Prospectus - Fall 2007 by ISU College of Business

PROSPECTUS COLLEGE OF BUSINESS

■

ALUMNI MAGAZINE

IN THIS ISSUE ■

C A M PA I G N I O W A S TAT E

■

COLLEGE ADDS NEW MAJOR

■

H O M E C O M I N G AWA R D E E S

FALL 2007

Investing in

Our People

The Next Priority for the College of Business

PROSPECTUS

VOLUME 23 NUMBER 2

■

FALL 2007

Dean . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Labh Hira Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan Design . . . . . . . . . . . . . . Mauck • Groves Branding and Design Writers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Eric Dieterle Mike Ferlazzo Jeremy Galvin Mary Jo Glanville Charles Handy Dan Ryan

Photographers . . . . . . . . . . . . . . . . . . . . . . . . . . .Farshid Assassi Bob Elbert Mary Jo Glanville Jim Heemstra Beth Romer Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Colorfx Contact College of Business Iowa State University 2200 Gerdin Business Building Ames, Iowa 50011-1350 Phone: 515 294-3656 E-mail: business@iastate.edu Web: www.bus.iastate.edu Prospectus is prepared twice per year by the College of Business at Iowa State University. It is sent without charge to alumni, friends, parents, faculty, and staff of the College of Business. Third-class bulk rate postage paid to Ames, Iowa, and at additional mailing offices. The views and opinions expressed in this publication do not necessarily represent official statements or policy of Iowa State University but are the personal views and opinions of the authors. Prospectus welcomes correspondence from alumni and friends. Send your comments to Dan Ryan, editor, at the above e-mail or postal address. Prospectus reserves the right to edit all correspondence published for clarity and length. Iowa State University does not discriminate on the basis of race, color, age, religion, national origin, sexual orientation, gender identity, sex, marital status, disability, or status as a U.S. veteran. Inquiries can be directed to the Director of Equal Opportunity and Diversity, 3210 Beardshear Hall, 515 294-7612.

The College of Business at Iowa State University is accredited by AACSB International —The Association to Advance collegiate Schools of Business. The AACSB is the premier accrediting agency and service agency and service organization for business schools.

Features

Laying the Foundation First, the building.

Easing the Burden Making college easier to afford for business students.

Now, the people.

Our Faculty, Our Future How the College of Business plans to attract — and keep—the

Giving Back What motivates College of Business donors?

very best.

ON THE COVER

Departments

NEARLY FOUR YEARS AFTER THE OPENING OF THE GERDIN BUSINESS BUILDING, THE COLLEGE OF

2 22 24

Dean Labh Hira Briefs Alumni News

28 30 36

BUSINESS IS POISED TO

Faculty and Staff News

BUILD ON ITS MOMENTUM

Development Dr. Charles Handy

BY MAKING ANOTHER HUGE INVESTMENT. LEARN ABOUT CAMPAIGN IOWA STATE AND THE PRIORITIES FOR THE COLLEGE OF BUSINESS.

M ESSA GE FR O M THE DEA N

The Power of People

It is about people, and giving them what they need to help us achieve greatness.

Money isn’t everything. Those words, from the dean of a business college, might sound a bit surprising. Certainly, we are no less in need of it than any other institution of higher learning. And we spend a good portion of our time here teaching, directly or indirectly, about money: how to make it, how to invest it, how to squeeze out more of it from a process or shipping route. So why, in an issue of Prospectus which focuses on a fundraising campaign, would I downplay the importance of money? Because money only takes you so far. Without talent, without passion, without brilliant people who know how to best utilize their resources, all that money is wasted. But if you can find those brilliant people—who have the talent and the passion to be the best in their fields—and give them the things they need to do their jobs effectively, truly amazing things happen.

Industries are advanced through consultation and research. Students’ lives are impacted forever by interaction and mentoring. Small departments grow into large colleges that are respected nationwide because people persistently ask, “why not?” Those people are the focus of this campaign. And they are the reason why I love to share our story with as many of our alumni and friends as I possibly can. I hope you enjoy this issue of Prospectus. And I hope you will contribute to the tremendous progress our college—your college—has made. But most importantly, I hope you understand that this campaign is not only about money. It is about people—finding them, keeping them, teaching them, and giving them what they need to help us all achieve greatness. On June 13, the Board of Regents, State of Iowa, approved our plans for a new Ph.D. program in business and technology in the College of Business. This program, which we hope to implement by fall 2009, will prepare individuals for academic careers in research, teaching, and public service. This is a historic milestone for our college, as it makes us a truly comprehensive business program. Our new Ph.D. program is designed to meet some of the unique demands of the marketplace and address a nationwide shortage of qualified business faculty. I am very excited about this next phase in our college’s continued growth. And I look forward to telling you more about it in months to come. ■

Labh S. Hira, Dean

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

THE BUILDING,

BEYOND The Potential for Business at Iowa State

IN A STATE-OF-THE-ART BUILDING, nestled into a campus widely regarded as one of the nation’s most beautiful, resides the college that more Iowa high school graduates choose for their business education than any other. A college that—just 25 short years ago—was not yet even a college, and dared not dream of the spectacular facility it would one day call home. Who knew then of the potential this college possessed? IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

“The next challenge for us is to pay attention to the people in this building. The faculty, staff, and students are who make a program stand out.”

n many ways, the story of Iowa State University’s College of Business is a case study straight out of a business textbook. Visionary leadership meets perseverance meets good old-fashioned hard work. Enrollment has grown, as has the size of the faculty. Graduate programs became an integral part of the college’s offerings. The college earned international accreditation. All of this progress culminated in the most visible symbol of growth to date: the Gerdin Business Building, which opened in 2004. It was a triumph made possible by the generosity of Russell and Ann Gerdin, along with support from additional major donors and thousands of alumni, friends, and corporations. And yet, for all the progress, the work is just beginning. The work, that is, to develop the college into a premier research institution. To make it the long-term home of outstanding faculty. To maintain it as the first choice of highachieving students, undergraduate and graduate alike. This work must take place at a time when public universities nationwide have generally seen declines in state funding. At the same time, tuition and other costs steadily increase the financial burden on students. Market forces, meanwhile, sweep top professors toward lucrative positions at other universities or in the private sector. Who are the best people to support the college’s strategic LABH HIRA goals? College of Business

alumni. They are, after all, trained to understand the dynamics of finance, human resources, competition, and other factors that can be leveraged to secure Iowa State’s place in the business school ranks. They also know the value of a strong education. Now alumni have an ideal opportunity to see the College of Business ascend to the next level of excellence. The public phase of an extended fundraising campaign is furthering the potenDEAN LABH HIRA tial of a relatively young college that has already developed into a success story. The next step in its ascension will require resources, just as the new building did. But this step is not about that which can be seen, or touched. The focus now turns to human potential. With the launch of Campaign Iowa State: With Pride and Purpose, a historic $800 million comprehensive fundraising endeavor is under way, aiming to advance Iowa State University’s role in creating a sustainable and prosperous future for people everywhere. The College of Business has set $42 million as its goal, and much of the funding, the college hopes, will be directed to endowments for faculty and scholarships for students. The choice, of course, lies with the donors. “We have the physical resources in place, so we feel lucky and are in a pretty good position,” said Labh Hira, dean of the college. “I think the next challenge for us is to pay attention to the people in this PAT VICKERMAN building. The faculty, staff, and

CAMPAIGN IOWA STATE: WITH PRIDE AND PURPOSE

July 1, 2003 $800 million $42 million

Campaign launch date: Campaign goal: College of Business goal: Amount raised for College of Business (as of August 31, 2007):

$26 million December 31, 2010

Campaign end date: For more information, contact: Jeremy Galvin, Director of Development (866) 419-6768

jdgalvin@iastate.edu

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

COLLEGE OF BUSINESS CAMPAIGN DEVELOPMENT COMMITTEE This committee will provide leader-

Committee Chair:

ship to the dean and development

Kelley Bergstrom ‘65

Craig Petermeier ’80

President Bergstrom Investment Management, LLC

President and CEO Jacobson Companies

for them. They also help identify orga-

John DeVries ‘59

Bob and Jane ‘85 Sturgeon

nizations and individuals who may be

CEO, Retired Colorfx

Chairman and Owner Senior Vice President, CFO and Treasurer Barr-Nunn Transportation, Inc.

ofﬁcers during the campaign. Committee members help identify campaign priorities and help build momentum

interested and capable of making major campaign gifts. And they assist in securing major gifts through a variety

James ’67 and Ann ’66 Frein

of stewardship opportunities.

President, Retired Hutchinson, Shockley, Erley, & Co.

students are who make a program stand out.” on being a donor-centered As Hira points out, Iowa State has been fortunate to organization that supports the have quality business students and faculty, but those university’s strategic direction. resources cannot be taken for granted in an environment of Jeremy Galvin, director of growth and competition. development in the College “We want to further enhance the role of research in of Business, reaches out to this college and strengthen our commitment to graduate the college and to donors in education,” said Hira. an effort to align philanthropic Private support plays a crucial role in this process. support with the college’s JEREMY GALVIN State funding may keep a university running, but basic priorities. operations are only the framework of higher education, “I’m involved in weekly, and that framework is much the same everywhere. For sometimes daily, strategy meetings with the dean and Iowa State to distinguish itself requires private funding department chairs to understand what their needs are,” directed to specific people and programs. Galvin said. He then tries to match the interests and Pat Vickerman, associate vice president of development expectations of donors to the priorities of the college. at the Iowa State University Foundation and director of The dynamic is a fluid one, but as Hira notes, it is also Campaign Iowa State, calls that distinction Iowa State’s full of possibilities. “margin of excellence.” “We discuss with our donors the priorities of the col“That margin is what excites alums to support us,” lege so they can learn more about our needs,” Hira said. Vickerman said. “We’ve heard from “Ultimately, we hope to match those a number of alums that they feel the needs with the donor’s wishes as much university now is as strong as it has as possible. In the end, it is up to the ever been. There’s a lot of confidence donor to decide where their philanthropic in the direction of the university.” support will go.” Alumni often express that confidence There is a full menu from which to through philanthropy, knowing that they choose. Interdisciplinary work may be new have the collective ability to advance to some areas of academia, but it’s standard the strategic goals of the university or procedure in business. Intertwining and a particular college within it. Matching complementary areas of study result in philanthropy to priorities requires comwell-prepared students, but present the colmunication and awareness. lege with an additional challenge. Vickerman points out that the uni“It’s very difficult for any college of PAT VICKERMAN DIRECTOR versity and its colleges set funding pribusiness to become a quality college CAMPAIGN IOWA STATE orities, while the foundation focuses without having strength in all functional

“Alums feel the university is now as strong as it has ever been. There’s a lot of confidence in the direction of the university.”

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

areas,” Hira said. “We have a and a member of the Dean’s Advisory Council, chairs the very integrated curriculum. As a fundraising campaign committee for the college. The allresult, it’s difficult to elevate our volunteer campaign committee reflects a deep level of stature without elevating all of personal commitment, rooted in an appreciation for the our disciplines.” Iowa State experience, that motivates its members. Doing so through fundraising “I am very grateful for what Iowa State did for me in giving requires a strong alumni base. me a start in my business career,” Bergstrom said, noting his The college is establishing one, ongoing ties to campus and the community. having grown rapidly in the Expressing that gratitude, though, is far more than just 1990s to its position today as an individual exercise. Bergstrom cites his experience with KELLEY BERGSTROM Iowa State’s third-largest college, the real estate and private equity business as the context for awarding one out of every five degrees from Iowa State each fundraising at Iowa State. year. Yet there is more to the demographic picture. “I’m used to doing things with partners and joint ven“Fundraising is really no different than any other tures,” Bergstrom said. “If I put my money up and get others market,” Hira said. “The amount of money you will be able to match me, then we can do even greater things.” to raise depends on two things: the number of prospecA case in point: the Gerdin Business Building. tive donors you have, and the capacity of those prospective “We got the job done with the Gerdin building,” donors—and the capacity to donate is typically correlated Bergstrom said, “and that made the impression on a lot with age.” of us that by leveraging private support, we can get things Can younger alumni still play a role in elevating the accomplished for the College of Business. College of Business and making Campaign Iowa State a “Now we want to help out with faculty and scholarship success? Absolutely, according to the ISU Foundation. support, which we think will greatly enhance the quality “Anyone can participate—there’s a place for everyone and reputation of the college.” in this campaign,” Vickerman said. “When Bergstrom treats his philanthropy as we look back at some of our top donors investments, acknowledging the tangible today, they started out making $5 or $10 and intangible benefits that can accrue gifts 30 years ago. It’s all about cultivating from giving. a relationship.” “I look at giving to universities as Kelley Bergstrom, president of another asset allocation for my portBergstrom Investment Management, LLC, folio,” Bergstrom said. “I like to invest exemplifies the potential of such relationwhere I can see a multiplier effect, and ships. The 1965 industrial administration I’m excited about the opportunity to graduate is now a significant philanthropic provide the right faculty and give stufigure who also contributes his time for dents additional help.” ■ the good of the college. Bergstrom, a governor of the Iowa State University Foundation and former KELLEY BERGSTROM ‘65 CHAIR, COLLEGE OF BUSINESS chair of the foundation board of directors,

“We want to help out with faculty and scholarship support, which we think will greatly enhance the quality and reputation of the college.”

