Serving America - Simon Business School - University of ...

Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan ap-pointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and bright-est candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough un-derstanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, dis-cipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military back-grounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has ac-celerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in busi-ness—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excel-lent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military. Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. Over the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates

Simon Graduate School of Business | University of Rochester | Fall 2008Simon Graduate School of Business | University of Rochester | Fall 2008Simon Graduate School of Business | University of Rochester | Fall 2008Simon Graduate School of Business | University of Rochester | Fall 2008

Inside: Simon Unveils New Web Site • Mark Ain Business Plan Competition • Simon Gives Back • Golf Tournament Turns 20

SimonBusinessSimon Graduate School of Business | University of Rochester | Fall 2008

Simon Leaders Serving America

Two recent major gifts from alumni will establish a chaired professorship in finance and need-based scholarships for full-time M.B.A. students at the Simon Graduate School of Business.

A $1.5 million gift from Joseph T. and Janice M. Willett (’75 and ’78 respectively) will enable the School to add a chaired professorship in finance to be held by a Simon

faculty member in finance or managerial economics who has also contributed in significant ways to the School’s teaching and service missions.

Longtime benefactors of the Simon School, the Willetts pre-viously gave $2 million for scholarship support and $1 million for a faculty support fund to enable junior professors to perform more leading research. Joseph Willett is retired C.F.O. of Merrill Lynch and Co., Inc., and retired C.O.O. of Merrill’s European region. Janice Willett is manuscript editor for The Boston Consulting Group. Previously, she served as senior manuscript editor for the Journal of Financial Economics and associate editor of the Journal of Applied Corporate Finance, published by Morgan Stanley.

Janice Willett is a member of the University of Rochester Board of Trustees, and both Willetts are members of the Simon School Executive Advisory Committee. Their donation was funded in part by distributions from their University donor-advised fund. For more on donor-advised funds, contact the University Office of Trusts and Estates at (585) 275-7547.

A $1 million gift from R. Roy Whitney Jr. ’73* for scholarship sup-port will give full-time M.B.A. students need-based financial support while providing real-world business experience. Whitney Scholars will be required to work on a project in the University Office of the Treasurer and to serve as Simon Ambassadors. Whitney is chairman of Hammond, Kennedy, Whitney & Co., a private-capital firm based in New York City. He is a long-time member of the Simon Executive Advisory Committee and has served as chairman of the annual Alumni Fund. He is also a member of the University of Rochester Board of Trustees. (For more on Whitney, see p. 43.)

Both the Willetts and Whitney are mem-bers of the George Eastman Circle (G.E.C.), a distinguished group of donors whose vision and leadership are providing unrestricted financial support throughout the University. Gifts may be designated according to the donor’s wishes. When the G.E.C. was established in 2006, the goal was to have 120 Simon members in the charter phase. That goal has been reached, and so far, members of the Simon com-munity have contributed nearly $4 million. (For more on the G.E.C., see p. 39.)

“These generous gifts from Joe and Janice Willett and Roy Whitney will help us to achieve the goals of our Strategic Plan

for the Simon School,” says Dean Mark Zupan. “Their support and that of their peers is vital as we aim to play at the highest levels among the world’s top business schools.” SB

Simon Alumni Lead the Way in Giving Back

Fall 2008

Simon Unveils New Web Site•

Commencement 2008•

Recent Ranking•

Online Business Simulation•

Simon Faculty and Students Interpret at Wegmans L.P.G.A.•

Simon National Media Coverage•

Case Competitions Display Simon Talent•

“Last Lecture” Honors the Late Simon Professor Michael J. Barclay•

National Business Leaders Speak at Simon•

New Hires/Promotions•

Meliora: Improving the Simon School Course•

Marketing and Communications Awards•

12 Research Leadership HighlightsExecutive Compensation in Nonprofit Organizations•

Taxes and Stock Option Backdating—by Sally Parker•

Simon Faculty News•

During a competition made possible by Simon School alumnus Mark S. Ain ’67, students from across the University, either alone or as part of a team, learn to craft a business plan. —by Kathryn Quinn Thomas

16 Ain Competition

Members of the Simon community volunteer their time to help others in need. —by Sally Parker

18 Simon Gives Back

22 Simon Golf Tournament Turns 20With record participation, the Simon Golf Tournament enters its third decade as a prime alumni networking and fund-raising event.

26 Simon Leaders Serving America—Cover Story

38 Alumni News

Dean’s Corner•

University Establishes New Donor •Recognition Society

Report on Giving Errata•

Alumni Admissions Interviews•

Alumni Gatherings•

Mergers & Acquisitions•

Class Notes•

Alumni Leader Profiles: Ralph R. (Roy) •Whitney, B.S. ’57, M.B.A. ’73*; Joseph Abrams ’74; Chetan Narake ’07; Russell Beyer ’82, Danielle Beyer, B.A. ’05, M.B.A. ’06 and Ross Briggs, B.A. ’05, M.B.A. ’06; Daniel Hofer ’98*

U n i v e r s i t y o f r o c h e s t e r | s i m o n G r a d U a t e s c h o o l o f B U s i n e s s | S i m o nBus iness | 01

The Simon School has a long tradition of accepting students with military backgrounds and outstanding leadership skills. Here is a sampling of students and alumni who are currently enlisted or previously have served in the U.S. military.

*Executive M.B.A. graduate

03 Upfront

02 | S i m o nBus iness | s i m o n G r a d U a t e s c h o o l o f B U s i n e s s | U n i v e r s i t y o f r o c h e s t e r

DeanMark Zupan

Admissions and Financial AidGregory V. MacDonaldExecutive Director of M.B.A. Admissions and Administration

Alumni Relations and DevelopmentJennifer J. PattersonExecutive Director of Simon School Advancement

Career Management CenterPatricia PhillipsExecutive Director of Career Management

Executive M.B.A. ProgramsCarin Conlon ’99*Executive Director of Executive Programs

M.B.A. Administration and External Relations Hollis S. BuddAssociate Dean for M.B.A. Administration and External Relations

Faculty and ResearchRonald W. HansenSenior Associate Dean for Faculty and Research

Finance and OperationsJ. C. Stevens ’98Executive Director of Finance and Operations

Graduate Programs and Ph.D. ProgramRajiv M. Dewan, ’84 M.B.A., ’87 Ph.D.Faculty Director of Graduate Programs; Chairman, Ph.D. Program

Information TechnologiesPatrick S. MillerExecutive Director of Information Technologies

Marketing and CommunicationsDawn S. McWilliamsExecutive Director of Marketing and Communications____________________________________

EditorCharla Stevens Kucko

Contributing WritersSally Parker, Kathryn Quinn Thomas, Joy Underhill

Art Director/DesignerGeri McCormick

Production ManagerJohn M. Robortella

Copy EditorsCeil Goldman, Dawn S. McWilliams

PhotographyAnnette Dragon, John Smillie____________________________________

Simon Alumni News

Contributing WritersKate Gruschow, Claudia Sant’Andrea, Kathryn Quinn Thomas, Joy Underhill

Executive Advisory Committee

J. Peter Simon, Chairman

Joseph Abrams ’74Mark S. Ain ’67John W. Anderson ’80Brian Archibald, M.S. ’94Matthew S. Aroesty ’90Ajay Asija ’96Neil A. Augustine, B.A. ’88, M.B.A. ’89Michael J. Behrman ’92Joseph M. BellJay S. Benet ’76Russell P. Beyer ’82Taj S. Bindra ’86Paul A. Brands ’66Steven P. Brigham ’99*David J. Burns ’78Andrew M. CarterEduardo Centola ’93Kevin P. Collins ’82Donald L. (Skip) Conover ’79*W. Michael Corkran ’77José J. Coronas ’75*Clifford J. Corrall, B.A. ’86, M.B.A. ’87Frank G. Creamer Jr. ’70Carol A. (John) Davidson ’88*John L. (Jack) Davies, B.A. ’72, M.B.A. ’73Harindra de Silva, M.B.A. ’84, M.S. ’85Joseph G. Doody ’75Stephen Down, B.A. ’88, M.B.A. ’95

Christopher T. Dunstan, B.A. ’77, M.B.A. ’81Ronald H. Fielding, M.A. ’73, M.B.A. ’76Barry W. Florescue, B.S. ’66Philip G. Fraher ’93Roger B. Friedlander, B.S. ’56W. Barry Gilbert ’82James S. Gleason ’68*Robert B. Goergen, B.A. ’60Bruce M. Greenwald, B.S. ’68, M.B.A. ’69Mark B. Grier ’80Jeff HansonJoseph HonickRobert O. Hudson ’80*Charles R. Hughes ’70Rene F. Jones ’92Rufus Judson ’06*Vineet Kapur ’99David T. Kearns, B.A. ’52Robert J. Keegan ’72John M. KellyDennis KesslerDavid Khani ’93Ronald B. Knight, B.S. ’61Robert B. KoegelEvans Y. Lam, B.A. ’83, M.B.A. ’84Daniel G. Lazarek ’91Rohtash MalJeff E. Margolis, B.A. ’77, M.B.A. ’78Donna L. Matheson, B.A. ’78, M.B.A. ’79Richard T. Miller ’91Carlos P. Naudon ’74

Robert M. Osieski, B.A. ’77, M.B.A. ’78Sandeep Pahwa ’95Steffen W. Parratt, B.S. ’85, M.S. ’87Warren (Barry) Phelps III ’73James PieresonAdm. Stuart F. Platt, B.S. ’55, M.B.A. ’70David Reh ’67Robert E. Rich Jr. ’69*Efrain Rivera ’89Stephen E. Rogers ’90Michael P. Ryan, B.A. ’81, M.B.A. ’84Albert Salama, B.A. ’73, M.B.A. ’74Richard SandsLeonard Schutzman ’69Joel Seligman (ex officio)George J. Sella Jr.William E. Simon Jr., Esq.Gregg M. SteinbergJoel M. SternMartin Stern, B.A. ’79, M.B.A. ’80Michael C. Stone ’95*Amy Leenhouts Tait ’85*Andrew J. Thomas ’91Jon Van Duyne ’85Sanjay Vatsa ’89Kathy N. Waller, B.A. ’80, M.B.A. ’83Ralph R. Whitney Jr., B.S. ’57, M.B.A. ’73*Janice M. Willett ’78Joseph T. Willett ’75Timothy W. Williams ’86*

SIMONBUSINESS, Vol. 22, No. 1 © 2008. ISSN 1077-5323Published two times per year by the University of Rochester, William E. Simon Graduate School of Business Administration, 2-341 Carol G. Simon Hall, Box 270100, Rochester, New York 14627-0100.

Office of Marketing and Communications: (585) 275-3736 (phone), (585) 275-9331 (fax), [email protected].

Postmaster: Send address changes to the William E. Simon Graduate School of Business Administration, 2-341 Carol G. Simon Hall, Box 270100, University of Rochester, Rochester, New York 14627-0100.

© 2008 William E. Simon Graduate School of Business Administration, University of Rochester


www.simon.rochester.edu

http://www.simon.rochester.edu

mailto:[email protected]


Simon Unveils New Web Site

Upfront

Early this spring, Simon unveiled a newly designed and updated Web site at www.

simon.rochester.edu. The new site features a Flash™ presentation portal, with a focus on three key areas: community, academic rigor and leadership. Photos and biographies of students and alumni rotate for the top spot, along with stories on faculty research. The home page also offers news and events information and a more powerful search engine.

The site was designed by Pittsburgh-based Barkley REI, aided by a team of Simon staff. Barkley REI continues to work on the project,

with plans that include micro sites for faculty and corporate recruiting. In addition, Simon is working on an interactive private social networking

site for alumni, using the existing Simon Exchange platform. The project is expected to be launched this fall. SB

J. Peter Simon, co-chairman of William E. Simon and Sons and chair of the Simon School’s

Executive Advisory Committee, received an honorary Doctor of Laws degree and delivered the Commencement Address at the Simon School’s Commencement ceremonies on June 8, 2008. University of Rochester President Joel Seligman presided over the event, which graduated a total of 318 students.

Simon cofounded the firm with his father, the late William E. Simon, and his brother, Bill Simon Jr. Peter Simon has coupled a successful business career with a deep commitment to public service through philanthropy and involvement in education at the leadership level. He meets with current M.B.A. students, hires and helps graduates find jobs and encourages new recruits to join the program. To help attract the very best candidates to the

Simon School’s M.B.A. program, the Simon Foundation has funded William E. Simon Leadership Fellowships for more than 30 exceptional students over the last three years.

Kathy N. Waller, B.A. ’80, M.B.A. ’83, vice president and chief of internal audit for The Coca-Cola Company, was presented with the Distinguished Alumna Award at the event by Hollis S. Budd, associate dean

for M.B.A. administration and external relations. A member of the University Board of Trustees and the Simon School Executive Advisory Committee, Waller is also an active member of the University’s Multicultural Alumni Advisory Council, a past president of the University’s Atlanta Regional Alumni Council, and a host of numerous events in Atlanta for the Simon School and the University. SB

Commencement 2008

(Pictured from left): Kathy N. Waller, President Joel Seligman, J. Peter Simon, University Board of Trustees Chairman Ed Hajim and Dean Mark Zupan.



Upfront


The Simon School tied for 25th place in an annual survey of U.S. business schools in the April 7, 2008, edition of U.S. News & World Report. The increase in rank by 11 positions, from 36th last year to 25th this year, reflects improvements by Simon in virtually every category making up the overall survey, including: recruiter assessment (up 19 places); average starting salary and bonus (up nine places); undergraduate G.P.A. (up three places); students employed three months after graduation (up three places); and students employed at graduation (up two places).

“While rankings tend to fluctuate based on the data, we recognize their significance,” says Dean Mark Zupan. “Our strategy remains to play at the highest levels in graduate business education.” SB

Recent Ranking

Simon held its third annual Online Business Simulation scholarship award competition last fall. Contestants competing for full- and partial-tuition scholarships devised strategies and solutions to solve a series of six key business decisions. The simulation, established to attract high-quality applicants to the Simon School, was again administered by Innovative Learning Solutions Inc. Pictured are finalists and winners of the final round presented at Simon in January 2008. (Bottom row, from left): Carlos Catanach, Cantia Catalin and Vasily Safin; (middle row, from left): Nikola Vukovic, Brian Clancy, Michael Sung and David Kotar; (top row, from left): Ruiting Liang, Oscar Vazquez Grajales, Steven Pepe, Christopher Tytler and Doug Bennett. One full-tuition and six partial-tuition scholarships were awarded. Pepe received the full-tuition award. SB

Online Business Simulation

Simon Faculty and Students Interpret at Wegmans L.P.G.A.The Simon School was once again well represented at this year’s Ladies Professional Golf Association (L.P.G.A.)tournament, sponsored by Wegmans and held at Locust Hill Country Club June 19–22, 2008.

More than 25 Simon students in the School’s English Language and U.S. Culture (E.L.U.S.C.) program, led by Ellen Zuroski, program director, served as native interpreters for the international golfers on the tour. On Wednesday, June 18, 2008, the Simon colors could be seen on the fairways and greens with the best women golfers in the world during Pro-Am play.

Minjae Song (pictured at left, standing second from left), assistant professor of marketing, interpreted for the winner, tournament champion Eun-Hee Ji of South Korea. Song was featured in national and local news coverage, including ESPN2. Chilean student Fabian Gonzalez Candia accompanied golfer Lorena Ochoa’s


threesome. Ochoa is ranked among the top five women golfers in the world and is one of Time magazine’s top 100 World’s Most Influential People. (When Ochoa’s caddy saw Gonzalez Candia’s Simon shirt, the true bond was discovered: He was also a Simon alumnus!)

