Monster, the leading global online careers and recruitment resource and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST), and Bank of America, one of the world's largest financial institutions, are teaming to promote the importance of fiscal responsibility and maintaining good credit among college students nationwide. Making It Count, a business unit of Monster, is an educational service provider for students and parents.
Beginning this summer, Making It Count will host free, one-hour seminars on campuses across the country. Sponsored exclusively by Bank of America, the program is designed to teach money management skills that will empower college students to establish healthy financial foundations. Attendees will learn how to design a sustainable budget, and will learn the steps toward establishing a solid credit history.
"Knowing that today's undergraduates are busy with academics, internships and extra-curricular activities, we have developed a succinct, yet informative, program to help them make smart financial decisions," said JR Cifani, Vice President and General Manager, Making It Count. "Sound budgeting skills are more important than ever; a recent MonsterTRAK survey(b) revealed that more than half of this year's college graduates have accrued over $10,000 in student loans."
"Bank of America is committed to students and their long term financial success," said Dennis Morey, Vice President, Bank of America Student Card. "This program will present truly valuable credit education and budgeting skills in an engaging way. We're excited about this program and the alliance we have with Making It Count."
A recent survey(c) of current college students commissioned by Bank of America underscores the importance of this kind of educational outreach initiative:
-- 58 percent have no set budget;
-- 30 percent of college juniors have considered taking time off from school due to financial issues; and
-- 18 percent have no solid idea of how much money they have at any given time.
(a) The Project on Student Debt, February 2006
(b) MonsterTRAK Annual Entry-Level Job Outlook Survey, April 2006
(c) Conducted by Felton Research, Inc., October 2005
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 19 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
About Making It Count
Making It Count provides a nationally recognized series of live, in-school presentations that educate and motivate teens to excel in both personal and professional educational endeavors. Delivered by a roster of skilled presenters from a variety of backgrounds, including members of the U.S. Olympic Team, the corporate-sponsored programs reach more than 2.5 million students every year, and are hosted at over 5,000 high schools and 650 colleges nationwide. More information is available at http://www.makingitcount.com.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the largest Recruitment Advertising agencies in North America. Headquartered in New York with approximately 4,300 employees in 25 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and NASDAQ 100. More information about Monster Worldwide is available at www.monsterworldwide.com.
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 26 local language and content sites in 24 countries worldwide. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://info.monster.com.
Special Note regarding above Monster statements: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.