CAMPAIGN DEVELOPMENT COMMITTEE

COLLEGE OF BUSINESS BACKGROUND 1920s

1955

1980

1984

1985

2007

First business courses offered at Iowa State

Department of Industrial Administration established, enrolls 299 undergraduate students

School of Business Administration formed, enrolls 2,242 undergraduate students

College of Business Administration established

MBA program established, enrolls six graduate students

College of Business enrolls 3,333 undergraduate students and 294 graduate students

2009 Confers 20% of degrees awarded from Iowa State

Anticipated launch of Ph.D. program

Iowa State’s third-largest college

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

freedom to

SUCCEED

Mention Iowa State University and most alumni will immediately imagine the familiar symbols of campus: a mix of historic and modern buildings linked by scenic pathways across expanses of green.

For College of Business alumni, the Gerdin Business Building, in the shadow of the Campanile on the edge of central campus, has become one of those symbols. Yet what happens within that building is what really makes the college special. Ideas and innovations flourish. Knowledge and growth are cultivated. Insightful research expands understanding. And the world becomes a better place.

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

ENDOWMENTS SUPPORT THE PEOPLE WHO MAKE THE PLACE At the heart of the college are the faculty, who teach, research, mentor, advise, and lead—daily fulfilling the mission of higher education. Their role is vital, and it is not an easy one to fill. In an ideal world, funding considerations would be the least of their concerns. Yet in the College of Business, faculty face the distinct challenge of carrying a full

teaching load while trying to conduct groundbreaking research. They also strive to provide funding and research opportunities for students. And they experience the same market dynamic that affects any talented employee: the opportunity to advance, which may include moving to another employer. Addressing all of these factors within a state-funded

budget can be daunting, but College of Business Dean Labh Hira recognizes that faculty are his most important resource. He has established faculty development, especially through retention and recruitment, as a top priority in Campaign Iowa State. “Experienced donors understand the importance of people,” Hira said. “Our alumni in the business world understand the importance of having top players on their team.” Endowments made possible by donors are powerful tools for faculty recruitment and retention, yet they are not always as visible or wellunderstood as more traditional fund-raising targets, such as new buildings and equipment. Endowments are not merely salary supplements. Instead, they initiate a cause-and-effect dynamic

Michael Crum

“Our alumni in the business world understand the importance of having top players on their team.” DEAN LABH HIRA

by allowing faculty to deploy an array of teaching and research strategies, all to the benefit of students and the college. Endowments are also valued symbols of prestige and accomplishment. “Just like a person in corporate America going for that year-end bonus as a sign of achievement in their field, professors strive for endowed positions,” said Jeremy Galvin, director of devel-

opment in the College of Business. And just like corporate America, Galvin said, there is competition among schools and private industry for the best people available. The loss of a key professor can have far-reaching effects. “A student told me about a marvelous marketing professor she had, but the professor left for another school,” Galvin said, “and that set the student back. We’re working to make sure our alumni realize the impact that our faculty are having on students.” The professor left, as it turns out, because the competing university offered an endowed faculty position—an offer the College of Business could not match. The episode demonstrates how other institutions are using endowments, and it stresses the importance of increasing the

John and Ruth DeVries Endowed Chair in Business

number of endowed positions at Iowa State. Also important is the role faculty play in enhancing the reputation of the College of Business. Through their research, new ideas are adopted in the business world. When research findings are published, cited, and otherwise featured in the public eye, the college also receives recognition. That’s why top researchers command top salaries and the competition for them is so intense. It’s an ongoing challenge for any dean, and Hira knows that private support is an effective way to find and keep the best. “Endowments are going to play a role in helping us attract those researchers doing cutting-edge research,” Hira said. ■

At Iowa State since 1980

As an associate dean and the beneficiary of an endowed chair position, Michael Crum knows firsthand about the benefits such a position can bring to faculty, including the freedom to conduct research, support students, purchase data, and travel to conferences. “Endowments allow our faculty to create more value,” Crum said. “They free up our time to do the big-impact things. The bottom line for me is that I can be a better faculty member by being a better educator and a better researcher. The endowment helps me to touch more lives.” In turn, students experience the benefits of quality instruction and more numerous research opportunities. “The students understand clearly the importance of faculty to a university and to their education,” Crum said. “But

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW. BUS .I ASTATE .E DU

Paula Morrow

Max S. Wortman, Jr. Professorship At Iowa State since 1978 “Max was also very active in promoting the professional advancement of women,” Morrow said, “so this position is especially meaningful to me. I think Max would be very pleased to see that a woman was the first recipient.” Morrow puts the endowment to work by advancing her research, with benefits accruing to students and the college. “What the endowment really does is allow me to focus on maintaining my research productivity,” she said. “Time is a limited commodity for faculty. This allows me to focus my energy on long-term projects and take on some additional graduate students.” The alternative, Morrow points out, can be explained

For many recipients of endowments, there is far more to the story than simply an infusion of funds. A personal connection is also established. Just ask Paula Morrow, University Professor of management. “The professorship that I hold is a really special one because it is named after one of our former faculty members,” Morrow said of Max Wortman, a beloved professor who passed away unexpectedly in 2005, hours after teaching a course on negotiation and conflict resolution. “He truly was a well-respected, well-known figure in his field.” Wortman also had many “academic grandchildren”— doctoral students who became professors themselves. The endowment resulted from the desire of Wortman’s family to memorialize his role in the college and in shaping the lives of students.

by opportunity cost: without the endowment, her attention would be diverted to taking on summer classes or finding consulting projects. “Quality, cutting-edge research requires big blocks of time, which are hard to come by during the school year,” she said. But with summers free, that time is available, and Morrow has put it to good use. She consistently publishes research results and was recently named the college’s winner of the 2007 Senior Faculty Research Award. Morrow also devotes time to mentoring students in research. Several of her publications also bear the names of students, and some of those students have gone on to earn Ph.D.s, thus perpetuating the spirit of Max Wortman’s legacy.

I don’t think that most of them would think about the

a huge accolade for a faculty member. It really says ‘I’m

need for private funds to be invested in faculty.”

highly respected, I’m valued, and my work is valued.’ That’s

As state funding for universities gradually declines, as it has been across the nation, the investment of those private funds becomes even more crucial.

extremely important.” Educating donors about the importance of named positions has become a priority for many universities.

“We always have faculty who are approached by other

Those efforts are paying dividends: named positions are

universities,” Crum said. “That’s a good sign because it

becoming more prevalent as donors realize the impact

means we have good faculty. But a lot of other schools use

they have on faculty.

endowments to lure faculty away, so we need endowments to retain them.”

significant impact,” Crum said. “And there is visibility that

Beyond the financial benefits, though, is another important quality: prestige. by your college to receive one of these endowments is

■

COLLEGE OF BUSINESS

goes far beyond a name on a placard. When I publish a paper, I put my title on it, and colleagues always ask about

“I think that gets overlooked,” Crum said. “Being selected

IOWA STATE UNIVERSITY

“Endowments have a long-lasting impact, and it’s a

■

PROSPECTUS

the title and the people named in it. As I look out in my field, I see more and more named positions.”

Dermot Hayes

Naming a Faculty Position

Pioneer Hi-Bred International Agribusiness Chair At Iowa State since 1986 With appointments in finance and economics, Dermot Hayes takes a truly businesslike approach to the funding that comes to him through a corporate gift. He solves problems. He increases productivity. He believes in the market. “The chair has allowed me to stay in Ames rather than search for a similar position

There are two types of funding available to naming a faculty position in the College of Business:

Endowment gifts are established to beneﬁt the intended purpose in perpe-

tuity. The ISU Foundation invests

Expendable gifts are outright gifts or pledges that are given by the donor

with the intention that the gifts will

private resources and provides a

be used immediately for the desig-

portion of the annual investment

nated purpose. This type of gift is

return for the intended purpose

placed into an account which does

set forth by the donor. The remain-

not earn interest. Therefore, when

ing investment return is added

the money in the account is fully

to the principal for growth and

dispersed to its designated purpose

protection against inﬂation. The

and the donor has completed his or

portion of the investment return

her pledge, the gift is complete.

provided for the intended purpose

at another university,” Hayes said. “I don’t have to

(i.e. faculty endowment) is cur-

move my family to find the best opportunity because

rently 4.25 percent of the balance

that opportunity is here.”

in the endowed account.

The chair has also created research opportunities and access to people and data in the seed industry. Hayes credits Pioneer Hi-Bred International, Inc., with opening its doors when he seeks an agribusiness insight. “I’ve been able to publish about six papers that would

RECOGNITION

Dean’s Chair

Faculty Chair

Faculty who perform at the highest

$25,000

$300,000

$15,000

institutions and private industry. Faculty chairs are the most esteemed

graduate students.

positions in academia and allow the college to supplement and enhance

“You see these great students who are broke,” he

faculty compensation packages.

said, “and you see grant-related funding opportunities for Professorship

Professorships are highly regarded positions that recognize outstanding

crunch for people like me who try to resolve that problem.

faculty. Similar to faculty chairs, pro-

The students can’t wait three months for a grant proposal

fessorships supplement and enhance

to get funded.”

faculty compensation packages.

Faculty Fellowship

Fellowships are often awarded to young faculty members Iowa State hopes to retain. Through a fellowship,

six students who have gone through that,” he said, “and in

faculty ﬂourish and their professional

every case it worked out well.”

loyalty to Iowa State is nourished by

was directly related to the student’s thesis. “Had I not

$500,000

level are heavily recruited by other

As Hayes points out, there’s often a disconnect in

worked for Hayes on a summer research project that

$75,000

assemble a strong faculty team.

the university environment in terms of support for

One example is a graduate student in accounting who

$1,500,000

recruitment and retention packages to

even more direct benefits from his use of funding as a

until long-term funding can be identified. “I’ve had five or

$150,000

college. It also allows for supplemental

and sales, but graduate students have experienced

funding to create short-term opportunities for students

$3,000,000

funds to launch his or her vision for the

Hayes’ high-profile publishing on seed company profits

Hayes makes sure they don’t. He uses endowment

EXPENDABLE b

It provides the dean with additional

Certainly the College of Business benefits from

these students a year after you’ve met them. There’s a real

A deanship is one of the most visible

ENDOWED

and inﬂuential positions at Iowa State.

have been impossible without that,” he said.

problem-solving tool.

FUNDING REQUIREDa

DEFINITION

providing them with enhanced compensation packages or professional development opportunities through the named faculty position.

been able to fund her,” he said, “she would have had to get a summer job, and she wouldn’t have been able to work on her thesis.”

a. All gifts received by the ISU Foundation are assessed a gift fee of five percent, which recovers the costs associated with fundraising at Iowa State University. b. These figures represent annual minimums for expendable named faculty positions, which require a commitment of three to five years. VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

Sue Ravenscroft

Roger P. Murphy Professorship in Accounting

At Iowa State since 1998

Endowments give options to

a Ph.D. student on developing communication skills for

faculty, and professor of accounting

a governmental nonprofit accounting course. The idea of

Sue Ravenscroft has chosen one

expanding that approach collegewide arose at about the

that addresses a perceived need in

same time that the Murphy professorship was awarded.

the college.

“The publicity attached to that was a springboard that

Ravenscroft allocates funds to

allowed me to talk about the communications center,”

support her conviction that a com-

Ravenscroft said. As a result, the idea has gained sup-

munications center would be an

port, and today two graduate students are developing

asset to the College of Business.

writing assignments and presentations that can be used

“Accountants in corporations

by business faculty.

spend a lot of time talking to non-accountants, so commu-

The center itself is still just a concept, but Ravenscroft

nicating clearly is crucial,” Ravenscroft said. “It’s tempting

encourages potential donors to consider an endowment as

as a professor to worry just about the technical material,

a way to express personal interests. After all, she notes, the

but I think people understand the technical better if they

Murphy professorship is based on the support of under-

know it well enough to communicate it clearly. To com-

graduate education, so that’s where she focuses her energy.

municate clearly, you have to think clearly.” Ravenscroft traces her passion for a communication center to a serendipitous moment. As the beneficiary of a Miller Faculty Fellowship, she had been working with

By advocating for a communications center, “I’m just narrowing that down a bit,” Ravenscroft said. “You can promote whatever you believe in by giving an endowed professorship.”

