Jones Journal - Spring 2012

RICE UNIVERSITY | JESSE H. JONES GRADUATE SCHOOL OF BUSINESS | SPRING 2012

L OOK ING B ACK

at Forward Thinking

PERSPECTIVES IN TIME THREE ALUMNI FROM THE CLASS OF 1992 REMEMBER WHEN — LEE BOOTHBY, CAROLINE GOODNER, DAN FRIEDKIN

TEACHING IS A TIME TO SHOW

FOR SHOWTIME NETWORKS VETERAN MARY BOURNEMARTH ’87, WORK IS ALL PLAY

TEACHING AND TAKING ACCOUNTABILITY DR. STEPHEN A. ZEFF, AN ACCOUNTING LEGEND

MODEL BEHAVIOR DR. KERRY BACK COUNTS ON EQUATIONS TO HAVE PLENTY TO SAY ABOUT PEOPLE

Our Mission: We excel at developing principled, innovative thought leaders in global communities.

FEATURE STORIES 8

PERSPECTIVES IN TIME THREE ALUMNI FROM THE CLASS OF 1992 REMEMBER WHEN — LEE BOOTHBY, CAROLINE GOODNER, DAN FRIEDKIN

12

TEACHING IS A TIME TO SHOW FOR SHOWTIME NETWORKS VETERAN MARY BOURNE-MARTH ’87, WORK IS ALL PLAY

14

MODEL BEHAVIOR DR. KERRY BACK COUNTS ON EQUATIONS TO HAVE PLENTY TO SAY ABOUT PEOPLE

16

TEACHING AND TAKING ACCOUNTABILITY DR. STEPHEN A. ZEFF, AN ACCOUNTING LEGEND

ARTICLES 2

JESSE JONES, CAPITALISM AND THE COMMON GOOD FROM BIOGRAPHER STEVEN FENBERG

4

BACK OF NAPKIN, TOP OF MIND JGSEO SPOTLIGHT

5

BEYOND 100 YEARS AND 100 STUDENTS REEP SPOTLIGHT

6

THE EVOLUTION OF CAREER SERVICES AT THE JONES SCHOOL FROM EXECUTIVE DIRECTOR OF THE CMC, DEANNA FUEHNE

7

WHO EMPLOYS RICE MBAS WASTE MANAGEMENT INC. SOURCES JONES SCHOOL STUDENTS

18

Q&A WITH PHD CANDIDATE IN MARKETING, CARLY FRENNEA ‘09

19

5 THINGS I LEARNED IN 5 YEARS SAMEER BANDHU ’07, GLOBAL LEADER OF PRICING AND STRATEGY FOR GE POWER AND WATER

20

HISTORY OF ENTREPRENEURSHIP AT THE JONES SCHOOL

23

STAFF PROFILE LINDA WERCKLE, FACULTY ASSISTANT

26

JONES PARTNERS FROM FRIENDS TO PARTNERS AND BEYOND

IN EVERY ISSUE 1

DEAN’S WELCOME

25

THREE REASONS TO GIVE

28

ALUMNI PRESIDENT’S LETTER

30

CLASS NOTES

32

ALUMNI RESOURCES

BUSINESS.RICE.EDU

From the Dean

DEAN + H. JOE NELSON III PROFESSOR OF MANAGEMENT BILL GLICK DIRECTOR OF ALUMNI AND CORPORATE RELATIONS JOY BROWN KIRST ’12 EDITOR WEEZIE MACKEY EXECUTIVE DIRECTOR OF MARKETING MARK RUDKIN ’08 CREATIVE MANAGER KEVIN PALMER PRODUCTION DESIGN ARTIST VERONICA RAMOS WEB MANAGER JON PAUL ESTRADA WEB CONTENT SPECIALIST TRICIA DELONE MARKETING COORDINATOR DOLORES THACKER CONTRIBUTING WRITERS ANN S. BOOR GENE BRIECK ‘10 STEVEN FENBERG DEANNA FUEHNE LAURA HUBBARD JULIA NGUYEN ED WILLIAMS CONTRIBUTING PHOTOGRAPHERS TRISH BADGER JOSH DEMOTT JEFF FITLOW MIKE HART TOMMY LAVERGNE DAVID RUSSELL DOLORES THACKER PRINTING CHAS. P. YOUNG CO.

Jones Journal is published semiannually for alumni and friends by the Jesse H. Jones Graduate School of Business.

Current and back issues of the magazine are available online at issuu.com/ricemba.

Change of Address? New job? Update the online directory with your new contact information or send us your class notes at: JonesAlumni.com.

Comments or Questions? We’d love to hear your thoughts about the Jones Journal. Send an e-mail to Joy Brown Kirst, Director of Alumni and Corporate Relations, at jkirst@rice.edu.

Aaron Wolf ’11 was inadvertently left off the list of Jones Scholars in the last Jones Journal. The editorial staff regrets this error.

DEAN’S WELCOME 2012 carries with it many events and milestones to celebrate. With Rice University’s centennial year officially under way, the Jones Graduate School of Business reflects on its own history, its growing role at Rice University and within the Houston business community, and its approach to the future. We look forward to making time for our friends, family and members of the Rice community.

In recognition of the centennial, the Jones Journal is celebrating through an exploration of the Jones School’s past. Both issues published in 2012 will look back at our programs, our people and our continued pathway to excellence. This summer will mark 10 years in our beautiful McNair Hall, and we’re bursting at the seams with students, faculty and staff.

Along with our features highlighting the accomplishments of our faculty Kerry Back and Stephen Zeff and alumni Mary Bourne-Marth, Caroline Goodner, Lee Boothby and Dan Friedkin, we have some great articles in store for you. We start with a spotlight on our namesake, Jesse H. Jones, written by Stephen Fenberg, author of Unprecedented Power: Jesse Jones, Capitalism and the Common Good, a biography that came out this past fall. Professor Ed Williams revisits the history of entrepreneurship at the Jones School, recognizing many of the efforts of Jones School faculty; part two of that series will come out in the fall issue. Through the years they have earned top 10 recognition for our graduate programs in entrepreneurship.

The big event this spring was the Unconvention — a campus-wide open house that happened during the same week as the Rice Business Plan Competition (April 12-14). To join in, the Jones School introduced a new multi-media, self-guided mobile exhibit detailing the life of Jesse Jones throughout our displays on the first floor. In an effort to build our connections to Houston, the Unconvention was free and open to the public.

We have much to celebrate this centennial year, and I look forward to welcoming you back to the Jones School and Rice University throughout the year. The Jones School has come a long way since its inception in 1974, and Rice University even more so since 1912. Together, our faculty, students, staff and alumni continue to work toward realizing our truest potential in the next century. We should all be proud to be part of that legacy.

BILL GLICK

Dean H. Joe Nelson III Professor of Management Jesse H. Jones Graduate School of Business Rice University I 713-348-5928 I bill.glick@rice.edu

BUSINESS.RICE.EDU

JONES JOURNAL | SPRING 2012 1

JESSE JONES, CAPITALISM

AND THE COMMON GOOD

BY STEVEN FENBERG

Jesse Jones, who grew up on his father’s prosperous tobacco farm in rural Tennessee, later claimed, “I got my first business training and business principles from my father in the tobacco business, and his standards and principles have been my guiding influence in all my business and public life.” Jones left school after the eighth grade, and his father put him in charge of one of his tobacco processing factories.

Young Jones questioned his ability, and his father assured him he could do the job. Jones recalled, “When he told me I could do it, I felt I could.” In addition to transmitting business skills and principles, his father instilled enduring confidence in the struggling teen.

Jones outgrew the farm, and in 1894 at the age of 20, he moved to Texas to work at one of his Uncle M.T. Jones’s large lumberyards.

M.T. Jones owned thousands of acres of East Texas timberland, sawmills to process the timber and lumberyards throughout the state to sell the finished products. He was known as a “double-ender.”

Today he would be called vertically integrated. When M.T. died in 1898, Jones moved from Dallas to Houston to manage his estate.

Around 40,000 people lived in Houston then, the city covered nine square miles and everything, including the banks, newspapers and insurance companies, was locally owned. The businessmen knew they would prosper only if their community thrived, and they simultaneously nurtured their businesses and their city.

BUSINESS.RICE.EDU

Jones quickly embraced their approach, which echoed his father’s, and it infused everything he did in business and public service for the rest of his life.

Jones also saw government as a partner, not as an opponent. In 1906, after he had started his own lumber business, he extended M.T.’s double-ender status by adding construction to the mix and convinced the City of Houston to pay half the cost of “grading and graveling” streets just south of downtown (in today’s Midtown).

Jones paid for the other half, then built small houses on what had once been muddy streets and sold them on long-term installment plans so those with modest incomes could afford to buy a home.

The judicious use of credit supercharged his efforts from then on, and the steady secure mortgage payments provided him with the means to begin building Houston’s first skyscrapers. His first three, built between 1907 and 1908, were ten stories tall.

The Houston Chronicle Building brought Jones a half-interest in the paper and a platform from which to express his views. (He would buy the other half in 1926 from publisher M.E. Foster after Foster continued to endorse “Ma” Ferguson for governor against Jones’s and the editorial board’s directives.) The Texas Company Building helped make Texaco and the petroleum industry a permanent part of the city’s business community.

“it infused everything he did in business and public service for the rest of his life...”

Woodrow Wilson and Jesse Jones: (opposite page) (left to right) Jesse Jones, Admiral Cary T. Grayson, Joseph Tumulty and President Woodrow Wilson marching down Fifth Avenue during the immense American Red Cross fundraising parade on May 18, 1918.

Rice Hotel: Although it was a bold and risky venture in the then small city, Jesse Jones built the luxurious eighteen-story Rice Hotel in 1913, just before the opening of the Houston Ship Channel.

And the luxurious Bristol Hotel, with its rooftop garden that caught Gulf Coast breezes while patrons danced and dined, elevated Houston’s stature.

Just as Jones had convinced the city government to pay half the cost of improving streets, in one of the first partnerships between the federal government and a municipality, a local delegation went to Washington, D.C., and convinced the U.S. Congress to pay half the cost of developing the Houston Ship Channel. Jones raised Houston’s half of the funds, became the first chairman of the Houston Harbor Board and oversaw the construction of the wharves and piers that welcomed ships from around the world. The success of that early partnership, known as the Houston Plan, reverberates today. Now the Port of Houston is the second largest in the nation and sixth largest in the world, and it accounts directly and indirectly for more than 800,000 jobs in Texas.

