2019 DEAN’S REPORT DEAN’S OFFICE Mike Barger Executive Director for the Office of Strategy and Academic Innovation FROM THE DEAN Norman Bishara Associate Dean for Undergraduate Programs Amy Byron-Oilar Chief of Staff, Chief Diversity Officer Michigan Ross community, Jerry Davis Associate Dean for Business+Impact As we begin a brand new school year, I encourage you to take a moment to Kerry Flynn review some of our extraordinary accomplishments from the past year. Chief Information Officer Wallace “Wally” Hopp It was a year full of incredible innovations, bold solutions to important social issues, Associate Dean for Part-Time MBA Programs and memorable moments that have inspired us to work harder and reach even higher Brad Killaly to achieve our goals. Among the exciting highlights are every Michigan Ross program Associate Dean for Full-Time and Global MBA Programs being ranked in the top 10, our historic capital campaign that raised $415 million, M.S. Krishnan spring commencement with entrepreneur Daymond John, and Ross researchers Associate Dean for Executive Programs invited to Capitol Hill to weigh in on climate change and regulating nonbank Francine Lafontaine financial institutions. Senior Associate Dean for Faculty and Research We kicked off the fall semester with news that Michigan Ross would be the first Bill Lovejoy top-ranked U.S. business school to offer an online MBA program. Top-tier media Associate Dean for Specialty Programs outlets covered the announcement, highlighting Ross as among the most innovative Jennifer Monaghan Chief Marketing Officer business schools in the world and reporting the far-reaching implications for business Sean O’Neil education. Similar to how Michigan Ross became the standard for action-based Chief Financial Officer learning, we are once again creating industry-defining innovations in digital education. ACADEMIC AREA CHAIRS We also introduced several new programs, including a living-learning community Sue Ashford for Ross BBAs during their first year. Our new Alumni in Residence program is Management & Organizations supported by dedicated alumni who provide one-on-one mentoring to our Fred Feinberg Marketing students. And our Business+Impact initiative is developing purpose-driven leaders Roman Kapuscinski with the character and capability to make a positive impact in business globally. Technology & Operations One of the highlights of my year was teaching a course on leadership and teamwork Ted London Business Administration that included a two-week journey to Africa where 30 students and 4 alumni trekked Greg Miller to the top of Mt. Kilimanjaro, the highest mountain in Africa. It was the leadership Accounting experience of a lifetime for our students as they embraced the challenge and helped Lynda Oswald each other learn and grow. Business Law Amiyatosh Purnanandam None of these achievements would have been possible without our amazing Finance students, faculty, and staff; and extremely generous alumni, donors, and corporate Jordan Siegel Strategy partners. Thanks to all of you who helped make the 2018-2019 academic year one Jagadeesh Sivadasan of the best in Ross history. Business Economics & Public Policy I hope you enjoy this year in review, as we revisit memorable events, showcase Stewart Thornhill Entrepreneurial Studies many of our accomplishments and accolades, and feature some of the exceptional Sarah Zimmerman individuals who are committed to the Ross mission to create a better world through Business Communication business. Here’s to another amazing school year, and as always, Go Blue! EXECUTIVE COMMITTEE Izak Duenyas Technology & Operations Tom Lyon Business Economics and Public Policy Scott DeRue M.P. Narayanan Edward J. Frey Dean Finance Stephen M. Ross Professor of Business Cindy Schipani Business Law Carolyn Yoon Marketing OUR MISSION

Michigan Ross is committed to building a better world through business. Through our powerful ideas, purpose-driven leaders, and positive impact, we use business to make a meaningful difference in the world. OUR VALUES

Our core values serve as guiding principles for how we act and operate as one of the leading business schools in the world. THE ROSS WAY: CONNECT & COLLABORATE OUR CORE VALUES We are collaborative and team-oriented professionals.

LEARN & The Ross Way represents our commitment to strive for excellence GROW and bring our best selves to everything we do. These values guide how We embrace a growth mindset, take risks, we think, how we act, and how we connect with others as we build a and learn from better world through business and education. BE INCLUSIVE experience. We are a diverse community that embraces working across differences in pursuit of positive impact and progress. BE AN OWNER BETTER BUSINESS We trust and empower our people to take BETTER WORLD ownership. DO GREAT THINGS We are committed to excellence and impact. Diversifying Business Over the past five years, we have increased the representation OUR VALUES IN ACTION: of women and minorities in our student community at Michigan Ross. For example, our Full-Time MBA Program recently attracted the highest number of applications from under-represented minority students, and seated the largest , percentage of women in the class. DIVERSITY EQUITY, WOMEN UNDERREPRESENTED MINORITY STUDENTS* 13% 13% 45% 43% 43% 10% 10% 9% 40%

AND INCLUSION 32% 2017 2015 2018 2019 2016 Michigan Ross is an exciting, diverse, and interactive community. We celebrate Ross Recognized by U.S. different perspectives, cultures, and life experiences in an environment that enriches *U.S. citizens and permanent News for Diversity Initiatives residents identifying as Black, Michigan Ross was featured in U.S. News & World Report Hispanic/Latino, Native American, learning, inspires new thinking, and builds the best leaders — so much so that we or Native Alaskan as a percentage for diversity and inclusion initiatives. The U.S. News feature 2017 2015 2018 2019 2016 of total class size have been nationally recognized for our continued efforts. highlighted MBA programs that are increasing recruitment of women and minorities, and diversifying faculty. Inclusive Teaching Workshops BBA Outreach Programs A series of new professional development opportunities Our commitment to building a diverse and welcoming for Ross faculty launched over the past year from U-M’s community of learners includes a number of outreach Center for Research on Learning and Teaching, as well as programs geared especially to historically underrepresented Director of Diversity and Inclusion Taryn Petryk and Faculty groups. Most recently, our BBA team introduced an Director of Diversity and Inclusion Carolyn Yoon. Workshop All-Access Weekend where motivated high school juniors topics included student climate concerns, promoting culture gain firsthand experience with what it would be like to study change to prevent sexual harassment, and two inclusive at Michigan Ross. Other outreach programs include: workshops on responding to difficult moments and MREACH A program that brings high schoolers to critically analyzing inclusive teaching. Ross for hands-on learning experiences.

