WINTER 2003

Business
VOLUME 15 NUMBER 1
Georgetown Business is
published during the academic
year by The McDonough School
of Business for alumni, parents,
friends, and business colleagues.
Dean
John W. Mayo, Ph.D.
Executive Dean
Joseph Mazzola, Ph.D.
Editor
Elaine Ruggieri, apr
Contributing Writer
Tom Price
Photography
Jon Golden
Designer
Nancy Van Meter
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.georgetown.edu
 Letter from the Dean

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

Welcome
This appointment follows my serving as Senior Associate Dean (19992001) and as a Professor of
Economics, Business and Public Policy at the MSB since 1997. After one semester on the job, I must
say that I am genuinely overwhelmed by the tremendous goodwill that I have found toward the School.

As we look to the future, the School faces three priorities directed at positioning us solidly among the
top-tier business schools in the world. First, in recognition that we cannot rely upon a dominant financial
position relative to most of the top-tier schools, we will seek to leverage our considerable non-financial
resources to help elevate the School. Faculty, staff, students, alumni, parents and our corporate friends
will all be asked to help contribute their own particular skills to this effort.

Given the scarcity of new jobs in the current soft economy, we are asking alumni to help our students
network within the business community to identify positions where fellow Hoyas can find opportunities
to excel. If you have information about an employment opportunity, please contact Jim Dixey, our new
Director of MBA Career Management, at 202.687.3745. You can read more about Jim and his plans for the
career management office on page 14.

Dean John W. Mayo

Second, the School will develop a serious, forward looking strategic plan that will guide our activities and
program growth for the future. This effort is headed by Professors Elaine Romanelli and William Droms
and includes a number of faculty, program directors, students and a distinguished member of the MSB
Board of Advisors. The output of the plan will provide guidance for the construction of new facilities to
house the MSB. I hope to have more good news to report on that front in the near future.

Third, after years of rapid growth, the School will seek to ensure that we are operationally and financially
positioned to compete as a full-portfolio, top-tier business school. For example, we will seek to establish
personnel to improve our relationships with the corporate community that has been so kind to us over
the years. As part of this effort, we will also clarify our financial relationship with the University in a way
that maximizes the long-term prospects for our mutual success.

In order for these three priorities to have the desired impact all McDonough constituents must offer
unprecedented levels of collaboration and assistance. Indeed, such a spirit of engagement is virtually
CONTENTS
critical to our success. In that same spirit, I wish to reaffirm the McDonough Schools commitment to
building a mutually beneficial partnership with you.
Inside Information . . . . . . . . . . . . . 2
Sincerely,
New Dean Leads McDonough
With Experience and Vision . . . . . 9

New Director Advances

Career Services . . . . . . . . . . . . . . . 14

Chaplain Ministers to John W. Mayo, Ph.D.

B-School Students . . . . . . . . . . . . . 15 Dean
Managing Political Risk
with Political Risk Insurance . . . . 16

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

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

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

1
Inside Information
Jain Appointed Inaugural Elsa McDonough Professor
he McDonough School has named
T
accounting and finance scholar and
teacher Prem C. Jain the first Elsa Carl-
son McDonough Professor. The chaired profes-
sorship was established by benefactor Robert
Emmett McDonough (F49) in honor of his first
wife Elsa, who died in 1994.
Jain, an expert in financial analysis and its
economic implications, joined the McDonough
faculty in 2000. He has taught accounting and
finance courses at the A.B. Freeman School of
Business at Tulane University, The Wharton
School at the University of Pennsylvania, the
School of Accounting at the University of
Florida, and the Graduate School of Manage-
ment at the University of Rochester. He also has
served as Visiting Research Scholar at INSEAD
in France and the Commodity Futures Trading
Commission in Washington, D.C., and has
taught at the Instituto Tecnologico de Estudios
Superiores de Monterrey (ITESM) in Mexico
and the China European International Business
School (CEIBS) in China.
As part of a $30 million commitment to the
business school in 1998, Robert Emmett
McDonough established the Elsa Carlson
McDonough chair to enrich the schools curricu-
lum, enhance the student experience, and attract
and retain excellent faculty. A 1949 graduate of
the Georgetown University School of Foreign
Service, McDonough is a member of the busi-
ness schools Board of Advisors and a recipient of
the John Carroll Award for his many years of
loyal service and leadership, and unprecedented
generosity to Georgetown University. He serves
2 The McDonough School of Business
as vice chairman of
Remedy Temp,
Inc., a temporary
staffing services
company that he
and Elsa
McDonough
founded in 1964.
Headquartered in
Aliso Viejo, Calif.,
Prem C. Jain Remedy Temp
operates 280 offices throughout the United
States. He and his wife, Dr. Simone Ballandras
McDonough, reside in Capistrano Beach, Calif.
and Paris, France.
McDonoughs vision of the chaired profes-
sorship as a fitting tribute to Elsa McDonough
is realized by the appointment of Jain, who
received the Erich Sternberg Award and the Irv-
ing H. LaValle Research Award for his scholarly
work and several teaching awards while at
Tulane University. His articles have been published
in numerous journals, including the Journal of
Finance, Journal of Accounting Research, Journal of
Financial Economics, and Journal of Accounting
and Economics. As an expert in relating financial
reporting to the stock market, he has contri-
buted comments to business stories in the Wall
Street Journal, Barrons, Newsweek and other
media. He has served on the editorial boards of
The Accounting Review and other journals.
Jain received a B.S. from the Birla Institute
of Technology and Science in India, an M.S. in
applied economics from the University of
Rochester, and a Ph.D. in business administra-
tion from the University of Florida. He has been
a certified public accountant since 1983.
A ceremony to recognize Jains appointment
as the inaugural Elsa Carlson McDonough Pro-
fessor will be held later this year.
McDonough School Offers
New Undergraduate Major
Business students can now major
in Operations and Information
Management (OPIM), the first new
major approved in several years
by the Business School.
The new concentration provides
a solid foundation in supply chain
management and information
systems fundamental to modern
management.
The OPIM major will enable stu-
dents to approach technology
issues from both a strategic direc-
tion and an analytic perspective,
enhancing career opportunities in
management of the supply chain,
information systems, manufactur-
ing and/or service operations, and
risk analysis.
The OPIM major is also an excel-
lent basis for careers in business
consulting. According to Area
Coordinator Ricardo Ernst, We
were able to draw on the strength
of our faculty in the area of Deci-
sions Sciences, Production and
Operations Management, and
Management of Information Sys-
tems to offer this timely course of
study. There is a tremendous
demand for professionals who
understand business processes
and the application of information
systems to improve them.
Two Achieve Tenured Positions
Assistant Professors Paul Almeida and Catherine H. Tinsley received tenure in June and
were promoted to associate professors.
lmeida left The Wharton School at the
A University of Pennsylvania to join the
McDonough School faculty in 1996.
He specializes in strategic management with
research interests in knowledge management,
the competitiveness of firms, and high-tech
regions in the semiconductor, biotechnology,
and software industries. He is a recipient of the
Joseph F. Le Moine Award for Graduate and
Undergraduate Teaching Excellence and the
Best Professor Award for
Executive Programs at
Georgetown University.
Almeida has written
numerous research arti-
cles that have been pub-
lished in Management
Science, Organization Sci-
ence, Strategic Manage-
ment Journal, Research
Policy, International Paul Almeida
Business Review, Small Business Economics, and
other scholarly outlets. He is co-writing a vol-
ume titled Managing Knowledge in the 21st Cen-
tury. He is a member of the Academy of Man-
agement, Academy of International Business,
and Strategic Management Society.
In India, he received a B.E. in electrical
engineering at the University of Poona and an
M.B.A. from the Indian Institute of Manage-
ment. He holds M.A. and Ph.D. degrees from
The Wharton School.
insley joined the faculty in 1996 as an
T expert in negotiations, conflict manage-
ment, and dispute resolution. She is a
member of the editorial boards of The Academy
of Management Journal and International Negoti-
ations: A Journal of Theory and Practice. She has
written research articles that have appeared in
numerous scholarly journals, including Journal of
Delta Airlines Gives
Applied Psychology, Journal of International Business
$50,000 to Center
Studies, Research on Negotiations in Organiza-
tions, Applied Psychol- James Swartz (left), Director of
ogy, and International Corporate Safety at Delta Airlines,
Perspectives on Organi- presented, John Mayo, Dean and
zational Justice. She is a Executive Director of the Center
board member of the
for Business and Public Policy,
International Associa-
with a $50,000 check in support
tion of Conflict Man-
of the Center in July 2002. Delta
agement and the Con-
flict Division of the was a founding sponsor of the
Academy of Manage- Center which will host the third
Catherine H. Tinsley ment. Tinsley also Workplace Safety Summit at
serves as a faculty affiliate at the School for Georgetown this spring.
Advanced International Studies at Johns Hopkins
University and at the Center for Peace and
Security Studies at the School of Foreign Service
at Georgetown University. She conducts negoti-
ations and dispute resolution training seminars
for executive education programs at business
schools in the United States and abroad.
Tinsley received a B.A. in anthropology
from Bryn Mawr College, and M.A. and Ph.D.
degrees from Northwestern University.
Winter 2003 3
Inside Information

D.C. Chamber of Commerce Honors MSB Professor Ten M.B.A. Students

Named Connelly Scholars
rofessor Robert J. Bies was presented formed a partnership

P
The selection committee for the
with the Community Service Award with Dominic John F. Connelly M.B.A. Scholar-
from the D.C. Chamber of Commerce Moulden, executive ship program, funded by the
at their annual Business Awards Dinner on director of Manna
Connelly Foundation of Philadel-
November 2. CDC, in which his
phia, named 10 students as Con-
Bies received the award for his work with students would facili-
MSB students and the Manna Community tate Manna CDCs nelly Scholars. They are Herbert

Development Corporation to stimulate positive work with the MCI Caudill, Carla Gallelli, Risha Hess,
change and economic growth benefiting the his- Center, the Wash- Andrew Madden, and Christian
toric Shaw neighborhood and Washington., D.C. ington Convention Tietzsch (Class of 2003) and
Since 2000, he has guided over 100 under- Center Authority, Rodrigo DeLaRocha, Kenneth
Robert J. Bies
graduate students to work with Manna CDC on and Shaw neighbor-
Lim, Michelle Magrans, Emilian
economic development programs. Using their hood businesses. One of their new projects is
Marinov, and Mary Jo Slidell
business training and analytical skills, the stu- designing plans for the Main Street commercial
dents have assisted in developing business plans mix for the 7th and 9th Street corridors. (Class of 2004).

for the Shaw Heritage Tour and Gift Shop, the
Chain Reaction Youth Bike Shop, and Maggie
Moos ice cream parlor soon
opening near the new Con-
The Honorable Anthony A. Williams,
Connelly Scholarships are
Mayor of the District of Columbia, spoke at the
awarded to highly motivated
Business Awards Dinner, which was attended by
over 1,000 area decision makers. Awards were students who have overcome

vention Center. They also cre-
ated a marketing strategy for
SINGA, a textile training
center, and a Web site for Manna CDC.
Believing in the importance of engaging
students in community service projects, Bies
also presented to the general contracting com- personal obstacles, and show
pany, Gilford Corporation, for Small Business of promise to succeed and strength
the Year; Verizon Washington, D.C. for the to help others. Connelly Scholars
Business of the Year; and Franklin D. Raines, were named for the first time
Chairman and CFO of Fannie Mae, for Busi-
last year, and five new scholars
ness Leader of the Year.
will be selected annually.

Dean John Mayo with Mr. and Mrs. James Orthwein, co-chairs of the
Parents Advisory Council. The Council met on November 1 during Parents Weekend
activities to hear and discuss reports on student life issues, curriculum, academic
advising, and the capital campaign.

