2000 msb magazine spring summer

Georgetown

The Evolution of Business Education: From Old to New

Marketing the Common Good

Real Money Breathes Life into Graduate Investment Fund

SPRING / SUMMER 2000 volume 12 number i1Businesst h e r ob e rt e m m e t t mc d on o u g h s c ho ol of b u s i n e s s

Georgetown Business is published during the academic year by The McDonough School of Business for alumni, parents,friends, and business colleagues.

Dean Christopher P. Puto, Ph.D.

Senior Associate DeanJohn Mayo, Ph.D.

Editor Elizabeth Shine g’99

Contributing Writers Kenneth Starr mba’00Bindu Vaswani b’00Lynn Cothern CritesSusan Price

Designer Nancy Van Meter

Photographer Keith Tishken

Georgetown Businesswelcomes inquiries, updates,opinions and comments expressedby its readers. Letters should beaddressed to:

the editorGeorgetown BusinessDean’s OfficeGeorgetown UniversityThe McDonough School of BusinessOld North BuildingWashington DC 20057

phone: 202-687-4080

www.msb.edu

WEL

CO

ME

LETTER FROM THE DEAN

The dynamic nature of business — and business education — lends itself naturally to

quantifying results. But to get meaningful results, leaders need to reflect on the state of

their industry, what they perceive the future to be, and how they are going to get there.

In the past year, I have given much thought to where we are and where we are

headed. To become the leading business school I envision requires shaping curricula to meet

the needs of the Information Age, recruiting diverse and talented faculty, students and staff,

and building a facility to house the Mc Donough School of Business.

My senior administrators have brought their own expertise to bear as we map out

the strategy to achieve these goals. In this issue, Larry Abeln, associate dean of graduate

programs, draws on his experience here and as director of MBA programs at the Mass-

achusetts Institute of Technology’s Sloan School of Management to predict what the future

of graduate business education may hold. Increasing globalization is one factor Larry points

to; this spring, the MBA Class of 2000 was the first to participate in the

overseas integrative section of the new MBA curriculum (see page 6).

We are also shaping the future of undergraduate business education. You will read

about the recommendations made by the undergraduate task force to make the curriculum

and our graduates competitive in the global marketplace.

Part of reshaping curricula at both the undergraduate and graduate levels involves

offering courses that are not only relevant but are cutting edge. This issue’s faculty forum

focuses on a new McDonough School MBA course that explores the impact of the Internet

on new product development and marketing.

Students are playing a vital role in helping to elevate our programs. With the help of

the McDonough School Board of Advisors, our MBAs have secured money for the Graduate

Investment Fund to invest. This is a testimony to the ambition and determination that drives

our MBAs to achieve.

From social marketing to diplomacy to dot.coms, our alumni continue to be our best

ambassadors — literally and figuratively. Their involvement is a key catalyst in our equation

of the future.

We have taken the measure of where we are. We know that the future will be driv-

en by the forces that shape business, technology and globalization foremost among them.

But our ability to get from where we are to where we would like to be lies in the heart of

the Georgetown McDonough School experience — people. ❧

Christopher P. Puto, Ph.D.

Dean

1

CONTENTS

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

The Evolution of Business Education: From Old Economy to New . . . . . . . . . . . 6

Marketing the Common Good. . . 13

Real Money Breathes Life intoGraduate Investment Fund. . . . . . 14

Curriculum Revisions Make Undergraduate Business Majormore Rigorous, Relevant . . . . . . . 21

Alumni Notes. . . . . . . . . . . . . . . . . 31

CTA’s volunteer director. Thisyear, a total of 300 volunteers— CPAs, lawyers, and students— provided services to about1600 people at 12 locations inthe metro area.

“Georgetown volunteersallow us to help more taxpay-ers,” says Jeff Gold, CTA’sWashington chair. “Becausemost of these taxpayers receiverefunds, hundreds of thousandsof dollars are returned to thecommunity.”

Melissa Cosgrove (B’02), anaccounting and finance major,helped 13 taxpayers this season.She initially volunteered toenhance her resume, butbelieves using her skills to havea positive impact on those inneed was the rewarding part ofthe experience.

“People really depended onus,” she says. “We found a lotof ways to help people get taxcredits on their small amountof income. It was really great tobe able to help.”

MicroStrategy CEOAddresses Georgetown MBA Tech 2000 Conference

In his keynote address tothe Georgetown MBATechnology Conference 2000,MicroStrategy CEO MichaelJ. Saylor advised MBAs to“mak[e] money creating newvalues from intelligence thathas never existed before.”

Saylor spoke aboutMicroStrategy’s success inbecoming a market leader indecision support systems, asophisticated datamining tech-nology that allows companiesto accurately predict consumers’behavior, to illustrate how tech-nology will change business inthe next decade.

Held on January 21, MBATech 2000 was the third annualstudent-run conference tobring industry leaders toGeorgetown’s campus to dis-cuss the latest trends in thetechnology industry.

Following Saylor’s address,two panel sessions examinedfunctional areas shaping theindustry — marketing, consult-ing, finance, entrepreneurship,interactive media, technologyin emerging markets, telecom-munications and e-business.Panelists included representa-tives from Microsoft, AOL-International, GE Information

Volunteers Redefine Tax Break

This tax season, for the thirteenth year running,accounting and finance stu-dents volunteered their skills forD.C. Community Tax Aid(CTA), Inc., an all-volunteer,not-for-profit organization thatprovides no-cost tax services for residents withincomes under $20,000.

“Volunteering is a terrificway to put our accounting andtax knowledge to use to helppeople in strained circum-stances,” says ChristinaNystrom (B’00), an officer withGeorgetown’s McDonoughSchool’s Accounting Society.

D.C. Community Tax Aidprovides volunteers with a fullday of training that covers 1040preparation and interviewingtechniques. Thirteen businessschool students fromGeorgetown provided almost90 hours of service this tax sea-son, according to Teresa Hinze,

2 The McDonough School of Business

Inside Information

Services, Cyveillance, UUNET,and American Management Systems.

“MBA Tech 2000 is a wayfor the business school to pro-mote Georgetown as a willinginstitutional partner with the high-tech corridor,” saysassociate dean of graduate programs Larry Abeln.

The conference reflects a growing interest byGeorgetown MBA students inbecoming technology entrepre-neurs. Headlight.com, an e-commerce site that sells units oflearning via the Internet, wasstarted by Scott Mitic andPeter Mellen (both MBA’98)while enrolled in Georgetown’sMBA program.

Pangea Limited, an alterna-tive fiber-optic networkprovider, was developed by ateam of Class of 1999 MBAsas a business plan for an entre-preneurship class. Since gradu-ation, the student team hasraised $450 million in equityfinancing for this project. JeffSomerville and Gino Heilizer(both MBA’99) startedwww.stockgift.com, a websitethat allows individuals to cal-culate the gift value of stocks,during their second year of theMBA program.

IADB Official Addresses Technology’s Impact on Emerging Markets

At Georgetown McDonough School’s Emerging MarketsConference on February 11, Charles Sethness, chief financial officerof the Inter-American Development Bank (IADB), spoke of theprofound impact the technology revolution is having on emergingmarket countries and the importance of stable institutions for dealingwith these changes.

“The world is shrinking towards becoming a single market formoney, goods, services and ideas more quickly than governments cancope,” said Sethness. “A shrinking world brought together by theInternet revolution will be intolerant of dual or multiple standards inthe way markets operate and the way they are governed.”

The bank works with 28 Latin American and Caribbean coun-tries to further economic and social development.

Organized by Georgetown’s MBA International EconomicDevelopment Network, the annual conference is co-sponsored by theBlack MBA Association, Inter-American Business Association, andEuropean Business Association.

“We want to create a dialogue for students with practitioners whocan give them a real-world account of how they’d handle certain situ-ations,” said Eric Main (MBA’00), network vice president. “We alsowant students to see how their interests might fit a particular careerpath.”

Students also gained insights from panelists, including executivesfrom PricewaterhouseCoopers, Andersen Consulting, Morgan

Stanley Dean Witter,Goldman Sachs, MCIWorldCom, LucentTechnologies, CNGInternational, and NextelCommunications.

Students raised such top-ics as Southeast Asia’s recovery from its financial crisis and the devel-opment of telecommunications infrastructure in China and otheremerging markets.

The conference attracted 200 participants including studentsfrom Georgetown’s schools of public policy, law, and foreign service.MBA students from American University and George WashingtonUniversity also were invited.

MBA Program Fares Well in Annual Rankings

Georgetown’s McDon-ough School of Business occupied high spots again thisyear in rankings of graduatebusiness schools.

In the Financial Times rank-ing of 75 MBA programsworldwide, which was releasedon January 24, the McDon-ough School MBA programranks as 28th, up from 32ndlast year.

The ranking also listed thetop ten schools in various cate-gories. In two of the categories,salaries in finance and salariesin information technology,McDonough MBAs rankedfourth and sixth respectively.

Writing about investmentbankers’ salaries, FinancialTimes business educationreporter Della Bradshaw noted,“At Harvard, the 43 respon-dents reported an average salaryof $223,100, closely followedby the Sloan School at MIT,the McDonough School atGeorgetown University, andWharton at the University ofPennsylvania, where alumniearn an average of more than$200,000.”

3Spring / Summer 2000

“Our ranking in the FinancialTimes highlights the valueof a McDonough MBA in themarketplace and the respectthe MBA program commands

internationally,” says DeanChristopher Puto.

In the U.S. News & WorldReport MBA program rank-ing, which hit newsstands April 3, the McDonoughSchool ranked 29th, downthree places from last year. Itremains in the ninetieth per-centile of American MBA programs. The program wasranked 12th this year in thespecialty area of internationalbusiness.

As much as possible, Della-Ratta pulls in alumni who havelanded jobs at these companies.“They’re fun and can describehow their studies shaped theircareer paths,”she says.

Cheryl Opell (MBA’99),manager of reporting andanalysis for interactive market-ing finance at AOL, gave apresentation with colleague JeffSunshine (MBA’99) aboutcareer opportunities at thecompany. Surprised to find apacked house of about 100 stu-dents, Opell noted that therewas nothing comparable toCyber Café when she was astudent. “Getting to knowalumni who do what you wantto do in a company you wantto work for is the best way inthe door,” Opell says.

CEOs, Secretaries AddressMcDonough Graduates

AU.S. Treasury official,the founder of a trio of billion-dollar companies, and the headof the National Association ofSecurities Dealers (NASD)were this spring’s McDonoughSchool commencement speak-ers.

In his address to MBAgraduates on May 26, DeputyTreasury Secretary StuartEizenstat called for an openglobal market. “As countriesopen their economies, the needincreases for a stronger rule oflaw,” noted Eizenstat.“Ultimately, this strengthensdomestic forces and improveshuman rights.”

Jonathan Ledecky, whospoke at the Executive MBAgraduation ceremony April 29,used his credit cards to financehis first company, U.S. OfficeProducts in 1994. Sales grew to$4 billion within three years.Two other businesses hefounded, U.S.A. FloralProducts and Building OneServices, leaped to $1 billion insales their first years.

MBAs Network to Technology Careers

This spring, MBAs andmembers of the local high-techindustry networked on Tuesdayevenings through Cyber Café,an initiative by MBA CareerManagement (MBACM) thatbrings representatives fromcompanies such as AmericaOnLine (AOL), LifeMinders.com, Bigdough.com, and Teli-gent to discuss careers in theindustry in an informal setting.

Seeking to match MBAsbusiness skills to the large num-ber of local growing high-techfirms, Cyber Café is a “win-winsituation for both companiesand students,” notes Toni Della-Ratta, MBACM associatedirector. “A number of studentshave gotten jobs from meetingcompany reps at Cyber Café.”


Ledecky — co-owner of theNHL Washington Capitals, theNBA Wizards and the WNBAMystics — is an active volun-teer and fundraiser for manygroups supporting inner-cityyouth.

On May 27, undergraduatesheard Frank G. Zarb,who became NASD chairmanin 1997. Previously, he headedAlexander & Alexander, a glob-al management consulting firm,and the Smith Barney invest-ment firm, where he oversawrecord financial performances.

Zarb also served in variousassignments with the Nixon,Ford, Reagan, Bush andClinton administrations. Hewas the government’s seniorofficial on energy-related activi-ties (the “energy czar”) from1974 through 1977. HofstraUniversity’s business school isnamed for Zarb, an alumnus.

Inside Information

New York Federal Reserve Bank President Among Leaders Addressing CMRC

William J. McDonough, president of the Federal ReserveBank of New York (FRBNY), addressed the Capital MarketsResearch Center (CMRC) on central banking and crisis manage-ment February 2.

McDonough noted that improved fiscal and monetary policy byboth political parties since the mid-1980s has enabled the Americanprivate sector to increase productivity, a major factor in the success ofthe recent U.S. economy.

Yet McDonough warned against seeking formulas for continuingeconomic success. “If there is anything the Fed can be proud of overthe recent years, it is that we have understood the most importantconcept of public policy,” he noted. “We know what we do notknow. We have some ideas, but we do not fully understand why theeconomy is behaving so well...[or] how long it will continue.”

Lloyd Campbell (B’79), managing director of Credit Suisse FirstBoston, was the keynote speaker at a March 24 CMRC seminar to kick off the Iowa Electronic Markets (IEM) Inter-Disciplinary Educational Alliance Conference. The conference, heldat Georgetown, introduced minority faculty and students to IEM, areal money, computerized futures market operated as a not-for-prof-it teaching and research tool by the University of Iowa Tippie College of Business.

Speaking about minority representation in the financial industry,Campbell observed that “diversity cannot be force-fed. It needs to berecognized and it needs to be valued.” Campbell noted that whileperformance and hard work are key in succeeding on Wall Street,identifying and cultivating candidates early in their careers is vital.

Other notables who have addressed CMRC’s seminars this yearare E. Gerald Corrigan, Goldman, Sachs’ chair of international advi-sors and former FRBNY president, and Ira Millstein, senior partnerin the New York-based international law firm of Weil, Gotshal &Manges LLP.


The Evolution of Business Education

From Old Economy to New By Lawrence S. Abeln

As associate dean and director of graduatebusiness programs at Georgetown’s McDonough School of Business, and previously as director of the MBA program at the Massachusetts Institute of Technology Sloan School of Management, I have witnessed first-hand thesignificant changes in graduate business education in the last six years. Indeed,the Sloan School affected some of these changes with an online registration and application system, implementation of career management tracks as part ofthe MBA curriculum, a reduced, one-semester required core and the introduc-tion of alumni career services.

As we continue to make Georgetown’sMcDonough School graduate academic programs preeminent and responsiveto the needs of the marketplace, I try to envision how we might prepare forthat future now. Following are some perspectives shaped by my experiences and what I believe the future of business education may hold.


History and Growth of GraduateBusiness Education

Nearly 100 years ago, few Americanuniversities considered business edu-

cation part of their academic mission. In1901, Dartmouth awarded the first gradu-ate degree in business. Harvard andWharton joined as institutional pioneersand others in the Ivy League followed. Bythe midpoint of the century, althoughmany institutions had begun offering busi-ness programs at the undergraduate level,graduate business education remained anexception. Only 4,500 MBA degrees intotal were awarded annually across all U.S.schools by 1955.

