McDonough Fall/Winter 2003 Business
Beyond the Bottom Line
Teaching Business Ethics at the McDonough School Jerome J. Claeys III (B’65) Gerard M. Kenny (B’71) Parents Advisory Council CEO & Chairman, Heitman Capital President, Kenny Construction Company co-chairs Management Lisa S. Kleinknecht (MBA’99) Ronald W. Tysoe Michael J. Connelly (B’74) Principal/Corporate, Kleinknecht Electric Vice Chairman, Federated Department Stores, Inc. Managing Director, The Carlyle Group Company Arleigh Tysoe Peter S. Croncota (B’83) Daniel K. Lahart, S.J. (B’83) Joseph F. Berardino Senior Managing Director, Bear, Stearns, President, Strake Jesuit College Preparatory Former CEO, Andersen Worldwide & Company, Inc School Gail Hamilton William H. Diamond, Jr. (MBA’83) Catherine Lawton (B’79) Vice President of Advertising, Promotion & Leadership President, Technology Growth Partners Principal & General Counsel, Sandler O’Neill Publishing, McCall Butterick & Vogue Patterns & Partners L.P. John W. Mayo William T. Divane (B’64) Lloyd R. Cunningham Dean Chairman & CEO, Divane Brothers Jonathan R. Lynch (B’88) President, Cunningham & Associates Susie Cunningham Joseph B. Mazzola Electric Company Partner, JPMorgan Partners Executive Dean for Faculty Donn Dolce (B’67) Philip A. Marineau (C’68) Donald J. Dawson, Jr. Cofounder & Chairman, Payroll 1 Inc. Ann-Mary Kapusta Senior Vice President–Investments, President & CEO, Levi Strauss & Co. Paine Webber Investments Mary Jo Dawson Associate Dean and Director Robert E. McDonough (F’49) Director of College Placement, Academy of Undergraduate Program Alfred J. Fisher, III (B’70) Founder & Vice Chair, Remedy Intelligent the Sacred Heart President, Fisher and Company Staffing Marilyn A. Morgan Dan A. English Associate Dean and Director Lawrence P. Fisher, II (B’82) William I. McInnes, S.J. Executive Vice President & Director, MBA Program Senior Vice President, US Trust Company Chaplain, Boston College Puffer-Sweiven, Inc. Lisa A. Kaminski Michael R. Fisher (B’80) C. Allen Merritt, Jr. (B’62) Kay English Assistant Dean and Director President, Fisher Dynamics Corporation Partner, Boston International Capital James Hackett International Executive MBA Partners, LLC Chairman & CEO, Ocean Energy, Inc. and Executive Education Kristin M. Fletcher (MBA’84) Chairman, ABN-AMRO, Inc., and U.S. Country Lorraine A. Montero (F’68) Maureen Hackett Virginia N. Flavin Representative, ABN-AMRO Bank Managing Director, Emerging Market Region Bruce Hall Chief of Staff Head–Latin America, Citibank N.A. Theodore Francavilla (B’74) Executive Vice President & COO, PETCO Michael T. Boyd Senior Vice President, JPMorgan Chase Bank Ellen Morrell (B’66) Susan Hall Director of Development Vice President & Principal Broker, Washington Christopher P. Franco (B’81) Robert Kushner Fine Properties, Sotheby’s International Realty Linn Donaldson (IEMBA’98) President, Rock Point Investment Partners Managing Partner, Kushner, Smith, Joanou Chief Financial Officer Daniel J. O’Connor & Gregson, LLP Mark G. Frantz (B’69) President & CEO, Paragon Computers Karen Kushner John H. Carpenter Chairman, Frantz Medical Group Chief Technology Officer Charles Palmer (B’64) Max L. Lukens J. Richard Fredericks (B’68) Managing General Partner, North American Acting President and Acting Chief Executive Robert P. Johnson Chairman, Dionise Capital, Inc. Officer; Chairman of the Board & Directors, Director of MBA and IEMBA Alumni Company, LLP Bernardo A. Giacometti (B’77) Stewart & Stevenson Programs and Volunteer Board Relations Patricia Mulvaney-Pignataro (B’81) President, Kipany Brazil Chris S. Lukens Jessica A. Botta Partner, PricewaterhouseCoopers, LLP Michael J. Gibbons (C’60) Sanford Miller Director of Communications Elaine Pochtar (B’79) Managing Director, JPMorgan Chase & Co. Chairman & CEO, Budget Group, Inc. Executive Director–Institutional Fixed Mary Kelly Miller Board of Advisors Carol A. Grefenstette (B’78) Income Sales, Morgan Stanley Managing Director, Strategic Investment Group Greg Palmer chair David Reyes (L’82) President & CEO, Remedy Intelligent Staffing. John J. (Hap) Fauth, IV (B’67) Saadadeen R. Hariri (B’92) President, Harbor Distributing, LLC Sally Palmer CEO, Saudi Oger, Ltd. President & CEO, The Churchill Companies Andrew Sachs (MBA’96) Thomas Siebert Joseph Amato (B’84) Michael E. Heisley, Jr. (B’86) President, Bethany Partners, LLC Attorney, Patton Boggs, LLP Executive Vice President, Heico Companies Head of Global Equity Sales, Lehman Brothers Charles F. Sarkis (B’62) Debbie Siebert Peter W. Henderson, Jr. (B’81) Chairman & President, Back Bay Restaurant Director of Business Development, NEWgame Doreen Amorosa (B’79) Communications Director, Talent Acquisition, Avaya Inc. Vice President, Fleet-Meehan Specialists Group, Inc. Thompson M. Swayne Robert L. Andrews (B’68, L’71) James F. Higgins (B’70) Ann Misiaszek Sarnoff (B’83) Senior Advisor, Morgan Stanley Chief Operating Officer, VH1 & CMT Executive Vice President, JPMorgan Chase Partner, Vincent Andrews Management Corp. Susan Swayne James Atwater (B’85) Paul J. Hill (B’67) John Spirtos (L’92, IEMBA’00) President, Harvard Development Inc. General Partner, OCG Ventures, LLC Robert F. Woods Senior Vice President/Branch Manager, Treasurer & Vice President–Finance, McDonald Investments William Hoefling Thomas T. Stallkamp IBM Corporation Thomas L. Bindley (B’65) CEO & Managing Partner, Chrystal Pond Vice Chairman & CEO, MSX International Mary Gene Woods Capital Partners, LLC President, Bindley Capital Corporation Robert H. Steers, (B’75) Martin E. Zweig Alison Lohrfink Blood (B’81) A. Lincoln Hoffman, III (B’65) Chairman, Cohen & Steers Capital Zweig Companies Former Executive Managing Director, Timothy P.Tassopoulos (MBA’83) Barbara Zweig John D. Bowlin (B’72) Global Relationship Banking, Citibank Former CEO, Miller Breweries Senior Vice President, Chick-fil-A, Inc. Mollie Zweig Lee C. Howley (B’70) Michael A. Todman (B’79) James J. Buckley Owner & President, Howley Bread Group Executive Vice President, Whirlpool Corporation, Practice Leader, Technology & Communications, As of November 1, 2003 Spencer Stuart Richard E. Joyce, Jr. (B’74) and President, Whirlpool Europe Managing Director, Merrill Lynch Marilouise Burns (B’80) Charles M. Trunz, Jr. (B’75) General Zone Manager, Lincoln Mercury Arlen Kantarian (B’75) Chief Administrative Officer, North Shore Division, Ford Motor Company Chief Executive—Professional Tennis, Health Systems U.S. Tennis Association Gerald T. Cameron (B’77) Edmond D. Villani (C’68) Former COO, Ibis Technology Corp. Kenneth J. Kencel (B’81) Vice Chairman, Deutsche Asset Management Head of Leveraged Finance, Royal Bank Michael L. Chasen (MBA’95) of Canada CEO & Co-Founder, Blackboard Inc.
Volume 15 Number 3 Photography McDonoughBusiness welcomes phone (202) 687-4080 McDonoughBusiness is published Jon Golden, Phil Humnicky, Karin H. inquiries, opinions and comments fax (202) 687-2017 twice a year by the Robert Emmett Lesica (MBA’95), Yu Suguira (MBA’93), from its readers. Letters should be email [email protected] McDonough School of Business for Lars Tray addressed to: www.msb.georgetown.edu alumni, parents and friends. Designer The Editor Send address Editor Nancy Van Meter McDonough Business changes/additions/deletions to Jessica A. Botta The Robert Emmett McDonough [email protected] Director of Communications Printing School of Business or contact Alumni Records at Delancey Printing Georgetown University (202) 687-1994. Contributing Writers 206 Old North William M. Emmons III, Peter P. Gasca Washington DC 20057 (MBA’03), Jeanne K. Miles, Madhavan M. Parthasarthy, Ada S. Polla, Tom Price, John Ries (MBA’02), Natasha Rodriguez, Marc B. Sherman, Eman Quotah McDonoughBusiness Fall/Winter 2003
Departments 15 Intellectual Capital Faculty in Focus 3 Up Front Associate Professor Rohan G. Williamson President and Provost Appoint Dean Search Committee Prospectus Sarbanes-Oxley: A Push Toward Board of Directors Votes to Continue Better Corporate Governance Planning for New Business School Facility
Fall Rankings Results Reported 28 Corporate Profile Case Team Finishes Strong at International Business Challenge Citigroup
Williams Named to U.S. Council on Foreign Relations 30 Dividends
McDonough Parents Go Back to School FY03 Fundraising Update
Executive Education Update MBA Minority Fellowships
Women’s Leadership Initiative Hosts Aggarwal, Ernst Named Stallkamp Fellows Meeting of Women’s Affairs Ministers McDonough Selects Connelly McDonough Hosts Real Options Foundation Scholars Features Conference MBA Career Management Update 34 Alumni Notes 19 Beyond the Bottom Line Undergrads Explore Careers in Profile: Brendan Gaughan (B’97) Capital Markets 22 Capital Markets Research Center Profile: Mohammed Dewji (B’98) Celebrates 15 Years MBAs Witness Historic Signing of EU Constitution Profile: Michele Giddens (MBA’91) 25 MBAs Put Business Skills to Work Profile: Hadi Bahrani (MBA’03) in Faraway Places McDonough School Welcomes New and Visiting Faculty 32 Reunion Weekend 2003 MBAs Host Fall Club Days Bellwether
Winkler Celebrates 80th Birthday John J. “Hap” Fauth, IV (B’67)
13 In the Media Profile: Sally Buzbee (IEMBA’97) dean’smessage
McDonough School calendar 2004 January 12 First Day of Classes
February 10 Dean’s List Reception
March 7–13 IEMBA Current Issues Residency (Class of 2005)
13 – 20 MBA Global Integrative Experience (Second Years)
16–19 Competing in International Business MBA Integrative Experience (First Years) Jon Golden 27–April 4 IEMBA Entrepreneurship/Small Business Dear Friends, Residency (Latin America)
Your alumni magazine has a new name and a new look. We have incorporated full color on all pages, launched several new features, April 2 Parents Advisory Council Meeting and changed the name to McDonough Business to celebrate our vibrant and unique culture and to present the achievements and 15–16 Board of Advisors Meeting best thinking of our faculty, staff, students, alumni, and outside 24 IEMBA Class of 2004 Graduation Ceremony experts on the issues that are shaping our school, the business community, and our world today. May 4 Last Day of Classes There is a lot of exciting news at the McDonough School to report Georgetown Day in this issue. We have taken a major leap forward in our plans to realize a new building for the school by securing Georgetown 6 Beta Gamma Sigma Induction Ceremony University Board of Directors’ approval to proceed with the design 17 Senior Convocation phase. Thanks in large measure to the generosity of our alumni, 21 Graduate School Commencement Ceremony we raised more than $22 million in philanthropic contributions in MBA Award & Diploma Ceremony fiscal year 2003, which have markedly advanced the cause for our Tropaia Ceremony new building, the school’s research centers and career manage- 22 Undergraduate Commencement Ceremony ment programs, and faculty research. Additionally, we welcomed strong new classes to our undergraduate, MBA and International June Executive MBA programs, as well as accomplished new faculty to 4–6 Reunion Weekend our management and marketing areas. You will read about these (For classes ending in 4 or 9) achievements and many others in the following pages.
The pride, loyalty and involvement of our graduates will be critical July 1–Aug 11 Oxford Program for enhancing our academic excellence and culture in the years ahead. As we begin 2004, I look forward with hope to a period of even greater achievement by our students, alumni, faculty and staff as we August work together to bring the McDonough School to new heights. 7–14 IEMBA Overseas Residency
Sincerely,
John W. Mayo Dean
2 McDonough Business upfront
President and Provost Appoint Dean Search Committee ollowing up on Georgetown University President John J. DeGioia’s August F2002 charge to launch an international search for a permanent successor to former Dean Christopher P. Puto, the university has named a 10-person search committee. Pro- fessor J. Keith Ord chairs the committee. The other members are: Elsa Carlson McDonough Professor of Business Admin- istration Prem C. Jain; Associate Professor Bardia Kamrad; Professor Douglas M. McCabe; Professor Marcia P. Miceli; Asso- ciate Professor Elaine Romanelli; Professor A conceptual rendering of the south facade of the new planned McDonough School building of Government Anthony C. Arend; John J. Fauth IV (B’67), President and CEO, The Board of Directors Votes to Continue Planning for New Business School Facility Churchill Companies, member of the Georgetown University Board of Directors, he Georgetown University Board of we will be housed in one of the finest busi- and chair, McDonough School of Business Directors at its September meeting ness school buildings in the world.” Board of Advisors; second-year MBA candi- voted to continue planning for a new T The school has already raised more than $43 date Brent E. McGoldrick; and senior Julie building for the McDonough School of million towards the new facility. L. Davies. The university has engaged the Business by authorizing expenses of $5.7 Washington, D.C. office of Isaacson, Miller million over the next year. The vote means “I am very grateful to John Mayo and the as its search consultant, represented by John that the McDonough School will initiate the McDonough School leadership for their Isaacson and Barbara Stevens. development of full architectural design and work with the people in facilities, finance, construction documents for a new business and the board in understanding and defining The charge of the committee is to provide school facility. the school’s ambitious and aggressive President DeGioia with a list of three to response to the challenges this project will five unranked candidates by early spring “This is a major step forward in helping us propose,” said Provost James J. O’Donnell. “I semester 2004. realize the dream of a new building for the am confident that we will achieve in this a McDonough School of Business,” said Dean During the fall semester the committee new facility that will be of great importance John W. Mayo. “I am thrilled at the prospect screened candidates and conducted prelimin- and value to the whole of the main campus of a day in the not-too-distant future when ary interviews. The committee planned to and indeed to the university.” bring short-listed candidates to campus to meet members of the McDonough School and the Georgetown community during McDonough School in the Rankings December and January. Financial Times Economist Intelligence Unit U.S.News & World Report EMBA Ranking (October) “Which MBA?” Ranking (September) (October) 10th best EMBA program 27th best undergraduate in the U.S. 27th best full-time MBA program program worldwide 15th best EMBA program 7th in International Business worldwide For more information BusinessWeek on rankings, visit the EMBA Ranking (October) McDonough School news 11th Best EMBA program Web site at Forbes msb.georgetown.edu/news 1st in Strategy MBA Ranking (October)
3rd in Global Business 24th best full-time MBA program
McDonough Business 3 Case Team Finishes Strong at International Business Challenge
fter defeating last year’s winning judges, Georgetown and Berkeley were the school in the preliminaries, the clear favorites,” Emmons said. Despite AMcDonough School’s undergraduate Berkeley’s ultimate victory, BroadQ’s Vice case competition team narrowly lost to the President of Marketing Mary Browning University of California, Berkeley in the finals declared Georgetown’s recommendations as of the 10th annual International Business “the most creative solution presented at the Challenge (IBC) held at the University of competition.” Stacey Zuniga, BroadQ’s Vice Texas, Austin in October. The invitation- President of Corporate Development, said, only event included teams from 18 universities “After seeing Georgetown’s presentation, I in North and South America, Europe, and have begun generating some new ideas for Asia. Georgetown’s team included McDon- ways we can approach the incredible chal- ough School of Business seniors Mary Clare lenges we face in distributing our innovative Haskins, Amol Luhadia, Jason F. Reid, and software products.” The McDonough School’s International Business Sharon L. Sweeney. Challenge case competition team (from left to Georgetown’s performance also caught the right): seniors Jason F. Reid, Sharon L. Sweeney, This year’s competition featured a case study attention of faculty advisors from other par- Mary Clare Haskins, and Amol Luhadia, with of BroadQ, an entrepreneurial software com- ticipating schools. Eric LeBlanc of Queen’s Associate Professor William M. Emmons III pany specializing in streaming home media University (Ontario) concluded that software. Student teams were given 60 hours “Georgetown has clearly demonstrated that to analyze the case and present their analysis it is a contender at the highest level. This and recommendations to a panel of judges, will put the school ‘on the map’ for future including BroadQ executives. invitations to case competitions, not only in Williams Named to U.S. Council the United States, but also to top interna- on Foreign Relations Participating in the competition for only the tional events held annually in Canada, second time, Georgetown’s strong perform- awrence H. Williams, member of the Europe, and Hong Kong.” ance took many IBC veterans by surprise. IEMBA Class of 2004, has been named Associate Professor William M. Emmons Emmons had nothing but praise for the Lto the U.S. Council on Foreign Relations, III, faculty advisor for the McDonough McDonough School students, who were a nonprofit and nonpartisan organization team, noted that “Georgetown faced a tough selected to represent the school through a founded in 1921 by businessmen, bankers, challenge in its preliminary round against rigorous application process conducted last and lawyers determined to increase America’s three seasoned competitors, including Texas spring. “All four worked diligently through- understanding of the world and contribute A&M, whose team included two members out the fall coaching sessions to prepare for ideas to U.S. foreign policy. of the championship IBC 2002 team. But the event, then really came together as a Williams was selected in June 2003 as part Georgetown’s innovative analysis and flaw- team in Austin,” he said. “I was incredibly of the Stephen M. Kellen Term Member less presentation won over the judges, who impressed with their presentation and their Program, which was established to reach out sent the team on to the finals.” ability to handle the tremendous pressure of to the next generation of leaders between the competition, especially in the final round.” The final round pitted Georgetown against the ages of 28 and 34 and allow them to teams from the University of Hong Kong, In April, Georgetown will make its first interact with seasoned foreign policy veterans Thammassat University of Thailand, and appearance at the Global Business Challenge, such as former President Bill Clinton (F’68), Berkeley—a perennial powerhouse on the held annually in Seattle at the University Louis Gerstner Jr., and George Soros. case competition circuit. Emmons described of Washington. Members of the team will “Now more than ever it is important for the the outcome as a cliffhanger. “After grueling include McDonough School seniors David United States to maintain strong cooperative 45-minute sessions with a panel of 12 expert J. Gold, Daniel M. Moreira, Jennifer L. relationships with other countries,” said Paragallo, and Kevin A. Tucker. Williams. “Being a member of the Council on Foreign Relations is a great opportunity The MBA Distinguished Speakers Series Presents for me to help shape U.S. foreign policy.”
