Archives
May 2007
Director's Message: Awards, moves, and more!
Greetings from sunny Ithaca, where the students are finishing exams, and preparing to leave for internships or the "real world." I'd like to call out a few key areas in this month's newsletter that we are extremely thrilled to share with you [more]
Message from Dean Robert J. Swieringa
New Alumni Web Site Launches
Risky Business: Investing in Distressed Companies
Getting Chummy with the Oracle of Omaha
Feeling Bullish?
Hall of Honor Welcomes Dyson
Swieringa Honored at Gala Dinner
Big Numbers for Tireless Admissions Staff
Reunion: You Belong Here
JS in the news
Events
Message from the Dean: Helping a Student in Crisis
Ofri Sharon, MBA '07, was recently diagnosed with a very serious illness. He and his family are facing many challenges, and many members of the Johnson School community want to help Ofri. After discussions with a number of students to determine the most effective way to be of assistance, we have established a Johnson School Student Emergency Fund to serve as a resource for Ofri and for future students who experience unexpected emergencies and need financial assistance.
I invite you to consider contributing to the new Student Emergency Fund. If you are interested in donating, please access Cornell University's development Web site . On line 4—"other gift designation"—enter "Student Emergency Fund." You may also send a check made out to the Johnson School; please designate "Student Emergency Fund" in your memo field.
Our thoughts and prayers are for Ofri and his family during this difficult time.
As part of our ongoing work to serve and engage with Johnson School alumni, we created a new Alumni Web site. Go online and check out the many new features and enhanced usability. Learn more about the Johnson School brand with our new alumni toolkit. Get familiar with the Advisory Council and other alumni leaders, and learn how you can get more involved. The spring 2007 Cornell Enterprise is online, we've made it easier to submit a class note. What are you waiting for?
Risky Business: Investing in Distressed Companies
More than 85 alumni and friends of the Johnson School met at the Cornell Club in New York City earlier this month for a panel discussion titled "Opportunities and Challenges in Distressed Investing." Jerome Hass, James B. Rubin Professor of Finance at the Johnson School, moderated the panel discussion on investing in troubled companies—an arena that has changed significantly in the past decade.
Ten years ago, there were fewer than 75 trading counterparties in the distressed market, compared with more than 300 today, said Jeffrey Nusbaum, MBA '97, managing director of credit trading at J.P. Morgan. "Ten years ago, there were not many investors" observed Nusbaum. "Then a ton of debt came into the market and lot of sophisticated investors came into the game."
Other panelists, all Johnson School graduates, were Barry Ridings, MBA '76, vice chairman of U.S. Investment Banking at Lazard Freres & Co.; Rob Symington, MBA '92, portfolio manager for Avenue Capital Group; and Harvey Tepner, MBA '86, a partner with Compass Advisors, LLP.
Getting Chummy with the Oracle of Omaha
On April 20, a group of Johnson School MBA students journeyed to Omaha, Nebraska, for a two-hour question-and-answer session with Warren Buffett. (Credit for finagling the audience goes to Jared Goodman, MBA '07). After giving his well-practiced spiel to business-school students, Buffett answered questions with "a delightful concoction of one part fact and two parts story," says Noah Candela, MBA '08.
Buffett on the housing bubble: "People invest in something because they see the stock increasing, instead of basing their decision on what the asset is worth." On oil and energy issues: "A company [in the energy sector] can't profit on price anymore, only [from] finding costs to decrease." And on the Fund of Funds: "World gone bad."
For a first-hand report on the meeting, see Noah Candela's essay.
Feeling Bullish?
Bullishness was the theme for this year's return of a favorite Johnson School tradition—the State of the School. Part information and all inspiration, the State of the School brings our community together to celebrate our successes and look toward the future. The event took place on April 5 in the Statler Auditorium, followed by a festive reception in the Dyson Atrium.
The Hangovers kicked off the State of the School with a Johnson School-specific rendition of "Hooked on a Feeling." Next, the packed house heard from Dean Robert Swieringa, John Carey, executive vice president of strategy, Textron Financial Corp., who recently worked with our fabulous Accelerated MBA students, and finally, from Michael Chen, MBA '85, president and CEO, GE Global Media & Communications.
