Editor's note: Gary Fethke and Michael New will be available for comment
at today's (Feb. 18) Board of Regents meeting.
UI College of Business to be named after Henry B. Tippie in recognition
of $30 million gift
IOWA CITY, Iowa -- Henry B. Tippie, a 1949 graduate of the University
of Iowa College of Commerce, has made a major commitment to the College
of Business Administration to support its students and faculty. In recognition
of Tippie's past, present, and future support that will exceed $30 million,
the college will be called the Henry B. Tippie College of Business.
The gift will be the fifth largest by an individual to a U.S. business
school and the largest individual gift to the UI. The Henry B. Tippie College
of Business will be the first academic division at the UI to be named.
UI President Mary Sue Coleman announced the gift at today's (Feb. 18)
Iowa State Board of Regents meeting in Iowa City.
"This is truly an exceptional day for the University of Iowa and
the College of Business. Henry Tippie recognized the value of his education
and how it led to his success, and he wanted to contribute to the future
success of our students," Coleman said. "This gift will enable
us to build upon the strengths of the College of Business and maintain
its status among the top business schools in the nation."
The gift will support undergraduate scholarships, as well as faculty
professorships and chairs, according to Gary Fethke, dean of the UI College
"This naming of the College of Business is a tremendous commitment
by one of our most successful graduates. I'm especially delighted because
Henry made it the hard way, from a loving but modest background to the
greatest successes in many business endeavors, ranging from truck leasing
to ranching. Henry embodies the best Iowa has to offer -- integrity, imagination,
good humor, intelligence, and friendship. We are indeed fortunate to have
the name of this wonderful man attached to our college," Fethke said.
Tippie, a 1949 accounting graduate of the UI, is vice chairman of the
board and chairman of the executive committee of Rollins Truck Leasing
Corp. and has a major interest in other multi-million dollar companies.
"I benefited beyond all expectations from attending the University
of Iowa under the G.I. Bill for veterans. My wife Patricia and I are honored
by the opportunity to make a repayment and assist in the continuing growth
of the University and its College of Business," Tippie said. "I'm
a strong believer in education and it's a great honor to be asked to continue
assisting the growth of this College."
Tippie will visit the UI April 9 for a ceremony commemorating the College
naming and will make additional comments at that time.
In addition to being a founding member of the College's Board of Visitors,
Tippie has been a generous donor to the UI, beginning with a $10 donation
in 1957. "He has given every year since then," said Michael New,
president of the UI Foundation.
"Henry Tippie is a prime example of the thousands of loyal contributors
who began by making small gifts and who have continued to support the UI
year after year, knowing that their gifts of whatever size
do make a difference. We hope this long history of generosity will inspire
other alumni and friends to continue, and perhaps increase, their support
in years ahead. Henry is the sort of person who makes things happen, and
we are confident that today's gift will have a 'multiplier effect' that
will soon be felt campus-wide," New said.
Tippie's past gifts include four scholarships, six professorships, an
endowed research chair in accounting, as well as the Tippie Auditorium,
Pat's Diner and adjacent student lounge in the Pappajohn Business Building.
With Henry Royer, former president of Firstar Bank in Cedar Rapids, Tippie
also endowed the Henry Fund, a real-money investment management program
for MBA students.
Tippie, 72, was born on a farm near Belle Plaine, Iowa, attended a one-room
schoolhouse and later the Belle Plaine Schools, where, in his senior year,
he enlisted in the Army Air Force and served as a staff sergeant with the
20th Air Force on Guam.
After attending the UI, he became a CPA in Des Moines, Iowa, and later
accepted a position as controller with John Rollins and Associates in Delaware.
Tippie helped the company negotiate the acquisition of the Orkin Exterminating
Company, which became a Harvard Business School case study because it represented
one of the first leveraged buyouts of a major corporation by a small company.
In addition to his positions with Rollins Truck Leasing Corp., the third
largest U.S. lessor of trucks and trailers, he is also a director of Safety-Kleen
Corp. (NYSE), the largest U.S. commercial collector and incinerator of
hazardous waste; and a director of RPC, Inc. (NYSE), an oil field services
company and manufacturer of Chaparral boats. He is chairman of the executive
committee of Matlack Systems, Inc. (NYSE), one of the nation's largest
tank truck organizations; director of Rollins, Inc., which owns Orkin Exterminating
Company; and chairman of the board of Fischer and Wieser, a specialty
foods company in Fredericksburg, Texas. He is vice chairman of the board
of Dover Downs Entertainment, Inc. (NYSE), a multi-purpose entertainment
complex for NASCAR and IRL auto racing, Toyota Grand Prix of Long Beach,
thoroughbred horse races and video lottery (slot) machine operations. He
also owns and operates two ranches near Waco and Austin, Texas, and he
is chairman, president and CEO of Tippie Services, Inc., a management services
In 1996 he received the Horatio Alger Award. He received the UI Distinguished
Alumni Award for Service in 1981 and the Outstanding Accounting Alumnus
Award in 1989.