BusinessWINTER 2003

VOLUME 15 NUMBER 1

Georgetown Business is

published during the academic

year by The McDonough School

of Business for alumni, parents,

friends, and business colleagues.

Dean John W. Mayo, Ph.D.

Executive DeanJoseph Mazzola, Ph.D.

Editor Elaine Ruggieri, apr

Contributing Writer Tom Price

Photography Jon Golden

Designer Nancy Van Meter

Georgetown Businesswelcomes inquiries, updates,

opinions and comments expressed

by its readers. Letters should be

addressed to:

the editorGeorgetown Business

dean’s officegeorgetown universitythe mcdonough school of businessold north buildingwashington dc 20057

phone: 202-687-4080

www.msb.georgetown.edu

Wel

com

e

1

CONTENTS

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

New Dean Leads McDonough With Experience and Vision . . . . . 9

New Director Advances Career Services . . . . . . . . . . . . . . . 14

Chaplain Ministers to B-School Students . . . . . . . . . . . . . 15

Managing Political Risk with Political Risk Insurance . . . . 16

Faculty Achievements . . . . . . . . . 18

In the Media. . . . . . . . . . . . . . . . . . 21

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

Dean John W. Mayo

Letter from the Dean

This fall I was honored to have been chosen as Dean of the McDonough School of Business.

This appointment follows my serving as Senior Associate Dean (1999–2001) and as a Professor of

Economics, Business and Public Policy at the MSB since 1997. After one semester on the job, I must

say that I am genuinely overwhelmed by the tremendous goodwill that I have found toward the School.

As we look to the future, the School faces three priorities directed at positioning us solidly among the

top-tier business schools in the world. First, in recognition that we cannot rely upon a dominant financial

position relative to most of the top-tier schools, we will seek to leverage our considerable non-financial

resources to help elevate the School. Faculty, staff, students, alumni, parents and our corporate friends

will all be asked to help contribute their own particular skills to this effort.

Given the scarcity of new jobs in the current soft economy, we are asking alumni to help our students

“network” within the business community to identify positions where fellow Hoyas can find opportunities

to excel. If you have information about an employment opportunity, please contact Jim Dixey, our new

Director of MBA Career Management, at 202.687.3745. You can read more about Jim and his plans for the

career management office on page 14.

Second, the School will develop a serious, forward looking strategic plan that will guide our activities and

program growth for the future. This effort is headed by Professors Elaine Romanelli and William Droms

and includes a number of faculty, program directors, students and a distinguished member of the MSB

Board of Advisors. The output of the plan will provide guidance for the construction of new facilities to

house the MSB. I hope to have more good news to report on that front in the near future.

Third, after years of rapid growth, the School will seek to ensure that we are operationally and financially

positioned to compete as a full-portfolio, top-tier business school. For example, we will seek to establish

personnel to improve our relationships with the corporate community that has been so kind to us over

the years. As part of this effort, we will also clarify our financial relationship with the University in a way

that maximizes the long-term prospects for our mutual success.

In order for these three priorities to have the desired impact all McDonough constituents must offer

unprecedented levels of collaboration and assistance. Indeed, such a “spirit of engagement” is virtually

critical to our success. In that same spirit, I wish to reaffirm the McDonough School’s commitment to

building a mutually beneficial partnership with you.

Sincerely,

John W. Mayo, Ph.D.

Dean

as vice chairman of

Remedy Temp,

Inc., a temporary

staffing services

company that he

and Elsa

McDonough

founded in 1964.

Headquartered in

Aliso Viejo, Calif.,

Remedy Temp

operates 280 offices throughout the United

States. He and his wife, Dr. Simone Ballandras

McDonough, reside in Capistrano Beach, Calif.

and Paris, France.

McDonough’s vision of the chaired profes-

sorship as a fitting tribute to Elsa McDonough

is realized by the appointment of Jain, who

received the Erich Sternberg Award and the Irv-

ing H. LaValle Research Award for his scholarly

work and several teaching awards while at

Tulane University. His articles have been published

in numerous journals, including the Journal of

Finance, Journal of Accounting Research, Journal of

Financial Economics, and Journal of Accounting

and Economics. As an expert in relating financial

reporting to the stock market, he has contri-

buted comments to business stories in the Wall

Street Journal, Barron’s, Newsweek and other

media. He has served on the editorial boards of

The Accounting Review and other journals.

Jain received a B.S. from the Birla Institute

of Technology and Science in India, an M.S. in

applied economics from the University of

Rochester, and a Ph.D. in business administra-

tion from the University of Florida. He has been

a certified public accountant since 1983.

A ceremony to recognize Jain’s appointment

as the inaugural Elsa Carlson McDonough Pro-

fessor will be held later this year.

The McDonough School has named

accounting and finance scholar and

teacher Prem C. Jain the first Elsa Carl-

son McDonough Professor. The chaired profes-

sorship was established by benefactor Robert

Emmett McDonough (F’49) in honor of his first

wife Elsa, who died in 1994.

Jain, an expert in financial analysis and its

economic implications, joined the McDonough

faculty in 2000. He has taught accounting and

finance courses at the A.B. Freeman School of

Business at Tulane University, The Wharton

School at the University of Pennsylvania, the

School of Accounting at the University of

Florida, and the Graduate School of Manage-

ment at the University of Rochester. He also has

served as Visiting Research Scholar at INSEAD

in France and the Commodity Futures Trading

Commission in Washington, D.C., and has

taught at the Instituto Tecnologico de Estudios

Superiores de Monterrey (ITESM) in Mexico

and the China European International Business

School (CEIBS) in China.

As part of a $30 million commitment to the

business school in 1998, Robert Emmett

McDonough established the Elsa Carlson

McDonough chair to enrich the school’s curricu-

lum, enhance the student experience, and attract

and retain excellent faculty. A 1949 graduate of

the Georgetown University School of Foreign

Service, McDonough is a member of the busi-

ness school’s Board of Advisors and a recipient of

the John Carroll Award for his many years of

loyal service and leadership, and unprecedented

generosity to Georgetown University. He serves

2 The McDonough School of Business

Inside Information

McDonough School OffersNew Undergraduate Major

Business students can now major

in Operations and Information

Management (OPIM), the first new

major approved in several years

by the Business School.

The new concentration provides

a solid foundation in supply chain

management and information

systems fundamental to modern

management.

The OPIM major will enable stu-

dents to approach technology

issues from both a strategic direc-

tion and an analytic perspective,

enhancing career opportunities in

management of the supply chain,

information systems, manufactur-

ing and/or service operations, and

risk analysis.

The OPIM major is also an excel-

lent basis for careers in business

consulting. According to Area

Coordinator Ricardo Ernst, “We

were able to draw on the strength

of our faculty in the area of Deci-

sions Sciences, Production and

Operations Management, and

Management of Information Sys-

tems to offer this timely course of

study. There is a tremendous

demand for professionals who

understand business processes

and the application of information

systems to improve them.”

Jain Appointed Inaugural Elsa McDonough Professor

Prem C. Jain

Almeida left The Wharton School at the

University of Pennsylvania to join the

McDonough School faculty in 1996.

He specializes in strategic management with

research interests in knowledge management,

the competitiveness of firms, and high-tech

regions in the semiconductor, biotechnology,

and software industries. He is a recipient of the

Joseph F. Le Moine Award for Graduate and

Undergraduate Teaching Excellence and the

Best Professor Award for

Executive Programs at

Georgetown University.

Almeida has written

numerous research arti-

cles that have been pub-

lished in Management

Science, Organization Sci-

ence, Strategic Manage-

ment Journal, Research

Policy, International

Business Review, Small Business Economics, and

other scholarly outlets. He is co-writing a vol-

ume titled Managing Knowledge in the 21st Cen-

tury. He is a member of the Academy of Man-

agement, Academy of International Business,

and Strategic Management Society.

In India, he received a B.E. in electrical

engineering at the University of Poona and an

M.B.A. from the Indian Institute of Manage-

ment. He holds M.A. and Ph.D. degrees from

The Wharton School.

Tinsley joined the faculty in 1996 as an

expert in negotiations, conflict manage-

ment, and dispute resolution. She is a

member of the editorial boards of The Academy

of Management Journal and International Negoti-

ations: A Journal of Theory and Practice. She has

written research articles that have appeared in

numerous scholarly journals, including Journal of

Applied Psychology, Journal of International Business

Studies, Research on Negotiations in Organiza-

tions, Applied Psychol-

ogy, and International

Perspectives on Organi-

zational Justice. She is a

board member of the

International Associa-

tion of Conflict Man-

agement and the Con-

flict Division of the

Academy of Manage-

ment. Tinsley also

serves as a faculty affiliate at the School for

Advanced International Studies at Johns Hopkins

University and at the Center for Peace and

Security Studies at the School of Foreign Service

at Georgetown University. She conducts negoti-

ations and dispute resolution training seminars

for executive education programs at business

schools in the United States and abroad.

Tinsley received a B.A. in anthropology

from Bryn Mawr College, and M.A. and Ph.D.

degrees from Northwestern University.

3Winter 2003

Delta Airlines Gives$50,000 to Center

James Swartz (left), Director of

Corporate Safety at Delta Airlines,

presented, John Mayo, Dean and

Executive Director of the Center

for Business and Public Policy,

with a $50,000 check in support

of the Center in July 2002. Delta

was a founding sponsor of the

Center which will host the third

Workplace Safety Summit at

Georgetown this spring.

Two Achieve Tenured Positions

Assistant Professors Paul Almeida and Catherine H. Tinsley received tenure in June andwere promoted to associate professors.

Paul Almeida Catherine H. Tinsley

formed a partnership

with Dominic

Moulden, executive

director of Manna

CDC, in which his

students would facili-

tate Manna CDC’s

work with the MCI

Center, the Wash-

ington Convention

Center Authority,

and Shaw neighbor-

hood businesses. One of their new projects is

designing plans for the Main Street commercial

mix for the 7th and 9th Street corridors.

The Honorable Anthony A. Williams,

Mayor of the District of Columbia, spoke at the

Business Awards Dinner, which was attended by

over 1,000 area decision makers. Awards were

also presented to the general contracting com-

pany, Gilford Corporation, for Small Business of

the Year; Verizon Washington, D.C. for the

Business of the Year; and Franklin D. Raines,

Chairman and CFO of Fannie Mae, for Busi-

ness Leader of the Year.

Professor Robert J. Bies was presented

with the Community Service Award

from the D.C. Chamber of Commerce

at their annual Business Awards Dinner on

November 2.

Bies received the award for his work with

MSB students and the Manna Community

Development Corporation to stimulate positive

change and economic growth benefiting the his-

toric Shaw neighborhood and Washington., D.C.

Since 2000, he has guided over 100 under-

graduate students to work with Manna CDC on

economic development programs. Using their

business training and analytical skills, the stu-

dents have assisted in developing business plans

for the Shaw Heritage Tour and Gift Shop, the

Chain Reaction Youth Bike Shop, and Maggie

Moo’s ice cream parlor soon

opening near the new Con-

vention Center. They also cre-

ated a marketing strategy for

SINGA, a textile training

center, and a Web site for Manna CDC.

Believing in the importance of engaging

students in community service projects, Bies

4 The McDonough School of Business

Inside Information

Dean John Mayo with Mr. and Mrs. James Orthwein, co-chairs of the

Parents Advisory Council. The Council met on November 1 during Parents Weekend

activities to hear and discuss reports on student life issues, curriculum, academic

advising, and the capital campaign.

D.C. Chamber of Commerce Honors MSB Professor Ten M.B.A. StudentsNamed Connelly Scholars

The selection committee for the

John F. Connelly M.B.A. Scholar-

ship program, funded by the

Connelly Foundation of Philadel-

phia, named 10 students as Con-

nelly Scholars. They are Herbert

Caudill, Carla Gallelli, Risha Hess,

Andrew Madden, and Christian

Tietzsch (Class of 2003) and

Rodrigo DeLaRocha, Kenneth

Lim, Michelle Magrans, Emilian

Marinov, and Mary Jo Slidell

(Class of 2004).

Connelly Scholarships are

awarded to highly motivated

students who have overcome

personal obstacles, and show

promise to succeed and strength

to help others. Connelly Scholars

were named for the first time

last year, and five new scholars

will be selected annually.

Robert J. Bies

McDonough Holds Top 30Position In BusinessWeek’s MBA Ranking

Business Week’s biannual rank-

ing of the “best b-schools”

(October 21, 2002) listed the

McDonough School in 30th

position, a slight drop from its

26th place in 2000. The drop is

attributed to factors concern-

ing career opportunities in the

lagging job market.

Northwestern’s Kellogg

School regained first place, fol-

lowed (in order) by Chicago,

Harvard, Stanford, Wharton

(Pennsylvania), Sloan (MIT),

Columbia, Michigan, Fuqua

(Duke), and Tuck (Dart-

mouth) to form the Top 10.

The magazine conducted

polls of corporate recruiters

with 52 percent responding

(down from 59 percent in 2000)

and 2002 M.B.A. graduates

with 68 percent responding

(up from 60 percent in 2000).

It also reported that average

pay packages among the Top

30 were 12.6 percent lower

than in 2000 ($110,970 from

$126,000 two years ago).

Two Other RankingResults Reported

The Wall Street Journal, in

their second ranking of the

Top 50 Business Schools

the McDonough School again

this year because of a low

response from recruiters. The

paper based the rankings on

surveys from 2,221 recruiters

who rated business schools on

26 attributes.

The Top 10 finishers

were: Tuck (Dartmouth),

Michigan, Carnegie Mellon,

Kellogg (Northwestern),

Wharton (Pennsylvania),

Chicago, Texas at Austin, Yale,

Harvard, and Columbia.

Unfortunately, The

McDonough School was also

excluded from the Financial

Times (October 14, 2002)

ranking of the top 50 IEMBA

programs because of an inade-

quate response from the grad-

uate poll. Last year

McDonough was ranked 13th

among U.S. executive M.B.A.

programs and 22nd globally.

The top ranked IEMBA pro-

grams this year were: Wharton

(Pennsylvania), Columbia,

Stern (New York University),

London Business School,

(Duke), Chicago, Kellogg

(Northwestern), GSBA

Zurich, and Goizueta

(Emory).

5Winter 2003

MBAs Gather for Net Impact Conference

The 10th Annual Net Impact Conference hosted by four area

business schools drew over 900 MBA students, alumni, and faculty

to Georgetown University on October 25 to 27 to discuss “Part-

nering to Create Social Value.” Net Impact is a network of emerg-

ing business leaders committed to using the power of business to

create a better world.

A design team of 12 MBA students from Georgetown,

American University, George Washington University, and the

University of Maryland planned the event with the help of volun-

teers from Net Impact chapters, other students, and faculty.