In 1914, the port’s opening internationalized Houston almost overnight, spurred the South’s still struggling post-Civil War economy and filled up all of Jones’s buildings, including several more ten-story office buildings and his new Rice Hotel. The latter was financed in large part by Rice Institute (now Rice University) and built on a block of land leased by Jones from Rice for 99 years.

Captain James A. Baker, president of Rice’s board of trustees, agreed to Jones’s request that both men’s signatures be on all of the hotel’s work orders, changes and contracts.

During his first 16 years in Houston, Jones had nurtured a reciprocal relationship with his community, intent on both building his business and improving his city. To Jones, the intentions were connected—only if the city prospered, would he succeed. The nearly concurrent openings of his lavish Rice Hotel and the expansive Houston Ship Channel epitomized the best of Jones’s diligent efforts to use capitalism to improve the common good and increase his wealth. Thousands found employment, the community flourished, and Jones’s wealth grew.

Seeing these positive outcomes, Jones would later use this same approach in public service to benefit the people of the United States and other parts of the world. The only difference was that the tangible and intangible wealth that resulted from his efforts to improve communities belonged to each nation’s citizens.

Jones’s successful development of a once small southern city and the Houston Ship Channel, his urge to simultaneously build his businesses and his community and his embrace of government as a partner appealed to President Woodrow Wilson, who offered Jones ambassadorships and a cabinet position. Jones continuously turned down the president until Wilson asked him to organize and manage battlefield and home front medical aid as director general of military relief for the American Red Cross during World War I. Jones accepted the call to duty, assigned his power of attorney to Fred Heyne, whom he called his “other self,” financed his venture by selling the stock he held as an original owner in Humble Oil Company, and headed for Washington, D.C., and the national stage.

Jesse Jones’s unique contributions during both World Wars and the Great Depression will be covered in the fall edition of the Jones Journal. Jones became the most powerful person in the nation, next to President Franklin Roosevelt, during FDR’s administration.

Steven Fenberg is the author of “Unprecedented Power: Jesse Jones, Capitalism and the Common Good,” a biography recently published by Texas A&M University Press. Fenberg was the executive producer and writer of PBS’s Emmy Award-winning film “Brother, Can You Spare a Billion? The Story of Jesse H. Jones,” which was narrated by Walter Cronkite. He produces Houston Endowment’s annual report and makes frequent presentations about the foundation and Jesse Jones.

JONES JOURNAL | SPRING 2012 3

BACK OF NAPKIN BECOMES TOP OF MIND TO

JONES SCHOOL ENTREPRENEURS

BY GENE BRIECK ‘10 Years ago, over lunch, an idea was born. Of course the common genesis of many great ideas have started on the back of a napkin or in a garage, but this idea stuck. Although it took several years to coordinate and several devoted people to make it happen, the Jones Graduate School Entrepreneurs Organization was established in the fall of 2008. That shared lunch between Professor Al Napier and serial entrepreneur Al Danto ’00 planted the seed for the JGSEO and the possibilities it could present to serve the Jones School community. With constant care and support from Shaheen Ladhani ’10, former director of alumni and corporate relations, the idea took root.

Unlike any other graduate level business school in the country, the JGSEO began as a forum for both Jones School students and alumni. It has become a place to find support, encouragement, education, and the ever-growing entrepreneur network of the Jones School, nurtured by Al Napier throughout the years.

LEARNING FROM THE MASTER

From its humble beginnings four years ago, the JGSEO has now grown to over 150 members, built multiple committees for each segment of the organization, and held events each semester including happy hours, networking opportunities and educational forums. Through the organization, members have raised money, made contacts to sell their businesses, identified business partners, and networked with those providing help along the way.

JGSEO PAST EVENTS • Small Business Acquisition luncheon with Professor Ed, Williams and alumnus Cooper Etheridge ’03 • Holiday Happy Hour, hosted by Craig Ceccanti ’08, owner of Pinot’s Palette • Speed Networking event “Networking Among Jones School Entrepreneurs” • Next Cool Idea

BUSINESS.RICE.EDU

For years, Dr. Napier has inspired his students to start and own their own companies. To show their appreciation, the leadership of the JGSEO presented him with a ‘Rice Owl’ painting (at left) JGSEO members helped create during the holiday happy hour at Pinot’s Palette, owned by alumnus Craig Ceccanti ‘08. Each participant signed his name and painted a piece of the art for the man who has been an inspiration and mentor to so many.

GERMINATION CONTINUES

Along with all the great things happening at Rice University, the JGSEO is proud to represent excellence along with the Jones School and looks forward to robust growth in membership and new alumni businesses and partnerships this centennial year. A new board is being put in place to encourage more opportunities for members to get involved, and the organization looks to be announcing another 10-12 events for the upcoming year including a business plan competition and educational luncheons.

Beyond 100 years & 100 students Launched in 2008 with a grant from the Houston Endowment, the Rice University Education Entrepreneurship Program (REEP) is finally sitting at the grown-up table. With three cohorts of graduates comes three years of measuring educational leadership and how REEP is performing. So far, students are on an accelerated trajectory in all three programs: REEP MBA for School Leaders, REEP Business Fellowship for School Leaders, and REEP Summer Institute for School Leaders. After admitting their 100th student last fall, they are now looking to the future.

“We’re starting to get traction,” said Andrea Hodge, executive director of REEP. “We’ve built a demand for a market mindset in education. Money can’t be the only answer. What we need is innovation.” And REEP delivers.

By teaching the language and concepts of running an organization, REEP is able to have a bigger impact on Houston. “I like keeping the connections between what’s happening in business and what’s happening in education,” Hodge added. REEP is building those connections not only in the classroom, but also in K-12 schools and the community as well.

With an Innovation Exchange last summer that introduced 200 public-school educators to entrepreneurs and a lecture series with such luminaries as Steven Brill and Sir Ken Robinson, author of Out of Our Minds: Learning to be Creative, REEP presents innovative perspectives that inspire action in education and leadership.

As the next 100 years at Rice University unfurl before us, REEP is ready to keep that exchange relevant. Traditional preparation programs have not selected, trained, or socialized administrators to operate in an environment of outcome-based accountability, evolving technology, and heightened expectations. The result is that districts and charter schools must scramble in seeking leaders with the inclination, skills, and preparation to provide entrepreneurial leadership.

The Rice University Education Entrepreneurship Program is an attempt to help answer this challenge. Whereas most leadership preparation reform focuses on tweaking courses, adding cohort elements, or restructuring the time commitment, REEP seizes upon the opportunity to leverage the management training in a business school in an attempt to dramatically rethink what future leaders study, where they’re trained, who they’re trained by, and how they’re selected.

THE DEMANDS OF 21ST CENTURY SCHOOL LEADERSHIP Excerpted from Educational Leadership for a New Era: The Rice Education Entrepreneurship Program by Frederick M. Hess & Daniel Lautzenheiser For all the disagreements about how to improve K-12 schooling, there is agreement that there’s a pressing need for stronger, more effective school leaders. Former Columbia University Teachers College President Arthur Levine has issued an exquisite, and intimidating, rendering of the job description for contemporary school leaders:

“In a rapidly changing environment, principals and superintendents no longer serve primarily as supervisors. They are being called on to lead in the redesign of their schools and school systems. In an outcome-based and accountability-driven era, administrators have to lead their schools in the rethinking of goals, priorities, finances, staffing, curriculum, pedagogies, learning resources, assessment methods, technology, and use of time and space. They have to recruit and retain top staff members and educate newcomers and veterans alike to understand and become comfortable with an education system undergoing dramatic and continuing change…

Few of today’s 250,000 school leaders are prepared to carry out this agenda.” See a full version at reep.rice.edu JONES JOURNAL | SPRING 2012 5

THE EVOLUTION OF CAREER SERVICES AT THE JONES SCHOOL

BY DEANNA FUEHNE

HISTORY IN THE MAKING

According to Rice Historian Melissa Kean, the Jones School relied heavily on the university placement office during the 1970s. Though that was supplemented by faculty and student efforts, Dean Tuggle hired Emily Canales in 1982, and she began building an efficient alumni network, attracting commitments from corporations for summer internships, securing on-campus recruiting, and assisting students in preparing resumes and developing interview skills.

From there, first James Rabe and then Dick Trask served as director of the career planning staff and, by 1999, Peter Veruki was on board and quickly expanded resources and company relationships.

He brought Jones School alumna Charlotte Linn Stein (’01) on board when he moved to oversee both admissions and career services, and she ran a growing career services office from 20032007. I became director of the Career Planning Center in 2006, after two years as associate director.

NEW NAME, NEW ERA

From these humble beginnings, the (now) Career Management Center (CMC) has expanded to serve a growing student population of over 600 students across four MBA programs, and over 4,000 alumni. Increasingly, the CMC partners with Rice undergraduate career services to offer seamless access to Rice talent at all levels — undergraduate through MBA and other professional masters programs, Ph.D. and alumni. In February, the two offices hosted over 100 companies for a two-day Spring Rice Career Fair. Students and recruiting companies continue to recognize the passion and commitment CMC staff brings to their roles. Over the past five years, student surveyed by The Economist have ranked the CMC among the top twenty internationally for career services.

BUSINESS.RICE.EDU

Within the past academic year, the CMC has provided students and alumni with services and opportunities, including: • School facilitated activities, accounting for 79 percent of ’11 FT program employment — a third of which were formal on- campus recruiting • 735 individual CMC counseling sessions conducted across all MBA programs from August to December of 2011 • Over 600 MBA caliber jobs have been posted for Jones School students (Sept ’11-Feb ’12) • Currently, over 950 alumni have created profiles and submitted resumes on the Jones School alumni job board, where more than 1200 opportunities have been available

LEGACIES

Former CMC staff are found contributing within the Jones School and across the Rice University campus, including Maria Johnson, Registrar, Jones School; Crystal Clayton, Director, Office of Student Services, Jones School; Marie Bergeron, Director of Admissions Development, Executive MBA Program, Jones School; Beth O’Sullivan, communications faculty, Jones School; and Nicole Van den Heuvel, Director, Undergraduate Career Services, Rice University.

