The
Lubin Letter
PA C E U N I V E R S I T Y L U B I N S C H O O L O F B U SI N E S S
VOL. XVII, NO. 3
http://www.lubin.pace.edu
SUMMER 1998
Lubin Introduces New Entrepreneur in Residence Program
A
s part of its continued development
graduate course offerings in entrepreneurcomprehensive independent institutions of
of programs and curricula in entreship through the management and markethigher learning. Also, the application noted
preneurship, the Lubin School is ining departments, as well as the Lubin
that Pace has been chronicled as one of the
troducing a new Entrepreneur in Residence
School’s entrepreneurial efforts through
more innovative and entrepreneurial eduProgram to begin in 1998-99. Modeled after
the Small Business Development Center.
cational development efforts in the United
Lubin’s Executive in Residence Program,
Longer-term, the Lubin School may seek to
States. For example, in 1977, Change Magathe Entrepreneur in Residence Program
add more experiential learning opportunizine cited Pace University as an institution
will provide an opportunity for individuals,
ties as well as venture funding initiatives for
“...whose future can be measured in giant
who by virtue of their own initiative, have
students and alumni.
steps.” And, Peter Drucker, in his Innovacreated, financed, and managed new
tion and Entrepreneurship (1985),
business ventures, to impart some
cited Pace University among the
of their knowledge to our students
nation’s “entrepreneurial universities”
and faculty.
steeped in entrepreneurial instinct
Lubin has received a grant to fund
and focused on seizing opportunities
this new program from the Coleman
for educational excellence in a
Foundation, Inc. of Chicago. The
manner reflective of societal and
Coleman Foundation, noted for
market needs.
awarding seed money for entrepreThe application to Coleman
neurial ventures, selected the Lubin
noted, especially, that it is on the
School of Business as one of 40 colentrepreneurial foundation of the
leges and universities nationally to
University that the Lubin School of
receive a Coleman Entrepreneurship
Business was created. The School,
Awareness and Education Grant of
named for its benefactor, Joseph I.
$25,000, the maximum amount
Lubin (Pace Institute ’18), reflects
awarded by Coleman.
the entrepreneurial spirit of its nameThrough the Entrepreneur in Resisake Joe Lubin, as he was affectiondence Program it is expected that
ately known. Educated at Pace as an
Professors Karen Berger and Joseph Pastore pictured on the grounds of
three entrepreneurs per year will visit the Pleasantville campus.
accountant and at NYU as an attorthe Lubin School to engage faculty and
ney, Joe Lubin created his own highly
students in ways that reflect the particular
successful accounting and commercial real
Joseph M. Pastore, Jr., professor of
entrepreneur’s interests and strengths.
estate business and, in doing so, provided
management in Westchester, made appliSpecific activities may include: lecturing to
an
exemplary model for generations of Pace
cation for the grant. Diana Ward, Lubin
large groups; workshops on entrepreneurstudents who have followed his path in the
School grants coordinator, Professors
ship; assistance in the development of case
formation of their own commercial and
Karen Berger and Robert Dennehy, and
material; mentoring students in the develprofessional enterprises.
Associate Deans James Russell and Peter
opment of new venture plans for which
Mr. and Mrs. J. D. Stetson Coleman
Hoefer assisted Dr. Pastore.
funding may be sought; serving as a
founded the Coleman Foundation in 1951.
medium through which other support for
The Colemans were concerned business
Reflection on Entrepreneurial
entrepreneurial studies may be obtained;
people and entrepreneurs. At the time of the
Beginnings of the University
and serving in an advisory capacity to the
Foundation’s creation, they were the owners
In the application to Coleman, Dr. Pastore
Lubin School.
