Spring 2010 Newsletter

Club Activities

Letter from the President 2 Executive Committee 2 2009 Joseph Wharton Awards Dinner 3 Wharton Alumni Business Plan Competition 2.0 6 Take the Call Forum 7 2009 Joseph Wharton WCNY has a New Office 7 Jack Huang Migrates Mountains 18 Who do I introduce first 20 Board of Directors 21 Penny for Your Thoughts 21 Join Today! 23 Awards Dinner WCNY Calendar 24

Alumni Spotlight

Thanks for Making the Call 8 Using Social Media to Sell 10 A “Personal” Approach … 16

Alumni Working in

Wharton Alumni Electrify the Northeast 12 The Breakthrough Strategy 13 Success Will Find You 14 Energizing Wharton Alumni 15

Wharton Club of New York | Spring 2010 | www.whartonny.com Executive LETTER FROM Comittee • THE PRESIDENT President Kenneth Beck—WG’87 s you know, you are auto- Wharton alumni have blazed paths Beck Enterprises matically a member of the everywhere, including in an industry [email protected] Wharton Club of New York that is getting increasing attention byA virtue of the fact that you graduat- and excitement these days. These Executive Vice President ed from Wharton and live in this area. four interviews of high-powered George Bradt—WG’85 It is up to you whether you take ad- leaders in the energy field share their PrimeGenesis Executive Onboarding vantage of this significant asset that career paths and insights into their [email protected] you have earned with your degree. work. Look to future issues for inter- Vice President, Finance views of executives in your industry! Rosemarie Bonelli—WG’99 As you will read in this newslet- Chartis International Surety and ecoPractice ter, the WCNY enables you to find We always like to highlight the vol- [email protected] anything you need from capital for unteers among us and to share how your business to investment oppor- they are facing the successes and Vice President, Marketing & Communications tunities; from career opportunities challenges in their careers. Jennifer Peter Hildick-Smith—WG’81 to growing your skills; from busi- Gregoriou, W’78, has been a great Codex-Group LLC ness leads to connections with fel- friend to the Wharton Club, and this [email protected] low alumni in your field; and from interview shows how she is a friend Vice President, Business Development intellectual stimulation to interaction to others as well. Robert Boyd—WAM’06 with other leaders who are sharing Boston Street Advisors their thoughts. You can learn more Jack Huang, MSE’03 did migrate [email protected] about each of these areas in the pag- mountains … of data! It is good to es of this newsletter and on our web see the work of this unsung hero her- Vice President, Career Development site www.whartonny.com. alded, because it directly helps you Alan Riffkin—WG `94 in your daily life. Find out how! Lazard Frères & Company LLC This issue begins with highlights [email protected] from the Joseph Wharton Awards It’s never too late to learn. If you Vice President, Programming Dinner in October 2009, honoring missed our latest Speaker Series Regina Jaslow—W’97 four fellow Wharton alumni who event, on how to behave in business, The Penn Club of NY significantly impacted their indus- you can read about it here. [email protected] tries. The entire evening was superb, thanks to the attendees, our diligent Lastly, please check out a few ex- Vice President, Volunteer Services volunteers and the fine team from amples of our TAKE THE CALL Diana Davenport—WG’87 Global Events. (http://www.whartonny.com/forum. The Commonwealth Fund html) forum on the page seven. The [email protected] I cannot tell you (well, actually, I can secret to our continued collective WCNY Manager and am telling you) how excited I success is: Wharton Alumni should Stephanie Shaw am to have offices for our club. Ev- buy from Wharton Alumni, Whar- [email protected] erything in one place, including your ton Alumni should hire Wharton addresses! Alumni, Wharton Alumni should Newsletter Editor help Wharton Alumni and if a fellow Kent Trabing—WG’01 Rabbi Eric Lankin, W’78, is a good alumnus calls… you take the call! It USP Development LLC example of someone who connected is this enlightened self-interest that [email protected] to alumni through the WCNY in a is the ultimate power of the Wharton • way that made sense to him. Read community. this article to understand his motives Wharton Club of New York and moves! The Wharton Alumni Network con- 1560 Broadway, Suite #1011 tinues to be your most powerful tool New York, NY 10036 • USA Our Chairman, Nigel Edelshain, for business, social, career, and intel- Phone: 1 (212) 463-5559 WG’93, is also giving back, sharing lectual growth. Use it! Take the Call! Fax: 1 (917) 464-5977 his secrets with you on how to move Email: [email protected] Web: www.WhartonNY.com your personal brand or company. — Kenneth Beck, WG’87 © 2010 Wharton Alumni of NY. 2 All Rights Reserved A w a r d s 2 0 0 9 3 , , for .com this communitythis community rd wa a difference.” a difference.” y .whartonn A ton , make , make www vedved olol people in people in accomplished accomplished , W’65 Weiss, A. — George Social Impact George Weiss received the Joseph Wharton Award for Social Impact, which is bestowed on who have made the greatest impact Wharton in public service, so- alumni shared that, “When Weiss cial enterprise or philanthropy. I was age 12, waiting tables at Kenmore Boston’s Hotel, me asked University Boston from business of professor a go to wanted I him told I life. in later do to wanted I what have to go into business. He looked at me and said, “You and so, did Weiss Business.” of School [sic] Waton the to while at school, he made a pact with God. “If ever You give me the financial wherewithal to make a difference, I will do what I can to help the poor through education, I will help my university, and through largely I his, kept will Weiss help pledge, a my such make religion.” Many his organization, Say to Yes Education. Since its - found complete students 740 over helped has Weiss 1987, in ing their high school and college education. In addition providing financial to support, he is accessible to the stu- dents as they take up the challenge to achieve. Showing ment. You taught ment. You me the values that I still believe in to- day.” Fluhr received the 2009 Young Leadership, which honors Joseph Wharton alumni who, Wharton Award early for in their careers, demonstrate the greatest potential for Wharton credits Jeff impact. lasting and leadership for giving him not only a sound business education, but also in-class entrepreneurial experiences, two of which were precursor online businesses: one in the greeting cards domain and the other an online restaurant ordering service. Fluhr at- tested, “Penn gave me my first two key employees, and Wharton gave me the building blocks to be suc- cessful with Jeff led StubHub until sell- StubHub.” ing it to eBay in $300 million. 2007 for Whar Joseph , , inv inv , stay , stay - - - - vedved Jon M. olol talented talented , , Winners Winners Never oung , get inv, get inv with brightwith bright Cheat (Wharton School Publishing), that it is “the his book valleys of life that shape a success secret, found in our adversity; adversity of of many, Huntsman shared life that shapes our integrity; our shapes that life time time the current economic hardship hardship economic current the and the integrity of life that to grocery stores. Reflecting on r Y rd for wa makes us the people we are.” career upon graduation selling eggs York | Spring 2010 | York Club of New Wharton . So. So things happenthings happen A ton

spend spend you you , WG’87, the President of the of President the WG’87, Beck, Kenneth

