PSU Magazine Spring 1987

• • • The man behind the chair At i-\inter Convocation in j anumy, President Sicuro thanked Herbert Retzlafffor his generous gifi of PSU's first endowed chai1: by Clarence Hein and Cynthia D. Stowell B ehind Portland State's first endowed chair - the Herbert Retzlaff Chair of Management Accounting - is an unassuming retired accountant who is proud of what he has accomplished . And he wants future PSU students to experience a similar degree of success. Retzlaff, treasurer of Fred Meyer Inc. fo r more than 30 years, has presented Portland State with the generous gift of the Uni versity's first endowed professorship. TC? be estab-. lished in the School of Busmess Admm– istration, the Herbert Retzlaff Chair of Management Accounting wi ll foster the concept of accounting as a valuable management tool with the accountant as a key player in developing manage– ment strategy. This is an idea that Retzlaff began promoting as far back as 1939. "I hope that this cha ir in a small way will contribute to producing the type of leadership that this country will need in the increasingly competiti ve international economy which we wi ll have from now on," aid Retzlaff when his gift was forma ll y acknowledS"ed at the Un iversity's winter convocauon 111 January. Born in Germany in 1903, Retzlaff grew up during the period of high inflation following World War I. " It was very discouraging for a young fellow," he said in a voice still accented after 60 years in Portland. He came to the United States in 1925 to take a job with Portland Gas & Coke Co. When he joined a private accounting firm a few years later, Retzlaff began studying nights and passed his CPA examination in 1932. " I worked like hell," he said. That is one reason he identifies with Portland State students, many of whom have chosen the same path. Retzlaff joined Fred Meyer Inc. in 1940, at a time when the upstart retail firm was trying to establish itself. "That was the greatest education I ever had," said Retzlaff. "We lived through the time when a relativel y small company moved to become the biggest retailer in the state ... in several western states." His adm iration for the late Fred Meyer is plain . "He was the most brilliant man I ever met, reall y. He could quote yo u Shakespeare and Goethe by the ream. His favorite saying always was, There is a tide in the affairs of man which, taken at its flood , leads on to fortune.' And he , of course , had gone with the tide. He recognized self-service when it came along. He didn't invent it in foods, but he did invent it in non-foods." PSU MAGAZINE PAGE 9 Thirty years after hitching his star to Fred Meyer, Retzlaff retired from his position as treasurer-a comfortable, but never pretentious, man. " I spent my life in the financial end of business and I wanted to do something for education in that area," he said . He became acq uainted with PSU's School of Business Admi nistration through accounting professors Peter Turney and Richard Visse . Retzlaff settled on Portland State as the recipient of his bequest for .three reasons: "First, because I have lived here for 60 years and this is my home," said the Portland Heights resident. "Second , Portland State has the largest business school in the state. And , third , it has the type of students-older and more likely to be working already-who wi ll be more receptive to these ideas." Retzlaff said he was also impressed with the Portland State fac ulty and the wide ra nge of interests they represent. "Well, (PSU) has been of S"reat help to Oregon in clarifying our ideas, and we wanted to provide omething in our will . . . so it's kind of a cooperative venture." Vergil Miller, dean of the School of Business Administration, said a national earch would begin soon to fill the Herbert Retzlaff Chair of Manage– ment Accounting. PSU