of Fannie May Candies. Since 1981, the
reflected on the dramatic growth of Pace
The creation of the Entrepreneur in
Foundation has awarded approximately
Residence Program serves to augment the
University from its entrepreneurial years to
$20 million to promote the principle that
Lubin School’s current undergraduate and
its current status among the nation’s larger
“self-employment means self-sufficiency.” ❖
NY Power Authority Employees Graduate
From Special M.S. Program
by Fred Murrell
M
ay 8 was the graduation celebration of a very special group of
people, 12 employees of the New
York Power Authority (NYPA). This is the
third class to complete the special Lubin
M.S. in management science program. The
M.S. in management science is a two-year
program tailored specifically for utility personnel and is conducted in the evening at
the NYPA Indian Point facility on the Hudson River. The courses, which combine
management science methods and handson computer applications with general
managerial skills, are designed to enhance
the professional’s ability to make decisions
and solve problems in the rapidly changing
utility business arena. Participants complete the program in a predefined sequence
over two years.
This graduating class of NYPA employees, as the others before them, made the
commitment to graduate studies while balancing full-time careers and family obligations. “Their performance,” according to
Pace University provost Dr. Richard Podgorski, “set a very high standard for future
students.” Lubin School of Business Dean
Arthur L.Centonze joined Podgorski in
congratulating the graduates and presenting
Lubin Letter
is published three times a year
by the Office of the Dean
Pace University
Lubin School of Business
1 Pace Plaza
New York, NY 10038-1598
Dean: Arthur L. Centonze
Assistant Dean for External Relations:
Marie Schu
Editor: Diana Powell Ward
Reporters:
Jandaya Fishenfeld Fred Murrell
Staff Photographer: Jared Bernstein
Art Director: Gina Logomarsino
Faculty Awards . . . . . . . . . . . . . . . . . . . . . 3
Lubin School Campaign News . . . . . . . . 4
Beta Gamma Sigma Inductees . . . . . . . . 5
Beta Alpha Psi Chapter Installation . . . 7
Class of 1998 Award Winners . . . . . . . . 8
Executive in Residence . . . . . . . . . . . . . 11
Executive MBA Group Explores S.A. . 12
Profile: Dr. Roberty F. Dennehy . . . . . 13
Faculty Notes. . . . . . . . . . . . . . . . . . . . . . 14
Lubin in the News. . . . . . . . . . . . . . . . . . 15
“Real World Application of
the Program”
Anthony Jackson and Joseph Barnes (l. to r.) were
honored at the NYPA graduation.
The
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their diplomas. Dr. Gene Zeltmann, chairman and CEO of NYPA, also congratulated
the graduates and expressed his admiration
for their commitment to higher education.
As keynote speaker, Dr. Margaret Gotti,
Pace University vice-president for the Office of the President, lauded the students
and declared “...we are confident that the
curriculum and experiences of your management science program have given you
the capacity, the confidence, the concepts,
and the connections to indeed be best in
class, to be world class.”
In this issue:
Outstanding Students Honored
by Their Peers
In keeping with tradition, the graduating class chose a member of their ranks to
speak at the ceremony. The speaker for this
class was Donald Calabrese, who expressed
thanks to NYPA and Pace University for
making this program available. Calabrese
also gave special note to each member of
the faculty and thanked them for their
commitment to the students and the
program.
Two special awards were presented at
this year’s ceremony. The first went to
Joseph Barnes who was recognized as the
outstanding student of the 1998 graduating
class. Dr. Hubert Dwyer, director of the
M.S. program and professor of management science, presented the award to
Barnes and congratulated him on his excellent academic record.
Robert Hiney, senior vice-president of
NYPA, presented the second award to Anthony Jackson for “real world application”
of the tools acquired in class. Jackson was
the leader of a team that developed a linear
programming model for fuel supply acquisition that will save NYPA some $6 million
over the next few years. On accepting the
award, Jackson stressed the fact that this
was a team project and he would accept the
honor only as a representative of the team.
Along with Jackson on the team were fellow
graduates Joseph Barnes, Damian Bivona,
Edward Fisher, and Ellen Gobstein.
