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Willam E. Simon School of Business Rochester, New York 14627 Change Service Requested Connections ey Move Us Forward As a member of the Simon alumni network, you understand the power of Simon’s worldwide connections. They open opportunities, o er professional development, and enhance our reputation for excellence and success. We invite you to join us in New York and Chicago to connect your company with top Simon talent. • New York City • Chicago, IL October 4, 2013 February 28, 2014 January 24, 2014 Contact the Simon School Career Management Center for more information. E-mail: [email protected] Call: (585) 275-4881 SIMON SCHOOL OF BUSINESS/UNIVERSITY OF ROCHESTER Fall 2013 SIMONBUSINESS Connections ey Move Us Forward Approaching As a member of the Simon alumni network, you understand the power of Simon’s worldwide the Summit connections. They open opportunities, o er professional development, and enhance our How Doug Petno used reputation for excellence and success. what he learned at Simon to scale the heights of Wall Street We invite you to join us in New York and Chicago to connect your company with top Simon talent. SIMON • New York City • Chicago, IL BUSINESS October 4, 2013 February 28, 2014 goes digital January 24, 2014 Download Contact the Simon School Career Management the app on Center for more information. iTunes E-mail: [email protected] Call: (585) 275-4881 An International Welcome New flags welcome Simon students, faculty, staff, and visi- tors in the Colonnade between Gleason and Schlegel Halls. The flags say “welcome” in 68 different languages and represent every home coun- try of Simon’s internationally diverse student body and broad team of business education professionals. They also reflect our School’s worldwide reputation of excellence. It’s another way we welcome the world to Simon. JOHN SMILLIE WHO’S YOUR REPLACEMENT? Help continue the Simon tradition of excellence and refer a new student today. We trust our alumni to send us the very best. Invest in Simon today by referring top quality candidates to our MBA and MS programs. E-mail the name and contact information of potential full-time students to Rebekah Lewin at [email protected], or potential Executive MBA or part-time students to Carin Conlon at [email protected]. Contents Fall 2013 2 Dean’s Corner 3 The Meliora Challenge Simon and the University Prepare to “Make the World Ever Better” 6 Upfront Simon Receives $1.5M Commitment for Endowed Finance Professorship Simon Students Win at Mark Ain Competition Simon School Venture Capital Fund Makes First Two Investments Commencement 2013: A Legacy and a Future College Town Breaks Ground Novy-Marx on Government Pensions Simon in the News 40 Members of the Class Research Highlights 12 30 of 2013 celebrate The Pulse of Advertising Quantifying Culture Entrepreneurial Commencement The Benefits of Debt A new way to look at employee India outside the Eastman Blue Firms Give More Green engagement. By Sally Parker The second largest country in Theatre. Competition Drives Cash the world is seeing a new era 16 in economic development. 46 Continuity in a Crisis By Hilary Appelman Alumni Leaders How preparing for the worst can Online Extra www.simon.rochester.edu/ Scott Thomas be the best. By Charla Stevens 36 simonbusiness Vice President of Kucko Consumer Marketing, Indescribable India SIMON BUSINESS NOW Cartoon Network A remarkable country is OFFERS A DIGITAL Carol Lustenader 24 quickly becoming one of the EDITION. AVAILABLE CFO Consultant, Controller world’s top economic powers. IN THE ITUNES APP at The Asia Foundation Second Home STORE, AND AVAILABLE By Janice Willett ’78S (MBA) ONLINE, THE WORLD Michael Cirami Simon continues to expand OF SIMON IS AT YOUR CFA and Portfolio Manager into New York City. By Charla FINGERTIPS. DOWNLOAD at Eaton Vance Stevens Kucko 38 THE IPAD APP TODAY FOR Simon Leads A DYNAMIC MULTIMEDIA 49 28 the Way in Shifting EXPERIENCE! Alumni News A Successful Balance Strategies Photo Album In Memoriam Doug Petno ’89S (MBA) Global leaders discuss flickr.com/simongsb/sets Class Notes inspires graduating students. recruiting the right talent. SEE MORE PHOTOS FROM Mergers & Acquisitions By Joy Underhill By Andrea Holland SIMON EVENTS ANNETTE DRAGON Simon Business ◾ Fall 2013 1 Dean’s Corner A Network Connected Simon pride. It’s a value we instill in our students, and alumni will be notified of leads that are rel- and it’s a principle our alumni carry with them evant for their career search, and can then pursue throughout their careers. From expert and well-in- each opportunity according to your directions. You formed business decisions to being an active mem- can also sign up for the service if you would like to ber of an alumni network that spans the be notified of job leads that may interest you. globe, our graduates proudly claim their Across the country and around the world, Simon