4 The McDonough School of Business


McDonough Holds Top 30
Position In Business
Weeks MBA Ranking
Business Weeks biannual rank-
ing of the best b-schools
(October 21, 2002) listed the
McDonough School in 30th
position, a slight drop from its
26th place in 2000. The drop is
attributed to factors concern-
ing career opportunities in the
lagging job market.
Northwesterns Kellogg
School regained first place, fol-
lowed (in order) by Chicago,
Harvard, Stanford, Wharton
(Pennsylvania), Sloan (MIT),
Columbia, Michigan, Fuqua
(Duke), and Tuck (Dart-
mouth) to form the Top 10.
The magazine conducted
polls of corporate recruiters
with 52 percent responding
(down from 59 percent in 2000)
and 2002 M.B.A. graduates
with 68 percent responding
(up from 60 percent in 2000).
It also reported that average
pay packages among the Top
30 were 12.6 percent lower
than in 2000 ($110,970 from
$126,000 two years ago).
Two Other Ranking
Results Reported
The Wall Street Journal, in
their second ranking of the
Top 50 Business Schools
(September 9, 2002), excluded
the McDonough School again
this year because of a low
response from recruiters. The
paper based the rankings on
surveys from 2,221 recruiters
who rated business schools on
26 attributes.
The Top 10 finishers
were: Tuck (Dartmouth),
Michigan, Carnegie Mellon,
Kellogg (Northwestern),
Wharton (Pennsylvania),
Chicago, Texas at Austin, Yale,
Harvard, and Columbia.
Unfortunately, The
McDonough School was also
excluded from the Financial
Times (October 14, 2002)
ranking of the top 50 IEMBA
programs because of an inade-
quate response from the grad-
uate poll. Last year
McDonough was ranked 13th
among U.S. executive M.B.A.
programs and 22nd globally.
The top ranked IEMBA pro-
grams this year were: Wharton
(Pennsylvania), Columbia,
Stern (New York University),
London Business School,
Instituto de Empresa, Fuqua
(Duke), Chicago, Kellogg
(Northwestern), GSBA
Zurich, and Goizueta
(Emory).
Conferences and Events
MBAs Gather for Net Impact Conference
The 10th Annual Net Impact Conference hosted by four area
business schools drew over 900 MBA students, alumni, and faculty
to Georgetown University on October 25 to 27 to discuss Part-
nering to Create Social Value. Net Impact is a network of emerg-
ing business leaders committed to using the power of business to
create a better world.
A design team of 12 MBA students from Georgetown,
American University, George Washington University, and the
University of Maryland planned the event with the help of volun-
teers from Net Impact chapters, other students, and faculty.
Net ImpactStudents for Responsible Business is one of
our largest MBA student clubs with over 100 members and with
additional members from the School of
Foreign Service, said Colleen M. Arons
(C97, MBA 03), president of the MBA
chapter at McDonough.
Joining the participants were over 100
speakers and panelists. Four keynote
addresses were delivered by executives
from Hewlett Packard, Fannie Mae Foun-
dation, British Petroleum, and Ben &
Jerrys. Participants and speakers explored
corporate social responsibility issues in five
areas: environment, business and public policy, international, social
entrepreneurship, and current events.
Ben Cohen, founder of Ben & Jerrys, spoke on the changing
landscape of entrepreneurship, business growth, and corporate
social responsibility. In 1993, he was the keynote speaker for the
initial conference of Students for Responsible Business, Net
Impacts predecessor, held at Georgetown.
As the host for Saturdays session, Georgetown led the busi-
ness and public policy track with a corporate governance panel
that included leaders from the Security Exchange Commission,
the U.S. Senate, KPMG, and the NASD. The exhibition hall was
one of the most popular and successful aspects of the Conference
with over 100 exhibitors ready to explain the career options and
social responsibility policies of their companies.
It is vital that students understand the ethical responsibilities
that society expects from business leaders, the opportunities cre-
ated by these expectations, and the competitive constraints under
which business operates, said Professor Dale Murphy, Landegger
Program in International Business Diplomacy, who serves as fac-
ulty board member for Net Impact.
Winter 2003 5
Inside Information
Credit Research Center
Holds Subprime Lending
Conference
The McDonough Schools Credit
Research Center hosted the Sub-
prime Lending Symposium on
September 17. Professor and
Director of the Credit Research
Center Michael E. Staten and
George Washington Professor of
Economics Anthony Yezer, a mem-
ber of the CRC advisory council,
organized the conference which
featured 11 new research papers.
Other CRC advisory council mem-
bers who participated included
Thomas Durkin of the Federal
Reserve Board; James Barth of
Auburn University and the Milken
Institute; and Gregory Elliehausen
of Georgetown University. Over
130 people attended, representing
federal agencies, industry trade
associations, financial services
firms, and Washington-area think
tanks and universities. The edited
proceedings will be published in
the Journal of Real Estate Finance
and Economics in 2003.
6 The McDonough School of Business
International Management Program at Oxford University
ixty-two students attended McDonough
S summer programs at the University of
Oxford from June 28 to August 7. The
Undergraduate Oxford Summer Program, with
36 students, was led by Ann-Mary Kapusta,
associate dean and director of undergraduate
programs. The Graduate Oxford Summer Pro-
gram in International Management, with 20
MBA and six MPP students, was directed by
Professor Robert M. Grant.
Both programs consisted of lectures, tutori-
als, and site visits to companies and British land-
marks. Students were lodged in Trinity College,
where they could experience and participate fully
in the academic life at Oxford, including weekly
invitations to High Table nights, featuring
talks by distinguished guest speakers followed by
dinner in the Trinity dining room.
Undergraduates took two courses: Compar-
ative Strategic Management, with course tutor
and economist David Faulkner, a Fellow at
Christ Church College, and International
Finance, taught by Adrian Buckley, international
finance professor at the Cranfield School of
Management. They made site visits to Goldman
Sachs, Gucci, Lloyds of London, PriceWater-
houseCoopers, and Royal & Sun Alliance.
The Oxford experience, from tutorials to
trips to London, is unique and challenging; a
rewarding addition to a Georgetown education,
says Laura R. Wilkicki (MSB03).
The graduate students participated in tuto-
rials taught by faculty from British business
schools, members of the British Parliament, and
executives from major international companies.
Conferences and Events
Limited to three students only, the tutorials cov-
ered a broad range of subjects, including The
British National Health System, Economic and
Political Aspects of Globalization, Private
Equity and Venture Capital in Europe, and
Comparative Financial Systems. In addition,
students were required to write an independent
research paper and present it to a panel of tutors.
Site visits included Barclays Capital, Lloyds of
London, and the Houses of Parliament.
Some Georgetown alumni in the area
assisted with the graduate student instruction,
joined the graduates at a lawn party at the Royal
Henley Regatta, and attended a 4th of July bar-
becue at Grants house in London. Additional
highlights of the program were day trips to
nearby cities and evenings at the theatre.
Both Oxford the University and Oxford
the city are incredible. I am so happy I had the
opportunity to study there. It truly was a once-
in-a-lifetime experience that I will never forget!
says Jonathan I. Wainberg (MBA03).
McDonough School
Distinguished Speaker Series
November 14, 2002
Warren E. Buffett
CEO of Berkshire Hathaway
November 20, 2002
Robert M. Kimmitt (L77)
Executive Vice President, Global &
Strategic Policy
AOL-Time Warner
(former U.S. Ambassador to Germany)
February 12, 2003
Philip A. Marineau (C68)
President & CEO
Levi Strauss & Company
McDonough Hosts International
Climate Change Workshop
he Centre for European Policy Studies
T (CEPS) in Brussels, the Fondazione Eni
Enrico Mattei (FEEM) of Italy, and the
McDonough School have initiated The Trans-
atlantic Dialogue on Climate Change, a series
of workshops on climate change issues between
Europe and North America. Workshop II: Next
Steps towards Greater Cooperation was held at
the McDonough School on June 27.
The one-day conference, coordinated by
Associate Professor Thomas L. Brewer, was
attended by over 50 business and government
representatives from Europe and the United
States. Brewer, editor of the Journal of Interna-
tional Business Studies, serves as Associate
Research Fellow for CEPS.
The workshop provided a forum to advance
transatlantic cooperation on climate change
issues by identifying linkages and by developing
an agenda of next steps. The conference was sup-
ported by the German Marshall Fund of the
United States, an institution that fosters ideas
and cooperation between the U.S. and Europe in
the spirit of the postwar Marshall Plan.
Featured speakers included Heidi Hautala,
member of the European Parliament, Ulrich
Federspiel, Danish ambassador to the United
States, and Charles Nicholson, corporate vice
president of British Petroleum.
Brewer welcomed the guests and introduced
Hautalas opening speech, Next Steps Toward a
More Constructive Transatlantic Engagement
on Climate Issues. Hautala guided the proposed
European Union greenhouse gas emission trading
system in the Parliament.
Federspiel, whose country now holds the
presidency of the EU, addressed Emissions
Trading in Denmarka Template for Business?
Known in Europe and the United States for
his central role in creating the United Kingdoms
greenhouse gas emission trading system, Nichol-
son gave a welcoming address to the attendees on
the evening of June 26.
For more information, please visit:
http://www.ceps.be/climate-dialogue.php
Catherine Smith of ING Group
Transatlantic Business Ethics Conference Summary
by Professor George G. Brenkert, Director of the Georgetown Business Ethics Institute
ow are accounting issues sur-
H rounding the current corpo-
rate scandals seen in Europe?
What should corporations do when
faced with demands for facilitating pay-
ments? What are the bedrock concerns
of business ethics?
These are some of the issues that
were discussed at the Transatlantic
Business Ethics Conference, hosted by
the Georgetown Business Ethics Insti-
tute, on September 27 to 29. Levi
Strauss & Co. and ING Group were
sponsors. Leaders in business ethics and
corporate social responsibility from uni-
versities in Europe (including Cam-
bridge, Budapest University of Eco-
nomic Sciences, and ESADE) and the
United States (Pennsylvania, Notre
Dame, Minnesota, and Georgetown),
prominent businesses (including Levi
Strauss & Co., ING Group, DuPont,
Timberland, and Lockheed Martin),
and non-governmental organizations
(Ethics Resource Center, the Confer-
ence Board, the Ethics Officer Associa-
tion, and SustainAbility) attended and
gave presentations on the general topic
of Corporate Integrity and Account-
Bruce Moats of Levi Strauss & Co.
ability. Under this general heading, ses-
sion discussions included: Corruption,
Globalization and Ethics, Accounting
Standards and Financial Reporting,
and Responsibility to the Environment:
Natural and Human.
George Kell, executive head of the
U.N. Global Company for Business,
gave the keynote address Saturday
evening in Riggs Library.
Among the underlying themes
were the different approaches to busi-
ness ethics in North America and
Europe; the relations of individual ethics,
business and social systems; and the
challenges of finding ways to address
the conditions that have given rise to
corporate scandals and charges of ethi-
cal failure.
At the conclusion, a group of
attendees met and formed the Transat-
lantic Business Ethics Forum, which
will meet again in Barcelona, Spain in
September 2004 and continue bringing
together leaders in business ethics and
social responsibility from universities,
businesses, and NGOs to address cen-
tral problems of business ethics.
Winter 2003 7
Inside Information
Conferences and Events
Georgetown University and MSB Host Helsinki Women Business Leaders Summit MBA Class of 2004
Applications 2900

ifty women business leaders from Esto- sustainable democracies and lasting peace, said Enrolled 269

F nia, Finland, Latvia, Lithuania, and

northwestern Russia joined 50 women
business leaders from the United States at
Professor Catherine Tinsley, who attended the
first phase of the Summit in Finland in Septem-
ber, and was integral in developing the subse-
Mean Age

Male

Female
28

67%

33%
Georgetown University for the Washington quent program at Georgetown.
U.S. Minority 15%
Program of the Helsinki Women Business MSB Professors Ilkka Ronkainen, Elaine
International 35%
Leaders Summit on November 13 to 15. The Romanelli, and Tinsley led sessions on Turning
Mean GMAT 663
Helsinki Women Business Leaders Summit Obstacles into Opportunities, Global Growth
constitutes the largest U.S.-Finnish public-pri- Strategies, and Ethical Decisions. Also partici- Mean GPA 3.3

vate sector outreach program in history.
The Helsinki Summit is key in establish-
ing connections between the U.S. and Baltic
region businesses, said U.S. Ambassador to
Finland Bonnie McElveen-Hunter. Through
person-to-person diplomacy, we hope to
strengthen economies, increase opportunities for
creating new jobs, and nurture long-term cross-
border prosperity.
Three McDonough School professors
served as panel discussion leaders. Georgetown
University was proud to host the Washington
phase of this unprecedented opportunity for
women executives from the Baltic Rim region to
learn best practices and management skills from
each other and from our outstanding faculty,
said MSB Dean John Mayo. Our international
character and Catholic and Jesuit traditions
make the McDonough School of Business
uniquely equipped to provide an open and col-
laborative learning environment.
The U.S. Department of State and the gov-
ernment of Finland spearheaded this effort to
promote a greater understanding of opportuni-
ties for trade, commerce, and free market
economies. Through promoting and enabling
womens economic opportunities we develop
pating at the Summit were Supreme Court Jus-
tice Sandra Day OConnor, Under Secretary of Undergrad Class of 2006
State for Public Affairs and Public Diplomacy Applications 2,363
Charlotte Beers, Assistant Secretary of State for Enrolled 296
Education and Cultural Affairs Patricia Harri- Transfers 46
son, Calvert Group CEO Barbara Krumsiek,
Mean SAT 1326
and former Ambassador to the Netherlands
Cynthia Schneider.
Geographic Representation:
Participants reflected together on their
34 states and 23 countries
experiences throughout the Summit. They also
received a White House briefing and met Presi-
dent George W. Bush and National Security
Advisor Condoleezza Rice, and attended a
reception at the State Department, hosted by
Under Secretary of State Paul Dobrianki, with
remarks by Deputy Secretary of State Richard
Armitage and a meeting with Secretary of State
Colin Powell.

8 The McDonough School of Business

New Dean
Leads McDonough
With Experience
and Vision
by Tom Price
 John W. Mayo
Professor of economics, business and
public policy and founding Director of the
McDonough Schools Center for Business
and Public Policyhas been named to a
two-year term as McDonough School
Dean. He took office in August, after for-
mer Dean Christopher P. Puto left to head
the University of St. Thomas Business
College in Minneapolis.
In announcing the appointment, Uni-
versity President John J. DeGioia called
Mayo a distinguished and respected
member of the faculty. Georgetown
Provost James J. ODonnell said Mayo is a
first-rate scholar and teacher, is a great citi-
zen of MSB and Georgetown, and has a
great grasp of what needs doing in and for
the school and the university during the
next two years. He said many
McDonough faculty and staff recom-
mended Mayos appointment.
Acquiring a new building for the
school, continuing to grow the faculty and
staff, and continuing to enhance the
schools prestige are among the key chal-
lenges that McDonough will face in the
coming months, Mayo said.
Im very optimistic we will get a go Dean John W. Mayo in Riggs Library
in February from our board of directors for
construction of a beautiful new, state-of- What the new building will look like What is the right size of the new facility?
the-art facility, Mayo said. Also on tap is and exactly how the faculty and staff will
What undergraduate curricular changes are
faculty and staff expansion to reach a level grow are among major decisions the school
needed for the undergraduate program to be
that is commensurate with the very best and university must make, Mayo said.
unquestionably among the leading business
programs in the country. As rapidly as we Faculty and staff expansion certainly is
schools in this country?
have grown, he said, we continue to be going to happen, he explained, but we
under-positioned relative to the other top- need to rationalize why we need to expand What curricular and staffing changes are
tier business schools. and where we need to expand. needed at the graduate level to position the
He said a faculty/staff strategy and school as a premier, distinguished graduate
accreditation committee is looking at such school of business?
questions as:

10 The McDonough School of Business


Do we focus more attention on executive
education?
Do we begin a part-time MBA program?
Do we expand our full-time MBA program?
Do we look to expand our international
programs?
The high significance of those ques-
tions is one reason his appointment to a
two-year term makes sense, Mayo said.
The credibility of those decisions
the commitment to those decisions
would have been subject to too much
questioning if there were an interim dean
in place.
The two-year term carries more
weight than an interim appointment, he
said. And it gives the university flexibility
to take its time in making a longer-term
choice.
Im very optimistic
we will get a go in February
from our board of directors
for construction of a beautiful
new, state-of-the-art facility,
Mayo said.
ayo came to Georgetown in
M 1997, attracted in part by
McDonoughs commitment to
promoting ethical business practices and
its accessibility to the federal agencies he
studies.
We strive to produce students who
are not only well trained in all the techni-
cal business disciplines of marketing,
finance, operations and the others, but who
also will be principled business leaders,
Mayo said. At Georgetown, the phrase
business ethics has never been an oxy-
moron that it appears to be in some busi-
ness circles.
The fact that Georgetown University
is 15 minutes away from the Federal Com-
munications Commission, the Justice
Departments Antitrust Division, and the
Federal Trade Commission makes this
place very desirable from my perspective. It
means I can be at an academic institution,
with the time to reflect seriously on public
policy issues that affect businesses, and I
have the physical proximity to those public
policy institutions.
Winter 2003 11

ayo served as Senior Associate
M Dean of McDonough from
1999 to 2001. Early in 2002,
he launched the Center for Business and
Public Policy, which fosters research in the
field and organizes dialogues among schol-
ars, business executives, labor leaders, gov-
ernment officials and nonprofit organiza-
12 The McDonough School of Business
tions. Focusing initially on workplace
safety, the center in April attracted more
than 100 senior-level participants to the
first of what are to be annual safety sum-
mits. Because of his expertise in work-
place safety issues, Mayo recently was
named Vice President for Educational
Resources on the National Safety Council
Board of Directors. During his deanship,
Mayo will be the policy Centers Executive
Director, while Professor N. Lamar Rein-
sch, Jr. helps to run the day-to-day activi-
ties as director.
Mayo also is a Zaeslin Fellow of Law
and Economics at Switzerlands University
of Basel. In that role, he lectures in
Switzerland on U.S. regulatory policies. In
return, the program sends Swiss scholars
to interact with students and faculty at
Georgetown.
Swiss scholars are extraordinarily
eager to learn about the United States eco-
nomic and legal system, Mayo said. His
visits to Basel combined with the Swiss
visits to Georgetown enrich the lives of all
the parties, he added.
Students and faculty said Mayo has
demonstrated qualities needed by an effec-
tive dean.
Dr. Joseph Mazzola, Professor and
Executive Dean of Faculty at McDon-
ough, called Mayo a creative thinker who
is well respected as an academic scholar
and has proven to be an effective adminis-
trator in the senior associate deans office
and in forming and directing the Center
for Business and Public Policy.
Hes extremely effective in forming
consensus around difficult issues, Mazzola
said. He is an effective communicator
with outside constituencies.
Similarly, John H. Zouck (MBA00)
said Mayos leadership of one-week inte-
grative experiences for students proved
him to be an excellent administrator and
manager and organizer. As a teacher,
Zouck said, Mayo is generally good-
natured and helpful.
 I think he understands how things has written more than 35 articles that have Acquiring a new building for
work, so to speak, so he can make sure that appeared in such publications as the Rand
the right people are involved and that Journal of Economics and the Yale Journal of the school, continuing to grow the
things come off well, said Zouck, a senior Regulation. He is coauthor of six books and
faculty and staff, and continuing
category purchasing manager at US Air- monographs, including the comprehensive
ways. I think hes generally a very open, text, Government and Business: The Eco- to enhance the schools prestige
receptive, friendly person who is excellent nomics of Antitrust and Regulation.
at reaching out to people. I think he will be Mayo is an outdoors enthusiast, who are among the key challenges
able to work with the different constituen- enjoys fly fishing, hiking, white-water
ciesstudents, faculty, employers. canoeing, and tennis.
that McDonough will face in the
Michelle Garam (B01), who was coming months, Mayo said.
Mayos undergraduate research assistant
for two and a half years, called him a ter-
rific boss who treats students with a lot of
respect. Garam, a production assistant
with the television comedy Still Standing,
said Mayo is a very kind and sincere man
who is really dedicated to the school.
Mayo was born in Colorado Springs
and was reared in several communities as
his father, a U.S. Air Force officer, was
assigned to various military bases. He
earned a bachelors degree in economics at
Hendrix College in Arkansas, and masters
and Ph.D. degrees in economics at Wash-
ington University in St. Louis.
Mayo taught at Washington Univer-
sity, Virginia Tech and the University of
Tennessee and served as chief economist
for the U.S. Senate Small Business Com-
mittee. He has been an advisor and consul-
tant to numerous public and private orga-
nizations, including the Justice
Department, Energy Department, Federal
Trade Commission, Tennessee Valley
Authority, AT&T, MCI, and Sprint. He
has testified before state and federal leg-
islative and regulatory bodies on such top-
ics as monopoly, price-fixing, mergers and
regulatory pricing policy.
His research interests include indus-
trial organization, regulatory and antitrust
policy, and applied microeconomics. He

Winter 2003 13
 New Director Advances Career Services
cDonoughs new MBA
M career management direc-
tor doesnt fret about the
state of the economy.
If youre playing poker, you play with
the hand youre dealt, Assistant Dean
James Dixey said. We have a hand were
dealt, and we have to play it.
Dixeywho was associate director of
the university career center before moving
to McDonough in Augustacknow-
ledged that job-hunting is tougher now
than during the 90s boom. Preparation
and flexibility will lead to employment,
however, he added.
James Dixey, Assistant Dean and Director of MBA Career Management.
14 The McDonough School of Business
If a student is focused on a specific
positionI have to be an investment
banker at CSFB or Goldman in New York
working on emerging marketsit is
tough, Dixey said. Youre going to be
competing for a limited number of positions.
If the student comes in here and says
Im really open to the opportunities avail-
able to MBA students and I would be will-
ing to go anywhere, then there are more
opportunities. When one sector is down,
something else is strong. We need to focus
where the growth is.
The career management office is not
called a placement office because I dont
place students, Dixey said. Its not my
responsibility or the charge of
the staff to find a job for a stu-
dent. The offices tasks are to
find opportunities that the
students can compete for and
to prepare the students to
compete effectively, he said.
To prepare students, Dixey
said, We need to be available
to guide them in the process,
review their resumes, give
them advice, provide pointers
on anything they need to be
doing from the moment they
set foot on this campus till the
day they walk out the door.
Career management person-
nel also go into the broad
employer community
The offices tasks are to find opportunities
that the students can compete for and to prepare the students
to compete effectively...
by Tom Price
governments, nonprofits, for-profitsand
seek out every possible hiring organization
that might have an interest in our students
and get those opportunities before our
students.
Dixey and his assistants have prepared
an ambitious plan for maintaining relations
with employers that consistently recruit at
McDonough, going back to employers
who recruited in the past but havent done
so recently, and reaching out to companies
that never have recruited MBAs at
Georgetown. Amy McNamara, Director
of Employer Development and Recruiting,
is traveling extensivelyacross the United
States and overseasto implement the
plan. The office also is working to attract
more recruiters from the Washington area.
In the future, Dixey wants to enlist
more alums as mentors to students and as
advisers to the career management staff.
Theres no better counselor for a stu-
dent than an alum who has gone through
the process, Dixey said. They also can
keep us up to speed as to changes in their
organizations.
Were not going to win the game by
ourselves. We need alumni to understand
that theyre critical to our success.
Before coming to Georgetown, Dixey
spent much of his career in aviation, work-
ing for Pan American, heading human
resources at Northwest and co-founding
an international aviation and aerospace
consulting firm.
Chaplain Ministers to B-School Students by Tom Price

cDonough Business

M School Chaplain James

English, S.J., figures his
job description was written
nearly half a millennium ago by the founder
of the Society of Jesus, Saint Ignatius
of Loyola.
Ignatius continually asked (his fol-
lower) Francis Xavier a question, Father
English explained. What does it benefit
a man to gain the whole world and suffer
the loss of his immortal soul? I believe that
is a massively important question that has
to be reiterated as young men and women
are shaped into professional people in our
culturewhere the point is to gain the
whole world and everything it has to offer,
and the cost many times is your human
Father English invading the lives of students.
integrity.
Its especially important in the busi- We try very hard to
ness school, he said, because temptation to
do wrong is high in business, as recent main floor is an excellent perch from give our business students
scandals have demonstrated. which to work, he said. He likes to wander
As business becomes less and less around campus, invading the lives of stu-
a sense of integrity as
personal, the need for integrity can become dents, and he often sets up shop on a something you never
less and less obvious, English said. For bench outside Healy. He invites a half-
managers in large corporations today, the dozen students to dinner in the Jesuit part with.
people who are going to be hurt (by corpo- Communitys dining facility each Monday
rate misconduct) are very remote from night, then asks one guest to pick the din-
you, so its easy to ignore their interests. ers for the next week. He spoke to convo- English tells students that he occupies
We try very hard to give our business stu- cations of both undergrad and MBA stu- a unique station on campus:
dents a sense of integrity as something you dents at the beginning of the current I am not a member of the adminis-
never part with. school year. He is organizing off-campus tration. I am not a member of the faculty.
English is among 35 chaplains who retreats for business students. He invites I make no judgments here. I give no marks.
serve the university, including some who other chaplains to join him at MBA break- I dont make assignments. I dont add to
focus on the Law and Medical schools. fasts, so Protestant, Orthodox Catholic, the pressures under which they live. Im a
As a senior Roman Catholic chaplain, he Jewish, and Muslim students will see they person in a place where the pressure can be
focuses on business students while minis- have chaplains on campus as well. put down for a while and where a larger
tering to the entire campus. In individual meetings with their issue of what its all about can be addressed.
Since arriving at the start of the chaplain, business students tend to seek
200102 school year, English has worked counsel about the ordinary human com-
to make himself known to his flock. His plexity that we all deal with, English said.
corner office at the front of Healy Halls They live in the business world, but they
have much larger worlds, too.

Winter 2003 15
 Managing Political Risk with
usinesses manage invest-

B ment risks in emerging

markets in many different
ways. They perform risk
analysis in advance. They
engage in hedging investments. They bal-
ance geographic risks, develop alternative
suppliers and buyers, and take advantage of
financial derivatives to offset foreign
exchange, inflation, credit ratings deterio-
ration, and other macroeconomic fluctua-
tions. They bring in powerful groups from
around the world as investors or guaran-
tors, to exert political pressure on
obstreperous host firms or governments.
They create incentives such as revenue-
contingent fees, so that governments and
other groups have a stake in the projects
success. They securitize future earnings
and syndicate risk. They insist on contracts Professor Murphy in Red Square in front of the International Culture Center

with mandatory neutral arbitration clauses.

They cultivate ties with host governments,
opposition movements, and broader
publics. They develop their bargaining
power through control of technology,
phased-in future investments, and employ-
ment promises. And, they buy political risk
insurance (PRI), the focus of this article.
Public and private sector firms offer
PRI on the premise that they will have a
legal basis to pursue recovery against the
host government, should they ever be
required to compensate the insured.
Increasingly, they act in conjunction with
project-finance lenders. The World Banks
Multilateral Investment Guarantee
Agency (MIGA) and the U.S. Overseas
Private Investment Corporation (OPIC)
are the two largest government insurers.
Unlike commonly held views that the
public sector is an inefficient and lethargic
bureaucracy, OPIC and MIGA have been
leading innovators in the PRI market.
There are also dozens of private insurers
ranging from broad-based firms such as
Lloyds or AIG, to specialized units such
as Marsh Credit, Zurich EMS, Sovereign
Risk Insurance Ltd., Ascot Underwriting,
Willis Group, Gallagher & Co, and
lenders such as Banc of America Securities.
Political Risk Insurance (PRI)
after 9/11/01
In the climate of uncertainty following
9/11, PRI has taken on new forms and a
renewed significance. It is still an evolving
industry. Risk insurance is unregulated and
there are few comprehensive data sets
about claims with which to evaluate pre-
miums and risks. The insurance and rein-
surance industries faced their largest losses
ever in 2001, with the tragic events of 9/11
(costing some $40$90 billion), the
unprecedented collapse of the power-
house Argentine economy, and the major
corporate accounting scandals in the US.
Participants in a recent symposium on
political risk, hosted at Georgetown Uni-
versity by Professor Theodore Moran and
Gerald West of MIGA, noted that these
effects have not yet fully played out. World
financial markets are still coping with the
aftershocks of 9/11 and the interconnec-
tions between competing financial interests.
Insurance coverage capacity has been
reduced, even as ratings of major re-insurers
have fallen.
In the aftermath of 9/11, most blanket
insurance policies exclude terrorism cover-
age. Terrorism risk is now sold as a stand
alone product, like other catastrophe cov-
erages, with strict definitions of coverage,
limits of loss aggregation, and geographical
diversification. Despite rising prices, for
the year of 2002, roughly $1 billion in pre-
miums was paid for stand alone terrorism
coverage.

16 The McDonough School of Business

Political Risk Insurance
Rising Prices
The declining supply of risk insurance has
raised the premiums for insurance on acts
of violence, shortened tenors, and
restricted coverage. Already, rates for war
or terrorism have skyrocketed. One firm
reports an increase from $1.5 million to $8
million for the same coverage. Rates have
doubled in the property and energy sec-
tors. Demand for risk insurance is often
inelastic with regard to price. Because risk-
insurance is a prerequisite for some
lenders, a number of investments have
been delayed. Still, there is more political
risk coverage available now than 10 years
ago, and prices on traditional risks such as
expropriation, non-delivery, or contract
frustration have been stable. There are also
more players around the world, in both the
public and private sectors.
Uncertainty over country-ratings adds
to upward pressure on insurance prices.
Ratings agencies are in a dilemma. If they
issue precautionary ratings adjustments,
they may add to pressures that degrade
credit quality, in a self-fulfilling prophecy.
But if they wait until after events occur, it
is often too late for investors to take pro-
tective action.
Regional Variations
Worldwide, the stock of foreign direct
investments (FDI) increased four-fold
from 1990 to 2001, from $1.7 trillion to
$6.6 trillion. One-third of this went into
emerging markets. But global foreign
direct investment flows fell by half from
2000 to 2001. Perhaps surprisingly, most
of that drop was in Organization for Eco-
nomic Corporation and Development
countries, which saw a 59% decrease in
FDI inflows. FDI to emerging markets fell
just 14%. Investments continue to flow
into China, Mexico and South Africa.
FDI actually tripled in some unusual host
countries, including South Africa,
Morocco, Algeria, and Croatia. Mexico
and Russia also received significant invest-
ment growth. Energy and telecommunica-
tions projects led FDI in the 1990s, but
many investors in these sectors have now
divested. Investors are shoring up their
capital structures at home, and lenders are
tightening credit standards.
Uncertainty remains especially high
throughout the Muslim world (including
Indonesia), with its 1.2 billion consumers.
The cycle of violence in the Mideast feeds
this uncertainty. Unlike natural catastrophes
that are economically blind, the Al Qaeda
network has intentionally targeted eco-
nomic vulnerabilities. Despite the horror
of these events, terrorists ability to directly
impede business is limited, as a percentage
of world economic activity. Their ability to
create fear depends on leadership in gov-
ernment and the private sector. The war
on terror, the hullabaloo over the pre-
emptive overthrow of the Iraqi govern-
ment, and concern over proliferation of
massively destructive weapons have dis-
tracted top U.S. policy-makers from eco-
nomic issues in Latin America and other
non-threatening emerging markets.
Concern is high for Argentinas
neighbors, especially Brazil, and for
Turkey, with fears of contagion elsewhere.
For underwriters, the worst-case scenario
is a complete country meltdown, as
recently occurred in Argentina, with its
default, devaluation, and banking collapse.
For that reason, in large economies such as
China, Brazil, Russia, and Indonesia,
underwriters syndicate coverage, and also
limit their total country exposure.
by Dale Murphy, Ph.D.
The View from Emerging Markets
The combination of badly managed
domestic politics and international rules
set by entrenched interests in powerful
countries has contributed to steadily wors-
ening global wealth inequalities over the
past 200 years. Communications technolo-
gies and other aspects of globalization have
heightened the awareness of these wealth
gaps (Baywatch is the most-watched show
in the world, for example), but have not
reduced them. The perception of being
left behind, even as traditional social
institutions such as family roles, villages
and religions are eroded, has broadened
popular support for reactionary political
movements. These exacerbate instability
and political risks.
PRI sometimes acts to strengthen
the negotiating hand of foreign firms (and
their home governments) over emerging-
market governments, a fact that is not
usually welcomed. But it can also act to
appease the concerns of nervous investors,
help them achieve investment-grade ratings,
and improve the investment climate.
Whatever the merits of these percep-
tions or the causes of political instability in
emerging markets, the result is that some
method of managing political risks is
essential. Emerging market governments
must create a stable climate for the contin-
ued flow of capital and technology that
they require for growth. Smart managers
combine a wide variety of methods to mit-
igate risk. At a turbulent time in the world,
PRI is a thriving industry.
Dale Murphy is Assistant Professor, Landegger
Program in International Business Diplomacy. He
teaches students in the McDonough School of Business
and the Walsh School of Foreign Service. He is the
author of a forthcoming book from Oxford University
Press on international regulatory advantage.
Winter 2003 17
Achievements
FACULTY

