HSB Review Spring 2009

Saint Joseph’s University Erivan K. Haub School of Business

Lessons fromWall Street,page 4

HSB ReviewEditorCarolyn Steigleman

Managing EditorHarriet Goodheart

DesignCarol McLaughlin ’80

PhotographyMelissa Kelly

ContributorsCarolyn SteiglemanMaureen Catalano

The current economic climate has impactedfamilies and businesses around the globe, and businesseducation is no exception. At the Haub School ofBusiness, professors have responded to the financialcrisis by working with students to dissect the events ofthe past year and to help them better under-stand finance theory and its practical application.Undergraduate finance students offer their reactions tothis approach in our cover story.

This issue of HSB Review also offers the personaltestimony of a University College student who is usingbusiness management and food marketing applicationsto advance her family business into the next generation.Through curriculum improvements, academic program-ming and faculty mentoring, the Haub School primesstudent entrepreneurs with the management skillsneeded to execute their business plans. You will learnmore about these initiatives, as well as others, includingthe success of the Energy School and the Academy ofRisk Management and Insurance; faculty research; andthis year’s Erivan K. Haub School of Business Hall ofFame recipient.

The Haub School sees these uncertain times as anopportunity to prepare our students for their immediatefutures. With a stronger focus on accountability comingfrom the top levels of government, we at Haub remaincommitted to graduating tomorrow’s business leaderswho possess a sense of ethics and responsibility, leadershipand sound judgment.

Letterfrom theDean

DeanJoseph A. DiAngelo Jr., Ed.D. ’70

Associate Dean, Academic AffairsStephen Porth, Ph.D. ’80

Associate DeanPatrick O’Brien

Assistant DeanVana Zervanos

Accounting, ChairJoseph Ragan ’69

Decision and Systems Sciences, ChairRichard Herschel, Ph.D.

Finance, ChairKaren Hogan, Ph.D.

Food Marketing, ChairJohn Stanton, Ph.D.

Management, ChairElizabeth Doherty, Ph.D.

Marketing, ChairDiane Phillips, Ph.D.

Pharmaceutical Marketing, ChairThani Jambulingam, Ph.D.

Pedro Arrupe Center for Business Ethics,Director, John McCall, Ph.D.

Advising Center, Director, Bruce Bidinger, S.J.

Professional Practice, DirectorTodd Krug, Ph.D.

Graduate Programs, DirectorAdele Foley ’61 (M.B.A. ’82)

Executive M.B.A., DirectorTerese Waldron

Food Marketing M.S., Director Christine Hartman

Pharmaceutical Marketing M.B.A., Director, Terese Waldron

International Marketing, DirectorChristine Kaczmar-Russo ’83

Business Intelligence M.S.,Human Resource Management M.S.,Director, Patricia Rafferty

Academy of Risk Management andInsurance, Executive DirectorDavid Benglian (M.B.A. ’92)

Erivan K. HaubSchool of BusinessBoard of Visitors 2008-2009*

ChairmanJoseph J. McLaughlin, Jr. ’81President, The Haverford Trust Company

Robert Bowman ’81Regional Managing DirectorMerrill Lynch

Patrick BurkePrincipal, Vanguard Group

Anthony Carfagno ’60 President Pharmaceutical Quality Institute

Kathie CarrFirst Vice PresidentCB Richard Ellis, Inc.

Vincent J. Costantini ’68 Managing Partner, The Roseview Group

Bruce Crawley ’67Milennium 3 Management

Richard Devine ’82 Partner and CFOSmart and Associates LLP

Marlene S. Dooner ’83 Vice President, Comcast Corporation

Robert Falese ’69 Chair, TD Bank

Sharon Gallagher ’85 Director, IBM Global Services

John Griffin ’78President, Zeke Capital Advisors, LLC

Timothy J. Maguire ’88Senior Executive Vice PresidentKarr Barth Associates

Joseph Mahoney ’76 Executive Vice President Greater Philadelphia Chamber of Commerce

Hank MullaneyPresident Northeast RegionWal-Mart

Dr. Joan ParkerLabor and Employment Arbitrator andMediator

Albert G. Pastino ’64 Managing DirectorAmper Investment Banking, LLC

Joanna SavvidesPresident, World Trade Centerof Greater Philadelphia

John Smithson ’68Senior Vice PresidentTowers Perrin Reinsurance

Sean Sweeney (M.B.A. ’94 )Executive Vice PresidentPhiladelphia Insurance Companies

David Tierno ’63Managing Director – RetiredErnst & Young Worldwide

David L. Toner Jr. ’83Senior Vice President, Citigroup GlobalCorporate & Investment Bank

Gerriane Tringali DiPianoPresident and CEOFemme Pharma

Richard Welsh ’62Senior Vice PresidentWachovia Securities, LLC

*The Haub School Dean, Associate Deans,Faculty Chairs, and Directors listed aboveare also members of the Haub School ofBusiness Board of Visitors ex officio.