COLLEGE OF BUSINESS FACULTY CHAIRS, PROFESSORSHIPS, AND FELLOWSHIPS NAMED POSITION

FACULTY HOLDER

Accenture Faculty Fellowship

Anthony Townsend, associate professor of MIS

Bob and Kay Smith Entrepreneurship Fellowship

Howard Van Auken, professor of management

Dean’s Faculty Fellowship in Management Information Systems

Dan Zhu, associate professor of MIS

Dean’s Faculty Fellowship in Marketing

Stephen Kim, associate professor of marketing

Dean’s Professorship in Finance

Richard Carter, professor of ﬁnance

Dean’s Professorship in Finance

Frederick Dark, associate professor of ﬁnance

Eucher Faculty Fellowship in Business

C. Bradley Shrader, University Professor of management

Heggen Faculty Fellowship

Russell Laczniak, professor of marketing

Heggen Faculty Fellowship

Sridhar Ramaswami, professor of marketing

Heggen Faculty Fellowship

Roy Teas, Distinguished Professor of marketing

Iowa Bankers Association Fellowship

Roger Stover, professor of ﬁnance

Jacobson Companies Faculty Fellowship

Richard Poist, chair, department of logstics, operations, and MIS; professor of logistics and supply chain management

Jacobson Companies Fellowship

Yoshinori Suzuki, associate professor of logistics and supply chain management

John and Ruth DeVries Endowed Chair in Business

Michael Crum, associate dean and professor of logistics and supply chain management

Mark and Pam Fisher Faculty Fellowship in Business

Marvin Bouillon, chair, departments of accounting and ﬁnance; associate professor of accounting

Max S. Wortman, Jr. Professorship

Paula Morrow, University Professor of management

Pioneer Hi-Bred International Agribusiness Endowment Chair

Dermot Hayes, professor of ﬁnance and economics

Principal Financial Group Fellowship in Finance

Mark Power, University Professor of ﬁnance

Roger P. Murphy Professorship in Accounting

Sue Ravenscroft, professor of accounting

Union Paciﬁc Professorship for Information Systems

G. Premkumar, professor of MIS

Union Paciﬁc/Charles B. Handy Professorship

William Dilla, associate professor of accounting

Wells Fargo Professorship in Finance

Arnold Cowan, professor of ﬁnance

William and Elizabeth Goodwin Fellowship

James McElroy, University Professor of management

William and Elizabeth Goodwin Fellowship

James Werbel, professor of management

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

Scholarships play an important role in helping today’s students make the most of their college years. For some, a scholarship means the opportunity to study abroad; for others, it reduces the number of hours a student has to work at a job, thus freeing up time for study or participation in club activities.

LAUNCHING

But make no mistake: scholarships are no longer a luxury. The same cutbacks that have pinched budgets throughout Iowa State University have also forced steep tuition hikes.

T OM OR R O W ’S

LEADERS SCHOLARSHIPS CREATE STUDENTS WHO FLOURISH

n the last 10 academic years, resident tuition is up 101 percent and nonresident tuition is up 80 percent. For the last two years, Iowa State University has ranked second in the nation among public institutions in highest debt loads among its graduates, according to data from U.S.News & World Report. Nearly 12

70 percent of Iowa State graduates are leaving Ames with loan balances creeping ever-closer to $30,000 each. The College of Business is committed to changing that, which is why student scholarship support has been identified as one of its key priorities in Campaign Iowa State. The college seeks to raise

an additional $7.5 million for ongoing student scholarship support as part of its $42 million campaign goal. Depending on available funds, the college awards scholarships ranging from $300 to $5,000 to approximately 140 students each year. Here are the stories of four beneficiaries.

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

“With the scholarship support and loans, I have not had to get a job. That has allowed me to participate in activities that have enriched my college experience.” MICHAEL HOTZ

Michael Hotz Senior Agricultural Business, Finance, and Economics

Michael Hotz and Iowa State seem like a natural match. A 2004 graduate of Lone Tree Community High School, Hotz grew up on an Iowa farm and knew he wanted to study agriculture and business—and his dad was an Iowa State alum. But when Hotz was deciding what college to attend, he considered many schools before choosing Iowa State. “I wanted to make sure this was the right choice for me,” says the senior in agricultural business, finance, and economics. “The program and the atmosphere drew me here.” Hotz has been able to participate in a wide variety of activities thanks to university and college scholarships. The College of Business awarded him the Swift Company Scholarship his junior and senior years and also a scholarship to support a study-abroad semester. “Over half of my tuition costs have been covered by scholarships,” says Hotz, who is paying for his own education. “I am conservative when it comes to money, but with the scholarship support and loans, I have not had to get a job. That has helped me study better and allowed me to participate in activities that have enriched my college experience.” He has served on the College of Business Student Council and Ag IOWA STATE UNIVERSITY

■

COLLE G E OF B USINE SS

■

Career Day Committee, and he is a member of the entrepreneur and finance clubs. His involvement has led to personal and professional growth as well as a strong network of friends and contacts. Studying abroad tops Hotz’s list of activities that have enhanced his education. He spent spring 2006 studying at Swansea University in Wales. While in Europe, he traveled to France, Germany, Ireland, the Netherlands, Norway, Scotland, and Switzerland, immersing himself in the local cultures. “My friends teased me because I was always striking up conversations with strangers,” he says. “I wanted to learn from them so I asked lots of questions. It was truly a worldbroadening experience.” Hotz has been equally inquisitive in his internship searches. He has used his interviews to gather information about agriculturerelated industries and the job opportunities in them. This dis-

P RO SP EC T US

covery process has led him to two very different internships. Zen-Noh Grain Corporation, a Japanese grain export business in Louisiana, hired him as a merchandising intern in summer 2006. It is the smallest of the five U.S. export grain companies, according to Hotz. “My exposure to business operations was unbelievable,” he says. “I got to talk to the upper-level managers. They are visionaries, focused on the future, not just the day-today business. They wanted me to see how things worked.” This past summer, Hotz interned as a financial analyst with the Renewable Energy Group in Ralston, Iowa. “I loved the grain merchandising work last year,” he says, “but with all of the emphasis today on alternative fuels, it is a very exciting time to work for a biodiesel company.” Hotz’s top priority now is to find the right company and the right job for when he graduates next May.

Brittney Schmidt Senior Marketing, Journalism, Philosophy

Becoming a legacy student at ISU was nearly a distant memory when Minnesota State University offered Brittney Schmidt their Presidential Scholarship. A full-ride scholarship would significantly reduce the financial strain for Schmidt, who was committed to splitting the cost of her college education with her parents. Fortunately the Garner, Iowa, native did not give up. “I was already familiar with campus because I had visited here countless times for camps, 4-H activities, and Girls’ State,” Schmidt says, “but finding out about the programs and opportunities in the College of Business solidified my desire to come here. Plus, we have a family tradition; nine relatives, including my dad and sister, are all alumni.” Schmidt explained her quandary to Ann Coppernoll, director 14

of undergraduate programs for the College of Business, who suggested she fill out the undergraduate scholarship application. The college then awarded Schmidt the Mark and Julie Blake Undergraduate Business Scholarship. While the Blake scholarship, combined with a variety of other scholarships, has covered Schmidt’s tuition costs, the senior marketing major benefited in other ways too. “Developing a personal relationship with the Blakes got me interested in working with donors and seeing how the development process works,” says Schmidt, one of 25 student volunteers with the Iowa State University Foundation. “We help host alumni and donors at tailgates and football games, building dedications, and campus activities; we also help with the two black-tie events of the year, Order of the Knoll and the Distinguished Awards Ceremony.”

making the College of Business possible for students,” she explains. “A lot of students don’t know anything about our donors. I hope to increase awareness among students, faculty, and staff about our donors and their importance to the College of Business and our education.” She will continue this internship through the fall semester. Schmidt’s development work is just one portion of her activities. As vice president of the Business Council, which oversees all of the college clubs, she helps organize special activities for VEISHEA, homecoming, family weekend, and other events throughout the year. For her freshman Honors project, Schmidt worked with mentor Darin Wohlgemuth in the Iowa State Admissions Office and surveyed freshmen to determine how a student’s high school and family background affected their

“I hope to increase awareness about our donors and their importance to the College of Business and our education.” BRITTNEY SCHMIDT

This past year, Schmidt interned in the dean’s office of the College of Business, working to support the college’s development efforts. Her main project was to revise how donors are acknowledged, but she has another goal. “I have been able to see all of the effort that goes into

college search process. Now for her senior project, Schmidt will add another dimension—senior GPA—to the original research to determine how background affects a student’s success in college. While Schmidt has had a range of experiences on campus, intern-

VO LUME 23 N UMB ER 2

■

FA LL 2007

■

WWW.BUS .I AS TATE .E DU

“I don’t want my loan payments to mean I have to continue to live like a student once I am out of college.” KATIE LORBER

ships have given her exposure to marketing practices in two very different industries. In summer 2006, she interned at Caterpillar in Peoria, Illinois, where she did marketing for the North American Commercial Division. This past summer, Schmidt interned in the Communications Department at Lands’ End headquarters in Dodgeville, Wisconsin, where she gained experience in event planning, graphic design, and advertising, as well as learning how the company sells merchandise through four unique marketing channels. Before graduating in May 2008, Schmidt will add one final item to her list of experiences. She plans to study in Ireland next spring as part of the Regents’ Study Abroad Program. This unique opportunity is financially feasible due to the scholarships she received during her first three years at Iowa State.

Katie Lorber

Now a junior, Lorber is paying half of her college expenses herself with scholarships, loans, and the income she receives from a job with Clem Insurance Company in Ames. While she received scholarships from a variety of sources her first year, most were nonrenewable. For 2007–2008, she received a College of Business marketing scholarship. “I was really excited to receive the scholarship,” she says. “It reduces the amount of loans I have to get. I am working hard to keep my debt as low as possible. I don’t want my loan payments to mean I have to continue to live like a student once I am out of college.” Although her classes and her job keep her busy, Lorber is involved in a range of other activities that are helping her develop skills applicable to a marketing career. For example, she has been an ambassador to the career fair sponsored by the Colleges of Business and Liberal Arts and Sciences,

interacting with company representatives to ensure the fair goes smoothly; a Destination Iowa State team leader, helping new students get acclimated to campus prior to the start of classes; and a Business Council peer adviser, assisting students in the registration process. This fall, Lorber began a new assignment as a member of the Cyclone Alley central committee. Cyclone Alley is a student spirit group for Iowa State men’s and women’s basketball. “We promote participation and attendance at games through our Web site and e-mail,” says Lorber. “It is primarily for basketball, but we promote attendance at one event for each of the other varsity sports too. We also organize road trips and other special activities.” Lorber’s involvement with these different groups has introduced her to other opportunities as well. Several of her friends from Business Council studied in Spain this past

Junior Marketing

When Katie Lorber enrolled at Iowa State in fall 2005, it represented a big change in her life. She grew up in New London, Iowa, a town of less than 2,000 residents, about half the number of freshmen entering Iowa State each year. Knowing she wanted to major in marketing, Lorber visited Iowa State to check out the College of Business. “I fell in love with the campus,” she says. “Iowa State is a big school with lots of opportunities, but it has a small-town feel and that is what I liked.” IOWA STATE UNIVERSITY

■

COLLEG E OF B USINE SS

■

PR O SPE CT US

“My goal was to take the club to a new level. Being involved will help students be successful.” KOFI ODOOM

summer, and she hopes to study there next summer. “They said it is an amazing experience,” she says. “The business world is so globalized, I think it is really important to immerse myself in another culture and see how other people live.”

the couple’s three-year-old son, Joshua, in Ames. To help support his family, Odoom works 20 hours a week for the Department of Public Safety on campus. He writes parking tickets, a job that can be stressful.

Kofi Odoom Graduate Student Accounting

When Kofi Odoom talks about balancing school, family, and work, a spreadsheet might prove a useful tool. One wonders how he manages to find time for the many priorities in his life. A native of Ghana, West Africa, Odoom came to Iowa in 1997 to attend Luther College. He earned a B.A. in management and then accepted a job with GEICO Insurance in Coralville. With a long-term goal of returning to Ghana as an entrepreneur who starts and sells companies, Odoom decided to study finance so he could work with risk adjustment and forecast. He moved his family to Ames and enrolled at Iowa State in fall 2005. Odoom, who is 30, completed coursework for his B.S. in finance and is now working on a master’s in accounting. While he has always made balancing family and school a priority, Odoom has taken on new parenting responsibilities this fall. His wife is living in New York where she is a firstyear dental student at Columbia University, and Odoom cares for

“I can feel the love in the air,” he laughs. “One girl asked if I get paid on commission. I don’t.” Odoom is also interim pastor at the Assembly of God Church in Oelwein. “I have been preaching since I was in high school,” Odoom says. “It helps me keep my ethics and morality straight.” Even with his full schedule, Odoom makes time to help his classmates. As president of the finance club last year, he arranged for the proceeds from the investment challenge competition to

be used as scholarships to the University Book Store. This year, he is working with GEICO, his former employer, to set up an accounting scholarship. Odoom says he is driven by the desire to make a difference. “Nationally, Iowa State student debt ranks quite high,” he explains. “I want to help students deal with college finances.” In addition though, he is intent on honing his leadership skills. “My goal was to take the club to a new level,” he explains. “The scholarships are one way that has happened, but we also got more students involved, increasing the membership from around 40 to more than 80. Being involved will help students be successful.” For his own expenses, scholarships from the Iowa State International Students and Scholars Office and the College of Business have covered about two-thirds of Odoom’s tuition. Student loans and work help pay the rest. When he completes his master’s next spring, Odoom wants to work in the portfolio management investment division of AEGON, a worldwide life insurance and pension company. Because of his international status, Odoom needs an employer who will do the paperwork that will allow him to stay in the United States a few more years. He interned with AEGON in Cedar Rapids last fall, and says the company is interested in hiring him. ■

VOLUME 23 NU MBER 2

■

FALL 2007

■

WWW.BUS .IAS TAT E. EDU

Stories All Their Own

Why Business Alums Support Their College

The list reads like a who’s who of business: John DeVries, retired owner and CEO, Colorfx, Inc.; Ralph Eucher, president, Principal Funds, the Principal Financial Group; Mark Fisher, president, United Community Bank in Milford; Cara Heiden, division president, Wells

“We believe education changes lives. Not just individuals, but entire families and society.” John DeVries

Fargo Home Mortgage; Julie Middleswart, audit partner, Ernst and Young; and Ruby Trice, business executive, National GeospatialIntelligence Agency. Yet all of these individuals have a common interest—helping Iowa State University’s College of Business be the best college it can be. All are Iowa State alumni, but beyond that shared experience, their stories about giving back to the college are as unique as the individuals themselves.

