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the CoB by yaofenjin


									    the CoB
     M ay 2 0 1 1         |   v o lu M e 2 , i s s u e 5

InsIde thIs Issue
Students Place 4Th At NCUR ...... 2
National Sales Competition ......... 4
Note From Interim Dean ............. 6
MPM Earns Reaccreditation ........ 7
Firms Help Students ................... 8
Mgmt Student Co-Op Of Year..... 10
Scholarships And Awards .......... 11
Johnson-Busbin ....................... 12
Lahm Receives Honors ............. 13
Student Graduates At 18 .......... 15

David O. Belcher Named
New Chancellor at WCU                                  College of Business Earns Reaccreditation
                                                       The College of Business at Western Carolina University has received notice of full
David O. Belcher, provost and vice
                                                       reaccreditation from AACSB International – the Association to Advance Collegiate
chancellor for academic affairs at the
                                                       Schools of Business.
University of Arkansas at Little Rock since
2003, has been elected chancellor of
                                                       Official announcement of reaccreditation came Wednesday, April 6, upon approval of the
Western Carolina University by the Board of
                                                       AACSB International’s board of directors. It concludes a period of extensive self-examination
Governors of the multi-campus University
                                                       by faculty members in the WCU College of Business, followed by a visit from a peer review
of North Carolina. UNC President Tom Ross
                                                       team and the recommendation of the organization’s accreditation maintenance committee.
placed Belcher’s name in nomination today,
Friday, April 8, during a regular meeting              Founded in 1916, AACSB International is the longest-serving global accrediting body for
of the board. Belcher, 53, will assume his             business schools that offer undergraduate, master’s and doctoral degrees in business
new duties July 1, succeeding John W. Bardo,           and accounting.
who is stepping down after 16 years in
the post.                                              Fewer than 5 percent of business schools worldwide earn this “distinguished hallmark
                                                       of excellence in management education,” said Jerry Trapnell, vice president and chief
In recommending Belcher to the Board                   accreditation officer of AACSB International.
of Governors, Ross said: “David Belcher
brings to the task more than two decades               To maintain accreditation, a business program must undergo a rigorous internal review
of academic and leadership experience at               every five years, at which the program must demonstrate its continued commitment to the
highly respected public universities. At               21 quality standards relating to faculty qualification, strategic management of resources,
each step along the way, he has proven                 interactions of faculty and students, commitment to continuous improvement and
himself to be an energetic and effective               achievement of learning goals in degree programs.
leader who encourages strategic thinking,
promotes collaboration and inclusiveness,              “It takes a great deal of self-evaluation and determination to earn and maintain AACSB
and makes student success a university-                accreditation,” said Trapnell. “Schools not only must meet specific standards of excellence, but
wide responsibility. He has also earned                their deans, faculty and staff must make a commitment to ongoing improvement to ensure
a reputation for great integrity, sound                continued delivery of high-quality education to students.”

continued on page 7                                    continued on page 6

  Co l l eGe o f B u s i n e s s                                                                                                       the CoB | PaGe 1
                                                                                                         nCuR Presentations
                                                                                                         with ties to the
Students Fourth Nationally for NCUR                                                                      College of Business
Western Carolina University students once        seems, WCU has more and more excellent                  Business/Finance/Accounting
again rank among the nation’s leaders in the     undergraduate researchers.”
number of their research projects that were                                                              Don’t Go With Your Gut: Using
accepted for presentation at the country’s       Undergraduate research is an important                  Data-Driven Analyses to
most prestigious undergraduate research          component of WCU’s Quality Enhancement                  Determine Budget Cuts
conference.                                      Plan, a comprehensive plan to improve                   Jay Aldridge, presenter
                                                 student learning developed as part of                   Barbara Jo White, sponsor
WCU students had a total of 69 project           the university’s process of gaining re-
abstracts, including six from the College        accreditation from the Southern Association             Code Of Ethics?
of Business, accepted by the National            of Colleges and Schools, Railsback said.                Michael McLamb, presenter
Conference on Undergraduate Research,                                                                    Kyuho Lee, sponsor
an annual springtime gathering where             “Our outstanding performance at NCUR is
                                                 another clear indication that the faculty’s
              college of business
students from across the nation present their
best research. Among the 356 colleges and        commitment to undergraduate education                   Economics

      Golf ClassiC
universities that sent students to this year’s
conference, WCU ranked fourth in the total
number of projects approved by the NCUR
                                                 is real at WCU,” he said. “It takes a lot
                                                 of attention to one student to move
                                                 that student’s idea from conception to
                                                                                                         Income Inequality in the
                                                                                                         United States and Historical Solutions
abstract review committee.                       development, and finally to presentation at             Matthew Sutter, presenter
                                                 the national level.”                                    Inhyuck Ha, sponsor

     Save the Date!
WCU students have ranked in the top 10 in
projects accepted for the conference for six
consecutive years, and the students from
Cullowhee lead all North Carolina colleges
                                                 The WCU contingent traveled by charter
                                                 bus to the March 31-April 2 conference at
                                                 Ithaca College in Ithaca, N.Y. Aside from
                                                                                                         An Economic and Policy Analysis
                                                                                                         of South Korea as the Top Producer
                                                                                                         in the World’s Shipbuilding Industry
      Saturday August 27, 2011
and schools with their participation, said
Brian Railsback, dean of WCU’s Honors
                                                 the cost of a few meals, the trip is provided
                                                 free to the 54 students who had signed on
                                                                                                         Eun-jung Woo, presenter
                                                                                                         James M. Arnott, sponsor
                          (Details to Follow)
College. The college oversees WCU’s NCUR         to make the trip. It was the largest group of
involvement each year.                           undergraduates WCU has ever sent to an
                                                 out-of-state NCUR, Railsback said.                      Management
“Judging by the higher number of rejected
                              c o n ta c t:
abstracts relative to other years, this          During the conference, students presented               Mama Always Said, “You Shouldn’t
        Ken Flynt | front of students and
                            their research in
particular conference was very selective,”                                                               Say Shut Up,” Was She Right?
Railsback said. “WCU faculty and staff           college faculty members from across                     Shannon Owen, presenter
sponsors did a great job mentoring students      the nation.                                             Theresa A. Domagalski, sponsor
and helping them complete the submitted
                                                 Funding for the trip was provided through               Women and Gender Studies
abstracts. Projects accepted for NCUR must
                                                 the Honors College and university funds                 “Is It a Choice?”
be interesting and innovative. Each year, it
                                                 designated for undergraduate research.                  Amanda Bienhaus, presenter
                                                                                                         Lorrie Willey, sponsor

                                                                      Save the Date!
                                                                      Saturday August 27, 2011
                                                                                            (Details to Follow)

           college of business                                                                   c o n ta c t:

    Golf ClassiC                                                        Ken Flynt |

Co l l eGe o f B u s i n e s s                                                                                                  the CoB | PaGe 2
MBA Students Help
Franklin Company as
Part of Class Project
Five MBA teams are not only learning
marketing theory in the class MBA 605:
“Marketing Management,” they are putting
their new skills to use by engaging with
                                                 From left, Dr. Edward Wright of the Global Management and Strategy Department; Lilia Yakina; Mariya Sinitsyna;
business clients from the WCU Small
                                                 and Bobby Fotopoulos.
Business Technology and Development
Center. The teams are conducting basic
                                              with WCU graduate and marketing specialist                The team has benchmarked competitors’
marketing research and developing
                                              Brad Hyder and TekTone’s vice president                   products, conducted market research with
complete marketing plans to help increase
                                              of marketing, Johnny Mira-Knippel. Ryan                   distributors and end-users, and explored
profits and the long-term sustainability of
                                              Taylor of the WCU Center for Rapid Product                partnering opportunities with other
the client companies.
                                              Realization serves as the SBTDC business                  medical manufacturers looking for potential
One MBA team is working with                  counselor to the client.                                  alternative channels of distribution.
TekTone®Sound and Signal Manufacturing
                                              The MBA team has made multiple visits to                  The project culminated at the end of April,
Inc., a local developer, manufacturer and
                                              the client’s site, working on a marketing                 when all five MBA teams presented findings
distributor of nurse alarm call systems
                                              strategy and a commercialization plan                     and final reports to their client companies in
located in Franklin. The team is comprised
                                              for a new product to be launched into                     the Forsyth auditorium.
of MBA students Bobby Fotopoulos, Mariya
                                              the medical device market next year.
Sinitsyna and Lilia Yakina working closely

University Has Resource for Overseas Business
                                              Today’s businesses face global competition for customers. To help them seize opportunities
                                              in global markets, the university’s Small Business and Technology Development Center has
                                              developed special expertise in international business development.

                                              With the help of partnerships with the U.S. Department of Commerce, the U.S. Small
                                              Business Administration’s Export Program, and the U.S. Export-Import Bank, the SBTDC is
                                              able to provide counseling and guidance for firms interested in doing business overseas. The
                                              program provides service to those companies needing assistance with export financing –
                                              either pre-export (export working capital) or post-export financing (payments and/or helping
                                              the overseas buyer find financing to purchase a product).

                                              Annice Brown, a member of the SBTDC at WCU staff, has been helping companies in the
                                              region with international business assistance for the past nine years. Prior to joining SBTDC,
                                              she worked at the World Bank in Washington and the French national agency for research
                                              and development. She completed an extensive training program with Export-Import Bank of
                                              the United States in 2008. Brown can be reached at 828-251-6025 or

Small Business Center Assists Pharmaceutical Company Expansion
The WCU Small Business and Technology         and referrals on exporting, compliance with             $147,744 to Wendy Cagle, director of the
Development Center congratulates Asheville-   FDA guidelines for good manufacturing                   Small Business and Technology Development
based King Bio on its recent growth. The      practices (or GMPs), management and                     Center at Western Carolina University, to
natural medicine company added 35             growth. The SBTDC also facilitated a strategic          expand SBTDC services and programs.
employees in 2010 and is exporting its        marketing retreat by for the company. We
natural medicines, supplements and natural    congratulate King Bio on its recent success.
pet remedies to South America, South Africa
and Australia. The SBTDC has assisted King    The Small Business and Technology
Bio for several years, providing counseling   Development Center recently awarded

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                                                                                                                       Western Carolina University
                                                                                                                       students Nate Hunzaker (left)
                                                                                                                       and Jena Weinstock (right)
                                                                                                                       show trophies won recently at a
                                                                                                                       prestigious national collegiate sales
                                                                                                                       competition to Jim DeConinck,
                                                                                                                       director of WCU’s Center for
                                                                                                                       Professional Selling and Marketing.

Students Win Honors at National Sales Competition
A Western Carolina University business             Hunzaker and Jena Weinstock, a senior            “The NCSC, the world’s largest collegiate
student claimed second place among                 majoring in entrepreneurship with a minor        sales competition, pits top sales students in
122 competitors in a prestigious national          in marketing, took home the seventh-place        a test of live role-play, one-on-one sales call
collegiate sales competition, while he and         trophy in the team event.                        challenges. Each sales call is broadcast live
his WCU teammate placed seventh out of                                                              to faculty and recruiters, who evaluate each
61 schools in team competition.                    It marks the best performance by Western         student’s performance.”
                                                   Carolina students since the university started
Nate Hunzaker, a senior majoring in sales          competing in the event seven years ago, said     Hunzaker is a 2007 graduate of Green Hope
and marketing and computer information             Jim DeConinck, director of WCU’s Center          High School. He is the son of Mark and
systems, finished second in individual             for Professional Selling and Marketing.          Susan Hunzaker of Cary.
competition at the 12th Annual National
Collegiate Sales Competition hosted by             “The students not only got a chance to           Weinstock is a 2007 graduate of Meyers Park
Kennesaw State University in March.                compete, but also networked with recruiters      High School. A resident of Charlotte, she is
                                                   from across the nation,” DeConinck said.         the daughter of Billy Weinstock and Lynn Geer.

Honor Society Inducts Students and Gives Scholarship

                                                   This spring, the WCU chapter of Beta             Carmen Holland, Nathan Hunzaker,
                                                   Gamma Sigma, the honor society for               Jonathan Jeuck, Aliaksandr Kikoin, Ben King,
                                                   AACSB-accredited programs in business and        Wil Owens, Rachel Pedo and Tara Stephens;
                                                   the business equivalent of Phi Beta Kappa,       and graduate students Teresa Franklin, Mark
                                                   inducted the following students based on         Hunzaker, Jonathon Lawrie, Heath Nettles,
                                                   their outstanding academic performance:          Jacob Nygaard, Kathryn Warner, Brunilda
                                                   juniors Doreen Castle, Glen Higdon,              Weber and Suzanne Willard.
                                                   Candace Ledford, Michael McLamb, Josh
                                                   Moore, Scott Richmond, Denise Rowe,              The chapter also awarded Castle, an
                                                   Jessica Sprouse and Eric Watts; seniors          accounting major, a $1,000 scholarship to
                                                   Ganna Beshlyeva, Rene Gamez-Correa,              be used for the 2010-11 academic year.

Professor Robert Mulligan with Beta Gamma Winner
Doreen Castle and her husband Jack

Co l l eG e o f B u s i n e s s                                                                                                      the CoB | PaGe 4
 School Year Had Many Highlights for COB
 By Ken flynt

