Mercy Corps, Google.org and the Source of Hope Foundation have joined forces to launch the Arab Developer Network Initiative (ADNI) in the Gaza Strip and West Bank. Google.org, the philanthropic arm of Google, is supporting the first two years of this effort with a $900,000 grant, and the Source of Hope Foundation is providing $1 million. The initiative is intended to spark innovation in information and communications technology (ICT) in the region, and catalyze income opportunities for youth, reaching over 1,000 Palestinian entrepreneurs in the first year.
From the Lower East Side to Africa, Stephen and Pilar Crespi Robert are focusing their philanthropy on helping the poor. It is a full-time effort for the couple and the mission of their Source of Hope Foundation.
STAMFORD, Conn.–(BUSINESS WIRE)–Dec. 10, 2003–Xerox Corporation’s (NYSE:XRX) board of directors today elected Stephen Robert to the board. The board also declared quarterly dividends for the company’s Series B and Series C preferred stock.
Robert, 63, is the chancellor of Brown University, chairman of Robert Capital Management, LLC, and former chairman and chief executive officer of Oppenheimer Group, Inc. His election to the board is effective January 1, 2004.
“Stephen Robert is a respected and successful leader who brings to Xerox vast knowledge of global financial operations,” said Anne M. Mulcahy, Xerox chairman and chief executive officer. “His financial acumen will serve Xerox and its shareholders well as we continue to strengthen our position as a leading technology company.”
Robert joined Oppenheimer in 1968 as a portfolio manager of the Oppenheimer Fund. He became a partner in 1970 and a member of the executive committee and director of research in 1977. In 1979, Robert became president and, in 1983, assumed the role of chairman and CEO. He retired from Oppenheimer in 1998 and became chancellor of Brown University that year.
A graduate of Brown University where he earned a bachelor of arts degree, Robert is a member of the Council on Foreign Relations, director of the New York Philharmonic, former director of the Twin Towers Fund, director of the Educational Broadcasting Corporation, and a member of the Blackstone Alternative Asset Management advisory board.
With Robert’s election, Xerox’s ten-member board is now 80 percent independent, comprised of eight independent directors in addition to only one employee director, Anne Mulcahy, and one Xerox-affiliated director, Yotaro Kobayashi, chairman, Fuji Xerox Co., Ltd.
In other board actions today, a dividend of $1.5625 was declared on the Series B convertible preferred stock issued in connection with the Xerox employee stock ownership program, and will be payable Jan. 1, 2004, to shareholders of record on Dec. 12, 2003. The board also declared a dividend of $1.5625 per share on the 6.25% Series C mandatory convertible preferred stock issued last June. This dividend will be payable Jan. 1, 2004, to shareholders of record Dec. 16, 2003.
Note to Editors: For more information on Xerox, visit www.xerox.com/news. XEROX(R), The Document Company(R) and the digital X(R) are trademarks of XEROX CORPORATION.
Journalist, business executive, and philanthropist Stephen Robert’s distinguished career has included a number of prominent positions with leading financial and academic institutions. Mr. Robert joined Oppenheimer & Co., one of the world’s leading investment banks, in 1968 as a Portfolio Manager, and quickly rose to become the company’s President by 1979. In 1983, he took over the role of Chairman and Chief Executive Officer, and, through a management buyout, Mr. Robert became the bank’s principal owner in 1986.
Stephen Robert’s career in finance has provided him the background necessary to report on the financial sector for a variety of leading publications. In 2010, Mr. Robert wrote a piece for Forbes Magazine entitled The Fed’s Japanese Mistake Kicks Working People in the Teeth. In the article, he offered his opinion about the Federal Reserve’s decision to drive down long-term interest rates while increasing inflationary expectations. Mr. Robert warned of the dangers such a policy could portend, and openly wondered how the nation’s top bank learned nothing from a similar circumstance involving Japan’s economy during the mid-1990s.
A political as well as a financial journalist, Stephen Robert wrote a piece for The Nation in 2011 that examined the political strife between Israel and Palestine. Having taken several pilgrimages to Israel, Mr. Robert discussed his uneasiness at witnessing the Israeli government’s treatment of the Palestinian people. He concluded his article by recommending a two-state solution, and by stating his hope that President Obama will lead an effort to unite the two warring groups. He again addressed this issue in an article he wrote for Israel’s oldest newspaper, Haaretz, called Can Moral Nations Abandon Palestine?