“Net Impact—Students for Responsible Business is one of

our largest MBA student clubs with over 100 members and with

additional members from the School of

Foreign Service,” said Colleen M. Arons

(C’97, MBA ‘03), president of the MBA

chapter at McDonough.

Joining the participants were over 100

speakers and panelists. Four keynote

addresses were delivered by executives

from Hewlett Packard, Fannie Mae Foun-

dation, British Petroleum, and Ben &

Jerry’s. Participants and speakers explored

corporate social responsibility issues in five

areas: environment, business and public policy, international, social

entrepreneurship, and current events.

Ben Cohen, founder of Ben & Jerry’s, spoke on the changing

landscape of entrepreneurship, business growth, and corporate

social responsibility. In 1993, he was the keynote speaker for the

initial conference of Students for Responsible Business, Net

Impact’s predecessor, held at Georgetown.

As the host for Saturday’s session, Georgetown led the busi-

ness and public policy track with a corporate governance panel

that included leaders from the Security Exchange Commission,

the U.S. Senate, KPMG, and the NASD. The exhibition hall was

one of the most popular and successful aspects of the Conference

with over 100 exhibitors ready to explain the career options and

social responsibility policies of their companies.

“It is vital that students understand the ethical responsibilities

that society expects from business leaders, the opportunities cre-

ated by these expectations, and the competitive constraints under

which business operates,” said Professor Dale Murphy, Landegger

Program in International Business Diplomacy, who serves as fac-

ulty board member for Net Impact.

Conferences and Events

(September 9, 2002), excluded

Instituto de Empresa, Fuqua

Sixty-two students attended McDonough

summer programs at the University of

Oxford from June 28 to August 7. The

Undergraduate Oxford Summer Program, with

36 students, was led by Ann-Mary Kapusta,

associate dean and director of undergraduate

programs. The Graduate Oxford Summer Pro-

gram in International Management, with 20

MBA and six MPP students, was directed by

Professor Robert M. Grant.

Both programs consisted of lectures, tutori-

als, and site visits to companies and British land-

marks. Students were lodged in Trinity College,

where they could experience and participate fully

in the academic life at Oxford, including weekly

invitations to “High Table” nights, featuring

talks by distinguished guest speakers followed by

dinner in the Trinity dining room.

Undergraduates took two courses: Compar-

ative Strategic Management, with course tutor

and economist David Faulkner, a Fellow at

Christ Church College, and International

Finance, taught by Adrian Buckley, international

finance professor at the Cranfield School of

Management. They made site visits to Goldman

Sachs, Gucci, Lloyd’s of London, PriceWater-

houseCoopers, and Royal & Sun Alliance.

“The Oxford experience, from tutorials to

trips to London, is unique and challenging; a

rewarding addition to a Georgetown education,”

says Laura R. Wilkicki (MSB’03).

The graduate students participated in tuto-

rials taught by faculty from British business

schools, members of the British Parliament, and

executives from major international companies.

Limited to three students only, the tutorials cov-

ered a broad range of subjects, including The

British National Health System, Economic and

Political Aspects of Globalization, Private

Equity and Venture Capital in Europe, and

Comparative Financial Systems. In addition,

students were required to write an independent

research paper and present it to a panel of tutors.

Site visits included Barclay’s Capital, Lloyd’s of

London, and the Houses of Parliament.

Some Georgetown alumni in the area

assisted with the graduate student instruction,

joined the graduates at a lawn party at the Royal

Henley Regatta, and attended a 4th of July bar-

becue at Grant’s house in London. Additional

highlights of the program were day trips to

nearby cities and evenings at the theatre.

“Both Oxford the University and Oxford

the city are incredible. I am so happy I had the

opportunity to study there. It truly was a once-

in-a-lifetime experience that I will never forget!”

says Jonathan I. Wainberg (MBA’03).

Credit Research CenterHolds Subprime Lending Conference

The McDonough School’s Credit

Research Center hosted the Sub-

prime Lending Symposium on

September 17. Professor and

Director of the Credit Research

Center Michael E. Staten and

George Washington Professor of

Economics Anthony Yezer, a mem-

ber of the CRC advisory council,

organized the conference which

featured 11 new research papers.

Other CRC advisory council mem-

bers who participated included

Thomas Durkin of the Federal

Reserve Board; James Barth of

Auburn University and the Milken

Institute; and Gregory Elliehausen

of Georgetown University. Over

130 people attended, representing

federal agencies, industry trade

associations, financial services

firms, and Washington-area think

tanks and universities. The edited

proceedings will be published in

the Journal of Real Estate Finance

and Economics in 2003.

6 The McDonough School of Business

Inside InformationConferences and Events

International Management Program at Oxford University

McDonough School Distinguished Speaker Series

November 14, 2002

Warren E. Buffett

CEO of Berkshire Hathaway

November 20, 2002

Robert M. Kimmitt (L’77)

Executive Vice President, Global &

Strategic Policy

AOL-Time Warner

(former U.S. Ambassador to Germany)

February 12, 2003

Philip A. Marineau (C’68)

President & CEO

Levi Strauss & Company

McDonough Hosts International Climate Change Workshop

The Centre for European Policy Studies

(CEPS) in Brussels, the Fondazione Eni

Enrico Mattei (FEEM) of Italy, and the

McDonough School have initiated “The Trans-

atlantic Dialogue on Climate Change,” a series

of workshops on climate change issues between

Europe and North America. Workshop II: Next

Steps towards Greater Cooperation was held at

the McDonough School on June 27.

The one-day conference, coordinated by

Associate Professor Thomas L. Brewer, was

attended by over 50 business and government

representatives from Europe and the United

States. Brewer, editor of the Journal of Interna-

tional Business Studies, serves as Associate

Research Fellow for CEPS.

The workshop provided a forum to advance

transatlantic cooperation on climate change

issues by identifying linkages and by developing

an agenda of next steps. The conference was sup-

ported by the German Marshall Fund of the

United States, an institution that fosters ideas

and cooperation between the U.S. and Europe in

the spirit of the postwar Marshall Plan.

Featured speakers included Heidi Hautala,

member of the European Parliament, Ulrich

Federspiel, Danish ambassador to the United

States, and Charles Nicholson, corporate vice

president of British Petroleum.

Brewer welcomed the guests and introduced

Hautala’s opening speech, “Next Steps Toward a

More Constructive Transatlantic Engagement

on Climate Issues.” Hautala guided the proposed

European Union greenhouse gas emission trading

system in the Parliament.

Federspiel, whose country now holds the

presidency of the EU, addressed “Emissions

Trading in Denmark—a Template for Business?”

Known in Europe and the United States for

his central role in creating the United Kingdom’s

greenhouse gas emission trading system, Nichol-

son gave a welcoming address to the attendees on

the evening of June 26.

For more information, please visit:

http://www.ceps.be/climate-dialogue.php

7Winter 2003

Transatlantic Business Ethics Conference Summary

by Professor George G. Brenkert, Director of the Georgetown Business Ethics Institute

How are accounting issues sur-

rounding the current corpo-

rate scandals seen in Europe?

What should corporations do when

faced with demands for facilitating pay-

ments? What are the bedrock concerns

of business ethics?

These are some of the issues that

were discussed at the Transatlantic

Business Ethics Conference, hosted by

the Georgetown Business Ethics Insti-

tute, on September 27 to 29. Levi

Strauss & Co. and ING Group were

sponsors. Leaders in business ethics and

corporate social responsibility from uni-

versities in Europe (including Cam-

bridge, Budapest University of Eco-

nomic Sciences, and ESADE) and the

United States (Pennsylvania, Notre

Dame, Minnesota, and Georgetown),

prominent businesses (including Levi

Strauss & Co., ING Group, DuPont,

Timberland, and Lockheed Martin),

and non-governmental organizations

(Ethics Resource Center, the Confer-

ence Board, the Ethics Officer Associa-

tion, and SustainAbility) attended and

gave presentations on the general topic

of “Corporate Integrity and Account-

ability.” Under this general heading, ses-

sion discussions included: “Corruption,

Globalization and Ethics,” “Accounting

Standards and Financial Reporting,”

and “Responsibility to the Environment:

Natural and Human.”

George Kell, executive head of the

U.N. Global Company for Business,

gave the keynote address Saturday

evening in Riggs Library.

Among the underlying themes

were the different approaches to busi-

ness ethics in North America and

Europe; the relations of individual ethics,

business and social systems; and the

challenges of finding ways to address

the conditions that have given rise to

corporate scandals and charges of ethi-

cal failure.

At the conclusion, a group of

attendees met and formed the Transat-

lantic Business Ethics Forum, which

will meet again in Barcelona, Spain in

September 2004 and continue bringing

together leaders in business ethics and

social responsibility from universities,

businesses, and NGOs to address cen-

tral problems of business ethics.

Catherine Smith of ING Group Bruce Moats of Levi Strauss & Co.

sustainable democracies and lasting peace,” said

Professor Catherine Tinsley, who attended the

first phase of the Summit in Finland in Septem-

ber, and was integral in developing the subse-

quent program at Georgetown.

MSB Professors Ilkka Ronkainen, Elaine

Romanelli, and Tinsley led sessions on Turning

Obstacles into Opportunities, Global Growth

Strategies, and Ethical Decisions. Also partici-

pating at the Summit were Supreme Court Jus-

tice Sandra Day O’Connor, Under Secretary of

State for Public Affairs and Public Diplomacy

Charlotte Beers, Assistant Secretary of State for

Education and Cultural Affairs Patricia Harri-

son, Calvert Group CEO Barbara Krumsiek,

and former Ambassador to the Netherlands

Cynthia Schneider.

Participants reflected together on their

experiences throughout the Summit. They also

received a White House briefing and met Presi-

dent George W. Bush and National Security

Advisor Condoleezza Rice, and attended a

reception at the State Department, hosted by

Under Secretary of State Paul Dobrianki, with

remarks by Deputy Secretary of State Richard

Armitage and a meeting with Secretary of State

Colin Powell.

Fifty women business leaders from Esto-

nia, Finland, Latvia, Lithuania, and

northwestern Russia joined 50 women

business leaders from the United States at

Georgetown University for the Washington

Program of the Helsinki Women Business

Leaders Summit on November 13 to 15. The

Helsinki Women Business Leaders Summit

“The Helsinki Summit is key in establish-

ing connections between the U.S. and Baltic

region businesses,” said U.S. Ambassador to

Finland Bonnie McElveen-Hunter. “Through

person-to-person diplomacy, we hope to

strengthen economies, increase opportunities for

creating new jobs, and nurture long-term cross-

border prosperity.”

Three McDonough School professors

served as panel discussion leaders. “Georgetown

University was proud to host the Washington

phase of this unprecedented opportunity for

women executives from the Baltic Rim region to

learn best practices and management skills from

each other and from our outstanding faculty,”

said MSB Dean John Mayo. “Our international

character and Catholic and Jesuit traditions

make the McDonough School of Business

uniquely equipped to provide an open and col-

laborative learning environment.”

The U.S. Department of State and the gov-

ernment of Finland spearheaded this effort to

promote a greater understanding of opportuni-

ties for trade, commerce, and free market

economies. “Through promoting and enabling

women’s economic opportunities we develop

8 The McDonough School of Business

Inside Information

MBA Class of 2004

Applications 2900

Enrolled 269

Mean Age 28

Male 67%

Female 33%

U.S. Minority 15%

International 35%

Mean GMAT 663

Mean GPA 3.3

Undergrad Class of 2006

Applications 2,363

Enrolled 296

Transfers 46

Mean SAT 1326

Geographic Representation:

34 states and 23 countries

Conferences and Events

Georgetown University and MSB Host Helsinki Women Business Leaders Summit

constitutes the largest U.S.-Finnish public-pri-

vate sector outreach program in history.

New Dean

Leads McDonough

With Experience

and Vision

by Tom Price

10 The McDonough School of Business

John W. Mayo—Professor of economics, business and

public policy and founding Director of the

McDonough School’s Center for Business

and Public Policy—has been named to a

two-year term as McDonough School

Dean. He took office in August, after for-

mer Dean Christopher P. Puto left to head

the University of St. Thomas Business

College in Minneapolis.

In announcing the appointment, Uni-

versity President John J. DeGioia called

Mayo “a distinguished and respected

member of the faculty.” Georgetown

Provost James J. O’Donnell said Mayo “is a

first-rate scholar and teacher, is a great citi-

zen of MSB and Georgetown, and has a

great grasp of what needs doing in and for

the school and the university during the

next two years.” He said many

McDonough faculty and staff recom-

mended Mayo’s appointment.

Acquiring a new building for the

school, continuing to grow the faculty and

staff, and continuing to enhance the

school’s prestige are among the key chal-

lenges that McDonough will face in the

coming months, Mayo said.

“I’m very optimistic we will get a ‘go’

in February from our board of directors for

construction of a beautiful new, state-of-

the-art facility,” Mayo said. Also on tap is

faculty and staff expansion to “reach a level

that is commensurate with the very best

programs in the country.” “As rapidly as we

have grown,” he said, “we continue to be

under-positioned relative to the other top-

tier business schools.”

What the new building will look like

and exactly how the faculty and staff will

grow are among major decisions the school

and university must make, Mayo said.

“Faculty and staff expansion certainly is

going to happen,” he explained, “but we

need to rationalize why we need to expand

and where we need to expand.”

He said a faculty/staff strategy and

accreditation committee is looking at such

questions as:

What is the right size of the new facility?

What undergraduate curricular changes are

needed for the undergraduate program to be

unquestionably among the leading business

schools in this country?

What curricular and staffing changes are

needed at the graduate level to position the

school as a premier, distinguished graduate

school of business?

Dean John W. Mayo in Riggs Library

11Winter 2003

Do we focus more attention on executive

education?

Do we begin a part-time MBA program?

Do we expand our full-time MBA program?

Do we look to expand our international

programs?

The high significance of those ques-

tions is one reason his appointment to a

two-year term makes sense, Mayo said.

“The credibility of those decisions—

the commitment to those decisions—

would have been subject to too much

questioning if there were an interim dean

in place.”

The two-year term carries more

weight than an interim appointment, he

said. And it gives the university flexibility

to take its time in making a longer-term

choice.

Mayo came to Georgetown in

1997, attracted in part by

McDonough’s commitment to

promoting ethical business practices and

its accessibility to the federal agencies he

studies.

“We strive to produce students who

are not only well trained in all the techni-

cal business disciplines of marketing,

finance, operations and the others, but who

also will be principled business leaders,”

Mayo said. “At Georgetown, the phrase

‘business ethics’ has never been an oxy-

moron that it appears to be in some busi-

ness circles.

“The fact that Georgetown University

is 15 minutes away from the Federal Com-

munications Commission, the Justice

Department’s Antitrust Division, and the

Federal Trade Commission makes this

place very desirable from my perspective. It

means I can be at an academic institution,

with the time to reflect seriously on public

policy issues that affect businesses, and I

have the physical proximity to those public

policy institutions.”

