McDonough Business

Spring/Summer 2004

Competitive Edge
Case Competitions Enhance Skills

Leadership
Reena Aggarwal
Interim Dean
J. Keith Ord
Dean of Faculty
David L. Garrison
Associate Dean and Director
Undergraduate Programs
Marilyn A. Morgan
Associate Dean and Director
MBA Program
Lisa A. Kaminski
Assistant Dean and Director
International Executive MBA
and Executive Education
Virginia N. Flavin
Chief of Staff
Michael T. Boyd
Director of Development
Linn Donaldson (IEMBA98)
Chief Financial Officer
John H. Carpenter
Chief Technology Officer
Robert P. Johnson
Director of MBA and IEMBA Alumni
Programs and Volunteer Board Relations
Board of Advisors
chair
John J. (Hap) Fauth, IV (B67)
President & CEO, The Churchill Companies
vice chair
Robert H. Steers, (B75)
Chairman, Cohen & Steers Capital
Joseph Amato (B84)
Head of Global Equity Sales, Lehman Brothers
Doreen Amorosa (B79)
Director, Talent Acquisition, Avaya Inc.
Robert L. Andrews (B68, L71)
Partner, Vincent Andrews Management Corp.
James Atwater (B85)
Senior Vice President/Branch Manager,
McDonald Investments
Thomas L. Bindley (B65)
President, Bindley Capital Corporation
Alison Lohrfink Blood (B81)
John D. Bowlin (B72)
Former CEO, Miller Brewing Company
James J. Buckley
Practice Leader, Technology & Communications,
Spencer Stuart Consulting
Marilouise Burns (B80)
General Zone Manager, Lincoln Mercury
Division, Ford Motor Company
Gerald T. Cameron (B77)
Former COO, Ibis Technology Corp.
Emily Chen Carrara (B88)
Michael L. Chasen (MBA95)
CEO & Co-Founder, Blackboard Inc.
Jerome J. Claeys III (B65)
CEO & Chairman, Heitman Capital
Management
Michael J. Connelly (B74)
Managing Director, The Carlyle Group
Peter Crnkovich (B78)
Managing Director, Morgan Stanley
Peter S. Croncota (B83)
Senior Managing Director, Bear, Stearns,
& Company, Inc.
Alberto de la Cruz (B89)
President, Coca-Cola Bottlers, Puerto Rico
William H. Diamond, Jr. (MBA83)
President, Technology Growth Partners
William T. Divane (B64) William I. McInnes, S.J. Bruce Hall
Chairman & CEO, Divane Brothers Chaplain, Boston College Executive Vice President & COO, PETCO
Electric Company Susan Hall
C. Allen Merritt, Jr. (B62)
Donn Dolce (B67) Partner, Boston International Capital Robert Kushner
Senior Vice PresidentInvestments, Partners, LLC Managing Partner, Kushner, Smith, Joanou
Paine Webber Investments & Gregson, LLP
Lorraine A. Montero (F68)
Karen Kushner
James Eisenstein (B80) Managing Director, Emerging Market Region
Chairman and CEO, Optasite, Inc. HeadLatin America, Citibank N.A. Max L. Lukens
President and Chief Executive Officer,
Alfred J. Fisher, III (B70) Ellen Morrell (B66)
President, Fisher and Company Vice President & Principal Broker,Washington
Stewart & Stevenson
Chris S. Lukens
Fine Properties, Sothebys International Realty
Lawrence P. Fisher, II (B82)
Sanford Miller
Senior Vice President, US Trust Company Patricia Mulvaney-Pignataro (B81)
Chairman & CEO, Budget Group, Inc.
Partner, PricewaterhouseCoopers, LLP
Michael R. Fisher (B80) Mary Kelly Miller
President, Fisher Dynamics Corporation Robert B. Nolan (B74)
Greg Palmer
CEO and Managing Partner, Hayward
Kristin M. Fletcher (MBA84) President & CEO, Remedy Temp
Capital Fund
Chairman and CEO, ABN-AMRO, Inc. Sally Palmer
Daniel J. OConnor
Theodore Francavilla (B74) Thomas Siebert
President & CEO, Paragon Computer
Senior Vice President, JPMorgan Chase Bank Attorney, Patton Boggs, LLP
Professionals, Inc.
Debbie Siebert
Christopher P. Franco (B81)
Warren Olsen (B78) Director of Business Development, NEWgame
President, Rock Point Investment Partners
Chairman and CEO, First Western Communications
Mark G. Frantz (B69) Investment Management
Thompson M. Swayne
Chairman, Frantz Medical Group
Gregory Palmer Executive Vice President, JPMorgan Chase
J. Richard Fredericks (B68) CEO, Remedy Temp Susan Swayne
Chairman, Dionise Capital, Inc.
Charles Palmer (B64) Robert F. Woods
Jacques P. Gelardin (B69) Managing General Partner, North American Treasurer & Vice PresidentFinance,
Principal, Gelardin & Co., LLC Company, LLLP IBM Corporation
Mary Gene Woods
Bernardo A. Giacometti (B77) Elaine Pochtar (B79)
President, Kipany Brazil Executive DirectorInstitutional Fixed Martin E. Zweig
Income Sales, Morgan Stanley Zweig Companies
Michael J. Gibbons (C60)
Barbara Zweig
Managing Director, JPMorgan Chase & Co. David Reyes (L82)
President, Harbor Distributing, LLC Mollie Zweig
Carol A. Grefenstette (B78)
Managing Director, Strategic Investment Group Andrew Sachs (MBA96)
President, Bethany Partners, LLC
Saadadeen R. Hariri (B92)
CEO, Saudi Oger, Ltd. Charles F. Sarkis (B62)
Volume 16 Number 1
Chairman & President, Back Bay Restaurant
Michael E. Heisley, Jr. (B86)
Group, Inc.
Executive Vice President, Heico Companies
Ann Misiaszek Sarnoff (B83) Editor
Peter W. Henderson, Jr. (B81)
Chief Operating Officer, WNBA Jessica A. Botta
Vice President, Fleet-Meehan Specialists Director of Communications
Raymond Schuville
James F. Higgins (B70)
Managing DirectorJPMorgan Private Bank,
Senior Advisor, Morgan Stanley
JPMorgan Securities Inc. Contributing Writers
Paul J. Hill (B67) Danielle V. Bernstein (IEMBA04),
John Spirtos (L92, IEMBA00)
President, Harvard Development Inc. Elizabeth Franzino, Peter P. Gasca (MBA03),
General Partner, OCG Ventures, LLC
William Hoefling Tom Price, Eman Quotah
Thomas T. Stallkamp
CEO & Managing Partner, Chrystal Pond
Vice Chairman & CEO, MSX International
Capital Partners, LLC
Timothy P. Tassopoulos (MBA83) Editorial Assistance
A. Lincoln Hoffman, III (B65)
Senior Vice President, Chick-fil-A, Inc. Michelle K. Adams (G04),
Former Executive Managing Director, Anne M. Glenzer
Global Relationship Banking, Citibank Michael A. Todman (B79)
Executive Vice President,Whirlpool Corporation,
George R. Houston (B61)
President Emeritus, Mount Saint Marys College
and President,Whirlpool Europe Photography
and Seminary Charles M. Trunz, Jr. (B75) Lisa Helfert, Jon Golden, Phil Humnicky,
Chief Administrative Officer, North Shore Cable Risdon, Lars Tray
Lee C. Howley (B70)
Health Systems
Owner & President, Howley Bread Group
Edmond D. Villani (C68) Designer
Richard E. Joyce, Jr. (B74)
Vice Chairman, Deutsche Asset Management Nancy Van Meter
Managing Director, Merrill Lynch
Stanley Wood
Arlen Kantarian (B75)
President, Integrated Business Information Printing
Chief ExecutiveProfessional Tennis,
Systems, Inc. DeLancey Printing
U.S. Tennis Association
Kenneth J. Kencel (B81)
Head of Leveraged Finance, Royal Bank
Parents Advisory Council
McDonoughBusiness welcomes inquiries,
of Canada co-chairs opinions and comments from its readers.
Ronald W. Tysoe
Gerard M. Kenny (B71) Correspondence should be addressed to:
Vice Chairman, Federated Department Stores, Inc.
President, Kenny Construction Company
Arleigh Tysoe
Lisa S. Kleinknecht (MBA99) The Editor
Principal/Corporate, Kleinknecht Electric Joseph F. Berardino McDonough Business
Company Former CEO, Andersen Worldwide The Robert Emmett McDonough
Gail Hamilton
Daniel K. Lahart, S.J. (B83)
Vice President of Advertising, Promotion & School of Business
President, Strake Jesuit College Preparatory
Publishing, McCall Butterick & Vogue Patterns Georgetown University
School Box 571147
Lloyd R. Cunningham
Catherine Lawton (B79) Washington, DC 20057-1147
President, Cunningham & Associates, P.C.
Principal & General Counsel, Sandler ONeill
Susie Cunningham phone (202) 687-4080
& Partners L.P.
Donald J. Dawson, Jr. fax (202) 687-2017
Jonathan R. Lynch (B88)
Cofounder & Chairman, Payroll 1 Inc. email jab92@georgetown.edu
Partner, JPMorgan Partners
Mary Jo Dawson web www.msb.georgetown.edu
John Maier (B86) Director of College Placement, Academy of
Managing Director, Legacy Partners Group, the Sacred Heart
LLC Alumni should send address
Dan A. English
Philip A. Marineau (C68) Executive Vice President & Director, changes/additions/deletions to
President & CEO, Levi Strauss & Co. Puffer-Sweiven, Inc. addup@georgetown.edu,
Kay English contact Alumni Records at
Robert E. McDonough (F49)
(202) 687-1994, or update at
Founder & Vice Chair, Remedy Intelligent James Hackett
Staffing Chairman & CEO, Ocean Energy, Inc. www.georgetown.edu/alumni
Maureen Hackett
 Spring/ Summer 2004

McDonough Business

Features
Competitive Edge 17
Case Competitions Enhance Skills

Reaching Out, Giving Back 20

IEMBAs Launch New Initiatives to Increase Engagement

Departments
Upfront 3 Corporate Profile 22
America Online, Inc.
In the Media 10
Faculty, Students and Alumni Dividends 24
Cited in the News Building for the Future

Intellectual Capital 13 Alumni Notes 25

Faculty News Alumni News, Profiles and a Special Report
on MBAs in the Middle East
Faculty in Focus 15
Robin L. Dillon-Merrill Bellwether
Robert H. Steers (B75)
Prospectus 16
The European Prayer of St. Augustine

Cover art by Art Valero

Images.com/CORBIS

McDonough Business is
published twice a year.
The magazine is distributed
free of charge to more than
17,000 students, alumni,
parents, faculty, staff and
other friends. The diverse
views in the magazine do
not necessarily reflect the
opinions of the editor or
official policies of
Georgetown University
or the McDonough School
of Business.
welcome
McDonough School calendar
2004
September
1 First Day of Classes

10 MBA Careers Extravaganza (MBA Career Management)

14 Careers Serving Others Information Session

(MBNA Career Education Center)

October
1 CareerQuest 2004 (MBA Career Management)

7 Womens Leadership Initiative

Dear Friends: Academic Research Forum

7 10 Hoya Homecoming
The future of the McDonough School of Business remains
8 Board of Advisors Meeting
bright. Fund-raising for a new building dedicated to the school
15 Career Fair 2004 (MBNA Career Education Center)
on the Georgetown campus is making excellent progress.
20 23 International Business Challenge Case Competition
When completed, that building will make possible a broad (Austin, Tex.)

variety of new programs and opportunities for growth for the 21 22 National Society of Hispanic MBAs Conference
(Fort Worth, Tex.)
school. As we go to press, the search for a new dean for the
22 Parents Advisory Council Meeting
McDonough School continues. In a hotly competitive market,
22 24 Undergraduate Business Day/Parents Weekend
we are committed to identifying the person who will best
25 29 MBA Fall Career Week/Treks
embody the spirit of responsible engagement for which the
McDonough School and Georgetown stand. In the meantime, November
the school continues to move forward with undiminished 46 Global MBA Conference (Orlando, Fla.)

energy. I am grateful to John Mayo and his colleagues for the 56 Graduate Women in Business National Conference
(University of Virginia)
work we have accomplished in these last years.
11 14 Net Impact Annual Conference (Columbia University)

December
13 21 Exams

January
37 MBA Winter Career Week/Treks
James J. ODonnell, Ph.D. 12 First Day of Classes

Provost
February
24 Government and Nonprofit Career Expo
(MBNA Career Education Center)

See pages 8 9 for a listing of MBA and IEMBA admissions events

around the world. Check the schools online calendar of events at
http://msb.georgetown.edu/news_events for daily event listings.

