THE nDERBIRD Focus on the Americas An assessment of the grain markets by 2 Thunderbird alumni and other sources.

Special Report New York based group trains Mexico's 5 managers.

Essay A Thunderbird Campus professor sees 6 German investments on the rise. News Items of interest on campus and in the 7 news. l.QuePasa? Alumni gatherings across the country and THE 8 THUnDERBIRD around the world. is the quarterly alumni publication of American Campus speakers Graduate School of International Management. Vistors to campus who have enhanced the 9 T -Bird experience.

Profiles T -Birds volunteer in human resources 10 management. 11 Thunderbird Fund '79 Contacts Editor: Dawn Wardle-Corley Resource Person/Alumni Association Staff: Donna Cleland 12 roster. KeUyHodge Update Contributing Writers: Victoria Baird' 67 Class notes on T-Birds around the world. Theodore Troy '57 14 Professor Helmut Roessler Special Correspondent: Randi Steinberg Design: Pat Kenny

Sincere thanks to: Steve Orr, '79, Tom Brennan, '79, Debasish Banerjee, '80, Professor Shoshana Tancer and Dr. Parry Dixon.

Full cover: Harvesting wheat fields in Kansas. Courtesy of the Audiovisual Department of Farmland Industries, Inc. Center photographs: Left: Maturing wheat. Courtesy of the Audiovisual Department of Farmland Industries, Inc. Center: Crops from the Andes mountains in Peru which are believed to be ·the wild predecessors to the hybrid corn and potatoes we eat today. Photo by George B. Carver, '80. Right: North Dakota sunflowers. Photo by Mike Paulson. The theme for this issue of the Thunderbird Magazine is the Americas, both North and South. It is particularly fitting because as most of you know, American Graduate School of Interna­ tional Management started out 33 years ago as the American Institute of Foreign Trade and focused exclusively on Latin America. Since then, we have expanded to encompass the entire world, while teaching eight different languages. In spite of this and after all these years, Spanish is still the most popular language. We offer Portugese and even though it is the language of only a few countries like Brazil, it still has a loyal following of student majors. This past Fall, about 26 percent of \ the student body were from foreign countries. This includes 14 from Brazil, nine from Venezuela, eight from Mexico, three from Chile, two each from Peru, Bolivia and Nicaragua and one each from Argentina and Colom­ William Voris bia. President Because of our 33 years of concen­ tration on Latin America, we havE more of our graduates there than in any other region of the world, except the United States and Canada. For instance, there are 142 Thunderbirds in Brazil, seven of them with Cater­ pillar Tractor Company and 106 in Venezuela, five are with Publicidad Siboney. Mexico has 129 Thunder­ birds, five with Citibank. We had over 240 company visits to the campus this past year recruiting our graduates and it's amazing how many of them have major operations in Latin America. Invariably they are optimistic about the economic .potential of many of the countries in that region. The soybean fields of Iowa . Courtesy of the Audiovisual Department of Farmland Industries, Inc.

Focus on the Americas Shifting the alliance to COlnlnodities by Dawn Wardle-Corley Consumer demand for better, high Company, "Sunflowers lend them­ (Editor's note: We wrote to a number of protein diets is continually on the rise. selves to being grown here. Within the Thunderbird alumni contacts in the Many developing nations are actively next five years, sunflowers will be as Americas, asking their opinions regarding seeking grain for their hog and poultry important as corn and soybeans." He the cash commodities market. Because we populations. Buyers are looking pri­ added that there is a move afoot to are limited by space, not all the T-Bird marily to the United States' industries develop a sunflower futures contract in responses we received can be included. To as inexpensive suppliers of grain and Minneapolis, Minnesota. Although ali, we wish to express our sincere thanks grain derivatives. this scheme is still in the thinking for their assistance.) New grain markets are responding stages, it does indicate confidence in to needs for low cholesterol, high sunflowers as a considerable money This rapidly growing industry protein linoleic oils as alternatives to maker. provides investors with a cheap, safe wheat and corn. For instance, Canada Tom Brennan, '79, a program source for their money in lieu of an has financed the production of rape coordinator of marketing development unstable stock market. While a reces­ seed because of its high (40 percent) oil with American Soybean Association sion looms ahead, cash commodities, content. Another item to watch is and Paul Fribourg, merchandiser in particularly the grain markets, are a sunflowers. Said George Douglas, '76, charge of U.S. wheat exports and brightening light amidst an uncertain a merchandiser for Continental Grain economic future. Federal Savings and Loan Association stresses the importance of the Soviet Union as a buyer of U.s. grain. Yet, one new development according to Paul Fribourg is the "emergence of the Far East as a major buyer of commodities, in particular, Korea, Japan, Taiwan and China. This really has been booming in the past years and prob­ ably will continue to do so." Many Latin American countries continue to buy great quantities of grain. At the same time, Japanese com­ panies have shown interest in obtaining the middleman's profits by going to the source. "Japan has started investing directly in grain export facilities in the U.S.," said Fribourg. For instance, he noted the recent Mitsui purchase of Cooke Industries elevators in New Orleans, Louisiana. Another Japanese company, Zeno, has announced plans to build a grain Wheat harvest in Kansas. Courtesy of the Audiovisual Department of Farmland Industries, Inc. elevator in New Orleans. As a U.S. co-op, Zeno is just one example of a wheat commodities futures for trend toward the expansion of a Continental Grain Company agree. cooperative system in the U.s. "The demand for sunflowers is Still, dominance in all the grain increasing because it is more price markets remains with the U.S. "This competitive," said Brennan. Rapid year was the first year that U.S. development of grain substitutes is just soybean production was more than one trend in the commodities industry. corn or wheat. The value of the crop is While U.S. grain companies possess a $14 to $15 billion. Of that amount, $7 vast majority of the world grain billion plus will be exported on a market, South American nations have country by country basis mostly to emerged as competitors. Both Brazil Japan and Europe. The Soviet Union is An older combine. Courtesy of the and Argentina are becoming aggres­ purchasing large quantities of soybean Ross Industries Department of Cargill, Inc. sive exporters of soybeans and soybean and soybean meal. India is one of the oil. largest importers of soybean meal," Craig Starkey, '60, vice president and noted Len Brockman, '75, American director of economic research for First Soybean Association's division manager for Latin America. admits that many people are analyzing Said Paul Fribourg, "The U.S. is the the price of commodities to gold. "The major corn producing country in the price of soybeans in relation to gold world and will maintain dominance in has made our commodities cheap. It's the corn market while Latin America done nothing but bring people into the increases soybean production." commodities market," he indicated. In In response to inquiries as to accordance, Len Brockman observed, whether commodities cartels could be "Two days ago (Oct. 31) an ounce of successful, our sources were skeptical. gold at $378 could buy 21 barrels of George Douglas indicated that com­ Saudi Arabian light crude and that modities must have captive markets in ounce of gold can buy 57 vessels of order to be profitable. Len Brockman soybeans. This compares to 19 barrels responded, "No, unless it's a product of light crude and 30 vessels of like petroleum which has a low price soybeans at the price of $243 per ounce elasticity of demand." Brockman noted a year ago." that too many countries grow wheat The grain industry is one of the for a cartel to be successful. "Only in fastest growing markets in the U.S. years of drought or famine might it today. In terms of world trade, it is work, because demand is larger than clearly at the top. An expanding supply. In years of large surpluses you international industry means more can't operate a cartel because it's jobs for T -Birds and, in light of the cheaper to dump on the market at a Courtesy of the Port Authority of New York. numerous visits to Thunderbird by lesser price than to keep in storage." recruiters last Fall, this is proving true. Commodities cartels might work in During Fall of 1979, six major U.S. the short run, according to Craig As the dollar continues to devalue, grain corporations sent job recruiters Starkey, but as time wears on, he said investors are shifting their alignment to the Thunderbird Campus, showing they would fail. from the dollar to precious metals and their confidence in the quality of our For different reasons, Paul Fribourg the grain markets. "You've got to find graduates. By comparison, during the is doubtful about cartels. He said, something else to set value to commod­ Fall of 1978, three grain corporations "Even OPEC is having major prob­ ities," said Fribourg. "This does put the sent recruiters to the school. lems. In a cartel you've got two ways it U.S. in a more competitive position in Continued success of the grain can fall apart. Either people inside will terms of price." Similarly, Craig markets is up to the men and women break it up or those outside will. It Starkey noted, "Some commodities in international management of this won't last because it isn't an efficient will cost more, depending on what side industry, to serve as the competant system." of the fence you're on." Imports will guides and knowledgeable economists In contrast to the stock market, some cost more, while exports cost less. who work toward stability in un­ commodities could do comparatively George Douglas calls the scramble certain times ... individuals like our well during the upcoming recession. toward the gold market a "fad," but Thunderbirds. Len Brockman indicated prices will first rise as the recession comes on, but A grain elevator in Kansas. Courtesy of the Ross Industries Department of Cargill, Inc. U.s. export prices will drop again later. Brockman expects a shift away from foreign imports of feed grains and a relatively constant demand for high protein feeds. Commodity markets will suffer just as any other market, but Craig Starkey observes "Basic commodities in demand will not suffer as much as marginal commodities." However, Paul Fribourg was less optimistic about the effect of recession on commodities. In the last two weeks of October, interest rates jumped, while wheat and corn prices dropped. He believes this will continue to happen during a recession because "It's very expensive to finance commodities with interest rates above 15 percent." As an example, he noted, "Poland had a very poor harvest this year and can't afford to buy grain unless they get financing from foreign governments." With interest rates high, Poland risks a serious debt. 4 ~~Centre de Mexico" trains managers for tomorrow's growth

