Spring/Summer 2010 Prof

Home , Digital Insight, Sandy Alderson

Spring/Summer 2010 Prof. Nicole Johnson: Do Stock Options Improve Performance? Nonprofit Organization CalBusiness US Postage Haas School of Business PAID University of California, Berkeley Admail West 545 Student Services #1900 Berkeley, CA 94720–1900

CalBusinessThe Magazine of the Haas School of Business at the University of California, Berkeley

Haas@ Cal

Participate in industry discussions on LinkedIn Connect with all Haas Join the main Haas/Berkeley alumni through Haas@Cal Alumni Group and subgroups Update your directory profile Expand Your Universe… Breaking

Follow Haas events and news Through on Facebook How Three Alumnae Blazed Become a fan of Haas group pages Their Own Ways to Success Gigi Wang, MBA 92, venture partner, iGlobe Katie Coughlin, MBA 89, founder, Oslo Children’s Museum haas.berkeley.edu/alumni Linda Lang, BS 80, CEO, Jack in the Box Build on your success. The Magazine of Spring/Summer 2010 CalBusiness the Haas School of Business at Become a better leader. the University of Come back to Haas. California, Berkeley

Senior Editor Features Richard Kurovsky On the Cover: Contents Editor 10 Breaking Through Ute S. Frey How Three Alumnae Blazed Managing Editor Their Own Ways to Success Ronna Kelly, BS 92 Gigi Wang, MBA 92, Venture Partner, Staff Writers The UC Berkeley Center for Executive Education iGlobe Partners Valerie Gilbert delivers open executive education programs and Katie Coughlin, MBA 97, Pamela Tom Founder, Children’s Museum custom solutions to businesses around the globe Contributing Writers Linda Lang, BS 80, CEO, Jack in the Box Victoria Averill, Helena Bachmann, through the Haas School of Business. We draw on Laura Counts, Christine Fundak The New Path to Innovative Rohan, Judy Jacobs, Bill Snyder, the resources, talent, and perspectives of faculty 6 Leadership at Berkeley-Haas Adam Starr from across UC Berkeley. We collaborate with Design Your Haas Network in London Cuttriss & Hambleton, Berkeley executives to achieve strategic objectives and Profiles of Three PhD Graduates at Printer 16 London Business Schools Graphic Arts Center build organizational strengths. Connson Chou Locke, PhD 08 Caneel Joyce, PhD 09 Photography John Angerson, Jim Block, Margaret Ormiston, PhD 07 Toni Gauthier, Jens Haugen, Product Management Aug. 2-6 Khamis Ramadhan, David Schmitz, Your Haas Network Gregory Urquiaga Interactive Strategy Sep. 9-10 Profiles of Three Haas School Alumni 18 CalBusiness is published by Cleantech Institute Sep. 12-13 Joe Jimenez, MBA 84, Novartis the Haas School of Business, Julie Earne, MBA/MPH 04, University of California, Berkeley Executive Leadership Program Sep. 13-18 World Bank Group Berkeley. For further William Lindsay, MBA 80, Richmond, CA information, contact: Financial Analysis for Non-Financial Executives Nov. 1-5 CalBusiness Editor Bio-Exec Institute Nov. 4-5 Haas School of Business University of California Berkeley, CA 94720-1900 10 510-643-0259 [email protected] CalBusiness Spring/Summer 2010, Departments Number 73 POSTMASTER: Send address changes to CalBusiness, Haas 2 In Brief 8 Power of Ideas School of Business, University of Prof. Teck Ho Receives Do Stock Options California, 545 Student Services Top Teaching Award Improve Performance? #1900, Berkeley, CA 94720-1900. Haas@Work Students 20 The Campaign Printed on FSC-certified recycled Take Off with New for Haas paper using soy-based inks. Corporate Clients Q&A with Roslyn and 5 Innovation Wizards Lisle Payne, MBA 67, Chairman, Jackson Street Mat Fogarty, MBA 01, Partners Crowdcast Kevin Casey, MBA 09, 22 Haas Worldwide New Avenue Events and Contacts Elad Ganot, MBA 10, Alumni enjoy a 25% discount Puzux 24 Alumni Notes Sarah Milstein, MBA 10, Call and reference CBIZ10 36 In Memoriam The Twitter Book 8 Phone: +1.877.UCB.EXEC (822.3932) http://executive.berkeley.edu/cbz Prof. Nicole Johnson: Do stock Email: [email protected] options improve performance? “My vision is to have students rival received a surprise offer Dechow, Sloan, and co-author leave the class with the ability to from a Chinese oil company. Amy Hutton of Boston College Home Run! think strategically about pricing Crowe is the fourth business demonstrated that firms most Haas Students Score with Sports Courses and with the practical tools they leader to take an executive frequently manipulate earnings need for their future careers,” Ho fellow or executive-in-residence to lower the short-run cost of Haas is stepping up to the plate for students interested in wrote in a teaching statement role at Haas. The others include raising new financing and that careers in the $213 billion sports business industry with new submitted during the award IDEO General Manager Tom weak governance structures courses taught by two respected industry leaders. selection process. “I also want Kelley, MBA 83; John Hanke, facilitate such behavior. Their Sandy Alderson, former to make learning fun so that MBA 96, VP, product develop- paper has received more than CEO of the San Diego Padres News from the Haas School students love the subject and ment for Google Maps, Local, 1,000 Google Scholar citations. and general manager of the see its relevance in practice.” and Earth; and former Yahoo! “Although their paper was Oakland A’s, flew to the Bay InBrief “I learn a lot, too, from my marketing VP David Riemer. CB initially controversial because it Area once a week this past students. I find that what I challenged existing thinking, spring to teach MBA stu- put in (my time in and out of Professors Dechow and Sloan dents The Business of Sports. class, energy, enthusiasm, and Professors Honored paved the way for a new Meanwhile, Mike Rielly, who research) is what I get out of for Accounting Work emphasis in the accounting represents professional golfers these students,” Ho wrote. “I Professors Patricia Dechow and literature,” Dean Rich Lyons says. and organizes golf events for enjoy making a difference in Richard Sloan have been hon- “They are a great example of CAA (a sports and entertain- their lives.” ored with a new national account- why questioning the status quo— ment talent agency) in Los Ho’s students are equally ing award for a research article one of the school’s defining Angeles, began teaching positive about his teachings. that helped fuel an explosion of principles—is so important to Mike Rielly, Agent, CAA Sports Sports Marketing to under- “What sets Teck Ho apart is governance-accounting studies. innovative research.” grads in spring 2009 and that he wants to get to know For more on Dechow, see returned this year. Both classes have had long waiting lists of the students on a personal level page 21. CB students hoping to enroll. and tries to find out what the “We try to take students’ interest in sports and combine it in students want so he can adjust a unique, interesting way with the general business concepts his teaching material based Haas Rejoins they’ve already learned at Haas,” says Alderson, whose course on their needs,” says evening Diversity Group includes case studies and guest speakers. and weekend student Vijay The Haas School has rejoined Rielly also brings in guest speakers to judge class projects Bhaskaran, MBA 10. “At Haas The Consortium for Graduate in his course. Two Oakland A’s executives, for instance, judged he’s the best I’ve ever had.” CB Study in Management, an alli- student presentations on ance of U.S. business schools whether the San Francisco and firms aimed at fostering 49ers should move to Santa Retired CFO Named diversity among students and Clara County. Executive Fellow Profs. Patricia Dechow and Richard Sloan corporate leaders. Alderson and Rielly bring Retired Chevron CFO Steve The move came as The an insider’s view to the class- Crowe, BS 69, MBA 70, The pair was recognized for Consortium made changes to room. In one class discussing will share his knowledge and their 1996 paper “Causes and its mission that allowed Haas to a Fox Sports case study, expertise in both the energy and Consequences of Earnings rejoin after a seven-year hiatus. Alderson recalled hearing finance fields with students and Manipulation,” in Contemporary “Being part of The Consortium media mogul and Atlanta faculty as the school’s third Haas Accounting Research. is another way to show that Braves owner Ted Turner’s executive fellow. The award from the American Haas is welcoming of all forms of impassioned speech against Professor Teck-Hua Ho, As an executive fellow, Accounting Association recog- diversity,” says Dean Rich Lyons. Fox buying the Dodgers in winner of the UC Berkeley 1998 at the Major League Marketing Professor Teck-Hua Ho Crowe will advise faculty and nizes unique research from the Haas will work with The Former Padres CEO Sandy Alderson Distinguished Teacher Earns Top Campus Teaching Award the dean while also partici- past 5 to 15 years that has made Consortium to recruit full-time Baseball owners meeting. Award, says what he puts pating in various events a significant contribution to the MBA students for the class “What he didn’t count on into his teaching—time, Haas Marketing Professor appropriate person to receive and programs for students accounting field. starting in fall 2011. CB was Fox’s total ineptitude in managing a team,” energy, enthusiasm, and Teck-Hua Ho received the this award than Teck Ho,” says throughout the Alderson quipped. research—is returned to highest teaching honor the UC Dean Rich Lyons, a 1998 Students who shine in the sports classes also have scored him from his students. school year. Berkeley campus bestows—the Berkeley Distinguished Teaching Crowe retired internships and jobs. Even before graduating, Chris Giles, Berkeley Distinguished Teaching Award winner. “He has proven from Chevron High Marks for Teaching MBA 10, began working as director of business development Award—at a ceremony April 22. himself with an engaging, at the end of At the end of the spring semester, students selected eight for the Pac-10 Conference, a league of men’s and women’s col- He is the eleventh Haas professor innovative approach to teaching 2008 after professors as winners of the Earl F. Cheit Award, which recognizes lege sports. “It’s really fun to marry a personal interest with my to win this award. marketing, while always holding more excellent teaching at the Haas School. The winners are: MBA and feel like I’m doing something that I love,” Giles says. Ho teaches Strategic Pricing remaining open to learning Retired Chevron than a dozen Watch a video about Write to CEO Steve Undergraduate Program Berkeley-Columbia and serves as chair of the Haas from his students as well.” positions during the Haas School’s Crowe Frank Schultz Executive MBA Program CalBusiness faculty’s Marketing Group. He Learning, according to Ho, is his 36 years sports classes at Steve Blank Share your views about is also faculty director of several more concrete when it is hands-on. with the company. He became Full-time MBA Program www2.haas.berkeley. CalBusiness by sending a letter executive education programs, So his classes include interactive CFO in 2005. The highlight of Rashi Glazer PhD Program edu/Videos/sports. to the editor to letters@haas. including Pricing for Profitability in lectures, company case studies, his career was his successful Evening & Weekend Martin Lettau aspx. CB berkeley.edu. Accepted letters the Information Age, and director computer role-playing simula- “quarterbacking” of Chevron’s MBA Program MFE Program may be edited for clarity. of the Asia Business Center. tions, in-class experiments, and $17.9 billion acquisition of Peter Goodson Alexei Tchistyi “I could not think of a more outside guest speakers. Unocal in 2005 after the smaller Suneel Udpa Michael Melvin

2 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 3 Innovation Kindling a New Venture InBrief 1) Across: What is the Kindle Wizards missing? Answer: puzzles, according to Elad Ganot, Cisco hired Haas@Work to Yellen Nominated Won’t You Be My MBA 10. So Ganot created Haas@Work Students Take Off help improve its worldwide (Green) Neighbor? Puzux, a platform for delivering service support process. As Fed Vice-Chair Many Americans live in houses interactive and social mind With New Corporate Clients Students at Autodesk developed Haas Professor that are too big and inefficiently games to the educated adult. solutions to re-engage, develop, Emerita Janet Berkeley MBA students in the ware leader Autodesk; and designed. Kevin Casey, MBA Rather than chasing the iPhone and retain customers. Yellen, CEO Haas@Work program hit the returning client Cisco Systems. 09, wants to change that. His app crowd after the youth McKesson, meanwhile, asked of the Federal runways this spring with new Haas@Work dispatches venture capital-backed startup, market, Ganot decided to get students to develop a common, Reserve client Virgin America. 40 MBA students—split into New Avenue, finances and builds bookish with an older, less value-added approach for five Bank of San Taming Twitter with The airline, one of four com- 8-person teams—to develop small, affordable green homes tech-savvy, and more affluent of the company’s businesses Francisco, was Tweet-sized Tips panies to partner with the Haas solutions to pressing business nominated and detached second units on demographic. that share the same market— Professor Emerita With more than 100 mil- School’s applied innovation challenges. New teams then Janet Yellen vice-chair of the underutilized land, helping com- Puzux sells interactive independent physicians. The lion users, Twitter may be program this semester, hired follow up with 100 days on Federal Reserve munities grow internally instead crossword and Sudoku puzzles company engaged students Fortune Telling approaching “twittercal” mass. Haas@Work to help continue the ground, putting the favored System Board of Governors in of sprawling outward in a sub- for Amazon’s Kindle. Two of its to move forward on one main To help avid users and newbies to drive innovative new guest ideas in motion. April by President Obama. The En Masse urban creep. The company broke interactive crossword books recommendation and pieces of Executives everywhere wish they alike, Sarah Milstein, MBA and loyalty strategies in the Haas@Work will be one of four-year appointment must be ground on its first unit in May in recently ranked in the top 300 two others. could peer into a crystal ball and 10, has co-written The Twitter airline industry. The other several courses that students confirmed by the U.S. Senate. Berkeley. out of a library of 480,000 “We gave Haas students very predict the future. Thanks to Mat Book, a comprehensive guide to Haas@Work clients were will choose from next fall to Yellen became CEO of the “The greenest thing titles for little direction, and they dove into Fogarty, MBA 01, that wish has using this 140-character social McKesson, Haas@Work’s first satisfy a new experiential San Francisco Federal Reserve we can do is increase the device. the market and the operations of finally been granted. Fogarty’s com- networking medium. health care client; design soft- learning requirement. in 2004. She previously sat on utilization of our existing Ganot five businesses,” said Dave pany, Crowdcast, helps decision “Twitter is very simple, but the the Federal Reserve Board of infrastructure,” Casey credits his Henriksen, senior vice makers look forward by tapping hashtags, the shrunken links, Governors from 1994 to 1997. says. “This reduces Haas School president and general into the current collective intel- and the retweets can all be con- Then she served as chair of the green space consump- International manager for McKesson ligence of their company’s own fusing elements when you first President’s Council of Economic tion and vehicle Business Physician Practice employees, taking advantage of the start out,” notes Milstein, a newly Advisers from 1997 to 1999. dependence.” Development Solutions. “They theory that a crowd contains more minted graduate of the Evening Yellen taught macroeconomics New Avenue also class and a brought six ideas, knowledge than an individual. & Weekend Berkeley MBA at the Haas School from 1980 to aims to address a trip to Finland and we liked every idea Crowdcast’s software lets Program. Milstein works as co- 2006. CB central design flaw of for Puzux’s they had.” chair of the Web 2.0 Expo and decision makers post questions the average American genesis: “I Meanwhile, in June, general manager of TechWeb, a about key metrics and events to dwelling: Most homes naturally took a group of students network of IT news and product Haas Solar Expert a cohort of participants—such are designed for the my Kindle began working with review sites. Her co-author is as employees, customers, and “nuclear family.” But what with me and was Virgin America to Heads to D.C. former boss Tim O’Reilly, whose Cyrus Wadia, partners. Participants then about young couples, seniors, or surprised to discover that there implement Haas@Work O’Reilly Media hosts the Web co-director of the share their insights by selecting single parents? “The big waste in was no interactive content recommendations on 2.0 Summit and Expo and pub- Haas School’s likely outcomes. American housing is that 55 per- available for the device.” innovating the com- lished the book. Cleantech to Among the questions that cent of homes are underutilized Puzux’s founding team con- pany’s pricing model, More than simply a manual Market Program, Crowdcast can help answer: with just one or two people living sists of Eran Schitzer, MBA frequent flyer program, on functionality, The Twitter is spending a year When will our new product in them,” Casey says. 10; Dana Pelleg, wife of Amir and other proposals. Book outlines Twitter’s unique in Washington, ship? How many units will we New Avenue offers four small Pelleg, MBA 10; and David “Haas@Work was culture and social nuances, Cyrus Wadia, D.C., to advise sell? Which supplier will we home designs, with financing Davies, husband of Hannah an opportunity to tap Cleantech looking at what makes the the White House select? Customers have included ranging from less than $300 to Davies, MBA 10. into fresh thinking to Market medium valuable and efficient Co-director Office of Science Electronic Arts, Hallmark, and $600 per month. The homes Puzux is also actively trying from students who for businesses. Milstein offers and Technology General Motors. are modern, energy efficient, to change puzzles from solitary weren’t burdened by suggestions on how to turn Policy on renewable energy. Fogarty views Crowdcast as an and healthy to live in. If New pursuits to interactive social the knowledge of the Twitter into a top referrer to your Wadia will be charged with alternative to companies’ tradi- Avenue realizes its goals, your experiences. It’s a challenge industry,” says Virgin company’s website—through directly supporting President tional way of forecasting—looking backyard is about to get a lot that is keeping Ganot’s America CEO David compelling headlines rather Barack Obama’s mission of backwards at historical data. And more neighborly. mind busy. Cush. than mundane tweets like making solar energy economically he foresees big things ahead for “We plan to “new blog post.” She also offers viable on a global scale. Crowdcast: “As business leaders weave the students’ tips on how to use the search The Cleantech to Market realize the valuable knowledge recommendations function to peek into the minds Program that Wadia co-directed they have assembled in their together into a holistic of customers, competitors, creates interdisciplinary teams of workforce, our tool will be incorpo- comprehensive journalists, and other UC Berkeley graduate students to rated into the fabric of enterprise approach,” Cush adds. constituents. Any Twestions? help scientists commercialize their IT systems, so that sharing an Students flew on Virgin America this spring as part of a Haas@Work project with the air- “They gave us a lot to opinion about the future is as Tweet@SarahM for help. technologies. CB line. Pictured here talking about the project before their flight are Pedro Kudrnac, MBA 10; run with.” CB Laura Englert, MBA 12, and Pablo Urbaneja, MBA 10. seamless and simple as placing a comment.”

