Tep Fallmagazine

TEPPER School of Business
FALL 20
Calculated Risk:
Upstart Employees Drive Corporate Innovation
tepper
MAGAZINE
A Worlds-Eye View
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INSIDE Industry, Energy, Conservation Merge In Pig Power Business Plan
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October 10
FALL 07
For more information or to register for any alumni event, go to www.tepper.cmu.edu/alumni/events.
tepper
MAGAZINE
Business Board of Advisors Francois de Carbonnel (MSIA 72) Private Investor David A. Coulter (IM 71, MSIA 71) Managing Director and Senior Advisor Warburg Pincus Lewis Hay III (MSIA 82) President, Chairman and CEO FPL Group, Inc. T. Jerome Holleran (CIT 57, MSIA 69) Chairman Precision Medical Products, Inc. Larry E. Jennings, Jr. (BS-MCS 84; MIA 87) Senior Managing Director TouchStone Partners Gunjan Kedia (MSIA 94) President, Mellon Analytical Solutions Mellon Financial Corporation Jon R. Kinol (MSIA 92) Managing Director Head of Rates Trading North America Deutsche Bank AG New York James Levy (IM 65, MSIA 66) Chairman Park Lane Ventures John E. McGrath (MSIA 61) Senior Vice President Booz Allen Hamilton Inc. David T. Morgenthaler Founding Partner Morgenthaler Ventures Marc Onetto (MSIA 75) Senior Vice President Worldwide Operations Amazon.com, Inc. Cindy Padnos (MSIA 80) Managing Director Advanced Venture Partners Frank A. Risch (MSIA 66) Vice President and Treasurer (retired) ExxonMobil Corporation James E. Rohr Chairman and CEO The PNC Financial Services Group Manoj P. Singh (MSIA 76) Global Managing Partner DTT Operations Joel Stern Chairman and CEO Stern Stewart & Co. James R. Swartz (MSIA 66) Founding Partner Accel Partners David A. Tepper (MSIA 82) President and Founder Appaloosa Management LP Kevin D. Willsey (MSIA 89) Managing Director and Chairman Global Equity Capital Markets JPMorgan Securities, Inc. Pamela Zilly (MSIA 77) Senior Managing Director The Blackstone Group Administration Kenneth B. Dunn, Ph.D. Dean Ilker Baybars, Ph.D. Deputy Dean R. Ravi, Ph.D. Associate Dean, Intellectual Strategy Steven J. Sharratt Associate Dean, Advancement Milton L. Cofield, Ph.D. Executive Director, Undergraduate Business Administration Program Dennis Epple, Ph.D. Head, Undergraduate Economics Program Richard C. Green, Ph.D. Chair, Ph.D. Program John H. Mather, Ph.D. Executive Director, Masters Programs
Tepper Magazine is published for alumni, students, faculty, staff and friends of the business school. 2007 Carnegie Mellon University. All rights reserved.
Tepper Alumni Reception with Chester Spatt in San Francisco: Hosted by Citi, Inc. and alum Rimmo Jolly (MSIA 95), and sponsored by the San Francisco Alumni Chapter. Dr. Chester S. Spatt, Mellon Bank Professor of Finance; Director, Center for Financial Markets, and former Chief Economist and Director, Office of Economic Analysis, U.S. Securities and Exchange Commission (July 2004-July 2007), will speak to Tepper alumni in financial services and investment banking. The event will take place at Citi, Inc. in San Francisco from 5 7 p.m. Tepper Alumni Happy Hour in Pittsburgh: Sponsored by the Pittsburgh Alumni Chapter. Chris Telmer, Associate Professor of Financial Economics, will be attending. The event will take place at the Church Brew Works from 6 8:30 p.m.
October 18
Carnegie Mellon Network New York: Sponsored by the New York City Alumni Chapter, Carnegie Mellons annual Network New York brings those seeking employment in the Greater Metropolitan New York region together with alumni and employers during an after-work reception. It represents an efficient and cost-effective opportunity to meet prospective full-time employees and interns. The event will take place at the 3 West Clubs Grand Ballroom from 6 8:30 p.m.
October 22
Tepper Alumni Wall Street Networking Night and Alumni Panel: Co-sponsored by the Graduate Finance Association, Tepper School of Business and Credit Suisse. This event is designed as an informal networking opportunity for Carnegie Mellon alumni professionals currently working in investment banking, research sales & trading, asset management, private banking, corporate finance and hedge funds. We will also be including a panel presentation by a number of Tepper alumni who are managing directors with leading firms in the investment banking and financial services field. The event will take place at Credit Suisse, Eleven Madison Avenue, from 6:30 9:30 p.m.
Please send letters to the editor and address changes to: Deb Magness Office of Advancement Tepper School of Business Carnegie Mellon University 5000 Forbes Avenue Pittsburgh, PA 15213 dmagness@andrew.cmu.edu Co-Editors Niki Kapsambelis, Deb Magness Art Director, Designer Cheryl Bender Project Manager Barbara Feldman Production Kelly Musmanno Contributors Geof Becker, Sam Blackburn, Susan Brimo-Cox, Fawn Fitter, Janice French, Janice Jeletic, Niki Kapsambelis, Deb Magness Photography David Aschkenas, Tom Gigliotti, Harry Giglio, John Madere, Karen Meyers Illustration Gary Alphonso, George Schill
October 26 28
Reunion 2007: Find more details at www.tepper.cmu.edu/alumni/reunion.
November 8
Carnegie Mellon Alumni Panel on Marketing in New York: Sponsored by the New York Metro Alumni Chapter and co-sponsored by Interbrand. Moderating the panel will be Gary Singer (BS/H&SS 76), Chief Strategy Officer at Interbrand Corp. The event will take place at Interbrand, 130 Fifth Avenue from 6 9 p.m.
November 13
Alumni Reception with Jay Apt in Philadelphia: Co-sponsored by the Carnegie Mellon Philadelphia Alumni Chapter. Dr. Jay Apt, executive director of the Carnegie Mellon Electricity Industry Center, associate research professor, and Distinguished Service Professor in Engineering and Public Policy will speak on global climate change. The event will take place from 6:30 9:30 p.m. at a location to be announced.
www.tepper.cmu.edu
contents I
Departments
Dunn Reappointed Dean Of Tepper School Ventures Globalization And The Pace Of Change:
Setting The Right Mindset by Yoshiaki Fujimori (MSIA 81) GE Consumer Finance President and CEO, Asia

FALL 07
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Follow The Leader:

Push your envelope to grow a successful career
Ajit Shetty (MSIA 76)
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Johnson & Johnson Worldwide Operations Corporate Officer Vice President Janssen Pharmaceutica Chairman
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IMHO:
In My Humble Opinion Convention Is A Career Killer by Arthur Boni, Ph.D. Director, Donald H. Jones Center for Entrepreneurship Associate Teaching Professor John R. Thorne Chair of Entrepreneurship
Features
Calculated Risk:
Upstart Employees Drive Corporate Innovation
8 16 22
Business Model
Business Wire Network
26 29
Industry, Energy, Conservation Merge In Pig Power Business Plan

Brainstorm
A Worlds-Eye View:
Globetrotting Students Take Their Business Education Overseas
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Dunn Reappointed Dean Of Tepper School

Financial growth and strong research focus cited as impressive gains
Kenneth B. Dunn has embarked on his second five-year term as dean of the Tepper School of Business, after being reappointed by Carnegie Mellon Universitys Board of Trustees.
I am honored to be reappointed dean of the Tepper School among the best business schools in the country and the world, said Dunn. We are committed to an exceptional educational and research environment, and to continuing to recognize and utilize the extraordinary achievements of our faculty and alumni in advancing the schools mission. Provost and senior vice president Mark Kamlet gave a strong endorsement of Dunns first term. Under Dean Dunn, the Tepper
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University committees highlights of Dean Dunns first five years

Endowment grew from $83 million (FY 2003) to $131.8 million (April 2007). Creation of several key research centers: Center for Analytical Research and Technology to encourage interdisciplinary research; Center for Business Solutions aimed at launching joint research projects with industry; and the Teaching Innovation Center to encourage faculty to develop and support creative new courses which bring the dynamics of analyzing information and making decisions into the classroom. Increase in student quality measures for the undergrad and graduate programs, namely an increase of 45 points over the last five years of the average GMAT score to 696. In the last three years, the Dean and the Tepper Schools development office raised $4.4 million for graduate student aid and fellowships, and more than $13 million in gifts and pledges for faculty chairs. Cash from giving grew from $4.9 million in (FY 2003) to $12.2 million in (FY 2006). Creation of new junior faculty development chairs, including the PNC Professorship in Computational Finance; the Frank A. and Helen E. Risch Faculty Development Professorship in Business; and the Carnegie Bosch Faculty Development Chair(s) to encourage pathbreaking research contributions among young faculty members.
School has seen a marked increase in the quality of its students, in the importance placed on the impact of faculty research and in external relations and fundraising, Kamlet said. Among Dunns achievements highlighted by university officials, the $55 million naming gift in 2004 from alumnus David Tepper, president and founder of Appaloosa Management LP, and his wife, Marlene, remains a seminal event for the school and university, which bespeaks the confidence of the donors not only in the school and the university, but also in Dean Dunn and his vision. Dunn was initially appointed the eighth dean of the Tepper School in July 2002, following a 16-year career managing fixed income portfolios. His career included serving as managing director of Morgan Stanley Investment Management and co-director of the U.S. Core Fixed Income and Mortgage teams. Before that, Dunn taught at Carnegie Mellon, where he joined the faculty in 1979 as assistant professor of industrial administration and became a tenured professor of finance and economics in 1987.
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NEWS FROM THE TEPPER SCHOOL OF BUSINESS
Academy Recognizes OB Faculty Research Impact

Don A. Moore, Carnegie Bosch Faculty Development Chair, associate professor of organizational behavior and theory, was selected for the 2007 Cummings Scholar Award from the Organizational Behavior Division of the Academy of Management (AOM). The award, honoring the late Professor Larry Cummings, recognizes significant scholarly achievement of an early- to mid-career scholar, no more than seven years after receiving his or her doctorate. Moores paper Bayesian Overconfidence, accepted for presentation at the AOM Conference in Philadelphia in August, will be published in the Best Paper Proceedings of the 2007 Academy of Management Meeting.
Change Research Receives Award

Denise M. Rousseau, H.J. Heinz II Professor of Organizational Behavior and Public Policy, was the recipient of the 2006 Douglas McGregor Memorial Award, with three co-authors, for their article On the Receiving End: Sensemaking, Emotion, and Assessments of an Organizational Change Initiated by Others. The article appeared in volume 42, issue 2, June 2006, of the Journal of Applied Behavioral Science. Co-authors were Jean M. Bartunek, Boston College; Jenny W. Rudolph, Boston University; and Judith A. DePalma, of Slippery Rock University.
Sridhar Tayur, professor of operations management and founder of SmartOps.
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Professor Honored For Commercializing New Technology

Professor Sridhar Tayur was awarded the 2007 Carnegie Science Center Award for Excellence in Information Technology. The award is presented by WQED Multimedia in recognition of the development and commercialization of an information technology-based solution resulting in significant business impact. Tayur, the Ford Distinguished Research Chair and Professor of Operations Management and Manufacturing, also is the founder of SmartOps Corporation, which provides enterprise-class inventory optimization software and supply chain consulting services. In addition to teaching, Tayur consults with several firms, including Microsoft, McKinsey & Co., GE and Intel. He has received the Industrial Management Teaching Award and the George Leland Bach Teaching Award.
Denise M. Rousseau H.J. Heinz II Professor of Organizational Behavior and Public Policy
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funny business
Charles Evans Named President Of Chicago Fed

Charles L. Evans (MSIA 85, Ph.D. 89) was named the new president of the Federal Reserve Bank of Chicago. Evans became the 4 banks ninth president and CEO, effective September 1, 2007. The Federal Reserves announcement touted Evans respected research on inflation, financial market prices and measuring the effects of monetary policy on U.S. economic activity, noting that his research has been published in the Journal of Political Economy, American Economic Review, Journal of Monetary Economics, Quarterly Journal of Economics and the Handbook of Macroeconomics.
MBA Student Wins Global Leadership Award

Colin Raney (MBA 2007) received a prestigious international award for leadership from the Graduate Business Forum, a global network of business school student leaders, for creating the Tepper Prepper mentorship program. Raney received the annual Student Leadership Award at the Forums annual Graduate Business Conference, a meeting of students from the worlds top business schools and leading executives of international companies. The event this year was held at the National University of Singapore. Singapore President S.R. Nathan personally presented Raney with the award. The annual award, now in its 16th year, recognizes leadership and innovation within the graduate business community. Raney was selected for his role in developing Tepper Prepper, a mentoring initiative that pairs second-year MBA students with incoming students to help improve their interviewing and networking skills. Raney, immediate past president of the Tepper Schools Graduate Business Association (GBA), also founded GBA Impact, a program that encourages GBA members to develop programs that solicit involvement from fellow students and foster growth in individual leadership skills.
Williamson Named American Economic Association Distinguished Fellow

Oliver E. Williamson (MSIA 62, Ph.D. 63), Edgar F. Kaiser Professor Emeritus of Business, Economics and Law at UC Berkeleys Haas School of Business, was awarded Distinguished Fellow by the American Economic Association (AEA). Williamsons work has examined how varying organizational structures for markets and institutions affect economic activity. His style blends social science with abstract economic theory and has been said to have influenced topics ranging from investment in Eastern Europe to HRM in the technology industry.
Recent Faculty Awards

Robert Dammon, professor of financial economics, received the Tepper Schools 2006 07 MBA Teaching Award, the George Leland Bach Award.
Marvin Goodfriend, professor of economics, and chairman, the Gailliot Center for Public Policy, received the Tepper Schools 2006 07 B.S. Economics Program Teaching Award.
Tepper School Honors Former AMC Exec

Gerald C. Meyers affiliation with what is now known as the Tepper School of Business began when he was a teen and entered
Burton Hollifield, associate professor of financial economics, received the Tepper Schools 2006 07 B.S. Business Administration Teaching Award.
the university on the strength of his athletic prowess. In 1946, I was 16 years old, and the returning vets of World War II were filling most university openings, recalls Meyers. But Carnegie Tech accepted me on a football scholarship. The relationship continued through his masters degree and his tenure as the Ford Distinguished Professor, and was capped by the Doctor of Business Practice, which he was awarded in May at Carnegie Mellons 110th commencement ceremonies. Meyers, who was not expecting the award, said he was deeply honored. As a Tepper professor, Meyers fielded students questions 5
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Claudia A. Kirkpatrick, associate teaching professor of business management communication, received a Special Award for Sustained Teaching Excellence in the Classroom for at least five years in the Undergraduate Business Administration Program.
Don A. Moore and Paul J. Healy, assistant professor of economics, were awarded the Weil Prize for 2007. Roman Weil (MSIA 65, Ph.D. 66), professor of accounting at the University of Chicago Graduate School of Business, made a gift to the Tepper School to establish an annual prize for an untenured faculty member who authors unpublished papers on problem solving, in contrast to theorem proving.
as if they came from a board of directors. Students enjoyed his directness, his breadth of management experience, his innovative solutions to conflicts and crises, and his commanding presence. In business, Meyers also boasts formidable credentials, having served as chairman and CEO of American Motors Corp. Under his stewardship, the company purchased Jeep and developed it into a mass-market competitor, including the creation of the original Jeep Cherokee SUV He merged AMC with Renault before . Renault sold AMC to Chrysler. The domestic auto industry is currently undergoing a major transformation and, in going through this process, it will change forever in ways formerly unimaginable, Meyers said. Whether in academia or industry, Meyers strives to maintain momentum in his life. Ive been propelled by the intellectual challenge, he says. On to the next thing, and it will be that way until they carry me out. He offered advice for Teppers MBA students and alumni: Value your school and its reputation. The school is recognized in the highest circles.
Denise M. Rousseau received the 2007 Distinguished Scholar Award from Managerial and Organizational Cognition Division, Academy of Management; the 2007 Distinguished Scholar Award from Western Academy of Management; and the Distinguished Scholar Award from the Managerial and Organizational Cognition Division of the Academy of Management at their 2007 Annual Meeting in August.
Anthony P. Stanton, associate teaching professor and director of graphic media management, was elected to a two-year term as president of the Technical Association of the Graphic Arts.
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Tepper School Begins Entrepreneurship Certificate Program In Qatar

