Archives
June/July 2007
Director's Message: Henry P. Renard MBA '55, Regional Club of the Year Award
Summer is a time for planning for the upcoming year in the Alumni Affairs office, and also a time for reflecting on the successes of the past year. This fall, we will be celebrating the successes of the Johnson School's Regional Alumni Clubs. [more]
Associate Dean Joseph Thomas Named Interim Dean
Terry Stewart Rocks Reunion
Cayuga Fund Keeps Beating the Mark
Diverse and Social, Class of 2007 Commences
Young Alumna Scores VC Fellowship
Employment Rosy for Class of '07
Why Wait? Start a Business
Featured Alumni
JS in the news
Events
Associate Dean Joseph Thomas Named Interim Dean
On June 13, 2007, Cornell University Provost Carolyn A. "Biddy" Martin announced the appointment of Associate Dean for Academic Affairs and the Nicholas H. Noyes Professor of Manufacturing Joe Thomas as interim dean for the Johnson School.
"Having already served the Johnson School as an exemplary associate dean, Joe Thomas is universally respected for his broad experience, thoughtfulness, and good judgment," Martin said. "We are very grateful that he has agreed to act as interim dean while we complete the search for the next dean of the Johnson School. The school will not stand still under his interim leadership.
In his current role, Thomas has helped grow the Johnson School tenure and tenure-track faculty by 54 percent in the last decade to meet growing demands for MBA and Executive MBA programs. He is a two-time winner of the Russell Distinguished Teaching Award, and has consulted for and been involved in management-education programs for several companies. He has served the Johnson School as director of the doctoral program and director of executive education, and has served the university as the chair of the Academic Leadership Series and chair of the Financial Policies Committee, among other administrative assignments.
Thomas holds a Bachelor of Science in chemical engineering from Carnegie Institute of Technology (now Carnegie-Mellon) and a PhD in operations research from Yale University.
Terry Stewart Rocks Reunion
"I've had the two best jobs in the world—comic books and rock and roll," said Terry Stewart, MBA '72, when he spoke at Cornell's reunion on June 9, 2007. As president and CEO of the Rock and Roll Hall of Fame and Museum in Cleveland, Stewart presides over an $18-million enterprise. When he spoke at Reunion in 1994, he handed out Spiderman bubblegum and trading cards, courtesy of his employer at that time—Marvel Entertainment Group. "My usual speech is about the Rock and Roll Hall of Fame and non-profits," Stewart said. "Today I'm going to marry that with what Cornell has meant to me."
Stewart came to Cornell in 1969 from Rutgers University, where he says he was "the worst engineer you've ever seen." He earned dual degrees in business and law before building a conventional career in banking and mergers and acquisitions. He eventually landed a job at Marvel Comics, and later, an article in the Wall Street Journal led Stewart, an avid music lover, to the Rock and Roll Hall of Fame. Stewart's talk included a brief history of rock and roll, as well as details on the hall of fame and museum, including the induction process. "The biggest challenge I face as a CEO and a fundraiser is going out and convincing people that rock and roll is an art form that continues to change the world, and it's worthy of philanthropy."
When you view Terry Stewart's Reunion address be sure not to miss the question-and-answer session at the end of his talk.
Cayuga Fund Keeps Beating the Mark
The student-run Cayuga MBA Fund, LLC, a market-neutral equity hedge fund, posted solid gains during the first quarter of 2007, returning 2.19 percent, compared with 4.58 percent for the HFR Equity Market Neutral Index and 1.66 percent for the HFR Equity Hedge Index. The Cayuga Fund continues to beat most benchmarks, including the Dow Jones Equity market Neutral Index and the Credit Suisse/Tremont Equity Market Neutral Hedge Fund Indices, up 1.26 percent and 2.75 percent, respectively. The S&P 500 was up 0.64 percent for the quarter.
The Cayuga MBA Fund is an investment vehicle that aims to provide a competitive rate of risk-adjusted return to its investors, while enhancing the educational and professional opportunities of Johnson School MBA students. It is supported by the analytical platform of the Parker Center for Investment Research , cutting-edge research by faculty members, and extensive participation by student portfolio managers. The Parker Center is a classroom providing real-time stock quotes, international data feeds, and financial analysis software and data valued at more than $1.8 million per year in licensing fees.