are going to hear four special stories from four four from stories special four hear to going are ou amazing alumni. When you hear those those stories, amazing things that Jeff, George, Robert “When “When amazing amazing 2009 Joseph Wharton Wharton Wharton Joseph Joseph Joseph 2009 2009 2009 Dinner Dinner Dinner Awards Awards Awards Y Jeff Jeff Fluhr, the cofounder of thanking StubHub, his mom began and dad. his “StubHub’s success talk would not have been possible without your positive reinforce r, W’96, EN’96 Leadership — Jeff Fluhr, Whar Joseph ee and recent chairman of the Wharton School, began his began School, Wharton the of chairman recent and ee , W’59, as well as our debonair host, CNBC’s W’59, as well Huntsman, as our debonair host, CNBC’s acces- all were honorees the Encouragingly, Griffeth. Bill sible. honor past Chair, Event our Huntsman, Jon example For The cast of luminaries was indeed as bright and accom ened self-interest to keep our alumni community strong. accomplished talented, bright, with time spend you When people in this community, amazing things happen. get So, involved, stay involved, make a words, these difference.” With Joseph 2009 the commenced York, New of Club Wharton Dinner, held Awards Wharton on October 1, 2009 at the 59th Street. handsome Jumeirah Essex House on very the attracted and anywhere, find could one as plished leaders of the Wharton and Penn community, including Wharton Dean Tom Robertson, University of Pennsyl- vania President Amy Guttman, and Event Chair and Ralph have done, just remember you are all Wharton all are you remember just done, have Ralph and have alumni! a and We in responsibility, it’s our enlight A w a r d s 2 0 0 9 community, October2009.” alumni Wharton the from gratitude sincere Awardswith Dinner, Wharton Joseph the resurrecting in dedication and vision your for Beck, Ken to presented contribution, outstanding of recognition “In inscribed, plaque to a presented Ken Bass recognition. and level that achieved largely has it and dinners, business AwardsAcademy of the be to event the wanted Ken that explained He Ken Beck. dinner, awards the reinstituting of conceived who person the to award unscheduled an announced com- mittee, awards the of chairman the W’73, Bass, Arthur A Surpise A Associates, 40are Wharton alumni. George firm, Connecticut, Hartford, Weiss his at ployees bring bright Wharton people together. Out of the 208 em- Weiss believes that amazing things can happen when you $80 millionto Wharton, including$20millionthisyear. over given has mater, Weiss alma his in confidence his lh wo ae n cet ies n cet vle from these ideas.” value create and ideas create and take who Fluhr community.Jeff the like for And much so Weissdo who George like models role Wemore performance. need cal ethi and legal economic, of test the meet that companies built who Roberts Ralph and Huntsman Jon like business leaders more have to need We more. do to need “We Then, Kapito implored those gathered at the event to lead. study! School case study.” It looks like it will be a favorable case case study. And if we fail, we will be a Wharton Business School Business Wharton a be will we management, der Barclays and BlackRock, which would put $3 trillion un- he told his team, “If we are successful in the integration of that said Kapito business.” management money the of ry moment, “undertaking the largest acquisition in the histo- that at was, team his that shared Kapito deserving. more Kapito, for yet he emphasized that his colleagues at BlackRock were tailor-made seems award The society. and 4 ward! ad o laesi i bt business both in leadership of dards Wharton ClubofNe w York | Spring2010 | Joseph Whar h ebd te ihs stan- highest the embody who for Leadeship— rsne t Watn alumni Wharton to presented Rober wr fr edrhp is Leadership for Award firm. The Joseph Wharton Joseph The firm. n ast management asset ing Pres- the is Kapito Robert ags ad fastest-grow- and largest world’s the of director BlackRock, a and ident t S.Kapito ton A ward , W’79 - appreciate theeducationI got atthe Wharton School. do I by, go years the As did. you glad I’m but archives, fair. “I was quite surprised you could find my name in the ca- slow charming, af- whole the about self-effacing humorously was dence, his with age, of years 89 Roberts, marvel initself.” a Center, Therapy Proton Roberts the founded recently and System, Health Pennsylvania of University the ing includ nonprofits, of boards multiple on serves Roberts Internet customers, generating $32 billion in annual sales. high-speed million 11.5 and customers TV cable million 28 saw.Today,serves else Comcast nobody that tunities oppor seize to understanding Wharton-honed his used he acumen, business unsurpassed With communication. Roberts brought power, speed, variety and choice to mass Amy Guttman touched on the highlights of his life: “Ralph the courseoftheircareers. over society and business on impact sustained and tive posi- tremendous a had have who alumni Wharton to ed Wharton Joseph present- is award AwardLifetime This Achievement. for the received Roberts attendees, from the Roberts, J. Ralph Comcast. Toof ovation chairman standing of and a founder life the of depth and breadth the articulate, alone, let grasp, to impossible almost is It Hon’05 A Joseph Whar community.” business global a in leadership mitment to foster responsible com- our reaffirm really to bestow is tonight other each upon can all award we best that the think I people and ourselves. So, our business, our manage to us enable will that els mod- leadership the impact will and firms, our of the culture shape will that values the learn we graduates, Wharton “As each other.” help to economy.have Weworld really the of future the on and leadership on more business, on pieces out learning public put to … here alumni the of rest the and you YorkTimes Deans, professors andalumnishouldwriteuppiecesinthe externally. more up speak to Wharton need we because you, on cold-call to going I’m Robertson, “Dean chievement —RalphJ.Rober . I want to challenge to want I Journal. WallStreet and www ton A .whartonn y ward foLifetime .com ts, W’41, New - - A wa r d s 2 0 0 9 5 ❘❙❚ , WG’01 , .com positive and encouraging.” That sense of excitement and possibility was evident at ev- staff staff and alumni “are very ery table of the awards dinner. Wharton today — that students, that — today Wharton Truly, Truly, as our club president said calls from 1941 still rings true of al y .whartonn when he began the evening, “When you “When evening, the began he when It’s interesting that It’s the trait Roberts re- t www rs with Steering Committee membe spend time with bright, talented, accomplished he capi cademy t is A Chattopadhyay W’97, Udayan , t he s possible. people in this community, amazing things happen.” people in this community, years ago. She taught me the two most important words, “Yes, dear.” Roberts expressed being proud of his son, who is CEO and of who Comcast today, worked his way up from pole , “Brian climber. W’81 is the perfect prod- gave only not They education. School Wharton the of uct him creative ideas; he’s they gave him discipline. Today, team management a building and objectives, his targeting hard, a He’s him. love all they and none, to second is that you.” Thank son. my he’s and creative; he’s worker; hard t t repreneurial aslow t This o be t ed annual annual even t achievemen o make en hose who provide t t expec wards dinner forwards business founders and A r) Amy Guttman (cente ania President v York | Spring 2010 | York Club of New Wharton J WG’87, Regina W’73, Kenneth Beck, ass, thur B ued: rds 2009 Contin wa A Regarding his thoughts on Wharton: one “I of the think things that was mentioned tonight was It integrity. stood our company in very good stead. And Wharton where we can look is for integ- a we where place a is This rity. place can find support for all of our families, our businesses our lives. And and I think this should people to give we speech little the in be about the school.” have did he that confessed Roberts level, personal the On a lifetime achievement: “I married my wife Suzanne, 67 Regarding Regarding the growth of his cable empire, he explained, “We weren’t so brilliant! When I down saw the street people after our running trucks shouting, We business. great ‘Come a was this to knew I my well, … next!’ house it.” at away banged and worked that something found just I think it helped me with the entrepreneurial aspects. They aspects. entrepreneurial the with me helped it think I encouraging.” were very Ar University of Pennsyl C l u b A c t i v i t i e s Wharton Alumni Business Plan Competition 2.0 Who else is on your team? What have been your key s a budding entrepreneur, challenges? isn’t it tough enough to Mark Chou, WG’09, a recent get funds in the door, ship alumni working at Blackstone Group, Not as many as we expected! There productsA out the door, maintain your has been vital in establishing our are the typical startup glitches. The daily chores and bring your toddlers Facebook page and Web presence. We integration with the club’s website to violin lessons next door? So why are also working closely with Jack was a challenge at first, but as a team, subject yourself to the effort and Huang, MSE’03, who is our “glue we made it work. anxiety of competing against other guy.” Jack has been really terrific really, really smart Wharton alumni helping us iron out any integration What’s new in the second in the second annual Wharton Alumni issues between the Wharton Alumni year of the competition? Business Plan Competition? Business Plan Competition website and the Wharton Club of New York • We expanded the competition The chairs of the b-plan competition, website. The competition is housed to welcome alumni from other Kofi Kankam and Jay Bakhru, both in the club’s Business Development clubs. WG’04 Cohort C, evince the good- Division, led by Bob Boyd, WG’06, • We have a much more visible humored confidence to answer that Founder and President of Boston web presence. question. Kofi has already set up a Street Advisors. Bob has been • We built on last year’s cell phone services company in India involved in 25 start-ups and serves on relationship with WEP. and an educational software firm. the National Advisory Council of the • More companies have applied. He now assists candidates to enter U.S. Small Business Administration. • The event has more varied the business schools of their choice judges. through his new company (www. Are you working in admitadvantage.com). Jay, after a concert with the Can you describe some of stint at Citibank, set up a user-friendly Wharton School? the contenders? service to help medical professionals learn exactly the Spanish they need Emily Gohn Cieri, Managing Dir- The contenders are quite a varied (www.languagetailor.com). Now, ector, and Clare Leinweber and Megan bunch. We have a wide range of that’s Wharton global confidence! Mitchell, Senior Associate Directors, industries represented including of the Wharton Entrepreneurial mobile, retail, online ticketing, So, what are the benefits Programs (WEP), have been terrific software productivity, beverages and to competitors? in helping us to solicit business plans online dating. This list represents a and market the competition to other smattering of what we have received • Early-stage companies get clubs on the East Coast! Working – the diversity of creativity within to showcase themselves to with WEP gives us a lot of hope that business is a hallmark of Wharton venture capitalists, successful this will only grow every year. and this contest is certainly adhering entrepreneurs and established to that notion. ❘❙❚ angel investors. This must be a huge • Competitors receive feedback undertaking. Why did on their plans’ concept, financial your team take it on? jay bakhru and kofi kankam model, business model, market place, management team, etc. We wanted to make a contribution • Non-winners get meaningful to the school, meet other key people feedback and specific advice on in the entrepreneurial space, as what their companies need to do well as investors, and just get more to ultimately receive funding. immersed in that community. These people are fun to be around and share lots of creative ideas!

