Fall/Winter 2005

McDonoughBusinessgeorgetown university Mr. Donn Dolce B’67 Mr. Daniel J. O’Connor Richard Migliori Senior Vice President, Paine Webber Investments President and CEO, Paragon Computer CEO, United Resources Network Professionals Joan Migliori Mr. James Eisenstein B’80 Chairman and CEO, Optasite, Inc. Mr. Warren Olsen B’78 Peter Pritchard Chairman and CEO, First Western Investment CEO, Pritchard Industries, Inc. Mr. Alfred J. Fisher, III B’70 Management Zohreh Pritchard President, Fisher and Company VP of Human Resources Mr. Gregory Palmer Mr. Lawrence P. Fisher, II B’82 CEO, Remedy Temp Jeffrey Rodek Managing Director & Senior Resident Officer, Executive Chairman, Hyperion Solutions, Inc. Bessemer Trust Company Mr. Charles Palmer B’64 Christine Rodek Leadership Managing General Partner, North American Mr. Michael R. Fisher B’80 Company, LLP Thomas Siebert James J. O’Donnell President, Fisher Dynamics Corporation Attorney, Patton Boggs, LLP Provost Mr. Wayne C. Plewniak MBA ’85 Mr. Christopher P. Franco B’81 Debbie Siebert Managing Director, Neuberger Berman, LLC George G. Daly President, Rock Point Investment Partners Director of Business Development, Dean Ms. Elaine Pochtar B’79 NEWgame Communications Hon. J. Richard Fredericks B’68 Executive Director, Institutional Fixed Income David L. Garrison Chairman, Dionise Capital, Inc. John Surma Sales, Morgan Stanley Associate Dean and Director Undergraduate President and CEO, United States Steel Corp. Mr. Jacques P. Gelardin B’69 Programs Mr. Michael Psaros B’89 Becky Surma Principal, Geladrin & Co., LLC Managing Principal, KPS Special Situations Melissa Trotta Ronald Tysoe Mr. Bernardo Giacometti B’77 Funds Assistant Dean, Director of MBA Evening Vice Chairman, Federated Department Stores, Inc. President, Kipany Brazil Program Mr. David Reyes L’82 Arleigh Tysoe Ms. Carol A. Grefenstette B’78 President, Harbor Distributing, LLC Keith Ord Robert Wall Managing Director, Strategic Investment Group Dean of Faculty Mr. Chalres F. Sarkis B’62 Managing Director, Goldman Sachs & Co. Virginia N. Flavin Mr. Saadadeen R. Hariri B’92 President and CEO, Back Bay Restaurant Beatrice Wall President, Hariri Foundation Group, Inc. Chief of Staff Thomas Wattles Cynthia S. Shaw Mr. Mike E. Heisley, Sr. B’60 Mrs. Ann Misiaszek- Sarnoff B’83 Chairman and CIO, Dividend Capital Trust CEO, Heico Acquisitions Joan Wattles Thomas Director of Communications Mr. Raymond Schuville Linn Donaldson (IEMBA’98) Mr. Michael Heisley, Jr. B’86 Managing Director, JP Morgan Private Bank Steve Wolf Chief Financial Officer Executive Vice President, Heico Companies JP Morgan Securities, Inc. President, Snowjam Michelle Wolf Mr. Peter W. Henderson, Jr. B’81 Mr. Eric Small B’76 Michael T. Boyd Legal Counsel, Partners HealthCare System, Inc. Director of Development Vice President, Bank of America President and CEO, Brooks Investment Corporation Robert P. Johnson Mr. James F. Higgins B’70 Director of MBA and IEMBA Alumni Senior Advisor, Morgan Stanley Mr. John Spirtos IEMBA’00 SVP,Corporate Development, Neustar Programs and Volunteer Board Relations Mr. Paul J. Hill B’67 John H. Carpenter President, Harvard Development, Inc. Mr. Thomas T. Stallkamp Volume 18 Number 1 Vice Chairman and CEO, MSX International Chief Technology Officer Mr. William Hoefling Managing Partner, CEO, Chrystal Pond Ms. Joan Steel B’75 Editor Board of Advisors Capital Partners Senior VP,Personal Investment Mgmt. Capital Guardian Trust Company Cynthia S. Shaw chair Mr. George R. Houston B’61 Director of Communications President Emeritus, Mount Saint Mary’s College Mr. Marc Sulam B’84 Mr. John J. (Hap) Fauth, B’67 Hedge Fund Manager, Healy Circle Capital President and CEO, The Churchill Companies Mr. Lee C. Howley B’70 Contributing Writers President, Owner, Howley Bread Group Mr. Timothy Tassopoulos MBA’83 vice chair Senior Vice President Operations, Chick Fil-A Alan Dessoff, Joelle Santolla (CCT’06), Mr. Arlen Kantarian B’75 Robert Wong, Martha Patnovik (MBA’06) Mr. Robert Steers B’75 Chief Executive, United States Tennis Association Mr. Michael Todman B’79 Chairman, Cohen & Steers Capital Executive Vice President, Whirlpool Corp. Mr. Kenneth Kencel B’81 Editorial Assistance Mr. Joseph Amato B’84 Chief Executive Officer, Churchill Financial Mr. Charles M. Trunz, III B’75 Head of Global Equity Sales, Lehman Brothers Corporation COO, NS-LIJ Health System Joelle Santolla, Lauren Shevchik (CCT’06), Andrea Sarubbi Ms. Doreen Amorosa B’79 Mr. Gerard M. Kenny B’71 Mr. Edmond Villani B’64 Director, Talent Acquisition Avaya, Inc. President, The Kenny Partners Vice Chairman, Deutsche Bank Mr. James Atwater B’85 Photography Mrs. Lisa Kleinknecht MBA’99 M. John Vitalo B’90 Cynthia S. Shaw, Joelle Santolla, Lauren Managing Director, Ryan Beck & Company Principal, Kleinknecht Electric Company Managing Director, Barclays Capital Shevchik, Bharat Pamar, Ralph Alswang, Mr. William Robert Berkley, Jr. B’95 Mr. Raymond E. Knape F’53 Mr. Stanley Wood IEMBA’96 Lisa Helfert, Jon Golden, Phil Humnicky, Senior Vice President, Specialty Operations, W.R. President, Integrated Business Info. Sys., Inc. Berkley Corp. Fr. Daniel K Lahart, SJ. B’83 Cable Risdon, Lars Tray President, Strake Jesuit College Preparatory Ms. Alison Blood-Lohrfink B’81 Parents Advisory Council School Designer Mr. Robert Bowlin B’78 Mr. Jonathan R. Lynch B’88 Robert Cotter Nancy Van Meter President, Retired, Sony Music International Partner, JP Morgan Partners Investment Banker, Deutsche Bank Susan Cotter Mr. James Buckley Mr. John Maier MBA’86 Spencer Stuart Consulting Cover Design Managing Director, Legacy Parnters Group, Lloyd Cunningham CreatiVerge Communications, Inc. Mr. Mark J. Casella B’80 LLC President, Cunningham, Burke, & Brooks Susie Cunningham Partner, PriceWaterhouse Coopers, LLP Mr. Philip A. Marineau C’68 Consultant, Conference Consultants Printing Ms. Emily Chen Carrera B’88 President and CEO, Levi Strauss & Co. Matthew Farrell PeakeDeLancey Printing Mr. Timothy B. McBride L’75,’80 Mr. Michael Chasen MBA ’95 CFO, Alpharma, Inc. Chairman and CFO, McBride Enterprises (NJ) CEO and Co-founder, Blackboard, Inc. Colleen Farrell Mr. David F. McBride B’69 McDonough Business welcomes inquiries, Ms. Michelle C. Cherrick B’89 Clinton Gartin Managing Director, Wachovia Securities CEO, McBride Enterprises opinions and comments from its readers. Vice Chairman, Morgan Stanley Correspondence should be addressed to: Mr. Jerome J. Claeys, III B’65 Mr. John A. McCrane C’49 Karen Gartin CEO and Chairman, Heitman Capital President, Arlandia, Inc. Bruce Hall The Editor Management Mr. Robert E. McDonough F’49 Executive VP and COO, PETCO McDonough Business Mr. Michael Connelly B’74 Founder and Vice Chair, Remedy Intelligent Susan Hall Managing Director, The Carlyle Group Staffing The Robert Emmett McDonough Michael Jordan School of Business Fr. William McInnes, SJ. Retired Chairman/CEO, Mr. Denis P. Coleman, Jr. B’67 Georgetown University American Consul to Bermuda American Chaplain, Boston College Westinghouse/CBS Corp Hilary Jordan Box 571147 Consulate General Mr. C. Allen Merritt, Jr. B’62 Executive Recruiter, Cecil Associates Washington, DC 20057-1147 Mr. Peter Crnkovich B’78 Partner, Boston International Woody Knopf Managing Director, Morgan Stanley Ms. Lorraine Montero F’68 phone (202) 687-4080 Chairman, MM Knopf Automotive/ Remy, Inc. Mr. Alberto de la Cruz B’89 Managing Director, CitiGroup International fax (202) 687-2017 Claire Knopf email [email protected] President, Coca-Cola PR Bottlers Mrs. Ellen Morrell B’66 Michael Lewicki web www.msb.georgetown.edu Vice President and Principal Broker, Sotheby’s Mr. William H. Diamond, Jr. MBA’83 Private Investor International Realty CEO, XRadia Joanne Lewicki Mrs. Patricia Mulvaney-Pignataro B’81 Alumni should send address Mr. William Divane B’64 Max Lukens Partner, Price Waterhouse Cooper, LLP changes/additions/deletions to Chair and CEO, Divane Brothers Electric Chairman and interim CEO, Company Mr. Robert B. Nolan B’74 Steward & Stevenson [email protected], CEO, Executive Managing Director, BMO Chris Lukens contact Alumni Records at Private Equity Group (202) 687-1994, or update at www.georgetown.edu/alumni. Fall/Winter 2005

McDonoughBusinessgeorgetown university

Features

George Daly Named New Dean 18 Capital Markets Firms 23

George Houston Inside back cover Departments

Letter From the Dean 2 Corporate Profile 26 Dean George Daly Friedman Billings Ramsey (FBR)

Professor Pietra Rivoli Upfront 3 Dividends 28 page 13 Building Progress Faculty Awards In the Media 11 Faculty, Students and Alumni Cited in the News Alumni Connections 29

Intellectual Capital 14 Alumni Notes 30 Rebecca Heino Professor Ken Homa page 16 Alumni Profiles 31; 36 Faculty News Steve Paluszek (B’79) David Chavern (IEMBA’03) Faculty in Focus 16 Ken Homa Bellwether George Houston (B’61) Prospectus 17 Professor Brooks Holtom Shocks as Causes of Turnover page 17

On the cover: Dean George Daly

McDonough Business is published twice a year. The magazine is distributed free of charge to more than 17,000 alumni, students, parents, faculty, staff and other friends. The diverse views in the magazine do not necessarily reflect the opinions of the editor or official policies of Georgetown University or the McDonough School of Business. welcome calendar

Fall/Winter 2005

December MBA Exams

January Classes Resume

16 Martin Luther King, Jr. Holiday

February Dear Friends, 20 President’s Day

It is a great honor to have been selected as the Dean of the McDonough School at Georgetown. It is also a great opportunity. March 3-13 Spring Break During the summer and much of the fall semester I have spent a good deal of time learning about the School and meeting with April alumni, faculty, staff and students. These meetings have made 12-18 Easter Break clear to me that we need to develop a coherent plan for our future and then take the steps necessary to make that vision a reality. May 1 Classes End In order to initiate and drive this process, I have appointed a Task Force on Strategic Priorities. The Task Force has identified several 19-22 Commencement Weekend key objectives: June ■ The creation of a clear and distinctive vision for the School. 1-4 Reunion Weekend

■ The review, revision and creation of educational programs that incorporate that vision. Check the school’s online calendar of events at ■ The attraction, development and retention of the human http://msb.edu/newsroom for daily event listings and other resources necessary to realize that vision. when the spring semester begins.

As we advance in the planning process, I will update you on the progress we have made and will look forward to your reactions and suggestions. What is clear is that change must be and is underway. Bringing about constructive change is a primary obligation of leadership and it is what I hope and plan to bring to our School.

Sincerely, George G. Daly, Ph.D. Dean

2 McDonough Business upfront

September 29. The panel included Catherine Kinney, co-COO, president and executive vice chairman of the New York Stock Exchange and Doreen Woo Ho, president of Wells Fargo Consumer Credit Group. Both events were moderated by McDonough School professor of Management Dr. Catherine Tinsley, who also serves as executive director of GUWLI.

Anne Jones Named Director Melissa Trotta Named Assistant of Career Management Dean of MBA-EP

Anne Jones was named director of career Melissa Trotta was appointed assistant dean management for the MBA program. Jones of the MBA Evening Program. Trotta comes to the McDonough School of Business completed her B.A., summa cum laude in from Citigroup, where she spearheaded Communications and a Master of Arts in campus recruitment and the development of Higher Education Administration at Boston training programs. As vice president and College. She comes to the McDonough director of human resources management School of Business having most recently associate program, Jones increased diversity served as assistant dean of the Franklin W. Students and Panelists Visit after GUWLI Event. recruiting, began a new e-learning curriculum Olin College of Engineering, in Needham, PHOTO: LISA HEFFLERT PHOTOGRAPHY and solidified relationships with top MBA MA. Before moving to the Olin School, programs. Prior to her executive position at Trotta was associate director of MBA New Faculty Members Citigroup, she worked in marketing and Academic Affairs at the Harvard Business product development with Citi Cards and School. Her previous experience also Georgetown University’s Robert Emmett was marketing manager for Acoustiguide includes serving as director of admissions McDonough School of Business has Audio Tours. the John F. Kennedy School of Government recruited new faculty scholars in finance, at Harvard University and as associate management, marketing and accounting. “We are delighted to have Anne join our director of undergraduate admissions at Finance professors Srinivasan “Srini” team,” said Marilyn A. Morgan, associate Brandeis University, Waltham, MA. Sankaraguruswamy and George Panayotov, dean and director of the Georgetown MBA marketing professor Gary J. Bamossy, program. “This is a very exciting time for our Georgetown University’s Women’s strategic management professor J. Muir program. Anne’s vision and leadership will Leadership Initiative Macpherson and accounting professor Vicki help to move our career management Tang have joined the School. operation to the next level of excellence.” The Georgetown University’s Women’s Leadership Initiative (GUWLI) hosted Srini comes to the McDonough School of “My experiences at Citigroup provided an panel speakers Janet Friedman, president Business as a visiting associate professor of exposure to many MBA programs, and and CEO of HarperCollins Publishers; finance. Previously he served as assistant Georgetown’s students always stood out as Nancy Evans, Co-founder of iVillage; and professor at the National University of intelligent, confident and professional,” said Suzanne Clark, COO of the U.S. Chamber Singapore. He taught at Georgetown as an Jones. “These positive experiences lead me of Commerce at its annual Distinguished assistant professor from 1996-2003. Srini to jump at the chance to become part of such Speaker Series in Riggs Library. received his Bachelors of Commerce from a successful team here at the McDonough Osmania University in India, his Masters of School of Business. I am excited to be here The panelists discussed their paths to Commerce from Delhi University in India and can’t wait to get started working with success and took questions from the and his Ph.D. in Accounting with a minor students and helping them meet their audience. Panelist Nancy Evans said, “The in Finance from Purdue University. career goals.” intimacy of the setting made for a dynamic, engaging interaction between the panel and George Panayotov is a new tenure track the audience.” assistant professor of finance. He recently completed his Ph.D. in finance from the GUWLI hosted a second distinguished speaker event in Copley Formal Lounge on

McDonough Business 3 University of Maryland’s R.H. Smith basketball Coach John Thompson, III Business School. He received his Integrated presented an executive policy seminar in Masters of Science in mathematics from New York. The text of each seminar can be Sofia University in Bulgaria. At the found on the Center website University of Maryland, George taught www.msb.edu/faculty/research/capital_markets. courses in options and futures and In September, the Capital Markets Research commercial bank management. Center hosted its annual “Careers in Capital Garry J. Bamossy joins the faculty as a Markets” event. Over 300 undergraduate visiting marketing professor. He received his students attended the presentation by Ph.D. in Business Administration and speakers from companies including Marketing from the University of Utah, Citigroup, Credit Suisse First Boston, where he is currently the director of the Deloitte & Touche, Friedman Billings Global Business Program. He has taught at Ramsey, Goldman Sachs & Co., Legacy the David Eccles School of Business at the Partners, Merrill Lynch, and Promontory Mayor Anthony Williams opens his present University of Utah since 1999, and teaches from CMRC. Financial Network. At the reception as an adjunct professor of marketing at the following the panel discussion, students Vrije Universiteit in Amsterdam. enjoyed the opportunity to speak individually Capital Markets Research Center with recruiters from the various companies. J. Muir Macpherson is a new tenure track Update assistant professor of strategic management. The McDonough School of Business’s He received his Ph.D. in management from Capital Markets Research Center (CMRC) David Walker Returns to Teaching, the Wharton School of Business at the hosted a forum to examine the role of Lynn Doran takes over CMRC University of Pennsylvania in 2004. He capital formation in professional sports and attended the University of California at After 17 years community development at The George Berkeley where he received a B.A. in as founding Town Club. political economy of industrial societies. He director of the has taught as an assistant professor of The return of baseball to Washington, DC Capital Market management at the University of Texas at after 33 years, paired with the Research Center, Austin since 2002 and at the University of redevelopment of the neighborhood around David Walker Pennsylvania since 1997. the MCI Center and the construction and has returned to expansion of FedEx Field, created a timely his regular Vicki Tang joins backdrop for this discussion of facility and faculty activities the faculty as a franchise issues that affect urban as the John Largay Professor to focus new tenure track development and capital formation in major on research and teaching. David has assistant professor league sports cities. published two books, authored or of accounting. She co-authored over 50 scholarly papers, received her The forum included several distinguished presented research and testified before Ph.D. from the guest speakers who contributed their the U.S. Senate Committee for Banking, Ross School of practical, experience-based knowledge. They Housing and Urban Affairs. Business at the included: The Hon. Anthony A. Williams, University of Michigan, her Masters in Mayor, Washington, DC; Jerry Reinsdorf, Associate professor of the practice Lynn Economics from the University of Illinois Chairman, Chicago White Sox; Allen R. Doran, who specializes in investments and her Bachelors in Economics and Sanderson, Department of Economics, and corporate finance, is the new English from Peking University. She has University of Chicago; Tony Tavares, director of the CMRC. As a professor of been a lecturer in accounting at the President, Washington Nationals; Peter corporate finance and investments at University of Michigan since 2003. Bisché, CFO, Washington Wizards; both the graduate and undergraduate Governor Edward Gramlich, Board of levels, as well as being the parent of Governors of the Federal Reserve; and a McDonough School alumnus, she is McDonough School of Business Dean extremely well versed in our external George Daly. business and student activities. The Capital Markets Research Center also hosted “Inside the Fed: A President’s View,” which was David Walker’s final Washington seminar as center director. The keynote speaker was Anthony M. Santomero, president of the Federal Reserve Bank of Philadelphia. The following week, Georgetown men’s