prisingly, Mexico has pressing needs attorney and consultant, the greatest (Editor's note: American Graduate for talented managers to guide growth export opportunities lie in the area of School of International Management is plans to fruition. capital goods. Radway explains the affiliated with the American Management Although men and women running economics behind Mexico's prefer­ Association. We believe the following Mexican companies are for the most ential import treatment of capital article, which was forwarded to us from the part, university educated, they were goods. With the country's foreign New York office of the AMA is in keeping not all trained in the techniques of exchange earnings at an all time high with this issue's Americas theme.) good management. Rather, they hold because of oil exports, Mexico risks degrees in engineering, the sciences inflation by exchanging earnings into by Randi Steinberg and law. their currency. Instead, they will use Since 1966, American Management this" oil money" to purchase the As little as three years ago, Mexico Association/International has been capital goods Mexico needs for was barely weathering a severe serving the managerial training needs industrial growth. economic depression coupled with a of Mexico's business sector through its Through the New Industrial devastating 80 percent devaluation of "Management Centre de Mexico, Incentive Program, Mexico is dealing the peso. Perhaps Mexico has to hit A. C. " Located in Mexico City, the with another problem, overcrowding rock bottom before reaching for the Centre has tripled in size since 1977. of their cities. By offering incentives, new highs experts now predict the Using Management Centre de Mexico this program encourages companies to country will attain. In fact, Mexico is as a base, AMA/International also runs build their facilities in less concen­ now on a growth path that may a number of meetings in Central trated areas. Normally, firms build parallel Japan's post World War II America, Colombia and Ecuador. where the lines of communication lie. industrial explosion. The Centre holds public seminars on So, the Mexican government is This optimistic outlook on Mexico's a wide range of managerial topics identifying those regions which are future was, of course, triggered by reflecting the disciplines of finance, near the distribution network for gas. substantial new oil and natural gas manufacturing, general management, These companies may also earn finds. These discoveries raised the insurance, marketing, systems, additional credits for providing new country's proven reserves from six research and development and human jobs. billion barrels to 40 billion barrels. In resources management. These John Frevalds, vice president of addition, Mexico's potential reserves seminars are designed to help the full marketing in the consulting firm, are an overwhelming 200 billion range of managers from first-line Experienced, Inc., has just returned barrels, which puts the country in the supervisors to chief executive officers. from a visit to Mexico. He believes that same oil league as Saudi Arabia. Other services of the Centre include in­ there are excellent export opportu­ However, Mexico is not interested in company training, the Management nities in the area of agricultural becoming another Saudi Arabia. Course for Presidents, Assessmant equipment. Mexico plans a 23 percent Despite pressure frpm an insatiable oil Centers, the Team Planning Process increase in food production over the and gas consuming United States, and multi-media training aids. next three years and this will take a President Jose Lopez Portillo is not The Centre runs 30 to 35 meetings sizable investment to accomplish. The tempted by a financial bandaid each month in various locations. spending has already begun with a solution to the country's serious General Manager Raul Penalosa re­ Mexican purchase of 5,000 tractors economic troubles. Mexico will export ports an increased interest in technical from the U. S. last year. Apparently enough oil to buy what they need­ areas such as plant management, agriculture is also a very big priority in food and equipment. In short, they will reflecting, no doubt, the priorities Mexico's plan of plans. buy whatever is necessary to finance Mexico has placed on industrializa­ Some additional areas that the development of their industrial and tion. "Mexico Update" meeting will explore human resources, thus deploying their Although intent on establishing self­ include: joint ventures with Mexican manpower and natural resources to sufficiency, this growth boom in partners, Mexican capital spending developing industries, particularly Mexico has created some lucrative new forecasts, law and tax structure, how to steel, machinery, electric motors and markets for American companies. To comply with the Mexican government the already strong tourist and hotel prepare U. S. companies for mutually and how the U.S. financial community industry. advantageous trade with Mexico, views Mexico's growth plans. All this activity is creating new jobs, AMA/International periodically American Management Associ­ some 460,000 last year and 700,000 schedules a meeting entitled, " Mexico ation/International, with centers in projected this year. Mexico hopes to Update." The next session will be held the U.S., Canada, Europe, Mexico and have created 12.6 million jobs by 1990. at AMA headquarters in New York South America, provides for an With rapid growth of any kind, gaps City on February 13 and 14. unusual interchange of managers in resources necessary for expansion According to AMA course leader contributing to a unique teaching and are bound to occur and not sur- Robert Radway, an international learning experience. 5 Germany's corporations - expanding international investments by Helmut Roessler because wage structures were an advantage in those countries. (Editor's note: Helmut Roessler is an In particular, German companies associate professor of German Language at seek out investments in the U.S. be­ the Thunderbi rd CampusJ cause of easier credit, access to raw materials, technology, an available During the years of 1977 and 1978, work force, smaller annual rise in the annual growth rate of German wages, a larger market, advantageous capital investments in the United exchange rates and non-existing co­ States rose a phenomenal 30 percent. determination laws. Currently there are 1065 German The August 1979 issue of Capital subsidiaries in the U.S., with many indicates that the u.s. is preferred for more seeking opportunities in this direct investment by noting that the country. The names of these businesses U.S. has been the recipient of DM 6.7 operating in the U.S. read like a Who's Chamber of Commerce (GACC), the billion, while the next closest recipient Who in German business. For instance, 1978 total of DM 8.591 billion in is Luxemburg/Belguim, which pos­ there are Bayer, Demag, Farbwerke, German investments breaks down like sesses a total of DM 5.2 billion in Hoechst, Kloeckner, Linde, Siemans, this: German acquisitions. DMin Thyssen, Veba and Volkswagen, to German corporations first invested Industry billions name a few. in the U.S. early in the 20th century, Over 114 of these companies es­ Chemical 1.868 but with the onslaught of the First, and tablished operations in the U.S. in 1978 Holding Companies 1.807 then the Second World War, many alone, preferring to settle in New York, Automobile 702 companies had to be sold. It wasn't New Jersey, Illinois and California. Metal Manufacturers 689 until the 1960's that German capital Their direct investment by the end of Mechanical Engineering 561 even began to work its way back into 1978 totaled Deutsche Mark (DM) Iron and Steel 457 the U.S. 8.591 billion, or approximately $4.909 Real Estate 389 Until 1970, most of these companies billion. Insurance 245 invested primarily in Europe. How­ In conjunction with German invest­ Finance 148 ever, according to Die Ziet, direct ment trends, Volkswagen has decided Other 1.725 investments by German companies to expand worldwide by about DM 5.4 By contrast, the GACC states that moved to North America at an annual billion, of which a large percentage American corporations invested in the rate of ten percent between the years will be used to enlarge existing facil­ Federal Republic of Germany the 1970 and 1977. ities in the U.s. and Mexico. The cumulative amount of DM 19.923 The GACC reports that these planned expansion will be the largest billion, or $11.384 