Discussions of economic outlook constitute slippery ground but Bill Franke stands firmly on the foundation of discipline, focus and commitment to a business plan.<\/p>\n
Northern Arizona University marked 40 years of presenting its economic outlook conference Thursday with the prominent and to-the-point Franke as the keynote speaker.<\/p>\n
\u201cWe invest all over the world but it\u2019s still about basic business principles,\u201d said Franke, the managing partner of Indigo Partners LLC\u2014a private equity fund focused on air transportation investments\u2014and namesake of the W. A. Franke College of Business. He addressed a capacity crowd at the conference, presented by the college\u2019s Alliance Bank Business Outreach Center.<\/p>\n
Franke\u2019s self-described \u201canecdotal walk-around\u201d of international investment perspectives brought a strong message right to the doorstep of his northern Arizona audience: \u201cThere\u2019s still huge opportunity out there if you are thoughtful, engaged and do your homework.\u201d<\/p>\n
\u201cI\u2019m not a trained economist but I am a pragmatist,\u201d Franke said, shining a clear light of confident appraisal on the competing views of colleagues that ranged along a scale of dark pessimism to faint optimism.<\/p>\n
Presenters Ron Gunderson<\/strong> and Dennis Foster<\/strong>, both from NAU, and Elliott Pollack\u2014all of whom have been a mainstay of the annual conference for years\u2014collectively mustered a middling enthusiasm for more of the same slow growth that has characterized the nation\u2019s current long recovery from recession. While Gunderson noted an increase in Flagstaff-area home sales and median prices, Pollack pointed out that decreased employment opportunities are hampering overall expansion in the state.<\/p>\n During the equity investment travelogue, Franke offered his take on economic conditions in China, India, Europe, Brazil and other markets, distilling each segment into insightful quips, from the \u201cbest baseline value\u201d to be found in central and eastern Europe to the need to be \u201ca brave investor\u201d in Brazil.<\/p>\n In a post-conference interview, Franke emphasized his candid, world-wise approach while discussing the realities of developments in China and the reluctance of Americans, at times, to see beyond their borders.<\/p>\n \u201cWe\u2019re a country that\u2019s grown up within itself, so we tend to think of the United States as know-all be-all, and in fact we\u2019re kind of proud of that,\u201d Franke said. \u201cBut the fact of the matter is, the U.S. economy is going to be smaller than the Chinese economy in the next five years. You can either deny it or you can figure out what to do about it, and I\u2019m from the figure out what to do about it school.\u201d<\/p>\n Earlier, during the public presentation, Franke acknowledged that his role as a \u201cMr. Fixit\u201d in the business world stems from calmly finding order in the often-emotional melee of a foundering company.<\/p>\n \u201cI love adversity as an investment thesis,\u201d Franke said, noting that his firm \u201cviews adversity as an opportunity because very few others are looking at it that way.\u201d<\/p>\n Taking a similar approach to Arizona\u2019s education system, Franke responded during a Q&A session that the state has missed some business expansion opportunities because its commitment to education has \u201cfared poorly as graded by outsiders. That\u2019s something we all have an obligation to fix.\u201d<\/p>\n In 2007, Franke took a monumental step toward doing something about it at NAU. His $25 million gift resulted in far more than a college of business bearing his name: His influence prompted the development of a systematic approach to broadening the global horizons of students\u2014an attribute he said is sorely missing in many young graduates.<\/p>\n In addition, NAU interns at his investment firm are steeped in global awareness and communication skills, often with the result of transforming those students into candidates for top-level graduate schools.<\/p>\n NAU President Rita Cheng<\/strong> closed a retrospective speech on NAU\u2019s growth and changes during the 40 years of the conference by honoring Franke\u2019s legacy.<\/p>\n \u201cWe remain grateful for Bill Franke\u2019s willingness to lend his name and considerable resources to a college that stands for some of the values I personally hold dear: hard work, persistence and the power of education to open a pathway to success.\u201d<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"