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UNIBusiness: The Alumni Magazine of the College of Business Administration University of Northern Iowa, 2009-2010

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This Newsletter is brought to you for free and open access by the Newsletters/Magazines at UNI ScholarWorks. It has been accepted for inclusion in UNIBiz by an authorized administrator of UNI ScholarWorks. For more information, please contact [email protected]. The Alumni Magazine of the College of Business Administration University of Northern Iowa 2009-2010

American Aristocracy Diverse backgrounds connect with shared values and passion After the Deluge What do you really know about flood insurance? Fast Company An accountant? With the ‘most fun job’ in Iowa?

Advocate for Innovation America is poised for its next great phase

“A cutting edge program....One of the best.”

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The Alumni Magazine of the College of Business Administration University of Northern Iowa 2009-2010

“The Best Business Schools of the World” Table of Contents 4 Advocate for Innovation

Vice Chairman of U.S. Bancorp A Best Business School Joseph Otting (‘82) says economic conditions have America poised for its next great phase of innovation. 8 American Aristocracy

“A cutting edge program for Count Arco and Paul Herndon (‘86) the changing business world” come from diverse backgrounds, but they share values and passion that page 8 make American Asset Corporation thrive. UNIBusiness is published annually by the 12 After the Deluge University of Northern Iowa’s College of Business Administration for its alumni, friends, faculty, and staff. Comments, Randy Ramlo (‘83), president and suggestions, and letters to the editor are CEO of United Fire and Casualty welcome. Company, and UNIBusiness Address all correspondence to Associate Dean Leslie Wilson have a [email protected]. Editor, UNIBusiness conversation that could help you save College of Business Administration your biggest investment. University of Northern Iowa Cedar Falls, IA 50614-0123 15 Goodbye, Dear Friend Phone: 319-273-6240 and Colleague Fax: 319-273-6230 www.cba.uni.edu A tribute to LaVerne Andreessen, Editor and Writer: Denton Ketels Editorial Assistant: Lynnette Wagner ‘10 who passed away in April. Randy Ramlo Design: Rachel Letcher 16 Design Assistant: Jorunn Musil Fast Company

Jerry Jauron (‘90) is president and CFO of the state’s hottest sports-entertainment

venue, Iowa Speedway. James H. Slife (Accounting ‘73), 22 CEO, Pioneer Graphics, for his International Business and Culture company’s generous support. Students and faculty gain Global Skills in Dalian Free Trade Zone; MBA student Sana Tuncer recounts her Hong Kong experience. 28 Alumni News

page 22

1 When Executives Behave Badly, Business Schools Hear Calls for Reform. Some schools dread such calls. We view the current business ethics uproar as an opportunity to show how UNIBusiness is implementing a distinctive formula for strengthening business education at a challenging moment in history.

In a recent visit, Tim Essential Business Knowledge provide a foundation for Throndson(‘83) and I Traditional Work Values academic and professional recalled the talk he gave Contemporary Professional Skills accomplishment. on campus back in 2001 Contemporary professional when he called for a public skills allow them to READY dialogue on business build healthy careers on ethics. Soon thereafter our technical knowledge and distinguished Chair in Business Ethics, funded by homegrown values. No two of these elements will David W. Wilson (UNI, ‘70), sponsored a public do the job if the third is missing. forum. We were ahead of the curve in establishing The first two elements capitalize on our the academic credibility to help lead the debate on strengths. The third addresses a void. Our students teaching ethics in business schools. characteristically have a limited sense of the Evidence of that credibility runs deep. Former assertiveness and confidence needed to build and Iowa Congressman Jim Leach, giving a speech manage successful careers. We have introduced on the Wall Street collapse, told a global audience the Professional Readiness Program to develop the outcome would have been different had UNI our students’ adaptability, tolerance for ambiguity, Accounting graduates been minding the store critical thinking, communication skills and (opposite). Our alumni offer a similar message. professionalism — ingredients that complete our Notably, Kevin Steere (‘69) has come back to model and allow our students to leverage the other UNI often to tell our students: “You can build a two elements as strategic strengths. successful career by exercising the same traditional Our faculty “owns” the rigorous business values that many of you grew up with.” curriculum. We ask our students to “own” their Our graduates should bring those traditional traditional values. We hope you, our alumni and values of hard work, integrity and self-reliance to friends, will “own” the Professional Readiness the workplace. We expect our students to take Program. We need you to tell our students responsibility for those values before they graduate, why they must hit the ground running as a lesson learned in our demanding classrooms. professionals. We need you to lend your expertise While students often report declining expectations to our team effort. My sincere thanks to those of in their previous educational experience, we you (list on p. 19) who have already responded to aggressively exercise their traditional work values our invitation. during their time here. We expect them to embrace those values as one element of our three- part model of an exemplary business education. Essential business knowledge is a product of our faculty’s well earned reputation for teaching Farzad Moussavi, Dean excellence. Traditional work values reflect our College of Business Administration students’ distinctive Midwestern roots and Fall 2009

2 Former Iowa congressman Jim Leach told a Washington, D.C. symposium Leach Touts on financial reform last spring that Harvard Law School attorneys and UNIBusiness CPAs – with a balance that “favors the latter” – would UNI as ‘Top comprise an effective regulatory body. Leach presented his paper “The Lure of Leveraging” at the Symposium on Shaping Global Financial Reform, which was sponsored by The Bretton Accounting Woods Committee and the Boston University School of Law in April. He reviewed the current regulatory framework and proposed recommendations for the future. Leach’s remarks were reported on American Banker’s School’ BankThink web site. at Global Following is an excerpt from Leach’s presentation: “…the regulatory tragedy of the decade is the paucity of attention given to complementing legal expertise with right-side-of-brain talent – Financial mathematicians, economists, and CPAs. Financial regulation, after all, is principally about understanding numbers and their meaning. Reform In particular, Washington regulatory circles have a dearth of skepticism- trained CPAs to follow the money. Symposium As an Iowa chauvinist, I would note that there is a ratings game applied to various university departments, analogous to polls newspapers report on of the standings of various athletic teams, suggesting that one school or another has the top history or English or physics faculty. These assessments are generally quite subjective, but based on testing measurements, the University of Northern Iowa (UNI) is arguably the top school in America in accounting. No school’s graduates over the last 20 years have consistently scored higher on national CPA exams. Hence my view that the key to an effective regulatory body would be to have a balance between Harvard Law School graduates and UNI CPAs, preferably one which favors the latter. I simply can’t, for instance, imagine a UNI CPA could have walked into Bernie Madoff’s office and not demanded to know where the money was and how the numbers could be verified. I do not know how a UNI CPA would not have recognized that AIG did not have sufficient reserves to guarantee either the magnitude or the integrity of the credit default insurance it was selling. And I do not know how a UNI CPA could have reviewed many of the mortgage portfolios Wall Street firms hawked and concurred with the triple-A ratings applied.”

Leach is currently interim Director of the Institute of Politics at the John F. Kennedy School of Government at Harvard University, and the chairman of Common Cause. He is on leave from Princeton University, where he is the John L. Weinberg Visiting Professor of Public and International Affairs at the Woodrow Wilson School. Leach served in the U.S. House from 1976 to 2007. He chaired the Banking and Financial Services Committee, the Subcommittee on Asian and Pacific Affairs, and the Congressional-Executive Commission on China. He was a leading advocate of legislation reforming the financial services industry. He is perhaps best known as the principal author of the Gramm-Leach-Bliley law, which is considered one of the seminal pieces of banking legislation of the 20th century.

3 Joseph Otting: Advocate for American Innovation America’s entrepreneurial spirit is on the rise

How would you I really liked about the banking sector to define strategies and tactics to allow frame your educational and personal were that you had to be a salesperson, the organization to execute on their development? you had to understand how to market the deliverables to the shareholders. So, company, and you needed to have good you generally kind of stick your toe in Joseph Otting: I had an excellent family intellectual, mathematical and financial and if you like it, you have a chance that I grew up from in Maquoketa, Iowa. analysis skills. You got to use both sides to really do whatever you want to do, My dad was a businessperson who had whether it’s sales or finance or legal or many entrepreneurial interests. My mom whatever in this industry that has a very was an educator. My mother, sister and “We have an powerful impact. One of the beauties brother went to school at UNI, so it is that, because of the Community was kind of a family tradition. UNI is a enormous Reinvestment Act, banks are involved in warm, fun place, and it also demonstrates the community, and I’ve had a wonderful an uncommon interest in building a entrepreneurial opportunity to be involved in a number spectacular educational arena for people of non-profit organizations over my to excel. UNI is very important to me, spirit for innovation career. It has created great rewards for and it’s important that students in Iowa me personally in communities across and the Midwest understand what a in America, and the United States, and we’ve had some tremendous resource for success they when you really legacy impact. have at their fingertips. Former Iowa How would you think about what congressman Jim Leach recently touted characterize your own career UNI graduates for their competence and development? drives the world, it’s integrity. Dean Moussavi likes to point Joseph Otting: I don’t think anybody innovation.” out that no prominent UNIBusiness starts out saying ‘I want to be a banker.’ graduates have been implicated in Fortunately I joined a bank in California of your brain. Once you have some scandals – not insignificant given – Bank of America – and joined its success and get a chance to be a manager, the number of alumni in positions of management training program. As you you have to develop your management ownership and corporate management. get into the industry, you start to find skills and leadership characteristics. As Do you think Midwestern values play a things that fit your skill set. The things you continue to evolve it’s important role in this reputation?

4 Joseph M. Otting (Management ‘82) is a vice chairman, member of the managing committee of U.S. Bancorp, and manager of its Commercial Banking Group. He is on U.S. Bank’s main subsidiary bank’s Board of Directors and U.S. Bancorp’s Foundation Board. that’s a strength because people with that He joined U.S. Bank in December 2001 as president of U.S. Bank of skill set generally are able to be more Oregon. Prior to that, Otting was with Union Bank of California cohesive in a leadership team. A group for 16 years where he was executive vice president and group head of can accomplish great tasks together if you Commercial Banking. He has served on multiple boards, including the don’t have a bunch of independent people Minnesota Chamber of Commerce and many community organizations, insisting on doing it their way. including the Executive Committee of the Los Angeles Economic How are globally, Development Corporation. In 2005, he participated in the UNI interconnected economies affecting the College of Business Administration’s senior graduation celebration way students prepare themselves for as an Alumnus in Residence. business? Joseph and his wife, Bonnie, reside in Santa Monica, Joseph Otting: I think it has a lot to do California. with what the person wants to do. If they’re going to be involved in industries that have international operations, then it’s important for them to have a broader perspective on the world and to embrace that. It’s important to challenge the way Joseph Otting: I do think it has a lot to the organization, or the people in the that your company does business, because do with the type of student that UNI organization, in harm’s way, because you down the block or in the next city there attracts, and what I mean by that is are building off of a long-term platform. is always somebody that perhaps will people come from families that placed A recruiter recently do things better than you. You have to strong reliance upon values, morals and intimated to us that it likes to hire continue to lay out the planks of learning education. As you release those doves into Midwesterners because they ‘work hard so that people can learn from each other the world, so to speak, and people are put and don’t ask questions.’ Can the latter about ways to produce better, consume into the crossroads of decisions that they half of that equation represent an obstacle less and run their organizations better. have to make, having been in that kind to advancement? That usually comes from having a wider of environment creates a conscience to reach, not just internationally, but do the right thing. The desire to be flashy domestically. and to take enormous amounts of risk “We’ve invested in generally is just not in the DNA of people What does the future of from that environment. training and we’ve banking look like for both businesses and I think all of that leads to people who individual customers? view things over a long period of time, invested in leadership.” Joseph Otting: I think there is taking into account a wider bandwidth of Joseph Otting: I don’t know if I would tremendous opportunity both for information when they make decisions. say they don’t ask questions. I would say financial services firms and the For example, it would be easy for people that being from a respectful environment consumers of their products because to overcompensate during very good of leaders and elders, maybe we tend people are becoming better educated and times for the risk return. Our bank has to show a certain deference. The book they have more choices. Those two factors proven that we didn’t take that approach. “Outliers” tells of pilots who were so alone always lead to a better environment. We were a much more methodical, deferential to chain of command that, When you have ten competitors offering relationship-oriented bank because we even if they were flying into a mountain, products and services versus just three, want to run the bank for the next 20 the co-pilot would not be aggressive generally it results in better pricing, years. I think that educational thought with the pilot. Maybe the reliance upon a more competitive environment and process is a long journey. If you’re there tutelage and leadership that causes more leading edge innovation. I personally for that long journey, then you’re not people to follow out of that environment think it opens up tremendous amounts going to take short term wins that place has some characteristics, but I also think of opportunity to improve the financial

