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									                                                                   SPRING 2004




            Outlook
SCHOOL of BUSINESS ADMINISTRATION                              A Magazine for Alumni and Friends




             Keith Nosbusch • Rockwell Automation • MBA 1978         Don Hamm • Assurant Health • MS 1989




                Mark Williams • Ernst & Young • BBA 1974        Sister Lois Bush • Ministry Health Care • EMBA 1989




                                                           Impacting Wisconsin Leadership
                                                                                    Executive MBA
                                                                             Thirty Years of Excellence
                                               Intern Sets Sights on Entrepreneurship
Our Vision
Our vision is to become a leading urban business school recognized for high quality
teaching and research that advances student learning, managerial careers, and the
frontiers of management knowledge. We will build upon our internationally recognized
research to contribute to the economic future of Milwaukee, the region and beyond.


Published by the School of Business Administration,
University of Wisconsin-Milwaukee, as a source of information
for alumni and friends.


V. Kanti Prasad, Dean



Editor:
Kristine Piwek

Graphic Designer:
Lesley M. White

Contributor:
Patricia Arnold

Photos:                                                                               For Further Information:
UWM I&MT Visual Imaging
H/O Photographers                                                                     BBA Program                              (414) 229-5271
Northwestern University                                                                                                     uwmbba@uwm.edu

                                                                                      MBA/MS Program                       (414) 229-5403
Comments are welcomed.
                                                                                                                   uwmbusmasters@uwm.edu
Please direct all correspondence to:
Outlook
UWM School of Business Administration                                                 PhD Program                            (414) 229-4542
P.O. Box 742                                                                                                           uwmbusphd@uwm.edu
Milwaukee, WI 53201-0742
or to kpiwek@uwm.edu                                                                  Executive MBA Program                      (414) 229-5738
                                                                                                                                emba@uwm.edu

                                                                                      Executive & Custom Programs             (414) 229-6519
                                                                                                                     execprograms@uwm.edu

                                                                                      Career Services                          (414) 229-5445
                                                                                                                     careerserv@sba.uwm.edu

                                                                                      Visit our Web site at:
                                                                                      www.uwm.edu/Business




The University of Wisconsin–Milwaukee, in compliance with Titles VI and VII of the Civil Rights Act of 1964, Title IX of the Education Amendments for
1972, Sections 503 and 504 of the Rehabilitation Act of 1973, the Age Discrimination in Employment Act of 1967 and Section 402 of the Vietnam
Era Veterans Readjustment Act of 1974, does not discriminate on the basis of race, color, national origin, religion, sex, handicap, age or Vietnam era
veteran’s status in any of its education or employment policies, procedures or practices.
                                            Outlook
                       In this issue:

                       Dean’s Message ......................................................................2

                       Zore to Lead Business Advisory Council ....................................3

                       EMBA Program: Thirty Years of Excellence ................................4
3
                       Impacting Business Leadership in Wisconsin ..............................8

                       Alumni Awards......................................................................13

                       Hubbard Optimistic About Economy ........................................14

                       IMF Official Discusses Global Prosperity ..................................15

                       Fitzsimonds Lecture Hall Named..............................................16

                       The WTO and Trade in Services ............................................17
14
                       Fall Research Seminars ..........................................................18

                       In Memoriam: Kurtis P. Klumb ................................................19

                       Faculty Kudos........................................................................20

                       Nonprofit Management Awards ..............................................21

                       Future Entrepreneur: Yueqi Lisa Wang ....................................22

                       Delgado Addresses Honors Students........................................24
22
                       Student Investment Club Second in Competition ........................25

                       2003-04 Scholarships............................................................26

                       Honor Roll of Donors ............................................................27


WWW.UWM.EDU/BUSINESS                                                              Spring 2004 OUTLOOK 1
Message from THE DEAN
                        Message from the Dean

                                                               T      he old saying, “the more things change, the more they stay the
                                                                      same,” is a phrase that really can’t be applied to business. In
                                                               fact, a hallmark of the new competitive environment is that change is
                                                               the norm. And to remain on top, businesses will increasingly need to
                                                               act as flexible and agile organizations.
                                                               As business educators in this environment, our challenge is to
                                                               prepare our students not only with the requisite knowledge in
                                                               business management, but with the crucial capabilities they will need
                                                               to adapt to and lead in rapidly changing business and economic
                                                               conditions – including innovation, global orientation, team building,
                                                               and the ability to integrate information technology into all levels of
                                                               business, to name just a few.
                                                               How we educate and prepare students – and the orientation we give
                                                               them to the large and complex world of business – are keys to their
                                                               individual successes, as well as to the success of our nation’s
                                                               economic future.
                                                               This issue of Outlook highlights some of our “success stories” –
                                                               graduates who are making a difference in Wisconsin business today –
                                                               as well as some initiatives that will play a major role in developing
                                                               tomorrow’s successful leaders.
                                                               First, we profile the UWM Executive MBA Program – the most
                                                               established EMBA program in Wisconsin – which is celebrating 30
                                                               years of excellence this year. The past three decades have produced
                        Dean V. Kanti Prasad
                                                               more than 800 EMBA alumni through a unique, high-level executive
                                                               curriculum experience. We are delighted to celebrate the long-
                                                               standing record of success of Wisconsin’s first Executive MBA
                                                               program.
                                               Next, we look at four UWM business graduates who are prominent executives in
                                               major Wisconsin businesses – Sister Lois Bush of Ministry Health Care, Don Hamm of
                                               Assurant Health, Keith Nosbusch of Rockwell Automation, and Mark Williams of
                                               Ernst & Young. Spanning the fields of health care, advanced manufacturing, and
                                               business services, these individuals provide shining examples of the achievements of
                                               our talented alumni!
                                               We also highlight the promise that the future brings – learning about the
                                               entrepreneurial aspirations of business senior Yueqi Lisa Wang, and the notable 2003
                                               achievements of the UWM Student Investment Club.
                                               The more things change ……. the harder the UWM Business School and our alumni
                                               will work to step up to the challenge!




                                               V. Kanti Prasad
                                               Dean




         2 OUTLOOK Spring 2004
Northwestern Mutual’s Zore to Lead




                                                                                                                                       ADVISORY Council
Business Advisory Council

E      dward J. Zore, President and
       Chief Executive Officer of
Northwestern Mutual, takes over the
                                                                                          great companies and great opportunities,
                                                                                          and having a high quality, world class
                                                                                          business school locally at UWM is an
presidency of the School’s Business                                                       incredible resource.”
Advisory Council this month, succeeding
Dennis Kuester, President & CEO of                                                        A West Allis native and UWM economics
Marshall & Ilsley Corporation, who has                                                    graduate (’68, ’70), Zore joined
served with distinction as council                                                        Northwestern Mutual as a stock trader
president for the last five years.                                                        fresh out of college in 1969 and held
                                                                                          various investment positions within the
“We are truly honored to have Ed Zore                                                     firm over the next 28 years. During the
serve in this leadership position with the                                                1990’s, he ascended to serve as NM’s
School,” said Dean V. Kanti Prasad. “Ed                                                   chief investment officer, chief financial
has a passion for business, a passion for                                                 officer, and executive vice president. He
Milwaukee, and a passion for UWM.”                                                        was elected to the company’s board of
                                                                                          trustees in February 2000, and became
“I grew up at the University of                                                           Northwestern Mutual’s 16th president in
Wisconsin–Milwaukee,” Zore said. “I’ve                                                    March of that year. He added the
been involved with UWM in some                                                            responsibilities of CEO in August 2001.
capacity, either as an undergraduate, a
                                             Edward J. Zore,
grad student, or in various advisory roles                                                A director of numerous Northwestern
for a good part of my life. There’s a lot    President and CEO, Northwestern Mutual       Mutual companies, Zore also serves on a
of UWM in me, and there’s a lot of me in     President, Business Advisory Council         variety of boards within the insurance
UWM. It’s a great institution.”                                                           industry, and as a member of the board
                                                                                          of directors of Manpower Incorporated.
Zore looks forward to working closely
with the Dean and the Advisory Council                                                     He is extensively involved in the
as the School moves into the future.                                Milwaukee business community and other community
                                                                    organizations, including the Greater Milwaukee Committee, the
“It will be increasingly important in a competitive and complex     Metropolitan Milwaukee Association of Commerce, Competitive
world to have highly educated, motivated and professional           Wisconsin, the United Way, Children’s Hospital of Wisconsin, the
people available to get the job done,” said Zore. “Wisconsin has    Medical College of Wisconsin, Froedtert Health System,
                                                                    Wisconsin Policy Research Institute, the Susan G. Komen Breast
                                                                    Cancer Foundation, the United Performing Arts Fund, and the
                                                                    YMCA of Metropolitan Milwaukee.
             “I grew up at the University of                        An active member of the UWM community, as well, Zore joined
     Wisconsin–Milwaukee,” Zore said. “I’ve been                    the Business Advisory Council in 1988. He has also served as a
                                                                    Director of the UWM Foundation from 1989 through 1998, and
    involved with UWM in some capacity, either as                   as the Foundation’s President from 1994 to 1996.
   an undergraduate, a grad student, or in various
 advisory roles for a good part of my life. There’s a lot
   of UWM in me, and there’s a lot of me in UWM.
                 It’s a great institution.”




WWW.UWM.EDU/BUSINESS                                                                                         Spring 2004 OUTLOOK 3
                Executive MBA Program:
Executive MBA
                THIRTY YEARS OF EXCELLENCE
                In 1974, the Executive MBA Program at the
                University of Wisconsin-Milwaukee School of Business
                Administration was inaugurated as Wisconsin’s first
                Executive MBA program. Thirty years and more than
                800 graduates later, the UWM Executive MBA
                Program is now firmly established as one of the most
                successful programs in the nation. In 2004, we
                celebrate Thirty Years of Excellence!


                W          hen the UWM Executive MBA program was
                           launched in 1974 – the first executive curriculum in
                Wisconsin and among the youngest in the nation – the
                business world was a different place.
                The concept of “information technology” as we know it now –
                crucial to business effectiveness and productivity – was still in
                its embryonic stage. International business was generally the
                domain of the largest corporations. Corporate board and
                accounting procedures were not under the high-powered
                magnifying glass they are today. And who could even have
                imagined the phenomenon of the “dot-com?”
                                                                                    Allan J. Klotsche, Jr., Vice President of Brady Asia Pacific,
                “The primary objective of the Executive MBA program is to
                                                                                    Executive MBA Class of 1994
                help experienced managers become leaders who possess the
                knowledge, the global and strategic perspectives, and the
                vision to lead their organizations in this complex and
                                                                                    “Companies of almost any size and scope must have an
                constantly changing environment,” said Mark A. Mone,
                                                                                    international strategy, whether it be offensive or defensive,”
                Associate Dean for Executive Programs.
                                                                                    said Allan J. Klotsche, Jr. (Class of ’94), Vice President of Brady
                “In this context, the success and longevity of the UWM              Asia Pacific. “The marketplace has become extremely global,
                Executive MBA program is due to a large extent to our               and Brady and other companies look for managers and
                dynamic curriculum – one that allows us to adapt to changes         executives with a broad understanding of the dynamic
                so that we can better meet the needs of our executive               international business environment. UWM has recognized this
                students,” stated Mone.                                             shift and built it solidly into their curriculum.”

                While the program as a whole is evaluated every few years,          “How business decisions are affected by a shrinking world
                incremental changes are essential to keeping the program            enters into just about every phase of business,” said Program
                fresh and relevant, Mone said. Recent changes include the           Director Guy Johnson. “Because of this, international issues
                addition of “virtual team” projects and a course examining          have to be addressed throughout the Executive MBA
                new business development.                                           curriculum, as well – from finance and accounting to
                                                                                    leadership and management issues.”
                Increased Emphasis on Globalization                                 In addition, a stand-alone international business course is
                A more substantial development in the program in recent             capped with a nine-day international residency. Since 2000,
                years is the integration of global business issues throughout       Executive MBA classes have traveled to China, the United
                the curriculum.                                                     Kingdom, France, Italy, and the Czech Republic.




     4 OUTLOOK Spring 2004
“While classroom discussions and business simulation are a




                                                                                                                                      EXECUTIVE MBA
beneficial part of the curriculum, nothing can take the place
of experiencing this environment first-hand,“ stated Klotsche.
“The international residency program provides a great chance
for students to raise their level of awareness of both business
opportunities and risks.“
The international residency includes visits to universities as
well as corporations. Of central relevance to the corporate
visits are meetings with senior management teams. These
discussions allow EMBA students to learn the business
strategies employed at these multinational operations.
Host companies – a number with Milwaukee-area ties – have
included Brady Corporation, 3M, PricewaterhouseCoopers,
Rockwell Automation, S.C. Johnson, Ford-Jaguar, Milsco,
and Kohler.

A Unique Experience
The UWM Executive MBA program is not only a high-level
graduate business program. It is also a unique learning and
professional development experience that has gained in
stature and reputation over the years.
“Like every business, we need talented, highly educated
members of management,” said Edward J. Zore, President &
CEO of Northwestern Mutual. “This is an excellent program.
And having it available locally is a great advantage for us as we
develop our leadership pool.”                                       James Ziemer, Vice President and CFO, Harley-Davidson
                                                                    Motor Company, Executive MBA Class of 1986
“From the profile of students admitted into the EMBA
program to the tenure and experience of the professors, UWM
has again set the standard for quality,” added Brady’s Klotsche.
                                                                    as up-and-coming leaders of organizations. Meeting on
                                                                    alternating Fridays and Saturdays, the program allows for a
                                                                    minimum of disruption to students’ work responsibilities.
          “Like every business, we need talented,                   Class members learn not only from a challenging curriculum
                                                                    taught by UWM’s experienced executive faculty, but from each
     highly educated members of management,” said                   other, as well.
   Edward J. Zore, President & CEO of Northwestern                  “To maximize the learning experience for Executive MBA
 Mutual. “This is an excellent program. And having                  students, we make every effort to facilitate and encourage a
                                                                    peer learning environment,” said Guy Johnson.
    it available locally is a great advantage for us as
                                                                    For example, at the outset of the program, students are
              we develop our leadership pool.”                      divided into study teams. Study team members – who
                                                                    represent a mix of professional experience and industry
                                                                    expertise – work together for the duration of the program.
The EMBA program differs from the standard MBA in that it           As these high-level peers progress together through the
engages a cohort of experienced, mid-career managers in a           curriculum, Johnson said, a dynamic learning environment
rigorous, four-semester curriculum – with the summer off –          develops.
that provides students with new insights and new approaches
                                                                                                             Continued on next page




WWW.UWM.EDU/BUSINESS                                                                                         Spring 2004 OUTLOOK 5
                                                                                 “Certainly, many classmates maintain the bonds that they
Executive MBA
                                                                                 developed during the program on their own,” said Margaret
                                                                                 Hines-Goetzinger (Class of ’98), Owner and Principal
                                                                                 Consultant of Inspire Marketing, and President of the
                                                                                 Executive MBA Alumni Association, “for both personal and
                                                                                 professional reasons.”
                                                                                 “But particularly because of the unique nature of the program,
                                                                                 we have an active alumni group that maintains the momentum
                                                                                 of that camaraderie and networking on a more structured
                                                                                 basis,” said Hines-Goetzinger. Through annual programming
                                                                                 that includes cultural events, executive roundtables, seminars,
                                                                                 and social events, the association provides an important forum
                                                                                 for continued professional development and networking
                                                                                 among alumni.
                                                                                 “There really is a ‘wow’ factor to the network when alumni
                                                                                 recognize the depth and breadth of the professionals that are
                                                                                 represented by the EMBA alumni who span the 30 years of the
                                                                                 program – a group that now totals more than 800,” added
                                                                                 Hines-Goetzinger. “It is a fantastic network.”

