MALVERN, Pa., Feb. 15, 2011 /PRNewswire/ -- The stock market
can be a daunting experience for investors regardless of their
investment experience. To help young people get a head start on the
lessons of financial literacy, The Allstate Foundation is
partnering with EconomicsPennsylvania for the 4th Annual Allstate
Stock Market Challenge. The 10-week program – which utilizes
Economics PA's Stock Market Game – kicked off on February 14 in eight schools across the
Commonwealth, including:
- Northampton Area High School (Northampton)
- East Elementary School (Greenville)
- Stroudsburg High School (Stroudsburg)
- Stewart Middle School
(Norristown)
- Butler Senior High School (Butler)
- Phoenixville Middle School (Phoenixville)
- State College Area High School (State College)
- Council Rock High School North (Newtown)
The program will challenge nearly 200 elementary, middle and
high school students to compete with ten Allstate insurance agents,
financial specialists and employees in an online simulated stock
market game. Each team will be given a hypothetical $100,000 in bonds, mutual funds and stocks chosen
from the American, New York and
NASDAQ markets. Student teams and Allstate agents will manage their
portfolios by making trading decisions and entering their trades at
the Stock Market Game Worldwide site. Trades are processed every 15
minutes and students can view updated portfolios daily.
"Financial literacy matters more than ever," said
EconomicsPennsylvania Sr. Vice President Anita Kane. "This game teaches a valuable life
lesson to kids and adults alike – how to responsibly and actively
manage your money."
The Allstate agents, financial specialists and employees will be
on hand to mentor the student teams to help guide them through the
ABC's of the market. Rankings at the end of the program will be
based on a team's total portfolio equity. The rankings, which will
be calculated daily, will be viewed as a percentage either above or
below the S&P 500 Index, which is comprised of 500 companies in
leading industries. Competitors will monitor their progress and
execute transactions on the Stock Market Game website.
"This program is about pulling back the curtain on the mysteries
of investing," says Allstate spokesperson Chris Conner. "We're proud to have our agents,
financial specialists and employees actively involved in that
endeavor."
The 2011 Allstate Stock Market Challenge runs from February 14 through April 22. The winning
school's team will receive a special celebration courtesy of
Allstate and the partnering Allstate representative.
About The Allstate Foundation
Established in 1952, The Allstate Foundation is an independent,
charitable organization made possible by subsidiaries of The
Allstate Corporation (NYSE: ALL). Allstate and The Allstate
Foundation sponsor community initiatives to promote "safe and vital
communities"; "tolerance, inclusion, and diversity"; and "economic
empowerment." The Allstate Foundation believes in the financial
potential of every individual and in helping America's families
achieve their American dream. For additional information, visit
http://www.allstate.com/foundation.
About EconomicsPennsylvania
The mission of EconomicsPennsylvania is to promote and encourage
understanding of economic concepts through education.
EconomicsPennsylvania's purpose is to help students become
entrepreneurial, productive members of the workforce, responsible
voting citizens, prudent savers and investors, successful
participants in the global economy, knowledgeable consumers, and
lifelong decision makers equipped to make effective choices in an
ever changing environment.
The Allstate Corporation (NYSE: ALL) is the nation's largest
publicly held personal lines insurer. Widely known through the
"You're In Good Hands With Allstate®" slogan, Allstate is
reinventing protection and retirement to help nearly 16 million
households insure what they have today and better prepare for
tomorrow. Consumers access Allstate insurance products (auto, home,
life and retirement) and services through Allstate agencies,
independent agencies, and Allstate exclusive financial
representatives in the U.S. and Canada, as well as via www.allstate.com and
1-800 Allstate®.
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Contact:
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Allstate Foundation
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EconomicsPennsylvania
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Chris Conner
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Anita Kane
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Phone: 610.251.3094
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Phone: 215.204.8881
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Chris.conner@allstate.com
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akane@temple.edu
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SOURCE The Allstate Foundation