5 services sector. breakthroughs in It also brings Joseph Otting drugs and medical multiple sources and UNI devices that have and channels of President Ben given us strong capital into the Allen (r) at an economies. And if I world to allow alumni reception knew exactly what people to open up hosted by Otting that next innovation new businesses, in Minneapolis. is I would be in to expand and get front of it. I think better domestically, our future is very and have an bright in America international reach and it will come to their businesses. from innovation. into 2010 you’ll start to see some real Should we be concerned Do you think stabilization into the economy. We’ll about the viability of U.S. currency? consumerism will be less credit driven? start to get back to where people are Joseph Otting: I don’t think so. We are consuming things again, because your Joseph Otting: I do. It’s funny…I met a still, without a doubt, the best credit car will eventually have to be replaced; young lady who moved to Los Angeles risk in the world today. We have an the washers and dryers and computers about a year ago from Southern Illinois. enormous entrepreneurial spirit for will ultimately have to be replaced She noticed I work for U.S. Bank and innovation in America, and when you said, “I have my checking account there, really think about what drives the world, but I want to get a credit card.” I kind of it’s innovation. I’m not saying there’s not “If you look at most jokingly said, “All you need is a mailbox,” innovation occurring in other countries meaning that over the last five to seven across the world, but true innovation over companies today, years you got several requests a year to the last hundred years has come right out what are they doing? just ‘sign here’ and get a new credit card. of the United States. If anything positive Her situation was enlightening for me comes out of a recession, it usually frees They’re laying off because here was somebody in her job up a lot of great entrepreneurial people to for a year, college educated, in a strong work in their garages and come up with people, they’re cutting profession, and yet trying to get a credit the next great technology idea or medical card was a bit of a challenge for her. I can products breakthrough. I think we’re back on training, relate to that because back when we got about to launch another innovation phase our first credit card, what a great thing in America, because as people perhaps they’re not hiring and that was! We had to apply. We had to lose their jobs at these large industrial have a good credit history. I think the companies, an opportunity they may not advancing the skill world is dialing back to that again. You’ll take if they were in the normal course have to have a good job, a good credit gets thrust upon them to go out and live set of people in their history, and show that you can manage their entrepreneurial dreams. Some of the organization.” the credit process to qualify, as opposed greatest successes of our era have come to just having a mailbox. through that environment. because they wear out. So you will start When you think about one of the to see consumption come back in 2010 ‘wiggier’ elements of where we went as We’re having this and that will be a positive. a society, people who probably shouldn’t conversation in June of 2009. What is Over a longer period of time it requires have been able to buy a home were able your view of the economy for the mid and innovation to get things going again. to buy one. Some of those stories worked long term? If you think about our lifetime it’s been out, but some of them didn’t. We always Joseph Otting: I think when you get technology, communication, and medical talk about the three-to-10 percent of the

6 Alumna Values U.S. Bank’s Traditional people who lost their homes to foreclosure. Well, there was another 90 percent of the Approach people who got into homes who probably Rochelle Dotzenrod (Real couldn’t have before. Now they’re building Estate, Finance ‘04), Assistant equity; now they’re becoming active Vice President, currently works people in the communities in which they in U.S. Bank’s Commercial Real operate because when you own a home in Estate Community Lending a community you usually take a stronger department, providing lending interest in the schools, the society and the for affordable multi-family non-profits. So we’ve built something in housing including construction/ these last five to seven years of aggressive permanent loans, tax credit credit, and I don’t think we can overlook equity financing and bond what that has also provided people. financing. For our company and me personally, Dotzenrod joined U.S. Bank our priorities have been over the short in 2007 as the Midwest Region Rochelle Dotzenrod run developing growth initiatives and Manager in the commercial managing the organization and the mortgage-backed securities human resource side of our organization. division upon watching the creation of a joint venture contract We have invested a lot of our energy and between U.S. Bank and Principle Global Investors, her previous resources around how we can continue employer. In 2009, she made the transition into Community Lending. to grow during this recession, but most In 2009, U.S. Bank’s CEO, Richard Davis, introduced a new importantly how to be best positioned concept to the bank called the Dynamic Dozen, which is a group of when the economy turns around – so that 12 twenty-something U.S. Bank employees who serve as a sounding we’re one of the banks that pole vault out board for new initiatives the bank is undertaking. Dotzenrod was of the recession. A lot of it has to do with selected to be part of this team. the people who are part of your company Dotzenrod credits U.S. Bank’s traditionalism for its continued high – that leaders are leading, managers are credit ratings and high performance compared to peers. “U.S. Bank managing, and people feel like they have is in a great position to originate new loans. We have been productive the skills or the environment to develop because we are able to correctly identify risks and mitigate them. those skills over a long period of time. If you can’t explain why you are taking the risk you are taking, you If you look at most companies today, shouldn’t do the deal. To this, we ask questions and do not make what are they doing? They’re laying off unnecessary assumptions.” people, they’re cutting back on training, Rochelle and her husband, Jacob Christensen, reside in they’re not hiring and advancing the skill Minneapolis, Minnesota. They are expecting their first child set of people in their organization. We’ve in December. really taken a contrarian viewpoint along those lines. We’ve invested in training, and we’ve invested in leadership. We spend a lot of time talking about new niches, new industries to pursue, new business segments where we can take advantage and existing parts of our business where we have a real growth opportunity. So we’ve actually taken a much different perspective than a lot of our competitors, in that this is just an incredible opportunity to grow our organization. American Aristocracy Experience teaches value of social skills and cultural knowledge

When Paul Herndon (Accounting clear advantage out of college was that ‘86) was a high school student in Forest he knew his stuff, thanks to UNIBusiness City, Iowa, he was not a big fan of professors like ‘Doc’ Halverson, who mathematics. In fact, he says he did advised Herndon as the sophomore everything possible to avoid it. He wasn’t treasurer of Delta Upsilon in addition to sure what he wanted to pursue in life, being an influence in the classroom. except that it would be business related. After graduation, Herndon’s first job at He had an interest in accounting, helped Ernst & Whinney resulted in commercial along by rumors real estate work that accountants in California, did rather well, an assignment and he was aware he attributes that people spoke to ‘dumb luck’. highly of UNI’s Herndon enjoyed program. it and had the Herndon had good sense to say no idea that so. “Basically, he was headed I said ‘hey, is for a high- there any more powered career commercial real in commercial estate work?’ real estate, let Fortunately they alone destined to had a lot more, become president and because I of a company asked they gave with an operating it to me,” he portfolio of $800 recalls. million. Herndon Absolutely he Paul Herndon (l) and Riprand Count Arco, continued in did not expect founder/chairman, American Asset Corporation commercial real to be conducting estate, changed business in the company of European companies and moved to Minneapolis. aristocrats in 1,000-year-old Bavarian In 1990 he found himself working with castles. Herndon joked, “I never even a client who happened to be a bona expected to be in North Carolina.” fide member of European aristocracy – Herndon’s career path may have been Riprand Count of Arco-Zinneberg. unpredictable, but then a lot of successful “I wouldn’t say I was intimidated,” people can claim that distinction. What’s Herndon said, “but the first time I met important is that he capitalized on the Count I remember giving him a opportunity when it presented itself. His tremendous amount of respect. I minded

8 Czech artist David Cerny’s Metalmorphosis was unveiled in September 2007 at a ceremony celebrating the grand opening of American Asset Corporation’s Whitehall Corporate Center in Charlotte. The sculpture, in the shape of a human head, stands 25 feet tall and was fabricated from approximately 14 tons of stainless steel. “It’s the Count’s personal interest to do something fun,” Herndon said. “He likes our projects to have an identity. What we have hopefully done is create an environment that is a little more fun and interesting. When someone flies here looking for space, and five weeks later they are thinking about the five parks they visited, we hope they’ll remember our park. And it has worked. People enjoy it. It has created an environment that’s more memorable and fun, not just for our office park but for Charlotte.” See the sculpture at www.metalmorphosis.tv/

my Ps and Qs and just tried not to be The company values the educational to constantly push themselves to learn overbearing. But mostly I made sure component of international business more about the world. his property had tenants, and that they and frequently creates opportunities “I still kick myself today that I didn’t were paying their rent. for European student interns in study a foreign language at UNI and “Over time, he started to engage me America. Count Arco, who lives in his that I didn’t take advantage of that a little more. We talked a lot, and for Connecticut home much of the time, opportunity when it was right in front some reason he and I hit it off. One day has mastered the cultural shift required of me.” Herndon said. “If I could do he asked if I would consider leaving the to do business on both continents. it over, I would also have looked at Midwest.” “When he’s in America, he’s an spending a semester abroad, or even in a In 1994, Herndon and his wife, Kari different part of the United States. (an ‘86 UNI alumna in Art), moved “As far as the core concepts of to Charlotte, North Carolina, to work “When he’s in America, business, a good student can obtain for Count Arco’s company. In 1997, he’s an American. When those skills, but a lot of people don’t Herndon took over as president of look at social skills as something you American Asset Corporation, which he’s in Germany, he’s should build and grow. Social skills has developed projects valued at over by far have become one of the most $1 billion and has an additional $1 the Count. There are important parts of my job, given that I billion in projects under development, formalities and a structure am constantly in different social settings including master-planned, retail, office with a wide array of people.” and light industrial properties in the that still exist there that It’s especially important in real Charlotte, Raleigh and Charleston estate, Herndon said, to communicate markets. he knows won’t work effectively with a broad range of The company’s business model has here in America. We don’t clients from mom-and-pop tenants to afforded it relative comfort during the politicians to executives at Wal-Mart. recent economic turmoil. “We’re all operate that way; we “I never thought about that in affected to some degree, because we school,” Herndon said. “I don’t want all make pasta with water. The benefit are much more open here to be facetious, but social ability is for us is that our primary business is about more than having fun with your to own and operate property, so we’re professionally and socially.” friends and drinking beer. It’s about not as dependent upon development. becoming a more ‘worldly’ person. It’s We’re a property owner first. We enjoy American,” Herndon said. “When he’s important to learn what’s going on developing our own accounts and in Germany, he’s the Count. There are beyond the borders of your community building from scratch,” Herndon said. formalities and a structure that still or your country, and, more importantly, American Asset Corporation also exist there that he knows won’t work why those things are happening. I’ve enjoys an advantage other companies here in America. We don’t operate learned more about European history can only dream of, which is the ability that way; we are much more open here than I ever learned in school because to entertain business associates amid professionally and socially.” now I find it more interesting. You have the magnificence of castles that have Herndon’s advice to students aiming to push yourself to grow more in that been in the Count’s family for centuries. at a professional career of any kind is direction.”

10 This Moment Brought to You by the Dean’s Fund for Excellence

UNIBusiness students and faculty in China for the Global Skills class are met upon arrival at the Dalian Train Station by faculty and student ambassadors from Dalian Nationalities University.

Today’s highly competitive global market requires preparation beyond a solid classroom education. UNIBusiness offers opportunities on campus and around the world for our students to build their professional edge.

Faculty goes the extra mile to create and deliver extracurricular opportunities. Students make extraordinary commitments to take advantage of these opportunities. The Dean’s Fund for TExcellence allows us to meet our obligation to support their remarkable efforts.

TheDean’s Fund ForExcellence

To contribute, contact Derek Thoms at 1-800-782-9522, 319-273-4444, [email protected], or visit www.cba.uni.edu/deansfund. After the Deluge 2008 floods teach Iowans about insurance, disaster preparedness

Waterloo, Iowa’s Sans Souci neighborhood was where UNIBusiness Associate Dean Leslie Wilson and her family resided before the 2008 flood.

