Fall 2003 - Page Two

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 Charlie Munger Charms, Challenges Albers Students

In April, Charlie Munger, Vice-Chairman of Berkshire Hathaway and longtime collaborator of investment guru Warren Buffet, visited Seattle University and spoke before a packed Pigott Auditorium of students, faculty, and alumni.

“There is a lot to be proud of about Catholic education,” said Munger at the beginning of his talk. “The Jesuit schools in particular should be praised for their passion for education.”

Munger came prepared, shipping volumes of Berkshire Hathaway’s Annual Reports and cases of his own carefully selected speeches, lectures, and correspondence beforehand for the benefit of his audience. This particular evening, Munger tackled the issue of ethics and corporate scandal. 

“There is just an incredible amount of corporate scandal in the world....To have the accountants turn south on us is like having the engineers go bad.”

“A lot of it was envy,” Munger said of accountants. “Other people were making all this money and they couldn’t stand not to participate. Just one small step at a time, they broke down the standards.” 

Munger’s was just one of an impressive string of speakers who visited the Albers School last year.

Albers Hosts International Management Conference

Albers hosted the 63rd annual Academy of Management (AOM) conference in August at the Washington State Convention and Trade Center. Themed “Democracy in a Knowledge Economy,” the conference included hundreds of breakout sessions covering 22 subjects, from corporate responsibility and ethics, to organizational behavior and research methods. A minimum of 6000 management educators, academics, and business professionals from 50 countries are expected to attend.

“To host a conference of this size and caliber is a big win for SU. I believe we were chosen to host because we’re seen as an institution of scholarship and service and that balance is valued by AOM,” said Barbara Parker, professor of management and AOM local program chair.

The distinguished speaker was famed whistleblower Sherron Watkins, former vice president of accounting at Enron. Watkins received AOM’s 2003 Distinguished Executive Award for discovering a several million dollar accounting discrepancy and advocating for an immediate change in accounting procedures. 

AOM’s program highlights included a cocktail reception and local “Chinese Lion Dancers” from the International District to entertain participants, and “The Fringe Café”, a place where attendees can exchange ideas and connect beyond break out sessions.

A key part of the conference was sharing a service learning initiative that benefited Northwest Harvest. Wells Fargo and Deloitte and Touche sponsored food drives in their offices and many AOM attendees brought non-perishable food items to donate to the food bank. Together the attendees sorted and bagged food items for Northwest Harvest clients. Afterwards a formal session addressed how community service in the work place affects broader corporate and social responsibility.

Kerry Killinger, Washington Mutual’s CEO spoke with students, faculty and alums

Kerry Killinger, Chairman, President and CEO of Washington Mutual, visited campus in May to speak to Albers students, faculty and alumni. Under his leadership, WaMu has grown into the nation’s 7th largest financial services company, with over $275 billion in assets and an employee base of over 50,000 people. In 2001, American Banker magazine named Killinger its “Banker of the Year.” WaMu is part of an exclusive group of companies recognized by Fortune magazine in three areas: “Best to Work For,” “Best for Minorities” and “Most Admired.” 

In a wide ranging talk, Killinger addressed the importance of business ethics and recent lapses in corporate conduct. He discussed WaMu’s history of acquisitions, commenting on the difficulty of blending different corporate cultures. Killinger also explained his philosophy on leadership, before entertaining the crowd with several humorous TV commercials WaMu planned to run in its new markets.

Alumni Alumni Feature

Michelle Burris

Albers Alum Michelle Burris is the CFO of Corixa, a Seattle biotech company in the process of developing drugs that combat autoimmune diseases, cancer and infectious diseases. As the company works to bring Bexxar - a drug that has shown the ability to slow the progression of non-Hodgkin’s lymphoma in some patients - to market, her days are hectic, her challenges are diverse, and she wouldn’t have it any other way.

“I enjoy what I do,” says Burris, “I get the privilege of working with people who have dedicated their lives to helping others.”

Burris herself is playing an important part in preparing Corixa for the future. Under her financial guidance, Corixa has become one of  the most cash-rich biotechs in the Northwest, according to a report in The Seattle Times. Such cash reserves often prove vital in the biotech industry due to the enormous development costs companies face before a product ever hits the shelves. 

Born in Georgia and raised in Washington, D.C., Burris attended George Mason University and received a B.S. degree in business, specializing in statistics and marketing. She switched to night courses her final two years of undergraduate studies in order to better balance a full-time job.

Initially working for a defense marketing firm in the D.C. area, her experience and education would eventually lead Burris to the Northwest and to Boeing, where she became one of the youngest people ever to be on the company’s senior management track. 