                                                                                 Faculty Experienced in the
                                                                                 Executive Setting
                                                                                 The longevity of the program also translates into a highly
                                                                                 experienced EMBA faculty, adept at leading a classroom full of
                Paul Nystrom, Professor of Management                            executives.
                                                                                 “UWM’s Executive MBA faculty have a full toolbox – subject
                                                                                 matter expertise, industry experience, and solid academic
                And that learning environment has an impact beyond the           credentials,” said Mone. “But they also possess years of
                classroom.                                                       classroom experience with executives. That allows them to
                                                                                 help EMBA students address contemporary challenges – and
                “Our study team operated as a multifunctional support team
                                                                                 ultimately improve their businesses.”
                representing diverse disciplines and perspectives,” said James
                Ziemer (Class of ’86), Vice President and CFO of Harley-         One of those faculty members – Management Professor Paul
                Davidson Motor Company. “Working with my study group             Nystrom – has taught every class of EMBA students since the
                showed me the value of networking, collaborating, and team       program’s inception. In this unique capacity, he has seen first-
                support, while training me to try to understand problems from    hand the changes in the program.
                different points of view. It became obvious to all of us that
                many inputs from different perspectives resulted in a better     “Certainly from a curricular viewpoint, the program has
                solution to the case studies we were analyzing.”                 undergone many changes over the years,” he said. Technology
                                                                                 – and even the physical setting of the state-of-the-art executive
                “It was a great model for me to take into the business arena,”   classroom, Nystrom added – have had a notable pedagogical
                said Ziemer.                                                     impact on the program .

                Active Alumni Network                                            “In industry, we have seen an increasing emphasis on team-
                                                                                 based approaches, and that’s reflected in the way we teach,” he
                The professional and personal relationships that form in the     noted. “We’re fortunate to have a fabulous executive
                Executive MBA classroom extend beyond the timeframe of the       classroom that encourages interaction – as well as additional
                program. Through individual efforts and an active alumni         conference rooms that facilitate work in small groups or
                association, EMBA alumni reap the benefits of an established     teams.”
                professional network.




     6 OUTLOOK Spring 2004
The types of companies represented in the program have               of doing things – and they often go right back to their




                                                                                                                                        EXECUTIVE MBA
changed also, mirroring the changes in Wisconsin’s economic          organizations, implement what we’ve talked about, and report
landscape. “Where the program tended to attract students             back.”
from large manufacturing firms in its early days,” Nystrom
said, “more recent classes represent a mix of manufacturing          “It is a dynamic, invigorating environment,” he said.
and service, and include more medium-sized and smaller
ventures. That diversity adds dimension to the class.”
A constant in the program, according to Nystrom, is the
                                                                     Executive MBA Alumni –
quality of the students.                                             Mark Your Calendar!
“As a faculty member, it’s exciting to work with Executive MBA          The Executive MBA Grand Reunion – celebrating
students,” he said.
                                                                        the program’s 30 Years of Excellence – will be held
“Of course, each class has a different character to it, but as a
whole, this group shares some commonalities,” Nystrom                   on Saturday, October 16, 2004. Please hold the
continued. “EMBA students are intellectually curious.                   date – details will be sent out soon!
They’re willing to entertain new ideas and consider new ways




Spring Brings Recruiters to Campus
                                                          Forty-one companies and over 400 business students attended the Business
                                                          School’s 4th Annual Business and Technology Career Fair in February. The
                                                          Career Fair offers students and employers from various industries the
                                                          opportunity to meet informally and make contacts that may lead to future
                                                          employment. Organized by the Business School’s Career Services Center,
                                                          the fair is one of a series of services offered by the Center for students,
                                                          alumni, and employers, including on-campus interviews, internship
                                                          placements, resume referrals, job postings, resume and interviewing
                                                          workshops, company information sessions, and an alumni placement service.
                                                          More information on the Career Services Center can be found at
                                                          www.uwm.edu/Business/resources/career.




WWW.UWM.EDU/BUSINESS                                                                                               Spring 2004 OUTLOOK 7
      The UWM Business School:
      IMPACTING BUSINESS LEADERSHIP
      IN WISCONSIN
      The “core business” of the University of Wisconsin–Milwaukee School of Business

      Administration is developing management professionals and business leaders who make a

      difference for Wisconsin – and beyond the state’s borders, as well.

      In its relatively young history, the UWM Business School has made a tremendous mark on

      Wisconsin’s professional workforce. About 70% of the more than 20,000 UWM business

      alumni have remained in Wisconsin – and most of those alumni live and work in

      Southeastern Wisconsin.

      UWM business alumni have extensive reach in professional and management positions in

      our state’s economic hub in Southeastern Wisconsin – impacting productivity, job creation,

      and business strategy through their managerial and leadership talents. “Our graduates

      play key roles throughout this business community,” said Dean V. Kanti Prasad, “and

      have considerable influence on the Wisconsin economy.”

      Four of those alumni – respected Wisconsin business leaders Sister Lois Bush of Ministry

      Health Care, Don Hamm of Assurant Health, Keith Nosbusch of Rockwell Automation,
      and Mark Williams of Ernst & Young – are highlighted on the following pages.

      “When you are in the business of educating, your greatest achievement is your graduates

      and their accomplishments,” said Prasad. “It’s very gratifying to recognize the many

      thousands of UWM Business School graduates who are making significant contributions as

      Wisconsin business leaders.”




8 OUTLOOK Spring 2004
Alumni Profile
SISTER LOIS BUSH
Senior Vice President, Mission & Culture Integration




                                                                                                                                          IMPACTING BUSINESS LEADERSHIP IN WISCONSIN
Ministry Health Care
Executive MBA, 1989


Sister Lois Bush tells a fascinating career story.
She spent the early part of her career in the nursing
profession – starting as a Staff Nurse at St. Joseph’s Hospital
in Marshfield on a cardiovascular and general surgery unit,
then progressing to Head Nurse. After earning a masters
degree in nursing in the mid-70’s, she began to climb the
ladder in nursing administration, eventually becoming the
Vice President of Nursing at Mercy Medical Center in
Oshkosh. In 1983, her order elected her Assistant
Provincial.
“It was during this time that we created Ministry Health Care
– which was my project,” said Sister Lois. “We pulled all of
the stand-alone hospitals together under one umbrella to
ensure that values were carried out and to achieve
efficiencies,” she said. Ministry Health Care was
incorporated in 1984, and Sister Lois was named Chief
Executive Officer of the system in 1986.
Today, Ministry Health Care is a leading network of
hospitals, clinics, and other health-related organizations,
with 2,500 physicians and 10,000 health care professionals
and support staff. The network has approximately $1 billion
in annual revenue. In the Milwaukee area, Ministry operates             organization as Senior Vice President of Mission and Culture
Agape Community Center – a social service organization                  Integration. And she’s been at it ever since.
serving the city’s northwest side – but most of its affiliated
hospitals and other services are located in the northern and            As a Catholic, nonprofit health care system, Ministry’s mission
northwestern part of the state, as well as in Minnesota.                is to improve the health and well-being of individuals,
                                                                        particularly the poor. “I oversee everything that focuses on
Not long after becoming Ministry’s CEO, Sister Lois entered             that mission to ensure that it is integrated into our daily
the UWM Executive MBA program to gain formal                            operations,” she stated.
management education that would add to her already-proven
effectiveness.                                                          Much of that responsibility lies in helping to develop
                                                                        Ministry’s administrative and physician leaders. Sister Lois
“Even though I had a number of years of management and                  and her staff perform annual talent reviews, provide regular
executive experience under my belt, I really gained from the            coaching, conduct leadership development programs, and
EMBA courses,” she said. “And my classmates – who came                  benchmark against top companies. “Ministry wants to lead the
from a host of different backgrounds and businesses – were              market in the area of leadership,” she said.
fantastic professional resources and provided me with much
support.”                                                               “Because our leaders drive the culture, we need to help them
                                                                        grow and develop,” noted Sister Lois. “In the role I play at
Working 60 hours per week in her “day job” at the time she              Ministry, I am able to see amazing changes and development
was an EMBA student, Sister Lois said, “I learned quickly how           in our leaders. And it’s a wonderful feeling when they realize
to delegate, and I’ve carried that out to this day!”                    that someone cares about their development,” she said.
But a dozen years later, Sister Lois felt that the top job wasn’t her   “This is so much fun, I’d do it for nothing, “ she said. “You
“life’s calling.” She groomed Ministry’s CFO, Nick Desien, for          can go ahead and print that – I’ve said it to our CEO before!”
the CEO position, took six months off, and returned to the


WWW.UWM.EDU/BUSINESS                                                                                              Spring 2004 OUTLOOK 9
                                             Alumni Profile
                                             DON HAMM
IMPACTING BUSINESS LEADERSHIP IN WISCONSIN




                                             President & CEO
                                             Assurant Health
                                             MS-Health Care Management, 1989


                                             The continuing escalation of health care costs is an
                                             issue employers and individuals grapple with on a daily
                                             basis.
                                             Don Hamm, President & CEO of Assurant Health,
                                             deals with the issue every day, as well. But as a supplier
                                             of individual and short-term health insurance policies,
                                             his firm positions its health insurance products as
                                             important options that give consumers more control
                                             over their health care spending.
                                             “With the upward trend in health care costs
                                             continuing,” said Hamm, “people are becoming more
                                             attracted to the types of products we offer.”
                                             Hamm sees the firm that he heads not only as a niche
                                             insurance provider with a long track record of success,
                                             but as part of a larger picture.
                                              “Health care is a tremendously significant part of our
                                             economy – representing about a sixth of the U.S. gross
                                             domestic product,” Hamm said. “As part of this industry, we          When he entered the MS-Health Care Management program at
                                             need to be responsible, and do it in a way that provides value       the UWM Business School in 1984, Hamm was already heading
                                             through our products.”                                               up the executive ladder as Senior Vice President at Time
                                                                                                                  Insurance. “I knew a lot about the health insurance industry,
                                             Assurant Health (formerly Fortis Health) sells individual            but not as much as I wanted to about how health care works in
                                             medical, small-group, short-term, and student health insurance       this country,” said Hamm. “The UWM program was fabulous
                                             products. The firm serves 1 million clients nationwide and           and gave me tremendous insights into health care from a
                                             posted 2003 revenues of about $2 billion. Eighteen hundred of        management perspective.”
                                             its 3,000 employees are headquartered in Milwaukee. Assurant
                                             Health is one of four operating divisions of Assurant, a financial   Pursuing his degree part-time for five years – while meeting the
                                             services company based in New York that was part of a Dutch          demands of his executive position and a growing family – was a
                                             financial conglomerate until a February 5 initial public offering    challenge, but “well worth the effort,” he said. “It was really an
                                             on the New York Stock Exchange.                                      enjoyable experience,” Hamm said of his graduate studies. “I
                                                                                                                  learned so much from my professors. I truly appreciated not
                                             A New York native, Hamm and his wife had visited family in           only their abilities, but how accessible they were to me – they
                                             Milwaukee prior to moving here over 20 years ago, and were           really personalized the experience I had at UWM.”
                                             impressed with what the city had to offer. In 1982, an actuarial
                                             position with Time Insurance allowed them to set down both           Hamm encourages students today to “embrace the
                                             their family and career roots here.                                  educational experience – the whole realm of it.”

                                             After a little over a decade with the firm, Hamm joined William      “Students should be academically curious, but they should also
                                             M. Mercer as an actuarial consultant. “The challenge and             be proactive about developing their leadership and
                                             diversity of assignments I had as a consultant really broadened      managerial skills,” he said. “Getting to know other students
                                             my experience and allowed me to learn a great deal.”                 and faculty, becoming involved in organizations on campus,
                                                                                                                  gaining work experience through student internships –
                                             He rejoined Fortis in 1999 as Senior Vice President and Chief        students need to make sure these elements are also part of
                                             Financial Officer, and was promoted to President in September        their business education.”
                                             2002 and Chief Executive Officer a few months later.