When high water devastated parts of eastern United Fire Group is headquartered in downtown Iowa in 2008, thousands of business and home Cedar Rapids, which was submerged by the Cedar owners learned about flood insurance coverage River’s 31.12 ft. crest that overwhelmed the the hard way. UNIBusiness Associate Dean Leslie city’s 500-year flood plain. According to a Cedar Wilson, whose family home in Waterloo was among Rapids Gazette report nine months after the flood, the losses, discussed lessons learned by consumers 5,390 homes and 700 businesses in the city – and by the industry – with Randy Ramlo were damaged or destroyed. City officials say that (Management ‘83), president and chief executive full recovery will take a decade or more, with city officer of United Fire Group in Cedar Rapids. government in need of $3 billion for renewal.

LW : From personal experience I know have been some frustrations. The predominant complaint I heard there is considerable concern over how We purchased flood coverage from regarding NFIP not providing enough poorly flood insurance policies actually a private carrier and were actually very help was simply a result of homeowners work in helping a homeowner recover. pleased with the way our claim was purchasing inadequate limits. Most As a business person – and an insurance handled. We did not buy coverage mortgage companies only require company – what was your experience in from NFIP due to the $500,000 limit flood coverage up to the amount of the dealing with the system? on building coverage. Due to our size, outstanding debt. Many buyers bought RR we wanted to self insure smaller flood for the minimum requirement, so once : Maybe because I am in the losses and buy insurance only for large they suffered a loss the NFIP coverage insurance industry I am more flood exposures. The NFIP is not really was only enough to satisfy the lending understanding of some of the inherent designed for that strategy. institution. The homeowner got little or frustrations regarding the National The frustrations I heard regarding nothing. Many homeowners did not buy Flood Insurance Program, or NFIP. the NFIP fit into a couple categories. coverage for contents and thus had no The NFIP was designed to provide basic Most may not necessarily be the fault of coverage for their lost possessions. building and contents coverage, and if the program itself. As I mentioned, for NFIP coverage was designed as a measured by that standard it has actually larger businesses the $500,000 limit was ‘bare bones’ protection for the main done its job pretty well. That said, there inadequate. items subject to loss – the home and

12 contents. Homeowners’ policies provide the limited coverage offerings and very quickly. A paperless environment is valued additional coverages not found in paperwork may be necessary evils. key in being able to operate our company the NFIP policy. from remote locations. LW Another complaint concerned flood : I’m sure that this disaster tested your Our weaknesses were mostly small coverage that was required versus business’ disaster preparedness. What did items. We did not have enough printing needed. The flood of 2008 not only hit you find to be your weaknesses and your capacity (we were not as paperless as we the 100-year flood plain but the 500- strengths? thought). We needed to install additional year flood plain. Many people who RR bandwidth for some of our internet needs. : I give a one hour talk on this subject experienced flooding were not required We duplicated all our key servers at our with 100 slides, so it is a tough question to buy coverage. Many assumed the disaster site, but not some of the lesser to summarize. We handled the big ticket 1-in-500-zone was equivalent to “flood applications, which became problematic free.” Though the 1-in-500-zone carries in trying to convey a “business as usual” a much lower probability, floods are still message to our agency force. We also possible. Randy Ramlo had to set up a scanning operation from scratch. With a paperless environment, LW : How would you change the federal without the ability to scan mail program based on your experiences? everything grinds to a halt. All in all we RR did very well. : The NFIP runs a very significant deficit. If I were to recommend a LW : What recommendations would you change, it would be for the program to give to other businesses in regard to charge actuarially adequate rates. Rates being prepared for a disaster? in traditionally flood prone areas are RR especially inadequate. I’m sure most : Involve a wide array of people in people don’t want to hear that, but the your disaster planning because no risk fact is that a private carrier could never manager or ERM officer can think operate the program at current rate items very well. All our data was saved. of every possible risk. Know your levels, which are ultimately subsidized by We switched over to our remote disaster tolerance for risk, whether it is stated as the taxpayer. Thus, I do not see private site flawlessly, we had a temporary office a percentage of sales, net worth or some carriers ever getting involved in flood set up in six days for over 200 employees, other measure, but know what the firm is coverage, especially for the homeowner’s and the 200 employees we expected to comfortable retaining and then transfer market. As long as the program is federal, work from home were up and running or mitigate the rest. Know people and

Flood waters engulfed downtown Cedar Rapids along Interstate 380. United Fire Group’s headquarters is the light colored building just left of center.

13 RR agencies in your area that you need to : Again, the biggest mistakes are not contact in an emergency. Finally, know carrying flood coverage because you do Randy Ramlo how your key vendors will handle you in not live in a zone where it is required, or a disaster. We found some of our vendors only carrying a limit that satisfies your were very responsive; others were not. mortgage carrier. I would recommend When disaster strikes, you can’t accept that all home owners ask their agent or a response from a key vendor that says, carrier for a building valuation estimate “That will be 30 days.” and purchase a flood policy to cover that entire amount. I also recommend buying LW : How much emphasis does your coverage on all contents. I am sounding company place in the preparation side like an insurance guy, but contrary to for your customers beyond having them what many believe, flood insurance is purchase an insurance policy? Should not overly expensive. Floods are rare customers expect this kind of help from and spending good money to protect their insurance company? against a low frequency event is difficult, RR but floods can be devastating. If you : We are 90 percent commercial lines, can’t afford to lose what is most people’s so we emphasize loss control as one of biggest investment, you should buy flood our major services. Many of our insureds coverage. can expect periodic visits from our loss Randy Ramlo provides control staff. We are not there to tell LW : Was your home affected by the leadership for 690 them how to run their business, but we flood? Were you prepared, and were there employees of United Fire are there to help them run it safely. We unforeseen strengths or weaknesses in Group, which is in the are starting to do some of this in our your own coverage? business of property and homeowner’s products for larger homes, RR casualty and life insurance. but a commercial insured should expect : I lived in a low area of Cedar Rapids The company reported 2008 at least some help with safety from their until about two years ago. We got two revenues of $503 million. insurance carrier. The disaster of 2008 feet of water in our basement as a result of United Fire Group writes reinforced our belief that pre-event a huge rain. We decided we never wanted insurance in 43 states, and planning is of utmost importance. to live in an area with possible water commercial lines comprise problems so we moved to a hill. Now I LW 92 percent of the company’s : What are the biggest mistakes that get a lot of wind, but no more chance of business. you see homeowners making when they water. That is risk avoidance, and one of After joining the business consider a flood insurance policy? the few good decisions I have made. as an underwriter in 1984, Ramlo became commercial underwriting manager in 1996, was named vice president of fidelity and surety in 2001, and was appointed executive vice president in 2004 before being named chief operating officer two years later. He became president and CEO in May 2007. Ramlo earned his B.A. degree from the University of Northern Iowa in 1983, and returned to campus to participate in the College of Business Administration’s Downtown Cedar Rapids, 2nd Street senior graduation celebration looking south in 2009.

14 Goodbye, Dear Friend and Colleague

The University’s College of Business Administration lost a dear friend and valued colleague in April with the passing of LaVerne Andreessen.

“It would be impossible to know LaVerne and not miss him,” Dean Farzad Moussavi wrote in an e-mail to the College. “His strong personality, his sense of humor, his passion for his students and profession, his stories....LaVerne seemed to have a good one for every former student. And every former student has a story to tell about him. The stories all reflect the distinctive brand of tough love that only LaVerne could exercise.”

LaVerne was a UNI alumus and returned to his alma mater in 1966 to teach accounting after several years of professional experience in the field. He received the Outstanding Teaching Award in 2003 and the Halverson Professorship in 2004. “These designations were only small tokens of our appreciation for all he did for us and our students,” Dean Moussavi said. “LaVerne helped shape our accounting program’s culture of achievement and contributed to its tradition of excellence for decades.”

In 2004, LaVerne offered this piece of advice for new professors: “Talk to students. You need to like kids. You have to have enthusiasm for your subject matter and be prepared for class. You screw up in class, you better admit it. Be human.”

At the end of what would be his final class, LaVerne told his students, “It’s time to go home. My wife is cooking me my favorite dish.”

Due to an overwhelming number of requests by alumni, colleagues, students, family and friends, a memorial scholarship in LaVerne’s name has already been established.

Our condolences to all who knew and loved him. He will not be forgotten.

LaVerne Andreessen 1938 - 2009

Life Is Like A Mountain Railroad (as sung at LaVerne’s service) Life is like a mountain railroad, with an engineer that’s brave We must make the run successful, from the cradle to the grave Watch the curves, the hills, the tunnels; never falter, never quail Keep your hand upon the throttle, and your eye upon the rail.

16 1319 Iowa Speedway president has green light to make decisions When NASCAR legend Rusty pitchman persona fool you. In the time have only 24 full time people. We Wallace was first approached about it takes to gas and go he morphs into don’t have time in our industry to putting his reputation behind a an astute businessman who knows the make a six-week analysis of anything. racing facility in the cornfields south financial ramifications of every decision If you don’t get on the front end, you’re of Newton, his initial response was made at Iowa Speedway. He has to. He going to be left behind. something like, “Why the heck would has a green light for deciding how to “FiveFive yearsyears fromfrom now,now, II thinkthink wewe FastFastI want to put a speedway in Iowa?” make theCompanyCompany organization move fast and will have enough data, enough history, Uponpon furtherfurther investigationinvestigation andand turn on a dime. and enough long-term relationships to long before the earth movers arrived, where we can expect repeatable results. Wallace became Iowa Speedway’s Right now, every day is different. most enthusiastic ambassador. If he “So often, CFOs get Right now we have to capture the buzz still harbored a random doubt, the pigeonholed and all and convert its enthusiasm for each sight of 56,000 fans going wild in and every race weekend. Fortunately, front of a national ESPN audience they do is report results we have the most powerful sports for a NASCAR Nationwide race this entertainment brands in the world to summer blew it away for good. and let sales and work with,” Jauron said. Thee visionariesvisionaries whowho soughtsought andand August’sugust’s racerace putput IowaIowa SpeedwaySpeedway secured Rusty’s support made another marketing execs run on sports-entertainment high ground. inspired move when they tagged their Staying there is the challenge, but CFO to become president and CFO of the company. I say Jauron says that even in a bad economy Iowa Speedway in January of 2008. On total value will attract customers race days he’s the most enthusiastic guy that’s backwards.” who are scrutinizing entertainment in the place—on the track thanking “II wouldn’twouldn’t wantwant thethe rolerole ifif II didn’tdidn’t expenditures. Jauron and his staff people, on the PA thanking fans, in have that authority,” Jauron said. “The established price points for 2009’s the parking lot thanking fans, and in Manatt family trusts me to make weekend-long events that included the grandstand shaking hands with decisions and, let’s face it, if it wasn’t races and national concert acts in a future season ticket holders. for them this would still be a cornfield. fair-type, tailgating atmosphere. It A self-describedself-described “sales-marketing-“sales-marketing- If you’re always looking over your worked. “In 2008, we sold 300 season operations person trapped in a CPA’s shoulder or have to get a majority vote tickets in the bottom five rows,” he body,” Jerry Jauron (Accounting ‘90) for a decision, then you’re never going said. “This year, at $99, we sold 3,000 is clearly having more fun than an to be on the cutting edge. I give a lot in two days.” accountant should be allowed to have. of authority and responsibility to my Iowaowa SpeedwaySpeedway isis providingproviding aa “There isn’t a CPA in the world that vice presidents and they give it to the lift to Newton, even if much of it has as cool a job as I do,” he said. department heads, but at the end of is psychological. No one, including Don’ton’t letlet Jauron’sJauron’s gregarious,gregarious, day decisions have to be made. We Jauron, has any delusions about

16 making up for the pain of losing 3,000 going to pass it and the guy next to CFOs into the president and CEO’s jobs with the demise of Maytag. Jauron you probably won’t.’ He, along with roles as the economy has tightened and says the city has embraced the track Dr. Halvorson, Dr. Davis, Professor as markets have constricted,” Jauron said. and is enjoying a significant economic Nicholas, Professor Abraham— In his previous role as CFO at Iowa impact, which the speedway will they were the core. That staff was Speedway, Jauron said speaking up analyze when the season is over. “This incredible. Those gentlemen had real about areas of business that accountants city has pride, and if it weren’t for the world experience and knew how to typically avoid probably worked in his city of Newton and its infrastructure, communicate with students.” favor. “At first people said, ‘hey, he’s this track wouldn’t be here.” Faculty with strong practical not from the industry,’ but I think it’s a Jauron is a native of Indianola, one of experience is a continuing tradition strength that I’m not from the industry, the first high schools in Iowa to have a at UNI, as is the graduation of and I’m not set in my ways. As long as two-year accounting program. “I was alumni who take a high level of you’re respectful in life, the willingness FastFast CompanyCompany always a math kid,” Jauron said. “When working knowledge into the field. Not to speak your mind and philosophy is I was a senior I remember asking Mr. surprisingly, Jauron has strong opinions definitely a strength. If you hold back,

Jauron jokes with Indy Car driver Danica Patrick before the start of the Iowa Corn 250 in June.