Diverse and Social, Class of 2007 Commences
On May 26, warmed by a pleasant breeze and sunny skies, the MBA class of 2007 gathered in Bartels Hall to receive its degrees. More than 1,000 family members and friends filled the basketball arena to honor the 421 MBA graduates and 3 receiving PhD degrees. The diverse MBA class of '07 comprised 96 women and 126 international students from 30 companies. Among the graduates were 60 from the first graduating class of the Cornell-Queens Executive MBA program.
In his commencement address, Dean Robert Swieringa described the class as perhaps the school's most social ever. "Students demonstrated great creativity in social bonding through the Johnson Turkeys Bowling Club, the Poker Club, the Wine Club, and the Johnson-on-Tap Club," the dean said. He also noted that in-school connections are hardly the graduates' only ones. "In walking across this stage today, you join a virtual network of over 11,000 Johnson School alumni and over 245,000 Cornellians."
Following the ceremony, graduates, guests, and Johnson School administrators and faculty strolled to the Dyson Atrium for a festive reception and champagne toast.
Young Alumna Scores VC Fellowship
Susan Wu, MBA '06, is one of an elite group of young venture capitalists selected by the Center for Venture Education to participate in the twelfth class of the Kauffman Fellows Program. The members of the new class represent a highly diverse spectrum of backgrounds and nationalities. Wu is one of three Johnson School MBAs who have received the fellowship, the others being Adele Oliva, MBA '93, and Don O'Neil, MBA '02.
Wu came to the Johnson School from the West Coast, where she had an accomplished career as a technology entrepreneur, building several businesses in the online gaming, consumer Web, and software sectors, including one that went public. While at the Johnson School, she remained active in the Silicon Valley entrepreneurial community, volunteering and working for the Apache Software Foundation, a leading open source software organization. She currently is a principal with Charles River Ventures, where she specializes in digital entertainment, consumer Internet, and software infrastructure.
For more information on the 24-month Kauffman Fellows Program, visit www.kauffmanfellows.org .
Employment Rosy for Class of '07
As the MBA class of '07 left Ithaca in May, 90 percent did so with job offers in hand, the same share as for the class of '06. Yet this year's graduates enjoyed slightly higher salaries and significantly more generous signing bonuses. Graduates accepted an average salary of $98,600, up 3.8 percent from the average for the class of 2006. The average signing bonus was $25,800, up 19 percent.
Manufacturing industries hired the single largest share of 2007 graduates, at 32 percent, followed by investment banking, at 23 percent, and consulting and other financial services, at 18 percent each. Nine percent of MBA graduates accepted offers in other industries.
Why Wait? Start a Business
Utilizing the vast resources for entrepreneurs at the Johnson School, many graduates choose to forgo the typical recruiting process and spend their time and energy developing and launching their own businesses while at business school.
Colin Dreizin, MBA '07, saw a need in luxury-goods authentication. How do you know the $5,000 Rolex you are buying on eBay at a 50 percent discount is real? What began as a class project for the Entrepreneurship and Private Equity class has grown into a new business aimed at ensuring the luxury goods you buy on eBay are authentic. Colinsworth Authentication has launched www.colinsworth.com , a site that utilizes a network of East- and West-Coast authentication experts to guarantee the legitimacy of the luxury items offered for auction.
Emilie Liebhoff, MBA '07, came to the Johnson School to gain the skills she needed to run and launch a business. Her new company, Power Sports: Helping Girls Become Independent Women, held its first mother-daughter summer camp at the Mt. Pleasant Hoffman Challenge Course in Ithaca, New York on June 9 and June 10, 2007. The new venture invites mothers and daughters to engage together in team-building exercises, soccer skills, nutrition workshops, and discussion and bonding sessions.
For more about Power Sports: Helping Girls Become Independent Women, visit www.powerincsports.com/ .
