SimonBusiness Simon Graduate School of Business | University of Rochester | Fall 2009
Inside: Zupan, Wadhawan and Lam Major Gifts • Professorship Installations New Executive Education Offerings • Schwert on Market Volatility Gift from the Heart In what he is calling a “gift from the heart,” Dean Mark Zupan has made a $1 million endowment commitment to the Simon School. It is believed that Zupan’s gift is unmatched by any current or previous business school dean. “This is a truly special gift,” said University President Joel Seligman. “Mark has been an inspiration as a teacher, a scholar and an administrator. Now, he also has inspired us through his philanthropy. There are very few people who contribute to our work in so many ways. His dedication, vision and generosity make me proud to be his colleague.” In announcing his gift at a recent dinner for University trustees, Zupan explained that he was motivated in part by the gifts of previous donors. “So much of what we do in teaching and research is possible because of the support we receive from friends and alumni. I wanted to recognize that,” he said. Zupan added that he was especially inspired by the gift of $30 million last year from board chairman Edmund A. Hajim (for more on Hajim, see p. 04). “As important as the amount is, I think I was even more impressed that it was a genuine stretch gift, which required some real dedication and commitment,” Zupan said. “Ed could have impressed us with a smaller gift, but that wouldn’t have been enough for him. His gift inspired me to stretch, too, even if not at his level.” Zupan mentioned another motivation for his gift. His mother, Maria, was among the first women to earn a doctorate in chemistry from the University. “My mother was an international scholarship student, and the scholarship support made it possible for her to come here, earn her degree and provide a career for herself and a livelihood to support her family. That ultimately added to my own opportunities as a professor and administrator and eventually provided the means to be able to make a commitment to give back to Rochester. “As Ed said, paraphrasing George Eastman, ‘Education is the solution to everything.’ I believe Zupan with his mother, Maria, on the Eastman Quadrangle, circa 1962.
that, too,” Zupan said, “and I want to do what I can to make a difference in being part of that solution through the Simon School. I’m also a big believer in Jean-Jacques Rousseau’s saying: ‘The only thing we have left in the end is that which we gave to others.’ ” While Zupan remains dean of the Simon School, his gift will provide scholarship support to Simon students, either international or domestic. When he finishes his service as dean, the gift will become available to his successors as an endowed fund to support innovation Zupan with sons Walker (at left) and Will in the same spot, circa 2005. and the entrepreneurial spirit at Simon. SB Fall 2009
• Promise Award at Wegmans L.P.G.A. • Commencement 2009 • Simon Sets New Trend on Major Gifts • Recent Rankings • Simon in the News • Simon Expands Executive Education Offerings • Simon Partners with Peace Corps on Fellows/U.S.A. Program • Simon Joins Forces with Management Leadership for Tomorrow • Deloitte B2B Pricing Course 03 Dean’s Corner • New Hires/Promotions/New Executive Advisory Committee Members • Top National Business Leaders Visit Simon • Teach for America® Scholarships • Marketing and Communications Awards 03 Upfront • Alumnus Earns Edison Award
16 Research Leadership Highlights • Stock Volatility—by Sally Parker • Three Simon Faculty Receive Tenure • New Faculty and Promotions • Dennis Kessler Installed as Ackley Professor • Professorship Installations • In Memoriam: Professor Paul J. Schweitzer
24 Weathering the Storm: Simon Graduates Foil the Great Recession
• A Note from Admissions • Share Your News • Alumni Gatherings 33 Alumni News • Seeking All Bay-Area Simon Alumni • In Memoriam • Simon Alumni Council • Mergers & Acquisitions • Class Notes • Alumni Leader Profiles: Kelly Stone ’03, Jeffrey Knauss ’01, Ike Tokita ’94, Susan Topel-Samek ’95,* Stephan Wiederkerh ’04*
*Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 01 Dean Mark Zupan Executive Advisory Committee Barry W. Florescue, B.S. ’66 Robert M. Osieski, B.A. ’77, M.B.A. ’78 J. Peter Simon ‘08 HNR, Chairman William Forman, B.A. ’82, M.B.A. ’83 Sandeep Pahwa ’95 Admissions and Financial Aid Gregory V. MacDonald Philip G. Fraher ’93 Steffen W. Parratt, B.S. ’85, M.S. ’87 Executive Director of Admissions and Administration Sami Abassi ’88 Roger B. Friedlander, B.S. ’56 Warren (Barry) Phelps III ’73 Joseph Abrams ’74 W. Barry Gilbert ’82 Kevin Pickhardt ’90* Advancement Edward J. Ackley, B.S. ’53., M.S. ’64 James S. Gleason ’68* James Piereson Christian Gordon Mark S. Ain ’67 Robert B. Goergen, B.A. ’60 Adm. Stuart F. Platt, B.S. ’55, M.B.A. ’70 Executive Director of Simon School Advancement Gerald A. Altilio ’92 Gwen Meltzer Greene, B.A. ’65 Mark D. Quinlan, B.A. ’82, M.B.A. ’85 Career Management Center John W. Anderson ’80 Bruce M. Greenwald, B.S. ’68, M.B.A. ’69 David Reh ’67 Mary Terwilliger Brian Archibald, M.S. ’94 Mark B. Grier ’80 Robert E. Rich Jr. ’69* Interim Executive Director of Career Management Ajay Asija ’96 Jeff Hanson Efrain Rivera ’89 Executive M.B.A. Programs Neil A. Augustine, B.A. ’88, M.B.A. ’89 Joseph J. Honick John Robbins ’74 Carin Conlon ’99* Michael J. Behrman ’92 Robert O. Hudson ’80* Stephen E. Rogers ’90 Executive Director of Executive Programs Joseph M. Bell Charles R. Hughes ’70 Michael P. Ryan, B.A. ’81, M.B.A. ’84 Jay S. Benet ’76 Harvey H. Jacobson ’82 Albert Salama, B.A. ’73, M.B.A. ’74 M.B.A. Administration and External Relations Russell P. Beyer ’82 Rene F. Jones ’92 Richard Sands Hollis S. Budd Taj S. Bindra ’86 Rufus Judson ’06* Leonard Schutzman ’69 Associate Dean for M.B.A. Administration and External Relations Paul A. Brands ’66 Vineet Kapur ’99 Joel Seligman (ex officio) Faculty and Research Michael A. Braun, B.A. ’71, M.B.A. ’72 David T. Kearns, B.S. ’52 Muriel Siebert ’04 HNR Rajiv M. Dewan, ’84 M.S., ’87 Ph.D. Steven P. Brigham ’99* Robert J. Keegan ’72 William E. Simon Jr., Esq. Senior Associate Dean for Faculty and Research; Chairman, Ph.D. Program David J. Burns ’78 John M. Kelly Gregg M. Steinberg Finance and Operations Andrew M. Carter Dennis Kessler Joel M. Stern J. C. Stevens ’98 Eduardo Centola ’93 David Khani ’93 Martin Stern, B.A. ’79, M.B.A. ’80 Executive Director of Finance and Operations Kevin P. Collins ’82 Ronald B. Knight, B.S. ’61 Michael C. Stone ’95* Donald L. (Skip) Conover ’79* Robert B. Koegel Amy Leenhouts Tait ’85* Information Technologies W. Michael Corkran ’77 Alex Nakonechnyi Evans Y. Lam, B.A. ’83, M.B.A. ’84 Andrew J. Thomas ’91 Executive Director of Information Technologies José J. Coronas ’75* Daniel G. Lazarek ’91 Jon Van Duyne ’85 Clifford J. Corrall, B.A. ’86, M.B.A. ’87 John C. MacDonald ’86 Sanjay Vatsa ’89 Marketing and Communications Frank G. Creamer Jr. ’70 Rohtash Mal Kapil Wadhawan Dawn S. McWilliams Carol A. (John) Davidson ’88* Jeff E. Margolis, B.A. ’77, M.B.A. ’78 Kathy N. Waller, B.A. ’80, M.B.A. ’83 Executive Director of Marketing and Communications John L. (Jack) Davies, B.A. ’72, M.B.A. ’73 Donna L. Matheson, B.A. ’78, M.B.A. ’79 Ralph R. Whitney Jr., B.S. ’57, M.B.A. ’73* Master’s Programs Harindra de Silva, M.B.A. ’84, M.S. ’85 Louise McDonald ’99* Janice M. Willett ’78 Delores Conway Joseph G. Doody ’75 Charles W. Miersch ’70 Joseph T. Willett ’75 Faculty Associate Dean for Master’s Programs; Visiting Professor of Stephen Down, B.A. ’88, M.B.A. ’95 Richard T. Miller ’91 Timothy W. Williams ’86* Statistics and Real Estate Christopher T. Dunstan, B.A. ’77, M.B.A. ’81 Carlos P. Naudon ’74 Program Development Ronald H. Fielding, M.A. ’73, M.B.A. ’76 Jeffrey R. Olsen ’91 *Executive M.B.A. graduate Ronald W. Hansen Senior Associate Dean for Program Development; William H. Meckling Professor of Business Administration; Director of the Bradley Policy Research Center www.simon.rochester.edu ______Editor Charla Stevens Kucko Contributing Writers Sally Parker, Kathryn Quinn Thomas Art Director/Designer Geri McCormick Production Manager John M. Robortella SIMONBUSINESS, Vol. 23, No. 1 © 2009. ISSN 1077-5323 Published two times per year by the University of Rochester, William E. Simon Graduate School of Business Administration, 2-341 Carol G. Simon Copy Editors Hall, Box 270100, Rochester, New York 14627-0100. Ceil Goldman, Dawn S. McWilliams Photography Office of Marketing and Communications: (585) 275-3736 (phone), (585) 275-9331 (fax), [email protected]. Richard Baker, Annette Dragon, John Smillie, Shannon Taggart ______Postmaster: Send address changes to the William E. Simon Graduate School of Business Administration, 2-341 Carol G. Simon Hall, Box 270100, University of Rochester, Rochester, New York 14627-0100. Simon Alumni News Contributing Writers © 2009 William E. Simon Graduate School of Business Administration, University of Rochester Kate Gruschow, Joy Underhill SMC08-09-83
02 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Dean’s Corner Promise Award at Wegmans L.P.G.A.
Business schools, including the Simon School, are judged by many factors, among them the impact they make through the power of ideas and research, the quality of teaching and how graduates use that knowledge to advance their careers. We are proud of the outstanding reputation for excellence that the Simon School has earned around the world. While they are not without their flaws, rankings are an important mechanism for promoting the quality and reputation of the Simon School. When it comes to the Lynn Sullivan ’91, chief financial officer and executive vice rankings, placement is arguably the most critical driver in president of the Association for the Blind and Visually how business schools fare, especially for a smaller school Impaired–Goodwill Industries of Greater Rochester, such as Simon. For example, in spring 2008, if only five more and member of the Simon Alumni Council, received the Simon students had been employed by graduation (as well 2009 Susan B. Anthony Promise Award at the L.P.G.A. as three months post graduation), the Simon School would Conversation with Champions luncheon during the Pro-Am have earned a top 20 ranking from U.S. News & World Report, on June 24, 2009. The annual award honors a Simon School all other things remaining equal. This underscores how alumna whose career, leadership, energy and wisdom promise much heightened performance vis à vis placement outcomes to help realize women’s full social, political and economic can raise our School’s reputational standing and how each equality. The award was presented by Mary-Beth Cooper additional job lead is so valuable to us. ’00,* Vice President, Rochester Institute of Technology and In light of the foregoing, I invite you to consider Simon previous winner of the award, with Nora Bredes, director talent when filling any open positions you may have at your of the University’s Susan B. Anthony Center for Women’s organization or when you run across opportunities at any Leadership. Pictured (from left): Simon School student other organizations. Please contact me or Mary Terwilliger, Yu Yang ’10; Harriette J. Royer, director of counseling interim executive director of career management, at (585) and education at the Simon School Career Management 275-8998 or [email protected], to find Center; Ariane Krenichyn ’05, Simon School associate out more about the bright and talented candidates that await director of admissions and director of the Early Leaders® you here at the Simon School. Awards Program; Charla S. Kucko, Simon School director of If we can help you in return, please don’t hesitate to marketing and communications and media relations; Dawn contact us. S. McWilliams, Simon School executive director of marketing and communications; Lynn Sullivan ’91; and Lynn’s mother, Lois Buttino. SB Mark Zupan Dean *Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 03 Upfront
Commencement 2009
dmund A. Hajim, B.S. ’58, chairman and C.E.O. of MLH ECapital L.L.C., received the David T. Kearns Medal of Distinction and delivered the Commencement address at the Simon School’s Commencement ceremonies on June 14, 2009. University of Rochester President Joel Seligman led the event, which graduated a total of 375 students (in addition, the Simon School’s Executive M.B.A. Program in Bern, Switzerland, graduated 33 students in June 2009). Hajim has been a generous benefactor of both the University and the Simon School. Earlier this year, he gave a transformational gift of $30 Pictured at the 2009 Simon School commencement ceremony are (from left): Edward J. Ackley, B.S. ’53, million to the School of Engineering M.S. ’64; David T. Kearns, B.S. ’52; President Joel Seligman; Edmund A. Hajim, B.S. ‘58; and Dean Mark Zupan. and Applied Sciences. As chairman of the University Board of Trustees, he “Ed Hajim’s impact on the B.A. ’54, have been extremely is instrumental in charting the future University has been broad and supportive of the Simon School over course of the University. His generosity lasting,” says Dean Mark Zupan. the years. Ed Ackley is the former has extended to the Simon School “We are honored to present him with owner and president of The Filter Store throughout the years for program, the Kearns Medal, which recognizes in Mendon, N.Y. Previously, he was scholarship and capital support. ‘significant achievement in business, C.E.O. of Consler Corporation, which After graduating from public service and education.’ ” he built into a multimillion-dollar Rochester with a degree in chemical The medal is named after David T. company before selling it to Graver engineering, Hajim earned an M.B.A. Kearns, B.S. ’52, the former chairman Technologies. In 2005, the Ackleys with distinction from Harvard and C.E.O. of Xerox Corporation, a made a major donation to the School Business School and embarked on tireless leader not only in the corporate to endow and establish the Edward his investment career. After senior world, but also in the movement to J. and Agnes V. Ackley Executive leadership positions with firms restore educational excellence in the Professorship in Entrepreneurship, including the Capital Group, E. F. United States. Simon awards the medal currently held by Simon faculty Hutton and Lehman Brothers, he to individuals who have demonstrated member Dennis Kessler, co-owner of became chairman and C.E.O. of the same dedication to excellence that Kessler Restaurants L.L.C., owner and Furman Selz, which he sold twice, has characterized the achievements of operator of 41 Friendly’s and 21 Burger first to Xerox in 1987 and then to ING David Kearns. King restaurants in the region. Group in 1997. In 2002, he became Edward J. Ackley, B.S. ’53, “The Ackleys’ commitment to the chairman and C.E.O. of MLH Capital, M.S. ’64, received the Distinguished study of entrepreneurship at Simon has which manages investment funds, Alumnus Award, which recognizes a been unwavering,” says Dean Zupan. and also became a director of Morgan Simon School graduate who has both “It will have a long and positive impact Joseph. A member of the University’s achieved significant career success and in training and supporting global Board of Trustees since 1988, he served the School and the community entrepreneurs of the future.” SB succeeded Robert G. Witmer ’59 as in important and lasting ways. Ed chairman of the board last spring. Ackley and his wife, Agnes V. Ackley,
04 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Simon Sets New Trend on Major Gifts
Dean Mark Zupan (far left); Vijay Shanka; Meena Singh ‘85; Dr. Rajesh Inglé; Raj Shekhar; Gaurav Modwel; Carin Conlon ‘99*; Jennifer Patterson; Rajiv Dewan, ‘84 M.S., ‘87 Ph.D.; and Ronald W. Hansen.
