Merrill Lynch and Nets Team Up to Teach Investing Basics


Merrill Lynch has teamed up once again with the New Jersey Nets and the Stock Market Game program to teach investing basics to young people.

The partners kicked off the "Nets/Merrill Lynch Investment Challenge" at a ceremony on February 10, when the professional basketball team faced the San Antonio Spurs at the Nets' home arena in East Rutherford, New Jersey. The Investment Challenge supports students at five public high schools in nearby Newark who participate in the Stock Market Game™.

A student from each school will be treated to a courtside seat at several Nets games and, as a special reward, Merrill Lynch will offer a paid summer internship to a student from each school, to give them hands-on experience in the financial services world. The internship winners will work at the Global Private Client office in Newark.

"It is vitally important that young people understand investing basics and gain real-world work experience," said Eddy Bayardelle, president of the Merrill Lynch Foundation. "For many of the students, the New Jersey Nets/Merrill Lynch Investment Challenge will be the first exposure to investing, the life skills associated with investing, and the many exciting career paths in this industry."

The Stock Market Game™, a classroom tool administered by the nonprofit Foundation for Investor Education, is a part of a program that helps to improve student achievement in language arts, math, business, social studies, computer technology and other subject areas. Each student team is given $100,000 to invest in a simulated portfolio, and they learn about investing from program materials that teachers incorporate into their curriculum.

"We've had teachers say they've had young men who were disengaged from their studies, and they came back and started getting interested in class because of the Stock Market Game," said Robert Ross , head of GPC's Newark complex. "Once the Nets/Merrill Lynch Investment Challenge came into the picture, all of a sudden they have kids who are doing their homework and interested in furthering their education."

At the pregame, on-court presentation with Investment Challenge representative Jason Collins, the 7-foot center of the New Jersey Nets: from left, Dr. J. Russell Garris, assistant superintendent for Newark's School Leadership Team 2; Elizabeth Lesher, a Stock Market Game challenge representative; Jerry Bruno, director of the Newark Public Schools Office to Career & College Initiatives; Lola West, financial advisor in the Newark Liberty Complex; Robert Ross, director of the complex; Kathy Floyd, executive director of the Stock Market Game Program; VP Patricia Barksdale, an FA at the complex; Joe Hockenjos, executive director of the Nets' Corporate Partnerships.