Wharton Club of New York | Spring 2010 6 www.whartonny.com C l u b A c t i v i t i e s Take the Call Forum ind opportunities offered by your fellow Wharton “Take the Call” Forum Highlight 3 Alumni. Help an alumnus find answers; Get ideas I’m trying to reach James Ross and/or Alan Feldstein at and useful information. Use the “Take the Call” Fo- the Human Rights Watch. If anyone knows either person, Frum- you never know what you will find there. I would very much appreciate hearing from you. If you can “take this call” or if you know someone who can, go By the way, your message can be promoted to the 18,000 to http://www.whartonny.com/forum.html alumni in the NY Metro area. Just post it on the “Take The Call Forum” our message board for Wharton Alumni “Take the Call” Forum Highlight 4 to reach the Wharton Alumni Community directly... See I’m a 2006 Wharton graduate who now works at a private below for highlights. equity media company and attends Columbia Journal- ism School. I am looking to get more freelance business “Take the Call” Forum Highlight 1 writing experience. Established boutique FOF firm with ties to a prominent If you can “take this call” or if you know someone who American family office and a premier HF group and are can, go to http://www.whartonny.com/forum.html looking to hire a due diligence analyst with 1-3 years experience. If you can “take this call” or if you know “Take the Call” Forum Highlight 5 someone who can, go to http://www.whartonny.com/fo- Boutique investment banking firm seeks financial com- rum.html munications consultant to assist in preparing market- ing materials for private equity funds, corporate equity “Take the Call” Forum Highlight 2 placements, hedge funds, and other investment offerings. Anyone with a connection to either Ken Gosnell or Stan- Looking for an experienced consultant who can work on ley Fleishman, and willing to provide an intro? a project basis. If you can “take this call” or if you know If you can “take this call” or if you know someone who someone who can, go to http://www.whartonny.com/fo- can, go to http://www.whartonny.com/forum.html rum.html ❘❙❚

WCNY has a New Office

ivilization begins with within easy reach of the adept Ms. Shaw. Stephanie is a order, grows with liberty and great support to both club volunteers and alumni. dies with chaos. TheC biographer of civilization, Will You’ll see her at almost all club events, doing all she can Durant, who wrote his 11 weighty to make it easy and pleasant and worthwhile for you to be tomes over four decades, no doubt there. “Now, the club will have just one address for all came to that conclusion after finally correspondence,” Stephanie attests. “All the club records

Stephanie Shaw relocating his typewriters, notes, re- can be kept in one place. Questions can be more easily search and library from his home, answered, and work more effectively done.” Will Durant into a decent organized office. would approve.

Stephanie Shaw, Manager for the Wharton Club of New It’s a sensible setup — a 10 x 10 suite on the 10th floor, York since 2005, concurs. She recently oversaw the trans- with a time-shared conference room available for official fer and consolidation of all things WCNY to the club’s club matters. It should be noted that there are no comfy new Midtown offices at 1560 Broadway! We won’t delve old world couches, no bar and no gym. That would be the into where such records, important papers and computers Penn Club on 30 West 44th Street. ❘❙❚ were kept before. We will celebrate that they are now all

Wharton Quartely | Spring 2010 | whartonny.com 7 A l u m n i S p o t l i g h t Thanks for Making the call

ou often hear about ‘taking the to answer a few questions. Ycall’. Rabbi Dr. Eric Lankin, W’78, made the call! He founded the Why did you start the WNP- Wharton Non-Profit and Social Im- SIA? pact Affinity Group (WNP-SIA), a unique organization within the Whar- In 2007, I posted a message on the ton Club of New York (WCNY). The “Take the Call” bulletin board (on the group brings together Wharton alumni WCNY website) because I felt existen- currently working in the non-profit tially alone, in that I didn’t know any arena in order to network, increase alumni who worked in a non-profit. their business knowledge, be informed Since graduation, I’ve only worked in about community needs, and actively the non-profit sector, and the skills I support one another’s business and learned at Wharton were salient to my personal career goals. work. Rabbi Eric Lankin, W’78 Membership is free of charge and open I was thrilled to receive a strong re- to Wharton alumni who are profes- sponse. Wharton’s tradition is busi- What is an ideal sionals in non-profit organizations, ness, but today, the school includes a intersection of Wharton volunteer board members of a non- solid social impact group. The non- with the non-profit profit organization, and profession- profit sector is significant in Ameri- community? als of a for-profit company address- can society, so why shouldn’t we be ing areas of social impact. WNP-SIA involved in that sector? Most impor- That’s a complicated question, because members represent a broad swath of tantly, Wharton can make non-profits the Wharton experience has to do service, religious, educational and cul- more effective and their work more with commerce. The non-profit world tural institutions; foundations; mem- significant. doesn’t always work on that model. bership associations; Members who But Wharton can offer the non-profit Can you describe some of world so much, improving the skill the events held to date and sets for volunteers and professionals The WCNY and Wharton your members? and helping them be more effective in community thanks Rabbi what they do. Lankin for being curious In one program, members would pres- and intrepid enough to ent case studies from their work to ask In Managing the Non- make something out of advice from others, including those Profit Organization, Peter an unmet need, and wishes working at the Guggenheim Museum, Drucker stated: “The ‘non- him every success in his Carnegie Hall and other key institu- profit’ institution neither valuable work! tions. We’ve also invited speakers supplies goods or services who are doing interesting things such or controls. Its ‘product’ as Emily Tabin, (W’78), who formed is a changed human being.” are employed in for-profit companies a jazz group in Westchester County, Can you comment? are working in areas such as microfi- and John Bernstein, (C’82, WG’87), nance, healthcare and housing for the president of the Leon Levy Founda- This is a very insightful comment. poor. Visit the WNP-SIA page on the tion, which supports diverse themes Those working in education do want to club’s website for information on how such as studies of the ancient world transform their students. Those work- to join. and other important projects in New ing to help the poor want to change York. Of course, there was a good their situation and their future. But Rabbi Lankin is passing on the leader- amount of networking going on, and this kind of transformation is hard ship torch so he can focus on his new friendships made. Events are limited to measure. Quality of life is hard to critical role and concomitant travel to WNP-SIA members. Check out the measure. So one has to work hard to schedule as the Chief of Institutional Events Page of the club website for up- demonstrate with metrics the positive Advancement and Education of the coming meetings! changes occurring. Jewish National Fund. He took time Continued on Page 21

8 Wharton Club of New York | Spring 2010 | www.whartonny.com

T o o l s Using Social Media to Sell

t says something about the ing salespeople to more effectively always obvious how to use it to actu- diverse interests of Wharton connect to customers. Following is ally sell something. Let’s assume that alumni, that the Chairman and our interview with Nigel. you’ve figured out your “ideal- cli Ipast President of the Wharton Club ent” profile and hence a target list of of New York, is not an attorney, in- What’s different about companies. And let’s assume you’ve vestment banker or consultant, but a sales today? built up a reasonable number of con- fluent and attentive teacher. It says nections on LinkedIn while you’ve something about the practical na- Sales is about people. In the end, it’s been using it (if not, check out a book ture of Wharton alumni, that what people who buy things. The larger like I’m on LinkedIn, Now What???). he teaches is sales. Nigel Edelshain, the item, and the amount of money WG’93, wasn’t always a teacher, or a involved, the more trust we need be- Let’s briefly walk through one way salesman. His Wharton MBA nudged fore we buy. Trust is based on rela- you can use LinkedIn to sell. Type him out of engineering solutions into tionships. If there’s one single factor in the name of Target Company A selling them. that determines whether you will get into the main search box in LinkedIn in to meet a prospect, it’s relation- (keep the search pull-down menu set Throughout the late 1990s, big-ticket ship. In “old school selling,” sales- on its default of “People”). LinkedIn technology sales were strong. De- people used to spend time developing will then list the names of people in spite success, Nigel perceived that he relationships with buyers at dinners, your target company, how many “de- and other salespeople had a growing lunches and on the golf course to de- grees of separation” they are away and fundamental problem. What was velop that relationship. But buyers from you, and which of your direct implicit in all the best sales trainings are simply under too much pressure (first degree) contacts connects you and practices of the day was that the to deliver results, to spend much time to that company’s staff. salesperson was standing in front of with any one salesperson. Let’s say that LinkedIn shows that I the client, chatting away, product in But there is hope. There are new ways know a “Person 1” in the target com- hand, inside the door. Salespeople’s to build more relationships and far pany through someone I know in real dilemma was that, more often than faster than you could before. These life, called “Person 2.” Great! Now, I they liked, they were outside the new ways are about using social can ask Person 2 for an introduction door, looking in. networks to start relationships with to Person 1. I can ask for this intro- people in your target market — of- duction either within the LinkedIn The advent of the Internet was a huge ten without even leaving your office. system or outside of LinkedIn using milestone, changing everything, for You can build initial relationships good old-fashioned e-mail — or even the worse. Before the Internet, a through the Web, but you need to get the downright archaic telephone. salesperson had an excuse for get- offline at some point and make these ting into the buyer’s office in order to relationships “real.” We humans still LinkedIn is working as a networking bestow “product updates.” Nigel ex- need voice and in-person interactions tool for me here. It is telling me who plains, “Today, buyers can find what- to build more than surface-level rela- the people I know in turn know. It’s ever detailed information they need tionships — not much has changed the equivalent of my meeting with all early in the buying process simply about that so far. my connections and asking them to by typing into Google and pulling up bring their rolodexes to the meeting. dozens of white papers or webinars.” Can you give an example One other feature of LinkedIn that’s of how to use a social pretty interesting is that people tend Fast forward to 2006. After much media tool? to put more personal information on thinking and writing, Nigel coined their LinkedIn profile than they do on the (now popular) term “Sales 2.0,” One popular social network for a corporate website. So, looking at created his company Sales 2.0 LLC salespeople is LinkedIn. Everybody someone’s LinkedIn profile will usu- (www.sales2.com), and began teach- knows about this website, but it’s not ally show the schools someone has

