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CAROL LIN, CNN ANCHOR: All right, the moment we have been waiting for. We are going to take you live to Waco, Texas, at Baylor University, where the president of the United States is wrapping up his economic summit. We're expecting him to speak momentarily. Let's listen in.
ROBERT SLOAN, PRESIDENT, BAYLOR UNIVERSITY: We also spoke today of the critical impact of technology on the economy. Baylor's commitment to scientific discovery and the transfer of it to economic growth is manifest in a host of areas. For example, nanotechnology, which has implications for areas as divergent at biotechnology and a new generation of information systems, is one of our current points of particular focus for new development here at the university.
Clearly the increase of productivity through technology is vital to help the economy, and Baylor is poised to help this region and the nation through cutting-edge discovery and application.
We also spent time today discussing the critical importance of ethics in business. We at Baylor have a strong history of education in the area of ethics in the professions, be it in business, law, or medicine.
Beyond the specific research, we conducted through several centers on the campus, students are challenged today to think about how their professional decisions will impact the broader notions of fairness, justice and accountability before humanity and God.
Perhaps the most importantly though, Mr. President, is our residence with the core convictions that you so often express. You have often said that the issues of economic prosperity go beyond the details of to policy and planning, but involve deeper matters, transcendent matters of character, conviction, confidence.
We believe our vocation here at Baylor is to create leaders, people of integrity, who are competitive, compassionate and courageous and to send them out to influence the world. Now is a time for bold planning, for trying to envision the future. That is true for the nation, for business, and is also true for Baylor University.
Our institution was very emboldened last year by some work we did in capturing aspirations in a document that we have called "Baylor 2012." In that document, if I may express, perhaps our central aspiration, within the course of a decade Baylor University tends to enter the top tier of American universities, while strengthening and deepening our distinctive faith-based mission. Again, it's an extraordinary honor to share with you our hopes, not only for our institution but our support as America moves toward economic excellence.
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