Directors and Board of Visitors 2008-2009

2 | HSB REVIEW

Spring 2009 | 3

Erivan K. HaubSchool of BusinessHall of Fame Award

honoring

Thomas Nerney ’96

��������

Thursday, April 23, 2009

6:00 p.m.

Reception

7:00 p.m.

Dinner and Award

Presentation

Hyatt RegencyPhiladelphia

at Penn’s Landing201 South Christopher Columbus Boulevard

Philadelphia, Pennsylvania

For additional informationcontact Mary Finelli at 610.660.1645

or mfinelli@sju.edu

Nerney Honored with HSB Hallof Fame Award

The Erivan K. Haub School ofBusiness will recognize Thomas Nerney ’96(M.B.A.), chairman, president and chiefexecutive officer of United States LiabilityInsurance Group, with the 19th AnnualHall of Fame Award during a dinnerand award presentation on April 23. Asthe recipient of this award, Nerney willbe acknowledged for his outstandingcommunity work, strong corporate leader-ship and management qualities.

“This prestigious award recognizesbusiness leaders who exemplify the charac-teristics of excellence the school of business

seeks to foster in its students,” said Joseph DiAngelo, Ed.D. ’70, deanof the Erivan K. Haub School of Business. “Tom joins a growing list ofimpressive successors who have expertly shaped the business world.”

At the helm of United States Liability Insurance Group, Nerneybrings nearly three decades of leadership experience to his role.Located in Wayne, Pa., the company — specializing in underwritinglow-premium, low-hazard insurance products — is a wholly ownedsubsidiary of Berskshire Hathaway owned by Warren Buffett.

Nerney’s insurance career began directly after college when heworked as a managing general agent for Maguire Insurance Agencyand sold specialty insurance products throughout the United States.In 1985, the agency evolved from a managing general agent toPhiladelphia Insurance Company. When the company went public in1993, Nerney assumed the responsibility of president and chiefoperating officer until taking over at United States Liability InsuranceGroup in 1996.

While making his mark in the insurance industry, Nerney simulta-neously left his mark on his local community. He is a founding memberof three not-for-profit organizations: Good Sports of Wayne, whichsupports local charities through an annual fundraising event; A FrontRow Seat to Learning, which gives students from low-income familiesan opportunity to pursue private education in Philadelphia; and TheNerney Foundation, which supports LaSalle Academy in Philadelphia.

The Hall of Fame Award dinner will take place at the HyattRegency Philadelphia at Penn's Landing on Thursday, April 23, 2009,at 6 p.m. For additional information, contact Mary Finelli at610-660-1645 or mfinelli@sju.edu.

Nerney ’96

Each year the Erivan K. Haub School of Business

at Saint Joseph’s University recognizes outstanding

corporate citizens chosen for their leadership and

management qualities. Award recipients are business leaders

exemplifying the qualities and characteristics of leadership

and management excellence the School of Business

seeks to develop in its students. We are proud to announce

the 19th Annual Hall of Fame Award recipient.

�������

“It’s a nice time to be a finance student,” saidTaylor Mahanna ’09. The comment may raise someeyebrows given the current economic climate, butMahanna’s enthusiasm for her major is a testamentto the way professors in the Haub School ofBusiness are teaching their students about finance.

In a peaceful economy, when the Dow doesn’trise or fall with the recklessness of the latest celebri-ty’s popularity, students aren’t always capable ofseeing the theoretical lessons of their textbooktranslated into real and familiar settings.

Mahanna, a student in Christopher Coyne,Ph.D.’s ’67 retirement planning course, said thefinance classes at HSB have taken an interesting turn.“This is hands-on learning,” she said. “Not only arewe studying finance theory, we’re able to observe themistakes these companies have made to contribute tothe global financial crisis.”

During his class, Coyne, an associate professorof finance, pointed to patterns of behavior someexecutives exhibited prior to Wall Street’s collapse.“Using the financial crisis, I’m able to bridge thetheory in their textbooks into a discussion aboutwhat works in finance and what doesn’t,” he said.

