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<strong>PROGRESS</strong> <strong>MAGAZINE</strong><br />

THE UNIVERSITY OF ARIZONA<br />

<strong>Eller</strong> <strong>College</strong> <strong>of</strong> <strong>Management</strong><br />

Fall 2006<br />

Entrepreneur <strong>MAGAZINE</strong> NAMES ELLER #1<br />

Scientific start-up one <strong>of</strong> 10 ventures fueling the economy


T H E L A T E S T<br />

New Rankings<br />

U.S. News & World Report<br />

Best <strong>College</strong>s 2007<br />

Undergraduate<br />

Business Programs<br />

#18 overall<br />

#10 among public universities<br />

MIS #4<br />

Entrepreneurship #7<br />

Marketing #21<br />

The Princeton Review and<br />

Entrepreneur magazine<br />

#1 in Undergraduate<br />

Entrepreneurship<br />

#6 in Graduate Entrepreneurship<br />

W W W . E L L E R . A R I Z O N A . E D U<br />

ON THE COVER<br />

Top-ranked program fuels<br />

college-wide innovation<br />

page 16<br />

AWARDING EXCELLENCE<br />

New McCord Scholars program rewards<br />

business school students statewide<br />

page 2<br />

MINING THE DARK WEB<br />

MIS terrorism research garners<br />

nationwide attention<br />

page 6<br />

Fall 2006<br />

P R O G R E S S M A G A Z I N E<br />

FEATURE<br />

16 <strong>Eller</strong> #1 in Entrepreneurship<br />

Top-ranked program fuels college-wide innovation.<br />

BRIEFINGS<br />

2 McCord Scholars Program Awards Excellence<br />

3 2006-2007 New Faculty<br />

6 Mining the Dark Web<br />

8 New Paper Demonstrates Surprising<br />

Result <strong>of</strong> Tighter Borders<br />

9 Paving the Way for Collaboration<br />

INNOVATIONS<br />

10 Summer in the City<br />

11 MS-MIS Program Attracts Future<br />

Technical Entrepreneurs<br />

CONNECTIONS<br />

12 Field Project Success Drives Demand<br />

for Advanced Projects<br />

14 <strong>Eller</strong> MBA Attracts Top Pr<strong>of</strong>essionals<br />

GATHERINGS<br />

24 Distinguished Speaker Series<br />

25 Executive Education<br />

26 Homecoming / Save the Date<br />

ALUMNI NOTES & PROFILES<br />

28 Pr<strong>of</strong>ile: Anne Mariucci, Accounting and Finance '78<br />

29 Alumni Notes<br />

30 Pr<strong>of</strong>ile: Ralph Martel, MBA ‘98<br />

31 Pr<strong>of</strong>ile: Avery Moon, Economics, Applied<br />

and Industrial Mathematics, and Entrepreneurship ‘98<br />

LAST WORD<br />

32 Last Word on Innovation<br />

William E. Conway, Jr. Founding Partner and Managing<br />

Director <strong>of</strong> The Carlyle Group<br />

On the Cover<br />

MSDx developed a business plan to commercialize a blood test for multiple sclerosis.<br />

L-R: Simran Nirh, Marie Wesselh<strong>of</strong>t, Stephen Bassett, and Alan Conger with director<br />

<strong>of</strong> product development Ray Jacolik.<br />

From the Dean<br />

Let Us Hear from You<br />

Please e-mail comments, questions, or feedback to progress@eller.arizona.edu.<br />

Director <strong>of</strong> Marketing and Communications: Julie Krell • Editor: Liz Warren-Pederson • Publications Manager: Marsha Dean<br />

Photography: Thomas Veneklasen (unless otherwise noted) • Design and Production: Shevon Johnson Graphic Design • © 2006 The <strong>University</strong> <strong>of</strong> Arizona<br />

Big entrepreneurial successes get a lot <strong>of</strong> attention. A great idea<br />

conceived in a suburban garage that morphs into a billion-dollar<br />

corporation is a classic riff on the American Dream. From the start, this<br />

country has celebrated and revered the self-made man or woman who<br />

makes it to the top on determination alone.<br />

But success is not measured exclusively by gross revenues. On our cover, the<br />

team behind a company called MSDx gathers in its lab, setting into motion a<br />

business plan that it developed in the McGuire Center for Entrepreneurship<br />

to commercialize a patented blood test for multiple sclerosis. The next<br />

Google? Probably not. But once approved by the FDA, the technology it will<br />

bring to market has the potential to affect many thousands <strong>of</strong> lives.<br />

As research deepens our understanding <strong>of</strong> entrepreneurship — which to this<br />

day struggles to achieve credibility as an educational discipline — it has<br />

become clear that it is not about capturing lightning in a bottle. It is a<br />

process and a mindset that can be learned.<br />

I am proud that the <strong>Eller</strong> <strong>College</strong> <strong>of</strong> <strong>Management</strong> is a leader in teaching<br />

entrepreneurship to undergraduate and graduate students whose<br />

hard-won knowledge will influence our state and nation’s economy.<br />

While the recent rankings are wonderful news, they only serve<br />

to underscore the success our graduates achieve in the world<br />

<strong>of</strong> practice.<br />

Paul R. Portney<br />

Dean and Halle Chair in Leadership<br />

Dean Paul Portney<br />

FALL 2006<br />

1


BRIEFINGS<br />

Awarding Excellence<br />

McCord Scholars program rewards outstanding undergraduate business students statewide.<br />

On October 20, five <strong>Eller</strong> <strong>College</strong> students<br />

were named the first McCord<br />

Scholars. The program was established in<br />

May by Phoenix residents Robert and<br />

Sharon McCord to support up to 12 <strong>Eller</strong><br />

juniors and seniors with $10,000 scholarships<br />

to apply toward costs including<br />

tuition, fees, books, and living expenses.<br />

“We are extremely proud <strong>of</strong> these outstanding<br />

business students and grateful<br />

to the McCord family for their generosity,”<br />

said <strong>Eller</strong> <strong>College</strong> dean Paul Portney.<br />

Matthew Baum (Tucson, Ariz.), Sasha<br />

Meschkow (Scottsdale, Ariz.), Amrietha<br />

Nellan (Tempe, Ariz.), Daniel Sands<br />

(Scottsdale, Ariz.), and Stephanie White<br />

(Tempe, Ariz.) will each receive a<br />

$10,000 scholarship.<br />

“I couldn’t be more thrilled to be<br />

awarded the McCord scholarship,” said<br />

Sands. “Business is certainly the path<br />

that will allow me to make a difference.<br />

This scholarship enables me to pursue a<br />

rigorous business curriculum focused on<br />

the world economy which I believe is<br />

important due to globalization.”<br />

“Dan, Sasha, Stephanie, Matthew, and<br />

Amrietha are the best <strong>of</strong> the best among<br />

business undergraduates,” said Portney.<br />

“The scholarships will enable them to<br />

take full advantage <strong>of</strong> an excellent <strong>Eller</strong><br />

<strong>College</strong> education and make significant<br />

contributions to the business community<br />

upon graduation.”<br />

The McCord Scholars program is not<br />

limited to the <strong>Eller</strong> <strong>College</strong>. The McCord<br />

family donated a total <strong>of</strong> $10 million to<br />

business schools statewide: $1 million to<br />

the <strong>College</strong> <strong>of</strong> Business Administration at<br />

Northern Arizona <strong>University</strong>, $3 million to<br />

the <strong>Eller</strong> <strong>College</strong>, and $6 million to the<br />

W.P. Carey School <strong>of</strong> Business at Arizona<br />

State <strong>University</strong>.<br />

“Each <strong>of</strong> the universities has an important<br />

role,” says Robert McCord. “We<br />

L-R: Matthew Baum, Amrietha Nellan, <strong>Eller</strong> <strong>College</strong> dean Paul Portney, Sacha Meschkow,<br />

Daniel Sands, Sharon and Robert McCord, UA president Robert Shelton, and Stephanie White.<br />

wanted to spread it out to maximize the<br />

ability <strong>of</strong> Arizona’s universities to keep the<br />

best and brightest students in-state.”<br />

The majority <strong>of</strong> undergraduate students<br />

must work to support themselves while<br />

attending college. “My concern is that in<br />

Arizona, public support is not enough,”<br />

says McCord. “And typically, there are<br />

more avenues <strong>of</strong> support for students at<br />

the graduate level.” The McCord scholarships<br />

will reward top-performing undergraduates,<br />

allowing them the freedom to<br />

focus on their academic experience.<br />

“Twenty years ago, I used to recruit at<br />

The <strong>University</strong> <strong>of</strong> Arizona,” says McCord.<br />

“The <strong>Eller</strong> <strong>College</strong> has made great strides<br />

over the years.” <strong>Eller</strong> recently entered the<br />

top ten in public business schools, according<br />

to U.S. News & World Report.<br />

"Education is critical to maintaining<br />

competition in the international marketplace,”<br />

says McCord. “Sharon and I hope<br />

that this financial assistance will make a<br />

difference in the ability <strong>of</strong> talented students<br />

to finish their education at these<br />

exceptional business schools.”<br />

MAKING A DIFFERENCE<br />

While Robert and Sharon McCord’s<br />

extraordinary gift to Arizona’s three<br />

universities will continue to benefit<br />

students in perpetuity, the couple also<br />

directs philanthropic efforts to other<br />

areas. Robert is involved with Habitat<br />

for Humanity, and Sharon serves on the<br />

board <strong>of</strong> Childhelp USA, which <strong>of</strong>fers<br />

an array <strong>of</strong> child abuse prevention and<br />

education programs nationally.<br />

Robert is retired CEO <strong>of</strong> Coldwell<br />

Banker Residential Brokerage, an<br />

umbrella organization <strong>of</strong> 40 real estate<br />

<strong>of</strong>fices with 2,200 sales associates<br />

throughout Arizona, accounting for<br />

nearly $7 billion in total closed sales<br />

volume in 2005. Sharon also works in<br />

real estate and continues with Coldwell<br />

Banker Residential Brokerage.<br />

The couple has five children, two<br />

<strong>of</strong> whom live in Arizona.<br />

New Faculty<br />

AT THE ELLER COLLEGE<br />

This fall, the <strong>Eller</strong><br />

<strong>College</strong> welcomed<br />

seven new faculty<br />

members to its roster <strong>of</strong><br />

top educators<br />

and researchers.<br />

These leaders<br />

will make contributions<br />

in the departments<br />

<strong>of</strong> accounting,<br />

economics, finance,<br />

management and<br />

organizations, and<br />

marketing. Progress<br />

caught up with them to<br />

find out about their<br />

pr<strong>of</strong>essional and<br />

personal interests.<br />

Steven Boivie<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong><br />

<strong>Management</strong> and Organizations<br />

Ph.D., <strong>University</strong> <strong>of</strong> Texas at<br />

Austin, 2006<br />

Steven Boivie came to the <strong>Eller</strong> <strong>College</strong><br />

from the <strong>University</strong> <strong>of</strong> Texas at Austin,<br />

where he earned his Ph.D. and taught<br />

courses in strategic management to<br />

undergraduates. His research is focused<br />

on boards <strong>of</strong> directors and corporate<br />

governance, and he is currently preparing<br />

his dissertation for publication. The dissertation<br />

explores how the board’s human<br />

and social capital can influence the firm’s<br />

performance. “I also looked at how the<br />

corporate governance pr<strong>of</strong>iles <strong>of</strong> firms<br />

may affect the attractiveness <strong>of</strong> the board<br />

position to high-quality directors,” he<br />

says, “and I am developing projects that<br />

examine the labor market for directors<br />

as well as factors that influence<br />

director compensation.”<br />

Mei Cheng<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Accounting<br />

Ph.D., <strong>University</strong> <strong>of</strong> Southern<br />

California, 2006<br />

Mei Cheng earned her Ph.D. at the<br />

<strong>University</strong> <strong>of</strong> Southern California,<br />

where she also lectured in accounting.<br />

Her areas <strong>of</strong> research interest include<br />

archival empirical financial accounting<br />

and equity market and debt market<br />

reactions to accounting information.<br />

Her research has most recently been<br />

cited in The Economist. Cheng earned<br />

her undergraduate degree in Beijing<br />

and worked in Canada before coming<br />

to the U.S. She says that in China,<br />

accounting education emphasizes<br />

memorization, whereas in the U.S. the<br />

emphasis is on understanding. In<br />

Canada, she notes that it falls somewhere<br />

in between. “There is something<br />

in common,” she says, “you've got to<br />

study and work hard.”<br />

2 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 3


BRIEFINGS<br />

New Faculty<br />

AT THE ELLER COLLEGE<br />

Eric Kelley<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Finance<br />

Ph.D., Texas A & M <strong>University</strong>, 2004<br />

Before joining the <strong>Eller</strong> <strong>College</strong>, Eric<br />

Kelley taught as an assistant pr<strong>of</strong>essor<br />

<strong>of</strong> finance at Washington State<br />

<strong>University</strong>. His current research is related<br />

to how institutional investors affect<br />

stock prices, with one project considering<br />

all institutions and a second related<br />

to hedge funds. In the recent paper,<br />

“Evidence to the Contrary: Weekly<br />

Returns have Momentum,” Kelley<br />

shows that stocks with very high<br />

returns in a given week continue to<br />

outperform stocks with very low<br />

returns from that same week for at<br />

least the next year. “This result is surprising<br />

because existing research views<br />

extreme weekly returns as too extreme<br />

and attempts to explain them in that<br />

light,” Kelley says.<br />

Yong Liu<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Marketing<br />

Ph.D., <strong>University</strong> <strong>of</strong> British<br />

Columbia, 2002<br />

Yong Liu’s work has been published in<br />

Marketing Science and Journal <strong>of</strong> Public<br />

Policy and Marketing, and his research<br />

was recently cited in The New York Times.<br />

He comes to the <strong>Eller</strong> <strong>College</strong> from<br />

Syracuse <strong>University</strong>. While Liu’s research<br />

examines the effects <strong>of</strong> advertising and<br />

third-party information, such as word-<strong>of</strong>mouth,<br />

on the motion picture industry,<br />

he earned his bachelor’s and master’s<br />

degrees in engineering economics from<br />

Tianjin <strong>University</strong> in China.<br />

“A large part <strong>of</strong> engineering economics<br />

involves studying market trends to help<br />

manufacturing firms make investment<br />

decisions on their facilities,” he explains.<br />

“So the transition to marketing and<br />

consumer research was very natural.”<br />

Monica Stefanescu<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Accounting<br />