4 McDonough Business upfront Global Integrative projects included both large, global firms like 3M and Proctor & Gamble and much smaller local or family- owned organizations. Case Competitions: Business Strategy Challenge and State The MBA class of 2005 took part in a Department Case Competition global integrative in Prague, Czech Republic, where they observed the differences in The Business Strategy Challenge, held at Czech and American organizational Georgetown University and sponsored by the structures. The students recognized the McDonough School of Business and Hilltop difficulties of creating an organization that Consultants, gave teams three days to prepare appealed to both styles. The students were recommendations for a case focusing on given hands-on experience working with strategy development for United Way various companies, like the Hewlett-Packard International, a local non-profit organization. s.r.o., a subsidiary of Hewlett-Packard’s The “World Wide Strategists,” made up of Europe, Middle East, and Africa group. four Georgetown students, won the case competition and the $400 grand prize. The Board of Advisors Meetings From left to right: Wall Street Alliance Co-Chairmen Stephen J. Paluszek (B’79), James F. Higgins (B’70), winning students were Sean Doran (B’05), A joint meeting of the Board of Advisors Victor R. Write (Parent), William P. Frank, Esq. (C’63), Victoria Cheng (B’06), Matthew Ichinose and the Parents Advisory Council was held John D. Wooters, III (C’75). (B’05) and Abhyuday Prashad (B’05). last spring. Its theme was “Transforming the McDonough School: New Leadership, New The Task Force on Strategic Priorities MBA International Residencies Facilities, New Academic Programs and a established by Dean Daly met prior to the The Global Integrative Experience was held New University Campaign.” Guest speakers Board of Advisors meeting to offer specific in Shanghai for MBA 2005 students from included Rev. William McInnis, S.J., former suggestions, questions and ideas on the March 12 to March 19. The week included president of Fairfield University, the University critical priorities of the next ten years. The tours of the Shanghai Urban Planning of San Francisco and the Association of Jesuit two-day meeting ended with a mentoring Exhibition Center, the Bao Shan Iron & Colleges and Universities, and Alan Berson, lunch that paired the Board of Advisors with Steel Co., Ltd., the Samsung Electronics president of Pulse Point, Inc. The second MBA and undergraduate students. Plasma Screen Television Factory and the Parents’ Council meeting of the year was Volkswagen Plant. held in conjunction with Parents’ Weekend Wall St. Alliance in October. Georgetown MBAs were welcomed by the The Board of Advisors Executive Shanghai Jiao Tong University, took a The second Board of Advisors meeting of Committee Meeting was held on June 23, Huangpu Cruise with local students and the year was held in September. The theme 2005 at the Major League Baseball Offices enjoyed a performance by the Shanghai of the meeting was “Preparing for the Future: with host Tim Brosnan, executive vice Acrobat Troupe. They also had time built Planning for the McDonough School’s Next president, Major League Baseball (C’80). into the schedule for sightseeing. Decade.” The reception was hosted by Matters discussed included a Gala Update, Georgetown University President John J. Alliance General Events, Mentoring The MBA class of 2006 went to Ho Chi DiGioia with a formal introduction of Dean Program, and the Five-Year Planning Minh City in Vietnam, the city with the George Daly. Committee. The meeting was led by fastest-growing economy in Asia. The Chairman Jim Higgins. The Board of Advisors of the Wall Street Alliance hosted a presentation by Charles O. Rossotti (C’62), senior advisor to the Carlyle Group and the former commissioner of the Internal Revenue Service.

McDonough Business 5 First Ever MBA-Evening Program Residency

A full cohort of sixty students met at the William F. Bolger Center in Potomac, Md., for the first ever residency for the MBA Evening Program of the McDonough School of Business. Guest speakers included Atish Gude of Sprint Nextel and Brian Fontes of Cingular. The students relaxed and had fun John Delany of CapitalSource offers his keynote during yoga class and a volleyball tournament. address at CX 2005. Kenneth May, COO of FedEX-Kinkos and The residency lasted five days and was part Careers Extravaganza Professor John Mayo. of an integrative, intensive first exposure to the MBA program. The students competed John Delaney, co-founder, chairman and in a wireless services case competition and chief executive officer of CapitalSource were divided into five teams that represented Financial, was the keynote speaker at the five different companies with a stake in the Careers Extravaganza (CX) lunch hosted by debate: Verizon, Cingular, Sprint/Nextel, the McDonough School of Business Career Alltel, and U.S. Cellular. The first-year MBA Management Office. Delaney is the head of students studied these firms and their roles one of the leading commercial finance firms in the industry, formed alliances with other in the U.S., and operates through the three teams, and presented their strategies in a focused business units of corporate finance, competitive manner to the entire group. structured finance and healthcare finance. CapitalSource Financial (NYSE:CSE) has The goal of the residency was to integrate a market capitalization of approximately these students with the McDonough School $2.7 billion. of Business and Georgetown University. FedEx Express CEO David J. Bronczek and Even though the program is part-time, the Careers Extravaganza is a one day event that Professor John Mayo new associate dean of the Evening Program, consists of panel discussions among senior- Melissa Trotta, is focused on making the level executives and is attended by the entire MBA Orientation and students feel like an essential part of the first-year class and many second-year students. Opening Residency School of Business, and cultivating Topics discussed included Financial Services, relationships with staff, professors and fellow International Development and Emerging The MBA Class of 2007 was brought students that otherwise would not be formed Markets, Strategy and Consulting, General together for an on-campus kick-off on in a part-time program. This networking did Management, Marketing and Corporate Friday, August 19. The day included a not only occur in the classrooms at the Finance Treasury. welcome from the new dean, George Daly, Bolger Center. The students also took part in Some of the organizations that took part in and presentations from faculty members and yoga classes and a volleyball tournament, current MBA students. The group discussed Careers Extravaganza were: Citigroup, during which they were able to learn more Goldman Sachs, Merrill Lynch, Wachovia, issues such as cultural differences, the Jesuit about each other outside of the academic tradition at Georgetown and team dynamics. Booz Allen Hamilton, 3M, World Bank, realm. Marriott International, Gallup and After the Orientation Day at Georgetown, Friedman Billings Ramsey. the students went to the National Conference Center in Lansdowne, Va., for a residency entitled, “Understanding International Business: FedEx Corporation Case Competition.” Guest speakers included David J. Bronczek, president and CEO of FedEx Express and Kenneth A. May, COO of FedEx-Kinko’s. The residency also allowed for the students to mingle and get to know each other, offering a square dance session and a student vs. faculty volleyball game. First ever MBA-EP class meeting at the opening Professor of the Practice Gary Blemaster addresses residency. the students gathered for CX 2005.

6 McDonough Business upfront MBA students go to AOL Students in Betsy Sigman’s Electronic Commerce class visited AOL headquarters in Dulles, VA in April. The visit was part of the AOL Partners in Education Program. The Partners in Education Program included 350 students and showcases student consulting projects and Project Infusion, a training program that brings in faculty- nominated MBAs as AOL employees. Sigman said, “This was a wonderful opportunity for our students; they have been working on AOL-related projects, and will Lance Armstrong speaks at Tour of Hope Finale. now have the chance to present these projects Jet Blue Chairman and CEO David Neeleman. to top AOL executives. I was extremely proud The team showed their dedication to raising of how well our students did.” awareness of patient enrollment in clinical Business Day/Parents’ Weekend Last year, the panel included the inventor of cancer trials by signing up more than 50 Parents’ Weekend was held from October AOL Instant Messaging, David Gang. cyclists, who each raised at least $500 for a 21-23 on Georgetown University’s campus. Some of last year’s class even went on to total of over $25,000 towards cancer research. The weekend gave parents an opportunity to work at AOL. The Bristol-Myers Squibb Tour of Hope is meet with faculty, administration, and a nine day bike ride from California to business leaders. The weekend also gave Team MBA and the Tour of Hope Washington, DC, by a team of 25 cyclists students and parents a chance to explore the whose lives have been touched by cancer. The The McDonough School’s Net Impact Tour culminated in Washington, DC, where study abroad opportunities offered through joined together with the Graduate the McDonough School of Business. our MBAs joined the cause. The biking Management Admissions Council (GMAC) portion of the DC tour was unfortunately Business Day, held on October 22, included to create Team MBA. Team MBA is a group rained out, but the event took place in the faculty seminars, the Business Leader of the of current MBA students, alumni, friends, JW Marriot Ballroom. They succeeded in Year award and the Parents’ Week Lunch. This and family from around the world who raising awareness about the disease and year’s Business Leader of the Year was David signed up to bike in Bristol-Myers Squibb’s supporting the Lance Armstrong Foundation. Neeleman, chairman & CEO of JetBlue Tour of Hope on Saturday, October 8th. As Airways Corporation. Neeleman launched one of the nation’s most active and involved For more information about next year’s ride, JetBlue in February of 2000, making it his chapters, Georgetown MBAs were visit www.msb.edu/student/teammba. third successful aviation business. approached by GMAC to partner in the establishment of an MBA team for this Dr. Joseph Guzman named The Parents Council Meeting corresponded year’s Tour of Hope. Georgetown Acting Director of the Defense with Parents’ Weekend, and was held at the University’s Lombardi Comprehensive Department’s Biometrics Four Seasons hotel in Georgetown. Cancer Center and MedStar Health were Management Office local sponsors of the Baltimore to Dr. Joseph Guzman, an assistant professor Washington, DC ride. at the McDonough School of Business, has been named acting director of the Defense Department’s Biometrics Management Office. “Since joining the DOD Biometrics, Dr. Guzman has been instrumental in orchestrating key relationships with government agencies. His leadership is critical as the U.S. military brings technology to the war fighter and supports efforts in the global war on terrorism,” said Maj. Gen. Conrad Ponder, chief integration officer for the Army CIO/G-6 in an article that appeared in Government Computer News. Dr. Guzman formerly served as

Rory Donohoe, Jessica Shattuck, Leslie Payne, and senior policy economist working at the Ian Sims (all MBA’06) are part of Team MBA. Center for Naval Analyses Corp.

McDonough Business 7 The third symposium was entitled The panel entitled “Innovations in “Workplace Health Protection and Microfinance” was moderated by Rhonda Promotion: What Will it Take to Do Both Schaffler of the UN Capital Development Well?” The panelists included John Howard, Fund and included Robert Annibale, director of the National Insitute for director of Citigroup’s office of microfinance Occupational Safety and Health; Greg and director of Citigroup Foundation, USA; Wagner, visiting professor from the Harvard Steven Bernstein, senior advisor of the School of Public Health; Michael Gondek Office of International Affairs, US Treasury; of the Dow Chemical Company; Peter Michael Eber, program officer of the Hayes of Hannaford Brothers Company; Grameen Foundation; and Ivan Mancilla, Ron Finch of the National Business Group human resources director, Financiera on Health; Laura Welch of the Center to Compartamos. Protect Workers’ Rights; and Catherine The closing address was given by Her Royal Professors John Mayo, right, and Lamar Reinsch, Gordon, senior public health advisor. center, speak with a conference attendee. Highness, Princesss Mathilde of Belgium, Emissary to the International Year of MicroCredit Conference Microcredit. Georgetown Hosts Workplace McDonough School of Business Net Impact Safety Conference “Microfinance is an innovative, dynamic, up partnered with the McDonough School of and coming financial sector business concern. The Center for Business and Public Policy Business Microenterprise Development For this reason, students and young hosted a three-part series on workplace Association of Georgetown University professionals are a driving force behind a safety and health. The first symposium was (MEDA) and the United Nations to host groundswell of international action for the entitled “The Relationship Between Firms’ the Microfinance Conference. 2005 was the Year of Microcredit,” said Christina Barrineau, Safety and Financial Performance: Theoretical Year of Microcredit for the UN. chief technical advisor for the Year at the and Empirical Evidence.” Panelists included The opening address was given by Elizabeth UN Development Programme. “The energy Devra Golbe of Hunter College; Elyce Littlefield, the executive director of and newness of thinking that young people, Biddle of the National Institute for Safety Consultative Group to Assist the Poor like those at Georgetown, bring to tackling and Health; Phil Lews, vice president and (CGAP). “This is an excellent opportunity the hurdles that stand in the way of poor director of environmental health safety and for students in various disciplines to come people receiving quality financial services, sustainable development at Rohm and Hass; together and learn about an issue of global can and is changing the world.” and Dave Eherts, executive director of importance,” said Reena Aggarwal, former environment, health and safety at Purdue interim dean of the McDonough School of Phara. Business, “I am pleased that Georgetown is The second symposium was entitled able to host this event and look forward to “Interpreting ‘Near Misses’ and Management: the ideas and discussions that come from What We Know and What We Need to this forum.” Know.” The speakers included General Ken The panel entitled “Challenges in Hess (USAF, retired) of the Anteon Microfinance” was moderated by Tom Easton, Corporation; Carolyn Merritt, chairman of senior editor of The Economist, and included the National Chemical Safety Board; Ulku Asli Demirguc-Kunt, the finance research Oktem, adjunct associate professor at the manager and advisor at the World Bank; Wharton School of Business at the University Charles Riemenschneider, director of the of Pennsylvania; and Professor Cathy Tinsley North American liaison office, Food and of the McDonough School of Business. Agriculture organization of the United The conference refers to the concern that in Nations; Matthew Speh, capital management this competitive environment, the ability to investment officer at MicroVest; and interpret operational data in an unbiased Lawerence Yanovich, director of policy and way may be affected; this could lead to technical assistance, Foundation for managerial “near miss biases.” The International Community Assistance. Her Royal Highness, Princess Mathilde of Belgium conference achieved its goal of bringing together professionals from the policy, corporate and academic worlds for a dialogue about workplace safety in this competitive environment.

8 McDonough Business upfront MBA Diversity Day participants, and is attempting to coordinate a group visit to another African country. McDonough School of Business celebrated The Consortium will also take part in its second annual Global Diversity Day, Georgetown International Week and a Beta Gamma Sigma which highlights the diversity of the school thematic dinner. New board members will through food, cultural displays and The National Scholastic Honor Society in be chosen at a meeting in March for the demonstrations. the field of business and administration, next academic year. Beta Gamma Sigma, inducted its 22nd class The Real Estate Club has been reactivated. at Georgetown. It seeks to attract people with diverse The local chapter award was presented to interest, passion and experience in real estate David W. Danjczek, corporate vice president in the business school community to of compliance and ethics at the Titan educate, share resources and help build Corporation, who also served as the careers in the industry. Current membership inducting officer. Sixteen seniors and in the club is about 40 people. The club is fourteen juniors, as well as ten IEMBAs and planning a Real Estate Day, which will be forty-eight MBAs were inducted into the open to all students in Georgetown and society. other business schools in the metro area. Activities will include a presentation on how The faculty inductee was James Moore, to build a career in real estate and a seminar president and founder of Ameritrade, Inc., McDonough students enjoy authentic Japanese on real estate investments. former assistant secretary of commerce for food served by our Japanese students. Trade Development and adjunct member of Planned speakers and presenters are the McDonough School of Business faculty. Rankings Update seasoned veterans with enormous knowledge of the real estate market and diverse Career Treks The McDonough School of Business went backgrounds in REITs, Real Estate Finance, from number 49 to number 48 in The Commercial Real Estate Investment, Students with interest in career opportunities Economist’s poll of full-time MBA programs, Mortgage Backed Securities (MBS) from in specific geographic locations signed up for and the school also maintained its current Fannie Mae, Ernst & Young and other three to five day trips to various locations status in the Wall Street Journal poll, going renowned institutions. shortly after the fall semester began. from number 36 to 38. The IEMBA Organizers worked with members of the th program was ranked 10 in the world by McDonough School of Business MBA Career Management Office to target BusinessWeek Executive MBA 2005 survey. Mentoring Program ideal companies and to schedule alumni US News & World Report ranked the networking events in the area. undergraduate business school 26th in the The Mentor The “treks” are: country and 11th for International in the Program met on September 16 London Trek, October specialty rankings. and was hosted Barclay’s Capital, Citigroup, Grosvenor by Joseph Calizo, Funds, Goldman Sachs and JP Morgan. New Student Clubs assistant dean of Wall Street Trek, October McDonough School of Business GALA the McDonough AIG, Bank of New York, Bear Stearns, (Gay and Lesbian Alliance) was formed after School of Business, Cohen & Steers, Deutsche Bank and several class of 2007 MBA students found David Garrison and David Federal Reserve Bank. that, unlike most other top MBA programs Garrison, associate dean and director Marketing Trek (NY), October in this country, Georgetown did not have a of Undergraduate Programs. Kimberly American Express, Colgate, L’Oreal, Pepsi student organization dedicated to serving the Malcolm, the mentor program coordinator, and Warner Brothers. needs of the Gay, Lesbian, Bisexual and facilitated a discussion on enhancing the Transgender (LGBT) community. Miami Trek, December Mentor Program with regard to the Citigroup, Lehman Brothers and Sol The MBA African & Middle Eastern professional development of the students. Melia Hotels Consortium is another new club and has Following the meeting, the 25 mentors were invited to meet with the 150 student CalTrek, January 36 members. The group hosted a panel mentees currently enrolled in the program. Intel, JP Morgan and Yahoo! discussion about the investment environment in the Middle East and Africa, and the Madrid Trek and Japan Trek are also effect of the political and demographic planned during break week in March. transformations that have occurred during the last decade. The MBA African & Middle Eastern Consortium held a welcome meeting for the Johannesburg Integrative

McDonough Business 9 Discussion and Launch of Book on Student Wins Mastercard McDonough School Launches History of Prayer in America Internship New Website

Lauinger Library at Georgetown University McDonough School of Business student The McDonough School has worked for hosted McDonough School of Business Sarah Alexander (B’08), won the Mastercard over a year on the Website redesign. The site Professor James P. Moore, Jr. to discuss his Priceless Music Internship in Los Angeles, will serves as a primary marketing and new book and upcoming PBS film, “One California. She is one of twelve winners communications tool for the School, and Nation Under God: The History of Prayer chosen from over 40,000 applications. Her offers a visually appealing, easy-to-navigate in America.” summer internship lasted twelve weeks: four site for its multiple audiences: prospective of which were spent in Los Angeles learning students, corporations, alumni, faculty/staff, Consortium Events band management and promotion, and then media, current students, etc. We’re very eight weeks touring with the Vans Warped excited to unveil this to the community and Georgetown MBA students have been out Tour®. To read more about the Mastercard look forward to continually evolving the site and about this fall, visiting various Priceless Internship program, visit to reflect the new era of the McDonough consortium events. Large groups attended http://www.mastercard.com/us/specialoffers/ School. Let us know what you think of the the National Society for Hispanic MBAs priceless_experience_2005. site. Email [email protected]. Career Conference and National Black MBA Conference, where over 300 Comparative Business companies were in attendance supporting Summer Session Hiring? Think Georgetown. diversity efforts. The MBA Career Management team hosted workshops to The McDonough School of Business and If you are recruiting for internships or prepare the students and traveled with them the Office of International Programs, along full-time positions, hire a Hoya. for on-site support as well. Our students with the Business School at the Chinese For MBA students contact the were also well represented at the Women University of Hong Kong, organized a five MBA Career Management Center at MBAs Conference in Boston and the Net week summer session in comparative (202) 687-3741 or Impact Conference in Palo Alto. business with a focus on the Asia-Pacific www.GeorgetownMBAcareers.com. market. The courses will be taught by For undergraduates, contact members of the faculty at the Chinese J. Michael Schaub in the MBNA Career University of Hong Kong. The students will Education Center at also take part in cultural and social (202) 687-3493 or excursions during their stay in Hong Kong. [email protected].

