Spring 2004 - Page Two
Russell Investment Leader Examines Business Values with Albers Students
Mike Phillips, Chairman and former CEO of the Tacoma-headquartered
Russell Investment Group, spoke to a packed house of Albers students,
faculty, staff and alumni in Pigott Auditorium in November. His talk was
entitled “a Value-Centered Approach Towards Corporate Governance.”
Phillips spoke about current events and what steps leaders should take to
help ensure a legal and ethical culture within their companies. He then
fielded questions from a three-person panel of Albers students, past and
present, as well as the audience. Known for creating innovative employee
programs and a strong, positive corporate culture, Russell Investment
Group has received multiple awards for its company’s culture, including
being ranked 15th in Forbes’ 1999 ranking of the “Top 100 Companies to
Work For.”
“What I am going to put to you is that this [the issue of corporate
responsibility] is an issue of values,” said Phillips at the beginning
of the evening.
Phillips stated that understanding corporate ethics has to do with
understanding the difference between individual and company values.
Individuals have multiple values and companies have focused on the single
value of return maximization. Although many CEO’s are aware of other
important issues, they have a fiduciary duty to the stockholders to
maximize return.
Phillips suggested that if this single value of return maximization could
be moderated “some good things would happen.” He explained that
“it’s likely that companies would be better governed...and governance
would be more ethical.” “A multiple-values oriented company would
consider, in a more focused way, some of the great humanitarian and
environmental problems.” Phillips also said that “because knowledge
workers are so important to the fabric of companies...there would be a
powerful alignment between company values and the values of the knowledge
workers.”
Phillips went on to discuss ways to instill a multiple-value system into a
company and what benefits would be created for both the company and its
shareholders.
Brinson Returns to Albers to Offer Global Insights
Gary Brinson, a world-renown pioneer of global investing, credits his
rock-solid understanding of the fundamentals of finance to the countless
hours he used to spend tutoring his collegiate classmates. In October, the
1966 Albers Alum returned to Seattle University to again help educate the
students and alumni of the Albers School and share insights on his
business experiences as well as his prospects for the future of global
finance.
The accomplished businessperson and philanthropist spoke to a large
audience in Pigott Auditorium, covering a range of topics from overlooked
strategies in the valuation of investment risk to the historical relevance
(and irrelevance) of studying investment returns in interim time periods.
“When people confuse information with knowledge, people get too
short-sighted and they don’t understand the context in which to place
the data or the experience that they are going through. They don’t know
how to interpret it, they misinterpret it, and they tend to be prisoners
of historical data because they don’t know how to correctly utilize
it,” stated Brinson.
He concluded his presentation with a study of recent trends in global
markets, emphasizing that in evaluating firms in a global market, big,
multi-
national companies need to be thought of in terms of the global industry
or sector that they serve and not the companies’ geographic locations.
“Geography, in this case, is not a factor,” said Brinson. In an
earlier Albers Brief article, Albers Associate Professor Jot Yau noted,
“Gary Brinson occupies a very special place in the investment
profession,” placing Brinson’s impact on the financial world on the
same level as other investment leaders such as Warren Buffet and Peter
Bernstein. (Also see “SU Alumnus Honors Former Professor”)
O’Brien Chair Ready for Opportunity
Dr.
Chris Weber, an associate professor at Seattle University’s Albers
School for the past eleven years, has a lot to say about economics. He
could easily fill three books worth on the subject and he plans to do so
over the next two years, thanks in large part to being awarded the Robert
D. O’Brien Chair beginning in the 2003-2004 school year.
The prestigious O’Brien Chair is awarded on a two-year basis to tenured
Albers professors. The chair provides more time and funding for professors
to finish special research projects or initiate other projects that
reflect the values of the Albers School.
“Chris Weber is the epitome of the teacher-scholar,” said Dr. Barbara
Yates, the Economics & Finance Department Chair for the Albers School,
“He is a very well-read person, citing a variety of historical economic
examples in both his classrooms and his studies and has encompassed that
knowledge via a variety of economic fields.”
Weber, who has taught all levels of economics but now specializes in
teaching intermediate-level macroeconomics courses to Albers
undergraduates, enjoys both the research and instructional aspects of his
job. He recalls an instance early in his career when he knew that he had
truly found his calling.
“There had been one particular student in a statistics courses I was
teaching at the time that had been doing OK but not great in the class. I
remember struggling through the material with her and the specific moment
when that student began to understand the information. Watching that light
bulb go off and experiencing that feeling that the student was grasping
the material and I had helped create that understanding-it was a great
moment.”
