Fischer Black (1938-1995) and Myron Scholes (b. 1941), who in 1973 developed the Options Pricing Model that bears their names, had published a paper in 1971 that determined that a first class airline ticket should cost no more than 44 percent above the price of an economy ticket for it to be worth the price. They published an update in 1991 in which they said the percentage was still valid.
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Entrepreneurial Training Process II

Valley entrepreneurs will have the opportunity to learn business fundamentals and develop business navigation strategies at the Entrepreneurial Training Process II course hosted by the Central Valley Business Incubator starting Monday, Feb. 5.

The intensive, six-week ETP II course gives entrepreneurs hands-on, step-by-step guidance in developing a business plan to establish the infrastructure needed to successfully execute any business concept. Keys to the development and success of a new business will be covered, as well as industry analysis and the creation of mission and vision statements.

"I feel pretty much like I could walk out of here and run a successful small business," said a former student named Geoff.

CVBI's Director of Member Services Jarah Euston, herself a successful entrepreneur, will lead the class. Euston launched www.fresnofamous.com in 2004 and recently sold it to the McClatchy Company.

"This course provides all the resources necessary for entrepreneurs to begin and succeed in any business venture," said Euston. "The advice and guidance participants will receive from experts in the business field is extremely valuable."

Other presenters will include Dr. Tim Stearns, director of the Lyles Center for Innovation and Entrepreneurship at Fresno State, Dr. George Vozikis, Edward Reighard Chair of Management and director of the Institute for Family Business at Fresno State, Fresno State public relations professor Betsy Hays and certified public accountant Mike Goossen.

The ETP II course serves as the follow-up to CVBI's ETP I, where participants evaluate business feasibility and the likelihood of developing a successful business.

ETP II begins Monday, Feb. 5, with classes meeting every Monday and Thursday from 5:30 to 9:30 p.m. The cost is $250 per person.

Course registration is available by calling 559/292-9033 or going online at www.cvbi.org.

The Central Valley Business Incubator, Inc. is a non-profit organization that was created in 1996 in order to stimulate economic development through entrepreneurship and job creation. CVBI offers business development services and physical resources to ensure the success of local start-up companies. CVBI has worked with close to 3,000 entrepreneurs who have obtained more than $12.7 million in capital and created 1,900 direct new jobs for Central California.



Location: Central Valley Business Incubator offices, 2555 Clovis Ave., Clovis
Starts: 2007 Feb 5 - 5:30pm
Ends: 2007 Mar 22 - 9:30pm
Website: http://www.cvbi.org

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