As Executive Director of the CMC, I am privileged to work with a dedicated and professional team, partnering with students and alumni to meet their long-term professional development goals.

WHO EMPLOYS RICE MBAS

“

Waste Management, Inc. is North America’s leading provider of integrated waste and environmental solutions. Drawing on their resources and experience, Waste Management actively pursues waste solutions that benefit its customers, the communities it serves and the environment.

With nearly 20 million residential, industrial, municipal and commercial customers, the company’s over 43,000 employees are committed to their mission “to maximize resource value, while minimizing environmental impact so that both our economy and our environment can thrive.”

WASTE MANAGEMENT’S COMMITMENT TO INNOVATION AND ENVIRONMENTAL STEWARDSHIP REQUIRES ENGAGED, TALENTED EMPLOYEES. RICE MBAS ARE CONTRIBUTING TO THIS MISSION IN SEVERAL PARTS OF OUR BUSINESS, INCLUDING OUR F I N A N C E , S T R AT E G Y, I N V E S T M E N T, SUSTAINABILITY, AND MARKETING TEAMS.

“

ROY JOHNSTON

SENIOR STRATEGY ANALYST, WASTE MANAGEMENT UNIVERSITY OF JOHANNESBURG, SOUTH AFRICA, B COM ‘98, LL B ‘00 TULANE UNIVERSITY LL M ‘03 RICE UNIVERSITY, MBA ‘10

JONES JOURNAL | SPRING 2012 7

CAROLINE GOODNER

LEE BOOTHBY ©Michael Hart BUSINESS.RICE.EDU

DAN FRIEDKIN

PERSPECTIVES IN TIME

THREE ALUMNI REMEMBER WHEN: LEE BOOTHBY, CAROLINE GOODNER, DAN FRIEDKIN

Twenty years ago, three graduates of the Class of 1992 set off into the world with their MBAs. Today, Lee Boothby, Caroline (Caskey) Goodner and Dan Friedkin look back over the past 20 years to share their perspectives on careers, leadership, inspiration and experiences with the Jones School.

WHAT WERE YOU DOING BEFORE YOU GOT YOUR MBA? LB: I was working as a petroleum engineer.

My initial job was with Tenneco Oil Company in Lafayette, Louisiana.

CG: I spent one year working for Pepsi in Phoenix and learned I didn’t want to work for a large company!

DF: I was very involved in our family companies and spent most of my time developing and formalizing a strategic planning process for our businesses.

WHY DID YOU DECIDE TO PURSUE YOUR MBA? LB: The company I was working for (Tenneco Oil Company) was sold by its parent company. I chose to pursue my MBA to broaden my business foundation and learn new skill sets in the hope of providing new career options and alternatives. I had interest in pursuing corporate leadership roles and felt that having an MBA would improve my chances.

CG: I felt I lacked any real business training from my liberal arts education at Duke, and wanted to learn more about all areas of business since I went to Rice only a couple of years out of undergrad. I wasn’t certain what I wanted to do yet and hoped that I’d find some direction at Rice. I wasn’t disappointed.

DF: My undergrad exposure to case study and real world business situations was

limited. There’s just not enough time to cover all the base undergrad classes and have enough exposure to the things I felt I needed to know. I knew I would get much more exposure to classes that have practical application with an MBA. WHY RICE UNIVERSITY? LB: I wanted to get an MBA from a top flight academic institution whose professors and students represented the “best of the best” and could compare favorably with any of the top institutions in the country. Rice represented exactly the type of opportunity and environment I was seeking. Additionally, I had accepted a job with British Gas in Houston and was very much interested in pursuing the Flex-Time MBA Program then being offered at Rice. When I was accepted into the Flex-Time MBA Program later that year, it allowed me the opportunity to both work full time and go to school full time while pursuing my MBA. This proved to be a strong positive for me and my family and Rice was by then the obvious choice on multiple important criteria.

WHICH SKILLS GAINED FROM YOUR TIME AT THE JONES SCHOOL DO YOU STILL USE TODAY? LB: The most important skills that I learned and developed at the Jones School were in the areas of leadership, effective communication and organizational behavior theory — the psychology of organizations.

Leadership and communication skills are critical in business and there is not a day that goes by that I do not draw upon experience and education gained in these two important areas. However, the most important skill set and learning from my time at the Jones School was definitely organizational behavior theory. This was

something I knew absolutely nothing about prior to my enrollment in the Jones School and has been a very significant “difference maker” for me in my career each and every step along the way from graduation to the present day.

CG: A love for entrepreneurship. It was my first exposure to creating a business plan, and learning how to write the essential components of a business plan is critical for raising money, demonstrating you understand what it will take to make a business successful, and communicating that you have the right ingredients.

And though I was a mediocre student in accounting at Rice, I actually learned a lot.

Accounting has never been my strong suit in practice, but now I look back on the foundation I got at Rice and realize that I would have been very lost in my professional life without it.

DF: The case study courses I took are the ones that stand out most. They helped me develop a feel for how to approach a unique set of variables. There’s not often one “right answer,” but those classes helped me learn to organize my experiences to formulate better solutions.

WHAT DO YOU THINK IS UNIQUE ABOUT THE RICE MBA AND THE SCHOOL IN GENERAL? LB: The caliber of the students and faculty is second to none and thus extremely c omp e t it ive b ot h n at i on a l ly an d internationally today. The esprit de corps displayed within the student body, visible teamwork, the top flight leadership skills acquired and developed, and vibrant professionalism are infectious while providing a strong and unified foundation on which to build a career.

JONES JOURNAL | SPRING 2012 9

... I wanted to get an academic institution students represented The facilities are first class and the relatively small class sizes provide a level of familiarity and intimacy that would be difficult to replicate in almost any other institution.

CG: Rice was one of the first schools to adopt the ALP (Action Learning Project), which pairs students with real companies with real projects. It came to be after I had left Rice, but I thoroughly enjoyed working with ALP students for about six years during my Identigene days (the company I founded). We got several really helpful projects completed through that program, and I was able to see how the students just kept getting better and better each year.

WHAT WAS ONE OF YOUR BIGGEST CHALLENGES WHILE EARNING YOUR MBA, AND HOW DO YOU SEE THAT TODAY? LB: One of my biggest challenges while earning my MBA was the ongoing effort to balance the academic demands of the program with the professional demands of my job and the personal demands of my family. When I received my diploma, my wife said to me, “If we survived this, we can survive anything.” That was an accurate statement on that spring day back in 1992, and we have put it to the test on many occasions in the years since as my career has taken the inevitable twists and turns along the way. It is critically important to have a sense of balance in your life and it is something that I am still struggling with and working on today.

DF: The biggest challenge for me was juggling the MBA program with a full time job and starting a family. It was good to go through that experience and learn a bit of time management!

BUSINESS.RICE.EDU

HOW HAS THE JONES SCHOOL CHANGED SINCE YOU WERE A STUDENT? CG: Students are more diversified, class size is larger, facilities are newer, and there is a heavier focus on entrepreneurship, which I personally applaud. The Rice Business Plan Competition is the best in the world. It attracts students from other highly ranked schools, which has raised national and international awareness of Rice far higher than when I went there. When I was there, more students concentrated in finance, accounting, and were geared towards careers in larger companies. Accreditation was accomplished in a short time period, and though Rice has always been a great school, accreditation is important for national comparisons.

DF: I think the Jones School has great standing as a national business school and has really grown in positive ways with infrastructure and quality of professors.

Although we had a good taste of things to come, it’s a much more developed business school. I’m very impressed with the way it’s grown.

WHAT INSPIRES YOU? LB: I am inspired by the challenge of pursuing great achievements on an organizational s ca le in an environment w h e r e t h e achievement of the “team” eclipses anything that we could ever accomplish as individuals. It is important to follow your heart, to be passionate and enthusiastic and to “dare greatly” when the opportunities present themselves along the way.

CG: In business: successful growth companies and leaders who are respected and admired by their employees. In life: people who balance their personal lives and professional lives in a way that allows them to enjoy every day. My husband does all this — he’s a great person to emulate!

DF: I’m inspired by many things, but our kids and their development is a great motivation for me and my wife Debra. I love to fly and spend a lot of time doing that, and it inspires me and allows me to clear my head and think about how to deal with challenges.

WHAT ARE SOME IMPORTANT LEADERSHIP LESSONS YOU’VE LEARNED ALONG THE WAY? LB: The most important lesson, in my opinion, is that you must be an authentic leader — a leader who operates from a position of honesty, integrity, trust and character. There is only one road in life that is worth taking — the high road. The best test of character is “doing the right thing when nobody is looking.” Surround yourself with talented people of high integrity and character and you will go far.

CG: Everything is about people. Hiring well and appreciating the people you work with.

I try to give people freedom, autonomy, and tools to improve themselves. It’s not always easy to do that in a small company, but it’s impor tant to care about people’s development. The people I hope to work with are people that always want to grow and learn.

DF: I think failure in various business decisions along the way has taught me more

MBA from a top flight whose professors and the “best of the best”... than anything. Fairness and staying close to your values and never compromising them are essential. I learn all the time from everyone around me.

WHAT GETS YOU EXCITED ABOUT GOING TO WORK? LB: I get up each and every day excited about going to work and facing the challenges ahead. The most significant factor in maintaining that level of excitement is a genuine love and appreciation for the talented men and women whom I am privileged to work with each and every day. Life is too short to work in an environment that doesn’t excite you and keep your spirit young!!

CG: Right now in the consumer products company I work for, seeing the marketplace reaction to something new, whether it’s a new product or a new marketing campaign.

As much research as we do, it’s never clear until you’re in market what will work. In my previous work, there was substantial satisfaction in making a life-changing difference to the customers we helped through DNA testing.

DF: Being involved with great people and working with them to build our business.

WHAT ARE SOME WORDS OF WISDOM FOR OUR CURRENT STUDENTS AND YOUNGER ALUMNI? LB: Always follow your heart and do things that you are passionate about and that bring you joy and success will always follow. Study both the successes and failures of others to help refine your judgment skills and always maintain an introspective and honest selfportrait as your career unfolds.

The opportunities to “dare greatly” will

come your way during the course of your career…don’t be afraid to take a chance and pursue your dreams when they present themselves. Good luck in all that you pursue.