444 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 5 Experiential The New Path Learning All MBA students will be required to take a cutting-edge experiential learning course to Innovative that prepares them to solve real-world business and organizational problems and emphasizes innovative leader Leadership skills. Students may choose from a list of opportunities that includes first-of-their-kind Haas programs such as Haas@Work, Cleantech to Market, and at Berkeley-Haas Social Sector Solutions as well Revamped MBA Core as International Business The Development. Developing innovative leaders is the new focus The fundamentals of business, ranging of the Haas School, which is revamping its MBA core from accounting and finance to Innovative curriculum and emphasizing the school’s distinctive culture marketing and strategy, will continue to to shape its students. The Full-time MBA and anchor the required MBA courses. Leader Evening & Weekend MBA programs will be the However, new content on innovative The goal at Haas is to first to see the changes this fall. leadership will be added to core develop innovative leaders courses, and related content will be “We want to develop innovative leaders who —individuals who drive emphasized in all required courses. Two growth by putting new ideas define what’s next for our markets and our existing core courses, Leading People societies,” says Dean Rich Lyons. “These kind into action in every corner and Leadership Communications, will and every function of their of path-bending leaders are more critical than be restructured to teach additional organizations, and who do ever to our collective future because they innovative leader skills, such as the so responsibly. This has are the ones who will create opportunity ability to influence without authority. been happening naturally at from the major challenges facing us in Team Haas for many years. Now our lifetimes.” the school is reshaping and Performance sharpening its curricula to All of the content at Haas focused on deliver this brand of leader This new required module building innovative leaders is part of even more effectively. Berkeley Innovative Leader Development is part of the experiential (BILD), a connecting theme that runs learning courses. It provides through the entire MBA curriculum. skill development and individual and group Here are the key stops along the BILD path. Electives Problem Solving coaching on how to be an effective leader of a high- A series of electives plays This new required course teaches performance team. a crucial role in allowing Orientation several different ways of thinking in students to study and order to more effectively find, frame, apply various aspects of Students will be and solve difficult problems that are innovative leadership in Culture characterized by volatility, uncertainty, introduced to the greater depth. innovative leader complexity, and ambiguity. This Norms and Values framework and skill course, a prerequisite to the required One unique aspect of BILD is set when they first experiential course, also teaches how the conscious use of Haas arrive on campus. to generate a range of fresh ideas. culture to shape the school’s students. The school recently codified its culture into four defining principles, which will be emphasized in admissions Leadership decisions and integrated into the academic programs: Development Series •Question the status quo The Berkeley MBA Leadership •Confidence without attitude Development Series is a popular suite •Students always of non-credit, hands-on workshops •Beyond yourself and seminars patterned after applied leadership programming offered The defining principles are heavily to senior leaders at the world’s top influenced by the school’s companies. Launched last year, location in the San Francisco the series included workshops on Bay Area—the world’s leadership led by best-selling authors epicenter for innovation and Marshall Goldsmith and Patrick Lencioni. entrepreneurship. And the Berkeley campus culture has always been about fresh thinking.

66 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 7 Faculty Books The researchers identified 1,364 compa- Algorithmic Trading Super-Flexibility for Power of Ideas nies with employee stock options whose Knowledge Enterprises: By Pamela Tom stock price declined by 30 percent Boosts Market Efficiency A Toolkit for Dynamic or more annually in any of the years Prof. Terry Hendershott exposes the Adaptation (2nd ed.) between 1990 and 1996. Of those com- benefits of computer-driven trading Homa Bahrami Do Stock Options Improve Performance? panies, 300 repriced and formed a basis Springer Publishers Prof. Nicole Johnson compares their effects on executives and rank-and-file workers of comparison to a control group of the Responding to 1,064 that didn’t. concerns about an The researchers theorized that when increasingly electronic Now You See It: Simple Stock options that options provide incentive effects a company’s stock price falls below the stock exchange, Visualization Techniques have rewarded at the executive level that are suf- exercise price of an option, much of Finance Professor for Quantitative Analysis many thousands ficiently large to be reflected in firm any incentive effect the options may Terry Hendershott Stephen Few of employees, performance, but no evidence for have had disappears. Repricing those studied algorithmic Analytics Press particularly those similar incentive effects for non-exec- options should restore those incentives, trading and found working in the utive employees,” wrote Johnson and the researchers assumed. A situation that computer-driven information tech- co-authors David Aboody of UCLA’s in which options have been repriced trading based on algorithmic formulas Global Challenges in nology industry, Anderson School of Management and should be similar to that of a newly insti- does, in fact, improve the market’s Responsible Business with income that Ron Kasznik of Stanford’s Graduate tuted option-grant program. liquidity. David Levine and far outstrips their David Vogel School of Business. So the researchers first asked In a forthcoming article in the normal salaries. Cambridge University Press Their paper, “Employee Stock whether companies that repriced out- Journal of Finance, Hendershott also It’s become an Options and Future Firm Performance: performed the companies that didn’t, concludes such high-speed trading article of faith in Silicon Valley that Evidence from Option Repricings,” will as measured by cash flow and operating allows stock prices to become more those rewards create incentives for be published in the Journal of Accounting income over one, three, and five years. “efficient” or reflective of true supply The Entrepreneur’s Legal employees to work harder and smarter, Guide to Starting Up: 35 and Economics later this year. Learning Companies that repriced options did and demand in the market. in turn rewarding Little-Known Facts, Secrets, that granting options to a broad selection significantly outperform the control Hendershott’s article “Does the companies Techniques, and Tricks to of employees may not be an effective tool group, and the performance gap grew Algorithmic Trading Improve that lavish options Making Sure You Get Every is the paper’s most important contribu- over time. Liquidity?” includes these key findings: on the workforce Penny’s Worth of Value tion to the literature, Johnson says. Johnson and her colleagues also with better perfor- • Algorithmic trading narrows the from Your Lawyer Options and their effect on corpo- found that companies that had re- mance and greater spread between the stock’s bid and Naeem Zafar rate performance have been frequently priced options for only executive-level Five Mountain Press shareholder value. ask price. studied. However, nearly all of the employees significantly outperformed But does that research has focused on options for the companies that had not repriced at • It reduces adverse selection, which assumption stand executive-level employees. Few occurs when buyers and sellers make all. But firms that repriced options for Finance Essentials up to careful scru- researchers have looked at companies decisions based on a different set of only non-executive employees did not for Entrepreneurs: tiny? The answer: information and results in both kinds that granted options to rank-and-file outperform the control group. A Simple Guide It depends on employees, largely because obtaining While Johnson is confident that the of investors acting adversely based to Creating and who is receiving data is so difficult, says Johnson. study’s results are meaningful, there are, on the known, rather than the Understanding the options, Public companies generally disclose she says, a number of caveats. accurate, level of risk. Financial Statements according to a new option grants on regularly scheduled The researchers chose to study per- • It reduces trade-related price for Your Business study co-authored proxy statements, but usually for only formance before significant accounting discovery, meaning activity more Naeem Zafar by Assistant top-level managers. Digging through changes were made to the treatment of truly reflects actual supply and Five Mountain Press Accounting hundreds of corporate filings with the options, particularly the rule instituted demand. Professor Nicole Securities and Exchange Commission in 2005 requiring companies to expense Bastian Johnson. The research data showed no evi- to find who else may have received the cost of options. However, while that Market Research on “Our findings dence that algorithmic trading causes options is extremely time-consuming. rule may have prompted some firms to a Shoestring: Get a provide evidence instability or volatility in prices. But that’s exactly what Johnson and her cut back on granting stock options, the Reality Check on Hendershott spent two years gath- colleagues did. researchers do not have any reason to Your Big Idea for ering data at the New York Stock Less than $100 assume it would have changed the effect Exchange. In 2003, the exchange imple- Naeem Zafar that option grants have on employee mented a change in trading practices, Five Mountain Press behavior—the focus of their study. “Our findings provide evidence that speeding up how fast data was delivered options provide incentive effects to market participants. The upgrade at the executive level … but no and increased algorithmic trading were evidence for similar incentive effects introduced across stocks over time, allowing later affected stocks to act as for non-executive employees.” the research’s control group. — Prof. Nicole Johnson

8 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 9 Breaking How Three [ By Ronna Kelly & L a u r a C o u n t s ] be closer to her parents. She wanted to work for a large crisis management team, she impressed Nugent with Alumnae Blazed company, and Jack in the Box—one of the few in San her strategic thinking. Jack of All Trades DiegoThrough at the time—offered her an accounts payable However, it wasn’t until she had worked at here are only 28 women leading Fortune 1000 supervisor position. the company for about 12 years that Lang started Their Own Ways companies, and , is one of Linda Lang, BS 80 Then came children, and Lang left her job—but she’s thinking about becoming CEO. Nugent said she them. As CEO of San Diego-based Jack in the Box, quick to point out that she didn’t become a stay-at-home needed operational experience and put her in charge Lang is part of the elite cadre of women who head mom. Instead, she earned an MBA at San Diego State of the Southern California region. After 15 months, To Success less than 3 percent of the country’s largest publicly traded while caring for her 1-year-old son and pregnant with the region became a top performer. Lang went on to Tcompanies. She oversees a company with $2.5 billion in her second. become president, COO, and when Nugent retired in annual sales and 36,000 employees. “We had one income coming in, so I worked part time 2005, CEO. Lang never expected to be in the burger business. As as a graduate assistant to cover child care, and then went to Earlier this year, recession-fueled layoffs an undergraduate at Chico State, she enrolled in child school and studied at night while the kids were sleeping,” resulted in a watershed demographic development classes to become a preschool teacher. Lang’s Tradeoffs she recalls. The biggest challenge, Lang admits, has been father, a manager at Pacific Telesis who did not go to shift: For the first time in U.S. history, women After a four-year hiatus, she returned to Jack in the balancing work and family: “I was never den college, suggested she major in business because she was so Box in 1991, taking a part-time job as a financial analyst mother or room mother, but I always held more non-farm jobs than men. This shift, good at math. She transferred to Berkeley, and loved the that was lower than the one she left—and earning just made a point of going to my intellectual challenge of her courses in Barrows Hall. along with a series of women-centered events $15 an hour. She quickly returned to full-time work, and son’s football games on Fresh out of Cal, Lang became the first woman at the Haas School this spring, prompted was offered increasing responsibilities. The hardest move Friday nights.” accepted into San Francisco-based Bechtel Engineering’s she made was switching from finance to the marketing One key to managing CalBusiness to take a closer look at the status management program. She had hoped to work overseas, department, but it taught her a valuable lesson: To get it all was a strong sup- and many of her male colleagues were sent to far-flung of women in the business world. ahead, you have to leave your comfort zone. port system, she adds. places like Brunei and Jubail. But Lang was given a post in “That’s one of the most significant changes that I made Her parents helped We learned about an impressive number of San Francisco. “They indicated that they really didn’t have in my career—to go into something that I didn’t have any with child care, and accommodations for women out at the job sites,” she recalls. Haas alumnae who have succeeded in their experience in,” she recalls. her second husband Thirty years later, it’s hard to envision a company saying retired early and could careers, breaking down barriers and creating that. Yet a study released in February by Catalyst, an inter- shuttle their sons to new pathways for other women. This article national nonprofit working to expand opportunities for Shaving Cream and Cigars As she moved up, Lang found herself increasingly in the various activities. women in the workplace, found that women with MBAs still looks at the career choices of three of those minority. She remembers one Las Vegas trade show where She says her sons lag substantially behind men in pay and promotions. Out the giveaways were shaving cream, cologne, and cigars, and definitely haven’t alumnae—a CEO, a high-tech entrepreneur, and of 9,000 graduates of 26 MBA programs between 1996 and the evening activities included Monday Night Football. suffered. “They 2007, 60 percent of the women reported their first job was a nonprofit founder—and offers some valuable “You have to have fun with it,” Lang says. “I was know how to cook, entry-level, compared with 46 percent of the men. The men lessons about gender in the workplace for never offended.” they can do their were also twice as likely to be a CEO or senior executive. women and men alike. Robert Nugent, Lang’s mentor and predecessor as own laundry,” CEO, first noticed her during one of the company’s most she says. “And Skipping Steps difficult trials: a deadly 1993 E. coli outbreak. Part of the they’re proud After completing Bechtel’s two-year program, however, of me.” Lang was quickly promoted to supervise eight accounting employees, all older and more experienced. “I was 24 years old and I remember thinking, ‘Wow, I have an office on the 23rd floor in downtown San Francisco,” she says. “But I began my management career I was never den mother or room really understanding that I needed to gain the support and mother,“ but I always made a point the trust of my employees. That’s really been my strategy.” Lang’s career took another turn in 1984 when she and of going to my son’s football her first husband decided to move to San Diego to games on Friday nights.” Linda Lang, BS 80, CEO, Jack in the Box