Professor Recognized for Outstanding Presentation at IRS Forums

Distinguished Teaching Professor Thomas B. Cooke has been recognized by the Internal Revenue Service for his service to the tax professional community. For the third consecutive year, Professor Cooke lectured at each of the IRS’s Nationwide Tax Forums. The Nationwide Tax Forums are Professor Lynn Doran offered to CPAs, Enrolled Agents, Attorneys and tax return preparers. The Lynn Doran Receives Grant 2005 Forums were held in San Francisco, McDonough School of Business Professor Houston, Atlanta, New York City, Las Vegas of the Practice Lynn Lanz Doran was and Chicago. awarded a $38, 800 grant on behalf of the During the 2005 program, Professor Cooke’s Capital Markets Research Center at presentations focused on the subjects of Georgetown University. The grant was Ethics-Professional Responsibility and the awarded by the Economic Assessment Tax Code Provisions Affecting Higher Office of the Advanced Technology Education. The 2005 attendees (12,000+) Program of the National Institutes of awarded Professor Cooke with an overall Standards and Technology (NIST), and will rating of 94.9%. be used to fund research papers on capital markets by faculty members of the McDonough School of Business.

10 McDonough Business inthe media highlights

A study published by Professor Lines’ financial predicament. Associate Professor Michael R. research firm, was mentioned in Brooks Holtom in the Human Dahiya says “It’s a little bit like Czinkota prepared a statement a Washington Post (5/30/2005) Resource Management Journal holding a tiger by the tail, for the Honorable Donald H. article about her candidacy for a was featured in a Globe and Mail because GE and American Manzullo, chair of the House position in Virginia’s 45th (9/10/2005) article. The study Express are kind of stuck with Business Committee on House District. was used as a supplement to the Delta...The game right now for Freedom and International Anne Jones article about the reasons people Delta is to wait out this spike in Marketing (5/9/2005). Czinkota participated in leave their jobs. This study was fuel prices for the next two has also served as a guest writer a Q&A for a also mentioned in Business quarters while negotiating an for The Japan Times (4/23/2005) Business Week Spotlight’s December magazine extension in covenants.” for an article about academic Online issue. The comments of freedom and how trade Professor (6/20/2005) Professor Holtom were quoted frameworks are not designed for Douglas article about her role as the in Aviation Week & Space the university environment. He McCabe was McDonough School’s new Technology (5/16/2005) on Delta wrote another article for The quoted in a career management director and Air Lines’ need to find a buyer Japan Times (5/25/2005) about Voice of America the importance of spreading the for its subsidiaries, Comair and computers replacing university (3/28/2005) word about her students to top Atlantic Southeast Airlines. He libraries and the effect this will article about corporate ethics. recruiters. says that if Comair and ASA have on future student On the topic of whether are sold, “I don’t think you’ll see education, and an additional The Dean George Daly was featured modern executives are greedier, a sweetheart deal...[Delta] will Japan Times (9/1/2005) article in a Financial Times (6/20/2005) McCabe responded saying, be looking for the highest about the current state and article about his appointment to “Absolutely not...Corruption is bidder, the person who thinks underperforming nature of dean of the McDonough School no more greater now or less than he can manage it best and Germany. Czinkota is quoted in of Business. Dean Daly was also 2000 years ago. It just seems that produce a return for the an article for The Dallas featured in a Business Week way, because of the instantaneous shareholders.” He was also Morning News (9/18/2005) (6/23/2005) article about his response of the media.” quoted in Aviation Week & Space about the success of U.S. new position along with Technology (6/28/2005) on Professor companies going abroad and Professor Paul Almeida and airline expansion, stating that William Droms being less dependent on the Provost James O’Donnell’s role “typically you are going to take was quoted in a home market for growth and in the selection process. An the best markets first and each Bloomberg profitability. He states, article in The Georgetown Voice new city is probably slightly less (April 2005) “Globalization is not just U.S. (8/25/2005) described Dean profitable”. Professor Holtom magazine article companies being able to source Daly as the new face of the was interviewed on ORF about international investing. As abroad, but also others being business school who hopes to Channel 2 (3/7/2005) (Austrian a member of Droms Strauss able to purchase from us.” construct a compelling and

Television Broadcasting Advisors in St. Louis, he Adjunct Professor Marc distinctive identity for the Corporation) during a story developed a questionnaire for school in coming years. George Sherman was quoted in a about American reactions to the client risk-assessment, and Washington Post (5/25/2005) Daly and Net Impact President Leslie Payne firing of Boeing CEO Harry states that 30 percent is about article as the lead investigator were mentioned in Stoneciphe. the optimal proportion of a from Huron Consulting Group, a Kansas City InfoZine stock portfolio that should be (6/24/2005) article about a new Professor Bennet Zelner was Inc. in a Prince George’s invested internationally. report that explains how to interviewed on a Channel 4 News County case. Schools chief improve business ethics. Dean At Five (3/11/2005) television Catherine Tinsley and Robin Andre J. Hornsby is accused of Daly states, “Corporate ethics segment about President Bush’s Dillon-Merrill participated in the illegally handling an educational has gone through a wave of Social Security plan. He says that Risk Management Symposium technology contract from the scandals...raising people to the new plan would expose held by the Center for Business government. The Huron report recognize ethics is good for the people to the same fluctuations and Public Policy on the is expected to answer ethics and community.” George Daly was that the original Social Security examination of near-miss policy questions and Sherman also quoted in a New York Times plan was designed to protect incidents in relation to risky states, “We’re in the concluding (9/20/2005) article about the them against. decisions, which was covered by stages of our work.” launch of an advertising Occupational Safety & Health Professor Sandeep Dahiya was Laura Mandala, who teaches at campaign by a nonprofit (4/14/2005). quoted in an article in The Deal the McDonough School of foundation dedicated to (3/16/2005), about Delta Air Business and owns a market improving public financial

McDonough Business 11 literacy. The new ad campaign participated in a Q&A for company she co-founded, Peer Mattel’s problem with young will spend its entire budget on Business Week (3/23/2005) about Insight LLC. The article also girls’ waning interesting in Time Warner media and he said what makes a successful job cites the popularity of her Barbie. The company faced he would be “surprised if the interview. course here at the McDonough many business challenges and campaign had any meaningful School, Developing New had to figure out how to regain Management outcome...They’re competing Products and Services. profitability. Goodstein, a Professor with every enterprise in the consultant for Mattel in the Robert J. Bies Ricardo Ernst was a guest on world trying to tell people how mid-1990s on the best practices was referenced CNN en Espanol (8/16/2005) to to manage their money...these in product branding, states that in a Business discuss Latin American spend far more in a single day “Mattel was vulnerable,” adding Week companies and the supply chain. than N.E.F.E. is going to spend that the best time for a rival to (7/18/2005) article that asks He said that today’s important on its campaign.” strike with a new product is business school professors to give business networks exist due to when a company is looking Adjunct Professor Andrew advice to the MBA President globalization and access to other inward. Sherman was featured in a Bush on how to manage the markets. Latin America must WashingtonPost.com (6/23/2005) controversy surrounding the leak confront this network and Stanley Nollen article about how he has of a CIA agent’s identity. While improve its infrastructure. was quoted in launched his own company, Bush has made it clear he detests When details are analyzed, the New York Grow Fast Grow Right unauthorized information leaks manual labor in Latin America Times Enterprises LLC. He has been from his Administration, he is is more expensive than in the (8/15/2005) in helping Washington-area failing to act on Karl Rove. Bies U.S. Ernst remains optimistic, an article about technology companies expand says that in this instance, the less despite mixed reviews, and says growing student interest in for the past 20 years and is well the President and his staff say, the the Latin American Logistic India. MBA students are published on the subject. He harder the White House press Center helps compile important choosing residencies at will continue his positions as an corps will bore in on the story. statistics that support his corporations in India over adjunct professor at both the argument. Discussion on this opportunities on Wall Street. Monica Gray, University of Maryland and topic continued when Ernst was Nollen directs the school’s assistant dean Georgetown University. featured on CNN en Espanol programs for MBA students in and director of (9/8/2005). He explained that India. A similar story ran in The Monica Gray, MBA the supply chain is what he calls Financial Express (8/20/2005) Carol Romett Admissions, “the new management about students choosing to and Beth was quoted in a network.” Supply chain spend their summers in India. Miertschin were BusinessWeek Online (7/29/2005) management is extremely Also, an article in Cool Avenues quoted in a article on how business schools important in mixing the vertical (8/17/2005) and in The Business Business Week and their international MBA Beth Miertschin and horizontal business Standard (8/24/2005) described Online programs are facing terrorism. processes. He cited five an International Management (7/1/2005) article about soothing “Things were different just a economic indicators that are Institute (IMI) event in India the culture shock that few years ago, at least in the unified by the supply chain attended by Professor Nollen international students may U.S. students, and especially the manager. The key is for and Professor Reena Aggarwal experience when in a new parents of undergraduates, were businesses to understand the on Business Policy and Strategic academic environment. Monica far more worried after 9/11 necessity of changing Management. Gray emphasized how talking and because it was the first time organizational structure by networking with students can Americans felt vulnerable.” In a APP.COM (8/27/2005) featured training and educating help give a sense of the school’s Business Week (8/9/2005) article an article on Kristine Ann Pappa employees of what constitutes overall culture and how many about a decline in MBA who was awarded the Delta successful supply chain students come from abroad to applications, she was quoted Sigma Pi Scholarship Key Award management. Ernst was also study, speak a second language or saying “I don’t think the current for ranking first in her business featured on CNN en Espanol have lived or worked overseas. decline says anything more than class after four years of study. (10/14/2005) to comment on Carol Romett discusses her role as that the demographic is smaller, Pappa also received the Houston Delphi’s bankruptcy, among a senior instructor for the Center and there are fewer foreign Accounting Award for greatest range of other topics including for Language Education & students applying to U.S. B- achievement in the field of the Avian Flu, Apple’s ipod, Development, and the schools...The picture is not as accounting. She graduated rising cost of petroleum and importance of confident, effective bad as many people paint it.” summa cum laude from consumer reaction, as well as the communication. Beth Miertschin Georgetown with a Bachelor’s Jeneanne Rae was featured as Federal Reserve’s interest rate. explains the importance of career degree in Business one of seven people called “The management activities and says, Ronald C. Administration. Innovation Gurus” as part of a “Often we hear international Goodstein was special report in Business Week students say they wish they had quoted in (8/1/2005). Rae focuses on her focused on the job search from Baseline role as an innovation coach to day one.” Beth Miertschin also (8/4/2005) in companies by running innovation an article about audits through the successful 12 McDonough Business Professor Pietra Rivoli was the He was also mentioned in a Stock Exchange to the NYSE. focus of a Time Magazine BusinessJournalism.org Angel was quoted in a Los (3/21/2005) article about the (4/28/2005) article about Angeles Times (9/11/2005) recent publication of her new powerful resistance to the article about whether the book “The Travels of a T-shirt proposal of NYSE’s merger regulatory unit of the NYSE in the Global Economy” and plans with Archipelago will be broken off by the SEC her book was also featured in an Holdings. Articles in the and the Justice Department. In American Prospect (4/6/2005) Rutland Herald (4/23/2005), an article on MSNBC.com article. It was also listed on a New York Post Online (9/11/2005) about Under summer reading list as a great (4/23/2005), Bloomberg News Armour’s IPO stock plan, read and a must for business (4/22/2005) and E-Commerce Professor Angel states “A lot of Pietra Rivoli and her traveled t-shirt students’ summer reading list in Times (4/24/2005) quoted entrepreneurs are naturally articles in BusinessWeek Online Angel on the NYSE’s acquisition hesitant when going into the (7/5/2005). Her book inspired The Financial Times of Instinet two days after buying public markets for the fist time, an NPR (4/26-28/2005) series (8/24/2005) (9/25/2005) Archipelago. In a Wall Street thinking unless they have 51 about the textile industry released two similar articles Journal (7/18/2005) article percent of the votes, they don’t around the globe, which about businesses being exposed about the fluctuating cost of have control.” spawned a series of articles to supplier problems. Rivoli says NYSE seat prices, Angel says Professor Catherine Tinsley was about the Chinese textile that before companies source that part of the reason behind quoted in a (10/30/2005) industry in Reason (5/9/2005), exclusively from China, they the recently flat seat market may BusinessWeek Online article Bloomberg.com (5/16/2005), must understand the political be that some of the initial about the presence of role CNN (5/19/2005) with Wolf risks, “you have to have a euphoria surrounding the deal models for female MBA Blitzer, Bloomberg (5/23/2005), sophisticated understanding of has worn off. He also discussed students. She said, “Women International Herald Tribune the political relationship this topic on National Public need to know that they can be (5/23/2005), New Straits Times between China and the West. Radio (7/26/2005). A CFO.com women and still be incredibly (5/26/2005), Washington Post You have to be on top of the (6/23/2005) article discussed successful,” and went on to (5/28/2005), and The Japan trade issue, the current issue Nasdaq’s proposition that explain that when she “first Times Online (5/31/2005). and a lot else besides.” companies that miss their filing launched her career, she Professor Rivoli was cited in a deadlines could potentially be Associate Professor James J. thought she had to be gender- YaleGlobal Online (5/3/2005, removed from the over-the- Angel was quoted in a neutral in her behavior to 5/6/2005) two part series on counter market for a year. Angel Bloomberg.com (4/8/2005) article succeed. When she realized protectionism. A Forbes.com states, “With big firms, it makes about the New York Stock what she was doing, she decided (4/13/2005) article mentioned sense to look at the facts and Exchange (NYSE) naming to liberate herself by her book in reference to the circumstances of each case...If Marshall Carter its new recognizing her femininity.” Chinese immigrant protest of firms mess up three times, it chairman, stating “The NYSE Professor Tinsley is also U.S. job losses. Rivoli was also says a lot about their internal over the next few years will be in working with Effat College in cited in a Business Week Online systems and their ability to a huge fight for market share... Saudi Arabia to design its (5/10/2005) article about provide accurate and timely having people who have curriculum. In a story featured studying abroad as a information to their investors.” expertise in bringing in order on www.arabnews.com, she said Georgetown MBA student. Angel is quoted in a Baltimore flow is critical. They need “I’m delighted by this visit. Rivoli led a student research Sun (5/15/2005) article about people who can ask the right Effat College is a pioneer for project for the Shanghai Maryland companies having questions.” Angel was also progress in Saudi Arabia. I’m International Group, and states business dealings with officials quoted in articles in impressed by the efforts of Effat “Study tours have become a who run them. A Los Angeles Smartmoney.com (4/21/2005), College as well as the business dime a dozen. Where we’re Times (6/18/2005) article Chinapost.com (4/22/2005), and community in JCCI and people going to distinguish ourselves is quoted Angel about the the Los Angeles Times (4/21/2005) of SAGIA.” in real projects in these conviction of Tyco executives about the NYSE making a countries.” Fortune (6/27/2005) and the implications for other historical deal by buying its rival quotes Rivoli in an article about corporations. A Bloomberg.com stock exchange, Archipelago standards set in other countries (6/30/2005) article about Holdings, Inc. A Business Week are shaping big companies’ Morgan Stanley naming John Online (4/25/2005) article behavior. In reference to this Mack chairman and chief discussed how the NYSE- changing behavior she states, executive officer. Angel was also Archipelago deal may affect “There has been a sea of change quoted in a Wall Street Journal trading. In reference to ...Until recently the U.S. brand- (7/21/2005) article about how extended-hours trading, Angel name companies would say they the biggest provider of states “Trading outside the had neither the right nor the exchange-traded funds will normal trading session is always responsibility to do anything move all but one of its products going to be a niche activity.” about their supplier factories.” now listed on the American