His passion for education has been a life-long affair. Originally an
economics and political science double major as an undergrad, it was
Seattle University’s dedication to a well-rounded education that
attracted Weber to teach at the Albers School.
“At Seattle University, with our undergraduates balancing philosophy and
economics, business and art, it is easy to appreciate the breadth of the
education received by our students.”
Always looking for ways he can personally expand that breadth of education
for his students, Weber hopes to soon organize a trip to Nicaragua in
order for his students to see and experience first-hand the true life
impact of economic issues in a developing nation.
In addition to such trips, Weber would like to extend his success in the
classroom to the reading room by writing three diverse and challenging
books focused on better understanding the world of economics. The topics
of these books all mirror Weber’s interest in history and economics,
ranging from a collection of interviews and biographies of the most
influential living economists of our time to a unique analysis of the
connections between economics and theology on a historical level.
When not writing or teaching, Weber is a devout family man who enjoys
performing and arranging music. Last June, Weber traveled to North
Carolina to see and hear one of his musical pieces, a symphony comprised
of various traditional Moravian hymns, performed at a local music
festival.
A Question of Values for Ben Murane
Sometimes, it is not only the value system of the Albers School that impacts the individual, but also the value system of the individual that impacts the Albers School.
To see the kind of student the Albers’ value system attracts, look no further than Ben
Murane, a 20-year-old junior at the Albers School. Business Economics major Murane is a solid student, boasting a 3.61 GPA; a prominent leader on campus, having helped found Seattle U’s Jewish Student Union as well as the school’s Multifaith Council; and a strong advocate for social responsibility, serving as a National Council member for the March of Dimes organization.
Last October, Murane traveled as part of a 20-member team of college students to Washington D.C. to meet with state representatives and discuss the issue of premature births. This is the primary issue which the March of Dimes tries to combat through raising money for research and awareness.
“For me,” said Murane in a recent interview, “the greatest motivating factor about the March of Dimes - and why I continue to volunteer - is the emotional power behind the cause. We’re talking about babies and parents who want their babies to grow up healthy. I think it is something that anyone can understand and feel empathy towards.”
While Murane’s personal drive and inherent abilities as a leader come from within, his experiences at the Albers School and Seattle University have definitely had a positive and lasting impact upon his life and life goals.
“Yes, the business economics degree sets a strong foundation for the five-year MBA, which I plan to pursue. Personally, I love macroeconomics, but as an entrepreneur, most of my time will be spent on the microeconomics side of my firm’s decisions. With a solid ‘hard’ or ‘numbers’ foundation, I can take the MBA-level classes in the ‘soft’ sciences like management and marketing where I can benefit more from the older, experienced MBA classmates.”
When asked which Albers professors have had a lasting, positive impact on him, Murane specifically cited Dr. Dean Peterson and Dr. Teresa Ling.
“They each have an excellent sense of humor and excel at explaining their subjects in plain English. Dean Peterson also engages economics from a social justice aspect as well as pure economics. It would be easy to leave that part of economics out, but he includes bits and pieces here or there to stimulate our critical thinking outside the classroom once the tests are all over.”
Murane, who has never traveled beyond the United States or Canada, is excited to take advantage of the Albers “study abroad” program next Fall. He will travel to Israel, hoping to intern with Palestinian non-profits and help write grants.
“My purpose in going is primarily personal development. Seeing the world and America from another point-of-view is important.”
Where Murane hopes all of his experiences will help lead him is to his goal of becoming a “serial entrepreneur” of non-profit organizations. Murane cites a personal mentor’s for-profit company, which trains students to be leaders, as an example.
“I would love to emulate the same model in markets that cannot pay for his excellent services, as a non-profit entity. In a summer-camp or ‘exchange program,’ I would introduce American teenagers to different ways of life within their own country. I wish I had been exposed to the realities of poverty and “need” in the world before college-I would desperately like to empower youth at an earlier age to make choices that affect these issues.
“Youth leadership is often the hardest investment to make because it is so long-term and the results are intangible.”
SU Alumnus honors former professor with Finance Chair Endowment
Gary Brinson (‘66) may be one of the most influential investment
managers in the world, but he has not forgotten those who influenced him.
Specifically, he has not forgotten Dr. Khalil Dibee, his former professor
of finance at Seattle University. His appreciation of Dibee’s teaching
recently prompted Brinson to donate $3.5 million to establish the Dr.