Simon student Tamiko Asima was paired with Japanese superstar golfer Ai Miyazato—who has had such a great experience with our interpreters in years past that she specifically requested a Simon student to accompany her—and we had a number of Korean Simon students accompanying South Korean golfers.

According to L.P.G.A. Tournament Director Linda Hampton, the Simon School native interpreters helped the professional golfers on the tour feel at home in Rochester. SB

Sarah Plasky ’99* (pictured above, at right) director of digital and innovation marketing at Xerox Global Services and co-chair of the Simon Alumni Council, received the 2008 Susan B. Anthony Promise Award at the L.P.G.A. Conversation with Champions luncheon during the Pro-Am on June 18, 2008. The annual award celebrates a leading Rochester woman and Simon School alumna whose “career, energy, and wisdom” promise to help realize women’s growth.

“At Xerox, Sarah leads a team dedicated to driving digital marketing techniques,” said Hollis Budd, associate dean for M.B.A. administration and external relations, who presented the award with Nora Bredes (pictured above, at left), director of the University’s Susan B. Anthony Center for Women’s Leadership. “Sarah is truly a woman of promise and a trailblazer in the spirit of Susan B. Anthony,” Budd noted.


Simon National Media CoverageThe following gives capsule descriptions of recent national media coverage of the Simon Graduate School of Business. Visit www.simon.rochester.edu for more Simon news.

“Internet Gives M.B.A. Schools Global Reach,” May 20, 2008, features Hans Tan, a 25-year-old Filipino student at the Simon School who fielded a question on a Web site from a woman in Switzerland seeking an insider’s take on the quality of professors at the School.

“From the Battlefield to B-School,” March 14, 2008, presents Will Reynolds, Simon School student and injured Iraq War veteran, in a magazine feature story about the increase of military M.B.A. candidates at the nation’s business schools (For more on Reynolds, see p. 35).

“Graduation Talks Accentuate the Positive,” April 14, 2008, features quotes from Hollis Budd, associate dean for M.B.A. administration and external relations, and 2008 Commencement speaker and honorary degree recipient J. Peter Simon.

“Korea Should Foster International Finance Experts to Become a Financial Hub in Asia,” May 1, 2008, featuring Ronald W. Hansen, senior associate dean for faculty and research, on the importance of having financial experts in helping Korea become a financial hub in the Far Eastern region, and introducing Simon’s dual degree program with KAIST University as a way of educating those experts. SB

“Hot Tips for a Graduate Degree in Business,” March 26, 2008, states that the Simon School actively seeks Early Leaders™ or students with zero to three years of work experience to get their M.B.A. degrees.


Upfront

Case Competitions Display Simon Talent


F.A.Ct. Case Competition

The third annual Frame, Analyze, Communicate (F.A.Ct.) First-Year Case Competition, held on May 23, 2008, focused on a Harvard Business case about TiVo. The winning team included these Simon students: (pictured above, from left): Yogley Paredes ’09, Zhihao Yao ’09, Will Reynolds ’11, Ankur Kohli ’09, Adam Echter ’09 and Takeshi Tanaka ’09.

Simon Marketing Case CompetitionM.B.A. students from many of the nation’s top business schools demonstrated their marketing skills by working on a business issue facing household, health and personal care company Reckitt Benckiser during the 16th annual Simon School Marketing Case Competition March 28–29, 2008.

A group of Simon School marketing students organized the case competition, which was sponsored by Reckitt Benckiser. The

business schools represented included Emory University (Goizueta Business School), Georgia Institute of Technology, Indiana University (Kelley School of Business), Michigan State University (Eli Broad College of Business), New York University (Leonard N. Stern School of Business), Purdue University (Krannert School of Management), Thunderbird School of Global Management, the University of Chicago Graduate School of Business, and the University of Maryland (Robert H. Smith School of Business).

Unique to this competition was the team design. Students from the same schools traveled to Rochester together, but once they arrived they were integrated into teams of six. These aspiring marketing professionals received a case packet on Saturday morning that described the current situation with Reckitt Benckiser’s Frank’s® RedHot® brand. Each team then had four hours to analyze the data, create a winning marketing plan and present that plan to a panel of judges from Reckitt Benckiser. The top three winning teams shared $8,000.

This is the first year that Reckitt Benckiser has been the main sponsor for the Marketing Case Competition. Past sponsors have included Heineken USA and Fisher-Price.

Early Leaders™ Case CompetitionThe Simon School’s Office of Admissions hosted the Second Annual Early Leaders Case Competition on Friday, November 9, and Saturday, November 10. The 50 undergraduate participants, hailing from 13 different colleges and a variety of majors, met their assigned teammates for the first time and immediately began working on a review and analysis of the assigned case—IKEA’s expansion into the U.S. market.

Each team had approximately 24 hours to analyze the case, suggest recommendations for IKEA and prepare a 15-minute PowerPoint® presentation to a panel of judges. The $15,000 prize money was distributed among the top five teams.

During the awards dinner Saturday night, the winners were announced, with first place and $7,000 going to a team consisting of: (pictured above, from left): Michael Bauer, University of Rochester; Christelle Domercant, the University of Rochester; Keith Povitch, SUNY Brockport; Jalpa Bhavsar, Boston University; and Raphaela Sapire, Barnard College. SB

Students analyze their case during the S.M.A. Case Competition.


A “Last Lecture” in memory of late Simon School professor Michael J. Barclay took place on April 9, 2008. Speakers included Laura Thurner (pictured above, at left), Professor

Barclay’s widow; Gregg A. Jarrell (pictured above, at right), professor of finance and economics at the Simon School and a colleague of Professor Barclay’s from Forensic Economics; Frank Torchio ’82, adjunct lecturer in finance and economics at Simon and a colleague at Forensic Economics; and Katy Allen, a fellow aviator and friend who is a Ph.D. candidate at the Margaret Warner School of Education at the

University of Rochester. Professor Barclay—along with his longtime friend and fellow aviator David Finger—died in a seaplane crash on August 16, 2007 in Penfield, N.Y., near Irondequoit Bay.

“The Simon School lost a star, but those of us who were his flying friends lost our buddy,” said Allen. “Those of us who flew with Mike had no idea how bright he was. He was truly humble about his success.”

“Mike was a person who clearly always followed his own internal standards,” said Jarrell. “He had this inner judge inside of him that he

would work to satisfy. There was this sense of duty that had nothing to do with what other people thought. That’s extremely rare.”

“If Mike were here, he would say that happiness is not found on the path to riches, but that riches might be found on the path to happiness,” Thurner said. “For Mike, life was not about the pursuit of money; it was more about the enjoyment of his work. Flying brought him peace and great joy. He was a very happy and contented man. He didn’t need the praise of others to make him content. I don’t think a better lesson could be learned from his life.”

The “Last Lecture” idea came from Randy Pausch, the late computer science professor at Carnegie Mellon University who recently died of cancer. Pausch delivered his own “Last Lecture” at C.M.U. in September 2007. It has become an Internet sensation and best-selling book, and universities around the country are featuring “Last Lectures” by faculty members who speak as though it were the last lecture they will ever give. The “Last Lecture” series is sponsored by the Simon School’s student-run Graduate Business Council. SB

“Last Lecture” Honors the Late Simon Professor Michael J. Barclay

Barclay Honored During Commencement WeekendThe Simon School Full-Time and Executive M.B.A. Classes of 2008 presented the Class Gift of two benches and a tree planted outside of James S. Gleason Hall in memory of Professor Barclay. “This gift is a fitting remembrance and a sign of welcome to all who enter the Simon School’s three-building enclave here on the University’s River Campus,” said Dean Mark Zupan. The Class Gift presentation was made during the Dean’s Picnic on June 7, 2008, and members of Professor Barclay’s family, including his widow, Laura Thurner, and his mother and family were on campus to attend the presentation.

The next day at Commencement ceremonies, Simon School Senior Associate Dean Ronald W. Hansen gave a tribute to Professor Barclay, concluding with the following presentation: “Mike held the Alumni Professorship of Business Administration,” Hansen said. “On May 16, 2008, the University of Rochester Board of Trustees unanimously approved ‘That the Alumni Professorship in the William E. Simon Graduate School of Business Administration be renamed the Alumni Professorship in Honor of Michael J. Barclay.’ ” Laura Thurner accepted the certificate commemorating the establishment of the Michael J. Barclay Alumni Professorship. SB

Members of the Barclay family gather with Senior Associate Dean Ron Hansen (at left) and Dean Zupan (center) after the Class Gift presentation.

Michael J. Barclay 1957–2007

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Upfront

National Business Leaders Speak at Simon


The Simon School hosted another impressive group of national executives this past winter and spring to speak to students about their careers and current challenges. The speakers included:

Marshall Goldsmith delivered the second Sands Leadership Lecture on May 21, 2008. Goldsmith, The New York Times bestselling author of several books on leadership, is a faculty member in executive education at Dartmouth College’s Tuck School of Business, a professor at Alliant International University and a fellow of the National Academy of Human Resources—America’s top HR honor. BusinessWeek calls him “one of the most influential practitioners in the history of leadership development.” The Sands Leadership Lecture was made possible by a generous grant from the Sands family.

Peter Cuneo, former C.E.O. and current vice chairman of Marvel Entertainment Inc., delivered a lecture, “Marvel—Evolution of a Super Brand,” focusing on the company turnaround from near-death in 1999 to the brand powerhouse it is today. To the delight of the audience, he also showed movie trailers for “The Incredible Hulk” and “Iron Man.” Later in the day, Cuneo spoke to a gathering at the Rochester River-side Convention Center, sponsored by the Rochester chapter of the American Marketing Association and organized by President Dawn S. McWilliams, Simon School executive director of marketing and communications.

Ronald H. Fielding ’76, senior vice president at OppenheimerFunds, where he supervises $13 billion in assets, spoke to students on May 7, 2008. Active in the investment markets for more than 25 years, Fielding is a nationally recognized expert in municipal bond funds. He was president and founder of three Rochester Funds, which he sold to OppenheimerFunds in 1996 and continues to manage.

Joe Abrams ’74, entrepreneur and co-founder of Intermix, the parent company of MySpace, talked about being an entrepreneur and the advent of new media on May 1, 2008. His lecture was cosponsored by the Simon Entrepreneurs Club.

Craig Merrigan ’91, vice president, global consumer mar-keting for Lenovo, discussed his current responsibilities at the global technology services firm on April 15, 2008. Merrigan’s lecture was cosponsored by the Simon Brand Management lecture series and the Simon Marketing Association.


Jonathan Judge, president and C.E.O. of Paychex Inc., spoke to Simon students on April 2, 2008. Judge assumed the role of president and chief executive officer of Paychex Inc. on October 1, 2004, succeeding the company’s founder, B. Thomas Golisano, who started Paychex in 1971. Paychex, headquartered in Rochester, N.Y., is a leading national provider of payroll, human resource, and benefits solutions for small- and medium-sized busi-nesses. Judge previously served as president and chief executive officer of Crystal Decisions Inc., a leading manufacturer of management software, headquartered in Palo Alto, Calif. He is also a 25-year veteran of I.B.M. Corpora-tion. Judge’s lecture was cosponsored by the Simon Financial Management Association.

David Rusin, founder and C.E.O. of American Fiber Systems, discussed his experience starting a major national fiber optic cable company, as well as his previous position as president of Frontier Communications, on January 22, 2008, during his lecture, “Entrepreneurship and the State of the Telecom Market.” Rusin’s lecture was cosponsored by the Simon Entrepreneurs Club.

John Shiely, president and C.E.O. of Briggs & Stratton Cor-poration, headquartered in Milwaukee, Wisc., delivered a lecture on March 26, 2008, about his career at and leader-ship of the world’s largest producer of air-cooled gasoline engines for outdoor power equipment. Shiely’s lecture was sponsored by the Simon Consulting Group and the Opera-tions Management and Technology Association.

Dale Skivington, assistant general counsel and vice president, legal department at Eastman Kodak Company, talked about her career on January 29, 2008. Previously, she served as Kodak’s chief privacy officer, with worldwide responsibility for company policies relating to consumer, employee and supplier privacy. Skivington is currently the director of the interna-tional and employment law legal staffs at Kodak. Prior to joining the company, she was in private practice handling civil rights and personal injury cases, and an assistant attorney general for the State of New York.

Robert Litan, vice president of research and policy at the Ewing Marion Kauffman Foundation and a senior fellow at the Brookings Institution, gave the keynote lecture, “Good Capitalism, Bad Capitalism,” during the University of Rochester Center for Entrepreneurship conference, cosponsored by the Simon School. Litan was introduced by Simon School Dean Mark Zupan.

Robert Sands, president and C.E.O. of Constellation Brands, spoke to students on January 23, 2008. He

joined the company in 1986—a company his father, Marvin Sands, founded—and was named president and C.E.O. in July 2007. Previously, he served as presi-dent and C.E.O. with responsibility for Canandaigua

Wine Company and the U.K. division of Constellation Brands. The lecture was cosponsored by the student

club, Simon UNcorked.

Upfront


New Hires/PromotionsCrisandra (Crissi) Harrison has joined the Simon School admissions team in the role of alumni interviewing coordinator and prospect manager. Her experience in higher education includes work as an admissions counselor at the University of Maryland, Baltimore County Training Center, where she managed recruiting in six program areas, including business and professional development and information technology. At Simon, Harrison oversees the School’s on-campus and off-campus alumni interviewing program, as the School seeks to expand the volume of applicant interviews that are completed by a Simon School alumnus. She will also lead the efforts to increase and focus the School’s outreach to prospective candidates to encourage their application to Simon. Harrison earned her undergraduate degree from the University of Maryland, Baltimore County.

Nina Oakes is the multimedia marketing specialist in the Office of Marketing and Communications at Simon. In this new position, she will work extensively on the SharePoint™ platform to design and maintain content for multiple internal audiences through Simon Exchange, the School’s new private social networking site. She will also support the School in the use of applications and equipment to capture, convert and publish content on the newly revised external

Simon School Web site (www.simon.rochester.edu), and she will work on podcasts and digital video campaigns used to promote awareness of the School. Previously, her work with clients included the University of Rochester athletics department, Faith Temple Church and John Oral Nash Ministries on their Web sites and broadcast content. Oakes holds a B.S. in multimedia communications from Oral Roberts University, and an A.A.S. in visual communications from Monroe Community College.

Susan Palmer is the assistant registrar for reporting and scheduling in the Simon School Registrar’s Office. In this role, she provides degree audits and certifications and transfer credit processing, and maintains and develops the registrar’s Web site. Palmer has been with the University of Rochester since 2002, including positions in the Office of Technology Transfer as the technology transfer assistant and the International Services Office as the office manager and J-1 visa immigration advisor. Previously, she was employed at Eastman Kodak Company for 11 years. Palmer holds an A.A.S. degree in computer information systems from Monroe Community College.

Claudia Sweet ’98* has been appointed director of corporate relations in the Executive Programs Office, with oversight of non-degree executive education.

Simon has provided in-depth executive training to firms including Welch Allyn, Odebrecht, and Nixon Peabody, among several others. Sweet is also a lecturer in Operations Management in the Executive M.B.A. Program. She is an information technology and professional services leader with over 20 years of experience. Previously, at I.B.M., Sweet held a number of leadership roles with the I.B.M. Software group, Systems Group, and I.B.M. Global Services. Prior to that, Sweet was a research analyst on a National Institutes of Health grant for New York State Health Research Inc. In addition to her Simon M.B.A., Sweet holds a B.S. in mathematics and an M.S. in computer science from SUNY Albany. SB

Simon Welcomes New Executive Advisory Committee Members

The Simon School Executive Advisory Committee (E.A.C.) has four new members.