CG: Enjoy what you do, and treat people (including yourself) well. Life is short: be happy.

DF: Don’t be afraid to make mistakes and keep trying. It’s generally not the mistake that matters; it’s how you recover from it and redirect that leads to success. Gather input and information and then be decisive.

Keep trying always. Everyone has it in them to be successful if they try hard. Your integrity is the only thing you can control. JJ Lee K. Boothby was named Newfield’s chairman in 2010, prior to which he served as president, CEO, board member, senior vice president — acquisitions and business development, vice president — midcontinent, and managing director — Newfield Exploration Australia Ltd. Prior to joining Newfield, he worked for Cockrell Oil Corporation, British Gas and Tenneco Oil Company. Lee serves as a board member for ANGA (America’s Natural Gas Alliance) and the Independent Petroleum Association of America (IPAA) and is chairman of the board of the American Exploration & Production Council (AXPC). He is a member of the Jones School’s council of overseers and holds a degree in petroleum engineering from Louisiana State University and an MBA from the Jones School.

She joined UpSpring following the sale of her two companies: MendelWorks, a mouse genotyping laboratory that served the scientific research community; and Identigene, a DNA identification laboratory that provides paternity testing to consumers and forensic DNA testing for law enforcement and defense attorneys. Along with her MBA from the Jones School, Caroline earned her BA from Duke University.

Dan Friedkin is chairman of The Friedkin Group, a privately held group of businesses and investments primarily in the automotive industry. Its core business is Gulf States Toyota, Inc. (GST), which distributes Toyota and Scion vehicles, parts and support services to one hundred and fifty dealerships throughout Arkansas, Louisiana, Mississippi, Oklahoma and Texas. He is chairman of the Texas Parks and Wildlife Commission and oversees multiple luxury safari operators and the Friedkin Conservation Fund, a charitable organization established to conserve the wildlife and wilderness of more than seven million acres of Tanzania’s protected areas. He holds a bachelor’s degree from Georgetown University and an MBA from the Jones School.

Caroline (Caskey) Goodner ’92 is CEO of UpSpring Baby, an early-stage consumer products company focused on the health, wellness, and safety of mothers and babies.

JONES JOURNAL | SPRING 2012 11

TEACHING IS A TIME TO SHOW Mary Bourne-Marth ’87 is a bit of a thrill seeker — scuba diver, barrel racer, bareback rider, skier, and even a certified sky diver once upon a time.One might say cable television is her latest adventure. The industry itself has seen many radical changes and continues to respond, bending rapidly to new technology and overnight consolidations. Bourne-Marth can stand witness to these changes. She has worked for Showtime Networks, the award-winning premium television network, the past 20 years — and counting.

A CHANCE CALL “It’s a wildly exciting industry,” Bourne-Marth says. “Think about where we’ve come from. It’s so fast-paced. Sixteen channels to six hundred and not all of them on television.

Then there’s the Internet.” Her current role as Vice President, Key Account Marketing, encompasses the gamut of corporate marketing: from research and strategy to tactics and events with the occasional celebrity or two. Recently, she and her colleagues collaborated with fashion designer Marc Ecko on a Dexter Slice of Life social game marketing campaign.“The fun thing about being in this industry is anticipating the changes.

There’s so much to learn, it keeps my job fresh and new. Five years ago, my role did not involve social media, interactive, or online marketing to the degree that it does today.”

After graduating from the University of Missouri with a degree in economics, Bourne-Marth found herself amid a recession.

She worked at a bank for a short time then decided to return for an MBA in marketing and finance.

“I picked Rice because it’s a high quality university and was a very small school. I wasn’t just a number.” After earning her second degree in 1987, Mary was back on the job market.

She was offered a sports marketing position with Anheuser Busch that never materialized and then back at another bank before a chance call to a Showtime Networks’ blind newspaper ad proved serendipitous, landing her in the world of cable marketing.

IN MY BLOOD Bourne-Marth’s unwavering enthusiasm is hard to miss. Along with her impressive work and commitment, she has earned laudable distinctions including several industry awards and induction into the prestigious Women in Cable and Telecommunications Betsy Magness Leadership Institute.

These days, Bourne-Marth works from her home office in Houston, commuting regularly to Showtime headquarters in New York and distributor and sales offices in Atlanta, Los BUSINESS.RICE.EDU

FOR SHOWTIME NETWORKS VETERAN MARY BOURNE-MARTH ’87, WORK IS ALL PLAY

BY JULIA NGUYEN

Angeles, St. Louis, and Denver. Between that and spending time with her husband Jeff and son Carl Benjamin, volunteering with her son at SIRE, a Houston nonprofit that helps children with disabilities through therapeutic horseback riding, BourneMarth also teaches as an adjunct professor in the Jones School’s dynamic community capstone course.

“Three years ago, I received a call out of the blue from David VanHorn ’00, the lead instructor. We have a shared passion for education, so he thought I’d be a good fit for the Capstone.”

She currently manages six student Rice MBA teams tasked with developing real-world, detailed strategic business plans for community nonprofits that face a variety of mission-critical challenges. “The students are amazingly talented. I learn just as much from them as they do from me.”

In the past, she mentored in career planning at the Jones School and has served on the Jones Graduate School alumni board as president, the greater Rice board and committees. Her stepfather and mother, sources of inspiration, were both educators.

“Teaching is in my blood,” she says. “I was always surrounded by education. I even attended college the same time my mother was working toward her doctorate. We sort of grew up together.”

DON’T NEED A TITLE Bourne-Marth recalls her first taste of teaching: a classroom nestled in the middle of the jungle in Pattani, Thailand. “After high school, I didn’t know what I wanted to study. So, I applied at the Asia Foundation and took the opportunity to teach for a school year.” Strumming American songs on her guitar, Bourne-Marth “was teaching everyone from the chief of police to sixth graders for 20 baht,” less than one American dollar an hour. “It definitely wasn’t for the money,” she laughs.

Professional and personal accomplishments aside, BourneMarth says what she is most proud of is being able to teach and provide mentorship to others, whether they are students, employees, or her son. “The Thai people have an expression, ‘work is play, play is work.’ For me, teaching is the perfect intersection between work and play. But, you don’t need a title to teach. As long as I am helping people reach their goals, to figure out their passions, I’m thrilled.” JJ Mary Bourne-Marth has served as an adjunct professor of management at the Jones School since 2009. Her marketing career spans 25 years; 20 of these have been with Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Corporation. She received her Bachelor, Science of Business Administration degree cum laude in economics from the University of Missouri and MBA in Marketing and Finance from Rice University.

JONES JOURNAL | SPRING 2012 13

DR. KERRY BACK COUNTS ON EQUATIONS TO HAVE PLENTY TO SAY ABOUT PEOPLE

BY ANN S. BOOR

MODEL

BEHAVIOR

“I’m interested in understanding things and economics is very powerful in explaining an important part of the world...”

The subject of economics has long intrigued Dr. Kerry Back. Since college, he has been captivated by the fact that people actually build models that can capture human behavior and explain dayto-day phenomena.“I’m interested in understanding things and economics is very powerful in explaining an important part of the world,” said Back.

Some may argue that standard models are inadequate to express how people really operate. But the underpinning of these theories, explained Back, is that most people act rationally and in their own self-interests. In economics, selfinterest means maximizing profits and dollar values. “If you postulate that people behave rationally, you can predict their behavior to some extent and get useful mathematic descriptions, not with exact numbers, but in general terms of how people behave in certain settings.”

There is, however, the occasional surprise, with Back mentioning the recent financial crisis as an example. “People clearly did not understand how the world had changed with regard to mortgage backed securities and lending standards.”

Models have to be based on history, but Back said that not all elements of history were incorporated into the models, particularly when it came to lending standards. He found it a little surprising that sophisticated financial professionals were trading on models without adapting them to the changes in the environment in which they were operating.

Tipping Points No matter what the models are telling him, Back is not one to give stock tips.

In fact, he doesn’t think that anyone can really tell you a sure thing about an individual stock. But he’s certain of a few things. Over the past decade, there have been dramatic changes in the way stock exchanges operate. Technology is playing an increasingly significant role as executions are now measured in milliseconds, and those with data servers located at the exchanges have the speed advantage. But how exactly it will all evolve and what it will look like ten years from now—that’s speculation— interesting speculation for Back.

He’s intrigued by research studies that assess the performance of different investment strategies. Several of his students are involved in an independent project working on strategies to beat the market and manage money based on their strategies. While most of Back’s students will go into the corporate world, he believes that an understanding of investing is something every financial person in business should possess.

Back cites three varieties of generic investing models. The first is the “Warren Buffett” style; fundamental analysis, which is very hard to do and, since a lot of people try to do it, very competitive.

The second is based on price trend, buying winners and selling losers. The third combines elements of the first two, with computers helping with calculations and making recommendations.

“Of course,” Back acknowledged, “you have to program the computer so you better find things that work!”

In the classroom, Back likes to tie things together with quantitative investment strategies, using historical returns and fundamentals to build algorithms. He encourages discussions about ideas, analysis of strategies, and how to implement them.

Each time Back teaches a class, he thinks of contributing factors in different ways and often gains new insights. His broadened perspective has caused him to consider writing a second edition of his well-received 2010 book, “Asset Pricing and Portfolio Choice Theory.”

“There are some things I know now that I could do better after teaching the subject a few more times; things I should have added or done differently. You learn something new every day.” JJ Kerry Back holds the J. Howard Creekmore Chair in Finance at the Jones Graduate School of Business. Prior to joining the faculty in 2009, he was on the faculties of Northwestern University, Indiana University, Washington University in St. Louis, and Texas A&M University. He was senior associate dean and was named a university distinguished faculty member at Washington University in St. Louis. He earned a B.A. in economics at Western Kentucky University and a Ph.D. in economics at University of Kentucky. He teaches investments to MBA and Ph.D. students at the Jones School.

JONES JOURNAL | SPRING 2012 15

TEACHING AND TAKING ACCOUNTABILITY

BY LAURA HUBBARD Born during the Great Depression in Chicago — one of the hardesthit cities in the U.S., Stephen Zeff has emerged as the foremost authority on historical accounting research in the country. As a young man he gave serious thought to becoming a practicing CPA, but when one of his undergraduate professors at the University of Colorado provided the inspiration, everything changed. “Bob Wasley gave me the gift of his immense humanity, love for life, and love for teaching,” he said. “He greatly enjoyed working with students, and I like to think that it washed off on me.”