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

John DeVries has the longest history with the college. He earned his industrial administration degree in 1959. His first job was in Cedar Rapids, but after working on his MBA at the University of Iowa, he moved to Des Moines. The proximity to Ames made the decision to help his undergraduate alma mater an easy one. His involvement began in the early 1970s when Chuck Handy, head of industrial administration, began hosting

receptions to gather support for the rapidly growing department. Owner and CEO of Colorfx from 1979 until August 2007, DeVries has been a strong advocate and leader for the department and the college since those first meetings. He has done everything from calling on businesses to ask for support, to helping establish the Founders’ Club and serving as its chair, to serving on the Dean’s Advisory Council, to leading development campaigns.

One of the early highlights for DeVries occurred in 1984, the year the college was officially established. “Pioneer Hi-Bred International donated the funds for our first endowed chair,” he recalls. “It was proof of the support and credibility we had achieved.” DeVries’ motivation for staying so involved during the last 30 years has come from the continuous progress he has witnessed. He credits this suc-

viduals, but entire families and society. We established this chair to support faculty. Strong faculty are the basis for building outstanding programs that attract outstanding students.” DeVries’ commitment to education is reflected in his service to the university as well. He has served as an Iowa State University Foundation Governor since 1984 and was chair of the Foundation Board of Directors from 1993 to 1995.

“Our hope is it will enhance the opportunities for students throughout the college.” Ralph Eucher

cess to Handy’s vision—always be better next year than you were last year. “I have worked with all of the deans—Handy, David Schrock, Ben Allen, and now Labh Hira—and each one has wrapped his arms around this vision and kept it alive,” he says. In support of that vision, DeVries and his wife, Ruth, established the DeVries Endowed Chair in Business in 2000 to honor and recognize an administrator or faculty member who has demonstrated exemplary service to the college. “We believe education changes lives,” he says, “not just indi-

Ralph Eucher began his association with the College of Business when Principal Financial Group agreed to sponsor a welcome event and diversity training session for new MBA students each year. It was his first contact with Iowa State’s business program since earning his M.S. in industrial relations in 1976, but it has led to ongoing interaction, and his leadership is helping increase the focus on business ethics for students. Eucher’s interest reflects a diverse career that began with a job at 3M while he was an Iowa State undergraduate majoring

in political science. His studies and work experiences inspired his interest in human resources and labor relations, which led to his master’s studies. He went on to earn a law degree at the University of Iowa. After five years as a real estate and corporate lawyer in Muscatine, Eucher moved to Des Moines in 1984 to join General Growth Properties, a shopping mall real estate investment firm, as in-house counsel. He later became president and led the company through a major expansion and relocation to Minneapolis. In 1994, Eucher returned to Des Moines to join the asset management arm of Principal Financial Group. He was named president and CEO of Principal Funds in 1999. With his interest in ethics, Eucher has been working with Brad Schrader, University Professor of management, who teaches corporate ethics and governance. Shrader is

also the first recipient of the Ralph and Jean Eucher Faculty Fellowship in Business, created by Eucher and his wife to help raise the profile of ethics in the curriculum. “You don’t have to look any further than Enron or WorldCom, to know that ethics is a real issue today,” Eucher says. “An employee may be asked to do something that doesn’t add up. We want students to develop the framework and the confidence so that when faced with an issue they keep asking questions until it does make sense, even if that means taking the issue to an audit committee.” The new fellowship may support such things as a special lecture series or graduate research on ethics. “Our hope is it will enhance the opportunities for students throughout the college to learn about ethics and think about how business ethics will come to play in their careers,” Eucher adds.

COLLEGE OF BUSINESS ALUMNI GIVING STATISTICS Living College of Business alumni

25,675

Living College of Business alumni in Iowa

11,797 (46%)

Living College of Business alumni in states bordering Iowa

5,738 (22%)

Average age of College of Business alumni

Average age of College of Business donor

College of Business alumni who made a gift to Iowa State in 2006-2007

3,239 (13%)

College of Business alumni who made a gift to the College of Business in 2006-2007

1,148 (4.5%)

Average gift to the College of Business

$1,001

Median gift to the College of Business

$100

Total fundraising production during 2006-2007

$12,434,104

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

ship so she can see the cause College of Business was young advanced. The Iowa State and growing, and it was an University College of Business exciting opportunity to help “As an alum, you feel is one of her causes. craft the future,” she says. good about your A 1978 industrial adminis“As alumni and employers, school when it has a tration graduate with options we want to help ensure that in accounting and finance, Iowa State produces the great reputation.” Heiden says her education has highest quality of graduates,” Mark Fisher been key to her success. The Heiden says. “We provided division president for Wells input on planning for the new Fargo Home Mortgage, Heiden building, using our experience made an unrestricted donation as students—even though for to long-term success,” says A 1976 industrial toward the Roger P. Murphy some of us that was a long Fisher, who is president of administration graduate with Professorship in Accounting. time ago—and from what hapemphasis in accounting, Mark United Community Bank Her financial support for the pens in the day-to-day corpoin Milford. “I attribute my Fisher began his career with accomplishments to my educa- college is continually directed rate world to create the most the accounting firm Wolf and tion at Iowa State, and hearing to retaining and recruiting the effective learning environment. Company in Des Moines. “We also give feedback on Fisher has supported the Iowa Adam speak highly of his pro- very best professors. “The impact that a prowhat competencies we look for fessors and the excellent eduState College of Business and the athletic department for the cation he received encouraged fessor can have on your life is in recruits. I am proud to say,” nothing short of profound,” she adds, “that Wells Fargo is past 30 years while residing in us to support the faculty.” Heiden says. “My professors the number one hiring corpoBoth Mark and Pamela the Iowa Great Lakes area. took a personal interest in me ration for Iowa State College of Fisher have served terms on Although his wife, Pamela, Business graduates.” their local school board. Their and helped me achieve my earned her accounting degree goals. Along with encouraging Heiden has been active experiences gave them insight at the University of Wyoming, on educational funding issues my intellectual curiosity, they with the Iowa State University she shares Fisher’s loyalty. In made certain I had options Foundation and served as addition, both of their sons are and recognition that the uniand access to many different chair of the Board of Directors versities need substantial priCollege of Business alumni. professional opportunities.” for 2005–2007. In this role, vate support. Paul is a 2005 management Heiden’s leadership role the focus has been to advance “We want the College of information systems graduate with the college extends back the mission of Iowa State Business to continue building and is now attending chirothrough fundraising. on its outstanding reputation,” to the mid-1990s when Dean practic school in Chicago, Ben Allen asked her to serve Fisher says. “As an alum, you and Adam, a 2007 graduate on the advisory council. “The feel good about your school with degrees in accounting when it has a great reputation. and management information Our hope is that our support systems, works for Ernst and “As alumni and will help the college continue Young in Des Moines. employers, we want to attract and retain top proWhile the Fishers have fessors so it can continue to be been steady contributors to to help ensure that an outstanding school.” the College of Business, they Iowa State produces recently created the Mark and the highest quality of When Cara Heiden is Pamela Fisher Fellowship to passionate about something, support a professor in the graduates.” she contributes financially and accounting department. Cara Heiden she gets involved in leader“Education is the key

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

“I tell prospective students that college gives you the opportunity to make friends with people who aren’t like you.” Ruby Trice

Ruby Trice, a 1987 graduate in management, gives back to the college in three ways. She contributes to scholarships, serves as an Iowa State ambassador, and is an alumni association board member. The youngest of seven children, Trice grew up in St. Louis, Missouri. “We weren’t in the best situation financially,” she says, “and I give back because I know there are other kids like me who want a chance to make a difference. Iowa State gave me my chance.” Trice received need-based aid to support her education. Trice, who began working for the Department of Defense (DoD) in a fellowship program in 1983, is now a business executive with the National Geospatial-Intelligence Agency, a DoD support agency. She became an Iowa State ambassador in 1992 and has recruited students both in St. Louis and in Maryland where she lived for eight years. In this role, she attends education fairs sharing her experiences as a minority student from a big city who went to Iowa State.

“I formed some really strong bonds with people I met at Iowa State—black and white, Iowans and non Iowans, rural and urban,” she says. “I tell prospective students that college gives you the opportunity to make friends with people who aren’t like you. It will help you embrace all of the different people you will encounter in the workplace.” As an alumni association board member, Trice attends regular meetings in Ames. It is an opportunity to network and provide input, and it also allows her husband and two children to visit campus. “My daughter is quite excited to know that George Washington Carver went to the same school I did,” Trice says. “I just emphasize we were not here at the same time.”

Julie Middleswart, of Indianola, also makes regular trips to Ames. A 1991 accounting graduate, she serves on the advisory board for the accounting department and is an advisor for her sorority, Kappa Alpha Theta.

Middleswart, an audit partner with Ernst and Young in Des Moines, says the motivation for being involved with the college is helping it to get better. “As successful professionals coming in, we provide a sounding board,” Middleswart says. “And, we use our individual experiences in industry to provide a perspective that helps the department come up with new approaches to addressing challenges and moving forward.” Serving on the board also has rewards. It helps Middleswart stay in touch with what is happening in the college today. “Last spring we had a professor come and talk about Second Life. It is a virtual environment he uses to teach class. I had no idea it even existed,” she says. “Also, I have gotten to know many people from industry and the college. Helping the college is a way to be connected beyond my work environment.” Middleswart has also gained new insight regarding college funding issues and the need

to raise money for faculty and scholarship support. While she contributes regularly to the college, she is organizing an effort to reach out to Iowa State alumni, working at Ernst and Young offices around the world, to establish a scholarship fund. Her work with the sorority has made Middleswart especially conscious of the struggles for students. “When I was in school, it seemed people got jobs because they wanted a little extra spending money,” she explains. “These girls are working so hard at jobs, keeping their grades up, and staying involved. I really admire all that they are doing.” Middleswart has a busy schedule as well. In addition to her job and volunteer activities at Iowa State, she and her husband have a three-year-old son, Alex, and infant daughter, Anna Catherine, born May 30. ■

“Helping the college is a way to be connected beyond my work environment.” Julie Middleswart

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

THE TWO

MOST IMPORTANT WORDS IN FUNDRAISING As you can clearly see, Campaign Iowa State: With Pride and Purpose is an important initiative for the future of the College of Business. This campaign will create new research and educational opportunities, transform existing ones, and provide a reliable and flexible source of funding for years to come. We have some ambitious campaign goals to achieve, and we have much work to do in the next four years to meet them. And while it is critical we think ahead to what the future holds, we should also pause for a moment and pay tribute to those who have brought us this far. So although our journey is far from complete, I want to stop and say something very important.

THANK YOU. Thank you to our alumni, friends, and volunteers, who give of your time, talents, and resources to keep building upon the success we’ve achieved in this college. Thank you to our students and parents, who trust us to provide an education that will alter the futures of thousands of young people, and who are our greatest ambassadors to future Iowa Staters in their own families and communities. Thank you to our faculty and staff, who work tirelessly to make the student experience in the College of Business the best it can be. Thank you to our corporate partners, who hire our students, support our programs, and seek out our faculty for expertise. Thank you to our campaign committee, profiled on page five. This

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

important volunteer committee has committed its guidance, enthusiasm, and passion to the College of Business. They have all made leadership gifts to support the campaign. And thank you to all of our donors, especially those who made a gift in our most recent fundraising year (see pages 31-35). The College of Business experienced an incredible 2006-2007: thanks to the support of 1,695 donors, we raised nearly $12.5 million, easily surpassing our goal of $6 million for the year. This success is especially impressive considering the challenges our college faces when it comes to raising money. The college’s young age—less than 25 years old, with business programs at Iowa State having been

“We should pause for a moment and pay tribute to those who have brought us this far.”