Graduate business education was con-centrated among a few elite schools, had alimited research focus and lacked standardsof accreditation. To some, it was practicalexperience rather than advanced educationwhich brought success in industry; corpo-rate leadership was viewed as innate ratherthan a learned skill.

In 1958, the American Assembly ofCollegiate Schools of Business (AACSB)developed standards for the MBA andemphasized curricular standardizationacross institutions. This resulted in greateruniformity in course content, althoughmethodology of teaching (cases and lec-ture) varied widely across programs.

During the 1960s, the FordFoundation contributed $35 million toimprove the intellectual climate of graduatebusiness education and more Americanuniversities recognized the beneficialimpact of a research base focused on man-agement education.

From 1955 to 2000, the number ofMBAs awarded annually grew twenty-fold,from 4,500 to over 100,000 degrees withinthe U.S. This historic growth and accept-ance of the degree in the U.S. brought itinternational recognition. Traditional inter-national academic powers like Oxford andCambridge added MBA degree programsduring the 1990’s. Georgetown’s MBAprogram began in 1981.

The growth in MBA education wasinextricably linked to both economicexpansion and the complexities it pro-duced, which required effective organiza-tional leadership and competence. Theforces of economic growth and a rapidlychanging business climate required profes-sional managers equipped with analyticalcapacities, team skills, technical abilities,

and quantitative tools. Hence, both experi-ence and advanced education becameviewed as complementary towards successin an environment of change and as afoundation for the development of corpo-rate leadership.

This change was brought about bysuch factors as global competition, techno-logical advancements and innovation, cor-porate downsizing, total quality manage-ment, quantitative financial modeling,mergers and acquisitions, changing behav-ior of consumers, transition to a serviceeconomy and increased demands for quali-ty and efficiency. Managing amidst thesecomplexities required leaders with a theo-retical and structural framework, which anMBA could provide.

Current State of Graduate


Business Education

For candidates continuing their profes-sional education, the MBA can serve

as a vehicle to advance within their organi-zations and allow others desiring a careertransition to repackage themselves intoanother career. Until twenty years ago,many candidates entered MBA programswith little work experience. By the mid-1980s, the average entering age prior toenrollment increased significantly. Amongthe top-ranked schools, candidates nowenter with over four years of work experi-ence and at an average of age 27.

There is also an increased percentageof minorities, women and internationalstudents enrolled in MBA programs, whichhas added to the diversity and breadth ofthe classroom experience, and more accu-rately reflects the multicultural workplacetoday. For instance, the MBA program’srecent entering class at Georgetown’sMcDonough School was 35 percent femaleand 41 percent international.

Candidates for admission are primarilyevaluated based upon the extent and quali-ty of their work experience, and their aca-demic performance as demonstratedthrough their undergraduate record and thestandardized Graduate ManagementAdmissions Test (GMAT) examination.The average GMAT at Georgetown’sMcDonough School MBA program, forexample, is over 650 and the average gradepoint average is 3.4 this year.

As the average age of candidatesincreased, many business schools revampedtheir MBA curricula to respond to a student

population that had been immersed inindustry for several years, and wanted agreater link between theory in the class-room and practical application. Schoolsresponded to the rapidly changing market-place by incorporating both industry trendsand recruiter needs into their programs.

Three integral forces have impactedthe current state of business education.Among these have been: (1) curriculumreform; (2) increased options and programsfor candidates to pursue the MBA; and (3)intense competition among a group of fiftyschools desiring to be among the top twen-ty MBA programs for resources, research,faculty, students and facilities.

First, almost all of the leading pro-grams have revamped their curricula in thelast five years. These changes have includ-ed: reduced cores; expansion of electivesofferings; creation of concentrations and‘career tracks’; opportunities for students toindividualize a course of study; modules ofshorter length courses; multidisciplinaryapproaches with integration among thecore courses; increased correlation betweenacademic programs and career placementfunctions; and introduction of new aca-demic areas of study such as electroniccommerce, entrepreneurship, and financialengineering.

Georgetown’s McDonough SchoolMBA Class of 2000 recently was the firstclass to complete the new graduate curricu-lum, which was instituted in fall 1998. Thechanges included movement to a modularsystem of six-week semester courses; fiveweek-long integrative experiences over thetwo years aimed to integrate the core disci-plines; a decision sciences selective tostrengthen the quantitative skills; an over-seas residency and completion of a teamconsulting project with a foreign company.

Georgetown’s McDonough School ofBusiness is one of the few schools torequire every MBA to participate in anoverseas residency. The new curriculumallows students to be exposed to finance,marketing, and operations in the fallsemester, providing them with greaterpreparation for their summer internships.

Second, educational institutions inEurope and Asia have challenged the U.S.monopoly and dominance of MBA educa-tion. Competition from London BusinessSchool, IESE and ESADE in Spain,Rotterdam in the Netherlands, Insead andEssec in France, SDA Boccini in Italy,IMD in Switzerland, and Oxford andCambridge among others have providedcandidates with many more options as towhere and how to pursue their degrees.Business schools have also emerged inCentral and Eastern Europe, and in theformer Soviet Union. As a correlation tothe AACSB, Europe developed its ownaccreditation process — Equis — whichdemands certain common standards inprogram requirements.


Recognizing the international compe-tition, as well as the expanded MBA mar-ket, many U.S. business schools have part-nered with foreign institutions to createsatellite operations in both Europe andAsia. Some examples are the University ofChicago in Spain, Case Western inHungary, and Babson in China. Duke’sGlobal program provides a residential com-ponent across four continents.

MIT’s Sloan School initiated pro-grams in Singapore and China to train fac-ulty members to teach in local MBA pro-grams. The Indian School of Business(ISB) plans to open in 2001 with the helpof U.S. partner institutions and will allowstudents to sit in on lectures broadcast fromthe Wharton and Kellogg schools.

Third, as foreign institutions haveadded the MBA to their portfolio ofdegree programs, competition among manyU.S. business schools has increased for thetop candidates, faculty, research, facilities,recruiters, and overall resources. Mediarankings have also fueled this competitionamong national schools and regionalschools with ambitions to build a nationalreputation.

Both BusinessWeek and U.S. News andWorld Report, two benchmark rankings ofU.S. business schools which do not includeforeign institutions in their compilations,have been challenged recently by theFinancial Times, which ranks the top 75international programs. Forbes has alsojoined the ratings game; The Wall StreetJournal is soon to follow.

To attract top students, businessschools have been building up their facili-ties and investing in prime campus real

estate to attract and retain quality facultyand students. Boston University spent over$100 million to construct its new businessschool facility on the Charles River twoyears ago; Wharton will spend over $100million on a new facility to be opened nextyear; Stanford completed a residential facil-ity in 1999 to house its MBA students.Last year, Georgetown McDonoughSchool’s MBA program renovated the CarBarn as a first step towards a new, 200,000square foot facility to be located on themain campus at an approximate cost of $60million.

To further increase student satisfactionwhile enrolled, schools have invested instudent, alumni and recruiter servicesincluding online registration, computinglaboratories, website redesign and imple-mentation, alumni career management,interview rooms, student lounges and evensimulated trading rooms. These improve-ments across the programs are aimed tocreate a professional environment wherestudents perceive value and high quality.

With nearly 400 AACSB accreditedschools and with full-time, part-time,weekend options, and foreign institutionsexpanding into the market for the 100,000MBA degrees awarded annually, competi-tion among schools will continue toincrease and will challenge the traditionaldominance of leaders such as Harvard,Stanford, and Wharton.

The Future of Graduate Business Education

Business schools are now major forceswithin universities. In addition to the

100,000 MBAs awarded annually, nearly25 percent of undergraduates in the U.S.are majoring in business. The MBA as aprofessional degree program is now theequivalent of legal and medical education.Graduate business programs are now stan-dard in universities’ portfolios of graduatedegree programs that enhance an institu-tion’s overall reputation.

Cross-functional disciplines can devel-op between MBA programs and graduateprograms in engineering, science, arts andhumanities. For instance, business andmedical schools can integrate facultyexpertise in healthcare management; lawand business schools can combine expertisein taxation, antitrust regulations and bank-ruptcy. Georgetown’s McDonough SchoolMBA program currently enrolls over 30students in joint degree programs, includ-ing those in law, medicine and foreignservice.

Candidates will continue to view theMBA as a path to success and financialrewards. Graduates from the top programsoften triple their salary upon graduation.The average starting salary at the top tenschools in U.S. News and World Report isover $90,000 annually and many graduatesreceived signing bonuses of $25,000. Post-MBA earnings have also soared. Threeyears after graduation, Harvard MBAsearn an average salary approaching

$175,000.1


Business education in the future willbe even more responsive to the constituentsit serves, in particular applicants, students,alumni, recruiters and corporate sponsors.As the labor market expands to be moreinclusive of women and minorities in cor-porate leadership positions, MBA enroll-ment will become more diversified. Theuniversity will continue to see the benefitsof partnership with industry for researchcollaboration, career placement opportuni-ties for students and delivery of executiveeducation programs.

The website, rather than the tradition-al MBA brochure, has become the “frontdoor” to MBA programs. Many businessschools have sought to build an electroniccommunity and made it easier for candi-dates to submit and even check the statusof their application online. Throughwww.embark.com, applicants toGeorgetown’s McDonough School MBAprogram can submit an electronic applica-tion.

At the leading MBA programs,including Georgetown’s McDonoughSchool, students register for courses elec-tronically, drop and add them online andcheck their grades with their personal iden-

tification numbers from the web.The MBA curriculum cannot ignore

the influences of technology, the globalnetwork, and new academic areas such aselectronic commerce, entrepreneurship andfinancial engineering. These new areasrequire the development of an academicframework and structure for learning aswell as in some cases new teachingmethodologies. Technology has allowed thedelivery of academic content through casesand lectures to be complemented with sim-ulation exercises and experiential learning.

A number of business schools, includ-ing Vanderbilt, Wharton and MIT, haveadded formal e-commerce concentrationsas part of their MBA curricula. Althoughe-commerce majors are all the rage now,many schools say they will fade eventually,as the Internet becomes “a natural way ofdoing business as the telephone.” 2 TheInternet and web-related content will beincorporated into all of the traditional coredisciplines from strategy to marketing toeconomics and finance rather than exist asa separate academic discipline.

It is not possible for the computer tosolely replace interaction between studentsand faculty members on campus. But thefull-time traditional model has alreadybeen challenged by part-time and weekendprograms and distance learning options. Isthere an alternative?

There is. It is possible to achieve ahybrid, one that could be achieved byreplacing the traditional model of a two-year full-time on-campus degree programwith a combination of on-campus and vir-tual learning. The four-semester residentialformat adopted and maintained by the top-ranked schools could be replaced with atwo-semester on-campus/two-semester vir-tual model.

The model would include a commit-ment on the part of the business school todeliver continuing education, life-longlearning to its alumni as well. It could alsoresult in more partnerships between U.S.programs and international institutions todeliver the academic content and enrichthe MBA experience through exposure todifferent perspectives.

Why not just a purely virtual MBA? Avirtual episode cannot replace classroomlearning. The MBA is a whole experiencerather than an accumulation of credits; itinvolves team-based learning in cohorts;networking; participation in student cluborganizations; recruiting and placementactivities. Preparing students to succeed inbusiness requires the dynamic of humaninteraction. ❧

1 Parminder Bahra, “The Rankings: Analyzing theFacts and Figures” Financial Times, 11 Feb. 2000, U.S.ed., Business Education sec.: ii.2 Miriam Hill, “More Business Schools Are Turningto E-Commerce” The Philadelphia Inquirer, 6 Mar.2000: A5


More companies are partneringwith charities in joint market-ing initiatives known as cause

marketing efforts. Whether it’s Starbucksand literacy causes, or Denny’s Restaurantsand Save The Children, these marketingpartnerships are at their best, strategically-based, win-win collaborative efforts, and attheir worst, short-term promotionalschemes. While it is difficult to assess thisincreasingly complex arena in a few words,as a marketer in the non-profit arena, Ioffer a few observations.

As consumers get exposed tomore of these promotions, theyare becoming more savvy as towhich ones are truly making adifference. While we’d like tothink that caring hearts alonehave brought many a company tocause marketing, it’s clear thatcause marketing is good businesswhen used properly. As the quali-ty differences in many packagedgoods continue to shrink and asprivate label brands grow, manymarketers are increasingly drawnto values-based marketing to saysomething more about what they stand forand to forge an emotional bond with con-sumers.

However, my overall sense is thatincreased cause marketing efforts are bene-ficial for several reasons. First, they increasecorporate awareness of the need to giveback to society. Second, it can increaseemployee awareness and involvement

in charitable causes.Third, effective causemarketing programs can assist charitableorganizations in getting their message outto consumers.

Long before cause marketing was invogue, actor Paul Newman founded a littlefood company called Newman’s Own, withthe introduction of his “kick-in-the-der-riere” salad dressing. He donated all theprofits to charity and introduced only allnatural “no-nonsense” foods. According toPaul, the company was started as a “joke

and just got out of hand.” Nearly 20 yearslater, this little joke produces approximately$100 million in annual sales and has fueledcharitable contributions of over $100 mil-lion to over 1,000 different charities.

Is Newman’s Own cause marketing?Well, not exactly. Newman’s Own is unique in that it is the only national con-sumer products company that is in bus-iness entirely for charity. We start the yearwith only minimal working capital fundsand accumulate profits as we sell productsduring the year. Then Paul sits down at the

end of the year and gives away all profitsafter taxes. We try to keep our overheadlow. Most consumers buy our productsbecause of the quality of our foods. Manyknow that some of the profits go to charity;few know that all profits go to charity.While we are working to increase consumerawareness of the charity message, we con-tinue to lead with the food. By the way, ournew Family Recipe Italian salad dressing isdelicious (“shameless” plug!).

Several elements of my Georgetownexperience continue to be valuableto me as I attempt to market forthe common good. First, the gen-eral management approach anddiverse student body fostered flex-ibility in management style.Second, the focus on businessethics raised my awareness thatbusiness decisions are measuredby criteria other than those on theincome statement. Third, theGeorgetown culture fostered amindset that service matters. Iapplaud the fine work of work ofProfessor Alan Andreasen, who

recently established the SocialMarketing Institute*, in strengtheningGeorgetown’s position in this importantarea of study. ❧

Michael Havard is vice president of marketingand public relations for Newman’s Own, Inc.

* The Social Marketing Institute draws partnersfrom the corporate and non-profit arenas to addresssocial problems through marketing.

Marketing The Common GoodBy Michael Havard (MBA’89)


Is an investment fund an investmentfund if it lacks real cash? Not in RachelCain or Joshua Slater’s (both MBA’00)

minds. Upon being elected in December1998 as co-chairs of the GeorgetownMcDonough School’s Graduate InvestmentFund (GIF), their goal was to put teeth inthe fund by securing real money to manage.The fund is a subcommittee of theGraduate Finance Club and has been apaper fund since 1997.

