fall 2004 - university of michigan

Meet Real Estate Magnate Steve RossMichigan’s Hundred Million Dollar Man

Plus—Alumni Shine in Star-studded Industry

Fall 2004

Dean Robert J. Dolan missed themoment itself, but what matteredmost was making it possible.

Dolan was en route to campus fromDetroit Metropolitan Airport, havingattended an alumni function in Boston thenight before, when he received the callfrom Communications Director CynthiaShaw informing him that the Stephen M.Ross School of Business had been rankednumber one in the annual Wall StreetJournal /Harris Interactive survey ofnearly 3,000 corporate recruiters.

He arrived at the Alessi Courtyardjust after the CNBC cameras departed,having telecast the cheers, high-fives andrenditions of “The Victors” of a crowd ofabout 150 that turned out for the liveannouncement on the crisp, sunny morn-ing of the last full day of summer.

Jonathan Soffin, MBA ’05 in market-ing, one of the students interviewed byCNBC correspondent Phil LeBeau, saidhis mom called him twice while he wason the air. “That was a little weird,” saidSoffin who is from Buffalo. “I could feelthe vibration on my leg.”

It was only the first of many goodvibrations rocking the school that day,culminating in a late-afternoon celebrationunder the portico, much as the number-one ranking was the culmination of yearsof visioning and hard work.

“To me, it’s an affirmation of our basicstrategy,” said Dolan. “Ten years ago, theschool started experimenting with action-based learning. I came here from a casemethod place, and when I saw what waspossible by complementing what studentslearn in the classroom with practicalexperience, I knew this would be a pointof differentiation. We’ll teach you analyt-ical skills, but we’re also going to put youin the field. This is what’s distinctiveabout Michigan.”

The recruiters thought so too. “What

they said they love about Michigan is itsfocus on practical experience,” said WallStreet Journal reporter Ronald Alsop,who reported the story. “At a time whencompanies want their MBAs to be readyto roll the first day on the job, Michigangraduates can do that.”

“They’re living what they have to do,”said Alan L. Cotrone, director of careerdevelopment and academic services.“When the dean clarified our strategy, itbecame very easy to tell both prospectivestudents and recruiters what we stood forand what we’re all about. We made itclear to recruiters what they’re getting.”

“Michigan MBAs do more than takenotes, they take action,” said Kristina L.Nebel, who served as the school’s admis-sions director from January 1999 untilthis August, when she became director ofstrategic planning and outreach for theschool’s Office of Admissions. “It all

comes down to action-based learning.Incoming students know this is the kind ofprogram they’re after—they can co-createtheir Michigan experience, includingreaching into cross-campus opportunities.”

Partnerships with other academicunits, especially the CorporateEnvironmental Management Program(CEMP) shared with the School ofNatural Resources and Environment,also made a favorable impression on therecruiters surveyed. “At a time when cor-porate citizenship has become a hot topic,”

Alsop wrote, “Michigan is farahead of most of its rivals.”

Two other students inter-viewed by the Journal andCNBC, Kate Napolitan, MBA’06, and Nick Cucinelli, MBA’05, are both in CEMP. “Therewas no better fit for me thanMichigan,” said Napolitan, ofCleveland. “I worked for sixyears before coming back toschool, mostly in environmentalcompliance consulting, and I hadcome to recognize that maybethat wasn’t the best way to

make the sort of changes I was interestedin making in manufacturing settings.”

Cucinelli served seven years in theU.S. Coast Guard, then founded a yachtmaintenance and delivery business beforereturning to school. “The only way toprotect the marine environment that’s sodear to me is to reduce our dependenceon petroleum products,” he said. His goalis to get involved in start-ups focused onrenewable energy technology. “I wantedto come to Michigan to get exposure tothe transportation and energy industries,and I’m happy to say I’ve gotten just that.”

Cucinelli was on the air often as a fed-eral on-scene coordinator for oil spillsand hazardous materials releases duringhis Coast Guard days. “That led to a lotof TV interviews,” he said. “This is thefirst one that was really a whole lot of fun.”

Jeff Mortimer

#1-Ranked Ross School of BusinessRocks with Good Vibrations

Students cheer and the camera rolls as CNBCcorrespondent Phil LeBeau announces TheWall Street Journal / Harris Interactive surveyrankings. PHOTOS BY D.C. GOINGS

Dean Robert J. Dolan, right, and students cele-brate in a late-afternoon party under the portico.

T H E M I C H I G A N D I F F E R E N C EC O N T E N T S

F E A T U R E S

DIVIDEND 1 FA L L 2 0 0 4

25 2004 Class GiftA record $539,182 indonations and pledgessignals recent grads’continuing commit-ment to the school.

36 Business School’s MAP: Theory+Practice= The Michigan Difference

Working in teams of four to six, MBAstudents bring ana-lytical skills, the latestresearch findings, andnew approaches tofirms and nonprofits

through Multidisciplinary ActionProjects, the largest action-basedlearning program in the nation.

32 Hundreds Gather to Cheer and Celebrate Historic Gift

“It seems it was only yesterday that I was here asa student,” guest of honor Stephen M. Ross toldmore than 600 people who gathered at HaleAuditorium and in overflow rooms for the surprisegift announcement. “Never would I have dreamt that the school wouldone day bear my name,” says Ross, who credits his uncle, philanthropistand financier Max M. Fisher, for serving as a mentor and role model.

18 University Launches $2.5 Billion Campaign

In May, the Universityof Michigan announcedone of the largestfundraising goals inhigher education, $2.5 billion to supportscholarships, endowed

professorships, academic programs,facilities and other projects.

21 Dean Dolan: AlumniSupport Critical

The Ross School ofBusiness’ strategy tocreate a distinctiveMichigan approach to business educationhas become thecornerstone for

the school’s $350 million campaign,The Michigan Difference: Leading in Thought and Action.

42 That’s Entertainment!Michigan Alumni Shinein Star-studded Industry

There’s no biz likeshow biz for scores ofBusiness Schoolgraduates working inthe entertainmentindustry. Perhaps themost recognizable

name in the field is Robert Shaye,BBA ’60, co-founder and co-chair ofNew Line Cinema, which producedthe Lord of the Rings trilogy. Shayecredits the school with helping himdevelop the skills to turn New Lineinto the success it is today.

46 Executive MBA: A FastTrack to BusinessLiteracy for Busy SeniorExecutives

Michigan’s ExecutiveMBA programprepares mid-careerprofessionals likeformer astronautDonald McMonagle,MBA ’03, Arkansas

Arts Center Director Nan Plummer,MBA ’03, Landmine SurvivorsNetwork Executive Director JerryWhite, MBA ’05, and entrepreneurJohn Kennedy, MBA ’05, to lead andcreate value in their organizations.

33 Plus: Remembering an Extraordinary Day

Photographers SteveKuzma, Peter Smithand Martin Vloetcapture the highlights,emotions andexuberance of theSeptember 9 Ross giftannouncement.

Two Men, One Vision

$100 Million Gift Honors the Past, Looks to the FutureReal estate developer Stephen M. Ross, BBA ’62, whose firm The Related Companies developed New York City’s Time Warner Center, is supporting what he knows best —the creation of new and improved space to enhance DeanRobert J. Dolan’s vision for team-based learning and leadership.Learn about Ross and the motivation behind the largest gift inthe history of the University or any business school.

26

D E P A R T M E N T SI N T E L L E C T U A LC A P I T A L

12 Is America Really Facinga Crisis of Values?

Is the United Statesstraying from its tradi-tional focus—beliefsin religion and God,family values, absolutemoral authority, andnational pride? Is

the gap between conservatives andliberals, between religious Americansand those who eschew organizedreligion a sign that the country is inthe throes of a culture war?

Britain CanadaA

France Iceland

Finland

Denmark

Switzerland

Norway

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Austria

Italy

New

c i a n ProtestantEurope

Belgium

51 Alumni Activities

Club news fromBeijing, Chicago,Mexico, Minnesota,New York, NorthCarolina, Shanghaiand Switzerland.

14 Faculty Research

16 Alumni at Large

Putting More Pop in Tops:

A profile of SandraBeach Lin, MBA ’82,president of AlcoaClosure SystemsInternational.

Connecting Urbanites with Nature:

A profile of Joseph E. Shacter, BBA’82, CEO of the Peggy NotebaertNature Museum.

It’s a Small WorldAfter All for Directorsof Corporate Boards

A tightly woven,resilient network ofdirectors leads the

nation’s largest companies — andspreads ideas, attitudes and practicesamong them, says Gerald Davis.

Plus: Updates on leading change andjudging how we stack up to our peers.

53 Class NotesThe goings-on of friends, classmatesand colleagues.

61 Obituaries

63 Alumni Network Update

C O N T E N T S

D E P A R T M E N T S

11 Quote Unquote

Ross School ofBusiness faculty arecalled upon by themedia to provideexpert commentary on everything frombreaking news to

business trends. Read about who issaying what—and where.

A short news roundup,including BusinessSchool opens center inBangalore...PresidentMary Sue Colemanreceives Women inLeadership Award…

Norbert Schwarz elected to AmericanAcademy of Arts and Sciences…Dream leads to Asia’s automotivemarkets…Medical devices move up the charts…Empowering businessthrough technology…and more.

3 Across the Board


Dean: Robert J. Dolan

Director of Communications: Cynthia Shaw

Executive Editor: Mary Jo Frank

Class Notes and Copy Editor: Fred P. Wessells

Designer: UM Marketing Communications

Photographers: Jennifer Altman, Philip Dattilo,D.C. Goings, Paul Jaronski, Colleen Kelly, SteveKuzma, Marcia L. Ledford, Lorraine Pantic, BillSharpsteen, Peter Smith, Mary Vingerelli, Martin

Vloet, and John Wheeler

Printer: University Lithoprinters

Vol. 35, No. 2: ©2004 Stephen M. Ross School of Business

at the University of Michigan.This publication is produced twice a year by theOffice of Communications and made possiblethrough the generosity of private donations.

For more information, contact Dividend,Stephen M. Ross School of Business,

University of Michigan, 701 Tappan, Ann Arbor, Michigan 48109-1234.

� � �

The University of Michigan Regents: David Brandon, Laurence B. Deitch, Olivia P.Maynard, Rebecca McGowan, Andrea FischerNewman, Andrew C. Richner, S. Martin Taylor, Katherine White, Ex-Officio Member,Mary Sue Coleman, President, University ofMichigan.

The University of Michigan, as an equal opportunity/affirmative action employer, com-plies with all applicable federal and state lawsregarding nondiscrimination and affirmativeaction, including Title IX of the EducationAmendments of 1972 and Section 504 of theRehabilitation Act of 1973. The University of Michigan is committed to a policy of non-discrimination and equal opportunity for all persons regardless of race, sex, color, religion,creed, national origin or ancestry, age, maritalstatus, sexual orientation, disability or Vietnam-era veteran status in employment, educationalprograms and activities, and admissions. In-quiries or complaints may be addressed to theSenior Director for Institutional Equity andTitle IX/ Section 504 Coordinator, Office forInstitutional Equity, 2072 Administrative Services Building, Ann Arbor, Michigan48109-1432, 734-763-0235, TTY 734-647-1388.For other University of Michigan informationcall 734-764-1817.

Stephen M. Ross School of Business Web site:www.bus.umich.edu


INDIA

Business SchoolOpens Center in BangaloreM ore than 175 business executives,

government officials, scholars andmedia representatives celebrated the open-ing of the Michigan Business School’s newCenter for Global Resource Leverage:India in Bangalore on June 17.

The center is located on the IndiaInstitute for Information Technology-Bangalore campus and in close proximityto Infosys and other leading Indian firms,as well as multinational corporations suchas Hewlett-Packard and GeneralElectric. The center represents an on-the-ground commitment by the BusinessSchool to study at the source of next prac-tices in global business, says M.S.Krishnan, the Michael R. and Mary KayHallman Fellow and professor of busi-ness information technology.

About a dozen Business School facultyare affiliated with the center, which is co-directed by C.K. Prahalad, the Harvey C.Fruehauf Professor of BusinessAdministration and professor of corpo-rate strategy and international business,and Krishnan. “We are focusing on nextpractices, not best practices,” saysPrahalad, adding, “The center’s first pri-ority is to isolate issues of great impor-tance for the future and frame them to

create the right debate, both in the busi-ness community and in public policy.”

For a decade, researchers at theBusiness School have studied businesspractices in India and have taught execu-tive education classes to Indian businessmanagers and executives through theschool’s Executive Education Center. Withits physical base in Bangalore, the schoolhas expanded its research agenda andExecutive Education offerings and addeda new project component for students.

For more information about the Centerfor Global Resource Leverage: India, visitwww.bus.umich.edu/ResearchIndia.

MITSUI LIFE

Database Research Tool Unveiled The Mitsui Emerging Markets

Information Source (MEMIS)—anew database that points researchers tofinancial data about firms in Japan andemerging markets—was rolled out at the9th Mitsui Life Symposium on GlobalFinancial Markets: Microanalysis andEmerging Markets at the Michigan

Left to right, Infosys Chairman N.R. NarayanaMurthy and Professors C.K. Prahalad and M.S.Krishnan tour the India Institute for InformationTechnology-Bangalore campus.

Left, Tak Wakasugi, co-director of the MitsuiLife Financial Research Center, and M.P.Narayanan, professor of finance, participate inthe Mitsui Life Symposium.

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Business School this summer. The sympo-sium drew a standing-room-only crowd.

MEMIS contains information about 66databases, from single-country to largeinternational sources. Researchers canquery for as many as 174 variable items

Across the Board

Right, Wayne Brockbank, director of ExecutiveEducation’s new Center for Strategic HumanResource Leadership, welcomes human resourceexecutives to the HR Executive LeadershipConference. PHOTO BY PHILIP DATTILO

across 20 countries, E. Han Kim, directorof the Business School’s Mitsui Life Finan-cial Research Center, told symposiumparticipants. In addition to providing anoverview of information available, MEMISreports the cost for retrieving data fromthe various databases. Learn more aboutMEMIS at www.bus.umich.edu/MEMIS.

In opening remarks at the symposium,Hirokazu Ishikawa, chairman of theboard of the Mitsui Life InsuranceCompany, said the Mitsui Life FinancialResearch Center “provides an excellentopportunity for academic research in thegrowing Asian financial market. Itsactivities are bringing an abundance ofnew ideas and knowledge to the field offinancial management.”

HUMAN RESOURCES

Center of ExcellenceFocuses on Best PracticesHuman resource executives from top

companies across the United Statesgathered in April at the Business Schoolfor a day-long leadership conference onresearch and best practices in the humanresources field, the first to be sponsoredby the Center for Strategic HumanResource Leadership.

The 140 participants at the HR Leader-ship Conference heard presentations rep-resenting the center’s portfolio, includinghow to link strategy to business results,develop effective leaders, manage talentand create market-centric organizations.

The Center for Strategic HumanResource Leadership is one of 10 newCenters of Excellence introduced this yearas part of the next-generation strategy forthe school’s Executive Education programs.

A C R O S S T H E B O A R D

FELICIDADES

School Honors Social Entrepreneur When social entrepreneur Lee

Shainis, BBA ’99, talks about thefounding of the nonprofit organizationIntercambio de Comunidades in Boulder,Colorado, in 2000, it is a classic start-upstory: no cash, a low-tech home office andan idea to meet an unmet social need.

Intercambio’s mission is to reduce thelanguage and cultural barriers that pre-vent native Spanish speakers frombecoming part of the community. Today,more than 300 volunteers teach freeevening and weekend English classesattended by more than 600 Latino adults,ages 17 to 70, and conduct field trips tofamiliarize students with the BoulderCounty community. Intercambio alsoholds workshops and provides resourcesto help Latinos meet medical, education-al, residential and other social needs.

“Intercambio has become my life,”Shainis told students, faculty and otherswho gathered to honor him at a March16 lecture and dinner, where he receivedthe Michigan Business School’sEntrepreneur Award.

Securing initial funding is a huge hur-dle when starting a nonprofit, Shainissaid. During Intercambio’s first year, heworked 35 hours a week at a before- andafter-school program in addition to 60hours a week without pay at Intercambio.The nonprofit, which raised $200,000 lastyear, has two full-time and three half-time employees and an 11-member boardof directors.

To be a successful social entrepreneur,Shainis said, it is important to developplans and timelines and to be efficient,honest and humble. Intercambio volun-teers and staff are encouraged to followthe platinum rule: “Treat others as theywant to be treated.”

Shainis already is thinking about hisnext project: A more effective way tomeasure how business schools and com-panies contribute to communities and tomake that information accessible andtransparent.

KUDOS

Schwarz Elected to AAASM arketing Professor Norbert

Schwarz is to be inducted into theAmerican Academy of Arts and Sciences(AAAS) in October. The AAAS, thenation’s oldest learned society, includesmore than 150 Nobel laureates and 50Pulitzer Prize winners.

Schwarz, who also is a professor ofpsychology and a research professor at theInstitute for Social Research, is an experton human judgment and cognition,including theinterplay offeeling andthinking, thesocially situ-ated natureof cognition,and theimplicationsof basic cog-nitive andcommunica-tive processesfor publicopinion, con-sumer behav-ior and social science research.

Prior to joining Michigan in 1993,Schwarz taught psychology at theUniversity of Heidelberg in Germanyand served as scientific director ofZUMA, an interdisciplinary social scienceresearch center in Mannheim, Germany.

The Cambridge, Massachusetts-basedAAAS was founded in 1780 to “cultivateevery art and science which may tend toadvance the interest, honor, dignity andhappiness of a free, independent and virtuous people.”


Norbert SchwarzSuccessful social entrepreneurs mustdevelop plans and timelines and be efficient, honest and humble, says Lee Shainis.

WOMEN

President ColemanReceives Women inLeadership Award “E very time you convince a young

woman to enter the BusinessSchool, you are doing your part to createthe next wave of leaders,” President MarySue Coleman told members of the audi-ence who gathered to honor her at theBusiness School’s Women in LeadershipAward ceremony held on April 14 inHale Auditorium.

“Leadership means being a leader atall levels of one’s career,” added Coleman,who said as a University of Kentucky fac-ulty member she never anticipatedbecoming a university president. Whenasked to direct the University ofKentucky Cancer Center, Coleman dis-covered she enjoys building programsand raising money. “Things happen inlife that you never expect. Always beopen to new possibilities that make possible a totally different career,”Coleman advised.

On behalf of the Michigan BusinessWomen (MBW) and the MichiganBusiness School Women in BusinessInitiative, BBA MBW Co-presidentsJennifer Lazar and Megan Melvin, bothBBA ’05, presented a crystal vase toColeman, “recognizing achievements thatpromote the success of women in business.”

Left, Jodie Eason, MBA ’05, chats withPresident Mary Sue Coleman following theWomen in Leadership Award ceremony.Constance Cook, director of the University’sCenter for Research on Learning and Teaching,is in the background.

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FACULTY

12 Honored atAwards CeremonyTwelve faculty members were honored

for research, teaching and service atthe Business School’s faculty awards cere-mony held in May.

Gautam Ahuja, PhD ’96, the MichaelR. and Mary Kay Hallman Fellow andprofessor of corporate strategy and inter-national business, achieved the unusualdistinction of winning two TeachingExcellence Awards in one year, from doc-toral students and MBA students. RomanKapuscinski, associate professor of opera-tions and management science, wasselected by students to receive the BBATeaching Excellence Award.

Ahuja and Kapuscinski receivedstanding ovations at spring commence-ment. “Life can’t get any better than thisfrom a teaching perspective,” said Ahuja,who shared two questions his mothertaught him to consider: Did I do the rightthing? Did I do it to the best of my ability?“They are the only exam questions worthasking in life,” Ahuja said.

Also honored for teaching were:� M.P. Narayanan, professor of finance(Executive MBA award)� Gautam Kaul, the John C. and Sally S.Morley Professor of Finance (GlobalMBA award)

Other faculty members honored:� Michel Wedel, the Dwight F. Benton

Professor of Marketing, received theSenior Faculty Research Award forresearch contributions made in the lastthree years and the scholarly signifi-cance of his publications. � Valerie Suslow, associate professor ofbusiness economics and public policy,received the Victor L. Bernard TeachingLeadership Award, which recognizesteaching, work with students and col-leagues, and course design.� Fred Feinberg, the Michael R. andMary Kay Hallman Fellow and associ-ate professor of marketing, was namedthe Bank One Corporation AssistantProfessor of Business Administration.The one-year appointment recognizespromising non-tenured faculty.

� Venky Nagar, assistantprofessor of accounting,was named the SanfordR. Robertson AssistantProfessor of BusinessAdministration. Theone-year named profes-sorship recognizes earlycareer achievement. � E. Han Kim, the FredM. Taylor Professor ofBusiness Administrationand director of the MitsuiLife Financial ResearchCenter and East AsiaManagement, receivedthe Contribution to theResearch EnvironmentAward.

Also recognized wereGeorge D. Cameron,

professor of business law, and MichaelRyan, professor of marketing, who weregranted emeritus status by the Universityof Michigan Regents.

Thomas C. Kinnear, the EugeneApplebaum Professor of EntrepreneurialStudies, professor of marketing and directorof the Samuel Zell & Robert H. LurieInstitute for Entrepreneurial Studies,received the Andy Andrews DistinguishedFaculty Service Award. The award wascreated in memory of Richard W. (Andy)Andrews, associate professor of statistics,who died on May 29, 2002. Kinnear, whoalso has served as chair of the marketingarea, said, “The school has given me farmore than I’ve given to it. I am doublyhonored to receive the award named inhonor of my friend, Andy Andrews.”

TEACHING

Scott Moore NamedThurnau ProfessorS cott Moore, associate professor of busi-

ness information technology and BBAprogram director at the Business School,is one of five faculty members named by theUniversity of Michigan Regents to theArthur F. Thurnau Professorship, whichrecognizes faculty for outstanding contri-butions to undergraduate education.

Moore designs courses in which stu-dents are actively engaged in projectsbased on real-world examples. Studentshave recognized his efforts by awardinghim the outstanding BBA Teacher of theYear Award twice.

Thurnau Professorships, whichinclude $20,000 grants to support teach-ing activities, are named after Arthur F.Thurnau, a Michigan student from 1902to 1904. The professorships are supportedby the Thurnau Charitable Trust.

Michel Wedel, the Dwight F. Benton Professorof Marketing, received the Senior FacultyResearch Award. His research interests includethe application of statistical and econometricmethods to marketing problems and the designof the visual aspects of advertising.

Scott Moore

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Dean Robert J. Dolan, left, congratulates George D. Cameron III, pro-fessor emeritus of business law, on his retirement at the Business Schoolfaculty awards ceremony. Cameron, who joined the faculty in 1971, hasreceived numerous teaching awards. In 1998, the Michigan Daily namedhis course focusing on enterprise organization law the best course oncampus. Cameron also was listed among the school’s outstandingfaculty in the Business Week Guide to the Best Business Schools.

D.C. GOINGS


GLOBAL MARKETING

Vern TerpstraRecognizedV ern Terpstra, BBA ’50, MBA ’51,

PhD ’65, professor emeritus of inter-national business at the Business School,received the 2004 Significant Contribu-tions to Global Marketing ResearchAward from the American MarketingAssociation (AMA) Global MarketingSpecial Interest Group at the 2004 AMASummer Educators Conference inBoston. The award recognizes marketingfaculty members who have made signifi-cant contributions to the advancement ofglobal marketing thought.

Terpstra joined the Business Schoolfaculty in 1966 and retired in 1992. Heserved as chair of International Businessfrom 1977 to 1987. Terpstra taught at theWharton School of the University ofPennsylvania from 1964 to 1966. He haswritten more than 55 books and articles.His textbook, International Marketing, co-authored with Ravi Sarathy, is in itseighth edition. During his career, he hasserved as a visiting professor for institu-tions in the Congo, China, Indonesia,England, the Netherlands and othercountries on three continents.

Terpstra, president of the Academy of International Business in 1970 and1971, was elected a Fellow of the Academyin 1978.

The AMA, with 38,000 members, isone of the largest professional associationsfor marketers, providing resources forprofessional and collegiate chaptersthroughout the United States and Canada.

SCHOLARSHIP

School Celebrates20 New PhDsThe Business School celebrated its

20 newest PhDs and two otherMichigan-trained scholars at the school’sfifth annual Doctoral RecognitionProgram on April 8.

Students presented the PhD TeachingExcellence Award to Gautam Ahuja,PhD ’96, the Michael R. and Mary KayHallman Fellow and professor of corpo-rate strategy and international business.Tridas Mukhopadhyay, PhD ’88, the Deloitte Consulting Professor of E-Business and director of Master ofScience in E-Commerce Program atCarnegie Mellon University, received theDistinguished Alumni Award.

Mukhopadhyay, who also gave thekeynote address, told the graduates schol-arly success hinges on the choice ofresearch problems. “Pick a real-life prob-lem, not one driven by the literature, andyou have the best chance of making acontribution,” Mukhopadhyay advised.

Ahuja expressed gratitude to theUniversity of Michigan. “I am a graduateof this program. Clearly this program didsomething that added value. This awardis about mentoring. We become mentorsbased on how we were mentored,” Ahuja

said. Education is a debt that can neverbe repaid except by providing the samefor others, he added, noting that he triesto create an environment for studentssimilar to what the Business School andUniversity of Michigan provided for him.Ahuja, co-chairperson of the CorporateStrategy and International Businessgroup at the Business School, received theMBA teaching award in 2003.

Izak Duenyas, associate dean for facul-ty development and research, noted thatthe 2004 graduates will be teaching atmany of the top business schools in thenation.

Graduates honored were: NeveenFarag Awad, computer and informationsystems; Brian H. Boyer, finance; MeiFeng, accounting; Marcin Kacperczyk,finance; Christo Karuna, accounting;Irene Y. Kim, accounting; RenátaKosová, corporate strategy and interna-tional business; Nandini Lahiri, interna-tional business; Katherine A. Lawrence,management and organizations; Ying Li,operations management; Sarah E. McVay,accounting; Kiwan Park, marketing;Linda Court Salisbury, marketing;Shalini Singh, finance; AlexanderSleptsov, corporate strategy; MarkusVodosek, management and organiza-tions; Timothy J. Vogus, managementand organizations; Zhi (Jay) Wang,finance; Hong Yuan, marketing; andZheng (Jane) Zhao, corporate strategyand international business.


Among those honored at the Doctoral Recognition Program were, left to right: front row, KatherineA. Lawrence, Mei Feng, Hong Yuan, Neveen Farag Awad, Sarah E. McVay; back row, AlexanderSleptsov, Kiwan Park, Irene Y. Kim, Christo Karuna, Zhi (Jay) Wang, Marcin Kacperczyk, RenátaKosová and Timothy J. Vogus.

Vern Terpstra

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PACIFIC RIM

Dream Leads toAsia’s AutomotiveMarketsWhen Michael Dunne, MBA/MA in

Asian studies ’90, left Ann Arbor forThailand shortly after graduation, he didn’thave a job or promising leads. He did havea dream: to start his own business in Asia.

“I immediately met an abrupt smackdown.” After repeatedly being asked over a six-month period “Who are youand what do you know?” Dunne, now aleading expert on Asia’s emerging auto-motive markets, admits, “I began to havelots of doubts.”

Dunne’s break came when he wasinvited to write about cars in Thailand, areport which caught the attention of asenior Thai government official whohired Dunne to organize a trade delega-tion to visit the United States. On the tripDunne met representatives of Chrysler,Ford and General Motors, which led toassignments from U.S. automakers.

Dunne returned to the Business Schoolin February to share his story as a pan-elist at the 14th Annual Asian BusinessConference (ABC). The ABC attractsmore than 500 students and businessleaders annually, making it the school’slargest and longest-running student-organized conference.

Conference keynote speakers KishoreMahbubani, Singapore ambassador to theUnited States, and Ong Keng Yong, secretary-general of the Association of

Southeast Asian Nations, talked aboutthe warming in Sino-U.S. relations andChina’s desire to develop economically,which has been a boon for Southeast Asia.

“When I look at General Motors inDetroit, I see what someone else has built.Asia offers an opportunity for me to build,”explains Dunne, a Detroit native whosefather writes an automobile column forPopular Mechanics magazine. “My passionis languages, and I love the energy ofAsia,” says Dunne, who is fluent inMandarin Chinese, Thai and French.

In 1993, he founded AutomotiveResources Asia Ltd. (ARA), a marketingcompany specializing in Asia’s automotivemarkets. In 1998, ARA and the Associationof Southeast Asian Nations AutomotiveFederation published the region’s firstdirectory of automotive suppliers.

ARA has an office in Thailand, whichranks second only to the United States inproduction of pickup trucks, and twooffices in China. Dunne predicts China,which ranked third in world automobileproduction last year, will be the second-largest producer of automobiles by 2010and the largest by 2020.

EMERGING INDUSTRY

Medical DevicesMove up the Charts The high-flying medical devices mar-

ket (think joint replacements, pace-makers and stents that keep heart arteriesopen) will skyrocket in the years ahead as it converges with biotechnology,according to speakers at the University of Michigan’s fourth annual EmergingIndustry Symposium.

More than 275 entrepreneurs andinvestors attended the March symposium,MedTech: The Business of Medical Devices,sponsored by the Samuel Zell & RobertH. Lurie Institute for EntrepreneurialStudies at the Business School and theUniversity’s Office of Technology Transfer.

Increasingly, medical devices are mov-ing into traditional drug markets, notedThomas J. Gunderson, senior researchanalyst at Piper Jaffray. Gunderson,named an all-star analyst for medicalstocks by The Wall Street Journal in 1996and 2000, cited new drug-coated stents asan example.

Michael Dunne, founder of AutomotiveResources Asia Ltd., and Linda Lim, professorof corporate strategy and international businessand adviser to the Asian Business Conference

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Historically doctors have treatedpatients with congestive heart failure(CHF), the number-one cost forMedicare, with a cocktail of drugs.Treatment options expanded recentlywhen Minnesota-based Medtronic cameout with an implantable device thatshocks a CHF patient’s heart back into

rhythm, Gunderson said. Researchersalso are working on a pacemaker-typedevice for the brain to treat patients forchronic depression.

Gunderson advised entrepreneurs tomeet with the Food and Drug Adminis-tration (FDA) early when developing anew medical device and learn theagency’s rules for design control andreporting data results. “The FDA hasbecome an essential part of the develop-ment process. It is vital to develop thatpartnership,” he reported.

Stephen N. Oesterle, senior vice presi-dent for medicine and technology atMedtronic, talked about the medicaldevice industry’s critical role in providingsite-specific controlled delivery systems topatients.

The former associate professor ofmedicine at Harvard University MedicalSchool noted medical devices alleviatepain, improve health and extend life, butrarely cure. In the not-too-distant future,intelligent, wireless devices will restoreorgan function, Oesterle predicted. “Thisis the most exciting time in medicine inthe last 50 years,” he said.

Thomas J. Gunderson, senior research analystat Piper Jaffray, discusses the trends and forcesthat will influence the medical devices market.

