Business Leaders Magazine 2009

WALKER COLLEGE OF

Business Leaders

MAGAZINE 2009

A publication of the Walker College of Business at Appalachian State University www.business.appstate.edu

THE WALKER COLLEGE DEAN’S CLUB Your Opportunity to Send Support Back Home.

The Walker College Dean’s Club.

Your opportunity to support the school that helped you get where you are.

The Dean’s Club is an annual giving society that benefit the students, faculty and programs in the Walker College of Business at Appalachian State University. By joining the Dean’s Club, you are providing invaluable, unrestricted support each year for critical needs in the college. Membership requires an annual gift of $1000.

Dean’s Club members receive: •

Invitations to the Harlan E. Boyles Distinguished CEO Executive Luncheon, which provides opportunity for interaction with the state’s business community and our students.

•

An invitation for indoor seating at an ASU football game.

•

Credit toward membership in Appalachian’s Chancellor’s Society, which offers free parking on campus.

•

An invitation to various college alumni and friends receptions and chancellor events.

•

Recognition as a Dean’s Club member in publications.

•

A gift of Walker pride and token of our appreciation for each consecutive year of membership, to display in your home or office recognizing your giving level.

To join the Walker College Dean’s Club, contact Rod Hudspeth at (828) 262-6231 or go to: business.appstate.edu/give/deansclub.php

Walker College of Business Leaders Magazine Leaders Magazine is published annually by the Dean’s Office for alumni, faculty, staff and friends of the college.

Contents

Administration Randy Edwards, Dean Heather Norris, Associate Dean for Undergraduate Programs and Administration Jospeh Cazier, Assistant Dean for Graduate Programs and Research Marty Meznar, Assistant Dean for International Programs and Assessment

Editor Haley Childers Contributing Writers Kati Knowland Jane Nicholson Rob Robertson Contributing Photographers Marie Freeman Mike Rominger Troy Tuttle On the Cover The 2009 Class of the Martha Guy Summer Institute for Future Business Leaders with Miss Martha Guy (center, in red) and members of the Appalachian State University administration.

Appalachian State University is committed to equality of educational opportunity and does not discriminate against applicants, students or employees on the basis of race, color, national origin, religion, sex, age, disabling condition or sexual orientation. Appalachian also actively promotes diversity among students and employees.

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5

Development Officers Rob Hudspeth Gerry Smith

02 03 04 12 15 18 19

IN EVERY ISSUE A Message from the Dean College Events Student Spot Focus on Faculty Around Raley Alumni and Friends How to Make a Difference

FEATURES

08 Be the Change You Wish to See in the World 16 Martha Guy Summer Institute Celebrated Walker College of Business Appalachian State University Box 32037 Boone, NC 28608-2037 www.business.appstate.edu Comments, suggestions or questions: wcob@appstate.edu 828-262-2057

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A MESSAGE FROM THE DEAN Welcome to our most recent

fall afternoons. We’ll hold our College of Business Game

issue of Business Leaders

Day and Tailgate on Wey Hill (across Rivers Street from

Magazine. As you read through

Raley Hall) on October 24. We hope you’ll make plans to re-

this publication, I hope you share

turn to campus for that game and for the homecoming game

our pride in the Walker students

tailgate on Duck Pond Field on October 10.

who have excelled in regional

and national competitions, who

of times” in the Walker College. The “best of times” is

have become entrepreneurs and

that we certainly do have outstanding students and faculty

environmentalists, and who have

members. The “worst of times” is that, as are many of you,

traveled abroad seeking to make

we also are experiencing the effects of the unstable economy.

In many ways, it is the “best of times and the worst

a global impact.

We do not expect to receive our state-appropriated budget for

the fiscal year that began on July 1 until October. In the past

Our faculty members are on the cutting edge of

business research. In this edition you’ll read how the United

five months, we have been under two state budget “freezes”

States may be moving toward adopting new accounting

that severely restricted any spending. Also, most of our en-

reporting standards, learn about the dangers of disposing

dowed scholarships and other endowments have not generat-

computers and find out startling statistics on child labor.

ed any payout for the current academic year. This means that

the total amount awarded for scholarships for the current year

We’re pleased that the Princeton Review again

named the Walker College as one of its best business schools

will be significantly lower than last year. It also means that

and that Appalachian rose again in the US News & World

we will not be able to provide some of the other opportunities

Report’s 2009 American’s Best Colleges Guide.

to our students that we have been able to offer in the past.

There is a lot going on around our campus this fall.

One way to meet the financial challenges is through

The tradition of great Harlan Boyles Distinguished Lecture

our annual fund – the Walker College Deans Club. I invite

Series speakers continues as the CEO of BB&T, Kelly King,

you to join and make a difference in the lives of our outstand-

comes to campus on October 5. The Global Opportunities

ing students. Funding from the Deans Club is used in areas

Conference is in its second year and on October 9 will focus

of greatest need such as scholarships and other support for

on: “Creating Your Own Global Future: Exploring New

students and faculty. For more information about joining the

Frontiers When Times are Tough”. On October 20, a new

Deans Club, see the inside cover of this magazine. You may

event, the Family Business Forum, will feature the Presidents

also contact Director of Development Rob Hudspeth (hud-

of successful, family-owned businesses as speakers, includ-

spethrc@appstate.edu), Advancement Specialist Gerry Smith

ing those from Biltmore, Cheap Joe’s Art Stuff, Grandfa-

(smithgd@appstate.edu), or me (edwardsrk@appstate.edu).

ther Mountain and Tweetsie Railroad. We’re delighted that

Matthew Szulik, Chairman of the Board of Red Hat, Inc.

Thank you,

Please be an active part of the Walker College team.

and 2008 Ernst & Young National Entrepreneur of the Year th

will be speaking during the 8 annual Carole Moore McLeod Entrepreneur Summit on November 6.

Randy Edwards, ’77, ‘78

Dean

The upcoming football season promises enjoyable

The Walker College is accredited by AACSB International – The Association to Advance Collegiate Schools of Business.

AACSB accreditation represents the highest standard of achievement for business schools worldwide. Less than one-third of U.S. business school programs and only 10% of business school programs worldwide meet these rigorous standards.

The Walker College is one of 555 accredited member institutions and has been accredited since 1976.

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Appalachian State University

WALKER COLLEGE OF BUSINESS ADVISORY COUNCIL MEMBERS Mark E. Trivette ‘83, Chair Partner, Transaction Advisory Srv, Ernst & Young LLP Richard G. Sparks ’76, ’78 Vice Chair President & CEO, Appalachian Regional Healthcare System J. Cantey Alexander III ’86 President - Triad Region, BB&T Corporation Roger L. Beahm CEO & Chairman, Beahm & Associates, LLC W. Winfield Beroth ’65 President, Beroth Oil/4 Brothers Stores Ryan Bolick ‘01 Partner, 33 West Consulting, LLC H. Edward Boyles, Jr. Managing Director, Wells Fargo Securities Marshall A. Croom ’86 Senior VP – Merchandising and Store Support, Lowe’s Companies, Inc. Robert G. Darst Retired, Burlington Industries, Inc. Robin H. Gagnon ’82, ’95 Partner, We Sell Restaurants

COLLEGE EVENTS October 03

The 7th Annual Finance & Banking Career Day will be held in Raley Hall.

05

The Harlan E. Boyles Distinguished CEO Lecture and Reception brings Mr. Kelly King, President and CEO of BB&T Corporation, to campus as the featured lecturer.

09

The High Country Global Opportunities Conference will be held at the Broyhill Inn and Conference Center.

10

The College of Business Homecoming Reception will give Walker Col lege alumni and friends an opportunity to tailgate at the Duck Pond Field before the Mountaineers take the field.