Khalil Dibee Endowed Chair in Finance at the Albers School. This is the
largest individual donation in Seattle U. history.
Brinson, founder and retired chair of Brinson Partners, Inc., is
considered one of the “living legends” of the investment profession.
“At one point, Gary Brinson was overseeing the management of $1 trillion
in assets,” said Joe Phillips, dean of Albers. “But his most
significant contribution is his work in asset allocation and global
investing. He has had a major impact on investment practice.” Brinson
now heads his own private investment firm, GP Brinson Investments, and is
involved in philanthropic activities with his wife and two daughters
through The Brinson Foundation.
Brinson attended Seattle University from 1962-1966, receiving a B.A. in
finance. A self-confessed “so-so” student, Brinson got a push from
Dibee, a teacher with a reputation for challenging his students to work to
their full potential. Dibee encouraged Brinson to go on to graduate school
(SU did not have an MBA program at the time) and helped him get an
assistantship at Washington State University.” A significant part of my
success in life is attributable to Dr. Dibee’s teaching and
encouragement during my formative years at Seattle University,” said
Brinson. Dibee taught at SU for nearly 30 years, retiring in 1994. Dibee
says he was stunned and honored by the donation. Dibee, who has followed
Brinson’s career in the Wall Street Journal, recalled when Brinson would
come to class in the morning after working all night at the Oberto sausage
factory: “There’d still be traces of meat on his shoes, but he came to
class and accepted the challenge, becoming an A student.”
“The Dr. Khalil Dibee Endowed Chair in Finance will greatly enhance what
is already an outstanding finance department,” said President Stephen
Sundborg, S.J. “We are tremendously appreciative of this generous
contribution and the honor it confers to a talented and caring teacher.”
Global MBA program kicks off
December marked the official launch of Albers new MBA program
“Students Acquiring Global Education” (SAGE). The program teamed
Seattle U MBA students with MBA students from England’s Henley School of
Management to tackle an international business project. The goal is to
provide a worldwide business perspective for the students.
“SAGE offers students the unique opportunity to serve international
corporations oversees, work with fellow MBA from around the world and gain
experience in global business practices,” said Peter Raven, associate
professor of marketing and a SAGE program director.
The Henley team arrived in Seattle in December, met the SU team and began
planning a project to assist Farmers Insurance in the United Kingdom
market. The students were guided by SU professors Peter Raven and Jerry
Ralston and by a Henley faculty member in England. Communication
throughout the project took place via WebCT and video conferencing.
“This has been a great opportunity to get hands-on experience on a
complex global business project while working side-by-side with my
American MBA colleagues,” said Mike Warren, Henley MBA student. “I
gained an edge that I could not have achieved in the classroom.”
Combined, the three SU MBA students have more than 50 years of
professional experience in human resources, information technology, and
finance with organizations such as AT&T Wireless, Microsoft, Kelly
Services and the City of Seattle. The three Henley MBA students also have
50 plus years of human resources, sales, and marketing experience with
such firms as British Telecom, Glaxo, Coca Cola, and Gillette.
For more information on SAGE, contact Peter Raven (206) 296-5763 or pvraven@seattleu.edu.
US News Ranks Albers Undergrad Program
The Albers School made the 2004 US News and World Report rankings of undergraduate business programs. Tied with schools such as Gonzaga, Creighton, St. Joseph’s, John Carroll, Dayton, and Tulsa, this ranking puts Albers in the top 10 percent of undergrad programs and the top 50 of business programs at private universities. SU and Gonzaga are the only two private schools in the Northwest to achieve this distinction.
Washington Mutual Supports Summer Business Institute
Washington Mutual has agreed to provide $15,000 in funding Albers
Summer Business Institute (SBI). SBI brings underrepresented minority high
school students to campus for 5 days in the summer to learn about college
life, business education and future career opportunities. Eighteen high
school juniors participated in last summers SBI.
They are pictured here with their student mentors at a company visit to
COSTCO Wholesale headquarters. (Double click for complete photo)
Albers Launches Business Ethics Initiative
In November, area leaders gathered at Seattle U. to celebrate the
launch of the new Albers Business Ethics Initiative (ABEI). The three-year
initiative will make business ethics experts available to Northwest
organizations via public workshops and online communications. The
initiative culminates in a Pacific Rim conference in 2006.