This past year marked the 50th anniversary of Professor Zeff ’s teaching career since earning his Ph.D. at the University of Michigan — including 17 years at Tulane and 34 at Rice. His office door is always open to his students, and he is generous in providing job connections through his European and American network. “I have spent thousands of hours over the years counseling students on their academic and future professional careers. Coming to know them and believing that I may have helped them make wiser decisions has been greatly rewarding.”

The Herbert S. Autrey Professor of Accounting credits both parents with providing him the needed aptitude for becoming a teacher and educator. His father was founder and president of a small industrial advertising agency. “My father was a very creative man with an excellent presence as a speaker and my mother was an excellent listener.”

ACCOUNTING HISTORY IN THE MAKING Professor Zeff ’s interest in the historical aspects of accounting escalated during his teaching career at Tulane. In the early 1960s, he became interested in the career of Henry Rand Hatfield (18661945), one of the country’s most influential accounting scholars and pioneers. Hatfield’s discussion of accounting has been described as a “white light in a previously dark landscape.” In the 1960s, Professor Zeff interviewed Hatfield’s former colleagues and students and thus developed a historical database and documentary evidence that he used to write a biographical study of Hatfield, published as a book in 2000.

Prior to the Presidential Scholar Address which Professor Zeff gave at the annual meeting of the American Accounting Association in Denver this past summer, his accounting colleagues at the Jones School sponsored a dinner in his honor to celebrate his illustrious career. Among the remarks, former Chairman of the Financial BUSINESS.RICE.EDU

Accounting Standards Board Robert Herz said, “Steve’s writings combine the skills of an investigative journalist with those of an archeologist who, through painstaking efforts, is able to thoroughly and carefully sift through the evidence, piece it together, and communicate the key points and influences about past events. He was chronicling the development of the accounting profession and standard setting abroad and, in doing so, has become internationally recognized as the premier accounting historian.”

His many interests are not limited to accounting. From playing squash and attending the opera as a supporting patron to collecting menus from great restaurants throughout the world, and being elected a member of The Athenæum — one of London’s oldest and most exclusive clubs, Professor Zeff is a Renaissance man. His contribution to the accounting profession as well as his work in documenting the history of the discipline has created a legacy, not just for one researcher, but for the Jones School and Rice University. JJ Professor Stephen A. Zeff is author or editor of more than 28 books and has written more than 100 articles. He has been a visiting professor at the University of California at Berkeley, University of Chicago, Harvard Business School, Northwestern University, and the University of Texas at Austin, and at universities in Australia, New Zealand, Mexico, and The Netherlands. He earned B.S. and M.S. degrees from the University of Colorado and MBA and Ph.D. degrees from the University of Michigan.

In the world of financial accounting, few academics have worn as many mantles or won as many awards. A partial list of his accolades includes: • More than 700 seminars or lectures at universities and conferences in more than 50 countries, in English or Spanish • Recipent of honorary doctorates from universities in Finland, Canada, and Spain • Honorary Research Fellow at the Institute of Chartered Accountants of Scotland • Recipient of International Gold Service Award by the International Federation of Accountants • Recipient of the inaugural Anthony G. Hopwood Award for Academic Leadership by European Accounting Association

JONES JOURNAL | SPRING 2012 17

Q&A

WITH CARLY FRENNEA PH.D. CANDIDATE, MARKETING

WHAT INSPIRED YOU TO EARN A PH.D.?

During my second year of the MBA program at JGSB, several of the marketing faculty informed me about the Ph.D. program that was to start the next year and encouraged me to apply. I had not considered pursuing a Ph.D. before that, but as I thought about it I realized the program was a perfect fit for me. I have always been someone who enjoys school and the opportunity it provides to constantly learn and explore a breadth of topics. The Ph.D. program and a career in academia allow us the freedom to pursue ideas and work that interests us and contribute theoretically, practically, and pedagogically.

WHY DID YOU CHOOSE RICE? Having been in the MBA program at Rice and exposed to the faculty here, I knew I wanted to stay here to earn my Ph.D. As a new program, everyone, faculty and students, is exceptionally motivated to make the program a success. Not only are the faculty highly productive in their own research, but they provide students with great guidance and support as we embark on our own academic careers.

WHAT IS THE FIVE YEAR CURRICULUM FOR A PH.D. STUDENT AT THE JONES SCHOOL? The first two years are primarily focused on coursework, especially the first year. Students typically take four classes each semester, including one or two seminars in your discipline. Students take classes at the BUSINESS.RICE.EDU

business school as well as in the economics, psychology, and statistics departments. In marketing, we also write and present summer papers our first two years, which is a great opportunity to get started on research and present it to faculty.

Now that I am in my third year (and going forward), a majority of my time is spent working on research. The research I am working on is focused on customer satisfaction and loyalty, marketing strategy, and the interface between marketing and finance. We also form our dissertations committees toward the end of our third year, followed by presenting our dissertation proposals. The last two years are focused on completing the dissertation and trying to get your work published. Marketing students go on the job market the summer before their last year and spend the first several months of that year interviewing.

WHAT HAVE YOU FOUND MOST ENJOYABLE ABOUT THE PROCESS OF GETTING YOUR PH.D.? WHAT HAS BEEN MOST CHALLENGING? The most enjoyable part is working on research. Immersing yourself in the literature, running analysis on your data, and writing an article is a really stimulating experience. It is incredibly rewarding to come out at the end with a finished article that you have spent the last year or more working on. What other careers give you the same kind of opportunity to learn and move our discipline forward?

The most challenging part is the sheer amount of time it takes each day, each week, to be successful in this program. Before I started the program, many of the professors tried to prepare me for the grueling hours, but you have no idea until you experience it yourself. That being said, when you love what you do, it makes getting through those busy weeks a lot easier.

HOW DO YOU FEEL ABOUT BEING IN THE INAUGURAL CLASS OF PH.D. STUDENTS? It is really exciting. It is important to all four of us who started together in 2009 to help out incoming students as much as possible, whether it is providing advice about what classes they should take, offering support during tough weeks, or organizing happy hours so we can get to know each other. I think that is one thing that sets the Jones School apart from other programs — we really all get along and look out for each other.

WHAT DO YOU HOPE TO DO WHEN YOU COMPLETE YOUR STUDIES? The program is heavily oriented toward research and having an academic career, which is what I plan to do when I finish.

WHAT IS SOMETHING PEOPLE DON’T KNOW ABOUT YOU? I am named after Carly Simon.

A MEMBER OF THE 2007 GRADUATING CLASS OF RICE MBA FOR EXECUTIVES, SAMEER BANDHU WITNESSED THE JONES SCHOOL TRANSFORM INTO A HIGHLY RESPECTED SCHOOL WITH A DIVERSE GROUP OF STUDENTS, BUT HAD NO IDEA THE VITAL ROLE IT WOULD PLAY IN THE FUTURE OF HIS GROWTH, BOTH PROFESSIONALLY AND PERSONALLY. SAMEER IS THE GLOBAL LEADER OF PRICING AND STRATEGY FOR GE POWER AND WATER’S AERODERIVATE GAS TURBINES BUSINESS, AND A BOARD MEMBER OF THE FIRM’S HOUSTON DIVERSITY COUNCIL; HE EARNED AN M.S. FROM MICHIGAN STATE UNIVERSITY IN EAST LANSING, AND A B.S. IN ENGINEERING FROM GND UNIVERSITY IN INDIA. UNTIL RECENTLY, HE WAS THE SITE LEADER FOR A GEWIDE HEALTHY LIVING INITIATIVE NAMED HEALTHAHEAD. THESE ARE FIVE THINGS SAMEER HAS LEARNED:

1// TEAMWORK IS NO. 1 The Rice MBA taught me what a good team can accomplish. I was lucky to have a great team at the Jones School, and I continue to have a great team at GE. I am particularly proud of the long days and nights we recently spent in response to the devastating earthquake and tsunami in Japan. Our team was the first to provide over 200 MWs of emergency power rental to the people of Japan within weeks after the disaster struck.

2// HAVE PASSION One of the keys to success is the need to feel it, believe in it and be passionate about whatever it is that you do and want to accomplish. People can see and notice it, and it makes a huge difference.

3// STRENGTH THROUGH DIVERSITY Not only has having diverse colleagues and team members helped bring out great ideas, it has helped me become more accepting to others and a better leader. Diversity comes in different forms and flavors; at GE we celebrate diversity through several affinity and diversity groups.

4// GIVING It’s important to give back to the community. There are scores in the world who are less privileged. I try to participate in as many opportunities to give back as I can. I always wish I could do more. Giving is good for the soul!

SAMEER BANDHU RICE MBA ‘07

5 THINGS I LEARNED IN 5 YEARS

5// NETWORKING IS A POWERFUL TOOL I got my last three jobs because of someone I knew. It takes effort, but a little nudge to a former colleague or a friend helps. You never know when you’re going to need that person or they’re going to need you. Get on social networking tools like LinkedIn and Facebook!

JONES JOURNAL | SPRING 2012 19

“The early classes were small, but as the Jones School grew, so did the program.”

PART I The Jones School was launched with the appointment of Dr. Robert Sterling as its first dean on April 1, 1976. Not long after that, Dr. Sterling was in contact with Dr. Edward E. Williams, who at the time was a senior officer at Service Corporation International (SCI), the largest operator of funeral homes and cemeteries in North America. Sterling wanted to know if Williams might be interested in returning to academia and coming to Rice as the founder of a new program to teach and do research in the nascent area of entrepreneurship.

Over the next few months, the two met to outline what was to become the Jones School’s entrepreneurship program. The idea was encouraged by Roger Wheeler, then CEO of the Telex Corp., whose son was in the first Jones School graduating class. Mr. Wheeler generously donated a leadership gift to get the ball rolling.

A TOTALLY NEW DISCIPLINE Named professor of administrative science in 1978, Williams agreed to join the faculty and teach entrepreneurship to the first graduating class of the Jones School. Two courses were originally offered, one on creating new enterprises and a second on buying and selling existing closely-held businesses. Williams had experience in both areas in a practical context. Thus, he further agreed to raise at least a quarter of a million dollars in funding to enhance the Wheeler gift. He was also granted the right to continue a relationship with SCI and be involved in further entrepreneurial endeavors on his own.