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“The FDA has become an essential part

of the development process. It is vital to

develop that partnership.”

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FUTURTECH

EmpoweringBusiness throughTechnology“T echnology makes us work

smarter, enhances our customerfocus, provides future growth opportuni-ty and supports sustainability,” UPSChairman and CEO Michael L. Eskewtold several hundred students enrolled inMichigan’s Business School, College ofEngineering and School of Information.

Eskew and Larry Lesley, MBA ’78,senior vice president of consumer imag-ing and printing in HP’s Imaging andPrinting Group, were keynote speakersat the FuturTech 2004 Conference,“Pervasive Technology and the Advantagesof the Informed,” held at the BusinessSchool in January.

UPS, founded as a local messengerservice in Seattle by Jim Casey in 1907, isthe world’s largest package delivery com-pany and a global leader in supply chainservices. UPS moves six percent of theU.S. gross domestic product, more than13 million packages daily. Under Eskew’sleadership, UPS has streamlined opera-tions and expanded its capabilities intonew lines of business that complement itsglobal package delivery operations. UPSoffers firms everything from multi-modeltransportation services to supply chainconsulting and financial services.

Business strategy drives technology,Eskew said. Among the examples he cited:

� 93 percent of packages that UPS

delivers are “smart”—electronicallycoded so they move through the sys-tem from sender to delivery by a UPScarrier without additional sorting.Technology allows UPS to vary routesbased on volume and load trucks fasterand more accurately. UPS’ ongoing $1 billion annual investment in tech-nology has worked. Customers canenter identifying information neces-sary for billing, delivery and trackingvia the Internet. Six years ago, it costUPS $2 each time a customer called totrack a package. Today it costs 1.5cents to track a package online, Eskewnoted, “and service is better.” � UPS’s 360,000 employees no longerfill out time cards. Instead, they use akey-entered system. Checks are cutelectronically and transferred intoemployees’ accounts, enabling UPS tocompletely automate payroll.� Malis-Henderson of Montreal, whichmanufactures bridal veils and head-pieces, used UPS technology to over-come delivery delays, expand its U.S.market and shorten its cash cycle from30 days to three days.� Best Buy moved laptop warrantyrepair out of its stores to an on-callservice parts and replacement center,eliminating long customer servicelines. In the future, Eskew said, BestBuy customers will be able to drop offtheir computers for repairs and pickthem up at a UPS store.

Innovation and investment in intellec-tual property also will sustain growth atHP, predicted Lesley, who noted that HPdeveloped or bought 1,000 patents last year.

SUPER SIZE

Big Firms Offer Leg UpG o to a big company, David F.

Dougherty, BBA ’78, counselsMichigan Business School students andnew graduates.

Dougherty, executive vice president ofglobal information management forConvergys, participated in the Dean’sSeminar Series in March. Seminars givestudents opportunities to talk with suc-cessful alumni about business issues ofthe day and career development.

Convergys, with $2.3 billion in revenues


UPS Chairman and CEO Michael L. Eskew,center, shares a break with FuturTechConference co-chairs Susan Winslow Tahir andBen Silverman, both MBA ’04.

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in 2002, provides worldwide business pro-cess outsourcing in the areas of customerservice, human resource service and inte-grated billing. The outsourcing market,estimated at more than $1 trillion, is hugeand growing, said Dougherty, who describedConvergys as a “stealth company servingmajor Fortune 500 corporations. Theydon’t want their competition to knowwe’re doing work for them. They wantto retain their competitive advantage.”

He acknowledged that outsourcing is aserious public relations and political issue.“However, big companies must lower costs.When we do it, the profits come back tothe United States,” explained Dougherty,who added that about 85 percent ofConvergys’ approximately 55,000 employ-ees work in the United States. Lookingahead, Dougherty predicted that finan-cial services and healthcare are the nextareas to benefit from the cost cutting andorganization resulting from outsourcing.

Before joining Convergys 14 years ago,Dougherty worked for Procter & Gambleand for LensCrafters Inc. Launching acareer at a large firm is smart, he said,because “you learn things you’ll never learnin a small company in terms of communica-tion skills, data analysis, financial disciplineand managing people.” For example, disci-pline and procedures such as performingpersonnel reviews every six months are builtinto the Procter & Gamble organization.

Dougherty also warned against tryingtoo hard to manage one’s career. “Life islike a golf swing. The harder you swing,the worse the results.” Instead, he recom-mended, “keep your head down andfocus on how you can help the companybe successful. Stay focused on the job.”

To be a leader, you must have a team, headded, which means sometimes following.“I routinely look to see if someone workingfor me is more qualified to do somethingthan I am and tell them ‘you are the leader.You tell me where I need to be to help.’”

David Dougherty



RELATIONSHIPS

Think About Your People “The first thing in the morning,

after I walk the dogs and workout, I think ‘What are my people work-ing on?’ The most important thing to dois to think about the people who work foryou. Are they engaged, active, workinghard, occupied, busy? No one has everquit,” Michael J. Levitt, BBA ’80, toldMichigan Business School students at aDean’s Seminar this spring.

Levitt, who worked as an attorney,investment banker and investor beforebecoming an entrepreneur, shared theprinciples that have guided his career:hard work, focus, relationships, serendip-ity, building businesses, having fun, andbalancing business and personal life.

In addition to being chairman of StoneTower Capital LLC, with over $500 millionin managed assets, Levitt has been a mem-ber of the board of directors of the Make-A-Wish Foundation of Metro New Yorkfor eight years and chairs the advisoryboard of the Make-A-Wish Foundationof America. He also is on the board of theNew York Police and Fire Widows’ andChildren’s Benefit Fund Inc. and a direc-tor of IDT Corporation. At Michigan,Levitt serves on the Business School’sCorporate Advisory Board and on theUniversity’s Investment Advisory Board.

“It’s important that your job be engag-ing. Pick a career you find interesting andfascinating,” he advised. As an attorney,Levitt found that with “endless hours” ofwork he and co-workers “established areputation” and gained “valuable, trans-

ferable experience” as counsel to KKR,Ted Turner, Drexel and cable televisionclients.

As an investment banker, Levitt found“better but still endless hours” at MorganStanley and later Smith Barney. Clientsincluded Viacom CEO Sumner M.Redstone, Citigroup Chairman SanfordWeill and Saudi Prince al-Waleed.

In his investment career, Levittbecame a principal rather than an agent.Together, Levitt and his colleagueshelped build businesses, as at Hicks,Muse, Tate & Furst, where they broughtin profits of $800 million on investmentsof $250 million.

As an entrepreneur and sole owner ofhis company, Levitt brings yet a differentperspective to business: “What are thereturns, not what are the fees?” He con-cluded, “Relationships are portable. If youhave good relationships, opportunities willpresent themselves. Work hard and enjoy.”

HONORING KING

Civil Rights LeaderPromoted Justice,EqualityN onprofit organizations need look no

further than the late Martin LutherKing Jr. and the Southern ChristianLeadership Conference for a blueprintfor success, says Deborah Brittain, imme-diate past president of the Association ofJunior Leagues International.

King used his mind, mouth and moneyto promote a vision of justice and equityfor all in his “beloved community,” notedBrittain, whose January 14 Martin LutherKing Jr. lecture was sponsored by theBusiness School and Michigan’s Nonprofitand Public Management Center. Thecenter is a collaboration of the BusinessSchool, the Gerald R. Ford School ofPublic Policy and the School of SocialWork. Earlier in the day, Brittain spoke to students enrolled in Strategic Manage-ment of Knowledge in ProfessionalService Firms, an upper-level undergrad-uate course taught by Lynn PerryWooten, assistant professor of corporatestrategy and international business.

Effective nonprofit organizations sharethe following characteristics, Brittain said.

Mission. The group’s mission must beclear, concise, compelling and well

understood so insiders are proud of whatthey are doing and others support theorganization’s activities.

Strong leadership. A nominatingprocess must match talents with organi-zational needs.

Strategic thinking and programs.Activities and services of the highestquality must reflect strategic thinkingand produce measurable results.

Communications. Internal and externalcommunications must be relentless sopeople within the organization under-stand how their efforts fit into the wholeand others want to contribute.

Branding and image. This is one areawhere many nonprofits fall short, saidBrittain, adding, “If you have a good brandand image, it says you do good work.”

Technology. The latest technologymust be used at every level, from mem-bership and finance to public relations, to save time and money.

Nonprofits also must pay close atten-tion to such basics as sound budgeting,updating bylaws, building links with thecommunity, and recruiting and retainingmembers, Brittain said.

The veteran nonprofit leader encouragedaudience members to use their minds toassess their organization’s mission andvision, analyze trends, establish interimand long-term goals, and monitor andevaluate progress so the nonprofit can“change by design.” Volunteers and paidstaff also must use their mouths to contri-bute to discussions and ask for resources,Brittain said, and support the organiza-tion’s work with their money and time.

Deborah Brittain, center, talks with DianeKaplan Vinokur, left, associate professor ofsocial work, and Lynn Perry Wooten, assistantprofessor of corporate strategy and internationalbusiness, following Brittain’s lecture honoringthe late Martin Luther King Jr.

Michael Levitt talks informally with studentsfollowing his Dean’s Seminar presentation.

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PEWABIC POTTERY

Marking a MilestoneThe discovery by Michigan Business

School Dean Robert J. and KathleenDolan of an architectural link betweentheir Ann Arbor home and Detroit’s his-toric Pewabic Pottery led to the designand production of a distinctive gift formembers of the Class of 2004. Each graduate received a light-blue, four-inch-square Pewabic tile.

The tile with Pewabic’s patented matteglaze bears an imprint of the BusinessSchool’s brand mark on the front and theyear, Pewabic Pottery’s stamp and aPewabic centennial stamp on the back.The Business School tile also will begiven to visiting dignitaries and speakersas a token of appreciation.

In addition to recognizing outstandingacademic achievement, the tile symbol-izes a century-long friendship betweenthe University and Pewabic Pottery, notethe Dolans, who spearheaded the com-missioning of the tile.

Pewabic Pottery was founded by thelate Mary Chase Perry Stratton andHorace Caulkins at the height of the Artsand Crafts Movement. The studio gainednational acclaim for its tiles, vessels,architectural ornamentation and jewelrywith unusual iridescent glazes. Strattonalso founded the University’s ceramicsdepartment.

Tile and other Pewabic pieces arefound in public and private spacesthroughout Michigan: the University ofMichigan Museum of Art, churches,commercial buildings and residences,including the Dolans’ home. When

Kathleen Dolan, who serves on theBusiness School’s art committee, beganresearching the home’s architectural his-tory, she discovered that Mary Stratton’shusband, William Buck Stratton, was thearchitect. He also designed the PewabicPottery studio, a National HistoricLandmark.

COMMENCEMENT

“My Head ServesMy Heart,” StewartTells Graduates“Skill combined with passion will

sustain you,” Fannie MaeFoundation President and CEO StaceyDavis Stewart, MBA ’87, told membersof the Class of 2004 at the BusinessSchool’s spring commencement. Morethan 900 students were honored at theApril 30 ceremony in Crisler Arena.

The global economy will reward thosewho take risks and have the preparationand passion to do non-routine work, saidStewart, who has served as head of thecountry’s largest foundation devoted toaffordable housing and communitydevelopment since 1999. The BusinessSchool’s interdisciplinary curriculum,outstanding professors and Dean RobertJ. Dolan’s leadership are giving Michigangraduates the skills that this economywill reward, predicted Stewart.

Although her passion provides direc-tion for the Fannie Mae Foundation,Stewart said it is preparation that enablesher to pursue her vision effectively.“When necessary, I can be a detached

numbers geek. And I can speak withauthority about the economic conse-quences of policies that are unfair towomen and minorities and people at thelower end of the economic scale. My headserves my heart. I am one of those luckypeople who can go home each night feel-ing good about what I do,” Stewart said.

John Madigan, BBA ’58, MBA ’59,received the David D. Alger AlumniAchievement Award for his professionalaccomplishments. Madigan retired aschairman and CEO of the TribuneCompany in 2003. He joined the TribuneCompany in 1975 as vice president andchief financial officer and went on tobecome president of the firm and pub-lisher of the Chicago Tribune. Madigansaid he had no idea what he wanted to dowhen he graduated. “I never thought ofthe media business.”

Madigan recommended students retaintheir optimism, observe people who aresuccesses and underachievers to see whatmakes them succeed or fail, read biogra-phies and newspapers, and play a teamgame. “It works in sports and in the busi-ness world,” said Madigan, who hasserved on the Business School’s VisitingCommittee, is a founder of the HenryCarter Adams Society and has participat-ed in the Dean’s Seminar Series. In 1996,he and his wife established the Holly andJohn Madigan Endowed Scholarship tobenefit BBA and MBA students.

ALUMNI SOCIETY

Three Join BoardThree new members have joined the

University of Michigan AlumniSociety Board of Governors. They are:

� Jonathan Bilzin, BBA ’94, partner,Soros Private Equity Partners LLC,New York, New York� Jeffrey Mott, MBA ’95, vice presidentof retention and base management,Sprint Corporation/CustomerSolutions, Overland Park, Kansas � Kathleen Sample, MBA ’89, vicepresident of global market develop-ment, GKN Sinter Metals, AuburnHills, Michigan

The board strives to strengthen thenetwork and fellowship among faculty,alumni, students and friends of theBusiness School. The group’s semi-annual meetings provide a forum for anexchange of ideas between board mem-bers and the school.


Lauryn Hale, BBA ’04, past-president of the Michigan student chapter of theNational Association of Black Accountants,receives a congratulatory hug.

This commemorative tile symbolizes the 100-year friendship between theUniversity and Pewabic Pottery.

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Q U O T E U N Q U O T E


“I f you look at globalization, the wheelis not going to stop. It’s not a question

of the cheapest resources. It’s a question ofhigh quality and low price. If U.S. com-panies compete globally, it’s unavoidablethat they will have manufacturing inChina and Taiwan, design and softwarein India, probably marketing and strategyin the United States. If our MBA studentsare going to work in those global companies,we have to expose them to these cultures.”

M.S. Krishnan, the Michael R. and Mary KayHallman Fellow, chair of the BusinessInformation Technology area and co-director ofthe Center for Global Resource Leverage: India,explaining why it is important for the BusinessSchool to conduct research in India.—Detroit Free Press, May 18, 2004

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“I thought after Enron andWorldCom, people would want to

stay a million miles away from account-ing, and it’s really been just the opposite.”

David W. Wright, associate professor of accountingand director of the Master of Accounting Program,anticipating a record enrollment of more than60 students this fall in the Michigan BusinessSchool Master of Accounting Program, up from24 in 1998, the program’s inaugural year.—CFO magazine, June 2004

� � �

“I think the presumption is that if youtake on America frontally, you

aren’t going to grow wealthy and strongbecause there’s such a chasm in terms ofcapacity, economic and military.”

Kenneth G. Lieberthal, the William DavidsonProfessor of International Business and profes-sor of political science, commenting on concil-iatory overtures by China’s leaders to theUnited States and the international community.—The Economist, June 26, 2004

“These people are much moremobile. They have multiple

careers with a variety of companies. Theymay choose to stay in one country andmove from one company to another.They are professional expats.”

Edwin L. Miller, professor emeritus of businessadministration, discussing research showing thatincreasingly international employees are lessloyal to their companies and more willing tochange companies and careers to use their skills.—The International Herald Tribune (France),June 26, 2004

� � �

“The deeper issue is that we’readdicted to work. This is not a

minor issue. In our culture, work hasbecome fundamental to our identity. It’s a socially sanctioned addiction.”

Jeff DeGraff, clinical associate professor ofmanagement education, commenting on anExpedia.com study showing that 14 percent of Americans do not take any vacation time.—Detroit Free Press, June 24, 2004

� � �

“I t was a methodology to capture themental model of what it means to

be professional. Visually, how do peopleperceive it? When they thought the personwas unprofessional, they associated thatwith much more personal stuff. It wasn’tone particular item that did it. It was theamount of content. But all the personalitems represented a life outside the office.”

Jeffrey Sanchez-Burks, the Sanford R. RobertsonAssistant Professor of Business Administrationand assistant professor of management andorganizations, explaining research findings thatshow personal work space decor influencesperceptions of a person’s professionalism.—Chicago Tribune, January 6, 2004

“There still is concern that analysts atinvestment banks were pumping

up the stocks of their clients. We don’tfind strong evidence of that but we findstrong evidence that all analysts hype thestock whenever any company is out thereissuing stock.”

Richard G. Sloan, the Victor L. BernardPriceWaterhouseCoopers Collegiate Professor of Accounting and director of the John R. andGeorgene M. Tozzi Electronic Business andFinance Center, noting research suggests analysts routinely hype stocks of companiesraising capital. They forecast prices an averageof 80 percent too high.—Australian Financial Review, February 20, 2004

� � �

“O ffshoring is just the latest exam-ple of the creative destruction that

made the United States the most econom-ically successful nation in the history ofthe world. The best policy is to embracethis development and smooth the adjust-ment for dislocated workers. But turningaway from globalization, slowing wealthcreation and trying to ‘protect jobs’ is des-tined to fail and will ultimately makeeveryone worse off.”

Robert E. Kennedy, executive director of theWilliam Davidson Institute and professor ofbusiness administration, writing in an editorialabout why moving employment offshore helpsthe United States.—The Detroit News, February 1, 2004

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“T ax cuts played only a fairly modestrole in the recovery. The recovery

was coming sooner or later anyway.”

Joel Slemrod, the Paul McCracken CollegiateProfessor of Business Economics and Public Policy,commenting on Bush Administration assertionsthat it deserves credit for fast economic growth.—The San Francisco Chronicle, January 17, 2004

� � �

“Perhaps the lowly meeting hastaken on a new cultural impor-

tance—one that allows us to actually getwork done. We can pretend to work oncorporate affairs while getting our ownbusiness under control.”

John E. Tropman, adjunct professor of manage-ment and organizations and professor of socialwork, talking about how employees use meetingsto work on unrelated projects, from catching upon paperwork to writing thank-you notes.—The Wall Street Journal, May 19, 2004

Fiona Lee, associate professor of management and organizations,discussing research findings showing that stock prices of companiesthat took responsibility for poor financial performance outperformedstocks of companies that attributed problems to external factors.—The Wall Street Journal, April 21, 2004

“In today’s post-Enron world, share-holders are more suspicious of how companiesreport performance. Companies that makeexcuses may appear to be dishonest and not to be trusted.”

I N T E L L E C T U A L C A P I T A L


Is this year’s U.S. presidential race,fueled by attack ads and inflammatoryrhetoric, another example of a nation

in turmoil? Is the gap between conserva-tives and liberals, between religiousAmericans and those who eschew organ-ized religion a sign that the country is in the throes of a culture war? Is there a crisis of values?

Contrary to the perception of punditsand the general public that the nation isbecoming increasingly polarized, researchshows that most Americans continue tohold and share the traditional valuesupon which the democracy was foundedmore than 200 years ago: firm beliefs inreligion and God, family values, absolutemoral authority, and national pride.

The Rising Tide of Absolutism

Americans have always tended to bemoral absolutists, but this moral stancehas strengthened in recent decades.According to findings from the WorldValues Surveys, two decades agoAmericans’ views of moral authoritywere more relative than absolute, 60 percent vs. 37 percent. Moral relativismlocates the source of moral values andjudgment in the self, while moral abso-lutism locates the source of moral values

Baker is professor of management and organizations at the University of MichiganBusiness School, professor of sociology in the College of Literature, Scienceand the Arts, and faculty associate at the Institute for Social Research. Hisresearch expertise includes culture, economic sociology, social capital andorganizations. He is principal investigator of the 2003 Detroit Area Study onvalues and information in today’s society and principal investigator and teamleader of the Detroit Arab American Study. Baker, a contributor to the AmericanSociological Review, American Journal of Sociology, Journal of MathematicalSociology and Criminology, is the author of America’s Crisis of Values: Realityand Perception, which will be published this year by Princeton University Press.

and judgment in God, religion and society.Today, however, the percentage ofAmericans holding a viewpoint thatclearly delineates right from wrong hasgrown — despite the claims by manysocial critics that Americans are losingtheir capacity to make moral judgments.By 2000, 49.2 percent of Americansagreed with the statement: “There areabsolutely clear guidelines about what isgood and evil. These always apply toeveryone, whatever the circumstances.”About 46.6 percent agreed with the state-ment: “There can never be absolutelyclear guidelines about what is good andevil. What is good and evil dependsentirely upon the circumstances.”

This rising tide of absolute values inAmerica swept over all social classes, gen-erations, men and women, whites andnonwhites, married and single. All these

groups have become more absolutist over time. Compared to other nations,America has an unusually high propor-tion of absolutists. Only 17 of 79 nationshave a higher proportion of absolutists,and all these are low-income and devel-oping societies such as Morocco, Ghana,Tanzania, Uganda, Vietnam, Zimbabwe,Chile and Peru. Most economicallyadvanced democracies have many morecitizens with a relative viewpoint thanthose who view the world in absoluteterms. For example, more than 70 percent of the citizens of Denmark,Japan, the Netherlands and Sweden are relativists.

America’s Traditional Values

In addition to being one of the mosttraditional societies in the world, theUnited States is also one of the most religious, according to the World ValuesSurvey, which tracks traditional and secular-rational values. Only 19 of 75nations rate higher than the United States on a religiosity scale, and all theseare poor or developing countries, such as Uganda, El Salvador, Iran, South Africa, Peru and Turkey. Numerically,Protestants are the largest group inAmerica. According to a 2003 Galluppoll, 49.4 percent of Americans identifythemselves as Protestants. RomanCatholics, at 23.7 percent, are the next-largest group. In the same poll, 60 percentof Protestants and 55 percent of Catholicsanswered “yes” to the statement that religion is “very important in your ownlife.” Protestants also attend church morefrequently than Catholics. For Americans,

BY WAYNE E. BAKER

Is America Really Facing aCrisis of Values?

Wayne E. Baker

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The percentage of Americans holding

a viewpoint that clearly delineates right

from wrong has grown—despite the

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I N T E L L E C T U A L C A P I T A L

God, country and family are tightly connected. Americans, whether they aretraditionalists or embrace secular-rationalvalues that emphasize the right of per-sonal choice, are among the world’s mostpatriotic.

In contrast, on a second cultural dimen-sion examined by the World ValuesSurvey, survival vs. self-expression, theUnited States continues to undergo rapid change. Survival values are held bypeople whose lives are characterized byuncertainty, insecurity, and political andeconomic turmoil. They emphasize eco-nomic and physical security above othergoals, feel threatened by foreigners anddiversity, and are distrustful and resistcultural change. Self-expression values,such as trust, tolerance and subjectivewell-being, emerge once material needsare satisfied, allowing post-industrialsocieties (like

the United States) to move from survivalmode to increased emphasis on self-expression and quality of life. Americansincreasingly embrace self-expression values, which manifest themselves in rising environmental concerns, demandsfor equality, and the search for meaningand purpose in life beyond the mere consumption of goods and services.

America’s cultural heritage anchorsthe country in tradition, counteracts thesecularizing effect of economic develop-ment that has caused most economicallyadvanced nations to lose their traditionalvalues, and promotes self-expression.America’s first immigrants, many ofwhom were religious exiles, brought tothe New World strong religious beliefs,fierce independence, a preference for lim-ited government and a distrust of formalauthority. They were joined by independ-ent-minded entrepreneurs. Together, thereligious exiles and risk takers crafted aunique constellation of American valuesthat continues to exert influence today.

The national cultures of most coun-tries are based on a common ancestry,language, religion, history, customs and

cultural traditions. In contrast, Americahas a set of shared ideas and values that overcomes differences in ancestryand ethnic origin, religion, customs andlanguage.

What is perceived as a “crisis of val-ues” in the United States really is a caseof mistaken identity. Americans areunusual in that they cherish traditionalvalues as well as a high degree of self-expression. Even the current debateabout values, framed by presidential election politics, serves an importantrhetorical function. Repeated warnings,public alarm and political and intellectualdebates about the loss of traditional valuesor a crisis of values remind Americans ofthe ideals that undergird the nation.These debates also affirm and reinforcethe ideological core of the nation’s senseof community—the values that definewho we are. Such rhetoric is a forceful

reminder of America’s traditional val-ues—alongside the symbols of these val-ues, such as “In God We Trust” on U.S.currency, the U.S. Supreme Court invo-cation that includes “God save the UnitedStates and this honorable court” and the“Pledge of Allegiance” recited daily inschools across the country.

The first chapter of America’s Crisis of Values: Reality and Perception is on Baker’s Web site,http://webuser.bus.umich.edu/wayneb. To contact Baker, send messages [email protected].


Britain CanadaAustralia

Sweden

U.S.A.

Uruguay

Portugal

Nigeria

Ghana

Peru

India

Chile

Venezuela

Philippines

Bangladesh

SouthAfrica

Lithuania

Bosnia

Croatia

Taiwan

S. Korea

Spain

Yugoslavia

Brazil

Mexico N. Ireland

IrelandTurkey

Georgia

Romania

Hungary

Slovakia Slovenia

France

China

Japan

LatviaEstonia

Bulgaria

Iceland

Finland

Denmark

Russia

Switzerland

Norway

Netherlands

WestGermany

EastGermany

Austria

Italy

Argentina

DominicanRepublic

Armenia

Moldova

Belarus

Ukraine

PuertoRico

Azerbaijan

Macedonia

New Zealand

Pakistan

Colombia

A f r i c a

SouthAsia

Latin

America

Orthodox

Englishspeaking

Ex -Commun i s t

C o n f u c i a n ProtestantEurope

Baltic

Belgium

Czech

CatholicEurope

Poland

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1.2

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SOURCE: “MODERNIZATION, CULTURAL CHANGE, AND THE PERSISTENCE OF TRADITIONAL VALUES” BY RONALDINGLEHART AND WAYNE E. BAKER; AMERICAN SOCIOLOGICAL REVIEW, 2000, VOL. 65 (FEBRUARY:19-51)

LOCATIONS OF 65 SOCIETIES ON TWO DIMENSIONS OF CROSS-CULTURAL VARIATIONWorld Values Surveys, 1990–1991 and 1995–1998

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cherish traditional values as well as

a high degree of self-expression.

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F A C U L T Y R E S E A R C H


In 1914, future Supreme Court JusticeLouis Brandeis wrote that a smallinner circle of U.S. banks wielded

enormous economic power and sought tocontrol American business and capture itsrewards. This de facto financial oligarchy,Brandeis argued, exercised influence overthe nation’s companies through an “end-less chain” of interlocking corporateboards of directors. In that era, directorsfor three powerful banks—National CityBank, J.P. Morgan and First NationalBank of New York—served on 169 othercorporate boards.

Today, it’s still commonplace for direc-tors to serve multiple companies. A tightlywoven, remarkably resilient network ofdirectors leads the nation’s largest compa-nies — and spreads ideas, attitudes andpractices among them, says Gerald Davis,the Sparks Whirlpool Corporation ResearchProfessor and chair of Management andOrganizations at the Business School.

If a flu virus infected the Enron boardof directors in January 2001, Davis wrotein a recent edition of the journal Contexts,the bug could have spread to 650 of theFortune 1000 companies within fivemonths through directors’ handshakes atmonthly board meetings.

Studies have shown this pervasiveinterconnection is not intentional, butrather results mainly from executives’preference to recruit experienced direc-tors, Davis says. It does, on the otherhand, have enormous influence over theoperation, structure, strategy and charac-ter of U.S. companies. The intertwinednetwork of directors has been shown toinfluence companies’ acquisition activi-ties, response to takeover threats, borrow-

ing practices, corporate alliances, approachto investor relations, charitable contribu-tions, political ideology and decisionsregarding on which stock market to list.

Corporate cronyism even contributedto the wild inflation of share prices in the1990s and the subsequent market collapse,Davis concludes in the Contexts article.

It’s a Small WorldIn a study published last year in Strategic

Organization, Davis and colleagues MinaYoo from the University of Washingtonand Wayne Baker, professor of manage-ment and organizations at the BusinessSchool, demonstrated that the interlock-ing network of directors is resilient evenduring times of monumental change.

The researchers analyzed connectionsbetween directors at the several hundredlargest U.S. corporations in the 1980s and1990s—a period of economic, social andcorporate upheavals that might be expect-ed to affect connectivity. Both companiesand their directors came and went at ahigh rate—fewer than one in three of the largest corporations in 1999 also wasamong the largest in 1982. Yet Davis andhis colleagues found the degree of con-nectivity between corporate boards to bevirtually unchanged. They reached thisconclusion by applying the “small world”concept—the line of research that popu-larized the idea that any two people areconnected, on average, by no more thansix “degrees of separation.” They foundthe boards of the largest U.S. companieswere separated, on average, by 3.38 steps in1982 and 3.46 steps in both 1990 and 1999.

To test whether a few key connectionsor “linchpins” might be responsible for

this intertwined network—like the pri-mary hub in an airline’s flight schedule—the researchers re-ran their analysis afterremoving the 10 most-connected boards.The impact was modest: An increasefrom 3.38 to 3.48 degrees of separation in1982 and from 3.46 to 3.6 in 1999. “Theshort social distances among directors andboards do not require planning by somecentral authority,” Davis and his colleagueswrote in the Strategic Organization paper.“No particular node or tie is critical formaintaining the small world of the cor-porate elite, in the same sense that noparticular router is essential to the opera-tions of the Internet.”

The Bubble BurstsInterlocking corporate connections

enable the sharing of experience andinsights that lead to better corporate decisions, Davis says, and also spreaddetrimental ideas and practices.

In the 1990s, for example, the web of connections accelerated the adoption of tactics designed solely to inflate shareprices—without concern for their long-term effect on the bottom line, he says.Companies announced share buybackprograms that were never implemented,described earnings in laudatory terms theydid not merit and even divested profitablecompanies to avoid being perceived as aconglomerate. Meanwhile, Davis says, theweb of relationships among executives,directors, financial analysts, auditors andinvestment bankers led to a breakdown ofcorporate governance and a loss of faith inthe market. Brokerage houses gave com-panies favorable ratings to acquire financialservices business, auditors skewed thebooks of corporate clients they relied onfor lucrative consulting contracts anddirectors failed to adequately scrutinizetheir companies’ suspect dealings.

“The American corporate system isthick with social connections among themost important decision makers. This

It’s a Small WorldAfter All for Directorsof Corporate Boards Gerald Davis

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Business Professor Gerald Davis says social connections among prominentplayers in corporate governance contributed to wild inflation of share prices in the 1990s and the subsequent market collapse. A tightly woven network of directors continues to wield influence over the operation, structure, strategyand character of U.S. companies.

F A C U L T Y R E S E A R C H

system is highly susceptible to ‘contagion’among managers,” Davis wrote in Contexts.“From who serves on boards of directorsto which bank underwrites new securitiesissues and how financial analysts ratethem—personal connections were cen-tral to inflating the financial bubble andto its subsequent burst.”

Global Ties, Shared Ownership

The number of foreign firms listing onthe NASDAQ and the New York StockExchange (NYSE) increased from about170 to more than 750 during the 1990s—raising the question of whether interlockingboards are becoming a global phenomenon.

