Winter 2011-12 / Volume 2, Issue 2
Bringing it into
FOCUS Dean Grier at year
14 Darlene Ward Thompson Helping students hone job skills
22 Beyond Monopoly money Taking stock of student-run funds
24 Ram to Ram program Connecting students and alumni
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14 The Snead Hall atrium provides a comfortable spot for Ed Grier (second from left), dean of the Virginia Commonwealth University School of Business, to hold casual conversations with students.
Departments From the editor Newsmakers Overheard Making a difference From the boardroom VCU Business Alumni Society Class notes Calendar
2 3 11 12 20 22 24 29
ON THE COVER:
Family photos and Disney memorabilia share space with the VCU Business Ram in Dean Ed Grier’s office. On Page 16, he talks about his first-year transition from the corporate world to the university environment.
Photo courtesy Red Hat
Virginia Commonwealth University
18 16 Features 14 Bringing it into focus Just one year in, Dean Ed Grier’s corporate leadership skills cultivate an environment of excellence in the academic arena.
16 Out of Richmond and into the world Lessons learned as a VCU student translate to the global landscape for alumnus Tom Mirc.
18 VCU Business celebrates the Rams’ run to the Final Four From Richmond to Houston, business alumni, students, faculty and staff cheer on the men’s basketball team. Winter 2011-12 1
Editor’s letter It’s time to celebrate What a year it has been for the Virginia Commonwealth University School of Business! Just before this magazine went to press, we received word that the M.B.A. program (part-time) is nationally ranked (No. 51) by Bloomberg Businessweek. In 2011, we were named a top 100 Best Undergraduate Business Program by U.S. News & World Report. We were published in the Princeton Review’s book of Best Business Schools. And, we passed the AACSB accreditation maintenance review with flying colors, keeping us in the top 5 percent of business schools worldwide. The year 2012 marks the 75th anniversary of business education at VCU. Plans are in the works for a celebration, and we are in the process of collecting memories and memorabilia. Please send in your old photographs, videos, student publications, stories about favorite professors and classmates, jokes, favorite spots around campus, lessons learned — anything you think would be of interest. (We will return all items in original condition.) You might even see your images and stories in an upcoming issue of Business & Main, on the school website or other anniversary promotions. You can email your stories and photos to BizandMain@vcu.edu, or mail them to: 75th Anniversary Committee Virginia Commonwealth University School of Business Snead Hall, Room B4110 301 West Main Street P.O. Box 844000 Richmond, Virginia 23234-4000 As the new year dawns, let’s not “let old acquaintance be forgot.” It’s time to celebrate our school and all the people who have contributed to making it great! I look forward to hearing from you. Sincerely,
Katherine Oliver (M.A. ’08) Editor P.S. Between issues, join the conversation online. Look for VCU Business on Twitter, Facebook, YouTube and LinkedIn.
Correction: The winter 2010 issue included a call for alumni CEOs to connect with the school but omitted the email address, BizandMain@vcu.edu, for sending us your information. Business & Main regrets the error. 2
Vol. 2, Issue 2, Winter 2011-12 Dean Ed Grier Associate Dean, External Affairs and Executive Director, School of Business Foundation Kenneth C. Blaisdell, Ph.D. Editor L. Katherine Oliver Writer Susan T. Burtch Contributors VCU Office of Communications and Public Relations Design VCU Creative Services Photography VCU Creative Services Business & Main is published twice each year by the Virginia Commonwealth University School of Business. The views and opinions expressed in Business & Main do not necessarily represent the opinions of its editors or the policies of the university or school. Send address changes or comments to: Business & Main Editor Virginia Commonwealth University School of Business P.O. Box 844000 Richmond, Virginia 23284-4000 Email: BizandMain@vcu.edu www.business.vcu.edu ©2011, VCU School of Business an equal opportunity/affirmative action university 110113-04
FPO
NEWSmakers
At Snead Hall, Gov. Bob McDonnell adds his signature to eight pieces of clean and renewable energy legislation.
Photo Jay Paul
Lessons from Leaders aims to inspire through personal vision
Gov. Bob McDonnell signs clean and renewable energy bills at Snead Hall On June 15, 2011, Gov. Bob McDonnell signed eight pieces of legislation to promote clean and renewable energy in Virginia. The signing ceremony, whose attendees included some of the bills’ sponsors and renewable energy advocates, took place at Snead Hall. McDonnell, a proponent of energy development, said he wants Virginia to become the energy capital of the East Coast. “To achieve this goal, Virginia must take an ‘all of the above’ approach to developing wind, solar, nuclear, oil, natural gas, coal and biomass energy sources that can create new jobs in the commonwealth while moving Virginia and the nation closer to energy independence,” he said. “These pieces of legislation will foster innovation and support expansion of our domestic power generation, conservation, efficiency and resources.” The bills include directing the State Corporation Commission to consider approval of distributed solar generation facilities built and operated by a utility and special pricing of the power they generate, creation of a voluntary solar resource development fund, and a clean energy manufacturing incentive grant program. The new laws went into effect July 1.
Students capture fifth-place title in national College Fed Challenge
Markels receive recognition as philanthropists of the year
A VCU business team placed fifth at the national competition of the Federal Reserve Bank’s annual College Fed Challenge. The top four teams hailed from Bentley University, Lafayette College, Northwestern University and Rutgers University. VCU students included Logan Hudgins, Thomas Pelletier, Sean Proietti, Andrew Stephenson, Matt Wolpert and Melissa Lohmann (alternate). Professor Dennis O’Toole served as coach. The challenge hones students’ research, group dynamic and presentation skills.
The Central Virginia Chapter of the Association of Fundraising Professionals honored longtime VCU benefactors Kathie and Steve Markel as the 2010 Philanthropists of the Year. The Markels are major supporters of the VCU School of Business, the Massey Cancer Center and the School of the Arts. In addition, Steve serves as a trustee on the School of Business Foundation. The ceremony took place during the National Philanthropy Day luncheon in November 2010 in front of a gathering of 800 at the Greater Richmond Convention Center.
The second annual Lessons from Leaders Forum took place in early April. Organized by VCU’s top student organizations, faculty and staff, the presentation featured four distinguished business and community leaders speaking on “Vision: Imagination Drives Intelligence, Innovation and Industry.” Panelists shared how faith in their vision shaped their personal and professional lives. All of the speakers are founders and presidents of their respective organizations, including Tom J. Dorsey (B.S. ’75/MGMT), Dorsey Wright & Associates; Bob Kelley, Pure Culture Consulting + Mediapond; Christy Cottrell (B.S. ’79), Retail Data LLC; and Charles Dankwah, Hawknad Manufacturing Industries. The educational and networking event was open to area employers, friends, alumni and students.
VCU Board of Visitors selects Tom Snead for rector position The VCU Board of Visitors selected Thomas G. Snead Jr. (B.S. ’76/ACCT) to succeed Anne J.G. “Panny” Rhodes as rector, effective July 1, 2011. The business school’s home, Snead Hall, is named in honor of Snead, former president and CEO of Wellpoint Southeast and a School of Business Foundation trustee, and his wife, Vickie M. Snead (B.S. ’76/MKTG).
Business alumnus Tom Snead leads the VCU Board of Visitors as rector. Winter 2011-12 3
NEWSmakers
CFA challenge team makes state finals in global contest VCU’s CFA challenge team made it to the finals in this year’s global Chartered Financial Analyst Investment Research Challenge. Each year hundreds of college teams compete to write and present the best financial research report on an assigned company. The VCU team wrote a report on the NewMarket Corp. and included Evan Blanton, Kanwar Bir Anand, Andrew Stephenson and Ramzy Ismail. The College of William and Mary won the 2011 state championship.
Phi Beta Lambda makes strong showing at leadership conference Students from the VCU chapter of Phi Beta Lambda (Future Business Leaders of America) had another outstanding showing in the annual State Leadership Conference. VCU placed in 43 of the 58 topics, with 20 first-place, 13 second-place and 10 third-place winners. In addition, James Atchison, a business administration major, won the Who’s Who in PBL Award. Danny Moss, marketing major, was the alternate winner of the Mary B. McGinty Memorial Scholarship. The chapter received second place for the Local Chapter Annual Business Report; first place for the Largest Local Chapter Award, with 77 members; second
place for $50 toward ASK; and first place for the Outstanding Chapter Award, representing Virginia.
Baranoff brings experience to insurance industry think tank Etti Baranoff, Ph.D., associate professor in the School of Business, was named research director for the insurance and finance program of The Geneva Association, a global think tank based in Geneva, Switzerland. Patrick M. Liedkte, secretary general and managing director, remarks, “We are delighted to be welcoming Etti to The Geneva Association. Her experience, knowledge and wide connections in the world of insurance and finance will enable the association to step up its focused research and discourse on the implications of key Etti Baranoff, Ph.D. economic and financial developments for the insurance industry. Her home base in the U.S. will also help us to better connect with experts in North America, the largest financial market in the world.” The Geneva Association membership comprises a statutory maximum of 90 CEOs from the world’s top insurance companies.
Graduate student lands prestigious SHRM Foundation Scholarship Rachel Becke (M.S. ’11/MGMT) received a $5,000 Society for Human Resource Management Foundation graduate scholarship. Becke was one of only four students in the nation to win this scholarship and the second in VCU’s history.
Eric Simpson (B.S. ’11/FIRE) chats with Jodie Strum, president of Commercial Real Estate Women – Richmond.
