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Issue # 031402

Special Announcement

Xpress Press(tm) News Service

Financial Literacy Becomes Major Issue in the wake of Enron Disaster

IEEE offers E-learning courses On Business Finance and Investing To membership

Washington DC/Clearwater Florida -- March 7 2002 -- /Xpress Press/ -- IEEE
Educational Activities announced that it is now providing e-learning
courses to its 375,000 members in financial and investment topics. The
courses, available on the IEEE Web site
http://www.ieee.org/eab/affinity.htm, were produced by Competence Software
of Clearwater Florida, a leading provider of business finance and
investment e-learning courses.

"We applaud IEEE's initiative in helping to improve the financial and
investment competence of their membership," stated Competence Software CEO
Larry Byrnes. "With the stock market downturn of the past 18 months and the
lessons learned from the Enron debacle, one of the most important actions
that any organization can take is to train their members in the basics of
business finance and investing."

The courses are available for purchase through a joint agreement between
IEEE and Competence Software at a special discount for members of IEEE. "We
are pleased that we can make these affordable, interactive courses on
finance and investment available at a time when they are most needed," said
Lyle Feisel, IEEE Vice President, Educational Activities.

As a recent headline article released by Fox News pointed out, the issue of
financial literacy can be expected to gain more attention not just for IEEE
members but for the public at large.

The Onion, a popular satirical newspaper based in New York City, recently
spoofed the nation's financial illiteracy with its faux headline:
"Americans Would Be Outraged if They Understood Enron Collapse."

Federal Reserve Chairman Alan Greenspan, in a recent speech to the Senate
Banking Committee, called Americans particularly "vulnerable to fraud and
abuse."

"Chairman Greenspan is correct," stated Competence Software's Byrnes. "How
many people can understand a financial statement? How many employees really
understand their 401(k) investments? Of course, numbers on financial
statements can always be falsified but what if an employee starts reading a
financial report and promptly goes to sleep. Any one of America's high tech
firms would not begin to hire an engineer if they did not have their
engineering basics in. Finance is no different. Without a good
understanding of money, finance and investing, how can anyone expect to
really succeed in today's business world. IEEE is addressing this problem
head on."

The courses offered are Financial Competence(r) and Investment
Competence(r). Also available on the IEEE site is a basic computer literacy
course called Understanding Computers.

About IEEE
http://www.ieee.org/

IEEE (The Institute of Electrical and Electronics Engineers, Inc.) is the
world's largest technical professional society, serving the interests of
more than 375,000 members in the information and electrotechnology
communities in approximately 150 countries. The Educational Activities
Board (EAB) of the IEEE recommends educational policy to the IEEE Board of
Directors, and coordinates the Institute's educational activities,
programs, and products.

About Competence Software
http://www.competencesw.com

Competence Software, founded in 1992, provides computer and web based
training products which help corporate employees understand and communicate
in the areas of business finance, investing and information
technology. Over 500,000 of its Financial Competence(r) and Investment
Competence(r) courses are in use by individuals and corporations large and
small. Courses from Competence Software have been voted "Best of Breed" by
leading on line learning and training organizations like Click2Learn, New
York Institute of Finance, etc. It's client list includes corporate giants
like Merrill Lynch, Citibank, Dow Chemical, DuPont, IBM Credit Corp.,
General Electric, Barclays Bank, Bank of America, Dun and Bradstreet, 3M,
Volvo, Columbia Gas, T. Rowe Price, Chevron, Sprint, Bell South, Office
Depot. John Deere, Nortel, Johnson Controls, Ingersoll Rand, Cargil, Burger
King, Mail Boxes Etc., Cytec, Nestlé Canada, Royal Bank of Canada, Pitney
Bowes and the US Federal Reserve Bank. Educational clients include
University of Toledo, Penn State, University of Chicago, University
of Nevada Las Vegas, National Academy of Finance, etc.

For details, contact:

Competence Software U.S.
Larry Byrnes, CEO
Phone:
Fax:
Email: [email protected]
http://www.competencesw.com

IEEE
Name: Jason Prue
Educational Activities
Phone:
Email: [email protected]

Link to this story online:
http://www.xpresspress.com/news/competence_030702.html

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