Cyrus Friedheim, Jr. Williams has his own telecommunications Chairman and Chief Executive Officer, Chiquita Brands International and technology consulting company, Williams and Associates. Previously, he was February 17, 2004 senior vice president of a global satellite Bunn Intercultural Center Auditorium company, where he led the firm’s interna- tional business development activities. In partnership with the Karl F. Landegger Program in International Business Diplomacy in the Edmund A. Walsh School of Foreign Service
4 McDonough Business upfront
McDonough Parents Go Back to School McDonough By the Numbers
ore than 550 guests, including par- Professor Ilkka A. Ronkainen (marketing); A look at the profile of incoming ents and siblings of McDonough Assistant Professor Ivo Ph. Jansen (account- McDonough School of Business students MSchool undergraduates, visited ing); and Visiting Assistant Professor Betsy Georgetown for Business Day 2003, which Page Sigman (production and operations Undergraduate was held during Parents’ Weekend in October. management). Associate Professor Alan P. Class of 2007 Attendees sampled the McDonough School Mayer-Sommer conducted a seminar on what 302 first years enrolled experience, from faculty seminars to religious can be expected from the Sarbanes-Oxley Act, 661 mean Verbal SAT score services. “Business Day is designed to make Assistant Professor Brooks L. Holtom dis- 700 mean Math SAT score our university community more attuned to cussed the development of human and social 31 states, Washington, D.C., and the challenges and opportunities available in capital in organizations, and Adjunct Lecturer Puerto Rico represented the business world,” said Associate Dean Laura Mandala presented the application of 15 other countries represented Ann-Mary Kapusta. marketing research to business decision mak- 12% ranked first in their class ing using the example of the lodging industry. 8% ranked second in their class Dean John W. Mayo welcomed the attendees 6% ranked third in their class at a Dean’s Reception on Friday evening, After the faculty seminars, J. Wayne Leonard, and the next morning kicked off the seminar chief executive officer of Entergy Corporation, MBA sessions with opening remarks in the ICC delivered the keynote address in Gaston Hall Class of 2005 Galleria. In the first series of seminars, John on the Responsibilities of Business and was 252 first years enrolled J. Powers, Jr. Professor of Finance William presented with the Dean’s Medal for Busi- 70% male G. Droms led a discussion of the principles ness Leader of the Year by Mayo and the 30% female of investing, Professor Alan R. Andreasen co-chairs of the Business Day committee, 62% domestic conducted a session on marketing social senior Adrienne M. Piazza and sophomore 38% international change, Associate Professor Thomas L. Brewer Mary R. Bakarich. Leonard is a champion 28 years average age discussed business issues related to global of environmental stewardship, low-income 5 years average work experience warming, and Associate Professor William customers, and competitive market structure 40 countries of birth represented M. Emmons, III discussed new business case initiatives in the energy business. 34 countries of current citizenship represented competition opportunities for undergraduates. 87% proficient in two or more languages “In an uncertain world, Wayne Leonard is In the second session, Professor Douglas M. coming to speak to Georgetown’s community IEMBA McCabe moderated a faculty panel on the about social responsibility and the importance Class of 2005 school’s majors, which included faculty repre- of ‘empowering the future,’” said Piazza. “We 52 students enrolled sentatives from each area: Assistant Professor hope that his speech shows students that suc- 77% men George Comer (finance); Assistant Professor cess in business is multifaceted. It is not solely 23% women Marlene G. Morris (marketing); Associate measured by financial or operational success. 15% minorities These days companies 23% international are judged by their 34 average age commitment not only 12 years average work experience to the communities 9 countries represented they serve, but to the Top industries represented: global community on information technology, defense, the basis of social telecommunications responsibility and environmental issues.” Saturday evening fea- tured the first Business Day moonlight cruise along the Potomac River, and the week- end’s festivities con- cluded with religious services on Sunday. Entergy CEO J. Wayne Leonard received the Dean’s Medal for 2003 Business Leader of the Year. McDonough Business 5 Executive Education Update
Radio Broadcasters this analysis, and then recommend branded Deposit Insurance Corporation have enrolled Tune In to Business marketing programs to reach their new mar- in the initial program, which began in Sep- ketplace positions. “Customizing executive tember and will continue through February. uilding on its education around the real problems a com- The curriculum features courses on strategy, success with a pany faces rather than offering only ‘canned’ international finance, accounting, interna- similar offer- B lectures is one of the unique aspects of the tional marketing, and leadership. Professor ing for the National McDonough approach,” Goodstein said. Reena Aggarwal is the faculty leader for the Association of The three days culminated in group projects program, and other program faculty include Broadcasters, the that gave participants the opportunity to Associate Professor Paul Almeida, Associate Office of Executive apply what they had learned to develop and Professor Ilkka A. Ronkainen, Associate Education held an present recommendations for improving Professor Teri L. Yohn, and Professor executive develop- LG’s corporate branding strategies. Robert J. Bies. ment program for Almeida radio broadcasters at the Australian Graduate “Being in Washington, we are able to interact School of Management in Sydney in August. OPIC Invests in Georgetown easily with OPIC officials in designing the Associate Professor Paul Almeida, Professor Executive Education program to suit their needs,” said Aggarwal. N. Lamar Reinsch, Jr., and Assistant Professor he Office of Executive Education and “Students will be working on projects that Brooks L. Holtom developed and taught the the Overseas Private Investment Cor- will integrate their learning across subject program, which was attended by 20 senior poration (OPIC) have teamed up to areas, and these projects are directly related radio executives. T to OPIC and its future planning.” deliver a six-month International Business “The program is an exceptional opportunity Management Program for OPIC’s managers. The program will give participants an for radio managers and key decision-makers The program, under contract for the next overview of international business principles, to broaden their business skills and improve five years, will help OPIC’s managers develop create a common vocabulary to discuss their understanding of how their station or important skills in all areas of business. issues, and facilitate discussion on pressing network can deal with increased competition Twenty-two OPIC managers along with managerial issues specific to investment and and develop the characteristics that are essen- senior officials from the Department of economic development in emerging markets. tial for success,” said Joan Warner, chief execu- Commerce, the World Bank, and the Federal tive officer of Commercial Radio Australia. The executive development program, specif- ically tailored for the radio industry, included courses on competitive strategy, Undergrads Explore Careers in Capital Markets financial analysis, presentation skills, leader- he Capital Markets Research Center sponsored “Careers in Capital Markets” for McDo- ship and negotiation, human resources man- nough School undergraduates on September 4. The program, developed by John A. Largay agement, and the regulatory environment. TProfessor of Finance David A. Walker, included a series of corporate presentations, question and answer sessions with recruiters, and informal networking. The program supplements the cor- Korean Execs Tackle Global Brand porate presentations offered through Georgetown University’s MBNA Career Center. Marketing at Georgetown Representatives from the Association for Financial Professionals, Deloitte & Touche, Goldman, Sachs ssociate Professor Ronald C. Good- stein conducted a three-day program & Co., MBNA America, Merrill Lynch, PricewaterhouseCoopers, and Promonotory Interfinancial Aon brand marketing for executives Network delivered presentations to the 150 attendees. Alumni and faculty participants included of LG Group, Korea’s second-largest James A. LaTorre (B’80), partner at PriceWaterhouseCoopers and adjunct lecturer in accounting; business enterprise and a global leader in Eric L. Schwartz (B’01), manager of information technology at Promontory Interfinancial Network; chemicals, electronics, telecommunications, and James R. Dalkin, senior manager of assurance and advisory services in Deloitte & Touche’s distribution, and finance. The program Northern Virginia office and adjunct lecturer in accounting. required LG’s executives to audit their busi- The Capital Markets Research Center also hosts a winter program on internships in capital markets. nesses from a customer-centric standpoint, develop new positioning strategies based on
6 McDonough Business upfront
Women’s Leadership Initiative Hosts Meeting of Women’s Affairs Ministers he Georgetown University Women’s McDonough Hosts Leadership Initiative and the Council Real Options Conference Tof Women World Leaders, with the support of the U.S. Department of State, he McDonough School hosted the hosted the Meeting of the Ministers of Seventh Annual International Con- Women’s Affairs on October 8. The summit ference on Real Options, “Theory offered the ministers a forum to discuss criti- T Meets Practice: Real Options Valuation in cal issues facing their ministries including eco- the Connected Economy,” in July. The nomic empowerment, political participation, four-day conference included research the education of women and girls, and the impact of HIV/AIDS on women. presentations and panel discussions by academic scholars and practitioners in Tom Copeland of the Monitor Group moderated Participants included Her Excellency Mary the field. More than 80 papers were Robinson, former president of Ireland a panel discussion at the Real Options conference. presented, and the overall conference (1990–1997); the Honorable Jean Augustine, attendance exceeded 150. The conference Secretary of State of Canada; the Honorable was organized by Associate Professor Bardia Kamrad and Professor Lenos Trigeorgis Kim Campbell, former Prime Minister of Canada; Benazir Bhutto, former Prime Min- (University of Cyprus and the Real Options Group), in cooperation with professors from the ister of Pakistan; Noeleen Heyzer, Executive University of California Los Angeles and Northwestern University. Previous Real Options Director of the United Nations Development conferences in the United States have been hosted by Columbia University, Northwestern Fund for Women; Angela King, U.N. Assis- University, and UCLA. tant Secretary-General and Special Adviser on Companies in various industries are increasingly adopting the Gender Issues and Advancement of Women; real options approach in valuing contingencies and opportunities and ministers and officials from Afghanistan, Tunisia, Mauritania, Malawi, Guatemala, inherent in capital investment projects. “Companies and con- Benin, China, Vietnam and Nicaragua. sulting firms are embracing real options as a decision-making Participants listened to country case studies tool,” said Kamrad. “The technique provides a robust investment on fundamental issues and exchanged ideas valuation framework when a high degree of uncertainty and about solutions. Also participating were management’s strategic response to changing market conditions intergovernmental representatives. affect investment opportunities.”
McDonough School of Business Associate Tom Copeland, chief corporate finance officer and head of Professor Catherine H. Tinsley, the execu- Monitor Corporate Finance, presented the keynote address on tive director of the Georgetown Women’s July 10 during the practitioner segment of the conference and Leadership Initiative and a critical force in Professor Alexander J. Triantis (University of Maryland) presented organizing the summit, said, “The meetings Associate Professor the keynote address for the academic segment. Bardia Kamrad helped establish the formation of a network of ministers, so they can continue to discuss, The Real Options conference was co-sponsored by the Capital brainstorm with each other once they are back Markets Research Center, directed by John A. Largay Professor of Finance David A. Walker, home. There was also discussion of adding and by the McDonough School of Business. The Capital Markets Research Center also IGOs to the network, since they are hosted a dinner for special conference guests at the Historic George Town Club. Dean John really concerned with the same W. Mayo, Executive Dean for Faculty Joseph B. Mazzola, and Elsa Carlson McDonough programs and policies that pro- Professor Prem C. Jain provided additional support for the conference. mote women’s advancement.”
Associate Professor and Executive Director of the Georgetown Women’s Leadership Initiative Catherine H. Tinsley
McDonough Business 7 MBA Career Management Update
Ninth Annual MBA Careers Extravaganza Kicks Off Recruiting Season he ninth Annual MBA Careers Extravaganza was held on September 5, serving as the official commencement of the roster of career activities for Georgetown MBA students Tthis year. It provided the more than 150 attendees with a glimpse into a variety of career paths and an opportunity to network with professionals in a variety of fields. Six facilitated panel discussions covered the following industries: financial services, marketing, strategy and consulting, finance and treasury, socially responsible business, and for the first time, government. Thirty companies participated in Careers Extravaganza 2003, including AOL, Procter & Gamble, Citigroup, Booz Allen Hamilton, Cap Gemini Ernst & Young, JP Jessica Botta Morgan Chase, and Friedman Billings Ramsey. Michael J. Connelly (B’74), managing director at the Carlyle Group and member of the McDonough Of the 40 corporate guests, 15 were Georgetown MBA alumni. The panels were facilitated by School Board of Advisors, gave first-year MBA McDonough School faculty, including Executive Professorial Lecturer Gary F. Blemaster; students a real-world perspective in his presentation Executive Professorial Lecturer Kenneth E. Homa; Associate Professor Paul Almeida; Profes- at the 2003 MBA Career Management Kick-Off on August 25. sor Alan R. Andreasen; Associate Professor Rohan G. Williamson; and Assistant Professor Bennett A. Zelner.
Internships, Job placement up for 2003 he MBA Class of 2003 showed signif- icant increase over the prior year in Toffers received by graduation as well as offers received 90 days after graduation for those graduates seeking employment. In addition, the class of 2004 achieved a solid summer internship placement rate, and the school saw a strong increase in the number and types of companies coming to recruit Georgetown MBAs. “These successes reveal a strengthening of our corporate relation- ships, an aggressive employer development effort that focused on new opportunities in Phil Humnicky industries that have not traditionally Executive Professorial Lecturer Kenneth E. Homa (far left) moderated the marketing panel, recruited our MBAs, and excellent student which included Jennifer C. Thompson (MBA’00), James L. Rianhard (MBA’00), Brian G. Cooley (MBA’01), and James L. Callahan IV (MBA’96). networking efforts among alumni and other resources,” said Marilyn A. Morgan, Associ- ate Dean and Director of the MBA Program.
FAST STATS
99% placement rate for first-year MBA students seeking summer internships in 2003 (was 92% in 2002)
72% of graduates seeking employment received job offers by graduation (was 55% in 2002)
92% of graduates seeking employment received job offers by three months after graduation (was 77% in 2002)
66% increase in on-campus interviews Phil Humnicky Neil A. Blinde (MBA’02), far right, an investment banker at Wachovia Securities, 13 new companies recruiting on campus talks with first-year MBAs.
8 McDonough Business upfront
McDonough School Welcomes New and Visiting Faculty for 2003–2004
Peter DeMaeyer joins the McDonough organizational behavior from the University Sanal Mazvancheryl is School faculty as an Assistant Professor of Washington and his bachelor’s and mas- teaching the under- teaching in the marketing area. DeMaeyer ter’s degrees in accounting from Brigham graduate Principles of comes from Columbia University, where he Young University. His research focuses on Marketing course as completed his Ph.D. in marketing. His dis- strategic human resource management and well as the first-year sertation research was a methodological employee retention. He has published ten marketing core course focus on optimization of media planning. papers in refereed journals including the and marketing He earned his MBA in finance and interna- Academy of Management Journal, Journal of research elective in tional business from the Helsinki School of Applied Psychology, and Human Resource the MBA program as Economics and Business Administration Management. a Visiting Assistant Professor. He comes to and his master of science degree in electrical the McDonough School from the Harriman Rick Johnston comes engineering from the University of Ghent in School for Management and Policy at the to Georgetown as a Belgium. State University of New York at Stony Visiting Instructor, Brook, where he is an assistant professor. Patricia F. Hewlin has teaching introductory Mazrancheryl has also taught at George joined the McDo- accounting in the Washington University and at the University nough School faculty undergraduate pro- of Michigan at Ann Arbor, where he earned as an Assistant Pro- gram. He has taught his Ph.D. In addition to several years of fessor teaching in the introductory account- work experience in marketing and advertis- management area. ing at the Wharton ing, Mazvancheryl also holds a bachelor’s She recently com- School, where he is also a Ph.D. candidate. degree in engineering and an MBA. pleted her Ph.D. in Johnston has also worked as controller for management and LPL Financial Services in San Diego, Calif., Amitabh R. Mungalé is a Visiting Assistant organizational behavior at New York Uni- and as an auditor and litigation support Professor teaching Principles of Marketing versity’s Stern School of Business, where she manager at Ernst & Young. He received his in the undergraduate program and the first- also received her MBA in finance. Her dis- MBA from the Ivey Business School at the year marketing core course in the MBA pro- sertation research was on facades in the University of Western Ontario and a Bachelor gram. His research interests include workplace and her related article has been of Commerce degree from the University psychological approaches to the study of accepted for publication in the Academy of of Toronto. consumer behavior and advertising, experi- Management Review. Hewlin holds a bache- mental design, health-care marketing, and Olga M. Khessina lor’s degree in Spanish language and literature psychometric scaling. He has taught market- comes to the McDo- and English rhetoric and literature from Bing- ing courses to doctoral, undergraduate, nough School as an hampton University, and she has worked as a MBA, and executive MBA students. Assistant Professor vice president and branch manager for one Mungalé received his MBA from the teaching strategy. She of Citibank’s largest branches in New York. McCombs School of Business at the Uni- was previously at the versity of Texas at Austin and his Ph.D. in Brooks C. Holtom has University of Califor- marketing and consumer behavior from the joined the McDon- nia at Berkeley, where Warrington College of Business at the Uni- ough School full-time she earned her Ph.D. versity of Florida, Gainesville. from Marquette Uni- concentrating in organization theory. Her versity, where he was dissertation research focuses on technologi- an assistant professor cal innovation and survival in the optical of management since disk drive industry. Khessina received her 2000. He has been a master’s degree in sociology from Columbia visiting professor at University and her specialist diploma in the McDonough School since 2002, teaching sociology with high honors from Moscow management and organizational behavior in State University. the undergraduate program and the organi- zational behavior core course in the MBA program. Holtom received his Ph.D. in
McDonough Business 9 Winkler Celebrates 80th Birthday
thmar W. Winkler, professor emeritus at the McDonough School, celebrated his O80th birthday on June 5. “Eighty years is a long, long time,” Winkler says. “Of these MBAs Witness Historic Signing of I have spent 42 years at this university—that is Draft EU Constitution over half my life.”
econd-year MBA students Lars Tray Winkler taught applied statistics, business statistics, and Jennifer R. Blackmon and statistics for accounting, production, price and
MPP/MBA student Alexa M. Fernan- Jessica Botta S labor statistics, operations research, mathematics dez were present in Brussels at the plenary Family members, faculty, staff and friends toast session of the European Convention on July for management, and decision theory during his Professor Emeritus Othmar W. Winkler. 10, when Convention members ratified a 32 years of active teaching at Georgetown Univer- draft Constitution for Europe. Convention sity. He was the first faculty member in the business school to be promoted to full professor, and was Chairman Valéry Giscard d’Estaing, the for- also the school’s first professor emeritus. Retired since 1993, Winkler continues to ride his bike every mer president of the French Republic, was day to the university, where he does statistical research in preparation for his talks at international the first to sign the document. The students’ meetings of statisticians. He also serves on the McDonough School’s Executive Council, and after 40 visit to the Convention was part of an EU years, on the Undergraduate Admissions Committee. tutorial in the Graduate Business Program in International Management at Oxford, Winkler’s family hosted a mass in Dahlgren Chapel and a reception in Old North on June 20 to cele- England. Tray, Blackmon, and Fernandez brate. Many McDonough School faculty and staff and Georgetown alumni were in attendance. spent three days in Brussels as part of the Every year since his retirement Winkler has presented the Othmar W. Winkler Award to a graduating tutorial, during which they participated senior at commencement. Established by his family, the award honors extraordinary service to under- in meetings and lectures at the European privileged youth in the Washington area. Parliament.
