A Brush with History Students Find Bank Credit Linked to Other .pdf

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					                                          SPRING / SUMMER 2002

                                          VOLUME 14 NUMBER 2

             A Brush with History
Students Find Bank Credit Linked to Other Services
       Global Integrative Post-September 
Georgetown Business is
published during the academic
year by The McDonough School
of Business for alumni, parents,
friends, and business colleagues.
Christopher P. Puto, Ph.D.
Senior Associate Dean
Joseph Mazzola, Ph.D.
Elizabeth Shine g’99
Contributing Writers
Tom Price
Susan Price
Elaine Ruggieri, apr
Editorial Assistant
Carin Dopieralski b’03
Keith Tishken
John Casey (mba’02)
Ates Celep (mba’02)
Jason Claire (mba’02)
Mona El-Banna (mba’02)
Ryan Orner (mba’02)
Michelle G. Jones (mba’02)
Nancy Van Meter
Georgetown Business
welcomes inquiries, updates,
opinions and comments expressed
by its readers. Letters should be
addressed to:

the editor
Georgetown Business
dean’s office
georgetown university
the mcdonough school
of business
old north building
washington dc 20057

phone: 202-687-4080
                                                    Letter from the Dean

                                                        n the months after September 11, the Mosler paintings in Old North,

                                                        which depict significant scenes in the nation’s founding, have

                                                        acquired a new significance. Painted at the turn of the twentieth

                                                    century, they celebrated a revived interest in patriotism. Today, they

                                                    serve to remind us of our democratic values, values that have enabled

                                                    the creation of capitalism, and by extension, business education.

                                                    While we celebrate Old North’s beautiful art in this issue, other creative

                                                    endeavors have unfolded this semester at the McDonough School of

                                                    Business. We’ve launched a new Center for Business and Public Policy,

                                                    and a group of undergraduates saw the results of their independent

                                                    study project featured in the Wall Street Journal and Business Week.

                                                    We are offering a new undergraduate concentration in Operations

                                                    and Information Management, and several of our students have won

                                                    awards, including a Fulbright scholarship.

                                                    From art to awards to this very magazine—all these accomplishments

                                                    prove that in essence, business is fundamentally creative. We hope you

                                                    enjoy the results as much as we enjoy the process.

                                                    Christopher P. Puto, Ph.D.



Inside Information . . . . . . . . . . . . . 2

MSB Students’ Research
Links Bank Credit
with Other Services . . . . . . . . . . . . 8

A Brush with History . . . . . . . . . . . 9

Global Integrative Gains
Increased Relevancy
Post-September 11 . . . . . . . . . . . . 14

Alumni Notes . . . . . . . . . . . . . . . . . 23

Inside Information

                                         McDonough M.B.A.s Take Job Hunt                          Reza Moshir-Fatemi (MBA’02), past president of
                                         on the Road                                              the European association, who was the primary
                                              n a sluggish economy, McDonough M.B.A.              organizer of the London Trek. “Georgetown Uni-

                                         I    students weren’t sitting tight waiting for jobs
                                              to materialize. About 100 students took to
                                         the road this year, promoting the school and net-
                                                                                                  versity has a very good name in Europe,” said
                                                                                                  Moshir-Fatemi, a British citizen. “We wanted to
                                                                                                  capitalize on the Georgetown name and get the
                                                                                                  business school more highlighted.”
                                         working during Career Treks to Madrid, Lon-
                                         don, Miami and San Francisco.                                  During each Trek, students visited compa-
                                              The purpose of the Treks was to expand              nies, met company executives and socialized with
                                         employers’ awareness of the school, especially in        alumni. The Treks were organized by student
                                         Europe—which will boost McDonough students’              clubs with help from alumni. Alums were particu-
                                         prospects in the future.                                 larly active in the Miami Trek, according to Gary
                                              “You get to understand better the companies         Chong-Hon (MBA’02), a citizen of Panama and
U.S. News & World Report                                                                          president of McDonough’s Inter-American Busi-
                                         and the geographic region where they operate,”
Ranks Georgetown’s                                                                                ness Association at the time of the Trek.
                                         said Sergio Iranzo, president of the Georgetown
McDonough M.B.A.                                                                                        Miami seemed an ideal Trek site for the
                                         M.B.A. European Business Association, which
Among Nation’s Elite                                                                              club because the city is “the gateway for Latin
                                         sponsored the Madrid and London Treks. “In
In its April 5 Best Graduate Schools
                                         Spanish culture,” added Iranzo, who is Spanish,          America,” Chong-Hon said. Albert Bocock
issue, U.S. News & World Report                                                                   (MBA ‘96), finance vice president for two related
                                         “a lot of relationships need personal interaction.
ranked Georgetown’s McDonough
                                         So a person who participates in these events is          companies that do business in Central America
School M.B.A. program at #24. This
                                         more likely to get a job offer than someone who          and the United States, arranged most of the
places Georgetown’s M.B.A. program
among the top six percent of 352         has not.”                                                company visits with help from other members of
accredited American M.B.A. programs           Students benefited from personal contacts            the Georgetown Club of Miami.
surveyed. Georgetown continues
                                         made in the San Francisco Bay area as well, said               Bocock urged other alumni clubs to help
its representation among the top 25                                                               with Treks in their communities and said the
                                         John Casey (MBA’02), co-president of the Cal
M.B.A. programs in U.S. News, last
                                         Trek Club, which organized events in Palo Alto           Miami club would offer advice.
year placing at #22.
                                         and San Francisco.                                             “I don’t know who enjoyed the event more,
“We are pleased to be recognized by                                                               us or the students,” Bocock said.
                                              The Treks also “get the Georgetown M.B.A.
U.S. News and World Report as being
among the elite M.B.A. programs in       name to the attention of more companies,” said
the U.S.,” says Christopher Puto, dean                                                  McDonough M.B.A.s at Spain’s Palacio de la Moncloa during Madrid Trek.
of the McDonough School.

U.S. News and World Report surveyed
all 352 accredited master’s programs
in business, and calculated rankings
based on a weighted average of
several quality indicators, including
reputation by academic and corporate
recruiters, placement success, and
student selectivity.

The U.S. News and World Report rank-
ings are available at www.usnews. com.

2     The McDonough School of Business
                                                                                                                  September 11 Victims
                                                                                                                  Through Awards
                                                                                                                  In the last issue of Georgetown Busi-
                                                                                                                  ness, we neglected to mention that
                                                                                                                  September 11 victim Joe Shea (B’76)
                                                                                                                  is survived by sister Kathy Shea (B’80)
                                                                                                                  and brothers Tom and Francis Shea.
                                                                                                                  The Shea family has established the
                                                                                                                  Joseph Shea Memorial Scholarship
                                                                                                                  Fund at Georgetown to be awarded to
                                                                                                                  the children of September 11 casualties
                                                                                                                  or those who otherwise show need. To
                                                                                                                  make contributions to the scholarship,
                                                                                                                  please contact David Sears at

                                                                                                                  Mary Balmaceda-Roy (MBA’02)
                                                                                                                  was the recipient of the first annual
                                                                                                                  Daniel Walker McNeal Service Award,
                                                                                                                  presented at Georgetown’s M.B.A.
                                                                                                                  Award and Diploma Ceremony May
                                                                                                                  17. The McNeal Service Award is in
                                                                                                                  honor of Daniel McNeal (MBA’00), who
                                                                                                                  died during the September 11 terrorist
                                                                                                                  attacks on the World Trade Center. It is
                                                                                                                  awarded to the graduating student in
                                                                                                                  the Georgetown M.B.A. program who
                                                                                                                  best exemplifies the finest characteris-
                                                                                                                  tics of a successful Georgetown gradu-
Roger Ailes, chairman and CEO of Fox News (l) and Barbara Krumsiek, President and CEO of the Calvert Group (r),   ate. “The McNeal Award is the preemi-
were speakers at the M.B.A. and undergraduate commencements respectively.                                         nent student award given at
                                                                                                                  graduation,” said Marilyn Morgan,
                                                                                                                  associate dean and director of the
                                                                                                                  M.B.A. program.

                                                                                                                             Spring / Summer 2002           3
Inside Information

Credit Research Center Study Finds                       Consumer debt has soared in recent years
Financial Counseling Effective                     —up from $1.2 trillion in 1996 to $1.65
          redit counseling works. That is the      trillion in 2001. Consumer bankruptcy filings

C         key conclusion of a study by
          McDonough’s Credit Research
Center in cooperation with the nonprofit
                                                   rose from 1.2 million in 2000 to 1.5 million
                                                   in 2001. More than 1.5 million families con-
                                                   tacted foundation affiliates for help in 2000.
                                                   Approximately 880,000 entered counseling
National Foundation for Credit Counseling
and Lundquist Consulting Inc.                      that year, about a third of whom agreed to
     The conclusion is important to the credit     follow formal debt management plans. The
industry, which subsidizes counseling pro-         other two-thirds—like those studied—
grams, and to government officials, who have        received counseling.
been mandating counseling in a growing                   Despite widespread use of credit counsel-   The M.B.A. Finance Club recently

number of circumstances, Research Center           ing, Staten said, there was no known empirical    launched a new “Bulldog & Bear”
Director Michael E. Staten said.                   study of its impact. Creditors have been asking
                                                                                                     logo. Drawn by Wall Street Jour-
     Staten called the findings “good news for      for evidence that subsidizing counseling is
                                                                                                     nal artist Nancy Januzzi, the logo
both consumers and creditors. It makes the         worthwhile.
                                                         The Credit Research Center will release     features Georgetown’s Jack the
case that financial counseling helps consumers
                                                   a companion report later this year on how         Bulldog, representing the bull side
help themselves.”
     The researchers identified 14,000 clients      well participants in formal debt management       of the market, fighting a bear.

who received one-on-one counseling from            plans fare in the years after they resume man-
affiliates of the foundation during 1997 in         aging their finances on their own. The reports
Georgia, Illinois, California, Arizona and         are part of the center’s investigation of “how
Texas. The clients’ credit records over the next   people make choices when they’re faced with
three years were analyzed and compared with        high financial difficulty,” Staten said.
anonymous credit bureau data for similar
individuals and families who were not counseled
by foundation affiliates.
     On measures of creditworthiness—such
as late payments, outstanding debt and credit
bureau scores—the clients improved their
performance and performed better than the
control group.                                                                                       Sean Meckley (B’02) received a
                                                                                                     Fulbright Scholarship in April to study
                                                                                                     at the Vienna University of Economics
                                                                                                     and Business Administration this fall.
                                                                                                     Meckley, who majored in international
                                                                                                     business and finance, will examine the
                                                                                                     privatization of Central and Eastern
                                                                                                     European banks and the involvement
                                                                                                     of Austrian banks in this process.