 Throughout this 2010-11 school year, the         Building, thanks to a significant gift by alum
 College of Business has maintained a fast        Kevin Vasquez, class of ’79. Kevin directed
 pace of activity and accomplishment. Let’s       that the facility be a place of recreation,
 take a moment to recap just a few of the         relaxation and relief from the college grind.
 many highlights we have recorded.                We tried hard to comply with his wishes,
                                                  including installing a new TV, computers,
 At the semester beginning, we conducted          video games, microwave and a wide
 our annual College of Business Golf Classic      selection of snack and refreshment options.
 at Rock Barn Golf Club and Spa. Nearly 140       Please stop by and check it out the next time
 students, faculty, alumni and supporters         you’re on campus and in Forsyth. I sure wish
 of the college played golf, enjoyed great        we had something like that when I was here
 food, met new friends and enjoyed the spa’s      in school!
 relaxing amenities. Importantly, the College
 of Business was able to register a new high      Through the fall and spring semesters, we
 in funds raised for our student scholarships     continued our speaker series, “Insights
 and support from that event.                     and Reflections.” Guest speakers included        of achievements in the past eight months.
                                                  motion picture producer Mark Lindsay, who        Much of the credit goes to our dedicated
 At the college’s “Fall Kickoff” we received      discussed the fascinating business aspects of    faculty and staff and the constancy of our
 an inspiring lecture by alumnus Clifton          the movie business, and financial executive      engaged and caring alumni. Thank you for
 Lambreth. He cited his key role in the           John Wille, who laid out paths for success       all you do!
 turnaround of Ford Motor Corp. and used          in financial services businesses. N.C. State
 that as a basis to inspire our students to be                                                     Kenneth E. Flynt, an alumnus of WCU, is
                                                  Treasurer Janet Cowell presented in April
 hard-working thinkers and leaders. After                                                          associate dean of advancement in WCU’s
                                                  on the financial circumstances in North
 the closing remarks, he joined our college                                                        College of Business and a faculty member
                                                  Carolina and the future role our students
 leadership, faculty, and students for a social                                                    in the department of accounting, finance,
                                                  must play in continuing to shepherd our
 and cookout outside of Forsyth.                                                                   information systems and economics.
                                                  state fiscal resources.

 During the year, we have fully renovated         As we wrap up another academic year, the
 our college’s student lounge in Forsyth          College of Business is pleased at our array

note from the Interim dean Louis e. Buck Jr., Ph.d.
The 2010-11 academic year has passed very         information was a herculean effort. The PRT      in a field of 122 students at the National
rapidly. Perhaps the very full schedule had       arrived on Feb. 20 and departed on Feb. 22       Intercollegiate Sales Competition and
something to do with that! Since Aug. 1,          after reporting to the chancellor that they      the college placed seventh in the team
I have been serving as your interim dean;         were recommending extending accreditation        competition.
there is nothing like on-the-job training to      for an additional five years. Many of the
get you acclimated in a hurry. In October,        faculty and staff in the college were directly   I greatly appreciate the support you have
the Project Management Institute arrived to       involved in the process, and I congratulate      afforded me this year serving as your interim
review the reaccreditation request submitted      every one of you. In particular, I want to       dean. In just a few weeks we will have the
by our masters of project management              commend Associate Dean Debra Burke,              opportunity to see the fruits of our labors as
(MPM) program. WCU’s MPM program was              Dr. Hollye Moss, Dr. Michael Smith, the          they proudly cross the stage at graduation. I
the first accredited program in the United        Assurance of Learning committee, the AQ /        look forward to seeing you there.
States; in January, we were notified that it      PQ committee, and Jessica Wisniewski and
                                                                                                   Louis Buck
became the first program to be reaccredited       Kelly Schoon in the dean’s office for their
as well. Jerry Kinard and Vittal Anantatmula      diligence and hard work. We could not have
and the MPM faculty are to be congratulated       done it without them.
for this accomplishment.
                                                  Once again, our programs and students
It would have been impossible to spend            achieved recognition for excellence in the
much time in the College of Business in           activities in which they were involved. The
the first semester without hearing the term       Mediation Team, under the guidance of Dr.
“AACSB.” The college was to be reviewed for       Jayne Zanglein, finished sixth in a national
the first time in 10 years and the amount of      field at Drake University School of Law,
preparation necessary to comply with the          with three of our students being named the
requirements of the review and respond to         All-American mediation advocacy team.
the peer review teams’ (PRT) requests for         Nate Hunzaker, a marketing and computer
                                                  information systems major, placed second

Co l l eGe o f B u s i n e s s                                                                                                   the CoB | PaGe 5
                                                                                                           COB Earns
                                                                                                           continued from cover

                                                                                                           “Reaccreditation by AACSB International
                                                                                                           provides the official stamp of approval on the
                                                                                                           undergraduate and graduate degree programs
                                                                                                           in business offered at Western Carolina,” said
                                                                                                           Louis Buck, interim dean of WCU’s College of
                                                                                                           Business, Buck. “It confirms to our students,
                                                                                                           alumni, employees, and business and industry
                                                                                                           partners that our graduates truly are ‘business
                                                                                                           ready’ because they have learned and gained
                                                                                                           valuable experiences in programs judged to be
                                                                                                           of the utmost in quality.”

                                                                                                           The College of Business is listed in a book
MPM Faculty (L-R): Associate Professor Yang Fan, Instructor Parviz Rad, MPM Director Vittal Anantatmula,   published recently by the Princeton Review
Associate Professor Michael Thomas and Professor Mary Ann Nixon                                            as among the nation’s best schools at
                                                                                                           which to earn a master’s degree in business

Project Management Program Earns                                                                           administration. The educational services
                                                                                                           company features WCU in the 2011 edition
Reaccreditation                                                                                            of its guidebook, “The Best 300 Business
                                                                                                           Schools,” which is based on surveys of
The Project Management Institute’s Global Accreditation Center board voted Jan. 13 to confer               19,000 students in business programs around
GAC accreditation status on WCU’s master of project management degree program, part of                     the world.
the College of Business. In doing so, the GAC board recognizes the commitment to project
management educational excellence that has been demonstrated by the WCU College of                         In addition, the college’s online master’s
Business throughout the GAC accreditation process. Congratulations to all involved with                    degree program in project management is
this program for this significant academic achievement. The reaccreditation came after a                   ranked No. 1 in the nation in quality and
PMI Global Accreditation Center visit in November.                                                         affordability by the distance education
                                                                                                           information clearinghouse

Faculty in the news
Kadie Otto, associate professor of sport                  Care Manager. The manuscript, “Layoffs           Project Manager in Achieving Success across
management, recently presented a scholarly                at Hospitals: A Challenge for Health Care        the Project Life Cycle.”
paper at the 24th Annual Sport & Recreation               Managers,” details the plight of health
Law Association conference in Savannah,                   care providers caused by the continuing          • Koninika Patel, Skema Business School,
Ga. Otto’s paper was titled “Carrying                     economic recession.                              ESC, Lille, France, 2010. “Investigating the
a good joke too far? An analysis of the                                                                    Importance of Project Marketing in Project
enforceability of student-athlete consent to              Vittal Anantatmula, MPM director/                Management.”
use of name and likeness.” This presentation              associate professor of project management,
                                                          conducted a workshop titled “Critical            Jayne Zanglein and two students, Amanda
was also published as a journal article
                                                          Chain Project Management” on March 8             Bienhaus and Kristi House, published two
in the Journal of Legal Aspects of Sport
                                                          in the McDonough School of Business at           articles in the American Bar Association,
2010, 20(2), 151-184, with her co-author
                                                          Georgetown University. The workshop is           Supreme Court Preview, a periodical for
Kristal S. Stippich. Most recently, Otto was
                                                          part of an executive education program for       journalists who report on Supreme Court
quoted in a Feb. 8 newspaper article (http://
                                                          ABENGOA project managers and executives.         cases: “Must a Rail Worker Who Is Injured
                                                          ABENGOA is an international company that         on the Job Prove That the Injury Was
NEWS01/102080315/1079) titled “UI’s
                                                          applies innovative technology solutions for      Proximately Caused by the Railroad in Order
presidential committee on athletics
                                                          sustainability in energy and environment.        to Recover Under the Federal Employers’
reviewed” in the Iowa City Press-Citizen.
                                                          Anantatmula also recently had an article         Liability Act?” (with Bienhaus) and “Does
At the end of April, Otto, along with her
                                                          published in The VINE: Journal of                the Fiduciary Exception to Attorney-
co-author Dr. H.R. Otto, will be presenting
                                                          Information and Knowledge Management             Client Privilege Apply to Communications
a scholarly paper at College Sport Research
                                                          Systems titled “Impact of Cultural               Between the U.S. Government and an
Institute 2011 Scholarly Conference at the
                                                          Differences on Knowledge Management in           Indian Tribe?” (with House). Her article
University of North Carolina at Chapel Hill.
                                                          Global Projects.” Besides doing workshops        “Institutional Investors, Climate Change
Their paper is titled “Clarifying Amateurism:
                                                          and publishing, Vittal also serves as an         and Environmental Issues in the Wake of
A Linguistic Analysis of the Term ‘Amateur.’
                                                          adviser and a member of the doctoral             the Deepwater Horizon Disaster: Assessing
Jerry Kinard and Edward Wright have co-                   dissertation committee of the following:         Climate Change Risk through Corporate
authored a manuscript that will appear in                                                                  Disclosure” was published by the New York
the April-June 2011 issue of The Health                   • Valencia Dyett, Lynn University, Flordia,      University Review of Employee Benefits and
                                                          2011. “Roles and Characteristics of the          Executive Compensation.