Featured Alumni
Andre L. Lee, MPA '72, has brought his experience at the Johnson School (then Cornell's School of Business and Public Administration) to a health-care management and education career, Lee is part owner of Heritage Hospice Care, Inc., of Detroit, and Extended Hospice Care of Southfield, Mich. He also sits as a board member of Priority Hospice in Nashville, along with comedian and civil-rights activist, Dick Gregory, and former CEO of the Southern Christian Leadership Conference, Martin Luther King III. Lee's past enterprises include ownership of Leeway DME, a durable medical equipment company; CEO of Phyx, Inc.; ownership of Friendship Hospices of Nashville, New Orleans and Natchez, Miss.; CEO of Meharry-Hubbard Hospital; and CEO for Sidney Sumby Hospital and Highland Park General Hospital.
Lee was elected president of the National Association of Health Services Executives and is a fellow in the American College of Health Care Executives. He is also president of Southfield, Michigan-based Leeway, LLC , a health care education and training company formed in 1999, and chairman of Leeway Foundation, Inc. , a non-profit provider of preventive consumer healthcare education programs, including DVD's and on-site and online courses.
Lee has served on the faculty of Meharry Medical College, Eastern Michigan University, Shaw College, and Tennessee State University. His current teaching assignments include Baker College of Auburn Hills, Northwood University, and Central Michigan University.
Lee has published more than 75 articles in numerous professional journals and newspapers, and co-authored the book Loose Ends – Putting Your Personal Affairs in Order. In addition, he was the executive producer of a recent documentary "The Healers – the Legacy of African American Pioneers in Medicine."
Johnson School in the news
Media Logic Optimizes Student Recruitment Marketing for Cornell's Johnson School Executive MBA Programs
E-mediawire – May 30, 2007
Media Logic worked with the Johnson School's Executive MBA programs to develop a program that utilized Web analytics to monitor and adjust the media mix. Preliminary results show a 25 percent lift in applications and an anticipated 25 percent increase in enrollment -- as well as a decrease in the cost per lead by a factor of 5 times over last year's student recruitment campaign.
Biodegradable Composites Company Wins Cornell Contest
GreenBiz.com – May 16, 2007
The winner of the seventh annual BR Ventures Business Idea Competition is e2e Materials, a company that produces strong, biodegradable composites.
A Visa Squeeze for Foreign MBAs
A Visa Squeeze for Foreign MBAs – May 14, 2007
Laurie Sedgwick comments on the global impact of the U.S. H1-B visa restrictions and the impact on admissions, recruiting, and diversity in the classroom.
The Ivy League comes to Bellevue
Bellevue Reporter – April 28, 2007
Cornell-Queen's Executive MBA director Danny Szpiro and Bellevue-based CQEMBA '08 students Rich Devine and Eva Orlowska are highlighted in this article on the innovative executive MBA program.
Tech transfer is looking for new methods to attract VC dollars
Mass High Tech – May 5, 2007
The Big Red Triad is mentioned as a creative way universities are working to transfer technology discovered in university labs to the public, for-profit arena.
Profiting from Health Care Cuts
CFO.com – May 15, 2007
Professor Julia D'Souza comments on Financial Accounting Standards Board Statement No. 106.
Congress to quiz private equity chief
Financial Times – May 15, 2007
Professor Robert Frank testified before Congress on income inequality. The article also appeared on MSNBC and MSN Money Central.
China loosens control on currency — a bit
Marketplace – May 18, 2007
Professor Warren Bailey discusses the consequences if China's currency was to float freely.
On the Trail of Economic Oddities
BusinessWeek - May 21, 2007
Robert Frank is interviewed about his latest book and his hope that readers can become "economic naturalists" by the time they've finished the book
Simply Audiobooks Pumps Up the Volume
BusinessWeek – April 23, 2007
Simply Audiobooks, started by Sean Neville, MBA '02, and Sanjay Singhal, MBA '92, is described as being the "most successful independent player in the online audiobook rental market."
Cornell Hotel School's "Conversations with Entrepreneurs" series features Greg Dollarhyde of Pacific Island Restaurants, Inc.
Hospitality Net – April 26, 2007
Greg Dollarhyde '80, MBA '81, executive chairman of the Board of Directors of Pacific Island Restaurants, Inc., was a featured speaker for the Hotel School's "Conversations with Entrepreneurs" series on May 1, 2007.
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Events
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