LEAD: SBI Academic sessions, corporate visits, cultural Bringing Our Values into and social activities, and college preparation. Rackham Faculty Allies BBA DEI Task Force the Business World THE PREPARATION INITIATIVE A learning community Our alumni carry their dedication to diversity, equity, for high-potential undergrads who may have had Diversity Grant The BBA DEI Task Force is a new initiative consisting and inclusion into the workplace after they leave Ross. limited previous exposure to rigorous academics. The Ross PhD program received a Rackham Faculty of four committees that work together to promote In fact, a number of Ross alums lead the diversity efforts ROSS SUMMER CONNECTION A learning community Allies Diversity Grant for 2019-2020 honoring a new a welcoming, inclusive environment for all students at at their respective companies, including Ellis Griffith, for incoming Ross freshmen to aid in the transition from initiative to increase well-being, cultural awareness, and Ross. One of the group’s most recognized achievements MBA ’99, Chief Diversity Officer, McKinsey & Co.; high school to college. inclusive teaching among graduate students. This was was “U-M Undergrads in 100 Students” in the Winter Bo Young Lee, BBA ’97, Chief Diversity & Inclusion accompanied by Student Ally Diversity grant funding Garden at Ross — a visual representation of Ross students Officer, Uber; and Tamika Curry Smith, BBA ’95, for a doctoral student, who will lead the initiative among broken down by race with colored balloons to represent VP of Diversity & Inclusion, Nike. PhD students with guidance from the faculty director each demographic. The creative installation drew the of diversity and inclusion and the managing director attention of hundreds of students to the organization of PhD and research administration. and its mission. OUR STRATEGY

We generate powerful ideas. We develop purpose-driven leaders. We create positive impact. FACULTY RESEARCH Ross faculty continue to make amazing contributions, shape important conversations, and garner coverage in major news outlets around the world — including The New York POWERFUL Times, Time magazine, and Harvard Business Michigan Ross faculty are a vital source Review, among others. of powerful ideas that shape the most important conversations in business. They are globally recognized as thought IDEAS leaders who put their ideas into action.

PEER-REVIEWED251 ARTICLES IN TOP ACADEMIC JOURNALS

100+EDITORIAL POSITIONS AT ACADEMIC JOURNALS

Ross on Capitol Hill Women in the Medicaid and Michigan Ross faculty continue to Boardroom Mortality Rates influence some of the world’s most Despite years of raising awareness about An influential study led by Sarah THIRD-PARTY 31AWARDS FOR CONTRIBUTIONS complex business challenges. Jeremy the beneficial impacts of women's Miller, assistant professor of business Kress, assistant professor of business law, TO SCHOLARLY RESEARCH presence on corporate boards economics and public policy, garnered and Tom Lyon, professor of business of directors, fewer than 20 percent the attention of several major news economics and public policy, were of such seats are filled by women. outlets, including the Los Angeles invited to testify before the U.S. A compelling study by Cindy Schipani, Times, as well as a tweet from former Congress on vital public policy debates professor of business administration President Barack Obama. The study $ with their latest research. Lyon spoke and business law, explored the lack on the relationship between Medicaid before the House Committee on M INVOLVED3 IN MORE THAN+ $3.45M of gender equality in corporations. enrollment and mortality concluded Transportation and Infrastructure A wide range of challenges and that a sizable number of people are OF SPONSORED RESEARCH AWARDED about how infrastructure improvement TO THE UNIVERSITY OF MICHIGAN, barriers keep women from attaining alive today because of expanded can help lessen the impacts of climate WITH $1.65 MILLION AWARDED board positions, including but not coverage, an effect driven by a DIRECTLY TO ROSS change. Kress visited the Senate limited to insufficient growth reduction in disease- related deaths Committee on Banking, Housing, opportunities, gender bias, and lack that grows over time. The study found and Urban Affairs, where he warned of work-life balance. Schipani believes that about 15,600 additional deaths that improperly regulating nonbank that one solution is for private would have been prevented had the financial institutions risks another employers to set gender goals to Affordable Care Act expansions of economic collapse. address past discrimination. Medicaid been adopted nationwide. RECOGNIZING EXCELLENCE Michigan Ross faculty are some of the top minds in the business world — impactful teachers and researchers who put powerful ideas into action.

NEW HIRES & PROMOTIONS

2018 NEW FACULTY HIRES 2019 NEW FACULTY HIRES 2018 PROMOTIONS 2019 PROMOTIONS TENURE TRACK TENURED AND TENURE TRACK APPROVED BY APPROVED BY U-M BOARD OF REGENTS U-M BOARD OF REGENTS Matteo Crosignani Ekaterina (Kate) Astashkina Ross Faculty Make Professor Ross Professor Assistant Professor Assistant Professor Stefanus Jasin Kyle Handley of Finance of Technology Associate Professor Associate Professor with Tenure, “40 Under 40” List of the Week Earns National and Operations with Tenure, Technology Business Economics Justin Frake and Operations and Public Policy Poets&Quants named Sarah Miller, Uday Rajan, professor of finance Assistant Professor Lennart Baardman Fellowship of Strategy Assistant Professor Dave Mayer David Hess assistant professor of business and real estate, made headlines for his Professor with Tenure, Professor with Tenure, Julia Lee, assistant professor of Technology economics and public policy; rigorous research approach to prominent Cheng Gao and Operations Management and Business Law of management and organizations, Assistant Professor Organizations Eric Schwartz, assistant professor issues in the rapidly evolving financial Lindred (Lindy) Greer Jun Li was awarded a fellowship with the of Strategy of marketing; and Lindred (Lindy) industry. Poets&Quants recognized Associate Professor Paolo Pasquariello Associate Professor with Tenure, National Geographic Society, one Justin Huang of Management Professor with Tenure, Technology and Operations Greer, associate professor of Rajan in its “Professor of the Week” Assistant Professor of the largest nonprofit scientific and Organizations Finance management and organizations, series for his prolific work researching of Marketing A. Yesim Orhun and educational organizations in Anant Nyshadham Jagadeesh Sivadasan Associate Professor to its annual list of “Best 40 Under the market impacts of bitcoin and other Jeremy Kress the world. Lee will leverage insights Assistant Professor Professor with Tenure, with Tenure, Marketing 40 Business School Professors.” cryptocurrencies. Rajan analyzed Assistant Professor of Business Economics Business Economics in behavioral science to advise of Business Law initial coin offerings and the secondary and Public Policy and Public Policy on global National Geographic market returns of 222 large crypto- James Omartian Scott Page Yue Maggie Zhou campaigns and communications. Assistant Professor Associate Professor currencies over four years, and found Professor of Management of Accounting and Organizations with Tenure, Strategy a large degree of volatility. Heidi Packard Christopher Rider Assistant Professor Associate Professor of Accounting of Strategy Shalena Srna William Thomas Assistant Professor Assistant Professor of Marketing of Business Law PURPOSE-DRIVEN Through action-based learning that encourages students to gain real-world experiences, we develop purpose-driven LEADERS leaders who make a positive difference.