                                   10 OUTLOOK Spring 2004
Alumni Profile
KEITH D. NOSBUSCH




                                                                                                                                   IMPACTING BUSINESS LEADERSHIP IN WISCONSIN
President & CEO
Rockwell Automation, Inc.
MBA, 1978


Keith D. Nosbusch – the new President & CEO of Rockwell
Automation, Inc. – recently read a quote from the Founder
of Federal Express, Fred Smith: “Change is short-hand for
opportunity.”
“I couldn’t agree more,” said Nosbusch.
Rockwell Automation is a global leader in industrial
automation power, control, and information solutions. It
acquired Milwaukee’s venerable Allen-Bradley Company in
1985 for $1.65 billion. Through a series of spin-offs and key
acquisitions, it has evolved into the industrial automation
powerhouse it is today. One of Wisconsin’s largest
companies, Rockwell employs over 21,000 people worldwide,
including 5,000 in Wisconsin. With its world headquarters
in Milwaukee, the company’s annual corporate revenues
exceed $4 billion.
Nosbusch began his career in 1974 at Allen-Bradley as an
application engineer, and got his first promotion that same
year. He continued his ascent through the management and
executive ranks throughout the next decades. In 1998, he
was named President of Rockwell Automation Control
Systems, which thrived under his leadership. He assumed
his current role in February of this year.                        The insights Nosbusch gained in UWM’s MBA program play
                                                                  an important role in how he approaches business to this day.
Glancing at his career history, it’s clear that Nosbusch is a
company man – but, by far, not a static one. Nor has the          “Dean Prasad – who at the time was one of my professors – got
company been, said Nosbusch.                                      me excited about marketing – the four P’s (product, price,
                                                                  place, and promotion), and their importance in achieving
“I’ve worked for the same company for 30 years, but it is not     business goals,” said Nosbusch.
the same company as 30 years or 20 years or 10 years ago –
and it’ll be different in five years,” he said. “Throughout my    “It’s about being customer driven, and that’s exactly what the
career, I’ve been associated with change. It helped me grow       focus is today at Rockwell Automation,” he said. “We’re
and showed me I can be successful in a world of ambiguity         leveraging our 100 plus years of plant floor experience,
and uncertainty. You have to deal with change and innovation      knowledge, and expertise to help our customers make
to be able to thrive.”                                            manufacturing a competitive advantage in their business
                                                                  setting.”
Rockwell is a prime example of flourishing in that world of
change and innovation, successfully embarking on a strategy
that has moved it beyond traditional manufacturing into
developing a portfolio of services for customers. It also looks
to its international market as an area of high potential for
future growth. Rockwell currently serves customers in over 80
countries.




WWW.UWM.EDU/BUSINESS                                                                                      Spring 2004 OUTLOOK 11
                                             Alumni Profile
                                             MARK WILLIAMS
IMPACTING BUSINESS LEADERSHIP IN WISCONSIN




                                             Managing Partner
                                             Ernst & Young
                                             BBA-Accounting, 1974


                                             His high school guidance counselor was certain that
                                             Mark Williams was destined to be an engineer. So
                                             Williams, a native of West Allis, began his university
                                             studies at UWM in engineering.
                                             “But after a year, it just didn’t feel like it was a good
                                             fit,” said Williams. He spent the first semester of his
                                             sophomore year considering his options, and the
                                             following semester, he enrolled in the Business
                                             School’s accounting program. “Accounting was for
                                             me,” he said.
                                             It must have been. Today, as Managing Partner of the
                                             Milwaukee office of Ernst & Young, Williams leads a
                                             group of 175 professionals in a highly competitive
                                             environment. Worldwide, Ernst & Young employs                    Then, in 1996, Williams was tapped as Managing Partner in
                                             103,000 people in over 140 countries, providing expertise in     Ernst & Young’s Milwaukee office, essentially bringing his career
                                             assurance and advisory business services, tax consulting and     full-circle – at least geographically.
                                             compliance, corporate finance, transactions, online security,
                                             enterprise risk management, the valuation of intangibles, and    Williams acknowledges that recent history has had an effect on
                                             other critical business-performance issues. 2003 firm revenue    the accounting and audit industry. Ernst & Young sold off its
                                             was $13.1 billion.                                               consulting business about five years ago – avoiding some of the
                                                                                                              conflict of interest issues other firms have been dealing with
                                             Williams earned his way to Managing Partner via an interesting   during the past few years. “But certainly in terms of additional
                                             career path that took him across the world, and then brought     oversight and procedures,” he noted, “there has been a
                                             him back home again. Upon graduation from UWM, he joined         tremendous impact on the industry.”
                                             the Milwaukee office of Arthur Young. (Arthur Young and
                                             Ernst & Whinney merged in 1989, forming Ernst & Young.)          Further, “there is just generally more attention being given to
                                                                                                              the scope and nature of procedures performed and the amount
                                             After six years in Milwaukee, he accepted a three-year           of information we provide,” he said. “In today’s environment,
                                             assignment in Portugal. “International experience really         transparency in reporting is the goal.”
                                             opens your eyes to how others in the world do business,” said
                                             Williams. “Because of that experience, I have a greater level    Most memorable about his UWM experience, said Williams,
                                             of understanding when working with clients who deal with         were his professors. “Paul Fischer, Bill Taylor, Jerry Leer (who is
                                             international business issues – which just about every           now retired) – they love what they do, and it comes through to
                                             client does.”                                                    the students,” he said. “Fischer and Taylor are still there, and
                                                                                                              the next generation of professors – like Ceil Pillsbury – also
                                             Upon his return to Milwaukee, Williams spent about four years    really cares about their students and the profession.”
                                             focused on transactions, including mergers and acquisitions,
                                             and initial public offerings.                                    Williams knows this because he maintains a connection to the
                                                                                                              Business School through Ernst & Young’s recruiting efforts. “I
                                             In 1987, he was given the challenge of opening and running a     love to come to UWM to recruit new talent – it’s a lot of fun.”
                                             new office in Schaumburg for the Chicago office of Arthur
                                             Young. In his nine years there, he also headed the area          It also helps him stay in touch with the quality of UWM’s
                                             office’s middle-market practice – called “Entrepreneurial        accounting curriculum. And what held true in the early 1970’s
                                             Services” – which included the Milwaukee, Chicago, and           when Williams was a student still rings true today. “When you
                                             Grand Rapids regions.                                            succeed in making it through Intermediate Accounting at
                                                                                                              UWM,” he said, “you’re on your way!”



                                   12 OUTLOOK Spring 2004
Business School Alums to Receive




                                                                                                                                           ALUMNI Awards
Top Campus Alumni Honors
The UWM Alumni Association has announced that two UWM Business School graduates –
Dr. Mahendr S. Kochar (EMBA, 1987) and Allan J. Klotsche, Jr. (BBA, 1987 and EMBA, 1994) –
will receive the association’s top alumni honors at commencement ceremonies this spring.
                                              has received a host of professional awards
                                              and honors recognizing his active
                                              leadership and distinguished service at
                                              local, state, regional, and national levels.
                                              Kochar has also been distinguished as a
                                              Fellow of the American College of
                                              Physicians, Royal College of Physicians of
                                              London and Canada, and the American
                                              College of Cardiology.
                                              The current President of the Milwaukee
                                              County Medical Society, Kochar’s civic
                                              involvement also includes leadership roles
                                              with the Milwaukee Academy of Medicine,
                                              the Milwaukee Internist Club, and the
Dr. Mahendr S. Kochar                                                                        Allan J. Klotsche, Jr.
                                              American College of Physicians.

Distinguished Alumnus                         A former board member of the UWM               maintenance business that he sold in 1988
                                              Executive MBA Alumni Association,              after three years of profitable operation.
Award – Dr. Mahendr S.                        Kochar has been actively involved in the
                                                                                             He then began his managerial career at
Kochar                                        group’s activities and programs, and takes
                                                                                             Brady, joining the firm as a sales
                                              a continuing interest in the EMBA
Dr. Mahendr S. Kochar (EMBA, 1987) will                                                      representative in 1988, and steadily rising
                                              program and in the Business School.
be presented with the UWM Alumni                                                             through the sales, technical, and
Association’s Distinguished Alumnus Award.    “Mahendr has distinguished himself at all      marketing ranks to his current position
Kochar is Professor of Medicine and           levels in the medical profession,” says        on Brady’s top leadership team. In this
Senior Associate Dean of Graduate             Mark A. Mone, Professor of Management          capacity, he has been instrumental in
Medical Education at the Medical College      and Associate Dean of Executive                many strategic initiatives, including
of Wisconsin.                                 Programs. “He has applied his talents          forming the firm’s first joint venture
                                              toward administrative leadership, public       located in South Korea, opening Brady’s
“Mahendr is not only a distinguished          policy, and the practice, development,         Beijing office, and developing long-term
scholar, practitioner, and administrator in   and delivery of healthcare. Uniformly,         business plans for the company’s China
the medical field, but is truly an            those who work with him are impressed          operations.
outstanding individual and leader,” said      with his integrity and his amazing
Dean V. Kanti Prasad. “His commitment                                                        Maintaining his ties to the UWM Business
                                              capability to be actively engaged and
to service – to the medical profession and                                                   School, Klotsche regularly shares his
                                              effective on so many fronts.”
to the community-at-large – is remarkable.                                                   expertise as a guest lecturer in the
He consistently takes time to guide and                                                      Executive MBA program.
                                              Graduate of the Last
mentor so many others in the profession,                                                     Allan Klotsche also represents a unique
and takes genuine pride in their              Decade – Allan J.                              tie to UWM. His grandfather, J. Martin
accomplishments. We are delighted that        Klotsche, Jr.                                  (Joe) Klotsche, served as the first
the UWM Alumni Association is                                                                Chancellor of the University of Wisconsin-
recognizing him with the highest honor it     Allan J. Klotsche, Jr. (BBA, 1987 and          Milwaukee from 1956 to 1973.
bestows on alumni.”                           EMBA, 1994) will receive the UWM
                                              Alumni Association’s Graduate of the Last      “Obviously, Chancellor Klotsche’s love of
Kochar’s career includes a long record of     Decade Award. Klotsche is Vice President-      the University and his commitment to its
successive physician and administrative       Brady Asia-Pacific at Brady Corporation.       goals were not lost on his grandson,” said
promotions, seven different national                                                         Dean V. Kanti Prasad.
board certifications, and publication of      Klotsche started his business career as an
five books and hundreds of articles. He       entrepreneur, running a home

WWW.UWM.EDU/BUSINESS                                                                                           Spring 2004 OUTLOOK 13
                         Hubbard Optimistic About U.S. Economy
Bradley LECTURE SERIES
                         Former Bush Advisor Anticipates a “Very Good Year”
                         “The enormous flexibility and agility of the American economy         The Victorian School: Skepticism
                         can claim the lion’s share of the credit for withstanding the
                         shocks we took in recent years,” said economist R. Glenn              Hubbard described the skeptics’ viewpoint in the Victorian
                         Hubbard at the Bradley Distinguished Lecture Series in March          School as: “If there is pleasure in the near term, there must be
                         at the Hyatt Regency Milwaukee. The lecture was sponsored             pain around the corner.”
                         by the Lynde and Harry Bradley Foundation and the UWM
                                                                                               The skeptics, said Hubbard, are concerned that the U.S. has
                         Business School.
                                                                                               woven a “web of structural imbalances at home and abroad” –
                         Hubbard noted that we are in the middle of “quite a                   including budget deficits and current account deficits – and
                         significant boom,” with most forecasters projecting 4.5%              that trade and investment links to the global economy are
                         growth in gross domestic product in the next year.                    destabilizing to the U.S. economy.

                         That growth, said Hubbard, comes with the backdrop of                 Some of the facts represented by the skeptics, he added, just
                         virtually no inflation and an investment recovery that began          don’t hold true.
                         with strong consumer spending and continues with a
                                                                                               “The jobless recovery that is constantly being referenced is
                         turnaround in business investment.
                                                                                               extraordinarily unlikely to be true,” he said, noting that with
                         Hubbard is the Russell L. Carson Professor of Economics and           the current projections of productivity growth, “the job market
                         Finance at Columbia University. He served as Chairman of the          will grow, and relatively quickly.”
                         U.S. Council of Economic Advisers under President George W.
                                                                                               A second erroneous fact, according to Hubbard, is that
                         Bush from February 2001 to March 2001. While CEA
                                                                                               “multinationals are villains that export jobs.”
                         Chairman, he also chaired the Economic Policy Committee of
                         the Organization for Economic Cooperation and                         To the contrary, he said. “Data shows that foreign and
                         Development. Hubbard served as Deputy Assistant Secretary             domestic labor generally go together,” Hubbard stated.
                         of the U.S. Treasury Department for Tax Policy from 1991-93.          “Multinational corporations are typically going abroad to serve
                         He is a research associate at the National Bureau of Economic         foreign markets and foreign needs.” He pointed to GE
                         Research, and the director of the program on tax policy at the        Medical and IBM as examples of multinationals whose
                         American Enterprise Institute in Washington.                          increased foreign business has led to
                                                                                               the creation of new
                         Regarding the future of the economy, Hubbard said, there
                                                                                               administrative, sales, and
                         are two schools of thought – “the Victory School or the
                                                                                               service jobs at home.
                         Victorian School.”
                                                                                               At the policy level, Hubbard
                         The Victory School: Optimism                                          hopes that the future will
                                                                                               bring more discussion of
                         The Victory School – to which Hubbard subscribes – views the
                                                                                               compensation issues, training
                         future optimistically. The current investment recovery and the
                                                                                               and skill development programs,
                         successful “strong risk management role” of U.S. monetary and
                                                                                               entitlement reforms, and “barriers
                         fiscal policy influence that optimism.
                                                                                               to competitiveness that lie in
                         “But the biggest story,” Hubbard said, “is the sea change in          public policy” – such as
                         productivity growth and our prospects for improvements in             business taxes, healthcare
                         growth going forward.”                                                costs, and the tort system.

                         Hubbard said that he and most economists believe that private         “Public policy needs to
                         equity and risk capital in the U.S., along with the high mobility     look at itself in the
                         of our labor force, are clearly associated with the high U.S.         mirror,” Hubbard
                         growth rate.                                                          said.

                         Risks, he said, include high energy prices and talk of
                         protectionist trade policy. He is particularly disturbed that
                         protectionist ideas are being discussed on both sides of the aisle.
                         “Much of what we stand to gain from high growth comes from
                         our connectedness to the rest of the world,” Hubbard said.