McDonough Business 13 Brooks Holtom received the 2005 Western Academy of Management (WAM) Ascendant intellectualcapital Scholar award. The award is given annually to assistant professors who are members of WAM and have shown promise in the areas of research, teaching and service. Richard America was invited Professor and Director of Georgetown Business to discuss trends in professional Ethics Institute George Brenkert was a panelist management education in at “Chaos in the Public Square” presented by Africa at a conference in Harvard Business School Publishing Conference. Ouagadougou, Burkina Faso. The title of the panel was “It’s a Small World He visited management After All: The Impact of Global Standards on Pinkowitz Soule programs at universities in Burkina Faso, Niger, Corporate Speech.” McDonough School of Business Professors Lee Benin and Togo in 2005. He is working with Pinkowitz and Ed Soule were awarded tenure these universities to help them join the AACSB Professor Catherine Langlois and were promoted to associate professors. and begin the process of moving towards eventual has been elected to a four- accreditation at global standards. America was year term on the council of Associate Professor Edward Soule completed a also invited by the World Bank/IFC, to speak at the Peace Science Society study on ethics in the wake of recent corporate the launch of the African Business School (International). The Peace scandals entitled “Embedding Ethics in Business Association in Accra, Ghana in March 2005. Science Society is a scientific and Higher Education: From Leadership to association of individuals who develop and study Management Imperative.” This report was part Michael Czinkota provided testimony to the theory and methods for the study of peace. of the Business Higher Education Forum ethics World Trade Organization in Geneva on whether initiative, which developed a new method for and how to include higher education in the “When Fully Informed States Make Good on the embedding ethics into organizational culture. services negotiations of the Doha Round. His Threat of War,”a paper by Professor Catherine testimony was entitled “Loosening the Shackles: Langlois was accepted by the British Journal of McDonough School of The Future of Global Higher Education.” Political Science. Langlois was also awarded a Business Professor Alan R. Fulbright Senior Specialist Award to conduct Andreasen was invited back Czinkota also gave the keynote address at the th research and offer consulting services at Adolfo to the editorial board of the 12 World Marketing Congress in Muenster, Ibanez University in Chile. She will consult with Journal of Consumer Research Germany, entitled “International Marketing and the Director of the Center of Global and the Journal of Consumer Terrorism: Managing the Unthinkable.” He was th Management on how to improve curriculum Policy. Andreasen has been on the Journal of ranked 7 globally among leading international design and activities for the recently created Consumer Policy editorial board since 1996 and business professionals based on representation Masters in Marketing program. the Journal of Consumer Research since 1987. on editorial boards over a 12-year period by the Journal of International Business Studies. James P. Moore, Jr. was chosen as this year’s Professor Alan Andreasen’s textbook Strategic th honorary faculty member to the business honors Marketing for Nonprofit Organizations was Czinkota was also named the 10 most prolific society, Beta Gamma Sigma, by McDonough translated in Japanese. author in International Business by the Center School of Business seniors who are a part of the for International Business Education and organization. Research (CIBER) at Michigan State University. The list is compiled from works in International John Hasnas spoke at the Business Journals from 1995 to 2005. Czinkota Cato Institute Policy Forum on ranked third in the last study done for the Deputizing Corporate period 1985-1994. Counsel as Agents of the Federal Government. He was Professor of Economics John part of a panel that included W. Mayo was elected the U.S. Attorney Timothy Lynch and Defense 2005 President of the Attorney N. Richard Janis. Transportation and Public Professor Rivoli at the book signing. Utilities Group of the Adjunct professor Michael G. Carberry was International rights for the translation of American Economic appointed as president of CARMA International, Associate Professor Pietra Rivoli’s book, Travels Association in conjunction with the December the Washington, DC based global media of a T-Shirt in the Global Economy, have been 2004 American Economic Association meeting. analysis firm. sold for Dutch, German and Russian. It was also Professor Kasra Ferdows was declared the Credit Research Center Director Michael Staten a finalist for the Financial Times Business Book winner of the Producation and Operations co-authored a chapter in the book “Building of the Year Award. ABC Nightline and Chicago Management category in the 2005 Assets, Building Credit: Creating Wealth in Low- Public Radio have both aired segments based on BusinessWeek/European Case Awards for his Income Communities.” This book was co- the book. Rivoli’s book was presented at the case “Zara,” which was co-authored by published by the Brookings Institution Press and Politics and Prose Bookstore in Washington, DC Professor Jose A.D. Machuca and Professor the Joint Center for Housing Studies at Harvard and in McShane Lounge on Georgetown’s Michael Lewis. University. Staten’s chapter is entitled “Accuracy campus as a Library Associates event. in Credit Reporting.” The chapter examines the Adjunct Professorial Lecturer Karen M. Becker, law and economics of credit reporting in the of Becker & Associates Consulting, Inc., was United States. It surveys the available evidence named as a finalist for the Ernst & Young on credit report quality and focuses on the Entrepreneur of the Year 2005 Award.

14 McDonough Business strengths and weaknesses of the U.S. regulatory specializes in Corporate Finance, Corporate Professor Thomas L. Brewer was invited by the system in promoting accuracy, timeliness and Restructuring, Banking and Financial Institutions. European Commission to make a presentation in comprehensive content of consumer credit files. His current research focuses on investment Brussels on the subject of business and It identifies “problem” areas, assesses the decisionmaking when a firm faces financial government responses to climate change issues likelihood that market-driven solutions will difficulties. He teaches Advanced Financial in the U.S. The audience of 200 included evolve and discusses whether regulatory Management. members of the European Parliament, officials of solutions are feasible or needed. the Commission and industry representatives. Instructor Claudiu Dimofte with co-author Dr. Betsy Page Sigman was Richard F. Yalch evaluated the impact of Professor Douglas McCabe presented five awarded Hyperion Academic advertising slogans with multiple meanings on papers at scholarly meetings in 2005: Alliance’s first-ever faculty consumers. This research is the first to establish “Alternative Dispute Resolution and Employee training grant. Hyperion is the that consumers differ in their ability to process Voice in Organizations: A Winning Strategy for global leader in Business multiple meaning phrases, that this difference is Human Resource Management and Corporate Performance Management separate and distinct from other linguistic Social Responsibility,” “Alternative Dispute software. Sigman said, “I am very excited about abilities, and that it appears linked to working Resolution in the Employment Relations Arena,” participating in this program with Hyperion. It will memory capacity differences. The research “Executive Pay and Managerial Compensation: provide our OPIM majors a distinct advantage, culminates in a new scale, SMAARTS, which The Linkage to Business Ethics,” “The Federal enabling them to enter the work world with real assesses the ability to automatically process the Sector Collective Bargaining and Mediation experience in the latest Business Intelligence tools.” secondary meanings of polysemous phrases. Environment: The Impediments to Productivity of the American Society for Competitiveness,” and Adjunct Professor William T. Hemelt joined Professor Catherine Tinsley was named conflict “Strategic Dispute Resolution in the Nonunion Wilson International Law as counsel. Helmelt management division chair by the Academy Employment Relationship.” He was quoted by specializes in tax planning, cross-border of Management and will serve for one year. Voice of America News on the subject of transactions and related compliance and The division chair acts as the Chief Executive “Corporate Ethics - Better or Worse than the reporting issues. Officer and manages all division activities. Tinsley Past.” McCabe also conducted the “Executive will be responsible for the finances of the Adjunct Professor Peter S. Watson has been Certificate Program in Organization division as well. elected to the board of directors of Fluor Management” for the Los Alamos Laboratory Corporation. Watson was formerly president and Assistant Professor Rebecca and a seminar for the National Association of CEO of the Dwight Group, which supports Heino has co-authored the Broadcasters’ Executive Development Program global transactions. Fluor Corporation provides paper, “Self-presentation in through the Office of Executive Education at the services on a global basis in the fields of online personals: The role of McDonough School of Business. He was engineering, procurement, construction and anticipated future interaction, appointed to the Advisory Board of the College project management. self-disclosure, and success in Business Group of Houghton Mufflin and to the Internet dating” with Jennifer Federal Sector/Public Sector Industry Council of Associate Professor Bardia Kamrad wrote Gibbs (Rutgers University) and Nicole Ellison the Labor and Employment Relations “Innovation Diffusion Uncertainty, Advertising (Michigan State University). The study Association. and Pricing Policies,” (with A. Saddique, S. Lele investigates self-disclosure in the novel context and R. Thomas), which appeared in The Professor Stanley Nollen was award a Fulbright of online dating relationships. Using a national European Journal of Operational Research, (Vol. Scholar grant to teach in Prague by the State random sample of Match.com members, they 164, pp. 829-850, 2005). He also wrote Department and the William J. Fulbright Foreign tested a model of relational goals, self-disclosure “Estimating Demand By Sales Information: Scholarship Board. Nollen teaches courses in and perceived success in online dating. This Inaccuracies Encountered” with Ricardo Ernst international business and economics to MBA, research extends existing theory on computer- and “Delivery Performance in Vendor Selection Executive MBA and undergraduate students and mediated communication, self-disclosure and Decisions” with Keith Ord and Ricardo Ernst, focuses his research on technology transfer, relational success to the increasingly important which are both forthcoming in the The exporting, foreign direct investment and trade arena of mixed-mode relationships, in which European Journal of Operational Research policy liberalization. Previously, Nollen was a participants move from mediated to face-to-face (2005). Kamrad was invited to the Olin School Fulbright Scholar Research Fellow in India. “I am communication. Heino won the International of Business at Washington University for the Risk pleased to recognize the contributions these Communication Association Best Paper Award Management Conference. His presentation was faculty are making in their fields,” said for her paper, “Are We a Match: Choosing entitled, “Market Risk and Process Uncertainty in Georgetown University President John J. Partners in the Online Dating Market,” at the Production Operations.” DeGioia. “I look forward to their continued 2005 annual conference held in May. success as they work to foster mutual Professor Reena Aggarwal McDonough School of Business Professor understanding between the United States and was named to the Thomas Brewer launched a website for his countries around the world.” Advisory Board of the project entitled “The Climate Change Budget International Journal Professor Patricia Hewlin spoke in Novenmber Tracking and Analysis th of Effective Management. at the invitation-only 11 Annual Wharton Project.” The research for this Organizational Behavior Conference. The title of project began two years ago her lecture is “Wearing the Cloak: Antecedents Assistant Professor Sandeep Dahiya won the and has yielded two papers. and Consequences of Creating Facades of Financial Management Association’s (FMA) Best A file of materials—“The Conformity.” Financial Institutions and Markets Paper from Climate Change Budget the 2004 FMA Annual Meeting Competitive Tracking and Analysis Project”—is available at Paper Awards. Dahiya’s co-authors, Sreedhar http://explore.georgetown.edu/faculty/index.cfm Bharath, Anthony Saunders and Anand ?Action=ViewPublications&NetID=brewert. Srinivasan were also honored. Professor Dahiya

McDonough Business 15 Faculty in Focus Ken Homa

en Homa teaches four elective Professor Homa’s classes, which MBA courses in the McDonough students sometimes call “Homa-cide”, School of Business that are include four electives: known for their fast pace and ■ Applied Marketing Management, is a demanding requirements. In quantitative-oriented course that uses Ka nod to his challenging teaching style, he marketing strategy simulations to elevate was featured in a 2004 New York Times competitive drive and give students an article “Tough Love” as an “uncompromising opportunity to apply concepts. “My courses tend to teacher who takes his mission seriously and ■ Advanced Marketing Strategy, is a expects mountains of work.” traditional case-based strategy course that Professor Homa, who has a cum laude empowers students with strategic analysis reflect the pace, undergraduate degree in economics from tools that can be applied to real life Princeton University and an MBA from situations. content and success the University of Chicago, where he was a ■ Price, Value and Profitability, the most lecturer in marketing and strategic planning recent addition to Professor Homa’s for MBA and executive education courses, course sequence, combines economics, factors that are typical brings over twenty years of real-world accounting, operations and marketing to experience to his classroom. provide students with a multidisciplinary in blue-chip business “My ‘deal’ with students is that there analytical perspective. will be lots of work—but there won’t be ■ Models of Profitability, is offered to any ‘busy work’....students tend to ‘buy in’ MBA students just before graduation. environments.” because they know I’ve ‘been there, done Each year the course content changes to Ken Homa that’ and that I genuinely want them to reflect “what’s hot” with thought-leading succeed,” said Homa. “My courses tend to companies and consulting groups. Last reflect the pace, content and success year, the focus was on marketing ROI and In his nearly 10 years at the factors that are typical in blue-chip CRM models. McDonough School of Business, business environments.” To support the courses, and to give Professor Homa has earned several Prior to coming to the McDonough McDonough alumni an online archive of teaching and service awards. The last five School, Homa worked as a systems material, Professor Homa developed and graduating MBA classes have honored consultant with Arthur Andersen, an maintains www.homahelp.com, a website him with the Ronald L. Smith econometrician for a capital goods complete with concepts, models and Distinguished Service Award and he has manufacturer and an operations analyst for analytical processes. been received the MBA’s Distinguished a major food retailer before joining Despite their well-publicized rigors, Teaching Award three times. McKinsey & Company as a management Professor Homa’s courses are usually filled Professor Homa was on the founding consultant specializing in consumer goods to capacity. Roughly two out of every Boards of Sequoia Software and IQStat and marketing. After working at McKinsey, three students in the class of 2005 took at Media Metrics, and on the board of he was general manager of product least one of Professor Homa’s elective Sirva, Inc.—a Clayton Dubilier & Rice marketing at GE’s Major Appliance classes, with almost one-third of the class portfolio company. He is currently on Division, general manager of marketing taking three or more of them. the advisory board of Upper Quadrant, for GE’s Housewares Business Group, and More than the number of students a marketing performance measurement vice president of marketing for Black & who take his classes, Professor Homa is company. Decker’s Household Products Group. At motivated by the quality of those students. Professor Homa and his wife Kathy Black & Decker his responsibilities “I’m fortunate that students who elect to live in Great Falls, Virginia and play in included transferring the equity of the take my courses are ‘the pick of the Annapolis, MD with their two dogs, General Electric brand and establishing litter’…serious-minded students with a Captain and Skipper. Both of Professor Black & Decker as the leading brand of strong desire to succeed,” Homa said. Homa’s sons, Jay and Scott, are household products, and developing and McDonough graduates working in the deploying business systems worldwide, DC area. with particular emphasis on supply chain Professor Homa says, “Teaching is my process reengineering. passion, and there’s no place I’d rather be doing it than at Georgetown.”

16 McDonough Business Prospectus Shocks as Causes of Turnover: What They Are and How Organizations can Manage Them Brooks Holtom

s our newly graduated students organizational; expected vs. unexpected; enjoy an improving job market, and positive, neutral and negative. alumni that are leading Organizational shocks might include being organizations will most likely passed over for promotion (a negative and Ahave to work harder to fight turnover. unexpected event), the company being There is, however, new research that will acquired (a neutral and expected occurrence) help employers keep valued employees: and having a major disagreement with the more employees quit jobs in response to boss (a negative and unexpected incident). “shocking” events than they do because of Examples of a positive, expected, accumulated job dissatisfaction. personal shock might be adopting an ■ Use the survey information to address The research, “Shocks as Causes of infant. A negative, unexpected, personal organizational issues raised by incumbents Turnover: What They Are and How event might be the loss of a loved one. and thereby increase the probability of Organizations can Manage Them,” authored Other events may be positive or negative their staying. This information can be used by Professor Brooks Holtom, can assist depending on who experiences them and in developing recruiting and selection employers in changing the way they look when. For instance, the transfer of a spouse procedures to reduce the likelihood of at turnover in their corporations. After all, to a new city, being elected a church officer hiring people with a high probability of no one wants to lose good employees. or seeing a boss fired might be good or bad leaving the organization. Consequently, employers need to better depending on the circumstances. This information would also help understand the types of events—the “shocks” Regardless of where the shock managers anticipate when employee —that cause employees to ponder leaving. originates, if it results in the exit of a expectations might be violated (unexpected, Simply trying to increase job satisfaction is valued employee, it is likely to be costly to organization-based shocks). Such events not enough to prevent the avoidable. the company. That said, that not all might include performance appraisal, Involuntary turnover has both hard and soft turnover bad. If a company is losing “low salary decisions and promotion activities. costs to the organization. Costs include: performers,” it should be grateful. The However, the research found that only ■ Recruiting costs for the backfill employee primary focus of an employer should be to 14% of respondents mentioned money as a ■ Time for interviewing and selection of retain “high performers” by addressing reason for leaving; 59% left due to an the replacement both workplace dissatisfaction and outside job offer. ■ Time needed for training the new precipitating events. If turnover occurs Managers should receive training to employee among the least effective employees, it is help coach their people throughout the ■ Loss of institutional knowledge generally beneficial for the company. year, as well as training on how to deliver ■ Loss of experienced customer support and “Not all turnover is detrimental,” this type of information so as to reduce the ■ Loss of future leadership for the company Holtom said. “If the non-performers are probability of their employees experiencing One health care organization surveyed leaving, it can actually be quite good for shocks. Additionally, such information gave a conservative estimate that the the company.” should emphasize the importance of turnover costs for them is between 3.4% For the study, more than 200 departing frequent communication between and 5.8% of the overall annual operating employees were interviewed and more than organizational leaders and employees. If budget for an entire medical center. This 1,000 survey responses were collected from communication lines are open, leaders can equates to a turnover cost of $17–$29 diverse populations including nurses, foresee potential shocks and be among the million on a $500 million base. accountants, international and local first to know when shocks do occur. This “This study should change the way bankers, as well as government employees. knowledge will give leaders more time to employers look at the causes of turnover. To learn more about why their “good” anticipate and respond to shocks. No one wants to lose their star employees, employees may be leaving, the study The paper was published in the fall so employers need to be much more recommends that organizations seek to issue of the University of Michigan’s cognizant of what might cause an understand the shocks their people Human Resources Management journal. employee to consider quitting in the first experience by following a similar approach: “Shocks as Causes of Turnover: What place. Focusing solely on job satisfaction is ■ Conduct exit interviews and administer They are and How Organizations can not sufficient,” said Holtom. broad-based surveys on why current Manage Them,” was co-authored by These “shocks” are identifiable events— employees have considered leaving their Terence R. Mitchell of the University of some of which are predictable. “Shocks as organization, and why they have left other Washington, Thomas W. Lee of the Causes of Turnover” identifies three organizations in the past. University of Washington and Edward J. categories of shocks: personal vs. Inderrieden of Marquette University.