GEMA Hosts Inaugural Career Spotlight
he Georgetown Entertainment and ness development for eLabs, Universal Media Alliance, founded by Richard Music Group’s digital music strategy and TL. Battista (B’86), executive vice pres- business development division; and Ami ident of Fox Networks Group, hosted its Vittori (B’95), vice president of development first Entertainment & Media Career Spot- and production at Josephson Entertainment. light on October 22. The Career Spotlight, Battista moderated the panel. Other pan- held in conjunction with Georgetown’s elists included Gordon M. Bobb (C’93), an MBNA Career Center, featured accom- associate with the entertainment law firm of plished GEMA alumni members in a panel Del, Shaw, Moonves, Tanaka & Finkelstein; discussion of the industry. McDonough Gerry Katzman (F’95), actor, stand-up School alumni on the panel included Jeffrey comedian, and corporate entertainer; Mal- Bronikowski (B’92), vice president of busi- colm Lee (C’92), writer and director; and Yvette Urbina (C’96), manager of current programming, Fox Broadcasting Company. Lars Tray A European Convention member signs the board The Entertainment & Media bearing the Convention logo, which was presented Career Spotlight will be held in to the European Parliament along with the first draft of the Constitution for Europe. the fall and spring on the Georgetown campus for under- graduate and graduate students as well as any interested alumni. For more information, visit the GEMA Web site at www.gema- hoyas.org. Lars Tray
Ami Vittori (B’95) and Jeffrey Bronikowski (B’92) at the GEMA
10 McDonough Business Career Spotlight. upfront Elaine Romanelli, who serves as faculty advisor to the GEA and is director of the Global Entrepreneurship Program at the McDonough School. “Such events deepen MBAs Host Fall Club Days students’ understanding of business practice, and perhaps even more important, reveal Marketing Day Draws Alumni the passions and problems that real entre- Panelists preneurs, managers, bankers, and venture capitalists bring to their work.” he Graduate Marketing Association hosted Marketing Day on September Beth Cole, president and CEO of the T12. MBA alumni returned to partici- Women’s Business Center, moderated the pated as speakers and panelists on topics such Women in Entrepreneurship Panel, which as market research, financial services market- included Marla Malcolm Beck, CEO ing, consumer marketing, and media and and founder, bluemercury; Joan Hisaoka, entertainment. Keynote speakers included president, Hisaoka PR; Judy Kirpich, CEO, Mark A. Jacobson, global brand advocacy Grafik; and Stephanie Sakoff, president manager at ExxonMobil Corporation, and R. and creative director, Lucky Chick. Muge Yuzuak, business manager for online Verne Harnish, founder and CEO of Gazelles, acquisitions and sales and portfolio manage- Jessica Botta Inc., moderated the panel on Building Entre- ment at CitiCards North America. The Graduate Marketing Association talks to prospective members at the MBA preneurial Businesses, which included Karen Scott S. Allison (MBA’02), assistant man- Welcome BBQ in August. Becker, founder and president of Becker ager in Pepsi-Cola Company’s Strategy and & Associates; John Heron, cofounder and Insights department, discussed “Pepsi Vanilla: CEO of Cricket Cola; and Jim Hunt, presi- Second Mover Advantage?” in a presentation Following the panels, Miller Brewing Com- dent of Cap Gemini Technologies. J. Timothy on market research. pany hosted a reception in the McDonough Clarke (MBA’00), cofounder and vice presi- Graduate Center. dent of marketing for Infinite Spirits, sat on Demetrios N. Diavatis (MBA’97), vice presi- the panel. dent of Institutional Sales at Friedman Billings “This year’s Marketing Day was a tremendous Ramsey; Rita R. Hanes (MBA’98), marketing success,” said Matt Parthasarthy, second-year Brewster M. Crosby (MBA’02), associate at manager for merchant acquisitions at Ameri- MBA student and GMA president. “We had New Vantage Group, spoke on the Raising can Express; Melissa L. Henson (MBA’02), three times the number of panelists that Capital panel, which was moderated by e-business management associate at Citi Cards we’ve had in past years, giving our students David Geliebter, managing partner at Carrot North America; and Laura A. L’Esperance access to business leaders across a wide spec- Capital LLC. Other panelists included Rob (MBA’01), marketing manager for American trum of industries. The number of alumni Cerbone, associate at Telecommunications International Group’s National Union; partici- panelists that participated is a tribute to Development Fund; Andrea Kaufman, pated in the Financial Services Panel. Georgetown’s reputation as a leading mar- partner at Novak Biddle; Kevin LeClaire, keting institution in the country,” he added. associate at SpaceVest; Laura Lukaczyk, Consumer Packaged Goods panelists included: founder and managing general partner, Susan R. “Sally” Burnett (MBA’00), Frap- MBAs Celebrate the Passion and Avansis Ventures; and Jagtar Narula, vice puccino and Starbucks Doubleshot brand Challenges of Entrepreneurship president of Core Capital Partners. The manager at Pepsi-Cola Company; Mark at GEA Conference panel ended with Ada S. Polla, second-year Drexelius, director of business information MBA student and copresident of the GEA, at Brown & Williamson Tobacco; William he Georgetown Entrepreneurs Associ- improvising an “elevator pitch” about her H. Heuer (MBA’98), coffee brand manager ation hosted its first Entrepreneurship new skincare venture, Alchimie Forever. at Procter & Gamble; and Mark O’Brien, TConference on September 26. The brand manager at Miller Brewing Company. conference featured more than 20 speakers ”We’ve received positive comments from both on three panels: Women in Entrepreneurship, students and panelists. It is our expectation Samantha Allen, director of marketing at Building Entrepreneurial Businesses, and that this event will serve to strengthen the Discovery Health Channel; Chad A. Hill Raising Capital. The conference was open to connection between the McDonough School (MBA’03), senior marketing manager at all McDonough School students as well as and the entrepreneurial community,” said America Online; Scott Hulse (MBA’02), students from American University’s Kogod GEA member Joshua M. Lerman. manager of new product development for School of Business and the University of Time Life U.S.; and Rachel Kaufman, director “The organizers did a superb job in attracting Maryland’s R.H. Smith School of Business. of media planning and marketing research at excellent panelists and moderators,” added XM Satellite Radio served on the Media & “The Entrepreneurship Conference is exactly Romanelli. “The students who attended were Entertainment Panel. the kind of thing we need to do more of truly impressive and asked great questions.” at Georgetown,” said Associate Professor
McDonough Business 11 MBAs and IEMBAs Explore Express Delivery Industry
he express delivery industry was the subject of the first MBA Integrative Tcourse, “Understanding International Business,” and the IEMBA Opening Resi- dency in August. Both programs featured live case competitions at the conclusion of an intense week of lectures, team-building exercises, corporate and analyst presenta- tions, and case preparation activities. The Integrative Experience and the Opening Residency introduce students to the case method, build appreciation for both quanti- tative and qualitative issues in business, and provide an overview of business concepts in a global context. Students were given extensive management Jessica Botta information and financial data on the major Jessica Botta Fedex Chairman and CEO Frederick W. Smith Bill Pekowitz, an analyst for Value Line, players in the overnight package delivery presented his perspective of the company and the presented his insights into the express delivery industry, which formed the basis for analyses express delivery industry at the MBA Integrative industry at the IEMBA Opening Residency. conducted by faculty during the week. The Experience. Opening Residency culminated in a case competition in which each team represented one of the major companies—UPS, Fedex, Airborne Express, and DHL—analyzing a strategic issue facing the industry and pre- senting their recommendations to a panel of judges. The MBA Integrative case competi- tion focused on one player in the industry, Fedex, with faculty and company executives presenting a current situation involving an international opportunity.
Faculty-student volleyball matches are a capstone experience at both the MBA Integrative and the IEMBA Opening Residency. The faculty team took the trophy for the first time at the MBA Integrative. Jessica Botta Incoming IEMBA students Todd R. Barnum of General Dynamics, Huong T. Pham of Rolls Royce, and Tyler M. Moynihan of America Online, Inc. at the Opening Residency.
12 McDonough Business inthe media highlights
employees in an article on the CORPORATE GOVERNANCE MBA MARKET VALUE increased use of temporary workers The Capital Markets Research in the down economy. Associate The McDonough School was fea- Center’s 15th Anniversary Confer- Professor Ronald C. Goodstein tured in a BusinessWeek cover story ence, “Improving Corporate Gover- was featured on WTOP Radio’s 10- (9/22), “What’s an MBA Really nance,” was cited in three Dow part series (May) on customer serv- Worth?” a survey of the full-time Jones Newswire reports (9/26) fea- ice called At Your Service. MBA Class of 1992 from Business- turing the comments of NASD Week’s Top 30 business schools. Chairman and CEO Richard CREDIT AND DEBT The survey revealed that George- Glauber, SEC Commissioner Harvey town MBA grads had the 12th The comments of Distinguished
Goldschmid, and Senate Banking highest average yearly salary and Lars Tray Teaching Professor Michael E. Committee Chairman Richard were second only to Harvard in aver- Democratic presidential candidate Staten and the publications of the A. Shelby on separating market age bonus and other compensation. John Edwards addresses Credit Research Center were fea- regulation from operations, new Georgetown MBAs. tured in articles in the Washington SEC rules for Wall Street analysts, DO NOT CALL Post (8/26), Bankrate.com (10/6), and the potential for special and the Portland Press Herald DRUG MANUFACTURING Senate hearings on the New York In anticipation of the Federal Trade (9/15) on the pros and cons of Commission’s national Do Not Call Stock Exchange. The pharmaceutical manufacturing America’s great credit binge, the Registry taking effect on October 1, research and benchmarking studies The comments of Goldman Sachs potential value and peril of rewards the comments of Associate Pro- being conducted by Assistant Managing Director Abby Joseph credit card programs, and college fessor Ronald C. Goodstein on Professor Jeffrey T. Macher and Cohen at the conference were also student credit card debt. the impact of the list were cited in a colleague at Washington Univer- featured in a special Wall Street reports from MSNBC (9/23), WMAL The Credit Research Center’s sity in St. Louis were the focus of Journal report (10/27) on corporate Radio AM 630 (9/25), and the San monograph, “Payday Advance reports in the Washington Drug governance. Jose Mercury News (9/25). Good- Credit In America: An Analysis Of Letter (9/29), Drug Industry Daily stein also appeared on a CNBC’s Adjunct Professor Marc B. Sher- Customer Demand,” was cited in (9/17), the Pharma Marketletter Business Center program (9/22) man served as a panelist on The coverage in the Associated Press (9/15), and the St. Louis Business discussing the effects of the Reg- Kojo Nnamdi Show (8/11) dis- (5/27), the Fort Worth Star-Telegram Journal (9/16) on the U.S. Food istry on the telemarketing industry. cussing the effects of Sarbanes- (5/20), and the Portland Business and Drug Administration’s Good Oxley on corporate governance, Tribune (10/3) on the proliferation Manufacturing Practices initiative. corporate operations and capital of payday lenders and their alleged INTELLECTUAL PROPERTY markets. Sherman was also quoted predatory lending practices. Visiting Associate Professor WORKPLACE SAFETY in an Associate Press article (6/18) Michael P. Ryan was tapped for on the impact of the accounting Dean and Executive Director of EXECUTIVE PAY his expertise in intellectual property scandal at Rite Aid. the Center for Business and for a CNBC Power Lunch report Associate Professor James J. Public Policy John W. Mayo was (9/8) and an article in Italy’s Corrier- Assistant Professor Edward Angel, Assistant Professor quoted in a Bloomberg article Economia (9/15) on the Recording Soule was quoted in a Washing- Edward Soule, and Professor (8/13) on General Motors’ reduc- Industry Association of America’s ton Post article (5/26) on the $500 Reena Aggarwal were quoted in tion of workplace injuries to the lawsuits against individuals that million penalty imposed on World- articles from Newsday (9/17), lowest of all automakers and in a illegally share music files. Ryan’s Com for corporate wrongdoing Reuters (9/12), and the Washing- Safety Director’s Report article first-year undergraduate orientation and on potential new powers for ton Post (10/3), respectively, about (June) about how better safety per- seminar, “Napster: Theft or Civil government prosecutors and regu- the controversy over former New formance can improve stock prices. Disobedience?”, was cited in a lators to go after the assets of cor- York Stock Exchange chairman porate criminals. Washington Post article (8/27) about Richard A. Grasso’s compensation MARKET MANIA the RIAA’s efforts to curb the digital package. AT WORK piracy rampant on college campuses. Associate Professor James J. Angel’s expertise on the function The comments of Professor BUSINESS OF CAMPAIGNING of the New York Stock Exchange Robert J. Bies were cited in a was cited in a number of articles U.S. Senator (N.C.) and Democratic Chicago Tribune article (5/21) on and reports from Bloomberg presidential contender John Edwards’ turning around a no-win situation (10/16), public radio’s Marketplace speech to Georgetown MBA stu- at work. Assistant Professor (10/16), the National Post (10/15), dents was cited in articles in the Brooks C. Holtom was also Newsday (9/28), and PBS’ Nightly New York Times, the Charlotte quoted in the Chicago Tribune Business Report (9/22) on the role Observer, the News & Observer, (8/24) about the dynamics of man- of specialists firms, the business and USA Today (6/18). aging a workplace with both per- versus regulatory structure of the manent and contract or temporary Reena Aggarwal
McDonough Business 13 For a monthly archive of the McDonough School’s media coverage visit McDonough In the News alumni in the news on the News & Events section of the school Web site at John S. Orrico (B’82), a founder of the MBA degree in advancing msb.georgetown.edu/news/in_the_news.htm and portfolio manager of The Arbi- women into line jobs. Janin, who is trage Fund, was interviewed for a now president of Future Medical NYSE, the open outcry system, Newsday (10/5) article on the fund, Systems’ France operations, was AROUND THE GLOBE and whether or not the NYSE which focuses on mergers and quoted on the caliber of his fellow should go public. Associate Professor Michael R. acquisitions risk arbitrage. IEMBA classmates in an article on Czinkota published an editorial in MBA degree options. Two Wall Street Journal articles Yoko Minami (MBA’00), head of the Japan Times (10/13) on how (10/12, 10/27) on the speculative merger and acquisition deals at Jonathan Sharp (F’94), a member the education sector can play a fever hitting the stock markets NewsWatch Inc., a business news of the IEMBA Class of 2004, and major role in teaching how to and the record surge in trading of clipping service subsidiary of his cofounder, Landon Johnson, implement change around the OTC Bulletin Board shares featured Toshiba Corp., was featured in a were featured in a Washington globe. Czinkota also co-authored a Angel’s comments. Angel was also Nikkei Weekly (9/29) article on the Post (6/23) profile of their start-up Washington Times editorial (5/27) quoted in MSN Money/CNBC.com MBA degree’s impact on women’s business, Talant Ventures, which on the implications of U.S. export articles (8/20, 5/28) on insider career advancement in Japan, and sells software that helps sales control rules and the movement of trading and stock shorting. The the switch to promotions based on departments quantify the value of manufacturing offshore. Financial Times (9/7) quoted Angel merit instead of seniority benefits their product or service. Sharp and in an article examining the impact Executive Professorial Lecturer in that country. Johnson, who were formerly co- workers at Step 9 Software, of rival electronic communications Richard F. America’s article Antonio Peña’s (MBA’92) entre- founded Bethesda-based Talant networks on the Nasdaq, and the “Advancing Africa” was featured preneurial success was featured as Ventures in 2001. Chicago Tribune (9/9) and Baltimore in BizEd (May), the semi-annual part of a BusinessWeek (9/22) Sun (8/24) featured his comments publication of the Association to cover story on the value of an MBA Peter P. Gasca (MBA’03), now on the increasing popularity of Advance Collegiate Schools of degree, which was the result of a working for Pragma Corporation in exchange-traded funds. Business. America argues that survey of nearly 1,500 Class of 1992 Almaty, Kazakhstan as a member modern management education is John J. Powers, Jr. Professor of alumni from the magazine’s top 30 of the MBA Enterprise Corps, was the key to unlocking Africa’s rich Finance William G. Droms was business schools. Peña started a featured on the NBC (6/1) program economic and academic potential. quoted in CFA Magazine (Sept./Oct.) construction company out of the Hispanics Today about his experi- on the efficiency of modern client Heisley Family Professor of trunk of his car and now owns one ence in the Georgetown MBA pro- portfolios and advisor-client relation- Global Manufacturing Kasra of Mexico’s largest honeycomb gram as the recipient of a Hispanic ships in an article on behavioral Ferdows was quoted in an article packing-materials makers, Hexa- Scholarship Fund. gonos Mexicanos, S.A.de C.V. considerations in risk analysis, and in The Irish Times’ Top 1000 Com- Michele Giddens (MBA’91), was also featured in a Baltimore panies supplement (5/23) on what Colleen M. Arons (C’97, MBA’03) executive director of Bridges Com- Sun report (8/17) on bonds, bond Ireland must do to adapt to a and Patrick Janin (IEMBA’02) munity Ventures, which aims to funds, and the bond market. changing environment of foreign were featured in separate articles produce entrepreneurs and sustain- direct investment. Elsa Carlson McDonough as part of the Wall Street Journal/ able businesses to tackle social dis- Professor of Business Adminis- CareerJournal.com (9/17) special empowerment and decay in Britain, tration Prem C. Jain’s research report on the top business schools. was the subject of a Guardian on the value of stock market Arons, now an advanced market- (5/27) article on the community experts was cited in a Washington ing analyst in 3M’s corporate mar- ventures sector. See Giddens’ alumni keting development program, was profile on page 36. Post article (7/6) on the perform- Making Headlines ance of professionally managed featured in an article on the value and advertised funds. Sally Buzbee (IEMBA’97) is back. She’s back in Washington, D.C., Professor Reena Aggarwal was as the newly appointed assistant chief for news at the Associated Press‚ Washington bureau. She’s also quoted in an Associated Press back in the United States after several years abroad in far-flung places like Saudi Arabia and Tunisia, article (6/12) on “demutalization,” where she lived with her two daughters and her husband, who is a former journalist turned diplomat or the switching of exchanges for the U.S. State Department. from mutual organizations to stock corporations. As the assistant bureau chief for news in Washington, Buzbee oversees news reporting on the State Department, Congress, and the White House. Her MBA from the McDonough School and her interna- tional experiences both living and studying abroad are strong influences on her work as a news editor.
“The world is so interconnected, and I wanted to focus on that,” said Buzbee.“ My MBA education at Georgetown provided a new framework to understand the world, and I am tuned in to different sides of stories that I might not have been before.”
Since coming to Washington, D.C., for the first time in 1995, the Walla Walla, Wash., native has been a reporter, news editor, and world services supervisor in the Associated Press‚ Washington bureau. She also worked in AP bureaus in Topeka, Kansas City, Los Angeles, and San Diego.
14 McDonough Business intellectualcapital
Professor Reena Aggarwal published “Alloca- Marketing Managers” at the Marketing and Pub- co-authored “Accrued Earnings and Growth: tion of Initial Public Offerings and Flipping Activity,” lic Policy Conference in May, and presented his Implications for Future Earnings Performance and Journal of Financial Economics, Vol. 68, Iss. 1, analysis and evaluation of Verner Petersen’s book, Market Mispricing,” with J. Whisenant, in the April 2003. She also served as a discussant on Beyond Rules in Society and Business, at the Accounting Review, Vol. 78, Iss. 1, January 2003. IPOs at the Western Finance Association Annual Association of Practical and Professional Ethics in Heisley Family Professor of Global Manufac- Meeting in June. February. He made a panel presentation on “Mar- turing Kasra Ferdows published “New World keting and the Ethical Environment of Business” Associate Professor Paul Almeida published Manufacturing Order,” in Industrial Engineer, at the American Marketing Association Educator’s “Learning-By-Hiring: When Is Mobility More Vol. 35, Iss. 2, February 2003. Conference in February. Brenkert also delivered a Likely to Facilitate Interfirm Knowledge Trans- speech at Marymount University on “Business Professor Robert M. Grant published “Strategic fer?” Management Science, Vol. 49, Iss.4, April Ethics and Business Scandals” in January. Planning in a Turbulent Environment: Evidence 2003; and “Overcoming Local Search through from the Oil Majors,” in Strategic Management Alliances and Mobility,” Management Science, Assistant Professor Sandeep Dahiya published Journal, Vol. 24, No. 6, June 2003. He received Vol. 49, Iss. 6, June 2003. “Financial Distress and Bank Lending Relation- funding from Eni Corporate University to study ships,” Journal of Finance, Vol. 58, Iss. 1, Janu- Professor Alan R. Andreasen authored “Social knowledge management in the energy sector. ary 2003; and “Debtor-in-possession financing Marketing and Consumer Research,” with J. Principal investigators are Grant and Associate and bankruptcy Resolution: Empirical Evidence,” Cohen and B. Kahn, published in the Associa- Professor Paul Almeida. The project provided Journal of Financial Economics, Vol. 69, Iss. 1, tion for Consumer Research News, Spring 2003. summer internships to eight MBA students. Grant July 2003. Andreasen presented “Social Marketing and also received a grant from the British Economic Association Development” at the Washington Associate Professor Allan C. Eberhart pub- and Social Research Council to study knowledge Higher Education Secretariat in September, and lished “The Long-Term Performance of Corpo- integration and project-based organizing. Principal “Selling Marketing Internally—Building Consen- rate Bonds (and Stocks) Following Seasoned investigators are Charles Baden-Fuller and Joseph sus” at the American Marketing Association Equity Offerings,” Review of Financial Studies, Lampel (both of City University) and Grant. Nonprofit Marketing Conference in July. He Vol. 15, Winter 2002. Eberhart presented “An Assistant Professor Jeffrey T. Macher will delivered a luncheon address at the American Examination of Long-term Abnormal Stock perform research and analysis for the U.S. Food Legacy Foundation in June, and chaired “Vulner- Returns and Operating Performance Following and Drug Administration as part of its strategic able Consumers,” a competitive paper session at R&D Increases” at the European Financial Man- initiative to modernize the regulation of pharma- the American Marketing Association’s Marketing agement Association Meeting in June. ceutical manufacturing and product quality. and Public Policy Conference, in May. Andreasen Professor Ricardo Ernst served as the guest Macher, and Associate Professor J. Nickerson of also gave talks at the London Business School editor of Forced Migration Review, September Washington University in St. Louis’ Olin School and the University of the West of England in May. 2003. His article, “The Academic Side of Com- of Business, will help the FDA improve the effi- Professor Robert J. Bies published “Consumer mercial Logistics and the Importance of This ciency of its inspections by developing a model Privacy: Balancing Economic and Justice Consid- Issue,” was an introductory article in the issue. He for predicting which types of manufacturing erations,” with M. Culnan, Journal of Social delivered an invited presentation, “3PL Integration firms have a greater probability of violating good Issues, Vol. 59, Iss. 2, 2003. He presented “The in Latin America: A Case Study,” at Washington manufacturing practices. Their research is funded Question of Injustice: Why Do Good People Do University’s Olin School of Business in August. by the McDonough School of Business Center Bad Things?” at the Academy of Management Ernst participated in a seminar on logistics issues for Business and Public Policy; the Boeing Center in August. at the Universidad de los Andes in June. He served for Technology, Information, and Manufacturing; as the co-chair for “International Congress on the Center for Research in Economics and Strat- Professor George G. Brenkert gave the e-Commerce and Logistics,” in conjunction with egy in the Olin School; and the National Bureau keynote address on “Corporate Integrity and the Latin American Logistics Center and EAN of Economic Research/Sloan Foundation. Accountability: A Transatlantic Perspective”at the Costa Rica in May. At the First Council of Human- European Business Ethics Network annual meet- Professor Douglas M. McCabe conducted the itarian Logistics in January, Ernst presented papers ings in August. He presented a paper at a panel seminar titled “Mastering Employee Relations” on the importance of performance metrics in logis- discussion on “Developing Moral Imagination in for the Senior Executive Leadership Program for tics as they apply to the humanitarian world and the staffers of the U.S. Senate. He also taught on the role of education, training, and certification “Organizational Development” in the Ph.D. Pro- to standardize procedures and elevate the profile gram of ESTE — School of Economic and Busi- of logisticians in the field. Kudos ness Science of the University of Duesto in San In the most recent editor’s report Associate Professor Patricia M. Fairfield and Sebastian, Spain. McCabe was recognized by the Associate Professor Teri L. Yohn co-authored National Office of The Phi Beta Kappa Society for from the Journal of Finance, “The Differential Persistence of Accruals and his service as Chair of the Triennial Council Finance Georgetown is sixth after Harvard, Cash Flows for Future Operating Income Versus Committee. MIT, UCLA, Chicago and Northwestern Future Return on Assets,” with J. Whisenant, in for publishing the most articles in the the Review of Accounting Studies, Vol. 8, Iss. Journal of Finance in 2002, tied with 2–3, June–Sept. 2003. Fairfield and Yohn also Cornell and Stanford.