For the students involved in HSB’s student-managed investment (SMI) fund, the financial crisishas been a roller coaster ride. These students maketough financial decisions using real money; the fund

started with $61,000 in 2004 and had grown to$128,000 in 2007.

“The only stock we own that has held up wellis Walmart, in the consumer staples sector,”explained portfolio manager Tanya Lal ’09.“Unfortunately, we haven’t been as lucky with theother picks in that sector.”

Just last year, SMI earned honors at theUniversity of Dayton Redefining InvestmentEducation Conference and Portfolio Competition byoutperforming the S&P 500. As of November 2008,however, the SMI fund was down 30 percent. AhmetTezel, Ph.D., associate professor of finance, advisesthe students and said the group sold 44 percent of itsstock and went to cash in October 2008. “The groupwas reluctant to sell because fundamentally, thesewere good stocks,” explained Tezel. “But the marketdoesn’t care — everything is selling.”

The magnitude of the crisis was not somethingthat the students, much like professional investors,had expected. “Initially, we planned to ride it out withthe existing portfolio — hoping we would not losetoo much money,” said Lal. “But we have had tomake some decisions and sell some stocks earlierthan planned as a result of these conditions.”

When Lehman Brothers declared bankruptcy, adomino effect ensued that caught investors offguard, and also rattled Amy Lipton, Ph.D.’s syllabus.

Lessons from Wall Street:HSB reacts to the global financial crisis

4 | HSB REVIEW

Spring 2009 | 5

Instead of teaching business undergraduates about the generalcalculations of risk and return, Lipton seized the opportunityto teach students about what she knows best — the mechan-ics of Wall Street.

Lipton, an assistant professor of finance who spent yearsmanaging multi-million dollar accounts on Wall Street, said“This was one of those rare, teachable moments.”

Ironically, Lipton was a college senior in the fall of 1987,during another big stock market plunge, and is able to empathizewith finance students about the job market they’re facing.

“I’m looking into graduate school instead of entering theworkforce,” said Suzy Herlihy ’09, a finance major who isreconsidering her plans after graduation. “School is a lot moreappealing now than it was six months ago.”

Despite the economy, Matthew Brink, director of theCareer Development Center at SJU, said the entry-levelmarket for graduates isn’t as dire as many think. “Wall Streetfirms are definitely affected by the downturn, and studentsinterested in that location will likely see the impact of thatwith regard to decreased availability of internships and full-time jobs,” he explained. “But outside of Wall Street, the entry-level job market still seems to be relatively strong.”

Even so, Joseph DiAngelo, Ed.D. ’70, dean of HSB,admitted there’s a lot of hesitation in the employmentcommunity. “The investment banks in New York have gottenhit hard. So the schools who send a number of their studentsto New York have been hurt badly,” he said. “The good newsfor SJU grads is a high percentage of them tend to find workin industries that are still hiring.” He adds that students canimprove their job prospects by diversifying their skills.

Many of the working graduate students enrolled in theexecutive M.B.A. program are heeding DiAngelo’s advice.“These students are pursuing their degree because they knowthey need to go above and beyond now,” saidDan Jubinski, Ph.D., an assistant professor of finance whoteaches economics to E.M.B.A. students. “The EMBA increas-es their marketability.”

The teaching of business ethics, the hallmark of an HSBeducation, also gives SJU graduates a competitive edge overtheir peers, according to John J. McCall, Ph.D., professor anddirector of HSB’s Pedro Arrupe Center for Business Ethics.He says there were ethical lessons to be learned at “everystage” of the financial crisis, from borrowers to brokers,lending banks to investment banks.

“There was a culpable refusal to acknowledge risk andhistorical experience,” states McCall. “We want students to seethat when pure self-interest is not limited by regulatory institu-tions or by moral values, it almost inevitably leads to seriousdamage to the public welfare.”

Carolin Shellhorn, Ph.D., believes this kind of exclusivepursuit of financial wealth contributed to Wall Street’s woes.

“Currently, several countries, including the U.S., aretrying to set caps on executive compensation,” she explained.“In my view, that is an important step toward breaking thisvicious cycle of managers being compared to their peers, andeveryone doing what everyone else does. Eventually, theproblem got so big that the government had to step in andbail everyone out.

The quintessential investor Warren Buffett, chiefexecutive of Berkshire Hathaway, offers this advice tohis followers: “A simple rule dictates my buying: Be fearfulwhen others are greedy, and be greedy when othersare fearful.”

Karen Hogan, Ph.D., chair and professor of finance, saidby studying the financial theory and practice they learn inHSB’s finance program, students will follow Buffet’s adviceand understand the fundamental differences between whatmakes a strong long-term buy in the market.