They succeeded. In March, theMcDonough School’s Board of Advisorssecured $150,000 of GeorgetownUniversity’s endowment for GIF to man-age. In addition, several board membershave donated to the fund.

“There’s a different tension that goeswith managing real money, and it’s ahealthy tension,” says C. Allen Merritt(B’62), chief operating officer of the LibertyFinancial Companies, Inc., and aMcDonough School board member. “Itchanges the characteristics of the groupactivity.”

Cain and Slater both worked as assetmanagers before they entered the McDon-ough School’s MBA program. Cain workedat Sanford C. Bernstein and Co., Slater atU.S. Trust. Working with GIF members,Cain and Slater drafted a prospectus andtook their proposal to McDonough Schooldean Christopher Puto.

“We wanted to secure real funds forstudents to manage,” says Cain. Thanks totheir efforts, GIF is one of the most activeand rapidly growing student groups in theMBA program, with 37 members. They aresucceeded by new co-chairs Sami Al-Bashirand Mark Markowski (both MBA’01). Al-Bashir and Markowski also bring real-world portfolio management experience tothe fund.

Since receiving the $150,000, GIF hasinvested approximately one-third of thefunds in stocks such as Citigroup, Xilinx,Worldcom, Enron, Johnson & Johnson,Cisco, and MBNA America. The GIFmembers plan to allocate 40 percent ofassets to technology and telecommunica-tions; 18 percent to financial services andreal estate; 17 percent to health and bio-technology; 13 percent to energy, chemicals,and raw materials; and 12 percent to basicindustry and consumer products.

International stocks are also an area ofstrong interest. Fund analysts are examiningthe American Depository Receipts’ foreigncompanies (such as British Petroleum) thatare listed on the American stock exchangesas possible investment vehicles. The fund isinvested in equities only, no bonds. “We’rekeeping the fund in equities because theyare more high-profile and easier to manage,“says Al-Bashir.

Student-run investment funds have areputation for being aggressively managed,but Cain emphasizes the fund’s conservativeapproach. “We have focused on internation-al stocks with long-term growth potentialand we benchmark against the MorganStanley Composite Index (MSCI),” saysCain. The MSCI is considered the bestindicator of world composite equity bench-marking.

The GIF portfolio has done well onpaper, but with only a third of the $150,000invested, this year’s co-chairs are cautious inmaking claims so early in the game. “We’vebeen beating the MSCI and the NASDAQon paper since GIF’s inception, and we’rebeating 99.5 percent of portfolio managers,but we’ve only had the assets under man-agement for 60 days, so it’s too soon to tell,”says Markowski. “The main thing is learn-ing how to analyze companies and managea portfolio.”

During the year and a half that stu-dents pitched the idea of real money for thefund, the market was high. Just when theyhad money to invest, the stock marketdipped. But this has not unnerved GIFmembers. As Cain notes, “we stayed righton target with the MSCI. We were diversi-fied and weren’t out of step at all.”

The GIF board annually conductsinterviews to select two co-chairs, a headof research, head of compliance, head oftrading, and two officers for internal and

Real Money Breathes Life into Graduate Investment Fund

“There’s a different tension that

goes with managing real money,

and it’s a healthy tension.

It changes the characteristics

of the group activity.”

C. Allen Merritt, Jr. (B’62)

Chief Operating Officer

Liberty Financial Companies, Inc.

external communications. Four regionaland five industry analysts present marketresearch and proposals for investments atweekly board meetings. The studentsdefend their financial positions twice ayear before the McDonough School Boardof Advisors and are directly accountable tothe board and Dean Christopher Puto.

Whether a fund is student-run orcorporate, the skill sets required for successare the same. “We have responsibility forfinancial decisions and for performing duediligence in line with the fund’s objectivesand time horizons,” says Cain. “We haveto sort through contradictory sources ofinformation to make decisions.”

Ultimately, GIF has its sights set onmore than financial returns. The fund’sgoals for the upcoming year are toimprove GIF’s public profile, recruit morestudents, invite alumni in the financialindustry to speak on portfolio manage-ment and market analysis, and use thefund to promote the MBA program toprospective students and corporaterecruiters. “We want to provide a forumfor ideas about the market and leveragethe knowledge of the whole community— alumni, students, and faculty,” Al-Bashir says. ❧ Lynn Cothern

“Once there is real money on the line,

everyone takes the investment fund

much more seriously. For the students,

the responsibility they have undertaken

is very tangible. This level of commitment

creates a much more powerful learning

experience than simply managing

a phantom portfolio.”

Gary Blemaster

Professor and former managing director,

investment banking, Merrill Lynch


(Left to Right) graduate investment Fund leaders Joshua Slater (MBA ‘00), Sami Al-Bashir (MBA ‘01),

Mark Markowski (MBA ‘01), and Rachel Cain (MBA ‘00)


FacultyFORUM

Teaching Internet Product DevelopmentBy Robert J. Thomas

In the early 1990’s, increased awarenessof the Internet led many firms todevelop Web pages for their cus-

tomers. However, few attempts were madeto capitalize on the Internet’s interactivity.

The emergence of Amazon.com andother dot.com firms changed the way peo-ple used the Internet. The possibility ofaccessing millions of customers onlinemeant that traditional product develop-ment activities would never be the same.With this in mind, I developed an experi-mental MBA course, Internet ProductDevelopment, this spring.

The Problem with Traditional NewProduct Development

Statistics suggest that anywhere from 40percent to 90 percent of new products fail.Although improved business processeshave increased the success rate somewhat,the odds aren’t much better than flipping acoin. To deal with this, firms have focusedon speeding the process of developmentand increasing interaction with consumersin the hope of defining products withsuperior competitive advantage.

But even with an emphasis on astreamlined development process, topmanagers will still question the findings.Given the risks and failure rates of newproducts, managers always have naggingquestions about expected customerresponse to a new product or service —even in the face of positive market research results.

Enter the Internet

To teach Internet Product Developmentmeant determining how it differed fromtraditional product development in copingwith the risks of new product failure.When we use the term products here, weinclude a variety of tangible products,information products, and services for busi-ness organizations and consumers. Thus,Internet product development is not justabout Internet products, but its use inimproving the performance of all kinds ofproducts and services.

Early indications from our coursereveal that the Internet is an importanttool for reducing new product develop-ment risk. In class, we identified fourmajor Internet trends that shape the dif-ferences.● Easier Access to Communities

of Innovators

There are some 60 million Internetusers in the U.S., who can gather in a vari-ety of community formats for a few hoursor a few years. They can be anonymous oridentified in their communities, and canchat on almost any topic. Developers ofnew products can establish linkages withthese communities, or establish new com-munities to specifically respond to/ gener-ate new product ideas. This is difficult toaccomplish with customers offline.

For example, in 1998, when a productdeveloper at Texas Instruments (TI) wastrying to develop a new calculator forteaching math to high school students, hediscovered that math teachers frequentlyused chat rooms to discuss their problems.He invited the participants in these chatgroups to visit the TI website to look at aninitial version of the new calculator. Heasked for their advice in improving the

design. The response was so positive, thatthe teachers took a sense of ownership inthe new product they had helped createand wanted to know when they couldorder it for their classes. The eventualproduct was very successful.

Of course, once you put your productideas on the Internet, the competition canobserve them. Therefore, how one man-ages these communities of innovators pres-ents real decision problems for new prod-uct managers. The benefits must be bal-anced against the risks.● Faster Market Response Information

Speed is of the essence in new prod-uct development. Once a new product ideais formulated into a recognizable concept,it is often tested with a sample of potentialbuyers to get their reaction. This can takeup to three months, sometimes longer. Thedifficulty comes when a senior managerasks the relatively simple question of“What happens to sales if we change thisfeature?” This often requires another three-month concept test. Now, imagine answer-ing that question in 48 hours by using theInternet.

A variety of web-based marketresearch firms, such as HarrisInteractive.com, have recently emerged to help firmstest new product concepts in a few days onthe Internet. This is done with a represen-tative sample of consumers who areInternet users. HarrisInteractive.com canprovide a geographically diverse, nationallyrepresentative panel of consumers drawnfrom its pool of more than 6.2 millionrespondents. These customers can be sur-veyed and their responses can then beimmediately analyzed and reported back tothe client at a reasonable cost.


● Greater Interactive Capabilities

for Customization

The interactivity between buyers andsellers on the Internet provides the poten-tial of developing products specifically for asingle customer. Manufacturers of cosmet-ics, bicycles, eyewear, and other tangibleproducts are experimenting with this. Thisprocess approaches the age-old tradition ofcrafting a product for a specific customer.What makes the process economicallyviable today is flexible manufacturingequipment that can produce thousands ofitems with varying features. For example,reflect.com, a website that offers custom-ized personal care products for women, hasproprietary manufacturing equipment thatcan produce over 2,000 product optionstailored to specific consumer requests.

Customer interaction with the pro-ducer through the Internet can also be usedfor a variety of information products. Forexample, Folio[fn].com uses a system tocreate folios, or baskets of stocks, that arepurchased in a single transaction. Any foliocan include anywhere from one to 50 dif-ferent stocks and you can select a ready-to-go folio or create your own. You can havemultiple folios and directly own hundredsof stocks, which can be purchased in a fewtransactions as shares of the folio.

One of the challenges of the Internetin product development has been its limita-tion in presenting product concepts thatonly appeal to the senses of sight andsound. Several firms are working on desk-top devices that can deliver smell and tastesensations. Prototypes of these devicesreveal they will most likely be constructedas printers, with cartridges that print smellsand tastes. The smells derive from chemicalcombinations that are controlled by theuser’s software. Tastes can be

deposited on a specially treated paper-likesurface, which consumers can lick to expe-rience the product taste. Naturally, it willnot be possible to mimic all possible sensa-tions over the Internet, but one can imagineat least a narrow set of possibilities that willbe of value to some product developers.● Accelerated New Product Launch

Using Viral Marketing Strategies:

How can the Internet help acceleratecustomer acceptance of a new productafter launch?There is some indication that viral

marketing may help give a new productdecent exposure. Viral marketing is devel-oping a strategy so that a buyer will tell onaverage seven friends, who each tell sevenothers, and so on. This word-of-mouthprocess is usually slow and often hard toinfluence. The Internet facilitates buildingviral marketing concepts into the productdesign.

For example, thePlunge.com is a newinformation service that helps customersplan a wedding, or any other special event.The site enables you to create a website for the event, which guests can visit. Youcan select a theme for the event and have invitations electronically sent. Directionscan be made available on your site, as canphotos, etc. Depending on the event theme,a variety of services may be suggested. Thebuilt-in viral aspect of the product is thatwhen guests experience the site (because of invitations, etc.), they can become potential customers.

What Did We Learn in the Course?

When we examined all we learned at theend of the course, we recognized two fun-damental conclusions about product devel-opment on the Internet: The basic conceptsand processes of business and productdevelopment were not discarded as wemight have expected. In fact, they weremore important than ever because the paceof business on the Internet is lightningquick and you must clearly understand anduse these basic concepts and frameworks tosurvive.

The second conclusion was that, giventhe basics, one had to practice using them.As one president of a dot.com told us, hisbest training for the dot.com world was toanalyze and discuss three business schoolcases a day, five days a week.

We know there are many more thingsto learn about how the Internet could beused to help develop new products andservices. At the conclusion of the course,we all felt we would continue to learnabout this topic for a long time. We are atthe beginning of a genuine revolution thatcan result in better meeting the needs ofconsumers and society. ❧

Professor Robert Thomasteaches marketing at Georgetown’sMcDonough School of Business.

Faculty


Professor Paul Almeida is president of theInternational Federation of Professional andTechnical Engineers and co-chair of a task force to address issues of moraleand quality raised by the Society of Professional Engineering Employees inAerospace. Almeida and Professor James

Angel, received best professor awards fromthe Executive Certificate Programs in fall 1999.

As a visiting academic fellow at theNational Association of Securities Dealers(NASD), Professor James Angel isresearching the trading of NASDAQ mar-ket makers and volatility in NASDAQmarkets. This year, he presented “OnChanging Structures in Securities Markets”at a conference at the London School ofEconomics and “Ways of ImprovingLiquidity for Small Capitalization StockMarkets” at BOLCEN 2000 in Panama. InJune, he presented “The Relationshipbetween Exchanges and OTC TradingPlatforms in the United States” at a confer-ence organized by Deutsche-Borse A.G. inFrankfurt.

Professor Alan Andreasen published“Social Marketing Has a New Champion,”with Rob Gould (vice president, PorterNovelli) and Karen Gutierrez (formerProcter and Gamble marketing executive),in Advertising Age, February 7, 2000. Hisbook, Ethics in Social Marketing, is forth-coming this year. He published a chapter,“Strategic Marketing for Non-ProfitOrganizations,” with Philip Kotler(Northwestern University), in MarketingTheory: A Student Text and in The Inter-national Encyclopedia of Business and Management. He received a grant for

$25,000 from the Rockefeller Foundationto study social marketing in the developingworld. The Aspen Foundation awardedhim a fellowship of $1,500 to attend theBoston College Center for CorporateCommunity Relations “2000 InternationalLeaders Conference,” in March.

Georgetown University andAndreasen’s Social Marketing Institute con-vened the first-ever Non-Profit MarketingSummit, in Florida in March.

Visiting professor Lehman Benson III

published “The Effects of Regret in Pre-choice Screening” in volume 78 ofOrganizational Behavior and HumanDecision Processes, with L. D. Ordòñez andL. R. Beach, both at the University ofArizona’s Eller School of Business. Hisresearch on stress and time managementwas featured in “Mind, Body, and Soul” inBlack Enterprise August 1999.

Professor Robert Bies’s article, “HowEmployees Respond to Personal Offense:The Effects of Blame Attribution, VictimStatus, and Offender Status on Revengeand Reconciliation in the Workplace,” isforthcoming in the Journal of AppliedPsychology. His co-authors are Karl Aquino(College of Business and Economics,University of Delaware) and Tom Tripp(College of Business and Economics,Washington State University). He co-authored, with Roy Lewicki (FisherCollege of Business, Ohio State University)and Blair Sheppard (Fuqua School ofBusiness, Duke University), Research onNegotiation in Organizations, Volume 7. Hischapter “Interactional (In)justice: TheSacred and the Profane” will appear thisyear in Advances in Organizational Behavior,edited by J. Greenberg (Fisher College of

Business, Ohio State University) and R.Cropanzano (Department of Psychology,Colorado State University). With TomTripp, Bies co-authored “A Passion forJustice: The Rationality and Morality ofRevenge,” which will appear as a chapter inJustice in the Workplace, Volume II.

The Council of Independent Collegesawarded professor of management Rev.

William Byron the 1999 AcademicLeadership Award for his work in assistingchief academic officers.

Professor Michael Czinkota’s mostrecent book, Japanese Distribution Strategy,with Masaaki Kotabe (Washburn Chair ofInternational Business, Temple University)was published this year. His article, “ThePolicy Gap in International Marketing”appeared in the February issue of Journal ofInternational Marketing.