McDonough Business 15 Assistant Professor Adjunct Professor Marc B. Sherman Marlene D. Morris presented “Sarbanes-Oxley:Restoring Investor presented “Learning Confidence Through Ethics,” at the National Bar from the School of Association’s 78th annual convention in August. Hard Knocks: Ante- Associate Professor Edward Soule wrote cedents of Consumer Morality & Markets: The Ethics of Government Financial Knowledge,” Regulation, published by Row- at the American Mar- man & Littlefield Publishers, Inc., keting Association’s Marketing and Public Policy 2003. The book proposes a set Conference in May. of rules for determining the Assistant Professor Robin L. Dillon-Merrill Professor Stanley D. Nollen delivered an moral legitimacy of regulation invited presentation at the Sixth Carnegie Bosch and examines the morality of Institute International Conference in October. regulation in contemporary Business School Professor Nollen received a grant to support research on the commercial disputes. Named to National Academies Indian software industry, and he is also collaborat- Distinguished Teaching Professor Michael E. Committee ing with the International Finance Corporation of Staten published “The Impact of Opt-In Rules the World Bank on a study to compare Indian and Assistant Professor Robin L. Dillon- on Retail Credit Markets: A Case Study of Chinese software and hardware industry growth. MBNA,” with F. Cate, in the Duke Law Journal, Merrill was nominated to serve on Professor J. Keith Ord presented “The Estima- Vol. 52, No. 4, 2003; and “The Value of Com- the National Academies Committee tion of Recent Intervention Effects in Transporta- prehensive Credit Reports: Lessons from the U.S. on Opportunities for Accelerating tion Indicators” and “The Single Source of Error Experience,” with J. Barron, in Credit Reporting Characterization and Treatment of Specification for State Space Models: An Systems and the International Economy, 2003. Appraisal,” at the International Symposium on Staten’s book, Financial Privacy, Consumer Pros- Waste at Department of Energy Forecasting in June. perity and the Public Good, coauthored with F. Nuclear Weapons Sites. The National Cate, R. Litan, and P. Wallison, was published by Assistant Professor Lee Academies advise the U.S. Govern- the Brookings Institution Press, 2003. This book F. Pinkowitz and Associ- explores the debate over states’ roles in regulat- ment on scientific and technical mat- ate Professor Rohan G. ing credit bureaus. Staten delivered “Debt Bur- ters in public policy. Williamson coauthored den, Delinquencies and the Quality of Consumer “Corporate Governance Credit,” at the Consumer Balance Sheet Round- The project committee, whose 11 and the Home Bias,” with table, Federal Deposit Insurance Corporation in members are primarily nuclear, chemi- M. Dahlquist and R. Stulz, February. He presented “Empirical Analysis and in the Journal of Financial cal and civil engineers and geologists, Public Policy Toward Subprime Lending,” at the and Quantitative Analysis, will identify opportunities for improv- Pinkowitz Federal Reserve Board Consumer Advisory Coun- Vol. 38, No. 1, March 2003. cil in March. He gave testimony on “The Impact ing the U.S. Department of Energy Professor N. Lamar Reinsch, Jr. presented of National Credit Reporting Under the Fair Environmental Management Office’s “Safety is Never an Accident,” at the Christian Credit Reporting Act,” at the U.S. House of Repre- waste characterization and treatment Scholars Conference, in Lubbock, Tex., in July. sentatives, Committee on Financial Services, Sub- His speech was published in Vital Speeches of committee on Financial Institutions and Consumer capabilities. the Day, Vol. 69, Iss. 22. Credit Hearing, on “The Importance of the Dillon-Merrill will provide expertise in National Credit Reporting System to Consumers Associate Professor Pietra Rivoli published and the U.S. Economy” in May. Staten also pre- project management and risk analy- “Labor Standards in the Global Economy: Issues sented “Case Studies Reveal the Benefits of Infor- sis. Their study will focus on waste for Investors,” in the Journal of Business Ethics, mation Flows,” at the Federal Trade Commission Vol. 43, Iss. 3, March 2003. streams for which current characteri- Workshop on Information Flows in June. zation, treatment, or disposition Associate Professor Elaine Romanelli was Professor Robert J. Thomas was appointed reappointed to the editorial board of Administra- pathways are difficult and/or expen- interim dean of the School for Summer and tive Science Quarterly. She presented “Anatomy sive, and for which improvements Continuing Education. He will continue to serve of Cluster Development: The Case of U.S. Bio- as executive director of the Center for Profes- would help reduce costs, schedules, therapeutics, 1976–2002,” at Northwestern’s sional Development and professor of marketing Kellogg School of Management (February), Har- and hazards to workers, the public, or in the McDonough School of Business. vard Business School (April), and the Swedish the environment. The project began Government Council’s Cluster Development Pro- Associate Professor Catherine H. Tinsley in October, and the committee will ject (June). authored “Responses to a Normative Conflict issue its final report in summer 2005. among American and Chinese Managers,” (with E. Weldon), in the International Journal of Cross-Cultural Management, Vol. 3, Iss. 2.
16 McDonough Business Faculty in Focus Rohan G. Williamson
When Associate Professor Rohan Financial Research, and Ohio State Univer- Williamson was a kid, he loved cars and air- sity’s Rene M. Stulz, which was published in planes. He majored in mechanical engineer- the Journal of Financial and Quantitative ing at the University of Dayton and planned Analysis and which he presented at the to get a job designing airplanes or cars. He American Finance Association meetings this started as an aircraft engineer at Lockheed year. This research was cited in a March Corporation, but after working for a few 2003 speech by Alan Greenspan at the Bank years he realized that he would never be the of France International Symposium on person that would design the whole airplane. Monetary Policy, Economic Cycle, and He’d always just design one part of it. His Financial Dynamics. desire for the bigger picture sent him back His work has also appeared in the Jour- to school, this time for his MBA at Clark- nal of Financial Economics, Risk Publications, “My approach to teaching is to Atlanta University, where he was inducted the Journal of Applied Corporate Finance, and into Beta Gamma Sigma, the national busi- help students build their intuition. the Review of Financial Studies. “The Deter- ness honor society. It was there that he culti- The ones that advance are minants and Implications of Corporate Cash Holdings,” a work he co-authored with Tim vated his interest in finance. the ones that can answer and “I took a finance class as an undergrad, Opler, Pinkowitz, and Stulz, was the winner and I enjoyed it, but I didn’t think too much address questions on their feet of the 1999 Jensen Prize for Corporate about it. It was doing my MBA that I started in a concise way.” Finance and Organizations. to get more and more interested in finance,” Georgetown is a good fit for says Williamson. “I started to see that the Williamson, who teaches Advanced Corpo- things I liked about engineering are very con- or ‘What makes this happen?’” The bigger pic- rate Finance and International Finance in sistent with the things I liked about finance.” ture was calling him once again. the MBA program and International After earning his MBA, he started He decided that the Ph.D. was the best Finance in the undergraduate program. He work as a financial analyst at the Chrysler fit to address his need to figure out those has also taught executive education courses Corporation. “I got my dream,” he says. “I whys. He earned his M.A. and Ph.D. in on International Corporate Finance and had designed airplanes for Lockheed and finance at the Ohio State University, where Managing Foreign Exchange Risk. now I was working in the car business.” his dissertation research focused on foreign “I wanted to work in a school with a Williamson had several different finance exchange rate exposure and its impact on strong reputation that supported research jobs at Chrysler that exposed him to the firm value. At Ohio State, Williamson was a and also had a strong foundation in teaching,” long-range budgeting and analysis process as Dean’s Fellow and a General Electric Fac- says Williamson. “Georgetown fit right in.” well as an equity offering through Chrysler ulty Development Fellow. He was also the The international nature of his research Financial that allowed him to interact with recipient of the Ohio State University Pace mirrors the international culture at George- investment banks and consultants. Setters Award. town and in the McDonough School. His experience at Chrysler gave him a He still does work in the area of foreign “Georgetown attracts international students good perspective on the jobs that his MBA exchange rate exposure and also links it to and U.S. students that want to do interna- students will have after they graduate; a per- his other interests in risk management, cash tional work,” he says. “It’s important for spective that informs his teaching. “I know holdings, and corporate governance. “When them to realize that what happens [in the what a consultant does, what an investment exchange rates change, firm value changes. U.S.] is not typical. It’s very different when banker does, what a financial analyst at a But firm value is not assessed in the same you look across the globe.” corporation does,” he says. “It helps me pre- way outside the U.S. because the relationships Williamson hopes that his students come pare them to face the challenges of those between stockholders, bondholders, and cor- away from his classes with at least one thing - jobs.” Students appreciate that he can bring porate management vary across countries,” a strong intuition. “Georgetown students are anecdotes from his industry experience and says Williamson. “Corporate governance is very bright, it’s just a matter of pushing them relate them to the cases discussed in class. how you manage the conflict between those to reach their full potential,” he says. “My As he advanced in his own career, how- constituents.” approach to teaching is to help students build ever, he wanted to investigate the hows and His research has resulted in a number their intuition. The ones that advance are the whys of finance in companies and industries. of papers including “Corporate Governance ones that can answer and address questions on “You work for a company, doing project after and the Home Bias,” co-authored with their feet in a concise way.” project and not really doing the whys,” explains Assistant Professor Lee F. Pinkowitz, Mag- Williamson. “Not asking ‘how does this work?’ nus Dahlquist, Stockholm Institute of
McDonough Business 17 Prospectus Sarbanes-Oxley: A Push Toward Better Corporate Governance
By Marc B. Sherman he pressures of earnings issuer’s accounting practices; for engaging ing of any security of an issuer that is not expectations, compensation, advisors; and for funding the independent in compliance with the Act’s audit com- job security, and greed investigations. mittee requirements. Additionally, the resulted in a number of To emphasize management’s responsi- SEC now has the authority to seek court widely publicized corporate bility for accounting and disclosures, Sar- freezes of extraordinary payments to Tearnings restatements and outright banes-Oxley requires the CEO and CFO directors, offices, and others during an accounting frauds in 2001 and 2002. The to certify that the financial statements and investigation of securities violations, and it largest restatement of all was by telecom- disclosures contained in any filed periodic has the authority to prohibit officers and munications giant WorldCom, which report are appropriate and fairly present, directors who have violated certain securi- reportedly classified $9 billion in expenses in all material respects, the operations and ties laws from serving as an officer or as capital. The collapse of Enron and C- financial condition of the company. The director of a public company. Act recognizes that C-level executives are level scandals at Adelphia Communica- Looking Ahead tions and Tyco International cost investors not likely to have intimate knowledge of billions of dollars, further shook investor the details and accordingly requires a vio- Sarbanes-Oxley will force each member of confidence and fueled the drive for reform. lation of this provision to be knowing and the “the public company,” individually and As a result, the Sarbanes-Oxley Act of intentional in order to give rise to liability. together, to achieve new levels of disclosure, 2002 has brought about the greatest focus Nonetheless, management is responsible accountability, independence, and trans- on financial restatements and reporting for the accuracy of financial statements parency. Only time will tell if Sarbanes- fraud in recent U.S. history, initiating and disclosures, and the board is responsi- Oxley, now more than a year old, will be sweeping changes in corporate and financial ble to independently oversee those state- successful in driving companies to instill reporting oversight as well as a renewed ments and disclosures. and deliver on an ethical “tone-at-the-top.” focus on the importance and quality of gov- To give teeth to these “rules of the We can hope that the costs, both corporate ernance and ethics in business. The message road,” Sarbanes-Oxley establishes criminal and personal, of failing to enhance ethical of Sarbanes-Oxley is unequivocal: we need offenses for “knowingly” destroying or cre- standing will prove a powerful incentive increased transparency and reliability of ating documents to impede, obstruct, or for change. A reemphasis on corporate financial reporting, better control, and more influence any existing or contemplated governance and ethics can only lead to effective independent governance in publicly federal investigation. The Act also extends stronger companies, better-informed traded corporate America. To accomplish the statute of limitations on securities investors, and a more vibrant economy. Of this goal, however, management and the fraud claims and implements fines and course, perhaps the ultimate test is simply board must each take responsibility and imprisonment of up to 25 years. A willful long-term investor reaction — or do do their part. and knowingly false CEO or CFO certifi- investors in reality have short memories? cation can carry a monetary penalty as Provisions of Sarbanes-Oxley well as possible imprisonment. Addition- About the author: Sarbanes-Oxley seeks to address important, ally, the CEO and CFO of a public com- Marc B. Sherman but often lacking, independent oversight pany are required to forfeit to the is an Adjunct Professor in the McDonough of management’s financial reporting by company certain bonuses and other incen- School,where he teaches public company boards of directors. In tive and equity-based compensation forensic accounting in received after the filing of a financial order to separate management’s account- the full-time MBA ing and operating decisions from board report that later requires restatement due program. He is a CPA oversight, Sarbanes-Oxley establishes spe- to material noncompliance as a result of and attorney and cific requirements for an audit committee misconduct. In an encouraging message to the Managing Director in charge of the of the board comprising only independent lower-level employees, Sarbanes-Oxley Washington, D.C. office of Huron Consulting (non-insider executive) directors. It is then provides whistleblower protection to Group. He was formerly a partner at KPMG empowered with the sole responsibility for employees of issuers and accounting firms. LLP,where he led the forensic practice. John the appointment, compensation, and over- Corporate governance is taken seri- Ries (MBA’02), a senior associate at KPMG, sight of the auditor; for establishing proce- ously by Sarbanes-Oxley. As directed by contributed to the writing and editing of dures to handle complaints regarding the the Act, the SEC now prohibits the list- this article.
18 McDonough Business BEYOND
thics has played a central role at the McDonough School since its founding, and that has taken on special significance in the wake of the recent flood of corporate scandals. “The last few years have seen just THE horrible lapsesE of ethics across corporate America, and ethics has become a much more timely topic as a result,” said John B. Maier II (MBA’86), a founding partner of the Legacy Partners Group, a middle-mar- ket financial advisory firm in New York. Businesses now are paying more atten- tion to ethics when they evaluate job candidates, according to Maier, who held executive positions in several large financial services firms before helping to establish BOTTOM Legacy. Corporate recruiters today “want to know that students have had to give thought to some of the ethical issues that arise every day in the business world,” Maier said. That’s good for McDonough School graduates, he added, because “at Georgetown it’s always been part of the curriculum and knowing that it’s part of the curriculum is an important considera- LINE tion for recruiters generally.” Business students confront the ethics Teaching issues throughout their time at the McDonough School. Courses devoted to ethics are taught in all of the school’s degree-granting programs. Ethics is Business Ethics addressed in many other business school courses, and is infused throughout the broader Georgetown University experience. at the “It’s almost like breathing,” second- year MBA student Brent E. McGoldrick said. “You’re not necessarily aware all the McDonough School time that it’s there. But it’s there.”
By Tom Price
McDonough Business 19 he recent scandals responsibility. The haven’t changed the way ethics is taught MBA Student in the business school, McDonough Association this Dean John W. Mayo said. year adopted a “The teaching of business ethics has code of conduct been part Tof our curriculum since the that was ratified inception of the school in the 1950s, and by 73 percent of really represents a continuation of the cen- the MBA student tral role of ethical principles in the educa- body. McDonough tion of every student who attends supports the Georgetown University,” Mayo said. Georgetown Busi- As new programs have been added, ness Ethics Insti- Lars Tray Professor Douglas M. McCabe said, ethics tute, which fosters Second-year MBA student Rebecca J. Slisz is president of Georgetown’s always has been part of the planning. creation and dis- chapter of Net Impact. “We felt that, not only should we have semination of a free-standing course on ethics for the knowledge about business ethics. Professor to be fair and honest with everyone, but undergraduate and the MBA programs, George G. Brenkert, the center’s director, what does that actually mean in terms of a but when we established the International edits Business Ethics Quarterly, the journal specific situation?” Executive MBA program we felt it should of the Society for Business Ethics. Schroer remembers McCabe weaving have a course,” McCabe said. “More McCabe is the Journal of Business Ethics’ ethics into a labor relations course, and important, each professor ought to weave associate editor for international manage- McCabe said Schroer has remembered the into his courses the key ethical issues ment. Other professors research and write lesson well. impacting upon that subject matter.” on the topic. And many faculty and stu- “What a good professor can do,” According to Mayo the recent scandals dents are active in the promotion of ethi- McCabe said, “is provide an intellectual have “helped us, in a curious way, to focus cal and humanitarian causes. framework, or frameworks, to help stu- the attention of students on the very real “I view business ethics as a very broad dents solve potential real-life ethical situa- ethical challenges that they are likely to topic, as more than one class,” Brenkert tions that may slap them in the face.” face as they enter the work force. I think said. “Business ethics issues involve ques- The role of the business ethics teacher both recruiters and students seem to have tions of poverty and justice as well.” is not “coming in as bearer of the truth,” ethical considerations at the forefront of When he lists McDonough’s business Brenkert said. “I come in with some back- the human characteristics that they care ethics courses, therefore, he includes ground in ethics and knowledge of relevant about now.” Strategies for Environmental Manage- cases that are important for the students to Undergraduate business students are ment, Social Enterprise, Community consider. More important than ‘the right required to take Social Responsibilities of Reinvestment, Development in Africa, answer’ is identifying the important ethical Business as well as a philosophy course in and Humanitarian Assistance. aspects and dimensions.” ethics. Business Ethics is part of the MBA In addition to being a broad topic, McDonough’s core ethics courses are core curriculum and the International ethics — and the teaching of it — is com- firmly grounded in the reality that stu- Executive MBA program. plex, Brenkert said. That’s a point that dents will face once they become business Undergraduates also can take a course James A. Schroer (C’72, MBA’84) executives. in International Business Ethics. Other absorbed at Georgetown two decades ago. One section of the undergraduate MBA courses include: Ethics in Employ- “The biggest thing I remember, even course, for example, required students to ment Relationships, Current Issues in to this day, is that you have to take your grapple with the issue of sweatshops as a Corporate Social Responsibility, Business general guiding principle and dissect it way of exploring many aspects of business Ethics, Public Policy and Socially Respon- until you can apply that principle to the and social responsibility. Readings ranged sible Investing. specific incident that you’re dealing with,” from “The Nature of Morality” to selec- Outside the formal classroom, Net said Schroer, a management consultant tions from Nike’s Code of Conduct. A Impact, an association of graduate stu- with Deloitte & Touche in Northern Vir- Nike executive visited the class. dents and alumni, promotes business ginia. “You might have a general principle “Georgetown is a place where [students] can become engaged in both business and social issues.”