Markow, my accounting teacher, where about the value of chief financial that’s all the better your career is ever I should go. He said, ‘You go to the officers and their traditional roles. “So going to be. University of Northern Iowa, there’s no often, CFOs get pigeonholed and all “People who are going to be the better.’ The accounting program was they do is report results and let sales decision makers of the future have to tough, but it got me prepared mentally and marketing execs run the company. I take a career risk to make a difference. for the CPA exam. My class in 1990 say that’s backwards. There are days when that’s not very finished second in the nation with a 59 “I believe you need somebody that comfortable for me. But the days I get percent pass rate. has the skill set for understanding the up at 4:30 in the morning and go to the “God rest his soul, the professor past trends that can work with what race track excited far outnumber the I remember the most, Professor you project for the future, but they have days when I think, ‘What have I gotten Andreessen, told us to wear a UNI to be a vested decision maker in the myself into?’ shirt when we went in to take the exam, direction of the company. I think you’re “There’s not time to second guess, so and wear it with pride, because ‘you’re seeing a transition, globally, of more we better get going.”

17 Named Chairs, Professorships and Fellowships

A named faculty position honors both the generosity of a donor and the contributions of the professor who holds the position. The ultimate Professorship Supports beneficiary, however, is always the student. Examples abound: International Symposium

New Educational Opportunities The Jepson Professorship draws prominent international experts The proceeds from the donor gifts allow our faculty to develop new educational to campus. Allan P. Larsen, opportunities that set our graduates apart. For example, Dr. Mir Zaman, who holds senior international policy the Carl Schweser Professorship, has developed a cutting edge program in Financial advisor, Covington & Burling, Analysis. Students who participate in this program go on to pass the CFA Level I LLC, Washington, D.C., was Exam at twice the global average and gain a distinct edge in the market place. the speaker at this year’s Jepson Financial Support for our Students Symposium. He told an audience Many named positions generate direct financial support for our students. For example, of students, faculty and community undergraduate students whose research is selected for the Bilateral Research Exchange members, “Restoring trust is an know that the Lawrence Jepson Professorship will cover their travel to Moscow, where intergenerational responsibility they are to present their work to their Russian counterparts. of worldwide scope. The need for transparency, accountability and Retain and Attract the Best Faculty full disclosure may be a simple All named positions allow us to retain or attract the best faculty. For instance, conviction for people in the the David Wilson Chair in Business Ethics brought Dr. Donna Wood to UNI. Midwest, but in many parts of Donna’s presence here, in turn, drew attention to a faculty that is now internationally our country and the world it’s a recognized for its strength in business ethics and corporate responsibility. revolutionary [concept].” Each named faculty position has its own story, but they all elevate the quality of the education we deliver. PwC Partner/Alums Bring Newest Professorship The PwC Partner/Alums who supported Steve Anderson

the endowment are located across the (Washington, D.C.); Jeff Bjustrom USA and overseas. (Minneapolis); Mike Brandmeyer (Los With 100 percent participation, all The endowed PwC Professorship was Angeles); Jill Hemphill (NYC); Dave nine UNI Accounting alumni and formally established this Fall. It will Schroeder (Minn.); Pete Schlicksup current Partners at PwC joined together enable us to honor and retain our best (Tokyo); Tim Throndson (Raleigh, N.C.); to establish the PricewaterhouseCoopers professors in the highly competitive Ellen Valde (Minn.); and Ken Wise Endowed Professorship in Accounting. market for Accounting faculty. (Minn.).

Roster of UNIBusiness Named Chairs, Professors and Fellows

Dr. Martha Wartick, Gaylon Halverson Professor of Accounting Dr. Mark Bauman, McGladrey Professor of Accounting Dr. Lou Honary, Pioneer Hi-Bred International Professor of Innovation Mr. David Deeds, T. Wayne Davis Chair in Entrepreneurship (visiting) Dr. Ken Brown, Lawrence M. Jepson Professor of International Business Dr. Tim Lindquist, Accounting Alumni Fellow Dr. Haihao Jin, John Deere Supply Chain Management Fellow Dr. Mir Zaman, G. Carl Schweser Professor of Financial Analysis

all the individuals and organizations that have helped establish Dr. Martha Wartick these distinguished faculty positions.

18 Professional Readiness Program (PRP)

To leverage the traditional work values that students bring to UNI Reports From and the essential knowledge they gain while with us, they must acquire the confidence and professionalism that will prepare them the Executive to quickly, assertively stand up at the work place. The Professional Support Network Readiness Program (PRP) is designed to deliver contemporary professional skills to our students so when they graduate they will Statler Urges Students to be hit the ground running as professionals, just as they are able to Innovative contribute with technical preparation and hard work. Kent Statler (Management and Economics, Strong Support Network for PRP ‘87), Executive part of our Executive Support Network VP, Rockwell Collins Services, they tell our students what it takes shared his thoughts on innovative to be a successful professional in leadership as part of the PRP contemporary organizations. As part of speaker series to a standing-room our Corporate Support Network, they only crowd of students. “Innovation lend us their professional trainers, who in delivering value to customers rests come to campus and deliver hands- with people like you,” Statler told the on training on communication skills, group. “Examine everything you do Mitch Christensen professionalism, networking, critical and look for a better way.” thinking, tolerance for ambiguity, Our alumni and friends have career management, and a host of other Jim Storbeck Covers Skills enthusiastically embraced our skills that fall within our notion of for a Global Economy Professional Readiness Program. As Contemporary Professional Skills. Jim Storbeck (Management, ‘86), We are grateful to the alumni and friends who make up our Executive Support CEO, Heartstrings Enterprises/ Initial Outfitters, is well versed Network and the organizations and professional trainers who make up our in multi cultural interaction. He Corporate Support Network. The two lists follow: responded to our invitation to speak Executive Support Network Corporate Support Network/Trainers to this important element. “…the new global economy will Mitch Christensen Wells Fargo Aegon Derek Drahn and Jenn Thompson lead many graduates to rub shoulders Cain Hayes Nationwide The Buckle CompanyJenny Montgomery with people they never dreamed of Jeff Hassman Cedar Valley Partners C-Level Consulting Kathy and Lee Rainey meeting or calling a friend. With Ann Kegler C.H. Robinson Worldwide Fluor Corporation Jo-Ann Garbutt advancements in communications Gary Kroeger Mudd Advertising John Deere Amy Hudson and trade alliances I can only Dan Leese 585 Wine Partners Kristalis, Inc. Kris Pond-Burtis imagine the people from around the Joe Neumann Pioneer Hi-Bred NAI Iowa Realty Commercial world that UNIBusiness students will International Jeremy Tipton come into contact with over the Randy Ramlo United Fire and Casualty Pella Corporation multiple trainers next decade.” Kent Statler Rockwell Collins Rockwell Collins Jacy Haefke Join the Executive Support Kevin Steere Southwestern Company Grayson Jones Network or lend your organization’s Guy Carpenter & Company, retired Target Amanda Schneider training expertise to us as part of the Corporate Support Network. Jim Storbeck Heartstrings Enterprises United Fire & Casualty Company Contact Dean Farzad Moussavi Randy Stromley Wells Fargo Julie Schneekkloth [email protected]. Gary Walljasper Principal Wells Fargo Lori McCarvel The Worthington Partnership Financial Group Essential Business Knowledge Russ Wasendorf Sr. PFGBest Cynthia Goro Traditional Work Values Contemporary Professional Skills

Kevin Steere and Sara Schroeder for the foundational gift to get the PRP READY off the ground and individuals and organizations that keep it going.

19 Student Achievement

Through intense competition UNIBusiness students develop their savvy and marketability. Through entrepreneurial enterprise they are shaping not only their futures but ours. See new achievements every day at www.cba.uni.edu. UNI Beats ISU, Iowa, Drake for Krause Title equally among UNI, Drake, Iowa State University and the University of Iowa. The schools compete annually to deliver the highest investment return. Neil Mulholland, student director for the UNI Krause Challenge Group, said, “This experience gives us the chance to apply concepts we’ve learned, and we’ll continue to benefit from it for many years.” Dean Moussavi called the Krause Challenge the “perfect gift” because it provides meaningful experience, gives continuous benefits and asks effort from Dean Farzad Moussavi, Carl Schweser students in return. Financial Analysis Professor Mir Zaman, members of “We’re grateful to Carl Schweser the UNI Krause Challenge Group and Iowa businessman W.A. for establishing the professorship held Krause enjoy a light moment during the official check presentation. by Professor Zaman,” Dean Moussavi added. “A named professorship honors the In a tough financial environment Iowa businessman W.A. Krause at a May generosity of a donor who establishes it, UNIBusiness finance students won the luncheon on campus. and it ultimately benefits our students.” Krause Challenge investment competition The Krause Challenge began in 1998 The award will support the for 2008-2009. Twenty students from when Krause, founder and chairman UNIBusiness’ CFA review program that the Studies in Portfolio Management of Kum & Go convenience stores, boasts a pass rate more than double the class accepted the $10,000 award from provided a gift of $400,000 to be divided international average.

Mr. Bill Krause for establishing the Krause Challenge; Dr. Carl Schweser for establishing the Schweser Professorship; U.S.

Bank for contributing to the CFA Review program; and several alumni of the CFA Review program who give back to keep the program going.

MBA Student Wins Pappajohn Business Plan Competition Zach Hedrington, a graduate student “The biggest challenge in the from Cedar Falls, MBA, won one of three competition was going up against $5,000 first place awards in the Pappajohn brilliant students from all over the state New Venture Business Plan Competition of Iowa who have as much passion and in March. His business, 3Fueled L.L.C. determination behind their ideas as I do,” consults with companies that want to said Hedrington. produce energy and byproducts from The Pappajohn New Venture Business renewable energy and annually renewable Plan Competition is sponsored by John feedstocks. 3Fueled helps companies Pappajohn, Equity Dynamics, and the attain economic utilization of the major Pappajohn Centers at Drake University, Zach Hedrington and Matt Kinley, fractions of biomass as well as minor Iowa State University, North Iowa Area SVP Equity Dynamics (Pappajohn components that can be functionalized Community College, The University of Capital Resources) into high-value specialty products. Iowa and UNI.

20 Student Achievement

Cutting-Edge Program for the Changing World The University of Northern Iowa is lives up to it. Most professors are truly an outstanding business school, for the outstanding, student-oriented, helpful fourth consecutive year, according to The and resourceful.” One student said, Princeton Review. The New York-based “From the Dean to the newest professor, education-services company features the everyone at the University of Northern school in the 2010 edition of “The Best Iowa is available and willing to help you 301 Business Schools.” be successful.” Robert Franek, Princeton Review Farzad Mousavi, dean of UNI’s College senior vice president-publishing, said, of Business Administration, said, “It “We are pleased to recommend UNI is gratifying to receive recognition to readers of our book and users of our from The Princeton Review, which is site as one of the best institutions they their career plans, and their schools’ internationally respected for its could attend to earn an MBA. We chose academics, student body and campus independence. Princeton Review’s focus the 301 business schools in this book life. When our MBA students were is on MBA programs, but our MBA based on our opinion of their academic asked to describe their program, they program does not operate in isolation. programs and offerings. We also strongly reported “a cutting-edge program It relies on the same faculty, staff and consider the candid opinions of students for the changing world.” Their “profs academic philosophy as the rest of the who report on their experiences at their interesting rating” of 89 was one of the College. What Princeton Review finds schools.” highest among the 301 schools listed. so appealing – high quality of instruction The Princeton Review’s extensive According to our students, “UNI’s motto and strong student orientation – define survey asked students about themselves, is Students First, and the MBA program the entire College.”

