As a man in his twenties, Regent Philip Power (D-Ann Arbor) bought a handful of weekly newspapers and built a small publishing empire that now includes 60 community newspapers.
Thirty years later, Power sits in a different leadership position - this time, as the senior member of the University Board of Regents.
His ties run deep into the University. The Power Center bears his family name and was built with money donated by his father.
"My father was on the board in the '50s," Power said. "My late wife Sarah was on the board. The only thing that I contribute (as the most senior member of the board) is institutional memory."
University historian Robert Warren said leadership in the University often emerges among the regents, and often such leadership stems from the senior regent.
"Phil came on as a regent in kind of a sad way, after the death of his wife," Warren said. "He has always been an active regent. When someone is senior, they have seen a lot, and that does give them the benefit of the perspective of where the regents have been."
After the statewide election in November, the board gained two new members: Regent Olivia Maynard (D-Flint) and Regent S. Martin Taylor (D-Grosse Isle). But the board also said farewell to a combined 40 years of experience with the departure of former Regents Deane Baker (R-Ann Arbor) and Nellie Varner (D-Detroit).
This rapid turnover has left an unusual gap of experience in its members - none of which have served a full term as regent.
"Up until the time that Regent Baker left the board he was the institutional memory," Power said. "There is no doubt that with the turnover on the board in the last 10 years, losing that kind of experience hurts.
"I think also that the University is facing some very new problems," Power said. "If there was ever such a thing as an 'old boy network' on the board ... well, that doesn't exist now. That allows the board to confront fresh problems with a fresh prospective."
Maynard said Power is very well qualified to handle the responsibilities that come with the senior regent role.
"He does have a lot institutional knowledge and wisdom," Maynard said. "There is a tradition that the senior member provides a lot of knowledge and insight. I think he has a lot of the depth and background to do a very good job."
During the past year, the board has spent a significant amount of time involved in one of the most extensive presidential searches in the University's history. The board faced a great deal of criticism and scrutiny during the search process, including a lawsuit filed against them by three local newspapers.
Power, who studied political theory and philosophy as an undergraduate at the University and as a Marshall Scholar at Oxford Univeristy, said time will heal the wounds inflicted by the controversy of the search.
"When the history of the board is looked back on, I believe we will be judged to have acted prudently and responsibly," Power said. "Now we have a new president and have a chance to take a breath and go back to being reflective members of a board that assists the president and ensures that the institution is well governed."
Nicholas Steneck, a history professor who teaches a class on the University's history, said the importance of the senior regent and the role of historical memory depends on how active the board chooses to be.
"With all of the problems over the search we had, the regents have seemed to kind of crystallize and have kind of taken a more active role in the affairs of the University," Steneck said. "If that is the case, then institutional memory will be very important."
Power said he views the board as a watchdog for the University, to see that the University is governed correctly.
"I came on the board when Robert Fleming was interim president," Power said. "I remember him saying the purpose of the board is not to govern the University well, but to ensure that it is well-governed."
When historians begin to consider what America contributed to the world in the 20th century, Power said, they will conclude that the greatest contribution was the creation, maintenance and access of serious public universities to all - rich and poor.
"I think that these institutions are infinitely important to our society," Power said. "They are worthy of large amounts of money, of support and passion.
"That's why we do it. We don't get paid, don't get perks and we work hard. We do it because helping these special kind of public universities is a very high priority. We do it because we love the University of Michigan."
Power said a major problem that has developed in higher education is the shifting of educational cost from the government to universities, and then to the population as a whole, including students and families.
"Thirty years ago there was a broadly shared view that it was proper public policy for people to support certain kinds of public institutions, in the idea that the society as a whole would be better off," Power said. "That general idea led to people in the Legislature supporting the University of Michigan.
"Over the last 30 years we have seen kind of a change in public policy," Power said. "More and more the people in government see supporting the University as an expense, rather than as a welcome obligation."
Power said one of the primary responsibilities of the board is to be an intermediary between the University and the government.
"We can be very helpful to the University, by helping them understand what the political system is all about, and we can be helpful to the political system by telling them what the University system is all about," Power said. "We are kind of a linking point between two quite different worlds."
JOSH BIGGS/Daily
Regent Philip Power (D-Ann Arbor) sits in front of his computer in his Ann Arbor office. After 10 years of service on the University Board of Regents, Power has become the senior regent.