A BRYANT UNIVERSITY RESOURCE fOR PROf ESSIONAL SUCCESS S PRING 2009

Entrepreneurship Turn Passion into Action

AACSB REACCREDITATION BULLDOGS DIVISION I SUCCESS PRESIDENT MACHTLEY IN CHINA

290318.P.indd 3 3/2/09 7:44:38 PM sPring 2009, VoluMe 14, nuMBer 1

PuBlisher traFFic Manager Bryant University Office of Karen Duarte 1 20 University Advancement President’s Message sPotlight on: athletics James Damron, Vice President Project coordinators Bulldogs post winning season. for University Advancement Leslie Bucci ’77 Jessica Gallagher PuBlishing director Mary Kay Kammer Elizabeth O’Neil PhotograPhy 22 Managing editor Victoria Arocho sPotlight on: Faculty Stasia Walmsley Peter Goldberg Understanding the economic crisis. Paula Hogan ’00 contriButing editors Stew Milne David Cranshaw Pam Murray 2 Aaron Dalton Patrick O’Connor turning ideas 24 Beth Franken David Silverman sPotlight on: caMPus Robert Moore Hong Yang into Business Tina Senecal ’95 How many types of entrepreneur Historic archway gets Jason Sullivan Produced By are there? It all depends on how complete restoration. Lipman Hearne Chicago/ you define it. class notes Washington Rita Colburn Anna Gesauldi Printed By 28 Donna Harris Meridian Printing sPotlight on: students East Greenwich, R.I. design/Production Class travels to the inauguration. John Christenson send coMMents to Arnold Fishman Bryant Magazine Sandra Kenney Bryant University Box 2 30 1150 Douglas Pike 11 sPotlight on: aluMni through the generations Smithfield, R.I. 02917-1284 Alumni leadership weekend, Four entrepreneurs who got their April 17–18. BryantMagazine@ start at Bryant. bryant.edu 32 class notes

Bryant’s College of Business is accredited by AACSB International — The Association to Advance Collegiate Schools of Business, which recognizes those institutions that meet its rigorous standards of excellence. 36 16 in MeMoriaM teaching Bryant (USPS 462-970) (ISSN 1935-7036) is published entrePreneurshiP four times a year in winter, spring, summer, and fall for the Bryant University community. Publication offices are What is Bryant’s “economic stimulus located in the Office of University Advancement, Bryant program”? Our history of preparing University, 1150 Douglas Pike, Smithfield, R.I. 02917-1284. students to innovate. Periodicals postage paid at Providence, Rhode Island, and additional mailing offices. POSTMASTER: Send address changes to Bryant Magazine, Bryant University, 1150 Douglas Pike, Smithfield, R.I., 02917-1284.

290318.P.indd 3 3/2/09 6:04:59 PM President’s Message

SucceSSful entrepreneurShip takes a special combination of nature and nurture. A solid grounding in business practices and a higher- than-usual ability to manage risk helps entrepreneurs persist through long days, uneven balance sheets, and a tenuous sense of security. All for the payoff of saying: “ i built this. i made this. i made a difference.”

in recent years, the entrepreneurship model has evolved from one in which the founder builds a business and passes it on to the next generation, to a model that focuses on building an enterprise, selling it, then moving on to the next challenge. the former tends to reward sustainable growth, while the latter focuses instead on first-to-market strategies and the need to succeed — or fail — fast. But both demand vision, commitment, energy, and a willingness to endure extremes of uncertainty. At Bryant, we foster these talents in future entrepreneurs. through coursework, co-curricular activities, and engagement with the business community, students learn to assess market needs, develop business plans, and convince investors that a proposed business is viable. As a result, the campus exudes an entrepreneurial spirit. Businesses are launched from the residence halls. new and varied student organizations are created each semester. And student-run events and activities fill Bryant’s nights and weekends. As an institution, Bryant not only nurtures entrepreneurship but also possesses it in our very nature. With our transition to university status, our growing range of academic programs, ongoing development of our technology infrastructure, and the recent move to ncAA Division i — with all of these initiatives and more — Bryant has focused on creative innovation executed through a smart business plan. We’re proud of our ability to keep advancing while retaining the student-centered philosophy that has been a hallmark since our founding. As the alumni interviewed for this issue will tell you, entrepreneurship is not easy. But we’re confident that, armed with a Bryant education, the students who choose to venture down this path will be well-prepared for success.

Sincerely,

ronald K. Machtley president

Bryant Spring 2009 1

290318.P.indd 1 3/6/09 5:37:25 PM Nick Janikies ’57, ’86H opened his first Burger King franchise in 1969. Now his firm, The Jan Companies, owns and operates more than 100 establishments, including Burger King outlets and three country clubs. “It all started with a dream!” he says. Ideasturning Businessinto

Reclusive inventor? Genius tinkering in the garage? Throw out those old stereotypes. There are many ways to be an entrepreneur in the world, and Bryant alumni have been successful at pretty much all of them.

rom the proprietor of the McDowell, spokesperson for the Office of mom-and-pop diner, to the Advocacy at the SBA. serial entrepreneur who loves “Entrepreneurship is the backbone of the rush of creating some- the U.S. economy,” agrees David Beirne ’85, thing new, entrepreneurship who co-founded an extremely successful defines business in America. senior management search firm called WhileF other countries honor their kings Ramsey/Beirne Associates before becom- and queens, their sultans and emperors, ing a partner at venture capital firm America celebrates corporate chiefs such Benchmark Partners in 1997. “The major- as Henry Ford, John D. Rockefeller, Estee ity of job creation in this country comes Lauder, Bill Gates, Oprah Winfrey, and from entrepreneurship. That’s why it’s so Pierre Omidyar. great that Bryant is educating its students Along with the great business suc- about entrepreneurship.” cess stories, there are millions of small Indeed, the spirit of entrepre- entrepreneurs carving out their piece neurship has been central to Bryant of the American dream. The most University ever since the institution recent data from the Small Business was founded almost 150 years ago. Administration (SBA) indicates that Just as an entrepreneur must discover more than 600,000 entrepreneurs and meet marketplace demands, so take the bold step each year of starting too did Bryant meet the demand for new employee businesses (i.e. busi- excellent business education. nesses with paid employees). As it grew and matured from a col- Historically, small businesses have lege into a university, Bryant has stayed served as engines of U.S. economic true to its core values — a close-knit, growth. “Over the last decade, small goal-oriented community giving its stu- business have created 60 to 80 percent dents a transformational education. And of the net new jobs,” explains John thanks to this vision, Bryant has produced

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many types of entrepreneurs who share but he attributes the scope of his busi- two important characteristics: a creative ness dealings to something else — a and persistent entrepreneurial spirit, desire for new challenges and an inter- and an ambitious drive to turn their good est in building a legacy with a business ideas into business. that he could pass along to his children. Today, all four of Janikies’ children The Lifer work at The Jan Companies in senior Some people have entrepreneurship management positions and make in their blood. That’s the case with Nick important contributions to the success Janikies ’57, ’86H, whose first entrepre- of the firm. Even Janikies’ grandchil- neurial endeavor involved borrowing dren are getting involved now, although his dad’s car, taking out the back seat, Janikies concedes that for the moment and using the vehicle to run an ash dis- this latest generation may be motivated posal business. to work at Newport Creamery by the Later Janikies helped his dad sell an prospect of free ice cream. old car and was thrilled when his father In some ways, Janikies is the excep- let him keep the $10 profit. Janikies was tion these days. Plenty of entrepreneurs hooked and soon made a business out figure out a way to cash out of their start- of buying and selling used cars. ups soon after the companies become But this was all just a prelude to his established. “Lots of entrepreneurs are biggest venture. After graduating from itching for the next challenge,” explains Bryant in 1957, Janikies began working Peni Garber ’85, partner at the Boston- as an accountant. One of his clients ran based private equity firm of ABRY a burger franchise, and Janikies soon Partners. At any given moment, Garber realized what a profitable enterprise oversees five to ten of her firm’s 50 or so it was. Janikies decided to get into the investments, so she has plenty of hands- burger business himself and convinced on experience working in the trenches Burger King to let him open a franchise with entrepreneurs. “Some entrepreneurs in Cranston, Rhode Island, in 1969. are very good at getting an idea off the Nearly 40 years later, Janikies’ firm, ground, but once it’s up and running with The Jan Companies, owns and oper- a couple hundred employees, they leave ates 96 Burger King franchises across and figure out their next new thing,” she 8 states, plus 3 country clubs and 17 says. “That’s how they get their kicks.” outlets of Newport Creamery, Krispy Not Janikies. Over the years, he’s Kreme, Popeyes, and Country Inn. gotten his satisfaction from building a Janikies acknowledges that he could well-established conglomerate with have made a very comfortable living thousands of employees, many of whom from just one Burger King franchise, have stayed with the company for 30

4 Bryant Spring 2009

290318.P.indd 4 3/2/09 6:05:41 PM “Entrepreneurs have to be able to juggle a huge number of processes,” says Peni Garber ’85, partner at ABRY Partners, a private equity firm. “In my experience, the people who are most successful tend to be those who are incredibly persistent and committed.” Bryant Spring 2009 5

290318.P.indd 5 3/2/09 6:05:55 PM “If there is a problem to solve, even if it is not your job, solve it,” says Sharon Garavel ’85, vice president of Operations and Lean Six Sigma at GE Capital. “The real opportunities are in the grey areas between job descriptions.” 6 Bryant Spring 2009

290318.P.indd 6 3/2/09 6:06:16 PM TuRnIng Ideas InTo BusIness

years or more. “It all started with a dream! essary level of discipline that I would not nities, but they will not knock on your door. Today we have built a business that pro- have had right out of college.” You still have to do something a bit better vides employment and training for more When Buenaga talks about disci- or differentiate yourself somehow.” than 4,000 individuals, preparing them pline, he refers in part to the potentially Buenaga is now hard at work on his for their future roles in the business com- exhausting, buck-stops-here mentality second entrepreneurial venture. He has munity,” explains Janikies. “Thanks to my that entrepreneurs need. “Being an started a small venture capital firm called Bryant accounting training, a strong work entrepreneur is a full-time job, 24 hours IBC Group to provide financing and advice ethic, and persistence, I’ve been able to a day, seven days a week, 365 days a to promising startup companies. Like any prove the theory that the harder I worked, year,” says Buenaga. “You cannot say that entrepreneur, Buenaga has a profit motive, the luckier I became.” but he also wants to share the knowledge he gained in the entre- The Re-inventor preneurial trenches and give back to “The current financial crisis has In 1994, José Buenaga ’82 was let his community. go from Lehman Brothers. Painful its roots in greed. Entrepreneurs as it was to be laid off, he now need to contribute to their The Intrapreneur calls the experience a blessing in communities and take more While many entrepreneurs spend disguise. While he might not have responsibility for their days working nonstop on had the courage to quit a steady their own companies, other entre- job in the finance industry, he had creating real preneurs collect a steady paycheck always wanted to be an entrepre- value for their and channel their entrepreneurial neur. The layoff gave him the push customers.” energies into advancing the goals he needed to start his company, José Buenaga ’82, of their corporate employers. Easy Money, in his home com- founder, IBC Group Sharon Garavel ’85 is one monwealth of Puerto Rico, help- such internal entrepreneur — ing individuals with small loans. sometimes called an intrapreneur. By 2002, he was named Ernst & Garavel has spent nearly 20 years Young’s Entrepreneur of the Year. When something is your boss’ responsibility.” at GE Capital, most recently as vice he sold Easy Money to Citigroup a decade His education at Bryant, an MBA president of Operations and Lean Six later, Buenaga had built the company into a from Duke, plus years of experience in the Sigma. A commercial and consumer powerhouse with more than 65,000 clients. finance industry had given Buenaga the lender with products ranging from pri- What did he learn about entrepreneur- skills and the perspective to succeed with vate label credit cards to financing ship along the way? Easy Money. For others facing unexpected for commercial aircraft, GE Capital has “I believe that any entrepreneur needs layoffs or career changes, Buenaga advises about 75,000 employees worldwide. preparation, passion, patience, and a com- some introspection. “If you like to work Despite being an employee at a gigantic mitment to public or community service,” on your own and you don’t want a boss on corporation, Garavel defines herself as he says. “When the time came to build my your back, being an entrepreneur could a very entrepreneurial person. “Being an own company, I had more than a dozen be the right path for you,” he says. “This entrepreneur or having an entrepreneurial years of experience. I had acquired a nec- [economic] environment creates opportu- mindset in a large company involves