Ph.D., Pennsylvania State<br />

<strong>University</strong>, 2006<br />

Monica Stefanescu is originally from<br />

Romania, where she earned her bachelor’s<br />

and master’s degrees in accounting. She<br />

came to the U.S. to earn her Ph.D. and<br />

pursue her research interests, which<br />

include financial reporting issues and corporate<br />

governance. Stefanescu notes that<br />

the higher education system in the U.S. is<br />

very different than in Romania. In the<br />

U.S., she says, “Students have a wider<br />

choice in terms <strong>of</strong> what and how many<br />

courses to take each semester and<br />

whether to choose a fast-track approach<br />

to their undergraduate education.”<br />

Currently, she says, the Romanian system<br />

is undergoing significant changes and is<br />

moving toward the model applied in the<br />

U.S. Prior to pursuing her doctoral degree,<br />

Stefanescu worked as a corporate<br />

accountant.<br />

Mark Stegeman<br />

Associate Pr<strong>of</strong>essor <strong>of</strong> Economics<br />

Ph.D., Massachusetts Institute <strong>of</strong><br />

Technology, 1987<br />

Mark Stegeman’s research has been published<br />

in Games and Economic Behavior,<br />

Econometrica, and the International Journal<br />

<strong>of</strong> Industrial Organization. Stegeman was<br />

a visiting pr<strong>of</strong>essor at the <strong>Eller</strong> <strong>College</strong> in<br />

2005-2006, and comes here full time from<br />

Virginia Polytechnic Institute and State<br />

<strong>University</strong>, where he served as associate pr<strong>of</strong>essor<br />

<strong>of</strong> economics. His research interests<br />

include game theory and industrial economics,<br />

and one <strong>of</strong> his recent empirical papers<br />

explores entry and exit in the wine industry.<br />

“We are looking at firm-level data concerning<br />

the wine industry in the period immediately<br />

following the ending <strong>of</strong> prohibition,”<br />

he explains. “By examining the flood <strong>of</strong> entry<br />

followed by many exits, we seek to test<br />

various hypotheses concerning what causes<br />

individual firms to enter and exit.”<br />

Mo Xiao<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Economics<br />

Ph.D., <strong>University</strong> <strong>of</strong> California at<br />

Los Angeles, 2003<br />

Mo Xiao came to the <strong>Eller</strong> <strong>College</strong> from<br />

the <strong>University</strong> <strong>of</strong> Rochester, where she<br />

was an assistant pr<strong>of</strong>essor <strong>of</strong> economics.<br />

Xiao is currently working on a<br />

research project titled "Entry Threat<br />

and Entry Deterrence: The Timing <strong>of</strong><br />

Broadband Rollout.” “It's centered on<br />

the relationship between the number<br />

<strong>of</strong> competing firms and the extent <strong>of</strong><br />

actual competition,” she explains. “In<br />

particular, my co-author and I use the<br />

evolution <strong>of</strong> the zip code-level market<br />

structure <strong>of</strong> facilities-based broadband<br />

providers from 1999 to 2004 to investigate<br />

how a firm adjusts its entry<br />

strategy when facing the threat <strong>of</strong><br />

additional entrants.”<br />

4 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 5<br />

Q&A<br />

<strong>PROGRESS</strong>:<br />

What book is on your nightstand?<br />

Steven Boivie: Me Tanner, You Jane by<br />

Lawrence Block. Lawrence Block is one <strong>of</strong><br />

the greatest mystery writers alive.<br />

Eric Kelley: I’m currently reading 2 books<br />

— The Secret Message <strong>of</strong> Jesus by Brian<br />

McLaren and The World is Flat by<br />

Thomas Friedman.<br />

Yong Liu: Most <strong>of</strong> my reading is<br />

entertainment magazines (not so much for<br />

entertaining, but for news and interesting<br />

issues for potential research) and the<br />

media section <strong>of</strong> major newspapers.<br />

Mark Stegeman: All the Shah's Men by<br />

Stephen Kinzer.<br />

<strong>PROGRESS</strong>:<br />

Why did you want to come to The<br />

<strong>University</strong> <strong>of</strong> Arizona?<br />

Mei Cheng: First <strong>of</strong> all, UA has a very good<br />

reputation in accounting research. Secondly,<br />

the people here are very nice, polite, and<br />

warm. Thirdly, I love the Grand Canyon and<br />

the beautiful red rocks <strong>of</strong> Sedona.<br />

<strong>PROGRESS</strong>:<br />

What have you been listening to lately?<br />

Monica Stefanescu: I like all sorts <strong>of</strong><br />

music, from world beat to classic rock to<br />

jazz. My current favorite is the British group<br />

Touch and Go.<br />

Mo Xiao: Leonard Cohen and Tom Waits<br />

are my favorites. A friend <strong>of</strong> mine gave me<br />

Starsailor's Love is Here as a farewell gift<br />

right before I was about to take the road<br />

from Rochester, NY to here. I totally enjoyed<br />

it during my two week road trip.


BRIEFINGS<br />

RESEARCH REPORT<br />

Mining the Dark Web<br />

MIS department develops terrorism informatics.<br />

In the wake <strong>of</strong> the World Trade Center disaster five years ago, one <strong>of</strong><br />

the issues that came into sharp focus was the unpreparedness <strong>of</strong> law<br />

enforcement and the intelligence community to collect, analyze, and<br />

interpret data on terror cells.<br />

“Law enforcement was getting very deep information from their<br />

investigations,” says McClelland Pr<strong>of</strong>essor <strong>of</strong> MIS Hsinchun Chen, but<br />

by researching on a case-by-case basis, “they were doing it the oldfashioned<br />

way. They were behind by many years.”<br />

In 2003, Chen participated in a Sandia National Laboratory conference<br />

called KnowFest, which explored the possibility <strong>of</strong> creating a terrorism<br />

knowledge network.<br />

“The idea was to bring a methodology to it, to look at the issue on a<br />

large scale through collection and analysis,” he continues. Traditional law<br />

MOSUL, IRAQ SUICIDE BOMBING VIDEO FROM THE DARK WEB ARCHIVE<br />

Hsinchun Chen, pr<strong>of</strong>essor <strong>of</strong> MIS<br />

and director <strong>of</strong> the Artificial<br />

Intelligence Laboratory.<br />

PHASE 1: Planning Session PHASE 2: Farewell PHASE 3: Suicide Truck Preparation PHASE 4: Explosion<br />

enforcement and intelligence analyses monitor a specific person’s<br />

online activities, but after the conference, Chen and a team <strong>of</strong><br />

<strong>Eller</strong> graduate students created a series <strong>of</strong> programs and mechanisms<br />

to capture the big picture <strong>of</strong> terrorism informatics through<br />

what has become known as the Dark Web project.<br />

The team designed a set <strong>of</strong> programs to comb through the<br />

Internet, collecting and tracking terrorist and extremist websites<br />

— resulting in a digital library <strong>of</strong> two terabytes’ worth <strong>of</strong> material<br />

including websites, forums, and video clips. The database is one <strong>of</strong><br />

the largest such collections in the world.<br />

In the second phase <strong>of</strong> the project, Chen says his team performs<br />

analysis, including content analysis to address how terror<br />

cells use their web presence to recruit, fundraise, train, and disseminate<br />

propaganda internally and externally. Though the Dark<br />

Web project has collected some 1,500 websites to analyze, Chen<br />

notes, “Sites are stale — it’s the forums that are more interesting.”<br />

Terror groups that are sophisticated<br />

enough to host forums on their websites<br />

— which let visitors and administrators<br />

post messages online — have allowed the<br />

Dark Web team to explore authorship<br />

analysis in English, Chinese, and Arabic.<br />

Authorship analysis is the process <strong>of</strong><br />

determining an individual’s “writeprint” or<br />

unique habits <strong>of</strong> syntax and other considerations.<br />

It was the same assessment<br />

applied to the works <strong>of</strong> Shakespeare<br />

when the sole authorship <strong>of</strong> his plays was<br />

called into question.<br />

Terror cell forums also enable sentiment<br />

analysis, monitoring how infectious<br />

ideas catch fire online and galvanize ter-<br />

THREAD INTERACTION NETWORK —<br />

rorists to take violent action. Chen says<br />

that by tracking those infectious ideas, it<br />

might be possible to seek remedies in the<br />

political arena and counter the message<br />

before the ideas escalate into violence.<br />

But countering extremist measures<br />

falls outside Chen’s expertise. “I’m a pr<strong>of</strong>essor,<br />

not in the CIA,” he says. “We don’t<br />

give leads. What we do is help agencies<br />

who come to us for assistance to develop<br />

a systematic methodology and advanced<br />

technologies. We can teach them to use<br />

the tools we’ve created.”<br />

It’s the same model Chen applied when<br />

he developed COPLINK, an integrated system<br />

<strong>of</strong> law enforcement databases to<br />

support crime analysis through a webbased<br />

interface. The program is now in<br />

use by more than 300 police departments<br />

across the U.S., including throughout the<br />

state <strong>of</strong> Arizona.<br />

“COPLINK was a pretty black and white<br />

program,” says Chen. “We are the good<br />

guys and they are the bad guys, and we<br />

are helping cops do their jobs. The Dark<br />

Web can be a gray area.”<br />

An evaluation <strong>of</strong> the thread<br />

interaction network reveals a<br />

core set <strong>of</strong> participants at the<br />

heart <strong>of</strong> a forum discussion.<br />

Even defining which groups can be considered<br />

terrorist organizations proved challenging.<br />

“The term ‘terrorist’ is politically<br />

charged,” says Chen. One country’s freedom<br />

fighters can be another country’s terrorist<br />

group. Chen says that in their process <strong>of</strong><br />

definition, he and his researchers considered<br />

the policies <strong>of</strong> the U.S. State Department,<br />

the European Union, and China, among others.<br />

The Dark Web project ultimately follows<br />

terror groups as defined by the U.S. State<br />

Department and extremist groups as defined<br />

by the Anti-Defamation League and the<br />

Southern Poverty Law Center.<br />

Also challenging: many <strong>of</strong> Chen’s team <strong>of</strong><br />

master’s and Ph.D.-level MIS students hail<br />

from the regions affected by terrorist activity,<br />

including Palestine and Lebanon. “We’re<br />

an international group,” he says, and part <strong>of</strong><br />

the reason is necessity, since they might not<br />

otherwise have the resources to translate<br />

the range <strong>of</strong> languages represented in the<br />

Dark Web. But, he says, the project is<br />

emotional and people can’t help but<br />

get involved.<br />

In his own assessment, Chen notes that<br />

what’s more alarming than the roughly 20%<br />

<strong>of</strong> fundamentalist Muslims who might be<br />

sympathetic to terror groups like al-Qaida<br />

are the 60% who are in the middle — those<br />

who may become “homegrown” terrorists.<br />

“They can be stirred up by events, but also<br />

flipped from <strong>of</strong>f to on,” he says. “They are<br />

not the hardcore people, but they are a<br />

huge population and that’s the scary part.”<br />

Chen says the Internet has become a flattening<br />

tool, but is not without hope that the<br />

technology he has pioneered might be used<br />

by law enforcement <strong>of</strong>ficials and intelligence<br />

analysts to counter the ability <strong>of</strong><br />

extremist groups to sway the people in the<br />

middle, and to predict and prevent terror<br />

attacks. “That’s our noble goal,” he says, “to<br />

make the world a better place.”<br />

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BRIEFINGS<br />

RESEARCH REPORT<br />

Crossing Over<br />

New paper<br />

demonstrates<br />

surprising results<br />

<strong>of</strong> tighter<br />

border security.<br />

Border controls may<br />

contribute to creating<br />

more permanent<br />

illegal population.<br />

“Border controls may not be an effective<br />

means to reduce the level <strong>of</strong> the<br />

illegal alien population in the United<br />

States,” says Manuela Angelucci, assistant<br />

pr<strong>of</strong>essor <strong>of</strong> economics at the <strong>Eller</strong><br />