In 1999, Visiting Professor Lynn

Doran published “Market-Making in theThird Market for NYSE-Listed Securities”in volume 1 of The Financial Review.

William Droms, Powers Professor ofFinance, and David Walker, LargayProfessor of Finance, will publish“Persistence of Mutual Fund OperatingCharacteristics” in the next issue of AppliedFinancial Economics. Droms also publisheda paper on investment asset allocation forretirement planning in the January 1999issue of the Journal of Accountancy.

Professor Patricia Fairfield has a one-year academic fellow appointment atthe Securities and Exchange Commission(SEC).

RESEARCH AND ACTIVITIES


In May Professor Ron Goodstein pre-sented “Visual Relatedness: The Effect ofMatching an Ad’s Visual Theme with ItsContext,” at the Society for ConsumerPsychology’s annual conference. Goodstein’sarticle, “Developing Customer FocusAcross Multiple Constituencies,” willappear in Advances in the Study ofEntrepreneurship, Innovation, and EconomicGrowth, edited by G. Libecap (Universityof Arizona).

In 1999, Professor Catherine Langlois

co-authored two articles, “Behavioral Issuesof Rationality in International Interaction:A Game Theoretic Analysis” and“Behavioral Issues of Rationality inInternational Interaction: An EmpiricalAppraisal” with Jean-Pierre Langlois in vol-ume 43 (issues 5 and 6) of the Journal of Conflict Resolution. She will review Stanford Business School Professor DavidKreps’ new text, Microeconomics forManagers. She presented “EngineeringCooperation: A Game Theoretic Analysisof Phased International Agreements” at theWestern Economic Association meeting inJuly 1999.

Professor Douglas McCabe serves onthe editorial review boards of 18 academicand professional journals in business, man-agement, and labor relations, includingResearch in Ethical Issues in Organizations,Employee Responsibilities and Rights Journal,and Journal of Individual EmploymentRights. He published “Global Labor andWorksite Standards: A Strategic Ethical Analysis of Shareholder EmployeeRelations Resolutions” this year in volume23 of the Journal of Business Ethics.

Professor Marcia Miceli published“Consequences of Satisfaction with PaySystems: Two Field Studies,” with P. W.Mulvey (College of Management, NorthCarolina State University), in volume 39 ofIndustrial Relations. “ContextualDeterminants of Variable Pay Plan Design:A Proposed Research Framework,”co-authored with R. L. Heneman (Fisher College of Business, Ohio StateUniversity), is forthcoming in HumanResource Management Review. She present-ed, “Consequences of Health Care BenefitSatisfaction: The Mediating Role ofPerceived Organizational Support,”co-authored with P. W. Mulvey and C.Dawkins (College of Communications,Ohio University) this year at the annualmeeting of the Society for Industrial andOrganizational Psychology.

Professor J. Keith Ord’s “Analysis of aDual Sourcing Inventory Model withNormal Unit Demand and Erlang MixtureLead Times,” coauthored with D. K. H.Fong (Smeal College of BusinessAdministration, Pennsylvania StateUniversity) and V. M. Gempesaw (formerlyat Smeal) will appear this year in volume120 of the European Journal of OperationalResearch.

Professor Lamar Reinsch is currentlyserving one year as president of theAssociation for Business Communication(ABC). ABC publishes Journal of BusinessCommunication and Business CommunicationQuarterly.

Professor Craig Smith’s “EthicalGuidelines for Marketing Practice” is forth-coming in the Journal of Business Ethics. Hischapter, “The Social Control of CorporateCriminals,” co-authored with SallySimpson and M. L. Exum, both with thecriminology department at the Universityof Maryland, appears in Of Crime andCriminality. Smith also has two book chap-ters forthcoming: “Social Marketing andSocial Contracts” appears in Ethics in SocialMarketing; “Changes in CorporatePractices in Response to Public InterestAdvocacy and Actions” appears inHandbook of Marketing and Society, editedby Paul N. Bloom (Kenan-Flagler Schoolof Business, University of North Carolina)and Gregory T. Gundlach (University ofNotre Dame School of Business).

Professor Ed Soule’s “David Humeand Economic Policy” appears this sum-mer in volume 26 of Hume Studies. Hepresented “Environmental Regulation:

Faculty


The Precautionary Principle andAgricultural Genetically ModifiedOrganisms,” at the annual meeting of theInternational Association of Business andSociety in March 2000.

Professor Michael E. Staten published“Monitoring the Household Sector withAggregate Credit Bureau Data,” in BusinessEconomics, January 2000, with John M.Barron (Krannert Graduate School ofManagement, Purdue University) andGregory Elliehausen (Georgetown). Statenpublished “Debit, Credit or Cash: SurveyEvidence on Gasoline Purchases” in vol-ume 51 of Journal of Economics and Businesswith Kenneth A. Carow (Kelley School ofBusiness, Indiana University). He providedtestimony on student credit card use beforethe Virginia General Assembly inDecember 1999. He also provided testimo-ny on consumer privacy before theCalifornia State Assembly in April 2000.Staten gave the keynote address, “TheValue of Comprehensive Credit Reports:Lessons from the U.S. Experience,” co-authored with John M. Barron, at theAustralian Retail Finance Conference inFebruary 2000.

Professor Cathy Tinsley published“Adopting a Dual Lens Approach forExamining the Dilemma of Differences in International Business Negotiations,”in volume 4 of International Negotiationin 1999.

David Walker, director of theMcDonough School’s Capital MarketsResearch Center, is past president of theFinancial Management Association(FMA), and continues to serve on its vari-ous boards. Reena Aggarwal has complet-ed her term as member of the FMA board.Dick Sweeney was U.S. chair of the FMAEurope 2000 conference held inEdinburgh, Scotland, in May. McDonoughSchool professors Reena Aggarwal, Jim

Bodurtha, Sandeep Dahiya, Allan

Eberhart, Lee Pinkowitz, Akhtar Siddique,and Rohan Williamson, who served on theFMA Europe 2000 committee, reviewedthe more than 225 papers submitted forthe conference.

Professor Bennet A. Zelner will pub-lish “Political Risk and InfrastructureInvestment,” with Witold J. Henisz(University of Pennsylvania’s WhartonSchool of Business), in a forthcoming book

RESEARCH AND ACTIVITIES

to be published by the World Bank. Hepresented “Political Constraints, InterestGroup Competition and InfrastructureInvestment in the Electric Utility Industry:A Cross-National Study,” co-authored withHenisz, at the Strategy Research Forum inMassachusetts, at the International Centrefor the Study of East Asian Development(ICSEAD) Japan, at the World Bank,Washington, D.C., and at the annual meet-ing of the Academy of Management thisyear. He received an ICSEAD grant toconduct interviews with Asian managersand officials as part of a project examiningthe effect of political risk on infrastructureinvestment by independent power produc-ers. Zelner also chaired a panel“International Financial Institutions andDomestic Structures” at the MidwesternPolitical Science Association annual meet-ing.

Professor Laszlo Zsolnai, ConnellyVisiting Scholar, spoke on “Responsibilityand Choice: Decision Making in MultipleValues Perspective,” at the ConnellyProgram’s spring lecture series, March 24. ❧


Since his arrival at Georgetown in1998, McDonough DeanChristopher Puto has looked at all

the business school’s key programs to “seehow they stood in comparison to top-ranked business schools and to see how wecan position the school as a leader in man-agement education.”

As a result, several changes to theundergraduate business curriculum areunderway. During the last year, a task forcecomprised of faculty, staff, students, parentsand recent alumni met to gather data fromalumni, students, employers and otherschools and work on a proposal to revisethe curriculum. This spring, the ExecutiveCouncil of Georgetown’s McDonoughSchool voted to implement the task force’sproposal.

Under the plan, two new majors arescheduled to be offered in the 2002-3 aca-demic year, in strategy and in decision sci-ences/operations. The latter will have atechnological focus. “We’re not creating ane-commerce major,” Puto said. “The focusis on business concepts that drive e-com-merce, and preparing students for a moretechnology-focused workplace.”

The strategy major will prepare stu-dents to assemble all the resources of abusiness enterprise to maximize its com-petitive position and achieve its goals. Thebusiness school’s current strategy course forseniors now will be opened to juniors, and,over the next 12-18 months, new electiveswill be added.

Another innovation, which receivedpreliminary approval pending an imple-mentation study, is a writing-intensive,first-year seminar. Instead of taking inter-national business in large sections of 45 to50 students, freshmen will take a seminarwith a maximum size of 20 students.“The seminar is designed to make fresh-men cognizant of global business issues,

and concentrates on conceptual thinkingand written and oral communicationskills,” Puto explained.

The goal is to implement the seminarsby fall 2002, either as a pilot project orfully-approved program. During the inter-im, faculty will plan the seminar programand Dean Puto will be seeking the addi-tional resource requirements. “The semi-nars require a great deal of work, by thestudents and by the faculty,” noted Puto.“To maintain small seminars, we must findadditional resources for more faculty.”

Roger Gill (B’02), who is one of twostudents on the curriculum committee, saidthe new majors and the seminar programshow “the McDonough School is adaptingto the outside world. We’re not staying sta-tus quo.”

Some additional curriculum changesthat will take place immediately includeconsolidating quantitative course work toallow students to enroll in more liberal artscourses. Under the task force’s proposal, nomore than 50 percent of a student’s courseswill be in business. “The liberal arts sharp-en students’ critical thinking skills, andstrengthen their ability to integrate knowl-edge,” said Puto. “We are encourag-

ing business students to avail themselves ofthis opportunity.”

Although some students already par-ticipate in business-related public serviceopportunities, the new curriculum will for-malize that program. For example, severalGeorgetown students teach courses onbusiness management to students in D.C.elementary schools and help lower-incomegroups prepare their tax returns. Under thenew curriculum, they can earn academiccredit for such service.

An advanced research program forundergraduates will also be established,allowing qualified business majors to workwith professors on research projects.

Roger Gill said the curriculumchanges will “increase the value of mydegree.” Over time, he added, the improve-ments will help Georgetown students suc-ceed in the changing workplace.

“The net result,” Dean Puto said, “isthat we have a curriculum and an approachto educating our business students that is geared to the 21st century. Georgetownalumni have a tradition of successfulachievement. Our goal is to enhance those prospects for future alumni.” ❧

Susan Crites Price

Curriculum Revisions Make Undergraduate

Business Major More Rigorous, Relevant

Professor Marlene Morris teaches McDonough undergraduates.

Small seminars are part of the curriculum revisions.


Undergraduates Win AAF Advertising Competition

Ateam of eleven GeorgetownMcDonough School’s undergraduate

seniors beat 19 teams to win the AmericanAdvertising Federation’s (AAF) District 2student advertising competition in April.The District 2 competition draws schoolsfrom the East Coast. “Some teams have 50advertising majors and spend two semesterson the project,” says team member BinduVaswani (B’00).

The competition challenges advertis-ing classes across the country to create amarketing plan for a client. This year’sclient, the New York Times, wanted todevelop a readership among 18- to 24-year-olds. The Georgetown team personi-fied the Times as a “companion for life,”with a campaign slogan of “Have you metthe New York Times?”

The team members were enrolled in anadvertising course, Advertising CampaignPlanning. In January, students began

to develop a plans book, which included acreative strategy, ad campaign, and alloca-tion of an annual $6 million budget.

“The class had total ownership of theproject,” says course professor MariaIvancin. “Everyone contributed and did soin their own way.”

Teams were evaluated 50 percent ontheir plans book, and 50 percent on a 20-minute presentation and 10-minute ques-tion-and-answer session before a panel ofjudges.

Other team members included NicoleAdams, Kelli Chester, Jennifer Cortese,Meredith DelBello, Tessa DeFlines, AdrielEstrada, Kate McCue, Bill Mosher, JosephSaucedo, and Uma Sud.

For the next year, the regional AAFtrophy will be housed at Georgetown.“We’re very proud of our win,” saysVaswani, “and we’re looking forward tonational.” The Georgetown team will go upagainst 14 other districts at the nationalfinals, which are held this June during theannual AAF conference in Las Vegas.

Industry Standard Picks Paulter AsRunner-Up in its annual MBA Draft

Lisa Pautler (MBA’00) was selected as arunner-up in The Industry Standard’s

annual MBA Draft. The Standard, a lead-ing Internet publication, looks for graduat-ing MBAs who want to work in the high-tech arena and are still seeking employ-ment. With the help of some of thenation’s top new-media recruiting firms,the Standard selects five MBAs and fiverunners-up in its prestigious competi-tion.

The Standard’s criteria? MBAs “whohave the right mix of accomplishment,Internet experience, and a damn goodstory to tell,” writes Standard reporterMickey Butts.

In an interview with the Standard,Paulter said her most important factors inselecting employment are “creativity, pas-sion, ability to change strategically, and astocked fridge.” In the meantime, Paulteris doing freelance consulting for Barcardi,Ltd. She is interviewing in Los Angeles,and her goal is to work in Internet market-ing management for entertainment, newmedia, or advertising.

Second-Year MBA Wins AAUW Fellowship

The American Association of UniversityWomen (AAUW) has awarded Julia

Karki (MBA’01) a Selected ProfessionsFellowship to complete her MBA. The fel-lowship is given to women in non-tradi-tional fields such as business or engineer-ing who are in their last year of study.Karki was one of 39 recipients selected forthe award out of a total of 250 applicants.

McDonough Student Scholarships and Awards

Georgetown McDonough AAF team with the AAF regional trophy.


Criteria for selection include academ-ic, professional and personal achievement,including potential as a role model in aninnovative or non-traditional area ofresearch, and intent to contribute to theprofessional advancement of women.

Karki, who worked at the WorldWildlife Fund before graduate schoolhopes to consult for educational institu-tions or e-commerce education markets.

MBAs Win Regional National Venture Capital Investment Competition

Ateam of second-year GeorgetownMBAs won the third annual Mid-

Atlantic/Southeast Regional NationalVenture Capital Investment Competition,which ran February 17 – 19, 2000.

The competition was hosted by theUniversity of Maryland’s Robert H. SmithSchool of Business. Mike Dupee( JD/MBA), Kathleen Parnell, MarkRussell, Oak Strawbridge, and WillThierbach were the first Georgetown teamto participate in the competition. Smith T.Wood, an adjunct professor of entrepre-neurship at Georgetown and one-timeboard member of Allied CapitalCorporation, served as the team’s facultyadvisor.

The team acted as a hypothetical ven-ture capital fund and considered five realbusiness plans from local start-up compa-nies seeking venture funding. After review-ing the business plans and interviewing themanagement of each company, each teamproposed investments based on real venturecapital funding criteria, presented their rec-ommendations to a panel of judges anddefended their proposed investments.

The Georgetown team took home a cash award of $3,000. “Georgetown has a first-class entrepreneurship program,”says Strawbridge. “This shows that theinterest level in venture capital is high andthat we have the capability.” Strawbridgeand Will Thierbach were recently hired as first associates by the Grosvenor Fund.“We’re excited because venture capital isthe hardest business to get into out of busi-ness school,” says Strawbridge. “This is amajor testament to how impressed the venture capital arena in D.C. is withthe competition.”