he Simon School is starting a “Our late father laid the Citigroup Smith Barney. Previously, new trend among the nation’s foundation of a business enterprise Lam was director of corporate finance Ttop business schools with two with a vision to empower ordinary at Toronto Dominion Bank and vice major gifts from international donors people,” said the Wadhawans. “Today, president at Deutsche Bank. He to establish endowed professorships. the company he founded, Dewan currently serves on the Simon School Housing Finance Corporation, is one Executive Advisory Committee and Wadhawan Gift of India’s biggest housing finance National Council, and the University The Wadhawan family, leaders of institutions. Through this endowment, of Rochester’s Regional Cabinet in Los a multi-billion dollar retail, real estate we are taking forward his vision of Angeles, Calif. and hospitality industry conglomerate transforming society by imparting “I am forever grateful to the across India, has pledged $1.5 million the gift of knowledge to a growing University of Rochester and the Simon to establish an endowed professorship generation of business leaders. It is our School for providing me with the fund at the Simon School. The gift earnest belief that knowledge not only foundation for my career in corporate is the first of its kind from an Indian leads to wealth creation but also to a finance and investment management. family to a top-tier U.S. business more progressive society.” I came to the United States with $180 school. In addition, Simon School faculty and a four-year scholarship from the The Rajesh Wadhawan will begin teaching non-degree University. The School enabled me Professorship Fund will be used to executive education courses for firms to fulfill the American dream. Giving support a full-time faculty member in India beginning later this academic back is part of this dream, and what who plays a leading role in advancing year. makes America great. I am inspired the standing of the Simon School and by Dean Zupan’s vision for the management education through service Lam Gift institution, and honored to contribute and teaching contributions with a native of China Hong Kong, to the fulfillment of ‘Meliora’—‘Ever preference for a professor making an Evans Y. Lam, B.A. ’83, Better.’” impact in India. The professorship AM.B.A. ’84, and his wife, “We are most grateful to the will help attract/retain leading faculty Susanna, are beginning a $1.5 million Wadhawan and Lam families for to research and teach at the Simon endowment to support a professorship their investment in the future of School. The gift, in memory of the late at the Simon School. The Susanna and the Simon School,” says Zupan. patriarch of the Wadhawan family, Mr. Evans Y. Lam Professorship will allow “Their gifts will enable us to bring Rajesh Kumar Wadhawan, is from his the School to attract global business premier scholars to Simon to train wife, Aruna R. K. Wadhawan, and his scholars from around the world. Lam the world’s future business leaders. sons, Kapil and Dheeraj Wadhawan. is senior vice president–investments, We are also immensely grateful for The fund is an effort to build at UBS Financial Services. Prior to their willingness to set a new example upon the Simon School’s top-ranked joining UBS in 2008, Lam was senior of philanthropy from international business education by growing its vice president of wealth management donors to top-tier schools of business world-class faculty. and senior portfolio manager at in the United States.” SB
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 05 Upfront
Recent Rankings The Simon School continues to be ranked among the top business schools in the world in surveys conducted by the national and international media.
Simon is ranked 2nd in the world Simon ranked 9th for most improved for finance and 5th in the world for Simon is again ranked among the top and 10th for accounting among the managerial economics among the business schools in the nation by U.S. top business schools in the world world’s top 100 business schools in an News & World Report in its annual in BusinessWeek business specialty annual survey in the January 26, 2009, survey, listed 29th in the magazine’s rankings. issue of the Financial Times of London April 28, 2009, issue. The survey also In addition Simon placed 14th (FT). ranked Simon 13th in finance and 25th for innovative curriculum, 20th for Overall, the Simon School ranked in accounting among U.S. business finance, 21st for operations/production, 46th among global business schools schools. This is the 16th time that 22nd for competing globally, 25th for and, for the third straight year, 22nd Simon has ranked among the top 30 analytical skills, 26th for career services among U.S. business schools. This is U.S. business schools since the annual and 31st for general management. the ninth time that the Simon School survey’s inception in 1990. Last December, BusinessWeek has been ranked in the top 25 in the “We are indeed gratified by this ranked Simon the top private business United States by the FT out of the 11 recognition,” says Dean Mark Zupan. school, the fourth U.S. business times that the annual survey has been “Our ultimate goal is to continue school and 12th globally for return on conducted. The Simon School has been providing our students with a first-rate investment. ranked in the top 30 in the United graduate business education while States by the FT all 11 years since the remaining committed to a process of survey’s inception in 1999. continuous improvement.” SB
Simon in the News The following gives capsule descriptions of recent national and international coverage of the Simon School. Visit www.simon.rochester.edu for more Simon news.
“Friday the 13th Phobia? For Investors, It’s Usually a Good Day,” February “Talking to Simon GSB at University 13, 2009, features Simon Professor G. of Rochester Re: Regional/Local M.B.A. “Is Kodak Fading?” July 31, 2009, William Schwert’s massive dataset of Versus Big Name M.B.A. Programs,” features a live interview with Dean stock market returns for every day all May 15, 2009, features a Q&A with Zupan about Kodak earnings and the the way back to 1885. Greg MacDonald, Simon School outlook for the company. executive director of admissions and administration, about the costs and benefits of attending a regional versus a national business school. “Rochester Dean Leads Donations,” April 7, 2009, states that Simon School “Would a CIT Failure Derail the Dean Mark Zupan has made a $1 Economy?” July 16, 2009, quotes Dean million commitment to the Simon “Stricter MPG Rules May Help Zupan stating the effect on the economy School. Automakers,” May 20, 2009, quotes may be “fairly minor” as other banks Dean Mark Zupan on the issue. could pick up CIT’s business.
06 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Simon Expands Executive Education Offerings
he Simon School will have a physical presence in the center of the financial universe, thanks to students Tfrom Dean Mark Zupan’s class, “Meliora.” In the class, students are expected to design a solution to an issue facing the School. This year’s winners, Michael Sassoon ’09 and Nancy Hsieh ’09, tackled the question of how to more closely connect Simon to New York City, a key link between prospects, students and corporations. Their idea? Creating a satellite campus in New York City that would offer open enrollment, executive education programs, custom executive education courses, conferences and even M.B.A. and M.S. course offerings by 2015. The initiative has been coined internally Simon of New York City (SONYC). Through generous funding from our alumni and patrons, the idea is becoming a reality. By spring 2010, Simon will begin holding conferences and executive education short courses for businesses in Manhattan and available to the tri-state area. Simon’s customized executive education curriculum offerings in New York City will be similar to the programs Simon already offers to clients that include Johnson & Johnson, Carestream and Xerox, among others. The programs are developed in close consultation with clients’ executive leadership, to provide specific knowledge or tackle a strategic problem facing the firm. Simon’s presence in New York City will focus on a number of strategic goals, says Carin Conlon ’99,* executive director of executive programs. It is expected to: • Strengthen our recruiting relationships with key New York City area companies; • Provide educational refresher opportunities to alumni; • Provide additional contacts for Simon students in the financial capital; • Enhance the reputation of the School in this region; and • Focus intently on teaching from the Simon School’s unique strengths: finance, managing risk across disciplines, governance issues, and pricing. “These are knowledge areas that we can provide to firms in this area that other institutions there cannot,” Conlon says. “Especially risk management—our cross-functional curriculum tackles this issue better than anybody.” SONYC was officially launched on October 1 at the Simon in the City event, In a New York Minute. For more information about our programs, contact Carin (From left): Michael Sassoon ’09 and Nancy Hsieh ’09. Conlon, [email protected], (585) 275-2937. SB
*Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 07 Upfront
Simon Partners with Peace Corps on Fellows/U.S.A. Program
he Simon School has recently partnered with the Peace Corps as part of that organization’s Fellows/U.S.A. Tprogram. Returning Peace Corps volunteers receive up to $10,000 a year toward tuition to study at the Simon School. The Fellows/U.S.A. program works with more than 40 universities to offer this kind of financial assistance to its volunteers who pursue graduate studies in a variety of subject areas. “We see this partnership as win-win: Volunteers who have given of themselves in this way have earned a break in tuition, and they in turn will bring their wide-ranging experiences and leadership skills to Simon, to the benefit of all,” says Dean Mark Zupan. SB
Simon Joins Forces with Management Leadership for Tomorrow
Currently, the Simon School has one of the most globally diverse student bodies among top business schools. Simon, however, is experiencing the same challenge facing top business schools in terms of attracting and recruiting underrepresented minorities. At Simon, 26 percent of U.S. students are underrepresented minorities, which is above the national average. According to a joint study by M.L.T. and Boston Consulting Group, minorities comprise only 16 percent of graduates from the top 100 colleges and 8 percent of all students at the top 30 M.B.A. programs (versus 12–13 o further promote diversity among the student body, percent at top law and medical schools). the Simon School is partnering with Management The Simon School acted early to address this issue, TLeadership for Tomorrow (M.L.T.), a national becoming a charter member of The Consortium for Graduate nonprofit that develops African-American, Hispanic- Study in Management, an alliance of leading U.S. business American and Native American young people for leadership schools and members of the national business community positions in corporations, nonprofits and entrepreneurial whose mission is to encourage and enable the largest possible ventures where these minority groups are significantly number of talented African-American, Hispanic-American underrepresented. and Native American college graduates to attend full-time The Simon School joins a select list of top business M.B.A. programs and subsequently pursue successful schools and major corporations in partnership with M.L.T. business careers. The School also belongs to the National to smooth the transition from early career to an M.B.A. and Black M.B.A. Association and is a university partner with from an M.B.A. to executive leadership. the National Society of Hispanic M.B.A.’s, organizations that “We are pleased to partner with M.L.T. to attract more promote diversity and help underrepresented minorities find diverse M.B.A. candidates to the Simon School,” says Dean internships and jobs. SB Mark Zupan. “A diverse student body reflects the global business environment and enriches the experience for all,” he notes.
08 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Deloitte Pricing Course
Jonathan Copulsky, principal at Deloitte Consulting L.L.P., teaches the B2B Pricing course at Simon.
he Simon School recently teamed up with Deloitte “Pricing is one of the most popular elective courses we L.L.P. to offer a new Business to Business (B2B) offer at Simon,” says Dean Mark Zupan. “Our partnerships TPricing course—an extension of a partnership that with the Professional Pricing Society, and now with Deloitte, began in February 2008. underscore the importance of providing training and The course was offered to all Simon full-time, part-time leadership in this field.” and executive M.B.A. students, alumni and outside pricing “Many businesses don’t even have people thinking professionals through the newly created Center for Pricing at about price—not, at any rate, in terms of how it affects Simon. Taught by Deloitte pricing executives, the course was profits,” says Jonathan Copulsky, principal at Deloitte designed to meet increased market demand for experienced Consulting L.L.P. “As the economy slows, it’s becoming more professionals in this high-growth field. Students learned important than ever to have people who understand exactly about the latest strategies, emerging trends and the newest what goes into the cost of goods and services, how to focus pricing technologies, while having access to top professionals the sales force on deal profitability, and how to improve and experts in the pricing industry. market share without hurting profitability.” SB
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 09 Upfront
New Hires/Promotions
Laura Blumkin has Most recently, she has worked in communications from the University been appointed Ph.D. quantitative and qualitative research of Evansville. She has served as a Program administrator. positions with Harris Interactive. career consultant for Oregon State, In her position, she Krenichyn’s M.B.A. at Simon included has worked for the English Language works with all parts concentrations in Marketing/Brand Institute teaching students for whom of the Ph.D. Program, Management and Competitive and English was their second language, and including supporting Organizational Strategy; she also holds most recently took an international prospective students a B.S. in business administration from assignment in Quito, Ecuador, as a in the admissions process, current Rochester Institute of Technology. world history/political science teacher, students as they achieve their doctoral advancing the English skills of her program milestones and graduating Sean Kunow Ecuadorian students. SB students as they proceed through their has been named thesis defense. Blumkin earned a B.A. assistant registrar New Members Join degree in religion from the University in the Simon School of Rochester and a J.D. from Brooklyn Registrar’s Office. Executive Advisory Law School. A member of the New Previously, he was Committee York State Bar, she has worked as an operations manager The Simon School Executive Advisory associate in law firms in New York City in the University of Committee has welcomed new and Albany, and has also worked for Rochester Undergraduate Admissions members: Sami Abbasi ’88, chairman the State of New York as a senior health Office. He earned a degree in computer and C.E.O., National Surgical Care; programs analyst. Prior to law school, information systems from Monroe Edward J. Ackley, B.S. ’53, M.S., she was an assistant director in the Community College and a B.S. in ’64, former president, The Filter Undergraduate Admissions Office at the management information systems from Store; Gerald A. Altilio ’92, vice University of Rochester. Rochester Institute of Technology. president, crude oil trading, Gavilon L.L.C.; Michael A. Braun, B.A. ’71, Anthony (Tony) Kelly Rains has M.B.A. ’72, C.E.O. emeritus, Intacct Green has been hired joined the Simon Corporation; William Forman, B.A. as associate director School Advancement ’82, M.B.A. ’83, president and C.E.O., of admissions/director Office as program North Atlantic Industries Inc.; of M.S. Programs. In assistant, where she Gwen Meltzer Greene, B.A. ’65, this position, he will will support alumni associate director, Bear Stearns, a oversee marketing, and donor events division of J. P. Morgan; Harvey H. recruitment and and stewardship and Jacobson ’82, president, California selection for Simon’s specialized M.S. will manage the class correspondent Financial Partners; John C. programs. Previously, Green served program. Rains holds a B.A. in MacDonald ’86, partner, Updata as a senior research associate in the humanities from New College of Advisors Inc.; Louise McDonald Brand & Communications Group at Florida and an M.F.A. from Rochester ’99,* executive vice president and Harris Interactive. He holds a B.S. from Institute of Technology. president, International, Welch Allyn Rochester Institute of Technology and Inc.; Jeffrey R. Olsen ’91, chief an M.B.A. from the Whitman School of Jenny Sullivan was financial officer, Rio Tinto Minerals; Management at Syracuse University. named a consultant Mark D. Quinlan, B.A. ’82, M.B.A. in the Career ’85, executive vice president, C.I.O., Ariane Krenichyn Management Center, Associated Bank; Kevin Pickhardt ’05, joined the where she will be ’90,* C.E.O., Pharos Systems; John Simon School working with M.S. Robbins ’74, president, Greathorn Admissions Office as students. Sullivan, Properties Inc.; Muriel Siebert ’04 associate director of whose special area of HNR, president, Muriel Siebert & admissions/director of interest is career services education for Co.; and Kapil Wadhawan, chairman, the Early Leaders® international students, has an M.Ed. Wadhawan Holdings Pvt. Ltd. SB Awards Program. from Oregon State and a B.S. in mass
10 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Top National Business Leaders Visit Simon
The Simon School hosted another impressive group of national executives this past winter and spring to speak to students about their careers and current challenges. Among the speakers were:
Ann McDaniel, vice president of The Washington Post Company, delivered Gerald Ostrov, president and C.E.O. at Bausch and Lomb, discussed the a lecture titled “Unfinished Business: The Promise of Women’s Leadership,” on company’s achievements and challenges in light of the economy on October September 25, 2008. McDaniel oversees all aspects of the company’s human 6, 2008. Ostrov joined Bausch & Lomb in January 2008. From 1998 to 2006, he resource efforts, including those at the company’s affiliates, and oversees three was company group chairman, Worldwide Vision Care, for Johnson & Johnson, units: The Gazette Community Newspapers, PostNewsweek Tech Media, and where he led its global Vision Care businesses. Prior to that, he held other senior The Herald. Previously, she spent 17 years at Newsweek magazine, owned leadership roles at Johnson & Johnson, and was president of Ciba Consumer by The Washington Post Company, where she served as managing editor and Pharmaceuticals from 1985 to 1991. Washington bureau chief.