Burris had always planned on continuing her education and, while at Boeing, Burris obtained her MBA degree at the Albers School in 1991, choosing the school in part for its private Jesuit setting that had drawn her initially to Georgetown where she had initiated her graduate studies. A strong believer in education being a life-long endeavor, Burris later returned to the Albers School to bolster her education with a Certificate of Post-MBA studies that concentrated on accounting. 

In 1994, Burris joined a then-small staff of six at Corixa to serve in a controller capacity for the company. As the company grew, so did Burris’ responsibilities and titles. 

Whether guiding an initial public offering for the company, overseeing company acquisitions, or raising cash for Corixa amidst a daunting economic downturn, Burris has shown an amazing aptitude for turning adversity into an advantage. 

“I don’t view obstacles as obstacles,” says Burris, “I view them as opportunities.”

While her work ethic and determination are her own personal traits, Burris credits her education at Albers for helping her prepare for the challenges she would face in the workplace.

“The teachers were excellent at taking the textbook material and applying it to the real world. The key was the application, not just the knowledge.” 

Of course, Burris’ fondest memories of the Albers School are not all due to her education experience; she also met her future husband, Mike, while attending the school’s MBA program. 

In addition to work and raising her son and daughter with her husband, Burris also dedicates time to the Albers Dean’s Executive Advisory Board, a group that serves to help review Albers curriculum decisions as well as serve as a liaison to the business community.

Notes Burris, “I believe the business world has an obligation to both the educators as well as the students to remain involved in the learning process.” 

Burris, a self-proclaimed workaholic, does not think there is an intuitive set of solutions or guidelines that can help the busy professional balance family and work time.

“I could work 100 hours a week and there would still be more work. The job never stops. It’s an active choice that, when in the moment, to be dedicated to your family. Work will always 
be there.”

Editor’s Note: Michelle was a recipient of the 2003 Northwest Entrepreneurial Achievement Award in May from the Northwest Forum for Women Entrepreneurs.

Microsoft CFO Visits Albers

John Conners, CFO of Microsoft, spoke to a large Albers audience last March as a part of the Albers school executive speaker program. 

The open and candid speaker held little back on the evening’s topic of corporate ethics from a CFO’s perspective. He launched his discussion by condemning recent corporate scandals as “a debacle; an unmitigated disaster where things stand today in respect to the most important thing in capital markets and that is trust.”

Conners then outlined how even Microsoft struggled with Wall Street and the dot.com-fueled stock expectations in the late ‘90s, recognizing a financially tough but important decision to honestly address the unbalanced market conditions. 

“We just had to get off that treadmill,” said Conners.

Connors credits the increased corporate scrutiny and government regulations from the fall-out of the scandals as “a worthwhile price companies must pay to rebuild consumer trust.”

Finally, Conners ended the evening by discussing ways in which Albers students can make a difference in the marketplace and help continue to lay the groundwork for a successful market recovery.

Speakers scheduled to speak this Fall are Michael Phillips, Chairman and CEO of the Frank Russell Company (Tuesday, November 18th) and Gary Brinson (Monday, October 13th). Details at www.seattleu.edu/asbe 

Albers Students Help Extend SU Trade, Jesuit Identity to Nicaragua

Last winter, Barbra Parker asked her International Management class (MGMT 486) to find out if the SU Bookstore should purchase artisan goods from Nicaragua via the University of Central America (UCA), our sister Jesuit institution. Attempting to help improve economic well-being in the third poorest nation in the Hemisphere, UCA has been funding local artisans in Nicaraguan in hopes of creating long-term supply relationships with international buyers.

The students completed a feasibility study that incorporated five teams accomplishing several levels of analysis, including surveying the interest of bookstore customers and examining the logistics and costs of shipping the goods to the U.S.

The end result was a convincing report that encouraged Bob Spencer, SU Bookstore manager, to place a test order with UCA. As of today, the bookstore’s supply is nearly exhausted and Spencer is placing a substantial second order to stock the shelves this fall and for the holiday season. 

“The product itself had to stand on its own,” said Spencer in a recent interview. “If these products weren’t sellable or would arrive crushed, this relationship would not be able to exist.”

Describing the craftsmanship of the handbags, wood boxes, and other goods as “bordering on elegant”, Spencer notes, “the products alone are great, but the story of how and why we are carrying these goods adds value by positively extending our Jesuit identity.”

Albers School Launches Summer Business Institute

For four days, 18 local high school minority students studied and lived at Seattle University as part of Albers’ inaugural Summer Business Institute (SBI), held June 23-26. Students stayed in Campion Hall and attended a variety of classes on various business disciplines and also attended workshops on financial aid and the admissions process.