21

This fall’s Insurance Career Fair will begin on Oct. 21 and continue through Oct. 22.

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The Scholarship Reception will provide a forum for student recipients to meet their scholarship donors at the Broyhill Inn.

24

The College of Business Football Game Day Reception will give Walker College alumni and friends an opportunity to tailgate at Farthing Hill before the Mountaineers take the field.

31

The Accounting Alumni CPE Conference will be held at the Broyhill Inn and Conference Center.

James E. Harris ‘84 CFO, Coca-Cola Bottling Co. William R. Holland Chairman, EnPro Industries, Inc. Helen Hollifield ‘87 Tax Partner, Deloitte & Touche Thomas H. Hudspeth, Jr. ‘82, ‘83, Partner, PricewaterhouseCoopers Doug Johnson ‘77 CEO, Blue Ridge Electric Membership Corp.

Scott Lampe ’94 CFO, Hendrick Motorsports Lynn Minges Executive Director, Tourism, Film and Sports Development, NC Department of Commerce Charles V. Murray ’87 President, Murray Supply Company Phillip Ostwalt ‘83 Partner, KPMG, LLP Kenneth G. Reece ‘73 Sr. VP - Private Banking, First Tennessee Bank John Roos, ‘84 Chief Sales and Marketing Officer, BCBS of North Carolina John E. Silvia Chief Economist, Wells Fargo Securities Allan Singer Manager, McNair Law Firm, PA Frank H. Skidmore, Jr. Retired Managing Principal, IBM Global Services Gerry Smith ’70 Retired First VP Investments, Smith Barney Carmen Thorpe Director, Automotive Aerospace & Defense, IBM Global Services Members Emeriti William S. Creekmuir William G. Ervin Joseph F. Freeman, Jr. Jeffrey A. Shepard Mike Steinback G.A. Sywassink ’94

Walker College of Business

November 6

The 8th Annual Carole Moore McLeod Entrepreneur Summit will host more than forty entrepreneurs on campus and will feature a keynote address by Matthew Szulik, Chairman of Red Hat, and the 2008 Ernst & Young Entrepreneur of the Year. Twenty students will be selected to pitch their ideas to a panel of entrepreneur judges in the “Pitch Your Business Idea in 90 Seconds” contest.

December 13

Appalachian State University Commencement

February 2010 09

11th Annual Lewis L. Mack Alumni Day

March 2010 25

The Harlan E. Boyles Distinguished CEO Lecture and Reception for spring 2009 will feature Clark Kinlin, CEO of Corning Cable Systems

26

The College of Business Honors Convocation Ceremony will be held at the Broyhill Inn and Conference Center. Students with the highest GPA and outstanding students participating in student organizations will be recognized.

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The Beta Gamma Sigma Induction Ceremony, also held at the Broyhill and on the same day as the Honors Convocation, recognizes the top ten percent of students.

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RMI STUDENTS PARTICIPATE IN LEGISLATIVE CONFERENCE

Student Spot

Four Risk Management and Insur-

A New Crop of MBA Students Dr. Joseph Cazier (center) stands among some of the 64 students enrolled this year with the MBA program within Walker College. Most of the students, 42, will attend classes full time on the Appalachian State campus; 4 will attend part-time, and 18 are in the

ance (RMI) students participated in the

off-campus program in Hickory. The program started in July. The priority of the 32-hour

Independent Insurance Agents & Brokers

MBA program is to “offer a high-quality MBA Program designed to assist students develop

of America annual National Legislative

professional skills that are valued in today’s business world.” Contact Dr. Cazier,

Conference and Convention in Wash-

cazierja@appstate.edu, if you have any questions or interest in the program. ■

ington, D.C. April 29-May 1, 2009. The conference focused on important insurance and national issues confronting lawmakers, agents and brokers and is the insurance industry’s best-attended, most effective legislative event of its kind.

Students heard insights from some of the top insurance company CEOs, including the state of our national economy, the economic challenges facing insurance carriers and the industry, the propertycasualty insurance cycle, the TARP program, insurance regulatory reform, and other challenges and opportunities facing the independent agency system.

During the trip, the students met with Senators Richard Burr and Kay Hagan, as well as Representatives Virginia Foxx and

Members of the 2009 Holland Fellows Class from Appalachian and Fudan Universities are pictured atop Grandfather Mountain in the Spring of 2009. The William R. Holland Fellows Program for Business Study in Asia is in its 13th year.

Sue Myrick and discussed pertinent issues facing the insurance industry and consumers. The group also took a “behind the scenes” tour of the Capitol building. ■

Insurance students met with Senator Richard Burr to discuss pertinent issues facing the insurance industry and consumers.

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Appalachian State University

Bike Crafted Plastic Bottles Wins National Entrepreneurial Contest When Ryan Klinger, Andrew Drake,

Spencer Price and Justin Henry created a working bicycle from plastic drink bottles, they didn’t know their creation would take them to California. The Appalachian State University industrial design majors won the first national Juicy Ideas Entrepreneurial/ Environmental Contest, a competition in which college students from across the United States created something of value from an item that is typically thrown away as trash.

The students learned of their status as national award-winners from Mary Radomile, Google program manager, who notified them via Web conference held on campus. Joining in the surprise celebration were Appalachian’s Chancellor Kenneth E. Peacock, representatives of competition sponsors AdvantageWest and DigitalChalk, and a cheering squad of friends, classmates, faculty and others.

Appalachian’s Center for Entrepreneur-

A team of students from Appalachian State University comprised of Justin Henry, left, Spencer Price, Ryan Klinger and Andrew Drake won the national Juicy Ideas Entrepreneurial/Environmental Contest for a bicycle they created from plastic drink bottles. They are pictured with Chancellor Kenneth E. Peacock.

to the national competition. The team from

ship worked with AdvantageWest to orga-

Appalachian was the regional winner in

nize the regional competition. Additional

Western North Carolina.

sponsors were American Green and Jute.

The competition was organized as a

A panel of judges evaluated the entries in terms of originality, creativity, entrepre-

way to encourage entrepreneurship and

neurship, innovation and environmental

communicate a message of environmental

responsibility. According to Dale Carroll,

responsibility.

president and CEO of AdvantageWest,

“This competition illustrates the col-

entrepreneurship continues to play a major

laborative relationship between our faculty,

role in the global economy and is increas-

staff and students in the areas of sustainabil-

ingly important to the long-term health and

ity, design and entrepreneurship,” said Ken-

growth of rural regions across America.

neth E. Peacock, chancellor at Appalachian.

“As the economic development com-

“These students, with their creativity and

mission for the 23 counties of Western

team work, are a reflection of the future of

North Carolina, AdvantageWest continu-

our nation. They are thinking globally and

ously explores new and innovative paths to

of ways they can impact the world.”

encourage the spirit of entrepreneurship as

The team was among 14 finalists from

part of its economic development strategy,”

colleges across the country. Each participat-

he said. “We believe one of the best ways

ing region had a different “throwaway” item

to accomplish this is by encouraging the

from which students had 10 days to create

use of technology and stimulating creativ-

something of value and upload a video of

ity in the youth of the region – beginning in

their project to YouTube for judging. The

kindergarten and continuing through their

top three teams from each region advanced

post-secondary education.” ■

Walker College of Business

2009 STUDENT ENTREPRENEUR OF THE YEAR Eric Christianson Cornwell of Kilmarnock, Va., received the Student Entrepreneur of the Year Award from the Center for Entrepreneurship. Cornwell is a junior management major with a concentration in entrepreneurship. The $2,500 award is presented annually to student business-owners. Cornwell started a window tinting business while a sophomore in high school. Within a couple years, he began tinting commercial and residential properties. His company now tints windows across the East Coast. ■ Student Entrepreneur of the Year Eric Christianson Cornwell, who began his own window tinting business in high school.