Real Estate Circle of Excellence hosts speed mentoring session The Real Estate Circle of Excellence hosted 16 students and 16 mentors in April for speed mentoring at Snead Hall. The event gave VCU Business students valuable face time with local industry figures, as well as an opportunity to network for internship and career opportunities.
Business career center benefits from generous Altria donation Mary Gordon (M.B.A. ’92), vice president of manufacturing for U.S. Smokeless Tobacco (a subsidiary of Altria Group) presented two checks totaling $30,000 to the business and engineering career centers; a $5,500 check to the Epsilon Zeta chapter of Beta Alpha Psi, an honorary organization for accounting students; and additional checks to the VCU School of Engineering and the University Career Center. The business and engineering career centers used a portion of the donation to provide critical funding for the 2011 Spring Etiquette Dinner; the additional funds will support the student activities coordinator position. Altria Group frequently donates funds to the business school for human resources, accounting and finance needs. Mary Gordon (second from left) presents the Altria check to representatives of the School of Engineering, University Career Center and Career Services. 4
NEWSmakers
Student business owner turns megaphones into megaprofits
Alumnus writes winning white paper during his senior year
Brittany Rose (B.S. ’11/MKTG) started her company, More Than Cheer, in 2007, offering cheerleading programs to girls at the recreational, high school and semiprofessional levels. Rose began providing private lessons while on VCU’s cheerleadBrittany Rose ing squad and (B.S. ’11/MKTG) soon expanded to after-school programs and camps. The business now boasts 300 clients and a staff of 10 and has doubled profits in just four years. Recently, Rose was one of six finalists at the Global Student Entrepreneur Awards East Coast regional finals, an international competition that recognizes high school and college students. Following graduation, she plans to expand her business to four markets in Virginia, Maryland and North Carolina.
During his senior year at the School of Business, Kanwar Bir Anand (B.S. ’11/FIRE) became one of two national winners in a white paper competition issued by the American Association of Managing General Agents. Students submitted papers Kanwar Bir Anand on the dilemmas (B.S. ’11/FIRE) faced by organizations and individuals in the wholesale, or excess and surplus and/or surplus lines industry, and specifically where the industry is headed in the future. Evaluations were based on soundness of industry knowledge, usefulness to other members of the industry, and innovation and creativity of the paper. Anand’s paper was titled “2010 Gulf Oil Spill: Impact on the Insurance Industry & Why Oil Companies Need to COPE (Consortium of Oil, Petroleum & Energy Insurers).”
VCU stars in the spotlight Faculty and administration • The VCU Presidential Research Incentive Program made awards to four business professors in support of their research: Ken Kahn, Ph.D., “Achieving successful concept generation and evaluation: An examination of face-to-face vs. virtual organizational contexts”; Ed Millner, Ph.D., “An experimental investigation of altruistic behavior,” Myung Park, Ph.D., ”Do auditor-client disagreements signal unfavorable developments following auditor changes?“; and Laura Razzolini, Ph.D., ”Theory and experiments on profiling and terrorism: Should terrorists recruit Mrs. Smith?“ PRIP provides internal research support to develop and enhance faculty scholarship across the university.
Forum explores sustainability in an evolving global market VCU’s 17th International Business Forum, held April 6 at the University Student Commons, brought students and business leaders together to discuss “Sustainability in the Global Market Place: The Next Wave of Wealth Creation.” “The forum this year investigated how individuals, organizations and communities can survive and prosper through better insight into sustainability and its global role today,” says Van Wood, Ph.D., marketing professor and Philip Morris Chair in International Business, who moderated the discussion. “The program Panelist David Berdish of the Ford Motor Co. speaks at the 2011 forum. gave us a greater understanding of the environment we live in and suggested ways to improve the human endeavor in which we all have a stake.” Panelists included David Berdish (M.S. ’83/B), manager of sustainable business development for the Ford Motor Co.; William Godfrey, president of Environic Foundation International; and James Vonesh, Ph.D., assistant professor of biology at VCU.
Ken Kahn, Ph.D.
Ed Millner, Ph.D.
Laura Razzolini, Ph.D.
Myung Park, Ph.D.
• The National Academic Advising Association’s Advising Business Majors Commission selected Ashley Racine for its Advising Business Majors Commission Award Certificate. The award was partly based on Racine’s service as an instructor for “Choices in Business,” a course for freshman and sophomore business majors at VCU. Winter Winter 201 2010 1-12 5
NEWSmakers
Faculty experts VCU business faculty members provide analysis and commentary for national media.
“On the one hand, the term ‘kissing up’ has very negative connotations,” explained Ronald Humphrey, a professor of management at Virginia Commonwealth University and author of forthcoming book “Modern Leadership: Traditional Theories and New Approaches.” “On the other hand, a lot of people are afraid to compliment the boss because they don’t want to be seen as sucking up,” he added. But a good manager who does a good job and sticks up for employees may deserve some kudos, Humphrey maintained. MSNBC.com, Sept. 12, 2011, “No promotion yet? Maybe you’re not the boss’ favorite”
“It is a period of uncertainty with so much additional unknown about the reform. During such a period, the risk of the new regulation tilts the balance into more cautionary behavior,” and that means higher premiums, said Etti Baranoff, associate professor of insurance and finance at Virginia Commonwealth University. MSNBC.com Nov. 1, 2010, “Health care costs rising, but there are ways to tackle costs”
The study by George Hoffer, Oleg Korenok and Edward Millner of the Virginia Commonwealth School of Business, published in 2009 in the Journal of Business Research, found that changing the grille, trunk lid, taillights and some trim — a typical freshening — boosts a vehicle’s market share 10.7% within its product segment. USA Today
Another banking expert, Neil B. Murphy, says Gramm-Leach-Bliley also was the result of Congress’ recognition that the separation of commercial and investment banks promised by Glass-Steagall, had already broken down piecemeal over the years. “This occurred due to a process of technological change, product innovation and regulatory actions that had given the large institutions much of what they were supposedly denied by GlassSteagall,” says Murphy, professor emeritus at Virginia Commonwealth University School of Business and an adviser to the Banking and Financial Services Program in the Treasury Department's Office of Technical Assistance. Virginia Business July 29, 2011, “Did Congress learn the right lesson this time?”
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The sensitivity of job-hunting while employed — and keeping the process under wraps — varies from industry to industry. Dr. Robert Trumble, professor of management and director of the Virginia Labor Studies Center at Virginia Commonwealth University, says that it can also depend on the corporate culture. “In some, it could be the kiss of death,” he says, while other fields such as the tech industry, where talent is at a premium and individual skills are highly appreciated, fielding outside offers is expected. Forbes Aug. 17, 2010, “How To Hunt For A Job From Work And Not Get Caught”
April 26, 2011, “Research backs Ford: Updating a car’s look drives profits”
Researchers at Virginia Commonwealth University (VCU) suggest that gauging emotional intelligence may be an indicator of how well employees will perform in their jobs. “Emotional intelligence is the ability to perceive emotions in oneself and in others. (It is) awareness of body language, for example. It’s also the ability to control and handle frustration and other emotions,” said Ronald Humphrey, a professor of management at that university who carried out the research. Reuters Oct. 27, 2010, “Emotional intelligence seen as key to job performance” – Contributed by Tom Gresham, VCU Office of Communications and Public Relations
NEWSmakers
VCU’s da Vinci Center offers first-ever Master of Product Innovation After VCU’s da Vinci Center for Innovation launches the nation’s first-ever, cross-disciplinary Master of Product Innovation program next fall, there should be a sudden increase in T-shaped individuals. “The more traditional I-shaped individual is straight up and down, anchored in one discipline,” explains Kenneth Kahn, Ph.D., director of the da Vinci Center. “We aim to stretch people — to create a T-shape — which is still anchored, but can span across disciplines. That’s a good way to explain our program.” Yet the new degree is anything but basic. To begin with, it was created through a unique collaboration between VCU’s schools of the Arts, Business and Engineering. The comprehensive program offers a twoyear, 30-credit-hour practical experience that prepares graduates to immediately step forward and fill positions as leading innovators of products and services. “The introduction of this program is timely, as much attention has focused on the importance of innovation to future economic prosperity,” Kahn says. “There is a particular interest in having universities instill the spirit of innovation among students and faculty.” The program begins with an intensive, two-week boot camp and culminates with the actual development of a product. “Cross-functional teams learn how to balance the best of each discipline,” Kahn says. “For instance, engineers learn how to talk to artists. They take art course work — even learn to draw — so they can apply sculptural principles to innovation.”
Kahn is especially pleased by the reaction of the State Council of Higher Education for Virginia. “SCHEV board members were so impressed that the deans of all three schools were on board,” he says. “They said everyone seemed very genuine, and they liked that we spoke from the heart.” Classes officially begin in August 2012. Kahn plans to use the upcoming semester for publicity and recruitment. “Our hope is to get students from all disciplines who want to enhance their undergraduate degree in a very hands-on way,” he says. “We’ve already had a number of companies express interest in sending their people.” For more information about VCU’s da Vinci Center, visit www.davincicenter.vcu.edu. To apply for the Master of Product Innovation program, email Ken Kahn at kbkahn@vcu.edu.