Russell P. Beyer ’82 is vice president, planning and processing, at World Fuels Services Corporation; Stephen Down, ’88 B.A., ’95 M.B.A. is assistant corporate controller at The Martin-Brower Company; David Khani ’93 is director of research at Friedman, Billings, Ramsey & Co.; Rufus Judson ’06* is vice president at The Pike Company; and Robert M. Osieski, B.A. ’77, M.B.A. ’78, is managing director at J. P. Morgan Securities Inc.

The E.A.C. is a group of distinguished leaders from the public and private sectors that helps guide the strategic direction of the Simon School. SB




When Dean Mark Zupan teaches GBA 442—Special Topics in Marketing—he has an ulterior motive: improving the quality and reputation of the Simon School. In his course, students are expected to design a solution to an issue facing the School.

“We all agree our students are the best of the best. So why not put these terrific minds to work on what is dearest to our hearts,” says Zupan. “We have had a number of great ideas come out of this class.”

This year, Zupan was presented with seven proposals, for issues ranging from supporting Early Leaders™, increasing alumni giving, and boosting the Health Science Management curriculum to promoting investment management education.

The seven proposals were whittled down to three as they were presented internally to groups of faculty and staff. In May, students presented the three top projects—as selected by a panel of Simon administrators

and faculty—to the School’s Executive Advisory Committee, who then voted for the best of the bunch.

The winning project, designed by Scott Sweeney ’08 and Jason Hall ’08 looks at the local economy’s loss of M.B.A.’s post graduation. “An overwhelming number of graduates leave the Rochester area after earning their degrees,” the project’s statement says. “This is due to a host of reasons, but one thing is for certain: Approximately 30 percent would elect to stay and work in the Rochester area, but the opportunities for them to do so are limited. As a result, local companies are not capitalizing on the opportunity to employ highly skilled candidates who will add great value to their respective businesses and the Rochester community in the future.”

The duo’s plan has two key points:• Createashiftintherecruiting

strategies of Rochester businesses

by helping them develop formal recruitment programs, using internships as a pipeline for full-time hires and recruiting early in the annual M.B.A. hiring cycle; and

•Targetearly-stagecareercandidatesto return to Rochester, by providing information from the Simon alumni database to help local businesses with their recruiting needs.

“This project addresses an issue that has a profound impact on our students—job availability,” Zupan says. “Our administrators will be meeting with Scott and Jason in the coming months to see how we might implement their ideas.”

Special thanks go to University of Rochester Board members Michael Rosen B.A. ’82, M.B.A. ’83 and Larry Bloch ’75 for their continued generous support of the competition. SB


Meliora:Improving the Simon School Course

Marketing and Communications AwardsProducts of the Simon School’s marketing and communications staff have again earned regional and national recognition for excellence in publications and collateral marketing materials.

The School received a gold award from the Service Industry Advertising Awards

(S.I.A.A.) for its 2006–2008 Simon Management Programs Catalog. This is the first national advertising award competition to specifically recognize creativity and communication accomplishments of the service industry. Simon also earned a silver

award for a newspaper advertising campaign and a merit award for SimonBusiness.

The School won a gold award for its

“First Impressions” brochure in the Twenty-Third Annual Admissions Advertising Awards, sponsored by Admissions Marketing Report. Simon’s student viewbook, “Stand Out,” garnered a silver award in the competition and “Simon Early Leaders™” earned a bronze award. In addition, the School received merit awards for the brochure, Simon Alumni Leading the Way, and SimonBusiness

magazine. Locally, the Public

Relations Society of America Rochester (N.Y.) chapter, gave Simon a PRism Award for “First Impressions” and an Award of Excellence for SimonBusiness.

“We are pleased to be once again nationally and locally recognized for excellence in Simon School publications and marketing materials,” says Dawn S. McWilliams, executive director of marketing and communications. “When we consider the caliber of submissions from the nation’s top universities and other service organizations, this is indeed an honor.” SB

(From left) Dean Mark Zupan, Jason Hall ’08, Scott Sweeney ’08 and J. Peter Simon at Commencement.


Research Leadership Highlights

Recent scandals, such as the problems at United Way and the National Republican Congressional Committee, have brought greater scrutiny of the

governance of nonprofit organizations. So far, however, little research has been conducted on nonprofit governance.

A study by two Simon School professors contributes to an understanding of nonprofit governance by examining the effects of having managers on nonprofit boards—a practice some critics say is bad governance.

The study, by James A. Brickley and Gerard J. Wedig, uses data from hospitals to test whether managerial

representation on nonprofit boards increases the likelihood that C.E.O. salaries will exceed the prevailing market rate. The study concludes that nonprofit C.E.O.’s who have board voting rights earn more than their counterparts who do not have a seat at the table.

It is the first study to address the issue of C.E.O. compensation and board representation in nonprofit firms.

Focusing on nonprofit hospital boards, Brickley and Wedig worked with former Simon faculty member R. Lawrence Van Horn, now at Vanderbilt University. Their paper, “Governance and Executive

Compensation in Nonprofit Organizations: Evidence from Hospitals,” concludes that nonprofit hospital C.E.O.’s with voting rights earn an estimated 7–10 percent more than C.E.O.’s who are not on the board.

The reason: Powerful C.E.O.’s use their influence on the board to obtain such compensation. The size of the excess, however, is small relative to the size of the overall organization, Brickley notes.

“In an ideal world, you would want managers to be paid in a market-based way,” he says. “Some people think you should never put managers on the board of nonprofit organizations. But it’s not a big problem.”

A 10 percent compensation premium relative to the median C.E.O.’s cash compensation of $210,000 translates to $21,000 in excess compensation, the authors write—representing only three one-hundredths of 1 percent of a median hospital’s revenue.

Though C.E.O.’s with voting rights are relatively common in nonprofit organizations, their seat on the board is a source of ongoing debate among economists.

Opponents argue that a C.E.O. with voting rights can wield management power that leads not only to excess compensation but also to other, less visible—but potentially more important—forms of expropriation. These could include organizational investments that satisfy managerial preferences or excess payments to other stakeholders.

Such theories are difficult to test, the authors say.“Direct evidence on this issue is hard to provide

since these alternative forms of expropriation are difficult to observe and measure,” they note. “Indirect evidence, however, can be provided by examining the relation between management voting rights and donations.”

The authors, who researched data revealing the total donations given to hospitals, found that C.E.O. power does not lead to large donor-manager agency problems, even though it does lead to modest amounts of excess compensation.

Indeed, keeping the C.E.O. off a hospital board might not be a great idea, Brickley says: The C.E.O.’s presence can help offset the influence of doctors and other managers, who bring differing interests to the table.

Furthermore, the authors write, “nonprofit laws and regulations are in place that constrain C.E.O. power

Executive Compensation in Nonprofit Organizations

James A. Brickley

Gerard J. Wedig

—by Sally Parker


and prevent organizations from paying their C.E.O.’s significantly more than the market rate, even where managers serve on the board as a voting member.”

“Prominent scandals at the United Way and other nonprofit organizations have generated significant interest in the governance of nonprofits,” says Brickley. “New regulations, such as a Sarbanes-Oxley Act for nonprofits,

are being considered. Nonprofit organizations themselves are working to improve their governance systems.

“Unfortunately, regulations and governance changes are being developed without a good understanding of nonprofit governance. Our study seeks to enhance that understanding.” (Research Paper FR 04-18) SB

Taxes and Stock Option Backdating —by Sally Parker

A Simon School assistant professor of accounting and two co-authors have found a link between the timing of stock option exercises, taxes and the backdating of stock option grants.

Shane Heitzman, with Dan Dhaliwal of the University of Arizona and Merle Erickson at the University of Chicago, presented “Taxes and the Backdating of Stock Option Exercise Dates” at the 2007 Journal of Economics conference.

Their study looked at a large sample of stock option exercises by insiders prior to the Sarbanes-Oxley Act, focusing on those in which the insider held on to all of the acquired shares. Of the roughly 21 days in which the options could have been exercised in a given month, the authors found that nearly 14 percent of these exercise-and-hold transactions by C.E.O.’s happened on the day the firm’s stock price was at its monthly low point—nearly three times more often than if the exercises occurred at random.

“If you’re going to hold shares long term, you have an incentive to exercise when the stock price is low because it lowers the taxes you’ll pay on the exercise,” Heitzman notes.

For example, if you are exercising 25,000 options, a one-dollar decrease in the stock price on the exercise date lowers taxable income by $25,000.

But whether or not an insider can take advantage of those potential tax savings is another matter. Before Sarbanes-Oxley (SOX), executives had up to 10 days after month’s end to report their exercises to the Securities and Exchange Commission. This created a window of time through which an insider could look back and pick the best exercise date after the fact. But after SOX was enacted in August 2002, the S.E.C.’s reporting deadline shrank to two days after the exercise, effectively curtailing the practice.

Heitzman and his co-authors surmised that if backdating did not cause the high concentration of exercise-and-hold transactions on the one day in the month when the price was at its lowest, the pattern should have continued even after the new reporting requirements of SOX went into effect. It did not.

The authors write that the likelihood of exercising

when the stock price is low increases with the potential tax savings. But they found those savings didn’t amount to much: backdating the exercise date reaped an average estimated tax benefit of only $96,000 and a median of a mere $7,000—surprisingly small considering the practice can lead to felony charges of tax evasion and of filing false tax returns under the Internal Revenue Code, Heitzman argues. And when insiders time the exercise to reduce their tax bill, they increase the taxes paid by the corporation. This has a direct effect on shareholders.

Still, C.E.O.’s and other insiders were willing to roll the dice on being caught—“which suggests they thought the likelihood of being busted was very small,” Heitzman says.

In a separate set of exercises in which insiders immediately sold the shares acquired from the exercise, insiders tend to exercise the options and sell the shares when stock price is high, as expected. But the authors found substantially less evidence of backdating with these exercises. There is an obvious explanation: it is extremely difficult to backdate an exercise that is accompanied by an open-market sale of shares executed through a broker.

On the other hand, exercise-and-hold transactions can be handled within the firm, so insiders really need only the cooperation of general counsel. And this was precisely what happened, according to a recent criminal indictment filed by the U.S. Department of Justice.

In a second surprising discovery, the authors found that if the options awarded to insiders were likely to have been backdated at the time they were granted—a trend previous literature has considered—its insiders are more likely to backdate the subsequent exercise. Heitzman believes the study’s findings could help the S.E.C. at a time when it is seeking the best way to allocate its resources. Understanding the link between the dates could help the agency target scarce resources toward investigations more likely to bear fruit, he says. (Research Paper FR 08-01) SB

Shane Heitzman


Simon Faculty NewsSimon faculty members Abraham Seidmann and Gregory Dobson were included in a list of internationally recognized scholars in the field of management science and production and operations management. The paper, by Bin Jiang of the Kellstadt Graduate School of Business at DePaul University, interviewed leading researchers about how emerging faculty members can develop a successful research agenda.

Seidmann is Xerox Professor of Computers and Information Systems and Operations Management and area coordinator of computers and information systems, electronic commerce, management science and operations management. Dobson is associate professor of operations management.

James N. Doyle has retired from the Simon School after 15 years. An executive professor of business administration, he lectured in several areas, including marketing, general management and entrepreneurship.

Doyle’s career ran the gamut from general management to management consulting and education. He was president of Watkins Products Inc. and Sarah Coventry International; a principal in A. T. Kearney International, a management consulting firm; and a co-founder and director of R. A. Schoeneberger & Associates Ltd. In addition to the Simon School, he taught at St. John Fisher College, Alfred University, Richmond College in London, and the Kensington, England, campus of Huron University.

Peter L. Waasdorp, B.S. ’62, M.S. ’69, executive professor of business administration, has retired from the Simon School. Waasdorp researched and taught product marketing and development, quality management, and the link between customer loyalty and shareholder value. He was the area coordinator for the Entrepreneurship concentration.

Before joining the School in 1994, Waasdorp worked for 26 years at Xerox Corporation. He began his career in sales management and went on to hold positions in business planning; product planning, development, and

marketing; manufacturing process re-engineering; and quality/customer satisfaction management. He also was a member of Xerox’s Malcolm Baldrige National Quality Award Team in 1989, the year the firm won the award. Waasdorp has served as a consultant to numerous corporations, including Ameritech, Arthur Andersen L.L.P., and Harris Interactive.

Leonard Kostovetsky has been named assistant professor of finance at the Simon School. Kostovetsky, a finance Ph.D. graduate of Princeton University with research interests in asset pricing, behavioral finance and portfolio theory, received the Towbes Teaching Prize from the Princeton economics department in 2007. Among his recent research is a look at the brain drain of top managerial talent from mutual funds to the growing hedge fund industry. Kostovetsky earned A.B. and M.A. degrees in economics from Princeton.

Edward X. Li has joined the Simon School faculty as assistant professor of accounting. Li earned a Ph.D. in accounting at Michigan State University, where he received a dissertation completion fellowship and a research award. His research interests lie in securities laws and Securities and Exchange Commission regulations, information intermediaries, institutional investors and capital markets; he has teaching interests in financial accounting and financial statement analysis. Li earned a B.S. and M.S. in accounting at Tsinghua University in Beijing, as well as an M.S. in agricultural and consumer economics at the University of Illinois.

Mitchell J. Lovett has been appointed assistant professor of marketing at the Simon School. He has a Ph.D. in business administration from the Fuqua School of Business at Duke University. Lovett’s research interests include marketing management and strategy, high-tech marketing and marketing research/intelligence. Current projects investigate questions such as how changing product quality

Gregory Dobson

James N. Doyle

Peter L. Waasdorp

Leonard Kostovetsky

Edward X. Li

Abraham Seidmann

affects consumer learning, purchase decisions and brand equity. He has published and presented papers on his research and won awards for his graduate school work, including the Sheth Doctoral Consortium Fellow for Duke and the ISBM Research Grant Silver Medal. Lovett earned B.A. degrees in economics, mathematics and German at Ohio Wesleyan University and an M.B.A. at Boise State University.

Susan Feng Lu has joined the Simon School faculty as assistant professor of economics and management. Lu is a graduate of Northwestern University’s Kellogg School of

Management, where she earned a Ph.D. in managerial economics and strategy; she specializes in industrial organization and economics of organization. Lu’s research interests focus on how information problems affect individual behavior and the organization of firms and markets—particularly the structure of industries related to health care. Her teaching interests include econometrics and statistics, health care strategy, business in emerging markets and nonprofit management. She holds a B.A. in economics, a B.A. in international relations, and an M.A. in economics from Beijing University. SB

Mitchell J. Lovett Susan Feng Lu

Shanghai and Beijing, China | March 21–30, 2009

Optional tours Seminars Speakers from academia, government and industry Many packages available

For more information and to register, visit www.simon.rochester.edu/china or contact: [email protected] or [email protected]

Register by October 12, 2008, to be included in this unprecedented opportunity!

http://www.simon.rochester.edu/china




Competition

Maybe it was the free pizza or the expert advice of Adam Bates ’07 or the tantalizing $10,000 prize.

Whatever the draw, Room 103 in Schlegel Hall was jam-packed with more than 100 prospective entrepreneurs hoping to win the 2008 Mark Ain Business Competition, during the first competition workshop in January.