10 Wharton Club of New York | Spring 2010 | www.whartonny.com attended; his or her interests (scuba Are some social media senior executives of those compa- diver, sky diver, etc.); and the groups better than others for nies. So that’s a good start. These are he or she belongs to in LinkedIn. different industries? great tools to build a foundation for your prospecting efforts. But there For Wharton alumni The platform you use needs to match are now Sales 2.0-type tools for get- who don’t currently your goal, and match the people ting even more information on your use LinkedIn, Facebook you need to sell to, connect to and prospects. and Twitter, how can learn from. Facebook may be great they overcome the for selling Rubbermaid’s consumer Jigsaw, NetProspex and Spoke are intimidation of using products, because it has 400 mil- built on social communities of sales- these new tools? lion users, compared to LinkedIn’s people. In these systems, it is sales- 20 million users, but LinkedIn is the people who are members of each Personally, I like to dabble when try- king for selling high-ticket business- community who put contacts into the ing something new. Others like to to-business products and services. database for other salespeople to use. read books. If you need to get train- In my prospecting efforts, I find Jig- ing, get training! Whichever way, What kind of customers saw and NetProspex extremely you do need to make the effort to use your service? useful for finding middle manag- keep up, in order to be valued in your ers in large companies who are not workforce. We work with technology companies, typically listed in Hoover’s or Dun & financial services companies, media Bradstreet. Often, you are invited to companies and a range of business- connect, even by people to-business services companies. The Another interesting tool is ZoomIn- you don’t actually know. typical goal is to get sales numbers fo. This tool takes an approach dif- Should you be selective? on plan (big surprise!). Our “secret ferent from Jigsaw, NetProspex and sauce” is that we have found ways to Spoke. Rather than a community of Having lots of links is not in itself get salespeople in the buyer’s door- salespeople putting in contact data a great strategy, because the person way more often than traditional sales to share with one another, ZoomInfo who you don’t know, doesn’t neces- methods do. Getting in front of the gathers data using “Web spiders” sarily trust you. If, however, some- right buyer is the No. 1 bottleneck that look at billions of Web pages one invites you to link with him, and for many companies and causes their and suck down executives’ bios and he fits the profile that you want, then sales pipelines to crater. The revenue company data into one consolidated ask to have a quick phone call to get problem starts right at the beginning database. acquainted. If he refuses, you can re- of their sales pipelines, as they are move him. not meeting enough of the right buy- What are the essentials ers to ever hit their sales goal. to getting your own If you were to write a LinkedIn page up to snuff? book, what would the Can you talk about some title be? other user-friendly and We all get it that a good corporate effective tools? home page is important, but the game I did. It’s an e-book, accessible on has changed now. As I said earlier, my website, called Don’t Cold Call. There are both well-established tools you are a brand now. Even inside a Social Call™. and there are newer “Sales 2.0” tools corporation, you are selling yourself, that help you build prospect lists. advancing your career, getting your Are there any websites that Whichever tools you use, you are budget approved. So, your LinkedIn you visit on a daily basis? going to have to first figure out your page has become your personal Web ideal client profile (the type of com- home page. When people Google HubSpot, Twitter. Twitter is used a pany and the type of people within you, there’s a very high probability lot by marketing people — so it’s that company). that your LinkedIn page will come good for getting information. Most of up near the top. If they click on that my peers use it — a kind of “coope- Some of the well-established tools page, what will they see? Who will tition” — and it’s a great source of that help you build prospect lists in- they think you are? Is that who you articles — like an instant library. clude Hoover’s, Dun & Bradstreet, want them to think you are? You are OneSource and SalesGenie. On these your search results now. Make sure Like inbound research? databases, you can download lists of your Google results and the pages your target companies, some basic that come up when you click on them Exactly! demographic data on them and the are what you want. ❘❙❚

Wharton Club of New York | Spring 2010 | www.whartonny.com 11 e n e r g y Wharton Alumni Electrify the Northeast

ou know that Wharton alumni wind) or very low cost (wood chip biomass), stride up Wall Street, but did you there is an enormous amount of capital tied BioGRAPHY: know they also light up the smart up in both the production and delivery sys- grid?Y The four key executives interviewed tems for renewables. Since you can rarely James B. Robb, (WG’88) is here work smart to create, distribute, store move the fuel, you have to move the power, Senior Vice President of and finance the energy that keeps the East and if it’s a large transmission line connect- Enterprise and Planning for the Northeast Utilities Coast running. ed to a wind farm that generates power only (NU) system, the largest 30% of the time, the cost of transmission electric and gas utility What do you do? can be three times higher than it is for a con- system in New England. ventional resource. So, the real economic I lead all of our strategic planning and busi- benefit of renewable power is not its cost After graduating from ness development efforts. I am responsible level (even with subsidies, solar and wind Wharton with a concen- for helping NU think through the changes are more expensive than relatively clean tration in marketing, occurring in the industry, especially in natural gas), but rather, its cost stability. Robb joined McKinsey & terms of clean technology and energy inde- Company, serving clients pendence, which are forcing us to rethink Peak demand requirements also drive up the in the energy and natu- how we generate and consume electric cost of power. Customers pay for the dis- ral resource sectors for power. tribution company’s capacity to deliver on 14 years. He was elected peak; since currently we can’t store power a partner of the firm in How has the Wharton cost-effectively, we must deliver exactly 1994 and led the energy experience helped you? on demand. Compounding this issue, peak and resources practice in western North America. In load has grown faster than the average load 2002 he joined the lead- I graduated in 1988 with a natural curios- — home electronics, big-screen TVs and ership team of Reliant ity about business and economic systems. I other power-consuming gadgets get used Energy as SVP where he ran did not set out to work in the energy indus- during the day, and that has driven rates the company’s successful try, but was drawn into that at McKinsey. up. Why? Because utility companies need competitive retail energy Wharton helped me to redefine who I was to invest to meet the peak, but the invested business. Today he is back and how I saw myself in the world. Beyond capital is only used for a few hours per day. doing what he loves best. the technical, accounting and marketing skills I gained, Wharton was a confidence What are other ways of Robb has served on the builder. dealing with peak demand? board of directors of the Woodland Park Zoo What is driving this trend ‘Real-time pricing’ would allow utilities to in Seattle, served on the toward renewable energy? price electricity higher during peak use and San Francisco Bay Area lower for off-peak usage, instead of being Economic Forum, and The trend is set primarily by mandates es- monitored monthly. This will incentivize was VP of Marketing for the Houston Symphony. tablished on the federal and state level and, customers to monitor their usage and bet- Recently, he was asked to secondarily, by substantial consumer-driv- ter anticipate their energy costs and man- join the board of the Wad- en demand for lowering the environmental age budgets more effectively. Also, in the sworth Atheneum Museum impact. The rapid increase in fossil fuel future, batteries and plug-in vehicles will of Art. costs during the past decade, the rising con- store power in the off-peak period to be cern over climate change, and our energy used during peak times. Robb lives in Farmington, security interests all feed this trend. Connecticut, with his What is the smart grid? wife, Janice, and three Are customer’s rates a driver children, as well as two of renewable energy? Utility assets last a long time, and to be fair, dogs, two rats and a rab- we are currently using electric distribution bit. Yes. However, not everyone realizes the to- technology largely conceived in the 1960s tal cost impact of renewable energy. While and 1970s. In the meantime, technology in many cases, the fuel is free (sunlight and Continued on Page 22 12 Wharton Club of New York | Spring 2010 | www.whartonny.com e n e r g y The Breakthrough Strategy

decade could pass, and you industry, such as union negotiation and BioGRAPHY: would still recall Kevin Walker’s resource-based best practices, so one needs inescapable iron handshake, and his the higher perspective to be able to leverage Kevin Walker, WG’02, is innateA ability to put you at ease. Graduat- what you’ve learned on the job. Chief Operating Officer ing from West Point and Wharton, he could of Iberdrola USA (www. have challenged and succeeded in any in- What book has impacted you iberdrola.es.) dustry he chose. He chose energy. recently?