This was crucial to the success of the program since both he and Sterling wanted to have “real world” entrepreneurs and not just “academic types” on the faculty in this area. At the time only a handful of schools were teaching entrepreneurship and Williams attended the first Babson College Entrepreneurship Conference in 1979 to see what others were doing. Rice was in good company.

Among the schools in attendance were Harvard, UCLA, USC, Carnegie Mellon, Wharton, and Babson. These were the universities that pioneered the development of a totally new discipline.

Williams next began to recruit the first of many adjunct faculty members who were instrumental in the early success of the program. The first adjunct appointed was George Ballas, the inventor of the Weed-Eater, who taught the New Enterprise course with Williams. Ballas had not even gone to college, but he had made $40 million when he sold his company (a lot more money BUSINESS.RICE.EDU

in the 1970s than it is today.) He was also willing to teach without pay – something Williams and Sterling found particularly attractive about adjunct entrepreneurship faculty members!

The early classes were small, but as the Jones School grew, so did the program. Eventually a large percentage of MBA students took one or more courses in entrepreneurship. Also, a community outreach program was started with the sponsorship of an annual conference on “How to Start, Finance, and Manage Your Own Business.” The conference was hugely successful and had several hundred attendees each year for a decade.

GONE FISHING When Dr. H. Albert Napier began teaching Information Technology at the Jones School in 1984, there were still only 15 full-time faculty members in the school. Williams and Napier knew each other as doctoral students at the University of Texas at Austin in the 1960s and renewed their friendship and began going fishing together.

Napier was also an entrepreneur, being the founder of Napier & Judd, a computer consulting firm.

On one of these fishing trips, Ed asked Al if he might be interested in teaching entrepreneurship. The program was growing fast, but Ed was still the only full-time faculty member in the area. It didn’t take long for Al to agree, and he began teaching the New Enterprise course in 1996. By then, there were a number of adjunct faculty members, including Jerry Finger, a very successful banking and real estate entrepreneur, and Dennis Murphree, a serial entrepreneur who was also a savvy and superb venture capitalist.

Throughout the 1990s, the program grew and was accorded accolades. Ed had won the Jones School Teaching Excellence Award every year since its creation and volunteered to no longer accept it. (Al picked up the ball here and began to win the award instead.) Both Ed and Al insist that the practical nature of the underlying discipline was a major factor in their ability to teach the subject.

The story of entrepreneurship continues in the fall issue of the Jones Journal with the creation of Rice Alliance and the largest business plan competition on Earth. Special thanks to Ed Williams for his contributions to this article.

Photo: Ed Williams with students 1993

HISTORY OF ENTREPRENEURSHIP AT THE JONES SCHOOL JONES JOURNAL | SPRING 2012 21

DAILY DEAL SITES PUSH PREMIUM MEMBERSHIPS: ARE THE NEW MEMBERSHIP PROGRAMS WORTH THE MONEY? chicagotribune.com March 2, 2012 Research by Utpal Dholakia, professor of marketing, is cited in an article about daily deal websites such as Groupon.

HOUSTON ECONOMY SEES SLOW BUT STEADY HEALING chron.com January 15, 2012

by L.M. Sixel, Houston Chronicle An article includes insights from James Weston, associate professor of finance, including, “Everything I see points to a return to moderate economic growth.”

MUSIC PIRACY: RESTRICTIONS DON’T WORK

FACULTY IN THE NEWS

futurity.org October 2011

BUSINESS.RICE.EDU

left to right: Dr. Utpal Dholakia, Dr. James Weston, Dr. Dinah Vernik and Dr. Kim Kehoe

An article about the study by assistant marketing professor Dinah Vernik (and Devavrat Purohit and Preyas Desai of Duke University), which used analytical modeling to examine how piracy is influenced by the presence or absence of DRM restrictions.

THE KIDS ARE ALL RIGHT NEED A DEAL ON BUSINESS CONSULTING? HIRE B-SCHOOL STUDENTS Inc. Magazine December 2011/January 2012

by Issie Lapowsky An up-close look at a Rice MBA Action Learning Project with Chloe Dao, winner of Project Runway, and quotes from Professor Kim Kehoe.

Meeting with the students and absorbing their insights, Dao says, “was like going to therapy every week… they performed CPR on my company, and it really was a lifesaver.”

MBA ELECTIVES THAT GO BEYOND THE ORDINARY Bloomberg Businessweek January 12, 2012

by Francesca Di Meglio Energy Simulation Offered at: Rice University, Jones Graduate School of Business

Rice Alliance for Technology and Entrepreneurship was presented the 2011 NASDAQ OMX Center of Entrepreneurial Excellence Award—the highest award an entrepreneurship center can receive.

TALK THE TALK Linda Werckle can talk —and she does. Her open, observant and lively personality spins an impressive tale. What makes that so critical to Rice University in the year of its centennial? Her longevity.

“I’ve been here forever,” she quips. “Nothing surprises me anymore.” As senior faculty assistant, Linda has worked at Rice since 1987 and the Jones School since 1991. She’s seen it all.

“I love what I do. I love working for the faculty. Of course, I’m very lucky with the faculty who are assigned to me.” As she recounts the history of her position, it turns out it wasn’t until the Jones School moved from Herring Hall into McNair Hall in August 2002 that professors were even assigned faculty assistants.

“Before that I was a word processor.” But with the move it all changed and she names the faculty she assisted in alphabetical order — not wanting to show favoritism: Randy Batsell, Steve Currall, Jeff Fleming, George Kanatas, Al Napier, Barb Ostdiek, Albert Wang and Ed Williams.

She made the transition to Rice University’s development office and worked for four years before coming to the Jones School and has found the same dependency on campus as she did at Anderson Greenwood. She once overheard Al Napier say to Ed Williams, “If Linda ever leaves, we’ll have to retire.” Randy Batsell has said the same. He also adds, “In a business school where we teach how to add value, Linda Werckle adds value. She goes out of her way to help us do our jobs better.”

Her institutional knowledge supports not only her present faculty — Randy Batsell, Jeff Fleming, George Kanatas, Al Napier, Barb Ostdiek, Amit Pazgal, Richard Price, Ed Williams and five additional adjuncts — but it supports the rest of the school as well.

So much so that Sean Ferguson presented her with the “I know where the bodies are” award at a 2011 dean’s quarterly meeting.

The Bellaire native — “and I’m still there” — is a mother of two, Monica and Nathan, and the grandmother of two, Taylor and Caleb. Beneath her unwavering devotion to Rice and the city of Bellaire hides the heart of an adventurer. “I love to travel,” she says and promptly lists the places she’s been: Hawaii, Bahamas, Barbados, New Orleans, France, Singapore, Bali, Hong Kong, Alaska, the Caribbean, New Hampshire, Colorado, Florida, California, Utah and New Mexico. “A friend once told me of a great place to shop on one of my trips and I explained, ‘I don’t travel to shop. I travel to see things.’”

Her experience and understanding of where the Jones School came from help those around her forge ahead to where the school is going.

STAFF PROFILE

Married at the age of 19, she had already been working for a year at Anderson Greenwood Company, a manufacturer of high pressure safety relief valves. Her job was in an office in the machine shop typing codes into tape to run computer numerically controlled machines. “I quit when my daughter was born, but they kept calling me when they needed temporary help.

And then I did a part-time permanent job.” Finally, during her divorce, she called to see about full-time work. “I was there 10 years all together, doing customer service and power plant sales — nuclear stuff. We sent valves to Three Mile Island.”

JONES JOURNAL | SPRING 2012 23

THE FAMILY THAT GIVES TOGETHER Brothers Andrew and Jay Hawthorn took different career paths after growing up in Houston. Years later their lives converged as Rice MBA candidates in the class of 2005, though one gravitated to marketing and the other to finance. After graduation, Andrew stayed in Houston to work for HP, and Jay moved to New York to work for Lehman Brothers. Seven years later they have united again, with their parents Hubert and Kay and Jay’s wife, Catherine, to establish the Hawthorn Family Scholarship.

“Rice not only had an impact on my life and Jay’s, but on our whole family,” Andrew says.

“Our parents got to experience our growth and journey with us—as two different people, pursuing two different disciplines with different career goals. To this day, they proudly look to us for counsel and get great satisfaction out of the thought leadership that we developed in the program and have continued to develop as our careers have progressed.”

The brothers say that their parents taught them, through example, that in life one gives back to organizations that make society a better place. “It was the merging of that philosophy, that demonstration of giving that brought us together to establish a scholarship,”

Andrew explains. “We want to see the Rice MBA program continue to attract future generations of business leaders.”

TRANSFORMING BUSINESS THOUGHT “When I graduated from college,” Andrew says, “I told myself that I was done with my education. Years later, I realized that wasn’t the case. When I was at Rice, I had a very different educational experience—more intense, more focused, and with a bigger goal ahead of me. Now, I look at the world around me through a very different lens.”

Establishing a scholarship will allow another student to enjoy that same transformative experience. And what advice would he have for that scholarship recipient?

“Take the opportunity to make the absolute most of your experience. Branch out, explore new things, forge relationships. Learn from your mistakes, but don’t become discouraged.

Become the best possible brand ambassador for the Rice MBA program. You will get out of your experience exactly what you put into it, and your experience helps educate those around you. Contribute your time and talent, both now and in the future.”

ANDREW HAWTHORN IS A PRODUCT LINE MANAGER IN THE INDUSTRY STANDARD SERVER BUSINESS AT HP WHERE HE MANAGES THE STRATEGIC AND TACTICAL ACTIVITIES FOR THE SUCCESSFUL LINE OF PROLIANT SERVER BLADES. HE IS A GRADUATE OF EMORY UNIVERSITY AND HOLDS AN MBA FROM THE JONES SCHOOL. IN HIS SPARE TIME, ANDREW VOLUNTEERS FOR A FIRE DEPARTMENT IN THE HOUSTON AREA AS A PARAMEDIC AND HOLDS THE RANK OF CAPTAIN.