4    The McDonough School of Business
Business School to Launch New                                         Georgetown M.B.A. Represented
OPIM Concentration                                                    on Case Competition Winning Team
          he McDonough School of Business will launch a                         ndrew LaVanway (MBA’03) was a member of the win-

T         new undergraduate concentration, Operations and
          Information Management (OPIM), this fall.
      “The emergence of integrated computerized planning
                                                                      A         ning team in the first annual Simon School-Johnson
                                                                                School Case Competition in Rochester, NY, April 5–7.
                                                                      Other members of the winning team included M.B.A.s from the
systems in everything from manufacturing facilities to investment     business schools at the University of Rochester (Simon), Univer-
exchanges has led to a tremendous demand for professionals who        sity of Maryland (Smith), Purdue (Krannert), and Tulane (Freeman).
understand business processes and how to enhance them using                 The competition, sponsored by General Mills, focused on a
information systems,” says Professor Keith Ord, one of the            marketing case in the food products industry. Students were given
faculty involved in developing the concentration.                     five hours to analyze the case and develop proposals for leveraging
      The concentration will consist of five three-credit courses,     an existing website to create demand in a declining category.
including three required courses in databases, global logistics             Other first-year Georgetown M.B.A.s participating in the
and supply chain management, and decision support systems.            competition included Rachel Simpson, David Luks, Frank
Students can select from a variety of electives to round out the      Bracken and Dave Haber. Among the thirteen graduate business
concentration. Classes will be taught by operations management        schools represented at the competition were Kellogg (Northwestern),
and information sciences faculty within the business school.          Haas (UC Berkeley), Sloan (MIT), and Yale Graduate School of
      The new concentration will prepare students for careers         Business (Yale).
in consulting, operations, planning and systems analysis. Ord also          “Case competitions are a great opportunity to take the M.B.A.
noted it could be valuable to those entering finance and marketing     tools out for a test-drive and to compare notes with colleagues
because it provides strong technological and quantitative skills      from other schools,” said LaVanway.
required for decision making.                                               The Georgetown M.B.A.s participation in the event was
      Several business schools already offer similar concentrations   sponsored by marketing professor Bob Thomas.
to OPIM, including Maryland, Penn State, and Wharton.
      “OPIM is a valuable concentration,” notes Ord. “Graduates
will be able to understand the structure of an organization,
create databases that provide an effective overall description
of its operations, and use those databases to make timely and
efficient policy decisions.”

                                                                      Andrew LaVanway (MBA’03) (far left) with members of the winning team at the
                                                                      Simon School-Johnson School Case Competition.

                                                                                                                          Spring / Summer 2002      5
McDonough Launches
New Center to Explore Business
and Public Policy
by Elaine Ruggieri

                   $1.5 million commitment                year’s Workplace Safety Summit held at                   venue to examine the interplay between

A                  has enabled the
                   McDonough School of
                   Business to establish
                   a new Center for Business
and Public Policy. The Center, launched
in February, will engage scholars, business
people and policy makers in key business,
                                                          Georgetown. The conference brought
                                                          together for the first time corporations,
                                                          nonprofits, government agencies, labor
                                                          officials, activists, and academics to debate
                                                          workplace safety and explore ways to make
                                                          workplace safety a national priority. The
                                                          Center sponsored the second Workplace
                                                                                                                   business and public policy, and workplace
                                                                                                                   safety as an issue needs visibility and
                                                                                                                   research to make it real for policymakers.”
                                                                                                                         Workplace injuries and fatalities cost
                                                                                                                   American industry and taxpayers at least
                                                                                                                   $170 billion a year in lost productivity,
                                                                                                                   wages, and compensation.
economic, regulatory and ethical issues                   Safety Summit in April (see sidebar).                          According to Mayo, the CBPP has
confronting U.S. and international business.                   John W. Mayo, director of the new                   also developed an active fellows program
     As part of this broad mission, the                   Center and professor of economics, busi-                 to encourage research on business/policy
Center is concentrating first on workplace                 ness and public policy at McDonough,                     matters and introduced a special course on
safety. This issue spurred the creation of                says, “Georgetown and its location in the                health and safety management in the
the Center following the success of last                  nation’s capital provide a perfect, neutral              M.B.A. program. In addition, the Center
                                                                                                                   plans to host a seminar on ethical issues of
                                                                                                                   workplace safety, and will continue to host
                                                                                                                   the Workplace Safety Summit annually.
                                                                                                                         The Center is sponsored by the
                                                                                                                   American Red Cross, Delta Airlines,
                                                                                                                   DuPont Company, the Laborers Health
                                                                                                                   and Safety Fund of North America, and
                                                                                                                   the Trucking Association of America. The
                                                                                                                   Center has also formed working relation-
                                                                                                                   ships with Ford Motor Company, General
                                                                                                                   Motors Corporation, the National Safety
                                                                                                                   Council, the Occupational Health and
                                                                                                                   Safety Administration, and United Farm
                                                                                                                   Workers. Forty-five members of the
                                                                                                                   McDonough faculty are serving the
                                                                                                                   Center as faculty associates.
                                                                                                                         “The timing is perfect for a center
                                                                                                                   like this. It will provide a neutral forum
                                                                                                                   for policy makers with different opinions,
                                                                                                                   but with similar principles, to debate
                                                                                                                   issues of mutual concern,” says Mayo.
Center Director John Mayo with James Patten (l) and Greg Anderson (r), co-chairs of the United Auto Workers/Ford         The latest activities of the CBPP
National Joint Committee on Health and Safety.                                                                     will be posted on its Web site:

6     The McDonough School of Business
2002 Workplace Safety Summit Features Leading Policy Makers

               he 2002 Workplace Safety Summit, held April 11–12, drew over

               100 senior-level officials from business, labor, government,

               academia, and advocacy organizations, including the AFL-CIO’s

               Director of Occupational Safety and Health Peg Seminario,

               Assistant Secretary of Labor-OSHA John Henshaw, President

of the National Safety Council Alan McMillan, DuPont Group Vice President

and General Manager Ellen Kullman, and United Farm Workers President

Arturo Rodriguez.

Sponsored by the McDonough School’s new Center for Business and Public

Policy, the Workplace Summit provided a forum for the participants to explore

common ground in their continuing efforts to end the 6 million injuries and

6,000 deaths on the job reported each year in the United States.                  Arturo Rodriguez, president of the United Farm Workers,
                                                                                  spoke at the Center’s launch on February 28.

“The Workplace Safety Summit is the best way for these groups with

different opinions to meet on neutral territory and develop practical solutions

to the nation’s workplace safety problem,” says John W. Mayo, director of the

Center and professor of economics, business and public policy at the
                                                                                  Workplace injuries
McDonough School.

Topics explored at the Summit included: catalysts for achieving worker health     and fatalities
and safety; the impact of safety-conscious management systems; an overview

of worker deaths and injuries; worker hazards; new partnerships; and results      cost American industry
from the first Workplace Safety Summit held last year.
                                                                                  and taxpayers
Sweeney delivered the keynote address, and McMillan, Kullman, Rodriguez

and Henshaw served as panelists in the session “Safety in the Workplace:
                                                                                  at least $170 billion a year
A View from the Top.”

                                                                                  in lost productivity,

                                                                                  wages, and compensation.

                                                                                                              Spring / Summer 2002     7
MSB Students’ Research Finds Bank Credit
Linked to Other Services                                                                         by Elizabeth Shine G’99

                  esearch by three                                    “When lenders make it as explicit as         “The commercial banks are taking a step

R                 McDonough School of
                  Business undergraduate
                  seniors reveals that almost
                  half of corporate finance
professionals say that failure to award
lenders with core investment banking
business makes it more difficult for them
                                                                saying ‘We’ll give you credit if you give us
                                                                this deal,’ that’s called tying, and it’s ille-
                                                                gal,” notes Villar. “But it’s not that explicit.
                                                                Lenders are subtly pressuring clients to
                                                                award them other business, but clients are
                                                                also demanding credit from their banking
                                                                relationships. The extent to which this
                                                                                                                   back and looking at the relationship as a
                                                                                                                   whole,” says Droba. “They may note that
                                                                                                                   short-term credit is not so profitable, and
                                                                                                                   may place a lot of pressure on companies
                                                                                                                   by saying, ‘well, if you don’t provide more
                                                                                                                   lucrative business, this relationship in gen-
                                                                                                                   eral is not beneficial to our bank.”
to obtain competitive credit.                                   occurs has never been quantified before.                  The students found that large compa-
     Working with the Association for                           We tried to get a more solvent hold onto           nies are particularly pressured. In their
Financial Professionals, Lorena Droba                           what exactly is going on.”                         paper, they noted, “Companies with over
(B’02), Kelly Kirby (B’02), and Chris Vil-                            With the repeal of the Glass-Steagall        $1 billion in annual revenue are even more
lar (B’02) surveyed approximately 3,500                         Act in 1999, commercial banks were able to         likely to expect a reduction or withdrawal
corporate financial officers. Of the 427                          start competing with investment banks for          of short-term credit if they did not award
respondents, 48% believed that “if they did                     higher-margin business. The students’              other types of business.”
not award other business to short-term                          research finds that commercial banks are                  Liquidity was a hot topic at the two
lenders, the amount of short-term credit                        strongly leveraging their balance sheets and       investment banks where Villar, Kirby and
provided would be reduced.”                                     their expertise in lending to compete with         Droba worked last summer, as investment
     While it is illegal for lenders to                         traditional investment banks in areas like         banks grappled with commercial banks
directly tie credit provision to the awarding                   cash management, debt/equity underwrit-            going after their traditional business. In
of future fee-based business, the students                      ing and strategic mergers and acquisitions         the fall, the students decided to formally
found significant pressures being placed by                      advisory work.                                     investigate the subject further. They
lenders on corporations to award them                                 Commercial banks make more money             designed a survey for financial executives,
with lucrative business in exchange for                         from such services as underwriting and             and working with finance professor David
low-cost short-term credit.                                     merger advice as opposed to credit lending.        Walker, they contacted the Association for
                                                                                                                   Financial Professionals, who administered
                                                                                                                   the survey to its members. The students
                                                                                                                   then analyzed the responses and inter-
                                                                                                                   preted the data.
                                                                                                                         “It was exciting for us as students to
                                                                                                                   see a survey we had designed going out to
                                                                                                                   the treasurers of Fortune 500 companies,
                                                                                                                   and to have them actually respond to us,”
                                                                                                                   says Kirby.
                                                                                                                         The students’ hard work has paid off,
                                                                                                                   with articles featuring their research in
                                                                                                                   The Wall Street Journal and Business Week.
                                                                                                                   And needless to say, these seniors aren’t
                                                                                                                   worried about jobs. Droba and Villar
                                                                                                                   will head to New York City this summer
                                                                                                                   to work for Morgan Stanley and Goldman
                                                                                                                   Sachs respectively, while Kirby will work
                                                                                                                   for Deutsche Banc Alex. Brown in
(left to right) Chris Villar (B’02), Kelly Kirby (B’02), and Lorena Droba (B’02)                                   Los Angeles.

