Access & Use

Historical Note
The Carl A. Gerstacker Institute for Professional Management began with a Lilly Endowment for $112,000 in January of 1974 for the development of a Liberal Arts Program in Professional Management.  The grant was to be used for first year operating expenses of the new program and for Lilly scholarships, lecturers and visiting professors for the program.  The program was designed to meet the need for business/career-oriented training and education for liberal arts students, in addition to help fill the need the business world had for young managerial talent with a solid understanding, appreciation and commitment to the history and traditions of the free enterprise system.

The first year, there were 38 students enrolled in the program.  The course of study for the program included 14 courses in addition to the liberal arts core, which included:

• Principles of Microeconomics

• Principles of Macroeconomics

• Intermediate Microeconomics

• Money and Banking

• Principles of Accounting

• Management Seminar

• Personnel Management

• Quantitative Methods for Managerial Decision-Making

• Introduction to Computer Programming

• Calculus I

• Freshman English

• Technical Writing

• Platform Speaking

• Business Ethics 

Students also had to complete at least 2 paid internships of 4 months each.  The first internship was usually completed in the student’s sophomore year; and the second, in the summer between the student’s junior and senior years.  The program would also award Merit Scholarships to recognize outstanding academic performance and leadership contributions to the program’s special activities.  A student had to maintain at least a 3.00 GPA to retain his/her scholarship.  Funding for the scholarships came from the program endowment.  A monthly newsletter, “Professionally Speaking,” was to keep program members advised of upcoming workshops, speakers, student achievements, career opportunities, etc.  In addition, students could obtain a second major in one of the College’s other 19 disciplines.  Upon completion of the program, a student would receive a B.A. in Economics and Management.

In November of 1974, the Lilly Endowment Board authorized another grant in the amount of $100,000 to Albion for continued support of the program.  This was renewed again 1975-1977, with a slight reduction in the Lilly’s involvement each year.

Participants in the Guest Speaker Series for the academic year of 1974-75  included:

• Charles Gibson, President of Apsocold Corporation

• Bob Wilcox, Manager of Jacobson Stores, East Lansing

• Fred Meijer, Chairman of the Board, Meijer, Inc.

• Robert Sprigmier, Manager of Corporate Planning Activities, Dow Corning Corporation

• Dr. George Stigler, University of Chicago

In 1975, Albion College negotiated an agreement with Project COVE of Saint Louis University to help in the assessment effort of the program.

The summer of 1975 marked the initial Professional Management Summer Session.  Visiting professors that session were Dr. Charles Chappel of Anderson College and Dr. Joseph Massie of the University of Kentucky that summer.  Courses taught included quantitative analysis and computer science.

In 1976, the Lilly Visiting Fellows Program, or Executive Lecture Series, began.  This series was to concentrate on the area of Economics and Management, but to also emphasize the effective integration of these fields with other aspects of a liberal arts education, such as the social responsibilities of business and the proper role of government in society and economics.  Dr. Carl Gerstacker, Chairman of the Board and Chief Executive Officer of Dow Chemical Corporation was the first Adjunct Professor of Economics and Management to take part in the Albion program.  The week-long program was held between March 28 and April 1.

In May of 1976, the first class of management students graduated.  Out of a total of 10 students, 8 moved directly into the business world, while the other 2 continued their studies in graduate school.

Participants in the Guest Speaker Series for the 1976-77 academic year included:

•  Robert Copp, Overseas Liaison Manager, Ford Motor Compan

• Jack Maxwell, Vice President for Administrative and Corporate Development, American Motors Corporation

• Maurice Mascarenhaus, President, Mascarenhaus Associates

• Ernest W. Anderson, Vice President for Corporate Affairs and Secretary, Federal-Mogul

•  Dr. Ronald Muller, co-author of Global Reach

•  Dr. Herbert Stein, former head of the President’s Council of Economic Advisors and author of The Fiscal Revolution in America; Dr. Stein also gave an address, “The Future of the American Economy”

Besides the Lilly Endowment, other financial supporters of the program for the 1976-77 academic year included:

• Burroughs Corporation

• Chevrolet

• City Bank and Trust Company

• Corning Glass Works

• Eaton Corporation

• General Motors Assembly Division

• Hayes-Albion Corporation

• McClure Oil Company

• Rospatch, Inc.