To investigate, Davis and doctoral stu-dent Christopher Marquis studied 209companies listed on the NASDAQ andNYSE from the United Kingdom, France,Germany, Japan, Chile and Israel. In apaper written for The Economic Sociologyof Capitalism, they reported that few ofthese firms shared directors with U.S.companies or adopted U.S. governancepractices—although many emphasizedtheir American listing because it appealedto investors and boosted share value. “U.S.-listed firms may wear American fashions,”Davis and Marquis wrote, “but they con-tinue to speak in their native tongue.”

In a recent paper for the French jour-nal Gerer et Comprendre, Davis and MinaYoo explored how corporate America isincreasingly interconnected through com-mon ownership by institutional investors.FMR Corporation, the parent company of the Fidelity mutual funds, owned 10percent of 94 companies in 2001, comparedwith 13 in 1990. The French financialservices conglomerate AXA held 10 per-cent stakes in 35 U.S. companies in 2001,followed by Wellington ManagementCompany at 26 and Capital Research & Management Inc. at 18.

Davis and Yoo found that institutionswith large stakes in multiple companiesgenerally don’t seek to influence the firmsin which they invest. The researchersspeculate that this “passive” ownershipstyle may occur, in part, because mutualfunds don’t want to jeopardize potentialcontracts—to provide employee benefitsadministration, for example—with thecompanies in which they own large stakes.

Dave Wilkins

Redefining How We Think About and Develop Leadership

Fifty percent ofall organiza-tional-change

efforts fail. One reason for this diffi-culty is change lead-ership. Too often weconfuse leadershipwith a title or position, such aspresident or CEO,and believe that authority is enough toalter people and move organizations, saysRobert E. Quinn, the Margaret ElliottTracy Collegiate Professor of BusinessAdministration and professor of manage-ment and organizations.

In his book, Building the Bridge As YouWalk on It: A Guide for Leading Change(Jossey-Bass, 2004), Quinn launches a studyon what he calls the normal state and thefundamental state of leadership. Mostpeople spend the majority of their time inthe normal state. Although they claim theyare committed to change, they actually arecommitted to remaining comfort-centered(staying on the path of least resistance),externally driven (complying with existingsocial pressures), self-focused (egocentric)and internally closed (neutralizing externalsignals for change).

When a person is forced to make deeppersonal change, he or she has to moveforward without control. In effect, thatperson has to learn to “build the bridge as he or she walks on it.” In the process,people tend to move from the normalstate to a state in which they becomemore results-centered, internally driven,other-focused and externally open.

When people make the shift, they oftenreport they are more focused, feel increasedintegrity, are more connected to others andexperience great increases in awarenessand learning. Quinn calls this conditionthe fundamental state of leadership.

“Developing leaders is not about gettingthem to imitate the thinking and behaviorof other people who have been successful,”Quinn says. “It is about attracting peopleto the decision of entering the uniquestate from which their own great thinkingand great behaviors emanate.”

Contact Quinn at [email protected].

Most of Us Are Poor Judges of Our Own Abilities

Most of usbelievewe can

accurately gaugehow our personalperformance andabilities stack upagainst those ofour peers, butresearch suggeststhat we are, infact, poor judges of our own comparativetalents, reports Katherine Burson, assis-tant professor of marketing.

Burson and colleagues from DukeUniversity and the University of Chicagoreport that people at all skill levels are sub-ject to similar degrees of inaccuracy andbias in making interpersonal comparisons.

These errors in judgment are tied toperceptions about the difficulty of anassigned task. When the task seems hard,top achievers underestimate their stand-ings relative to their peers, resulting inless accurate predictions. When a taskappears too easy, poor performers over-estimate their relative standings, makingtheir predictions less accurate.

“Overestimates of relative ability canlead to frustration, loss and even physicalharm, as in the case of beginning skierswho attempt to ski advanced trails,”Burson says. “On the other hand, therealso are significant domains in life whererelative ability may be underestimated, sopeople fail to participate when they wouldhave succeeded.”

Burson and her colleagues conducted aseries of 10 tasks involving quizzes, triviaand word games to investigate the cogni-tive processes underlying judgments ofrelative standing. Test results revealed thatskilled and unskilled participants wereinaccurate in estimating their relativeperformance. However, exactly whoappeared to be more or less accuratedepended on the difficulty of the taskbecause the perceived difficulty affectedestimates of relative ability, but not actualability.

The researchers found that estimatingone’s performance standing is difficultregardless of skill level.

Contact Burson at [email protected].


Katherine BursonRobert E. Quinn

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A L U M N I A T L A R G E

Most of us reach for abeverage because ofthe drink itself, not

the bottle cap that seals it.But it’s no small concern to

Sandra Beach Lin, MBA ’82,president of Alcoa ClosureSystems International. “Ourjob is to provide an easy-to-use,tamper-evident closure, withmaximum eye appeal,” shestates. “As a result of our work,consumers benefit in ways theymay not be fully aware of:fresher, better-tasting products;resealable bottles; loweredpackaging costs; productintegrity and ease of opening.

“We lead the beverage mar-ket by continuously improvingkey performance needs thatmost soft drink consumershappily take for granted.”

Alcoa produces more than70 billion closures a year world-wide, from push-pull spouts ofsports drinks to peanut butterlids. Coca-Cola and Pepsi areher biggest customers.

Under her leadership, thecompany operates 29 manu-facturing plants in 20 countriesand is constantly improvingits nearly 60 varieties of clo-sures. “Packaging is a rapidlychanging, competitive market-

place,” she observes. “What’sexciting is creating new prod-ucts, entering new geographiesand exceeding customerexpectations.”

Lin discovered her love ofbusiness as a teenager in JuniorAchievement. On scholarshipat the University of Toledo,she interned four years withthe Dana Corporation, whichexposed her to every area fromaccounting to production. Shewas immediately accepted atMichigan, where she foundmentors and enduring friend-ships.

She joined the sales force atAmerican Cyanamid, quicklyabsorbing the technology oftire adhesion chemicals andholding her own in the male-dominated automotive arena.Working from home, makingcold calls and growing thecustomer base over a five-stateterritory increased her self-reliance and ability to buildcustomer relationships.

“Establish credibility, earntheir trust.” This became herfirst objective in every positionthat followed. Soon she wasresponsible for marketingeight lines of chemicals, fromaerospace to cosmetics, out-side the U.S. Two years later,she moved into internationalmarketing of medical devices.

“I toured tire factories inItaly and watched airplanesub-assemblies being built inJapan. Then when I shifted to medical products, I sawsurgeries being performed in

Spain and Hong Kong,” shemarvels. “It opened the worldto me.”

Lin scaled back somewhatduring 1990-93 after her twodaughters were born, and she and her husband Patrickbegan building their dreamhouse. Then Allied Signal(now Honeywell) offered her the chance to head up itsnew specialty wax business inAsia. The family was off toSingapore. “I have often beenplaced in a first-time position,building an operation fromscratch,” she reflects. “Again,it comes down to the need toestablish credibility and earntrust as quickly as possible.”

And she continued, throughseveral more managementtransitions, including presi-dent of Bendix CommercialVehicle Systems, leading tojoining Alcoa in 2002. Fromtruck brakes to bottle caps,Lin focuses on three areas:strategic planning, year-to-year operations and develop-ing her team — as individualsand as talent for the Alcoapipeline. She is particularlycommitted to mentoringwomen through such organi-zations as the Committee of 200and Women Unlimited. Shealso is active on the BusinessSchool’s Women’s LeadershipCouncil and the Tauber Manu-facturing Institute board.

Each venue creates newnetworks. Recently, Lin wasamong the Alcoa leadersinstrumental in combiningfunds from the Committee of 200 and Alcoa Foundationto sponsor a Girl Scout pro-gram: From Badge to Busi-ness. Piloted in Chicago, it isexpanding to several othercities. “The goal is to teachgirls what I learned at anearly age,” she concludes.“Business is an outstandingcareer choice for women.”

Pat Materka

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“I have often been placed in

a first-time position, building

an operation from scratch,”

she reflects. “Again, it comes

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credibility and earn trust as

quickly as possible.”

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Putting More Pop in TopsSANDRA BEACH LIN, MBA ’82

JOHN WHEELER


A L U M N I A T L A R G E

In 1999, the Chicago Aca-demy of Sciences movedits native prairie flora and

fauna to a sunny new building,and thus the Peggy NotebaertNature Museum was born.

Board members soon real-ized the museum, devoted to environmental education,must update its exhibits toprovide visitors a more mem-orable, hands-on experience.They hired Joseph E. Shacter,BBA ’82, as president andCEO to do the job.

Shacter had managed majorexhibits at Chicago’s Museumof Science and Industry. Healso brought a strong businessbackground, including a BBAfrom the Michigan BusinessSchool and an MBA fromNorthwestern University.Board members were attractedby his business knowledge andfamiliarity with nonprofits — a sought-after combination inmuseum management.

“Traditionally, museumswere run by curators whowould become museum man-agers,” Shacter says. In thelast two decades, however,running a museum hasbecome more akin to runninga business. Increasingly, “not-for-profit institutions areexpected to bring in theirown revenue,” from admis-sions, facility rentals, storesand cafes, Shacter explains.

Shacter has spent most ofhis career working for non-profit organizations. Aftergraduating from Michigan,

he spent three years as associ-ate director at a boys summercamp in Wisconsin. At North-western, he earned a master’sdegree in journalism alongwith an MBA, with an eyetoward becoming a businessreporter. After working for theCBS affiliate in Little Rock,Arkansas, Shacter returned tohis native Chicago to managelarge exhibits at the Museumof Science and Industry,including the Titanic exhibit.

To enhance the visitorexperience at the NatureMuseum, Shacter and his staffbegan by defining the muse-um’s role. “It goes back toMarketing 101. What’s theniche, where’s the need andhow are we fulfilling thatneed?” he says. By focusingon environmental educationand encouraging urbanites toreconnect to the natural world,the Peggy Notebaert NatureMuseum occupies a specialspace in Chicago’s rich cultur-al repertoire. Its butterflysanctuary—an airy atriumwhere dozens of varieties ofbutterflies flit around andland on visitors—also offers arespite from midwestern win-ters for visitors, who numberalmost 200,000 annually.

By this October, the museumwill have redone five permanentexhibits to include more liveanimals and make the exhibitsmore interactive: the butterflysanctuary, an exhibit on howrivers work, a midwesternwetlands gallery, a “hands-

To enhance the visitor experi-

ence at the Nature Museum,

Shacter and his staff began by

defining the museum’s role.

“It goes back to Marketing

101. What’s the niche,

where’s the need and how

are we fulfilling that need?”

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premiere of Animal Grossology.Last year, the museum

mounted an exhibit that grewout of Chicago Metropolis2020, a nonprofit organizationcreated to offer ideas for man-aging future population growthin the Chicago area whilelimiting urban sprawl. Theexhibit showcased the projectedconsequences of current life-styles on the Windy City,including longer commutes andthe loss of 500 square miles of open land to development.

Shacter also is excited aboutthe “greening” of the museum’sbuilding, which began thisspring. Rooftop plantings,climbing native vines and alimestone wall that resemblesravine walls in Illinois willmirror the museum’s missionand brand identity: an oasiswhere native flowers flourishand butterflies alight on visi-tors’ shoulders.

Mary Jean Babic

on” habitat that features atwo-story tree house, and atwo-story home inside themuseum that models environ-mentally friendly behaviorsand introduces visitors to theanimals that share our homes.

The museum also hoststemporary exhibits. Grossology:The (Impolite) Science of theHuman Body was one of the most popular. Exploringevery imaginable bodily func-tion, the exhibit included alarge-scale replica of humanskin, a burp machine and avomit center. This fall, themuseum will host the world

JOHN WHEELER

ConnectingUrbanites with NatureJOSEPH E. SHACTER, BBA ’82

More than 1,200 donors andfriends of the University ofMichigan, including many

Business School alumni, gathered in AnnArbor on May 14 to launch the four-yearpublic phase of the University’s $2.5 bil-lion capital campaign to support scholar-ships, endowed professorships, academicprograms, facilities and other projects.Michigan’s goal is one of the largest inhigher education.

“The Michigan Difference will focuson maintaining and building the depth ofexcellence that is the foundation of theUniversity of Michigan’s pre-eminence asa public research university,” saidPresident Mary Sue Coleman. “Fourteenof the University of Michigan’s collegesand programs rank among the top 10 inthe nation, a claim no other universitycan make. Our breadth of accomplish-ment and activity—in Ann Arbor,Dearborn and Flint—gives Michigan stu-dents and faculty an unparalleled array ofopportunities. The title of the campaign,The Michigan Difference, captures theremarkable capability of the University ofMichigan to make a difference for ourstudents, for our state and for society.”

The campaign focuses on the

University’s core academic mission: $400million for student scholarships and fellow-ships; $425 million for faculty support; $625million for programs and research; $500million for facilities; $150 million for labs,infrastructure and discretionary support;and $400 million in bequests. Since the quietphase of the campaign began in 2000,more than $1.36 billion has been raised.

Former President Gerald R. Ford andBetty Ford are honorary chairs of thecampaign. Ford, a 1935 Michigan gradu-ate who has held leadership roles in twoprevious University campaigns, said,“Betty and I are delighted to serve as

honorary chairs of The MichiganDifference campaign. The University ofMichigan has had such a profound influ-ence on my life that I believe strongly ingiving back to this institution. We are proudto lend our support and commitment tothis effort that will make a difference tostudents and faculty now and in thefuture, and in turn to the state, the nationand the world.

President Mary Sue Coleman and members of the University capital campaign leadership team joindonors and friends in “Hail to the Victors” at the campaign kickoff rally in Rackham Auditorium. “Ourstudents and alumni challenge us. What we do in this campaign will resonate for decades,” she said.

PAUL JARONSKI


Betty Ford and former President Gerald R. Ford

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“As a leader in previous campaigns for

the University, I have seen over and over

that our donors have always provided a

substantial margin of excellence, making

the difference between a good university

and a great public institution.”

University Launches $2.5 T H E M I C H I G A N D I F F E R E N C E : L E A D I N G I N T H O U G H T A N D A C T I O N

“As a leader in previous campaigns forthe University, I have seen over and overthat our donors have always provided asubstantial margin of excellence, makingthe difference between a good universityand a great public institution. We look to

our supporters once again to join us inmaking The Michigan Difference cam-paign a success.”

In setting priorities for the campaign,the University’s 19 colleges and schools,three campuses and numerous other unitscollaborated to define five themes thatexpress core activities across the institution.

Fulfill the Promise of Science andTechnology. University colleges, schoolsand departments collaborate to discoverknowledge and develop technologies thatimprove and save lives, create innovativesolutions for sustaining the environmentand make information technology secureand accessible for all.

Enrich the Student Experience.Michigan students study with facultywhose excellence has been rewarded withprestigious prizes and nominations to thenation’s most respected scholarly societies.Fundraising will provide for studentscholarships and fellowships, programsand new facilities to make the studentexperience the best it can be.

Inspire a Life of Arts and Culture. Inthe classroom and in its museums andtheaters the University stimulates creativ-ity and engages tomorrow’s performersand artisans. The University educatesactors, architects, dancers, musicians and designers, while exposing the entirestudent body and the community to outstanding cultural offerings, enrichingthe quality of life for all.

Advance Health and Society’s Well-being. University doctors and researchers,social scientists, public policy experts andscientists obtain new knowledge, introducetreatments, provide insights and identifytrends that advance healthcare delivery,inform government decision making,care for the planet, increase understand-ing and improve the human condition.

Prepare Leaders for the Local andGlobal Community. The University puts force behind its maxim of “Leadersand Best” by imbuing students with acommitment to citizenship, by encourag-ing deeper knowledge of various cultures and understanding of the world’s

Sanford Robertson, BBA ’53, MBA ’54, left, and Stephen M. Ross, BBA ’62, chat at the May 14reception and dinner celebrating the launch of the Business School’s fundraising campaign. Theevening gala was one of many University campaign-related events held May 14-15.

Dean Robert J. Dolan, left, and Regent David BrandonSpeaking at the school’s May 14 campaignkickoff dinner held at the University’s newPalmer Commons, President Mary SueColeman told donors, “Our Business School is one of the best in the country and our aspirations must continue to be high.”

markets and business practices, and by imparting an appreciation of our global connectedness.

“Fourteen of the University of Michigan’s

colleges and programs rank among the

top 10 in the nation, a claim no other

university can make. Our breadth

of accomplishment and activity—

in Ann Arbor, Dearborn and Flint—

gives Michigan students and faculty an

unparalleled array of opportunities.”

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Left to right, Thomas C. Jones, BBA ’68, MBA’71, and Michael Jandernoa, BBA ’72, talkwith Focus: HOPE co-founder Eleanor Josaitisand Joseph Petrosky, MBA ’91, at the BusinessSchool’s fundraising kickoff.

When President Mary Sue Colemanrecruited leaders for Michigan’scapital campaign, she tapped

a deep bench—the Business School—for talent.

More than a third of the 28 membersof Michigan’s National Campaign Leader-ship Cabinet have Business School con-nections, and four of the eight campaignco-chairs are alumni: Michael Jandernoa,BBA ’72, of Grand Rapids, Michigan;Sanford Robertson, BBA ’53, MBA ’54, ofSan Francisco; Richard Rogel, BBA ’70,of Vail, Colorado; and Stephen M. Ross,BBA ’62, of New York City, who recentlygave $100 million to the school.

Business School alumni also areprominent on the vice chair roster,including Detroiters Stanley Frankel,MBA ’64, Doreen Hermelin (widow ofDavid Hermelin, BBA ’58) and Joel Tauber,

BBA ’56, MBA ’63.Campaign chairs and vice chairs carry

on the campaign’s day-to-day work. Theytalk to donors and host events. Honorarycampaign leaders assist the campaignthrough their public endorsement andwillingness to share their prestige withthe endeavor.

William Davidson, BBA ’47, andAllan Gilmour, MBA ’59, both ofDetroit, and Nicki and J. Ira Harris,BBA ’59, of Palm Beach, Florida, arehonorary co-chairs as are Ann Lurie(widow of Robert H. Lurie, BEEIE ’64,and MSE ’66) of Chicago and Helen andSamuel Zell, AB ’63, JD ’66, also ofChicago. Ann Lurie and Samuel Zell arethe driving forces behind the Samuel Zell& Robert H. Lurie Institute for Entre-preneurial Studies at the Business School.


Business School Alumni Lend Leadership, Expertise to Fundraising Campaign

William Davidson Allan Gilmour Nicki and J. Ira Harris

Michael Jandernoa Ann Lurie Sanford Robertson

Richard Rogel Helen Zell Samuel Zell

Left to right, Cliff Sheldon, MBA ’65, BettyBarfield and John Barfield, a member of theVisiting Committee

More than 125 alumni, donors, faculty andstudent leaders enjoyed the music of a jazzensemble from Ann Arbor’s Community HighSchool at the May 14 reception and dinnermarking the beginning of the four-year publicphase of the Business School’s $350 millionfundraising campaign.

Left to right, Joel Tauber, BBA ’56, MBA ’63,Kathleen Dolan and Stephen M. Ross, BBA ’62

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T H E M I C H I G A N D I F F E R E N C E : L E A D I N G I N T H O U G H T A N D A C T I O N

In spring 2003, Dean Robert J. Dolanunveiled a strategy to create a distinc-tive Michigan approach to business

education. Today, that strategy is the cornerstone for the school’s $350 millioncampaign, The Michigan Difference:Leading in Thought and Action. The cam-paign has earned endorsements from someof the school’s most prominent and gen-erous donors, including Stephen M. Ross,William Davidson, Sanford Robertson,John R. Tozzi and Samuel Zell.

Students, alumni, faculty and businessleaders have embraced the school’s strate-gic position, which is anchored on fourcore values:

� Develop broad-based intellectual capital with impact

� Innovation in business education� Capitalize on co-creation opportunities� Connect theory and practice

“People in the work world see whatwe are doing as a way to differentiate theRoss School of Business from the indus-try as a whole. The feedback is we are on the right track,” says Dolan. “We talkabout the need to develop leadershipcapability, to help people do more thansolve well-defined problems. We want tohelp students figure out what the issuesare and handle complicated objectivefunctions encompassing profitability anda corporate/social responsibility motive.”

In a dramatic announcement in HaleAuditorium the morning of September 9,the University announced that New YorkCity real estate developer Stephen M. Ross,BBA ’62, had given $100 million to theschool. Earmarked for facilities andendowment, the gift is more than threetimes larger than any received in theUniversity’s history and the largest evergiven to a business school. Prior to theannouncement, the Regents in special session voted to rename the school theStephen M. Ross School of Business atthe University of Michigan in honor ofthe Detroit native and founder, chairmanand chief executive officer of The RelatedCompanies, L.P.

The school, under Dolan’s leadership,already had raised $100 million beforeRoss made his intentions known. Leadgifts include:

� Nearly $20 million for support of theWilliam Davidson Institute from


Dean Dolan: Alumni Support CriticalWilliam Davidson, BBA ’47, chair-man, president and CEO of GuardianIndustries Corporation, a Michigan-based glass products manufacturer. In1992, Davidson, honorary co-chair ofthe University fundraising campaign,gave $30 million, the largest gift at thetime associated with the Universityand the school, to establish the insti-tute. Through the institute, facultyand students help nations around theworld make successful transitionsfrom a command economy to a mar-ket economy. Davidson also recentlygave an additional $5 million to theUniversity for new facility construction.

� $5 million from Sanford Robertson,BBA ’53, MBA ’54, principal founderof Francisco Partners in Menlo Park,California. Robertson is co-chair ofthe University’s $2.5 billion fundraisingcampaign. He is a member of PresidentMary Sue Coleman’s Advisory Group,the Ross School of Business’ CampaignCabinet, the Western States CampaignCommittee and the University’sInvestment Advisory Committee.Robertson’s$5 milliongift inexpendablefunds allowsDolan torespond tothe school’smost press-ing needsand exciting initiatives.

� $2 millionfrom JohnR. Tozzi,MBA ’67,andGeorgeneM. Tozzi forthe state-of-the-art JohnR. and Georgene M. Tozzi ElectronicBusiness and Finance Center in the Electronics Resources Building.John Tozzi is president and CEO ofCambridge Investments Ltd. of SanFrancisco and of Jackson, Wyoming,an investment management firm thatspecializes in the energy industry.

Professor Tyler Shumway teaches in the 5,800-square-foot Tozzi ElectronicBusiness and Finance Center. The Tozzi Center includes a financial analysis andtrading floor classroom, a flexible and wireless electronic classroom and an E-labseminar room. The center is equipped with the latest in live financial data feeds,information services, and research and trading tools to allow students to experi-ence the look and feel of a trading floor environment. PHOTO BY STEVE KUZMA

“Michigan’s programs require great hearts

and minds,” Dolan says. “Our programs

also require state-of-the-art facilities due

to their multidisciplinary nature, their

team orientation and their global scope.”

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Difference: Leading in Thought andAction. “The Ross School of Business’long-term success depends on this CapitalCampaign. Our action-based learningapproach is both extremely high-valueand high-cost. How are we going tomake it happen? Alumni support is acritical piece of the story,” Dolan says.

� $4 million from Samuel Zell, AB ’63, JD’66, chairman of the board of EquityGroup Investments LLC in Chicago, to advance the work of the SamuelZell & Robert H. Lurie Institute for Entrepreneurial Studies begun with$10 million in 1999. In addition tobeing the driving force behind the ZellLurie Institute, Zell serves on PresidentColeman’s Advisory Group and theMichigan Law School VisitingCommittee.

Alumni and friends across the countryare being invited to learn more about thestrategy that has captured the imaginationand financial support of donors, and toexamine the reality behind The Michigan

“It’s begin-ning to lookas if a positiveworkplaceatmosphere isworth devel-oping, andnot merelyfor its ownsake; it maybe the foun-dation of trueorganizationalsuccess,”Fryer con-cludes. Tolearn moreabout POS,visit the POSspecial report at www.bus.umich.edu/NewsRoom/SpecialReports/POS.htm.

Dolan cites research being done byC.K. Prahalad, the Harvey C. FruehaufProfessor of Business Administration andprofessor of corporate strategy and inter-national business, and his student teamon ways to unleash entrepreneurship andserve the poor of the world profitably asanother example of creating intellectualcapital with impact. Their work is featuredin The Fortune at the Bottom of the Pyramid,published by Wharton School Publishing inAugust. “Given that the project involved25 students working in five countries, wecouldn’t fund this kind of research fromgeneral operating funds,” Dolan says.

In June, the school opened its Centerfor Global Resource Leverage: India, anew research center in Bangalore, India.Directed by Prahalad and M.S. Krishnan,the Michael R. and Mary Kay HallmanFellow and professor of business infor-mation technology, the center is bringingtogether scholars from the Ross School ofBusiness to study managerial issues andemerging practices in leveraging globalresources and accessing new markets.

The school’s goal is to become a worldleader in research at one of the leadingedges of change—global restructuring ofindustries and global resource leverage,Dolan says, explaining that the center is aresponse to the emerging pattern of restruc-turing of industries and the value chains offirms. Increasingly, managers are focusingon methods to leverage resources globally,he notes, and India presents a promisingopportunity to do that. “When we saycreate intellectual capital, we’re reallytalking about path-breaking research andthat kind of research requires significantinvestment,” Dolan adds.

Intellectual CapitalGenerating intellectual capital with

impact—new ideas developed throughresearch that faculty quickly transfer to theclassroom and share with the world—formsthe school’s foundation.

People and the intellectual capital theycreate through research are high on thecampaign priority list. The school seeks toraise funds for endowed professorships,additional clinical faculty and research.

The schools that Michigan competeswith for the best faculty talent all receivesubstantial infusions of cash throughalumni support, notes Dolan, quicklyadding, “These schools also establish themarket level of what we must pay to hirethe best people.”

One of the most visible examples of bigidea research is Positive OrganizationalScholarship (POS), a new movement pioneered at the Ross School of Business.Harvard Business Review (HBR) has iden-tified POS as one of 20 “BreakthroughIdeas for 2004.” Drawing on path-breakingwork in the organizational and social sciences, POS focuses on the dynamics in organizations that develop humanstrength, produce resilience, foster vitalityand cultivate extraordinary individuals.

HBR Senior EditorBronwyn Fryerwrites, “POS

takes a rigorouslook at the more

widespread socialconstructs, values

and processes thatmake organizations

great. And because itmeasures results, POS

goes beyond platitudi-nous talk about the

virtues of being good.” Studying such success-

ful firms as SouthwestAirlines, POS researchersfind that employee happi-ness pays for companies.


Right, C.K. Prahalad, the Harvey C. Fruehauf Professor of Business Administration andprofessor of corporate strategy and international business, talks with students at theIndia Institute for Information Technology (IIIT)-Bangalore campus about outsourcingas part of the opening of the school’s new Center for Global Resource Leverage:India, in Bangalore. The center is bringing together scholars to study managerial issuesand emerging practices in leveraging global resources and accessing new markets.

Cutting-edge research fea-tured in such books asPositive OrganizationalScholarship: Foundationsof a New Discipline andThe Fortune at theBottom of the Pyramidare examples of howfaculty develop andshare new ideas inthe classroom andwith the world.

Innovation in Business Education

The school provides innovative educa-tional experiences through a core curriculumand cutting-edge electives aided by advancedtechnology.

“The pace of change in the businessworld today is obvious. What this meansis that it is no longer sufficient to be up todate, monitoring changes that occur. Ifyou really want to be on top, you have tobe the source of new ideas. Innovation inresearch and in teaching methodologies is ahallmark of the Ross School of Business,”Dolan says.

One example is the school’s newLeadership Transition Workshop (LTW)for second-year MBAs, offered for the firsttime to the Class of 2004. The weekend-long life skills workshop earned highmarks from the 350 students, 50 spousesand more than 30 alumni volunteers whoparticipated.

LTW helps students make a smoothtransition to corporate life. “We want toensure MBAs are well prepared for a suc-cessful career launch,” explains GrahamMercer, assistant dean for strategic plan-ning and special projects. He describesLTW as the second “bookend” in theMBA curriculum, with the LeadershipDevelopment Program being the first.

Here are some excerpts from e-mailmessages Dolan received from LTW par-ticipants:

� “The industry workshops were excel-lent. I attended the consulting breakoutsession, which had two presenters: onefrom McKinsey and one from PWC.We were still going strong when thetime ran out.” Peter Conway, MBA ’04.

� “I want you to know these types ofevents do truly help our school differ-

entiate itself from the rest of the top-tier schools and, in a way that mayhave been unintended, have a pro-found impact on alumni such as me. I believe every alum who has a chanceto experience this type of weekendwould be rejuvenated, and this wouldrefresh their belief in the values of aMichigan education.” James E.Perkins, MBA ’91, vice president,human resources, Citigroup Inc.

� “I cannot tell you how happy I am tosee the school is now taking the timeto help second-year MBAs transitionback into the workforce by givingthem a clear and impactful reminderof just who is truly important as youmove through your career. As analum, it is great to see the MichiganBusiness School continue to have suchtalented students and an amazing pro-gram. It was a strong reminder of thebenefits of staying connected to MBSlong after one graduates.” AnneMarieSuarez-Davis, MBA ’99, brand man-ager for Apple Jacks and Corn Pops,Kellogg Company.

The recently revised MBA curriculumreflects the school’s commitment to con-tinually innovate and improve, saysAssociate Dean for Degree ProgramsEugene W. Anderson, who spearheadedthe two-year review process that led tofaculty approval of the new curriculumin 2003.

For members of the Class of 2006—the first to experience the school’s revisedMBA curriculum—benefits include care-fully sequenced core courses, more electivesand the opportunity to focus on specificareas of interest prior to internship inter-views. The changes will give MBAs a legup in the job market, Anderson predicts.

Among recent additions to the BBAcurriculum is a practicum course titledFinance Research Commercialization,designed by David J. Brophy, associateprofessor of finance, and offered for thefirst time this fall. Second-year BBAs andsecond-year MBAs enrolled in the courseare working on technology-basedUniversity start-ups.

“The basic premise is that we’re movingtoward an intellectual property-based world.For the U.S. to maintain leadership, partic-ularly with the growth of outsourcing, wemust leap ahead. Higher and higher tech-nology is part of the answer. This involvesdisclosing inventions, defining markets,justifying patents and moving ahead tocommercialization,” explains Brophy.

Practicum students use the Universityas a living lab. Working in small teamswith researchers who have taken steps tobring their research to market throughthe University of Michigan TechnologyTransfer Office, students are involved atan early stage in the process, analyzingmarket opportunities and resources needed and preparing a first draft of abusiness model and a financial modelderived from it.

“They’re not expected to know thedetails of the technology or life scienceconcepts involved but are closely involvedwith scientists who do. An early-stagebusiness plan will be the deliverable.Successful high-tech entrepreneurs andventure capitalists are serving as mentors,”Brophy says.