The Tepper School and Carnegie Mellon University have established an Executive Entrepreneurship Certificate Program at the universitys Qatar campus. Designed in partnership with the Qatar Science & Technology Park (QSTP), the new entrepreneurship program is a nine-month, part-time program for managers and executives, where they learn how to build technology-based businesses within their existing companies or by starting new enterprises. The inaugural class began in September. The Tepper School and its Donald H. Jones Center for Entrepreneurship will deliver the program. Applicants must be located in Doha in order to attend the classes, which are scheduled outside business hours. More information and application details can be found at www.qstp.org.qa. 6
Tepper Undergrads Win Business Plan Competition

Senior business administration major Angelica Salame took first place in the 8th Annual Tepper Undergraduate Business Plan Competition for AbbyMe, a Web site that allows users to create and send phone messages over the Internet. Salames Meyer Unkovic & Scott Award for Outstanding Business Plan included $5,000 in cash and an additional $5,000 in legal services to help establish her company. The competition is sponsored by the Donald H. Jones Center for Entrepreneurship; Tepper School of Business; Carnegie Mellon University; SMC Business Councils; and Meyer, Unkovic & Scott. The purpose of the competition is to give start-up student companies a chance to win $10,000 in prize money for marketing and product. Salame also recently placed second in the University of San Francisco Business Plan Competition and qualified for the Moot Corp Competition at the University of Texas at Austin.
Team From Tepper School Wins Regional SIFE Competition

The Carnegie Mellon University Students In Free Enterprise (SIFE) team won a regional competition in the Philadelphia SIFE USA Regional Competition last spring, one of 17 SIFE competitions held across the U.S. During the past year, the Carnegie Mellon SIFE team organized 10 projects in the Pittsburgh community, including Guessthics!, which teaches the importance of ethics by engaging college students in a trivia game; an immigrant outreach project to aid relocation assimilation; and, in partnership with the YWCA of Downtown Pittsburgh, a project called YW Enterprising Women, which helps women start their own businesses. SIFE is an international nonprofit organization active on more than 1,400 university campuses in 48 countries. SIFE teams create economic opportunities in their communities by organizing outreach projects that focus on market economics, entrepreneurship, personal financial success skills and business ethics.
Join us for Alumni Reunion Weekend. October 26 27, 2007. Special celebrations for classes of 2002, 1997,
1992, 1987, 1982, 1977, 1972, 1967, 1962, 1957 and 1952. For more information, go to www.tepper.cmu.edu/alumni/reunion
2007
reunion
Four Decades And Counting:
Behavioral Theory of the Firm continues to stimulate discussion, research
Within the realm of organizational science, Richard Cyert and James Marchs book, A Behavioral Theory of the Firm, was clearly ahead of its time when this Carnegie Institute of Technology pair first published it in 1963. Some 44 years later, it continues to wield broad influence across a variety of fields so much so that a special 2007 issue of Organization Science is dedicated to Cyert and Marchs book and how it continues to impact current research. Key concepts and theories raised in the book, including bounded rationality, problemistic search, the dominant coalition, standard operating procedures and slack search, as well as the innovative computational model presented, owe much to the unique environment found at Carnegie Tech and its Graduate School of Industrial Administration. The interdisciplinary vision and scientific focus, the aligning and alliances of professors and students, and connections to significant companies such as RAND all factored into their research, papers and, finally, the book. Even March credits the now Tepper School as an extraordinary incubator of ideas. Scholarship is a collective enterprise, he says, and the support of scholarly institutions and other scholars is crucial for any such endeavor. The endurance of the book and the persistent value of its theories on organizational studies in management, economics, political science and sociology is evident in the papers selected for the recent, special publication. As Organization Science editor-in-chief Linda Argote, the Carnegie Bosch Professor of Organizational Behavior and Theory at the Tepper School, explains, Not only did the book advance theory, it also inspired new approaches for studying organizations. Furthermore, she adds, the book has influenced other fields, such as economics, sociology, political science and public policy, and continues to generate new ideas and hypotheses today.
2007
SAVE THE DATE
JOIN US
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FOR ALUMNI REUNION WEEKEND

October 26 27, 2007 families welcome
w w w. tepper.cmu.edu/alumni/reunion
risk:
by Niki Kapsambelis
Calculated
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UPSTART EMPLOYEES DRIVE CORPORATE INNOVATION
Its part of the American psyche, a uniquely creative impulse that must be fed: Peel away the layers of most any B-school grad, and youll often find that there beats the heart of an entrepreneur. Sure, they may have the framework, the polish and the skill set that a top-tier education confers but deep within, they still long to tinker with THE BIG IDEA.
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Some pursue the traditional route of the entrepreneur, courting investors and creating a company from scratch. But most other graduates choose a different path, and instead seek to apply their ideas to more established industries. Known as intrapreneurs, they are the people who look for new products, processes, categories, usage behaviors and ideas that will put their theories to the test in the corporate world. And thats good news for the companies willing to back them. Two years after earning his MBA from the Tepper School, Kevin Bethune (MBA 05) is now working on a new change initiative aimed at developing a sustainable business model that will elevate Nikes ability to deliver premium product for the consumer. His job title is Process Innovation Manager, but his function embodies the role of intrapreneur. If it succeeds, his project will allow more effective commercialization of concepts dreamed up by the companys footwear designers. The project involves changing the team mindset, refining the process and using technology to further enable the effectiveness of that process.
Such an idea would be of tremendous strategic impact to Nike, explains Bethune. Nikes culture is all about taking things to a better place, not just doing the job. Theyre always asking employees to exercise leadership and take things to a new dimension so it benefits and improves the organization. Innovation is the soul of new business for any company, whether its a start-up or a household name. Without employees who are willing to take risks, and people who are willing to champion their causes, even the most stable business can eventually wither or succumb to competition. Thats why companies such as 3M, which famously implemented policies encouraging innovation, and Google, which collects employee ideas on a Billboard-style Top 100 chart, are pushing hard to get their people to think strategically. The world is changing very quickly, and if companies dont likewise change, somebody else is going to come into the marketplace, says Professor Arthur Boni, director of the Donald H. Jones Center for
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The Intrapreneurs Ten Commandments

1. Build your team; intrapreneuring is not a solo activity. 2. Share credit widely. 3. Ask for advice before you ask for resources. 4. Underpromise and overdeliver publicity triggers the
corporate immune system.
5. Do any job needed to make your dream work,

regardless of your job description.
6. Remember that it is easier to ask for forgiveness

than for permission.
7. Keep the best interests of the company and its customers

in mind, especially when you have to bend the rules or circumvent the bureaucracy.
8. Come to work each day willing to be fired. 9. Be true to your goals, but be realistic about how
to achieve them.
10. Honor and educate your sponsors.

Source: Gifford Pinchot, author, consultant and president of Bainbridge Graduate Institute. Used with permission.
The definition I like is: A dreamer who does. Gifford Pinchot, author, Intrapreneuring
Entrepreneurship at the Tepper School. Companies recognize that they have to have a portfolio of products that range from the mature to those that are just beginning. Increasingly, companies are looking for those products by nurturing an entrepreneurial spirit among their employees, says Boni, who also is the John R. Thorne Chair of Entrepreneurship and Associate Teaching Professor of Entrepreneurship. Certainly over the last 10 to 15 years, Ive heard more corporations talking about ways they can be innovative and productive, including the concept of spinning off ideas, he says. People are recognizing that this is a way to change the world, and its also a good way to make wealth not such a bad combination. The Tepper School has designed its curriculum to nurture those impulses in a way that adheres to sound business principles. In our courses, we cover the entire life cycle of a company, Boni says. We look at how you innovate a start-up company, an emerging company, a mature company or a company on the far end of the spectrum that needs to redo its whole business model. FILLING IN THE BLANKS From the first year she worked for Merck & Co., Melanie Kittrell (MSIA 90) has specialized in intrapreneurial assignments. Shortly after joining the pharmaceutical giant in 1990, Kittrell was charged with creating a marketing model that eliminated the need for a sales force in a region that covered a third of the United States. For me, the excitement was that there was very little planning prior to this assignment, recalls Kittrell. Merck was very gracious in giving me a green field, allowing me to do whatever I wanted. Kittrell set up a round-the-clock call center that offered physicians the opportunity to speak with registered pharmacists about products. The company also developed audio, visual and printed media to communicate with customers according to their preferences. The experiment lasted for about nine months before sales representatives were brought back in, but the communications center existed for another four to five years before Merck assumed its functions
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Nobody is going to hold your hand throughout the process...my manager gave me an open slate to be creative and dig within the depths of my skill sets, network and contacts.
Kevin Bethune, MBA 05 Nike, Process Innovation Manager
You are ruffling feathers, youre creating change, and that creates a burden. Youre constantly negotiating with your own organization...you pick your battles, start small if you can and build up.
Melanie Kittrell, MSIA 90 Merck & Co., Inc. Executive Director, Strategic Innovation
internally. Kittrells innovation gave the company confidence in using new methods to reach out to its customers. After that, Kittrell became one of the companys go-to people for intrapreneurial projects which she calls blank-piece-of-paper projects. They hand you a blank piece of paper, and you say to yourself, Maybe the ideas are written in invisible ink, she says. But the message, while unspoken, is clear: For some people, and Kittrell is one of them, the impulse exists that will fill that blank page. At Nike, Bethune entered the company through the most traditional of routes finance but was quickly steered toward a more unusual career path. Nobody is going to hold your hand throughout the process, says Bethune. My manager gave me an open slate to be creative and dig within the depths of my skill sets, network and contacts. She doesnt constrain me in any way she says go for it. WHITHER THE INTRAPRENEUR? Nobody quite knows what makes an intrapreneur. Certainly, some ingredients are crucial: Creativity. Curiosity. A desire to design something, whether a product or a process or a system, that is new and different. A personality that is unafraid to go against the grain. Kittrell says intrapreneurs are the people who, though they may have backgrounds similar to those of their colleagues, simply stand out as different to their managers for reasons that arent always apparent. I call them people with red shoes, she jokes. We walk into the company, and our shoes glow red, and they say, Oh, put her on this weird project. For author and consultant Gifford Pinchot, who is credited by The Economist with coining the term intrapreneur and who wrote the book on the topic (the best-selling Intrapreneuring) in 1985, the key to such a persons personality amounts to one word: confidence. The essential ingredient to intrapreneuring is the belief that if your company is stupid enough to fire you, youll find work somewhere else, says Pinchot, who is now president of the Bainbridge Graduate Institute, which focuses on bringing sustainability into the MBA curriculum. Act as if the company is going to support you. If it does, thats wonderful, and if not, it hastens your departure to go somewhere else. Adds Boni, there must also be an element of adventure in an intrapreneur.
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Its really somebody whos able to integrate right- and left-brain functions in a creative way, or in a business mode, he says. Its about risk management within the constraints that you have. Often, those constraints come from within. Just as the entrepreneur must create buy-in from investors, the intrapreneur must develop support for a new idea from all levels at the corporation, says Boni. The successful intrapreneur typically has a champion at the companys highest level, embracing innovation and helping to build a broadbased coalition to put the idea into action. You are ruffling feathers, youre creating change, and that creates a burden. Youre constantly negotiating with your own organization, says Kittrell. You pick your battles, start small if you can and build up. CARE AND FEEDING Glowing red shoes aside, Kittrell agrees with Bonis belief that entrepreneurship is a skill set that can, to some extent, be taught. She believes that, while most people have a tendency toward innovation within them, putting it into practice requires a certain natural proclivity to envision something different and develop a tactical realization. Prior to earning her MBA, Kittrell was a neuroscientist. And even then, entrepreneurship was part of her makeup. I probably didnt know the word entrepreneurship when I was a scientist, she says. But I had to create a totally different way to collect data for my science. I had to envision how I wanted data collected, and I had to put together a team that had the expertise to help me achieve that vision to create the lab that I needed. So I already had to build my own new world, before I earned my MBA. Likewise, Bethune recognized his own interest in entrepreneurship early. While still at Tepper, he completed a project that looked at ways Honeywell could compete in the semiconductor industry and reduce equipment downtime. He keeps that business plan on his desk today, because it serves as a good model for the thought processes that formed the groundwork of his education. According to David McClelland, the late psychology professor from Harvard who studied human motivation and entrepreneurship, about 10 percent of the population has the entrepreneurial character structure. I have often suspected that intrapreneurship is buried inside many people, but its been beaten out of them by school, by their parents certainly by the corporation. And it can wake up, says Pinchot.
It was at the Tepper School that Kittrell and Bethune learned to appreciate the science and discipline that went into entrepreneurship. According to Boni, those skills include evaluating an idea to determine whether it represents a viable opportunity, developing an approach to the market, learning to understand the market and its peculiar behaviors, and creating a business model that works. Students use real-world experiences through internships in which they work with mentors from the faculty, their network and their company to hone the skills that foster innovation. Additionally, a capstone project course incorporates leadership development through several projects, such as one with a Silicon Valley firm and another with a multinational corporation to help commercialize a technology platform. Theres always risk, Boni points out. The level of risk a larger company can afford the amount of loss is bigger than for a start-up company. NATURAL RESOURCES Kittrell found much greater wiggle-room for risk at Merck than when she briefly ventured into a biotech company in the mid-1990s. Six weeks after she arrived with the intent of helping that company set up commercial operations for its first launched product, her project was abruptly terminated. She moved on to help with another project, but the uphill battle was steeper in a smaller company, and she found herself back at Merck by 2000. For me, I didnt appreciate the incredible infrastructure and resources that big pharma had. I sort of took that for granted until I went into biotech, Kittrell acknowledges. One of the things that made me successful at Merck was that there was so much expertise around me that I could draw from. That falls in line with Pinchots belief that some ideas are simply a better fit for an established business. A plan to build a more fuel-efficient locomotive makes more sense at General Electric, for example, than it does for a start-up. Its easier to do a lot of things inside a big company, despite all these slings and arrows of an outrageous bureaucracy, he says.
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Globalization And The Pace Of Change: Setting The Right Mindset