10 CalBusiness Spring/Summer 2010 I don’t really feel like I “have a job. I feel so driven supposed to be humble. She learned to get over that, during her early career in the consumer packaged to help inspire kids.” High-Tech Trailblazer goods industry. From Telecom to , says good child care is key Katie Coughlin, MBA 97, Founder, Oslo Children’s Museum igi Wang, MBA 92 Like Lang, she found she was treated differently than to the success of working mothers. “Pay a nanny the men, when a boss consistently gave big projects only to Entrepreneur Mom top dollar,” Wang, the mother of two boys, advises. her male colleagues. Finally, when she asked him why, he ike Wang, Katie Coughlin, MBA 97, found Wang took an even more extreme step to balance work G said he didn’t want to set her up for failure. It wasn’t until herself a minority in the male-dominated tech and family while working as an Internet entrepreneur in embraced in Norway. She had she threatened to quit that he let her start a new plant. world. She enjoyed her work and loved the people, Asia: She flew her mother across the world, from Seattle, but she always wanted something more. When her new intended to return to work, L but the dot-com implosion to help take care of her 3-year-old son when her hours baby began having difficulties, she decided to step away proved to be far more grueling than she expected. Back in the U.S. and her daughter’s chal- When pregnant with her second child, Wang left from an intense career that included stints at tech giant Determined not to be a stay-at-home wife when her lenging infancy changed Singapore to become an executive director at IBM and telecoms in Russia and Norway. husband got a job in Singapore, Wang accepted a position her plans. CommerceNet and launch TrustE, a privacy framework But in motherhood, she quickly found an unexpected helping a huge conglomerate, Sembawang Corp., start for the Internet. After a successful launch, she left to start on-ramp—one that felt more like a calling than a job. the first non-government Internet service provider in the The Mommy Track up the international carrier marketing group for Ascend Coughlin initially thought she’d follow a mainstream country in 1995. Coughlin wasn’t alone in Communications, where she received another leader- corporate path. With a bachelor’s in business from the “I walked into the office on my first day and there were deciding to become a stay- ship lesson: A male colleague told her she needed to take University of Georgia, she worked for IBM and then only two student employees,” she recalls, explaining that at-home mom. A 2005 more credit, instead of always attributing successes to team AT&T. On trips to Europe she developed an itch for the company had taken over a university-operated Internet study by the Center members, in order to be perceived as a stronger leader. international work, and headed to Haas in 1995 with service and was transforming it into a business. for Work-Life Policy “Women tend to say ‘we’ much more than ‘I,’” observes that in mind. Wang went on to hire 50 employees and attract more found that 40 Wang. She feels comfortable around men because she After graduation she landed in Moscow at another subscribers than the government’s percent of highly grew up with three brothers and was one of the few big telecom firm. But when she and Norwegian Haas Internet service; the company educated American women studying mechanical engineering at Stanford, classmate Geir Erik Gabrielsen, MBA 97, decided eventually went public on the women step away but says she has seen women dropping out of high-tech to marry, she moved to Oslo to help Telenor, the former Nasdaq stock exchange. At from work at some because their styles are so different than the men. state-owned telecom, market its software to the rest of one point, Wang observed a point. Haas Professor That’s a real problem for the industry, where represen- Europe—a travel-heavy job she loved. difference among her ten Catherine Wolfram recently tation by women is shrinking. According to the National She was then recruited to an Internet startup while direct reports—eight women analyzed Harvard alumni Center for Women in Information Technology, the per- four months pregnant, working only briefly before and two men. surveys and discovered centage of women in IT-related professions dropped from departing on a year of paid maternity leave—a perk “Both guys asked for 36 percent in 1991 to 24 percent in 2008. Fewer than promotions and raises 5 percent of Fortune 500 IT company CEOs are women. within six months,” she recalls, while the women Since networking is so important to success, Haas expanded another never asked. Yet, Going with the Money Most recently Wang has moved into another field where event—its annual Women in Leadership Dinner in Berkeley—globally last “the women were Giving Women a Leading Edge women are a tiny minority: venture capital. A 2008 year. On April 1, Haas alumnae gathered at dinners in nine cities worldwide. always there Haas has created several programs to attract more female survey of the industry by the National Venture Capital While many top business schools recruit women through prefer- late, doing tons candidates and better serve them as students and alumni. Association found that just 14 percent of investing venture ential admissions and scholarships specifically for women, 1996’s of stuff on their capitalists are women. Two graduating MBA students are offered $100,000 salaries. The man Proposition 209 prohibits public institutions in California from giving own initiative. In 2007, Wang took on the role of chairperson and negotiates up to $111,000, while the woman quickly accepts. By age 65, preferential treatment based on race, sex, or ethnicity. Guys get things president of the MIT/Stanford Venture Lab, a high-tech the woman ends up shorting herself $1.6 million—assuming Still, “we know—and can show applicants—that Haas is the ideal place because they entrepreneurial forum. Last year, she became a venture 3 percent annual raises and a 5 percent return on the extra income. for women to gain the knowledge and training they need to become ask.” partner with iGlobe Partners, an international VC team That typical scenario demonstrates why negotiating skills are a key innovative leaders,” says MBA Admissions Director Pete Johnson. Wang, who with offices in Silicon Valley, New Zealand, and Singapore. component of the Women in Leadership Retreat, a three-day executive One way Haas does that is by participating in Forté Fairs for female was born Wang declines to discuss which companies she works with, education program at Haas and one of many ways the school supports MBA applicants across the country and other programs developed in Taiwan, but doesn’t hesitate to say how much she likes her work. women in business. by the Forté Foundation, a consortium aimed at preparing women for also grew up “I’m just attracted to challenging new situations,” says Although women now make up a majority of the workforce, they business leadership positions. being told Wang. “I like going into chaos and creating order.” still represent about a third of top U.S. business school MBA students. Each year, about ten women in the Berkeley MBA Program who women were At Haas, women comprise nearly 30 percent of the Full-time MBA and receive academic scholarships become Forté Fellows. As a Forté PhD programs and 45 percent of the Undergraduate Program. Fellow, Wendy Walker, MBA 11, has taken advantage of job webinars While the reasons for this gap are complex—including family demands, and introductions to participating companies, including one firm that confidence, and a shortage of mentors—the Haas School has developed flew her to New York for an MBA women’s forum. a multi-pronged effort to close it by attracting more female applicants and Although Haas cannot offer scholarships targeted to women, Walker better serving them as students and alumni. says the school is very welcoming. “I feel like Women tend to say Haas was among the first business the atmosphere at Haas really helps offset the “‘we’ much more than ’I.’” schools where students organized a Women fact that women are in the minority at business in Leadership conference 14 years ago. This schools,” she says. “It’s a very collaborative Gigi Wang, MBA 92, year’s annual conference in March sold out culture.” Venture Partner, iGlobe Partners with more than 400 women networking, participating in industry-specific workshops, and hearing from inspiring leaders. Read more about this year’s sold-out Women in Leadership Conference by visiting the Personal View section of CalBusiness online at Associate Professor Laura Kray kicks off a Women in Leadership Retreat. haas.berkeley.edu/calbusiness/personalview.html. Spring/Summer 2010 CalBusiness 13 female MBAs were far more likely than women with JDs or MDs to become stay- at-home moms—possibly due to the difficulties of balancing business careers with family life. But U.S. Census data also shows that the so-called “opt-out revolution” was over- stated: Most women with degrees return to work eventually, many after just a year off. For Coughlin, the turning point came during a 2003 visit to Cincinnati where her 2-year-old cried for three days straight. At the suggestion of a friend, she wrangled her into the car and headed to the city’s Duke Energy Children’s Museum, wondering whether they’d let her howling toddler in. Kellie McElhaney “When the elevator doors opened, she of the Center for The Lioness Factor Responsible Business heard noises, she saw bright colors, and discusses case studies The Haas School’s Kellie McElhaney is studying she knew instantly this place was for her,” of Gap, Goldman Sachs, companies investing in women globally. and Nike with under- recalls Coughlin. “Her sadness evaporated, graduates Poornima and I had never seen her so inspired and Muralidhar and Anjali Increasing the number of women business leaders is not just a Joy (left to right.) engaged. I couldn’t help but wish we had a women’s issue; it’s a matter of good business. place like it in Oslo.” Two studies by Catalyst, a nonprofit focused on Coughlin’s startup-seasoned brain advancing women, found that Fortune 500 companies with more women clicked into gear. Though she tried to in management or board positions financially outperform their peers—by dismiss the idea as a whim, she began between 33 percent to 66 percent, depending on the financial measure. researching children’s museums. Now, after Kellie McElhaney, co-faculty director of the Haas School’s Center for more than five years of nonstop work— Responsible Business, also believes women tend to lead more sustain- during which she gave birth to two more ably—financially, socially, and environmentally. Early results from a research daughters and struggled to sell her idea to a project called “The Lioness Factor” that she has started are bearing that out. government cultural system unfamiliar with McElhaney has teamed with undergrads Anjali Joy, BS 11 (Business interactive children’s museums—her persis- and Econ.), and Poornima Muralidhar, BS 10 (Envir. Econ. and Policy), to tence has paid off. write case studies on three companies—Gap, Goldman Sachs, and Nike— With a large developer committed to who are making big bets on investing in women globally. half the $30 million price tag, she’s nearing “Our goal is to identify best practices to serve as a guide for other the final round of approvals to launch companies,” McElhaney explains. The project’s title came from Gap’s Norway’s first large-scale, interactive chil- (PRODUCT)RED brand, which helps raise money to combat disease in dren’s museum. In the meantime, Coughlin Africa. When rapper Diddy was asked to help launch the brand’s ad cam- has created a “museum without walls” paign, he suggested recruiting “lionesses” instead. The campaign launched to visit classrooms, and is developing an on Oprah, who sent web traffic skyrocketing. exhibit prototyping center in partnership The idea for McElhaney’s project came from an increasing number of with the University of Oslo. companies focusing on gender equality in the developing world— which “It’s been more work than I ever imag- UNICEF has noted yields a “double dividend” of bettering the lives of both ined, and there were times when I ques- women and their families. tioned whether I could keep going,” says McElhaney’s early finding that women manage more sustainably fol- Coughlin, who worked two and a half years lows other studies that have shown women are more concerned about cor- without pay before securing sponsorship porate social responsibility and more driven by the desire to have a positive from developer Steen & Strøm. “But I don’t impact. The nonprofit sector is one place where women do just that, run- really feel like I have a job. I feel so driven ning about 60 percent of U.S. nonprofits. However, men lead the majority to help inspire kids.” of larger nonprofits with budgets over $5 million. Despite such disparities, women wield another kind of power that may ultimately help close the gender gap: the power of the purse. Women control $20 trillion in annual consumer spending globally, according to a 2009 Harvard Business Review article. “That consumer power is far too critical for corporations to ignore,’” says McElhaney. “We are far past the point of gender equality being only about fairness. It is simply just good business, period.” haas.berkeley.edu/givenow 14 CalBusiness Spring/Summer 2010 Winter 2010 CalBusiness 15 Connson Chou Locke, PhD 08 Caneel Joyce, PhD 09 Assistant Professor Assistant Professor London School of Economics & Political Science London School of Economics & Political Science Your Haas Network in London After 16 years in the business world and a decade in Asia, Connson With its sleek, sustainable design, the London School of By Christine Rohan Chou Locke, PhD 08, is now at home on a new continent and in a Economics’ (LSE) New Academic Building is the perfect home Margaret Ormiston, PhD 07 new career at the renowned London School of Economics (LSE). for a burgeoning management department and for Caneel Joyce, Three recent graduates from the Haas PhD Assistant Professor, London Business School It’s a world away from her previous work in Asia, where she held PhD 09, whose passion for innovation led her here from her program have ended up teaching in London: travel-intensive management consulting, development, and training It was Margaret Ormiston’s experience working with Los native California last September. posts after earning an undergraduate degree in sociology from Margaret Ormiston, PhD 07; Connson Angeles businesses as a litigation consultant that propelled “I wanted to be in a city where I’d have access to all sorts of cre- Harvard and working for Boston nonprofits. Chou Locke, PhD 08; and Caneel Joyce, her to pursue an academic career studying leadership and ative industries,” explains Joyce, 31, who finished her dissertation, “I discovered in Hong Kong that I loved teaching, but I was tired PhD 09 (below, l. to r.). They’re part of a teams. Through various consulting projects, she witnessed the on the effects of constraint on creativity, before she began teaching of teaching the same things,” says Locke, who came to England in significant effects that leaders have on employees, from highly at the LSE. “This is a very supportive environment—the LSE teaches growing Haas Alumni Network in Europe. part to be near her British-born husband’s family. “A friend who got inspirational to highly dysfunctional. you how to teach—with an exciting, growing department.” into Berkeley’s PhD program told me about it, and I realized it was “I wanted to better understand how we can Currently preparing several papers for publication, Joyce teaches possible. It was a midlife career change, but I loved teaching and be more functional as leaders and get the most organizational behavior and change courses, summertime execu- wanted a more fulfilling, family-friendly job where I could learn.” out of our employees,” says Ormiston, PhD 07, tive education, and is building an experimental lab with colleague And so in 2003, Locke enrolled at Haas with a desire to study who studied sociology as a UCLA undergraduate. Connson Locke, PhD 08. Before deciding to pursue a career in employee voice. Her husband came with her, and she gave birth “This understanding leads to better outcomes on academia, Joyce worked in marketing and advertising after gradu- to two daughters during her five years in the the whole.” ating from UCLA in communications. PhD program. “I was basically either pregnant or Working on her PhD at Haas during a rash “I was frustrated at not being able to make my ideas breastfeeding the whole time I was a student!” she of corporate scandals provided an impetus for “ go anywhere, plus the economy had tanked,” says Joyce, recalls. “It was really tough and not something I Creative Ormiston’s prime research focus: understanding explaining her decision to leave advertising and mar- would recommend.” team dynamics. industries value keting and earn a PhD at Haas. Locke’s dissertation involved running four “When I started my PhD, the Enron debacle “I’d always been interested in creativity, but experiments to examine leaders’ nonverbal focus. If you put a focus on what can go wrong when a com- it wasn’t until my third year at Haas that I knew I behavior and its effects on upward communication. let people do pany’s executives think only about shareholders’ wanted to study how constraint affects decisions “When I used to do leadership programs, interests and financial performance—and not made in the creative process, partly to help me under- we taught ’leadership presence,’ the idea that anything, they’ll social performance,” recalls Ormiston. “It’s stand how to better manage my own ideas,” she when you become a leader you need a certain do the safe absolutely critical for us to think about corporate continues.“Everything in my field felt really interesting demeanor, and this is viewed very positively,” social responsibility, so we need to understand thing.” and important, so I needed to find some way to enjoy says Locke, 44. “But there are unintended conse- what leads to it and what roles leaders play.” eliminating some of my ideas and focusing on just a quences: when leaders use the positive leadership — Caneel Joyce, PhD 09 Taking a position at the London Business few. My hunch was that there’s got to be something demeanor, if they’re trying to get information from School after graduation was an easy decision for good about constraint that I wasn’t seeing because subordinates, the subordinates don’t speak up as Ormiston, 34, who grew up in San Francisco but I hated constraining myself but recognized that I much as they could. The more leaders use that demeanor, the less spent summers in London and Glasgow, where needed to—I always want to pursue every idea.” subordinates speak, and the less information they share—a problem her parents originated. In her extensive reading on psychology and organizational for joint decisions.” “I always wanted to try living here and see if behavior, Joyce found a paradox: too much choice can be bad for At LSE, Locke’s first task was to build the Organizational it was meant for me,” she says. And “profession- decision-making, but people need freedom to be intrinsically moti- Behavior core course from scratch—the school’s Master’s in ally, London is a great place because it’s such vated. Her hypothesis, that a moderate level of constraint is best, was Management program only launched in 2008, the year she a diverse city and there’s access to a lot of dif- validated by her six-month high-tech experiment involving 274 par- arrived. In that course and the others she now teaches, she ferent potential field sites for research.” ticipants at Haas, and by data she collected in Haas’ new product stresses the importance of nonverbal flexibility: “Maybe the leader- Ormiston is studying top management teams development class. Her findings have valuable applications for business. ship demeanor is good when you’re presenting, but when you’re from publicly traded companies, how the teams’ “Many companies that want to make themselves creative take on speaking to your employee, you need to be more casual. The key to leadership and dynamics influence firm-level the ’anything goes!’ freedom ethic, but they don’t really know how to good leadership is understanding the situation and adjusting.” outcomes, and how the teams’ ability live ’anything goes,’” Joyce says. “Creative industries value focus. If you Fascinated by the perception of leaders, Locke is keen to to consider multiple perspectives influences let people do anything, they’ll do the safe thing. But if you tell them, ‘gen- begin exploring women in leadership this summer. “The gender corporate social performance. erate ideas about anything you want, within this box,’ they explore that stereotype is that women are supposed to be communal—caring, Ormiston is also collecting data on leaders’ box with greater depth and consider ideas that otherwise would appear friendly—rather than agentic—assertive or aggressive,” says Locke. facial features and appearance. “Research too strange at first glance.” “Yet, leaders are supposed to be agentic. For women in leadership shows that we are more trusting of baby-faced positions, this is a conflict.” people,” says Ormiston, “so how will that trans- Though still formulating the project’s framework, Locke knows she’ll late into thinking about corporate fraud and be seeking a real-world application—“I’m not interested in research for its London Alumni Calling social responsibility?” own sake”—and that she’ll enjoy it. “I’m so happy and fulfilled now,” she In addition to her research, Ormiston teaches With a recent influx of alumni to Europe’s business says. “My work has given me a new purpose in my life.” capital, the Haas London Alumni Chapter has launched courses on global leadership and on assessment a monthly social gathering. For more details, contact and a class on leading teams and organizations. Helen Ip, MBA 09, at [email protected]. She says, “The London Business School has incredibly dynamic students who push me to think about the applications of my work.”

16 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 17

Julie Earne, MBA/MPH 04 Investment Officer International Finance Corp., World Bank Group Your Haas Network Nairobi, Kenya When Julie Earne, MBA/MPH 04, received The Microfinance Joe Jimenez, MBA 84 Handbook ten years ago, the concept of micro loans for the world’s poorest people seemed a universe away from her life in commercial CEO, Novartis banking. Yet the book changed her life. Ten years later, she’s con- Basel, Switzerland tributing to the book’s second edition; the author, a global expert in In January, when he was named the CEO of Novartis, a Basel, microfinance, has become her close friend and mentor; and she’s Switzerland-based pharmaceutical giant, Joe Jimenez, MBA 84, travelled across Africa, setting up pioneering microfinance banks. felt “deeply honored and very excited.“ “I’d been working in corporate finance for global banks when this He had every reason to be: Jimenez is the first American at the book about microfinance landed in my lap,” Earne says. “From what I helm of the 14-year-old Swiss company, which generated $44.3 read, it was banking with more of a soul. I thought, it doesn’t matter if it’s billion in sales last year. a large bank or a small bank, the skills you need are exactly the same.” In the few months since his promotion, Jimenez, who had pre- Cue a swift resignation from Wall Street and a post in Uganda viously headed Novartis’ Pharmaceuticals and Consumer Health working as finance manager for a network of microfinance institu- Divisions, discovered that running a global company that employs tions in Africa. She developed an interest in public health as nearly nearly 100,000 workers in 140 countries requires expertise that one in three Ugandans became infected with HIV/AIDS. Her goes above and beyond traditional management skills. “One of employer was also piloting a micro health insurance scheme, and my goals is to create a clear vision and help our associates under- Earne saw microfinance and health working hand in hand. stand how to implement it,” Jimenez says. It was Berkeley’s joint MBA/MPH program that prompted Earne The ability to identify and meet challenges, and motivate to return to the States. That and a desire to hang up her travelling employees to accomplish goals, is one of many fortes Jimenez William Lindsay, MBA 80 boots and immerse herself in the vibrant melee of international stu- has been perfecting since his days climbing the corporate ladder City Manager dents, networking opportunities, and entrepreneurial spirit that she at Clorox, ConAgra, and H.J. Heinz in both the U.S. and Europe. Richmond, CA says defined her time at Haas. His extensive managerial background, international experience, After graduating, Earne started working as an investment officer global perspective, and adaptability to new situations helped Few insiders at Richmond’s dowdy City Hall thought newly hired City for the International Finance Corp. (IFC), the private-sector arm of the Jimenez bridge the gap from consumer goods to pharma industry Manager William (Bill) Lindsay, MBA 80, would stick around long. World Bank. “I bought a house in Washington, D.C., and thought this without too many growing pains. After all, he had degrees from Yale and Haas and had just finished would be a nice place to settle down,” she says. But a year later, she “Packaged consumer goods is a fast-moving environment, a successful run as city manager of upscale Orinda. And Richmond found herself on a plane to South Africa—this time to head a new requiring quick decisions and actions,“ Jimenez explains. “Health had many serious problems. microfinance investment strategy for IFC focusing on the most fron- products move at a slower pace. On average, it takes six to seven The insiders were wrong. Five years later, Lindsay is still on the tier countries in Africa. In this role, she invests in startup microfinance years for a medication to be developed, tested, and approved.“ job, City Hall and the surrounding Civic Center sparkle after a $100 banks, expanding access to the formal financial sector for micro and However, Jimenez points out that these seemingly disparate million facelift, and the city’s finances—deeply in the red when he small entrepreneurs. sectors do have a common ground—focus on the consumer. “I arrived—are on an even keel, despite the recession. The opportunities that microfinance offers, particularly to women was able to apply this approach to the pharma industry,” he says. Lindsay says the job represents the fulfillment of a longtime com- in Africa, continually inspire her. “Through these new banks, many “Commitment to our customers remains my top priority.” mitment to public service: “I came here wanting to grow personally women have access to secure savings and credit for the first time, While Jimenez says it is too early into his new tenure to draw and professionally, and I felt I had something to give.” enabling them to take control of their lives,“ says Earne. “Their conclusions about his performance, he is busy setting objectives It hasn’t been easy. Richmond is plagued with violent crime, a businesses grow and the results are tangible—better living conditions and finding solutions to the company’s future challenges. 17 percent unemployment rate, and now Chevron is threatening to and an ability to send their children to school.“ – Victoria Averill One specific challenge looms on the near horizon in 2012, close its sprawling refinery, the city’s largest employer and the source when Novartis’ hypertension drug, Diovan, will go generic in of about 25 percent of its revenue. western markets, leading to a considerable drop in the sale of Meanwhile, a double-digit decline in Richmond’s sales and the brand medication. While such a scenario might plunge many property revenue due to the recession prompted a response that company heads into despair, Jimenez has been devising a illustrates Lindsay’s management skills as well as his values. Rather “Plan B“—driving research into new innovative products, building than slash and burn the city’s workforce, Lindsay adroitly cut 50 tax- licensing programs with other companies, and expanding funded positions through attrition, retirement incentives, and posi- into new markets like China and Russia—to compensate for the tion transfers into fee-based and grant-funded areas, while laying off projected loss of revenue. only five people. Still, he calls the reduction in force a “terrible event.” This action, Jimenez predicts, will actually translate into Lindsey, who earned a degree in economics from Yale, got a taste additional profits over the next several years. of the private sector while working as a consultant. But public service “There are always crises we can’t avoid,” he says. “But overall, was his goal as far back as his high school days in Walnut Creek. I am quite optimistic about the company’s future and believe After working in various city management positions in East Bay there are no problems we can’t solve.” cities, he spent 10 years as Orinda’s city manager before heading to Jimenez is quick to attribute his problem-solving ability and Richmond in 2005. positive thinking to skills he gained at Haas. “It is a highly analyt- Lindsay didn’t study city management at Haas—it isn’t offered— ical environment that taught me to dissect a problem into smaller but knew that management principles could be applied to the public pieces before tackling it,“ he notes. “When approached this way, sector: “I use those tools—accounting, finance, organizational devel- no problem is unsolvable.” – Helena Bachmann opment—everyday.“ His plans for the future? “Right here,” he says. “I’m doing what I always wanted to do.” – Bill Snyder