McDonough Business 17 Q&A Dean Daly Read about the new Dean, then check out his draft plan.

Q: Tell us a little about yourself. a great deal of enthusiasm, a real Q: Aren’t you concerned that A: OK. I was born in Painesville, Ohio, a commitment to progress. Now we have “Haste makes waste,” that such small town about 20 miles east of to “do it,” that is, to put in place those a far reaching planning process Cleveland. My parents were public school things that will allow us to realize these requires more time? teachers. I went to Miami of Ohio for my aspirations. A: I certainly don’t want to do anything undergraduate degree and to thing in a haphazard or hasty manner. Northwestern for my graduate degrees, Q: Tell us about “those things.” Frankly, however, I’m more concerned by all of which were in economics. I’ve spent A: The business school business is highly the opposite phenomena that I often see most of my career in academia with a competitive and is becoming more so in academic environments: endless few periods of service in the federal every day. To successfully compete in such discussions and inaction. We’ve been government. I’ve spent the last 12 years an environment, a school needs to have without a permanent dean for some time at the Stern School of Business at New an identity, that is, a clear sense of its now and I believe the need for the actions York University. purpose of what it can do that is different we’ve outlined is reasonably urgent. from and better than what others can do. I have a wife, Barbara, two grown So at Georgetown, we need to clearly Q: You keep using the term children and Cairn Terrier named Delilah. define what we are and what we are not, “business” in describing the and to take those actions that are environment in which you Q: What drew you to necessary to make our distinctive operate and your plans for Georgetown? attributes a reality of our activities. And the McDonough School. A: Several things. First, was my sense we need to make sure that the people This may disturb some people, that it was capable of significant vital to this realization are made aware especially academics. Doesn’t improvement, of a good school that of our distinctive qualities. this concern you? could be even better, perhaps much A: I don’t want to trouble anyone and better. Second, that a dean’s leadership Q: So how do you do such things? I like to think of myself as a reasonably would be a critical determinant of A: It’s one of those things that is simple cultured and sophisticated person. whether the School’s potential would be in concept and difficult in practice. However, the McDonough School is in realized. Third, was the sincerity and First, you develop a plan. Then you a business, albeit a very special one, and dedication of the Georgetown execute that plan. And you make sure we would be making a serious mistake community, starting with President the relevant people are made aware to suppose otherwise. We have DeGioia and extending through the of what you’ve done. competitors—for students, faculty, staff, alumni, faculty and staff. Finally, but donors. We have revenues and costs. We crucially, was the availability of the Q: Is that what your strategic need to think about pricing and financial and other resources of the planning task force has done? productivity, about efficiency and morale. magnitude that I believe are necessary A: Yes, and on a fast track basis. We In other words, while we have a very to compete at the highest level of the started in May, shortly after I was named special and important role to play, business school business. dean. And we finished by January 1. The especially in the lives of our students, group involved alumni, faculty, students we face the same challenges as other Q: Now that you’re here, are you and staff and it focused on actions and organizations in other businesses. having any second thoughts? steps, not talk or philosophizing. The It is when a school loses sight of these A: None. What I’ve seen has only steps that we need to take are described realities and thinks of itself as “above” reaffirmed my conviction of the in this document and we are in the such mundane matters that they tend tremendous potential of the McDonough process of implementing them at this to get into trouble. School. The resources are in place. We moment. have a great new building underway,

McDonough Business 19 DRAFT Summary of Strategic Planning Task Force Dialogue In an effort to keep our constituencies informed, included in this issue of the McDonough Business magazine is the latest (at press time) draft of the strategic plan for the School as recommended by the Dean and the Strategic Planning Task Force.

Final Discussion Draft The School needs to define itself in ways that December 13, 2005 are meaningful, distinctive, attractive to critical Faculty constituencies and plausible in the context of During the recent past, the faculty has The goal of the McDonough School of Business the School’s capabilities and resources. This performed admirably under challenging (MSB hereafter) is to become, and to be widely definition should reflect the School’s competitive circumstances and, in particular, resource recognized as, one of the premier business advantages and should focus on subject matter constraints more serious than those confronted schools in the world. In order for the School to and educational processes. by most of our peer institutions. As noted in the achieve this goal, we believe that significant 2003 Report, the faculty lacks the scholarly changes are required. 1 Recommendations: visibility of many other institutions. We believe Our School exists in an environment in which We believe our School should focus its that this is not coincidental but rather a direct the competition for students, faculty, staff and educational activities around a small number of result of several dimensions of the School’s financial support is increasingly intense. If MSB is general themes that characterize the world now operations (e.g. a relatively compressed salary to advance among the hierarchy of leading and in the future, for which we are preparing structure). Resources should be devoted to business schools, it must develop a coherent our students. These themes must be emphasized remedying this situation through two primary vision of itself and its central activities as well as in our curriculum, educational processes, the avenues: (1) The recruitment of senior scholars develop the actions needed to realize that orientations of our faculty, staff and students who embrace the MSB and Georgetown vision. Our Task Force has been considering and the manner in which we portray ourselves cultures and (2) The devotion of resources to these issues at a series of meetings. In addition, to others. These themes are: those activities (e.g. research support) that will we have surveyed programs at other leading encourage the development and retention of universities and used focus groups and surveys Globalization, reflecting the profound and promising scholars on the MSB faculty. In to gather Georgetown student perspectives. growing importance of business activities that take addition, the reward system for faculty should Financial projections have been developed with place across national boundaries and cultures. recognize the variety of ways in which individual representatives of the University. Innovation, reflecting the rapid changes that faculty may contribute to the School and move away from formulaic, “one size fits all” This draft document attempts to summarize the occur in the modern world and the importance of approaches (see also Governance below). dialogues held to date and to make a series of adapting to them in prompt and thoughtful ways. action recommendations that we believe we Leadership, as a central element in personal and Recommendations: must act on to achieve our vision for the School. organizational success in business and elsewhere. These recommendations are rather general by The size of the faculty should be increased in necessity; in many cases additional deliberative We also believe that the manner in which we both number and scholarly distinction. Junior bodies will be needed to bring final definition to seek to embody these themes throughout our faculty should be recruited from the finest the recommendations. The paper is organized programs and activities should be influenced by academic programs in the world and be along the topic areas contained in the Task our association with Georgetown University and provided support comparable to that of peer Force’s original charge. its location in a major urban center and national institutions, including mentoring by senior capital. In particular, our activities should reflect colleagues. Each academic area within the Georgetown’s historic commitment to the School should be encouraged to nominate primacy of the student experience as the outstanding senior scholars for appointment to Vision/Identity principal rationale for its activities and the the faculty. An appointments committee MSB’s identity has become blurred over time, acknowledgement of the centrality of ethical consisting of the Area Coordinators, the Dean of making it seem indistinct from many of its and spiritual dimensions of human behavior to Faculty and the Dean should evaluate potential competitors. This has been caused both by the educational experiences. We should rely on the senior appointments. Development activities actions of other schools (e.g. the actual or other resources of the University in developing should emphasize the need for endowed claimed development of international business programs of the first rank and should develop professorships to attract and retain key faculty. programs) as well as by events such as frequent programs that take advantage of the Individual faculty should be given incentives and turnover in the School’s leadership that have governmental and quasi-governmental rewards to contribute to the School in ways that distracted it from such strategic issues. institutions that play a dominant role in our make best use of their particular talents. Faculty community. activities and performance should be made more transparent to students and colleagues.

1 Elaine Romanelli et.al, “A Premier, Distinguished Business School in the Nation’s Capital: Strategic Plan for the McDonough School of Business,” May 1, 2003. 20 McDonough Business DRAFT move across organizational boundaries within between such tracks and career choice and (c) Students the School should be created. Underperforming increase the rigor of many core courses. It MSB’s students are both highly qualified and areas should be critically evaluated. should also address the mechanisms through diverse. They tend to have communitarian which high quality core teaching, teaching natures that make them a valuable resource in versatility and new course development can be producing productive change at the institution. Academic Programs rewarded and encouraged among faculty. They are eager for such change and wish to play an active part in bringing it about. Actions The School’s academic programs deserve should be taken to enhance the pride they take thorough review in terms of both curricular Communication in the School and in themselves. content and delivery. The Undergraduate Program differs markedly from those in place at The identity and distinctive virtues of the School Recommendations: peer institutions. The MBA curriculum does not must be effectively and consistently communicated appear to reflect a conscious and consistent to those groups whose knowledge of them is Students’ opinions should be actively solicited educational/intellectual perspective. In the vital to our interests. To achieve this, a substantial and considered when policies that affect them process of reviewing these programs, care effort should be undertaken to learn more about are being evaluated. Particular efforts should be should be taken to distinguish between and these constituencies, their current perception of undertaken to build stronger alumni skills or techniques and between material best the McDonough School, how they were formed relationships among current and former students transmitted through classroom activities and that and how they might be changed. and between students in the School’s different better learned through out-of-class activities. degree programs. The School’s academic Recommendations: programs should not accept students who are Recommendations: deemed unlikely to make positive contributions The School needs to devote substantially more to the educational process. Additional efforts Additional task forces containing students and resources to the areas of communication and should be made to identify and attract the most staff as well as faculty should be appointed to marketing. This effort should begin with the able students for all of the School’s programs. review and redesign the School’s Undergraduate hiring of a seasoned professional at a high level and MBA curricula. These efforts should (e.g. Associate Dean) who would be charged endeavor to bring fresh perspectives to the with rapidly developing a marketing plan for problem, survey programs at other institutions the School. Staff/Administration and, especially, incorporate the core characteristics MSB is understaffed relative to any of its peer described in Vision/Identity above into the schools. Many critical administrative functions McDonough School’s educational activities. Development and are either absent or severely under-funded. The redesigned Undergraduate Program should These conditions have contributed to more closely resemble those at other leading Alumni Relations considerable stress, highly uneven performances private universities. In particular, it should (a) MSB has had a relatively late start in the area of across administrative functions, inadequate have substantially increased intellectual rigor and fundraising due both to its relatively brief history communication and collaboration among them quantitative content (b) involve more experiential, and to the University’s rather late start in and, in many areas, discomfort with new out of class learning experiences that take fundraising activities. Many alumni have a deep ideas/methods. Personnel rarely move between advantage of our location in Washington, D.C. attachment to the School and have been major organizations, further contributing to (c) spread business administration courses contributors to it and several of its initiatives, administrative silos. In addition, these conditions throughout the four year curriculum instead of especially the new building. As critical as these have required many faculty members to assume concentrating them in the last two years and (d) efforts have been, they can and must be administrative functions for which they are not develop an orientation that will introduce improved upon. well prepared, diverting them from their primary students to the basic dimensions of business tasks of teaching and research. activity and create a sense of common endeavor among them during the first year of their Recommendations: Recommendations: Georgetown experience. Consideration should The School needs to integrate the development The School’s administration needs to be re- be given to developing courses for students in activities more closely with its other operations engineered and reorganized in a manner other Schools at Georgetown who wish an activities by, for example, having individual consistent with its strategic goals and with introduction to the world of business. These faculty more deeply involved. Additional methods and approaches taught in its courses should be separate from those offered accountability and responsibility for these classrooms. The recruitment, retention and to McDonough School students. activities needs to be vested in the School and, advancement of key personnel need to be based In addition to asking faculty to redesign courses especially, the Dean. More resources need to be primarily on their ability to contribute to the and course content in a manner consistent with devoted to building alumni relationships, School’s progress. A chief operating officer the School’s Vision/Identity above, the MBA task especially among recent graduates in ways that needs to be appointed and charged with force should consider (a) reducing the size of the they will view as beneficial, e.g. networking creating high quality, coherence and consistency core curriculum and (b) providing guidance to opportunities. In addition, the School will look across administrative areas. A sense of shared second year students regarding coherent groups to assigning staff responsibility for corporate and mission and collaboration needs to be of courses (“tracks”) and the relationship foundation relations. developed. Opportunities for talented staff to

McDonough Business 21 DRAFT Centers and Institutes Facilities Relationship with The McDonough School is home to a number of The new building slated for groundbreaking in research centers. Each of these enterprises 2006 promises to greatly expand the potential the University utilizes some combination of the School’s for the School. It is truly critical to the School’s The School and the University need to consider physical, human and reputational capital. Each future and it needs to be initiated and the ways in which they are organized and has been in existence for some time. completed as soon as possible. In the interim, interact. While the instructional responsibilities the School suffers from severe overcrowding of the Undergraduate Program are shared with Recommendations: with respect to the availability of both the College, this is not true of the school’s classrooms and offices. Each Center should be asked to prepare a plan graduate and executive education programs for its future activities which makes clear the which are essentially self-contained. Other such measurable benefits that its activities will bring Recommendations: professional degree programs at Georgetown to the School. Based in part on these plans, Efforts should be made to ameliorate the (e.g. Law) report directly to the President and thorough reviews of the institutional benefits School’s short-term space problems. The School’s are characterized by the devolution of primary and costs of these enterprises should be understaffing as well as the projected growth of fiscal and managerial responsibility to the School. conducted to assess whether they have fulfilled the School’s programs for fully employed the mission for which they were originally professionals requires that it seriously consider Recommendations: designed and/or whether that mission remains a acquiring additional space prior to the A governance system that provides the School high priority of the School. To encourage this completion of the new structure. Exploratory with the flexibility, incentives and financial review, the Task Force recommends that each efforts should be undertaken immediately. capabilities that characterize its principal Center’s affiliation with the School be slated to competitors should be instituted. The most expire on August 31, 2006 unless specific action common model for achieving this end is through is taken to reauthorize it for an additional, School Governance the creation of a graduate school of business specific (rather than indefinite) period. that has the same approximate degree of Many of the School’s main governance processes autonomy as the University’s other professional appear to have changed little from those in schools and by the institution of financial Executive Education place when the School was a small fraction of arrangements and controls that encourage both its current size. They appear to be better suited the School and University to behave efficiently. The McDonough School currently delivers to achieving internal consensus than to education for working executives in two responding to external threats or opportunities principal formats: (a) in its IEMBA and MBA-EP of the highly competitive marketplace in which and Executive Masters in Leadership degree we exist. In addition, they differ substantially Metrics of Success programs and (b) in the form of non-degree from those in place at our peer institutions. They Any plan for change should also include short courses, virtually all of which are of the need to be interpreted in a manner that information on how those involved can measure “custom” variety in the sense that each is provides the School’s leadership with additional progress made in achieving its goals. In the case designed for the needs of a particular client. flexibility and perspectives. Responsibility and of the McDonough School there are a variety of The degree programs appear healthy and well accountability needs to be more clearly focused. such measures, most of them interrelated in received with substantial enrollments. The short The roles and responsibilities of Area some way. These include: course programs, while generating substantial Coordinators need to be strengthened. ■ revenue, have made little or no financial The quality and number of applicants to contribution to the School or University over the Recommendations: the School’s educational programs. past five years, while absorbing some of the ■ Meetings of Area Coordinators and of senior The quality of the institutions with whom School’s most scarce instructional resources. administrators should occur on a regular basis we compete for students, faculty and and they should concern school-wide issues, the other resources. Recommendations: exchange of information and the ■ Rankings by publications and other The course structure of the IEMBA and MBA-EP encouragement of collaboration. Area enterprises that compare business schools. programs should be reviewed as part of the Coordinators should become an important ■ curricular review of the full-time MBA program source of information and advice to the Deans The number and significance of the scholarly described above. New leadership for the area regarding group and individual performance publications by the School’s faculty. should be sought. That leader, together with within their areas. The Faculty Peer Review ■ The degree of participation, both financial other parties, should evaluate the program of Committee recommendations should be treated and non-financial, we elicit from our friends short courses. If these courses cannot be offered as advisory in the merit review process. and alumni. in a manner that generates significant positive financial returns to the School they should be discontinued.