Beta Gamma Sigma Inducts Seventeenth Class

Beta Gamma Sigma, the nationalscholastic honor society in business,

inducted its seventeenth class of businessstudents at the Leavey Center May 4.

Fifty-one MBAs in the top 20 percentof their class were inducted. The top 10percent of the senior class and top sevenpercent of the junior class — 44 under-graduates — were inducted.

McDonough School Wins Teaching Award

The National Foundation for TeachingEntrepreneurship (NFTE), an internation-al non-profit that introduces low incomeand at-risk young people to the world ofbusiness and entrepreneurship, awardedGeorgetown’s McDonough School itsEntrepreneurship Education Award March29 in New York City.

The McDonough School is hostingtrainings for high school teachers andyouth workers who receive graduate creditthrough NFTE’s university teacher certifi-cation program. “We are fortunate to havean incredible partnership with one of thetop universities in the country,” said SteveMariotti, NFTE chief executive officer.

Approximately 60 teachers and youthworkers will participate in the certificationprogram this year, the second year ofNFTE’s five-year partnership withGeorgetown’s McDonough School. Thirty-eight people were trained in 1999.

“With each teacher touching 100 ormore young lives each year, thousands ofyouth will benefit,” said Julia Kantor, divi-sional director of NFTE’s Washingtonoffice. ❧


Senior Executives of Top Companies EstablishMcDonough School Scholarship Funds

When Lance L. Weaver (B’76), senior vice chairman ofMBNA America Bank (MBNA), chose to attendGeorgetown, the decision was easy from an academic perspec-tive. It did, however, pose a financial challenge for his family.

Weaver recently made a $500,000 commitment, matchedwith $500,000 from MBNA, to the McDonough School ofBusiness to provide $1 million in financial assistance to stu-dents.

“I feel fortunate to be in a position to make this contribu-tion, especially because I know that attending Georgetownhelped shape the person I am today,” Weaver says. “The schol-arship will provide talented students who are economically dis-advantaged the opportunity to attend a terrific university.”

Weaver is building on a strong relationship with his almamater. He helped secure $2 million in MBNA funds to enlargeand relocate the MBNA Career Education Center. He is amember of the Third Century Campaign Steering Committee,the Georgetown University Board of Regents, and is a mem-ber of the GU Delaware Alumni Club, which he was instru-mental in forming.

John D. Bowlin (B’72) and his brother Robert (B’75)pledged $250,000 for financial aid in honor of their parents,Laurian and Jack Bowlin. John Bowlin is on Georgetown’sMcDonough School Board of Advisors and is CEO of MillerBrewing in Milwaukee. Robert is president of Sony MusicInternational.

“Our parents gave us the opportunity to get a great educa-tion,” says John Bowlin. “What better way to honor them thanhelping someone else?”

McDonough School BOA Members Make Commitment To New Facility, Car Barn

Peter N. Crnkovich (B’78) joins several members of theMcDonough School’s Board of Advisors (BOA) in making a$100,000 commitment to the new McDonough School facili-ty, which will house undergraduate, graduate, and executiveeducation programs.

“I wanted to give something back to the school,” saysCrnkovich. “I think an appropriate home for the businessschool will create and foster a more conducive work environ-ment for students and faculty.”

Crnkovich is managing director at Morgan Stanley DeanWitter & Co. in New York.

Board of Advisor member Paul Hill (B’67), president ofHarvard Developments, Inc., directed $100,000 toward theMBA facility in the Car Barn, which opened September 1999.The Graduate Admissions Office has been named in recogni-tion of the gift from the Paul and Carol Hill Foundation.

Levi Strauss & Co. Awards Grant to Minority Fellowship Program

Levi Strauss & Co. has given a grant of $50,000 to the MBAMinority Fellowship Program.

“The School of Business has done an outstanding job ofreaching out to the minority community,” says PhilipMarineau (C’68), president of Levi Strauss & Co. andMcDonough BOA member. “As we struggle to attract andretain a diverse work force, efforts such as these are critical inmeeting our long-term human capital needs.”

The grant will be used to fund two students for one year.The MBA Minority Fellowship Program aims to increase thepercent of minority enrollments, and create a critical mass ofdiverse leaders to meet the needs of business. ❧

Dividends

This spring, commitments to the McDonough school have flourished, with financial aid and a new facility remaining popular areas

with donors, and the MBA Minority Fellowship Program gaining momentum with a commitment from Levi Strauss and Company.


ALUMNI

● The May 22 Financial Times noted that the entrepreneurial

efforts of five Georgetown McDonough School M.B.A. graduates

“have subsequently exceeded their wildest expectations.” The Times’

article profiled two startups from the Class of 1998: headlight.com,

an on-line training site started by Peter Mellen and Scott Mitic, and

Pangea, an optical fibre cable company founded by Christian Jepsen,

Matt Carlson and Stephanie Adams.

● Wendy Moe (MBA’96), doctoral candidate at the University of

Pennsylvania’s Wharton School, was featured in the March 27, 2000

edition of the Financial Times (Alison Beard), as a member of one of

four teams participating in the final round of a business plan compe-

tition sponsored by Hummer Winblad Venture Partners to award ven-

ture capital funding to students. The competition attracted over 200

business plan submissions. ❧

FACULTY

Professor Sandeep Dahiya’s research on the value of Baby Bell stock

holdings following the Bells split from AT&T was featured in the May

29, 2000 issue of Fortune (Herb Greenberg) and in the June 8, 2000 edi-

tion of the Atlanta Journal-Constitution. His research on tobacco litiga-

tion and its effect on stock price was profiled in the April 11-24, 2000

issue of MBA Bulletpoint.

● Professor Bob Bies noted that “revenge (in the workforce) can be

taken to extremes” and that “people can be hurt. People can be

caught” in an article on revenge in the April 18, 2000 edition of the

Seattle Times (Kim Barker).

● USA Today (James Cox) quoted Professor Paul Almeida in a March

27, 2000, article, “Bevy of Deals Bring Businesses Together Online.”

“Almost everybody is going to be simultaneously competing and coop-

erating with someone else in the same industry,” said Almeida.

● Visiting professor Betsy Sigman was quoted in the February 17,

2000 edition of El Mercurio (Carlos Ahumada), Chile’s largest national

daily. The article discussed the effect of the Internet on political

primaries in the United States.

● “It’s going to be on all of our students’ desktops,” said John

Carpenter, Georgetown’s McDonough School information technology

director, of Microsoft’s Windows 2000 in the February 11, 2000 edition

of InfoWorld (James Niccolai/Bob Trott). “We are going to support it —

good, bad, or ugly.”

● Professor Jim Angel, who testified in Congress in favor of decimal-

ization of U.S. stock market, noted that “Americans don’t have a repu-

tation for being good at math, especially with fractions,” in the

February 3, 2000 edition of Smartmoney.com (Matthew Goldstein). He

commented on the history of the the New York Stock Exchange in a

Wall Street Journal (Greg Ip) special millennium report on December 31,

1999.

● Professor Mary Culnan was quoted in USA Today on December 20,

1999, in an article on the effectiveness of reliability or privacy seals on

web sites.

In the Media


From curriculum to careers, fromcorporate education to develop-ment, new leadership in key roles

at Georgetown’s McDonough Schoolreflect the school’s commitment to prepar-ing students for lifelong learning andimproving programs to attract students,alumni, recruiters, corporations andfriends willing to invest in the school andbenefit from its advancement.

Joseph Mazzola is the new chair ofthe Graduate Curriculum and StandardsCommittee. Appointed in February,Mazzola oversees a committee comprisedof six faculty and two students, and ischarged with establishing policy for theMBA, executive MBA and executive edu-cation programs, as well as standardsinvolving grading and conduct.

“Our goal is to become an interna-tionally recognized top MBA program,”says Mazzola. “We clearly want to beranked among the top 20 and don’t wantto stop there.” He comes to this positionwith experience: In the early 1990s, hechaired the MBA curriculum committeeat Duke University’s Fuqua School as theschool moved into the ranks of top-tierbusiness schools.

Mazzola, who teaches operationsmanagement, left Duke to joinGeorgetown’s McDonough faculty inAugust 1999.

Lisa Kaminski, assistant dean anddirector of the international executiveMBA program was named acting directorof executive education in February.Kaminski, who came to Georgetown lastfall, was director of special executive pro-grams at the Massachusetts Institute ofTechnology’s (MIT) Sloan School ofBusiness. At Sloan, Kaminski increasedrevenues by $1.2 million, increased thenumber of students in programs by 61percent and the number of custom coursesby 40 percent.

She believes that in order to success-fully lead businesses in the new economy,executives need to be taught new thinkingskills to approach problem-solving anddeliver results in this new knowledge-based economy.

“Executive education programmingmust be linked to the challenges facingbusiness men and women as they con-stantly reinvent and reshape their busi-nesses,” says Kaminski. “Organizationsinvest in executive education just as theymake other capital investments — to planfor their future growth.”

Director of Development Elise Mull-

aney understands the concept of return oninvestment. Appointed on March 1, Mul-laney believes that donors are not simply givingmoney. “They’re making an investment in thefuture of the school,” she says.

She will focus on leadership commit-ments to the McDonough School ofBusiness in the Third Century campaignand, in doing so, plans to advance theschool’s strategic priorities, including thenew business school facility, faculty chairsand funds for technology.

“I’m encouraged that this campaignwill strengthen the teaching, learning, andresearch environment here at the businessschool,” she says. “More than ever, theMcDonough School of Business dependsfor its continued vitality on the confidence,commitment and generous involvementof its alumni, parents and friends.”

Administrative Appointments

Joseph Mazzola Lisa Kaminski

Mullaney was most recently withGeorgetown College, where she was assis-tant director of development and securedcommitments for campaign priorities in thearts and sciences.

She has over ten years of developmentexperience, mostly at Harvard, with stints atthe University of Pennsylvania MedicalCenter and Carnegie Mellon University.

Darnelle Hoose is acting director ofthe MBA career management (MBACM)office since the departure of MBACMassistant dean and director Jackie Wilbur inApril. A national search is underway to fillthe position. Hoose was previously aMBACM associate director.

“Next year’s on-campus recruitment isdirectly proportional to critical marketingefforts performed in the next threemonths,” notes Hoose. “We are workingclosely with students, alumni, and corporateaffiliates to develop a marketing plan and torevise our marketing literature and webpages. I’m also committed to maintainingand improving the activities and programsestablished by the prior director.”


A Phi Beta Kappa graduate of theCollege of William and Mary and an MBAwith a concentration in marketing, Hoosehas more than 20 years of experience ininformation technology and MBA careermanagement.

Georgetown’s Jacqueline Wilbur, assis-tant dean and director of MBA career man-agement for six years, has been named thedirector of career management at MIT’sSloan School of Management.

During her tenure, Wilbur increasedthe number of firms recruiting on campusmore than 80 percent and created the on-campus recruitment program. She was alsoresponsible for starting the annual careersextravaganza and the employer of the yearceremony. She oversaw the career develop-ment activities of more than 20 studentclubs, ultimately working with more than500 MBA students, 50 IEMBA students,and 2,000 MBA alumni.

She served as president of the MBACareer Services Council (MBACSC) fortwo years. She has been co-chair ofMBACSC’s employment reporting stan-dards committee since 1994 and has seenthe adoption of those standards across theindustry and in the popular media.

“Under Jackie’s leadership, MBACMearned a respected position among eliteMBA programs worldwide, and has playeda key role in strengthening the position ofthe MBA program,” notes associate dean ofgraduate programs Larry Abeln, who previ-ously worked at MIT’s Sloan School.

“I feel very lucky to have had theopportunity to work at Georgetown,” saysWilbur. “The business school is a specialplace that I will miss for a long time.” ❧

Elise Mullaney Jacqueline WilburDarnelle Hoose


This spring, 2nd-year MBAs were the first

McDonough students to travel to London, Buenos

Aires, Hong Kong and New Delhi as part of the

new graduate curriculum’s required international

integrative session.

The foreign residency is the capstone of

three-months of study. Students select a consult-

ing-style project based in an organization in one

of the four countries, prepare industry analyses,

and study business and cultural issues pertinent

to the organization’s home country.

Once on the in-country residency, MBAs

present their results to the sponsoring organiza-

tion. Students completed projects in new product

development, marketing, strategy, trade, finance,

and logistics for companies such as the Delhi and

Hong Kong stock exchanges, Sprint, Royal Dutch

Shell, and DaimlerChrysler.

The overseas integrative is a distinguish-

ing hallmark of the MBA program. The New York

Times recently featured the McDonough School’s

overseas experience as one of only three graduate

business programs in the United States that

requires international study. “For MBA[s]...the

essential new tool is no longer...the fastest lap-

top,” noted the Times. “It’s a passport.” ❧

London, England

Number of MBAs on projects: 70

Twelve companies sponsored projects,

including the British Treasury, Piaggio,

Royal Dutch Shell, and Egg.com.

MBAs Master Business Abroad

Photo credits: Tobin Richardson, Antonio Del Rosal,

Dale Tzeng, Amir Vellani (all MBA’00)

Buenos Aires, Argentina


Eleven companies sponsored projects,

including Camuzzi Gas, Lehman Brothers

and Lockheed Martin.

Hong Kong, China


Eleven companies sponsored projects,

including the U.S.-China Business

Council, the Healthy Back Store, the

Calvert Group, the Hong Kong Stock

Exchange and the Hong Kong Tourist

Association.

Delhi, India


Seven companies sponsored projects,

including the Delhi Stock Exchange,

PG Softech and Sprint.

PostScript Picture

spring.ctp

MBAs at Egg.com offices, London

MBAs in London MBAs outside stock exchange, China

Professor Ricardo Ernst with MBAs at the Institut de Altos Estudios

Empresaiales, Argentina

MBAs at Varanasi University, India

MBAs at the Lee Kum Kee oyster sauce plant, China

MBA Admissions Recruiting Schedule

Interested in applying to the Georgetown McDonough MBA program? Come visit one of our admissions representatives

in the following locations. For more information, call the MBA office at 202.687.4200 or e-mail [email protected].

SEPTEMBER 2000

September 10 Cairo, Egypt

September 12 Mexico City, Mexico

September 14 Aman, Jordan

September 16 Dubai, United Arab Emirates

Buenos Aires, Argentina

September 18 Sao Paolo, Brazil

September 19 Istanbul, Turkey

September 20 Ankara, Turkey

September 21 Athens, Greece

OCTOBER 2000

October 3 Manchester, England

October 5 London, England

October 7 Paris, France

October 10 Boston, Massachusetts

Madrid, Spain

October 12 Milan, Italy

October 14 Washington, D.C.