Julie Earne (left) with micro- 18 CalBusiness Spring/Summer 2010 finance bank client Lucy Wambui Spring 2010 CalBusiness 19 Upcoming Events haas.berkeley.edu/events

WORLDWIDE The Campaign for Haas HAN Welcome Parties (introducing newly admitted Haas students to their alumni community) For a current list of event details: Ask the Donors Your Investments at Work haas.berkeley.edu/alumni/welcome BERKELEY of the few MBA programs available that focused on real estate. September 10-11 Real Estate Investors My choices were Chicago, NYU, or Berkeley, and I decided Scholarship Promotes Studies in Berkeley-Columbia Executive MBA Find a Home at Haas I wanted to come to Berkeley. At that time, professors Paul International Security Program Reunion and Gala Wendt and Sherman Maisel were acknowledged as academic Tarek Ghani, PhD 14, hopes eventually to teach at a school of Lisle Payne, MBA 67, and his wife, Roslyn, SAN FRANCISCO leaders in the world of real estate and finance. business or public policy on the issues of crime, corruption, and forged separate successful careers in the real estate ethics in international business. It’s a field in which he’s already fairly September 16 industry—he focused on real estate equities while she Q: What are your memories of the university back in the ‘60s? knowledgeable: His undergraduate thesis at Stanford focused on 4th Annual “Taste of Haas“ at Williams-Sonoma, Union Square worked on the financial side. In 1988, they formed Lisle: Well, of course it was the Freedom of Speech era. Afghanistan’s post-Taliban state-building efforts after 9/11, and how Jackson Street Partners, a San Francisco-based Berkeley clearly had a wide range of students and faculty with warlords, drug traffickers, and corrupt officials are undermining that BERKELEY real estate investment and venture differing opinions. It was a unique experience, especially for country’s prospects for peace. October 9 capital firm. Since 2006, they have someone from Des Moines! However, the students with whom What’s more, the U.S.-raised Ghani is the son of Ashraf Ghani, former Haas Homecoming I interacted continued to work very hard. I came away feeling become involved in a wider range of finance minister of Afghanistan. Ghani took a year off of school to that Cal offered a great educational experience on many levels. private investments, as well as their serve as special assistant to his father, an experience that informed his SAN FRANCISCO philanthropic work with the Payne Roslyn: And 35 years later, in 2002, one of our sons senior thesis project. The senior Ghani later ran against Hamid Karzai October 21 Family Foundation, and make their received his BA from Berkeley in American Studies. in the recent presidential election, while Tarek went on to oversee a 5th Annual Student-Alumni Professional Networking Event home in San Francisco. They have $15 million grant budget to promote transparency and accountability : So you’re an alumnus and both of you are Cal parents. been generous donors to the Q in Liberia’s government program for the philanthropic organization Haas School; their most Is that what has inspired you to give back so generously to Tarek Ghani, PhD 14, is able to focus SAN FRANCISCO more on his courses and research, Humanity United. November 5 recent gift, to the Campaign the Haas School? thanks to a scholarship from the Ghani is the recipient of a scholarship from the William Leonard Crum 9th Annual Haas Gala for Haas, established the Lisle: One of the key things that attracted us to Haas as William Leonard Crum Fund. donors was that Roslyn and I had co-taught at the school as Fund, which has enabled him to focus more time on his course work Lisle and Roslyn BERKELEY adjunct professors in the late ‘80s and early ‘90s, teaching real and research. “Because of resources like the Crum Fund, I can spend Payne Chair in November 20 estate investment and finance in the MBA program. We were the first few years concentrating on my core disciplinary training,” Real Estate Ghani explains. “Such funding allows Haas to attract the best students Big Game Tailgate Capital Markets. very impressed with what was going on at the Fisher Center and with the leadership of Ken Rosen, and we worked closely with packages competitive with other top business schools.” And Ghani is pleased to be one of those students. “Haas is responding in a BERKELEY : You’re originally from with Bob Edelstein. We welcomed the opportunity to give back Q very thoughtful way to the broader business environment,” he says, “by December 9 Des Moines and have your and to get further involved with the Fisher Center. It all relates educating leaders who are prepared to navigate ambiguous waters.” “Old Blues” Reunion Luncheon MBA from Berkeley, while back to our personal experience in teaching and enjoying our Roslyn is from Kansas City interaction with the students NEW YORK and received her MBA Roslyn: I’m involved philanthropically with Harvard University, Professorship Advances Research on December TBD from Harvard. How did your both the business school and the School of Public Health. But I Haas Celebration in New York paths cross? think our joint experience teaching at Berkeley really solidified Financial Statement Manipulation Lisle: I was working in the real our connection to Haas. Accounting Professor Patricia Dechow is the Donald H. and Ruth SHANGHAI estate investment area as CEO F. Seiler Professor in Public Accounting, a position made possible by a March 22, 2011 **Note new date! of the Fox Group, and Roslyn Q: Why did you both end up being so passionate generous gift from Mr. and Mrs. Donald Seiler 49, MBA 50. Dechow’s Asia Business Center Conference about real estate? research has spanned financial statement analysis, earnings manage- Keynote: 2009 Nobel Prize Winner was working at an investment Oliver Williamson banking firm in New York. In Roslyn: Real estate is a significant component of our ment, understanding how investors interpret financial information, and 1971, we both participated in economy. Since the 1960s, it’s been an area that combines the use of financial statement information to detect mispriced stocks. BERKELEY a real estate securities industry creativity with an opportunity to create value. We’re particu- She is currently looking at various measures of earnings quality, trying to April 28–May 1 meeting held in Chicago. Roslyn larly interested in capital markets—we’ve seen what happens determine which are best for detecting firms that are manipulating their MBA Reunion Weekend was the only female present—she when credit markets are impaired. Berkeley has the intellectual financial statements. “Targeting firms identified by the Securities and was very easy to spot! We dated scholars to investigate these issues. Going forward, we’re Exchange Commission for bad accounting, we can look at their character- on a long-distance basis for two hopeful that the Haas School will continue to be a thought istics, decide if they have unusual ratios, and see if we can we pick them years and got married in 1973. leader in this very important area. out of a sample,“ she explains. Lisle: Successful real estate people tend to be very entrepre- A native Australian who joined the Haas School in 2006, Dechow is : What brought you to Q neurial and creative, and that’s what attracted me to Berkeley chair of the Haas Accounting Group and received the 2006-2007 Earl F. UC Berkeley for your MBA? in the first place. I enjoyed the entrepreneurial environment The Donald H. and Ruth F. Seiler Cheit Award for Excellence in Teaching. The Seiler Professorship affords Lisle: My initial plans were Professorship provides Professor and the opportunity for classroom interaction with real estate Patricia Dechow with funding to her the necessary funding to collect data, attend conferences, and hire to attend law school, but after industry professionals. Dean Rich Lyons would say that the hire research assistants, attend research assistants. Prior to coming to Berkeley, she was a professor at working for a real estate developer conferences, and collect data Haas School’s underlying themes are innovation, entrepreneur- for her research. the University of Michigan’s Ross School of Business and the Wharton in the summer of 1964, ship, and leadership, and I believe that these themes continue School at the University of Pennsylvania, and she appreciates the culture I decided to pursue an MBA. I was to resonate well at the Haas School. that is so unique to Haas. “The faculty here are experts in their fields but attracted to Cal because it had one are still always friendly and open to new ideas,“ she says. “It’s a great place for new thinking, innovation, and creativity.“ 20 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 21 Haas Worldwide Events & Contacts

4 Haas alumni were kept busy last spring Alumni gathered at the Soho House in with a host of special events worldwide, New York City March 23 to learn about “Measuring Your Digital IQ.” Haas alumnus culminating with a weekend of Alumni Scott Galloway, MBA 92, founder of Red Envelope Reunion activities on or around the and Firebrand Capital, presented with Dean Rich Berkeley campus in April. Lyons and Haas Assistant Professor Zsolt Katona.

1 5 More than 500 people attended the 11th This year’s Haas Alumni Reunion Weekend, annual Haas Celebration in Silicon Valley on held April 22-25, was the most successful ever, March 3. This student-alumni networking event attracting more than 600 alums from as far away as supports connections and career development. Germany, India, and Turkey. Top Haas faculty and Jagdeep Singh, MBA 90, president and CEO of thought leaders provided insights on “Managing Infinera Inc., was the evening’s featured speaker. and Leading in Complex Environments.” As a keynote speaker, Haas Professor Laura Tyson 2 The sixth annual Women in Leadership discussed “Global Megatrends” during the morning Dinner was held at the Claremont Hotel in 1 2 4 5 program. Berkeley April 1. Moderator Nora Silver, director of the Center for Nonprofit and Public Leadership, 6 joined panelists Jennifer Maxwell, BS 88, co- After the conference, Haas alumni were ready to creator of PowerBar; Priya Haji, MBA 03, CEO party at their Class Reunion Dinners held at and co-founder of World of Good; and Margo Berkeley’s Claremont Hotel. Members of the Class Alexander, BS 68, chair of the Acumen Fund. of 2009 reunited at the evening event. 7 3 The day after the conference, Pascal Hoffmann, In conjunction with the Fisher Center for Real Estate and Urban Economics, the Haas School MBA 00, and his family met up with classmates at hosted its eighth annual Bay Area alumni the Family Picnic for Top Dog hot dogs, games, celebration at Gap Inc. on March 16, focusing on and face-painting. real estate investing. The evening’s panel included Haas Professor Nancy Wallace; Larry Rosenthal, executive director of the Berkeley Program on Housing View more incredible Reunion Weekend photos online: and Urban Policy; BRE Properties CEO Connie haas.berkeley.edu/alumni/events. Moore, MBA 80; and moderator Dean Rich Lyons. 3 6 7

The defining principle that resonates for me is “Beyond Yourself.” In addition to Your Haas Alumni Network In Your Words: my professional life, I’ve been actively involved in philanthropy, and my time at Haas influenced that. When I was there in the early ‘90s, a group of us formed Haas Culture the Berkeley chapter of Students for Confidence without attitude. Responsible Business. Among my favorite classes was the ethics course Question the status quo. taught by David Vogel, a precursor to AroundFrom Vietnam to Venezuela, the the World Students always. the Center for Responsible Business. Haas Alumni Network currently has We were very concerned about 23 chapters and 60 regional Beyond yourself. approaching decision-making with representatives around the globe. You an ethical lens. can use our network to expand your When I embarked upon my post-MBA Berkeley connections—whether you’re career, I wanted to work with companies that were making a difference, not just in traveling, relocating, or just branching the marketplace, but by helping people. I was drawn to eBay, a start-up that was out in your own hometown. To learn deeply committed to its community of users. We helped people launch businesses more about Haas happenings in your doing what they loved, and even heard from those whose eBay businesses had part of the world, contact Alumni helped them get off welfare. Relations Director Leslie Kanberg at This was an extension of what I learned at Haas: You can maintain these key values in [email protected]. To meet the workplace. You can do better business. Today, I’m launching my own sustainability new Haas alumni wherever strategy consulting business, OnePlanet Group, working with companies and you are, visit nonprofit organizations internationally to build sustainable enterprises. Karin Bauer, MBA 94 To share your story or to read those chapters.haasalumni.org from fellow alumni, visit ourhaas.org.

22 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 23 senior career counselor and then 1960|50th reunion 1967 interior architecture and a minor in retired permanently in 1994. He Oco t ber 8-10, 2010 John Lovewell, BS, of art studio. We continue to be active is now a volunteer at the Olympic Atherton, Calif., writes, “Still at the First Chinese Baptist Church Training Center in Chula Vista, Calif., working at The Lovewell Co., a in San Francisco.“ giving tours to the public, delivering 1961 commercial real estate developer I Richard Grogan, BS, writes, athletes to and from the airport, Christy Reehl, BS, see MBA founded in 1987 in Silicon Valley, “After graduating in 1974, I went and assisting at special events. He 1962 notes. and serving on several volunteer back to my summer job with the works out three times a week, lifting boards, including The Institute of U.S. Forest Service and took a year up to 23,000 pounds per session 1962 World Politics, a graduate school for off from school. I then attended and runs on the elliptical machine Pat Boyl, BS, who also has a News from Haas Alumni statecraft in Washington, D.C.“ McGeorge School of Law, where for up to a mile. He is a member law degree, writes, “Not so current I graduated in 1978. I returned Alumni NotesSubmit your news online at of the vestry at his Episcopal highlights of my career, but the to Redding, Calif., my hometown, http://haas.berkeley.edu/alumninotes church, and happily married to his most memorable were serving where I have practiced law ever third wife, Ellen. His prior wives as a lieutenant in the Marine since. I’ve had my own office since David Rea, BS, of Stockton, are deceased. He is the father Corps for three years, working for Undergraduate 1982; I’m a sole practitioner. We Calif., recently celebrated his of four children, one of whom is Peat, Marwick, Mitchell & Co. have two sons, and next year both 91st birthday and 51st wedding deceased; five stepchildren; seven in the mid-’60s to get my CPA Everyone Has a Story About Haas. 1938 will be working on their master’s anniversary with a round-trip cruise grandchildren; and four great- certificate and three years spent as degrees. I’ve been married since Tell Us Yours. Relda A. (Cunningham) to Hawaii. grandchildren. an assistant U.S. Attorney in San Poffenroth, BS, passed away Diego. I have served in every lay 1979. Back in 1974 we were We all know Haas is a special place. August 21 in in a recession and I didn’t know th 1951 position in my church over the last Now more people around the world Palo Alto, Calif. 1940|70 reunion any classmates who landed jobs; HughGordon, BS, writes, 30 years and managed the Old are learning what makes the school so Relda entered Oco t ber 8-10, 2010 several decided to go for their MBA. “Enjoying an active retirement life Mission Beach Athletic Club rugby unique, thanks to the recent debut of our UC Berkeley I am glad to see more emphasis in this very pleasant location on side to six national championships strategic plan and revamping of our MBA at age 16 and on networking, internships, and 1944 Tasman Bay at the top of the South from 1987 through 1996. I am curriculum to focus on building the inno- graduated career development because in my Maxine (Sugarman) Island of New Zealand. Doing some married to the former Charleen vative leader. with honors at day it seemed there was very little Newman, BS, one of only three volunteer community work and Cirese from San Jose, and we have age 19 with of that going on with the School women to graduate with a BS in being PA to my not-so-well wife.“ two children, Molly, Cal ’03, and The school’s four “defining principles“ out- a degree in of Business, which is now known business from Cal in 1944, passed Jack, UC Davis ’05. Retired and lined in the strategic plan highlight what commerce, John Lovewell, BS 67, and wife, as Haas. I do recall some excellent away on Jan. 29. In addition to 1954 surfing in La Jolla with fondest Cynthia, on vacation in Lanai, Hawaii differentiates the school’s faculty, stu- Relda A. majoring in professors there, including David (Cunningham) being a proud Cal grad, she was a David Willman, BS, see memories of Berkeley (La Vals on dents, staff, and, of course, alumni: question the status quo; confi- Poffenroth, BS 38 accounting Vogel (brand new on the faculty supporter of the Bancroft Library MBA 1956 notes. the North Side and the Library dence without attitude; students always; and beyond yourself. and minoring 1968 I believe at the time) and Joseph and the Cal alumni association. Morrison Reading Room, where I Phillip Handin, BS, see MBA Garbarino.“ But even more than these principles, it is really in stories that we in statistics. Earlier that same year should have spent more time).” Relda and some of her sorority 1955|55th reunion 1971 notes. truly get a clear picture of the unique culture and community that 1947 sisters took a train to Pasadena to Oco t ber 8-10, 2010 th is Berkeley-Haas. Which is where you, our alumni, come in. Richard Halliday, BS, of 1964 1975|35 reunion see her Golden Bears win the 1938 th Orinda, Calif., writes, “This August Schuyler Bailey, BS, see 1970|40 reunion Oco t ber 8-10, 2010 Rose Bowl and PCC Championship. We want to hear your story about an experience that is distinctly Lois and I will celebrate our 60th After graduation, Herbert MBA 1965 notes. Oco t ber 8-10, 2010 She was faithful to her Golden Haas. How would your life be different without your Haas associa- with a family get-together at Crater “Herb“ Schmitz, BS, left for Bears until the end, last attending 1976 tion? How has something you learned at Haas informed a critical Lake. We had a great trip to South Indonesia on a Ford Foundation th Mark Cheney, BS, of the Stanford-Cal game in 2005 1965|45 reunion writes, decision you’ve made? Tell us about a favorite alumnus or alumna Africa, Botswana, and Madagascar grant to study inter-insular trade Lafayette, Calif., writes, “I am back David Glanz, BS, with her daughter’s family. After Oco t ber 8-10, 2010 “2009 was not a fun year for and what makes him or her unique. in the fall of 2009 and will be in Italy as an extension of his Cal-Indo at Cal volunteering as the Cal Men’s graduation she worked in her commercial real estate lawyers in June and Spain in September project interests. Following a year’s Lacrosse Boosters president. My We want to hear about Haas in your own words. Share your story Uncle Elmer Cunningham’s radio Vijay Kumar Pandit, BS, with national practices. One of our this year. We’re lucky to enjoy good work at Gadja Mada University he son Forrest (civil engineering) is vacuum tube assembly plant in San of Mountain View, Calif, writes, “I largest clients had been Lehman with us and fellow alumni at ourhaas.org. We can’t wait to hear health, so we can continue to travel received a draft notice and returned the goalie. My younger son, Cole, is Francisco. In 1942, she obtained am serving as member of the Board Brothers Global Real Estate. from you. and enjoy our family. We are still to the United States and to the applying to the UC system as well. I her first cost accounting position of Advisors of Internet Speech of (And they still are an important trying to play a competitive game of U.S. Army. Three years in Germany am very proud of both of them!“ Warm wishes from Berkeley, with Johns-Manville and retired San Jose, client, as their real estate assets— duplicate bridge, and it’s a constant included public affairs and a direct from her last accounting position Calif. Internet mortgage loans, mezz loans and Leslie Kanberg challenge. Yours truly tries to play commission to second lieutenant. 1974 in 2007 at age 89½, after 46 years Speech equity, with some workouts of Director competitive tennis twice a week Leaving the Army, he eventually Alan Fong, BS, writes, “I have with her current employer and 70 is having defaulted loans—continue to be Alumni Relations when I’m in town. We also continue was sent by the American Can just completed my 22nd year years of continuous employment success administered.) But, at this writing, our attendance and support of ACT Co. back to Germany for 5 ½ years with the State Compensation She enjoyed all types of outdoor activi- launching 2010 is much more active. I have in San Francisco and Berkeley Rep. with his family: Joyce (Meyer), Insurance Fund. My wife, ties and continued to learn throughout its service in three development ground lease Life is sweet.“ BA, UCB, 1955 and MS 1973, a Charlene (UCSF ’77), is a nurse her life. She was a member of China, India, teacher; and their three children manager with the Department deals going at once, and the bond the Audubon Society, Nature Thailand, (who hold seven degrees), Kathryn of Radiology at UCSF Medical financing for a major development Conservancy, and Sierra Club. Her 1950|60th reunion and other (Duke) PhD and department chair Center in San Francisco. Our covering two blocks in New York. sewing skills were unmatched, Oco t ber 8-10, 2010 Vijay Kumar Pandit, countries. My at RIT; Michael (Carnegie Mellon) son, Jordan, graduated from the Given that the economic cycle making and distributing over a hun- BS 65 son, Jay, and working in the technology world; University of California at Davis in in real estate is a slow-turning dred quilts through her church to the his girlfriend Charles “Chuck“ Single, and Elizabeth (Kent State), interior June 2009 with a bachelor of arts wheel, this pickup seems ahead homeless, those in need locally and climbed Mt. Whitney a few months BS, of Bonita, Calif., spent 19 years designer and community activist. in political science. Our daughter, of schedule, but happily so. As around the world. She is survived ago. My daughter, Amba, is busy as with Sears Roebuck in marketing Herb and Joyce have lived in the Dana, will graduate from the another micro-econ tidbit, my wife’s by three children, John, Patrice, and a mother to granddaughter, Linden. and human relations and joined Washington, D.C., area for 37 University of California at Davis fine jewelry business continues to Tami; and four grandchildren. She continues to sell properties, and Boise Cascade as regional human years. He headed the D.C. offices in June 2010 with a bachelor of be strong—was quiet only for the has just vacationed in Mexico with relations manager in the building of American Can, Combustion arts in design with an emphasis in first six months of 2009 and then division. He retired after 15 years Engineering and ICI Americas the baby and her husband, Marc. “ came roaring back. Very grateful and joined Bernard Haldane as before retiring.