Co l l eGe o f B u s i n e s s                                                                                                           the CoB | PaGe 6
David O. Belcher Named New Chancellor at WCU continued from cover

                                                                                                                faculty research and promote economic
                                                                                                                development, implemented initiatives to
                                                                                                                improve student retention and graduation
                                                                                                                rates, earned designation as a Carnegie
                                                                                                                Community Engaged institution, and
                                                                                                                begun a thorough review of the
                                                                                                                undergraduate curriculum. Belcher also is
                                                                                                                a member of the leadership team for UALR’s
                                                                                                                first comprehensive development campaign,
                                                                                                                which reached its $75-million fund-raising
                                                                                                                goal 1½ years ahead of schedule in summer
                                                                                                                2010 and has now been extended to
                                                                                                                $100 million.

                                                                                                                Throughout his career, Belcher has appeared
                                                                                                                widely as a recitalist and chamber musician
                                                                                                                and been active in civic and community
                                                                                                                organizations. He currently serves on
                                                                                                                the boards of directors of the Arkansas
                                                                                                                Symphony Orchestra and the Winthrop
                                                                                                                Rockefeller Institute. A past chair of the
                                                                                                                Little Rock Arts and Culture Commission,
 Tom Ross (right), president of the University of North Carolina system, meets with David O. Belcher, who was   he has previously led the boards of the
 named WCU’s next chancellor on Friday, April 8, and Belcher’s wife, Susan.                                     Springfield (Missouri) Regional Opera
                                                                                                                and the Springfield Regional Arts Council
decision-making, and a strong commitment                    A native of Barnwell, S.C., Belcher graduated       and has held leadership positions with
to community engagement and outreach. I                     from Furman University in 1979 with a               the National Conference of Governors’
am convinced that Dr. Belcher has the right                 degree in piano performance. After receiving        Schools, Missouri Citizens for the Arts, the
mix of experience, skills, and passion needed               a master’s degree (1981) in the field at            Missouri Alliance for Arts Education, and
to take Western Carolina to the next level,                 the University of Michigan, he studied in           the Urban Districts Alliance. Voted 2004
and I am thrilled that he has agreed to join                Vienna, Austria, on a Rotary Foundation             Administrator of the Year by UALR students,
our leadership team.”                                       Graduate Fellowship before earning his              he also received the 1999 Ozzie Award from
                                                            doctorate (1989) at the University of               the Springfield Regional Arts Council in
A member of the University of Arkansas                      Rochester’s Eastman School of Music.                recognition of his outstanding contributions
System, the University of Arkansas at                       While a student at Eastman, he received the         to the arts.
Little Rock is a doctoral research university               Jerald C. Graue Memorial Scholarship for
enrolling more than 13,000 students at                      excellence in musicological research.               Belcher is married to Susan Brummell
the undergraduate, master’s, and doctoral                                                                       Belcher, who teaches voice at UALR and
levels. Its six colleges and UALR’s William H.              Belcher began his academic career in 1988           co-chairs the UALR Music Department
Bowen School of Law include more than 100                   as an assistant professor of music at Missouri      Recruitment Committee.
programs of study. Like Western Carolina,                   State University. During his 15-year tenure
UALR has experienced significant enrollment                 at MSU, he rose steadily through the
growth while increasing academic standards                  academic and administrative ranks. After
and has focused on meeting regional and                     serving as coordinator of keyboard studies
state needs in education, health-related
fields, and strategic areas of research and
                                                            in MSU’s Music Department (1989-92) and
                                                            assistant dean of the College of Arts and
                                                                                                                 “David Belcher brings
development. As provost and vice chancellor
for academic affairs, Belcher is UALR’s chief
                                                            Letters (1993), he was named dean of the
                                                            College of Arts and Letters in 1994. He left
                                                                                                                 to the task more
academic officer. In that role, he has been                 Missouri in 2003 to join UALR as provost             than two decades
responsible for overseeing all academic                     and vice chancellor for academic affairs.
programs, as well as providing leadership for
                                                            At UALR, Belcher has been credited with
                                                                                                                 of academic and
the Offices of Research and Graduate Studies,
Innovation and Commercialization, and                       leading strategic planning and emphasizing           leadership experience”
Extended Programs; UALR’s Ottenheimer                       the campus’ institutional mission to be
Library; student recruitment; the UALR                      responsive to regional and state priorities.         -Tom Ross
Nanotechnology Center; the Sequoyah                         Under his leadership, the campus has
National Research Center; the Arkansas                      launched seven new doctoral degree
Studies Institute; and the Donaghey                         programs, created an Office of Innovation
Scholars Program.                                           and Commercialization to capitalize on

Co l l eGe o f B u s i n e s s                                                                                                               the CoB | PaGe 7
                                           Firms Help Students Explore Career Opportunities