Frankfurt, Germany

Caracas, Venezuela

October 16 Munich, Germany

Milan, Italy

October 17 Zurich, Switzerland

Dallas, Texas

October 18 Vienna, Austria

Warsaw, Poland

Sao Paolo, Brazil

October 19 Los Angeles, California

October 20 Buenos Aires, Argentina

October 21 Mexico City, Mexico

Moscow, Russia

October 23 Santiago, Chile

October 24 San Francisco, California

October 25 Lima, Peru

October 27 Chicago, Illinois

October 28 Mexico City, Mexico

October 31 Toronto, Canada

NOVEMBER 2000

November 1 Toronto, Canada

November 4 Vancouver, Canada

November 6 Seattle, Washington

November 7 Tokyo, Japan

November 9 Seoul, Korea

November 10 Los Angeles, California

November 11 Shanghai, China

November 14 Hong Kong, China

November 15 Washington, D.C.

November 18 Boston, Massachusetts

November 20 Atlanta, Georgia

November 22 New York City

November 22 New York City

JANUARY 2001

January 29 Tokyo, Japan

January 31 Seoul, Korea

FEBRUARY 2001

February 2 Taipei, Taiwan

February 5 Manila, Philippines

February 8 Bangkok, Thailand

February 10 Singapore, Malaysia

February 12 Jakarta, Indonesia

We encourage all business

school alumni – undergraduate,

MBA, and executive MBA,

to send us class notes. Please

contact Elizabeth Shine at

202.687.4080, if you would

like to become a class agent.

To send notes, please call, fax

them to 202.687.2017, or e-mail

the notes to SHINEE@gunet.

georgetown.edu.


1989The Class of 1989 is soliciting a new class agent. Please contactElizabeth Shine at [email protected] if interested.

Michael Havard, wife Judy, sonJack, and cat Gus, reside in NewCanaan, Conn. He has recentlyjoined Newman’s Own, as vicepresident, marketing and publicrelations. Mike welcomes your cor-respondence at [email protected].

1990Class agent: Lorraine [email protected]

Dave Burke writes that SheliaColgan was hired by The St. PaulCompanies in London, England.

Scott Handel and his wife Kim,are living in Maryland with their two daughters, Allison andJuliana. Kim and Scott recentlycelebrated their 13-year weddinganniversary, as well as Scott’s 10-year anniversary with hisaccounting firm.

Bill Kummel is now founding ane-commerce business. It’s all veryhush hush. When I pressed Billfor details about his business plan,I believe he said it was all “doublesecret probation.” Bill spent NewYear’s in Amsterdam.

C. Whitney Mandel recentlyjoined a consulting practice in the Washington, D.C. area andenjoys his work immensely. HisJack Russell terrier, Bungy, is doingwell.

Roland Monger moved to PaloAlto, Calif., to run Early BirdVenture Capital’s North Americanoperations.

Kitty Swenson and her husbandhave two daughters — 5-year-oldScout and 2-year-old Sara—andare living in Salt Lake City, Utah.Kitty also works full-time atWasatch Advisors, a money man-agement firm, where she’s been forthe previous eight years.

Eileen Utter continues to work inSan Francisco, Calif., at CharlesSchwab.

Jason Wu and his wife Jackiesend their regards. Jason continuesto work for Coca-Cola Beveragesin Shanghai, China.

1991Class Agent: Mary Pat [email protected]

John Prescott works at PCSI, anInternet development/consultingcompany in New Jersey.

Neville Waters is marketingdirector for the D.C. Sports andEntertainment Commission.

Paula Cameron is the director of marketing at Universal StudiosHome Video, near San Francisco,Calif. She recently saw Rob DeOcampo at the OrangeCounty Wine Festival. Robworks at William Hill winery.

UNDERGRADUATE

1976James F.X. Payne joined QwestCommunications International Inc.as vice president for governmentmarkets in August 1999.

1977Christopher Chaconas and hiswife Fada live in Reston, Va.Christopher was recently promotedto general manager of Alcatel ITS.

1986Joe Carbonara and his wifeLaurie recently moved toJacksonville, Fla., where he is con-troller for the LandMar Group.

Bill McMahon and his wife Barbara (F’84) reside in Wellesley,Mass. Bill is chief executive officerof Decorative Concepts, one of thenation’s leading gift wholesalers.

1990Brian Newton has been appoint-ed as vice president of finance atHitplay Media, a Los Angeles,Calif., next-generation entertain-ment video delivery network company.

Alumni NOTES

MBA


try, developed by Choice Hotels.Dave had been working as directorof corporate development atChoice, where he helped lead thecreation of Stay Connect. Otherthan having a new baby, raising hisson, and being the first employee ofa new Internet start-up, life is pret-ty calm and boring. For the secondtime, Dave vows to never have anew baby and start a new job at thesame time. Dave’s new e-mail [email protected].

Marc Gross and his wife Louisehad a baby girl, Aurelia SarahMcKay Gross, on December 16,1999. They are still in London,having decided not to move backto California, but spend a couple ofmore years in Britain instead.Marc’s job at Vestek is going really well.

Michael and Mary Sue Harmanhad their first child, WilliamAlexander Harman, born on January 11, 2000 in Norwalk,Conn. Michael is currently onassignment with DaimlerChryslerSouth Africa, assisting in thelaunch of the new righthand-driveMB C-class.

After six years in Moscow workingfor an investment bank, MargotJacobs has moved to London towork for Regent Pacific FundManagement, an asset manage-ment firm analyzing the EasternEuropean banking industry.

Sheila Lanman is working atHewlett Packard in California.

Ashley Lowe has been living inMichigan for the past two and ahalf years.

Paddy Magee is traveling to Ireland in August.

Simon Black is back to his entre-preneurial roots as the founder ofn-circle, a London-based market-ing dot.com.

Robyn Cox had a boy, Colter, onApril 15, 2000.

Meredith Draycott is back inBrussels with Citigroup, workingin the consumer bank for theircredit director. She covers theEMEA (Europe, Middle East andAfrica). She has also successfullyfought Hodgkins disease and con-tinues to bump into random class-mates in various European cities.We all wish her well and contin-ued good health.

Bob Deily and wife Mary-Ellenhad their first son, MatthewPhelps Deily, on January 13, 2000.In the last four months, theirhousehold has become a littlemore active.

David Gee ([email protected]),and his wife celebrated the arrivalof their baby girl, NathalieShoshana Gee, on January 12,2000. They have returned to theU.S. from France, and David isworking for Sun Microsystems. InNovember 1999, he was named asa Technology Review 100 mem-ber, which is a list of 100 younginnovators who exemplify the spir-it of innovation in science, tech-nology, and the arts nominated byleaders in the industry.

Dave Goldberg and wife Marnihad their second child, Zoey RoseGoldberg, April 13, 2000. Shejoins her 2-year-old brother Sam.Dave recently became vice presi-dent, operations (and the firstemployee) of Stay Connect, Inc.,an in-room Internet solutionsprovider for the hospitality indus-

1992The Class of 1992 is soliciting a new class agent. Please contactElizabeth Shine at [email protected] if interested.

1993Class agent: Jordan O’Neill [email protected].

Genevieve Needham was mar-ried on July 17, 1999 toChristopher Roberts. Fellow class-mate Elizabeth Zucker was inher bridal party and RebeccaOsborne attended. Genevieve ishuman resources site manager atCapital One Financial Services inDallas, Texas.

1994Class agent: David [email protected]

It seems that there has been a flur-ry of activity, job changing andprocreation amongst our peers. Butfirst, a note of thanks to EricSaucedo and Jennifer Anthonywho have created an e-mail distri-bution list for our class. If you did-n’t get any e-mail from me, Eric orJen, then please drop me a noteand we’ll add you to the list. Youcan reach me at [email protected] anyone is coming out to the BayArea and Silicon Valley, please getin touch. David.

Jennifer Anthony had her sec-ond child, a son named Toby, onApril 25, 2000.

Sue Benveniste is still at Mars,her original post-MBA job and isnow the senior marketing directoron the Skittles brand. She justreturned from a commercial shootin New Zealand, where she alsobungy-jumped off a 43-meter-high bridge. A

LUM

NI

NO

TESFrank and Carol Ann Manzella

had a son, Sean MichaelManzella, on St. Patrick’s Day,March 17, 2000. Frank alsorecently joined Asanté Partners, aboutique investment bank focusedon the healthcare and technologyindustries. You can reach Frank athis new e-mail address [email protected].

Paul and Jane (nee Dawkins)Murphy reported their daughterKathryn is over a year old. She isrunning around and laughs all day.PauI works for a private equityfirm, investing in middle marketprivate companies. He tells us thatit’s very interesting and actuallyfeels like he uses the old MBA.

Dirk Nowak had a son, Dominik,in early May 2000.

Dave Petroni is now the vicepresident of corporate develop-ment at onDisplay. You can reachDave at [email protected].

Alona Ponomareva was recentlypromoted and will switch depart-ments in July at the InternationalFinance Corporation (IFC), whichis part of the World Bank Group.She’s currently an associate invest-ment officer in IFC’s LatinAmerica department, makingloans/equity investments in privatecompanies in Brazil, Argentinaand Peru. In March, Alona wasaccepted into a highly competitiveyoung professionals program atthe World Bank Group (about 40people chosen from 8,000+ appli-cants), and will become an invest-ment officer in IFC’s Europedepartment. She will finally get achance to work in Russia andother former Soviet Union andEastern European countries again.

Alumni NOTES


Amby and Stephanie (neeWelch) Rufino have a new son,Jonathan Ernest Welch Rufino,born October 22, 1999 atGeorgetown Hospital. He’s quiteadorable. His nickname is “tine”for tiny. He has Amby’s hair – buthe also looks a bit like Steph.

Eric Saucedo left Patricof & Co.to join Compass Capital LLC,a Latin American venture capitalfund.

Stefan Stuerwald recentlylaunched AtomicTangerine, a ven-ture-consulting firm, and has justsecured the second round offinancing for this project.

Matt Tucker is living in NewYork with his wife Jane, and theirtwo boys, Ryan Patrick, and JackWilliam. Matt is currently work-ing at RightFreight.com, anInternet company in the logisticsand transportation business thatwas recently named by Upsidemagazine as one of the 100 hottestprivate companies in the country.Matt can be reached via e-mail atmtucker@rightfreight. com.

1995Class Agents: Scott Shore [email protected]

Mary [email protected]

Kathy Belyeu has recently joinedthe American Wind EnergyAssociation (AWEA), inWashington D.C. AWEA is thetrade association for wind turbinemanufacturers and wind energyproject developers, etc. She worksin the communications depart-ment, promoting the greater use ofwind energy. She is drawing onher utilities experience, havingworked for two traditional utilities

ALUMNI PROFILE

From School to the Motley Fool

The Motley Fool, the irreverent financial website started by two English

literature graduates, made its name questioning the Wall Street status

quo. So why is a Georgetown MBA

working at a company where “the

Wise”, as some of those who hold

business degrees are referred to, are

regarded with suspicion?

As Jill Kianka (MBA’96) puts

it, “I wouldn’t say an MBA makes

you any one type of person.”

It’s precisely this ability to question conventional wisdom that

characterizes working at a company where the mission is “to educate,

amuse and enrich,” and that hires MBAs even as the philosophy of the

company is to turn much of the conventional wisdom preached by gradu-

ates of business schools on its ear.

Kianka was recruited to the Motley Fool in 1995 by fellow alum-

nus Dwight Gibbs (MBA’96), when the company was just a startup. From

doing “a little bit of everything,” she is now chief executive officer of

FoolMart, the e-commerce section of the website where Motley Fool

books, stock research and on-line seminars are sold.

As the work environments in Internet companies often are,

Kianka describes working at the Fool as “pretty intense.” Yet she has

worked at the Fool for five years, a lifetime in terms of loyalty in most

Internet companies.

“The Motley Fool isn’t about ‘let’s do an IPO, get rich quick, and

then leave,’” she says. “It’s about building a company that lasts, getting

the right people in place, and building a structure that makes sense for

the long term.”

The Motley Fool is obviously doing something right — the

Washingtonian recently named it one of the best companies to work for

in the D.C. metropolitan area. “The people are what make it amazing,”

says Kianka. “

Kianka believes the culture at Georgetown made the transition to

the Motley Fool natural. “At Georgetown, we had a strong emphasis on

teamwork,” observes Kianka. Just like school, there’s a wide range of

people at the Fool. Each of us supports the company with the differ-

ent skills we bring.” ❧ Elizabeth Shine (G’99)

MBA

(one Japanese, one American)since graduation. Kathy says, “I amreally excited to be working on therenewables side of the debate now.And since the technology that isused for wind power is really start-ing to take off, there is a lot for meto do here.”

Eddie Boehme lives inWashington, D.C., and is workingfor MCI Worldcomm as a tarriffguru for long-distance carriers.

Katie Bauersfeld moved to SanFrancisco, Calif., to accept a posi-tion as management supervisor atMiller/Huber RelationshipMarketing. She lives 10 blocksfrom Pamela Caldwell andMartina Ehelers.

Steven Bones is leavingConnecticut to work for adot.com in San Francisco, Calif.

Tony Corsello recently moved toSeattle, Wash. He still works atGE Capital. One person who has“gone west” without moving to adot.com. At last report, Tony wasin good health and was ready forthe move.

James Creigh (JD/MBA) andwife Vicki had a second child,Thomas O’Connor Creigh, inFebruary 2000. James is a corpo-rate lawyer with Wilson SonsiniGoodrich & Rosati, in Palo Alto,Calif. You may reach him [email protected].

Allison Daly-Van Dyke hasstarted a new Internet companyproviding data survey informa-tion.

Bruce Dincin has bought ahouse, is getting married toBeth Madorsky, and started anew job – all within 6 months.


ALU

MN

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OTE

SSteve Genn and his wife Juliehad their first child, ZacharyBenjamin, on December 13, 1999.They live in Chevy Chase, Md.Steve is a manager at ArthurAndersen.

Melissa Gilliland is now workingfor Tanqueray in marketing andjust bought a house with her hus-band in Connecticut.

James Healy is living in NewYork City. He recently sold themedia company he founded.

Andy Libuser was promoted todirector of Internet product man-agement at Sprint.

Kui Nakamura and his wife are starting an Internet furniturebusiness.

Anne Robison continues to workin the motion picture industry forNRG – the premier marketresearch firm. If you’ve filled out aquestionnaire at a research screen-ing in the last four years, it wasprobably Anne’s questionnaire. Shelives in the North Hollywood ArtsDistrict and is dating a movie pro-ducer. Anne is looking forward toher walking tour of Ireland inSeptember.

Steward Ross married this pastfall. He and his wife Tammy areboth living in New York City,where Stewart is working in theexecutive search industry.

Lisa Gleicher Sanderson had ababy girl, Emily Aileen, in April2000.

Carrie Sauer was promoted togroup manager of Internet market-ing at Sprint. She completed herfirst marathon, the Marine CorpMarathon, in Washington, D.C.last fall.

With a year of GeorgeWashington University’s law schoolunder his belt, Tim Doyle hasjoined Sterne, Kessler, Goldstein &Fox, a mid-sized intellectual prop-erty law firm. He is learning towrite patent applications and is amember of the firm’s electronicsgroup.

Bob Gabriel was lured fromSmith Barney into the dot.comworld by privately-held IXICorporation. A database-market-ing company in McLean, Va., IXICorp. provides clients with market-share measurement, corporatestrategy, and wealth-targeting toolsover the Internet. He and wifeMegan are happily raising theirthree children — Margaret (6),Will (3), and Honor (1).