Hogan believes HSB graduates will be ethical leaders intheir chosen fields.

“We, in HSB, are training the kind of managers who areinterested in running a business or managing a portfolio usingethical behavior and common sense,” she said.

LiptonCoyne Jubinski Shellhorn

SJU Professors / Lessons from Wall St.

Tanya Lal ’09 portfolio manager for SMI.

6 | HSB REVIEW

Virginia Miori, Ph.D., assistant professor of decision andsystem sciences, is thinking a lot about milk these days. She hasboosted milk production and cut costs at two micro dairies withplans for installing her model at eight more dairies across thecountry. Her secret — a production scheduling model shedeveloped to change the way farmers process the milk we drink.

Over the course of one month, Miori has increased eachmicro dairy's output by seven percent, amounting to 3,300additional gallons of milk and almost 240,000 additionalgallons annually. These are significant numbers, given thepressures on the industry.

“Dairy farmers across the country are burdened with thecost of producing milk and keeping up with consumerdemand,” explained Miori. Improvements in equipmenttechnologies and the re-design of the one-gallon milk jugsold to wholesalers have alleviated some of these pressures, butshe says significant improvements are still needed.

When Miori examined the production lines at each of themicro dairies, she realized how a scheduling model that sheoriginally developed for the trucking industry could improvetheir operating efficiencies.

When micro dairies process milk, they take into consider-ation consumers' preferences — ranging from type of milkto packaging. The production line typically runs according toproduct type. “Milk is initially produced in two variations:

skim and whole,” said Miori. “All varieties of milk can beproduced through adjusting the ratios of whole and skimreleased by filling machines.”

By looking closely at this process, Miori was able toidentify lags in the production line. “When the milk is runaccording to type, several transitions take place,” sheexplained. “Transitions in the dairy operation take the form ofcleaning cycles and packaging in single, two-packs or four-packs of gallons.”

Miori’s scheduling model shifted the traditional practice ofrunning the production based on milk type to a process wherethe milk is produced according to transition. Once her schedulewas implemented, dairy farmers saw an 82 percent reductionin unproductive time and more than a 71 percent reduction inthe number of transitions.

Brian Polaski of RoviSys, an automation company thatsells and works directly with micro dairies to implementMiori's schedule, said the best thing about the model is theflexibility it offers farmers. “We work with these micro dairiesto optimize their operations. Miori’s model accomplishes thisobjective, while giving the micro dairies an opportunity totailor the schedule to their specific needs.”

As these micro dairies expand their operations, Polaskibelieves Miori’s scheduling model will have an even greaterimpact.

Pregnant women often receiveconflicting messages about what foods toavoid during their pregnancies. One ofthe most confusing health messages forwomen is the recommended guidelinesfor eating fish.

In a recent study, Nancy Childs,Ph.D., professor of food marketing, andresearch colleagues, warned this decreasedconsumption of fish among childbearing,pregnant and lactating women, and youngchildren is likely to have detrimentalconsequences to public health.

“It is conservatively estimated that73 percent, or two million women, maynot be consuming enough low-mercuryfish during their pregnancy,” notedChilds. “By decreasing the amount of fishthey eat, rather than just minimizing their

consumption of the large fish, pregnantwomen are missing the advantages of thislow fat, high protein component of ahealthy diet.”

In 2004, the EnvironmentalProtection Agency and the Food andDrug Administration issued a jointadvisory to pregnant and nursing womenwarning that excessive consumption ofhigh mercury fish can have dangerousneurological consequences to infants andyoung children. Methylmercury, the toxicmetal found in all fish, is present at thehighest levels among swordfish, shark,bluefin mackerel, tilefish and tuna.

“It’s really about which fish, howmuch is eaten, and who is consuming thefish that’s important. The ideal messagewill encourage the replacement of high

mercury fish with low mercury fish,” saidChilds. “And until a multi-agency sophis-ticated consumer communication isdeveloped, health professionals need tobe diligent in educating their patients onfish consumption.”

Childs and her co-authors published“Review of Food Policy and ConsumerIssues of Mercury in Fish” in the mostrecent issue of the Journal of theAmerican College of Nutrition.

Conflicting Messages on What to EatWhen You’re Expecting

Boosting Milk Production One Micro Dairy at a Time

Childs

Spring 2009 | 7

Finance ProfessorRecognized withDistinguishedAppointment

The Social Science Research Network (SSRN)recently appointed Jean Heck, Ph.D., associate profes-sor of finance, to the advisory board of its History ofFinance eJournal.