Yoshiaki Fujimori, president and chief executive officer of GE Consumer Finance, Asia, earned a masters degree from the Tepper School in 1981 and is a Carnegie Mellon trustee. He delivered this excerpted address to the Class of 2007 undergraduate business students.
Its a real pleasure for me to be here today, about 20 years since I last wandered the grounds of Carnegie Mellon...the reason why I know it wasnt just yesterday is because Pittsburgh during my days here was a steel town that had seen its best days. But in just two decades, Pittsburgh has been completely transformed from a city of the past into a city thats embraced and redefined its own future. Pittsburgh today is modern, visually exciting and technologically driven. As astounding as Pittsburghs transformation has been, its just a microcosm of the transformation the world has experienced. The extent and impact of the transformation that has taken place through globalization and technology in the last 20 years is amazing. So I want to talk about this change, to help you frame the mindset that you will need to approach the next 20 years, where we will see even more fundamental change. They will be without a doubt the most critical years of your life, both personally and professionally. So listen carefully: Twenty years ago, Chinas GDP per capita was $275. Today, Chinas GDP per capita is an astonishing $2,000. In Shanghai, its $7,300! Today, we talk about BRIC economies: Brazil, Russia, India and China. Twenty years ago, they accounted for 18 percent of global GDP. One study says BRICs will account for as much as 44 percent of global GDP by 2050. Imagine that! Twenty years ago, eco-friendly policies were considered anti-business. Today, corporations are embracing these policies not because its politically correct, but because it makes business sense. Theres a growing belief that a healthy economy and a healthy environment go hand in hand. GE launched the ecomagination initiative, with the belief that Green is Green. In other words, the challenges of global warming and the economics of scarcity will drive markets of the future. But emerging markets and environmental solutions are just part of the bigger story of global change: There are at least five key major global trends that will shape and define the world in which you live and work. Here are some others worth noting. Global liquidity trends: Global growth and strong capital markets have created new investment opportunities. More than $600 billion is flowing to oil-exporting countries each year. Private equity funds have almost $2 trillion of buying power. GE plans to harness liquidity trends to reshape the company by buying and selling parts of its portfolio to expand growth, reduce risk and position ourselves for a strong future. The Internet and demographic trends are also two critical forces with far-reaching implications for society and business. Firms that invest wisely in digitization and take advantage of demographic-related dynamics in healthcare, infrastructure, education and financial services will be best positioned to take advantage of these massive opportunities. So, how do these trends affect the professional opportunities that are open to you? How will you define your legacy, your contribution to the world, while you face the changes that will take place in the next 20 years? There are three key mindsets Id like to share with you. Mindset #1: Always be humble and hungry. Looking back, I was always hungry to learn and to win. But I wasnt always humble. Before Carnegie Mellon, I was a top student and a star athlete. I graduated at the top of Japans most prestigious university, Tokyo University, and I landed a job with one of Japans top global firms. Before my 30th birthday, I was working on complex, multibillion dollar deals and was on the fast track to the top. Was I hungry? Absolutely! But when I arrived at Carnegie Mellon, I suffered my first crisis of confidence. There were people in my class I didnt have a chance of competing with! I knew I had to work hard to succeed in this highly competitive environment. It was Carnegie Mellon that taught me humility. Understanding that theres always going to be someone whos smarter, faster or better is what we at GE call boundaryless-ness. If you accept that theres always a better way to solve a problem, you seek that knowledge, learn from it, improve on it and, ultimately, you make the lesson your own.
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Mindset #2: Dont set your own limits. The only limits you have are in your head. This is actually a very powerful mindset, and my former mentor and friend, Jack Welch, was the one who defined it for me, and its been a powerful guiding force in my life. In June 1990, I got a call from the CEO of GE Medical Systems. He asked me to lead the nuclear medicine business. There would be 150 people reporting to me, with engineering and manufacturing in the U.K., headquarters in the U.S., and sales and distribution worldwide. It would be my first time running a business outside of my home country. A global business. A highly technical business. My first impression was, Can I really do this? But you know, this is precisely GEs concept of STRETCH! At GE, great careers, and mine is no exception, are fundamentally defined by stretch assignments. Stretch is very important because people tend to set their own limits at the point where they think they can plausibly achieve a goal. But actually, people have you have a much higher potential for achievement than you realize. And that potential is also higher than what you would set yourself. When you manage people, or yourself, always stretch yourself. The last mindset I want to share with you is: Be a change agent. As a business leader, I appreciate this change agent mindset very much. People tend to like the status quo, and this can stunt your growth, not just career growth but also your personal growth. Every great company, and every great leader, will initiate constant changes to improve technology, processes, systems, the way they do business and even the way they think. Being a change agent requires a unique set of leadership skills a sense of urgency, a vision for the future, a strong team to support the vision, the ability to mobilize people and resources and a mechanism to sustain that change. Jack Welch ultimately chose Jeff Immelt as his successor, after a tremendously successful 20-year career leading GE. He had three strong candidates for the job, all proven GE leaders. So what led him to choose Jeff? To me, theres one big reason: Jeff, in Jacks view, was the best change agent in the company. He was the most eager to change, not afraid of the risks of change. And guess what happened? Two days after Jeff was appointed president and CEO of GE, 9/11 happened and, after that, the fall of Enron. The world changed forever. But in the last five years, Jeff has transformed GE into a more 21st century, globally focused company. I have worked closely with Jeff for the last five years as a member of his senior management team, and I know Jeff to be a real change agent. So in conclusion: Rather than planning your career, think about the learning path you want for yourself. Whats in store for the next 20 years? We can only know directionally, based on the trends and data that exist before us. But one things for sure: The pace of change in the next 20 years will be even faster and more fundamentally revolutionizing than the last 20 years. Having the right mindset will allow you to maximize the opportunities these changes will throw in your path. Great organizations are prepared to reward and recognize innovators, risk takers and people who are constantly changing to achieve a higher standard of excellence. Congratulations, Class of 2007. Celebrate today, begin your life tomorrow and remember: Always be humble and hungry; dont set your own limits the only limits you have are in your head; and, above all, be a change agent. YOSHIAKI FUJIMORI, MSIA 81
Senior Vice President of GE President and CEO, GE Money Asia Chairman, General Electric Japan, Ltd.
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ALIX BOWMAN, MBA 07

Environmental Livestock Solutions Founder and CEO
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pig power
INDUSTRY, ENERGY, CONSERVATION MERGE IN BUSINESS PLAN
business model
T
by Fawn Fitter
The business model that produces profit by solving a significant problem is the ultimate dream of the socially conscious entrepreneur. For Alix Bowman, earning an MBA in 2007 was a crucial step on the road to making that dream happen.
Following the sometimes elusive yet still intriguing concept of trash to treasure, her business plan to transform pig waste on southern farms from an environmental time bomb to a clean, green source of power has gained an impressive amount of attention from both utilities and academics. And, despite winning third place in the 2007 Tulane Business Plan Competition, Bowman is still evaluating the future viability of a concept that has the agricultural and utility industries vying for her attention. As part of her due diligence, Bowman moved to North Carolina a week after graduating from the Tepper School with partner Kamal Bennoune to pursue the connections and funding aimed at turning their fledgling company, Environmental Livestock Solutions, from vision to reality. As she ventures into uncharted territory, its her MBA education that serves as her touchstone, reminding Every time I get overwhelmed, I have a conversation with someone at Tepper who points out the potential and motivates me to keep working on it, she says. Without them, the idea might have diedinstead of being something I might end up working on for the next few years of my life.
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her that some of the best business minds believe her idea has legs.
business model
BIRTH OF AN IDEA
Starting a business wasnt on Bowmans agenda when she arrived at Carnegie Mellon two years ago. An environmental educator who had worked at nature centers, zoos and schools from Louisiana to Oregon, she wanted to explore methods of making the business world more green, but she assumed she would either work within an existing company or pursue consulting. Her experiences during the summer following her first year at the Tepper School helped change her mind. Bowman interned at retailer Coldwater Creek, researching an initiative to convert the companys headquarters, stores and distribution center to 100 percent wind power. She became fascinated by the potential of renewable energy sources, both as a source of profit and as a way to use her MBA for social and environmental good. Cow power was already successful in the dairy industry, with programs such as Central Vermont Public Service putting cows other prolific end-product to use in a manure-to-energy model. Bowman wondered why non-dairy farmers werent turning their animals wastes
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It was an intriguing idea to begin with, and she had a good grasp of the market and a conclusion that there was an opportunity. She had the vision, the drive and the education to make that vision a reality.
Tom Emerson David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship
separate them from the liquid. The load thus lightened, the cost of transportation is reduced, because farmers can transport more waste per truck. Then whats needed is a centrally located plant to process pig manure into power. Bowmans new company aims to build that plant and help farmers prepare their waste to send it there. It wont completely eliminate the problem, but it will significantly reduce the amount of waste sitting around and allow farmers to use their lagoons a lot longer, says Bowman. True to form, she already has ideas in mind for the byproducts: You could even use the leftover waste water to grow green algae to create biodiesel, or maybe process it into liquid fertilizer. TEPPER PAVES THE PATH Initially, Bowman sought an MBA to expand her career opportunities. Knowing she could take the degree into any field, she kept her goal of making the world greener in mind and switched to the Tepper Schools entrepreneurial track after she became fascinated with renewable energy. In fact, she says, her classmates offered advice, referred her to potential contacts and even helped her rehearse her business pitch. The students here are so willing to give their own time to encourage each other, she says. Ive met lots of people Id like to work with again. Bowman credits two classes in particular Entrepreneurial Thought and Action, and Entrepreneurial Business Planning, both taught by Tom Emerson, the David T. and Lindsay J. Morgenthaler Professor of
into energy as well. She and Bennoune researched the energy potential of other kinds of animal waste and concluded that pigs were excellent candidates thanks to the methane content of their manure. To their surprise, no one was pursuing pig power even though the pig farming industry was confronting serious problems associated with an over-abundance of waste. Most pig farms clean up by sluicing waste into big storage lagoons. Eventually, the lagoons fill up with the slushy sewage, too high in both minerals and toxins to release into the water system or re-use in the fields. The problem is especially acute in North Carolina, the nations second-largest swine producer, where, since 1997, pig farmers have been prohibited from expanding their farms, starting new ones or even installing new waste lagoons naturally limiting profit margins and stifling any opportunity for growth. With nowhere left to put its inevitable byproducts, one of the states largest industries is now declining. Bowman and Bennoune speculated that no one had yet tried to recycle pig waste into energy because hauling heavy tanks of liquid effluent to a processing plant costs more than a farmer can recover in the form of electricity. They realized, though, that farmers could remove water from the waste before it leaves the farm through existing technology from cow-power models, in which solids are stored in roll-off containers to
Entrepreneurship with helping her develop her business plan and investor presentation. Emerson says he was immediately struck by the background research Bowman had already done. It was an intriguing idea to begin with, and she had a good grasp of the market and a conclusion that there was an opportunity, he recalls. She had the vision, the drive and the education to make that vision a reality. At the same time, Bowman enrolled in a class about the economics and engineering of electrical power systems, offered jointly with Carnegie Mellons electrical engineering program, to expand her knowledge about the power industry. Studying pricing, regulations and the general structure of the industry proved the existence of genuine opportunities for renewable energy and gave her the impetus to keep working on her business plan. Just as important, she said, the class gave her the chance to ask questions of guest speakers who wouldnt ordinarily make time to talk to a graduate student. PUTTING THEORY INTO PRACTICE As a result, when Bowman and Bennoune took their business plan to the Tulane competition in April, they impressed the judges with their grasp of issues in the energy industry. One of the judges gave us a hard time with one of the issues we brought up, but another, whos a venture capitalist in the industry, said, No, no, they have it right, she said. With their prize money in hand, the couple decided to move to North Carolina to build connections with local utilities such as North Carolina Green Power and investigate property for a pig-waste processing facility. Bowmans business plan projects that if the company begins operations and books initial revenues in August 2008, it will be profitable by the end of that year and quickly achieve profit margins of 22 percent. Classmates have been asking to be called when shes ready to hire. Emerson says, I think the stars are all aligning in her direction. And John Mather, executive director of Teppers Masters Program, says he has no doubt Bowmans business will be a success. Shes at the point where she has to execute, Mather says. I understand why shes hesitant theyll need a big up-front investment. But one of the utilities in North Carolina is actively seeking proposals for alternative energy programs. In two years, I think well be down there for a ribbon-cutting.
Alix Bowman, MBA 07, and partner Kamal Bennoune cradle some key players in their pig-waste-to-power business model.
PIG POWER by the numbers

Number of pigs in North Carolina: more than 10 million Amount of effluent pigs generate: more than 491 million gallons per year What farmers currently spend each year to manage that waste: $60 million Annual power potential of the effluent: 850,000 megawatt hours (MWh) Selling price of renewable energy: approximately $75 per MWh Annual revenue potential: more than $63 million For its first plant, Environmental Livestock Solutions is targeting farms with more than 5,000 hogs within eight miles of their proposed site in Duplin County, N.C. Forty-seven farms meet those criteria, with a total of 460,000 hogs. The company must secure the participation of just 15 eligible farms, or one-third of the available market, to operate at full capacity. 19
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Basics of the pig-waste-to-power cycle

1. Water rinses waste out of barns and into a separation facility. 2. The liquid portion flows off to the existing waste lagoon,
while solids are loaded into modular sludge containers.
3. Environmental Livestock Solutions trucks transport full sludge

containers to the central processing facility.
4. The sludge is loaded into tanks where anaerobic bacteria

digest it and give off methane.
5. The methane is piped into a generator connected to the

power grid.
6. The generator burns the methane to generate power. 7. The digested remains are spread outside to age, then are
packaged as fertilizer.
follow the leader I
PUSH YOUR ENVELOPE TO GROW A SUCCESSFUL CAREER
AJIT SHETTY
MSIA 76 Janssen Pharmaceutica division of Johnson & Johnson Managing Director, CEO Chairman, Board of Directors
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CAREER PATH SINCE B-SCHOOL: I interned in Belgium with Janssen Pharmaceutica, a Johnson & Johnson company exclusively focused on mental health medications, before I attended graduate school at Carnegie Mellon. After I graduated, I was asked to return to the company, and I have been with Janssen Pharmaceutica and Johnson & Johnson ever since. Beginning as a financial analyst, I grew my career into numerous high-level management positions covering a variety of finance, operations and group management responsibilities. From a management development perspective, I asked to be relocated several times and have worked at the companys Piscataway office and in Belgium. Today, I head operations of all Johnson & Johnson and am chairman of Janssen Pharmaceutica.
called upon to talk publicly, and you dont have a second chance to make a first impression. Have a point of view, but know when to listen and when to speak up. Be intellectually honest and always be able to back up what you say with facts and logic. ON LEADERSHIP: Johnson & Johnson was the first company to have a credo a value system that now extends across our employees, customers and communities. It is important to establish a set of good values to guide you as a business leader. Good leadership characteristics include strategic thinking, intellectual curiosity, teaming and a sense of urgency. As our company founder, Dr. Paul Janssen, used to say, The patients are waiting. All of these characteristics drive results. AROUND THE WORLD:
ADVICE FOR NEW GRADS: The Management Game at the business school was very useful and has stayed with me through the years. It fostered the practice of working together rather than independent competition which is very valuable in todays business environment. Also, Id encourage students to practice public speaking; it helps build self-confidence. You are often
We often get the impression that things are very different in other parts of the world, but if you look closely, you see a common thread. Be intellectually curious and keep a prepared mind always be aware. In this way, youll be open to a continuum of information from a lot of sources. Aim to be a good observer in order to visualize opportunities.
imhoI

IN MY HUMBLE OPINION
ARTHUR BONI, Ph.D.
Convention Is A Career Killer

Let me get this straight: You want a successful career, full of interesting challenges, marked by a steady climb to the top. You want increasing responsibilities and increasing compensation. Who doesnt? But how can you
possibly achieve these outcomes in todays uncertain economy, where new technology and global turmoil upset even the most carefully developed strategies, the most thoroughly prepared people? I believe there is one clear way to navigate future ambiguities effectively. Its simple, really. Become a career entrepreneur. Students often ask, Why should I study entrepreneurship? Im probably not going to start a company when I graduate. I answer that, while this may be true, it reflects a limiting view of entrepreneurship. If you consider for a moment how successful entrepreneurs think, you might be driven to ask instead, Why not study entrepreneurship? Simply put, I believe you need to learn how entrepreneurs think and act because we live and work in a very competitive, global economy. Consider this comment by Samuel J. Palmisano, CEO of IBM: The way you thrive in this environment is by innovating innovating in technologies, innovating in strategies, innovating in business models. Not only is Sam right that innovation involves much more than products, but I would add that innovation also includes a spirit of reinventing and evolving business models. Its a way of thinking, of finding and cultivating new markets to deliver products and services people dont yet know they need or want. Its about rewiring corporate organizations for creativity and growth. At its core, innovation is the life-breath of achievement. Look at it this way: Invention transforms technology, but innovation transforms life. What we are talking about here is the domain of the entrepreneur. You will understand, then, if I evangelize for a minute and suggest that if you want to be successful in your career, you will most certainly devote time and effort to learning how entrepreneurs think and act. Thinking like an entrepreneur will help whether you start or go to work in an early-stage company, acquire a small company, join a mature company and become a leader of innovation, or innovate in a social context. The
Director, Donald H. Jones Center for Entrepreneurship Associate Teaching Professor John R. Thorne Chair of Entrepreneurship
entrepreneurial process embodies and integrates all aspects of building and running any enterprise. Fundamentally, the process consists of three interrelated components: the opportunity, the resources necessary and the team to execute all balanced and guided by a leader. Life cycle is but one dimension. Its how you approach the problem that matters most. This approach is what sets the Tepper School, and Tepper graduates, apart from the crowd. The strategic processes in a larger corporation are similar to those in an emerging company. What differs is the set of filters used in the process of allocating resources. These might include cost structure for profitability, size thresholds for target markets, growth expectations, the cost of capital, the timeline for profitability and other factors. Most successful businesses evolve their strategies, as do most successful people. To me, the real way of generating wealth is by creating it. I recall a fascinating talk by Geoffrey Moore, author of Crossing the Chasm, among several books hes written about innovation. One of his ideas was that entrepreneurs must lack the prudence gene. True enough, you dont want to mistake the power of unplanned discovery. But I also believe entrepreneurs increase their probability of success by bounding their risks. They identify and deliver the most critical tasks necessary to prove their innovations before proceeding aggressively to market. The dot-com era was an aberration; informed entrepreneurial behavior is the foundation of the future. Do you want to make an impact on whatever organization you join? Do you want to become a leader? A clear path to that success is to learn to think and act like an entrepreneur. Size doesnt matter; it is how you think, act and adapt to the competitive landscape. Study the art and science of entrepreneurship, and when the corporate recruiter asks, Why should I hire you? answer confidently, I will innovate wherever I go, so why not for your organization?
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brainstorm
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by Janice Jeletic
-eye view:
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Globetrotting students take their business education overseas