Timarie Kilsheimer recentlyjoined Digex, Inc. as its channelmarketing manager.

Jim Mooney, wife Lisa, and sonJames are leaving New York toreturn to Boston, Mass. Jim will betaking an analyst position with aprivate investment firm.

Constantine Potamianos(JD/MBA) was practicing corporateand securities law, but recentlydecided to part ways with the law.He recently joined Common-wealth Associates, L.P. as a vicepresident in their investmentbanking group. Commonwealth isa merchant banking and venturecapital private equity firm focusingon investing in startup and emerg-ing technology companies. Hewould love to hear from anyGeorgetown MBAs who are alsoin the New York area (or just visit-ing) and would encourage anyonein the market for technology com-pany financing to drop him an e-mail at [email protected].

Jennifer Sheehy is on a WhiteHouse task force to promoteemployment opportunities for dis-abled Americans. Soirées, congres-sional hearings and White Housemeetings are now the norm forJennifer.

Scott Shore left Heidrick andStruggles and is working forPricewaterhouseCoopers.

Samantha Tarlton was marriedin September 1999. She alsorecently changed jobs and is nowdirector of marketing for a busi-ness-to-business electronic mar-ketplace, SupplierMarket.com, inBoston, Mass.

Mary Theisen recently left TysonFoods after five years in brandmanagement. She is now a brandmanager at Starbucks, serving asthe strategic liaison betweenStarbucks and Kraft Foods fortheir grocery and wholesale part-nership. She enjoys the uniquechallenge of managing theStarbucks brand in a new channeland bridging the organizations ofthese two marketing powerhouses.So pick up a bag of StarbucksCoffee at your neighborhoodSafeway! Mary has lived in Seattlefor the last three years, and lovesthe area. She has adopted the“mountains to sound” lifestyle, andhas learned to sail and cross-coun-try ski. She also plays in a racquet-ball league, where her opponentsare as fierce and competitive as herGeorgetown opponents EliMendoza, Mitch Remy, KevinWrathall and Mimi Yeh.

Rob White and wife Kerry had alittle boy, Patrick, on December17, 1999. Rob is working for theinvestment banking group atPricewaterhouseCoopers.

1996Class agents:Leslie Blair [email protected]

Tim Doyle [email protected]

Julie Jaoudi [email protected]

Jill Kianka [email protected]

Miriana [email protected]

Ashley Allen recently joined TheWomen’s Growth Capital Fund, aWashington, D.C.-based venturecapital firm that invests principallyin women-owned and women-managed companies. The firm alsomanages WomenAngels.net, thefirst all-women “Angel” investmentfund in the U.S. She encourages allGeorgetown MBAs (especially thegals) seeking capital for new busi-ness ventures to send her an e-mailat [email protected]

Sonny Bhatia and TheresaPreslik were married on April 15,2000.

Durga Bobba married GeetikaBohil on March 25, 2000. Thewedding was attended by class-mates Bob Ryan, Chris Tiscornia,Razi Karim, Joe Mohan, Ken andPam Cruse, Pedro Herrera,Wendi Norris, Dwight Gibbs,Bernie Cooney, and MarkEckrote.

John Dearing recently passed thecertified financial analyst exam andis the project manager at VirtualStrategies, Inc., a Washington,D.C.-based mergers and acquisitionfirm. He lives in Arlington, Va.

Alumni NOTES


Last fall, Brian Powilatis becamea partner in the financial servicesindustry practice at MercerManagement Consulting inWashington, D.C. He and his wifeJoyce live in Old Town Alexandria,Va.

1997Class agents: Rochelle Cheng [email protected]

Andrea [email protected]

Jane Oyugi [email protected]

Megan Mulvihill [email protected]

Rochelle Cheng, class agent, ismanager of corporate finance atCisco Systems in California.

Tod Reinert is still in the U.S.Navy. He was promoted to com-mander, and has relocated toTurkey with his family, where heworks as the Navy foreign militarysales officer under AmbassadorMark Parris (F’72). He welcomescorrespondence at [email protected], and invites guests tovisit him in Turkey.

Robin Young has moved to ElSalvador on a three-year assign-ment for her company,Development Alternatives Inc.,working on a rural microfinanceproject.

1998Class Agent: Brian [email protected]

Marilyn Dement works forTheSilentAuctioneer.org, an onlinenot-for-profit organization thatprovides e-commerce fundraisingsolutions for charity events.

Damon Griggs works for ArthurAndersen in their telecommunica-tions consulting practice, and iscurrently staffed on a projectinvolving Qwest Communications.He says he greatly misses hishousemates at Georgetown –Mark Maruszewski, NathanRichardson and Brian Knox.

Raj Khoka married Gauri Sohoni(MBA ‘99) on December 27, 1999,in India. Violeta Velazquez(MBA ‘98) attended the wedding.

Bill McDonald is continuing hiswork with IBM’s internal transfor-mation consulting unit, specializingin e-business strategy consulting.

Nathan Richardson leftCitiGroup and joined a start-up inSan Francisco, Calif., dotbank.com,where he specializes in businessdevelopment. Soon after he joined,the company was acquired byYahoo!

Jeff St. Claire joined theRobertson Stephens technologyinvestment banking practice in SanFrancisco, Calif.

John Venusti has joined Chase asan equity research analyst for thetelecommunications industry.

Steve Woo has been working foriXL, a web development company,where he focuses on online market-ing and website development. Hiscompany was recently featured inThe Washington Post.

1999Class Agents:Mike [email protected]

Jose Luis Bedolla [email protected]

MBA

ALUMNI PROFILE

When It Comes to Diplomacy, Alumnus Means Business

J. Richard Fredericks (B’68) and his son

Matthew hiked “a big chunk of the middle

part of Switzerland” two years ago. Now

Fredericks is tackling different terrain — this

time as U.S. ambassador to Switzerland

and Liechtenstein.

Appointed last year, Fredericks

comes to the position with 30 years of

experience in the brokerage industry, commercial banking and

investment research, including business dealings with the Swiss

banking industry.

These skills have already proved valuable. “The Swiss

economy was lethargic in the 1990s,” notes Fredericks. “Relations

between [the U.S. and Switzerland] were strained due to Holocaust

asset issues. Hopefully, my presence can help move relations forward.”

With a firm grasp of economic issues pertinent to both

countries, Fredericks has capitalized on the momentum created by the

U.S.-Swiss Joint Economic Commission (JEC), proposed by Vice President

Al Gore and Ruth Dreifuss, former President of Switzerland, last year.

Eight days after Fredericks’s appointment, JEC held a kick-off meeting at

which the two countries agreed to work together on more open trade,

southeastern European issues, and international economic crime.

Fredericks has also brought his expertise in the technology

arena to bear on his diplomatic responsibilities. In the early 1980s,

he raised money for E*TRADE, and bought and sold dot.coms as an

investment banker. Working with the JEC, Fredericks helped to

organize the Conference on e-Commerce, held June 5-6 in Zurich. The

conference brought together key industry spokespersons to address

e-business trends.

Closer to home, Fredericks notes that “one of my goals has

been to webify the embassy.” His Internet handiwork can be seen at

www.usembassy.ch.

Fredericks looks back on his experience at Georgetown with

enthusiasm. “Georgetown is a great launching pad for whatever you

want to do,” he says. “We were blessed by the classmates we had.”

❧ Lynn Cothern


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SIEMBA

1996Class agent: Thom [email protected]

Kris Bell and her husband Terryhad a daughter, Anna McKennzie,in August 1999.

Mark Bloom and his wife Jill hada daughter, Lindsey Hendricks, inOctober 1999.

J.C. Boggs is of counsel in thegovernment relations departmentof Blank, Rome, Comisky &McCauley, a Washington, D.C.law firm.

Ben Cass left AndersenConsulting to joined SIEBELSystems.

Bill Harrison has switched to theproject and structured finance divi-sion of the U.S. Export-ImportBank.

Terrell Mellen joined Cushman &Wakefield’s commercial brokeragegroup’s Washington office.

1997Class agent: Lynn [email protected]

IEMBA IIs are doing a great jobof keeping in touch via e-mail. Ifyou’re not on the group e-mail list,please inform me at [email protected] or [email protected]. Best wish-es to the new parents in the class:Eric Sklar, Michele YoungBarnum, Bill Grove, KurtGastrock, Bob Johnson, KevinPitts, Sally Buzbee, and ClarkBeyer. Are there any I’ve missed?Let me know!

It seems like just about everyone inthe class has made a career transi-

tion by now, except for me! I’m justtrying to “vest in peace” now thatTelogy is a part of TexasInstruments. I’ve also been keepingbusy raising money as class presi-dent and agent of my Lehighalumni class. I raised more than$50,000 from my fellow Class of‘85 alumni, including 17 gifts rang-ing from $1,000 to $5,000, andhave been invited to sit on Lehigh’sNational Giving Committee. Gee,just think what I could raise for theMcDonough School from a bunchof successful Georgetown IEMBADeuxs! (Be forewarned!) Keepthose e-mails coming!

Were you unhappy with the picksat this year’s Emmy Awards?Blame it on Robin Abraham! Yes,our very own Robin is now anactive voting member of theAcademy of Television Arts &Sciences.

Marcel Bahro is also getting in onthe start-up action — inSwitzerland! In January, he found-ed a management consulting com-pany together with a doctor and alawyer. The focus of their businessis primarily on the health carearena. Marcel is still chief, divisionof geriatric psychiatry at theUniversity of Berne PsychiatricDepartment. He also does researchfinancially supported by the SwissNational Science Foundation.Drawing on his IEMBA experi-ence, Marcel also recently initiateda postgraduate management educa-tion program for medical doctorsin collaboration with a private busi-ness school in Berne.

Clark Beyer is serving as directorof business development atdiCarta, which provides business-to-business contract and revenuemanagement solutions, primarilyfor tech companies. He is responsi-

ble for diCarta’s partnership andnew market entry efforts. Like EricSklar’s deal, this one sounds well-connected, with Sequoia’s DonValentine on the board. Clarkreports that he, Gretchen, andBrooke are settling into their newhome in Los Altos, Calif.

Lucy Reilly Fitch has leftLockheed Martin to be vice presi-dent of acquisitions and strategy atBAE Systems North America.Many local D.C.-based alumnienjoyed a party at Lucy’s newPotomac manse a while back.

Bill Grove left AndersonConsulting to join Appnet, wherehe built a ‘boot-camp’ for the newhires that will double the compa-ny’s headcount by year-end. (Yes,that military training does stillcome in handy!) He will start anew post as a project manager run-ning Internet application develop-ment projects with clients such asFortune 2000 companies, non-profits and dot.com start-ups. TheGroves are now up to three littleones, with the birth of a little girl(Haley) in July 1998.

Bob Johnson is still atPricewaterhouseCoopers (PwC).He just landed a new assignmentin e-business, where he is incharge of building a new e-SCMbusiness within his practice. Henow is devoted full-time to e-business. He reports that he’s “lov-ing it … but am traveling a lot,upwards of 70 percent.” I canvouch for that, having bumpedinto Bob at more technologytradeshows than any other personI can think of ! On the personalfront, his son Andrew is now 19-months old and the whole familyjust got back from a week at WaltDisney World. Bob reports that“Joanne and I learned first hand

the truth of an old adage thatwhen your number of childrenincreases beyond a total of two, theparents have to shift from “man-to-man” to “zone” defense.”Joanne, in an irony only IEMBAII’s could appreciate, now worksweekends as a music teacher for …Gymboree (who can forget SusanMcVay’s fantastic delivery of theGymboree analysis?). Bob reports,“I told her it’s a great companywith sound financials and a greatstrategy, but I don’t think that’swhat convinced her to work there.”As if he’s not busy enough, Bob isstill spending some time recruitingGeorgetown MBAs for PwC.

Those of you who have time toread (and from the looks of someof your travel schedules, therearen’t too many of you) may haveseen Suzanne Kaiser’s byline inseveral international publications.Suzanne graduated from theColumbia Graduate School ofJournalism in May 1999.Congratulations, Suzanne!

David Klatt recently left Black &Decker. Since 1986, he has over-seen global product developmentat the company. In his last year atthe company, he increased divisionsales over 20 percent and grewprofit over 50 percent while serv-ing as vice president/general man-ager of the U.S. consumer divi-sion. Klatt was also responsible forglobal product development andserved as chairman of a joint ven-ture focused on manufacturingand engineering with a companyin China. He has now taken thereins as chief executive officer ofstart-up AirClic in Pennsylvania’s“Philicon Valley.”

Michael McCarthy recentlyaccepted a position as a principalin the private client group of Lend

Alumni NOTES


Lease Real Estate Investments.This an Australian financial servic-es company focused exclusively onreal estate, with domestic head-quarters in Atlanta and New York.Michael is now commuting toAtlanta, as he is in the process oflaunching a new global propertyfund. He reports that while the5:30 a.m. flight to Atlanta is get-ting a bit old, he is very excited bythe opportunity. “Since DavidKlatt’s mother has opened arestaurant in Atlanta, I have some-where to go for home cooking,”he points out.

Susan McVay was recently promoted to director of lodgingquality assurance for MarriottInternational. Susan notes that it’sa neat opportunity to combine hertechnical and business skills byusing technology to re-vamp thequality assurance process for thehotel brands.

Congratulations to Scott Phillips,who was recently married toMartina. Scott reports that he andhis Czech bride are both greatlyenjoying marriage and living in SanFrancisco, Calif. Ever the traveler,Scott is looking forward to anupcoming four-month leave ofabsence, which will be spent travel-ing through Europe.

Eric Sklar, founder of BurritoBrothers in Washington, D.C., islaunching another business, info-haze.com. He is raising capital fora planned launch of this newInternet company in late summer.Eric also is serving as a vice presi-dent of TechNet, a Silicon Valleylobbying organization, which hedescribes as designed to “get theValley in the political game.” Giventhat this group was started by JohnDoerr, Jim Barksdale, and JohnChambers, I somehow doubt that

Eric will have many problemsdrawing support. Eric reports thathe is having the time of his life.

Congrats to Maria Sheehan, whohas joined Hill & Knowlton as amanaging director.

Bruce Spencer is now living onthe East Coast and serving as afinancial advisor to the company heworked for in Guam. At this point,he reports that he is “basicallydoing my own thing.” Bruce hastaken on a couple financial adviso-ry/consulting projects. He is con-sidering full-time and entrepre-neurial opportunities, but is verymuch enjoying the free agency.Bruce reports that he is lookingforward to getting together witheveryone soon.

1998 Class Agent: Debbie [email protected]

Terri Burchfield left Capitol Hilland is now manager, corporatedevelopment for Proxicom inReston. Her e-mail address [email protected].

Joe Carlin works at ArgonEngineering Associates. He recent-ly moved to Ashburn, Va.

Joanne Coffey is now marriedand has a baby boy. She is direc-tor of finance at ExcaliburTechnologies Corp. Her e-mail isjhannafin @excalib.com.