“The purpose of the journal is for financial expertsand researchers to keep up-to-date on what theircolleagues are doing,” Heck said.

The eJournal is home to hundreds of thousands ofworking papers and abstracts related to finance.Academics can access the site and read posted papersas well as upload their own research.

Out of over 100,000 authors published in SSRN’seLibrary, Heck is the 786th most downloaded authorin finance, a figure that puts him in the top onepercent. His work, Establishing a Pecking Order forFinance Academics: Ranking of U.S. Finance DoctoralPrograms, is the 208th most downloaded out of nearly200,000 full text papers.

Heck joins colleagues on the board from suchprestigious institutions as Harvard University, YaleUniversity, New York University, Dartmouth College,Duke University, Columbia University and theUniversity of Notre Dame, to name a few. HarryMarkowitz, a 1990 Nobel Laureate in EconomicSciences is also a fellow board member.

A longtime member of the SSRN, Heck believesthat he was chosen to join the advisory board becauseof his extensive expertise in the history of finance.

His Web site, econlibrary.com, contains over half amillion citations for business and economic referencesfrom over 500 academic journals published since 1950.“I’m a reference point,” Heck said. “I enjoy being ableto provide others with information about researchactivity in the field of finance.”

Decision and System SciencesHonored with Chapter Award

Saint Joseph’s University’s chapter of Alpha Iota Delta – AlphaMu, the International Honors Society for Information Systems andDecision Sciences (DSS), was awarded Chapter of the Year duringa Nov. 23 ceremony in Baltimore, MD. Ruben Mendoza, Ph.D.,assistant professor of decision and system sciences, was honored atthe event with the Faculty Sponsor of the Year award.

SJU’s Alpha Iota Delta – Alpha Mu chapter was founded in2006 for students pursuing a business degree in DSS and/orbusiness intelligence. Since its formation, 52 undergraduate,graduate and faculty members have been inducted into thesociety. SJU’s chapter operates with financial support from theSmart Group, LLC, an international business advisory, consult-ing and accounting organization.

Dan McDevitt ’07 (B.S.) ’08 (M.B.A.) was one of the firstSJU students inducted into Alpha Mu, and served as vicepresident of the chapter for two years. “Alpha Mu recognizesstudents for their hard work in this field,” said McDevitt. “It’s agreat honor to be recognized by the organization for ouracademic achievements.” Eligibility for undergraduate DSSmajors is a cumulative G.P.A. of 3.50 or more for juniors, and aG.P.A. of 3.25 or more for seniors and graduate students.

McDevitt adds that because the honor society is interna-tionally recognized, it’s a “great resume builder.”

Mendoza, who was honored for his leadership, is proud ofhis group of students. “We are a young organization, so it's niceto receive validation that what we are doing reflects the spiritand direction the national organization wants to take.”

“Personally,” he reflected, “it is deeply gratifying to berecognized for the work I do with our students with the FacultySponsor of the Year award. I am very proud of the student officersof the Alpha Mu chapter for helping me with all activities, and forthe energy and enthusiasm they bring to our collaboration.”

Mendoza

Heck

The aroma of baking pepperonibread and freshly made tomato pie areunmistakable as you enter the door toMarchiano’s Bakery.

On some days, the entire Marchianofamily is scuttling busily behind thecounter, answering phones, preparingorders and helping customers. Most ofthe time, however, it’s just Daneen, whowas only 21 years old when she took overher father’s bakery in Manayunk.

“I thought I was helping him for afew months,” said Daneen, who was incollege in Florida at the time. “The planwas to help him for the summer, but Iended up staying.”

Although Daneen’s plan wasn’talways to run the family business, herfather’s heart attack in 2003 compelledher to take the reins of the business hebuilt out of his mother’s basement in hersmall row home in Manayunk.

Now 26 and a University Collegestudent at Saint Joseph’s, Daneen bothruns Marchiano’s Bakery full-time andtakes a full course load as a foodmarketing major. “I’m burning thecandle at both ends, but I’m a goodstudent,” she confirmed.

For two years she ran the businesswith little or no help from anyone, asher parents permanently relocated toFlorida but commute back and forthto Philadelphia regularly.

“It’s been an uphill battle,” Daneenadmitted. “I was thrown into the mixhead first.”

When Daneen realized she would berunning the business long-term, shedecided to head back to school and finishher degree. Her father suggested sheattend Saint Joseph’s for food marketingso she could eventually further thebakery’s interests. “My dad told me thathe knew the business had a lot ofpotential,” recalled Daneen. “He said it

was about time he started to hand thebusiness over to me little by little.”