• Union Steel Products

• Whirlpool Corporation

As of July 1, 1978, the program was to no longer received funding from the Lilly Endowment.  During the final year of Lilly support, there were 120 students enrolled in the program.  Financial support was to continue in the form of contributions from corporation, organizations and individuals to become Associate Sponsors ($1,000/year), Founding Sponsors ($25,000 over 6 years), or Sustaining Sponsors of the program (at least $6,000/year).  All Sponsors were to receive the program’s Annual Report, invitations to the program’s events, and the opportunity to meet with Professional Management students.  In addition, they would be invited to the Annual Sponsors’ Dinner, at which the program’s graduating seniors were to be recognized.

During the 1987-88 academic year, The program was renamed in honor of Carl A. Gerstacker.  The public announcement was made on April 16, 1988 in the midst of a celebration that brought Dr. Gerstacker and CEOs of several nationally prominent corporations to campus for an open house, a symposium on “American Business: What it takes to be competitive,” and a dinner gathering of family and friends.  The naming came as a result of raising the $1.5 million endowment for the program included in the Campaign for Albion College.

This was the same month of the 15^th Anniversary of the founding of the program at Albion.   It was celebrated with Dr. John Coleman, retired President of Harvard College, with “Walking in Others’ Shoes”

Directors of the Program

Distinguished Visiting Professors of Economics & Management

Biographical Note
Timeline for Carl A. Gerstacker

• August 1916 : Carl Allen Gerstacker Born in Cleveland, Ohio

• 1938 : Undergraduate Degree in Engineering, University of Michigan

• 1938-1940 : Dowell, Incorporated, Accounting Staff

• 1940-1946 : U.S. Army Ordinance Department, Major

• 1946-48 : Dow Chemical Company, Chemical Engineer

• 1948-? : Dow Chemical Company, Director

• 1949-1959 : Dow Chemical Company, Treasurer

• October 22, 1950 : Marries Jayne Harris (Later Divorces)

• 1955-1959 : Dow Chemical Company, Vice President

• 1957-? : Dow Chemical Company Executive Committee, Member

• 1957 : Honorary Doctorate, Central Michigan College of Education

• 1960-1976 : Dow Chemical Company , Chairman of the Board

• 1960-1988 : Albion College Board of Trustees, Member

• 1965-1977 : Albion College Finance Committee, Chair

• 1966 : Ohio Governor’s Award for “Advancement of the Prestige of Ohio”

• 1966-1973 : Export Expansion Council of U.S. Department of Commerce, Chairman

• 1968-1970 : U.S. Commission for UNESCO

• 1968-1970 : Blue Ribbon Citizen’s Commission, Head of Financing, Governor Romney Appointment

• 1971 : President Nixon’s “E” Award for “Expert Services to the Nation”

• 1972 : Honorary Doctorate, Albion College

• 1974 : Society of the Chemical Industry Chemistry Industry Medal

• March 8, 1975 : Marries Esther Little Schuette

• 1976 : Retires, Dow Chemical Company

• 1976 : Industrial Service Merit Silver Tower for “contributions to the Korean petrochemical industry”

• March 27-April 1, 1977 : Distinguished Visiting Professor of Economics & Management, Albion College

• October 30-November 3, 1977 : Distinguished Visiting Professor of Economics & Management, Albion College

• 1977-? : U.S. Japan Conference on Cultural and Educational Interchange, Chairman

• 1977-? : Japanese-U.S. Friendship Commission, Member

• 1977 : Second Class of the Order of the Rising Sun for “contributions to the promotion of economic and cultural relations between the United States and Japan”

• 1977 : Honorary Doctorate, Northwood Institute

• 1977-1983 : Albion College Board of Trustees, Chairman

• 1980 : Honorary Doctorate, Waynesburg College

• 1982 : Honorary Doctorate, Alma College

• 1982 : Outstanding Achievement Award, University of Michigan

• 1983 : Distinguished Service Award, Albion College

• 1983 : Outstanding Service Citation, Albion College Board of Trustees

• 1983 : Commencement Speaker, Albion College

• 1986 : Honorary Doctorate, Hiram College

• 1988 : Albion College Liberal Arts Program in Professional Management Renamed to Gerstacker Institute for Professional Management