The da Vinci Center’s mission • Prepare students to enter a product innovation career • Catalyze innovation through collaboration among the disciplines of the arts, business and engineering • Serve as a resource for advancing interdisciplinary innovation and technologybased entrepreneurship
The M.P.I. program exemplifies Ken Kahn’s goal to transform the da Vinci Center into a national model for a center of innovation at a university. Winter 2011-12 7
NEWSmakers
Faculty research David H. Downs, Ph.D.
W
hen it comes to real estate research, David Downs keeps an eye on the big picture, focusing on investment issues and the implications of regulation. Downs, who holds the Alfred L. Blake Chair of Real Estate and serves as director of the Kornblau Institute at the Virginia Commonwealth University School of Business, has written for various scholarly journals, including Real Estate Economics, the Journal of Real Estate Finance and Economics and the Journal of Real Estate Research. He’s often asked by reporters for his expert opinion, and he currently serves on the editorial board of the Journal of Real Estate Research. Downs recently spoke with Business & Main about his research interests, his enthusiasm for cross-disciplinary collaboration and his advice to inexperienced buyers and investors. Tell us about your research. My research training is in financial economics. Early in my academic career, I had a particular interest in a class called “Real Estate as an Asset for Institutional Investors.” As I was working on my Ph.D., there was a growing appreciation for institutions that wanted to diversify their portfolios with stocks, bonds and buildings. However, there are significant challenges in operationalizing an investment strategy that includes real estate. Real estate is not necessarily priced or valued the same way as publicly traded stocks and bonds. Real estate information is, arguably, more difficult to gather and qualify. The management of a real estate portfolio presents unique issues for an investor, especially relative to an investment strategy that relies on passive index-based investments. Many issues contribute to the risk and complexity of real estate as an investment: agency issues, conflicts of interest, performance measurement and ownership structure. Some of my earliest work revolved around the real estate investment trust as an investment vehicle for real estate. I have also examined the relationships among REIT information releases (such as earning announcements), capital distribution policy, analysts’ forecasts and liquidity. Because most REITs trade in public markets, they offer a unique opportunity to study issues specific to real estate 8
or, in certain cases, general issues related to financial economics. In this area, my work has had an impact on how real estate managers view the dissemination of information and investor relations. It has also offered insight for traditional private market investors who are venturing into the vicissitude of capital markets pricing. Another aspect of my research considers real estate markets in general and the economics of information in particular. Some of this work has related to real estate indices and, more recently, appraiser licensure and certification. This seems particularly relevant and interesting to me since some of the recently proposed regulatory changes mirror the regulations adopted following the savings and loan crisis in the 1980s.
How has the Kornblau Institute funding helped you address real estate issues? We are very fortunate in the fact that Sam Kornblau understands and embraces the need for interdisciplinary study of real estate problems. VCU has a strong commitment to becoming one of the nation’s top research universities. At the same time, we are committed to engaging in the life of our community and creating knowledge that impacts today’s decision-makers. One of the challenges here is that faculty experts are, typically, experts in a specialized field of study. Certainly our faculty
Publication highlights Downs, D. H., & Güner, Z. N. (in press). Information producers and valuation: Evidence from real estate markets. Journal of Real Estate Finance and Economics. Chen, H., Downs, D. H., & Patterson, G. A. (in press). The Information content of REIT short interest: Investment focus and heterogeneous beliefs. Real Estate Economics. Downs, D. H., & Güner, Z. N. (2000). Investment analysis, price formation and neglected firms: Does real estate make a difference? Real Estate Economics, 28(4), 549-579. Downs, D. H., & Slade, B. (1999). Characteristics of a full-disclosure, transactionbased index of commercial real estate. Journal of Real Estate Portfolio Management, 5(1), 95-104. Downs, D. H. (1998). The value in targeting institutional investors: Evidence from the five-or-fewer rule change. Real Estate Economics, 26(4), 613-649.
NEWSmakers
VCU ranks as one of the most productive sources of top-flight real estate research in the world. 1973-2008 VCU ranks 23rd among academic and nonacademic research institutions worldwide: 250.49 pages.
250.49
David Downs ranks 33rd among hall of fame authors with the most publication pages: 119.08.
2006 The Kornblau Institute forms.
1998-2008 VCU ranks 14th among U.S. universities based on the total number of pages published in three top-tier, real estate-focused research publications: 172.26 pages.
Contributing researchers include Kenneth Daniels, Ph.D.; David H. Downs, Ph.D.; Richard A. Phillips, Ph.D.; and Brent C. Smith, Ph.D.
172.26
What advice do you have for the inexperienced buyer or investor? One of the most fundamental ideas we present in our courses is the duality of real estate as a consumption good and an investment. I think if more individuals embraced this concept and understood the implications of excessive consumption, there would be fewer financial missteps in housing and commercial real estate decisions. Simply stated, young consumers and young businesses alike need to understand the causalities they observe. Big houses and flashy corporate spaces do not result in wealth. If anything, the causality might run in the other direction. One of my greatest privileges in life is getting to share a host of “rich dad� concepts with my students in the context of a rigorous real estate curriculum. The advice I offer is to invest first in your education, find what you can be passionate about and defer some gratification until you are appropriately wealthy. Then invite me over to your big house!
Page count
119.08
members are well-versed as generalists in certain areas, but what sets academic researchers apart from most practitioners is a highly focused area of expertise. Real estate is interdisciplinary in practice and in principals. The most vexing problems in real estate are not adequately addressed within the context of a single discipline. And so the Kornblau Institute has provided us with a forum to bring together some of the leading experts in the university and the community to address real estate-related issues. Going forward, our intention is to create additional incentives for experts to collaborate in cross-disciplinary ways, so they can address topics as primal as housing and its impact on education and health.
Winter 2011-12 9
Because extraordinary women
were meant to lead Propel your career and leadership skills to new heights by participating in this six-day professional development program. Our carefully designed and highly interactive learning environment will instill: • Increased self-awareness, clarity and vision • Powerful strategic thinking and decisionmaking abilities • Techniques for impactful communication and influence • Sustainable work-life balance practices Add to these a lifelong network of women leaders and the results are not only immediately applicable to the workplace but lasting.
Extraordinary Women Leaders Program All VCU School of Business alumni
• The first student cohort is under way and the program is now accepting applications for the second class.
receive a 10 percent discount, with group discounts also available. For complete program information,
• Space is limited to 24 participants, so reserve your spot by applying today. Applications are currently under review.
contact Jean Gasen at (804) 828-3165 or jbgasen@vcu.edu, or apply online at www.go.vcu.edu/EWL.
Center for Corporate Education
VCU School of Business Foundation
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OVERheard
Spring 2011 Career Fair buzz What is your dream
job?
“Become a financial analyst. I’m preparing to take the CFA exam after I graduate. I’m from South Korea. I’ve spent the past seven years in the U.S., but since I don’t have family and friends here, I know networking is critical.” Joohyuk Jang, senior Double major in finance and business administration and management
“Have my own CPA firm — so I like the career fair that’s just for accounting majors. But accounting is not only tax or auditing; you can work for any firm. So it’s helpful to learn more about what different companies do.” Viktoriya Shaw, senior Accounting major
“Keep an open mind about the degrees they have and how they can be leveraged into the IT industry. We’re actively recruiting for IT, but with general business majors, we send their information on to our HR department.” Rusty Accashian (B.S. ’99/INFO) IT director, Capital One
“I want to be a CEO in the corporate world. I have a passion for business. With the economy the way it is, I’d like to personally uplift it and bring more jobs to the field. For now, I’ve put in applications all over.” Robert Small, freshman Currently holds a part-time job with Richmond Public Schools
What is your best advice to students? “Be professional in the way you dress and communicate. That means marketing yourself and having your 30-second speech ready. Show a passion to succeed. We’re looking for people who align with our values, mission and goals.” LaToya Peace (B.S. ’07/MGMT) Leadership development specialist, Altria Group Inc.
“Do good research in the field and on the company. Make eye contact. Have a little bit of knowledge. We ask a lot of questions, and most of the time I can tell if a student is prepared or not.” Priyanka Patel (B.S. ’06/MGMT) Auto claims adjustor, Travelers Insurance
Winter 2011-12 11
MAKING A
difference
Darlene Ward Thompson
Focusing on students By Susan T. Burtch The first thing you notice about Darlene Ward Thompson, is that she is tall, very tall. “I’m 6’2” without heels,” she says. Then comes the sly grin: “… but I usually wear heels.” Thompson is easy to spot as assistant director of VCU Business Career Services. But that’s not because she’s tall, it’s because she’s everywhere at once. She counsels students and writes a regular blog. She gives lectures about the process of finding a job, and then meets with prospective employers to convince them they should offer those very jobs to her students. Her phone rings constantly, and her calendar fills up fast. “Right in the middle of my speaking to a class, the students are writing me emails on their laptops, asking for a counseling appointment,” Thompson says. Clearly the draw is either chemistry or a difficult job market. Realistically, it may be some of both.