8     The McDonough School of Business
                              A Brush with History:
The Paintings in Old North
                              by Tom Price

I     , George Washington launched a tradition of presidential visits to

Georgetown University by riding his horse to the Hilltop, walking into what

is now called Old North (it was nearly brand new then) and being received

in the formal parlor. The parlor is long gone, replaced in a  renovation

with a staircase at the building’s north entrance. But Washington is still there

—or at least his image is.

                                                                     Spring / Summer 2002   9
 H              anging beside the stairs,
 just inside that first-floor entrance, is a
 six-and-a-half-foot-tall rendering of
 “Washington Crossing the Delaware.”
 The oil-on-canvas painting was created
 in 1911 by Henry Mosler, a now-obscure
 but then-prominent and prolific American
 artist. It is one of three Mosler history
 paintings that hang in Old North, which
 has become Georgetown’s oldest edifice
 and headquarters for the McDonough
 School of Business. The paintings are
 among 15 museum-quality works of art
 on display throughout the building.
       Visitors, surprised to encounter the
 paintings in the halls, stairways and meeting
 rooms, often inquire about the works,
 according to McDonough Communications
 Director Elizabeth Shine, whose office is
 on Old North’s second floor.
       One reason they are displayed there—
 and other works elsewhere across the cam-
 pus—is that Georgetown lacks a museum,
 notes Lulen Walker, Georgetown’s art col-
 lection coordinator. Enabling students to
 encounter art as they go about their daily
 activities also helps to fulfill the university’s
 educational mission, said Clifford T.
 Chieffo, professor emeritus of art and
 former curator of the collection.
       The Moslers seem particularly appro-
 priate at Georgetown and, specifically, in
 Old North. And their display was taken
 into account when the building was renovated       Washington Crossing the Delaware by Henry Mosler, 1911
 to house the business school, Chieffo said.
       The paintings depict key events in
 the creation of the United States, which           office. Construction of Old North, the                    after their time in office. Gerald Ford
 coincides with the birth of the university         university’s second building, was completed              attended the ceremonies that rededicated
 and the construction of Old North.                 in 1795. (Old South, Georgetown’s first                   the building as home of the business
       The university was established in 1789,      building, was razed in 1904, making way                  school in 1983. Bill Clinton, a George-
 just as the first U.S. Congress, president          for Ryan Hall.)                                          town alumnus, addressed the diplomatic
 and Supreme Court justices were taking                  Washington was the first of 13 presi-                corps at Old North during inauguration
                                                    dents to visit Old North before, during or               week ceremonies in 1993.

10    The McDonough School of Business
W             hen W.H. Walters, chairman
and president of the Diamond National
Corp. in New York, donated the Mosler
paintings to Georgetown in 1962, on the
occasion of his son Bernard’s enrollment,
University President Edward B. Bunn, S.J.,
noted that their subject matter “fits in
beautifully with our tradition.” Bunn
promised to “hang them where the students
can imbibe some of the spirit of early
America which they represent.”
      Mosler’s “Washington Crossing the
Delaware” is not the familiar painting that
shows the general standing in profile on a
boat which his troops are rowing through
ice-filled waters. But it probably is a more
accurate rendering of the 1776 Christmas-
night crossing which enabled Washington
to surprise Britain’s Hessian mercenaries
at Trenton the next day and win a morale-
lifting victory, Walker said.
      The well-known portrayal, which
hangs in New York’s Metropolitan
Museum of Art, was painted in Germany
in 1851 by Emanuel Leutze who “just
concocted it out of his own mind,” Walker
said. Mosler actually visited the crossing
site in winter “so he could get a better
sense of what it really looked like.”
      That attention to detail and historical
accuracy is evident also in the other
Moslers that hang in Old North—John
Paul Jones capturing the British ship
Serapis, and Betsy Ross and her assistants      The Triumphal Victory of the “Bonhomme Richard” by Henry Mosler, 1911

making the first American flag. It’s an
approach Mosler acquired early in his                The paintings illustrated a series of                   The Mentor noted that Mosler
career when he traveled with Union forces       articles about the American Revolution.                 made “careful sketches” of Betsy Ross’s
as an artist and reporter for Harper’s Weekly   The Mentor—whose advisory board                         Philadelphia house before he painted
during the Civil War.                           included the president of Princeton                     “The Birth of the Flag.” He also collected
      All of Old North’s Moslers were           University, the director of the New York                18th century costumes and other props,
painted around 1911 and were reproduced         Zoological Park and professors at Harvard               which he used when posing models for
in the Dec. 3, 1913, issue of The Mentor,       and Rutgers—described the works as “dis-                the paintings, Walker said.
a weekly magazine founded to educate its        tinguished examples of modern historical
readers about “art, literature, science, his-   art” and “paintings of great art value and
tory, nature and travel.”                       historic importance.”

                                                                                                                            Spring / Summer 2002   11
 M                   osler’s “Crossing the
 Delaware” views Washington from the
                                                      “I think it’s a wonderful history paint-
                                                 ing, and it’s original,” Walker said. “I’ve
 front, as he stands in his boat while his       never seen anything like this composition
 troops strain to propel the craft through       and the way the fire is done. It’s very dra-
 floating chunks of ice. The Mentor called        matic.”
 Mosler’s painting “a true and spirited               In contrast, the Betsy Ross painting—
 conception of the event,” while describing      which hangs in the second floor Grand
 Leutze’s as “stiff and constrained and          Reception Room—portrays four women
 lacking a sense of reality.”                    placidly sewing the flag beside an opened
      Mosler’s preparation for the painting      window. The Mentor noted the painting’s
 included drawings in pencil and ink as well     “grace and charm.”
 as a sketch in oil. The oil sketch, according        “It’s too bad that Mosler is not so well
                                                                                                  The Holy Family by Adam Van Noort, 1590
 to a 1996 article in American Art Review,       known today,” Walker said. “I think he was
 “could be considered a finished product by       very talented. He had a huge studio at
 artists other than Mosler.”                     Carnegie Hall. He had a lot of pupils, and
      The John Paul Jones painting—              he sold a lot of paintings.”
 which hangs in the stairwell one flight               Walters had donated a fourth Mosler,             The four Moslers were painted during
 above Washington—depicts the com-               which ended up as a footnote in modern           a revival of patriotism and interest in
 modore boarding the British ship. The           history just as it depicted the history of the   the revolution, Walker said. The Mentor
 scene is lighted dramatically by the fires       revolution. The painting—of the ringing          reported “a demand now from many
 that contributed to Jones’ ship, the Bon-       of the Liberty Bell—was destroyed during         sources—from galleries, federal and state
 homme Richard, sinking two days after           a student protest against the Vietnam war        governments, and from schools—for his-
 the Americans took control of the Serapis.      that turned destructive.                         torical pictures.”
                                                                                                       That helps to make the Moslers
                                                                                                  especially interesting during the current
                                                                                                  resurgence of patriotism in the wake of the
                                                                                                  terrorist attacks of Sept. 11. The Moslers
                                                                                                  of Old North all show the U.S. flag, which
                                                                                                  has become ubiquitous today.
                                                                                                       They aren’t the only significant paint-
                                                                                                  ings in Old North, however, nor the oldest.
                                                                                                       In the second floor hallway, for
                                                                                                  instance, is a painting from around 1590
                                                                                                  that depicts Mary, Joseph, the infant Jesus
                                                                                                  and Mary Magdalene.
                                                                                                       Walker called it “a really fine painting”
                                                                                                  that “would be quite desirable for a
                                                                                                  museum collection.” It has additional
                                                                                                  interest because the artist, Adam Van
                                                                                                  Noort, taught Peter Paul Rubens.

 The Birth of the Flag by Henry Mosler, 1911

12     The McDonough School of Business
R         ubens is represented by a 19th
century copy of his “Four Philosophers,”
which hangs in the Grand Reception
Room. The original, painted in 1611,
hangs in the Palazzo Pitti in Florence.
     Also hanging in the reception room is
one of four known contemporaneous
copies of the “Martyrdom of St.
Lawrence.” The original, which once hung
in the San Francesco della Vigna church in
Venice, has been lost. It and the copies are
attributed to unknown 16th century artists
of the Santa Croce workshops in Venice.
They depict the saint being burned on a
     Among the other works displayed in
Old North is a signed Pablo Picasso litho-
graph poster for the Galerie Alex Maguy
in Paris in 1962.
                                                  Contemporaneous copy of The Martyrdom of St. Lawrence, artist unknown, 16th century
     Security, as well as esthetics, helped to
determine how the works were hung dur-
ing the 1983 renovation.

                                                       “When we did the renovation we had                       Some paintings, including the Moslers,
                                                  the opportunity to put in alarm systems, to             are attached to a protective backing “so you
                                                  get the paintings bolted literally into the             can’t inadvertently punch a hole in it or cut
                                                  walls and to design spaces to accommodate               through it on purpose,” he said.
                                                  pieces,” Chieffo said. “We designed that                      “Part of the dilemma in a public space,”
                                                  stairwell to fit those (Mosler) paintings.               Chieffo said, is “how you protect the
                                                  The large (Grand Reception) Room                        works. We went through a lot of trouble
                                                  provided an opportunity to hang some                    to do that.
                                                  of our larger pieces that were in storage,                    “I think the purpose of our acquiring
                                                  like Betsy Ross.”                                       art is that it will be utilized for education.
                                                                                                          Otherwise, it lives in storage, which is not
                                                                                                          our desire.”

Copy of Rubens’ Four Philosophers, 19th century

                                                                                                                                  Spring / Summer 2002   13
 Global Integrative Gains Increased Relevancy
 Post-September 11                                                by Tom Price

           he terrorist attacks of September 11           In the months leading up to the resi-     class is particularly sensitive to the impact

 T         —and the accompanying disrup-
           tion of commerce and travel—
 complicated but did not halt McDonough’s
                                                     dency, the McDonough School had regu-
                                                     lar contact with U.S. embassies in the
                                                     countries where the students would travel
                                                                                                    the American economy and American
                                                                                                    values have on global affairs.”
                                                                                                          The residency, which is required
 2002 international residency program.               and with those countries’ embassies in the     of all M.B.A. candidates, is central to
      Two international students couldn’t            United States. School officials kept in         McDonough’s internationally-focused cur-
 leave the United States during the one-             touch with the faculty members, business       riculum. Students form teams of five or six
 week residency, because of changes in               executives and Georgetown alums in those       in late November, and each team consults
 passport and visa administration, and had           countries that were helping with the pro-      with a company on an international busi-
 to participate in substitute activities. Two        gram. They had weekly communication            ness challenge. The team completes its
 American students were allowed to do                with the U.S. State Department and they        research overseas and presents its findings
 alternative projects because of their fear of       consulted Georgetown’s own experts in          to company executives on site.
 traveling after the attacks. And the school         risk management and international affairs,           “This is part of what makes our pro-
 called off planned projects in India because        as well as the university’s legal counsel.     gram distinctive,” said Marilyn Morgan,
 of terrorist incidents there and the threat         The faculty leading programs abroad were       associate dean and M.B.A. program direc-
 of war between India and Pakistan.                  required to lay out clear plans for what the   tor. “And in light of September 11, the
      More than 230 second-year M.B.A.               students should do if something were to        global experience is even more relevant.
 candidates did complete more than 40                go wrong.                                      Our M.B.A.s successfully complete a
 consulting projects in Argentina, Brazil,                “September 11 changed the global          hands-on international consulting project
 Italy, the Czech Republic and Vietnam               experience to a degree, in the sense that      where they learn to meld American busi-
 March 9–16—reassured by the faculty’s               Georgetown M.B.A.s are now more aware          ness solutions to the particular economic
 attention to security.                              of how Americans are perceived interna-        and cultural values of another country.”
                                                     tionally,” noted Sam Chawla (MBA’02),                Because the global integrative is the
                                                     M.B.A. student government leader. “Our         capstone of the Georgetown M.B.A. expe-
                                                                                                    rience, Morgan noted that students in the
                                                                                                    future will not be excused from the resi-

