Georgetown

Business SPRING / SUMMER 2000

t h e r ob e rt e m m e t t mc d on o u g h s c ho ol of b u s i n e s s
volume 12 number i1

The Evolution of Business Education: From Old to New

Marketing the Common Good

Real Money Breathes Life into Graduate Investment Fund

Georgetown Business is
published during the academic
year by The McDonough School
of Business for alumni, parents,
friends, and business colleagues.
Dean
Christopher P. Puto, Ph.D.
Senior Associate Dean
John Mayo, Ph.D.
Editor
Elizabeth Shine g99
Contributing Writers
Kenneth Starr mba00
Bindu Vaswani b00
Lynn Cothern Crites
Susan Price
Designer
Nancy Van Meter
Photographer
Keith Tishken
Georgetown Business
welcomes inquiries, updates,
opinions and comments expressed
by its readers. Letters should be
addressed to:
the editor
Georgetown Business
Deans Office
Georgetown University
The McDonough School
of Business
Old North Building
Washington DC 20057

phone: 202-687-4080
www.msb.edu

CONTENTS
Inside Information. . . . . . . . . . . . . . 2
The Evolution of Business
Education: From
Old Economy to New . . . . . . . . . . . 6
Marketing the Common Good. . . 13
Real Money Breathes Life into
Graduate Investment Fund. . . . . . 14
Curriculum Revisions Make
Undergraduate Business Major
more Rigorous, Relevant . . . . . . . 21
Alumni Notes. . . . . . . . . . . . . . . . . 31
LETTER FROM THE DEAN
WELCOME
T he dynamic nature of business and business education lends itself naturally to
quantifying results. But to get meaningful results, leaders need to reflect on the state of
their industry, what they perceive the future to be, and how they are going to get there.
In the past year, I have given much thought to where we are and where we are
headed. To become the leading business school I envision requires shaping curricula to meet
the needs of the Information Age, recruiting diverse and talented faculty, students and staff,
and building a facility to house the Mc Donough School of Business.
My senior administrators have brought their own expertise to bear as we map out
the strategy to achieve these goals. In this issue, Larry Abeln, associate dean of graduate
programs, draws on his experience here and as director of MBA programs at the Mass-
achusetts Institute of Technologys Sloan School of Management to predict what the future
of graduate business education may hold. Increasing globalization is one factor Larry points
to; this spring, the MBA Class of 2000 was the first to participate in the
overseas integrative section of the new MBA curriculum (see page 6).
We are also shaping the future of undergraduate business education. You will read
about the recommendations made by the undergraduate task force to make the curriculum
and our graduates competitive in the global marketplace.
Part of reshaping curricula at both the undergraduate and graduate levels involves
offering courses that are not only relevant but are cutting edge. This issues faculty forum
focuses on a new McDonough School MBA course that explores the impact of the Internet
on new product development and marketing.
Students are playing a vital role in helping to elevate our programs. With the help of
the McDonough School Board of Advisors, our MBAs have secured money for the Graduate
Investment Fund to invest. This is a testimony to the ambition and determination that drives
our MBAs to achieve.
From social marketing to diplomacy to dot.coms, our alumni continue to be our best
ambassadors literally and figuratively. Their involvement is a key catalyst in our equation
of the future.
We have taken the measure of where we are. We know that the future will be driv-
en by the forces that shape business, technology and globalization foremost among them.
But our ability to get from where we are to where we would like to be lies in the heart of
the Georgetown McDonough School experience people.
Christopher P. Puto, Ph.D.
Dean
1
Inside Information
Volunteers Redefine
Tax Break
T his tax season, for
the thirteenth year running,
accounting and finance stu-
dents volunteered their skills for
D.C. Community Tax Aid
(CTA), Inc., an all-volunteer,
not-for-profit organization that
provides no-cost tax
services for residents with
incomes under $20,000.
Volunteering is a terrific
way to put our accounting and
tax knowledge to use to help
people in strained circum-
stances, says Christina
Nystrom (B00), an officer with
Georgetowns McDonough
Schools Accounting Society.
D.C. Community Tax Aid
provides volunteers with a full
day of training that covers 1040
preparation and interviewing
techniques. Thirteen business
school students from
Georgetown provided almost
90 hours of service this tax sea-
son, according to Teresa Hinze,
2 The McDonough School of Business
CTAs volunteer director. This
year, a total of 300 volunteers
CPAs, lawyers, and students
provided services to about
1600 people at 12 locations in
the metro area.
Georgetown volunteers
allow us to help more taxpay-
ers, says Jeff Gold, CTAs
Washington chair. Because
most of these taxpayers receive
refunds, hundreds of thousands
of dollars are returned to the
community.
Melissa Cosgrove (B02), an
accounting and finance major,
helped 13 taxpayers this season.
She initially volunteered to
enhance her resume, but
believes using her skills to have
a positive impact on those in
need was the rewarding part of
the experience.
People really depended on
us, she says. We found a lot
of ways to help people get tax
credits on their small amount
of income. It was really great to
be able to help.
MicroStrategy CEO
Addresses Georgetown
MBA Tech 2000
Conference
I n his keynote address to
the Georgetown MBA
Technology Conference 2000,
MicroStrategy CEO Michael
J. Saylor advised MBAs to
mak[e] money creating new
values from intelligence that
has never existed before.
Saylor spoke about
MicroStrategys success in
becoming a market leader in
decision support systems, a
sophisticated datamining tech-
nology that allows companies
to accurately predict consumers
behavior, to illustrate how tech-
nology will change business in
the next decade.
Held on January 21, MBA
Tech 2000 was the third annual
student-run conference to
bring industry leaders to
Georgetowns campus to dis-
cuss the latest trends in the
technology industry.
Following Saylors address,
two panel sessions examined
functional areas shaping the
industry marketing, consult-
ing, finance, entrepreneurship,
interactive media, technology
in emerging markets, telecom-
munications and e-business.
Panelists included representa-
tives from Microsoft, AOL-
International, GE Information
Services, Cyveillance, UUNET,
and American
Management Systems.
MBA Tech 2000 is a way
for the business school to pro-
mote Georgetown as a willing
institutional partner with
the high-tech corridor, says
associate dean of graduate
programs Larry Abeln.
The conference reflects
a growing interest by
Georgetown MBA students in
becoming technology entrepre-
neurs. Headlight.com, an e-
commerce site that sells units of
learning via the Internet, was
started by Scott Mitic and
Peter Mellen (both MBA98)
while enrolled in Georgetowns
MBA program.
Pangea Limited, an alterna-
tive fiber-optic network
provider, was developed by a
team of Class of 1999 MBAs
as a business plan for an entre-
preneurship class. Since gradu-
ation, the student team has
raised $450 million in equity
financing for this project. Jeff
Somerville and Gino Heilizer
(both MBA99) started
www.stockgift.com, a website
that allows individuals to cal-
culate the gift value of stocks,
during their second year of the
MBA program.
IADB Official Addresses Technologys Impact MBA Program
on Emerging Markets Fares Well
in Annual Rankings

A t Georgetown McDonough Schools Emerging Markets

Conference on February 11, Charles Sethness, chief financial officer G eorgetowns McDon-
of the Inter-American Development Bank (IADB), spoke of the ough School of Business
profound impact the technology revolution is having on emerging occupied high spots again this
market countries and the importance of stable institutions for dealing year in rankings of graduate
with these changes. business schools.
The world is shrinking towards becoming a single market for In the Financial Times rank-
money, goods, services and ideas more quickly than governments can ing of 75 MBA programs
cope, said Sethness. A shrinking world brought together by the worldwide, which was released Our ranking in the Financial
Internet revolution will be intolerant of dual or multiple standards in on January 24, the McDon- Times highlights the value
the way markets operate and the way they are governed. ough School MBA program of a McDonough MBA in the
The bank works with 28 Latin American and Caribbean coun- ranks as 28th, up from 32nd marketplace and the respect
tries to further economic and social development. last year. the MBA program commands
Organized by Georgetowns MBA International Economic The ranking also listed the internationally, says Dean
Development Network, the annual conference is co-sponsored by the top ten schools in various cate- Christopher Puto.
Black MBA Association, Inter-American Business Association, and gories. In two of the categories, In the U.S. News & World
European Business Association. salaries in finance and salaries Report MBA program rank-
We want to create a dialogue for students with practitioners who in information technology, ing, which hit newsstands
can give them a real-world account of how theyd handle certain situ- McDonough MBAs ranked April 3, the McDonough
ations, said Eric Main (MBA00), network vice president. We also fourth and sixth respectively. School ranked 29th, down
want students to see how their interests might fit a particular career Writing about investment three places from last year. It
path. bankers salaries, Financial remains in the ninetieth per-
Students also gained insights from panelists, including executives Times business education centile of American MBA
from PricewaterhouseCoopers, Andersen Consulting, Morgan reporter Della Bradshaw noted, programs. The program was
Stanley Dean Witter, At Harvard, the 43 respon- ranked 12th this year in the
Goldman Sachs, MCI dents reported an average salary specialty area of international
WorldCom, Lucent of $223,100, closely followed business.
Technologies, CNG by the Sloan School at MIT,
International, and Nextel the McDonough School at
Communications. Georgetown University, and
Students raised such top- Wharton at the University of
ics as Southeast Asias recovery from its financial crisis and the devel- Pennsylvania, where alumni
opment of telecommunications infrastructure in China and other earn an average of more than
emerging markets. $200,000.
The conference attracted 200 participants including students
from Georgetowns schools of public policy, law, and foreign service.
MBA students from American University and George Washington
University also were invited.

Spring / Summer 2000 3

 Inside Information
MBAs Network to
Technology Careers
T his spring, MBAs and
members of the local high-tech
industry networked on Tuesday
evenings through Cyber Caf,
an initiative by MBA Career
Management (MBACM) that
brings representatives from
companies such as America
OnLine (AOL), LifeMinders.
com, Bigdough.com, and Teli-
gent to discuss careers in the
industry in an informal setting.
Seeking to match MBAs
business skills to the large num-
ber of local growing high-tech
firms, Cyber Caf is a win-win
situation for both companies
and students, notes Toni Della-
Ratta, MBACM associate
director. A number of students
have gotten jobs from meeting
company reps at Cyber Caf.
4 The McDonough School of Business
As much as possible, Della-
Ratta pulls in alumni who have
landed jobs at these companies.
Theyre fun and can describe
how their studies shaped their
career paths,
she says.
Cheryl Opell (MBA99),
manager of reporting and
analysis for interactive market-
ing finance at AOL, gave a
presentation with colleague Jeff
Sunshine (MBA99) about
career opportunities at the
company. Surprised to find a
packed house of about 100 stu-
dents, Opell noted that there
was nothing comparable to
Cyber Caf when she was a
student. Getting to know law, noted Eizenstat.
alumni who do what you want
to do in a company you want
to work for is the best way in
the door, Opell says.
CEOs, Secretaries Address
McDonough Graduates
A U.S. Treasury official,
the founder of a trio of billion-
dollar companies, and the head
of the National Association of
Securities Dealers (NASD)
were this springs McDonough
School commencement speak-
ers.
In his address to MBA
graduates on May 26, Deputy
Treasury Secretary Stuart
Eizenstat called for an open
global market. As countries
open their economies, the need
increases for a stronger rule of
Clinton administrations. He
Ultimately, this strengthens
domestic forces and improves
human rights.
Jonathan Ledecky, who
spoke at the Executive MBA
graduation ceremony April 29,
used his credit cards to finance
his first company, U.S. Office
Products in 1994. Sales grew to
$4 billion within three years.
Two other businesses he
founded, U.S.A. Floral
Products and Building One
Services, leaped to $1 billion in
sales their first years.
Ledecky co-owner of the
NHL Washington Capitals, the
NBA Wizards and the WNBA
Mystics is an active volun-
teer and fundraiser for many
groups supporting inner-city
youth.
On May 27, undergraduates
heard Frank G. Zarb,
who became NASD chairman
in 1997. Previously, he headed
Alexander & Alexander, a glob-
al management consulting firm,
and the Smith Barney invest-
ment firm, where he oversaw
record financial performances.
Zarb also served in various
assignments with the Nixon,
Ford, Reagan, Bush and
was the governments senior
official on energy-related activi-
ties (the energy czar) from
1974 through 1977. Hofstra
Universitys business school is
named for Zarb, an alumnus.
New York Federal Reserve Bank President
Among Leaders Addressing CMRC

W illiam J. McDonough, president of the Federal Reserve

Bank of New York (FRBNY), addressed the Capital Markets
Research Center (CMRC) on central banking and crisis manage-
ment February 2.
McDonough noted that improved fiscal and monetary policy by
both political parties since the mid-1980s has enabled the American
private sector to increase productivity, a major factor in the success of
the recent U.S. economy.
Yet McDonough warned against seeking formulas for continuing
economic success. If there is anything the Fed can be proud of over
the recent years, it is that we have understood the most important
concept of public policy, he noted. We know what we do not
know. We have some ideas, but we do not fully understand why the
economy is behaving so well...[or] how long it will continue.
Lloyd Campbell (B79), managing director of Credit Suisse First
Boston, was the keynote speaker at a March 24 CMRC
seminar to kick off the Iowa Electronic Markets (IEM) Inter-
Disciplinary Educational Alliance Conference. The conference, held
at Georgetown, introduced minority faculty and students to IEM, a
real money, computerized futures market operated as a not-for-prof-
it teaching and research tool by the University of
Iowa Tippie College of Business.
Speaking about minority representation in the financial industry,
Campbell observed that diversity cannot be force-fed. It needs to be
recognized and it needs to be valued. Campbell noted that while
performance and hard work are key in succeeding on Wall Street,
identifying and cultivating candidates early in their careers is vital.
Other notables who have addressed CMRCs seminars this year
are E. Gerald Corrigan, Goldman, Sachs chair of international advi-
sors and former FRBNY president, and Ira Millstein, senior partner
in the New York-based international law firm of Weil, Gotshal &
Manges LLP.