JEREMY GALVIN

around for a shorter time than many of its peers—means that our alumni base is also young, with an average age of only 46 years old. So considering those things, the $42 million campaign goal that the College of Business has set is cer-

JEREMY GALVIN tainly a stretch goal. Yet at the same time, it is one we feel confident we can achieve. And we are on track so far, having raised over $26 million. Campaign Iowa State: With Pride and Purpose provides an opportunity for everyone to become involved. Regardless of your affiliation to the College of Business or your age, you can make an impact on the future of this college. More importantly, every gift—every gift—matters. The College of Business is poised to build on our momentum and provide enhanced opportunities for our students and faculty. I hope that you will help us elevate the college to the highest levels of success. ■ Jeremy Galvin is the director of development for the College of Business. Contact him toll-free at 866 419-6768 or by e-mail at jdgalvin@iastate.edu.

B R I EFS

MBA Team Takes Second at Supply Chain Competition MBA case competition teams from the College of Business had a banner year in 2006-2007. On February 17, Iowa State’s

“The judges were very complementary on their presentation and we hope to build on this success.” —RHONDA LUMMUS

Richardson, Fairfield, Iowa. Finishing so highly was encouraging to the students. “Our team was very pleased with the results,” said Richardson. “It was the first time Iowa State was invited to the event. And some of the schools present MBA case team was chosen as one of the two best are ranked in the top 10 nationally.” teams in the Big 12 North and was sent to the The first place team was Darmstadt University “Final Four” round of the inaugural Big 12 MBA of Technology from Germany. According to Case Competition in Norman, Oklahoma Richardson, representatives from several companies in March. were also at the competition One week later, another MBA giving contestants a chance to case team placed second in network with industry leaders. the FedEx Freight International The team’s faculty advisor, Graduate Logistics Case CompRhonda Lummus, an associate etition held at the University of professor of operations and Arkansas February 22-24. supply chain management in the Teams of MBA students from College of Business, knows how MEMBERS OF THE IOWA STATE TEAM, LEFT TO RIGHT: 12 United States and European hard the team members have RHONDA LUMMUS, ASSOCIATE PROFESSOR OF LOGISuniversities played roles of worked to get where they are. TICS AND SUPPLY CHAIN MANAGEMENT; THARANGI supply chain business consul“This team used its analytic RANASINGHE; DOUG STOUT; JASON BEICHLEY; BROOK tants for a major firm. The teams RICHARDSON; JONATHAN GREENLEE; MONICA KAK; and presentation skills, built were given 24 hours to analyze a AND BOBBY MARTENS, ASSISTANT PROFESSOR OF through their MBA curriculum, LOGISTICS AND SUPPLY CHAIN MANAGEMENT. situation. Then each team made a to do an outstanding job at the presentation to the judges who were role playing as competition,” Lummus said. “The judges were very the company’s board of directors. The judges were complementary on their presentation and we hope upper-level managers and executives from compato build on this success by returning next year.” nies that assist in sponsoring the event. Lummus praised the team’s preparation prior to The case study centered on new product the event, arranging mock run-throughs based on launches from DuPont, the multinational chemiother supply chain management cases and closely cals and health-care company. Students had to studying the rules of the competition. make recommendations on which products to Other competing schools included: Arizona State launch, based on a comprehensive view of the University, Michigan State University, The Ohio company’s capabilities—especially those of its State University, Pennsylvania State University, Texas supply chain—and operating environment. Christian University, the University of Arkansas, the The Iowa State team included Tharangi University of Maryland, the University of Minnesota, Ranasinghe, Pannipitiya, Sri Lanka; Monica the University of Wisconsin-Madison, and Chalmers Kak, New Delhi, India; Doug Stout, Waukee, University of Technology of Gothenburg, Sweden. ■ Iowa; Jason Beichley, Waukee, Iowa; Jonathan Greenlee, Davenport, Iowa; and Brook

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

Business Economics Major New for 2007 The disciplines of business and economics are, in many ways, fundamentally linked. Where business studies the

rience in business or economics led to students taking courses out of sequence and entering upperlevel classes unprepared by the proper prerequisites. “If students are taking senior-level coursework without the necessary preparation,” said Palan, “then they aren’t getting all they can out of the class.” organizations and functions that deliver goods Another issue the new major hopes to solve and services to customers, economics studies is adequate recognition of each discipline on a those goods and services with respect to graduate’s transcripts. Currently the transcripts production, distribution, and consumption, of students graduating from the College and the choices we make about how to best of Business show the business degree utilize the resources we have. only, without adequately reflecting the Certainly there is significant overlap in cross-disciplinary education they receive the two fields, and at many institutions of in economics. higher education—including many of Iowa “The alternatives we had prior to State’s peer institutions—the economics the business economics major were not KAY PALAN department is actually a part of the College working,” said Ann Coppernoll, director of of Business. Undergraduate Programs in the College of Not so at Iowa State, where the Business. She also pointed out the career Department of Economics is housed in the benefits to students of this major. “The busiCollege of Liberal Arts and Sciences. But ness economics major offers a wide range many of Iowa State’s business majors still of career prospects to students. The major seek a stronger background in economics, will be beneficial to those seeking positions ANN COPPERNOLL and economics majors often look for addiin government, law, or entrepreneurship, tional business instruction. finance, research, and public- or private-sector leadTo meet that need, the College of Business and ership, among other options. the Department of Economics have partnered to “Not only does this solve our curriculum probintroduce a business economics major, available to lems,” said Coppernoll, “but we think it presents students beginning in the fall 2007 semester. some attractive career options as well.” “The business economics major was designed The new major will be the ninth undergraduate to fill a gap in the curriculum,” said Kay Palan, major offered in the College of Business. Currently associate dean of undergraduate programs for the students can major in accounting, finance, logistics College of Business. “Previously, students who and supply chain management, management, manwanted coursework in both business and ecoagement information systems, marketing, operations nomics had to major in one discipline and add and supply chain management. An international electives of the other discipline. This approach business major is also offered, but must be taken caused some problems.” in conjunction with another major. One issue that the new major will help solve is The College of Business estimates that there preparation for upper-level coursework. The less will be approximately 60 business economics structured approach of using electives to gain expemajors by 2010. ■ IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

“Previously, students who wanted coursework in both business and economics had to major in one discipline and add electives of the other discipline. This approach caused some problems.” —KAY PALAN

A LUM NI NEWS

CLASS NOTES 1940s

and execution of a successful launch of the Roger Clemens Institute for Sports Medicine and Human Performance at Memorial Hermann. Craig Hertel (’92 MBA) is employed in Extension at Iowa State University in

Colleen (Hanna) Huffman (’85 General

Jefferson, Iowa.

Jack (John) Larsen (’48 Industrial Ad-

Business) is the operations direc-

ministration) retired from a manage-

tor at the School of Management at

Dana Kevish (’92 Marketing) is the

ment professorship at the University

George Fox University. She serves

eCommerce marketing manager at

of Tennessee in 1987 and closed his

as the assistant to the dean of the

Ace Hardware Corporation in Oak

small consulting business a couple of

school. Colleen has been accepted

Brook, Illinois. Her primary respon-

years ago. Jack and his wife, Suzy, are

into the Professional MBA program at

sibilities are the strategy, day-to-day

enjoying their retirement.

George Fox University and will begin

operations and overall management of

coursework this fall.

acehardware.com. Dana began work-

1970s

ing with Ace Hardware in 1995 in the

James Michael (Mike) Maggert

Michael Holtzbauer (’86 Manage-

(’79 Industrial Administration) has

ment) has been with the Meat Labo-

recently accepted the position of chief

ratory at Iowa State University for 20

Teri Hoeft (’94 Transportation and

accounting ofﬁcer for Alpha Services,

years. His duties include irradiator

Logistics) is employed at Exel

International Quality Homecare and

operator, meat processing specialist,

Transportation Services, Inc., and

Omega Services. Additionally, he has

purchasing agent, safety coordinator

supports a network of 78 agencies in

been assigned the responsibilities of

and working with personnel. Michael

North America managing contracts,

director of sales and marketing and

gives lectures to students and indus-

capacity needs and requests for over

CAO for HomeKeepers International

try on food irradiation and applica-

14,000 motor carriers. Exel/DHL is the

Franchising, LLC. James’ daughter will

tions and has been a lab assistant to

second largest employer in the world

be attending Iowa State University in

a professor in meat science.

behind Wal-Mart.

family members to attend Iowa State

Jesus Hoyos (’89 Management Infor-

Jae Hyean Hwang (’94 Manage-

to seven.

mation Systems) is co-founder and

ment and Management Information

partner for Solvis Consulting, LLC, in

Systems) is responsible for business

Miramar, Florida, which specializes

development at Microsoft.

marketing department.

fall 2007, bringing the total number of

1980s Fred Schuster (’80 Industrial Admin-

in customer relationship manage-

istration) was appointed by President

ment services.

Bush to be the regional director for the U.S. Department of Health and Hu-

Andrew Hensen (’96 Marketing) lives in Ankeny, Iowa, with his wife Kari (‘96

1990s

Sociology, ‘98 M.S. and ‘05 Ph.D., Edu-

man Services for the states of Iowa,

Jennifer Anders MacDonough (’92

cation) and their two children, Kelsey,

Kansas, Missouri, and Nebraska. He

Marketing) spent her ﬁrst ﬁve years

age four, and Drew, 21 months. He has

leads more than 600 employees and

following graduation as a consultant

been a ﬁnancial advisor with Smith

has given hundreds of presentations

for Andersen Consulting, now Ac-

Barney for eight years. His wife is the

concerning the Medicare Prescription

centure. She then spent seven years

judicial affairs director for Des Moines

Drug program, Value Driven Health

in strategic marketing consulting with

Area Community College.

Care, Medicaid reform and other ini-

boutique ﬁrms and as a freelancer.

tiatives. Fred and his wife Donna have

Jennifer is currently director of mar-

Matthew Hacker (’96 Accounting)

been married for 19 years and have

keting for Memorial Hermann Hospital

recently accepted a position with

two daughters.

based in Texas Medical Center in

BAE Systems IT as a senior principal

Houston. One of her most memorable

enterprise architect. He is currently

experiences was leading the planning

integrating three major systems for

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

2000s

the U.S. Air Force to manage all service and MRO (maintenance,

Eric Houston (’01 Management Infor-

Mark Hughes (’03 Marketing) is a

repair and overhaul) activity. The

mation Systems) joined the Overland

traveling bookkeeper/IT support/staff

project duration will be several years

Park, Kansas, police department as

accountant with Kinseth Hotel Corp.

and is based out of Wright Patterson

a police ofﬁcer upon his graduation

in North Liberty, Iowa. He travels

Air Force Base in Dayton, Ohio.

from Iowa State. He is assigned to

throughout the Midwest giving sup-

the trafﬁc safety unit, riding a motor-

port to hotels and restaurants such as

Jen Estochen (’99 Transportation and

cycle and specializing in advanced

Courtyard by Marriott, Hilton Garden,

Logistics and Management Infor-

collision investigation.

Green Mill, Hampton Inn, Bennigan’s,

mation Systems) and her husband

and Holiday Inn.

Brad (’97 B.S., ’99 M.S. Construction

Adam Laug (’02 Management Infor-

Engineering) welcomed their twin

mation Systems and Transportation

Gagandeep Kanwar (’03 MBA) is

daughters, Kylie Rose and Neela

and Logistics) is assistant director

assistant vice president for Paul

Marie, on February 17, 2007. Jen is

of IT Operations at the Iowa State

Reinhart, Inc., one of the leading cot-

a supply chain analyst at 3M in the

University Foundation. He is in his

ton trading companies in the world.

Electronic Markets Materials Division

ﬁnal year of Iowa State University’s

Kanwar markets U.S. cotton in India,

based in St. Paul, Minnesota.

Master’s of Public Administration

Pakistan and Bangladesh.

Alumni

program. Adam and his wife, Nikki, Stacey Jorgensen (’99 Finance) began

had their ﬁrst child, Harrison James,

Frank Kennedy (’04 Accounting) is a

her own business, Open Book Finan-

on May 5, 2007.

ﬁnancial consultant at Wells Fargo.

cial Coaching, which customizes plans

He tracks expenses and prepares

to help clients achieve ﬁnancial suc-

budgets for two departments. ■

cess. Stacey and her husband Brad were blessed with their daughter, Jensen Renee, on February 6, 2006.