He was right. Though she hadminimal prior experience in businessmanagement, Daneen’s hard work hasexpanded Marchiano’s Bakery to thepoint where it is literally outgrowing itswalls. In fact, the bakery was so bom-barded this past holiday season that theyhad to stop taking orders on Dec. 15.

The entire operation is based out ofa three-story row home on UmbriaStreet. Baking takes place on all threelevels, but with the business’s rapidgrowth, there is not enough room toaccommodate all of its orders.

To solve this problem, Daneen andher father plan to look for an off-sitemanufacturing facility to bake theinventory while still maintaining thestorefront shop in Manayunk.

“Ideally, I would like to have all ofthe baking done in an off-site facility, so

that we can produce our products inmuch greater quantities,” she said.

Daneen won’t take all of the creditfor the success of the business. "My fathergrew his bakery by creating personalrelationships with his clients," Daneensaid. “He orients himself around customerservice. This is what keeps people comingback year after year.”

While Daneen thinks the service iswhat makes Marchiano’s so popular, thecritics agree that the food is top-notch, aswell. Its tomato pie won PhiladelphiaMagazine’s Best of Philly™ 2006 andMain Line Today Magazine’s “Best ofMain Line Critics Choice 2007” awards.

Yet despite Marchiano’s accoladesand rapid growth, several aspects of itsoperations are dated and need anupgrade. Currently, the bakery onlyaccepts cash and all of the bookwork andordering is done by hand. Revenue isbased mostly on repeat business, and they

Bringing the family business into the 21st century

Daneen and Frank Marchiano

8 | HSB REVIEW

“I have learned so muchthrough my economics classabout supply and demand,and I think our business hasthe potential to be operatingabove the curve.”

(continued on page 10)

Spring 2009 | 9

Hess Corporation Supports Business Education at SJU

Hess Corporation recently donated $25,000 to Saint Joseph’sUniversity to support student scholarships and the Erivan K.Haub School of Business’ annual business policy competition.

Hess Corporation, a global integrated energy company,works closely with the Career Development Center (CDC) atSaint Joseph’s to recruit students for internships and jobs.“About three years into the relationship, we became one oftheir preferred target schools for their retail business,” saidMatthew Brink, director of the CDC.

According to Brink, Hess has had very good success inhiring Saint Joseph’s graduates for their management

training program. “It’s rewarding to know that our graduatesare so impressive that organizations are moved to supportSaint Joseph’s in this very generous way,” he said.

As part of the donation, $5,000 scholarships will beawarded to three undergraduate business school students. TheHaub School’s annual business policy competition, offered atthe end of each fall and spring semester, will benefit from$10,000.

Business policy is a course where students divide intoteams of four or five and delve into various businesses andorganizations to develop strategic plans for them. The teamsthen present the plans to their classmates and instructors at thesemester’s end. The best plan from each of the course’s sixsections advances to the business policy competition wherean executive panel judges them on the content of the plans andthe quality of the presentations.

According to Marcel White ’07, division director ofhuman resources for Hess’ retail marketing business and aSaint Joseph’s E.M.B.A. alumnus, the business policy competi-tion is another example of Saint Joseph’s commitment topreparing students for success in the business world.

“Saint Joseph’s students benefit from the effectiveness ofthe management training program, which in turn benefitscompanies like Hess as we look to build a strong team,” Whitesays. “We’re pleased to support Saint Joseph’s business policycompetition and to offer scholarships to deserving students.”

’The Energy School’

Representatives from Hess present HSB with donation.

Catastrophic events like the tropical storms andhurricanes that have pounded the U.S. Atlantic and Gulfcoasts since 2004 have threatened our country’s energyresources. "Unanticipated disasters like these, whether fromnatural occurrences or man-made tragedies like the ExxonValdez oil spill or the Three Mile Island accident, create aninsurance nightmare for risk managers," said Sam Cupp,executive-in-residence in risk management and insurance atSaint Joseph’s.

From Oct. 19 – 24, “The EnergySchool,” a new program at SJU,offered a forum to aid risk managers inadapting to the challenges of protect-ing our nation’s energy companiesfrom shattering losses like the onesCupp described. The event wassponsored by The OIL Group ofCompanies, Energy Insurance Mutual Ltd., Nuclear ElectricInsurance Ltd., and Saint Joseph’s University’s Erivan K.Haub School of Business.