 McDonough M.B.A.s on integratives in Argentina...                         ...Italy…

14    The McDonough School of Business
dency in the absence of extreme extenuat-           The team made a presentation to the             All students do research and meet in
ing circumstances. International students     full conference in the morning. In the          teams on campus, said Sam Robfogel
will be required to have their documents in   afternoon, each team member conducted a         (MBA’02), whose team consulted with
order for travel outside the United States.   small-group seminar on such topics as           Eurotel wireless in Prague. “But this was
     Some of this year’s more interesting     understanding the U.S. business culture         different,” Robfogel said.
residency projects were in Vietnam, a for-    and how to use the Internet effectively.              “We were there at the company—
mer U.S. enemy and a communist country        Student Cathy Kaboski (MBA’02), who             with their chief operating officer and peo-
that wants to profit from doing business       led the workshop on business culture, said      ple from marketing, distribution, legal and
with the West. Nine teams, with a total of    she warned the Vietnamese that Ameri-           all of that—and they had real problems
52 students, consulted for small Viet-        cans place much more emphasis on speed          and were looking to us for real answers.”
namese firms, state-run enterprises and        and straight talk.                                    Ryan Orner, whose team worked with
U.S.-based giants such as Cargill, Pepsi            “Things in Vietnam tend to take           Italian winery Marchesi del Frescobaldi,
and Citibank.                                 much longer,” she said. “As in many Asian       said the project gave him “an appreciation
     One team conducted a Citibank-           cultures, many times things aren’t stated       for and understanding of the opportunities
organized conference for seafood exporters    but are understood. In the United States,       and challenges inherent in conducting
that want to increase their sales in the      communication tends to be very direct.”         international business.”
United States under the bilateral trade             Another difference is that women                Orner said he enjoyed doing research
agreement that took effect in December.       seem to play a larger role in business in the   before the trip—“talking to everyone from
About 50 managers plus 15 members of          United States than in Vietnam, Kaboski          the local wine retailers to the trade associa-
the press attended the day-long confer-       said. So another topic she addressed was        tions that represent importers and distrib-
ence, which generated news coverage for       “how to work with a woman boss.”                utors and the like.”
Georgetown by nine Vietnamese publica-              Students value the residency for the            But “the highlight,” he said, was
tions and two broadcast media, and which      fact that they work with companies on real      “visiting the leadership of the company in
enabled Citibank to acquire at least two      business issues as well as for the interna-     Florence and visiting their estates. We got
new clients.                                  tional exposure.                                tremendous access and insight to a very
                                                                                              well-known and respected winery.”

                                                                                              ...and Vietnam.

...the Czech Republic…

                                                                                                                    Spring / Summer 2002   15

 Enron Case Advances Study of Ethics
                    entioning that I teach              Make no mistake; we’re not the least        of 1987, the savings and loan crisis, and

 M                  business ethics or corporate
                    social responsibility is a
                    surefire invitation for
 ridicule: “Aren’t those oxymorons?”
 Implicit in these derisive barbs is the sup-
                                                   bit gratified by this attention—better that
                                                   we could continue toiling in obscurity and
                                                   the innocent bystanders of Enron and
                                                   Andersen could continue to work at their
                                                   jobs and to profit from their investments.
                                                                                                    similarly dangerous episodes of recent
                                                                                                    business history. And it’s not as though the
                                                                                                    country has been in a slow news cycle since
                                                                                                    last fall..
                                                                                                          Consider the exceptional reaction
 posed simple truth about business—it’s            But they can’t. And for some observers,          that Enron’s failure provoked in the halls
 bereft of morality, socially irresponsible,       their tragic losses confirm the immorality        of Congress. Within weeks of its the
 and not likely to change.                         of American corporate life and the futility      bankruptcy filing, committee members
       These cynical expressions bring to          of the business ethics enterprise. Paradoxi-     from both houses of Congress lectured and
 my mind Mark Twain’s famous aphorism              cally, as our views became newsworthy, our       berated Enron and Andersen executives.
 about simple truths, “They’re neither simple      discipline aroused increased skepticism.         Not since the Pecora hearings of 1933
 nor true.” Being from Missouri, I agree                So, an explanation is in order; one that    have we witnessed such a spectacle. Those
 with Mark Twain, especially in the case           places these events in a sensible perspective,   hearings gave rise to legislation that,
 of the one about business.                        and one that describes the realistic goals for   among other things, created the Securities
       So it’s fortunate that I teach where I      ethical training of business students.           and Exchange Commission and the capital
 do. The McDonough School of Business                   But first, a caveat. I entered this field     market regulation in place today.
 seeks to develop principled business leaders.     after a business career—nine years as a                And consider the stunning market
 The seriousness of this commitment is             CPA, another nine as the chief financial          reaction to Enron’s collapse. Almost
 expressed by required courses in business         officer of Edward Jones, and a brief              impulsively, before Andersen’s survival was
 ethics and by the business ethicists resident     sojourn as the CFO of Trans World Air-           in serious jeopardy, corporate boards—not
 within the School.                                lines. This is a weird background for a          famous for their reaction times—severed
       As one of those ethicists, I admire this    moral philosopher. I share it to put my          their long-standing relationships with the
 stance. But lest I create an exaggerated          observations in the proper context.              auditor. Investors now receive disclosures
 impression, I’m still a moral philosopher in           So, post-Enron, can we combine the          they were denied in the past. The account-
 a business school. Let’s just say that I can      concepts of business and ethics without          ing industry is voluntarily restructuring
 relate to what it must be like to play foot-      sarcasm? I think so. For the moment,             along lines they resisted for the past
 ball for schools like Kentucky or Indiana         bracket the hideous revelations flowing out       decade. And the capital markets ravage any
 —essential and legitimate, but obscure in         of Enron and consider instead the public         companies that share the slightest similar-
 comparison to something else.                     reaction to them. We’re witnessing what is       ity with Enron. Some of this is a tempo-
       Then came Enron, and news of docu-          by any standard an extraordinary response;       rary overreaction—markets do that. But
 ment destruction at Arthur Andersen.              one that is usually reserved for serious         there’s no mistaking that post-Enron,
 Suddenly the media sought the views of            political scandals or matters of life and        some substantive business practices will
 business ethicists. I’ll go out on a specula-     death. Only a handful of episodes in             have changed.
 tive limb and say that a recent interview I       American business history have kindled                 It isn’t plausible that Enron’s size or
 did with MSNBC was the first time a                and sustained this much interest or this         prominence alone accounts for the enor-
 financial news network had occasion to             much change.                                     mity of this reaction. The story begins as a
 broadcast from an office in the Philosophy              Consider that Enron has attracted           big company going broke. But the inten-
 Department of Georgetown University.              Monica-like media attention; considerably        sity and duration of the coverage and the
                                                   more than any other business failures of         political and market responses are kindled
                                                   recent memory—the stock market crash             by something else. This reaction, I think, is

16     The McDonough School of Business
best understood in terms of moral indigna-             I can’t speak for every business ethicist     they’re in the middle of the fray. Moral con-
tion to the audaciously selfish and reckless      but I try to accomplish two things in my            ditioning involves practice, in a setting
abuse of corporate authority. What’s under       business ethics courses. The first is best           where the only danger is a lousy grade.
our skin, mine anyway, are the people that       described as ethical conditioning, by which                My second goal is to convey a sense of
created the illusion of a successful, well-      I mean the self-restraint to behave decently        the moral possibilities of business. Genuine
capitalized, and profitable company out of        when there’s something at stake. Like most          moral dilemmas in business are extremely
an over-leveraged mess of a money-losing         normal adults, my students have well-devel-         rare. They seem to lurk everywhere because
business. Our collective outrage is not over     oped intuitions about right and wrong when          morally satisfactory and and financially
Enron’s failure so much as it is over its suc-   it comes to human behavior that affects oth-        feasible solutions are thought to be mutu-
cess. More precisely, we’re not angry that       ers. But while necessary, intuitions are not up     ally exclusive. I believe the two can be
Enron failed, but that it succeeded on the       to the task of navigating the moral landscape       harmonized because I saw it done.
basis of a colossal lie.                         of business. Other things get in the way.                  My job as a teacher is to provoke cre-
      This reaction is important because               Ethical conditioning involves under-          ative thinking so students, soon to be man-
it indicates what the American public            standing and contending with these obsta-           agers, will be inclined to look for them.
expects in the way of corporate integrity.       cles. Management takes place against a              Like any teacher, I hope my students have
But contrary to the business-ethics-as-          background of conflicting loyalties, ambigu-         rewarding careers. But I hope as well that
oxymoron refrain, such expectations only         ous obligations, chronic uncertainties, and         they lead decent lives. Understanding that
make sense in an environment where they          overwhelming temptations. One’s moral               one need not get in the way of the other,
are routinely fulfilled. There are large parts    duty isn’t always obvious and acting on it          that combining the two is a lively possibil-
of the world where the public does not           isn’t always easy.                                  ity, is the starting point.
expect corporate integrity. Recently, but              This situation can’t be changed, but                 I don’t suggest any of this is easy
pre-Enron, I worked with a group of busi-        students can be prepared for it. I try to give      because it’s not; it’s called work for a reason.
ness and government leaders touring the          my students an experience of making a
U.S. in an effort to improve the moral cli-      morally charged business decision under                                       Assistant Professor
mate of commercial life in their home            realistic conditions. They analyze complex                                    Edward Soule was a
countries. They were baffled by our visceral      cases, make decisions, and defend them                                        general partner and
reaction to lapses in corporate integrity.       under combative conditions. I structure                                       chief financial officer
We should be reassured.                          these cases so that they’ll be exposed to the                                 for Edward Jones.
      Reassured, but not complacent. The         telltale signs of danger, including the cate-                                 Prior to that he
public reaction to Enron’s failure illustrates   gories of misjudgments that derail careers                                    practiced public
the stakes of a moral failure in business.       and companies.                                                                accounting with
Obviously other things failed as well,                 I’m a guide in this process, and while        a predecessor firm to KPMG. His book,
including every safeguard; from the audi-        I have a target in mind, it’s not one I can         Morality and the Market: The Ethics
tors to the rating agencies. But there’s no      hold up. Ultimately, students have to dis-          of Commercial Regulation, is scheduled
substitute for personal integrity and safe-      cover and choose for themselves the values          for publication later this year.
guards will always be imperfect. The first        they’re willing to live by. Perhaps as impor-
and final lines of defense—the moral              tantly, they must figure out the values
responsibility of imperatives of managers        they’re unwilling to violate. It’s ironic that in
— is the focus of my discipline. The piece       a class of students obsessed over finding the
of it I’m interested to explain here is the      job of their dreams, I want them to decide
role of ethics in business education.            what they’re willing to quit over, before