                                                      “The sponsorships allow us to hold this                 Raffling off free CPA review courses from
                                                      event free of charge to students, and to                Becker, Gleim & Roger CPA Review, two
                                                      offer a venue for government and not-                   iPods and three crisp hundred-dollar bills
                                                      for-profit organizations to discuss career              (compliments of Johnson Price & Sprinkle)
                                                      opportunities that are available outside                made for a festive atmosphere, but searching
                                                      the normal corporate setting,” said Susan               for a job is serious business. One student
                                                      Swanger, who is the director of WCU’s                   summed it up this way: “Talking to some
                                                      master of accountancy program.                          of the recruiters drove home the point that
                                                                                                              I need to really do some planning about
WCU accountancy programs once again                  Volunteers from the IRS, the N.C. State                  where I want to go and what I want to do. I
hosted “Meet the Firms Night” on Feb. 22.           Auditor’s Office, UNCA, WCU and Haywood                   can’t just wait until I graduate and say, ‘Here
More than 90 students and 28 volunteers             County were flooded with questions from                   I am’ and expect to get a job.”
from area businesses mingled, exchanged             students, as were the internal auditors from
business cards and resumes, networked, and          Ingles Markets and HomeTrust Bank.                        Anyone interested in becoming involved
shared experiences with each other.                                                                           with future events is encouraged to
                                                    “I do a lot of campus recruiting, and this                contact Swanger at 828-227-3525 or
Corporate sponsors of this year’s event were        is one of my favorite events,” said Tim         
Becker CPA Review, Dixon Hughes, Drake              Sobon, recruiting and retention manager for
Enterprises, Gould Killian CPA Group,               Atlanta-based Moore Stephens Tiller. “The
                                                    intimate setting provides an opportunity to               at left: WCU accounting student Amber Ogle Anderson
HomeTrust Bank, Johnson Price & Sprinkle,                                                                     gathers information about graduate school and careers.
Macon Bank, and Moore Stephens Tiller.              spend meaningful time with every student.”

NCAMP Prepares for                                                                                            22 Attend Mediation
National Conference                                                                                           Training
The Advisory Board for the N.C. Agricultural                                                                  Eighteen students, one alumnus and
Mediation Program met March 25 to                                                                             three faculty members attended a 21-hour
prepare for the national conference of                                                                        community mediation training offered
certified agricultural mediation programs                                                                     through the Campus Mediation Society on
                                                    Justin Brown assists some participants as they work on
(CAMP), which will be held in Wilmington                                                                      two weekends in March. Students learned
                                                    a conflict exercise.
on June 6-9. As the host of the program,                                                                      conflict resolution skills and how to mediate
NCAMP is inviting speakers, arranging
for agricultural activities, and making the
                                                    Law Students Speak                                        disputes. The training was taught by Valorie
                                                                                                              Nybo, a conflict resolution major, and Jayne
logistical arrangements for the 34 other            at Whee Lead                                              Zanglein, business law faculty.
state CAMP programs. Invited guests
include Carolyn Cooksie (national deputy            Conference
administrator, Farm Loan Programs),
Carol Wagner (FSA Appeals and Litigation            Four business law students made
national office), Aaron Martin (N.C. Farm           presentations at the Whee Lead Conference
Service Agency state executive director), Ray       for campus leaders on March 26. Jessica
Starling (general counsel, N.C. Department          Phillips coordinated two sessions on conflict
of Agriculture) and Larry Atkinson (Rural           management. Romie Patel spoke on how to
Management Agency Eastern regional                  arrange large meetings. Justin Brown and
director).                                          Bobby Woods spoke on anger management.

                                                                                                              Barbara Jo White, Toni Burrell, Ka Young Oh and Mary
                                                                                                              Beth DeConinck debrief a mediation with Jayne Zanglein.

                                                    Jessica Phillips speaks on conflict, assisted by Justin
                                                    Brown and Bobby Woods.
Advisory Board members Bob Chandler, Bob Holbert,
Carolyn Lyle, George McGee and Stuart Lee.

Co l l eGe o f B u s i n e s s                                                                                                                   the CoB | PaGe 8
Business Faculty Attend Hospitality and Tourism Conference
The 2011 North Carolina Governor’s              with Gov. Bev Perdue making an address.           tourism professionals and brings together
Conference on Hospitality and Tourism was       According to the Asheville Citizen-Times,         representatives from chambers of commerce,
held March 13-15 at the Grove Park Inn          presentation sessions covered topics              convention and visitors bureaus, popular
Resort & Spa in Asheville, one of our state’s   including the 2011 state of the industry,         attractions, historic sites, the restaurant
most popular tourist destinations. Western      travel research industry reports, trends          and lodging industry, business and state
Carolina University was a sponsor for the       affecting destination marketing, managing         government.
event. Dr. Louis Buck, dean of the College      new technologies for tourism marketing,
of Business, and hospitality and tourism        best practices in a changing media                Tourism remains a robust segment of the
management professors Carroll Brown,            landscape, culture and heritage as factors        North Carolina economy. The travel and
Sandra Grunwell and Kyuho Lee                   in destination positioning, and strategies        tourism industry employs more than
and attended the conference.                    for success.                                      185,000 people across the state. In 2010, 37
                                                                                                  million visitors to North Carolina spent $17
More than 500 North Carolina tourism            The conference is a premier educational           billion, which generated nearly $1.5 billion
professionals attended the conference,          and networking event for the state’s              in state and local tax revenue.

WCU Students Create “Cullowhere”
to Promote Area’s Events By lex Menz | special to the CoB
Two Western Carolina students have started      “Cullowhere” also helps promote
a website to promote community activities       local businesses by getting the
for students to get out of their dorms, but     information out that they exist.
also to stay at Western Carolina over the       Hunzaker said that often students
weekends.                                       will decide to make a lengthy trip
                                                to Asheville or Cherokee instead of
WCU senior Nathan Hunzaker originally           staying close because they believe
started a WordPress website dedicated to        there is nothing to do. By posting
showing students what activities were being     events, local businesses in Sylva,
planned in Cullowhee and the surrounding        Cullowhee and Dillsboro can now
towns. The project was meant for Hunzaker’s     attract more customers because they
design portfolio. However, the WordPress        have an outlet that gives students
page was taking up too much time with little    easy access to all the information on
feedback. Hunzaker needed something more.       events happening around them.
Then senior Justin Rhodes came into the                                                           Hunzaker and Rhodes have been able to
picture and said, “What can I do?”              “There’s a genuine need to know what you          accomplish what they have with the help
                                                can do on a Friday night,” Hunzaker said.         of their mentors, Western Carolina faculty
“I created the pebble,” Hunzaker said, “And                                                       members from the College of Business: Dr.
Justin pushed it off the ledge.”                “We’re looking at a proactive approach to         Frank Lockwood, Robert “Bob” Carton, Dr.
                                                provide consumers information,”                   Robert Lahm for online advertisement, and
The two began a website called                  Rhodes added.                                     Dr. Bill Richmond for business process and
“Cullowhere,” located at,
                                                                                                  IT concerns.
with Hunzaker doing the design and Rhodes       Cullowhee is not the end of the line for
taking over the marketing. The website          Hunzaker and Rhodes. They hope to take            “We have a very strong board of mentors
features several categories, such as “WCU”      the “Cullowhere process” to other smaller         that have really been putting us through the
and “Concert,” where students find specific     college towns around the United States            meat grinder, honestly,” Rhodes said. “They
activities. With an aesthetically pleasing      through the company they are building,            are making sure our goals are realistic and
background of a sky and green hills, the site   called 21sixteen. Currently, the pair are         are grounding us.”
is user-friendly and efficient. Students can    finalists at the Five Ventures Business
choose to attend an event then share the        Innovation Competition sponsored by Angel         Through “Cullowhere,” Hunzaker and
information with their friends via Facebook.    Investors. If they win, the funding could         Rhodes are making a future for themselves.
                                                assist in payments to get “Cullowhere” up         Through social media, the two students have
“There’s more in Cullowhee than you             and running around the country. It would          developed what could be the next Internet
think,” Hunzaker said. “We have 115 events      then be known as “Anywhere.”                      sensation.
over a two-month period.”
                                                “We want to prevent money from leeching           “If there’s one gist of ‘Cullowhere,’”
                                                out of smaller areas to large cities,” Hunzaker   Hunzaker said, “It’s participate!”