Executive Education also is under-going a transformation, trading in itsbroad product line offering for a tailoredportfolio of programs that capitalize onfaculty expertise and pinpoint specific busi-ness needs. New “Centers of Excellence”focus on topical areas that mirror themultidisciplinary nature of the issues facing businesses today.

Michigan’s Executive MBA program,launched in fall 2001 and ranked seventhby U.S. News & World Report magazinein 2004, prepares mid-career professionalsfrom diverse backgrounds to lead andcreate value in their organizations.

The school is raising funds for the corecurriculum, cutting-edge electives andscholarships. “If Michigan is to continueto innovate, we must have the resourcesto invest in program development,”Dolan says.

Capitalize on Co-creationOpportunities

Instead of receiving a pre-packaged set of ideas, students join with faculty, staff,alumni and business partners to co-createeducational experiences that fit the needsand interests of each individual. Also, theRoss School of Business works with otherUniversity of Michigan schools and colleges—Engineering, Natural Resources andEnvironment, Medicine, Education, SocialWork and Law —on complex issues thatbenefit from a multidisciplinary approach.

“One of the key assets of the RossSchool of Business is our position withinone of the great research universities of the world,” says Dolan. “Everywhereyou look around campus you find a greatintellectual partner for studying the mostimportant problems in the world. What

this partnering, this co-creation, allows us to do is offer the unique capability toresearch truly multidisciplinary problemsand also offer students the kind of train-ing that crosses boundaries, the trainingthey need if they’re going to be the leadersin the boundary-less world of today.”

A new dual master’s degree in businessadministration and educational studiesoffered in cooperation with the School ofEducation is an example of what can beaccomplished when University units col-laborate. It prepares graduates to designand lead charter schools and to work inprivate schools, professional developmentprograms within companies and tradi-tional educational publishing companies.

“The increasing involvement of theprivate sector in education at all levels—from charter elementary schools to profit-centered graduate schools—alongwith the clarion calls for virtually allorganizations to become better learningorganizations, suggest that the integra-tion of business acumen and educationalprinciples is a highly relevant degree program for leaders of 21st-centuryorganizations,” says Kim Cameron, pro-fessor of management and organizationsand professor of higher education.

The Erb Environmental ManagementInstitute, a joint program of the RossSchool of Business and School of NaturalResources and Environment, endowed byFrederick A. Erb, BBA ’47, and his wifeBarbara, is another example of co-creation.


Right, Viveca Chan, chair and CEO of Grey GlobalGroup China, an integrated marketing communi-cations group, talks with students at the 14thAnnual Asian Business Conference (ABC) aboutChina and the new global economy. Throughevents such as the ABC, the school’s largest andlongest-running student-organized conference,students hone their leadership and organiza-tional skills and enliven the school’s intellectualenvironment. PHOTO BY STEVE KUZMA


The Erb Institute’s educational arm, theCorporate Environmental ManagementProgram (CEMP), was launched in 1992and offers a wide-ranging curriculumleading to both the MBA and Master ofEnvironmental Studies degrees. CEMPalso supports experiential educationthrough internships and team projects inthe business and nonprofit sectors; pro-vides academic enrichment through sem-inars, executive education, lectures andspecial conferences; and supports multi-disciplinary research on business and theenvironment.

This spring, CEMP student ScottBaron, MBA ’04, received the school’sMBA Entrepreneur of the Year Award.Baron was a finalist for the best overallbusiness plan at the 2004 Global SocialVenture Competition, which provides aglobal forum for entrepreneurs to show-case their plans and for investors to sup-port groundbreaking social ventures. TheSamuel Zell & Robert H. Lurie Institutefor Entrepreneurial Studies helped Baronprepare for the competition held at theLondon Business School in April. Hisplan focused on distributed generationmicrogrids in unelectrified areas of devel-oping countries.

Many Fridays from September to April,the school’s Ford Conference Center is thesite of panel discussions and lectures onbusiness topics organized by student clubs.Through student-led conferences—fromEntrepalooza, the European Business Con-ference and FuturTech to the Women inLeadership Conference and the BlackBusiness School Students’ Annual Con-ference and Alumni Weekend—Michiganbusiness school students enhance the intel-lectual environment for classmates andthe wider community while honing theirown leadership and organizational skills.

Connect Theory and Practice

Action-based learning and interdisciplinary,team-oriented situations develop leaders andideas that change the world.

“An essential element of our MBAprogram is the melding of theory andpractice. Though we know it is essentialto impart basic skills and knowledge toour students in the classroom, the trueway in which we develop their leadershipcapability is through our action-basedlearning programs,” Dolan says. “Ourhallmark action-based learning programis the Multidisciplinary Action Project(MAP) in which, for the final sevenweeks of their first year at the school, allour MBA students go out into the worldof practice where they tackle real-worldproblems.”

Richard H. Rogel, BBA ’70, who has worked with students in the MAPprogram and summer internships, says,“I think it totally broadens their horizonsand gives them a lot of practical experi-ence. I think that is absolutely critical to their education.” Rogel of Avon, Colo-rado, is former chairman and chief exec-utive officer of the Preferred ProviderOrganization of Michigan, a co-chair ofthe University of Michigan’s fundraisingcampaign and a member of the advisoryboard of the Samuel Zell & Robert H.Lurie Institute for Entrepreneurial Studies.In 1996, he and his wife Susan establishedan endowed scholarship to assist businessschool undergraduates with financialneed. Each year up to 10 business stu-dents receive awards. In addition to thebusiness school endowment, the Rogelsestablished the Rogel Scholars Program,which supports out-of-state undergrad-uate students at Michigan. Their $22 million gift is the largest the Universityhas received for financial aid.

From MAP to business competitions,Michigan students team up to put intopractice what they learn in class, notesDolan. In March, Michigan business students won the $20,000 first-place prize in the Walter V. Shipley BusinessLeadership Case Competition “MeetingEthical Challenges in the Business World.”The team—Tony Pandjiris, Ed Chao,Karimah Malcolm and Russel Weir, allMBA ’05 —proposed the award-winningcase solution to the question: What wouldyou do if you were Roger Deromedi,CEO of Kraft Foods Inc., facing a numberof marketplace challenges, includingincreased competition and negative public-

ity related to the nation’s obesity epidemic?”The competition, launched in 2002,

honors Walter Shipley, retired chairmanof the board of the Chase ManhattanCorporation and Chase Manhattan Bank,his leadership and the importance heplaced on the social and ethical impact ofbusiness decisions.

In April, the school’s Delta Epsilon Chi(DEX) Quiz Bowl team, comprised mostlyof undergraduate students, won its thirdinternational championship. The Michiganteam, which has dominated the Quiz Bowlevent since the chapter was founded fouryears ago, also won in 2001 and 2003.DEX is a professional development busi-ness club open to all majors; most membersare pre-business or business students. Eachyear, DEX participates in major competi-tions at state and international careerdevelopment conferences.

Two months later, three promisingyoung brand marketers from Michiganrepresented the United States at the inter-national finals of the L’Oréal Marketing

Award competition in Paris. The teamcomposed of undergraduate business stu-dents Rebecca Paroby, Jaclyn Podor andJennifer Trepeck, all BBA ’05, took tophonors at the U.S. national finals onApril 28 in New York City, defeatingteams from Princeton University, theUniversity of Pennsylvania, New YorkUniversity, Spelman College, MorehouseCollege, Clark Atlanta University andthe Fashion Institute of Technology.

“The Michigan difference is clear: Weare leading in thought and action,” Dolansays. “We are confident we are on the rightpath. We need alumni support as we seekto ignite young minds, develop fresh andimpactful ideas on business practice and


Left to right, Jennifer Trepeck, Rebecca Parobyand Jaclyn Podor, all BBA ’05, won the U.S.finals in the L’Oréal Marketing Award competitionin New York City this spring.

Scott Baron, MBA, ’04, shown here at the 2003American Wind Energy Association Conferencein Austin, Texas, received the school’s MBAEntrepreneur of the Year Award in 2004.

2004 Class Gift GRADS SUPPORT TELECOMMUNICATIONS CENTER,

SCHOLARSHIP AND SPEAKER SERIES

continue our legacy of excellence.“Michigan’s programs require great

hearts and minds,” Dolan continues. “Our programs also require state-of-the-art facilities due to their multidisciplinarynature, their team orientation and theirglobal scope.” Ross’ $100 million gift,three-quarters of which is earmarked forfacilities, moves the school closer to thegoal of a functional, unified, state-of-the-art campus that supports the learning community of the future, Dolan says. Hehopes to bring a proposal to the Regentsfor discussion and approval later thisyear. He also acknowledges additionalfunding beyond the $75 million from theRoss gift will be needed to provide theworld-class facilities Ross, he and othersenvision.

In announcing the Ross gift, PresidentMary Sue Coleman said, “Steve Ross’donation will animate every facet of theschool’s ambitious vision for the future,and will ensure its continued reputationas among the very best business schools in the world.”

With his gift, Ross joins an elite groupof Michigan philanthropists, includingHorace and Mary Rackham, who endow-ed the Horace H. Rackham GraduateSchool and the Rackham Building;William W. Cook, who endowed theLaw School; and William Davidson, who established the William DavidsonInstitute.

Looking back on his days at Michigan,Bill Davidson says, “I was always verymuch interested in sports. I joined a fraternity. We played softball games —probably would have been better doing a little more studying than playing, but I enjoyed the life.”

Davidson, who continues to enjoysports and life, owns three professionalsports teams recently in the spotlight: the Tampa Bay Lightning, which wonhockey’s Stanley Cup in June; the DetroitPistons, which captured the NBA cham-pionship, also in June; and the DetroitShock, the 2003 Women’s NationalBasketball Association champions.

When it comes to donating money,Davidson says, “I really don’t have muchto say to other donors. Each one of themhas to find their reasons for giving. Theonly thing I would say is once you’vemade your fortune so to speak and youhave excess monies, clearly an area thatyou want to give major consideration tois education.”


Members of the Michigan BusinessSchool Class of 2004 wrappedup the academic year with a

generous farewell gift to the school: arecord $539,182 in donations and pledges.

Former MBA Global Blue presidentAnuja Rajendra, who presented a check toDean Robert J. Dolan, noted the high stu-dent participation rate in this year’s cam-paign: 97 percent of MBAs and 46 percentof the BBAs pledged their support over thenext two years. Seventy-nine percent of thestudents in the MAcc class contributed totheir class gift, an alumni scholarship.

Students in the MBA, MAcc and BBAprograms raised $295,117. MBA andBBA gifts and pledges funded the con-struction of a telecommunications centerthat features private phone booths, copyand fax machines, and Internet servicesin a lounge-type setting similar to thatfound at airports and hotel business cen-ters. The center, which opened this fall, is

Presenting the Class of 2004’s gift check to Dean Robert J. Dolan, left to right, are Jonathan Gleicher,BBA ’04, Ann Mickley, MAcc ’04, Tina Wung, BBA ’04, Kyle Yam, BBA ’04, Sunil Thakur, MBA ’04,Jeff Bluestein, MBA ’04, Ted Kanluen, MAcc ’04, Anuja Rajendra, MBA ’04, Tara Backhaus, MBA ’04,Ruchi Misra, MBA ’04, and Nick Hailey, MBA ’04. PHOTOS BY D.C. GOINGS

Donna Zobel, MBA ’04, presents the Executive MBA class gift to Dean Robert J. Dolan. In the background, left to right, are Sunil Thakur and Jeff Bluestein, both MBA ’04.

located on the second floor of WilliamDavidson Hall, near the Office of CareerDevelopment recruiting interview rooms.

All members of the Executive MBAclass contributed to their class gift, raising$244,065 for an Executive MBA SpeakerSeries.

Graduates presented their gifts andpledges at an April 30 celebration underthe portico prior to commencement.Dolan thanked the graduates for theirgenerosity, noting it “signals students’continuing commitment to the school.”

Class Gift Campaign leaders were:� BBA—Jonathan Gleicher, Kyle Yam

and Tina Wung � MBA—Tara Backhaus, Jeff Bluestein,

Nick Hailey, Ruchi Misra, AnujaRajendra and Sunil Thakur

� MAcc—Ted Kanluen, Ann Mickleyand Adam Wise

� Executive MBA—Dan Dolan, DanSalinas and Donna Zobel


Two Men, One Vision

With $100 Million Gift, Steve RossTwo Men, One Vision

With $100 Million Gift, Steve Ross

STEVE KUZMA


The delicate transaction that wouldutterly transform the University ofMichigan Business School began

with a conversation between two men sit-ting comfortably in an elegant but unpre-tentious corner office on the ninth floorof 625 Madison Avenue in New YorkCity in September 2003. The tone wascasual, the topics commonplace—sports,business, kids. Then Dean Robert J.Dolan raised the key item on his agenda.

“Well,” Dolan said, “we have thisfundraising campaign coming up.”

“Yeah,” said his host, “I know.” Theylaughed.

“Well, Steve, have you thought aboutwhat we might be able to ask you to do?”

Stephen M. Ross, BBA ’62—founderand chairman of The Related Companies,arguably the largest real estate firm in theU.S., developer of Time Warner Center,the $1.7 billion complex overlooking thesouthwest corner of Manhattan’s CentralPark—said that yes, in fact, he had beenthinking about that.

“I really want to help you so I figurefifty minimum,” Ross said. He meant $50 million. “But what would it take toname the school?”

The dean had thought about how hewould answer such a question.

“Well, that would be a pretty big num-ber,” he said. “But if that’s what you’d liketo do, Steve, I’d really like to work withyou to make that happen.”

Ross said, “You know, my unclenamed Ohio State.”

Dolan knew that very well. He knewthe little-known story of two separatefortunes made by members of the samefamily, first Max M. Fisher, the Detroitindustrialist and philanthropist, whoendowed the business school of his almamater in Columbus; and now Max’s sister’sson, Steve Ross, who left Detroit for NewYork in the 1960s to make his own way.

“Two people from the same familynaming a business school,” Ross mused.“That would be really cool.”

The dean said: “Steve, the school hashad some great partnerships between deansand donors. I’d like you to take a leader-ship role for this decade and beyond.”

It seemed to Dolan that Ross liked that

way of putting it. Then, with nothingdecided, but with the sense that some-thing big had begun, they parted.

Purely by coincidence, Bob Dolan isone of the world’s leading experts in

the field of pricing. His published casestudies, written during 21 years at theHarvard Business School, have sold morethan a million copies. Now, quite suddenlyand unexpectedly, he found himselfwrestling with the most important pric-ing problem of his career. It was the prob-lem of how to price a commodity thatessentially has no price—the name andreputation of the school he leads, thealma mater of some 36,000 alumni andmany thousands to come.

He knew from his fundraising team thatnaming a business school hadn’t comecheap lately—$62 million for an instituteat the Darden School of Business Admini-stration at the University of Virginia; $60 million for the Garvin School of Inter-national Management in Arizona. Any giftin this range would far exceed the largestsingle gift ever given to Michigan—$33.2million from the Lincoln Knorr estate.

But Dolan also knew that even Ross’extraordinary offer of $50 million wouldnot approach the cost of the physicalimprovements the school needed to bethe best business school in the nation—a goal that he and Ross shared. Comingto Ann Arbor from Boston in 2001, Dolanhad found a physical plant that simplydid not meet the needs of business educa-tion in the 21st century. Professors wereteaching case studies — a form of instruc-tion that demands horseshoe seating—in classrooms shaped like bowling alleys.Students were required to work in groupsin a complex that has only a handful ofgroup study rooms. On the city block thatcomprises the school, newcomers weregreeted by no fewer than five discordantarchitectural styles. From architects atKohn Pedersen Fox (KPF), the New Yorkfirm hired to assess the school’s physicalneeds, Dolan learned that of the top 13U.S. business schools, Michigan rankedtwelfth in square feet per student. (OnlyColumbia, packed into upper Manhattan,had less.) Of the top 10, every one but

Michigan hadspent at least$30 millionon its physi-cal plant inthe last fiveyears.

Thencame costestimates forKPF’s earli-est studies—more than$100 million.And this wasnot for a planto build anew facilitybut simply tofix up the oldone. Dolanwas stunned.Yet fromfaculty,alumni andstudents, hewas hearinga drumbeatfor a transformative change. “People weresaying, ‘Let’s do this right,’” he said. “‘Youhave to do it for the long-term viability ofthe school.’”

Then there was the signal that a trans-forming gift would send, both inside andoutside the campus. “I was thinking,‘What’s the number that will get the schoolexcited?’” Dolan recalled. “What’s thenumber that really says, ‘Wow! Michiganis a player against Harvard, Northwestern,Wharton, all those’?

“In my own mind, I got fixed on thefigure of $100 million.”

But how would that figure strike SteveRoss?

“He wanted to help the school as muchas he could,” Dolan said. “And it wassomething I was pretty sure he could do.”

But would he? And why would he?Why would anyone?

S teve Ross grew up in the 1940s and’50s around Livernois and Six Mile

Road in Detroit, a diverse neighborhoodof middle-class businessmen and profes-


Honors the Past, Looks to the FutureHonors the Past, Looks to the Future

PETER SMITH

“It is extremely gratifying to meto be able to provide the giftthat will have an enduringimpact on the University’sability to incorporate DeanDolan’s vision of becomingthe world’s foremost businessschool,” Steve Ross, right, said.

sionals where the kids went to MumfordHigh. His father was a bright man butless than successful, at least by the highstandard set by Ross’ uncle Max, who wasbuilding a business empire in oil and gas,and becoming one of the nation’s leadingphilanthropists. David Ross invented anearly coffee vending machine and was oneof the first to put additives into oil. But hecouldn’t turn his ideas into money. AskRoss about his family history and hisanswers about his father come in short-hand phrases —“Very creative; not agood business man. Never made a lot ofmoney. Struggled, if you will.” Ask abouthis grandfather and his uncle Max, andhe opens up, telling stories about theirbusiness prowess and their generosity.

Clearly, these twomen set the stan-dards by whichRoss wouldmeasure his ownlife and career.

As a boy, Ross followedMichigan sportsavidly. “Being akid from Detroit,the associationwith Michiganwas very, verystrong,” saidJorge Perez, aMichigan mas-ter’s graduate inurban planningwho became Ross’business partnerand close friend,

now majorityowner of TheRelated Com-panies of Florida.“He felt, growingup, that Michiganwas the greatestschool in theworld.”

Then Ross’family moved toMiami Beach,where his fatherhad taken a jobwith his grand-father in thehotel industry.Ross was miser-

able. “I didn’t like Florida, let’s put it thatway. I really didn’t care about school. Ididn’t get into any trouble; I just wasn’t agood student.” He desperately wanted to goto Michigan, but his grades weren’t goodenough. There were a couple of unhappyyears at the University of Florida, then,after a second application, a transfer toMichigan’s BBA program. It was a turn-ing point. “I studied hard so I could getinto Michigan, and then, when I gotthere, it gave me the self-esteem I needed.It was an environment that challenged memore, really kind of set me straight interms of where I wanted to go. And putmore fire in my belly.”

After earning a law degree at WayneState and a master’s in tax law at NewYork University, Ross worked as a taxlawyer for two years at the accountingfirm of Coopers & Lybrand in Detroit.Almost immediately, he tired of tax law.And he had fallen in love with NewYork. On the day after Robert Kennedywas assassinated in 1968, Ross was sittingin his office, pondering the unpredictabil-ity of life and death, when a partner inthe firm came in and asked if he’d like toattend a seminar in New York. Withouta moment’s thought, Ross replied: “Thatsounds great. But I think I want to go toNew York for good. In fact, I’m quitting.”

He remembered: “I wanted to do some-thing else with my life. I had worked withclients in real estate, and I saw the successthey had. And I realized that I reallyloved real estate and the deal business.”

And there was another reason to leave.“People in Detroit were always saying,‘You’re Max Fisher’s nephew; why doyou need anything?’ In New York, I wasmy own man.”

Ross picked up experience at two

investment firms, then in 1972 he wrote abusiness plan. His long-term goal was todevelop real estate. What he knew best, inthe short term, were the intricate tax lawsgoverning federally subsidized housing.His start-up idea was to organize deals bywhich wealthy investors incurred risk-freetax losses in affordable housing to shelterother income. Ross made $150,000 in hisfirst year and was on his way. His motherhad lent him $10,000 to cover living expens-es. His uncle had lent him nothing.

“He never asked me,” Max Fisher, now96, remembers. “I felt that he was a manof unusual qualities, and he was going togo a long way. He didn’t need my help.”

Syndicated tax shelters led to develop-ment deals for affordable housing com-plexes, financial services for the affordablehousing industry, property management,and more and more real estate ventures—apartments, condominiums, retail, officeparks and mixed-use developments, ini-tially concentrated largely in the northeastand Florida.

“I was a pretty determined person inthose days,” he says now. Then he smiles,as if to himself. “Certain things haven’tchanged.”

His associates attribute Ross’ success to a range of talents. Jeff Blau, BBA ’90,the 36-year-old who, as president of TheRelated Companies, is the firm’s number-two figure and heir apparent, cited Ross’insistence on high-quality architecture andengineering, a tenacious grasp of details,an eye for talent, an ability to inspire strongloyalty among subordinates and greatingenuity in the financing of highly com-plex deals. Jorge Perez emphasizes Ross’strategic vision: “He’s always had a greatability to see where the trends are goingand the nimbleness to change accordingly.”

In the mid-1980s, Ross moved thecompany to its current quarters. Lookingwest along Central Park South, he couldsee the massive old Coliseum, a shabbyrelic just across Columbus Circle. Yearafter year, Ross looked out his window at that site. It occurred to him that if thiswas the best available site for a newdevelopment in Manhattan, which itprobably was, and if New York was thegreatest city in the world—a belief towhich Ross holds devoutly—then itstood to reason that he was looking at the single greatest real estate site in theworld. When other deals to replace theColiseum fell apart, Ross jumped in.

Dismal parades of resistance had blockedother efforts, but Ross pushed through


T H E M I C H I G A N D I F F E R E N C E

Kara and Steve Ross in his office at The Related Companies

“To me, your great success iswith people,” Max Fisher, left,told his nephew Steve Ross.

PHOTO BY PETER SMITH

JENNIFER ALTMAN

his plan to create Time Warner Center—two 80-story towers atop a soaring glassatrium covering top-drawer retailers, ajazz concert hall (which Ross and hispartners funded with their own dona-tions) and a luxury hotel, the MandarinOriental. The development put Ross andRelated among the all-stars of major-league developers, which led in turn tomore major projects, now underway, inNew York, Los Angeles and elsewhere.Time Warner Center, home to the mediagiant with its studios and headquarters,opened in early 2004. It has been calledthe most significant development in mid-town Manhattan since Rockefeller Center.The Related Companies will move insoon, as will Ross and his family—hiswife, Kara, her two daughters and Ross’two daughters from a previous marriage.

As that seven-year mega-project nearedcompletion, Ross, then entering his 60s,was looking for new things to do. Hebecame one of the driving forces in NYC2012, the organization that is seeking tobring the Summer Olympics to New York.And he started to take a larger interest inhis alma mater. He already had given sig-nificant gifts to the University — to endowa professorship in the Business School andto help launch the new athletic academiccenter. Now his interest intensified as hecame to know the new business dean.

Ross’ office was one of Dolan’s firststops as he made his rounds to meet lead-ing alumni. Dolan sought the developer’sadvice on the changes he was undertak-ing to expand the school’s emphasis onaction-based learning programs in real-world settings. When Ross gave a dinnerat the Metropolitan Club to introduceDolan to other New York alumni, he andKathleen Dolan met and hit it off, and shewatched as a friendship began to germinatebetween the New Yorker and her husband.

“He’s a maverick,” Ross told her. “AndI love mavericks.”

D olan, admittedly, was not the seasonednegotiator that Steve Ross was. In all

those years at Harvard, even as a seniorfaculty member, he had never raised a dime.Once, when he was asked to run a funddrive at one of his kids’ schools, he askedhow much they needed, thinking he mightante up for the total to avoid the chore. Nowhe faced the prospect of asking a masterdealmaker for the gift of a lifetime. “Ifsomeone had asked me what’s the likeli-hood of me, a kid from Boston, connect-ing with a big New York City real estate

Architectural Excellence:The Related Companies

T he Related Companies, with itsteam of more than 1,500 profes-

sionals who oversee a real estate portfo-lio valued in excess of $8 billion, is afully integrated real estate firm withdivisions specializing in development,acquisitions, financial services, propertymanagement, sales and marketing.

Founded in 1972 and headquarteredin New York City, Related has becomesynonymous with architectural excel-lence throughout the country and hasmajor developments, partners andoffices in Miami, Chicago and LosAngeles, as well as New York.

Key members of The RelatedCompanies’ management team,President Jeff Blau, BBA ’90, and CFOMichael J. Brenner, MBA ’68, graduat-ed from what is now the Stephen M.Ross School of Business.


The company has approximately $4 billion in projects under construction,making it one of the most prominentdevelopers in the United States. TheRelated Companies is also the largestshareholder in CharterMac, the largestfinancier of affordable housing in theUnited States, with approximately250,000 units in 44 states.

For more about The RelatedCompanies, visit www.related.com.

Top: Time Warner Center, which opened inearly 2004, has been called the most signifi-cant development in midtown Manhattansince Rockefeller Center.

Middle: The Related Companies PresidentJeff Blau, left, met Steve Ross in a Michiganreal estate class when Blau was a student.

Bottom: Metronome, the 98-foot by 200-footart wall commissioned by The Related Com-panies for the façade of One Union Square in New York City, was created by artistsKristin Jones and Andrew Ginzel. Metronomeis an investigation into the nature of time—geological, historical, celestial and real time.

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developer, I’d say, ‘Gee, I don’t know.’”Traditionally, Michigan has not named

its schools and colleges. The A. AlfredTaubman College of Architecture andUrban Planning and the Gerald R. FordSchool of Public Policy are the exceptions.The honor can be granted only once foreach school, so it must not be granted easily.Dolan knew such a change would requirethe approval of President Mary SueColeman and the Regents. He also knewthat a benefactor preparing to make thesort of monumental gift that Dolan want-ed had every right to expect recognition.

He met again with Ross in December,in New York. Michael Andreasen, assis-tant dean for development, came along.

Ross went straight to the point. Hesaid he wanted to make a naming gift tothe Business School of $50 million.

“I sat on his couch,” Dolan remembers,“and I’m thinking to myself, ‘I can’t believewhat I’m about to do.’”

The dean said: “No. Can’t do it.”Ross laughed. “Well, I think that’s

enough,” he said. “I even talked to myuncle about it.”

Dolan smiled. “That’s not fair. I hadintended to enlist him as my adviser.”

Ross asked: “Well, how much is it?”“Steve, we’re looking at north of a

hundred million bucks to name theBusiness School.”

Still smiling, Ross said, “That’s nuts.” Hewent to his door and called across the hall:“Hey, Blau, come here! You won’t believethese guys! It’s way more than we thought!”

Afterward, Andreasen turned toDolan and said: “It’s amazing. People gothrough their whole development careershoping they’ll get a $10 million gift. Andwe just turned down fifty.”

E arly in 2004, Dolan was back on Ross’ couch. Since the dean’s “no”

in December, the two had continued tocorrespond and talk. Ross was intenselyinterested in the Business School studiesbeing done at KPF, the architecture firm,which, by coincidence, was around thecorner from The Related Companies,though Ross had never done business withthe firm. Each talk was good-natured, withmuch discussion of the college plans ofRoss’ oldest daughter. (“He wants every-body’s kids to go to Michigan,” JorgePerez confides.)

“There has not been a meeting in whichthere isn’t some humor and laughter,”Dolan said. “There was never any doubtin my mind that Steve was going to dosomething very significant. It was nevergoing to happen that I was going to say,‘It’s a hundred million,’ and he was goingto say, ‘Get out of here and don’t comeback.’ His love for the school was suchthat we were always going to work some-thing out.”

Ross, too, was pleased with the rela-tionship that was developing betweenhimself and the dean.

“He’s not a real blow-hard,” Ross said.“But when you listen to the guy, you realizethat he’s someone with a vision, and he’swilling to make changes to accomplish it.”

But they were still $50 million apart.Sitting over lunch that day, Ross showed

that he had done his homework. He citednaming gifts at other business schoolsthat were much less than $100 million.

“What you’re asking me—it’s just nota good deal,” he said. “Everybody I talkto says fifty million is the right number.”

“Well, this is Michigan,” Dolan said.“This is different.”

Ross asked the dean to put down onpaper “an economic rationale” for giving$100 million to name the school. “Tellme: How is this a good deal?”

Dolan returned to Ann Arbor. He wasback to his pricing problem. Dolan knewthat Ross, despite his enormous love forMichigan, was still thinking as a developerand a dealmaker. It would go againstRoss’ instincts to consider the matter inany other way. The challenge, Dolanrealized, was to get Ross to do just that—to change the terms of his thinking.

Dolan composed a letter. He cited sev-eral recent gifts of $100 million and muchmore that had brought about the namingof various schools at other universities—though none for business schools. Thenhe came to his main point.

“I can’t give you an ‘economic rationale’for a gift like this,” the dean wrote. “I can,however, assure you that a gift of thismagnitude will propel the school into anew era of greatness.

“Truthfully, it comes down to a simplefact: This would be an incredible, inspi-rational act of generosity on your part.”

T hrough all their discussions, Ross wasthe most determined advocate of an

argument that Dolan was hearing inmany quarters. Buildings are built fromthe inside out, Ross said, and he trustedDolan to find out what the school neededon the inside—the right classrooms, studyrooms, offices and technology. But on theoutside, there must be a “unified look andfeel.” He said a new Business School mustmake the same sort of visual impression onvisitors and the campus community thatis made by the Law School—a single,harmonious statement conveying theschool’s purpose and standing.

But to do that, Dolan was learning, thecost would be high. One option was tobuild additions that would integrate wellwith the existing facilities, and “reclad” theDavidson Tower to match both the newand the old. But KPF reported that thecost of such a plan would be enormous—for changes that in part would be merelycosmetic.

Dolan reported all this to Ross.“I’d say, ‘I need to get a hundred because

I have to be able to do this building right,and because we need to grow our endow-ment,’” Dolan recalled. “‘You’re encour-aging me to do this building right, andthat’s really expensive.’ He’d say, ‘It can’tbe that expensive.’ I said, ‘It is.’”

A turning point came when Ross sentone of his experts, Michael Loughran, tomake his own inquiries with the architectsat KPF. Loughran came back a believer.He assured his boss that the cost estimateswere legitimate, and reminded him thatstate-of-the-art educational facilities arehighly sophisticated structures that carrylarger costs than office and residentialbuildings. Discussions now edged higherthan $50 million, toward $75 million andbeyond, though nothing was certain, andthe structure of the gift was up in the air.

On April 15, Dolan arrived in NewYork for what turned into a full day ofwork—intermittent meetings with Ross,waiting time while Ross dashed to hisconference room for other business,lunch, talks with the KPF architects.Finally, at the end of the day, Ross said:



Robert J. Dolan, left, and Steve Ross

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to the front and Bob Dolan stepped to thelectern, before anyone said a word intothe microphones, there was a spontaneousstanding ovation. And Ross leaned downfor a word with his uncle Max, who saidto him: “Steve, I’m very proud of you forwhat you’ve accomplished and what you’vedone today.”