Daniel Hecht ’92, general manager, North America Pharmaceuticals, at Procter & Gamble, shared his thoughts on brand management during a talk on October 16, 2008. Hecht has 16 years of experience in the health care arena working on both the ethical and over-the- counter side of the business; domestic and international markets; and sales, marketing and general management.
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 11 Upfront
Patrick Howard, partner and vice president of I.B.M. Global Business Kevin Glazer, whose family owns the National Football League team Tampa Bay Services, spoke about globalization and I.B.M.’s experiences executing the Buccaneers and the U.K.-based international soccer franchise Manchester United, globally integrated enterprise for clients on November 4, 2008. Howard is the discussed sports management during his talk on November 12, 2008. The family global leader for application services for I.B.M. In this role, he heads a global portfolio also includes substantial real estate holdings nationwide. organization of 9,000 professionals charged with planning, developing and managing application systems for all business units and corporate functions in I.B.M. Previously, he served as the strategy and operations leader for Global Business Services—Americas Group. There, he provided strategic and operational leadership for a $5 billion business unit, with 25,000 professionals and over 4,000 active client engagements. His consulting assignments span over 26 years with I.B.M. Global Business Services and Price Waterhouse.
Lauren Dixon, founder and C.E.O. of Dixon Schwabl, and Mike Schwabl, president and owner of Dixon Schwabl, shared their experience as entrepreneurs in their advertising, marketing and public relations agency on March 4, 2009. Since its inception in 1987, Dixon Schwabl has grown to be one of Rochester and Upstate New York’s top marketing communications firms, earning national recognition for outstanding communications programs and a creative work environment. Dixon is responsible for the overall strategic growth and development of the agency; Schwabl is responsible for overseeing strategic planning, concept/ brand development and creative execution for all accounts, as well as the overall growth of the agency. Managing the in-house broadcast production and engineering staff, he works with agency editors to produce award-winning corporate videos, commercials and presentations. Dixon writes for the Women’s Entrepreneurship Blog @ Simon, www.webatsimon.com.
12 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Steven Brigham ’99,* chief information officer and vice president of Brookstone Robert A. Eckert, chairman of the board and chief executive officer of Mattel Inc., spoke to the Simon School community on April 6, 2009. Brigham shared Inc., delivered the 3rd Sands Leadership Lecture on April 1, 2009. Eckert joined his insights on the book The Goal and its impact on his career. Previously, he Mattel in May 2000 from Kraft Foods Inc. served as vice president and C.I.O. of The Timberland Company. Prior to that, he was vice president of supply chain operations and C.I.O. at Adaptive Broadband Corporation (formerly known as California Microwave Inc.).
ther speakers included: Dr. Peter L. Bocko, chief technology officer, Corning Inc.; Kevin Clark, Oprogram director, brand and value experience, I.B.M. Corporation; Thomas Ealy, C.O.O., Willis Group; Mark Erickson, president and C.O.O., Erickson Retirement Communities; Susan Gardner ’91, senior vice president, corporate development, Constellation Brands; Scott Givens, founder, The Givens Company; Jennifer Lawless, assistant professor of political science and public policy, Brown University; Gregg Lederman ’00, founder and managing partner, Brand Integrity Inc.; Jim Malvaso ’84,* president and C.E.O., The Raymond Corporation; Nancy O’Brien ’97, vice president, middle market consumer lender, RBS Citizens N.A.; Iveth Reynolds, C.E.O., Tri-Mar Consulting Inc.; Mark Reynolds, president, Tri-Mar Consulting Inc.; Jill Tietjen, C.E.O., Technically Speaking; and Lori Van Dusen, David Koretz, president and C.E.O. of BlueTie Inc., discussed his career and managing director, Convergent Wealth Advisors. current business challenges during a talk on May 12, 2009. Koretz is a serial entrepreneur who founded four successful technology companies by the age of 19. Under his leadership, BlueTie has received many prestigious awards, including being named a Forbes magazine “Best of the Web” company three years in a row, and one of the top four Web sites in the world for small businesses. *Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 13 Upfront
Teach for America® Scholarships
imon is teaming up with Teach says Dean Mark Zupan. “It fits very graduate study at the Simon School for America to offer up to five well with our overall strategy to shift will fast track graduates into highly Spartial-tuition scholarships the conventional wisdom related desirable employment opportunities.” annually to graduates of the Teach for to graduate business education in Scholarship recipients must America program. America.” Through the Early Leaders® meet standard Simon admissions The partial-tuition scholarships, initiative, Simon aims to attract highly requirements and complete an essay to worth a total of $20,000 over two talented individuals who choose not explain why they should be selected for years, are based on academic merit. In to wait the traditional five to six years the award. The standard admissions addition, Teach for America alumni currently expected by most top-tier interviews will be conducted both may be considered for other merit business schools. “Our recent success at Simon and on site in select cities scholarships, and a two-year deferral in placing younger M.B.A. graduates around the world. For further option exists for students who are has exceeded our expectations, and information, contact Greg MacDonald admitted to the program and choose to Teach for America alumni will at (585) 275-3533, e-mail greg. join Teach for America and complete contribute to this positive momentum,” [email protected]. SB the teaching requirement before says Gregory V. MacDonald, executive pursuing a graduate business degree. director of admissions.“We strongly “We are pleased to enter into this believe that launching a career with partnership with Teach for America,” Teach for America followed by
Simon Earns Marketing and Communications Awards
Marketing Association in its Internet Advertising Competition. The Internet ad campaign was specifically targeted to corporate recruiters. By participating in an online quiz about the Simon School, recruiters earned a Sirius satellite radio. The campaign generated significant interest in the School among potential employers. The School received a silver he Simon School’s marketing medal for Simon Business magazine and communications staff has in the Educational Services again earned national T Publication/External category from recognition for excellence in Simon earned two silver medals the Service Industry Advertising advertising, print and Web for Simon Business and the “Women Awards. Simon also earned a merit publications and collateral materials. on the M.B.A. Fast Track” brochure award for collateral materials, Simon was awarded Best from the 24th Annual Admissions including its financial aid and Education Integrated Ad Campaign Advertising Awards, sponsored by rankings brochures and information for “Tune into Simon” by the Web Admissions Marketing Report. SB receptions schedule card.
14 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Si m o n Al u m n u s Ea r n s Ed i s o n Awa r d
Sergey Rosolovsky ’97 is a recipient of one Rosolovsky created “quantitative measures of of General Electric’s prestigious 2008 Edison risk” that give capital solutions a competitive Awards, named for company co-founder and edge by enhancing their ability to predict and inventor Thomas A. Edison. The awards prevent defaults and losses with a higher degree are presented to technical innovators whose of confidence. He is also responsible for a novel contributions have made a significant impact on two-step approach to Loss Given Default (L.G.D.) the current and future vitality of their businesses. modeling that has resulted in better pricing and A native of Moscow, Russia, Rosolovsky investment decisions. In addition, he has guided came to Rochester with his wife and two children capital solutions and Asian businesses through in the early 1990’s to pursue the American development and validation of risk drivers and dream. The son of famed Russian chemists, he setting of actionable triggers for 43 product lines began his career in environmental protection for portfolio management. modeling, but quickly found that this was not a Previously, Rosolovsky served as global risk high-growth field in the United States. Instead, he manager at I.B.M. Global Finance. decided to earn his M.B.A. at the Simon School, Rosolovsky was honored at a reception with accomplishing his two main goals of mastering G.E. C.E.O. and Chairman Jeff Immelt and G.E.’s English and learning more about business and Engineering Leaders Council. He has designated finance. the Simon School to receive his $25,000 award As consistency modeling and portfolio grant to fund research that will continue to analytics manager for Capital Solutions at G.E., influence the global business environment.S B
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 15 Research Leadership Highlights
Stock Volatility — by Sally Parker Simon School expert in stock volatility says investors market history happened prior to the have less to fear than recent news headlines would last 10 years. Aseem to indicate. In fact, the last few years have During the U.S. stock market’s wild ride in 2008, media been unusually calm when viewed outlets reported on the size of market swings largely in absolute through the lens of history, says numbers—actual point drops. Such an approach is simplistic Schwert, who has studied the market’s and misleading, says G. William Schwert, Distinguished movement back to 1802. Yet it is to University Professor and professor of finance and statistics. these years of relative calm that the The truth, Schwert maintains, is that the market has media often compare recent stock G. William Schwert grown exponentially in its 200-year history, particularly in the activity with an air of alarm. last 30 years, making actual point drops meaningless measures To gain an accurate picture of current conditions, investors of volatility. In mid-1987, only 20 years ago, the Dow Jones should look at the market’s entire history, he notes. While Industrial Average stood at roughly 2,500. The 508-point recent volatility is real, in percentage terms it is well in line decline on Oct. 19 of that year, Black Monday, represented a with historical activity. nearly 25 percent decrease from the day before—a huge drop. Schwert says one factor driving big swings is a failure to The same point drop, however, in today’s much larger rescale market indexes to better measure stock movement. market (the Dow reached a high of 14,164 in October 2007) Other indexes, such as those used to measure consumer prices would reflect a much smaller percentage change. by the Bureau of Labor Statistics, are regularly rescaled to show Stock swings are more accurately measured as percentages, changes over time. not absolute numbers, because percentages give a clearer The common emphasis on absolute point drops has led to picture of the rate of return on investment, Schwert argues. In a apple-and-orange comparisons with other periods in market market that goes up 10 percent, for example, a $100 investment history, Schwert says. “One economic environment in which becomes $110. One dollar becomes $1.10. volatility was very high for a very long time was the Great “Regardless of the level of the price index, the rate of return Depression. That was not a good time.” is going to be the same,” he says. During the Depression, the federal government intervened Viewed in this way within the context of history, recent with programs meant to jump-start the economy. For some swings are no cause for alarm. “No sane person would worry eight years, public works projects employed thousands to build about the absolute scale,” Schwert says. “It can be very the trails, buildings and picturesque stone walls of national misleading.” Furthermore, he notes, the volatility at the end of parks, among other projects. Schwert says these efforts did little 2008 came as no surprise. to alleviate a sour economy, boost ongoing employment and lift “It was definitely high from mid-September to mid- rock-bottom stock prices. November 2008—I mean, really high,” Schwert says. “It He argues that what slowed the Depression was the reflected uncertainty about the creditworthiness of the financial economic activity generated by World War II. It took the sector. Banks used to represent a big chunk of the market, so production of tanks and other machinery of war to put people this volatility affected everyone quite a bit.” back into jobs. “We could see things being a lot more uncertain In fact, given the size of the market and its growth in the for a period of time,” Schwert says in comparison with the last 20 years, it makes sense that 59 of the 60 largest changes present situation. ”Part of the current volatility could be in the Dow and the S&P 500, in absolute numbers, occurred in uncertainty about how the economic stimulus plan will work the last 11 years. (The other came on 1987’s Black Monday.) out. It really depends on what that money gets spent on. The biggest percentage drops, however, did not take place ”There are a lot of things to be uncertain about. And these during that time period, Schwert says. Except for a handful questions won’t be resolved until we can see where things of event-driven, big-percentage changes in the last decade— are headed. But what we’re going through is well in line with including volatility in the technology sector during the late history. Through wars, recessions and financial crises, market- 1990’s and early 2000’s—the 60 largest percentage drops in level volatility has been remarkably stable over time.” SB
16 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Three Simon Faculty Receive Tenure
(From left): Michael Raith, Sanjog Misra and Joanna Wu. This year, three Simon professors were approved for promotion approval by the Board of Trustees. This process typically starts to associate professor with unlimited tenure: Sanjog Misra, in September and usually concludes in May or June. Michael Raith and Joanna Wu. The process involves an “We are very pleased to report that all three professors internal review by the Promotion and Tenure Committee, have been approved for promotion to associate professor with which includes solicitation of recommendations from senior unlimited tenure,” says Ronald W. Hansen, senior associate faculty at peer institutions, a review and recommendation dean for program development. “All three have made many from the Dean’s Office, review by ad hoc committees at the valuable contributions to the Simon School, and we look University level, the approval of the provost and ultimate forward to their continued involvement with the School.” SB
New Faculty/Promotions Delores Conway has joined the also served on the editorial boards of major academic journals, Simon faculty as a visiting professor including the Journal of the American Statistical Association. of statistics and real estate and as the Conway received her Ph.D. and Master’s degrees in faculty associate dean of master’s statistics from Stanford University and two undergraduate programs. She is a tenured faculty degrees in mathematics, statistics and computer science from member at the University of Southern the University of Wisconsin, Madison. California Marshall School of Business Rajiv M. Dewan, ’84 M.S., ’87 and the director of the Casden Real Ph.D., has been promoted to senior Estate Forecast at the Lusk Center for Delores Conway associate dean for faculty and Real Estate. research, in addition to serving as Conway’s research interests include statistics, real estate, associate professor of computers and health care management, finance, law, and labor markets. She information systems and chairman is widely respected for her research on the commercial and of the Ph.D. Program. Previously, residential real estate markets in Southern California, and her Dewan had served as faculty director reports are widely cited. She is frequently interviewed by the of graduate programs. Dewan national news media for her viewpoints on real estate markets. Rajiv M. Dewan succeeds Ronald W. Hansen, who has Recently, Real Estate Southern CA Magazine listed her as one of been named senior associate dean for program development, the “50 Women of Influence in Real Estate” in California. William H. Meckling Professor of Business Administration, Previously, Conway served on the Graduate School of and director of the Bradley Policy Research Center (see more Business faculty at the University of Chicago. She is an elected on p. 19 about Hansen). fellow of the American Statistical Association and a former chair of the Business and Economics Statistics section. She has
