U.S. PRESIDENT BARACK OBAMA & MR. WARREN BUFFETT
White House Photography by Pete Souza, July 18, 2011

President Barack Obama meets with Warren Buffett, the Chairman of Berkshire Hathaway, in the Oval Office.

WASHINGTON- Today, President Barack Obama hosted an education roundtable with business leaders, to discuss building upon strong industry-led partnerships that are working to transform the American education system. White House education Roundtable Participants were Secretary Duncan, Senior Advisor Valerie Jarrett, Domestic Policy Council Director Melody Barnes, America’s Promise Alliance Chair Alma Powell and Founding Chair General Colin Powell, Other corporate partners in attendance include representatives from the Business Roundtable, the U.S. Chamber of Commerce, the Business Coalition for Student Achievement, the Business-Higher Education Forum, and the United Way.

President Barack Obama said, “A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can outcompete countries around the world. America's business leaders understand that when it comes to education, we need to up our game. That's why we’re working together to put an outstanding education within reach for every child. 

Secretary Duncan, Melody Barnes, General Powell, Mrs. Powell and several CEOs held a stakeout with press following the meeting. 

The White House argues that the meeting today will build on President Obama’s sustained leadership to provide for the pressing needs of American education; to work with the business community and to work with leading CEOs in the business community in every endeavor of life.

The White House is focused on corporate investment in science, technology, engineering and math (STEM) education by way of efforts known as “Change the Equation”. The White House is also focused on the support of business partnerships with community colleges. President Obama’s Council on Jobs and Competitiveness, is the private sector response to the needs of the United States of America. The tools being deployed by the private sector are financial support, commitments to work, their areas of expertise and the skills of their employees. There are no commitments being announced today.

"The New Commitments Announced today the CEOs include a commitment to: Community Engagement and Investment to transform the Nation’s Lowest-Performing Schools; a commitment to expand opportunities for students to prepare for livable wage jobs; a commitment to research and development that improves “Next Generation Learning Models and Resources for Students and Teachers”; and a commitment to supporting State-wide “focus on education system redesign.”

Participants in today’s White House meeting included: Marguerite Kondracke, President & CEO of America’s Promise; Alma Powell, Chairwoman of America’s Promise; General Colin Powell, Founding Chairman of America’s Promise; Craig Barrett, Former President & CEO of Intel;  Glenn Britt, CEO of Time Warner Cable;  Steve Case, Former Chairman & CEO of America Online; Brian Gallagher, President & CEO of United Way Worldwide; William Green, President & CEO of Accenture; Fred Humphries, Senior Vice President of Microsoft; Rhonda Mimms, Foundation President of ING; Kathleen Murphy, President of Fidelity Personal Investments; Ed Rust, CEO, State Farm; Randall Stephenson, Chairman & CEO of AT&T; Bill Swanson, Chairman & CEO of Raytheon; Laysha Ward, Foundation President of Target Corporation; David Zaslav, President & CEO of Discovery Communications; Former Governor Bob Wise, President of Alliance for Excellent Education; Anne Finucane, Chair of the Bank of America Charitable Foundation and Bank of America;

U.S. PRESIDENT BARACK OBAMA
White House Photo by Pete Souza, Monday, July 18, 2011

President Barack Obama meets with heads of financial regulatory agencies in the Roosevelt Room of the White House to receive an update on implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This week marks the first anniversary of the President signing into law the strongest consumer protections in history and the most significant reform of Wall Street since the Great Depression.

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"Community Engagement and Investment to Transform the Nation’s Lowest-Performing Schools: America’s Promise Alliance Grad Nation Community Impact Fund will raise $50 million to support the goal of ending the dropout crisis and prepare young people for college and career. The first planning grants from this social venture fund will be awarded in the fall to communities that demonstrate a commitment to local action aligned with the goals of the Grad Nation Campaign, including student supports for our most vulnerable young people.  Applicants will be communities with a low-performing school and a willingness and capacity to build a multi-sector, collaborative approach that includes partnerships with the business community and local school system, and the capacity to raise matching funds to promote local investment to sustain this work.

"Expanding Opportunities for Students to Prepare for Livable Wage Jobs: Bank of America will announce a $50 million pledge to education over the next 3 years, launching this goal through $4.5 million in grants. The investment will support programs that bridge the achievement gap to post-secondary education completion and connect the underserved and unemployed, as well as returning veterans, and individuals with disabilities, to workforce success in high-growth sectors, in particular through community colleges.  Recognizing the need for knowledgeable and skilled workers to compete in the global economy, Bank of America is investing in education as part of its comprehensive lending, investing and volunteer activities aimed at strengthening the economic and social health of communities."

"Research and Development for Next Generation Learning Models and Resources for Students and Teachers: Building on its history of commitment to education and recent $25 million STEM Scholarship grant program in Washington State, Microsoft Education is announcing a new $15M investment in research and development for immersive learning technologies including game based instruction and the creation of a lifelong learning digital archive. Through the creation of these innovative solutions, the disengaged can become passionate problem solvers and the struggling student can be offered other pathways to success.  Rooted in this investment is the understanding that technical innovation alone will not help. Therefore, over the next 3 years, Microsoft is committing to train over 150 thousand educators and leaders and provide access to professional learning communities and training to every teacher in the United States through the new Partners in Learning Network".

"Supporting a Statewide Focus on Education System Redesign: In the past four years, the Nike School Innovation Fund (NSIF) has provided $7 million in innovation grants and thousands of volunteer hours by senior Nike leaders and other employees to support students, teachers and principals in three Oregon public school districts. The Fund is announcing a new commitment as a primary partner of Oregon Governor John Kitzhaber and his initiative to help make the state’s entire education system more nimble, innovative and supportive of the key grades of 9 to 12. With this news, Nike’s commitment to strengthening education in Oregon totals $10 million. The NSIF will now provide a year of funding, expertise and policy guidance that is expected to serve as a model for the Governor’s larger statewide education transformation plan."

U.S. PRESIDENT BARACK OBAMA
White House Photo by Pete Souza, Sunday, July 17, 2011

President Barack Obama, First Lady Michelle Obama, and their daughters Sasha and Malia watch the World Cup soccer game between the U.S. and Japan, from the Treaty Room office in the residence of the White House.

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