24 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 25 Undergraduate

for that. If you’re in commercial Corporate CEOs participating Partners, a boutique law firm see Submit your news online at Patrick Costanzo, BS, http://haas.berkeley.edu/alumninotes real estate and based in the New include heads of Xerox, Kodak, catering to the unique legal needs MBA 1990 notes. York City area, drop a line and let’s Time Warner Cable, and Intel, as of renewable energy and cleantech commiserate. And we sure do have well as the first U.S. woman in companies. He is married to Patricia 1990|20th reunion Alumni Notes clients who want to buy real estate space, Sally Ride. Renaut Spilman. They have two Oco t ber 8-10, 2010 assets at a discount, so if you have boys in high school. any to sell …“ Cameron Hess, BS, of Haas Alumni Accolades Sacramento, Calif., was recently 1982 1991 appointed to the Board of the and Appointments 1977 Mitch Collins, BS, writes, Michael Lynch, BS, of San Rental Housing Association of Linda (Owen) Hsu, BS, of “In June of 2009 I accepted a Francisco, writes, “Future Cal Bear Sarin Knighted by Queen Garcia Houts Named Ringelmann Named Sacramento Valley. In addition Albany, Calif., writes, “I am married position as president and CEO of Jack Michael Lynch was born Top Advisor Under 40 Influential Tech Woman to his business, real estate, and Former Vodafone CEO Arun and have three grown children. the Oregon Center for Applied March 28.” tax law practice, Cameron has Sarin, MBA 78, MS 78 (Material Valerie Garcia Houts, MBA 99, Danae Ringelmann, MBA 08, Currently I teach ESL to adults Science in Eugene, Ore. We are been appointed to chair the Sci. and Eng.), was named an an international financial advisor at co-founder of IndieGoGo, has been and coordinate an ESL computer a leading recipient of funding 2010 California CPA Education Honorary Knight of the British Merrill Lynch, was recognized in named among the most influential lab, helping teachers to integrate under the National Institutes of Empire in March for services to the the third annual “Top 40 Advisors women in technology by Fast Foundation Real Estate Conferences John Miller. BS 84 computer skills with language Health Small Business Innovation communications industry. Under 40“ list compiled by On Company magazine. in San Francisco and Los Angeles. learning. I love what I’m doing.“ Research Program. Our efforts Knighthood is one of the Wall Street magazine. Ringelmann, 32, was one of commutes to the San Francisco Bay He had the pleasure to watch focus on designing behavior highest achievements for an On Wall Street, a national only eight women identified by Area, where he lives on a sailboat 1978 his son, Alexander Hess, who is change programs to address public individual in the UK. It is part of the publication serving the retail Fast Company in the category of in training for the 2011 Boston while in town. He writes, “Would Rich Hennum, BS, of health issues (smoking, weight UK honors system to recognize brokers and “The Entrepreneurs.” Marathon, take first place in his age love to reconnect!” Pleasanton, Calif., is northern loss, diabetes management, etc.) exceptional achievement and financial Ringelmann launched category and second place overall service to the nation. services IndieGoGo with classmate Eric California sales manager for USS. My charge is to transition the in the recent men’s 10K Run in San 1985|25th reunion Sarin, a U.S. citizen, is currently industry, Schell, MBA 08, and his former He writes, “We are a facilities company from a grant-dependent, Leandro, Calif. Oco t ber 8-10, 2010 a senior adviser to asset compiles the colleague Slava Rubin in 2008 maintenance organization, with academically oriented company to management firm Kohlberg Kravis list using at the Sundance Film Festival. offices in California and Arizona. Justin one that has commercial success Roberts & Co. He served as CEO of quantitative They initially created the company My two sons are both in college; Jelincic, marketing our programs to payers Pamela (Miller) Neumann, is a panel member of UK-based Vodafone in London data solicited as a social marketplace for Max is nearing his computer BS, of San concerned with traditional disease BS, Michael Lynch, BS 91, with from 2003 to 2008, overseeing from the independent filmmakers to raise science degree, and Martin studies Leandro, management and employee the Financial Reporting Jack Michael Lynch the firm’s expansion into emerging advisors’ money, interact with fans, and business and plays rugby. I played Calif., writes, wellness. In addition to cutting- Enforcement Panel in Germany. markets including India, Ghana, employers. build a following. rugby at Cal, follow the team, and “I continue edge programs, there is a pressing She lives with her husband, two Romania, and Qatar. During his Houts, children, and dog in Berlin. Timothy (Fahman) Pham, Valerie Garcia Houts, still play for an ’old boys’ team, the working for need to develop a technology tenure, Vodafone’s customer base 38, of San BS, of Huntington Beach, Calif., MBA 99 California Bald Eagles. I also coach KP reviewing delivery platform to enable member more than doubled from 120 Francisco, writes, “I have been traveling to in a youth rugby program.“ investments recruitment, engagement, and 1986 million to more than 260 million. and her Vietnam many times since 2004. in IT. The analytics. The assignment is Michael A member of the Haas Merrill Lynch partner Thomas Justin Jelincic, challenging, fun, and worthwhile. Belkin, My brother Henry (BS 1989) th reunion BS 80 move toward School’s advisory board, Sarin was Hutson-Wiley, 35, placed 10th on 1980|30 And Eugene is great, often referred BS, of and I provided M&A services. named the Haas School’s Business the list, with $918 million in assets Oco t ber 8-10, 2010 “Obamacare” to as Berkeley North.” Bainbridge We assisted the first Vietnamese Leader of the Year in 2002 for his in their clients’ accounts. They are drove me off the sidelines, and Island, Wash., company to list on a U.S. exchange. outstanding contributions to the part of a team of five partners who into the democratic process. I Sally Carlson, BS, of San Michael C. Sanchez, BS, is following Now I serve as its director and vice business of telecommunications provide brokerage services to a ran on the June 8 ballot for the and Gerald Posner (Berkeley and Francisco, managing partner a career at president. I enjoy receiving the and to the school. client base of venture capitalists Democratic nomination in the Hastings ’75 and’78) have founded of Terra Search Partners, is Salomon CalBusiness magazine and reading and private equity California 13th Congressional the Cal Alumni Group of Miami leading the search for the CEO Brothers in about other alumni stories and life investors. District. www.justinjelincic.com” Beach approved by the CAA in for the nonprofit entity that research and after Cal.” Houts has worked March 2010. They are reaching Michael Belkin, will be mobilizing corporate proprietary at Merrill Lynch since out to locate UC alums from all the BS 86 Norbert Tan, BS, of Oxnard, 2002. Previously, America to support STEM trading, and 1981 schools and colleges in Florida. He Calif., writes, “My wife, Tracy, and she worked at Danae Ringlemann, MBA 08 (science, technology, engineering, publishes the Belkin Report, an John welcomes contacts from alumni I are enjoying raising our 2 1/2- regional banks mathematics) education in the institutional investment newsletter Spilman, traveling to Miami or from other year-old daughter Ceora. I’m in my Robertson Stephens IndieGoGo recently expanded U.S. This fulfills the White House for hedge funds, pension funds, BS, of Mill alumni groups who would like to third year as executive director of and Montgomery to become a crowdfunding initiative, “Educate to Innovate.“ mutual funds, and sovereign Valley, Calif., partner for events in South Florida. the Ventura College Foundation, Securities while platform for all creative, cause, and The Carnegie Corporation of New wealth funds, among others. He is celebrating Michael is president and chief continuing my career in nonprofit she attended the entrepreneurial projects, from York and the Bill & Melinda Gates writes, “Since having a child die 25 years of officer of Cascais Investimentos management. I remain involved Evening Berkeley games and books to iPhone apps Foundation are providing funding. after receiving a vaccine, I have successful with offices in Cascais, Portugal, in the arts, doing some pro-bono MBA Program. and charities. devoted efforts to improve vaccine law practice and South Beach, Fla. (msanchez@ consulting, and also playing Since its launch, IndieGoGo safety (see YouTube Congressional (JD, University cascaisinv.net). music (drums). I’ve kept in touch has helped thousands of projects testimony) and to education raise money across 114 countries. of Michigan with fellow Haas BS 91 alums: John Spilman, ’85), 1984 about vaccine risks, which the Antonio Hicks, Debbie BS 81 medical profession (and most Cal including 18 John Miller, BS, is partner Perry, Lisa Sohn Fulton, in renewable energy law. Since scientists) refuse to acknowledge. and T ad Freese.” at One Risk Group, a middle- Currently recording in the studio Arun Sarin, MBA 78, knighted by 2002, John has owned a solo market commercial insurance firm, the Queen of England business and real property practice with an original funk/rock band 1992 partner at Oregon Yerba Mate, against this and other forms serving wind and solar power Jennifer Gandin, BS, writes, executive director of the Old Stone of government intrusion, ’The developers and other project “In May 2009, I married Dr. Peter Foundation, and board president Refusers.’ (Therefusers.com site to participants. On March 31, John Tontonoz (a physician/scientist at of the Green Economy Institute. be launched this summer).” added a non-exclusive “of counsel” He lives in Bend, Ore., and UCLA) in Laguna Beach, Calif. In relationship with Cleantech Law 2010, I was promoted to principal Sally Carlson, BS 80, with President Barack Obama