Kevin’s prior company What do you do? I work as a change agent in my current was American Electric job, which has been a typical role for me. Power in Ohio where his roles included President, I’m responsible for safe, reliable and effi- I try to speed th things up, from molasses COO, SVP and CIO. Before cient gas and electric operations delivered to syrup[laughing]. So I need a framework joining AEP in 2004, Kevin to nearly 3 million customers throughout and process to drive change. Robert H. held a variety of leader- Iberdrola USA’s territory in Maine, Mas- Shaffer’s Breakthrough Strategy has helped ship positions at ConEdi- sachusetts, Connecticut, New Hampshire, me to lead change. son in New York. As Vice Rhode Island and New York. It involves pulling folks together from dif- President of maintenance ferent departments. You ask them, “If you and construction, he was What is Iberdrola? could change three things, what would you instrumental in directing do?” Vet them, and find out which ones rise the recovery of energy It’s the third largest energy company in the to the top and are commonly important. It’s service following the col- world, with corporate headquarters in Ma- a one- or two-day activity to discover what lapse of the World Trade Center on Sept. 11, 2001, drid. Iberdrola is also the largest provider of the solutions are. We facilitate the imple- and he was ConEdison’s wind energy worldwide. mentation of those solutions. It’s the verita- primary interface with ble opposite of red tape. I’ve been a student the New York City mayor’s What are the economics of of this process for a long time. It’s not only office during the adminis- renewable energy? interesting, but practical. The breakthrough tration of former Mayor strategy itself is short-term, about 90 days, Rudy Giuliani. Even with the offsets and subsidies, renew- and is results-driven. Rather than approach able sources of energy are more expen- a problem by vertical silos, we work on it Before coming to Whar- sive. Their installations, transmission lines horizontally. ton, Kevin graduated and intermittency drive up the total cost If you started your career over again, post- from West Point in 1985 of ownership in the short run. That being graduation, what would you do differently? and served in support of said, the total cost of ownership for wind I wish I learned Spanish [joking]. Seriously, Operation Desert Storm in energy is much lower than for solar. Costs I wish I’d slowed down a bit. Iraq. Kevin is on the board for renewables will come down, and there of advisors for Com- will, at some point, be economies of scale. What has been a challenging prehensive Development, lesson in business? Inc., a nonprofit orga- The economy is not driving renewables; nization that supports it’s more of a political and moral push. The mentoring and develop- mandates force you to figure out how to best Self-discipline. I got to an inflection point ment programs for the implement it. And technology is improving. in my career where I realized I was not in Manhattan Comprehensive a place I wanted to be, and yet, stayed two Night & Day High School. How has the Wharton years longer. I continued to earn bonuses for In March 2009, Kevin was experience helped you? high performance, but realized this wasn’t awarded the Robert S. where I wanted to stay. What I learned was Crane, Jr. Young Philan- Wharton gave me a better understanding that, if the job is not really killing you, it thropist Award by United of microeconomics and macroeconomics. doesn’t make sense to jump out and do Way of Central Ohio. In My favorite class was negotiations, which nothing. We think we don’t need to put up 2005, Kevin was recognized by Black Enterprise Maga- I use every day. It gives you confidence with it, but we can. I disciplined myself to zine as one of corporate to work in the top tiers of corporate lead- not react emotionally, but to patiently think America’s top 75 black busi- ership. There are many challenges in our Continued on Page 22 ness leaders. Wharton Club of New York | Spring 2010 | www.whartonny.com 13 e n e r g y Success Will Find You

oyal (Roy) Daniel, has a knack for storing energy generated off-peak; (imag- making others feel intelligent and ine a big balloon being inflated) then during BioGRAPHY: understood. Perhaps it comes from peak hours, the stored air is extracted and raisingR four boys. Or perhaps it comes from preheated which amplifies its power three- Roy Daniel, WAM’05, is the working globally to develop, construct and fold through air expanders. This preheating Chief Operating Officer of operate energy projects and power plants. can exploit inefficient combustion turbines Energy Storage and Power (ES&P) www.energystorag- Today, as founder and Chief Operating Of- in old power plants, which throw off heat. eandpower.com, a joint ficer of Energy Storage and Power (ES&P), The byproduct of CAES is cold air, which venture between Public he’s focusing his personal skills, business may be used by merchant users such as data Service Enterprise Group acumen and education to make the energy centers. (PSEG) and the inventor industry more intelligent and productive. of an advanced electric Is the energy sector an exciting storage technology. Pre- How did you come to start field for Wharton graduates viously Daniel led busi- ES&P? to enter? ness development for PSEG Global and later oversaw I was working with PSEG in M&A busi- Yes! The electric energy sector is a very operations of generat- ness development. My job was to find the challenging one and is in an unprecedent- ing plants in both the U.S. and Asia Pacific. He held next big thing, something that could move ed transformation mode. The technology numerous executive and the needle of a Fortune 200 company. We to manage load and the development of board positions at energy believed renewables were the dynamic the smart grid will dwarf the Internet, and companies in Hong Kong part of the industry, but soon recognized some believe the Internet will ultimately be and Thailand, built 3 that wind and solar were already crowded. a subset of the smart grid information and electric generating plants I searched for something that was almost control environment. in California during commercialized, that could grow and that their 2001 energy crisis, we could lead in. I found an inventor who How does public policy and held management had patented and worked with compressed affect your industry’s positions in generation air energy storage (CAES) since 1985, with transformation? outage management for studies supporting his work, but still, it was Boston Edison. considered an unconventional technology. Renewable portfolio standards and energy PSEG’s decision to partner with the inven- credits introduced in about 30 states enlarge Besides attending tor was impressive because utilities don’t the market for renewable-energy projects. Wharton, Roy holds a B.S. normally invest in new technology. The U.S. Department of Energy, through the degree in Nuclear and M.S. degree in Industrial Smart Grid Investment Grant Program in What do you do? Engineering from 2009, made $3.4 billion available in match- North Carolina State ing grants for modernizing the electric grid. University, and a Juris I am responsible for the day-to-day opera- As part of the program, ES&P’s CAES was Doctorate from Suffolk tions of ES&P, which includes the concep- recognized as a project funding category. University. Roy is an active tual engineering, marketing and delivery of Only two utility-scaled CAES projects re- speaker at renewable- the 3 MW to 430 MW proprietary advanced ceived funding, and both are ES&P clients: energy national and second-generation CAES units. New York State Electric & Gas’s 180 MW international industry CAES unit and Pacific Gas & Electric’s 300 conferences. He lives with What are the benefits of MW CAES unit. his wife, Holly, and their compressed air energy storage? family, in Mountain Lakes, What are your firm’s New Jersey. Our second-generation CAES optimizes challenges? the huge capital investments in intermit- tent energy resources like wind and solar. The initial challenge was to build the supply Instead of importing fossil fuels to meet chain for delivery and to find parties inter- peak demand, we can utilize domestically ested to invest in CAES units, ranging from available resources. CAES does this by Continued on Page 17 14 Wharton Club of New York | Spring 2010 | www.whartonny.com e n e r g y Energizing Wharton Alumni

hen Tim Howell, WG’88, re- Is your renewable energy BioGRAPHY: turned to speak at the Wharton portfolio only invested in Technology Conference last large projects? Tim Howell, WG’88, is the Wmonth, he met many students who were ac- Managing Director and tively engaged in the energy industry. The Recently, we merged our renewable and fos- Commercial Leader of topic was venture investing in the energy sil fuel power businesses, so today, my team the Power and Renewable Energy business for GE technology industry, a subject in which Tim of 10 originators throughout the U.S. and Energy Financial Services. is a walking smart grid. Tim is the Manag- Canada leads our investment efforts for both Howell began his career ing Director and Commercial Leader of the debt and equity in renewable energy, fossil- with undergraduate Power and Renewable Energy business for fueled power and electrical transmission degrees in industrial eco- GE Energy Financial Services which al- projects. Most of this is project financing. nomics and mechanical lows him to leverage his experience at GE engineering from Union over the past 26 years. GE Energy Financial In addition to the project financing side, we College in Schenectady, Services invests globally with a $23 billion also invest about $50 million annually on NY, after which he worked investment portfolio and a long-term view, the technology side, typically in $1 to $5 at GE as a sales engi- across the capital spectrum of all all the en- million venture capital equity investments. neer. During his work ergy industries, to help its customers and Over the last few years we have invested he graduated from GE Energy’s Technical Market- GE grow. in 21 technology companies through 34 ing Program and there- rounds; in areas like batteries for electric after entered Wharton. “In project finance, you create a company in vehicles, energy efficiency and smart grid, After receiving his MBA he every deal,” Howell explained to students, wind and wave power returned to GE Energy to professors and industry participants at the take on sales and market- conference, explaining how his company How has Wharton influenced ing roles until 1994, work- approaches financing a project. “Let’s say your career? ing in Indonesia, Thailand it’s a wind turbine project [GE has equity and Hong Kong before investments in 47 wind farms for a total ca- At Wharton my concentration was mar- their changeover. When pacity of 6 gigawatts!]. The first step is site keting and finance. Today, my world is a he moved to GE Capital in selection, including wind verification, prox- composite of marketing, product manage- 1994, he led cross func- tional teams in the energy imity to power demand, electrical transmis- ment, operations, technology and financ- sector, holding positions sion studies and environmental permitting. ing, through investing in and owning power in Project Development, You then need to select the wind turbine plants. Of course, Wharton as a name has Product Development, technology itself to project energy produc- great marquee value, for anyone’s career. and Origination, both in tion and long-term operating costs. The And then there are the relationships made. the U.S. and in six Latin next and most challenging step in today’s American countries. In market environment is to win an economic What are the major challenges 2000, Howell was made a power purchase agreement that will be the in your business? Managing Director. In source of revenue for the life of the project. 2005, Howell became the Finally, you need to negotiate a construc- Knowing how to take advantage of all the Commercial Leader of a tion contract, an operation and maintenance resources and domain expertise available new renewable energy initiative. Since 2006, their contract, and an asset management agree- at GE, to embrace change and continually renewable investments ment to run the business. On the capital innovate, to see around corners, to satisfy have grown from a base side, projects are typically financed with customer needs and drive their success. of $500 million in 2006 to a combination of equity and debt. Many The needs of the energy industry are con- an expected $6 billion in renewable projects also include tax equity stantly evolving, as is the technology and 2010. investors to enable the project developer to the competitive environment. And, more efficiently utilize the tax-driven incentives recently, government policy to address cli- that the U.S., state and local governments mate change and energy security has led currently use to stimulate the renewable in- to an increasingly dynamic set of business dustry.” challenges and uncertainty. Continued on Page 19 Wharton Club of New York | Spring 2010 | www.whartonny.com 15 A l u m n i S p o t l i g h t A “Personal” Approach to Reducing and Managing Stress