ANDREW HAWTHORN RICE MBA ‘05 BUSINESS.RICE.EDU

3 REASONS TO GIVE NOW LIVING IN NEW YORK WITH HIS WIFE CATHERINE AND THEIR SON JAMES, JAY HAWTHORN STAYS INVOLVED WITH THE JONES SCHOOL

BY SERVING ON THE JONES GRADUATE SCHOOL ALUMNI ASSOCIATION BOARD OF DIRECTORS, ORGANIZING ALUMNI EVENTS IN THE NEW YORK AREA, AND WORKING TO KEEP THE ALUMNI COMMUNITY TOGETHER. HE WORKS CLOSELY WITH ADMISSIONS, CONDUCTING REGIONAL INTERVIEWS AND STAYING IN CONTACT WITH ADMITTED PROSPECTIVE STUDENTS AS A JONES ALUMNI VOLUNTEERS FOR ADMISSION (JAVA) AMBASSADOR, AND AS A MENTOR TO A SECOND-YEAR STUDENT THROUGH JONES SCHOOL’S ALUMNI MENTORING PROGRAM. As a director in the Global Mergers and Acquisitions Group at Barclays Capital, Jay focuses primarily on the power, utility, and infrastructure industries. Prior to joining Barclays following its acquisition of Lehman Brothers’ operating businesses, Jay held the same position within Global Mergers & Acquisitions at Lehman Brothers. Before joining the firm, Jay was a commodities trader in various divisions of Enron Corp. Jay holds a bachelor’s degree in economics from Vanderbilt University and an MBA from Rice University, where he was a Jones Scholar.

WORTH THE INVESTMENT

These are three reasons why Jay gives:

The Jones School had such an incredible impact on my life that I feel compelled to do everything I can to give back to the program. The investment is worth it. I have such fond memories of being a student.

Beyond the academics, beyond the classroom, there is so much to be gained from the experience. That’s why I serve on the Alumni Board and represent the Jones School in the New York area, why I interview Jones School applicants, and why I spend time talking about my experience and the Jones School to admitted prospective students.

POSITIVE CHANGE

EVERY DOLLAR MATTERS

I grew up in a philanthropic household, where my parents spent a lot of time with organizations that they were committed to, putting in time, energy and money to further those initiatives. Growing up in that environment has been the foundation for my philanthropic philosophy. It has inspired me to help effect positive change either to people’s lives or organizations. Philanthropy is its own reward. I’ve been a fortunate beneficiary of philanthropy myself, either tangentially as others before me helped develop an organization with their own giving, or directly, through a scholarship I was fortunate enough to be granted when I was a Jones School student.

I give because I know every dollar matters.

It matters for a potential scholarship award to that prospective student considering the Jones School over another program. And it is important to me to give back having received a scholarship myself. The scholarship my brother, Andrew, and I initiated with our family is intended to help attract ever brighter enterprising minds to the Jones School, to carry that flag higher and help further the Jones School’s initiatives for the benefit of the entire community.

JAY HAWTHORN RICE MBA ‘05 JONES JOURNAL | SPRING 2012 25

FROM FRIENDS TO PARTNERS AND BEYOND A healthy partnership with the business community has always been essential to the success and vibrancy of the Jones School. When the Jones Partners recognized the opportunity to be of service they seized it and have, to this day, opened the doors wide to Houston and all who celebrate the collaborative spirit.

JONES PARTNERS

Begun in 1996 as a “friends of the Jones School” organization, the partners and its membership wanted to concentrate on getting the word out about the Jones School and create a strong connection between the school and the Houston business community. By 2006 there were significant changes with the corporate membership program, building more robust ties between the Jones School and top Houston businesses, and defining what both the school and the businesses should get out of the relationship.

BUSINESS.RICE.EDU

With their mission identified as opening doors to partnership among the Houston business leaders and the Jones School community, the Jones Partners needed to establish their own name recognition along with the school’s. They also wanted to be relevant and reach not only business leaders but individual members. Today, with a myriad of events throughout the academic year — from lecture series such as the round table, thought leadership and breakfast series, to special joint events with the Baker Institute and Rice Sports and Business Series — the Jones Partners are able to accomplish relevance to current and prospective members and build awareness of the school, its programs and its faculty. The variety of impactful topics for discussion and education has become the organization’s hallmark as they strive to impart participants with ideas they can implement in their businesses immediately.

“The Jones Partners not only enhance the visibility of the school,” said Bill Glick, dean of the Jones Graduate School of Business. “They truly practice their mission of opening doors by bringing in high-profile speakers from business and pairing them with Rice faculty. That distinctive approach highlights the organization’s innovative force.”

Educating and developing leaders for global business who will add value to the future of organizations and the community at large is vital to the mission of the Jones School and the Jones Partners. Along with their active commitment to the business community, the partners have the ability to award two merit-based endowed scholarships a year to full-time students. Since inception, the Jones Partners have been able to provide students with educational opportunities through scholarships — an investment in both the school and the community, with a substantial rate of return. The Jones School relies on the continued collaboration with and support of the Houston business community. The 111 members of the Jones Partners do too. The doors are open wide. Welcome.

THOUGHT LEADERSHIP SERIES

TUESDAY, APRIL 17, 2012 6:00 P.M.

Presented by the Jones Partners with the Bush Institute

SAVING MILLIONS – ENTREPRENEURIAL SOLUTIONS TO GLOBAL HEALTH AND POVERTY Eric Bing, Senior Fellow and Director of Global Health George W. Bush Institute Adjunct Professor, Cox School of Business Southern Methodist University Marc Epstein, Distinguished Research Professor of Management, Jones Graduate School of Business UPCOMING THOUGHT LEADERSHIP SERIES EVENTS

FALL 2012 • Jim Turley ‘78, Chairman & CEO, Ernst & Young • Robert Foye ‘90, Chief Marketing, Customer and Commercial Officer, Coca-Cola China • Anne McEntee, President and CEO, Process Flow Technologies, GE Energy

SPRING 2012 • Derek Mathiesen, President, Western Hemispheres Ops, Baker Hughes

FOR MORE DETAILS ON THE 2012-2013 THOUGHT LEADERSHIP SERIES VISIT: BUSINESS.RICE.EDU/JONESPARTNERS

GIVING TO THE JONES FUND PROVIDES SCHOLARSHIPS TO FUTURE ALUMNI

(left to right) Marco Baltaza, Brian Carey, Seong Hee Han, Sandeep Pandanaboyana, Haniya Main, Chris Caudle, Phoebe Wang, James Hereford and Juan Guevara, all Class of 2012.

As we approach the end of another academic year, it only seems appropriate to look back and consider the accomplishments of the 2011-2012 year. The Jones School has continued on its positive trajectory, offering the most competitive and valuable programs, continuing to receive faculty recognition, and working to ensure successful employment placement following graduation, all while enhancing its established reputation of being one of the top business schools in the nation.

Having experienced such success during the past year, we now aim to make even greater strides in our alumni giving this year.

Our goal for fiscal year 2012, which ends on June 30, is 25 percent.

One notable reason that the Jones School has been able to continue on its upward track is because of alumni giving. Big thanks are in order to all who continue to donate to the Jones School. The Jones Fund, specifically, provided scholarships to 10 students in fall of 2011 (nine of whom are pictured above.) We collectively broke records to garner the highest participation in the school’s history, 23 percent. Again, thank you!

All the best,

We look forward to another record-setting year and appreciate all that you, as fellow alumni, do in staying involved in the school’s programs. Thank you for your continued investment in the Jones School.

Will Robertson ’05 Jones Fund Co-Chair

Henry Tsang ’80 Jones Fund Co-Chair

CENTENNIAL CAMPAIGN SUMMARY AS OF FEBRUARY 29, 2012 CENTENNIAL CAMPAIGN SUMMARY AS OF FEBRUARY 29, 2012 $65 $60

The Jones Graduate School of Business is engaged in a Rice-wide capital campaign with an overall goal of raising $1 billion. The Jones School’s goal within the Centennial Campaign is $65 million, allowing us to continue to attract and develop future leaders through scholarships and to recruit and retain the best faculty as we excel at developing principled, innovative thought leaders in global communities.

MILLIONS MILLIONS

$50 $40 $30 $20 $10 $0

2005

2006

2007

2008

2009

2010

2011

FEB 12

CAMPAIGN GOAL: $65,000,000 CUMULATIVE COMMITMENTS: $39,907,585 JONES JOURNAL | SPRING 2012 27

From the President

JONES GRADUATE STUDENT ALUMNI ASSOCIATION (JGSAA) 2011-12 OFFICERS AND BOARD MEMBERS PRESIDENT CAROLYN GALFIONE ‘97 FINANCIAL ADVISOR LINSCOMB AND WILLIAMS PRESIDENT ELECT KATHRYN YOUNG ‘04 VICE PRESIDENT, OPERATIONS SIRIUS SOLUTIONS PAST PRESIDENT TED DIMITRY ‘02 ACCOUNT EXECUTIVE HAYS COMPANIES OF TEXAS BOARD MEMBERS JIM BARRY ‘84 MANAGING DIRECTOR - INVESTMENTS MERRILL LYNCH BO BOTHE ‘05 PRESIDENT & CHIEF CREATIVE OFFICER BRANDEXTRACT PHILLIP BROWN ‘08 MANAGER HEWLETT-PACKARD COMPANY DAVID CASE ‘05 VICE PRESIDENT JP MORGAN CHASE FRANCISCO CASTRO ‘02 CEO ALIANT CAPITAL S.A. DE C.V. MICHAEL CHEVALIER-WHITE ‘89 MANAGING DIRECTOR MORGAN KEEGAN MARK COURTNEY ‘94 DIRECTOR CIMA ENERGY, LTD JULIE DAVIDSON ‘04 DIRECTOR COGENT COMPENSATION PARTNERS, INC. JAY HAWTHORN ‘05 VICE PRESIDENT BARCLAYS CAPITAL JACK LEDFORD ‘02 PROJECT MANAGER KBR, INC. MIKE MCLAUGHLIN ‘07 PRINCIPAL ANALYST EL PASO CORP. DUSTIN OLSON ‘06 MARKETING MANAGER LYONDELLBASELL INDUSTRIES PIERCE OWENS ‘98 FIRST VICE PRESIDENT CB RICHARD ELLIS

DEAR FELLOW ALUMNI,

Happy New Year and welcome to the official launch of Rice University’s Centennial.