Professor Reena Aggarwals article,

Demutualization and Corporate Gover-
nance of Stock Exchanges, was published
in the Journal of Applied Corporate Finance,
Spring 2002, Vol. 15, No. 1. She has also
written Allocation of Initial Public Offer-
ings and Flipping Activity, forthcoming
in the Journal of Financial Economics. She
presented a paper, Ownership Structure
and Initial Public Offerings, (with Leora
Klapper of the World Bank) at the Finan-
cial Management Association Annual
Meeting in San Antonio in October 2002
and at the Georgia Tech/Fortis Interna-
tional Finance Conference in Atlanta in
April 2002. She presented a paper entitled
Portfolio Preferences of Foreign Institu-
tional Investors, (with Leora Klapper of
the World Bank and Peter Wysocki of Professor Ken S. Cavalluzzo had two method for estimating cost uncertainties
MIT) at the University of Florida in papers published in 2002. Competition, for large, complex projects, combining the
October 2002, and at Yale University and Small Business Financing and Discrimina- principles of probabilistic risk analysis with
the University of Alabama in November tion: Evidence from a New Survey, Jour- procedures for expert elicitation to incor-
2002. nal of Business, October 2002, with co- porate uncertainties and extraordinary
Professor Alan R. Andreasen is the authors Linda Cavalluzzo (CNA Corp.) events in cost estimates. The Department
author of two recently published books: and John Wolken (Federal Reserve) exam- of Energy implemented the process to
Marketing Research That Wont Break the ined access to credit by minority-owned select a new tritium supply source.
Bank, (San Francisco: Jossey-Bass, 2002), a businesses, and Competition, Fee-for- William G. Droms, John J. Powers, Jr.
trade book; and Strategic Marketing for Service Requirements, and Government Professor of Finance, presented a paper on
Nonprofit Organizations, 6th Edition, with Performance: Evidence on the Federal the topic of mutual fund performance per-
Philip Kotler, (Englewood Cliffs, NJ: Reserve, Journal of Accounting and Public sistence at the Annual Personal Financial
Prentice-Hall, 2003), a textbook. Policy, December 2002, looked at the Planning Conference of the American
He addressed the local chapter of the impact of competition on the performance Institute of CPAs in Orlando. He also pre-
American Marketing Association on of government agencies. sented this paper to the Northern Virginia
Social Marketing in November, and has Professor Robin L. Dillon co-authored Chapter of the American Association of
conducted seminars for the AARP, the Assessment of Cost Uncertainties for Individual Investors and at the Advanced
Girl Scouts of America, and the Environ- Large Technology Projects: A Methodol- Personal Financial Planning Workshop
mental Protection Agency. ogy and an Application, Interfaces, Vol. sponsored by the Georgia Society of CPAs
32, No. 4, JulyAugust 2002, pp. 5266 in Atlanta on September 27.
with Richard John and Detlof von Win-
terfeldt, both of the University of Southern
California. The paper described their

18 The McDonough School of Business

 Kasra Ferdows, Heisley Family Pro-
fessor of Global Manufacturing, moderated
the keynote session of the AspenWorld
2002 conference held in Washington,
D.C. (October 27November 1). The
conference is held every three years for
CEOs, CIOs and other senior executives
from process industries (petroleum, chem-
icals, pharmaceuticals, metals, etc.). Fea-
tured speakers included Jack Welch, for-
merly of General Electric, and Geoffrey
Colvin of Fortune magazine. Ferdows has
written a research paper entitled Dis-
persed Manufacturers that has been
accepted for publication in a forthcoming
issue of Industrial Management. The study
presents a model for how involved a com-
pany should be in managing the emerging
supply chain system of dispersed manu-
facturing.
Professor Robert M. Grant was
appointed to the Scientific Committee of
Eni Corporate University in April 2002.
Eni Corporate University is the knowledge
management and management develop-
ment organization created by Eni S.p.A.,
Italys leading energy company and largest
shareholder-owned corporation in terms of
market capitalization.
He has written three articles for pub-
lication: La Gestione Strategica della
Competenze Organizzative, co-authored
with Andrea Lipparini, Sviluppo & Orga-
nizzazione, No. 192, Luglio/Agosto 2002,
pp. 113; Are Firms Superior to Alliances
and Markets? An Empirical Test of Cross-
Border Knowledge Building, co-authored
with Professor Paul Almeida and Jaeyong
Song, Organization Science, Vol. 13, 2002,
pp. 147161; and A Knowledge Access-
ing Theory of Strategic Alliances, co-
authored with Charles Baden-Fuller, Jour-
nal of Management Studies, forthcoming.
He spoke at a symposium honoring
John Stopford, an international business
scholar, at the London Business School in
June 2002. The conference papers will be
published in The Future of the Multina-
tional Company (Wiley, Chichester, 2003),
J. Birkinshaw, G. Yip, C. Markides, and S.
Ghoshal, eds. He participated in the Semi-
nar in Innovation and Business hosted by
the Business Industrial Association of
Bologna in Bologna, Italy in September
2002. The conference introduced leading-
edge strategic management concepts to
business leaders in the Bologna and Emilio
Romagna region.
Professor Brooks Holtom was co-
author of three research articles in 2002.
The Relationship between Work Status
Congruence and Work-Related Attitudes
and Behaviors, with Tom Lee (University
of Washington) and Simon Tidd (Vander-
bilt University) was published in the Jour-
nal of Applied Psychology, 87(5), 903915.
With Ray Friedman (Vanderbilt Univer-
sity), he also wrote The Effects of Net-
work Groups on Minority Employee
Turnover Intentions, published in Human
Resource Management Journal, 41(4), 405
421. Published in the Journal of Manage-
rial Issues, 14(2): 181197, was the article
The Influence of Motivation to Attend,
Ability to Attend, and Organizational
Commitment on Different Types of
Absence Behaviors, co-authored with
James Burton (University of Washington)
and Tom Lee (University of Washington).
Michael B. Levy, Distinguished
Teaching Professor, was nominated by U.S.
Senate Majority Leader Thomas Daschle
and appointed by President George W.
Bush as a member of the U.S. Commission
for the Preservation of Americas Heritage
Abroad. The Commissions mission is to
preserve cultural and communal property
in the former Soviet Union and Eastern
Europe that was threatened by the Nazis
and abandoned under the Communists.
The Commission, composed of U.S. citi-
zens, identifies and protects properties,
such as cemeteries, churches and syna-
gogues, and artifacts from small minority
communities. Levy was first appointed to
the Commission by former President
William J. Clinton.
Dean John W. Mayo, Professor and
Director of the Center for Business and
Public Policy, was elected to the National
Safety Council Board of Directors. His
term started in October 2002 with the
opening of the NSCs 90th Annual
Congress & Expo in San Diego. He will
also serve as Vice President of the Educa-
tional Resources Division, which addresses
educational and societal needs related to
safety and health. The NSC is a not-for-
profit, nongovernmental, international
public service organization dedicated to
protecting life and promoting health. The
Councils Board of Directors provides
strategic and fiduciary oversight to the
Councils staff and activities involving its
37,500-plus member businesses, labor
organizations, schools, public agencies, pri-
vate groups and individuals.
Professor Douglas McCabe co-authored
with Professor James Angel the article
entitled Market-Adjusted Options for
Executive Compensation in the June 2002
issue of the Global Business and Economics
Review. This was the lead article of this
issue. He received a national research cita-
tion in Organizational Behavior, Eighth
Edition ( John Wiley & Sons, Inc.).
Additionally, he wrote the article entitled
Rerum Novarum, An Examination and
Application of its Principles to Strategic
Ethical Issues in Contemporary Domestic
and International Labor-Management
Relations and Global Competitiveness in
the Journal of Global Competitiveness (Fall
2002). He also presented an executive edu-
Winter 2003 19

cation seminar entitled The Interface
between Management and Leadership for
the United States Attorneys Office. He
was selected to serve on the editorial board
of a new journal, Human Resource Manage-
ment Education Review, and was also
appointed to the University Committee on
Rank and Tenure at Georgetown University.
Professor Keith Ord presented his
paper titled The Single Source of Error
Specification for State Space Models at
the Workshop on State Space Models
hosted by the Royal Academy of Arts and
Sciences in Amsterdam, Netherlands in
August 2002.
Professor Sundaresh Ramnaths
research article Investor and Analyst
Reactions to Earnings Announcements of
Related Firms: An Empirical Analysis
was published in the Journal of Accounting
Research, Vol. 40 No. 5, December 2002,
pages 13511376. Results of this study
showed further evidence of investor and
analyst under-reaction to publicly available
information.
Professor N. Lamar Reinsch, Jr. co-
authored Writing in Noninterpersonal
Settings: Rhetorical Choices by Nonpro-
fessional Writers in Letters to a Senator,
with Professor Annette N. Shelby. The
paper, examining writers decision making
in composing letters to people with whom
they have few if any personal connections,
was published in the Journal of Business and
Technical Communication ( January 2003,
20 The McDonough School of Business
vol. 17, pages 5083). An earlier version of
this article received the Distinguished
Paper Award at the 2001 meeting of the
Association for Business Communication,
Southwest Federation of Administrative
Disciplines.
He presented his paper, The U.S.
Letter to China: A Case Study in Institu-
tional Apology, at the Association for
Business Communication conference held
in Cincinnati, Ohio on October 26. On
October 5, he presented Done on Earth:
From Withdrawal to Engagement at a
conference in Malibu, California, launch-
ing Pepperdine Universitys new Center
for Faith and Learning.
Professor Michael P. Ryan has written
the article Knowledge, Legitimacy, Effi-
ciency, and the Institutionalization of Dis-
pute Settlement at the World Trade Orga-
nization and the World Intellectual
Property Organization, Northwestern
Journal of International Law and Business,
forthcoming. He gave two keynote speeches,
Intellectual Property Strategies for the
Biotech Value Chain, at the 8th Annual
Pacific Rim Biotech Conference in Auck-
land, New Zealand in November 2002 and
Intellectual Property Strategies for Tech-
nology Parks at the Ministry of Science and
Technology Conferences in Dalian and
Shenzhen, China in August 2002.
Professor Edward Soule served as a
panelist at the National Investor Relations
Institute symposium on Restoring
Investor Confidence in the U.S. Capital
Markets held at the National Press Club
in Washington, D.C. on May 6, 2002.
Michael E. Staten, Distinguished
Teaching Professor and Director of the
Credit Research Center, gave testimony on
College Students and Credit Cards
before the U.S. Senate Committee on
Banking, Housing and Urban Affairs on
September 5, 2002. Also in Washington,
D.C., he presented his paper, Regulation
of Subprime Mortgages: The Impact of
Predatory Lending Laws on Supply at the
Federal Trade Commission Mortgage
Market Roundtable on October 16, 2002
and at an American Enterprise Institute
conference on October 30, 2002. He also
presented The Impact of Credit Counsel-
ing on Borrower Credit Usage and Pay-
ment Behavior (co-authored with Gre-
gory Elliehausen and E. Christopher
Lundquist) at the Western Economic
Association annual meeting in Seattle in
July 2002. Two of his research articles have
been published: Plastic Choices: Con-
sumer Usage of Third Party vs. Proprietary
Credit, (with Ken Carow) in the Journal of
Economics and Finance, Vol. 26, No. 2
(2002), 216232 and The Impact of
Casino Gambling on Personal Bankruptcy
Filing Rates, (with John M. Barron and
Stephanie Wilshusen) in Contemporary
Economic Policy, Vol. 20, No. 4, October
2002, 442-455.
Professor David A. Walker, John A.
Largay Professor of Finance and Director
of the Capital Markets Research Center,
has been re-elected as chair of the board of
trustees for the Financial Management
Association International (FMA). FMA is
the worlds largest finance association that
focuses upon both academicians and prac-
titioners. David served FMA as president
(19941995) and vice president and pro-
gram chair (19901991). He has been a
member of the board of trustees for the
past seven years.
His research article titled Financial
and Economic Determinants of Privatiza-
tion was published in Economia Inter-
nazionale, February 2002, Vol. LV, No. 1,
pp. 105130.
In the Media