26 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 27 MBA

clients. In fact, I photographed CEO Sales & Distribution provides School of Government, and UCLA th starred in several scenes already Submit your news online at 1962 1971|40 MBA reunion and Haas alum Constance centralized sales, merchandising, http://haas.berkeley.edu/alumninotes Christy Reehl, BS 61, Law School. Nicole graduated from Apri l 28-May 1, 2011 shot for the Sundance Filmmakers Moore, MBA 80, for the last and distribution services to Altria’s MBA, writes, “My article, ’Chapter Yale and is completing her MBA Lab. The actor hopes to get issue of CalBusiness! I live and have tobacco companies and executes at Wharton. She has accepted a financial backing off the strength 11 Real Estate Cram-Down Alumni Notes my studio in Berkeley, so if any old trade programs to grow Altria’s position with eBay in San Jose as a Phillip Handin, MBA, of the scenes. The project was Plans: the Legacy of Till,’ which writes, “With a law degree friends are passing through the East operating companies’ businesses strategic planner. After graduating bought by Hoffman’s production details some of the unintended obtained in 1974 from Golden Bay, please drop me a line. I can be and their customers’ businesses. from Berkeley, I worked for three company, Cooper’s Town, which consequences resulting from a Gate University in San Francisco, I reached through my website at years with Peat, Marwick, Mitchell he runs with Emily Ziff. of CIM Group, a Los Angeles- 1996 2004 Supreme Court decision, continue to work in San Francisco www.samwillard photo.com.” th & Co. (now KPMG). I left Peat based private equity fund, focusing 2005|5 reunion was accepted for publication in as a sole practitioner in general Sean Feng, BS, of Albany, to attend Columbia University on investing in real estate and Oco t ber 8-10, 2010 The California Bankruptcy Journal, transactional practice. My wife and 1976|35th MBA reunion Calif., writes, “My company, Space 1999 to study urban economics and infrastructure in urban communities Spring 2010 issue.” I have lived in the Oakland hills for Apri l 28-May 1, 2011 Coatings Inc., has been awarded Gary Manalus, BS, of New urban planning. I have spent much in North America.” writes, “I’m almost 33 years. I have one son its first major contract from the York, recently moved into a product Nancy Chen, BS, of my career in public service, in my third year working in Fremont, 1965 who works full time in Los Angeles Kristin O’Leary, BS, writes, U.S. Navy, for the development of innovation role at American as the director of the Housing Lodovico Calif., at a nonprofit organization Schuyler Bailey, BS 64, while attending USC pursuing an “Our family welcomed a second advanced ultralightweight decking Express. In addition, he also and Community Development Gandini, coordinating large conferences MBA, writes, “Son John Kendall MBA and an MRED (masters in real daughter, Grace Carolyn, last July. material for nuclear aircraft carriers. accepted a position as a brand Department for the city and MBA, overseas (mostly in Asia).” Bailey and his wife, Deborah, estate development).” We have relocated to sunny San The second company, Greenscend ambassador and model for Rogaine county of Honolulu and later as a of Milan, presented Susie and me with our Diego and are really enjoying all Inc., has been expanding into the Foam, and will be appearing in print special assistant for housing for Italy, is an first grandchild, Eliana Miranda 1973 of the fun-filled activities the area premium green residential market. ads across national publications the governor of the state of Hawaii. investment The company has an extensive Bailey, born on Feb. 9. Mom and Ernie Bumatay, MBA, of offers. I am continuing to run my starting in June 2010. MBA The passing of Professor Moonitz fund manager Dad are sleepless, but Eliana is Rolling Hills Estates, Calif., and his own personal financial planning portfolio of award-winning major brought back many wonderful and has five projects. If our fellow Haas alumni doing just fine.” wife, Rebecca, have established Lodovico Gandini, children. business, in addition to doing th 1948 memories of the business school MBA 76 have any business alliance/inquiry 2000|10 reunion a memorial scholarship at Haas volunteer work for local charities. Peter Firmin, MBA, of David Woolsey, MBA, of and the genius that was Professor to which I may be of service, please Oco t ber 8-10, 2010 in honor of a colleague and dear Henry Wirz, MBA, of Would love to connect with Littleton, Colo., professor and Orinda, Calif., has been married 45 Moonitz. I was his graduate email me at sean@greenscend. friend, Roy Fenstermaker. Two Sacramento, Calif., has been Haas alums. I can be reached at dean emeritus at the University years to Kathleen Marie McDonnell assistant for one year and attended com. Most important, I’d like to separate scholarships will be president and CEO of SAFE Credit [email protected].” 2002 of Denver, retired for the fifth and has seven grandchildren, all his accounting theory class. express my deep appreciation awarded: one in 2010 to a Haas Union since 1984. SAFE is the Caterina Gangale, BS, (and final) time from the university in the greater Bay Area. After a Because of Professor Moonitz, I for both Professor David Aaker undergrad and one in 2011 sixth largest financial institution 1993 writes, “After a brilliant experience on June 30. He is also senior long career in equipment leasing, decided to attend Berkeley. Under and Stephen Etter. Their advice to a Haas MBA candidate. Roy serving the six-county Sacramento Kevin Crow, BS, of co-managing Salvatore’s Cucina associate director of development commercial and real estate his guidance and for his class, I and encouragement have been Fenstermaker worked with Ernie region. During his time at SAFE, Sacramento, Calif., writes, “Has it Italiana in San Diego alongside my for the School of Accountancy in financing, he recently joined wrote a research paper entitled, profoundly priceless and life at Summit Group Ltd. from the credit union has grown from been 17 years already? Since then mother, Raffaella, I have decided the Daniels College of Business Carl Marks Advisory Group, a ’The Mathematical Propriety of changing. Thank you, Professor 1992 to 2001. For his many about $100 million in assets to I’ve been blessed with a wonderful to go back to my native Italy. I at the University of Denver. After consulting and investment banking Accounting Measurements and Aaker! Thank you, Steve!” contributions, Roy was named over $1.7 billion in assets. SAFE wife, two great kids, three am living the dream in beautiful retirement, Peter will increase group serving middle market Calculations,’ which was published partner emeritus in 2003. Roy recently completed a merger narcoleptic cats, two durable fish, Toscana at my family’s castle his fundraising activities for the companies. As managing director, in The Accounting Review. The 1997 graduated from Cal with an with American River Healthpro and an overactive hamster. Dad and inn, Castello delle Serre (www. Sudanese Orphaned Rehabilitation he is responsible for West Coast paper was then cited in the seminal Credit Union, adding over 20,000 Camilla Cho, BS, of New York, economics degree and received I still manage to attend most Cal castellodelleserre.com). Anyone Organization (SAORO), which business development with work by Philip Brown and Ray Ball members, partnered with Intuit/ is vice president of development at his MBA from USC. Roy was a football games though. A man has remember my speech in business operates an orphanage and client revenues of $20 million to entitled, ’An Empirical Evaluation Digital Insight to provide members Outside.in. self-starter, tireless, analytical, to have priorities. Go Bears!” communication? Hope to see some a school in Pariang village, $100 million. of Accounting Income Number.’ had terrific foresight, and was with Finance Works, and is also Haas alumni here soon!” in southern Sudan. For more The Brown and Ball research Allen Lee, BS, of Los Angeles, an outstanding communicator. working with FISERV as a beta site 1994 information, visit www.saoro06.org was awarded the first ’Seminal writes, “I just launched Hollywood 1966|45th MB A reunion His work for Summit Group to develop a new data processing Lawrence “Larry“ Fox, 2003 Peter and his wife, Jean, plan to visit Contribution to Accounting & Wall, which provides proprietary Apri l 28-May 1, 2011 and its clients always exceeded platform for credit unions. SAFE BS, of Richmond, Calif., is Victor Pineda, BS, of Los SAORO’s operation in October. Literature’ by the American online data, research, and expectations no matter how high. also joined with other credit unions organizing his 20-year high school networking tools for producers Angeles, writes, “I just became Accounting Association. I am to build an interface between Ronald Lim, MBA, of He was an exceptional colleague reunion, raising three kids—Mike, and investors of film and other married to Lizandra Montes. I will 1956 enjoying my retirement golfing, auto dealers and credit unions Honolulu, Hawaii, writes, “I have and friend. Ernie Bumatay is Jenny, and Jacob—with his wife, entertainment products. Please visit receive my PhD in urban planning David Willman, BS, 54, playing tennis, and traveling to the called CUDL (Credit Union Direct been retired now for seven years. president of Summit Group Ltd., Heather, and looking for work. He us at http://hollywoodandwall.com.” from UCLA in June. The Victor MBA, helped create and was continental United States to attend Lending), now one of the largest My wife, Audrey, and I have a corporate development and writes, “Anyone need an HR or Pineda Foundation is growing a charter member of a Habitat various Major League baseball conduits for auto loans in the two children. Chris, our son, is financial advisory firm based in Los business professional? Happy to Sam rapidly in response to the leadership for Humanity affiliate in Boise, games. I also recently attended United States, and Henry served an attorney with WilmerHale Angeles. He served as Los Angeles have the friends and family that I do Willard, that I have taken in implementing Idaho, serving at times both as the Cal-Washington State football as chairman of the board of CUDL. in Boston. He graduated from HAN chapter president in 1994- and looking forward to seeing some BS, of the UN Convention on the Rights the president or treasurer. He game. Each and every time that SAFE was recognized as the Bowdoin College, The Kennedy 1995 and again in 2004. He also old friends soon. Go Bears!” Berkeley, of People with Disabilities in the now is helping obtain funding I am in the Bay Area, I visit the served on the Haas Development second highest volume SBA lender writes, “I Middle East.” to create a strong state support campus and note the beautiful Council from 2005-2007. In in the region and one of the largest th continue to organization for Idaho’s Habitat Haas Business School as opposed 1995|15 reunion 2004, he was presented with donors to charities in it service grow my 2004 affiliates, having served recently as to the old Barrows Hall, which was Oco t ber 8-10, 2010 the Raymond Miles Service Haas area. He writes, “I am proud of commercial president. Habitat is an international home in 1966. Aloha.“ Charmaine Chua, BS, Alumni Service award at the Haas the fact that SAFE Credit Union photography of Richmond, Va., has held a organization based on Christian John Harkavy, BS, of Gala in San Francisco. has remained profitable when business, variety of leadership positions in principles to eliminate or reduce 1968 Monterey, Calif., writes, “My third so many other local financial Sam Willard, BS 97 working with Altria’s family of companies, and poverty housing focusing on needy Leadership for Life by Douglas Writer and director Kazuo Ohno, son, Jude Aaron Harkavy, was born institutions are losing money. And corporate was most recently promoted to very low-income families. Gehrman, MBA, of Houston, son of , on Jan. 15, 2010. His brothers are Katsuto Ohno, MBA SAFE has not benefited from any and editorial clients, and private manager of sales programs for Texas, recently won the overall of Urawa, Saitama, Japan, is John Alan Harkavy III (aka Trey) (7), government bailouts.” individuals. I have recently been Altria Sales & Distribution. Altria best nonfiction book award from making the film, ’Mr. Crumpaker and Jacob Axel Harkavy (2).” 1961|50th MBA reunion shooting for several new magazine Bengal Book Awards. The book and the Man from the Letter’ with Apri l 28-May 1, 2011 Ronald Lim, MBA 66, with his is available on Amazon. Doug is Philip Seymour Hoffman, who wife, Audrey; son, Chris; and always pleased to speak to groups daughter, Nicole on leadership and can be reached at [email protected].

28 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 29 MBA

Borders. The Indonesian firm I this summer to shoot a nonprofit building products for the residential to Yuko Tanaka, who is a freelance Submit your news online at 1985 1994 have been mentoring, PT Ruma, documentary film about the school http://haas.berkeley.edu/alumninotes Mauri construction industry. He writes, musician specializing in early Art Altman, MBA, directs was a finalist in this year’s Global and how the visionary Mrs. Zikhali Schwartz, “The market has been tough, but keyboards. We have two little boys, research in energy-derivative risk Venture Business Competition has built the school up from under MBA, we have made it through and Colin (2) and Evan (4 months). implications of wind, solar, and Alumni Notes sponsored by Haas. You can follow four trees and dealt with all the of San just completed an acquisition in We live 10 minutes from campus demand response at the Electric my blog, Banking on the Poor, many challenges it has faced, and Francisco, Illinois to add a fifth manufacturing in the Oakland hills and have the Power Research Institute, which focuses on adapting financial still faces. We are on the Web and writes, “I am location in the U.S. Domestic luxury of being able to visit Haas Palo Alto, Calif. Those with related services to the needs of the poor. Facebook: Under Four Trees.” happy to manufacturing does still exist. quite frequently.” interest please email aaltman@ 1978 Nancy continues to run her global say that my My wife, Maureen, and I just epri.com.” Raymond Fry, MBA, of business, Starr Capital LLC, Richard Newirth, MBA, 1981|30th MBA reunion business, celebrated our 25th wedding Oakland, Calif., writes, “After a long which provides financial planning writes, “After a long stint in San Apri l 28-May 1, 2011 Career anniversary in 2009. Our son, Frédéric Charles, MBA, career at Levi Strauss, I became and investment management for Mauri Schwartz, Matthew, graduated from the Francisco as director of cultural Derrick Mar, MBA 91, with family writes, “Will be traveling in the MBA 85 Insiders, is a certified senior advisor and now U.S. citizens living abroad.” University of Michigan, and our affairs, I relocated to Vancouver Bay Area in July with my wife growing for all technology, engineering, do reverse mortgages. I recently 1982 daughter, Amanda, is in her second 2 1/2 years ago. I’ve just been and kids. Would love to see some steadily. I enjoy helping job seekers operations, and customer service started doing a commercial on 1980 Kirsten (Hydorn) year at the University of Dayton.” formally named managing director folks again. Contact me frederic. Comcast in the Bay Area on both market themselves and beat the of cultural services for the city functions for the company. I am Emilene (Emmy) Fearn, McCarthy, MBA, writes, “I [email protected], and next time CNN and the Hallmark channel. tough competition in this rough job of Vancouver. It’s been a great having a blast! My wife, Korianne, MBA, writes, “At the time most have been working for an amazing 1989 come to see us in Paris!” I also managed to get www. market. It thrills me to know that transition, both professionally and and I have been blessed with two of my colleagues are planning Bay Area nonprofit organization, Neal Civjan, MBA, of mrreverse.net as my Web site. After they are getting more interviews personally, and I hope that any healthy and playful boys, (6) and for their retirements, I’m working Students Rising Above, for three Palo Alto, Calif., has been at Sun Bruce Deaner, MBA, six years doing reverse mortgages, I and landing new jobs because of colleagues who are up this way (3). It is joyful to spend our time writes, “After moves to and from toward finishing up my PhD in years now. My main responsibility Microsystems, acquired by Oracle, still haven’t done one for a Cal alum, our work. In addition, we are getting get in touch. Sorry to have missed with them.” Singapore, my family and I have education at Berkeley, with an is managing the volunteer mentor for 15 years. For the last nine years obviously not having mastered the more and more outplacement the reunion!” settled back into life in Tokyo emphasis in special education. I program. If you are interested he has been running the World Susan (Persin) art of networking.” work from companies who find and are enjoying the fabulous still live in Oakland with husband, in mentoring a student as they Wide Software Licensing team Underberg, MBA, writes, us an effective and cost-savings Takuo Nishikawa, MBA, nature and outdoor activities Jeff, MBA 83; daughter, Dria, go through college, please responsible for revenue of “Matt Anderson, MBA Robin alternative to the big guys in this writes, “As a director of Institute available nearby. This winter a UCLA and UC Hastings grad, check out our Web site www. all software products at 90, and I sold Foresight Analytics, William, market. I am also excited to be of Asset Management Research we had the opportunity to ski at who’s now an attorney in San studentsrisingabove.org. My own Sun including Java, Solaris, the business we founded five MBA, of an adjunct advisor at the Haas at Nikko Financial Intelligence, Rusutsu (Hokkaido) and Niigata, Francisco; and son, Jonathan, a children are almost fully grown—the Middleware, Desktop, and years ago, to New York-based Concord, Career Center, which is probably I’m involved in investment both top-class ski areas. Highly UC Davis grad who’s finishing up youngest is now a sophomore in Virtualization. At Oracle, he is vice Trepp in February. Matt and I N.H., writes, the best university career center in management for both individuals recommended. On a professional his master’s in computer science college. My oldest is working for a president of the Java Division. are very excited to join the Trepp “I retired in the country. The staff and services and institutions. Tetsuya, my only note, I am now with Goldman engineering. Over the past five nonprofit in Massachusetts and my team and look forward to having 2008 after offered to students and alumni are son, is 17, an anxious age between Sachs, leading a team to deliver years, I’ve taught new teachers at middle child (and only Cal grad!) is 1990 a wider audience for our products. 27 years in extensive. I delivered the career boy and adult being taken care world-class solutions across the San Francisco State University and about to start a career at Morgan Britt Anderson, MBA, is We’ll continue to be based in the insurance development workshop at our of by Etsuko, my wife, and me. APAC region in the derivatives industry, the am currently teaching students with Stanley. My husband is running reunion on April 23.” litigating trademark and copyright Oil painting and playing the sax still Oakland.” Robin William, space. If you visit Tokyo, please last eight disabilities at College of Alameda. an asset management company cases around the country and dominate my pleasure time MBA 78 Steven Sterns, MBA, of feel free to drop me a line and serving Once I complete my degree, I plan in Tokyo, so I have plenty of time Julia (Szerdy) Young, counseling clients on international on weekends.” Oakland, Calif., writes, “I“ve been if possible join in on Haas and as chief underwriting officer of to teach and do research at the to devote to friends, SRA, and MBA, writes, “I have stayed in brand protection. He and his wife, and the director of IT for Flip Video Berkeley alumni activities here.” Partner Reinsurance in the U.S. university level in the field of special two dogs!” the Bay Area since departing UCB Karyn, live in Los Gatos, Calif. His Linda Wood, MBA, for the past year and a half. We After retirement, I moved from education.” and now live in Noe Valley in San son, Justin, is a freshman at Cal. Dave Sutton, MBA 90, Jim Kamradt, MBA, of met at Haas, married, and are living were purchased last May by Connecticut to New Hampshire and 1984 Francisco with my husband, Ray Marin County, Calif., is the director Gunnar Rydning, MBA, Patrick Costanzo, MBA, in Berkeley with their two children, Cisco Systems, and I’ve been am currently enjoying exploring Philip Mitchell, MBA, of Swartz, MBA 81. After stints of national accounts for the writes, “I have been a partner of Pleasanton, Calif., writes, Catherine (10) and Jonathan spending my time integrating the New Hampshire, Boston, the Oakland, Calif., writes, “2010 is a in human resources/organization securities division of Thompson in a Norwegian venture capital “After 14 years with the same (7). Dave works for the Trust for business systems into the Cisco seacoast, and wider New England. year of transitions. My daughter is development in Silicon Valley and National Properties, a leading firm since 1986. The firm was home builder, I joined Regent Public Land, creating parklands in IT organization. Barry and I just I play a lot of chamber music, enjoy graduating this June from UCLA on the road as a management sponsor of public and private real named Four Seasons Venture Properties as division president, California and Nevada, particularly celebrated our 18th year together. the family, and very occasionally do with a PhD in biochemistry. My son consultant, I have spent the past 17 estate investment programs.” from inception until we changed Northern California region, in in the northern Sierra near Tahoe. I wrote a novel and hope to get it some consulting work. Now that is living in Berkeley and attending years as a founder and principal at the name in 2006 to Verdane January 2009. I have been Linda heads up the leadership published this year.” writes, “I I have some post-retirement free Berkeley City College. Also, with Facilitate.com, a small business Jeff Kragen, MBA, Capital. www.verdanecapital.com. re-positioning 60 acres in Dublin programs and grantmaking for the continue to work for Merrill Lynch time, I look forward to some my upcoming eligibility to retire specializing in collaborative group I live in Oslo, Norway, and I have and seeking additional assets/ Evelyn & Walter Haas, Jr. Fund in 1992 in Walnut Creek, where I provide West Coast sojourns, and perhaps from IBM, I am gearing up for a processes and Web meeting been married to Helen for 27 years notes to acquire throughout the San Francisco. Arden Koontz, MBA, of financial planning and investment visiting Haas for some of the transition to a new and meaningful software. I continue to be delighted and have three boys, Haakon (26), region. Our daughter, Kristina (6), El Cerrito, Calif., writes, “After management services to high net- alumni events.” challenge. In true Cal spirit, I am and humbled by the ability to run Anders (24), and Erik (20).” an international business from a is truly a joy to spend time with. My a stint back at Haas working worth individuals. I recently earned interested in changing the world! 1991|20th MBA reunion wife, Wendy, and I will celebrate in admissions reviewing MBA the Certified Financial Planner 1979 John Simpson, MBA, of An entrepreneur at heart, I am home office and benefit from the Apri l 28-May 1, 2011 increasing necessity of businesses our 15-year wedding anniversary applications, I recently accepted a (CFP) designation. I have many Daniel Kreps, MBA, writes, San Francisco, writes, “Suzanne open to joining a startup, beginning my own new venture, or joining a to work effectively in a virtual in April.” position in business development Cal alumni as clients. Please call or “My wife, Nancy Starr, MBA and I visited South Africa on safari Derrick Mar, MBA, writes, “I dynamic nonprofit organization. I environment.” at SolarCity. It’s an inspiring place email ([email protected]) me if 92, and I have finally returned to in 2002 and have wonderful tales Quentin Falconer, MBA, was part of the management team would like to leverage my extensive to be working with a real sense you need any financial planning or our home in San Francisco after of seeing wild animals, but we writes, “After graduating from Haas, at FrontBridge Technologies, which environmental and product th of mission and possibility—and a investment advice. My wife, Kate, a 30-year global odyssey during were most touched after a visit to 1986|25 MBA reunion I entered the world of commercial we sold to Microsoft in 2005. I management background. In great solar lease program that’s and I live in Alamo with our four which we lived and worked in four the Nkomo Primary School and Apri l 28-May 1, 2011 banking and never looked back. came back to Microsoft and Seattle my off-hours, I’m playing lots of making solar power affordable children (17, 15, 12, and 9). Kate countries. We were most recently meeting its dynamic principal, I have been with Silicon Valley again after spending 20-plus years Mrs. Zikhali. We have returned tennis and learning guitar. Also for everyone. Check us out at started her own business last year in Japan, where I was the senior Bob Merrill, MBA, of Bank, which finances venture- in Silicon Valley. My heart and another four times to volunteer enjoy cycling in the Oakland www.solarcity.com.” providing commercial real estate country executive for American Chicago, Ill., is entering his 10th backed technology startup soul is still with a smaller startup, and have seen how the school has hills, hiking, and traveling. I’m appraisal services; she recently Express Bank. I am currently year as president and CEO of companies for the past 10 years. so in 2008, I left Microsoft and Bjørn-Inge Larsen, MBA/ changed the lives of the children, finding it fun adapting to being achieved the MAI designation. volunteering with Grameen CraftMaster Manufacturing I head our Northern California joined another private company MPH, writes, “I am now in the most notably the many students an empty nester.” We’re quite busy!” Foundation’s Bankers Without Inc., a leading manufacturer of cleantech practice. I am married called Varolii as the chief public sector as director general of who are orphans. We are returning technology officer, responsible health in Norway. In May, I joined the Executive Board of WHO.”