ABEI is a joint initiative between the Frank Shrontz Business Ethics Chair
John Dienhart and the Northwest Ethics Network (NWEN)-a group of local
ethics and compliance officers from firms such as Microsoft, Boeing,
Starbucks, Regence BlueShield, Weyerhaeuser and more. The purpose of the
initiative, according to Dienhart, is to “to help insure that
companies’ core values are shared from the top down, and to assist them
in building more ethical and efficient organizations.”
The effort is funded with a substantial donation from former Boeing CEO
Frank Shrontz and matched funds from such sources as Weyerhaeuser, Boeing,
PEMCO and The Norcliffe Foundation.
The first of the lecture and workshop series, scheduled for May 27, 2004,
will focus on building ethical cultures and integrating ethical conduct
into all levels of business and organizations.
Deinhart, who would like to see this program transition from an
initiative into a sustainable long-term program, notes that the workshop
series is for both large corporations as well as small businesses.
“The workshop series will take a practical, “how-to” approach,
applicable for any size of company or organization,” said Deinhart.
For more information on the ABEI or to sign up for the workshop series,
visit http://www.seattleu.edu/asbe/abei/default.asp.
Albers Students Receive Best Case Award, Again
In December, students in Harriet Stephenson’s Strategic Management class received the region’s Best Case Award for Undergraduate Comprehensive submissions in the Small Business Institute’s Case of the Year competition and won the National Runner-Up Award presented at the National Small Business Institute & Consultants meeting. SU teams have placed in District and or National in nine out of the ten prior years.
Back row: Dovie Connally,
Monica Chao, Juliette Do
Front row: Linsey Mounger, Feina Feina, Client Evelyn Cohaniim
The student’s case was on the “Panini Grill Café.” One of the owners, Evelyn Cohanim, works part-time in the Public Safety Department at Seattle University and had read about the program in which teams are formed to work with a business owner to do in-depth analysis. The team worked with Evelyn during winter quarter putting in a total of 767 hours of work culminating in a professional report and presentation to the client. The client noted, “I just wanted to let you know that I have found many of the student’s recommendations very useful and we have been implementing some of their suggestions into our business. It definitely deserves recognition for an outstanding professionally delivered consulting project.”
Soccer Star Earns Top Honors Again: Pulse Repeats as Player of the Year
The women’s soccer season is over but junior midfielder standout and
International
Business major Tafara Pulse still has a lot on her plate this off season.
Pulse plans to keep up the rigorous training and study sessions that have
earned her accolades for her performances both on and off the field but
she also wants to find time to squeeze in a foreign study trip to Spain to
help regain her fluency in the Spanish language.
What Pulse, a Yakima-area native, hopes all this hard work will translate
into is the achievement of two of her biggest goals-helping the Redhawks
return to post-season play and preparing herself to find her dream job.
Though the Redhawks missed the playoffs this year by the narrowest of
margins, Pulse’s positive impact on the field was undeniable. Pulse was
named the Great Northwest Athletic Conference (GNAC) Player of the Year
for the second straight season and this marks the fifth year in a row that
a Seattle University player has earned the honor. Pulse tied for the GNAC
lead with 36 points on 12 goals (second in the GNAC) and a league-high 12
assists (22nd in NCAA Division II). She tied for second in the GNAC with
five game-winning goals. Pulse has been a first team All-GNAC selection in
all three of her seasons with the Redhawks and was a unanimous selection
for the second straight year. She was also the Freshman of the Year in
2001.
“I never want to assume that I am going to receive an award,” said
Pulse, noting that she always appreciates the recognition. One of the
titles she is most proud of is the title of “team captain,” an honor
bestowed to her at the beginning of the season by her teammates.
“I have yet to see a more talented midfielder among all the competition
we have faced,” said Coach Julie Woodward in an article in the SU
student newspaper, The Spectator, “She has an incredible desire and
passion for the game and her competitiveness and will to win is extremely
contagious and she passes this on to her teammates.”
Likewise, Pulse sees that same desire to win in her teammates and is
equally inspired to succeed.
“[After missing the playoffs] you could see it in our faces-we had
really wanted it. Seeing our competition make the playoffs has shown us
where we want to be next year.”
Pulse has also thrived academically, earning her second straight selection
to the Academic All-GNAC team this year, racking up a 3.61 GPA.
She partially credits her in-class performance to great Albers instructors
such as Tom Kelly and Teresa Ling with keeping the class material fresh
and engaging for students.
