THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley Nonprofit Organization Haas School of Business US Postage 545 Student Services #1900 PAID Berkeley, CA 94720-1900 Portland, OR Permit NO. 2917 BerkeleyHaasFall 2014 12 TRAVEL FORECASTER 3 RECORD BREAKING 22 AN ENDURING LOVE FOR CAL The legacy of the late Ralph Bahna, MBA 65, An unprecedented number of women join Celebrating the life of Dean Emeritus ripples throughout the travel industry full-time and executive MBA classes Earl F. (Budd) Cheit 1995 · 2000 0 · · 20 99 05 1 · · 2 5 0 8 1 9 0 1 · · 2014 Business 2 0 0 8 April 23-26 1 Leader of the Year 9 4 1 MBAMBA REUNIONREUNION WEEKENDWEEKEND Green Power Player Stuart Bernstein, BS 86, of Goldman Sachs shakes 2015 up investment banking with his passion for clean energy and Relive the best of your MBA experience! the environment Catch up with classmates, listen to engaging lectures, make new connections, and bring your family back to campus. Everything you loved about getting your MBA—with no exams. HAAS.BERKELEY.EDU/REUNION Fall 2014 FEATURES AND DEPARTMENTS The Question the Status Quo Issue EXECUTIVE EDITORS Richard Kurovsky UP FRONT Ute Frey MANAGING EDITOR Amy Marcott DESIGN Cuttriss & Hambleton, Berkeley STAFF WRITERS Laura Counts, Kim Girard, Pamela Tom 2 Haas List Haas celebrates a record CONTRIBUTING WRITERS percentage of women MBA Edmund Andrews, John students. Deever, Mandy Erickson, Elaine Larsen, Kathleen 4 Haas News Maclay, Dan Mitchell, Dean Rich Lyons on the power Marguerite Rigoglioso, of the Berkeley-Haas brand. Nate Seltenrich 6 Power of Ideas Prof. John Morgan on entre- PHOTOGRAPHY preneurs and risk taking. Noah Berger, Jim Block, Michael A. Fullana, IN THE BACK Kaung Htet, Joe Larese, Jeremy Stanford, Felix Uribe ILLUSTRATOR Richard Mia At age 46, successful Goldman Sachs investment banker Stuart Bernstein, BS 86, shifted his career BerkeleyHaas magazine is focus from high finance to promoting clean energy and slowing climate change—despite market published by the Haas School conditions that seemed unfavorable to such a move. Goldman Sachs has dominated clean-tech of Business, University of deal making ever since. page 8 California, Berkeley. For further information, contact: BerkeleyHaas 14 8 Green Power Player Your Haas Network Magazine Editor Stuart Bernstein, BS 86, the Haas School’s Business Leader of the Year, Alumni from the Democratic Haas School of Business has questioned the status quo his entire career. As managing director and Voice of Burma, Yahoo!, the University of California partner at Goldman Sachs and global head of the firm’s clean technology Fistula Foundation, PBS and Berkeley, CA 94720-1900 and renewables and venture capital coverage groups, he’s proven that what’s YouTube video channels, BerkeleyHaas Fall 2014, good for the environment can also be profitable. Banyan Nation, and the Miami-Dade Corrections and Number 87. Rehabilitation Dept. For change of address, email 12 Travel Forecaster 18 Campaign for Haas [email protected]. Finance trailblazer Margo The late Ralph Bahna, MBA 65, the founder of Club Quarters and former Alexander, BS 68, helps chairman of Priceline.com, has been awarded the Haas School’s Leading Haas craft its vision for Through Innovation Award in recognition of his pioneering advancements social impact. in the travel industry as well as his revolutionary vision that continues to influence the Berkeley-Haas curriculum. 20 Worldwide Events The >play Digital Media Conference. 22 An Enduring Love for Cal 24 Alumni Notes Berkeley-Haas would not be what it is today were it not for Dean and Profes- 39 In Memoriam sor Emeritus Earl F. (Budd) Cheit, who passed away in August. His foresight, 40 Personal View compassion, and determined grasp of what a business school could be ush- Laurie Peterson, MBA 11, ered in the school’s growth and modernization. He was also a pioneer in the shares how she’s built a study and teaching of the impact of business on society. startup without VC funding. Cover photograph by Noah Berger Fall 2014 1 Haas List MBA 3 Shattering Undergrads Alumni Transforming Lean In, written by Facebook COO Sheryl Sandberg. Students Healthcare Records Dream UC Berkeley is one of only Undergrads seven top schools nation- 4Alumni It’s a banner admissions year for Game Changers wide offering cognitive Leaning Fulfilled computing courses using Men of Steel women in Berkeley MBA programs. In October, the In Incoming full-time MBA students It may have taken Hugh D. IBM’s Watson supercom- 5 More than Williams more than 70 years to ceremonial final steel 1 puter. Solomon Darwin, 50 Berkeley-Haas included a record 43 percent women. earn a UC Berkeley degree, but at age 101, he finally beam was placed atop executive director of the 8 Eshleman Hall, the new undergraduates headed The 241 new students in the class did it. Williams received the diploma in September, Garwood Center for Corpo- student union complex to Silicon Valley Sept. surrounded by his family at the senior complex in rate Innovation, is teaching were chosen from an applicant pool on Lower Sproul Plaza. 