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having a passion for solving problems, “The real opportunities are in the grey being a curious learner about things that areas between job descriptions. If some- are occurring outside your environment, thing is not getting done, it is yours to fix.” selling your ideas, and generally being both innovative and flexible,” she says. The Entrepreneur Enablers At GE, Garavel essentially is empow- Entrepreneurs have many sources of sup- ered to lead her own group. When she port — family, friends, teachers, mentors, was given responsibility for Six Sigma, and other entrepreneurs. But it would be Garavel drove an initiative to bring in much harder for almost any entrepreneur “lean” operations concepts and adapt the to start a business were it not for the ven- manufacturing-based tools of Six Sigma ture capitalists, private equity firms, and for the financial services sector. angel investor groups. She subsequently helped launch a “Instead of turning to their Aunt Sue new program called At the Customer, For and asking to borrow a portion of her the Customer that shares GE best prac- life savings, entrepreneurs now have pro- tices, including Lean Six Sigma tools, with fessional sources of funding to pursue,” GE Capital’s customers to improve their says Gerald Cerce ’69, who co-founded own processes. “By making our custom- AAI, a jewelry and accessories company ers financially healthier, we drive demand that grew to $240 million in sales. After for GE Capital’s products and services,” selling his share of the accessories busi- explains Garavel. “As they grow, we grow.” ness in 2000, Cerce took a couple of years Although she recognizes that many off and then joined the world of profes- of her fellow entrepreneurs might feel sional financiers by starting Management stifled within a large corporation, Garavel Capital with two partners. The company points out that structure and size can operates as a pledge fund, bringing prove advantageous when it comes to potential investments to high net worth taking an idea and transforming it into a individuals who decide on a case-by-case marketable product or service. For exam- basis whether or not to participate. ple, GE has developed a New Product Besides Management Capital, Cerce Introduction process to channel innova- also participates in the Cherrystone tive thinking and help would-be internal Angel Group, a Rhode Island–based entrepreneurs identify and size a market angel investment company that invests for their new product. between $100,000 and $500,000 in seed For her fellow intrapreneurs, Garavel money to help entrepreneurs get their believes that proactive problem-solving ideas off the ground. Cerce describes is key to forging a successful and reward- angel investors as people who want to give ing career. “If there is a problem to solve, back to the entrepreneurial community even if it is not your job, solve it,” she urges. and make a profit while doing so. “We’re

8 Bryant Spring 2009 At Cherrystone Angel Group, a Rhode Island–based investment company, Gerald Cerce ’69 helps entrepreneurs launch their businesses with seed money. “At the end of the day,” he says, “you’re really investing in people.”

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Generations

like the minor leagues compared to the goal. in my experience, the people who the qualified people they need to grow VC [venture capital] major leagues,” he are most successful tend to be those who their companies. explains. “at Cherrystone, i put my faith in are incredibly persistent and committed.” of course, the credit crisis makes it evaluating the individual rather than the But being persistent doesn’t mean difficult for entrepreneurs with any level business plan or concept. at the end of the fruitlessly banging your head against of experience to get access to necessary day, you’re really investing in people.” a wall or throwing good money after bad. capital. But persistent and creative entre- Up in those VC major leagues, David Garber notes that “you need to be able preneurs will always find ways to convince Beirne’s firm Benchmark Capital makes to step back and ask, ‘is this a good idea? bankers to lend. “if the banks are shut investments that can reach as much as Does it have legs?’” down in new england, you find a way to $10 or $15 million. Beirne agrees go outside of new england,” that the process of raising capi- says Cerce. “You go to the ends tal is very different for contem- “Entrepreneurs have to be able of the earth if you have to. that’s porary entrepreneurs than for what you need to do in order their predecessors. “the venture to identify their own strengths to be a successful entrepreneur.” capital and private equity indus- and weaknesses. Then they For entrepreneurs who are lucky tries have become very insti- should recruit people who will enough to get offered financing, tutionalized over the last 30 complement their skill set. Bill Peni Garber has three words of years,” says Beirne. “i wish there advice: take it all. she says that Gates needed Steve Ballmer as a had been this level of support at many people, reluctant to dilute their the time i got started.” partner to manage ownership stake, underestimate Venture capital and angel the business, and how much capital they’ll need and investing firms still generally he was smart leave money on the table. “Don’t invest at an early stage in a com- enough to know it.” undercapitalize — take more than pany’s development, but private you think you’ll need,” she urges. equity firms — like Garber’s DaviD Beirne ’85, “Because if you have to go back later partner, Benchmark Capital aBrY Partners — generally put with your hand out, the leverage in larger sums of money into estab- the conversation will be reversed.” lished, later-stage entities. David Beirne offers a different Garber says that the level of support The Entrepreneurial Spirit sort of counsel — the same advice he’s may be higher than in the past, but that to many people, the idea of trying some- given to his sons, nieces, and nephews. entrepreneurs still need incredible lev- thing entrepreneurial in a recession “i tell them that i believe entrepreneur- els of persistence and marketing talent. could seem foolhardy, but entrepreneurs ship is the highest possible calling — the “entrepreneurs need the ability to sell have a knack for seeing a silver lining place where you find self-actualization their idea to potential partners or inves- of opportunity even in the darkest in Maslow’s hierarchy of needs,” he says. tors,” she says. “they have to be able to economic times. For example, Buenaga “entrepreneurship lets you create some- juggle the huge number of processes and notes that massive corporate layoffs have thing in your own image that did not people involved in starting a company enlarged the pool of available talent, exist before you arrived. in my opinion, and moving everyone toward a certain making it easier for entrepreneurs to find that’s the definition of career success.”

10 Bryant Spring 2009

290318.P.indd 10 3/11/09 5:01:15 PM Through the Generations

Across the decades, Bryant has developed a reputation for producing great entrepreneurs. In fields from aerospace to fashion, from the Internet to private equity, Bryant alumni have a tradition of starting companies that advance to the forefront of their fields.

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of an air freight delivery business in north- A MAN ON A MISSION ern New Jersey, but sold that company in 1978 to focus on his work at MCI. “I felt Thomas Marotta ’67 is turning control valves into a it was very important to make sure that ticket for space travel. MCI succeeded,” he says. “This business had a heritage to it. We had developed so many unique products, especially for the military.” ith more than four decades founded Marotta Controls in 1943 to For Marotta, being an entrepreneur of experience in the busi- develop control valves for rocket engines. means being willing to take risks and antic- ness world, Thomas The elder Marotta built the control valves ipate markets before they actually exist. It’s Marotta ’67 knows that for the Bell X-1 rocket plane that first this kind of foresight that has led Marotta Wtiming is everything. His company, broke the supersonic flight barrier and to make MCI a player in the nascent com- Marotta Controls Inc. (MCI), develops developed pioneering control technolo- mercial space travel industry. SpaceX — the and produces control valves and other gies for NASA’s Saturn and Apollo space Space Exploration Rocket Company — has precision-engineered components for programs. As a result, Marotta Controls is become one major MCI customer. the aerospace industry and the military. the only privately held company to have its “It takes a bit of vision to imagine Over the years, MCI has had to calculate name on the moon. a world of commercial space travel, but when to take risks on the development Today, the company is still at the cusp people are already paying a lot of money and production of new technologies. of history, helping to develop compo- to buy tickets into space,” says Marotta. Thomas Marotta’s father, Patrick T. nents for missile defense and pneumatic “They obviously want to fly, and we’ll be Marotta, an aeronautical engineer, started weapons ejection systems for military able to provide the components to help a tradition of strategic timing when he aircraft. As the precision of smart bombs them fulfill that goal.” and missiles increases, the weight of the Today, MCI has about 150 employees explosive needed to destroy the enemy based in Montville, New Jersey, and a target decreases, allowing the military to long roster of satisfied corporate and gov- use clean, reusable pneumatic systems ernment customers. MCI builds satellite to release the weapons from aircraft. components for Europe, valves for Japanese These smaller, more precise bombs cause rockets, and missile parts for various for- less damage to the surrounding target eign militaries. Over the years, MCI has area, thus reducing civilian casualties. received more than 200 patents for various Marotta’s company is building controls, and still has 40 valid patents. thousands of these pneumatic weapons Marotta reflects that his company has ejection systems by using lean manufac- survived and prospered for so many years turing processes and highly automated through pride in its work and disciplined machines that check their own work. He investment in new technologies and estimates that technology has allowed his products. He proudly notes that his com- firm to stay competitive by reducing his pany is the only small business to twice production line manpower needs by 80 receive NASA’s George M. Low Award percent since the year 2000. for quality and excellence. An emphasis on efficiency is not new to “The ultimate common goal of our Marotta. After studying business manage- research and development programs is ment at Bryant, he joined his father’s com- to transfer our science into competitive, pany in 1967. The business had endured real-world products for advanced, high- some erratic performance over the years performance applications,” says Marotta. and the younger Marotta wanted to reduce “These applications improve the perfor- the company’s volatility and set it on a path mance and survivability of our military, of steady growth and profitability. and ultimately reduce costs because they He entered the management ranks in are designed to last. Without our highly 1972 and became president at MCI in 1980. skilled engineers and machinists, we He also spent much of the 1970s as owner would not be where we are today.”

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290318.P.indd 12 3/2/09 6:07:40 PM any people have trouble finding clothes that fit them, but Patricia Kordalski had more trouble than most. MStanding 5-feet 10-inches tall, she learned to sew as a teenager just so she could make herself pants that were correctly proportioned to her height. Kordalski knew she wasn’t the only woman with this problem. Her basketball teammates at Bryant, where she studied business and marketing, had just as much difficulty finding suit- able clothes. So in 1991, seven years after graduation, when Kordalski was exploring different business ideas, the notion of starting a clothing company tailored to the needs of tall women seemed like, well, a perfect fit. She called her new catalog clothing company Long Elegant Legs. Like many entrepreneurs with a prag- matic streak, Kordalski didn’t quit her day job selling computers at Digital Equipment Corporation to start her own business. For A PErFECT FIT two years, she worked nights and week- Patricia (Farrand) Kordalski ’83 transforms a fashion ends to establish Long Elegant Legs before making it her full-time job. dilemma into a business coup. Kordalski started the company in her house with an initial investment of $25,000 and two part-time employees. Today, Long Elegant Legs has grown to Kordalski started Long Elegant Legs be disappointed with the low response 22 full-time employees with annual rev- as a mail order catalog company, but she rate. “I did not realize that just because enues of $7.5 million. “Bryant taught me quickly saw the commercial potential of the women were tall didn’t necessar- to look beyond what you see and think the Internet and began selling online in ily mean that they would buy clothing about how the market is going to evolve,” the late 1990s. These days, the catalog through the mail,” she explains. “A f ter says Kordalski. From the time she hired serves mainly to drive Internet sales. “The the first year, I realized that I had to her first employee, she knew the com- Internet is a fantastic, cost-effective way to match demographics with behavioral pany held an important role in the mar- reach customers,” says Kordalski. “Pretty data. The women needed to have a pro- ketplace. Even through the lean years, much every week, we can contact our pensity to make mail order purchases.” Kordalski says she never doubted that her customers to announce new products or a The current business climate may company would succeed. sale. We can decide to have a special sale pose challenges for small entrepreneurs, “We received so many letters from on sportswear, send out an e-mail an hour but Kordalski believes there are always people who were overjoyed that they later, and get an instantaneous response.” opportunities for new businesses. “If you finally had found pants that were long But Internet or not, if there’s one have passion for your idea, and the forti- enough,” she says. “Especially for teen- piece of advice she could give any bud- tude to follow through, then you’re half- age girls, clothing and self-image are so ding entrepreneur, it would be to know way there already,” she says. “Believe in important. We had customers writing how to reach his or her target mar- yourself and ask for advice. Most people about their daughters putting on the ket. During her first year in business, are very happy to help — you can learn a pants and crying because they were so Kordalski spent money targeting her lot from their successes and failures. You happy to have pants that fit.” communications to tall women, only to just have to ask.”