22 McDonough Business The New Capital for

By Alan Dessoff Capital Market Firms

hen people in Washington firms follow,” says Michael Grisius (B’85), talk about capital markets, a managing director in the private finance they usually are referring investment group at Allied Capital to places like Dean & Corporation. WDeluca on M Street in Georgetown or the Proximity to federal agencies is Sunday flea market on the Hardy School important to some firms. FBR cites that playground, across from the “social as a “distinct advantage,” enabling it to Safeway” on Wisconsin Avenue. provide clients “a unique perspective on These days, however, capital markets legislative and regulatory actions that have have another meaning in Washington. far-ranging impact on business and Political capital has become something of investment decisions.” a financial capital as well, a hotbed of Many FBR employees have worked on sorts of capital markets firms and specialty Capitol Hill, in regulatory agencies or for finance enterprises that are growing Washington-based industry groups. A rapidly and adding another perspective to Washington Policy Analysis Group provides Michael Grisius (B’85) the local business climate. a regulatory and legislative overlay to the managing director, Allied Capital “There is a growing recognition that firm’s analyses of companies and sectors. you don’t have to be in New York to “Being close to the decision-making process “The mid-Atlantic provide creative financial solutions,” says of the government has some real benefits in Patrick M. Steel (IEMBA’00), managing terms of understanding the direction of the director of investment banking at economy,” Steel says. area, particularly the Friedman Billings Ramsey (FBR), the Michael R. McDonnell (B’86), largest of the capital markets firms in the executive vice president and chief financial Washington area, area. “You need to understand businesses, officer of MCG Capital Corporation, says recognize opportunities and deliver the economy itself, as much as anything solutions to your clients so they can else, is responsible for the growth of has terrific demographic achieve their goals.” capital markets firms in Washington. FBR and the other firms are attracting “The economy is relatively strong and trends and great substantial numbers of Georgetown has been for an extended period. Even alumni, many with MBAs from the though interest rates are going up, they’re McDonough School and others from the prospects for growth Law Center and the College. FBR counts 18 Georgetown graduates among its more in and of itself.” than 750 employees, Steel reports. In addition to what Steel calls “a Michael Grisius (B’85) highly educated and talented employment base,” several other factors are driving Washington’s emergence as a center for financial firms. “The mid-Atlantic area, particularly the Washington area, has terrific demographic trends and great prospects for growth in and of itself, so it’s naturally going to attract a lot of businesses to the area, and the financial

Patrick M. Steel (IEMBA’00), managing director, FBR

McDonough Business 23 still pretty favorable. There’s an abundance places. The Washington area has a good revenue has grown at a compound annual of capital moving around and the deal of financial sophistication and is a rate of 36% since 1992. In 2004, the firm marketplace for financial services desirable place to live. The quality of life earned an industry-leading 22.3% return businesses is extremely good. It’s a good is so good here that FBR has found it on shareholders’ equity with an after-tax environment for investing money, lending pretty easy to attract and retain good net profit margin of 39.4%. money and borrowing money,” explains people,” says Patrick J. Keeley (B’70), FBR is structured as a real estate McDonnell, whose firm employs seven group head and managing director of investment trust (REIT) with taxable Georgetown graduates. energy investment banking at the firm. subsidiaries that conduct investment “People don’t realize all the activity “While Washington is not an banking, institutional brokerage and asset that is going on in this area on the private insignificant city by any stretch, it’s still management businesses. The firm also equity side and the investment banking not New York. More people are finding invests for the benefit of its shareholders side,” adds Michael Blank (MBA’03), an that from a quality of life perspective, they in a portfolio of REIT-qualified associate in equity research at FBR. would like to live in a place like this and mortgage-backed assets valued at year end “Washington is no longer just maybe enjoy a shorter commute and more 2004 at approximately $11.7 billion, as government. There are more non- flexible lifestyle than they might in a well as in a portfolio of merchant banking government jobs in this market than larger city,” adds McDonnell. and other long-term assets with a value of government jobs, and that’s spawning all “It’s a nice place to live. If we can solve $442 million. sorts of industries. Finance is coupled some of the traffic issues, it’s going to be FBR claims the foundation of its with a lot of that activity. As other sectors even nicer,” declares Scott Bryant success is a thorough commitment to grow, they are going to need supporting (MBA’03), senior associate in the highly differentiated fundamental research services, and banking is one of them.” merchant banking group at FBR. and analysis. During a time of research “I don’t think it’s just that this is an Whatever their market niches and cutbacks for much of the investment amazing area for specialty finance their reasons for locating in the banking industry, FBR has been steadily companies. I think it’s more that a lot of Washington area in the first place, the building its research team, which now opportunities have been created,” asserts financial firms seem to be thriving, led by exceeds 130 persons who follow more Demetrios Diavatis (MBA’97), a senior FBR. than 595 companies. It expected to extend vice president in institutional sales at Founded in 1989 by three research coverage to 670 companies by the FBR. entrepreneurs with an initial investment of end of 2005. Greg Bowie (MBA’03), an associate at $1 million, FBR is the only major Unlike relative newcomer FBR, Allied Gladstone Capital, which invests in small- investment bank formed in the last 30 Capital (NYSE: ALD) is one of the and medium-size private businesses, years and one of the nation’s most rapidly Washington area’s oldest financial firms, suggests that the continuing development growing capital market firms. Now a top headquartered in the city since its of technology businesses in the area is one ten investment bank with a national founding in 1958. As one of the country’s of the opportunities that support the franchise, it has one of the strongest leading business development companies emergence of the capital markets firms. equities distribution capabilities in the (BDCs), a designation created by “People started spinning out, forming securities in industry and tallied $1.1 Congress to encourage the flow of public their own businesses. It’s one of the billion in total revenues in 2004. The firm capital to small- and middle-market reasons venture capital came here, reported a market capitalization of companies, Allied Capital has financed following the entrepreneurs,” Bowie says. approximately $2 billion at the end of thousands of such businesses nationwide. Several Georgetown alumni at April 2005 and a strong and highly liquid “We view ourselves more like a private financial firms in the area say the local balance sheet. equity firm,” says Grisius. “We invest in lifestyle is a prime reason the firms have At the close of 2004, FBR had private companies as owners and we lend developed and succeeded here. “It’s very shareholders’ equity of $1.6 billion and to private companies. To the extent that attractive relative to New York and other assets of $12.9 billion. Its firm-wide we are lenders and providing debt capital,

24 McDonough Business we play in the capital markets. We investments in excess of $4 billion. Fifty- ourselves access those markets to raise three percent of its customers have equity capital as well as debt for our own completed two or more transactions with balance sheet. So in that respect, Allied the firm and 24% have completed at least doesn’t fit neatly into any one box.” three transactions. Grisius notes that while most private Other capital markets firms in the equity firms are established as private Washington area with Georgetown partnerships, Allied Capital’s status as a graduates include American Capital public firm since 1960 makes it unique. “It Strategies, Ltd., a publicly traded buyout gives us some advantages competing in and mezzanine fund; and CapitalSource, the marketplace,” Grisius says. “It means which provides senior loans to small- and that we have permanent capital and a mid-sized businesses through a variety of substantial equity base. Our market cap is financing products. just under $4 billion at this point. Also, John K. Delaney (L’88), co-founder, we have a lower cost of capital than most chairman and CEO of CapitalSource, was of our competitors. Because we are public, the keynote speaker at McDonough we have good access to the equity School’s MBA “Careers Extravaganza” last markets. We can leverage our fund, which September. He serves on the Board of “Without Georgetown, brings our cost of capital down even Visitors at Georgetown Law Center and further.” the Georgetown Board of Regents. With a staff of about 150, including a At all the financial firms, Georgetown my life would be handful of other Georgetown alumni, alumni cite the career benefits they gained Allied Capital is one of the most from their student experiences. Bowie at extremely different and profitable companies on the New York Gladstone Capital, who previously was a Stock Exchange on a per-person basis, Navy pilot, says Georgetown helped him Grisius says. He notes that other firms, “shift gears professionally” when he nowhere near as good like MCG, are modeled on a similar entered the business world, initially at structure. Citigroup in New York. “It gave me the as it is. It was a great MCG has its roots in the banking credibility and connections to get a job at industry. Its business originally was the a big firm, and then the connections to media communications group division of come down here, which is what I always experience for me Signet Bank, based in Richmond, Va. Its wanted to do,” Bowie says. parent, Signet Banking Corporation, was “Georgetown is a huge part of who I and one that I continue acquired by First Union Corporation in am,” says McDonnell. “I feel that I got an 1997 and First Union changed its name to outstanding education there. I learned Wachovia Corporation in 2001 following how to think and reason things through to value every day.” a merger of the two. logically. Also, it’s one of the greatest Michael McDonnel (B’86) MCG was formed by management universities in the world and it carries a and affiliates of Goldman, Sachs & Co. to tremendous reputation that has opened a purchase a loan portfolio and certain other lot of doors for me in business that assets from First Union National Bank in otherwise might not have opened.” a management buyout. MCG became a McDonnell adds that as a student- publicly traded company in 2001. athlete (he played football), “I learned a Now MCG is a specialty financial lot of valuable lessons about teamwork services firm and leading BDC that that have carried over to business,” he supports the growth and value creation says. Further, he met his wife on the strategies of small- to mid-sized Hilltop. companies primarily in the “Without Georgetown, my life would communications, information services and be extremely different and nowhere near technologies industries. Since 1990, it has as good as it is. It was a great experience delivered value for financial sponsors and for me and one that I continue to value operators in more than 415 diversified every day,” McDonnell concludes. financings representing cumulative

McDonough Business 25 corporateprofile Fourth in a series of articles highlighting significant collaboration between the McDonough School of Business and its corporate partners. Friedman Billings Ramsey connections

Friedman Billings Ramsey (FBR) was founded in 1989 when Located in Arlington, Va., FBR has various Emanuel J. Friedman, Eric F. Billings and W. Russell Ramsey connections with Georgetown and the borrowed $1 million and, with 15 other employees, set up shop as McDonough School. “I can look out my window at the Car Barn where the MBAs a research and securities trading firm specializing in the finance are being educated,” says Patrick Steel and real estate sectors. It has become one of the most successful (IEMBA’00), FBR’s managing director of startups in the securities industry in the last half century. investment banking. FBR employs 18 Georgetown graduates full-time. “Without a Today, FBR is a publicly held company with a market capitalization of doubt, it’s the largest concentration of approximately $2 billion at the end of April 2005 and total annual revenues graduates that we have from any single in 2004 of $1.1 billion. It regularly ranks among the top ten investment banks academic institution,” Steel says. in terms of the dollar value of U.S. public equity underwritings. The relationship between FBR and As a firm, FBR also takes pride in being responsible corporate citizens. McDonough provides “considerable mutual Beyond donating to charitable organizations, FBR supports and encourages benefits,” Steel says. For FBR, “there is this terrific source of talented business its employees to participate in community programs. Education for undergrads and MBAs who are being disadvantaged and at-risk children is the main focus of the FBR Charitable Foundation, says Richard Walker, vice president of corporate giving.

Eric Billings of FBR presents a gift of $25,000 to McDonough’s Capital Markets Research Center.

26 McDonough Business educated just blocks away.” He notes perspectives “The School’s curriculum was tough and the that the firm has grown probably environment was very demanding, just like 100% in the last four years and “to working in an investment bank. But the big thing was teamwork. The classes had a lot of meet the demand of that growth, we “I’ve always felt that Georgetown’s focus as a diversity, with students from different countries need to tap into more of the local university has been on teaching and interaction and with different educational and professional with students. I had countless wonderful talent here in Washington.” backgrounds. You had to experiences with professors throughout the time work with people with Meanwhile, FBR offers benefits to I was there. They had real world business different styles in teams McDonough students through “the experience and were under tight deadlines. incredibly thoughtful kind of deep capital markets Getting practice doing and instructive people. knowledge and experience that our that was really To me, that was the valuable.” employees have,” says Steel. “We are most valuable part of my Scott Cottrell (MBA’03) pleased to be able to provide some of experience at the Associate Research Analyst that experience and knowledge to McDonough School.” students who have an interest in a Patrick Steel (IEMBA’00) “The investment banking curriculum within career in the capital markets.” Managing Director, Investment Banking the finance curriculum was extremely strong FBR underscored its relationship with and it has served me well for what I have done the McDonough School in July when “The biggest thing for me at the McDonough since coming out of school. Also, the strategy Eric Billings, one of the firm’s founders, School was working in a team environment, classes and the strategy curriculum supported because everything I do here is pulling together presented a financial gift of $25,000 very well looking beyond the numbers to focus teams, like a research analyst and a client or a on what the real business is.” from the FBR Charitable Foundation to group of bankers and a client or a partner and a Scott Bryant (MBA’03) the School’s Capital Markets Research new account we’re trying to break into. It’s a Senior Associate, Merchant Banking Group Center. It was accepted by Dean team-based approach.” George Daly; David Walker, outgoing Demetrios Diavatis (MBA’97) “There are a couple of things I got from the director of the CMRC; and Lynn Doran, Senior Vice President, Institutional Sales the new director. McDonough School. One is the networking that helped me get this job “Georgetown is so close to us and a lot “It was a relatively small school, which and helped me grow. of our philanthropy is driven by our facilitated access to faculty. The business school There also was the close employees and their interests, so this had a very good faculty, and I assume it still teamwork atmosphere, does today. The small working in multicultural made a lot of sense to us,” says FBR’s class size, the interesting groups and taking that Richard Walker. He adds that “the subject matter and the experience outward.” Capital Markets Research Center is programs that were Michael Blank (MBA’03) right up our alley. It couldn’t fit our made available to Associate, Equity Research corporate profile better.” business students locally were all very attractive.” The gift “supports the fact that FBR is Patrick J. Keeley (B’70) absolutely committed to growing the Group Head and Managing Director, relationship with the McDonough Energy Investment Banking School of Business,” says Steel, who has been appointed to the CMRC’s Board of Advisors.

McDonough Business 27 dividends

Tropaia Awards Professor Finalist for Outstanding Georgetown University’s McDonough School Faculty Award of Business recently announced the faculty Sandeep Dahiya was one of four finalists for award winners from the School’s 2005 Tropaia the 2005 Dorothy Brown Outstanding Exercises. Tropaia is a Greek word that refers to faculty award chosen by the students of a monument in honor of a military victory; the Georgetown. School uses “tropaia” as trophy or award in regards to the Exercises.

This year’s winners include: Faculty research Award— Professor Catherine Tinsley George Houston Classroom Joseph F. LeMoine Award for Undergraduate Many alumni have stepped forward with and Graduate Teaching Excellence— Professor Bardia Kamrad contributions to the new McDonough Dean’s Distinguished Service Award— facility to name a classroom in honor of Professor David A. Walker George Houston. Additional funds at all Peter W. Gonzalez, Jr., Award in Adjunct levels are needed to complete the funding Faculty Teaching—Professor Kevin Welber for the one million dollar tiered classroom that will bare Houston’s name. Professor Tinsley studies how factors such as culture, reputations, negotiator mobility, and To discuss your interest in honoring perceptions of fairness influence how people George Houston, or other naming negotiate and how they manage conflict. opportunities, contact Michael Boyd, Professor Kamrad specializes in (real) options Director of Development, in the Office of pricing and risk management issues in Alumni and University Relations at operations. Professor Walker specializes in Professor Sandeep Dahiya stands with other Dorothy (202) 687-4104 or email at global financial markets and institutions, Brown Outstanding Faculty award nominees [email protected]. applied microeconomics and applied econometrics. To make a gift, see enclosed envelope or go Faculty and Dean’s Fellows Named online to http://giving.georgetown.edu and Professor William Droms welcomes the families, select the McDonough School of Business, students and faculty present at the Tropaia Exercises. Citing outstanding scholarship and Business School Facilities designation. contributions, Georgetown University’s McDonough School of Business’s interim Dean Reena Aggarwal was named new Dean’s Fellows. In recognition of outstanding scholarship, teaching and service, Associate Professor Paul Almeida was named Ann and Thomas Stallkamp Faculty Fellow and Professor Bob Bies was named Joseph S. Sebes, S. J. Faculty Fellow. Professor Almeida’s expertise is in the area of strategic management, with a focus on technology and international business. To learn more about the facility, go to Professor Bies specializes in organizational www.msb.edu/alumni/new_building behavior and leadership. For their significant scholarly contributions, Professors Allan Eberhart, Patti Fairfield, Bardia Kamrad, Cathy Tinsely, Teri Yohn, Rohan Williamson and Lee Pinkowitz were Faculty look on as students are honored with named Dean’s Fellows. Each fellowship lasts Tropaia awards. for two years.

28 McDonough Business alumniconnections* Benefits and Services for McDonough School of Business Alumni

Online Job Postings MBA & IEMBA Alumni Groups The MBA/IEMBA alumni job board is for McDonough MBA and IEMBA alumni McDonough MBA and IEMBA alumni. groups have been established across the For more information, visit the MBA and United States and overseas with a focus on IEMB Alumni website. networking functions, including www.msb.edu/alumni/mba relationships with alumni from other business schools. Other online job postings are also available http://alumni.georgetown.edu through MonsterTrak, Monster.com’s executive site, 6FigureJobs.com, ExecuNet University Alumni Clubs and Degree Hunter. www.msb.edu/alumni/mba/career_service Forty-seven Georgetown University alumni clubs exist worldwide. The clubs serve as an Wall Street Alliance excellent way to meet other university alumni and offer a variety of activities of particular Create and participate in networking interest to McDonough School alumni. Online Community opportunities for financial professionals and http://alumni.georgetown.edu hoyasonline graduating students. Contact the Wall Street Alliance at (212) 074-0884. Visit hoyasonline and update your contact University Alumni Special Services www.msb.edu/alumni/mba/service information, access email forwarding, search The University Alumni Association’s the alumni career network and more! Entertainment and Media Alliance special services include an alumni credit card http://alumni.georgetown.edu through MBNA, alumni travel opportunities Founded by McDonough School alumnus worldwide and low-cost life and medical Alumni Career Services Richard L. Battista (B’89), GEMA fosters insurance. Career Advice From hoyasonline Career and supports career development for alumni Network Members and current students within the media and entertainment communities. Search all Georgetown University alumni Wanted: Writers and talk with alumni who have agreed to www.gema_hoyas.org McDonough Business feature stories are offer advice in selected career fields. You may open to freelance writers. The common also do an Advanced Search by class and Alumni Clubs Career Programs denominator for our articles is that they employer. http://alumni.georgetown.edu The Georgetown University alumni clubs offer career-related programs, such as feature interesting people in the Career Tools workshops and panel discussions featuring McDonough School community doing remarkable work. Our stories focus on Available to Career Network members alumni who have made career transitions. alumni, faculty or students of the (All MBA/IEMBA alumni are members) http://alumni.georgetown.edu McDonough School of Business. We are Access premium research databases, an interested in a broad spectrum of activity exclusive Web search engine covering more MBA & IEMBA Class Programs in and beyond Georgetown University, than 100,000 company job sites and useful Class officers prepare electronic newsletters, including stories that focus on the research, tips on conducting an effective job search. and help in reunion organizing and the scholarship and creativity currently being Enjoy a special relationship between school’s fundraising efforts. Volunteers are done by faculty and students in the Georgetown alumni and Lee Hecht Harrison, being sought for all classes. Contact Robert McDonough School as well as the business located in 50 states and 20 countries. To join, P. Johnson at (202) 687-3738 or ventures, philanthropic contributions and go to hoyasonline and select Alumni Career [email protected]. success stories of alumni in the workforce. Services. http://alumni.georgetown.edu Class Reunions If you have a story to pitch, please send a Global Workplace Reunion weekend was established to celebrate brief query to [email protected]. Tell us An international career management and the 5-year anniversary of classes each June. who you are and what kind of article you development platform for alumni of the Reunion 2005 runs from June 2, 3, 4, 2006. would like to write. world’s top 50 business schools. Join and Undergraduate alumni should contact search a database of international jobs, access Matthew T. Lambert at (202) 687-4336 or salary surveys and discover tips on finding a [email protected]. MBA and IEMBA alumni should contact Robert P. Johnson at job in the world’s key employment markets. http://msb.georgetown.edu/alumni www.msb.edu/alumni/mba (202) 687-3738 or [email protected]. * *http://www.georgetown.edu/alumni McDonough Business 29 alumninotes undergraduate

