OC president gives students update on bond, programs
Mar. 6—Students packed the Zant Community Room in the Saulsbury Campus Center at Odessa College for Pizza with the President Thursday.
It was a chance for students to hear what's going on at the school, future plans, including a $325 million bond issue, and ask questions.
Other top OC officials joined President Gregory Williams for the event, which he has periodically throughout the year.
Williams showed the students what is included in the bond issue that's coming up for a vote May 3. If passed, the bond will raise taxes for home and business owners.
Projects can be found here.
There will be an additional $6.7 million coming from the college, bringing the total project package to $331,753,406. Williams said student housing would be part of the work to be done, but is not coming from the bond.
Trustees approved calling the bond Feb. 14 following the failure of the bond in November for $355 million
This bond is a 30-year commitment, and if approved, property owners of a taxable value $167,000 home would see an increase of about $14 per month in property taxes, a news release issued Saturday stated. The annual cost of property taxes will go up based on each property's specific value.
"Last time we missed it passing by 1.5%-ish and so we've reduced the amount of the bond from $355 million to $325 million," Williams said.
In-person enrollment for fall from 2019 to 2024 has grown, except for a dip during COVID.
Fall 2024 in-person enrollment was 6,044; 2023, it was 5,062; 2022, 4,660; 2021, 4,402; 2020, 3,922 (COVID); and 2019, 4,957.
"Much of education has changed since COVID, and you have a number of colleges, including ours, that have more online opportunities. But some of our students who take the online courses come and take face-to-face as well. ... In order to get the numbers we've been able to generate, we do have to make sure that we have the technology we need," Williams said.
He added that they need space for welding, the truck driving program, oilfield automation and nursing as examples.
Liberal arts students don't always have to be on campus.
Asked if OC was turning away students in the technical programs, Williams said they are.
He said there are programs where they can only take a limited number of students because of space.
"With more space, we can add more faculty, and we can bring more people on. Nursing, you may have 600 to 700 students who are interested in nursing, and you're only able to bring in 150 or so, 200 in any given year, depending on the type of program. So, yes, we've been able to grow that with a new facility, and we want to do that with other programs as well," Williams said.
Freshman Daniel Atuegwu asked about adding soccer to OC sports and making it easier for students to get internships with local industry.
Williams said they should consider soccer as it is played in the high schools, but they need more facilities for that.
Williams and Vice President for Instruction Tramaine Anderson-Silvas acknowledged that the process of getting an internship could be made easier and asked for Atuegwu's information to talk to him more about it.
Atuegwu said the forum was great because it is a chance for students to express their ideas and questions and meet the OC president.
Williams said he has Pizza with the President at least once a semester.
Williams said he was proud to be with the students Thursday.
"They give me energy. They keep me excited about the work. It reminds me of what we do and why we do it. It's about them; it's about the students, and it's about giving people hope and helping them with their careers and helping them with their opportunities that will come forward later.
"I get excited because of the professionals who choose to work with students and who choose to make that investment. ... It's good for our community. It's good for our futures. It's wonderful for Odessa College," Williams said.
He added that the bond is very important to OC.
Williams said OC tried a bond in November 2024, but it did not pass.
"We took that to the voters in November, and our voters spoke to us. We were really close. We had a lot of people who supported it, and we had some people who had some concerns about it.
"What we did, we've gone in and we tweaked it. We've reduced the cost by about $30 million, but everything we asked for we needed, but we still were able to trim and because we want something that our community can be proud of, we want them to realize that an investment in Odessa College is a sound investment."
With the downtown facility, he said it would include business incubation space.
"Not only is it a place for our business professions to teach people, but it's also a place for Odessa to welcome people to come in and start new businesses. Or if you're in town for a short period of time, for a week or two days, and you need a temporary office, we'll have temporary space for you to utilize during those moments as well," Williams said. "It's a wonderful opportunity, we think, to help grow entrepreneurs and give people a chance to start businesses that may not have all the resources they need to get them started."