“I’m very optimistic

we will get a ‘go’ in February

from our board of directors

for construction of a beautiful

new, state-of-the-art facility,”

Mayo said.

12 The McDonough School of Business

Mayo served as Senior Associate

Dean of McDonough from

1999 to 2001. Early in 2002,

he launched the Center for Business and

Public Policy, which fosters research in the

field and organizes dialogues among schol-

ars, business executives, labor leaders, gov-

ernment officials and nonprofit organiza-

tions. Focusing initially on workplace

safety, the center in April attracted more

than 100 senior-level participants to the

first of what are to be annual safety “sum-

mits.” Because of his expertise in work-

place safety issues, Mayo recently was

named Vice President for Educational

Resources on the National Safety Council

Board of Directors. During his deanship,

Mayo will be the policy Center’s Executive

Director, while Professor N. Lamar Rein-

sch, Jr. helps to run the day-to-day activi-

ties as director.

Mayo also is a Zaeslin Fellow of Law

and Economics at Switzerland’s University

of Basel. In that role, he lectures in

Switzerland on U.S. regulatory policies. In

return, the program sends Swiss scholars

to interact with students and faculty at

Georgetown.

“Swiss scholars are extraordinarily

eager to learn about the United States eco-

nomic and legal system,” Mayo said. His

visits to Basel combined with the Swiss

visits to Georgetown “enrich the lives of all

the parties,” he added.

Students and faculty said Mayo has

demonstrated qualities needed by an effec-

tive dean.

Dr. Joseph Mazzola, Professor and

Executive Dean of Faculty at McDon-

ough, called Mayo a “creative thinker” who

is “well respected as an academic scholar

and has proven to be an effective adminis-

trator in the senior associate dean’s office

and in forming and directing the Center

for Business and Public Policy.”

“He’s extremely effective in forming

consensus around difficult issues,” Mazzola

said. “He is an effective communicator

with outside constituencies.”

Similarly, John H. Zouck (MBA’00)

said Mayo’s leadership of one-week inte-

grative experiences for students proved

him to be “an excellent administrator and

manager and organizer.” As a teacher,

Zouck said, Mayo is “generally good-

natured and helpful.”

13Winter 2003

“I think he understands how things

work, so to speak, so he can make sure that

the right people are involved and that

things come off well,” said Zouck, a senior

category purchasing manager at US Air-

ways. “I think he’s generally a very open,

receptive, friendly person who is excellent

at reaching out to people. I think he will be

able to work with the different constituen-

cies—students, faculty, employers.”

Michelle Garam (B’01), who was

Mayo’s undergraduate research assistant

for two and a half years, called him “a ter-

rific boss” who “treats students with a lot of

respect.” Garam, a production assistant

with the television comedy Still Standing,

said Mayo is “a very kind and sincere man”

who “is really dedicated to the school.”

Mayo was born in Colorado Springs

and was reared in several communities as

his father, a U.S. Air Force officer, was

assigned to various military bases. He

earned a bachelor’s degree in economics at

Hendrix College in Arkansas, and master’s

and Ph.D. degrees in economics at Wash-

ington University in St. Louis.

Mayo taught at Washington Univer-

sity, Virginia Tech and the University of

Tennessee and served as chief economist

for the U.S. Senate Small Business Com-

mittee. He has been an advisor and consul-

tant to numerous public and private orga-

nizations, including the Justice

Department, Energy Department, Federal

Trade Commission, Tennessee Valley

Authority, AT&T, MCI, and Sprint. He

has testified before state and federal leg-

islative and regulatory bodies on such top-

ics as monopoly, price-fixing, mergers and

regulatory pricing policy.

His research interests include indus-

trial organization, regulatory and antitrust

policy, and applied microeconomics. He

has written more than 35 articles that have

appeared in such publications as the Rand

Journal of Economics and the Yale Journal of

Regulation. He is coauthor of six books and

monographs, including the comprehensive

text, Government and Business: The Eco-

nomics of Antitrust and Regulation.

Mayo is an outdoors enthusiast, who

enjoys fly fishing, hiking, white-water

canoeing, and tennis.

Acquiring a new building for

the school, continuing to grow the

faculty and staff, and continuing

to enhance the school’s prestige

are among the key challenges

that McDonough will face in the

coming months, Mayo said.

14 The McDonough School of Business

McDonough’s new MBA

career management direc-

tor doesn’t fret about the

state of the economy.

“If you’re playing poker, you play with

the hand you’re dealt,” Assistant Dean

James Dixey said. “We have a hand we’re

dealt, and we have to play it.”

Dixey—who was associate director of

the university career center before moving

to McDonough in August—acknow-

ledged that job-hunting is tougher now

than during the ‘90s boom. Preparation

and flexibility will lead to employment,

however, he added.

“If a student is focused on a specific

position—‘I have to be an investment

banker at CSFB or Goldman in New York

working on emerging markets’—it is

tough,” Dixey said. “You’re going to be

competing for a limited number of positions.

“If the student comes in here and says

‘I’m really open to the opportunities avail-

able to MBA students and I would be will-

ing to go anywhere,’ then there are more

opportunities. When one sector is down,

something else is strong. We need to focus

where the growth is.”

The career management office is not

called a placement office because “I don’t

place students,” Dixey said. “It’s not my

responsibility or the charge of

the staff to find a job for a stu-

dent.” The office’s tasks are to

find opportunities that the

students can compete for and

to prepare the students to

compete effectively, he said.

To prepare students, Dixey

said, “We need to be available

to guide them in the process,

review their resumes, give

them advice, provide pointers

on anything they need to be

doing from the moment they

set foot on this campus till the

day they walk out the door.”

Career management person-

nel also “go into the broad

employer community—

governments, nonprofits, for-profits—and

seek out every possible hiring organization

that might have an interest in our students

and get those opportunities before our

students.”

Dixey and his assistants have prepared

an ambitious plan for maintaining relations

with employers that consistently recruit at

McDonough, going back to employers

who recruited in the past but haven’t done

so recently, and reaching out to companies

that never have recruited MBAs at

Georgetown. Amy McNamara, Director

of Employer Development and Recruiting,

is traveling extensively—across the United

States and overseas—to implement the

plan. The office also is working to attract

more recruiters from the Washington area.

In the future, Dixey wants to enlist

more alums as mentors to students and as

advisers to the career management staff.

“There’s no better counselor for a stu-

dent than an alum who has gone through

the process,” Dixey said. “They also can

keep us up to speed as to changes in their

organizations.

“We’re not going to win the game by

ourselves. We need alumni to understand

that they’re critical to our success.”

Before coming to Georgetown, Dixey

spent much of his career in aviation, work-

ing for Pan American, heading human

resources at Northwest and co-founding

an international aviation and aerospace

consulting firm.

New Director Advances Career Services by Tom Price

James Dixey, Assistant Dean and Director of MBA Career Management.

“The office’s tasks are to find opportunities

that the students can compete for and to prepare the students

to compete effectively...”

McDonough Business

School Chaplain James

English, S.J., figures his

job description was written

nearly half a millennium ago by the founder

of the Society of Jesus, Saint Ignatius

of Loyola.

“Ignatius continually asked (his fol-

lower) Francis Xavier a question,” Father

English explained. “What does it benefit

a man to gain the whole world and suffer

the loss of his immortal soul? I believe that

is a massively important question that has

to be reiterated as young men and women

are shaped into professional people in our

culture—where the point is to gain the

whole world and everything it has to offer,

and the cost many times is your human

integrity.”

It’s especially important in the busi-

ness school, he said, because temptation to

do wrong is high in business, as recent

scandals have demonstrated.

“As business becomes less and less

personal, the need for integrity can become

less and less obvious,” English said. For

managers in large corporations today, “the

people who are going to be hurt (by corpo-

rate misconduct) are very remote from

you,” so it’s easy to ignore their interests.

“We try very hard to give our business stu-

dents a sense of integrity as something you

never part with.”

English is among 35 chaplains who

serve the university, including some who

focus on the Law and Medical schools.

As a senior Roman Catholic chaplain, he

focuses on business students while minis-

tering to the entire campus.

Since arriving at the start of the

2001–02 school year, English has worked

to make himself known to his flock. His

corner office at the front of Healy Hall’s

main floor is an excellent “perch” from

which to work, he said. He likes to wander

around campus, “invading the lives of stu-

dents,” and he often sets up shop on a

bench outside Healy. He invites a half-

dozen students to dinner in the Jesuit

Community’s dining facility each Monday

night, then asks one guest to pick the din-

ers for the next week. He spoke to convo-

cations of both undergrad and MBA stu-

dents at the beginning of the current

school year. He is organizing off-campus

retreats for business students. He invites

other chaplains to join him at MBA break-

fasts, so Protestant, Orthodox Catholic,

Jewish, and Muslim students will see they

have chaplains on campus as well.

In individual meetings with their

chaplain, business students tend to seek

counsel about “the ordinary human com-

plexity that we all deal with,” English said.

“They live in the business world, but they

have much larger worlds, too.”

“We try very hard to

give our business students

a sense of integrity as

something you never

part with.”

English tells students that he occupies

a unique station on campus:

“I am not a member of the adminis-

tration. I am not a member of the faculty.

I make no judgments here. I give no marks.

I don’t make assignments. I don’t add to

the pressures under which they live. I’m a

person in a place where the pressure can be

put down for a while and where a larger

issue of what it’s all about can be addressed.”

Chaplain Ministers to B-School Students by Tom Price

15Winter 2003

Father English “invading the lives of students.”

16 The McDonough School of Business

Businesses manage invest-

ment risks in emerging

markets in many different

ways. They perform risk

analysis in advance. They

engage in hedging investments. They bal-

ance geographic risks, develop alternative

suppliers and buyers, and take advantage of

financial derivatives to offset foreign

exchange, inflation, credit ratings deterio-

ration, and other macroeconomic fluctua-

tions. They bring in powerful groups from

around the world as investors or guaran-

tors, to exert political pressure on

obstreperous host firms or governments.

They create incentives such as revenue-

contingent fees, so that governments and

other groups have a stake in the project’s

success. They securitize future earnings

and syndicate risk. They insist on contracts

with mandatory neutral arbitration clauses.

They cultivate ties with host governments,

opposition movements, and broader

publics. They develop their bargaining

power through control of technology,

phased-in future investments, and employ-

ment promises. And, they buy political risk

insurance (PRI), the focus of this article.

Public and private sector firms offer

PRI on the premise that they will have a

legal basis to pursue recovery against the

host government, should they ever be

required to compensate the insured.

Increasingly, they act in conjunction with

project-finance lenders. The World Bank’s

Multilateral Investment Guarantee

Agency (MIGA) and the U.S. Overseas

Private Investment Corporation (OPIC)

are the two largest government insurers.

Unlike commonly held views that the

public sector is an inefficient and lethargic

bureaucracy, OPIC and MIGA have been

leading innovators in the PRI market.

There are also dozens of private insurers

ranging from broad-based firms such as

Lloyd’s or AIG, to specialized units such

as Marsh Credit, Zurich EMS, Sovereign

Risk Insurance Ltd., Ascot Underwriting,

Willis Group, Gallagher & Co, and

lenders such as Banc of America Securities.

Political Risk Insurance (PRI) after 9/11/01

In the climate of uncertainty following

9/11, PRI has taken on new forms and a

renewed significance. It is still an evolving

industry. Risk insurance is unregulated and

there are few comprehensive data sets

about claims with which to evaluate pre-

miums and risks. The insurance and rein-

surance industries faced their largest losses

ever in 2001, with the tragic events of 9/11

(costing some $40–$90 billion), the

unprecedented collapse of the “power-

house” Argentine economy, and the major

corporate accounting scandals in the US.

Participants in a recent symposium on

political risk, hosted at Georgetown Uni-

versity by Professor Theodore Moran and

Gerald West of MIGA, noted that these

effects have not yet fully played out. World

financial markets are still coping with the

aftershocks of 9/11 and the interconnec-

tions between competing financial interests.

Insurance coverage capacity has been

reduced, even as ratings of major re-insurers

have fallen.

In the aftermath of 9/11, most blanket

insurance policies exclude terrorism cover-

age. Terrorism risk is now sold as a stand

alone product, like other catastrophe cov-

erages, with strict definitions of coverage,

limits of loss aggregation, and geographical

diversification. Despite rising prices, for

the year of 2002, roughly $1 billion in pre-

miums was paid for stand alone terrorism

coverage.

Managing Political Risk with

Professor Murphy in “Red Square” in front of the International Culture Center

17Winter 2003

Rising Prices

The declining supply of risk insurance has

raised the premiums for insurance on acts

of violence, shortened tenors, and

restricted coverage. Already, rates for war

or terrorism have skyrocketed. One firm

reports an increase from $1.5 million to $8

million for the same coverage. Rates have

doubled in the property and energy sec-

tors. Demand for risk insurance is often

inelastic with regard to price. Because risk-

insurance is a prerequisite for some

lenders, a number of investments have

been delayed. Still, there is more political

risk coverage available now than 10 years

ago, and prices on traditional risks such as

expropriation, non-delivery, or contract

frustration have been stable. There are also

more players around the world, in both the

public and private sectors.

Uncertainty over country-ratings adds

to upward pressure on insurance prices.

Ratings agencies are in a dilemma. If they

issue precautionary ratings adjustments,

they may add to pressures that degrade

credit quality, in a self-fulfilling prophecy.

But if they wait until after events occur, it

is often too late for investors to take pro-

tective action.

Regional Variations

Worldwide, the stock of foreign direct

investments (FDI) increased four-fold

from 1990 to 2001, from $1.7 trillion to

$6.6 trillion. One-third of this went into

emerging markets. But global foreign

direct investment flows fell by half from

2000 to 2001. Perhaps surprisingly, most

of that drop was in Organization for Eco-

nomic Corporation and Development

countries, which saw a 59% decrease in

FDI inflows. FDI to emerging markets fell

just 14%. Investments continue to flow

into China, Mexico and South Africa.

FDI actually tripled in some unusual host

countries, including South Africa,

Morocco, Algeria, and Croatia. Mexico

and Russia also received significant invest-

ment growth. Energy and telecommunica-

tions projects led FDI in the 1990s, but

many investors in these sectors have now

divested. Investors are shoring up their

capital structures at home, and lenders are

tightening credit standards.

Uncertainty remains especially high

throughout the Muslim world (including

Indonesia), with its 1.2 billion consumers.

The cycle of violence in the Mideast feeds

this uncertainty. Unlike natural catastrophes

that are economically “blind,” the Al Qaeda

network has intentionally targeted eco-

nomic vulnerabilities. Despite the horror

of these events, terrorists’ ability to directly

impede business is limited, as a percentage

of world economic activity. Their ability to

create fear depends on leadership in gov-

ernment and the private sector. The “war

on terror,” the hullabaloo over the “pre-

emptive” overthrow of the Iraqi govern-

ment, and concern over proliferation of

massively destructive weapons have dis-

tracted top U.S. policy-makers from eco-

nomic issues in Latin America and other

non-threatening emerging markets.

