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'FATHER OF INDEX FUNDS,' FOUR OTHERS
TO BE INDUCTED INTO GATTON COLLEGE
ALUMNI HALL OF FAME

By Dan Adkins

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The inductees into the Gatton College Alumni Hall of Fame are Barry K. Allen of Indianapolis, William L. "Bill" Fouse of San Rafael, Calif., James L. Gibson of Lexington, Gretchen W. Price of Cincinnati and Douglas J. Von Allmen of St. Louis.

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March 1, 2000 – (Lexington, Ky.) – Five people, including the “father of index funds” and a former president of Ameritech, will be inducted today into the University of Kentucky Carol Martin Gatton College of Business and Economics Alumni Hall of Fame at noon at the UK Student Center Grand Ballroom.

The five are:

        Barry K. Allen, 52, of Indianapolis.  Allen is a former president of Ameritech and currently is president of Allen Enterprises L.L.C., a private equity and management company he formed last August.  He is a founding board member and investor in the First Business Bank of Milwaukee, a partner in Investor Properties Inc. of Indianapolis, an adviser and investor in Baird Capital Partners III and has initiated the Allen Investment Group, which focuses on professional ownership of small businesses.  Allen earned his bachelor’s degree in business administration at UK in 1970.  After leaving UK, he served as president of Wisconsin Bell Telephone, Illinois Bell Telephone, Marquette Electronics and Ameritech.

        William L. “Bill” Fouse, 72, of San Rafael, Calif.  A native pf Parkersburg, W.Va., Fouse became a major influence in investing when he developed the index fund.  His impact was noted in Pensions & Investments magazine, which named him one of its “Men of the Century” in its December 1999 issue.  Fouse earned his bachelor’s degree in commerce from UK in 1950 and his MBA in 1952.  He worked for Mellon Bank, where he unsuccessfully pitched his proposed index fund, then joined Wells Fargo Bank, where he launched the first index fund in 1971.  He returned to Mellon in 1983 to co-found Mellon Capital Management Corp.  He and his wife, Linn, have two daughters, Claudia Fountaine and Heather Clarke, and four grandchildren.

                    James L. Gibson, 65, of Lexington.  A native of Junction City, Ky., Gibson is a graduate of Centre College who earned his MBA (1959) and doctoral  (1962) degrees at UK.  He began his career in academia at the University of Texas-Arlington, then returned to teach at Centre in 1963.  He joined the faculty at UK in 1966 as an associate professor.  He served as director of organizational development in the Kentucky Department of Health from 1971 to 1973 and as director of the Office for Policy and Budget in the Kentucky Cabinet for Human Resources from 1973 to 1974.  He was promoted to full professor at UK in 1972, and was appointed the Kincaid Professor of Management in 1987.  In 1971, he began a collaboration with James Donnelly and J.M. Ivancevitch on a textbook titled “Selected Readings in Management,” which has been through nine editions through 1998 and has been translated into Chinese, Indonesian, Portuguese, Russian and Spanish.

        Gretchen W. Price, 55, of Cincinnati.  A native of Pittsburgh, Pa., Price came to UK in 1972, earning her bachelor’s degree in accounting in 1976.  After graduation, she went to work for Procter & Gamble as a financial analyst, then moved on to a variety of positions, including accounting manager of the Dallas plant in 1977, forecaster in the financial analysis division in 1979 and senior analyst in 1980, finance manager for the paper products division in 1985, eventually becoming vice president and comptroller of Procter & Gamble Worldwide’s Global Internal Controls.  Most recently, she was named Procter & Gamble’s vice president and treasurer.  Price serves on the Greater Cincinnati Scholarship Association Board, the Financial Executives Institute (both in the Cincinnati chapter and national organization), and has served in various positions with Cincinnati’s United Way and the Cincinnati Fine Arts Fund.

        Douglas J. Von Allmen, 59, of St. Louis.  A native of Louisville, Von Allmen worked on a cardboard-box plant assembly line after graduating from high school.  He came to UK and studied accounting, working as a counselor in the residence halls, keeping books for several area small companies and serving as treasurer of the UK Federal Credit Union.   After earning his bachelor’s degree in 1965, he joined KPMG Peat Marwick, then became controller at Horace Mann Educators.   He later returned to Peat Marwick and got involved with a business partner to buy and sell companies, specializing in leveraged buyouts of wholesale-retailers such as PenUltima-The Writing Store, Temple Industries Inc. and Homestar Industries Inc.  He co-founded St. Louis-based Group One Capital, a venture capital firm.  Last year, he donated gifts to the UK Gatton College, which named the School of Accountancy in his honor.


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