National Recognition for UNI Mediators With short-notice and no formal organization, several UNIBusiness students advanced to the National Mediation Tournament last fall, where they secured the title of National Mediation Runner-Up Champions. Pernell Cezar (Finance, Marketing) and Dan Miller (Marketing, Finance, Real Estate) received recognition as all-American Mediators for their performance in the intercollegiate exercise. Motivated by their success, the UNIBusiness participants created the UNI Society of Dispute Resolution for UNI students interested in competitions that use negotiation, critical thinking, and analytical skills to mediate case problems. Created with mediation tournaments in mind, the organization may quickly in partnership with the national “Our goal for next year is to have a expand its agenda. UNI SDR president organization, which sponsors forums and forum on dispute resolution hosted at said the organization plans to work events at universities around the country. UNI,” Cezar added.

the contributors to the Dean’s Fund for Excellence for providing UNIBusiness students with access to opportunities.

21 International Business & Culture

Cultural competency is a business imperative in our 21st century global society. Opportunities for UNIBusiness students to build critical contemporary professional skills come in all shapes and sizes. From intensive short-term classes and competitions to semester study abroad and long-term internships, our students are seizing the chance to gain credibility in the global marketplace. Global Skills: More Than Meet the Eye Success in the global economy requires deep cultural understanding in a Global Smart Assessment designed to develop interpersonal skills that take cultural distinctions into account. “The Chinese are very traditional, interdependent and restrained,” project leader Christine Schrage said. “They take a long view of business relationships. We tend to be independent, casual and less risk averse. Both the American and Chinese students discovered through the simulations and assessments how culturally-based perceptions affect impressions of events and how those impressions can affect relationships.” Dean Farzad Moussavi, who visited the students during their trip, added, “Cultural differences are often abstract but they manifest themselves in tangible and concrete ways when it comes to business and trade between cultures. Our Chinese painting and paper cutting are among essential skills for successful interaction with students gain the type of competence the host culture. that eludes most experienced managers Five UNIBusiness students and three impressions via the China Diaries weblog today, many of whom come up the ranks faculty members engaged in an intensive (http://weblogs.uni.edu/chinadiaries/ without any preparation and must gain three-week adventure in the Dalian Free chinatour.html). intercultural competence the hard way.” Trade Zone this June, further developing Upon its arrival in China, the UNI It is particularly important for building the relationship between UNI and group spent two days in Beijing before lasting relationships with Asian partners. Dalian Nationalities University that proceeding to Dalian. There, the course’s David Takes (Accounting ‘81), CEO started in 2007. focus on trade was sharpened by visits of Doerfer Corporation, expressed the Ten Chinese students from DNU to a Canadian housing prefabricator, a point in a conversation presented in joined the UNI contingent for a course German candle company, an Australian the UNIBusiness magazine a year ago. in Global Skills that emphasized skills electronics firm and a New Zealand Knowing the language and being able to such as negotiation, selling, relationship clothing manufacturer. show signs of respect are essential with building and the ability to obtain UNI participants received Chinese any customer, Takes said, but those skills information in environments where names at the beginning of the Global “are probably a bigger deal in Asia than cultural differences influence 21st Skills course, and then spent part anywhere I’ve been.” century international business. of each day studying the basics of Mr. Michael and NIU Business students Samantha the Mandarin language. Intensive Smith, Nick Hanson, Stewart Sieleman, simulation studies revealed differences in Jacqueline Mrosko for providing students Joe Burke, and Alex Mutschler, along impressions of events by cultural groups international opportunities through the with UNI faculty members Gordon and the potential implications of those Michael and Jacqueline Mrosko Endowed Klein and David Deeds documented perceptions on business relationships. CBA International Travel Scholarship. their day-to-day experiences and their In addition, each student participated

22 International Business & Culture

so I got a chance to see what people were up to early in the morning. Starting An MBA Experience for Students at six o’clock they start doing tai chi, which is very common. You would see ‘Serious About Other Cultures’ people from 20 years old all the way up Intensive view of life, study and to 70 years old doing tai chi in these little parks along the harbor, with music work in Hong Kong going on at each park. It was an amazing Sana Tuncer was born in Izmir on the experience; you just have to be there to west coast of Turkey, on the Aegean Sea. understand.” There she spent half of her life before Tuncer said that missing the holidays moving to Harlan, Iowa, for high school. at home in order to take the class in Upon graduation she was recruited to Hong Kong might deter some students, UNI MBA Wartburg College. After she got her but the trade-off is a rich cultural student Sana undergraduate degree, Tuncer went to experience that has helped her in her Tuncer, work for Lockard Companies in Cedar work to relate more effectively to people overlooking the Falls as a residential real estate specialist of other cultures. Hong Kong while pursuing her MBA at UNI. “I would recommend the experience harbor. As a UNI MBA student, Sana further to anyone who is serious about other expanded her cultural experience cultures,” Tuncer said. “There is a lot of by joining her international MBA diversity in Hong Kong, but everything counterparts in a Cross-Functional really, really long hours. At the same is in English. I had no problems getting Operations course in Hong Kong last time, they do find a half hour or an hour around.” January. after work to go out and socialize, so Because the course was accelerated to “UNI’s Hong Kong MBA students they balance it real well. When you ask meet the needs of Hong Kong students, happened to be taking that course someone how they’re doing, you almost Tuncer made sure she got the most out of during our holiday break,” Tuncer said. always get a work-related answer.” her experience overseas. “I spent a week “Thanks to the Bill Kimball Fund, three During her two weeks in Hong Kong, backpacking in China, so it was a great of us in the MBA program were able to Tuncer resided with the parents of way to build in some personal travel time travel overseas to fulfill that particular Amy Yeung (‘04), a UNI MBA alumna with all of the MBA coursework.” requirement with UNI’s Hong Kong and president of the UNI Hong Kong Alumni Association. “Amy helped us Bill and Charlotte students.” Tuncer said, “I had always wanted to get situated to the area. Her parents Kimball for helping students through to experience Asian culture, and the also took care of us like their own kids,” the Bill Kimball Fund for International interaction with students was fantastic. Tuncer said. “I lived right by the harbor, Development. They were welcoming, warm and very accepting of us.” Tuncer said she was impressed with the Hong Kong MBA students, whose 24-7 schedules reflect the demands of Three generations of the life in a global metropolitan center. Yeung family helped “Hong Kong society is very goal driven. contribute to Tuncer’s The people are very ambitious. They rich cultural experience want to get somewhere, and part of the in Hong Kong. reason they want MBAs is to move up the ladder a lot faster in their careers,” Tuncer said. “Most of the students were full time employees, so they can go to school only at night. They’re very quick learners, and they’re always on the go. They work You’re invited! UNIBusiness welcomes UNI alumni visiting Hong Kong. Please come visit our UNI MBA classes and spend time with our Hong Kong students and alumni!

23 International Business & Culture

Letter from China International internships can be truly transformational experiences. We could ask you to take our word for it, but first-hand accounts such as the one below are much more fun.

to path I wanted lready knew the date and I a of my efore my graduation hina! While most as over a year b internship in C It w I call it an wonderful road less traveled.” with Kelsey, my Frost calls it, “the I was working take. obert R for interviews, ou” in were preparing “Thank y graduates to properly pronounce fellow ecember D o ten and how how to count t t learning Chinese eacher, Saying goodbye feels like yesterday: leaving Iowa it Chinese. eminisce about irport, and meeting look back and r or at an a As I either in an airplane off the over 24 hours that girl that got a friends, spending I try to remember to amilynd f my arrival in China. coworkers upon f and person. the lifelong riends I feel like a changed food, the culture, hard because I LOVE the airplane, ut b it’s n understatement. here to hina would be a before I came say that I love C felt so welcomed To I have never long friends the people. I have made life and most importantly, even pictures! landscape, smiles, and the long greeted with “Hello,” nyway!) I admire I a constantly I’ve got two a China.m eeded one! (Hey, respecting kidney if they n the crazy traffic, w offer my noodles, that ould I and customs–slurping with beautiful cultural norms, country filled t China is a beautiful standing raditions, to name a few. work ethic just elders, trong a s how long he hina. I asked him his life here in C people. who has made me that China a fellow expat years.” He warned once met pause, “Ten e. I after a thoughtful home to m and his reply feels like a second b l here he’s right! China has eeniving I have a feeling as a professional. you in, and person, but also a w of pulling me grow as a valued has ay not only helped learn from that experience has the chance to This has given me with, DDA Fesco, helping I am interning focuses on professionally The ompany c outsourcing company and assist human resources nd manage employees, organization. The hire, train, a set up enterprises, official documents, local companies with clients, polished foreign nd a y time here I met Throughout m f employees. long the way. with oreign ad a lot of fun a effective, training, and h is truly innovative, provided English esco. The company trong for DDA F is because of s have utmost respect is so successful I easons this company rue family one of the r taff. There is a t g I believe and s and rowing. government, community its customers, with erson. relationships m a changed p I realize that I a atmosphere present. this adventure memories from (chop-stick I recount all my knowledgeable, As confident, independent, the it. I am a more Professor Schrage, n question about to the university, There’so be forever grateful there are I will ourney. I feel that w and professional. me along this j using) oman lse who helped tart my next and everyone e I am ready to s a D Fesco, and I feel that stafft DA can’t be solved, no problems that no asksoo t t big, adventure!

Marketing (‘09)

the Bill Kimball Fund, the Michael and Jacqueline Mrosko International

Travel Fund and all the contributors to the Dean’s Fund for Excellence, for helping students access international opportunities.

24 Gifts Multiplied

Every Story Counts The following companies Greetings, UNIBusiness Alumni matched their employees’ gifts and Friends. to the College:

As the Director of Development John Deere Foundation for UNIBusiness, let me express Allstate Foundation a heartfelt “Thank you!” for Principal Financial Group your generosity over the past Foundation, Inc. year. We are humbled by the Pioneer Hi-Bred International, Inc. outpouring of support so many of Square D Foundation you have shown. Whether it was Monsanto Company a contribution of time, talent or treasure, your support has played Rockwell Collins a critical role in the success of S.C. Johnson Wax Fund, Inc. UNIBusiness. Caterpillar Foundation Hormel Foods Corporation Each year I am reminded of our Marsh & McLennan dedicated alumni and friends as Companies, Inc. I look over the following Annual Report of Giving. The Report tells General Electric Company/GE a remarkable story of the extent of generosity by UNIBusiness’ donors. Behind Foundation every name on the list is a person with a story – a story of his or her own United Technologies decision to make an impact. PricewaterhouseCoopers Foundation In my role at UNI and over the course of my travels, I’ve had the privilege to Wells Fargo Foundation meet with many of you to say ‘thanks’ and hear your story of why you give. Hewitt Associates One such story I encourage you all to read is about Mike and Jaci Mrosko on page 28. I’ve had the distinct pleasure of getting to know Mike and Jaci, and Aegon USA, Inc. their children Rachel and Jacob. They are shining examples of alumni who’ve Waterloo Industries, Inc. recognized the impact UNI had in their lives, and in return, are committed to Deloitte & Touche Foundation helping ensure it impacts the lives of future students. H & R Block Foundation Bertch Cabinet Manufacturing The Mroskos’ story is one of the many I’ve heard in my time at UNI. There Automatic Data Processing, Inc. are many more left untold. The support you provide UNIBusiness is essential, it’s appreciated and we’d love to hear from you. Please feel free to share your Lennox International, Inc. stories with me, and come see for yourself what’s happening on campus and in MetLife Foundation the College of Business Administration. I’d be happy to give you a tour. It’s Midland National Life always a pleasure to meet our valued alumni and friends. Insurance Co. Key Foundation To learn more about how you can make a difference to UNIBusiness, please Wellmark Blue Cross and contact me at 1-800-782-9522, 319-273-4444, or [email protected]. Blue Shield With Panther Pride, Guy Carpenter & Company, LLC Cooper Tire & Rubber Company Entegris, Inc. Brinks Home Security

Derek Thoms (Economics ‘02) Director of Development the companies that matched College of Business Administration their employees’ gifts to UNIBusiness.