2 McDonough Business
upfront
Provost Names Interim Dean,
Reconstitutes Dean Search Process
rovost James J. ODonnell
P is working with faculty
create a new search
process to find a permanent
leader for the McDonough School of
Business. Last years search process did not
result in a new dean and former dean John
W. Mayo is returning to the faculty this fall.
Until a permanent leader is named, Profes-
sor Reena Aggarwal will serve in an interim
capacity as dean of the school. I am confi-
dent that we will be able to secure a new
leader for the school who will be dedicated
to recruiting and retaining superb members
of the faculty, creating an outstanding new
home for the school,
ensuring the excellence of our educational
programs, and establishing Georgetown as
a premier institution for business education
in our changing and competitive global
business environment, said ODonnell
in an email to business school faculty earlier
this summer.
McDonough School Delivers
Custom Insights to U.S. Chamber
of Commerce Executives
he Office of Executive Education
T has delivered a three-month custom
executive leadership program to sen-
ior staff of the U.S. Chamber of Commerce
from January to March 2004, garnering an
overwhelmingly positive response from the
Chamber, according to Lisa A. Kaminski,
assistant dean and director of executive edu-
cation. Associate Professor Paul Almeida,
Professor Robert J. Bies, Assistant Professor
Brooks C. Holtom, and Assistant Professor
Edward Soule delivered sessions on strategic
analysis and planning, marketing and mem-
ber relations, leadership and project finance
and budgeting, management communica-
tions and negotiations.
Mayo and Mendoza
McDonough Forges New Alliance
with ESADE
cDonoughs Office of Executive
M Education and Spains ESADE
Business School are offering a
joint open-enrollment, non-degree program,
the Georgetown-ESADE Executive Educa-
tion Series on Global Management. The
series began with a three-day Global Strat-
egy Program offered in ESADEs Madrid
and Barcelona campuses in May and June.
Associate Professor Paul Almeida directed
the program, along with faculty members
from ESADE.
This alliance represents a confluence of the
unique and mutual strengths of Georgetown
and ESADE, said former dean John W.
Mayo. We believe our joint venture pro-
vides a model for the kind of international
partnership that can exist between business
schools to provide a rich educational experi-
ence for students and productive exchanges
for faculty.
The schools formalized their alliance with a
signing ceremony in March when the deans
of ESADE and the McDonough School
met in Barcelona. The schools are discussing
ways to broaden the partnership, including
offering a Washington, D.C. residency for
ESADEs EMBA students during the sum-
mer.
AACSB Extends McDonough
School Accreditation
he Association to Advance Collegiate
T Schools of Business (AACSB) has
extended business accreditation to
the McDonough School and its undergraduate
and masters programs for another six years.
As part of the process, the school hosted the
deans of the University of Chicago Graduate
School of Business and Washington Univer-
sity in St. Louis Olin School of Business,
who commended the McDonough School
for a variety of accomplishments, including
its strong sense of community, the quality of
its students and their level of engagement with
the school, the efforts toward penetrating
the Washington, D.C. market, the effective-
ness of the Technology Center, and the
global mobility of graduates.
The McDonough Schools undergraduate
program was first accredited by the AACSB
in 1983 and the full-time MBA program
in 1987. The AACSB is
a not-for-profit organi-
zation made up of
educational institu-
tions, corporations and
other entities devoted
to the promotion and
improvement of higher education in business
administration and management.
MBA Program Falls in U.S. News
Ranking
he April 12 issue of U.S.News &
T World Report ranked the Georgetown
MBA program 33rd, a drop from last
years 24th. The U.S. News ranking is based
on a number of factors, including quality
assessments by deans, program directors
and corporate recruiters, placement success,
and student selectivity.
The programs student selectivity measures,
such as GMAT scores and GPA, were
comparable to the previous year, but the
acceptance rate increased by slightly more
than four percent. Additionally, while the
peer assessment remained flat, the recruiter
assessment dropped. The unsurpassed job
placement rates of a number of smaller
programs, which exceeded 90 percent at
McDonough Business 3
graduation, coupled with a decrease of nearly
$8,500 in the average starting salary of McDo-
nough graduates, were largely responsible for
the drop in Georgetowns ranking.
Former dean John W. Mayo said that
despite the drop in this particular ranking,
the school made some significant progress.
The percentage of graduates employed at
three months after graduation
increased from 77.3 percent for
the class of 2002 to 83.2 per-
cent for the class of 2003.
This placement success at
three months after gradua-
tion ranked 11th compared
to U.S. News top 20 schools,
and put the Georgetown MBA
ahead of Northwestern (5), Berkeley (8),
Duke (11), Michigan (10), UCLA (12),
Darden (12), Carnegie Mellon (17),
Yale (14), NYU (14) and Emory (19).
The U.S. News ranking came just a few
months after the MBA program achieved
the highest ranking in its history, at 12th in
the United States and 17th in the world in
the January 20 Financial Times.
Tech Center Takes Leadership Role
in New Roundtable
cDonough School Chief Tech-
M nology Officer John Carpenter is
leading the schools participation
in a new organization affiliated with the
Association to Advance Collegiate Schools
of Business and Educause, a nonprofit asso-
ciation that promotes the intelligent use of
information technology in higher education.
Carpenter serves on the board of Technol-
ogy in Business Schools, a roundtable of
technology officers from leading U.S. busi-
ness schools. The roundtable held the first of
two meetings this year in June in Minneapolis.
Participation in this group should have
advantages for all McDonough School tech-
nology users, said Carpenter, who in addi-
tion to serving on the board, heads TBS
working groups on new construction and
ubiquitous computing. Rather than gener-
ate our own experience through trial and
error, we will be able to learn from other
schools who are traveling the same path.
TBS is a cooperative organization designed
to share experience.
The roundtable has projects supporting a
knowledge base for student computing,
hardware support and other current issues.
4 McDonough Business
The Georgetown MBA Auction in
Copley Formal Lounge
MBA Nonprofit Internship Auction
Raises $12,000
n February 20, the McDonough
O School inaugurated a new
traditionthe Georgetown MBA
Auctionorganized by rising second-year
MBA students Tania Galarza and Andy
Furrows. The $12,000 raised from the auction
benefited the Nonprofit Internship Fund,
which provides stipends of $3,000 to MBA
students who conduct summer internships
with nonprofit organizations.
Georgetown, because of its commitment to
social justice, attracts MBA students with a
strong sense of business ethics, corporate
social responsibility and community involve-
ment, said Marilyn A. Morgan, associate
dean and director of the MBA program.
The Nonprofit Internship Fund is one way
we can help students bring their business
leadership skills to benefit the nonprofit and
public sectors. It speaks to the essence of
what Georgetown stands for.
Held in Copley Formal Lounge, the auction
offered 65 donated items for bid that ranged
from a haircut to a weeks stay at a beach
house near Puerto Vallarta. Professor
Ricardo Ernst and Assistant Professor Lee
F. Pinkowitz served as auctioneers for the
event, which featured both live and silent
bidding formats. Contributions were made
by 15 local businesses, nearly 30 students, two
McDonough School departments, six student
clubs, and more than a dozen faculty members,
including a generous matching contribution
from Executive Professorial Lecturer Kenneth
E. Homa and his wife, Kathy.
While the Nonprofit Internship Fund is in
its fourth year, the auction is the schools first
attempt to increase the funds endowment.
Participation at Record High
in Mentor Program
he Mentor Program for undergradu-
T ates, launched 15 years ago by former
associate dean Ann-Mary Kapusta,
reached a new milestone in participation
during academic year 20032004. The pro-
gram served 210 students, its highest num-
ber ever, and enlisted 45 local alumni. The
Mentor Program links current students with
practicing business leaders in the Washing-
ton, D.C., area, providing them with expo-
sure to the day-to-day responsibilities and
challenges presented in many different
fields. Board of Advisors member Ellen
Morrell (B66) hosts the mentors and stu-
dents for a program kick-off dinner at her
home each spring.
In addition to the alumni mentors, Kapusta
says, 80 student advisers are also assigned
over the summer to incoming first-year stu-
dents. The student advisers help incoming
students get plugged in to Georgetown both
academically and socially, Kapusta said.
McDonough School Receives
$1.7 Million Software Grant
SAP America Inc., a subsidiary of German
software giant SAP, has agreed to donate
nearly $1.7 million in software and support
services to the school over a two-year period
as part of its Education Alliance Program.
SAPs software packages help manage
various business functionsincluding
human resources, production, sales and
marketingunder one system.
SAP is one of the most important software
programs used by corporations today, said
Professor Ricardo Ernst, who will use the
program in his graduate global logistics course
this fall. SAPs widespread use means that
understanding the software will give McDo-
nough School students an edge when they
enter the job market, said Visiting Assistant
Professor Betsy Page Sigman, who is the
faculty adviser for the undergraduate opera-
tions and information management major.
Sigman, Ernst and Professor Robert J. Thomas
say they will use the SAP software to teach
business fundamentals such as understanding
how companies operate, using and building
databases, and managing relationships with
customers.
upfront
Heather D. Wallerson (B04), Kathryn-Ann
Bloomfield (B04) and Kristen Farren (B04) meet
fashion entrepreneur Lana Marks.
Womens Leadership Initiative
Hosts First Distinguished
Speakers Series
he Georgetown University Womens
T Leadership Initiative held its first
Distinguished Speaker Series panel,
sponsored by the Citigroup Foundation,
on April 19 in Riggs Library. The three
panelists, Lisa Caputo, president and CEO
of Women and Company, and managing
director of business operations and
planning for Global Consumer Group,
Citigroup, Inc.; Barbara Landes, CFO of
the Public Broadcasting Service; and Lana
Marks, founder and CEO of Lana Marks,
Inc.; shared their varied experiences in the
workplace with the 100 students, faculty,
staff, alumni and friends in attendance.
The Womens Leadership Initiative, and
particularly this panel, taught me how impor-
tant it is for women to have role models,
said Kristen Farren (B04).
In addition to another panel in November,
Executive Director and Associate Professor
Catherine H. Tinsley is planning a new
academic research forum as a complement
to the speaker series. Tentatively scheduled
for October, the forum will bring together
academic and professional knowledge
regarding women in the workplace.
Aspiring Entrepreneurs Visit
Campus for Memorial Summit
ore than a dozen Georgetown
M MBA students and alumni col-
laborated with the Walter Benson
Foundation and the National Foundation for
Teaching Entrepreneurship (NFTE) on
February 13 to host the 6th Annual Walter
Benson Memorial Summit in Entrepreneur-
ship. The summit brought 30 students from
three high schools in Prince Georges County,
Md., to the Georgetown campus for presen-
tations and workshops conducted by MBA
students and professional entrepreneurs,
including Rod DeVar, manager of advertising
at the U.S. Postal Service; Michael Brown,
managing partner at Alcade & Fay; Steve
Goldenberg, president of Interfolio; and
Michelle Campbell-Evans, assistant director of
academic services at Georgetowns Center for
Minority Educational Affairs.
The summit memorializes former Georgetown
professor and international entrepreneur
Walter Benson, who, before his death in 1997,
became passionately involved in NFTEs
service program in the District. Robert M.
Coppedge (C97) and Christopher P. Caudill
(B97), launched the Walter Benson Foun-
dation in 1998 to underwrite on-campus
summits devoted to teaching young people
business skills. Coppedge and Caudill part-
nered with Eric Wright (F01) and volunteers
from the Georgetown MBA program, led by
rising second-year MBA student Candice U.
Wu and Jennifer R. Blackmon (MBA04),
to organize this years summit.
Georgetown MBA volunteers and NFTE participants
MBAs Launch Nonprofit Board
Fellows Program
ising second-year MBA students
R Krista L. Van Tassel, Tiffany A.
Tomaszewski and Paul J. Zurawski
founded the Georgetown Board Fellows
program, an apprenticeship program in which
Georgetown MBA students are matched with
Washington, D.C. area nonprofit boards.
Each fellow serves for one year as a non-
voting member of a nonprofit board and
actively contributes to its work by conducting
a real business project, participating on a
working committee or leading an ad hoc
study. Each fellow is assigned a mentor to
assist them in orienting to the board. Fellows
and boards are selected and matched
through a careful and competitive process.
Our goal is to provide students with ways
to continue life-long service in the nonprofit
sector, Van Tassel said. The program is part
of the Net Impact organization in the
McDonough School.
Students and boards applied in the spring
for the 2004 Board Fellows Program, and
the founders assigned the fellows to boards
at a variety of nonprofits, including those
involved in peace and human rights, com-
munity-supported agriculture, womens
prison and post-prison support programs,
and multicultural child and family education
and development.
We are very proud of the program and are
looking forward to a successful first year,
Zurawski said.
McDonough Business 5
McDonough School Supports
New Safety Award
he Center for Business and Public
T Policy is a global partner supporting
the Robert W. Campbell Award for
Business Excellence through Safety, Health
and Environmental Management, which is
sponsored by the National Safety Council and
underwritten by ExxonMobil Corporation.
According to the Centers director, Professor
N. Lamar Reinsch, Jr., McDonough School
faculty members will serve on the interna-
tional review panel of experts who will eval-
uate award applicants for measurable safety
and health achievements linked to productiv-
ity, profitability and other important business
indicators.
Our participation as a supporter of this
award is one of the ways in which the Center
can work cooperatively with industry to
facilitate an active dialogue on safety and
health issues, Reinsch said. The Campbell
Award will help us identify best practices
and make the business case for safety in the
workplace.
Robert W. Campbell was an executive of
one of the nations largest steel manufacturers
in the early 20th century. An advocate for
accident prevention, he served as the first
president of the National Safety Council.
The first award recipient is expected to be
announced in September.
Undergraduates Honored for
Community Service
ean Garrett (B04), rising senior Sab-
S rina-Phuong Nguyen and Kirk Syme,
Jr. (B04) are among the 20 recipients
of the Universitys Lena Landegger Com-
munity Service Awards, in the amount of
$2,500 each, for their distinguished contri-
butions to community service. The awards
were announced in April.
Garrett, an accounting major, served as pres-
ident of Georgetowns service fraternity,
Alpha Phi Omega, site leader for community
service day, and coordinator of Georgetowns
community outreach clean-up project.
Nguyen, a finance major, is co-founder and
executive director of the William Gaston
Foundation for Behavioral Healthcare,
6 McDonough Business
which provides financial medical subsidies
and mentoring services to Washington, D.C.,
families whose children are diagnosed with
mental health disorders. She also tutors local
high school students.
Syme, an accounting major, served as grand
knight of Georgetowns Knights of Columbus
council and helped launch the Catholic
Schools Initiative, in which Knights volun-
teer their time at urban Catholic schools.
He also volunteered at the Northwest
Pregnancy Center, a nonprofit organization
founded by Georgetown students and alumni
John R. Flato
to provide assistance to D.C. women in
crisis pregnancies.
Business Students Honored at Beta Corporate Recruiting Veteran
Gamma Sigma Ceremony Appointed to Lead MBA Career
Management Center
hirty-eight undergraduates, 55
T MBAs, 10 IEMBA students and one
faculty member were honored in
May at the annual Beta Gamma Sigma ini- N
ew MBA Career Management
Director John R. Flato joined the
school in December 2003 after
tiation ceremony in the Bunn Intercultural spending more than 20 years in the private
Center auditorium. The inducting officer sector. Flato led campus recruiting programs
was John R. Mitchell, chief executive officer for CapGemini Ernst & Young, CIGNA and
of fine clothier Mitchells and Richards, and AlliedSignal (now Honeywell).
author of the bestseller Hug Your Customers,
John brings exceptional insight and leader-
The Proven Way to Personalize Sales and
ship skills to the Georgetown MBA program,
Achieve Astounding Results.
said Marilyn A. Morgan, associate dean and
Beta Gamma Sigma is the national scholastic MBA program director. He has the experi-
honor society in the field of business and ence, the contacts, and the professional respect
administration. The societys mission is to required to strengthen and expand the schools
encourage and honor academic achievement relationships with the corporate world.
in the study of business, and personal and
Flato holds a MBA in marketing from
professional excellence in the practice of
Loyola College, a masters degree in higher
business.
education administration from the Catholic
To be eligible for membership, undergraduate
students must place in the upper 7 percent
of the junior class or upper 10 percent of
the senior class, and graduate students must
University of America, and a bachelors
degree in sociology from Washington
College.
During the 20032004 academic year, the
place in the upper 20 percent of the masters
MBA Career Management Office also
degree class.
welcomed former IBM Global Services
executive Randy Cramer as an executive-
in-residence and Colleen C. McClusker
as career adviser.
John R. Mitchell
upfront Corporate Governance Research New Associate Dean and Director
Honored with Finance Award for Undergraduate Programs

Executive Education Welcomes ssociate Professor Rohan G. eorgetown University Provost

New Staff Members

eidi Faill, who joined the Office of

A Williamson and Assistant Professor
Lee F. Pinkowitz received the Journal G James J. ODonnell announced the
appointment of David L. Garrison

H Executive Education in November

2003 as a program manager of cus-
tom executive education programs, has been
of Financial and Quantitative Analysis 2004
William F. Sharpe Award for Scholarship in
Financial Research. The award was given in
honor of Williamson and Pinkowitz paper,
as the McDonough School of Business asso-
ciate dean and director of undergraduate pro-
grams, effective September 1. Garrison will
succeed Ann-Mary Kapusta, who in April
named associate direc-
Corporate Governance and the Home Bias announced her decision to retire after more
tor of the IEMBA
(March 2003), which they co-authored with than 20 years at the university. Garrison
program. Prior to join-
colleagues from the Stockholm Institute for comes to Georgetown from the University of
ing Georgetown,
Financial Research and Ohio State University. Tennessee at Chattanooga, where he served
Faill was the MBA
the paper shows how the prevalence of closely- as professor and head of the English depart-
administrative dean for
held firms in most countries helps explain why ment since 2001.
IAE Aix Graduate
these countries exhibit a home bias in share
School of Business at David brings to his new position a ready-
holdings and why U.S. investors underweigh
the University of Aix- made appreciation for integrating the spirit
foreign countries in their portfolios.
Marseille, in France. At Aix she helped and substance of the liberal arts into prepa-
launch a new MBA program, coordinated a ration for professional responsibility in
Business Ethics Journal Earns
European Distance Learning MBA Program businessa hallmark of the Georgetown
Emerald Award
and conducted the EQUIS accreditation education, ODonnell said in a statement.
procedure. usiness Ethics Quarterly, the journal

A
liz Agoston has been named
program manager for Executive
Education. Agoston was a program
B of the Society for Business Ethics, has
been honored with a 2004 Golden
Page Award from Emerald Management
In his new position, Garrison will be respon-
sible for the management and delivery of all
undergraduate programs at the McDonough
School. He will provide leadership on admis-
Reviews, a UK-based publisher and manage-
coordinator for the office from 2000 to sions, curricular development, student advis-
ment abstracting service. BEQ, which is edited
2003, and in her new ing and mentoring, and academic standards.
by Professor George G. Brenkert, received the
position she will be
award for Originality in the General Manage- I am very pleased at this opportunity to
responsible for the
ment category. Other journals cited in the contribute to the work of the university and
maintenance and
same category include the Strategic Manage- especially the work on the McDonough
delivery of all executive
ment Journal, Academy of Management Journal School of Business, Garrison said. I look
programs, courses and
and Harvard Business Review. forward to participating in the ongoing well-
partnerships. Prior to
grounded, well-respected and adventurous
joining Georgetown,
projects within the undergraduate programs
Agoston was a teacher
and in the bigger projects of the George-
and department head at the Budavari Lan-
town University community.
guage School in Budapest, Hungary. She has
also served as a professional translator/inter-
preter and designed distance learning
preparatory courses for high school students.
She is multilingual in Hungarian, English,
Spanish, Russian and Latin. Hiring? Think Georgetown.

If you are recruiting for internships or full-time positions, hire a Hoya.

For MBA students contact John Flato
in the MBA Career Management Center, at (202) 687-3745 or
jrf28@georgetown.edu.
For undergraduates, contact J. Michael Schaub
in the MBNA Career Education Center at (202) 687-6288 or
jms46@georgetown.edu.

McDonough Business 7
mba/iemba class of 2007 recruiting schedule

MBA NORTH AMERICA

Recruiting for the Atlanta, Georgia: September 28, November 15

Austin, Texas: October 6
MBA class of 2007
Boston, Massachusetts: September 21, November 11, December 7
is underway. Charlotte, North Carolina: November 29
If you are a Chicago, Illinois: September 23, December 6
Georgetown MBA Cleveland, Ohio: November 3
alumnus interested Dallas, Texas: October 4
Denver, Colorado: October 28
in helping shape the
Detroit, Michigan: October 21
next class, we hope Houston, Texas: October 7
you will choose to Indianapolis, Indiana: November 1
attend one of our Kansas City, Missouri: September 13, October 13
recruiting events Los Angeles, California: September 12, January 17, January 20
Miami, Florida: September 17, December 2
around the world.
Milwaukee, Wisconsin: October 20
For more information, Minneapolis, Minnesota: October 18
please contact the New York, New York: September 19 (with IEMBA), November 13, December 8, January 12
MBA Admissions Office at Philadelphia, Pennsylvania: September 20, November 18, December 5
mbavisit@georgetown.edu. Phoenix, Arizona: October 25
Pittsburgh, Pennsylvania: November 4
Raleigh, North Carolina: November 16
Salt Lake City, Utah: October 27
IEMBA San Diego, California: November 11
San Francisco, California: September 14, November 9, January 18, January 19
Information sessions for the Seattle, Washington: November 8
International Executive MBA St. Louis, Missouri: September 12, October 12
program are held twice a Tampa, Florida: December 1
month in the Car Barn. Toronto, Canada: September 26
Washington, D.C.: September 30 (with IEMBA), November 17, January 10
September 21
October 6, 19
November 10, 18
December 1, 14
January 6, 19, 2005

IEMBA alumni are welcome to

help host our evenings with
L AT I N A M E R I C A
prospective students. For those
Buenos Aires, Argentina: September 3, October 21
alumni working for companies
Caracas, Venezuela: September 8
interested in sponsoring
Lima, Peru: September 6
employees for this highly- Mexico City, Mexico: September 10, October 14
ranked program, IEMBA Monterrey, Mexico: August 28
recruiting staff also make pre- Rio de Janeiro, Brazil: October 27
Santiago, Chile: September 1, October 20
sentations on-site. For more
So Paulo, Brazil: August 30, October 25
information, call (202) 687-2691
or email msb-iemba@msb.edu.

See a full list of IEMBA

information sessions and
recruiting events at
http://msb.georgetown.edu/exec_ed/executive_mba/info_sessions.htm