Find your passion “What I hope to convey to my students is that they want to feel passionate about what they do,” Thompson says. “I get disappointed when I hear them driven by the dollar. It’s not a new thing, but it is reality. I love my job. My students are my inspiration; they’re my source of energy. I like to help people. To succeed, you need to do what you love.” Thompson has no lack of stories about those who have obviously found their niche. “When I work the Career Fair, I normally look for my students,” she says. “If they have fear on their face, I go over to make sure they’re OK. I say, ‘Let me introduce you to someone.’ But the real joy comes when I see the employers who are recruiting there — and wow — I recognize my former students!” 12
Help yourself Beth Lamothe-Home (B.S. ’07/ MGMT) is a former student. When she graduated in 2007, she was in her late 40s with two children and prior work experience. Now a DLA aviation acquisitions specialist, Lamothe-Home claims Thompson changed her life. “She pushes you to recognize who you are. She’ll go above and beyond to help, particularly people who are trying to help themselves,” she says. Lamothe-Home clearly remembers meeting the career counselor for the first time. “She made a big impression on me when I first heard her speak. A year later, I saw her in the cafeteria. She immediately walked over to me and said, ‘Why haven’t you called me yet?’ So, of course, I did.” Thompson’s expertise is a combination of training and experience. She holds two master’s degrees: one in business and one in education. This is her 18th year working in academia. She started in financial aid as a director, managed the
Welcome Center in admissions and then moved to the career office. And though counseling is a job that extends long beyond her official working hours, Thompson says her family understands — except for maybe the five dogs. Her husband, Pat, works in sales, so he too values the importance of customer satisfaction. And since her son, Evan, started pre-K, he has been busy with his own activities and friends. “Even though Darlene’s hours are 8 to 4, at 9 at night, you’ll get an email from her,“ says Timmy Nguyen, a senior business administration and management major. “And she absolutely doesn’t stop, even after you have a job. She goes to the next level. She calls you consistently to keep up, and she has even come on-site to visit me at both of my jobs.”
Get the job Thompson estimates she’s helped “hundreds and hundreds of students” find jobs and focus
Work the job market.
Do what works.
Here, Thompson shares her best advice to students. To her own amusement, and aided by the gift of hindsight, she realizes she instinctively knew these guidelines in the context of her own career path, whether she followed them herself or not. “I guess I counsel students by example because I have been where they are now,” she says.
Focus on what you love
Set yourself apart
Back when I was an undergraduate, I took a career inventory, but I didn’t pay any attention to it at the time. Of my three areas of demonstrated interest, I now remember two of them: teacher and career counselor.”
“
I’d talk about my height so employers would remember me. At an interview, for instance, I might say, ‘At least I’m the tallest candidate you’ll see today.’ A little humor never hurts.”
Develop your leadership skills
Get an internship or work-related experience before you graduate
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Darlene Ward Thompson (right) talks with graduate student Rebecca Snyder.
“
I needed to demonstrate that I could make decisions quickly and lead a team. As an introvert, this was not an easy thing for me to do, but I stepped out of my comfort zone. I joined the American Marketing Association and became very involved.”
on careers. But people often want to know, “exactly how many placements?” In fact, that is valuable data for the School of Business, and Thompson is relieved the Career Services recently hired a quality, planning and performance manager who will soon be able to translate her approximation into quantifiable numbers. One reason placement data has been so difficult to capture is what Thompson calls “multiple touch points.” A faculty member asks her to make a presentation in class. Students call for an appointment and use the many resources the Career Services offers. They practice interviewing with an alumni volunteer and eventually land a job. “So who is responsible for that student’s employment?“ Thompson asks. “All of us!” Susan T. Burtch is a freelance copywriter based in Richmond, Va.
“
I stumbled into mine as a way to pay for my M.B.A. I became a graduate assistant in financial aid because it was the only internship left. But it opened the door for my counseling career.”
Darlene’s Business Blog . . . . . . . . . http://blog.vcu.edu/dward “So many success stories!” begins a recent entry. How can any student fail to feel motivated? Thompson posts regularly — available internships, job openings, announcements, events and practical tips ranging from researching positions to preparing for an interview.
The career preparation process Student
VCU Business Career Services
Emails to request an interview
Schedules personal interview
Writes resume and cover letter
Helps refine and edit resume and cover letter
Starts scouting job opportunities
Encourages students to register on RamsRecruiting database
Secures a job interview
Sets up mock job interview for practice
Networks with employers
Plans career-related events
Accepts a job
Publicizes student’s achievement
Winter 2011-12 13
Bringing it into
FOCUS Dean Grier at year
By Susan T. Burtch
It’s been a year now since Ed Grier became dean of the business school, and already change is evident. Marketing department Chair Mike Little, Ph.D., has perhaps the quintessential story — an incident he related Follow Dean Grier on Twitter @EdGrier 14
while introducing Grier as guest speaker at a Rotary Club meeting this past February.
Apparently Grier asked his department heads to get together and determine the top journals in their respective fields. With the increased emphasis on research at both Virginia Commonwealth University and the business school, it was important to identify the premier peer-reviewed publications. Consulting with faculty in their departments, the chairs went to work. Little smiles at the memory. “I told the dean, ‘This is going to get messy. If we have 100 faculty members, then we’re going to have 100 opinions.’ Later, when the chairs met to deliberate, Grier smiled as he warned, ‘Well then, no one comes out of the room until I see the white smoke.’” Little, who has been at VCU for 27 years under five different deans, says, “I found his approach refreshing. I enjoy working with Ed. He gives the chairs latitude to work within their departments, but he brings a no-nonsense, bottom-line approach.”
‘At a crossroads’
“I wasn’t the traditional choice for academia,” admits Grier, referring to his 28-year career at Walt Disney Co. “But we now have a new president of the university and a new dean in the business school. We can drive the agenda differently. And it’s time. We’re at a crossroads: the country, the government, education in general and VCU in particular. We must rise to this opportunity and make a change for the better.” Alumna Adele McClure (B.S. ’11/ECON) thinks Grier has already started. As a senior business economics major, she served as president of the Student Government Association on the Monroe Park Campus. “I served on three or four different committees with him,” she says of Grier. “He’s receptive. He listens, but he does something about it. And he’s done that since his first day on campus. He sort of just jumped right in.” Whether on campus or in downtown Richmond, Ed Grier (right) seizes opportunities to talk with students and community leaders, such as Greg Wingfield, president of the Greater Richmond Partnership Inc.
Grier finds it energizing to build from a position of strength. “When I first arrived, my biggest surprise was the passion for the school — not just among the students and the faculty, but in the greater Richmond community. Civic and business leaders embrace the School of Business. It was amazing at all levels. I didn’t expect that.” Yet during those early months of his tenure as he was first getting acquainted, Grier says he heard a variety of differing viewpoints. So he commissioned a study by the VCU Performance Management Group. “I wasn’t getting the depth of feedback I needed,” he explains, “so I decided to be proactive.” The PMG study involved one-on-one interviews with 125 faculty and staff members in the School of Business. “It was wide open, unfiltered, anonymous. They could say whatever they wanted,” he says. “It took longer than I thought, but it was helpful. A number of themes emerged, ranging from ‘communication’ to ‘connection’ to ‘Richmond.’”
CLASSIC GRIER
“ I’m not tired of being out there. I enjoy interaction, and learning from the perspective of others.” Into the future
Yet long before the PMG results came in, Grier had started to make improvements. When asked to name his biggest accomplishments in year one, he ticks them off on his fingers: restructuring the school’s internal organization, instituting a monetary rewards and recognition program for faculty and creating a new position focused solely on engaging alumni and students. So what about next year? “Spectacular branding!” Grier’s smile widens. He waves his hands. “We’re good now, but what will we be famous for? The quality of our students, the quality of our research, the quality of our curriculum and overall student experience. We’ve got to raise the bar on all fronts.” Plans are still in the works, but Grier says the School of Business will soon be recruiting undergraduate students for the first time in its history. That’s exactly what is needed right now, according to Gil Minor, board chairman of Owens & Minor, a School of Business Foundation trustee and a board member of the State Council of Higher Education for Virginia. “What Ed has done is open the door to change and opportunity,” he says. “He’s determined to put VCU on the map. You’ve heard the saying ‘cream rises to the top.’ Well, the school needs to make sure that the students who come here succeed. Ed is creating an environment of excellence where that can happen. He brings great energy. It’s exciting.” Susan T. Burtch is a freelance copywriter based in Richmond, Va. Winter 2011-12 15
Out of Richmond
By Susan T. Burtch
and into the world Just a few weeks into his new job with Red Hat, Tom Mirc (B.S. ’02/MGMT) found himself talking with a software developer in Poland, a subject matter expert in China and an analyst in India — so he could pull together their information in time for an executive meeting in London. It’s a common scenario at Red Hat, an S&P 500 company, leader in enterprise Linux and the most recognized open source brand in the world. “I was used to working in the U.S. with primarily U.S. contacts,” Mirc says, “but now I’m working with people all over the world. You have to learn the global clock almost immediately and then orient all your communications around it.” While Mirc says VCU did a great job preparing him for his position as supervisor, Global Support Services Business Systems, in Red Hat’s information technology department, the constant demands of a global practice are new to him. “Going through school, I always had the notion of the work approach my parents grew up with — mainly 9 to 5, a 40-hour workweek with maybe a little more here or there. But I’m in a global job now with no geographic borders. I’m never going to work just 40 hours a week and rarely ever just between the hours of 9 to 5 U.S. time.” Yet as Mirc is quick to point out, neither is anybody else. ”Instantaneous global communication is changing the work landscape,” he says. “We need to be able to react very quickly now. You don’t have time to do extensive research. You have to have confidence in your knowledge of the subject matter and make the best decision based on current circumstances, without the luxury of additional time and resources.” Another difference has been the ethnic diversity of his colleagues. Mirc works at Red Hat corporate headquarters in Raleigh, N.C., where a significant number of his co-workers hail from Asia, Europe and the Middle East. “It was evident pretty early on that VCU prepared me for that. VCU is somewhere in the top 10 percent nationally in terms of student diversity, and in business education especially, the school stresses working on teams, doing joint projects,” he says. “As the technology industry moves more toward global collaboration, everyone is going to have to get comfortable working with other cultures and using different approaches to solve business issues.” Mirc did not know any of his co-workers when he started at Red Hat. About a year later, realignment within the organization gave his department a new director, whom he looked up on LinkedIn. As it turned out, J. Nick Otto (B.G.S. ’93) was also a VCU graduate. 16
“It was a nice surprise,” says Mirc, adding he is proud of his VCU education and the fact that his degree translates to the workplace outside of Richmond. “Here at Red Hat, the best players are put in positions of prominence. If you have a valuable skill set to bring to the table and you are well-versed in technology, you can add value to your projects every day. Then, you can ultimately progress to a leadership position.” “My perspective,” adds Otto, senior director of IT Business Systems, “is what happens with professionals after eight to 10 years in the field and a few years of management time. What I see is that the more successful folks don’t have a specific background. Broad exposure, with a breadth of experience and education, better equips managers for leading in the technology sector. Then you can draw from that experience no matter where you land.” Susan T. Burtch is a freelance copywriter based in Richmond, Va.
