Bloomberg News/ Steamboat Summer Internship

Applications deadline: October 20, 2008.

Introduction and Background

Steamboat Foundation invests in talented undergraduates who have the promise to become engaged leaders and pioneers in their field of interest. The Foundation’s Summer Scholar Program cultivates leadership in these young men and women through a unique summer fellowship that is unparalleled in the world of college internships. Through a highly selective process, an exclusive group of college juniors are chosen as Steamboat Scholars each year. The opportunity includes:

• A prestigious 10-12 week internship, in this case at Bloomberg News, with a mentor and individual research project.
• The benefit of living and learning with a peer group of talented young leaders in New York City and Boston
• Participation in Foundation-sponsored dinners and cultural events, including the opportunity to meet highly accomplished individuals from a range of fields
• Bi-weekly dinners and dynamic leadership coaching that encourages personal and professional development and risk-taking.
• A financial award of $12,000

Each year, a single student from each of the Foundation’s university partners, including UNC-Chapel Hill, is selected to participate in a corresponding internship, generously hosted by one of eleven preeminent grant partners that represent a wide range of industries. In addition to Bloomberg News, these include: The Center for Court Innovation, Cold Spring Harbor Laboratories, Dana-Farber Cancer Institute, Facing History and Ourselves, Forbes Inc., Hospital for Special Surgery, Isabella Stewart Gardner Museum, New York Football Giants, Vineyard Vines and WABC & WPLJ Radio.

Steamboat Foundation was founded in 2003 by Andrew Walter and Peer Pedersen Jr., Managing Partners of Blue Orchid Capital, LLC. Their vision is to invest in talent by offering truly unique work experiences to exceptional students who might not otherwise have access to influential leaders in their chosen field of interest. The designation of “Steamboat Scholar” recognizes the extraordinary talent and accomplishment of the award recipients.

Grant Partner:
BLOOMBERG L.P., New York City

Michael Bloomberg, now mayor of New York City, founded his eponymous financial data network in 1981 following his role as a general partner at Salomon Brothers, where he headed equity trading, sales and systems development. Bloomberg has grown to a global news service, encompassing real-time newswire, television, radio and Internet as well as an award-winning magazine and publishing division. Bloomberg has helped change the way the world looks at financial news and information and drives investment decisions that affect millions of people and billions of dollars worldwide.

Visit the Steamboat Foundation site: http://www.steamboatfoundation.org/

Steamboat Scholar Opportunity

The Steamboat Scholar will work at Bloomberg News for 10-12 weeks in the summer of 2009, assisting in reporting and writing for the broadcast or print operations of the largest online financial news service. Bloomberg News interns contribute to the coverage of financial markets, companies, economy and governments in a competitive, real-time news environment. The Scholar will also have access to a unique mentor, Chartered Financial Analyst Tom Keene, who writes a column on economic trends in the financial markets, hosts the twice-daily radio show “Bloomberg on the Economy,” and contributes to the television broadcast network and editorial team. One-on-one sessions with Mr. Keene and observation of influential financial players will enrich the Scholar’s understanding of key trends and dynamics in the global economy and culminate in an individual research project describing the relevant market issues of the summer. Scholars are encouraged to incorporate this research project towards their senior honors theses.

Candidates should be comfortable with finance and be pursuing degrees in either business or journalism or both. The Steamboat Scholar will rely on excellent verbal and written communication and interpersonal skills. Journalism experience is preferred.

Scholar Experiences

2005 Steamboat Scholar Devin Markell worked closely with economist and Editor-at-Large Tom Keene, assisting him and the producers of his daily radio show "Bloomberg on the Economy."  Further, he learned to examine market trends from a macroeconomic perspective with help from Mr. Keene, the Bloomberg system, and other members of the economics news team. 