8 McDonough Business

WESTERN EUROPE
Brussels, Belgium: October 7
Frankfurt, Germany: October 16
London, United Kingdom: October 18
Madrid, Spain: October 5
Milan, Italy: October 12
Munich, Germany: October 14
Paris, France: October 9
INDIA AND THE MIDDLE EAST
Bangalore, India: November 23, January 29
Cairo, Egypt: December 2
Dubai, United Arab Emirates: November 30, February 3
Mumbai, India: November 25, January 31
New Delhi, India: November 27
CENTRAL EUROPE A S I A PA C I F I C
Athens, Greece: October 22 Bangkok, Thailand: September 27, November 16
Budapest, Hungary: October 26 Beijing, Peoples Republic of China: September 20, November 7
Istanbul, Turkey: October 24, February 5 Guangzhou, Peoples Republic of China: November 11
Moscow, Russia: October 30 Hong Kong, Peoples Republic of China: November 13
Warsaw, Poland: October 28 Kuala Lumpur, Indonesia: November 18
Zurich, Switzerland: October 20 Seoul, South Korea: September 18, November 2
Shanghai, Peoples Republic of China: September 23, November 9
Singapore: September 29
Taipei, Taiwan: September 25
Tokyo, Japan: September 16, November 4
McDonough Business 9
inthe media highlights
AMERICAN ELEGIES
Adjunct Lecturer James P.
Moore, Jr. contributed an op-ed
in the Washington Post (6/6/04)
on the subject of D-Day and
American prayer. As assistant
secretary of commerce under
President Ronald Reagan,
Moore provided commentary
on CNBC during Reagans
funeral and appeared on
CNBCs Squawk Box Tribune (3/25/04) also refer-
(6/11/04) to discuss Reagans
economic policies and interna-
tional economic relations and
U.S. policies during the 1980s.
Additionally, Moore partici-
pated in a series of nationally-
syndicated radio programs on
ABC, CBS and CNN
(6/13/04) discussing Reagans
economic policies.
HIGHER LEARNING
Assistant Professor Patricia F.
Hewlin was featured in the July
issue of Black Enterprise maga-
zine in an article on the bene-
fits of pursuing a career in
academe.
BAGHDAD BOURSE
Professor Reena Aggarwal was
quoted in a Philadelphia Inquirer
article (2/25/04) examining the
challenges facing Ann Exline
Starr, the woman charged with
reinstating the Iraq Stock
Exchange. The article also ran
in the Seattle Times (3/26/04)
and the Miami Herald (3/30/04).
PAYDAY LENDING
Bankrate.com (5/21/04) cited
the Credit Research Centers
2001 study on payday lending
in a story on concerns over the
business practices of payday
lenders. The article also
10 McDonough Business
appeared in the Pittsburgh Post
Gazette (5/31/04), Seattle Post
Intelligencer (5/29/04) and on
Scripps Howard News Service
(5/24/04). The same study was
cited in a Washington Times
article (3/12/04) about new leg-
islation in the state of Georgia
that represents one of the
nations toughest laws against
the cash-advance lending
industry. The San Diego Union
enced the study in an opinion
article arguing the merits of the
lending practice.
TRADE THROUGH
Associate Professor James J.
Angel commented on the cur-
rent trade-through practice on
Nightly Business Report
(2/24/04), discussing the SECs
recent efforts to ensure that
trade-through rules correspond
with what actually transpires as
computerized trades are made.
In a related article in the Wall
Street Journal and on Dow Jones
Newswires, Angel commented,
This is probably the most
important [market-structure]
regulation that the SEC is
working on. The nuances of
this regulation are going to
have a profound impact on the
structure of the U.S. equities
market.
DUAL LISTING
Associate Professor James J.
Angel was quoted in Dow Jones
Newswire
(1/8/04,
4/14/04),
Business
Week
(1/14/04),
the Los
Angeles
Times
(1/13/04),
Newsday (1/13/04), TheStreet.com
(1/13/04), Bloomberg (4/13/04),
and interviewed on the Nightly
Business Report (1/8/04) about
competition in the trading envi-
ronment between NASDAQ
and the New York Stock
Exchange due to the dual listing
program, and the long-term
effect of the listings and the
growth of electronic communi-
cations networks.
DISCRIMINATORY LENDING
A 2002 study by Assistant Pro-
fessor Ken S. Cavalluzzo and a
colleague from the Federal
Reserve, which found that
African-American business
owners were denied credit at
more than two and a half times
the rate of whites, was cited in
a Wall Street Journal (5/20/04)
article on a Justice Department
settlement with a Detroit area
bank accused of discriminatory
lending practices.
SHORT SELLING
Forbes Magazine (2/2/04) refer-
enced a Financial Analysts Jour-
nal study conducted by
Associate Professor James J.
Angel and colleagues from
George Mason University in a
story about how short-selling
can yield big returns.
HIGH FLYER
Professor Reena Aggarwal was
quoted in a Washington Post
article (5/17/04) on Dulles-
based Atlantic Coast Airlines,
which is now operating as low-
cost carrier Independence Air
amid fierce competition.
OVERSEAS IPOS
Professor Reena Aggarwal was
quoted in an article in China
Dailys Business Weekly (3/23/04)
on Chinas growing economic
power, which is increasing
demand for equity funds from
overseas and spurring an over-
seas IPO rush. There are very
few U.S. companies doing IPOs
and so the focus is on interna-
tional companies, particularly
Chinese companies, said
Aggarwal.
TRADING FLOOR TRIALS
Associate Professor James J.
Angel was quoted in the Wall
Street Journal (3/30/04) and
Newsday (3/31/04) about the
chargesand subsequent settle-
mentagainst the New York
Stock Exchange by the Securi-
ties and Exchange Commission
for failing to adequately police
its specialist firms.
RX QUALITY
Assistant Professor Jeffrey
T. Macher was quoted in a
Business Week (5/3/04) article
on pharmaceutical companies
efforts to improve manufac-
turing processes and quality.
Macher and a colleague at
Washington University in St.
Louis are doing research to
find and correct flaws in drug
manufacturing practices and in
FDA regulations.
YOURE FIRED
In a Boston Globe article (4/15/04)
examining how the reality tele-
vision show, The Apprentice,
is perceived by business schools
across the country, Georgetowns
accounting and finance faculty are
reported to be eagerly rehashing
Apprentice episodes in the hall-
ways and have even formed a
pool to guess the winner. In a
related story in Crains New York
Business (2/23/04), Assistant
Professor Lee F. Pinkowitz says
the show offers tremendous
insight into certain intangibles
in business that we really cant
teach, like team dynamics
and ethics.
MBA JOB FRONT
Director of MBA Career Man-
agement John R. Flato was
interviewed in a Baltimore Sun
article (3/14/04) about the
McDonough Schools strategy
to leverage alumni to conduct
mock interviews as opposed to
using an executive search firm.
In an article on job prospects for
college graduates, Flato told
USA Today (4/14/04) that the
number of firms recruiting at
the McDonough School of
Business is up 24 percent from
last year. Flato was also quoted
in a BusinessWeek Online article
(2/3/04) about the importance
of internships as a vehicle by
which to ensure employment
post-graduation.
NEW BREED OF MBA
Rising second-year MBA stu-
dent Stephani K. Stevenson was
featured in an Associated Press
story
(4/12/04)
about the
new breed
of MBA
student;
one who is
interested
in helping
others and
contribut-
ing to society rather than con-
centrating solely on money.
Stevenson said her experience in
the Peace Corps prior to coming
to business school changed
[her] life to see the devastating
effects of globalization, as well
as the ramifications of poor
business decisions. The article
ran in a dozen newspapers
around the county and on at
least 100 news web sites.
OUTSOURCING
In a USA Today article (4/8/04)
outlining IBMs decision to buy
an Indian outsourcing firm and
the effect this will have on jobs
in the United States, Heisley
Family Professor of Global Man-
ufacturing Kasra Ferdows said,
Its almost inevitable that some
of the work is going overseas.
He said that IBM is realizing
that it wants to participate in
the trend of moving jobs to
areas in which labor is cheaper.
CUSTOMER DISSERVICE
In a Washington Post article
(3/28/04) about the decline of
customer service, Associate Pro-
fessor Ronald C. Goodstein
cited poor customer service as
the number one reason cus-
tomers switch brands. Good-
stein faulted call centers that
have no stake in the company
they represent. A sure sign of
problems, said Goodstein, is
when a customer service agent
refers to the company as they
and not we. The article also
appeared in the Milwaukee Jour-
nal Sentinel (4/5/04).
EU EXPANSION
In an op-ed piece in the Japan
Times (4/4/04), Associate Profes-
sor Michael R. Czinkota addressed
the tensions caused by European
Union expansion. Czinkota
argues that the expansion of the
EU will provide more mobility to
the young and not-so-well-off.
He said, There emerges a
tremendous opportunity to enrich
the quality of life of regions as
well as of individuals through
these newly possible moves and
perhaps create a new generation
of innovators and risk takers.
TELECOM APPEAL
Professor John W. Mayo was
cited in Communications Daily
(3/18/04), Telecom Web (3/22/04),
and Telecommunications Report
Daily (3/17/04) on the March
decision by the U.S. Court of
Appeals in the District to
declare illegal key parts of the
Federal Communications Com-
missions unbundling rules for
telecommunications network
services. Mayo was one of 12
economists that authored a
letter urging the Bush adminis-
tration to support an appeal of
the ruling, arguing that it would
harm competition.
ABOUT ETHICS
In a New York Times article
(3/21/04) on the curriculum
changes being made at business
schools in order to incorporate
ethics materials as scandals ripple
through the corporate world,
Christopher W. Andrews
(MBA04) was quoted regarding
the difficult transition between
profit-oriented classes on share-
holder maximization and free
markets and mandatory courses
on ethics. Its an abrupt transi-
tion, a tough way to learn about
ethics, Andrews said.
Assistant Professor Edward
Soule was a panelist on CNNs
The Flipside (1/12/04) about
the extent and impact of corpo-
rate and political corruption and
greed on American society.
Acknowledging the recent wave
of extremely large corporate
failures that impacted millions,
Soule still urged a sober diag-
nosis and argued that public
trust in U.S. business institu-
tions has diminished but not
completely eroded.
ESADE PARTNERSHIP
Coverage of the recently
announced alliance between
the McDonough School and
ESADE Business School to
offer a joint global strategy pro-
gram for managers at ESADEs
Madrid and Barcelona campuses
was featured in La Gaceta de los
Negocios (1/22/04, 3/15/04),
El Pais (2/8/04), Expansion &
Empleo (2/7/04) and Cinco
Dias (1/26/04).
OF MOUSE AND MEN
In an article in Germanys busi-
ness daily, Handelsblatt (3/3/04),
which cited criticism of Disneys
Michael Eisner as leading the
company landlord-style, Associ-
ate Professor James J. Angel
commented that the company
was traditionally not exactly a
shining example of good com-
pany leadership.
ORGANIZING VICTORY
Professor Douglas M. McCabe
was quoted in a Washington Post
article (2/23/04) about the
Hotel and Restaurant Employees
Union Local 25 and its recent
success in unionizing workers at
the State Plaza Hotel.
DRIVING FORCE
Associate Professor of Market-
ing Ronald C. Goodstein was
quoted in a Newsday (2/15/04)
article about marketing strate-
gies among automakers
designed specifically to appeal
to minority groups. Goodstein
identified the potential difficulty
of this strategy. There is no
Hispanic marketplace, he said.
Its made up of different sub-
groups that happen to have the
same language and religion.
LITIGATION FINANCE
Adjunct Professor of Business
Marc B. Sherman was quoted in
a Dow Jones Newswires article
(2/12/04) about the class action
suit recently filed by certain
Mail Boxes Etc., franchise
owners against Mail Boxes Etc.,
and its parent company, United
Parcel Service Inc. A specialist
in litigation finance, Sherman
observed, It may be difficult
to get a class certified if the
businesses are so different that
each requires a separate calcu-
lation of damages.
McDonough Business 11
 For a monthly archive of the McDonough Schools media coverage
visit McDonough In the News on the News & Events section
msb.georgetown.edu/news/in_the_news.htm
FACE OFF
Adjunct Professor Craig Tar-
tasky was quoted in a Reuters
article (2/12/04) about Comcast
Corporations attempt to buy
the Walt Disney Company for
$50 billion and the underlying
implications for the Philadel-
phia Flyers and the Anaheim
Mighty Ducks hockey teams,
which are owned by Comcast
and Disney respectively.
MARKETING MISSIVE
Professor Alan R. Andreasen
penned a letter to the editor of
The Chronicle of Philanthropy
(2/5/04) in response to an article
entitled Gaining Success by
Degrees. In his letter, Andreasen
disputed the articles conflation
of fund raising and marketing
and proposed that a broader,
more enriching view of marketing
as drawn from business schools
is that it is any effort to influ-
ence the voluntary behavior of
target audiences to meet organi-
zational goals.
FALLING DOLLAR
Associate Professor Michael R.
Czinkota wrote a Washington
Times op-ed article (1/5/04) in
which he stated that the dollar
avalanche predictors should
know that there may be ups and
downs, but at the end, well be
on firm territory again. This
op-ed also appeared in the
Japan Times on the same day.
12 McDonough Business
of the school Web site at
DISCRIMINATION AT WORK
Assistant Professor Patricia F.
Hewlin was quoted in a Gannett
Online article about discrimina-
tion in the workplace and what
organizations should do to fos-
ter a healthy working environ-
ment. The article ran in the
careers section of at least four
Gannett online properties,
including the Detroit Free Press,
the Indianapolis Star, the Ari-
zona Republic, and the Des
Moines Register.
GOOGLE IPO
Research on allocations of initial
public offerings and flipping
activity by Professor Reena
Aggarwal was cited in a
Financial Times article (5/4/04)
on the Google IPO. In a Chicago
Tribune article (5/1/04) on the
competition between NASDAQ
and the NYSE for listing
Google Inc., Associate Professor
James J. Angel was quoted on
the impact of losing the listing.
Angel also was quoted in similar
articles in the Associated Press
(4/30/04) and Dow Jones
Newswires (4/29/04).
MBA MARKETING
Director of MBA Admissions
Monica Gray was interviewed on
BusinessWeek online (12/23/04)
about admission selection
criteria for the full-time MBA
program. Gray said she looks
for the right fit, among other
attributes, as well as applicants
who have narrowed their list and
focused on Georgetown. Gray,
and three McDonough School
alumni, Sam Chawla (MBA02),
Carrie Kurtz (MBA02), and
Kim Kwiatkowski (MBA00),
also appeared in BusinessWeek
online streaming video inter-
views (1/30/04) demonstrating Wanted: Writers
what to doand not to do
to ace an MBA admissions
McDonough Business
interview at Georgetown. Rising
second-year MBA Heidi Jackson seeks freelance writers.
and Deborah Reyes (MBA04)
We are interested in
discussed academic and career
options for Hispanic and black a broad spectrum of
MBAs at the McDonough
activity in and beyond
School in a BusinessWeek online
forum (1/19/04) for prospective Georgetown, including
students.
stories that focus on
DAY TRADING the research, scholarship
Associate Professor of Finance and professional
James J. Angel discussed what
development activities
makes a good day trader in an
article on the resurgence of the of faculty and students
industry in Kiplingers Personal
in the McDonough
Finance (4/1/04). Angel quipped,
Being a good trader is like School as well as the
being a good baseball player.
business ventures,
If youre one of the top 1,000
players, you can make a really philanthropy and
good living. If youre like me,
success stories of our
youre going to drop the ball
and strike out a lot. distinguished alumni.
If you have a story to
TOUGH LOVE
pitch, please send a
Executive Professorial Lecturer
Kenneth E. Homas MBA mar- brief query to
keting elective, Applied Market-
msb-news@msb.edu.
ing Management, was featured
in a New York Times (1/18/04) Tell us who you are
article on tough (but popular)
and what kind of article
courses at universities. Accord-
ing to Homa, Everything they youd like to write.
do in my classes will help them
land the best possible job and,
most important, succeed at that
job when they get it. The story
also quoted Brent E. McGoldrick
(MBA04).
intellectual capital
Professor Reena Aggarwal completed her sab-
batical as a visiting scholar at the International
Monetary Fund in fall 2003 and returned to
Georgetown in spring 2004. She was also a pan-
elist at the U.S. Securities and Exchange Commis-
sions International Institute on Legal Frameworks
for Capital Market Development in April 2004.
Aggarwal presented her papers, Portfolio Pref-
erences of Foreign Institutional Investors (with
L. Klapper of the World Bank and P. Wysocki of
MIT) and ADR Holdings of U.S. Mutual Funds
(with Assistant Professor Sandeep Dahiya
and Klapper), at the Darden School, the Univer-
sity of Buffalo, and Tulane University.
Executive Professorial Lecturer Richard F.
America received a grant from the Kellogg
Foundation for the African Professional School Ini-
tiative. He visited business schools in the Southern
African development community this summer, and
spoke on graduate management education in
Africa at a conference at the International School
of Management in Dakar, Senegal.
Professor Alan R. Andreasen has been active
on the lecture circuit. He presented Reposition-
ing Social Marketing at the Innovations in
Social Marketing Conference in January; Social
Marketing Concepts and Tools at the World
Bank program on Water and Sanitation in
March; Branding and Positioning at the U.S.
Chamber of Commerce in March; and Com-
munications Challenges for Nonprofit Organiza-
tions at the Nonprofit Communications
Network in January. He spoke on a panel at the
National Conference on Nonprofit Enterprise in
January. Andreasen also delivered presentations
on Nonprofit Marketing at the Rapides Foun-
dation in December 2003; Social Change
Through Marketing at the Association for Uni-
versity Centers on Disabilities in November;
Communications Planning at Habitat for
Humanity International in October; Introduction
to Social Marketing at the American Red Cross
in September 2003 and February 2004; Devel-
oping Memberships at the Association of Uni-
versity Educators in Washington in September;
and Selling Marketing Internally Building
Consensus at the American Marketing Associa-
tion Conference for Nonprofit Marketing Man-
agers in July 2003.
Associate Professor James J. Angel partici-
pated in the Institute for Mathematics and its
Applications program in genomics, networks,
and financial engineering in Minnesota in May.
He presented a paper on short selling at the
Center for Financial Studies at Frankfurt, Ger-
many, and he spent three months as the visiting
economist at the Shanghai Stock Exchange.
Professor George G. Brenkert was selected as
an academic adviser to the Business Roundtable
Institute for Corporate Ethics, housed at the Uni-
versity of Virginias Darden Graduate School of
Business Administration. The institute will con-
duct research, create a business ethics curricu-
lum, lead executive seminars on business ethics,
and develop best practices in the area of corpo-
rate and business ethics. The academic advisers
will have direct access to and interaction with
the 150 Business Roundtable CEOs in order to
develop curricula and best practices for use by
companies and business schools.
Associate Professor Thomas L. Brewer had
the first of two companion articles on the inter-
actions of the international trade regime and the
emerging international climate change regime
published in the refereed journal, Climate Policy.
The first article, The Trade Regime and the
Climate Regime: Institutional Evolution and
Adaptation, was published in December. The
second, The WTO and the Kyoto Protocol:
Interaction Issues, will be published in 2004.
Brewer also has published a chapter on a related
topic, Multinationals, the Environment, and
the WTO: Issues in the Environment Goods and
Services Industry and in Climate Change Mitiga-
tion, in Multinationals, the Environment
and Global Competition (Elsevier, 2004). In
ing the 2004 2005 transition year and will
addition, he has a chapter in an upcoming book
on research frontiers in international business-
government relations, International Business-
Government Relations (Grosse, ed.), called Global
Warming/Climate Change in the 21st Century:
New Issues for Firms, Governments and Research
on Business-Government Relations. He is currently
working on several journal articles and a book on
business and government responses to issues
associated with global warming/climate change.
Adjunct Professor Michael G. Carberry
received the Vicennial Medal from Georgetown
University for his 20 years of service.
Associate Professor Allan C. Eberhart
has two papers being published this year.
A Comparison of Mertons Option Pricing Model
of Corporate Debt Valuation to the Use of
Book Values will be published in the Journal of
Corporate Finance, and Equity Valuation Using
Multiples: A Comparison of Alternative Compa-
rable Firm Classifications will be published in
the Journal of Investing.
Heisley Family Professor of Global Manufac-
turing Kasra Ferdows was voted president-
elect of the Production and Operations
Management Society
(POMS) beginning in
May. This position will
revert to president
from May 2005 May
2006. POMS incorpo-
rates all academics in
this field internationally,
and the position has
been previously held by distinguished academics
from Harvard, MIT and many other prestigious
universities.
Associate Professor Ronald C. Goodstein
received the Hall of Fame Award from the Wash-
ington, D.C. chapter of the American Marketing
Association at its M Awards ceremony in May.
The M Awards recognize the top marketers in
the Washington metropolitan area, and Good-
stein was selected for his distinguished contribu-
tions to the marketing field and for his
leadership in the local marketing community.
Visiting Instructor Jacqueline F. Hoell was
appointed the new director of the Summer
Undergraduate Oxford Program. She will collab-
orate with Associate Dean David L. Garrison dur-
assume the role of director at Oxford in the
summer of 2005.
Executive Professorial Lecturer Kenneth E.
Homa spoke at the Consumer Electronics Asso-
ciations conference on small business strategies
and trends in May.
McCrane/Shaker Professor of International
Marketing Johny K.
Johansson published
In Your Face: How Ameri-
can Marketing Excess Fuels
Anti-Americanism (FT/Pren-
tice Hall, March 2004),
which explores how global
politics is reshaping the play-
ing field for U.S. companies.
Associate Professor Bardia Kamrad published
Supply Contracts, Profit Sharing and Switching
Options (with A. Siddique) in Management
Science in January, and will publish Innovation
Diffusion Uncertainty, Advertising and Pricing
Policies (with A. Siddique, S. Lele and R. Thomas)
in the European Journal of Operational Research.
Kamrad presented A Prefatory Perspective
on Optimal Control Theory at the Army Resource
Managers Conference at Georgetown in
September 2003.
McDonough Business 13
Associate Professor Catherine M. Langlois
co-authored an article with Jean-Pierre Langlois
entitled Provisions for Noncompliance and
Treaty Value: A Game Theoretic Perspective,
which was accepted for publication in Interna-
tional Studies Quarterly in June.
Assistant Professor Jeffrey T. Macher
co-authored Organizational Responses to Dis-
continuous Innovation: A Case Study Approach
in the International Journal of Innovation
Management in March. He also co-authored
Vertical Specialization and Industry Structure in
High Technology Industries in Business Strategy
Over the Industry LifecycleAdvances in Strategic
Management (June 2004).
Professor Douglas M. McCabe served as
co-editor of Business Ethics in Transitional
Economies: Special Issue from the International
Conference for the Journal of Business Ethics
(November 2003). He also presented a paper
titled The Ethics of Peer Review Panels and
Internal Corporate Tribunals at the 2004 Inter-
national Business Conference of the Society for
the Advancement of Management in Baltimore,
Md. McCabe served on the editorial board of
Research in Ethical Issues in Organizations, Volume
5 (2004), and was the academic coordinator for
the 2004 International Security Management Asso-
ciation/Georgetown Leadership Program held in
Washington, D.C. He also presented a seminar
on managerial ethics as part of the University
Training and Development Professional Manager
Certificate Program. Additionally, he presented
an executive education course on mastering
employee relations for the MedStar Health Lead-
ership Development Institute through George-
towns Center for Professional Development,
and presented seminars for CPD on the subjects
of negotiations and leadership.
Adjunct Lecturer James P. Moore, Jr. is the
author of American Prayer: The Spiritual History
of Our Nation, to be published in February
2005, which tells the story of the United States
through the prayers offered by its populace over
the centuries.
Professor J. Keith Ord was named Honorary
Geographer of 2004
by the Association of
American Geographers.
The AAG cited Ord for
his seminal contribu-
tions to spatial statistics
and to geographic
information systems
and analyses.
14 McDonough Business
Adjunct Professor Marc B. Sherman delivered Faculty Earn Awards for
a speech on corporate fraud and the loan/syndi- Teaching and Service
cation markets at the 7th Annual Loan Markets
and Syndication Symposium in December 2003. The following faculty members
were recognized at the 2004 Tropaia
Sullivan/Dean Professor of International
Exercises, the MBA awards and
Finance Richard J. Sweeney spent his sabbati-
diploma ceremony, and the IEMBA
cal term pursuing research for a book on designing
a constitution for the European Union. Sweeney graduation ceremony:
made presentations at universities and business
schools throughout Europe, including the Copen-
Faculty Research Award
hagen Business School, Gothenburg University,
Associate Professor Paul Almeida
the Norwegian School of Management and the
University of Trento. He presented Designing Joseph F. Le Moine Award for
an International Bankruptcy System for Sovereign Undergraduate and Graduate Teaching
Debtors at the Financial Management Associa- Excellence
tions Europe Meetings in Dublin in June. He also
Professor Robert J. Bies
delivered the keynote address on U.S. History
and its Implications for an EU Constitution, Deans Distinguished Service Award
at the Annual Conference on Scandinavian Associate Dean Ann-Mary Kapusta
Economies and Policies. Sweeney gave workshops
Deans Award for Excellence in
on Advanced Techniques in Valuing Foreign Firms
and Projects at Skovde University and Poznan Adjunct Faculty Teaching
School of Economics, and he taught interna- Adjunct Lecturer James P. Moore, Jr.
tional finance and applied international econo-
The Ronald L. Smith Distinguished
metrics at the Copenhagen Business School
Service Award
and Gothenburg University.
Executive Professorial Lecturer
Assistant Professor Jeanine W. Turner,
Kenneth E. Homa
Professor Robert J.
Thomas, and Profes- The Distinguished MBA Teaching Award
sor N. Lamar Rein- Executive Professorial Lecturer
sch, Jr. published Kenneth E. Homa
Willingness to Try a
New Communication IEMBA Outstanding Teacher Award
Technology, in the Associate Professor
Journal of Business Teri L. Yohn
Communication (Janu-
ary 2004). Their
research supports the
assertion that perceived attributes of new med-
ical communication technology significantly
affect patients willingness to try the technology.
Visiting Assistant Professor Sezer Ulku
and Assistant Professor Glen M. Schmidt
presented Matching Product Architecture
and Supply Chain Design at the second World
Production and Operations Management
Conference in late April.
Yohn and Benoit Simon (IEMBA04)
Faculty in Focus Robin L. Dillon-Merrill
By Tom Price
Risk analysis has more than
academic interest for McDonough School
Assistant Professor Robin L. Dillon-Mer-
rill. Her husband, Tom Merrill, is an Amer-
ican Airlines pilot.
Fallout from the 9/11 terrorist attacks
has heightened interest in her specialty
decision and risk analysis, Dillon-Merrill
said. She is participating in a series
of workshops, sponsored by Lawrence
Livermore National Laboratory, that is
attempting to gauge the decision-making
capability of decision makers in complex
environments, including judgments
about terrorism threats.
Dillon-Merrill formulates mathemati-
cal models to help decision makers assess
complex problems that involve uncer-
tainty, multiple objectives and tradeoffs.
The tradeoffs make the decisions espe-
cially difficult, she said.
A lot of people are interested in
defense for commercial airplanes against
shoulder-held missile attack, for example,
she noted. This is a huge technology
challenge and would cost enormous
amounts of money to do. It makes you
wonder if that money would be better
spent some other way that would generate
protection of more people.
Decision makers must consider many
kinds of risk, Dillon-Merrill said, and
you cant do away with all of it.
In addition to the risk of physical
injury, she pointed out, theres the risk of
failing to accomplish the primary mission.
What if Metro cant operate because
so many [risk-reduction] burdens are
placed on it? she asked.
When NASA analyzes risks in a
planned space mission, she said, the scope
of the mission has to be balanced against
the likelihood of success. Sending redun-
dant versions of the equipment needed for
a single scientific task increases the likeli-
hood the task will be completed, but it
reduces the number of tasks that can be
attempted. Sending one set of equipment
for each of several tasks increases the risk
that some tasks will fail, she explained.
People perceive risks they want
to mitigate. But, in mitigating them,
they might be increasing very real
risks that they arent as aware of.
Closer to earth, one of Dillon-Merrills
early research projects involved studying
risks to workers posed by electromagnetic
fields surrounding high-voltage power lines.
Linemen who hook onto high-voltage
lines are probably getting exposure that
would not be healthy over a long period of
time, she said. But alternatives for reducing
that threat arent risk-free.
One proposal, to de-energize lines
before theyre worked on, would increase
the amount of driving workers have to do
between worksites and control points, she
said. Unfortunately, the risk of auto acci-
dents is one of the most significant risks
to worker safety.
Another proposal, for linemen to use
long hot sticks to work on the lines
which would allow them to stay away from
the electromagnetic fieldcould increase
the time it takes to do the job and increase
the probability of falls, she said.
So, if we want to do something to
improve safety, she said, we have to be
very careful not to increase some other
very real risk.
That is especially important to keep in
mind when assessing risks from terrorism,
she added.
People perceive risks they want to
mitigate, she said. But in mitigating
them, they might be increasing very real
risks that they arent as aware of.
Dillon-Merrill was attracted to her
field when, as an undergraduate at the
University of Virginia, she attended a
presentation by Stanford University profes-
sor Elisabeth Pat-Cornell, who was analyz-
ing the potential risks associated with debris
hits on the tiles of the Space Shuttle.
I was so impressed by how you could
have a very formal thought process that
could have a lot of benefit to solving real
problems, Dillon-Merrill explained.
At Virginia, she earned B.S. and M.S.
degrees in systems engineering with a
concentration in risk analysis. She earned
her Ph.D. in engineering risk analysis at
Stanford, where Pat-Cornell became her
adviser. They have collaborated on several
papers.
At McDonoughs Center for Business
and Public Policy, Dillon-Merrill is bring-
ing a risk-management perspective to
worker health and safety issues. Shes a
member of a National Academies commit-
tee on accelerating waste cleanup at Energy
Department nuclear weapons facilities. She
is a fellow in a National Science Founda-
tion-sponsored program on social science
research into hazards, natural disasters
and other extreme events.
She is principal investigator of NASA-
sponsored research to develop a risk-analysis
framework for use in preparing for human
missions to the moon or Mars. She and
Associate Professor Catherine H. Tinsley
also have a NASA-sponsored research proj-
ect to examine how near-miss events influ-
ence a persons beliefs about the reliability of
a technical system and why the risks associ-
ated with prior foam debris hits were over-
looked in the space shuttle program before
the Space Shuttle Columbia accident.
McDonough Business 15
Prospectus
The European Prayer of Saint Augustine
By Michael R. Czinkota and Ilkka A. Ronkainen
T
he European Union grew
from 15 to 25 members
on May 1. For 480 million
Europeans, borders should
have opened for free move-
ment of people, ideas and commerce.
But politics and politicians have sharply
restrained that movement.
Many in the old Europe fear disaster
from a rapid influx of people. Workers from
low-income nations within the expanded
European Union could come to steal the
few menial jobs still held precariously by
locals. Immigrants may take advantage of
generous health care, unemployment or
welfare systems. And theyll never go home
once they discover the
burial benefits. The current European expansion is
The new EU mem-
remindful of the prayer of Saint Augustine:
bers disagree. They point
to a long history in which Lord make me chaste but not yet!
they have been occupied,
exploited, and oppressed. Yet, they have
never left their countries. Quite telling is
the comment of a Hungarian who points
out that we live in brick houses to
explain that families have stayed in place
for centuries. Perhaps a few excursions
abroad, but never a move!
Right now, fear has the political upper
hand. The old European nations have
implemented special escape clauses to
safeguard their systems. An abundance of
regulations are aimed against the new
Europeans. For up to seven years, they
will need special work permits, will be
restricted in their unemployment and
health care benefits, and constrained in
their retirement programs. The current
European expansion is remindful of the
prayer of Saint Augustine: Lord make me
chastebut not yet!
There are key drawbacks to such an
arrangement. Delay introduces uncertainty,
discontent and suffering. Those seeking
benefits are disappointed. Their hopes of
rapid improvement and dreams of equality
are shattered. After a century of misery due
to accidents of history and geography, here
is another painful setback. It was, after all, Europe? The opportunities to pick up and
EU proximity that enabled the new mem-
ber countries to reform their economies
and political systems in the short time
period since the downfall of Communism.
16 McDonough Business
Those seeking to postpone the effects
of expansion only weaken their station.
Jobs will continue to move to locations
where they are performed better and at a
lower price. There will be no inflow of
new enthusiasm and elasticity. Rather
than welcoming a shift to a new produc-
tive era, there is now a stultifying wait for thinking. This is a key opportunity to
the inevitable, discouraging the old but
not encouraging the new.
Europe is different from the United
States, but some post World War II U.S.
experience can offer insights. Each year,
on average, every seventh American moves.
Most moves are within the same county,
or within the same state. But year after
year, U.S. movers to a different state almost and adjustment to new conditions. Open-
reach three percent of the population.
That is the equivalent of the entire U.S.
population transitioning to a new home
state in little more than one generation.
Not everybody moves equally. The
wealthy and well-entrenched have very low
migration patterns. Those with low house-
hold incomes are the most avid movers,
seeking new opportunities. Young adults
move frequently to broaden their views.
All this mobility has maintained a
sense of adventure in America. It has
retained a spirit of flexibility and explo-
ration. If there are no new jobs in Illinois
but lots of new opportunities in Arizona,
then thats where many people go. There
has been the creation of entirely new
regional industry and service clusters, the
absorption of many immigrants into the
economy and relatively low long term
unemployment. There remains strong
local pride of place yet there is little xeno-
phobic fear from out-of-state migrants.
Vermonters dont fear Virginians!
What does all this mean for the new
move are there, and those ready to move
would fill a vital need. The decline in fer-
tility and aging of the population will
reduce the workforce by 5.5 percent by the
year 2020 in the old EU. Even large
increases in mobility would only represent
a small population flow (which is now less
than one half of one percent). People
deserve to explore new options. New
moves may well become an action signal
for the European economy and way of
enrich the quality of life of regions and
individuals.
A long-term view is necessary. Migration
may not result in permanent relocation.
Individuals who go back home stimulate
investment by setting up businesses and
employing others. Many immigrants, rather
than looking for a handout, want to develop
their own base: home owner-
ship, better educational oppor-
tunities, as well as health and
economic security.
All these moves will
change cultures. After all,
culture is the result of learned behavior
ing up to others should bring the reward
of growing flexibility, better understand-
ing, and rising tolerance levels. Mobility
has brought the power of improvisation
and adjustment to the United States.
Todays world needs a Europe of courage,
innovation and a willingness to take risks,
with citizens that want new members to
be part of, rather than apart, from them.
It is time for traditionalists to discard the
remaining barriers to mobility and to
embrace with pride and happiness the
new Europeans.
Professors Czinkota and Ronkainen teach
international business and marketing at the
McDonough School.
Competitive Edge:
Case Competitions
Enhance Skills by Tom Price

