Former Top Banking Executive Lance Weaver to Speak April 10 on Why Leadership Matters

CHESTERTOWN, MD—Lance Weaver, the former Vice Chairman of MBNA Corporation who oversaw Bank of America’s international and North American credit card operations before retiring in 2008, will speak April 10 at Washington College. His talk, on “Why Leadership Matters,” will take place at 5 p.m. in Hynson Lounge, Hodson Hall, on the College campus, 300 Washington Avenue.

Weaver’s retirement from Bank of America, which purchased MBNA in January 2006, capped a long career in the banking industry that also included stints at Wells Fargo, and Citibank and a decade on the Board of MasterCard.

As an executive vice chairman and the chief administrative officer of MBNA, he was instrumental in taking the corporation public in 1991 and growing it to employ 25,000 people worldwide. His responsibilities there included corporate affairs, law, government relations, real estate, facility management, personnel, security, compensation and benefits, career development, investor relations, media relations, and planning. Mr. Weaver also served as president of the MBNA Foundation and managed all the company’s community relations activities.

Today, he serves as a consultant to a wide range of companies including VISA, TSYS and The Kessler Group.

A graduate of Georgetown University, Mr. Weaver is a past member of that school’s Board of Directors and has also served as one of its Trustees. He also served as Board Chair of the Tower Hill School in Wilmington, Delaware, and recently taught an honors course in business ethics at University of Delaware.

In Memoriam: Michael Bailey, Professor Emeritus of Economics

Chestertown, MD, May 21, 2006 — William Michael Bailey, a longtime professor of economics and one of the longest-surviving heart transplant recipients, died of cancer on May 20, 2006. He was 68.

Dr. Bailey had just retired after 31 years as a Professor of Economics at Washington College. As chair of the Department of Economics for twelve years (1975-1987), he helped to shape one of the College's most popular majors. In recognition of this achievement, he was named the inaugural Hodson Trust Professor of Economics in 1977.

After a successful heart transplant in 1988, Dr. Bailey became a community advocate for organ donation and often spoke with students in the philosophy department's medical ethics class about his personal experience of benefiting from someone else's loss and the ethical responsibility that came with that gift. He often said that he wanted to live his life in a way that would be "some small recompense" for the life of the 25-year-old heart donor whose life was lost.

On campus, he was highly regarded among his peers for his keen intelligence, his passion for economic history and his philosophical grounding in economics. On his retirement, students lauded him for his ability to explain difficult concepts; one former student called Dr. Bailey "a man of stories and words." His teachings sparked ideas and understandings not only in the field of economics, but on life lessons as well. Former students paid tribute to his virtuosity as a teacher by naming a classroom for him. In the wider Chestertown community, he had distinguished himself as chairman of the Kent County Historical Trust. A proud liberal Democrat, he served for eight years on the Chestertown Town Council, which his wife, Margo, now leads as Mayor.

Beneath his brilliant intellectual capacity and his professional accomplishments, Michael was a family man.

"Michael's greatest passion, the thing he most liked to talk about, was his family: his wife and his eight children, whom he adored," said Robert Lynch, chair of the department of economics. "When I think back over the many conversations I had with Michael what stands out are his brilliance, his thoughtfulness, his kindness, his sensitivity, his wise council, his deep affection for his family, and his love of humanity. His passing is a great loss."

He earned a bachelor's degree in economics from North Texas State University and a Ph.D. in economics from University of Maryland College Park. Before coming to Washington College, Michael served as a professor of economics at both the University of Maryland and at American University.

Dr. Bailey had served as chair of Washington College's Finance Committee and as a faculty advisor to the Young Democrats Club and the Investment Club. He had also served on the Governor's Council on Libraries.

Dr. Bailey is survived by his father, William Leonard Bailey of Houston, Texas; a brother, Richard Bailey, also of Houston; his wife of 24 years, Margo Bailey of Chestertown, and eight children: sons Joel, Eric, Keith, Colin and Owen; and daughters Nancy, Carrie and Maren, and ten grandchildren. His youngest son, Owen, who was five when his father received his new heart, is a senior at Washington College.

In lieu of flowers, the family requests donations in his name to the Kent County Public Library. A private memorial service will be held on Tuesday, May 23.

The Washington Center for Internships Information Session, Feb. 3

“Study Abroad” in Washington, DC for a Semester and Receive Washington College Credit

Chestertown, MD, January 21, 2005 — On Thursday, February 3, 2005, Dr. Joseph Johnston, Vice President for Institutional Relations at The Washington Center for Internships and Academic Seminars, will be on campus to present information about the academic internship program at The Washington Center. Washington College has an affiliation with this Center enabling you to spend a “semester abroad” in Washington, D.C. as an intern with a government or not-for profit organization. Dr. Johnston will speak about the opportunities for internships in all majors and about the programs and areas of specialization offered to participating students. Students from Political Science, Business, and Economics who have previously interned with the program will also be on hand to share their experiences.

The Washington Center internship program is approved by the Political Science, Economics, and Business Departments for academic credit. Academic credit may also be available in other departments. Check the TWC website (www.twc.org) or contact Assistant Dean Kathy Sack at 2713, for further information.

Dr. Johnston will speak at 4:00 p.m. in the CAC Forum (Thursday, February 3, 2005).

If you are planning to attend this program, please contact Lisa Fields at extension 7206.