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Student Spot

Business Fraternity Wins Big

AITP WINS TOP HONORS THREE YEARS RUNNING Twelve students from Appalachian State University’s Walker College of Business won seven national awards at the Association of Information Technology Professionals (AITP) National Collegiate Conference in Oklahoma City April 2-5. More than 600 people attended the conference from more than 65 schools across the country.

“Our trip to the conference was a great success,” said computer information systems assistant professor and club adviser Scott Hunsinger. “Our annual fundraiser along with student travel grants enabled these students to bring an impressive, seven national awards home to Appalachian.”

The Appalachian chapter was one of only four schools recognized nationally, and the only school in their five-state region named Outstanding Student Chapter of the Year. They were also recognized as having the most informative Web site.

In addition to the group successes, several of

Appalachian State University business students Molly Morgan, left, Appalachian Chapter President Seth Hall, Madison Pender and Sarah Weir received top honors at the Pi Sigma Epsilon (PSE) 2009 National Convention held in Norfolk, Va. Under Hall’s leadership, the chapter recently ranked 10th in Pi Sigma Epsilon’s National Chapter Efficiency Index rankings for 2008-09.

Finance Students Take Down Regional Competition

the club members took top honors in various competitions. Michael Ward placed first in the undergraduate student paper competition, and Whitney Powell received an honorable mention in the same category.

Ward received $250 for his achievement. Andrew Crenshaw received an honorable mention in the PC Troubleshooting Competition, and John Keels had one of the top eight scores on the test. Paul Visentin won the Best Tech/Geek Video Contest, receiving $100 from Office Depot for his efforts. Hunsinger, who traveled with the group, earned the AITP faculty “Going the Extra Mile” award.

The students held a pasta dinner and silent auction on campus to raise funds to travel to the competition. This marks the third consecutive year that the club has won top awards at the national conference. ■

A team comprised of business finance majors from Appalachian State University won the inaugural CFA NC Society Investment Challenge. They are Bixby Stewart, seated left, and Taylor Boyle, and Marshall Hargrave, standing left, and Chris Simmons, right. Delbert Goff, center, a professor in Appalachian’s Department of Finance, Banking and Insurance, helped prepare the students for the competition. Also participating on the team but not pictured is Josh Gates. The undergraduate team went on to defeat MBA students from Duke, North Carolina, UNCC and Wake Forest in the regional competition.

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Appalachian State University

Appalachian and European Students Collaborate in Entrepreneurship Course and Cultural Exchange This past spring, twenty Appalachian State University students collaborated with 19 students from the Universite Catholique de Louvain (UCL) in Belgium on a semester-long project as part of an international entrepreneurship class led by Bryan Toney, director of Appalachian’s Center for Entrepreneurship, and Dr. Frank Janssen, a professor of entrepreneurship from UCL. They were assisted by Julia Rowland, assistant director for the Center for Entrepreneurship.

The course began with the Appalachian students travelling to Belgium, where they were hosted by their UCL counterparts for a week. After developing business ideas, students divided into 10 multicultural teams and began working on business plan projects.

In addition, they attended a lecture

Students from Appalachian State University and students from the Universite Catholique de Louvain in Belgium sightsee during their exchange experience.

“Students learn on so many differ-

dent groups, attending consortium meetings

on the European Union, visited with two

ent levels with this unique course format.

and participating in faculty exchanges and

Belgian entrepreneurs, toured a traditional

In addition to learning about international

joint research.

small Belgian brewery and visited the

business and how to develop business plans,

European headquarters of Greensboro-based

they build strong friendships by hosting

neurship course has partnered with students

Center for Creative Leadership, where they

each other in their homes, resulting in a

at universities in Spain, Belgium, Austria

met with staff and participated in leadership

deep understanding of each other’s culture,”

and Germany. A new version of the course,

exercises. The group also visited historic

Toney said. “Both Appalachian and UCL

international entrepreneurship and global

sites in Brussels, Leuven and Bruges.

students actively participate in the delivery

technologies, is being offered this fall in

of the course by organizing group activities

partnership with the European University of

students hosted UCL students and organized

for their guests. In the end, they all find it

Madrid’s Valencia campus.

a number of activities. While in Boone, the

difficult to say goodbye to their new interna-

UCL students were hosted by Joseph Miller

tional friends.”

Later in the semester, the Appalachian

at Cheap Joe’s Art Stuff, where they learned

In the past, the international entrepre-

Here’s what one student, Senior Lauren Johnson, had to say about the experience:

The relationship with the Universite

“My study abroad experience “opened my

about one of the world’s largest art supply

Catholique de Louvain has developed as

eyes to new opportunities and possibilities

businesses. They met with John Allen from

part of the Consortium for Small and Medi-

for my life and my future career. It also

78-year-old Allen Industries, one of the na-

um Sized Enterprises and Entrepreneurship

helped me to prove to myself that I can ac-

tion’s leading commercial sign manufactur-

Education (SMEEE), which includes partner

complish something that I put my mind to

ers. They were also hosted by Crae Morton

universities in Belgium, Spain and Germa-

and adapt in new environments. What I will

at Grandfather Mountain.

ny, plus the University of North Florida and

take with me from this class are life-long

Clemson University.

friends and memories, the knowledge that

The visit culminated with a visit to the Center for Creative Leadership’s corporate

Since its inception in 2003, Appala-

there are so many different approaches to

headquarters in Greensboro, where the Bel-

chian’s participation in SMEEE has resulted

doing things, the ability to keep an open

gium students learned about the innovative

in 27 students spending at least one semester

mind about people, the confidence that I am

leadership training company and partici-

abroad on student exchanges, more than 100

capable of following through with my aspi-

pated in interesting exercises that helped

Appalachian students travelling to Europe

rations, and the experience to comfortably

them reflect on what they learned during the

as part of short-term courses and 10 faculty

travel abroad in a business setting.” ■

semester.

and staff travelling to Europe leading stu-

Walker College of Business

7

Be the Change

You Wish to See in the World One Appalachian Student’s Story of Finding and Pursuing Her Passion

“Be the change you wish to see in the world,” has always been

Even a balloon would make the children happy, but they were unaware that opportunities existed to improve their lives.

one of Sarah Green’s favorite quotes. During her studies at Appalachian State’s Walker College of Business, it became more than a motto. Thanks to a spring abroad, an influential student group and a powerful CEO speech, it became a guiding light for her life.

Now, the 22-year-old senior happily promotes the benefits of international travel to any student she meets, while preparing for a possible career abroad promoting entrepreneurship and measuring strategic risk in a country whose citizens have traditionally been averse to business risk.

“Everyone in the world is interconnected. The more we expand our mindsets on what’s going on in the world, the better it will be for all of us,” said Sarah, who encourages all of her classmates to find similar international experiences. “Getting involved offers students amazing experiences and, as a byproduct, makes them more competitive in the work force.”

Sarah’s attraction to international study opportunities began even before she came to Walker College. Soon after graduating

Sarah, back row, left, with a fellow teammate and AIESEC member and several Rwandan school children.

from Northwest Guilford High School in Greensboro, she and some of her peers took a trip to Nicaragua where they helped build a school and plan an afternoon sports camp for elementary-aged students. The experience impacted her. Although she was impressed by how content the Nicaraguan children appeared, she quickly realized how unnecessary it seemed for them to be so poor.

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Appalachian State University

Sarah and group members sight-seeing in the Bwindi Impenetrable Forest

“Even a balloon would make the children happy, but they were

In Spring 2008, with funding from a Walker College scholar-

unaware that opportunities existed to improve their lives,” Sarah

ship, Sarah joined two other students studying at the Universidad

said. That summer, she began considering how the lack of

de Alicante. She pursued the trip primarily to improve her Spanish-

knowledge about existing resources robbed groups like the

speaking skills and because of the rich history and culture of the

Nicaraguan people of opportunities to better their situations.

area. But while there, Sarah said she learned what it was like to be

She wanted to help.

a cultural outsider while still experiencing an empowering sense of

“Be the change you wish to see in the world.”

