"Students find internships all over the tri-state area. From banks to real estate agencies, law offices, hospitals, hotels, and brokerage firms, our students have had all kinds of experiences. One student had an internship at The Residence Inn by Marriott  Hotels right in New Roc City. They liked her so much they offered her a job before she graduated and she is now in their management training program. " Professor Linda LoPresti Business Department School of Arts & Sciences The College of New Rochelle

Professor LoPresti, what do you teach here at The College of New Rochelle?

Explain how business internships are part of the curriculum at CNR?

All Business majors are required to have a work-based experience before they graduate related to their career track. It can be an internship or a co-op depending upon the number of hours that they are willing to commit to the experience. Internships are 45 hours per credit or 135 hours for the semester and a co-op is a minimum of 20 hours a week or 300 hours for the semester. A co-op is a job. As the faculty mentor, I find some kind of academic component for the student to justify 3 academic credits. For example, I might assign a research paper connected to her job or a project associated with her experience. Internships are usually non-paid. In both cases their on-site supervisors evaluate their performance and I ask them to write a paper outlining their experiences.

As part of the process I recommend that students find their own internships or co-ops. We believe that part of the learning experience is preparing the resume and finding a placement. Of course, if the student needs help we will assist her in any way necessary.

We also refer students to Career Counseling and Development for help in finding a placement. They have been extremely helpful to our students with resume preparations, mock interviews, and job searches.

Where do students find their internships and co-op employment?

Students find placements all over the tri-state area. From banks to real estate agencies, law offices, hospitals, hotels, and brokerage firms, our students have had all kinds of experiences. One student had an internship at The Residence Inn by Marriott Hotels right in New Roc City. They liked her so much they offered her a job before she graduated and she is now in their management training program.

Another senior worked for VSAM Global Asset Management in Mamaroneck for several semesters. After graduation she was offered a full-time position and is taking her Series 7 exam to become a broker.  Her boss also expressed the possibility of offering her a partnership in the business in the future.   

Some other placements are Bank of New York, Virgin Records (EMI), Catholic Charities, Merrill Lynch, and New York Life Insurance. We also have had several students go to law school as well as graduate school to pursue their MBAs.

What is a Viewpoints  Course?

A Viewpoints course is a capstone course for juniors and seniors only. It is supposed to be the culminating experience of their liberal arts core requirement. I teach a course called Multinational Corporations, Business Ethics, and Human Rights. It focuses on Corporate Social Responsibility, (what some corporations are doing or what they should be doing). We discuss some ethical dilemmas in business such as sexual harassment, romance in the workplace, whistle blowing, those sorts of issues.

We also discuss the Universal Declaration of Human Rights, as well as other human rights issues. Although I do not require my students to become advocates on human rights, many become so touched by an issue that they are moved to take some type of action. One class decided to write letters to The Gap because of the working conditions shown in a video detailed many human rights violations. My purpose is to bring awareness to the students. The students have responded positively to this course.

Other Viewpoints courses have specific themes such as The Body in Question, Children's and Families' Rights: A Global Perspective, Justice, Feminist Imagination, and The Problem of Evil. These are interdisciplinary courses taught by professors in almost every major.

Young people do not realize that the decisions they make today will affect their credit histories for the next seven years. I encourage everyone to check the information on their credit reports periodically to make sure the information is correct. The average credit card debt of a college student is around $3,000.

 
I understand that in your classes, you are a passionate advocate of avoiding credit card debt. What do you tell your students about credit card and credit card debt?

I am not against having a credit card. However, we need to realize that this is a billion dollar industry and credit card companies target college students and people with low incomes because these two groups will most likely pay the minimum amount required each month.

I tell my students that these companies should include a 14kt. gold pin in the shape of a shovel with the credit card statement because when you pay the minimum balance credit card companies are encouraging you to shovel yourself deeper into debt.

Young people do not realize that the decisions they make today will affect their credit histories for the next seven years. I encourage everyone to check the information on their credit reports periodically to make sure the information is correct. The average credit card debt of a college student is around $3,000.

In fact, these companies go after children younger than college age students. My son, at age 16, received a pre-approved card in the mail, and he did not even have a job.

Unfortunately, we live in a society that wants instant gratification. Credit cards give us the opportunity to have what we want immediately. I ask my students to answer just one question before making a credit card purchase: Do I want it or do I need it?

 
Many young students today are hearing that they can’t depend on Social Security. Why can't we depend on Social Security?

There seems to be two important reasons. The first is that the ratio of workers contributing to the fund to retirees is less than it used to be. There are now only two workers for every one retiree. It used to be four-six workers contributing to the fund for every one retiree. As people live longer and with fewer contributors to the fund we know eventually this will deplete the fund. Also, in the year 2011 a record number of baby boomers are expected to retire and this will further put a drain on the fund. It is not an immediate problem, but is one that will affect our grandchildren.

Do women have to consider different financial strategies than men?

How is investing in the 21st century the same or different than investing 100 years ago? Are the rules the same?

Based on the rate of return, (historically) can we count on the stock market as an investment vehicle in the future?

Yes, the rate of return has been around 12% historically. This has always been a good investment vehicle. The market is cyclical and there will always be outside factors that affect the market. However, I believe that the stock market will continue to be one of the best performance investments around.

I believe in doing research, in doing your homework, and  in being an educated consumer. Begin by reading Business Week. I love Business Week. It gives you a real indication of what’s going on in the business world. Start there, and continue to read.

What should students who do not take your business courses do to become familiar with their financial matters?

I believe in doing research, in doing your homework, and  in being an educated consumer. Begin by reading Business Week. I love Business Week. It gives you a real indication of what’s going on in the business world. Start there, and continue to read. There are also websites where you can familiarize yourself with the options available. Most of these websites have Frequently Asked Questions, and give easy-to-understand explanations about the types of investments available and how to go about choosing the best ones. A small amount of research on your part will be well worth your time and effort in terms of dollars and cents tomorrow, and the day after tomorrow.