f you enter the word “personal” small projects off their minds, they in the job title box of the Whar- feel freer to think creatively and just Iton alumni directory, how many perform better.” alumni does it return? Digital mo- tors whir through 85,000 alumni, in How did your 148 countries, from Angola, Ant- background at Wharton arctica, Argentina … beyond MDs, help to prepare you for VPs, SVPs, EVPs, COOs, CFOs and this career? Jennifer Gregoriou, W’78 CEOs, to at last return the answer: One. Wharton provided me with the toolkit What are the salient skills to do the marketing plan, analyze the in serving your clients? “Mostly, I listen,” admits Jennifer financial statements, evaluate the risks Gregoriou, W’78 owner of Jen- and measure the ROI, but it’s those in- Listening is primary. People tend to nifer Gregoriou Consulting (www. nate qualities of resilience, integrity, feel better when they articulate their jennifergregoriou.com). “Listening! discretion and empathy that allow me worries and fears to someone. Be- Sounds great,” I say into my clenched to do my work better. ing a positive and proactive person, cell phone, as I watch a BMW try I seek to find solutions and/or oppor- to pull in front of me on the Cross When I am called in to do a project, it tunities for my clients. In some in- Bronx Expressway and think about can involve a sensitive negotiation, an stances, it is very straightforward — offspring getting into college, paying investment portfolio analysis or a con- they need something done, and I can for college, three different negotia- fidential medical history report. It is a do it. In other instances, they may be tions and my taxes! given in my business to maintain com- anxious about tomorrow, next week “Yes,” Jennifer explains. “Business plete discretion and confidentiality. or the distant future. I had one client owners and executives face a lot of who had thought by this time in her stress today.” How did you start this career, she would be set, but with the work? economic downturn, she worries for “Is that so?” I ask, my teeth the future. My response was, “Let’s slightly ungritting, I had been an entrepreneur for many look carefully at your business and conceding to the BMW years as the owner and manager of see where we can do add-ons so you squeezing past me. “Do a restaurant group. To stay at home are better prepared for the future.” you happen to mean with my three daughters, I sold the stress induced from restaurants. With my daughters How are you involved unclear communication, grown, I had to, at some point, re-en- with the Wharton business deals gone awry, ter the work force. I originally started School? regulators and driving?” looking on job boards and sending resumes and received minimal re- I currently chair the Speaker Series “Actually, the stress I help people plies. I applied to Wharton’s Career Committee for the Wharton Club of with is created when they can’t ac- Connect program, but not having New York. Also, I have been active complish what they set out to do,” come from the corporate world and with Penn’s Secondary School Com- Jennifer continues. “It tends to stay not possessing an MBA, I was not mittee for the past six years, which on their minds. It’s more of a ‘if I the candidate they had in mind, so I allows me to interview high school could only get these 10 things done’ had to reinvent myself. seniors seeking admission to Penn kind of stress.” and represent Penn at local college How did you get your fairs. “I help people manage those stacks first customer? of things — to either drop some- What do you like about thing, delegate it correctly, actually My attorney, who knew my charac- your work? do the many small projects that they ter well, told me he had a referral for don’t want to deal with, and figure me: A woman who was overcommit- I place a high priority on the hu- out a plan on how to accomplish their ted, both personally and profession- man side of business. We all have to larger projects. By getting all of the ally, and looking for assistance. work with and through people, so it

16 Wharton Club of New York | Spring 2010 | www.whartonny.com A l u m n i S p o t l i g h t is critical to understand their needs ment or reading over a proposal at Seeking external support can help and fears. I get a lot of satisfaction the eleventh hour, I am available for people bounce back and overcome from knowing I made a difference. If my clients 24/7, with or without pay, setbacks. Given the hard times one I end up getting paid, then it’s a win- and strive to be an agent of positive can find today — joblessness, bank- win situation. On one occasion, I was change. People have emotional road- ruptcies, foreclosures — things often going through a client’s bills because blocks that can paralyze their ability seem out of control. It is important she couldn’t do it. Her cell phone bill to get something done. I can step in to reach out for help when our own was skyrocketing each month, and as an outsider and independent trust- plate is overwhelmingly full. she didn’t know why she was paying ed party and allow them to unleash, so much. She was paying $250 per vent and free their minds. I can then What’s your advice for month in text messaging. I asked her assist them to start to make plans, put alumni who are trying to why she didn’t have a text messaging proposals together, meet their dead- find work? plan. By making some phone calls to lines, and continue with a creative the carrier, with a lot of wait time, and productive life. Wharton has given us all a solid I was able to put her on a $9.99 per foundation to build from. Beyond month texting plan. I also pushed for Do you have a lesson for that, we have to take stock of our a retroactive credit, and she ended up fellow alumni? lives and evaluate what we do every getting a credit for the previous eight day. If you are searching for work or months — about $1,800. I like that People today definitely struggle to questioning the line of work you are scenario — when my work pays for meet all the demands on their time, in, try to reinvent yourself, and either itself. People think that they don’t with not enough hours in the day. Al- create the job you’ve always talked have money for help, but there are though we have learned to be experts about or look for the job that leverag- many situations where a second set at multi-tasking, our lifestyles lead to es your assets. Many capable women of eyes can save you money, catch stress, anxiety, altered moods, poor who possess across-the-board skills the missing money or allow you the outlook and deteriorating health. The in IT, management, HR and market- time to make more money. truth is, people are trying to do it all, ing are ideal candidates for turning but does that result in having it all? their passions into opportunities. I From cataloguing an art collection am always available to offer encour- for insurance purposes to standing I do believe in people’s resilience agement and advice or just a listen- in as a proxy for a divorce settle- and ability to rise to the occasion. ing ear. ❘❙❚

Success Will Find You management skills, while sharing experience and aspira- continued from page 14 tions with others from around the world. The Advanced Management Program challenged me to look at problems $150 million to $500 million each. Utilities are inherently in multiple dimensions and from different perspectives to conservative, as long-term reliability is a paramount driv- craft the best value proposition. er to their decisions. Thus, proving a technology may take decades. Electric storage is recognized as an attractive at- What book has impacted you recently? tribute of the electric grid, but who should own it and how it should be paid for are still open questions. With the 2009 Five Deadly Sins CEOs Make in Sales by Jim Lewis is an Platts Global Energy Award for Sustainable Technology easy read, designed to help one recognize the five com- Innovation of the Year, and growing acceptance, ES&P is mon sales management mistakes that negatively impact expanding its capabilities to increase its market position. financial results. For ES&P’s engineering-based organiza- However, the weak capital markets are delaying large tion, the book was required reading for all professionals infrastructure projects, including CAES. The U.S. needs to sensitize the organization to the fundamentals of a suc- 35,000 MW in the next 10 years to prevent transmission cessful sales process. congestion and another 35,000 MW for load shifting. Yet our two current projects total to only 480 MW. Is there some advice you would give to newly graduating alumni? How did your Wharton experience help you? You have all the basic skills required by Wharton. Be pas- sionate about what you do, and success will find you.❘❙❚ The Advanced Management Program was an excellent mid-career revitalization opportunity, providing a break from the daily goal-driven work tasks to refresh one’s

Wharton Club of New York | Spring 2010 | www.whartonny.com 17 C l u b A c t i v i t i e s