Mirc on his most valuable courses Organizational Communication
Finance
“ My advice to undergrads is to take it and pay
“ You cannot be competitive in the marketplace without a firm understanding of more complex
common sense, but it’s not just that. It outlines
financial principles. This class gave more than
actual challenges you’ll see in the workplace.”
just the basics.”
Photo courtesy Red Hat
attention to the principles taught. It seems like
Strategic Management “ Here’s where I first saw real-world business problems, and as a team we had to come up with solutions. It was great practice, since that’s pretty much what I do now.”
Winter 2011-12 17
Photo Scott K. Brown Photography
Photo Chris Owens
Celebrating the Rams’ run to the Final Four
3
1
Photo Chris Owens
4
2
2-3. The “Honk for Hoops” rush-hour campaign brings March Madness to the streets as students gather on the sidewalk outside of Snead Hall to encourage passing executives to honk their car horns for the Rams. 4. Joey Rodriguez connects with fans following the Rams 74-56 win over Georgetown University March 18. 18
Photo Kyle LaFerriere
1. Jamie Skeen powers over a Butler University player during the Final Four game in Houston, April 2.
5
6
5. Head coach Shaka Smart celebrates with thousands of Ram fans at the Stuart C. Sigel Center after the team’s 71-61 win over the Kansas Jayhawks. 6. M.B.A. faculty and staff members show up strong for Rams at Work Fridays. From left: Stacey Friedl (M.Ed. ’08), Jon Hill (B.S. ’85/ACCT/INFO; M.B.A. ’99), Erica Lamberta (B.S. ’09/MKTG), Jana McQuaid (M.B.A. ’02), Heather Maranzano, Ed Grier and Bill Miller (M.B.A. ’89).
Photo Timmy Nguyen
7. VCU Business students in Houston for the Final Four game show their school spirit.
7
Winter 2011-12 19
FROM THE boardroom
Student Managed Investment Portfolio
Together, students (from left) Karan Gupta, Andrew Holpe, Andrew Stephenson and Nilufer Nilly Ozcan lead a team of VCU students who manage a $100,000 portfolio for the VCU School of Business Foundation.
$120
Students beat S&P
$110
Q3 2010 VCU: $98.5 S&P: $93.5
$100
Q4 2010 VCU: $104.4 S&P: $103.3
$90
Q1 2011
Q2 2011 VCU: $115.2 S&P: $110.0 20
$80
VCU S&P
VCU: $112.4 S&P: $111.3
Q3 2010
Q4 2010
Q1 2011
Q2 2011
Beyond monopoly money By Susan T. Burtch In the Capital Markets Center, some 20 young adults engage in a serious discussion about children’s toys. “They’ve got a new DS game,” offers one. “Yeah, but it’s an old-school racing game,” counters another. “And kids just don’t play that stuff anymore.” “What about that Barbie dressed in a sari they just introduced in India?” Karan Gupta (B.S. ’10/FIRE), the graduate student leading the class, grimaces. “Yeah, I saw it when I was home. Barbie isn’t new in India, and Barbie in a sari is no big deal. Kids over there are gravitating more toward Western culture.” At this point, Cory Bunting jumps in. As associate director of the Capital Markets Center, he wants to make sure the conversation stays on point. “OK,” he says, “but is Mattel cheap enough to keep? It has a 3.7 percent dividend yield. We bought it based on an expectation of overseas growth that has not materialized. So is it a growth stock or a value stock? And if it’s not a growth stock, does it still belong in our portfolio? Sell, replace or hold?” That is indeed the $100,000 question: one these students ponder daily. Since spring of 2010, they have been entrusted with that exact amount — a portfolio of real money they manage for the Virginia Commonwealth University School of Business Foundation. Their investment approach is GARP (Growth At a Reasonable Price).
FROM THE boardroom
S&P 500
Student portfolio
IT and telecom
21.1%
18.4%
Industrials
11.0%
15.3%
Health care
11.8%
14.8%
Energy
12.6%
14.1%
Consumer discretionary
10.6%
9.4%
Financials
15.0%
8.8%
Consumer staples
10.9%
8.7%
Materials
3.6%
6.2%
Utilities
3.4%
4.3%
Student portfolio distribution
Students research stocks individually but make the buy/ sell decisions as a team. Their two-hour weekly meeting is not a class, nor do they receive academic credit, but the experience clearly gives them an edge in the job market.
Experience counts “Participating in the Student Managed Investment Portfolio gives these students another layer of finish in the practical management of funds before they go out into the real world,” says Kent Cox (B.S. ’78/MGMT), who serves on the business foundation’s Finance Committee. He’s also a senior vice president and director at Morgan Stanley. “We hire interns but only exceptional ones,” he explains. “When I see the student fund on an applicant’s resume, it just screams ‘exceptional’ to me.” “We have a passion for this,” Gupta confesses. “All of us, even juniors. They read the Wall Street Journal and Yahoo Finance every morning before they come to school. They’re up on the latest news from around the world.” Andrew Messer, a senior finance major, transferred to VCU from John Tyler Community College. “I wish I’d found out about this group sooner,” he says. “I have a genuine interest in stocks, but before, I wasn’t quite sure what I was looking at. I was a little quiet in the beginning. I would just sit back and take it all in. But now the picture has turned from cloudy to clear. I’ve definitely learned a lot. I want to go into the equity side of finance, preferably trading.” Nilly Ozcan, another senior finance major, is one of the few women in the group. She has just been made team leader. “But I’m not their boss,” she says. “I like how we challenge each other, finding the flaws in each other’s logic. This group is something I look forward to every week. I’m doing what I love.”
Results impress So far, the students’ diligence has paid off. In its first full year of operation, the VCU portfolio beat the S&P. “The foundation is relatively conservative,” Bunting notes. “We have a growth stock bias, but we’re very sensitive to valuation. We don’t take excessive risks and we’re well diversified, so one stock won’t blow up our entire portfolio.” A number of universities across the country embrace partial student portfolio management; it’s a growing trend. However, Bunting structured the VCU program differently. He separates his group into teams of four or five students and rotates team leaders throughout the year. “That way everyone gains leadership experience,” he says. “I worked on Wall Street for 20 years and I trained a lot of young people. I’d put my students up against anyone from the most prestigious business schools. In fact, if I ever start a new money management business myself,” he says with a grin, “I’m taking these kids. They’re curious, energetic and enthusiastic. They all work extremely hard, and it shows.” Interested in putting your investment skills to the test? To learn more about participating in the Student Managed Investment Portfolio, contact Cory Bunting at wcbunting@vcu.edu. Susan T. Burtch is a freelance copywriter based in Richmond, Va. Winter 2011-12 21
VCU
business alumni society
Students and alumni connect Ram to Ram
Jim Holland Jr. (M.B.A. ’81) (second from left) and Glenn Davis (B.S. ’86/INFO) (right) network with student and faculty members.
The Ram to Ram Program, named after Virginia Commonwealth University’s mascot, matches business students and alumni for informational interviews and mentoring. A single, one-on-one meeting, the informational interview focuses on career exploration, while the mentoring relationship can last a semester or longer. Launched in 2010 through a partnership between the VCU Business Alumni Society and Career Services, the program is already generating praise. Finance major Travis Young describes his recent informational interview as “definitely inspirational.” He met with Tom Dorsey (B.S. ’75/B), president and founding member of the investment advisory firm Dorsey, Wright & Associates.
Apply for the Ram to Ram Program The Ram to Ram Program needs additional alumni volunteers. To offer your services, please fill out the form below and mail to Douglas G. Knapp, director of alumni and student engagement, Virginia Commonwealth University School of Business, 301 West Main Street, P.O. Box 844000, Richmond, Virginia 23284-4000; fax to (804) 828-8884; or email to dgknapp@vcu.edu. Name Title Company Phone Email Graduation year Are you interested in? Mentoring Informational interviews 22
Both
“We talked for about an hour and thirty minutes, and in that time frame, I probably learned my whole finance curriculum!” Young says. “The opportunity to sit and talk to someone in my particular field was great.” Alumni volunteers possess an equal amount of enthusiasm. “For me, it’s altruistic,” Dorsey says. “The day I got this VCU ring on my finger, I went from a nobody to a somebody. I tell these students it’s all about being creative and hardworking and dreaming. If you are inspired and passionate about your field, you will succeed.” The goal this year is to have 50 alumni and 50 students participating, and to grow the program from there.