Concern is high for Argentina’s

neighbors, especially Brazil, and for

Turkey, with fears of contagion elsewhere.

For underwriters, the worst-case scenario

is a complete country meltdown, as

recently occurred in Argentina, with its

default, devaluation, and banking collapse.

For that reason, in large economies such as

China, Brazil, Russia, and Indonesia,

underwriters syndicate coverage, and also

limit their total country exposure.

The View from Emerging Markets

The combination of badly managed

domestic politics and international rules

set by entrenched interests in powerful

countries has contributed to steadily wors-

ening global wealth inequalities over the

past 200 years. Communications technolo-

gies and other aspects of globalization have

heightened the awareness of these wealth

gaps (Baywatch is the most-watched show

in the world, for example), but have not

reduced them. The perception of being

“left behind,” even as traditional social

institutions such as family roles, villages

and religions are eroded, has broadened

popular support for reactionary political

movements. These exacerbate instability

and political risks.

PRI sometimes acts to strengthen

the negotiating hand of foreign firms (and

their home governments) over emerging-

market governments, a fact that is not

usually welcomed. But it can also act to

appease the concerns of nervous investors,

help them achieve investment-grade ratings,

and improve the investment climate.

Whatever the merits of these percep-

tions or the causes of political instability in

emerging markets, the result is that some

method of managing political risks is

essential. Emerging market governments

must create a stable climate for the contin-

ued flow of capital and technology that

they require for growth. Smart managers

combine a wide variety of methods to mit-

igate risk. At a turbulent time in the world,

PRI is a thriving industry.

Dale Murphy is Assistant Professor, Landegger

Program in International Business Diplomacy. He

teaches students in the McDonough School of Business

and the Walsh School of Foreign Service. He is the

author of a forthcoming book from Oxford University

Press on international regulatory advantage.

Political Risk Insurance by Dale Murphy, Ph.D.

Professor Reena Aggarwal’s article,

“Demutualization and Corporate Gover-

nance of Stock Exchanges,” was published

in the Journal of Applied Corporate Finance,

Spring 2002, Vol. 15, No. 1. She has also

written “Allocation of Initial Public Offer-

ings and Flipping Activity,” forthcoming

in the Journal of Financial Economics. She

presented a paper, “Ownership Structure

and Initial Public Offerings,” (with Leora

Klapper of the World Bank) at the Finan-

cial Management Association Annual

Meeting in San Antonio in October 2002

and at the Georgia Tech/Fortis Interna-

tional Finance Conference in Atlanta in

April 2002. She presented a paper entitled

“Portfolio Preferences of Foreign Institu-

tional Investors,” (with Leora Klapper of

the World Bank and Peter Wysocki of

MIT) at the University of Florida in

October 2002, and at Yale University and

the University of Alabama in November

2002.

Professor Alan R. Andreasen is the

author of two recently published books:

Marketing Research That Won’t Break the

Bank, (San Francisco: Jossey-Bass, 2002), a

trade book; and Strategic Marketing for

Nonprofit Organizations, 6th Edition, with

Philip Kotler, (Englewood Cliffs, NJ:

Prentice-Hall, 2003), a textbook.

He addressed the local chapter of the

American Marketing Association on

“Social Marketing” in November, and has

conducted seminars for the AARP, the

Girl Scouts of America, and the Environ-

mental Protection Agency.

Professor Ken S. Cavalluzzo had two

papers published in 2002. “Competition,

Small Business Financing and Discrimina-

tion: Evidence from a New Survey,” Jour-

nal of Business, October 2002, with co-

authors Linda Cavalluzzo (CNA Corp.)

and John Wolken (Federal Reserve) exam-

ined access to credit by minority-owned

businesses, and “Competition, Fee-for-

Service Requirements, and Government

Performance: Evidence on the Federal

Reserve,” Journal of Accounting and Public

Policy, December 2002, looked at the

impact of competition on the performance

of government agencies.

Professor Robin L. Dillon co-authored

“Assessment of Cost Uncertainties for

Large Technology Projects: A Methodol-

ogy and an Application,” Interfaces, Vol.

32, No. 4, July–August 2002, pp. 52–66

with Richard John and Detlof von Win-

terfeldt, both of the University of Southern

California. The paper described their

18 The McDonough School of Business

FACULTY

method for estimating cost uncertainties

for large, complex projects, combining the

principles of probabilistic risk analysis with

procedures for expert elicitation to incor-

porate uncertainties and extraordinary

events in cost estimates. The Department

of Energy implemented the process to

select a new tritium supply source.

William G. Droms, John J. Powers, Jr.

Professor of Finance, presented a paper on

the topic of mutual fund performance per-

sistence at the Annual Personal Financial

Planning Conference of the American

Institute of CPAs in Orlando. He also pre-

sented this paper to the Northern Virginia

Chapter of the American Association of

Individual Investors and at the Advanced

Personal Financial Planning Workshop

sponsored by the Georgia Society of CPAs

in Atlanta on September 27.

Achievements

Kasra Ferdows, Heisley Family Pro-

fessor of Global Manufacturing, moderated

the keynote session of the AspenWorld

2002 conference held in Washington,

D.C. (October 27–November 1). The

conference is held every three years for

CEOs, CIOs and other senior executives

from process industries (petroleum, chem-

icals, pharmaceuticals, metals, etc.). Fea-

tured speakers included Jack Welch, for-

merly of General Electric, and Geoffrey

Colvin of Fortune magazine. Ferdows has

written a research paper entitled “Dis-

persed Manufacturers” that has been

accepted for publication in a forthcoming

issue of Industrial Management. The study

presents a model for how involved a com-

pany should be in managing the emerging

supply chain system of “dispersed manu-

facturing.”

Professor Robert M. Grant was

appointed to the Scientific Committee of

Eni Corporate University in April 2002.

Eni Corporate University is the knowledge

management and management develop-

ment organization created by Eni S.p.A.,

Italy’s leading energy company and largest

shareholder-owned corporation in terms of

market capitalization.

He has written three articles for pub-

lication: “La Gestione Strategica della

Competenze Organizzative,” co-authored

with Andrea Lipparini, Sviluppo & Orga-

nizzazione, No. 192, Luglio/Agosto 2002,

pp. 1–13; “Are Firms Superior to Alliances

and Markets? An Empirical Test of Cross-

Border Knowledge Building,” co-authored

with Professor Paul Almeida and Jaeyong

Song, Organization Science, Vol. 13, 2002,

pp. 147–161; and “A Knowledge Access-

ing Theory of Strategic Alliances,” co-

authored with Charles Baden-Fuller, Jour-

nal of Management Studies, forthcoming.

He spoke at a symposium honoring

John Stopford, an international business

scholar, at the London Business School in

June 2002. The conference papers will be

published in The Future of the Multina-

tional Company (Wiley, Chichester, 2003),

J. Birkinshaw, G. Yip, C. Markides, and S.

Ghoshal, eds. He participated in the Semi-

nar in Innovation and Business hosted by

the Business Industrial Association of

Bologna in Bologna, Italy in September

2002. The conference introduced leading-

edge strategic management concepts to

business leaders in the Bologna and Emilio

Romagna region.

Professor Brooks Holtom was co-

author of three research articles in 2002.

“The Relationship between Work Status

Congruence and Work-Related Attitudes

and Behaviors,” with Tom Lee (University

of Washington) and Simon Tidd (Vander-

bilt University) was published in the Jour-

nal of Applied Psychology, 87(5), 903–915.

With Ray Friedman (Vanderbilt Univer-

sity), he also wrote “The Effects of Net-

work Groups on Minority Employee

Turnover Intentions,” published in Human

Resource Management Journal, 41(4), 405

–421. Published in the Journal of Manage-

rial Issues, 14(2): 181–197, was the article

“The Influence of Motivation to Attend,

Ability to Attend, and Organizational

Commitment on Different Types of

Absence Behaviors,” co-authored with

James Burton (University of Washington)

and Tom Lee (University of Washington).

Michael B. Levy, Distinguished

Teaching Professor, was nominated by U.S.

Senate Majority Leader Thomas Daschle

and appointed by President George W.

Bush as a member of the U.S. Commission

for the Preservation of America’s Heritage

Abroad. The Commission’s mission is to

preserve cultural and communal property

in the former Soviet Union and Eastern

Europe that was threatened by the Nazis

and abandoned under the Communists.

The Commission, composed of U.S. citi-

zens, identifies and protects properties,

such as cemeteries, churches and syna-

gogues, and artifacts from small minority

communities. Levy was first appointed to

the Commission by former President

William J. Clinton.

Dean John W. Mayo, Professor and

Director of the Center for Business and

Public Policy, was elected to the National

Safety Council Board of Directors. His

term started in October 2002 with the

opening of the NSC’s 90th Annual

Congress & Expo in San Diego. He will

also serve as Vice President of the Educa-

tional Resources Division, which addresses

educational and societal needs related to

safety and health. The NSC is a not-for-

profit, nongovernmental, international

public service organization dedicated to

protecting life and promoting health. The

Council’s Board of Directors provides

strategic and fiduciary oversight to the

Council’s staff and activities involving its

37,500-plus member businesses, labor

organizations, schools, public agencies, pri-

vate groups and individuals.

Professor Douglas McCabe co-authored

with Professor James Angel the article

entitled “Market-Adjusted Options for

Executive Compensation” in the June 2002

issue of the Global Business and Economics

Review. This was the lead article of this

issue. He received a national research cita-

tion in Organizational Behavior, Eighth

Edition ( John Wiley & Sons, Inc.).

Additionally, he wrote the article entitled

“Rerum Novarum, An Examination and

Application of its Principles to Strategic

Ethical Issues in Contemporary Domestic

and International Labor-Management

Relations and Global Competitiveness” in

the Journal of Global Competitiveness (Fall

2002). He also presented an executive edu-

19Winter 2003

20 The McDonough School of Business

cation seminar entitled “The Interface

between Management and Leadership” for

the United States Attorney’s Office. He

was selected to serve on the editorial board

of a new journal, Human Resource Manage-

ment Education Review, and was also

appointed to the University Committee on

Rank and Tenure at Georgetown University.

Professor Keith Ord presented his

paper titled “The Single Source of Error

Specification for State Space Models” at

the Workshop on State Space Models

hosted by the Royal Academy of Arts and

Sciences in Amsterdam, Netherlands in

August 2002.

Professor Sundaresh Ramnath’s

research article “Investor and Analyst

Reactions to Earnings Announcements of

Related Firms: An Empirical Analysis”

was published in the Journal of Accounting

Research, Vol. 40 No. 5, December 2002,

pages 1351–1376. Results of this study

showed further evidence of investor and

analyst under-reaction to publicly available

information.

Professor N. Lamar Reinsch, Jr. co-

authored “Writing in Noninterpersonal

Settings: Rhetorical Choices by Nonpro-

fessional Writers in Letters to a Senator,”

with Professor Annette N. Shelby. The

paper, examining writers’ decision making

in composing letters to people with whom

they have few if any personal connections,

was published in the Journal of Business and

Technical Communication ( January 2003,

vol. 17, pages 50–83). An earlier version of

this article received the Distinguished

Paper Award at the 2001 meeting of the

Association for Business Communication,

Southwest Federation of Administrative

Disciplines.

He presented his paper, “The U.S.

Letter to China: A Case Study in Institu-

tional ‘Apology’,” at the Association for

Business Communication conference held

in Cincinnati, Ohio on October 26. On

October 5, he presented “Done on Earth:

From Withdrawal to Engagement” at a

conference in Malibu, California, launch-

ing Pepperdine University’s new Center

for Faith and Learning.

Professor Michael P. Ryan has written

the article “Knowledge, Legitimacy, Effi-

ciency, and the Institutionalization of Dis-

pute Settlement at the World Trade Orga-

nization and the World Intellectual

Property Organization,” Northwestern

Journal of International Law and Business,

forthcoming. He gave two keynote speeches,

“Intellectual Property Strategies for the

Biotech Value Chain,” at the 8th Annual

Pacific Rim Biotech Conference in Auck-

land, New Zealand in November 2002 and

“Intellectual Property Strategies for Tech-

nology Parks” at the Ministry of Science and

Technology Conferences in Dalian and

Shenzhen, China in August 2002.

Professor Edward Soule served as a

panelist at the National Investor Relations

Institute symposium on “Restoring

Investor Confidence in the U.S. Capital

Markets” held at the National Press Club

in Washington, D.C. on May 6, 2002.

Michael E. Staten, Distinguished

Teaching Professor and Director of the

Credit Research Center, gave testimony on

“College Students and Credit Cards”

before the U.S. Senate Committee on

Banking, Housing and Urban Affairs on

September 5, 2002. Also in Washington,

D.C., he presented his paper, “Regulation

of Subprime Mortgages: The Impact of

Predatory Lending Laws on Supply” at the

Federal Trade Commission Mortgage

Market Roundtable on October 16, 2002

and at an American Enterprise Institute

conference on October 30, 2002. He also

presented “The Impact of Credit Counsel-

ing on Borrower Credit Usage and Pay-

ment Behavior” (co-authored with Gre-

gory Elliehausen and E. Christopher

Lundquist) at the Western Economic

Association annual meeting in Seattle in

July 2002. Two of his research articles have

been published: “Plastic Choices: Con-

sumer Usage of Third Party vs. Proprietary

Credit,” (with Ken Carow) in the Journal of

Economics and Finance, Vol. 26, No. 2

(2002), 216–232 and “The Impact of

Casino Gambling on Personal Bankruptcy

Filing Rates,” (with John M. Barron and

Stephanie Wilshusen) in Contemporary

Economic Policy, Vol. 20, No. 4, October

2002, 442-455.

Professor David A. Walker, John A.

Largay Professor of Finance and Director

of the Capital Markets Research Center,

has been re-elected as chair of the board of

trustees for the Financial Management

Association International (FMA). FMA is

the world’s largest finance association that

focuses upon both academicians and prac-

titioners. David served FMA as president

(1994–1995) and vice president and pro-

gram chair (1990–1991). He has been a

member of the board of trustees for the

past seven years.

His research article titled “Financial

and Economic Determinants of Privatiza-

tion” was published in Economia Inter-

nazionale, February 2002, Vol. LV, No. 1,

pp. 105–130.

21Winter 2003

Since July 2002, Professor Jose-Luis Guer-

rero-Cusumano appeared as the guest of

numerous radio broadcasts and television

programs, including the Voice of America

International (radio), the International

Bureau of Broadcasters (television), Global

Affairs Television (PBS), and Univision-

International TV.