Student of the Year Driving Innovation Big Ten Medal Sonny Khan, BBA ’20, was recognized Michigan Ross alumni are charting the of Honor as Student of the Year by The Michigan future course of business. One example Ross students lead in the classroom Daily for his passion for service is Lesli Ann Mie Agcaoili, MBA ’09, a and on the field. Robbie Mertz, BBA ’19 and using business as a catalyst to staff design quality engineer at Tesla. and co-captain of the 2017 U-M NCAA elevate important social issues. Khan She works with studio designers and Big Ten championship soccer team, co-founded the nonprofit Paani with product engineers, and engages with was awarded the 2019 Big Ten Medal the goal of improving the sanitary automotive suppliers around the world, of Honor — the highest student honor crisis in Pakistan by raising awareness to meet the appearance and design in the Big Ten Conference. Mertz and fundraising for wells, solar panels, intent of Tesla’s expanding product encouraged his team to demonstrate healthcare technologies, and educational lineup. She is committed to helping gratitude, even in losses, based on their resources for youth. Khan also leads develop opportunities for others and experience with Team Impact, a nonprofit other nonprofits that are focused enjoys connecting ideas and people. organization that pairs special-needs on key issues such as increasing An active volunteer with Ross, she children with college sports teams. immunization rates. spoke at a RossTalks event, our series that connects faculty and alumni around the world. REAL-WORLD LEARNING Michigan Ross continues to define the future of business education through industry-leading innovations in action-based learning. Ross Experiences in Action-based Learning (REAL) is the most comprehensive portfolio of action-based learning experiences of any business school and is the foundation upon which the school develops purpose-driven leaders. REAL brings together curricular and co-curricular opportunities that Michigan Ross students have to start, advise, lead, and invest in real-world businesses.

REAL.START REAL.ADVISE REAL.INVEST REAL.LEAD

ZELL LURIE INSTITUTE MAP LIVING BUSINESS LEADERSHIP EXPERIENCE The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Ross’ signature Multidisciplinary Action Projects are the STUDENT INVESTMENT FUNDS As one of the newest additions to REAL.LEAD, the Living From early-stage funds to a fund focused on real estate, Studies is one way students can become involved with most prominent example of a REAL.ADVISE experience. Business Leadership Experience course saw continued growth students gain hands-on experience working with REAL.START. ZLI educates and inspires people to think More than 25 years after its introduction, MAP remains the and introduced new partnerships over the past year. LBLE is real-world investments. and act in ways that create economic and social value. most immersive action-based program of its kind, offering a dynamic experiential education course that gives students Students learn the fundamentals of entrepreneurship, apply students the opportunity to work directly with an organization a unique opportunity to lead high-impact business initiatives their knowledge and skills in real-world projects, and launch to solve a real business challenge. 7 $10M 1ST for various sponsor companies. Students are immersed in startup companies or venture-investing careers. STUDENT- ASSETS UNDER STUDENT-RUN actual business environments where they work closely with MANAGED MANAGEMENT IMPACT INVESTING established corporate partners and senior leaders, and INVESTMENT FUND IN THE 900+ 170+ 35 FUNDS NATION experience the true intricacies of business firsthand. $400K 100+ #1 STUDENTS PROJECTS COUNTRIES FUNDS AWARDED ROSS STUDENT UNDERGRADUATE 10 YEARS OF IMPACT: SOCIAL VENTURE FUND TO ROSS STUDENTS VENTURES SCHOOL FOR 95 6 7 SUPPORTED ENTREPRENEURSHIP BANKING ON MAP Launched at Michigan Ross in 2009, the Social Venture Fund U-M SCHOOLS - PRINCETON REVIEW LBLE COMPANIES HOSTED & COLLEGES Another successful year of MAP brought forth innovative was the first student-led impact investing fund in the country. STUDENTS LBLE PROJECTS REPRESENTED IN 2018-2019 ideas and transformative experiences for the next generation SVF’s goal is to invest in and support innovative companies MICHIGAN BUSINESS CHALLENGE of business leaders. Students partnered with more than 170 that have an emphasis on social and environmental impact. Ten Sanmeet Jasuja, MBA ’18, took home a $2,500 finalist award IMPROVING LOW-INCOME HOUSING companies, including Microsoft Corp., Uber Technologies Inc., years later, Ross MBA and BBA students still manage all aspects for Advanced LIDAR Semantics, a technology company One of the largest providers of affordable housing in the United Marriott International, PepsiCo Inc., and UnitedHealth Group Inc. of the fund’s operations, including sourcing applicant deals, focused on robots, drones, and autonomous vehicles, at the States, NRP Group, received valuable contributions from its LBLE In another notable project, full-time MBA students advised Bank initial screening analysis, due diligence, investment negotiation, 2018 Michigan Business Challenge hosted by the Zell Lurie team. Students executed a social services data collection pilot of America Merrill Lynch. The project team developed a strategy and monitoring of the investment portfolio. Institute. The campuswide business plan competition gives program to survey residents living in Low-Income Housing Tax to increase cybersecurity awareness among the firm’s customers, student teams an opportunity to win more than $100,000 in Credit properties. The team delivered on three focus areas: and presented their recommendations to Chief Operations total cash prizes, gain feedback from business leaders, and business development, data collection, and change management. and Technology Officer Cathy Bessant, BBA ’82. expand their business network. Ultimately, they were able to leverage grant funding to launch the program, identify future growth opportunities, and establish LBLE best practices for how to manage team transitions in the future. 2018-2019 CLASS PROFILES MBA FULL-TIME MBA PROGRAM CREATING CLASS SIZE: 423 LAUNCHING AVERAGE GMAT: 720 WORK EXPERIENCE: 5 YEARS WOMEN: 43% COMPANIES HIRED WEEKEND MBA 321 MICHIGAN ROSS CLASS SIZE: 135 GRADS IN 2018 AVERAGE GMAT: 657 WORK EXPERIENCE: 6 YEARS ACCESS WOMEN: 23% CAREERS EVENING MBA CLASS SIZE: 56 Michigan Ross invests in student success. Through career support, coaching and mentoring, AVERAGE GMAT: 661 internships, and a network of top companies globally, we enable our students to become the WORK EXPERIENCE: 6 YEARS WOMEN: 18% purpose-driven leaders they aspire to be in the careers of their dreams. EXECUTIVE MBA CLASS SIZE: 124 WORK EXPERIENCE: 15 YEARS $34,832,231 WOMEN: 27% Top Hiring Companies in 2018 INDUSTRIES/SECTORS REPRESENTED: 35 COMPANY FULL-TIME ROSS HIRES GLOBAL MBA Amazon...... 64 CLASS SIZE: 38 MANAGERIAL EXPERIENCE: 7 YEARS PwC...... 58 TOTAL 2018-19 MICHIGAN ROSS COUNTRIES REPRESENTED: 9 CONTRIBUTION TO STUDENT WOMEN: 29% EY...... 44 FINANCIAL AID BBA Deloitte...... 28 Michigan Ross invests in student support. With tremendous donor BACHELOR OF BUSINESS McKinsey & Co...... 24 ADMINISTRATION support, we invest in financial aid so thatpurpose-driven leaders SECOND-YEAR CLASS SIZE: 623 Citi...... 21 can study at Michigan Ross no matter their financial situation. IN-STATE: 43% Microsoft...... WOMEN: 37% 18 AVERAGE SAT: 1415 Boston Consulting Group...... 17 MM KPMG...... 14 With your kind donation, I was able to Michigan Ross’ contribution of $34.8m MASTER OF MANAGEMENT JPMorgan Chase & Co...... 13 make my lifelong dream of attending to student financial aid in academic CLASS SIZE: 86 the University of Michigan Ross School year 2018-19 represented an increase AVERAGE GMAT: 648 Goldman Sachs...... 13 of Business a reality. Without you, I would of 10% year-over-year. This aid is WOMEN: 44% Bain & Co...... 13 not be a part of this incredible community shown in our financial statements as of scholars, spending every day delving $20.7m in direct Ross aid as MAcc Google...... 12 into business and exploring my passions. scholarships and fellowships, $1.8m in MASTER OF ACCOUNTING General Motors Corp...... 12 You truly jump-started my career by tuition grants as compensation, and CLASS SIZE: 101 AVERAGE GMAT: 640 allowing me to focus on my education $12.3m in Ross-funded contributions to Accenture...... 12 WOMEN: 52% and extracurricular activities.” the university’s financial aid budget, PepsiCo Inc...... 11 reflected under university assessments. STAV NACHUM // BBA ’19 MSCM RECIPIENT OF THE JANE M. AND Wayfair...... 10 CHESTER R. JONES MERIT SCHOLARSHIP MASTER OF SUPPLY CHAIN MANAGEMENT Walmart...... 10 CLASS SIZE: 29 AVERAGE GMAT: 674 WOMEN: 45% EXECUTIVE EDUCATION , # PARTICIPANTS6624 IN EXECUTIVE EDUCATION RANKED 5 AMONG5 GLOBAL 29NEW CORPORATE PROGRAMS IN ACADEMIC YEAR 2019 EXECUTIVE EDUCATION PROVIDERS PARTNERSHIPS LAUNCHED –THE FINANCIAL TIMES, 2019