Spring / Summer 2000 5

The Evolution of
Business Education
From Old Economy
to New By Lawrence S. Abeln

As associate dean and director of graduate

business programs at Georgetowns McDonough School of Business, and
previously as director of the MBA program at the Massachusetts Institute
of Technology Sloan School of Management, I have witnessed first-hand the
significant changes in graduate business education in the last six years. Indeed,
the Sloan School affected some of these changes with an online registration
and application system, implementation of career management tracks as part of
the MBA curriculum, a reduced, one-semester required core and the introduc-
tion of alumni career services.
As we continue to make Georgetowns
McDonough School graduate academic programs preeminent and responsive
to the needs of the marketplace, I try to envision how we might prepare for
that future now. Following are some perspectives shaped by my experiences
and what I believe the future of business education may hold.
History and Growth of Graduate From 1955 to 2000, the number of and quantitative tools. Hence, both experi-
Business Education MBAs awarded annually grew twenty-fold, ence and advanced education became
early 100 years ago, few American from 4,500 to over 100,000 degrees within viewed as complementary towards success
N universities considered business edu-
cation part of their academic mission. In
the U.S. This historic growth and accept-
ance of the degree in the U.S. brought it
in an environment of change and as a
foundation for the development of corpo-
1901, Dartmouth awarded the first gradu- international recognition. Traditional inter- rate leadership.
ate degree in business. Harvard and national academic powers like Oxford and This change was brought about by
Wharton joined as institutional pioneers Cambridge added MBA degree programs such factors as global competition, techno-
and others in the Ivy League followed. By during the 1990s. Georgetowns MBA logical advancements and innovation, cor-
the midpoint of the century, although program began in 1981. porate downsizing, total quality manage-
many institutions had begun offering busi- The growth in MBA education was ment, quantitative financial modeling,
ness programs at the undergraduate level, inextricably linked to both economic mergers and acquisitions, changing behav-
graduate business education remained an expansion and the complexities it pro- ior of consumers, transition to a service
exception. Only 4,500 MBA degrees in duced, which required effective organiza- economy and increased demands for quali-
total were awarded annually across all U.S. tional leadership and competence. The ty and efficiency. Managing amidst these
schools by 1955. forces of economic growth and a rapidly complexities required leaders with a theo-
Graduate business education was con- changing business climate required profes- retical and structural framework, which an
centrated among a few elite schools, had a sional managers equipped with analytical MBA could provide.
limited research focus and lacked standards capacities, team skills, technical abilities,
Current State of Graduate
of accreditation. To some, it was practical
experience rather than advanced education
which brought success in industry; corpo-
rate leadership was viewed as innate rather
than a learned skill.
In 1958, the American Assembly of
Collegiate Schools of Business (AACSB)
developed standards for the MBA and
emphasized curricular standardization
across institutions. This resulted in greater
uniformity in course content, although
methodology of teaching (cases and lec-
ture) varied widely across programs.
During the 1960s, the Ford
Foundation contributed $35 million to
improve the intellectual climate of graduate
business education and more American
universities recognized the beneficial
impact of a research base focused on man-
agement education.

8 The McDonough School of Business

Business Education
or candidates continuing their profes-
F sional education, the MBA can serve
as a vehicle to advance within their organi-
zations and allow others desiring a career
transition to repackage themselves into
another career. Until twenty years ago,
many candidates entered MBA programs
with little work experience. By the mid-
1980s, the average entering age prior to
enrollment increased significantly. Among
the top-ranked schools, candidates now
enter with over four years of work experi-
ence and at an average of age 27.
There is also an increased percentage
of minorities, women and international
students enrolled in MBA programs, which
has added to the diversity and breadth of
the classroom experience, and more accu-
rately reflects the multicultural workplace
today. For instance, the MBA programs
recent entering class at Georgetowns
McDonough School was 35 percent female
and 41 percent international.
Candidates for admission are primarily
evaluated based upon the extent and quali-
ty of their work experience, and their aca-
demic performance as demonstrated
through their undergraduate record and the
standardized Graduate Management
Admissions Test (GMAT) examination.
The average GMAT at Georgetowns
McDonough School MBA program, for
example, is over 650 and the average grade
point average is 3.4 this year.
As the average age of candidates
increased, many business schools revamped
their MBA curricula to respond to a student
population that had been immersed in
industry for several years, and wanted a
greater link between theory in the class-
room and practical application. Schools
responded to the rapidly changing market-
place by incorporating both industry trends
and recruiter needs into their programs.
Three integral forces have impacted
the current state of business education.
Among these have been: (1) curriculum
reform; (2) increased options and programs
for candidates to pursue the MBA; and (3)
intense competition among a group of fifty
schools desiring to be among the top twen-
ty MBA programs for resources, research,
faculty, students and facilities.
First, almost all of the leading pro-
grams have revamped their curricula in the
last five years. These changes have includ-
ed: reduced cores; expansion of electives
offerings; creation of concentrations and
career tracks; opportunities for students to
individualize a course of study; modules of
shorter length courses; multidisciplinary
approaches with integration among the
core courses; increased correlation between
academic programs and career placement
functions; and introduction of new aca-
demic areas of study such as electronic
commerce, entrepreneurship, and financial
engineering.
Georgetowns McDonough School
MBA Class of 2000 recently was the first
class to complete the new graduate curricu-
lum, which was instituted in fall 1998. The
changes included movement to a modular
system of six-week semester courses; five
week-long integrative experiences over the
two years aimed to integrate the core disci-
plines; a decision sciences selective to
strengthen the quantitative skills; an over-
seas residency and completion of a team
consulting project with a foreign company.
Georgetowns McDonough School of
Business is one of the few schools to
require every MBA to participate in an
overseas residency. The new curriculum
allows students to be exposed to finance,
marketing, and operations in the fall
semester, providing them with greater
preparation for their summer internships.
Second, educational institutions in
Europe and Asia have challenged the U.S.
monopoly and dominance of MBA educa-
tion. Competition from London Business
School, IESE and ESADE in Spain,
Rotterdam in the Netherlands, Insead and
Essec in France, SDA Boccini in Italy,
IMD in Switzerland, and Oxford and
Cambridge among others have provided
candidates with many more options as to
where and how to pursue their degrees.
Business schools have also emerged in
Central and Eastern Europe, and in the
former Soviet Union. As a correlation to
the AACSB, Europe developed its own
accreditation process Equis which
demands certain common standards in
program requirements.
Spring / Summer 2000 9
 Recognizing the international compe-
tition, as well as the expanded MBA mar-
ket, many U.S. business schools have part-
nered with foreign institutions to create
satellite operations in both Europe and
Asia. Some examples are the University of
Chicago in Spain, Case Western in
Hungary, and Babson in China. Dukes
Global program provides a residential com-
ponent across four continents.
MITs Sloan School initiated pro-
grams in Singapore and China to train fac-
ulty members to teach in local MBA pro-
grams. The Indian School of Business
(ISB) plans to open in 2001 with the help
of U.S. partner institutions and will allow
students to sit in on lectures broadcast from
the Wharton and Kellogg schools.
Third, as foreign institutions have
added the MBA to their portfolio of
degree programs, competition among many
U.S. business schools has increased for the
top candidates, faculty, research, facilities,
recruiters, and overall resources. Media
rankings have also fueled this competition
among national schools and regional
schools with ambitions to build a national
reputation.
Both BusinessWeek and U.S. News and
World Report, two benchmark rankings of
U.S. business schools which do not include
foreign institutions in their compilations,
have been challenged recently by the
Financial Times, which ranks the top 75
international programs. Forbes has also
joined the ratings game; The Wall Street
Journal is soon to follow.
To attract top students, business
schools have been building up their facili-
ties and investing in prime campus real
estate to attract and retain quality faculty
and students. Boston University spent over
$100 million to construct its new business
school facility on the Charles River two
years ago; Wharton will spend over $100
million on a new facility to be opened next
year; Stanford completed a residential facil-
ity in 1999 to house its MBA students.
Last year, Georgetown McDonough
Schools MBA program renovated the Car
Barn as a first step towards a new, 200,000
square foot facility to be located on the
main campus at an approximate cost of $60
million.
To further increase student satisfaction
while enrolled, schools have invested in
student, alumni and recruiter services
including online registration, computing
laboratories, website redesign and imple-
mentation, alumni career management,
interview rooms, student lounges and even
simulated trading rooms. These improve-
ments across the programs are aimed to
create a professional environment where
students perceive value and high quality.
With nearly 400 AACSB accredited
schools and with full-time, part-time,
weekend options, and foreign institutions
expanding into the market for the 100,000
MBA degrees awarded annually, competi-
tion among schools will continue to
increase and will challenge the traditional
dominance of leaders such as Harvard,
Stanford, and Wharton.
The Future of Graduate
Business Education
usiness schools are now major forces
B within universities. In addition to the
100,000 MBAs awarded annually, nearly
25 percent of undergraduates in the U.S.
are majoring in business. The MBA as a
professional degree program is now the
equivalent of legal and medical education.
Graduate business programs are now stan-
dard in universities portfolios of graduate
degree programs that enhance an institu-
tions overall reputation.
Cross-functional disciplines can devel-
op between MBA programs and graduate
programs in engineering, science, arts and
humanities. For instance, business and
medical schools can integrate faculty
expertise in healthcare management; law
and business schools can combine expertise
in taxation, antitrust regulations and bank-
ruptcy. Georgetowns McDonough School
MBA program currently enrolls over 30
students in joint degree programs, includ-
ing those in law, medicine and foreign
service.
Candidates will continue to view the
MBA as a path to success and financial
rewards. Graduates from the top programs
often triple their salary upon graduation.
The average starting salary at the top ten
schools in U.S. News and World Report is
over $90,000 annually and many graduates
received signing bonuses of $25,000. Post-
MBA earnings have also soared. Three
years after graduation, Harvard MBAs
earn an average salary approaching
$175,000.1
Spring / Summer 2000 11