A McDonough teams case competition

presentation turned into a consulting
relationship with National Public Radio
that might help shape NPRs management
of a $200-million endowment.

That achievement, by five first-year MBA

candidates, is the most dramatic of the
successful performances staged by
a half-dozen McDonough School case
competition teams during the 2003 04
academic year.

McDonough Business 17
 our juniors won a trip to New
F York for finishing third in a
competition sponsored by
Banc of America Securities,
and all were offered summer
internships as a result, although they ended
up accepting internships with other firms.
Two teams of seniors won preliminary
rounds then finished second in international
competitions held in Austin and Seattle.
McDonough first-year MBAs performed
on the first-, second- and third-place teams
at a University of Rochester competition in
which each team comprised students from
several schools. And five MBA candidates
won the wildcard round of the Venture
Capital Investment Competition at Van-
derbilt University.
The Georgetown teams growing suc-
cess should lead to greater future success,
according to Associate Professor Willis
Emmons, who coached the teams that
competed in Austin and Seattle.
You kind of need to build your repu-
tation in the competition circuit,
Emmons explained, because these are
pretty much invitation-only events. Its a
chicken-and-egg problem. If youre not
known, its hard to get invited. If youre
not invited, its hard to get known.
These recent achievements are begin-
ning to build Georgetowns reputation,
not only nationally but internationally
The Global Challenge Case Competition team, from left to right:
David J. Gold (B04), Daniel M. Moreira (B04), Kevin A. Tucker (B04),
Jennifer L. Paragallo (B04), and faculty adviser Willis Emmons.
18 McDonough Business
because some of the competitions include
schools from the around the world,
Emmons said. Hes optimistic that
McDonough students will be invited to
competitions overseas in the near future.
Performing well in the competitions
also boosts the schools overall reputation
and enhances the competitors resumes,
Emmons said, because major organiza-
tions sponsor competitions, are case sub-
jects, and send executives to judge and
observeas the McDonough students
NPR experience demonstrates.
Philanthropist and McDonalds heir
Joan B. Krocs $200-million bequest to
NPR in late 2003 was the subject of the
George Washington University/KPMG
case competition at the Washington Mar-
riott in March. Twenty teamsfrom the
United States, Canada, Hong Kong, Italy
and Spainwere challenged to create a
five-year strategic plan for the nonprofit
producer of programming for 750 public
radio stations.
Most teams assumed the bequest
would be invested as a traditional endow-
ment and would generate $10 million
annually for NPR projects. The McDo-
nough students Anuvrat Joshi, Zachary
Gast, Jaseung Coue, Richard Russo and
Tamar Migdal proposed investing the
bequest in member stations equipment
and program development. NPR would
earn interest on loans
or share in program
revenues.
The thought was
that, if you can put
some capital behind
member stations,
NPR could achieve
financial returns and
at same time have
social impact toward
achieving its mis-
sion, Gast explained.
The entire $200
million could be put to
work in public radio,
and the total would
grow over time.
The Georgetown [presentation] really stood out for
NPR Executive Vice President Ken
Stern, a first-round judge in the competi-
tion, described the McDonough teams
presentation as fabulous.
We heard a lot of presentations during
the case competition, many of which were
quite good, he said. But the Georgetown
one really stood out for creativity, and I
said we want to follow up on this.
Although the McDonough students
finished second to host GWs team, Stern
asked them to refine their proposal and
present it to top NPR executives.
Everyone (at NPR) has been very favor-
ably disposed to the idea, Stern said. Its
one of those ideas that, when you hear it,
you say: Why didnt I think of that?
What made it great was that everyone
else took the terms of the case as sort of
fixed: You have this endowment; you cant
spend the endowment. [The McDonough
team] said: How can we leverage the
entire endowment for the benefit of public
radio? And that was the creative thought
that really grabbed us.
The proposal now is being discussed
by NPR executives, board members, NPR
Foundation trustees and local station
executives.
I hope some of it becomes reality,
Stern said. And that might give the
Georgetown team some more consulting
work in the future.
Like Stern, David Williamson, a McDo-
nough adjunct and the teams coach, was
impressed with the students creativity.
They didnt stop with what was safe,
Williamson said. They kept coming at it
from different perspectives.
Their final proposal was significantly
different from what it was at the outset.
It was nice to see it evolve was they got
more into it.
Also impressive, he said, was the way
the students worked effectively under
extreme time pressure. They received the
case three weeks before the presentations,
and that period included spring break and
the week of intensive study for the inter-
national integrative coursework.
We were staying up late into the
night, Joshi recalled. I hardly slept. We
were quite scared about exactly how we
could do all of this.

