Highlights H i g h l i g h t s
Appreciation for liberal arts degree inspires fund in entrepreneurship
Thomas worked closely with the co-founder and head of sales at the company, analyzing daily sales and revenue data, producing investment pitches and studying the relationship between By Joanna Worrell Cardwell (M.A. ’06) purchases and product pricing. ollege alum Peter Rummell of “I see the Beijing Jacksonville, Fla., has enjoyed a successful internship program as career as a real estate developer, but he a pivotal experience in gives just as much credit to his UNC liberal my life,” Thomas said. arts degree as his MBA. “My internship was “I have argued for a long time that inspiring, informative over my 42-year career, my English major and challenging. has served me just as well as my MBA in Nothing compares to terms of providing a general grounding spending two months in an entrepreneurial in life,” said Rummell, who earned a company, nevertheless one in the middle bachelor’s degree in English from UNC of Beijing. This opportunity has completely TOP: The 2011 Beijing interns pose in front of in 1967. He later earned an MBA from the the Forbidden City during a bike ride through changed my life, and private funding made it Wharton Business School at the University Beijing. BOTTOM LEFT: Wyatt Bruton ’11, a 2009 all possible.” of Pennsylvania. Although Rummell himself never participant in the Beijing internship program, Rummell’s keen business sense and studied abroad as an undergraduate, he at the Great Wall of China with his Chinese appreciation for his liberal arts degree recognizes that the Beijing program is a roommates. RIGHT: Peter Rummell provides made supporting the College’s minor in tremendous opportunity. He is pleased support for the entrepreneurship minor. entrepreneurship an easy choice. The that his support enables students with minor, established in 2005 and based in the in the program. In addition to taking courses an entrepreneurial spirit to get hands-on at a nearby university, the students intern at experience. department of economics, recognizes the restaurants, public relations firms, medical importance of studying entrepreneurship “[Studying the liberal arts] is about from a liberal arts perspective while arming clinics and more. broadening yourself and making yourself a “Our Beijing program provides the students with the business skills they need to 360-degree person,” he said. “You don’t do opportunity for students to take what they launch new ventures. that just with accounting or business courses. have learned in the minor, and through Rummell and his wife, Lee Ann, A lot of life is who you are, who you meet an internship with a startup company in established the Rummell Family Fund for and how you handle those interactions. It’s China, apply it in one of the most dynamic not just the time you spend at a desk.” Excellence in Entrepreneurial Studies in and challenging economies in the world,” 2006 with a $500,000 gift. They recently Rummell began his real estate career Stewart said. “In the process, they gain a pledged another $500,000 to the fund. in 1971 with the Sea Pines Company. He greater understanding of entrepreneurship “The entrepreneurship minor relies later worked with the Arvida Corporation and the global economy, and a better heavily on external funding such as the and Rockefeller Center Management before Rummell Family Fund,” said John Stewart, appreciation for the culture, politics and becoming president of Disney Development history of China.” professor of economics and director of Company in 1985. He was later promoted Mackenzie Thomas, a junior the minor in entrepreneurship. “These to chairman of Walt Disney Imagineering. economics major from Huntington, funds allow us to go the extra mile for our In 1997, Rummell became chairman N.Y., who is also minoring in students, providing opportunities that are and CEO of the St. Joe Company, one business administration and scientific not possible with state funding.” of Florida’s largest real estate operating entrepreneurship, was one of 15 students Since its creation, the Rummell companies. He retired in 2008, but he who participated in the program this Family Fund has provided fellowships remains active through board service, summer thanks to the support of the to undergraduates who participate in the consulting and participation in the local Rummell Family Fund. She interned at minor’s summer internship program in political community. iF Juice, a startup seeking to become the Beijing. Over the last five years, nearly 80 The Rummells have two children: leading premium juice brand in China. entrepreneurship minors have participated Mahala and Harry. •
C
18 • college.unc.edu • Fall 2011 • Carolina Arts & Sciences