2004 Steamboat Scholar Prem Thomas worked as a reporter and researcher in the Public Finance Team at Bloomberg News, where he produced four bylined articles. Prem covered the resignation of New Jersey Governor James McGreevey as well as option rate security pricing developments in the municipal bond market; he also participated in an investigative project to survey state employee healthcare throughout the United States.

Eligibility

Candidates must be third-year undergraduates and have the support and highest recommendation of The University of North Carolina at Chapel Hill. Students must also demonstrate financial need, either by being in receipt of a needbased scholarship award and/or producing a written self-declaration of need. This written statement will be required if the applicant is not receiving financial aid directly from UNC-Chapel Hill. Only students from UNC Chapel Hill will be considered for the Summer Scholar Program at Bloomberg.

General Information

The Steamboat Scholar will work over the summer for approximately 10 weeks. Scholars are subject to the applicable sponsor’s company employee rules. Grant Scholars may receive academic credit if an agreement is made between the grant sponsor and the student’s university/college.

Previous Scholar Experiences

• 2007 Steamboat Scholar Kayla Tausche worked for the US Consumer News Team, covering company earnings, retail sales and consumer price indexes. Alongside the consumer team, she wrote breaking news stories from company SEC filings and press releases, producing more than 30 bylined articles and garnering 20 reporting credits, while compiling data and analytics for the Bloomberg terminal.
• 2006 Steamboat Scholar Rachel Edelsberg worked with Opinions Editorial team leader James Greiff, writing columns and obituaries. She also worked with other interns at the London and Washington, D.C. Bloomberg offices to create a pilot television show that informs college students about various financial issues. Rachel took on a leadership role in the broadcast productions, preparing and editing significant portions of the show’s content.
• 2005 Steamboat Scholar Devin Markell worked closely with Tom Keene, assisting him and the producers of his daily radio show "Bloomberg on the Economy." Further, he learned to examine market trends from a macroeconomic perspective with help from Mr. Keene, the Bloomberg system, and the economics news team.
• 2004 Steamboat Scholar Prem Thomas worked as a reporter and researcher in the Public Finance Team, where he produced four bylined articles. Prem covered the resignation of New Jersey Governor James McGreevey, as well as option rate security pricing developments in the municipal bond market; he also participated in an investigative project to survey state employee healthcare throughout the United States.

Grant Specifics

• Steamboat Foundation gives a $12,000 award to the selected Steamboat Scholar for the period of June 1 to August 15, 2008. Payments are made in three installments throughout the summer.
• The program requires the Scholars to live together in dorms at the New School in Manhattan during the internship period. Scholars are given preferential rates and are expected to use a portion of their award to meet this housing requirement.
• As part of the program, the Scholar must participate in all Steamboat related events, including:
  • A two-day orientation on June 2 and 3, 2009 with other Steamboat Scholars
  • Opening reception at the Forbes Galleries on Tuesday evening, June 3, 2009
  • Two to three Foundation Dinners with distinguished guests throughout the summer, including at least one trip to Boston
  • Bi-weekly Leadership Dinners with facilitator Dr. Tom Inck
• Scholars are required to submit final documentation at the end of the program, including a Final Essay and Evaluation to receive their final award payment.

Appliaction Procedures/Deadlines

Candidates must complete an application form and submit it along with a cover letter and attachments to the contact information listed below. Incomplete applications will not be reviewed.

Applications are due by October 20, 2008.

Please do not submit applications directly to Steamboat Foundation.

Submission:

The Office of Distinguished Scholarships
Director 225 Graham Memorial Building
Campus Box 3510
Chapel Hill, NC 27599
Phone: 919-962-4053

Two letters of recommendation (one faculty) should be submitted with the application packet.  The Office of Distinguished Scholarships suggests applicants provide this letter, or a version of it, to all those whom you ask to write recommendations. The original and five copies should be enclosed in a single envelope with the recommenders' signatures across the seal. 

All applications materials are due by noon, October 20, 2008.   Incomplete applications will not be reviewed.