No matter what the industry, globalization permeates every segment of todays business climate. Even the student who uses a business school degree for social entrepreneurship is likely to spend significant time working in or with another country, alongside colleagues who hail from nations outside the United States.
brainstorm
Studying abroad enables students to see the realistic side of doing business. Its like learning a language the language of business. Its difficult to develop the skill without being in the environment.
Zhaoyang Gu, Associate Professor of Accounting
The challenge for business schools, then, is to prepare students for an international marketplace, while also providing educational experiences that are meaningful to the individual students career goals. Acting on the philosophy that study abroad is not a one-size-fits-all proposition, but one best undertaken with a customized approach, the Tepper Schools graduate and undergraduate programs offer an array of choices as varied as the students themselves. We have a strong focus on studying abroad because its valuable for personal development and the overall undergraduate experience, says Milton Cofield, executive director of BSBA Undergraduate
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MBA MELTING POT At the graduate level, the international experience begins with the 30 percent of the student body enrolled in Teppers MBA program who come from other countries bringing a global perspective into the classroom. Graduate courses also reflect the increasing emphasis of the global economy. For example, a recently introduced Global Enterprise Management Track merges operations, organizational behavior, information systems, strategy and international management, and includes an expectation for study abroad. However, the school does not adhere solely to a singular, prescribed exchange program, according to John Mather, executive director, Masters Program and Teaching Professor of Marketing. Rather, students are given the freedom to create opportunities on their own. Our students discover and develop programs that meet their interests and needs, says Mather. That philosophy of structured discovery inspired Geoffrey Bent, an MBA FlexTime candidate in the Class of 2008, to coordinate a study trip to China for 35 classmates in January. Bent, who once lived in Shanghai, has been instrumental in coordinating three trips to China since 2006 and served as the groups interpreter. The daily itinerary for the three-credit program included morning lectures at Chinese universities, followed by afternoon sessions with business and government leaders. Students also had the chance to network with Tepper School alumni, which Bent hopes will pay dividends after graduation. Already, some students who made the trip are pursuing internships in China or considering full-time employment there. My goal is to strengthen the alumni network in China so that anyone visiting the country can find help with work or travel logistics, Bent says. A strong network will help people find better jobs throughout China.
Business Programs and Associate Teaching Professor of Business Management. The options available to our students are very diverse. While international study is encouraged for undergraduates, it is a requirement only for undergrad students who are International Management majors. However, all students may spend a semester or a year enrolled in another university anywhere in the world. We have initiated partnerships with undergraduate business programs around the world with the character of academic programs that will create value for our students, says Cofield. The preference by many international students is for universities with elite status in their home countries, Cofield says. Students also may choose to study in any program provided they are pursuing degree requirements. The first step is to identify the countries and programs of interest. Then they choose a potential set of courses and meet with a department advisor to obtain approval. Some BSBA students also take advantage of focused opportunities, such as international case competitions held in Germany, Hong Kong and Copenhagen.
John McClain MBA 07
Joseph Akpan MBA 08
Lydia Perr MBA 08, Christopher OLeary and Brian Cole MBA 07
Erren Lester MBA 08
CULTURE, COMPANIES AND CLASSROOMS As a leader of the group, Bent also enjoyed watching classmates react to new concepts ranging from ethical issues to buying food on the street. Because [my classmates] hadnt been brought up with the same micro and macro perspectives, it was interesting to see them experience the country and challenge what they were seeing. But the most enriching opportunities were the face-to-face meetings with company executives, who would not have been accessible to students traveling on their own. Baohong Sun, Associate Professor of Marketing, helped to identify the companies the students visited based on two criteria: those with similarities to U.S. companies and those with managers who had been educated in the United States. Some of the company contacts were made through alumni and relationships that students had developed on two informal trips to China in 2006. The students enjoyed the company visits, says Sun, which changed stereotypes of Chinas people and economy. They learned a lot about how classroom knowledge needs to be tailored and quickly connected what they were hearing to what they had learned at Tepper. Lydia Perr (MBA 08) concurs. Company managers were candid on both their challenges and successes, said Perr. By seeing a slice of their experience, our classroom work was made more real, more relevant.
INTERNSHIPS AND IMMERSION One formal affiliation that exists in the graduate program is its partnership with the Otto Beisheim School of Management in central Germany, where graduate business students may take an intensive four-week course that focuses on Western and Eastern Europe to study emerging, transitional and competitive economies. The course includes morning lectures provided in English; afternoon visits to companies, financial institutions and government organizations; evening sightseeing and social time to experience and enjoy the local culture; and a daytrip to Budapest. Other, similar programs are in the planning stages, possibly focusing on India, South Africa or Latin America. Overseas internships round out the Tepper Schools study abroad opportunities, as does Carnegie Mellons relationship with the Bosch Group, a leading German-based multinational corporation. A Tepper School partner, the Carnegie Bosch Institutes purpose is to support, educate and develop globally minded managers. We want students to be in a foreign business environment long enough to be immersed in the culture to see how business is done there, says Mather. The first awakening usually comes with seeing business through the eyes of another culture.
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As a project manager in the U.S., I might manage a team in another country. The people sitting around me could be from anywhere. The better I understand the relationships and diversity, the better I can understand my workspace and the better I can do my job and take advantage of creativity and resources out there in the world.
Geoffrey Bent, MBA FlexTime candidate 2008
businesswire I
Tepper School of Business alumni, faculty, staff and students make news around the world. Below is a sampling of recent media highlights that include the Tepper community. For more information, please visit www.tepper.cmu.edu/pressclips.
MAKING NEWS AROUND THE WORLD
New York Newsday / Consumers who favor full-service departments will pay more for seafood
Consumers who are likely to stay loyal to full-service seafood departments at supermarkets tend to spend more on their selections, according to research by Vishal Singh, Assistant Professor of Marketing. Singh also found that the arrival of a Wal-Mart Supercenter and its self-service seafood department results in an almost immediate 17 percent sales loss for nearby grocery stores.
Innovations Report / Professor joins Norges Bank Watch

Marvin Goodfriend, Professor of Economics at the Tepper School of Business, has joined the Norges Bank Watch 2007. The group of macroeconomists was invited by the Centre for Monetary Economics at the BI Norwegian School of Management to evaluate monetary policy in Norway.
The Economist / Checklist helps students evaluate

a business schools character
The Tepper School of Business believes that identifying a schools character is a factor on par with traditional ranking figures. Thats why, as part of its MBA Reality Check campaign, it has devised a checklist of questions students should ask when picking a school.
U.S. News and World Report / Soft skills important,

but the hard stuff is crucial
While MBA candidates get a strong dose of soft-skills training at the Tepper School, Dean Kenneth Dunn cautions that analytical skills are also crucial. Dunn notes that if schools cut back on core subjects such 26 as accounting, finance and marketing to focus on more qualitative learning, the United States will be at a competitive disadvantage because it will have to outsource analysis to the rest of the world.
CNBC / Tepper School MBA candidate appears on CNBC

Arthur Hyder, an MBA candidate 2008 at the Tepper School, appeared on Fast Moneys Grade the MBA feature.
USA Today / Electric rate freezes now trickling down to

worker shortages
The impending shortage in utility workers is fallout from deregulation, according to Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor, Director of Green Design, and Co-Director of the Electricity Industry Center. As many states froze electric rates in the 1990s, utilities cut payrolls to fatten profits and offset losses from the low-priced sale of power plants, Lave says.
The Straits Times / Tepper Prepper mentoring program

wins acclaim for MBA student
MBA candidate Colin Raneys mentoring project, in which secondyear Tepper School students tutor first-years, helped clinch him as the winner of the Graduate Business Conferences student leadership award. Raney, whose program is known as Tepper Prepper, says he believes in lifting team members up as high as possible so they can experience success.
Scientific American / Scientific American spotlights

organizational behavior research
A 1995 experiment by a team of researchers, including Linda Argote, Carnegie Bosch Professor of Organizational Behavior and Theory, and Director, Center for Organizational Learning and Innovation, demonstrated how team members benefit from their collective knowledge when they learn together. The researchers trained college students to assemble transistor radios either alone or in groups of three, and found that groups that trained together got better results.
Pittsburgh Post-Gazette / Tepper School initiatives

reflect growing interest in sustainability
Sustainability is an important area in the MBA curriculum, and the Tepper School has or is developing several initiatives as a result, says Art Boni, John R. Thorne Chair of Entrepreneurship, Associate Teaching Professor of Entrepreneurship, and Director, Donald H. Jones Center for Entrepreneurship. For example, the schools McGinnis Venture Competition added a special prize in sustainable technology this year, and plans to make it an ongoing part of the competition.
BusinessWeek / Good networking starts from the ground up

Summer interns who are looking to network should start by reaching out to people who can still identify with a student intern, advises Ken Keeley, Executive Director of the Tepper Schools Career Opportunities Center. Waiting until later in the summer to talk to higher-ups also increases the chance that a colleague will put in a good word for the intern, he notes.
Wall Street Journal / Companies should act on problems

identified by workers
It is good practice for companies to track employee attitudes, according to Robert Kelley, Adjunct Professor of Organizational Behavior and Theory. However, such efforts can backfire if companies dont act on problems that workers identify, Kelley notes.
Christian Science Monitor / Enforcement of power grid

reliability may be tough, says Apt
Heavy fines levied by the North American Reliability Corporation for power outages may be difficult to enforce, since the organization is run in part by the power companies it regulates. Jay Apt, Executive Director, Electricity Industry Center, Associate Research Professor, and Distinguished Service Professor in Engineering and Public Policy, says plans for NERC to enforce a federal mandate for grid reliability will make for an interesting experiment.
Forbes.com / Dunn reappointed as dean of Tepper School

Carnegie Mellon Universitys Board of Trustees has appointed Kenneth B. Dunn to a second five-year term as dean of the Tepper School of Business. Dunns new term begins in July. 27
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Associated Press / Spatt to leave SEC, return to Tepper School

After serving three years as the chief economist for the Securities and Exchange Commission, Chester Spatt is returning to the Tepper School, where he is the Mellon Bank Professor of Finance and Director of the Center for Financial Markets. While at the SEC, Spatt conducted analyses of the impact of securities regulations, touching on almost every area of securities law.
The Economist / Lerrick: World Bank should invest

in capital markets
The World Banks income is really the return on cost-free capital that belongs to its shareholders, and not money made from projects in middleincome countries, says Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Lerrick says the bank should invest these funds in capital markets and use the income on projects in the poorest countries, instead of lending it to governments that dont need it.
Wall Street Journal / More regulation is not the answer

for hedge funds
Although Congress is about to propose new rules governing hedge funds, more regulation is not the answer, according to Allan Meltzer, Allan H. Meltzer University Professor of Political Economy. Meltzer says it is far better to change some incentives for excessive risk-taking.
Wall Street Journal / Wall Street Journal Ranks Tepper

School No. 5
The 2007 Wall Street Journals rankings of M.B.A. programs ranked the Tepper School of Business at No. 5 in the U.S. among 19 nationallyranked programs. The special report, titled The New Battle for M.B.A. Grads, also ranked the Tepper School as second most improved school in the country and fourth best for graduating M.B.A.s who are creative and innovative leaders two new rankings in this years report. Tepper School graduates also were ranked eighth for having high ethical standards, and recruiters ranked the school ninth best in the country for recruiting minority M.B.A. graduates.
Pittsburgh Post-Gazette / Students roll up sleeves

for ethics training
Approximately 240 first-year students from the Tepper Schools MBA and MSCF programs got their hands dirty as part of the ethics training during Orientation Week. The idea behind the program is that business relies on the community for its success, so it benefits students to improve their surrounds, says John Hooker, T. Jerome Holleran Professor of Business Ethics and Social Responsibility, Professor of Operations Research.
Cmon in, surfs up.

Introducing The Tepper Web Experience
Its a great time to visit the new Tepper School web site. As a source of B-school news and knowledge, tepper.cmu.edu now has a new design and new online features that make it easier than ever to learn, network and stay connected with your professors and classmates.
Multimedia: video, podcasts, iTunes U
Lifelong Learning: executive speakers, faculty research
Online Community: Tepper bloggers, alumni directory
News & Information: alumni chapter events, RSS, Tepper in the news
www.tepper.cmu.edu
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FALL 07
Rosenberg have started an institutional third party marketing firm, Ocotillo Capital, LLC. James Mechtel (BS) has moved to Brick, N.J., and has started another business, Powrgroup, which provides practical education to businesses. Last year, Yair E. Orgler (MSIA, Ph.D.) stepped down as chairman of the Tel Aviv Stock Exchange after serving 10 years in this position, the maximum allowed by Israels Securities Law. He is presently serving on the boards of directors of several large Israeli companies, including Bank Hapoalim and Israel Chemicals Ltd., and on the executive committees of several nonprofit organizations.
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1956
Joel Levinson (BS) continues his work as an industrial appraiser and has just had his second book published, Wings for J.R., which follows Spiral Bound. He has a photographic essay entitled Pittsburgh: Views in the 21st Century.
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Joel Levinson (BS 56)
1969
David Bree (Ph.D.) is emeritus professor at the School of Computer Science at Manchester University, U.K., which recently amalgamated with the Manchester Institute of Science and Technology. David was recently appointed at the Institute for Scientific Interchange, Turin, Italy, to work with a European research group on multi-agent systems, modeling economic and biological phenomena. In 2002, he married Wendie Shaffer, translator of art and historical works from Dutch to English. If youve been to an Amsterdam museum, youve read her texts.
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www.tepper.cmu.edu
1965
The book, The Political Economy of Polands Transition, co-authored by John Jackson (BS, MSIA), Jacek Klich and Krystyna Poznanska, received the Ministers Award from the Polish Ministry of Science and Higher Education. John is the M. Kent Jennings Collegiate Professor of Political Science at the University of Michigan.
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1966
James Yanni (MSIA) has retired from Yanni & Company Investment Advisors. He is in the process of setting up a family foundation devoted to charitable activities.
Gordon Cohn (BS 69), Shlomo Finkelman, Rabbi Mordechai Finkelman
1967
40-year Class Reunion Oct. 26 27, 2007 Having spent the last 30 years in institutional investment management, Elliott Gartner (MSIA) and Seth
Gordon Cohn (BS) is a professor of accounting at Touro College in New York and has published two new articles on the Jewish perspective on the requirement to pay taxes.
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KEY
Tepper School Degree and Program Codes
BSIM IWM MBA MSCF MSEC MSIA MSQE PFE Ph.D. Bachelor of Science in Industrial Management International Wealth Management Master of Business Administration Master of Science in Computational Finance Master of Science in Electronic Commerce Master of Science Industrial Administration Master of Science in Quantitative Economics Program for Executives (Executive Education) Doctor of Philosophy
U P DAT E S , E V E N T S , T E P P E R K N O T S & T E P P E R T O T S
1970
Rawley Thomas (MSIA) became vice president of practitioner services of the Financial Management Association (FMA), chairman of the practitioner research committee and chairman of the CFA Society of the Practitioner Demand Driven Academic Research Initiative (PDDARI) Task Force. Its mission is to bridge the gap between Practitioner Professional Association needs for academic research and academic supply from FMAs members. He is president of LifeCycle Returns, working in advanced automated DCF valuations and risk measurement with Stable Paretian Distributions for portfolio construction.
1974
Peter Saretsky (BS, MSIA) recently became CFO of Achieve3000, a sixyear-old rapidly growing company that provides web-based educational content and training to children, adults and teachers to improve reading and writing skills. Achieve3000 sells directly to school districts and currently has more than 700 customers in 37 states and more than half a million users of their products. They are building a strong company and helping kids at the same time. A great combination! After nine years as partner with the Boston Consulting Group and more than 32 years working for large consulting firms, Stuart Scantlebury (MSIA) has retired. He is now a senior advisor to BCG, a member of the Presidents Advisory Committee at Berklee College of Music and taking on select consulting assignments.
Yoshihiko Mikami (MSIA 71) and his family, Tomoko, Ayako and Haruko
1972
35-year Class Reunion Oct. 26 27, 2007 George Brown (BS 69, MSIA 69, Ph.D.) relocated to Rhode Island from Florida. He continues in the position of CEO of Blue Canyon Partners, Inc. and recently published a paper titled Business-to-Business Economics that provides a conceptual basis for pricing and value capture in suppliercustomer relationships. Besides running his private equity business, Eduard M. Brunner (MSIA) is also the president of the ETH Alumni Association, which is the association of the graduates of the Swiss Federal Institute of Technology in Zurich, Switzerland. Since September 2006, Yuzo Fujioka (MSIA) has been a lecturer at the Graduate Institute for Entrepreneurial Studies, Niigata, Japan. The graduate school was founded in 2006 as a business school with some help by Babson College in Massachusetts. Jeff LaRochelle (BS/MCS 72, MSIA) has had work responsibilities for the past twelve years that have involved almost 100% travel to locations where client engagements need the detailoriented support and assistance that his experience at the business school helped to sharpen. The past three years have been spent in support of an engagement with the Navy and Marine Corps from offices in the Washington D.C. area. Jeffs son, Jarrett, holds a BS from Tepper, Class of 2000.
Carnegie Mellon College Codes

