Archives
October 2006
Message from the Dean:
Recent rankings
Several top publications have recently released their business school rankings. While these are often an imperfect reflection on the quality of MBA programs, we have committed to build a consistent reputation as a top-10 school of management, a perception among our stakeholders and customers that will be influenced by media rankings. [more]
Grinstein named SEC scholar
Yaniv Grinstein, assistant professor of finance, has joined the Securities and Exchange Commission as a Visiting Academic Scholar until June 2007. He will continue his research efforts in corporate governance and corporate finance, as well as other areas for the SEC. Grinstein has published in several journals, including the Journal of Finance and the Journal of Financial Economics. His research has been widely cited in major newspapers such as The Economist, Financial Times, and the New York Times, as well as in Congressional hearings on the new governance rules.
Meet Sandy Weill and Judah Kraushaar
If you are on campus Friday, October 27, stop by the Cornell campus store from 10:45 to 11:45 a.m. for a book signing by Sandy Weill, AB '55, chairman emeritus of Citigroup. His autobiography, The Real Deal: My Life in Business and Philanthropy, is hot off the press this month. Joining Weill is co-author and long-time Wall Street analyst (and Johnson School alum) Judah Kraushaar, AB '79, MBA '80. Both will also be speaking in Bailey Hall from 1:00 to 2:00 p.m. Weill will share highlights of his extraordinary business pursuits and successes over five decades, culminating in his creation and leadership of one of the world's leading financial powerhouses, Citigroup. He will also talk about his philosophy toward philanthropy and the special role Cornell has played in shaping his life.
Update on dean's search
On October 11, Provost Biddy Martin released another in a series of periodic updates on the search to replace Dean Robert Swieringa. Her update announces the addition of alumnus John Alexander, MBA '76, to the search committee. Keep up to date on the search by visiting the Provost's Web site.
Send retirement wishes for Professor Dyckman
Thomas R. Dyckman, the Ann Whitney Olin Professor of Accounting, will officially retire at the end of 2006. Professor Dyckman has been here since 1964. In 1987, he received the American Accounting Association's Outstanding Educator Award. He served on the Financial Accounting Foundation and the Financial Accounting Standards Advisory Committee. During 1981-82, he was president of the American Accounting Association and was its director of research from 1976 to 1978. He received the AICPA Accounting Research Literature Award in 1966 and 1978. He was acting dean during 1994-95; 1996-97.
The Johnson School will honor Tom at a special event in Ithaca on November 4. Alumni wishing to send greetings (letters, cards, video messages, etc.) should send them by October 21 to Rhonda Velazquez, the Johnson School, Cornell University, 106 Sage Hall, Ithaca, NY 14853-6201. Questions can be directed to Rhonda at rhv2@cornell.edu or 607 254-8828.
Durland Lecture video on the web
Robert Essner doesn't shy away from the complexities of his industry, nor from the role it has played in its own troubles. The chairman and chief executive officer of Wyeth, one of the world's largest pharmaceutical companies, delivered the twentieth Lewis H. Durland Memorial Lecture in Sage Hall on September 19. A crowd of about 130 filled an amphitheater classroom in Sage Hall for Essner's presentation, titled "Permanent Whitewater: Leading Through Turbulent Times."
Essner described his industry as "placid" when he entered it in 1976. Proposed health care reforms during the first Clinton administration rocked the industry and "demonized" it in the eyes of many Americans. Yet that was just the first wave of turbulence to come, Essner said. Highly visible issues of drug safety, direct-to-consumer advertising, aggressive competition from generic drug manufacturers, and most importantly an erosion of trust over the past two decades all have contributed to both the successes and challenges of large pharmaceutical companies.
Essner entertained questions following his lecture, and also talked with students at a roundtable discussion sponsored by the student-run Healthcare and Biotech Club. See video of the Durland Lecture and question-and-answer session that followed.
The Durland Lecture Series is the most prestigious speaking event at the Johnson School. Initiated in 1983, its purpose is to bring distinguished executives from the fields of business, finance and investment management to the Johnson School for a presentation to the students. It was established in memory of Lew Durland, treasurer emeritus of Cornell who served as the university's chief financial officer for more than 25 years.