<strong>College</strong>. “In fact, they may increase the<br />

stock <strong>of</strong> undocumented migrants and<br />

contribute to creating a more permanent<br />

illegal population.”<br />

It’s not an intuitive conclusion, but in<br />

her forthcoming paper “U.S. Border<br />

Enforcement and the Net Flow <strong>of</strong><br />

Mexican Illegal Migration” Angelucci<br />

demonstrates the result by analyzing<br />

unpublished Immigration and Naturalization<br />

Service data on enforcement<br />

intensity that was merged with individual<br />

illegal migration information from<br />

the Mexican Migration Project.<br />

Angelucci examined data from the<br />

1970s through the 1990s and concluded<br />

that the higher cost <strong>of</strong> migration due to<br />

heightened border enforcement may<br />

increase the number <strong>of</strong> illegal entrants.<br />

The increase in border policing discourages<br />

first-time prospective migrants<br />

from attempting an illegal trip to the<br />

United States. However, it also prevents<br />

some illegal migrants from leaving the<br />

Manuela Angelucci, assistant pr<strong>of</strong>essor<br />

<strong>of</strong> economics.<br />

U.S. to return to Mexico. According to her<br />

research, they stay in the U.S. longer to<br />

recoup the higher cost <strong>of</strong> entry and<br />

because continuing a pattern <strong>of</strong> return<br />

migration has become increasingly risky.<br />

In a less restrictive era, these migrants<br />

returned to Mexico on a regular basis.<br />

“One may argue that border enforcement’s<br />

objective is to stem migrant<br />

inflow, and that different policies are in<br />

place to reduce the stock <strong>of</strong> illegals.<br />

However, in practice this is not the case,”<br />

she says. Angelucci points to the scarce<br />

implementation <strong>of</strong> policies such as<br />

interior enforcement and employer<br />

sanctions. The result is that the net flow<br />

<strong>of</strong> illegal entrants is unaffected by the<br />

increase in spending and personnel at<br />

the border.<br />

Another more subtle effect <strong>of</strong> tight<br />

border policing may be the observed<br />

move <strong>of</strong> migrant occupations from agriculture<br />

into construction, retail, and<br />

manufacturing. She suggests that tighter<br />

enforcement might select for more highly<br />

skilled workers — perhaps only workers<br />

who expect a higher return will make the<br />

greater investment <strong>of</strong> time, energy, and<br />

money necessary to cross.<br />

Fletcher McCusker (left), founder and CEO<br />

<strong>of</strong> Providence Service Corporation, is no<br />

stranger to collaborative networks: in<br />

addition to providing and managing government-sponsored<br />

social services, his<br />

organization manages social services<br />

provider networks. An entrepreneur who<br />

has worked in the public, private, and<br />

nonpr<strong>of</strong>it sectors, McCusker has a unique<br />

understanding <strong>of</strong> each sector’s particular<br />

needs. He and H. Brinton Milward (right)<br />

are discussing possible new initiatives to<br />

improve training for public administration<br />

students at the School <strong>of</strong> Public<br />

Administration and Policy.<br />

Paving the Way for Collaboration<br />

Providence Service Corporation Chair in Public<br />

<strong>Management</strong> helps the School <strong>of</strong> Public Administration<br />

and Policy meet needs <strong>of</strong> tomorrow’s leaders.<br />

In today’s global community,<br />

endeavors from nation building to<br />

disaster relief require an unprecedented<br />

level <strong>of</strong> collaboration<br />

between corporations, governments,<br />

and nonpr<strong>of</strong>it organizations,<br />

and the School <strong>of</strong> Public Administration<br />

and Policy at the <strong>Eller</strong><br />

<strong>College</strong> is training public and<br />

nonpr<strong>of</strong>it managers to meet<br />

the challenges posed by these<br />

changing relationships.<br />

The Providence Service Corporation<br />

Chair in Public <strong>Management</strong>,<br />

awarded to H. Brinton<br />

Milward, associate dean and<br />

director <strong>of</strong> the School <strong>of</strong> Public<br />

Administration and Policy, ensures<br />

that the shifting paradigm in public<br />

management will be accompanied<br />

by state-<strong>of</strong>-the art research leading<br />

to a revolution in the public<br />

management curriculum.<br />

Earlier this year, Milward and<br />

McClelland Pr<strong>of</strong>essor <strong>of</strong> Public<br />

Administration and Policy Keith Provan<br />

co-authored a comprehensive guide<br />

to managing collaborative networks<br />

based on 15 years <strong>of</strong> joint research<br />

in what is believed to be the first<br />

managerial handbook <strong>of</strong> its kind. The<br />

guide provides cross-sector tools that<br />

empower organizations to work<br />

together outside <strong>of</strong> the traditional<br />

bureaucratic command-and-control<br />

model.<br />

Milward says that the Providence<br />

Service Corporation Chair in Public<br />

<strong>Management</strong> will fund new research<br />

and collaborative management efforts<br />

with leading schools in the field, building<br />

a new base for public management<br />

on a foundation <strong>of</strong> sound research.<br />

These collaborations will also yield new<br />

curricular material for the classroom,<br />

including new case studies and exercises<br />

that will be made available to<br />

other public management programs.<br />

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INNOVATIONS<br />

Summer in the City<br />

<strong>Eller</strong> students explore career options in New York and London.<br />

In May, two week-long adventures in<br />

major financial markets helped <strong>Eller</strong> graduates<br />

and undergraduates map out career<br />

paths. Thirteen students traveled to<br />

London for site visits that included the<br />

U.K. Parliament and the London Stock<br />

Exchange. That same month, students<br />

traveled to New York to visit companies<br />

such as Deutsche Bank, the Federal<br />

Reserve Bank, and Goldman Sachs.<br />

<strong>Eller</strong> undergraduates Adriana Martinez (left),<br />

Matthew Baum, and Heather Larson visit the<br />

New York Stock Exchange.<br />

Undergraduate Programs photo<br />

New York City Study Tour<br />

For accounting and finance double<br />

major Adriana Martinez, participating in<br />

<strong>Eller</strong>’s annual New York Study Tour to<br />

New York gave her invaluable insight<br />

into the corporate cultures <strong>of</strong> several<br />

banks, helping her to identify potential<br />

employers with values and work environments<br />

that suit her.<br />

“It made me a lot more focused,” she<br />

says. “I knew I wanted to work in<br />

investment banking, but I didn’t know<br />

which bank I wanted to work for.”<br />

Before the trip, Martinez thought<br />

that working for one bank would be<br />

much the same as working for another,<br />

but meeting with executives from several<br />

institutions changed that perception.<br />

After visiting companies with formal<br />

settings and individual-focused<br />

work, she realized that she would thrive<br />

in Merrill Lynch’s friendly, team-based<br />

environment. She later visited the company’s<br />

Tucson <strong>of</strong>fices and landed a fall<br />

internship with a financial advisor.<br />

For some students like Martinez, the<br />

trip confirmed that they were on the<br />

right path and helped them to hone in<br />

on career objectives. For others, the<br />

opportunity to observe the working<br />

world — a preview <strong>of</strong> things to come —<br />

made them reexamine priorities, and<br />

even consider changing majors to pursue<br />

compelling options they had not<br />

considered.<br />

“The trip was great — really valuable,”<br />

says Martinez. “We learned so much<br />

from the companies and got to see the<br />

‘real’ side <strong>of</strong> business.”<br />

Kuanling Liu photo<br />

Finance instructor Chip Ruscher with<br />

Kuanling Liu at the Bank <strong>of</strong> England<br />

Museum in London.<br />

London Finance Trip<br />

Echoing Adriana Martinez’s experience<br />

in New York, master <strong>of</strong><br />

finance student Kuanling Liu says<br />

that participating in the London<br />

trip helped her pinpoint the type <strong>of</strong><br />

company she would like to work for<br />

in the near future. Most importantly,<br />

she says, “By visiting different<br />

kinds <strong>of</strong> companies, including<br />

banks, auction houses, exchanges,<br />

insurance institutions, financial<br />

media companies, and accounting<br />

firms, I had a great chance to look<br />

into the companies and directly<br />

discuss internal operations with<br />

their employees.”<br />

But the trip also yielded valuable<br />

insight into English culture — historically<br />

and from a business perspective.<br />

“I am an international student<br />

from an Asian country,” says<br />

Liu. She says her experience in<br />

London opened her eyes and gave<br />

her another window into Western<br />

culture outside the United States.<br />

Leading by Change<br />

Futures Council drives curricular evolution.<br />

Conventional wisdom holds that if<br />

something is not broken, there’s no need<br />

to fix it. But the <strong>Eller</strong> <strong>College</strong>’s <strong>Management</strong><br />

Information Systems (MIS) department<br />

— ranked among the top five programs<br />

in the country for 18 consecutive<br />

years by U.S. News & World Report —<br />

decided to buck convention by radically<br />

redesigning its already-successful<br />

master’s program to reflect changing<br />

industry needs.<br />

Just before its 30th anniversary in<br />

2004, the MIS department launched the<br />

Futures Council to address changes in the<br />

marketplace as more and more technology<br />

is outsourced. “We wanted to find out<br />

how business people view the changes in<br />

information technology, and wanted an<br />

ongoing collaboration to see how any<br />

curricular changes we made would affect<br />

the work life <strong>of</strong> our future graduates,”<br />

says MIS department head Mohan<br />

Tanniru. The department took the Futures<br />

Council on the road, meeting with key<br />

executives in cities including Phoenix,<br />

Chicago, Detroit, Milwaukee, and<br />

Washington, D.C. “We synthesized feedback,<br />

presented it at our anniversary celebration,<br />

and used it as a starting point to<br />

OUTSOURCING AND THE FUTURE OF IT<br />

More and more, the <strong>Eller</strong> <strong>College</strong>’s <strong>Management</strong> Information<br />

Systems (MIS) department has had to battle the perception<br />

that all IT jobs are being outsourced to companies in emerging<br />

economies such as India and China. But, says MIS department<br />

head Mohan Tanniru, it’s not true.<br />

The industry has simply evolved: corporate IT departments<br />

are no longer tasking a team with creating a system that can<br />

do X, Y, and Z. “Now they are looking for people who can be<br />

project managers and integrators <strong>of</strong> systems they purchased,”<br />

says Tanniru. In the system development lifecycle <strong>of</strong> plan, analyze,<br />

design, and implement, the old paradigm invested the<br />

most time in the design phase. But those are the jobs that have<br />

redesign the curriculum <strong>of</strong> the master’s in<br />

MIS program,” says Tanniru.<br />

He explains that the assumption people<br />

have is that IT jobs are leaving the U.S. But<br />

in fact, the jobs are still here — the master’s<br />

in MIS has 95% placement in the first<br />

four months after graduation — it’s just<br />

that companies are seeking new types <strong>of</strong><br />

people in what has become a global workforce.<br />

Tanniru says that in the 1980s and<br />

90s, the industry emphasized the analysis<br />

and design phases <strong>of</strong> the system development<br />

lifecycle, but that in the late 90s and<br />

into today, the emphasis has shifted to<br />

understanding how new technologies such<br />

as the Internet can add value to a company<br />

as a part <strong>of</strong> the planning phase.<br />

“Corporations are looking for people who<br />

can examine how new technology can be<br />

implemented to benefit the company as<br />

a whole,” says Tanniru. “They need to think<br />

like entrepreneurs, and we need to make<br />

sure that the curriculum reflects that.”<br />

Curricular changes to the master’s in<br />

MIS program, based on Futures Council<br />

feedback, went into effect this fall. “These<br />

changes evolved out <strong>of</strong> constant dialogue<br />

with corporations,” says Tanniru. “We are<br />

continually seeking input on the in-depth<br />

Mohan Tanniru (right) with Futures Council<br />

attendees in Orlando, Fla.<br />

learning objectives <strong>of</strong> courses, finding out<br />

the key things students should practice<br />

while in the program.”<br />

“It’s not easy to change,” he continues.<br />

“Our faculty made a collective decision to<br />

embrace change by reexamining the curriculum<br />

and to lead the field by taking<br />

this risk. We’re not waiting five years to<br />

see how the field changes, we are using<br />

the Futures Council as an input mechanism<br />

for leading that change.”<br />

The Futures Council continued in<br />

2006 with conferences in Florida,<br />

Massachusetts, and California, and the<br />

MIS department is working to expand the<br />

program’s overseas reach, hoping that<br />

Singapore, India, and Korea will join<br />

Manchester, England, on the list <strong>of</strong><br />

international conference locations.<br />

moved overseas. Now a new cycle — called the strategic IT lifecycle<br />

— preceeds the system development lifecycle. It’s this new<br />

lifecycle that requires workers who can apply entrepreneurial<br />

thinking to problem solving and recognize potential in new<br />

technology. Curricular changes in the <strong>Eller</strong> master’s in MIS program<br />

ensure that the next generation <strong>of</strong> IT leaders are prepared<br />

to operate in this new framework.<br />

“Young students should not be discouraged from the IT pr<strong>of</strong>ession,”<br />

