William Jessup interns work on financial newsletter with UP Capital ManagementBy: Margaret Snider, Granite Bay View Correspondent
UP Capital Management of Granite Bay is helping William Jessup University in Rocklin to achieve its internship goals by creating a fee-based, subscription newsletter. The object is to help readers manage their money.
Anton Bayer, CEO of UP Capital Management, brought the idea of the paid internship to the University along with investment adviser Eric Savell, who himself is a WJU graduate.
The editorial staff of the newsletter is to consist of the William Jessup interns, led by the management team of UP Capital Management, Savell said.
“How can we power and prepare students to enter the workforce upon graduation and help them in being exceptionally employable upon graduation?” Savell asked.
That question is not just a rhetorical one.
Dr. John Jackson at his inauguration as the sixth president of WJU said, “Our passion is for our students to be spiritually thriving, receive quality liberal arts education and to be exceptionally employable.”
Four interns broke ground in the first semester of this project by conducting research on the practicality and viability of the newsletter.
“We had an accredited class on campus,” Bayer said. “We met every Monday for two hours. They have to meet 100 hours of class and work time to achieve their accreditation, so Eric and I jointly led the class.”
The interns worked together as a team.
“First we did research on what the financial publishing industry was,” said Bryce Miller, 20, who is from Roseville. “Then (we evaluated) who we should be marketing to.”
Miller was the only junior in the group, which was otherwise composed of seniors.
Solvanga Slay of Antelope, 23, said she had never done research of that kind before.
“We did a lot of research on the companies that made financial newsletters,” said Slay. “We went from what names they use, to how they organize their newsletters and how they lay out their newsletters.”
The interns presented the resulting business plan to a combined group of WJU internship administrators and the UP Capital Management leaders.
“I’ve never had to write a business proposal,” said Lindsay Aleshire, 23, of Rocklin. “We got to help write that and I thought that was really cool.”
An important offshoot of the program according to intern Drew Bell, 21, from Clovis, was the introduction to the world of financial management.
“They (Bayer and Savell) provided insight and helped us know what we were getting into,” Bell said. “They helped us get our feet wet.”
But, said Bell, the interns were also looked to as a valuable resource.
“They really wanted our feedback as to how to best shape the newsletter,” Bell said. “They said that really we have just as much experience as them in the newsletter industry, because it’s such a new venture. They wanted additional perspectives other than their own.”
Bayer said that with the economic climate as it is currently, a lot of college graduates are moving back in with mom and dad.
“It’s very hard for graduates to get jobs today, and part of it is the misalignment between their experience and their degree,” Bayer said. “They don’t have real life experience.”
Sally Beaudry, business department internship coordinator, said the aim of the internship program is to make sure that the students get firsthand business experience.
“The purpose is to expose them so they understand how businesses are run, and really land on their feet ready to go when they graduate,” Beaudry said.
This is only one of the internships available in the Business Department for students at WJU.
“We had 22 interns this year and they worked in all kinds of different areas in the business world from hospitals to construction companies to manufacturing, all over,” Beaudry said.
The newsletter is definitely one factor in achieving exposure for business students.
“Every semester, like a football team, some would graduate and move on, and some would stay,” Bayer said. “Ideally, if it really grew into a full-blown editorial newsletter, you could cover a lot of topics and continue to expand.”