• 1988 : Dow Chemical Establishes Gerstacker Scholarship at Albion College

• April 17-April 20, 1989 : Distinguished Visiting Professor of Economics & Management, Albion College

• April 23, 1995 : Dies of Leukemia

• Dow Chemical Co. (Emeritus)

• Chemical Financial Corporation

• Dundee Cement Company

• Sara Lee Corporation

• K-Mart Corporation

• Consolidated Foods Corporation

• Eaton Corporation

• Spence Engineering

• National City Bank (Cleveland)

• Synthetic Organic Chemical Manufacturing

• Federal Reserve Bank of Chicago (Detroit Branch)

• Hartford Fire Insurance Company

• Dow Corning Corporation

• Citizen’s Bank and Trust (Clare)

• Synthetic Organic Chemical Manufacturing

• Rollin M. Gerstacker Foundation

• Starr Commonwealth Schools

• Elsa U. Pardee Foundation

• United Presbyterian Fund Foundation

• New Perspective Fund, Inc.

Scope & Content
The records of the Carl A. Gerstacker Institute for Professional Management span the years of 1972-2001, with the bulk of the material falling between 1977-1996.  The collection provides an overview of the creation, evolution, and activity of the Institute as well as biographical information on Carl Gerstacker himself. 

The collection is divided into seven series: 

Series I: Annual Reports
Series II: Correspondence
Series III: Faculty
Series IV: History
Series V: Program Activities
Series VI: Publications
Series VII: Miscellaneous 

Series Description

Series I, Annual Reports, contains documents leading up to, drafts, and final versions of annual reports for the Institute for the academic years 1973-1997. The series is arranged chronologically by academic year. The annual reports include information such as student enrollment, updates on graduates to the program, scholarships, internships, lectures, visiting professors, program activities, recruitment of new students, and developing financial support. 

Series II, Correspondence, contains only first-year correspondence for the program. This includes correspondence with the Lilly Endowment, applicants to the program, companies describing potential work co-ops for summer students, selections and alternates to the program, co-op applications, and a description of the original intent of the program by Charles E. Schultz, first director. 

Series III, Faculty, includes materials on Distinguished Visiting Professors and Executives in Residence. This series is organized chronologically. Materials include biographies, faculty schedules, newspaper clippings, photographs, correspondence, and articles all relating to the candidate and his or her accomplishments at or outside of Albion. Carl A. Gerstacker figures prominently. 

Series IV, History, is organized by information specific to the Lilly Endowment and General Historical Information on the Institute. Information on the Lilly Endowment includes grant proposals, correspondence with the Foundation, articles and press releases on the Professional Management Program and the endowment, program status reports, documents of grant responsibilities, Lilly Visiting Fellows Program, and Project COVE agreement. General Historical Information includes articles and newspaper clippings on the program and its directors, copies of applications to the Institute, memoranda, budgets, academic and internship requirements, symposia programs, photographs, and documents on the philosophy of the program. An important group in this series is the Academic Policy Committee. Director of the Institute from 1994-1997, Roy S. Klein, figures prominently as well. 

Series V, Program Activities, includes information on the 1977 National Leadership Methods (NLM) Competition: Students in Free Enterprise, fundraising through grants and corporate sponsors, scholarships, and materials relating to the Corporate Sponsor Dinner of 1983. The “Students in Free Enterprise” contest was entered by 10 Albion students, who, through directed studies, public forums, and debates, were to study the pros and cons of the U.S. free enterprise system, its present problems, and its future. Albion was one of 18 colleges, universities and business schools who participated. These materials are in their original order. 

Series VI, Publications, includes P.M. Update, Epworth Journal, marketing brochures for the program, and the program’s Student Handbook. This series, arranged chronologically, includes news from the director, committee reports, alumni activities, upcoming speakers, internships, course changes, courses offered, and program faculty. 

Series VII, Miscellaneous, included photographs of the Albion campus and its buildings. They are in their original order.

Inventory