20 McDonough Business “More important than ‘the right answer’ is identifying the important ethical aspects and dimensions.”
he case-based MBA course Ries, a marketing associate with Kim- addresses blockbuster incidents such as berly Clark in Wisconsin, said McDo- Ford’s exploding Pintos as well as other nough’s international focus made ethics dilemmas in which an individual con- discussions particularly important and fronts an ethical conundrum within a interesting. small part of an organization. “What might be considered ethical or “What I hope students come away unethical in various countries isn’t always with is a sense of the relevance and the same,” Ries explained. “If I’m doing importance of the ethical business deci- business in another country, I need to sion — thatT ethics is not something for- understand their ethical framework. I Jon Golden eign to business, that it is integral to need to keep true to my own ethics in “A lot of students from nonprofit back- business, and they must engage,” business, at the same time respecting the grounds or some other nontraditional Brenkert, who teaches both courses, ethical practices that are the norm of background come here, because they think explained. “Next, I want to provide some another country’s culture. Georgetown is a place where they can tools or frameworks that they can take “It’s good to have thought and talked become engaged in both business and away from the class and use to think about ethics [in class], rather than to have social issues,” she said. “That was a reason about their own ethical situations when to deal with it for the first time when you I came to Georgetown.” they get into them.” find yourself in an ethically challenging Net Impact’s first annual convention That’s exactly what Schroer took away situation.” was held at Georgetown in 1993, and in 1984, and more recent graduates and “In general, there are a lot of allusions Georgetown’s was one of the founding students echo his comments. made to ethics in accounting courses, chapters of the organization, which ini- Ethics poses “an interesting dilemma finance courses, marketing courses — to tially was called Students for Socially in the business world in which the the fact that there are practices that, while Responsible Business. The group cele- primary goal, most people would say, legal, maybe are not ethical, and you want brated its 10th anniversary conference at is maximizing profit or value for to think twice about them,” McGoldrick Georgetown in 2002. shareholders,” Todd G. Ries (MBA’03) said. “The last question you ask yourself A key ethics message at McDonough said. “But most people would also ask: when making a decision is if there is an is that “there are issues above and beyond Based on what practices?” ethical dimension. What do we owe to the the bottom line,” McCabe said. Students community, employees, customers — and also learn that ethical misconduct can be do any of the deci- bad for business, as the recent scandals sions we’re making have demonstrated, he added. bump up against Both points motivated creation of the any of these MBA student conduct code, which responsibilities?” McGoldrick, the MBA student association Second-year president, described as “standards of profes- MBA student sional behavior.” The standards range from Rebecca J. Slisz, the necessity for honesty to the advisability president of the of dressing well for job interviews. Georgetown Net “We’re trying to hold students account- Impact chapter, able for their behavior in how they deal said the university with recruiters, because these things do attracts business affect our reputation over the longer term students who care with these companies,” McGoldrick said. about social “If Georgetown is going to hang its responsibility, and hat in part on ethics, then we have to do that helps to everything we can as students to make infuse ethics sure we not only live up to that standard Lars Tray throughout the but we are above the standard that other Professor George G. Brenkert is director of the Georgetown Business Ethics Institute and editor of Business Ethics Quarterly, the journal of the Society program. schools set.” for Business Ethics.
McDonough Business 21 capital markets research center celebrates 1155years The gathering of such financial star power was impressive — but hardly surprising. The center rou- By Tom Price tinely brings together the best minds in business, government and academia to grapple with cutting-edge issues that confront the financial industry. In the process, it also enriches the education of McDonough uite a few familiar financial faces School students and helps faculty develop and enhance showed up for the Capital Markets Research Center’s relationships with top practitioners in their fields. 15th birthday bash in September. Eric L. Schwartz (B’01), manager of information QQThe guest list, in alphabetical order, included former technology at Promontory Interfinancial Network in United States Comptroller General Charles A. Bowsher, Northern Virginia, is a good example. Goldman Sachs Managing Director Abby Joseph Cohen, Schwartz became involved with the center during his National Association of Securities Dealers Chairman first year and continued and CEO Robert R. Glauber, Securities and Exchange throughout his time on cam- Commissioner Harvey J. Goldschmid, Nasdaq Stock pus, helping with the center’s Market Vice President and General Counsel Edward S. programs and doing research Knight, Public Company Accounting Oversight Board for the center’s director, David Member Charles Niemeier, former Internal Revenue A. Walker, who is the John A. Service Commissioner Charles O. Rossotti, and Senate Largay Professor of Finance at Banking Committee Chairman Richard C. Shelby. the McDonough School. And that’s just those who led the sessions at the Noting that the center’s two-day conference on “Improving Corporate Gover- programs attract leaders from nance” that marked the center’s 15 years of fostering around the world, Schwartz and disseminating knowledge about public policy and told how he was able to “sit financial issues at the Robert Emmett McDonough down on a plane or a bus or at School of Business. a lunch table and pick the David A. Walker brains of folks who have incredible knowledge and are actually developing the capital markets in their countries. I had breakfast with the chairman of the Russian Stock Exchange and din- ner with the top lawyer at the SEC well before my 21st birthday.” When Schwartz had trouble finding a summer internship because he couldn’t return from his junior year in Spain until late June, Walker helped him land a position at Nextel through his former research assistant, Michael B. Bryan (MBA’91), who is now Nextel’s direc- tor of data warehousing. After Schwartz graduated, Walker introduced him to Eugene A. Ludwig, chairman and chief executive officer of Promontory, where Schwartz now works. “The center really merges academics and practical business and allows students to get exposure to that,” Schwartz said. “It allows practitioners to get a sense of what’s going on in research, what students really are inter- The Honorable Charles O. Rossotti, senior advisor to the Carlyle Group and former commissioner of the IRS, was the Executive ested in when it comes to recruiting, and it allows them to Policy Seminar speaker during the 15th anniversary conference. sort of get first dibs on students who are graduating.”
22 McDonough Business Ludwig, former and companies from other areas of the comptroller of the financial services industry began to con- currency and for- tribute as well. PricewaterhouseCoopers mer vice chairman remains a sponsor today, as are Deloitte & of Deutsche Bank, Touche and the Nasdaq Stock Market described the cen- Educational Foundation. The center also
Goldman, Sachs & Co. Managing Director Abby Joseph Cohen, Nasdaq Executive ter as “enormously has 10 associate sponsors. Vice President and General Counsel Edward S. Knight, and NASD Chairman and important for The center’s first event, in January CEO Robert R. Glauber served on the conference’s finance panel. American finance, 1989, set the stage for what was to follow. because serious It was an Executive Policy Seminar at the Recruiting is, indeed, one of the scholarship in this area makes an enor- George Town Club on Wisconsin Avenue benefits that business executives say mous difference to the actual functioning organized by the late Daniel J. Piliero they derive from participating in the of the markets.” with U.S. Rep. Jerry Lewis of California center’s programs. The center’s programs stimulate as the speaker. “Several years ago, prior to my involve- “debate at a high level that is not other- There have been about 50 of the semi- ment with the center, we had zero wise available from an academic institu- nars since, most at the George Town Georgetown graduates,” said James tion in the Washington area and is as Club, and some at Manhattan’s Midtown Dalkin, senior manager of assurance and good as, if not better than, that kind of Executive and Chemists Club. They fea- advisory services for Deloitte & Touche in activity that would exist in any business ture remarks by a leader in business, gov- Northern Virginia. “This past summer, we school or school of economics around the ernment, education, politics or had seven interns. United States,” Ludwig said. international organizations, followed by “From our perspective, we’ve found the Because federal policy-makers fre- dinner and discussion. Participants include Georgetown students we meet through quently attend the programs, he added, corporate executives, public officials and the capital markets group are really more the center “has to add to the richness of McDonough School faculty and students. well balanced in terms of their general what goes on in government.” The roster of speakers is a roll call of the business knowledge. It’s not just accounting, When he was comptroller of the cur- top positions in domestic and interna- but they’re aware of the implications of rency, for example, Ludwig explained a tional finance: managing director of some of the accounting issues and trends.” new risk-based supervisory mechanism at Credit Suisse First Boston, managing Similarly, Ludwig said Schwartz would a center seminar. “The ability to present director of the World Bank, chairman of not have been prepared for the position that at Georgetown and discuss it with an the Federal Deposit Insurance Corpora- for which he was hired at Promontory had intelligent audience was a very big deal,” tion, comptroller of the currency, commis- it not been for the additional education he he said. sioner of the Internal Revenue Service, obtained through the center. For faculty, said William G. Droms, president of the New York Federal “He is very talented, and he benefited the John J. Powers, Jr. Professor of Reserve Bank and others. greatly from that experience at the center,” Finance, the center “enhances the research The center’s first conference, “Finan- Ludwig said. “We could not have hired environment” by both underwriting cial Distress and Bankruptcy,” chaired by him if he came out of a normal background. research and “getting faculty involved with McDonough School Associate Professor He would not have been as attractive a can- high-level practitioners.” didate without this program.” At the suggestion of then Dean Robert In addition to the recruiting advantage, Parker, the center was founded at the business executives and public officials say beginning of the 1988-89 academic year they benefit from the exchanges that occur (initially as the Center for Business-Gov- during the center’s conferences and semi- ernment Relations) with $7,200 in seed nars. money left from an academic journal “I think it’s good that they bring us Walker had edited and a mandate not to together to discuss these issues — stu- run a deficit. With assistance from George dents, professors, people in professions, in R. Houston Jr., the university treasurer at the business community, in government,” the time, Walker began recruiting finan- said Raymond Ranelli, former vice chair cial support from the business community. of PricewaterhouseCoopers. “You don’t get Coopers & Lybrand, Price Waterhouse, that just anywhere. You don’t just walk and Arthur Andersen were the first to Senate Banking Committee Chairman Richard down the street and run into people like sign on. Eventually, seven of the Big C. Shelby delivered the keynote address at the that — really top-notch people.” Eight accounting firms became sponsors, center’s 15th anniversary conference.
McDonough Business 23 Allan C. Eberhart and NYU Stern School Venice and at the Professor Edward I. Altman, was held in Multinational May 1991. Since then, the center has Finance Society sponsored conferences on such topics as Conference in “Emerging Markets,” “Alternative Struc- Montreal, for tures for Security Markets,” “International instance. A study
Accounting Standards,” “Evolving Stan- Edward C. Rossotti (MBA’00) of Friedman, Billings, Ramsey Group, last year by Chris dards of Securities Markets,” “Functioning sophomore Keith E. Olson, and seniors Kathryn-Ann Bloomfield, Villar, Lorena and Regulation of Capital Markets,” and Jennifer A. Rooke, and Julie L. Davies. Droba, and Kelly “The Political Economy of International Kirby (all B’02) — Finance.” The Capital Markets Research Center which showed many banks were improp- Conferences on international topics regularly publishes summaries and edited erly conditioning loans on the receipt of routinely attract delegates from dozens of transcripts of its executive policy seminars. other business — was reported by major countries. Through the Visiting Scholars The center’s newsletter, The Ledger,con- news media and led the Federal Reserve Program, private and public sector leaders tains research summaries and interviews Board to propose new guidelines for anti- from other countries spend six to 12 with leaders in finance as well as news of tying restrictions in the Bank Holding months at Georgetown, participating in the center’s activities. Company Act. All five of these students center events, auditing classes and visiting The center’s contributions to students are now employed at major financial American financial firms and markets. include support for student assistants to firms, including Morgan Stanley, Gold- Two visiting scholars authored books faculty researchers, advice and financial man Sachs, Citibank, JPMorgan Chase, while in residence. assistance for student organizations, and Credit Suisse First Boston. One of the Center’s most important annual student visits to the New York The high caliber of McDonough stu- research projects, under contract with the Stock Exchange and the headquarters of dents is a key reason executives say they World Bank, identified factors of success leading finance firms, and backing for stu- are willing to participate in the center’s and failure in International Finance Cor- dent-run conferences. programs. “We’re fortunate to have terrific poration loans to and investments in startup Early each fall at the “Careers in Capi- kids who can sit beside these people at companies in developing nations. Faculty tal Markets” program, finance executives dinner and rub shoulders and ask them members Reena Aggarwal, Thomas L. explain career options, discuss opportunities good questions,” Walker said. Brewer and Walker began the study in 1992 at their firms, and offer advice on prepar- “The cachet of Georgetown University and published their findings in 1994. ing for job interviews, compiling resumes, is also absolutely critical,” Walker added. In 1997, Walker published a mono- networking and researching job opportuni- “Without the cachet of the university, I graph titled “Credit Union Insurance and ties. After the formal presentations, students don’t think any of these people would have Regulation,” and the Credit Union can meet one-on-one with the speakers. A come to the center’s earliest programs.” Research Center moved from Purdue similar program in January helps students But students, faculty and executives University to Georgetown and became a prepare for summer internships. offer one other reason: Walker’s energy, partner with the Capital Markets Some student activities have garnered determination and networking genius. Research Center on some projects. significant attention. A research paper on The center’s success “really is a tribute Islamic bank- to David,” Ludwig said. “He’s really some- ing by Reena body who has a track record of putting P.Tilva and together programs that are of high quality, Jay Tuli (both that have intelligent audiences, where the B’03) was forum is serious.” accepted this John B. Maier II (MBA’86), a found- year for pres- ing partner of the Legacy Partners finan- entation at cial advisory firm in New York, described the European Walker as “an extraordinary networker” Applied Busi- who “has a very good nose for topics that ness Research will be of interest to readers of the center’s Conference in publications and to participants in the seminars they host.” Public Company Accounting Oversight Board Member Charles D. Niemeier (L’95), at the podium, SEC Commissioner Harvey J. Goldschmid, and former U.S. Comptroller “He’s indefatigable,” Maier said. “He’s General Charles A. Bowsher served on the conference’s accounting panel. Bowsher just an amazing guy.” was the conference chair.
24 McDonough Business Putting Business SkillstoWork in Faraway Places
MBAs Enlist in the Enterprise Corps
By Jessica Botta
arin H. Lesica says it’s like Georgetown is one of 52 graduate busi- thek Army: the hardest job you’ll ever love. ness schools that participate in the MBA Even before she was accepted to George- Enterprise Corps’ consortium. The organi- town’s MBA program, Lesica (MBA’95), zation was originally housed at the Kenan who had worked in art museum adminis- Institute for Private Enterprise at the Uni- tration, had the MBA Enterprise Corps in versity of North Carolina–Chapel Hill. In mind. She only applied to schools that 2000, the Corps merged with the Citizens participated in the Corps’ consortium. Development Corps, headquartered in Sometimes called the “Peace Corps for Washington, D.C. Three Georgetown MBAs,” the MBA Enterprise Corps sends MBA graduates have served in the Corps graduates from the top-ranked business since its founding in 1990, and Peter P. schools to countries with emerging or Gasca (MBA’03) left this summer–the transitioning economies where they prove first Georgetown MBA to join the Corps Georgetown MBAs at Enterprise Corps training their skills in a “sink or swim” environment since Lesica and her classmates, Anthony in Chicago in July 1995. From left to right: for local companies. Enterprise Corps vol- R. Corsello and Robb T. Doub went in Laurra and Tony Corsello (MBA’95), Karin Lesica unteers commit to one year of service, but 1995. (MBA’95), former Associate Dean of the MBA many stay longer. Before arriving at their work assign- program Karen Newman, Siri Lise and Robb Doub (MBA’95). Back in the mid 1990s, when Lesica ments, Enterprise Corps volunteers receive was applying to MBA programs, “the world three months of language training in the was globalizing and the walls were coming region, during which time they live with down,” she said. “It was legitimate that my host families. The Enterprise Corps pro- business experience was not going to be vides a per diem and housing allowance, constrained to the U.S.,” she noted. After which is about $1,000 a month, according internships at the Overseas Private Invest- to MBA Enterprise Corps Program Man- ment Corporation doing project finance in ager Phyllis Tutora. In the early to mid Eastern Europe and with an English lan- 1990s, most Enterprise Corps volunteers guage newspaper in Budapest, Hungary, worked in Central and Eastern Europe, Lesica crossed her fingers and applied to where the transition to capitalism was the Enterprise Corps. She was accepted rapid and businesses were emerging from and was assigned to Estonia, a country communist control. Today, the Enterprise more Nordic than Slavic with approxi- Corps has expanded east into Central Asia Karin H. Lesica, MBA’95 mately one and a half million people. to Kazakhstan, Kyrgyzstan, Tajikistan, Panorama of Tallinn, the capital of Estonia Uzbekistan, Azerbaijan, and Russia.
McDonough Business 25 One of the most attractive aspects of the working for a local investment company Enterprise Corps is that it allows MBA called Penta Brokers, since renamed Penta graduates to put the broad spectrum of skills Investments. “You’d come in as a manager they acquired in business school immediately at a company having responsibilities you to work at a high level in a company. wouldn’t have as a new MBA in the U.S.” “As a young twenty-something with an There is a lot of support from the MBA you could add value to a company,” Corps infrastructure in terms of matching said Robb Doub (MBA’95). “Getting com- MBAs with companies, managing the pany financials in order, operations or HR, logistics and preparing participants as Lesica’s first assignment in the everything that you learned was valuable much as possible for the experience. “Once Corps was working for a recently priva- because companies were doing it wrong or you are on the job,” said Corsello, “meeting tized currency and jewelry manufacturer. not doing it.” your company’s high expectations and There was a change in management, and Doub served as an investment officer navigating cultural, language and business she left that job and found a new position for a $15 million venture fund in Poland challenges is entirely up to you.” with a start-up ISP provider called Data called Carasbac. The fund invested in “What was best as well as most chal- Telecom, which had recently become a everything from biotechnology to cable lenging was that, while I was hired osten- franchise of EUNet. “We had to be very television, from pharmaceutical distribu- sibly for finance, I ended up doing a bit of patient,” Lesica said. “And the small suc- tion to Internet and ERP software. “Half a almost everything,” added Corsello. “I cesses that we had we celebrated. That was million dollars in Warsaw in 1995 was a helped plan company strategy, performed part of what the Corps communicated. ton of money,” he said. “It really had a financial analysis, marketed services, Small steps over time and you’ll see it in tremendous impact.” helped with client management, even the end. And I did. It was quite challeng- Carasbac’s managers eventually took designed and wrote company literature in ing and gratifying.” their fund global, building it up to more English for foreign firms, which they At EUNet, Lesica worked on stream- than $100 million through Central and translated to Slovak for local companies.” lining the existing product line and defin- Eastern Europe, Latin America, and Corsello is now a vice president at ing new Internet offers. She implemented China, and rebranded it SEAF, for Small Washington Mutual in Seattle, Wash. research studies in the Baltics, Sweden, Enterprise Assistance Fund. The fund “The marketing and finance skills that and the U.S., she designed and imple- eventually moved its headquarters to you learn at Georgetown are absolutely rel- mented pricing strategy for EUNet’s prod- Washington, D.C., and Doub became a evant in a transitional economy,” said Doub. uct portfolio, and she designed a vice president. He is now a managing “There were companies that we dealt with marketing and advertising campaign to director of the New Markets Growth that had never thought in terms of cash rebrand its services. Fund, a venture capital firm funding small flow or payable/receivable management. She renewed her commitment to the to medium sized early stage high-growth The basic concepts you learn as an MBA Enterprise Corps and stayed in Estonia companies in the greater Washington, were a tremendous value add for them.” another year. Lesica now works in product D.C., and Baltimore metropolitan areas. Still, perhaps the biggest lesson the management for AT&T, where she over- “It was an incredibly entrepreneurial Enterprise Corps volunteers learned is that sees the investment management of the time,” Doub said. “Everyone was thinking they didn’t know everything. global IP and data product portfolio opportunity.” “I quickly discovered that they knew within AT&T’s enterprise networking “[The Corps] was really a good oppor- much more than I did about competing in business. tunity to work at a much higher level very an emerging economy, and I learned as Lesica, along with other Enterprise quickly,” agreed Tony Corsello (MBA’95), much, if not more, from them as they Corps members in Estonia, founded the who was assigned to Bratislava, Slovakia, learned from me over the course of a year,” American Chamber of Commerce in admits Corsello. “They taught me how to Estonia with support from the American react quickly, be more flexible, and have Embassy and many Estonian businessmen more than one plan in mind. So much was working for U.S. subsidiaries or companies changing with privatization and politics with U.S. interests. They built the organi- that we didn’t know which of the three, zation, secured funding, grew the member- four, or more scenarios was going to hap- ship base, hired an administrative director pen, but we had to be ready for any of and established the charter and commit- them. Surprises were the norm.” tees to support the Chamber’s work. Despite the vortex of change in Central The shared experience of MBA Enter- and Eastern Europe at the time, some prise Corps members creates a strong net- opportunities in those regions with little or work around the world both during and no exposure to free markets also demanded after assignments. “One of the first things patience. I do whenever I move to a new city is to “To work in the Corps in a developing contact any local Corps alumni,” Corsello market you have to have patience,” said said. “They readily assist other alumni with Lesica. “It takes a lot longer to accomplish job leads, referrals and business partner-
Karin H. Lesica, MBA’95 something that as an MBA you think ships, regardless of the school from which Alexsander Nevski Cathedral in Tallinn, Estonia should happen very quickly.” they graduated.