Co l l eGe o f B u s i n e s s                                                                                                   the CoB | PaGe 9
student news

                                                                                                   Management Student
                                                                                                   Selected as Co-op
                                                                                                   Student of the Year
                                                                                                                               Each year,
                                                                                                                               Career Services
                                                                                                                               presents the
                                                                                                                               Co-op of the
                                                                                                                               Year Award.
                                                                                                                               This year’s
                                                                                                                               chosen from
                                                                                                                               10 students
                                                                                                                               by their co-op
                                                                                                  Dr. Hollye Moss, Associate
                                                                                                  Professor, with Tabitha Ashe is Tabitha
                                                                                                                               Ashe, a senior
                                                                                                  majoring in management. She was judged in
                                                                                                  four areas: work performance, contributions
                                                                                                  to the co-op employer, professional
                                                                                                  development and personal growth. Tabitha’s
                                                                                                  co-op was with the Jackson County Tax
                                                                                                  Administration Office.

                                                                                                   In nominating Tabitha, her co-op supervisor,
                                                                                                   Bobby McMahan commented, “I have
Students Gain Insight into                                                                         supervised people of all ages, race, genders,
Investment Profession                                                                              and educational levels over the past 28
                                                                                                   years. Tabitha is one of the most organized
                                                                                                   people I have ever met. She takes great
The COB Finance Club sponsored a trip to Charlotte on April 8. Grace Allen, associate
                                                                                                   pride in all work tasks she performs. Her
professor of finance, led the trip. They visited Horizon Investments, a boutique money
                                                                                                   ability to be trained for any given task is a
management firm. Rick Desoto, hosted the group for lunch at Morgan Stanley/Smith
                                                                                                   bit uncanny. Whether it is a manual task,
Barney, where Desoto is senior vice president. The students talked with WCU alumni
                                                                                                   software issue, programming, or hardware
Rick Desoto, (BSBA 1977) and David Delaney (BSBA 1978) about the bond market and
                                                                                                   implementation and be they small or large,
their careers as financial advisers. Both corporate visits gave the students an opportunity
                                                                                                   you never have to tell her or show her twice.
to learn more about jobs in the investment profession and the skill set they will need to
                                                                                                   She is very thorough, pays great attention to
be competitive.
                                                                                                   detail and has a very minimal error rate.…
                                                                                                   Now and in the future, she will be an asset
                                                                                                   to any employer.”

Students Take Advantage of Professional Opportunity
                                                   This spring, two hospitality and tourism       each education session attended, students
                                                   management students, Muhammad Azizi            can start earning points toward becoming a
                                                   and Alex Bially, represented the WCU-          certified club manager. Each CMAA student
                                                   CMAA Student Chapter at the 84th World         chapter is required to submit a poster
                                                   Conference on Club Management and              presentation on one of five categories of
                                                   Exposition, Feb. 24-27 in Orlando, Fla.        its concept of the Club of the Future. This
                                                                                                  year WCU-CMAA’s poster presentation
                                                   The conference includes special student        was on the future of club technology.
                                                   education sessions for the 53 CMAA             The conference also included a career fair
                                                   university student chapters. Students can      for students and managers to meet and
                                                   also attend the manager educational sessions   interview for postgraduate and internship
                                                   and the club industry business expo. For       positions.

Co l l e G e o f B u s i n e s s                                                                                              the CoB | PaGe 10
College Recognizes Students with Scholarships and Awards
The College of Business held its annual awards and scholarship ceremony April 16 in the Forsyth Building auditorium. Each year, the
college awards nearly $70,000 in scholarships. Most of the scholarships that come through the college are provided by generous donors.
The college also recognized students who are outstanding in their field.

Students who were recognized applied online and were selected based on the necessary criteria by the Scholarship and Awards Committee,
whose members are Grace Allen, chair; Mary Beth DeConinck; Theresa Domagalski; Angie Fiebernitz; Kyuho Lee; Debra Burke; William
Richmond; and Jayne Zanglein. This year’s recipients were:

Outstanding Majors                                Scholarships
Accounting: Vickie C. Funk                        Accounting Advisory Board:
                                                  Elizabeth Rose Munday, Katelan Suzanne Price      Susan L. Swanger Professional Accountancy:
Banking: Joshua David Crisp
                                                                                                    Jacob Nygaard
Business Administration and Law:                  Advertising Federation of WNC:
                                                  Courtney Teresita Timmons                         Study Abroad: Jannidy Gonzalez,
Romie Dipak Patel
                                                                                                    Katherine Lillian Richards
Computer Information Systems:                     Alumni and Friends: Tony Kenneth Eaves
                                                                                                    Charles and Clifton Lambreth:
Nathaniel James Hunzaker                          Dixon Hughes: Natalia Rosero                      Jennifer Rae Diane Brazelton
Economics (minor): Anthony Byron Ballard          Xena Bristol Forsyth: Joshua Alexander Moore      Duane and Wanda Reid: Rene Gamez Correa
Entrepreneurship: Jonathan Steve Julien           Gould Killian: Kelly Marie Meyers                 Freda Russell Rayburn (graduate): Marsha
                                                                                                    Kathleen Price, Brittany Marie-Charrel
Financial Planning: Anthony Byron Ballard         Ed and Bertha Henson Reed: Daniel Glen Keener     Solomon, Kathryn Louise Perry
Hospitality and Tourism: Amy Luanne Roberts       Steve and Linda Reese: James Conner Orr           Mary and Charles Wayte: Erika Starr Dahl, Bobby
Management: Colleen Blanche Blackman              David McKee Hall: Jakob Maverick Klodt            H. Fotopoulos, Myranda Hope Nash, Grant
                                                                                                    N. Millin, Michael Donald Taylor, Mariya A.
Marketing: Nathaniel James Hunzaker               Timothy and Betsy Gillespie: Daniel Lane Parris   Sinitsyna, Ryan Anthony Jaskot
Sport Management: John David Large                Hospitality Management:                           Becker CPA Review: Mallory Nicole Trasport
Outstanding Senior Award:                         Chelsey Elizabeth Delozier
                                                                                                    NCACPA (local chapter):
Nathaniel James Hunzaker                          Independent Insurance Agents of N.C.:             Sheena Singleton Stevens
Outstanding MAcc Student: Amber Laurel Esmond     David Rhys Morgan, Courtney Jane Wade
                                                                                                    John Beegle Alumni and Friends:
Outstanding MBA Student: Marsha Kathleen Price    William Kane: Michael Cody McLamb                 Keith Thomas Graham
Outstanding ME Student: Shelia Annette Robinson   Michael Morgan Memorial: Antoinette Marie         Project Management Institute – Metrolina Chapter:
                                                  Burrell, Caleb Clayton Chandler                   Mauricio Velasqnez
Outstanding MPM Student: Wendy Ellen Love
                                                  N.C. State Board of CPA Examiners:                Ted and Frances Reese Memorial:
Financial Executives International Award:         Amber Joy Ogle Anderson, Kara Joan Enstad
Anthony Byron Ballard                                                                               Cherilyn Marie Ball
                                                  Bronce and Betty Ray: Jarrett Bruce Alley         Laura and Phillip Sherrill: Cory David Spaugh
Beta Gamma Sigma: Doreen Castle
                                                  Freda Russell Rayburn Undergraduate: Brianna      Duncan R. Tye: Jordon McDowell Hensley
Entrepreneurial Scholar:                          Marie Mikol, Katherine Lillian Richards,
Jonathan Reagor Jeuck Young                       Kaitlyn Lorrine King                              James W. Pearce Memorial:
Entrepreneur of the Year Award:                                                                     Michael Cody McLamb
Jonathan Steve Julien
Co-Op Student of the Year: Tabitha Kristen Ashe