Bryant Spring 2009 13 EntrEprEnEurship thrOuGh thE GEnErAtiOns

Bertrand and his management teams have already expanded the businesses and have plans for future growth. Despite the difficulties caused by tight credit and declining revenues, Bertrand thinks this could be a great time for entrepreneurs with investment money. “If you’re currently sitting with cash and are interested in getting into a particular industry, there are some great opportunities to acquire businesses at very low prices,” he says. On the other hand, Bertrand believes starting a business from scratch today would be tough given the difficulties of raising capital. He’s ada- mant that entrepreneurs should be well financed before stepping into the fray. “I’ve seen companies that were doing C OLLECTING SUCCESSES well from a growth perspective, but From baseball cards to venture capital, Eric Bertrand ’94 encountered problems because they needed so much additional capital knows how to pick a winner. to sustain that growth and they had problems getting the financing,” he explains. “You need to ensure that ots of kids love comic books. But At Palisade, Bertrand helped man- you have adequate contingency capital it takes an entrepreneur like Eric age $285 million worth of investments, available in case revenues are not as J. Bertrand ’94 to turn that love serving on the boards of a dozen compa- high as planned or costs are greater into a business. When Bertrand nies. He spent a lot of time working with than anticipated.” wasL just 16 years old, he rented retail space entrepreneurs, sometimes even tempo- He credits Bryant for giving him in his hometown of Broad Brook, Conn., rarily joining management teams to take a solid financial background plus the (with his dad as co-signer on the lease) the role of CEO or CFO. experience of serving as VP of retail and and opened his own specialized hobby Most recently, he left Palisade to run vending at BRYCOL. “We employed shop selling comic books, coins, and base- the private equity group of the financial more than 100 students,” Bertrand ball cards. services firm Greystone & Co. While con- recalls. “We handled all the vending on Bertrand sold the hobby shop to a tinuing to look for new acquisition oppor- campus and managed the on-campus small chain before starting at Bryant in tunities, Bertrand serves as CEO of a bar, pizza restaurant, and retail store. 1990. While at the University, he stud- New York–based post-production facility BRYCOL was a real company with rev- ied applied actuarial mathematics and that Greystone acquired two years ago. enue, expenses, and even a corporate finance, also gaining valuable entre- But even as he has helped other office. I learned really valuable lessons preneurial experience by serving on the entrepreneurs fulfill their dreams, from that experience.” board of directors for the student-run Bertrand has kept an eye out for inter- Based on his 20 years of being an corporation BRYCOL. esting entrepreneurial opportunities entrepreneur, funding entrepreneurs, and After graduating from Bryant in of his own. He’s acquired two differ- working with entrepreneurs, Bertrand 1994, Bertrand immersed himself in the ent companies — a 19-store chain of says hard work and tireless dedication world of private equity and venture capi- Midwestern eye care stores and a ship- remain the keys to success. “If you’re tal, first as a member in Aetna’s Private ping company that consolidates small needed in a board meeting, that’s where Equity group, then as a partner at a New package and LTL (less than truckload) you go,” says Bertrand. “If there’s a mess Jersey–based private equity and ven- volumes to help small and medium- on the floor, you grab a mop. You do ture capital fund called Palisade Capital sized companies save up to 50 percent whatever you have to do to make your Management. of their shipping costs. In each case, business succeed.”

14 Bryant Spring 2009 track of their workflow, calendars, new business prospects, receivables, and much CLEANING Up more. “Because every management system Joseph D’Ambrose ’08 found opportunities in is custom built to meet the specific needs of each client, no technical skill or training is Web sites — and in wash cycles. necessary,” explains D’Ambrose. “We also provide custom GoSystems that can orga- nize an entire business, so all important f you want evidence of how the common with previous generations — a data is available online, from any computer, manifestations of entrepreneurship commitment to hard work. “Being an in a password-protected site.” have changed over the years, look no entrepreneur is not your typical 40 hour In the current recession, D’Ambrose further than Joseph D’Ambrose ’08. per week job,” admits D’Ambrose. “I am has seen potential clients become more ILike entrepreneurial children from president of Normal Kings and partner in cautious with their budgets, but he feels earlier generations, D’Ambrose had a Expedient Laundry all day and all night. confident that demand for Internet con- leaf-raking business in his neighborhood Being an entrepreneur defines you. At sulting services will stay strong. “In this while growing up. any moment, you might need to solve a economy, it’s especially important for But unlike them, he also picked up a client’s problem or capture a new oppor- businesses to be represented online,” he bit of extra cash selling music and books tunity. You have to be ready to face what- says. “Many of our clients have told us on eBay. And he has been getting paid ever comes your way.” that their business has picked up since to design Web sites ever since he was in D’Ambrose believes that entrepreneurs we launched their Web site. Whether high school. need to balance passion and optimism they are looking for Chinese food or solar So perhaps it was a natural pro- with the more prosaic skills of organization panels, the fact is that people go online gression when D’Ambrose started two and time management. To help improve these days to find what they need.” thriving businesses during his first year the efficiency of his own company and As he helps his clients navigate tur- at Bryant University. He co-founded his clients’ businesses, D’Ambrose had bulent times, D’Ambrose likes knowing Normal Kings, a Web design com- Normal Kings design back-end intranet that he is the master of his fate. “To be an pany with his best friend John Wallace. management systems called GoSystems. entrepreneur is to claim control over your Starting with just two clients, Normal Customized for the needs of each client, life, deciding that you are going to truly Kings has since grown to serve more these GoSystems can help companies keep write your own book in the world.” than 110 clients in just four years. D’Ambrose started his other firm, a laundry subscription service called Expedient Laundry, with the help of classmates Michael Hajjar ’08 and Anthony DeAngelis ’06. While Expedient Laundry currently operates only at Bryant, D’Ambrose hopes to expand the business to other college campuses, per- haps using a franchising model. Employees don’t get to choose their co- workers, but one benefit of starting a com- pany is getting to hand-pick your colleagues. Thanks to the success of Normal Kings, D’Ambrose has been able to hire four full- time employees, and he found it satisfying to be able to hire his sister Liz as an account manager and his longtime friend Mike as senior developer. Even though D’Ambrose comes from the newest generation of Bryant’s entre- preneurial alumni, he shares one thing in

Bryant Spring 2009 15

290318.P.indd 15 3/6/09 5:40:52 PM Teaching Entrepreneurship: Bryant’s Economic Stimulus Program

290318.P.indd 16 3/6/09 5:41:02 PM The Elevator Pitch Competition — where Bryant freshmen learn to swim in the deep end — is just one of the ways Bryant instills a spirit of entrepreneurship in students.

undreds of students pack into the Bello Center Grand Hall. Some sit quietly reviewing their notes. Others practice Hdeep breathing exercises to calm their nerves. A few chatter loudly, energized by the palpable excitement in the air. And then, Bryant president Ron Machtley walks up to the podium. It’s time to begin — no turning back. At Bryant’s semi-annual Elevator Pitch Competition, 13 teams of first- year students will present a 90-second E-Pitch competitors present a 90-second new venture pitch to business leaders, faculty, and fellow students. new business pitch to a crowd. At the judges’ table: Andy Thomas ’89, former president of Heineken USA; Evie (They are, after all, college freshmen — enterprise development while learning Goldfine, co-founder of Omnipoint (now and fun is part of the sell.) At the end of the fundamental skill of teamwork. T-Mobile); and Alan Hassenfeld ’85H, the night, winners are announced, prizes “This course is the cornerstone, the retired CEO of Hasbro, among other awarded, and stresses finally dissipate. driver, of our curriculum,” says Jack business-world giants. As a send-off, guest judge Benjamin Trifts, dean of the College of Business. One after another, teams troop to Zander, acclaimed conductor of the Boston “Until someone tries to sell something, the front of the Hall to sell their business Philharmonic Orchestra, delivers a speech it is difficult to understand the complex, proposition. “When you can’t take that leaves everyone motivated to go out interrelated components of creating a the cold no more, we’re right outside and “dare great things,” win or lose. business.” He explains that Bryant, like your door,” chants a pair of students Bryant’s E-Pitch Competition, one other universities, provides students with in support of their company GoCo, of the largest student competitions of the building blocks to effectively run an a campus establishment that would its kind in the country, is part of organization, e.g., accounting, marketing, provide hot cocoa outside the residence Business 101, a trial-by-fire course and management. But unlike other halls. Another presenter struts to the required of all Bryant students. Within schools, students at Bryant have a context stage wearing a pair of sneakers with the first six weeks of class, student in which to place their education, having Entrepreneurship: his new suit. His pitch? Color Your Soles, groups generate an idea for a business. been a “jack of all trades” in BUS 101. a customizable shoe design company. They spend the remainder of the “We don’t make you wait until The pitches incite admiration, course creating a business and marketing a senior year capstone project to try Bryant’s Economic Stimulus program laughter, or amazement from the crowd. plan, incorporating all aspects of this stuff out,” Dean Trifts says. “Our

Bryant Spring 2009 17 TEACHING ENTREPRENEURSHIP

Benjamin Zander, conductor of the Boston Philharmonic, was the keynote speaker at Bryant’s Fall 2008 Elevator Pitch Competition.

Sandra Enos, Ph.D.

students are learning to swim in the Fast-forward to 2007: Cary Collins, In particular, Segovis feels that deep end in their first semester.” a professor of finance with a history of philanthropy has changed people’s owning businesses and consulting for new view of business. At the national A Tradition of Innovation enterprises, joined Bryant as the Trustee Collegiate Entrepreneurs Organization This learn-by-doing philosophy is not Professor of Entrepreneurship. With (CEO) student-group conference new to Bryant. The school began in direction from Dean Trifts and President last fall, Segovis noticed a growing 1863 as part of Henry Bryant and Henry Machtley, he formed a working group to number of sessions about nonprofit Stratton’s venture to create practical explore ways to enhance entrepreneurship entrepreneurship. “For them it’s not business-education opportunities programs and develop the curricula. just about making the money, it’s about throughout the country. Students, many As of this spring, Bryant has added an giving back,” he says. Segovis sees straight off of Civil War battlefields, entrepreneurship minor, and a major this as a millennial paradigm shift entered only with the requirement that degree program is being developed. from the days of will-it-make-me-rich they could read English, and months later James Segovis, executive in residence mentalities. they would graduate fully prepared for in Bryant’s management department, Sociology professor Sandra Enos a job. Bryant’s early Providence-based is one of the faculty members who have is also a member of the working group students attended lectures, but most of been integral in curriculum development. for the entrepreneurship program. She their learning occurred in rooms adjacent “Bryant students really learn how to create believes that Bryant students want to the lecture hall set up as mock-banks, and organize a venture, and it doesn’t to make a contribution; they want to stores, and offices. As the college became a matter if it is a profit or a nonprofit,” he make a difference. “In our classes, we private venture, breaking from the Bryant says. “Programs at other institutions help students learn how to be change and Stratton chain, it continued to hold might just be high-tech or medical- makers,” she says. “Through in-class practical learning and innovative skills focused, but I see us in a much more instruction and service learning instruction at the center of its curriculum. hybrid model. We offer a critical skill set.” experiences, they are introduced to

18 Bryant Spring 2009

290318.P.indd 18 3/6/09 5:41:29 PM Cary Collins, Ph.D.

the support of all faculty — we don’t see Time management and project barriers here.” management skills have become What this affords the University is increasingly important components curricular and co-curricular programs of business planning and execution as designed and supported by an eclectic well, says Saraoglu. “If you come up group of individuals. And what many with an innovative concept, you have to of them bring to the table, a past that be very fast about bringing it to market includes business ownership and a Ph.D., because there are probably many other will provide students with a competitive smart people out there thinking about advantage, according to Trustee the same thing,” he says. Professor of Management Mike Roberto. Although a number of students will “A lot of entrepreneurship programs graduate from Bryant prepared to out there have either great academics launch a business or product, that is not who can lay out theory or seasoned the overarching goal of the program. innovative social entrepreneurship entrepreneurs who can tell war stories,” “If they work at an organization, practices, which are not only applicable he explains. “But the faculty teaching they’ll become ‘intrapreneurs,’” says here in the United States but also entrepreneurship at Bryant have this kind Segovis. “They’ll have to create new globally.” of hybrid background — it’s hard to find markets, new business divisions, and people like this, and we have several.” learn how to manage working as Crossing the Aisle change agents in the context of their To address the need for social-based Critical Outcomes organizational setting.” enterprise skills, and to reflect With a well-rounded faculty and blended Segovis also feels that part of being Bryant’s focus on providing students curriculum in place, Bryant is committed an entrepreneur is discovering the with an education that integrates to prepare students for the global right position for you. “I don’t teach business and liberal arts, faculty economy that each of them will face upon someone to find a job, I teach them to from both the College of Arts and graduation. Hakan Saraoglu, professor create a job,” he says. “Don’t depend Sciences, like Enos, and the College of of finance, feels that students interested on the company. Your happiness lies in Business, like Segovis, were brought in entrepreneurship have to be ready creating an opportunity and exploiting to the table to design the best possible for the fast pace of business today and the those opportunities.” ways of teaching entrepreneurship. increased focus on globalization. For Mike Roberto echoes the sentiment: According to Dean Trifts, this kind of example, he says, they might have to go “We’re preparing students for their life, collaboration is unique to Bryant. “At to China to make a prototype and to not just the day they graduate.” other universities, the barriers between Vietnam for manufacturing. “You have departments, and especially between to be prepared to draw on resources Many thanks to Bryant faculty who also colleges, are distinct,” he says. “The throughout the world and understand contributed to this article: Lori Coakley, Ph.D., entrepreneurship program doesn’t fit the cultures you are working with,” associate professor of management; and Sandra into any department. It’s a program with he explains. Potter, Ph.D., adjunct professor of marketing.