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Generation-skipping trusts minimize estate tax exposure across multiple generations. Qualified Personal Residence Trusts (QPRTs) and Grantor Retained Annuity Trusts (GRATs) are useful for freezing asset values. Family Limited Partnerships (FLPs) and valuation discounts further enhance tax efficiency. Coordinating these strategies with lifetime gifts and charitable giving can significantly reduce long-term tax burdens. Q: In what ways should wealth managers prepare clients for potential ripple effects from trade restrictions between major economies? Watson: Wealth managers should prepare clients for potential ripple effects from trade restrictions by helping them assess and adjust their portfolios to mitigate risk. First, they should review global diversification to ensure clients are not overly exposed to any single economy, industry or region, especially those directly impacted by trade restrictions and geopolitical crises. This may involve shifting exposure from vulnerable sectors or countries to more resilient ones. They should also consider incorporating alternative assets that may offer protection in times of geopolitical instability, such as commodities or real assets. Additionally, wealth managers can guide clients on cash flow management and ensure liquidity needs are met, as trade restrictions could lead to economic slowdowns or disruptions in supply chains. Lastly, they should help clients stay informed and proactive, adjusting investment strategies in response to evolving trade dynamics and market conditions. Q: What unique considerations should business owners factor into their estate and succession plans? Pujol: Succession isn't a single event, it's a system that needs to be built, maintained and regularly tested. Business owners and family heads should structure continuity plans with updated valuations, clearly defined buy-sell mechanisms, and governance that depends less on future intentions or personalities and more on thoughtful planning. Uncertainty is one of the biggest threats to enterprise value. If business plans aren't baked into legal documents, the business is exposed to potential family disputes, tax inefficiencies and legal ambiguity. Transfers are also easier when numbers have been agreed to in advance. Plan as if you'll leave tomorrow and revisit that plan at least once a year. More families are treating succession planning like an annual checkup. During year-end valuation work, they run liquidation or 'liquidity fire-drill' scenarios to spot issues and test their transition plans. Some are also using structures to manage control and distributions effectively across family members more dynamically. Like outdated software, if a succession plan isn't reviewed and updated regularly, it's more likely to break when you need it most. Driskell: Business owners face unique risks and opportunities in estate planning. Key considerations include ensuring continuity of control, managing valuation and liquidity issues, and minimizing transfer tax liability. Proper use of buy-sell agreements, voting and non-voting share structures, and family-limited partnerships helps preserve operations while transferring economic value. Owners should explore gifting or selling interests to irrevocable trusts while leveraging valuation discounts. Planning for management succession is equally vital – aligning legal structure with leadership readiness. Owners often underestimate the need to separate governance from ownership. Coordinating business succession with estate liquidity planning (via insurance or redemption strategies) ensures family and business stability. Q: What defensive investment strategies are you recommending in light of the geopolitical instability and trade disputes? Ben-Naim: We consistently review our clients' allocations and advise on defensive strategies that can help ensure a buttoned-up portfolio. These strategies can range from diversifying asset classes to withstand major public market fluctuations, tax incentive investing and hedging. When considering geopolitical instability, our diversification philosophy is much the same. Now is an opportunity to really consider your geographic exposures and to look to consistently performing and emerging markets outside of the U.S. to realize opportunities. Of course, not all markets are winners and investing in a new region requires vetting, oftentimes with boots on the ground. But with careful research, you can make intelligent entry points. For example, despite the war, Israel proved to have a very strong public market in the past 18 months. Other markets, including India and Vietnam, are expected to perform with higher GDP growth compared to the U.S. and present an exciting outlook. Q: How do you see AI and automation impacting wealth management in the next 5-10 years? Pujol: AI is beginning to reshape wealth management, but it's not a replacement for advisors, it's another tool in the toolbox. Used well, it can accelerate diligence, surface outliers, stress test assumptions and generate models in seconds. But the truth is clients don't need more spreadsheets; they need clarity, context and judgment. All this comes from the human touch and experience. The advisors who will lead in the next decade are those who treat AI like an enhancement of their own skills, not like a replacement. At Objective, we use AI to flag inconsistencies, improve our communication and stress test our thinking. Then we bring in the human element to synthesize, challenge and advise. AI can compute outcomes, but it's useless without an experienced human interpreter. In the end, it's not about replacing insight, it's about removing noise so advisors can focus on the decisions that actually