30 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 31 MBA

fun. Daughters Elise (13) and Lexi management tool with Google adventures over the years, including oversight effort that began in 2003 th organized donations from the Submit your news online at 2001|10 MBA reunion http://haas.berkeley.edu/alumninotes (12) are enrolled at the Waldorf- Apps integration and crowd- a recent trip to Peru. I think we will and provides 50 recommendations Apri l 28-May 1, 2011 Haas community to the Chilean inspired Novato Charter School. sourcing capabilities. We expect to do Alaska this year.” to improve the IMF, World Bank, Telethon with great success. Today be profitable in 2010. Saw Rob and regional development banks. they continue in an ongoing effort Clark coached Elise’s soccer Jason Gore, MBA, writes, Alumni Notes Nicholson at Whistler for a 1998 Kazu is on a two-year rotation at through http://www.buildchile. team to the Marin Country “I moved to Boulder, Colo., and ski weekend at the end of March of the IMF in Washington, D.C. He org/. Thanks for the help and thank Under-14 championship last year James Gray, MBA, launched a new startup with and many other classmates at our Woodinville, Wash., writes, “Over is living in Bethesda, Md., with his you for making us proud of our and is getting back into my business partner, Michael competitive tennis.” 15th reunion in late April. Please the last year I have been leading wife and 2 ½-year-old son. Nancy’s Haas-Berkeley spirit. Arriba Chile!” Jeffrey Johnsen, MBA, of Bissonnette, retired CEO of get in touch if you’re ever in the the investment management and firm, Interactive Technologies, Monterey, Calif., is back in graduate AeroGrow. Bissonnette Funding , 1995 great Northwest (eric.browne@ product direction for Microsoft’s recently launched the new Web Tomoko Yamabe, MBA school, this time studying marine helps startups raise capital through writes, “After six years in Tokyo, we Michaela (Schmieder) smartsheet.com).” Enterprise Data Warehouse, presence for Johns Hopkins microbial ecology/marine science. alternative financing strategies have moved to Paris, France. Look Ballek, MBA, of Munich, which delivers critical information University, ranked No. 1 in “Top 11 He writes, “I’m interested in talking Andrew Parker-Rose (right), MBA 99, and direct public offers (DPOs). It’s forward to reconnecting with alums Germany, writes, “It has been a th and analytical solutions across the Best Designed University Websites.” about green solutions for industry/ 1996|15 MBA reunion married Flavio Epstein, on May 1. been a lot of long nights, but we in Paris/Europe as well as with great journey, but now I am ready worldwide organization. My role (http://www.bivingsreport. energy and drug discovery, if you are.” Apri l 28-May 1, 2011 are growing rapidly because our fellow classmates at the 10-year to start something new. I will be within Microsoft’s IT organization of global customer support for com/2010/top-11-best-designed- strategies work in any economic reunion next spring.” Clark Omholt, MBA, is leaving McKinsey at the end of is a great fit that leverages both Guidewire Software in San university-websites/) of Mill Valley, environment. I’m loving the work founder and president of June, starting a new adventure: Jed Katz, MBA, my technical background and the Mateo, Calif. Flavio has a business Calif., writes, “Two big updates in T anya (Shaw) Steinhofer, and really enjoying Boulder.” 2002 Spectraflow, a company that sells advising institutions in the areas foundational business knowledge degree from the University of my life: Most important, Lisa and I MBA, writes, “This spring will David (Klingle) Bowman, large format inkjet printers and of sustainability, energy efficiency, I learned at Haas. Daily family life Sao Paolo, Brazil, and a PhD Coco Kee, MBA, writes, had our first baby! A beautiful boy be the one-year anniversary of MBA, writes, “The first three provides color matching services. and climate change. My McKinsey continues to be quite eventful as in psychology from Meridian “I have been traveling back and named Taylor Sean Katz, 8 lbs., 14 my financial planning business, months of 2010 have kept the He writes, “Kirsten, my wife, works experience, particularly on project my wife and I attempt to keep up University. He currently serves as forth between the U.S. and China, oz., 21 inches. I also joined former Redwood Grove Wealth Bowmans rather busy. The year as Spectraflow’s bookkeeper. It’s and knowledge management, will with fun and busy times of our five heart transplant psychologist for advising Chinese companies, both classmate and fellow entrepreneur Management. Despite the started with knee surgery denying come in handy for this exciting kids (15,13,10, 5, and 5).” Kaiser Permanente in Santa private and public, that want to go to create Javelin questionable timing (depths of me several epic powder weekends opportunity. In August, I will be Noah Doyle Clara, Calif. Drew’s son, Elias, public or are already listed in the Partners, an early stage venture Betty Kaufman, MBA, of the Great Recession) for a new in Utah. Thankfully, this was the visiting the Bay Area with my who was born during the class of states. New York still treats me well. capital firm based in San Francisco. Mountain View, Calif., writes, “After startup, things are going better lowlight of Q1. In February, we (my family and hope to catch up with ’99, just turned 11, and recently Love this city! However, I would Having a great time with both nearly 20 years in high-tech than expected. I’m particularly wife Megan, my son Jack, and I) some of my peers at Haas.” returned from a two-week trip love to visit the Bay Area and all marketing, I’m thrilled to be building enjoying the flexibility to spend welcomed my son Max into the Taylor and Javelin!” to Italy over spring break, now the old friends over there. It has an entrepreneurial wine business, more time with my two young world—undeniably the highlight E ric Browne, MBA, writes, holds a second-degree black belt been a long time since my last where I lead in-home and in-office kids and often drop my son off at of this year. One month later, I left “I’ve been keeping busy in Seattle 1997 in Tae Kwon Do, among other trip there.’ with three kids and a startup soft- Cheryl (Weiss) Hayes, wine tasting, offer personalized achievements. preschool and then continue on to Gallo after an incredible 7.5-year ware company. Smartsheet.com MBA, of Oakland, Calif., writes, wines and wine gifts, and give my office in downtown Mill Valley Leslie (Davis) Nicholson, run and accepted a position with is an online collaboration tool “Since wine-loving entrepreneurs the Colleen Reilly, MBA, writes, on my bike. Now that’s work/ MBA, writes, “Rob and I The Wine Group, a management- that’s getting great adoption as graduating opportunity to join me in this “After a few slightly tumultuous life balance! My business focus is welcomed the arrival of our third owned LLC based in Livermore, Clark Omholt, MBA 94, with family an easy-to-use project and task with my business. Please check out years career-wise, I recently settled on families with young kids and child last summer. Sydney joined Calif. As president of Underdog MBA from winetastingsandmore.com and with a startup in San Francisco socially responsible/sustainable big sisters Marlee and Georgia Wine Merchants (the premium the evening/ youtube.com/bettykaufman to learn as their VP of marketing, which investing. Check it out: www. in cheering for teams USA and wine division of The Wine Group), weekend more. Cheers and go Bears!” I’m really enjoying so far. Small- redwoodgrovewm.com.” Canada during the winter Olympics I’ll be leading the creation of a program, I company life and dynamics are in Vancouver. With a 5- year-old, a portfolio of wines from around the Jonathan Weinstein, entered the definitely for me! I’m still living in 2000 3-year-old and almost 1-year-old, world. We’re excited to be settling Send a photo of yourself MBA, of Washington, D.C., writes, amazing field San Francisco and have a relatively Pascal Hoffmann, MBA, just getting out of the house in down in Pleasanton with a new job, in Haas Gear in an exotic, “In March I celebrated one year at Enter the of real estate. new addition to my family—Maya, a of Oakland, Calif., writes, “I’m the morning can be a challenge a new house, and a new baby. And far-flung location to Unity Health Care, having helped Cheryl (Weiss) I have been rescue dog, who reminds me every contributing to knitting together of Olympic proportion! The I’m looking forward to putting some [email protected]. Hayes, MBA 97 raise over $50 million in state and providing day of the importance of work-life two large banks, Wells Fargo and girls are loads of fun and keep outstanding wines into the hands federal grants to go along with Haas Gear The most unique photo will financing for single-tenant balance. I continue to volunteer Wachovia, to build the largest us laughing.” of many Berkeley alumni in the private bank financing to build three appear in the next issue of commercial buildings for the past with a couple of educational bank in the United States with a coming years. Cheers!” new community health centers and Carlos Soublette, MBA, CalBusiness, and the winner eight years with GE Capital Real organizations locally. Life is good, network of 6,500-plus branches. Photo renovate another. The project of Santiago, Chile, writes, “Thanks Greg Campbell, MBA, of Estate. I work with small- and and I wish everyone the best!” In the division targeting mid-size will receive a $50 Haas management work coordinating to everyone in Haas for their Laguna Hills, Calif., writes, “Jeanine medium-size businesses, investors, businesses, my role focuses on Gear gift certificate. these developments has been Celebrating the second day of continuous support to the Chilean and I had a beautiful baby girl, Contest! and developers to provide financing sales strategy and planning. It’s challenging and is going well. On a spring and the melting of 48 inches Haas community during the Cambria Raquel, last August, which for both owner-occupied as well an interesting and challenging Gary Coover, personal note, Stacie and I and our of snow, MBA 99 classmates last weeks after the earthquake. increased our family size to six. MBA 10, as leased investment buildings experience to participate in a large 3-year-old son, Evan, welcomed our Nilmini Gunaratne Rubin, The Haas community in Chile is Dawson is nearly 8, Everett is 5, wearing his that have just one tenant. The past merger integration.” Haas T-shirt daughter/sister, Natalia, to the family MBA, (and her daughters Renuka doing well and we are working to and Sidney is 3. We’re having a lot in South couple years have been interesting in August 2009.” and Araliya), Kazu Masaki, Kaoru Kano, MBA, writes, “I rebuild our beautiful (sometimes of fun. I highly recommend weekly Africa and challenging, but I have had a lot MBA, and Nancy Riess, am currently living in the Midwest shaky) country. From the first days family night. Thank goodness the of fun helping many people finance 1999 MBA, enjoyed a reunion in working for Eli Lilly & Company in we received numerous emails apartment industry seems to be their real estate investments. My Baltimore, Md. Nilmini recently the global neuroscience marketing asking for us and our families; we holding up in this downswing.” husband, Scott, and I got married in Andrew Parker-Rose, , and Flavio Epstein authored The International team. My husband, Steve, and appreciate your concerns, support, 2004 in Certaldo, Italy, with a small MBA were married on May 1, 2010, Financial Institutions: A Call for our sons, Ray (5) and Luca (2), are and affection. The LAHBA crew group of friends and family. We love surrounded by family and friends at Change, which encapsulates enjoying life in Indianapolis. Such a to travel, explore, and do things their synagogue in San Francisco. Indiana Senator Richard Lugar’s great place to raise children, but we outdoors, so we have had many Drew currently serves as director miss the Bay Area.”

www.haasgear.com

32 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 33 PhD

Submit your news online at http://haas.berkeley.edu/alumninotes

Alumni Notes been about 100 percent of my engineering institution in Southern Richard Velazquez, MBA, 2005 2007 Olympics in Vancouver by earning Sanjay Choudhry, MBA, time. I’m still happily with IBM. I just India), and co-organized the first- of Redmond, Wash., writes, “On John Cornwell, MBA, Nicole Baer, MBA, writes, the first gold medal in the event of Sunnyvale, Calif., joined the finished up construction of a large ever Bay Area NITK alumni event a personal note, my father, Vidal writes, “Last year I married Briana “I recently took on a new role at in 62 years. Leading a national board of Karmic Foundation house and I’m applying for one of on March 13, 2010, at Santa Clara. Velazquez Sr., passed away in an Anderson at the Corinthian YC in Radford/Aon as vice president of governing body is very much like Organization. Karmic provides a Maui’s new B&B permits, which He writes, “It was exciting to see automobile accident on Feb. 25 Tiburon, with us spending our sales and marketing. We are also running a small business. I’ve been sophisticated Web-based platform while visiting our family in his native able to apply my MBA education for individuals, corporations, and legitimizes doing short-term rentals nearly 100 alums attend. Work- honeymoon in Rome and on expecting our second child and are Puerto Rico. As a U.S. Army veteran, to everything from marketing and institutions to participate in the in a residential neighborhood. wise, I have solidified my career in Sardinia. Recently, I joined both awaiting the completion of our new Vidal Sr. received a funeral with venture-backed vaccine company East Bay home in June, just in time sales to operations and finance. social transformation of India, Here’s a good overview of my product marketing after completing full military honors. Vidal Sr. was a I’m spending most of my time now where donors can help the poor of project, Sugar Ranch—http://www. my MBA at Haas. Going strong as Vaxart as VP of business and for our baby boy’s arrival in July!” hard-working and self-sacrificing product development and as a seeking new sponsorship partners India by giving online to a pre-cer- sugarranchmaui.com. This is a a senior director of marketing at family man who always put the managing partner of Falcon Nate Bucholz, MBA, writes, as we begin our planning for the tified NGO of their choice. Sanjay Flickr slideshow and the last picture a private chip design automation needs of his children above his own Partners, a newly formed real “Back in December, I spent a month next Olympic Games in Sochi, is currently responsible for product shows my family including my now company.” and instilled in his six children a estate investment fund based in in Mexico City as part of a Google Russia, in 2014. You can learn more and release management at MSC 21- month-old baby boy, with all of great sense of honor and commu- San Francisco. I’m really enjoying rotation program. That trip reignited about the team at http://bobsled. Software, a portfolio company of