RECENT ENTREPRENEURIAL HIGHLIGHTS

In the last 20 years, many new developments 1996: The Chafee Center for International 2006: Cary Collins, Ph.D., joins Bryant have added structure to Bryant students’ Business (previously the R.I. Export as the Trustee Professor of passion for innovation. Assistance Center) and the R.I. Small Entrepreneurship. Business Development Corporation 2007 & 2008: Bryant’s Collegiate Entrepreneurship 1992: Professor Jack Keigwin, an Ernst (housed at Bryant from 1983–2005) Organization (CEO), a popular and Young Entrepreneur of the Year, engage students in internships and co-curricular program, is named begins teaching Leadership and provide a resource for research. best chapter in the country. Entrepreneurship, inspiring many stu- 2001: Troy Byrd ’00 joins Bryant as the 2008: Students in Free Enterprise (SIFE), dents with his stories from the field. head of the Global Entrepreneurship the organization’s New England 1990s: BRYCOL, a student-run multi-business Program and launches Bryant’s Regional Competition winner, con- venture, affords hundreds of Bryant stu- Elevator Pitch Competition. sults for local businesses. dents real entrepreneurship expertise.

Bryant Spring 2009 19 Around And About

SPoTLIgHT oN: AtHLEtES SuPPort r.I. Food bAnK ATHLETICS in the first season of Bryant’s four-year transition to full Division i membership, the Bulldogs proved that they have the talent, energy, and drive to take on the competition — and succeed.

FALL SPORTS TRIUMPH IN opponents, capturing a total DIVISION I TRANSITION of 33 wins combined. All eyes were on Bryant’s fall Soccer wasn’t the only sports teams as the Bulldogs stand-out. Football posted a embarked on their first season winning season, earning them of Division I competition. The a spot in the NCAA Division I University’s student-athletes history books (see story, right). Last fall, the Student-Athlete Advisory Council (SAAC) sponsored a food rose to the challenge and came The volleyball team knocked drive for the Rhode Island Food Bank. Student-athletes collected more away with several highlights. off Providence, Holy Cross, than 400 pounds of canned food at a Bulldogs football game, in the Women’s soccer wasted little Quinnipiac, and Dartmouth en residence halls, and in the Unistructure rotunda. time securing the school’s route to 16 wins on the season. first Division I win, knocking Cross country placed ninth off Northern Colorado, 3–2 in at the Northeast Conference overtime, on August 22. Men’s championships, men’s tennis enjoyed a tremendous fall team that won the International soccer followed suit a few weeks defeated Hofstra, and women’s season including a first-place Lacrosse Federation (one later with a 2–0 win at University tennis picked up a solid win over finish at the Yale Invite. of two organizations that of Richmond. Each program Providence College, while field The strength of these programs merged to form the FIL) World notched wins over Division I hockey capped off its season with and the dedication of Bryant’s Championship in Perth, a well-deserved 3–1 win at Siena. student-athletes during this Australia. However, the U.S. Perhaps the highlight of the sports season have established will almost certainly be an fall came in men’s golf. Led by the University as a new underdog at the 2010 champi- the play of Alex daley ’11 and powerful force in NCAA onships, and Pressler and (Hudson, Mass.), Jason thresher Division I athletics. Team USA will meet with stiff ’10 (West Suffield, Conn.), Scott competition. Congdon ’10 (Foxboro, Mass.), PRESSLER NAMED HEAD Based on his successful Mike Pyne ’10 (Foxboro, Mass.), COACH OF 2010 U.S. MEN’S collegiate coaching career, and Erik tankenow ’11 (Worcester, LACROSSE TEAM compiling a 229-102 record Mass.), the Bulldogs captured Bryant men’s lacrosse coach, in 22 seasons, Pressler is sure the New England championship Mike Pressler, has been named to be up for the challenge. with a first-place finish. They head coach of the U.S. men’s “Mike is an outstanding coach defeated more than 40 schools lacrosse team that will compete who commands great respect from around the region includ- in the 2010 Federation of throughout the lacrosse com- ing Yale, Harvard, Dartmouth, International Lacrosse (FIL) munity,” says Bryant athletic URI, Brown, Boston College, World Championship in director bill Smith. “He has University of Connecticut, and Manchester, England. enjoyed extreme success every- Holy Cross. Daley tied for first Pressler, who recently began where he has been and will place at the New England cham- his third year at Bryant, was an undoubtedly continue to do so Julie Geonnotti ’10 (Louis Park, Minn.) pionships, while Thresher assistant coach for the 2002 U.S. in this new endeavor.”

20 Bryant Spring 2009

290318.P.indd 20 3/6/09 5:41:48 PM DIVISION I FOOTBALL: BULLDOGS POST WINNING SEASON

As the 2008 Bryant football season the season, Bryant made history opened, many fans had tempered on September 27 with a 24–14 expectations. After all, this was win over Wagner College on Staten Bryant’s first year competing at the Island. It was the program’s first Division I level and no one knew victory over a Division I opponent. for sure just how the Bulldogs Junior Jerell Smith ’10 (Brooklyn, might adapt. N.Y.) rushed for 143 yards, and the But after wrapping up a defense held Wagner to only 219 successful season with a 23–0 yards of total offense in the win. win at Saint Francis, one thing is After transferring from Howard certain: the Bulldogs belong in University, Smith has enjoyed a Division I. With seven total wins breakout year rushing for a team- on the season, Bryant earned a best 1,254 yards and scoring six spot in the record books by having touchdowns. Teammate Lindsey Offensive lineman Patrick Gauthier ’10 (Woonsocket, R.I.) the second-most wins by a school Gamble ’10 (Roxbury, Mass.) added playing its first season of NCAA 792 yards rushing on the season Division I-AA football. and scored seven touchdowns, for much of the season, including led a powerful defensive line that Behind a prolific offense featuring giving Coach Fine’s Bulldogs a no. 1 at one point for turnovers racked up 30 quarterback sacks on two potent running backs and one talented one-two punch out of the gained. The defense intercepted a the season with Smith accounting of the nation’s stingiest defenses, backfield. school-record 17 passes and forced for nine by himself. fifth-year coach Marty Fine led Wins soon followed against a school-record-tying 13 fumbles. With Jerell Smith and Gamble the Bulldogs to the program’s Robert Morris and Duquesne as the Paul Polomski ’10 (Franklin, Mass.) providing the rushing offense fourth-straight winning season. Bulldogs closed out the year with a and Bryce Martins ’09 (Uncasville, behind quarterback Jay Graber ’08 The Bulldogs have demonstrated three-game win streak capped by Conn.) each had three interceptions (Clarksburg, N.J.), the Bulldogs marked future promise for a the shutout win over Saint Francis in while freshman Samad Wagstaff ’12 closed out the year strong. Smith program that is only 10 years old. Loretto, Pa. (New Rochelle, N.Y.) picked off five rushed for more than 100 yards in Following wins over Merrimack Forcing 30 turnovers, Bryant’s passes in the first two games alone. seven games including a career- and Southern Connecticut to start defense held a top-five ranking Don Smith ’10 (Attleboro, Mass.) best 221 yards against Southern Connecticut. Graber was steady in the pocket, completing a school- record 57.9 percent of his pass attempts for 1,676 yards and 13 touchdowns. Graber’s primary target was senior Ross Giffune ’09 (Foxboro, Mass.) who caught a team-best 29 passes for 340 yards. He caught his first career touchdown pass in the season finale. Following two consecutive NCAA playoff appearances and despite not being eligible for the postseason play until 2012 (as part of the provision for school’s reclassifying to Division I), Bryant’s 2008 Jerell Smith ’10 (Brooklyn, N.Y.) rushed for 1,254 yards on the season. Quarterback Jay Garber ’08 football season will certainly be (Clarksburg, N.J.) remembered as one of its best ever.

Bryant Spring 2009 21 Around And About

banking, mortgages, and credit. SPOTLIGHT ON: They spoke about what led to the growth and collapse of the subprime lending market, what FACULTY policy steps have been taken, and how to create a more stable and Bryant faculty regularly showcase their expertise resilient financial market. by publishing books and articles, presenting at con- With the success of these two ferences, and even delivering special, on-campus events, Bryant faculty demon- strated their active contributions lectures. this year many new accomplished academi- to a better understanding of the cians join their ranks, contributing to the University’s issues surrounding the crisis and unparalleled knowledge base. its future implications.

WHAT YOU DON’T KNOW MIGHT HElp YOU Roberto has been at Bryant UNDERSTANDING THE the consequences of an out-of- Do you worry about the bad for three years. He is the author ECONOMIC CRISIS control national deficit. news that you have not heard of Why Great Leaders Don’t Take Late last August, the Chafee Two weeks later Wall Street yet? If so, you may find answers Yes for an Answer (Wharton Center for International suffered its worst decline in trustee professor of manage- School Publishing) and was Business at Bryant University in decades. As officials in ment Michael Roberto’s newly previously a faculty member at hosted an Economic Summit Washington created a bailout published book, Know What Harvard Business School. His featuring Bryant faculty and package, Bryant faculty once You Don’t Know: How Great research, teaching, and consult- alumni sharing scenarios again shared their expertise Leaders Prevent Problems Before ing focus on strategic decision- for resolving issues that with the public on October 6 at They Happen (Financial Times making processes and senior threaten economic secu- a symposium titled “Financial Press). This book provides management teams. rity. Keynote speaker David Markets in Crisis: What It Means practical advice on how to iden- On May 5, 2009, Roberto Walker, CEO and president for You.” Hundreds packed tify the threats that may cause will share his insights at a of the Peter G. Peterson Bryant’s Janikies Theatre to hear major pain for your enterprise seminar offered through the Foundation and former U.S. from Bryant University profes- and details the seven key capa- Executive Development Session comptroller general, spoke sors Peter Nigro and M. Cary bilities that every leader must at Bryant. In the session, which about his mission to focus the Collins, both leading scholars develop to become a better is designed to benefit members government’s attention on and practitioners in the fields of problem-finder. of top management teams, Roberto will show participants how to stimulate dissent and debate, and use conflict to build consensus. As he does in his books, Roberto will draw on case studies from leading corpo- rations to explore how leaders can achieve “diversity in coun- sel, and unity in command.” To register for Roberto’s seminar visit edc.bryant.edu or call (401) 232-6200. To buy a copy of his books, log on to bryant.bkstr.com or visit your favorite bookseller. (Roberto will also speak at the Alumni Leadership Peter Nigro, Ph.D. Cary Collins, Ph.D. Weekend in April, see pg. 31.)

22 Bryant Spring 2009

290318.P.indd 22 3/6/09 5:42:09 PM BRYANT WELCOMES NEW College of Business Teresa Srdan FACULTY McCarthy, Zdravkovic, This year, nine faculty members A. Can Inci, Assistant Assistant joined the Bryant academic Associate Professor, Professor, community. Professor, Marketing; Marketing; Finance; Ph.D., Ph.D., Ph.D. candi- College of Arts and Sciences University University of Tennessee; MS, date, St. Louis University; MBA, of Michigan; University of Rhode Island; BS, University of Southern Indiana; Allison Butler, MBA, Ohio State University; University of Massachusetts BS, University of Evansville Assistant MS, University of London; BS, Professor, Bogazici University Jane McKay- Xiaochuan Applied Nesbitt, Zheng, Assistant Psychology; Crystal Jiang, Assistant Professor, Ph.D., Boston Assistant Professor, Accounting; College; M.Ed., University of Professor, Marketing; Ph.D., Drexel Virginia; BS, The College of Management; Ph.D., M.Sc., University; MS, William & Mary Ph.D., Temple B.H.Ec., University of Manitoba University of Mississippi; MS, University; Graduate School of People’s Christopher Morse (photo not MBA, University of Maine; BA, Sangcheol Bank of China; BS, Renmin available), Assistant Professor, Shandong Normal University, Song, Assistant University of China Communication; Ph.D., China Professor, Pennsylvania State University; Management; MA, Illinois State University; BS, Ph.D., Ohio Pennsylvania State University State University; MBA, BA, Yonsei University, Seoul, Korea

BUSINESS 101 PROFESSOR INSPIRES BUDDING ENTREPRENEURS

David Greenan knows Bryant decided to pursue an MBA — where as Advisor of the Year 2008 for his University. He is an alumnus, class of else, but at Bryant. dedication. His most recent venture 1973, and after working for 25 years In five years, he finished his is as cohost of “Rubie and the Green in various management positions in degree — and when the capital Machine” on WJMF, Bryant’s student- retail, banking, and manufacturing, campaign was successfully completed, run radio station. The program’s Greenan returned to Bryant to seek Bryant offered Greenan another focus is on environmental initiatives alumni career counseling. What he opportunity: teaching. Today, he at the University. ended up with was a job. teaches in the Bryant Graduate School Overall, Greenan is thrilled to Greenan worked briefly as the of Business and is a full-time instructor be a part of the Bryant community, interim director of Bryant’s Executive of Business 101, a mandatory course and to have been so for such a long Development Center (previously that provides what Greenan refers to time and in so many different roles. the Center for Management as “an immersion in everything there “In the various positions I’ve held, I Development). Then he was hired is to know about business.” (See page always felt that my Bryant training as the director of development 16 for more about BUS 101.) served me very well,” he shares. “I operations and communications Not content to work with students love passing that tradition on to a for The Campaign for Bryant — It’s in the classroom alone, Greenan new generation of business people.” About Changing Lives, the first is the advisor to Students in Free comprehensive capital campaign in Enterprise (SIFE) and the Society Listen to “Rubie and the Green Machine” the school’s history. While working for Human Resource Management streaming live on Wednesday nights at on this new initiative, Greenan (SHRM), and garnered recognition www.wjmf887.com.