Amr ElSawy is now senior vicepresident at MITRECorporation. His e-mail addressis aelsawy@ mitre.org.

Bob Fragola left Bell Atlantic to join a startup. He is vice pres-ident of Cambrian Communica-tions. He can be reached atrfragola @aol.com.

IEMBA

ALUMNI PROFILE

Tuskegee Airmen Honored By MBAs, Undergraduate Business Students

During Wall Street internships with Credit Suisse First Boston (CSFB)

last summer, undergraduates Kalsheila Brown, Blythe Edwards,

Tonya Adison, and Sacasha Brown (all B’00) first heard about the

Tuskegee Airmen when retired airman Colonel Harry A. Sheppard

described their many professional, civic, and personal successes. The

airmen, the first class of black military pilots in the United States,

fought during World World II, and never lost a bomber.

Graduating from segregated training, the airmen completed

1,578 missions in the aerial war over North Africa and southern

Europe, receiving 95 Distinguished Flying Crosses and many other

citations. Despite adversity, Sheppard “emphasized that everyone

should always perform at their best,” said Kalsheila Brown, who

now works at Morgan Stanley Dean Witter & Co., New York. “We

thought Georgetown students could draw from his experience.”

The students organized “A Legacy of Achievement: The

Tuskegee Airmen” with the help of Inga Riggins (MBA’00), then

president of the Black MBA Association. The event, sponsored by

the McDonough School, was held January 24 at Gaston Hall.

Addressing the business school audience, Sheppard said that

the men he had worked with were the most “ambitious, deter-

mined, and cohesive group I have ever come to know.” The airmen

were expected to fail, he added, but that they were “determined to

make the experiment fail on their doubter’s part, not their own.”

Lloyd Campbell (B’79), CSFB managing director and

Sheppard’s nephew, introduced his uncle. Campbell’s father and

three uncles served as Tuskegee Airmen. He presented a donation of

$25,000 from the bank to the Airmen’s educational fund, which

awards more than $60,000 in scholarships a year to deserving stu-

dents throughout the country regardless of race or gender. ❧


ALU

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SMichele Franck moved toGermany soon after graduationand has been promoted to vicepresident of the structured financedepartment at BayerischeLandesbank. She can be reached ather home e-mail:[email protected].

Mark Gage is a manager atWhitney, Bradley & Brown, Inc.His work e-mail is [email protected].

After a three-month honeymoonwith new wife Karen Severy, ErikGaull is back at TriData. He andKaren bought a fabulous house onPotomac Avenue, overlooking theriver, near Chain Bridge, in D.C.He can be reached at [email protected].

Andre Gamrasni is now workingfor Lockheed Martin in their D.C.office. He can be reached [email protected].

Kimberly Higgins has moved toIBM, where she is doing govern-ment enterprise software sales andsays she is loving it! Her contactinfo is [email protected].

Philipp Huber left the D.C. officeof SwissAir and moved to LosAngeles, Calif., to be president ofHallmark Aviation Services.His phone is 310 / 215 0701 andhis e-mails are: philipphuber @hallmark-aviation.com and/or [email protected].

John Justino is program managerof Populations ServicesInternational in Washington, D.C.His e-mail address [email protected].

Bill Kendrick also moved to theWest Coast to take a job withSymantec. He can be contacted [email protected].

Maureen Lalor has taken a newposition as vice-president of busi-ness development at RokuTechnologies Corporation inChantilly, Va. She can be reached atmaureen @roku.com.

Paul LaPorte is chief executive officerand co-founder of a startup,LoyaltyWorks, Inc. (change in processfrom RegistrationVillage.com).Checkit out [email protected].

Ivo Maric describes his newdaughter, Camila, born in Septem-ber 1999, as his “major accomplish-ment since graduation.” He isworking at the Inter-AmericanDevelopment Bank as an informa-tion technology consultant. His e-mail addresses are [email protected] [email protected].

Anu Pahuja is married and livingin New York, where he is still withAndersen Consulting. His e-mail [email protected].

Lenny Park has joined the WestCoast exodus, moving to MenloPark to work for a startup. He canbe contacted at [email protected].

In August 1999, Kamran Sistani-zadeh left his position as chieftechnology officer for Bell Atlantic’sGNI group and moved to SanFrancisco, Calif., to co-found Yipes,a provider of managed opticalInternet protocol networks. He isvice president of network architec-ture and a member of Yipes seniormanagement team.

Elaine Smialek married andmoved to the West Coast rightafter graduation. She is now ElaineKorn and has a baby girl,Madeleine Elizabeth, born inOctober 1999. She is working forOracle, and lives in Redwood City,Calif.

After a year and a half withNetwork Solutions, Inc. inHerndon, Va., where she was amarketing consultant and thenWeb content marketing manager,Debbie Weil has moved toDiscovery.com in Bethesda. She isinternational marketing managerfor Discovery Online International,discovery.com’s 11 global websitesin six languages.

1999Class Agent: Alphonse [email protected]

We all need the next IEMBAhappy hour. Details to follow basedon response.

Liz Blankenship and I are lookingfor money to recapitalize our com-pany. Anyone want to invest in the“odd couple?”

Holly Bradley Brown was pro-moted to chief, strategic planning,at the Defense SecurityCooperation Agency, Office of theSecretary of Defense. She uses hernewly-minted IEMBA skills andconnections on a daily basis. Holly’scurrent focus is on leading theagency’s balance-scorecard effort.

Bruce Burton is working forBooz-Allen. Erin Owens andBruce, last seen working togetheron [in] giant baggies in Mexico forthe final IEMBA IV residency, areat it again. Erin brought Bruceaboard at Booz-Allen to help withthe firm’s international acquisitionsand integration program. Bruce isnow frantically trying to recall keyskills from IEMBA (“financialanalysis,” “organizationalchange,” … “MANAGING THEBOSS”).

We all need to call Marty Carterthe next time we’re in Boston. She’senjoying her position at BostonUniversity – even handing outdiplomas and wearing funny hatsduring graduation.

Jim Dunn is delivering broadbandto Aleut Indians in Alaska.

Richard Eng is currently the man-ager for systems planning forMitretek Systems, responsible fornew business development with anemphasis on e-commerce, Internetengineering and security … and isbeating the pants off fellow projectmanagers by applying the hard-learned lessons from negotiations,marketing, operations and leader-ship classes. All his projects haveearned a 20% plus margin. Keep upthe good work!

Seth Grae reminds us that onMay 22nd he missed ElaineRomanelli’s class when daughterDanielle (now two years old) wasborn on campus at GeorgetownUniversity Hospital. Thanks,Seth, for helping us reminisceroman style.

Neil Gregory is definitely on thetrack … and went back to Chinayet again, this time in the new posi-tion of head of strategy and coordi-nation, South Asia, at theInternational Finance Corporation,where he completed a study onChina’s domestic private sector, tobe published shortly [send it to usfirst, Neil]. He’s been featured onthe front page of The FinancialTimes, interviewed on BBC WorldService (appropriately enough) andBloomberg, amongst others. Hehas a new baby, Philip, born justbefore Christmas. Cheers.

The next rising star is our scientist-turned-businessman,John Gudas.

Alumni NOTES


Todd Harff’s Creating ResultsCompany is rapidly growing (twonew hires). He has the notion thatwe might look into creating aboard of advisers consisting of ourclassmates to IEMBAize eachother’s companies. Yikes!

Alina Koos is now working forNetwork Solutions.

Jon Miller is now living in theNetherlands. He writes, “I amstruggling along, trying to make aliving!” He writes from a verysedate and relaxed location in theNetherlands, in a town calledWageningen, and as fate wouldhave it, the hometown of Prof.Stanley Nollen’s grandmother.

Jon shares “luckily I don’t haveany hedonic pricing problems hereto tackle as yet! The setting is verypicturesque as the town is situatedon the Rhine, which provides awetlands sanctuary in a region dot-ted with horses, cows, sheep anddiverse agriculture reminiscent ofsmall family farms. So I haveretired to the country of anothercountry and life is good!

I arrived here the beginning ofMarch to join my fiancé who isDutch (not Norwegian orSwedish). Katinka studied here atthe University of Wageningen andso I have moved in essence fromone university setting to another.

History abounds here fromBronze Age sites to Roman ruins(canals) and those of W.W.II, withmany emotional reminders includ-ing Dutch liberation day, whichwas celebrated on May 5.

There is a strong remembranceand respect shown by the Dutch tothe British, Canadian andAmerican troops left behind in themany military cemeteries, whichare prevalent in this area of thecountry, which lies betweenUtrecht, Arnhem and Appledoorn.

Away from the tourists andcrowds of Amsterdam, the coun-tryside of Holland is a lush greenand as a result of its flat contour,the sky is always large and stillreminiscent of many of the scenesportrayed in the works of the oldDutch masters.

Happily for me, the weatherhas been unusually sunny and mildand the Abbey beers have beenstrong and cool. An additional plusof this very rational culture is theopen acceptance of you and yourdog in the cafes and pubs. It was apleasure to have my server bringwater and dog cookies for myhusky, Suzie. This is a very dog-friendly country and there is norequired quarantine as long as thevaccinations are as required.

My passion of cigars is alsowelcome here without any assaultby rude gestures or threats on mylife. Although the Netherlandsdoes business with Cuba, I preferthe tobaccos of Indonesia andSumatra as they are light but fullbodied. Why didn’t I come herewhen I was 19, hmmm.”

Mark O’Connell went to Ecuadorlast summer with the family andhiked in the Andes.

Van Riley, the boldest of all of us,upon receiving the illustriousIEMBA diploma, quit his job inPhiladelphia the next day and isfast approaching his one-yearanniversary at DiscoveryCommunications. He bought anew home in Germantown, Md.

Connie Sixta, vice president ofoperations at a hospital inHouston, Texas, is sorry to be sosilent — “have been too busy atwork” – but tells us she’ll write overthe holidays when it slows down.OK, Connie … we’ll wait for theholidays.

Donna Woodall, recently backfrom a fun trip to Brazil and Rio, isstill with MERANT, but moved totheir newly acquired e-businessdivision and is consulting in e-business strategy and analysisunder the title of e-business dev-elopment manager.

Elaine Zuckerman’s internationaldevelopment consultant firm hasstrong demand from other clients,but still is doing well with hermain client, the World Bank. She’sworking hard promoting IEMBAenrollment among potential stu-dents …

Survey: What has your IEMBAdegree done for you lately?

Holly Bradley Brown: “I keepRob Grant’s book, ContemporaryStrategy Analysis, on my desk at alltimes. I also insist others read anduse some of the models in there.For example, I use the “dynamicresource fit” model on almost everyproject. This model allows a groupto address the individual elementsof an issue without having to dealwith a preconceived conclusion,readily highlights were the realdecisions need to be made, anddoesn’t intimidate folks with a lotof b-school jargon.”

Richard Eng: “The greatest bene-fit was having the freedom to testgood, bad, and ugly ideas in class.The people in class always gave mealternative views and ideas to bringback to work. For this I am trulygrateful. I have found that myMBA coursework has helped enor-mously. So my tuition already hasbeen worth it.”

Neil Gregory: “It’s not so muchthe piece of paper as what welearnt. And I have to admit, the‘touchy, feely’ organizational, lead-ership, teamwork stuff is proving asuseful as anything!”

Todd Harff: “As far as the degreeis concerned, I’m using some partsmore than others. We’ve beenmaking a better effort to allocatecosts and to develop and stick toour strategy. Some of the buzzwords, etc. can be helpful, with theright audience. The cache has beensomewhat helpful but hard tomeasure. Would be great ifGeorgetown’s rank improved.However, the most valuable partwas seeing the benefit of being partof a high-performing team.”

Jon Miller: “Currently content inmy recent early retirement frommy University position, I feel that Iam perhaps rested enough to pro-ceed with my next endeavor,embarking on my next career. Ihave a multitude of Internet list-ings, as well as an executive searchservice, at my disposal here.

Anybody doing business in theEuropean Union is here in theNetherlands and that in itself pro-vides many possibilities. As flexibil-ity was Professor Ernst’s motto andmodel for business, I have adoptedit for my life plan and job search.

So, I am hopeful that my IEMBAexperience will give me the edge Ineed to negotiate a senior positionwith a firm which can benefit frommy diverse experience and chal-lenge my proficiency in the skillsand tools which I have importedfrom the Georgetown IEMBAprogram.”

Mark O’Connell: “Still doing thesame old stuff. Have applied forother jobs internally in finance andbusiness-management touting mybusiness school degree, but thesehave been futile. Have not seriouslysearched externally though. Mightdo that eventually.”

IEMBA


Van Riley: “I would not be work-ing for Discovery if I didn’t havethe degree in international busi-ness. I have been able to apply anumber of the marketing, strategyand finance concepts directly toDiscovery’s International strategyprojects.”

2000Class agent: Dan [email protected]

Donna Hamel has incorporatedHamel Enterprises, LLC, Va.Hamel Enterprises (at http://www.hamel-enterprises.com) is acustom software developmentcompany that will initially besubcontracting to prime contrac-tors working for the U.S. govern-ment. If you need a web sitedesigned and developed, or othertypes of database-enabled appli-cations constructed, give HamelEnterprises a call.

Frank Spasaro is the presidentand chief executive officer ofBurningTree Technologies, Inc.,a leading network services con-sulting firm based in Herndon,Va., which he co-founded whileenrolled in the IEMBA program.His company has raised over$600,000 in angel financing andseeks to raise several millionmore in venture capital in 2000.The company serves an interna-tional client base and plans todevelop web-based services, net-work management tools andservice offerings, and expand its

services throughout the U.S.,Europe and Asia. Frank and hiswife, Paula, live in Bethesda, Md.Georgetown students and alummay contact Frank via e-mail [email protected].

Jeff Ward is Lockheed Martin’snew director of business transfor-mation in the company’s newly-established human resource servic-es department. During his elevenyears with Lockheed Martin, hehas held various management and professional positions.

Chris White is heading to Indiaon June 5. She hopes to seeIEMBAs if their travels takethem to New Delhi. (She wouldbe happy to host an IEMBA Vreunion in August, when theweather’s at it’s finest …)Contact Chris at the following:EMAIL: white_ dottavi @hot-mail.com.

Greg Williams, a vice-presidentat iServed.com, wants toannounce that his start-upInternet company just acquiredthe Stars and Stripes Newspaper,a 138 year-old veterans’ publica-tion. Forget AOL and TimeWarner! The new corporationwill be called Stars and StripesOmnimedia and can be found atwww.stripes.com. Greg Williamscan be reached [email protected].

In Memoriam

David Shick (B’01)

David Shick, 20,died on February 22, 2000,at Georgetown University Hospital, after sustaining serious head injuries during an apparent altercation oncampus in the early morninghours of February 18.

At a special memorial mass on February 23, GeorgetownUniversity president Leo J.O’Donovan, S.J. sharedremembrances of Shick,while reinforcing a message of respect, reverence, and healing. Incorporating thewords of David Shick’s mother, Debbie Shick,into the homily, he advised all present to “be kind.”

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2000 msb magazine spring summer

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