Newcomb Wins University Award; Community ThanksWhen Bernard "Bernie" Newcomb, '65, co-founder of E*Trade and a prominent donor to the College of Business, received the OSU Distinguished Service Award at this year's commencement, he was recognized for achieving extraordinary success in his career and for being an excellent role model for 2006 graduates.
Newcomb is a business entrepreneur, philanthropist and visionary leader whose work as co-founder of E*Trade helped to revolutionize the way that investors research, buy and sell their stocks.
But what community members at a College of Business reception highlighted was the impact Newcomb had on their lives, how he overcame adversity and how he continues to be an inspiration to many.
The Newcomb Effect
Upon his retirement, Newcomb began a second career as a philanthropist, contributing $6.1 million to support to the OSU College of Business, a gift that established endowments for student scholarships, faculty positions, and programs in the college.
 For student Mike Powers, a junior in business, the Newcomb scholarship enabled him to volunteer instead of having to find a job to pay for school. Powers commented that his involvement in volunteer organizations directly increased his leadership experience, maturity and preparation for life after graduation. He said that the philanthropic spirit behind Newcomb's scholarship has inspired him to seek ways to give back to others less fortunate.
For Professor Erik Larson, being named a Newcomb Fellow meant recognition and respect from colleagues. Larson noted that the significant financial award motivates winners to live up to the intent of the award-thus raising performance and contributions to the college.
Overcoming Adversity
Declared legally blind because of vision impairment at birth, Newcomb attended the Oregon School for the Blind for two years before entering the public school system in Scio, Ore., in the third grade. In Scio, where he was known as "Bing," he enjoyed a great deal of success and graduated as valedictorian from Scio High School in 1961.
Gary Tempel, Scio School District Superintendent, recalled with fondness the impact Newcomb had in bringing pride to the community. Temple said that Newcomb was forced to participate in sports from the sidelines yet spoke fondly of those days and the things the Scio teams accomplished.
When Newcomb donated to the Scio High School football facility and track project, Tempel said the change in the community and students was impossible to describe. "They went from believing they had the worst facility in our league to knowing that they have the best; and their demeanor and work ethic reflects the pride they feel."
According to Bob Daugherty, a former Scio High School activities director, "his (Newcomb's) gift went much deeper than money. He was able to give the community something to be proud of, a facility to exercise on and a role model."
An Inspiration
College of Business Dean Ilene Kleinsorge thanked Newcomb for "touching so many lives and having such an impact." While noting his contributions to the school's internship program and the Austin Entrepreneurship Program, as well as scholarships and faculty awards, she quoted a paper that a group of students wrote for an entrepreneurship class. They had interviewed Newcomb on his entrepreneurial experience. It read:
"Getting the opportunity to meet such an entrepreneurial giant was a great experience. We got to see how the knowledge we are learning in class applies to the real world. Bernie is a great example of someone who has achieved success through doing things the right way, making ethical choices, staying grounded and making a positive lasting impact on the communities he is involved in. Bernie Newcomb is a living example of the American dream and an all around great role model."
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