Business education in the future will
be even more responsive to the constituents
it serves, in particular applicants, students,
alumni, recruiters and corporate sponsors.
As the labor market expands to be more
inclusive of women and minorities in cor-
porate leadership positions, MBA enroll-
ment will become more diversified. The
university will continue to see the benefits
of partnership with industry for research
collaboration, career placement opportuni-
ties for students and delivery of executive
education programs.
The website, rather than the tradition-
al MBA brochure, has become the front
door to MBA programs. Many business
schools have sought to build an electronic
community and made it easier for candi-
dates to submit and even check the status
of their application online. Through
www.embark.com, applicants to
Georgetowns McDonough School MBA
program can submit an electronic applica-
tion.
At the leading MBA programs,
including Georgetowns McDonough
School, students register for courses elec-
tronically, drop and add them online and
check their grades with their personal iden-
12 The McDonough School of Business
tification numbers from the web.
The MBA curriculum cannot ignore
the influences of technology, the global
network, and new academic areas such as
electronic commerce, entrepreneurship and
financial engineering. These new areas
require the development of an academic
framework and structure for learning as
well as in some cases new teaching
methodologies. Technology has allowed the
delivery of academic content through cases
and lectures to be complemented with sim-
ulation exercises and experiential learning.
A number of business schools, includ-
ing Vanderbilt, Wharton and MIT, have
added formal e-commerce concentrations
as part of their MBA curricula. Although
e-commerce majors are all the rage now,
many schools say they will fade eventually,
as the Internet becomes a natural way of
doing business as the telephone. 2 The
Internet and web-related content will be
incorporated into all of the traditional core
disciplines from strategy to marketing to
economics and finance rather than exist as
a separate academic discipline.
It is not possible for the computer to
solely replace interaction between students
and faculty members on campus. But the
full-time traditional model has already
been challenged by part-time and weekend
programs and distance learning options. Is
there an alternative?
There is. It is possible to achieve a
hybrid, one that could be achieved by
replacing the traditional model of a two-
year full-time on-campus degree program
with a combination of on-campus and vir-
tual learning. The four-semester residential
format adopted and maintained by the top-
ranked schools could be replaced with a
two-semester on-campus/two-semester vir-
tual model.
The model would include a commit-
ment on the part of the business school to
deliver continuing education, life-long
learning to its alumni as well. It could also
result in more partnerships between U.S.
programs and international institutions to
deliver the academic content and enrich
the MBA experience through exposure to
different perspectives.
Why not just a purely virtual MBA? A
virtual episode cannot replace classroom
learning. The MBA is a whole experience
rather than an accumulation of credits; it
involves team-based learning in cohorts;
networking; participation in student club
organizations; recruiting and placement
activities. Preparing students to succeed in
business requires the dynamic of human
interaction.
1
Parminder Bahra, The Rankings: Analyzing the
Facts and Figures Financial Times, 11 Feb. 2000, U.S.
ed., Business Education sec.: ii.
2
Miriam Hill, More Business Schools Are Turning
to E-Commerce The Philadelphia Inquirer, 6 Mar.
2000: A5
Marketing The Common Good
By Michael Havard (MBA89)
ore companies are partnering
M
with charities in joint market-
ing initiatives known as cause
marketing efforts. Whether its Starbucks
and literacy causes, or Dennys Restaurants
and Save The Children, these marketing
partnerships are at their best, strategically-
based, win-win collaborative efforts, and at
their worst, short-term promotional
schemes. While it is difficult to assess this
increasingly complex arena in a few words,
as a marketer in the non-profit arena, I
offer a few observations.
As consumers get exposed to
more of these promotions, they
are becoming more savvy as to
which ones are truly making a
difference. While wed like to
think that caring hearts alone
have brought many a company to
cause marketing, its clear that
cause marketing is good business
when used properly. As the quali-
ty differences in many packaged
goods continue to shrink and as
private label brands grow, many
marketers are increasingly drawn
to values-based marketing to say
something more about what they stand for
and to forge an emotional bond with con-
sumers.
However, my overall sense is that
increased cause marketing efforts are bene-
ficial for several reasons. First, they increase
corporate awareness of the need to give
back to society. Second, it can increase
employee awareness and involvement
in charitable causes.Third, effective cause
marketing programs can assist charitable
organizations in getting their message out
to consumers.
Long before cause marketing was in
vogue, actor Paul Newman founded a little
food company called Newmans Own, with
the introduction of his kick-in-the-der-
riere salad dressing. He donated all the
profits to charity and introduced only all
natural no-nonsense foods. According to
Paul, the company was started as a joke
and just got out of hand. Nearly 20 years
later, this little joke produces approximately
$100 million in annual sales and has fueled
charitable contributions of over $100 mil-
lion to over 1,000 different charities.
Is Newmans Own cause marketing?
Well, not exactly. Newmans Own is
unique in that it is the only national con-
sumer products company that is in bus-
iness entirely for charity. We start the year
with only minimal working capital funds
and accumulate profits as we sell products
during the year. Then Paul sits down at the
end of the year and gives away all profits
after taxes. We try to keep our overhead
low. Most consumers buy our products
because of the quality of our foods. Many
know that some of the profits go to charity;
few know that all profits go to charity.
While we are working to increase consumer
awareness of the charity message, we con-
tinue to lead with the food. By the way, our
new Family Recipe Italian salad dressing is
delicious (shameless plug!).
Several elements of my Georgetown
experience continue to be valuable
to me as I attempt to market for
the common good. First, the gen-
eral management approach and
diverse student body fostered flex-
ibility in management style.
Second, the focus on business
ethics raised my awareness that
business decisions are measured
by criteria other than those on the
income statement. Third, the
Georgetown culture fostered a
mindset that service matters. I
applaud the fine work of work of
Professor Alan Andreasen, who
recently established the Social
Marketing Institute*, in strengthening
Georgetowns position in this important
area of study.
Michael Havard is vice president of marketing
and public relations for Newmans Own, Inc.
* The Social Marketing Institute draws partners
from the corporate and non-profit arenas to address
social problems through marketing.
Spring / Summer 2000 13
 Real Money Breathes Life into
Graduate Investment Fund
s an investment fund an investment
I fund if it lacks real cash? Not in Rachel
Cain or Joshua Slaters (both MBA00)
minds. Upon being elected in December
1998 as co-chairs of the Georgetown
McDonough Schools Graduate Investment
Fund (GIF), their goal was to put teeth in
the fund by securing real money to manage.
The fund is a subcommittee of the
Graduate Finance Club and has been a
paper fund since 1997.
They succeeded. In March, the
McDonough Schools Board of Advisors
secured $150,000 of Georgetown
Universitys endowment for GIF to man-
age. In addition, several board members
have donated to the fund.
Theres a different tension that goes
with managing real money, and its a
healthy tension, says C. Allen Merritt
(B62), chief operating officer of the Liberty
Financial Companies, Inc., and a
McDonough School board member. It
changes the characteristics of the group
activity.
Cain and Slater both worked as asset
managers before they entered the McDon-
ough Schools MBA program. Cain worked
at Sanford C. Bernstein and Co., Slater at
U.S. Trust. Working with GIF members,
Cain and Slater drafted a prospectus and
took their proposal to McDonough School
dean Christopher Puto.
14 The McDonough School of Business
We wanted to secure real funds for
students to manage, says Cain. Thanks to
their efforts, GIF is one of the most active
and rapidly growing student groups in the
MBA program, with 37 members. They are
succeeded by new co-chairs Sami Al-Bashir
and Mark Markowski (both MBA01). Al-
Bashir and Markowski also bring real-
world portfolio management experience to
the fund.
Since receiving the $150,000, GIF has
invested approximately one-third of the
funds in stocks such as Citigroup, Xilinx,
Worldcom, Enron, Johnson & Johnson,
Cisco, and MBNA America. The GIF
members plan to allocate 40 percent of
assets to technology and telecommunica-
tions; 18 percent to financial services and
real estate; 17 percent to health and bio-
technology; 13 percent to energy, chemicals,
and raw materials; and 12 percent to basic
industry and consumer products.
International stocks are also an area of
strong interest. Fund analysts are examining
the American Depository Receipts foreign
companies (such as British Petroleum) that
are listed on the American stock exchanges
as possible investment vehicles. The fund is
invested in equities only, no bonds. Were
keeping the fund in equities because they
are more high-profile and easier to manage,
says Al-Bashir.
Student-run investment funds have a
reputation for being aggressively managed,
but Cain emphasizes the funds conservative
approach. We have focused on internation-
al stocks with long-term growth potential
and we benchmark against the Morgan
Stanley Composite Index (MSCI), says
Cain. The MSCI is considered the best
indicator of world composite equity bench-
marking.
Theres a different tension that
goes with managing real money,
and its a healthy tension.
It changes the characteristics
of the group activity.
C. Allen Merritt, Jr. (B62)
Chief Operating Officer
Liberty Financial Companies, Inc.
The GIF portfolio has done well on
paper, but with only a third of the $150,000
invested, this years co-chairs are cautious in
making claims so early in the game. Weve
been beating the MSCI and the NASDAQ
on paper since GIFs inception, and were
beating 99.5 percent of portfolio managers,
but weve only had the assets under man-
agement for 60 days, so its too soon to tell,
says Markowski. The main thing is learn-
ing how to analyze companies and manage
a portfolio.
During the year and a half that stu-
dents pitched the idea of real money for the
fund, the market was high. Just when they
had money to invest, the stock market
dipped. But this has not unnerved GIF
members. As Cain notes, we stayed right
on target with the MSCI. We were diversi-
fied and werent out of step at all.
The GIF board annually conducts
interviews to select two co-chairs, a head
of research, head of compliance, head of
trading, and two officers for internal and
(Left to Right) graduate investment Fund leaders Joshua Slater (MBA 00), Sami Al-Bashir (MBA 01),
Mark Markowski (MBA 01), and Rachel Cain (MBA 00)
external communications. Four regional
and five industry analysts present market
research and proposals for investments at
weekly board meetings. The students
defend their financial positions twice a
year before the McDonough School Board
of Advisors and are directly accountable to
the board and Dean Christopher Puto.
Whether a fund is student-run or
corporate, the skill sets required for success
are the same. We have responsibility for
financial decisions and for performing due
diligence in line with the funds objectives
and time horizons, says Cain. We have
to sort through contradictory sources of
information to make decisions.
Ultimately, GIF has its sights set on Once there is real money on the line,
more than financial returns. The funds
everyone takes the investment fund
goals for the upcoming year are to
improve GIFs public profile, recruit more much more seriously. For the students,
students, invite alumni in the financial
the responsibility they have undertaken
industry to speak on portfolio manage-
ment and market analysis, and use the is very tangible. This level of commitment
fund to promote the MBA program to
creates a much more powerful learning
prospective students and corporate
recruiters. We want to provide a forum experience than simply managing
for ideas about the market and leverage
a phantom portfolio.
the knowledge of the whole community
alumni, students, and faculty, Al-
Gary Blemaster
Bashir says. Lynn Cothern Professor and former managing director,
investment banking, Merrill Lynch
Spring / Summer 2000 15
 FORUM
Teaching Internet Product Development
Faculty
By Robert J. Thomas
n the early 1990s, increased awareness
I of the Internet led many firms to
develop Web pages for their cus-
tomers. However, few attempts were made
to capitalize on the Internets interactivity.
The emergence of Amazon.com and
other dot.com firms changed the way peo-
ple used the Internet. The possibility of
accessing millions of customers online
meant that traditional product develop-
ment activities would never be the same.
With this in mind, I developed an experi-
mental MBA course, Internet Product
Development, this spring.
The Problem with Traditional New
Product Development
Statistics suggest that anywhere from 40
percent to 90 percent of new products fail.
Although improved business processes
have increased the success rate somewhat,
the odds arent much better than flipping a
coin. To deal with this, firms have focused
on speeding the process of development
and increasing interaction with consumers
in the hope of defining products with
superior competitive advantage.
But even with an emphasis on a
streamlined development process, top
managers will still question the findings.
Given the risks and failure rates of new
products, managers always have nagging
questions about expected customer
response to a new product or service
even in the face of positive market
research results.
16 The McDonough School of Business
Enter the Internet
To teach Internet Product Development
meant determining how it differed from
traditional product development in coping
with the risks of new product failure.
When we use the term products here, we
include a variety of tangible products,
information products, and services for busi-
ness organizations and consumers. Thus,
Internet product development is not just
about Internet products, but its use in
improving the performance of all kinds of
products and services.
Early indications from our course
reveal that the Internet is an important
tool for reducing new product develop-
ment risk. In class, we identified four
major Internet trends that shape the dif-
ferences.
Easier Access to Communities
of Innovators
There are some 60 million Internet
users in the U.S., who can gather in a vari-
ety of community formats for a few hours
or a few years. They can be anonymous or
identified in their communities, and can
chat on almost any topic. Developers of
new products can establish linkages with
these communities, or establish new com-
munities to specifically respond to/ gener-
ate new product ideas. This is difficult to
accomplish with customers offline.
For example, in 1998, when a product
developer at Texas Instruments (TI) was
trying to develop a new calculator for
teaching math to high school students, he
discovered that math teachers frequently
used chat rooms to discuss their problems.
He invited the participants in these chat
groups to visit the TI website to look at an
initial version of the new calculator. He
asked for their advice in improving the
design. The response was so positive, that
the teachers took a sense of ownership in
the new product they had helped create
and wanted to know when they could
order it for their classes. The eventual
product was very successful.
Of course, once you put your product
ideas on the Internet, the competition can
observe them. Therefore, how one man-
ages these communities of innovators pres-
ents real decision problems for new prod-
uct managers. The benefits must be bal-
anced against the risks.
Faster Market Response Information
Speed is of the essence in new prod-
uct development. Once a new product idea
is formulated into a recognizable concept,
it is often tested with a sample of potential
buyers to get their reaction. This can take
up to three months, sometimes longer. The
difficulty comes when a senior manager
asks the relatively simple question of
What happens to sales if we change this
feature? This often requires another three-
month concept test. Now, imagine answer-
ing that question in 48 hours by using the
Internet.
A variety of web-based market
research firms, such as HarrisInteractive.
com, have recently emerged to help firms
test new product concepts in a few days on
the Internet. This is done with a represen-
tative sample of consumers who are
Internet users. HarrisInteractive.com can
provide a geographically diverse, nationally
representative panel of consumers drawn
from its pool of more than 6.2 million
respondents. These customers can be sur-
veyed and their responses can then be
immediately analyzed and reported back to
the client at a reasonable cost.
 Greater Interactive Capabilities
for Customization
The interactivity between buyers and
sellers on the Internet provides the poten-
tial of developing products specifically for a
single customer. Manufacturers of cosmet-
ics, bicycles, eyewear, and other tangible
products are experimenting with this. This
process approaches the age-old tradition of
crafting a product for a specific customer.
What makes the process economically
viable today is flexible manufacturing
equipment that can produce thousands of
items with varying features. For example,
reflect.com, a website that offers custom-
ized personal care products for women, has
proprietary manufacturing equipment that
can produce over 2,000 product options
tailored to specific consumer requests.
Customer interaction with the pro-
ducer through the Internet can also be used
for a variety of information products. For
example, Folio[fn].com uses a system to
create folios, or baskets of stocks, that are
purchased in a single transaction. Any folio
can include anywhere from one to 50 dif-
ferent stocks and you can select a ready-to-
go folio or create your own. You can have
multiple folios and directly own hundreds
of stocks, which can be purchased in a few
transactions as shares of the folio.
One of the challenges of the Internet
in product development has been its limita-
tion in presenting product concepts that
only appeal to the senses of sight and
sound. Several firms are working on desk-
top devices that can deliver smell and taste
sensations. Prototypes of these devices
reveal they will most likely be constructed
as printers, with cartridges that print smells
and tastes. The smells derive from chemical
combinations that are controlled by the
users software. Tastes can be
deposited on a specially treated paper-like
surface, which consumers can lick to expe-
rience the product taste. Naturally, it will
not be possible to mimic all possible sensa-
tions over the Internet, but one can imagine
at least a narrow set of possibilities that will
be of value to some product developers.
Accelerated New Product Launch
Using Viral Marketing Strategies:
How can the Internet help accelerate
customer acceptance of a new product
after launch?
There is some indication that viral
marketing may help give a new product
decent exposure. Viral marketing is devel-
oping a strategy so that a buyer will tell on
average seven friends, who each tell seven
others, and so on. This word-of-mouth
process is usually slow and often hard to
influence. The Internet facilitates building
viral marketing concepts into the product
design.
For example, thePlunge.com is a new
information service that helps customers
plan a wedding, or any other special event.
The site enables you to create a website
for the event, which guests can visit. You
can select a theme for the event and have
invitations electronically sent. Directions
can be made available on your site, as can
photos, etc. Depending on the event theme,
a variety of services may be suggested. The
built-in viral aspect of the product is that
when guests experience the site (because
of invitations, etc.), they can become
potential customers.
What Did We Learn in the Course?
When we examined all we learned at the
end of the course, we recognized two fun-
damental conclusions about product devel-
opment on the Internet: The basic concepts
and processes of business and product
development were not discarded as we
might have expected. In fact, they were
more important than ever because the pace
of business on the Internet is lightning
quick and you must clearly understand and
use these basic concepts and frameworks to
survive.
The second conclusion was that, given
the basics, one had to practice using them.
As one president of a dot.com told us, his
best training for the dot.com world was to
analyze and discuss three business school
cases a day, five days a week.
We know there are many more things
to learn about how the Internet could be
used to help develop new products and
services. At the conclusion of the course,
we all felt we would continue to learn
about this topic for a long time. We are at
the beginning of a genuine revolution that
can result in better meeting the needs of
consumers and society.
Professor Robert Thomas
teaches
marketing
at Georgetowns
McDonough School
of Business.
Spring / Summer 2000 17
 RESEARCH AND ACTIVITIES
Faculty
Professor Paul Almeida is president of the
International Federation of Professional and
Technical Engineers and co-chair
of a task force to address issues of morale
and quality raised by the Society of
Professional Engineering Employees in
Aerospace. Almeida and Professor James
Angel, received best professor awards from
the Executive Certificate Programs in
fall 1999.
As a visiting academic fellow at the
National Association of Securities Dealers
(NASD), Professor James Angel is
researching the trading of NASDAQ mar-
ket makers and volatility in NASDAQ
markets. This year, he presented On
Changing Structures in Securities Markets
at a conference at the London School of
Economics and Ways of Improving
Liquidity for Small Capitalization Stock
Markets at BOLCEN 2000 in Panama. In
June, he presented The Relationship
between Exchanges and OTC Trading
Platforms in the United States at a confer-
ence organized by Deutsche-Borse A.G. in
Frankfurt.
Professor Alan Andreasen published
Social Marketing Has a New Champion,
with Rob Gould (vice president, Porter
Novelli) and Karen Gutierrez (former
Procter and Gamble marketing executive),
in Advertising Age, February 7, 2000. His
book, Ethics in Social Marketing, is forth-
coming this year. He published a chapter,
Strategic Marketing for Non-Profit
Organizations, with Philip Kotler
(Northwestern University), in Marketing
Theory: A Student Text and in The Inter-
national Encyclopedia of Business and
Management. He received a grant for
18 The McDonough School of Business
$25,000 from the Rockefeller Foundation
to study social marketing in the developing
world. The Aspen Foundation awarded
him a fellowship of $1,500 to attend the