At the end of the day, when Ross andDolan walked out the front door to leave,they saw first-year MBA students perform-ing their section chants in the AlessiCourtyard. When the two men strolledover to watch, the students— again, spon-taneously — broke into a new, impromptuchant: “THANK YOU, ROSS! THANKYOU, ROSS!” And after a few minutes,when Ross and Dolan waved and beganto move off, the students began to sing“The Victors.”

“Oh, man,” Ross said later. “I’ll neverforget that. It was incredible. That wholeday was so exhilarating—recognizingthat something you did was so muchmore important than you even thought itwould be. It was fantastic.

“At that moment, if they’d have said,‘Hey, gimme another hundred!’ I’d havesaid, ‘Okay!’”

James Tobin

A Name Change

D ividend readers will find the schoolreferred to as both the Michigan

Business School and the Stephen M. RossSchool of Business in this issue. Becauseof the historical significance of the Rossstory, Dividend’s fall publication schedulewas delayed to include articles about Rossand the gift. Articles and advertisementsdone prior to September 9 refer to theschool by its old name and include theold brandmark.

By January 1, all school publications andoffices will refer to the school by its propername—the Stephen M. Ross School ofBusiness at the University of Michigan orRoss School of Business for short.


Dean Robert J. Dolan, right, said to SteveRoss, “Your gift is a powerful expression ofyour belief in us. We’re really proud of the con-fidence that you have in us, and we are mostthankful for this transforming gift.”

PHOTO BY MARTIN VLOET

Robert Dolan, left, and Steve Ross under the portico

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“You really want to announce this at ahundred, don’t you?”

Dolan said: “It would be great for theschool. It would be great for me. And Ithink it would be good for you, too.”

“Yeah,” Ross said. “I think you’re right.” Then he asked: “What would the name

of the school be?”Dolan said: “Well, I’ve been thinking

a lot about that.” He stood up, put out hishand, and said: “Anything you want.”

The figure of $100 million had beenagreed upon. As to the structure and tim-ing of the gift, there were many details tobe worked out, and many more meetings.The final arrangements specified $75 mil-lion for the renovation and expansion offacilities and $25 million for the endowmentof the Stephen M. Ross School of Business.

“I’m excited to help create facilities that

will enhance Dean Dolan’s impressive vision

for team-based learning and leadership.”

� � �

A fter a quick trip to Athens for theOlympics, Ross spent the last few days

of the summer at his bay-side retreat nearthe eastern end of Long Island. One lateafternoon, he stepped off his boat, walkedup the long lawn and sat down to reflecton his native and adopted states.

“I’ve always liked Michigan,” he said.“I came to New York because beingyoung and smart it was a place where, ifyou could make it there, you could make itanywhere—and at the same time have alot of fun. Yet there’s still a sense of easternentitlement that exists, and I don’t thinkyou feel that when you go to Michigan. Ithink the work ethic there is a littlestronger. Students there are just as brightas any students in any college. I thinkMichigan students sometimes undervaluethemselves. They’re a little awed by theEast. But I think when you get somebodywho can see through that, and have con-fidence in themselves, you have some-body who can go a lot further.”

He talked proudly of the Michigangraduates in his company—Jeff Blau;Jorge Perez; his CFO, Mike Brenner,MBA ’68; and others.

“You get by giving,” he said. “What did Iend up with as a result of my previous giv-ing to Michigan? I ended up with a futurepresident of my company. And I tell Jeff,‘Hey, I started this; you’re the next guy.’It’s very important that people believe ingiving back. Life is not a one-way street.I’ve had so many good things happen tome that I want to help the next genera-tion. That’s how companies survive, that’s

how schools survive—and we all do better.”

T he gift wasannounced on

September 9. It was along, good day in AnnArbor. It began at 7:30a.m., when the Regents,in a special session, gavethe Business School itsnew name. At 11 a.m.,in Hale Auditorium, acrowd gathered andoverflowed into thenearby hallways, andwhen Steve Ross came

The Related CompaniesCEO says, “It is importantto never forget where one comes from and howone got there.”

As the packed Hale Auditoriumcrowd rose to its feet to saluteStephen M. Ross, BBA ’62, for

his $100 million gift to the University ofMichigan Business School, his daughtersmotioned for him to turn around.

On a video screen behind the podium,the Michigan Business School’s logo andslogan had been replaced by the words“Stephen M. Ross School of Business atthe University of Michigan.”

Ross peeked over his shoulder, turnedaround and smiled broadly at his daugh-ters. He then turned back around a fewmore times to look at the words as if tomake sure his eyes weren’t failing him.

“It seems it was only yesterday that I washere as a student,’’ Ross told the audienceof students, faculty and administrators.“Never would I have dreamt that theschool would one day bear my name.”

The gift from Ross, a New York Cityreal estate developer, is the largest donationever to a U.S. business school and thelargest gift to the University in its 187-yearhistory. In recognition of it, the University’sBoard of Regents met September 9 in specialsession to rename the school in his honor.

“What inspired me to make the gift

was that, as everyone here knows, theUniversity of Michigan is an extraordinaryinstitution unlike any other in the UnitedStates,” Ross said. “It’s a place of commit-ment, compassion and camaraderie. It is aplace of academic excellence and esteem,one that feels more like a large extendedfamily than a large public university.”

Ross, who earned his degree in account-ing from the Business School, is founder,chairman and chief executive officer ofThe Related Companies, L.P., developerof Time Warner Center on ColumbusCircle in New York City. The companyis one of the most prominent real estatedevelopers in the country.

“The University of Michigan made adifference in my life,” Ross said. “I knowfirsthand the truly exceptional academicprograms Michigan offers its students.The days I spent here laid the foundationfor my career and taught me lessons Iwill never forget.”

Many of the school’s students wedgedthemselves into Hale and two overflowrooms to hear the announcement they hadpreviously only been teased about. Signsand an e-mail from Dean Robert J. Dolanpromised an “extraordinary announce-ment and celebration.”

But soon word spread among the stu-dents about Ross’ gift, so before a word

was spoken, the entire auditorium rose as one to give him a long, rousing ovationas he entered.

“This wonderful donation of SteveRoss will animate every part of theBusiness School’s aspirations and plans,”President Mary Sue Coleman said. “Theambitious vision of the future will helpour students; it will help students noteven born yet. This really does propel thisbusiness school to the future.”

Ross, co-chair of The MichiganDifference, the University’s $2.5 billionfundraising campaign, credited Dolan’sleadership, vision and “great salesman-ship” for convincing him to make the$100 million gift.

Dolan said a portion of the money willgo to the endowment to attract facultyand students, as well as fund the school’sinnovative programming.

The Ross gift and other donations theschool hopes to receive “will enable us todevelop the facilities that we really needto support our programs and the learningcommunity of the future,” Dolan said.

The dean said he and others have spentthe past 18 months talking with students,faculty, alumni and friends of the school,trying to answer the question, “What doesthe plan look like that will enable us to bethe best business school going forward?”


Hundreds Gather to Cheer and Celebrate Historic Gift

President Mary Sue Coleman and Steve Ross at the announcement PHOTO BY MARTIN VLOET

The University community, friends and family give Steve Ross a standing ovation.

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The buzz began early September 9,increasing in intensity as news spreadof a major announcement scheduled

at 11 a.m. in Hale Auditorium. Brightblue fliers were posted at entrances to theschool, and Dean Robert J. Dolan invitedstudents, faculty and staff by e-mail to an“extraordinary, historic announcement.”

Here, Dividend photographers SteveKuzma, Peter Smith and Martin Vloetshare images of the festivities and peoplemarking the day the Michigan BusinessSchool became the Stephen M. Ross Schoolof Business.

Dolan hopes to bring to the Board ofRegents specific proposals for discussion andapproval later this year. Ross’ previous giftsto the University include a $5 million leadgift toward funding of a new athletic aca-demic center. He donated $1 million toestablish an endowed professorship in realestate at the Business School and $50,000 to establish the Henry Pearce EndowedFellowship in the College of Literature, Sci-ence, and the Arts. He also inspired theBusiness School’s annual Real Estate Forum.

“It is important to never forget whereone comes from and how one got there,”Ross told the exuberant audience. Hethanked family members, including hisuncle, well-known financier and philan-thropist Max M. Fisher, for their support.Ross also expressed gratitude for lessonshe has learned from Fisher—about busi-ness and about life.

Fisher, 96, told the audience that heturned his nephew on to gift-giving to hisalma mater. Fisher attended Ohio State

University and contributed $20 million toOSU’s College of Business building cam-paign in 1993. In recognition of his gift,the college was designated the Max M.Fisher College of Business.

Wearing a blue blazer with yellowpocket kerchief, Fisher recalled that whenRoss was an undergraduate student, Fisherloaned his nephew money. After gradua-tion, Ross tried to repay his uncle. “I said,‘Stephen, I don’t want your money. But Iwould like to see you use that money foranother fine purpose.’ I want you toknow that I started all of this.

“A lot of people make a lot of moneyand don’t know what to do with it,”Fisher said, speaking to Ross. “But allthrough the years I’ve known you, youwere always thinking about helpingsomebody else. To me, your great successis with people. I love you and appreciateeverything you stand for.”

Dan Shine

Remembering anExtraordinary Day

Dorothy Tessler and her brother Max Fisher celebrate a family giving tradition.

Provost Paul Courant and Vice President for Communications Lisa Rudgers

A quiet moment for Steve Ross and his wife Karain the midst of ahectic day.

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Roger Sutton, manager of broadcast mediaat the University’s News Service, prepares SteveRoss, center, and Dean Robert J. Dolan for a live CNBC broadcast from the WilliamDavidson Institute studio on September 9.

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Mary Sue Coleman, Athletic Director Bill Martin andSteve Ross STEVE KUZMA

Steve Ross waves to family STEVE KUZMA

Richard H. Rogel, BBA’70, co-chair of theUniversity’s MichiganDifference campaign,applauds his friend, SteveRoss. Later, in luncheonremarks, Rogel woulddescribe the Ross gift as a “tremendous send-off forthe campaign.”

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Making the Business Case for New Facilities

Fifteen years ago, Michigan BusinessSchool facilities were among thebest of the nation’s top 10 business

schools. “Almost everyone looked atMichigan with admiration. In 15 years,we have gone from the top to the bottomof the heap in terms of facilities,” assertsKim S. Cameron, professor of manage-ment and organizations.

Except for two classrooms originallydesigned for executive education and thenew John R. and Georgene M. TozziElectronic Business and Finance Center,classrooms in Davidson Hall, PatonAccounting Center and Assembly Hallare “inadequate, outdated and behind thetimes,” says Cameron. “We simply do nothave any flexible space. We also havemuch less space per student than othertop business schools.”

The school’s prospects improved dra-matically on September 9, of course,when President Mary Sue Colemanannounced Stephen M. Ross’ $100 milliongift, including $75 million for facilities.The business case for a new campusmakes the needs apparent.

Competitors—Harvard University,Stanford University, University ofPennsylvania (Wharton), NorthwesternUniversity (Kellogg), Columbia University,University of Chicago, University ofCalifornia-Berkeley (Haas), EmoryUniversity and the University of Wisconsin-Madison— have made substantial capitalimprovements within the last five to sevenyears. In contrast, the Business School—now the Stephen M. Ross School ofBusiness—campus has developed piece-meal over 30 years. It no longer reflectsthe school’s academic mission, says DeanRobert J. Dolan. “Our physical plantdoesn’t support the team-based programswe are running. And among top-tierbusiness schools, the competition for thebest students and faculty stars is intense.Modern facilities can make the criticaldifference in recruiting and teaching.”

Cameron was dean of Case WesternReserve University’s Weatherhead School


Christine Hayes, BBA’06, thanks Steve Ross forhis gift and asks him toautograph her textbook.

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Left to right, Jeff Blau,BBA ’90, Stephen Gaffney,MBA ’05, and Steve andKara Ross read all aboutthe gift in the Ann ArborNews.

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Detroit Fox 2 News cameraman DalePegg and WWJ reporter Pat Sweeting inter-view Steve Ross. In all, more than 130newspapers and magazines and 50 radioand television stations covered the story.

STEVE KUZMA

Left, Provost Paul Courant,Regent Olivia Maynard andUniversity CFO Tim Slottow

Steve Ross, left, relaxes with friends Sally Martin, Bill Martin, MBA ’65, andProfessor Robert Kennedy.

President Mary Sue Colemancelebrates with MBA ’05 students,left to right, Marcelo Freitas, MarcelloDe Zagottas, Roxana Spitaleri andAlejandro Risso.

Coleman, left, and DorothyTessler, Steve Ross’ aunt

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of Management in 1998–2000 and workedwith architect Frank O. Gehry to designWeatherhead’s six-level, $61.7 millionPeter B. Lewis Building, which was dedi-cated in October 2002. “Learning is a socialevent,” Cameron says. “You must have lotsof chance meetings in buildings, and wehave no such space.” The school’s crampedquarters also limit growth, includingexpansion of the BBA and ExecutiveMBA programs, he adds.

Faculty can’t find rooms large enough toaccommodate all the students who want totake the most popular classes, says ThomasC. Kinnear, the Eugene Applebaum Pro-fessor of Entrepreneurial Studies. “Ourlarger classrooms are inflexible and lackgood sightlines for both faculty and studentsand such common amenities as multiplewhite boards.” The majority of rooms are not suitable for our more interactivecurriculum, with its emphasis on action-based learning and students working insmall groups, Kinnear adds.

“Facilities were an issue I recognized assoon as I arrived three years ago,” Dolansays. In May, the school announced aspart of its fundraising campaign—TheMichigan Difference: Leading in Thoughtand Action—intentions to renovate andupgrade the school’s existing 439,000-square-foot campus to address majorshortcomings and improve functionality.

For Ross, BBA ’62, replacing his almamater’s aging, outmoded buildings withunified, functional, aesthetically pleasingfacilities on the existing footprint is anexhilarating challenge.

“Having the right facilities will giveour faculty an edge. I would like to seethe school have a clearly defined frontdoor so the outside is as impressive whenpeople walk through that door as what ishappening inside,” Ross says.

In addition to its major benefactor, theschool has another powerful ally and fund-raiser, President Coleman. Speaking at theschool’s campaign kickoff dinner held atthe University’s new Palmer Commons,Coleman told donors, “Our BusinessSchool is one of the best in the country,and our aspirations must continue to behigh.” She noted that Dolan has beentalking with her about facilities since she arrived on campus in 2002. However,it was a trip to the University of NorthCarolina that persuaded her. “I left NorthCarolina in 1993. When I returned andsaw the Kenan-Flagler Business Schooland what a difference its wonderful newconference center has made, I becameconvinced of what we need to do.”

Graham Mercer, assistant dean forstrategic planning and special projects,has been working with the New Yorkarchitectural firm Kohn Pedersen FoxAssociates (KPF) and a school steeringcommittee to develop a strategic facilitiesplan. KPF designed and built Wharton’snew Huntsman Hall and created the strate-gic plan for the University of Chicago’snew business school campus, now underconstruction. Cameron, Kinnear and DanaMuir, the Louis and Myrtle MoskowitzResearch Professor of Business and Law,represent faculty on the steering committee.

Lesa Chittenden Lim, MBA ’86, chair-person of the Ross School of BusinessAlumni Society Board of Governors, alsoserves on the committee. The Philadelphiaresident, president of the managementconsulting firm LMCL and professionalartist, says, “Our strategy is to create leaders.We differentiate ourselves from other topschools by providing an environment thatfacilitates teamwork and fosters teamleadership. We need the right facilities —study rooms — to enable teamwork.”

Drawing on the KPF program review,strategic facilities plans under discussionto create the home for the learning com-munity of the future include:

� Construct a new building that wouldhouse 12 new tiered classrooms andsix flat floor classrooms to accommo-date a variety of teaching styles.

� Build 36 new enclosed group studyrooms combined with informal/opengroup study spaces and seating in thecafé, library and lounges to providegroup study seats for 66 percent of theMBA and BBA students. The school,with more than 2,800 BBA and MBAstudents, now has only 12 formalgroup study rooms, all located inKresge Library.

� Create a hub of student spaces in a glass-enclosed winter garden in the centerof the MBA/BBA portion of the cam-pus, which is now an open courtyard.

� Organize a student services suite com-prised of Academic Services, FinancialAid, Admissions and the Office ofCareer Development.

� Expand the number of faculty officesfrom 168 to 210 and cluster the officestogether to promote interaction amongfaculty and nurture a vigorous facultyculture.

� Create an attractive and obviousentrance, a “front door” that wouldtake advantage of the school’s centralUniversity campus location.


EDITOR’S NOTE

At 11 a.m. on September 9, the RossSchool of Business celebrated the gift and renaming of the school with the debut of a new Web site,www.bus.umich.edu/RossB-SchoolGift/, thefirst in the University’s history to honor a donor.

Professor Tyler Schumway teaches inthe Tozzi Center, one of the school’sstate-of-the-art teaching spaces.

Design, fundraising and Regentapprovals are all interconnected, notesDolan, who hopes to bring a proposal tothe Regents for discussion later this year.“The design influences fundraising, andthe actual amount raised will influencethe design and the Regents’ decisions,” hesays. If ballpark estimates are correct, theschool would need an additional $50 mil-lion to erect the kind of structure Rossand Dolan envision.

Chittenden Lim believes alumni willrise to the fundraising challenge. “It iscompelling. There is a critical need, andindividuals can make a difference. This issomething we must do. Michigan alumnibenefit from keeping the Ross School ofBusiness a top-ranked school. A strongreputation helps all alumni in their careers,”she adds. “Our strategy to create leadersincludes recruiting best-in-class students,providing an educational environmentthat fosters best-in-class leadership, andmarketing the skills and training of ourgraduates to best-in-class organizations.We need our facilities to create a best-in-class image to potential students andrecruiters,” says Chittenden Lim.

Dolan agrees: “The Michigan Difference:Leading in Thought and Action is allabout creating a facility that supports ourmission and enables us to be the premierdeveloper of business leadership talent.”

Mary Jo Frank

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a vast network of corporateand nonprofit relationshipsand are screened for busi-ness challenge and rigor-ous analysis potential.

The largest programof its kind in the nation,“MAP exemplifies theBusiness School’s com-mitment to connectingtheory and practicethrough action-basedlearning and inter-disciplinary, team-oriented situationsthat develop lead-ers and ideas that change theworld,” saysDean Robert J.Dolan.

Financialsupport for

MAP and otherfield-based experiences,

which are more costly to operatethan a traditional case study/lecture class,is one of the goals of the school’s capitalcampaign—The Michigan Difference:Leading in Thought and Action.

Reflecting on their MAP experiences,Mark Tholke, MBA and MS ’03, whoserved as co-president of Michigan NetImpact, and Daryl Leach, MBA ’03, apast president of the Business School’sStudent Government Association, recallMAP as a highlight of a MichiganBusiness School-branded curriculum that

MAP—short for Multidisciplin-ary Action Projects— is

one reason Mariana Nikolova, MBA ’05,traveled from her native Bulgaria to AnnArbor to earn an MBA. The MichiganBusiness School’s MAP program tips thedecision for many students looking for atop MBA program that excels in develop-ing leaders.

“MAP was an opportunity to learn howAmerican companies work. I learnedthey have the same problems as organiza-

tions at home.I also learnedmore abouthow multina-tional compa-nies operate,”explainsNikolova, oneof more than400 MichiganMBA stu-dents whoparticipatedin MAP lastspring. MBAstudents

enroll in MAP, a seven-week, intense-immersion program at the end of theirfirst year. Students bid on managementconsulting projects that are derived from

Former President Jimmy Carter and Rosalynn Carter, center, met with faculty adviser Len Middleton,top left, and members of the Habitat for Humanity International IMAP team at the Plains Inn in Plains,Georgia, in March when the team visited Habitat’s international headquarters in Americus. Left toright, students Jeehyang Kim, Russatta Buford, Chandra Coleman, Katherine Richardson, JonathanSoffin and Pritesh Patel helped Habitat create its first international strategic plan. As part of theirresearch, team members worked in subgroups on projects in El Salvador, Hungary and South Africa.

Business School’s MAP

Mariana Nikolova, MBA ’05

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emphasizes leadership.On many of the MAP teams, students

rotate responsibilities, including being incharge. Working in teams of four to six,students bring analytical skills, the latestresearch findings and new approaches tofirms and nonprofits that compete to beMAP sponsors. MAP serves as a capstone,giving students an opportunity to practicelessons learned and, for many, influenc-ing second-year elective decisions.

This year 84 MAP teams participated in four variations of the program: CMAP(corporate), IMAP (international), EMAP(entrepreneurial) and XMAP (experi-mental). In addition, 59 senior managersin the Executive MBA program partici-pated in 12 ExecMAP assignments.

The majority of students participate in CMAP and IMAP. Originally begun as a domestic program in 1992, MAPventured into the international realm in1995 with one IMAP team. A year later,IMAP grew to six teams with the supportof Stanley Frankel, MBA ’64, who nowfunds more than half of the school’sGlobal Projects Program each year.

Since 1995, 853 Michigan studentshave traveled to Africa, Australia,Central and South America, Europe and the Middle East to work on businessplans and marketing strategies as part of IMAP. In 2004, a record 164 studentsworked on 36 IMAP teams. Among theprojects, teams consulted for Habitat forHumanity in Hungary, South Africa andCosta Rica; Rainforest Expeditions inPeru; and Alfa Romeo in Russia.



Left to right, Interlink Networks liaisons Debbie Ziolkowski, Randy Dence and EMAP team membersAlejandro Matoso, Mitchell Hollberg, Addison Golladay, Akash Randhar and Brian Loh relax follow-ing the team’s final presentation.

Left to right, Pritesh Patel and Jonathan Soffinpitched in on a Habitat work day in SouthAfrica. Habitat’s goal is to eliminate povertyhousing and homelessness.

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Mark Tholke, MBA and MS ’03 GE Wind Energy

Daryl Leach, MBA ’03 Ethicon Endo-Surgery

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Andrew Lawlor, director of the GlobalMBA projects at the Business School,says, “We couldn’t have sustained thegrowth in our international programswithout Stan Frankel. Through histremendous generosity, he is providingamazing opportunities for our studentsand the school.”

EMAP, begun as a pilot program in2001, fielded 10 teams this spring.Projects included:

� Developing a market strategy forlaunching Interlink Networks’ wireless security software productcodenamed Soft Padlock. The five-member team focused on which

customers the Ann Arbor-basedInterlink should target and howInterlink should reach them.

� Providing the early-stage biotechnolo-gy company Velcura Therapeutics Inc.information and strategies to createrevenue-generating partnerships.Velcura, located in Ann Arbor, isworking on new therapies for treatingosteoporosis, bone fractures, gum dis-ease and other bone diseases.Each MAP team experience is one-

of-a-kind, shaped by participants and circumstances. In the following pages,students, faculty and MAP liaisons sharea few of the lessons they learned throughMAP.

For more information about sponsor-ing a MAP team, contact Gale Amyx,managing director, at [email protected] call 734.763.2463.

Learning to Manage:

Everything from Scope and Timelines to Deliverables

Just days before their final writtenreport to high-level executives wasdue, members of the Domino’s Pizza

Multidisciplinary Action Team (MAP)were mired in research data, strugglingto separate the meaningful from theminutia.

“They had worked hard and hadreams of data as well as anecdotal feed-back. Everything was there,” recallsKatherine Erdman, adjunct lecturer ofbusiness communication and a MAPteam adviser, describing how she met

with stressed team members at 9 o’clockthat night to talk about what must bedone. “The report needed to be organ-ized differently. The text needed to berestructured and sequenced so that theirinsights and recommendations camethrough clearly and with impact,”Erdman says.

By noon the next day, the students hadthe report reorganized and the Power-Point presentation under control, a crisisaverted. The students went on to dazzleDomino’s Pizza leaders with theirdetailed analysis and suggestions of waysto boost sales in stores located in low-density areas.

The Domino’s Pizza experiencedemonstrates what Dean Robert J. Dolanheralds as a benefit of action-based learn-ing programs such as MAP: Studentsmove from gathering facts to makingsense of a situation, developing a team,analyzing data and finding the solutionto a defined problem. “Encountering andresolving unexpected difficulties preparestudents for when projects blow up onthat first job after graduation,” Dolan says.

For Domino’s Pizza MAP team mem-bers Amy Eger and Gregory LaFiura,both MBA ’05, MAP was a perfect lead-in to summer internships.

“The organizational frameworks welearned during MAP were helpfulbecause my internship assignment wasvery broad. I was responsible for definingthe project scope and an action plan,”says LaFiura, who interned in corporatefinance at Ecolab in St. Paul, Minnesota.

Eger, who worked as a strategy intern with the Carlson Companies inMinneapolis, says, “It helped thatthrough MAP we grew accustomed to


touching base with faculty and liaisonsonce a week for coaching and validationas opposed to receiving day-to-day super-vision. Through MAP we learned tomanage scope, timelines and deliverables.Finally, meeting as many key people inthe organization as possible in a shortamount of time and leveraging that net-work for information and support provedcrucial to success in the MAP project andour internships.”

With MAP—one of the ways Michiganinnovates in business education—facultyalso are learners, says Damian Beil, assis-tant professor of operations management,who is in his second year teaching atMichigan. “MAP exposed me to fieldssuch as marketing and organizationalbehavior that are outside my discipline.This will help me in teaching and research,leading to ideas I might not otherwisehave thought about.”

Faculty members work together insmall teams of three or four to adviseeach MAP team. “Our MAP lunch meet-ings were on-the-job training,” says Beil,who adds, “The challenge of action-basedlearning is to coach and not take over.With a good team, a faculty memberserves as a coach. We’re not problemsolvers. We do suggest approaches forstudents to think about or try. We raiseflags and ask questions.”

Following the final presentation atDomino’s Pizza headquarters in AnnArbor, CEO David Brandon, who is also aUniversity of Michigan Regent and mem-ber of the Business School Visiting Com-mittee, congratulated the students on theirwork. “I have sat through a lot of presenta-tions where people didn’t talk our lan-guage. It is like you’ve been here a longtime,” Brandon said. “I don’t hand outcompliments lightly. You’ve impressed me.”

Making Connections:

Reaping the Rewards of Networking,Developing the Talentsof Others

Networking pays. Just ask theMultidisciplinary Action Project(MAP) team that tapped faculty

connections with high-profile businessexecutives as part of their research onleadership development strategies forEthicon Endo-Surgery’s financial divi-sion. Ethicon Endo-Surgery, based inCincinnati, develops and marketsadvanced surgical instruments and med-ical devices for minimally invasive andtraditional surgeries.

Thanks to introductions from JaneDutton, the William Russell KellyProfessor of Business Administration,and Noel Tichy, director of the GlobalLeadership Program and professor ofmanagement and organizations, the MAP

team members had the heady experienceof talking about leadership developmentwith Bob Corcoran, vice president of cor-porate citizenship, General Electric, andMichael McGranaghan, vice president ofgroup finance, Johnson & Johnson. Theconversations were a highpoint of whatthe students, Dutton and Daryl Leach,MBA ’03, senior analyst in EthiconEndo-Surgery’s finance division, agreewas an outstanding MAP assignment.

Leach, who put the project proposaltogether and served as Ethicon’s MAPliaison, was confident the students woulddo well. “They pushed the envelope. Theydid a fantastic job dealing with somereally politically charged issues. We’vealready decided to implement more thanhalf of the team’s recommendations.”

Leach was vital to the team, saysMariana Nikolova, MBA ’05, who isinterested in a career in strategy andorganizational development. “He intro-duced us and helped set up interviewswith 35 individuals in the finance divi-sion. He also helped push forward twosurveys.”

Mark Still, MBA ’05, plans to takemore management organization courses,thanks to the MAP experience. “So muchin an organization is more than numbercrunching. The relationships with peopleand how they are managed are impor-tant. Communication problems can be a drag on an organization. We need tounderstand how to develop people.”

Members of the Domino’s Pizza MAP team met with CEO David Brandon in the main lobby ofDomino’s Pizza’s Ann Arbor headquarters prior to their final presentation. Left to right, Daniel Oh,Gregory LaFiura, Weizhu (Simon) Hong, Brandon, faculty adviser Damian Beil, Amy Eger, Jae Jangand Marcello DeZagottis stand in front of a 1960 Volkswagen Beetle, the first delivery vehicle usedby Domino’s when Thomas and Jim Monaghan opened their first pizza store in 1960.

Left to right, Daryl Leach from Ethicon Endo-Surgery and faculty adviser Jane Dutton workedwith MAP team members Mark Still, Terri Lewis,Shinya Momose and Mariana Nikolova.

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Earning Trust:

Sharing Information,Leadership with Others

When GE Wind Energy commit-ted to sponsor a Multidisciplin-ary Action Project (MAP) team,

it took a risk, acknowledges MarkTholke, MBA and MS ’03, who served as the firm’s liaison with MBA studentsfrom the Michigan Business School.

“By all accounts, it was a good deci-sion. When the students made their four-hour presentation to senior management,the reaction was very favorable,” addsTholke, commercial analyst, CommercialOperations, GE Wind Energy. The firm, one of the world’s leading windenergy companies, designs and produceswind turbines ranging from 1.5 to 3.6megawatts.

Michigan’s six-member MAP teamexperienced wind’s power firsthand at

the GE Wind Energy site in Tehachapi, a small town northwest of Los Angeles.The team worked on two assignments:

� Exploring market drivers for long-term contractual service agreements

� Creating a turnkey model for smallprojects of one to 10 wind turbines

“Some of the team’s conclusions weresurprising,” says Tholke, “but the stu-dents anticipated the questions and confi-dently defended their recommendations.”

Two team members, Ruth Scotti andHeather Milcarek, both MBA ’05, con-ducted market research at the AmericanWind Energy Association Conference in Chicago. The team also relied heavilyon GE for data, notes Sze Wan (Winnie)Ho, MBA ’05.

“One of the biggest challenges whensponsoring a MAP team is ensuring thatteam members have access to the rightdecision makers inside the company,”says Tholke, who counts his MAP teamexperience and serving as co-president ofMichigan Net Impact among the high-lights of his Business School education.Net Impact is a network of business lead-ers committed to responsible businessmodels, policies and practices.

“We received incredible support fromGE. We’d say we needed something andthey would meet with us the next day.Mark was an advocate for sure,” addsScotti, who returned to GE Wind Energyfor a summer internship.

Scotti and Jonathan Forrester, MBA’05, are enrolled in the three-year Corpo-rate and Environmental ManagementProgram (CEMP), the program fromwhich Tholke graduated. CEMP is partof the Erb Environmental ManagementInstitute, jointly administered by the Busi-ness School and the School of NaturalResources and Environment.