                                                                                                                            Spring / Summer 2002       17

                             Professor Reena                            Professor Robin                             Professor Robert
                             Aggarwal was a                             Dillon and Elisa-                           Grant published
                           panelist on the                                beth Pate-Cornell                            “Knowledge Man-
                           International Cor-                             (Stanford Univer-                            agement and the
                           porate Governance                              sity) won the 2001                           Knowledge-Based
                           panel at the meet-                             Transactions best                            Economy” in the
                           ing of the Eastern                             paper award for                              General Management
                           Finance Associa-                               co-authoring                                 Review January-
 tion in April 2002. She presented “The         “Success Factors and Future Challenges in      March 2002, vol. 3. He also published
 Future of Research on Corporate Gover-         the Management of Faster-Better-               “New Directions in Strategic Manage-
 nance in Emerging Markets: Role of Insti-      Cheaper Projects: Lessons Learned from         ment” in the Business Strategy Review
 tutional Investors,” at the Research Net-      NASA,” published in IEEE Transactions          Spring 2001, vol. 12, pp.61-67. His chap-
 work Meeting of the Global Corporate           on Engineering Management Feb. 2001,           ter “Corporate Strategy: Managing Scope
 Governance Forum at the World Bank on          vol. 48, no. 1, pp.25-35. They have also       and Strategy Content” appeared in the
 April 5, 2002. On May 1, 2002 she pre-         been awarded a $30,000 National Science        Handbook of Strategy and Management
 sented “Institutional Investment in Devel-     Foundation grant through Stanford Uni-         2002. His textbook, Contemporary Strategy
 oping Countries—Corporate Gover-               versity to study programmatic risk for crit-   Analysis, is currently in its 4th edition,
 nance” at the U.S. Securities and Exchange     ical engineering systems under tight           Blackwell Publishers, 2002. His article,
 Commission International Institute.            resource constraints.                          “The Knowledge-Based View of the
                                                                                               Firm,” was published in The Strategic
                              Professor Alan                            Professor Allan
                                                                                               Management of Intellectual Capital and
                              Andreasen is a                           Eberhart’s article,
                                                                                               Organizational Knowledge, ed. Nick Bontis
                            member of the                              “Comparable
                                                                                               and Chun Wei Choo, Oxford University
                            Greencom Tech-                             Firms and the
                                                                                               Press, 2002. He and Professor Paul
                            nical Advisory                             Precision of
                                                                                                                       Almeida co-authored
                            Group, Green-                              Equity Valua-
                                                                                                                       “Are Firms Superior
                            Com, a $30 mil-                            tions,” appeared in
                                                                                                                       to Alliances and
                            lion USAID pro-                            the Journal of
                                                                                                                       Markets? An Empir-
 ject focusing on environmental education       Banking and Finance 2001, vol. 25,
                                                                                                                       ical Test of Cross-
 and communication. In March 2002, he           pp.1367-1400. He and Professor Akhtar
                                                                                                                       Border Knowledge
 received a $2,500 grant from the National      Siddique also co-authored “The Long-
                                                                                                                       Building” with J.
 Institutes of Mental Health to prepare a       Term Performance of Corporate Bonds
                                                                                                                       Song in Organiza-
 paper on the use of social marketing to        (and Stocks) Following Seasoned Equity
                                                                                               tional Science, 2002, vol. 13, pp. 147-161
 address best practices in child mental         Offerings,” forthcoming in the Review of
                                                                                               and “Knowledge Acquisition through
 health. He published “Marketing Social         Financial Studies.
                                                                                               Alliances: Opportunities and Challenges”
 Marketing in the Social Change Market-
                                                                                               with Anupama Phene for The Blackwell
 place,” in the Journal of Public Policy and
                                                                                               Handbook of Cross-Cultural Management,
 Marketing in March 2002, and “Commer-
                                                                                               ed. Martin Gannon and Karen Newman,
 cial Marketing and Social Change,” in the
                                                                                               Oxford University Press, 2002, pp. 67-77.
 Spring 2002 Social Marketing Quarterly.

18     The McDonough School of Business
                       Professor Jeffrey                             Professor Douglas                               Professor Keith
                       Macher co-                                    McCabe published                                Ord co-authored
                        authored “Organi-                              “Administering the                              “Forecasting for
                        zational Learning                              Employment                                      Inventory Control
                        in Economics”                                  Relationship: The                               with Exponential
                        with Christopher                               Ethics of Conflict                               Smoothing” with
                        Boerner and                                    Resolution in                                   Ralph Snyder
                        David Teece (both                              Relation to Justice                             (Monash Univer-
at Berkeley) in the Handbook of Organiza-    in the Workplace” in the March 2002 issue       sity, Australia) and Anne Koehler (Miami
tional Learning, ed. M. Dierkes, A           of the Journal of Business Ethics. He also      University, Ohio), published in the March
Berthoin-Antal, J. Chile, and I. Nonaka,     presented a refereed paper titled “The Pro-     2002 issue of the International Journal of
Oxford University Press, 2001. He also co-   fessional Nonunion Employment Rela-             Forecasting vol. 18, no. 1, pp.5-18.
authored “eBusiness and the Semiconduc-      tionship: Workplace Justice and Organiza-
                                                                                                                     Professor Betsy
tor Industry Value Chain” in the forth-      tional Due Process in Domestic and
                                                                                                                     Sigman received a
coming Industry and Innovation with          Multinational Firms” at the 2002 Interna-
                                                                                                                       $2,500 grant from
David Mowery and Tim Somcoe (both at         tional Business Conference of the Society
                                                                                                                       the Center for
UC Berkeley). He presented “Transaction      for Advancement of Management, held in
                                                                                                                       New Designs in
Cost Economics: An Assessment of             McLean, Virginia on April 7, 2002. Addi-
                                                                                                                       Learning and
Empirical Research in the Social Sci-        tionally, he was named a principal coordi-
ences,” co-written with Christopher          nator for the First Annual Conference on
                                                                                                                       Georgetown Uni-
Boerner, at the American Economics           Business Ethics and Transitional
                                                                                             versity, to create “Digital Discernment,” an
Association meeting in Atlanta, January      Economies, March 20-21, 2002, at the
                                                                                             online tool designed to help students learn
2002. He co-authored “Mitigating the         Czech Management Center, Prague,
                                                                                             to evaluate e-commerce websites.
Tradeoff Between Time-to-Market and          Czech Republic.
Manufacturing Performance” with Nile
                                                                      Professor Marcia
Hatch (Brigham Young University), pre-
                                                                      Miceli co-authored
sented at the University of Utah-BYU
                                                                     “Ethical Issues in
Winter Strategy Conference in March
                                                                     the Management
2002. He also co-authored “Technology,
                                                                     of Human
Competition, and Politics: Plant Location
                                                                     Resources” with
Decisions in the Global Semiconductor
                                                                     Janet Near (Indi-
Industry, 1995–2000” with Witold Henisz
                                                                     ana University) in
(Wharton), which was a finalist for the                                                       Professors Teri Yohn and Patricia Fairfield
                                             the Human Resource Management Review
Haynes Prize for Best Paper at the                                                           co-authored “Using Asset Turnover and
                                             2001, vol. 11, pp.1-9. They also co-
Academy of Business Annual Meeting in                                                        Profit Margin to Forecast Changes in
                                             authored “What Makes Whistle-blowers
Puerto Rico, June 2002.                                                                      Profitability,” published in the Review of
                                             Effective? Three Field Studies,” forthcom-
                                                                                             Accounting Studies, December 2001,
                                             ing in Human Relations.

                                                                                                                  Spring / Summer 2002   19
 In the Media

 “It’s no secret that Nasdaq has had global                                                      “It’s great advice. To say anything other
 ambitions. They’ve tried several different                                                      than what Jim Schneider said is irresponsi-
 ways to get into Europe, but they’ve run         “It’s a big ticket purchase, so you do a lot   ble. Ken Lay’s advice to calm the employ-
 into a problem in that it’s a long uphill bat-   of comparison shopping,” explained Lisa        ees seems like he was oblivious to basic
 tle against entrenched incumbents,” said         Kaminski, director of the I.E.M.B.A. pro-      investment principles,” said Professor Ed
 Professor James Angel in the Wall Street         gram, about applying to executive M.B.A.       Soule about the Enron stock collapse in
 Journal’s “Nasdaq, London Stock Markets          programs in the Washington Business            the Houston Chronicle article “Diversify
 Revive Talks of Possible Merger” (Silvia         Forward feature article, “The Executive        401(k)s, Dell CFO Urges,” April 6.
 Ascarelli and Kate Kelly), April 25.             M.B.A.” (Stephanie Berry Stark), April 24.

                                                                                                 The Georgetown University Credit
 “People who bought the IPO were used to                                                         Research Center’s study on the impact of
 getting information from Piper, now they                                                        one-on-one counseling sessions at credit
 don’t have information about the stock. It’s                                                    agencies was cited in the Houston Chronicle
 obvious there’s a problem when coverage is                                                      article “Credit Score Sneaks into More
 dropped,” said Professor William Droms                                                          Facets of Financial Life,” (Shannon
                                                  “According to surveys by Georgetown
 regarding U.S. Bancorp Piper Jaffray’s sud-                                                     Buggs) March 25.
                                                  M.B.A.s and Citibank, establishing long-
 den decision to drop coverage of biotech         term trade ties between sellers and buyers
 firm Antigenics’ stock price in The Wall          is the main challenge facing Vietnamese        In the Houston Chronicle’s “Many Hedging
 Street Journal article “Analyze This: Stock      enterprises in general and seafood             Bets on Worthless Stock” (Bill Murphy)
 Research Comes Under Fire in CEO’s               exporters in particular,” the Associated       January 26, Professor Reena Aggarwal said
 Battle” (Randall Smith and Geeta Anand)          Press noted in “Citibank Delves into Viet-     some shareholders are buying Enron stock
 April 16.                                        nam-U.S. Seafood Trade,” April 11.             with the belief it could offer them added
                                                                                                 leverage in bankruptcy proceedings.