Business Journalists in NYC
More than a dozen of New York City's top business journalists gathered at the Cornell Club on October 5 to learn from Johnson School faculty at the school's first educational seminar for business journalists. The event, coordinated by the schools marketing and communications department, attracted journalists from the New York Times, Wall Street Journal, Associated Press, Business Week, and other publications.
The seminar opened with a research presentation by Sanjeev Bhojraj, associate professor of accounting, and director of the Parker Center for Investment Research. Bhojraj shared brand new research on earnings management, expectations management and surprises-in other words, new knowledge about companies that beat analysts' expectations, how they do it, and the result down the line.
Robert Jarrow, the Ronald P. and Susan E. Lynch Professor of Investment Management and Professor of Finance, followed, with his analysis of Basel II. That international accord proposes changes in international standards for measuring the adequacy of a bank's capital. At the urging of the journalists, Jarrow closed his presentation with a discussion of bubbles: how they form, how they disappear, and how, it at all, one can profit from them.
Robert Frank, Henrietta Johnson Louis Professor of Management and Professor of Accounting spoke during lunch about the research behind his soon-to-be-released book, Falling Behind. His talk explored whether rising economic inequality harms the middle class.
Save the date for Entrepreneurship@Cornell
Save the date for the Entrepreneurship@Cornell celebration, April 19-20, 2007. Join the Cornell entrepreneurship community in this second annual event bringing together alumni, students, faculty, and staff. Two days of events to include: a keynote address by Kevin McGovern '70, Cornell Entrepreneur of the Year 2007; a gala dinner hosted by President David J. Skorton; a lunch featuring Nancy Schlichting, MBA/Sloan '79, president/CEO of Henry Ford Health System; the BR Ventures Business Idea Competition; a symposia on the topics of entrepreneurship in hospitality, real estate, health, venture capital, and sustainability; the Entrepreneurship@Cornell Resource Expo; a Cornell Entrepreneur Network (CEN) event; and the CEAA Engineering Conference on the "Impact of Globalization on Business and Technology."
For more information contact the Entrepreneurship@Cornell Program Office at 607 255-1576 or e-mail: dlm8@cornell.edu.
Share your experience at an admissions event
The Office of Admissions and Financial Aid needs your help at summer and fall recruiting events. We need alumni who are willing to share their MBA and current career experiences with event participants. For a listing of the events and to volunteer to assist, please see www.johnson.cornell.edu/alumni/events/summerfall2006signup.xls.
Check back often—more events may be periodically added throughout the season.
Featured alumni
Megan Weber, MBA '06, applied and was selected for an MBA Enterprise Corps (MBAEC) assignment in Bulgaria. [more]
Dr. Pankaj Gupta, EMBA '04, had seemingly divergent career paths: one in business management with Citibank, N.A, and the other in medicine. [more]
The Main Course: Schools cook up business classes for chefs and restaurant owners
European Wall Street Journal and WSJ.com - Sept. 20
Dori Berlin, MBA '97, executive chef and food and beverage manager for Wood Ranch restaurants in southern California, is one of the chefs highlighted in this article on chefs with MBAs. Ms. Berlin earned a dual degree with an MBA and a Master of Management in Hospitality from the School of Hotel Administration.
Technology Innovation Awards
Wall Street Journal - Sept. 11, 2006
Zargis Medical, run by CEO John Kallassy, MBA '03, was a runner-up in the medical devices category of the Wall Street Journal's Technology Innovation Awards, recognized for its work in developing a computer-aided stethoscope.
Recruiters Sound Off
Wall Street Journal - Sept. 20, 2006
The Johnson School ranked #16 in the national ranking, moving up from our rank of #18 in 2004 and 2005. The Johnson School was also ranked by recruiters in several specific areas: 7th in management consulting, general management and operations management, 10th in "practical lessons" (practical experience in the curriculum) and 4th as an "undervalued school."
Wealth gap widens
CNN Money - Sept. 6, 2006
In an article that discusses the wealth gap between income brackets, Professor Robert Frank comments that the gap provides incentives to work and offers insight into how technology and taxes affect the gap.
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!