CIT CS HSS HNZ MCS Carnegie Institute of Technology Computer Science Humanities and Social Sciences H. John Heinz III School of Public Policy & Management Mellon College of Science
1971
Doug Linton (MSIA) was elected to the board of directors of Bradley Pharmaceuticals in October 2006 and will be moving to Charlotte, N.C., in January 2008. He is a self-employed consultant in pharmaceutical distribution in association with ValueCentric LLC. F. Doug Tuggle (MSIA 67, Ph.D.) is a professor at the George L. Argyros School of Business and Economics, Chapman University, and has joined Insight Consulting Partners, LLC on a part-time basis. Doug has also been elected to the board of advisors of the University of Creative Leadership of Entrepreneurship in Breda, Holland. After retiring from IBM Japan, Ltd., in 2001, Yoshihiko Mikami (MSIA) moved from Tokyo, Japan to Dalian, China, working for Dalian Software Park Co., Ltd., four days a week. He now invites the worlds largest companies, such as IBM, HP and Sony, to come to China to do ITO (software development outsourcing) and/or BPO (business process outsourcing). Last year, Yoshi opened a coffee shop in Dalian, starting his own business for the first time since graduating.
2007
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Join us for Alumni Reunion Weekend.

October 26 27, 2007.
Special celebrations for
classes of 2002, 1997, 1992, 1987, 1982, 1977, 1972, 1967, 1962, 1957 and 1952. For more information, go to: alumni/reunion
Stuart Scantlebury (MSIA 74)
www.tepper.cmu.edu/
1975
Marc Onetto (MSIA) has moved to Seattle and is senior vice president for Amazon.com.
1976
Manuel Amaya (MSIA) was selected by Avery Dennison to lead their office product North America (OPNA) outsourced business. Manuels new position of senior manager, purchased finished goods OPNA, combines into one department a business that had been managed by three different
business unit managers in the past. His home continues to be Southern California, where he has coached his Foothill Storm Girls club soccer team to second-place finishes two years in a row. Manuel and Patti celebrated 30 years of marriage this past year, and they both are excited about attending next years graduation for both of their sons, Kevin and David, as they receive their medical and law degrees, respectively. It has been a wild ride for Rita Resick (MSIA) since graduation. Rita rose to CFO of Medrad, a manufacturer of medical imaging equipment. She left to run her own business in radio broadcasting, then sold it and retired to their farm, Laurel Vista Farm, to grow green beans, sweet onions and potatoes for the Pittsburgh regions growing demand for local food. Together with her husband, Rick Stafford (BS/MCS 68, MS/HNZ 72), she is also doing consulting work in rural economic development to integrate produce growers and organize their connections to formal markets like wholesalers, food service/restaurants and grocery stores. Upon the completion of his masters degree, Tadamichi Tomita (MSIA) was sent by Mitsubishi Corp to Germany to take responsibility for Mitsubishis automobile business over five years. He attended the executive seminar of INSEAD in France in 1985 and, in 1986, joined Daimler Benz in Japan as senior vice president. After that, in 1995, he switched his job from marketing to finance. During that time, he attended the executive management seminar at Stanford University. In 2007, Tad retired from management and became the senior advisor of DaimlerChrysler Financial Services. Tad and Kyo have been married for over 39 years and have three children, Hirono, Naomichi and Tadateru, and two grandchildren, Yuu, 9, and Shogo, 1. Tad and Kyo had a great time seeing old friends at their reunion in October 2006.
After 27 years with Ford, Paul Meisel (MSIA) cut the umbilical cord and recently started as controller/CFO for Scott Process Systems, a custom pipe fabricator serving the energy industry. John Ridge (BS) is the contact center director for Home Properties. He and his wife, Marjorie, have a 24-year-old son, Austin, who is in the Marine Reserves and is graduating from SUNY Brockport in May. In addition to spending time with his family, John is an avid hiker.
1981
George Walsh (BS/CIT 77, MSIA) and his wife, Melanie, recently celebrated their 25th wedding anniversary. They live in Wilmington, Del., with their two daughters, Laura and Nicole. George is an R&D project manager at Agilent Technologies, responsible for chemical detectors and robotics.
Family of Tadamichi Tomita (MSIA 76), granddaughter Yuu, Kyo Tomita, daughter Hirono, son Naomichi, grandson Shogo, daughters-in-law Motoko and Kayo, and son Tadateru DLane Wisner (MSIA) formed his own consulting firm, in 2003, that promotes beneficial and safe uses of polymers, especially in green building. DLane and Ann have recently re-located their home and the business to Raleigh, N.C.
1982
25-year Class Reunion Oct. 26 27, 2007 Thornton May (MSIA) recently completed a trip to Delhi where he had lunch with the finance minister, P. Chidambaram; dinner with the former president of Pakistan, Benazir Bhutto; breakfast with Vijay Amritraj; and in the afternoon met with the lumerati of Bollywood including Mira Nair, the director of Namesake. Daniel Nichols (BS) is the PMO director of applications development for the City of New Yorks department of finance.
1980
Jay Aronson (BS/CIT 75, MS/CIT 76, MSIA, 78, Ph.D.) is professor of MIS at the University of Georgia (UGA) and has been there since 1987. In the summer of 2006, he worked in Costa Rica on a strategic plan for a UGA facility. He travels regularly to Europe, Central America and South America to teach and work. In addition, he has been performing improvisational comedy in the Athens, Ga., area for about two years as part of a group called MindTeazers. Jay, his wife, Sharon, and daughter Stephanie live in Athens. Their other daughter, Marla, graduated from Georgia Tech in the summer of 2006 and works in Atlanta, and their son, Michael, is a secondyear chemical engineering student at Georgia Tech. Dan Skantar (BS) has volunteered as a board member for Management Game, a required course for seniors in the business school. This was his first connection to current Carnegie Mellon students in more than 25 years. Dan enjoyed seeing all the changes to campus such as the spectacular University Center, which is quite a change from the Skibo of his era. He was very impressed with the student team members, Vlad Loktev, Joy Ho, Dennisse Navas and Lauren Hoffman, who are exceptionally bright and made him proud to be an alumnus. He found this to be a very rewarding way to give back to the school and hopes to be invited back next year.
1977
30-year Class Reunion Oct. 2627, 2007 Ted Milkovich (BS) accepted a new role within Novell, Inc. and is now director, Americas Global Strategic Partners (IBM, HP and DELL). During his 18 years at Novell, he has held a number of positions, including director of Linux Sales, Southeast Area; director of Partner Sales, Southeast Area; director of Sales, U.S. Federal; and director of Sales, mid-Atlantic district. J.B. West (BS) is the CTO of his company, LuminTerra, LLC, with four other colleagues. They are in the third successful year of downsized work, with a good measure of time for other pursuits such as restoring a 1938 log house on the Whidbey Island coast.
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www.tepper.cmu.edu
1983
Jim Dean (MSIA 80, Ph.D.) has been named senior associate dean for academic affairs at the University of North Carolina at Chapel Hill, Kenan-Flagler Business School.
1984
Robert Byrne (MSIA) was named a 2007 Provider Pro to Know by Supply & Demand Chain Executive magazine. Julie Glover (MSIA) is in her 23rd year with Verizon. Her husband, Mark Satinsky (MSIA 84), was an American Airlines Road Warrior finalist this January. He is CEO of Agile Mesh, a start-up selling rapidly deployable video surveillance equipment to government and police departments. Prior to starting Agile Mesh, Mark, along with Eric Fleischman (MSIA 84), created Valchemy, a company selling merger and acquisition software.
1979
John Ball (MSIA) is the co-founder of a professional services firm, XRoads Solutions Group, which services financially distressed firms.
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1985
1987
20-year Class Reunion Oct. 26 27, 2007 Mark Nichols (MSIA), having left IBM, is now the business unit controller for IDT in San Jose, Calif. Scott Good (MSIA), president of New Mission Consulting, is working in the Peoples Republic of China on an interesting project involving religious freedom expansion. He and his son Kai traveled to Beijing, where he ran the Great Wall Marathon, albeit very, very slowly.
Sumru G. Altug (MSIA 82, Ph.D.) is a professor of economics at Ko University in Istanbul, Turkey, and a research fellow at the Centre for Economic Policy research in London. She has published papers in the areas of business cycles, intertemporal models of consumption and labor supply, investment, productivity and growth, and banking and financial market phenomena. Thomas Nyiro (MSIA) is still with Deutsche Bank in Risk Management, now in London as global head of exposure management.
in Paris and moved to London to start European Venture Partners (EVP), Europes first dedicated venture debt provider. They successfully launched their first fund, EVP I, before the VC markets crashed. EVP now has offices in London, Tel Aviv and Stockholm and has committed over $420 million while managing third-party institutional money from a dozen different financial sponsors, and has expanded funds EVP II and III. In late April, they will change their name from European Venture Partners to Kreos Capital to coincide with the addition of a new partner, a new COO and an expanded product offering. Ross, his wife, Suzanne, and 10-yearold daughter, Alexandra, live in Mallorca, enjoying a bit of the island sun and sea.
1989
Thomas Cucuzza (MSIA) recently produced an original film with his brother Robert, who wrote and directed the film. The Armed Boy was premiered in Detroit, Mich., in March 2007 as part of a multi-media live concert, The Armed Man: A Concert for Peace. Douglas Jack (BS) has taken a new job as senior OD consultant with Legg Mason, the fifth-largest asset management firm. For this Baltimorebased firm, he will be building talent management initiatives around senior leader selection and development, and succession management processes in international offices and in New York City and Stamford, Conn. Albert Johnson (BS 83, MSIA) is on the board of directors and is chairman of the finance committee for the Industrial Research Institute, and hes also on the board of the UniversityIndustry Demonstration Project at the National Academies. Dave Sikora (BS) was promoted to senior director of operations of the transportation management systems division of Orbital Sciences Corporation. Dave and his wife, Valerie (BS/H&SS 88), moved from Spring Hill, Fla., back to the Columbia, Md., area this summer.
1986
Lauth, one of the nationss leading development and contracting companies, announced the addition of Anthony Amendola (BS/H&SS 84, MSIA) as vice president of development operations. Before joining Lauth, he served as vice president of development for Concord Estridge, where he developed projects within five geographic markets in the Western United States and was the linchpin of their publicprivate partnership delivery mechanism. Twenty years after his fathers graduation, Hemant Chordias (MSIA) son, Atishe Chordia, has enrolled at Carnegie Mellon as an undergraduate. Ginger Halstrom (MSIA) recently received the Presidents Volunteer Award for the more than 1,000 hours she has committed to Girl Scouts. Scott Minor (BS/CIT 78, PFE) is the CEO of CyberUtility, LLC in Cleveland. Owner and CEO Paul Posner (MSIA) reports that Pocket Communications recently signed up its 100,000th customer. Pocket has 500 sales locations around the San Antonio area.
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Scott Good (MSIA 87) David Vurdelja (BS), continuing his nine-year career in the telecommunications industry, is now a business development manager in the corporate development group at Sprint. Projects are centered on early-stage evaluation and development of new products and partnerships in broadband product lines, including their new fourth-generation wireless broadband product. In other community involvement, he is now serving as vice president in the Washington, D.C. Carnegie Mellon alumni chapter.
Ross Ahlgren (MSIA 88)
Heather Burns (BS) is a partner with the law firm of Upton & Hatfield, LLP in Concord, N.H., where she practices employment law and medical malpractice law. Heather is currently the president of the New Hampshire Trial Lawyers Association. She lives in Concord with her husband, David Burns, their two sons, Thomas, 8, and Matthew, 4, and their new golden retriever, Gryffindor. Toyoaki Ishikawa (MSIA) is a managing director at BearingPoint Co., Ltd. and is responsible for the financial services groups of both Japan and Asia Pacific. After 17 years as an investment banker, Lee Shepard (BS/MCS 85, MSIA) decided to completely change careers and is now practicing corporate law in California.
1988
After graduation, Ross Ahlgren (MSIA) joined American Airlines for almost two years. He then moved to American International Group (AIG) in New York to work with Jeff Adams (MSIA 88). After more than eight years with AIG, the last five being in Paris, Ross left AIG Europe in 1998 as the COO of the European operations based
Dave (BS 89) and Valerie (BS/H&SS 88) Sikora
Kevin Stoll (MSIA) was recently promoted to BU president for key accounts and distribution of Astec Power, a division of Emerson. Kevin, his wife, Edith, and Erica, their 8-year-old daughter, are living in Orange County in Southern California.
At the end of 2006, Lloyd Fletcher (MSIA) retired as the head of IT at the Institute of Physics Publishing. Now, in addition to some consulting projects, hes taking time out to work on more creative, volunteer and home projects. Frederick Perreand (MSIA) was promoted to vice president, procurement for Emerson Process Management, St. Louis. Rajeev Mehta (MSIA 92), Cognizant COO, Global Client Services; Gordon Coburn, Cognizant Chief Financial and Operating Officer; Hon. David T. Hopper, U.S. Consul General in Chennai, India; Francisco DSouza (MSIA 92), Cognizant President & CEO; Charlotte Croswell, President of NASDAQ International; Lakshmi Narayanan, Cognizant Vice Chairman; and Chandra Sekaran, Cognizant President, Global Delivery Douglas Donehoo (BS) is a relationship manager with First Republic Bank in Los Angeles. Additionally, Doug is one of two managing members of a new restaurant opening in West Hollywood. Marie Colantoni Pechet (BS/MCS 84, MSIA) is enjoying semi-retirement from business and is spending most of her time with her two sons. Marie recently joined Gina Dokko (MSIA 91) and other friends for a weekend at the Kripalu Center for Yoga and Health in western Massachusetts. In addition to practicing yoga and generally unwinding, they also took a knitting course with Karen Allen, the actress from Raiders of the Lost Ark. The class was a blast, and Gina, as usual, received accolades for her work in the class. For the past nine years, Adam Walden (BS) has been the president of Gen Art, a national arts and entertainment organization dedicated to showcasing emerging talent in film, fashion, art and music. Gen Art produces more than 120 events annually through its headquarters in New York and offices in Los Angeles, Miami, San Francisco and Chicago. Adam frequently sees Peter Stern (BS/CIT 89), Susan Abdalla (BS 94), Greg Bradshaw (BA/CFA 92), Christy Moore (BS/H&SS 94), Robert Bethge (BS 90), Andrew Milmoe (BFA/CFA 91), Colin Brice (BA/CFA 93) and Ella Leers (BS/MCS 91).
1990
MSA, the global leader in sophisticated safety products, announced the election by the MSA Board of Directors of William Lambert (MSIA) to the newly created position of president and chief operating officer of the company. He is responsible for MSA North America, MSA Europe and MSA International. William had served as president of MSA North America since January 2003. Dave Trapani (MSIA) recently joined AstraZeneca Pharmaceuticals as director of asset strategy and capabilities after 16 years of working at Capgemini. Dave and his wife, Jocelyn, just celebrated the first birthday of their son, Garrett. They live just outside of West Chester, Pa., and invite any alumni, especially class of 1990, to stop by.
1993
Deepak Ahuja (MSIA) has recently returned to the states after a four-year stay in Johannesburg, South Africa. It was a fantastic experience learning about African history and culture, exploring the beautiful landscape and visiting the game parks. Working as the CFO of Ford Southern Africa provided him with a good perspective the dynamic growth happening in developing countries these days. Larry Bortner (MSIA) has accepted the position of director of business intelligence at TheLadders.com. On February 13, Larry, his wife, Carolyn, and 2-year-old daughter, Jennifer, welcomed their newest family member, Lauren Sophia Bortner. Eric Bradley (BS) is counsel for ECHO Real Estate Services Company in Pittsburgh. He is also the president of ECHO Settlement Services, LLC and has been named a Pennsylvania Super Lawyers Rising Star in both 2005 and 2006. Eric, his wife, Jill, and their 2-year-old daughter, Paulina, live in Pittsburgh.
1992
15-year Class Reunion Oct. 26 27, 2007 Francisco DSouza (MSIA), president and CEO of Cognizant Technology Solutions, and Rajeev Mehta (MSIA 92), chief operating officer, global client services, Cognizant Technology Solutions, together with other members of the Cognizant and NASDAQ leadership team made history by recently being the first American company to open the NASDAQ remotely from Chennai, India. Christopher Carfi (MSIA), principal at Cerado, Inc., reports that their new Haystack networking service for businesses and organizations is growing by leaps and bounds. He recently facilitated a case study session at SuperNova in San Francisco and was in New York at the Corante Innovative Marketing Conference, and Cerado was selected to present at last months TechDirt Greenhouse, where they posed the question, Is the enterprise ready for social networking? In October 2006, Louis DiCriscio (MSIA) took the position of senior vice president and CFO of the Corcoran Group, the largest residential real estate company in New York City with offices also in the Hamptons and Palm Beach.
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www.tepper.cmu.edu
1991
Sujit Bhattacharya (BS 91, MSIA) has a new role in TXU as strategic sourcing principal consultant, in which he focuses on transactions that range from five-figure to nine-figure deals.
Sujit Bhattacharya (BS 91, MSIA 95), his wife, Richa, and daughters Sarina, 4, and Sonia, 4
Paulina Eve, daughter of Eric Bradley (BS 93)
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met with Chris Abouchar (MSIA 94) when he visited them last spring before his familys move to Arizona. Ryan Knutson (MSIA) has been promoted to controller for purchasing and supplier quality at PACCAR, Inc. in Bellevue, Wash. Previously, Ryan was the director of engineering accounting for PACCARs Peterbilt Division in Denton, Texas. In April 2006, Irene, Maya, 4, Radha, 1, and Byas Nambisan (MSIA) moved to Bangalore, India on a 2- to 3-year assignment with Intel. Byas is director and CFO of Intel India, while Irene is with Intel South Asia sales and marketing. Bangalore is where he grew up, so it is a sort of homecoming, although its been 16 years since he left and a lot has changed. Sharon Bluestein (MSIA) married Jonathan Sadinoff on May 28, 2006, at the Omni William Penn in Pittsburgh, Pa. The couple now resides in Manhattan. Sharon continues her 12-year career with Ford Motor Company with a new position as the national port operations and logistics manager for Jaguar and Land Rover. David Seiner (MSIA) has been a financial advisor with Ameriprise Financial since graduating from the Tepper School in 1995. He is a Certified Financial Planner and a Senior Financial Advisor, working in the Monroeville, Pa., office. David recently was a panelist for the Journal of Financial Planning Frontier Awards. He achieved a second-degree black belt in Seidokan Karate in 2005 and enjoys being the assistant percussion instructor for Penn Trafford High School Marching Band and eighth-grade religious school teacher at Temple David in Monroeville, Pa. Leah Chiavacci Shuldiner (MSIA) has taken a position as the director of resource development for Child Health Services, a clinic that provides medical, psychosocial and nutritional care for disadvantaged kids in Manchester, N.H. Leah will head the fundraising and community relations activities for the organization. Nicholas J. Colella (MS/MCS 79, Ph.D./MCS 86, PFE) joined Incubic as a venture partner in January 2007. He serves on the science advisory board of Zyvex Corporation, a nanotechnologies company. He also serves on the board of Ultracell Corporation, a privately funded company manufacturing reformed methanol fuel cells. From August 2001 through December 2006, he served on the senior executive team of Tessera, Inc. During his nearly five-year tenure at Tessera as senior vice president, Nick built and led the companys product miniaturization division and contributed to corporate strategy. Douglas Frank (MSIA) completed his Ph.D. in managerial economics and strategy at Northwestern University in June 2006. Doug, his wife, Lisa, and daughters, Emma, 3, and Clara, 1, moved to France, where he is assistant professor of strategy at INSEAD in Fontainebleau.