With the passion to help others semi-formed, Sarah began her

independence.

“When traveling abroad you have to take initiative and learn

studies at Appalachian. That passion soon flourished thanks to the

how systems work in other places,” she said. “It’s a lot of trial and

many study abroad opportunities promoted by Walker College, and

error that ends up being fun.”

its encouragement to explore international relations. Sarah became

During her time in Spain, Sarah served as president of AIESEC

interested in one particular group – AIESEC – and she was instru-

Appalachian. While in this role she was approached by Walker

mental in creating an official AIESEC chapter at Appalachian.AIESEC

College faculty about using AIESEC to coordinate a global trade

is a student organization dedicated to developing leadership skills

conference to be held at Appalachian. With a firm understanding

“Everyone in the world is interconnected.

The more we expand our mindsets on what’s going on in the world, the better it will be for all of us.”

of AIESEC’s mission, Sarah insisted that such a conference focus not solely on business, but also on opportunities to interact internationally on a social and cultural level. She wanted others attending the conference to leave the meetings with a similar belief to hers – that seemingly insurmountable social, cultural and economic obstacles

and expanding members’ world views, while providing members

all over the world can be overcome. She began planning what

international internships and on-campus cultural events. Sarah

would become known as the Global Opportunities Conference

chose to pursue an International Business major, which required an

while abroad in Spain.

international experience. Sarah quickly chose her trip – Alicante, Spain.

Walker College of Business

As much as Sarah immersed herself in international study, it wasn’t until Spring 2009 that she realized how much it meant to her

9

when she interned with a large accounting firm in Washington, D.C. Although she gained valuable work experience and enjoyed her time there, she felt unfulfilled. At the end of the day, she hadn’t directly impacted anyone’s life but her own. She hadn’t made a difference in the world.

“Be the change you wish to see in the world.”

Back at Appalachian that fall, Sarah continued her business studies. She was interested in finding a new international experience, while inciting her peers to do the same. Working through AIESEC, Sarah discovered and applied for a Young Entrepreneurs traineeship in Kampala, Uganda, that was available in Summer 2009. The traineeship focused on teaching entrepreneurship to students at Makerere University Business School. Her lesson plans included helping Makerere students develop and implement a business plan.

“The traineeship led me to Uganda, but I’ve always felt a

Makerere University Business School (MUBS)

draw to Africa,” Sarah said. “Some see it as dismal place with civil war and conflict, but I see that as an opportunity to make a difference. Because of high unemployment in the region, the concept of entrepreneurship is appealing to the people.

The mindset is that anyone can create a job for themselves.

They think that if they have an idea, they can start a business and make money. However, they have no concept of how to position themselves strategically in a marketplace. There is no real understanding of how to take a unique idea and become competitive and successful.”

Sarah spent the summer with her class encouraging her students to take risks. Sometimes she was successful, as in the case of a student who won a class contest with the idea of a plantain recycling business that produced clean-burning

Sarah teaching on her last day at Makerere Business School Sarah - front, second from left - and fellow students visit the Equator during their time abroad in Africa.

10

Appalachian State University

charcoal. Sarah’s encouragement, combined with their ingenuity, won them 2 million shillings (about 2,000 dollars) from the DFCU bank, who sponsored the competition. Sarah and three teammates from the Netherlands secured the sponsorship as part of an annual competition called AFRICA YES (an AIESEC program). This sponsorship allows these and other students an opportunity to test their business plans in the Ugandan marketplace.

While working with the African students, Sarah realized that the American mentality of “going in and doing great things” wasn’t quite right. She now believes that providing people with resources and opportunities that enable them to help themselves is the best way to truly improve their world. “This experience changed my perspective about how to help people and help develop countries,” she said.

“Be the change you wish to see in the world.”

In the spring of 2009, Sarah attended the Harlan Boyles Distinguished CEO lecture on campus. It would further change her life.

Jim Morgan, CEO of Krispy Kreme Doughnuts, delivered a speech to a crowd of more than 500 students and faculty. The message was personal for Sarah. Morgan talked about his own passion for his career, and Sarah wanted that passion. She remembers Morgan saying that if you have a job you’re not passionate about, then you are doing someone else’s dream job or fulfilling someone else’s dreams for you.

Sarah had been offered a job with the accounting firm in Washington, D.C., and the offer was still on the table. She knew the easy choice was to accept the high-paying job, but over the next few days, she kept thinking about Morgan’s words. She knew it might be seen as irresponsible, especially given the current economic downturn, to decline the job, but she didn’t want to live someone else’s dream. She wanted to be passionate about her work.

In his speech, Morgan alluded to the idea that one can only really have influence if they’re doing what they love. Was she going to be the change she wished to see in the world at the accounting job? A week later, Sarah declined the job.

Sarah, now a senior at Appalachian, currently serves as AIESEC’s East Africa program director. She matches students with internships in Rwanda, Uganda, Tanzania and Kenya. Although still unsure of her plans after graduation, she is considering accepting a job offer with the Rwandan government. The position would allow her to develop entrepreneurial opportunities in the international private sector. She would be helping Africans help themselves by giving them the knowledge and opportunity to develop strategically-sound business plans, while helping them analyze the risk associated with the endeavor.

HIGH COUNTRY GLOBAL OPPORTUNITIES CONFERENCE The High Country Global Opportunity Conference, coordinated

by AIESEC, is now in its second year at Appalachian. It is scheduled for Friday, October 9, 2009.

This conference gives students ideas about where they can go and how they can fund their international experiences. Registration is open for any student, regional business owner or community member interested in learning more about global opportunities in our rapidly changing world. Experts in global business will focus on our changing economy and emerging opportunities throughout the world. Panelists will discuss their international endeavors, successes and challenges, and give advice based on their expertise.

The conference provides ideas, knowledge and resources that will encourage Appalachian students and the regional business community to seek global opportunities and help them succeed in an increasingly global world.

You can find more information at www.2009goc.com

Sarah will be pursuing jobs that work to alleviate poverty through enterprise and entrepreneurial development. One thing is certain, she will be the change she wants to see in the world.

Walker College of Business

11

Focus onFaculty

NEW CHAIRS ANNOUNCED

Dr. Betty S. Coffey, a professor of

WELCOME NEW FACES

Several new faculty members have recently joined Walker

strategic management, has been named

College of Business with very diverse areas of educational

chair of the Department of Management

experience and expertise. Below are eight faces of tenure-track

and Dr. John Whitehead, a professor of

faculty new to the halls of Raley.

economics, has been named chair of the Department of Economics.

Coffey joined the Walker College of Business in 1992 as an assistant professor. She was promoted to associBetty Coffey, Chair Management

ate professor in 1998 and professor in 2006. In 2004, she was a Fulbright Scholar to the People’s Republic of

China. She received the Walker College Award for Excellence in Teaching in 1999, and she was awarded the Distinguished Graduate

Pia Albinsson, MKT

Ken Corley, CIS

Alanah Davis Mitchell, CIS

Heather Dixon-Fowler, MGT

Scott Hayward, MGT

Dwayne McSwain, ACC

Tracy Reed, ACC

Sandra Vannoy, CIS

Faculty Award from Appalachian in 2008.

Coffey earned a Ph.D. in strategic management from the University of Tennessee, a master of health administration degree from Xavier University, a master’s degree in counseling from the University of Alabama and a bachelor’s degree in elementary education from Berea College.