College of Business Congratulates Award Winners and Nominees

Western Carolina presented its top faculty        Also noted at the convocation were                - William “Bill” Richmond, CIS program
and staff awards for teaching, research           microgrant recipients Dr. Debasish                director and associate professor – Paul A. Reid
and service for the 2010-11 academic year         Banerjee, associate professor, computer           Distinguished Service Award
at its annual spring Awards Convocation           information systems; Carroll Anne Brown,
in April. The honors were announced by            assistant professor, hospitality and tourism      - Stephen Miller, assistant professor; and
WCU Chancellor John W. Bardo and Linda            management; and Jayne Elizabeth Zanglein,         James H. Ullmer, associate professor –
Seestedt-Stanford , interim provost.              associate professor, business administration      Scholarship of Teaching and Learning Award
                                                  and law.
Dr. Inhyuck “Steve” Ha was presented with                                                           - Vittal Anantatmula, MPM director and
the College of Business Board of Governors’       College of Business nominees for other            associate professor; and Frank Stephen
Creative and Innovative Teaching Award.           awards included:                                  Lockwood, ME director and associate professor
Ha serves as MBA program director and also                                                          – Jay M. Robinson eTeaching Award
is an associate professor in economics. The       - Julie Johnson-Busbin, professor – Board of
                                                  Governors’ Award for Excellence in Teaching       The College of Business would like to
Board of Governor’s Creative and Innovative
                                                                                                    congratulate all of our winners and
Teaching award is presented to a faculty
                                                  - Dona R. Potts, administrative assistant –       nominees for this academic school year.
member who shows creative and innovative
                                                  Judy H. Dowell Outstanding Support
methods in teaching.
                                                  Staff Award
Co l l eG e o f B u s i n e s s                                                                                                       the CoB | PaGe 11
faCulty hiGhliGhts

Anantatmula Speaks in India, Co-Authors with Students
                             During his recent      Larsen and Toubro, a technology-driven,           Assessment Using Radial Maps.” Project
                             visit to India, Dr.    $9.8 billion engineering company, invited         Management Journal, 42(3), 62-74.
                             Vittal Anantatmula,    Anantatmula to conduct a seminar
                             associate professor    titled “Managing Global Hydrocarbon             • Robichaud L. (2011). “Greening Project
                             and program director   Projects: Challenges and Opportunities” at        Management Practices for Sustainable
                             of the master of       Knowledge City, Baroda, on Feb. 16. More          Construction.” Journal of Management in
                             project management     than 30 senior engineering managers from          Engineering, 27(1), 48-57.
                             program, was invited   the engineering and construction division
                             to speak about         participated in the seminar.                    • Adams S. (2010). “Social and Behavioral
                             project management                                                       Influences on Project Team Process.”
                             discipline.            In his effort to support scholarly activities     Project Management Journal,
                                                    of MPM program students, Anantatmula              41(4), 89-98.
                       At PMI Pearl City            works closely with his graduating students
                       Chapter Meeting in           in their research efforts and provides          Also in MPM student news, Susan Adams,
                       Hyderabad on Jan.            guidance in publishing their research work.     who earned a 2009 master’s degree in project
21, Anantatmula delivered a talk titled             Recent publications by his students (and co-    management from WCU, won the Best
“Team Development: Behavioral Issues”               authored by Anantatmula) are:                   Paper Award at the 2010 PMI Research and
and participated in a question and answer                                                           Education Conference.
session. About 75 project management                • Steffey W.R. (2011). “International
professionals, mainly from the IT industry,           Projects Proposal Analysis: Risk
were present at the meeting.

                                                    Johnson-Busbin nominated for Top Teacher
                                                    technology, who won the award and will be       sales vice president or other contact person
                                                    presented with at the May commencement          to complete a role play in which students
                                                    ceremony.                                       play the role of a salesperson and the sales
                                                                                                    vice president plays the role of himself or
                                                    Johnson-Busbin, professor and director of       herself. All of the phone calls were recorded
                                                    the marketing program, joined the WCU           using Call Parrot. Students learned from this
                                                    faculty in 1996. She earned a bachelor’s        process by receiving feedback from the sales
                                                    degree from Southeastern Louisiana              vice president and also by critiquing their
                                                    University and a master’s degree and            own sales calls. This was an overwhelmingly
                                                    doctorate from Georgia State University, all    successful exercise, with several students
                                                    in marketing. Courses she teaches at WCU        receiving job interviews and subsequent
                                                    center on topics from professional selling to   offers from the sales vice presidents.”
                                                    principles of marketing.
                                                                                                    On making a difference: Johnson-Busbin
                                                    On teaching a tough concept: “I had             said one of her most rewarding experiences
                                                    students learn how to prospect for sales        was working with Scott Whatley, a student
                                                    leads by researching and developing a list      she helped place in his first job. Whatley,
                                                    of the top 10 companies, normally Fortune       now vice president of sales for E*Trade
The College of Business is proud to recognize       500, they want to work for upon graduation.     Financial, commended Johnson-Busbin
faculty member Julie Johnson-Busbin, who            The next critical step in the sales process     for helping her students understand the
was one of three Nominees from Western              was to ‘cold call’ and gain access to VITO,     “real world,” connecting them with
Carolina University for the Board of                the Very Important Top Officer. They            Fortune 500 companies and supporting
Governors Award for Excellence in Teaching.         called corporate headquarters, established      them after graduation.
Other nominees were L. Alvin Malesky                rapport with gatekeepers and attempted
Jr., associate professor of psychology, and         to gain access to the sales vice president.
Aaron K. Ball, professor of engineering and         Students set ‘sales appointments’ with the