Bryant Spring 2009 23 Around And About

SPOTLIGHT ON: CAMPUS the University’s prestigious awards and notable events inspire a sense of pride throughout the Bryant community.

YOU NEVER KNOW WHO Rock and Roll Hall of Fame MIGHT DROP BY inductee wowed the audience The past several months have with her solo hits, as well as been packed with prominent Staples Singers favorites such visitors to campus. Here are just as “I’ll Take You There” and As part of the new Student Arts and Speaker Series Morgan Spurlock, the director of a few of the personalities that “Let’s Do It Again.” Super Size Me, spoke to students about his experiences as a filmmaker. came to educate and entertain Student organizations have the Bryant community: also been active in bringing Other speakers included MACHTLEY WINS BUSINESS Quartetto Gelato kicked big names to campus this year. Danny Smith, the Rhode Island– EXCELLENCE AWARD off the President’s Cultural The Student Arts and Speaker raised executive producer and The Providence Business News Series with music described as Series sponsored a presenta- writer of the hit Fox television (PBN) named President Ronald classical in intent and eclectic tion by filmmaker Morgan series “Family Guy,” who spoke K. Machtley the winner of by design. The group’s relaxed Spurlock. The director and about his journey to Hollywood, the 2008 Business Excellence stage presence and humor producer spoke to students and Tedi Bruschi of the New Award in the category of established an immediate about his experiences making England Patriots. Bruschi shared Business Leadership. Machtley, rapport with the Bryant the documentary Super Size his inspirational story of suc- who became Bryant’s seventh audience, who packed Janikies Me, which examined the health cess in the NFL and his recovery president in June 1996, was Theatre for the performance. effects of eating nothing from a stroke. singled out for his leadership in The Series continued in but McDonald’s food for a For a full list of upcoming transforming the school from February with soul and gospel month, as well as his television events, visit the Bryant Calendar a business college to a univer- legend Mavis Staples. The series 30 Days. at www.bryant.edu. sity comprising the College of Business and the College of Arts and Sciences. Improving Bryant’s fiscal health was among President Machtley’s notable accomplish- ments cited by PBN. Under his tenure, revenue has more than doubled with annual sur- pluses that are reinvested in educational programs, facilities, and scholarships. Machtley has also led Bryant to consistent rankings among the nation’s leading universities (see related story, right).

Quartetto Gelato kicked off this year’s President’s Cultural Series with a lively Mavis Staples performance in Janikies Auditorium.

24 Bryant Spring 2009

290318.P24-25.indd 24 3/6/09 4:49:20 PM ONE-YEAR MBA: program. This community of the top 20, moving up the list Princeton Review’s annual SHORT-TERM INVESTMENT, peers creates a culture of support one spot each year since 2006. book, Best 366 Colleges. Only LIFELONG RETURNS and becomes the foundation of In BusinessWeek’s annual about 15 percent of the Bryant’s two-year MBA program a professional network. polls, Bryant has also moved four-year colleges in America is a fulfilling challenge for part- Classes begin in the fall up the list. Notably, Bryant were chosen for inclusion. time graduate students. But for semester and applications are ranks 30th in BusinessWeek’s In the two-page profile about those who choose to take the accepted on a rolling basis. recruiter survey, rising by 67 Bryant, The Princeton Review fast-track to their degrees, Bryant Call 401-232-6230 or e-mail points from last year. The quotes extensively from Bryant has designed a full-time, one- [email protected]. survey queries corporate students. The University’s year MBA program. recruiters that student-centered The one-year MBA provides BRYANT AMONG BEST hire thousands of approach drew a foundation in leadership UNIVERSITIES business majors particular praise. and management with course Bryant continues to rise in about which This year also work that focuses on the func- the national rankings that programs turn out marked the second tional and strategic areas of busi- assess academic excellence the best graduates, year in a row ness. In addition, the program’s among U.S. colleges and and which schools that the Bryant business practicum is a team- universities. have the most Graduate School’s based experience where industry This year, Bryant earned the innovative curricula and MBA program has been executives serve as mentors no. 16 ranking among the effective career services. In included in Best 296 Business throughout the practicum and Best Universities — Master’s addition, the University moved Schools, also published by The beyond. (North) in the 2009 “America’s up five points to no. 59 in the Princeton Review. The editors Like those in the two-year MBA Best Colleges” issue of publication’s overall rankings. cite Bryant’s excellent facilities program, one-year students are U.S.News & World Report. It is Bryant was also included as well as the cohort and team members of a cohort, moving the fourth consecutive year the among the best U.S. institutions approach in its part-time MBA together through the entire University has been ranked in in the 2008 edition of The program, initiated in 2006.

Historic ArcHwAy Gets complete restorAtion

The Archway restoration project was made possible by the generosity of the Class of 2008, which raised nearly $31,000. Tradition dictates that to pass through the Archway before Commencement is bad luck.

Bryant Spring 2009 25 Around And About

SPOTLIGHT ON: CAMPUS BUSINESS PROGRAMS ARCHWAY FINANCIAL FORUM (CONTINUED) REACCREDITED, PRAISED On February 24, the Bryant Bryant’s undergraduate and community gathered for the MACHTLEY KEYNOTE SPEAKER graduate business programs annual Archway Financial AT BEIJING CONFERENCE remain among the world’s Forum. Sponsored by Fidelity In early December, Bryant presi- best, according to AACSB Investments and Strategis dent ronald K. Machtley had the International — The Association Financial Group, the event honor of serving as the keynote to Advance Collegiate Schools offered attendees a chance to speaker at the opening ceremony Bryant president Ronald K. Machtley of Business, which reaffirmed hear from Richard Fisher, presi- of the annual Confucius Institute Bryant’s AACSB accreditation dent of the Dallas Fed. conference in Beijing. In atten- 30 percent of faculty, 80 percent of earlier this month. As a voting member of dance were more than 2,000 senior administration, and 33 per- Less than 5 percent of the the Federal Open Market leaders from around the world, cent of board of trustees members world’s business schools Committee (FOMC) in 2008, including 200 presidents of insti- have traveled to China in support are accredited by AACSB Fisher witnessed what he calls tutions that host a Confucius of the University’s goals. International. The association “historic economic develop- Institute. “Only with the designation comprises more than 1,100 ments during a tumultuous “Each of us has our own of Bryant University as a educational institutions, busi- year.” He shared his experi- national interests, and our pasts Confucius Institute, and with nesses, and other organizations ences with the audience and are different, yet we are here the resulting resources from in 70 countries and is dedicated offered his view of the future today — bound by a common this partnership, have we been to advancing business educa- economic climate. interest — to understand China able to more fully implement tion worldwide. Bryant has The Archway Financial through its language and its cul- a China strategy across the maintained its AACSB designa- Forum is a yearly event that ture,” he said after greeting the whole University and into our tion since it was first accredited includes panel discussions and crowd in Chinese. surrounding communities and in 1994. a keynote address as a way to Machtley emphasized the sup- businesses,” he said. To maintain accreditation, the inform students in the Archway port of the Confucius Institute in Bryant was recognized with the College of Business must meet Investment Fund (AIF) pro- developing world-class educa- official designation of a Confucius specific AACSB standards of gram. Established in 2005, the tional opportunities for Bryant Institute in 2006 and is one of 52 excellence. A team of business AIF allows students to use students. More than 300 students centers around the country dedi- school deans visited the Bryant their classroom knowledge have studied in China since the cated to the promotion of Chinese campus in early November to research and buy stocks with Institute’s founding in 2005, while language and culture. to evaluate the programs as money given by the Bryant they relate to the University’s Board of Trustees. uS-CHInA InStItutE CELEbrAtES nEW YEAr mission, strategic manage- ment of resources, interac- tions of faculty and students in the educational process, and achievement of learning goals in degree programs. AACSB International commended Bryant for the University’s continued efforts to create an innovative and stimulating educational experi- ence for undergraduate and graduate students. The evalua- tors were particularly impressed In early February, the U.S.-China Institute at Bryant commemorated 30 by Bryant’s culture of academic years of diplomacy between the U.S. and China and celebrated the Lunar program assessment, engage- New Year with a special American performance debut by Chinese Art ment, and educational programs Troupe (affiliated with the Renmin University of China). that respond to the needs of the marketplace. Richard Fisher

26 Bryant Spring 2009

290318.P.indd 26 3/6/09 5:43:39 PM WOMEN’S SUMMITTM 2009: CHAMPIONS IN A CHANGING ENVIRONMENT On March 12, Bryant University welcomed more than 900 women and men for a pre- sentation of “Champions in a Changing Environment” at the 12th Annual Women’s Summit. The event featured esteemed keynote speakers and 19 power- ful workshops. The day began with passion- ate keynote speaker Mireille Guiliano, a groundbreaking entrepreneur and internationally respected marketing innovator Mireille Guiliano Jean Chatzky Dominique Dawes who served as president and CEO of the wine and cham- pagne company Clicquot, Inc. of the Year Award. This year’s to navigate through the myriad To the delight of the audience, award was given to Cheryl financial responsibilities we Bryant is grateful for the 2009 Guiliano gave advice and shared Watkins Snead, president/CEO all face. Women’s Summit sponsors anecdotes to inspire women in of Banneker Industries and a The final keynote speaker of and supporters, including: the business community. Bryant trustee. the day, Dominique Dawes, After the morning breakout The luncheon ended with inspired attendees with her Platinum Sponsor sessions, everyone gathered an address by award-winning unique experiences as the first Amica for a luncheon and the pre- journalist and author Jean African American to compete as sentation of the 2009 Bryant Chatzky. In her speech, Chatzky a member of the U.S. Olympic Gold Sponsors University Women’s Summit shared her insights on the cur- gymnastics team. Today, Dawes Fidelity Investments and GTECH New England Businesswoman rent economic climate and how is a coach, entrepreneur, inter- national sports commenta- Silver Sponsors tor, and actress, as well as an Amgen; BankRI; CVS/Caremark; advocate for health issues and FM Global; Hinckley; Allen & equality for women. She also Snyder LLP; IKON; Navigant Credit discussed her tireless efforts to Union; PricewaterhouseCoopers; inspire high self-esteem in girls and Sensata and women alike as spokesper- son for The Girl Scouts/Unilever Silver Supporter Self-Esteem Program and the Underwriting provided by Dove Campaign for Real Beauty. Citizens Bank Foundation The Summit closed with a networking reception Bronze Sponsors where attendees connected, Lefkowitz, Garfinkel, Champi & relaxed, and discussed the DeRienzo P.C.; Liberty Mutual; many ways they were inspired National Grid; Right Management; and empowered throughout Sperian; and Target the day. To join the Women’s Media Sponsor Summit mailing list, visit Providence Business News www.bryant.edu/wsummit. Kati Machtley, director, Women’s Summit

Bryant Spring 2009 27 Around And About

SPOTLIGhT ON: CLAss trAveLs to tHe InAuGurAtIon STUDENTS Bryant students are hungry for knowledge, and they take every chance to explore co-curricular opportunities that will help them succeed in life and in their chosen profession.