The students also spent a day at Costco headquarters, lunching with senior executives and talking with them about the skills they need to become successful job candidates. 

Planned for over a year, SBI was designed to introduce African American, Hispanic and Native American students to university life and provide an overview of business degree programs. Albers partnered with Gary Thomas, instructor of business and marketing at Garfield High School, to coordinate the SBI program and help identify a good mix of students who have the necessary grades and coursework to attend college. 

Crab Feed a Success; Alumni Board Tees Off New Golf Tournament

Following up last spring’s successful Crab Feed, the Albers Alumni Board asked alums to hit the greens in the name of networking this fall with the First Annual Albers Alumni Golf Tournament.

The Alumni Board’s first event was run in conjunction with the Seattle University’s Alumni Association, brought together over 275 Alumni and family members to enjoy the newly-built Student Center as well as share in the food and fun.

One of the many pleased people who attended wrote the following comment: ”We loved reconnecting with old friends and seeing the new student union. Wow! What a view!”

Marsha Tellesbo, Albers Alumni Board Chairperson, said, “All the positive feedback we continue to receive from attendees about the event is encouraging and we look forward to building upon the crab feed’s success”. 

In addition to a second crab feed that is already planned for Saturday, February 7, the Alumni Board created an enjoyable golfing experience for fellow alums and current Albers students.

This year’s theme for the tournament was “Golf with a Seattle Business Leader.” Golfers who attended the event were matched with notable business leaders invited by Seattle University. 

The tournament was held at Druids Glen Golf Club in Kent, Washington. Plans for the next Albers Alumni Golf Tournament are in the works.

Venture Plan Winners Place New Twist on Service

The 2003 SU New Venture Plan Competition results are in. The $1,000 Graduate Track award went to Kelly Ojala’s plan for Hauterra Software; the $1,000 Triple Bottom Line award went to Paula Munson’s plan for P. Munson and Company; and this year’s grand prize was awarded to Krista Loercher and Pam Kleweno for their Medusa project.

For Loercher and Klewno, two Albers MBA students, the venture plan competition was a chance to hone the skills they know they will need as future entrepreneurs.

“We saw this as an invaluable experience that students at other colleges do not get,” said Kleweno, who met and became friends with Loercher via class projects and non-profit work.

Loercher and Kleweno’s winning plan was for Medusa, a salon designed to cater specifically to women with curly hair. Despite running up against some initial opposition to their idea from people in the hair salon industry, the two ran an extensive amount of market analysis and financial analysis, including completing their first focus groups and survey studies to ensure the feasibility of their idea. What they found made them confident that their idea would be a hit.

“You truly can’t do enough for a successful plan,” said Kleweno. 

“The most challenging part of developing a plan is drilling down to what the need was and then articulating the need in a way worthy of a business plan,” added Loercher. “This was a great way to take all of the information we’ve gained from our MBA strategy courses and apply it.” 

While there are no current plans to open a Medusa salon, the duo call the experience “a great start” and are looking forward to entering the competition once again next year.

Loercher said, “We definitely want to do it again. Now that we know how we work together, we want to see how far we can go next time.”

Albers announces new Gleed Chair: Dr. Colette Frayne 

Dr. Colette Frayne, professor at California Polytechnic University, will be joining Albers as the Thomas F. Gleed Chair of Business Administration this fall. Dr. Frayne teaches in the areas of international business management and international human resource management and has earned numerous teaching awards. 

“Dr. Frayne will be a great asset for the Albers School and assist us in strengthening our ties with the business community,” said Albers Dean Joe Phillips. “We are very fortunate to be able to attract a teacher-scholar of her caliber.” 

Dr. Frayne is a highly respected scholar whose research has been published in such notable journals as the Journal of Applied Psychology, the Academy of Management Journal, and the Journal of International Management. 

The Gleed Chair was established in 1980 in order to bring a distinguished business educator with a strong record of scholarly research and publication to Albers for a two-year period. The Gleed Chair is named after Thomas F. Gleed, a prominent Seattle businessman and longtime friend and contributor to Seattle University.

MBA class puts down pencil, picks up hammer

Greg Magnan’s MBA project management class put their textbook knowledge to work by renovating the Central District home of an elderly man. Magnan, an associate professor in the Albers School, requires graduate students in his Operations 576 course to take on a house rebuilding project to utilize their project management skills while making a difference in the community.

“The success of this two-day project was based on the student’s collaboration. Not only did they have to work together and raise funds, they had to accomplish a significant task in two days, in the rain.” said Magnan. Leading up to the project, students created a timeline, developed contingency plans, forecasted total project cost and analyzed project risk. 