Jack Huang Migrates Mountains! hether you’ve stood fornia, and the Wharton School be- any other Wharton-Penn alumni sites above the Porcupine River gan a project to integrate the alumni that have migrated (Wharton Paris, to observe thousands of networks technologically. The con- Wharton SoCal, etc. — all listed at Wcaribous thrust their way across the cept was we should have one central the bottom of our home page). If you current, or seen 10,000 monarch but- site that connected all alumni and want to visit the Career Path website, terflies alight on a stand of eucalyptus provided benefits that were valuable choose the Job Board option under trees, you can appreciate that migrat- enough to make it in everyone’s in- Job. Want to look up a former class- ing from one environment to another terest to use the site. We also wanted mate? Go to the Useful Links page, is a tumultuous endeavor, requiring to simplify users’ experience and cre- under the About Us tab, then choose power, perseverance and not a little ate the technological foundation and the Wharton Alumni Directory. Basi- instinct. And you would, perhaps, tools on which to expand our already cally, once alumni sign onto our new value a bit more, the labor of love powerful alumni community. WCNY site, they are signed on to the by Jack Huang, MSE’03, to migrate Wharton alumni network across the the website and member database of What are the benefits for globe. the Wharton Club of New York from alumni? its legacy system to join The Whar- What were your challenges ton School’s new, enterprise, alumni Being a WCNY member, you be- in migrating the site? database and website management come a member of one of the most platform. exclusive and powerful networks in Our biggest challenges were data, the world. Our website fundamen- data and data. It was a classic case of Jack, with roots at Goldman Sachs tally changes the way alumni interact the Pareto principle, where we spent and Deutsche Bank, works as senior with one another and with the school. 80% of our efforts cleaning up 20% front office technologist for Aberdeen It is your most powerful tool for busi- of the questionable data. Data veri- Asset Management, by day. By spare- ness, social, career and intellectual fication, data cleansing and data in- moments, he is the club’s Chief Tech- growth. Now, alumni have access to tegration were all essential when we nology Officer, and, thus, creates, re- opportunities and people — access to tried to consolidate information from pairs and daydreams about the club’s business leads, friendships, intellec- two systems, each with over 20,000 website. The migration was a land- tual stimulation, investment capital, records. mark accomplishment for the club in government and career opportuni- 2009, and as a result, we wanted to ties! Our database does not store any stan- ask Jack a few questions about it! dardized member identification num- Can you describe a few bers. So in order to uniquely identify In a few words, what was user-friendly examples of a person between the two systems, the big move? the “one-stop access”? we needed to find some common data. E-mail address is a good one Our WCNY website integrated with Before migration, alumni needed to because it’s unique. However, many the Wharton Global Alumni Network, maintain multiple accounts on mul- people have multiple e-mail address- giving all WCNY members one-stop tiple school and alumni sites. They es. Then, there are a couple of cases access to the school’s 85,000 alumni had to keep track of their different where a married couple, both Whar- around the world. One user name, user names, passwords and user pro- ton alumni, decided to use the same one password, one user profile. files. With one-stop access, now they e-mail address to register. The next only need a single sign-on and user piece of data we used was the first What was the club’s motive profile maintained in the school’s and last names. In one case, we found to migrate? alumni database. Once they click out that John A. Smith is the same the big blue Wharton Alumni but- person as J. Adam Smith. And then Over six years ago, our club, with ton at the WCNY website and sign there are female alumni who married the Wharton Club of Southern Cali- in, they’re set. They can then go to and changed their last names. But

18 Wharton Club of New York | Spring 2010 | www.whartonny.com once we were able to scrub the data paid off. The migration itself was al- What’s your next objective clean and improve the data quality, most a seamless event, with no inter- for the WCNY Web the rest was easy — well, relatively ruption to our operations. And we had community? speaking. only a handful of small issues to fix post-migration, which is remarkable, One of my topmost priorities is the Of course, a large-scale project like considering the scale of the task. Web 2.0 initiative. A Web 2.0 plat- this required a lot of meetings and form will facilitate interactive infor- discussions and coordination ef- What are the coolest, most mation sharing and collaboration. It forts, but fortunately, all the parties functional features of the will allow people to easily make con- involved in this project were very website? nections they would not otherwise professional, and we all worked ef- have been able to make. We don’t ficiently and effectively. One of my favorite places to visit is want our website to be a place where the Take the Call Forum (under the we simply dump information on our This must have been a Forum tab of the www.whartonny. alumni, but a social web where alum- colossal task — did you com home page). There, you can ni can reach out to connect with one have any help? always find business opportunities, another directly. Think about Linke- new ideas and alumni who try to re- dIn, Facebook, Twitter, YouTube, Oh, yes. I’ve had lots of help acquaint with old friends. Flickr, etc. It is about people connect- throughout the process. Kenny Beck ing with other people. and Peter Hildick-Smith have both Are there parallels between been instrumental in every part of the your professional work What advice do you have project. At the school, Kalyan Anu- and your contributions for graduates with an mula (IT director of Wharton Ex- to the WCNY? affinity for technology? ternal Affairs) and Rose Laden (As- sociate Director of Virtual Services For the past 20 years, I have been Technology also plays a vital role at the Wharton School) spent many working in financial firms but always in business. Advances in the field hours working with us and were both in a technology role. I’m always in- of technology from the past two de- great to collaborate with. As usual, terested in exploring and leveraging cades have created a vast number of our club’s manager, Stephanie Shaw, technology to enable more business business opportunities. Be observant, graciously handled most of the foun- opportunities. Similarly, as the Chief and pounce just when the opportunity dation work. Technology Officer of WCNY, I en- comes your way. Accept technology, joy helping the community by seek- use it and gain from it. ❘❙❚ It was truly a great team effort, from ing and providing technology so- planning to execution. All the pre- lutions for the social and business migration work we did upfront really needs of the club.

Energizing Wharton Alumni Financing energy projects will increasingly follow the continued from page 15 project finance model. The energy industry is full of op- portunities for MBA graduates in private equity, proj- Is the energy sector an exciting field for ect development, utilities, manufacturing, construction, Wharton graduates to enter? technology companies, consulting, financial advising, investment banks and commercial banks. There are also At that Wharton Technology Conference, I was impressed opportunities in the government and regulatory agencies by the adeptness and passion of the attendees. Students in setting energy policy. Not only are engineering and fi- in the Wharton Energy Club are actively involved in bio- nance required, but also accounting, statistics, marketing, mass and offshore wind project development and studies. forecasting, operations and all other business skills. For In fact, partially as a result of what I saw at that confer- example, if you want to understand the forward view of ence, I am looking forward to having an ongoing dialogue the value of an energy-producing asset, it is a complex with the students and hope to see many more Wharton system of technical, financial, operational and regulatory alumni in the energy industry, if not in my business, in the assumptions, and interwoven calculations. In a word, yes. near future. ❘❙❚

Wharton Club of New York | Spring 2010 | www.whartonny.com 19 S p e a k e r S e r i e s

Who do I Kornstein’s tips: • Dress: Business dress is a continuum, with business casual at the top end of introduce first, midlevel dressing. For men, always wear a collared shirt (a jacket is optional). Keep accessories at the same level as your clothing. Consider your the client or my boss? industry, corporate culture and activities for the day when deciding on the level of dress. n the evening of January Alan Rackson, W’83, owner of • Introductions: Introduce the more 28, 17 men and women Rackson Technology Solutions, important person first and then the other Ofrom diverse professions found some concepts that he thought person to him or her. The client is more gathered at the offices of Skad- he understood to be less straightfor- important than the boss; the elected official is more important than your den, Arps, Slate, Meagher Flom ward than he realized, based on the friend. LLP, to learn from Sharon Korn- number of questions asked by fellow • Dining: Use silverware from the outside stein, W’80, founder and president alumni and the discussions that en- in; your napkin doesn’t go back on of ImageDesign LLC, (www.im- sued. “It was obvious that Sharon has the table until you’re through eating. agedesignconsulting.com), an image studied business etiquette in detail Glasses are on the right, bread plate on the left. consulting company. Kornstein be- and is a subject matter expert! • Meeting: Eye contact, smile, firm gan the evening asking participants handshake and strong posture are to shake hands with their neighbors While some of her presentation was key. Practice the nonverbal technique and then supply feedback. Luckily, common sense and behaviors I had of mirroring: Get in sync with your we all had good handshakes. Korn- known about, it was nice to hear conversational partner’s nonverbal communication by using the same body stein described the handshake as the them again in a concise presenta- language — drink when the person only appropriate physical contact in tion as a healthy reminder of social takes a sip, cross or uncross your legs, business, which, if properly done, and business do’s and don’ts. I also and lean forward or back when the conveys self-esteem and authority. came home with several new helpful person does. Keep communication The evening touched on the do’s and tips, such as the concept of mirror- open by holding your hands at your don’ts of introducing clients, busi- ing someone’s posturing in situations side, not across your body. ness dress vs. casual dress, and the where you are unfamiliar with cul- Sandra James, W’78, of Deloitte remarked, nonverbal-communication messages tural customs. This was an excellent “The information Sharon shared with that we send. After about 45 min- event, with a great topic, discern- us on etiquette is helpful not only in our utes of discussions on individual ing audience and a knowledgeable business relationships but can be applied situations and scenarios, the eve- speaker, that will propel my social to our interactions outside of work as well. With the many opportunities there are to ning ended with dining etiquette and networking and career forward. network in this day and age, it is always an explanation of the American and Thank you, Wharton Club of New good to know how to approach a group continental styles. York.” ❘❙❚ of people at an event and when not to approach a group. Sharon was able to get Sharon Lowenheim, WG’81, a everyone involved in the discussion, and hearing about lunch etiquette in different professional organizer and owner cultures from other attendees, for me, was of Organizing Goddess (www.orga- very educational. This was a very good nizinggoddess.net), found most use- topic, and Sharon did an excellent job ful the discussion of business dress, presenting the information. Thank you for elegant business casual and business reaching out to Sharon to speak to us.” casual. “Appropriate dress is so dif- Sharon Kornstein’s discussion was ferent from industry to industry. We organized by Jennifer Gregoriou (W’78), as tend to get comfortable with what part of the WCNY Speaker Series. For those we are used to. As a service provider who missed the event, Kornstein can be who works across industries, it’s so reached at: www.imagedesignconsulting. valuable for me to be reminded that I com. need to tailor my outfit to the client’s Contributed by firm.” speaker, Seth Kaplan (left) Jennifer R. Gregoriou, W’78 Nadia Gil (center) Alan Rackson, Chair, WCNY Speaker Series (right) [email protected]