                                                      R. Glenn Hubbard, Columbia University


          14 OUTLOOK Spring 2004
Global Prosperity Depends on Global
Financial Stability




                                                                                                                                        BRADLEY Lecture Series
Top Official Discusses Role of International Monetary Fund
Sixty years after the creation of the
International Monetary Fund, the
organization faces new challenges and a
different world than could have been
imagined in the post-Bretton Woods era,
but its objectives have remained
consistent, according to Anne O.
Krueger, First Deputy Managing Director
of the International Monetary Fund.
“The context today may be different, but
our fundamental task has not changed,”
Krueger said. “Our overarching
objective – the maintenance of global
financial stability – is at least as
important today as it was in the 1940’s.”
“Global prosperity depends on it,” said
Krueger, “in a very real sense.”
                                              Anne O. Krueger, International Monetary Fund
Krueger – who earlier served as a Stanford
economist, Hoover Institution fellow, and
Vice President for Economics and Research at the World Bank –       “We have been trying to work out how best to detect when a
discussed the IMF and the changes in the world economy at a         crisis is imminent, how to respond to the warning signs, and – of
Bradley Distinguished Lecture Series at the Pfister Hotel in        course – how to handle crises when they do occur,” she stated.
October. The lecture was sponsored by the Lynde and Harry
Bradley Foundation and the UWM Business School.                     New Approaches
                                                                    Among the IMF’s conclusions and approaches to potential
The World is a Different Place                                      crises in the current world economy, noted Krueger:
Krueger highlighted the tremendous economic changes that
                                                                    • Exchange rate flexibility allows easier adjustment to shocks
have occurred in six decades – remarkable post-war economic
                                                                      and helps maintain higher growth rates. “It is simply not
growth, the transformation of economies such as those in
                                                                      possible to have fixed exchange rates, capital mobility, and
China, Korea, and more recently India, the progress of the
                                                                      an independent monetary policy – such a combination is a
new economies in the former Soviet bloc, and the
                                                                      recipe for trouble,” according to Krueger.
deregulation of capital markets in many countries.
                                                                    • Debt sustainability is important in judging whether a
                                                                      country has sound economic policies that deliver lasting
     “Our overarching objective – the maintenance of                  economic growth. But, she added, the absence of
    global financial stability – is at least as important             fundamental reforms “impedes everyday economic activity”
                                                                      – a view reinforced by the IMF’s experience in the former
      today as it was in the 1940’s. Global prosperity                communist countries. Those reforms include properly
            depends on it, in a very real sense.”                     functioning judicial systems, enforceable property rights,
                                                                      accountable and transparent public institutions, and
                                                                      efficient tax systems. “All of these issues are now an
Over the last decade, however, the crises that the world and the
                                                                      essential part of the Fund’s work,” Krueger stated.
International Monetary Fund encountered in countries
including Mexico, Asia, Russia, Turkey, and Argentina “were         “The global growth record of the past 60 years demonstrates
different in nature as well as scale,” Krueger said. Most           conclusively that this is not a zero-sum game,” Krueger
significantly, these were capital account crises, rather than the   concluded. “Everybody can benefit from a stable
current account crises that the IMF had been used to handling.      international financial environment, free trade, and growth-
That meant that the IMF – as well as economists and                 oriented but stable economic policies.”
governments worldwide – had a steep learning curve, she said.




WWW.UWM.EDU/BUSINESS                                                                                         Spring 2004 OUTLOOK 15
      Roger L. Fitzsimonds Lecture Hall for
      Management Excellence Named
      A special event last December
      celebrated the naming of the Business
      School’s state-of-the-art Executive MBA
      classroom as the Roger L.
      Fitzsimonds Lecture Hall for
      Management Excellence.

      A packed room of friends and
      colleagues paid tribute to Roger L.
      Fitzsimonds and his contributions and
      commitment to Wisconsin business, the
      Business School, and the University of
      Wisconsin-Milwaukee. Fitzsimonds, a
      prominent UWM Business School                Roger Fitzsimonds (front left) thanks the audience for sharing his special evening. His
      alumnus, is the retired Chairman and         wife, Leona Fitzsimonds, is at right.
      CEO of Firstar Corporation.

      Dean V. Kanti Prasad – along with
      Dennis Kuester, President & CEO of
      Marshall & Ilsley Corporation, Edward
      J. Zore, President & CEO of
      Northwestern Mutual, Patricia
      Moriarity, former Senior Vice President
      at Firstar Corporation, and UWM
      Interim Chancellor Bob Greenstreet –
      feted Fitzsimonds at the evening
      reception.

      “What a great inspiration for all of those   Fitzsimonds receives a warm ovation at the December reception.
      future generations of managers in our
      Executive MBA and customized
      executive development programs to be
      learning in a wonderful facility bearing
      the name of Roger Fitzsimonds – whose
      career truly represents one of the finest
      examples of executive excellence and
      business leadership, combining intellect,
      integrity, hard work, and commitment to
      community service,” said Prasad.




                                                   Dean V. Kanti Prasad (left) joins three of the Business School’s Advisory Council Presidents –
                                                   Dennis Kuester (President & CEO of Marshall & Ilsley Corporation), current Council President
                                                   Ed Zore (President & CEO of Northwestern Mutual), and Roger Fitzsimonds – in front of the
                                                   plaque commemorating the Roger L. Fitzsimonds Lecture Hall for Management Excellence.



16 OUTLOOK Spring 2004
The WTO and Trade in Services




                                                                                                                                            FACULTY Research
While globalization of trade in manufactured goods is now commonplace, liberalization
of trade in services – such as education, healthcare, financial services, and professional
services – is a relatively new and unstudied trend. Dr. Patricia Arnold, of the School’s
accounting faculty, took a sabbatical leave in 2002-2003 to study the public policy
implications of the World Trade Organization’s General Agreement on Trade in
Services (GATS) for the accounting and financial services sectors.

The GATS                                       Implications for Public
The World Trade Organization’s General         Policy
Agreement on Trade in Services (GATS)
                                               In the wake of Enron and other corporate
is an existing international trade
                                               bankruptcies, the question of how to
agreement that is currently being
                                               effectively regulate the auditing and
renegotiated to expand its reach. Under
                                               financial services industries and restore
the current GATS agreement, WTO
                                               confidence in financial markets has been       Patricia Arnold
members make commitments to liberalize
                                               a focus of much public attention and
trade in specific service sectors by
                                               debate. Dr. Arnold’s research contributes      Accountancy Sector, which are scheduled to
guaranteeing market access and national
                                               to this debate by showing how                  become effective in 2005 upon the
treatment to all other WTO members on
                                               international trade agreements – like the      completion of the current round of GATS
a most favored nation basis.
                                               GATS – impact regulation of accounting         negotiations.
In the first round of multilateral services    and financial services.
                                                                                              Dr. Arnold’s research focuses on the
negotiations – the Uruguay Round (1986-
                                               While tariffs are the major barrier to trade   implications of the GATS for regulation of
1994) – many nations undertook limited
                                               in manufactured goods, barriers to             the accounting and auditing sector. Her
commitments that locked in the status
                                               international trade in services are non-       analysis of the accountancy disciplines
quo, but did not radically liberalize trade
                                               tariff barriers, including domestic            shows the extent to which WTO
in services. While some of the provisions
                                               regulations that industry views as “trade-     deliberations on accountancy encroach
of the GATS agreement apply as general
                                               restrictive.” The GATS has set in place a      upon areas traditionally considered the
obligations on all WTO members, each
                                               negotiating framework and rules aimed at       prerogative of domestic policy making,
WTO member can decide in the course
                                               eliminating or reducing domestic               including professional licensing,
of negotiations whether, and the extent to
                                               regulations that disrupt the free flow of      education, ethics, and standard setting.
which, it is willing to commit any service
                                               trade in services.                             She concludes that – if left unchecked –
sector to the GATS market access and
national treatment rules.                                                                     international trade agreements could
                                               From a public policy perspective, this
                                                                                              impose constraints on state and federal
                                               raises the question of whether
A new round of GATS negotiations,                                                             regulators and non-governmental
                                               international trade rules designed to
known as the GATS 2000 Round, began                                                           accountancy bodies, and erode their
                                               eliminate “regulatory barriers to trade”
in 2000 and is scheduled to conclude in                                                       power to effectively regulate auditing and
                                               will weaken the ability of state and federal
2005. In the current negotiating round,                                                       financial reporting practices.
                                               authorities to effectively regulate the
WTO members are being asked to
                                               financial markets in order to protect          In October 2002, Dr. Arnold presented
expand commitments to additional
                                               investors from fraud and other abuses.         the results of her research on the
services sectors and/or to remove
limitations on prior commitments.                                                             implications of GATS for financial services
                                               Research Findings                              to the Trans Atlantic Consumer Dialogue,
The objective of the GATS 2000 Round is                                                       an organization of 65 consumer groups in
to open borders of the 146 WTO member          GATS Article VI:4 on domestic regulation       Europe and the United States. In July of
states to trade in all types of services —     is one of the most controversial               2003, she presented the findings of her
including professional services such as        provisions of the GATS agreement.              study of the accounting sector at the
accounting and auditing, and financial         Article VI:4 empowers the WTO to               Interdisciplinary Perspectives on
services such as banking, insurance and        develop so-called “disciplines” – or rules –   Accounting Conference in Madrid, Spain.
the securities industry. The agreement’s       to ensure that domestic licensing and
reach is extensive, not only covering all      qualifications requirements and technical      She plans to extend the research to
types of services, but also applying to all    standards are not “more trade restrictive      address the implications of international
modes of delivering services, including        than necessary.”                               trade agreements for other services
cross-border Internet trade in services,                                                      sectors, including hospital and other
                                               Accountancy was selected as the first
direct foreign investment in service                                                          health services, health insurance, and
                                               service sector to be “disciplined” under
firms, and the mobility of labor across                                                       public and private pension services.
                                               Article VI:4. The WTO has drafted
national borders.                              Disciplines on Domestic Regulation of the
WWW.UWM.EDU/BUSINESS                                                                                            Spring 2004 OUTLOOK 17
                    Fall Research Seminars
Research SEMINARS

                    T     hree top national researchers
                          joined UWM Business School
                    faculty in making presentations at the
                    School’s fall semester Research Seminar
                    Series. The series provides a forum for
                    sharing cutting-edge research and an
                    opportunity for engagement and
                    discussion with leading academics from
                    other institutions.
                    “These exchanges are an important tool
                    in stimulating research scholarship,” says
                    Dean V. Kanti Prasad, “and also allow us
                    to raise our profile on a national level.”
                    Professor Ehsan Soofi, of the
                    Production and Operations
                    Management faculty, serves as series         Sydney Finkelstein                             Dawn Iacobucci
                    Coordinator.
                                                                 of Accounting and Information Systems          Chains.” Dr. Mohtadi conducts research
                    Scholars from other universities who
                                                                 at the University of Wisconsin-Madison,        in the areas of growth, technological
                    made presentations in the fall series
                                                                 who presented “An Empirical Analysis of a      change, trade, political economy, and
                    were:
                                                                 Relative Performance-Based Incentive Plan:     development environment.
                    Sydney Finkelstein, Steven Roth              Evidence From a Postal Service.” Dr.
                                                                 Matsumura’s research focuses on                Ralitza Nikolaeva, of the Marketing
                    Professor of Management at the Tuck
                                                                 customer profitability analysis and cost       faculty, presented “I’ll Go If You Go First:
                    School of Business, Dartmouth College,
                                                                 management. She has published in               The Contagion Effect of Entry to the Internet
                    who examined “Why Smart Executives
                                                                 leading accounting and statistics              Channel.” Dr. Nikolaeva’s research
                    Fail.” Dr. Finkelstein is a prominent
                                                                 journals, and serves on the editorial          focuses on the development of the
                    scholar in business policy and strategy.
                                                                 board of The Accounting Review.                Internet as a new marketing channel,
                    His recent book, Why Smart Executives
                                                                                                                the impact of the Internet on business
                    Fail: And What You Can Learning From
                                                                 In addition, the following UWM faculty         practices, and evolutionary issues in e-
                    Their Mistakes (Portfolio, June 2003),
                                                                 presented their research in the series:        commerce and their strategic
                    examines corporate mistakes and
                                                                                                                implications.
                    discusses how organizations can learn        Yong-Cheol Kim, of the Finance faculty,
                    from them. The book is based on 197          presented “Cross-Border Acquisitions and       Robert Setoputro, a doctoral candidate
                    interviews of CEOs, former CEOs, and         Minority Interest Protections.” Dr. Kim        in Production and Operations
                    other executives. His research focuses       specializes in international finance and       Management, presented “Reverse Logistics
                    on keys to leadership success and            corporate finance. His current research        in e-Business: Optimal Price and Return
                    failure, early warning signs for corporate   focuses on currency exposure of                Policy.” Mr. Setoputro is conducting
                    disasters, learning from mergers and         multinational corporations, corporate          joint research with Dr. Samar
                    acquisitions, and lessons for board of       governance, and the financial markets of       Mukhopadhyay of UWM’s POM faculty.
                    director effectiveness.                      Japan and other foreign countries.
                                                                                                                Ehsan Soofi, of the Business Statistics
                    Dawn Iacobucci, Professor of Marketing       En Mao, of the Management                      faculty, presented “Relative Importance of
                    at Northwestern University’s Kellogg         Information Systems faculty, presented         Explanatory Variables, Part I: Notion,
                    School of Management, who presented          “Assessing the Nature and Characteristics of   Measures, Examples and Applications.” A
                    “Investigations into Measurements and        Effective IS Leadership.” Dr. Mao’s            fellow of the American Statistical
                    Modeling Structure.” Dr. Iacobucci’s         research interests include information         Association, Dr. Soofi specializes in
                    research interests include multivariate      systems diffusion in developing                statistical analysis for business decisions.
                    statistics and marketing research. She       countries and information systems              The second part of this research,
                    serves as Editor of the Journal of           leadership.                                    “Relative Importance of Explanatory
                    Consumer Research and is the immediate                                                      Variables, Part II: Inference and Use in
                    past Editor of the Journal of Consumer       Hamid Mohtadi, of the Economics                Practice of Managerial Decision-Making,”
                    Psychology.                                  faculty, presented “Analyzing                  was presented by Joseph J. Retzer,
                                                                 Interorganizational Information Sharing        Director of Marketing Sciences at
                    Ella Mae Matsumura, Associate Professor      Strategies in B2B E-Commerce Supply            Maritz Research.