Attendees of "The Energy School" were risk managersfrom all facets of the energy industry who spent their timeinteracting with colleagues and hearing remarks from govern-ment officials and energy and insurance executives. Amongthose speaking at the event included outgoing Department ofEnvironmental Protection Secretary Kathleen McGinty ’85, andMarsh & McLennan Chief Executive, Brian Duperreault ’69.

Part of the program also included table top exercises whichoffered attendees an opportunity to simulate a security threat tothe U.S. energy market.

"The Energy School" examined catastrophic occurrencesand studied their implications for insurance policies duringthe conference. The agenda also included discussions ofenvironmental issues, working through complex claims,interpretations for enterprise risk management, project

financing, crisis management, generalliability issues, ethics and the future ofenergy.

Saint Joseph’s administrators partici-pating in the conference included JosephDiAngelo, Ed.D. ’70, dean of the HaubSchool of Business; Sam Cupp, executive-in-residence in risk management andinsurance; Tim Boyce of the Early

Responders Distance Learning Center; John McCall, Ph.D.,director of the Pedro Arrupe Center for Business Ethics andprofessor of management and philosophy; and David Steingard,Ph.D., assistant director of the Arrupe Center and assistantprofessor of management.

Executives from Towers Perrin, Aon Risk Services ofTexas, Nexen, Inc., The OIL Group of Companies, ExelonCorp., Sunoco, Dempsey Partners, Energy Insurance MutualLtd., and Nuclear Electric Insurance Ltd. also spoke atthe event.

rely on word-of-mouth as the primary source of advertising.“It was a big deal when my dad let us get a computer in the

office a few years ago,” Daneen joked. “Even then, it didn’t havethe Internet or Microsoft Word.”

“My father has done a wonderful job building thebusiness with my mom, but it’s still an old-world bakery,”she explained. “We need to make some changes.”

Daneen, who will graduate this spring, is taking what shehas learned in the classroom and applying it directly to herfamily business in order to bring it up-to-date in a technology-based world.

Through Daneen’s food marketing classes, she has learnedhow to update the business and ensure success. In herConsumer Behavior class, instructed by Nancy Childs, Ph.D.,professor of food marketing, Daneen audited the bakery to seewhat practices could be improved.

“It was interesting because I’ve never sat on the other sideof the counter and watched my customers,” she explained.“It helped me become more aware of what the bakery needs.”

On her to-do list are tasks such as creating an e-mail listand customer database, recording customer demographicsand branding a slogan for the bakery to increase recognition.

Local radio stations such as WIP Sports Radio oftenorder food in exchange for free airtime, so Daneen plans touse this to her advantage. “I’m working on a consistentmessage that people recognize and associate with our bakeryto deliver on the radio or TV,” she said.

What is Daneen’s goal by graduation? “I am reviewing ourcurrent business strategies and hoping to present new, moreeffective solutions to my father so that we have something towork from,” she said. “I have learned so much through myeconomics class about supply and demand, and I think ourbusiness has the potential to be operating above the curve.”

With the independent study Daneen is taking thisspring under the guidance of Richard George, Ph.D., profes-sor of food marketing, she hopes her plan will come tofruition. The class will allow her to devote time specifically

toward reviewing and updating her business strategies.“My dad wants to further the business, but I just don’t

think he can do it himself because he’s too emotional aboutit,” said Daneen. “So that’s where I come into the picture.”

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The Philadelphia InquirerPress of Atlantic CityRetail WireRepublican-AmericanThe Sacramento BeeSeattle TimesSeattle Post-IntelligencerSun-SentinelThe Star-LedgerSupermarket NewsThe Southern TimesTechNewsWorldThe Times and DemocratVirginia GazetteThe Washington PostWisconsin Public RadioWPVI/6ABC

NewsmakersErivan K. Haub School of Business faculty have contributed their expertise to stories appearing in the following media outlets:

10 | HSB REVIEW

Family Business, continued from page 8

Daneen behind the bakery counter stocked with Marchianostop-selling stromboli.

Spring 2009 | 11

Journal/Research HighlightsDavid Allan, Ph.D. ’98

assistant professor of marketingJournal of Advertising ResearchMarketing Education Review

William J. Byron, S.J. ’51University professor of business andsociety

Delta Epsilon Sigma JournalThe Pastoral Review

Nancy Childs, Ph.D.professor of food marketing

Journal of the American College of Nutrition

Journal of Advertising ResearchMarketing and Public Policy

ProceedingsBook of Abstracts IFT 2008

Ronald Dufresne, Ph.D.assistant professor of management

Law and Contemporary ProblemsJournal of Management Inquiry

Lucy Ford, Ph.D.assistant professor of management

Journal of Occupational and Organizational Psychology

Ronald K. Klimberg, Ph.D.associate professor of decision andsystem sciences

Fundamentals of Forecasting Using Excel (Industrial Press)