26 McDonough Business From Kyrgyzstan, With Love: An MBA Enterprise Corps Diary
By Peter P. Gasca (MBA’03) “Surviving and succeeding in such a sink-or-swim environment makes Corps alumni attractive to companies that, in When I applied to the MBA program at Georgetown University, I never addition to traditional MBA skills, value imagined that after graduation I would be living with a Russian family in the Central flexibility, entrepreneurial skills, and the Asian city of Bishkek, Kyrgyzstan. Well, that’s what I did! ability to not only understand a new cul- Before getting my MBA, I had no international work experience, never lived abroad, ture, but become part of it and be effective and never worked with a multinational corporation. In fact, I had never lived or quickly,” says Corsello. worked outside my home in Arizona. At Georgetown I had the opportunity to meet The Enterprise Corps often leads to good career opportunities, but the volun- and share experiences with a largely international MBA class as well as gain expo- teers understand that it’s as much of a life sure to large multinational corporations that recruited from the program because of experience as it is a professional experi- its international business emphasis. The MBA Enterprise Corps had a particularly ence. “It’s a skill to be able to live in a for- interesting offer. eign environment, overcome cultural The program seemed to have everything I needed: an opportunity to live abroad, to differences and still be effective,” Corsello learn a new language (in my case Russian, which would be very valuable in an inter- said. “To have the confidence to do it.” The life experience was an important national business sense), to work with foreign companies as a business development factor in Peter Gasca’s decision to apply to consultant, and to develop a network of contacts who share similar interests and the Enterprise Corps. In July he left for career goals. I was not going to become instantly rich drawing the MBA-type salaries Bishkek, Kyrgyzstan, where he began three I had read about prior to leaving my last well-paying managerial position, but I had months of intensive Russian language train- to believe that the long-term benefits of this experience far outweighed the short- ing. In October he headed to Almaty, term benefits of a new big screen television and home surround-sound stereo system. Kazakhstan, where he’ll work as a business I applied to the program and was lucky enough to be offered a position. Although I development consultant for Pragma Cor- poration, an organization funded through took the entire week to declare my interest (something we learned in our negotiations the USAID Enterprise Development Pro- class), I had made my decision almost immediately upon receiving my offer. I made ject to expand opportunities for participa- arrangements for my finances and what little assets I had remaining after grad tion, livelihood and quality of life for the school, and set out for Central Asia in July. I can already say that this experience citizens of the Central Asian Republics. has been more personally rewarding than I ever imagined. I have seen amazing “We are all so interconnected,” said places, met fascinating people, and experienced a culture completely unique to me. All Lesica. “It’s not much time in anyone’s of this would have never been possible working in a cramped cubical crunching num- life to spend a year working in another bers and turning paper. Of course, I have not yet experienced my first winter here culture.” either, and from what I have been told, I will soon be cursing the cold and dreaming of warmth and the amenities and comforts of home!
In October I moved to Almaty, Kazakhstan, where for the next twelve months I will work for Pragma Corporation, an international development con- sulting firm. My goal after completing my assignment is to seek employment with a consulting company that focuses on business development in this region or within Russia. I have met several volunteers from previous assignments who have stayed in the region to work for Pragma as a full-time paid employee or for other consulting companies who focus on this upcoming developing region. Not only do they continue to gain valuable business devel- opment experience, as paid expatriates, they are living more com- fortably than most MBA graduates I know.
For now, though, I will continue to enjoy the chai and the fabulous Central Asian cuisine with my new local friends while working on my Russian. I still have my dreams of a large screen television and surround sound stereo system, but they can wait for now. Peter Gasca
McDonough Business 27 corporateprofile
First in a new series of articles highlighting significant collaboration between the McDonough School of Business and its corporate partners.
Citigroup perspectives
“I consider Georgetown’s undergraduate Citigroup is a preeminent global financial services company with some 200 million and graduate programs in customer accounts in more than 100 countries. Citigroup provides consumers, corpo- business to be among the rations, governments and institutions with a broad range of financial products and serv- best. I like the profile of Georgetown students ices, including consumer banking and credit, corporate and investment banking, because they embrace the insurance, securities brokerage, and asset management. Major brand names under international environ- Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith ment in which we operate Barney, Banamex, and Travelers Life and Annuity. and adapt well to the Citigroup culture.” Citigroup’s corporate philanthropy has been tied to recruiting at leading undergrad- Lorraine A. Montero (F’68) uate and graduate business schools, like the McDonough School, where the company Managing Director, Emerging Markets Region Head, aims to provide career guidance and skills for the next generation of business leaders and Latin America, Citibank increase access to higher education and the workplace for minorities and women. “Georgetown’s emphasis on international business Citigroup has long been committed to making the communities in which it operates and the business-government relationship better, and at the same time, setting industry standards for business practices and means that its students are well-rounded and corporate values. Similarly, the McDonough School of Business is dedicated to educat- have a good picture of the cultural and regulatory ing ethically responsible business leaders and producing new knowledge that will improve challenges, in addition to the financial and both the management of organizations and the global society in which we live. With so operational challenges, that can impact the success many synergies and mutually beneficial links, it’s easy to see why Georgetown has valued of transactions.” Mark D. Prybutok (JD/MBA’01) its relationship with Citigroup for more than 30 years. Management Associate, Citigroup Global Markets Inc.
“Coming from a school that had just as many cul- connections tures represented as Citigroup prepared me well for the diversity that we value and support here. Citigroup has provided financial support Georgetown University is a Citigroup The perspective and exposure that we gained to Georgetown University in excess of $2 “focus school” for its recruiting efforts at through the MBA program matches well with the million, funding programs such as the Capital both the undergraduate and MBA level. diversity of the Citigroup workforce.” Markets Research Center, the Corporate Melissa L. Henson (MBA’02) Citigroup supports mock interviews Affiliate Program in MBA Career Man- Management Associate, CitiCards for MBA students, MBA orientation, agement, the Citigroup MBA Minority MBA Careers Extravaganza, and multiple Fellowship, and the Georgetown University club events. “Whether interviewing students for admission to Women’s Leadership Initiative Distinguished Georgetown or applicants Speakers Series. Citigroup hires McDonough School for jobs at Citigroup, I am graduates for full-time positions as well as Citigroup is the largest employer of looking for the best and summer internships in the following business Georgetown University graduates, with brightest that can con- units: Citicards, Financial Management Asso- more than 300 alumni in its employ (double tribute as productive team ciate Program, Corporate & Investment the nearest competitor); the company has members. The partnership Banking, Global Transactions, and Consumer been one of the top three employers of between alumni, George- Management Group. Georgetown students for the last three years town, and Citigroup con- at both the undergraduate and MBA level. Citigroup supports the Georgetown Uni- tinues to grow and versity Wall Street Alliance with two senior strengthen every year.” executives on its Executive Committee. Paul M. Donlin (B’83) Managing Director, Head of Global Securitization
28 McDonough Business Cracking the Asia Pacific Market MBAs Tackle Citibank Credit Card Case
xecutive Professorial Lecturer Kenneth E. Homa teaches “Citibank: Launching the Credit Card in Asia Pacific,” in his Prominent Georgetown Alumni E Advanced Marketing Strategy elective for sec- and Friends at Citigroup ond-year MBAs. The case centers on Citibank’s Charles Prince (L’83) Asia Pacific Consumer Bank in the late 1980s, Chief Executive Officer, Citigroup Inc., when the company was considering growing Chairman and CEO, Global Corporate and Investment Banking Group its business in the region by launching credit cards in one or more Asian Pacific markets. A.M. DeRosa (B’64) Homa’s students position themselves as out- Senior Vice President-Investments and Senior side consultants to the head of Citibank’s Portfolio Manager, Smith Barney International Consumer business. Their job is Muge Yuzuak, head of online acquisitions to develop a strategy for penetrating the Asian Paul M. Donlin (B’83) and online sales for CitiCards, discussed key Managing Director, Head of Global Securitization market with credit cards and to present it to decision factors and challenges of international Citi management. market development at MBA Marketing Day A. Lincoln Hoffman III (B’65) in September in Gaston Hall. Homa has been teaching the Citibank case Former Executive Managing Director, Global Relationship Banking; Member of McDonough for five years. “The case is intended to be a School Board of Advisors synthesis assignment that integrates global marketing strategy, new product development, and financial analysis,” said Homa. “The case is so rich in content, so broadly applicable to areas Thomas W. Jones (Parent) beyond credit cards, and so well-matched to the disciplines we emphasize throughout the Chairman and CEO, Global Investment Manage- curriculum that I dedicate three class periods to it.” ment and Citigroup Asset Management In the first class session, the students work in teams to conduct a complex financial analysis of the Victor J. Menezes (Parent) proposed strategy to launch credit cards in Asia Pacific in order to determine the number of card Senior Vice Chairman, Citigroup members Citibank will need to make the initiative financially attractive. In the second class period,
Lorraine A. Montero (F’68, Parent) the teams prepare an analytically-derived market entry sequence and proposed tactics for targeted Managing Director, Head of Global Relationship countries in the region. The teams rank the countries using a structured methodology that inte- Banking, Latin America; Member of McDonough grates the quantitative and qualitative factors presented in the case. In the third session, the teams School Board of Advisors and Wall Street propose their market entry strategies, including an issues analysis, assumptions and conclusions, Alliance Executive Committee recommended course of action, and risk and return summary.
George Ross (B’63) The multidisciplinary nature of the case is appealing to Homa. “The students have to use their Chief Credit Officer accounting and financial analysis skills to solve what is positioned as a marketing strategy prob- lem,” he said. The Citibank case is also data rich, Homa adds, which means that it involves a sig- Joseph W. Sprouls (C’72) Division Head, Corporate Realty Services; Mem- nificant amount of quantitative analysis. “It’s more rigorous than typical descriptive cases.” The ber of Wall Street Alliance Executive Committee international scope of the case also maps well to the Georgetown MBA experience.
This year, the students’ case experience was enriched by the participation of Muge Yuzuak, head Jeffrey A. Volk (B’74) Managing Director, Head of Citigroup Agency of online acquisitions and online sales for CitiCards, and Melissa Henson (MBA’02), a Citibank and Trust; Member of Capital Markets Research manager, who spoke at Marketing Day in September. “Guest speakers provide an inside perspec- Center Board of Advisors tive that is invaluable,” said Homa. “Hearing the strategic thinking from the people involved helps the students get a broader and stronger management perspective that is not available from the public documents available with the case.”
Homa has also brought executives from AOL and XM Satellite Radio to his classes when teaching cases on those companies. Homa often uses cases on local companies or companies that are top recruiters of Georgetown MBA students. “More and more I’m using cases that directly relate to what our students will be doing when they graduate,” Homa says. “After studying the companies inside and out, they are in a much better position to succeed in interviews and, most important, succeed when they hit the real world.”
McDonough Business 29 dividends
FY03 Fundraising Update included the Center for Busi- ness and Public Policy, the Cap- The McDonough School of ital Markets Research Center, Business raised more than $22 and the Credit Research Center. million in philanthropic contri- butions in fiscal year 2003, mak- McDonough Selects 2003 ing the year one of the most Connelly Foundation successful in the school’s fund- MBA Scholars raising history. Major areas that benefited were the planned new The 2003 recipients of the Con- Tonya M. Davis and M. Alejandra Gonzales (not pictured: Carlos Urueta) business school facility and the nelly Foundation scholarships MBA Minority Fellowships school’s career management are first-year MBA students programs and research centers. Miriam E. Leonard, Tabitha J. First-year MBA students Tonya M. Davis and Carlos Urueta and second- Lens, Senthilkumar Sankaran, year MBA student M. Alejandra Gonzales are this year’s MBA Minority The school last year raised $15 Monica R. Sharpnack, and Fellows at the McDonough School of Business. million for the new building Melanie R. Stout. project, says Michael T. Boyd, Sponsored by JP Morgan Chase, Citigroup, and Toyota Motor Sales, USA, Inc., and in the past by Levi Strauss & Co., the MBA Minority Fellowship director of development for the Ten half-tuition Connelly MBA Program has helped increase the number of U.S. minority students McDonough School. scholarships are awarded each enrolling in the McDonough School’s MBA program, says Monica Gray, year, five for each MBA class, Constructing a new home for director of MBA admissions. from the pool of admitted MBA the McDonough School, he students. Connelly Scholars are “The caliber of the fellowships draws highly qualified students to the explains, will bolster the school’s [MBA] program,” Gray says. selected for their academic ability to expand its degree achievement, superior leadership Launched in fall 2001, the fellowship program also aims to create diverse offerings and its career and stu- potential, and strong work ethic. leaders for the business community. It has been successful in doing so: dent services, offer classroom May 2003 marked the graduation of the first students to receive MBA technology equal to that offered The Connelly MBA Scholar- Minority Fellowships, and the first JP Morgan Chase Fellow, Leon Dunklin by peer institutions, and lower ship Selection Committee con- (MBA’03), whose fellowship included an internship with the company, its student-faculty ratios by hir- sists of a representative of the began working fulltime for JP Morgan Chase in July. ing new faculty. Connelly Foundation, Associate Dean and Director of the MBA The school raised nearly $2.2 program Marilyn A. Morgan, more time to conduct research the McDonough School. His million in Annual Fund gifts Director of MBA Admissions and to present it to colleagues research interests include strate- and other unrestricted contribu- Monica Gray, and the faculty around the world. gic analysis of logistics systems tions, which were used to chair of the Graduate Curricu- in a variety of industries. His address areas of urgent need at Aggarwal says the fellowships lum and Standards Committee. work on humanitarian logistics the school, such as fostering fac- demonstrate that “the school, was featured in the ulty research and strengthening The Connelly Scholars met the university, and donors rec- Spring/Summer 2003 issue of career management services, with Connelly Foundation ognize the value of research.” Georgetown Business. Boyd says. As a result of the trustees during a luncheon on She adds, “I think [the fellow- dean’s investment in career serv- October 2 at Georgetown. ship] also motivates other fac- The Stallkamp Fellowship fos- ices in fiscal year 2003, the per- ulty to do research and publish ters and rewards outstanding centage of McDonough School Aggarwal, Ernst Named in top-tier journals.” teaching and research at the MBA candidates who had full- Stallkamp Fellows McDonough School and is Aggarwal, a specialist in inter- time jobs 90 days after gradua- awarded to senior faculty mem- The Ann and Thomas Stal- national stock markets, currently tion rose from 72 percent in bers based on their research lkamp Fellowship has been focuses on corporate governance academic year 2002 to 90 per- records and demonstrated excel- awarded for two years to two in an international context. She cent in 2003. lence in teaching. Thomas T. McDonough School professors says the practical nature of her and Ann P. Stallkamp are par- Endowed and current-use in recognition of the excellence work means she will be able to ents of Tim (B’98) and Gregory scholarships and other restricted of their research and teaching. bring new research made possible (B’00). Thomas serves on the current-use funds accounted for The award, say Stallkamp fel- by the fellowship into the class- McDonough School of Business close to $2 million of the total lows and McDonough School room to benefit students directly. Board of Advisors, and Ann is a raised by the school last year. Professors Reena Aggarwal and Ernst co-directs the Global member of the Georgetown Beneficiaries of restricted gifts Ricardo Ernst, will give them Logistics Research Program at University Board of Regents.
30 McDonough Business alumniconnections Benefits and Services for McDonough School of Business Alumni
Online Community Online Job Postings Class Reunions hoyasonline The MBA/IEMBA Alumni Job Board is a Reunion Weekend was established to cele- Visit hoyasonline and update your contact board exclusively by and for McDonough brate the 5-year anniversary of classes each information, access e-mail forwarding, MBA and IEMBA alumni. For more June. Reunion 2004 runs from June 4–6, search the alumni career network, and more! information, visit the MBA & IEMBA 2003. Undergraduate alumni should contact www.georgetown.edu/alumni Alumni site. Allison E. Hamilton at (202) 687-0805 or www.msb.edu/mba/alumni [email protected]. MBA and IEMBA Alumni Career Services alumni should contact Robert Johnson at Other online job postings are also available (202) 687-6738 or Career Advice From hoyasonline Career through Monstertrak, Monster.com’s execu- [email protected]. Network Members tive site, 6FigureJobs.com, ExecuNet and Search all Georgetown University alumni Degree Hunter. MBA & IEMBA Alumni Groups and talk with alumni who have agreed to www.msb.edu/mba/alumni offer career advice in selected career fields. McDonough MBA & IEMBA Alumni You may also do an Advanced Search by Individual Career Counseling Groups have been established across the class and employer. U.S. and overseas in Japan, Mexico, and For MBA & IEMBA Alumni www.georgetown.edu/alumni London and focus on networking functions Schedule up to two one-hour sessions with a including relationships with MBA alumni career counselor and discuss issues such as Career Tools from other top business schools. career transitions, job search strategies, and www.msb.edu/mba/alumni Available to Career Network members resume development. (All MBA/IEMBA alumni are members) www.msb.edu/mba/alumni Join Career Tools and access premium University Alumni Clubs research databases, an exclusive web search Wall Street Alliance Forty-seven Georgetown University Alumni engine covering over 100,000 company job Clubs exist within the U.S. and internation- The Wall Street Alliance helps to create and sites and useful tips on conducting an effec- ally. The clubs serve as an excellent way to participate in networking opportunities for tive job search. Enjoy a special relationship meet other university alumni and offer a financial professionals and graduating stu- between Georgetown alumni and Lee variety of activities of particular interest to dents. Contact the Wall Street Alliance at Hecht Harrison located in 50 states and 20 McDonough School alumni. (212) 704-0884. countries. To join, go to hoyasonline and www.georgetown.edu/alumni select Alumni Career Services. Alumni Clubs Career Programs www.georgetown.edu/alumni University Alumni Special Services The Georgetown University alumni clubs The University Alumni Association’s special offer career-related programs such as work- Global Workplace services include an Alumni Credit Card shops and panel discussions featuring alumni Global Workplace is an international career through MBNA, Alumni Travel Oppor- who have made career transitions. management and development platform for tunities worldwide, and low-cost life and www.georgetown.edu/alumni alumni of the world’s top 50 business medical insurance. schools. Join and search a database of inter- www.georgetown.edu/alumni MBA & IEMBA Class Programs national, access salary surveys and discover MBA & IEMBA Alumni Class Programs tips on finding a job in the world’s key are being developed to promote communica- employment markets. tions among classmates. Class officers pre- www.msb.edu/mba/alumni pare electronic newsletters and help in reunion organizing and the school’s fund- raising efforts. Volunteers are being sought for all classes. Contact Robert Johnson at (202) 687-6738 or [email protected].