Forty-three students participated in the project. While one student team was designated the project leaders, the remaining students broke into teams and managed specific repairs, including, window installation, flooring and interior painting. Students researched their individual team assignment and were accountable for each repair made. 

“It was gratifying to see them work together, apply principles from class and make the project a success. The bonus is an 82 year old gentlemen’s home is safer and more comfortable because of the work,” explained Magnan.

The rebuilding project is done in partnership with Rebuilding Together Seattle (RTS), a non-profit organization that does home improvement projects for elderly and disadvantaged homeowners. Since 1997, SU students and alumni have repaired seven homes in conjunction with RTS. 

The class raised $6000 to pay for materials, equipment, outside professional contractor, and food. Students donated the remaining $3000 to RTS, which with the additional in kind donations they receive will repair 3-6 homes in the next year.

Softball Stars Shine On and Off the Field: Albers Students Achieve Academic, Athletic Honors

Ericka Briggs	Krystal Duncan	Brittany Sullivan	Jennifer Hewitt

Albers students were major academic and athletic contributors for the Redhawks softball team last spring, accounting for three out of the league-leading ten Redhawks who earned spots on the 2003 GNAC softball Academic All-Conference Team and four out of the seven Redhawks to be named to the 2003 All-GNAC team. 

Of the three Albers students to be named to the Academic All-Conference team, junior second baseman Ericka Briggs, a finance major, and sophomore catcher Krystal Duncan, an accounting major, both toted a 3.58 GPA while senior outfielder Brittany Sullivan, an economics major, maintained a 3.21 GPA. This was Briggs’ second straight year on the team while Sullivan and Duncan were selected for the first-time for this honor. 

Duncan and Sullivan were also major producers on the field for the Redhawks. Duncan, with her dominant defensive presence behind the plate, earned a first team All-GNAC selection. Sullivan earned her third straight honorable mention selection with over one-third of her total hits going for extra-bases.

Joining Duncan and Sullivan on the All-GNAC team were junior pitcher Jennifer Hewitt, a marketing major, and freshman outfielder Marjalena Santos, a business management major. Hewitt earned her second straight second team selection for her team-leading 1.95 ERA while Santos earned her first second team All-GNAC selection with her scalding .305 batting average and high run production totals.

“As an athletic department, we are extremely proud of these individuals and their achievements as we are of all of our athletes,” said Seattle University’s Sports Information Director Jason Lichtenberger, noting that Seattle University athletes have - as a whole - consistently outperformed the other conference schools on an academic level.

“This type of recognition is very important. The coaches of these teams take great pride in these honors and our students take great pride, as well.”

SU/Albers School Soccer Star named Regional Scholar-Athlete of the Year

Nichole Sauvageau, who captained Seattle University’s women’s soccer team and graduated this June, Summa Cum Laude, with a degree in accounting, has received the NCAA Division II west region Conference Commissioners Association Scholar-Athlete of the Year Award. 

One of the most elite awards in the athletic division, she is the first student athlete in SU history to receive the regional honor. She is one of eight women in the country to be granted the award and will be considered for the Division II National Award.

Nichole has had success in the classroom, on the soccer field and in the community. This SU NAEF scholar received the Spirit of Albers Award as a senior, the Albers School of Business Outstanding Sophomore Award in 2001, and was named the Seattle University Women’s Freshman of the Year in 1999. She finished her four-year soccer season as the program’s all-time leader in goals scored, and was named SU’s Female Athlete of the Year. She also participated in a variety of community service projects including the Mexico Mission Trek, Children’s Literacy Project, Search Retreat, and was a Soup Kitchen volunteer.

Albers Events

Alumni Events

Stay connected with ASBE events
Email carpms@seattleu.edu to join the asbe-alumni listserv.

Saturday, November 15, 2003 
20th Annual Seattle University Gala
The Westin Hotel Grand Ballroom 
6:00-11:00 PM
RSVP: http://www.seattleu.edu/gala or 206-296-6157

Saturday December 7
SU Alumni and President’s Club Advent Mass & Reception
Chapel of St. Ignatius at SU
4:00-8:00 PM
More Info: 206-296-6127

Saturday, February 7
Albers/SU Crab Feed
6:30-9:30 PM
More Info: 206-296-5700

Prospective Students

Monthly Graduate Info Sessions

Call 206.296.5700 or e-mail: mba@seattleu.edu

For more go to http://www.seattleu.edu/asbe/grad/upcominggrad.asp

 

Albers People

Jot Yau, published his co-authored paper, “The Linkage of REIT Income- and Price-Returns with Fundamental Economic Variables” in the summer issue of The Journal of Alternative Investments. 