billion directly. A companies now employ over 200,000 in the history of the corporation. By breakdown of these investments Americans. A recent survey by the 1982, the company hopes to increase appears below. German Department of the American Graduate School of International its daily production from the present DMin Management in cooperation with the 840 cars to 1020. Volkswagen repre­ Industry billions sentatives are considering building a GACC reports that an estimated 1500 second production facility in the U.S. Petroleum 4.085 management positions will open up in at a cost of DM 600 million. Electrical Engineering 2.808 these companies for the year 1979 Even more eye opening is the Hugo Mechanical Engineering 2.218 through 1980~ Notably, results from Mann purchase of 68 percent of the Chemical 1.818 the survey stressed the need for Fed-Mart Corporation. News sources Finance 1.539 language skills amongst management indicated that the Tengelman Group Automobile 1.314 and often a higher salary accompanied spent $77 million for a portion of the Holding Companies 1.089 that skill. Great Atlantic & Pacific Tea Company. Food Industry 510 Since the greatest number of German The purchase amounts to about 40 Rubber and Asbestos 504 firms have established themselves in percent of the tea company's stock. Other 4.038 the U.S. in the past four years, the im­ Recently, Bayer Corporation pur­ The results of a HWWA Institute pact on the American economy has not chased Miles Laboratories. The Flick survey published in Die Zietsuggest yet been completely felt. Most of these Group owns 28 percent of W. C. Grace. that German companies establish companies are enduring a period of Amerika Handel magazine reports foreign subsidiaries often because they adjustment and have not yet reached that the Boehringer Ingelheim com­ fear losing foreign markets unless they their full working capacity. As a result, pany has constructed buildings in are physically present. Others did so to U.S. businessmen will find many Connecticut which have cost an avoid certain trade restrictions. An opportunities for employment in estimated $20 million. estimated five percent of the German addition to the possibility of business According to recent findings corporations surveyed disclosed that transactions and a challenging new published by the German American they established foreign subsidiaries corporate environment. 6 Voris noted the "objective, intelli­ gent stand on the pricing of oil and its derivatives," by Sheik Yamani. Yamani was educated in the U.s. and was appointed Minister of Petroleum and Mineral Resources in 1962. He has served in that role ever since. "It is a great honor for me and my people to be awarded this degree," said Yamani. Referring to the economic problems of Saudi Arabia, Yamani said, "Even with the huge reserves of oil, Saudi Arabia is a poor country." The criteria Left to Right: Dr. William Voris, president of for being wealthy is not whether a American Graduate School of International country is rich in energy resources, Management; Mr. John F. McGillicuddy, chair rather it is whether a country possesses man of the board, president and ch ief executive human resources, according to officer of Manufacturers Hanover Corporation Yamani. and Manfucturers Hanover Trust Company; and The goal of his country is to Mr. G. Clarke Bean, chairman of the board of strengthen the human resources, American Graduate School and chairman of the "We're trying to build schools in that executive committee of The Arizona Bank. country, which will help us again to contribute to mankind." IIInternational Executive" Progress in Saudi Arabia will require further changes in the industrial award given capacity, but even more so in the way The "International Executive of the of life, Yamani noted. Year" award was bestowed on John F. He indicated that the Thunderbird McGillicuddy, head of Manufacturers Campus is providing Saudi Arabia Hanover Trust Company, at the with much needed managers. American Graduate School's fourth Said Yamani, "This school is for the annual board of trustees banquet last interest of the free world, and we, October. Saudi Arabia, are a part of that free The banquet, a black-tie affair held at world." the Phoenix Country Club, was at­ tended by about 200 Phoenix civic and business leaders. Shirley Wu given AGSIM gives the International Memorial Scholarship Executive of the Year award annually Sheik Ahmed Zaki Yamani addresses the in honor of a company executive. The fa culty, staff and student body of the The Doris Thompson Paine Memo­ award is in recognition of their efforts Thunderbird Campus. rial Scholarship was awarded to to foster international understanding Shirley Wu for the Fall 1979 semester. through constructive and mutually She received a grant for $300. beneficial business management. Sheik Yamani receives Miss Wu, 23, is a native of Hong McGillicuddy, who is president, honorary degree Kong. She holds a Bachelor of Business chairman and chief executive officer of Administration degree in marketing Manufacturers Hanover, the nations Sheik Ahmed Zaki Yamani, Minister and management from the University fourth largest bank, said he should also of Petroleum and Mineral Resources of of Hawaii and is fluent in English, be given the "optimist of the year Saudi Arabia, received an honorary Mandarin and Cantonese. She is cur­ award" because he is confident that the Doctor of International Law Degree rently maintaining a 4.0 grade point United States will solve its economic from the faculty and board of trustees average. problems. of the American Graduate School of The Doris Thompson Paine Scholar­ Supporting the Federal Reserve International Management (AGSIM) ship Fund totals $10,000 and tentative Board's action to bring about higher last October 22. plans have been made to offer a $300 interest rates, McGillicuddy said it was Yamani was awarded the degree in a scholarship for each Spring and Fall a courageous move, necessary in the ceremony held before the staff, faculty semester and $200 in the Summer. fight against inflation. and student body of AGSIM. Mrs. Paine passed away last Spring. He indicated" . . . the emphasis will AGSIM President William Voris said She was the founding president of the shift to world trade - an international the degree was given as a special rec­ Friends of Thunderbird and was imperative for growth and stability. ognition by the Thunderbird Campus responsible for organizing the first Economic interdependence is a trade­ board of trustees and faculty. Thunderbird Invitational Balloon off." "The United States and the Kingdom Race. Her sincere desire to enhance the International economy and finance of Saudi Arabia have a long history of Thunderbird experience will long be will take the place of war in the future, mutual respect," Voris said. remembered. according to McGillicuddy. 7 "better late than never," Alan Goode, '75, arrived just in time to enter his name in the drawing for the Thunder­ bird ring. While Goode won the men's ring, Suzanne Remar, '79, won the woman's ring. Future plans for the New England group include lunch at noon at Hoolihans in Boston's Quincy market on Friday, Nov. 30, and also, a cocktail and general meeting in late January. The New England club welcomes everyone in participating or helping Bangkok New York out the club and encourages T -Birds to A gathering in the Presidential Suite pass the word about the 22-member Richard Bossert, chairman of the of the Summit Hotel in New York City New England group to alumni in the Department of World Business and was attended by 150 T-Birds in the area or those traveling their way. Professor Duane Hall, executive New York area last October 23. For details, contact Steven Hall (617) director of INTERCOM, were treated Alumni enjoyed cocktails and hot 326-3443, John Wicker (617) 868-6200 to a charming get together with 12 hor d'oeuvres while listening to brief or Eric Bjerke (617) 364-2000. Bangkok T -Birds last August 12. talks given by Berger "Mr. Thunder­ Cliff Bevens, '50, and Jim Rooney, bird" Erickson, vice president at the '67, were responsible for coordinating Thunderbird Campus and Dr. Robert the cocktail and buffet party at the Horn, director of development and Saam International Hotel. public affairs. Erickson discussed the state of the Singapore institution and Horn gave a progress report on the Phonathon effort. About 35 T -Birds gathered in Richard St. Amant, '75, planned the Singapore, the Green Garden City, at meeting. the home of James Echle, '72, to greet Interest has been expressed in Duane Hall, who was in the Far East organizing a more structured New visiting alumni. A cocktail and buffet York group. made for an enjoyable and memorable evening. Puerto Rico T -Birds enjoyed a get-together at John Tomlinson's, '58, Sanjuan, Puerto Rico penthouse last September 16. Gloria P. Shuman, '55, reports that about 50 people were in attendence. Said Shuman, "It was a very good way for us to get together." New England The Thunderbird Club of New England met for its inaugural meeting Saturday, Oct. 27, for cocktails at the Harvard Club in Boston, Tokyo Massachusetts. Approximately 50 guests were The lovely Hanezawa Garden present to hear short talks from Restaurant was the site for the August American Graduate School of 28 meeting of Tokyo Thunderbirds. International Management Vice About 30 alumni gathered at the President Berger "Mr. Thunderbird" outdoor restaurant plaza for cocktails Erickson and Dr. Robert Horn, director and a sumptuous dinner. of development and public affairs. Hong Kong David Hayman, '74, the president of The organizing committee of Steven the Tokyo alumni group and Nobu­ Hall, '69, John Wicker, '74, and Eric At the Hong Kong American Club kazu Yamaguchi, '73, planned this Bjerke, '74, were pleased with the last August, 17 Thunderbirds met for a delightful evening. turnout and the amount of interest in buffet and cocktail hour. Professor Duane Hall will always the further growth of the New England Bill Ling, '73, hosted the fun meeting remember the Tokyo T -Bird hos­ group. with Professor Duane Hall attending pitality. Once again proving the axiom, this party. 