Boston College Center for Corporate
Community Relations 2000 International
Leaders Conference, in March.
Georgetown University and
Andreasens Social Marketing Institute con-
vened the first-ever Non-Profit Marketing
Summit, in Florida in March.
Visiting professor Lehman Benson III
published The Effects of Regret in Pre-
choice Screening in volume 78 of
Organizational Behavior and Human
Decision Processes, with L. D. Ordez and
L. R. Beach, both at the University of
Arizonas Eller School of Business. His
research on stress and time management
was featured in Mind, Body, and Soul in
Black Enterprise August 1999.
Professor Robert Biess article, How
Employees Respond to Personal Offense:
The Effects of Blame Attribution, Victim
Status, and Offender Status on Revenge
and Reconciliation in the Workplace, is
forthcoming in the Journal of Applied
Psychology. His co-authors are Karl Aquino
(College of Business and Economics,
University of Delaware) and Tom Tripp
(College of Business and Economics,
Washington State University). He co-
authored, with Roy Lewicki (Fisher
College of Business, Ohio State University)
and Blair Sheppard (Fuqua School of
Business, Duke University), Research on
Negotiation in Organizations, Volume 7. His
chapter Interactional (In)justice: The
Sacred and the Profane will appear this
year in Advances in Organizational Behavior,
edited by J. Greenberg (Fisher College of
Business, Ohio State University) and R.
Cropanzano (Department of Psychology,
Colorado State University). With Tom
Tripp, Bies co-authored A Passion for
Justice: The Rationality and Morality of
Revenge, which will appear as a chapter in
Justice in the Workplace, Volume II.
The Council of Independent Colleges
awarded professor of management Rev.
William Byron the 1999 Academic
Leadership Award for his work in assisting
chief academic officers.
Professor Michael Czinkotas most
recent book, Japanese Distribution Strategy,
with Masaaki Kotabe (Washburn Chair of
International Business, Temple University)
was published this year. His article, The
Policy Gap in International Marketing
appeared in the February issue of Journal of
International Marketing.
In 1999, Visiting Professor Lynn
Doran published Market-Making in the
Third Market for NYSE-Listed Securities
in volume 1 of The Financial Review.
William Droms, Powers Professor of
Finance, and David Walker, Largay
Professor of Finance, will publish
Persistence of Mutual Fund Operating
Characteristics in the next issue of Applied
Financial Economics. Droms also published
a paper on investment asset allocation for
retirement planning in the January 1999
issue of the Journal of Accountancy.
Professor Patricia Fairfield has a
one-year academic fellow appointment at
the Securities and Exchange Commission
(SEC).
 In May Professor Ron Goodstein pre-
sented Visual Relatedness: The Effect of
Matching an Ads Visual Theme with Its
Context, at the Society for Consumer
Psychologys annual conference. Goodsteins
article, Developing Customer Focus
Across Multiple Constituencies, will
appear in Advances in the Study of
Entrepreneurship, Innovation, and Economic
Growth, edited by G. Libecap (University
of Arizona).
In 1999, Professor Catherine Langlois
co-authored two articles, Behavioral Issues
of Rationality in International Interaction:
A Game Theoretic Analysis and
Behavioral Issues of Rationality in
International Interaction: An Empirical
Appraisal with Jean-Pierre Langlois in vol-
ume 43 (issues 5 and 6) of the Journal
of Conflict Resolution. She will review
Stanford Business School Professor David
Kreps new text, Microeconomics for
Managers. She presented Engineering
Cooperation: A Game Theoretic Analysis
of Phased International Agreements at the
Western Economic Association meeting in
July 1999.
Professor Douglas McCabe serves on
the editorial review boards of 18 academic
and professional journals in business, man-
agement, and labor relations, including
Research in Ethical Issues in Organizations,
Employee Responsibilities and Rights Journal,
and Journal of Individual Employment
Rights. He published Global Labor and
Worksite Standards: A Strategic
Ethical Analysis of Shareholder Employee
Relations Resolutions this year in volume
23 of the Journal of Business Ethics.
Professor Marcia Miceli published
Consequences of Satisfaction with Pay
Systems: Two Field Studies, with P. W.
Mulvey (College of Management, North
Carolina State University), in volume 39 of
Industrial Relations. Contextual
Determinants of Variable Pay Plan Design:
A Proposed Research Framework,
co-authored with R. L. Heneman
(Fisher College of Business, Ohio State
University), is forthcoming in Human
Resource Management Review. She present-
ed, Consequences of Health Care Benefit
Satisfaction: The Mediating Role of
Perceived Organizational Support,
co-authored with P. W. Mulvey and C.
Dawkins (College of Communications,
Ohio University) this year at the annual
meeting of the Society for Industrial and
Organizational Psychology.
Professor J. Keith Ords Analysis of a
Dual Sourcing Inventory Model with
Normal Unit Demand and Erlang Mixture
Lead Times, coauthored with D. K. H.
Fong (Smeal College of Business
Administration, Pennsylvania State
University) and V. M. Gempesaw (formerly
at Smeal) will appear this year in volume
120 of the European Journal of Operational
Research.
Professor Lamar Reinsch is currently
serving one year as president of the
Association for Business Communication
(ABC). ABC publishes Journal of Business
Communication and Business Communication
Quarterly.
Professor Craig Smiths Ethical
Guidelines for Marketing Practice is forth-
coming in the Journal of Business Ethics. His
chapter, The Social Control of Corporate
Criminals, co-authored with Sally
Simpson and M. L. Exum, both with the
criminology department at the University
of Maryland, appears in Of Crime and
Criminality. Smith also has two book chap-
ters forthcoming: Social Marketing and
Social Contracts appears in Ethics in Social
Marketing; Changes in Corporate
Practices in Response to Public Interest
Advocacy and Actions appears in
Handbook of Marketing and Society, edited
by Paul N. Bloom (Kenan-Flagler School
of Business, University of North Carolina)
and Gregory T. Gundlach (University of
Notre Dame School of Business).
Professor Ed Soules David Hume
and Economic Policy appears this sum-
mer in volume 26 of Hume Studies. He
presented Environmental Regulation:
Spring / Summer 2000 19
 RESEARCH AND ACTIVITIES
Faculty
The Precautionary Principle and
Agricultural Genetically Modified
Organisms, at the annual meeting of the
International Association of Business and
Society in March 2000.
Professor Michael E. Staten published
Monitoring the Household Sector with
Aggregate Credit Bureau Data, in Business
Economics, January 2000, with John M.
Barron (Krannert Graduate School of
Management, Purdue University) and
Gregory Elliehausen (Georgetown). Staten
published Debit, Credit or Cash: Survey
Evidence on Gasoline Purchases in vol-
ume 51 of Journal of Economics and Business
with Kenneth A. Carow (Kelley School of
Business, Indiana University). He provided
testimony on student credit card use before
the Virginia General Assembly in
December 1999. He also provided testimo-
ny on consumer privacy before the
California State Assembly in April 2000.
Staten gave the keynote address, The
Value of Comprehensive Credit Reports:
Lessons from the U.S. Experience, co-
authored with John M. Barron, at the
Australian Retail Finance Conference in
February 2000.
20 The McDonough School of Business
Professor Cathy Tinsley published
Adopting a Dual Lens Approach for
Examining the Dilemma of Differences
in International Business Negotiations,
in volume 4 of International Negotiation
in 1999.
David Walker, director of the
McDonough Schools Capital Markets
Research Center, is past president of the
Financial Management Association
(FMA), and continues to serve on its vari-
ous boards. Reena Aggarwal has complet-
ed her term as member of the FMA board.
Dick Sweeney was U.S. chair of the FMA
Europe 2000 conference held in
Edinburgh, Scotland, in May. McDonough
School professors Reena Aggarwal, Jim
Bodurtha, Sandeep Dahiya, Allan
Eberhart, Lee Pinkowitz, Akhtar Siddique,
and Rohan Williamson, who served on the
FMA Europe 2000 committee, reviewed
the more than 225 papers submitted for
the conference.
Professor Bennet A. Zelner will pub-
lish Political Risk and Infrastructure
Investment, with Witold J. Henisz
(University of Pennsylvanias Wharton
School of Business), in a forthcoming book
to be published by the World Bank. He
presented Political Constraints, Interest
Group Competition and Infrastructure
Investment in the Electric Utility Industry:
A Cross-National Study, co-authored with
Henisz, at the Strategy Research Forum in
Massachusetts, at the International Centre
for the Study of East Asian Development
(ICSEAD) Japan, at the World Bank,
Washington, D.C., and at the annual meet-
ing of the Academy of Management this
year. He received an ICSEAD grant to
conduct interviews with Asian managers
and officials as part of a project examining
the effect of political risk on infrastructure
investment by independent power produc-
ers. Zelner also chaired a panel
International Financial Institutions and
Domestic Structures at the Midwestern
Political Science Association annual meet-
ing.
Professor Laszlo Zsolnai, Connelly
Visiting Scholar, spoke on Responsibility
and Choice: Decision Making in Multiple
Values Perspective, at the Connelly
Programs spring lecture series, March 24.
Curriculum Revisions Make Undergraduate
Business Major More Rigorous, Relevant
ince his arrival at Georgetown in
S 1998, McDonough Dean
Christopher Puto has looked at all
the business schools key programs to see
how they stood in comparison to top-
ranked business schools and to see how we
can position the school as a leader in man-
agement education.
As a result, several changes to the
undergraduate business curriculum are
underway. During the last year, a task force
comprised of faculty, staff, students, parents
and recent alumni met to gather data from
alumni, students, employers and other
schools and work on a proposal to revise
the curriculum. This spring, the Executive
Council of Georgetowns McDonough
School voted to implement the task forces
proposal.
Under the plan, two new majors are
scheduled to be offered in the 2002-3 aca-
demic year, in strategy and in decision sci-
ences/operations. The latter will have a
technological focus. Were not creating an
e-commerce major, Puto said. The focus
is on business concepts that drive e-com-
merce, and preparing students for a more
technology-focused workplace.
The strategy major will prepare stu-
dents to assemble all the resources of a
business enterprise to maximize its com-
petitive position and achieve its goals. The
business schools current strategy course for
seniors now will be opened to juniors, and,
over the next 12-18 months, new electives
will be added.
Another innovation, which received
preliminary approval pending an imple-
mentation study, is a writing-intensive,
first-year seminar. Instead of taking inter-
national business in large sections of 45 to
50 students, freshmen will take a seminar
with a maximum size of 20 students.
The seminar is designed to make fresh-
men cognizant of global business issues,
Professor Marlene Morris teaches McDonough undergraduates.
Small seminars are part of the curriculum revisions.
and concentrates on conceptual thinking
and written and oral communication
skills, Puto explained.
The goal is to implement the seminars
by fall 2002, either as a pilot project or
fully-approved program. During the inter-
im, faculty will plan the seminar program
and Dean Puto will be seeking the addi-
tional resource requirements. The semi-
nars require a great deal of work, by the
students and by the faculty, noted Puto.
To maintain small seminars, we must find
additional resources for more faculty.
Roger Gill (B02), who is one of two
students on the curriculum committee, said
the new majors and the seminar program
show the McDonough School is adapting
to the outside world. Were not staying sta-
tus quo.
Some additional curriculum changes
that will take place immediately include
consolidating quantitative course work to
allow students to enroll in more liberal arts
courses. Under the task forces proposal, no
more than 50 percent of a students courses
will be in business. The liberal arts sharp-
en students critical thinking skills, and
strengthen their ability to integrate knowl-
edge, said Puto. We are encourag-
ing business students to avail themselves of
this opportunity.
Although some students already par-
ticipate in business-related public service
opportunities, the new curriculum will for-
malize that program. For example, several
Georgetown students teach courses on
business management to students in D.C.
elementary schools and help lower-income
groups prepare their tax returns. Under the
new curriculum, they can earn academic
credit for such service.
An advanced research program for
undergraduates will also be established,
allowing qualified business majors to work
with professors on research projects.
Roger Gill said the curriculum
changes will increase the value of my
degree. Over time, he added, the improve-
ments will help Georgetown students suc-
ceed in the changing workplace.
The net result, Dean Puto said, is
that we have a curriculum and an approach
to educating our business students that
is geared to the 21st century. Georgetown
alumni have a tradition of successful
achievement. Our goal is to enhance
those prospects for future alumni.
Susan Crites Price
Spring / Summer 2000 21
 McDonough Student Scholarships and Awards
Undergraduates Win AAF
Advertising Competition
A team of eleven Georgetown
McDonough Schools undergraduate
seniors beat 19 teams to win the American
Advertising Federations (AAF) District 2
student advertising competition in April.
The District 2 competition draws schools
from the East Coast. Some teams have 50
advertising majors and spend two semesters
on the project, says team member Bindu
Vaswani (B00).
The competition challenges advertis-
ing classes across the country to create a
marketing plan for a client. This years
client, the New York Times, wanted to
develop a readership among 18- to 24-
year-olds. The Georgetown team personi-
fied the Times as a companion for life,
with a campaign slogan of Have you met
the New York Times?
The team members were enrolled in an
advertising course, Advertising Campaign
Planning. In January, students began
Georgetown McDonough AAF team with the AAF regional trophy.
22 The McDonough School of Business
to develop a plans book, which included a
creative strategy, ad campaign, and alloca-
tion of an annual $6 million budget.
The class had total ownership of the
project, says course professor Maria
Ivancin. Everyone contributed and did so
in their own way.
Teams were evaluated 50 percent on
their plans book, and 50 percent on a 20-
minute presentation and 10-minute ques-
tion-and-answer session before a panel of
judges.
Other team members included Nicole
Adams, Kelli Chester, Jennifer Cortese,
Meredith DelBello, Tessa DeFlines, Adriel
Estrada, Kate McCue, Bill Mosher, Joseph
Saucedo, and Uma Sud.
For the next year, the regional AAF
trophy will be housed at Georgetown.
Were very proud of our win, says Paulter said her most important factors in
Vaswani, and were looking forward to selecting employment are creativity, pas-
national. The Georgetown team will go up
against 14 other districts at the national
finals, which are held this June during the
annual AAF conference in Las Vegas.
Industry Standard Picks Paulter As
Runner-Up in its annual MBA Draft
L isa Pautler (MBA00) was selected as a
runner-up in The Industry Standards
annual MBA Draft. The Standard, a lead-
ing Internet publication, looks for graduat-
ing MBAs who want to work in the high-
tech arena and are still seeking employ-
ment. With the help of some of the
nations top new-media recruiting firms,
the Standard selects five MBAs and five
runners-up in its prestigious competi-
tion.
The Standards criteria? MBAs who
have the right mix of accomplishment,
Internet experience, and a damn good
story to tell, writes Standard reporter
Mickey Butts.
In an interview with the Standard,
sion, ability to change strategically, and a
stocked fridge. In the meantime, Paulter
is doing freelance consulting for Barcardi,
Ltd. She is interviewing in Los Angeles,
and her goal is to work in Internet market-
ing management for entertainment, new
media, or advertising.
Second-Year MBA Wins AAUW
Fellowship
T he American Association of University
Women (AAUW) has awarded Julia
Karki (MBA01) a Selected Professions
Fellowship to complete her MBA. The fel-
lowship is given to women in non-tradi-
tional fields such as business or engineer-
ing who are in their last year of study.
Karki was one of 39 recipients selected for
the award out of a total of 250 applicants.
 Criteria for selection include academ-
ic, professional and personal achievement,
including potential as a role model in an
innovative or non-traditional area of
research, and intent to contribute to the
professional advancement of women.
Karki, who worked at the World
Wildlife Fund before graduate school
hopes to consult for educational institu-
tions or e-commerce education markets.
MBAs Win Regional National
Venture Capital Investment
Competition
A team of second-year Georgetown
MBAs won the third annual Mid-
Atlantic/Southeast Regional National
Venture Capital Investment Competition,
which ran February 17 19, 2000.
The competition was hosted by the
University of Marylands Robert H. Smith
School of Business. Mike Dupee
( JD/MBA), Kathleen Parnell, Mark
Russell, Oak Strawbridge, and Will
Thierbach were the first Georgetown team
to participate in the competition. Smith T.
Wood, an adjunct professor of entrepre-
neurship at Georgetown and one-time
board member of Allied Capital
Corporation, served as the teams faculty
advisor.
The team acted as a hypothetical ven-
ture capital fund and considered five real
business plans from local start-up compa-
nies seeking venture funding. After review-
ing the business plans and interviewing the
management of each company, each team
proposed investments based on real venture
capital funding criteria, presented their rec-
ommendations to a panel of judges and
defended their proposed investments.
The Georgetown team took home
a cash award of $3,000. Georgetown has
a first-class entrepreneurship program,
says Strawbridge. This shows that the
interest level in venture capital is high and
that we have the capability. Strawbridge
and Will Thierbach were recently hired
as first associates by the Grosvenor Fund.
Were excited because venture capital is
the hardest business to get into out of busi-
ness school, says Strawbridge. This is a
major testament to how impressed
the venture capital arena in D.C. is with
the competition.
Beta Gamma Sigma Inducts
Seventeenth Class
B eta Gamma Sigma, the national
scholastic honor society in business,
inducted its seventeenth class of business
students at the Leavey Center May 4.
Fifty-one MBAs in the top 20 percent
of their class were inducted. The top 10
percent of the senior class and top seven
percent of the junior class 44 under-
graduates were inducted.
McDonough School Wins
Teaching Award
The National Foundation for Teaching
Entrepreneurship (NFTE), an internation-
al non-profit that introduces low income
and at-risk young people to the world of
business and entrepreneurship, awarded
Georgetowns McDonough School its
Entrepreneurship Education Award March
29 in New York City.
The McDonough School is hosting
trainings for high school teachers and
youth workers who receive graduate credit
through NFTEs university teacher certifi-
cation program. We are fortunate to have
an incredible partnership with one of the
top universities in the country, said Steve
Mariotti, NFTE chief executive officer.
Approximately 60 teachers and youth
workers will participate in the certification
program this year, the second year of
NFTEs five-year partnership with
Georgetowns McDonough School. Thirty-
eight people were trained in 1999.
With each teacher touching 100 or
more young lives each year, thousands of
youth will benefit, said Julia Kantor, divi-
sional director of NFTEs Washington
office.
Spring / Summer 2000 23
 Dividends
This spring, commitments to the McDonough school have flourished, with financial aid and a new facility remaining popular areas
with donors, and the MBA Minority Fellowship Program gaining momentum with a commitment from Levi Strauss and Company.
Senior Executives of Top Companies Establish
McDonough School Scholarship Funds
When Lance L. Weaver (B76), senior vice chairman of
MBNA America Bank (MBNA), chose to attend
Georgetown, the decision was easy from an academic perspec-
tive. It did, however, pose a financial challenge for his family.
Weaver recently made a $500,000 commitment, matched
with $500,000 from MBNA, to the McDonough School of
Business to provide $1 million in financial assistance to stu-
dents.
I feel fortunate to be in a position to make this contribu-
tion, especially because I know that attending Georgetown
helped shape the person I am today, Weaver says. The schol-
arship will provide talented students who are economically dis-
advantaged the opportunity to attend a terrific university.
Weaver is building on a strong relationship with his alma
mater. He helped secure $2 million in MBNA funds to enlarge
and relocate the MBNA Career Education Center. He is a
member of the Third Century Campaign Steering Committee,
the Georgetown University Board of Regents, and is a mem-
ber of the GU Delaware Alumni Club, which he was instru-
mental in forming.
John D. Bowlin (B72) and his brother Robert (B75)
pledged $250,000 for financial aid in honor of their parents,
Laurian and Jack Bowlin. John Bowlin is on Georgetowns
McDonough School Board of Advisors and is CEO of Miller
Brewing in Milwaukee. Robert is president of Sony Music
International.
Our parents gave us the opportunity to get a great educa-
tion, says John Bowlin. What better way to honor them than
helping someone else?
24 The McDonough School of Business
McDonough School BOA Members
Make Commitment To New Facility, Car Barn
Peter N. Crnkovich (B78) joins several members of the
McDonough Schools Board of Advisors (BOA) in making a
$100,000 commitment to the new McDonough School facili-
ty, which will house undergraduate, graduate, and executive
education programs.
I wanted to give something back to the school, says
Crnkovich. I think an appropriate home for the business
school will create and foster a more conducive work environ-
ment for students and faculty.
Crnkovich is managing director at Morgan Stanley Dean
Witter & Co. in New York.
Board of Advisor member Paul Hill (B67), president of
Harvard Developments, Inc., directed $100,000 toward the
MBA facility in the Car Barn, which opened September 1999.
The Graduate Admissions Office has been named in recogni-
tion of the gift from the Paul and Carol Hill Foundation.
Levi Strauss & Co. Awards Grant to
Minority Fellowship Program
Levi Strauss & Co. has given a grant of $50,000 to the MBA
Minority Fellowship Program.
The School of Business has done an outstanding job of
reaching out to the minority community, says Philip
Marineau (C68), president of Levi Strauss & Co. and
McDonough BOA member. As we struggle to attract and
retain a diverse work force, efforts such as these are critical in
meeting our long-term human capital needs.
The grant will be used to fund two students for one year.
The MBA Minority Fellowship Program aims to increase the
percent of minority enrollments, and create a critical mass of
diverse leaders to meet the needs of business.
In the Media