us at the beach behind my house. Adam Goldworm, MBA, nity service that we carry forward the challenge of working in two the travel bug. In May, my wife, teamusa.org.” Symphony Technology Group. celebrated the one-year anniversary today. We all love him and will Anya, and I will move from Seattle In this position, he is responsible for I’m expecting a second child, a baby disparate industries.” of Foster of Aperture Entertainment, his sorely miss him. On a professional to London, where I’ll work out of Victor Tse, MBA, product strategy, planning, pricing, Emile Cortes, MBA 02, stands on the girl, in about two months! If you or note, I was prominently featured in Apurva Davé, MBA, of San Google’s European headquarters City, Calif., planned to bicycle in quality, documentation, training summit of Round Top, a Tahoe peak anybody you know is thinking of a new management/production June in the AIDS/LifeCycle 9, a she climbed on a recent training trip. the February/March 2010 issue of Francisco, writes, “Has it already for advertising and sales. If you are and university program of all of trip to Maui, please contact me and I company. Aperture set up 7-day, 545-mile bike ride from San several major motion pictures, Latino Leaders magazine on a seg- been five years? The Bay Area has in the area, look us up!” MSC’s software and enterprise Emilie Cortes, MBA, has can provide an insider’s guidance on ment for emerging leaders in the treated me well since we gradu- Francisco to Los Angeles to make products. Prior to that he was VP including “The Last Witch Hunter” left her role as account manager for where to stay and what to do when Pacific Northwest. While the article ated. I’m engaged to Heather Mills, John Donovan, MBA, of a world of difference in the lives of of products at Marc Analysis Axioma Inc. and is joining a small in Maui. Aloha.” written by Aperture client Cory was written before my father’s and we’re tying the knot this August San Francisco, has been splitting people living with HIV and AIDS. Research Corporation, managing Thanks to generous donations multinational Himalayan expedition Goodman to be directed by Timur passing, I have pointed out that I in Mill Valley, Calif. I continue to his time doing business develop- all aspects of the products. Sanjay ment for a small biotech and prac- from colleagues, friends, and to climb the world’s fifth highest Eric Meyerson, MBA, of Bekmambetov (“Wanted”) and owe all of my accomplishments to travel the world, surf, and back- has a B.Tech. in mechanical engi- San Francisco, writes, “I recently distributed by Summit (“Twilight”), my father. Rest in peace, Dad.” pack. I’m now the vice president of ticing anesthesiology. Earlier this Haas alumni, he has raised a few neering from the Indian Institute of mountain, Makalu. When she year he helped lead a 15-member thousands dollar so far.” returns in June, she will join Alan started a job at Google, where I’m and “Nocturne,“ written by Jeremy product marketing at Riverbed, the Technology at Kanpur as well as an company I joined right out of Haas. surgical team that traveled to Haiti MS and a PhD in engineering with Biller & Associates as a senior leading the business marketing Passmore and Andre Fabrizio Kamesh Tumsi, MBA, of Please keep in touch!” shortly after the earthquake. focus on computational mechanics investment consultant in Menlo team for YouTube and Google with Len Wiseman (“Die Hard 4”) Atlanta, Ga., is heading product management and strategy func- and applied math from Ohio Park, Calif. She continues to live in TV Ads. Almost simultaneously, directing. Aperture client Jessica Colin Duthie, MBA, my wife, Annette, gave birth Lowndes can be seen every week tions to create innovative products State University at Columbus. Millbrae, Calif., with her boyfriend and wife, Janelle, are proud to He has numerous publications to a wonderful baby boy, Judah. as Adrianna on the CW’s hit series at Allconnect, a 600-person com- and climbing partner, John, and two announce the birth of a baby boy, and has been an invited speaker Older sister, Ellie, is thrilled. Life 90210. Upcoming releases “Red Campbell Robert. He was born pany focused on helping customers cats, Espresso and Biscotti.“ with convenient solutions for a in several national and international is awesome.” Dawn” (MGM), “Priest” (Screen on Dec. 16, 2009, weighing 7 conferences. pounds, 6 ounces. The family broad range of home services. He Justin Gordon, MBA, Gems), “Fix,” “Red, White, and Blue,” is playing a key role in transforming writes, “Shortly after I graduated 2003 and “Altitude” were also created by resides in Hermosa Beach, Calif. Christopher Cronk, MBA, Richard Velazquez, MBA 03, with the company from a B2B focus of San Francisco, and Kara Fischer from Haas, I joined a Bay Area Jay Atkinson, MBA, writes, Aperture clients. father, Vidal Velazquez Sr. Toshiharu Sakurai, MBA, to a consumer-focused brand by (travel/study, Stanford Alumni technology startup named Trigo, a “Julie and I have returned to San creating deeper relationships with Siddharth Sanghvi, MBA, of Tokyo, Japan writes, “I am Association) were married in company that makes a product that consumers. Francisco after spending the last of Oakland, Calif., writes, “At the working as EVP of Mitsui Medical San Francisco Jan. 30. is now called IBM’s Master Data three years living in China. Most beginning of this year Priya 2004 Associates Co. since July 2009, Management Server for Product important, I would like to announce Haji, MBA 03, David Steven Egli, MBA, was helping health care providers (hos- 2009 Information Management, which the birth of my son, Trey Xavier, on Guendelman, MBA 06, recently named associate director pitals) improve their purchasing of Charlene Chen, MBA, pretty much sums things up. The March 8, 2010.” and I sold the World of Good brand at the investment bank Sandler medical devices and supplies. Our writes, “At the beginning of April, I PhD company was acquired by IBM in to eBay. Over the last six years O’Neill & Partners L.P. Steve three daughters (15, 12, and 9) moved to Nairobi to start a new job are growing up quickly. Quite noisy 2004, and the product is used by Francesco Carantani, we have grown World of Good advises financial institutions as a product manager at KickStart 1968 throughout the western United at home.” large retailers to gather information MBA, writes, “Cristina, Paolo, from a business plan at Haas to International, a nonprofit whose Sayuti Hasibuan, PhD, States on mergers and acquisitions mission is to help millions of people from thousands of suppliers into and I moved from Singapore to a venture-backed company con- Phil Strauss, MBA, of John Donovan, MBA 07, volunteers writes, “After working for the gov- as well as capital raising alterna- in Haiti. out of poverty by promoting sustain- Istanbul in February 2009, and the necting artisans from developing San Francisco, is a business devel- ernment of Indonesia from 1971 to one consolidated place so that tives. Steve is married to Sarah able economic growth and employ- family grew larger just a couple of communities with mainstream opment executive with Xerox 1996, I am now back in the educa- the information can be reviewed, Leeper, who was just promoted ment creation in Kenya and other months later when Isabella was retail markets. Through partner- Litigation Services, a division of tion business as dean in the depart- enhanced, and manipulated, such to partner at the law firm Manatt, developing countries. We develop ships with Whole Foods, Disney, Xerox Corp. providing software 2008 ment of economics at Al Azhar as being translated into different born. I am still keeping myself busy Phelps & Phillips LLP, and and promote technologies such as Hallmark, and eBay, World of Good and services for litigation support Bonghun Lee, MBA, is asso- University Indonesia. I have three languages. This information is then at Italcementi, while Cristina they currently reside in Mill foot-powered irrigation pumps that built market access for 25,000-plus and discovery. ciate director, corporate finance for children, one deceased, and six is looking at starting her small Valley, Calif. can be used by entrepreneurs to typically exported to other systems, global producers from more than Standard Chartered First Bank grandchildren. You may access my business. We welcome visitors!” 70 countries. I am now the general establish and run profitable small- such as e-commerce engines that Julie Maas, MBA, writes, Korea Ltd. writings at www.uai.ac.id in English. manager of WorldofGood.com at th MBA reunion scale enterprises. Since I sadly power shopping Web sites. Back Ramesh Dewangan, MBA, “We are enjoying our fifth year in 2006|5 I would like to hear your comments eBay, and Priya is advising the eBay of wasn’t able to attend our one-year in 2000, I purchased 2.2 acres San Diego now. I’m also happy to Apri l 28-May 1, 2011 Darrin Steele, MBA, and please send them to me at has been involved in Toastmasters Global Citizenship team on their Colorado Springs, Colo., writes, “In reunion, I’d like to extend an invita- of land next to the beach in Maui. have launched my new business, [email protected].” for more than four years and now sustainable shopping initiatives. 2007 I accepted the position of tion to everyone to come visit me After IBM acquired Trigo, I learned California Mediterranean, earlier Wes Kong, MBA, of San is vice president of education for We are both in very good hands, CEO of USA Bobsled & Skeleton in Kenya!” this year. It’s a media company that Francisco, writes, “Working fever- of how many IBMers telecommute. the Cupertino Toastmasters Club. as Robert Chatwani, MBA Federation (I competed in 1998 celebrates elegant, green living.“ ishly to bring Bulldog Gin to In about 2006, I started spending He co-founded NITKAN, an alumni 08, the director of global citizen- and 2002 on the Olympic Bobsled California and beyond.” more than 50 percent of my time ship is also a fellow Haas alum.” Team). Our four-man bobsled team group of KREC/NITK (a premier in Maui. The last three years, it’s made history at the 2010 Winter

34 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 35 Obituaries Submit your news online at http://haas.berkeley.edu/alumninotes Bay Area Civic Leader Evelyn D. Haas WWII Veteran William Edward Cannady, MBA 60 Alumni Notes patients world-class acute medical Fed’s take on the economy and John Payson, BS 49, MBA 50 Evelyn D. Haas, a prominent Bay Area civic Longtime Cal booster and World War II veteran William Edward leader and wife of the late Walter A. Haas Jr., Cannady, MBA 60, died Jan. 19 after a period of failing health. and wellness care, including the interest rates. Read Harvey’s blog John Yohannan, BS 49 information they need to make their on the breakfast at http://www. BS 37, died on Feb. 3 at the age of 92. He was 90. personal healthcare decisions. We starmont.com/category/blog/“ Richard Carter, BS 50 Haas’ volunteer service spanned more Cannady was commissioned as a 2nd lieutenant in the National provide these services with a dedi- Meredith Clement, BS 50, than 60 years. She led her family foundation, Guard 258th Field Artillery in 1942. After sailing to Europe with cation to the highest level of patient Darryl Henley, MPH 71, PhD (Econ) writes, “I was a hospital adminis- the Evelyn and Walter Haas Jr. Fund, to con- 40,000 soldiers on the Queen Mary, he served in Normandy and then satisfaction by delivering the best Roger Lance, BS 50 BCEMBA quality of timely care with compas- trator from 1965 to 2001, with tribute more than $364 million to hundreds went on to help free Paris from the Germans and fight in the Battle sion and personal attention. As the several gaps in related fields. I have Simon Levine, BS 50 of cultural, civic, and social service organiza- of the Bulge. He served with U.S. Occupational Forces in Germany 2004 founder and the medical director been managing the Los Banos David Nichols, BS 50, MBA 55 tions —from the San Francisco Museum of for two years after World War II ended, was discharged in 1948, and Cemetery for the past eight years, Jing Wang, BCEMBA, of Best MD House Calls, I welcome Daniel Raymond, BS 50 Modern Art to Crissy Field. received a bronze star for his service in Normandy. any comments or feedback at so I have done well with my Cal writes, “My family and I have moved George Denton, BS 51 In 1989, Walter Haas Jr. and his siblings— Cannady worked for Standard Oil overseas before earning his temporarily to Beijing, China, since [email protected].” education.“ Mario Fausone, BS 51 Peter Haas, BS 40 (Econ.) and Rhoda Haas MBA. Then he worked as a securities analyst and moved to Crocker May of 2009. I’m working with the Goldman, BA 45 (Child Dev.)—contributed $23.75 million to the new Bank, retiring in 1984 as head of Crocker’s corporate banking division CIO of Lenovo as her TA on Lenovo Henry Fujimoto, BS 51 Haas School building complex that was named after their father, responsible for lending to energy-related businesses. business transformation projects. In Memoriam John Staples, BS 51 My daughter (9) goes to Beijing Executive Development Walter A. Haas Sr., BS 10. Cannady served as president of the California Business James McLachlan, BS 52 traditional Chinese school, and it’s Allan Brown, BS 33 Evelyn Haas is probably best known in the Bay Area for her leader- Administration Alumni Association and UC Alumni Association boards surprising how quickly she picks 2000 David McPherson, BS 52, ship on the board of the San Francisco Museum of Modern Art, which and was a member of the UC Berkeley Foundation Board of Trustees. William McWhinney, BS 33 up Chinese.” Ernesto Diaz, Executive MBA 54 dates back to the 1950s. She and her late husband were instrumental Cannady is survived by his wife, Lois, and four stepsons. John Lund, BS 35 Development, of San George Hildebrand, BS 53 in helping raise $95 million to build the new museum building that 2007 Francisco, writes, “I just published Masami Oda, BS 35 opened in 1995. a book called Jesuit Education and Harold Bauman, MBA 55 Stephen Bulfer, BCEMBA, Herbert Gundersen, BS 36 Haas and her family also spearheaded the restoration of San Former Business School Dean John Cowee moved from New York to San Mathematics: Review of Literature Marvin Goodman, BS 55 Relda (Gunningham) Poffenroth, Francisco’s Crissy Field into a premier urban national park. In addi- John Cowee, former dean at the University Francisco to live out the entrepre- on the History of Jesuit Education Thomas Kelley, BS 50 (EECS), of California, Berkeley business school, died and Mathematics, based on my BS 38 tion, Haas was a leading advocate for the San Francisco Chronicle’s neur’s dream. He joined a sales and MBA 55 of natural causes on May 15, in Denver, marketing strategy firm, Method research at Dominican University of Walter Conser, BS 39 Season of Sharing Fund, which benefits families who need emer- Patricia Beltrami, BS 56 Colo. He was 91. Partners, and served several California. The book tells the story of Robert Hawkins, BS 39 gency financial assistance. high-tech and digital media clients Jesuit education and mathematics Steven Kroff, BS 56 Haas married and moved with her husband to San Francisco in Cowee served from 1961 to 1966 as since the 16th century to the Leonard Mather, BS 39 in Silicon Valley on Customer Maurice Moyal, BS 56, 1940. Her husband went on to follow his father, Walter A. Haas Sr., the seventh dean of the business school, present day. Much of it has to do John Atwood, BS 40 Intelligence challenges. In 2009, he MBA 58 and great grand-uncle, Levi Strauss, in leading Levi Strauss & Co. Haas which was later named the Haas School founded a startup called LifeCellar. with the influence of Jesuits, Jesuit Teruko Kanba, BS 40 of Business. education, and the role of math- Gerald Haire, BS 57 and her husband also owned the Oakland Athletics baseball team from com, whose mission is to simplify During Cowee’s deanship, the school individuals’ lives through smart ematics in the late Renaissance and Edwin Linsley, BS 40 Richard Redden, BS 57 1980 and 1995, watching the team win the World Series in 1989. created its first international business information management. LifeCellar the Scientific Revolution. It has all William Nelson, BS 40 Bruce R. Alexander, BS 59 Haas is survived by her three children, Robert D. Haas, a former the appeal of a great thriller: humble curriculum, and social sciences became is an interactive platform that allows Muriel Strand, BS 40 Madison Anderson, BS 59, Haas School advisory board member and former CEO and current people to intelligently manage their beginning with a small band of chairman emeritus of Levis Strauss & Co.; Betsy Haas Eisenhardt; more integrated into the overall busi- idealists choosing the best tools George Tsuchiya, BS 40 MBA 61 life information and collaborate Walter J. Haas; six grandchildren; and two great grandchildren. ness curriculum. Cowee also helped found the Chinese University with people they trust—anywhere, and methods to tackle monumental Sidney York, BS 40 David Ferdun, BS 59, MBA 68 of Hong Kong, where he developed links between Asia and the goals, hardships and struggles to anytime. Ned Baker, BS 42 Helene Montrose, BS 59 University of California. convince the current wisdom that a Albert Johansson, BS 42 William Cannady, MBA 60 Tech Entrepreneur Ajay Sreekanth, MBA 01 Raymond Miles, business school dean from 1982 to 1990, was 2008 radical change is necessary, unex- John Sweeney, BS 42 recruited by Cowee as a professor. “John’s care and concern was a Sonya pected growth of new technology John Cifranic, MBA 60 Ajay Sreekanth, MBA 01, an early UC Berkeley Business Plan and knowledge and its implications factor in my decision to come to Berkeley,“ Miles said. “John handled Kim, Paul Kemner, BS 43 John Kerckhoff, BS 61 Competition organizer and dear friend to hundreds of classmates, extending beyond the imagination, BCEMBA, faculty, and staff, died April 7 after battling a brain tumor. He was 42. both the duties of the office and the social hosting of the faculty with attacks from the competition (and Phyllis Goldberg, BS 44 Raymond Rappaport, BS 62 MD, writes, what seemed to a young scholar to be amazing ease.” sometimes from inside) and being Maxine Newman, BS 44 Jay Walton, BS 62 As a student, Ajay was heavily involved in the Haas School’s “After gradu- A World War II veteran, Cowee received a Bronze Star for his ser- forced to disband, the absolute joy entrepreneurship program. He co-chaired the UC Berkeley Business ating from the Thor Thors, BS 44 John McCallum, BS 65 of working with people that share Plan Competition for two years during its early days, playing an instru- vice in the U.S. Army in the South Pacific. After the war, he earned BCEMBA pro- your ideas and passion, and the Archie Cameron, BS 46 Barbara Rudolph Reeder, BS 66 his PhD in business and LLB (law degree) from the University of gram, I was mental role in popularizing and strengthening it. Ajay received two striving to make a difference and Cynthiana Elliott, BS 47 Harold Gaba, BS 67 Wisconsin-Madison. determined entrepreneurship fellowships at Haas: the Price Institute Fellowship have a positive impact on society. I to build a Arthur Middleton, BS 47 Richard Wolfe, MBA 67 and the Venture Capital Fellowship. Cowee became a UC Berkeley professor in 1953, teaching at the loved working on it.” startup that Brent Bradley, BS 48 Donald Sarles, BS 68 In addition to his MBA, Ajay earned a master’s degree in computer law school before becoming the business school dean. He left UC Sonya Kim, would have Gordon Cuneo, BS 48 John Jeffers, MBA 69 science from Berkeley in 1998. He worked at several tech startups, Berkeley in 1966 under what his son, John Cowee Jr., described as BCEMBA 08 a positive including Magellan, an early search engine; Silicon Graphics; and “political circumstances.“ Cowee favored the students’ Free Speech impact in our Howard Fletcher, BS 48 Eugene Thompson, BS 70 Other Affiliations Asterix Technology, which he co-founded. After graduating from Haas, Movement, which was opposed by then Gov. Ronald Reagan. healthcare system while leveraging Ludy Langer, BS 48 Carl Cerrudo, MBA 73 From 1968 to 1974, Cowee returned to Wisconsin, his home my passion in medicine and busi- he worked for Sorenson Media and GeneTree. Harvey Rowen, JD 67, a Iver Lyche, BS 48, MBA 49 Mark Beaumont, BS 77 state, and became vice president for finance and provost at Marquette ness. While I was connecting with member of the Berkeley Center Ajay distinguished himself as an undergraduate at the Indian my prospective clients (during my for Law & Technology and former Donald Mehaffey, BS 48 Michael Mullis, MBA 80 Institute of Technology Madras, where he earned both the President’s University. In 1975, Cowee became the first chancellor of the customer development phase), I member of the Dean’s Advisory Thomas Whisler, BS 48 Sunil Gupta, PhD 83 Gold Medal for the highest grade-point average and the Governor’s University of Colorado’s Health Sciences Center. He retired in 1984 have found a path to deliver world- Board and Degree, of Danville, Anne Ferrero, BS 49 Per-Alvar Magnusson, BS 84 Gold Medal for extracurricular activities. and then served on the boards of more than 50 organizations, class, same-day medicine at the Calif., had breakfast recently with Ajay was very passionate about music, in particular blues and rock. including the Children’s Diabetes Foundation in Denver, comfort of my patients’ homes. Professor Emeritus Dr. James Holliday, BS 49 Victor Thay, BS 95 He had a large, eclectic group of friends. “He was the most vibrant of the Wisconsin Heart Association, and the American Board for Special thanks to Professor Teck Janet Yellen, president of Bert McCabe, BS 49 Ajay Sreekanth, MBA 01 our classmates, first to the table with wise and provocative debate,” Medical Advancement in China. Ho for sharing his pearls of wisdom the Federal Reserve Bank of San Lawrence McGrew, BS 49 Michelle Maykin, BS 04 with me. The mission of Best MD Francisco. She talked about the recalled Susan Steiner Saal, a fellow MBA 01. “Ajay always kept life in Cowee is survived by his wife, Nancy; sons John Cowee Jr. and Joseph Moura, BS 49 Siyu Fu, MBA 10 House Calls is to provide our perspective and prioritized being true to himself.” Jeff Cowee; daughter Susan McCarthy; and three grandchildren.

Ajay is survived by his mother and his brother and an inspired community of close friends and classmates. 36 CalBusiness Spring/Summer 2010 Spring/Summer 2010 CalBusiness 37