Whitehead joined Appalachian as an associate professor in 2004 after teaching stints at UNC Wilmington and East Carolina University. He was promoted to professor in 2006. He is an associate editor of the journal Marine Resource Economics and a member of John Whitehead, Chair Economics

the editorial council for the Journal of Environmental Economics and Manage-

ment. In 2007, he received the Walker College Award for Excellence in Research.

Whitehead’s research focuses on the valuation of environmental and natural resources. He was part of a statewide study on the impact of climate change on the state’s coastal areas and has worked with the South Atlantic Fishery Management Council on studies related to the value of marine recreational fishing. Whitehead also has researched the value of sports stadiums to local and state governments that often subsidize their construction.

Whitehead has a Ph.D. and master of arts degrees in economics from the University of Kentucky and a bachelor’s degree in economics and management from Centre College in Kentucky. ■

12

Appalachian State University

Risks with New Accounting Standards

Ken Brackney

FACULTY RESEARCH

Ron Marden

Businesses should prepare for a rather drastic change in accounting principles; changes that may inspire debate come audit

and judgments they have made, and auditors

You never know what you’re going to

may no longer have a detailed set of rules

find at a thrift store: some vintage t-shirts,

for measuring conformity with IFRA (e.g.,

a nice set of dinner plates, maybe even a

the absence of “bright-line” numbers for

social security number and private bank

identifying a capital lease).

information - and all at a low, low price.

Additionally, U.S. GAAP generally

The latter finds are not uncommon

includes not only accounting principals and

according to recent report by three Walker

practices, but also the “methods” of apply-

College researchers. An issue of the Jour-

ing them (AU 410, Adherence to Generally

nal of Information Privacy and Security

Accepted Accounting Principles) and IFRS

includes a research report by Drs. Dawn

is no different. Consequently, if the rules

Medlin and Joseph Cazier, along with CIS

for establishing conformity with financial

graduate Robert Weaver, centered on the

reporting are reduced or eliminated, it may

ease of finding treasure in another’s trash.

become even more difficult for auditors to

The paper is entitled “Consumer’s PCs: A

challenge management’s judgments on the

study of Hard Drive Forensics, Data Recov-

methods used to apply the predominantly

ery and Exploitation.”

principles-based IFRS. The article is available in full online

The team scoured second-hand markets for computer hard drives on sale. They

time, according to accounting professors

at www.cpajournal.com. The authors point

found 58. They then attempted to access

Ronald Marden and Kennard Brackney in

out the specific “risks of material misstate-

the drives and recover any information they

the June 2009 edition of The CPA Journal.

ments” at the assertion level, and reflect on

could - they found plenty. More than 50,000

In an article entitled “Audit Risk and

the cultural differences between the U.S.

files were recovered, on average, from each

IFRS: Does Increased Flexibility Increase

and other countries that may pose unique

drive. Some had more than 300,000 files

Audit Risk,” the two say “Recent develop-

challenges.

visible. With regard to specific information,

ments suggest the United States may be

They conclude that, in relation to recent

more than half the drives had a full name on

quickly moving toward adopting Inter-

financial fiascoes such as Enron, this “shift

file, 20% had addresses and phone numbers,

national Financial Reporting Standards

toward a more principles-based approach

and 8% had Social Security numbers.

(IFRS).” And that poses some choices for

has the potential to actually increase the

One hard drive contained the user’s

businesses.

likelihood of allowing manipulations to

calendar and an extensive address book with

According to the authors, IFRS is

go undetected longer, allowing managers

the names, positions, address and personal

“more flexible” than the “principles-based”

to shape the standards to suit their desires,

(cell) phone numbers of several high-rank-

standards of U.S. Generally Accepted Ac-

resulting in even more future financial

ing government employees. The user had a

counting Principles (GAAP). This could

scandals.” ■

file consisting of their last will and testa-

lead to a difference of opinion between auditors and management regarding financial reporting. Plus, it means more work.

Moving to IFRS will not only affect companies’ information systems and financial reporting processes, but also their contractual and compensation arrangements

The Dangers of Disposing of Computers

ment and other personal documents which had been saved and later sent to the Recycle Bin, all of which were recoverable without using special software. Another hard drive contained information related to tax returns including individual client’s names, addresses, phone numbers, social secuirty

and even their training (particularly for

numbers and date of birth, almost every-

boards of directors and audit committees).

thing one would need to assume another

IFRS certainly will change the current dy-

person’s identity.

namic between auditors and preparers in the

The report includes information on

United States. Given that IFRS is less pre-

how best to render a hard drive empty of all

scriptive than U.S. GAAP, companies will

data, and promised additional research in the

need to produce more detailed and specific

future using a larger sample size. View it on-

disclosures to help explain the presentations

Walker College of Business

Joseph Cazier

Dawn Medlin

line: http://jips.cob.tamucc.edu/Vol4-3.pdf. ■

13

Focus onFaculty

Excellence Awarded Walker College Excellence Awards

Four Walker faculty members were recently named recipients of the

APPALACHIAN PROFESSOR HELPS DOCUMENT CHILD LABOR

College’s 2009 Excellence Awards. Pictured from left, Leigh Dunston

one in six children worldwide, are engaged in child labor.

erman (MGT) was recognized for his research and Dinesh Dave (CIS)

And while most of us probably conjure up images of children

was honored for his service contributions. A contribution from Business

working in agricultural settings or factories when the term child

Advisory Council emeritus member G.A. Sywassink, CEO of Standard

labor is mentioned, its scope extends to such unseemly settings

Holding Corporation in Charlotte, provides a monetary gift to the re-

as the sex industry or warfare.

cipients. The College’s excellence awards are presented annually. ■

An estimated 160 million children aged 5-14, or about

(FIN) was recognized for his contributions as a non-tenure track faculty member, Ken Brackney (ACC) was honored for his teaching, Jim West-

Hugh D. Hindman, professor of management, is editor of the recently published book “The World of Child Labor, An Historical and Regional Survey.” Published by M.E. Sharpe Inc., the 1,032-page work is a reference encyclopedia for libraries, students, scholars and others interested in the topic The work features 222 essays written by Hugh Hindman, Professor Management

178 different scholars, researchers or activists from around the world.

Hindman’s essays in the book include “Child Labor in

Board of Governors Award Richard Pouder, associate professor

American Textiles,” “Evolution of US Child Labor Law,” “Child Labor in China: An Overview” and “Worst Forms of

of management, received one of Appala-

Child Labor,” which Hindman says includes children in bond-

chian’s 2009 Board of Governors Awards

age, child soldiers and the commercial sexual exploitation of

for Excellence in Teaching. Pouder has

children. “I had never taken an in depth look at those forms of

taught in the Walker College since 2000.

child labor. That was an eye opener,” he said.