25 UNIBusiness Annual Giving The College of Business Administration recognizes alumni and friends who made financial gifts to the College during the fiscal year July 1, 2008- June 30, 2009. Your support is greatly appreciated.

$100,000 and up H & R Block Foundation Iowa Chapter of the Sara A. Schroeder John Deere Waterloo Jill M. Hemphill Appraisal Institute Tecton Industries, Inc. Operations Kathleen Keefe-Wilson Iowa Lakes Corridor Initiative Kirk L. Tibbetts Michael D. Lundberg Iowa Realty Foundation Jean Trainor $10,000 - $99,999 Mutual of Omaha Bank JELD-WEN Co. Foundation Turnkey Associates LC AEGON USA, Inc. Steven P. Neighbors Jerald V. Jensen Ben L. Windust Appraisal Institute Education Okoboji Entrepreneurial Eric & Lori Johnson Timothy V. Williams Trust Institute Jim Kadavy Leslie Wilson Bill J. Bonnstetter Dustin C. Petersen Matthew P. Kinley Kenneth L. Wise Michael L. Brandmeyer Wayne R. Piehl KPMG Foundation Brian D. Worth CIPCO Principal Financial Group Daniel P. Kunkel Jeffrey & Ellen Valde Steven B. Corbin Rockwell Collins Daniel T. Leese Christopher & Jennifer Yarrow DeAlda Diemer Square D. Foundation Jeff & Vickie Lenz Rachelle C. Yousefi Kevin E. Steere Dale Lischer GE Fund $500 - $999 Goldman, Sachs & Company Wells Fargo Foundation Lloyd V. Douglas Testimonial Fund Fred & Robin Abraham Gil & Mary Gutknecht $1,000 - $4,999 Jorgen H. Heidemann William J. Lorenz Joel E. Abrahamson Steven & Glenda Howard David R. Allbaugh James & Patricia Luhrs Allstate Foundation Krause Gentle Foundation Gary D. Anderson Marsh & McLennan Margaret Asmus John Deere Foundation Baker Tilly Virchow Krause, Companies, Inc. BH Equities, LLC Jon & Sarah Lancaster LLP Tony & Luann McAdams Brown Bottle - Cedar Falls Ike & Emile Leighty Brian & Sherri Becker Michael McBride Dennis Clayson Benjamin & Jennifer Miller Black Hills Utility Holdings Mel Foster Co. Carol & Robert Crane Michael & Jacqueline Mrosko Ted Breidenbach John & Joy Meyer Kip W. Elliott Nationwide Insurance Gary & Diane Bridgewater Gaylen & Glenna Miller Ned J. Fagg Foundation Rick & Mary Christ Kurt G. Moser Robert R. Farrell Northeast Iowa Charitable Clifton Gunderson, LLP Christopher & Margaret Wayne F. Frost Foundation Community National Bank Mueller Tracy S. Gallery Pioneer Hi-Bred Richard & Susan Day Nolin Milling Inc. GMAC Mortgage International, Inc. Larry D. DeBower Thomas & Karol Nordstrom Ronald & Heidi Grell PricewaterhouseCoopers Lisa J. Dreyer Northwest Bank Lee E. Grimes Foundation Farmers Trust & Savings Bank Jamie Van Nostrand Tony Heiple Principal Financial Group Fidelity Foundation Steven B. Oberhauser Stefanie Hillmann Foundation, Inc. Jason D. Flinn Douglas W. Opheim Scott Horton Gary J. Roling Fors Investments Joseph M. Otting Institute of Management David & Angela Schroeder Rodney & Heidi Foster Pella Corporation Foundation Accountants Joann & Timothy Throndson Lynda A. Graham Roger A. Peters Jay & Shelly Johnson United Fire & Casualty Steven K. Graves David & Cynthia Petratis Sherri L. Kinseth Company Greyhawk Partners, Inc. Randal R. Pilkington Lanny & Carol Lang Jeffrey L. Hamilton Prudential Financial Paul B. Laures $5,000 - $9,999 Scott & Mary Ellen Hassenstab Richard H. & Kathleen M. Neil C. Marck Stephen J. Anderson Kyle & Wendy Henderson Redfern Robert L. Mauer Bergan Paulsen & Company Matt & Katie Hesse R L Goodenow Farm, Inc. Gladys M. Meier Jeffrey & Kimberly Bjustrom Charles J. Hoefer Ronald A. Rolighed Kathy J. Minde Margaret & Robert Bradford Hogan-Hansen, CPA’s and Douglas & Margit Ross NCP, Inc. Mitch & Jodi Christensen Consultants RSM McGladrey, Inc. P. Kelly Noll Deloitte & Touche Jack C. Ingle Richard A. Rue Kyle K. Oetker Foundation Institute of Real Estate Saltzman Hamma Nelson Pioneer Hi-Bred Ernst & Young Management Chapter 63 Massaro, LLP International, Inc. Guy Carpenter & Company, Iowa Area Development Group Peter & Susanna Schlicksup Pohlad Family Charities LLC Iowa CCIM Chapter Steven & Lori Schoenauer Darrel & Kathleen Porter

26 Rich & Jackie Pullen Alan Burr & Tracy Wagner David Evenson Julie M. Hyland Sean & Amy McGuire Peter & June Rainbow Nancy A. Streit Laurie Rueber Tatum & Jon Buse Farmers Savings Bank/Fostoria Karthik S. Nanjunda Iyer Mike & Patricia Meinders Kadiampatti N. Rajendran James & Nancy Strother Jeffrey Scudder Patrick & Julie Cahalan Erik & Shannon Federer James & Lisa Jaacks John F. Meneough William R. Rasmussen Lara Swan Jon Shepherd Laura D. Campbell Louis J. Fettkether Jean I. Janssen Ann M. Menke John C. Raver Sharon L. Swanson State Farm Companies Carney Alexander Marold Co., Jed A. Fisk Lisa Jepsen Vicki J. Merchant Nicholas Recker C. Thoms Talbot Foundation LLP Dianna J. Fitzl Jerry Ask Investment Services Terry & Kristin Merfeld J.D. & Shana Rieber David J. Tangeman Lavern P. Stille Caterpillar Foundation Lynn M. Forbush Scott M. Jessen Kenneth & Dianne Meyer Dennis & Marie Roberts Taylor Veterinary Hospital Gaylen & Mitzi Tann Chad & Laura Chandlee Lori A. Fossen Johnson & Johnson Kristi & Cory Meyer Anthony & Michelle Rogers Jane M. Thill Pam & Jim Taylor Marcelle J. Chickering Brian D. Frevert Lynn & Cathy Johnson Lynn M. Miller Michael & Julie Rokes Brian D. Thompson James D. Usgaard Matthew J. Chorpening Kelly Fricker Timothy D. Johnson Mark E. Miller Timothy & Therese Rolfes Lyndon & Jane Thompson Waterloo Area Chapter Larry M. Christ Mark W. Fuhrman David & Kathleen Jungen Jacque & Tim Mohs Robert V. Rosell Derek & Aaron-Marie Thoms ISCPAS Dirk R. Christensen Brent A. Futrell Todd Kanne Monsanto Company Ellen M. Rosenstiel Cindy M. Thul Ms. Heidi B. Weiskircher Eric J. Christenson Douglas & Christa Gach Barbara Keninger Matthew & Mindy Morris Brian T. Ross Brent M. Tjaden Kent A. White Daniel A. Christianson Greg A. Gall Stacy Kennedy Charles W. Murphy Todd & Teri Ross Jerald M. Torgerson Mark & Teresa Whitham Cisco Systems Foundation Janet Gallagher Wendy Keppy Shaunda & Craig Murphy Annette M. Roth Christine Tostenrud Brenda Clancy Christopher J. Gehling Jodi R. Kerr William E. Murray Roth Jewelers Cara A. Underwood $100 - $499 Kris Clark General Electric Company/GE Key Foundation Randall A. Nazette Daniel & Dianne Rubendall Unique Settlements, LLC Chad & Kimberly Abbas Carrie & Gerrad Clausen Foundation Todd & Ann Kielkopf Gary & Cindy Nelson Julia L. Ryan United Technologies Lori L. Abernathy Thomas E. Clifford David K. Gibbs Susan Kirch Thomas L. Nelson Scott A. Samuelson University Book & Supply Steven R. Ackerson Mark L. Conlon Charles C. Gillette Thomas J. Knapp Gary M. Niceswanger Maxine Sandretto Upah Tax Service Charles F. Adams Cooper Tire & Rubber Chad & Britni Gookin Crystal Lyn Knoke Andrew & Lori Nielsen Jeffery J. Sauer Katherine Cota-Uyar & John & Kelly Ager Company Timothy J. Gotto Judith Koopmeiners Paul R Norton II Bob Saunders Bulent Uyar David & Corinne Ahlstrand Darwin G. Copeman Brian & Mary Gottschalk Michele & Mark Koppedryer Kenneth R. Nye Scott L. Sawyer Jill M. Vinzant Philip & Ginger Akason Brent & Laura Cottington Joseph H. Grandis Lisa C. Kost Joy N. O’Bresky Chris A. Schmidt William J. Vollenweider American Marketing Lois I. Craig Paul & Gina Greene Anthony S. Kozak David & JoDee Ohl Diane & Michael James & Marjorie VonBon Assoc. UNI Dale Cyphert Gregory T. Grimm Kevin J. Krause Tracy L. Olson Schnieders David P. Vonderhaar Richard L. Anglin Daniel J. D’Alessandro Eric & Heather Gunderson Robert & Louise Krogh Christopher P. O’Neill Melissa Scigliano Peter & Marilyn Voorhees Allison L. Appel Gregory A. Davies Monica M. Haag Alan & Debra Krueger Catalina & Michael Paar S.C. Johnson Wax Cordell & Marcia Wabeke Kerry S. Arehart Kristine G. Davis James & Beth Hall James M. Krueger David Page Fund, Inc. Kevin Joseph Wadle Michael R. Armbrecht Randy R. Davis Mary L. Hall Jay E. Kruger Patrick S. Page Michael & Katherine Shaffer Brian R. Ward Angela M. Arthur Rebecca A. Davis Mark & Jennifer Halupnik Tamera S. Kusian Larry G. Pagel Deena Sigel Waterloo Industries, Inc. Brian & Carla Asmus Nicki DeGroot Sandra K. Ham Chad & Tiffany LaBahn Mark A. Penney Robert J. Silhacek Brian Watters Aviva Charitable Foundation Jason G. Deibert David L. Hamlett Matthew P. Laddusaw PepsiCo Foundation Ronald E. Sipes Carolyn Weber Mary F. Babinat Deluxe Corporation Mark & Sharon Hannasch Francis K. Lai Eric A. Peters Julia A. Slaydon Wellmark Blue Cross and Steven F. Bahlmann Foundation Martin D. Happel Shirley L. Laraway Terry D. Peterson Robert A. Sloan Blue Shield Jeffery C. Baker Richard B. Dennert Mary L. Harder Steven A. Larson John P. Phillips Dennis & Deborah Sloth William F. Werning, Jr. John & Deborah Bakewell Daniel Dickman & Paula Bilo- Kyle L. Harfst Michael J. Leahy Theodore & Jessica Pienkos Roger K. Smith George M. Wessel Tom & Kimberly Bakey Dickman Kenneth A. Hartmann Patricia Leistikow Stanley S. Poe Scott R. Smith Mark & Brooke Westemeier Vern & Jeanne Balk Kevin A. Diehl Scott R. Hauser Duane R. Lemke Craig W. Popenhagen John K. Sorensen Steve Wierson Tracey M. Ball Jeffrey W. Dietzenbach Bridget A. Hayes Lennox International, Inc. Robert L. Poundstone Erin Souder Mark A. Willard Conrad & Jeannette Baumler Brian & Teri Donnelly Lance Apollo Haynes Steven R. Lind Susan A. Powell Gregory Spick Kirk Jennings Williams Keith G. Baumler Laurinda M. Dubishar Lee A. Hecht James & Toni Lohman Prudential Foundation Eric M. Staebell Sarah Wittnebel BCS Financial Corporation Marilyn W. Dudley Lyndon E. Heiselman Steven M. Lorenz Larry & Sue Pump Charles W. Stehn Lawrence W. Woodard Katherine Behm Elizabeth M. Dunshee Robert & Mary Beth Helgens Susan Hanna Lovern James B. Quade Sandra J. Stork Becky Zieman-Hayes Andrew & Jennifer Behrens Joseph T. Dunsmore Patrick & Traci Hellman Donald & Lori Lower Bertch Cabinet Manufacturing Dutton, Braun, Staack & Duane & Marcia Henke Marcus A. Luett Marshall P. Blaine Hellman P.L.C. Angela Herron Cassie & Randy Luze Thomas E. Blazek Derek R. Ebling Kathleen & Bill Hesse Jean H. Ma Panther Phone-a-thon Fund Drive Results Paul & Kathleen Boffeli Brent A. Eckhoff Mardy A. Higgins Mark A. Madetzke Each fall UNIBusiness students call alumni to ask for their help in supporting the Dean’s Marilyn D. Bonnett Ecolab Foundation Lisa M. Hopp John W. Manske Fund for Excellence. This fund allows the College to offer scholarships and extracurricular Denise Bouska Jeffrey & Sandy Egli Tanya S. Hopson Stacy A. Marean Wesley & Pamela Brackey Derek & Sarah Eilderts Hormel Foods Corporation Stephen & Sharon Marlow opportunities to help more of our students start their careers with a professional edge and a Brian Hans Bratvold Emerson Electric Co. Peter & Amanda Hosch Wayne A. Marple global perspective. Brinks Home Security Entegris, Inc. Jeremy & Allison Howard Mellisa H. Mattsson Thanks to your generosity, $60,512 was raised during our 2008-2009 phone-a-thon. If you Wilmer C. Brosz Jeffrey & Karen Erhardt Michelle L. Hueser George & Joyce Maxwell still need to fulfill your pledge, or if you would like to make an additional gift to UNIBusiness, Jerry & Kristie Brown Stephanie & Lance Ernsting Richard W. Hughes Kevin & Kathleen Mayer contact Development Director Derek Thoms at 1-800-782-9522, 319-273-4444, or Kimberly S. Brunner Staci Esch Kathleen M. Humiston Kenneth McCormick [email protected]. You can also give online at www.cba.uni.edu/deansfund. Julie A. Buckallew ESP International Jarren & Jen Hummel McGladrey & Pullen Gary L. Burke Kristi & Brian Even Benny D. Huseman Davenport