ANOTHER BEST-CHAPTER rise for Bryant’s CEO chapter, WIN FOR CEO which has grown from eight Winning is becoming a habit for members in 2005 to 150 mem- Bryant’s chapter of the Collegiate bers today. Entrepreneurs’ Organization Among its many activities, (CEO). At the CEO National CEO is involved in community Conference in Chicago, the service, participating in Pumpkin group took home Best Overall Fest to raise money for Camp It was a once-in-a-lifetime experience for 15 Bryant students who traveled Chapter honors for the second Sunshine, a retreat in Maine for to Washington, D.C., for the inauguration of President Barack Obama. The year in a row. In addition, Lauren children with life-threatening trip was scheduled as part of a special topics course taught by Richard Amarante ’11 (Meriden, Conn.) illnesses. The group also part- Holtzman, assistant professor of political science. won the Student Leader of the ners with Bryant’s Global Year award and John botte ’11 Entrepreneurship Program and (Smithtown, N.Y.) was honored Business 101 classes to hold an for designing the best CEO chap- elevator pitch competition each ter Web site. semester. One of the organiza- TEACHING HIGH SCHOOLERS and ethics, and to explore the Despite being one of the tion’s newest ventures is the ABOUT CAPITAL MARKETS differences between various smaller schools participating, student-run nonprofit organiza- Now more than ever there is a countries’ capital markets and Bryant boasted one of the larg- tion CEO Consulting. And, last need to become educated on markets in the United States. est contingents at the confer- summer, Bryant’s CEO led a trip the impact of global markets. In the end, students pick the ence with 63 students taking to China for 10 students during Myoung Gon (Charlie) ryu ’12 country they think is best for part. It has been a meteoric the Beijing Olympics. (Pohang, South Korea) believes investing. that he can help people under- Results of the project will be stand this system as early as judged by representatives from high school. SIFE and Goldman Sachs. The Ryu is among a select group top five teams will present their of 45 students nationwide ideas to financial analysts from taking part in the Students around the world at a Capital in Free Enterprise (SIFE) Markets Summit to be held in Capital Markets Program July in New York City. The final sponsored by the Goldman competition will include the Sachs Foundation. As part of winners from the United States, the program, Ryu created and as well as China and France, implemented a lesson plan where identical competitions to teach high school students are being held. about capital markets. The cur- riculum challenges students to Lauren Amarante ’11, National CEO Student Leader of the Year award winner study global business customs

28 Bryant Spring 2009 SOCIAL ENTREPRENEUR SPREADS HIS LOVE OF READING

Kyle Baldwin ’12 grew up “It’s a great way to spread your Baldwin credits Bryant with surrounded by books and passion.” giving him the tools he needs to developed an insatiable love Among their distribution events, effectively run his organization. of reading. When a high school last fall My Own Book hosted “I’ll be sitting in class and we will project made him aware that “Sharing the Joy of Reading Coast be discussing a case study, and thousands of children are brought to Coast.” Representatives from I can relate it to My Own Book,” up with empty bookshelves, he Providence, R.I., to Fairfield, Calif., he says. Enhancing his Web site was compelled to act. (Baldwin’s hometown) read and and developing a cohesive plan to In the spring of 2006 Baldwin distributed new books to children present to publishers and donors started My Own Book with his as part of the national Day of Action, are two improvements that Baldwin younger brother, Brady. The the first initiative to come out of the attributes to what he’s learned nonprofit organization brings ServiceNation Summit. Baldwin and at Bryant. And outside of class, new books to underprivileged his brother attended the Summit Baldwin’s cocurricular involvement children across the country. Since in New York City last year along has helped him gain more optimism its launch, Baldwin’s company with more than 600 business and and confidence. “The more I have has donated 15,000 books and community leaders of all ages and been exposed to at Bryant, the attracted national attention. sectors. Kyle and Brady were two more I’ve been inspired to develop “Running a nonprofit of the youngest leaders to attend the program,” he says. organization is a great opportunity the event, which also welcomed to help others while gaining presidential candidates and U.S. practical experience,” Baldwin says. senators John McCain and Visit www.myownbook.net to learn how Barack Obama. you can support this social venture.

ACTUARIAL MATH STUDENTS judges on location in Hartford, “AMERICA’S GLOBAL COLLEGE (VOA), a multimedia inter- EXCEL IN NATIONAL Conn., and via teleconference FORUM” ON VOICE OF AMERICA national broadcasting service COMPETITION to judges at Travelers’ St. Paul, Bryant students represent 45 funded by the U.S. government Last semester, four Bryant Minn. offices. countries across the globe. through the Broadcasting students arrived at Travelers Bryant came away with a Two international students, Board of Governors. Insurance corporate headquar- third-place finish based on Gergely “Nemo” Nemeth ’09 of The VOA broadcasts approxi- ters not sure what to expect, depth of research, understand- Hungary and Deidre Fraser ’09 mately 1,500 hours of news but ready for anything. Thomas ing of the problem, creativity of Jamaica, were chosen programming every week to an D’Onofrio ’10 (Ellington, Conn.), of the recommendations, and to share their experiences estimated worldwide audience Sarah Linszner ’09 (Billerica, quality of the presentation. studying in the United States of 134 million people. For Mass.), David Loehr ’10 (North Even more impressive was on “America’s Global College a link to the podcast profiles, Kingstown, R.I.), and Lauren that Bryant’s team of four Forum.” The audio newscast visit the Bryant newsroom at Prue ’10 (Griswold, Conn.) competed against teams of six aired on Voice of America blogs.bryant.edu/newsroom. made up one of seven from other schools. teams competing in the first Jim Bishop, a professor of national Actuarial Case mathematics who accompa- Competition. nied the team to Hartford, says After three hours of research the competition was a good on an environmental issue opportunity to see theory in that affects homeowners action. “It was great practical insurance (a topic received at experience for the students the competition), the team to analyze risk and price it in presented their findings to the real world,” he says. Deidre Fraser ’09 Gergely “Nemo” Nemeth ’09

Bryant Spring 2009 29

290318.P.indd 29 3/6/09 5:44:19 PM Around And About

work information, add a class your alumni profile, search for SpOTLIGhT On: note or picture, and upload classmates, and more. (Step-by- your resume. Bryant’s online step instructions are available at directory provides access to 40,000 www.bryant.edu/alumni.) ALUMnI alumni living around the globe. Another way you can make Only alumni are allowed to see connections with fellow With more than 40,000 graduates in their ranks world- the information — and you alumni is wide, Bryant alumni have access to an expansive choose exactly what can be viewed. through and supportive network of professionals. Whether it’s Contact [email protected] Bryant’s for your identification number, LinkedIn network. Search at a Division i basketball game, a leadership event for or, if you are a recent graduate, for the Bryant University donors and volunteers, or on Facebook and Linkedin, use your Banner ID number. Alumni Association Group alumni are making connections that lead to renewed You can then create a direct link on LinkedIn.com to join. between the online directory and More and more alumni are friendships and professional opportunities. Facebook connecting online and through by adding Bryant’s regional alumni net- the Bryant work events: participation in STAY CONNECTED ONLINE in touch with your peers easier University Alumni Connections both LinkedIn and Facebook One of the unique benefits of and more effective than ever. application to your Facebook has grown by 100 percent in holding a degree from Bryant is To get started, enroll in profile. Through the Alumni the last three months. Get the full power of the alumni net- the University’s secure alumni Connections “app” you can started today to check in with work. The advent of social net- online directory where you find upcoming Bryant events in former classmates and develop working Web sites makes staying can update your home and your area, change and update new professional relationships.

MIKE dIonnE ’74 FIndS HIS CALLInG SErvInG tHE CoMMunIty

Changing careers after 25 years isn’t Based on the premise that home-like atmosphere in an urban exactly commonplace, but Mike “Rhode Island’s children are area to support court-ordered and dionne ’74 had been feeling the everyone’s business,” the Dionnes agency-mandated family visits pull of what he considered his “true created the Nina Foundation, a that provides a more comfortable calling” for years. nonprofit organization named after environment than previous facilities. In 1999, Dionne had a successful Mary’s recently deceased mother “This building, Nina’s House, will career as a senior vice president at that is dedicated to charitable work also offer internships for sociology, a Silicon Valley software company on behalf of children. early childhood development, when his wife, Mary, became ill. “My mother-in-law, Olga “Nina” nursing, language arts, and public Wanting to be closer to both of their Sullivan Bertuglio, had more service students,” says Dionne. “Our families and to the excellent health than 50 grandchildren and great- goal is to have a facility in each of care in New England, the couple grandchildren,” says Dionne, who R.I.’s four regions in which there is a packed up and went back east. serves as executive director of the Department of Children, Youth, and “My wife and I were very grateful Nina Foundation. “What made her Families office.” for the success we had enjoyed exceptional was that she enjoyed Becoming a social entrepreneur throughout our careers,” says a special relationship with each is gratifying, says Dionne. “When Dionne. “Once we were settled in and every one of them. The Nina you start an enterprise with your our new home, we decided the Foundation is her legacy.” passion, your reward is contributing time was right to think about how Dionne worked with Bryant to its operation.” we could give back on an ongoing associate professor of sociology basis.” Sandra Enos to identify a specific area of need for R.I.’s families: a

30 Bryant Spring 2009

290318.P.indd 30 3/6/09 9:09:51 PM MICHAEL FISHER ’67 NAMED Investment Fund Advisory BOARD CHAIR Board. A charter member of the WHAT’S NEWS AT YOUR ALMA MATER After three years as chair of President’s Leadership Council, the Bryant Board of Trustees, he also served on the Campaign Thomas Taylor ’63, ’98H has Steering Committee for The passed the torch to Michael Campaign for Bryant: It’s About Fisher ’67, managing direc- Changing Lives, the first compre- tor (retired) of Barclays Global hensive capital campaign in Investors (BGI). Fisher, who the school’s history. Fisher resides in Arizona, began his rejoined the Bryant Board of career in investment manage- Trustees in 2006. ment more than 40 years ago at Pacific Mutual (PM) and ALUMNI LEADERSHIP subsequently held various man- WEEKEND, APRIL 17–18 agement positions in Pacific Each spring, alumni return to Equity Sales, Pacific Investment campus for networking and Management, and PM Life-New professional development at York. He served in various man- Bryant’s Alumni Leadership agement roles at Chase Investors Weekend. Last year’s event Management Corporation, brought more than 100 alumni Bankers Trust Company, The together for a weekend of reunit- Equitable, and Strong Capital ing, networking, socializing, Management. and education. Save the date In 1998, he started at BGI, one for this year’s event, which will of the world’s largest asset man- take place April 17–18, 2009. Are you interested in keeping up with the latest and greatest news agers and a leading provider of On Friday evening, April from Bryant? The University’s online newsroom is the place to be. investment management prod- 17, the Alumni Achievement Blog posts, press releases, links to Bryant news in the national media, an ucts and services for more than Awards dinner and ceremony Experts Directory featuring faculty members, and event announcements 2,600 clients. will celebrate the accomplish- are just a few of the things you’ll find at blogs.bryant.edu/newsroom. Fisher formerly served on the ments of several Bryant gradu- The site also features access to the University’s real simple syndication Bryant College Board of Trustees ates with the presentation (RSS) news feed. By registering for RSS, posts to the Bryant newsroom from 1992-2001. Currently, he of the Alumni Achievement will automatically be “fed” to your e-mail inbox, keeping you fully abreast is a member of Bryant’s National Awards. The annual presenta- of the happenings and goings on of your alma mater. Future feeds will Council on Philanthropy tion honors alumni for their include podcasts and videocasts. and serves on the Archway outstanding contributions to their profession, community, and to Bryant University. It also recognizes a current faculty member for his or her profes- sional accomplishments and What You Don’t Know: How At press time, the Office of positive influence on students. Great Leaders Prevent Problems Alumni Relations and the On Saturday, April 18, before They Happen (see pg. 22). National Alumni Council are participants will discover proven Roberto interviewed several still finalizing event speakers leadership strategies and learn Bryant alumni for the book, and the agenda. To learn more about specific opportunities to and Kevin Walsh ’86, David about the Alumni Leadership engage with Bryant students Tacelli ’81, Peni Garber ’85, Weekend, or to register, visit and help strengthen alumni Larry Hayward ’79 MBA, www.bryant.edu/alumnievents. networks. Trustee Professor of and Mario Shiliashki ’96 are You can also call the Office Management Mike Roberto included in the final copy of Alumni Relations at is back by popular demand and describing their successes (877) 353-5667 or e-mail Michael Fisher ’67 will discuss his latest book, Know and challenges. [email protected].