He teaches Strategic Management and Social Responsibility to seniors in the

While the International Labor Organization claims that

college.

the instance of child labor is declining worldwide, Hindman is

“Teaching the capstone course

more cautious. “To say we are turning the corner is maybe a

for senior business majors is a highly

little optimistic at this point,” he said. “While you can see real tangible measurable progress in a handful of countries that used to have very difficult child labor problems, including Brazil,

Rich Pouder, Associate Professor Management

rewarding experience. It enables me to apply my real world business experi-

Mexico, Turkey and Vietnam and a handful of others, in many

ence and academic research in ways that help prepare students for

other parts of the world there has been little progress.”

their imminent careers as business practitioners. It also challenges

Child labor isn’t as prevalent or visible in the United States

me to keep current in knowing and conveying to my students new

as it once was, Hindman said, but it remains a problem. “We

interpretations of an ever-changing competitive and global business

don’t see, except in rare circumstances, child labor in U.S. manu-

environment. Moreover, a course design that emphasizes working

facturing or mining sectors. We do have some persistent prob-

closely with students enables me to build mentoring relationships that

lems in agriculture where a child can work unlimited hours at the

continue well past their graduation,” said Pouder.

age of 12,” he said. “We have 400,000 or more young, mostly

The University of North Carolina Board of Governors Awards

Latino kids working often in migrant agriculture. So that’s a per-

for Excellence in Teaching were created in 1994 to encourage,

sistent problem. Also, we have persistent problem of trafficking

identify, recognize, reward and support excellent teaching within the

of children, some for commercial sexual exploitation or for work

University. The Board of Governors also funds six additional teach-

in domestic service. So for the U.S., it’s a mixed bag.” ■

ing awards which are presented by the University. ■

14

Appalachian State University

AroundRaley

DIRECTOR OF DEVELOPMENT APPOINTED

Rob Hudspeth has been named director of development

for the Walker College of Business. Hudspeth began his new role on July 13 and replaces previous director Geoff Graham, who has moved to Appalachian’s advancement office as assistant vice chancellor for gift planning and real estate management. Hudspeth will work closely with Gerry Smith, who remains on the Walker College of Business staff part-time as advancement specialist. Hudspeth brings applicable experience from successful careers in sales and marketing from the Rob Hudspeth, Director of Development

technology and pharmaceutical industries and has significant international sales experience. He is a graduate of North Carolina State University. Rob can be reached by telephone, (828) 262-6231, or by e-mail, hudspethrc@appstate.edu.

Walker College Ranked Nationally Among Top Universities The Princeton Review’s Best Business Schools The Walker College of Business is one of 10 business schools included in the “Best Campus Environment” category in the Princeton Review’s Best 296 Business Schools: 2009 Edition. The inclusion is based on student assessment of the location of the school who praised its mountain location as well easy access to nearby cities for more urban activities. “Most people pursue their own personal hobbies during their spare time,” wrote one student. “Being near the Blue Ridge Parkway and several ski slopes, a lot of people are involved in outdoor activities.” As one student put it, “If you like nature, long winters, and small, close-knit groups of friends, then you should look into ASU.” The magazine does not rank the schools in the book on a single hierarchical list from 1 to 296, or name one business school best overall. Instead, the book has 11 ranking lists of the top 10 business schools in various categories, such as best facilities, professors or classroom experience, and schools with the greatest opportunity for minorities and women. On average, 65 students at each business school were surveyed for the rankings lists appearing in the new editions of the books. The 80-question survey asked students about their

BRAZILIAN CONGRESSMAN VISITS CAMPUS

Congressman Francisco Caminha, (pictured at bottom, right) from Ceara, Brazil, received a state flag from N.C. Lt. Gov. Walton Dalton during Caminha’s recent visit to the N.C. Legislature in Raleigh. Caminha represents the metropolitan area of Fortaleza. He is the second vice president of the state legislature, a lawyer, and is involved in developing Ceará’s “University of the Parliament,” which helps train future public servants.

Caminha was among a delegation of business leaders who visited Appalachian to participate in an international initiatives program co-sponsored by the Walker College of Business and the U.S. Commercial Service.

The event was designed to promote international business and give students, faculty and community members the opportunity to learn about trading opportunities with Brazil.

The Brazilian discussion is part of a series of global opportunity sessions sponsored by the Walker College and the USCS. Each workshop highlights country-specific opportunity discussions. ■

school’s academics, student body and campus life, themselves, and their career plans.

U.S. News & World Report’s 2009 America’s Best Colleges Guide These accolades come alongside Appalachian’s rising to the No. 9 spot in the “Best Universities-Master’s in the South” category in U.S. News & World Report’s 2009 America’s Best Colleges Guide.

Appalachian also ranked fourth in the magazine’s South’s top public master-degree granting universities category, also in a tie with the College of Charleston. Appalachian has placed among the top 15 southern universities since the rankings first appeared in 1986. ■

Walker College of Business

Brazilian Congressman Francisco Caminha, right, receives a state flag at the NC Legislature

15

Martha Guy Summer Institute Celebrated

Martha Guy, middle in red, with the 2009 Martha Guy Summer Institute Class and Appalachian Administrators

Kati Knowland of NC Magazine recently profiled the Martha

that affect both Appalachian and companies across the state. “For

Guy Summer Institute. Here’s what she had to say about this seven

Appalachian, it shows that we are very committed to helping stu-

year-old program: For three weeks each summer, Walker Col-

dents, even those who aren’t even our students yet,” she said. “I also

lege of Business at Appalachian State University opens its doors to

think it shows that we have a commitment to supporting economic

some of the state’s best and brightest high school juniors and gives

development — and not just in our region. These students are ex-

them an introduction into the world of business. Each year since

posed to a lot of topics that they can take and use in their daily lives,

the program started in 2004, the Martha Guy Summer Institute for

so I feel like we’re providing a lot of citizenship and leadership

Future Business Leaders has welcomed 24 students to the campus of

development opportunities as well, not just business education.”

Appalachian State for two weeks of business and leadership classes

The program also gives a variety of industries the opportunity

and hands-on learning, followed by a one-week trip to Washington,

to expose students to the importance and value of what they do.

DC, and New York to see business concepts in action.

For example, this year’s institute included a focus on the tourism

Deanne Smith, director of the program, noted that the institute

industry, and students learned about the size of the industry in North

helps expose some of the state’s brightest students who have an

Carolina and its importance to the economy. “We give them so

interest in studying business to the campus, but it also helps those

much in the way of information and knowledge and just experience

students decide whether business is the right educational path for

that I think that they’re just blown away by what’s been given by

them. “The program helps participants understand if they definitely

them,” said Smith, “and it’s all been made possible by Ms. Guy.”

want to pursue business or if they want to major in something else

Martha Guy, who provided funding for the program, has an in-

and pursue a minor in business,” said Smith. “Business is so varied

teresting story of her own. After graduating from UNC-Chapel Hill

in terms of areas of study and job opportunities that it really helps

at the age of 19, she went on to pursue a master’s degree in chemis-

them zero in on what they’re interested in.” Smith added that the

try. Then her brothers left to fight in World War II and she returned

program also helps students decide what they don’t want to major

home to help run her family’s bank in Avery County. She eventually

in, which can be just as helpful to a high school junior.

warmed to the banking industry and went on to lead Avery County

As a part of the two-week on-campus portion of the program,

Bank for the next sixty years. Guy’s endowment means that, while

participants work in groups of four to take an idea for a business and

the three-week program costs about $2,750 per person, students pay

develop a business plan, then present that plan to a panel of judges.

only $700, including housing, meals, instruction and all travel ex-

The top proposal at this year’s institute, which concluded Aug. 1,

penses. “Ms. Guy has been a good friend to the College of Business

was for a Web site called Exchange.com, an online marketplace in

over the years,” noted Smith.

which buyers and sellers could exchange items, rather than simply

As for the lessons the students learn while at the summer insti-

purchasing them. Other ideas included a company that would help

tute, Smith said they will last a lifetime. “I truly believe that they

other businesses become more environmentally friendly, a company

will remember a lot of these lessons for many, many years to come.

that would provide marketing information about Generation Y, an

Even if there was a guest speaker that perhaps they might not recall

organization that would help schools raise private funds, a drive-

today, at this moment, probably four years down they road they’re

through convenience store and a company that would create new

going to think, ‘Oh yeah, I remember that person at the Martha Guy

products from leftover wood from construction sites.

Summer Institute said that to me.’ So I think that the light bulbs will

Smith noted that there are a variety of outcomes of the program

16

continue to be switched on for a long, long, long time.” ■

Appalachian State University

Dedicated Employees Mean Bright Future for Krispy Kreme Krispy Kreme Doughnuts Inc. focuses

including China, Turkey and Malaysia.