The Ain Competition is a highlight of the Simon Experience. Armed with innovative ideas, students from across the University, either alone or as part of a team, learn to develop a business plan. Over several months, the participants flesh out their ideas—or learn their ideas aren’t as workable as they thought. The goal is to be a member of one of the five finalist teams who will present their plans to a panel of judges, and, they hope, win the $10,000 to help implement their plan.

“The Ain Competition is unique and important because it connects all the schools across the University spectrum,” says Scott Sweeney ’08, president of the Simon Entrepreneurs Club, a student-run organization whose mission is to promote entrepreneurship at the Simon School. “Students learn about the key steps in developing a business model, and have the opportunity to actually apply those steps,” Sweeney notes.

The competition is made possible by support from Simon alumnus and entrepreneur Mark S. Ain ’67, founder of Kronos Incorporated, the Chelmsford, Mass.-based market leader in the workforce management industry. The competition is supported by the Simon Entrepreneurs Club and the University of Rochester Center for Entrepreneurship.

The Simon Entrepreneurs Club, with the help of the Center for Entrepreneurship, offers three workshops, one every six weeks or so, to help the entrants process their plans. The first is an introduction to various models of looking at the value chains involved in a business idea and identifying where and how to capture value. The second looks at the types of research helpful in early-stage planning. The third workshop discusses early-stage financial modeling and sources of financing.

Bates, founder and president of The Friendly Briefs, a Web-based networking venture, led the first workshop. A Simon graduate as well as a respected entrepreneur, Bates brought a hip and humorous tone to his presentation.

“I’m here to teach you how to focus your efforts to get that 10 grand,” he said. “The optimal business model is the one with the highest reward-to-risk ratio.”

One common business plan pitfall is to focus too intently on one model, he said. Instead, entrepreneurs need to develop

Ain—by Kathryn Quinn Thomas

Mark S. Ain ’67 (above right) and Michael E. Jones, B.S. ’76 (above left), both members of the University of Rochester Board of Trustees, listen as students deliver their presentations during the competition.


two or three choices, and then investigate all of them before opting for the best.

Bates discussed basic business plan methodology, such as describing a critical need for the product, developing a hypothesis and then clearly and succinctly articulating the business idea.

The students devoured both Bates’ presentation and the free pizza. Since the competition deadline was still months away, no one voiced any concern about fitting a business plan into their tight study schedule.

Tempus FugitFlip ahead three months to early April: Bates wasn’t there. The last of the three Ain Competition workshops still featured free pizza and the enticing $10,000, but the crowd was narrowed down to only 20 hardy souls. And, although they still munched on pizza, there was little joking around. Schlegel 103 had the somber air of a pre-final study session.

These future entrepreneurs were now officially nervous. The competition’s deadline for business plans was May 2, only a month away. And then the plans would be judged and five teams chosen to present at the competition’s finale on May 14.

“I’ve put a lot of time into this already,” said Marita Greenidge, M.B.A. ’09 candidate. “But I still have a lot to do. It’s a little crazy.”

D is for DeadlineTwo weeks later, in the Eisenberg Rotunda in Schlegel Hall, five teams presented their win-worthy ideas to a panel of judges including Ain; Edward J. Ackley, B.S.

’53, M.S. ’64, owner and president of The Filter Store in Mendon, N.Y., and former C.E.O. of Consler Corporation (now owned by Graver Technologies); and Michael E. Jones, B.S. ’76, C.E.O. and co-founder of Clover Capital Management, and a current University trustee.

Dean Mark Zupan and Duncan T. Moore, University vice provost for entrepreneurship, both spoke to the crowd. Each of the five teams gave a 10-minute presentation and answered the judges’ questions.

The five teams and their ideas were: • Nathan Alves, Mitchele Au, Justin Goldstein and

Jonathan Weber, with Handheld Optical Technologies L.L.C., a new company that focuses on incorporating technology into ocular devices to make them smaller and more accessible to the medical community.

• Erik Monostory, M.S. ’08, head of Renewables Inc., a Delaware corporation that intends to make renewable energy easier for the end user.

• Sharmistha Chaudhuri, Michael Sealander and Steve Song, with Sonospect, which has developed and will commercialize the Hepameter, a medical device for the noninvasive detection and quantitative monitoring of liver fibrosis.

• Carlin Gettliffe and James Cassuto, with Thermal Ventures, producing high-performance ceramic coatings for application in a variety of industries.

• Amanda Kingston, Divya Raman and Andrew McGloin ’08, with TriAD L.L.C., a technology company focusing on photodynamic therapy in the treatment of cancer and elective dermatologic procedures.

The final decision wasn’t an easy one, Ain said. Three plans were chosen out of the five: No. 3 was Renewables; No. 2, Sonospect; and No. 1, Thermal Ventures.

Thermal Ventures had the tightest plan, Ain said. The team plans to target the billion-dollar airline market for their coatings. SB

The winning team from Thermal Ventures pose with Mark Ain.

The team from Sonospect present their ideas.


Whether helping to rebuild after Hurricane Katrina or organizing books for a local nonprofit, members of the Simon community

are volunteering their time and expertise in a commitment to make a difference.

And they are doing it with a growing sense of camaraderie: Students, faculty and staff of the School together tackle projects that reach beyond the River Campus.

A recent cleanup effort drew 26 faculty, staff and students from Simon for raking, sweeping and removing trash from city streets. The event was part of the City of Rochester’s Clean Sweep, which attracts hundreds of volunteers to clean up neighborhoods on Saturdays in May. Simon’s contingent was organized by two student volunteer groups, Net Impact and Simon Volunteers, led by Terrence Liverpool ’08.

Simon students also volunteer as math tutors in the Rochester City School District. The Simon School is associated with the Team M.B.A. program in place on campuses nationwide. Run by the Graduate Management

Admissions Council, the initiative promotes campus teamwork among groups who otherwise rarely interact outside of an office or classroom setting, says Susan Bauer, assistant director of student services.

“Team M.B.A. has been a real boost in building our community,” she notes.

Other recent projects include:In May 2007, Simon community members took part in

Rochester’s United Way Day of Caring. Bauer led a team of 35 faculty, staff and students to a retirement community, where they helped staff prepare for a sock hop and then stayed for the dance.

Last December, Alicia Pangborn ’08 spearheaded the 15th annual Secret Santa program, one of the School’s longest-running efforts to reach out. The Simon community raised approximately $10,000 to buy clothing, toys and school supplies for 38 low-income families.

After a schoolwide gift-wrapping party, Simon Volunteers delivered the presents to the families. Three local agencies—Catholic Family Center, Rochester

Simon Gives Back—by Sally Parker


Children’s Nursery and the South Wedge Planning Committee—helped facilitate the project.

“Simon Volunteers have always led the way in terms of community service, and so has Net Impact. Now we’re doing it more as community-building with faculty and staff,” Bauer says.

Many other members of the Simon family are reaching out to the community. Students volunteer as math tutors at

a city high school. Simon fielded teams for a local Memory Walk, to benefit Alzheimer’s research, the Breast Cancer 3-Day Walk, and Polar Plunge for Special Olympics of New York, raising a combined $10,000. Tricia Monigle, office assistant in the Marketing and Communications office, joined her church on two mission trips to help restore homes in New Orleans after Hurricane Katrina.

Retired Navy captain Dan Struble, senior lecturer of

Raghu Gupta ’08 at the Polar Plunge for the Special Olympics of New York.

Memory Walk for Alzheimer’s research.


business communication, and Will Reynolds ’10 took part in a 110-mile disabled adaptive bike ride on a hand cycle in March 2008 in Albany, N.Y., to raise funds for World T.E.A.M. (The Exceptional Athlete Matters). Injured while serving in Iraq, Reynolds is medically retired from the service. (For more on Struble and Reynolds, see the article on p. 26.)

The desire to use their skills to help others is part of a growing social awareness at business schools, and students are tapping their new business acumen to help the community. For its part, the Simon School is an early partner in StartingBloc, an international nonprofit organization that helps young business leaders drive social change. Simon markets to StartingBloc fellows to promote its programs in the hope that they will choose to come to Simon and participate in its social-responsibility programs and in turn bring that perspective to corporate America.

Simon’s VISION Connect program takes a similar approach. A joint venture of the Center for Leadership Development and the student-managed VISION program,

VISION Connect is a corporate social-responsibility initiative that links students to local organizations needing business plans and other expertise.

“There are a lot of small-business owners who want to start something,” says Struble, who oversees the program. “They need help crafting a business plan. That’s where our students can help.”

Opportunities in the community are posted on the VISION Web site, where students can sign up to work

with business owners needing assistance. They earn VISION credit, a requirement for all first-year, full-time M.B.A. students.

Struble says VISION Connect benefits everyone involved: students gain real-world experience; business owners receive a workable plan in marketing, finance and other areas; and the School connects with the community.

The Anthony Jordan Health Center, which provides medical care to low-income city residents, was a VISION Connect client this year. Simon students showed center staff how they could reorganize their accounting books and create a marketing plan to raise the center’s profile.

Marita Greenidge, M.B.A. ’09 candidate (above left), tutors a student in the Rochester City School District.

As part of the May 2007 United Way Day of Caring, members of the Simon community led a Team M.B.A. sock hop at St. Ann’s Community in Rochester.


Students also helped a nonprofit startup get organized and develop a finance plan. Cancer Wellness Spa of Greater Rochester provides activities, movies, books, manicures and other relaxing outlets for cancer patients who are undergoing chemotherapy.

It’s all part of reaching out to Rochester and the greater community, Struble says.

“VISION started in the ’90’s to get students out of the classroom and involve them in the community,” he notes. “It makes them more well rounded as students, and we hope it will carry into their careers.”

Simon hopes the community involvement of its students in these initiatives will make the world a better place, as well. SB

Rochester Clean Sweep Team M.B.A. Event

Student clubs, Simon Net Impact and Simon Volunteers cosponsored Simon’s third Team M.B.A. event on Saturday,

April 26, 2008. Terrence Liverpool ’08 led a team of 26 Simon students and joined more than 700 volunteers from the greater Rochester area in the annual Rochester Clean Sweep program. The program dispatches workers to various projects in the area to clean and beautify city properties.

This year’s event focused on Rochester’s Southwest neighborhood. Students spent the day sweeping, raking and removing trash from lots on Cottage and Elba Streets.

Under the umbrella of Team M.B.A., business students from around the country, as well as faculty and staff, have been raising money and giving service to a variety of worthwhile causes. SB

The Simon Team M.B.A. helped clean up lots on Cottage and Elba Streets in Rochester’s Southwest neighborhood as part of the annual Rochester Clean Sweep program on April 26, 2008.


Simon Golf Tournament Turns 20


Simon alumni, faculty, staff and friends of the School marked the 20th anniversary of the Simon

Golf Tournament on May 16, 2008, at Ravenwood Golf Club. Over the years, the tournament has been held at a variety of local golf courses, including Ravenwood, Shadow Lake, Shadow Pines, Greystone and Cobblestone. The tournament was founded in May 1988 by Charles W. Miersch ’70, former senior associate dean for corporate relations and institutional advancement, who saw it as a golden networking opportunity. “When we started the Simon Golf outing, the idea was to create an event that would attract alumni and give them a way to network with one another, current students and some faculty,” Miersch recalls. “We never thought it would become a significant fund-raiser. Our first few efforts drew 50 or 60 players; we thought it would grow over time but not to the extent that it has. I am happy to have played a small role in beginning what has become a Simon tradition.”

(Above, from left) The Vangellow family—David, Greg ’94, Eric ’96, Dean Mark Zupan and John ’60.

Holli Budd and Greg Vangellow ’94 view the array of sponsors who supported the tournament this year. Sponsors included: Argilus L.L.C., CooperVision, Element K, ePlus, Forensic Economics, High Falls Brewing Company, Great Lakes Custom Products, HMT Inc., JC Jones & Associates L.L.C., Karpus Investment Management, Keybank, M&T Bank, Northern Capital Group, OppenheimerFunds Inc., Rochester Steel Treating Works, R.W. Dake & Company, SIGMA Marketing Group, The Kessler Group, The Pike Company Inc., Tucker Printers, Veramark Technologies Inc., and Verizon Wireless.

Over the past 15 years, the Vangellow family (father, John Vangellow ’60, and sons Eric ’86 and Greg ’94) have played in the tournament, and Greg has served as co-chair (this year, with Tom Thaney ’83) for the past 14 years. “My first tournament was in 1993,” Greg recalls. “That was a brutally cold, pouring-rain tournament at Cobblestone before it had a clubhouse. The weather has fluctuated from mid-80’s and sunny to bitter cold with driving rains. One year, we wore long johns, ski hats and gloves, and shorts the next.” Among Greg’s fondest memories are the tournaments he chaired with his father and brother, and this year, for the first time in 15 years, playing with his father and brothers, Eric and Dave. “I think the event is a wonderful networking tool and a great venue for alumni to get to know each other, entertain clients or friends, and give back to the School,” Greg says. “It is also a great way to interact with faculty and the dean in an informal setting. I am very proud of the fact that we raised over $25,000 for the School this year and that we were sold out. In this town, where there are literally four or more charity tournaments each week from May through September, it says a lot that firms and golfers are willing to support the School. Thaney, [Associate Dean] Holli Budd and Nate Kadar [in the Student Services Office] were instrumental in reaching our record level this year, and I know we will be able to put out an even better product next year.” SB

(From left): Peter Feltner, Katy Sears-Feltner ’08, Ashley Churder ’08

(From left): Holli Budd, Bob Hall ’80, Ed Ackley ’64, Mike McCourt ’93 and Dean Mark Zupan

Tournament co-chair Tom Thaney ’83

Give today and help make great things happen.

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Give today and help make great things happen.

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Leaders Inspired.Made possible by you.

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Proven leadership, a strong work ethic, discipline, teamwork—traits often used to describe those in our nation’s military. They are the same traits also associated with those who earn an M.B.A. The Simon Graduate School of Business has recognized this in its long tradition of accepting students with military backgrounds. As far back as the early 1970’s, instructors in the University

of Rochester’s Naval R.O.T.C. program have taught naval science courses and attended Simon on Fridays through the Executive M.B.A. Program. During that time, Simon also offered an M.S. program in Systems Analysis, overseen by Ronald W. Hansen, senior associate dean for faculty and research, that enrolled and graduated approximately 75 mid-career military officers. Over the years, many Simon international students have performed military service in their home countries as well. During the past two years, under Dean Mark Zupan’s leadership, the School has accelerated efforts to actively recruit M.B.A. candidates with military experience—either on orders from the military while on active duty or following several years of military service. “Since its inception, the Simon School has sought to attract the best and brightest candidates to attend its programs,” says Zupan. “Aside from today’s political climate, we continue to believe that the skills and traits inherent in current or former members of the military mirror those necessary for earning a graduate business degree and being successful.” Zupan appointed Daniel H. Struble, retired Navy captain and former head of the University’s N.R.O.T.C. Unit, to lead this effort, and the School has seen a significant increase in applicants with military experience. Struble says these applicants are excellent candidates for admission because of the skills they bring to the classroom. “They have a thorough understanding of finance, a high level of maturity and experience, a natural take-charge approach and a get-it-done attitude that positively affects everyone around them,” Struble says. “I heard one professor say, ‘They don’t wither under academic fire,’ and it’s true. What they bring and what they get is tremendous.” Some graduates return to the military with M.B.A.’s, others pursue careers in business—either way, they are among Simon’s most influential and successful alumni. Here is a sampling of Simon students and alumni who are currently enlisted or previously have served in the U.S. military.