says Tanniru. “The MIS department is developing K-12<br />

programs and summer camps as a mechanism to educate students,<br />

parents, teachers, and the community that the future<br />

holds exciting opportunities in this field.”<br />

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MIS department photo


CONNECTIONS<br />

Textbook Win-Win<br />

MBA Field Project success drives demand for advanced projects.<br />

Increasingly, business schools recognize<br />

that the key to an engaging and rigorous<br />

MBA experience lies in experiential learning<br />

— taking students from the classroom to<br />

the <strong>of</strong>fice and boardroom, where academic<br />

acumen is transformed into managerial<br />

substance.<br />

“These are not extracurricular activities,”<br />

says associate dean and <strong>Eller</strong> MBA director<br />

Brent Chrite. “It’s easy for students to stay<br />

in class and take a few tests, but we need<br />

to get them out <strong>of</strong> their comfort zones.<br />

Experiential learning through field projects<br />

is a risk — the stakes are higher, and<br />

students need to create value for the<br />

companies with which they work.”<br />

At the <strong>Eller</strong> <strong>College</strong> <strong>of</strong> <strong>Management</strong>, student<br />

consulting teams have brought entrepreneurial<br />

energy and creativity to bear in<br />

tackling organizational challenges from<br />

market strategy to pricing analysis, and the<br />

success <strong>of</strong> these collaborations with local<br />

and regional companies has resulted in a<br />

new initiative: advanced field projects.<br />

This fall, six interdisciplinary teams <strong>of</strong><br />

graduate students — each led by a secondyear<br />

MBA student who already completed a<br />

spring semester field project — will take on<br />

in-depth challenges for companies and<br />

nonpr<strong>of</strong>it organizations such as Toyota,<br />

United Way, Emerson Electric, and The<br />

Freshwater Group.<br />

At the end <strong>of</strong> the spring semester, the<br />

participating students self-selected the<br />

companies they are consulting for this fall<br />

based on career goals and interest in the<br />

defined organizational challenge. In<br />

August, the student teams met with company<br />

executives to define the scope <strong>of</strong> the<br />

project and the expectations for success.<br />

On December 1, the teams will present<br />

their results in a field project showcase.<br />

Progress checked in with two teams as<br />

they began the process, and will follow<br />

their results in an upcoming issue.<br />

<strong>Eller</strong> <strong>College</strong> photo<br />

PROJECT OVERVIEW: TOYOTA<br />

MBA candidates Ada Ling and Terry Fan have teamed with master’s<br />

in engineering candidates Xu Li and Yejuan Long in a consulting<br />

project for Torrance, Calif.-based Toyota Motor Sales, U.S.A., Inc.<br />

(TMS/USA), which oversees Toyota sales and operations in 49 states.<br />

“TMS/USA is interested in developing an optimized IT sourcing and<br />

supplier management approach that leverages the benefits inherent<br />

in the Toyota Way and the Toyota Production System,” explains Tom<br />

Miller, who consults with the students on behalf <strong>of</strong> the company.<br />

“We are seeking a detailed recommendation for a comprehensive<br />

sourcing and supplier management approach that considers the<br />

benefits <strong>of</strong> the various philosophies and approaches commonly used<br />

by Toyota Production System, by US Government agencies, and by IT<br />

organizations.”<br />

“My role is providing necessary quantitative assistance and IT outsourcing<br />

strategy analysis in the project,” says Li. “It’s a great experience<br />

to collaborate with MBA students from the <strong>Eller</strong> <strong>College</strong>. They<br />

are really pr<strong>of</strong>essional and well-organized in business consulting.”<br />

Tom Miller <strong>of</strong> Toyota (second from left) with faculty advisor Lisa Ordóñez (left) consult<br />

with the Field Project team.<br />

PROJECT OVERVIEW: THE FRESHWATER GROUP<br />

L-R: Ben McDonald and Teresa Kolodny consult with<br />

Bill Zachau <strong>of</strong> The Freshwater Group team.<br />

The Freshwater Group — a senior living development company<br />

formed in 2005 by The Fountains founder David Freshwater (<strong>Eller</strong> MS<br />

Finance ‘81) — hired an <strong>Eller</strong> <strong>College</strong> field project team to develop a<br />

new methodology for its market research.<br />

<strong>Eller</strong> <strong>College</strong> paired MBA ‘07 candidate Ben McDonald with Teresa<br />

Kolodny, a Ph.D. candidate in Rehabilitation with a dual minor in<br />

Special Education and Gerontology, to meet the challenge.<br />

“My role is to help bridge the business element <strong>of</strong> our project with<br />

the social service element,” says McDonald. “I'm using the knowledge<br />

and skills from both my background and <strong>Eller</strong> MBA education to help<br />

our team create better living conditions for our society's elderly.”<br />

McDonald traces his interest in working with seniors to his freshman<br />

year at Northern Arizona <strong>University</strong>, during which he volunteered at<br />

a nursing home. “I was moved by the ubiquitous desperation <strong>of</strong> the<br />

residents and thought to myself, ‘There's got to be a better way to<br />

take care <strong>of</strong> our nation’s elderly than this.’” He also managed a<br />

small assisted living home in Verde Valley, Ariz., and this summer<br />

completed a management internship with a retirement community<br />

in Oro Valley, Ariz.<br />

“I find this project very appealing because I work with people who<br />

are aging and who are worried about the supports they will have in<br />

the future,” says Kolodny. “As a prior director <strong>of</strong> a large human services<br />

agency and counselor, being organized and getting teams<br />

together has been a primary function for me, so this feels natural.”<br />

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<strong>Eller</strong> <strong>College</strong> photo


CONNECTIONS<br />

Meet the Execs<br />

<strong>Eller</strong> MBA program attracts top pr<strong>of</strong>essionals.<br />

In addition to outstanding new<br />

full-time and evening MBA classes,<br />

this fall the <strong>Eller</strong> <strong>College</strong> inaugurated<br />

a Phoenix-based Executive MBA<br />

cohort comprised <strong>of</strong> 55 exceptional<br />

executives from Arizona and<br />

the Southwest. “This represents an<br />

important component <strong>of</strong> a strategic<br />

portfolio <strong>of</strong> both degree and nondegree<br />

programs that the <strong>Eller</strong> MBA<br />

program will be delivering in the<br />

Phoenix area,” says MBA director and<br />

associate dean Brent Chrite. It also<br />

represents significant growth in a<br />

program which launched just<br />

a year ago. Following the fall<br />

graduation <strong>of</strong> the inaugural class<br />

<strong>of</strong> Executive MBAs, the program is<br />

gaining recognition for its innovative,<br />

module-based curriculum and<br />

focus on real-time returns.<br />

We are pleased to introduce you<br />

to some <strong>of</strong> the outstanding individuals<br />

who are taking advantage<br />

<strong>of</strong> <strong>Eller</strong>’s Evening and Executive<br />

MBA programs designed for busy<br />

working pr<strong>of</strong>essionals.<br />

“Lately I've been involved in developing<br />

new technologies for molybdenum<br />

processing, tackling the engineering<br />

challenges, but also completing feasibility<br />

studies, economic justifications, environmental<br />

impacts, market impact studies,<br />

even legal evaluations. An MBA will help<br />

me better communicate with the range<br />

<strong>of</strong> people I work with, from accountants<br />

to environmental engineers.”<br />

Peter Amelunxen photo<br />

PETER AMELUNXEN<br />

Evening MBA ‘08<br />

Senior Process Engineer, Phelps Dodge Climax<br />

Peter Amelunxen earned an undergraduate<br />

degree in mining engineering from The<br />

<strong>University</strong> <strong>of</strong> Arizona, and a master’s in mineral<br />

processing engineering from McGill <strong>University</strong> in<br />

Montreal, Canada. “During my eight-year career,<br />

I've worked in several different applications <strong>of</strong><br />

metallurgy,” says Amelunxen. “I've also been<br />

fortunate to have worked on many projects in<br />

Chile, South Africa, and Papua New Guinea,<br />

among others.”<br />

“I am planning to leverage my MBA<br />

to broaden my knowledge and<br />

apply key learning for more effective<br />

strategic business planning.<br />

The Innovation Project will provide<br />

immediate return on my investment<br />

and also build a foundation<br />

for the future.”<br />

CARMEN BELL<br />

Executive MBA ‘07<br />

Senior Vice President Home Equity Sales,<br />

Wells Fargo Consumer Credit Group<br />

At Wells Fargo, Carmen Bell is responsible for<br />

direct to consumer home equity sales via<br />

Internet and phone channels, including 150+<br />

telesales consultants in Phoenix and Colorado<br />

Springs. She earned her undergraduate<br />

degree in business management from Briar<br />

Cliff <strong>College</strong> in Iowa, where she was a twosport<br />

athlete in s<strong>of</strong>tball and volleyball.<br />

“My company was recently acquired<br />

by a global corporation with exciting<br />

growth expectations, so the <strong>Eller</strong><br />

Executive MBA program will assist<br />

me in charting accelerated growth<br />

strategies. Ultimately, I hope that this<br />

program prepares me to assume a<br />

greater leadership role.”<br />

DAVID CANHAM<br />

Executive MBA ‘07<br />

Senior Vice President, Sales,<br />

Direct Alliance Corporation<br />

David Canham has over 20 years <strong>of</strong> IT industry<br />

experience in the fields <strong>of</strong> sales, marketing,<br />

and product management. “I have had the<br />

opportunity to work with many bright and<br />

creative leaders over the years,” he says. “I am<br />

most proud <strong>of</strong> being part <strong>of</strong> a small team that<br />

was given the opportunity to start a subsidiary<br />

company for IBM.” The experience<br />

allowed Canham and his family to move to<br />

the U.S. from Canada in 1993, and they have<br />

since become U.S. citizens.<br />

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FALL 2006 15<br />

Carmen Bell photo<br />

<strong>Eller</strong> <strong>College</strong> photo


FEATURE<br />

ELLER #1 IN ENTREPRENEURSHIP<br />

Top-ranked McGuire Center fuels entrepreneurial<br />

innovation throughout the <strong>Eller</strong> <strong>College</strong>.<br />

BUILDING<br />

on SUCCESS<br />

1 2 3 4 5 6<br />

L-R: Recent graduates Stephen<br />

Tanenbaum, Alex Farkas, Jonathan<br />

Pucciarelli, and Greg Rosborough,<br />

winners <strong>of</strong> two national business plan<br />

competitions while students in the<br />

McGuire Center for Entrepreneurship.<br />

Farkas, Tanenbaum, and Rosborough<br />

went on to develop and launch<br />

Ugallery.com, which markets<br />

and sells collegiate artwork.<br />

For sale on Ugallery.com,<br />

art pictured above is by:<br />

1. Andrew Wingert,<br />

<strong>University</strong> <strong>of</strong> Cincinnati<br />

2. Austin Given,<br />

The <strong>University</strong> <strong>of</strong> Arizona<br />

3. Maria Tsaguriya,<br />

Fashion Institute <strong>of</strong> Technology<br />

4. Austin Given,<br />

The <strong>University</strong> <strong>of</strong> Arizona<br />

5. Will Halstead,<br />

The <strong>University</strong> <strong>of</strong> Arizona<br />

6. Jerald Zivic<br />

The <strong>University</strong> <strong>of</strong> Arizona<br />

Three first-place wins at national business plan<br />

competitions last year. Ten new ventures launching this<br />

year. 300 business launches in 22 years <strong>of</strong> excellence.<br />

And now the McGuire Center for Entrepreneurship has<br />

been named the top-ranked undergraduate program in<br />

the country by Entrepreneur magazine.<br />

The success <strong>of</strong> <strong>Eller</strong>’s entrepreneurship program<br />

hinges on a pioneering approach to leading students<br />

through the process <strong>of</strong> moving an idea to market, and<br />

to building successful cross-college collaborations, such<br />

as those with The <strong>University</strong> <strong>of</strong> Arizona’s Office <strong>of</strong><br />

Technology Transfer and a wide range <strong>of</strong> colleges,<br />

schools, and study areas — plus other institutions.<br />

But continual refinement ensures that the program<br />

evolves as fast as the marketplace demands, and fuels<br />

an entrepreneurial influence throughout the <strong>Eller</strong><br />

<strong>College</strong>, supporting the <strong>College</strong>’s teaching and research,<br />

and spearheading a culture <strong>of</strong> innovation.<br />

16 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 17


FEATURE<br />

COUNTDOWN to LAUNCH<br />

Ten ventures developed in the McGuire Center take <strong>of</strong>f this year.<br />

When Sherry Hoskinson, director <strong>of</strong> the<br />

McGuire Center for Entrepreneurship, says<br />

that students in the Center’s entrepreneurship<br />

program turn ideas into reality, she’s<br />

not kidding.<br />

Through a unique partnership with The<br />

<strong>University</strong> <strong>of</strong> Arizona’s Office <strong>of</strong> Technology<br />