20    The McDonough School of Business
                                                                                              “The terror of September 11 is a key fis-
                                               “For some professors, Enron has provided       sure in American lives. At Georgetown’s
“It would have been another thing if he        a platform to proselytize about their          McDonough School of Business, we
did this often when he was CEO, if it were     favorite business practices. Darryl Allen, a   investigated the repercussions of the terror
a pattern somehow,” noted Professor            visiting instructor of accounting at           on international marketing policy and cor-
Robert Bies in the March 28 Business Week      Georgetown University, has used Enron in       porate practices,” wrote Professor Michael
article “Where’s the Heat on Neutron           his undergraduate courses as a vivid exam-     Czinkota in an editorial “Effects of Sept.
Jack?” (Brian Hindo), about how former         ple of the importance of cash flow,” noted      11 on Marketing Policy” for The Japan
General Electric CEO Jack Welch’s legacy       The Washington Post in “Crash Course on        Times, January 15.
will not be tarnished by his recent personal   Enron” (Amy Argetsinger) February 23,
indiscretions. “What it has done is take the   about how discussion of the firm’s collapse
saint-like image and make it look like he      is appearing in business school classrooms
fell from grace.”                              across the country.

                                                                                              Professor Reena Aggarwal was inter-
                                                                                              viewed on CNBC’s Squawkbox by Marci
                                                                                              Rossell, CNBC’s chief economist on
                                                                                              December 5, 2001, regarding the Enron
“The magnitude of the total impact on          “Many prestigious schools, however, do         bankruptcy.
regulated and unregulated industries is        not run doctoral programs; these include
unclear because it’s so new,” said John        the Tuck School at Dartmouth College,
Mayo, director of the Center for Business      U.S., IMD in Switzerland, and the
and Public Policy, about the rise in busi-     McDonough School at Georgetown
ness costs for industries subjected to fed-    University, Washington, D.C.,” the Finan-
eral efforts to prevent terrorism through      cial Times noted in “Tough Times Force
increased security in the Washington Times’    Rethink by Students—Doctoral Education”
article “Terrorism Takes Toll on Bottom        (Lisa Wood), January 21.
Line” (Tom Ramstack) March 1.

                                                                                                                   Spring / Summer 2002   21
                                  Alumni Notes

                                  UNDERGRADUATE                       1996                                 MBA
                                                                      Jeff Settembrino and
                                                                      Stephanie Samandar cele-
                                  1974                                brated their wedding on Febru-       1987
                                  Michael Conn left Morgan            ary 24, 2001 in Miami, Fla. The      Harvey Chimoff has launched a
                                  Stanley to join Bank of America.    wedding ceremony was held at         new marketing newsletter,
                                  He is the president of the west-    St. Hugh’s Catholic Church and       V1TM Insights, in conjunction
                                  ern region private bank and         the reception at Vizcaya Gar-        with the redesign of his consult-
                                  assumes responsibilities for 34     dens. Their family and friends       ing company’s website,
                                  offices on the west coast. He is     traveled from the Netherlands Chimoff is
                                  now living in San Franciscio.       Antilles, various U.S. cities, and   founder and president of Veloc-
                                                                      Europe to join them on their         ity 1 Consulting, Inc., a market-
                                  Dan Keiner has been named           special day. Other Hoyas who         ing management consulting
                                  vice president and chief financial   attended the wedding were:           company that specializes in
                                  officer of Banta Corporation in      Nicholas Van Loan (B’96),            pragmatic marketing solutions
                                  Wisconsin. He recently com-         William Coleman (B’96),              to increase sales. The firm has a
                                  pleted a 25-year career with        Glenn Cho (B’96), Eduardo            wide range of experience gener-
                                  PPG Industries in Pittsburgh,       Nunez (B’96), Despina                ating solutions for major brands
                                  most recently serving as trea-      Paraskevopolous (B’96),              and companies.
                                  surer. He and his wife, May Lou     Sarah Walters (CAS ‘96), and
                                  Minogue (N’74), will move to        Gwendolyn Herrate (SFS ‘96).
                                  Wisconsin at the end of this        Stephanie and Jeff are currently     1993
                                  summer. Their daughter Emily        living in Miami.                     Class Agent: Jordan O’Neill
                                  graduates from Duquesne Uni-                                   
                                  versity this year and their son,
                                  Thomas, is a sophomore at the       2000                                 Christine (Evans) Richard
                                  University of Richmond.             Elizabeth Benoit was married         is working for Dow Jones News-
                                                                      last fall to Scott Haladay (C’98).   wires in New York as a debt
                                                                      The wedding and reception were       market reporter. Since graduation,
                                  1983                                held in her hometown of Cape         she has worked as a financial
                                  George Becker III was recently      Elizabeth, Maine, and a second       markets reporter in Washington,
                                  named vice president of Univest     reception was held in Portland,      D.C., Hong Kong, Singapore
                                  Insurance, Inc., following the      Ore., where her husband’s family     and New York. She married
                                  merger of his family firm,           resides. Elizabeth’s sister, Fran    Dean Richard in July 1995 and
                                  George Becker Associates, with      Benoit (B’01), and several other     they have a daughter, Sophie (4).
                                  the Univest Corporation of          Georgetown alumni were               Genevieve (Needham) Robert
                                  Pennsylvania.                       members of the wedding party.
We encourage all business                                                                                  and husband, Chris, are the proud
                                                                      The couple honeymooned in            parents of Madeline Grace, born
school alumni—undergraduate,
                                                                      Tahiti and Hawaii. They now          March 2, 2001. They enjoy living
MBA, and executive MBA—                                               live in Portland.                    in Richmond, Va. In November,
to send us class notes. Please                                                                             Genevieve started a new company,
contact Elizabeth Shine at                                                                                 the Titan Group, LLC, with two
                                                                                                           of her former human resources
202.687.4080 or e-mail her at
                                                                                                           colleagues from Capital One.,                                                                                    Titan provides human resources
if you would like to become                                                                                consulting, interim human
                                                                                                           resources management, and
a class agent. We do not accept
                                                                                                           executive recruiting services. The
engagement or pre-birth                                                                                    website is

                                                                                                                    Spring / Summer 2002   23
                                                                             Alumni Notes
 Alum Finds Success Tuning Into Her Passion

 By Susan Price

 For someone who’s passionate about                                                                              named an Academic Economic
                                                                             1994                                Fellow by the U.S. Securities and
 music, serving as chief operating officer for
                                                                             Class Agent: David Gee              Exchange Commission. The
 Viacom’s VH1 music television and Country                                          position is a one-year appoint-
 Music Television has been a dream job for                                   Adrienne Cox is the proud           ment in the Office of Economic
 Ann Misiaszek Sarnoff (B’83). Her young                                     mother of Carson Rebecca            Analysis.
 daughter wasn’t happy with Sarnoff’s 1999
                                                                             Praver (9 months) and Cole (3).     Alona Ponomareva visited
                                                                             They live in Arlington, just min-   Tokyo, Japan for the first time in
 career move, however. It meant Sarnoff                                      utes from Georgetown.               mid-February and looked up
 would cease being vice president of con-                                                                        Ryuta Sato, whose current e-
                                                                             Ron Drozd and his wife,
 sumer products and business development for Nickelodeon. No more            Denise, are proud parents of        mail is: He
 bragging that “my mommy makes the toys at Nickelodeon.” Sarnoff             their second child, Jacqueline      showed Alona around Tokyo on
                                                                             Rose, born January 4, 2002, and     her one free day and they had a
 consoled her child by pointing out that VH1 airs videos of Britney                                              great time, ate a lot of sushi,
                                                                             weighing 8 pounds, 8 ounces.
 Spears and other groups popular with adolescents.                           She was welcomed home by big        went to see an old Buddhist
                                                                             sister, Katie (2). The family is    temple in the Asakusa district of
 After earning a Harvard M.B.A. in 1987, Sarnoff worked for a strategic      still getting settled into their    Tokyo, and took a boat back to
 consulting firm, advising Fortune 500 companies. After a course at           new home in Richboro, Pa.           where she was staying (the area
                                                                                                                 near the Imperial Palace). She
 Manhattan’s New School, she decided to apply at Viacom.                     David John Egan is the proud        said it was really nice to see him,
                                                                             father of David John Egan IV,       after all these years! Ryuta is a
 “I went in as a corporate strategist,” she says, “but thought I could go    born February 15, 2002.             great expert on French wine and
 from there to MTV.” Instead, she was asked to develop business for          David Gee joined Yahoo! in          recently received a diploma to
 Nickelodeon, then headed by Geraldine Laybourne. “I liked that it was       December 2001 as vice presi-        confirm that (after completing a
                                                                             dent, portal solutions, where he    course of study on the subject).
 run by a woman,” Sarnoff says, a change from the male-oriented con-                                             Alona is working at the World
                                                                             packages Yahoo! portal and con-
 sulting firm. “And I’m a better mom” she adds, because she observed          tent technologies and delivers      Bank, investing the Bank’s $12
 many focus groups with children whose candid feedback helped shaped         them to enterprises world wide.     billion pension fund.
                                                                             He encourages anyone in the         Matt Tucker loves all venture
 the channel’s content. “It made me so much more in tune with the way
                                                                             Bay Area to stop by and have        capitalists... you can ask him why
 kids think.” Her second child, born right after she took the job, cut his   lunch with him at the Yahoo!        at
 teeth on Nick’s innovative pre-school programming.                          campus in Sunnyvale, Calif., and
                                                                             he will give visitors a “Do You
 Sarnoff’s marketing coursework at Georgetown served her well as she         Yahoo!” license plate holder.       1995
                                                                                                                 Class Agents: Scott Shore and
 developed Nickelodeon’s off-air business: licensing and merchandising,      Dave Goldberg was promoted
                                                                                                                 Amy Van Dyke
 home video and audio, publishing and live performances of favorite
                                                                             to vice president, strategy and
                                                                             business development, for
 channel characters. And she developed the business plans for two Nick-                                
                                                                             Choice Hotels International. He
 elodeon spin-off channels, TV Land and Noggin.                              and his wife, Marni, recently       Class agents Scott Shore and
                                                                             bought a house in Gaithersburg,     Alison Van Dyke would like you
 The offer to help lead VH1 meant the avid music fan could direct            Md., where they are moving this     to e-mail them your preferred e-
 programming “that is targeted to me.” The target audience,
                                                                             summer with their children,         mail address so that they can col-
                                                                             Sam (4) and Zoey (2). Dave can      lect class notes and keep you in
 18- to 49-year-olds, makes it “for people who have outgrown MTV,”           be reached at                       touch with your classmates.
 she explains. “Even if music isn’t a big part of your life today, the
                                                                                                                 Fadi Aabidi is currently residing
 programs make you feel good about music that meant so much to               Mike Piwowar, his wife Eileen,      in Saudi Arabia and working in
 you when it first came out.”                                                 and son Sean will be returning      the corporate finance depart-
                                                                             to the Washington, D.C. area        ment at the Saudi French bank
                                                                             this summer. Mike was just          in Riyadh. Most of his work