20 Wharton Club of New York | Spring 2010 | www.whartonny.com •

Board of Directors Johannes Albeck, WG`74 Ruth Colp-Haber, WG` 85 Regina Jaslow, W`97 Senior Advisor Partner Director of Member Marketing Prescott Capital Advisors, LLC Wharton Property Advisors The Penn Club of New York

Kenny Beck, WG`87 Nigel Edelshain, WG`93 Allen Levinson, W`77 WG`78 President President Principal Beck Enterprises LLC Sales 2.0 Credit Risk Advisors

Roe Bonelli, WG`99 Bill Haddad, W`89 Dana Michael, W`82 Senior Vice President Partner Senior VP of Risk Management

American International Group DLA Piper US LLP Swiss Re •

P e n n y f o r Y o u r T h o u g h t s

Dear Reader: Please send in your observations on the articles in this newsletter as well as your ideas for stories you would like to see featured. Please send them to [email protected]. Enjoy,

Kent Trabing, WG’01 (Editor) •

Thank You for the Call sponse to the terrible suffering during creative and energetic professionals. continued from page 8 the Depression. Today, people expect We especially need them to create new the government to solve many of our ways of merging Wharton’s skill sets Drucker also said: “Non- social problems. However, the reality with the business of helping others. profits are the American is that non-profit organizations, often What is critically important are the community.” Does that still on their own and sometimes in partner- benchmarks to measure success — it ring true today? ship with the government, can respond isn’t good enough to only want to help to many societal needs. people, but such activities must be Yes, it does. Americans feel some com- measured by rigorous metrics and ac- punction to help, to join in, to give. Es- What would you say to companied by financial transparency. pecially compared to those who live in Wharton alumni who are socialist countries, where they are so seeking to be involved in To whom are you passing used to having all their needs met by the non-profit sector? the torch for the WNP-SIA? the government, Americans like to roll up their sleeves and solve a problem Welcome! This is a difficult environ- Dorothy Leas, (WG’77), a financial themselves. The Franklin Roosevelt ment to work in today, because chari- consultant, and Caroline Strzalka, era changed things a lot. Before that table giving traditionally lags behind (C’00, WG’05), Director of Business period, people took care of their own job growth.. The funding for many Development for Sesame Workshop. parents, the elderly, in general, and non-profits declined 30% to 50% last I have every confidence that they will often the homeless. Roosevelt started year (after hard work, JNF’s giving de- take this group and grow it wonder- many social welfare programs in re- clined only 1%!), so the sector needs fully. ❘❙❚

Wharton Club of New York | Spring 2010 | www.whartonny.com 21 E n e r g y

Wharton Alumni Electrify The and do your best, and to deal with obstacles and put them North East — continued from page 12 behind you? I bought copies for my entire team at McK- insey. You can easily read it on a plane ride. has improved significantly, providing us the opportunity to automate and embed more intelligence in the grid itself, What has been a challenging moment in as well as to using “smart meters” to better link custom- business? ers and loads with the dynamics of the electricity grid. The technology is very exciting, but very new, with a sub- The biggest challenge I face is in firing people. It is hard to stantial amount of effort required to develop standards for make a life-altering decision. The mistake I always made interoperability and reliability. was to delay the decision, hoping that I could rehabilitate them. But, in truth, as soon as you come to the conclu- Is the current economic downturn sion that someone will not work out, you are doing them affecting your industry? and your firm a favor to let them move on graciously. You need to trust your instincts and have the confidence that Profoundly. The energy sector lost three to five years of this is so. growth. Further, we are seeing a substantial increase in our accounts receivables and uncollectables, presumably What advice would you give to newly as a result of declining income and unemployment.. graduating alumni?

Will the smart grid be collaborative or For newly minted alumni, keep your eye on the end game. proprietary? It has to be tough coming out in this economy, but, listen, when you have a pedigree like a Wharton MBA, your life Utility companies tend to be conservative and collabora- is going to be great. It’s a little predetermined. So be pa- tive — to prefer open access. No utility company wants to tient about your success. Looking back on my 23 years, I be stuck with the betamax format. I talk at clean-tech con- wished I’d stopped and smelled the roses. Everything will ferences regarding the smart grid frequently, and many in work out — approach life with that confidence. the clean-tech sector resist this — they obviously prefer proprietary standards and want to become the next Micro- Is this an exciting, challenging field for soft. In fact, the venture [capital] and utility models need Wharton graduates to enter? to be reconciled. Spectacular. Energy security and the environment will be What is the most influential book you at the front and center of public and economic policy for have read? the foreseeable future. ❘❙❚

One favorite book, Golf Is Not a Game of Perfect by Dr. Bob Rotella, is all about the mind of a world-class athlete. You can drop the golf stuff. What does it take to go out

The Breakthrough Strategy What advice would you give to newly continued from page 13 graduating alumni? Flexibility. Let your career be driven by the opportuni- it through. I even turned down executive recruiters offer- ties. Let you be your best, rather than take a programmatic ing better opportunities, because my discipline kept me approach. Regardless of the title, follow what will allow focused. Through this, I came upon an opportunity that you to be motivated and inspired. If you find that this is I’m really happy with. not that motivating anymore, say, because of the business model or the direction of the firm, then think, “Okay, I need to go somewhere else.” That’s what’s drawn me to four different utilities over the years. ❘❙❚

22 Wharton Club of New York | Spring 2010 | www.whartonny.com Join or Renew Your Dues Paying Membership Today! You are automatically a member of the WCNY because you graduated from Wharton and you live in the greater New York area

Becoming a Dues Paying Member brings you these additional club services: • The Business Development Program — Designed to help Wharton alumni grow their business • The Career Development Program — Designed to help Wharton alumni grow their careers • The Personal Development Program — Designed to help Wharton alumni grow intellectually and socially • The Access Program — Designed to keep Wharton alumni informed and connected • The Health Insurance Program

Types of Membership: q Basic Membership q Corporate Membership (up to 10 employees) $95 per year with standard benefits. WCNY Members with companies of up to 10 employees can pay this annual fee (in addition to your own membership fee) for your employees to be eligible for q the Club Group Health Insurance Plan. Note: they will not be eligible for other Basic Membership (2-year) Club benefits. Membership price: $300.00 $170 per two years with standard benefits. q q Corporate Membership (more than 10 employees) Patron WCNY Members with companies of more than 10 employees can pay this annual $250 per year with standard benefits plus 3 free events. fee (in addition to your own membership fee) for your employees to be eligible for the Club Group Health Insurance Plan. Note: they will not be eligible for q Contributing other Club benefits. Membership price: $500.00 $450 per two years with standard benefits plus 6 free events. q Faculty q Supporting Alumnus Administration, Faculty, or Staff of the The Wharton School or of any other $1000.00 per year with standard benefits plus all events are free. Receive invita- school of University of the Pennsylvania. Membership price: $50.00 tions to private events designed around your interests. You will also receive recognition on our web site and in the Club Newsletter.

It’s easy to Enroll Online Go to www.whartonny.com under the Membership Tab

You may also enroll by mail. Just fill out the form below and mail it to the WCNY office address. First Name: ______Last Name: ______Company: ______Billing Address 1: ______Billing Address 2: ______City: ______State: ______Zip: ______Billing Telephone: ______E-mail (optional): ______Card Type: q Visa q MasterCard q Amex Card Number: ______Expiration Date: MONTH______YEAR______Card Code: ______(Visa and MC - last 3 digits on the back. AMEX - 4 digits on the front of the card). Special Instructions: ______

WCNY office address: The Wharton Business School Club of New York 1560 Broadway, Suite# 1011 New York, NY 10036

Wharton Club of New York | Spring 2010 | www.whartonny.com 23 The Wharton Business School Club of New York 1560 Broadway, Suite #1011 New York, NY 10036 • USA

WC N Y—C a l e n da r

April 2010

Tuesday, April 27 The 2nd Annual Wharton Alumni Business Plan Competition Final Round Presentations and Judging

Wednesday, April 28 Wharton Hedge Fund Network: A Variant View on China Mark Hart, CIO of Corriente Advisors, gives his outlook on China

Monday, April 30 Wharton Future of Publishing Conference

Monday, April 30 Leads Luncheon...

May 2010 Tuesday, May 4 Adapting Your Job Search to the New Economic Environment

Wednesday, May 5 A Single Malt Tasting

Thursday, May 13 unleashing Your Inner Entrepreneur

Tuesday, May 18 Wharton Marketing Leaders Forum: Brian Perkins, WG’80, the Head of Global Marketing, Johnson & Johnson

Thursday, May 20 The Art and Science of the Informational Interview -- Interactive Workshop

September 2010 Wednesday, Sep. 29 2010 Joseph Wharton Awards Dinner