Transfer, students developing business plans<br />

from third-party ideas sign a memo <strong>of</strong><br />

understanding which gives them intellectual<br />

property rights to the venture plans that they<br />

develop during their time in the McGuire<br />

Center. It’s one reason why so many plans<br />

that come out <strong>of</strong> the program actually make<br />

it to the marketplace: students are stakeholders<br />

in burgeoning businesses, not paper<br />

pushers in an academic exercise.<br />

And while business plans serve an important<br />

role in the program, Hoskinson notes<br />

that they are an executable component <strong>of</strong><br />

the process, that true entrepreneurship<br />

focuses on a cross-disciplinary approach<br />

to commercializing an innovative product,<br />

service, or business model.<br />

The McGuire Center brings it all together<br />

through a process called The Idea Path, which<br />

serves as a roadmap to venture development,<br />

tested along the way by ten established<br />

benchmarks and overseen by mentors-inresidence.<br />

But perhaps most importantly,<br />

The Idea Path serves ventures <strong>of</strong> all sorts.<br />

“Entrepreneurship is not a boutique-y<br />

thing,” says Hoskinson. “The broadest set<br />

<strong>of</strong> examples exists to illustrate how the<br />

entrepreneurial influence can be realized<br />

in countless ways, across fields.”<br />

In 2006, 10 companies are launching as<br />

students in entrepreneurship find themselves<br />

graduating into top positions in their<br />

own ventures.<br />

MSDx<br />

Without a strategy for commercialization, a<br />

much-needed blood test for multiple sclerosis<br />

developed by two East Coast hematologists was<br />

going nowhere fast. But when McGuire Center<br />

affiliate faculty member Rick Gibson heard about<br />

the test and passed the lead on to entrepreneurship<br />

students (pictured above left to right) Simran<br />

Nirh, Marie Wesselh<strong>of</strong>t, Stephen Bassett, and<br />

Allan Conger, MSDx was born. “It was one <strong>of</strong><br />

those serendipitous things,” says Wesselh<strong>of</strong>t.<br />

The venture placed well at several business<br />

plan competitions, and now MSDx has launched<br />

with <strong>of</strong>fice and lab space and hired director<br />

<strong>of</strong> product development Ray Jacolik, (pictured<br />

above right) at the Arizona Center for Innovation<br />

at The <strong>University</strong> <strong>of</strong> Arizona Science and<br />

Technology Park.<br />

With an estimated 2.5 million people worldwide<br />

affected by MS, and no definitive treatment or<br />

diagnostic tool, the test MSDx will bring to market<br />

has great potential for the medical community.<br />

Though MSDx has launched, Wesselh<strong>of</strong>t says<br />

the test has many hurdles to jump, including FDA<br />

approval, before it is finally available to the public.<br />

REAL FOOD RESTAURANTS<br />

REAL Food Restaurants general manager<br />

Eric Witt (right) and product manager Stephen<br />

Goldstein (left) are at the midpoint in the<br />

launch <strong>of</strong> their healthy, all-organic fast casual<br />

restaurant.<br />

In the months after graduation, Witt and<br />

Goldstein brought on executive chef Greg Smith<br />

(center) <strong>of</strong> the Tucson Marriott <strong>University</strong> Park<br />

and worked to finalize a menu <strong>of</strong> tasty, nutritious<br />

options for on-the-go executives and<br />

families. Once the menu was finalized, the team<br />

secured vendors for their organic produce.<br />

Now Witt and Goldstein are working with a<br />

real estate services company to identify space to<br />

lease in northwest Tucson. Once they find the<br />

ideal space, they will focus their resources on<br />

designing the restaurant.<br />

REAL Food Restaurant plans to <strong>of</strong>ficially open<br />

in the fall <strong>of</strong> 2007, a strategic decision born<br />

from the team’s extensive market research.<br />

UGALLERY.COM<br />

In October 2006, Alex Farkas (second from<br />

left), Greg Rosborough (right), and Stephen<br />

Tanenbaum launched Ugallery.com, which they<br />

developed as Original Theory last year in the<br />

McGuire Center for Entrepreneurship. Farkas and<br />

Rosborough are pictured with Jonathan<br />

Pucciarelli (left) and one <strong>of</strong> their featured artists.<br />

Based in Scottsdale, Ariz., the company<br />

markets paintings, drawings, and photography<br />

by student artists to collectors online — making<br />

it easy for art lovers to find and afford original<br />

work by “the next big thing” in the art world.<br />

Their site is refreshingly easy to use and interactive,<br />

with tools that allow users to hang<br />

potential purchases in virtual versions <strong>of</strong> their<br />

own rooms — including the ability to specify<br />

wall dimensions and paint color.<br />

Users can search by medium, color, size,<br />

price, and even university — so art lovers can<br />

hone in on work produced at their alma mater.<br />

Ugallery.com currently represents 30 artists<br />

from 18 schools.<br />

THESE TEN COMPANIES DEVELOPED THIS YEAR IN THE MCGUIRE CENTER FOR ENTREPRENEURSHIP ARE IN LAUNCH PHASE:<br />

BVM (Blood Vessel Mimic) • Cetra Coatings • DigiTrunk • GenSong • Interkenetic Technologies • MSDx (Multiple Sclerosis Diagnostics, LLC) •<br />

On Demand • REAL Food Restaurants • Ugallery.com • Upper Hand Athletics • Read more about them in the current issue <strong>of</strong> Enterprise magazine<br />

at www.entrepreneurship.eller.arizona.edu.<br />

18 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 19


FEATURE<br />

INNOVATION through<br />

COLLABORATION<br />

McGuire Center director<br />

Sherry Hoskinson (left, standing) and<br />

associate pr<strong>of</strong>essor <strong>of</strong> law Darian<br />

Ibrahim (right, seated) work with law<br />

and entrepreneurship students.<br />

Ten years ago, there were fewer<br />

than 100 centers for entrepreneurship,<br />

estimates McGuire Center director Sherry<br />

Hoskinson. Now, according to Business<br />

Week, two-thirds <strong>of</strong> the nation’s 2,000<br />

business schools <strong>of</strong>fer programs in<br />

entrepreneurship. The program at the<br />

<strong>Eller</strong> <strong>College</strong> maintains competitive<br />

advantage through a series <strong>of</strong> crosscollegiate<br />

collaborative initiatives.<br />

LAYING DOWN THE LAW<br />

The legal ramifications <strong>of</strong> launching a<br />

new venture are as important as financials<br />

or the marketing plan, but until recently<br />

the McGuire Center did not have curricular<br />

resources in place for students as they<br />

navigated the law. Center director Sherry<br />

Hoskinson partnered with associate pr<strong>of</strong>essors<br />

David E. Adelman and Darian M.<br />

Ibrahim <strong>of</strong> the James E. Rogers <strong>College</strong> <strong>of</strong><br />

Law to create a program to address the<br />

need. Finding no existing law/entrepreneurship<br />

exchange model to adapt, the<br />

three piloted their own.<br />

“Law students from a series <strong>of</strong> four<br />

courses on topics like intellectual property<br />

transfer have the option to enroll in a lab<br />

course that deals with early-stage issues<br />

including patent law,” says Hoskinson. The<br />

lab course prepares the law students for<br />

their work with entrepreneurship teams.<br />

“The exchange culminates in a fall<br />

practicum, led by practicing lawyers<br />

as a simulated law firm with the<br />

entrepreneurship teams as clients and<br />

law students as mock counsel.”<br />

In addition to providing entrepreneurship<br />

teams with vital legal insights, the<br />

program also serves as a training ground<br />

for young attorneys, preparing them<br />

to work with clients and apply their<br />

academic knowledge <strong>of</strong> law to real-world<br />

situations. The program, which received<br />

funding from the Kauffman Foundation,<br />

<strong>of</strong>ficially launches in spring 2007.<br />

CONNECTING WITH ACADEMIC<br />

INNOVATORS<br />

Research institutions like The <strong>University</strong> <strong>of</strong><br />

Arizona are breeding grounds for innovative<br />

ideas and technologies, but most faculty<br />

researchers don’t need or want “serial entrepreneur”<br />

on their CVs. The UA’s Office <strong>of</strong><br />

Technology Transfer (OTT) paves the way for<br />

innovation developed at the UA to come to<br />

market — not for the financial gain <strong>of</strong> the<br />

institution, since the UA cannot hold equity in<br />

private firms, but for the public good. The<br />

McGuire Center for Entrepreneurship partners<br />

with the OTT on a colloquium for faculty members<br />

to provide tools to assess potential market<br />

value and growth for their innovations.<br />

Hoskinson reports that last fall’s colloquium<br />

was a huge success, and included faculty participants<br />

in everything from Slavic Studies to<br />

Medicine. A second edition is scheduled for<br />

this year.<br />

<strong>Eller</strong> undergraduates present<br />

their business plans at the<br />

Core Project Expo.<br />

AN UNDERGRADUATE INTRO TO THE IDEA PATH<br />

In 2005, Undergraduate Programs at the <strong>Eller</strong> <strong>College</strong> inaugurated<br />

a program through which all juniors — some 800+ students<br />

annually — work in teams throughout the semester to develop<br />

business plans for new ventures. Building on business knowledge<br />

across the curriculum — including marketing, accounting, and<br />

management — the students create presentations and written<br />

plans that are featured at each semester’s Core Project Expo.<br />

It’s a vital introduction to the process <strong>of</strong> looking at a problem<br />

from all angles — and all disciplines — to arrive at innovative<br />

solutions. It’s also at the core <strong>of</strong> an entrepreneurial approach to<br />

business, a trait valued more and more by companies as they<br />

strive to compete.<br />

Students galvanized by the process may choose to formally<br />

apply to the McGuire Center to explore The Idea Path thoroughly.<br />

According to statistics on the impact <strong>of</strong> entrepreneurship education<br />

published by the Kauffman Center, McGuire Center alumni<br />

earn 27% more annually than <strong>Eller</strong> alumni who did not go<br />

through the entrepreneurship program. And they are three times<br />

more likely to start ventures, be involved in startup companies, or<br />

be self-employed — underlining the fact that the entrepreneurial<br />

experience empowers people to determine career outcomes in line<br />

with their own personal goals, whether that means creating a<br />

home-based business or launching a new technology firm.<br />

20 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

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FALL 2006 21


FEATURE<br />

INNOVATION and<br />

INDUSTRY<br />

Meeting unstated needs.<br />

“After almost three decades <strong>of</strong> focusing on reducing costs and<br />

improving quality, American companies are realizing that innovation<br />

is the key to creating and sustaining competitive advantage,”<br />

says Ken Smith, <strong>Eller</strong> Distinguished Pr<strong>of</strong>essor <strong>of</strong><br />

Economics, APS Pr<strong>of</strong>essor <strong>of</strong> Technology <strong>Management</strong>, and<br />

former dean <strong>of</strong> the <strong>Eller</strong> <strong>College</strong>. “They recognize that the<br />

Six Sigma way alone can’t drive the growth that they<br />

want. The focus needs to be on dynamic efficiency.”<br />

In his article “Building an Innovation Ecosystem:<br />

Process, Cultures, and Competencies,” Smith examined<br />

the imperative for corporations to generate<br />

new revenue streams by taking ideas into the<br />

marketplace, and the concurrent need to<br />

implement an explicit system through which<br />

entrepreneurial thinking is fostered and rewarded.<br />

“To be successful, organizations must develop an explicit<br />

innovation process,” says Smith. “They must build an organizational culture<br />

that rewards innovative behaviors and practices, and attract, train, and promote<br />

employees with the skill sets to perform new roles and responsibilities.”<br />

Smith’s article appeared in an issue <strong>of</strong> Industry & Higher Education that explores the topic <strong>of</strong><br />

innovation and its implications for management, policy, and higher education around the world. In<br />

addition to investigating the entrepreneurial success <strong>of</strong> emerging economies such as India, Ireland,<br />

and New Zealand, the issue examines the growing corporate need for employees with new skill sets,<br />

and ways that higher education can build those skills.<br />

In a nutshell, companies are clamoring for workers with a broader perspective. “They are looking<br />

for people who can connect across disciplines,” says Smith. “Potential hires need depth <strong>of</strong> knowledge<br />

in one area, but also a breadth <strong>of</strong> knowledge across the field.” Often, that translates to a<br />

person with a joint scientific and business background — one reason why dual-degree programs are<br />

on the rise. “We need to connect business and science in the learning process,” says Smith.<br />

For example, a company that is in the service industry is contracted to perform certain tasks, and<br />

its success is gauged by the efficiency and quality with which those tasks are completed. “But the<br />

client is also interested in how the company can meet its unstated needs,” says Smith. Company<br />

leaders who understand the technology at work and have a broad business perspective are in a<br />

unique position to pinpoint opportunities for innovation for clients.<br />

As part <strong>of</strong> his study <strong>of</strong> the “innovation ecosystem,” Smith spent time in India in the education<br />

and research division <strong>of</strong> outsourcing giant Infosys. The experience allowed him to assess the<br />

characteristics <strong>of</strong> a successful organization performing at a high level and identify opportunities<br />

to foster innovation companywide. “There is no dearth <strong>of</strong> innovative activity within corporations,”<br />