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 17 New Faculty/Promotions Paul Ellickson has joined the Jeanine Miklós-Thal joins the Simon School faculty as an assistant Simon School as assistant professor professor of Economics and of of economics and management. Marketing. Ellickson was a Simon Her primary areas of interest are faculty member from July 1999 to industrial organization, organizational June 2002 before leaving to join economics, competition policy and the economics department at Duke marketing, which mesh with studies at University. Much of his work has the Simon School’s Center for Pricing. Paul Ellickson involved empirical studies of the Miklós-Thal holds a Ph.D. in Jeanine Miklós-Thal supermarket industry. He and economics (with highest honors) Sanjog Misra have coauthored a paper, “Supermarket from the University of Toulouse and was a visiting scholar at Pricing Strategies,” forthcoming in Marketing Science, Massachusetts Institute of Technology. and he has conducted other research with Misra and Boris Nikolov, a student Marketing area coordinator Dan Horsky. of former Simon faculty member Ronald W. Hansen has been Erwan Morellec, has joined the named the William H. Meckling Simon faculty as assistant professor Professor of Business Administration of finance. He received his Ph.D. and senior associate dean for in finance at the University program development (for more on of Lausanne and has been a Hansen’s professorship, see p. 19). postdoctoral researcher at the Ecole Polytechnique Fédérale de Lausanne. Boris Nikolov Nikolov specializes in corporate Ronald W. Hansen finance and will assist in entrepreneurial finance. SB
Kessler Installed as Ackley Professor
ennis J. Kessler was installed as the Edward J. and Agnes V. Ackley Executive Professor of DEntrepreneurship on June 22, 2009. Kessler, the co-owner of Kessler Restaurants L.L.C., a Rochester, N.Y.–based owner and operator of 21 Burger King and 41 Friendly’s restaurants, has 27 years of experience in restaurant ownership, real estate and human resource development. He employs about 3,000 workers in central and western New York State and is the largest Friendly’s franchise restaurant owner in the country. In addition, he has led several successful start-up companies and is a member of the Council of Advisors for Gerson Lehrman Group Inc., an international association of academic and industry leaders consulting for recognized investment professionals worldwide. (From left): Dean Mark Zupan; Edward J. Ackley, B.S. ’53, M.S. ’64; Agnes V. Kessler earned a B.S. from the City University of New Ackley, B.A. ’54; Dennis J. Kessler; and President Joel Seligman. York, an M.A. from John Jay College of Criminal Justice, and an M.S.L. from Yale University Law School. owner and president of The Filter Store in Mendon, N.Y. The professorship was made possible by a generous Previously, he was C.E.O. of Consler Corporation, which he donation from the Ackleys, longtime supporters of the Simon built into a multimillion-dollar company before selling it to School. Edward J. Ackley, B.S. ’53, M.S. ’64, is the former Graver Technologies. (For more on the Ackleys, see p. 04). SB
18 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Professorship Installations Toni Whited Named Michael and of Oregon and a Ph.D. from Princeton University in Diane Jones Professor economics, working with Ben Bernanke, current president of the Federal Reserve Board. Whited worked at the Federal Reserve Board and was on the faculty of several universities before joining the University of Wisconsin in 2003. Whited, whose research deals primarily with the effects of financial markets on firm capital budgeting decisions, has taught finance, macroeconomics and econometrics at the undergraduate, graduate and doctoral levels. Widely published, she has twice won a Brattle Prize for articles on corporate finance in theJournal of Finance, and serves on the editorial boards of leading economic journals. The Michael and Diane Jones Professorship is awarded every five years to a faculty member whose work exemplifies the Simon mission. Pittsford, N.Y., residents Michael and Diane Jones made the $1.5 million gift in 2007. Michael Jones was C.E.O. and co-founder of Brighton, N.Y.–based Clover Capital Management, which was acquired by Pittsburgh-based Federated Investors Inc. at the close of the fourth quarter of 2008; he remains chief investment officer of Federated Clover Investment Advisors. A current University trustee, Jones graduated from the University in 1976 with a dual bachelor’s degree in biology and psychology. “This philanthropic gift from Michael and Diane Jones will help us to continue to attract and retain valuable members of our faculty, such as Toni Whited,” says Simon School Dean Mark Zupan. “The growing international reputation of our faculty will be a testament to Michael and Diane’s foresight and generosity.” SB
Hansen, Long and Shaffer Installed as Named Professors hree longtime faculty members at the Simon School were installed as the next holders of existing named Tprofessorships on April 30, 2009. Toni M. Whited Ronald W. Hansen has been appointed the William H. Meckling Professor of Business Administration. In addition, oni M. Whited, an expert in finance, macroeconomics he has been named senior associate dean for program and econometrics, has been named the first development as of July 1, 2009, and director of the Bradley TMichael and Diane Jones Professor of Business Policy Research Center. Hansen joined the Simon faculty in Administration at the Simon School. She joined the faculty 1971 from the University of Chicago, where he completed in July. his doctoral studies. He has served as director of the School’s Whited is the former Kuechenmeister-Bascom Professor Systems Analysis Program (1972–1973); associate director of at the Wisconsin School of Business at the University of the Center for Research in Government Policy and Business, Wisconsin, Madison. She earned a B.A. from the University now the Bradley Policy Research Center (1977–1986); associate dean for academic affairs (1988–1999); and senior
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 19 John B. Long Jr., Greg Shaffer and Ronald W. Hansen associate dean for faculty and research (1999–July 2009). Simon School’s Center for Pricing, a partnership with the Throughout his academic career at the University, Professional Pricing Society and in collaboration with Deloitte Hansen has been an innovative administrator, collaborating L.L.P. Shaffer’s research employs game-theoretic methods to with the Colleges of Arts and Sciences and of Engineering examine a range of pricing and regulatory issues. A widely and Applied Sciences to develop programs with the Simon published scholar, Shaffer is an area editor of Marketing School that allow students in these divisions to pursue Science, a co-editor of the Journal of Economics and Management business-related majors and earn a bachelor’s degree in Strategy and an associate editor of the Journal of Economics engineering and a master’s degree in five years. He is also a and Business. He has consulted on numerous projects and recognized scholar on the economics of the pharmaceutical antitrust cases in the United States and abroad, and served as a industry, and has instituted partnerships with academic and visiting scholar in the two U.S. government antitrust agencies: scientific institutions around the world. the Antitrust Division of the Department of Justice and the The professorship is endowed by contributions from Bureau of Economics at the Federal Trade Commission. Simon faculty, alumni and friends in memory of the late The Wesray Professorship was established by Raymond William H. Meckling, dean of the Simon School from 1964 G. Chambers, co-founder and former chairman of Wesray to 1983, who played a seminal leadership role in promoting Capital Corporation, a Morristown, N.J.–based investment the School’s rise to national prominence. firm. Chambers partnered with William E. Simon, the John B. Long Jr. has been appointed the Frontier School’s late benefactor and namesake, to establish Communications/Rochester Telephone Professor of Business Wesray Capital Corporation. A noted philanthropist and Administration. The professorship was established in 1986 humanitarian, Chambers is the founder of Malaria No More, through a gift from the Rochester Telephone Corporation. a nonprofit, nongovernmental organization aimed at ending Long, who joined the Simon School faculty in 1969, malaria deaths. In February 2008, the Secretary General of conducts research primarily in financial economics. His the United Nations appointed Chambers the first Special published article “Real Business Cycles,” jointly authored Envoy of the Secretary General for Malaria. with former Simon School Dean Charles I. Plosser, has “Collectively, these three faculty members have given been widely cited and reprinted since its publication in the over 90 years of dedicated service to the Simon School and Journal of Political Economy in 1983. Long, who earned have significantly contributed to its international success his B.A. degree in mathematics at Rice University and his and prominence,” says Dean Mark Zupan. “We deeply Ph.D. in industrial administration from Carnegie Mellon appreciate their long-term investment in the future of this University, is a past editor of the Journal of Financial great business school and are pleased to honor their positive Economics and a member of Beta Gamma Sigma. impact through these distinguished professorships.” SB Greg Shaffer has been named the Wesray Professor of Business Administration at the Simon School. Shaffer teaches the courses on pricing policies and is director of the
20 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Schmidt Installed as Willett Professor
Ronald M. Schmidt (center) with Joseph T. Willett ’75 (at left) and Janice M. Willett ’78.
onald M. Schmidt was recently installed as pay and performance and an investigation of the impact of the Janice M. and Joseph T. Willett Professor of contractual provisions on the performance of major-league RBusiness Administration for Teaching and Service. baseball players. He has served as a consultant to Eastman The professorship is named in honor of Janice Willett ’78, Kodak Company, Xerox Corporation, Bausch & Lomb, manuscript editor for The Boston Consulting Group and Schlegel Corporation, Croon Electrotechniek and several member of the University Board of Trustees and the Simon others. School Executive Advisory Committee, and her husband, He earned a B.A. and M.A. in economics at The Ohio Joseph ’75, a former chief financial officer of Merrill Lynch State University. SB and Co. and a retired chief operating officer of Merrill’s European region, who also serves on the Simon Executive Advisory Committee. The Willetts are longtime benefactors of the Simon School. Schmidt’s teaching areas include economics, statistics, marketing, organizations and corporate strategy. Schmidt, a longtime member of the Simon faculty, developed and chaired the Simon School’s Executive M.B.A. program at Erasmus University in the Netherlands. He is the recipient of numerous Superior Teaching Awards given by the full- time M.B.A. and Executive M.B.A. classes. Schmidt is a widely published scholar. His research topics include pricing, regulation and management compensation. Current research includes an examination of the relationship between C.E.O.
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 21 In Me m o r i a m : Pa u l J. Sc h w e i t z e r
The Simon School community is mourning the loss of longtime faculty member Paul J. Schweitzer, professor of operations research and computers and information systems.
“Paul had been one of the national pillars of operations research and management science and conducted research and teaching at the Simon School for over 30 years,” recalls colleague and friend Abraham (Avi) Seidmann, the Xerox Professor of Computers and Information Systems and Operations Management at the Simon School.
Professor Schweitzer had research interests in performance evaluation, and in control and capacity analysis of computers and manufacturing systems. Most recently, he focused on analysis of flexible manufacturing systems and on identification of physical and economic bottlenecks. An expert in stochastic control theory and aggregation theory, he taught in the general area of quantitative methods in business and was working on a book on numerical algorithms.
Professor Schweitzer invented approximate mean value analysis, a widely used methodology for performance evaluation of computer and manufacturing systems. He previously conducted systems analysis for the Office of the Secretary of Defense and telecommunications analysis for the I.B.M. computer science research division. Professor Schweitzer was an associate editor for three journals, and a reviewer for 45 journals and academic institutions. His numerous research papers appeared in such leading journals as Management Science, Operations Research and Operations Research Letters. He earned a B.S. in physics and mathematics and an Sc.D. in physics and operations research from Massachusetts Institute of Technology.
Professor Schweitzer is survived by his children, Tzvia, Seth and Yoni Schweitzer. SB
22 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester “I will forever be grateful to the alumni and supporters of Simon who have opened up many doors for me and made my goals that much easier to achieve.” KrisTin osmundsen ’09S (MBA) Finance and Public Accounting
While her decision to attend the Simon Graduate School of Business was guided by many factors, such as the wel- coming environment, the top-notch faculty and curriculum, and the great diversity of the student body, Kristin was heavily influenced by the scholarship she received. This scholarship relieved her of the financial burden of busi- ness school, allowing her to concentrate on advancing her business education not only from a classroom perspective, but also from a social and cultural standpoint through interaction with her peers who have come from varied backgrounds.
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2008045_UR_Simon_Business-Fall_2009.indd 1 9/10/09 3:12 PM
Client: University of Rochester Annual Funds Job: Simon School Magazine Ad Size: 8-1/2 x 11 + 1/8 bleed Page: 1 of 1 Inks: CMYK Modified: September 10, 2009 Simon Graduates Foil the Great Recession
—by Kathryn Quinn Thomas
conomists define a recession as two quarters or more of negative real economic growth. A depression is more severe, with abnormal increases in unemployment, restricted E credit, shrinking output and investment, numerous bankruptcies and reduced trade and commerce. A wise old man (related to this writer) once said, “A recession is when your neighbor loses his job. A depression is when you lose yours.” While it looks as though we’ve managed to fend off a definitive depression this year—some economists say the odds are less than 50-50 we could end up there—there have been days when many of us have felt another Great Depression to be a distinct possibility. Whether you have been downsized or are doing the downsizing, whether you’ve delayed your retirement or hidden your business’ growth plans in a bottom drawer, you know what that wise old man was talking about.