Morgan said. “It’s not bricks and mortar,

on more than just making tasty doughnuts.

“Some mistakes were made years

The company values relationships – those

ago,” Morgan said. The company has faced

here tomorrow. It’s a company of incredible

with its customers and its employees. That’s

a shareholder’s lawsuit and investigations

people.”

why CEO and President James H. Morgan

by the Securities and Exchange Commis-

believes the company will overcome its

sion and U.S. Department of Justice, among

on making a difference in the lives of others.

financial challenges of the past five years.

other legal actions.

“If you do that, I believe that the country

Morgan spoke to business students and

“The people who are paying the price

it’s not a company that’s not going to be

Morgan encouraged students to focus

might never again face the moral, ethical,

others during the Harlan E. Boyles Dis-

for that right now are not the people who

business and political morass that has been

tinguished CEO Lecture Series March 26

had anything to do with those decisions,”

primary contributors to the current econom-

hosted by Appalachian State University’s

Morgan said. “The employees of Krispy

ic turmoil,” he said. ■

Walker College of Business. The series is

Kreme have been beaten down and berated

named for the late Boyles who was state

in the press for five years now. It’s pretty

treasurer for 24 years.

hard to come to work every day, excited

Morgan left retirement from Wachovia Securities in early 2008 to head Krispy Kreme. “There were a lot of reasons I said

about what you are doing when you have that hanging over you.”

Morgan said that adversity will

yes, but the greatest was that I knew the

strengthen the company. “I’m not sure you

people at Krispy Kreme, I knew they had

will ever be as good as what you are trying

a passion for the brand, I knew they had a

to do in life if you haven’t been humbled at

passion for the product and I had a passion

least once or twice,” he said. “You learn to

for them,” he said. “And I believed that they

understand what you can’t control and you

were the people who could turn the com-

understand what is truly important.”

pany around.”

Morgan said Krispy Kreme was not just

Morgan said Krispy Kreme was a com-

in the business of selling more doughnuts.

plicated company that made an uncompli-

“Our mission is to use this magic product

cated product.

called Krispy Kreme to make a difference

Despite its 72 years in business, many think the company’s future is short lived, based on past financial problems.

in this world where we live. And I’m telling you, we’re going to do it,” Morgan said.

Morgan told of employees at one

Morgan disagrees. “We at Krispy

Krispy Kreme location who made a special

Kreme believe that we are guardians of

order of heart-shaped doughnuts to help a

something very special,” he said. The

young boy celebrate his heart transplant

company is in 38 states and will have loca-

anniversary with his classmates. “I want you

tions in 20 foreign companies by year’s end,

to understand that’s what Krispy Kreme is,”

Morgan speaks to an MBA class (top) and advises students during the reception portion of the Spring CEO lecture (bottom).

CEOS OF BB&T, CORNING SPEAK AT UPCOMING CEO LECTURES Kelly King, President and Chief Executive Officer of BB&T Corporation, is the Fall 2009 Harlan E. Boyles Distinguished CEO Lecturer.

The event, held on Monday, October 5, also brings John Silvia, Chief Economist for Wells Fargo Securities, to campus as the Executive Luncheon Speaker.

The Spring lecture date is set for March 25, 2010. Mark your calendar now to hear Clark Kinlin, President and Chief Executive Officer of Corning Cable Systems, Inc., deliver the spring lecture.

Kelly King, CEO, BB&T

Clark Kinlin, CEO, Corning

Walker College of Business

Learn more about the series at www.business.appstate.edu/ceo. ■

17

Alumni andFriends

Washington Post Takes Cues from Walker College Alumnus At least one

Richard

that potential homeowners said would

national business

persuade them to purchase a home was

Stroupe, a 1998

columnist thinks that

the catalyst for Price’s plans for the TARP

graduate of the

Citizens South Bank

funding.

Computer Informa-

President and CEO

Kim Price, ‘77, CEO of Citzens South Bank

ALUMNUS’ BUSINESS AMONG DC’S BEST

tion Systems (CIS)

“The potential home buyers said lower

Kim Price could teach

interest rates and no closing costs would

Department, is Sr.

the big banks a few

entice them to buy a home,” Price said. “I

Vice President of

lessons about creative

said, I think we can create that. It would

Operations of NCI

use of the U.S.

help builders, developers realtors, construc-

Information Sys-

government’s federal

tion workers and all those associated with

stimulus funds.

home building.”

Price, a 1977

Richard Stroupe, ‘98, CEO of TRS Consulting

tems, Inc. Stroupe was President and CEO of TRS Con-

Word of the plan generated interest

graduate of Walker College, caught the

from Charlotte-area and national news net-

sulting Company until August, at which

attention of the Washington Post and other

works, and hundreds of e-mails to the bank.

time he merged the company with NCI.

newspapers in early 2009 for his plans to

The Washington Post blog had more than

put funds from the Troubled Assets Relief

30 pages of notes from across the country.

Washington Business Journal as one of

Program to work in the six counties that

“I can’t even talk about the response it’s so

the best places to work in the greater

Citizens South serves.

flattering. It’s very humbling to be recog-

Washington, DC area. The Journal

nized for simply trying to do what should

ranked TRS Consulting No. 1 among

bank will use $20.5 million in TARP funds

be normally expected,” he said. While

medium-sized companies.

to finance low-interest mortgages for the

homebuilders are excited about the plan,

purchase of new homes that are constructed

Price says the proof of its success will rely

and employees 54 people. The Business

by builders who financed the construction

on consumers’ willingness to purchase new

Journal described it as a federal govern-

through Citizens South. To further ease

homes.

ment focused information technology

Price told the Washington Post that his

home ownership, Citizens South will waive

Harry Davis, the N.C. Bankers’ Associ-

This summer, TRS was named by

TRS is located in Reston, Virginia,

services and training company and listed

closing costs for qualified buyers, and offer

ation Professor in the college, agrees. “The

extra perks and benefits for employees

loans starting at 3.5 percent for the first two

story out there is that banks are not lending

such as on-site fitness center or instruc-

years of a 30-year mortgage with that rate

the money that they are getting through

tion, commuter/parking discounts or

rising to only 5.5 percent after two years.

the TARP program, but many are,” he said.

reimbursements.

Price began his banking career right

“One of the problems is finding people will-

The Business Journal recognized

after graduating from Appalachian. He

ing to apply for loans. Small businesses are

50 companies in four categories as Best

started his career with First Citizens Bank

reluctant to borrow money to expand in a

Places to Work. The rankings were based

and also worked with 1st Home Federal, the

recession and consumers are cautious about

on nominations and surveys.

Federal Home Loan Bank of Atlanta and

applying for home or auto loans.”

First National Bank of Shelby before joining

“The builders and media love this plan,

Stroupe, who founded TRS is 2001, is an advisory board member for the

Citizens South in 1997. During the course

but is it enough to motivate the consumer?,”

Walker College’s Center of Entrepreneur-

of his career, Price has witnessed the ups and

Price said. “Is it enough to overcome what-

ship and its CIS department. ■

downs of the economy, but he says this reces-

ever fears they might have about prices,

sion is the most difficult he has ever seen.

jobs, and the economy at large? This is a

A newspaper article about incentives

18

good litmus test.” ■

Appalachian State University

HOW YOU CAN MAKE A DIFFERENCE In order to continue to develop the Walker College of Business into a visionary

and student and faculty travel, among other

and inspired while experiencing the unique

things.

academic experiences that Appalachian

The Center for Entrepreneurship:

college of business, we encourage support

State University has to offer.