18 to be part of an Cupertino, Calif., where he lives. “Open Innovation, Lever- All of the steel for the exclusive live audience with one of the highest percentages Williams was attending UC aging IBM Watson” with Ad- project—support beams, with Facebook Chief of women ever, says Stephanie Fujii, Berkeley when World War II started. junct Associate Research handrails, and the Operating Officer Sheryl A physical issue prevented him Prof. Donald Wroblewski. assistant dean of the Full-time MBA like—was supplied by Sandberg, author of from joining the military so he took The 24 undergraduates Program and Admissions. The Execu- Hayward-based Glazier the NYT bestseller Lean a job in a machine shop supporting craft new healthcare appli- Steel, co-owned by Tom In. The live webcast tive MBA program admitted a record the war effort. He married a fellow cations for Apollo Hospi- Glazier, BS 04. Rick Liu, covered how Berkeley- UC Berkeley student, the late tal Group, Asia’s largest 31 percent women to its class this BS 05, is CFO. “When I Haas students could Ardell Rademacher, and continued healthcare organization. year, compared to a national market- working as a machinist to support bring Lean In to campus Hugh D. Williams High-level IBM executives and why Lean In Circles place average of 15 percent. And the his family. He never graduated. shepherd the four teams, work for peer support. Evening & Weekend class nudged A UC Berkeley advisor told Williams that if he one of which will compete Sandberg also shared close to a record number of women petitioned to graduate, the university would probably for $100K. “I want students career advice and grant it, but he never did. Some months ago, Williams to realize that with these explained why today’s with 28 percent, up from 26 percent confided to his daughter that he regretted not digital tools they are capable students have the last year. Haas leaders, admissions pursuing his degree. So his daughter contacted of addressing one of society’s potential as a generation and program staff, faculty, and stu- Barbara Felkins, assistant director of academic grand challenges—global to reach true equality. affairs for the undergraduate program. Felkins healthcare—by building dents have made it a priority to im- found the microfiche of Williams’s transcript and disruptive business models prove gender balance at added it to the current campus database. Using the for emerging markets,” Haas Awards the school. Dean Lyons requirements published for the class of 1941–1942, says Darwin. High she determined that Williams had completed his Oakland A’s General Manager Billy Beane and NY Mets General Manager Sandy Alderson. was among a group of Honors degree requirements. History was made for the 14 top business school centenarian. MBA 6 Cardinal Oakland A’s legends Billy Beane and Sandy Health CIO Patty leaders who visited the Alderson surprised 241 full-time MBA students Morrison received the White House earlier during orientation week to discuss how their use Global third annual Fisher- this year to outline best Faculty of advanced data transformed baseball talent Hopper Prize Sept. 18 Challenge for lifetime achievement practices for cultivating management—a feat immortalized in the Two Evening & Weekend Rising Star Rick Liu, BS 05, CFO of Glazier as a CIO. The prize is women leaders. 2Berkeley MBA students have been awarded by the Fisher Michael Lewis book (and later movie) Moneyball. Steel, and Tom Glazier, BS 04, Assistant Professor “[General] managers thought for a long time that shortlisted in a competition to help the VP and co-owner. CIO Leadership Program 7 Sameer B. Srivastava British nonprofit World Child Cancer at Haas. Her 30-year 9has been awarded a Schwabacher we couldn’t bring some of the principles used in (WCC). The pair are among 40 students applied to Haas, I wrote career includes IT Fellowship, the highest honor Haas real estate or financial business to baseball,” on seven finalist teams in the Financial in my essay how I wanted leadership roles at bestows on assistant professors. Times MBA Challenge, which seeks to make a mark on the Motorola, Office Depot, The award is intended to recognize Alderson said. “Moneyball caused a revolution Sameer B. Srivastava among owners.” Moneyball details how Beane business plans for the long-term Bay Area skyline through and Pepsi Co., spanning up-and-coming faculty stars sustainability of WCC’s programs in the company that was industries including and includes a small cash award, used scientific analysis to assemble a team of developing countries.