       18 OUTLOOK Spring 2004
In Memoriam
                                                 Kurtis P. Klumb
                                                 Kurtis P. Klumb, a senior lecturer who taught business law to
                                                 thousands of students during his 27 years at UWM, died of a heart
                                                 attack on April 1. He was 53.
                                                 “Kurt was an outstanding teacher and human being,” said Dean V.
                                                 Kanti Prasad. “He was committed to his students, and was sincerely
                                                 interested in their lives and their futures. He had such a positive
                                                 influence on so many people.”
                                                 Students and alumni remember Klumb as a captivating teacher who
                                                 made class interesting with his skilled teaching style and wonderful
                                                 sense of humor.
                                                 “Kurt’s classroom was an open atmosphere for discussion and
                                                 questions,” shared senior Melissa Jewett. “He didn’t restate a
                                                 textbook – he didn’t even use a textbook – he created his own
                                                 teaching materials. He wanted you to learn by listening, thinking,
                                                 and inquiring.”
                                                 That stellar teaching was rewarded. In 1986, Klumb received the
                                                 School of Business Administration’s teaching award, and in 1999, he
                                                 earned UWM’s Academic Staff Outstanding Teaching Award.
                                                 Klumb also served as a mentor to many students over the years, and
                                                 as faculty advisor to the student business fraternity Alpha Kappa Psi.
Kurtis P. Klumb                                “Kurt was really the foundation of our organization,” said Laura
                                               Wendorf (’01, ’03) who serves as Vice President of UWM’s alumni
                                               chapter of Alpha Kappa Psi and is an accountant with Deloitte &
“Kurt’s classroom was an open   Touche. “He was close to all of the students, and encouraged and influenced
                                us tremendously.”
atmosphere for discussion and
                                One lesson he taught outside the classroom, she said, was the importance of
questions. He wanted you to     community service. An active volunteer himself, Klumb led by example, Wendorf
learn by listening, thinking,   said. He initiated opportunities for AKPsi students to volunteer with Indian Summer
                                Festival, a Junior Achievement program at Maryland Avenue School, the Adopt-a-
and inquiring,” shared          Highway program, and other service projects.
senior Melissa Jewett.          “Kurt was ‘about’ giving back,” she said.
                                Wendorf noted that Klumb’s motto was: “We work hard, but we play hard.” To that
                                end, he invited AKPsi students for an annual summer trip to Crivitz, which grew in
                                size and popularity over the years.
                                Klumb held degrees in accounting and law from Marquette University, and practiced
                                law part-time. He also served as chief financial officer of Indian Summer Festivals, Inc.
                                He is survived by his wife, Jenelle, and their family, as well as countless friends on the
                                UWM campus and throughout Southeastern Wisconsin.

                                The Kurt Klumb Scholarship has been established to honor Klumb and his devotion to students.
                                Contributions (payable to the UWM Foundation – Kurt Klumb Scholarship) may be sent to:
                                UWM Office of Development, 3271 N. Lake Drive, Milwaukee, WI, 53211.




WWW.UWM.EDU/BUSINESS                                                                               Spring 2004 OUTLOOK 19
      Faculty Kudos
        Christine Bauman, Assistant Professor         Hemant Jain and Keshavamurthy                of research, teaching, and/or
        of Accounting and Taxation, received          Ramamurthy, with JungJoo Jahng               application. The American
        the 2003 UWM Alumni Association               (PhD, 2000) – now on the faculty of          Psychological Society is a nonprofit
        Award for Teaching Excellence at              Rensselaer Polytechnic Institute –           membership organization founded in
        UWM’s December commencement                   received the Operation Research              1988 to advance scientific psychology
        ceremonies. She was cited by the              Society’s (United Kingdom) First             and its representation as a science on
        UWMAA Honors Committee for                    Stafford Beer Award for Excellence in        the national level. The 13,500 APS
        “consistently demonstrating that she is       Research for year 2002 for their             members include leading
        an outstanding instructor who is              research on “Personality Traits and          psychological scientists and academics,
        making a significant impact on the            Effectiveness of Presentation of             clinicians, researchers, teachers, and
        Milwaukee community through her               Product Information in E-Business            administrators. This honor is the third
        professional and outreach activities.”        Systems.” A medal award ceremony is          such recognition for Ragins in the past
        In addition to her teaching and               scheduled for May 2004 in London.            year, having also been awarded Fellow
        research, Dr. Bauman is the founder                                                        status by the Society of Industrial and
        and director of the UWM Low Income            Belle Rose Ragins, Professor of              Organizational Psychology and the
        Taxpayer Clinic (LITC), which has             Organizations and Strategic                  American Psychological Association.
        received over $200,000 in grants from         Management, has been named a
        the Internal Revenue Service since            Fellow in the American Psychological
        2001, and has assisted hundreds of low-       Society (APS). Fellow status is awarded
        income taxpayers in resolving tax             to APS members who have made
        disputes.                                     sustained outstanding contributions to
                                                      the science of psychology in the areas




      Lubar Scholarships




      Sheldon and Marianne Lubar (far left and far right) join Lubar Scholars Melissa Jewett (second from left), Brett Held, Kathryn Young,
      Clara Iyere, and Tim Calloway at a spring reception.




20 OUTLOOK Spring 2004
Bader Institute Recognizes Excellence




                                                                                                                                       BADER Institute
in Nonprofit Management




T     he Helen Bader Institute for
      Nonprofit Management honored
five outstanding nonprofit organizations
                                            Director of the Helen Bader Institute.
                                            “These awards allow us to spotlight some
                                            of the top nonprofit leaders in our
                                                                                           (Left to right) Leigh Kunde, Nonprofit
                                                                                           Center of Milwaukee; Bonnie Bellehumeur,
                                                                                           America’s Second Harvest of Wisconsin;
and their leaders at the Second Annual      community.”
Nonprofit Management Excellence                                                            Charles Webb, Metcalfe Park Residents’
Awards Luncheon in October at the           This year’s awards went to Madre Angela        Association; Brian Baldwin, Metcalfe Park
Italian Community Center. The awards        Dental Clinic, Wisconsin Humane Society,
                                                                                           Residents’ Association; Ken Lamm,
were presented jointly with the             America’s Second Harvest of Wisconsin:
                                            Evoco, Strive Media Institute, and Metcalfe    Wisconsin Humane Society; Victoria
Nonprofit Center of Milwaukee.
                                            Park Residents’ Association.                   Wellens, Wisconsin Humane Society;
“High growth in the nonprofit sector,                                                      Steve Ohly, Madre Angela Dental Clinic;
together with the growing complexity of     Proceeds from the luncheon support
                                            student scholarships for UWM’s                 Bill Solberg, Madre Angela Dental Clinic;
nonprofit organizations and the
environments in which they operate,         educational programs in nonprofit              Matthew Johnson, Strive Media Institute;
requires the leaders of these               management, which include a graduate           John Palmer Smith, Helen Bader Institute
                                            certificate in nonprofit management and
organizations to be excellent managers,”                                                   for Nonprofit Management.
said John Palmer Smith, Executive           a non-credit professional certificate.




                               In Memoriam — Norbert J. Stefaniak
  Norbert J. Stefaniak, one of 15 charter   Dr. Stefaniak filled many important           approves graduate programs at UWM.
  members of the UWM School of              roles on the developing UWM campus
  Business Administration faculty,          at that time, including serving on            “Norb Stefaniak was a vital part of the
  passed away on January 24, 2004.          Search and Screen Committees for the          early years of the Business School and
  Hired to teach accounting by UWM’s        Business School’s first dean as well as       the UWM campus,” reflected Dean V.
  Commerce Division in 1948, he             for the UW System Vice President of           Kanti Prasad. “In those days, it was
  continued as a faculty member in the      Academic Affairs, being the first             really a handful of people who got this
  School of Business Administration,        Business School representative on the         School off the ground. Norb was a
  teaching accounting and real estate       UWM Faculty Senate – where he later           leader among them.”
  until he left in 1972 to run Stefaniak    served as president – and chairing the
  Realty (sold in 1999 to Coldwell          committee that created the Graduate
  Banker).                                  Faculty Council, which reviews and



WWW.UWM.EDU/BUSINESS                                                                                         Spring 2004 OUTLOOK 21
                 Future Entrepreneur Moves Toward Her Goal
Student HONORS
                 UWM Entrepreneur Internship Program




                 Yueqi Lisa Wang – a UWM business student graduating with a            Dan Aranda and Yueqi Lisa Wang
                 double major in marketing and finance this May – knows she
                 wants to be an entrepreneur. An experienced professional
                 model and modeling instructor, she hopes to one day operate           input from my professor, Ralitza Nikolaeva, and feedback from
                 her own business within the fashion industry, perhaps tapping         my classmates. It was awesome to put a classroom concept into
                 into the burgeoning international market.                             action.”
                 Last fall, Wang started down the path toward that ultimate goal       “Lisa did a fantastic job,” said Aranda, who worked directly with
                 through the Business School’s Entrepreneur Internship                 Wang as both supervisor and mentor during the semester. “With
                 Program.                                                              the economy heating up in the fall, we were anxious to have
                                                                                       someone help us with some marketing projects. Lisa showed
                 While interning at Headquarters.com – a customized Web
                                                                                       tremendous initiative – she was eager to start and complete
                 development and Internet consulting firm headed by Dan
                                                                                       projects – and her marketing survey resulted in new business for
                 Aranda, a 1990 UWM engineering graduate – Wang was able to
                                                                                       the firm. We were very impressed with her abilities and her
                 experience first-hand the unique aspects of an entrepreneurial
                                                                                       drive.”
                 enterprise, as well as to apply her business and marketing talents.
                 Over the course of the semester-long internship, she was              In addition to providing a meaningful work experience, an
                 involved in a number of strategic marketing projects, including       integral function of the Entrepreneur Internship Program is the
                 designing and implementing a marketing survey that generated          exposure students have to successful entrepreneurs and their
                 increased sales for the business.                                     day-to-day business processes.
                 “I was taking a Marketing Research class at the time that was         “I learned so much from Dan,” Wang said. “Especially from his
                 focusing on marketing surveys, so I could immediately apply           ability to respond to change, to foresee opportunities, and to
                 what I was learning,” said Wang. “It worked out great – I got         take risks. As an entrepreneur, he taught me that you not only




      22 OUTLOOK Spring 2004
have to identify the good opportunities, but you have to do
something with them. It’s the classic ‘risk/return’ – you have to
                                                                       Entrepreneur Internship Program
take chances. And work incredibly hard!”
                                                                       at the UWM Business School
Wang’s involvement with the UWM chapter of the Collegiate
Entrepreneurs Organization has further energized her ambition
                                                                       The Entrepreneur Internship Program incorporates hands-
to start her own business. “It’s fantastic to be surrounded by
students with common goals, and to get motivation – and great          on experience with area entrepreneurs into the School’s
advice – from CEO’s guest speakers,” she said.                         academic programs. These unique experiences
A native of Shanghai and a graduate of Brookfield East High            underscore entrepreneurial spirit, competencies, and the
School, the only university Wang applied to was UWM. “I                entrepreneurial process. The School offers graduate
wanted to be near home, but I also wanted to be at a school in a
                                                                       courses and an undergraduate certificate in
big city that could offer access to practical internships as part of
my education,” she said. “And I want to graduate into an urban         Entrepreneurship.
business setting that can offer me a lot of great career
opportunities. UWM has all that.”                                      Earning an internship stipend as well as academic
“I have had an incredible experience here,” Wang said about            credit, interns engage in semester-long assignments with
her undergraduate years at the UWM Business School.                    area entrepreneurs, working on a variety of strategic,
In her junior year, Wang interned at Kohl’s Corporation, so she        marketing, and financial planning projects. With seed
sees the difference between large corporations and smaller,            support from the Ewing Marion Kauffman
entrepreneurial firms. “In a larger firm, you often have a more
                                                                       Foundation and additional corporate sponsorship
specific focus to your assignment,” she said. “My experience at
Headquarters.com gave me a different kind of perspective, and          from We Energies, the program has placed 24
allowed me to be involved in so much and to experience so              entrepreneur interns in its two-year history.
many aspects of the business.”
Still, she plans to hone her management skills within other            2003-04 Entrepreneur Interns and their
firms before starting her own business.
                                                                       sponsoring entrepreneurs are:
“I have an idea,” said Wang, “but before venturing out on my
own, I want to gain some additional experience in managing             Cassandra C. Flechsig – BuyCostumes.com
and understanding how organizations work and are structured.”
                                                                       Adam Hobler – Nelson Container
As for the impact the Entrepreneur Internship had on her, she
stated, “It has been a highlight in my college career. The             Nick Italiano – CPA Online
experiences, resources, lessons, and relationships I gained are
                                                                       Matthias Jonas – NiceWare
truly invaluable.”
                                                                       Steven P. Kelley – Centare Group
“This experience has validated and confirmed my desire to
become an entrepreneur,” Wang added. “The difference now is            Timothy Mueller – Schmidt Engineering &
that I know it’s possible.”
                                                                       Equipment
                                                                       Amanda Schlie – Webcom, Inc.
                                                                       Nicholas Schmal – MII Equipment
                                                                       Kariann Tector – EMTEQ
                                                                       Yueqi Lisa Wang – Headquarters.com
                                                                       Amanda Young – storeWALL
                                                                       Michael P. Young – techworks, LLC




WWW.UWM.EDU/BUSINESS                                                                                          Spring 2004 OUTLOOK 23
                 Trust, Loyalty, Humility Important,
                 Delgado Tells Honors Students
Student HONORS
                                                                                                            Power Company, starting as an electrical
                                                                                                            engineer, progressing to plant manager,
                                                                                                            and ultimately climbing the ladder to
                                                                                                            Vice President of Electric Systems
                                                                                                            Operations. He has served on
                                                                                                            numerous national and regional energy
                                                                                                            committees, including as Chairman and
                                                                                                            President of MAIN – the regional
                                                                                                            reliability council for eastern Wisconsin,
                                                                                                            Illinois, and western Missouri, and as an
                                                                                                            industry advisor to the Task Force on
                                                                                                            Electricity Infrastructure of the National
                                                                                                            Governors Association.
                                                                                                            In addition to honoring Delgado,
                                                                                                            28 students and one faculty member
                                                                                                            were inducted into Beta Gamma Sigma
                                                                                                            at the dinner ceremony in November:
                 (left to right) Business School Dean V. Kanti Prasad, Beta Gamma Sigma Vice President
                                                                                                            FACULTY
                 Rebecca Hamberger, and Chapter Honoree José Delgado.
                                                                                                            Samar K. Mukhopadhyay