Bryant Spring 2009 31

290318.P.indd 31 3/6/09 5:44:39 PM Class Notes

Class notes is a great place to share news about STEPHEN R. MORRIS of orchard JAMES S. MILLER ’91 MBA of Park, N.Y., was named executive Pascagoula, Miss., completed a professional and educational accomplishments and vice president of operations at master of arts degree in national other special events in your life. Keep Bryant University Koike aronson, Inc., in arcade, security and strategic studies at the N.Y. U.s. Naval War College, College of informed of your latest endeavors by submitting Distance education in Newport, R.I. 1978 information online through the Class notes page at RICHARD R. ROY ’78 MBA of 1982 www.bryant.edu/alumni. you can also send an e-mail to North Kingstown, RICHARD G. CARRIERE ’87 MST R.I., was named of North smithfield, R.I., was [email protected] or call (877) 353-5667. senior vice promoted to first vice president- president corporate wealth management financial controller/ planning specialist at smith Barney 1937 1971 treasurer of Gilbane in Providence, R.I. STANLEY J. DRAKE, Ph.D., of WILLIAM D. GRUCCIO of Building Company in Providence, Burgaw, N.C., received an honorary Doylestown, Pa., was promoted to R.I. Richard is a member of STEPHEN J. ENOS of Riverside, doctorate from Bryant College in senior vice president of the career the Construction Financial R.I., was named chief of police 1963, as well as five other honorary agency system at Penn Mutual life Management association, the for the town of Rehoboth Police doctorates from other institutions. Insurance Company in Horsham, Financial executives Institute, and Department in Rehoboth, Mass. stanley, who is 93 years old, would Pa. William will refine and focus the the aGC tax and Fiscal affairs like his many Bryant friends to strategic development and growth Committee. GREGORY PORCARO ’87 MST know he is still very active as the of the division. of Cranston, R.I., founder and President emeritus of 1979 was selected as one International society of Friendship 1974 It’s your class reunion in 2009! of the top 50 IRs and Good Will with members in It’s your class reunion in 2009! Visit www.bryant.edu/alumni practitioners in the 182 countries. Visit www.bryant.edu/alumni country. Greg has ROBERT H. WISCHNOWSKY been the principal in 1966 WILLIAM S. NIEMAN of Dover, of Coventry, R.I., was named charge of all tax, business valuation, ANTHONY E. FASSELL of N.J., was inducted into the New executive vice president for and business consulting services Greenfield, Mass., received a Jersey Coaches Hall of Fame. operations and technology and for otrando, Porcaro & associates, master of education with a major chief information officer at Bank ltd., a full-service accounting and in elementary education, levels PAMELA (QUINLAN) WILKINSON Rhode Island in Providence. Robert consulting firm located in Warwick, 1-6 from Cambridge College in of Warwick, R.I., accepted a will oversee operations, technology, R.I. Greg has written extensively springfield, Mass. position in the office of teaching and risk management functions. on taxes in professional periodicals and learning at New england such as the Journal of Accountancy 1969 Institute of technology in Warwick. 1980 and The Tax Adviser. Greg lectures It’s your class reunion in 2009! ROBERT A. SKURKA ’80 MBA of on a variety of tax and business Visit www.bryant.edu/alumni 1976 seekonk, Mass., was named vice valuation issues for state and DENNIS J. NELSON of Cranston, president of commercial lending national accounting associations. He EDWARD B. GOMEAU of old R.I., was promoted to vice president for Bristol County savings Bank in is a past president of the R.I. society saybrook, Conn., was named of claims at NlC Insurance Pawtucket, R.I. Robert will serve of CPas, the past chair of the business manager for the town Companies in Norwich, Conn. the banking and financing needs aICPa’s s Corporation technical of North Haven Public schools in of businesses in Rhode Island and Resource Panel, and a member of North Haven, Conn. RUTH (FRANCIS) SERVANT of southeastern Massachusetts. its tax executive Committee. He West Warwick, R.I., owns an received the designation accredited 1970 internet travel business, www. 1981 in Business Valuation from the THOMAS CIABURRI JR. of el Paso, ruthservanttravel.com, which COLONEL DONALD A. AHERN, american Institue of Certified texas, was inducted into the el serves all travel needs. USAF of Fort Washington, Public accounts. Greg is a part-time Paso Baseball Hall of Fame Media Md., completed a fellowship lecturer in the Master of taxation Category. In 2006 tom was also 1977 in international relations at Program at Bryant University. inducted as a media member in the ALBERT MARCELLA, Ph.D., of the Massachusetts Institute of el Paso athletic Hall of Fame. Ballwin, Mo., president of Business technology. 1983 automation Consultants llC, had ROBERT F. ROY JR. of arlington, WILLIAM A. PERRY of surprise, his 27th book published. Cyber JOSEPH L. CHIODO ’87 MBA of Va., deputy vice president of the ariz., opened an office, B.P. Global Forensics II: A Field Manual for smithfield, R.I., was named finance export-Import Bank of the United enterprises, in surprise. Bill is the Collecting, Examining and Preserving director for the town of Johnston, states transportation Division, owner and managing director Evidence of Computer Crimes, second R.I. received the bank’s highest of this international training edition was released by taylor & honor, the Chairman’s award, organization that specializes in Francis Group. for long-term excellence and workforce training, federal and professionalism. state grantwriting, and technology development.

32 Bryant Spring 2009 save the date! October 2-4, 2009

Reunion @ Homecoming

290318.P.indd 33 3/11/09 5:02:09 PM Class Notes

1984 1985 1989 CHRISTOPHER M. CRAIG of It’s your class reunion in 2009! MONTE KOSOFF of Port st. It’s your class reunion in 2009! attleboro, Mass., Visit www.bryant.edu/alumni lucie, Fla., was Visit www.bryant.edu/alumni was named sales named senior manager for PAULA A. (MATTERO) AIELLO vice president of DARLENE L. JACHYM of Berwick, northern Rhode of shrewsbury, Mass., was elected the business Maine, is the founder and president Island at Citizens to the board of directors at CNB banking division at of at Your service, an estate and Bank in Providence, Financial Corporation in Worcester, seacoast National household staffing agency in R.I. Chris is a member of the Mass. Paula is chief financial officer, Bank in stuart, Fla. Maine. National association of Home vice president of administration for Builders, the Northern Rhode Youth opportunities Upheld, Inc. of DENISE M. LOVETT of York, BRIAN D. SCHOLTEN of Island Board of Realtors, and the Worcester. Paula is also a member Maine, was appointed director of leominster, Mass., was named Northern Rhode Island Chamber of of the Massachusetts society of accounting and finance at Northern registrar at Ithaca College in Ithaca, Commerce. Certified Public accountants, the essex Community College in N.Y. Brian will be responsible for american Institute of Certified Haverhill, Mass. the administration of all academic SHANNON K. DUNNIGAN Public acccounts, and the Central records for current and former ’97 MBA of Newport, R.I., was Massachusetts Financial executives VICTORIA R. WATERMAN of students. named one of the “20 Under 40” organization. North smithfield, by Presstime Magazine, which R.I., was named 1990 recognized for her innovative ANDREW G. ANDREWS of avon, president ANDREW FREEMAN of work, leadership, and vision Conn., was elected managing of leading Williston, Vt., co-founded the in the newspaper business. partner and chief executive officer Women Central FindandGoseek.net Web site, shannon is director of online of Whittlesey & Hadley, P.C., Massachusetts. which was awarded outstanding revenue at GateHouse Media Inc., in Hartford, Conn. Drew will be Victoria will bring leadership achievement in Website headquartered in Fairport, N.Y. responsible for overseeing strategic development content, experiences, Development by the Interactive planning, growth, and succession and resources to professional Media awards. JENNIFER MANNILA of of the firm and will manage firm women and to organizations Charlestown, Mass., was appointed administration, personnel, and committed to the retention and DANIEL S. KAHN of Monroe, N.Y., vice president and relationship practice development. advancement of women. joined lenox advisors in New manager in the northeast region at York as an associate. Daniel will RBs Business Capital, a division of CYNTHIA (PAUL) CODY of JOHN J. WHITING of North be focusing on financial, estate, Citizens Financial Group in Boston. Fairfield, Conn., was named attleboro, Mass., was named chief and retirement planning; risk senior vice president of corporate of police for the town of North management and insurance; and 1994 services for octagon, a sports and Providence, R.I. corporate benefits consulting. It’s your class reunion in 2009! entertainment marketing agency in Visit www.bryant.edu/alumni Norwalk, Conn. 1986 STEVEN P. NALDI of Bloomington, CHARLES F. HAHN ’90 MST of Ind., accepted the position of MICHAEL TUTKO of Concord, JAMES M. MANNI ’84 MBA of Falmouth, Maine, was named director of U.s. operations at N.H., was named vice president Wakefield, R.I., was awarded the managing principal at Baker Biostorage technologies in of commercial lending at laconia rank of lieutenant for the Rhode Newman Noyes in Portland, Indianapolis, Ind. savings Bank in Concord. Mike will Island state Police. lieutenant Maine. be responsible for the Concord and Manni has served at all barracks as 1992 Dover markets. a member of the Uniform Bureau, GARY R. PALIN ’86 MBA of GINA M. (CALISE) SAHAGIAN of to the Rhode Island state Police Raleigh, N.C., was saunderstown, R.I., 1995 training academy, executive named executive was named client MARK LANGLAIS of santa Cruz, security Unit and as the Division’s director of the consultant at Park Calif., was named director of Range officer and tactical team Doherty Center for Row associates in finance for la Valencia Hotel in la Commander. He is currently entrepreneurial Providence, R.I. Jolla and Rancho Valencia Resort & assigned to the Wickford Barracks. leadership, spa in Rancho santa Fe, Calif. and he is a senior lecturer in ROY F. VAN BUREN of Reading, entrepreneurship at the Martha and 1993 PAUL J. PEZZA of West Warwick, Mass., completed the Vermont 100 spencer love school of Business at MICHAEL ANDERSON of R.I., was admitted to the mile endurance run and placed elon University in elon, N.C. Cranston, R.I., was promoted Massachusetts Bar in December of 52nd out of 266 competitors. Roy to senior information security 2008. also completed the angeles Crest JON PILKINGTON of architect/officer for RBs/Citizens 100 mile endurance run along the Westborough, Mass. was named N.a. in Cranston. SCOTT G. TERRIEN of Pacific Coast trail in los angeles. a finalist for the Massachusetts Cumberland, R.I., technology leadership Council was named vice CXo of the Year award. Jon president of retail is currently the vice president banking at the of marketing at Metatomix in Cooperative Bank in Dedham, Mass. Roslindale, Mass.