matter. AI enhances great advisors, but it will never make poor ones great. Watson: AI and automation are set to significantly impact wealth management in the next 5-10 years, likely accelerating the commoditization of basic advisory services. As technology advances, routine tasks such as portfolio rebalancing, tax optimization and risk assessment will become increasingly automated, making them more accessible and efficient at a lower cost. This will force traditional wealth advisors to rethink their value proposition, as many investment-related services will be handled by AI-driven platforms. To remain competitive, advisors will need to expand their offerings beyond just investments, focusing more on personalized financial planning, estate and tax strategies, and holistic wealth management. By integrating AI and automation into their practice, wealth managers can enhance their operational efficiency, but to truly differentiate themselves, they will need to provide high-touch, value-added services that help clients navigate complex financial decisions and life transitions. Q: How can advisors better engage younger generations in the wealth transfer conversation to avoid conflict and ensure legacy continuity? Pujol: If you want heirs to act like stewards instead of recipients, don't just write a will, start a conversation. The earlier families involve younger generations, the more likely wealth becomes a tool for continuity. We've seen families use business valuations, portfolio reviews and cash flow summaries to bring clarity to the 'why' behind the wealth and to tell the full story to their heirs. These tools take emotion out of the equation and turn complex financial decisions into documented, teachable moments. A detailed valuation can start the conversation a trust document cannot. One strategy that works well is forming a Family Investment Committee before the age of 18. You can even give heirs mock capital, or even small portfolios, and let them pitch investments quarterly, benchmarking their results against the real portfolio. Valuation reports and shared KPIs can turn wealth into something they understand and feel responsible for. The more context you provide while living, the fewer misunderstandings arise after you're gone. Driskell: Engaging younger generations early promotes transparency, reduces conflict and builds legacy alignment. Advisors should encourage family meetings to share the purpose behind planning decisions, including family values and long-term goals. Incorporating educational components – like basic financial literacy, investment principles and trust mechanics – empowers beneficiaries and fosters stewardship. Structuring trusts to provide phased access, beneficiary-directed investment input or co-trustee roles can build confidence and responsibility. Additionally, encouraging philanthropy and impact investing can bridge generational gaps. Above all, advisors must create space for open dialogue, ensuring younger family members feel heard and respected. This relational foundation is often more critical than the legal structures themselves. Watson: Advisors can better engage younger generations in the wealth transfer conversation by fostering early, inclusive and values-driven dialogue within families. Rather than treating wealth as a taboo or distant topic, advisors should encourage clients to involve heirs in strategic conversations about family values, financial goals and the purpose behind the wealth. This helps build trust, reduce the risk of conflict and ensures that the next generation feels informed and empowered rather than surprised or unprepared. Advisors can also offer educational resources and facilitate family meetings to bridge knowledge gaps and align expectations. By acting as neutral facilitators and emphasizing transparency, advisors play a key role in preserving both family harmony and the long-term continuity of the legacy. Q: For those concerned that their heirs might abuse their inheritance, what trust strategies are there? Driskell: Discretionary trusts with independent trustees remain a powerful tool to prevent misuse of inherited wealth. These trusts allow the trustee to make distributions based on the beneficiary's needs rather than mandatory rights. Incentive provisions can be included to reward education, employment or sobriety. Spendthrift clauses protect trust assets from creditors and poor financial decisions. Advisors may recommend staggered distributions or milestone triggers to gradually release funds. For families with ongoing concerns, directed trusts or trust protectors can provide oversight and flexibility. Ultimately, thoughtful drafting and selecting a fiduciary who understands family dynamics are key to protecting both wealth and relationships. Q: As a trusted advisor, what advice can you share for longer-term portfolio asset allocation? Ben-Naim: Now more than ever, high-net-worth investors have access to more asset classes, opportunities and strategies. While this is exciting, it's important to understand the implications of your holdings and to allocate your portfolio in a way that will withstand external fluctuations. It can be nearly impossible to understand the implications of your full portfolio holdings and how they may fluctuate throughout a market cycle or in response to a macroeconomic, geopolitical or industry event. I strongly recommend working with an advisor with a fiduciary responsible to you and your best interests, as well as intimate working knowledge of your profile, family, businesses and interests in order to create the right plan. The right financial advisor will not only know and understand you and your allocations but will also prioritize consultancy and communication to ensure holistic success.