24     The McDonough School of Business

involves financial modeling and       2001. They are check-point          ketchups, pickles, mayonnaise,       weekends in the mountains ski-
valuing companies for the pur-       firewall consultants and             and sunflower oil. The company        ing in the winter and fishing in
poses of conducting mergers          resellers. They also travel         exports its products to the U.S.     the summer. Give them a call at
and acquisitions.                    throughout Central America to       and distributes them primarily       home (303) 424-4124 or at
                                     consult on digital certificates      in New York and Chicago.             work (303) 272-2396.
David Alexander is still work-
                                     and other security solutions for
ing with publishing company                                              Faysal Hamza and his wife,           Andy and Andi Libuser moved
                                     large clients.
Prentice Hall, and lives on the                                          Roula, were married on March         to London last May, where
Eastern shore in Maryland.           Bill Fessler and his wife           2, 2002, in Lebanon.                 Andy works for Spring, a global
                                     Amanda celebrated their eighth                                           provider of human capital man-
Dionne Anthon is now living                                              Anthony Hovsepian and his
                                     wedding anniversary on January                                           agement services, in their Inter-
in the Philadelphia area. She is                                         wife Stephanie welcomed their
                                     15, 2002. Bill and Amanda were                                           net sales division. Andi remains
not applying her MBA skills to                                           son, Jacob “Jake” Allen, into the
                                     married in Dahlgren Chapel in                                            at home with their daughters,
putting together highly techni-                                          world on March 24, 2002. He
                                     1994. They have two children,                                            Kyra (3½) and Emma, born in
cal NCAA office pool spread-                                              was 7 pounds, 4 ounces of pure
                                     Ellie (3½) and Alex (1½), and                                            July 2001. They hope to have
sheets, as that would be illegal.                                        muscle, just like his dad, and
                                     are living in Phoenix, Ariz.                                             fun traveling in Europe.
                                                                         every bit as good looking.
Karen Chmar married Steven           (where Bill attended game 7 of
                                                                                                              Nichandro Ortiz is a man of
London, a commercial real            the World Series). Bill is run-     Steve Jordan is vice president
                                                                                                              two countries. He is working for
estate broker, on June 2, 2001, at   ning a successful publishing        and executive director of the
                                                                                                              the World Bank and other
the Galleria at Lafayette Center     company, Primer Publishers,         U.S. Chamber of Commerce
                                                                                                              international organizations that
in Washington, D.C. They hon-        dedicated to travel and outdoor     Center for Corporate Citizen-
                                                                                                              require he maintain a residence
eymooned in Thailand and             subjects in the Southwest. He is    ship. He and his wife, Roxana,
                                                                                                              in Washington, D.C., while
Cambodia. As they were leaving       the third generation of Fesslers    are proud parents of Sophia,
                                                                                                              spending a lot of time in Mex-
their hotel in Cambodia they         to run the company, but the first    born March 10, 2001. They are
                                                                                                              ico. Nichandro is married to an
ran into Andres Keiger!              to make it a full-time operation.   living in Alexandria, Va.
                                                                                                              American who works at the
Exactly half way around the
                                     Susan Fitch works for Teledyne      Alan Kirk is working at Talk         Brookings Institution. They
world from Georgetown, they
                                     Technologies, where she is a        America, a local and long dis-       have a son, Jacob, born last
ran into another Georgetown
                                     business unit chief financial        tance telephone service              August.
                                     officer. She has responsibility      provider. He is director of
                                                                                                              Cheryl Power lives in San
Gustavo Darquea is living            for two manufacturing               incumbent local exchange carri-
                                                                                                              Francisco, Calif., and works for
with his wife, Paola, and three      facilities—one in Sacramento        ers relations, and spends most of
                                                                                                              a boutique consulting firm,
boys, Gustavo (5), Santiago (2),     and the other in Mountain           his time investigating the
                                                                                                              TopDown Consulting, which
and Sergio (born 2/14/02), in        View. She is living in Plac-        regional Bell operating compa-
                                                                                                              specializes in financial systems
Guayaquil, Ecuador. A year ago,      erville, Calif., on a small ranch   nies for anti-competitive behav-
                                                                                                              implementations using Hyper-
he started his own industrial        in the foothills of the Sierras.    ior and also lobbying the state
                                                                                                              ion software. The company has
catering company there, Trebol                                           public utilities commissions and
                                     Melissa Frank and her hus-                                               grown from four employees
Verde Hotels and Food Ser-                                               the Federal Communications
                                     band, Gary, are the proud par-                                           when she started a year-and-a-
vices, a member of the Catering                                          Commission. His twin boys are
                                     ents of Caitlin, born on May 24,                                         half ago to twelve currently and
Service Group, which serves                                              now 11-years-old and his wife
                                     2001. Melissa and Gary are                                               she travels frequently for work.
about 35,000 meals per day.                                              continues to teach high school
                                     sleepless in Stamford, Conn.
                                                                         English in Montgomery                Gretchen Reachmak left Ernst
Giselle Engstrom is living in
                                     Lori Greiner is living in           County, Md.                          & Young about two years ago to
Los Angeles, Calif., and is still
                                     Denver, Colo., working for                                               join an information technology
working for a division of                                                Andris Levensteins has been
                                     Invesco Funds. She moved there                                           subsidiary called Ernst & Young
Fox/News Corp.                                                           with Sun Microsystems Inc. in
                                     to use the thin air to hit a golf                                        Application Services (EYAS).
                                                                         Broomfield, Colo., as a business
Eli Faskha married Vicky             ball farther.                                                            Since then, Cap Gemini pur-
                                                                         development manager for Sun
Cohen on June 18, 2000, and                                                                                   chased the Ernst & Young
                                     Nikolay Greynert is working         Support Services for more than
they now live in Panama. With                                                                                 consulting arm, which included
                                     in southern Ukraine as human        a year. He lives with his wife,
a partner, Eli started Soluciones                                                                             EYAS. Gretchen now works
                                     resources director for Chumak,      Ingrid, and their son, Niklavs, in
Seguras, a company dedicated                                                                                  for Cap Gemini Ernst & Young
                                     a company manufacturing             Arvada, Colo. They spend their
to Internet security, in October                                                                              in Chicago.

                                                                                                                       Spring / Summer 2002      25
 Alumni Notes

 Jorge Serpa is now living in            1, 2001. Tyler was welcomed                                                2002. Alan, Kristin and Naomi

                                                                                                                                      Alumni Notes
 Rome, after three years in Rio de       into the family by her big                                                 currently live in Oak Park, Ill.
 Janeiro, Brazil. Jorge left Enron       brother Jack (2). The family lives    Class Agent: Brian Knox              Alan still works for Veritas, a
 to dedicate himself fully to com-       in Vienna, Va. Susan is now a                       software company specializing in
 petitive sailing, racing and cruis-     full-time mom and is glad she         Peter Brown and his wife,            storage management solutions,
 ing, on a 40-foot racer/cruiser.        left Andersen.                        Vicki, are proud parents of          while Kristen, following mater-
                                                                               Matthew Joseph, born April 4,        nity leave, will return to her job
 Rich Sherman is living and              Malinda (McCulloch) Marsh
                                                                               2002. Peter continues to work        at Wirthlin Worldwide, a mar-
 working in the Philadelphia area,       has updated information:
                                                                               for Arthur Andersen in their         ket-research consulting company.
 analyzing tech companies. His           300 South Pleasant Ave.
 thespian endeavors are well             Ridgewood, NJ 07450;                  business consulting division.
 renowned in the suburban                Phone (201) 689-3169                  Ricardo Colin remains in Sao         IEMBA
 Philadelphia area.                          Paulo, Brazil, working for Inter-
                                         She switched careers and is now       American Express Bank. He
 Navdeep Sodhi is living in
                                         a professor. She teaches at Berke-
 Minneapolis, Minn., and has
                                         ley College in New Jersey, in the
                                                                               manages fixed income hedges           1997
 been working for Medtronic, a                                                 and foreign exchange mutual
                                         business department. She has                                               Class Agent: Lynn Miller
 medical device company, for the                                               funds.
                                         had the opportunity to teach                                     
 last two years. He married Mui                                                Luis Miguel Diaz-Llaneza and
                                         courses in management, intro                                               Robin Abraham is working in
 Lee in October 1999 and they                                                  his wife, Monica, are the proud
                                         to business, accounting, finance,                                           Europe as senior vice president
 have a bouncing two-month-old                                                 parents of Natalia (3), and
                                         and e-business and loves her                                               for legal and business affairs at
 named Ishan.                                                                  Andres (1). Luis Miguel now
                                         new career!                                                                With Grace Entertainment.
 Matt Strelecky is at Aetna,                                                   works for American Express as
                                         Alex Mouslon started working          the relationship management          Marcel Bahro is now the medi-
 managing information technol-
                                         for McKinsey in New York in           director for Mexico.                 cal director at the Zug, Switzer-
 ogy projects. He and his wife
                                         August 2001 and is planning on                                             land affiliate of Wyeth, a global
 Lisa have two children, Andrew                                                Hal Lambert and his wife,
                                         moving to Munich, Germany                                                  pharmaceutical and healthcare
 (6) and Thomas (2). Andrew                                                    Elaine, are proud parents of
                                         later this year. In her free time,                                         company.
 says that he wants to go to meet-                                             Meredith Elaine, born on
                                         Alex is learning German, doing
 ings all day just like Dad does                                               December 19, 2001. Hal reports       Michele Young Barnum spent
                                         aqua-aerobics, and practicing yoga.
 when he grows up.                                                             that young Meredith looks quite      time at home with her twins,
                                         Robin Young-Cordona is                a bit like her father (classmates    Megan and Katie, and is now
 Alison (Daly) Van Dyke was
                                         still working for Development         can decide whether that’s a posi-    back to work at MSR Commu-
 elected in November 2001 to the
                                         Alternatives Inc., and living in      tive or a negative). The couple is   nications in San Francisco as
 school board of Burlingame,
                                         El Salvador, where she survived       relocating to Denver, where Hal      vice president for client services.
 Calif., where she lives with her
                                         numerous earthquakes during           will help open the local J.P.
 husband Bill Van Dyke and one-                                                                                     Jean Luc Béjot and his family
                                         2001. She is consulting with          Morgan downtown office.
 year-old daughter, Claire.                                                                                         have returned to France. They
                                         local financial institutions on a
 Baoky Vu was appointed by               rural micro-finance project. In        Paul LaPorte has a new email         decided last summer that they
 President George W. Bush in             November, she and her husband         address:       were missing their “French way
 August 2001 to serve on the             Carlos had their first child,                                               of life.” He resigned from Prest-
                                                                               Andy Nulman left his post at the
 President’s Advisory Commis-            Nicolas Andres. Fellow George-                                             wick Scientific, a privately-
                                                                               U.S. Department of Commerce,
 sion on Asian Americans and             town moms, Melissa Tucker                                                  owned pharmaceutical company,
                                                                               import administration, to join the
 Pacific Islanders.                       and Mollie Dougherty, have                                                 and left Washington, D.C. in
                                                                               faculty at the University of Mary-
                                         provided valuable advice on this                                           August. Jean Luc is now looking
                                                                               land University College. He has
                                         amazing experience. Robin loves                                            for a position in the pharmaceu-
 1997                                    to hear from folks, so feel free to
                                                                               been appointed associate profes-
                                                                                                                    tical industry in France.
                                                                               sor in the department of account-
 Class Agent: Andrea Alexander           contact her at                        ing and finance at Maryland.          Clark Beyer and his wife,                or check                                               Gretchen, are proud parents of
                                         out Nicolas’ website, www.geoci-      Alan Randolph and Kristin
 Susan Thompson-Hoel and her                                                                                        Ryan Harris, born in April 2002.
                                       Hinrichs Randolph are proud
 husband, John, had a baby girl,                                                                                    According to Clark, “he resem-
                                                                               parents of daughter Naomi
 Tyler Rivers, born on December                                                                                     bles a small elderly man. Mother
                                                                               Kathryn, born on February 11,