24 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester or those of us who are not financial Five Simon alumni give their experts, it seems this year’s fiscal crisis perspectives on the financial crisis F came on suddenly, as the bad-news and the outlook for the U.S. economy dominos fell one by one last fall. The New York Times’ interactive feature, “10 Weeks of Rufus Judson ’06* Financial Turmoil,” outlines the concentrated The commercial construction industry, with combined annual revenues decline beginning on September 7, 2008, with near $465 billion, is counter-cyclical. the bailout of Fannie Mae and Freddie Mac As an example, while residential and culminating later that year on November construction shrank 27 percent in 2008, the non-residential side grew by 18 with the auto companies pleading for 10 percent. Thus, the Pike Company, federal help. a general contracting and construction management firm, actually had a But the crisis was in the making years good 2008 and first half of 2009, before that, says Cathy Jones Minehan “In 2009, 2010 and says Rufus Judson ’06,* executive maybe 2011, we will vice president of the 136-year-old B.S. ’68, former president and C.E.O. of the have tougher times in the Rochester, N.Y.-based firm. construction industry.” Federal Reserve Bank of Boston. Minehan is But a downturn has come. “In now managing director of Arlington Advisory 2009, 2010 and maybe 2011, we will have tougher times in the construction industry,” Judson says. Partners L.L.C. Pike is prepared. The company is diversified in K–12 education, “What we saw in the fall of ’08 was the university, health care, retail, power, industrial and civil market segments of the industry throughout the Northeast. Some of Pike’s meltdown of a process that had begun much more well-known projects include buildings for the University earlier and began to heat up in August 2007,” of Rochester, Rochester Institute of Technology, Yale University, Minehan says. “People were beginning to Cornell University, Roberts Wesleyan College, the Upstate Correctional Facility, Highland Hospital and the Ford Street Bridge. question the underlying assumption that This past year’s investment losses and lack of credit have housing prices never go down.” caused many private companies and institutions to rethink their construction plans for the next couple of years. “The demand is The popping of the housing bubble there,” Judson says. “But the hit to their endowments and/or cost of precipitated the dire 10-week period. For years, money is causing them to play defense.” consumers and financial institutions alike The federal stimulus plans could help offset some of that decline. While the private clients will continue to be wary, public were willing to leverage themselves more and agencies and various institutions have begun using federal help to more heavily to invest in the housing market, build their projects. “In 2008, about 75 percent of our work was for private considered a solid engine for financial growth. institutions,” Judson says. “By the end of this year, it will have In fact, highly leveraged finance became the skewed toward public.” rule, not the exception. Meanwhile, the company will continue to plug away at what it does best for its clients, he says. In particular, Pike will continue to By 2007, largely unregulated new grow its reputation for “green,” or sustainable, construction projects. investment vehicles such as credit default “We are constantly thinking about better ways to execute our strategy,” Judson says. “We have excellent projects and will swaps and other derivative instruments became continue to strive to be the contractor of choice by delighting our the norm. The idea was that the underlying customers and assuring their success, every time.” SB
*Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 25 David Khani ’93 markets—residential and commercial real estate and corporate loans, for example— FBR Capital Markets felt the would not falter substantially. This certainly bursting of the housing bubble sooner than most financial institutions. created the basis for continued and growing “We lived through our mortgage leverage, and it encouraged risk taking in, debacle two years ago,” says David Khani ’93, director of research and among other things, subprime mortgages. senior managing director for FBR. “We had a subprime portfolio and began imon School Dean Mark Zupan calls the to see problems. So we felt the pain earlier than most.” crisis a vivid example of Michael C. Jensen “Look for mutual funds The result is that FBR, an and William H. Meckling’s concept that invest in ‘blue-chip’ Arlington, Va.-based investment S names.” bank, is now a much leaner, debt-free of agency theory. The theory predicts that company. owners who hire agents to manage their firms “Right now we feel that in this tough environment, we or money will achieve superior results if the are in a much better position,” Khani says. “Our expense reductions over the last several quarters have dramatically agents’ own larger personal stakes are in the improved our ability to return to profitability in advance of a outcome of the venture. full recovery in banking revenue.” The firm also has been able to hire many of the best “Lending institutions wrote subprime financial experts who were working for other, less solid mortgage loans requiring no down payments. companies. “The changes to our competitive landscape have created a unique opportunity to attract talented producers who Housing speculators with no skin in the game can have a meaningful, positive impact on our business,” Khani bet on increasing housing prices, unconcerned says. with defaulting on loans,” Zupan says. FBR Capital Markets’ equity analysts cover approximately 450 companies, focusing their expertise on seven vertical “Mortgage brokers received commissions for industry sectors—consumer, diversified industrials, energy and writing mortgages to unworthy borrowers. natural resources, financial institutions, insurance, real estate and technology, and media and telecom. Khani received The Some financial institutions converted these Wall Street Journal’s “Best on the Street” award in the mining risky mortgage loans into securities with no and metals sector in 2005. intention of retaining ownership.” Because FBR saw the signs of the crisis earlier than did many financial institutions, Khani was able to ward off any As the number of foreclosures increased, major personal losses. “The good news is that I told my family the larger financial institutions began to see to go to cash,” he says. “And I’ve been sitting on cash for awhile.” the downside of their risk taking. Lehman Khani advises investors to reposition their holdings to Brothers filed for bankruptcy, Merrill Lynch the best companies they can find. “Look for mutual funds that was acquired by Bank of America, A.I.G. was invest in ‘blue-chip’ names,” he says. “Look for businesses with products that are needed and are solid business models.” struggling and Fannie Mae and Freddie Mac The current financial situation will be with us for one were in a fiscal mess. The markets panicked. to two more years—“or possibly longer,” Khani says. “The banking system is not fixed, and it is still sitting with toxic “Within a matter of days, everything came to a assets. The whole lending environment remains up in dead halt,” Minehan says. the air.” SB According to Minehan, it has been a
26 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester unique recession. “Over my 25 to 30 years Francis Price ’75 as a central banker, I’ve seen financial crises We’ve all seen the film footage of come and go. But this one came and stayed,” car company bigwigs asking the Fed she notes. for emergency cash: The automotive There are big differences between this industry has been one of those most visibly hit by this year’s financial crisis and the Great Depression, particularly crisis. Francis Price ’75 and his in the speed and intensity of government employees have felt it firsthand. Price is president and C.E.O. response to the crisis, Minehan says. Unlike of Q3 Industries Inc., based in the 30’s, the Fed knew this time it had to move Columbus, Ohio. Q3 produces and interest rates quickly to stave off a deeper “When you run into supplies engineered metal and plastic hardship, you can fold up products, primarily for heavy-truck crisis. The Bush Administration, too, saw the your tent, or simply go and car manufacturers. “This has back to that first business been the worst time that anyone can depths of the problem and passed the financial principle: What do we do imagine,” he says. “It’s been very, very best?” rescue bill (known as T.A.R.P.) and intervened tough.” The downturn for Q3 began to save A.I.G., Freddie Mac and Fannie Mae. in early 2008, when a couple of large automotive clients moved their manufacturing facilities offshore. Competition for the The government extended a guarantee to all business that remained in this country became even keener. bank deposits and to money market mutual “I think that was a bellwether of what was to come,” Price funds. Acting together, the Fed, the Treasury, says. “But the auto industry’s over-capacity, high gas prices and the tightening credit market just added to the downward the F.D.I.C. and others worked hard to prevent spiral.” a repeat of the Great Depression. The downward spiral has led to billions of dollars in bailouts for General Motors and Chrysler, job losses and pay cuts and, eventually, the forced bankruptcy of Chrysler and nd, although jobs continue to disappear, GM. the unemployment problem related to Although Price believes the domestic auto industry will survive this recession, it will look quite different. “It will be A the size of the labor force is much lower viable, but much smaller,” he says. Of course, for Q3, “it all than in the 1930’s. During the Depression, leads to the same thing: We have to be competitive, reduce costs and move into other industries.” the jobless rate hit 25 percent and remained Q3 plans to use its expertise and equipment to service there for years. In the 1980’s, the last time other industries—for example, the company is now using its we worried about a depression, the rate was plastic injection tools, designed for the auto industry, to build military toolboxes. The problem, though, is that previous 10 percent. The current unemployment rate, clients needed Q3’s high-volume capacity, but most new clients which hovers around 9 percent, will likely need less capacity, meaning more frequent retooling and higher costs. continue to rise even after the economy begins “But the bottom line is finding customers,” Price says. growing again, Minehan notes. “When you run into hardship, you can fold up your tent, or Jobs will be a problem until late 2010, simply go back to that first business principle: What do we do best?” SB she says, before we can expect any real improvement. “But it is hard to imagine us hitting 25 percent,” she says.
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 27 Kevin Wilmot ’00 Alan Zekelman, M.S. ’87
Kevin Wilmot ’00, vice president for finance,Wilmorite Since 1984, hollow structural Inc., has some terse advice for anyone interested in steel tubing—the steel equivalent today’s commercial real estate market: “Bring a lot of of lumber—has made Atlas Tube equity to the table.” Inc. a successful business. But this Wilmorite is a Rochester-based commercial real past year has brought unexpected estate firm, that owns and manages three enclosed challenges, says board member malls and two open-air strip centers, and has developed Alan Zekelman, M.S. ’87. more than 30 million square feet of retail, office, hotel, “Certainly there have been apartment and convention space. downturns, but there is no Wilmot works directly with various banks, investors question that this year has been and other lending institutions to obtain financing for new “Certainly there have been uncharted territory,” he says. “I projects, as well as refinancing existing loans. downturns, but there is no have never seen anything like “The whole real estate industry—home and question that this year has this in my over 20 years in the commercial—is a leveraged business,” Wilmot says. been uncharted territory.” business.” “Without access to credit markets, new and existing Atlas Tube was founded in projects come to a screeching halt.” Ontario, Canada, by Zekelman’s father, who passed it on to Commercial properties are his family in 1986. The company manufactures steel tubing “Oftentimes, it isn’t particularly vulnerable right for a variety of industrial and aesthetic uses. The tubing has that the property isn’t successful with good now, because they require been used in a striking doorway to the Rock and Roll Hall cash flow. It’s more of a bigger lines of credit from of Fame in Cleveland, Ohio; the Apollo/Saturn V Visitor case that large-dollar- banks—and banks are holding Center at the Kennedy Space Center in Orlando, Fla.; the amount loans are just not on to their reserves. Without Sky Dome in Toronto, Canada; and the Big Dig in Boston, available.” the financing, the commercial Mass. clients go under. The company was purchased by the Carlyle Group “As existing loans mature, there is nowhere to go and now has four manufacturing facilities throughout to refinance,” Wilmot says. “Oftentimes, it isn’t that the Canada and the United States, producing more than 1.2 property isn’t successful with good cash flow. It’s more million tons of steel tubing each year. of a case that large-dollar-amount loans are just not When Zekelman and his brothers inherited Atlas Tube, available.” they made customized orders with quick turnaround a Valuation has become a serious problem for real hallmark of the business—allowing the company to compete estate companies. During the bubble, properties had in a tough market. The company continues to own a growing extremely high values, making it easier to find financing. portion of the market for steel tubing, but the market itself Now, with properties worth much less on paper than has contracted during this downturn, Zekelman says. they should be, “the valuation pendulum has swung He began to see some softening in the market in the too far the other way,” Wilmot says. Overleveraged and third quarter of 2008. underperforming commercial properties will continue to “We didn’t imagine it would get this bad,” Zekelman fall from bankruptcy. says. “Prices are down. Volume is down. Employment Wilmorite has been involved in commercial is unfortunately going in a downward direction as well. real estate since the 1950’s and has withstood other Defaults on receivables are an increasing concern and downturns, Wilmot notes. “We are feeling the downside payment terms are being often exceeded. But we’re far like everyone else, but are still investing in our properties from being dead yet.” for the future,” he says. “It’s the overleveraged companies The company has had to lay off some staffers and that are worried.” SB shorten the work week for existing employees. There was no Christmas bonus last year, although the company offered a special loan program for employees to help them get through the downturn, Zekelman notes. “We wanted to boost morale,” he says. SB
28 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester (From left): Michael S. Rosen, B.S. ’82, M.B.A. ’83; Clifford W. Smith Jr.; Michael Ryan, B.S. ’81, M.B.A. ’84; and Cathy Jones Minehan, B.S. ’68 at an October 2008 panel discussion during Meliora Weekend.
long with many economists, Minehan predicts Since November, virtually every industry and that the crisis will begin to bottom out by the every family has been affected by the fall crash. While A end of this year. That doesn’t mean a quick we wait to hit bottom and start looking up, we will bounce back, though. “Things will begin to become less continue to struggle with our businesses, our careers negative before they become positive,” she says. and our families. SB
InnovatUR Scholarships
As an investment in the power and promise of human capital Over the next two years, up to 50 scholarships will be offered and the ideas that flow from bright and talented individuals, the annually to prospective students pursuing a full-time M.B.A. degree Simon School is offering graduate business degrees with special at the Simon School. The partial- to full-tuition scholarships will be scholarship support for U.S. citizens and permanent residents based on academic merit and financial need. adversely affected by the current economic downturn. Scholarship recipients must meet standard Simon admissions Starting with the January 2009 cohort, the “InnovatUR” requirements and complete an essay explaining why they should be scholarships allow individuals to pursue M.B.A. studies at Simon. selected for the award. The standard admissions interviews will be “Much like savvy investors such as Warren Buffett know that now conducted both at Simon and on-site in select cities around the world. is the time to buy financial assets, the Simon School realizes For further information, contact Gregory V. MacDonald, executive that now is the time for leading business schools to take ‘equity director of admissions and administration, at (585) 275-3533, e-mail stakes,’ through scholarship support, in top prospective students,” [email protected]. says Dean Mark Zupan.
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 29 Educating the Public he fiscal crisis of the last year and a half has been both baffling and frightening. We watched in real time as the T world’s financial institutions imploded under the weight of their risky investments, and we stood by helplessly as the markets—and our investments—hit freefall. As the story continued to unfold, the Simon School’s world-class, award-winning scholars offered to educate the public on the details of the crisis and how to ride it out. In the same year that the Financial Times of London rated the School as second in the world for finance and fifth in the world for managerial economics, Simon faculty have been reaching out, pro bono, to instruct the public on what has been occurring in an extensive program of panel discussions in Rochester and around the nation for alumni and the general public, opinion pieces in the press and media interviews. It began in October 2008 during Meliora Weekend, with a panel discussion—Market Volatility: What Lies G. William Schwert, Distinguished University Professor and Simon professor of Ahead—for University alumni. With the then recent finance and statistics, on stock market volatility at a January 29, 2009, alumni Lehman Brothers’ bankruptcy filing, Merrill Lynch’s gathering held at NASDAQ in New York City.
(From left): Daniel J. Burnside ’01, Ronald H. Fielding ’76, G. William Schwert, Clifford W. Smith Jr., Toni M. Whited and Dean Mark Zupan at the November 2008 Geva event.
30 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester acquisition by Bank of America and A.I.G.’s solvency market volatility; Toni Whited, the concerns, coupled with the down market, it was clearly a Michael and Diane Jones Professor timely topic—the large Gleason lecture hall was packed, of Business Administration, an expert in while overflow visitors watched the event remotely. finance, macroeconomics and econometrics; Panelists included Clifford W. Smith Jr., the Louise and Daniel J. Burnside ’01, director of quantitative Henry Epstein Professor of Business Administration research at Clover Capital Management and and professor of finance and economics at the Simon an adjunct lecturer in finance at Simon; Ronald School, along with alumni Michael Ryan, B.S. ’81, H. Fielding ’76, senior vice president at M.B.A. ’84, head of wealth management investment OppenheimerFunds; and Clifford W. strategy and research group, UBS Financial Services Smith Jr., the Louise and Henry Epstein Inc.; Cathy Jones Minehan ’68, retired president of the Professor of Business Administration Federal Reserve Bank of Boston; and Michael S. Rosen, and professor of finance and economics B.S. ’82, M.B.A. ’83, chairman of Context Capital at Simon. Management L.L.C. The panel’s investment advice ranged from don’t panic and stay the he discussion was free flowing, with all agreeing that course, keep your portfolio diversified the bursting of the housing bubble was going to have and buy municipal bonds, to tune out any alarmist media T far-reaching implications on the economy. One of the coverage of the crisis and do some solid research on Fed’s responsibilities is to help prevent such fiscal crises, investments. Most agreed it will likely be in the fourth a responsibility the organization mismanaged, Minehan quarter of 2009 or into 2010 before we see any serious said. Ryan spoke presciently of the potential of panic to improvement in the market. contribute to a continuing downward spiral, while Rosen In January, Schwert took his market volatility lecture warned of the negative effects of tight lending on businesses. on the road to an event at NASDAQ in New York City for Smith excoriated politicians for the October bailout. a group of alumni and friends. Earlier in September, Jerold The success of the Meliora Weekend event made it clear L. Zimmerman, Ronald L. Bittner Professor of Business to all who participated that the public was clamoring for Administration and professor of accounting, spoke to more fiscal information. At the suggestion of Dennis Kessler, another New York City group on one of his research areas, the Edward J. and Agnes V. Ackley Executive Professor of executive compensation. Entrepreneurship, Simon hosted another panel, “Weathering Meanwhile, Simon School Dean Mark Zupan; Thomas the Economic Climate,” in early November at the Geva H. Jackson, Distinguished University Professor and Theatre Center. Co-sponsored by Geva, Rochester Business president emeritus; Smith; and Burnside were guests on a Journal and the Rochester Business Alliance, this panel number of local radio shows, where they were asked their was another standing-room-only event. Appproximately opinions on various economic 500 people—alumni and community members—packed issues. Geva’s main stage to listen to Simon scholars, including: G. The country was facing the William Schwert, Distinguished University Professor and potential collapse of the auto Simon professor of finance and statistics, an expert in stock industry—and the audience for
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 31 the November event at Geva wanted more education. So, why it could serve to in February, Geva Theatre and Rochester Business Journal help strengthen the cosponsored a second public forum, “Major Bankruptcies and industry. Tabas spoke Their Impact on the Economy.” Once again, the venue was of the transparency and crowded as community members listened to a slate of Simon restructuring that could result experts, including Smith and Jackson; James A. Brickley, after a bankruptcy, and Smith talked about Gleason Professor of Business Administration and professor the risk inherent in the government bailing of economics and management and of finance; Charles out an industry. Hughes ’70, founder, Brand Rules L.L.C., and past C.E.O. Another public forum on health care of Land Rover North America and Mazda; and Joel Tabas policy reform was held this fall. As Zupan ’80, partner, Tabas, Freedman, Soloff & Miller, P.A. has said, “Even during this financial The discussion focused on auto industry bankruptcy predicament, there are many versus government bailout. Discussion was lively as the things working in our favor. free market economists and manufacturing expert debated Our entrepreneurs, whether in the issue. Brickley explained why it made sense for the manufacturing, finance or other government to bail out the financial sector, likening it to sectors, will ultimately carry the heart and lungs of the economy, a role not true for the the day—and our economy with auto industry. As a nationally known expert in the auto it—as they have through so many industry, Hughes argued for the bailout. Jackson, a legal previously challenging economic scholar, outlined the facts and history of Chapter 11 and times.” SB
(From left): Clifford W. Smith Jr., Epstein Professor of Business Administration and professor of finance and economics; Thomas H. Jackson, Distinguished University Professor and president emeritus; James A. Brickley, Gleason Professor of Business Administration and professor of economics and management and of finance at Simon; Charles Hughes ’70; and Joel Tabas ’80 during the February 2009 Geva event.