International Journal of ManagementScience

Advances in Business and Management Forecasting

Ginette McManus, Ph.D.associate professor of finance

Journal of Business and Economics Research

Quarterly Review of Economics and Finance

The Business ReviewICFAI Journal of Urban Policy

Virginia Miori, Ph.D. assistant professor of decision andsystem sciences

Manufacturing, Distribution and Transportation in the Supply Chain

Advances in Business and Management Forecasting

Stephen Porth, Ph.D. ’80associate dean of HSB and professor ofmanagement

International Journal of Pharmaceutical and Healthcare Marketing

Pharmaceutical Executive

Nicholas J. Robak, Ph.D.professor of decision & system sciences

Management Review: An International Journal

Journal of Business Case Studies

Carolin D. Schellhorn, Ph.D.assistant professor of finance

North American Journal of Finance and Banking Research

Journal of Business and Economics Research

W. Richard Sherman, LLM, CPAprofessor of accounting

The Elderlaw ReportJournal of Personal Finance

Michael Solomon, Ph.D.professor of marketing and director,Center for Consumer Research

Marketing Education ReviewJournal of Advertising EducationThe Truth About What Consumers

Want (FT Press)Marketing: Real People, Real

Choices: 6th edition (Prentice Hall)

Consumer Behavior: In Fashion(Prentice Hall)

Consumer Behavior: Buying, Having,and Being: 8th edition(Prentice Hall)

Chapters in:Handbook of Research on Digital

Media and Advertising: User Generated Content Consumption(IGI Global)

Handbook on Brand Experience andManagement (Edward Elgar)

Virtual Social Identity (Sharpe)

Tim Swift, Ph.D.assistant professor of management

Research PolicyJournal of Business StrategyEuropean Journal of Scientific

Research

Ahmet Tezel, Ph.D.associate professor of finance

Technical Analysis of Stocks and Commodities

Journal of Business and Economics Research

The Business ReviewJournal of Personal FinanceThe ICFAI Journal of Urban Policy

Ira Yermish, Ph.D.assistant professor of decision andsystem sciences

International Journal of Knowledge Management

John C. Yi, Ph.D.assistant professor of decisions andsystem sciences

Expert Systems with Applications

Natalie Wood, Ph.D.assistant professor of marketing

Marketing Education ReviewJournal of Advertising EducationVirtual Social Identity (Sharpe)

David Allan, Ph.D. ’98

Nancy Childs, Ph.D.

Christopher Coyne, Ph.D. ’67

Joseph DiAngelo Jr., Ed.D. ’70

Richard George, Ph.D. ’67

Amy Lipton, Ph.D.

John Lord, Ph.D. ’71

John McCall, Ph.D.

Virginia Miori, Ph.D.

Eric Patton, Ph.D.

Joseph Ragan ’69

Claire Simmers, Ph.D.

Michael Solomon, Ph.D.

John Stanton, Ph.D.

Scott Testa Ph.D.

William Trombetta, Ed.D. ’65

Natalie Wood, Ph.D.

Faculty members who havebeen seen and heard in thenews include:

HSB CALENDAR OF EVENTSSPRING SEMESTER 2009

NON PROFIT ORGU.S. POSTAGE

PAIDSAINT JOSEPH’SU N I V E R S I T Y

5600 City AvenuePhiladelphia, PA 19131-1395

DEGREES OF EXCELLENCE

UNDERGRADUATEDay Program888-BE-A-HAWK

UNIVERSITY COLLEGEUndergraduate EveningProgram800-776-7572

GRADUATE PROGRAMSM.B.A.Executive M.B.A.Business Intelligence M.S.Food Marketing M.S.Financial Services M.S.Human Resource Management M.S.International Marketing M.S.Pharmaceutical Marketing M.B.A.888-SJU-GRAD

Visit the HSB web site at www.sju.edu/hsb/

March

12 Third Annual Food Industry Summit

16-19 International Business Week

18 Executive in Residence - Nick Nicolaides

April

8 ARMI Annual Scholarship Information Dinner

11 Hawks vs. Hunger Walk

18 Taste of Hawk Hill

23 Hall of Fame Dinner

23 Student Achievement Day

May

1 Business Policy Competition

1 Sutula Scholars Induction Dinner

3 Beta Gamma Sigma Induction Ceremony

7 Accounting Advisory Board Meeting

16 Commencement