‘67 ‘86 ‘93 Richard E. Wagman, chair of the Beatriz (Menedez) Tadie and Christian Michael Knaebel has board and chief executive officer of Patrick Tadie (’85) are proud to recently settled into Cologne, G.A. & F.C. Wagman, Inc., has announce that their daughter, Germany and has joined a leading been elected 2004–05 chair of the Christine Maria, has accepted a German advertising agency as a American Road & Transportation spot in Georgetown University’s managing partner. He is still Alumni Notes are accepted on a first- Builders Association. class of 2009. She will be enrolled involved with a couple of projects come, first-served basis because of in the School of Foreign Service. in the German and international space constraints. MBA and IEMBA Patrick was recently promoted to media scene, namely cable alumni should send notes via email managing director in The Bank of television and digital television to the class correspondent indicated. ‘77 Otherwise, email your notes to After a twenty eight year career New York’s Structured Finance programming. He would like to [email protected], or send them to with Ernst & Young, LLP, Mark Division. He manages approximately stay in touch with GU alumni and Editor, McDonough Business, Quinn has recently joined 400 professionals in locations welcomes any visitor to town. Georgetown University, McGladrey & Pullen, LLP where he worldwide. Patrick recently wrote 206 Old North, will be leading the audit practice an article that was published in the Washington, D.C., 20057, for the Massachusetts offices. July edition of International Finance or fax them to (202) 687-2017. ‘94 Law Review entitled, “Trustees and Kenneth Alberto Coto writes: “A We do not accept engagement Technology in Securitization,” or pre-birth announcements. lot has changed over the last 18 concerning the role technology Posting notes on hoyasonline months. After courting Katrina ‘79 plays in the capital markets. Beatriz is another option. Go to Gonzalez (CAS’94) for a long time, Doreen Amorosa, director of and Patrick live in Princeton, NJ www.georgetown.edu/alumni Talent Acquisition at Avaya, led a she finally cracked in July 2001 and click on “My Information” with Christine and their two other workshop at the National while we were both living in New in the upper left corner. children, James and Elizabeth. Association of Colleges & Employers York City. A couple of years on recruitment metrics. Ayava was thereafter, we got engaged and ranked by The Wall Street Journal as moved home to Miami in early a top employer for MBA students ‘88 2004. I’m now working with and was also on the 2005 Carol Hartigan Prince and her Merrill Lynch in private banking Universum Communications “Top husband John are delighted to and Katrina remained with 100 Employers” list. She also helped announce the Aug. 30, 2004 birth American Express and does her improve Avaya’s rank as a desired of their son, James William, joining New York job virtually from Miami. employer on collegegrad.com by ten two year-old brother Jack. Carol is We just bought and renovated a percentage points over one year. VP of marketing and business home, so you’re all welcome in development with RR Donnelley. sunny South Florida.”

Mary Roberts Feichthaler and ‘81 her husband Eric Feichthaler Cynthia Yochum Fessick gave ‘90 (Law’97) have had an exciting six birth to her first child, Andrew John, Vittorio Marcello Corbo and his months. Their son Eric Paul on May 19, 2003. She is taking time wife Francisca would like to Feichthaler, Jr. was born at out of her career to be a stay at announce the birth of their third Healthpark Hospital in Ft. Meyers, home mom and has continued her child. Vittorio hopes to spend more Florida, on October 25th 2004, at athletic pursuits: she is in the quality time with his three children, 10:02 pm. He weighted in at seven Women’s Club Championship at Isabella, Vittorio and Grazia, and pounds, two ounces and is twenty Rivercrest Golf Club. his wife. He has been working inches long. Eric, Sr. became a independently for the past two partner at the law firm of Adams, years, developing commercial real Feichthaler and Brinson LLP on estate projects in transit areas. He March 1, 2005 and was also ‘82 has also been working as a elected mayor of Cape Coral, Dean Sperantsas, an investment consultant and as a director in a Florida on April 5, 2005. Eric has analyst and securities arbitrator few mid-sized companies. become the second youngest with the National Association of person to become mayor of Securities Dealers, has eared the Florida’s third largest city. He took prestigious Chartered Financial office in April for four years. Mary Analyst designation.

30 McDonough Business opened her own CPA firm specializing in corporate taxation in May 2005.

Jesse L. Saglio married Tara Lynn Karpinski of Mattituck, NY on April 23rd, 2005 in a small ceremony in Aqubog, NY. Pete Cyr (SBA’94) A Passion for Business served as his best man. They honeymooned in Tahiti. Shortly Steve Paluszek (B’79) was drawn to business at a thereafter, he joined Evercore young age. Whether riding to deliver papers on his Partners in the M&A group after paper routes or painting houses, he found the seven years at Lazard. concept of entrepreneurial independence and financial rewards of business intriguing. So when ‘95 his father, John Paluszek, encouraged him to take Laurie Ann Berenson writes: “In advantage of the DC location and reputation of addition to being “mom” to Georgetown, he visited the school and promptly fell Caitlin, I’m now my own boss! I’m running a home-based résumé- in love. “Fortunately, I was accepted,” Paluszek joked. writing business, Sterling Career Paluszek’s undergraduate years at McDonough read like a who’s who of the Georgetown Concepts. We’re also expecting our second child this December.” Community. Paluszek lived down the hall (second floor of New North) from current Georgetown President John DeGioia and took classes from George Houston (see ‘96 Bellwether feature, inside back cover). Garth Arevalo has moved from “George Houston had such a passion for teaching and accounting,” said Paluszek. “It felt Los Angeles to Tampa with the Air so good to be in his class, and I appreciate my time with him. He is a wonderful advocate Force. His new position takes him for Georgetown University.” to the Middle East 50-70 percent of the year. He is responsible for a At Georgetown, Paluszek came to understand how fortunate he was to be surrounded by team of contracting officers who a community of leaders which provided for significant personal growth. Spiritually, “the negotiate business arrangement to support the troops in the region. Jesuits affected me in a way that I had a much better understanding about life, respecting He says, “it’s great doing others and helping those less fortunate. That is something I try to remember and practice something you believe in!” each day of my life.” Natalie W. Barthe is still enjoying Paluszek’s relationship with Georgetown is not just a fond memory. The Jean and John life in New York City. Recently, she temporarily retired from Morgan Paluszek Scholarship was established in honor of his parents with the goal of providing Stanley and gave birth to twin assistance to students who otherwise might not be able to attend Georgetown— boys, Brian and Benjamin, in July currently three students are recipients of this scholarship. He is involved in the 2005. Husband Brett is a partner at BBR Partners, an asset management development of the McDonough School community in his position as co-chair of the Wall firm in New York City. Street Alliance and as a member of the Board of Regents. The Wall Street Alliance has

Dale C. George is still living in established a scholarship fund that currently assists ten students each year in attending Maryland. His wife recently gave Georgetown. He also participated in the Board of Governors and chaired the Annual fund birth to their son Ethan in March in the past. 2005. He hopes that all are well, especially the Wild Things from “We must always do more,” Paluszek said. “Respect and help others, and being Village C East. passionate about what you do—your family, your work and Georgetown.” Ryan Anthony Kuder is currently working as a product manager for He is currently a partner at PRB Investors LP, a hedge fund company that focuses primarily eBay, managing global content on small and mid-sized banking companies. Paluszek earned his MBA from NYU’s Stern management systems. He and his School of Business. wife Amanda live in San Jose with their two kids, Ashley (3?) and Jack (4 months). Ryan is training to run the San Francisco Marathon in October and is a mentor for the Leukemia and Lymphoma Society’s Team in Training program. undergraduate

McDonough Business 31 alumninotes undergraduate

Ronald Gordon Rosier gave birth among the groomsmen. Both of Jelena Bosanac decided after rotations, three in L.A., one with a to her second child, Noah Gordon, the groom’s parents graduated working in New York for three non-profit, and three others either on December 24, 2004. Now with from Georgetown, Patricia years, it was time to move back to domestic or international. Each two kids under two years old they Sagurton Machir (C’74) and Europe to be closer to home. She rotation is in a different are pretty busy. Edward Machir (’74). Patrick is a is currently working as a Currency department. Currently, he is in the candidate for an MBA at Penn’s Option Trader at Lehman Brothers Office Services/Leasing Rotation, Gabriel Rabinovici and his wife Wharton School and is in his in London. working on such project as Pamela Friedland Rabinovici would second year. He previously worked business continuity (disaster like to announce the birth of their for five years on Wall Street at recovery), IT infrastructure son Henry Alexander on July 22, Bear Stearns. His wife, Katie, evaluation, leasing, and the 2005 in their current residence of ‘02 works as a regional director of company’s internship program. Geneva, Switzerland. Rupali K. Patel is a 2005 undergraduate admissions at graduate of GW Law School and is Dan Gargan was drafted to the Penn. living/working in Philadelphia. He Colorado Rapids as the 43rd pick Robert Alan Cimperman and says, “if you’re coming through, I’ll in the Major League Soccer Draft. ‘97 buy you a cheese steak!” Patrick Joseph Ball is a second Erika Jones-Trujillo (B’99) were He was featured in a Senior Profile year full-time MBA student at the married on June 21, 2003. They Roger B. Gill is working at Merrill in The Hoya, where he said he University of Michigan, Ann Arbor. live in Fairfax, VA where Rob is a Lynch in New York. He has moved hopes to play European soccer and After seven years in private sector director at an IT consulting into Equity Sales back in April, eventually use his marketing finance, he is using his MBA to company, ExcelaCom, and Erika putting together trading ideas for degree to design commercials for transition into international develops multimedia learning institutional clients. athletic companies. development with a focus on software at IBM for federal finance. In the last three years, he government clients. Rob completed has worked in microfinance and a Masters of Science in the Management of IT at University of ‘03 small business financial consulting Gillian Hearst-Shaw has Virginia in 2005. He also started a in Nigeria, Poland, Romania, launched her clothing line, AnGil. software company that created a Interested in contributing Armenia and the Palestinian She is responsible for business and software testing product called Territories. marketing, while her partner to the new McDonough Screen Scavenger, available at handles creativity. facility? Go to the www.uatsolutions.com. Rob is in ‘98 the exploratory phase of launching Dividends section of the another venture to provide co- magazine on page 28 Jamie Kraska received her MBA branded mobile phone features ‘05 from the University of Chicago to find more information. through non-profits and other Mitch Fox is currently interning in Graduate School of Business in affinity organizations. Frankfurt, Germany with Monitor June 2004. Group, a management strategy Wesley Alan Russell is currently a consulting firm. He’ll join the firm second year medical student at ‘00 full time in San Francisco in September. He is working on a Washington University in St. Louis. Nicole Renee (Roach) Bolisay strategy update for a major was married in April 2004 and Christina Zaloum now works at European health care company IBM Corp. in the Mergers & lives and works in Los Angeles. She Acquisitions group after currently works for McKinsey & Michelle Smith works in D.C. as a completing her MBA at Columbia Company and loves it! dispute associate for Deloitte in 2004. Financial Advisory Services. She’s particularly interested in anti-money- ‘01 laundering programs, and her most Emily (Main) Ballard and recent project involved reviewing ‘99 one company’s compliance with Patrick Machir was married on Michael Ballard (C’00) announced those laws prior to being purchased August 6, 2005 to Catherine the birth of their first child, by another company. (Katie) Herbst in New Vernon, N.J. William Francis, on Sept. 29, His brother, Tim Machir (C’05), 2004. The family currently resides Vlad Vojnovic works in L.A. with served as Best Man and Paul in the rocky mountains of Denver. American Funds in the company’s Quinlan, Tim Fitzsimmons and Global Rotation Program. He John McBride, all ’99 grads, were begins with seven four-month

32 McDonough Business alumninotes mba

Keep in Touch

‘83 ‘89 ‘95 We encourage all business Barry Khan, owner of A-1 Foam Jaime Vasquez was named the Rich Sherman writes: “As Tony school alumni-undergraduate, and Fabrics in Santa Ana, CA was 2005 recipient of the National Corsello mentioned on the featured in The Orange County Society of Hispanic MBA’s GUMBA web site, we ran into MBA, EML and IEMBA-to send Register for his involvement in the Corporate Executive Brillante each other in Chicago, late in the your news and photos to us or Cal State Fullerton student Award. The award is the most evening, as I was searching to to your class correspondents. consulting project. He accepted an prestigious honor granted by the meet up with some colleagues at We do not accept engagement offer from the University to host Society, and is given to a bar. I did not recognize Tony at five MBA students, who developed outstanding leaders whose work first, but he looked like the kind of or pre-birth announcements. a 500 page study detailing how and contributions reflect the guy who would know a lot about Send your news to one of Khan’s products, a custom Society’s mission “to foster bars. It was fun catching up with [email protected]. foam mattress, could become a Hispanic leadership through him, even if it was just briefly. separate, full-time retail business. graduate management education Also, my wife Jennifer Herron and Moved? New job or promotion? and professional development in I took a trip to Geneva this Update your own profile or order to improve society.” summer in June and spent the ‘85 weekend with Rafe Slattery and search thousands of Douglas S. Knopper, formerly his wife Tania and their 15 month undergraduate, MBA and Senior Vice President and General ‘90 son, Aiden. Rafe seems to be IEMBA alumni by geography, Manager at DoubleClick, has joined Lorraine Herr would like to doing great, and is working for industry, program, year of the commerce platform provider remind the class of 1990 to send the World Health Organization in BitPass as CEO. their information to lherr@herr- Geneva. Their son is awesome, a graduation, position, or design.com. very cute little blonde-haired kid. other criteria at Finally, also, I found out that Lori http://www.georgetown.edu/ Eileen Louise Utter was married Greiner and her husband Neil had to Mr. Jeffrey Loustau on February a baby girl in January, named alumni. 12, 2005 in San Francisco. Fellow Neve. I’m hoping to catch up with MBA’90 classmates Libby Powell her next time I am in the Denver and Monte Carlo were on hand for area.” the celebration. Kevin Wrathall left Oracle to Mary Beth Lyons passed away on start a degree program in Oriental March 16, 2005. She is survived by Medicine. He lives in Portland, her husband Steven and daughters Oregon with his wife and five year Katie and Maegan Warner. old son. ‘87 Tony Corsello writes: “Our son, Harvey Chimoff has joined the Pace Anthony, was born on March Tate & Lyle Global Marketing Team ‘93 25, 2005. He joins brother Marek Taylor Travers Simmons currently as Director of Marketing. He will (5 years old) and sister Helena (20 works for XM Satellite Radio. His support the senior management months). My wife Laura and I are prior jobs were with Winstar team, lead the overall marketing still enjoying life in Seattle, WA Communications, Simmons efforts, as well as work with the where I am a Vice President with Associates, Go Communications Sales and Research & Development Washington Mutual.” Corporation, and Information teams. Prior to joining Tate & Lyle, Gateways Corporation. He married Scott Shore wrote from Balad, Harvey co-founded and managed Ellen McPherson in 1994 and their Iraq. He says it was “Friggin’ hot”, Primos Trading Company, LLC. He daughter Alexandra Simmons was but the weather is starting to cool. has also held a number of executive born in 1998. He greatly enjoyed His unit is a transportation unit positions within Unilever North seeing so many of his MBA supporting logistics operations in America and was a senior classmates at the 10-year reunion. Iraq. The fun part is being with consultant at Langberg, McHugh & soldiers, as well as the free movies Company. and the facilities that are open 24 hours such as the pools, the gym and the “morale tent” (think of a

McDonough Business 33 alumninotes mba

big rec room). He has it better off, Antal and Cheryl Stevens Logan as a healthy 8lbs, 1.8oz and being part of the logistical forces Runneboom celebrated the birth of 20 inches long. Alisha is reported than some of the smaller bases their daughter, Ella Julianna Maria ‘00 as doing very well, and both are David Alexander Sommer writes: that are out in “Indian Country.” Runneboom, on June 3, 2005. The adjusting just fine to having a “After 4 years at Continental “Those Soldiers are constantly family lives in New York City. daughter waddling through the Airlines in Houston, I resigned to dodging explosives, mortar rounds, home. Their first child, their dog David Miers joined Roland Berger travel around the world for seven heat, and crawly things: theirs is a Callie, is reported as taking Strategy Consultants after months. I spent 2/5 months each in much tougher job.” He said that everything in stride. Cliff is completing his MBA in 1998— Africa and Europe, plus another the downside is missing his two currently a Director at The Advisory firstly based in London, England two months in India/Tibet/China. daughters, Alexandra and Victoria, Board Company and can be and then in Berlin, Germany. From Overall I hit 40 countries in 30 who are five and two years old. reached at [email protected]. September 2005 CEO of Cirrus weeks. I just got back, and now I’m Scott will be in Iraq for a year, Airlines, based in Saarbrücken, getting ready to start working for Antonio Sierra was featured in a along with about 200,000 of his Germany. Sabre Airline Solutions as a Businessweek article highlighting closest friends. Revenue Management consultant. the responsibilities of an MBA in Andrea Stueve Stokes has I probably will be living in Atlanta. an asset-management firm. The moved on to a new position at I am expected to be on the road article, called “Keeping an Eye on Synovate, one of the largest ‘96 three weeks a month. My email is the Data,” can be seen online at market research firms in the world, Carole Banks Russo was recently [email protected].” http://www.businessweek.com//bsc after six years as Director of promoted to Business Development hools/mbapremium/aug2005/bs20 Research at the Travel Industry Manager at the International 050812_3608_bs046.htm. Consumer Electronics Show (CES) Association. Her position is Vice in Arlington, VA. The largest President in Synovate’s Travel & ‘01 Antonio noted that he was going Stephen Tansey was featured in a tradeshow of any kind in North Leisure practice, where she will be to hit the road to promote his new New York Daily Record article America, CES had 142,000 doing business and product article, but he was bumped from entitled, “Moment with a attendees, 2,500 exhibiting development. She and her Leno when Justin Timberlake made Manager: York Container COO companies, 1.4 million sq. ft. of husband had a daughter, named a surprise visit. Antonio recently Thinks Outside the Box.” Tansey exhibit space with representatives Isabelle after her grandmother, in accepted a position with The Rock discusses his successes and failures, from 110 countries! This means October 2004. Creek Group (formally Carlyle his family and his mentors in the her two-year-old daughter Isabella Asset Management Group, LLC) in February 2005 article. has quite a doll collection from Washington, DC and can be around the world. ‘99 reached at [email protected]. Paul Kates and his wife Ilene Scott Bryant recently joined welcomed Noah Andrew Kates ‘03 Washington, DC based Pine Creek into the world on July 21, 2005 at Peter Gasca, Class Correspondant Partners on November 7th as a ‘98 [email protected] Eduardo N.T. Andrade (MBA/JD) approximately 12:52 PM. Noah Principal. While the position was named to the Board of weighed 9 lbs, 1 oz. and measured At long last, Cliff Johnson and his offered substantial health benefits, Trustees of the Westport Public 21 inches. The family is still living wife Alisha welcomed their new increased responsibilities, broader Library. He is vice president, in Manhattan, getting ready for a daughter, Logan Bane Johnson, visibility, and a bump in pay, Scott associate general counsel for move to Livingston, NJ. Paul is into the world on Saturday, has stated that the main reason he Priceline.com, Inc. and is a trustee currently employed at Lucent September 3rd at 5:39pm. And accepted the position was the and chairman of the executive Technologies as an Account although a girl never reveals her location, “a dangerously close walk committee for the Rectory School Executive focused on the services weight, Hollywood tabloids report to the Tombs and the Waterfront.” in Pomfret, CN. side of business for Verizon. Paul Scott started his new position two keeps in regular touch with fellow days after the first birthday party Diana Cortes married Kent Ostling MBAs Marcelo Teixeira, Trey of their daughter, Sadie, a late in Bogota, Columbia on July 30, Harvin, Lana Simkina and Yizhi night extravaganza featuring 2005. They will reside in Stockholm, Wang. copious amounts of applesauce. Sweden, where Kent is from. Scott lives with his wife, Lori, and Scott and Katherine Schwetman Sadie in Landsdowne, VA and can Rosen are the proud parents of their be reached at son Jack who was born March 15, [email protected]. 2005 in San Francisco, CA.