Topics addressed and the dates of inter-

views include: “Free Trade in the Ameri-

cas,” International Bureau of Broadcasters

call-in show for Latin America, October

31; “How the Brazilian Elections Will

Affect Latin America,” VOA call-in show

for Latin America, October 9; “How

America Changed after September 11th,”

VOA (rebroadcast in U.S.), September 9;

“Competitiveness in the Andean Pact,”

VOA call-in show for Latin America,

August 20; “Latin American Economies:

Going South?” Global Affairs Television

(PBS), August 21; “Troubled Waters in

Brazil: The Business Situation and the

IMF,” VOA call-in show for Latin Amer-

ica, August 27; “Competitiveness in Latin

America,” VOA, July 2; “Is Mercosur Cre-

ating Problems for Peru?” VOA call-in

show for Latin America, July 9; and “How

Is the Scandal of WorldCom Affecting

South America?” Univision-International

TV, July 16.

Professor Michael R. Czinkota wrote an

editorial titled “Success of Globalization

Rests on Good Business Reputations,”

published in the October 12 issue of The

Japan Times. Stating that “these are not

good times for business ethics in the

industrialized nations,” he then pointed to

recent business scandals and problems. “In

the U.S. it has been the overstatement of

profits by and exorbitant remuneration of

chief executives. In Japan the concern has

been with misidentification of products

and payoffs. In Europe the issue has been

bribery and understatement of profits.

These developments place the acceptance

of economic globalization at risk.” He con-

cluded by saying that “It is important that

Japan, the European Union and U.S. col-

laborate to guard the virtue of market

forces so that the positive benefits of glob-

alization can flourish in a world that des-

perately needs economic wind in its sails.”

Professor Douglas M. McCabe was inter-

viewed on ABC World News Tonight with

Peter Jennings on Tuesday, October 1,

2002 regarding the strike on the West

Coast ports. He was also interviewed on

CNBC on Monday, October 7, 2002

regarding labor relations in West Coast

longshoring.

In the Media

In The Washington Post, September 2,

2002, Lisa Kaminski, Director of the

IEMBA program, commented about

regional executive MBA programs in the

story, “An Extra Degree of Success.” Refer-

ring to the effect of the economy on these

programs, she said, “More students are

paying their own way than in other years,

and it’s been harder to negotiate with com-

panies to get them some time off.” The

article pointed out that Georgetown “earns

the most national acclaim. It was ranked

ninth in the country by Business Week in

a recent poll.”

ABC Radio Networks interviewed Profes-

sor William M. Emmons III about World-

Com on July 7, 2002.

Professor Alan R. Andreason’s half-hour

interview on social marketing for Prime

Time Radio, on May 30, 2002, was broad-

cast to 130 radio stations in the U.S. and

the Armed Forces Network. It aired on

WBJC in Baltimore on June 9.

One of Andreason’s research articles was

referenced in the Fall 2002 issue of the

ACRNews, a publication of the Association

for Consumer Research. “I learned that

achieving Research with Legs starts by

working backwards. . . The power of work-

ing backwards is discussed in a wonderful

article entitled Backward Market Research

by Alan Andreasen in the 1985 May-June

issue of the Harvard Business Review. This

article should be required reading for all

consumer research, marketing and MBA

classes,” wrote Martin Horn, Senior Vice

President and Group Director of Strategic

Planning & Research, DDB Advertising,

in his article titled “Research With Legs.”

22 The McDonough School of Business

Professor Michael E. Staten, Director of

the Credit Research Center, was quoted

in the March 2002 issue of Florida Trend

in the article “How Far Should Florida Go

in Curbing Credit?” Commenting on the

drop in loans in North Carolina, South

Carolina and Virginia to people making

less than $50,000, he said, “These could

be perfectly legitimate borrowers who are

no longer being served. People get taken

on used cars all the time, but the solution

to that is not ‘let’s stop the selling of

used cars’.”

Della Bradshaw of The Financial Times

wrote of John W. Mayo’s appointment as

dean on September 2, 2002: “Georgetown

University has named one of its own as the

new dean of the business school. Econo-

mist John Mayo was senior associate dean

at the school from 1999 to 2001 and is

currently director of the Centre for Busi-

ness and Public Policy at Georgetown. He

has been appointed for a two-year term.”

Professor Edward Soule’s comments

appeared in a story, “WorldCom Arrests

Made,” on the Asia Africa Intelligence

Wire on August 2, 2002. Referring to

Scott D. Sullivan, former WorldCom

CFO, and David F. Meyers, former

WorldCom controller, the article reported

that “Edward Soule, a professor of corpo-

rate ethics at Georgetown University’s

McDonough School of Business, said that

Sullivan’s alleged failure to notify others of

the change [in accounting] poses the

biggest problem. Soule said that even if

Sullivan and Myers were justified in claim-

ing some expenses as capital expenditures,

they violated fundamental accounting rules

by failing to document the changes.” “To

switch back and forth without telling any-

one is a prescription for manufacturing

earnings,” he said. “No matter how good

your argument is, it was a change you

should have had a spotlight on because it

was of such a magnitude—it was all their

earnings.”

On August 9, 2002, Soule was again quoted

in a follow-up story on WorldCom on the

Asia Africa Intelligence Wire. In speaking

of reserve accounts as one of the most sub-

jective areas of financial reporting, Soule

said, “They are a judgment call. They pre-

sent an opportunity for manipulation.”

In an article in Occupational Hazards,

September 2002, Gayla McClusky, of the

American Industrial Hygiene Association,

told of her work with the Center for Busi-

ness and Public Policy at McDonough.

She said that AIHA has been working

with the Center to “raise the issue of

workplace safety and health as more of a

national priority.”

Professor Ken S. Cavalluzzo commented

in Knight Ridder/Tribune Business News on

August 4, 2002. In the article, “Hispanic

Businesses Still Have Trouble Getting

Financial Assistance,” he said that “con-

nections between banks and Latino com-

panies have not improved in recent years.”

He added, “When you control for risk

characteristics, the denial differences are

still pretty pronounced.”

We encourage all business

school alumni—undergraduate,

MBA, and executive MBA—

to send us or your class agents

class notes. We do not accept

engagement or pre-birth

announcements.

23Winter 2003

April 21, 2002. Carol spent the

summer enjoying their new son,

but will return to BP and resume

her position as the director of

Credit Card Marketing for the

United States.

1991Jay and Janelle (Lorenz) Wrightreport they are the parents of

two children: Corinne Cather-

ine, born in May 2001, and

Theodore Piers, born in

September 2002. The Wrights

live in Potomac, Md.

1992Leonard Way was recently

named VP for Asset Manage-

ment for The Beach Company.

This Charleston, S.C.-based

company is a full service real

estate firm offering develop-

ment, sales, leasing, and man-

agement services.

Troy Thorn and his wife Arlene

are proud parents of Tatum

Monet Thorn born February 24,

2002. Troy resides in Fort Worth

and is an administrator for the

City of Dallas. In his spare time,

he operates an events company,

2.82 Inc. Troy challenges his

roommates from Lisner 4 to step

up to the plate and produce

some playmates for Tatum.

1994Paul Burgon graduated from

Georgetown’s International

Executive MBA program in

2002. He currently works in

mergers and acquisitions as the

director of corporate develop-

ment for Danaher Corporation

in Washington, D.C., and lives

in Virginia with his wife, Jill,

and two children.

1995Marc Siegel and Alison McAr-dle (SLL ‘95) were married on

October 26, 2002 in Bronxville,

N.Y. Best man was Chris Sten-rud (F ‘95). Hoyas in attendance

include Mark Pasko (C’95), KenHanada (F’95, MBA ‘01),Michael Stewart (F’95), JoeScafidi, Lesley Kim (B’96),Cameron Chartouni, SofiaMonahogios (F’95), Eric Tesdall(C’95), Scott Byers (C’95), SeanMurphy (C’95), Candy (Weaver)Murphy (F’96), Eran Klein(C’95), Nilana Gunasekaran(F’94), Carolina Hoyos, and

Naomi Chan.

1997Brian Hall and wife LauraSteiner Hall (MSFS ‘95) are

overjoyed to announce the birth

of their first child, Benjamin

Carter Hall, October 13, 2002 at

Georgetown University Hospital.

All three are doing well, and Ben-

jamin already has his first George-

town teddy bear as a memento of

his first trip to campus!

1998 John Scuorzo and RebeccaTegey (FLL ‘98) were married on

September 8, 2001 in the

Dahlgren Chapel at George-

town. The reception was held at

Dumbarton House on Q Street.

Several alumni were members of

the wedding party and many

more of the couple’s college

friends returned to Georgetown

from across the country and

around the world to join in the

celebration. John and Rebecca

live in New York City where

John is an investment-banking

associate at SalomonSmithBar-

ney and Rebecca is an advertis-

ing account executive at Ogilvy

& Mather.

UNDERGRADUATE

1968In June, Gina Wolfe, associate

professor of Theology at Saint

John’s University in Collegeville,

Minn., participated in the Inter-

national Symposium on Reli-

gion, Ethics, and Contemporary

Society—West and East. The

Symposium was sponsored by

the National Center for Reli-

gious Studies and the Institute

for the Study of Buddhism and

Religious Theory, both of which

are at Renmin University of

China. The Beijing meeting,

which brought together nine

Chinese scholars and nine schol-

ars from the West, provided an

opportunity for cross-cultural

and interfaith dialogue with par-

ticular emphasis on issues of

economic and business ethics.

Wolfe’s presentation, “Leader-

ship and the Call to Disciple-

ship: A Roman Catholic Per-

spective,” focused on managerial

leadership in the corporate

sphere.

1976David Pilvelait (david@home-

portcommunications.com) is the

founder and president of Home

Port Communications (HPC) in

Fairfax Station, Va. HPC is a

marketing consulting firm for

the recreational and commercial

marine industry. He’s a frequent

speaker on marine marketing

topics and a columnist for sev-

eral marine industry trade maga-

zines and newsletters.

1988Carol Hartigan Prince and her

husband John are proud to

announce the birth of their son

John Michael ( Jack) born on

Alumni Notes

ALUMNI PROFILE

Alum Deals with Jets and Tigers, but Puts Family First

Tyler Tysdal (B’93),

co-owner of Tyler Jet

and CFO of Medaus,

describes himself as

a “family-balanced

entrepreneur,” one

who adapts his busi-

ness interests to his

wife’s career. “We

just moved from

Tyler, Texas to Den-

ver because my wife

Natalie landed the anchor spot on a morning television show. I can

run my business from there, and be with her and our two-year-old

daughter, Addy,” he says. “Family means the most to me.”

After receiving his degree from Georgetown, Tysdal worked as a

financial analyst at Alex.Brown & Sons in Baltimore and then went to

the Harvard Business School (MBA ‘97). When e-commerce began to

evolve rapidly, he raised the start-up capital for Chemdex, the first

business-to-business exchange to go public. Then, with the investor’s

proceeds from Chemdex, he established a fund to buy traditional

companies. One purchase was Tyler Jet, the world’s largest dealer of

private jet airplanes.

Through his efforts, Tyler Jet co-founded eBay Aviation and set the all-

time eBay sales record. “A Gulfstream, formerly owned by our cus-

tomer, Aerosmith, was bought by a company in the Congo for $4.9

million,” says Tysdal, who pilots a Cessna 172. He also recruited Terry

Bradshaw, former NFL player and customer, to be the company

spokesperson.

As CFO of Medaus, Tysdal is busy engineering the consolidation of the

$2 billion compounding pharmacy industry with a major private

equity firm. He has held CEO positions with an “edutainment” retail

company and an e-commerce business-to-business marketplace.

In Tyler, Tysdal raised funds and did hands-on animal care at the Tiger

Creek Refuge, a shelter for abused and abandoned tigers. “Cage rules

are: 1. Carry a big stick. Tigers will bite the stick, not your arm.

2. Never turn your back, or they will play by jumping on you. 3. Don’t

get knocked down—anything under their eye level is prey,” he says.

As Class of 1993 Chair, Tysdal urges classmates to attend their 10th

reunion in May 2003. “The greatest benefit of my Georgetown experi-

ence was the balance of business and liberal arts. It built my character.

The reunion is a place to gain even more, from continued friendships

to networking opportunities.”

24 The McDonough School of Business

MBA

1983From Lisa Manzi Jacobs (C ‘81):Two notable events are occurring

in my career. In 2003 I will cele-

brate my 20th anniversary with

UBS PaineWebber (Paine Web-

ber Jackson & Curtis when

I joined in 1983). I have been

with the firm since my gradua-

tion from the MBA program.

In January 2002 I received a

promotion to the position of

regional director, the first

woman regional director in the

history of the firm (about 125ish

years). In 2001 I was the recipi-

ent of the Connolly Leadership

Award at UBS PaineWebber.

1985Nicholas L. Spyros (C ‘83, Law‘94) is a partner in the Palo Alto

office of Baker & McKenzie,

where he specializes in venture

capital, private equity, and inter-

national joint venture transactions.

Douglas Knopper has been

appointed VP/GM of Adver-

tiser and Publisher Solutions at

DoubleClick Inc. in New York.

He has global responsibility for

all advertising management

tools within the company’s port-

folio of technology products.

DoubleClick is the leading

provider of tools for advertisers,

direct marketers and web pub-

lishers to plan, execute, and ana-

lyze their marketing programs.

Amy Schoen married Alan Rot-

nemer on July 20, 2002. The

couple is residing in Rockville,

Md., and Amy is the owner of

12-year-old La Petite Classique

clothing boutique in Bethesda.

Alumni Notes

1986Jim Murphy and his wife Abby

announce the birth of their son,

Brendan, who was born on

March 21, 2001. Jim is looking

for fellow Hoyas in the Jack-

sonville, Fla. area.

1987Harvey Chimoff formed Primos

Trading Company, LLC in

2001. It’s an international com-

pany that imports, distributes,

markets, and sells wines from

Spain’s Mentrida wine region.

He and his company were fea-

tured in an article in The Star-

Ledger (Newark, N.J.) on Octo-

ber 30. According to the article,

Harvey began researching an

import-export venture in early

1999. After two years of

research, travel, and regulatory

procedures, his warehouse is full

and he’s open for business. He

also publishes V1 Insights, a mar-

keting newsletter in support of

Velocity 1Consulting, Inc. chi-

moff@velocity 1.com

Sunil Baliga, director of net-

working products at Kawasaki

LSI, was elected chairman of the

Technical Education & Market-

ing Working Group, for the

Network Processing Forum

(NPF) in Fremont, Calif. He has

more than 15 years of experience

in marketing semiconductors,

primarily in the programmable

logic and ASIC markets.

1988Pamela Fairchild Leslie( JD/MBA) writes that she is

enjoying spending time with her

children Elizabeth, age 4, and

Winston, age 2, and is looking

forward to seeing Lisa BrownKelly soon. She hopes her class-

mates are well.