Transforming Growth in AlumniAdvantage Global Enterprise Enrollment One of the important ways in which we develop purpose- Executive Education also provides lifelong learning driven leaders is through partnering with organizations support to Michigan Ross and University of Michigan around the world to help them elevate their performance alumni. Academic year 2018-19 marked the three-year and transform in ways that create more value for customers, anniversary of offering Ross alumni full-tuition scholarships employees, shareholders, and communities. Global enterprises to open enrollment programs, and 50% tuition scholarships and local organizations turned to Michigan Ross Executive to U-M alums, through Ross’ AlumniAdvantage program. Education to develop over 6,600 executives in the 2018-19 Participants take new mindsets and skills to some of the academic year. Participants hailed from 59 countries and most important corporations, nonprofits, and government represent some of the world’s leading organizations, including organizations in the world. Amazon, Oracle, General Motors, Saudi Telecom, Bank of America, Walmart, KPMG International, Dow Chemical, MICHIGAN ROSS U-M ALUMNI Mahindra & Mahindra, the NFL, ICBC, and Google. ALUMNI 98 74 73 62 53 46

< ACADEMIC 2017 2017 2018 2018

2019 2019 YEAR POSITIVEWe solve complex problems. Our community of scholars and leaders partners with organizations to solve real-world challenges, generate prosperity, IMPACT and create a positive impact.

Getting the Giving Workers Significant Lead Out a Voice Solutions Professor Eric Schwartz played a critical Groundbreaking research from Through the Tauber Institute role in Flint’s water pipe replacement Professor Achyuta Adhvaryu found for Global Operations, Ross students project. In partnership with the city and that satisfaction and retention improve helped some of the world’s biggest other U-M professors and students, among low-wage workers when they companies solve major issues. This year, Schwartz led efforts to predict which can communicate concerns to our corporate partners estimated that homes were more likely to have lead management. Adhvaryu’s work was the students’ recommendations could in their water lines using data science. conducted in partnership with a save their companies a combined This method of inspecting, identifying, large garment company in India that $575 million. Among the most notable and targeting pipes for replacement experienced high turnover among its projects were reducing carbon emissions could save as much as $10 million. 100,000 workers. Adhvaryu found that and energy costs for Pepsi Co.’s The U-M team also increased project giving these workers a voice through Gatorade processing lines, enhancing efficiency by digitizing more than an anonymous survey reduced both the performance of robotics when 100,000 handwritten public works turnover and absenteeism — and assembling products for Whirlpool, records for the Flint water department. their probability of quitting by and improving customer satisfaction about 20 percent. for General Mills. BUSINESS+ IMPACT The Business+Impact initiative was announced in August 2018, with a goal of making Michigan Ross the most progressive source of ideas and solutions for how business can solve the global challenges of our generation. B+I offers a diverse suite of resources and experiences for people to get involved, connect with other leaders, and together make a positive impact in communities locally and globally. The Ross community is encouraged to gain knowledge through courses, workshops, and symposiums, and to take action by conducting research, volunteering, and collaborating with others on innovative ventures at the new +Impact studio. Ross recently hosted three major events in support of the initiative.