Smith says. “The challenge is to organize it in a systematic process.”<br />

PREPARING TO MEET THE NEED<br />

1st National Bank <strong>of</strong> Arizona board<br />

chairman Ray Lamb (second from<br />

right) and with his family, Phil,<br />

Elizabeth, and Patrick (<strong>Eller</strong> BSBA ‘93).<br />

REWARDING young<br />

ENTREPRENEURS<br />

<strong>College</strong> launches Arizona Youth Entrepreneurship Award<br />

Sponsored by 1st National Bank <strong>of</strong> Arizona.<br />

In order to develop greater capacity<br />

for innovation, corporations must<br />

seek out students with deeper and<br />

broader skill sets.<br />

The <strong>Eller</strong> <strong>College</strong> is preparing<br />

students through collaborative<br />

degree programs with colleges<br />

across The <strong>University</strong> <strong>of</strong> Arizona,<br />

ensuring that the next generation <strong>of</strong><br />

leaders combines business acumen<br />

with deeper science knowledge.<br />

Eighteen students are currently<br />

working toward MBA degrees<br />

partnered with master’s degrees in<br />

areas including optics, engineering,<br />

and computer science.<br />

IBM and Raytheon already see<br />

the value <strong>of</strong> these programs: both<br />

companies are sponsoring dualdegree<br />

students at The <strong>University</strong><br />

<strong>of</strong> Arizona.<br />

In partnership with 1st National Bank <strong>of</strong> Arizona, the <strong>Eller</strong> <strong>College</strong><br />

<strong>of</strong> <strong>Management</strong> has developed a program to reward and encourage<br />

entrepreneurially-minded high school students.<br />

“An entrepreneurial approach to strategy and problem solving is essential<br />

to success in any industry,” says R. Patrick Lamb, president, mortgage<br />

division <strong>of</strong> 1st National Bank <strong>of</strong> Arizona. “It’s important to encourage the<br />

entrepreneurial spirit in the next generation <strong>of</strong> business leaders, and this<br />

award does just that.”<br />

Lamb graduated from the <strong>Eller</strong> <strong>College</strong> with an entrepreneurship<br />

degree in 1993. After earning an MBA and a law degree from Georgetown<br />

<strong>University</strong>, he worked for a New York City firm before joining 1st National<br />

Bank <strong>of</strong> Arizona. “My time in the McGuire Center for Entrepreneurship<br />

proved valuable in my career, giving me a big-picture approach to problem<br />

solving and the flexibility to take on tasks in different departments <strong>of</strong> the<br />

bank,” he says.<br />

Any student enrolled in an Arizona high school is welcome to submit an<br />

application for consideration; a panel <strong>of</strong> judges consisting <strong>of</strong> three Arizona<br />

business leaders, three McGuire Center students, and the dean <strong>of</strong> the <strong>Eller</strong><br />

<strong>College</strong> will select six finalists from the submissions. Those six students<br />

will be invited to participate in a coaching forum at the annual McGuire<br />

Center for Entrepreneurship Business Plans Competition in April 2007.<br />

Each finalist will be recognized at the competition: three honorable<br />

mention awardees will each receive $500, third-place will receive $1,000,<br />

second-place will receive $1,500, and first-place will receive $2,000. The<br />

<strong>Eller</strong> <strong>College</strong> will also match the awards in scholarships if the awardees<br />

enroll in The <strong>University</strong> <strong>of</strong> Arizona and select an <strong>Eller</strong> major.<br />

More information is available at www.AZBizIdeas.com<br />

22 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 23


GATHERINGS GATHERINGS GATHERINGS<br />

S P E A K E R S E R I E S<br />

Pictured above left to right:<br />

Patrick Kuhse<br />

Ethics Consultant<br />

Bill Emmott<br />

Former Editor <strong>of</strong> The Economist<br />

Bill Wiersma<br />

Author <strong>of</strong> The Big Aha<br />

Jim Kolbe<br />

U.S. Representative<br />

Gregg Lowe<br />

Senior Vice President<br />

Texas Instruments<br />

Lute Olson<br />

Coach, The <strong>University</strong> <strong>of</strong><br />

Arizona Men’s Basketball<br />

Susan Bies<br />

Board <strong>of</strong> Governors,<br />

Federal Reserve System<br />

Robert E. Grady<br />

Managing Director,<br />

The Carlyle Group<br />

Gwen Ifill<br />

Managing Editor, “Washington Week”<br />

Senior Correspondent,<br />

“NewsHour with Jim Lehrer”<br />

Distinguished Speaker Series<br />

Connecting with industry leaders.<br />

Each year, the <strong>Eller</strong> <strong>College</strong> brings high-pr<strong>of</strong>ile<br />

executives from a variety <strong>of</strong> fields to The <strong>University</strong><br />

<strong>of</strong> Arizona for the Distinguished Speaker Series.<br />

These leaders address topics and issues that affect<br />

organizations, industry, business, and community.<br />

Distinguished Speaker Series events begin at<br />

5:15 pm at McClelland Hall with a reception<br />

following, unless otherwise noted.<br />

Susan Schmidt Bies January 18, 2007<br />

Full-term member <strong>of</strong> the Board <strong>of</strong> Governors <strong>of</strong> the<br />

Federal Reserve System<br />

Robert F. Grady February 15, 2007<br />

Managing director <strong>of</strong> private equity firm<br />

The Carlyle Group<br />

Gwen Ifill March 5, 2007<br />

Moderator and managing editor <strong>of</strong> "Washington Week"<br />

and senior correspondent for "The NewsHour<br />

with Jim Lehrer"<br />

Bill Emmott, editor <strong>of</strong> The Economist from 1993-2006,<br />

addressed a crowd <strong>of</strong> more than 300 for the Fathauer<br />

Lecture in Political Economy at McClelland Hall on<br />

September 27.<br />

EXECUTIVE EDUCATION<br />

Driving results for business leaders.<br />

With the success <strong>of</strong> the <strong>Eller</strong> Executive MBA<br />

program launch in Phoenix, the <strong>College</strong> is poised<br />

to further expand into the Valley <strong>of</strong> the Sun with<br />

custom programs designed for busy executives.<br />

This winter, the <strong>Eller</strong> <strong>College</strong> <strong>of</strong>fers two actionoriented,<br />

engaging three-day courses. Visit<br />

www.executive.eller.arizona.edu for more details.<br />

Negotiation and Conflict <strong>Management</strong><br />

Strategies for Executives<br />

December 11-13, 2006<br />

Hyatt Regency Hotel, Phoenix, Ariz.<br />

Led by Lesk Pr<strong>of</strong>essor <strong>of</strong> <strong>Management</strong> Russell<br />

Cropanzano and Associate Pr<strong>of</strong>essor <strong>of</strong><br />

<strong>Management</strong> Barry Goldman.<br />

Financial and Accounting Decision-Making<br />

for the Non-Financial Executives<br />

February 26-28, 2007<br />

Hyatt Regency Hotel, Phoenix, Ariz.<br />

Led by Beach Fleichman Pr<strong>of</strong>essor <strong>of</strong> Accounting<br />

Mark Trombley and McCoy-Rogers Fellow and<br />

Associate Pr<strong>of</strong>essor <strong>of</strong> Accounting Leslie Eldenburg.<br />

24 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 25<br />

Photos courtesy <strong>of</strong> speakers.


GATHERINGS GATHERINGS GATHERINGS<br />

Save the<br />

DATE<br />

Photos:<br />

1&2 Dean Paul Portney (left)<br />

gathers in the <strong>Eller</strong> <strong>College</strong><br />

Homecoming tent with students,<br />

alumni, and friends.<br />

3. L-R: National Board <strong>of</strong> Advisors<br />

member Martha Taylor Thomas, <strong>Eller</strong><br />

<strong>College</strong> assistant director <strong>of</strong><br />

development Debra Rodriguez, and<br />

alumna Tammy Underwood.<br />

4. Dean Paul Portney (second from left)<br />

with <strong>Eller</strong> alumni Jon Underwood and<br />

Jim Sakrison, and Tracy Thomas.<br />

OPEN HOUSE FOR PROSPECTIVE MBAs<br />

Saturday, February 3, 8 a.m. – 11 a.m. at McClelland Hall<br />

Find out how you can accelerate your career with an <strong>Eller</strong> MBA. Learn about<br />

the MBA program that’s right for you — Evening, Executive, or Full Time<br />

— plus meet faculty and determine your next steps. Application deadline for<br />

the 24-month Evening MBA for working pr<strong>of</strong>essionals is February 15th.<br />

RSVP at www.ellermba.arizona.edu/openhouse.<br />

CAREER SHOWCASE<br />

Thursday, February 15, 8 a.m. – 5 p.m. at McClelland Hall<br />

Now in its thirteenth year, Career Showcase provides corporations,<br />

government agencies, and nonpr<strong>of</strong>it organizations with the opportunity to<br />

interact with <strong>Eller</strong> <strong>College</strong> students. Coordinated and presented by Delta<br />

Sigma Pi and <strong>Eller</strong> <strong>College</strong> Student Council, Career Showcase is a resource<br />

for students seeking internships and full-time opportunities.<br />

PROFESSIONAL ADMISSION<br />

Saturday, February 17, 7 a.m. – 2 p.m. at McClelland Hall<br />

Volunteer to interview students applying to enter the pr<strong>of</strong>essional<br />

phase <strong>of</strong> undergraduate studies. RSVP at www.eller.arizona.edu/eca/events.aspx.<br />

ENTREPRENEURSHIP WEEK<br />

February 23 - March 3<br />

Entrepreneurship Week is a national effort to engage and encourage the next<br />

generation <strong>of</strong> entrepreneurs. The <strong>Eller</strong> <strong>College</strong> and the McGuire Center for<br />

Entrepreneurship are two <strong>of</strong> the hundreds <strong>of</strong> partner organizations nationwide<br />

that are sponsoring events, activities, celebrations, and contests to ignite the<br />

nation’s consciousness about the importance <strong>of</strong> being entrepreneurial. For<br />

details about the week’s events, contact entre.net@eller.arizona.edu.<br />

THE UNIVERSITY OF ARIZONA<br />

EXECUTIVE OF THE YEAR AWARD LUNCHEON<br />

Friday, April 6, 12 p.m., JW Marriott Starr Pass Resort & Spa<br />

The <strong>University</strong> <strong>of</strong> Arizona honors John W. Rowe, chairman, president, and CEO<br />

<strong>of</strong> Exelon Corporation. Exelon is one <strong>of</strong> the nation's largest electric utilities,<br />

with 5.2 million customers and revenues <strong>of</strong> more than $15 billion. Guests<br />

may purchase individual tickets for $70 or a table <strong>of</strong> 10 for $700 and may<br />

choose to donate seats for students to attend. For more information,<br />

visit www.eller.arizona.edu/eoy.<br />

1 2<br />

3 4<br />

<strong>Eller</strong> students and alumni celebrated<br />

the Cats victory over the California<br />

Golden Bears at an electrifying<br />

game on November 11.<br />

26 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 27<br />

<strong>Eller</strong> <strong>College</strong> photos


ALUMNI NOTES & PROFILES<br />

The Drive to Succeed<br />

Anne Mariucci, BSBA Finance and Accounting ‘78<br />

General Partner, Inlign Capital Partners<br />

Ken Easley photo<br />

When she graduated from The <strong>University</strong><br />

<strong>of</strong> Arizona at 20, Anne Mariucci wasn’t sure<br />

where she would find success. She just knew<br />

that she would. With a work ethic shaped by<br />

a lifelong passion for team sports, Mariucci<br />

says she was prepared to “lay it all on the<br />

line for the team, overcome weakness, and<br />

pursue the goal with relentless drive and<br />

passion — in life, and in business.”<br />

Her career began at the Big 8 accounting<br />

firm KPMG, where she says she pulled in the<br />

“princely sum” <strong>of</strong> $13,380 per year. She studied<br />

for the CPA exam and passed on the first<br />

try, all the while working for clients such as<br />

Del Webb.<br />

In 1981, Charles Keating recruited her to<br />

join his ambitious, aggressive team at real<br />

estate firm American Continental Corporation<br />

in Phoenix, a spin-<strong>of</strong>f <strong>of</strong> his Cincinnati company,<br />

the American Financial Corporation.<br />

Mariucci left in 1984, before American<br />

Continental went down in the savings<br />

and loan crisis.<br />

By 1984, Mariucci found herself at a crossroads.<br />

In her mid-20s, she was earning a<br />

good salary and found that she knew a little<br />

about a lot <strong>of</strong> things, but not a lot about one<br />

thing. She was accepted into Stanford<br />

<strong>University</strong>’s MBA program, but then Del Webb<br />

executives came calling. “They remembered<br />

me as an outside auditor, and asked me to<br />

join them in a new strategic planning role,”<br />

she says.<br />

“I spent 20 years matriculating up through<br />

a variety <strong>of</strong> positions at Del Webb — a jack <strong>of</strong><br />