Building Welcomes New Art Installation Bravo III, a fabricated bronze sculpture by artist Bill Barrett, was installed outside the west entrance of the Gerdin Business Building in December 2006. Barrett is one of today’s foremost sculptors and is represented in numerous private and public collections around the country, including many university campuses. According to his Web site, his works “address the interplay between positive and negative space with grace, elegance, and exquisite balance.” ■

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

A LUM NI NEWS

Homecoming Awards Honor Outstanding Alums Each fall, the College of Business honors its most distinguished alumni at the ISU Alumni Association’s Honors and Awards Ceremony at Homecoming. This year, two alumni will receive the college’s Citation of Achievement Award, which was established in 1985 to honor distinguished alumni who have demonstrated outstanding achievement in life beyond the campus. One alumnus will receive the John D. DeVries Service Award, established in 1985 to recognize an individual who has demonstrated outstanding service to the college. The awards ceremony will take place on Friday, October 19. C I TAT I O N O F A C H I E V E M E N T HONOREES

Laura Beller (’76 Industrial Administration) is a co-founder and venture capitalist with Meritage Private Equity Funds in Denver, Colorado. She has more than 20 years of experience in private equity investing. She oversees all operational aspects of the firm including investor reporting, internal controls, administrative staffing, distributions and cash flow. Her efforts earned her the 2003 Outstanding Woman in Business Award from the Denver Business Journal. She also has an MBA from Rutgers, and lives in Parker, Colorado.

Walter Smith (’69 Industrial Administration) is chairman and chief executive officer of Thombert, Inc., and ITWC Polyurethane. He was the Iowa Small Business Person of the Year in 1995, leading his companies from $600,000 in annual sales to nearly $50 million today. Smith, who also earned an MBA from Drake University, currently serves on the board of directors for three other companies. He is a member of the College of Business Dean’s Advisory Council. He lives in Newton and has four children and two stepchildren with his wife Sibyl. J O H N D . D E V R I E S S E R V I C E AWA R D H O N O R E E

Craig Petermeier (’78 Industrial Administration) is the president and chief executive officer of Jacobson Companies, a nationally ranked third-party logistics and warehousing firm based in Des Moines. He has helped to oversee the explosive growth of what is now the fifth-largest third-party logistics provider in the United States, with over 6,000 employees in 140 locations and $550 million in annual revenue. Petermeier is the chair of the College of Business Dean’s Advisory Council, The ISU Foundation’s Order of the Knoll, and the ISU Coaches’ Circle. He and his wife Virginia live in Mingo, Iowa, and have two children: Lindsay, a senior at Iowa State, and Jonathon, a senior at Baxter High School. He received the Citation of Achievement Award in 1999. ■

B U S I N E S S A L U M E A R N S V O L U N T E E R AWA R D

Dan and Theresa Etler

Business graduate with a degree in

City, Missouri. The award recognizes

are the recipients

ﬁnance, and Theresa is a 1998 speech

Iowa State graduates age 40 and under

of the 2007 James

communication graduate. They live

who demonstrate early volunteer lead-

A. Hopson Alumni

in Shawnee, Kansas. Dan, a native

ership in alumni activities and who are

Volunteer Award. Dan

of Emmetsburg, Iowa, is a program

ISU Alumni Association members. ■

is a 1995 College of

leader with Hallmark Cards in Kansas

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

Handy-Thompson Reunion Held at VEISHEA A reunion honoring two of the College of Business’ early leaders was held on Saturday, April 21 during the celebration for VEISHEA and the kickoff for Iowa State University’s 150th anniversary. Dr. Charles Handy, professor emeritus of accounting and the founding dean of the College of Business, and Dr. William Thompson, professor emeritus of transportation and logistics and former department head of industrial administration, were on hand to visit with former colleagues and students and share memories of their years at Iowa State. On a perfect spring day, guests watched the VEISHEA Parade from the front lawn of the Gerdin Business Building, then enjoyed lunch before moving indoors for a symposium, where both Handy and Thompson took the floor to tell old stories. They reminisced about old buildings, early classes, and the business program they never imagined would become as large as it has today. It was a rare and special opportunity for many former students and fellow faculty members to say “thank you” to two men who greatly impacted their lives. ■

DRS. CHARLES HANDY AND WILLIAM THOMPSON, LONGTIME FACULTY MEMBERS AND LEADERS OF THE BUSINESS PROGRAM AT IOWA STATE.

DR. WILLIAM THOMPSON OFFERED SOME STORIES FROM HIS TIME ON THE BUSINESS FACULTY IN INDUSTRIAL ADMINISTRATION.

DR. CHARLES HANDY, RIGHT, TAKES A BREAK FROM LUNCH TO CHAT WITH HIS

CENTRAL CAMPUS WAS PACKED WITH ALUMNI AND FRIENDS WHO CAME

FORMER COLLEAGUE, DR. DALE VOORHEES.

TO CELEBRATE VEISHEA AND THE KICKOFF OF IOWA STATE’S YEAR-LONG 150TH ANNIVERSARY.

IOWA STATE UNIVERSITY

■

COLL EGE OF BUSINESS

■

PROSPECTUS

FA C ULTY A ND STA FF NEWS

New Faculty and Staff E. Deanne Brocato, assistant profes-

an advisor and adjunct instructor at

with staff and leadership development

sor of marketing. Brocato recently

Buena Vista College.

training programs. She earned her

ﬁnished her postdoctoral studies and

bachelor’s degree from the University

was a visiting scholar at IC2 Institute

Sekar Raju, assistant

at the University of Texas at Austin.

professor of market-

She earned her Ph.D. in marketing

ing. Raju previously

Nicole Vidden,

from the University of Texas at

taught at the School

academic advisor

Arlington. Her research interests

of Management at the

in the Union Paciﬁc

are in services marketing.

University of Buffalo.

Undergraduate Pro-

of Northern Iowa.

He earned his Ph.D. in marketing from

grams Ofﬁce. Vidden

Suzanna de Baca (’86 Art and Design),

the Ohio State University. His research

lecturer of ﬁnance. de Baca is founder

interests are brand commitment,

ployed at Minnesota State University,

was previously em-

and president of Private Capital Solu-

attitude strength, memory, customer

Mankato, where she worked in the

tions Group in Des Moines, Iowa.

relationship management, and the ef-

First Year Experience Ofﬁce and with

fects of advertising.

learning communities.

Mary Evanson (’00 Psychology), director

Valentina Salotti,

Maria Wolfe, lecturer

of development for

lecturer of ﬁnance.

of management. She

the ISU Foundation.

Salotti is currently a

currently is a graduate

She was previously

visiting scholar in the

student at Iowa State,

employed at Domin-

College of Business

majoring in English.

ican University as the director of annual giving.

at Iowa State and a Ph.D. student at the University of Bologna, Italy.

Peng Xu, lecturer of

Guy Helmer (’98 M.S.

ﬁnance. Xu previously

and ’00 Ph.D., Com-

Laura Smarandescu, assistant profes-

taught at Rotman

puter Science), lec-

sor of marketing. Smarandescu came

School of Manage-

turer of management

to Iowa State from the Moore School

ment, University of

information systems.

of Business at the University of South

Toronto.

Helmer is currently

Carolina, where she earned her Ph.D.

employed as chief system architect at

and spent time as a research assistant

Jing Zhang,

Palisade Systems in Ames, Iowa.

in psychology. Her research interests

assistant professor

include behavioral decision theory,

of management. She

Chrystal Martin, academic advisor and

context effects, affect and cognition

was previously RCUK

graduate assistant in the Union Paciﬁc

interplay, and special consumer groups.

research fellow at

Undergraduate Programs Ofﬁce. She is a graduate of the University of Minnesota.

Lancaster University Tammy Stegman,

Management School in Lancaster,

career coordinator

United Kingdom. Zhang earned her

Rob Musselman,

for Business Career

Ph.D. in business policy from the Na-

academic advisor

Services. Stegman

tional University of Singapore and has

in the Union Paciﬁc

comes to Iowa

research interests in strategic manage-

Undergraduate

State from ATW

ment, entrepreneurship, social network

Programs Ofﬁce.

Training and Consulting, Inc., where

He was previously

she was a corporate trainer, working

theories, and international business. ■

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW. BUS .I ASTATE .E DU

F A C U LT Y A N D S TA F F H O N O R S Ron Ackerman,

and community lending. Dean Hira will

Mark Peterson, direc-

director of graduate

serve a three-year term that began in

tor of graduate career

admissions and

January 2007.

services, was named

student services,

the VEISHEA 2007 Col-

was awarded

Jeffrey Kaufmann,

lege of Business Staff

the 2007 Regents

assistant professor

Member of the Year.

Award for Staff Excellence.

of management, was

Rick Carter, Dean’s Professor of Finance,

awarded an Outstand-

Charles (Brad)

ing Reviewer Award

Shrader, Eucher

by the Business

Faculty Fellow in

was awarded the

Policy and Strategy Division of the

Management, was

2007 Regents Award

Academy of Management.

named University

for Faculty Excel-

Professor. Shrader

lence. Carter was also

Stephen Kim, Dean’s

was also selected as the VEISHEA

honored as the 2006-2007 Teacher of the

Faculty Fellow in

2007 College of Business Faculty

Year by Business Council.

Marketing, received

Member of the Year.

with his co-authors a The Iowa State

silver medal from the

Amrit Tiwana received

University Alumni

Institute for the Study

the Best Article Award

Association honored

of Business Markets at Smeal College

for 2006 from Decision

Mike Crum, associate

of Business at Penn State University.

Sciences Journal.

dean of graduate pro-

Kim also received a reviewer award

Tiwana and his co-

grams and John and

from the Journal of the Academy of

Ruth DeVries Endowed Chair in Busi-

Marketing Science.

ness, the Superior Service to Alumni

authors researched over 1,000 projects from 100 technology companies to learn more about the out-

Award, given to an Iowa State faculty or

Stephanie Larson,

comes of managers committing greater

staff member who has demonstrated a

academic advisor,

time and resources to failing projects.

commitment to establishing or furthering

was named Business

alumni relationships with the university.

Council Advisor of the

John Wong, associate

Year for 2006-2007.

professor of market-

Judi Eyles, associate

ing, was inducted

director of the ISU

Frank Montabon,

into the university’s

Pappajohn Center

associate professor

25-Year Club.

for Entrepreneurship,

of operations

received the Learning

and supply chain

Community Champion

management, has

Award for her work with the Entre-

been named to the

preneurship and Innovation Learning

Associate Editor Board of the Journal

Community.

of Supply Chain Management. Labh Hira, dean, has

Deb Noll, academic

been appointed to the

advisor, was elected

Board of Directors of

to chair the Advising

FHLB Des Moines, a

Business Majors

wholesale cooperative

Commission of the

bank that provides

National Academic

low-cost, short- and long-term funding

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

CONTINUED ON PAGE 35

Advising Association.

■

PROSPECTUS

DEVELO PM ENT

Pints Create Faculty Fellowship Gary Pint had a great experience as an undergraduate in the Department of Industrial Administration at Iowa State,

“The faculty attract students and help them with their own growth opportunities.” —GARY PINT

which helped him develop an outstanding career after he graduated in 1958. Now that he is retired, he wants to help create great opportunities for students in today’s College of Business. Gary and his wife Margaret recently made a donation to the College of Business to endow a faculty fellowship in marketing. Their leadershiplevel gift will fund the Gary and Margaret Pint Faculty Fellowship. “The industrial administration department at that time was a fun place to be, a kind of embryo,” said Pint, reflecting on his days in Ames. “And importantly, there were some fantastic faculty — like William “Wild Bill” GARY AND MARGARET PINT Schrampfer, Harry Shadle, Chuck Handy, Bill Thompson, and others.” After he graduated from Iowa State, Pint went to work for 3M. He spent his entire 35-year career there, beginning as a sales representative in the electrical product division, then moving to marketing management in telecommunications areas. “We came up with an idea for a telecommunications business at 3M, and spent time generating support for our idea,” Pint said. “Sponsorship helped, 3M pursued it, and it grew into several successful businesses.” Pint was promoted to division general management and eventually to group vice president of electrotelecom systems.

“We’re very thankful that Gary and Margaret have so generously funded this faculty fellowship,” said Labh Hira, dean of the College of Business. “Gary and Margaret have been great friends to the College of Business, and it is an honor that one of our faculty positions will bear their names.” Pint was especially attracted to the opportunity to support the college’s faculty. “I believe very strongly in the process of building a world-class faculty,” he said. “The faculty attract students and help them with their own growth opportunities. This will be key to the continuing success of our Iowa State University College of Business.” Pint has been very active in supporting the College of Business. He was a longtime member of the Dean’s Advisory Council, and thanks to the Pints’ gift to the construction of the Gerdin Business Building, a second-floor classroom bears their names. He was instrumental in establishing the 3M Business Lab, a joint collaboration between 3M and the Colleges of Business, Engineering, and Education (now Human Sciences). The lab’s purpose was to bring students from different backgrounds together in an entrepreneurial environment to work for course credit on real business issues and opportunities. Pint says he is proud of the progress his college has made. “I have great admiration for what has been done by the administration and the faculty,” he said. “The growth and the achievements are very significant, and that will bring other people forward to say, ‘I want to be a part of this.’” ■

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BU S. IAS TATE. ED U

Annual Support for the College of Business The College of Business would like to thank our treasured alumni, friends, and corporate and foundation partners for their annual support during the academic year beginning July 1, 2006, and ending June 30, 2007. Their contributions demonstrate a commitment to ensuring that our students and faculty have the resources to grow in an increasingly competitive marketplace. Many additional donors have supported the College of Business during 2006-2007 and requested confidentiality for their gifts. Those gifts are not listed here. If you prefer your name not be published, please contact the ISU Foundation Alumni Records department at 515 294-4656 or arecords@foundation.iastate.edu. For more information on how you or your company can support the College of Business, contact Jeremy Galvin, director of development, at 866 419-6768 or jdgalvin@iastate.edu.