The Future Innovations Business+Impact of Society: that Inspire Challenge: Amazon The Choice In partnership with the Aspen Organized by the Sanger Leadership Institute’s Business & Society Program, Center and sponsored by the Deloitte Business leaders and researchers Ross presented “Working Toward Foundation, the Business+Impact from across the University of Michigan Shared Prosperity,” a dialogue among Challenge is one of the most immersive gathered for a one-of-a-kind inter- academics, business leaders, policy- and collaborative orientation programs disciplinary event called “The Choice.” makers, and nonprofit leaders to translate of its kind among business schools. In a discussion about society’s biggest research findings about employment In this year’s project, corporate partner challenges, Jerry Davis, Michigan and prosperity into useful insights for Amazon challenged more than 500 Ross professor and associate dean for practice. At the event, Aspen honored Ross students in the Full-Time MBA Business+Impact, led a conversation three faculty members for developing and Weekend MBA programs to about how we make the choices that we exceptional courses that inspire and draft a business plan and generate do as a society — by democracy, market, prepare future business leaders to tackle a pitch demonstrating how Amazon hierarchy, or, increasingly, by algorithm global issues: Jerry Davis, associate might leverage its products, services, — and how those choices influence dean for Business+Impact; Andrew and technology in a new way to and contribute to our ability to Hoffman, professor of management and support disaster recovery efforts flourish as a society. organizations; and Chris White, from the and build resilience in communities Center for Positive Organizations. around the world. A YEAR IN REVIEW AUGUST 2018 OCTOBER 2018 NOVEMBER 2018 SEPTEMBER 2018 SEPTEMBER

New Ross Learn, Grow, Unlocking the Alumni Awards Victors for Michigan Passing the Torch Online MBA Summit Power of Creative Catherine Bessant, BBA ’82, and Steven Campaign Michigan Ross introduced Alumni in Percy, MBA ’72, were recognized as Residence, a new mentorship program Ross announced a new Part-Time Dean Scott DeRue led more than 30 Michigan Ross closed a historic Victors Thinking 2018 alumni award recipients for their for current students. Students are paired MBA to be delivered mostly online University of Michigan students on a for Michigan fundraising campaign in an From the catwalk of Paris Fashion Week significant contributions to their with alumni who work in professions beginning fall 2019. The program will seven-day trek to the top of Mount incredible triumph. More than 16,000 to ecosystems that help save bees from professional fields and communities, they wish to pursue, who share valuable uphold the same high-quality curriculum Kilimanjaro, Africa’s tallest mountain. Ross alumni and friends generously extinction, an unconventional talk made and outstanding service to Michigan industry insights and advice to help and rigorous admissions standards as The ascent was part of an action- contributed more than $400 million to its way to Ross for the 2018 Joseph Ross. Bessant is chief operations and them become leaders in their areas traditional Ross programs, using a packed leadership course designed to Michigan Ross — helping us not only Handleman Lecture. Neri Oxman, an technology officer at Bank of America of interest. Recent residencies have flexible design that brings together teach students how to embrace their meet, but exceed our goal. These gifts MIT professor and world-renowned Merrill Lynch. She represents the been held by Ross alumni from Reddit, innovations in digital education and inner leader, make decisions in the face will support four specific areas: student architect, designer, author, and scientist, company on a number of important Discovery Communications, CFI our signature action-based learning. of uncertainty, work effectively as a team, scholarships and outreach programs, brought her brilliant and prolific ideas topics, including diversity and inclusion. Group, and McKinsey & Co. Positive press from several national and manage and negotiate conflict. engaged learning experiences, faculty to the stage in a discussion about her Percy serves as the leader in residence at media outlets continues to surface, research, and campus improvements. unique creative process, known as the the Cleveland-Marshall College of Law including a highlight from Forbes on Krebs Creativity Model. at Cleveland State. Percy is also active in how the program promises to shift the business world, holding member- the B-school marketplace and the ships, chair posts, and advisory positions entire industry of digital education. on various boards and committees. BBA Rises in Leadership in India Honorary Paton Unraveling NFL Business Wellness Week the Rankings Michigan Ross hosted more than 30 Fellow Awards Hard Truths Boot Camp Students launched the first-ever educators from India for a weeklong Wellness Week at Michigan Ross, The Ross Bachelor of Business Ross alumni Eddie Hall III, BBA ’09, Ross welcomed two prominent Michigan Ross hosted 30 current training session as part of a new which included a suite of events and Administration program “catapulted” and Gordon Krater, MAcc ’10, were educational leaders, author and scholar and former NFL players, including academic leadership program series. initiatives focused on helping students up nine places on Poets&Quants’ list recognized as the 2019 recipients Tim Wise and Detroit principal and U-M alumni Delano Hill, Maurice Ross was chosen from among several build healthy and balanced lives. of the “Best Undergraduate Business of the Honorary Paton Fellow awards writer Julia Putnam, to deliver the 33rd Hurst, and Christopher Wormley, top-tier business schools to help Programming was designed to give Schools.” Ross earned the fourth spot for their lifetime contributions to the Annual Reverend Martin Luther King Jr. for its fourth annual NFL Business develop the program. Participants students the tools and techniques to in the nation based on performance accounting industry and service to Symposium keynote lecture, supported Academy. Led by Ross faculty, visiting attended several workshops and help them manage anxiety and stress, across three indicators: admission Michigan Ross. by the William K. McInally Memorial business leaders, and NFL veterans lectures about best practices in while simultaneously creating a space standards, student experience, Lecture Fund. The duo “unraveled” currently in corporate roles, the academic governance, technology to take a break from their typical and career outcomes. personal bias, discrimination, and other four-day business program included disruption, student engagement, and MBA routines. social fabrics that “strangle” some a range of courses, discussions, and innovation in teaching techniques. populations — like racism and classism. action-based learning experiences Wise and Putnam also discussed anti- designed to help players improve racism initiatives, and how traditional their business and entrepreneurship education practices can sometimes skills outside of football. work counter to a just and inclusive community. DECEMBER 2018 DECEMBER 2019 JANUARY MARCH 2019 MAY 2019 APRIL 2019