Stephanie Horwitz (BS) completed her MBA this spring at the University of California at Berkeley, Haas School of Business, and also studied abroad as an exchange student at the Indian School of Business in Hyderabad, India. Jordan Rosner (MSIA) is a volunteer EMT (emergency medical technician), volunteering 20 30 hours per month. Recently he was awarded a Life Saving Citation by Westchester County Emergency Medical Services and a Life Saving Medal from the Town of Scarsdale for helping to bring back to life a person who had suffered a stroke. This person was able to return to his family after a short stay in the hospital. Ted Wadsworth (MSIA) is now a promotional inventory manager at Boston Beer, makers of Samuel Adams. Ted and Leila welcomed their second daughter, Emma Lee, who was born on March 27. Emma joins 3-year-old Anna Mae.
Dave Drach (MSIA 94) and Matt Wagner (BS/MCS 90, MSIA 94) Matt Wagner (BS/MCS 90, MSIA), owner of Bob Wagners Flooring America, his wife, Jenn, and their kids, Sam, 11, and Emma, 8, visited Amy and Dave Drach (MSIA 94) and their kids, Thomas, 17, and William, 12, in Highlands Ranch, Colo., in August 2006, for a whirlwind vacation of hiking, swimming, eating Mexican food and reliving Game. The Wagners continued on to Denver where they discovered the best bowling alley and passed, punted and kicked at Mile High Stadium.
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1994
1995
After two great years in New York City, Marlene and Ernesto Arteta (MSIA) have moved back to Chicago. They will miss the excitement of the city and all the Tepper alums in the area, but are happy to be back in Chicago. They announce the birth of their first child, Graham Sebastian, who was born January 18. Ernesto joins fellow Tepper alum Steve Kroah (MSIA 95) at Lotsoff Capital Management, where he is an assistant portfolio manager in the hedge fund group. In 2006, Babak Bazmi (MSIA) took a new position within Merck & Co., Inc., as senior director of marketing Communications for GARDASIL. He is responsible for managing the global promotion and advertising of GARDASIL to health-care providers and consumers.
Clara, 1 and Emma, 3-1/2, daughters of Doug Frank (MSIA 95) Sammy Kashy (MSIA) has joined PayNet, Inc., the leader in predictive analytics for the business lending industry. Their growing database of over $400 billion in lending history allows them to most accurately predict the performance of small to medium-sized business borrowers. Michael Kim (BS) has started a software and systems engineering consulting company, Counterpointe Solutions, Inc., in Washington, D.C., with two friends. They are on the verge
Nurca (MSIA 94) and Erkan (MSIA 94) Bozkurt, with sons, Arman, 5 and Tolga 1-1/2 Nurca (MSIA) and Erkan (MSIA) Bozkurt moved to Chicago in 2000 and are both working for Kraft Foods. Erkan is the director of analytics for the grocery sector, while Nurca is shopper analytics manager for Krafts shopper insights & analytics group. They are happily busy raising their two boys, Arman, 5, and Tolga, 1. They last
of winning their first prime contract. He has been happily married to his beautiful wife, Jane, for almost seven years now, and they have a 3-year-old daughter, Rayna, and a 1-year-old son, Isaiah. Yutaka Osawa (MSIA) is the president of Pinpoint Marketing Japan Inc. in Seattle. They help Japanese manufacturers find appropriate sales partners in the United States. Dimitris Papageorgiou (MSIA) lives in Athens, Greece, working as a freelance business consultant. Currently, he is working on two large government projects concerning the implementation of IT systems for the public sector and is also doing a change management project for a private company.
1997
10-year Class Reunion Oct. 26 27, 2007 Brian August (MSIA) relocated to San Francisco after leading a successful sales effort in the pulp and paper industry and is now vice president, director of strategy at AFR Holdco. He is enjoying the warm weather, ample outdoor activities and proximity to the ocean. Kayra, nearly 1, and Evren, 5, children of Pinar Keskinocak (MSIA, 94, Ph.D. 97) Michael Lin (BS) has left UBS and is now in a new position at Deutsche Bank in the Structured Equity Finance group.
Massimo Cerri (MSIA 97)
Roshini Nibbs Cope (BS 97) and Adima Cope Lyenda Simpson Delp (MSIA) and Warren (Phil) Delp (MSIA) proudly announce the arrival of their second daughter, Wren Penelope Delp, who was born on February 18. Their older daughter, Willow Paige, is 3 years old and is excited about her baby sister. The Delps reside in Glen Ridge, N.J. Lyenda continues to work at Goldman Sachs Asset Management and Phil at Global Crossing.
1996
After a year and a half of coursework and studying, Andrew Barrow (MSIA) passed the 10-hour comprehensive CFP exam and is now a Certified Financial Planner professional. Tristan Brandt (MSIA) recently joined News International to head up a development program to re-launch the websites for The Times and The Sun newspapers. Katie and Ben Hur Castro (MSIA) welcomed their third boy on October 23, 2006. Adam joins Ty, 5, and Luke, 3. Ben has also joined Seagate, via the Maxtor acquisition, as the director of product line management for the Seagate Branded Solutions group. Scott Foust (MSIA) was promoted to senior vice president of product operations at First Data Corporation at the end of 2006. Working within the First Data commercial services group, his duties include strategic planning for the product group, product communications and the new product development process. Scott, his wife, Michele, and their kids, Katie and Ryan, continue to enjoy living the Colorado lifestyle. Having co-founded the France alumni chapter, in 2005 Massimo Cerri (MSIA) joined Alcoa, European Mill Products as business and marketing manager for Circles & Shapes, Europe. Reporting to the companys headquarters in Geneva, he is based out of the French office and travels extensively. He is responsible for initiating, facilitating and supporting actions involving sales, technical, logistics and production colleagues with the accountability of profitably reaching the yearly plan in volume and value. Massimo, his wife, Florence, and 3-year-old son, Alessandro, live in Paris. Roshini Nibbs Cope (BS) was married to Adima Cope onboard Royal Caribbeans Navigator of the Seas while docked in Miami on November 11, 2006. Laura Seejattan (BS 99), Tyrone Rouse (BS/CIT 97) and Kellee Brownlee (BS/CIT 00) were in attendance. The couple honeymooned for two weeks on a western then eastern Caribbean cruise.
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Krista Markert (MSIA 97) with sons, Casy, Ryan, Conner and Reagan Dan and Krista Markert (MSIA) welcomed Reagan Gunnar to the family in October 2006. He joins big brothers Casey, 8, Ryan, 4, and Connor, 3. In January 2007, Kristas employer of almost seven years, Good Technology, was acquired by Motorola, and she joined the Motorola Mobile Devices Group and manages a small PMO. Kerim Paker (MSIA) is now the managing director of the Turkish subsidiary of Vedior, a global HR consulting company. Richard Pentuk (MSIA) has spent nine years marketing financial derivatives for regional banks in Pittsburgh and Seattle. He was very successful in that endeavor, but has left to start two
Wren and Willow Delp, daughters of Lyenda Simpson Delp ( MSIA 97) and Warren (Phil) Delp (MSIA 97) Pinar Keskinocak (MSIA 94, Ph.D.) is associate professor at the H. Milton Stewart School of Industrial and Systems Engineering, Georgia Institute of Technology. Pinar and Bulent are the proud parents of Kayra, nearly 1, and Evren, 5.
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new ventures. He is president of two companies, RPMarketing Associates (RPM) and RPFinancial Associates (RPF). RPM performs specialized marketing and advertising for small businesses. RPF provides derivatives consulting to corporate and middle market clients. While in Bellevue, Wash., he and his wife, Allie, set up the HeLP Preemies Fund to assist premature and special-needs babies and their families at Overlake Hospital. The fund is named in celebration of their daughter Heleyna, who spent 58 days in the hospitals NICU.
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Kimberly Brown Brannon (MSIA) completed a 14-week Chief Information Officer (CIO)/Advanced Management Program at the Information Resources Management College (IRMC) at the National Defense University (NDU) in December 2006. The program is designed to prepare future CIOs and IT leaders from defense, military and government organizations. David Eiben (MSIA) began his seventh year with Boehringer Ingelheim Pharmaceuticals with a new job, assuming the role of associate director in the promotional services role of the marketing organization. In this new role, David supports the FDA submission process for all physician and DTC branding pieces for all BI Respiratory brands. David, Tracey, twin three-year-olds Matthew and Steven, and six-year-old golden retriever Hannah are still hunkered down in Ridgefield, Conn. Mark Harris (MSIA) recently moved to Connecticut as the Prestone supply chain leader with Honeywell. Glenn Harbold (MSIA) married Patty Kim in September 2006 at his undergrad alma mater, Cornell University. They are living in Cleveland Heights, Ohio, and he is still working at GasTran Systems.
Shawn and Jennifer Kane McGurrin (MSIA) welcomed Jack Christopher on February 22. Jack joins older brother, Flynn, who is 3. John Moyer (MSIA) has launched a new security software company, BeyondTrust, after selling DesktopStandard to Microsoft in late 2006. DesktopStandard was the first software venture he co-founded upon graduation from Tepper. Among the founding BeyondTrust team is Scott McCarley (MBA 04), director of marketing. Ajay Parkhe (MSIA) moved to Milwaukee to join GE Healthcare as global pricing executive. He moved there from Pittsburgh after spending six years at McKinsey. Ajay and Manju have two daughters, Annika, 2, and Avanti, 5.
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Claudia Alcala (MSIA) married Michael Alexander Bressler II on March 16 in Caracas, Venezuela. They reside in Chicago, where Claudia is a senior associate with Booz Allen. Fellow classmates attending the wedding were Jasmine Chung (MSIA), Jyotsana Garg (MSIA), Amberish Ratanghayra (MSIA), Jorge Huenufil (MSIA) and Rob Wu (MSIA).
Claudia Alcala (MSIA 99) and Mihcael Alexander Bressler II
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Nana and Takumi Sakagami (MSIA 97) Takumi Sakagami (MSIA) has started a new private equity firm, Ridgeway Capital Partners Limited, with five partners focusing on buy-outs of Japanese and Asian companies. Paul Yeakel (MSIA) recently joined Curtis Financial Group, LLC, a boutique investment banking firm in Philadelphia. He will be focused on traditional I-banking activities and ramping up a real estate financing group within Curtis. Paul and Pilar celebrated the arrival of their third child, Russell, on June 6, 2006. He joins Mae, 8, and Wes, 5.
Sam Chang (MSIA) recently relocated from the Bay area to even sunnier San Diego and is working for Conexant as a director of marketing, focusing in the IP video market. Sam and his wife, Diane Kim, have two daughters, Julia, 4, and Grace, 1. Carlos Eduardo Espinal (BS) is currently working for the venture capital fund of the private equity firm Doughty Hanson in London. Allen Go (BS) moved to New York City to work for Mystic Capital Advisors Group, an investment bank that focuses on the insurance industry, where he is senior associate. Eric Hoffmann (MSIA) has left Sapient and now works for KPMG in London.
Ajay Parkeh (MSIA 98) and wife, Manju and daughters Annika, 2, and Avanti, 5. Jim Tragakis (MSIA) is now the chief of staff for Deloittes Federal Government Services, focusing on operational improvements, and merger and acquisition activity for this fast growing practice.
Patty and Glenn Harbold (MSIA 98)
During the summer of 2005, Kathleen Rai (BS/CIT 90, MSIA) was able to spend some time in Taiwan as she was invited to share U.S. practices with the Taiwanese government, a number of private firms and universities. She was able to get together with fellow classmates Linda Chang (MSIA), Amy Chen (MSIA), Jean Lin (MSIA) and Wanli Wang (MSIA). Kathleen is working from home on an NSF research project and on a start-up that specializes in high-end coating development.
2000
Linda Bliss (MSIA) and her husband, Chris, recently relocated to Massachusetts. She is manager of supply planning and launch projects with EMD Serono, Inc., a GermanSwiss biotech company with U.S. operations in Rockland, Mass. Kathleen Rai (MSIA 99), Linda Chang (MSIA 99), Amy Chen (MSIA 99), Jean Lin (MSIA 99), and Wanli Wang (MSIA 99) Patrick Toole (BS) married Estee Naggar on September 3, 2006. Linda and Jake Witherell (MSIA) welcomed Nathan on December 6, 2006. Nathan is pestered constantly by his two older sisters, Abby and Kailey. John J. Zanardelli (PFE) is the executive director and CEO of United Methodist Services for the Aging/Asbury Heights in Pittsburgh. He has been appointed to work with the Academy of Management, Tepper School of Business and Heinz School of Public Policy and Management on the Evidence-Based Management Collaborative, which is headed by Denise M. Rousseau, Ph.D. Bill Carey (MSIA) and his wife, Staci, are proud to announce the arrival of their son, Liam, on August 16, 2006. He weighed in at 7 lbs. 11 oz. Bill is a director at Capital One Financial Corporation, managing the MIS team that provides reports to their U.S. credit card businesses. Michael Chian (BS) received an MBA from UCLA Anderson. He is now a senior pricing manager at Wind River Systems. Emily Chiu (BS) resides in Los Angeles and is now an assistant vice president at JPMorgan in the global trade group, managing relationships with a focus on corporations on the west coast as well as Asian multinational corporations. Nick (BS/CIT 01) and Elayne Crain (BS) are pleased to announce the arrival of Benjamin Camden Crain, born on September 30, 2006. The family will be relocating to Austin, Texas, this summer so that Nick can pursue his Ph.D. in finance at the University of Texas at Austin, where he has a Harrington Fellowship.
Yaniv Grinstein (MSIA 97, Ph.D.), assistant professor of finance at the Johnson School, is working at 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 in other areas, for the SEC. His current projects at the Johnson School involve an analysis of the effect of the new governance rules in the United States on corporate value, an examination of executive compensation in U.S. corporations and a look at the role of corporate boards in monitoring firms. Yaniv has published in several journals, including the Journal of Finance and the Journal of Financial Economics. His research has been widely cited in major publications such as The Economist, Financial Times, Newsweek, New York Times, Los Angeles Times, Forbes magazine, Time magazine and Washington Post, as well as in Congressional hearings on the new governance rules. He is the recipient of the Best Paper in Corporate Finance Award from the Southwestern Finance Association in 2005 and of the Clifford H. Whitcomb faculty fellowship in 20042005. Rubina (BS) and Jishnu Guha (BS) have moved to New York City, where Jishnu is vice president, equity research compliance with Bank of America. Douglas Jones (BS) started a new job in January 2007 as senior manager, web producer for Quinstreet in San Francisco. Doug and Mimi Pauliana were married on September 30, 2006. Fellow alumni in attendance were Lou Campero (BA/CFA 00), Ben Kartzman (BS/H&SS 00), Sharif Siddiqui (BS 00), Thomas Seier (BS/H&SS 01) and John Petrillo (BS/H&SS 00).
Mimi Pauliana, Lou Campero (BA/CFA 00), Ben Kartzman (BS/H&SS 00), Douglas Jones (BS 00), Sharif Siddiqui (BS 00), Thomas Seier (BS/H&SS 01), John Petrillo (BS/H&SS 01) After 22 years in Pittsburgh, Tomio Inomata (BS/MCS 89, MSIA), his wife, Colette, and their children, Felicia, 9, Carter, 6, and Parker, 3, moved to Atlanta last spring. Tomio is client delivery manager with SBC Systems. SBC Systems is a small software company that develops benefits administration software. One of Daniel Kuhlmans (MSIA) fellow classmates told him that he didnt go to business school to learn how to be in the corporate world but to learn how to run a business. With that in mind, Dan just opened TASTES Wine Bar & Bistro with his wife, Kristel in Denver, Colorado. They are already looking at opening number two this year. Raising their 18-month-old son, Gustave, and running a new venture at the same time is indeed difficult.
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Jason Stone and Jordan Pierce, sons of Jun (Jim) Zhao (MSIA 99) and Sherri Chea (MBA 02) On May 11, 2006, Jason Stone and Jordan Pierce were born to Jun (Jim) Zhao (MSIA) and Sherri Chea (MBA 02). Jim has left Federated Investors New York office and joined Oppenheimer Capital as a vice president/research analyst. He is now covering the cyclical stocks for Oppenheimer Capitals international team.
Ani, Frances and Jose Li (MSIA 00)
Benjamin Camden Crain, son of Nick (BS/CIT 01) and Elayne Crain (BS 00)
This past January, Ani and Jose Li (MSIA) traveled from Memphis to Peru to visit their families and baptize their daughter, Frances Naomi, who is 8 months old now. Ani is marketing
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On October 14, 2006, Alicia Quan (MSIA) married Darryl Brown. Matthew Saalfeld and Anna Reszetucha (BS) were married November 7, 2004, in Miami with Jo Gentle (BS 00), Vikas Sood (BS 00), Kim Martin (BS/MCS 00), Alice Wu (BS/CIT 00, MS/CIT 01) and Geoff Barbanell (BS 01) in attendance. They welcomed their first child, Isabella Maria Saalfeld, on July 11, 2006. She weighed 8 lbs. 10 oz. The Saalfelds reside in Kentucky and are managers at Procter & Gamble in Cincinnati. Nancy Sansom (MSIA) and her husband, Dave, welcomed Noah Benjamin into the world on December 20, 2006. Noahs big brother, Gabriel, 3, was very excited about his arrival. Matthew Snyder (MSIA) earned the CFA Charter in October 2006. Alwin Sulaiman (MSIA) recently transferred to Sun Microsystems office in Hong Kong on a temporary assignment with responsibilities that range from supplier management to helping build Asian Operations. David (MBA) and Jill (MBA 01) Uhryniak, with sons Cal and Owen, are delighted to announce the birth of Sarah Jane on March 21, 2006. Sean and Bretton Barnhill, sons of Pamela (MBA 01) and Shane Barnhill (MBA 03) Michael Bett (BS/MCS 86, MBA) is managing director of the 170-person Pittsburgh Science of Learning Center, a joint center between Carnegie Mellon and University of Pittsburgh. Ajay Dugar (MSEC) recently moved to Los Angeles as product director of ClickStar, Inc. Eric Evans (MBA) has left J&J for a promotion to vice president finance of Tyco Healthcares $1.2 billion pharmaceuticals division. Eric and Marta have relocated to St. Louis. Harrison Flakker (MSIA) raised capital and launched LegalScience, a software development company offering a wide range of e-discovery, litigation support and consulting services to law firms and corporate clients. Premised on the idea that the delivery of legal services can be quantified and improved, LegalSciences business and technology solution permits attorneys and clients to measure and gauge the effectiveness of their litigation process.