Simon Leaders Serving America

—by Charla Stevens Kucko and Joy Underhill

O


A native of Minneapolis, Minn., Andrew Armstrong ’09 began his undergraduate studies at the University of Memphis. Two years later, he

transferred to Franciscan University in Steubenville, Ohio, where he earned a B.A. degree in philosophy and theology. After graduation, Armstrong faced a crossroads: Enter the seminary to become a priest, or dedicate a few years of service to the U.S. Army? With a strong family history of military service (his grandfather, father, brother and sister all served), Armstrong decided to enlist—and never looked back.

When he enlisted in November 2003, Armstrong wasn’t sure if it would become a career; he knew, though, that he wanted to serve as a linguist. Following basic training at Ft. Leonard Wood, Mo., he was stationed at Ft. Huachuca, Ariz., where he met his wife, Elisa, a native of Switzerland and fellow soldier in Advanced Individual Training there. Then, it was on to the Defense Language Institute in Monterey, Calif., where he learned Arabic. “In the range of difficulty, Arabic is in the top category,” explains Armstrong, who graduated at the top of his class in November 2005. During that time, he and Elisa were married and had their first child, Isaiah, now 2½. The couple and their young son moved to Ft. Hood, Tex., and Armstrong was deployed to Northern Iraq for 15 months. When asked about his tour of duty, there is a long pause.

Fluent in Arabic, Armstrong served as the leader of a human intelligence collection team charged with obtaining information of intelligence value through either prisoners or civilians. His unit was attached to a Military Transition Team in charge of training the Iraqi army intelligence personnel in everything from interrogation to conducting independent operations. Armstrong’s recollections of that time are vivid. “We were able to make a positive difference in the lives of the Iraqis there; that’s the reward,” he says. “From where they were when we arrived and then when we left, we saw a world of difference.”

No question that it was a dangerous and stressful time for Armstrong, both on the road and on the base. “While on the convoys, we were always on the alert for possible roadside bombs,” he says. “While on the base, there were rocket and mortar attacks, so you’re never really out of harm’s way. I was very fortunate that nothing happened

to our team. There was a lot of pressure to keep the team together, and as team leader, I was responsible for all aspects of our well-being.”

Armstrong returned to the United States in October 2007. Still on active duty, he is currently on assignment to earn his M.B.A. at the Simon School through the Army’s

Green to Gold program (green for enlisted soldier, gold for officer); he also participates in the Army R.O.T.C. program at the Rochester Institute of Technology. After graduation, he will return to the military as a lieutenant.

Armstrong applied to Simon while on active duty in Iraq. He says Simon’s response was unique and highly personalized. “Dean Zupan and Dan Struble e-mailed me directly,” he says. “I immediately felt part of the family and valued from the start.” Armstong says Struble, a retired Navy captain, was an advocate for him and offered to help with the transition to the Rochester area.

Andrew J. Armstrong ’09

Armstrong pauses for a moment during his time in Iraq.


Among Armstong’s favorite Simon professors is Edieal J. Pinker, associate professor of computers and information systems. “We were doing spreadsheets on Excel, and he compared it to “The Karate Kid.” He was Miyagi and we were Daniel-san. Eventually, he said, we would understand. I enjoyed his course very much.”

How Armstrong uses his M.B.A. after graduation depends on his next active-duty assignment. “I’ve gained excellent leadership and quantitative skills at Simon, and if the military wants to keep me, that would be a great first option,” he says.

Armstrong says he learned the traits necessary for success from his father. “We had a big family and my father had to work a lot to provide for us,” he recalls. “We were

taught the value of hard work. There was no sense of entitlement. Wherever I go, people comment on my work ethic. It stems from my family life.”

The Armstrongs welcomed their newest addition, son, Luke Vincent, on August 18, 2008.

Armstrong returns from his tour of duty in Iraq to his wife, Elisa, and son, Isaiah.

Daniel H. StrubleA retired Navy captain with tours as a helicopter pilot, flight instructor, joint staff and congressional liaison officer, financial specialist, helicopter squadron commander, public affairs officer and naval attaché—Dan Struble’s résumé reads like a primer in leadership. Struble (or, as he is affectionately called by his colleagues at the Simon School, “Captain Dan”) joined the staff in 2006, after his retirement from the Navy, as senior lecturer in business communication and area coordinator of business communication.

In addition to actively recruiting military M.B.A. candidates to the Simon School, Struble directs the new Center for Leadership Development. The Center’s mission is to provide a focus for understanding the essence of leadership. Under Struble’s direction, the Center encompasses: an annual Leadership course conducted by finance scholar and former Simon faculty member Michael C. Jensen; the student-managed VISION Program and VISION Connect, a new initiative that links Simon students with small businesses to develop business plans; the Richard Sands Leadership Lecture Series; the business communication curriculum for all full-time M.B.A. students and club leaders; and team building and leadership training.

“The Center is new, and we are reaching out and trying different things,”says Struble. “Our goal is to expose students to the mechanics and ethics of leadership.”

Struble, who has extensive experience in leadership and executive communication training and delivery, recently described the typical persona of a member of the military—often, but not always, the first-born member of the family (like Struble) and, for those familiar with Myers-Briggs personality assessments, “The Guardian”—someone who is take-charge, a born leader, no nonsense, and usually a model citizen.

Two of Struble’s three children have gone on to serve, something, he says, he never required of them. His older son is currently in the Navy on board a submarine, his daughter is in the Peace Corps helping rural residents in Ukraine, and his younger son is a film student at Syracuse University.

Struble earned a B.A. in biology from Cornell University and an M.B.A. from the University of West Florida.


Colonel Catherine Chase ’01* has been a Marine since the early 80’s, and is currently an activated reservist on military leave from her job at Hewlett-

Packard in Austin, Tex. Stationed at Camp Lejeune, N.C., she oversees manpower and personnel issues in her capacity as the deputy assistant chief of staff G-1 for the II Marine Expeditionary Force.

Chase’s education began more than two decades ago at the University of North Carolina at Chapel Hill, where she graduated with a double major in chemistry and zoology. After several years at various companies in positions that required managerial and supervisory duties, she launched a wide-ranging career at Xerox Corporation while still actively serving in the Marine Reserves. “In my time at Xerox, I managed manufacturing and client operations, led a cross-functional team of sales and operations employees, and managed outsourcing of client accounts both nationally and globally,” she says. “In later years, I acted as national program manager for outsourced services and helped develop client solutions, proposals and integration strategies for imaging and printing services.”

While at Xerox, Chase became aware of the fact that she needed a better background in business in order to further her career. Xerox had established a relationship with the Simon School through its Executive M.B.A. Program, so Chase applied and was accepted. “Working at Xerox and going to Simon took about the same amount of effort as I now put into my military job alone,” she notes. “But we’re at war right now, which adds a whole different dimension to the work I do for the Marine Corps.”

Before coming to Simon, Chase had never been to a school where students used tunnels to navigate in frigid winter weather. “I also recall a statistics professor—former Simon professor Glenn MacDonald—who used his fencing épee as a pointer. I didn’t know until later that several faculty members were fencers and that the U.S. fencing team in fact trained at the University of Rochester.”

In 2003, Chase joined Hewlett-Packard as director of global imaging and printing services development, where she led managerial groups and virtual teams across worldwide regions and functions. She credits her Simon education with opening doors to global responsibilities in her civilian job

that she might otherwise never have known. Her Simon M.B.A. also broadened the way she approaches her military challenges. In both arenas, she says, her education has made her more efficient, productive and knowledgeable.

Chase believes that a graduate education takes on special significance for those in the military. “Although it’s challenging to keep up with civilian educational opportunities while working toward military educational milestones, I believe continuing education is vital for both those leaving military duty for civilian employment and for military personnel who continue to serve,” she says.

Chase cites two skills that have proven essential in her career success, both in the military and as a civilian: learning how to develop successful, high-achieving teams, and being able to focus and follow through. “I learned these skills first at Officer Candidate School and follow-on Marine Corps leadership programs, but the Simon School built upon the skills I already had and took them to a much higher plane.” At Hewlett-Packard and in the Marine Corps, Chase deals with upper-level personnel on a regular basis, which is not always easy. “I’m confident of my ability to accomplish large-scale objectives, in part because of the education I received at Simon,” she says.

Recent studies have indicated that applications from military personnel are on the rise at business schools. Chase believes that people with a military background recognize that they need additional preparation to be successful outside the armed forces. “Some military occupations transfer easily to civilian life, but many do not,” she notes. “In civilian life, skills in infantry, artillery, tanks and surface warfare don’t always have an intuitive fit. Having an M.B.A. when you come out of the military makes you much more employable. In fact, I wish I’d gotten mine earlier in my career.”

Among the biggest influences, Chase points to her mentors. “I’ve been lucky to have exposure to quite a few of them in my life,” she says. “Along the way, many people have coached me on how to be a better leader and a better person. I was fortunate to have terrific role models along the way, which has made all the difference in my career.”

Catherine Chase ’01*



Each day at sea has something different in store for Jason DeBlock ’07. Currently on active duty as an operations officer in the U.S. Navy, aboard

the U.S.S. Bulkeley, Jason is responsible for all operational aspects of the mission, including operations, intelligence and tactical employment of the ship and its assigned aircraft.

DeBlock, a native of New Hampton, N.Y., has spent many days at sea. Before earning his Simon M.B.A. while on active duty with the Navy through its Surface Warfare Officer (S.W.O.) M.B.A. program, he served as an S.W.O. with nuclear subspecialty aboard the U.S.S. Fitzgerald and the U.S.S. Enterprise.

After graduating from the United States Naval Academy in 2000 with a B.S. in systems engineering and attending naval nuclear power and nuclear prototype training in 2003, DeBlock heard about the S.W.O. M.B.A. program, which allows officers to compete for one of four scholarships to business schools. “I figured it would be a wonderful opportunity to go to a great school and achieve the knowledge to become a better-rounded naval officer,” DeBlock explains. Upon being awarded a scholarship, he chose Simon specifically for its excellence in finance. “I’ve always had a very technical background, and I liked the quantitative curriculum at Simon,” he says. “I was also very impressed by the faculty and the diversity of the students.”

DeBlock says his Simon M.B.A. has made him a better naval officer. “I think the problem-solving approach has served me well in this position,” he notes. “I don’t think it’s that details only matter in the military, but that the stakes are much higher for how you manage those details.”

Being in the military and earning an M.B.A. have some significant parallels, according to DeBlock. “Teamwork is the hallmark of both,” he says. “You can never accomplish on your own what you can accomplish with others. Diversity is another similarity. Simon is very diverse, and so is the military.”

DeBlock says that leadership and an entrepreneurial spirit were other key takeaways. “The intangibles that you don’t necessarily learn through a textbook are what serves me best right now,” he says. In addition, as the military becomes more fiscally oriented, there is a growing need for officers with financial savvy. “There is much greater emphasis on our forces being ready at the right time and at the right cost,” DeBlock observes. “In many ways, we are tightening our belts just like corporate America, without sacrificing the end product of readiness. Any person, military or not, will find these skills are transferable.”

When he isn’t on duty, DeBlock enjoys spending time with his wife, Shannon, and their son, Warner, 2, at their home in Chesapeake, Va. They are looking forward to the newest addition to their family in November.

Throughout his life, DeBlock says his family has been a consistently positive influence. “My wife encouraged me to apply for the competitive Navy scholarship that allowed me to attend Simon while on active duty,” he says. “My parents instilled in me from an early age that hard work pays off. My brothers, sister and I have always been close—we’ve always given each other a tremendous amount of encouragement to succeed.”

Jason DeBlock ’07


Should you meet Joel Levesque ’98, you might peg him for a typical middle manager who enjoys regular hours, limited travel and a quiet suburban lifestyle

in Washington, D.C. His job as Homeland Defense branch chief for the Joint Integrated Air and Missile Defense Organization involves him in activities such as helping to draft national security policy directives and pushing technology needs through the acquisition process. Although he’s pleased that his job affords such a great balance between work and life, he’s the first to recognize that this hasn’t always been the case.

After earning a B.S. degree from the U.S. Military Academy at West Point in 1989, Levesque graduated from Army Ranger School at Fort Benning, Ga. From there, he spent three years at Fort Ord in Monterey, Calif., where he led small-unit organizations. He eventually became second in charge of a 100-plus light air defense battery, managing logistics, training and administration.

The mid ’90’s found Levesque in “the best job in the Army,” serving as commander of a sizable air defense battery with the 3rd Infantry Division at Fort Stewart, Ga. In that capacity, he managed more than $2 million in tools and special equipment needed to keep 10 Bradley Fighting Vehicles ready for deployment anywhere in the world with just 96 hours’ notice. “We also had a fleet of more than 30 support vehicles that would be used to move people, ammunition and supplies for such deployments,” Levesque notes. “I very much enjoyed being close to the soldiers and able to influence the success of their missions.” During his time at Fort Stewart, his unit was deployed to Egypt, Kuwait and Haiti.

Levesque intended to pursue an M.B.A. shortly after completing his undergraduate degree, but it wasn’t until he was nominated to join the Economics faculty at West Point in 1995 that he was able to do so. “One of the conditions of this position was being accepted to one of the top 20 business schools,” he says. “I knew I wanted a school with a strong emphasis on quantitative economics, preferably in the Northeast. Simon ranked No. 1 in the nation in finance that year, so it was a great fit.”

After receiving his M.B.A. from Simon, Levesque

spent three years teaching economics at West Point. He was then moved to Fort Drum in Watertown, N.Y., to act as a Battalion Operations Officer for the 10th Mountain Division. In his post, he was responsible for coordinating and planning the resources needed for a 400-person

organization and was twice deployed to Afghanistan with his unit, where he served a total of 14 months.

A Simon M.B.A. has helped Levesque time and again in his current job as he evaluates financial data and makes quantitative decisions. “I often have to make rapid recommendations to General Officers prior to Capitol Hill testimony on military investments in construction or with regard to various defense companies,” he notes. “My education helps me understand how interest rate fluctuations affect the value of overseas military investments and the spending power of our soldiers’ paychecks. Plus, now I can look at all sections of The Wall Street Journal and understand what I’m reading!”

Joel Levesque ’98


What struck Levesque about the Simon School was how similar the habits, attitudes and traits of serious business students were to the best military officers. “Both groups work very hard, set milestones, build teams and solicit resources to accomplish objectives,” he says. “People in both groups also grow extremely impatient when an organization squanders its resources.”

Levesque fondly remembers the Simon Nite Outs and Friday night Happy Hours in the Rotunda. “My second year, I played bass guitar for a band called the Mind-Blowing Ants—M.B.A.’s. I also sang tenor in a group known as The Standard Deviations,” he recalls. “Singing with my buds, drinking beer with classmates—it doesn’t get any better than that!”

Levesque credits his early family life in a New England small town as his biggest influence; in his spare time,

he enjoys raising his three children and volunteering for the Boy Scouts, Big Brothers and Sisters and other organizations.

Levesque also likes to learn about leadership and history. “I’m a big fan of generals, politicians and business titans,” he says. “The soldier-scholars I emulate are too numerous to list, but I’m certain they understood ‘the tipping point’ better than most!”

As a big football fan, Levesque agrees with Vince Lombardi’s belief that running a football team is not that much different from running a business or fighting a war. The objective, in all cases, is to win!

Most people think of the boardroom as the typical venue for a Simon School graduate. Yet Nathan Martin ’96* proves that the leadership and

teamwork skills he acquired at Simon are also crucial in his role as commanding officer of a nuclear submarine.