                 José Manuel Delgado, President and           since then has heightened the scrutiny        MASTERS CLASS
                 Chief Executive Officer of American          of corporate leadership.                      Michael P. Halloran
                 Transmission Company, addressed top                                                        Matthias Jonas
                 UWM business students this fall at the       Commending the students for their
                                                                                                            Rosemary Klappa
                 induction dinner of Beta Gamma Sigma         talent, hard work, and achievements,
                                                                                                            Robert L. Kohlmetz
                 – the national business honors society.      Delgado encouraged them to place
                                                                                                            Marissa A. Lethlean
                                                              value on other important qualities that
                                                                                                            Lisa M. Marsolek
                 Formed in 2001, American Transmission        good leaders need to exhibit:
                                                                                                            Nicholas M. Marzinski
                 Company (ATC) is the first multi-state
                 transmission-only company in the             Trust: When ATC was formed three              Jo Ann L. Samp
                                                              years ago, Delgado said, he was its first –   Kristin A. Schuller
                 United States, providing electric
                                                              and only – employee for six months. As        Jeffrey G. Weatherhead
                 transmission service from the Upper
                 Peninsula of Michigan, throughout the        he began to build his team, he said, “I
                                                              looked for good people. Good people           SENIOR CLASS
                 eastern half of Wisconsin, and into
                                                              act well even when no one is watching.”       Jodi Brown
                 portions of Illinois. It owns and operates
                                                              It is important to be someone who             Laura Delia
                 8,900 miles of high-voltage transmission
                                                              people can trust, he said, because            Sarah J. Krzos
                 lines and 450 substations.
                                                              “business is based on trust.”
                                                                                                            JUNIOR CLASS
                                                              Loyalty: “A sense of loyalty to a             Kristin J. Brown
                     “My wish for you is to stay in           company brand may not be as strong as         Peter D. Bialzik
                                                              it once was, but loyalty to the goal or       Angela M. Caputo
                    Wisconsin and to help build the           mission is essential,” he said.               Dustin T. Connors
                      economy of this great state.”           Humility: “Recognize that you can’t do        Benjamin J. Evers
                                                              it all,” said Delgado. Quoting Will           Jacob M. Gagas
                                                              Rogers, he said, “Everybody is ignorant,      Meredith E. Gavin
                                                              only on different subjects.”                  Laura Handal
                 As an executive with Wisconsin Electric                                                    Adam M. Hobler
                 in the 1990’s, Delgado told students, he     Delgado – a 1998 graduate of UWM’s            Angela D. Phillips
                 was involved in energy-related meetings      Executive MBA program and a member            Nicole L. Rasmussen
                 with Enron executives. “They were            of the School’s Business Advisory             Jill M. Stanchfield
                 great, talented people with great pride,”    Council – has a long and distinguished        Corinne Thompson
                 he said, “but the environment was heavy      career in the energy industry. Prior to       Lisa M. Winski
                 with greed and arrogance.” What has          his current leadership role at ATC, he        Bryan J. Zastrow
                 happened to Enron, Tyco, and others          spent 27 years at Wisconsin Electric


      24 OUTLOOK Spring 2004
Student Investment Club Places Second in Competition




                                                                                                                                         STUDENT Honors
A        group of young UWM investors
        stuck with their investment
strategy and captured not only great
returns on their portfolio, but two cash
awards in a national competition.
The UWM Student Investment Club’s
39.55% return on their real money
portfolio in 2003 merited second place
in an annual investment competition
administered by Oak Associates in
Akron, Ohio.
The second place finish earned the club a
prize of $20,000 to add to their
investment portfolio, and an additional
$2,500 for most improved performance
over the previous year. Student
Investment Club President Besnik
Abasovski, Vice President Eric Halleman,    Members of the Student Investment Club’s Portfolio Committee hold their $20,000 second
and faculty advisor Der-Ann Hsu accepted    place prize. Pictured, left to right, are Matt Muelemans, Besnik Abasovski, and Tom
the awards at a ceremony in Akron this      Wildenberg. (Not pictured is Eric Halleman.)
February.
                                            Reserve University, University of Dayton,      it,” said faculty advisor Der-Ann Hsu, “but
                                            Miami University, Northwestern University      they also gain real, hands-on experience
   “This whole experience has been          School of Law, and American University.        in sharing their ideas in a team setting
  a great inspiration to me, and a                                                         and making the hard decisions.”
                                            “We focused our investments in the
 real motivator to the other students       consumer, financial services, energy, and      “This whole experience has been a great
                                            biotech/pharmaceutical industries,” said       inspiration to me,” said Abasovski, “and a
  in the club. It’s a great feeling!”       Abasovski. Abasovski and three other           real motivator to the other students in the
                                            students make up the four-member               club. It’s a great feeling!”
                                            Portfolio Committee, which is responsible
Oak Associates is owned by James and
                                            for setting strategy and making the actual
Vanita Oelschlager, who provided initial
                                            trades. “We really benefited from a sharp
funds for the investment club in 1998.
                                            increase in the second half of the year.”
The schools earning the highest annual
returns are awarded additional money to     The 30-member club meets weekly
invest in their portfolio.                  throughout the academic year, learning
                                            about investments and interacting with
Twenty universities are involved in the
                                            investment professionals.
competition, including Mount Union
College, Ohio Wesleyan University,          “The students learn important lessons
Indiana State University, Rutgers,          about picking a strategy and sticking with
Wittenberg University, Case Western




WWW.UWM.EDU/BUSINESS                                                                                         Spring 2004 OUTLOOK 25
                 Scholarships for 2003-04
Student HONORS
                 The following business students were awarded scholarships for the 2003-04 academic year.
                 The School congratulates these individuals for their talent and hard work!

                 Alois Bulawa Scholarship               Jerry Leer/in Memory of Roy Tellier   UWM Graduate Tax Scholarship
                     Maria Isabel-Delgado, $5,000           Accounting Scholarship                Dionne C. Brewer, $5,000
                                                            Nina Amidei, $6,000                   Robert Junge, $2,500
                 Brunswick/Reichert Scholarship             Sara M. Dreher, $6,000                Kathleen F. Kenagy, $2,500
                     Tanya Renk, Semester Tuition           Stacy Johnson, $6,000                 Eileen Roubik, $2,500
                                                            Brian Maurice, $6,000                 Travis Shaw, $2,500
                 Victor Chou Finance Scholarship            Jaclyn M. Schmidt, $6,000             Chad A. Thistle, $2,500
                     Scott Brantner, $1,000                 Justin Steinberg, $6,000              Na Zheng, $2,500
                     Frank Azzolina, $1,000                                                       Michael Kumershek, $1,250
                                                        Sheldon and Marianne Lubar                Andrew Pergande, $1,250
                 Deloitte & Touche Advanced                 Scholarship                           Tori Thomson, $1,250
                     Accounting Scholarship                 Tim Calloway, $2,500                  Rosa M. Verkuilen, $1,250
                     Erika Pechacek, $1,000                 Angela C. Carter, $2,500
                                                            Melissa Lee, $2,500               UWM Tax Alumni Scholarships
                 EMBA Undergraduate Scholarship             Melissa Jewett, $2,500                Matthew Kleinow, $2,500
                     Shams Sharwani, Semester Tuition       Brett Held, $2,500                    Peter Lambert, $2,500
                                                            Clara Iyere, $2,500
                 Greater Milwaukee Foundation               Angel Johnson, $2,500             Wigchers Family
                    Wilbur & Ardie Halyard                  Trang Tran, $2,500                   Real Estate Scholarship
                    Scholarship                             Bee Yang, $2,500                      Nathan D. Shingledecker, $2,000
                     Latosha Ball, $2,500                   Kathryn Young, $2,500
                     Vincent Walker, $2,500                                                   Wisconsin State and Local Tax, Inc.
                                                        Lubar Transfer Scholarship                Graduate Scholarships
                 Herbert H. Kohl Charities, Inc.            Kiara Sturdevant, $2,500              Debra Demmitt, $2,000
                     Scholarship                            Cassandra Leigh Stoffel, $2,500       Margaret Graf, $2,000
                     Rebekah Hodgson, $1,000
                                                        MLG Commercial Real Estate            Chancellor’s Fellowships
                 Holt-Smith & Yates Advisors               Scholarship                            Mark Anderson, $4,000
                     Scholarship                            Cheryl Nowak, $2,000                  S. Patrice Colletti, $4,000
                     Jennifer Behr, $2,000                                                        Lori Cooper, $4,000
                                                        Thomas R. Perz                            Bryan Jansen, $4,000
                 Ron & Marjorie Krizek                     Accounting Scholarship                 Robert Junge, $4,000
                     Accounting Scholarship                 Brett Chabot, $1,000                  Tiffany Melis, $4,000
                     Michelle Aird, $2,000                                                        Rachel Perschke, $4,000
                                                        Rath Foundation Merit Scholarship         Wanwisa Sarnkingthong, $4,000
                 Ron & Marjorie Krizek                      Laura Baker, $7,000                   Peter Schubilske, $4,000
                     Finance Scholarship                    Benjamin Evers, $7,000                Yenny Setiawidjaya, $4,000
                     Elizabeth Surfus, $2,000               Katherine Rado, $7,000                Lori Silberman, $4,000
                                                            Adam Yaeger, $7,000                   Brock Studinski, $4,000
                 Jerry Leer Advanced                                                              Kristina Thompson, $4,000
                     Accounting Scholarship             Scribner, Cohen & Company                 Susan Trotier Russell, $4,000
                     Crystal Joy Laven, $2,000               Scholarship                          Jie Yang, $2,000
                     Melody Rutenbeck, $2,000               Marissa A. Bublavy, $1,000            Jun Du, $2,000
                     Marissa A. Bublavy, $1,000
                     Kathleen Kenagy, $1,000            US Bank Foundation Scholarship
                                                            Melissa Jewett, $5,000
                                                            Margo Saldivar, $5,000




      26 OUTLOOK Spring 2004
Message from the Development Director




                                                                                                                                       DEVELOPMENT
  S      ince I joined the UWM
         Development Office this past fall
   as the Development Director for the
                                                                                      I invite you to support the School of
                                                                                      Business Administration and its
                                                                                      students through a gift to the UWM
   School of Business Administration, I                                               Foundation. With your help, we will
   have enjoyed meeting many of our                                                   continue to expand our role as a
   alumni, and hearing about your                                                     leading urban business school that
   business education at UWM and the                                                  offers high quality management
   many successes achieved since then.                                                education.
   I have also discovered how important
   your support can be for today’s                                                    To make a gift to the UWM
   students to achieve their goals.
   Students enrolled at UWM in 2004                                                   School of Business Administration,
   face rising tuition expenses resulting                                             please contact Rhonda Plotkin,
   from a dramatic reduction in state                                                 (414) 229-3295 or
   support of the University of Wisconsin
                                             Rhonda Plotkin                           rplotkin@uwm.edu. You may
   System. In fact, state support for the
   UW System makes up 27% of total                                                    send gifts (made payable to the
   costs for the 2003-04 school year,        this support and commitment that         UWM Foundation) to UWM Office
   compared to 50% twenty years ago.         enables us to offer student
                                             scholarships that help defray the cost
                                                                                      of Development, 3271 N. Lake
   Today, in-state undergraduate tuition
   at UWM is $5,106 per year.                of tuition and help ease the burden of   Drive, Milwaukee, WI 53211,
                                             working while going to school. By        Attention: Rhonda Plotkin. Or, you
   As a leading university in the UW         offering a variety of merit- and need-
   System, UWM is charged with offering                                               may make a gift online by going to
                                             based scholarships to our business
   an affordable education to a diverse      students, we can help create an          www.development.uwm.edu and
   student body. To do so, we need to        educated workforce, which, in turn,      clicking on “Give to UWM.”
   increasingly rely on the private          has a positive impact on the Wisconsin
   support of alumni and friends. It is                                               Thank you for your support!
                                             economy – just as you do.




Honor Roll of Donors
The UWM School of Business Administration is grateful to the following alumni, friends, corporations, and foundations
for their generous gifts and payments received by the UWM Foundation from July 1, 2003 to December 31, 2003.


Accounting Programs and Scholarships
Mr. Corey A. Alman               Mr. Brian D. Brown                Mrs. Kathleen D. Cullen           Mr. Paul H. Ewig and
Mr. Jac R. Amerell               Mr. Ralph D. Bultman              Ms. Kathy A. Czerniejewski          Mrs. Joan A. Allegretto Ewig
Mr. Robert C. Andersen           Ms. Carol A. Butula               Mr. Earl R. Delaet                Dr. Paul and Mrs. Carol Fischer
Mr. and Mrs. Steven J. Bain      Mr. Joseph G. Cappozzo            Deloitte Foundation               Mr. and Mrs. W. Patrick Fogarty
Ms. Eleanor Jill Barton          Mr. Peter P. Caputa               Miss Barbara J. Demmer            Fortis Insurance
Mr. Robert J. Becker and         Mr. Norbert A. Carollo            Mr. Daniel S. Depies                Foundation, Inc.
  Mrs. Mary L. LaPorte-Becker    Mr. David J. Carter               Atty. Richard D. Depka            Ms. Cynthia K. Friauf
Mr. Michael J. Berns             Mr. Benjamin Case                 Mr. David W. Drought              Mr. Michael D. Fuss
Mr. Michael M. Berzowski         Mr. Bruce T. Champion             Mr. Anthony L. Duong              Mrs. Diane K. Galarneau
Ms. Susanne Bienaman             Dr. Rita Hartung Cheng            Mr. James W. Duquaine             Mr. Timothy A. Gensler
Ms. Sharon A. Bloom              Mr. Stephan J. Chevalier          Mr. John M. Egan                  Mr. Patrick J. Goggin
Ms. Julie A. Borchert            Mr. and Mrs.                      Mr. John C. Ericsen               Mr. John V. Goodger
Mr. Michael A. Broihahn            Thomas John Cooper              Ernst & Young Foundation          Mr. Kenneth J. Gozdowiak