Not sure what to think? (But know you don’t like paying capital gains tax?)
If you no longer want to worry so much about the market’s direction and would like to share your success, then consider a charitable gift annuity with the Virginia Commonwealth University School of Business Foundation. Your gift of cash or securities (including mutual funds) can guarantee you and/or a loved one a constant stream of income — for life. Your gift annuity allows you to give back (and pay forward), helping your school educate tomorrow’s students. Meanwhile, you’ll reap important tax benefits: • An immediate and significant tax deduction • An annuity on your asset’s full fair market value, free of capital gains tax • An annuity that is partly income tax-free See what payments and deduction you might receive, assuming a gift of $10,000*: Age
Rate
Annuity
Deduction
65
5.5%
$550
$2,666
75
6.4%
$640
$4,175
80
7.2%
$720
$4,842
For more information, including a plan developed specifically for you, please contact Ken Blaisdell at (804) 828-1487 or kcblaisdell@vcu.edu. *This information is for illustrative purposes only. Please seek advice about how this concept may work for you.
CLASS CLASSnotes notes
Updates Please send information about your professional and personal accomplishments to BizandMain@vcu.edu. Or, mail your news to Katherine Oliver, Virginia Commonwealth University, School of Business, P.O. Box 844000, Richmond, VA 23284-4000.
1950s
1980s
Robert W. “Bob” Adams (B.S. ’56/B)
David P. Archibald (B.S. ’89/MGMT; M.B.A. ’91) has served as president/owner
serves as president of Adams Heating & Air Conditioning, a position he’s held since Aug. 1, 1963. He is married to Betty Shealy Adams (B.S. ’55/B), who works for Adams Fuel Oils Corp. They have three children, Bobby Adams (B.S. ’85/ MGMT), Karen and Courtney.
1960s Charles H. Wood (B.S. ’64/MGMT) lives
in Lake Wylie, S.C., where he works as sales and marketing director for Kodiak Mini Storage. He and his wife, Norma, have a son, daughter and four grandchildren, all living nearby.
1970s John E. Cunningham Jr., CPA, (B.S. ’78/ACCT; M.B.A. ’90) writes that he
is “Working for America!” as a budget analyst with the U.S. Department of Agriculture Farm Service Agency. He lives in Laurel, Md. Sandra (Morris) Curry, Ph.D., (B.S. ’70/B)
a retired educator from Waynesboro Public Schools, is author of “Emotional Intelligence in Educational Leadership: Self-perceived EI in Leadership and School Principals.” Mary-Margaret Fosmark (B.S. ’78/MGMT)
retired after dedicating an amazing 41 years of service to VCU. Her most recent position was senior data analyst for Advancement Services. James D. “Jim” Gossip (B.S. ’75/ECON)
is mayor of Jackson, N.C., and serves as chairman, president and CEO of Roanoke Valley Savings Bank in Roanoke Rapids, N.C. He and his wife, Judy, have been married since 1970. Their son, James D. Gossip Jr. (B.S. ’92/MGMT), earned his M.B.A. from East Carolina University. Lynn (Legum) Wunderman (B.S. ’75/MKTG)
writes, “In December 2010, I-Behavior, a behavioral targeting company I founded in 1999 as president and CEO, was acquired by Young & Rubicam, a subsidiary of advertising holding company WPP. I-Behavior was the first co-operative database company to capture SKU-level transactions, to provide attitudinal targeting and to apply the co-op business model to Internet advertising through its aCerno division (sold to Akamai Technologies in 2008).” 24
of Auto Insurers of Virginia since 1991. He writes, “I just wanted to say what a fine job you all are doing with the Business and Main publication. The magazine really helps me feel connected to the school and all the progress that is being made. Top 300 Business Schools? That is fantastic!!” Rhonda Bishop (A.S. ’88; B.I.S. ’02; M.B.A. ’06) became the chief compliance
and ethics officer for the University of Central Florida in Orlando effective May 13. Previously, she served as VCU’s compliance officer. Marcus H. England (B.S. ’83/MGMT)
is a national airport policy and compliance manager with the Federal Aviation Administration Office of Civil Rights in Washington, D.C. His wife, Jacqueline (Jones) England (B.S. ’84/B), is a senior FOIA specialist for the Office of the Comptroller of the Currency in Washington, D.C. Their daughter, Candice, is a 2007 graduate of the VCU School of the Arts. Eric F. Fedowitz (B.S. ’89/MGMT) was pro-
moted to senior director at Freddie Mac in the investments and capital markets division, where he leads the Strategies and Change Management Business Unit in development, strategic planning and process management for the identification, risk evaluation and prioritization of all proposed new strategies, new products, new activities, nonstandard transactions and change-management concepts. Frank Gilg (B.S. ’85/MKTG) traveled
to Doha, Qatar, in March 2011, along with other United Network for Organ Sharing staff, to participate in a feasibility study for setting up a national transplant system for the nation. The trip, sponsored by the Qatar Supreme Council of Health and the Hamad Medical Corp., set the stage for a future consulting engagement for UNOS. Lynn Hackney (B.S. ’88/ECON) cele-
brated the 10th anniversary of her business, Urban Pace LLC, a new home sales and marketing company located in Washington, D.C. She is married to Kimberly Hoover. They have two daughters, Stephanie and Lauren.
Willie F. Henry Jr. (B.S. ’80/MGMT) is manag-
ing director and CEO of Advancing Strategic Innovations LLC, which was recently verified as a service-disabled veteran-owned small business by the Center for Veterans Enterprise in accordance with PL 109-461. Previously, Henry retired from a senior manager position at Nemours Foundation. Mike Malinsky (B.S. ’89/MGMT; M.B.A. ’96)
recently left Genworth and is now doing insurance distribution for Janus Capital. Bruce Mann (B.S. ’84/MGMT) is president/
owner of KB Building Products LLC in Midlothian, Va. He and his wife, Kathy C. Mann (M.Ed. ’95), have a son, Austin, 14, and a daughter, Jackie, a freshman at Virginia Tech. Mark Newfield (B.S. ’87/ACCT) passed
the Certified Financial Planner exam and completed all the requirements to achieve the CFP designation. His clients and team celebrated the fiveyear anniversary of Newfield Financial Solutions in November 2010. Newfield’s firm is a member of the Northwestern Mutual Financial Network. Richard Powell (B.S. ’87/MGMT) is a federal
contracts manager with DRS Technologies and lives in South Riding, Va. He writes that he loves hearing from 1987 alumni. Vicki Tambellini (B.S. ’82/MKTG)
changed the name of her business to The Tambellini Group LLC (TTG) and moved her headquarters to Irvington, Va. TTG owns the majority interest in the software company Enterprise Hive. TTG also owns edu1world, which is currently used by more than 3,000 higher education customers including VCU’s technical team that works on the Banner system. Brian Workman (B.S. ’83/MGMT&ECON)
is an account executive in the commercial sector for American Office of Baltimore in their Richmond, Va., office. American Office is a contract furniture dealer with offices in Virginia, Maryland and Washington, D.C., that has operated for more than 80 years in the mid-Atlantic.
1990s Julie L. Edwards (B.S. ’95/ACCT) was
appointed deputy assistant commissioner for Governmentwide Accounting for the Financial Management Service, a bureau of the U.S. Department of Treasury. She will support the GWA assistant commissioner in leading and overseeing the accounting and reporting operations of the federal government. Prior to joining the Treasury Department, Edwards spent the majority of her career at Deloitte & Touche LLP.
CLASS
Mike Housden (B.S. ’95/MGMT) joined
the Rice/Taylor Wealth Management Group at Morgan Stanley Smith Barney in Richmond, Va., as a financial planning associate/financial adviser. Frank Shortall (B.S. ’96/INFO) is co-owner
of Collegiate Marketing Concepts Inc. in Chesterfield County, Va. His company was recently profiled in the Richmond Times-Dispatch.
2000s Richard H. Albritton III (B.S. ’03/MGMT),
a practicing attorney (J.D. from Florida State University in 2006), has opened the Albritton Law Office in Panama City, Fla. His solo practice specializes in criminal defense, family law and consumer protection/foreclosure defense. He is active in the community, serving as past chairman of the First Saturday Free Legal Clinic, Teen Court Judge and as a member of the board of directors for the local Habitat for Humanity affiliate. Holly Allen (M.B.A. ’09) married Ryan Fick (M.B.A. ’09) Nov. 29, 2010. Ryan
Corrie James (B.S. ’00/INFO; Cert. ’01/ ACCT) is chief consultant/owner of Agility
Consulting Inc. in Mechanicsville, Va. Gary S. Johnson (M.B.A. ’03) and Ken Copeland (M.B.A. ’03), executive director
of the Longwood University Real Estate Foundation, relied on the relationship they built as students in VCU’s Fast Track Executive M.B.A. program to solve a reallife problem. Copeland and Johnson spent two years brainstorming, coordinating, designing and constructing a physical connection between the university’s main and north campuses. The project, which consists of two bridges and a series of pathways, also brings an emotional connection between the university and the town of Farmville, Va. Seth W. Krisnow (B.S. ’05/MKTG) was
married May 14, 2011, at the Governor’s Mansion Mall in Columbia, S.C. His bride, Sara Rentz, is a University of South Carolina alumna. They reside in Lexington, S.C., just outside of Columbia. Kelly Lowe (B.S. ’00/MKTG; M.S. ’04/ MGMT) is manager of Web marketing
is employed by Dominion Resources. The couple lives in Richmond.
at AMF Bowling Centers Inc.