When asked his opinion of the joint Lubin/NYPA program, Tony “Action” Jackson was decidedly outspoken. He believes
that teamwork is a key element in this program and stated that the members of this
class were very committed to each other,
“...like a small family.” His praise was
equally strong for the faculty for their commitment to the program and accessibility to
the students. According to Jackson, the
value of the Lubin School program lies in
its blending of theory with applicable skills,
skills that can be put to work immediately
on the job. His team’s success in fuel supply
acquisition is a case in point.
On behalf of the graduates Jackson also
thanked Moe Liss, NYPA curriculum specialist, for the help and support he provided to the participants in the program.
Liss helped design the original program
and is working to put together another class
for the fourth cycle of the program. ❖
Outstanding Faculty Honored for Teaching, Innovation, and Service
by Jandaya Fishenfeld
O
n April 24, the Lubin Faculty Council
announced the award recipients for
Teacher of the Year, Innovation in
Teaching, and Outstanding Service. The
awards recognize faculty who have demonstrated outstanding performance in teaching; innovation in teaching processes; and
service to students in the Lubin School of
Business, Pace University, the profession, and
the community. Separate committees representing faculty, students, and administrators
evaluated nominees for the teaching and service awards and a committee of faculty evaluated the innovation in teaching nominees.
and Management Science Department and
Professor Dan Baugher, chair of the same
department, were chosen as the first recipients. Varanelli and Baugher have worked together for 10 years implementing gaming and
computer simulation programs in the classroom. As a matter of fact, they were using
gaming in this way long before it was popular
and have published many articles and manuals on the use of computer simulation in the
classroom. They are currently using an Internet game called “Netstrat” in management
classes at Lubin. The selection committee
judged their demonstrated continuous
improvement and sustained innovation in
the classroom to be outstanding.
Outstanding Service Award
Professor John Teall
Teacher of the Year
Professor John L. Teall of the Finance and
Economics Department received the Seventh
Annual Teacher of the Year Award in recognition of his outstanding performance and
dedication to the teaching craft. As part of
Teall’s teaching philosophy he holds himself
and his students to the highest standards of
learning and thinking, but as he says, in doing so “most importantly, we have fun.”
With this kind of balance in his approach to
teaching, it is no surprise that his superior
ability to integrate contemporary business
theory and practice into his classroom instruction has distinguished his work here at
Lubin. His teaching philosophy, instructional methodologies, student and peer
evaluations, and other teaching awards and
recognition were among the attributes evaluated by the committee.
As the result of a tie, the Fifth Annual Outstanding Service Award was presented to two
faculty members this year. Professors Thomas
J. Webster of the Finance and Economics Department and Kathryn F. Winsted of the Marketing Department received the Outstanding
Service Award in recognition of their distinguished service to their departments, the Lubin School, Pace University, the profession,
and the community as an integral component
of faculty and student development.
At Lubin, Webster is the faculty advisor for
Beta Gamma Sigma, the preeminent national
honor society in business for collegiate schools
of business accredited by the AACSB. He also
serves on the Academic Agenda Subcommittee of the Strategic Agenda Committee for the
University, among others. His hard work and
Dean Centonze congratulates Professor Thomas
Webster (r.) for receiving the Lubin Service Award.
dedication in inaugurating this honor society
here and his many other extracurricular contributions to the School and the University
are to quote him, “a labor of love.”
Winsted has contributed service to many
areas of the University including co-chairing
the University Strategic Agenda Enrollment
Planning Committee. At Lubin, her active
membership on the Lubin Strategic Plan
Steering Committee and her guidance as
chair of the Program Innovation Committee that chooses the Innovation in
Teaching Award recipients stand out as
prime examples of her efforts to strengthen
and enhance the health of the School and the
University.