32 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester AlumniNews
A Note from Admissions Share Your News! he Simon School continues to ’96, Sanjay Kapoor ’91 and Mukul To submit a class note, send an e-mail grow the Alumni Interviewing Kasliwal ’88. to the Simon School Advancement initiative, increasing the level Office in care of Kelly Rains at T [email protected] of personalization in the admissions Simon On-Campus Interviews— or to your Class Correspondent: process. With the help of over 100 Michael Burkeen ’98, Ashley alumni across the world, more than Churder ’08, Katie Dudek ’05, Class of 1982 500 applicants were interviewed Salim Holder ’07, Alen Kreso ’07, Sameer Shah in Beijing and Shanghai, China; Terrence Liverpool ’08, Malati Patil [email protected] Bangalore, Mumbai and New Delhi, ’08, Kristin Short ’02, Deborah Class of 1983 India; Tokyo, Japan; on campus at the Soffin ’01, J. C. Stevens ’98 and Kelly Ellen Stevens Simon School; and by telephone. The Stone ’03. [email protected] Simon Admissions Office would like to Class of 1988 Phone Interviews—Pressigny Alcindor recognize all of the outstanding alumni Jeff Durbin for their extraordinary contributions to ’05, Eric Allen ’08, Janet Anderson [email protected] this initiative: ’90, Saswata Banerjee ’06, Luis Barahona ’02, Sean Bodkin ’08, Class of 1992 Eric Suitos Roxanna Brown ’97, Sean Carroll Shanghai, China—Haiyan (Helen) [email protected] Chen ’06, Federico Kalnicki ’04, ’02, Aarthi Chandrasekaran ’08, Class of 1995 Chris Lord ’79, Zhuang Qiang Jie Chen ’00, Michael Cirami ’03, Michael Curtis ’03, David Daniel Hakan Akbas (Bobby) Ma ’03, Deiter Pfeifer [email protected] ’02, Kiichiro Takanami ’02, Robert ’07, Christian Domeny ’07, Rachel Tracy ’01, Denisha Trouard ’02, Lei Freundschuh ’08, Adam Frisicaro Philipos Minaidis (Larry) Xu ’94, Kim Xu ’02, Gerald ’05, Syarifa Galeb ’00, Kyle Grider [email protected] Yang ’04, YuFang Yang ’01 and ’03, Aarti Gumaledar ’08, Raghu Nikolaos Veraros Jinling Zhang ’01. Gupta ’08, Bridget Heinsler ’08, [email protected] Mauricio Hirai ’00, Paul Hurley ’03, Class of 1996 Chris Johnston ’06, Jeff Joss ’08, Beijing, China—Michael Chen ’02, Aditya Kapoor Jigang Li ’06, Zhiyong (Bill) Li ’04, Aditya Kapoor ’08, Aaron Kibbey [email protected] I-Hui (Janice) Lin ’08, Julie Luo ’07, ’00, Lesley Krewatch ’02, Scott Markowitz ’02, Ashish Mendiratta Class of 1999 Gang Men ’05, John Trescot ’88, Sarah Plasky-Sachdev* ’06, Alex Okounev ’06, James Osborn Qinyu (Danzel) Yang ’08, Ming Ye [email protected] ’02 and Angang Zhang ’07. ’07, Lydia Perez ’06, Shaffiq Rahim ’07, Jai Ramachandran ’08, Matthew Class of 2000 Rice ’06, Sarah Ryan ’02, Marya Mauricio Hirai Tokyo, Japan—Aaron Chan ’02, [email protected] Kenta Jinno ’08, Tetsufumi Miyake Savola ’99, Christopher Seitz ’04, ’07, Takami Miyamori ’08, Makiko Tim Shanley ’08, Merrell Stout ’04, Class of 2002 Douglas J. Witter Murashima ’05, Markus Portmann Ven Swaminathan ’00, Silvia Torres [email protected] ’97, Kenji Shundo ’06, Jinya Suzuji ’08, Ashish Varshneya ’08, Augusto ’08, Jon Wondrack ’01 and Tamotsu Weygang ’02 and Nisha Yadav ’05. Class of 2004 Yaita ’96. A special thanks to Tetsu Karen Sweet I would like to express what a distinct and Shinsei Bank for hosting the event. [email protected] pleasure it has been to work with every Class of 2005 one of you. I look forward to working Bangalore, India—Rupal Majmudar Rameet Kohli with you again, and encourage our ’07 and Samuel Thomas ’71. [email protected] alumni readers to consider participating next year. If you would like to become Class of 2006 Mumbai, India—Arun Malhotra ’03, Chris Johnston an alumni interviewer, please contact Ashish Malik ’94, Ashish Merchant [email protected] ’00, Bhanu Muddagowni ’07, Jairam me. Class of 2008 Nathan ’98, Shrirang Sarda ’96 and Sincerely, Chris Adams Nihar Shah ’03. Crisandra Harrison [email protected] Alumni Interview Coordinator Christine Stoelting New Delhi, India—Ankita Dabas ’08, [email protected] [email protected] Rajiv Dewan ’87, Aditya Kapoor *Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 33 AlumniNews
Alumni Gatherings
Seoul—Rameet Kohli ’05 and his wife held a small gathering of Simon alumni during a trip to Seoul in fall 2008. (Pictured, from left): J. J. Oh ’05, Anne Park ’05, Jun Park ’05, Sven Jensen ’05, Kisung Hong ’05, Kohli and P. J. Lee ’06.
Seattle—Reception with Dean Mark Zupan hosted by Executive Advisory Committee member Joe Honick and his wife, Deirdre, on November 11, 2008. (Pictured, from left): Washington, D.C.—“Globalization: The Good, the Bad, the Ugly and the Greg West ’01, Jay Park ’06, Opportunity of a Lifetime” presentation by Donald (Skip) Conover ’79* on the Honicks, Vivian Wang September 9, 2008. ’04, Eugene O’Brien ’06 and Zupan. China— Professor Larry Matteson and Daniel Ng ’89 at an alumni event in Beijing, China in March 2009.
New York City—“Leveraging Your Future: Trends and Research in Executive Compensation” presentation by Jerold Zimmerman, the Ronald L. Bittner Professor of Business Administration and professor of accounting, on September 25, 2008. (Pictured, from left): Zimmerman, Shira Kupperman, Adam Boehler and Claudia Sweet ’98.*
Atlanta—Area alumni and students networked during the National Society of Hispanic M.B.A. conference on October 10, 2008. (Pictured, from left): Marty Gupta ’82 and Wagner Dasilva ’09. *Executive M.B.A. graduate
34 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Washington, D.C.—Lunch with Dean Mark Zupan hosted by Executive Advisory Committee member Marty Stern ’80, partner, K&L Gates, on November 5, 2008. (Pictured, from left): Carlos Barrionuevo ’95, Zupan, Robert Parker ’83, Rhonda Holmes ’85, Holly Clark Blanchard ’99, Stern ’80, Jon Wagner ’96, Glenn Boyce ’96, Stan Voudrie ’01 and Bogdan Lazaroae ’98.
Boston—“Defining Executive Talent: Why Do Some Executives Perform More Effectively?” presentation by Ronald M. Schmidt, the Janice M. and Joseph T. Willett Professor of Business Administration for Teaching and Service, on January 22, 2009. (Pictured at left, from left): Schmidt and Dion Chay ‘98. (Pictured at right, from left): Charles Purtell ’93, Frank Lallos ‘93, Chris Seitz ’04 and Steven Mortimer ’97.
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 35 AlumniNews
Alumni Gatherings
New York City—29th Annual New York Recruiting Program Special Market Volatility Lecture by G. William Schwert, Distinguished University Professor and professor of finance and statistics, and Cocktail Reception with Dean Mark Zupan on January 29, 2009 at NASDAQ. (Pictured, from left): Zupan and Dennis Pidherny ’87. (Pictured below, from left): Eric Grasinger and Shelley Gnall ’03.
San Francisco—Reception with Dean Mark Zupan hosted by Executive Advisory Committee member Joe Abrams ’74 and his wife, Pat, on November 12, 2008. (Pictured, from left, back row): Abrams, Zupan, Rameet Kohli ’05, Patrick Hoglund ’99, Anju Pansari ’05, Rachel Freundschuh ’08, Sharon Markowitz ’04, S. Ron Butler ’03, Uday Nayar ’08, Nate Buchanan ’08 and Gerard Keena ‘01. (Front row): Nina Qualls ’04, Samantha Fraguas Seixas ‘01 and Scott Stewart ’06.
36 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester In Memoriam Robert Thomas Burns, B.S. ’59 December 26, 2007 Kendall Brooks Castle, B.S. ’60 August 2, 2007 Leonard L. Ciufo, B.S. ’64 October 29, 2008 Gerald Wilson Corprew ’81 February 9, 2008 Ronald D. Davis ’99 September 18, 2008 Nicholas J. Dunkirk, B.A. ’89, M.B.A. ’88 July 6, 2008 John W. Fink, B.S. ’60 August 27, 2008 Robert Francis Freemesser, B.S. ’63 May 23, 2008 Arthur David Fried, B.S. ’65 SEEKING ALL BAY AREA SIMON ALUMNI December 27, 2006 Join the 300+ fellow alumni and re-connect Kenneth Douglas Gartell ’92 with the Simon Bay Area network. October 24, 2008 Ben Martin Goldbaum, B.A. ’79, M.B.A. ’81 August 24, 2008 • We have re-established the Simon Bay Area Network with a Gordon Robert Gulick, B.S. ’61 team of volunteer alumni who are planning future activities. November 12, 2008 • Stay connected! Make sure your contact information is current Edmund Bertell King, B.S. ’64 in the alumni database. December 12, 2007 Daniel C. Miller, B.S. ’59 For more information, go to the regional link, January 11, 2009 http://www.simon.rochester.edu/alumni/regional-alumni-networks/ David S. Perkins ’96 July 3, 2007 bay-area/index.aspx Michael Piotrowski ’85 December 8, 2007 or contact Sharon Markowitz ‘04, Pieter Punt ’65 [email protected] October 14, 2007 Robert H. Robbins, B.S. ’65 January 22, 2008 Robert J. Schaffner, ’90N Mas., M.B.A. ’92 To: Simon Alumni Community February 3, 2008 From: Sarah Plasky and Terry Newcomb Clifford Arnold Sertl, B.S. ’52, M.S. ’60 September 8, 2008 Co-Chairs of the Alumni Council William Shayder, B.S. ’68 June 18, 2008 Seeking bright, talented alumni with a can-do attitude to join fellow Gabriel P. Sparagana, B.A. ’54, M.B.A. ’69 graduates on the Simon Alumni Council. October 25, 2007 Come and share your insight and expertise to help the Paul C. Stump ’95 Simon School live up to the University motto, Meliora, or December 28, 2007 “Ever Better.” Barbara Ann Teer, ’94 HNR July 21, 2008 Nominations are now being accepted. To nominate Weiyang James Wang, M.S. ’91, M.S. ’96 yourself or a fellow Simon alum or to obtain more information about January 30, 2007 the Alumni Council, contact Holli Budd, associate dean for M.B.A. Sidney T. Weinstein ’80 administration and external relations, at May 24, 2007 [email protected] or (585) 275-5660. Christopher E. Wheeler ’00 January 8, 2009 Together, we can work to achieve the goals of the Strategic Plan Joseph W. Wojtczak, B.S. ’63 for the Simon School! December 31, 2008
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 37 Alumni Council Under New Leadership
During the fall Alumni Council meeting co-chair, Sarah Plasky-Sachdev ’99,* former director of digital and innovation marketing at Xerox Global Services and current co-chair of the Simon Alumni Council who has started her own consulting business as Digital C.M.O. at www.digitalcmo.com, welcomed incoming co-chair Terry Newcomb ’72, partner at J. C. Jones & Associates L.L.C. During the fall meeting, Plasky-Sachdev recognized outgoing co-chair Timothy Smith ’88, who works at Croop-LaFrance, for his significant contributions to the Alumni Council and his dedication to the School.