We are gearing up for an active year at the Jones School and across campus. Hope to see you at one of our many events.

At a recent Council of Overseers meeting, Joy Brown Kirst, director of alumni and corporate relations, presented the building of a best-in-class alumni function. According to an independent study, Harvard, Stanford and Booth business schools were identified as aspirant, best-in-class programs offering the following to their alumni: • Local and regional engagement • Reunions • Use of technology • Lifelong learning • Volunteer opportunities • Marketing and market research So, how is the Jones School doing in comparison? We currently offer many of these events, opportunities and tools. We have an annual alumni reunion, which is being restructured for 2012 to celebrate the one hundredth anniversary of Rice University.

We use technologies such as LinkedIn, Facebook and Twitter, provide an electronic monthly newsletter, and an online alumni directory that allows all alumni to define contact preferences, update information and use as a tool for reconnecting with each other. Our alumni audit classes, enroll in executive education courses and attend content-driven events. We provide volunteer opportunities for our alumni on the career panel, in admissions and Action Learning Projects. Finally, we use our alumni in marketing the school, both in the alumni magazine and in advertising. To help with the transition to alumni status, the school — together with the JGS Alumni Board —reaches out to second-year students to help them stay connected to the school after graduation and participate in the many opportunities available.

The question remains, how are we doing? And that’s where you come in. We’d love to hear from you about ways in which we can serve you better. Do you want more location-specific outreach? (We’re working on that now). Would you like more industry-oriented events? Do you want to mix with Rice grads as well as Jones School grads? Let us know at jonesalumni@rice.edu. Thanks.

PRISCILLA PLUMB ‘01 KIM-KAY RANDT ‘07 DIRECTOR, PRICING FOR BRANDED CENTRAL CONOCOPHILLIPS

Carolyn Galfione ’97 President, Jones Graduate School Alumni Association BUSINESS.RICE.EDU

ELY

1%

E

ALL

1.1%

1 8 .

9 %

T NOT A

A LI TTL

PROVIDE THE KNOWLEDGE 50.0% NECESSARY TO SUCCEED QUITE A LOT

2.2%

QUITE A LOT

11.

ELY

E

REM

REM

NOT AT A LL

EXT

EXT

ITTL

9%

7%

AL

38.

EXPAND YOUR 41.1% CAREER OPTIONS

36.

IN FEBRUARY 2012

THE OFFICE OF ALUMNI RELATIONS EMAILED A SURVEY TO ALL ALUMNI AT THE JONES SCHOOL. WE ARE VERY HAPPY WITH THE RESPONSES WE RECEIVED AND ARE EXCITED TO USE THIS NEW INFORMATION IN HOW WE ENGAGE ALUMNI IN THE FUTURE. WE HAVE INCLUDED ONE QUESTION AND SOME OF THE RESULTS ABOVE. FULL RESULTS OF THE CENTENNIAL ALUMNI SURVEY WILL BE RELEASED IN JULY 2012.

TO WHAT EXTENT DID YOUR JONES SCHOOL DEGREE: JONES JOURNAL | SPRING 2012 29

Global Geophysical Services rings the closing bell at the New York Stock Exchange in January. Pictured alumni are chairman, president and CEO Richard Degner ’04 (center), senior vice president — strategic initiatives Craig Lindberg ’04 (third from left), and vice president, operations — U.S. and Canada Duncan Riley ’05 (second from right).

CLASS NOTES

Congratulations to Ted Dimitry ’02, account executive at Hays Companies of Texas, for being named one of “40 Under 40” by the Houston Business Journal.

BUSINESS.RICE.EDU

In December, Hospital Corporation of America (HCA) appointed Dr. Wayne Riley ’02, president of Meharry Medical College, to its board of directors.

Luisa Hermann ’08 and husband Jeff welcomed baby daughter Sophia Grace, November 2, 2011.

Born in Princeton, NJ, she weighed 5 lbs 8 oz.

Congratulations to Lantern Award winners who happen to be Jones School graduates: for best rebranding campaign Savage Design, where Bethany Haley ’01 is president, and FlexSteel, where Melissa Pierce Bennett ’09 is on the marketing team. Bo Bothe’s ’05 company BrandExtract won seven Awards of Excellence and one Lantern Award for external website over $75k.

Jialin Li ’10 and Jun Gu ’09 are proud to announce the birth of their first child, Yuanxiang Sean Li, born on Feb 29, 2012.

Evan William Johnston was born August 31, 2011 to Caroline and Roy Johnston ’10.

Michael ’06 and Annie Bradbury ’11 joyfully announce the birth of their son, John “Jack” Sadler Bradbury, who arrived on December 18, 2011, weighing 7 lbs 9 oz and 21” long. Mike is working as an Investment Banker for Wells Fargo’s Public Finance group, and Annie is working at Amegy Bank in Private Banking.

Proud parents Daniel Fu ’04 and Irene Chang ’07 and big brothers Matthew and Jonathan welcome baby brother Benjamin David Fu on September 12, 2011. He weighed in at 6 lbs 15 oz and was 19.5” long. Congratulations! L-R, Jonathan (3), Benjamin (3 months), Matthew, (8).

CLASS NOTES

Congratulations to Stanley Kazibwe ’11 (third from left), a market analyst within the Bechtel Oil, Gas and Chemicals (OG&C) Global Procurement group.

He was named to Bechtel’s NextGen Board. NextGen is focused on the orientation, development, retention, and empowerment of employees as they begin to build their careers with Bechtel.

JONES JOURNAL | SPRING 2012 31

VISIT JONESALUMNI.COM TO LEARN MORE ABOUT THE OPPORTUNITIES AND RESOURCES FOR ALUMNI

RESOURCES ALUMNI CAREER SERVICES Lifelong support for alumni throughout their careers, including confidential access to job postings and avenues to recruit top caliber students at the Jones School.

LIFELONG LEARNING Whether you have an MBA and could use a refresher or work with someone who could benefit from training, Rice University Executive Education offers more than 100 programs annually that focus on the working executive and includes open enrollment, certificate programs, application based management programs and custom-designed programs for organizations. For more information, please visit business.rice.edu/ee.

ONLINE NETWORKING RESOURCES

ALUMNI RESOURCES

Access to the Jones Alumni Directory and official JGSB groups on LinkedIn, Facebook and Twitter (@ricemba).

BUSINESS.RICE.EDU

NETWORKING OPPORTUNITIES Jones Graduate School Entrepreneurs Organization (JGSEO) The JGSEO provides the systems, processes and social networks to bring together and support Jones School alumni with real-world entrepreneurial experiences. Details at JGSEO.JonesAlumni.com.

MBA COUNCIL OF HOUSTON (MBACH) The Jones School is a member institution of the MBA Council. All alumni are invited to the council’s events which provide a great opportunity to network with other MBAs in the area. Member institutions include HBS, Wharton, MIT, Texas, Tulane, Kellogg and others.

WHARTON-RICE MBA ALUMNI NETWORK The Jones School collaborates with the Wharton Club of Houston. The club’s network is designed to assist MBAs who are seeking employment opportunities and career advancement. All member schools of the MBA Council of Houston are invited to attend these meetings. Details available at WhartonRice.JonesAlumni.com.

RICE BUSINESS NETWORK (RBN) Connect with fellow Rice alumni for a monthly networking lunch. This is a great way to share business referrals and career opportunities while broadening your network with the Rice alumni in the Houston area. Jones Alumni Real Estate Club: A club for Jones alumni who are interested in building their network in the real estate community via quarterly happy hours and other events.

SAVE THE DATE! CINCO DE MAYO 2012 Saturday, May 5. Bring the family and come back to Rice to reconnect with old friends and faculty. Lots of food, drink and family entertainment provided. RSVP for the event at JonesAlumni.com.

GET INVOLVED Share your professional and life experiences with future business leaders in a variety of ways.

ALUMNI MENTORING PROGRAM Mentor a second-year Rice MBA student who is seeking first-hand information about prospective careers from professionals.

Through the mentoring program, alumni: • Cultivate a deeper connection with the JGSB and our students • Share professional and life experiences with future alumni and business leaders • Provide guidance in an ongoing relationship JONES ALUMNI VOLUNTEERS FOR ADMISSION (JAVA) The Jones School is actively seeking ambassadors from around the world to represent the school in attracting top-tier candidates to the Rice MBA program.

JAVA ambassadors may: • Interview prospective students • Represent Rice at recruiting events • Counsel admitted students during the decision- making process ALUMNI-STUDENT LUNCHES The Alumni-Student Lunch Series is an opportunity for current students to meet with alumni. Lunches provide students an informal setting to gain insight into professional areas of interest and to engage the alumni in current happenings at the Jones School.

SAVE THE DATE The Rice MBA for Professionals Program is celebrating its five-year anniversary June 16 at La Colombe D’Or. Join us to honor the accomplishments of alums, students, faculty and other JGSB stakeholders of one of the nation’s leading Professional MBA programs.

Drinks with the Dean

Drinks with the Dean (top left) Will & Dee Ulrich with Dean Glick Jones Partners Wright Fund Breakfast (left) Natalie Higdem ’11 (left to right) Jimmy Moffett ’12, COO; Erin Holmes, CIO ’12 (MBAP); Brian Walker, Chief Economist ’12; David Pantoja, Financials ’12 (EMBA); and Ben Exner MBAP ’13

ALUMNI EVENTS

Jones Partners Wright Fund Breakfast

Jones Partners Corporate Reception (top right) Jody Sommer, Assistant Director, Corporate Relations; Jay Fairley, Spectra Energy; Radostina Boneva Mims ’11; Chris Rogacheski ’10

FACEBOOK.COM/RICEMBA TWITTER.COM/RICEMBA

Jones Partners Corporate Reception

JONES JOURNAL | SPRING 2012 33

NONPROFIT ORGANIZATION US POSTAGE

PAID

PERMIT #7549 HOUSTON, TEXAS

P.O. Box 2932 Houston, Texas 77252-2932

2011 WINNER – TNG PHARMACEUTICALS

WHO’S NEXT? Sponsored by

World’s Richest and largest Business Plan Competition

april 12-14, 2012

RA_2012_SaveTheDate_v8.indd 1

10/11/11 10:34 AM

To download this issue to your mobile device, scan the QR code or visit business.rice.edu/jj on your device. We recommend using the RedLaser app.