These faculty awards are a reflection of
the well-being of the School that speaks to
our strengths: balance of theory and practice,
innovation in the teaching process, and dedication and service to the community. ❖
Innovation in Teaching Award
To encourage and recognize innovation
in the classroom, a new Lubin Teaching
Innovation Award was inaugurated this
year. In recognition of their innovative curriculum and teaching pedagogies, Professor
Andrew Varanelli, Jr. of the Management
(Left to right) Professors Dan Baugher and Andrew Varanelli receiving the Innovation in Teaching Award
from Professor Kathy Winsted (chair of the committee). Kathy Winsted herself was honored with the Lubin
Service Award which she shared with Professor Thomas Webster.
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Lubin School Campaign News: $3.5 Million Raised to Date
P
rogress on the Lubin School campaign has occurred in several areas in recent weeks. The 25-member Lubin Campaign
Steering Committee, chaired by Edward F. Murphy, ’74, held an initial meeting in mid-April. An intense effort was made
subsequently by the committee to recruit new members from the faculty and from the industries with which the University
has the closest ties, who have the desire, time, resources, and influence to advance the campaign. Eight new volunteers have
joined the committee thus far. The Committee will be reaching out to other alumni and friends who deserve to have the opportunity to invest in this important initiative for the Lubin School in the coming months. Plans are underway to hold a volunteer retreat that will provide the framework for future activities of the committee.
A second exciting development is the recent notification by the J.P. Morgan & Co. Incorporated that it has approved a grant
for $200,000 to the Campaign for Pace University. This grant represents the largest single grant given to the University by J.P.
Morgan and qualifies for the Dyson Family Challenge. One hundred thousand dollars of this grant has been earmarked for a priority endowment need in the Lubin School. The remaining $100,000 will be used to match the NEH Challenge Grant.
Sixth Annual Alumni Achievement Award Luncheon Set
On December 4, 1998, the Sixth Annual Lubin Alumni Achievement Award Luncheon will be held at The Chase Manhattan
Bank, William and Nassau Streets, New York City. The Lubin Alumni Achievement Award recognizes an alumnus/a for his/her
outstanding professional achievements and contributions to the University, Lubin School of Business, or community. Each year
this event provides critical financial support to both undergraduate and graduate students in the Lubin School on a rotating basis
through the Lubin Alumni Achievement Award Scholarship Fund. To date, the luncheon has raised more that $150,000 for the
scholarship fund while honoring several distinguished alumni, among them last year’s recipient, Jack Salzman, president of Salzman Capital Management. New endowment money raised since 1995 qualifies for the Dyson Family Challenge.
The kickoff for this year’s event was on May 21 when a steering committee of active alumni, alumni corporate representatives,
advisory board members, and faculty gathered for a breakfast meeting with Dean Arthur Centonze and the Institutional Advancement staff to discuss plans, to pursue the participation of corporations and business firms, and to begin to review nominees
for the 1998 Alumni Achievement Award. A new element introduced at the luncheon last year that will continue is the Recent
Alumni Service Award, which has been established to recognize the significant contributions and accomplishments of alumni
whose degrees were conferred from one to ten years ago. Five recent alumni were honored last year. ❖
J. P. MORGAN
COMPTROLLER
ADDRESSES FACULTY
COLLOQUIA
n April 30, David H. Sidwell,
managing director and comptroller at J. P. Morgan & Co.
Incorporated and its wholly-owned subsidiary Morgan Guaranty Trust Company
of New York, was the luncheon speaker
at the Accounting Faculty Colloquia. Mr.
Sidwell addressed the timely topic of
derivatives and the accounting profession.
Dr. Rudy Jacob, chair of the accounting
department, commented that “hearing
from a knowledgable practitioner enables
the faculty to achieve the blend of theory
and practice in the classroom that makes
Lubin’s programs leading edge.”
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Business School Deans from China
Visit Lubin
A
delegation of 10 Chinese officials from the Ministry of Education and deans of
the leading business schools in China visited the United States in June. The U.S.