8 tion of a new classroom building in what is now the field beyond the Talley building, according to Voris. The building should be completed by Fall of 1980. The school is considering the possi­ bility of constructing an apartment complex for students near the Thun­ derbird Campus, and the refurbishing of the old dorms, Voris said. The $6 million school budget is based on tuition, fees, board and room, Voris confident in Voris noted. However, the school is "pushing hard for corporation and Thunderbird's strength foundation support. Last year it totaled and prestige just over $500,000," he said. A new computer system will be President William Voris delivered installed in the library and in the his "State of the Institution" speech to computer center early in 1980, accord­ the Thunderbird Campus student body ing to Voris. He stated, "We will have last September, indicating his confi­ new equipment with at least five dence in the strength and prestige of terminals with all the capability we the school. need for instructional purposes." The American Graduate School "is " . .. Castro will be the spokesman for the nonaligned," said Arizona Republic Senior at the absolute peak of its prestige, Inter-American Bank Editor Frederick Marqua rdt. Photo by Enrique reputation and its financial condition Melian. in the eight years I've been here," Voris promotes trade relations said. He indicated that the school does not Calvin de Pass, operations officer for Marquardt notes change in intend to enlarge its enrollment and the Inter-American Development said no more than 925 full time equiva­ Bank, spoke to about 200 Thunderbird non-aligned movement lent students will be accepted for Campus students last October regard­ enrollment per year in the next five ing United States - Latin American Frederick Marquardt, senior editor years. trade relations and the role of the of the Arizona Republic, spoke to Plans are under way for construc- Inter-American Development Bank. about 150 Thunderbird Campus The Inter-American Development students this past September on "Cuba Bank is designed to facilitate trade under Castro." lQue Pasa?, continued relations between the U.s. and Latin As a member of the press, Marquardt Oregon America, according to de Pass. "The attended the conference of non-aligned Inter-American Development Bank is a nations held in Havana, Cuba, last For some Thunderbirds, a grueling public institution to promote the September. test of endurance spanning a rugged economic and social development of "The so-called non-aligned move­ country and mountain trail of 36 miles Latin America," he said. ment will never be what it was," has become an annual reunion. The De Pass is responsible for preparing Marquardt said. "For the next three race is called the annual "Ride & Tie" loan and technical cooperation years, Castro will be the spokesman for and begins as one person mounts a proposals and for administering the non-aligned." horse and rides. His teammate runs. operations financed with the Bank's After commending impressive The partners exchange riding and resources. progress in the areas of medicine and running until hours later, exhausted, Since the 1960's, Canada, the education, Marquardt criticized Cuban they make it over the finish line. Carribbean Islands, Guyana and the authorities for keeping the press The marathon is held in the Des­ Bahamas have become members of the separated from non-aligned nations chutes National Forest near Sunriver, institution. Beginning in 1976, the delegates during the conference. Oregon, with over 100 teams partici­ bank opened membership to countries However, he was pleased that the pating for cash prizes. out of the region and Japan and some foreign correspondents were granted Richard Decker, '76, a vice president European countries joined. unlimited opportunities to speak to of United California Bank, Emmett "The institution acts as a source of Cuban citizens. Ross, '70, co-founder of Fortrunners, a direct public investment," said de Pass. chain of athletic stores and Dick, '70, "For 1978 through 1982, 50 percent of and Shelia Harding were members of a the investments will go to aiding the "Ride & Tie" team that hoped to finish lower income sector." in the top ten this year. Unfortunately, De Pass, who assists in determining because of some problems with their project funding, said 54 percent of the horse, the team finished back in the votes within the institution are held by field. Latin American nations. We wish you luck again next year! 9 T -Birds volunteer professional services by Victoria Baird, '67, and Theodore Troy, '57

Remember those extra curricular activities you used to get involved in? The ones that broadened your per­ spective and kept you in tune with the times? Well, for most successful business­ men and women, the pace keeps up throughout their careers. And for over 35 Thunderbirds in New York, along with about 800 graduates from other business schools, a focus of their outside interest is the Volunteer Urban Consulting Group (VUCG). The VUCG is a nonprofit organiza­ tion founded just ten years ago by the Harvard Business School Club of New York. The organization mobilizes individuals from the private sector to help solve business problems for minority-owned businesses and non­ Sitting from left to right: Carol V. Coleman, 73, B. Theodore Troy, '57, James D. Pobanz, 70. profit groups. Standing from left to right: Mangeshwar S. Mathur, Dec. 70 Dennis Ferguson, 73, Because of its role with minority Paolo E. Colombi, 75, Steven E. Vest, '67. business, the VUCG is funded in part by the United States Department of are"speaking the same language." It is portunity to deal with people of very Commerce. It also receives grants from then up to the consultants to decide different financial, psychological and a number of major foundations and who will do what and to work with the sociological backgrounds through corporations. This pays for VUCG client in the manner which seems most VUCG projects. He also feels that this offices in New York City and a small, appropriate from their skilled view­ is a way for him to "give something but full-time staff of five program points. back to the community." directors. One of these directors is The Thunderbird alumni registered In addition to his position as account Dennis Ferguson, '73. with VUCG for this pro bono" con­ executive to the Export Credit Corpo­ Ferguson, who began working for sulting range from a member of the ration, Jim Tubridy, '76, has worked on Manufacturers Hanover Trust Compa­ first graduating class, Emily Adacusky, two VUCG projects and is looking ny just a few months after graduation, , 47, to recent graduates. The types of forward to others. took two years leave of absence to projects they have worked on are quite Tubridy said one of the satisfying work for VUCG and found he liked it broad and some examples follow. aspects of his job with the VUCG is the so much that he is now officially on the Steven Vest, '67, is a consultant in fact that the recipients have been so staff at VUCG. international equity markets. The grateful for the advise they've received. Ferguson works with minority busi­ VUCG projects he has worked on "It's always nice to do something for nesses and nonprofit organizations by include Chinea & Associates, a start­ someone when you know they appre­ screening their requests for assistance up" employment agency specializing ciate it and get some value out of it." and identifying the skills needed to in the placement of Hispanic profes­ Carol Coleman, '73, is quite occupied solve their management problems. sionals, and the Metropolitan Music with her new position in international Once that is accomplished, he sets out School, a nonprofit organization. He banking with the American Express to "recruit" a qualified team of has been invited to be a member of the Company. Coleman has also worked VUCG volunteer consultants. Girls's Club of New York's Board of on VUCG projects. In particular, the The next step is bringing together Directors. Breezy Morning Herb Company, a Ferguson's team with the client. When Vest has particularly liked the op- minority-owned spice and tea whole­ this occurs, Ferguson makes sure the sale operation gave her a chance lito team he has assembled and the client "free of charge work on cash flow projections for a 10 "the creation of a business The path toward progress Thunderbird Fund ~79

