World Business Chicago (WBC) recently announced that its co-chair, Chicago Mayor Richard M. Daley, appointed Michel Gourvennec, President and Chief Executive Officer of Veolia Environnement North America, to its Board of Directors.

"We are pleased that Veolia recently selected Chicago for its North American headquarters and know that Mr. Gourvennec will be a valuable addition to World Business Chicago's Board of Directors," said Chicago Mayor Richard M. Daley. "Chicago is often praised for its innovative environmental initiatives, so adding the North American President and CEO of the world's largest environmental services company to World Business Chicago's board makes great sense."

"I am honored by the invitation to join World Business Chicago's Board of Directors, and look forward to working with this impressive group," said Gourvennec. "My aim is to help support our city by endorsing its environmental initiatives, renowned universities and diverse culture. These resources present a tremendous opportunity for national and international companies looking to make Chicago their home, as we recently did."

Veolia signed a 34,500-sq.-ft. lease in the Aon Center (200 East Randolph Street) beginning earlier this month, and occupies one floor overlooking Lake Michigan, downtown, the Gold Coast and Millennium Park. Veolia's new headquarters builds on a base of approximately 1,000 local employees and combined annual revenues of approximately $240 million in the Greater Chicago area and $4.5 billion in North America.

Gourvennec joins 18 of the city's business leaders who help direct WBC, fostering economic growth and jobs for the city. The WBC board is co-chaired by Mayor Daley and Michael D. O'Halleran, SEVP and Director, AON Corporation.

"Mr. Gourvennec will be an asset to our Board of Directors," said Rita Athas, executive director of World Business Chicago. "His international environmental experience brings another sector to our diverse board, and his commitment is parallel to our Board's strong engagement in Chicago's business community."

Every day, Chicago parents send their children off to school in hopes that they will receive a good education. While most students graduate with a solid understanding of reading, writing and mathematics, some may argue that a significant number leave school without even a basic understanding of personal finance.

Young adults today face several financial challenges, and record numbers are using -- and abusing -- credit and loans. According to a 2006 study by the Center for Responsible Lending, 18- to 24-year-olds spend nearly 30 percent of their monthly income on debt repayment -- double the percentage spent in 1992. Additionally, the 2008 Jump$tart Coalition® for Personal Financial Literacy survey funded by the Merrill Lynch Foundation showed that financial literacy among high school seniors continues to decline, and scores of the 2008 high school senior class rank lower than their 2006 peers.

Of course we can't overlook the current economic and financial industry situation, which makes the case for financial education more compelling than ever. Our community's young adults are making personal financial decisions today that can affect them for the rest of their lives. It is important to arm them with the basic knowledge they need to make smart choices about their money and their future.

Some of our Chicago leaders are stepping in and taking this responsibility into their own hands. For example, local Merrill Lynch financial advisors have taught Chicago public high school students about financial responsibility through our Investing Pays Off® curriculum as part of Maggie Daley's After School Matters program.

As a leading proponent of education for Chicago's youth, Mayor Richard M. Daley encourages the Chicago civic and corporate communities to support individual schools as part of the Principal for a Day program. Over the program's 12-year history, many Chicago non-profit organizations and businesses have established long-term partnerships with Chicago Public Schools as a result of this focus on giving back to the community.

This year's Principal for a Day event will take place on Oct. 30. As lead sponsor for the third year in a row, Merrill Lynch employees will visit local schools that day to shadow principals through their daily routine to experience the triumphs and challenges of running a public school, as well as discuss with students the importance of financial literacy.

These volunteer programs and events are just a few examples of how our community can create change for our youth. And they represent the start of something great. But this is the first step, and this subject demands your attention and support. If we all work together, we can make a difference.

I encourage my fellow Chicago business leaders to support financial education in local schools and communities. You can commit a small amount of your time to participate in your local board of education decision-making process and assume leadership roles on community committees and task forces.

Financial literacy and educating today's youth is an important issue. Not only does this affect our children and our community, this impacts the future of our economy and country. Now is the time for us to take action and invest valuable time in our youth.