Department of Education invited the delegation for a two-week tour of the U.S.
to learn how successful business schools and M.B.A. programs are run. They visited a
number of other universities with strong M.B.A. programs such as Columbia, NYU,
Harvard, MIT, University of Chicago, and Stanford University. The delegation also
attended AACSB’s Global Forum on Management Education in Chicago, an international conference attended by business school administrators from around the world.
The National Committee on United States-China Relations administered the tour.
The Lubin School was specifically selected for this program based on our unique
location near Wall Street, multiple campuses, and our graduate and undergraduate
programs for part-time students. The Lubin orientation was conducted at the World
Trade Institute and hosted by Dr. Peter Hoefer, associate dean and director of Graduate Programs, who presented the overview of the University and Lubin’s graduate
activities. Lynne Byrne, associate dean for Undergraduate Academic Advisement,
presented the undergraduate business program.
Beta Gamma Sigma Inductees Are Urged to Have Passion
and Conviction for What They Do
by Fred Murrell
he second annual induction ceremonies were held this spring by the
Pace University chapter of Beta
Gamma Sigma, the national honor society
in business. Ceremonies were conducted on
the Pleasantville campus in the Kessel Campus Center on April 28 and at the downtown New York City campus in the Schimmel Center for the Arts on April 30. Over
137 graduate and undergraduate students
have been accepted into the chapter this
year, according to Professor Thomas Webster, the faculty advisor.
T
“The difference between being
a good manager and an executive is that leaders influence
ordinary people to extraordinary accomplishments.”
–Clifford
This year’s Chapter Honoree Award was
presented to David Clifford, executive vice
president and chief financial officer of
Crown Theaters, at the New York induction
ceremony. After receiving the award, Mr.
Clifford gave an inspirational speech to the
new inductees and their families.
According to Clifford, “Winners are
people who have the character to triumph
over adversity.... No one can defeat you unless you let them.” He went on to urge the
Security Analysts
Award Scholarships
The New York Society of Security Analysts
awarded two $5,000 Heloise S. Ham
scholarships to college juniors who
demonstrated academic excellence and
an interest in the securities profession, and
who completed a summer internship at
the Society. The scholarships went to two
Lubin students: Ms. Wai Lim Chen and
Mr. Edwin R. Soogrim. Lim and Soogrim
completed internships at the Society last
summer. This is the first year the Society
has awarded this scholarship.
new inductees to have passion and conviction for what they do, for he said that to
truly excel one must find a job that one can
be passionate about. For Clifford, hard
work and perseverance are not enough to
be successful, he stressed that one must be
able to grow from adversity, and be the best
communicator possible both with one’s colleagues as well as with the outside world.
Beyond this, he added that one must be a
good leader. “The difference between being
a good manager and an executive,” he said,
is that, “leaders influence ordinary people
to extraordinary accomplishments.”
In closing, Clifford issued a challenge to
all those present. “Once you’ve attained
your goals, think of the people who helped
you along the way.” He then challenged everyone to do the same for at least one other
person. “It will enhance your life in more
ways than you can imagine.”
The high acceptance rate by eligible
students at Pace University last year qualifies this chapter to present a Beta Gamma
Sigma Scholarship for 1998. The $1,000
scholarship went to Laura Iannucci, a
junior on the Pleasantville campus.
Membership in this honor society is
restricted to outstanding scholars in graduate or undergraduate programs at collegiate
schools of business accredited by AACSB:
The International Association for Management Education. To qualify for membership, master’s degree candidates must rank
in the upper 20 percent of their graduating
class and have a minimum grade point av-
Beta Gamma Sigma Chapter Honoree David
Clifford (r.) receiving the award plaque from
Dean Centonze.
erage of 3.65; graduating seniors must rank
in the upper 10 percent of their graduating
class and have a minimum grade point average of 3.50; and juniors must rank in the
upper 7 percent of their class and have a
minimum grade point average of 3.65.