PhD Student’s Living Business Commencement Positive Business Award-Winning Lecture at Award-Winning Community Celebrations Conference Podcast: Business Pan-Asia Idea for Digital Michigan Ross announced a new Crisler Center filled with more than 1,500 The halls of Michigan Ross were alive Beyond Usual Approximately 125 Ross alums residential community for Ross BBAs graduates and their families ready to with energizing ideas at the 2019 Positive attended the 2019 U-M Pan-Asia The Michigan Ross MBA student Advertising that will bring together like-minded make note of their accomplishments. Business Conference. The theme Alumni Reunion in Hong Kong. podcast, Business Beyond Usual, Michigan Ross PhD student Prashant students onto a single floor of a The featured speaker was FUBU “Well-Being at Work” addressed how Dean Scott DeRue facilitated a won two Communicator Awards Rajaram won the best paper award at residence hall during their first year CEO and ABC’s “Shark Tank” investor stress-filled workplaces create employees discussion on how technology and of Distinction from the Academy the 2019 Haring Symposium at Indiana on campus. This new Living Business Daymond John, who told students, who lack purpose and become digital business are reshaping how of Interactive and Visual Arts. The University for his streaming industry Community is designed to help students “The only thing that costs more than disengaged. The two-day event we live, work, play, and educate in an first Award of Distinction from AIVA research. Rajaram took a deep look at gain a deeper understanding of the goals education is ignorance.” He encouraged included interactive panel discussions, increasingly global and virtual world. honored the podcast as a whole in how to develop an optimal advertising and values of a Michigan Ross education. students to make learning a priority: keynote presentations, and a fireside Pan-Asia is an annual event that the Educational Institution category. schedule that maximizes exposure on They will also connect with their cohort, “Continue to do your homework. Keep chat between Dean Scott DeRue and celebrates our alumni and donors in The second award honored a specific free streaming platforms like YouTube, explore new interests in a co-curricular your learning goals instead of your Consumers Energy President and CEO the region, and is open to all U-M episode, “Mental Health in Business Dailymotion, and IMDb Freedive. setting, and prepare themselves to earning goals.” John has devoted much Patti Poppe on ideas for building alumni, family, and friends. School.” Launched in 2016, the podcast apply their learning to a complex of his career to supporting entrepreneurs, high-performing workplaces. offers listeners a unique and authentic and diverse world. and his businesses have generated over look at life as an MBA student and $6 billion in global retail sales. member of the Ross community. THE BUSINESS OF THE BUSINESS SCHOOL MICHIGAN ROSS UNIVERSITY OF MICHIGAN RANKED #4 AMONG IS THE #1 PUBLIC UNIVERSITY ALL BUSINESS SCHOOLS IN THE NATION FOR THE IN THE AMERICAS 6TH YEAR IN A ROW

FINANCIAL TIMES QS WORLD UNIVERSITY THE ROSS RANKINGS

THE MICHIGAN ROSS MBA RANKED #7 IN THE WORLD THE MICHIGAN ROSS AMONG FULL-TIME MASTER OF MANAGEMENT BRAND MBA PROGRAMS RANKED #1 IN THE U.S. THE ECONOMIST QS WORLD UNIVERSITY The University of Michigan is one of the most globally recognized and respected universities. Our RANKINGS brand stands for excellence, integrity, and a commitment to the public good. It is also the foundation upon which we stand as Michigan Ross, one of the leading business schools in the world. Our brand reinforces the academic excellence that is synonymous with Michigan Ross, and helps us continue to evolve and contribute to the greater good in all that we do. This common identity is the

foundation of our community of leaders, researchers, and lifelong learners who create innovative THE MICHIGAN ROSS THE MICHIGAN ROSS solutions to the world’s most complex business challenges. MASTER OF SUPPLY CHAIN EXECUTIVE MBA MANAGEMENT RANKED #2 RANKED #6 IN NORTH AMERICA IN THE U.S. CROSS-CHANNEL SOCIAL MEDIA STRONG GROWTH IN ROSS-PUBLISHED WEB CONTENT ENGAGEMENT RATE MICHIGAN ROSS NEWS/BLOG VIEWS 2014-2018 GARTNER U.S. NEWS & WORLD REPORT JULY 1, 2018 – JUNE 30, 2019 0.44%

600,000

400,000

#1 IN SOCIAL MEDIA ENGAGEMENT THE MICHIGAN ROSS 200,000 AMONG U.S. BUSINESS BBA RANKED #3 THE MICHIGAN ROSS SCHOOLS IN THE U.S. AMONG PART-TIME MBA PROGRAM JULY 2018 – JUNE 2019 UNDERGRADUATE BUSINESS RANKED #6 IN THE U.S. 0 PROGRAMS U.S. NEWS & WORLD REPORT 0.19% 0.19% 0.19% 2017 2015 2018 2016 2014 U.S. NEWS & WORLD REPORT

Total social post interactions for each post on all platforms ROSS FACULTY EXTENSIVELY QUOTED per follower 0.075% 0.064% 0.043% 0.039% 0.034% 0.033% THE MICHIGAN ROSS 0.026% MICHIGAN ROSS 0.023% 0.019% MASTER OF ACCOUNTING EXECUTIVE EDUCATION 5,101 30% 6,626 RANKED #1 AMONG TOTAL MEDIA GROWTH TOTAL MEDIA RANKED TOP 5 MENTIONS IN MEDIA MENTIONS MIDSIZED PROGRAMS GLOBAL PROVIDER YEAR ENDING MENTIONS YEAR ENDING ROSS HASS DUKE TUCK STERN SLOAN JUNE 30, 2018 JUNE 30, 2019 BOOTH

DARDEN PUBLIC ACCOUNTING REPORT FINANCIAL TIMES KELLOGG HARVARD WHARTON COLUMBIA STANFORD Consolidated Statement of Revenues, Expenses, and Changes in Net Position