The Venture Capital Investment Competition case team, from left to right: second-year MBAs
Fergus D. Mellon, Samuel T. Sezak, Graham S. Williams, Alp Bagriacik and Eugene Mizin.
T
ime pressure is an important part of
many competitions, Emmons said.
In Austin and Seattle, the teams had
about 48 hours to research and prepare
their presentations. Its all part of replicat-
ing real business challenges, he explained.
The cases involve real companies, he
said. Some of the judges are from the
companies. The students are not talking
about some abstract business issue. Theyre
talking about a very concrete company
issue, with company executives there.
I tell them its like youve walked into
a board meeting or a senior management
meeting. They want to hear what you have
to offer, and theyre going to want to find
any weakness there.
Thats what theyre going to face in
their careers.
The competitions often include addi-
tional educational activities, Emmons said.
The Seattle contestants toured a Boeing
plant, socialized with their competitors,
whom Emmons described as some of the
brightest students from these programs,
and participated in a roundtable discussion
of global sourcing and logistics.
David Gold, a member of the Seattle
team, agreed it was a very practical
experience.
The competition opened our minds to
different factors [in business decision-
making] that I wasnt totally aware of
creativity, and I said we want to follow up on this.
before, Gold explained. It kind of pre-
pared you for [job] interviews in terms of
being on the spot and being able to
answer questions while thinking on your
feet. Im sure Ill see the fruits of this for
many years to come.
Gold and his teammates in the Global
Business Challenge Daniel Moreira,
Jennifer Paragallo and Kevin Tucker
trained with Mary Clare Haskins, Amol
Luhadia, Jason Reid and Sharon Sweeney,
who competed in the similar International
Business Challenge in Austin.
Aaron Shumaker, Michael Catts, Ryan
Mooney and Abhyuday Prashad all
active in Georgetowns alumni and student
credit union faced a different task in
the Banc of America Securities Challenge.
Teams were sent one case each week for
three weeks and had to answer multiple-
choice questions. The top three teams
received a celebratory dinner and a night
in New Yorks renowned Plaza Hotel.
In Rochesters Marketing Case Com-
petition, Gregor Gentschev was a member
of the winning team. Jennifer Wharton-
Balint was a member of the second-place
team and Frederico Almeida the third-
place team.
Entering the venture capital competi-
tion were Alp Bagriacik, Eugene Mizin,
Fergus Mellon, Graham Williams and
Sam Sezak.
Acing the Case Interview
No longer limited to the consulting
field, hiring managers in the finance,
marketing and operations industries
are increasingly using case-style inter-
views to screen job applicants. Accord-
ing to Assistant Professor Sandeep
Dahiya, case interviews are the
weapon of choice for hiring in any
industry or function that involves
client service.
Case interviews allow hiring compa-
nies to evaluate candidates on their
ability to identify the business prob-
lem, provide a solution, and then com-
municate the solution back to the
interviewer, says Dahiya, who was a
consultant for McKinsey & Company.
A person who performs well in a
case interview demonstrates an ability
to listen, ask good questions, make
good assumptions, use deductive rea-
soning, and think on his feet.
The framework and techniques used
for analysis for a case interview is
similar to that in a case competition,
but the main difference, says Dahiya,
is that in the case interview the solu-
tion is not the most important issue.
What they are looking for is the think-
ing process and the quality of the
interaction.
In conjunction with the MBA Career
Management Office and the MBA
Consulting Club, Dahiya conducted a
case interview workshop for more
than 100 students in the fall of 2003.
The workshop was shaped by Dahiyas
personal experience working in the
corporate finance and strategy prac-
tice of McKinsey & Company.
McDonough Business 19
Reaching Out, Giving Back
IEMBAs Launch New Initiatives to Increase Engagement
By Jessica Botta
In his strategic plan for Reaching Out
In the fall of 2003, members of the IEMBA
the McDonough School,
Class of 2004 held a series of meetings with
former dean John W. Mayo faculty and staff members to discuss ways in
which students could positively contribute
articulated the goal
to the program with the goal of advancing
of increasing the level of it to one of the top five executive MBA
programs in the world.
engagement among all
As a result of those meetings, the
McDonough School IEMBA candidates established an initia-
tive to identify the most important issues
constituents, including
and goals for the program from a student
students, faculty, administra- perspective and then assign student
resources to help own these initiatives and
tors, and alumni in order to
represent each stakeholder group.
leverage our significant Graduates from the class of 2004
Larry Bradley, Myleeta Aga and Benoit
non-financial resources to
J. Simon presented their plans, which
advance the school. included seven specific initiatives, at the
April meeting of the schools Executive
Members of the IEMBA Council. The students were received with
applause.
program took this to heart, The initiatives run the gamut from
and in fact, were already increasing our engagement with alumni,
raising the profile of the program both
engaged in two new initiatives internally and externally, sharing knowl-
to accomplish this goal. edge, leveraging change through fundrais-
ing, and creating a formal IEMBA
student and alumni body, said Bradley.
In all cases, the idea is that as IEMBA
students we want to continue to build the
value of the program and of the school.
As a graduate student and a teacher at
five different institutions, I have never
seen a group as enthusiastic and commit-
ted, said Assistant Professor Brooks C.
IEMBA candidates Eric J. Kessler and Ajay K. Gupta Holtom. Our core mission as an institu-
tion is to develop new knowledge, and by
creating knowledge-sharing mechanisms
between faculty and alumni, the organiza-
tions employing our students have the
potential to gain a competitive advantage.
Lawrence Hannifan, Robert L. Fragola (IEMBA98),
and Kelsey Regen (IEMBA00) at the October 2003
IEMBA alumni event.
20 McDonough Business
Giving Back
In the same spirit of engagement, alumni
of the IEMBA program came together in
November 2002 to discuss ways to connect
alumni across classes, facilitate interaction
between IEMBAs and other McDonough
School programs, and ultimately increase
the value of the school and the IEMBA
degree.
It takes about six months to realize what
youve been through [with IEMBA], and
once you do, you have a profound respect for
the level of education you are receiving, said
Geff Woodward (IEMBA02). Then you
realize what an asset you can be as an alum-
nus to the help the school.
IEMBA alumni have created an organi-
zational body to facilitate their interaction
and involvement with the school. Robert
Fragola (IEMBA98) was elected by fellow
alumni to serve as the groups president,
and he is supported by a governing board
that includes Woodward, Stephanie
Cinocco (IEMBA03), Larry Bradley
(IEMBA04) and Chris Cather
(IEMBA01), which meets once a month in
the Car Barn. Associate Professor Paul
Almeida serves as the faculty liaison to the
board. IEMBA alumni plan to host several
events each year, including an induction
ceremony in the spring for new graduates,
and various social and networking events,
and they will work with Director of Gradu-
ate Alumni Programs Robert P. Johnson to
increase IEMBA attendance at reunions.
Suzanne P. Clark (IEMBA03), U.S.
Chamber of Commerce executive vice
president and chief operating officer,
hosted IEMBA alumni for a networking
event at the Chamber in May. IEMBA
alumni and Chamber members and staff
turned out for the event, which Fragola
hopes will become a yearly event that
epitomizes what we are trying to do as an
IEMBA alumni organization.
Our goal is to get people engaged
with the school and increase the cross-
class communication, Fragola said. The
event at the Chamber combines the things
that make Washington, D.C., great
Georgetown University, business and gov-
ernmentand they were all represented.
Collaborative Spirit
The IEMBA program has already
become one of the best executive MBA
programs in the world, said Heisley Fam-
ily Professor of Global Manufacturing
Kasra Ferdows. It is precisely because we
are a top program and a leading business
school that these initiatives are so impor-
tant to maintain and advance that status.
The student and alumni initiatives
are inextricably linked and are mutually
supportive.
Our students and alumni are motivated
by pride in the school and a commitment
to its ongoing success, said Assistant Dean
and IEMBA Program Director Lisa A.
Kaminski. These are important activities
that will go a long way to ensure that the
school remains competitive and constantly
sets higher standards for the educational
experience as well as the services it provides
to its stakeholders.
IEMBA candidate Deena E. Gift at the
2003 Opening Residency
IEMBA candidate Melanie El-Sabaawi
Reunion Redux
Eighteen percent of the MBA and IEMBA reunion classes returned for Reunions Week-
end, June 4-6, 2004, which included a deans reception in the Car Barn, Saturday semi-
nars with Georgetown faculty, an MBA/IEMBA golf tournament and the French Embassy
Dinner Dance, in addition to Main Campus reunion activities. The MBA Class of 1984,
under reunion chair James Schroer, received the class attendance award with 32 percent
of its members returning. The MBA Class of 1999, under the leadership of reunion chair
Lisa S. Kleinknecht, followed closely behind with 28 percent attendance.
Planning for Reunion 2005 is already underway. For more information or to volunteer,
MBA and IEMBA alumni should contact Robert P. Johnson, director of graduate alumni
programs, at (202) 687-3738 or johnsonr@georgetown.edu.
Regional MBA/IEMBA Events and Career Development
More than 800 MBA and IEMBA alumni attended 13 regional events throughout the
year, including a series of five career development seminars in Washington, D.C.,
co-hosted with the Wharton Club of D.C. The April seminar on Career Transition and
the Art of Personal Transformational Change featured Alan Berson, an executive coach
who earned his certification from Georgetowns Center for Professional Development.
The June seminar, entitled Its About Me!, featured Thomas J. Arnsperger (IEMBA96),
director of strategic consulting services at MorganFranklin. For more information on
alumni career services programs, contact Robert P. Johnson.
MBA Fund Chairs
William H. Diamond, Jr. (MBA83) and John Spirtos (L92, IEMBA00) are the new chairs of
the MBA Fund, which includes MBA and IEMBA divisions. As fund chairs, they will help
increase participation in the fund, which received an average gift of $490 from approxi-
mately 14 percent of the MBA and IEMBA alumni population in fiscal year 2004.
Greg Hamilton (IEMBA03), Associate Professor Robert F. Piacesi (IEMBA02) and
Teri L. Yohn, and Associate Professor Paul Almeida Arturo Oliver (IEMBA03)
at an IEMBA alumni event in October 2003.
McDonough Business 21
corporate profile
Second in a series of articles highlighting significant collaboration between the McDonough School of Business and its corporate partners.

America Online, Inc., a division of Time Warner, is a world

leader in interactive services providing consumers with online
experiences available through its flagship AOL service. With its focus
perspectives
My experience at Georgetown has played an
on consumers, AOL seeks to become an essential part of the way people absolutely central role in my career at AOL,
live by connecting, informing, and entertaining its members however even though the Internet was merely a gleam in
they connect to the Internet. The 30 million AOL members around the world operate nearly the eye of a few Defense Department computer
geeks when I attended in the 1970s. George-
170,000 chat rooms, and send 450 million emails and 1.5 billion instant messages every day.
town provided a world-class education, but
AOL supports philanthropic strategies with schools and nonprofit organizations and more important, I was encouraged, cajoled,
pushed and driven to develop my inner gifts of
encourages active citizenship and community involvement on the part of its employees and its
character and leadership that are so critical to
membersparticularly focused on those areas where its employees live and work. In much the success. I learned of the importance of mentoring
same way, community service and volunteerism have long been defining characteristics of students and investing in others from an extraordinary
education at the McDonough School of Business, as well as Georgetown Universitys mission. educator, the late Father Durkin, who invested
everything he had in me. I had my first entre-
As a prominent corporate leader in the Washington, D.C., community, AOL is an ideal preneurial experience selling red-white-and-
partner for the McDonough School and supports its mission of educating business leaders blue snow cones during the Bicentennial
(always an eye on what the consumer wants).
who can improve the management of organizations and the societies in which they operate.
And I learned that the impossible is possible:
that with the help of
many wonderful people,
the son of a waiter and a

connections secretary from a work-

AOL provides educational enrichment
opportunities to McDonough School students
through its Partnerships in Excellence
Program, which creates consulting projects
for students on real business issues at the
company. The McDonough School students
performance in the program in 20032004
resulted in two full-time job offers and two
summer internships for undergraduates
at AOL.
AOL supports the Operations and
Information Management major in the
McDonough Schools undergraduate program,
including sponsoring an award for student
scholarship and service.
AOL hires McDonough School under-
graduates and MBAs for full-time positions
and summer internships and is a regular par-
ticipant in the MBA Careers Extravaganza,
including providing alumni panelists to serve
on marketing, technology and telecommu-
nications panels.
AOL provides panelists and speakers for
McDonough School events, such as the
MBA Distinguished Speakers Series and the
Emerging Markets Network conference.
AOL has sponsored employees for the
IEMBA program since 2000 and has partic-
ipated in the IEMBA Opening Residency.
There are two AOL employees in the current
IEMBA class.
ing-class town told
that he was not college
material could finish
at the top of his class and
go on from there.
Ted Leonsis (C77)
Vice Chairman and President, AOL Core Services
The strategic skills I learned while doing my
MBA at Georgetown have proven to be invalu-
able, especially when dealing with the diverse
challenges I face in AOLs dynamic business
environment.
Philip Dunne (IEMBA98)
Director, Market and Member Development,
AOL Broadband
Georgetowns undergraduate programs in
business, with their strong focus on peer project
teams, provide invaluable experience prior to
entering the workforce. This has been especially
helpful here at AOL, where managing cross
functional groups is an essential part of a
managers role and a key to success.
Jonathan Ricard (B97)
Senior Marketing Analysis Manager

22 McDonough Business

My experience at Georgetown has been inspir-
ing and memorableit has helped make me
who I am today! Through my work at AOL, I
have been fortunate enough to be able to give
back to Georgetown. I go back and give guest
lectures, work on fundraising, sit on the Board
of International Initiatives, and was even able
to set up a scholarship fund for students wishing
to study abroad. Georgetown and AOL share
the same backyard I want to see more
Georgetown students
pursuing a career at
AOL! Georgetown opens
up our youths minds to
the world. At AOL, we
further that effort in
promoting an Internet
that is accessible to all,
regardless of age or geo-
graphic location.
Tatiana Gau (I89)
Chief Trust Officer and Senior Vice President,
Integrity Assurance
At Georgetown, I made great friendships,
learned the value of effective teamwork, and
gained the ability to multitask among various
subject matters. Georgetowns MBA experience
prepared me for the fast-paced, dynamic
environment at AOL, where I am consistently
challenged.
Carolyn Levy (MBA00)
Senior Business Development Manager
My MBA experience at Georgetown has
proven to be invaluable. Working on merger
and acquisition transactions requires the ability
not only to work closely with various cross
functional, operating and deal teams, but also
to understand the nuances of each discipline.
Georgetowns emphasis on teamwork and their
array of course offerings have prepared me
extremely well to succeed here at AOL.
Jeffrey Sunshine (MBA99)
Executive Director, Strategic Planning
First OPIM Majors Graduate
T
his May, nine students were
the first to graduate from
Georgetown University with
a major in Operations and
Information Management. The McDo-
nough School launched the major in
the fall of 2002 to meet the demand
for professionals that understand busi-
ness processes and how to enhance
them using information systems.
Its a big deal for our business school
to develop this competency, said
Visiting Assistant Professor Betsy Page McDonough School undergraduates present
their collegiate marketing strategy to AOL executives
Sigman, who serves as the OPIM faculty
as part of the companys PEP program.
adviser. So many of todays hiring
companies, especially here in the Washington, D.C. area, are high-tech, they are looking for
students with technical skills as well as a solid business background. When I tell high-tech
executives about our program, they are extremely encouraging, and often volunteer to come
speak to classes.
The OPIM faculty has developed strategic relationships with technology companies SAP and
America Online to create opportunities for collaboration in the classroom. Both SAP and AOL
provided cash awards to outstanding graduating seniors in the OPIM major based on their
service and scholarship.
The curriculum for the OPIM major, together with the caliber of the faculty and students,
inspired AOL to sponsor an award, said Carmel Hazard, associate director of AOL university
relations. We hope that this sponsorship demonstrates our support for the program and pro-
vides an incentive for students to target a major that is in demand by industry. Collaboration
between Georgetown and America Online has resulted in very positive results for both sides
definitely a win-win!
In February, Sigman took her e-commerce class, many of whom are OPIM majors, to AOL to par-
ticipate in its Partnership in Excellence Program (PEP), which generally is a graduate-level program.
AOL asked the students, working in teams, to develop a strategy for marketing its products to
college students. The teams then presented their ideas to a board of AOL executives.
OPIM has given us a competitive advantage in the job market by providing us with skills such
as Excel modeling and database development and management, said Kristin N. Campbell
(B04), who graduated in May with an OPIM major and will be working at Marriott Interna-
tional in its management development program. OPIM is an excellent compliment to the
other disciplines in the school, she said. Other OPIM majors have taken positions at AOL,
Liberty Mutual, Oak Brook Bank, Bearing Point and JP Morgan. For more information on the
OPIM major, go to http://msb.georgetown.edu/prog/opim.
McDonough Business 23
dividends
By Eman Quotah
G
eorgetown is planning and raising
money for a project that will give the
McDonough School of Business
something it has never had: one building to
house all its programs.
Having a central location is going to infuse
this program with identitythat is hard to
get when were scattered all over, said Associ-
ate Professor Elaine Romanelli. Offices and
classrooms are now located in the Car Barn,
Old North, Maguire Hall and other areas.
The new buildings design, by Boston archi-
tects Goody Clancy, is guided by the busi-
ness schools strategic plan, said Romanelli, a
member of the building committee and chair
of the committee that authored the strategic
plan last year.
Linking the schools programmatic goals to
its building plan was a key element in get-
ting board approval to move forward, she
said. In addition to bringing the schools
programs under one roof, the building will
accommodate curricular changes called for
by the strategic plan, such as a new intro-
ductory seminar for first-year undergraduate
students, Romanelli said.
The building also will give the school space
to house more executive education offerings,
said Virginia Flavin, chief of staff for the
dean of the business school.
We feel we can grow [executive education],
but we need facilities for it, she said. A lot
of our conference programs we do off campus
or in the Leavey Center, Flavin added.
Wed like to be able to bring a lot of that on
campus in the McDonough School building.
The new facility is also key to addressing
other programmatic goals, such as attracting
and retaining top-notch faculty members
Tiered classroom
24 McDonough Business
BUILDING FOR THE FUTURE
View of the east facade, connected by steps and a
walkway to the Leavey Center
and providing space to strengthen the
schools career services and job placement,
Flavin and Romanelli said.
The 188,000 square-foot building would
include 30,000 square feet of instructional
space, compared to 6,500 square feet that
the McDonough School has today, said
Alice Boyer (IEMBA04), director of plan-
ning in university facilities. In addition, she
said, faculty office space would double, and
the schools common areas and other
unprogrammed space would increase more
than six-fold.
This space isnt just measured in square feet
Flavin and others say it has symbolic
value as well. What wed like to have is a
signature structure for the business school,
Flavin said.
Proposed for construction on the western
half of Lot T, the facility is part of a long-
term plan to develop Georgetowns mid-
campus area. Building plans call for outdoor
patios and a vital new cross-campus walkway
linking the Southwest Quadrangle to the
Leavey Center, planners said.
In September 2003, Georgetowns board of
directors approved $5.7 million for the
design and regulatory phase of the facility.
The boards vote of confidence has helped
spur fund raising for the project, said
Michael Boyd, director of development for
the McDonough School. As of July 30, the
school has raised more than $56 million for
a new building, with $11.5 million raised
so far in fiscal year 2004.
If fund raising reaches $62 million by Sep-
tember, the university could seek board
approval to start infrastructure work.
Realigning West Road and relocating under-
ground utilities, which may take a year to
complete, could start as soon as this Decem-
ber, pending necessary approvals and permits,
officials said. Building construction would
begin after authorization from all necessary
agencies dealing with issues such as zoning,
design, and permits.
Projected costs for the project, including
infrastructure, total $120 million. More than
$82.5 million is expected to be raised
through philanthropy to pay for building
costs, Boyd said.
As of July 30, pledges to the new
McDonough School building
total more than $56 million.
Building Features
While plans are subject to revisions, pending
zoning approval, fund raising and other details,
the buildings current design includes:
Seminar-sized classrooms
More faculty office space
Tiered classrooms
Larger facilities for career management
and student services
Common areas and space for studying
and small group meetings
An auditorium that would serve the entire
Main Campus
An outdoor terrace connecting the new
building to the Leavey Center
Wireless computing access.
alumni connections*
Benefits and Services for McDonough School of Business Alumni
Online Community
hoyasonline
Visit hoyasonline and update your contact
information, access email forwarding, search
the alumni career network and more!
www.georgetown.edu/alumni
Alumni Career Services
Career Advice From hoyasonline Career
Network Members
Search all Georgetown University alumni
and talk with alumni who have agreed to
offer advice in selected career fields. You
may also do an Advanced Search by class
and employer.
www.georgetown.edu/alumni
Career Tools
Available to Career Network members
(All MBA/IEMBA alumni are members)
Access premium research databases, an
exclusive Web search engine covering more
than 100,000 company job sites and useful
tips on conducting an effective job search.
Enjoy a special relationship between
Georgetown alumni and Lee Hecht Harri-
son, located in 50 states and 20 countries.
To join, go to hoyasonline and select
Alumni Career Services.
www.georgetown.edu/alumni
Global Workplace MBA & IEMBA Class Programs
An international career management and Class officers prepare electronic newsletters
development platform for alumni of the and help in reunion organizing and the
worlds top 50 business schools. Join and schools fundraising efforts. Volunteers are
search a database of international jobs, access being sought for all classes. Contact Robert
salary surveys and discover tips on finding a P. Johnson at (202) 687-3738 or
job in the worlds key employment markets. johnsonr@georgetown.edu.
msb.georgetown.edu/mba/alumni
Class Reunions
Online Job Postings Reunion Weekend was established to cele-
The MBA/IEMBA alumni job board is for brate the 5-year anniversary of classes each
McDonough MBA and IEMBA alumni. June. Reunion 2005 runs from June 35,
For more information, visit the MBA and 2005. Undergraduate alumni should contact
IEMBA Alumni Web site. Matthew T. Lambert at (202) 687-4336 or
msb.georgetown.edu/mba/alumni mtl6@georgetown.edu. MBA and IEMBA
alumni should contact Robert Johnson at
Other online job postings are also available
(202) 687-3738 or johnsonr@georgetown.edu.
through Monstertrak, Monster.coms
executive site, 6FigureJobs.com, ExecuNet
MBA & IEMBA Alumni Groups
and Degree Hunter.
msb.georgetown.edu/mba/alumni McDonough MBA and IEMBA alumni
groups have been established across the
Individual Career Counseling United States and overseas with a focus on
networking functions, including relation-
For MBA & IEMBA Alumni
ships with alumni from other business
Schedule up to two one-hour sessions with
schools.
a career counselor and discuss issues such as
msb.georgetown.edu/mba/alumni
career transitions, job search strategies and
resume development.
University Alumni Clubs
msb.georgetown.edu/mba/alumni
Forty-seven Georgetown University alumni
Wall Street Alliance clubs exist worldwide. The clubs serve as an
excellent way to meet other university
Create and participate in networking
alumni and offer a variety of activities of
opportunities for financial professionals
particular interest to McDonough School
and graduating students. Contact the
alumni.
Wall Street Alliance at (212) 704-0884.
www.georgetown.edu/alumni
Entertainment and Media Alliance
University Alumni Special Services
Foster and support career development
The University Alumni Associations special
for alumni and current students within the
services include an alumni credit card
media and entertainment communities.
through MBNA, alumni travel opportunities
www.gema-hoyas.org
worldwide, and low-cost life and medical
insurance.
Alumni Clubs Career Programs
www.georgetown.edu/alumni
The Georgetown University alumni clubs
offer career-related programs, such as work-
shops and panel discussions featuring alumni
who have made career transitions.
www.georgetown.edu/alumni
* http://msb.georgetown.edu/alumni
* http://www.georgetown.edu/alumni
McDonough Business 25
 will oversee the business functions