For Forrester, the GE Wind Energyproject was a perfect alignment of envi-ronment and business. “I also wasimpressed that MAP allowed us to inte-grate what we learned in the core. Wedrew from marketing, finance and opera-tions coursework,” Forrester adds.

Kejing (Anthony) Ying, MBA ’05,found the school’s Excel class helpful forthe cost modeling part of the MAPassignment. Ying, who is from Shanghai,says, “MAP is very meaningful for inter-national students. Through the interactionwith American peers, I improved mycommunication skills and understandingof American culture. I even was able to

address a few life issues such as learningto park a car after getting my first dri-ver’s license.”

Team members rotated leadershiproles and relied on faculty for feedback,financial models, assistance constructingmarketing surveys and help in managingthe project’s scope.

“We tried to limit the level of detailand focus. We could have spent a year onthe project,” Milcarek says.

Building Loyalty:

Treating People (and Pets) Well Pays

Iams and Eukanuba customers arewild about their four-legged familymembers, and employees who work

for the Iams Company are just as zealousabout providing world-class quality foodsand pet products. Their passion is conta-gious, report members of the BusinessSchool’s Iams Multidisciplinary ActionProject (MAP) team, who worked longerhours than many consultants and loved it.

The Iams project was “true marketingbecause you are selling a product to peo-ple who will never use it” since the ulti-mate consumer is the dog or the cat,explains Daniel Tretola, MBA ’05, one oftwo team members interested in goinginto brand management after graduation.Iams, located in Dayton, Ohio, is part ofProcter & Gamble’s Health Care GlobalBusiness Area.

Beginning with a tour of the IamsLewisburg, Ohio, production facility, stu-dents followed a week-by-week timelinedeveloped jointly by the students and

Left to right, back row, GE Wind Energy MAPteam members Jonathan Forrester, Kejing(Anthony) Ying, Susana Saja, Ruth Scotti,MAP liaison Mark Tholke; front row, HeatherMilcarek and Sze Wan (Winnie) Ho at the GEWind Energy site in Tehachapi, California.

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Left to right, Iams MAP team members RyanMitton, Matthew Matros, Ryan Elvers, DanielTretola, Jae Ahn and David Ragones at theIams Lewisburg, Ohio, production facility.

PHOTO COURTESY OF THE IAMS MAP TEAM


Michael G. Stanis, Iams finance groupmanager and liaison to the MAP team.“The tour was really valuable because youcan see why Iams is a better product,”says Tretola. “You learn how they makekibble and see how clean the plants are.”

At the onset, team members spent fourdays in meetings with key people, includ-ing senior management, to make surethere was an alignment with their projectand all levels of the company from assistantbrand managers and brand managers toPresident Jeffrey Ansell.

“We were treated like employees.They treated us really well. As a result,we worked harder. It was like a cyclefeeding on itself,” explains Tretola, whonow buys Iams for his dog Meadow, arottweiler/Labrador retriever mix.

The schedule was intense: The teamworked from 8 a.m. to midnight Mondaythrough Thursday in Dayton, returned toAnn Arbor late Thursday night, metwith faculty advisers on Friday andworked weekends on the project. Theyalso traveled across the United States tomeet Iams employees in the field andobserve how consumers make pet foodpurchase decisions.

It was worth the effort, says MatthewMatros, MBA ’05, who describes MAP as“a differentiating experience,” noting thatit acts as a capstone, incorporating allfirst-year MBA coursework, particularlyfinance, organizational behavior andmarketing. “I think it gives Michiganstudents a leg up on other business schoolgrads,” Matros says.

“For us, it was a great opportunity tointeract with faculty,” says Stanis. “Pro-fessor Michel Wedel came to Iams to talkabout MAP. We kept in touch throughoutthe process. We had excellent communi-cation among students, faculty and Iams.”

The MAP students were professional,respectful to people in the organizationand not afraid to challenge the statusquo, says Stanis. “They were upfront and honest and identified 30 opportunitiesto increase business. Senior managementdecided to devote resources to implementsix big ones. Some of our account execu-tives already are using their materials onsales calls, and customers like it.”

“The MAP team members uncoveredterrific insights in their work,” says Ansell.“They came forward with a set of recom-mendations that highlighted for me thevalue of having a fresh, inspired grouptackle an important area. We will cer-tainly implement several of their recom-

mendations, making this a worthwhileexperience for all.”

MAP, Stanis says, “is an opportunityfor students to be exposed to a real-lifebusiness experience and immerse them-selves in the corporate culture of ourcompany. We would definitely be open to doing it again.” Stanis, who earned anMBA from Duke University, has workedfor Procter & Gamble for 12 years.

“Our team was fortunate to work with an industry leader,” says Tretola.

Achieving the Double Bottom Line:

Making a Differenceand a Profit

The San Francisco-based nonprofitJuma Ventures, which helps youthfrom low-income communities

make the successful transition from highschool to college and careers by providingemployment and other youth develop-ment services, would like to make a transition of its own—to profitability.

Each year, Juma employs more than200 youths from low-income backgroundsin the six businesses it owns: Three Ben & Jerry’s stores, two concession businessesat Candlestick (San Francisco 49ers) andSBC (San Francisco Giants) parks, and a tourist lodge near Yosemite NationalPark. Until now, income from the busi-nesses has not fully covered the businessand program expenses; the nonprofitrelies on grants and donors to make upthe $1.5 million shortfall in its annual$3.5 million budget.

When Juma’s leaders were looking fornew, more profitable business models,they turned to the Business School’sMultidisciplinary Action Project (MAP)

program for creative solutions. Juma MAP team member Michael E.

Schostak, MBA ’05, says, “For youngpeople, working at Ben & Jerry’s and theballpark is cool. Juma’s challenge is tocreate businesses that are trendy, cool andfun for employees and make money, or atleast cover their costs.”

With an eye for profitability, socialmission, feasibility and brand equity,Schostak, who worked as a consultant for Booz Allen Hamilton Inc. beforeenrolling at Michigan, and his teammatesexamined dozens of options in the foodservice, retail, distribution, service andmanufacturing areas before narrowingtheir recommendations to three: JumaVending Service (vending machines),Juma Gifts (gift baskets) and JumaThreads (clothing resale shop). All areeasily scalable and would develop thebrand, Toria Crichlow, MBA ’05, toldJuma Executive Director Jim Schorr atthe team’s final presentation. The MAPTeam also recommended that Juma closetwo of its ice cream shops, which lostmore than $70,000 in 2003.

Crichlow, who served as a consultantto nonprofits before coming to theBusiness School, says working with Jumahelped her achieve a personal goal: tolearn more about the “double bottom-

Left to right, Rina Horiuchi, faculty adviser Sudheer Gupta, Jonathan Windham, Michael Schostak,Nancy Poderycki, Juma Ventures Executive Director Jim Schorr and Toria Crichlow celebrate theconclusion of a successful MAP project in the Business School Board Room.

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This colorful mural, one of many that brightenJuma Ventures’ walls, was painted by youth in 2003 in honor of the nonprofit’s 10thanniversary.


T H E M I C H I G A N D I F F E R E N C E

line” business model that includes achiev-ing a social mission and being profitable.“I’m a big believer in applying what Ilearn. MAP provided a framework forimplementing what we’ve learned. I neverthought the managerial accounting classwould apply, but it did,” Crichlow says.

Jonathan Windham, MBA ’05, says hewanted to be a member of the JumaMAP team “because I have had no expo-sure to social enterprise. I learned it takeseven more skill than running an ordinarybusiness.” Windham worked in equityresearch prior to returning to school.

The different skills and work experi-ence the MAP team members brought tothe table influenced their research processand final product, says Nancy Poderycki,MBA ’05. “Some came with a strong

finance background; others brought proj-ect management experience. Jon, forexample, is the Excel whiz, and Rina[Rina Horiuchi, MBA ’05] adds style andpizzazz to our work products. Theprocess really couldn’t have worked with-out each team member. Also, we wantedto educate each other. We went out ofour way to bring up opportunities to helpeach other learn.” Both Poderycki andHoriuchi have spent time working innonprofits.

Although Juma had used MBA stu-dents from other business schools as con-

sultants in the past,“2004 was the firsttime Juma workedwith a MichiganMAP team. Wereally wanted toshow the value ofMichigan MBAs. Itwas a way to proveourselves and show-case our school,”Horiuchi adds.

Schorr, wholearned about theMAP program fromJuma board memberDina DenhamSmith, MBA ’98,says, “The MAPproject went excep-tionally well. I wastruly blown awayby the quality of the work. We received agenuine portfolio strategy for our collec-tive set of businesses—something weknew we needed to consider. It was niceto have objective confirmation of whatwe need to do. The final presentationwas extremely well done.

“The Michigan MAP project is by farthe most valuable one I’ve been involvedin. MAP is structured so students arefully dedicated to the project rather than fitting it in with other classes. Thislends itself to a better product,” Schorr, a Northwestern University KelloggSchool of Management MBA, adds.

Balancing Inquiry with Advocacy:

Human DynamicsMatter

Michelle Ryan, MBA ’93, was astudent when the MichiganBusiness School piloted Multi-

disciplinary Action Projects (MAP).“Unfortunately I wasn’t in one of the

sections in which it was offered,” saysRyan, vice president of marketing for haircare products at Matrix, a division ofL’Oréal, who served as liaison to Michigan’sMatrix MAP team this spring.

“The team gave us new ways to look atmarketing our brands and to get in touchwith the pulse from a consumer stand-point,” Ryan says. “They talked to a hugenumber of stylists and did quantitativeresearch with stylists and focus groups

Left to right, Michelle Ryan, MBA ’93, of Matrix and MAP team membersBenno Marbach, Danielle Shea, Mustafa Guner, Shalaka Tamhane, WilliamLink, Christina Yen and faculty adviser Gretchen Spreitzer met at Matrix’sheadquarters in New York City for the team’s final presentation.Juma Ventures MAP team members exam-

ined other social enterprise models, includ-ing bicycle sales and repair servicesoffered by Golden Gate Community Inc.

LORRAINE PANTIC

with consumers. We do this frequentlybut sometimes it is hard to get more gen-eral feedback from consumers and acompetitive standpoint.

“The students gave us an objectiveview of what competitors are doing andexamples of what brands in other areasare doing to remake themselves,”explains Ryan, who met with GaleAmyx, managing director of MAP, whenshe invited Matrix to submit a projectproposal for consideration.

“I wanted to support the University. Itis a great opportunity for students to gainexperience and for us to get a fresh perspec-tive on some real-life projects we’ve beenworking on,” Ryan says. The team keptin touch with Ryan and others at Matrixthrough trips to the firm’s New York Cityheadquarters and weekly conference calls.

“We felt we had a high profile withinMatrix,” says Danielle Shea, MBA ’05.“We met with leaders in marketingresearch and distribution and went onsales calls. The biggest challenges wereinformation overload and conflicting datafrom stylists and consumers.”

The group also worked on teamdynamics and communication skills.Shalaka Tamhane, MBA ’05, says, “Wewere all pretty direct in our communica-tions on our peer evaluation forms anddidn’t take comments personally.”

“It also was an opportunity to practicewhat we learned in organizational behav-ior about balancing inquiry and advocacy,”says teammate Christina Yen, MBA ’05.“Advocacy is pushing your idea. Inquiryis understanding the other person’s input.”


Jennifer Hollingsworth earnedher MBA from the University of Michigan Business School in

2002, just months after the September11 terrorist attacks. The tragedy ledto an economic downturn that meantmany companies were not hiring attheir usual levels. But it did some-thing more, as well. For Hollings-worth and others, the attacks caused

a subtleshift in priorities,inspiringthem toreevaluatetheir lives.

“I reflect-ed,” shesays. “I didn’t go to BusinessSchool toget a job I didn’twant or toget a job I had before.I love enter-

tainment and movies— the broad-appeal things that everyone enjoysbut not everyone gets to work on. I had to try it.”

Soon after, Hollingsworth embarkedon a path that she thought fewMichigan Business School alumniattempt—the search for the elusivesuccess of the American entertain-ment industry. Along the way, how-

ever, she discovered what few fellowgrads —including some in the biz—actually know: the existence of manyothers like her, who risked stabilityand certainty to land jobs they love,and who’ve become a sizable andinfluential corps of Business Schoolgrads in the entertainment field,holding positions in everything fromfinance to creative development.

After packing up her truck,Hollingsworth drove to Los Angeleswithout a place to live or knowing thecity and with no personal contacts—except one. Through a Los Angelesforum organized by the school’sEntertainment, Media and SportsClub, she had met Victor Elizalde,director of business development at Columbia TriStar Motion PictureGroup, a division of Sony, and aMichigan alumnus with a master’s in applied economics. Elizalde hiredHollingsworth for a competitiveinternship—that paid only $12 anhour. “It was hard to hear that,” shesays. “But I knew I had to do this. Igenerally hedge my bets by keeping

other more practical options open butnot taking big risks. I had fought thatbattle my whole life, and I finally won.”

“I think the Michigan student trulyis a unique student,” says Elizalde,who is also running for one ofCalifornia’s seats in the U.S. House of Representatives. “They have theabsolute raw quantitative skill—andthey know how to use this for a qual-itative reason. Let’s say you have $100million to make a movie; what movieare you going to make?

“You can take a cultural look atsomething, but you also have to beable to analyze the quantitativeside—what if it fails, what is therisk? Michigan students can do that.”

For months, Hollingsworth livedout of a low-rent apartment whereshe didn’t even have a bed. But thesacrifice paid off. Today, she is amanager of business development forColumbia TriStar Home Entertain-ment, where she works on elaboratemodels to determine the profitabilityof potential films—and thus helpingdecide which projects ultimately get “green-lit,” or the go-ahead forproduction. She is also active in theUniversity of Michigan Entertain-ment Coalition (UMEC), a group resurrected by another BusinessSchool alumnus, Dominic Cianciolo,BBA ’91, to enable better networkingand develop brand recognition for the Michigan name in the entertain-ment field.


Jennifer Hollingsworth,MBA ’02, is manager ofbusiness development forColumbia TriStar HomeEntertainment.

Michigan Alumni Shine in Star-Studded Industry“I didn’t go to Business School to get

a job I didn’t want or to get a job I

had before. I love entertainment and

movies—the broad-appeal things

that everyone enjoys but not every-

one gets to work on. I had to try it.”

� � �


The group’s treasurer is another Busi-ness School alumnus, Paul Wycoff, BBA’86, who has a background in film financeand is currently an independent producer.The group’s communications chair,Christopher Derrick, BBA ’93, writes,directs and produces independent films.

“We have a lot of people out here,way more than I realized,” saysCianciolo, an independent filmmakerwho has produced several short films,commercials and music videos. “It wasjust a matter of looking under the rightrocks and finding the right people.”

Since Cianciolo revived UMEC inApril 2003, it has blossomed into animpressive organization, with 110 mem-bers in Los Angeles and hundreds moreon the New York and general e-maillists. UMEC sponsors a wide range of

activities, including a mentorship pro-gram, regular forums and networkingopportunities.

UMEC works closely with anotherMichigan organization, the BusinessSchool’s Entertainment, Media and SportsClub. Along with bringing speakers toAnn Arbor to talk about the entertain-ment business, the club also organizes

annual trips to New York and LosAngeles for students to meet with alum-ni and business professionals in the field.Typically, about 30 students —BBAs,MBAs and Master’s in Accounting —and prospective students attend theforums, in addition to more than 100alumni.

“The thing I’ve found really amazingis the enthusiasm Michigan alumni havefor helping people,” says club presidentColleen Newvine, MBA ’05, a formernewspaper reporter who is an informa-tion officer at the University’s News and Information Services. “When I askMichigan alumni to do something forcurrent students, they almost can’t doenough. There’s a real passion for thiscommunity.”

While UMEC and the club hold agreat deal of promise for the future,Michigan Business School alumni havehad a long and impressive impact on the entertainment industry. Perhaps themost recognizable name in the fieldtoday is Robert Shaye, BBA ’60, founderand co-chairman and co-CEO of NewLine Cinema, which produced theimmensely popular The Lord of the Ringstrilogy, the third installment of whichrecently garnered a record-tying 11Academy Awards, not to mention netrevenues of more than $1 billion world-

wide. Morethan 40 yearsafter earninghis degree,Shaye stillcredits theBusinessSchool withhelping himdevelop theskills to turnNew Lineinto the suc-cess it is today. He’s thankful for oneclass in particular.

“I’m still grateful to my accountingprofessor,” he says. “That first courseserved me so well. In general, theBusiness School offers valuable tools forsomeone who wants to shape their ownprofessional lives. These are lessons onedoesn’t forget whether one is in enter-tainment or real estate. I was very gladto have the kind of grounding thathelped in starting a company.”

The Business School also has alumniin key positions in other premier enter-tainment companies such as Home BoxOffice (HBO), Disney and Warner, toname a few.

Robert Roth, MBA ’79, is executivevice president and CFO of HBO, thepremier cable television network respon-sible for hit series such as The Sopranos,Sex in the City and Curb Your Enthusiasm.Roth’s story is different in that he didn’tstart out with the intention of gettinginvolved in entertainment. He was work-ing as an accountant at Arthur Young & Company in 1981 when he received a call from a young, upstart companylooking for someone with a strongaccounting and business background.

“I literally said, ‘What’s HBO?’” Rothrecalls. He decided to take a gamblewith the company, and the gamble paidoff. He moved up the ranks quickly and

� � �

“You can take a cultural look at some-

thing, but you also have to be able to

analyze the quantitative side —what

if it fails? What is the risk? Michigan

students can do that.”

� � �

� � �

“The thing I’ve found really amazing is the

enthusiasm Michigan alumni have for

helping people. When I ask Michigan

alumni to do something for current students,

they almost can’t do enough. There’s a

real passion for this community.”

� � �

HBO Executive Robert Roth,MBA ’79, enjoys being partof a creative team.

Robert Shaye,BBA ’60, is co-chairmanand co-CEO of New LineCinema, whichproduced TheLord of theRings trilogy.

today is one of HBO’s top executives.“If you told me before I started I’d be

here for 22 years, I wouldn’t believe it,”he says. “I really enjoy being part of acreative team in making decisions aboutHBO’s future. You spend a lot of timeon something, pulling out your hair, tak-ing it for granted—until you hear whateveryone else is doing, and that whatyou’re doing is something that most peo-ple would tear off their right arm for.”

At Disney, Mark Silverman, MBA ’91, is general manager and senior vice presi-dent of the ABC Family Channel, a position he reached after several years inentertainment. Silverman’s job is multi-purposed, involving everything fromdeveloping and buying programming to developing advertising and improvingviewership. In the eight months since he’s

been there, Silverman reports that ratingsfor the channel are up 50 percent.

“Seeing the results of your work andwatching that as you make changes isvery satisfying,” he says. “At the begin-ning, my Michigan education was veryhelpful to gaining entrée in certain posi-tions because of the name recognition. It also gave me a lot of experience infinance and marketing, which was veryhelpful.”

Silverman has passed along the bene-

fits of his success to other BusinessSchool alumni, as well. He recently met with the Entertainment, Media and Sports Club during its trip to LosAngeles. In the past, he also has helpedalumni like Alan Guño, BBA ’93, gettheir proverbial foot in the door. Guño is director of finance at Buena VistaPictures Distribution and Marketing, adivision of the Walt Disney Company.He is also pursuing a career as a pop musicsinger, with one CD out already. Guño,who has a large, framed poster of theBackstreet Boys hanging in his office,emphasizes that he found work at Disney

after following up with Silverman persistently.

“Now I get a lot of calls from peoplewho want to do things,” Guño says. “I feel like I’m passing on the torch.Michigan grads are typically strong,independent, good thinkers, and I’mproud to be part of that tradition.”

Guño also met with the club, a groupthat Stephanie Atlas, BBA ’98, helpedjumpstart while she was a student. Aftershe graduated, Atlas spent three yearsworking at American Express beforemoving west. Now she’s marketingmanager of theatrical new releases forWarner Home Video.

“I never wanted to market diapers,” shesays. “I knew I wanted to be involved inentertainment. Networking is the number-one reason I am where I am today.”

But like Shaye, other alumni havedecided to combine their entertainmentdreams with the entrepreneurial resourcesthey honed at the Business School, start-ing their own production and distribu-tion companies.

In additionto being pres-ident of theNew Yorkchapter ofUMEC, lastyear CandaceTenBrink,MBA ’97,founded AltosEntertain-ment, a pro-duction com-pany devotedto makingfilms with strong female lead characters.She and her partner, Richard Guay, arecurrently raising $6 million to fund fivefilms they’ve selected for their first crop.TenBrink, an energetic and multi-talentedwoman, has an extensive resume as anactress and a businesswoman. She hasacted in several films and plays and alsowas named “Best on the Street” by TheWall Street Journal in 2001 for earningsforecasts.

Altos and UMEC give her the oppor-tunity to put all her skills to work. “I wasacting, but I really missed the businessside,” TenBrink says. “I began thinkingabout how to mix my business skills withmy talent. The company has been somuch fun, so crazy, but I love network-ing and doing things myself. I’ve beenvery lucky, but you have to be preparedfor luck. How can you raise $6 millionwithout a business background?”

Dave “Disco Dave” Shayman, BBA’02, got his start as an urban dance hallDJ and is now a founding partner of

“At the beginning, my Michigan

education was very helpful in gaining

entrée to certain positions because of the

name recognition. It also gave me a lot

of experience in finance and marketing,

which was very helpful.”

� � �

Candace TenBrink, MBA ’97,combines business and actingskills in Altos Entertainment,a production company that makes films with strongfemale lead characters.

Dave Shayman, BBA ’02, a founding partner ofthe Triple Crown music label, also has releasedhis first CD.

Alan Guño, BBA ’93, who works in financeat Disney, also is pursuing a pop music career.

Stephanie Atlas, BBA ’98, who was responsi-ble for the U.S. video marketing of The LastSamurai, is working on the video marketingcampaign for Troy.



this businessoperates, youhave to learnit by being inthe business.Someonecoming outof BusinessSchool todayhas to bewilling totake thatentry-levelposition.”

For all ofthem, though,the sacrificewas worth it.“It’s hard toleave thatcomfort zone,” says Hollingsworth. “Butin the end you know you got the job youtruly wanted.”

Christopher Farah

an up-and-coming music label in NewYork called Triple Crown. He also hascontributed music to several commer-cials and network television promotionsthrough his connection to ExpansionTeam, a marketing collective.

“My business background gave me a level of credibility going into otherventures,” says Shayman, who releasedhis first CD, A Night at the Booty Bar,last year. “People know I know what I’m talking about.”

With assistance from an $8,000 grantfrom the Samuel Zell and Robert H.Lurie Institute for EntrepreneurialStudies’ Dare to Dream Program for

entrepreneurs at the Business School,Tom Anstead, MBA ’04, got his start inthe entertainment business before hegraduated. Anstead founded LightkeeperFilms, which transfers the films of inde-pendent filmmakers to DVDs and dis-tributes them on demand. Anstead alsoholds an MFA from Boston Universityin film production.

“After making my own film when Iwas in film school, I found there werelimited opportunities to get my film outto a general audience,” he says. “Thereare thousands of independent films beingmade every year and most filmmakerscannot get their films distributed. I seethe key to developing a successful busi-ness in film or entertainment as one thatinvolves new ways to do business.”

Like Anstead, not everyone who hasdedicated part of their lives to entertain-ment lives on one of the coasts. There is alsoa strong alumni contingent in Chicago.

With clients ranging from producersto screenwriters to actors in film, televi-sion and theater, Chicago-based lawyerDavid Saltiel, BBA ’75, was ranked byChambers USA as one of the top enter-tainment lawyers in the nation. At first,when he told people he wanted to be anentertainment lawyer in the Midwest,they laughed at him, saying it was onlypossible in Los Angeles or New York.

“I said, ‘I’ll show you, I’ll go homeand do it from Chicago,’” Saltiel says. “I made the right decision. Chicago is

an open and kind city. There’s none ofthe cutthroat behavior you see in otherplaces. People help each other.”

Saltiel, an attorney with Bell, Boyd &Lloyd, got his start the hard way—byproviding legal advice for free to talentedclients who, like him, were getting startedin entertainment. As his clients blossomed,so did his practice.

Kathryn Montgomery Moran, BBA’81, is a partner in the Chicago law firmof Lord, Bissell & Brook, but in her sparetime serves on the board of directors atthe renowned Steppenwolf TheatreCompany, which features actors likeJohn Malkovich, John Mahoney andLaurie Metcalf. Like Saltiel, Moranbecame involved with Steppenwolf inthe late 1980s when it was housed in amuch smaller facility. Today, she usesher business skills to help direct develop-ment and fundraising.

What kind of advice do these success-ful alumni have for all those who aspireto succeed in the competitive field ofentertainment? One mantra was repeatedby virtually everyone in the business: Be positive, be persistent and be preparedto make big sacrifices—especially in thebeginning. Getting your foot in the dooris crucial.

“If somebody comes in thinkingthey’re going to be hobnobbing withJames Gandolfini (of The Sopranos),they’re going to be disappointed.” Rothsays. “Do you want to be here becauseyou think it’s sexy, or because it matchesyour skill set? I get people who say tome, ‘I’d really love to be at HBO — whatopportunities do you have at the VPlevel?’ If you’re expecting to come in atthat kind of level, that’s not going tohappen. If you want to understand how

� � �

“Michigan grads are typically strong,

independent, good thinkers, and I’m

proud to be part of that tradition.”

� � �

David Saltiel, BBA ’75, was ranked byChambers USA as one of the top enter-tainment lawyers in the nation.

Kathryn Montgomery Moran,BBA ’81, a partner in the lawfirm of Lord, Bissell & Brook,serves on the board of directorsof the Steppenwolf TheatreCompany.

EntertainmentCoalition HostsFilm Festival

The University of MichiganEntertainment Coalition’s(UMEC) first film festival,

sponsored by Jet Blue and Red Bull inJune, featured eight films by Universityof Michigan grads.

The UMEC draws on the expertise of high-profile entertainment industryprofessionals who serve on the advi-sory board, including Michigan alumniPeter Benedek, partner of UnitedTalent Agency; Hal Cooper, directorand producer of network-televisionsituation comedies such as Maude, Allin the Family, The Brady Bunch and IDream of Jeannie; Lawrence Kasdan,film writer, director and producer,whose films include Raiders of theLost Ark, The Empire Strikes Back,The Big Chill and Silverado, as well asEndeavor founder Rick Rosen.

For more information about UMEC, visitwww.uofmentertainmentcoalition.org.

Former astronaut Donald McMonagle,Arkansas Arts Center DirectorNan Plummer and Landmine

Survivors Network Executive DirectorJerry White are senior-level executives,respected in their fields. High-flying professionals, the three also were, untilrecently, self-described “business illiterates.”

When McMonagle, MBA ’03, left government service after 25 years to joinaircraft engine manufacturer Pratt &Whitney, the former NASA space shuttlecommander says, “I realized the languageused in business included terms withwhich I was unfamiliar.”

Plummer, MBA ’03, who holds threedegrees in history of art, including a PhDfrom the University of Michigan, isresponsible for the art center’s $4 millionbudget, 35 percent of which is raisedthrough retail sales, facility rental, classesand ticket sales for a children’s theater.She learned, while working on her MBA,that “even if the medium is numerical,

it’s really allabout humanbehavior.”

White,MBA ’05, aland minesurvivor andleader in theinternationalcampaign toban landmines, says,“I’m a non-profit guywith a reli-gious studiesbackground.

I took microeconomics but never had afinance or accounting class in my life.”

Today, McMonagle, Plummer andtheir classmates are “business literacy”masters, having completed the MichiganBusiness School’s 20-month ExecutiveMBA program. In a commencementspeech to the first Executive MBA class,

McMonagle said, “We have sought andachieved a deeper understanding of thebusiness environment than calculationsand bottom lines—an understanding ofthe spectrum of elements that supportsustained success, an understanding thatwill serve us well when we are seated atthe boardroom table. We are now collec-tively aiming to achieve new heights, tofly higher in the realm of business thanwe originally envisioned.”

The Executive MBA program, launchedin fall 2001 and ranked seventh by U.S.News & World Report magazine in 2004,attracts more seasoned business executivesas well. It prepares mid-career profes-sionals from diverse backgrounds—finance, law, manufacturing and market-ing, to name a few—to lead and createvalue in their organizations.

Plummer chose to pursue an MBA“because I knew it would give me per-ceived and actual advantages” to makethe leap from educational programmingto director of an art museum even thoughmost directors come from a curatorialbackground. “My dream job was sup-posed to come after the MBA, not in themiddle,” quips Plummer, who was headof education at the Toledo Museum of

Art in 2002 when she was tapped to jointhe Arkansas Arts Center.

McMonagle, a retired U.S. Air Forcecolonel who served as spacecraft commu-nicator on NASA’s Mission Control Team,says having an MBA “has helped me com-municate more effectively with the CFOand our legal department. I also have agreater appreciation of the roles financeand legal departments play in industry.”

Michigan’s Executive MBA program, anewcomer in a competitive market, is meet-ing its enrollment goals despite a stalledeconomy and the September 11, 2001, terrorist attacks, notes Executive MBAProgramDirectorDavid Ardis,MBA ’92. He attributessuccess toinnovativefaculty; a rig-orous cross-disciplinarycurriculum;an academicschedule thatallows stu-dents to bal-


Executive MBA:A Fast Track to Business Literacyfor Busy Senior Executives

Arkansas Arts Center Director Nan Plummer, MBA ’03, is responsible for a $4 million budget.

Jerry White, MBA ’05

Donald McMonagle, MBA ’03

D.C

. G

OIN

GS


more strategic perspective since it pre-pares executives for higher levels of lead-ership. “We aren’t teaching participantsto be CPAs. We do make sure theyunderstand how to read annual reportsand can identify when organizations arenot operating at the most efficient levels,”Ardis explains.

The program’s focus on practicalapplication and working across disci-plines earns high marks. White says,“Almost every class calls for applyingwhat is taught, real time. Faculty use alayered approach to applying the tools.Business faculty do an excellent jobweaving classes together.”

The curriculum mirrors the realworld. “Businesses don’t function insilos,” Ashford notes. She cites a second-year capstone course about how to grow a company taught by M.P. Narayanan,professor of finance, and Aneel Karnani,associate professor of corporate strategyand international business, as an exampleof Michigan’s cross-disciplinary approach.

Michigan’s Executive MBA differsfrom competitors in other ways:

� Students pursue a professional devel-opment track in addition to regular

course work. Working with faculty,they create professional developmentplans based on feedback from co-workers and other professionals. Aspart of the professional developmenttrack, nationally recognized businessleaders such as Arthur Levitt, formerchairman of the U.S. Securities andExchange Commission, and high-levelexecutives from companies such asMotorola Inc., Borders Group Inc., Domino’s Pizza and EatonCorporation meet with students.

� Customized skills workshops aredesigned based on students’ profes-sional development plans. Topicsrange from managing senior staff toworking with corporate boards andhandling media during times of crisis.