25Winter 2003

1990Class Agent: Lorraine Herrherrdesign@aol.com

Jane Ashton Hawes continues

to pursue her writing career in

Delaware, Ohio. She along with

daughter Emma and son Colin

cheered on husband Dick as he

participated in the Olympic

Torch Relay in Columbus, Ohio

earlier this year.

Lori Michaels is director of cor-

porate development for Bell

Mobility in Ontario, Canada.

She resides in Canada with her

journalist husband and their

proficiently trained search-and-

rescue German Shepherd. Lori

continues to be involved in

African activities, usually visit-

ing once each year. In Decem-

ber 2002 she heads to Kenya to

participate in a lion study and to

visit several health projects. Lori

keeps in touch with Mary Col-man St. John who lives in New

Jersey with her musician hus-

band and young daughter. Lori

reports connecting with JeanneLarson who last was living in

Barcelona before planning to

relocate to southern France.

Steve Straske, Monte Carloand Kevin Welch celebrated the

2002 fourth of July with, what

else, a golf outing. Steve and his

wife Janice were in Chicago with

their children, Elly, Martha

Davis, and Mary Stephen, in

August to see the Cubs and make

a pilgrimage to the American

Girl store.

Dave Burke lives in St. Paul with

his wife Cathy and their children

Whitney, Connor, and Jewell.

Nearby, Beth Laboe Edgar lives

in Inver Grove Heights, Minn.

with husband Jason and daugh-

ters Isabel and Colette.

Christine Campe-Price and her

husband Cris live in Falls

Church, Va. with their children

Peter and Eliza.

Eileen Utter lives in San Fran-

cisco. In September 2002 she

directed four original plays for a

sold-out run with rave reviews.

She vacationed in Tecate, Mex-

ico with Lorraine Herr this Aug-

ust.The two former classmates

played tennis, hiked daily, and

boxed with devastating results.

Kitty Swenson works at

Wasatch Advisors in Salt Lake

City. She and husband Steve are

busy with daughters Scout and

Sara. Kitty thought that her

Georgetown classmates would

all come out of the woodwork

in search of accommodations

for the Winter Olympics.

1991Class Agent: Mary Pat Blaylockmpblay@hotmail.com

1992Class Agent: Jon Gafnijngafni@cwix.com

Jonathan Foxman was the co-

founder, COO, and acting CFO

of SOL Communications, a

GSM-based PCS/wireless

phone company headquartered

in Scottsdale, Ariz. VoiceStream

acquired the company, and he

has since moved home to Wayne,

Pa., with his wife Karin and

four children, ages 9, 7, 5, and 3.

1993Class Agent: Jordan O’Neilljjoneill@chevychasebank

Taylor Simmons still lives near

Georgetown with his wife Ellen

and 4-year-old daughter

Alexandra. As chairman of the

planning committee, Taylor

encourages all 1993 classmates

to attend their 10-year reunion

on May 30-June 1, 2003. Fur-

ther, he challenges the other

reunion classes (‘83, ‘88, and ‘98)

to see which class has the high-

est percentage of alumni attend-

ing. Please send suggestions for

reunion events to

ttsimmons@aol.com.

Kathleen McCarthy Petersteaches marketing and business

at Seminole Community Col-

lege in Oviedo, Fla., and also is

director of marketing for

Orlando City Ballet. She is

finding non-profit marketing

challenging,and is bringing to

OCB her years of experience (if

not her marketing budget) from

her previous role as brand man-

ager at Disney Cruise Line.

Mike MacKeen has joined Rev-

olution Partners, a technology-

focused investment bank, as

managing director and head of

the Private Equity business.

Mike and his wife Jane live out-

side of Boston with their four

children.

Jim Colletto and Katy (Cancro)Colletto just welcomed their

first daughter, Mia, into the

world in October. Jim and Katy

live in Mill Valley, Calif.

1994Class Agent: David Geedavid@geefamily.com

I wanted to start this column

with a little reflection—as I

write this, a little over 10 years

have gone by since we all hud-

dled together in Old North to

listen to Dean Parker, attend

classes, and embark on our col-

lective futures. Some of our

class married each other—Eric

& Evan, Paul & Jane—others

have moved across the globe

and back again, many have

started families and lots of us

are working hard doing what we

do. After writing this column

for eight years, I’m as bullish

today as I have ever been on the

value of the two years I spent in

Georgetown, and am in regular

contact with many of our fellow

alumni personally and profes-

sionally. I’d like to thank all of

you for keeping in touch—

passing on news and informa-

tion and for being a terrific net-

work. You can always reach me

at david@geefamily.com

David and Michelle Gee wel-

comed Sydney Rebecca into the

world on April 18. Sydney is the

little sister to Nathalie

Shoshana who turns three in

January 2003. He also had

lunch with Dave Petronirecently. Dave is hanging out on

the East Bay in northern Cali-

fornia and is VP mergers and

acquisitions at Peoplesoft.

Chris and Paget Bahr welcomed

Hunter Wilder into the world

on October 9, 2002. Wilder is

the younger brother of Hazard

Gage. The Bahrs also recently

relocated from Redwood City,

Calif. to Old Greenwich, Conn.

Chris is currently the executive

assistant to the GM, Applica-

tion & Integration Middleware

Division at IBM.

Frank (JD/MBA) and Carol Ann

Manzella added Timothy Fran-

cis on May 6. He weighed in at

7lbs. 4 oz. and was 19 1/2

inches long. Big sister Casey (5)

and big brother Sean Michael

(2) are thrilled as well! The

Manzellas also celebrated their

10th wedding anniversary.

26 The McDonough School of Business

MB

A Marlise Ellis accepted a position

outside of Philadelphia with a

company called L & N Sales and

Marketing. They make hair

accessories and grooming prod-

ucts under the brand names of

Scunci, Seventeen, and Cos-

mopolitan. They actually have

the largest market share in their

category. The products are sold

in mass market and drug stores

across the country. She’s working

with the design and marketing

departments doing some product

design and a lot of product

development. Word is she’s relo-

cated to Philly.

Michael Derkach left the Inter-

net world and is now working at

Sumitomo Corporation as direc-

tor of investment management

where he’s involved in evaluating

and managing equity invest-

ments and acquisitions primarily

in technology, heavy industry,

power, and professional services.

Bailey Marks has a new email

address—bailey@bmarks.com

Marc Gross, with wife Louise

and daughter Aurelia (2 1/2),

just finished the renovation of a

Regency period house in St.

Albans (north of London) and

have just bought a 1,000-year-

old monastery in central Italy

(on the border of Tuscany and

Umbria) which they will be

completely rebuilding as a holi-

day home and vacation rental.

The monastery and additional

farmhouse sit on a hilltop in 12.5

acres of grounds which they’re

planning to fill with a pool and

tennis court . (I would like to

propose this as the location for

the 10 year reunion.)

include companies in high tech,

consumer goods, consumer ser-

vices, retail design, political cam-

paigns, not-for-profits, polling

firms, ad agencies, and advocacy

based organizations across the

country. Her services include

focus group moderating, in-

depth interviews, ethnographies,

qualitative analysis and report-

ing, and marketing strategy and

planning. Angelica says “Finally,

I love what I do!” She moved

from Alexandria, Va. for “love”

and now happily resides in Little

Rock, Ark. You can reach

Angelica at abeard@focusgroup-

experts.com.

Francisco Barriocanal and his

wife Silvana report the birth of

their identical twin sons on

December 7, 2002. Twins Fran-

cisco and Fernando join older

sister Ines (2).

1995Class Agents: Scott Shorescott.a.shore@pwcglobal.com

Amy Van Dykeabvandyke@aol.com

Brian Porto was married on

September 14, 2002 to Cather-

ine Parillo in Bethesda, Md.,

where they are living. ChetSteiner and his wife Amelia

were among the guests.

Eli Faskha started an Internet

security company last year in

Panama. Soluciones Seguras has

a wide range of security solu-

tions, including Check Point

Firewall-1, and they are the only

Authorized Training Center for

Check Point and Nokia Internet

Security in Central America.

They also consult on Digital

Certificates and other security

solutions for large clients. You

can visit www.solucionesse-

guras.com for more information.

Adrienne Cox took a position at

AOL Broadband as executive

director, segmentation and prod-

uct strategy.

Dave Goldberg tells me he’s a

grown-up at long last—the

Goldbergs moved into a new

house, oldest child started

kindergarten, and he had to go

to a back-to-school night. (Does

anyone have the photos of him

in a toga? I’m sure the PTA

would love to see them.)

Ashley Lowe is working with

Legal Aid in Michigan.

Jane and Paul Murphy are living

in New York City and have two

daughters, ages 4 and 2. Paul is a

principal at Sentinel Capital

Partners, a private equity firm,

and Jane is at home with the girls.

Lisa Mitguy is still with Ernst &

Young’s National Tax group, and

still lives in D.C. She keeps in

touch with Mary Vargas and

Karin Lesica (‘95).

From Alona Ponomareva,

CFA, investment officer, Pension

Investment Department,The

World Bank Treasury:

Last summer, I changed jobs

within the World Bank (WB)

Group in Washington—

switched to the WB Treasury

from the IFC (International

Finance Corporation). At IFC, I

was making direct investments

in private companies in the

emerging markets (Eastern

Europe and Latin America). In

the WB Treasury, I am part of

the Pension Investment Depart-

ment. We invest the $9bn pen-

sion plan of the World Bank. I

am investing a portion of the

plan in private equity and real

estate funds in the U.S. and

Western Europe, mainly. In my

new job, I went to Tokyo in

February, where I saw classmate

Ryuta Sato! It was great to see

him after all these years and

catch up. He showed me around

Tokyo and helped me find the

best sushi place in town!

Then I was in London in July

and saw: Marc Gross and family

(wife Louise and 2.5 year old

daughter Aurelia) who are doing

very well in St. Albans, but will

vacation in Italy. Patrick Mageeand family (wife Regina) are also

doing well. Patrick moved from

J.P. Morgan to Cazenove (one of

the oldest, and still independent,

investment banks in England).

They bought a beautiful new flat

that they are busy decorating!

They also just celebrated their

2nd wedding anniversary.

I also heard from MargotJacobs, who decided to take

some time off from her high-

paced London job (a banking

analyst at Charlemagne Capital)

to go on a six-month sabbatical.

Last I heard (May 2002), she

was living in a small town/village

in the English countryside and

traveling around to see old

friends and new places.

On the personal front, we (my

husband Steve Smith and I )

finally finished building our new

house in McLean, Va. and

moved in August! This was

great, after almost two years of

dealing with architects, builders,

contractors, designers, etc. We

still have a lot of work to do in

the house, but at least we are liv-

ing in it now!

Angelica Beard reports that in

July 2002, she left corporate

America and started her own

qualitative research firm, Beard

& Associates. Angelica’s clients

Alumni Notes

27Winter 2003

Bella Wong was married on

September 28, 2002 to Deno

Konstantinidis in San Francisco.

She’s now working as a database

programmer/analyst for Safeway

supporting their online division

and predictive modeling needs.

She remarked, “Wouldn’t Bardia

be proud?”

Steve and Julie Genn welcomed

their daughter Sarah Elizabeth

on September 24, 2002. She

joins brother Zachary (3). Steve

is a senior project manager for

Unisys Global Public Sector

Consulting.

Fadi Aabidi has earned the

Chartered Financial Analyst

(CFA) designation administered

by the Association for Invest-

ment Management and

Research (AIMR). Earning this

charter requires a minimum

three-year effort to pass three,

six-hour examinations. Candi-

dates also must have at least

three years of experience related

to investments and adhere to the

AIMR Code of Ethics and

Standards of Professional Con-

duct. The CFA designation is

recognized around the world as

the premier designation in the

investment profession.

1996Ken Cruse and Durga Bobbacompleted the Marine Corps

Marathon on October 27, 2002.

They both ran in their Ultimate

Four jerseys.This was Ken’s sixth

marathon and Durga’s fourth.

Stephen Gaull, after finishing a

1.5-year appointment as an

executive fellow at the Export-

Import Bank, has embarked on

an around-the-world travel sab-

batical before he returns to the

private sector.

Michael Schmeltzer was pro-

moted to director, North Amer-

ica Supplier Relations, at Rosen-

bluth International, the

corporate managed travel com-

pany based in Philadelphia.

1997Class Agent: Andrea AlexanderAndrea_Alexander@gilead.com

Andrea Alexander has changed

companies and is working for

Gilead Sciences in Foster City,

Calif.

Kelley Tolsdorf Grossman and

husband Marc are the proud

parents of Rachel Elizabeth, born

August 14, 2002.The Grossmans

are now living in St. Louis.

Grant Pickering is living in

Seattle with wife, Kristi, and 2

1/2-year-old son, Benjamin.He

is working to cure cancer via

therapeutic vaccines with Den-

dreon Corporation, as VP Oper-

ations. He writes, “Please come

visit the cadre of ‘97 graduates

here in town: Rosemary Baisch,

Dan Yeh, and Caroline Gilbert.”

From Phil Cefaratti: I recently

purchased the Harry W. Gray

house in Arlington, Va. The

home is one of 27 properties his-

torically designated in the county

and was built by Mr. Gray, a

freed slave from the Lee-Custis

plantation, in 1881. Profession-

ally, I had the opportunity to

speak at the Comverse Technol-

ogies Worldwide End User’s

Group in Kos, Greece last June

on the “Convergence of Prepaid

and Postpaid Billing in Wireless.”

This past March also marked

the 7th annual draft for the

GUMBA fantasy baseball

league. Team owners (ScottHumphrey, Scott Williamson,

ALUMNI PROFILE

Grad Co-Founds Loan Fund for Women

Networking is not always a straight path. It was

the mother-in-law of a former employee that

connected Debbie Mercer (MBA ‘92), director of

Urban and Multibrand Marketing for Taco Bell,

with nine other entrepreneurial women to start

the Women’s International Loan Fund (WIL-

Fund) in Orange County, Calif. The not-for-

profit organization provides economic assis-

tance to women in impoverished countries for

individual and collective, sustainable, economic

development projects.

WILFund groups the micro-enterprise development funds generated from

its capital campaigns and disperses them to women in developing regions

throughout the world, including Latin America, Southeast Asia, and

Africa. According to Mercer, “WILFund is incorporating a combination of

private sector lending tactics to become the preeminent micro-enterprise

investment force of women helping women worldwide.” These strate-

gies, she says, include micro-enterprise lending, where financial contribu-

tions are leveraged exponentially to increase available load funds; com-

munity banking, where the poorest clients form small groups to

guarantee each other’s loans; individual lending, where loans as small as

$50 are dispersed; and full sustainability, where the programs’ operating

costs are fully covered through interest on existing loans.

WILFund is affiliated with World Vision, an organization that has helped

poor children and their families build sustainable futures for 50 years.