alumninotes of the league, including its adver-

tising, broadcasting, marketing,

undergraduate merchandising, player programs

and communications activities.
Sarnoff was previously chief oper-
ating officer at VH1 and CMT.

egy for the broadband group. She

68
Robert L. Andrews (B68, L71) is
a 2004 recipient of the John Car-
roll Award from Georgetown Uni-
versity. See profile this page.
Alumni Notes are accepted on a first-
was previously a senior promotions
manager at The Coca-Cola Com-
pany in Atlanta.
The lives, careers and generosity
of V. Neils Agather and his wife,
Elaine, are the subject of a profile
86
Joseph Carbonara III and wife
Laurie announce the birth of their
second child, Caroline Allyn, in
March 2004. Joe and Laurie live in
Jacksonville, Fla., where Joe is con-
troller for LandMar Group, LLC, a
regional real estate developer, and

come, first-served basis because of
space constraints. MBA and IEMBA
alumni should send notes via email
72
in the Fort Worth Business Press Laurie is a full-time mom to Caro-
(2/27/04). In December 2003, line and 3-year-old brother Joseph.
Agather was appointed executive
John D. Bowlin, former president

to the class correspondent indicated.
Otherwise, email your notes to
msb-news@msb.edu,
or send them to Editor, McDonough
Business, Georgetown University,
206 Old North, Washington, D.C.,
20057, or fax them to (202) 687-2017.
We do not accept engagement
or pre-birth announcements.
Posting notes on hoyasonline is
another option. Go to
www.georgetown.edu/alumni
and click on My Information
in the upper left corner.
88
director of the Burnett Foundation,
and CEO of Miller Brewing Com-
where he manages more than
pany, was elected to the Board of
$250 million in assets.
Directors of global consumer prod- Dominic P. Morandi started the
ucts company Rayovac Corp. legal search firm of Morandi, Taub
80 & Sarnoff LLC in October 2003.
77
Kevin M. Lasater was named
Thomas J. De Rosa was
appointed an independent director
The firm, located in Manhattan,
focuses on attorney placement at
law firms and corporations both
of Health Care REIT, Inc., a real nationally and internationally. Pre-
vice president of operations in the
estate investment trust that invests viously Dominic was an attorney at
manufacturing business unit of
in health care facilities, where he New York Life Insurance Company.
Alberici Constructors, where he
will serve on the audit, investment, Dominic and his wife, Danielle,
will be responsible for the manu-
nominating and planning commit- have a 2-year-old son, Dominic.
facturing and food-and-beverage
tees. De Rosa is the vice chairman
market segments as well as con-

90
and chief financial officer of The
tributing to business development
Rouse Company.
and marketing.
Brian L. Collins has joined Harbor

79
Smiti Kumar started work at
America Online, Inc. in September
2003 as director of creative strat-
83
Ann Misaszek Sarnoff has taken
a new position as chief operating
officer of the Womens National
Basketball Association, where she
Capital Advisors, Inc. as executive
vice president and chief invest-
ment officer. He will be responsi-
ble for researching and
recommending prospective invest-

Alumnus Honored for Distinguished Service

Robert L. Andrews (B68, L71) received Georgetown Universitys 2004

John Carroll Award for distinguished lifetime achievement and service to the
university. Named after Georgetowns founder, the John Carroll Awards are
given annually to Georgetown University alumni who have honored their
alma mater and contributed significantly to the betterment of society and
the nation through community service efforts and career accomplishments.

Andrews is vice president of Private Capital Advisors, a registered investment

adviser in Darien, Conn. From 1995 to 2001, he served two terms on George-
towns Board of Governors. He has served as the Governors ambassador
to the McDonough School of Business since 1999. He also has served as the
fund chair for the Class of 1968 every year since 1993. He is chair of the Alumni
House Renovation Founding Members Wall Program, spearheading fund
raising to renovate Georgetowns Alumni House. His other charitable work
includes supporting the National Kidney Foundation and Chaminade High School in Mineola, N.Y.

26 McDonough Business
ment managers as well as analyz-
ing managers and investment per-
formance of Harbor Fund and the
defined benefit pension plan assets
advised by Harbor Capital Advisors.
He was previously director of U.S.
investment manager research for
Mercer Investment Consulting.
James Quick and wife Melinda
announce the birth of their daugh-
ter, Holly Fiona, born in February
2004. James is a software engineer
and project manager for CACI, Inc.,
where he works on a project for the
Navys SPAWAR division. James,
Melinda, daughter Elise, and baby
Holly reside in Virginia Beach.
Brian Tramontozzi and wife Jen-
nifer live in Bedford, N.Y. with their
newborn son, Luke Christopher,
and Black Labrador Shelby. Brian is
a managing director in JPMorgans
High Yield Capital Markets group
in New York.
96
Michael G. Rand was named man-
aging director at Gordon Brothers
Group, LLC, a retail finance and asset
management firm. Rand is a principal
of GB Palladin Capital, a provider of
creative debt financing to middle-
market consumer product companies.
Jeff C. Settembrino was promoted
Life After Georgetown
For Benjamin K. Smith (B99), life after Georgetown
means Life After Skippy.
Skippy is a television
comedy that Smith helped
to create and now is help-
ing to pitch as a producer
with Metropolis Entertain-
ment in Manhattan.
Metropolis, a young pro-
duction company, hopes
Skippy will become part
of the next wave of pro-
gramming, Smith said.

91
Irina Sturan Shea (B91, L95) and
to the position of director at Trivest
Partners, L.P., a Miami-based private
investment firm.
He described the genre as
hybrid TV, a marriage between reality show and situation
comedy. Skippy is about the former child star of the short-
Timothy S. Shea (L94) announce lived sitcom Life with Skippy, who makes cold calls from a
Mark Vlasic (B96, L00) returned
the birth of their first child, Aidan telemarketing boiler room while trying to resurrect his acting
from three years in the Netherlands,
Luis, in July 2003. They are living
where he was studying on a Nether- career. It evokes the feel of a documentary by having actors
happily in Saddle River, N.J.
land-America Foundation fellowship improvise from the script.
and working as a prosecution lawyer
Metropolis created Skippy as an alternative to sitcoms,
at the UN War Crimes Tribunal in The
Hague (where he served on the Milo- which seem to be dying, and reality shows, which are being
sevic trial team). He is now in Wash- overdone, Smith said. Inspired by the British show The
ington, D.C. working as an associate Office, Skippy is inexpensive to produce, a selling point for
at Gibson, Dunn & Crutcher LLP, cable networks.
where he supports the firms public
Metropolis sold one stop-motion show, The Wrong Coast,
policy, litigation and international
trade groups. to the American Movie Classics cable network, but it has not
yet been aired. Another hybrid, depicting a small-town tele-

97
vision news operation, is in early stages of development.

In his spare time, Smith, a marketing major, sells comic book

Jay O. Wright was named
officer/secretary of Miami-based
Global Triad, Inc., a digital commu-
nications holding company. Wright
is president and chief executive
officer of MobilePro Corp., a wire-
less technology and broadband
Internet services company based in
Bethesda, Md.
Kelley M. Sullivan married Brian artwork through his gothamcityart.com Web site.
A. Bolten in December 2003 in
Short Hills, N.J. Kelley is a market-
ing manager at Chelsea Property
Group in Roseland, N.J. The couple
Three Alumni Receive Gaston Awards
resides in Englewood, N.J.
Melissa L. Bradley (B89), Peter W. Mellen (C89, MBA98), and John K.
99
Benjamin K. Smith is a producer
Reagan (B84) were honored by the Georgetown University Alumni Associ-
ation with the universitys 2004 William Gaston Awards. The William Gas-
ton Award recognizes outstanding service by graduates of the schools on

92
William J. Gaus joined the invest-
with Metropolis Entertainment in
New York. See profile this page.
Georgetowns Main Campus. It is named for Georgetowns first student.

Bradley, Mellen and Reagan have exhibited leadership in many ways.

ment banking firm of Leerink
Swann & Company as director of
NASDAQ trading. He was previ-
ously a NASDAQ trader at Pruden-
tial Securities.
01
Khary P. Robinson has started two
new ventures back home in Jamaica.
International Data Processors provides
outsourcing solutions to U.S.-based
Bradley has served as chair and cofounder of the Georgetown University
African-American Advisory Board, as a board member of the Georgetown
Womens Center, as a volunteer speaker for the MBNA Career Center, and
as an alumni admissions interviewer. Mellen has served as chair of the Class
of 1989, as co-president of the Georgetown Club of Metro Washington,
D.C., as an active member of the Board of Governors, and as a driving
force behind hoyasonline. Reagan has been an active member of Hoyas

94
Richard R. Heitzmann (B94) has
rejoined Pequot Capital Manage-
ment, Inc. as senior vice president,
where he will focus on investing in
the software and services sector.
corporations, and TropicalPhones
is a provider of cellular services to
Jamaicans traveling abroad as well
Unlimited, the Board of Governors, the Alumni Admissions Program, the
Career Network, an avid supporter of Georgetown athletics through
HoyaSaxa.com, and a leader in the Georgetown Club of North Texas.
as foreigners visiting the island.
Robinson was previously an analyst
in the General Industrial Group
at Banc of America Securities in
New York.
McDonough Business 27
alumninotes
mba
84
James Schroer served as the Class
of 1984 reunion chair.
89
Class Correspondent:
Volunteer Needed
Jeanne S. Jennings served as the
Class of 1989 reunion chair.
90
Class Correspondent:
Lorraine Herr
herrdesign@aol.com
J. Richard Carlson was appointed
president and chief executive offi-
cer of Wireless Matrix Corporation,
a Canadian-based developer and
provider of wireless data services
for mobile workforces and remote
assets.
91
Class Correspondent:
Mary Pat Blaylock
mpblaylock@comcast.net
Hello from your missing-in-action
class agent. Everyone please
note my new email address:
mpblaylock@comcast.net.
Please send news to me and I will
forward it to the McDonough Busi-
ness magazine editors. The maga-
zine is only published twice a year,
so news travels slowly.
Layla S. Kashani married Nick van
der Heyden, and the couple resides
in Monte Carlo. Georgetown MBAs
in attendance at the wedding inclu-
ded Christine M. Szuszkiewicz
28 McDonough Business
(MBA90), Mohab T. Khattab
(MBA90), Mary Jean Duran
(MBA91), Lisa M. Ball Ghezzi
(MBA91), and Robert W. Torres
(MBA90).
93
Class Correspondent:
J. Jordan ONeill
jjo6@georgetown.edu
Genevieve Needham Roberts
was awarded the 2003 Tri-Cities
Woman of the Year Award from
the River City Express Network of
the American Business Woman
Association. Genevieve was
selected for this award on the
basis of her notable contributions
and outstanding achievements in
the areas of participation, educa-
tion, career accomplishments and
community involvement. The River
City Express Network represents
the cities of Richmond, Petersburg
and Glen Allen, Va. Genevieve is
one of three founders and manag-
ing principal of The Titan Group
LLC, a Richmond-based human
resources consulting firm.
J. Jordan ONeill joined First
Horizon Bank as senior vice presi-
dent and commercial lender and
will be responsible for building a
portfolio of loan participations tar-
geting publicly traded REITs.
ONeill previously worked for
Chevy Chase Bank as a vice presi-
dent where he underwrote, nego-
tiated and closed structured real
estate loans.
94
Class Correspondent:
David N. Gee
david@geefamily.com
Paul F. and Jane Dawkins Murphy
served as Class of 1994 reunion
chairs.
Michael A. Harman proudly
announces the arrival of Hailey Vir- headed to China and were in
ginia, born in November 2003. Shanghai at the same time as David
Brother William is proud of his
new title of big brother, and
daddy is saving for the wedding!
Gee, who they met for a drink and
to catch up on old times.
Jane and Paul F. Murphy had
Michael is manager of global
their third daughter, Emily, in Sep-
alliances in the Structured Finance
tember 2003. Emily joins big sisters
Group at Daimler Chrysler Services.
Kathryn and Margaret, ages 5 and
3. Paul is enjoying his harem.
David E. Goldberg was promoted
to vice president of corporate and
brand strategy and treasurer of
Choice Hotels. This means he over-
sees strategic planning, brand
management and some finance
functions. Family is also doing great:
Sam is in first grade, Zoey just
turned 4, and Marni is doing well.
Christopher J. Hewitt
Alona B. Ponomareva and hus-
(JD/MBA94) was promoted to
band Steve Smith are now proud
partner in the Cleveland office of
parents of twins! Lilia Alexandra
the international law firm Jones
Day. Hewitt, whose practice and Sabina Marie were born in
focuses on mergers and acquisi-
tions, joined the firm in 1997.
August 2003 and have since been
keeping mom and dad very busy.
Alona reports: It is amazing how
your life changes with the arrival of
kids, especially if it is two at once
it is a constant juggling act.
Dont know how we managed to
fill our time before. In other news
(much less important), I was pro-
moted last year, to senior invest-
ment officer in the Treasury
Department of the World Bank,
investing the Staff Pension Plan
Andrew D. Dyer was recently ($11 billion) in private equity and
appointed chief operating officer real estate.
of SMS Management and Technol-
Kristen Fossgreen Staples has
ogy, an Australian company with
gone back to work full-time at
operations in Australia, Asia and
Sprint Government Systems Divi-
Europe. He and wife, Theresa,
sion in marketing. She likes the
have just completed their third vin-
work and is very busy, but still
tage at their vineyard and winery,
working on how to balance work
Jallukar Ridge, located in western
and kids/home.
Victoria. He recently caught up
Robert Wade Speir reports that
with David Gee during Gees
he bumped into Marc S. Gross
quick trip Down Under.
and family in London earlier this
Anita and Andrew F. Drew
year. Robert saw pictures and plans
Schwartz are traveling the world
for their fabulous renovated
(lucky them!) for a few months.
monastery in Umbria. Perhaps we
They stopped in India and stayed
can rent it for the 20th Reunion?
with Manish Agrawal and Anees
R. Sultan in Cairo. They then
Robert sees Ryuta Sato and
Ronald A. Drozd quite frequently
in Princeton. He is living in the area
and back doing pharmaceutical
consulting for Kepner-Tregoe after
stints at Booz-Allen and a dot com.
Robert asks classmates to call his
cell phone if they are in town,
(646) 229-2997.
David Gee met up with Stan
Beraznik at a local Bay area fund-
raiser for the first time in nearly ten
years in early May 2004. Stan is a
private banker with Citigroup in its
Palo Alto office.
Karen Chmar London gave birth
to Sidney Reese London in October
2003. Both Karen and her hus-
band, Steve, are absolutely nuts
over their little girl. Karen took a
few months off but is still working
at Nextel Communications.
Bella Wong Konstantinidis is
working as manager of marketing
and analysis at Safeway (the For-
tune 50 grocery chain). She is cur-
rently on maternity leave with
daughter, Taia Ji-Lik, who was born
in March 2004. Bella married Deno
Konstantinidis in September 2002.
Stephen Jordan reported that his
second daughter, Alexandra Crich-
ton, was born in January 2004. Her
mother, father and sister are all
doing fine.
Melissa Gilliland Frank and her
husband, Gary, are pleased to
announce the birth of their son,
Brendan, in October 2003. Big
Sister Caitlin, who turned 4 in May,
is very protective of her Little
courts in Hilton Head a couple
months ago. Small world!
Brian Porto and his wife, Cathy,
welcomed their first child, Haley
Anne, into the world in March
2004. Brian, Cathy and Haley live
in Bethesda, Md. Brian is vice presi-
dent of Tri-State Stone & Building
Supply, Inc. Tri-State recently quar-
ried and supplied the Carderock
stone that was used on the South-
west Quadrangle project at
Georgetown University. Carderock
Stone is also being considered for
Georgetown Universitys proposed
boathouse project.
Erich Meyer is a high-level execu-
tive at Alfa Alimentos in Mexico.
Eduardo Torres lives in Mexico
City and is an entrepreneur. He has
been married for two years.
96
Class Correspondent:
Matteo Recagni got married in
2002 to a Japanese woman named
Junko. They live near Ocean Beach
in San Francisco.
Adrienne Kuehneman launched
a new marketing communications
firm, Idea Promotions, in February.
The Washington, D.C.-based busi-
ness provides strategic advertising
solutions for companies, nonprofits
and political campaigns. Adrienne
and her husband, Gene, live in
Bethesda, Md., not far from his-
toric Glen Echo Park, and can be
reached at ade@ideapromos.com.
Michael Schmeltzer recently joined
Carlson Wagonlit Travel as director
of industry relations for the United
States and Latin America. Hell be
working out of his home in Philadel-
phia but going back and forth quite
a bit to the Minneapolis headquar-
ters. There also will be a good bit of
travel throughout Latin America,
and Michael hopes to see some for-
mer classmates there as well.