Additional faculty resources remain

for the following initiatives. We offer many

Students at the Walker College of Business

different opportunities to positively impact

and across the university display unique

critical to attracting and retaining the high-

a program or enrich a student or faculty

visions and gifts in creating new businesses.

est quality teachers. Professorships, faculty

member. Please consider these financial

Entrepreneur programs provide innovative

grants and other sources of support help

gift opportunities – including scholarships,

and informative means for them to develop

insure continued excellence in teaching at

professorships, and naming rights – as each

their ideas as well as transform their visions

the Walker College of Business.

can make an immediate impact.

into successful business realities.

The Walker College of Business

International Programs: These funds

Additional funding for diversity programs will help us gain more national

Dean’s Club was created in 2001 as a

are used to provide international travel op-

and international experiences and knowl-

means for the Dean to provide funding

portunities for business students as well as

edge from less represented groups that can

throughout Walker College. The fund gives

to bring outstanding international students

enhance our entire student body.

the college greater flexibility in meeting

to Appalachian State University to be chal-

the changing needs of students as well as

lenged and inspired by the educational expe-

or in honor of a friend or family member is

the essential and visionary needs of the

riences at the Walker College of Business.

a very special way to create a legacy while

The Martha Guy Summer Institute

enabling future generations of Appalachian

college. As a member of this premiere giving society, you will support scholarships,

provides high school students from North

classroom enhancements, new programs

Carolina the opportunity to be challenged

Endowing a scholarship in memory

students to receive a high-quality education.

“Your generous support will not only TO INQUIRE ABOUT HOW TO GIVE: provide financial assistance for innovative students, it will give them the Randy Edwards Rob Hudspeth Gerry Smith Dean Director of Development Advancement Specialist distinctive opportunities, instruction (828) 262-2058 (828) 262-6231 (828) 262-2147 and programs in which their talents can edwardsrk@appstate.edu hudspethrc@appstate.edu smithgd@appstate.edu grow.”

– Dr. Kenneth E.The Peacock, Chancellor Walker College of Business, The BilTmore Company of Appalachian State University and The Boone area ChamBer of CommerCe present

The appalachian family Business forum Join us this fall as CeOs of successful, nC-based, family-owned businesses discuss hot topics for familyowned businesses, including Working with Family and Managing Conflict, Succession Planning, Family versus non-family employees, and Lessons from Multi-Generational Companies. panelists will include Bill Cecil, Jr., CeO of the Biltmore Company; Joseph Miller, COO of Cheap Joe’s Art stuff; Crae Morton, president of Grandfather Mountain; and Chris robbins, president of tweetsie railroad.

Tuesday, october 20 10am-3pm The Broyhill inn & Conference Center Bill Cecil, Jr., Ceo The Biltmore Co.

Joseph miller, Coo Crae morton, president Chris robbins, president Cheap Joe’s art stuff grandfather mountain Tweetsie railroad

space is limited, so register today: www.business.appstate.edu/familyforum Check-in begins at 9:30am. the registration fee is $25.00 and covers light breakfast, breaks and lunch.

For more information, contact sabrina Cheves, 828-262-8548 or chevesss@appstate.edu.

Walker College of Business

19

Alumniand Friends

NEW SCHOLARSHIPS ESTABLISHED Allen Family Scholarship for International Travel Brothers Clayton, Chester and Sam Allen know the value of studying abroad. Each traveled overseas while students at Appalachian.

The brothers want other Appalachian students to have the same op-

SCHOLARSHIP RECEPTION Thanks to generous donors, more than $275,000 was awarded to 189 students in the Walker College of Business for the 2008-2009 year. Each Fall, scholarship donors have the opportunity to meet the recipients of their generosity at a special reception. Below are just a few of the photos from the 2008 event. ■

portunities they experienced while on a study abroad program. They have helped establish the Allen Family Study Abroad Scholarship Fund that will provide awards for 10 students each of the next five years to Appalachian students enrolled in study abroad programs in the Walker College of Business. Preference will be given to students participating in international entrepreneurship courses. The first scholarships will be awarded this fall.

“Traveling to Spain and Scandinavia while I was in school gave me invaluable perspective,” said Chester Allen, a 2005 graduate of Appalachian’s BSBA program in management. Allen is a real estate advisor for Grubb & Ellis|Thomas Linderman Graham in Raleigh.

“I am so excited to be in a position to help other Appalachian students experience what I did,” he said. Clayton Allen, a 2003 BSBA management graduate, works in sales for Madix Store Fixtures in Richmond, Va. Sam Allen is a senior marketing major at Appalachian and plans to graduate in December.

The Walker College recognizes the importance of an international study experience and encourages students to participate in study abroad. Last year, more than 150 Walker College of Business students participated in an international study experience.In 2008 rankings by The Chronicle of Higher Education and the Institute of International Education, Appalachian was in the top 10 of master’s degree granting institutions in terms of the number of students studying abroad. ■ Karen Lea Byrd Memorial Scholarships Two scholarships have been established in Appalachian State University’s Walker College of Business in memory of alumna Karen Lea Byrd who died in unexpectedly in February 2009. Byrd was a 2004 graduate in accounting and computer information systems. She earned a master of science degree in accounting in 2005. The Deloitte/Karen Byrd Memorial Scholarship was established by her fellow employees at Deloitte & Touche. Byrd was an in charge auditor with Deloitte, working out of the Charlotte office at the time of her death. The scholarship will be awarded annually to an accounting major at Appalachian. The Karen Byrd Memorial Scholarship for Business was created with gifts made by Byrd’s friends and family. The scholarship will be awarded to students majoring in business at Appalachian. For more information or to make a contribution to either or both of these scholarships, contact the Walker College of Business at 828-262-2057. Contributions can be made online at www.givenow.appstate.edu/business. ■

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Appalachian State University

NEW GRADUATES - 2009 COMMENCEMENT

MARK YOUR CALENDAR NOW FOR THE 11TH ANNUAL

LEWIS L. MACK ALUMNI DAY FEBRUARY 8, 2010

Appalachian alumni coming together with business students.

If you are interested in sharing your professional experience with the business leaders of tomorrow the students in the Walker College of Business, then consider participating in Alumni Day. All classes on this day are taught by Walker College alumni like you.

For information, contact Heidi Ragan at raganhw@appstate.edu or 828-262-7579.

Walker College of Business

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2009 APPALACHIAN MOUNTAINEER FOOTBALL

WALKER COLLEGE OF BUSINESS DAY October 24, 2009 - Kidd Brewer Stadium Appalachian vs. Georgia Southern EXCLUSIVE PACKAGE FOR WALKER COLLEGE OF BUSINESS EMPLOYEES, ALUMNI AND THEIR FAMILIES The excitement of the Mountaineer Football team’s national title campaign continues at home with this showdown between heated rival Georgia Southern.

Join us as we celebrate Walker College of Business Day in front of a packed house on Black Saturday, October 24th, with kickoff slated for 3:00 PM. Walker College of Business employees, alumni, and their families may purchase tickets at a special rate of $22 per ticket for this game (special reserved section).

To reserve your discounted tickets, simply fill out this form and send with payment to the: ASU Athletics Ticket Office Holmes Convocation Center Boone, NC 28608

Special halftime recognition for the Walker College of Business

We look forward to seeing you as we celebrate business while cheering the Mountaineers on to victory over the Eagles.

Make checks payable to: ASU Athletics Ticket Office To order tickets by phone, call (828) 262-2079 ask for the special Walker College of Business Day Seating

NAME: __________________________________

Number of Tickets: _____________________

ADDRESS: _______________________________

x $22.00 each: _____________________

CITY, STATE ZIP: __________________________ EMAIL: __________________________________

Processing Fee:

+ $5.00

Total Payment Enclosed: $____________________

DAYTIME PHONE: _________________________ VISA

/

MASTERCARD

GRADUATION YEAR: ______________________

CREDIT CARD #: _____________________________

DEGREE EARNED: ________________________

EXPIRATION DATE: ___________________________