“The power of WILFund is its ability to help thousands of women and

their communities in perpetuity. The Fund will continue beyond our life-

time,” says Mercer, a WILFund founding board member. She points out

that lending only to women raises not only their standard of living, but

also that of their children, regardless of race, ethnicity or religious affilia-

tion. With new chapters emerging in 2003 in San Francisco, New York,

and Bermuda, the growing organization has set the goal of $100 million

for its loan fund.

Mercer received an undergraduate degree in communications and orga-

nizational psychology from the University of California at Santa Barbara,

and chose the McDonough School because of its international business

curriculum. “The global perspective still interests me today—profession-

ally, philanthropically and personally,” she says. Practicing Spanish in

extensive overseas travel has propelled her success in marketing to both

Hispanic and Multibranded sites for Taco Bell. A former Pizza Hut field

marketing director, Mercer is completing her eighth year with the parent

company, Yum! Brands, Inc. She credits McDonough for gaining a solid

foundation in all the basic business functions as well as maximizing

her global network of fellow marketers. Alumni can reach her at:

djm52@georgetown.edu

MB

A

28 The McDonough School of Business

Todd Corley, Meg Mulvihill,Rose Baisch, Andrea Gothelf,Max Smith, Tom Javitch, DanSmink, and I) met in Las Vegas

for a weekend of reuniting,

drafting baseball players, golfing,

and gambling.

Amy Barton and Antony now

have two sons, Mackenzie (3)

and Collin, born June ‘02. Amy

is currently working as a market-

ing program manager at Intel

Corporation.

Dan Smink and Tiffany wel-

comed Natalie Berry Smink into

the world on July 5. She joins

Jackson. The family is living

happily in Denver where Dan is

a product manager for a medical

device company.

Tara Scalia married Patrick

Quilty on November 3, 2001 at

The Church of St Ignatius Loy-

ola in NYC. Kelly Brighton was

a bridesmaid. Hoya MBAs also

in attendance were: Karri Lud-wick, Andrea Gothelf, MeganMuhlvihill, Mary Schneck Tips,

Brian Mannle, RosemaryBaisch, and Pedro Herrera(MBA ‘96).

Todd Luther Corley left the hec-

tic world of consulting (Towers

Perrin), and joined Starwood

Hotels & Resorts Worldwide,

Inc. as manager of diversity &

inclusion. He facilitates the

development of all multicultural

marketing initiatives and the

creation of a firm-wide, women-

and minority-owned business

supplier program, and oversees

execution of diversity training

and education programs for the

corporate office and branded

properties (The St. Regis, The

Luxury Collection, W Hotel,

Westin and Sheraton). His wife

Penny and 19-month-old

daughter Olivia are reportedly

happy about the move, the

reduced travel schedule, and the

hotel-room discount that comes

with the job.

Todd.Corley@Starwoodho-

tels.Com

1998Class Agent: Brian Knoxbknox@hess.com

Elyssa Kane and her husband,

Jeffrey Levine, gave birth to

their first child, Dahlia, on Jan-

uary 29, 2002. Elyssa reports

that Dahlia has her mother’s

brown eyes and her father’s long

eyelashes! The family lives in

Ardmore, Pa. and continues to

fix up a 1905 house (in between

feeding, diapering, rocking,

singing, playing sessions and,

whenever possible, sleeping).

Elyssa has left her job at a fund-

raising/strategic planning con-

sulting firm and is considering

her options for her next position.

Jordan Robinson and his wife

Jodi gave birth to a baby boy,

Logan, in November 2001.

In June 2002, Andy Finizio,

Alan Randolph, Patrick Rau,

Chris Stauder, Justin Stone(MBA/FS ‘99), John Venusti and

Brian Knox traveled north to the

great state of Alaska for a two-

week vacation (two brothers,

Otto Randolph and Joe Stauder,

also tagged along). The guys

spent several days camping in

Denali National Park and visit-

ing Fairbanks before heading

south to the capital city of Juneau.

There the group chartered a boat

and spent a week exploring/fish-

ing/whale-watching in Glacier

Bay National Park.

Andrea Stueve and JohnStokes were married on

September 28 in Andrea’s

hometown of Minneapolis,

Minn. The wedding party

included MBAclassmates CherylStevens, Joe Orlando, and

Courtney Dur.

Several other classmates also

attended the wedding: DeborahAdeyanju, Jane Dwyer,Heather Hunt, Antal Run-neboom, Rene Houle, JocelynByrne, Meredith Orlando (‘99),Karri Ludwick (‘97), and RustyHeffner (‘97).

Andrea and John report they are

very happy and are thankful to

have such great longtime friends

from Georgetown. Andrea is

director, marketing and inter-

national research, at the Travel

Industry Association of America

in Washington, D.C. John is a

product manager at Manugistics

in Rockville, Md., where they

reside.

Jeremy Kestler has started his

own business as a business and

career coach. Jeremy recently

worked as a business advisor for

the U.S. Small Business Admin-

istration in Atlanta. jeremy@

metrocoaching.com.

1999Class Agent: Mike Pastorepastmike@yahoo.com

Nancy (Lee) Bao and HuataoBao were married on September

3, 2000. Nancy is eHealth pro-

ject coordinator at Children’s

National Medical Center.

Lisa Kleinknecht is moving back

to NYC to run her family’s busi-

ness in N.Y. and N.J. after three

years in London. She’s looking

forward to returning to the

NYC area.

Andrea Marshall is engaged to

Jonathon Webb. She’s still in

London working at CGEY

consulting.

Ed (Shep) Rogers and his wife

Betsy are in Tokyo where Shep

is with Deutsche Bank.

After graduation, Andres Tru-jillo and his wife Karen moved

to Florida to work with Citi-

group in the Latin America &

Caribbean Operations & Tech-

nology Regional Office as an

O&T Regional Project Man-

ager. Citi moved them for six

months to Madrid, Spain for

training, and they returned with

a daughter Mariana, now two.

Andres says he focuses his MBA

skills in implementing technol-

ogy in the LATAM region based

on the bank’s strategic goals.

2000Stephanie (Paul) Lynch and her

husband, Kyle Lynch (MBA ‘92),report they were married on July

20, 2002 at St. James Episcopal

Church in Florence, Italy.

Stephanie is working in com-

mercial real estate finance for

Spaulding & Slye Colliers and

Kyle is an executive at Fannie

Mae, both located in Washing-

ton, D.C.

Jorge Harb started a new busi-

ness: (kiiol.com), a meeting

planner and travel agency spe-

cializing in Mexican Spas. He is

now living in Mexico City.

jhk@kiiol.com

Dan Trosch recently received the

Chartered Financial Analyst

designation and is a senior

research analyst for West Finan-

cial Services, an investment

advisory firm in McLean, Va.

Alumni Notes

IEM

BA

29Winter 2003

From Keith Sandbloom: I

joined Citigroup after gradua-

tion in 2000. After successfully

completing two years of training

and short-term assignments in

Uruguay, New York City and

Indonesia, I have been assigned

to Citibank Tanzania. I currently

manage our portfolio of non-

profit accounts (embassies,

United Nations organizations,

World Bank projects, develop-

ment agencies and NGOs) and

consumer accounts. My wife

Celia and I were blessed with a

second son while on assignment

in New York (Charles Joseph,

born in July 2001). His big

brother Walter has started

kindergarten at the International

School of Tanganyika.

Ken and Olga Starr welcomed

Adam (MBA ‘30) into their

world on June 14, 2002.

Laura Laybourn and husband

Rob report a second daughter:

Jeanie Marie, born on the 4th of

July, 2002.

Kristin Miljus married Mike

Kelly in her hometown of Pitts-

burgh on May 4, 2002. KK Halland Sapna Gujral Santos were

bridesmaids. Kim Kwiatkowskiand Jennifer Carmichael were

readers at the ceremony which

took place in Pittsburgh’s his-

toric St. Paul’s Cathedral. Seen

enjoying the martini and mar-

garita bars at the reception were

alums Torrey Martin, YvonneYang Spencer, Erin RosenwaldMullen, Paula Cricca, CarrieKurtz, and Gerry Canet. After a

honeymoon to Thailand and

Bali, Kristin and Mike are resid-

ing in the Gramercy Park area of

Manhattan.

Mona Shenassa-Toubian mar-

ried Michael Toubian in March

2001 in Los Angeles.They

moved to London, England in

April 2001, and are now the proud

parents of daughter Sophia born

in March 2002. Michael is with

J.P. Morgan Chase.

2001Marie (Coquebert de Neuville)Laumann gave birth to a son,

Alexis, on September 7, 2002 in

Munich.She married her husband

Heinz last summer in Greece.

Cyril Gay Belan also welcomed

a newborn son, Hadrien, in July.

Mother Muriel and Cyril live

in Paris.

Santiago Martignone reports

he and his wife are doing okay in

Buenos Aires, regardless of all

the news. He is still working for

Rabobank International and

their children, Pedro and Luchi,

are growing fast. They have

moved to a new apartment, and

have room for guests. spm@

georgetown.edu

2002Radhika Murari is running her

social networking company,

The Perfect Circles (www.

ThePerfectCircles.com) in the

D.C. Metro area. She is really

looking forward to the day

The Perfect Circles hits the

“break even” mark, and more

than that, when it turns a profit!

1996Class Agent: ThomasArnspergertarnsperge@aol.com

IEMBA Is have been on the

move during 2002. Elliot Cafritz,

Chip Christian, Vince O’Connor,Gene Waldenmaier, and others

have all been involved in career

transitions during the past 12

months. Your class agent will be

attempting to contact everyone

within the next few months and

update our class directory. So if

you have contact information on

any classmates, let me, ThomArnsperger, know at

tarnsperge@aol.com. Other

changes include:

Ben Cass is now a principal con-

sultant with Siebel Systems Life

Sciences Global Competency in

Philadelphia. He wanted to

make sure everyone has his

email address. You can reach

Ben at bcass@siebel.com or ben-

cass55@yahoo.com.

Jim Kasamis moved to New Jer-

sey last February and assumed a

new position at Mercedes-Benz

USA’s corporate headquarters in

Montvale. Jim is project man-

ager, sales operations, with new

responsibilities for coordinating

all communication to and from

the field organization; strategic

development (i.e., re-org imple-

mentation); and management of

several special projects/initiatives.

Marie Royce accepted a full-

time position for a year as part of

the adjunct faculty of California

State Polytechnic University in

Pomona. Marie is teaching in

the Collins School of Hospital-

ity Management (2nd ranked

program in the U.S.) and the

International Business and Mar-

keting department. In addition,

Marie has started a company,

EnGendering Profit, with two

business partners in Maryland.

She continues to reside in both

Virginia and California with her

husband Ed.

1997Class Agent: Lynn MillerMlleMiller@aol.com

Alumni Notes for this issue pre-

pared by substitute Class Agent

Susan McVay.

Greetings, IEMBA IIs! It’s hard

to believe that five years have

passed since our graduation.

Many of us enjoyed the five year

reunion held on campus in late

May. Special thanks to DanCampbell, Eric Sklar, and MikelWilliams who traveled the far-

thest, returning from California,

California, and London, respec-

tively.

Marcel Bahro was sorry to have

missed the reunion. He reports

from Switzerland that “no news

is good news sometimes,” and

asked that his email address be

shared: m.bahro@bluewin.ch.

Jean-Luc Bejot, M.D. was

appointed VP development at

OPi & Isotec in May 2002.

Based in Dardilly, France (near

Lyon), OPi is a European devel-

opment stage biopharmaceutical

company dedicated to develop-

ing and marketing pharmaceuti-

cals products for rare diseases.

The Bejot family moved to the

small city of Caluire, France,

near a multilingual school for

the children. Jean-Luc can be

contacted at jlbejot@wanadoo.fr.

IEMBA

30 The McDonough School of Business

Suzanne Kaiser is busy feature

writing while interviewing for a

position in international market-

ing. Look for spring 2003 arti-

cles about Robert Frost and the-

ater design in Vermont LifeMagazine and Stage DirectionsMagazine. You can reach

Suzanne at Skaiser26@aol.com.

JD Pellechia reports that he is

working as a financial advisor for

Merrill Lynch in the Tampa Bay

area. Having recently passed the

exam to become a Certified

Financial Planner, he is focused

on providing comprehensive

wealth management for high-

net worth individuals and com-

panies. JD says that he is truly

lucky to be blessed with ener-

getic, fun-loving, family-ori-

ented clients! He married Julie

in 1999, and they are the proud

parents of two-year-old Tye

Vincent. JD and Julie have spent

time refurbishing their bunga-

low-style house in Hyde Park.

JD can be reached at jpellec-

chia@pclient.ml.com.

Scott Phillips is still on leave

from Accenture in San Fran-

cisco. He expects to return this

spring. In the meantime, Scott

can be contacted at

scott_phillips_us@hotmail.com.

Susan McVay continues at Mar-

riott International headquarters

in Bethesda. Susan’s recent pro-

motion to director of lodging

quality assurance information

management includes responsi-

bilities for Marriott’s brand stan-

dards audit and guest satisfac-

tion survey programs for hotels

worldwide. The lodging indus-

try’s tough economic situation

has provided an opportunity to

redesign Marriott’s Guest Satis-

faction Survey system using new

technologies. Susan reports that

2002 has been one of the most

interesting and professionally

challenging years of her career.

Contact Susan at

susan.mcvay@marriott.com.

Bruce Spencer has recently

started a new position with the

BayView Financial Trading

Group in Miami, which is a

non-bank financial institution

and advisory firm. Bruce focuses

on the commercial real estate

mortgage origination and acqui-

sition side of the company. Part

of Bruce’s territory is the Mid-

Atlantic region, where he hopes

to catch up with Washington-

based IEMBAs. On a personal

note, Bruce was married to

Colleen Galmin on August 23,

2002. Bruce and Colleen

enjoyed a honeymoon in Italy.

Contact Bruce at

bruspen@aol.com.

Mikel Williams has been

brought into a company called

LambdaNet by one of the pri-

vate equity holders, KKR.

LambdaNet is a European

telecommunications player,

operating a large network infras-

tructure across over 100 cities

throughout Europe. As COO,

Mikel is focusing on increasing

LambdaNet’s shareholder value.

Since he moved his family back

to Bethesda this summer,

chances are we will be seeing

more of Mikel in the D.C. area,

although he is still traveling

extensively throughout Europe.

Mikel can be reached at mikel-

williams@yahoo.com

Sally Buzbee is living in Tunis,

Tunisia, where her husband, a

Foreign Service officer, is study-

ing at the State Department’s

advanced Arabic school. Sally is

Alumni Notes ALUMNI PROFILE

IEMBA Launches Successful Second Career

Thomas J. Arnsperger, class agent for

IEMBA ‘96, serves as a business and tech-

nology consultant for the MITRE Corpo-

ration, a not-for-profit company that

provides systems engineering and R&D

support to the government.