WWW.UWM.EDU/BUSINESS                                                                                    Spring 2004 OUTLOOK 27
      Accounting Programs and Scholarships...continued
      Mr. William A. Grantz             Mrs. Colleen M. Lashway            Fr. Theodore E. Parks         Ms. Nicole S. Steffen
      Greater Milwaukee                 Mr. Victor Ledesma                 Ms. Linda M. Patel            Ms. Monica Julia Stehlik
        Foundation, Inc.                Mr. Walter A. Levonowich           Ms. Rebecca S. Petersen       Mr. Chad M. Steinbrecher
      Mr. Martin J. Gregorcich and      Mr. Raymond J. Lewellyn            Mr. Gerard L. Pfannenstiel    Mr. Michael J. Stello
      Ms. Maureen J. Mueller            Ms. Cynthia M. Lilley              Mr. Jade H. Phillips          Mr. Matthew J. Stockinger
      Mr. David J. Hamernik             Ms. Karen P. Loth                  Mr. Robert C. Plachinski      Mr. Jeffrey A. Stormoen
      Ms. Beverly J. Hansen             Mr. Darren W. Lumby                Mr. Frank J. Poja             Mrs. Mary A. Strautmann
      Harley-Davidson                   Lynde and Harry Bradley            Mr. Michael R. Preisler       Mr. James William Stuart
        Foundation, Inc.                  Foundation, Inc.                 Mr. Charles R. Preston        Mr. Todd D. Stucky
      Mr. Kenneth W. Hauser             Mr. Mark A. MacDonald              Mr. Michael I. Quist          Mr. Thomas R. Swinsky
      Mr. Gary M. Hewitt                Mr. Jeffrey L. Majinski            Ms. Sharon Reed               Ms. Christine A. Taylor
      Ms. Karen M. Hines                Mr. Michael A. Martinelli          Ms. Mary E. Repka             Mr. Mark A. Taylor
      Mrs. Katherine A. Hoeller         Mr. James H. Matoushek             Mr. James P. Rhemer           Ms. Jeannette Marie Thorel
      Mr. Jeffrey John Horne            Mrs. Ann Mawhinney                 Mr. Richard E. Riesen         Mr. Matthew Lee Urmanski
      Ms. Michele D. Huetter            Mr. James H. McCracken, Jr.        Rockwell International        Mr. Harold J. Van Groll, Jr.
      Mr. Kevin R. Hughes               Ms. Diane L. McDonald                 Corporation Trust          Vanguard Charitable
      Mr. Randall J. Iding              Mr. Scott E. Metzinger             Mr. John N. Rohatsch            Endowment Program
      Mr. Dean Gerald Inhoff            Mr. Martin W. Meyer                Mrs. Barbara A. Romnek        Mrs. Karen V. Visgar
      Mrs. Kathryn J. Irmiger           Mr. and Mrs. Paul T. Meyer         Mr. Robert J. Ruttgers        Mr. Mark T. Waldoch
      Mrs. Mary Margaret Jadin          Mr. Steven A. Meyer                Mr. Jeffrey J. Rzepinski      Ms. Sherry L. Ward
      Mr. Lawrence G. Janczak           Miller Matching Gifts Program      Mr. Sirous H. Samy            Wausau-Mosinee Paper
      Mr. Jeffrey Stuart Johns          Mr. Steven Jay Moglowsky           Mr. Scott M. Sattler            Corporation Foundation
      Johnson Controls Foundation       Mr. Brendan P. Moran               SC Johnson Fund               Mr. Walter L. Weber
      Mr. Ellis D. Jordan               Mr. and Mrs. Gerald J. Moriarity   Mrs. Jean M. Schmidt          Mr. Gerald S. Weiler
      Mr. Richard J. Jorgensen          Mr. David L. Moskol                Ms. Elizabeth L. Schroeder    Mr. Alan H. Wessel
      Mr. Reuben Kahn                   Mr. Arnold Mullen                  Mr. Kenneth T. Schroeder      Mr. Kenneth H. Williams
      Mrs. Pamela A. Kandziora          Mr. Edward E. Nachtsheim           Mr. Mark P. Schueller         Mr. Mark R. Williams
      Kimberly-Clark Foundation, Inc.   Mr. Jason R. Naumann               Mr. Ronald M. Schulkin        Mr. Robert B. Willkomm
      Mr. Mark D. Klusmann              Mr. Craig Paul Neuens              Ms. Marilyn J. Schultz        Mr. Frank C. Windt
      Ms. Lynne M. Kochan               Mr. Thomas J. Nissen               Mr. William A. Schultz, Jr.   Mr. William J. Winter
      Mr. Todd J. Koeppel               Mr. Alan H. Noennig                Mr. Shawn Joseph Selk         Ms. Lynn A. Witt
      Ms. Peggy J. Kovatovich           Northwestern Mutual                Mr. Gregory L. Skaar          Mr. Jeffery Myles Wiza
      Mrs. Diane I. Kretsch               Foundation                       Mrs. Mary M. Smith            Mr. Thomas J. Woppert
      Mr. Ronald V. and                 Ms. Amy Octaviany                  Mr. Mark S. Sobczak           Mr. James W. Wright
        Mrs. Marjorie Krizek            Ms. Mary O’Halloran                Mrs. Pamela J. Spenner        Ms. Rebecca L. Yakes
      Mr. Jay H. Kurtzweil              Mr. John A. Ottenberg              Mr. Kurt John Stachnik        Mr. Brian F. Ziegler
      Mr. James R. Larsen               Mr. Erik S. Owen                   Mr. Michael E. Stahr          Mr. John W. Zilavy



      Center for Technology                                                Collegial Giving
      Innovation/Management                                                Dr. Hemant K. Jain
                                                                           Mr. Atis Purins
      Information Systems
      Mr. Bruce R. Maas                  SAP America, Inc.
      SBC Foundation                     Stratagem, Inc.
      Mrs. Elizabeth M. Wilke            WhittmanHart, Inc.
      AT&T Foundation
      Dr. William Dave Haseman




28 OUTLOOK Spring 2004
Consortium for Innovative                                              Executive MBA
Manufacturing & Operations                                             Mr. V. James Andreoni                Mr. Michael John Krauski
                                                                       Mr. Robert James Birdsell            Mr. James A. Lamont
Management                                                             Ms. Norine C. Carlson-Weber          Mrs. Michelle L. Love-Johnson
                                                                       Mr. Juan M. Carrasquillo             Mr. John I. Matchette
GE Medical Systems Information Technology
                                                                       Dr. Elsa B. Cohen                    Mr. Ramon J. Mayer
Harley-Davidson Motor Company
                                                                       Ms. Kathleen S. DeKeyser             Mr. James A. McCann, CPA
International Consortium for Innovation Manufacturing
                                                                       Mr. Jose Manuel Delgado              Mr. Richard K. Riederer
Sensient Technologies Corporation
                                                                       Mr. Eric Armand Delzer               Mr. Michael J. Rupp
                                                                       Mr. James E. Engelhuber              Ms. Janet A. Schulz
                                                                       Mr. Gregory G. Gardetto              Mr. Ronald K. St. Clair
                                                                       Ms. Jennifer Hansen                  Mr. Richard L. Tomlinson
Deloitte & Touche Center for                                           Mr. John E. Illingworth              Dr. John S. Traxler
Multistate Taxation                                                    Mr. Timothy T. Kaja                  Mr. Steven J. Umland
                                                                       Mr. Michael S. Knapek                Mr. and Mrs. Joseph P. Wenzler
Deloitte Foundation                                                    Dr. Mahendr S. Kochar
Mr. Hanna Nabil Hinnawi                                                Mr. Jeff Scott Koeper
Mr. and Mrs. Thomas G. Kamasky




Enhancing Academic Excellence                                          Helen Bader Institute for
A.O. Smith Foundation, Inc.        Mr. Robert M. Kozub
                                                                       Nonprofit Management
Bank One                           Dr. Leslie Kren                     Greater Milwaukee Foundation, Inc.
Dr. Bruce A. Bender                Dr. Robert H. Lehner II
Mr. Amit Bhatnagar                 Dr. Richard D. Marcus
Mr. Stephen E. Check
Chirch Global, LLC
                                   Mr. Michael L McBain
                                   Dr. Janice S. Miller
                                                                       Professorships
Mr. George D. Dalton               Mr. Daniel J. Minahan               Altria Group, Inc.
Mr. Jose Manuel Delgado            Mrs. Patricia J. Nelson             Mr. Hans G. Storr
Mr. Leonard J. Goldstein           Mr. David O. Nicholas
Mr. John C. Healy                  Dr. Purushottam Papatla
Mr. James J. Horvath               Dr. Keshavamurthy Ramamurthy
Dr. Der-Ann Hsu                    Dr. Jude A. Rathburn                Scholarships
Mr. Thomas G. Jeske                Mr. Michael J. Rupp
Ms. Janelle Marie Jonason          Tax Association of Milwaukee Inc.   Dr. Clarence T. Chou                 Mr. and Mrs. David G. McKendry
Mr. G. Frederick Kasten            Washington Mutual Foundation        Greater Milwaukee                    Ms. Lilian Ng
Mr. James K. Kasum                 Mr. Rick Roger Wedel                  Foundation, Inc.                   Mr. James P. O’Brien
Mr. Yong Cheol Kim                 Mr. Randal J. Wilson                Mr. and Mrs. John T. Jacobus         Dr. Carolyn Kelly Ottman
Mr. Gale E. Klappa                                                     John T. and Suzanne S. Jacobus       The Polacheck Company, Inc.
                                                                       Family Foundation, Inc.              Souder Family Foundation
                                                                       Richard G. Jacobus                   Tax Association of Milwaukee Inc.
                                                                         Family Foundation, Inc.            U. S. Bank Wisconsin
Entrepreneur Internship Program                                        Mr. and Mrs. William W. Kowalski     Mr. and Ms. William A. Wigchers
                                                                       Lubar Family Foundation, Inc.
Buyseasons, Inc.                   Mr. Jerald M. Jendusa
Centare Group, Ltd.                Nelson Container Corporation
EMTEQ                              techworks, inc.
Inphinet Interactive               We Energies
  Communications, Inc.




WWW.UWM.EDU/BUSINESS                                                                                        Spring 2004 OUTLOOK 29
Unrestricted Funds
Accenture                            Mr. Timothy T. Brown               Mr. John E. Eben                    Mr. John A. Graff
Mr. Terrance E. Adams                Mr. Kenneth R. Bruckbauer          Mr. Todd David Eber                 Mr. Robert M. Graham
Adept Leathers & Footwear            Mr. Alan Ervin Buechel             Ms. Maxine H. Effenheim             Mr. Gary P. Grajczyk
Accessories, Inc.                    Mr. Ralph J. Bureta, Jr.           Mr. Daniel James Eggers             Mr. Christopher J. Gramling
Ms. Pamela L. Aiken                  Ms. Laurie A. Burghardt            Mr. Peter Craig Ehlers              Mr. Robert C. Graveen
Mrs. Rosanne Aman                    Mr. Russell Derek Burghardt        Mr. Stein Ingvar Eidsvag            Greater Milwaukee
Mr. Mark S. Ambrosius                Mrs. Kerry S. Burke                Mr. Mark A. Eisendrath                  Foundation, Inc.
American Appraisal Trust             Mr. Kevin J. Burns                 Mr. Lawrence E. Elias               Ms. Kathleen M. Greb
Ms. Deborah L. Andersen              Mr. James P. Schupp and            Mr. Richard R. Elias                Mr. James R. Greenway
Mrs. Melodi M. Andersen                Ms. Kathleen M. Byrnes           Mr. John Charles Elliott            Mr. Donald A. Gregory
Ms. Kathleen Marie Anger             Ms. Claire A. Caldini              Mr. James R. Ellsworth              Ms. Courtney A. Gross
Mr. Thomas J. Anthony                Mr. Glenn T. Campbell              Ms. Lynn M. Engel                   Mr. David Gruber
Mrs. Linda L. Arend                  Ms. Theresa Marie Caragol          Ms. Susan A. Espland                Mr. Jeffrey J. Gruber
Ms. Lori B. Armstrong-Schulte        Mr. Patrick B. Carey               Mr. Gary Lee Exner                  Mr. Earl V. Gruendeman
Ms. Hilary H. Aspenleiter            Mr. Jeffrey G. Carrigan            Mr. Lee H. Fairchild                Mr. Robert L. Grunert
Mrs. Marcia D. Attmore               Ms. Laurie E. Cataldo              Mr. Robert Lloyd Feeley             Ms. Lea E. Grunig
Mr. Jeffrey S. Bachmann              Ms. Cindy L. Ceschi-Kraus          Mr. Ethan Daniel Fernhaber          Ms. Pamela A. Grzybowski
Mr. Mark W. Baivier                  Mr. Melvin A. Check                Mr. Gary A. Fick                    Mr. John C. Haertel
Mr. Eric T. Baker                    Mr. Brien P. Christopherson        Mr. Leon J. Fiegel                  Mr. Roger R. Hahn
Mr. Eric T. Baker                    Mr. Eric L. Christus               First Midwest Bancorp, Inc.         Mr. Brian Lee Handeland
Mr. Richard T. Balge                 Ms. Lisa M. Clark                  Mr. John T. Fix                     Mr. Bradley E. Handrich
Mr. Peter Balint                     Ms. Lynn M. Coenen                 Mr. Allen J. Fletcher               Ms. Nancy K. Hanneman
Bandag, Incorporated                 Mr. Thomas G. Collier              Mr. Donald R. Flinn                 Mr. Bryan I. Hansen
Bank of America Foundation           Mr. Michael D. Colton              Ms. Barbara Ann Flores              Mr. Irv H. Hansen
Bank One Foundation                  Mr. Kevin Conerton                 Mr. Thomas M. Flowers               Ms. Susan J. Hansen
Mr. James D. Barden                  Mr. Michael R. Corbett             Mr. and Mrs. James F. Flynn         Mr. Brad J. Hanson
Mr. David A. Barras                  Mr. Matthew G. Corby               Mr. Donald Forecki                  Mr. Trevor Harder
Mr. Richard C. Bemis                 Mrs. Kristin C. Coulthurst         Ms. Valerie A. Forret               Mr. Gerald S. Hardes
Mr. Michael J. Benes                 Mr. Lawrence A. Crane              Fortis Insurance Foundation, Inc.   Harley-Davidson Foundation, Inc.
Mrs. Susan D. Beresford              Mr. James F. Crawford              Mr. Alan T. Fraser                  Mrs. Mary J. Harms
Mr. Gregory G. Berg                  Mr. Curt S. Culver                 Mr. Bruce J. Fraser                 Mr. Scott A. Hartwig
Ms. Jolene R. Birkelo                Mr. James A. Cunningham            Mr. Marshall J. Frey                Mr. Ronald H. Heidelbach
Mr. Steven W. Blatter                Ms. Janaan C. Cunningham           Ms. Beth E. Frieseke                Mr. Robert Joseph Heidenrich
Mr. Kenneth R. Bloss, Jr.            Mr. Richard J. Czachor             Mr. Jiro Fukuyama                   Mr. Thomas E. Heier
Mr. Francis W. Bock                  Mr. Thomas J. Czisny               Mr. Matteo J. Furno                 Mr. Gary H. Heilmann
Mr. Glen Alan Boedecker              Mr. Gary M. Dahms                  Ms. Susan L. Gain                   Mr. Peter Heinkel
Mr. Lloyd D. Borland                 Mr. Lee A. Dayne                   Mr. Christopher C. Gaines           Mr. John S. Heinzelman
Mr. Joseph P. Bourassa               Mr. Eugene R. De Rath              Mr. Mark J. Ganas                   Mr. Lawrence B. Henderson
Mr. John P. Bowen                    Mr. David A. De Sutter             Mr. Dana A. Gates                   Mr. Thomas Paul Hennings
Brady Corporation                    Mr. Robert W. DeGroot, Jr.         Ms. Tristann L. Gaulke              Mr. Brian J. Hense
Ms. Sharon Dorothy Brandt            Mr. Mark A. Desris                 GE Foundation                       Mr. and Mrs. James R. Herzfeld
Mr. Douglas A. Braun                 Ms. Renny L. Diedrich              Ms. Linda Lyn Gehring               Mr. Michael W. Hetzel
Mr. James J. Breitenfeld             Mr. Paul J. Dix                    Mr. John E. Geiger                  Hilker & Associates
Ms. Theresa E. Breunig-silbernagel   Ms. Mary Alice Dooley              Mrs. Anne T. Genal                  Mr. David Leroy Hilker
Briggs & Stratton Corp.              Mrs. Karen K. Dorece               Mr. Mark C. Gengler                 Ms. Margaret C. Hines-Goetzinger
  Foundation, Inc.                   Mr. and Mrs. Daniel C. Dougherty   Mr. C. David Glaeser                Mr. Michael R. Hirsch
Bristol-Myers Squibb                 Mr. David Scott Dries              Mr. Jeffrey T. Gleason              Mr. David K. Ho
  Foundation, Inc.                   Mr. Robert James Dude              Mr. Dudley J. Godfrey, III          Mr. Eric J. Hofmann
Mr. Donn R. Broich                   Mr. Rolston A. Dyer                Mr. Richard S. Godfrey              Mr. John G. Horky
Mr. Charles E. Broihier              Mr. Thomas E. Dyer                 Mr. and Mrs. Gerardo H. Gonzalez    Mr. Ronald J. Hupe
Mrs. Margaret H. Broker              Eaton Charitable Fund              Mrs. Linda J. Gorski                Illinois Tool Works Foundation
Mr. Robert Lee Brooks                Mr. James M. Ebben                 Mr. Gregory Steven Goss             Ms. Sharon A. Isaac