all trades, a master <strong>of</strong> none – and eventually<br />

ran the company as president.” In 2001, the<br />

company merged into Pulte Homes, and<br />

Mariucci stayed until 2003, when she decided<br />

to go into private investment.<br />

Now, she says, “For the first time, I have<br />

work/life balance. When I used to hear about<br />

work/life balance as a corporate warrior, my<br />

friends and I would laugh, because we<br />

thought you could never get to the top that<br />

ALUMNI<br />

pr<strong>of</strong>ile<br />

way.” Unfortunately, she notes, they were<br />

right. “But after I was out <strong>of</strong> the corporate<br />

world for a few months, I realized the mental<br />

and physical toll that it had taken on<br />

me,” she says. “So I recreated a life based on<br />

work/life balance, and part <strong>of</strong> that balance<br />

and life planning is understanding the passions<br />

and skills you have and finding a place<br />

where they intersect.”<br />

A three-sport collegiate athlete, Mariucci<br />

thought she might enjoy working on the<br />

business side <strong>of</strong> sports. She and venture<br />

partner Kathy Munro purchased a 25%<br />

interest in the WNBA Phoenix Mercury team<br />

— becoming the first private investors in a<br />

WNBA team. “I believe that the leadership<br />

lessons I learned in team sports took me<br />

farther than anything I learned in the classroom,”<br />

she says.<br />

In addition to leveraging her passions into<br />

her work life, Mariucci says she has always<br />

felt strongly the duty to invest time into the<br />

community. Earlier this year, after serving as<br />

a director <strong>of</strong> the Arizona State Retirement<br />

System, Mariucci was tapped by Governor<br />

Janet Napolitano for an eight-year term on<br />

the Arizona Board <strong>of</strong> Regents, the governing<br />

body <strong>of</strong> Arizona’s universities.<br />

Mariucci is still refining her priorities as a<br />

regent. “A lot <strong>of</strong> people recommended that I<br />

spend the first six months just listening and<br />

learning,” she says, but staying on the sidelines<br />

is contrary to her nature, and she says<br />

that she has taken an active role.<br />

Mariucci also finds time to give back to<br />

the community through her involvement<br />

with nonpr<strong>of</strong>it health and social service<br />

organizations including Scottsdale Health<br />

Care and Fresh Start Women’s Foundation.<br />

On the life side <strong>of</strong> the balance equation,<br />

Mariucci says she is grateful to the people<br />

she has encountered along the way, from<br />

her primary personal relationship to her<br />

colleagues. “You never get there alone in a<br />

successful life.”<br />

Update your contact information and tell us what’s new: www.eller.arizona.edu/alumni/updates<br />

28 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 29<br />

1970s<br />

Fred Ball ’75 BSPA Law Enforcement Fred is a<br />

retired special agent for the U.S. Department <strong>of</strong><br />

Justice Federal Drug Enforcement. During his 22<br />

years with the agency, he served in nine <strong>of</strong>fices,<br />

including Washington, D.C. and in London, England,<br />

as the assistant attaché for narcotics at the U.S.<br />

Embassy. At the time <strong>of</strong> his retirement in 1996, Fred<br />

was special agent in charge <strong>of</strong> Alabama, managing<br />

the Mobile, Montgomery, and Birmingham <strong>of</strong>fices.<br />

He has been married to Sharen Jean (Goodman) Ball,<br />

class <strong>of</strong> ’74, for 38 years. They currently live in<br />

McAllen, Texas. f.c.ball@att.net<br />

David Ifflander ’77 BSPA Law Enforcement<br />

David is a consultant for Champion Events Group,<br />

a Tucson-based fundraising entity for Christian<br />

schools. ifflander@juno.com<br />

1980s<br />

Jim Bret-Harte ’88 MBA Jim has 15+ years <strong>of</strong><br />

international experience in the highly competitive<br />

Latin America beverage market in his position <strong>of</strong><br />

franchise director for PepsiCo. He is responsible for<br />

the overall direction and operating results across<br />

multiple franchises in Central America (where he is<br />

based). jbretharte@yahoo.com<br />

Stacy Robson ’89 BSBA Finance, ’95 MBA Stacy is<br />

director <strong>of</strong> financial planning with the nonpr<strong>of</strong>it<br />

Grand Lodge <strong>of</strong> California in San Francisco.<br />

1990s<br />

Gil Salazar ’92 BSBA <strong>Management</strong> Information<br />

Systems As support systems analyst principle for<br />

The <strong>University</strong> <strong>of</strong> Arizona Network <strong>Management</strong>, Gil<br />

manages servers for the <strong>College</strong> <strong>of</strong> Agriculture and<br />

Life Sciences. He is involved in the UA's Information<br />

Security Awareness campaign and security policy<br />

team. He enjoys photography, hiking, sports, and<br />

hanging out with his wife and family.<br />

zonacat3@gmail.com<br />

Mike Corak ’96 BSBA Finance and Accounting<br />

Mike is a strategic planner for digital marketing<br />

agency iCrossing Inc. in Scottsdale, Ariz.<br />

News FROM ALUMNI<br />

Peter Messana ’97 BSBA Finance and<br />

Entrepreneurship After nine years <strong>of</strong> dreaming<br />

and working in the corporate world, Peter<br />

realized his dream and purchased an existing<br />

business, Austin Canoe & Kayak<br />

(www.austinkayak.com). He says he is living his<br />

dream <strong>of</strong> working for himself and owning his<br />

own business. peter@austinkayak.com<br />

Bob Socolich ’97 MBA Bob is with Intel<br />

Corporation in Oregon.<br />

Nathan Handelsman ’98 BSBA Marketing and<br />

Entrepreneurship Nathan is memory sales and<br />

operations manager for Nvidia in San Jose, Calif.<br />

He earned his Technology MBA from <strong>University</strong><br />

<strong>of</strong> Pennsylvania in 2002.<br />

nhand112003@yahoo.com<br />

2000s<br />

Jeff Shookus ’00 BSBA Finance and<br />

Economics, ’05 MBA Jeff is an investment<br />

research associate with Leavitt Capital<br />

<strong>Management</strong> in Chicago. jshooky41@yahoo.com<br />

Jania Arnoldi ’02 BSBA Accounting Jania has<br />

been CFO <strong>of</strong> Marana Health Center for over six<br />

years, and has contributed to the company’s<br />

success through assisting the CEO in implementing<br />

new growth strategies, increasing the<br />

budget from $2 million to $13 million, and<br />

growing the number <strong>of</strong> employees from 27 to<br />

177. The ompany is now expanding operations<br />

into Tucson and Catalina, Ariz., and plans to<br />

break ground on a new health center next year.<br />

jania_arnoldi@yahoo.cm<br />

Justin Cranmer ’02 BSBA Business<br />

<strong>Management</strong> and Operations <strong>Management</strong><br />

Justin is now a supply chain specialist with<br />

Raytheon Missile Systems Defense<br />

Manufacturing in Tucson, Ariz.<br />

justin_cranmer@hotmail.com<br />

Anna Haskvitz ’02 MBA and MS in<br />

<strong>Management</strong> Information Systems Anna is<br />

senior project manager at Interface Guru in<br />

Tucson, Ariz.<br />

Brandon Kelly ’02 BSBA Marketing<br />

Brandon is an associate <strong>of</strong> Alix Field Realty in<br />

Scottsdale, Ariz., and is primarily focused on<br />

commercial land development and residential<br />

properties. bpkelly7@cox.net<br />

Erica Pontes ’02 BSBA <strong>Management</strong><br />

Information Systems Erica is with Intuit in<br />

Tucson, Ariz. e_pontes@intuit.com<br />

Rodrigo Romo ’02 MBA<br />

Rodrigo is vice president <strong>of</strong> engineering for<br />

electronic water treatment company Zeta<br />

Corporation in Tucson, Ariz.<br />

rcromo@earthlink.net<br />

Mini Walia ’02 BSBA <strong>Management</strong> and<br />

Marketing Mini is a unit manager for PM USA in<br />

Pasadena, Calif.<br />

David Lundell ’03 MBA David is the principle<br />

consultant and trainer at Chandler, Ariz.-based<br />

Mutually Beneficial Inc., which specializes in SQL<br />

Server and Windows Server. He is the author <strong>of</strong> a<br />

text on Windows Server, and enjoys playing with<br />

his three kids in the new playset he assembled<br />

for them. david_lundell@hotmail.com<br />

Steven Mokhtarian ’03 BSBA Finance Steven is<br />

living in Chicago and working for SD&S<br />

Properties Inc., a relatively small real estate company,<br />

where he is helping to boost revenue and<br />

gain market share. supermok@aol.com<br />

Travis Morrow ’03 BSBA Finance Travis is vice<br />

president <strong>of</strong> National Self Storage <strong>Management</strong><br />

Inc. in Tucson, Ariz. where he oversees all aspects<br />

<strong>of</strong> the company, from management and operations<br />

to development and acquisitions.<br />

Eric Desai ’04 BSBA Accounting and Finance<br />

Eric is with PricewaterhouseCoopers in Chicago.<br />

Phillip Frankel ’04 BSBA Marketing and<br />

Business <strong>Management</strong> Philip is an account<br />

executive for A. Eic<strong>of</strong>f & Company Advertising<br />

Agency in Chicago, a direct response television<br />

advertising agency. phillipfrankel@yahoo.com<br />

Jeff Hohl ’04 BSBA Marketing Jeff is currently<br />

a project manager with R&R Partners Advertising<br />

in Scottsdale, Ariz. jlhohl@msn.com<br />

Emily (Dabner) Rutter ’04 BSBA Marketing<br />

Emily is currently pursuing her MBA at the<br />

<strong>University</strong> <strong>of</strong> Maryland, and plans to graduate in<br />

2008. She is married to Clint Rutter (MIS '02).<br />

emdabner@yahoo.com<br />

Brian Tippett ’04 MBA Brian is in land acquisition<br />

with Richmond American Homes in Denver.<br />

bctippett@hotmail.com<br />

Haamed Alfulaij ’05 BSBA <strong>Management</strong><br />

Information Systems Haamed is currently<br />

working as a systems analyst at Deloitte<br />

Consulting LLP in Atlanta, and says that consulting<br />

provides the opportunity to experience<br />

working with various industries in a relatively<br />

short amount <strong>of</strong> time.<br />

Roopa Batni ’05 BSBA Marketing Roopa is<br />

customer service manager for GAP Inc. in<br />

Orange County, Calif.<br />

Matt Bisson ’05 BSBA Business Economics<br />

Matt is the supplier management finance operations<br />

analyst for Boeing Integrated Defense<br />

Systems in Seattle. mattbisson@gmail.com<br />

Jaclyn Darvas ’05 BSBA Marketing<br />

jacny330@gmail.com<br />

Patrick Freeman ’05 BSBA Finance & Business<br />

<strong>Management</strong> Patrick is a consultant with Ernst<br />

& Young in Phoenix. freeman_patrick@hotmail.com<br />

Navin Kanneganti ’05 BSBA Accounting<br />

Navin is currently pursuing an MS in Accounting<br />

at Southern Methodist <strong>University</strong> in Dallas, and<br />

plans to apply to law school after graduation.<br />

navinck@hotmail.com<br />

Niranjan Kesani ’05 MS in <strong>Management</strong><br />

Information Systems Niranjan is an associate<br />

s<strong>of</strong>tware engineer with Business Objects in La<br />

Crosse, Wis. k_niranjan@yahoo.com<br />

John Seedall ’05 BSBA Finance John is a<br />

financial advisor for Merrill Lynch in Phoenix.<br />

Susan Stokes ’05 BSBA Marketing Susan is<br />

special markets coordinator for Golden Eagle<br />

Distributors in Tucson, Ariz..<br />

susan.stokes@gmail.com<br />

E L L E R C O L L E G E O F M A N A G E M E N T


ALUMNI NOTES & PROFILES<br />

Innovation at the Intersection<br />

<strong>of</strong> Science and Business<br />

Ralph R. Martel, MBA ‘98<br />

Vice President <strong>of</strong> Research and Development,<br />

High Throughput Genomics, Inc.<br />

Ralph R. Martel<br />

Ralph R. Martel photo<br />

ALUMNI<br />

pr<strong>of</strong>ile<br />

After earning his Ph.D. in biochemistry from The <strong>University</strong> <strong>of</strong> Arizona in 1991, Ralph<br />

Martel decided not to pursue academia, instead beginning a career in industry. After several<br />

years <strong>of</strong> working in scientific research and development, he chose to return to the UA to<br />

earn an MBA.<br />

“I thought that if I planned to spend my life in business, I should learn something about<br />

it,” he says, “and I had questions that could not be answered by the scientific side.”<br />

Specifically, as he worked to develop products, he noticed that not all <strong>of</strong> them succeeded<br />

once they were brought to market. “Some sold well, and some not at all,” Martel says, “and I<br />

had put the same amount <strong>of</strong> blood, sweat, and tears into each one <strong>of</strong> them, regardless.<br />

Obviously, I wanted to choose successful projects to work on.”<br />

“I don’t know where the next great invention is going to come from,” he continues. “But<br />

the process <strong>of</strong> turning the next great invention into a successful product – that is something<br />

you can learn.”<br />

Now, Martel says, “it really helps to have a technical and business background. First <strong>of</strong> all,<br />

if you don’t bring a varied background to the table, you’re only going to understand part <strong>of</strong><br />

the conversation, and then you won’t be able to make informed decisions.”<br />

Martel’s dual scientific/business background has served him well through three start-up<br />

ventures to date. When he began at Ventana Medical Systems, the company had 30 employees;<br />

now it has over 800. While at Ventana, Martel developed detection reagents used to<br />

stain cancer biopsies – for which he received a patent.<br />

He is currently vice president <strong>of</strong> research and development for the Tucson-based firm<br />