heritage and continue to find ways Simon graduates are also using our main LinkedIn to make the world an ever better place. page, which boasts over 4,000 members and more While the Simon School has pro- specific regional pages to become more involved duced its fair share of top-level execu- with local alumni chapters. I encourage you to find tives like our cover profile,Doug Petno out more about both the virtual LinkedIn alumni ’89S (MBA), we realize not every gradu- groups in your area, as well as the in-person clubs ate will scale the heights of a world-re- that regularly organize social and professional net- nowned financial institution, nor will working events. They offer an incredible resource it be the call for everyone. Many of our for continued career development and provide alumni receive their business degrees to beneficial networking and social opportunities to pursue challenging and rewarding ca- stay connected with your friends, classmates, col- reers in other established fields, while leagues, and other Simon alums. others embrace the spirit of entrepreneu- Social media and rism and thereby opt to pursue their dreams and Staying connected also helps us celebrate your pro- the spirit of entre- innovate the future. fessional successes and personal achievements. As preneurship offer No matter your career path, your accomplish- the standard bearers for the School, you are our a unique opportu- ments, expertise, perspective, and involvement greatest ambassadors, providing unique reflections nity to stay con- strengthen the Simon alumni network and help of the academic excellence and highest values we nected with your make it an invaluable asset for job recruitment, offer here at Simon. To that end, I encourage you classmates and professional development, and qualified student to reach out and become an even more integral the Simon School. referrals. In the end, the stronger we make our part of the Simon network. We invite you to alumni network, the more opportunities for suc- You can stay connected through our main join us in person cess we can offer our graduates. LinkedIn group or by one of the many online re- and online, and to Of course, technology and social media have gional groups. I invite you to take advantage of always remain an become vital tools for our alumni to connect with these online offerings, as well as the alumni chap- integral part of the each other and stay informed about current de- ters that meet in your area. If there is not a Simon Simon network. velopments at the School. Digital networks, like alumni chapter near you, please contact our Ad- those available on LinkedIn and Goalee, an in- vancement office for assistance in creating one. novative search engine developed by two recent Moreover, if you would like to become an agent for Simon alums, help organize and promote every- your graduating class and help strengthen the ties thing from social engagements to professional op- within your cohort, please let us know. s portunities and idea sharing. Meliora! To date, Goalee has over 5,000 Simon students and alumni in its network that blends the benefits of an online networking site like LinkedIn with online matchmaking sites like eHarmony and Match.com. It also helps us to offer an easy-to-use Job TipLine. If you have a job lead, simply visit www.simon. careertipline.com/tips/new and fill out the short Mark Zupan form. Even if you think there may be opportuni- ties, but aren’t entirely sure, we’d be interested in learning more. Once you submit a lead, students 2 Fall 2013 ◾ Simon Business For more information on The Meliora Challenge: The Campaign for the University of Rochester, visit: campaign.rochester.edu Your support is getting us closer to our goal. MELIORA CHALLENGE IMPACTS BUILDING ON CAMPUS The Meliora Challenge, the first comprehen- ENTREPRENEURSHIP Finance), and developed an undergraduate sive capital campaign in the University’s his- The strengthening of our Entrepreneurship business major. tory, is now more than halfway home, and program was recently apparent in two sig- we are proud to report the Simon School of nificant milestones. TECHNOLOGY, COMMUNITY, Business is on track for successful comple- The arrival on campus of our first full AND FACILITIES tion. This is the result of the collective efforts faculty member in entrepreneurship, Ron By adding a media room, Bloomberg termi- of numerous volunteers around the globe, Goettler, from the Booth School of Business nal, and enhanced study room and class- the participation of our faculty and students, at the University of Chicago, and the launch room technology, we are ensuring that and the hard work of our dedicated staff. of a student-managed venture capital fund. Simon students learn on industry standard We have surpassed $61 million raised Goettler was installed as the inaugural James and state-of-the-art equipment now and into against our goal of $85 million, an ambi- N.