Martin’s sea-duty assignments for the U.S. Navy include both fast-attack and fleet ballistic missile submarines. As of April 2008, he took over as commanding officer of the U.S.S. San Francisco. Currently dry-docked for repairs in Bremerton, Wash., the vessel is scheduled to change home ports to San Diego in 2009. Martin, who has served in the Navy for more than two decades, now leads 120 sailors in a nuclear submarine that operates hundreds of feet below the surface of the ocean and cost an estimated $900 million to build.

Martin was raised far from the sea in the land-locked town of Clifford, N.D. “It was the epitome of a small farming town,” he says. “My senior class in high school had just 12 people.” After graduating from North Dakota State University in 1988 with a B.S. in electrical engineering, Martin was commissioned at Officer Candidate School in Newport, R.I., and completed nuclear power training in Florida and Idaho.

His first assignments at sea were as reactor control assistant, damage control assistant and quality

Nathan Martin ’96*O


assurance officer aboard the U.S.S. Minneapolis-St. Paul. Martin fulfilled his duties as the ship was deployed to the Mediterranean and the North Atlantic, and as it underwent a deport modernization period at Portsmouth Naval Shipyard in Kittery, Me. Martin’s subsequent assignment was as engineer officer on the U.S.S. Sea Wolf, where he completed various crew and ship certifications. Before his current assignment as commanding officer of the U.S.S. San Francisco, Martin acted as executive officer aboard the U.S.S. Nebraska, which completed four strategic deterrent patrols and a change of home port during his tenure.

It was near the end of his first sea assignment in 1993 that Martin decided to pursue a graduate degree during his next shore assignment. “With my technical background, I thought getting an M.B.A. would give me both the education and experience I would not otherwise gain,” he says. “In addition, pursuing an M.B.A. gave me a chance to study finance and economics, both personal interests of mine.” While at Simon, Martin also served as class officer and instructor at the Naval R.O.T.C. unit. After finishing his M.B.A., he completed Joint Professional Military Education Phase II training at the Joint Forces Staff College in Norfolk, Va.

“Simon gave me perspectives on leadership, team building and teamwork that I had not experienced in the Navy,” Martin notes. “The business community’s per-spective on leadership is different from the Navy’s. Understanding both has been very valuable to my career.”

One of the perspectives that Martin did not realize before attending Simon was the concept that individual actions are based on perception, not fact. “I’ve used this many times during my career,” he says. “It was important to learn that effective communication and leadership are what ensure that perception aligns with reality.” Martin also gained an understanding of the incentives and disincentives that are created by the structure and policies of an organization. This has helped him learn what motivates people to perform and prevents them from doing so.

“I fondly remember my study group at Simon, specifically Tom Przybylowicz,* Mick McCue,* Rich Boomsma* and Monica Lucas* [all Class of ’96],” says Martin. “I often learned more from the study group than

I did in class.” During the second year of the program, the class took a trip to Washington, D.C., where they enjoyed socializing with one another and meeting national political and business leaders.

Martin’s distinguished Navy career is marked by the commendations he has earned. Over the years, he has been awarded the Meritorious Service medal, six Navy and Marine Corps Commendation medals, and two Navy and Marine Corps Achievement medals.

“I’ve been very fortunate in the stations I’ve been assigned,” he says. “A Navy career can be tough on family life, and I’ve spent a good deal of time away from my own family. My wife, Peggy, is very independent and self-sufficient, so it’s worked out. The time apart makes you cherish the time you have together.” Luckily, Martin was able to witness the births of all three of his children. “You need to have a plan to keep the important things in life on schedule,” he says. “Timing is everything.”

In his free time, Martin enjoys boating, racing radio-controlled trucks and outdoor activities with his children. Some of his favorite books include Freakonomics, Master and Commander and The Goal, which was required reading during his time at Simon.


Martin and his wife, Peggy.


Retired U.S. Navy Rear Admiral Stuart Platt ’70 is a leader with a global perspective. As a native of New York City, Platt was introduced to

diversity early in his life. When he was ready to expand his horizons, he attended the University of Rochester and earned a B.S. degree, followed by an M.S. in operations analysis. Although his active-duty status was controversial during the Vietnam War era, he found a welcoming attitude at Simon for students dedicating their lives to the armed forces. He received his M.B.A. from the Simon School and took back into his career the School’s emphasis on leadership development, financial analysis and entrepreneurial economics.

Platt’s years in the Navy have earned him more than 20 medals and decorations for combat and military service

and entry in the United States Navy Submarine Force Hall of Fame. “I am most proud of my time under the Reagan Administration, when I was chosen as the first person to serve in the position of Competition Advocate General,” he says. As Senior Procurement Officer in Uniform, Platt relied on his Simon training in supply and demand curves to rebuild a naval force and curtail escalating difficulties with the Soviets. Platt also oversaw the largest-ever purchase of Trident strategic missile submarines and nuclear-powered aircraft carriers. His

role in developing a strong naval presence was crucial in helping to end the Cold War.

Platt has continued to seek new horizons after retiring from the Navy. His spirit of innovation and interest in entrepreneurial economics led him to form Harbor Wing Technologies in 2003. “We assembled a team of experts to develop a unique Autonomous Unmanned Surface Vessel [A.U.S.V.] that operates with no crew and no fuel,” he notes. “This wind-powered sailing vessel follows a designated course, which is ideal for marine surveillance and exploration.” The environmentally friendly, low-cost A.U.S.V. has broad applications for environmental, commercial, law-enforcement and military clients worldwide.

Never far from the water, Platt lives on Bainbridge Island in Washington State. He spends a good deal of time researching a new class of wind-powered vessels in Pearl Harbor, Hawaii. He has written two books, The Armament Tide and Letters from the Front Lines, the latter adapted into a play performed at California’s Berkeley Repertory Theater. He also writes influential op-ed pieces for The Wall Street Journal, particularly on military topics about North Korea and the Far East.

Stuart Platt ’70


If ever there were someone who personifies an indomitable spirit, a positive attitude, and a can-do work ethic, it would be Will Reynolds.After graduating in 2002 from the United States

Military Academy at West Point with a B.S. degree in systems engineering and going through officer basic training at Ft. Benning, Ga., Reynolds reported to Seoul, South Korea, in 2003, where he served as an infantry rifle platoon leader in his first assignment. Next, Reynolds reported to Ft. Drum in 2004, and from there was deployed to Iraq. Reynolds started his assignment in Southwest Baghdad, where he served as a reconaissance platoon leader charged with leading a platoon to provide the infantry battalion reconnaissance support and sniper employment. His platoon was also assigned to augment other brigades. “Those days were very wearisome,” Reynolds recalls. “It was hectic, one day off every 30 days, 14- to 16-hour days of patrolling in 110-degree heat. In November, it would cool down to the upper 90’s.”

One day, during a weeklong transition to Northwest Baghdad—in military terms, a relief in place —Reynolds’ brigade responded to a car bombing of a neighboring unit. Upon returning to their sector, the brigade was ambushed with a concealed explosive device. Reynolds was severely wounded by shrapnel in his left leg and left arm; one of his colleagues lost a leg. “I consider

myself very lucky,” Reynolds says. “I lost 11 units of blood, but combat lifesavers stopped the bleeding and got me treatment.” His road to recovery would include 22 surgeries from November 2004 through December of 2006. He recuperated at Walter Reed Army Medical Center in Washington, D.C., with his family and friends at his side.

“Will’s is an incredible story,” says Dan Struble, senior lecturer in business communication at the Simon School. “He was a gymnast, skier, Eagle Scout, went to West Point, was injured in Iraq, and when he got to Walter Reed, he said, ‘Okay, make me better.’ ”

Reynolds credits his family for his motivation to get well. During his long recovery, he started to think about either medical school or business school. But it was in 2005, when he visited Medtronic, the company that invented the fusion product used in his leg, that he decided to get his M.B.A. His ultimate goal is to work for a medical device company like Medtronic, and to help others enduring similar experiences.

When it came time to choose a business school, Simon was at the top of Reynolds’ list—it was one of the few leading business schools offering a Health Sciences Management concentration. There is also a family connection to the University of Rochester. His late father, William B. Reynolds, earned an M.S. degree, his sister, Suzzanne Anicette, received her B.A. degree, and another sister, Evelyn Reynolds, earned her M.D. at the University.

William B. Reynolds III ’10


So he applied, and Struble made the outreach. “Dan made a huge impact on me,” Reynolds says. “When he saw that I had a military background, he called me and I hadn’t even applied yet. I came to Experience Simon Weekend in the winter of 2007, and while I was in town with my fiancé, Cassandra, he invited us to dinner at his house. He really made us feel at home.” The couple married in June 2008 at West Point.

During his recovery, Reynolds worked for the Joint Improvised Explosive Device Defeat Organization through the help of the Wounded Warrior Project, a military program that shows wounded soldiers in the D.C. area that they can still contribute to the military in a variety of ways. After medically retiring in 2007, he came to the Simon School to earn his M.B.A. full time.

Despite the many challenges he’s faced along the way, Reynolds says he wouldn’t trade his military experience. He’s particularly proud of the efforts to improve the infrastructure in Iraq to help people get electricity, access to clean water—the basics. And, he says he never takes anything for granted.

His desire to help others is evident. At Simon, Reynolds is a member of Simon Volunteers, and a board member

at Cameron Community Ministries, a poverty outreach organization in Rochester’s Lyell/Otis neighborhood, where he volunteers during the after-school program and provides homework help.

In his spare time, Reynolds continues to ski using a specially designed monoski, and in March 2008, he participated in a 110-mile disabled adaptive bike ride on a hand cycle to raise funds for World T.E.A.M. (The Exceptional Athlete Matters) Sports, an organization that promotes inclusive sports for all, especially helping disabled veterans return to recreational activities.

“My father died in 2005, but the things he valued have stuck with me,” Reynolds says. “He always stressed community involvement, recreational activities, living a well-rounded life—working hard and playing hard. That and a positive outlook are what’s most important in life.”

Reynolds is currently interning with Boston Scientific’s Cardiac Rhythmic Management division in operations management. He will graduate in 2010 with M.B.A. and Master of Public Health degrees. SB

Reynolds and his wife , Cassandra on their wedding day in June at West Point.

HOMECOMING

2008

FAMILY

REUNION

All-Simon Alumni Reunion

October 16–19, 2008Market Volatility: What Lies Ahead Panel discussion with Dean Mark Zupan; Professor Clifford W. Smith, Jr.; Michael Ryan ’81, ’84s (mba); and University Trustees Cathy Jones Minehan ’68 and Michael S. Rosen ’82, ’83s (mba)

Simon School Faculty Symposium Featuring Professors Ronald Schmidt and

Gregg Jarrell

Simon School All-Alumni Reunion Celebration and Awards Dinner

Breakfast with Dean Mark Zupan

College of Arts, Sciences, and Engineering Eastman School of Music School of Medicine and Dentistry School of Nursing Simon Graduate School of Business Warner School of Education

Photographs by HuthPhoto and Kurt Brownell

Held during Meliora Weekend— a University celebration for all alumni, parents, students, and friends

For more information or to submit ideas for future programs, contact: Kate Gruschow, Office of Alumni Relations and Development585.275.2495 [email protected]

Don’t Miss Out!Registration Deadline: October 6, 2008 www.rochester.edu/melioraweekend

ur mw simon ad 3.indd 1 9/3/08 5:42:46 PM


http://www.rochester.edu/melioraweekend


AlumniNews

Dean’s CornerHelping our future graduates find the right job is one of the most powerful tools we have to boost the reputation of the Simon School. The leadership potential in our graduates makes our students Simon ambassadors in the marketplace, impressing both corporations and colleagues. The good will engendered by our ambassadors serves to enhance our standing among graduate business schools.

With that in mind, we tried an experiment this spring. The Career Management Center (C.M.C.), with help from our Marketing and Communications staff, developed a Web site housing the names and résumés of the members of the Class of 2008 who were looking for placement. Patty Phillips, C.M.C.’s executive director, sent an e-mail to each of our Web-using alumni, as well as the University’s Board of Trustees, asking recipients to review the Web site and contact students directly with leads and networking tips.

It will be a few months before we can crunch the data, but anecdotally the project was a great success. One of our students, who was looking for a position in IT consulting, received six calls from alumni within a few days. Another

student, with a concentration in Marketing and Finance and a specialization in Pricing, was contacted by an alumnus from Dell Shanghai, her “dream company,” and made plans for an informational interview there.

In other news, we reached a significant rankings milestone this spring. U.S. News & World Report ranked Simon among the top 25 business schools in the nation in its annual survey. (Simon was 36th the previous year.) The survey also ranked Simon 13th in finance and 24th in accounting among U.S. business schools.

This ranking, and others of recent note, further confirms the value of our strategic plan to build upon our top-tier level of excellence. To become among the Top 10, we will need to continue to help our graduates network and find quality placement. So to that end, you will likely continue to hear from us as we make every effort to connect our students with our most valuable asset: Our alumni.

If you are intrigued by the thought of helping out a student, please e-mail me at [email protected] with your thoughts, or call me at (585) 275-3316.

Mark ZupanDean

For the most up-to-date list of Simon alumni events taking place around the globe, visit

www.simon.rochester.edu/alumni/events.aspx.

For information about alumni networks, visit their Web pages at

www.simon.rochester.edu/alumni/regional_clubs.aspx.

If you have additional questions about events or networks, call the Office of Alumni

Relations and Development at (585) 275-7563.

Regional Events and Alumni Networks

Share Your News!To submit a class note, send an e-mail to the Alumni Relations and Development

Office in care of Kate Gruschow at [email protected] or to your

class correspondent:

Class of 1982: Sameer Shah, [email protected]

Class of 1988: Jeff Durbin, [email protected]

Class of 1992: Eric Suitos, [email protected]

Class of 1994: Andrew Marein, [email protected]

Class of 1999: Sarah Plasky-Sachdev,* [email protected]

Class of 2002: Douglas J. Witter, [email protected]

Class of 2004: Karen Sweet, [email protected]

Class of 2005: Rameet Kohli, [email protected]

http://www.simon.rochester.edu/alumni/events.aspx

http://www.simon.rochester.edu/alumni/regional_clubs.aspx












The University of Rochester has established the George Eastman Circle specifically to honor the distinguished donors who provide leadership Annual Fund support to any of the University’s schools and units, including many areas within the Medical Center. It is the only society to recognize Annual Fund giving across the entire University.

Annual Fund gifts have a significant impact in every area of the University. They are, by definition, unrestricted, current-use funds that provide the head of each school, unit or department with maximum flexibility for responding quickly to new opportunities or to meet unexpected needs. For the Simon Graduate School of Business, these funds typically support operations, educational programs, scholarships, research and similar initiatives.

The George Eastman Circle is more than a donor recognition program. It is an opportunity for the University’s alumni, faculty, staff, parents and friends to join together to strengthen and advance the University as it enters the next transformational period in its history. Members will have access to programm-ing that highlights and celebrates the University’s greatest achievements.

Member status will be granted to supporters who make a pledge at one of the following annual levels:

Members $1,500–$4,999

Fellows $5,000–$9,999

Benefactors $10,000–$24,999

Patrons $25,000–$49,999

Founders $50,000 +

Members of the George Eastman Circle will help the University provide even greater service to the community and world. By joining together, they are honoring the legacy of one of the University’s greatest benefactors, George Eastman.

For more information on becoming a member of the George Eastman Circle, please contact Christian Gordon at (585) 273-4888 or [email protected].

University Establishes New Donor Recognition Society

World According to Simon (W.A.T.S.) managing editors Ruchi Tibrewal ’09 (at right) and Marita Greenidge ’09 (at left) presented Martin Hellweg ’93, who cofounded W.A.T.S. with Richard Prati ’93, with commemorative plaques during his recent visit to the Simon School in April 2008. Hellweg, C.E.O. of Swissmetal and managing partner of Ally Management Group, said he was delighted to meet the students and reminisce about the evolution of W.A.T.S. and his time at Simon.