manager for Autozone, and Jose is principal retail and eCommerce for FedEx. They have also started an import/export company that leverages Asia/China sourcing and sells/ markets products to U.S. and Latin American markets. Ian Lomax (MSIA) and his wife, Kim, were thrilled to welcome Vivian Jayne Lomax into the world on March 14. Weighing in at 7 lbs. 15 oz. and measuring 21 inches long, shes skinny and beautiful. Kim and Ian have relocated back from Germany to Portland, Ore., and he is still in marketing with HP. Jennifer Jo Kaniecki MacNeil (MSEC) was married on November 11, 2006 to Dr. Joseph H. MacNeil in Pittsburgh. Jennifer is a project engineer for Bechtel Plant Machinery, Inc. in Monroeville, Pa. Steve Novak (MSIA) and his wife, Linda, are happy to announce the birth of their son, Logan Anthony, on September 19, 2006 (which is also Steves birthday). Logan weighed in at a Texas-sized 9 lbs. 6 oz., and was 21 inches long at birth. The Novaks are doing well in Dallas, where Steve is a business planning manager at Texas Instruments.
2001
Pamela (MBA) and Shane Barnhill (MBA 03) welcomed their second son, Sean, on January 8. He joins his proud big brother, Bretton, 4. Pam is vice president of InnSuites Hotels, and Shane was recently promoted to IT Manager at Honeywell.
Khang Hiu (MSIA) and his brother started a business and IT consulting company, HTS Infosys, Inc. where Khang is co-owner and president. Reena Kaushik (MSIA 01) recently joined ProSource Strategy Consulting Company as a managing partner in New York. ProSource is a strategy consulting firm that is focused on helping clients across the globe improve operations and grow their businesses by leveraging their network of global service providers. By providing a combination of strategic consulting services and hands-on execution support, they help their clients exceed their business objectives. ProSource works directly with their client decision-makers to develop and implement business strategies that transform organizations leveraging global competencies of service providers across international geographies. Ann Tongwarin Koerner (MBA) and her husband, Rick, recently relocated to Denver, Colo., and love it. They have two children, Jenna, 3, and Caden, 1. Ann transferred from AOL to MapQuest and is a director of program management. Mark Kim (MSEC) was promoted to manager in the Samsung Corporation, Korea. Joey Rahimi (BS), founder of CollegeProwler.com, was featured in the New York Times, the Washington Post, the Los Angeles Times and the San Francisco Chronicle, and in Readers Digest and on CNN. The company has purchased and rehabilitated six properties in the Pittsburgh area. Alex Saunders (BS) has been living in Sydney, Australia, for the last two years and recently took on a new role as a project manager at Deloitte Australia.
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Logan Anthony Novak, son of Steve Novak (MSIA 00)
Jill (MBA) and David Uhryniak (MBA 00), along with sons Cal and Owen, are delighted to announce the birth of Sarah Jane, on March 21, 2006. Shirley Wang (MBA) has left HP and is now working at Symantec as principal financial analyst supporting the global channel office. Shirley, her husband, Jonathan Shen, and daughter, Katherine, 2, live in California.
On May 11, 2006, Jason Stone and Jordan Pierce were born to Sherri Chea (MBA) and Jun (Jim) Zhao (MSIA 99). Jim has left Federated Investors New York office and joined Oppenheimer Capital as a vice president/research analyst. He is now covering the cyclical stocks for Oppenheimer Capitals international team. David Eidsaune (PFE) is a commander at Eglin Air Force Base in Florida. John Gledhill (MBA) has moved back to his native area, Massachusetts, and has joined NorthCoast Partners, a mergers and acquisitions advisory firm. John helps privately held companies in the lower middle market sales of about $2 to $25 million to successfully transfer their business ownership. Neena Ellen Kayande was born August 18, 2006, to proud parents Samir (MBA) and J.J. (MBA) Kayande. Peter Lee (MBA) married Ji Yeon Park last fall. Peter is currently a marketing manager with Philips Medical Systems, and the couple is currently residing in San Francisco. Chad Luce (MBA) received a promotion in November 2006, becoming the regional finance manager for Pepsi Bottling Group Northern New England. In September 2006, Felix Malpartida (MBA) moved from Geneva to London. He has left P&G after eight years to join AllianceBernstein, an asset management firm, as buy-side research analyst, focused on telecommunications companies in Europe, Asia and Latin America. Ashwin Mehta (MSCF) is currently working with Ambit Capital, a brokerage house in Mumbai, India, in the area of equity research, tracking IT and real estate sector stocks. Paul Minor (MBA) and his wife, Joy, live in Raleigh, N.C. He recently accepted a position as a senior business analyst with Fidelity Investments in Durham. Camilo Muoz (MBA 02) and his bride, Luisa Lozano Camilo Muoz (MBA) married Luisa Lozano in March 2006, and they reside in Bogota, Colombia. He continues working at McKinsey & Co., Andean Pact, and was recently promoted from engagement manager to associate principal. Paul Nguyen (BS) was awarded the inaugural Federal Computer Week Rising Star Award for his development of an information security metrics program as the chief information security officer for the Federal Court Services and Offender Supervision Agency. James Moore (MBA) and his wife, Gong Yanlin, welcomed Tianna Lin Moore on June 12, 2006. James is the director, supply chain for Performance Motorsports Inc. in Mentor, Ohio. Kaori Negoro (MBA) joined Mozilla Japan last July. Mozilla provides opensource products such as Firefox and Thunderbird. Debi and Allen Reihman (MBA) adopted their son, Mateo Allen Diaz Reihman, in November 2004, and then added Sofia Clare Paau Reihman in December 2006. Both children are from Guatemala. After stints in corporate development and division finance, Allen got his P&L two years ago at Eastman Chemical Company. A recent promotion landed him with global business management responsibility for a $150 million adhesives business.
Andreas Rindler (MSIM) joined the financial services practice of BearingPoint UK as a senior consultant. His responsibilities are focused on business process management and enterprise content management, but also include systems integration and strategy consulting. Rick Yoon (MBA) has moved to Johannesburg in South Africa as a new OA/IT director for Samsung South Africa.
2002
5-year Class Reunion Oct. 26 27, 2007 Sergey Arefiev (MBA) left Deutsche Bank and has joined Citigroup as a director in the rates structuring group. David Betts (MBA) was recently promoted to manager in Strategy & Operations, Healthcare with Deloitte Consulting, LLP. On April 15, David completed the 140.6 miles of the Ford Ironman Arizona triathlon in Tempe, Ariz. His first competition since taking up for the sport in 2004 proved to be a challenge. However, Dan says that Tepper helped to teach him how to focus on solving problems, and the competition was essentially three very long and difficult problems strung end to end that required significant focus and determination to solve.
2003
Shane (MBA) and Pamela Barnhill (MBA 01) welcomed their second son, Sean, on January 8. He joins his proud big brother, Bretton, 4. Pam is vice president of InnSuites Hotels, and Shane was recently promoted to IT Manager at Honeywell. Stephen Bassett (MBA) recently relocated to San Diego to build a business in the biotechnology sector and enjoy the beautiful weather.
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Olivia Izabella Carleton, daughter of Kent Carleton (MBA 03) Nicole and Kent Carleton (MBA) welcomed Olivia Izabella on December 18, 2006. Kent is a business manager at PPG Industries in Pittsburgh. Andrew Johnson (BS) joined Carnegie Mellon spin-off SureLogic, which incorporated in spring 2006, and works in marketing and communications. While the company is based in Pittsburgh, Andrew recently moved to San Francisco, where he works from his home.
David Betts (MBA 02) crosses the finish line
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Neil Walter (MBA) and his family wife, Michelle, and daughters Grace and Emma moved to St. George, Utah, in 2005 to help out with a family business. They are enjoying the benefits of small-town life, including horseback riding, a little farming and spending time with family. This past summer, Neil became a CFA Charterholder. Vivien Xiong (MBA) and her husband, Harry Mei, launched a start-up venture, Advanced Energy and Environmental Technology, LLC, which will require moving back to China. Vivien and Harry are enjoying 2-year-old Micah. Angela and Clovis Young (MBA) moved to Sydney in December 2006 to start a Mexican restaurant-taqueria concept. They hope to have their first location open by September and, with some luck, will be ready to roll out additional locations soon thereafter. Sydney is a great city, and they would love to see some Tepper faces down under. Tyrone and Michelle Chang (MBA 04) Their video is currently airing on all music channels in India, including MTV, Channel V and Zee Music. Michelle Ng Chang (MBA) was married to Tyrone Chang on April 16, 2005 in New York. She is the product manager for Norton AntiVirus at Symantec. Nicholas Gammell (BS) has taken a new job and is now a financial analyst, marketing and product management with Google, Inc. in Mountain View, Calif. Anindya Ghose (MSIA 02, Ph.D.) is an assistant professor at the Stern School of Business, New York University. He was recently awarded the prestigious NSF CAREER award from the National Science Foundation, which is a $500,000 grant. The Faculty Early Career Development Program (CAREER) is a highly competitive, foundation-wide activity that offers the NSFs most prestigious awards for new faculty members. The CAREER program recognizes outstanding scientists and engineers who, early in their careers, show exceptional potential for leadership at the frontiers of knowledge and are most likely to become the academic leaders of the 21st century. Yuko Horiuchi (MBA) has switched her job from structured credit to real estate finance in Nikko Citigroup. She is providing finance to equity investors for their property acquisitions. Compared to the U.S. and European markets, the real estate and CMBS market in Japan has not yet matured, but it provides higher yield and attracts foreign money. Given that situation, she is very excited to work in this area. Patrick Hung (MBA) and his father started a business supplying the needs of discount retail stores in the San Francisco Bay Area. In his spare time, he has undertaken the ground-up restoration of a 1963 Alfa Romeo Spider. It took him a year to tear everything down; itll be another two years before it will be ready for the road. Palak Jain (MBA) recently started boutique merchant bank, Clear Trade, located in India and New York. He has been splitting his time between India and the United States. Helen Wei and Danny Li (MBA) were married in May 2006 in southern California. Danny has been promoted to vice president of financial analysis at Countrywide.
Lloyd Foster (MSIA) joined AIG on March 1 as vice president and actuary, risk finance. He also had his novel, Identical Mistakes, published. Last summer, Peter Johnson (MBA) took a position in Microsofts entertainment division to help develop the strategy for bringing the Zune media player to market. Since his time at Tepper taught him that you can never be too busy, he and his wife are building a house in Seattle as well. Todd Justman (MBA) was recently promoted to vice president, senior eCommerce product consultant at Bank of America. He manages the development of identity and credit decision capabilities for the account opening process on BankofAmerica.com. Mukund Kumar (MSCF) recently moved to Orange County, California, to join PIMCO as a senior developer/financial engineer.
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After graduating, David Lee (BS, MS/Heinz 04) moved to Washington, D.C., to work for the federal government. He initially joined OMB and then went on to the Department of Commerce, working on international trade promotion and export control issues. After two years, he returned to OMB and now works on homeland security issues as a program examiner. Sophia Elizabeth Marks was born on June 9, 2006, to Tanya Sander-Marks (MBA) and Brian Marks. Idan (MBA) and Eynat Mor (MBA) are pleased to announce the arrival of Omri Mor, born on December 24, 2006. Omri joins big sister Maya, 4, at home. Idan has joined Evergreen Venture partners, one of the leading venture capital firms in Israel, as an investment manager dealing with communications early-stage ventures. Smitha Murthy (MBA) and Achuth Rao (MBA) were blessed with a second baby boy, Ishir, on December 9, 2006. He joins his big brother, Mihir.
2004
Ankur Bhasin (BS 04) After graduation, Ankur Bhasin (BS) started an animation studio and works predominantly for the German market, producing cartoon series to teach children how to play soccer. On April 11, musical duo Dhunn, of which he is half, launched an album in Mumbai. They were featured in the April issue of Generation Y magazine and were in Rave magazine as well.
Rebekah and Doug Dent (MBA) are pleased to announce the birth of their third child, John Moses Dent. Jack was born in Frisco, Texas, on January 24. Jacks older siblings, Abraham, 6, and Anna, 4, are very happy to have him around. Sandy and Patricio Gamboa (MBA) report that life in Chicago is great. Regina is almost 3 years old, and Dario is 1. Patricio is now finance manager within Sara Lee. David Harel (MBA) reports that his fund, Reticle Partners, completed its acquisition and are now the proud owners of Columbia Northwest, a leader in lightweight RV manufacturing. Greg Gonzalez (MBA) and Jeff Holden (MBA) traveled to Dubai to visit Barkha Ohri (MBA). On the way there, they stopped in Dublin and saw Hugo Losada (MBA), his wife, Cecilia, and bouncing baby boy, Diego. On the way back, they met with Vivek Acharya (MBA) in London. Byongsu Christopher Kim (MBA) has recently been promoted to the position of director, business planning and operations with Novartis Pharmaceuticals in Cambridge, Mass. Lisa and Jason Lambert (MBA) were blessed with the birth of their son, Jason William, Jr., on August 9, 2006. They live in Connecticut, where Jason is a manager in Deloitte Consultings strategy and operations practice. In June of 2006, Hugo Losada (MBA) and his wife, Cecilia, moved to Dublin, Ireland, where he is strategic planning manager for Cemex. On October 13, 2006, their son, Diego, was born. David Schiffer (BS) switched jobs in mid-March to the Situs Companies, where he is an Analyst II, specializing in the underwriting due diligence of CMBS loans. John Jack Moses Dent, son of Doug Dent (MBA 05)
Gregory Shumavon (MBA 05) with twin girls Katelyn and Alexandra Gregory Shumavon (MBA) and his wife, Tricia L. Shumavon, welcomed twin girls Katelyn and Alexandra on July 18, 2006. Srinivas Suri (MBA) and Tricia Robinson (MBA 07) were married on February 21 and live in Danbury, Conn. Srinivas received a promotion at IBM to financial analyst of storage systems, and Tricia was promoted to director of service, northeast at GE Healthcare. Radha and Kamesh Varadarajan (MBA) were blessed with a beautiful baby daughter on November 3, 2006, whom they named Vandana, which means worship in Sanskrit. Kamesh is still with Avaya and works as operations finance manager for the IT organization. Ryan Will (MBA) and his wife, Kelley, were blessed by the birth of Kaylin Ann on February 3, 2007. The family lives in Pittsburgh, where Ryan is a relationship manager with PNC Real Estate Finance. Chris Xia (MBA) married Alice Aili on December 30, 2006, and the couple lives in Hartford, Conn. Chris is a senior manager with IBM Business Consulting Services.
Fred Chang (MBA 04), Steve Cheung (MBA 04), Min Cheung, Sehan Bong, Wanda Yu (MBA 04), Helen Wei, Danny Li (MBA 04), Jason Judd (MBA 04), Amy Judd, Hanwook Kim (MBA 04), and Lisa Tsui (MBA 04) Patrick Rutherford (MBA) relocated to Atlanta with Home Depot after more than two years of moving around with Black & Decker. Priya Shenoy (MBA) has moved from financial services to consumer packaged goods, now working for Playtex Products. Priya married Rohit Prabhu in June 2006. Heather Yin (MBA) relocated from Chicago to the New York City area in July 2006 and is working for Prudential Investment Managements fixed income group. Anthony Ventura (MBA) is the vice president at Source Capital, Ltd. in Pittsburgh. Qian Wang (MBA) was promoted to Finance Director of Asia-Pacific region by Goodyear. She will move to Shanghai headquarters in 2007.
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2005
James Barlow (MBA) recently moved to Philadelphia to begin a market research rotation at Mercks U.S. human health headquarters. This is his second rotation in Mercks marketing leadership program. Christine Tang (MBA 04) and Kevin Wilson (MBA 04)
Christine Tang (MBA) and Kevin Wilson (MBA) tied the knot in Newport Beach Harbor aboard the Destiny on September 3, 2006. Fellow Tepper alumni in attendance included Dan Green (MBA 04), Siqi Tan (MBA 04) and Yan Yan Zheng (MBA 05). Christine is a manager with Diamond, and Kevin is a senior consultant with CGI.
Grace Hwang (BS 05), Misty Muscatel (BS 05), Laura Graf (BS 05) and Kavita Shah (BS 05)
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Neil Sanyal (BS) is a financial analyst for Goldman Sachs, covering the brokers in global investment and research. He also recently purchased a home in Jersey City, N.J. On August 5, 2006, Thomas Scherr (MBA) and Alia Huggins were married in Morgantown, W.V., with many of their friends from the class of 2006 in attendance. Thomas is a high yield bond analyst for Federated Investors in Pittsburgh. Upon graduation from Tepper, Peter Sukits (BS) was commissioned a second lieutenant in the Army. He completed basic field artillery officer training and airborne (parachutist) school and is currently a fire direction officer in the 18th Airborne Field Artillery Brigade at Fort Bragg, N.C. Tricia Robinson (MBA) and Srinivas Suri (MBA 05) were married on February 21 and live in Danbury, Conn. Srinivas received a promotion at IBM to financial analyst of storage systems, and Tricia was promoted to director of service, northeast at GE Healthcare.
In March, Grace Hwang (BS), Misty Muscatel (BS), Laura Graf (BS) and Kavita Shah (BS) took a vacation to the Bahamas for several days. It was a great time to hang out and spend time on the beach! Misty, Kavita and Grace are in New York City, and Laura still lives in Pittsburgh. Misty works at Google, Laura works at Alcoa, Kavita works at Lehman Brothers and Grace works at Barclays Capital.
2006
Carolina Carvalho (BS) is working at Deutsche Bank in the global prime finance equity sales division in New York City. Pradeep Kanwar (MBA) and Dr. Himabha Verma were married on December 12, 2006. Pradeep is an associate in credit training at JPMorgan Securities Japan Co., Ltd. They live in Tokyo and are enjoying getting to know the country together.
Tricia Robinson (MBA 07) and Srinivas Suri (MBA 05)
Student-Alumni golf outing winning team Josh Beck (MSIA 07), Christian Wuerth (MSIA 07), Dan Wyse (MSIA 07) and Nathan Succop (MSIA 07)
In Memoriam
Isabelle Frommann (MSEC 01) passed away on April 10, 2007, from a metastasized malignant melanoma. She was an active leader of the Tepper London Alumni Chapter who coordinated alumni events and kept connected with other business schools in London. Jim Schornhorst (MSIA 97) passed away on September 28, 2006, in a car accident in Michigan. Jeffrey R. Sanders (MSIA 78) passed away on March 23, 2006.
2007
Daylian Cain (MBA 03, Ph.D.) successfully defended his dissertation and accepted a tenure-track position at Yale University. He teaches negotiations and designed a course, Leadership and Values, at the Yale School of Management.
42
New in Lifelong Learning