27 Alumni News

Mike & Jacqueline Mrosko Assist Students Focus on Alumni in the Same Way They Were Helped Accounting ‘99 Ryan England is an Management/Management ‘81 Wanda Smith is teaching accountant for the University Information Systems/ high school business in Young alums give back to ensure students have international experiences Births of Northern Iowa’s Foundation Business Teaching Livonia, Mich. ‘99 Stephanie (Heffernan) and Financial Services office. with very little debt because of Ernsting, son Jacob born May Births ‘81 Michael Wagner released the scholarships, and we’d like to 1, 2009. She and her husband, Economics ‘85 Mary Laws-Helming, son his first book, “Your Money, help students in the same way we Lance, live in Cedar Rapids. Jack born September 8, 2007. Day One: How to Start Right were helped. It’s such a benefit to Class Notes They live in Morgantown, PA. and End Rich”. It is a personal Class Notes graduate from college without the ‘90 Jon Shepherd is a partner at finance book for young adults. ‘87 Kathy (Siemsen) Minde ‘94 Lisa (Drahos) Frush, son burden of debt.” Alston & Bird LLP in Dallas, He lives in Los Angeles, Calif. has worked for Lenox Texas. He was named one of Brandon and daughter Lauren Mike, who is currently Strategic ‘86 Jacque (Hoth) Mohs is International Inc. for 30 years. the best lawyers in Dallas by D born March 27, 2008. Lisa Initiatives Program Manager for vice president-retirement and She was promoted to Director- Magazine in 2007 and 2008, as works at UNI in HR. She and GE Capital (Fleet Services) in investor services at Principal State and Local Tax in January, well as a Texas Super Lawyer. her husband, Travis, live in La Minneapolis, encourages others 2008. She lives in Richardson, Porte City. Life Insurance Company. She to leverage the significant benefit Texas. ‘01 Matthew Cole has accepted lives in Winterset. of ‘matched giving’ programs to a three-year visiting contract at ‘96 Beth (Scherman) Drees, ‘89 Jayne increase the impact of gifts. Over ‘79 Kevin Swalley is the University College Dublin in son Reuben born May, 2008. President/CEO of Grundy She and her husband, Arlo, live (Danner) the years it has helped the Mroskos Dublin, Ireland. National Bank in Grundy in Austin, Minn. Hladio is senior build a larger endowment much Center. ‘03 Joshua Van Kley works vice president, Class Notes faster than they could have done for Cambrex Pharmaceuticals Milwaukee ‘81 Bruce Jorth was appointed otherwise. He says many younger as a business development ‘74 Judy (Schwake) Shimon metropolitan region executive to the McGladrey & Pullen alumni may not be aware that their specialist. He lives in Waverly. retired after 35 years of for U.S. Bank. Experience abroad as an standpoint. The opportunity to companies offer the benefit. Board of Directors. He teaching. She taught Business Finance/Real Estate undergraduate can make the function in an international setting The Mroskos reside in is assurance leader of the Education courses at ‘90 Sherri (Van Wyhe) Hotzler McGladrey Florida Practice critical difference in a young also helped him secure his first job Chanhassen, Minnesota, but Pocahontas Area Community is CEO of Vantec, Inc. She and also leader of the firm’s Births Schools for the past 33 years. lives in Webster City. professional’s readiness for the out of college in an international maintain close ties with UNI Quality Control Delivery ‘94 Brian Hauser, son Grant audit department. by meeting with friends and business world. Mike Mrosko Structure Taskforce. born March 25, 2008. He ‘75 Dennis Presnall is CEO ‘91 Christine (Bailey) (Accounting ‘92) discovered this “I got the job primarily because classmates at Homecoming and and his wife, Charmin, live in of the Iowa Farm Bureau McDonald is director of ‘84 Jay Anliker is the president during his semester at Richmond of my international business attending several UNI functions Lynnville. Federation. He recently ended human resources for Syracuse University in London and found experience and the ability to or sporting events throughout the and CEO of UMR, Inc., a his 15-year membership on the Research Corporation in that it can also bring people demonstrate that I could thrive in year. Like many young families, wholly owned subsidiary of Class Notes Board of Directors of Ankeny Syracuse, New York. together whose lives are being a different culture,” Mike said. “It they work hard at balancing United Healthcare. He lives in ‘00 Scott Mikkelsen joined the Community Schools. Wausau, Wis. East Des Moines Chamber of ‘94 Michelle (Anderson) changed by world events. opened up a lot of opportunities the priorities of family, faith ‘76 Karen (Burke) Burianek Commerce Board of Directors. Kurtz was promoted to group “Richmond was a very throughout my career.” and careers. Being able to help ‘85 Christopher Kealy is the is the administrative assistant He is an associate of the Davis team lead at Target Financial international environment,” Mike and his wife, Jacqueline (a students access more opportunities US Tax Desk for the Middle to the director of the National Law Firm Business Division. Services, leading four teams Mike said. “I was there at the ‘93 UNI graduate in education), through international experience East. He lives in Dubai, UAE. Animal Disease Center in in the credit customer service want to make sure that other and graduate with less debt ‘04 Alex Abram works for Ames. beginning of the 1991 Gulf War, ‘87 Steven contact center. She lives in and there were many students students get a chance at those fits well with those priorities, Gavilion in Omaha, Neb. Lakeville, Minn. Bahlmann is ‘78 Kathy (Santi) Monroe from Iraq and Kuwait who were opportunities, too. In addition and they can enjoy seeing their CEO for Hank MBA is a computer teacher for ‘96 Lori Caligiuri is the to two other scholarships they contribution at work. at Richmond because they had Haney first through eighth grades director of HR at Farah been locked out of their countries established at UNI in accounting Mike said, “Jaci and I had International ‘01 Justin Dams is vice at Indianola Middle School. Leisure Parks Management. during the conflict. I was much and education, they have added fantastic experiences at UNI. After Junior Golf Academy in Hilton president, financial advisor In October 2008, she was She is currently working on more personally exposed to global the Michael and Jacqueline we graduated, we appreciated Head Island, South Carolina. for MEMBERS Financial inducted into the UNI various projects within the culture and the global economy Mrosko Endowed CBA even more the extent to which the Services at Veridian Credit Athletics Hall of Fame as amusement park industry, ‘89 Timothy Collison is a self- than I would have been in Cedar International Travel Scholarship strong accounting and education Union. He lives in Cedar Falls. a member of the 1977 UNI including theme and water employed consultant. Falls.” to further share the advantages programs gave us an advantage in softball team that won the parks. Mike said the entire experience they received as students. our fields. The technical skills you ‘90 Matthew Engle is an Women’s College World ‘96 Stephen Rokes is senior learn at UNI are the best out there, accounting and finance senior Series. helped him develop a skill set that “Both Jaci and I had manager of data architecture vice president and chief has been advantageous in thinking scholarships at UNI, and it didn’t and if you put them together with ‘81 Doug Mabeus is the and data operations for accounting officer of Grubb more broadly and being more take long to realize how big an international study opportunities, Vice President, Operations Buccaneer-Software & Ellis Company. He lives in appreciative of differences from advantage that is,” Mike said. “We you can really broaden your at Royston LLC in Atlanta, Development and Informatics Coto De Casa, Calif. both a cultural and an economic were fortunate to have graduated capabilities.” Georgia. Division.

28 Alumni News

‘97 Brian Dutler is general ‘06 Matthew Jackson is a Deaths Marketing manager at Ruffled Feathers service sales representative at ‘61, MA ‘66 LaVerne Class Notes Golf Club in Lemont, Ill. He KONE Inc. in Denver, Colo. Andreessen, Waverly, died ‘50, MA ‘70 Merle Dickinson serves as regional manager for 4/9/2009. six other golf properties for ‘06 Erika Ovel is a medical is retired. He was vice president Eagle Golf. supplies specialist for Martin ‘75 Kelly Beenen, Belmond, of finance for Goodwill Brothers Distributing Co. in died 10/30/2008. Industries in Sioux City from ‘97 J. Royce Richtner is an Cedar Falls. 1979 to 1992 and director of Marriages assistant professor of business Dickinson Tours from 1994 to ‘06 Paul Van Gorp is a funeral law at Drake University. ‘98 Sheri (Sedlacek) Granville 2001. He now gives musical director with White Funeral married Richard Granville. programs with his wife, Phyllis ‘01 TJ Lucero works at the Homes in Apple Valley, Minn. (Education ‘49). John Deere European Office in ‘00 Barbara Baedke Staebell ‘08 Laura Michaelsen is Mannheim, Germany. married Jason Staebell. ‘56, MA ‘65 Don Kolsrud is a senior human resources retired and living in Iowa City. ‘03 Kevin Reiter is the product coordinator for AEGON ‘02 Kole Petersen married specialist for Geonetric in Financial Park in Cedar Molly Nelson Petersen. ‘67 Gary Anderson is president Cedar Rapids. Rapids. of Preferred Care Partners ‘04 Joseph Ricklefs married Management Group based in ‘03 Justin Rogers is an ‘08 Tyler Schmitz is a Katy Gardner Ricklefs. Plano, Texas. The company executive group leader at the technical analyst for State manages 64 skilled nursing Target Distribution Center Farm Insurance. He lives in facilities in nine states. in Cedar Falls. He lives in Bloomington, Ill. Waterloo. UNIBusiness Alumni In Residence UNIBusiness is proud of the significant impact its alumni have on the world. We are grateful to the alumni who bring their expertise ‘back home’ to help students connect theory to practice. Below are the 2009 Alumni in Residence who returned to campus during our annual recognition gala in April.