Simon Alumni Council** John Adams ’86 Eric Magnuson ’02 Janet Anderson ’90 Neil Mairs ’84 Mergers Nicholas Angle ’90 L. J. Marciano ’97 Acquisitions Diane Austin ’85 Paul McAfee ’95* Carlos Barrionuevo ’95 Michael McCourt ’93 & Charles Bellavia ’73 Maura McGinnity ’96* Doug Bennett ’06 Brian Meath ’89 1989 Sean Bodkin ’08 David Melroy ’96 Edmund L. Luzine Jr. and Heinz Braegger ’06* David Miller ’83 his wife, Suzette, welcomed Michael Burkeen ’98 Mark Mozeson ’85 the arrival of their daughter, Ebrahim Busheri ’88 Douglas Neff ’96 Veronica Pilar, on January 8, Steven C. Bussey ’93 Terry Newcomb ’72, Co-Chair 2008. Edmund is president and Sean Carroll ’02 Peter Palermo III ’96* C.E.O. at Adirondack Capital Paul Caseiras ’90 Kevin Pickhardt ’90* Management. He and his Daniel Chai ’98 Jake Pierson ’03 family live in Reston, Va. Aaron Chan ’02 Sarah Plasky-Sachdev ’99,* December 12, 2008. He and José Chan ’03 Co-Chair 1991 his family live in Chelmsford, Helen Chen ’06 Angelo Ponticello ’97 Bill Eva and his wife, Angie Mass. Clive Daunton ’95 Judy Pribe ’92* Mathieson, welcomed the Lorena DeLancey ’07* Maurice Raichelson ’04 arrival of their twins, Eleanor Robert Dorr ’97 Rita Ratcliffe ’88* and Isabel, on December 1994 Carol Duquette ’03* Thomas Richardson ’03* Suzanne Bystrak and her Wendy Eber-Morris ’95 Ebon Robinson ’01 husband, Graeme Millar ’94, Denise Fitzgerald ’02* Jane Todd Ross ’85 welcomed the arrival of their Sean Flaherty ’06* Sarah Ryan ’02 Derek Foster ’05 James Schwartz ’88* daughter, Alyssa, in May 2008. Syarifa Galeb ’00 Jeremy Seligman ’84 Suzanne is communications Scott Gordon ’85 Jason Sherron ’98 Mark Greenstein ’94 Shannon Silsby ’98 Stephanie Hogue ’04 Timothy Smith ’88 Glenn Jackling ’97* Lynn Siverd Sullivan ’91 Peter Jones ’82 Ken Syme ’06* 17, 2007. Bill is president at Federico Kalnicki ’04 Anthony Tanner ’90 Canoak Flooring Ltd. He and Mary Kellmanson ’94 James Thielen ’89* his family live in Winnipeg, Asif Khan ’01 Ian Turvill ’97 Manitoba. Larry Kleehammer ’94 Bobby Uy ’03* Zdenek Kratky ’00 Kate Washington ’04* 1993 Frank Lallos ’93 Josh Weinstein ’01 Frank Lallos and his wife, manager at Bosch Security Peter Lallos Jr. ’90 Tim Wilmot ’05 Lisa Bastiani, welcomed the Systems. She and her family Geoffrey Laughlin ’98 Carol Wright ’02* arrival of their daughter, live in Penfield, N.Y. Michele Lawrence ’94 Matt Yazici ’94 Melanie Yi, who was born on Gregg Lederman ’00 Anne Zybowski ’97 March 22, 2008, and joined Kristine Lemke ’88 their family—including Peter Lijewski ’93 Ex Officio: big brother, Matthew—on Shih-Wen Lin ’94 Holli Budd Qihong Lou Mark Zupan Ed Luzine Jr. ’89 *Executive M.B.A. graduate
38 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester
** Information accurate as of July 1, 2009. 1995 Management Ventures Inc. 2001 Brillhart ’04, welcomed Nikolaos Veraros and his She and her family live in Peter Chang and his wife, the arrival of their daughter, wife, Dr. Evangelia Kasimati, Waltham, Mass. Nicole Tran, welcomed the Alexa Gabriela, in June 2008. welcomed the arrival of arrival of their son, Jarren their daughter, Fotini, on 1998 Davis, on April 30, 2008. G. Zachary Orlov and Peter is a manager in U.S. his wife, Menekse Alpay, welcomed the arrival of their son, Jonas Emre, on June 11, 2008. Zachary is the owner
Kevin is an associate in equity reimbursement at Edwards capital markets at Wachovia Lifesciences. He and his Securities. Gabriela is vice September 12, 2008. Nikolaos family live in Huntington president at Barclays Capital. is a partner at Investments Beach, Calif. Kevin and his family live in & Finance Ltd. He and his of The Orlov Company Inc. West New York, N.J. family live in Athens, Greece. He and his family live in 2003 Lexington, Mass. George Andrews* and his Sam Coronado and his wife, Carolyn Andrews ’02, wife, Jennifer, welcomed 1996 1999 welcomed the arrival of their the arrival of their daughter, John P. Niecikowski and Andrew J. Belton and his twin daughters, Addison Rose Elizabeth Marie, on July 2, his wife, Kirsi, welcomed wife, Holly, welcomed the and Theresa Paige, on July 30, 2007. Elizabeth joins siblings the arrival of their daughter, arrival of their son, Liam 2008. Addison and Theresa Matthew Robert, 3, and Christina Sophia, on October 10, James Patrick, on May 27, join older siblings, Grace and Emily Virginia, 5. Sam is 2007. Christina joins brothers 2008. Liam joins big sister, market manager at Shell Oil Michael, 6, and Nicholas, Company. He and his family 4. John is senior manager live in Kingwood, Tex. of securitization services at Lee McNeer and his wife, Michele, welcomed the arrival of triplets, Max, Beck and Lara. Andrew is a partner at George. George is an associate Cade, on May 12, 2008. Lee Bridgespan Group. He and dean at the University of his family live in the Bronx, Chicago Graduate School of N.Y. Business. He and his family live in Naperville, Ill. Daniel Forrester and his Deloitte & Touche L.L.P. wife, Nancy, welcomed the Isaac Finger and his wife, He and his family live in arrival of their daughter, Vanessa Dàvila, welcomed the Scottsdale, Ariz. Charlotte Jane, on August 14, arrival of their son, Maurice, is vice president, originations, 2008. Charlotte joins older on September 12, 2008. Isaac at RED Mortgage Capital 1997 brother, William, 3. Daniel is is chief financial officer at Inc. He and his family live in Anne Hunt Zybowski a consultant at Sapient. He Columbus, Ohio. and her husband, Krys, and his family live in Bethesda, welcomed the arrival of Md. Rina Ostrinsky and her their son, Stephen Hunt, on husband, Yevgeniy, welcomed August 26, 2008. Anne is 2000 the arrival of their son, a senior research analyst at Troy Beason was married on Adam, on June 11, 2008. October 5, 2008, in Rochester, Rina is staying at home. N.Y. Troy is manager of technology utilization at China Fishery Group. He and Bausch & Lomb in Rochester. his family live in Lima, Peru. His wife, Jacqueline, is a travel supervisor for PAETEC 2004 Holding Corp. They live in Kevin Brillhart and his West Henrietta, N.Y. wife, Gabriela Gutierrez-
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 39 Alumni Leader Profile Ke l l y St o n e ’03 She and her family live in Eris Aczel, works for Deloitte Morgantown, W.Va. & Touche.
tournaments in partnership Christopher Seitz and his Ross Briggs married Danielle with the Dew Action Sports wife, Karen, welcomed the Beyer ’06 on January 3, 2009, Tour,” she adds. arrival of their son, Gavin in Miami, Fla. Ross is an At Simon, Stone found Christopher, on May 22, associate at Houlihan Lokey the education she needed to 2008. Gavin joins big sister, Howard & Zukin in New pursue such an exciting and York City. Danielle is with dynamic career. She believes Mariner Investment Group that most companies offering in Harrison, N.Y. They live in consumer packaged goods Greenwich, Conn. won’t even consider hiring Chris Johnston married people for brand management Dr. Grace Vangeison on unless they have an M.B.A. Caroline Hope. Christopher is October 4, 2008, at the Inn Although Stone chose an associate principal in the on Broadway in Rochester, Simon for its reputation asset and wealth management N.Y. Chris is a leaderships gift in finance, she enjoyed the practice at Heidrick & officer at Boston University. hen Kelly Stone small size of the School and Struggles International. He tells people that its international influence. and his family live in Foxboro, Wshe’s senior brand “Brand management requires Mass. manager of NERF, she has both creativity and analytics,” no shortage of things to talk she notes. “I needed a strong 2005 about. As one of Hasbro’s top foundation in quantitative Bradley Bismark and his brands, NERF is turning 40 decision-making.” Stone wife, Dr. Rashmi Bismark, this year. It’s come a long way was also able to study in welcomed the arrival of their They reside in Newburyport, from its beginning as a little Australia and get to know her daughter, Ananya Jennifer. Mass. Grace is a product orange foam ball: the NERF classmates, who have provided Bradley is CRM manager at manager at Millipore. brand now encompasses a her with a close-knit social HSBC. He and his family live variety of sports, blasters, network from around the in Paris, France. Laura Xiaolei Liu has hand-to-hand combat swords, world. “As a Rochester native,” married Victor Hongwei Yu. licensed footwear and apparel, Stone says, “I can’t think of a Esteban Davalos and his Laura is assistant professor and even a new NERF video better place in which to live, wife welcomed the arrival of of finance at Hong Kong game for Wii™. work and study!” their son, Martin, on October University of Science and 6, 2008. Esteban is relocating Technology in Hong Kong. Stone’s job is to manage Stone’s favorite professor to join the Spain office of Victor is an attorney at Hogan the NERF business in the was Ron Schmidt, who Reckitt Benckiser Inc. He & Hartson law firm. United States. “No two days taught the course STR 403: and his family will be living in are the same,” she says. “My The Economic Theory of Barcelona, Spain. Vaibhav Mahajan and his Organizations. By challenging responsibilities run the gamut: wife, Ruhi, welcomed the retail pitches, merchandising his students to formulate and Adam Frisicaro and his wife, arrival of their son, Ayan. strategy, pricing, and supply articulate opinions, Stone Jodi, welcomed the arrival of Vaibhav is with Citigroup. chain management, as well developed a skill set she uses their son, Vincent Dominic, on He and his family live in as traditional marketing every day. Although fielding November 4, 2008. Adam is in Singapore. activities such as consumer cold calls and poring over product development finance at promotions, media planning stacks of articles was at times Ford Motor Company. He and Paul F. Mayer* and his and advertising,” Stone painful, she knows she gained his family live in Canton, Mich. wife, Kimberley Cattat Mayer, says. Look for the new sport considerable knowledge from it. of NERF Dart Tag to be In her spare time, Stone 2006 introduced this year, featuring runs marathons, volunteers, Stephen Aczel was married in an international league with and travels internationally. Her August 2007 in Houston, Tex. formalized rules. “Right now, next big trip will be a trek up Stephen is in loan sales and we’re producing commercials, Mt. Kilimanjaro in December trading at Scotia Capital in working on print/online 2009. SB New York City. His wife, Jackie overlays and hosting major *Executive M.B.A. graduate
40 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Alumni Leader Profile welcomed the arrival of their 2008 Je f f r e y Kn a u ss ’01 daughter, NinaMaria Isabela, Vivek Gera was married on on August 4, 2007. Paul November 9, 2008. Vivek is an is a manager of regulatory assistant director at Hartford s worldwide training compliance at The Bonadio Financial Services Group manager at Xerox Group. He and his family live in Hartford, Conn. His wife, ACorporation, in Rochester, N.Y. Bhavna, is with Deutsche Jeffrey Knauss oversees Bank Securities N.Y. a vital business process, Mustafa Saya married his continually looking for ways wife, Zahra, in early 2007. Raghu Gupta married Mansi to improve it. In addition to Mustafa is an investment Vasishtha on November developing and delivering manager at Abu Dhabi 19, 2008, in India. Raghu global training programs for Islamic Bank (ADIB) in Abu is a financial management the launch of production- Dhabi, United Arab Emirates. associate at Citigroup Inc. in printing products, he uses Six They welcomed their daughter, New York City. They live in Sigma to refine best practices Mashal, on October 20, 2008. Forest Hills, N.Y. that enhance the learning experience. Atsuo Tamura was married Jason Hall was married Most of Knauss’ career on October 12, 2008. Atsuo on August 23, 2008, in has been spent in the “Completing the M.B.A. is with Ernst & Young in Naperville, Ill. Jason is a program has made me a Tokyo, Japan. He and his wife, senior associate at DeltaPoint technical arena, developing much more well-rounded Nahoko, live in Tokyo. Capital Management in and introducing new Rochester, N.Y. His wife, products. To reach his long- individual. Now I understand 2007 Lisa, is vice president of sales term goal of acting as general the technical side of things Paola Valinotti Aostri* and marketing for Biometric manager in an operational and how to make money and her husband welcomed Security Solutions. They live area, he has taken on in business,” he says. “I the arrival of their daughter, in Rochester. developmental assignments also learned how to think! across the entire value chain. With business changing at Mark P. Lesniak* and his “To enhance my career and breakneck speed, I’m able to wife, Sarah, welcomed the personal knowledge, I wanted use my base of knowledge arrival of their son, Thomas to better understand how to be a quick study when John, on August 6, 2008. various organizations worked I’m handed completely new and what was most important challenges.” Indeed, Knauss’ to them,” he notes. undergraduate degree in Celina, in June 2008. Paola is For Knauss, a vital key electrical engineering, his corporate audit director at F. to reaching his career goals Simon M.B.A. and his Hoffman LaRoche Ltd. She was getting his M.B.A. from Certified Lean Six Sigma and her family live in Basel, Simon. He knew about Simon Black Belt give him a Switzerland. from living in Rochester and combination of skills and Mark is a data coordinator was attracted by the part-time expertise that should serve Niko Smrekar and his wife, at Verizon Wireless. He him well. Cara Cardinale, welcomed option. “The opportunity to Knauss and his wife, the arrival of their son, and his family live in West attend a top-tier school and Luca Cardinale, on May 8, Henrietta, N.Y. SB interact with the best and Sarah Hartman, B.A. ’93, 2008. Niko is a momentum brightest were what did it for enjoy spending time with associate at Bausch & Lomb. me,” says Knauss. “I gained their two black labs. Knauss He and his family live in Save the Date! core knowledge in business serves as an active member Pittsford, N.Y. principles that I use every and vice chairman of the 22nd Annual Simon day.” Mary M. Gooley Hemophilia Of particular value to Center in Rochester, N.Y.— Alumni Golf Classic Knauss was his coursework in and, as much as weather statistics. Although he had lots and time permit, he enjoys Friday, May 21, 2010 of stats as an undergrad, he perfecting his golf game. SB Greystone Golf Club didn’t learn how to apply them 1400 Atlantic Avenue in making business decisions until he studied at Simon. *Executive M.B.A. graduate Walworth, N.Y. 14586
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 41 ClassNotes Alumni Leader Profile ke o k i t a 1973 Peabody L.L.P. in Rochester, N.Y., as director I T ’94 Robert B. Masteller* received the Town of new business and conflict operations. of Hilton Head Island Mayor’s Award for Japan, the Tomatoberry has the Arts at this year’s Annual Meeting and 1985 garnered major agricultural Award Ceremony of the Arts Council of W. Scott Gould* was nominated by President Obama to become deputy awards in Europe and is now Beaufort County. He is owner and president of The Jazz Corner in Hilton Head, S.C. secretary at the Department of Veterans working to better penetrate Affairs. U.S. markets. Joe Safier was sworn in July 1 for a one- After Ike graduated from year term as a member of the Los Angeles Anthony Mazzullo is the new president Simon, he began helping Superior Court Civil Grand Jury. and chief executive officer at Veramark his father, Tom, in going Technologies Inc. in Pittsford, N.Y. international with the 1975 The company focuses on software company’s products. Tom Kevin Feeney is now vice president of innovation, specializing in controlling spearheaded a joint venture capital appreciation plans at Gartner telecommunication expenses by managing voice, data and wireless service through a with China, and Ike expanded Inc. in Stamford, Conn. He has also been appointed to the client advisory board combination of auditing, consulting and the business into India and for E*Trade Financial’s corporate services software. Italy. group, as well as the board of directors for Ike learned about Simon the National Model Railroad Association. 1987 from a Japanese book that Kevin is an adjunct faculty member at the Alexandra Kelly announces that her listed the top 20 business University of Phoenix. company, Powerchex Ltd., garnered a schools in the United States. number of awards at the 2008 Thames Iwao (Ike) Tokita ‘94 and his father, While at Simon, he was one 1976 Gateway Business Awards, including Tsutomu (Tom) Tokita (seated) have of only two dozen Japanese William J. Brodows has been promoted to Business of the Year. made Tokita Seed Company a students in attendance. Ike vice president in the financial sector policy family affair. found these students to and analysis function, bank supervision 1988 group at The Federal Reserve Bank of Jeffrey Durbin recently opened the first be quite bright and full of hen you’re at the New York in New York City. He has been of four planned Genghis Grill franchises potential. “I asked myself, garden center next assistant vice president since July 2006. in St. Louis, Mo. Jeffrey is vice president of ‘How did I miss these people spring picking out finance at Barmensen Development in W in Japan?,’ ” he says. “They 1978 Edison, N.J. tomato plants, ask about the showed so much promise that I Salvatore LaBella* announces that Tomatoberry. You just might knew I had to study hard to be LaBella Associates won two Bridge Larry Hessney was admitted as a partner be able to grow the sweet able to compete against them Awards from the Western New York at RSM McGladrey, an affiliate of Freed cherry tomato variety—shaped in the business world. chapter of the Association for Bridge Maxick & Battaglia in Rochester, N.Y. He like a strawberry—that was leads the enterprise risk management “The business world can Construction and Design, both in the $1 developed by Tokita Seed million category. He is chair of the board at practice, providing consulting services that look very complicated until Company. LaBella Associates in Rochester, N.Y. include Sarbanes-Oxley Act compliance, you analyze it theoretically,” Ike Tokita ’94 is president internal audit outsourcing, IT security and Ike continues. “It’s also key to SAS 70 reviews. and C.E.O. of Tokita Seed, 1979 recognize your capabilities and a family business now in Donald (Skip) Conover* was honored limitations, especially when as the 2008 International Entrepreneur Pankaj Singh is now head of its third generation. Started you need to partner with of the Year at the first annual Hamilton transformation at ANZ Banking Group in over 90 years ago by Ike’s others for mutual success.” Ventures Symposium at the United Nations Melbourne, Australia. grandfather, Tokita Seed is Ike travels more than 130 on February 7, 2009. He was also featured one of Japan’s oldest seed days a year internationally, but on the cover of the June 2008 issue of 1989 companies, known for its Edmund L. Luzine Jr. recently formed enjoys driving his BMX 507-hp Global C.E.O. magazine. Skip is the director innovations in the cherry of Bhavana Developers Pvt. Ltd. in Ausable Funds Inc., a new firm that to burn off stress. He advises tomato market. Annapolis, Md. will launch a global emerging markets prospective Simon students “To be honest, we didn’t mutual fund later this year. He is president to get a four-wheel-drive car and C.E.O. at Adirondack Capital intend to create a strawberry- 1983 and take advantage of the cold Management in McLean, Va. shaped tomato,” says Ike. Carolyn Ainslie was appointed vice winters by studying hard. “But president for finance and treasurer at “When I showed them to my don’t forget your golf clubs!” Princeton University in Princeton, N.J. 1990 two-year-old daughter, she he adds. “The long summer She was previously vice president for Stuart M. Wright was appointed chief thanked me for the strawberry, days are a great opportunity to planning and budget at Cornell University. financial officer at SUNY Upstate Medical and the Tomatoberry name University in Syracuse, N.Y. He previously perfect your swing.” SB was born.” 1984 served as financial director of national A longtime favorite in Martha (Every) Osowski has joined Nixon government services at WellPoint Inc.