FACULTY ALUMNI

Professor Sandeep Dahiyas research on the value of Baby Bell stock The May 22 Financial Times noted that the entrepreneurial

holdings following the Bells split from AT&T was featured in the May efforts of five Georgetown McDonough School M.B.A. graduates

29, 2000 issue of Fortune (Herb Greenberg) and in the June 8, 2000 edi- have subsequently exceeded their wildest expectations. The Times

tion of the Atlanta Journal-Constitution. His research on tobacco litiga- article profiled two startups from the Class of 1998: headlight.com,

tion and its effect on stock price was profiled in the April 11-24, 2000 an on-line training site started by Peter Mellen and Scott Mitic, and

issue of MBA Bulletpoint. Pangea, an optical fibre cable company founded by Christian Jepsen,

Matt Carlson and Stephanie Adams.

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

taken to extremes and that people can be hurt. People can be Wendy Moe (MBA96), doctoral candidate at the University of

caught in an article on revenge in the April 18, 2000 edition of the Pennsylvanias Wharton School, was featured in the March 27, 2000

Seattle Times (Kim Barker). edition of the Financial Times (Alison Beard), as a member of one of

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

USA Today (James Cox) quoted Professor Paul Almeida in a March
tition sponsored by Hummer Winblad Venture Partners to award ven-
27, 2000, article, Bevy of Deals Bring Businesses Together Online.
ture capital funding to students. The competition attracted over 200
Almost everybody is going to be simultaneously competing and coop-
business plan submissions.
erating with someone else in the same industry, said Almeida.

Visiting professor Betsy Sigman was quoted in the February 17,

2000 edition of El Mercurio (Carlos Ahumada), Chiles largest national

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

primaries in the United States.

Its going to be on all of our students desktops, said John

Carpenter, Georgetowns McDonough School information technology

director, of Microsofts Windows 2000 in the February 11, 2000 edition

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

good, bad, or ugly.

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

ization of U.S. stock market, noted that Americans dont have a repu-

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

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

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

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

1999.

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

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

web sites.

Spring / Summer 2000 25

 Administrative Appointments
rom curriculum to careers, from
F corporate education to develop-
ment, new leadership in key roles
at Georgetowns McDonough School
reflect the schools commitment to prepar-
ing students for lifelong learning and
improving programs to attract students,
alumni, recruiters, corporations and
friends willing to invest in the school and
benefit from its advancement.
Joseph Mazzola is the new chair of
the Graduate Curriculum and Standards
Committee. Appointed in February,
Mazzola oversees a committee comprised
of six faculty and two students, and is
charged with establishing policy for the
MBA, executive MBA and executive edu-
cation programs, as well as standards
involving grading and conduct.
Our goal is to become an interna-
tionally recognized top MBA program,
says Mazzola. We clearly want to be
ranked among the top 20 and dont want
to stop there. He comes to this position
with experience: In the early 1990s, he
chaired the MBA curriculum committee
at Duke Universitys Fuqua School as the
school moved into the ranks of top-tier
business schools.
Mazzola, who teaches operations
management, left Duke to join
Georgetowns McDonough faculty in
August 1999.
26 The McDonough School of Business
Joseph Mazzola
Lisa Kaminski, assistant dean and
director of the international executive
MBA program was named acting director
of executive education in February.
Kaminski, who came to Georgetown last
fall, was director of special executive pro-
grams at the Massachusetts Institute of
Technologys (MIT) Sloan School of
Business. At Sloan, Kaminski increased
revenues by $1.2 million, increased the
number of students in programs by 61
percent and the number of custom courses
by 40 percent.
She believes that in order to success-
fully lead businesses in the new economy,
executives need to be taught new thinking
skills to approach problem-solving and
deliver results in this new knowledge-
based economy.
Executive education programming
must be linked to the challenges facing
business men and women as they con-
stantly reinvent and reshape their busi-
nesses, says Kaminski. Organizations
invest in executive education just as they
make other capital investments to plan
for their future growth.
Lisa Kaminski
Director of Development Elise Mull-
aney understands the concept of return on
investment. Appointed on March 1, Mul-
laney believes that donors are not simply giving
money. Theyre making an investment in the
future of the school, she says.
She will focus on leadership commit-
ments to the McDonough School of
Business in the Third Century campaign
and, in doing so, plans to advance the
schools strategic priorities, including the
new business school facility, faculty chairs
and funds for technology.
Im encouraged that this campaign
will strengthen the teaching, learning, and
research environment here at the business
school, she says. More than ever, the
McDonough School of Business depends
for its continued vitality on the confidence,
commitment and generous involvement
of its alumni, parents and friends.
Elise Mullaney
Mullaney was most recently with
Georgetown College, where she was assis-
tant director of development and secured
commitments for campaign priorities in the
arts and sciences.
She has over ten years of development
experience, mostly at Harvard, with stints at
the University of Pennsylvania Medical
Center and Carnegie Mellon University.
Darnelle Hoose is acting director of
the MBA career management (MBACM)
office since the departure of MBACM
assistant dean and director Jackie Wilbur in
April. A national search is underway to fill
the position. Hoose was previously a
MBACM associate director.
Next years on-campus recruitment is
directly proportional to critical marketing
efforts performed in the next three
months, notes Hoose. We are working
closely with students, alumni, and corporate
affiliates to develop a marketing plan and to
revise our marketing literature and web
pages. Im also committed to maintaining
and improving the activities and programs
established by the prior director.
Darnelle Hoose
A Phi Beta Kappa graduate of the
College of William and Mary and an MBA
with a concentration in marketing, Hoose
has more than 20 years of experience in
information technology and MBA career
management.
Georgetowns Jacqueline Wilbur, assis-
tant dean and director of MBA career man-
agement for six years, has been named the
director of career management at MITs
Sloan School of Management.
During her tenure, Wilbur increased
the number of firms recruiting on campus
more than 80 percent and created the on-
campus recruitment program. She was also
responsible for starting the annual careers
extravaganza and the employer of the year
ceremony. She oversaw the career develop-
ment activities of more than 20 student
clubs, ultimately working with more than
500 MBA students, 50 IEMBA students,
and 2,000 MBA alumni.
Jacqueline Wilbur
She served as president of the MBA
Career Services Council (MBACSC) for
two years. She has been co-chair of
MBACSCs employment reporting stan-
dards committee since 1994 and has seen
the adoption of those standards across the
industry and in the popular media.
Under Jackies leadership, MBACM
earned a respected position among elite
MBA programs worldwide, and has played
a key role in strengthening the position of
the MBA program, notes associate dean of
graduate programs Larry Abeln, who previ-
ously worked at MITs Sloan School.
I feel very lucky to have had the
opportunity to work at Georgetown, says
Wilbur. The business school is a special
place that I will miss for a long time.
Spring / Summer 2000 27
 MBAs Master Business Abroad

This spring, 2nd-year MBAs were the first London, England

McDonough students to travel to London, Buenos
Aires, Hong Kong and New Delhi as part of the
new graduate curriculums required international
integrative session.
The foreign residency is the capstone of
Number of MBAs on projects: 70
Twelve companies sponsored projects,
including the British Treasury, Piaggio,
Royal Dutch Shell, and Egg.com.

three-months of study. Students select a consult-

ing-style project based in an organization in one

of the four countries, prepare industry analyses,

and study business and cultural issues pertinent

to the organizations home country. Buenos Aires, Argentina

Once on the in-country residency, MBAs
Number of MBAs on projects: 70
present their results to the sponsoring organiza-
Eleven companies sponsored projects,
tion. Students completed projects in new product
including Camuzzi Gas, Lehman Brothers
development, marketing, strategy, trade, finance,
and Lockheed Martin.
and logistics for companies such as the Delhi and

Hong Kong stock exchanges, Sprint, Royal Dutch

Shell, and DaimlerChrysler.

The overseas integrative is a distinguish-

ing hallmark of the MBA program. The New York

Hong Kong, China

Times recently featured the McDonough Schools Number of MBAs on projects: 69

overseas experience as one of only three graduate Eleven companies sponsored projects,

business programs in the United States that including the U.S.-China Business

requires international study. For MBA[s]...the Council, the Healthy Back Store, the

essential new tool is no longer...the fastest lap- Calvert Group, the Hong Kong Stock

top, noted the Times. Its a passport. Exchange and the Hong Kong Tourist

Association.

Delhi, India

Number of MBAs on projects: 38

Seven companies sponsored projects,

including the Delhi Stock Exchange,

PG Softech and Sprint.

Photo credits: Tobin Richardson, Antonio Del Rosal,

Dale Tzeng, Amir Vellani (all MBA00)

28 The McDonough School of Business

 MBAs at Egg.com offices, London

MBAs in London MBAs outside stock exchange, China

PostScript Picture
spring.ctp

Professor Ricardo Ernst with MBAs at the Institut de Altos Estudios MBAs at Varanasi University, India
Empresaiales, Argentina

MBAs at the Lee Kum Kee oyster sauce plant, China

MBA Admissions Recruiting Schedule

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

in the following locations. For more information, call the MBA office at 202.687.4200 or e-mail mba@msb.edu.

SEPTEMBER 2000 NOVEMBER 2000

September 10 Cairo, Egypt November 1 Toronto, Canada

September 12 Mexico City, Mexico November 4 Vancouver, Canada

September 14 Aman, Jordan November 6 Seattle, Washington

September 16 Dubai, United Arab Emirates November 7 Tokyo, Japan

Buenos Aires, Argentina November 9 Seoul, Korea

September 18 Sao Paolo, Brazil November 10 Los Angeles, California

September 19 Istanbul, Turkey November 11 Shanghai, China

September 20 Ankara, Turkey November 14 Hong Kong, China

September 21 Athens, Greece November 15 Washington, D.C.

November 18 Boston, Massachusetts

November 20 Atlanta, Georgia

November 22 New York City

OCTOBER 2000 November 22 New York City

October 3 Manchester, England

October 5 London, England

October 7 Paris, France

October 10 Boston, Massachusetts

JANUARY 2001
Madrid, Spain January 29 Tokyo, Japan

October 12 Milan, Italy January 31 Seoul, Korea

October 14 Washington, D.C.