Economics Jon Shepherd (‘90), Partner at Alston Bird, LLP

MBA Management Mike Tully (‘06), Randy Ramlo (‘83), President & President & CEO, CEO, Aerial United Fire Services, Inc. Accounting & Casualty Jeff Provost (‘84), Company Finance Kansas City Office Marketing Fallon Savage (‘02), Managing Partner, Todd Timmerman (‘88), Second Vice President, Deloitte & Touche LLP Managing Director, First National Bank Institutional Sales, of Omaha Principal Financial Group

29 Alumni News

‘67 Vivian (Blewett) ‘82 David Morton is president- ‘00 Matt “Bob” Pedersen ‘04 Michelle Long is a Brandmeyer built a home on marketing services at J.W. received an MA in mortgage sales specialist the Lake of the Ozarks. She is Morton & Associates in Cedar international business from for Wells Fargo Financial retired and travels four months Rapids. ESC Rennes in France. in Des Moines. She is each year. He is a northwest territory currently involved with Young ‘88 Todd representative for Timm Professionals Connection in ‘67 Paul Fitzgerald is vice Timmerman is Medical Technologies. He lives Des Moines and Habitat for president-community managing in Robbinsdale, Minn. Humanity. development at Titonka director, Savings Bank in Forest City. Principal ‘00 David Trebel was ‘04 Jessica (Jobe) Pienkos is a Financial Group in Charlotte promoted to vice president- buyer for Naturalizer Concept ‘69 Kent White was elected to NC. account executive at Hellman stores. She is pursuing her the Henry County Iowa Board Associates in Waterloo. He MBA at the Univerity of St. of Supervisors. ‘93 Phillip Luebke is a was previously a senior account Louis. marketing manager for Cellular executive. ‘71 Douglas Cross retired from One. He lives in Missoula, ‘04 Sara Schmidt is Western his work as a J.D. Supervisor. Mon. ‘01 Abigail (Oglesby) Remund regional car dealer specialist ‘71, MA ‘74 Brian Knutson is global women’s training for The Ashland Corporation ‘94 Michelle Kaufmann is footwear product line manager - Valvoline. She received the has retired after 38 years a Senior Client Consultant in public education. His for Nike Inc. in Beaverton, 2008 Valvoline Excellence with Prudential Financial in Ore. Award after one year with most recent position was as Dubuque. superintendent of Lake Zurich the company. She lives in ‘02 Ryan Murdock is an Thronton, Colo. Community Unit District 95 in ‘94 Martin inventory specialist for HyVee Lake Zurich, Ill. Patzner is vice in Marion. ‘04 Heather Seevell is president- ‘72 Darwin Copeman is the marketing manager and event director of ‘03 Jennifer Hinchman is president and CEO of Jeweler’s planner for Junior Achievement commercial a marketing analyst for Lee Mutual Insurance Co. in of Eastern Iowa. She lives in property management for the Enterprises in Davenport. Neenah, Wis. Janesville. Lund Company. He lives in La ‘04 Steve Hanson is marketing ‘05 Ryan Muhlbauer is a ‘73 David Heisterkamp is a Vista, Neb. and business development Global Manager at John Deere. haberdasher (personal clothier) ‘94 Scott Weiss is president of manager at NEIT in Monona. He has worked at John Deere for Tom James Clothing V.i.P.S. in Cedar Rapids. for 35 years. ‘04 Ann (Zimmer) Kegler is Company in Minneapolis, ‘00 Stephanie (Roehlk) a sales representative for C.H. Minn. ‘81 Michelle Rourke is director Emmons is assistant marketing Robinson Worldwide in Iowa ‘05 Allison Quandt is district of development for Iowa Public City. Radio. manager for CMI in Chicago, manager for Frito-Lay in Cedar Ill. Falls.

Alumnus Competes in Global Student Entrepreneur Competition Ben Frein (Finance, Computer Science $150,000 in cash, prizes, and services. ‘09) earned the Midwest Regional Global E-Holdings, Frein’s primary company, Student Entrepreneur Title at the Global specializes in Web site design and Student Entrepreneur Awards (GSEA) hosting and operates several e-commerce competition in Chicago, Ill., October businesses including BellyBling.net and 23, 2009. Frein advances to the 2009 GreatMiniatures.com. Frein worked GSEA Global Finals held in Kansas with the John Pappajohn Entrepreneurial City, Missouri, November 18-20, 2009 Center’s Student Business Incubator in to compete against individuals from 19 growing his business and preparing for other countries for the Global Student the competition. Entrepreneur Awards Global Title and Frein is originally from Garner, Iowa.

30 Alumni News

Twins’ New Home Near Completion Aaron Meisch, Blue Sky Aerial Photography Aerial Sky Blue Meisch, Aaron

Update from Kip Elliot (Management ‘89), see story titled “Air Apparent” UNIBusiness magazine 2008-2009: Kip Elliot Kip tells UNIBusiness that Target Field, the new home for the Minnesota Twins, will open in April of 2010. Construction is over 90 percent complete. The new ballpark is located in the historic Warehouse District of downtown Minneapolis adjacent to the Target Center (home of the Minnesota Timberwolves). Target Field will hold about 40,000 fans. Single game tickets for the Twins’ 2010 season go on sale in March. Season tickets are available now. For more information, please visit www.twinsbaseball.com.

‘05 Amanda Vanous is ‘07 Kristin Jacobs is employed ‘08 Amber Evans is a product ‘09 Alicia Wedeking is a marketing coordinator for the with Enterprise in Apple development assistant with sales representative for Copy VGM Group in Waterloo. Valley, Minn. Atico International USA in Ft. Systems, Inc in Des Moines. Lauderdale, Fla. ‘06 Matt Rodemeyer is general ‘07 Troy Vogel is corporate Deaths manager with Kum and Go in support specialist with Iowa ‘08 Nathan Heying works for ‘41 Evelyn Black Yeaton, Grimes. Public Radio. Genesys in Kansas City, Mo. Chicago, Ill, died 12/30/2008. ‘07 Matt Bernard is operations ‘08 Hilary Allen is the new ‘08 Lea Schellhorn is assistant ‘53 William Eckstein, Silver manager at Target Distribution account coordinator and sales environmental business Spring, Maryland, died in Topeka, Kan. assistant at Cintas in Des manager for the Iowa Waste 7/23/2008. Moines. Reduction Center in Cedar Marriages ‘07 Marc Cabrera is a trade Falls. sales representative with ‘08 Danielle Dilger is a retail ‘06 Margene (Deutmeyer) the Pella Corporation in sales representative at the ‘08 Jane Yagla works for Shullaw married Joshua Minneapolis, Minn. Hershey Company in Gurnee, Archer Daniels Midland in Shullaw (Accounting, Finance Ill. Mexico, Mo. ‘05).

31 Graduation Celebration

Student Organization of the Year The Accounting Club was honored for its many service activities. The club raises funds by working the UNI-Dome concession stand, helps the Northeast Iowa Food Bank, brings accounting firms to campus for recruiting events, and hosts an annual golf outing.

Joseph and Bonnie Otting Faculty Teaching Award Chris Bauman (Accounting)

This year’s recipients wereKimberly Degner (Real Estate), Jared David and Cindy Petratis Faculty Teaching Schmit (Marketing), Jennifer Granzow (Accounting), Lucas Innovation Awards Bergmann (MIS), Kelsey Rinehart (Economics), and Alex Dan Power (MIS) and Susan Wurtz (Management) Koster (Management). Not pictured: Garrison Klein (Finance) Montage/Cedar Falls Brown Purple and Old Gold Award Bottle Student Leader Awards UNI’s Purple and Old Gold Awards recognize students Stephanie Wesely (Management) and for meritorious scholarship based on their GPA, academic Katie Noonan (Marketing) accepted activities, and overall contribution to the College. the Student Leadership Award for the outstanding leadership shown while serving as co-presidents of the Presidents’ Council.

University Book &Supply Junior Faculty Award David Surdam (Economics)

Outstanding Contribution to Business & Community Award Dale Cyphert (Management)

United Fire Group Faculty Student Choice Award Lisa Jepsen (Economics)

John Pappajohn Student Entrepreneurs of the Year Mark Watje (Marketing, second from left) and Stephen Rausch (Management, third from right) were recognized with the John Pappajohn Entrepreneurial Center Student Entrepreneurs of the Year award for their demonstrated success Four of the faculty award winners came together for a photo at in running small businesses. Mark is the owner of JIT Truck the Graduation Gala. L-R: Dennis Clayson, David Surdam, Parts, which specializes in providing advanced delivery of parts Daniel Power and Susan Wurtz. for truck and equipment manufacturers. Stephen received the award for Rausch Brothers Trucking, a family-owned trucking business that has grown to become one of Iowa’s largest sub- Faculty Research Award Dennis Clayson (Marketing) contractors in the construction and agricultural lime industries. Wall Street Journal Award Faculty Service Award Rex Karsten (MIS) Initiated in 1948, this award recognizes undergraduates our award sponsors, Alumni in Residence, our who display high academic achievement in business-related programs. Keith Worner (Marketing) was this year’s award entertainers, and the parents and others who came to applaud these recipient. outstanding accomplishments.

32 In its fall 2009 meeting, the Board had a visit from the new UNI Executive Vice President and Provost, Dr. Gloria Gibson. Front row, L-R: Jean Trainor, Scout Hauser, Dan Leese, Provost Gibson, Cynthia Goro, Ted Breidenbach, Ken Wise. Back row, L-R: Joe Dunsmore, John Sorensen, Lisa Dreyer, Jeff Hamilton, Kevin Steere, Tim Williams, Robert Bradford, Matt Kinley, Randy Bray.

Executive Advisory Board This group of accomplished executives provides advice to Dean Moussavi on academic programs, faculty and student development, outreach, the College’s strategic position, and other issues of interest. Collectively and individually, the members serve to strengthen the College’s reputation, improve its visibility, promote its interests, and help develop its relationships with important constituents. Learn more about these distinguished board members at uni.edu/EAB.

Robert Bradford Managing Director, Bradford Associates Dan Leese President & Partner, 585 Wine Partners Randall Bray Principal, three-sixty group LLC Gaylen Miller CEO (retired), Ag Services of America Ted Breidenbach General Manager, John Deere Ottumwa Works Richard Rue Senior Vice President & CFO, ITAGroup, Inc. Diane Bridgewater Vice President & CFO, Life Care Services John K.Sorensen President and CEO, Iowa Bankers Association Lisa Dreyer Regional Private Banking Manager, Wells Fargo Bank Kevin Steere Managing Director (retired), Guy Carpenter & Joseph Dunsmore President & CEO, Digi International Company, LLC Cynthia Goro President, The Worthington Partnership Randall Stromley Vice President and Regional Director, Jeff HamiltonPresident & CEO, ESP International Wells Fargo Bank Scott Hauser Director, RSM McGladrey, Inc. Jean Trainor CEO, Veridian Credit Union Cain Hayes Head of Operations – Institutional Market Segment, Timothy V. Williams Senior Vice President & CFO, Blackbaud, Inc. Principal Financial Group Kenneth Wise Partner, PricewaterhouseCoopers LLP Matt Kinley Chief Financial Officer, Equity Dynamics, Inc. Non-Profit Organization U.S. Postage PAID College of Business Administration UNI University of Northern Iowa Cedar Falls, IA 50614-0123

UNIBusiness Gala Talent Search Biggest Ever Each year we invite all UNIBusiness students to participate in our annual talent search. Performances are held during our spring Graduation Celebration, at which UNIBusiness graduating seniors and faculty are recognized and honored for their accomplishments. 2009 saw the largest number of tryouts ever. Congratulations to the three acts that were chosen to perform!

Erica Drown and Spencer Rahm Matt Lowman Adam Aalderks and Kantinka Kyeremateng

UNIBusiness student Senior Marketing and Presidents major and Student Council member Leadership Award Stephanie Wesely winner Katie Noonan presents retiring was one of the student Dianne Cheeseman emcees for the gala. with a gift of thanks and appreciation for many years of assisting the Presidents’ Council with the Senior Graduation Celebration.