Last modified: Friday, March 30, 2012
IU Kelley School of Business' center for undergraduate education is formally named Hodge Hall
FOR IMMEDIATE RELEASE
March 30, 2012
BLOOMINGTON, Ind. -- Indiana University President Michael A. McRobbie presided over a ceremony today, March 30, to name the Kelley School of Business' undergraduate building in honor of alumnus James R. Hodge.
The building, named Hodge Hall Undergraduate Center, soon will undergo an important transformation. The new and renovated facilities will enable program innovations that will elevate the role the Kelley School plays in the economic vitality of the state and will further advance its presence among the world's elite business schools.
The building was named for Hodge, president of Permal Asset Management in New York and a native of Marion, Ind., in appreciation of his $15 million gift for the $60 million renovation and expansion of the 46-year-old, 140,000-square-foot original building.
Another major supporter is Lilly Endowment, which provided a $33 million grant for the project. The building project will be completely funded through private gift support. No state funds or tuition revenue will be used.
In his remarks, McRobbie took note of the "great and real sacrifice" that Hodge has made for the public welfare and his support of a quality business education for others.
"Names like Simon, Lilly, Kelley, DeVault and Showalter are forever woven into the philanthropic fabric of this great university. With Jim Hodge's generous gift of $15 million, which will be used for the expansion and renovation of the Kelley School's undergraduate facilities -- and with the naming of that facility in his honor -- the Hodge family name joins their distinguished ranks," McRobbie said.
"Jim's generosity has inspired -- and will continue to inspire -- many others to lend their faithful support to our shared vision for the school's future."
Dan Smith, dean of the Kelley School, acknowledged Hodge's ongoing role as a hero and an active supporter of the school, particularly as a role model for students.
"From time to time, special people have come along and played a profound role in the story of the life of the Kelley School of Business. And, as a result, the lives of countless students have been transformed for the better and for good. In Jim Hodge, we honor such a person," Smith said.
"Jim, you embody all of the values that we hold dear at the Kelley School," he continued. "Your story is a story about an amazing work ethic. Our students will learn that success never comes easy and demands focused commitment. Your story is about integrity. Our students will learn that there are no short cuts and that success can be acheived without compromising sound values.
"Your story is one based on kindness and generosity and on reaching out to help others. Our students will understand that they have an obligation to give back and to support the communities in which they live and work ... Jim, your story is now and will forever be part of our story," Smith said.
IU Bloomington Interim Provost Lauren Robel observed that the building and the Kelley School are integral to the life of the university.
"Hodge Hall will be so much more than a beautiful new building on our campus, although it will be gorgeous. It will become a kind of a town hall, designed to facilitate teamwork, which is certainly the hallmark of a Kelley education," Robel said.
"Hodge Hall will be rocket fuel for our wonderful faculty and student body and give them the space they need to strengthen and expand their partnerships with other units around the campus, and the technology to collaborate in real time with other scholars and corporate partners overseas," she added.
A graduate of Marion High School, Hodge earned a bachelor's degree with highest distinction in business in 1974 and went on to become president of Permal Asset Management, one of the oldest and largest alternative asset management firms in the world. He also holds an MBA from Harvard Business School and is a CPA in the state of New Jersey.
He serves on the board of directors of the IU Foundation and on the Kelley School of Business Dean's Council. A lifetime member of the IU Alumni Association, he also is a member of the IU Foundation President's Circle and 1820 Society.
After paying tribute to business school faculty who influenced him, including his faculty advisor, and stressing the importance of giving back, Hodge said he believes the renovation and expansion of the building will be essential to the Kelley School's future ability to serve the needs of its students.
"Forty years later, after the first time I set foot on this campus in fact, both the building and I are due for a facelift," Hodge said with a smile, adding later, "It makes me feel really good to do something with the goodness that's fallen on me, for the institution that's done so much for me."
R. Thomas Lenz, chair of the undergraduate program, noted how Hodge Hall will serve as a "magnificent new canvas on which the artistry of a world-class faculty will be displayed ... At the very least, learning environments in which state-of-the-art technologies push back boundaries of space and time, allowing our students to connect with the global network of Kelley alumni, interact on a real-time basis with executives and government officials, and collaborate on projects with business students at universities throughout the world."
Also speaking today was Bloomington Mayor Mark Kruzan and Sav Pillay, a senior from Zionsville, Ind., and president of the IU Kelley School of Business Undergraduate Government.
Construction on Hodge Hall Undergraduate Center will begin this spring with the building's expansion, followed by renovation of the existing building -- one floor at a time. Both phases of the project are expected to be completed within three years.
A focus of the building project will be to create facilities that will enable a technology-mediated experience, allowing Kelley students to interact with companies from across the state and around the world on actual business projects.
The Kelley School also needs more classroom space, as current facilities are 100 percent utilized and the school must routinely turn away many high-quality students each year because of capacity constraints.
For more information about the Hodge Hall project, visit kelley.iu.edu/CountMeIn.