Tuition and fees constitute 74% of the school’s current fund Revenues from executive education activities and our revenues. Gross tuition and fees grew by 4.7% in 2019. conference center totaled $23.4 million for the year ending Changes in tuition and fee revenues are summarized below: June 30, 2019, representing a 6.7% decrease from last year. The decrease was primarily due to reduced demand in Asia. (IN $ THOUSANDS) 2019 2018 FINANCIAL The results of fundraising appear in two places in the Undergraduate $62,274 $58,906 Full-Time MBA 51,208 49,510 consolidated statement of revenues, expenses, and changes Weekend MBA 15,702 13,729 in net position. Donations directed to the endowment and Executive MBA (Ann Arbor) 12,013 10,095 investment income appear in nonoperating revenues. Executive MBA (Los Angeles) 6,483 5,415 Endowment fund revenues and expenses in 2019 are Evening MBA 5,808 5,525 summarized below: MAcc 4,944 4,685 Global MBA 4,642 4,577 (IN $ THOUSANDS) 2019 HIGHLIGHTS MM 4,093 3,862 Net investment income $28,079 Doctoral 2,811 2,967 New gifts to endowment 16,462 Michigan Ross’ financial position is strong, with total assets of $900.9 million and MSCM 2,160 4,089 Income distribution to operations (19,343) Application fees 1,016 1,155 Change in non-current pledge accrual (6,358) total liabilities of $150.3 million at June 30, 2019, compared to total assets of $871.5 Tuition and fee adjustment (950) (7) Adjustment 1,382 million and total liabilities of $157 million at June 30, 2018. Net position, which represents $172,204 $164,508 $20,222 the residual interest in the school’s total assets after liabilities are deducted, totaled $750.6 million and $714.6 million at June 20, 2019 and 2018, respectively.

Changes in net position represent the school’s results of operations and are summarized for the years ended June 30 as follows:

(IN $ MILLIONS) 2019 2018 Current fund revenue $197.9 $192.4 Private gifts for operating activities 34.2 28.9 TOTAL INCREASE IN NET POSITION ($220.9) ($212.2) Increase in net position from current fund activities 11.2 9.1 Endowment, capital assets, and student loan revenues, net 24.8 51.2 TOTAL INCREASE IN NET POSITION $36.0 $60.3

Note: The financial statements are presented using GASB guidelines and Donations that are not directed to our endowment, in million surplus in these funds due to careful management modified accruals. The financial statements are unaudited. addition to endowment investment income distributions, of expenses. This operating surplus was used to fund $4.7 appear in current fund revenues. These gifts and endowment million of investments, including the new Online MBA investment income totaled $34.2 million in 2019, up from Program; capital improvements, including renovation of two $28.9 million in 2018. This increase is primarily due to new cash floors of the Executive Residence to create the new +Impact Consolidated Statement of Net Position gifts, which totaled $15.2 million for the year ending June Studio and a more modern and functional hotel lobby and 30, 2019, representing an 89% increase compared to last year. cafe; and IT infrastructure upgrades to our classrooms. Total cash, cash equivalents, and investments for operating included exterior improvements designed to provide a activities totaled $70.8 million at June 30, 2019, which unified look and feel to all of the buildings in our complex. Cash gifts including gifts to endowment totaled $31.7 As highlighted earlier, the school’s net position increased million and $25 million in 2019 and 2018, respectively. by $11.2 million from current fund activities. After removing represents approximately four months of total current fund The school continues to benefit from the continued noncash adjustments, this represents $12.1 million of available expenses, excluding depreciation. success of the university’s long-term investment strategy, In 2019, we budgeted an operating surplus of $4.7 million cash. Of this amount, $3.7 million is unrestricted and $8.4 Excluding accumulated depreciation, the school’s total capital as evidenced by strong returns over sustained periods in our general and designated funds in order to invest in million of the total is restricted in purpose and consists assets grew by $11.3 million in 2019. This growth is primarily of time. The school’s endowment earned $28.1 million in new academic innovations, faculty and research initiatives, of gift and sponsored research funds. due to the completion of a $10 million capital project, which investment income during 2019. and our facilities and IT infrastructure. We achieved an $8.4 CONSOLIDATED STATEMENT OF NET POSITION CONSOLIDATED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION FOR THE FISCAL YEAR ENDED JUNE 30, FOR THE FISCAL YEAR ENDED JUNE 30, ASSETS (IN $ THOUSANDS) 2019 2018 ASSETS (IN $ THOUSANDS) 2019 2018 CURRENT ASSETS Cash and cash equivalents 70,841 55,985 CURRENT FUND REVENUES Tuition & fees 172,204 164,508 Accounts receivables, net 5,412 7,715 Executive education and conference center 23,424 25,105 Prepaid expense, other 64 96 Gifts and investment income 34,231 28,862 Current portion of notes and pledges receivable, net 8,459 9,129 Research & other 2,200 2,768 TOTAL CURRENT ASSETS 84,776 72,925 TOTAL CURRENT FUND REVENUES 232,059 221,243

NONCURRENT ASSESTS Student loan invested funds 1,505 1,562 CURRENT FUND EXPENSES Salaries and benefits 106,320 103,402 Endowment investment 509,637 483,057 University assessment and support, net 52,725 47,222 Capital assets, net 250,498 253,167 Operating supplies & other 36,177 35,280 Notes and pledges receivable, net 52,963 59,321 Scholarships and fellowships 20,731 18,430 Artwork 1,499 1,499 Facilities & equipment 4,912 7,826 TOTAL NONCURRENT ASSETS 816,101 798,605 TOTAL CURRENT FUND EXPENSES 220,864 212,160 TOTAL ASSETS 900,878 871,530 NONOPERATING REVENUES Endowment and capital gifts and grants 20,222 55,409 (EXPENSES) AND OTHER LIABILITIES AND NET POSITION Net change in capital activity 4,350 (2,955) CURRENT LIABILITIES Accounts payable 2,055 1,663 Student loan service 260 (1,233) Salary and benefits payable 2,768 2,506 TOTAL NONOPERATING REVENUES AND OTHER, NET 24,832 51,220 Deferred revenue 1,730 1,652 NET POSITION Change in net position 36,026 60,302 Current portion of debt owed to university 6,030 6,695 NET POSITION, BEGINNING OF YEAR 714,577 654,275 Deposits of affiliates and other 225 299 NET POSITION, END OF YEAR 750,603 714,577 TOTAL CURRENT LIABILITIES 12,807 12,815

NONCURRENT LIABILITES Obligation for student loans 1,787 2,104 Facilities debt owed to university 134,805 140,835 Other facilities liability 875 1,199 TOTAL NONCURRENT LIABILITIES 137,467 144,138 TOTAL LIABILITIES 150,275 156,953

NET POSITION TOTAL NET POSITION 750,603 714,577 TOTAL LIABILITIES AND NET POSITION 900,878 871,530 2.4.18. GRAPHIC PANELS