95
Class Correspondents:
Scott A. Shore and
Alison Daly Van Dyke
scott.alexander.shore@us.army.mil
and abvandyke@sbcglobal.net
Meaghan Mikos Gorski and her
husband, Paul, welcomed a son,
Ryan, in December 2003.
Pam Caldwell Nootbaar and her
husband Joe welcomed a daughter,
Taylor, in January 2004.
After a two year stint in New York,
Kathleen Bauersfeld moved back
to San Francisco in May to join
Wundermann.
Brother. Upon returning to work,
Melissa moved from developing
Tanqueray Gin to marketing the
Champagnes portfolio of Moet &
Chandon and Dom Perignon.
Needless to say, the Franks have
found many new occasions to cele-
brate with a bottle of bubbly!
Tony Corsello and his wife, Lau-
rra, welcomed their daughter,
Helena Jane, in December 2003.
She is doing great as are Mom,
Dad and big brother Marek. They
live in Seattle, Wash.
Adrian Aguilera is at Societe
Generale as head of the commodi-
ties group in Mexico.
Volunteer Needed
From Ken Cruse: In January, bas-
Beth Swaggart Dearing and ketball fans expecting to see a con-
John Dearing had their first child, test between the top ranked Duke
Alexander, in June 2003. The Dear- Blue Devils and the Georgetown
ings reside in Arlington, Va. Beth Hoyas were surprised to hear that
works for PricewaterhouseCoopers the Hoyas pulled out at the last
and John works for Virtual Strate- minute. Former Georgetown coach
gies, Inc. Craig Esherick cited a scheduling
Alumni Gather in Mexico City
Georgetowns Provost, James J. ODonnell and Professor Dennis Quinn, who
is now directing the Latin America Initiative, visited Mexico the first week of
March 2004. Several McDonough School alumni, including Manuel Gonzalez
(MBA95), Samuel Robfogel (MBA02) and Adrian Aguilera (MBA95), were
invited to a dinner at the home of Lola and Luiz Aziz (LLM93).

Faysal Hamza and his wife, Roula, Manuel Gonzalez continues to

had a son. work in Rabobank, where he began

Kerri Olson and family moved
back to Washington, D.C. in the fall.
They are living in Bethesda, Md.
Stephanie Scherr Olson (C90, L95,
MBA95) is living in New York City
with her husband, David, and daugh-
ter, Juliet. Stephanie is senior vice
president and assistant general coun-
sel of National Financial Partners
Corp., a financial services firm. Steph-
anie started at NFP in 2000 acquiring
independent financial services com-
panies, and in 2003 shifted her focus
from mergers and acquisitions to tak-
ing the firm public and affecting a
secondary follow-on offering.
right after graduation. He is second
in command for the Mexico office.
Scott Geltz resigned from America
Online, Inc. (where he worked
from the day he graduated in May
1995 until summer 2002) and relo-
cated his family to Hilton Head
Island, S.C. He and his wife, Kim,
have two daughters, Jessica (6)
and Samantha (3), and a son,
Coulson (9 months). They are reno-
vating a home in Sea Pines on the Manuel Gonzalez (MBA95), Samuel Robfogel (MBA02), Jorge Cervantes (R68),
south end of Hilton Head Island. Adrian Aguilera (MBA95), Professor Dennis Quinn, Provost James J. ODonnell,
Scott bumped into Jennifer John- Lola and Luis Aziz (LLM93), Jorge Ortega (MPP93), Luis Gonzalez Nieves (L93)
son (maiden name) on the tennis and Ernesto Rubio (L92).

McDonough Business 29
alumninotes Continental Drifter

People might be surprised to

mba hear a California girl speak

conflict: We promised the team
that if they beat the Citadel we
would take them out for a swim
party, and unfortunately, January
24 was the only day we could
book the pool. . . Thankfully, the
game went on as planned when
five MBAs Clay Buckley, Carter
Austin, John Dearing, Mike
Bress and Ken Cruse agreed to
step up against the Duke starters.
The contest ended in a victory for
the Hoyas after Duke coach Mike
Krzyzewski, in a typical understate-
ment of opposing talent, directed
Chris Duhon to inbound the ball
directly to Mike Bress, who darted
the length of the court for a
smooth tomahawk dunk to the
cheers of the roaring sold-out MCI
Center crowd.
Colleen Parent Zarate and her
husband, Al, welcomed their second
child, Andrew Simpson, to their
family in September 2003. He joined
big sister Katie, who is now 4.
Colleen continues to work in prod-
uct development at British Telecom
in Reston, Va.
Pankaj Gupta and his wife had a
daughter, Aashna, in November
2002. Pankaj is still at the World
Bank in the project finance and
guarantees unit. He is working on
projects in Laos and West Africa.
His wife is practicing endocrinology
in Maryland.
97
Class Correspondent:
Andrea H. Alexander
andrea.alexander@pfizer.com
ing at Pfizer, Inc. Andrea is working
on the US Cox-2 team on both the
Celebrex and Bextra products.
Adlai Hardin III married Elisabeth
Ann Besio of Alexandria, Va., in
April 2004. Adlai is still practicing
law with the corporate restructur-
ing group at Skadden Arps.
Abby Weinstock and Shawn
Sefret were married in New Jersey
in February 2004. Abby and Shawn
are now living in Pikesville, Md.
and would love to hear from
Georgetown friends. Abby can be
reached at wmgaj@aol.com.
Michele Joseph is CEO and presi-
dent of Klick Consultants LLC, a
Silver Spring, Md.-based marketing
consulting group (www.klickcon-
sultants.com). Michele serves on
the Board of Directors of the
Women Business Owners of Mont-
gomery County. She is a member
of the Economic Development
Committee and the Information
Technology Working Group for the
Innovation Center for the Greater
Silver Spring Chamber of Com-
merce and the American Market-
ing Association. She is an adjunct
professor with the graduate and
undergraduate programs at the
University of Phoenix (Maryland
campuses), where she facilitates
class sessions in marketing, public
relations and strategy. She and her
husband live in Silver Spring, Md.,
with their son.
fondly of Siberia. But thats
just one remarkable fact about
Michele E. Konrad
(MSFS/MBA02), who left high-
school early, speaks four lan-
guages, co-authored an
economics book with a former
Georgetown adjunct, and now
helps BP evaluate business
opportunities in Russia.
It is really cold in the winter,
Konrad said of Siberia. But
the people are extremely
friendly. The natural resources are incredible. A lot of it is still
unspoiled. And theres kind of a simple pace to life, maybe
the way America used to be on the frontier.
Konrad, who grew up in the San Francisco area, does miss
Californias mild climate, especially when she is in London,
where she works at BP headquarters, and in Russia, where
she travels frequently on business. But she finds her work in
those places exciting.
The quality of people who work for BP is great, she said.
Its an environment where you can make things happen.
Youre not locked into one niche for your whole working life.
People are willing to listen to your ideas.
Konrad joined the Army Reserves at age 17 and served eight
years, two on active duty, including a stint at the U.S.
Embassy in Ukraine. She earned a GED credential, then
learned Russian at the Defense Language Institute. She also
speaks French and Mandarin Chinese.
Konrad earned a B.A. in English at the University of Virginia.
She also studied at Oxford and Beijing universities. While at
Georgetown, she co-authored, with Daniel R. Kazmer, Eco-
nomic Lessons from the Transition: The Basic Theory Re-
examined, published by M.E. Sharpe in January. The book
argues the transition from communism to capitalism didnt
go well in the former Soviet Bloc, not because mainstream
economists advice wasnt followed, but because it was the
wrong advice, Konrad said.

Grant Pickering was promoted to
senior vice president of operations
at Dendreon in August. He now
has responsibility for manufactur-
ing along with his other duties.
The company is preparing for the
launch of their lead product,
Provenge, a therapeutic vaccine for
prostrate cancer. Grant, Kristi, Ben
and Claire are all doing well.
Andrea Alexander has recently
changed companies. She is now
based in New York City and is work-
30 McDonough Business
Andreas Suma left consulting and
commuting to Brazil and is now
working at Fannie Mae again in
Washington, D.C. He resides in the
District with his wife, Patricia.
Andreas recently attended Jeremy
Akels wedding in Merida, Mexico.
Also in attendance were
Demetrios Diavatis, Reid
Rusty Heffner III, Martin
Riezebeek and Sebastian von
Stauffenberg. He invites anyone
to visit him in the District when
they are in town.
98
Class Correspondent:
Brian R. Knox
bknox@hess.com
Cindy and Robert Walley are the
proud parents of a beautiful baby
girl, Alexis Gayle, born in February
2004. Through an open adoption
Cindy and Robert took placement
of Alexis five days later. Robert,
Cindy, Alexis and their three dogs
live in Charlotte, N.C., where
Robert is a manager with Deloitte
& Touche. After 10 years with
Bank of America, Cindy has
started her new career as a full-
time mommy.
99
Class Correspondent:
Michael J. Pastore
pastmike@aol.com
Thanks to several blue chip con-
tracts that Hispanic Teleservices
Corporation (HTC) was awarded in
2004, Kit Cooper reports that he
expects the company will grow
from 600 employees in January
2004 to more than 1,000 employ-
ees by 2004. HTC provides
inbound customer service support
solutions to U.S. clients serving the
Hispanic market. The company
was ranked #16 in the top 50
International category for out-
sourced contact center companies
in Customer Interaction Solutions.
Lisa Kleinknecht served as the
Class of 1999 reunion chair.
00
Class Correspondent:
Volunteer Needed
Christian H. Chang is one of
three partners in Amadeus Corp.,
a Peruvian company that produces
Vortex, a new energy drink made
from the coca leaf. Vortex has
been featured in the New York
Times, Reuters and the Economist.
Monique V. Sinmao joined Crite-
rion Research Group, LLC, an inde-
pendent research firm covering
equities and bonds. Monique was
most recently a senior associate
with Lehman Brothers, where she
led coverage on select small-cap
bank stocks.
Michael Dupee (JD/MBA00) is
leaving Goldman Sachs and has
accepted a senior level position at
Green Mountain Coffee Roasters
in Waterbury Center, Vt., providing
leadership, direction, and execu-
tion for company practice, policy,
and strategy in the areas of corpo-
rate citizenship and corporate
social responsibility.
01
Class Correspondent:
Volunteer Needed
Jos Mara Nogueira Ramrez
was appointed economic adviser
to the housing minister in the new
government of Spain. He and his
wife, Sonsoles Gallego, are the
proud parents of daughter Blanca,
born in May 2004.
02
Class Correspondent:
Volunteer Needed
John G. Polevoy was appointed
associate, investment sales and
financial services at GVA Williams,
a full-service real estate firm in Par-
sippany, N.J. He previously worked
in the diversified asset and corpo-
rate real estate groups at Lehman
Bros. in New York.
Michele E. Konrad (MSFS/MBA) is
the co-author of a new book, Eco-
nomic Lessons From the Transition:
The Basic Theory Re-Examined (M.E.
Sharpe, February 2004).
See profile previous page.
03
Class Correspondent:
Peter P. Gasca
pgasca@pragma.kz
Read Petes report on classmates
serving in the Middle East, on the
next page.
Stacy and Todd Ries are pleased to
announce the birth of their daugh-
ter, Ashley, in August 2003. The
family lives in Wisconsin where
Todd works in brand marketing for
Kimberly-Clark Corporation, and
appropriately enough, has been
assigned to the Huggies diapers
brand.
04
Class Correspondent:
Volunteer Needed
Ada S. Polla has expanded her
familys medical skincare business,
Alchimie Forever. See profile
this page.
More than Skin Deep
Ada S. Polla (MBA04) always
knew she wanted to be in the
family business the medical
skin care business. The eldest
daughter of Swiss/Italian doc-
tors that transformed their der-
matology practice into a
beauty institute and a line of skin care products, Ada used
her post-college job experience working for a Barcelona-
based technology consulting firm to develop some business
skills. She forged key relationships with dermatologists by
working as a product manager for one of the largest laser
manufacturers for dermatology applications. Then, seeking to
boost her finance acumen and build a solid base of knowl-
edge from which to launch a business, she enrolled in
Georgetowns MBA program.
Knowing exactly what she wanted to do made her MBA
experience all the more useful. She leveraged the resources
and brainpower of her entrepreneurship project team to
develop and refine the business plan, financial model and
sales strategy for Alchimie Forever, LLC, the U.S. distributor of
the Alchimie Forever skin care line developed by her parents,
who also own the Forever Laser Institut spa in Switzerland.
People always told me that one of the best things about
business school is the people you meet, Polla said. I agree.
My teammates were absolutely amazing.
Now that shes graduated, Ada is working on expanding her
business along the East Coast and to the West Coast, distrib-
uting the products through medical channels.
The challenge for me now will be to grow, she said, but she
has a strong support network in her family. Im very fortunate
that if I dont know what to do, or I need to bounce ideas off
of someone, I can use my parents as a resource. They are
absolutely key.
For more information about Alchimie Forever, go to
www.alchimie-forever.com.
HoyaJobLink
The MBNA Career Education Center has a new
online system for job and internship listings and
the on-campus recruiting program for undergradu-
ate students. HoyaJobLink was created to connect
Georgetown students and alumni with current job
openings and internship opportunities.
http://careerweb.georgetown.edu/hoyajoblink/
McDonough Business 31
S P E C I A L R E P O R T:
MBAs in the Middle East
By Peter P. Gasca (MBA03)
While most classmates armed themselves
with leather briefcases and Mont Blanc
fountain pens when preparing to do battle in
corporate offices around the world, Alberto
Abadia (MBA03) and Ryung Suh (M98,
G98, MBA03) took up helmets and cam-
ouflage flack jackets and chose a different
battleground. Both worked abroad in the
freedom and reconstruction efforts in the
Middle East.
Before the excitement of graduation could
set in, Ryung Suh had business to attend
to. In July 2003, shortly after the start of
Operation Enduring Freedom, he left
Washington, D.C. for the battlefields of
Kandahar, Afghanistan to support the U.S.
efforts. Armed with his M.D. and M.P.P
degrees from Georgetown, he has been serv-
ing as a flight surgeon in the U.S. Army.
Ryungs service, however, was not limited to
the borders of Kandahar. As a flight surgeon
here, I have participated in many combat
aerial flights in support of multiple military
operations - often in Blackhawk or Chinook
helicopters with Apaches pulling security,
he said. We often do combat medical oper-
ations, which includes traveling out to local
villages and providing humanitarian medical
assistance.
Abadia at the former Presidential Palace of
Saddam Hussein. Baghdad, Iraq.
32 McDonough Business
Although the assignment in
Afghanistan has proven to
be extremely dangerous, he
has found the experience to
be rewarding. While it has
been a sad experience in
dealing with the casualties
and accident victims that
come through our medical
facilities, Ryung says, the
children are always excited
and happy to see us, and we
do seem to be winning the
hearts and minds of many.
When asked about his
future plans after his service Suh and an Afghan patient in combat medical operations.
to his country, which ended Ghabi Kalacha, Afghanistan.
this summer, Ryung states,
I am hoping to return stateside and to I eat at Saddams Presidential Palace, in the
resume my career like the rest of my class- most luxurious auditoriums that I have ever
mates. After this past years experiences, been in my life, but in strange and weird
however, I definitely have a greater apprecia- contrast. My plastic knife is always softer
tion for the joys of any job back home, close than my steak and my Coke is hot.
to family and friends.
When asked if his assignment in Iraq was
Unlike Ryung, Alberto Abadia chose to pur- something he expected to do after graduation,
sue a position in corporate America after Alberto stated, When I was flying back from
graduation as a senior business development [my Global Experience in] Ho Chi Minh
and support adviser at Bearing Point. He City, the same day of Bushs deadline to
has, however, recently volunteered to work Hussein, I could not even imagine that, just
in support of the recovery efforts in Bagh- one year later, I would be working at Saddams
dad, Iraq alongside several other consultants Presidential Palace.
from around the globe. He worked to
Amidst the difficult working conditions in
develop comprehensive business plans and
Iraq and the countrys uncertain future,
sound financial strategies for companies try-
Alberto has found the work fulfilling and
ing simply to survive the instability and
has remained optimistic. I hope that we will
uncertainty that has gripped Iraq. Alberto
be able to really provide some in-depth sup-
also worked closely with business entrepre-
port to Iraqi entrepreneurial ventures, which
neurs to apply for soft business loans from
may result in a more long-term prosperity
the new Iraqi Government and the U.S.
for this country, he said. Thats the reason
Agency for International Development.
why I came here.
The working conditions are much different
Alberto and Ryung are appreciative of the
from what Alberto expected after business
support of their families, friends and col-
school. In Baghdad, business attire means a
leagues, as assignments like this are difficult
helmet and armored vest, Alberto said. He
to pursue alone. Ryung said, The supportive
left for Baghdad in April 2004 for his four-
emails from classmates, in some cases unex-
month assignment. We always move by
pected, have been very valuable to me, and I
armored car, Alberto reports. My office is
am thankful. I send my warmest wishes to all.
surrounded by two lines of sandbags, and I
heard five explosions in my first seven days.
alumninotes
iemba
96
Class Correspondent: Thomas
J. Arnsperger
tarnsperge@aol.com
Its confirmed: Heidi Biggs married
Charles Fuller Brock in November
2003 in Seattle, Wash. If that isnt
enough news, Heidi has been pro-
moted to vice president of federal
and international affairs for Wey-
erhaeuser Company. By the time
this is published the Brocks will
have moved back to the Washing-
ton, D.C. area. Welcome back
Heidi, and congratulations.
There is more news of promotions
and relocations for the class. Greg
Spierkel has been promoted and
relocated to Ingram Micros world
wide headquarters in Orange
County, Calif. Greg reports that
they bought a home in Laguna
Hills, so for the first time since
graduating from Georgetown the
Spierkels are returning to the
United States. Oh, about Gregs
promotion: In March, Ingram Micro
announced that it had promoted
Greg to corporate president,
reporting to Chairman and Chief
Executive Officer Kent B. Foster.
Greg has joint responsibility for the
overall operating performance of
the company. In addition to com-
pany-wide responsibilities, Greg will
focus on the European and Asia-
Pacific regions. Previously he was
president of Ingram Micros North
American and European regions.
I just heard from Rich Vinci. He
left New York and is managing
director at Newbury, Piret & Com-
pany, Inc. in Boston. He and Jackie
are now living on the Atlantic
Ocean on Bostons North Shore in
the picturesque, historic town of
Manchester by the Sea. Rich told
me he is keeping pretty busy. In
addition to working on a number
of charitable endeavors, complet-
ing his second year of a masters
degree in financial management at
the University of London Business
School, being a member of the
Georgetown alumni admissions
committee for Boston, and helping
close a number of significant
transactions (FYI: his firm was
profiled as the cover article in M&A
Todays June issue), Richard and
Jackie just welcomed their first
child, Andrew Campbell, who
arrived last December. Congratula-
tions to both Rich and Jackie.
Constantine Symeonides-Tsatsos
died in May after a five-year battle
with brain cancer.
97
Class Correspondent:
Lynn A. Miller
MlleMiller@aol.com
98
Class Correspondent:
Deborah Weil
dw@wordbiz.com
Linn Donaldson was presented
with a 2004 Service Award by
Georgetown University in recogni-
tion of her 20 years of service.
99
Class Correspondent:
Alphonse Iudicello
ai@ngpcapital.com
Alphonse Iudicello served as the
Class of 1999 reunion chair.
00
Class Correspondent:
Daniel I. Gallagher
daniel_i_gallagher@raytheon.com
James F. Barter is working as a
medical consultant with a start-up
biotech company located in
Bethesda, Md., that has an
approach utilizing the serum pro-
teome. Jim says the companys
approach could lead to a break-
through in cancer screening,
particularly for ovarian cancer. Jim
reports that he would never have
been able to understand starting a
business without the McDonough
School and all the great students
and teachers in his class. Elaine
Romanellis strategy course was
very helpful!
Craig L. Collins has recently
moved back to Washington, D.C.
from Portland, Ore., where he was
appointed executive vice president
of managed services at XO Com-
munications. See profile next page.
01
Class Correspondent:
Robert C. Wagoner
robert.c.wagoner@saic.com
Elizabeth Aguirre moved to a
new position as an analyst at the
Pension Benefit Guaranty Corpora-
tion. PBGC is a federal govern-
ment corporation established by
Title IV of the Employee Retire-
ment Income Security Act of 1974
(ERISA) to encourage the continu-
ation and maintenance of defined
benefit pension plans, provide
timely and uninterrupted payment
of pension benefits to participants
and beneficiaries in plans covered
by PBGC, and keep pension insur-
ance premiums at the lowest level
necessary to carry out the Corpo-
rations objectives. The corporation
protects the retirement incomes of
nearly 44.3 million American work-
ers in more than 31,000 private
defined benefit pension plans.
Piers Bocock reported the arrival
of two future IEMBAs in February
when his wife, Katie, gave birth to
Toby and Leo. The twins arrived a
few weeks earlier than planned,
but Piers reports everyone is doing
fine. He adds the Bocock house-
hold is now completely out of con-
trol with three boys within 18
months of each other: Stockhold-
ers now control the show, and
upper management is drowning,
but its all lots of fun.
Brian Knapp left the government
after 18 years of service in Sep-
tember 2003 and joined the
Cohen Group, an international
strategic business consulting firm
located in Washington, D.C., as an
associate vice president. Founded
in 2001 by former Secretary of
Defense William S. Cohen, the
company helps Fortune 500 clients
deal more effectively with the fed-
eral bureaucracy, either by market-
ing products or solving problems
with regulation. Brian is excited by
the opportunity to tackle subject
areas beyond defense and work
with numerous clients and compa-
nies. He claims hes putting his
MBA to good use facing the chal-
lenges associated with the private
sector. The Cohen Groups web
site is www.cohengroup.net,
where you can see a good picture
of Brian and prominent mention
of the Georgetown MBA in his
biography.
David Long joined the Commerce
Department in a senior trade pol-
icy position where he heads up
the Office of Services Industries.
Dave reports hes been very happy
since February 2004 when he
made the move and enjoys the
mix of international trade policy
issues and management. His office
plays a lead role in developing and
negotiating trade positions regard-
ing the services industries (other
than telecom, which was part of
the attraction in coming back to
government) for the WTO and FTA
negotiations. His office is also
doing more domestic competitive-
ness analyses for the services sec-
tor in the United States.
Tom McCaffery resigned from his
former company and reincorpo-
rated as McCaffery & Associates.
Tom reports all the employees and
contractors of the former com-
pany came with him and he was
back in business within a matter
McDonough Business 33
of days no phones or computers
but a lot of excitement. Things
have now settled down and his
company is back to doing research
for law firms and Fortune 100
companies. If things go well, he
hopes to have more than $1 mil-
lion in revenue for his first year,
which isnt bad for a company
operating out of a basement and
communicating by email. For Tom
the most important class from
Georgetown was marketing the
4 Ps and delight the customer
support a steady stream of cus-
tomer referrals. His web site is
www.mccafferyassoc.com.
David Messina was recently
appointed director of information
management for the Geospatial
Solutions business area in Lockheed
Martin. With this move Dave com-
pleted a two-year assignment at
Lockheed Martin corporate head-
quarters in Bethesda, Md., and
returns to an operating business
unit. In his new position, Dave is
responsible for more than $150
million in contracts supporting the
National Geospatial-Intelligence
Agency and related customers. His
office is in Reston, Va.
Bob Wagoner moved to a new
position within SAIC as vice presi-
dent and director of maritime pro-
grams in the advanced systems and
technology division based in Arling-
ton, Va. In his new role, Bob man-
ages various classified undersea
warfare programs and is responsi-
ble for business development in a
broad range of maritime areas.
E-mail updates:
Stephanie Cinocco was named
Slam Dunk director of national service and
Craig L. Collins (IEMBA00) repair at Nextel Communications
is the turn-around czar in April 2004.
of Reston, Va.-based S. Robert Landow and Arlyn
telecommunications firm Katzen Landow are the proud par-
XO Communications. ents of Blake Madison, born in
December 2003.
The former professional
Sudhakar Garlanka started a
basketball player-turned-
technology-consulting firm, Allwyn
telecom-executive has a
Corporation (pronounced All
talent for taking businesses
Win), soon after graduation in
to the hoop and getting a April 2003. Allwyn is located in the
slam dunk. He was hired by suburbs of Washington, D.C., and
XOs COO to run XO Interactive in Portland, Ore., where he focuses on helping companies
tripled earnings and brought the business to profitability. achieve process efficiencies by tap-
After that turnaround, Collins was asked to assume responsi- ping into global resources. The
bility for another XO acquisition, in San Jose, Calif., this one company has created new jobs and
in the hosting business. He ended up doubling earnings. posted net positive earnings and
healthy EBITDA in the first year of
Hes now back from the West Coast and running XOs new existence.
Managed Services business, which incorporates pretty much
Arturo Oliver and his wife, Ale-
anything thats going to be a managed or hosted solution,
jandra, are proud to announce the
says Collins.
arrival of Nicolas Oliver, born in
He had been working for Bell Atlantic in the Washington, April 2004.
D.C. area when decided to get his MBA. Georgetown had Tom Utendorf, his wife, Dawn,
an allure to it, he said, and I really like the people and and their daughters, Emily (6) and
the curriculum. Claire (5), are proud to welcome
to the family Grace Elizabeth, born
Collins ultimate goal is to run his own business, which is in March 2004.
why he got his MBA in the first place. Im going to end up
running my own company, he says, so Im still learning Suzanne Clark has been instru-
mental in facilitating continued
and using the things that I got out of the curriculum to help
collaboration between the McDo-
me get to that goal.
nough School and the U.S. Cham-
If his free throw and business turnaround stats are any ber of Commerce, where she
indication, hell do just fine. serves as executive vice president
and chief operating officer. See
profile next page.
Mark A. Manning assumed the 04