Report On Giving ErrataTo the Simon School alumni whose names were inadvertently omitted from the listings of the 2006–2007 Report on Giving that appeared in the previous issue of SimonBusiness, please accept our apologies for the omission and our thanks for your continued support.

Donor Advised Funds

Simon PatronsBrian F. Prince ’89

Simon SocietyCharles W. Miersch ’70

Consortium for Graduate Study in Management Alumni Fund

Simon PartnersBertram M. Days ’76 Chavis A. Williams ’80

Simon FellowsStephen A. Allen ’77 Steven C. Bussey ’93 Robert W. Diaz ’98 Rodolfo T. Gonzales ’91 Jesse L. Grissom ’84 Kathy N. Waller ’83

Simon AssociatesMartin Perraza ’89

Simon Hundred ClubDerrick C. Bell ’93 Brian P. Gilliard ’03 Nadia E. Holder ’05 Wanda A. Humphrey ’92 Mwanza O. Lumumba ’04 Pablo A. Mastandrea ’02 Carlos Sera ’82

Simon DonorsTerry L. Fraser ’71

Class Year Corrections

Class of 1972Simon PartnerDennis Soter

Class of 1977Simon PartnerRobert E. Rosdahl, M.B.A.*



Simon has developed its most successful alumni interviewing initiative to date. With the help of 80 alumni, over 300 applicants were interviewed on site in Beijing and Shanghai, China; New Delhi, Mumbai and Bangalore, India; Tokyo, Japan; on campus at the Simon School; or by telephone. The Simon Admissions Office would like to especially recognize the following alumni for their exceptional contributions to this initiative:

Beijing, China—Jie Chen ’00 and Liang (Tony) Zhang ’03

Shanghai, China—Xiaohu (Tiger) Shan ’99, Yuncheng (Kim) Xu ’02 and Jinnan (Gerald) Yang ’04

New Delhi, India—Balu Balasubramanian ’69 and Aditya Kapoor ’96

Mumbai, India—Ajay James ’02, Prasad Kancharla ’02, Mukul Kasliwal ’88, Arun Malhotra ’03, Ashish Malik ’94, Ashish Merchant ’00, Ashok Narain ’03 and Nihar Shah ’03

Bangalore, India—Bradley Bismark ’05, Vasant Hegde ’03, Siddharth Pai ’93, Samuel Thomas ’71 and Joab Tjiungwanara ’00

Tokyo, Japan—Takatomo Itoi ’03, Yuichiro Kawabe ’07, Satoshi (Kris) Kogahara ’03, Hiroshi Komada ’00, Scott Markowitz ’02, Tetsufumi (Tetsu) Miyake ’07

and Ruriko Muraoka ’05. Special thanks to Shinsei Bank for hosting the event in their breathtaking headquarters and Tetsu Miyake for organizing the event on behalf of the Bank.

Simon School On-Campus Interviews—Kenyatta Andrews ’06, Ken Burkeen ’02, Naomi Cohen ’05, Scott Detraglia ’02, Kevin DiGiacomo ’99, Salim Holder ’07, Benita Kapadia ’07, Daniel Marangola ’06 and Troy Willis ’03

Off-Site Phone Interviews—Pressigny Alcindor ’05, Howard Allen ’05, Stephanie Beetle ’07, Doug Bennett ’06, Rob Bircher ’07, Sean Carroll ’02, Katie Dudek ’05, Jun Falcon ’98, Wayne France ’94, Adam Frisicaro ’05, Steve Glenning ’92, Chris Gudmastad ’04, Gaby Gutierrez ’04, Patrick Haughton ’02, Drew Hearon ’01, Paul Hurley ’03, Chris Johnston ’06, Rami Katz ’03, Aaron Kibbey ’00, Patrick Krenzer ’01, Suzanne Ley ’04, Phillip Logsdon ’02, Debra Maddow ’04, James Osborn ’07, Rajat Padhi ’05, Jeffrey Pankow ’90, Sergio Peirano ’06, Renee Piccirillo ’03, Angelo Ponticello ’97, Shaffiq Rahim ’07, Anthony Ricci ’03, Matthew Rice ’06, Jeannine Rossignol ’01, Doug Ryan ’04, Sarah Ryan ’02, Kristin Short ’02, Charlie Smith ’05, J. C. Stevens ’98, Rick Tadokoro ’02, Michael Tripp ’07, Antoine Uwimana ’03, Augusto Weygang ’02, Ron Wille ’01 and Marcelo Zabala ’03

Alumni Admissions Interviews

Alumni Gatherings

Tokyo—Class of 2002 gather-ing in fall 2007. (Pictured from left): Iwao Saito ’02, Disney Japan; Tetsuya Kawase ’02, Deloitte & Touche; Evan Hyman ’02, Mitsui Foods; Makiko Ishida (Evan’s wife); Scott Markowitz ’02, Bank of New York; Ann Lee ’02, Costco Japan; and Keiko Ejima ’02, Johnson & Johnson.


Alumni Gatherings


New York City—“Integrity: Where Leadership Begins—A New Model of Integrity,” presented on May 5, 2008, by renowned finance scholar and former Simon School faculty member Michael C. Jensen, Jesse Isidor Straus Professor of Business Administration Emeritus at Harvard Business School and managing director, organizational strategy prac-tice, for The Monitor Group. Event hosted by Christopher Molloy ’90 (not pictured), senior vice president, Lehman Brothers.

Atlanta—Investment Seminar on September 19, 2007. Event hosted by Tim Benbow ’91 (not pictured) of Raymond James & Associates. (Pictured from left): Kevin Nicholas ’93, Jon Van Duyne ’85, Melissa Long ’04* and Mary Serth ’92.

Washington, D.C.—Networking Reception hosted by Marty Stern ’80 (not pictured), partner, K&L Gates, on April 17, 2008. (Pictured from left): Simon Alumni Network leaders Kevin Sheldon ’04 and Stan Voudrie ’01.

Hong Kong—Simon Alumni Network of Hong Kong kickoff meeting held on August 17, 2007. Organized by Katrin Dziergwa ’07 (not pictured), the group hopes to embody the Chinese saying, “It is always a pleasure to greet new friends from faraway places” and expand to include “old friends within blocks.”

Mergers&Acquisitions


at Dun & Bradstreet in Arlington, Va. The couple lives in Fairfax, Va.

1999Andrew Strauch* and his wife, Bonnie, welcomed the arrival of their son, Matthew Avi, on December 8, 2007.

Matthew joins siblings, Blake and Eliana. Andrew is vice president of product marketing and management at MIKOH Corporation. He and his family live in Potomac, Md.

2002Mary Albee Bartlett* and her husband, Bob, welcomed the arrival of their daughter, Caroline Elizabeth, on September 26, 2007. Mary

is director, conference planning and operations, at The University of Memphis. She and her family live in Cordova, Tenn.

Michael Taylor and his wife, Jill, welcomed the arrival of their son, Max Michael

Frederic, on October 1, 2007. Michael is with Diamond Back Capital Management. He and his family live in Greenwich, Conn.

2003Melanie Huet and her husband, Sean, welcomed the arrival of their daughter, Elsa Ingrid, on February 14, 2008. Melanie is brand manager at Unilever. She and her family live in New York City.

Cindy Clusen Sherwood and her husband, Parker, welcomed the arrival of their son, Parker Bennett IV, on July 3, 2007. Cindy was

recently named executive director at Claxton-Hepburn Medical Center Foundation. She and her family live in Potsdam, N.Y.

2004Nicklas Weich and his wife, Mei Li, welcomed the arrival of their daughter, Vera Ky-Sin, on December 19, 2007.

Nicklas is senior manager, tactical pricing, at eBay

1989Gregg Edelmann* and his wife, Shelley Amiruddin Edelmann, B.A. ’91, welcomed the arrival of their daughter, Laila Ann, on August 22, 2007. Laila joins big sister, Sophia, 4. Gregg is with ExxonMobil. He and his family live in Kingwood, Tex.

1990Paul Caseiras and his wife, Gisele, welcomed the arrival of their daughter, Beatriz, on August 3, 2007. Paul is director, leveraged accounts, at Merrill Lynch. He and his family live in London, England.

1991Lynn Siverd and Greg Sullivan were married August 31, 2008. The wedding was at St. Gabriel’s Church in Hammondsport, N.Y., with a reception at Esperanza Mansion in Keuka Park, N.Y., overlooking Keuka Lake. Lynn is chief financial officer of the Association for the Blind and Visually Impaired–Goodwill of Greater Rochester Inc. Greg is managing director with Empire Valuation Consultants L.L.C.

1993Frank Lallos and his wife, Lisa, welcomed son, Matthew on April 15, 2007. They

celebrated Matthew’s first birthday in October. Frank, who was recently appointed vice president of finance at Pyramis Global Advisors, lives with his family outside of Boston, Mass.

1995Jack C. Pranzo and his wife, Lenore, welcomed the arrival of their twins, Chad and Quinn, on November 11, 2006. Jack is vice president

of finance at Gartner Inc. He and his family live in Redding, Conn.

1996Ian Christopher Carey married Colleen Ann Wisniewski in August 2006 in Newport, R.I.

Ian is director of market development at AT&T. He and Colleen live in Morristown, N.J.

1998Pelin Aylangan married Seckin Ozen, M.D., in September 2007 in Vienna, Va. Pelin is leader, government consulting,

Ralph R. (Roy) Whitney, B.S. ’57, M.B.A. ’73*

credits the analytical skills and best practices he learned at Simon with helping him understand and succeed in competitive financial climates. As chairman of Hammond Kennedy Whitney & Co. Inc. in New York City, a private equity investment firm where he oversees the Risk Committee, his group determines if each portfolio company is meeting defined expectations and operating plan objectives. “My position helps assure that the portfolio performs as expected by the limited partners,” he explains. “I also coordinate the strategic direction of the firm and help define our vision five years from now.”

Whitney heard about the Executive M.B.A. Program from the director of development for the University at the time, who thought he would qualify. He took advantage of the program in part because it was close to Syracuse and a plant he was running in Pennsylvania.

Whitney still runs into his favorite Simon professor and thesis advisor, Michael C. Jensen, now the Jesse Isidor Straus Professor of Business Administration Emeritus at Harvard Business School and managing director, organizational strategy and practice, The Monitor Group. “Mike was instrumental in focusing my attention on private markets, while using public ones for valuations,”

he notes. “His knowledge, insight and enthusiasm motivated me to keep digging and learning until I, too, respected valuation methodology.” Whitney also appreciated the way [the late Simon professor] Phillip T. Meyers made accounting come alive. “I remember him jumping up on a table and yelling, ‘Isn’t this the greatest stuff ever!’

“I’m convinced that Simon thrives on developing tomorrow’s leaders,” says Whitney. He believes that Simon teaches analytical skills, patience and clear thinking, all of which help students see the future by using the past and leading others in any business discipline.

Whitney and his wife, Fay, spend their leisure time boating in Florida, fishing in Wyoming and traveling. He just finished reading Alan Greenspan’s The Age of Turbulence and also enjoys taking in mysteries, westerns, stories about British sea victories and business books about unique people.“The farther I move in my career, the more I realize the debt I owe to those who helped me on my path,” he notes. “Each of us starts with relatively little and acquires skills from very unselfish people. I find it immensely rewarding to give back so that other young people will have the same opportunities I did.” SB

Alumni Leader Profile Ralph R. (Roy) Whitney, B.S. ’57, M.B.A. ’73*


Germany. He and his family live in Berlin, Germany.

2005Mario Luna Arroyo married Nelly Gonzalez on December 12, 2007, in

Monterrey, Mexico. Mario is senior project manager at Avaya Inc. in Monterrey; Nelly is marketing manager for Banregio Bank. They live in Guadalupe, Mexico.

Cory Fasold and Lyndie Siff welcomed the arrival of their first child, a daughter, Kendall Olivia, on March 30, 2008. Cory was recently

appointed finance manager at Pepsi-Cola North America in Purchase, N.Y.

Roger Hernandez and his wife, Rebecca, welcomed



2006Emily Aronstam married Jason Duga, B.A. ’99 on September 22, 2007, at Colgate Rochester Crozer Divinity School in Rochester, N.Y. Emily is a financial analyst at Xerox Corporation in Rochester, N.Y.; Jason is a financial advisor for Research Financial Group. They live in Rochester, N.Y.

Jim Eichinger and his wife, Kate, welcomed the arrival of their daughter, Sarah Jane, on February 25, 2008. Sarah Jane joins big sister, Emily Carol. Jim and his family live in Pittsford, N.Y.

Prakash Goswami and his wife, Srabani Das Goswami, welcomed the arrival of their daughter, Mahika, on March 18, 2008. Mahika

means “mother earth” in Sanskrit. Prakash is with Xerox Corporation in Rochester, N.Y.

Joseph Abrams ’74 believes that the value of his education grows

stronger the longer he has been out of school. “I’m still learning to appreciate the education I received 35 years ago,” he says, “and I can credit the Simon professors and fellow students with challenging me at a critical time of my life.”

Abrams’ career reads like a case study on entrepreneurship. In 1983, with his cousin, he cofounded a consumer software company in a Southern California garage. By 1994, that first start-up was netting $150 million in revenue, at which time it went public and was sold.

In 1999, he cofounded his second company, InterMix. “It was an early Internet company,” he says. “People would know it by our largest Web site, MySpace.” Abrams took that company public as well and sold it to NewsCorp in September 2005. Since then, he has worked with a close friend to take yet a third company—Akeena Solar—public.

“I’ve had the good fortune to be involved in the very early stages of three dynamic industries, with three great companies,” Abrams notes. Today, he works as an independent consultant with various small companies, usually in the very early stages of development. He also advises C.E.O.’s in all aspects of business development, financing strategies and high-growth management.

“When I was a student, Simon gave me an idea of what real-world competition looked like. That proved invaluable as I faced competitors in the burgeoning software industry,” Abrams notes. “I especially enjoyed my classes with [the late Simon professor] Karl Brunner. He was not only brilliant, but he fit my image of a kindly, nurturing professor.”

Abrams valued the analytical approach of his classes at Simon and the solid fundamental background he received in various business disciplines. “I’m amazed at how many top executives don’t have a basic understanding of finance, accounting and marketing,” he says. “These have been the precise skills I learned at Simon that have enabled me to tackle complex problems and achieve good results.”

In his spare time, Abrams runs 25 miles a week and has recently completed two full marathons and a half-marathon. He also enjoys reading books about high-achieving people in any discipline, particularly sports, business and science. SB

Alumni Leader Profile Joseph Abrams ’74

the arrival of their son, Braden, on November 28, 2007. Roger is an associate at Friedman Billings Ramsey. He and his family live in Irvine, Calif.

Brian Lloyd* and his wife, Anne, welcomed the arrival of their daughter, Kali Katherine Alice, on November 13, 2007. Brian is director, corporate strategy,

at Xerox Corporation. He and his family live in Webster, N.Y.

Vasilios Mihalitsas* and his wife, Tiffany, welcomed the arrival of their son, Will, on April 17, 2008. Will joins

big brother, Paul. Vasilios is a loss prevention consultant at Liberty Mutual Insurance Co. He and his family live in Hackettstown, N.J.

If someone had told Chetan Arun Narake when he was growing

up in Kolhapur, India (south of Mumbai), that he would become a business planning manager for Mars Inc., he wouldn’t have believed it. But what attracted him to the global candy-making powerhouse after earning his Simon M.B.A. was simple: “The candy!”