Frankfurt, Germany

Caracas, Venezuela

October 16 Munich, Germany

FEBRUARY 2001
Milan, Italy February 2 Taipei, Taiwan

October 17 Zurich, Switzerland February 5 Manila, Philippines

Dallas, Texas February 8 Bangkok, Thailand

October 18 Vienna, Austria February 10 Singapore, Malaysia

Warsaw, Poland February 12 Jakarta, Indonesia

Sao Paolo, Brazil

October 19 Los Angeles, California

October 20 Buenos Aires, Argentina

October 21 Mexico City, Mexico

Moscow, Russia

October 23 Santiago, Chile

October 24 San Francisco, California

October 25 Lima, Peru

October 27 Chicago, Illinois

October 28 Mexico City, Mexico

October 31 Toronto, Canada

 Alumni NOTES
UNDERGRADUATE
1976
James F.X. Payne joined Qwest
Communications International Inc.
as vice president for government
markets in August 1999.
1977
Christopher Chaconas and his
wife Fada live in Reston, Va.
Christopher was recently promoted
to general manager of Alcatel ITS.
1986
Joe Carbonara and his wife
Laurie recently moved to
Jacksonville, Fla., where he is con-
troller for the LandMar Group.
Bill McMahon and his wife
Barbara (F84) reside in Wellesley,
Mass. Bill is chief executive officer
of Decorative Concepts, one of the
nations leading gift wholesalers.
1990
Brian Newton has been appoint-
ed as vice president of finance at
Hitplay Media, a Los Angeles,
Calif., next-generation entertain-
ment video delivery
network company.
We encourage all business
school alumni undergraduate,
MBA, and executive MBA,
to send us class notes. Please
contact Elizabeth Shine at
202.687.4080, if you would
like to become a class agent.
To send notes, please call, fax
them to 202.687.2017, or e-mail
the notes to SHINEE@gunet.
georgetown.edu.
MBA
1989
The Class of 1989 is soliciting
a new class agent. Please contact
Elizabeth Shine at shinee@gunet.
georgetown.edu if interested.
Michael Havard, wife Judy, son
Jack, and cat Gus, reside in New
Canaan, Conn. He has recently
joined Newmans Own, as vice
president, marketing and public
relations. Mike welcomes your cor-
respondence at mhavard@
newmansown.com.
1990
Class agent: Lorraine Herr
cmputrilit@aol.com
Dave Burke writes that Shelia
Colgan was hired by The St. Paul
Companies in London, England.
Scott Handel and his wife Kim,
are living in Maryland with
their two daughters, Allison and
Juliana. Kim and Scott recently
celebrated their 13-year wedding
anniversary, as well as Scotts
10-year anniversary with his
accounting firm.
Bill Kummel is now founding an
e-commerce business. Its all very
hush hush. When I pressed Bill
for details about his business plan,
I believe he said it was all double
secret probation. Bill spent New
Years in Amsterdam.
C. Whitney Mandel recently
joined a consulting practice in
the Washington, D.C. area and
enjoys his work immensely. His
Jack Russell terrier, Bungy, is doing
well.
Roland Monger moved to Palo
Alto, Calif., to run Early Bird
Venture Capitals North American
operations.
Kitty Swenson and her husband
have two daughters 5-year-old
Scout and 2-year-old Saraand
are living in Salt Lake City, Utah.
Kitty also works full-time at
Wasatch Advisors, a money man-
agement firm, where shes been for
the previous eight years.
Eileen Utter continues to work in
San Francisco, Calif., at Charles
Schwab.
Jason Wu and his wife Jackie
send their regards. Jason continues
to work for Coca-Cola Beverages
in Shanghai, China.
1991
Class Agent: Mary Pat Blaylock
mpblay@hotmail.com
John Prescott works at PCSI, an
Internet development/consulting
company in New Jersey.
Neville Waters is marketing
director for the D.C. Sports and
Entertainment Commission.
Paula Cameron is the director
of marketing at Universal Studios
Home Video, near San Francisco,
Calif. She recently saw Rob
DeOcampo at the Orange
County Wine Festival. Rob
works at William Hill winery.
Spring / Summer 2000 31
 Alumni NOTES
1992
The Class of 1992 is soliciting
a new class agent. Please contact
Elizabeth Shine at shinee@gunet.
georgetown.edu if interested.
1993
Class agent: Jordan ONeill
jordan@chevychasebank.com.
Genevieve Needham was mar-
ried on July 17, 1999 to
Christopher Roberts. Fellow class-
mate Elizabeth Zucker was in
her bridal party and Rebecca
Osborne attended. Genevieve is
human resources site manager at
Capital One Financial Services in
Dallas, Texas.
1994
Class agent: David Gee
david.gee@sun.com
It seems that there has been a flur-
ry of activity, job changing and
procreation amongst our peers. But
first, a note of thanks to Eric
Saucedo and Jennifer Anthony
who have created an e-mail distri-
bution list for our class. If you did-
nt get any e-mail from me, Eric or
Jen, then please drop me a note
and well add you to the list. You
can reach me at david.gee@sun.com
If anyone is coming out to the Bay
Area and Silicon Valley, please get
in touch. David.
Jennifer Anthony had her sec-
ond child, a son named Toby, on
April 25, 2000.
Sue Benveniste is still at Mars,
her original post-MBA job and is
now the senior marketing director
on the Skittles brand. She just
returned from a commercial shoot
in New Zealand, where she also
bungy-jumped off a 43-meter-
high bridge.
32 The McDonough School of Business
Simon Black is back to his entre-
preneurial roots as the founder of
n-circle, a London-based market-
ing dot.com.
Robyn Cox had a boy, Colter, on
April 15, 2000.
Meredith Draycott is back in
Brussels with Citigroup, working
in the consumer bank for their
credit director. She covers the
EMEA (Europe, Middle East and
Africa). She has also successfully
fought Hodgkins disease and con-
tinues to bump into random class-
mates in various European cities.
We all wish her well and contin-
ued good health.
Bob Deily and wife Mary-Ellen
had their first son, Matthew
Phelps Deily, on January 13, 2000.
In the last four months, their
household has become a little
more active.
David Gee (david.gee@sun.com),
and his wife celebrated the arrival
of their baby girl, Nathalie
Shoshana Gee, on January 12,
2000. They have returned to the
U.S. from France, and David is
working for Sun Microsystems. In
November 1999, he was named as
a Technology Review 100 mem-
ber, which is a list of 100 young
innovators who exemplify the spir-
it of innovation in science, tech-
nology, and the arts nominated by
leaders in the industry.
Dave Goldberg and wife Marni
had their second child, Zoey Rose
Goldberg, April 13, 2000. She
joins her 2-year-old brother Sam.
Dave recently became vice presi-
dent, operations (and the first
employee) of Stay Connect, Inc.,
an in-room Internet solutions
provider for the hospitality indus-
try, developed by Choice Hotels.
Dave had been working as director
of corporate development at
Choice, where he helped lead the
creation of Stay Connect. Other
than having a new baby, raising his
son, and being the first employee of
a new Internet start-up, life is pret-
ty calm and boring. For the second
time, Dave vows to never have a
new baby and start a new job at the
same time. Daves new e-mail is
dgoldberg@stayconnect.com.
Marc Gross and his wife Louise
had a baby girl, Aurelia Sarah
McKay Gross, on December 16,
1999. They are still in London,
having decided not to move back
to California, but spend a couple of
more years in Britain instead.
Marcs job at Vestek is going
really well.
Michael and Mary Sue Harman
had their first child, William
Alexander Harman, born on
January 11, 2000 in Norwalk,
Conn. Michael is currently on
assignment with DaimlerChrysler
South Africa, assisting in the
launch of the new righthand-drive
MB C-class.
After six years in Moscow working
for an investment bank, Margot
Jacobs has moved to London to
work for Regent Pacific Fund
Management, an asset manage-
ment firm analyzing the Eastern
European banking industry.
Sheila Lanman is working at
Hewlett Packard in California.
Ashley Lowe has been living in
Michigan for the past two and a
half years.
Paddy Magee is traveling to
Ireland in August.
ALUMNI NOTES
Frank and Carol Ann Manzella
had a son, Sean Michael
Manzella, on St. Patricks Day,
March 17, 2000. Frank also
recently joined Asant Partners, a
boutique investment bank focused
on the healthcare and technology
industries. You can reach Frank at
his new e-mail address manzella@
asantepartners.com.
Paul and Jane (nee Dawkins)
Murphy reported their daughter
Kathryn is over a year old. She is
running around and laughs all day.
PauI works for a private equity
firm, investing in middle market
private companies. He tells us that
its very interesting and actually
feels like he uses the old MBA.
Dirk Nowak had a son, Dominik,
in early May 2000.
Dave Petroni is now the vice
president of corporate develop-
ment at onDisplay. You can reach
Dave at dpetroni@ondisplay.com.
Alona Ponomareva was recently
promoted and will switch depart-
ments in July at the International
Finance Corporation (IFC), which
is part of the World Bank Group.
Shes currently an associate invest-
ment officer in IFCs Latin
America department, making
loans/equity investments in private
companies in Brazil, Argentina
and Peru. In March, Alona was
accepted into a highly competitive
young professionals program at
the World Bank Group (about 40
people chosen from 8,000+ appli-
cants), and will become an invest-
ment officer in IFCs Europe
department. She will finally get a
chance to work in Russia and
other former Soviet Union and
Eastern European countries again.
 MBA

ALUMNI PROFILE

From School to the Motley Fool

Amby and Stephanie (nee
Welch) Rufino have a new son,
Jonathan Ernest Welch Rufino,
born October 22, 1999 at
Georgetown Hospital. Hes quite
adorable. His nickname is tine
for tiny. He has Ambys hair but
he also looks a bit like Steph.
Eric Saucedo left Patricof & Co.
to join Compass Capital LLC,
a Latin American venture capital
fund.
Stefan Stuerwald recently
launched AtomicTangerine, a ven-
ture-consulting firm, and has just
secured the second round of
financing for this project.
Matt Tucker is living in New
York with his wife Jane, and their
two boys, Ryan Patrick, and Jack
William. Matt is currently work-
ing at RightFreight.com, an
Internet company in the logistics
and transportation business that
was recently named by Upside
magazine as one of the 100 hottest
private companies in the country.
Matt can be reached via e-mail at
mtucker@rightfreight. com.
1995
(one Japanese, one American)
since graduation. Kathy says, I am The Motley Fool, the irreverent financial website started by two English
really excited to be working on the
literature graduates, made its name questioning the Wall Street status
renewables side of the debate now.
And since the technology that is quo. So why is a Georgetown MBA
used for wind power is really start- working at a company where the
ing to take off, there is a lot for me
Wise, as some of those who hold
to do here.
business degrees are referred to, are
Eddie Boehme lives in
regarded with suspicion?
Washington, D.C., and is working
for MCI Worldcomm as a tarriff As Jill Kianka (MBA96) puts
guru for long-distance carriers. it, I wouldnt say an MBA makes
Katie Bauersfeld moved to San you any one type of person.
Francisco, Calif., to accept a posi-
Its precisely this ability to question conventional wisdom that
tion as management supervisor at
Miller/Huber Relationship characterizes working at a company where the mission is to educate,
Marketing. She lives 10 blocks amuse and enrich, and that hires MBAs even as the philosophy of the
from Pamela Caldwell and
company is to turn much of the conventional wisdom preached by gradu-
Martina Ehelers.
ates of business schools on its ear.
Steven Bones is leaving
Kianka was recruited to the Motley Fool in 1995 by fellow alum-
Connecticut to work for a
dot.com in San Francisco, Calif. nus Dwight Gibbs (MBA96), when the company was just a startup. From
doing a little bit of everything, she is now chief executive officer of
Tony Corsello recently moved to
Seattle, Wash. He still works at FoolMart, the e-commerce section of the website where Motley Fool
GE Capital. One person who has
books, stock research and on-line seminars are sold.
gone west without moving to a
As the work environments in Internet companies often are,
dot.com. At last report, Tony was
in good health and was ready for Kianka describes working at the Fool as pretty intense. Yet she has
the move.
worked at the Fool for five years, a lifetime in terms of loyalty in most
James Creigh (JD/MBA) and
wife Vicki had a second child,
Internet companies.

Class Agents:
Scott Shore
scott.a.shore@us.pwcglobal.com
Mary Theisen
mtheisen@starbucks.com
Kathy Belyeu has recently joined
the American Wind Energy
Association (AWEA), in
Washington D.C. AWEA is the
trade association for wind turbine
manufacturers and wind energy
project developers, etc. She works
in the communications depart-
ment, promoting the greater use of
wind energy. She is drawing on
her utilities experience, having
worked for two traditional utilities
Thomas OConnor Creigh, in
February 2000. James is a corpo-
rate lawyer with Wilson Sonsini
Goodrich & Rosati, in Palo Alto,
Calif. You may reach him at
jcreigh@wsgr.com.
Allison Daly-Van Dyke has
started a new Internet company
providing data survey informa-
tion.
Bruce Dincin has bought a
house, is getting married to
Beth Madorsky, and started a
new job all within 6 months.
The Motley Fool isnt about lets do an IPO, get rich quick, and
then leave, she says. Its about building a company that lasts, getting
the right people in place, and building a structure that makes sense for
the long term.
The Motley Fool is obviously doing something right the
Washingtonian recently named it one of the best companies to work for
in the D.C. metropolitan area. The people are what make it amazing,
says Kianka.
Kianka believes the culture at Georgetown made the transition to
the Motley Fool natural. At Georgetown, we had a strong emphasis on
teamwork, observes Kianka. Just like school, theres a wide range of
people at the Fool. Each of us supports the company with the differ-
ent skills we bring. Elizabeth Shine (G99)