� All Executive MBA students partici-pate in an Executive MultidisciplinaryAction Project (ExecMAP), a team-oriented learning situation that con-nects theory and practice and developsleadership skills. MAP, a linchpin ofthe school’s positioning strategy, dif-ferentiates Michigan’s MBA programand is one of the school’s signatureaction-based learning programs.

ABOVE (top) John O. Renken, MBA ’04, and classmates. ABOVE (bottom) M.P. Narayanan, professor offinance and winner of the 2004 Executive MBA Teaching Excellence Award

PHOTOS STEVE KUZMA

ance work, school and family; the BusinessSchool’s overall top-10 ranking; and theschool’s outstanding reputation for non-degree executive education offerings.

Unlike other executive MBA programsthat require students to spend two week-ends per month on campus, Michigan’sExecutive MBAs attend a 10-day residencyin August of their first and second yearsand return to Ann Arbor for once-a-month,all-day Friday and Saturday sessions. In addition, students spend a minimumof 15 hours a week studying faculty-developed material online. Deliveringbasic course content and exams onlineallows faculty to reserve the limited facetime with students for higher-level learn-ing, explains Susan Ashford, academic

director of the Executive MBA program,who also teaches the program’s negotia-tions course. “You can’t learn to negotiatevia CD,” says Ashford, the Michael andSusan Jandernoa Professor of BusinessAdministration. “By using a CD to presentintroductory material, we gain time to workdirectly with students on their skills.”

The once-a-month residency was onereason attorney John O. Renken, MBA’04, head of the Washington, D.C., officeof Miller Canfield Paddock and StonePLC, chose Michigan. The father of twopreschoolers says, “I appreciate Michigan’sreliance on distance learning technology—CD lectures, conference call networkingand e-Room document exchanges. Theprogram allows you to participate in afull MBA curriculum with little collateraldamage to personal and professional life.”Still, Renken adds, he appreciates the sacrifices his wife, family and colleaguesmade so he could balance the demands of husband, father, lawyer and student.

The Executive MBA curriculum coversthe basics—accounting, business law,finance, human resources, marketing andorganizational behavior—but from a

� � �

“I appreciate Michigan’s reliance on

distance learning technology—CD lectures,

conference call networking and e-room

document exchanges. The program

allows you to participate in a full MBA

curriculum with little collateral damage

to personal and professional life.”

� � �

ExecMAP assignments this past sum-mer included:

� Developing a five-year, multi-tieredbusiness plan to position theLandmine Survivors Network toexpand services to more than 500,000survivors through eight to nineregional offices

� Creating a business plan for a start-upproject to buy land and develop con-dominiums in Florida

� Performing a strategic review for hottub manufacturer Emerald SpasCorporation of Kentwood, Michigan,and developing a growth strategy

Entrepreneur John Kennedy, MBA’05, bought the then-bankrupt EmeraldSpa 10 years ago. “We have done verywell since then and have a good, youngmanagement team,” reports Kennedy,who sponsored a second ExecMAP thatworked on a project for his AutocamCorporation, also of Kentwood andHayward, California. The AutocamExecMAP team explored a roll-up strate-gy for the firm’s medical device divisionin California, similar to that which has

contributedto Autocam’ssuccess in theautomotivecomponentsmarket,where thefirm achievedmore than$325 millionin sales in2003.

“In bothcases we hadbusiness issueswe neededsome helpwith to move

the companies forward. With ExecMAP,we had some very smart people doing thelegwork on these projects. It was almostlike free consulting,” says Kennedy, whoenrolled in the Michigan program

because, “I find it is helpful to bring newthinking into the business environment.The class is outstanding in terms of the makeup of the group. The way theMichigan program is set up, you learn as much or more from your peers as youdo from the teacher,” says Kennedy, who would like to teach business at thecollege level.

The Michigan Business School’semphasis on action-based learning differ-entiates it from competitors and opensdoors. “I was familiar with the MichiganMBA program because I had sponsored a MAP team my first year at Pratt &Whitney,” McMonagle says. He workedwith five students “who compiled a greatdeal of valuable information about oursupply chain.” Also, he adds, “I was born

and raised in Flint. Had I not gone to the Air Force Academy, I wanted to go to Michigan. It was an opportunity to get back to my roots.”

Jerry White too had worked withMAP students, through an introductionfrom Landmine Survivors Network patronQueen Noor of Jordan. “We’ve doneMAP projects in El Salvador, Jordan,Bosnia and Washington, D.C.,” saysWhite. “We get free research and are ableto orient these very smart kids to devel-oping countries so they can apply whatthey learn. Americans tend to have a fast, formulaic solution to chronic, deep-rooted, historic conflict-resolution prob-lems. Sometimes, when students tell us if you do this in three months, you cansolve world problems in a year, you wantto roll your eyes. However, MAP’s valueis in provoking debate and thinking asyou plan strategically rather than think-

ing that everything can be boiled down to a PowerPoint presentation. At the end of the day, Bosnia doesn’t respond toPowerPoint.”

John Kelly, MBA ’03, who is managingdirector of line maintenance operationsfor Northwest Airlines at Detroit Metro-politan Airport, is proud of the inventorymanagement project his ExecMAP teamdid for Borders, which received an excel-lent rating from the sponsor and facultyadvisers. Kelly manages day-to-day aircraftmaintenance operations for about 400departures a day at Northwest Airlines’largest hub.

Kelly, who also has a bachelor’s degreein engineering, found MBA courseworkintellectually stimulating, particularly thecourse on supply chain management

taught by Izak Duenyas, associate deanfor faculty development and research and the John Psarouthakis Professor ofManufacturing Management. “I lovedbeing in school. Learning about otherbusinesses has rounded out my backgroundand enabled me to put theory behindwork I had done as a consultant. For me,an engineer, to understand marketingwas a high point.” Kelly and Northwestwere so impressed with the program thatthe airline is sending another employee,Kai Duell, head of international opera-tions at Northwest’s Detroit facility, toMichigan. She started Executive MBAclasses in August.

For more information about the Execu-tive MBA, visit www.emba.bus.umich.edu.

Mary Jo Frank


John Kennedy, MBA ’05PHOTO: D.C. GOINGS

“MAP’s value is in provoking debate and

thinking as you plan strategically rather

than thinking that everything can be boiled

down to a PowerPoint presentation.

At the end of the day, Bosnia doesn’t

respond to PowerPoint.”

� � �

John Kelly, MBA ’03, with a new Airbus in Northwest Airlines’ new hangar at Detroit Metropolitan Airport

ST

EV

E K

UZ

MA


“The trillion dollar nonprofit sector isvery competitive. In the internationalarena, we’re competing over a smallerpiece of the pie with big issues at stake,and battles are tough,” says White,adding, “The organizational principleshave to be applied as rigorously in thenonprofit sector as in business.”

The father of four admits, “I had no freetime before I started the Executive MBAprogram. I would have left in two months if I hadn’t seen an impact.” Instead, thepressure of homework assignments andworking with a team has forced him tofocus. “It’s been an opportunity to increasemy own capacity, to step up to responsi-bility and strike a balance in life. But I’m definitely a less-pleasant person sincestarting business school,” White jokes.

Business training has changed the wayhe thinks, White says. “Half the time I am listening to the lecture and jottingdown notes that apply to LSN. When theprofessor is discussing flow analysis forfactories, I am thinking what is the flowanalysis for turning a growing number of mine victims into true survivors andactive citizens? Instead of thinking aboutshareholder value, I have to ask who aremy stakeholders and how do I market tothem? I am mastering information I havenever studied before and trying to trans-late it immediately to the nonprofit sector.”

Michigan is helping him build a globalsocial change movement, White says. “To partner with Michigan is a gift to my organization. I’m delighted to havethis partnership. It is helping me to be abetter CEO and will help LSN have abigger impact on the world. I have a deepgratitude for this.”

To learn more about the LSN, visithttp://www.landminesurvivors.org/.

Partnership with Michigan Is Helping Me Be a Better CEO

� � �

The father of four admits, “I had no free

time before I started the Executive MBA

program. I would have left in two months if

I hadn’t seen an impact.” Instead, the pres-

sure of homework assignments and work-

ing with a team has forced him to focus.

TOP LEFT (Left to right) Executive MBA studentsPatrick Dempsey, Ken Davis, Jackie Slaga,Jerry White and Mitch Henderson discuss thisyear’s Landmine Survivors Network (LSN)ExecMAP project: a five-year, multi-tieredstrategic plan to position LSN for socialinvestors. Not pictured is LSN ExecMAP teammember Steve Tuzik. PHOTO: D.C. GOINGS

TOP RIGHT Jerry White meets with JordanianRoyal Corps of Engineers before final stockpiledestruction in April 2003.

PHOTO: LANDMINE SURVIVORS NETWORK

BELOW Jerry White shows his prosthesis toEthiopian children.

PHOTO: LANDMINE SURVIVORS NETWORK

Jerry White:he value of the Executive MBAprogram is not in the laboratory,formulas or tools in themselves,

but it is a great place to think throughthese things,” says Jerry White, MBA ’05,executive director of Landmine SurvivorsNetwork (LSN), an organization thatempowers individuals and communitiesaffected by land mines to recover fromtrauma, reclaim their lives and fulfilltheir rights. LSN was a leader in theInternational Campaign to Ban Landmines,which won the 1997 Nobel Peace Prize.

White was a junior at Brown Universitywhen he stepped on a Russian-mademine on a camping trip in Israel in 1984.The unmarked minefield had been laidduring the 1967 Arab-Israeli war. Landmines kill or maim some 26,000 peopleper year, mostly civilians, notes White.Every 22 minutes a person is killed orinjured by a land mine.

After graduation, White, who majoredin Judaic Studies and international relations,worked 10 years as a nonproliferationanalyst, tracking the spread of nuclear,biological and chemical weapons for theWisconsin Project on Nuclear ArmsControl before he and land mine survivorKen Rutherford founded the LandmineSurvivors Network (LSN). More than130 LSN staff work in seven countries,including Jordan, where they work withIraqi amputees.

‘‘T

T H O U G H T

Your gift to the

Business School

Annual Fund

helps to transform

our vision into reality.

A C T I O NEarlier this year, the Business

School launched the public phase of

its campaign to further its role as a

leader in thought and action.

Your participation, regardless

of the size of your gift, provides

resources for:

• path-breaking faculty research

• innovations in the classroom

• student scholarships

• our action-based programs

Make your tax-deductible gift to

the School’s Annual Fund by using

the attached envelope, calling

734.763.5775, or giving online at

www.bus.umich.edu/annualfund.

ALUMNI ACTIVITIES


BeijingMichigan Business School alumni

living in Beijing welcomed Kristina(Corzine) Martinez, MBA ’03, of HuntValley, Maryland, when she recently visited the city on a business trip.Martinez works at Procter & GambleCompany Cosmetics. To contact thegroup, e-mail Hao Sun, MBA ’00, [email protected].

Pictured left to right are Hao Sun, MBA ’00,Kate Feng, MBA ’03, Kristina (Corzine) Martinez,MBA ’03, David Wu, MBA ’99, Jessie Zhang,MBA ’03, and Lin Zhou, MBA ’03.

ChicagoThe Michigan Business School Club of

Chicago held its annual Spring BusinessConference titled “Leadership in ChangingMarkets” on May 27 at Chicago’s GleacherCenter. More than 75 alumni fromMichigan and several other top businessschools attended the conference, whichfeatured a presentation by BusinessSchool Professor Robert Quinn aboutleadership and Positive OrganizationalScholarship. A panel of distinguishedbusiness leaders shared their experiencesand insights on leadership. Panelistsincluded Mary Kay Haben, MBA ’79,senior vice president, Kraft Foods; JohnFox, MBA ’67, retired vice chairman and global managing partner, DeloitteConsulting; and David Hiller, senior vicepresident, Tribune Publishing Company.For information about Business Schoolalumni activities, contact Greg Bolino,MBA ’92, at [email protected].

MexicoThe Mexico Alumni Club organizes a

dinner for Michigan alumni twice a year.At the club’s April dinner, alumni metwith prospective students, talked abouttheir experiences at the Business Schooland answered students’ questions. April

and last September’s dinners were held at the Omei Restaurant, owned by KuanTai, MBA ’00. Mexico Alumni Clubleader Gerardo Ruiz, MBA ’99, can bereached at [email protected].

MinnesotaCongressman Mark Kennedy, MBA

’83, from Minnesota’s Sixth District, wasthe guest speaker at a program titled“MBA Goes to Washington” at theCalhoun Beach Club in Minneapolis onApril 19. Thirty-five people, includingadmitted students, attended the programsponsored by the Michigan BusinessSchool Club of Minnesota. Kennedy, firstelected to Congress in 2000, serves on theHouse Financial Services and the Trans-portation and Infrastructure committees.For more information about the Minnesotaclub, contact Neil Janmohamed, MBA’02, at [email protected].

New YorkOn New Year’s Day, a group of 16 mem-

bers of the Michigan Business SchoolAlumni Club of New York traveled toSouthern California to root for theWolverines against the Trojans of theUniversity of Southern California in theRose Bowl. Following the game, the NewYorkers enjoyed a fun evening of net-working with the local host alumni clubs,the Business School Alumni Club of LosAngeles and the Alumni Club of LosAngeles. For the latest on alumni activitiesin New York City or to become involved,e-mail Cecil Shepherd, MBA ’00, [email protected].

North CarolinaBusiness School alumni living in North

Carolina gathered at the home of KarenMishra, MBA ’88, and Aneil Mishra,PhD ’92, on January 22 in Winston-Salem for networking and a presentationby Timothy L. Faley, managing director

NEW YORK—Left to right, Michael Goss, MBA ’02, Jennifer Alspach Goss, MBA ’02, andUniversity of Michigan alumni Miki Rosenbluth, David Leitner, Todd Rosenbluth and Illana Feiglinwere among those who attended the Rose Bowl.

NORTH CAROLINA—Left to right, James Morton, MBA ’65, Mimi Morton, Tony DeBiase, MBA ’99,Timothy Faley, Milton Goetz, BBA ’53, Doretta Hill, James Thompson Jr., MBA ’79, Jeanne Wilkinsonand Brian Shull, MBA ’86, PhD ’91, gathered at Karen and Aneil Mishra’s Winston-Salem home.

A L U M N I A C T I V I T I E S

of the Samuel Zell & Robert H. LurieInstitute for Entrepreneurial Studies,titled “Innovation and Entrepreneurialism.”“We had a lively discussion and enjoyedmeeting other Business School peoplefrom around the state,” Karen Mishrareports. Participants came from Raleigh-Durham, Chapel Hill and Greensboro.For more information about alumniactivities in North Carolina, [email protected].

SeattleMore than 35 Michigan Business

School alumni and members of theSeattle Business School Alliance (SBSA)turned out on a chilly January 17 for awinter wine reception at the ColumbiaWinery, outside Seattle, sponsored by the Seattle Alumni Club. The SBSA iscomprised of alumni from top businessschools living and working in the PugetSound area. For more about the SeattleAlumni Club, contact John Gearty, MBA’02, [email protected].

Pictured left to right are Ravi Gopal, MBA ’02,MaryAnn and Karl Roberts, Mark Kotzer,Siddharth Mangharam, MBA ’01 (holding acopy of the Monroe Street Journal), NormanSigler, MBA ’92, Krisanne Combs and VikramMangharam.

ShanghaiOn April 3, the Michigan Business

School Shanghai Alumni Club andShanghai American Club hosted a happyhour for alumni and 15 newly admittedstudents. Guests came from as far awayas Hong Kong. Daniell Chen, MBA ’00,reports that the new students cited “thewarm hearts, patience and achievementsof the Michigan Business School alumnithey had met during their applicationprocess” among the reasons they decidedto enroll at Michigan. For information

about the Shanghai Alumni Club, contactChen at [email protected].

Pictured left to right: Daniell Chen, MBA ’00,David Zhang, MBA ’02, Sophie Wong, ChemEngineering ’97, Jerry Liu, MBA ’02, andKevin Liu, MBA ’02

SingaporeMore than 80 participants from indus-

try and academic institutions attended a lecture by Izak Duenyas, the JohnPsarouthakis Professor of ManufacturingManagement, on November 28 inSingapore. The event was sponsored bythe University of Michigan ExecutiveEducation Center and the LogisticsInstitute-Asia Pacific in Singapore. Theseminar focused on challenges faced byfirms in integrating supply chains andinnovative approaches from Duenyas’research and Tauber ManufacturingInstitute student projects to overcomethese issues. For more information aboutalumni activities in Singapore, contactRichard Lui, MBA ’01, at [email protected].

Professor Izak Duenyas discusses the challenges of integrating supply chains.

South FloridaThe Michigan Business School Club

of South Florida sponsored a forum fea-turing Robert Kennedy, director of theWilliam Davidson Institute at theBusiness School, on April 29 at MiamiBeach’s Eden Roc Renaissance Resort andSpa. About 50 people, including alumni

from other leading business schools,attended Kennedy’s presentation titled“Offshoring and the Globalization ofService Activities.”

The Club of South Florida also spon-sored a forum about investment opportu-nities in real estate within Florida at thedowntown Miami Hyatt Regency Hotelon November 26. Two hundred peopleattended the event moderated byBusiness School lecturer Peter Allen andchaired by Dan Susik, MBA ’83. Theforum featured several prominent SouthFlorida community and industry leaders,including Frank Nero, chair of theBeacon Council, which is Miami-DadeCounty’s economic development organi-zation. Club President Dario Epstein,MBA ’91, a member of the AlumniSociety Board of Governors, organizedboth events. For more about the club ofSouth Florida activities, contact Epsteinat [email protected].

SwitzerlandWalter B. Kielholtz, chairman of the

Credit Suisse Group, was the keynotespeaker at a March 24 event sponsored by the Michigan Business School AlumniOrganization of Switzerland and theSwiss alumni club of the universities ofChicago, Northwestern, Wharton andStanford at the Hotel Baur au Lac inZurich. More than 120 alumni attendedthis lively program and dinner party.Members of the Michigan hosting teamincluded Martin Brändli, MBA ’96,Bernhard Brunner, MBA ’98, PhilipDykewicz, BBA ’80, MBA ’86, BeatGeissler, MBA ’95, Alain Held, MBA ’99,and Chris Muggli, MBA ’72. To becomeinvolved in Michigan’s Swiss alumniorganization, contact Geissler [email protected].

Alumni and guests gather at the Hotel Bauerau Lac in Zurich.



Rome J. Kubic Jr., MBA ’50recently was named an honorary 50-yearmember of the American Institute ofCertified Public Accountants. Rome wasraised in Elizabeth, New Jersey, and wasthe youngest person to receive the rank ofEagle Scout in November 1941. He servedin the Pacific Theater in WW II, receivedhis BA from Columbia in 1949 and thencame to the University of Michigan. Hestarted his career with Price Waterhousein New York City, received his CPA in1952 and in 1954 was the first Americansent to Hamburg, Germany, to trainGerman staff in American audit standardsand techniques. Upon completion of hisassignment in 1956, he resigned fromPrice Waterhouse and joined Mobil OilCorporation, working around the world.He returned to the U.S. in 1971 and retiredin 1986. He then spent several yearsworking with H&R Block, and in 1991joined the Susan Fund as its treasurer, aposition he still holds today. The SusanFund is dedicated to assisting FairfieldCounty residents who have been diag-nosed with cancer to pursue their educa-tional goals through scholarship grants.

Donald R. Kingdon, BBA ’51, MBA ’55served as an officer in the U.S. Navy forseveral years in the 1950s. He earned hisPhD and went on to positions at GeneralElectric and Litton Industries, while doingconsulting for TRW Systems and BechtelCorporation. He also was a full-time facultymember at the University of SouthernCalifornia, and finally became a seniororganization consultant at Atlantic RichfieldCompany. Don retired from there in 1985,but undertook several other positions—from antique importing, consulting and salesto keno dealer. He now serves as a home-less activist in Santa Monica, California. Ifyou wish to contact Don, call 310.396.7043.

James C. Holmes, MBA ’53is chairman of H. P. Holmes inBirmingham, Michigan. A nationallyknown real estate counselor and apprais-er, his father was a 1917 graduate of theUniversity of Michigan. He and his wifeHelen have three sons, all of whom havegraduated from the University. Two ofthose sons are partners with him in theHolmes & Layton real estate company.After graduation, Jim became an instruc-tor in real estate at the Business School.“Stephen Ross, currently a leader in realestate development in New York City,was one of my students,” he says. Twooutstanding athletes, Red Berenson andBill Freehan, also were his students. “Ithink the Business School’s high interna-tional ranking is due in part to the quali-ty of faculty who blend academics withtheir own practical background. I’ve hadthe pleasure of meeting Dean RobertDolan and President Mary Sue Coleman,and I am confident in their abilities toface the challenges ahead for higher edu-cation,” he adds.

Stephen Hunter, BBA ’62, MBA ’63“We have three children (one UM grad-uate) and five grandchildren, living inChelmsford, Massachusetts, Boulder,Colorado, and Carmel, Indiana, whichgives us lots of travel opportunities.Volunteering is my hobby, and I am currently serving on the village planningboard and the boards of the local UnitedWay and daycare center,” reports Stephen.

David Howe, BBA ’64, MBA ’65is minister of administration for the FirstBaptist Church in Sierra Vista, Arizona.David previously was the chief operationsofficer at Shadow Mountain Ministries inEl Cajon, California, where he began histhird career as a church administratorafter having careers in the Marine Corpsand the defense industry.

William C. Handorf, MBA ’67has been re-appointed to a three-year termon the board of directors of the Baltimorebranch of the Federal Reserve Bank ofRichmond. He is a professor of finance atthe George Washington School of Businessand Public Management, and wrote TheCorporate Finance Letter for 10 years.

Currently he prepares Global Indicators:U.S. Financial Markets, a monthlynewsletter that synthesizes U.S. financialhighlights with supporting documenta-tion about emerging trends. It is availablefree at www.gwu.edu/~sbppm/news/indicators.htm.

Johanna (Bannon) Becker, MAS ’69retired in May 2004 from MetLife after35 years with MetLife/New EnglandLife. She resides in Westwood,Massachusetts.

Richard E. Hollander, MBA ’72has been named executive vice presidentof the Society of Industrial and OfficeRealtors. He will be responsible for theday-to-day management of the 2,200-member organization and ensuring thatproduct and service offerings are cutting-edge and of exceptional value. Previouslyhe was managing director of WashingtonInvestment Partners, where his responsi-bilities included acquiring retail realestate in the southeast. He also has beensenior vice president and managingdirector with Randall H. Hagner andCo., a Washington, D.C., brokerage firm,and was an executive at Cushman &Wakefield, where he established andmanaged its Washington, D.C., down-town and suburban offices.

Don R. Leclair, MBA ’76is group vice president and CFO of FordMotor Company. Since August 2003, hehas had overall responsibility for Ford’sfinancial operations, including the con-troller’s office, treasury and investor rela-tions. Since joining Ford in 1976 as afinancial analyst at the Lorain AssemblyPlant, Don has held a number of keyfinance positions.

Timothy D. Leuliette, MBA ’76is chairman, president and CEO ofMetaldyne in Plymouth, Michigan. Heoversees operation of the global metalcompany, which is comprised of the for-mer MascoTech, Simpson Industries andGlobal Metal Technologies. He also is afounding partner and senior managingdirector of Heartland Industrial Partners,a private equity firm focusing on selectindustrial companies primarily locatedthroughout the midwest. He is chairmanof the board of the Detroit branch of theFederal Reserve Bank of Chicago.

Class Notes

C L A S S N O T E S

Carolynn Walton, BBA ’76was named vice president and treasurerfor Blue Cross Blue Shield of Michiganin October 2003. Carolynn joined theBlues in January 1996 from KelloggCompany, where she served as manager-benefits and trust administration andmanager-property and casualty insurance.Prior to that she was with Federal-MogulCorporation and PriceWaterhouseCoopers.She is a member of the AmericanInstitute of Certified Public Accountantsand the Michigan Association ofCertified Public Accountants.

Margaret W. (Peggy) Carroll, MBA ’78is a sales associate with Charles ReinhartCompany Realtors. In 2003 Reinhart wasthe market share leader in WashtenawCounty, both in terms of total units closedand total dollar volume. You can reachPeggy at [email protected].

Mary Lincoln Campbell, MBA ’79is founder and general partner of EDFVentures in Ann Arbor. As a member oftheir healthcare practice team, Mary hasled the firm’s investments in multiplehealthcare and information technologycompanies. She is a member of the steer-ing committee for the state of Michigan’sLife Sciences Corridor, is chairman of theboard of trustees for Northern MichiganUniversity and is active with the MichiganBusiness School and its WolverineVenture Fund.

Ron Heller, MBA ’79has been selected by the National Federa-tion of Independent Business (NFIB) as“Small Business Champion” for the stateof Hawaii and for the six-state southwestregion of the U.S. The award recognizesefforts to improve the business climate,

particularly for Main Street, mom-and-pop small firms. Ron has been active intestifying against tax increases, draftinglegislative proposals, organizing NFIBactivities in Hawaii and working withother business-oriented groups. He is a director and stockholder of theTorkildson Katz law firm in Honolulu,where he does tax law and business/com-mercial litigation. You can reach him [email protected].

Wendy Barth, MBA ’80was recently promoted to senior vicepresident of product management andinnovation at Rich Products Corporation.Wendy joined Rich’s in 2001 as vice pres-ident of the bakery strategic business unit.Prior to that she worked with AholdUSA/Tops Supermarkets and 7-Eleven.Wendy volunteers her time on the board


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FAX your class note to Dividend

734.647.2401

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Lesa Chittenden Lim, MBA ’86,chairperson of the MichiganBusiness School Alumni

Society Board of Governors andpresident of the management con-sulting firm LMCL, is adding a newcareer — artist — to her personalportfolio.

The Dearborn, Michigan, native’sinterest in art developed at an earlyage. She took ceramic classes atPewabic Pottery and won a prizefrom The Detroit News Art Show inher late teens. Chittenden Lim’s pas-sion for art was only exceeded byher desire to excel in business. As ajunior at Michigan, she put her artcareer on the back burner to focus onbusiness. A mechanical engineeringdegree from the College of Engineeringgained her a position in DuPont’s FieldEngineering Program for high-potentialemployees. After successfully completingseveral engineering assignments,Chittenden Lim realized she could con-tribute more to a company if she had astronger business foundation, so shereturned to Michigan for her MBA andfound her niche in corporate strategy. She served as an engagement manager atMcKinsey & Company, director of strate-gic planning at FMC, and vice presidentand general manager of the $500 millionspecialty chemical division at AlliedSignal before starting a management consulting firm.

Lesa Chittenden LimGrows Her Portfolio

Chittenden Lim’s passion for art wasreignited in 1998. She took night classesto relearn the basics, started daytimecourses in 2001 and is in the third year of a four-year painting program at thePennsylvania Academy of the Fine Artsin Philadelphia. Chittenden Lim’s work,including “Etude # 1” in the photographabove, won an award in fall 2003. It also was featured at the academy’s 103rdAnnual Student Exhibition and 12thAnnual Graduate Thesis Exhibition inMay and in the school’s April-June 2004alumni magazine Preview.

Chittenden Lim’s goals include main-taining her consulting business whileexpanding her art business. The Penn-sylvania Academy has asked her to teacha business course for artists. She can becontacted at [email protected].

C L A S S N O T E S


of trustees of the Buffalo PhilharmonicOrchestra, has worked with Child andFamily Services in several positions andwith the Zion Lutheran Church.

Eric Leininger, MBA ’81left Kraft Foods in March and joinedMcDonald’s Corporation as senior vicepresident of global business research.“Claire and I celebrated our 28thanniversary this spring as our daughtersboth graduated—Liz from SwarthmoreCollege and Emily from BarringtonHigh School,” says Eric proudly.

Diana Freeburg, BBA ’83vice president of Comerica Securities, has been named among the country’s topbank investment representatives, accordingto Bank Investment Consultant magazine.Diana is one of 32 investment representa-tives from around the country honoredby the magazine for their ability to exem-plify their institutions’ values, provideexcellent customer service and mentorother employees. She joined ComericaSecurities in 1985 and resides in nearbyBloomfield Hills, Michigan.

Jack Dolmat-Connell, MBA ’84is senior vice president of global humanresources for Geac Computer in South-borough, Massachusetts. “After spendingthe last 10 years in HR/executive compen-sation consulting, I’ve returned to corpo-rate, heading HR for this $400 millionenterprise software company. Last year Ihad an article published in Forbes on amajor study I conducted on executive stockownership and firm performance,” reportsJack. “My wife Carrie heads her ownthriving legal practice after 10 years inmajor law firms. Stephanie has graduatedfrom Yale, where she was a four-yearAcademic All-American field hockeyplayer, and Scott is a junior in highschool — as well as aspiring actor andbicycle racer.” You can reach Jack [email protected].

Bruno Piperno, MBA ’84is president of Business Value in Rome.You can contact him at [email protected].

Pete Bosse, MBA ’86returned in March 2004 to his position as vice president of business developmentat Best Buy World Headquarters inRichfield, Minnesota, after a 14-monthstint in Kuwait and Iraq with the U.S.Army Reserve. Bosse is a Lt. Colonel inthe Army Reserve and served as a basecamp commander in Kuwait and asdirector of logistics at Camp Anaconda

in Iraq. He was awarded the Bronze Starfor his service in Kuwait and the ArmyCommendation Medal for his service inIraq. Pete has three sons, Robert, Davidand Michael, and currently resides inMinneapolis. You can reach him [email protected].

Wendy Marx, MBA ’87is president of Marx Communications, aConnecticut-based public relations agencyspecializing in public relations and mar-keting communications for business-to-business companies. Her firm has helpedbring numerous brands and executives tothe limelight in the financial services,

C L A S S N O T E Sincludes a collection of more than 4,000maps, including many old State ofMichigan maps and photos, several ofAnn Arbor and of the stadium andgames. His business has become quitesuccessful; he offers a map for everyoneand every occasion. You can reach Jim [email protected].

Philippe Prufer, MBA ’88has been working for Eli Lilly sincegraduation in various sales, marketing,strategic planning and general manage-ment positions in the U.S., Brazil andArgentina. He was named general man-ager of Eli Lilly Brazil in May 2001, andin January 2004 became responsible forEli Lilly Brazil and Eli Lilly SouthernCone (Argentina, Chile, Uruguay andParaguay). The combined operation hasaround 800 employees and sales of roughly$150 million. “I will be reporting to thepresident of intercontinental operationsand will continue to live in Sao Paulo,Brazil,” says Philippe. “My wife Alexandrawill finish her art program at EscolaPanamericana in Sao Paulo by the end of2004, and we have three children, Thomas,15, Nicholas, 13, and Stephanie, 8.”Philippe continues to serve on the boardof the Brazil Alumni Club, and can becontacted at [email protected].

