A Season of Change - Introduction of Jerry Herman

I would like to recognize Ambassador Walker, the Chairman of the Board of Trustees at Webster University. Ambassador Walker is a longstanding member of the Webster family and like a good family member he continues to ensure that this family is nurtured and strengthened in so many meaningful ways. We appreciate you and are grateful for gracing us with your presence this afternoon.

This winter has been very consistent, every now and then spring appears and then summer shows up. The uncertainty of certainty has been the order of this winter season. In the winter of our spring and summer there is another obvious change taking place in the higher education landscape. The emergence of for-profit institutions of higher learning, it's an emerging phenomenon that is impacting the entire higher education sector. These innovations are driven by profit and many of them have succeeded in building a brand name that is gaining respectability. They've done it by demonstrating good instincts and armed with a sense of constructive impatience. We know that the current state of the education market is the most competitive that we have ever witnessed. Webster University's success has come because we have consistently demonstrated our ability to change before we have to.

In fact, change and entrepreneurship is in the DNA of our institution and so today. We have invited Jerry Herman, Managing Director at Stifel Nicholuas in the higher education market to brief us on the impact of publicly traded higher education institutions, their role in higher learning and to project what the future is going to look like for the higher education market place.

As more and more of the for-profit institutions attempt to traditionalize themselves, it would be instructive for institutions like ours to be attentive to the changes taking place. Jerry Herman will shed light on the subject and then take your questions. He is described by the Wall Street Journal as the "Best on the Street."  Jerry is renowned for his accuracy, deep knowledge of the higher education marketplace and his ability to see with certainty into an uncertain future. Ladies and gentlemen, Jerry Herman.