Deborah Lynn (Morse) Baines (B.S. ’02/ INFO) is the eRA developer with the VCU
graduated summa cum laude with a Juris Doctor from the University of Richmond School of Law.
Office of Research. In March 2010, she married Michael Baines, an IT support analyst for the VCU School of Medicine. Pritam Basu (M.B.A. ’02) has been
promoted to the position of quality leaderplatforms/projects for GE. He writes that being chosen as a recipient of the Charles G. Thalhimer Family Scholarship (for which he is always proud) gave him adequate momentum to overcome initial hurdles in his professional voyage in the U.S. Scott Fleming (B.S. ’00/B) was promoted
to senior vice president at BB&T. Fleming, who joined the North Carolina-based bank in 2000, is an institutional bond salesperson in BB&T’s Capital Markets department. Nicole G. Hall, LEED AP, (M.B.A. ’00)
passed the Architectural Registration Examination and is now a registered architect in Virginia. Hall, who works at Clark Nexsen, an award-winning architectural, engineering, interior design, planning and landscape architecture firm in Roanoke, Va., received her Master of Architecture from Virginia Tech and earned her LEED accreditation in 2008. She was one of the Blue Ridge Business Journal’s Top 20 Under 40 for 2010 and served as co-chair for the Roanoke Urban Effect 2008 International Design Competition.
Michael G. Matheson (B.S. ’08/ECON)
Regina Nguyen (B.S. ’03/MKTG) is mar-
keting manager for the Home Team Grill. Jason P. Seiden, J.D., (B.S. ’03/FIRE)
joined the law firm of MichieHamlett in Charlottesville, Va. He will be working in the firm’s family law group. Previously, he worked for the Commonwealth Attorney’s Office in Chesterfield County, Va., and also served as judicial extern for the Hon. M. Hannah Lauck. James Setaro (M.B.A. ’03) recently joined
Barber Martin Agency, bringing experience from RightMinds and The Martin Agency
notes
and client work with Richmond Convention & Visitors Bureau, Saab, S&K Menswear, Carl Zeiss Optical and other clients. He is also an adjunct instructor for VCU’s School of Mass Communications. Robert Sylvester (M.B.A. ’00) is an inter-
national business consultant and owns two companies. Jason Williamson (B.S. ’03/INFO) released
his second book, “Data Migration and Integration with Oracle.” He is an Oracle client adviser and works with clients directly advising C-level executives on business and technology strategy and alignment. Prior to joining Oracle, he was the founder and chief technology officer for the construction industry’s first SaaS/CRM offering and also founded a nonprofit faith-based nongovernment organization dedicated to entrepreneurial and technology education in developing nations. Gary Zhu (B.S. ’06/FIRE) writes, “After
almost two years of waiting for the official announcement from the CFA Institute, after passing Level III in 2009, I have just received my CFA designation. I couldn’t have done it without the VCU School of Business where I started taking the Level I when I was still an undergrad. I was well prepared for the exam through the finance classes that I had taken and also the help that Dr. Upton extended during the process. It has been four years since I graduated, and what I learned during my time at VCU helped me to get to where I am today.” Zhu is employed by Genworth.
2010s Jay Beckstoffer (B.S. ’10/ECON) married
Danielle Ferreri in October 2009. They are expecting their first child in August 2011. Jay works in sales and marketing for State Farm Mutual Insurance. He is returning to school to attend the full-time M.B.A. program at the Tuck School of Business at Dartmouth College.
ABBREVIATION KEY
Business degrees are noted with year and department; other VCU degrees are designated by year. DEGREES Cert. Certificate B.S. Bachelor of Science M.A. Master of Arts M.Acc. Master of Accountancy M.B.A. Master of Business Administration M.S. Master of Science M.Tax. Master of Taxation Ph.D. Doctor of Philosophy
DEPARTMENTS ACCT Accounting B Unknown/General Business ECON Economics FIRE Finance, Insurance and Real Estate INFO Information Systems MGMT Management MKTG Marketing
Winter 2011-12 25
CLASS CLASSnotes notes
Heather Ford (B.S. ’10/ACCT; M.Acc. ’10)
David G. Bliley (B.S. ’63/B), of Hampton,
Dewey T. Oakley Jr. (M.S. ’69/B), of Colonial
married Matthew Carroll Aug. 21, 2010. She works as an associate accountant for Dominion Resources Services.
Va., Nov. 14, 2010.
Heights, Va., Feb. 8, 2011, at age 75.
Beverly A. Bomar (B.S. ’90/MGMT),
Rand V. Pittman (B.S. ’88; M.S. ’88/B; M.S. ’90), of Henrico, Va., Nov. 24, 2010, at age 46.
Jenna Green (B.S. ’10/MGMT) is a busi-
ness analyst for Wolf Creek Fabrications Services Inc., a subsidiary of Chugach Alaska Corp.
William V. Britton Jr. (B.S. ’61/B),
of Richmond, Va., July 31, 2010, at age 72.
Scott Lints (M.S. ’10/INFO) and Kristin Lints (M.S.W. ’06) welcomed their first child,
Winfrey T. Brooks Jr. (B.S. ’67/ACCT),
Fisher Scott, into the world Dec. 15, 2010.
Carl L. Cash (B.S. ’60/B), of Schuyler, Va.,
Jennifer Miles (B.S. ’10/MGMT) was
selected by OnPoint for College (a program that helps inner-city students stay in and complete college) as an OnPoint Star. She was honored in May 2011 at a conference of 600 attendees in her hometown of Syracuse, N.Y. Jennifer is a human resource specialist at Defense Commissary Agency. John Parker (B.S. ’10/INFO) joined VCU
Advancement Services as the online services coordinator. He enjoys hockey and soccer in his free time. Caroline Schroeder (B.S. ’10/MGMT),
a marketing coordinator at FranConnect, and Andrew Mayen (B.S. ’10), a contracts manager at Carahsoft Technology Corp., got engaged Dec. 3, 2010, and are set to get married Oct. 16, 2011. They both live and work in Reston, Va.
Faculty and Staff Jill Kramer retired after serving for 31
years as an undergraduate student adviser at the School of Business.
Students Chioma Stephanie Urama received
a scholarship from the Benjamin A. Gilman International Scholarship Program to study at Curtin University in Perth, Australia.
In memoriam Alumni John W. Attkisson (B.S. ’54/B), of Henrico,
Va., July 18, 2010, at age 84. Capt. Scott Banton (B.S. ’88/ACCT; M.B.A. ’97), of Glen Allen, Va., Feb. 3, 2011,
at age 44. Dulcenia W. Bell (M.S. ’76/B), of Quinton,
Va., March 1, 2010, at age 64. A.E. Berlinghoff Jr. (B.S. ’71/ACCT),
of Hardyville, Va., March 7, 2010, at age 72. C. William Besenfelder (M.B.A. ’76),
of Midlothian, Va., July 9, 2010, at age 64. 26
of Jacksonville Beach, Fla., Feb. 7, 2011, at age 56.
of Midlothian, Va., Aug. 14, 2010, at age 62. Nov. 22, 2010, at age 81. Paul V. Clements (B.S. ’83/INFO), of
Chesterfield, Va., Sept. 17, 2010, at age 57. Robert C. Corsetti (B.S. ’70/B), of Houston,
Sept. 4, 2010, at age 63. John W. Dawson (M.B.A. ’78), of Newport
News, Va., Dec. 15, 2010. E.L. Derring (B.S. ’53/B; M.H.A. ’58),
of Roanoke, Va., Feb. 20, 2011, at age 81. Ralph T. Deupree (M.B.A. ’88),
of Las Vegas, Dec. 16, 2010, at age 52. Thurman Deyerle (M.S. ’85/B),
of Midlothian, Va., July 23, 2010, at age 56. Richard C. Estes (B.S. ’57/B), of Colonial
Heights, Va., July 17, 2010, at age 77. Mary P. Field (Cert. ’86/INFO), of Ashland,
Va., Jan. 8, 2011, at age 59. Charles H. Fisher (B.S. ’65/ACCT), of
William H. Pritchett Jr. (B.S. ’51/B),
of Virginia Beach, Va., Feb. 7, 2011, at age 80. Brian Scott, Dec. 29, 2010. He held more
than 25 years of experience marketing and selling business solutions to the retail, hospitality and professional services industries most recently as general manager of Microsoft’s health care industry in the U.S. He also spent 18 years with IBM and was a veteran of the U.S. Marines. Kenneth D. Scott (B.S. ’74/MGMT),
of Rockville, Va., Jan. 1, 2011, at age 66. Robert L. Seward III (M.S. ’76/MGMT),
of Richmond, Va., Nov. 24, 2010, at age 75. J. David Shobe Jr. (’48/B), of Richmond,
Va., Dec. 12, 2010, at age 83. Ilse S. Stahl (B.S. ’57/B), of Richmond, Va.,
Aug. 10, 2010, at age 90. William B. Taylor (M.B.A. ’85), of Midlothian,
Va., Feb. 17, 2011, at age 56. Elizabeth D. Wall (A.S. ’77/B), of Quinton,
Va., Dec. 12, 2009. Arthur J. Zohab Jr. (B.S. ’63/B),
of Richmond, Va., Sept. 8, 2010.