In the letter I sent to alumni during Nagy, '79, and Roberta Jacobs, '80. For the Annual Thunderbird Fund Drive, six weeks, four nights per week, two questions were posed. First, "What groups of ten students called as many can you expect of AGSIM?" You may alumni as possible from the East to the expect the continued best effort of West Coasts. Four thousand alumni Thunderbird to prepare management were contacted by phone and 1,990 T­ talent for today's multinational world Birds have sent or pledged contribu­ real company, in a real situation - a of business. By keeping our reputation tions totaling almost $110,000. far different and more meaningful at a high level, the value of your In November, Thunderbirds exercise than the classroom could ever diploma is enhanced. You benefit, overseas were contacted by a special provide." though you're no longer on campus. aerogram; at this writing, we have not George Wolfson, '72 is manager of The second question was, " What can yet tabulated their response. marketing planning at All Trans we expect from you?" We asked for a We expect the final results for the International, and is serving on the meaningful commitment to which a 1979 Annual Thunderbird Fund Drive advisory committee to the R. Stephen great many alumni responded. Many to be about $120,000. Martin Trading Company. He is being of you received phone calls as part of Because of your support, the assisted by Robert Eichfeld, '67, who is the Annual Phonothon effort, and $100,000 Kresge Foundation challenge vice president at Citibank. were asked to support the operating grant, for the construction of a 22-room Wolfson recognizes that after many and capital needs of the Thunderbird classroom building, is within reach. years in business, he is able to share his Campus. I would like to acknowledge each general as well as specialized skill with The Annual Phonothon was contribution, however, limited space VUCG clients. In addition to the organized and supervised by Jane prevents this. Listed below are those personal satisfaction he obtains from who have made especially generous this kind of work, Wolfson feels that as contributions, to whom we owe our a consultant, one also learns and is able warmest "thanks." to "see the overview" again. "Many Participation by Thunderbirds times, in helping new companies, it toward the further success of the can actually help you to see the other school is genuinely appreciated. side of your business problems," he said. Gary Lumsden, '73, recently joined the Este Lauder international market­ ing staff after working as project man­ ager for Ajax at Colgate-Palmolive. The VUCG projects he assisted with gave him the opportunity to apply his From left to right: Roberta Ja cobs, '80, Robert marketing skills without the benefit of Horn, and Jan e Nagy, 7 9, reviewing statistics Robert Horn a "Colgate-sized budget." Lumsden sheets fo r the Th underbird Fund 7 9. Director of Development and Publ ic Affairs helped develop a packaging concept for Breezy Morning Herbs and also worked on a market penetration plan for Embassy Tea. Both companies are Robert F. Begani Lowell K. Marcus minority owned. Patron ($25,000-) Dr. Robert F. Bobo Lucile M. Myre All this work for the VUCG might Mrs. John W. Kieckhefer William L. Brown Jr. Gerald F. Montague seem far removed from the inter­ Darrel E. Carver A. Jordan Paine national trade scene in which these International Associates Harry A. Cockrell William O. Pennel Jr. and many other T -Bird graduates are ($1,000- $4,999) Roger L. P. Coombs Sheldon G. Pooley developing their careers. However, Mr. Edward V. O'Malley Peter R. Cozzetto Curgie W. Pratt general business experience as well as Mr. Julian M. Sobin Max J. Dickman Dr. Marvin S. Priske communication skills acquired abroad Dr. William Voris William D. Hacker William I. Reed, Jr. and in domestic work situations is John E. Hamilton James H. Riddle needed at VUCG. "In fact," says Counselor's Club Susan M. Harris Jonathon B. Runyon Dennis Ferguson, "we've found the ($500-$999) Mr. Sherman Hazeltine John R. Ryan Thunderbird graduates often relate G. O. Barraclough William E. Henley John K. Seward better to our clients than graduates Alfred C. Herrmann Tze-John Tung from some other business schools. Founder's Club ($133-$499) Paul L. Hertenstein Jerrold P. Turner Jr. They seem to take a more down-to­ John P. Ashton II Lillian D. Hogenboom J. Jorge Verduzco earth approach that is more easily Gailian D. Bagley Jr. G. Dean Johnson Timothy C. Walker understood by these minority and Edward M. Baltrusaitis Ralph R. Kelly Donald W. Walter nonprofit businesses." Glenn A. Beck Toby R. Madison Allan P. Welch 11 Resource Person/ HAWAII NEW YORK AREA OREGON Harry Fanning (RP, AA) Belmont Haydel, Jr. (RP, AA) Maurice B. McCullough (RP) Alumni Association 44-208 Malae Place P.O. Box 6400 3418 S.E. Carlton Kaneohe, HI 96744 LawrenceVille, NJ 08648 Portland, OR 97202 Tel : (808) 254-1221 Gerald Kangas (RP) Tel : (503) 281 -9904 c/o Cillbank, NA ILLINOIS IBG Dlv. 1, Tube 57 PENNSYLVANIA Bob Johnson (RP) 399 Park Avenue Belmont Haydel, Jr. (RP, AA) R.E. Johnson Inti. Assoc. New York, NY 10022 P.O. Box 6400 1795 Taft Avenue Kathleen M. Kidder (RP) Lawrenceville, NJ 00648 Roll1n9 Meadows, IL 60008 226 E. 70th Street, Apt. 4·E Emmanuel NSlen (RP) Tel : (312) 358-6464 New York, NY 10021 7805 Buist Avenue Paula Messer (RP) Peter Martin (RP) Philadelphia, PA 19153 611 Breakers Point 82 Alfred Road East Tel: (215) 492-9338 Schaumburg, IL 60294 Merrick, NY 11566 Donald Stanek (RP) Randy Miller (AA) William Neumann (RP) 2862 Washington Street If you are visiting, job-hunting, moving or new 3150 North Shendan, # 1 3D 169 Charlton Avenue Easton, PA 18042 Chicago, IL 60657 South Orange, NJ 070/9 Tel: (201l859-2151 (0) Tel : (312) 327 -1153 (215) 252-2131 (H) to their area, the T-Birds marked " RP" will help Peter Nicholson (RP) you, If you'd like information about alumni Judy Purze (RP) 15 Jones Street, Apt I -A 1560 North Sandburg, ApI. 2206 New York, NY 10011 TENNESSEE meetings and activities in their area, the T -Birds Chicago, IL 60610 Tel : (212) 675-1056 James D. Robinson, IV (RP, AA) Ballew, Reinhardt, ASSOCiates , Inc. Myron (Mike) Schmidt (RP) Sherman J. Olson (RP,AA) 8. marked " AA" will advise you of times and 5050 Poplar, SUite 1400 Clticorp Leasing 37 Dodie Drive MemphiS, TN 38157 places, Let me know if you'd like to add your SUite 346 Parsippany, NJ 07054 Tel : 454-0393 name to this distinguished list of AGSIM alumni 2250 East Devon Tel : (212) 964-4990 Des Plaines, IL 60018 Richard Ragsdale (RP) Carlos Orchard (RP) who are proudly serving their School and other Tel : (312) 296-2070 817 Rodney Dnve NOSAMCO Services, Inc. NashVille, TN 37205 distinguished alumni world-wide, Jesse Wilson (AA) 60 East 42nd Street c/o Thomas H. Miner 8. Assoc. Lincoln BUilding John D. Walker (RP, AA) 135 South LaSalle Streel New York, NY 10036 State of Tennessee Chicago, IL 60657 Tel : (212) 697-6485 Inl'l Marketing DiviSion Tel : (312) 236-8745 1004 Andrew Jackson Building ARIZONA Craig A. Starkey (RP, AA) Richard Saint-Amant (AA) Box 1122 NashVille, TN 37219 Noble Blackshear (AA) Inl'l Banking Officer Rancho Sante Fe, CA 92067 INDIANA Tel: 1-800-251 -8595 c/o Anzona Bank c/o United California Bank Inl'l Tel: (714) 756-2692 Robin Hess (RP) 101 North Frrst Avenue 630 Fifth Avenue 242 Monterey Avenue TEXAS PhoeniX, AZ 85303 New York, NY 10020 Terre Haute, IN 47806 Houston Bnggs (RP) Tel: (602) 262-2000 COLORADO Tel: (212) 977-2421 S. Robert August (RP) Tel : (812) 234-3376 3519 Bremen Ken Nelson (RP, AA) James A. Thompson (RP, AA) Director of Marketing Michael Ribolla (AA) Dallas, TX 75206 6720 North 18th Place 21 Bnant Avenue The Ranch 3220 East Jackson Boulevard Tel : (214) 821-5494 PhoeniX, AZ 8501 6 MOrriS Plains, NJ 07950 11853 Pecos Street Elkhart, IN 46514 LOUIS Molinar (RP) Tel: (602) 265-2033 Gary L. Woods (AA) Denver, CO 80234 Tel : (219) 294 -2967 c/o Bell Helicopter 500 East 77th SI., ApI. 1009 Larry O'Bnen (RP) Tel : (303) 469-3377 1901 Central Dnve 7228 S. 43rd Way New York, NY 10021 John Cullinan (AA) KANSAS Bedford, TX 76021 PhoeniX, AZ 85040 c/o Valley Lab George Hiller (RP) (Albany) Tel : (817) 267·8161 Barbara Stewart (AA) 5920 Longbow 77 t 2 Tomahawk Road Robert Ballinger (RP) Dave Trolt (RP, AA) 4447 West Solano Drive Boulder, CO 80301 Praine Village, KS 66208 Assl. Professor BUSiness Div. 6073 Village Glenn Dllve, #4228 Glendale, AZ 85301 Tel : (303) 530-2300 Siena College Dallas, TX 75206 Tel: (602) 939-9585 Llnlon Kingsbury (RP) LOUISIANA Albany, NY 12211 Tel : (214) 691 -5857 (H) Tel : (518) 783-2300 (214) 386-2388 (0) (Northern) Klnsgbury 8. ASSOCiates Keith Cromley (RP, AA) CALIFORNIA 1217 Royal 300 Garden of the Gods Rd. (Roche.ter) (Houston) Bruce Eberly (AA) SUite 208 New Orleans, LA 70116 R. Wayne Walvoord (RP) 448 Studio Circle, #3 Colorado Springs, CO 80907 Tel : (504) 524-9834 PreSident of Inl'l Trade Earl V. Dragics (RP) San Mateo, CA 94401 10162 Haddington Tel : (303) 599-9696 Robert Hesson (RP, AA) Management Company, Inc. Tel : (415) 981-6700 (0) Houston, TX 77043 Timothy C. Walker (RP) MISSISSIPPI Marketing Council 14 Franklin SI. (415) 344-9417 (H) Tel: (713) 464-9768 P.O. Box 54 Manager, International Trade Div. Temple Building LOUise Ure (RP) Colorado City, CO 81019 SUite 324, Internallonal Trade Mart Rochester, NY 14604 Bruce Blankenship (RP) 120 Green Street Tel : (303) 676-3353 (O) 2 Canal Street Tel : (716) 232-5530 Box 5246 San FranCISco, CA 94111 (303) 676-4191 (H) New Orleans, LA 70130 Lubbock, TX 79417 Roland J. Willits (AA) Tel : (504) 524-7114 NORTH CAROLINA 4544 Via Madnd FLORIDA Tom Wong (RP, AA) WASHINGTON Union City, CA 94578 Ed Dombroski (RP) MARYLAND c/o The Siosman Corp. Chuck Hazen, Jr. (RP, AA) Tel : (415) 471-6005 Capital Ventures Inl'l K.A. (Casey) Cummings (RP) P.O. Box 3019 17810 184th NE 5151 Adason SI. 9108 Deviation Road Asheville, NC 28802 Woodinville, WA 98072 (Fresno) Orlando, FL 32804 Baltimore, MD 21236 Tel : (206) 788-3295 Roland Garcia (RP) Mark Faller (RP) Bruce Wallace (RP) OHIO Haven Stewart (RP) 4325 West Shaw, #B Box 155, RFD #1 John Blaine (RP) 4270 Whitman Avenue N. Fresno, CA 93711 534 Orange Dnve, #27 Hydes, MD 21082 6710 Somerset Dnve Seattle, WA 98103 Tel: (209) 442-8100 Altamonte Spnngs, FL 32701 Tel : (305) 331-0929 (H) Tel : (301) 592-2811 Brecksville, OH 44141 Tom 8. June 'Pearson' Sweelser (RP) CALIFORNIA (Southern) Bruce Harris (RP) Harry Cockrell (RP) 3730 Lake Washington Blvd. S.E. MASSACHUSETTS c/o Ridge Tool Co. ApI. #l-D Jim Dale (AA) 2514 South Fairway Dnve Jay Donovan (RP) 400 Clark Street Bellevue, WA 98006 c/o Villa Nova Melbourne, FL 32901 Elyna, OH 44035 3131 West Pacific Coast Hwy. Tel : (305) 727-4000 (0) 12 Jones Ave . Wilmington, MA 01887 Tel: (216) 323-5581 WASHINGTON D.C. AREA Newport Beach, CA 92660 Robert Michaud (RP) Roy Daugherty (RP) Steven W. DeLateur (RP, AA) Jeff Ruby (AA) 2204 Colonial Dnve Phillippe Deymes (RP, AA) c/o Cleveland Pneumatic Co. 1111 Army-Navy Dllve, A-308 1342 South Tierra Siesta Melbourne Beach, FL 32901 Morgan Manor #50A Starwood Dnve 3781 E. 77th Street Arlington, VA 22202 Walnut, CA 91789 Cleveland, OH 44105 Tel : (703) 521-7646 (H) Tel : (213) 330-0666 (0) GEORGIA Lenox, MA 01240 Tel: (413) 637 -2811 Tel: (216) 341 -1700 (O) (202) 566-8842 (0) W. Lawrence Schaeffer (RP, AA) Annalee Hixson (RP) Thomas G. Hackim (RP, AA) John Votta (RP) 770 West Impenal Ave ., Apt 30 2550 Akers Mill Road, #C20 MICHIGAN Owens-Illinois 1 Walter Circle EI Segundo, CA 90245 Atlanta, GA 30339 Leonard J. Kistner (RP, AA) P.O. Box 1035 Fredericksburg, VA 22401 Tel: (213) 322-0935 Arthur Lucas (RP, AA) Gen. Adm. Manager Toledo, OH 43666 Tel : (703) 752-2409 Lucas ASSOCiates, Inc. Michael A. Theime (RP, AA) Clark International Mktg., SA Tel: (419) 247 -2938 (0) 3379 Peachtree Road NE Mltsu B,sh, Bank of California Buchanan, MI 49107 (4 19) 475-0365 (H) WISCONSIN 800 Wilshire Boulevard SUite 350 Tel: (606) 966-4580 (0) Anf Hafiz (RP, AA) Thomas J. Metcalf (RP) Los Angeles, CA 90017 Atlanta, GA 30326 c/o Ridge Tool Co. The Gem Boutique Tel: (213) 621 -1211 Tel : (404) 266-2772 (0) Diana Methven (RP, AA) 1825 Yosemite, ApI. 9 400 Clark Street 636 West Washington Rodney Taylor (RP, AA) B~mlngham , MI 48008 Ely"a, OH 44035 Madison, WI 53703 (San Diego) A. T. Kearney, Inc. Te1:(216) 324-3556 John D. Willyard, II (RP, AA) Ron Thomson (RP) Management Consultants 312 East Wabash 14805 Pnscilia SI. 223 Penmeter Center Pkwy., N.E. MINNESOTA Allan Welch (RP) Waukesha, WI 53186 San Diego, CA 92129 Atlanta, GA 30346 Mary McMunn (RP, AA) 14914 Lake Avenue Tel : (714) 744-3011 (0) Tel : (404) 393-9900 (0) 1671 Juliet Avenue, South Cleveland, OH 44107 (714) 487-6192 (H) SI. PaUl, MN 55105 Tel : (216) 228-5194 Tel: (612) 888-7223 12 OTHER COUNTRIES CANADA FRANCE ITALY NETHERLANDS ANTILLES Ray M. Bruyere (RP, AA) Peter Cover (AA) Barton L. Hartzell (RP, AA) Ian D. Campbell (RP, AA) SOUTH WEST AFRICA c/o Bank of Montreal 2 Rue Andre-Pascal Parco Claris 2 Blauwduifweg 8 Bill Vaught (RP) 129 SI. James Street W. 75775 Paris Villa No. 31 Curacao, Netherlands Antilles Nord Mining Exploration, Ltd. 9th Floor CEDEX 16, France Coppola Pinetamare 81030 P.O. Box 3676 Montreal, Quebec, Canada Peter Dombrowski (RP) Castel Voiturno NORWAY Windhoek, South West Africa H2Y lL6 51153, Rue des Belles Feuilles C.E. Knud Mercoll (RP) Italy Satjiv Chahil (RP, AA) 75116 Paris, France Colbjorwewsgy 13 ALGERIA Hampton # 170B William T. Walsh (RP) Oslo 2, Norway Robert S. Malott (RP, AA) 322 Eglinton Ave. East GERMANY Via Dei Coronari 222 Tel : 44-35-61 Calcusearch, Inc. Toronto, Ontario M4P 1L6 Roma, 00186, Italy Alfred C. Hamburg (RP) Jan Strange I (RP) Boite Postale (B.P.) # 119 Canada Barmerstr 33 Selje Bruk A/S Arzew, Algeria Norman Mcintosh (RP) Dusseldorf II, Germany JAPAN 6740 Selje, Norway ARGENTINA 1375 Prince of Wales Drive, ApI. 1812 Manfred "Lo" Locher (RP, AA) Michael B. Powell (AA) Ottawa, Ontario, Canada K2C 3L5 7900 ULM Do c/o Alico Japan PARAGUAY Robert B. Garrison (RP) C.P.O. Box 953 Bessererstr 9 John Zavala (RP) Corrientes 441 Tokyo 100-91, Japan CHILE 0731, West Germany Av. Mcal. Lopez 1532 1317 Buenos Aires, Argentina Tel: 03-212-0411 Max Krauss (RP) Asuncion, Paraguay Axel Mees (RP) 03-952-2370 Patricio Seidel (RP) c/o Triumph Int'I de Chile Ltd. Fuchsbau 124, Ungererstr 19 24 de Mayo, 166 Luis Thayer Ojeda 1250 8000 Muchen 40 Terence M. Esmay (RP) PERU Santiago, Chile Meitsu-Dailey 7 Piso BMW-AG, West Germany Hector Cespedes Bravo (RP, AA) Capital Federal, Argentina 1-1 Nishi-Shimbashi Tel: (089) 3895-5233 Constitucion 292 Tel: 743-56010 Nimato-ku COLOMBIA (089)394440 Callao, Lima, Peru Tokyo, 105, Japan AUSTRALIA Greg Grinnell (RP) Security Pacific National Bank GREECE PUERTO RICO Emory A. Morris (RP) KENYA Calle 40 #13-09 Denis Gavanas (RP) Jerome E. Firsty (RP, AA) 26 Underwood Street Jim Walton (RP, AA) Apartado Aereo 92434 Sanavag Assoc. GP 2150 Calli Cacique Padding ton, N.S.w. c/o Koehring Int'I Bogota, Colombia P.O. Box 1622, Syntagma Square Santurce, Puerto Rico, 00913 Nairobi, Kenya 2021 Australia Tel: 2698094-2698134 Athens 126, Greece Tel: 726-1102 Dave Wallace (RP, AA) Gabriel E. Cuellar (RP, AA) Dean Johnson (RP, AA) KOREA 726-1796 Lot 8, Lane Cove Road Apartado Aereo 90877 Dragatsaniou 7 723-3491 Jung-Bae Kim (RP) Ingleside N.S.w. 2101 Bogota, Colombia Voula, Athens, Greece Bob & Gloria Shuman (AA) Asia Cement Mfg. Co. Ltd. Australia Tel: 8954323 c/o Robert Shuman & Associates Tel: 02-992-139 Napolean & JoAnne (Spatz) 7th Floor Dae Hah Bldg. Box 1393 De Var9as (RP, AA) 75, Seosomoon Dong GUATEMALA Hata Rey, Puerto Rico BAHAMAS Carrera 21 #51-38 Chung-Ku, Seoul, Korea Bogota-2-Colombia Ethan Book (RP) John F. Tomlinson (RP, AA) Suzanne J. Black (RP, AA) Jae Suk Lee (RP, AA) P.O. Box 2070 Caribbean Properties, Ltd . Allied Bank International Luis I. Mejia-Maya (RP) c/o Korea Development Bank c/o Bank of America 171 De Purque P.O. Box N-3944 Calle 17 #4-68, ApI. 1704 C.P.O. Box 28 Guatemala City, Guatemala San Juan 00911, Puerto Rico Bogota, Colombia Seoul, Korea BAHRAIN Susan Rybar (RP) Tel : 725-7365 COSTA RICA P.O. Box 491 KUWAIT Gunter H. Kohlke (RP) Guatemala, Guatemala PORTUGAL AWALCO Jim Dahlstrom (RP, AA) Riad Marei (RP, AA) Tel : 681602 Marvin & Diane (Clauss) Huth (RP , AA) P.O. Box 741 c/o Super Sercicio c/o Y. Alghanim & Son Casa Amarela Manama, Bahrain Apartado 992 P.O. Box 223 HONG KONG Rue das Nogueiras, Torre San Jose, Costa Rica Kuwait Joseph & Arlett Miller (RP) Tel : 22-55-44 Allan S. Cheng (RP, AA) Cascais, Portugal P.O. Box 25029 Tel : 269-41-410 James Stanley (RP, AA) c/o Meyer Mfg. Co. Ltd. Awali, Bahrain 330 Kwan Tong Road LESOTHO Tel: 1605 (local) Apartado 5181 Mary Carney (RP) San Jose, Costa Rica Hong Kong SINGAPORE 750005 (outside) P. O. Box MS 682 Bill Good (RP, AA) Bill Tak-Ming Ling (RP, AA) James W. Echle (RP, AA) Maseru, Lesotho Salsbury International, Inc . Apartado 1266 c/o CCAA International Ltd. BOLIVIA 167 A Goldhill Shopping Centre San Jose, Costa Rica 10th Floor, Ka Wah Bank Bldg. John P. Kluever (RP) 259-265 Des Voeux Rd ., C. LI BERIA Thomson Road c/o IBM de Bolivia S.A. Hong Kong Marvin G. Dole (RP) Singapore 11, Singapore Casilla 1061 DOMINICAN REPUB LIC Liberia Tractor & EqUipment Co. C. Gregg Wadas (RP, AA) Dick & Sandy Hasenpffung (AA) La Paz, Bolivia Sherry Dolores Greaves (RP) P. O. Box 299 Trade Med ia Ltd. Monsanto Singapore, Ltd. CARE-Dominicana MonrOVIa, Liberia BRAZIL Alpartado 1411 P.O. Box K-1786 26th Floor. Clifford Centre Santo Domingo, Dominican Republic Kowloon Central P.O. Raffles Place Mark Abrams (RP) Hong Kong B.C.C. LIBYA Singapore 0104 Rua Carlos Millan, 22 Apto. 121 Peter A. Holmshaw (RP) William (Bill) Wagner (RP~ Jaidim Paulistano EGYPT INDIA c/o Energy Support Engineering 197 B. Goldhill Centre Sao Paulo, Brazil George T. DeBakey (RP) Box 2063 Y.G. Dwarkanath (RP, AA) Thomson Road 15 Radwan EI Tabib Tripoli, Libya Dolph' Johnson (RP) 11th Floor SRI Krishna SPG & WVG Mills Singapore 11, Singapore Rua Barao de Guaratiba 218/303 Subramanyapura Giza, Egypt Chin Wah Ying (RP) Gloria ZC-O 1 Bangalore 11, India MEXICO 58 Hillcrest Road Rio de Janeiro, 20.000 Brazil Victor Alfaro (AA) EL SALVADOR Aguascalientes Singapore 11, Singapore Aloysio Vasconcellos (RP, AA) INDONESIA John R. Arnold (RP, AA) 7 vls-#l Tel : 664668 Caixa Postal 64022-ZC-07 Daniel J. Goldsmith (RP, AA) Arnold Enterprises MeXICO 7, D F Mexico Leme-Rio de Janeiro, Brazil Box 1111 P.T. Prodenta SPAIN P.O. Box 41 O/KBY Craig Dudley (AA) Roberto Bumagny (Paula) (RP, AA) San Salvador, EI Salvador C. Michael BenniS (RP, AA) Jakarta Selatan Rio Rhin #77, Penthouse Rua Monte Alegre Pena S"io Indonesia Mexico 5, D. F. Mexico 1352 Apto. 6, Perdizes Colonia de Mirasierra ENGLAND Hector Holland (RP) 05014, Sao Paulo, Brazil Bo Lower (RP, AA) Madrid 34, Spain Ashok D. Patel (RP) 1120 Sierra Paracaima Anthony B. da Silva (RP) Marine Midland Bank Manager, Business Development Lomas de Chapuitepec c/o Ingersoll-Rand S.A. P.O. Box 2680/JKY SWEDEN Middle East and Africa Jakarta, Indonesia MeXICO 10, D. F. Mexico Centro Empresarial de Sao Paulo Continental Can Int'I Corp. Claus T. Morch (RP) Joe Petryshyn (RP) Av. Maria Coelho Aguiar 1-3 Williams Street Ekeby Skogsv 15 IRAN c/o Firestone el Centenario, S. A. Jardim Sao Luiz, Sto. Amaro, Brazil Windsor 2L4 1 BB 16265 Djursholm Mariano Escobedo No. 195 545-4422 Berkshire, England Ed Auble (RP) Sweden Iran International Insurance Co. Mexico 17, D. F. Mexico Dennis J. Orio (AA) Jack Taylor (RP, AA) Rua Itambe 96, Apto. 151 8 Zohreh Street off Roosevelt Avenue SWITZERLAND Diversey Ltd. Tehran, Iran MOROCCO 01239 Sao Paula, Brazil ESP Bernhard G. F. Edgar (RP, AA) Weston Favell Centre Tel : 624584 (0) Ben M'Hamed Amraoui (RP) Oberhasli 3 Northamptonshire NN3-4PD 241529 (H) 267 Boulevard Mohamed V BRITISH WEST INDIES 6005 Lucerne United Kingdom Casablanca, Morocco George E. Grimmett (RP) Tel : Towcester 50823 Nersi Sahba (RP, AA) Switzerland Karin Khan Zand Blvd. Philip R. Hanson (RP) Global Profits Ltd. Gary T. Wuetig (RP) John R. Svalander (RP, AA) Behjat Abad Apts. 31, Rue Moulay Rachid P.O. Box 1579 Grand Cayman BP Chemicals (Suisse) SA International Harvester Block #8 #24-C Rabal. Morocco Cayman Islands 8c, Avenue de Champel. Box 291 Payline Marketing Tehran, Iran British West Indies 730 London Road NETHERLANDS CH-1 211 Geneva 12 Tel: 9-2210 (60) Hounslow TW3 1 PH ISRAEL Switzerland Middlesex, England Alexander L. Barge (RP,AA) Tel : (022) 46-77-47 Shaul Bakhash (RP, AA) c/o I Nachtegaallaan 22 Gordon SI. 2243 EI Wassenaar Givatayim, Israel Netherlands Tel : 01751-79332 (H) 010-143777 (0) Continued next page 13 CLASSOF'58 CLASSOF'66 William H. Cunningham is general manager Leavitt Ahrens, Jr. is working for Blue Bell, Inc ., with Kraft Foods, SA He is living in Panama. in Greensboro, North Carolina. Ralph W. Callahan Jr. is residing in Greenville, South Carolina and working for Young & Rubicam CLASSOF'59 International, Inc. M. Tammami is currently Dave Hansen was recently transferred from the living in Geneva, Swtizerland. Cargill Grain, Inc. office at Tuscola, Illinois to the Cargill office at Minneapolis, Minnesota. CLASSOF'67 Thomas E. Cantwell, Jr. has been promoted to CLASSOF'62 regional transportation manager with American William Hartley and Shirley Wood Hartley Express in Plantation, Florida. John R. Ryan is are living in Miami, Florida. Mr. Hartley