High Throughput Genomics (HTG). The company developed and now markets ArrayPlate<br />

technology, which allows scientists to simultaneously test multiple genes – dramatically<br />

decreasing research time.<br />

“The ArrayPlate provides 16 measurements per sample for the work <strong>of</strong> one,” says Martel.<br />

“This greatly increases the productivity <strong>of</strong> HTG's client scientists, but more importantly,<br />

it allows clients to develop drugs for presently poorly treatable or untreatable diseases –<br />

schizophrenia, osteoporosis, various cancers, and many more – that have complex<br />

underlying causes.”<br />

As a veteran <strong>of</strong> the technology transfer process and new ventures, Martell appreciates the<br />

excitement <strong>of</strong> the early days <strong>of</strong> development and growth, especially when the objective the<br />

company is working toward is something the staff can feel good about.<br />

“I take great pride in how a team <strong>of</strong> scientists at a scrappy startup like HTG has turned an<br />

idea into a product that is proving useful to many <strong>of</strong> the world's leading pharmaceutical<br />

companies in their quest for new drugs,” he says.<br />

Finding Freedom<br />

Avery Moon, BSBA Economics, BS Applied and<br />

Industrial Mathematics, and Entrepreneurship ‘98<br />

Senior Vice President <strong>of</strong> Product and Chief Technology<br />

Officer, Infotone<br />

While many boys ticked <strong>of</strong>f a list <strong>of</strong><br />

career goals including astronaut, firefighter,<br />

and cowboy, Infotone founder<br />

Avery Moon says when he was 10 years<br />

old, “I planned to be an entrepreneur. But<br />

when you are young, you think things<br />

are easier than they turn out to be.”<br />

Moon was raised in Tucson in a family<br />

that valued entrepreneurship; the small<br />

business owners he grew up around left<br />

an impression that informs his approach<br />

to management today.<br />

“But a small business in Tucson is different<br />

than a venture-backed company in<br />

Redwood City, California,” Moon says.<br />

His journey to that venture-backed<br />

company — Infotone — started in college.<br />

Majoring in applied and industrial mathematics<br />

and economics at The <strong>University</strong><br />

<strong>of</strong> Arizona, Moon found time between<br />

classes to perfect the technology that<br />

would form the basis <strong>of</strong> his company.<br />

He entered the entrepreneurship program<br />

at the <strong>Eller</strong> <strong>College</strong> and used that<br />

technology for his business plan. “By<br />

January we had incorporated, by<br />

February we had venture funding in<br />

place,” he says, “and by March or April I<br />

was peripherally going to school, flying<br />

back and forth to Silicon Valley.”<br />

The brisk pace was justified: it turned<br />

out that Moon had solved the “holy<br />

grail” problem <strong>of</strong> the IT world. Infotone<br />

produces couplers, which allow the disparate<br />

databases that corporations maintain<br />

to communicate and share information.<br />

For example, couplers make it possible<br />

for the widget inventory s<strong>of</strong>tware to<br />

communicate with the widget-producing<br />

robot on the factory floor, eliminating the<br />

need for middleware, or having staff<br />

manually pull, convert, and dump information<br />

from one database into another.<br />

“It’s such a huge problem that when<br />

you talk to corporate technology experts,<br />

they give you a really low probability for<br />

success,” says Moon. “And like any entrepreneur,<br />

when they tell me it can’t be<br />

done, it just makes me work harder.”<br />

The pace <strong>of</strong> that hard work has not<br />

really slowed down for Moon, who admits<br />

to being an obsessive-compulsive workaholic,<br />

and attributes his success to that<br />

quality. It’s a common attribute in successful<br />

entrepreneurs, and recognizing<br />

that quality in Moon may have influenced<br />

Sierra Ventures to back Infotone.<br />

The men Moon connected with from<br />

Sierra Ventures were not just financiers,<br />

they were both founders, and one had<br />

invested in the other’s startup — making<br />

Infotone a second generation <strong>of</strong> venturebacked<br />

enterprise. Moon notes that it has<br />

been rewarding to have the men share<br />

how they went through the process <strong>of</strong><br />

starting a venture, finding success, then<br />

giving back and starting the circle anew<br />

with the next generation.<br />

The notion <strong>of</strong> giving back has played<br />

out in Moon’s life in many ways, as he<br />

absorbed the importance <strong>of</strong> education<br />

from his parents — his mother a teacher,<br />

and his father a pr<strong>of</strong>essor at The<br />

<strong>University</strong> <strong>of</strong> Arizona — and from his wife,<br />

a teacher in one <strong>of</strong> the most challenged<br />

urban schools in the Bay area. He continues<br />

to stay connected to the <strong>Eller</strong> <strong>College</strong>,<br />

making internship opportunities available<br />

ALUMNI<br />

pr<strong>of</strong>ile<br />

to MBAs and undergraduates, and also<br />

makes it a priority to support Infotone<br />

staff success with the same kind <strong>of</strong><br />

ethics learned from family-owned<br />

small businesses.<br />

“A lot <strong>of</strong> people find it weird and<br />

refreshing to see that attitude in a startup,”<br />

he says, noting that many startups<br />

operate in dysfunctional, overly political,<br />

and abrasive work environments. “It’s fun<br />

to create products,” he says, but it’s more<br />

important and rewarding to foster pr<strong>of</strong>essional<br />

growth in people.<br />

To Moon, the tangible benefits <strong>of</strong> success<br />

— wealth or property — are not as<br />

important as the freedom that success<br />

creates, noting that to one <strong>of</strong> his colleagues,<br />

freedom became an opportunity<br />

to move to Montana and rope cattle on<br />

his ranch.<br />

“As the company becomes more successful,<br />

it’s rewarding to watch people<br />

realize their own version <strong>of</strong> freedom,”<br />

he says.<br />

30 ELLER <strong>PROGRESS</strong> THE UNIVERSITY OF ARIZONA<br />

WWW.ELLER.ARIZONA.EDU<br />

FALL 2006 31<br />

Avery Moon<br />

Avery Moon photo


The Carlyle Group photo<br />

LAST WORD ON Innovation<br />

William E. Conway, Jr.,<br />

founding partner and<br />

managing director <strong>of</strong><br />

The Carlyle Group<br />

William E. Conway, Jr. delivered<br />

the keynote address at the <strong>Eller</strong><br />

<strong>College</strong> <strong>of</strong> <strong>Management</strong>’s May<br />

2006 graduate convocation. He<br />

serves as founder and manager<br />

<strong>of</strong> The Carlyle Group, a global<br />

private equity firm that manages<br />

$40 billion for investors. The<br />

company has reported pr<strong>of</strong>its <strong>of</strong><br />

over a billion dollars for each <strong>of</strong><br />

the past three years, and has<br />

earned a return <strong>of</strong> about 25%<br />

per year for investors for almost<br />

20 years.<br />

32 ELLER <strong>PROGRESS</strong><br />

<strong>PROGRESS</strong>: How have you adapted to change in your career?<br />

WEC: After I graduated from public high school, I was lucky to get into Dartmouth<br />

<strong>College</strong>. Upon graduation, I secured a job at First National Bank – Chicago, the fifth<br />

largest bank in America at the time. While working at First Chicago, I got my MBA in<br />

finance at night from the <strong>University</strong> <strong>of</strong> Chicago. I stayed at First Chicago, but that bank<br />

does not even exist today. Talk about change! It was merged into NBD, then Bank One,<br />

and now Chase. After 10 years at First Chicago, I went to work for MCI Communications<br />

as the treasurer and eventually CFO. When I got my MBA, the competitive long distance<br />

business did not exist, but MCI became a highly successful billion-dollar company.<br />

Today, following the MCI merger with Worldcom, and the Worldcom accounting scandal,<br />

MCI is gone. Fortunately for me, MCI was doing great when I left in 1987 to start<br />

my own private equity company, The Carlyle Group.<br />

<strong>PROGRESS</strong>: How has the finance industry changed since you founded<br />

The Carlyle Group?<br />

WEC: We started with $2 million from four investors — and two <strong>of</strong> those four are no<br />

longer in business. Somehow, from that $2 million, in one <strong>of</strong>fice in Washington, D.C.,<br />

with five people, we have become a global private equity firm with about $40 billion<br />

that we manage for our investors and ourselves. When I received my MBA, no one had<br />

conceived <strong>of</strong> private equity business. These changes from my business life — companies<br />

being acquired, going bankrupt, whole industries being built and destroyed, new technologies<br />

— are not extraordinary. These changes are natural and even commonplace.<br />

Unanticipated, to be sure, yet almost inevitable. But the growth and performance <strong>of</strong><br />

companies like Carlyle is not sustainable. No one earns 25%-plus rates <strong>of</strong> return forever.<br />

I already see developments in our business that make me certain that if we do not<br />

change, our returns for our investors will fall dramatically. I hope that we will be ready.<br />

<strong>PROGRESS</strong>: What advice do you have for tomorrow’s business leaders?<br />

WEC: Three things. First, think about what is important and work on that. Too many<br />

people do the irrelevant perfectly. Second, when working with others in business or otherwise,<br />

try to understand what people can do, not what they cannot. And the same<br />

thing applies to yourself. Most <strong>of</strong> my failures in management were in putting people in<br />

jobs they could not do — they didn’t fail, I did. Third, be ethical in your choices. I used to<br />

worry about the things I did; now I worry about what I did not do. It is a hard thing to<br />

stand up when everyone else is sitting and watching. Robert Frost, in his famous poem,<br />

talks about “the road not taken.” Yogi Berra said, “When you come to a fork in the road,<br />

take it.” People tend to see their choices as life-changing, whereas in reality, for most<br />

people and most decisions — exceptions might be a crime, an addiction, or marriage —<br />

every day you get to make another set <strong>of</strong> decisions. Some good, some bad, some lucky,<br />

and some unlucky. They are up to you. You must understand that you can and will make<br />

a difference, make a change.<br />

I N N O V A T I O N<br />

THE UNIVERSITY OF ARIZONA<br />

UA Biomedical Communications photo<br />

David Reiley, Economics<br />

David Reiley has been<br />

promoted to pr<strong>of</strong>essor <strong>of</strong><br />

economics. His areas <strong>of</strong><br />

research interest include<br />

economic mechanisms,<br />

particularly online auctions<br />

and charitable fundraising<br />

campaigns, as well as<br />

economic experiments on<br />

the Internet and electronic<br />

commerce.<br />

F A C U L T Y N E W S<br />

Congratulations<br />

to the faculty members who received<br />

promotions for the 2006-07 academic year.<br />

Jerel Slaughter,<br />

<strong>Management</strong> and<br />

Organizations<br />

Jerel Slaughter has been promoted<br />

to associate pr<strong>of</strong>essor<br />

<strong>of</strong> management and organizations.<br />

His areas <strong>of</strong> expertise<br />

include recruitment and<br />

applicant attraction, reactions<br />

to affirmative action, and<br />

employer, job seeker, and<br />

managerial decision making.<br />

Jun Peng, School <strong>of</strong> Public<br />

Administration and Policy<br />

Jun Peng has been promoted<br />

to associate pr<strong>of</strong>essor <strong>of</strong><br />

public administration and<br />

policy. Peng is currently<br />

researching public pensions.<br />

His other areas <strong>of</strong> interest<br />

include public and nonpr<strong>of</strong>it<br />

financial management and<br />

investment banking.<br />

The <strong>University</strong> <strong>of</strong> Arizona Honors<br />

Suzanne Cummins for Creative Teaching<br />

Suzanne Cummins, senior lecturer and Faculty Fellow in the Department <strong>of</strong><br />

<strong>Management</strong> and Organizations, was honored this past spring with The<br />

<strong>University</strong> <strong>of</strong> Arizona Foundation Leicester & Kathryn Sherrill Creative Teaching<br />

Award. This university-wide honor distinguishes one individual each year in recognition<br />

<strong>of</strong> outstanding innovation and creativity in teaching.<br />

Head <strong>of</strong> the Department <strong>of</strong> <strong>Management</strong> and Organizations Stephen Gilliland<br />

nominated Cummins as "one <strong>of</strong> our most gifted, dedicated, and innovative teachers."<br />

He detailed how Cummins goes far beyond pr<strong>of</strong>essional obligations in order<br />

to bring resources to the <strong>College</strong> and improve student writing skills. "She is truly a<br />

faculty member who puts students and their learning experience first," Gilliland<br />

wrote in his nomination.


<strong>Eller</strong><br />

P R O G R E S S<br />

<strong>Eller</strong> graduates Stephen<br />

Goldstein (left) and<br />

Eric Witt (right) are in<br />

the process <strong>of</strong> launching<br />

their business plan for<br />

REAL Food Restaurants<br />

with executive chef<br />

Greg Smith (center).<br />

See story on page 19.<br />

PO Box 210108<br />

Tucson, Arizona 85721-0108<br />

Change Service Requested<br />

WWW.eller.arizona.edu • Email us at progress@eller.arizona.edu<br />

NONPROFIT ORG.<br />

U.S. POSTAGE<br />

PAID<br />

TUCSON, ARIZONA<br />

PERMIT NO. 190

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