30 OUTLOOK Spring 2004
Mr. William H. Jacobs                Mr. Thomas E. Kvasnicka          Mr. Peter R. Milewski             Ms. Mary J. Paxton
Mr. George S. Jaloviar               Mrs. Carol G. Kwiatkowski        Mr. Peter R. Milewski             Mrs. Jeanette G. Peckerman
Mr. Theodore S. Jankowski            Mr. Joseph P. La Rosa            Mr. Howard C. Miller              Mr. Jon Lawrence Peltier
Mr. Thomas P. Jenkins                Mr. W. Tony Lam                  Mr. Mark A. Miller                Mr. James R. Pennow
Mr. C. Richard Jeppesen              Mr. Thomas J. Lamb               Mr. Mark G. Miller                PepsiCo Foundation
Mr. James E. Jeske                   Landmark Construction, Inc.      Mr. Richard D. Miller             Mr. Daniel R. Petras
Jewish Community Foundation of       Mr. Joseph D. Landry             Mr. Charles O. Mills              Mr. Dirk M. Pfeil
   the Milwaukee Jewish Federation   Ms. Joanne Lazirko               Mrs. Lynn L. Milner               Mrs. Donna J. Pflughoeft
Mr. Mark G. Jodarski                 Mrs. Beth A. Leffelman           Mr. Robert W. Moczulewski         Mr. Lawrence J. Pierzchalski
Mr. Steven C. Johannes               Mr. Gregory F. Lehrkamp          Mr. Thomas J. Moder               Mr. Steven J. Pietroske
Johnson Controls Foundation          Ms. Marie T. Leithauser          Mr. James R. Moldenhauer, II      Mr. David A. Pike
Mr. Daniel E. Johnson                Mr. Mark N. Lemke                Mr. Michael B. Molepske           Mr. John B. Pike
Mr. Eugene L. Jones                  Mr. Thomas H. Lemke              Mr. Alan W. Mooney                Mr. Jeff J. Pink
Mr. Michael J. Jungen                Ms. Angela Joan Leonard          Mrs. Nancy J. Mooney              Pioneer Metal
Mr. Andrew Scott Justman             Mr. Timothy R. Leverenz          Mr. and Mrs. James A. Morey          Finishing Corporation
Mr. Peter John Kafkas                Dr. Ilene F. Levin               Mortgage Guaranty                 Mrs. Maria Lynn Piotter
Mr. Jeffrey A. Kahl                  Ms. Charlotte Jane Liddicoat       Insurance Corporation           Mr. John B. Pittman
Mr. Jeffrey Scott Kaland             Mr. Lawrence A. Liebe            Mr. Michael F. Moylan             Mr. Kenneth G. Place
Mr. John J. Kane                     Ms. Cindy H. Lindquist           Mr. Joseph G. Mozina              Mr. Gary D. Plouff
Mr. Carl R. Karch                    Ms. Suzi Link-Manson             Mr. Robert M. Mueller             Mr. Gregg A. Plouff
Mr. Jamie L. Karls                   Ms. Connie J. Lloyd              Mr. Donald K. Mundt               Mr. Eric G. Plue
Mrs. Janice A. Karr                  Mrs. Mary B. Lodes               Mrs. Sheri L. Murphy              Mr. and Mrs. William A. Pohlmann
Mr. Garret R. Kastelic               Mrs. Joanne M. Looze             Ms. Kathleen Ann Nadolski         Mr. Keith F. Ponath
Mrs. Alice D. Kastello               Lubar Family Foundation, Inc.    Mr. Tom J. Namowicz               Mr. Richard B. Pretat, Jr.
Mr. Robert L. Kastern                Mr. David J. Lubar               Mr. Philip G. Neary               Quad Graphics, Inc.
Mr. Douglas J. Kelly                 Mr. Thomas J. Lubniewski         Mr. Jack T. Nehmer, Jr.           Mr. and Mrs. Matthew L. Radish
Ms. Jeanne A. Kennedy                Mr. Thomas A. Luedtke            Mr. Douglas Jerome Neilson        Mr. Mark David Rakowski
Key Foundation                       Mrs. Joanne L. Lukas-Szymaszek   Mr. Joseph M. Nellis              Dr. Cornelius J. Rater
Mr. Richard A. Keyes                 Mr. John J. Luy                  Mr. Karl A. Neumann               Reader’s Digest Foundation
Kikkoman Foods Foundation, Inc.      Mr. Kevin J. Mahoney             Dr. Clarence R. Newberry          Mr. James D. Redman
Kilbourn Merchant Corporation        Mr. Paul V. Malloy               Mr. Donald J. Nichols             Ms. Jean Marie Reed
Mr. Jerome D. King                   Mr. Richard N. Manhoff           Ms. Laurie P. Nielsen             Mr. William S. Remiker
Mr. Thomas D. King                   Ms. Char E. Mano, CPA            Mrs. Elaine M. Nissen             Mr. David R. Remstad
Ms. Linda B. Kirmis                  Mrs. Julie Ann Marineau          Northwestern Mutual Foundation    Mr. John J. A. Reuter
Mr. Phillip J. Kleiber               Ms. Colleen Carol Marquardt      Mrs. Honora A. Norton             Mr. Edward J. Ribbens
Ms. Debra Ann Kloc                   Mr. Paul C. Mason                Mr. Jack J. Nutter                Mr. Michael A. Richmond
Mr. David I. Knoll                   Mr. David E. Matasek             Mr. Daniel J. Obradovich          Ms. Eugena R. Ridanpaa
Mr. Raymond A. Knutilla              Mr. Jonathan D. Mathews          Occidental Petroleum              Mrs. Mary O. Riemer
Mr. Raymond H. Knutson               Mr. Greg W. Maurice                Charitable Foundation           Mr. John M. Rindt
Mr. Robert A. Kocen                  Mr. and Mrs. Barry L. Mazin      Mr. John W. Oleniczak             Ms. Cheri Wallace Robinson
Mr. Manfred G. Koehler               Mr. Scott M. McBrair             Mrs. Christine A. Olson           Mr. Edward W. Roessl
Mrs. Peggy M. Kojima                 Ms. Nancy J. McGuire             Mrs. Jean C. Olson                Mr. Robert Rogalinski
Mr. Mark A. Kolasinski               Mr. John H. Melamed              Mr. Mark G. Olson                 Ms. Lori A. Rogers Richards
Mr. Dennis A. Kolowith               Merrill Lynch & Co.              Mr. Michael W. Olson              Ms. Cynthia A. Rooks
Mr. and Mrs. Charles A. Konkol         Foundation, Inc.               Mr. Robert J. Oonk                Mr. Kimball S. Roots
Mrs. Cynthia J. Kortebein            Mrs. Carol A. Mesheske           Mr. Thomas E. Ordinans            Mr. James G. Rosenbaum
Mr. Nick Kozic                       Mr. Richard Meeusen              Ms. Lisa Paap                     Mr. Brian E. Roser
Mr. Thomas J. Kraker                 Mr. Arthur R. Meyer              Mr. William H. Padfield           Ms. Pamela Jean Roskopf
Mr. William L. Kraus                 Mr. James A. Meyer               Mr. David Lawrence Palay          Mr. Richard R. Roy
Mr. John W. Kroening                 Ms. Joan A. Meyers               Ms. Michelle M. Pankonien         Ms. Mary G. Runge
Mr. Edward J. Krueger                Mr. Todd C. Michalek             Mr. and Mrs. Jeffrey R. Paro      Mr. Thomas E. Sakar
Mr. Bradley J. Kupfer                Mr. James C. Michalski           Mr. Thomas D. Pawlak              Mr. James C. Salsini



WWW.UWM.EDU/BUSINESS                                                                                   Spring 2004 OUTLOOK 31
   Mrs. Florence M. Sampson               Mrs. Terri A. Siegel                       Mrs. Sally A. Tenboer                      Ms. Lisa M. Waite
   Mr. John S. Savas                      Mrs. Yvonne M. Siira                       Mrs. Mina K. Tepper                        Mr. Timothy J. Waldoch
   SBC Foundation                         Ms. Margot E. Smith                        Mr. William G. Thelen                      Ms. Susan A. Walker
   SC Johnson Fund                        Ms. Janet L. Sobczak                       Mr. David K. Thiel                         Ms. Christina H. Walters
   Dr. Michael S. Schadewald              Sommerhauser Foundation, Inc.              Mr. Ronald G. Thimm                        Mr. Russell L. Wandsneider
   Mr. Bruce S. Schauer                   Mr. Michael P. Sommers                     Mr. Michael B. Thompson                    Mr. John W. Wartinbee
   Dr. Eric and                           Mr. David E. Sonnentag                     Thrivent Financial for Lutherans           Mr. William G. Weiler
     Mrs. Virginia Schenker               St. Francis Bank Foundation, Inc.          Mrs. Lisa K. Toner                         Mr. William R. Weiss
   Mrs. Mary Beth Schlecht                Mr. Jeffrey Stanislawski                   Mr. Patrick T. Torres                      Ms. Sharon M. Weissenburger
   Ms. Marianne G. Schley                 Sta-Rite Industries, Inc.                  Dr. Elizabeth R. Towell                    Mr. Eugene H. Wellenstein
   Mrs. Elaine B. Schmitt                 Mr. and Mrs. William J. Starr              Tribune Media Services                     Wells Fargo Foundation
   Mr. Thomas R. Schoewe                  Mr. Paul J. Stawicki                       Mrs. Charlene A. Trimberger                Mr. Robert E. Wendt
   Ms. Renate Schulz                      Mr. Leonard F. Stecklein                   Mr. Charles Lee Ulland                     Mr. Charles P. Wenthur
   Seagate Technology                     Mr. William J. Steele, Jr.                 U.S. Bancorp Foundation                    Mr. Michael Jon Wesner
   Mr. Ronald E. Searles                  Mrs. Susan L. Steffen                      Dr. Marsha R. Van Egeren                   Mr. Neil C. Wester
   Ms. Jill Angela Seeger                 Mrs. Pamela Jo Sterling                    Mr. Mark A. Van Engen                      Mr. Kenneth John Weyek
   Mr. Jeffrey S. Senkerik                Mr. Kenneth L. Streit                      Mrs. Angelika E. Van Scyoc                 Mr. Raymond J. Whalen
   Sentry Insurance Foundation, Inc.      Mr. Gary D. Strelow                        Vanguard Charitable                        Mr. Robert J. Wheeler
   Ms. Therese A. Sgarlata-Lutz           Mr. Richard G. Strong                         Endowment Program                       Mr. Bruce D. White
   Ms. Judith Ann Shanley                 Mr. Thomas J. Strupp                       Mrs. Margie Verhelst                       Mr. Donald R. Williams
   Mr. Randal L. Sharbuno                 Mr. Richard J. Styza                       Mr. Ronald R. Vermillion
   Mrs. Roberta Z. Shelton                Ms. Laura Anne Suhm                        Mr. Allan W. Vetting
   Mr. Stephen J. Shenkenberg             Mr. Paul H. Tabet                          Ms. Julie A. Voeck
   Ms. Kathy A. Shields                   Mr. Thomas R. Talajkowski                  Mrs. Beth S. Vogel
   Mr. James E. Short                     Mr. Scott M. Tamms                         Mr. Richard David Wachter
   Mr. Harvey D. Shovers                  Mr. Scott E. Taychert                      Mr. Robert J. Wagner



                 We make every effort to ensure accuracy. If your name has been omitted, misspelled, or incorrectly listed, please accept our apologies
                    and contact Kristine Piwek at (414) 229-6297 or kpiwek@uwm.edu so that you can be properly recognized in the next issue.




32 OUTLOOK Spring 2004
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