is export now employed with Bechtel Corporation in manager with Coral Gables Int'I Sales Center of Riyadh, Saudi Arabia. CLASSOF'48 Goulds Pumps, Inc. Stephen G, Heiner has Norman Gray has retired. He and his wife, Jean, been elected a Fellow of the Institute of are living in Sunriver, Oregon. Petroleum. He lives in Manila, Philippines. After CLASSOF'68 15 years of service with Mobil Oil Corporation, Walter B. Barley has been named vice Frederick R. Knarr will retire on January 1, president of United California Bank, London. CLASSOF'50 1980. Mr. Knarr and his wife, Carol, plan an Henry and Maureen Batchelder are living in Malcolm F, Gleason is vice president and enjoyable retirement. "Between our house at Cairo, Egypt. Mr. Batchelder is working for manager of the Tokyo, Japan branch of the First Lake Tahoe and our CT-41 sailing ketch "Carrie Citibank, N.A. Christopher Diu is a travel National Bank of Boston. Philip A, Toll is Mia," based in Singapore, we hope to cruise consultant for VISA Travel, Inc. James controller for the human resources information extensively in the South East Asian waters as a Kowalczyk is assistant to the president for services of Mobil Corporation. starter," he said. Metropolitan Savings Bank. Joe Ringer has left Bank of America and joined Bank of the Southwest in Houston as vice president in the CLASSOF'52 CLASSOF'63 international department. William M. Robinson Donald K, Wilde is now working for B.F. Rafael A. Velez Candelario was named is working for Chase Manhattan Bank, NA at the Goodrich in Ohio. assistant vice president in the corporate World Trade Center in Hong Kong. Timothy C. services division of the Banco de Ponce in Walker was appointed to a position as vice Puerto Rico. James McKeown, Jr., has been president of marketing for DO-RAY Lamp CLASSOF'54 named assistant manager for the Grand Company, Inc., in Colorado City, Colorado. Charles Whitcomb has been named vice Junction, Colorado office of the United States chairman of the Barnett Bank of Miami. His Department of Energy. daughter Laura is currently enrolled at the CLASSOF'69 Thunderbird Campus. John P. Barelli is senior attorney with United CLASSOF '64 Telecom Service, Inc., in Kansas City, Missouri. Edward L. Frey is executive vice president with H. Reed Nelson lives in Fillmore, Vermont. He is CLASSOF'55 Miles-Kyowa Co. Ltd., in Tokyo, Japan. Michael employed with Castle & Cooke Foods. Eric E. Ericsson has formed his own business B. Powell is regional director of mass in London as an international representative for marketing in the Far East for American small to medium size businesses who operate in International Group, Inc. He has been living in CLASSOF'70 Europe. Mr. Ericsson is pleased with the success Japan for five years and travels extensively in George Lapp was recently named marketing of his new business. Ernest A. Parada, formerly the Far East. William S. Stout has been specialist for Uniroyal Chemical Company's vice president and marketing manager at promoted to manager of international markets Vibraspray, Naugatuck. Joseph and Arlette Molinos de Puerto Rico (Con Agra), has been for Honeywell'S Residential Control Center. Miller are working for XAL TEX at the Bahrain appointed president-elect of the Sales and Petroleum Corp. Refinery. Mr. Miller is working as Marketing International at the organization's a specialist in management and supervisory 44th International Marketing Congress in Twin CLASSOF'65 training. Mrs. Miller is an international compen­ Cities, Minnesota. David Chen and his wife, Tamiko, have moved sation analyst in salary administration-employee to EI Paso, Texas after living in Chicago, Illinois relations. Frank J, Schiendler, Jr. is for 15 years. They are enjoying the good commercial specialist with W.H. Daum & Staff in CLASSOF'57 southwest. Newport Beach, California. Theodore D. Bihuhiak is with Union Carbide Corporation in New York City. Belmont F. Haydel, Jr. has moved to Lawrenceville, New CLASSOF'72 Jersey to assume the responsibility for his Thomas D. Duane is based in London, England father's estate. Mr. Haydel's father passed away as director of marketing of Europe for the U.F. in August. Corporation. Philip R. Hanson works for the State Department in Washington, D.C. Dallas L. Hensley is managing director with Tee-Kay Manufacturing New Zealand Ltd. Robert V. Contacts, continued Johnson and his family have moved to Jubail, TUNISIA Bruce & Marsha Crumley (RP, AA) Saudi Arabia. Mr. Johnson works for Arabian Scott K. Johnson (RP) c/o FMC Int'l Bechtel Company Limited as a systems and THAILAND 63 Ave. de L'lndependence Aparlado 50205 Norm Baum (RP) Le Bardo, Tunis. Tunisia Caracas. 105. Venezuela procedures supervisor. Nick Lazos has been House of Siam, Ltd. Susy Kulsar (Sagy) (RP. AA) reassigned to Laing/Hellenic Aerospace Green P. O. Box 2661 VENEZUELA Aparlado SOB 17 Program. He will be working with the program Bangkok 5. Thailand Gregory Buchaj (AP) Caracas, 105, Venezuela until at least March of 1980, and will then be Cliff Bevens (RP. AA) c/o Chrysler de Venezuela Ingrid POdbewchak (AA) reassigned elsewhere. Robert P. Mosier has c/o Goodyear In!'1 Corp. Aparlado 770. Valencia, Venezuela c/o IBM de Venezuela Sirinee Building Dplo. De Tesoreria, Aplo. 3BB been named president and chief operating 51 B/4 Ploenchit Road Caracas, Venezuela officer of the Delta Steamboat Company. Bangkok, Thailand Thomas Perantie is a program analyst for Tel: 252-6141 NASA. Thermchal Phlnyawalana (RP) clo Chase Manhattan Bank G.P.O. Box 525 Bangkok. Thailand 14 CLASSOF'73 employed as production manager for Firestone position with Mitzu-Bishi International Max J. Buxton has been named manager of Tire and Rubber Co. The couple reside in Corporation in New York City. He will be working Portland international sales for Boise Caseate Portugal. Steven R. Hering is international in the chemical department. George McReddie Corporation's wood products marketing banking officer with First Wisconsin is working in the international department of the operations, headquartered in Portland, Oregon. International Bank in New York City. Chris National Bank of Dallas. Charles Nunu is Harry A. Cockrell is working for the National Kroos has accepted an assignment as regional merchandiser with Continental Grain Company Commercial Bank in Riyadh, Saudi Arabia. After director for the Middle East with Chrysler in Guntersville, Alabama. Jerome S. Sanzo is completing a two year leave of absence from International Distributor Operations. Chris and an international department trajnee with Chase Manufacturers Hanover Trust Company, Dennis his family will be based in London, England. Manhatten Bank. Robert F. Simpson is a Ferguson has officially resigned. He plans to Bryan D. Manning has been transferred from financial analyst with Ray Midland Bank. remain on the staff at the Volunteer Urban Cranston, New England to northeast England, Consulting Group. George F. Hardy is now where he works for Elmwood Sensors, Inc. Ms. employed with Shulton International American Meryl Maxwell is product manager with CLASSOF'79 Cyanamid Division in Wayne, New Jersey. Alberto-Culver Company in Illinois. Axel Mees Barbara L. Armour works for AM Telephone & Jeffrey K. Ramsdell is account executive with joined BMW in Munich, Germany as manager­ Telegraph in Virginia Beach, Virginia. Marsh and McLennan, Inc ., in Los Angeles, logistics long term planning. John M. Phillips is Mohammed A. Azab is in charge of the shares California.Katsuhiko Ueda, who moved to director of international planning and and bonds department of the Jordan Arab Jeddah, Saudi Arabia in December, 1978, is administration with PCA International, Inc. He Finance Corporation. He is currently training in solvents and paints manager with Mobil Saudi resides in Clover, South Carolina. Christine paris and London. Paul Milo is working for Arabia, Inc. John Willyard is manager with the Schoen mann has been made banking officer in Corning Glass in Wheaton, Illinois. Martha Foreign Credit Insurance Association based in the international banking department at Navar is a credit analyst with Mercantile Houston, Texas. Thomas C. Wong, Jr. has Continental Illinois National Bank and Trust National Bank in Dall as, Texas. Steve Orr is been appointed to assistant vice president of Company of Chicago.Christine M. Wilfer is working in the foreign exchange division of National Central Bank. He was formerly with the assistant controller with Molinos Nacionales in Chemical Bank in New Yor.k City. Peter H. Siosman Corporation of Asheville, North Guanica, Puerto Rico. Spielmann is with GTE in Caracas, Venezuela. Carolina. Barbara Ann Stone has been appointed marketing analyst in the market response CLASSOF'77 division of Management Decision Systems, Inc. CLASSOF'74 Storage Technology Corporation has employed in Waltham, Massachusetts. Greg Topp Michael E. Bixler has been promoted to Riad Aweida. Cynthia Benci is a marketing accepted a position with Accuride as a product manager at Oscar Mayer & Company's representative for IBM. Ralph G. Bernfeld is production manager. The company general office in Madison, Wisconsin. Mr. Bixler living in Cologne, West Germany, and is manufactures precision slides in Los Angeles, joined the company in 1974 as a sales trainee. employed with Deutsche Goodyear GMBH. California. Irvin S. Varkonyi has been Eric Bjerke recently moved to Boston, David M. Chicka is a financial analyst with appointed regional cargo sales representative Massachusetts and is working as manager of Ford Motor Co. Steven D. Clarke is currently for northern New Jersey and New York State international accounts receivable with Codex pricing and research manager in the Southern with KLM Royal Dutch Airlines. Corporation. Kenneth Campbell is territory Pacific division of International Harvester manager for Formfit Rogers Inc. Richard Company Construction Equ ipment Group. Mr. Choquette has joined Vanity Fair as a special Clarke's position provides him with the