Spring / Summer 2000 33

 Alumni NOTES
Steve Genn and his wife Julie
had their first child, Zachary
Benjamin, on December 13, 1999.
They live in Chevy Chase, Md.
Steve is a manager at Arthur
Andersen.
Melissa Gilliland is now working
for Tanqueray in marketing and
just bought a house with her hus-
band in Connecticut.
James Healy is living in New
York City. He recently sold the
media company he founded.
Andy Libuser was promoted to
director of Internet product man-
agement at Sprint.
Kui Nakamura and his wife
are starting an Internet furniture
business.
Anne Robison continues to work
in the motion picture industry for
NRG the premier market
research firm. If youve filled out a
questionnaire at a research screen-
ing in the last four years, it was
probably Annes questionnaire. She
lives in the North Hollywood Arts
District and is dating a movie pro-
ducer. Anne is looking forward to
her walking tour of Ireland in
September.
Steward Ross married this past
fall. He and his wife Tammy are
both living in New York City,
where Stewart is working in the
executive search industry.
Lisa Gleicher Sanderson had a
baby girl, Emily Aileen, in April
2000.
Carrie Sauer was promoted to
group manager of Internet market-
ing at Sprint. She completed her
first marathon, the Marine Corp
Marathon, in Washington, D.C.
last fall.
34 The McDonough School of Business
Jennifer Sheehy is on a White
House task force to promote
employment opportunities for dis-
abled Americans. Soires, congres-
sional hearings and White House
meetings are now the norm for
Jennifer.
Scott Shore left Heidrick and
Struggles and is working for
PricewaterhouseCoopers.
Samantha Tarlton was married
in September 1999. She also
recently changed jobs and is now
director of marketing for a busi-
ness-to-business electronic mar-
ketplace, SupplierMarket.com, in
Boston, Mass.
Mary Theisen recently left Tyson
Foods after five years in brand
management. She is now a brand
manager at Starbucks, serving as
the strategic liaison between
Starbucks and Kraft Foods for
their grocery and wholesale part-
nership. She enjoys the unique
challenge of managing the
Starbucks brand in a new channel
and bridging the organizations of
these two marketing powerhouses.
So pick up a bag of Starbucks
Coffee at your neighborhood
Safeway! Mary has lived in Seattle
for the last three years, and loves
the area. She has adopted the
mountains to sound lifestyle, and
has learned to sail and cross-coun-
try ski. She also plays in a racquet-
ball league, where her opponents
are as fierce and competitive as her
Georgetown opponents Eli
Mendoza, Mitch Remy, Kevin
Wrathall and Mimi Yeh.
Rob White and wife Kerry had a
little boy, Patrick, on December
17, 1999. Rob is working for the
investment banking group at
PricewaterhouseCoopers.
1996
Class agents:
Leslie Blair
leslie.blair@spcorp.com
Tim Doyle
tdoyle@washington.palisades.org
Julie Jaoudi
jaoudi@aol.com
Jill Kianka
jillk@foolmart.com
Miriana Martinova
martinom@lci.com
Ashley Allen recently joined The
Womens Growth Capital Fund, a
Washington, D.C.-based venture
capital firm that invests principally
in women-owned and women-
managed companies. The firm also
manages WomenAngels.net, the
first all-women Angel investment
fund in the U.S. She encourages all
Georgetown MBAs (especially the
gals) seeking capital for new busi-
ness ventures to send her an e-mail
at ashley@wgcf.com
Sonny Bhatia and Theresa
Preslik were married on April 15,
2000.
Durga Bobba married Geetika
Bohil on March 25, 2000. The
wedding was attended by class-
mates Bob Ryan, Chris Tiscornia,
Razi Karim, Joe Mohan, Ken and
Pam Cruse, Pedro Herrera,
Wendi Norris, Dwight Gibbs,
Bernie Cooney, and Mark
Eckrote.
John Dearing recently passed the
certified financial analyst exam and
is the project manager at Virtual
Strategies, Inc., a Washington,
D.C.-based mergers and acquisition
firm. He lives in Arlington, Va.
ALUMNI NOTES
With a year of George
Washington Universitys law school
under his belt, Tim Doyle has
joined Sterne, Kessler, Goldstein &
Fox, a mid-sized intellectual prop-
erty law firm. He is learning to
write patent applications and is a
member of the firms electronics
group.
Bob Gabriel was lured from
Smith Barney into the dot.com
world by privately-held IXI
Corporation. A database-market-
ing company in McLean, Va., IXI
Corp. provides clients with market-
share measurement, corporate
strategy, and wealth-targeting tools
over the Internet. He and wife
Megan are happily raising their
three children Margaret (6),
Will (3), and Honor (1).
Timarie Kilsheimer recently
joined Digex, Inc. as its channel
marketing manager.
Jim Mooney, wife Lisa, and son
James are leaving New York to
return to Boston, Mass. Jim will be
taking an analyst position with a
private investment firm.
Constantine Potamianos
(JD/MBA) was practicing corporate
and securities law, but recently
decided to part ways with the law.
He recently joined Common-
wealth Associates, L.P. as a vice
president in their investment
banking group. Commonwealth is
a merchant banking and venture
capital private equity firm focusing
on investing in startup and emerg-
ing technology companies. He
would love to hear from any
Georgetown MBAs who are also
in the New York area (or just visit-
ing) and would encourage anyone
in the market for technology com-
pany financing to drop him an e-
mail at constantinep@comw.com.
MBA
Last fall, Brian Powilatis became
a partner in the financial services
industry practice at Mercer
Management Consulting in
Washington, D.C. He and his wife
Joyce live in Old Town Alexandria,
Va.
1997
Class agents:
Rochelle Cheng rcheng1@cisco.com
Andrea Alexander
alexander.ah@pg.com
Jane Oyugi
joyugi@dttus.com
Megan Mulvihill
memulvihill@leggmason.com
Rochelle Cheng, class agent, is
manager of corporate finance at
Cisco Systems in California.
Tod Reinert is still in the U.S.
Navy. He was promoted to com-
mander, and has relocated to
Turkey with his family, where he
works as the Navy foreign military
sales officer under Ambassador
Mark Parris (F72). He welcomes
correspondence at reinert@mar-
ketweb.net.tr, and invites guests to
visit him in Turkey.
Robin Young has moved to El
Salvador on a three-year assign-
ment for her company,
Development Alternatives Inc.,
working on a rural microfinance
project.
1998
Class Agent: Brian Knox
bknox@hess.com
Marilyn Dement works for
TheSilentAuctioneer.org, an online
not-for-profit organization that
provides e-commerce fundraising
solutions for charity events.
Damon Griggs works for Arthur
Andersen in their telecommunica-
tions consulting practice, and is
currently staffed on a project
involving Qwest Communications.
He says he greatly misses his
housemates at Georgetown
Mark Maruszewski, Nathan
Richardson and Brian Knox.
Raj Khoka married Gauri Sohoni
(MBA 99) on December 27, 1999,
in India. Violeta Velazquez
(MBA 98) attended the wedding.
Bill McDonald is continuing his
work with IBMs internal transfor-
mation consulting unit, specializing
in e-business strategy consulting.
Nathan Richardson left
CitiGroup and joined a start-up in
San Francisco, Calif., dotbank.com,
where he specializes in business
development. Soon after he joined,
the company was acquired by
Yahoo!
Jeff St. Claire joined the
Robertson Stephens technology
investment banking practice in San
Francisco, Calif.
John Venusti has joined Chase as
an equity research analyst for the
telecommunications industry.
Steve Woo has been working for
iXL, a web development company,
where he focuses on online market-
ing and website development. His
company was recently featured in
The Washington Post.
1999
Class Agents:
Mike Pastore
pastmike@yahoo.com
Jose Luis Bedolla
Jose_Bedolla@notes.toyota.com
ALUMNI PROFILE
When It Comes to Diplomacy, Alumnus Means Business
J. Richard Fredericks (B68) and his son
Matthew hiked a big chunk of the middle
part of Switzerland two years ago. Now
Fredericks is tackling different terrain this
time as U.S. ambassador to Switzerland
and Liechtenstein.
Appointed last year, Fredericks
comes to the position with 30 years of
experience in the brokerage industry, commercial banking and
investment research, including business dealings with the Swiss
banking industry.
These skills have already proved valuable. The Swiss
economy was lethargic in the 1990s, notes Fredericks. Relations
between [the U.S. and Switzerland] were strained due to Holocaust
asset issues. Hopefully, my presence can help move relations forward.
With a firm grasp of economic issues pertinent to both
countries, Fredericks has capitalized on the momentum created by the
U.S.-Swiss Joint Economic Commission (JEC), proposed by Vice President
Al Gore and Ruth Dreifuss, former President of Switzerland, last year.
Eight days after Frederickss appointment, JEC held a kick-off meeting at
which the two countries agreed to work together on more open trade,
southeastern European issues, and international economic crime.
Fredericks has also brought his expertise in the technology
arena to bear on his diplomatic responsibilities. In the early 1980s,
he raised money for E*TRADE, and bought and sold dot.coms as an
investment banker. Working with the JEC, Fredericks helped to
organize the Conference on e-Commerce, held June 5-6 in Zurich. The
conference brought together key industry spokespersons to address
e-business trends.
Closer to home, Fredericks notes that one of my goals has
been to webify the embassy. His Internet handiwork can be seen at
www.usembassy.ch.
Fredericks looks back on his experience at Georgetown with
enthusiasm. Georgetown is a great launching pad for whatever you
want to do, he says. We were blessed by the classmates we had.
Lynn Cothern
Spring / Summer 2000 35
 Alumni NOTES
IEMBA
1996
Class agent: Thom Arnsperger
tarnsperge@aol.com
Kris Bell and her husband Terry
had a daughter, Anna McKennzie,
in August 1999.
Mark Bloom and his wife Jill had
a daughter, Lindsey Hendricks, in
October 1999.
J.C. Boggs is of counsel in the
government relations department
of Blank, Rome, Comisky &
McCauley, a Washington, D.C.
law firm.
Ben Cass left Andersen
Consulting to joined SIEBEL
Systems.
Bill Harrison has switched to the
project and structured finance divi-
sion of the U.S. Export-Import
Bank.
Terrell Mellen joined Cushman &
Wakefields commercial brokerage
groups Washington office.
1997
Class agent: Lynn Miller
mllemiller@aol.com
IEMBA IIs are doing a great job
of keeping in touch via e-mail. If
youre not on the group e-mail list,
please inform me at MlleMiller@
aol.com or lmiller@ti.com. Best wish-
es to the new parents in the class:
Eric Sklar, Michele Young
Barnum, Bill Grove, Kurt
Gastrock, Bob Johnson, Kevin
Pitts, Sally Buzbee, and Clark
Beyer. Are there any Ive missed?
Let me know!
It seems like just about everyone in
the class has made a career transi-
36 The McDonough School of Business
tion by now, except for me! Im just
trying to vest in peace now that
Telogy is a part of Texas
Instruments. Ive also been keeping
busy raising money as class presi-
dent and agent of my Lehigh
alumni class. I raised more than
$50,000 from my fellow Class of
85 alumni, including 17 gifts rang-
ing from $1,000 to $5,000, and
have been invited to sit on Lehighs
National Giving Committee. Gee,
just think what I could raise for the
McDonough School from a bunch
of successful Georgetown IEMBA
Deuxs! (Be forewarned!) Keep
those e-mails coming!
Were you unhappy with the picks
at this years Emmy Awards?
Blame it on Robin Abraham! Yes,
our very own Robin is now an
active voting member of the
Academy of Television Arts &
Sciences.
Marcel Bahro is also getting in on
the start-up action in
Switzerland! In January, he found-
ed a management consulting com-
pany together with a doctor and a
lawyer. The focus of their business
is primarily on the health care
arena. Marcel is still chief, division
of geriatric psychiatry at the
University of Berne Psychiatric
Department. He also does research
financially supported by the Swiss
National Science Foundation.
Drawing on his IEMBA experi-
ence, Marcel also recently initiated
a postgraduate management educa-
tion program for medical doctors
in collaboration with a private busi-
ness school in Berne.
Clark Beyer is serving as director
of business development at
diCarta, which provides business-
to-business contract and revenue
management solutions, primarily
for tech companies. He is responsi-
ALUMNI NOTES
ble for diCartas partnership and the truth of an old adage that
new market entry efforts. Like Eric when your number of children
Sklars deal, this one sounds well- increases beyond a total of two, the
connected, with Sequoias Don parents have to shift from man-
Valentine on the board. Clark to-man to zone defense.
reports that he, Gretchen, and Joanne, in an irony only IEMBA
Brooke are settling into their new IIs could appreciate, now works
home in Los Altos, Calif. weekends as a music teacher for
Gymboree (who can forget Susan
Lucy Reilly Fitch has left
McVays fantastic delivery of the
Lockheed Martin to be vice presi-
Gymboree analysis?). Bob reports,
dent of acquisitions and strategy at
I told her its a great company
BAE Systems North America.
with sound financials and a great
Many local D.C.-based alumni
strategy, but I dont think thats
enjoyed a party at Lucys new
what convinced her to work there.
Potomac manse a while back.
As if hes not busy enough, Bob is
Bill Grove left Anderson still spending some time recruiting
Consulting to join Appnet, where Georgetown MBAs for PwC.
he built a boot-camp for the new
Those of you who have time to
hires that will double the compa-
read (and from the looks of some
nys headcount by year-end. (Yes,
of your travel schedules, there
that military training does still
arent too many of you) may have
come in handy!) He will start a
seen Suzanne Kaisers byline in
new post as a project manager run-
several international publications.
ning Internet application develop-
Suzanne graduated from the
ment projects with clients such as
Columbia Graduate School of
Fortune 2000 companies, non-
Journalism in May 1999.
profits and dot.com start-ups. The
Congratulations, Suzanne!
Groves are now up to three little
ones, with the birth of a little girl David Klatt recently left Black &
(Haley) in July 1998. Decker. Since 1986, he has over-
seen global product development
Bob Johnson is still at
at the company. In his last year at
PricewaterhouseCoopers (PwC).
the company, he increased division
He just landed a new assignment
sales over 20 percent and grew
in e-business, where he is in
profit over 50 percent while serv-
charge of building a new e-SCM
ing as vice president/general man-
business within his practice. He
ager of the U.S. consumer divi-
now is devoted full-time to e-
sion. Klatt was also responsible for
business. He reports that hes lov-
global product development and
ing it but am traveling a lot,
served as chairman of a joint ven-
upwards of 70 percent. I can
ture focused on manufacturing
vouch for that, having bumped
and engineering with a company
into Bob at more technology
in China. He has now taken the
tradeshows than any other person
reins as chief executive officer of
I can think of ! On the personal
start-up AirClic in Pennsylvanias
front, his son Andrew is now 19-
Philicon Valley.
months old and the whole family
just got back from a week at Walt Michael McCarthy recently
Disney World. Bob reports that accepted a position as a principal
Joanne and I learned first hand in the private client group of Lend
 IEMBA

Lease Real Estate Investments. Eric will have many problems

This an Australian financial servic-
es company focused exclusively on
real estate, with domestic head-
quarters in Atlanta and New York.
Michael is now commuting to
Atlanta, as he is in the process of
launching a new global property
fund. He reports that while the
5:30 a.m. flight to Atlanta is get-
ting a bit old, he is very excited by
the opportunity. Since David
Klatts mother has opened a
restaurant in Atlanta, I have some-
where to go for home cooking,
he points out.
Susan McVay was recently
promoted to director of lodging
quality assurance for Marriott
International. Susan notes that its
a neat opportunity to combine her
technical and business skills by
using technology to re-vamp the
quality assurance process for the
hotel brands.
Congratulations to Scott Phillips,
who was recently married to
Martina. Scott reports that he and
his Czech bride are both greatly
enjoying marriage and living in San
Francisco, Calif. Ever the traveler,
Scott is looking forward to an
upcoming four-month leave of
absence, which will be spent travel-
ing through Europe.
Eric Sklar, founder of Burrito
Brothers in Washington, D.C., is
drawing support. Eric reports that
he is having the time of his life.
Congrats to Maria Sheehan, who
has joined Hill & Knowlton as a
managing director.
Bruce Spencer is now living on
the East Coast and serving as a
financial advisor to the company he
worked for in Guam. At this point,
he reports that he is basically
doing my own thing. Bruce has
taken on a couple financial adviso-
ry/consulting projects. He is con-
sidering full-time and entrepre-
neurial opportunities, but is very
much enjoying the free agency.
Bruce reports that he is looking
forward to getting together with
everyone soon.
1998
Class Agent: Debbie Weil
debbie@wordbiz.com
Terri Burchfield left Capitol Hill
and is now manager, corporate
development for Proxicom in
Reston. Her e-mail address is
tburchfield@proxicom.com.
Joe Carlin works at Argon
Engineering Associates. He recent-
ly moved to Ashburn, Va.
Joanne Coffey is now married
and has a baby boy. She is direc-
tor of finance at Excalibur
ALUMNI PROFILE
Tuskegee Airmen Honored By MBAs,
Undergraduate Business Students
During Wall Street internships with Credit Suisse First Boston (CSFB)
last summer, undergraduates Kalsheila Brown, Blythe Edwards,
Tonya Adison, and Sacasha Brown (all B00) first heard about the
Tuskegee Airmen when retired airman Colonel Harry A. Sheppard
described their many professional, civic, and personal successes. The
airmen, the first class of black military pilots in the United States,
fought during World World II, and never lost a bomber.
Graduating from segregated training, the airmen completed
1,578 missions in the aerial war over North Africa and southern
Europe, receiving 95 Distinguished Flying Crosses and many other
citations. Despite adversity, Sheppard emphasized that everyone
should always perform at their best, said Kalsheila Brown, who
now works at Morgan Stanley Dean Witter & Co., New York. We
thought Georgetown students could draw from his experience.
The students organized A Legacy of Achievement: The
Tuskegee Airmen with the help of Inga Riggins (MBA00), then
president of the Black MBA Association. The event, sponsored by
the McDonough School, was held January 24 at Gaston Hall.
Addressing the business school audience, Sheppard said that
the men he had worked with were the most ambitious, deter-
mined, and cohesive group I have ever come to know. The airmen
were expected to fail, he added, but that they were determined to
make the experiment fail on their doubters part, not their own.
Lloyd Campbell (B79), CSFB managing director and

launching another business, info-
haze.com. He is raising capital for
a planned launch of this new
Internet company in late summer.
Eric also is serving as a vice presi-
dent of TechNet, a Silicon Valley
lobbying organization, which he
describes as designed to get the
Valley in the political game. Given
that this group was started by John
Doerr, Jim Barksdale, and John
Chambers, I somehow doubt that
Technologies Corp. Her e-mail is Sheppards nephew, introduced his uncle. Campbells father and
jhannafin @excalib.com.
three uncles served as Tuskegee Airmen. He presented a donation of
Amr ElSawy is now senior vice
$25,000 from the bank to the Airmens educational fund, which
president at MITRE
Corporation. His e-mail address awards more than $60,000 in scholarships a year to deserving stu-
is aelsawy@ mitre.org. dents throughout the country regardless of race or gender.
Bob Fragola left Bell Atlantic
to join a startup. He is vice pres-
ident of Cambrian Communica-
tions. He can be reached at
rfragola @aol.com.