18 2.4.32. GRAPHIC PANELS

2.2.31. BLUE TINTED VINYL

LOUNGE AREA ELCC FINAL CONCEPTS BUILDING MICHIGAN ROSS BRAND ACCENT 32 2.2.12. BLUE TINTED VINYL BRAND ACCENT

AN ICONIC MICHIGAN ROSS 31 2.4.37 BREAKROOM DOOR VINYL

14 37 CAMPUS 2.2.27. BLUE TINTED VINYL BRAND ACCENT 12 The Michigan Ross campus is a contemporary and collaborative learning community designed to inspire • Updated rendering with furniture — “LBLE “porch” • Sans lettering creativity, teamwork, and motivation. Renovations and additions help us carry out our vision of a unified • Note that this wallpaper is textured—all 2D design applications must be backed by an additional acrylic substrate or sheet metal MICHIGAN ROSS business campus — a functional and flexible space ready to meet the needs of the Michigan Ross community 13 both today and tomorrow. 2.4.10. NUMEROLOGY DISPLAY Over the past year, we completed exterior work on Wyly Hall and added distinctive cladding to our parking structure to enhance the cohesive appearance of the campus. We also have several projects underway 10 BISTRO ENTRANCE ELCC FINAL CONCEPTS 2.1.8. “GO BLUE” DISPLAY that will shape our campus life for years to come and ensure our students have a true 21st-century 27 2.2.14. BLUEBRAND learningTINTED environment. ACCENT VINYL

11 28 2.1.9. LOUNGE GRAPHIC 2 Executive Learning and Conference 2.2.13. BLUEBRAND TINTED ACCENT VINYLCenter Renovations

Ross facilities are better HOTEL LOBBY 710 EAST CAFÉ BISTRO AREA ELCC FINAL CONCEPTS FRONT ENTRANCE LBLE/+IMPACT STUDIO FINAL CONCEPTS aligned with the mission of the State-of-the-art renovations An all-new café will feature school when our community has will create pristine accomodations delicious Zingerman’s sandwiches access to spaces that encourage for our guests. The new space and coffee — a great place to study, collaboration, innovation, and will support leaders in executive connect and collaborate, or enjoy 8 learning outside the classroom. education, part-time MBAs, and a well-deserved break. 9 2.5.11. ALUMNI QUOTEOur recent updates GRAPHIC to the our corporate recruiters. LIVING BUSINESS BOARDROOM campus create flexible learning +IMPACT STUDIO SPACES LBLE/+IMPACT STUDIO FINAL CONCEPTS +IMPACT STUDIO An updated, modern space for environments that can be adapted An interactive space for the Ross students working in action-based and updated over time as community, businesses, and other learning teams to connect and MICHIGAN ROSS we introduce innovations in strategic partners to work together to collaborate with partner companies business education. develop practical business solutions and business executives. to solve complex problems. 6

BISTRO AREA ELCC FINAL CONCEPTS

LOUNGE AREA ELCC FINAL CONCEPTS 2.2.28. BLUEBRAND TINTED ACCENT VINYL

2.1.6. LOUNGE GRAPHIC 1

COLLEGE OF BUISNESS2 FUNDRAISING HIGHLIGHTS Thanks to the extraordinary dedication and generous support of donors, Michigan Ross exceeded its $400 million Victors for Michigan campaign goal. Gifts enable Michigan Ross to invest and elevate the school’s impact in four key areas: student support and scholarships, transformational learning experiences, bold ideas and thought leadership, and campus enhancements.

58% OF GIFTS WERE $100 OR LESS. $ YOUR SUPPORT IS VITAL , TO THE MISSION AND ALUMNI16 AND FRIENDS900 OF MICHIGAN ROSS GAVE PROSPERITY OF M 415RECEIVED IN DONATIONS TO THE SCHOOL DURING THE CAMPAIGN OUR SCHOOL. (2013-2018)

$ $ M M 135CAMPUS ENHANCEMENTS 94STUDENT SUPPORT (FACILITIES) (SCHOLARSHIPS)

BREAKDOWN OF GIFT ALLOCATIONS $ M $ 123ENGAGED LEARNING M 63BOLD IDEAS (PROGRAMMING) (RESEARCH / FACULTY DISCRETIONARY SUPPORT) REGENTS OF THE UNIVERSITY EXECUTIVE OFFICERS OF THE Kallie Bila Michels OF MICHIGAN UNIVERSITY OF MICHIGAN Vice President Jordan B. Acker Mark S. Schlissel for Communications Huntington Woods President Ravi Pendse Michael J. Behm Thomas A. Baird Vice President Grand Blanc Vice President for Development for Information Technology and Chief Information Officer Mark J. Bernstein Sally J. Churchill Ann Arbor Vice President and Secretary Martin A. Philbert of the University Provost and Executive Paul W. Brown Vice President Ann Arbor Rebecca Cunningham for Academic Affairs Interim Vice President for Research Shauna Ryder Diggs Marschall S. Runge Grosse Pointe Debasish Dutta Executive Vice President Denise Ilitch Chancellor, for Medical Affairs University of Michigan-Flint Bingham Farms Cynthia H. Wilbanks Ron N. Weiser Domenico Grasso Vice President Ann Arbor Chancellor, for Government Relations University of Michigan-Dearborn Katherine E. White Ann Arbor E. Royster Harper Vice President for Student Life Mark S. Schlissel ex officio Kevin P. Hegarty Executive Vice President and Chief Financial Officer Timothy G. Lynch Vice President and General Counsel

Stephen M. Ross School of Business University of Michigan 701 Tappan St. Ann Arbor, MI 48109-1234 michiganross.umich.edu

NONDISCRIMINATION POLICY STATEMENT The University of Michigan, as an equal opportunity/affirmative action employer, complies with all applicable federal and state laws regarding nondiscrimination and affirmative action. The University of Michigan is committed to a policy of equal opportunity for all persons and does not discriminate on the basis of race, color, national origin, age, marital status, sex, sexual orientation, gender identity, gender expression, disability, religion, height, weight, or veteran status in employment, educational programs and activities, and admissions. Inquiries or complaints may be addressed to the Senior Director for Institutional Equity, and Title IX/Section 504/ADA Coordinator, Office for Institutional Equity, 2072 Administrative Services Building, Ann Arbor, Michigan 48109-1432, 734-763-0235, TTY 734-647-1388, [email protected]. For other University of Michigan information call 734-764-1817.