Mars is perhaps best known for its signature brands, including M&M’s, Milky Way and Snickers. But Mars also owns food, drink and pet care brands. In April 2008, Mars announced it was purchasing confectioner Wm. Wrigley Jr. Co. for $23 billion. The company recently joined the fight against obesity by introducing more nutritional products to its portfolio, including Cocoa Via, a line, the company says, of “heart-healthy chocolate snacks” containing flavanol, which studies show help improve blood flow and control cholesterol.

As part of the company’s finance manager development program, Narake will spend two years learning the business in five key areas: supply, demand, business planning, financial reporting, and cost and financial accounting. His first assignment as a business planning manager for Cocoa Via introduced him to all aspects of product development, including costing, pricing, marketing

and managing a $30 million budget. And he didn’t stop there. During his free time, Narake worked at the Hackettstown, N.J., plant where M&M’s are produced, where he learned about the candy-making process firsthand.

It’s a world away from his Wall Street internship in the corporate finance division of Morgan Stanley, but Narake welcomes the change. “Mars is a great company to work for,” he explains. “It’s more informal, and the managers are very approachable and open-minded. There is a lot of flexibility and room for personal and professional development.”

Narake’s life changed on both fronts in January 2008 when he married wife Snigdha in India. Upon their return, he began his second

assignment for Mars in Burr Ridge, Ill., outside of Chicago, where he is focusing on the supply side for the company’s ice cream products such as Dove, Twix, Snickers and M&M Treats. At the end of his rotational program, Narake is looking to work for the mergers and acquisitions division of Mars.

Narake credits his Simon M.B.A. for giving him the cross-functional skills and analytical framework necessary to understand all aspects of the business. Professor Gregg A. Jarrell continues to be a mentor to him.

In his spare time, Narake enjoys spending time with his friends and family, golfing and bowling. He is currently reading a biography of Rupert Murdoch. SB

Alumni Leader Profile Chetan Narake ’07



Pavel Romanov and his wife, Margarita, welcomed the arrival of their daughter, Nellia, on March 14, 2008. Pavel is with Deloitte & Touche. He and his family live in Madison, N.J.

2007Chris Domeny and his wife, Adrienn, welcomed the arrival of their son, Noah, on October 12, 2007.

Chris is associate vice president of design practice management at Bank of America. He and his family live in Glen Allen, Va.

Kovi Moodley and his wife, Taya, welcomed the arrival of their son, Bennett Luca, on January 7, 2008. Kovi is with Stern Stewart & Co. He and his family live in Bern, Switzerland.

Chetan Narake was married in India in January 2008. Chetan is finance manager with Mars Inc.

He and his wife, Snigdha, reside in Burridge, Ill. (See profile at right for more about Chetan.)

NotesClass

For some, a Simon education runs in the family. That’s certainly

the case with Russell Beyer ’82; his daughter, Danielle, B.A. ’05, M.B.A. ’06; and Danielle’s fiancé, Ross Briggs, B.A. ’05, M.B.A. ’06.

All three are actively building careers launched with a Simon M.B.A. Russell serves as vice president of planning and process at World Fuel Services, a fuel trading and logistics firm where he coordinates and follows up on the strategic direction of the company. Danielle recently joined an alternative investment firm, where she works on a business development and marketing team. Ross is a financial analyst at Houlihan Lokey, where his primary responsibilities are financial analysis and presentation.

Russell credits Simon with developing his analytical skills and conceptual reasoning of working business models that drive a competitive market economy. “In my career, I’ve found that the rigorous course of study at Simon equipped me to take on most technical and analytical business challenges and make sound decisions based on empirically sound concepts,” he says. Russell remains current in the international economic and political issues of the day and continually seeks how best to exploit information technology for business value.

Since Danielle’s position is marketing-oriented, she doesn’t directly use the

financial concepts she learned at Simon, but she does apply the time management and priority-setting skills she picked up there. Danielle, of course, learned about the Simon School from her parents (her mother attended the University of Rochester). “I attended Rochester as an undergrad, and then applied to the 3-2 program at Simon,” says Danielle. “It was my parents’ encouragement that motivated me to pursue my M.B.A. after my third year of college.”

Ross says that Simon gave him the theoretical training in finance, economics and accounting that he uses daily, plus the exposure to teamwork that is vital in the workplace. “As a chemical engineering major at the University, I hadn’t thought about the M.B.A. program until my junior year, when I began talking with Russell, my future father-in-law, about the program and took my

first economics class. I found Simon unique for its intimate size and the quality of its faculty.”

Danielle’s favorite instructors were James A. Brickley and Irfan Safdar, both of whom were engaging in the classroom and accessible outside of it. Ross particularly valued classes offered by Safdar, Gregg A. Jarrell, Charles I. Plosser and Ronald N. Schmidt. Russell enjoyed professors Clifford W. Smith Jr. and Jerold L. Zimmerman, and former Simon professor Ross L. Watts, all of whom were doing promising research that applied to their courses in corporate finance, accounting and economics.

In their spare time, Danielle and Ross like to travel and read. Ross also enjoys sports. Both Ross and Russell are currently reading Alan Greenspan’s The Age of Turbulence, and give it high marks. SB

Alumni Leader Profile Russell Beyer ’82; Danielle Beyer, B.A. ’05, M.B.A. ’06; Ross Briggs, B.A. ’05, M.B.A. ’06

1970Gene Murkison retired from Georgia Southern University at the end of 2007, and is now professor emeritus of management. He continues to write on executive selection and business history, and participates in numerous management and educational professional meetings in the United States.

1976Steve Hoffman has joined iJET Intelligent Risk Systems in Annapolis, Md., as chief executive officer.

1977Phil Fain has been named vice president of business development at Ultralife Batteries Inc. in Newark, N.Y.

1978Jon Schoonmaker has been named chief, technical programs and operations, for SAFE-BioPharma Assocation in Ft. Lee, N.J.

1984Bruce Wandelmaier was promoted from asset/liability manager to treasurer of Webster Bank in Waterbury, Conn.

1985Jon Van Duyne was appointed principal in the Information Technology practice of Booz Allen Hamilton in Atlanta, Ga., where he is assuming joint leadership of the Trade Promotion Effectiveness


Proud father Russell Beyer ’82 with daughter, Danielle, at Commencement 2006.

(T.P.E.) business. In this role, he will be responsible for hiring and building a new practice in addition to growing the number of clients and corresponding revenues. The practice focuses on Fortune 500 consumer products companies and capitalizes on his previous experience at Hewlett-Packard, Eastman Kodak Company, Bausch & Lomb and Sage Software.

1987Alexandra Kelly’s company, Powerchex Limited, won the Service Business of the Year Award at the national NatWest Startups Awards in England.

1988Eric Ball successfully defended his Ph.D. disserta-tion in management at Claremont’s Peter F. Drucker and Masatoshi Ito Graduate School of Management in September 2007.

Jeff Durbin joined Ouidad Holdings L.L.C. in New York City as chief financial officer.

Katherine McDermott was promoted from controller/chief accounting officer to chief financial officer at American Technology Corporation in San Diego, Calif.

Laura Mimken has taken a position as director, IT shared services, at GateHouse Media Inc. in Fairport, N.Y. GateHouse is one of the largest publishers


As both a student and professional, Daniel Hofer has

passionately embraced the view that the world is flat.

Early in Hofer’s career, it became clear that he wanted an international perspective. “After graduating in Switzerland, I spent a year in Paris, and later on, a year in Los Angeles to broaden my global horizons,” he says. “When I began looking at Executive M.B.A. programs, I was attracted to Simon’s Rochester-Bern E.M.B.A. program because of its distinguished faculty from leading American and European universities.”

Since 2006, Hofer has served as director of publishing and printing at Neue Zürcher Zeitung Ltd. (N.Z.Z.), one of the oldest (est. 1780) and most highly regarded publishing houses in Europe. In 2007, Hofer was promoted to the group management board of the firm.

Just last year, N.Z.Z. launched the N.Z.Z. Award for the best marketing group assignment completed in the Rochester-Bern E.M.B.A. program. As part of the Operations Management course, students can also spend an evening touring the state-of-the-art printing facilities of N.Z.Z.

Before joining N.Z.Z., Hofer was C.E.O. of the international division at Publigroupe Ltd., a leader in sales and marketing

for media owners with operations around the globe. He is well known for his motivational, cross-cultural leadership qualities and successes in turnaround and transformative climates. In addition to his E.M.B.A., Hofer has earned various degrees in marketing, sales and business administration, and holds a doctorate in business administration from the University of South Africa, Adelaide.

Though his professional commitments are time consuming, Hofer generously encourages potential M.B.A. candidates, mentors Simon students and supports the School by offering company visits. As a member of the Alumni Advisory Committee, Hofer also helps set priorities and strategies for the Simon

School. He is the proud recipient of Simon’s 2006 Distinguished Alumnus Award.

“At Simon, I benefited from excellent courses in finance, operations, strategy and many other disciplines,” Hofer says. “Simon taught me fact-based, analytical approaches

in solving managerial challenges, including complex, strategic problems in international business. Without a doubt, Simon was a milestone on my career path.”

Hofer and his wife enjoy worldwide travel and experiencing other cultures. “Our favorite places are in Asia, but we’ve visited South America and enjoy returning to the United States. This fall, we’ll be visiting the Carolinas and playing golf, a hobby that we’re passionate about and still learning.” Hofer also likes fine dining with friends, going to operas and concerts, watching movies and reading books on rainy Sundays. SB

Alumni Leader Profile Daniel Hofer ’98*




of locally based print and online media in the United States.

Dilip Sundaram was pro-moted to managing director, strategic initiatives —Asia Pacific, with responsibility to develop and implement new business in the region for ArvinMeritor Inc. He will be relocating to Shanghai, China, in the fall with his family.

Karl Withers was named associate vice president of marketing for the University of Rochester Medical Center in Rochester, N.Y.

1989Jiang-Hong G. (Jeff) Liu was promoted to president of Chinatrust Bank (U.S.A.) in Torrance, Calif.

1992Andrew Greenberg has been named a principal

with Edward Jones holding company in St. Louis, Mo.

1994Maxime Elbaz* accepted a position as chief executive officer of Geospatial Systems Inc., a Rochester, N.Y.-based company leading in the design and production of high-end aerial mapping and persistent surveillance systems for military and commercial remote-sensing applications.

Carla Vaccaro became owner of Cold Stone Creamery in Webster, N.Y., and Victor, N.Y.

1995Susan Topel-Samek* has been named treasurer at Bausch & Lomb in Rochester, N.Y.

1996Commander Nathan Martin* is being

commissioned to take command of a nuclear submarine.

1998Pelin Aylangan was recently promoted to leader, government consulting, for Dun & Bradstreet in Arlington, Va.

Karl Dueland* was appointed vice president, Fuji Xerox XGS Business Development, in Rochester, N.Y.

Jae-Gwang Soh was promoted to managing director at Shinhan Card in Seoul, South Korea.

Russell Weybright* was featured on the cover and in an inside article (“Chain Reactions”) in Minnesota Technology Magazine.

1999Francisco Garcia* was named finance director for Honeywell Turbo Technologies in São Paulo, Brazil.

2000Holly Clark Blanchard, chief financial officer, United Way of the National Capital Area, was a finalist and the youngest nominee in the first annual Awards for Financial Excellence given by The Washington Business Journal.

Aaron Cullen was promoted to manager, corporate finance, at Northeast Utilities in Bristol, Conn. Before his promotion, he was assigned corporate credit risk res-ponsibilities for the Northeast Utilities System companies.

2003Lei Tan was honored for

excellence in administrative duties for the New York Fire Department Pension Fund on November 19, 2007.

2004Mike Camarella was promoted to associate portfolio manager at OppenheimerFunds in Rochester, N.Y.

Jon Scahill was named president and chief operations officer of Quest Patent Research Corporation, a New York City-based intellectual property asset management firm.

2006Danielle Beyer joined Mariner Investment Group L.L.C. in Harrison, N.Y., as an analyst in business development.

Eli Hale is teaching an advertising course at the Savannah College of Art & Design in Savannah, Ga.

Chris Johnston was promoted to associate director of corporate relations at the University of Rochester. Chris is responsible for developing and maintaining University relations with local and national companies while encouraging them to invest in our research, students and University initiatives. Matt Rice was promoted to manager, business development, at Constellation Brands Inc. in Fairport, N.Y.

2007Matt Dankner joined Beers & Cutler as a consulting associate in Vienna, Va.

Rochester-Bern Executive M.B.A. Program Update To adapt to a shift in market demand, the Rochester-Bern Executive M.B.A. Program has reduced its summer residency in Rochester from nine to six weeks and introduced a capstone business-plan project connected to its educational trip to Asia.

The summer residency in Rochester is one of the highlights of the program. However, many candidates found it difficult to explain the necessity of nine weeks absence from work to their employers. “Reducing the Rochester stay from nine to six weeks simplifies the negotiations with the employers,” says Petra Joerg, managing director of the program in Switzerland. “We expect more candidates to join our program due to this change.”

Another important improvement is the introduction of a so-called capstone project at the end of the program. The capstone project gives students the chance to write a business plan for an international company operating in Asia or somewhere else in the world. It requires them to use all the knowledge they have acquired in the program as well as the techniques gained from a business-plan workshop with Professor Ron Schmidt and cultural insights from the China seminar. “Many of the ideas for the business plan projects will be born in the companies students work for,” says Joerg. “The project therefore also offers a direct payback for the sponsors.”

Both changes, combined with a restructuring of the organiza-tion and intensified recruiting activities, led to an increase in student numbers from 25 to 37 for the incoming class of 2008–09. A further rise is expected for the class starting in 2009.

—Claudia Sant’Andrea

Visit: www.simon.rochester.edu/virtualstore

We are carrying over 25 Simon-branded products! You will find golfumbrellas, polo shirts, clocks and more!

Simply go to the Web site, www.simon.rochester.edu/virtualstore, indicatewhich product you want, and order through the secure server. You can also fax your order to: (585) 383-8417. Items will be shipped within 48 hours! Inter-national delivery is also available.

Visit the “Simon School Virtual Store”

http://www.simon.rochester.edu/virtualstore

http://www.simon.rochester.edu/virtualstore

Change Service Requested

William E. Simon Graduate School of Business Administration

Rochester, New York 14627

Simon is happy to be hosting recruiting events for its corporate partners in New York City, Boston, Mass. and Washington, D.C.

Why participate?

• Events are free to our corporate partners

• You select the students—we’ll take care of the rest

• Interview terrific talent without getting on a plane—you can leave your shoes on!

The Simon Graduate School of Business at the University of Rochester announces its 29th year in the City.

Off-campus recruiting events in New York City, Boston and Washington, D.C.

Dates for off-campus recruiting in 2009:Boston Recruiting Connection (B.R.C.) Friday, January 23, 2009, Hilton Boston Financial District

New York Recruiting Program (N.Y.R.P.) Friday, January 30, 2009, Doubletree Guest Suites—Times Square

Washington, D.C. Recruiting Program (D.C.R.P.) Friday, March 6, 2009

Schedule for all events:7:00–9:00 a.m. Continental Breakfast 8:30 a.m.–4:30 p.m. Interviewing ProgramNoon–1:00 p.m. Recruiter Luncheon

To learn more about or register for these events, contact:

Karen Kingsbury

Corporate Relations Marketing Manager

Career Management Center

Simon Graduate School of Business

University of Rochester

(585) 273-3094

[email protected]


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