34 Bryant Spring 2009

290318.P.indd 34 3/11/09 5:02:23 PM 1996 JONATHAN M. GAUDIOSO ’06 2002 PAULO P. COUTO of Central DONALD D. HUBERT JR. ’96 MST MBA of Lincoln, R.I., was promoted SAMANTHA (APPLETON) Falls, R.I., returned to the United of Brooklyn, Conn., was named to director of finance reporting at WALTON of Merrimack, N.H., States after completing more than director of corporate tax at A.T. Textron Financial Corporation in was named director of marketing two years of service in the Peace Cross Company in Lincoln, R.I. Providence, R.I. and public relations at Intown Corps. Paulo served in the Ku Kaeo Manchester in Manchester, N.H. District in the Udon Thani Province 1997 DAMIAN J. TURCO of Palm Beach of Thailand as a community-based ROBERT S. CLARK of West Gardens, Fla., opened a law office MARK V. BRODEUR of Cranston, organizational development Hartford, Conn., under his name in Palm Beach R.I., was promoted to regional volunteer. Paulo’s primary work was named Gardens and practices family law, controller of the Procaccianti involved helping local stores create co-manager in the estate planning, probate, and real Group located in Cranston. Mark more efficient accounting systems. core/value equity estate law. is responsible for a portfolio of He also worked with Habitat for investing team at eight full-service hotels across the Humanity Thailand, building Turner Investment 2000 country. houses and translating. Management in Hartford. DAVID GRECO of North Haven, Conn., was named director of the ANTHONY T. GUGLIOTTA of AMY L. HANSON of Millville, DAVID W. JOLIN ’97 MBA of worksite division for the Health Walpole, Mass., joined WCAX- Mass., accepted the position of Rehoboth, Mass., Consultants Group in Plainville, TV in Burlington, Vt., as a sports corporate sales associate at the was named vice Conn. reporter for the Channel 3 news. Executive Development Center at president at Gilbane Bryant University in Smithfield, R.I. Building Company GEOFFREY JAROK of Lowell, GREGORY SMITH of San Diego, in Providence, Mass., was selected along with 13 Calif., is owner and president of 2005 R.I. David serves other CPAs from across the country Xgineer Solutions, Inc. in San GREGORY DEMOS ’05 MBA of as regional controller in the New to work with Operation Hope in Diego. Narragansett, R.I., was named vice England region leading the financial Metairie and Houma, Louisana. president of sales at Veritude in operations including safeguarding Geoff and the group sat with local 2003 Boston, Mass. the company assets, risk business owners at one-on-one DANIEL P. O’BRIEN of management, financial reporting/ sessions to provide free accounting, Farmington, Conn., opened 2008 budgeting/forecasting, internal tax, and business consulting. Uberdog, a unique dog playcare STEPHEN J. TURNBLOM of controls, and administration. and hotel in West Hartford, Conn. Quincy, Mass., was named national KERRI-BETH ST. JACQUES of account executive at Humboldt 1998 West Warwick, R.I., was promoted 2004 Storage and Moving Company in MATTHEW J. SLOSEK of New to marketing manager at Fidelity It’s your class reunion in 2009! Canton, Mass. York, N.Y., was named regional Investments in Smithfield, R.I. Visit www.bryant.edu/alumni manager of New York for Bacardi SHAWN R. THEROUX of Atlanta, USA Ltd., in Hackensack, N.J. 2001 THOMAS W. BRUSSARD ’04 MBA Ga., was named inside sales RANDY ROSSI of Johnston, R.I., of North Easton, Mass., was named representative for Atlanta Spirit 1999 was named finance director of the manager of financial planning and LLC in Atlanta. It’s your class reunion in 2009! Town of Smithfield, R.I. analysis at Papa Gino’s Holdings Visit www.bryant.edu/alumni Corporation in Dedham, Mass. HILARIE B. RUBIN of Attleboro, Tom will provide timely and MELISSA R. FRANK of Franklin, Mass., was named valuable business analysis and Mass., was named marketing field market- manage the monthly forecasting manager at AT&T Mobility in development process. Framingham, Mass. Melissa is representative at responsible for sponsorships, Own Thermoplastic the Neighborhood and community Elastomer in events, store events, and the radio Pawtucket, R.I. Hilarie will DJ program in the New England prospect, evaluate, and coordinate market. new business in the industrial- market segment.

ONLINE ALUMNI DIRECTORY

Free to all 40,000 Bryant alumni, the online directory is easy to use and available via the Bryant Web site at www.bryant.edu/alumni (just click on My Alumni Page). Find classmates or alumni living in your area or use the keyword search for contacts in particular companies or industries. Sign up today to renew old friendships and network with your peers.

Bryant Spring 2009 35

290318.P.indd 35 3/11/09 5:02:36 PM Inr MeMo IaM

Participate in the Bryant University Annual Fund Trustee Challenge gives your gift twice the impact BEatriCE (tanDy) EDWarD t. FUry ’48 DOnaLD p. JOHn F. LynCH ’72 JEan (grangEr) KELLy (HOgan) SiMpSOn ’30 August 11, 2008 LaMOUrEUX ’53 September 14, 2008 aDaMS ’76 KirBy ’83 October 14, 2008 June 27, 2008 October 3, 2008 August 3, 2008 rOBErt F. KEnnEtH J. FarLEy ’73 CHarLES S. MOntaQUiLa ’48 ELEanOra August 15, 2007 rOnaLD a. CiESLUK MarCia (MiLLEr) SaLManSOn ’33 April 28, 2008 (BaKanaS) OHr ’53 ’78 ’80 MBa pEttigrEW ’83 July 7, 2008 July 2, 2008 JEan (arnESEn) September 9, 2008 July 12, 2008 nina (KOrEnUK) JOnES ’73 WanDa (SaDOWSKi) ryDEr ’48 ann (LingHaM) April 29, 2008 LESLiE (SpragUE) DaViD LinDSay ’85 “ If ever there was a time to participate in Bryant’s COrniLOViCH ’35 March 9, 2008 BaKEr ’54 rOBinSOn ’79 MBa July 22, 2008 June 5, 2008 antHOny S. Magina September 9, 2008 August 29, 2008 annual fund, NOW is the time. irVing i. SCHniDEr ’48 Jr. ’73 MBa Bryant’s Board of Trustees has stepped forward HELEn (SWEEt) September 19, 2008 JOSEpH a. MOrrOnE ’54 August 6, 2008 patriCia CUrtiS W. FranDSEn HaMMOnD ’35 June 25, 2008 (BOttiCELLO) Van ’86 MBa to issue this challenge to all alumni, parents, November 3, 2006 CHarLOttE DaViD C. MUrnanE ’73 taSEL ’79 August 17, 2008 There’s a very identifiable need in the student (LOWnEy) tOMaS ’48 COnStanCE (CrOOKS) September 18, 2008 September 22, 2008 EVa (gOODMan) December 22, 2007 SaWyEr ’54 rOBErt g. rEEtZ iii ’86 and friends of the University: Make your gift population. We want to lend support – where tHaCHEr ’35 July 10, 2008 ELainE (BaLDyga) arManDO a. May 13, 2008 March 11, 2008 MargarEt rEiDy ’73 FErrUCCi ’80 MBa (LOnErgan) KEnnEtH a. aDLEr ’56 August 12, 2008 September 28, 2008 paUL W. Martin ’87 it’s justified – to students that face having to E. Virginia (HarpEr) BaLDWin ’49 August 21, 2008 March 26, 2008 before June 30 and each and every new gift, and CHEEtHaM ’36 October 14, 2008 nOrMan a. DEniSE (CHaBOt) exit the campus for March 21, 2008 CarOLyn (SHEEHan) OLiVEira ’75 Egan ’81 DaViD M. every increased gift, will be matched by members FranK B. FrEED ’49 BranD ’56 May 29, 2008 July 25, 2008 gOLEBiEWSKi ’90 MBa ViOLEt (graSS) April 19, 2008 July 10, 2008 August 11, 2008 financial reasons.” SanDHOLM ’37 CHEStEr H. riCH ’75 StEVEn t. of the Board, up to $100,000. September 28, 2008 JOHn J. gagEL ’49 JOSEpH V. SaLZiLLO ’57 August 21, 2007 JOHnStOn ’81 MattHEW October 8, 2008 May 9, 2008 October 26, 2008 CHriStian ’05 MariaM L. COLLinS ’38 January 31, 2009 April 27, 2008 JOHn B. MCEnEry ’49 rOBErt F. paUL J. BErLO ’83 August 16, 2008 prOnOVOSt ’58 June 26, 2008 Gifts to the Bryant Annual Fund help the University offer an HELEn (gray) May 28, 2008 JarDinE ’39 JaMES M. extra ordinary education to our students, providing vital financial October 27, 2007 O’LaUgHLin ’49 JaMES r. BrEnnan ’59 July 29, 2008 September 10, 2008 KatHLEEn (O’nEiL) assistance to those who might not otherwise have the opportunity gOODWin ’40 JOSEpH pELKEy ’49 KatHLEEn September 26, 2008 September 18, 2008 (MCCOrMiCK) to attend Bryant, or who may not be able to continue their studies. Michael Fisher ’67 pFiStEr ’60 Faculty MeMorial rOBErt S. MCCaig ’40 Myrna (SiMMOnS) July 18, 2008 Every gift is important. Chairman of the Board July 1, 2008 rESniCK ’49 MarSHa pripStEin pOSUSnEy, professor of political science at May 4, 2008 MaJOriE E. BiBBy ’61 Bryant, died on august 22, 2008, at the age of 55. She was a scholar paUL B. pLUMB ’40 April 27, 2008 November 3, 2008 patriCia (DEyOUng) of Middle East studies, labor unions, and women’s rights and rOBBinS ’50 LEO r. MCDEVitt ’61 served as an adjunct professor at the Watson institute for In addition to financial aid, your gifts make it possible for students to priSCiLLa (BEaUDEt) July 5, 2008 March 27, 2008 international Studies at Brown University. among the many books SErVant ’40 participate in organizations and activities, and innovative programs September 17, 2008 EDWarD F. COyLE ’51 LEStEr p. SLatEr she authored and co-authored, Labor and the State in Egypt: Workers, Unions, and September 25, 2008 Jr. ’61 Economic Restructuring won the prestigious albert Hourani Book award for out- including the Sophomore International Experience. Your support of MiriaM (MaKi) June 28, 2008 BanKa ’41 SiStEr MargarEt standing publishing in Middle East studies. She was a member of the board of the r. KEnny ’51 QUEntin a. Bryant will help to ensure that the University continues to attract and October 18, 2008 Middle East Studies association, an editor of the Middle East Report, and a consul- September 5, 2008 SUnESOn ’61 KEnnEtH B. September 23, 2008 tant to the World Bank and other organizations. She leaves her husband, tom, and retain top faculty, build and maintain inspiring facilities, and stay at 51 HaZarD ’ 41 JOSEpH p. MOZDEn ’ her son, Eric. a memorial scholarship is being established in her name. January 11, 2008 April 19, 2008 rHOnDa (SaULinO) the forefront of technological innovation. MyErS ’63 HELEn (HEnnESSEy) rUtH (SHarKEy) July 12, 2008 Faculty MeMorial MitCHELL ’42 KEEgan ’52 MOrriS “MiCKEy” pErLOW, professor emeritus of accounting, July 14, 2008 May 3, 2008 FranCiS J. FOLEy ’68 February 20, 2007 died on august 18, 2008, at the age of 74 in his home in Seminole, CHarLES V. rUSSELL n. Fla. Known for his outgoing personality and friendly nature, MOnBLEaU ’42 LaHiFF, Jr. ’52 CatHErinE (ELLiOtt) February 22, 2008 March 6, 2008 WarD ’68 perlow was a much beloved instructor at Bryant from 1971 to 1980. August 16, 2008 prior to his recent retirement, he served as a faculty member at the aLFrED ZErViS ’43 CHarLES S. April 27, 2008 MatOian ’52 BarBara r. University of tampa. He leaves his wife, Judith; his daughters, robin and Karen; June 21, 2008 MarOnEy ’69 and two grandchildren. gLOria (FraLiCK) July 7, 2008 DyMLing ’44 aLLEn F. SWann ’52 August 12, 2008 April 27, 2008 MarCO D. trustee MeMorial pEtrUZZi Jr. ’70 riCHarD OStEr ’91H, age 73, died on December 1, 2008, in ELEanOr (JanKUra) E. ErnESt JOHnSOn ’53 October 5, 2008 SKUBy ’47 April 3, 2008 providence. Best known as the successful chairman of the Cookson Mary (tOnEr) October 10, 2008 group, a multinational company, Oster served on Bryant’s CaMErOn ’72 CHarLES r. aDaMS ’48 August 8, 2008 Board of trustees from 1992 to 2001. among his many awards July 24, 2008 and recognitions, Oster received an honorary degree from Bryant in 1991. He is survived by his wife, Sandra, as well as five children and seven grandchildren. Make your gift today. Visit www.bryant.edu/annualfund to give online and hear firsthand what students have to say.

36 Bryant Spring 2009 290318.IBC:290318.IBC 3/11/09 5:23 PM Page 1

Participate in the Bryant University Annual Fund Trustee Challenge gives your gift twice the impact

“ If ever there was a time to participate in Bryant’s

Bryant’s Board of Trustees has stepped forward annual fund, NOW is the time.

to issue this challenge to all alumni, parents, There’s a very identifiable need in the student and friends of the University: Make your gift population. We want to lend support – where before June 30 and each and every new gift, and it’s justified – to students that face having to exit the campus for every increased gift, will be matched by members financial reasons.” of the Board, up to $100,000.

Gifts to the Bryant Annual Fund help the University offer an extraordinary education to our students, providing vital financial assistance to those who might not otherwise have the opportunity to attend Bryant, or who may not be able to continue their studies. Michael Fisher ’67 Every gift is important. Chairman of the Board

In addition to financial aid, your gifts make it possible for students to participate in organizations and activities, and innovative programs including the Sophomore International Experience. Your support of Bryant will help to ensure that the University continues to attract and retain top faculty, build and maintain inspiring facilities, and stay at the forefront of technological innovation.

Make your gift today. Visit www.bryant.edu/annualfund to give online and hear firsthand what students have to say. Bryant University 1150 Douglas Pike Smithfield, RI 02917-1284 www.bryant.edu

During Collegiate Entrepreneurs’ Organization Day, students showed their enthusiasm for the prospect of starting their own enterprise. For more on Bryant’s entrepreneurship programs, take a look inside this issue of Bryant, page 16.

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