Corporate Execs Receive a Refresher Course in Ethical Business Practices from the BizWorld Foundation

Business Wire, July 25, 2002

Business Editors

REDWOOD CITY, Calif.--(BUSINESS WIRE)--July 25, 2002

A Hands-on Program That Teaches Kids How to Start and Run a

Business, the Right Way, Goes Out to Execs Who Need It

Executives from WorldCom, AOL Time Warner, and Enron will receive a different kind of recommendation on how to improve their business practices, not from the SEC, Federal prosecutors, or Congress, but from a non-profit organization that teaches elementary and middle school kids about business -- good business. Today, the BizWorld Foundation sent its program kits to Bernie Ebbers, Richard Parsons, and Enron board members, with the hope that they will put the program to good use by sharing it with their executive teams. Now more than ever, corporate America could use a refresher course in ethical business and financial practices.

BizWorld kits usually go to community volunteers and teachers of 4th-8th graders, at no cost, who want to better prepare their students for a successful, ethical future. The program gives students the opportunity to experience starting and running their own friendship bracelet company, in the classroom. The curriculum simulates all the steps entrepreneurs take in starting and running a business -- the right way. At the end of the program's eight hours, each company creates income statements and balance sheets to determine the company with the highest value. There are no off-shore companies in which to hide revenue, and every company has to pay their taxes. The classroom's market place doesn't allow for insider trading, either.

Odds are, the likes of Ebbers and Parsons wish they would have had BizWorld in 5th grade, too.

About BizWorld Foundation

The BizWorld Foundation is a 501(c)(3) nonprofit organization dedicated to improve the understanding of business, entrepreneurship, and financial literacy among youth. BizWorld provides proven, hands-on programs to elementary and middle school educators that motivate and educate students to value the understanding of business, entrepreneurship, and financial literacy as essential tools to succeed. Founded in 1997 by Silicon Valley venture capitalist Tim Draper, the program has reached nearly 50,000 students in 37 states. To learn about becoming a BizWorld volunteer, introducing BizWorld to a school you know, or donating to BizWorld, visit www.bizworld.org or call 650/368-0777.