42 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Alumni Leader Profile 1991 and Drug Administration approval for Lucid’s Su sa n To pe l -Sa m ek ’95* Paolo Goes was named the Salter confocal laser microscope medical device. Distinguished Professor in Technology and Management and department head, 1997 usan Topel-Samek management information systems, at the Maneesh Awasthi has joined ’95* knows how hard Broadpoint Securities Inc. in the University of Arizona’s Eller College of it can be to get the Management in Tucson, Ariz. mortgage- and asset-backed division of S Broadpoint DESCAP in New York City. education needed for success. Ariadna Rodriguez has been appointed She also knows the rewards of vice president of global branding and Phil Rosenstein recently completed a hard work and persistence. advertising at Bausch & Lomb in solo cross-country run from Santa Monica, Simon’s E.M.B.A. program Rochester, N.Y. She will be responsible Calif., to Atlantic City, N.J., to raise funds was the perfect fit when Topel- for leading and developing the strategic and awareness for the Mario Lemieux Samek decided to further her direction of B&L’s global consumer Foundation. business education. “I was a advertising campaigns. single mother and mid-career 1999 executive, but I couldn’t take Stanley M. Spector* was cited in a James S. Senall has recently been two years away from working U.S. News & World Report article, “Keys appointed president at High Technology to Starting a Business in Retirement,” Rochester, an affiliate of the University of to earn my M.B.A.,” she says. a follow-up to his book Baby Boomers’ Rochester. He was previously managing “Although continuing to work Official Guide to Retirement Income: Over director at Greater Rochester Enterprise in at Bausch & Lomb and getting grasp of key concepts.” 100 Part-Time and Seasonal Start-Up Rochester, N.Y. my degree was grueling, it was Businesses for the New Retiree. Stanley the perfect fit for me.” Among her favorite is president at S4 3-D Corporation in 2000 Recently retired from professors were Cliff Smith Rochester, N.Y. Gregg A. Lederman has been awarded Bausch & Lomb, Topel-Samek and Gregg Jarrell, who were the 2008 Independent Publishers’ Silver began her career at the firm skilled at presenting difficult 1992 Medal for Best Business Book for his book, in real estate and relocation, concepts and applying them to R. Todd Barber recently became vice Achieve Brand Integrity. The distinction eventually taking on more practical business scenarios. president of worldwide sales at Aylus adds to his recent win of the 2008 Axiom responsibility as vice president Topel-Samek found the Networks in Westford, Mass. Gold Medal for Best Business Book in Simon faculty to be both Human Resources and Training. Gregg is of global risk management and world class and accessible. Gerry Flores has been appointed vice founder and managing partner at Brand environment/health/safety. president, finance at Quaker Foods and Integrity Inc. and an adjunct faculty She advanced to assistant “The curriculum is rigorous, Snacks in Chicago, Ill. member at the Simon Graduate School treasurer, and served as vice and there is an emphasis of Business in Rochester, N.Y. president and treasurer. In on teamwork, which is 1994 that capacity, Topel-Samek fundamental to a successful Dara A. Shareef announces that Glenmont Todd R. Vanderven became the new managed all aspects of business school education,” president at BSI Management Systems Partners L.L.C. in Albany, N.Y., where he traditional treasury areas of she says. “Some top-tier America Inc., of Reston, Va., in July 2008. is a general partner, has been informed debt, cash and foreign currency business schools focus more on of its approval by the Commonwealth of individual achievement, which Pennsylvania for an investment in their management. In addition, 1995 develops successful leaders Jeffrey Blackey is now senior vice fund. Glenmont also met with the New York the global risk management/ in the short term, but doesn’t president of marketing at Broadview State Common Retirement Fund gatekeeper, insurance, real estate and Networks. He will be working in King of Hamilton Lane. environment/health/safety equip them with skills and Prussia, Pa., New York City and Rye Brook, operations reported to her. values that will sustain success N.Y., and would like to hear from any 2001 Topel-Samek credits Simon for the long haul.” alumni/ae in those areas. Asif Salim Khan has joined the hedge with giving her the analytical Topel-Samek is reading fund/asset management firm DFG thinking that she uses almost When Genius Failed by Elizabeth Lebl was appointed vice president Investment Advisers in New York City. daily to meet business Roger Lowenstein, a book of client solutions for PepsiCo at Information she recommends as required Resources Inc. in Purchase, N.Y. 2004 challenges at work. “My career couldn’t have taken reading in every leading Sharon Markowitz is interested in M.B.A. program. She believes Osamu Tsuneki has been promoted to reviving the Simon Bay Area Network the direction it did without a with philosopher George general manager in the raw materials with fellow alumni. Contact her at solid foundation in finance, purchasing department at Toray [email protected] if accounting and statistics,” Santayana (1863–1952) that Industries Inc. in Tokyo, Japan. you want to get involved and learn more. she notes. “I’ve built on this “those who cannot remember Sharon is a senior associate brand manager foundation over time, but my the past are condemned to 1996 at Del Monte Foods in San Francisco, Calif. training at Simon gave me repeat it.” She’s taking no Jim Joy, in his capacity as quality/regulatory the necessary vocabulary and chances! SB manager at Lucid Inc. in Rochester, N.Y., Augustine Kpehe Ngafuan is the successfully led company efforts to gain Food new finance minister of the Republic of *Executive M.B.A. graduate
U niversity o f Rochester | Si m o n Gr a d u a t e Sc h o o l o f Business | SimonBusiness | 43 ClassNotes Alumni Leader Profile Liberia, appointed by President Ellen Arquelio Semidey has accepted a St ep h a n Wi e d e r ke h r ’04* Johnson Sirleaf. Prior to this appointment, position as a corporate banker with HSBC he served as director general of the budget Securities (USA) Inc. in New York City. that although there were no for the Republic of Liberia. Michael Nunzio Zanghi recently became shortcuts at Simon, and it was Takayuki Otsuka was promoted to a fellow of the American College of hard work, the School was a general manager of enterprise solutions at Healthcare Executives (A.C.H.E.), the nation’s perfect fit because he didn’t G.E. Healthcare Japan in Tokyo, Japan. leading professional society for health- want to interrupt his career to care leaders. He is director of facilities at pursue his M.B.A. full time. Mark Ratchford accepted a position Highland Hospital in Rochester, N.Y. “If you don’t like stats, look as assistant professor of marketing at elsewhere! What my colleagues Vanderbilt University in Nashville, Tenn. 2006 and I found was that once we Saswata Banerjee is working in financial got through the hard work, we Christopher Seitz is a newly promoted planning and capital management at associate principal in asset management started to recognize patterns American International Group in New practice at Heidrick & Struggles York City. where others saw complexity,” International in Boston, Mass., where he notes. “Simon taught me he executes searches for C.I.O.’s, asset-class Laura Xiaolei Liu is now assistant the ‘discipline of scrutiny’ so leaders, portfolio managers, analysts and professor of finance at the Hong Kong that I could examine things senior distribution professionals for clients University of Science and Technology, s chief executive from many angles. I found across the country. School of Business and Management in and chief marketing myself asking ‘Why not?’ Kowloon, Hong Kong. officer at Billag rather than ‘Why?’ It’s been Kevin Sheldon was promoted to director A of budgeting and finance at AOL L.L.C. in Eugene O’Brien, formerly a search Ltd. (Swisscom), Stephan key for cultivating my ability Dulles, Va. Wiederkehr ’04* manages to make tough decisions with marketing analyst, began a new position as a business intelligence lead at The to juggle 300 employees, a confidence.” Sergio Suarez is now manager of finance Cobalt Group in Seattle, Wash. client base of three million, Wiederkehr particularly at Verizon Communications in Basking and more than $1.1 billion enjoyed his courses with Ridge, N.J. Katy Purwin was recently promoted to in telecommunications Marketing professor David associate brand manager at Frito-Lay broadcasting licenses each Arnold at Bern, whom he Karen Sweet was promoted to senior in Dallas, Tex. Katy has worked at Frito- year. Since becoming C.E.O. found to be energetic, available manager of finance for the Northeast region Lay since graduating from Simon, with of Billag in 2005, he has and thorough. (N.Y., N.J. and Conn.) at Westfield L.L.C. rotations on both the Doritos® brand and taken on full responsibility When he’s not managing the Kroger® customer teams. for profit and loss, strategic Billag, Wiederkehr pursues 2005 Christopher Antola has accepted a new Bhagat S. Sabharwal is now vice and brand marketing, media sports with a passion. He plays position as director of business strategy at president of portfolio and credit risk with and public relations, business competitive squash, ranked FX Networks (Fox Cable Network) in Los Citi in Long Island City, N.Y. He lives in development, operational No. 1 in Switzerland for many Angeles, Calif. Long Island with his wife, Gloria. performance, customer and years, and was considered key account care, IT and among the top 100 of the Naomi Cohen was promoted from Mustafa Saya accepted a position in May staffing. How does he do it? world’s professional players assistant brand manager on I Can’t Believe 2008 as an investment manager for real “I always wanted to go to an as an amateur. When he’s not It’s Not Butter!® to brand manager on estate transactions at Abu Dhabi Islamic American business school,” on the court, he’s deep-sea Suave® Body Wash and Body Lotion at Bank (ADIB) in Abu Dhabi, United Arab Unilever in Englewood Cliffs, N.J. Emirates. Wiederkehr says, “but I was diving or teaching others how looking for a fully accredited, to do it. “I’m also working Rameet Kohli is currently consulting for Atsuo Tamura has accepted a senior rigorous program. At the time, on a diploma in advanced Business for Social Responsibility and position with the transfer pricing I was eager to advance from studies for luxury goods at D.light Design in San Francisco, Calif. consulting team at Ernst & Young in a corporate role in mergers the University of Geneva,” Tokyo, Japan. and acquisitions to a general he says. “Luxury goods is Nathan Ringelstetter has accepted the management position.” a fascinating sector, where position of finance manager at Standard Meredith Wilf left Ann Taylor to Simon’s Rochester-Bern special marketing principles Solar in Gaithersburg, Md. Standard Solar begin a Ph.D. in politics at Princeton is a solar development and installation University, and is planning to apply E.M.B.A. program was apply. I’m particularly start-up company operating throughout her business background to complete Wiederkehr’s ticket for interested in the watch sector, the Mid-Atlantic. research within the field of international moving forward, giving as I’m a collector of mechanical political economy. him the credibility and self- diving watches.” SB Dominic A. Seiterle won a gold medal assurance to take over as at the 2008 Summer Olympics in Beijing, *Executive M.B.A. graduate C.E.O. at Billag. He believes China, with the Canadian Rowing Team.
44 | SimonBusiness | S i m o n Gr a d u a t e Sc h o o l o f Business | Universit y o f Rochester Off-campus recruiting events in New York City, and Boston
2009–2010 Other locations under consideration The Simon Graduate School of Dates for off-campus recruiting in 2009–10: Business at the University of New York Recruiting Program (N.Y.R.P.) To learn more about or register Rochester announces its Friday, January 22, 2010 for these events, contact: 30th year in the City. Doubletree Guest Suites—Times Square Karen Kingsbury Why participate? Boston Recruiting Connection (B.R.C.) Corporate Relations Marketing Manager Friday, January 29, 2010 • Events are free to our corporate Hilton Boston Financial District Career Management Center partners Simon Graduate School of Business Schedule for all events: University of Rochester • Recruiters select the students— 7:00–9:00 a.m. Continental Breakfast we'll take care of the rest 8:30 a.m.–4:30 p.m. Interviewing Program (585) 273-3094 Noon–1:00 p.m. Recruiter Luncheon [email protected] • Interview terrific talent without getting on a plane!
Simon School International Seminars Choose Shanghai, China, or Santiago, Chile
March 20–27, 2010
Speakers from industry, government and academia Company tours Seminars Featuring: Alumni events Optional tours Optional seminar extension packages available For more information and to register, visit www.simon.rochester.edu/interseminar or contact Kathleen Harris, Director of Executive Programs Administration, at [email protected] William E. Simon Graduate School of Business Administration Rochester, New York 14627
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