Before joining MITRE in 1997, Arnsperger

spent 20 years in the U.S. Air Force,

including several international assign-

ments. He holds two B.S. degrees from

Embry-Riddle Aeronautical University

and an M.A. in communication from the University of Oklahoma, and is

an Air Transport Pilot.

In 1994, he wanted a second career, and saw an advertisement announcing

Georgetown’s new IEMBA program. Research showed that G.U. had a

top-tier business program, ranked 25th in U.S. News & World Report

rankings, and was highly regarded by the Princeton Review. “G.U. has

been the most meaningful, professional experience I have ever had,” says

Arnsperger. “However, earning the degree has been my most challenging

accomplishment.”

In addition to course work for three to four hours every night and his full-

time day job, he and his wife Deborah were raising two young children,

Christopher and Katie. He recalls that with little sleep and a heavy work-

load, he and his 42 classmates were also actively involved in an evolving

syllabus, and trying to figure out how to work in teams with no available

mobile information technology. “We didn’t have email, had only one lap-

top per team, and were trying to connect through “group-wise” software

—with very little success,” Arnsperger states. “I learned as much about

starting an organization from being in that first class as I had in my first

20 years in the work force.”

He feels Georgetown provided more than the foundation for his second

career; it helped structure a new way of thinking. Today he applies his

IEMBA experience on each project; using strategic thinking in investment

decision-making and enterprise architecture to integrate business and

technology. Since graduating, he has co-authored numerous articles and

presented at several professional symposiums.

Arnsperger serves as a representative on the Hunter Mill District Land Use

Committee in Northern Virginia and as the IEMBA I class agent. “Keeping

ties with the University and my classmates remains an important part of

the Georgetown experience,” he says.

31Winter 2003

taking a one-year sabbatical

from her job at the Associated

Press to care for daughters Emma,

now 3, and Margaret, now

almost 2, but expects to be back

in Washington again starting the

summer of 2003 and returning

to work with AP. Sally can be

reached at sally@buzbee.com.

Leila Webster finished three

years in Hanoi in Fall 2000, and

returned to the U.S. to join a

new small business department

in the World Bank and IFC.

Her team is now working on

setting up a new program focus-

ing on the eastern islands of

Indonesia to be headquartered

in Bali. While debating whether

to relocate again, Leila is enjoy-

ing a new house in the woods of

North Carolina. Although she

flies back and forth to Washing-

ton each week, Leila reports that

the commute is well worth it.

Contact Leila at lwebster@ifc.org.

1998Class Agent: Debbie Weildw@wordbiz.com

From Ivo Maric: Our second

child Nicolas Andres Maric was

born on September 10, exactly

three years after his big sister

Camila. Clara and I are very

happy, but at the same time very

busy. After many years working

as a consultant, I became an

Inter-American Development

Bank employee. There is not

much change besides having a

blue i.d. instead of a purple

one—and a window office,

retirement benefits, vacations,

sick and paternity leave, and a

career path. Next week I will

have a chance to meet Michael

(Five Forces) Porter. He is com-

ing to the IADB to give a talk

about, what else, competitiveness.

Hope every one is doing well.

From Kimberly Higgins: Hello!

Brian and I just welcomed a sec-

ond son, Evan McCay Deobald,

on October 30. He weighed

8lbs., 3oz. and was 20 1/4 inches

long. His brother Benjamin is

delighted to have a playmate.We

are all doing well. I am just try-

ing to get used to the idea that

we have two boys 15 months

apart. Should be a fun five years

ahead! I am still enjoying IBM.

I am on maternity leave until the

end of January, and still in the

same position as a Senior Soft-

ware Sales Rep., selling middle-

ware to the Federal government.

This has been a busy year in this

space—still learning lots about

the industry.

From Paul Laporte: I am now

VP of Mktg for Biz Dev for

Evergreen Assurance also in

Annapolis. I started there April

1, joining three founders who

started the company in February.

We have since developed our

service, ramped the company to

25, and secured our funding led

by Venrock, along with four

other VC firms. The company

provides real-time disaster

recovery and continuous avail-

ability services for an enterprise’s

messaging and email environ-

ment. Essentially we assure that

there will never be a service

interruption in email or access to

data stored in email. We’ll

branch out to other mission-

critical applications over time. I

now can be reached at: Ever-

green Assurance paul.laporte@

evergreenassurance.com

410.571.8274. I guess I can’t get

startups out of my system, even

in these crazy times.

1999Class Agent: Alphonse Iudicelloa.iudicello@worldnet.att.net

2000Class Agent: Dan Gallaghergallagherd@erols.com

2001Class Agent: Bob Wagonerrwagoner@syntek.org

Piers Bocock and his wife Katie

are the proud parents of a son,

Miles William Wainwright

Bocock, born August 17 and

weighing 8 pounds, 13 ounces.

Lee Campbell and his wife Bar-

bara are the proud parents of a

daughter, Chase Alexandra, born

on New Years Eve 2001, weigh-

ing 7 lbs., 11 oz. Lee still seems

to be getting around a lot with

the Army Corps of Engineers.

He emailed recently from Biloxi,

Miss. to say he couldn’t make a

class get-together at the Tombs.

Bill Dannehl left the Harley

plant in York, Pa. in June to

assume the position of VP of

strategic planning and new busi-

ness development for Harley-

Davidson, Inc. Bill, his wife

Nicole, and their three daughters

relocated to Milwaukee in

August. He claims he reread

Contemporary Strategy Analysisto determine what he’s supposed

to do in his new job.

James De Rocher left Freddie

Mac in April and moved to the

Ocean Beach section of San

Diego. At last report, James is

doing well and enjoying the laid

back California life style. His

only concern is the rate at which

his nest egg is shrinking and the

time delay before he starts look-

ing for a new job.

Tom Henning left DuPont in

May and now holds a position as

product director for American

Standard, a leading global pro-

ducer of advanced products in

the air conditioning systems,

bathroom and kitchen fixtures

and fittings, and vehicle control

systems markets.

Russell Hughes recently started

with Fannie Mae as senior

consultant in their e-Business

division.

Juan Kiewek and his wife

Cristina have been busy over the

past few months. In February

they moved into a new house in

Rockville, Md. About the same

time Juan was promoted to pres-

ident and general manager of

Mexican and South American

operations for TB Wood’s, Inc.,

a producer of industrial power

transmission products. They

now split their time between

Rockville and Mexico City,

where they also have a house.

On August 14 in Mexico City,

Cristina gave birth to a son, Lucas

Kiewek Enrich, 6 lbs., 6 oz. For

pictures or more info contact Juan

at gkiewek@tbwoods.com.

Tatiana Koleva and her husband

Ali are the proud parents of a

daughter, Milena, born Septem-

ber 19 and weighing 8.7 lbs.

Tatiana reports her older daugh-

ter Aliana enjoys having a baby

sister. Now Ali has to start sav-

ing for the weddings. Tatiana

has also been promoted to senior

manager at Pitney Bowes Man-

agement Services. In her new

position she is responsible for

the legal market in the Mid-

Atlantic Area, spanning Balti-

more to Richmond.

32 The McDonough School of Business

Neil Markus has no new kids.

But he has started a new job

with CapitalSource, a commer-

cial finance company, as portfo-

lio manager in their Structured

Finance group.

David Messina assumed a new

18-month developmental

assignment in August 2001 as

director, strategy and analysis, at

Lockheed Martin Corporate

Headquarters in Bethesda, Md.

He reports to the EVP of corpo-

rate strategic development who

heads a small staff of senior

executives that report directly to

the CEO. The Corporate

Strategic Development Organi-

zation is responsible for corpo-

rate strategic planning; industry

alliances and relationships; and

strategic assessments of markets,

competitors, and M&A oppor-

tunities.

Linda Nemec joined Develop-

ment Alternatives Inc. (DAI),

based in Bethesda, Md., as a

principal development consul-

tant in the Finance, Banking

and Enterprise Development

Group. DAI is an international

consulting firm which works in

emerging markets, countries in

transition, and less developed

countries to help business, gov-

ernment and civil society solve

economic development prob-

lems. Linda will be involved in

new business development for

DAI, including project design

and proposal writing. Her con-

sulting assignments will focus on

business skills development, par-

ticularly sales, marketing, and

exporting. Her new email is

Linda_Nemec@dai.com. She

welcomes correspondence from

any IEMBA alums interested in

the world of overseas consulting.

Carlos Pachon completed a

four-month development pro-

gram in Madrid, Spain, and is

now back at EPA Headquarters

in Washington. While overseas

he investigated the possibility of

opening a microbrewery in

Madrid. All he has to do is sell

his wife Virginia on the idea.

David Sena left the Department

of Health and Human Services

last year when he accepted the

position of supervisory financial

specialist with the Export-

Import Bank of the United

States. David also reports his

engagement to Ms. Laura Barri-

entos of Dallas.

Cole Thomas left the Senate

staff in April and joined Con-

quest, Inc. as program manager.

Conquest is a technology firm

based in Maryland that provides

assistance to various federal

agencies, primarily in the intelli-

gence community.

Natalie Trost and her husband

Randy are the proud parents of a

son, Randall Troy, born July 27,

weighing 6 lbs., 4 oz.

Denise Willard parlayed a pas-

sion for interior design and dec-

orating into her own business

called “Décor by Denise.” When

she launched the enterprise in

July, Denise had three projects

underway, including a four-level

town home in McLean, Va.

Working with another interior

stylist as a partner, Denise also

helps clients find, evaluate and

contract with tradesmen in vari-

ous decorating areas. On top of

all this, Denise was also working

toward her real estate license.

She can thus provide not only

new furniture, but also a place to IEM

BA

Alumni Notes

put it. Contact her at denisewil-

lard@msn.com if you’re getting

tired of your current digs.

Email updates:Linda Nemec:

linda_nemec@dai.com

Doug Reber: dreber@cox.net

David Sena:

David.Sena@exim.gov,

dmsena@hotmail.com

2002Class Agent: John FitzGeraldjohn@fitzprop.com

Andy Blocker has been named

VP of government affairs for the

New York Stock Exchange.

Randy Fiser has accepted the

position of director of strategic

management and planning for

the Fannie Mae Foundation.

Patrick Janin has been named

the CEO of Future Medical

Systems, SA.

Ed Lucio accepted the position

as financial services analyst for

the division of Reserve Bank

Operations and Payment Sys-

tems for Federal Reserve.

Don Nishimoto has relocated to

London as manager of transac-

tion services for the global mar-

kets of the European, Middle

East, and Africa Group.

Shaara Roman has been named

human resources account man-

ager for Fannie Mae Foundation.

Rich Weiss accepted the posi-

tion of president of Applied

Security. In addition, Rich and

Christiana Weiss became the

proud parents of Leah Audrey

Weiss. She was born on Octo-

ber 17 at 6 lbs., 13 oz., and 20.5

inches long.

Robert P. Johnson, Director of MBA

Alumni Programs, prepared the list of

alumni services (see opposite page).

He encourages alumni to visit the

MBA and IEMBA alumni website at

mba.georgetown.edu/alumni.

For further information, please contact

Johnson at johnsonr@msb.edu

Online Community

hoyasonline

Visit hoyasonline and update your contact

information online, access email forwarding,

search the alumni career network and more!

www.georgetown.edu/alumni

MBA & IEMBA Alumni Career Services

Career Advice from hoyasonline Career

Network members

Search all 2,600 MBA, 400 IEMBA and

11,000 other University alumni and talk with

alumni who have agreed to offer career

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)

Join Career Tools and access premium

research databases, an exclusive web search

engine covering over 100,000 company

job sites and useful tips on conducting an

effective job search. Enjoy a special relation-

ship between Georgetown alumni and

Lee Hecht Harrison located in 50 states

and 20 countries. To join go to hoyasonline

and select Alumni Career Services.

www.georgetown.edu/alumni

Global Workplace

Global Workplace is an international career

management and development platform for

alumni of the world’s top 50 business

schools. Join and search a database of inter-

national, non-U.S. jobs, access salary surveys

and discover tips on finding a job in the

world’s key employment markets.

www.msb.edu/mba/alumni

Online Job Postings

The MBA/IEMBA Alumni Job Board is a

board exclusively by and for McDonough

MBA & IEMBA Alumni. For more informa-

tion, visit the MBA & IEMBA Alumni site.

www.msb.edu/mba/alumni

Other online job postings are also available

through Monstertrak, Monster.com’s execu-

tive site, 6FigureJobs.com, ExecuNet and

Degree Hunter. www.msb.edu/mba/alumni

Individual Career Counseling

MBA & IEMBA Only

Schedule up to two one-hour sessions with

a career counselor and discuss issues such

as career transitions, job search strategies

and resume development.

www.msb.edu/mba/alumni

Wall Street Alliance

The Wall Street Alliance helps to create

and participate in networking opportunities

for financial professionals and graduating

students. Contact: 212.704.0884

Alumni Clubs Career Programs

The Georgetown University alumni clubs

offer career-related programs such as

workshops and panel discussions of alumni

who have made career transitions.

www.georgetown.edu/alumni

MBA & IEMBA Class Programs

MBA & IEMBA Alumni Class Programs are

being developed to promote communications

among classmates. Class officers prepare

electronic newsletters and help in organizing

reunions and the school’s fund-raising

efforts. Volunteers are being sought for all

classes. To volunteer, contact Robert Johnson

by phone at 202.687.6738 or by email at

johnsonr@msb.edu

MBA & IEMBA Class Reunions

McDonough MBA & IEMBA Alumni

reunions have been established to celebrate

the 5-year anniversary of classes each June in

conjunction with the Main Campus Reunion

Weekend. Reunion 2003 runs from May 30

through June 1, 2003.

MBA & IEMBA Alumni Groups

McDonough MBA & IEMBA Alumni

Groups have been established across the

U.S. and overseas in Japan, Mexico and

London and focus on networking functions

including relationships with MBA alumni

from other top business schools.

www.msb.edu/mba/alumni

University Alumni Clubs

Forty-seven Georgetown University Alumni

Clubs exist within the U.S. and internation-

ally. The clubs serve as an excellent way to

meet other University alumni and offer a

variety of activities of particular interest to

MBA/IEMBA Alumni.

www.georgetown.edu/alumni

University Alumni Special Services

The University Alumni Association’s special

services include an Alumni Credit Card

through MBNA, Alumni Travel Opportunities

offering group travel opportunities worldwide

and low cost Life and Medical Insurance.

www.georgetown.edu/alumni

For further information, visit the

MBA & IEMBA Alumni website at

mba.georgetown.edu/alumni

Questions?

Contact Robert P. Johnson,

Director of MBA/IEMBA Alumni Programs

at johnsonr@msb.edu

McDonough School of Business Alumni Services

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