As for Pulse’s dream job, she is still undecided. She knows it will
involve travel, perhaps be in sports industry, and hopefully allow her to
continue to do “a little bit of everything,” a role she has become
most comfortable with at Seattle University.
Albers' People
Greg Prussia’s co-authored paper, “Employee Response to Performance Feedback: A Covariance Structure Analysis Using Ilgen, Fisher, and Taylor’s (1979) Model,” has been accepted for publication in the Journal of Applied Psychology.
Vinay Datar’s co-written article, entitled “A Simple Algorithm for Valuation of Real Options: An Intuitive Alternative to the Black-Scholes Formula,” has been accepted for publication by the Journal of Applied Finance.
Fiona Robertson and Dean Peterson have co-authored the article “Using Federal Reserve Publications in Institutions and Markets Courses,” which will be published in a forthcoming issue of Advances in Financial Education.
Peter Brous’ article entitled “Preparing and Delivering a Course in Real Options Analysis,” has been accepted for publication in the Journal of Financial Education.
Bonn Oh Kim co-authored the article “Web Services and their Business Implications,” which has been accepted for publication in the forthcoming issue of Issues in Information Systems.
An article co-authored by Fred DeKay, Rex Toh, and Barbara Yates, “Non-Performance Penalties in the Hotel Industry,” has been accepted for publication in the International Journal of Hospitality Management.
An article co-authored by Peter Raven, “An Exploratory Study of Influences on Retail Service Quality: The Gulf Region Unveiled”, has been accepted for publication in the Journal of Services Marketing.
John Deinhart has recently received the honor of being selected as a Fellow of the Ethics Resource Center. John is one of eight academics of the fifty five member group who represent the nation’s most prestigious corporations, government organizations, non-profit organizations and academic institutions. (www.ethics.org)
Sharon Lobel’s recently published article, “The Happy Workaholic: A Role Model for Employees,” was also highlighted in the November 2003 edition of the Wharton Leadership Digest as well as featured on the Work and Family Connection web site.
Gareth Green has received a $32,000 research grant from the Washington Department of Ecology to investigate the economic value of water used in Columbia Basin agriculture and the potential of new water markets.
Rex Toh co-authored a paper, “Exploring the Dimensionality of the Originally Subscale of the Kirton-Innovation Inventory”, that has been accepted for publication in Psychological Reports. Another article co-authored by Toh, “Road Congestion Pricing in Singapore 1975-2003,” has been accepted for publication in the Transportation Journal. In addition, Toh has been selected to serve on the editorial board of the Cornell HRA Quarterly.
Bruce Koch has had two articles recently accepted for publication; “The Influence of Domain Knowledge and Task Complexity on Tax Professionals; Compliance Recommendation” in Accounting, Organization and Society and “MicroStrategy” in Issues in Accounting Education.
Diane Lockwood has been appointed to the editorial review board of the Academy of Information and Management Sciences Journal.
Upcoming Events
Saturday, March 27, 2004
Crab Feed with Live Jazz Lounge with spirits
5:30 - 10:00 pm
Tickets $35 per person with advance registration
($40 at the door)
Call 206.296.6127 to register or for more information
Register online at:
www.seattleu.edu/alumni/whats_happening.asp
Thursday, April 1, 2004
6 PM - 9 PM
Albers Senior Networking Event with Albers Alumni
Interested Alums call 206-296-5687
Thursday, April 15, 2004
5 PM - 7 PM
Student Center
All SU Graduate Programs Open House
206-296-2072
Tuesday, May 4, 2004
5:45 PM - 6:45 PM
Pigott Auditorium
Dean’s Speaker Series
Denise Morrison: President of Global
Sales and Chief Customer Officer
Campbell Soup Company
No RSVP Needed
Thursday, May 27, 2004
5:45 PM - 6:45 PM
Pigott Auditorium
NW CEO Panel featuring
Frank Shrontz (former CEO of Boeing),
Chuck Pigott (former CEO of PACCAR),
and Jack Creighton (former CEO of
Weyerhaeuser and United Airlines)
No RSVP Needed
Friday, July 16, 2004
1:30 PM Start
Albers Alumni Golf Tournament
Trilogy Golf Course, Redmond
www.seattleu.edu/asbe/alumni
<<Previous Albers Brief, Fall 2003
Albers
Brief Editor: David N. White
Writer:
Ned Kandzor and Erica FitzRoy
For a copy, or to be put on our mailing list, Contact David White.