34 McDonough Business Georgetown MBA Students and BearingPoint Consultants Team Up to Assist Local Transitional Housing Organizations

wo Washington DC non-profits that assist homeless families in the transition to permanent housing, the Transitional Housing Corporation (THC) and Samaritan ‘04 Ministry of Greater Washington (SMGW), asked BearingPoint to assess its business Sam Akintola moved back to T and the programs offered through its residential facility in Northwest Washington. London from July 2004 to June 2005, and is now living in Paris, BearingPoint assembled a team of BearingPoint staff and Georgetown University MBA France. Contact information is on students to address the client’s needs pro bono. The team included four BearingPoint Hoyasonline. consultants (Donna Bernier, Brian Fitzpatrick, Jamie Baker (MBA’02) and Robert Wong Woo Suk Chang moved back to (MBA’02), 4 MBA students ( Joshua Cook (‘04), Anuvrat Joshi (‘05), Yeqing Li (‘05), Seoul, Korea, and works at Korea Investment Corporation, where he and Ameeta Patel (‘05), and Georgetown Professor Richard America. manages Forex Reserve of Korean government. Working closely with BearingPoint, the students had an opportunity to experience first hand many of the opportunities and challenges of a consulting project, from interacting with clients to completing data analysis with limited information and under tight deadlines. In addition, students were introduced to BearingPoint’s approach to managing projects and delivering high quality professional services.

The team evaluated the suite of services that THC and SMGW offer to residents of its Partner Arms I facility in Northwest Washington, compiled a historical snapshot of THC and SMGW’s past performance and developed recommendations for future improvements and growth. The team based its analysis and recommendation on interviews with program staff, Hiring? residents, and volunteers, and an analysis of historical data. In addition, the team compared Think Georgetown. the Partner Arms I’s services with the strategies and practices employed by other transitional

If you are recruiting housing service providers in the Washington area. for internships or full-time The team found that THC and SMGW have achieved a strong track record of success positions, hire a Hoya. through well-established processes and careful case management services. Looking forward, the For MBA students, team presented a number of recommendations to improve methods of measuring performance, contact the MBA Career to strengthen programs offered to its residents, and to better articulate and promote its Management Center at achievements. The students’ support and participation were greatly appreciated, and the (202) 687-3741 or results of the evaluation were well received. Currently, THC and SMGW are developing a www.GeorgetownMBAcareers.com. strategic plan to implement many of the recommendations that were made by the For undergraduates, BearingPoint-Georgetown team. contact J. Michael Schaub More information on Transitional Housing Corporation: in the MBNA Career Education Center at (202) 687-3493 or More information on BearingPoint, Inc.: [email protected]. www.bearingpoint.com

McDonough Business 35 alumninotes iemba

‘02 Andrew Tichenor has relocated from Herndon, VA to Washington, DC. ‘05 A Strategic Move Eric Kessler was featured in When David Chavern (IEMBA’03) entered the IEMBA 8 The Washington Post for his firm’s class, he was “the classic guy juggling a lot of balls: two work with the distribution of funds young kids and a wife who is a full-time doctor taking to non-profit organizations. He founded Arabella Philanthropic lots of calls.” But by the time he graduated in 2003, he Investment Advisors, LLC to help had become a master of time management and learned families and corporations with that “you can teach an old dog new tricks.” foundations to distribute money wisely. While the unique schedule and international focus of the IEMBA program was what initially drew Chavern to Georgetown; he found the challenge of expanding his academic horizons personally fulfilling.

“My most memorable Georgetown experience was our business plan residency,” he said. “We had to do a plan for a new company and present it to a group of venture capitalists; it was difficult, challenging but at the same time, really rewarding to get that interaction between our studies and real business people. It was a good dose of reality.”

As the Vice President and Chief of Staff at the U.S. Chamber of Commerce, where strategic thinking is the majority of his job, Chavern finds Paul Almedia’s and Stanley Nollen’s strategy classes “extremely valuable.”

“The quality of education regarding strategy is of a national caliber. In the D.C. area in particular, most people are dealing with services and strategic issues of one kind or another,” Chavern notes, “This is a services business town. In my career, and in D.C., the Georgetown University degree really stands for something.” iemba

WANTED: WRITERS

McDonough Business feature stories are open to freelance writers. The common denominator for our articles is that they feature interesting people in the McDonough School community doing remarkable work. Our stories focus on alumni, faculty or students of the McDonough School of Business. We are interested in a broad spectrum of activity in and beyond Georgetown University, including stories that focus on the research, scholarship and creativity currently being done by faculty and students in the McDonough School as well as the business ventures, philanthropic contributions and success stories of alumni in the workforce.

If you have a story to pitch, please send a brief query to [email protected]. Tell us who you are and what kind of article you would like to write.

36 McDonough Business SPECIAL REPORT: Orphanages Benefit from IEMBA Students’ Generosity

hen Professor More research into the The IEMBA class of 2005 Bardia Kamrad orphanage revealed that the found themselves back in Wtraveled to Franciscan brothers received Puebla, Mexico when visiting Puebla, Mexico with the no government aid and what the VW plant. They raised IEMBA class of 2002, he there was in the way of over $5,500 for the two began a tradition that still support came sporadically, orphanages and brought the continues today. often through individuals who children toys, personal care had lived at the orphanage at items and toiletries. Their During the IEMBA’s Mexico one point in their life. generosity deeply touched so residency, Professor Kamrad many people’s lives. inquired about possible “I was confident that we, orphanages in the area. One at Georgetown, could make a This year, not only will of the hotel personnel provided difference,” Kamrad said. IEMBAs be helping in Peubla, the needed information. but here in their own back With some advanced yard of Washington as well. “On the way out to see and planning, a year later when it learn about the orphanage, was time for the IEMBA “The momentum has “I was confident one of the students, class of 2003 to go, they had continued in the IEMBA Phil Hagan (IEMBA’02), raised over $3,000. These program, and we have goals that we, asked me where I was headed,” monies, along with gifts of of buying beds, water heaters said Kamrad. “I told Phil, toys, were split between the and paint in the upcoming at Georgetown, never mind—let’s go, and boy’s orphanage and a newly years,” said Professor Bardia you’ll see!” found girl’s orphanage, which Kamrad. The generosity of could make housed fifty girls under the our students makes them And before long, Professor age of 12. stand out beyond the Kamrad, his student Phil, a difference.” classroom and brings to life and their guide Gabriel were “The impact these gifts make the goodness in a business Professor Bardia Kamrad in a cab on the way to the is huge,” noted Kamrad. “I education.” outskirts of Puebla. am so grateful to have come across individuals with big “The neighborhood was as hearts such as the IEMBA I had anticipated, but students. They are willing to expectations and reality work and plan to help make don’t always merge easily,” life a bit easier for another remembers Kamrad. “I was human being.” struck by the amazing poverty of the general area as well The IEMBA class of 2004 as by the Franciscan-run raised close to $2,000 for two orphanage that housed about orphanages in Mexico City, fifty young boys. You must which was the location of see it to understand the their residency. One of these gravity and the depth of orphanages cared for children their poverty.” and infants with AIDS, while the other served as more of an educational facility.

McDonough Business 37 Reunion MBA class of ’85

embers from the MBA classes 1985, 1990, 1995, 2000 and the IEMBA class of 2000, returned to Georgetown June 3rd to 5th for the 2005 MReunion. About 170 alumni, spouses and guests attended the Reunion weekend and participated in a weekend of alumni events around campus. MBA and IEMBA Reunion Class Chairs: John and Susan Roy, MBA’85, David Burke, MBA’90, Scott Shore and Alison Van Dyke, MBA’95, Shane Hartzler, MBA’00, and John Kevill, IEMBA’00, organized and led their respective class reunion efforts.

MBA and IEMBA alumni came from across the U.S. and abroad for the chance to reconnect with each other, to revisit Georgetown, and to attend the Friday night Dean’s Reception and Class Parties, as well as the Saturday night Reunion Dinner at the Four Seasons Hotel in Georgetown. The two alumni who traveled the farthest were Faidi Aabidi, MBA’95, and Faysal Hamza, MBA’95, who came from Saudi Arabia for the Reunion.

38 McDonough Business MBA class of ’95

Highlighting the Four Seasons Dinner was a presentation by Professor Pietra Rivoli on her recently published and widely acclaimed book, “The Travels of a T-Shirt in the Global Economy.” Keith Ord, Dean of Faculty, also gave remarks during the dinner on the many positive developments taking place at the McDonough School. Recent developments include the arrival of a new Dean, the launching of the two new academic programs, the MBA Evening Program (MBA-EP) and the Executive Master’s in Leadership (EML), and the planned construction of a new 188,000 square foot Business School building.

McDonough Business 39 Class of 2005

McDonough School of Business graduation events took place from May 19-22. The graduation ceremony began with Senior Convocation in the McDonough Arena on May 19. On Friday, the McDonough School of Business gave Tropaia awards of leadership to students and faculty, followed by the Senior Ball in the evening.

Three hundred and seven Captions top to bottom, left to right undergraduates graduated at Faculty, staff, students and families The McDonough School of gather in the Healy Courtyard for Business Commencement the Dean’s Reception.

Ceremony, held on Healy Lawn MBA students process to the on May 21. One hundred and commencement ceremony. thirty five of those graduates The Undergraduate speaker received academic honors. The Eugene S. Kahn addresses the MSB Commencement speaker was class of 2005.

Eugene S. Kahn, former Undergraduate students of the Chairman and CEO of May McDonough School of Business Department Stores. The prepare for their graduation day. ceremony was followed by the MBA class of 2005 listen as their Dean’s Reception. commencement ceremony begins. The Master’s of Business An MBA student receives her degree. Administration program Student speaker at MBA graduated 244 students. The commencement. speaker was the Honorable Student celebrates graduation.

Francis A. Keating, President Interim Dean Reena Aggarwal and CEO of the American addresses the Class of 2005. Council of Life Insurers and the former Governor of Oklahoma. Alma Mater Forty seven students graduated Hail, oh Georgetown, Alma Mater, Swift Potomac’s lovely daughter, from the IEMBA program on Ever watching by the water, April 23, 2005 at 4 p.m. Paul Smile on us today; Almeida was given the Now her children gather ‘round her, Lo, with garlands they have crowned her, Outstanding Teacher award, Reverent hands and fond enwound her, Ilkka Ronkainen offered the With the Blue and Gray. Faculty address to students and Wave her colors ever, Furl her standard never, Reena Aggarwal gave the But raise it high, Dean’s Address to students. Ten And proudly cry, “May Georgetown live forever” students were inducted into the Where Potomac’s tide is streaming, Beta Gamma Sigma honor From her spires and steeples beaming society. See the grand old banner gleaming Georgetown’s Blue and Gray. Throned on hills beside the river, Georgetown sees it flow forever, Sees the ripples shine and shiver, Watching night and day, And each tender breeze upspringing, Rarest woodland perfumes bringing, All its fold to fullness flinging, Flaunts the Blue and Gray. Robert Collier 1894

40 McDonough Business Bellwether one who leads or initiates George R. Houston (B’61)

George Houston’s familial connection to there until June 2003 when he became Former Alumni Activities: Treasurer of Georgetown goes back much further than his President Emeritus and also received an the University, treasurer of the National first year here in 1956. “My family has been honorary degree. Although now “retired,” he Alumni Association and treasurer of the associated with Georgetown since its continues a prodigious volunteer schedule, Washington Alumni Club. Houston joked, founding: my maternal grandfather, many serving on almost a dozen boards and “the only one of the organizations that had generations ago, was Notley Young, a cousin foundations including the Council of any money was the Washington Club.” of John Carroll,” Houston notes. Independent Colleges and the Foundation Life as a Georgetown Professor: “During for Independent Higher Education. Alumnus and long-time Georgetown professor my undergraduate days, I had substituted for a and administrator, George R. Houston (B’61) Professor Houston also serves on the faculty member,” Houston said. “Thus, I was has returned to his DC roots and to exemplary Accreditation Committee for the Middle bitten by the teaching bug. In those days, the volunteer service to the University and the States Committee on Higher Education and faculty was part time, so I combined the McDonough School of Business. the NCAA Recertification Committee. He practice of accounting with the teaching of rejoined the McDonough School of Business accounting. I brought ‘real life experiences’ into Professor Houston taught accounting to Board of Advisors in the fall of 2003, and the classroom that made the introductory generations of Georgetown students and immediately agreed to lend his support to the accounting course more interesting.” received numerous teaching awards and honors, fundraising efforts for the new McDonough including an honorary degree in 1982 from Family: Houston’s 87-year old mother lives School facility. This campaign has raised over the University and the Distinguished in the metropolitan area as well as one sister $70 million through September 2005 toward Professor of Accounting Award in 1992. and her family. He has another sister in a goal of $82.5 million. He also received the John Carroll Medal in North Carolina and a brother in southern 1981 and the Alumni Admissions Program Career Highlights: “Of course, highlights California. Award in 1992. include my 33-year teaching career at Hobbies: Professor Houston’s biggest hobby Georgetown,” he said. Houston also Houston returned to Georgetown on a part- is reading novels, biographies and histories. commented that he had a wonderful time time basis as an adjunct lecturer in accounting serving as president of Mount Saint Mary’s Affiliations: Currently serving on the the year after he graduated. He accepted a full- College and Seminary. During his second boards of trustees/directors of the College time faculty position in 1966 and was a year at the Mount, he taught an introductory of Notre Dame, the Catholic Distance McDonough faculty member and administrator accounting course that used the same text University, the Woodstock Theological until 1994. During that period, Mr. Houston book he had used at Georgetown. But his Center, the Marion and Henry Knott also served as treasurer (1970-92), vice classes at the Mount had only fourteen Scholarship Foundation and St. Mary’s president for financial affairs (1974-90), senior students; at Georgetown they had over 100! Ryken High School. He is a member of vice president and treasurer (1990-92) and the Finance Council of the Diocese of managing director of the endowment fund Education: Graduated first in his class at Arlington, Virginia, a member of the (1992-1994). During his administrative tenure, Georgetown, where he was a member of Financial Advisory Committee of the he played a major role in the growth of Beta Gamma Sigma, the Business Honor Maryland Province of the Society of Jesus, Georgetown’s endowment fund and he Society. He wanted to study accounting. and a member of the DeMatha Catholic introduced “three campus budgeting,” a process “Georgetown had the best accounting High School Advisory Committee. requiring each of the university’s academic program coupled with a liberal arts campuses to produce a “break-even” budget. education,” Houston said. In addition to his His View of the Value of Business undergraduate degree from Georgetown, Education: Houston states, “There is no But these accomplishments are not the side of Professor Houston holds an MBA from question that businesses drive the economics Georgetown that Houston remembers. “My George Washington University and is a of the nations of the world. And there is most fond Georgetown memory clearly is my Certified Public Accountant, having achieved no question, as we have seen far too often, relationship with thousands of students,” he the highest score on the CPA exam in the that some business could have been better said. “It was a privilege to share a classroom District of Columbia in 1961. managed if they had paid attention to with them and now to see how successful they ‘values.’ A ‘value-oriented’ business have become. Their success made all those Current Alumni Activities: Member of the education is precisely what Georgetown Sunday night reviews very worthwhile.” Board of Advisors of the Business School, offers. By supporting Georgetown, we are member of the Washington Alumni Club He became President of Mount Saint Mary’s supporting values in business.” and fundraising for the new business College and Seminary in 1994 and served school building. McDonough Business c3 Save the Date! June 2, 3 and 4, 2006 Reunions Planned

For more information ’56

Undergraduate Alumni Matthew T. Lambert ’61 Director of Class Advancement and Parent Programs (202) 687-4336 ’66 [email protected]

MBA and IEMBA Alumni ’71 Robert P. Johnson Director of MBA & IEMBA Alumni Programs ’76 (202) 687-3738 [email protected] ’81 ’86 ’91 ’96 REUNIONS ’01 2006

Georgetown University Non Profit Organization the mcdonough school of business US Postage Box 571147 PAID Washington D.C. Washington, D.C. 20057-1147 Permit 3901