McDonough Business 31 reunions it’s been so long since we last met...
eunion Weekend 2003 was a great success. Three hundred and ninety business school undergraduates and 290 MBA and IEMBA alumni from the Classes of 1958, 1963, 1968, 1973, 1978, 1983, 1988, 1993, and 1998 returned for four days of activities and remi- niscence on the Hilltop. Undergraduate alumni attended Main Campus Reunion, organ- ized by Georgetown University’s Office of Alumni and University Relations, with MBA and RIEMBA reunion activities receiving additional organizational support from the McDonough School’s Graduate Alumni Office.
The weekend kicked off for undergraduates on Thursday, May 29, with class parties at venues ranging from the ubiquitous Tombs to the Old Ebbitt Grill. On Friday and Saturday, there were golf tournaments, bike rides, community service activities, gallery talks and exhibitions in Lauinger Library, campus tours, activities for the kids, and a special forum moderated by President John J. DeGioia on “America’s Role in the World” featuring former president Bill Clinton (SFS’68).
MBA and IEMBA alumni gathered Friday evening, May 30 for a Faculty-Alumni Reception in the Car Maxwell Owusu, Daniel Duku (MBA’93), Duk-ki Yu Barn, after which they dispersed to local restaurants for class parties. (MBA’93) and Yoonjung Yu at the French Embassy MBA and IEMBA dinner and dancing party. Saturday afternoon, more than 70 MBA and IEMBA alumni gathered at the Golf Courses at Andrews Air Force Base for the Third Annual IEMBA Cup Golf Tournament, while another 90 MBA and IEMBA alumni and guests participated in the all-school alumni picnic, and visited the International Spy Museum.
On Saturday evening, undergraduate alumni gathered for class receptions and dinner parties at loca- tions both on campus and off. More than 200 MBA and IEMBA alumni and their guests gathered at the French Embassy for dinner and dancing, and to present class attendance awards. The MBA Class of 1993 took top honors at 35 percent , the MBA class of 1998 placed second with 31 percent, and the IEMBA Class of 1998 came in third with 27 percent attendance.
Reunions Weekend ended with an all-class reunion Mass in Gaston Hall and a farewell breakfast on Copley Lawn — an opportunity to say goodbye and to make plans for 2008.
The McDonough School of Business would like to thank all business school reunion committee mem- bers and class leaders for their enthusiastic support of Reunion Weekend 2003.
Reunion Weekend will be held on June 4, 5 and 6, 2004 for class years ending in 4 and 9. For more Associate Professor Alan Mayer-Sommer and information and to volunteer for their class reunion committee, undergraduates should contact Acting Bonnie Mayer-Sommer. Director of Class Advancement Allison E. Hamilton at (202) 687-0805 or [email protected] and MBA and IEMBA alumni should contact Director of Graduate Alumni Programs Robert P. Johnson at (202) 687-3738 or [email protected]. Yu Sugiura, MBA’93Yu Sugiura, MBA’93 Yu Sugiura, MBA’93 Yu
Elmira Classen, Yu Sugiura (MBA’93) , Jordan J. O’Neill (MBA’93), Genevieve (Needham) Roberts (MBA’93) and Chris Roberts. Yu Sugiura, MBA’93 Yu
Members of the MBA Class of 1998 gather in the Car Barn during the Faculty-Alumni Reception.
32 McDonough Business Yu Sugiura, MBA’93 Yu Federico Stubbe, B’98 Associate Professor Harvey J. Iglarsh and Rafael V. Berckholtz (C’98), Paula (Viu) Alayo (B’98)
Patti Iglarsh. Jessica Botta and Federico C. Stubbe (B’98) at the Class of 1998 Elena Pisikina and Carlos J. Fonseca (MBA’98) Tent Party on Healy Lawn. Yu Sugiura, MBA’93 Yu Kathy, Terrance, and Terrance M. McDermott (MBA’93). Jessica Botta
Members of the IEMBA Class of 1998.
Director of Graduate Alumni Programs Robert P. Johnson, Professor and Execu- tive Dean of Faculty Joseph B. Mazzola, and Class Reunion Chair William H. Dia- mond Jr. (MBA’83) Jessica Botta during the presena- Associate Professor Bardia Kamrad and Class tion of reunion class Reunion Chair Taylor T. Simmons (MBA’93).
Jessica Botta attendance awards. Jake Barrett, B’73 Jake Barrett,
Class of 1973 Reunion Chair Mark S. Collins
Tyler Tysdal, B’98 Tysdal, Tyler (B’73) and Class of 1973 Communications E. Michael Collins (B’93), Frederick W. Boxa (SFS’93), Michael A. Regent (B’93), Chair Anne Haire (C’73) at the home of Her- Arthur C. Walker, Jr. (B’93, L’96, L’99), James A. Harron (C’93), Justin W. Grubbs bert Menegus (C’73), Class of 1973 Reunion (B’93) and Tyler T. Tysdal (B’93). Committee Chair. McDonough Business 33 alumninotes undergraduate
’62 Driven to Succeed C. Allen Merritt has joined Brendan Gaughan (B’97) Boston International Capital Part- is on the fast track... ners LLC as a partner. He was for- the really fast track. merly executive vice president and chief operating officer of Liberty Gaughan, who started racing Alumni Notes are accepted on Financial Companies, Inc. Merritt dune buggies in the Nevada a first-come, first-served basis serves on the McDonough because of space constraints. desert when he was 15 years School’s Board of Advisors. MBA and IEMBA alumni should old, has become a premier stock car—and truck—driver. He send notes via email to the John T. Schweiters was elected won NASCAR’s Winston West Series stock car championship in class agent indicated. Other- to the Board of Directors of Dana- 2000 and 2001. He was named the NASCAR Craftsman Truck wise, email your notes to her Corporation. Schweiters is vice Series Rookie of the Year in 2002. This season he’s battling for [email protected], chairman of Perseus, LLC, a mer- or send them to Editor, the truck series championship. chant bank and private equity McDonough Business, Sports have always been at the center of Gaughan’s life. He Georgetown University, fund management company, and 206 Old North, Washington, will chair Danaher’s Audit Commit- was an all-conference place-kicker for the Georgetown football D.C., 20057, or fax them to tee. He also serves on the boards team in 1993 and played on Hoya basketball teams that made (202) 687-2017. of Manor Care, Inc. and Smithfield the NCAA tournament in four consecutive seasons. He attrib- We do not accept engagement Foods, Inc. utes a great deal of his racing success to what he learned from or pre-birth announcements. his father, Michael Gaughan, former Georgetown basketball Posting notes on hoyasonline is another option. Go to coach John Thompson, and his business school teachers. www.georgetown.edu/alumni ’64 Driving is only part of his job, Gaughan said. On the racing and click on “My Information” Peter C. Schaumber (B’64, L’68) in the upper left corner. was nominated by President Bush team, he explained,“ I have to manage people—find a way to and confirmed by the U.S. Senate have good human resources. I have to get sponsors, market for a five-year term as a member myself, market my race team. Then I have to use the money of the National Labor Relations properly. I learned a lot of that in my courses.” Board. ’73 James K. Griffin Jr. was named Stephen M. Wolpert was pro- shall, Inc., for a total of 17 years executive vice president of Medal- moted to president of Brunswick and served as the firm’s chief list Developments, an international Boat Group’s US Marine Division. financial and operating officer. He developer of premier residential Wolpert has previously served as also served as a manager of Price- lifestyle communities. Griffin will chief operating officer for the US Waterhouse’s Management Con- oversee acquisitions, project man- Marine Division. A global leader in sulting Services Group. agement, and business develop- the leisure products industry, ment for the company’s east coast Brunswick’s marine goods include operations, and will be based in Sea Ray and Bayliner boats and Jupiter, Fla. Mercury and Mariner engines. ’79 David J. Elliott was named cor- porate controller of Cabot Corpo- ration, a specialty chemicals ’76 ’77 company. He was formerly director James Fitzgerald joined the Los Gordon M. ’Gibb’ Marchand is a of internal audits and joined Angeles office of Stroock & founder and principal of Sustain- Cabot in 2002. Prior to Cabot, Stroock & Lavan, a national law able Growth Advisers, LP, a New Elliott held senior financial posi- firm with offices in Los Angeles, York based investment firm that tions with Lyondell Chemical Com- New York and Miami. Fitzgerald formally began operations in July pany and ARCO Chemical will continue to practice trial work 2003. Prior to launching Sustain- Company. in the business litigation and insur- able Growth Advisers, Marchand ance areas. was with Yeager Wood & Mar-
34 McDonough Business undergraduate
Giving Back Mohammed Dewji (B’98) ’83 knows that an international Adam R. Blackwood has joined Banc of America Securities as man- education is a powerful aging director in equity sales based investment. That’s why in in New York. He joined the firm in August he was invited by the July after 11 years at JP Morgan American Embassy in Tanzania, Chase where he was most recently Julius T. Spring his home country, to provide a a managing director covering major New York-based accounts. keynote address at an orientation program for more than 40 Tanzanian students leaving to study in the United States. ’91 Russ Jaeger started an accounting “A U.S. education has a lot to offer,“ he told the students, ’84 firm, Jaeger & Co., in Dec. 2002. “But even more than that, every one of you has the creative David J. Orrico has joined Sales- The firm specializes in tax, account- talent to make a difference in Tanzania.“ force.com as senior vice president ing and wealth management for and general manager of Americas. small businesses and individuals, Dewji is his own best example. The finance and international He previously served as vice presi- and is based in West Hartford, business major that graduated summa cum laude went back dent of Eastern Operations for Conn. to Tanzania after graduation and is now the managing director Siebel Systems. of Mohammed Enterprises Tanzania Ltd. (METL), one of the Missy Sue Mastel is the author of Telecom Audit (McGraw-Hill, largest private companies in Tanzania. The conglomerate was 2003), a guide to telecommunica- founded 30 years ago by Dewji’s father and today is engaged ’88 tions cost reduction for corporate in diverse fields of manufacturing, distribution, agriculture, James C. Gaffigan married Jean- managers. Mastel is president and and trading. METL has grown eightfold under Dewji’s leader- nie Noth, a fellow actor and come- founder of Mass-Tel Communica- ship. The company employs close to 5,500 people and gener- dian, on July 26, 2003. They live in tions Inc. in San Francisco, which ates more than $100 million a year in revenues. New York, where Gaffigan appears helps businesses reduce their in Manhattan comedy clubs and telecommunications bills. Dewji says that his education at Georgetown is a constant periodically on NBC’s “Ed” and guide to his achievements and successes. However, for Dewji, Fox’s “That 70s Show.” life is a long learning process. Dewji’s personal motto: “To live each day is to learn, and to learn something new is to enlighten one’s mind.“ ’89 Mark S. Spring and Sheila Y. (Greaves) Spring (B’90) are pleased to announce the birth of Louis R. Moffa (B’79, L’82) joined their third child and first son, Julius Missy Sue Mastel’s (B’91) Ballard Spahr Andrews & Ingersoll, T. Spring, in June 2003. The family ’82 new book LLP of Voorhees, N.J., as partner in Lawrence P, Fisher II, senior vice lives in El Dorado Hills, Calif., out- the Litigation Department and president at US Trust Company and side Sacramento. For the last few Construction Group. He was a member of the McDonough School years, Sheila has put her career on managing partner of Schnader Board of Advisors, met with under- hold while concentrating on raising Harrison Segal & Lewis, LLP in ’92 graduates at the October 7 Break- the couple’s two daughters. Mark Troy Thorn, wife Arlene, and Cherry Hill, where he co-chaired fast with the Dean. is the managing partner of the daughter Tatum Monet, announce the firm’s construction law practice. Sacramento office of Carlton, the birth of Gavin Mayur Thorn on DiSante & Freudenberger LLP, a March 10, 2003. Troy is hoping California firm specializing in labor Georgetown will have a division I A ’81 and employment law. Mark has football squad soon so that his “lil’ James P. Kelly was named direc- also been coaching high school linebacker” can play at the Hilltop tor, internal audit, at Cabot Corpo- basketball at Folsom High School before joining the NFL. The Thorns ration, where he previously served in Folsom, Calif., and broadcasting reside in Fort Worth, Tex. as director of investor relations. high school sports on From 1998 to 2002, he served as www.network1sports.com. Saad Hariri was profiled in the finance director for Cabot’s Carbon April 14 issue of Forbes for his Black business. work as head of Saudi Oger, the $3 billion Riyadh, Saudi Arabia- based construction conglomerate. Mayo and Fisher
McDonough Business 35 alumninotes mba undergraduate ’97 In Memoriam ’87 Julie A. Ryan was married to John Timothy Jackson Harvey Chimoff is managing Edward S. Burke on September 6, 1981–2003 director and CEO of Primos Trading 2003. Ryan is an equity analyst for Company, LLC, an international Oppenheimer Funds. John T. Jackson (B’03) of Kansas company that imports, markets and City, Mo., died in an accident on distributes Spanish wine in the United States. He co-founded Primos June 29, 2003. He was 22. Jack- in 2001, and the company began ’01 son graduated from the McDo- La Tasha Boone was named an shipping wine in the fall of 2002. nough School in May and had The wines have been well-received in Alumni Honoree by the National Eric L. Schwartz (B’01) and his the national and local press. Web- Academy Foundation (NAF) during fellow panelists at the OPIM Majors begun working in the research the organization’s 19th annual Group discussion. department of the Chicago resi- site: http://www.primostrading.com. Chimoff is also continuing with his 2003 Institute for Staff Develop- dential mortgage banking firm ment. She was one of 10 alumni marketing management-consulting Draper and Kramer. At George- honorees selected from the 32,000 Eric L. Schwartz served as a pan- company, Velocity 1 Consulting, graduates of NAF academies. elist at the Operations and Informa- town, Jackson was a member of Inc. Website: http://www.velocity1. Boone, a 1997 graduate of Dou- tion Management Majors Group the sailing team and studied com. Chimoff also reports that he loves his new house in central glas Byrd High School Academy of panel discussion on October 15 in abroad in New Zealand his jun- Finance in Fayetteville, N.C., was a Old North. Schwartz is manager of New Jersey. ior year. He was a National double major in finance and inter- information technology at Promon- Merit Scholar at Pembroke Hill national business and was the tory International Network LLC. recipient of the 2002 PriceWater- Other panelists included Marilyn School in Kansas City, where he houseCoopers scholarship for Stewart, LLC, executive director of was also on the soccer team and Comparative Business Study at technology and quality at Northrup in the Spanish Club. Oxford University. Boone currently Grumman, and Geraldine MacDon- works as the portfolio coordinator ald, senior vice president and strate- In September 2003 the George- for Modern Africa Fund Managers, gic advisor at AOL. town University Athletic Depart- LLC in Washington, D.C. ment renamed its Georgetown Harvey Chimoff (MBA’97) ’03 Team Race Regatta the John T. Jay Tuli and Reena P. Tilva were Jackson Memorial Team Race given a Best Paper Award at the Regatta to celebrate Jackson’s ’89 European Applied Business life and legacy at Georgetown. James Stafford is a realtor in Research Conference in Venice, Jackson Hole, Wyo. with Prime A boat has also been named in Italy, where they presented their Properties. He invites his fellow Jackson’s honor. research on Islamic banking. Hoyas to come see the majesty of the Tetons. Jackson is survived by his par- ents, Robert, a Kansas City pedi- atrician, and Linda, as well as ’90 two sisters, Lisa and Lindsey. Class Agent: Lorraine Herr [email protected] Memorial masses were held on July 3 at St. Peter’s Catholic George Coundouriotis has been training for the Chicago Marathon Church in Kansas City and on scheduled for October 2003. His La Tasha Boone (B’01) received an September 27 at Georgetown goal is to beat his previous personal alumni award and presented the University’s Dahlgren Chapel. best set at the Virginia Beach Mara- keynote speech at the National thon in 1987—pre-business school. Academy Foundation’s 2003 Insti- tute for Staff Development in Eileen Utter surprised Lorraine Phoenix, Ariz. in July 2003. Herr by traveling to Chicago in April 2003 to celebrate Lorraine’s birthday. Eileen, who resides in San Francisco, has been biking and hik- ing during the summer. She is also active with several local non-profits.
36 McDonough Business Investing in Community
Michele Giddens (MBA’91) invests venture capital for mba profit and for good. Giddens is one of four executive John Anderson is the Managing Simmons, class reunion commit- directors of Bridges Community Director at the John Hancock Life tee chair, thanks his fellow com- Ventures, the United Kingdom’s Insurance Company in Boston. In mittee members Jennifer Zydney, first community development his spare time he hones his graphic Jordan O’Neill, Tom Liu, and venture capital fund. The fund arts skills by creating his family’s Hiromi Satoh, as well as everyone invests in companies that have annual holiday greeting card. who came. high growth potential, are led Bradley Hazelrigg launched a Taylor also writes that after a 20- by skilled managers and do new ad agency in San Francisco. year hiatus he was inspired by the business in deprived neighbor- He is the founder of Firewood, movie “Dogtown & Z-Boys” to hoods. Its goals are to create an advertising agency specializing take up the extreme sport of skate- sustainable jobs, stimulate the in direct and digital marketing, boarding again. He now visits economy, provide entrepreneurial role models within the poor corporate identity, and collateral. Washington, D.C.-area skateparks communities, and encourage other venture capitalists to make Firewood’s client list includes Linde- about twice a month. mans (wine), Dewar’s Scotch, Bac- similar investments. From David Benjack: “Chesa- ardi Global Brands, Informative, peake Drywall and Acoustics is ”To succeed,”Giddens said, ”we would have to create an attractive ePolicy Solutions, and Market entering its tenth year of business. financial return to our investors and demonstrate that the compa- Compass. Check out Firewood on We are dedicated to commercial nies we invested in had positive impact on the local area.” www.firewoodsf.com. construction in the Southeast Giddens has been with the fund since its conception. She Bill Kummel is in Washington, region of Virginia and upper north- D.C. He had a challenging August east region of North Carolina. I advised a British government task force that recommended the putting out a daily newspaper in started a second business in 2002. fund’s creation in 2000. The fund was established and made its spite of the blackout. Bacchus Wine Interiors is a niche first investment in 2002. It met its 40-million-pound fund-raising design/build contractor that spe- target in September 2003, with investments from some of the Beth Laboe Edgar and husband cializes in custom wine closets and world’s most-prominent financial corporations. Jason enjoyed their Minnesota cellars. Our customers are both summer making many trips up to commercial and residential. The fund is modeled on community investment organizations their camper with daughters Isabel Presently we are concentrating in that have been operating in the United States. Before joining and Colette. Beth continues with this region only, before considering Bridges Community Ventures, Giddens worked for ShoreBank, consulting projects for 3M when expansion. My wife Claire and I a leading U.S. community development bank. she’s not volunteering at her and our three sons, Andrew, Alex daughter’s schools. and Clay, live in Norfolk, Va.”