Andy Arvidson, BBA ’89founded Imagine Fulfillment Services inTorrance, California, six years ago andbuilt its revenues to $13.6 million in 2002,with expected revenue in 2004 of $18 million-$20 million. Imagine FulfillmentServices provides inventory tracking,credit card order processing and shippingfor its customers, which now numbermore than 40. “We do order fulfillmentless expensively and more efficiently witha high sense of urgency,” he says. Hefounded the company in June 1998, andsoon brought on partner Jim Heffernan,then an order fulfillment manager at20th Century Fox. They have movedthree times and are now in a 150,000-square-foot warehouse close to the portsof Los Angeles and Long Beach, as wellas Los Angeles International Airport.They currently have 275 employees. Youcan learn more by contacting him at:[email protected].

David Cole, MBA ’89“After six years with Borders, my familyand I pulled up our roots from AnnArbor and moved 20 miles away to

Northville. Julie and I are now the proudparents of a bustling bakery — GreatHarvest Bread Co. Our three kids are inheaven helping us with the store at thecurrent pay rate of one gumball perhour,” says Dave. Order your bread [email protected].

Timothy A. Wild, MBA ’89is vice president of Battelle CapitalAdvisors, a mergers and acquisitionsoperation started by Battelle & BattelleLLP, one of the Dayton area’s largestaccounting firms, in August 2003. Timformerly was with Associated BusinessInvestment Corp. He has a daughter,Eleanor, 3, and twins Luke and Lillie, 1.Contact him at [email protected]

Thomas Kushner, MBA ’90was elected to the board of directors ofthe Joe Torre Safe at Home Foundation,a domestic violence education nonprofit.Check it out at www.joetorre.net.

Dario Epstein, MBA ’91Business Wire Latin America (BWLA), a subsidiary of IMS Companies, hasestablished an annual award to recognizeefforts promoting the development ofemerging Latin American markets basedon ethics, transparency, disclosure andequal opportunity for investors. The firstBWLA Annual Prize for the Promotionof Market Ethics in Latin America hasbeen awarded to Dario Epstein, presidentof Sur Investment Company and formerdirector of the Argentine National Secu-rities Commission. Dario, a member ofthe Alumni Society Board of Governors,has been living in Miami for the past twoyears, where he advises companies with a presence or interest in Latin America.“I am profoundly honored to receive an award that recognizes my passion fortransparency, information and investorprotection, which I consider as or moreimportant than what may have been mysound decisions on financial projections,”says Dario.

Lois Marler, MBA ’92is chief financial officer for EDFVentures in Ann Arbor, a small-businessinvestment company. Lois managesEDF’s relationship with the SmallBusiness Administration and also over-sees the firm’s information technologyand administrative services.


professional services and technologyarena. Wendy has written for The NewYork Times, Advertising Age and otherpublications. She previously did PR andmarketing for AT&T and GE Capital.Having been single for many years, she is delighted to report she is now happilymarried to George McGoldrick. They areresiding in Trumbull, Connecticut, andshe welcomes hearing from classmates [email protected].

Sarah Raiss, MBA ’87is executive vice president, corporateservices, of TransCanada Corporation inCalgary. She was named one of the top100 most powerful women in Canada(sponsored by the Toronto Globe & Mailnewspaper, Ivey Business School andWXN Women’s Executive Network), andwithin this list among the top 30 corpo-rate women. She also was named co-chairof the United Way campaign for the cityof Calgary. She has been appointed to theSenior Advisory Group on InternationalTrade and the Advisory Group onRetention and Executive Compensationfor the government of Canada.

Stacey Davis Stewart, MBA ’87president and CEO of the Fannie MaeFoundation since September 1999, deliv-ered the 2004 commencement address on April 30 at Crisler Arena. Stacy leadsthe country’s largest foundation devotedto affordable housing and communitydevelopment issues. She oversees a teamof more than 100 professionals, andunder her direction the foundation hasbecome one of the largest private founda-tions in the country. In 2001, the FannieMae Foundation was responsible fornearly 20 percent of all housing and com-munity development grants in the country.

James Lantos, BBA ’88runs a three-year-old start-up in Pittsburgh,www.historicpanoramicmaps.com, that

� MBS Marketplace(www.MBSmarketplace.com)The MBS Marketplace offers a wide variety of apparel,business accessories and gift items for the wholefamily. Show the world your pride in being a memberof the Business School community!

LIFELONG LEARNING TOOLS� Kresge Library

(http://eres.bus.umich.edu/web/alumni2.html)Visit the Kresge Business Library to access onlinebusiness information and career resources. Kresgenow offers 11 subscription databases free of chargeto Business School alumni, including WetFeet PressInsider Guides, InfoTech Trends and Reference USA.The Library also offers links to hundreds of businessWeb sites, access to Mentor (the library catalog) andfaculty working papers.

� Executive Education (http://execed.bus.umich.edu)Executives know that the key to continuing job successis continuing education; the Executive EducationCenter offers the programs that can help you achievesuccess in every aspect of your professional life.

SERVICES & PROGRAMS� iMpact (www.bus.umich.edu)

Get connected to the Business School’s password-protected online community for students, faculty, staffand alumni. Via iMpact, members can access theBusiness School Alumni Directory, class and club Websites, career listings and more.

To get an iMpact login name and password, contact Development and Alumni Relations [email protected] with your name, your name whilein school (if different) and your degree and year ofgraduation. Requests will be answered within 24 hours.

� Alumni Directory(www.bus.umich.edu/Networking/AlumniDirectory.asp)Connect with Business School alumni in your city,country, company or class with this easy-to-use,searchable database located in iMpact.

� Class Web Sites(www.bus.umich.edu/Classsites)Find out what your classmates have been up to lately, and publish personal and professional updates of yourown. To help develop your class Web site, contactDevelopment and Alumni Relations at [email protected].

� Alumni Clubs Network(www.bus.umich.edu/AlumniCommunity/AlumniClubs)Get involved in the Business School alumni communityin your city or country. To join or establish a club inyour area, contact Marla Mast at [email protected].

University of Michigan Business School Creating a Lifetime Community

Alumni Services

Development and Alumni Relationswww.bus.umich.edu/AlumniCommunity

The University of Michigan Business School boasts a powerful, international alumni networkof more than 35,000. To help unite and strengthen this diverse and influential community,the Business School and Development and Alumni Relations are pleased to offer thefollowing services, programs, tools and products—all designed to help alumni communicateeasily and network effectively with both the Business School and one another.

Washington, DC, Club members with ProfessorJan Svejnar (third from left)

Professor Gretchen M. Spreitzer

BUSINESS SCHOOLDEVELOPMENT AND ALUMNI RELATIONS

Phone: 734.763.5775Fax: 734.615.6103E-mail: [email protected]

Michael Andreasen, Assistant Dean, Development and Alumni [email protected]

Ann LaCivita, Director of Alumni [email protected]

Julie Antis, Assistant Director–[email protected]

Marla Mast, Assistant Director–[email protected]

COMMUNICATION TOOLS� Lifetime E-mail

(www.bus.umich.edu/AlumniCommunity/EmailForLife)Sign up for a free “@umich.edu” e-mail forwardingaddress! Stay in touch with classmates and othermembers of the Business School community, evenduring career transitions and changes in Internetproviders.

� MichiganMail(www.bus.umich.edu/AlumniCommunity/Michiganmail)Update your e-mail address at [email protected] receive Development and Alumni Relations’ e-newsletter, packed full of information about theBusiness School, the University and alumni.

For more information about these and otherservices for Business School alumni, visit theDevelopment and Alumni Relations Web siteat www.bus.umich.edu/AlumniCommunity.

Class of 1997 alumni

Regional Clubs& ContactsEASTBoston*Lowell Kim, MBA ’[email protected] Leonard, MBA ’[email protected] JerseyJeff Norman, BBA ’[email protected] York*Cecil Shepherd, MBA ’[email protected]/Delaware Valley*Grace Tsuei, MBA ’[email protected], DC*Steve Hennessey, MBA ’[email protected]

MIDWESTChicago*Greg Bolino, MBA ’[email protected] Neuroth, MBA ’[email protected] Histed, MBA ’[email protected]*Steve Morris, BA ’[email protected] WaynePaul Campbell, BBA ’61260.747.7592IndianapolisMike Shingler, MBA ’[email protected] Loudenslager, MBA ’[email protected] City*John Copaken, MBA ’[email protected]*Kurt Cumming, MBA ’[email protected]*Neil Janmohamed, MBA ’[email protected]. LouisJordan Pratzel, BBA ’[email protected]

Toledo*John McCarty, MBA ’[email protected]

SOUTHAtlanta*Barry Trout, MBA ’[email protected]*Julie Lehne, MBA ’[email protected]/Fort WorthTom Dolan, MBA ’[email protected] Watts, MBA ’[email protected] Skeeters, MBA ’[email protected] Heckelman, MBA ’[email protected] CarolinaKaren Mishra, MBA ’[email protected] Rico*Manuel Calderon, MBA ’[email protected] Florida*Darío Epstein, MBA ’[email protected]/St. PetersburgDavid Everett, BBA ’[email protected]

WESTDenver*Jane Okun, MBA ’[email protected] Angeles*Harry McElroy, MBA ’[email protected] McInnis, MBA ’[email protected] DiegoDrew Hoffman, MBA ’[email protected] Francisco Bay Area*Shelley Scipione, MBA ’[email protected]*John Gearty, MBA ’[email protected] [email protected]

AFRICA & MIDDLE EASTIsrael*Benzi Ronen, MBA ’[email protected] CoastBernard Kouassi, PhD ’[email protected] Arab Emirates(Dubai)Sunil Khanchandani, BBA ’[email protected]

THE AMERICASArgentina* (Buenos Aires)Christian Sieling, MBA ’[email protected]* (São Paulo)Raul Aguirre, MBA ’[email protected]* (Toronto)Mitch Green, MBA ’[email protected] AmericaKlaus Stadthagen, MBA ’[email protected]* (Santiago)Juan Carlos Altmann, MBA ’[email protected] RicaMarco Gutierrez, MBA ’[email protected]* (Mexico City)Gerardo Ruiz, MBA ’[email protected]*Fernando Fort, MBA ’[email protected] Blanco, MBA ’[email protected]

ASIAAustralia (Sydney)Miguel Madrigal, MBA ’[email protected]* (Beijing)Hao Sun, MBA ’[email protected]* (Shanghai)Daniell Chen, MBA ’[email protected] Kong*Richard Chow, MBA ’[email protected]* (Mumbai)Ashish Khemka, BBA ’[email protected]

India (New Delhi)Atul Bahadur, MBA ’[email protected]*Takeo Suzuki, MBA ’[email protected] (Karachi)Nabeel Batlay, BBA ’[email protected]*Richard Lui, MBA ’[email protected] KoreaSang-Wook Ahn, MBA ’[email protected] Sun, MBA ’[email protected] Kulvaraporn, MBA ’[email protected] Nguyen, MBA ’[email protected]

EUROPEAustria*Joerg Windbichler, MBA ’[email protected] Hung, MBA ’[email protected] & Eastern EuropeGregor Strazar, MBA ’[email protected]

England* (London)Otto Driessen, MBA ’[email protected]* (Paris)Stéphane Blondeau, MBA ’[email protected]* (Frankfurt)Andreas Kirschkamp, EX ’[email protected]*Sylvia Salibi, MBA ’[email protected] (Rome)Riccardo Cesarei, MBA ’[email protected] Lorentzen, MBA ’[email protected]* (Madrid)Jeff Hassman, MBA ’[email protected]* (Zürich)Beat Geissler, MBA ’[email protected]

Special Interest ClubsBlack Alumni Association*(UMBS-BAA)Harry McElroy, MBA ’[email protected] of Michigan Entertainment CoalitionDominic Cianciolo, BBA ’[email protected]


Alumni Clubs & Contacts

For more information aboutalumni activities in yourarea, e-mail your regionalcontact or club leader or contact Developmentand Alumni Relations [email protected].

*Denotes established or forming clubs as of May 2004

Attendees at the Alumni Leadership Workshop in October2003 included Michigan Business alumni club leaders and contacts, members of the Alumni Board of Governors,faculty and staff.


C L A S S N O T E S


Richard Paulk, MBA ’92has been named vice president and CFOof Kaplan Professional, a division ofglobal education services providerKaplan Inc. He will oversee financialoperations and business development forthe division, which provides licensingand continuing education programs forprofessionals. Richard will be based inthe division’s Chicago headquarters.Formerly he was at iPilot, an Illinois-based technology company, where heserved as COO for five years. Prior tothat, he was CFO of the product servicesdivision and manager of investor rela-tions for Sears Roebuck.

Jonathan A. Browy, MBA ’94is vice president of commercial bankingfor Am South Bank in Tampa. He andhis wife Marion are proud to announcethe birth of their second child, MadelinePaige, born on April 8, 2004. Madelinejoins big brother, Christopher, age 2.

David Himmel, MBA ’94married Ellen Pincus last year, and theyhave relocated to Jupiter, Florida. “I amstarting a new business down here afteryears of working in New York as a productand services marketer. Any classmates com-ing down this way are welcome to visit.Contact Dave at [email protected].

Michael Tarlowe, BBA ’94is the founder and president of Virt RecordsLLC, a Seattle-based independent recordlabel. The label’s roster includes ViennaTeng, Shane Nicholson and Brenda Weiler,among others. Michael is responsible fordiscovering and signing artists, publicityand the overall strategic direction of thecompany. “For our fourth year, 2005, weplan to expand, but we are very selectivewhen signing artists and don’t want to bein a position where we can’t put all ourresources, time and effort behind each andevery release,” adds Michael. For moreinformation, visit www.virtrecords.comand www.viennateng.com.

Andrew Chien, MBA ’95is now heading the new North Americanoperations of Ricardo Strategic Consulting,with offices in Detroit and Chicago. Hehas held a variety of consulting positionssince 1995, and most recently was vicepresident of A. T. Kearney’s automotivepractice in Southfield, Michigan. Prior to

that he was a financial analyst at Inteland a design and race engineer for FordMotor Company. He received his BSMEfrom MIT and his MSME from Cornellprior to coming to Michigan.

Jincheon Kim, Global MBA ’96had been deputy general manager in theoffice of the chairman for Daewoo Group,overseeing the human resource practicesand managing international executiveprograms for Daewoo Group’s 1,000executives and 120,000 personnel world-wide when he started his MBA program.In 1999, he formed VenturePeople, anexecutive search firm “owned by severalleading venture companies and theirmanagement who share the same venturespirit,” says Kim. It has become one ofKorea’s top HR firms. “I definitelyacknowledge my MBA skills for what I have achieved, and frequently askwhether I could have started a business if I had not entered the MBA program.”In Korea, people with an MBA have thecompetitive advantage. The Asia GlobalMBA Program offers not only thedegree, but also the opportunity for students to learn about the backgroundsand cultural differences of Asian coun-tries,” adds Kim, who is still involved in the Seoul Alumni Association and the Michigan Business Club.

Greg Arnson, MBA ’97moved to Utah in late 2002 to be closer tofamily and began working virtually forRoot Learning. “So far, working virtuallyhas been wonderful, especially consider-ing that Sarah and I had our third childlast September,” says Greg. “I have twolocking doors that act as sanity barriers soI can actually get work done. After sevenyears, I still enjoy working at Root verymuch,” he adds. You can reach Greg [email protected].

Rebecca Meurer, MBA ’97“Jan, Noah and I recently moved toCincinnati from Geneva, Switzerland.It’s funny to be back in the states after six years abroad, but it’s nice to be closerto family and friends again,” reportsRebecca. They were expecting baby num-ber two in May, and Rebecca adds, “I’menjoying being a stay-at-home mom.” Tocheck on the new offspring, e-mail [email protected].

Candace TenBrink, MBA ’97is founder and managing partner of AltosEntertainment LLC, a newly formedcompany that develops and producesfemale-centric feature films for the globalmarket. She also is a founding member ofthe newly created University of MichiganEntertainment Coalition of New Yorkand serves as its chair of professionaldevelopment. She and her husbandrecently moved to New York and wel-come contact at [email protected].

Tracy (Brown) Marshall, MBA ’98founded Marshall Consulting Group andis currently managing an engagementwith America’s largest nonprofit health-care organization. Tracy, husband JohnMarshall, MBA ’97, and son Cole recentlymoved to Danville, California.

Andrea (Damusis) Memenas, MBA ’98“After five years working in various mar-keting communications positions acrossFord Motor Company, I joined up withtwo friends and we started a relationshipmanagement consultancy—MatrixConsulting Partners,” says Andrea. “Wefocus on helping companies optimizetheir customer experiences by employingrelationship-based business strategies.Though I’m still working hard, I nowhave more control over my schedule,which makes it easier to spend time withmy husband Victor and our two boysJustin, 3, and Adam, 2. We currently livein Laguna Niguel, California. I’d love tohear from you at [email protected].”

Menno Ellis, MBA ’99“Last year I married Keri Heye in Dallas.Attendants included Carlos Zavala, MBA’99, Trevor Wilson, MBA ’99, EricStettler, MBA ’99, and Larent Laffineur,MBA ’99. I also recently made a careerchange, joining the marketing strategyconsulting firm of Achenbaum, Bogda &Associates as a partner in Dallas,” reportsMenno, who adds that after five yearswith A.T. Kearney’s strategy practice, hedecided to move to a smaller, more entre-preneurial group that would allow him to concentrate on marketing and revenuegrowth consulting. You can congratulateMenno at [email protected].

Erin (Penniman) Mott, MBA ’99was married in June 2003 to David Mottof Minneapolis. Erin continues to work at General Mills in marketing where shehas been since graduation.

C L A S S N O T E S

Michael DelGrosso, MBA ’00is making a major foray outside his busi-ness career into politics. To learn moreabout his political ambitions, visit his Website at www.delgrossoforcongress.com.

Sujit Kumar, MBA ’01“Kshama and I moved to Charlottesville,Virginia, last month, and I’ve taken anew job with GE’s GE-Fanuc division,”says Sujit. “The place is gorgeous andwork is going very well so far.” You canreach Sujit at 434.978.5452 or by e-mail [email protected].

Herman Chein, MBA ’02“I cannot say enough about how well myBusiness School education has preparedme for my work over the past two years,”says Herman. “Working in a Taiwaneseelectronics company has presented chal-lenges that are unseen outside U.S. multi-nationals. I enjoy solving our problems byworking on management of R&D, manu-facturing, marketing and finance at thesame time. The rigorous analytical work,IMAP, emphasis on teamwork and team

building, and teaching on organizationalbehavior and leadership are the best skillsI could have built to make change hap-pen at work,” he adds. The warm watersof the Pacific also have turned Hermaninto a self-proclaimed surfer dude, espe-cially after a trip to Bali. If you want toknow more, contact Herman [email protected].

Jonathan Chizick, MBA ’02“My wife, Tristan, and I are proud toannounce the birth of our daughter,Braelan Aileen, on February 4, 2004.”Congrats may be sent to Jonathan andTristan at [email protected].

Edward Gibney III, MBA ’02“From my first days at the BusinessSchool, I was inspired by the burden ofresponsible leadership the faculty andstaff stressed were now ours,” says Ed.“My summer internship sent me to con-sult with Eskimos in Alaska, and it mademe realize how fulfilling it could be toshare the skills I learned in the classroomwith people who might not otherwise be able to afford them, while also beingimmersed in a foreign culture. Upon

graduation, I joined the Peace Corps,where for two years I will learn a lan-guage, gain international experience andhelp Ukrainian businessmen make theleap from a planned to a free marketeconomy. I am currently working with a small NGO that is trying to establish a business training and consulting centerwith hope of eventually opening a busi-ness incubator. It’s fascinating, frustratingand rewarding, and I would never behere without my MBA.” To learn moreabout Ed’s very giving experience, youcan reach him at [email protected].

Michael Goss, MBA ’02married Jennifer Alspach Goss, MBA ’02,and celebrated their first anniversary inthe Bahamas. They met in Washington,D.C., before business school, “and Michiganwas kind enough to accept both of us,”says Mike. Mike has been working forBOC Gases in Murray Hill, New Jersey, asa senior business analyst for the planninggroup. Jennifer is working at AmericanExpress. Both are involved in the MBAAlumni Club of NY, Mike as vice presi-dent of general management, and Jen asvice president of marketing. To find out


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C L A S S N O T E S


more about them and the NY AlumniClub, contact [email protected].

Jill Hungerford, MBA ’02has joined Cerner Corporation, a lead-ing provider of healthcare informationtechnology, after five years as a financemanager with Ford Motor Company. Jillprimarily serves in Kansas City as a busi-ness development manager, where she isresponsible for strategic decision analysisin the intellectual property organization.More recently, though, Jill returned fromworking in London for six months as partof Cerner’s global operations. You canreach her at [email protected].

Darys Estrella Mordan, MBA ’02an associate in the fixed income currencyand commodities division of GoldmanSachs & Company in New York, sharesher financial expertise with corporationsin her native country, the DominicanRepublic, helping them to expand their

businesses. She lives with her husband,Andrew Wilson, son Yan Diego, 7, anddaughter Maya, 4.

Sze-Yunn Pang, MBA ’02married Stephen Lo, MBA ’01, inSingapore in June 2003 in a rooftop garden wedding and Chinese banquet.Many friends from Michigan attendedthe wedding, including some who trav-eled from the U.S. “Thanks to everyonewho attended or sent greetings,” they say.“We have now settled in Washingtonstate and look forward to your visits.”You can reach them at [email protected].

Jose Salinas, MBA ’02founded Ayudate AC in August 2003, a firm specializing on microcredits ($50to $200 US) to people in rural Mexico.“The future is still up in the air,” saysJose, “but we are working on receivingadditional resources in 2004.” Jose alsowill be teaching in the MBA program atITAM, his former university in Mexico.His wife Lizette is eager to get back to

work. Currently, they have three chil-dren, Alejandro Salinas Estefan, 8,Sebastian Salinas Estefan, 3, and AnaSofia Salinis Estefan, born in October2002. You can reach him [email protected].

Rodolfo Quiles, MBA ’03is manager of Latin American Inter-national Government Affairs for Bristol-Myers Squibb (BMS) in New Jersey. Heis responsible for creating and leveragingrelationships among BMS country man-agers, foreign government leaders andfederal government departments to createa fair competitive environment for BMSand the U.S. research-based initiative. Youcan reach him at [email protected].

Mark Tholke, MBA ’03is working as a commercial analyst,Commercial Operations at GE WindEnergy, LLC, in Tehachapi, California.Mark can be reached at his permanent e-mail address, [email protected].

Daniel E. Sealey IIIMBA ’68passed away on November 18, 2003.“Des” was a proud alumnus who carefullyfollowed the lacrosse team, since he wasone of its founding members. His entirecareer was in the boating industry, formany years with Outboard MarineCorporation and later in the marina andboat manufacturing industries. In 1998,Des was a heart transplant recipient at theMedical University of South Carolina.He was able to see his two daughters,Gail and Janet, graduate and walk themdown the aisle. To his son Kevin, he wasa mentor and friend. To Cheryl, his wife,he was a wonderful partner and husband.Unfortunately, he battled with cancer forthe last year before his death. A fighter tothe end, his sense of humor and optimismwill remain with all of us.

Walter C. (Chip) Pew IIIMBA ’74passed away at age 52 on July 30, 2003, athis residence in Jupiter, Florida. He andhis beloved partner, Andrea Saks, MBA

’74, have been residents of Jupiter, formore than 12 years. Prior to that, Chipwas a resident of Blue Bell, Pennsylvania,and Avalon, New Jersey. In addition toAndrea, he leaves his sister, Arlene PewGussman of Gladwyne, Pennsylvania.

Joseph Edward Hadeed BBA ’04a second-year BBA student, died in aweather-related car accident on January18, 2004, at age 21, while returning homewith friends from a ski trip in Ontario. A graduate of Eisenhower High Schoolin Shelby Township, Michigan, Joe cameto the University in fall 2000 with keendetermination to become a member ofthe Business School. He was a member ofthe debate team and Delta Sigma Pi. His

friends remember him as “an amazinglydynamic and impassioned individual,”adding that Joe “was an ever-present voicein the classroom and a genuinely caringand kind individual who gave countlesshours and energy to help others.” Heinterned with the Boston ConsultingGroup in Chicago during summer 2003.Joe also enjoyed traveling with his familyand learning about people and their cul-tures, having been to Italy and Egypt last year. On April 30, Joe received aposthumous degree at commencement,recognizing his achievements at theBusiness School. Additionally, a memorialbench is being placed in the portico, andthe Boston Consulting Group sent $3,000to start a scholarship fund under Joe’sname. He is survived by his parents,Diann and Nab Hadeed, brother Brian,(DDS ’04), sisters Marianne, who gradu-ated from Michigan in 2001, and Suzanne,a sophomore at the University. Gifts tothe Joseph Edward Hadeed MemorialScholarship can be sent directly to ElsieL. Orb, Scholarships and Fellowships,University of Michigan Business School,701 Tappan St., 1235 Davidson Hall, Ann Arbor, MI 48109-1234.

If you sit here, you probably do most of the coaching.

But who coaches you?

-CoachE X E C U T I V E C O A C H I N G A N D A D V I S I N G

A New Option for Executive DevelopmentMichigan now offers executive coaching and advising servicesfor individuals and teams. M-Coach services are designedto support executives at various levels of the organization,from high-potential middle managers to the CEO. M-Coachesare among today’s most acclaimed thought leaders, and haveextensive experience in advising and developing executiveson a global basis.

Services are offered across four broad categories:

Strategy Coaching and Advising for CEOs and Senior Executives Today, expectations of CEOs and senior executives are enormous, and the time frame for producing results has all but collapsed. As senior leaders develop new competitivestrategies, having a trusted partner and advisor becomesessential for their success. M-Coaches help leaders andtheir senior teams navigate a wide array of business challenges, such as mergers and acquisitions or changes in corporate strategies.

Unlike a strategy consultant who may press a generic modelof competition on an organization, the M-Coach partnersdirectly with the CEO and senior team to build a strategy fromwithin. Throughout the deployment process, this guidance andsupport helps leaders focus on both their own professionaldevelopment and that of their employees.

Executive CoachingNever before have organizational expectations been so highfor how executives deliver their objectives. Our M-Coachesutilize the Best-Self Feedback tool, a highly lauded exercisegrounded in Michigan’s Positive Organizational Scholarshipresearch. Working one-on-one with our experts, executivescan learn what kinds of work situations elicit their best performances and unlock unknown potential to improve productivity and performance.

Executive Team Coaching This service helps develop the managerial and leadershipskills required to create and promote high-performing executiveteams. Coaching sessions focus on diagnosing and improving

team effectiveness, developing strategies for effective groupdecision making and using teams to manage change.

Coaching WorkshopsMichigan offers custom-designed, multi-day coaching sessionsthat can be delivered at your location. These programs arefor managers with wide-ranging responsibility for engagingpeople, and who wish to build coaching strategies and skillsto develop other leaders.

Sara Patel Tel 734.763.1009Associate Director Email [email protected]

www.execed.bus.umich.edu


Alumni Network Update

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Now you can easily update your contact information online via iMpact! Go to http://www.bus.umich.edu/Profile.

You will need your login name and password to access the site—if you need a login name and password, please contact Development and Alumni Relations at [email protected].

NETWORKING CODES—To get connected with alumni and students, please identify your networking codes. Select one function and one industry code.

FUNCTION___ Accounting___ Buying/Purchasing___ Computer/Management Info. Systems___ Consulting-General___ Consulting-Info. Technology/System___ Consulting-Internal___ Consulting-Operations/Process___ Consulting-Strategy___ E-Commerce___ Engineering Management___ Entrepreneur___ Finance-Commercial Banking___ Finance-Corporate___ Finance-General___ Finance-Investment Banking

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INDUSTRY Manufacturing___ Aerospace___ Agribusiness___ Auto./Trans. Equipment___ Chemicals___ Computer/Electronics___ Construction___ Consumer Goods___ Diversified Manufacturing___ Engineering Design___ Energy/Petroleum/Minerals___ Healthcare Products___ Machinery & Equipment___ Metals/Metal Products___ Paper/Wood/Glass___ Pharmaceutical/Biotechnology___ Rubber/Plastics___ Textiles

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Software Services___ Consulting/Research___ Education___ Entertainment/Leisure___ Environmental___ Finance-Commercial Banking___ Finance-Insurance___ Finance-Investments___ Finance-Services___ Finance-Venture Capital___ Government-Federal___ Government-International___ Government-State/Local___ Healthcare

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Please take a moment to respond to the information on the following page.

Keep your contact information up to date withDevelopment and Alumni Relations. Connect withyour classmates and ensure you receive allBusiness School correspondence, including oure-newsletter MichiganMail.

Development and Alumni RelationsUniversity of Michigan Business School701 Tappan St., Ann Arbor, MI 48109-1234Phone: 734.763.5775 Fax: 734.615.6103E-mail: [email protected]

I consent to posting the information I have provided in the Alumni Directory, on my password-protected class Web site (if one exists)and in Dividend magazine.___ E-mail contact information___ Business contact information___ Home contact information



Alumni Network UpdateName:

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next reunion.

___My company may be willing to sponsor a reception/event for alumni or prospective students.

___I am willing to advise the followinggroups regarding the Business Schoolexperience and/or career opportunities(please check all that apply). I understand that my e-mail, home andbusiness contact information may bereleased for this purpose.___ Prospective students___ Current students___ Alumni

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Share your news…and send a photo to DividendWe would like to include more news about alumni in Dividend and hope you will help us by providing us with information about yourself. We’d like to know where you areworking and other news about you, such as promotions, new business ventures, anybusiness or academic honors, authorship of books or articles, or other information thatwould be of interest to alumni.

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Please write below some personal or business news about yourself that we can share withother alumni.

FAX to Dividend, 734.647.2401, or e-mail to [email protected] news and photos to: Dividend

0253 Davidson HallUniversity of Michigan Business School701 Tappan StreetAnn Arbor, MI 48109-1234

Dividend


Your Business Schoolclassmates want tohear from you!

Please take the time torespond in one of these fastand easy ways:

MAIL Fill out all or part ofthe forms on the previoustwo pages and mail in theenvelope included in thismagazine.

FAX You can also fax theforms to 734.646.2401.

E-MAIL Our address [email protected].

There are better waysto stay in touch!

OnaRoll In addition to being the topbusiness school in the nationaccording to the 2005 Wall

Street Journal / Harris Interactivesurvey, the Stephen M. RossSchool of Business rates highlyamong companies hiring minori-ties (No. 1), providing women job

701 Tappan StreetAnn Arbor, Michigan 48109-1234

candidates (No. 7) and in such aca-demic specialties as marketing(No. 2), operations management(No. 4), corporate strategy (No. 7)and accounting (No. 9).

Journal reporter Ron Alsop sum-med it up: “Michigan is on a roll.”

D.C. GOINGS

ON THE COVER: Stephen M. Ross met with BBA students, left to right, James Kempa, Christine Hayes,Nathan Suh, Amy Borer, Juli Gilliam, IkedichiNwankwo and Nancy Stano on September 9.Photograph by Steve Kuzma

NONPROFITORGANIZATIONU.S. POSTAGE

PAIDANN ARBOR, MIPERMIT NO. 144

fall 2004 - university of michigan

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