Since July 2002, Professor Jose-Luis Guer-

rero-Cusumano appeared as the guest of
numerous radio broadcasts and television
Professor Michael R. Czinkota wrote an In The Washington Post, September 2,
programs, including the Voice of America
editorial titled Success of Globalization 2002, Lisa Kaminski, Director of the
International (radio), the International
Rests on Good Business Reputations, IEMBA program, commented about
Bureau of Broadcasters (television), Global
published in the October 12 issue of The regional executive MBA programs in the
Affairs Television (PBS), and Univision-
Japan Times. Stating that these are not story, An Extra Degree of Success. Refer-
International TV.
good times for business ethics in the ring to the effect of the economy on these
industrialized nations, he then pointed to programs, she said, More students are
Topics addressed and the dates of inter-
recent business scandals and problems. In paying their own way than in other years,
views include: Free Trade in the Ameri-
the U.S. it has been the overstatement of and its been harder to negotiate with com-
cas, International Bureau of Broadcasters
profits by and exorbitant remuneration of panies to get them some time off. The
call-in show for Latin America, October
chief executives. In Japan the concern has article pointed out that Georgetown earns
31; How the Brazilian Elections Will
been with misidentification of products the most national acclaim. It was ranked
Affect Latin America, VOA call-in show
and payoffs. In Europe the issue has been ninth in the country by Business Week in
for Latin America, October 9; How
bribery and understatement of profits. a recent poll.
America Changed after September 11th,
These developments place the acceptance
VOA (rebroadcast in U.S.), September 9;
of economic globalization at risk. He con- ABC Radio Networks interviewed Profes-
Competitiveness in the Andean Pact,
cluded by saying that It is important that sor William M. Emmons III about World-
VOA call-in show for Latin America,
Japan, the European Union and U.S. col- Com on July 7, 2002.
August 20; Latin American Economies:
laborate to guard the virtue of market
Going South? Global Affairs Television
forces so that the positive benefits of glob- Professor Alan R. Andreasons half-hour
(PBS), August 21; Troubled Waters in
alization can flourish in a world that des- interview on social marketing for Prime
Brazil: The Business Situation and the
perately needs economic wind in its sails. Time Radio, on May 30, 2002, was broad-
IMF, VOA call-in show for Latin Amer-
cast to 130 radio stations in the U.S. and
ica, August 27; Competitiveness in Latin
the Armed Forces Network. It aired on
America, VOA, July 2; Is Mercosur Cre-
WBJC in Baltimore on June 9.
ating Problems for Peru? VOA call-in
show for Latin America, July 9; and How
Professor Douglas M. McCabe was inter- One of Andreasons research articles was
Is the Scandal of WorldCom Affecting
viewed on ABC World News Tonight with referenced in the Fall 2002 issue of the
South America? Univision-International
Peter Jennings on Tuesday, October 1, ACRNews, a publication of the Association
TV, July 16.
2002 regarding the strike on the West for Consumer Research. I learned that
Coast ports. He was also interviewed on achieving Research with Legs starts by
CNBC on Monday, October 7, 2002 working backwards. . . The power of work-
regarding labor relations in West Coast ing backwards is discussed in a wonderful
longshoring. article entitled Backward Market Research
by Alan Andreasen in the 1985 May-June
issue of the Harvard Business Review. This
article should be required reading for all
consumer research, marketing and MBA
classes, wrote Martin Horn, Senior Vice
President and Group Director of Strategic
Planning & Research, DDB Advertising,
in his article titled Research With Legs.

Winter 2003 21
 Professor Michael E. Staten, Director of
the Credit Research Center, was quoted
in the March 2002 issue of Florida Trend
in the article How Far Should Florida Go
in Curbing Credit? Commenting on the
drop in loans in North Carolina, South
Carolina and Virginia to people making
less than $50,000, he said, These could
be perfectly legitimate borrowers who are
no longer being served. People get taken
on used cars all the time, but the solution
to that is not lets stop the selling of
used cars.
Della Bradshaw of The Financial Times
wrote of John W. Mayos appointment as
dean on September 2, 2002: Georgetown
University has named one of its own as the
new dean of the business school. Econo-
mist John Mayo was senior associate dean
at the school from 1999 to 2001 and is
currently director of the Centre for Busi-
ness and Public Policy at Georgetown. He
has been appointed for a two-year term.
22 The McDonough School of Business
Professor Edward Soules comments
appeared in a story, WorldCom Arrests
Made, on the Asia Africa Intelligence
Wire on August 2, 2002. Referring to
Scott D. Sullivan, former WorldCom
CFO, and David F. Meyers, former
WorldCom controller, the article reported
that Edward Soule, a professor of corpo-
rate ethics at Georgetown Universitys
McDonough School of Business, said that
Sullivans alleged failure to notify others of
the change [in accounting] poses the
biggest problem. Soule said that even if
Sullivan and Myers were justified in claim-
ing some expenses as capital expenditures,
they violated fundamental accounting rules
by failing to document the changes. To
switch back and forth without telling any-
one is a prescription for manufacturing
earnings, he said. No matter how good
your argument is, it was a change you
should have had a spotlight on because it
was of such a magnitudeit was all their
earnings.
On August 9, 2002, Soule was again quoted
in a follow-up story on WorldCom on the
Asia Africa Intelligence Wire. In speaking
of reserve accounts as one of the most sub-
jective areas of financial reporting, Soule
said, They are a judgment call. They pre-
sent an opportunity for manipulation.
In an article in Occupational Hazards,
September 2002, Gayla McClusky, of the
American Industrial Hygiene Association,
told of her work with the Center for Busi-
ness and Public Policy at McDonough.
She said that AIHA has been working
with the Center to raise the issue of
workplace safety and health as more of a
national priority.
Professor Ken S. Cavalluzzo commented
in Knight Ridder/Tribune Business News on
August 4, 2002. In the article, Hispanic
Businesses Still Have Trouble Getting
Financial Assistance, he said that con-
nections between banks and Latino com-
panies have not improved in recent years.
He added, When you control for risk
characteristics, the denial differences are
still pretty pronounced.

We encourage all business
school alumniundergraduate,
MBA, and executive MBA
to send us or your class agents
class notes. We do not accept
engagement or pre-birth
announcements.
Alumni Notes
UNDERGRADUATE
1968
In June, Gina Wolfe, associate
professor of Theology at Saint
Johns University in Collegeville,
Minn., participated in the Inter-
national Symposium on Reli-
gion, Ethics, and Contemporary
SocietyWest and East. The
Symposium was sponsored by
the National Center for Reli-
gious Studies and the Institute
for the Study of Buddhism and
Religious Theory, both of which
are at Renmin University of
China. The Beijing meeting,
which brought together nine
Chinese scholars and nine schol-
ars from the West, provided an
opportunity for cross-cultural
and interfaith dialogue with par-
ticular emphasis on issues of
economic and business ethics.
Wolfes presentation, Leader-
ship and the Call to Disciple-
ship: A Roman Catholic Per-
spective, focused on managerial
leadership in the corporate
sphere.
1976
David Pilvelait (david@home-
portcommunications.com) is the
founder and president of Home
Port Communications (HPC) in
Fairfax Station, Va. HPC is a
marketing consulting firm for
the recreational and commercial
marine industry. Hes a frequent
speaker on marine marketing
topics and a columnist for sev-
eral marine industry trade maga-
zines and newsletters.
1988
Carol Hartigan Prince and her
husband John are proud to
announce the birth of their son
John Michael ( Jack) born on
April 21, 2002. Carol spent the
summer enjoying their new son,
but will return to BP and resume
her position as the director of
Credit Card Marketing for the
United States.
1991
Jay and Janelle (Lorenz) Wright
report they are the parents of
two children: Corinne Cather-
ine, born in May 2001, and
Theodore Piers, born in
September 2002. The Wrights
live in Potomac, Md.
1992
Leonard Way was recently
named VP for Asset Manage-
ment for The Beach Company.
This Charleston, S.C.-based
company is a full service real
estate firm offering develop-
ment, sales, leasing, and man-
agement services.
Troy Thorn and his wife Arlene
are proud parents of Tatum
Monet Thorn born February 24,
2002. Troy resides in Fort Worth
and is an administrator for the
City of Dallas. In his spare time,
he operates an events company,
2.82 Inc. Troy challenges his
roommates from Lisner 4 to step
up to the plate and produce
some playmates for Tatum.
1994
Paul Burgon graduated from
Georgetowns International
Executive MBA program in
2002. He currently works in
mergers and acquisitions as the
director of corporate develop-
ment for Danaher Corporation
in Washington, D.C., and lives
in Virginia with his wife, Jill,
and two children.
1995
Marc Siegel and Alison McAr-
dle (SLL 95) were married on
October 26, 2002 in Bronxville,
N.Y. Best man was Chris Sten-
rud (F 95). Hoyas in attendance
include Mark Pasko (C95), Ken
Hanada (F95, MBA 01),
Michael Stewart (F95), Joe
Scafidi, Lesley Kim (B96),
Cameron Chartouni, Sofia
Monahogios (F95), Eric Tesdall
(C95), Scott Byers (C95), Sean
Murphy (C95), Candy (Weaver)
Murphy (F96), Eran Klein
(C95), Nilana Gunasekaran
(F94), Carolina Hoyos, and
Naomi Chan.
1997
Brian Hall and wife Laura
Steiner Hall (MSFS 95) are
overjoyed to announce the birth
of their first child, Benjamin
Carter Hall, October 13, 2002 at
Georgetown University Hospital.
All three are doing well, and Ben-
jamin already has his first George-
town teddy bear as a memento of
his first trip to campus!
1998
John Scuorzo and Rebecca
Tegey (FLL 98) were married on
September 8, 2001 in the
Dahlgren Chapel at George-
town. The reception was held at
Dumbarton House on Q Street.
Several alumni were members of
the wedding party and many
more of the couples college
friends returned to Georgetown
from across the country and
around the world to join in the
celebration. John and Rebecca
live in New York City where
John is an investment-banking
associate at SalomonSmithBar-
ney and Rebecca is an advertis-
ing account executive at Ogilvy
& Mather.
Winter 2003 23
 ALUMNI PROFILE
Alumni Notes
Alum Deals with Jets and Tigers, but Puts Family First
Tyler Tysdal (B93),
co-owner of Tyler Jet
and CFO of Medaus, MBA 1986
describes himself as Jim Murphy and his wife Abby
a family-balanced 1983 announce the birth of their son,
entrepreneur, one From Lisa Manzi Jacobs (C 81): Brendan, who was born on
Two notable events are occurring March 21, 2001. Jim is looking
who adapts his busi-
in my career. In 2003 I will cele- for fellow Hoyas in the Jack-
ness interests to his
brate my 20th anniversary with sonville, Fla. area.
wifes career. We
UBS PaineWebber (Paine Web-
just moved from
ber Jackson & Curtis when
1987
Tyler, Texas to Den- I joined in 1983). I have been Harvey Chimoff formed Primos
ver because my wife with the firm since my gradua- Trading Company, LLC in
Natalie landed the anchor spot on a morning television show. I can tion from the MBA program. 2001. Its an international com-
In January 2002 I received a pany that imports, distributes,
run my business from there, and be with her and our two-year-old
promotion to the position of markets, and sells wines from
daughter, Addy, he says. Family means the most to me.
regional director, the first Spains Mentrida wine region.
woman regional director in the He and his company were fea-
After receiving his degree from Georgetown, Tysdal worked as a
history of the firm (about 125ish tured in an article in The Star-
financial analyst at Alex.Brown & Sons in Baltimore and then went to
years). In 2001 I was the recipi- Ledger (Newark, N.J.) on Octo-
the Harvard Business School (MBA 97). When e-commerce began to ber 30. According to the article,
ent of the Connolly Leadership
evolve rapidly, he raised the start-up capital for Chemdex, the first Award at UBS PaineWebber. Harvey began researching an
business-to-business exchange to go public. Then, with the investors import-export venture in early
proceeds from Chemdex, he established a fund to buy traditional 1985 1999. After two years of
Nicholas L. Spyros (C 83, Law research, travel, and regulatory
companies. One purchase was Tyler Jet, the worlds largest dealer of
94) is a partner in the Palo Alto procedures, his warehouse is full
private jet airplanes.
office of Baker & McKenzie, and hes open for business. He
Through his efforts, Tyler Jet co-founded eBay Aviation and set the all- where he specializes in venture also publishes V1 Insights, a mar-
capital, private equity, and inter- keting newsletter in support of
time eBay sales record. A Gulfstream, formerly owned by our cus-
national joint venture transactions. Velocity 1Consulting, Inc. chi-
tomer, Aerosmith, was bought by a company in the Congo for $4.9
moff@velocity 1.com
million, says Tysdal, who pilots a Cessna 172. He also recruited Terry Douglas Knopper has been
appointed VP/GM of Adver- Sunil Baliga, director of net-
Bradshaw, former NFL player and customer, to be the company
tiser and Publisher Solutions at working products at Kawasaki
spokesperson.
DoubleClick Inc. in New York. LSI, was elected chairman of the
He has global responsibility for Technical Education & Market-
As CFO of Medaus, Tysdal is busy engineering the consolidation of the
all advertising management ing Working Group, for the
$2 billion compounding pharmacy industry with a major private
tools within the companys port- Network Processing Forum
equity firm. He has held CEO positions with an edutainment retail (NPF) in Fremont, Calif. He has
folio of technology products.
company and an e-commerce business-to-business marketplace. more than 15 years of experience
DoubleClick is the leading
provider of tools for advertisers, in marketing semiconductors,
In Tyler, Tysdal raised funds and did hands-on animal care at the Tiger
direct marketers and web pub- primarily in the programmable
Creek Refuge, a shelter for abused and abandoned tigers. Cage rules logic and ASIC markets.
lishers to plan, execute, and ana-
are: 1. Carry a big stick. Tigers will bite the stick, not your arm. lyze their marketing programs.
2. Never turn your back, or they will play by jumping on you. 3. Dont 1988
Amy Schoen married Alan Rot- Pamela Fairchild Leslie
get knocked downanything under their eye level is prey, he says.
nemer on July 20, 2002. The ( JD/MBA) writes that she is
As Class of 1993 Chair, Tysdal urges classmates to attend their 10th couple is residing in Rockville, enjoying spending time with her
Md., and Amy is the owner of children Elizabeth, age 4, and
reunion in May 2003. The greatest benefit of my Georgetown experi-
12-year-old La Petite Classique Winston, age 2, and is looking
ence was the balance of business and liberal arts. It built my character.
clothing boutique in Bethesda. forward to seeing Lisa Brown
The reunion is a place to gain even more, from continued friendships
Kelly soon. She hopes her class-
to networking opportunities.
mates are well.