To hear why these speakers and our entire community is bullish on the Johnson School, view the video of State of the School online.
Hall of Honor Welcomes Dyson
The Johnson School community honored Cornell Trustee and Johnson School Advisor Emeritus Rob Dyson, MBA '74, as the 14th Hall of Honor Inductee at a ceremony held, appropriately, in Sage Hall's Dyson Atrium April 20. The atrium was named in honor of Rob's parents, Margaret and Charles Dyson, in recognition of a $5 million gift from the Dyson Foundation at the time of Sage Hall's reconstruction in the 1990s. Rob Dyson is chairman and CEO of Dyson-Kissner-Moran (DKM), a privately owned, international holding company, and president of the Dyson Foundation, a private, family-directed, grant-making foundation. See more on the induction ceremony at Cornell Enterprise online and view video coverage of the event .
Swieringa Honored at Gala Dinner
More than 200 members of the Johnson School's Advisory Council, faculty, alumni, and staff attended a farewell dinner in honor of outgoing Dean Robert Swieringa in the Duffield Hall atrium on April 20. Jeff Parker '65, MEng '66, MBA '70, chair of the Advisory Council, acted as master of ceremonies for the event, which featured several speakers — including President David Skorton, Provost Biddy Martin, Professor Jerry Hass, and Advisory Council members Jane Hutterly, MBA '76, and Rich Marin '75, MBA '76 — who paid tribute to the dean through their reminiscences and anecdotes, and by naming his many achievements and the landmark changes that took place at the Johnson School under his watch. Read more and enjoy a video tribute to the Dean.
Big Numbers for Tireless Admissions Staff
The final numbers are in, and it's a big MBA recruiting year for the Johnson School's Admissions staff. The school received 2,176 applications for the two-year MBA program, up 30 percent from last year, said Randall Sawyer, director of Admissions and Financial Aid. As of mid-May, 274 admitted students had made deposits to hold their spots in the class of 2009, Sawyer said, which represents a 25 percent increase in yield over the previous year. The school has received 45 deposits from student admitted to the Accelerated MBA program (formerly the Twelve-Month Option), a yield of 71 percent.
"I'm very pleased with both the number of applications received this year and the quality of the applicants," Sawyer said. "Perhaps the most striking thing about the incoming classes is their enthusiasm for the Johnson School—they are looking forward to a great MBA experience at Cornell."
Reunion: You Belong Here
We are thrilled to invite you to return to campus for Reunion Weekend 2007 and join fellow alumni, faculty and staff in celebrating the graduation anniversaries for the classes of 1952, 1957, 1962, 1967, 1972, 1977, 1982, 1987, 1992, 1997, and 2002.
Coming back to Sage Hall is a great way to connect with your classmates and former professors, and to learn about a number of changes that have taken place at the Johnson School since you graduated. There are dozens of fantastic events planned that you won't want to miss!
Alumni can now register online, check out who has signed up so far, or even post notes to fellow classmates using our reunion forum page.
Johnson School in the news
MBA: A Mere Option
BusinessWeek – The Debate Room – May 2007
Associate Dean for MBA Programs and Admissions Cathy Dove wrote the "con" response to BusinessWeek's current Debate Room topic on the value of the MBA, showing how the MBA can pay off over one's lifetime. The column continues to generate interesting online discussions at the BusinessWeek Web site.
The Economic Naturalist
WSKG Radio – Off the Page – May 15, 2007
Robert Frank, Henrietta Johnson Louis Professor of Management and professor of economics, made a live appearance on National Public Radio station WSKG's "Off the Page" to discuss his new book, The Economic Naturalist.
Congress pecks away at CEO pay
ABC News – April 30, 2007
Assistant Professor of Finance Yaniv Grinstein's research on executive compensation came before Congress, where a new "say on pay" bill has been approved by the House.
Does Watching Television Trigger Autism?
National Bureau of Economic Research – April 2007
Research by Michael Waldman, the Charles H. Dyson Professor of Management, suggests a possible link between TV watching and the onset of autism disorders in young children, and advocates for further research.
See more news hits that feature our faculty, alumni, and students.
Events
View the online alumni events calendar to check out the latest offerings in your area. It's a great way to keep in touch!