Co l l eG e o f B u s i n e s s                                                                                                 the CoB | PaGe 12
Commercial Real Estate Market Stresses Continue
in an Economic Recession | By dr. Robert J. lahm Jr.
Dr. Robert Lahm recently presented a            regarding the value of assets of any kind, a      were made to millions of less sophisticated
paper entitled “Commercial Real Estate          retraction of credit availability to consumers    borrowers (or at least borrowers with less
Market Stresses Continue in an Economic         and businesses – adversely impacting              leverage given the relative size of their
Recession” at the Academic and Business         entrepreneurial growth and development,           individual loans as compared to typical
Research Institute 2011 Annual Conference       and finally employment.                           commercial loans) complicates the severity
in Nashville, Tenn. Dr. Charles Stowe                                                             for those homeowners.
(formerly dean at Lander University in          Certainly one of the mitigating factors in
Greenwood, S.C.) and Patrick Geho, state        the commercial real estate industry is that       The tenants in commercial real estate
executive director of the Tennessee Small       most of the key players are professionals         developments, whether retailers, financial
Business Development Centers, served as         who have a long-term approach to the              institutions, occupants of office complexes
second and third authors, respectively.         challenges facing the industry. Whereas           or wholesalers (to name few), simply present
                                                a single homeowner facing a default               situations where the stakes may be far
The landscape of the commercial real estate     has little negotiating power with large           higher than they are with borrowers who
(CRE) industry reveals a highly diverse         financial institutions, the sheer magnitude       obtained home loans. This does not mean
set of economic realities where there are       of commercial developments makes                  that commercial real estate tenants are not
clearly signs of improvement in the overall     financial institutions leery of pushing for       suffering financially from a soft economy,
economy which could alleviate some of           foreclosures. This may be especially true         but it does mean that they are more likely
the concerns over the reduction of value of     when corporations are tenants, no personal        to have the opportunity to work towards
commercial real estate as compared with         guarantees have been made, and there              terms that may allow the owners to avoid
the amount of debt the owners may need          is little hope of successfully piercing the       foreclosure while reducing their overhead.
to refinance during the next two years. On      corporate veil based upon an established
the other hand, there are also some ominous     legal basis for doing so (Lahm & Geho,            In the end, there are multiple perspectives
political and economic developments that        2007).                                            concerning commercial real estate. Among
could lead to another (double-dip) recession                                                      these are from the standpoint of those in the
or at the extreme to a global economic          The structure of the CRE industry and the         industry who own or manage commercial
collapse if oil supplies and prices jump too    relatively frequent need for capital even in      properties, those who underwrite loans and
high due to uncertainties in the Middle         good economic times suggests that there is        provide financing, and another is from the
East. Thus, industry as a whole continues       a mutuality of interests between financial        standpoint of the tenant/lessee. Then there
to be threatened by market stresses in an       institutions and their commercial borrowers       are the “suppliers,” in effect those who
economic recession. During the period from      to avoid foreclosure for all but the most         design, construct and provide the necessary
2004 to 2007, developers overbuilt for both     desperate developments. The most severely         materials, labor and other resources to
the U.S. housing and commercial real estate     depressed developments may require                develop properties in the first place (or
markets. Their ability to do so was in many     additional capital to convert them to some        renovate/reconfigure existing properties).
ways directly related to “easy credit” made     other use in order to realize a sufficient        Finally, governments that approve zoning
possible as lenders developed vehicles such     cash flow to support existing loans. Because      and collect taxes, as well as other parties,
as CDOs (collateralized debt obligations),      commercial real estate is considered a long-      such as occupants of buildings and
which were sold in secondary markets (and       term investment by professionally managed         stakeholders in the economy at large, are
freed up capital such that lending processes    institutions such as pension funds, insurance     either a part of or impacted by such
could be repeated). Subsequently, defaults      companies, REITs and philanthropic                market stresses.
brought foreclosures and price declines in      endowments, the comparison with the
the housing market, losses and uncertainty      residential real estate industry where loans

                                    Educational Leadership Academy Honors Lahm
                                     Dr. Robert Lahm, associate professor of entrepreneurship, Center for Entrepreneurship and
                                     Innovation, was awarded “distinguished teacher” designation from the Academy of
                                     Educational Leadership.

                                     The Academy of Educational Leadership sponsors special awards to recognize innovative and
                                     creative teachers and educational programs. To be eligible for consideration, an individual must be
                                     nominated by a member of the Allied Academies and undergo evaluation by the Teaching Awards
                                     Committee. Lahm was judged by the committee to have met the criteria and to be worthy of the
                                     designation “distinguished teacher.” The award was recently presented at the Allied Academies
                                     Spring 2011 International Conference held in Orlando, Fla.

Co l l eG e o f B u s i n e s s                                                                                                the CoB | PaGe 13

 Insights &
Series Brings State
Treasurer to Campus                                                                                   Career Fair Brings
The College of Business conducted its final
                                                                                                      Students, Employers
“Insights and Reflections” presentation for                                                           Together
the academic school year on April 26.
                                               Banking Commission, supervising the state’s            The College of Business Finance Club
Insights and Reflections is a series of four                                                          sponsored a Business Career and
                                               banking system, and serves on the boards of
presentations per academic year. Speakers                                                             Informational Fair on April 13. Grace
                                               State Education and Community Colleges.
will generally cover topics such as secrets                                                           Allen, associate professor of finance, and
to success, formation of critical thought,     Now in her ninth year of elected office,               Kenneth Flynt, associate dean, recruited
methods of achievement, and similar            and with the nation facing unprecedented               participant firms from a wide range of
processes that will advance students’          economic challenges, Cowell continues                  industries. Business students came with
thinking as they progress through their        the conservative debt practices and solid              resumes in hand and were able to talk with
college experience.                            economic development policies that keep                professionals and recruiters to discuss job
                                               North Carolina in secure financial standing.           and internship opportunities and career
The final presentation of the year, held at
                                               She is proud to serve the residents of North           paths. Firms also took resumes for future job
the University Center theater, was presented
                                               Carolina as and remains committed to                   openings or to forward to affiliates outside
by Janet Cowell, state treasurer of North
                                               working each day to build and maintain                 Western North Carolina. Lucinda Austin,
                                               a financially strong and prosperous North              employment recruiter at BB&T, emailed to
Cowell, who was elected in 2008, is the        Carolina.                                              say, “I look forward to WCU’s COB Career
state’s popularly elected 27 treasurer and                                                            Fair each year. I am always impressed with
                                               The fall series of “Insights and Reflections”          the caliber of the students and enjoy talking
is the first woman to win the post. She
                                               is slated to begin mid-September                       with them about career opportunities
oversees more than $65 billion in pension
fund investments for the 820,000 teachers,                                                            with BB&T.”.
                                               For more information, call the College of
firefighters and public employees of North     Business at 828-227-7401.
Carolina. She is the chair of the State

                                               Forest City resident to graduate at age 18
                                               At an age when many young people are preparing to go to college, 18-year-old Brittany Amber
                                               Nicole Burke is getting ready to participate in commencement at Western Carolina University
                                               and receive her bachelor’s degree.

                                               The daughter of Tim and Wendy Burke of Forest City has been completing academic
                                               requirements this spring semester to earn her degree in criminal justice with a minor in
                                               Business administration and finance. Her parents, three siblings, fiancé and extended family
                                               and friends will be in Cullowhee on the afternoon of Saturday, May 7, to watch her walk
                                               across the stage as commencement ceremonies are held for WCU’s College of Business,
                                               College of Health and Human Sciences, and the Kimmel School of Construction Management
                                               and Technology.

                                       ContaCt                         If you have an article, announcement or suggestion relating to this newsletter,
                                                                       contact Kelly Schoon at to have it included.

                                        CoRneR                         All responses will be relayed to the necessary department.

Co l l eG e o f B u s i n e s s                                                                                                the CoB | PaGe 14

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