24 The McDonough School of Business

1990
Class Agent: Lorraine Herr
herrdesign@aol.com
Jane Ashton Hawes continues
to pursue her writing career in
Delaware, Ohio. She along with
daughter Emma and son Colin
cheered on husband Dick as he
participated in the Olympic
Torch Relay in Columbus, Ohio
earlier this year.
Lori Michaels is director of cor-
porate development for Bell
Mobility in Ontario, Canada.
She resides in Canada with her
journalist husband and their
proficiently trained search-and-
rescue German Shepherd. Lori
continues to be involved in
African activities, usually visit-
ing once each year. In Decem-
ber 2002 she heads to Kenya to
participate in a lion study and to
visit several health projects. Lori
keeps in touch with Mary Col-
man St. John who lives in New
Jersey with her musician hus-
band and young daughter. Lori
reports connecting with Jeanne
Larson who last was living in
Barcelona before planning to
relocate to southern France.
Steve Straske, Monte Carlo
and Kevin Welch celebrated the
2002 fourth of July with, what
else, a golf outing. Steve and his
wife Janice were in Chicago with
their children, Elly, Martha
Davis, and Mary Stephen, in
August to see the Cubs and make
a pilgrimage to the American
Girl store.
Dave Burke lives in St. Paul with
his wife Cathy and their children
Whitney, Connor, and Jewell.
Nearby, Beth Laboe Edgar lives
in Inver Grove Heights, Minn.
with husband Jason and daugh-
ters Isabel and Colette.
Christine Campe-Price and her
husband Cris live in Falls
Church, Va. with their children
Peter and Eliza.
Eileen Utter lives in San Fran-
cisco. In September 2002 she
directed four original plays for a
sold-out run with rave reviews.
She vacationed in Tecate, Mex-
ico with Lorraine Herr this Aug-
ust. The two former classmates
played tennis, hiked daily, and
boxed with devastating results.
Kitty Swenson works at
Wasatch Advisors in Salt Lake
City. She and husband Steve are
busy with daughters Scout and
Sara. Kitty thought that her
Georgetown classmates would
all come out of the woodwork
in search of accommodations
for the Winter Olympics.
1991
Class Agent: Mary Pat Blaylock
mpblay@hotmail.com
1992
Class Agent: Jon Gafni
jngafni@cwix.com
Jonathan Foxman was the co-
founder, COO, and acting CFO
of SOL Communications, a
GSM-based PCS/wireless
phone company headquartered
in Scottsdale, Ariz. VoiceStream
acquired the company, and he
has since moved home to Wayne,
Pa., with his wife Karin and
four children, ages 9, 7, 5, and 3.
1993
Class Agent: Jordan ONeill
jjoneill@chevychasebank
Taylor Simmons still lives near
Georgetown with his wife Ellen
and 4-year-old daughter
Alexandra. As chairman of the
planning committee, Taylor
encourages all 1993 classmates
to attend their 10-year reunion
on May 30-June 1, 2003. Fur-
ther, he challenges the other
reunion classes (83, 88, and 98)
to see which class has the high-
est percentage of alumni attend-
ing. Please send suggestions for
reunion events to
ttsimmons@aol.com.
Kathleen McCarthy Peters
teaches marketing and business
at Seminole Community Col-
lege in Oviedo, Fla., and also is
director of marketing for
Orlando City Ballet. She is
finding non-profit marketing
challenging,and is bringing to
OCB her years of experience (if
not her marketing budget) from
her previous role as brand man-
ager at Disney Cruise Line.
Mike MacKeen has joined Rev-
olution Partners, a technology-
focused investment bank, as
managing director and head of
the Private Equity business.
Mike and his wife Jane live out-
side of Boston with their four
children.
Jim Colletto and Katy (Cancro)
Colletto just welcomed their
first daughter, Mia, into the
world in October. Jim and Katy
live in Mill Valley, Calif.
1994
Class Agent: David Gee
david@geefamily.com
I wanted to start this column
with a little reflectionas I
write this, a little over 10 years
have gone by since we all hud-
dled together in Old North to
listen to Dean Parker, attend
classes, and embark on our col-
lective futures. Some of our
class married each otherEric
& Evan, Paul & Janeothers
have moved across the globe
and back again, many have
started families and lots of us
are working hard doing what we
do. After writing this column
for eight years, Im as bullish
today as I have ever been on the
value of the two years I spent in
Georgetown, and am in regular
contact with many of our fellow
alumni personally and profes-
sionally. Id like to thank all of
you for keeping in touch
passing on news and informa-
tion and for being a terrific net-
work. You can always reach me
at david@geefamily.com
David and Michelle Gee wel-
comed Sydney Rebecca into the
world on April 18. Sydney is the
little sister to Nathalie
Shoshana who turns three in
January 2003. He also had
lunch with Dave Petroni
recently. Dave is hanging out on
the East Bay in northern Cali-
fornia and is VP mergers and
acquisitions at Peoplesoft.
Chris and Paget Bahr welcomed
Hunter Wilder into the world
on October 9, 2002. Wilder is
the younger brother of Hazard
Gage. The Bahrs also recently
relocated from Redwood City,
Calif. to Old Greenwich, Conn.
Chris is currently the executive
assistant to the GM, Applica-
tion & Integration Middleware
Division at IBM.
Frank (JD/MBA) and Carol Ann
Manzella added Timothy Fran-
cis on May 6. He weighed in at
7lbs. 4 oz. and was 19 1/2
inches long. Big sister Casey (5)
and big brother Sean Michael
(2) are thrilled as well! The
Manzellas also celebrated their
10th wedding anniversary.
Winter 2003 25
 Alumni Notes
Marlise Ellis accepted a position
outside of Philadelphia with a
company called L & N Sales and
Marketing. They make hair
accessories and grooming prod-
ucts under the brand names of
Scunci, Seventeen, and Cos-
mopolitan. They actually have
the largest market share in their
category. The products are sold
in mass market and drug stores
across the country. Shes working
with the design and marketing
departments doing some product
design and a lot of product
development. Word is shes relo-
cated to Philly.
Michael Derkach left the Inter-
net world and is now working at
Sumitomo Corporation as direc-
tor of investment management
where hes involved in evaluating
and managing equity invest-
ments and acquisitions primarily
in technology, heavy industry,
power, and professional services.
Bailey Marks has a new email
addressbailey@bmarks.com
Marc Gross, with wife Louise
and daughter Aurelia (2 1/2),
just finished the renovation of a
Regency period house in St.
Albans (north of London) and
have just bought a 1,000-year-
old monastery in central Italy
(on the border of Tuscany and
Umbria) which they will be
completely rebuilding as a holi-
day home and vacation rental.
The monastery and additional
farmhouse sit on a hilltop in 12.5
acres of grounds which theyre
planning to fill with a pool and
tennis court . (I would like to
propose this as the location for
the 10 year reunion.)
26 The McDonough School of Business
Adrienne Cox took a position at
AOL Broadband as executive
director, segmentation and prod-
uct strategy.
Dave Goldberg tells me hes a
grown-up at long lastthe
Goldbergs moved into a new
house, oldest child started
kindergarten, and he had to go
to a back-to-school night. (Does
anyone have the photos of him
in a toga? Im sure the PTA
would love to see them.)
Ashley Lowe is working with
Legal Aid in Michigan.
Jane and Paul Murphy are living
in New York City and have two
daughters, ages 4 and 2. Paul is a
principal at Sentinel Capital
Partners, a private equity firm,
and Jane is at home with the girls.
Lisa Mitguy is still with Ernst &
Youngs National Tax group, and
still lives in D.C. She keeps in
touch with Mary Vargas and
Karin Lesica (95).
From Alona Ponomareva,
CFA, investment officer, Pension
Investment Department,The
World Bank Treasury:
Last summer, I changed jobs
within the World Bank (WB)
Group in Washington
switched to the WB Treasury
from the IFC (International
Finance Corporation). At IFC, I
was making direct investments
in private companies in the
emerging markets (Eastern
Europe and Latin America). In
the WB Treasury, I am part of
the Pension Investment Depart-
ment. We invest the $9bn pen-
sion plan of the World Bank. I
am investing a portion of the
plan in private equity and real
estate funds in the U.S. and
Western Europe, mainly. In my
new job, I went to Tokyo in
February, where I saw classmate
Ryuta Sato! It was great to see
him after all these years and
catch up. He showed me around
Tokyo and helped me find the
best sushi place in town!
Then I was in London in July
and saw: Marc Gross and family
(wife Louise and 2.5 year old
daughter Aurelia) who are doing
very well in St. Albans, but will
vacation in Italy. Patrick Magee
and family (wife Regina) are also
doing well. Patrick moved from
J.P. Morgan to Cazenove (one of
the oldest, and still independent,
investment banks in England).
They bought a beautiful new flat
that they are busy decorating!
They also just celebrated their
2nd wedding anniversary.
I also heard from Margot
Jacobs, who decided to take
some time off from her high-
paced London job (a banking
analyst at Charlemagne Capital)
to go on a six-month sabbatical.
Last I heard (May 2002), she
was living in a small town/village
in the English countryside and
traveling around to see old
friends and new places.
On the personal front, we (my
husband Steve Smith and I )
finally finished building our new
house in McLean, Va. and
moved in August! This was
great, after almost two years of
dealing with architects, builders,
contractors, designers, etc. We
still have a lot of work to do in
the house, but at least we are liv-
ing in it now!
Angelica Beard reports that in
July 2002, she left corporate
America and started her own
qualitative research firm, Beard
& Associates. Angelicas clients
include companies in high tech,
MBA
consumer goods, consumer ser-
vices, retail design, political cam-
paigns, not-for-profits, polling
firms, ad agencies, and advocacy
based organizations across the
country. Her services include
focus group moderating, in-
depth interviews, ethnographies,
qualitative analysis and report-
ing, and marketing strategy and
planning. Angelica says Finally,
I love what I do! She moved
from Alexandria, Va. for love
and now happily resides in Little
Rock, Ark. You can reach
Angelica at abeard@focusgroup-
experts.com.
Francisco Barriocanal and his
wife Silvana report the birth of
their identical twin sons on
December 7, 2002. Twins Fran-
cisco and Fernando join older
sister Ines (2).
1995
Class Agents: Scott Shore
scott.a.shore@pwcglobal.com
Amy Van Dyke
abvandyke@aol.com
Brian Porto was married on
September 14, 2002 to Cather-
ine Parillo in Bethesda, Md.,
where they are living. Chet
Steiner and his wife Amelia
were among the guests.
Eli Faskha started an Internet
security company last year in
Panama. Soluciones Seguras has
a wide range of security solu-
tions, including Check Point
Firewall-1, and they are the only
Authorized Training Center for
Check Point and Nokia Internet
Security in Central America.
They also consult on Digital
Certificates and other security
solutions for large clients. You
can visit www.solucionesse-
guras.com for more information.