SUPPORT FROM ALUMNI AND FRIENDS $100,000 AND ABOVE Kelley and Joan Bergstrom Steve and Debora Bergstrom John and Ruth DeVries Arthur and Betty Heggen John and Mary Pappajohn

John and Diane Harrington Labh and Tahira Hira Timothy and Karen O’Donovan Ned Skinner Robert and Virginia Stafford Murray and Valerie Wise

$50,000-$99,999 Allan and Sue Landon Robert and Jane Sturgeon Cora Wortman

$5,000-$9,999 Miles and Catherine Barker Leslie Buttorff Gregory and Terri Churchill Robert Cox Michael and Sue Crum Joseph and Dianna Elwell James and Ann Frein David Garﬁeld Fred and Carol Hoiberg Richard and Carol Jurgens William Kalm Michael McBreen Robert McLaughlin Sue Ravenscroft

$25,000-$49,999 David and Margaret Drury William and Elizabeth Goodwin June Lovejoy Estate $10,000-$24,999 Ed Droste Ralph and Jean Eucher Patrick Flannery Estate Mark and Pamela Fisher

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

Tom and Ann Rice Steven and Rose Ann Schuler Troy Senter Smith Family Foundation Trust Donald and Patricia Wolfe $2,500-$4,999 Kenneth Caratelli Jerald and Cindy Dittmer David and Kathleen Ecklund Denise Essman William and Gloria Galloway Charles Handy Isaiah and Charlene Harris Kurt and Cara Heiden Madolyn Johnson Joanne Reeves Frank and Juliane Ross Maralee Shadle John and Jennifer Streit Gary and Susan Streit Amrit Tiwana $1,000-$2,499 James Auen Keith and Denise Axtell Raymond and Joan Beebe Michael Bootsma C. Dean and Sandra Carlson Michael and Mary Ann Carlson Nancy Dittmer John and Wendy Duston David and Cynthia Finch Don Finnegan Beth Ford David and Nancy Halfpap Caroline Hayes Lorene Hoover Jay and Loree Horn Dan Houston Gerald and Carol Hunter Frank and Cynthia Jeffrey J. Scott and Julia Johnson Timothy and Jolene Kneeland Cheryl Krongard Gregory and Joyce Kveton Mike and Jane LaMair Bruce Lambert Todd Leland

Craig and Beth Marrs John Mertes John and Quay Mitchell Thomas and Janet Nugent Christopher and Sondra Paskach Larry Pearson Craig and Virginia Petermeier Gary and Trudy Peterson Kevin and Kathleen Prien Randal Richardson George and Marcia Schaller Mary Scheve Larry Scott Thomas Mueller and Sheryl Sunderman Scott Taylor Kenneth and Janet Thome James and Carole Triplett Lynn and Jody Vorbrich Bruce Webb Scott and Judith Wilgenbusch George and Sue Ann Williamson Myron and Esther Wilson Eric Zarnikow $500-$999 Peter Adam Rick and Sonia Arnold Ronald and Engra Banse Belinda Bathie Carl Boat David and Susan Bolte Marvin and Vicki Bouillon Judith Brower Timothy and Amy Burrell Richard Carlson Daniel Davison Richard Deblieck B. Michael Doran Terri Elias Mark and Deanna Elliott-Stoering Ryan Glanzer Louis Glover James Graham Loren Gustafson John and Nancy Halleland Jay Hardeman Donald Haugo Arlo Herbold David Hoover

DEVELO PM ENT

Annual Support for the College of Business/continued Thomas and Ellen Howe Donald Huber Douglas Irwin Carolyn Jones Carr Allen and Kathy Kockler Deborah Lancaster Eric and Mary Larson Jon Leinen Derek Mazula Gary and Peggy McConnell J. David McIntosh Jeffrey Melton Joan Meyer Paul Miller Troy and Tracey Mostaert Rainer Mues Roger Murphy Roger Neumann Mark O’Gorman Clark and Nancy Parks Wayne Prescott Dennis and Amy Pyle Brenda Richmann Todd and Kelley Robinson Michael and Renee Scheuermann Joseph and Maggie Schnepf Neil Schraeder Richard and Kari Schulte Jennifer Schultz Gerald Sewick Michael Shepherd Timothy Sirpless Craig Stapleton Ruth Ward-Schraeder Richard and Sandy Wellman Robert Wiese Charles Wood $250-$499 William and Susan Adams Keith and Sheri Bandle Craig Barnes Walter and Heidi Baskin Russell Beecher Craig Black John Bruce Michael and Peggy Bucher Steve Campbell Teresa Carley-Brown

Charles and Jen Christensen Brent Christenson Steve Coder Cheryl Conover Sandra Cooney Elizabeth Cosner Joseph Cote Thomas Crawford Russ and Beth Cross Lisa Dias Howard and Dee Dicke Thatcher and Shelly Barnum Dilley David Dirks Kenneth Eastman Mark Echtenkamp Mark and Jeanne Eibes Deborah Ekroth Joel Elmquist Craig Fear Laura Fredrickson Phillip Gale Pamela Gallagher Peter and Luann Gilman Christine Grisham Jeffery Hadden Patrick and Debra Hammes Gregory Harper Charles Harris Craig and Cheryl Hart Charles Hawkins Gerald and Jean Hoffman Scott Hudson Michael Hummel Jeremy and Kristi Humpal Carol Jensen Judith Johnson Vernon Junker Gregory and Sharon Kaczmarek Lawrence and Carole Kerr Susan Kesting David and Robin Kilgore Patrick Kirchner Teresa Lapinskie Paul Larson Mark and Alison Law Michael Maloney Richard and Mary Masching Edward Meissner Barbara Miller

Richard Miller Dennis Milne Marc Nabbefeldt Lisa Neese John Nelson Erik and Deborah Oiler Jane Onken Karen Otto Debra Overton Janette Parks Gregory Penn Scott Pfeifer Douglas and Jo Ellen Pyle Ling Qin Dave Reuter Mitchell Roggemann Harold Rosen David Safris Naomi Sage David Sawin David Schwickerath Ralph Scott Mark Siegel Michael Sorden Ronald Spielman Kevin and Gabrielle Steffensmeier Randall and Denise Strum Matthew and Andree Swanson Kimberly Thuente Kevin Toft Charles and Cathy Van Winkle Robert Vander Linden Timothy and Diane VanGoethem Scott Vreeman Patricia Walsh Stanley Warren Tom Wilson Darren Wilson David Wolfe Stephanie Wood Brian and Carol Worth Kimberlee Wright David Young $100-$249 Paul Abens Gary and Kathryn Aitchison Alan Brown Alan Rickert

Jeffery Albracht Andy and Robecca Anderson Larry Anderson Lynn Anderson Linda Armbruster Janet Arnold Tyler Artz Jean Ault Keith Bader Jerald Ball Annette Banwart-Dellacroce James Barney Paige Barney Leon and Reba Benschoter Warren Benson Merita Bergstrom Joel Berkland Matthew Berry John and Suzanne Boris Karen Boriskey Keith and Laura Bosler Allan Boyken Matthew Braafhart Jonathan Brackmann James Breitenkamp Barbara Brooks David Brousard Jeffrey Brower Robert and Florence Brown Susan Brown Richard Brown Sally Brown Bryan Crock Dale Buehler Danny and Mary Busse Craig Calhoun Harriet Campbell Lawrence Carlson Carolyn Portner Susan Cartagena Brian Carter Keith Carter Tracey Casaccia Dean Casad Steven Chambers John Chesser Jason Claus Jay Cobb Sherrie Coffelt

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

Ronald Collison Timothy Connolly Richard Cope Jeanette Corum Marsha Cory Steven and Carolyn Cremer Sarah Cummins James and Brenda Cushing Charles and Betty Dalton Frederick and Veronica Dark Randy Davidson Mark De Gidio David De Jong Don De Long Kimberly DeBaere Jill DeLio John Dessert Michael Dickson Ann Dodd Michael Dodd Nancy Dop Matthew Doran Thomas Dougherty DeeAnn Drew Joseph DuBois Timothy Dye Jeffrey Eagan Geoffrey and Maureen Eastburn Michael Egan Bruce Eichman Kristie Elmquist Lisa Engstrom Pattie Erps David Evans Michael Fahning Debra Fear John Feld Linda Fevold Marda Fickes Gary Fields Karen Fincel Tony and Linda Finnerty Bruce Fischer Christopher Fisher Barbara Fleig Dennis Flieder Daniel Flynn Nicholas and Stephanie Fox Lewis French

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

Gary Fridley Matthew Frohardt Bethann Froistad M. Richard and Linda Froistad Carl and Diana Fulk James Fulton Linda Gabriel Brian Garoutte Jennifer Garrels Samara Garton Donald and Mary Geiger David Gibson Elizabeth Gildea David Gion Kelly Gofﬁnet-Dickson Rhonda Golden Marvin and Crystal Gordon Larry and Mary Grant Steven Greene Timothy Greene William Gregerson Jay and Joanna Grubb Tracy Hadden David Hallman Larry Hameister Jo Hamlett Jeffrey Hand Chennikkara Hansen John Hansen Matthew Hansen Richard Hansen Robert Hanser David and Kay Harpole Angela Hart Jeffrey Hawkins Paul Hawkins Tamara Hegel Terry and Gwen Henricksen Terry and Patricia Hinton David Hiserodt Toby Hoffman and Tricia Triplett John Hofmeyer Ted and Eleanor Hollander Beth Homeister William Honke Ronald Hoppel Allen Horn Stephen Howard Edward and Mary Howes

■

PROSPECTUS

Stephen Howes Jesus Hoyos Gayle Huck Richard Hucka Thomas Ingleby Paul Jacobsen Daniel Jacobson Lara Jeffery Bruce and Cindi Jensen Brian and Maureen Jessen Jeffrey Johnson James Jorgensen Thomas Jostes Dale and Mary Karp Lori Karssen Jozef and Marla Kautzky Karen Kesl Gary and Maurene Kleven Nancy Knudsen Jason Knupp Cynthia Krage Donald Kragel Michael Kragenbrink Constance Krelle Michael Krieger Robert Krier Mark Kuchel Valerie Kuehl Charles Kurth Hubert Lattan Robert Lavender Tracy Laws William Lebuhn Thomas Lechner Jon Leinen Ann Leonard Mary Lewis Tammy Lewis Paul Livingston Jeffrey Lockwood Chris Lonowski Bradley Lorenger Stacey Lovan Christian Love Hutcheson MaryAnn Lundy Tom Macklin Darlene Madura-Zieman Robert and Nancy Mahnke Samuel Makinye

John Manternach Sandra Marcus Lindgren James and Jean Martin Mark Martin Rebecca Marzen Lawrence Massa Todd May Sally McAtee James McDonald Michael McEnroe Matthew McGregor Douglas McKechnie J. Douglas McKinstry Paul Mease Robert Meinhold Mark and Rebecca Melsa Romona Meneough Brian Messer Theodore Meyers Miranda Mhango Amy Miller Jeffrey and Pamela Miller Stacia Moeller David and Angela Moench Diane Moore Kyla Moore Jay and Pamela Morreale Nancy Mortensen Brian Mosher Laird Mott David Mumford Suzanne Murphy Gary and Rosemarie Nation Roy Nelson Stephen Nelson Dan Nemmers Brenda Niblo Marc Nichols Michael Nickey Dennis Nuetzman Douglas Obal Ryan and Colete O’Donnell Robert Ogg David Olson Jim Olson Aaron Olson Mark Olthoff Debra Oltmann James Osterling

DEVELO PM ENT

Annual Support for the College of Business/continued Hayes Owen Todd Owen David Pantalone David Paskach Dean Payton Patricia Peiffer Paul Pence Loren and Tonia Peters Stephen Pohl Rodney and Jennifer Potratz Robert Prell Gregory Prisk Stephen and Jennifer Puck Laura Pyer Janet Quick Robert Ranard John Ransom Paul Rath Mary Reckard Reed Spiegel David Reiff Renee Reimer Stephen Remington Robyn Reuter Lori Rockers Margot Rogers Tim and Jan Romenesko James Rose Rodney Ross Charles Roth Curtis Rouse Scott Rude William Rusk Carl Russell Stephen Sandman John and Krista Santucci Jon and Kristin Scharingson Jeffery Schirm Kent Schmidgall Cathy Schmidt Lawrence Schmitz Pamela Schneider-Jennings Julie Schnoebelen Bruce Schuman William Schwickerath Sally Selby Allan and Shari Severson Larry Shima Lee Simmons

Warren and Susan Simons Robert Simonsen Pamela Simpson Roy Siple E. Paul and Marian Sjurson Nancy Skubis Gina Slack Ryan Slattery Angela Smeins Daniel Smith Steven Smith Bruce Snethen Richard Snyder Marc Snyder Mark Sorenson Clinton Spangler Kurtis Spieler Jean Srour Thomas and Cynthia Stark Neal Steffenson Jeffrey Steggerda Brenda Stephany Timothy Stoessel Brian Streich Samuel Strotman Cristina Strudthoff G. Thomas Sullivan Kyle Swon Roy Teas Laura TeKippe Scott Templeton Eric Terpstra Adrienne Tetreault William Thatcher Elizabeth Thompson Erik and Kathryn Thompson Sandra Thompson Peter Tiano Jose Torres Ruby Trice Ronald Troyan Danielle Trumbauer Richard Van Allen Patrick Van Wert Michael Vanmaaren Valerie Vasquez Drew Vogel Walter Baskin Steven Webb

Matthew and Jennifer Weber Russell Weeden Kenneth Weiss Bruce Werth Richard West Robert Wetherbee Thomas Whitten Robert Williams Steven Wilson Travis and Rebecca Wilson Douglas Wilwerding Larry Wirth Charles Wise Molly Withers James Woerdeman

Robert Wolf Randy Woodbury Michael Woods Craig Younggren Derek Zaun The College of Business also wishes to thank those individuals who have made provisions during the 2006-2007 academic year to support the college in their estates. These alumni and friends made revocable and irrevocable estate gifts totaling $10,838,279.