26    The McDonough School of Business
                                                                          ALUMNI PROFILE

                                                                          Alum Mines Tech Opportunities Despite Sector’s Decline

                                                                          by Elaine Ruggieri

and baby are doing great, and his    business development within the      In adversity, seek opportunity. That’s William Diamond’s (MBA’83)
sister, Brooke, can’t wait to get    road development group. Mike
                                                                          modus operandi.
him home so the fun can begin.”      works on acquisitions, alliances,
Since his dot-com firm failed in      and managing the firm’s plan-
                                                                          Diamond is president and CEO of
December, Clark has been con-        ning process.
sulting. Anyone interested in                                             WaveSplitter Technologies, Inc.
                                     Nicholas Davidson and his
talking with Clark about new                                              Headquartered in Fremont, Calif.,
                                     wife, Pauline, have been enjoy-
opportunities in the energy/high
                                     ing the wonders of new parent-       WaveSplitter is an independent
tech fields should drop him a
                                     hood since the birth of Gabrielle    provider of optical components and
line at
                                     Felicity Marguerite on Decem-                                                Diamond in his study with a large-
or                                                  modules for optical networking
                                     ber 28, 2001. (Nicholas notes                                                format field camera. Photography
Paul Burdick recently saw Amy        that Pauline likes to follow the     system manufacturers worldwide.         is a favored hobby.
Sample and her daughter in a         French custom of lots of Chris-      Although the telecommunications
bookstore. He also had lunch         tian names!) Nicholas is still at
                                                                          sector has suffered severely in the recent recession, Diamond softens the
with Bill Grove. Bill has recently   McKinsey, getting a steady
joined Booz Allen Hamilton.          trickle of e-mails from current      challenge of managing through these difficult times by understanding that
                                     Georgetown MBAs wanting              opportunities still exist.
Sally Buzbee is back from
                                     advice on how to get in to the
Saudi Arabia and has been busy
                                     summer associate program. He         “The need for communications bandwidth hasn’t stopped. It will continue
with work at the Associated
                                     is working for a major client in
Press. She was one of the                                                 to grow, driven primarily by the Internet and the deployment of optical
                                     the music industry, which he
reporters accompanying Defense
                                     says, “is providing plenty of fun    technology,” says Diamond, who has worked in the international, hi-tech
Secretary Rumsfeld on his visit
                                     challenges, not least in fitting in   field since earning his M.B.A.
to troops inside Afghanistan.
                                     with their dress code—there’s
“Some great guys there, doing
                                     certainly no sign of the alleged     Diamond says what he likes best about his job at WaveSplitter is the
tough work,” she wrote.
                                     return of the suit there.” Nick
                                                                          requirement to shift gears quickly, moving from the sublime to the mun-
Dan Campbell is still having         would love to see any classmates
fun in Newport Beach, Calif. He      who are passing through London.      dane. “I thrive on the dynamics of executive management,” says Diamond.
is working as a technology ana-                                           “It’s financing and mergers and acquisitions one minute, and health and
                                     Dan Everton is still with IBM,
lyst for Roth Capital Partners,
                                     and enjoying life in Reston, Va.     benefits and facilities planning the next. The constant is the need for lead-
and is excited about handling a
small tech IPO. At last report,      Lucy Fitch has taken the con-        ership, direction and decisiveness.”
he was headed off to Hong            cept of IEMBA teamwork to
Kong, in search of the great ex-     new heights. In addition to hir-     With a degree in physics from Holy Cross College, Diamond enrolled at
pat bar we all hung out at.          ing Dennis Morris, she has also      Georgetown and became a member, unwittingly, of its first M.B.A. class,
                                     hired Bob Johnson to join her
Paula Coe has been busy relo-                                             not realizing that Georgetown had just established the program in 1981. “I
                                     team. Lucy worked on the intro-
cating from England, consult-
                                     ductory case with Professors         was drawn to Georgetown because of its general reputation for excellence
ing, and raising two children,
                                     Bob Bies and Lamar Reinsch           and its emphasis on providing an international perspective,” he notes.
Ryan (4) and Jenna (19 months).
                                     again this year for the incoming
Paula and her husband, Rich,
                                     IEMBA class. She and her hus-        He was awarded a fellowship that enabled him to work with an international
returned to North Carolina in
                                     band, David, are doing great. He
August after three years in Eng-                                          marketing expert and counsel undergraduate business students. Reflecting
                                     is the deputy dean for the Pen-
land. Paula taught at a small uni-
                                     tagon’s Defense Acquisition          on his M.B.A. experience, Diamond lists courses in operations, finance, and
versity in England and plans to
                                     University and she says “we see      strategy and business policy among the most valuable to his career.
continue teaching in North Car-
                                     each other over late dinners at
olina this fall.
                                     10 pm—if we’re lucky!” They          Diamond, his wife Susan, and their sons Michael (13) and Christopher (10)
Mike Cook is still with Inger-       catch up on weekends and ride
                                                                          live in Los Gatos, Calif., where they like to hike and ski in the High Sierras
soll-Rand in Pennsylvania and is     their two horses through the
responsible for planning and         woods along the Potomac.             and enjoy the coastline of Big Sur and Monterey.

                                                                                                                              Spring / Summer 2002     27
 Alumni Notes

 Todd Hatfield is consulting in           his daughter Sandra pioneered          a company that is in the news         hit the funding wall as the capi-

                                                                                                                                            Alumni Notes
 Virginia. He recently incorpo-          aviation communications with           almost every day. She is thor-        tal markets dried up,” he notes.
 rated his business and hopes to         AirFone.                               oughly enjoying daughters Kalin       Preferring to stay in Europe, he
 move consulting work to the                                                    (1) and Milena (4). Kalin is now      is looking at other opportunities
                                         Lynn Miller has made time for
 new entity, Competitive Advan-                                                 walking and starting to talk.         in the U.K. Mikel would love to
                                         some volunteer activities in
 tage Technologies, Inc.                                                        Milena never stops talking and        catch up with classmates living
                                         addition to her full-time respon-
                                                                                is doing very well in preschool.      in London and traveling
 Suzanne Kaiser is very busy in          sibilities with Texas Instruments.
 New York, where she writes for          She was invited by the Maryland        Eric Sklar has a wonderful home
 Architecture and Stage Directions       High Tech Council to judge             in beautiful Napa Valley. He is a
 magazines. She recently com-            their annual tech awards. Lynn         partner with Lend Lease Real
                                                                                                                      New Email Address Changes—
 pleted two features on Frank            keeps busy with Lehigh Univer-         Estate Investments, working from
                                                                                                                      Make a Note:
 Gehry’s new controversial theater       sity activities, recently returning    the San Francisco Bay area.
 at Bard College, and another on         to campus to teach a class and to                                            Robin Abraham:
                                                                                Bruce Spencer is now working
 the restoration of the Apollo           moderate a Career Day panel.                                                 Marcel Bahro:
                                                                                as a financial consultant for the
 Theatre in Harlem. She is a                                                                                          Jean-Luc Béjot:
                                         J.D. Pellecchia is living in           company that he ran in Guam,
 member of Columbia Univer-                                                                                           Paul Burdick:
                                         Tampa, Fla., with his wife and         and as a packaging and commer-
 sity’s Reuters Forum on global                                                                                       Dan Campbell:
                                         son, and works at Merrill Lynch.       cial printer in New Jersey. His
 economics, titled “Jihad vs.                                                                                         Paula Coe:
                                                                                consulting job requires he travel
 McWorld,” with such notables            Scott Phillips is on sabbatical                                              Mike Cook:
                                                                                10–14 days a month.
 as Stephen Roach of Morgan              from his job with Accenture in                                               Daniel Everton:
 Stanley, John Birkelund of UBS          San Francisco. He and his wife,        Gene Troy is now with the             Bill Grove: and
 Warburg, James Fallows of               Martina, moved to Prague,              International Institute of  
 Atlantic Monthly, Warren Bass of        where Scott will get to know the       Ammonia Refrigeration (IIAR)          Robert Johnson: robert.e.johnson@baesys-
 the Council on Foreign Relations        Czech side of the family and           as technical director and vice and
 and many other economists and           complete the novel he has been         president of engineering. The         David Klatt:
 government agency heads. She is         writing. He will return in April       institute works on developing         Dennis Morris:
 involved in three literary clubs in     2003. His e-mail contact               safety standards and helps mem-       Jon Pellecchia:
 Manhattan and remains very              remains the same g.scott.phillips@     bers understand regulations and       John Stabb:
 involved in Federated Garden   and Scott asks that      technical matters.                    Gene Troy:
 Clubs of America and the New            anyone passing through Prague
                                                                                Leila Webster has returned to
 York Botanical Garden.                  in the next year drop him a line.
                                                                                the U.S. after her sojourn in
 David Klatt left behind his             Kevin Pitts and his wife, Jen-         Vietnam. After three years in
 start-up experience at AirClic to       nifer, are proud parents of Alli-      Hanoi working on small busi-
 join Newell Rubbermaid, “sell-          son, born in October 2001. She         ness promotion in Vietnam,
 ing garbage cans for a living!”         joins her two-year-old brother.        Cambodia and Laos, Leila is
 David is now one of the senior          Kevin reports that he is “still try-   back in D.C. with the Interna-
 executives at Rubbermaid, work-         ing to make the world a more           tional Finance Corporation. She
 ing for legendary CEO Joe Galli         comfortable place—making fur-          now works in a newly formed
 as group president of the Rub-          niture.” Business is excellent         small business department,
 bermaid Group. According to             despite the economic conditions.       focusing mostly on South Asia.
 their website, he joined Rubber-                                               She makes the long trek to
                                         Amy Sample is now the direc-
 maid in April 2001 as president                                                Dhaka frequently.
                                         tor, benefits strategy and design,
 of Rubbermaid home products,
                                         at US Airways. She is responsi-        Mikel Williams, who has been
 and was promoted in July 2001
                                         ble for the strategy, design, selec-   based near London for the past
 to his current position.
                                         tion, negotiation, and contracting     few years, says his family loves it
 Michael McCarthy is now con-            for all employee benefit plans,         there. He has left GTS. “The
 sulting with telecom pioneers           spending $400 million annually         company, as with most new tele-
 Jack and Sandra Goecken. Jack           for 40,000 employees. She thinks       com firms, assumed too much
 was a co-founder of MCI and             it is really interesting to work for   debt in the markets’ hay day, and

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