Bella Wong was married on
September 28, 2002 to Deno
Konstantinidis in San Francisco.
Shes now working as a database
programmer/analyst for Safeway
supporting their online division
and predictive modeling needs.
She remarked, Wouldnt Bardia
be proud?
Steve and Julie Genn welcomed
their daughter Sarah Elizabeth
on September 24, 2002. She
joins brother Zachary (3). Steve
is a senior project manager for
Unisys Global Public Sector
Consulting.
Fadi Aabidi has earned the
Chartered Financial Analyst
(CFA) designation administered
by the Association for Invest-
ment Management and
Research (AIMR). Earning this
charter requires a minimum
three-year effort to pass three,
six-hour examinations. Candi-
dates also must have at least
three years of experience related
to investments and adhere to the
AIMR Code of Ethics and
Standards of Professional Con-
duct. The CFA designation is
recognized around the world as
the premier designation in the
investment profession.
1996
Ken Cruse and Durga Bobba
completed the Marine Corps
Marathon on October 27, 2002.
They both ran in their Ultimate
Four jerseys. This was Kens sixth
marathon and Durgas fourth.
Stephen Gaull, after finishing a
1.5-year appointment as an
executive fellow at the Export-
Import Bank, has embarked on
an around-the-world travel sab-
batical before he returns to the
private sector.
Michael Schmeltzer was pro-
moted to director, North Amer-
ica Supplier Relations, at Rosen-
bluth International, the
corporate managed travel com-
pany based in Philadelphia.
1997
Class Agent: Andrea Alexander
Andrea_Alexander@gilead.com
Andrea Alexander has changed
companies and is working for
Gilead Sciences in Foster City,
Calif.
Kelley Tolsdorf Grossman and
husband Marc are the proud
parents of Rachel Elizabeth, born
August 14, 2002. The Grossmans
are now living in St. Louis.
Grant Pickering is living in
Seattle with wife, Kristi, and 2
1/2-year-old son, Benjamin.He
is working to cure cancer via
therapeutic vaccines with Den-
dreon Corporation, as VP Oper-
ations. He writes, Please come
visit the cadre of 97 graduates
here in town: Rosemary Baisch,
Dan Yeh, and Caroline Gilbert.
From Phil Cefaratti: I recently
purchased the Harry W. Gray
house in Arlington, Va. The
home is one of 27 properties his-
torically designated in the county
and was built by Mr. Gray, a
freed slave from the Lee-Custis
plantation, in 1881. Profession-
ally, I had the opportunity to
speak at the Comverse Technol-
ogies Worldwide End Users
Group in Kos, Greece last June
on the Convergence of Prepaid
and Postpaid Billing in Wireless.
This past March also marked
the 7th annual draft for the
GUMBA fantasy baseball
league. Team owners (Scott
Humphrey, Scott Williamson,
ALUMNI PROFILE
Grad Co-Founds Loan Fund for Women
Networking is not always a straight path. It was
the mother-in-law of a former employee that
connected Debbie Mercer (MBA 92), director of
Urban and Multibrand Marketing for Taco Bell,
with nine other entrepreneurial women to start
the Womens International Loan Fund (WIL-
Fund) in Orange County, Calif. The not-for-
profit organization provides economic assis-
tance to women in impoverished countries for
individual and collective, sustainable, economic
development projects.
WILFund groups the micro-enterprise development funds generated from
its capital campaigns and disperses them to women in developing regions
throughout the world, including Latin America, Southeast Asia, and
Africa. According to Mercer, WILFund is incorporating a combination of
private sector lending tactics to become the preeminent micro-enterprise
investment force of women helping women worldwide. These strate-
gies, she says, include micro-enterprise lending, where financial contribu-
tions are leveraged exponentially to increase available load funds; com-
munity banking, where the poorest clients form small groups to
guarantee each others loans; individual lending, where loans as small as
$50 are dispersed; and full sustainability, where the programs operating
costs are fully covered through interest on existing loans.
WILFund is affiliated with World Vision, an organization that has helped
poor children and their families build sustainable futures for 50 years.
The power of WILFund is its ability to help thousands of women and
their communities in perpetuity. The Fund will continue beyond our life-
time, says Mercer, a WILFund founding board member. She points out
that lending only to women raises not only their standard of living, but
also that of their children, regardless of race, ethnicity or religious affilia-
tion. With new chapters emerging in 2003 in San Francisco, New York,
and Bermuda, the growing organization has set the goal of $100 million
for its loan fund.
Mercer received an undergraduate degree in communications and orga-
nizational psychology from the University of California at Santa Barbara,
and chose the McDonough School because of its international business
curriculum. The global perspective still interests me todayprofession-
ally, philanthropically and personally, she says. Practicing Spanish in
extensive overseas travel has propelled her success in marketing to both
Hispanic and Multibranded sites for Taco Bell. A former Pizza Hut field
marketing director, Mercer is completing her eighth year with the parent
company, Yum! Brands, Inc. She credits McDonough for gaining a solid
foundation in all the basic business functions as well as maximizing
her global network of fellow marketers. Alumni can reach her at:
djm52@georgetown.edu
Winter 2003 27
 Alumni Notes
Todd Corley, Meg Mulvihill,
Rose Baisch, Andrea Gothelf,
Max Smith, Tom Javitch, Dan
Smink, and I) met in Las Vegas
for a weekend of reuniting,
drafting baseball players, golfing,
and gambling.
Amy Barton and Antony now
have two sons, Mackenzie (3)
and Collin, born June 02. Amy
is currently working as a market-
ing program manager at Intel
Corporation.
Dan Smink and Tiffany wel-
comed Natalie Berry Smink into
the world on July 5. She joins
Jackson. The family is living
happily in Denver where Dan is
a product manager for a medical
device company.
Tara Scalia married Patrick
Quilty on November 3, 2001 at
The Church of St Ignatius Loy-
ola in NYC. Kelly Brighton was
a bridesmaid. Hoya MBAs also
in attendance were: Karri Lud-
wick, Andrea Gothelf, Megan
Muhlvihill, Mary Schneck Tips,
Brian Mannle, Rosemary
Baisch, and Pedro Herrera
(MBA 96).
Todd Luther Corley left the hec-
tic world of consulting (Towers
Perrin), and joined Starwood
Hotels & Resorts Worldwide,
Inc. as manager of diversity &
inclusion. He facilitates the
development of all multicultural
marketing initiatives and the
creation of a firm-wide, women-
and minority-owned business
supplier program, and oversees
execution of diversity training
and education programs for the
corporate office and branded
properties (The St. Regis, The
Luxury Collection, W Hotel,
28 The McDonough School of Business
Westin and Sheraton). His wife
Penny and 19-month-old
daughter Olivia are reportedly
happy about the move, the
reduced travel schedule, and the
hotel-room discount that comes
with the job.
Todd.Corley@Starwoodho-
tels.Com
1998
Class Agent: Brian Knox
bknox@hess.com
Elyssa Kane and her husband,
Jeffrey Levine, gave birth to
their first child, Dahlia, on Jan-
uary 29, 2002. Elyssa reports
that Dahlia has her mothers
brown eyes and her fathers long
eyelashes! The family lives in
Ardmore, Pa. and continues to
fix up a 1905 house (in between
feeding, diapering, rocking,
singing, playing sessions and,
whenever possible, sleeping).
Elyssa has left her job at a fund-
raising/strategic planning con-
sulting firm and is considering
her options for her next position.
Jordan Robinson and his wife
Jodi gave birth to a baby boy,
Logan, in November 2001.
In June 2002, Andy Finizio,
Alan Randolph, Patrick Rau,
Chris Stauder, Justin Stone
(MBA/FS 99), John Venusti and
Brian Knox traveled north to the
great state of Alaska for a two-
week vacation (two brothers,
Otto Randolph and Joe Stauder,
also tagged along). The guys
spent several days camping in
Denali National Park and visit-
ing Fairbanks before heading
south to the capital city of Juneau.
There the group chartered a boat
and spent a week exploring/fish-
ing/whale-watching in Glacier
Bay National Park.
Andrea Stueve and John
Stokes were married on
September 28 in Andreas
hometown of Minneapolis,
Minn. The wedding party
included MBAclassmates Cheryl
Stevens, Joe Orlando, and
Courtney Dur.
Several other classmates also
attended the wedding: Deborah
Adeyanju, Jane Dwyer,
Heather Hunt, Antal Run-
neboom, Rene Houle, Jocelyn
Byrne, Meredith Orlando (99),
Karri Ludwick (97), and Rusty
Heffner (97).
Andrea and John report they are
very happy and are thankful to
have such great longtime friends
from Georgetown. Andrea is
director, marketing and inter-
national research, at the Travel
Industry Association of America
in Washington, D.C. John is a
product manager at Manugistics
in Rockville, Md., where they
reside.
Jeremy Kestler has started his
own business as a business and
career coach. Jeremy recently
worked as a business advisor for
the U.S. Small Business Admin-
istration in Atlanta. jeremy@
metrocoaching.com.
1999
Class Agent: Mike Pastore
pastmike@yahoo.com
Nancy (Lee) Bao and Huatao
Bao were married on September
3, 2000. Nancy is eHealth pro-
ject coordinator at Childrens
National Medical Center.
Lisa Kleinknecht is moving back
to NYC to run her familys busi-
ness in N.Y. and N.J. after three
years in London. Shes looking
forward to returning to the
NYC area.
Andrea Marshall is engaged to
MBA
Jonathon Webb. Shes still in
London working at CGEY
consulting.
Ed (Shep) Rogers and his wife
Betsy are in Tokyo where Shep
is with Deutsche Bank.
After graduation, Andres Tru-
jillo and his wife Karen moved
to Florida to work with Citi-
group in the Latin America &
Caribbean Operations & Tech-
nology Regional Office as an
O&T Regional Project Man-
ager. Citi moved them for six
months to Madrid, Spain for
training, and they returned with
a daughter Mariana, now two.
Andres says he focuses his MBA
skills in implementing technol-
ogy in the LATAM region based
on the banks strategic goals.
2000
Stephanie (Paul) Lynch and her
husband, Kyle Lynch (MBA 92),
report they were married on July
20, 2002 at St. James Episcopal
Church in Florence, Italy.
Stephanie is working in com-
mercial real estate finance for
Spaulding & Slye Colliers and
Kyle is an executive at Fannie
Mae, both located in Washing-
ton, D.C.
Jorge Harb started a new busi-
ness: (kiiol.com), a meeting
planner and travel agency spe-
cializing in Mexican Spas. He is
now living in Mexico City.
jhk@kiiol.com
Dan Trosch recently received the
Chartered Financial Analyst
designation and is a senior
research analyst for West Finan-
cial Services, an investment
advisory firm in McLean, Va.