’91 2. Holly continues to manage her December 2001. He is a terrific lit- ’94 husband’s law practice, Shepard, tle boy and we are having a blast! Class Agent: Mary Pat Blaylock Class Agent: David Gee [email protected] Plunkett, Hamilton, Boudreaux & In the spring of 2001 I left my job [email protected] Tisdale, in Augusta, Ga. as a senior manager at Pricewater- houseCoopers and started my own I heard from Shubber Ali Julie and David Petroni are busy company for interior design. In Fall ([email protected]) with their two daughters, Megan ’92 2002 I took on a business partner Jonathan Foxman, president and for the first time in a while. He’s (3 months) and Emily (2 years). and we developed Legacy Design CEO of Highland Cellular, was the living in the DC area and commut- They’re living on the east bay in Group LLC. We anticipate revenues subject of a recent profile on the ing to Sydney which I believe Northern California. David’s at Peo- just over $300K this year with a company in the Register-Herald would be the longest commute of plesoft (david_petroni@peoplesoft. total project value of just under one (September 27). Highland Cellular anyone in our class. He’s working com) in business development. million dollars—a nice start for is a local provider of Cellular One for AstroVision Australia Limited— Liz Coustan Rabinowitz our new company. We do mostly residential wireless service in a satellite imaging company pro- ([email protected]) and kitchens, baths and small additions. Southern West Virginia and South- viding live video of the Earth for Ben Rabinowitz announce the We also do some older home western Virginia. the Asia-Pacific region. According to Shubber, the new gig satisfies birth of their son, Aden, who was restoration—a favorite of mine.” born in June 2003. He joins big his two passions, space and start- Rick is now a senior manager at sister, Maya, who is 4. ’93 ups. www.astrovisionaustralia.com BearingPoint (formerly KPMG). He After a long gap I heard from seems to be hitting his stride there Class Agent: Jordan O’Neill Holly Fulghum Tisdale Laura Rousselot Rodman. She and is now responsible for much of [email protected] ([email protected]) and husband Andrew Tisdale announce the birth and Rick (MBA’96) are still in the Commerce Department account. Nearly 40 percent of the MBA of Ava Eliot born May 6, 2003. She Georgetown and loving life in the Laura’s email is laura.rodman@ Class of 1993 attended the 10 year joins brother William DeWitt, age city. She writes: “We were blessed verizon.net. reunion this past spring. Taylor T. with the birth of our son William in
McDonough Business 37 alumninotes classmates Steve Genn and Scott Grant Pickering and his wife Kristi Shore during bi-monthly poker had their second child in January mba games. 2003, a baby girl, named Claire. She joins their son, Benjamin, who Ana Vanazuela just got an article Ed Greenfield (edgreenfield@ software solutions from Manugistics was born in 2000. Grant was accepted for publication at Journal yahoo.com) is no longer single! He to high tech companies, Sarah recently promoted to Senior Vice of Marketing Research titled “Per- married Tiffany Reeder in her par- Saunders got off the corporate President of Operations for Den- formance of Store Brands: A Cross- ents’ backyard in her hometown in treadmill and started her own mar- dreon Corporation, where he runs Country Analysis of Consumer Maine in August 2003. They cur- keting and sales consulting busi- the clinical, marketing and project Store Brand Preferences Percep- rently live in Lake Tahoe, Calif. ness, Saunders Insights LLC. She management sides of the business. tions, and Risk.” Coauthors are Mattias Graff was in the wedding. focuses mostly on the private high The company’s first product, tech sector (clients include Cisco Tulin Erdem (UC Berkeley) and Ying John T. Jacobs is now working Provenge, an immunotherapeutic Systems, Manugistics, Vastera, and Zhao (HKUST). with the United Nations in Geneva, for late-stage prostate cancer, is Descartes), which probably makes Switzerland, as head of Marketing Diana Wisler Beckmann is work- slated to be on the market in 2005. hers one of the few businesses in & Business Development for the ing at the National Park Founda- the Washington, D.C. area these Karri Ludwick is working as the UN agency for Telecommunica- tion in Washington, D.C., with days that isn’t trying to sell to the Director of Sales Compensation at tions, the ITU. John and Amy are Kodak, a Proud Partner of Amer- federal government. AT&T in Bedminster, N.J. proud to announce the birth of ica’s National Parks. She travels to their second child, Emma, born She and her husband and live in a number of National Parks all Andrea Alexander has moved to August 2002. Their first child, Northern Virginia, not far from around the country each year. She New York City. She is now working Owen, was born in October 2000. Tysons, and can be reached at and her husband, Paul, had a son at Pfizer on the Celebrex team. on September 21, 2002 named [email protected]. Robin Young and her family have Peter Charles Beckmann. He is built moved to Costa Rica. She is still Scott Shore and wife Mari Lu like a Sherman tank! He has red with Development Alternatives Inc. ’95 became parents again on August hair and blue eyes and loves his sis- Class Agents: Scott Shore and Robin, Carlos and Nicolas are hop- 14, 2003. Victoria Jean was born ter Bridget. She has her Mom’s Alison Daly Van Dyke ing for (and expecting) more visi- at Sibley Hospital in Washington, attitude and apparently knows [email protected] tors at their new home. D.C. Both Mom and baby are everything. [email protected] recovering nicely. Alexandra, has Keri Tuwiner (MBA/MPP) married George Serpa wrote in from the Steve Oakley has worked for taken on her role of Big Sister well. Mike Schoenbrun on May 31. Keri third year of his sailing sabbatical: O’Neill, Inc. (the surf company) for Every 40 minutes she reaches down is working at the Corporate Execu- “My latest adventure was an almost seven years now and is to give Victoria a welcome kiss. tive Board in Manhattan. Atlantic crossing which was finished enjoying living in Santa Cruz, Calif. On the professional side, Scott left in the Spring of 2003. This was fully John and Whitney (Lucas) (and Monterey for about 1 year). IBM (formerly PwC Consulting) reported on www.sportvela.com. Rosenberg had a baby girl on July Steve started with O’Neill as the after four years. He has gone back But the good life is coming to an 21. Hadley Chance Rosenberg is production forecasting manager into the Active Component of the end very soon. This summer, the doing well. and has since held positions in U.S. Army. The reasons for the move family will move from Rome, Italy sales management (Europe and were patriotic as well as professional —where they have been for the Canada), corporate strategy, and and personal. The first assignment last 21/2 years—back to NYC. This finance. He is now currently is at the Pentagon, serving as a ’98 means having to go back to the responsible for the financial opera- Class Agent: Brian Knox “Personnel Support Officer” look- work. The family is doing great. tions of O’Neill’s subsidiaries in [email protected] ing at how the Army’s force struc- Lucy, a true Manhattanite, is look- Europe and Australia, and also gets ture impacts personnel issues. ing very much forward to going Ana (Martinez) and Fredrik involved in other matters such as Scott and family are still in Wash- back to NYC. Ben is now 11 years Malmqvist had a baby girl, licensing and retail. The travel has ington, D.C. for the time being. old, and Filipa, a GUMBA baby you Isabella Lourdes, on July 31, 2003 been a big plus being affiliated in Baltimore, Md. Ana writes that Vicky and Eli Faskha had their may recall, is now 8. Both of them with a recognized global brand. she is still with P&G and will be on daughter Shelly Faskha on August seem to be taking well the fact Jack O’Neill is the founder and is a maternity leave until February 23. She is their first child. They still that soon they will be back in the true inspiration to the workers. He 2004. In the meantime, she is live in Panama and are thrilled States (although both of them invented the wetsuit in 1952 and enjoying every sleepless minute of about the addition to their family. loved Rome).” started the company a few years motherhood. later; he is the perfect example of Eli is still running his internet secu- what you can achieve when you rity company in Panama. Fredrik is still with Accenture, based in Reston, Va., and will be are passionate about your work (he Bruce Dincin and wife, Beth, ’97 Class Agent: Andrea Alexander on a project locally. This is great invented the wetsuit not to make became first time parents on [email protected] since he is typically out of town money but so he and his friends March 21. Their son Jacob Aubrey during the week on projects. It lit- could simply surf longer in the Dincin was born on the first day of Adlai Harden III (MBA/JD) has erally takes two MBAs to take care chilly San Francisco waters). Spring in 2003. Bruce is working at returned to the states after spend- of Isabella! After three whirlwind years in the American Express and when not ing time in Asia. He is now practic- enterprise software business making AmEx money, he can be ing bankruptcy law in New York Ana also reports that Yasemin (1998–2001) selling supply chain found taking money from fellow with Skadden Arps. Yucelik (MBA/SFS ‘99) had a baby boy, Tanner Theodore, on July 14.
38 McDonough Business mba iemba Going Home ’01 Robert Getzoff rang the opening bell at the New York Stock When he spoke with Exchange on Sept. 15, 2003 with McDonough Business, U.S. Representative Rahm Emanuel ’96 Class Agent: Thomas (Ill.). Getzoff is the Legislative Hadi Bahrani (MBA’03) Arnsperger Counsel for Emanuel and works was packing for a journey [email protected] on finance committee projects. on a C-130 aircraft that would take him from Washington, D.C., J. Gilberts in Mclean, Va., was the to Kuwait and finally to Baghdad. His ultimate destination is meeting place for a small group of the Republican Palace of former Iraqi president Saddam Hus- IEMBA I and II alumni. Recent new- sein, where his new employer, Bechtel, has established the lywed, Terrell Mellen McDermid, headquarters of its Iraq Infrastructure Reconstruction Project. who has joined the prestigious Sotheby’s residential real estate in Bahrani, a dual Iraqi-American citizen, aggressively pursued a DC, stopped in. Thom Arnsperger job as a project manager on the company’s emergency infra- who has been enjoying the chal- structure repair and rehabilitation contract with the U.S. Robert D. Getzoff (MBA’01), lenges of being part of a new Agency for International Development after attending Bechtel’s former NYSE chairman and CEO strategic IT consulting practice at May conference on subcontracting and purchasing tendering Richard A. Grasso, Congressman DigitalNet (formally Gentronics & Rahm Emmanuel, and Andy Blocker processes and requirements in Washington, D.C. Wang/Honeywell Federal Systems) (IEMBA’02) at the Opening Bell in Herndon, Va., visited. Bill Harri- on September 15. But Bahrani’s journey really began in the early ‘90s when, dur- son, EXIM Bank, kept the group ing the Gulf War, he left Saddam Hussein’s Iraq and eventually entertained with stories from his international travels and the world moved to the United States to join relatives in Texas. He of global project finance. Susan earned his bachelor’s degree in chemical engineering from the McVay, Marriott International, University of Houston, and worked as an engineer at Honey- shared stories about her systems well before coming to Georgetown to pursue his MBA. The role of measuring guest satisfac- confluence of circumstances and world events that led him tion for the lodging giant. And, back to Iraq is a source of amazement for Bahrani, who says he Marie Royce, visiting and teaching on the West Coast, has been never thought it would happen. His homecoming is filled with working on setting up a tourism hope and anxiety. “The risks are high,” Bahrani said. ”But so are program in Russia for The Collins Julia L. Brys (MBA’03) addressed the rewards. One day I can tell my kids that I gave back to my first-year MBA students in the first School of Hospitality Management country. This is my time to do something big.” Integrative on August 22, which at Cal Poly. She was joined by her focused on Fedex in a live case. husband Ed. Brys also participated as a judge in Mark Bloom reports from his the Fedex case competition. offices in New York, that this sum- school sweetheart, Sanjeev. She mer has been all work and no play left the world of management (only played 12 holes of golf all ’99 summer). He is in the process of consulting at AMS in Fairfax, Va. Class Agent: Mike Pastore delivering a complete overhaul of [email protected] and has found herself in the non- profit, entertainment arena. JP Morgan Chase’s retail branch In September 2002, Derek teller systems to all of its branches Baumer left his M&A consulting She is currently Director of Devel- in the Northeast and Texas. He job at PricewaterhouseCoopers to opment for the Indian Film Festival reports that although he survived learn Japanese and make a differ- of Los Angeles (www.indianfilm- the blackout it was, as you can ence in the world. He’s now an festival.org), a nonprofit dedicated imagine, pretty bad from a personal Brooks A. Robertson (MBA’03), to enhancing the awareness of point of view and from a banking English teacher with the JET Pro- second-year MBA Mark A. Daven- Indian Arts and Culture in Los gramme and in a state of perpet- port, Michael J. Galetto (MBA’03), perspective it was even worse and Angeles. Their first year was a ual bliss…as he engages, and second-year MBA Aarti Malik that it will take several more weeks entertains and educates more than phenomenal success with more gather for a Georgetown MBA to recover. Mark says hi to all Is. 800 kids in his quiet Japanese than 6,000 attendees and several happy hour in San Francisco in July. Ben Cass is still working at Siebel’s town. distribution deals being sealed for the talented independent filmmak- Life Science Global Competency in Smrithi T. Prabhu now calls Los ers. Smrithi is responsible for all Pennsylvania and also checked in Angeles her home. She moved fundraising as well as developing to say hi to all IEMBA Is. there two and a half years ago key relationships in the entertain- after getting married to her high ment arena in India and the U.S. She’s loving it.
McDonough Business 39 alumninotes iemba
Chip Christian is back in Harrison- civilian leaders through teaching, her manager’s level. She hopes to burg, Va. having accepted a posi- research, and outreach in national balance the new position with her tion with Dynamic Aviation, a ’99 security strategy, national military and her husband Ali’s family life Class Agent: Alphonse Iudicello supplier of aerial platforms strategy, and national resource which is focused around their two [email protected] throughout the world. The company strategy; joint and multinational children—Aliana, who is starting provides aircraft and crews to sup- operations; information strategies, first grade, and Milena, who is port a variety of highly specialized operations, and resource manage- making her first steps. missions including Airborne Data ’00 ment; acquisition; and regional E-mail update: Acquisition, Fire Management, Aer- Class Agent: Dan Gallagher defense and security studies. The Elizabeth Aguirre: ial Application, and Sterile Insect [email protected] university is located at Ft. McNair [email protected] Technique. Chip is the company’s Charles Santangelo moderated in Washington, D.C. Chris feels Vice President Human Resources a discussion on international per- that since he’ll be getting paid by and Administration and guides the spectives on Iraq Reconstruction the Army to go to this school com- human resource activities of the before 500 top U.S. and foreign bined with the fact it will be his ’02 Class Agent: John Fitzgerald company where he administers business executives on July 1, 2003, full time job makes it much less [email protected] and directs employee benefit pro- as part of Equity International’s daunting than the IEMBA program. grams and is responsible for all second Iraqi Reconstruction Con- Tatiana Koleva has been pro- personnel policies and issues. ference. Santangelo is president of moted to Area Operations Director, Ron and Susan Pippin are very The Santangelo Group and assis- Eastern Region for Pitney Bowes in pleased to announce they have tant professor of international busi- a recent company reorganization. Corrections: ness at the American University. added another boy to their clan. Pitney Bowes is a global leader in We incorrectly identified Emily Chen Carter Anthony Pippin was born the mail and document manage- Carrera and John Agwunobi in the on April 16, 2003. Ron says: ment industry with a full range of spring/summer 2003 issue “Susan is amazing, she worked out ’01 innovative products and services of of Georgetown Business. Carrera daily right up until the last week, Class Agent: Bob Wagoner integrated solutions that cut costs, graduated from the McDonough so she came through like a trooper [email protected] streamline operations, uncover rev- School of Business in 1988, not 1998, —insisted on checking out the day enue opportunities, and add maxi- and Agwunobi graduated from the after Carter arrived. Carter is a Chris King returns to the aca- mum value to customers’ mail and IEMBA program in 2000, not 2001. We apologize for the errors. thriving happy little guy. He is very demic life after deciding to accept document processes. Tatiana interested in his world, likes to be an appointment to Senior Service reports her new position has moved around a lot, and loves College at National Defense Uni- increased decision-making author- attention from big brothers Alexan- versity. NDU educates military and ity that was previously handled at der and Spencer.” Ron confesses that he and Susan are enjoying the high points of their last time through this amazing process— In Memoriam but, three is enough, he is drafting Joseph Eugene Beh the final two players for his basket- ball squad. 1917–2003 eorgetown University Regent Emeritus Joseph E. Beh (F’41) died on Aug. 15, 2003. He was 85. GBeh was a veteran of the U.S. Army Air Corps, a prominent business man, and active in civic ’97 affairs in Atherton, Calif., where he lived for more than 50 years. A native of Iowa, he graduated Class Agent: Lynn Miller from Georgetown University in 1941. He was a member of the Georgetown Alumni Council and was [email protected] an emeritus member of the McDonough School Board of Advisors. He was elected to the university’s Board of Regents and served for six years. He received the John Carroll Award in 1983 in recognition Sally Buzbee has been appointed of his lifetime achievement and service to the university. A dormitory in the university’s Alumni Square assistant chief of bureau for news bears Beh’s name. in Washington, D.C., at the Asso- ciated Press. Washington is the Beh is survived by his wife, Allanah Cleary Beh of Atherton, Calif., and Nova Scotia; and his sister, Mary AP’s largest bureau. See profile Louise Beh of Menlo Park, Calif. on page 14. A Eucharistic Liturgy was held at the Church of the Nativity in Menlo Park on August 20, at which the Most Reverend William J. Levada, Archbishop of San Francisco, presided. The principle concelebrant ’98 was the Reverend Charles Beirne, S.J., president of Lemoyne College in Syracuse, N.Y., and former asso- Class Agent: Debbie Weil ciate dean of Georgetown University’s School of Business. Among the eulogists was James A. Donahue, [email protected] president of the Graduate Theological Union and former dean of students at Georgetown University.
40 McDonough Business Bellwether one who leads or initiates
John J. Fauth, IV
ohn J. “Hap” Fauth (B’67) never watches anything happen. He makes things happen. “I’m a change Jagent,” he says. That holds true both in his professional life and in his connection to Georgetown University. As chairman, president, and CEO of the Churchill Companies, the business he founded more than 20 years Jessica Botta ago, he buys companies that have gone Career highlights: A Long Island, N.Y., native, How he got his nickname: As his mother astray and gives them a second chance. Fauth joined Citicorp’s offices in New York in tells it, on his second birthday, Fauth dubbed him- 1967, just after graduating from Georgetown. In self “Happy,” a pet name that stuck with him And as a longtime volunteer for George- 1976, he moved to Minneapolis to open the com- through high school and college. When he started town (he spends about four days a month pany’s new Midwest regional office. He left Citi- working at Citicorp, he needed a more mature corp in 1981 to start the Churchill Companies, a moniker, but his given name, John, just didn’t on campus), he’s helped his alma mater private investment firm with a diversified portfo- work for him. So, he became “Hap.” raise almost $1 billion in the Third Century lio of investments and operating companies and a private equity fund business. Family: Fauth and his wife, Geren, reside in Campaign, seen the university’s new South- Wayzata, Minn. They have three children: west Quadrangle go from idea to fruition, Education: Georgetown University, B.S. in Busi- Cameron (24), Forrest (22), and Morgan (19), who ness Administration, 1967. is a sophomore at the McDonough School. and contributed $10 million of his own money to the new facility being planned for Alumni activities: McDonough School of Busi- Hobbies: Fauth has raced sailboats from the time ness Board of Advisors (chair); Georgetown Uni- he was 7 years old. He plans to take his new 120-foot the McDonough School of Business. versity Board of Directors (Executive Committee; sailboat, built in Amsterdam, around the world in vice chair, Finance Committee; chair, Director’s segments over the next five years. Other hobbies “I feel Georgetown has almost unlimited Task Force for Capital Enhancement); Third Cen- include skiing and fly-fishing. potential because of its history, its Catholic tury Campaign Steering Committee; McDonough Affiliations: Director, University of St. Thomas, and Jesuit identity, and its location in School of Business Campaign Steering Committee; 1789 Society (donors with $1 million or more of St. Paul, Minn.; former director, Children’s Health- Washington,” he says. “And helping cumulative giving to Georgetown); Alumni care, St. Paul, Minn. Admissions Program. or working through the implementation His view of success: “If you can’t have a good of what Georgetown is going to be next Former alumni activities: Third Century time at what you’re doing, you will never reach your potential. That applies in the worlds of philanthropy is just amazingly exciting to me.” Campaign Planning Committee; chairman, McDo- nough School of Business Board of Visitors; McDo- and business. If you’re not happy giving back, then nough School of Business Graduate Advisory Board; you shouldn’t be doing it. If you’re not happy and president, Minnesota Alumni Club. passionate about your business and the people that are part of that business, you’ll never be optimally successful.” “If you’re not happy and passionate about your business —Eman Quotah Office of Alumni and University Relations and the people that are part of that business, you’ll never be optimally successful.”
McDonough Business c3 Save the Date! June 4, 5 and 6, 2004 Reunions Planned
For more information ’54
Undergraduate Alumni ’59 Allison E. Hamilton Acting Director of Class Advancement ’64 (202) 687-0805 [email protected] ’69
MBA and IEMBA Alumni ’74 Robert P. Johnson Director of MBA & IEMBA Alumni Programs ’79 (202) 687-3738 [email protected] ’84 ’89 ’94 REUNIONS ’99 2004
Georgetown University Non Profit Organization US Postage Old North Building PAID Washington DC Washington DC 20057-1008 Permit 3901