ENGAGEMENTS assistant to the president in the international opportunity to travel. Mary Babs DeMeritt is Kenneth Lambert, '77, and Mary division. The company operates in New York working for the Center for Creative Leadership Kolehmainen, '77, are engaged. Mary City. Charles A. Peterson is working for as product marketing coordinator. She lives in Francis Secunda, '72, is engaged to Douglas Professional Planning Associates in Phoenix, Greensboro, North Carolina. Edward Engli sh James Fencl. Arizona. Martha Anne Taber is vessel has been promoted to legislative department coordinator with Cargill, Inc. manager with Family Health Program in Long Beach, California. Raul F. Sanchez-Elia is MARRIAGES product manager with R.J . Reynolds Tobacco Scott Douglas, '78, married Sara Ann Earon CLASSOF'75 Company. John Garza is a production last October 6. The ceremony was held at the Elaine Bradson is export manager with supervisor with Weyerhaeuser Co. in Vancouver, Grace Episcopal Church in Lockport, New York. International Paper Company in New York. Washington. Vickie A. Griswell is working for Mr. Douglas' best man was John Garza, '77. George M. Fronske is employed with First Storage Technology Corporation as a corporate Nancy Fuhrman, '79, and Peter Martin, '79, National Bank of Arizona in the foreign policies and procedures analyst. Robin married in November. They both thank collections department. Beth Perry is a real Gurovitsch is a market analyst for Church's "Thunderbird, Berger 'M r. T- Bird ' Erickson, Dr. estate broker with Bryant Real Estate/ERA. Fried Chicken in San Antonio, Texas. Richard D. Voris and everyone else out there for bringing us Deborah Smith is now with LW. Stein Moore is vice president and general manager of together. We plan to live happily ever after." Associates, an executive search firm located in Puerto Rico Broadcasting, Inc. As a marketing Caroline M. Greerlings, '78, married Peter de Manhattan, New York. She jOined the firm In representative for EDS Corporation, George C. Wolff on May 1 6, 1979. Moira Gomez, '77, September. Ron Thomson is president of PRN O'Keeffe lives in Richardson, Te xas. recently married Peter Madonia, '77. Elaine Health Care Assistance in San Marcos, C. Wason, '77, recently married a fellow California. As an employee of Upjohn Co., classmate, Paul B. Christiansen, '77. They Cynthia A. Young lives in North Hollywood, CLASSOF '78 reside in Dunwoody, Georgia. California. Nikolai Wasilewski is studying at Ann E. Butler is pleased with her position as New York University toward a Ph.D. in product developer for Amway Corporation in International Business. Ada, Michigan. Bernardo Giacometti is BIRTHS currently living in Buenos Aires, Argentina. He A boy, Alan Tyler, born to Penny and S. Robert will res ide there until this February. Michael and August, '75, on July 4, 1979. A boy, Craig CLASSOF'76 Kathleen Graham have moved to Houston, Richard, born to Marian and Richard King, '72, Kathryn D. Barrios is assistant treasurer with Texas. Mary M. Hartzler is now employed as a on September 16, 1979. A boy, Jonathan Mayo, the Chase Manhattan Bank, NA and will be technical representative with Du Pont Company born to Gertrud and John M. Phill ips, '76, on working with George Knittel. Michael F. in Irving, Texas. Skeet Holland is zone manager August 13, 1979. Chahine is a district representative for the of Mexico with Dairy Equipment Company. eastern province of Saudi Arabia with Fiat-Allis. Peter M. Kalil is currently employed as a staff Doug B. Fencl has been promoted to parts and assistant to U.S. Senator John A. Durkin (0 - DEATHS service sales representative to the Caribbean N.H.) , in his Manchester, New Hampshire office. Paul M. Barnes, '49 has passed away. He is Islands for Caterpillar America. He will be Mark Larsen is employed with Cochise Airlines survived by his wife, Betty. Mr. y. Mackie residing in Miami, Florida with his wife, Janet. in Tucson, Arizona. Gerardo Machado is Cornwall, '62, has passed away. Diane Clauss Huth is group brand manager­ regional marketing manager with Polaroid Inter­ new products, for the Johnson and Johnson american, SA He is living in the Colon Free marketing department. Marvin Huth is Zone of Panama. Peter Martin has accepted a 15 Estate Planning - a financial alternative

(Editor's note: The introduction to the Marie and George Spivens were both Careful planning has resulted in following article is fictionalized) graduates of Thunderbird who had many financial advantages for the studied under the cross cultural Carstens and Spivens because they Fred Carsten was prepared to retire communications program. The supported the Thunderbird Campus, a after a successful executive career. He Spivens had hoped to contribute nonprofit institution. This practice is had acquired considerable real estate $10,000 to the program, but also commonly known as estate planning. over the years and among his prop­ needed the income on that money. Many people believe estate planning erties was a large ranch. Carsten American Graduate School of is only for the wealthy, but everyone considered selling the ranch and International Management (AGSIM) who owns property or has a bank investing the profit in order to provide was able to provide the answer. The account has acquired an estate. himself with extra retirement income. Spivens donated the money to the Though state and federal regulations But soon, he discovered that if he did school, and now they receive quarterly require tax levies on certain estates, so, he would be subject to a large income checks and will continue to as only individuals may decide what to capital gains tax. long as either one lives. Thereafter, the do with their property. By investing in A friend suggested that Carsten principle on the money will be used in AGSIM, the lowest possible tax liability contact his almfl mater, the Thun­ the cross cultural communication can be obtained. derbird Campus, and as a result he program. In order to plan an estate, prepara­ transferred the ranch to the school, tion of a will is vital. Unfortunately, which sold it for a good price. Carsten ...... many people don't plan a will. As a avoided having to pay the capital gains result, estates are divided according to tax and he and his family will receive state laws. income on the total amount as long as It is advised that everyone prepare a anyone of them lives. Carsten's heirs will. Accordingly, people who had will save on estate and probate costs. wills prepared years ago should have them reviewed by their attorneys ...... because new laws adopted by Congress have resulted in changes concerning marital deductions, capital gains tax, etc. Those wishing more information should contact their attorney or return the coupon below to: American Graduate School of International Management, Thunderbird Campus, Glendale, AZ 85306, Attn: Dr. Robert Horn.

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Jack Abrahams Glenn M. Englund William D. Lowe James W. Sandifer Edmund E. Tomlinson Herbert H. Adams Abraham A. Farber Oscar B. Lynott Alta Warner Saunders Lloyd Valdez Whitman K. Alger Norman E. Farr Lester J. Maasch Stanley L. Scharf Richard W. Van Atta Robert Ernest Anderson Alexander Feig Milton Marsh Robert J. Schiffhouer Chester J. Voloshik Cecil C. Bacheller E. Bruce Ferguson John B. Mateer William W. Schuette Lester H Wakefield Edmund F. Barnes Jr. Robert P. Fortune Roscoe M. McCanne Lex C. Scott Woodrow W. Wallis Fred E. Beggs John P. Garriott James S. McCormack Jr. Jack T. Sergent Mrs. Alta J. Warner Edwin S. Belknap Frederick P. Gee John F. McCor ick Coleman H. Shaunty Robert C. Welch Elsie C. Bell Robert C. Glendinning Frank S. McDol\lald Edward Slovick Glenn W. White Francis B. Bennett Frank W. Greer Ed ara B. McGettrick Herbert Slovick Henry C. Whiting Jr. Robert E. Black Manuel Guevarr Brian-J. McKier an John A. Stelzer Henry L. Willis George H. Blake Wade Hampton AlblO H. McLe Ian John C. Strouse Robert T. Wood R. Edwin Blakeley James L. Hannah Robert F. McMahon James if. Taylor Alvin W. Wright Jr. Gerald Blanton Melvin Hansen Carl Meadows Frank M. Thatcher Jackson Wright Mark S. Blutman Joseph A. Harlin John E. Meier Richard A. Thornburg Norman G. Wright Joe K. Bolin William L. HarSington Owen . Mercer Joseph A. Bono John D. Harris Jr. Elwin I. erri1l Irving B. Bricken Benjamin J. Holt Robert E. Mol5erly We need your help! If you know John D. Bridge Jr. Joseph S. Horan Duane K. Mong the whereabouts of any of these Roger J. Brothers John L. Hunnicutt Walter M. Moore Jr. people, please fill out the cut-out Kendell E. Brown Sam A. Ilitzky William C. Moore below and mail it to: Eugene F. Buck Robert S. Jewett Euge e Morgan The Alumni Office George W. Bynum Leonard K. Johnson Wad HMorro American Graduate School of William J. Carter Jr. Lee S. Johnston Gerald H Mullan~y International Management Russell D. Carver Joe H. Jolly Robert F. Neff Thunderbird Campus Henry J. Ciesla William B. Joy Jr. Howard S. Nelson Glendale, Arizona 85306 Joe L. Cochran Warner L. Kennon Leroy B. Nelson By providing our office with this John C. Cochran Warwick W. Kintz Lloyd H Nelson information, you assist us in tracking Joseph P. Cole Jr. Richard T. Klas 1 hn F. Nielsen the success of our graduates. William D. Cole Truman A. Klungnes ndrew Nisbet Alumni addresses unknown will Thomas W. Cooley If. Meta Willis Korez Ben C. Novoa Flr;.;.. ___• appear consecutively by graduation Charles F. Cooley Stanley E. Krantz John Oconnell year in upcoming issues of this Nicholas J. DAnna James A. La Gasa Maurice D. Oconner publication. William M. Davis Edwin J. Lamb Thomas P. Oconnor James M. Deason Oscar W. Langston Sidney E. Painter Jr. Marcel A. Delugo William J. Lasarow Charles O. Ritter Paul J. Doran Robert E. Leckie Charles N. Roberts Aubert Durnell Fred A. Leisering Clarence W. Robinson Jr. John J. Eggert Robert A. Ley James E. Ryan William S. Ellis Jr. Charles F. Linn William R. Ryan

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