The Darden Report Fall Winter 2013
The University of Virginia Darden School of Business alumni magazine features stories of alumni and faculty research.
R E S P O N S I B L E L EA DERS Basketball Meets Business in Brooklyn Ralph W. Baker Jr. (MBA ’93) teaches kids how to dribble and how to double their money through his nonprofit, New York Shock Exchange. W 28 THE DARDEN REPORT hen Ralph W. Baker Jr. (MBA ’93) started coaching his 11-year-old son’s basketball team in the summer of 2006, he came up with the idea of also teaching the players about the merits of business. However, his idea was not immediately well-received by the other parents, who wondered why financial literacy was relevant to the young Brooklyn basketball players. Some went so far as to call him “crazy.” Baker’s son even threatened to quit the team when his father proposed a new name — the New York Shock Exchange. “[My son] thought we would be the laughingstock of the neighborhood,” Baker said. But Baker persisted. What began as informal investment meetings with the middle schoolers after basketball practice evolved into more formal gatherings in the summer. Guest speakers — including bankers, private equity investors, bond traders and asset managers — attended the group’s meetings and