The Speaker Presentations section offers: The 2007 Tepper Graduate Diploma Ceremony with guest speaker, James Rohr, Chairman and Chief Executive Officer of PNC Financial Services. Ken Keeley, Executive Director of the Career Opportunities Center, moderating an alumni panel for Welcome Weekend 2007. Alumni panelists: Angela Blanton (MSIA 99), Jim Mavros (MBA 01), Peter Mwanza (MBA 01), James Ostry (MSIA 94) and Connie Wendzicki (MSIA 91). William Pounds (BS/CIT 50, MSIA 59, Ph.D. 64), Dean/Professor Emeritus of MITs Sloan School of Management discussing Corporate Governance. In Faculty Research, read The Monetary Policy Debate Since October 1979: Lessons for Theory and Practice by Marvin Goodfriend, Professor of Economics. Watch the video interview of Don Moore, Associate Professor of Marketing, discussing conflicts of interest, negative consequences associated with conflicts and offering options, and incentives that practitioners can make to reduce them. These videos and more can be accessed in Expert Commentary.
www.tepper.cmu.edu/lifelonglearning
Your philanthropic support has a transformational impact on the Tepper School.

As a venture capitalist who has managed more than 30 private deals throughout his career, John Levinson knows a good investment when he sees it. Understanding the importance of good returns, exceptional leadership teams and market growth, he transforms raw potential into reality both as a private investor and as a philanthropist. Its this belief in giving back that links John to the Tepper Schools W.L. Mellon Society. Membership starts at $1,000 and includes participation in a global alumni relations network that annually pledges its support to student scholarships, faculty research and facility renovations. Your gift creates a lasting impact by building upon the decades of support that have fueled the Tepper Schools reputation for excellence. Giving is not only an expression of support for an academic experience that contributed to your career success its also easy to do! Simply return the enclosed envelope or visit www.tepper.cmu.edu/give to make your gift via our secure web site.
Generosity has its rewards. My family and I have found that we receive just as much back in
personal fulfillment
when we support relevant philanthropic causes.
Making an impact
John Levinson (MBA 80)

Early-stage investor in tech companies Founder, Cannupa Foundation Husband and father of two Competitive sailor and avid skier Music enthusiast Member, W.L. Mellon Society
Additional information about the W.L. Mellon Society can be found at www.tepper.cmu.edu/mellonsociety.
www.tepper.cmu.edu
DM/CB 10/07 23M/FI
Tepper School of Business William Larimer Mellon, Founder Office of Advancement Carnegie Mellon University 5000 Forbes Avenue Pittsburgh, PA 15213-3890
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Tep Fallmagazine

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TEPPER School of Business

INSIDE Industry, Energy, Conservation Merge In Pig Power Business Plan

For more information or to register for any alumni event, go to www.tepper.cmu.edu/alumni/events.

TEPPER School of Business

Follow The Leader:

Business Wire Network

Industry, Energy, Conservation Merge In Pig Power Business Plan

TEPPER School of Business

Dunn Reappointed Dean Of Tepper School

University committees highlights of Dean Dunns first five years

NEWS FROM THE TEPPER SCHOOL OF BUSINESS

Academy Recognizes OB Faculty Research Impact

Change Research Receives Award

Sridhar Tayur, professor of operations management and founder of SmartOps.

Professor Honored For Commercializing New Technology

NEWS FROM THE TEPPER SCHOOL OF BUSINESS

Charles Evans Named President Of Chicago Fed

MBA Student Wins Global Leadership Award

Williamson Named American Economic Association Distinguished Fellow

TEPPER School of Business

Recent Faculty Awards

Tepper School Honors Former AMC Exec

NEWS FROM THE TEPPER SCHOOL OF BUSINESS

Tepper School Begins Entrepreneurship Certificate Program In Qatar

Tepper Undergrads Win Business Plan Competition

Team From Tepper School Wins Regional SIFE Competition

SAVE THE DATE

FOR ALUMNI REUNION WEEKEND

TEPPER School of Business

UPSTART EMPLOYEES DRIVE CORPORATE INNOVATION

continued from page 9

The Intrapreneurs Ten Commandments

5. Do any job needed to make your dream work,

6. Remember that it is easier to ask for forgiveness

7. Keep the best interests of the company and its customers

10. Honor and educate your sponsors.

TEPPER School of Business

continued from page 11

TEPPER School of Business

Globalization And The Pace Of Change: Setting The Right Mindset

TEPPER School of Business

ALIX BOWMAN, MBA 07

TEPPER School of Business

TEPPER School of Business

PIG POWER by the numbers

Basics of the pig-waste-to-power cycle

3. Environmental Livestock Solutions trucks transport full sludge

4. The sludge is loaded into tanks where anaerobic bacteria

5. The methane is piped into a generator connected to the

follow the leader I

PUSH YOUR ENVELOPE TO GROW A SUCCESSFUL CAREER

TEPPER School of Business

ARTHUR BONI, Ph.D.

Convention Is A Career Killer

TEPPER School of Business

Globetrotting students take their business education overseas

TEPPER School of Business

John McClain MBA 07

Joseph Akpan MBA 08

Erren Lester MBA 08

MAKING NEWS AROUND THE WORLD

Innovations Report / Professor joins Norges Bank Watch

The Economist / Checklist helps students evaluate