Mechanicsville, Va., Oct. 4, 2010, at age 72.
Faculty and Staff
Joseph O. Glazebrook (B.S. ’49/B),
Patricia L. Thompson (B.S. ’89/MKTG),
of Richmond, Va., Dec. 17, 2010.
of Richmond, Va., Jan. 1, 2011, at age 66. Up until the spring of 2009, she taught several classes in the management and marketing departments, and also had taught at the University of Richmond and at the community college level. She engaged her students with challenging projects, many of which proved beneficial to businesses and nonprofit organizations in the Richmond area. In the Integrated Marketing Communications class she taught for many years, she ran semesterlength client projects in every section; each client organization received a comprehensive marketing communications plan from at least one student team.
Lindley B. Hill Sr. (B.S. ’48/B), of Richmond,
Va., Dec. 8, 2010, at age 88. Ruth B. Hoffman (Cert. ’86/INFO; M.Acc. ’86),
of Richmond, Va., Sept. 19, 2010, at age 51. Raymond T. Holmes Jr. (M.S. ’71/B),
of Amelia Court House, Va., Sept. 19, 2010, at age 84. Jane B. Holt (B.S. ’45/B), of Petersburg, Va.,
Jan. 13, 2011, at age 86. Betty A. Hudgins (B.S. ’68/B),
of Richmond, Va. William S. Latimer II (B.S./B),
of Petersburg, Va., Oct. 25, 2010, at age 72. Ronald G. Lawhorne (B.S. ’64/B),
of Farmville, Va., Sept. 15, 2010, at age 76. Keith W. Lewis (B.S. ’96/MKTG),
of Midlothian, Va., Nov. 2, 2010, at age 46. Robert H. Meinhard (B.S. ’71/B), of Mechanicsville, Va., Jan. 20, 2011, at age 62.
Students Khaled Alageel, of Saudi Arabia, a senior
majoring in finance, died Feb. 2, 2011. Alageel was well regarded by students and faculty alike. Finance professor Steve Marco remembers him as “an engaging young man who had a spark about him that I haven’t seen in many students.”
What’s new? Tell us about yourself, and we’ll update your official alumni record and share the news with your friends and classmates. Use the space below to send us your information or attach a note with your news and mail it to: Katherine Oliver c/o Virginia Commonwealth University School of Business P.O. Box 844000 Richmond, VA 23284-4000.
Name Company Job title Class year Street address City State ZIP
You can also email news to BizandMain@vcu.edu.
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Please do not publish this information. I am submitting for record purposes only.
Home email address My news:
Are you a CEO, chairman, president or owner? According to our records, more than 800 Virginia Commonwealth University School of Business graduates hold the title of CEO, chairman, president or owner of a company. Are you one of them? Congratulations on your success! Please make sure you’re on our roster of top-ranking alumni. Send your name, title, company and contact info to BizandMain@vcu.edu. Nancy Everett (B.S. ’78), managing director and head of U.S. Fiduciary Management Solutions for BlackRock, stands among the many VCU Business alumni who serve in corporate leadership positions.
Winter 2011-12 27
School of Business
Foundation Trustees CHAIR
Steven A. Markel Vice chairman Markel Corp. SECRETARY
Kenneth C. Blaisdell, Ph.D. Executive director School of Business Foundation James A. Buzzard President MeadWestvaco Corp. L. Dans Callans Jr. (B.S. ’66/ACCT) Phyllis L. Cothran (B.S. ’71/ACCT) President and COO (retired) Anthem Blue Cross & Blue Shield Josée G. Covington President and CEO Covington International T. Kent Cox (B.S. ’78/MGMT) Senior vice president Morgan Stanley Smith Barney Richard Cullen, Esq. Partner/chairman McGuireWoods Nancy C. Everett (B.S. ’78/ACCT) Managing director BlackRock Charles H. Foster Jr. Chairman emeritus (retired) LandAmerica Financial Group Mark M. Gambill Managing director and CEO Cary Street Partners William M. Ginther (B.S. ’69/MGMT; M.S. ’74/B) Corporate executive vice president (retired) SunTrust Bank A. William Hamill President H3 Companies LLC Robert E. Henley Jr. (B.S. ’71/ACCT) Managing partner (retired) Ernst & Young
28
Allen B. King (B.S. ’77/ACCT) Chairman emeritus Universal Corp. Gail L. Letts President and CEO SunTrust Bank, Central Virginia Region John P. McCann Chairman emeritus United Dominion Realty Trust Principal McCann Realty Partners LLC James V. Meath, Esq. Partner and chairman, board of directors Williams Mullen G. Gilmer Minor III Chairman Owens & Minor Inc. Thurston R. Moore, Esq. Chairman, Executive Committee Hunton & Williams LLP John R. Nelson, Ph.D. Executive vice president Chief technology officer Altria Inc. Baxter F. Phillips Jr. (B.S. ’75/B; M.B.A. ’76) President Massey Energy Co. Charles F. Phillips III Richmond office managing partner Ernst & Young James E. Rogers President SCI Investors Inc. S. Buford Scott Chairman Scott & Stringfellow Ranjit Sen President and CEO CXI Robert C. Sledd Chairman (retired) Performance Food Group Co. Managing partner Pinnacle Ventures LLC Senior economic adviser to Virginia Gov. Robert F. McDonnell
Thomas G. Snead Jr. (B.S. ’76/ACCT) President and CEO (retired) Southeast Region, Wellpoint Inc. Anthem Blue Cross & Blue Shield Harry R. Thalhimer President Thalhimer Headwear Eric P. Whittleton (B.S. ’84; Cert. ’86/INFO) President Rigaud LLC F. Dixon Whitworth Jr. (M.S. ’69/B) Regional president (retired) BB&T Ex-Officio Mary Ann Stenier (B.S. ’98) President, VCU Business Alumni Society Michael Rao, Ph.D. President Virginia Commonwealth University Ed Grier Dean VCU School of Business Emeritus Michael Dinkins Executive vice president and CFO USI Insurance Services Brenton S. Halsey Chairman and CEO (retired) James River Corp. Bryan E. Kornblau CEO Eagle Construction of Virginia LLC W. Austin Ligon Co-founder and CEO (retired) CarMax Robert E. Rigsby (M.S. ’75/B; Cert. ’77/ACCT; M.B.A. ’81) President and COO (retired) Dominion Virginia Power
CALendar
To get ahead, go back Thinking about returning to school? Contact the programs below for information session and application details. Executive M.B.A. (804) 828-3939 www.business.vcu.edu/emba Traditional M.B.A. (evening or full time), master’s, certificate and Ph.D. programs (804) 828-4622 or (877) 828-4540 www.business.vcu.edu/graduate Executive M.S. in Information Systems (804) 828-7074 www.business.vcu.edu/ftems
Center for Corporate Education • Certified Financial Planning Program • Insurance Planning
We’re ranked No. 1!
• Income Taxation • Society for Human Resources Management Learning System • Professional in Human Resources/ Senior Professional in Human Resources Review Course • Lean Process Management Program • Lean Six Sigma Green Belt • Lean Six Sigma Black Belt • Project Management
The VCU School of Business was named the nation’s “Most Engaging College Facebook Page” for the small page class by Varsity Outreach. Notably, we were just one of two individual school pages included in the rankings — the rest were all university pages. Thanks to all those who shared comments, photos and likes! It’s your participation that makes our page an engaging community forum. If you haven’t checked us out, go to www.facebook.com/vcubusiness. We’re sure you’ll “Like” what you see!
February 2012
March 2012
April 2012
Feb. 4
March 10
April 3
VCU Open House for prospective undergraduate students and families Includes a business school info session www.vcu.edu/openhouse
Executive M.B.A. Open House and Preview Day Snead Hall, Room B3106 (804) 827-7427
18th International Business Forum University Student Commons (804) 828-1746
March 13
April 13
VCU Risk Management and Insurance Challenge Snead Hall (804) 828-1486
School of Business Awards Ceremony Snead Hall (804) 828-5394
March 14
April 27
VCU Business Alumni Society board meeting Snead Hall www.business.vcu.edu/alumni
3rd Annual VCU Business Alumni Society Golf Open Independence Golf Club, Midlothian, Va. www.business.vcu.edu/alumni
Feb. 9 Spring Business Career Fair Snead Hall Atrium www.business.vcu.edu/career
Feb. 27-28 Mock Interview Program Prior to applying, students should visit VCU Business Career Services Snead Hall, Room B1102 (804) 827-1801
For a complete list of events, visit www.business.vcu.edu/events.html. Winter 2011-12 29
VCU
Virginia Commonwealth University School of Business Snead Hall 301 West Main Street P.O. Box 844000 Richmond, Virginia 23284-4000
Non-profit Organization U.S. Postage Paid RICHMOND, VA Permit No. 869
Who manages your money? A select group of VCU Business students exercises real-world money management and risk assessment skills as they manage a $100,000 portfolio for the School of Business Foundation. It’s a studentmanaged investment fund outperforming the S&P. Read about their strategy. P. 22
www.business.vcu.edu