From Keith Sandbloom: I
joined Citigroup after gradua-
tion in 2000. After successfully
completing two years of training
and short-term assignments in
Uruguay, New York City and
Indonesia, I have been assigned
to Citibank Tanzania. I currently
manage our portfolio of non-
profit accounts (embassies,
United Nations organizations,
World Bank projects, develop-
ment agencies and NGOs) and
consumer accounts. My wife
Celia and I were blessed with a
second son while on assignment
in New York (Charles Joseph,
born in July 2001). His big
brother Walter has started
kindergarten at the International
School of Tanganyika.
Ken and Olga Starr welcomed
Adam (MBA 30) into their
world on June 14, 2002.
Laura Laybourn and husband
Rob report a second daughter:
Jeanie Marie, born on the 4th of
July, 2002.
Kristin Miljus married Mike
Kelly in her hometown of Pitts-
burgh on May 4, 2002. KK Hall
and Sapna Gujral Santos were
bridesmaids. Kim Kwiatkowski
and Jennifer Carmichael were
readers at the ceremony which
took place in Pittsburghs his-
toric St. Pauls Cathedral. Seen
enjoying the martini and mar-
garita bars at the reception were
alums Torrey Martin, Yvonne
Yang Spencer, Erin Rosenwald
Mullen, Paula Cricca, Carrie
Kurtz, and Gerry Canet. After a
honeymoon to Thailand and
Bali, Kristin and Mike are resid-
ing in the Gramercy Park area of
Manhattan.
Mona Shenassa-Toubian mar-
ried Michael Toubian in March
2001 in Los Angeles. They
moved to London, England in
April 2001, and are now the proud
parents of daughter Sophia born
in March 2002. Michael is with
J.P. Morgan Chase.
2001
Marie (Coquebert de Neuville)
Laumann gave birth to a son,
Alexis, on September 7, 2002 in
Munich.She married her husband
Heinz last summer in Greece.
Cyril Gay Belan also welcomed
a newborn son, Hadrien, in July.
Mother Muriel and Cyril live
in Paris.
Santiago Martignone reports
he and his wife are doing okay in
Buenos Aires, regardless of all
the news. He is still working for
Rabobank International and
their children, Pedro and Luchi,
are growing fast. They have
moved to a new apartment, and
have room for guests. spm@
georgetown.edu
2002
Radhika Murari is running her
social networking company,
The Perfect Circles (www.
ThePerfectCircles.com) in the
D.C. Metro area. She is really
looking forward to the day
The Perfect Circles hits the
break even mark, and more
than that, when it turns a profit!
IEMBA
1996
Class Agent: Thomas
Arnsperger
tarnsperge@aol.com
IEMBA Is have been on the
move during 2002. Elliot Cafritz,
Chip Christian, Vince OConnor,
Gene Waldenmaier, and others
have all been involved in career
transitions during the past 12
months. Your class agent will be
attempting to contact everyone
within the next few months and
update our class directory. So if
you have contact information on
any classmates, let me, Thom
Arnsperger, know at
tarnsperge@aol.com. Other
changes include:
Ben Cass is now a principal con-
sultant with Siebel Systems Life
Sciences Global Competency in
Philadelphia. He wanted to
make sure everyone has his
email address. You can reach
Ben at bcass@siebel.com or ben-
cass55@yahoo.com.
Jim Kasamis moved to New Jer-
sey last February and assumed a
new position at Mercedes-Benz
USAs corporate headquarters in
Montvale. Jim is project man-
ager, sales operations, with new
responsibilities for coordinating
all communication to and from
the field organization; strategic
development (i.e., re-org imple-
mentation); and management of
several special projects/initiatives.
Marie Royce accepted a full-
time position for a year as part of
the adjunct faculty of California
State Polytechnic University in
Pomona. Marie is teaching in
the Collins School of Hospital-
ity Management (2nd ranked
program in the U.S.) and the
International Business and Mar-
keting department. In addition,
Marie has started a company,
EnGendering Profit, with two
business partners in Maryland.
She continues to reside in both
Virginia and California with her
husband Ed.
1997
Class Agent: Lynn Miller
MlleMiller@aol.com
Alumni Notes for this issue pre-
pared by substitute Class Agent
Susan McVay.
Greetings, IEMBA IIs! Its hard
to believe that five years have
passed since our graduation.
Many of us enjoyed the five year
reunion held on campus in late
May. Special thanks to Dan
Campbell, Eric Sklar, and Mikel
Williams who traveled the far-
thest, returning from California,
California, and London, respec-
tively.
Marcel Bahro was sorry to have
missed the reunion. He reports
from Switzerland that no news
is good news sometimes, and
IEMBA
asked that his email address be
shared: m.bahro@bluewin.ch.
Jean-Luc Bejot, M.D. was
appointed VP development at
OPi & Isotec in May 2002.
Based in Dardilly, France (near
Lyon), OPi is a European devel-
opment stage biopharmaceutical
company dedicated to develop-
ing and marketing pharmaceuti-
cals products for rare diseases.
The Bejot family moved to the
small city of Caluire, France,
near a multilingual school for
the children. Jean-Luc can be
contacted at jlbejot@wanadoo.fr.
Winter 2003 29
 Alumni Notes
Suzanne Kaiser is busy feature
writing while interviewing for a
position in international market-
ing. Look for spring 2003 arti-
cles about Robert Frost and the-
ater design in Vermont Life
Magazine and Stage Directions
Magazine. You can reach
Suzanne at Skaiser26@aol.com.
JD Pellechia reports that he is
working as a financial advisor for
Merrill Lynch in the Tampa Bay
area. Having recently passed the
exam to become a Certified
Financial Planner, he is focused
on providing comprehensive
wealth management for high-
net worth individuals and com-
panies. JD says that he is truly
lucky to be blessed with ener-
getic, fun-loving, family-ori-
ented clients! He married Julie
in 1999, and they are the proud
parents of two-year-old Tye
Vincent. JD and Julie have spent
time refurbishing their bunga-
low-style house in Hyde Park.
JD can be reached at jpellec-
chia@pclient.ml.com.
Scott Phillips is still on leave
from Accenture in San Fran-
cisco. He expects to return this
spring. In the meantime, Scott
can be contacted at
scott_phillips_us@hotmail.com.
Susan McVay continues at Mar-
riott International headquarters
in Bethesda. Susans recent pro-
motion to director of lodging
quality assurance information
management includes responsi-
bilities for Marriotts brand stan-
dards audit and guest satisfac-
tion survey programs for hotels
worldwide. The lodging indus-
trys tough economic situation
has provided an opportunity to
redesign Marriotts Guest Satis-
faction Survey system using new
30 The McDonough School of Business
technologies. Susan reports that
2002 has been one of the most
interesting and professionally
challenging years of her career.
Contact Susan at
susan.mcvay@marriott.com.
Bruce Spencer has recently
started a new position with the
BayView Financial Trading
Group in Miami, which is a
non-bank financial institution
and advisory firm. Bruce focuses
on the commercial real estate
mortgage origination and acqui-
sition side of the company. Part
of Bruces territory is the Mid-
Atlantic region, where he hopes
to catch up with Washington-
based IEMBAs. On a personal
note, Bruce was married to
Colleen Galmin on August 23,
2002. Bruce and Colleen
enjoyed a honeymoon in Italy.
Contact Bruce at
bruspen@aol.com.
Mikel Williams has been
brought into a company called
LambdaNet by one of the pri-
vate equity holders, KKR.
LambdaNet is a European
telecommunications player,
operating a large network infras-
tructure across over 100 cities
throughout Europe. As COO,
Mikel is focusing on increasing
LambdaNets shareholder value.
Since he moved his family back
to Bethesda this summer,
chances are we will be seeing
more of Mikel in the D.C. area,
although he is still traveling
extensively throughout Europe.
Mikel can be reached at mikel-
williams@yahoo.com
Sally Buzbee is living in Tunis,
Tunisia, where her husband, a
Foreign Service officer, is study-
ing at the State Departments
advanced Arabic school. Sally is
ALUMNI PROFILE
IEMBA Launches Successful Second Career
Thomas J. Arnsperger, class agent for
IEMBA 96, serves as a business and tech-
nology consultant for the MITRE Corpo-
ration, a not-for-profit company that
provides systems engineering and R&D
support to the government.
Before joining MITRE in 1997, Arnsperger
spent 20 years in the U.S. Air Force,
including several international assign-
ments. He holds two B.S. degrees from
Embry-Riddle Aeronautical University
and an M.A. in communication from the University of Oklahoma, and is
an Air Transport Pilot.
In 1994, he wanted a second career, and saw an advertisement announcing
Georgetowns new IEMBA program. Research showed that G.U. had a
top-tier business program, ranked 25th in U.S. News & World Report
rankings, and was highly regarded by the Princeton Review. G.U. has
been the most meaningful, professional experience I have ever had, says
Arnsperger. However, earning the degree has been my most challenging
accomplishment.
In addition to course work for three to four hours every night and his full-
time day job, he and his wife Deborah were raising two young children,
Christopher and Katie. He recalls that with little sleep and a heavy work-
load, he and his 42 classmates were also actively involved in an evolving
syllabus, and trying to figure out how to work in teams with no available
mobile information technology. We didnt have email, had only one lap-
top per team, and were trying to connect through group-wise software
with very little success, Arnsperger states. I learned as much about
starting an organization from being in that first class as I had in my first
20 years in the work force.
He feels Georgetown provided more than the foundation for his second
career; it helped structure a new way of thinking. Today he applies his
IEMBA experience on each project; using strategic thinking in investment
decision-making and enterprise architecture to integrate business and
technology. Since graduating, he has co-authored numerous articles and
presented at several professional symposiums.
Arnsperger serves as a representative on the Hunter Mill District Land Use
Committee in Northern Virginia and as the IEMBA I class agent. Keeping
ties with the University and my classmates remains an important part of
the Georgetown experience, he says.
taking a one-year sabbatical
from her job at the Associated
Press to care for daughters Emma,
now 3, and Margaret, now
almost 2, but expects to be back
in Washington again starting the
summer of 2003 and returning
to work with AP. Sally can be
reached at sally@buzbee.com.
Leila Webster finished three
years in Hanoi in Fall 2000, and
returned to the U.S. to join a
new small business department
in the World Bank and IFC.
Her team is now working on
setting up a new program focus-
ing on the eastern islands of
Indonesia to be headquartered
in Bali. While debating whether
to relocate again, Leila is enjoy-
ing a new house in the woods of
North Carolina. Although she
flies back and forth to Washing-
ton each week, Leila reports that
the commute is well worth it.
Contact Leila at lwebster@ifc.org.
1998
Class Agent: Debbie Weil
dw@wordbiz.com
From Ivo Maric: Our second
child Nicolas Andres Maric was
born on September 10, exactly
three years after his big sister
Camila. Clara and I are very
happy, but at the same time very
busy. After many years working
as a consultant, I became an
Inter-American Development
Bank employee. There is not
much change besides having a
blue i.d. instead of a purple
oneand a window office,
retirement benefits, vacations,
sick and paternity leave, and a
career path. Next week I will
have a chance to meet Michael
(Five Forces) Porter. He is com-
ing to the IADB to give a talk
about, what else, competitiveness.
Hope every one is doing well.
From Kimberly Higgins: Hello!
Brian and I just welcomed a sec-
ond son, Evan McCay Deobald,
on October 30. He weighed
8lbs., 3oz. and was 20 1/4 inches
long. His brother Benjamin is
delighted to have a playmate.We
are all doing well. I am just try-
ing to get used to the idea that
we have two boys 15 months
apart. Should be a fun five years
ahead! I am still enjoying IBM.
I am on maternity leave until the
end of January, and still in the
same position as a Senior Soft-
ware Sales Rep., selling middle-
ware to the Federal government.
This has been a busy year in this
spacestill learning lots about
the industry.
From Paul Laporte: I am now
VP of Mktg for Biz Dev for
Evergreen Assurance also in
Annapolis. I started there April
1, joining three founders who
started the company in February.
We have since developed our
service, ramped the company to
25, and secured our funding led
by Venrock, along with four
other VC firms. The company
provides real-time disaster
recovery and continuous avail-
ability services for an enterprises
messaging and email environ-
ment. Essentially we assure that
there will never be a service
interruption in email or access to
data stored in email. Well
branch out to other mission-
critical applications over time. I
now can be reached at: Ever-
green Assurance paul.laporte@
evergreenassurance.com
410.571.8274. I guess I cant get
startups out of my system, even
in these crazy times.
1999
Class Agent: Alphonse Iudicello
a.iudicello@worldnet.att.net
2000
Class Agent: Dan Gallagher
gallagherd@erols.com
2001
Class Agent: Bob Wagoner
rwagoner@syntek.org
Piers Bocock and his wife Katie
are the proud parents of a son,
Miles William Wainwright
Bocock, born August 17 and
weighing 8 pounds, 13 ounces.
Lee Campbell and his wife Bar-
bara are the proud parents of a
daughter, Chase Alexandra, born
on New Years Eve 2001, weigh-
ing 7 lbs., 11 oz. Lee still seems
to be getting around a lot with
the Army Corps of Engineers.
He emailed recently from Biloxi,
Miss. to say he couldnt make a
class get-together at the Tombs.
Bill Dannehl left the Harley
plant in York, Pa. in June to
assume the position of VP of
strategic planning and new busi-
ness development for Harley-
Davidson, Inc. Bill, his wife
Nicole, and their three daughters
relocated to Milwaukee in
August. He claims he reread
Contemporary Strategy Analysis
to determine what hes supposed
to do in his new job.
James De Rocher left Freddie
Mac in April and moved to the
Ocean Beach section of San
Diego. At last report, James is
doing well and enjoying the laid
back California life style. His
only concern is the rate at which
his nest egg is shrinking and the
time delay before he starts look-
ing for a new job.
Tom Henning left DuPont in
May and now holds a position as
product director for American
Standard, a leading global pro-
ducer of advanced products in
the air conditioning systems,
bathroom and kitchen fixtures
and fittings, and vehicle control
systems markets.
Russell Hughes recently started
with Fannie Mae as senior
consultant in their e-Business
division.
Juan Kiewek and his wife
Cristina have been busy over the
past few months. In February
they moved into a new house in
Rockville, Md. About the same
time Juan was promoted to pres-
ident and general manager of
Mexican and South American
operations for TB Woods, Inc.,
a producer of industrial power
transmission products. They
now split their time between
Rockville and Mexico City,
where they also have a house.
On August 14 in Mexico City,
Cristina gave birth to a son, Lucas
Kiewek Enrich, 6 lbs., 6 oz. For
pictures or more info contact Juan
at gkiewek@tbwoods.com.
Tatiana Koleva and her husband
Ali are the proud parents of a
daughter, Milena, born Septem-
ber 19 and weighing 8.7 lbs.
Tatiana reports her older daugh-
ter Aliana enjoys having a baby
sister. Now Ali has to start sav-
ing for the weddings. Tatiana
has also been promoted to senior
manager at Pitney Bowes Man-
agement Services. In her new
position she is responsible for
the legal market in the Mid-
Atlantic Area, spanning Balti-
more to Richmond.
Winter 2003 31
 Alumni Notes
Neil Markus has no new kids.
But he has started a new job
with CapitalSource, a commer-
cial finance company, as portfo-
lio manager in their Structured
Finance group.
David Messina assumed a new
18-month developmental
assignment in August 2001 as
director, strategy and analysis, at
Lockheed Martin Corporate
Headquarters in Bethesda, Md.
He reports to the EVP of corpo-
rate strategic development who
heads a small staff of senior
executives that report directly to
the CEO. The Corporate
Strategic Development Organi-
zation is responsible for corpo-
rate strategic planning; industry
alliances and relationships; and
strategic assessments of markets,
competitors, and M&A oppor-
tunities.
Linda Nemec joined Develop-
ment Alternatives Inc. (DAI),
based in Bethesda, Md., as a
principal development consul-
tant in the Finance, Banking
and Enterprise Development
Group. DAI is an international
consulting firm which works in
emerging markets, countries in
transition, and less developed
countries to help business, gov-
ernment and civil society solve
economic development prob-
lems. Linda will be involved in
new business development for
DAI, including project design
and proposal writing. Her con-
sulting assignments will focus on
business skills development, par-
ticularly sales, marketing, and
exporting. Her new email is
Linda_Nemec@dai.com. She
welcomes correspondence from
any IEMBA alums interested in
the world of overseas consulting.
32 The McDonough School of Business
Carlos Pachon completed a
four-month development pro-
gram in Madrid, Spain, and is
now back at EPA Headquarters
in Washington. While overseas
he investigated the possibility of
opening a microbrewery in
Madrid. All he has to do is sell
his wife Virginia on the idea.
David Sena left the Department
of Health and Human Services
last year when he accepted the
position of supervisory financial
specialist with the Export-
Import Bank of the United
States. David also reports his
engagement to Ms. Laura Barri-
entos of Dallas.
Cole Thomas left the Senate
staff in April and joined Con-
quest, Inc. as program manager.
Conquest is a technology firm
based in Maryland that provides
assistance to various federal
agencies, primarily in the intelli-
gence community.
Natalie Trost and her husband
Randy are the proud parents of a
son, Randall Troy, born July 27,
weighing 6 lbs., 4 oz.
Denise Willard parlayed a pas-
sion for interior design and dec-
orating into her own business
called Dcor by Denise. When
she launched the enterprise in
July, Denise had three projects
underway, including a four-level
town home in McLean, Va.
Working with another interior
stylist as a partner, Denise also
helps clients find, evaluate and
contract with tradesmen in vari-
ous decorating areas. On top of
all this, Denise was also working
toward her real estate license.
She can thus provide not only
new furniture, but also a place to
put it. Contact her at denisewil-
lard@msn.com if youre getting
tired of your current digs.
Email updates:
Linda Nemec:
linda_nemec@dai.com
Doug Reber: dreber@cox.net
David Sena:
David.Sena@exim.gov,
dmsena@hotmail.com
2002
Robert P. Johnson, Director of MBA
Class Agent: John FitzGerald
Alumni Programs, prepared the list of
john@fitzprop.com
alumni services (see opposite page).
Andy Blocker has been named He encourages alumni to visit the
VP of government affairs for the MBA and IEMBA alumni website at
New York Stock Exchange. mba.georgetown.edu/alumni.
For further information, please contact
Randy Fiser has accepted the
Johnson at johnsonr@msb.edu
position of director of strategic
management and planning for
the Fannie Mae Foundation.
Patrick Janin has been named
the CEO of Future Medical
Systems, SA.
Ed Lucio accepted the position
as financial services analyst for
IEMBA
the division of Reserve Bank
Operations and Payment Sys-
tems for Federal Reserve.
Don Nishimoto has relocated to
London as manager of transac-
tion services for the global mar-
kets of the European, Middle
East, and Africa Group.
Shaara Roman has been named
human resources account man-
ager for Fannie Mae Foundation.
Rich Weiss accepted the posi-
tion of president of Applied
Security. In addition, Rich and
Christiana Weiss became the
proud parents of Leah Audrey
Weiss. She was born on Octo-
ber 17 at 6 lbs., 13 oz., and 20.5
inches long.
McDonough School of Business Alumni Services
Online Community
hoyasonline
Visit hoyasonline and update your contact
information online, access email forwarding,
search the alumni career network and more!
www.georgetown.edu/alumni
MBA & IEMBA Alumni Career Services
Career Advice from hoyasonline Career
Network members
Search all 2,600 MBA, 400 IEMBA and
11,000 other University alumni and talk with
alumni who have agreed to offer career
advice in selected career fields. You may also
do an Advanced Search by class and
employer. www.georgetown.edu/alumni
Career Tools
Available to Career Network members
(All MBA/IEMBA alumni are members)
Join Career Tools and access premium
research databases, an exclusive web search
engine covering over 100,000 company
job sites and useful tips on conducting an
effective job search. Enjoy a special relation-
ship between Georgetown alumni and
Lee Hecht Harrison located in 50 states
and 20 countries. To join go to hoyasonline
and select Alumni Career Services.
www.georgetown.edu/alumni
Global Workplace
Global Workplace is an international career
management and development platform for
alumni of the worlds top 50 business
schools. Join and search a database of inter-
national, non-U.S. jobs, access salary surveys
and discover tips on finding a job in the
worlds key employment markets.
www.msb.edu/mba/alumni
Online Job Postings
The MBA/IEMBA Alumni Job Board is a
board exclusively by and for McDonough
MBA & IEMBA Alumni. For more informa-
tion, visit the MBA & IEMBA Alumni site.
www.msb.edu/mba/alumni
Other online job postings are also available
through Monstertrak, Monster.coms execu-
tive site, 6FigureJobs.com, ExecuNet and
Degree Hunter. www.msb.edu/mba/alumni
Individual Career Counseling
MBA & IEMBA Only
Schedule up to two one-hour sessions with
a career counselor and discuss issues such
as career transitions, job search strategies
and resume development.
www.msb.edu/mba/alumni
Wall Street Alliance
The Wall Street Alliance helps to create
and participate in networking opportunities
for financial professionals and graduating
students. Contact: 212.704.0884
Alumni Clubs Career Programs
The Georgetown University alumni clubs
offer career-related programs such as
workshops and panel discussions of alumni
who have made career transitions.
www.georgetown.edu/alumni
MBA & IEMBA Class Programs
MBA & IEMBA Alumni Class Programs are
being developed to promote communications
among classmates. Class officers prepare
electronic newsletters and help in organizing
reunions and the schools fund-raising
efforts. Volunteers are being sought for all
classes. To volunteer, contact Robert Johnson
by phone at 202.687.6738 or by email at
johnsonr@msb.edu
MBA & IEMBA Class Reunions
McDonough MBA & IEMBA Alumni
reunions have been established to celebrate
the 5-year anniversary of classes each June in
conjunction with the Main Campus Reunion
Weekend. Reunion 2003 runs from May 30
through June 1, 2003.
MBA & IEMBA Alumni Groups
McDonough MBA & IEMBA Alumni
Groups have been established across the
U.S. and overseas in Japan, Mexico and
London and focus on networking functions
including relationships with MBA alumni
from other top business schools.
www.msb.edu/mba/alumni
University Alumni Clubs
Forty-seven Georgetown University Alumni
Clubs exist within the U.S. and internation-
ally. The clubs serve as an excellent way to
meet other University alumni and offer a
variety of activities of particular interest to
MBA/IEMBA Alumni.
www.georgetown.edu/alumni
University Alumni Special Services
The University Alumni Associations special
services include an Alumni Credit Card
through MBNA, Alumni Travel Opportunities
offering group travel opportunities worldwide
and low cost Life and Medical Insurance.
www.georgetown.edu/alumni
For further information, visit the
MBA & IEMBA Alumni website at
mba.georgetown.edu/alumni
Questions?
Contact Robert P. Johnson,
Director of MBA/IEMBA Alumni Programs
at johnsonr@msb.edu
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