The University of Wisconsin System Board of Regents on Friday approved a measure to change the name of UWM’s School of Business Administration to the Sheldon B. Lubar School of Business.

The measure came as a result of the $10 million donation Lubar made to the school in early February. The donation was the single largest gift in UWM’s 49-year history.

“When he donated $10 million to the university and committed to helping raise another $20 million as part of (Chancellor Carlos) Santiago’s vision, it just seemed the right thing to do,” said Regent Michael Spector.

The School of Business Administration was also pleased with the regents’ approval.

“We are delighted that the Board of Regents approved the renaming,” said V. Kanti Prasad, dean of the School of Business Administration. “We are proud and honored that the business school would be named for someone with such a deep and longstanding involvement with the business school.”

In addition to his individual contribution of $10 million, Lubar said he plans to help the university raise an additional $20 million that would be directed at the business school.

School officials said the donation will be divided three ways: 60 percent of it will help fund new business professorships; 30 percent will go toward need- and merit-based scholarships, which expands the already large scholarship program Lubar and his wife Marianne have set up for business students; and the final 10 percent will be allocated for a discretionary fund, for which the purpose is yet to be determined.

Lubar had previously agreed to serve as the honorary co-chair for the university’s comprehensive campaign, the goal of which is to raise $100 million for the university in an effort to fulfill Santiago’s vision of UWM as a major research university.

“(Lubar) strongly believes in the impact that UWM and the business school has on the southeastern Wisconsin region,” Prasad said. “He knows the major role that UWM has played in training top business leaders and top executives and management professionals that are driving forces in the southeastern Wisconsin economy.”

In addition to the name change, the board also voted in closed session to rename the Business Administration Building to Lubar Hall.

“They (the Lubar family) have made wonderful, meaningful contributions to Milwaukee,” Spector said. “This is just another in a series of things he’s done for Milwaukee.”

Also at the meeting, the board:

• Approved an agreement to allow the UWM Foundation to oversee the installation of exterior floodlighting at Engelmann Field.

• Tabled a motion to approve a UWM charter school contract with the Academy of Milwaukee, Inc., establishing a charter school known as the Academy of Milwaukee.

  According to the contract, this will be the 10th charter school. A stipulation in the contract would allow UWM to use the facility for conducing research into the concept of charter schools and their impact upon educational practice.

• Approved, in closed session, a salary adjustment for men’s basketball coach Rob Jeter. Jeter’s salary was adjusted, as allowed by state statute, to $350,000 effective June 1, 2006, and $400,000 effective June 1, 2007. The adjustment recognizes competitive factors.

> Comments