Kelley of the Caribbean

Kelley School of Business graduate Stanley Benecki recently made a decision that takes the definition of the phrase “hands-on learning” to a whole other level. \nBenecki has donated $1.95 million dollars of beachfront property on a Florida island to the Kelley School.\nHis intention with this generous gift was for students to have the “opportunity to play developer by getting out there and figuring out ways to market and increase” the value of the land. Any of the profits made by the students’ ventures on the island will be given back to the Kelley school and regarded as a creative donation from Benecki, who earned his degree in real estate. \nBoth undergraduate and graduate students in the real estate club will also be allowed to participate in whatever projects Kelley decides to undertake, expanding the experience to those who may not be in the business school. \nThe island is mostly owned by a group called the Nature Conservancy, which works with the government and other groups to protect nature. The waters around the island contain many shipwrecks from colonial times, and it used to be a hide-out for pirates and smugglers. Today, fewer than 100 Florida residents live on the island, which can only be reached by plane or boat. \nWe here at the Indiana Daily Student editorial board believe this was a very unusual – but very generous – gift. Echoing the sentiments of Jeffrey Fisher, director of the Benecki Center for Real Estate Studies, it’s nice to know that IU has influenced Benecki’s life enough for him to give back to the school in this way. \nWe do urge the Kelley School, however, to tread with caution. This property could indeed be a valuable learning tool if used carefully. Kelley should make sure that only a select group of students and the right programs have access to this resource. The students should also remember that although it will indeed supplement their educations, having an island lab rat to experiment on is by no means fundamental to their educations. Students who don’t have an opportunity to “play developer” might also have the tools needed to achieve a great career in real estate. \nIn addition, they should remain highly considerate of the fact that there indeed people who live on the island and that they should be aware of the consequences any of the Kelley School’s actions may have on these people and their lives. \nAs mentioned before, the majority of the island is a nature preserve of sorts. If it can, Kelley should remain aware of this and try to maintain as much of the environmental integrity of the place as they can, out of respect to its ecosystem, history and residents.\nEco-tourism might be an unconventional yet extremely profitable measure to take. \nWith that, we sincerely wish the good folks over at the business school the best of luck in this venture. We hope it is both a fun and enriching experience. And if pillaging is on your agenda, cheers, mates. Yo ho ho and a bottle of rum.