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IN MEMORIAM
CHARLES WILSON HACKETT Jr.
On December 22, 2002, the McCombs School of Business
and The University of Texas at Austin lost a long-time friend and
colleague with the passing of professor emeritus Charles W. Hackett
Jr. at the age of 81. After joining the faculty in 1966, Charles
served with great distinction as a teacher, scholar, advisor, and
administrator. At the time of his retirement in 1992, he held the
position of Capital City Savings Regents Fellow and Professor of
Finance. Charles is survived by Ruby Bloomquist Hackett, his wife
of 49 years, as well as their two daughters, Jean and Tina, and
three grandsons.
A genuine Texan, Charles developed his life-long devotion to the University
at an early age. His grandfather, William Dunlap Hunter, settled his family
at Hunter’s Bend shortly after the Civil War and Charles was born
in Austin on October 26, 1921. He grew up a few blocks from the campus
where his father, Charles W. Hackett Sr., was a professor of Latin American
Studies. In 1942, Charles received a bachelor of arts degree with honors
from UT and was also elected to the Phi Beta Kappa, Phi Eta Sigma, Pi Sigma
Alpha, and Sigma Delta Pi honor societies. During this time, he served
as editor of The Cactus yearbook and was also treasurer of the
Men’s Glee Club.
After answering the call of his country by joining the Army Air Force during
the Second World War, Charles returned to the University and graduated
with a master of business administration degree in 1948, where he was also
elected as a member of the Beta Gamma Sigma honor society. Following a
two-year stint as a management engineer with the Gulf Oil Corporation,
Charles was once again drawn back to academia, this time enrolling in the
doctoral program at the University of Washington. Combining his business
studies with service as instructor in the department of accounting, he
graduated in 1955 with a doctor of philosophy degree. It was also during
his stay in Seattle that he married his beloved wife Ruby.
Upon receiving his doctorate, Charles accepted a position of assistant
professor in the department of business organization at The Ohio State
University, where he remained until 1956. At this point in his career,
Charles decided to once again use his talents in industry and he was hired
as assistant district credit manager with United States Steel Corporation
in Pittsburgh. He also continued with his academic training, receiving
an executive award for his participation in the Graduate School of Credit
and Financial Management from Dartmouth College in 1964. His employment
with US Steel, which also included the position of industry financial analyst
in Houston, ended in 1966.
Having honed both his teaching and analytical skills in the decade following
his departure from Seattle, Charles finally returned to Austin and the
University, where he was to spend the remainder of his career. Arriving
as assistant professor of finance in 1966, he quickly demonstrated the
commitment and passion for the pursuit of knowledge that marked his 26
years on the faculty. His achievements both in the classroom and in service
to the University lead to his promotion to the rank of associate professor
with tenure in 1969. Although equally adept at communicating the intricacies
of financial economic theory and practice to students at all levels, Charles
really excelled at teaching in the undergraduate program. His specialty,
for which his time in industry left him particularly well suited, involved
teaching courses in financial management, investment theory, and security
analysis. He was promoted to full professor in 1986 and was awarded his
fellowship in 1990.
Throughout his career, Charles was a tireless and selfless participant
in department, college, and university affairs, where his service work
was both diverse and prolific. He was well known among his colleagues as
a man of high integrity with a willingness to stand up for his beliefs.
Most notably, for several years preceding his retirement he held the position
of associate chairman, effectively managing the day-to-day operations of
the department of finance. Consistent with his deep commitment to education,
he also created the position of director of undergraduate programs, which
he held for three years, and served as the first chairman of the department’s
graduate studies committee. At the university level, Charles served on
both the University Senate and the University Council from 1969 to 1971
and on the Faculty Welfare Committee from 1981 to 1984.
Charles was also generous with his time when called to professional and
community service. He was especially influential in the early development
of the Southwestern Finance Association, one of the leading regional consortiums
of finance academics, for which he held the offices of treasurer and president.
For five years, he also served as editor of the association’s annual Conference
Proceedings. Within the greater Austin community, he was a member
of the Knights of the Symphony and the Town and Gown Club. A long-time
member and former vestryman at Episcopal Church of the Good Shepherd, Charles
also served as treasurer and trustee of Saint Andrews Episcopal School.
Of all his accomplishments, Charles was particularly proud of his efforts
over the years to help deserving students receive financial support that
would enable them to further their educations. It was most fitting therefore
that upon his retirement in 1992 the college established a scholarship
in his name, which awards full tuition to an incoming freshman each fall.
That is but one tangible reminder of a dedicated and demanding educator
who touched the lives of so many thousands of students. He was a valued
and respected colleague whose many contributions greatly improved the quality
of educational experience at the university he served so well. Charles
W. Hackett Jr. was a true gentleman scholar and he will be deeply missed
by all who knew him.
<signed>
Larry R. Faulkner, President
The University of Texas at Austin
<signed>
John R. Durbin, Secretary
The General Faculty
This Memorial Resolution was prepared by a special committee consisting
of Keith C. Brown (chair), Stephen P. Magee, and Lewis J. Spellman.
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