Spring / Summer 2000 37

 Alumni NOTES
Michele Franck moved to
Germany soon after graduation
and has been promoted to vice
president of the structured finance
department at Bayerische
Landesbank. She can be reached at
her home e-mail:
michfranck@aol.com.
Mark Gage is a manager at
Whitney, Bradley & Brown, Inc.
His work e-mail is mgage@
wbbinc.com.
After a three-month honeymoon
with new wife Karen Severy, Erik
Gaull is back at TriData. He and
Karen bought a fabulous house on
Potomac Avenue, overlooking the
river, near Chain Bridge, in D.C.
He can be reached at eegaull@tri-
datacorp.com.
Andre Gamrasni is now working
for Lockheed Martin in their D.C.
office. He can be reached at
andre.j.gamrasni@LMCO.com.
Kimberly Higgins has moved to
IBM, where she is doing govern-
ment enterprise software sales and
says she is loving it! Her contact
info is khiggins@us.ibm.com.
Philipp Huber left the D.C. office
of SwissAir and moved to Los
Angeles, Calif., to be president of
Hallmark Aviation Services.
His phone is 310 / 215 0701 and
his e-mails are: philipphuber @
hallmark-aviation.com and/or
philhuber@aol.com.
John Justino is program manager
of Populations Services
International in Washington, D.C.
His e-mail address is
jjustino@erols.com.
Bill Kendrick also moved to the
West Coast to take a job with
Symantec. He can be contacted at
bkendrick@worldnet.att.net.
38 The McDonough School of Business
Maureen Lalor has taken a new
position as vice-president of busi-
ness development at Roku
Technologies Corporation in
Chantilly, Va. She can be reached at
maureen @roku.com.
Paul LaPorte is chief executive officer
and co-founder of a startup,
LoyaltyWorks, Inc. (change in process
from RegistrationVillage.com). Check
it out at
plaporte@registrationvillage.com.
Ivo Maric describes his new
daughter, Camila, born in Septem-
ber 1999, as his major accomplish-
ment since graduation. He is
working at the Inter-American
Development Bank as an informa-
tion technology consultant. His e-
mail addresses are ivom@iadb.org
and ivomaric@erols.com.
Anu Pahuja is married and living
in New York, where he is still with
Andersen Consulting. His e-mail is
anu.pahuja@ac.com.
Lenny Park has joined the West
Coast exodus, moving to Menlo
Park to work for a startup. He can
be contacted at lennyp@erols.com.
In August 1999, Kamran Sistani-
zadeh left his position as chief
technology officer for Bell Atlantics
GNI group and moved to San
Francisco, Calif., to co-found Yipes,
a provider of managed optical
Internet protocol networks. He is
vice president of network architec-
ture and a member of Yipes senior
management team.
Elaine Smialek married and
moved to the West Coast right
after graduation. She is now Elaine
Korn and has a baby girl,
Madeleine Elizabeth, born in
October 1999. She is working for
Oracle, and lives in Redwood City,
Calif.
After a year and a half with
Network Solutions, Inc. in
Herndon, Va., where she was a
marketing consultant and then
Web content marketing manager,
Debbie Weil has moved to
Discovery.com in Bethesda. She is
international marketing manager
for Discovery Online International,
discovery.coms 11 global websites
in six languages.
1999
Class Agent:
Alphonse Iudicello
a.iudicello@worldnet.att.net
We all need the next IEMBA
happy hour. Details to follow based
on response.
Liz Blankenship and I are looking
for money to recapitalize our com-
pany. Anyone want to invest in the
odd couple?
Holly Bradley Brown was pro-
moted to chief, strategic planning,
at the Defense Security
Cooperation Agency, Office of the
Secretary of Defense. She uses her
newly-minted IEMBA skills and
connections on a daily basis. Hollys
current focus is on leading the
agencys balance-scorecard effort.
Bruce Burton is working for
Booz-Allen. Erin Owens and
Bruce, last seen working together
on [in] giant baggies in Mexico for
the final IEMBA IV residency, are
at it again. Erin brought Bruce
aboard at Booz-Allen to help with
the firms international acquisitions
and integration program. Bruce is
now frantically trying to recall key
skills from IEMBA (financial
analysis, organizational
change, MANAGING THE
BOSS).
ALUMNI NOTES
We all need to call Marty Carter
the next time were in Boston. Shes
enjoying her position at Boston
University even handing out
diplomas and wearing funny hats
during graduation.
Jim Dunn is delivering broadband
to Aleut Indians in Alaska.
Richard Eng is currently the man-
ager for systems planning for
Mitretek Systems, responsible for
new business development with an
emphasis on e-commerce, Internet
engineering and security and is
beating the pants off fellow project
managers by applying the hard-
learned lessons from negotiations,
marketing, operations and leader-
ship classes. All his projects have
earned a 20% plus margin. Keep up
the good work!
Seth Grae reminds us that on
May 22nd he missed Elaine
Romanellis class when daughter
Danielle (now two years old) was
born on campus at Georgetown
University Hospital. Thanks,
Seth, for helping us reminisce
roman style.
Neil Gregory is definitely on the
track and went back to China
yet again, this time in the new posi-
tion of head of strategy and coordi-
nation, South Asia, at the
International Finance Corporation,
where he completed a study on
Chinas domestic private sector, to
be published shortly [send it to us
first, Neil]. Hes been featured on
the front page of The Financial
Times, interviewed on BBC World
Service (appropriately enough) and
Bloomberg, amongst others. He
has a new baby, Philip, born just
before Christmas. Cheers.
The next rising star is our
scientist-turned-businessman,
John Gudas.
IEMBA
Todd Harffs Creating Results
Company is rapidly growing (two
new hires). He has the notion that
we might look into creating a
board of advisers consisting of our
classmates to IEMBAize each
others companies. Yikes!
Alina Koos is now working for
Network Solutions.
Jon Miller is now living in the
Netherlands. He writes, I am
struggling along, trying to make a
living! He writes from a very
sedate and relaxed location in the
Netherlands, in a town called
Wageningen, and as fate would
have it, the hometown of Prof.
Stanley Nollens grandmother.
Jon shares luckily I dont have
any hedonic pricing problems here
to tackle as yet! The setting is very
picturesque as the town is situated
on the Rhine, which provides a
wetlands sanctuary in a region dot-
ted with horses, cows, sheep and
diverse agriculture reminiscent of
small family farms. So I have
retired to the country of another
country and life is good!
I arrived here the beginning of
March to join my fianc who is
Dutch (not Norwegian or
Swedish). Katinka studied here at
the University of Wageningen and
so I have moved in essence from
one university setting to another.
History abounds here from
Bronze Age sites to Roman ruins
(canals) and those of W.W.II, with
many emotional reminders includ-
ing Dutch liberation day, which
was celebrated on May 5.
There is a strong remembrance
and respect shown by the Dutch to
the British, Canadian and
American troops left behind in the
many military cemeteries, which
are prevalent in this area of the
country, which lies between
Utrecht, Arnhem and Appledoorn.
Away from the tourists and
crowds of Amsterdam, the coun-
tryside of Holland is a lush green
and as a result of its flat contour,
the sky is always large and still
reminiscent of many of the scenes
portrayed in the works of the old
Dutch masters.
Happily for me, the weather
has been unusually sunny and mild
and the Abbey beers have been
strong and cool. An additional plus
of this very rational culture is the
open acceptance of you and your
dog in the cafes and pubs. It was a
pleasure to have my server bring
water and dog cookies for my
husky, Suzie. This is a very dog-
friendly country and there is no
required quarantine as long as the
vaccinations are as required.
My passion of cigars is also
welcome here without any assault
by rude gestures or threats on my
life. Although the Netherlands
does business with Cuba, I prefer
the tobaccos of Indonesia and
Sumatra as they are light but full
bodied. Why didnt I come here
when I was 19, hmmm.
Mark OConnell went to Ecuador
last summer with the family and
hiked in the Andes.
Van Riley, the boldest of all of us,
upon receiving the illustrious
IEMBA diploma, quit his job in
Philadelphia the next day and is
fast approaching his one-year
anniversary at Discovery
Communications. He bought a
new home in Germantown, Md.
Connie Sixta, vice president of
operations at a hospital in
Houston, Texas, is sorry to be so
silent have been too busy at
work but tells us shell write over
the holidays when it slows down.
OK, Connie well wait for the
holidays.
Donna Woodall, recently back
from a fun trip to Brazil and Rio, is
still with MERANT, but moved to
their newly acquired e-business
division and is consulting in
e-business strategy and analysis
under the title of e-business dev-
elopment manager.
Elaine Zuckermans international
development consultant firm has
strong demand from other clients,
but still is doing well with her
main client, the World Bank. Shes
working hard promoting IEMBA
enrollment among potential stu-
dents
Survey: What has your IEMBA
degree done for you lately?
Holly Bradley Brown: I keep
Rob Grants book, Contemporary
Strategy Analysis, on my desk at all
times. I also insist others read and
use some of the models in there.
For example, I use the dynamic
resource fit model on almost every
project. This model allows a group
to address the individual elements
of an issue without having to deal
with a preconceived conclusion,
readily highlights were the real
decisions need to be made, and
doesnt intimidate folks with a lot
of b-school jargon.
Richard Eng: The greatest bene-
fit was having the freedom to test
good, bad, and ugly ideas in class.
The people in class always gave me
alternative views and ideas to bring
back to work. For this I am truly
grateful. I have found that my
MBA coursework has helped enor-
mously. So my tuition already has
been worth it.
Neil Gregory: Its not so much
the piece of paper as what we
learnt. And I have to admit, the
touchy, feely organizational, lead-
ership, teamwork stuff is proving as
useful as anything!
Todd Harff: As far as the degree
is concerned, Im using some parts
more than others. Weve been
making a better effort to allocate
costs and to develop and stick to
our strategy. Some of the buzz
words, etc. can be helpful, with the
right audience. The cache has been
somewhat helpful but hard to
measure. Would be great if
Georgetowns rank improved.
However, the most valuable part
was seeing the benefit of being part
of a high-performing team.
Jon Miller: Currently content in
my recent early retirement from
my University position, I feel that I
am perhaps rested enough to pro-
ceed with my next endeavor,
embarking on my next career. I
have a multitude of Internet list-
ings, as well as an executive search
service, at my disposal here.
Anybody doing business in the
European Union is here in the
Netherlands and that in itself pro-
vides many possibilities. As flexibil-
ity was Professor Ernsts motto and
model for business, I have adopted
it for my life plan and
job search.
So, I am hopeful that my IEMBA
experience will give me the edge I
need to negotiate a senior position
with a firm which can benefit from
my diverse experience and chal-
lenge my proficiency in the skills
and tools which I have imported
from the Georgetown IEMBA
program.
Mark OConnell: Still doing the
same old stuff. Have applied for
other jobs internally in finance and
business-management touting my
business school degree, but these
have been futile. Have not seriously
searched externally though. Might
do that eventually.
Spring / Summer 2000 39
 Alumni NOTES
Van Riley: I would not be work-
ing for Discovery if I didnt have
the degree in international busi-
ness. I have been able to apply a
number of the marketing, strategy
and finance concepts directly to
Discoverys International strategy
projects.
2000
Class agent: Dan Gallagher
gallagherd@erols.com
Donna Hamel has incorporated
Hamel Enterprises, LLC, Va.
Hamel Enterprises (at http://
www.hamel-enterprises.com) is a
custom software development
company that will initially be
subcontracting to prime contrac-
tors working for the U.S. govern-
ment. If you need a web site
designed and developed, or other
types of database-enabled appli-
cations constructed, give Hamel
Enterprises a call.
Frank Spasaro is the president
and chief executive officer of
BurningTree Technologies, Inc.,
a leading network services con-
sulting firm based in Herndon,
Va., which he co-founded while
enrolled in the IEMBA program.
His company has raised over
$600,000 in angel financing and
seeks to raise several million
more in venture capital in 2000.
The company serves an interna-
tional client base and plans to
develop web-based services, net-
work management tools and
service offerings, and expand its
40 The McDonough School of Business
services throughout the U.S.,
Europe and Asia. Frank and his In Memoriam
wife, Paula, live in Bethesda, Md.
Georgetown students and alum
David Shick (B01)
may contact Frank via e-mail at
fspasaro@bttinc.net. David Shick, 20,
died on February 22, 2000,
Jeff Ward is Lockheed Martins
at Georgetown University
new director of business transfor-
mation in the companys newly- Hospital, after sustaining
established human resource servic- serious head injuries during
es department. During his eleven
an apparent altercation on
years with Lockheed Martin, he
has held various management campus in the early morning
and professional positions. hours of February 18.
Chris White is heading to India At a special memorial mass
on June 5. She hopes to see on February 23, Georgetown
IEMBAs if their travels take University president Leo J.
them to New Delhi. (She would
ODonovan, S.J. shared
be happy to host an IEMBA V
reunion in August, when the remembrances of Shick,
weathers at its finest ) while reinforcing a message
Contact Chris at the following: of respect, reverence, and
EMAIL: white_ dottavi @hot-
healing. Incorporating the
mail.com.
words of David Shicks
Greg Williams, a vice-president
mother, Debbie Shick,
at iServed.com, wants to
announce that his start-up into the homily, he advised
Internet company just acquired all present to be kind.
the Stars and Stripes Newspaper,
a 138 year-old veterans publica-
tion. Forget AOL and Time
Warner! The new corporation
will be called Stars and Stripes
Omnimedia and can be found at
www.stripes.com. Greg Williams
can be reached at
greg@stripes.com.
georgetown university Non Profit Organization
the mcdonough school of business US Postage
PA I D
old north building
Washington DC
washington dc 20057-1008 Permit 3901