Chris Weber and David Rapach had their article, “Are Real Interest Rates Really Nonstationary? New Evidence from Tests with Good Size and Power,” accepted for publication in the Journal of Macroeconomics.

Chauncey Burke and Carl Obermiller had their case study, “Rebound Sports Technology,” accepted for publication in the Journal of the International Academy for Case Studies. 

Rex Toh and Peter Raven article “Perishable Asset Revenue Management: Integrated Internet Marketing Strategies for the Airlines,” has been accepted for publication in the Transportation Journal.

Bridget Hiedemann co-authored a paper, “More Daughters in Child Care? Child Gender and the Use of Non-relative Child Care Arrangements,” that has been accepted for publication in the Social Science Quarterly.

Sharon Lobel co-authored an article, “The Happy Workaholic: A role model for employees,” published in the Academy of Management’s The Executive.

Gareth Green co-authored the article “Conserving One Water Source at the Expense of Another: The Role of Surface Water Price in Adoption of Wells in a Conjunctive Use System,” and was recently published in Water Resources Development.

Greg Magnan recently received two accolades for his research in supply chain. First, he and his co-author, Dr. Stan Fawcett, BYU, received the “Literati Award” for the most outstanding paper in the 2002 Volume of the International Journal of Physical Distribution and Logistics Management. The article is titled, “The Rhetoric and Reality of Supply Chain Integration.” Their paper, “Supply Chain Success: Three Initiatives Differentiating High- and Low-Performing Firms,” received the “Best Paper Award” at the 14th Annual North American Research/Teaching Symposium on Purchasing and Supply Chain Management.

Debra MacLeod, who graduated in June as an accounting major and received the Provost’s Award at graduation as the top transfer student, tied for the top score on the Washington state May 2003 CPA Exam. 

Mindi Waldemar, who graduated from Albers as an accounting major in 2001, was recently elected to a two-year term as alumni representative on the Beta Alpha Psi national board of directors. BAP is the academic honor society for accounting. Sarah Bee successfully nominated Mindi for the position, and she was selected from a pool of 240 candidates.

Three new members were elected to the Dean’s Executive Advisory Board at a meeting on June 12th. These included Kirk Nelson (MBA ‘85), Washington President for Qwest, Tom Pigott, Partner with Buerk, Craig, Victor LLC (a venture capital firm), and Durga Waite, Director of Investor Relations for Puget Energy.

Chris Nguyen, an incoming Albers freshman from Renton, will be serving as Western Region Vice President for DECA over the coming year. Chris will be representing DECA students from the area west of the Rockies on the DECA national board.

Albers second Muskie Fellow, Roman Vdovenko from Turkmenistan, has arrived on campus. He will be joining Iryna Kolvachuk from the Ukraine who will be studying in her second year. Roman will be pursuing an MBA, concentrating on both ECIS and investments. Albers is one of the few business schools in the nation with two Muskie Fellows!

Pat Fleenor and Peter Raven had their case study, “Video Streaming in Southeast Asia: Blockbuster at the Edge,” accepted for publication in the Asian Case Research Journal.

Kent Johnson (MBA ‘71) received the University Service Award at the Seattle University Annual Alumni Awards ceremony on May 22nd. Kent’s activities include serving on the Albers Dean’s Executive Advisory Board, chairing the advisory board of the Entrepreneurship Center, and a member of the university Board of Trustees.

Rex Toh’s article, “Two Stage Shift Share Analyses of Tourism Arrivals and Arrivals by Purpose of Visit: The Singapore Experience,” co-authored with Habibullah Khan and Lay-Ling Lim, has been accepted for publication in the Journal of Travel Research.

Sharon Lobel’s article, “Worked Up About Overwork” appears in the Take Back Your Time Handbook, the official book of the Take Back Your Time movement. ( Take Back Your Time Day is on October 24th)

Rex Toh’s article, “The Travel Balance Approach and Contributing Factors to Tourism Rejuvenation in Australia and New Zealand,” co-authored with Christine Lim and Juergen Gnoth, has been accepted for publication in the Journal of Hospitality and Tourism.

Al Ansari will be teaching in the Beijing International MBA (BiMBA) Program in December and January. Al will be the first Albers faculty member to teach in the BiMBA program, which is jointly sponsored by the Jesuit business schools in the US. The program is one of the highest-ranking MBA programs in China.

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<<Previous Albers Brief, Spring 2003

Albers Brief Editor: David N. White
Writer: Ned Kandzor and Erica FitzRoy

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