Elizabeth Aguirre:
03
Class Correspondent:
aguirre.elizabeth@pbgc.gov
Stephanie L. Cinocco
Brian Knapp: Stephanie.Cinocco@Nextel.com
bdk@cohengroup.net
Tim Shannon and his wife,
David Long: Paige Van Wirt (M01), had twins,
David_Long@ita.doc.gov Bruno and Beatrice, at George-
town University Medical Center
Tom McCaffery:
in December 2003.
tmccaffery@mccafferyassoc.com
role of manager of the customer
business center for Caterpillar
Class Correspondent:
Kathleen N. Wolf
Financial Services Corporation in kwolf@us.shire.com
Nashville, Tenn., effective February
After 10 years of service at the
2004. The position provides
McDonough School of Business
administrative oversight to the
Technology Center, Larry Bradley
business origination and portfolio
has taken a position providing IT
maintenance processes serving the
Strategy and Advisory Services with
United States.
Gartner Inc.s Federal Practice in
Robin Moore and husband Kevin Washington, D.C.
MacDonald joyfully announce
Kathy Brady has taken a position
the birth of their daughter, Irene

02
Class Correspondent:
Innisfree, in February 2004.

Ronaldo Ferreira moved to

John H. Fitzgerald Curitiba, Brazil in July 2003 and
john@fitzprop.com was named financial reporting
manager at ExxonMobil.
as account supervisor at Mindshare
Interactive Campaigns in Washing-
ton, D.C. Mindshare is one of the
nations premier online communi-
cations firms providing effective
online strategies and solutions for
public affairs campaigns. Its clients
include many of the nations lead-
ing associations, coalitions, non-

34 McDonough Business
alumninotes
iemba
profit organizations, corporations
and foundations working on a
broad range of issues.
Phani PK Gundupundi joined
Booz Allen Hamiltons Defense Sys-
tems group in April. His primary
role is to manage several service
delivery groups. He is also responsi-
ble in the marketing and business
development for enterprise systems
modernization practice within the
Defense Systems group.
Major Lea Kirkwood is moving
to Los Angeles Air Force Base to
be a program manager in the
Global Positioning Satellite System
Program Office, working on GPS
3, the next generation of GPS
satellites. She would be terribly
disappointed if any IEMBA 9 came
to L.A. and didnt stop by to go to
dinner, have a drink or at least call
to say hello! (hint-hint)
In late May, Thomas Pablo
started a new position as wealth
management advisor for Merrill
Lynch in Washington, D.C. In addi-
tion to developing investment
strategies for high net worth indi-
viduals, Thomas practice will also
focus on the needs of business
owners in the area (business loans,
401K and deferred compensation
packages, etc.)
Ron Meyers became a civil ser-
vant last month as a program ana-
lyst over at the Department of
State. He joins an office less than
two years old responsible for
aligning the departments
resources and goals, as well as
evaluating its performance,
toward the priorities of the Secre-
tary. Hes settling in comfortably at
the Office of Strategic Planning
and Performance, and is enjoying
the back and forth that comes
from being an outsider seeking to
influence existing policies and
processes, while also shaking up
the culture. His new work number
is (202) 647-1128 and email is
MeyersRW@state.gov.
Michael Buck Szymanski has
been working since February with
Continuing Education
Viewing her Georgetown edu-
cation as key to her executive
success, Suzanne Clark
(IEMBA03) is helping others at
the Hilltop Group on site in the U.S. Chamber of Commerce
Philadelphia. Buck has been pro- tap the McDonough Schools
viding business operations and expertise.
project management services to
Clark, chamber executive vice
his client, an HR consulting, pen-
sion management and reinsurance president and chief operating
company. officer, worked with McDo-
nough to create a continuing
Stacey Dash Thiell is proud to
announce that Lauren Ann was education program for high
born in January. Stacey success- potential Chamber employees.
fully managed her career, her
Last year, about 20 such employees spent one day meeting
classes, and the new addition to
with McDonough teachers. Afterwards, they told Clark that
her family with grace.
you should send us again for a whole week, she recalled.
David Weinreich has taken the This year, they spent five days on campus, meeting with
position of vice president of med- teachers and working on Chamber-related projects.
ical affairs for Gene Logic, Inc., a
genomic services company in They learned from the professors, and we created this cross-
Gaithersburg, Md. Dr. Weinreich divisional group of high-potential people who tackled divi-
leaves the National Cancer Insti- sion-wide programs they could not have come up with on
tute, where he has been a physi- their own, Clark said.
cian and cancer researcher for the
past five years. During that time, The McDonough program, which will continue with a new
he brought several compounds group, aids Clarks attempt to figure out ways to retain our
through bench research into most talented staff, she said.
human clinical trials to treat
Continuing education has been the story of Clarks career.
patients with cancer.
She earned a Georgetown B.A. while working her way up to
Lawrence H. Williams was chief of staff at the American Trucking Association. When
recently hired as vice president of
association head Thomas Donohue became Chamber presi-
international and government
dent and CEO in 1997, Clark followed as vice president and
affairs for Space Exploration Tech-
chief of staff. While nearing completion of her IEMBA, she
nologies Corporation. Also known
as SpaceX, the company is devel- was promoted to her current position.
oping a family of launch vehicles
intended to reduce the cost and
increase the reliability of access to
space. The company officially
began operations in June 2002
and is located in the heart of the Keep in Touch
aerospace industry in southern
California. The company was
We encourage all business school alumni-under-
graduate, MBA and IEMBA-to send your news
founded by entrepreneur Elon
Musk, who previously started Pay- and photos to us or to your class correspondents.
Pal and Zip2. Larry will be respon-
We do not accept engagement or pre-birth
sible for all international business
announcements. Send your news to
development activities as well as
global government affairs. msb-news@msb.edu.
Phillip Yin has accepted a short-
term contract with CNBC Asia as an Moved? New job or promotion?
anchor/correspondent. He will ana- Update your own profile or search thousands
lyze macro and micro issues affect-
of undergraduate, MBA and IEMBA alumni by
ing business throughout Asia.
geography, industry, program, year of graduation,
The IEMBA Class of 2004 would
like to extend big congratulations
position, or other criteria at
to Larry, Kathy, PK, Lea, Thomas, http://www.georgetown.edu/alumni
Ron, Buck, Stacey, Dave, Larry and
Phillip on their new endeavors!
McDonough Business 35
Class of 2004 Graduates
he Class of 2004 graduated from Georgetown University the weekend of

T May 2123, with 344 undergraduate and 264 full-time MBA students receiving
degrees during the schools 205th annual commencement exercises on Healy
Lawn and McDonough Gymnasium, respectively.
Forty-seven IEMBA students received their degrees at a separate ceremony in Gaston Hall
on April 24, 2004.
Kalle M. Dahl (B04), Marc B. Marlin (MBA04) and Brett S. Jenks (IEMBA04) were
chosen by their classmates to deliver student addresses at the ceremonies.
New York Stock Exchange president and Georgetown parent Catherine Kinney addressed
the undergraduates; founder and vice chairman of Remedy Intelligent Services Robert
Emmett McDonough (F49) addressed the full-time MBA graduates; and Virgin Air
CEO Frederick W. Reid delivered the guest address at the IEMBA ceremony.

A l m a M at e r

Hail, oh Georgetown, Alma Mater,

Swift Potomacs lovely daughter,
Ever watching by the water,
Smile on us today;
Now her children gather round her,
Lo, with garlands they have crowned her,
Reverent hands and fond enwound her,
With the Blue and Gray.
Wave her colors ever,
Furl her standard never,
But raise it high,
And proudly cry,
May Georgetown live forever.
Where Potomacs tide is streaming,
From her spires and steeples beaming
See the grand old banner gleaming
Georgetowns Blue and Gray.
Throned on hills beside the river,
Georgetown sees it flow forever,
Sees the ripples shine and shiver,
Watching night and day,
And each tender breeze upspringing,
Rarest woodland perfumes bringing,
All its fold to fullness flinging,
Flaunts the Blue and Gray.

R ob e rt C ol l i e r 1 89 4
36 McDonough Business
Bellwether
one who leads or initiates
Robert H. Steers
n 1986, Robert H. Steers (B75)
I and his partner, Martin Cohen,
started the first U.S. company to
focus exclusively on real estate
securities. A tax reform bill passed
that year had made it possible for real
estate investment trusts, known as REITs,
not only to own, but also to operate and
manage, most types of income-producing
commercial properties. Steers and Cohen
saw a coming revolution in real estate
investment. The only problem, Steers says:
We were about five years too early.
Steers and Cohen stuck it through the
1987 stock market crash and the worst
real estate market in decades, in 1990.
But in 1991 and 1992, things started to
change and REITs boomed. In 1992,
Cohen & Steers Capital Management, Inc.,
had about $200 million under management.
Today, that number is $15 billion, and the
company went public in August.
The keys to Cohen & Steers success,
according to Steers, are sticking to the
strategic view and never wavering and
never believing your own B.S. He adds:
We dont think were the next Google.
But taking their company public, the two
partners hope, will let them have their
cake and eat it too by keeping intact the
company theyve worked hard to build,
while grooming younger folks to succeed
them in a few years.
The newly appointed vice chair of the
McDonough Schools Board of Advisors,
Steers last fall made a significant pledge to
the planned business school building. He
also has funded faculty research and
development at the school. Its important
to give back, he says, and its also fun to
be on a winning team.
Career highlights: Steers began his career
at Citibank in New York, where he worked
as a securities analyst and as vice president
and portfolio manager of the companys
Emerging Growth Stock Fund. In 1982, he
became a senior vice president and chief
investment officer at National Securities and
Research Corporation in New York, where
he chaired the Investment Policy and Stock
Selection committees. While at National
Securities, he organized and launched, with
National Securities Senior Vice President
Martin Cohen, the first real estate securities
mutual fund in the United States. In 1986,
the two men formed the first U.S. company
to focus exclusively on real estate securities.
Education: Georgetown University, B.S. in
Business Administration, 1975; George
Washington University, M.B.A., 1977.
Alumni activities: McDonough School of
Business Board of Advisors (vice chair);
Georgetown University Board of Regents;
McDonough School of Business Major Gifts
Committee; Wall Street Alliance Advisory
Board.
Former alumni activities: McDonough
School of Business Third Century Campaign
Steering Committee; McDonough School of
Business Graduate Advisory Board; Alumni
Career Network.
Its important to give back,
and its also fun
to be on a winning team.
Favorite Georgetown professor: William
G. Droms, the John J Powers, Jr., Professor
of Finance, who made learning finance and
investment fun. By not taking himself or
his subject too seriously, he taught students
by example, Steers says. For instance, Droms
told students they could stay awake in class
by putting pencils in their collars so they
would poke themselves if they nodded off.
Family: Steers and his wife, Lauren, live
in Rye, N.Y., his hometown. They have four
children: Macaulay (20), a junior in
the School of Nursing and Health Studies;
Julia (18), who will enter Georgetown
College this year; Andrew (16); and John
Phillip J.P. (11).
Hobbies: Steers enjoys intense outdoor
sports, particularly ice hockey, tennis and
skiing. As much as the activities themselves,
he says, he likes the socializing that follows
going out for beers with the guys after a
game of hockey or reading and relaxing
with his family in their ski house.
Affiliations: Board of Directors, Canterbury
School, New Milford, Conn.
His view of business: If you have a
strategic view, and its correct thats a
great way to run a business. If you believe
in your mission, then its not that hard.
By Eman Quotah
Save the Date!
June 3, 4 and 5, 2005 Reunions Planned

For more information 55

Undergraduate Alumni 60
Matthew T. Lambert
Director of Class Advancement and Parent Programs 65
(202) 687-4336
mtl6@georgetown.edu 70
MBA and IEMBA Alumni 75
Robert P. Johnson
Director of MBA & IEMBA Alumni Programs 80
(202) 687-3738
johnsonr@georgetown.edu 85
90
95
R E U N I O N S 00

2 0 0 5
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PA I D
Box 571147
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Washington DC 20057-1147 Permit 3901