S U P P O R T F R O M C O R P O R AT I O N S A N D F O U N D AT I O N S $100,000 AND ABOVE Wells Fargo Foundation $50,000-$99,999 Life Investors, Inc. (AEGON) Union Paciﬁc Foundation $25,000-$49,999 AEGON Transamerica Foundation John Deere Foundation Wells Fargo Consumer Credit $10,000-$24,999 Caterpillar Foundation Eastern Finance Association Jacobson Transportation Jacobson Warehouse Company Principal Financial Group Foundation, Inc. $5,000-$9,999 Kingland Systems

Federated Insurance Foundation, Inc. First National Bank–Ames Gerdin Truck and Leasing JKL Enterprises, Inc. Pioneer Hi-Bred International– Des Moines RSM McGladrey, Inc. S&C Resale Company Sigler Companies, Inc. Union Paciﬁc Corporation $500-$999 Auto-Owners Insurance DK Plastics Ofﬁce Systems Professionals of Central Iowa $100-$249 First Mortgage, Inc. Geo-Don Enterprises, Inc. Mathew Greenwald & Associates, Inc. Wilwerding Contracting, Inc.

$2,500-$4,999 Caterpillar, Inc. $1,000-$2,499 Accenture Foundation, Inc. Barr-Nunn Transportation, Inc. Cerner Corporation

VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

These companies have made matching gifts to the College of Business on behalf of their employees: 3M Foundation ADP Foundation Alcoa Foundation Ameriprise Financial AmerUs Group Charitable Foundation Anadarko Petroleum Anheuser Busch Foundation Bandag, Inc. Baxter International Foundation Deloitte Foundation Eaton Charitable Fund Eli Lilly and Company Foundation Emerson Charitable Trust ExxonMobil Foundation

FBL Financial Group, Inc. First Data Foundation GMG Foundation H & R Block Foundation Harris Bank Foundation Hormel Foods Corporation Charitable Trust IBM Corp-CT ING Foundation Ingersoll-Rand Foundation Key Foundation Kimberly Clark Foundation KPMG Foundation Kraft Foods Corporation Lockheed Martin Corporation May Department Stores Company Foundation

Meredith Corp Foundation MetLife Foundation MidAmerican Energy Foundation Motorola Foundation National City Nationwide Foundation Nike, Inc. Oklahoma Gas and Electric Company Pactiv Pella Rolscreen Foundation Pepsico Foundation, Inc. Pﬁzer Foundation Matching Gifts Program PPG Industries Foundation Principal Financial Group Foundation Procter and Gamble Prudential Foundation

RBC Dain Rauscher Foundation Robert Half International Rockwell Collins RuffaloCody Serono Laboratories Sprint Foundation Syngenta TCF Financial Corporation Temple-Inland Foundation Time Warner, Inc. U.S. Bancorp Foundation Verizon Wachovia Foundation Walt Disney Company Foundation Whirlpool Foundation Xcel Energy Xerox Corporation USA ■

Faculty and Staff Honors/ CONTINUED FROM PAGE 29 The 2007 Faculty and Staff Awards Ceremony, sponsored by the Dean’s Advisory Council, was held in April. Honorees included: Ann Clem, senior lecturer of accounting,

Jeffrey Kaufmann, assistant professor of man-

Paula Morrow, university professor

agement, Junior Faculty Research Award Michele Kohrs, administrative assistant, undergraduate programs, Merit Superior Service Award Stephanie Larson, academic advisor, Professional and Scientiﬁc Superior Service Award

of management, Senior Faculty Research Award Karen Terpstra, assistant to the dean, Professional and Scientiﬁc Student Impact Award Howard VanAuken, Bob and Kay Smith Entrepreneurship Fellow, Senior Faculty Teaching Award ■

Junior Faculty Teaching Award F A C U LT Y P R O M O T I O N S Amrit Tiwana

Rajshri Agarwal received a

Scott Elston

received a promotion to as-

promotion to senior lecturer of

was promoted to senior

sociate professor with tenure

marketing.

lecturer of management. ■

in the department of logistics, operations, and management information systems.

IOWA STATE UNIVERSITY

■

COLLEGE OF BUSINESS

■

PROSPECTUS

DR . C HA R LES HA NDY

From the Desk of Founding Dean Charles Handy The time was the summer of 1959. I am assigned to teach cost accounting, a course I disliked as a student but learned to love as

One student stands head and shoulders above the others. His name is John DeVries.

meetings in cities where clusters of our alums can be found, phone contacts, and many face to face meetings. A typical day finds Betsy and me driving to Des Moines to pick up John and head out to make pre-arranged calls. One such contact remains in my mind. It was an instructor. My class is small, ten in number. One a typical Iowa winter day—snow and slippery student stands head and shoulders above the others, roads. Despite weather conditions, we arrive at our and receives the only “A.” His name is John DeVries. contact’s office at the pre-arranged hour, where we Time marches on. It is the early 1980s. I am were kept waiting for a considerable length of time. now the director of the new School of Business Once we were seated, he uttered, “Okay, you drove Administration. The school’s goal down here from Ames on ice and I is to become a degree-granting colhave kept you waiting; how much lege, but in a time of state funding do you want?” cutbacks, it is obvious that we must That day Chuck Muelhaupt, develop an external fundraising an ISU business alum, ex-Cyclone program to achieve our goal. Fate football player, and owner of the shines on us in the form of Elizabeth Des Moines Cold Storage Company, “Betsy” Mayfield, manager of the ISU became a Founders’ Fund Fellow. Achievement Foundation’s special How successful were our early campaigns, who takes an interest in efforts? In the college’s 1984-85 our program. Annual Report, I reported that more Betsy suggests establishing an than $1.3 million had been raised endowment for business. We entitled since the campaign’s launch. That JOHN DEVRIES ADDRESSES THE AUDIit the Founders’ Fund Society, with seems like a pittance compared ENCE AT THIS PAST SPRING’S REUNION membership designations based on to the funds raised for the Gerdin HONORING DRS. CHARLES HANDY AND gift size: Associate Member ($500 to Business Building, but we were also WILLIAM THOMPSON. $999), Member ($1,000 to $4,900), doing something that many acaSustaining Member ($5,000 to $9,999) and Fellow demics looked down on in those days, but have ($10,000 or more). now found to be a way of life. Another stroke of luck comes in the form of my I feel a deep debt of gratitude toward Betsy former “A” student, John DeVries, now a successful Mayfield and John DeVries for the huge part they Des Moines business owner. (It is wonderful what played in giving our program an important initial a course in cost accounting and an ISU business boost. At Betsy’s suggestion, I established the John degree will do for you! Of course, business sense D. DeVries Service Award, given each year to an also plays a part.) John is grateful to our business individual who demonstrates outstanding service to program and wants to give something back. He is a the college. natural to become the national chairperson of the When one considers the time John took away Founders’ Fund Campaign. It is also the beginning from his own business, it hardly seems enough. of a long and lasting friendship. But it was one way of saying thank you. ■ Development activities take the form of group VOLUME 23 NUMBER 2

■

FALL 2007

■

WWW.BUS.IASTATE.EDU

COLLEGE OF BUSINESS

Administration Labh S. Hira

Richard F. Poist

Soma Mitra

Dean

Chair, Department of Logistics, Operations, and Management Information Systems

Academic Fiscal Officer

Ronald J. Ackerman

Director, Small Business Development Centers

Michael R. Crum Associate Dean, Graduate Programs

Kay M. Palan Associate Dean, Undergraduate Programs

Marvin L. Bouillon

Director, Graduate Admissions

Steven T. Carter Director, Pappajohn Center for Entrepreneurship

Chair, Department of Accounting Chair, Department of Finance

Ann J. Coppernoll

Thomas I. Chacko

Jeremy D. Galvin

Chair, Department of Management Chair, Department of Marketing

Director of Development

Director, Undergraduate Programs

James M. Heckmann Mark S. Peterson Director, Graduate Career Services

Daniel J. Ryan Director, Marketing and Alumni Relations

Kathryn K. Wieland Director, Business Career Services

Amy R. Grau Director, MBA Recruitment and Marketing

Dean’s Advisory Council Craig A. Petermeier ’78, Chair

James F. Frein ‘67

David W. Raisbeck ‘71

President and CEO Jacobson Companies

President, Retired Hutchinson, Shockey, Erley & Co

Vice Chairman Cargill, Inc.

Ronald D. Banse ‘75

David C. Garfield ‘50

Frank Ross ‘84

Assistant General Auditor Union Pacific Corporation

President, Retired Ingersoll-Rand Co.

Vice President- North America Operations Pioneer Hi-Bred International, Inc.

Raymond M. Beebe ‘64

Russell Gerdin

George H. Schaller ‘62

Vice President, General Counsel and Secretary Winnebago Industries, Inc.

Chairman and CEO Heartland Express, Inc.

Chairman FNC, Inc.

Kelley A. Bergstrom ‘65

Isaiah Harris, Jr. ‘74

Steven T. Schuler ‘73

President Bergstrom Investment Management, LLC

President and CEO, Retired BellSouth Advertising and Publishing, Inc.

Senior Vice President and CFO Federal Home Loan Bank of Des Moines

Steve W. Bergstrom ‘79

Cara K. Heiden ‘78

Ned L. Skinner ‘74

Chairman Arclight Energy Marketing

Division President National Consumer and Institutional Lending Wells Fargo Home Mortgage

President U.S. Coffee and Tea Company

Daniel J. Houston ‘84

Chief Executive Officer ITWC Polyurethane

G. Steven Dapper ‘69 Founder and Chairman hawkeye | GROUP

John D. DeVries ‘59 CEO, Retired Colorfx

Jerald K. Dittmer ‘80 Vice President and Chief Financial Officer HNI Corporation

David J. Drury ‘66 Chairman and CEO, Retired The Principal Financial Group

David K. Ecklund ‘72 Vice President, Client Services, Retired Caterpillar Logistics Services, Inc.

Denise I. Essman ‘73

Executive Vice President Principal Financial Group

Richard N. Jurgens ‘71 Chairman, Chief Executive Officer, and President Hy-Vee, Inc.

Daniel L. Krieger ‘59 Chairman Ames National Corporation

Cheryl G. Krongard ‘77 Partner, Retired Apollo Management LP

Robert E. McLaughlin ‘60 Partner Steptoe & Johnson LLP

President and CEO Essman/Associates Essman/Research

Timothy J. O’Donovan ‘68

Beth E. Ford ‘86

Kevin K. Prien ‘84

Chief Operating Officer, Executive Vice President Hachette Book Group USA

Partner McGladrey & Pullen, LLP

Chairman of the Board Wolverine World Wide Inc.

Walter W. Smith ‘69

John H. Stafford ‘76 Vice President, Business Financial Services General Mills, Inc.

Gary J. Streit ‘72 President Shuttleworth & Ingersoll, P.L.C.

Jane Sturgeon ‘85 Senior Vice President, CFO and Treasurer Barr-Nunn Transportation, Inc.

Jill A. Wagner ‘76 Vice President of Marketing Cablevision

��

NONPROFIT ORG. U.S. POSTAGE PAID

2200 Gerdin Business Building Ames, IA 50011-1350

AMES, IA PERMIT NO. 200