Dean Arthur L. Centonze is the ex-officio
president of the Pace chapter of Beta
Gamma Sigma and Dr. Michael Szenberg
is faculty vice president. Graduating senior
Martha Nelson was the student vice president for 1997-98. ❖
112 Students Complete Studies and Return
to Sweden – Second Group Arriving July 20
n June 25, the Center for International Business (CIBS) said goodbye with a
graduation ceremony to 112 students from the Folk University Institute for
International Studies in Sweden who began their program in International Business
Studies this past January.
CIBS will welcome a new class of 70 students from the Institute on July 20, to
begin a ten-week program at the Lubin School studying international marketing,
advertising, and public relations, as well as business English through Pace University’s English Language Institute.
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Pace Advertising Team Places Sixth in National Competition
The Pace University Advertising Team, FastPace, is pictured above with Professor Kathy Winsted, the faculty advisor, in the second row, far left.
by Jandaya Fishenfeld
ace University’s advertising team,
FastPace, placed sixth out of fifteen
teams competing in the American
Advertising Federation’s National Student
Advertising Competition’s District finals in
New York on April 18. FastPace, consisting
of 28 Pace students majoring in marketing,
communications, and art, was challenged
to develop an advertising campaign for
Hallmark that would lead consumers to insist on Hallmark when purchasing greeting
cards. Part of their campaign strategy included a new slogan for Hallmark: “Hallmark. Because it matters.” The team designed an ad campaign utilizing a variety of
media vehicles such as network, cable TV,
magazines, and national radio spots to increase consumer awareness of greeting
card brand loyalty; position Hallmark as
most desirable card brand to buy; and convince greeting card buyers that it matters
whether they purchase Hallmark.
Dr. Kathy Winsted, assistant professor
of marketing, served as advisor to the team.
Melissa Carabello, Dina DeStefano, Andrew Fuente, Charina Ghan, and Jerry
Samuels presented FastPace’s plan in the
New York competition. Their 40-page
plans book and PowerPoint presentation
was evaluated and scored by a panel of five
P
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judges from major advertising agencies and
the Hallmark Company. Pace beat out the
majority of the schools in the competition,
including Baruch, Loyola, Marist College,
and Georgetown.
In addition, two undergraduate marketing students have received scholarships in
recognition of their work. Paola D. Lopez , a
junior marketing major, received the Advertising Club of Westchester’s Robert Puglisi
1998 Merit Award of $750 earmarked for a
course or courses in an advertising-related
field for the fall semester of her senior year
in Lubin. Robyn Saffian, a marketing major
with a double specialization in advertising
and promotion and marketing management, received a monetary prize from the
Society for Marketing Professional Services
for a news release she created about herself
as the winner of this award. ❖
Fifth Annual Securities Conference
he Center for the Study of Equity Markets is sponsoring the Fifth Annual
Securities Industry Conference scheduled for Thursday, October 15, 1998 at
Pace University in downtown Manhattan. The theme of the conference will
be: “WALL STREET AND FINANCIAL SERVICES: PLANNING FOR PROFITS
IN AN AGE OF GLOBAL INFORMATION,” with Michael Bloomberg
(Bloomberg Financial Services) as the keynote speaker. Conference sponsors will
again include the New York Stock Exchange, the National Association of Securities
Dealers, and a host of other financial institutions.
There is a registration fee of $345 for the full day, including breakfast and lunch.
Advance reservations are required. Anyone interested in attending should contact
Dr. William C. Freund, director of the Center for the Study of Equity Markets at 1
Pace Plaza, New York, NY 10038. (Tel: 212 346-1814; Fax: 212 346-1731; email:
[email protected]).
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Lubin Pride Was Palpable at
Beta Alpha Psi Chapter Installation and Induction Ceremony
by Jandaya Fishenfeld
N
early three years of dedication and
involvement on the part of the
student members and the faculty
advisor, Professor J. Marion Posey, of the
Accounting Honor Society (AHS) finally
paid off. On April 17, their petitioning
achievement in earning the “superior” petitioning chapter distinction, commenting,
“The quality of work you have done has set
a standard for those who follow you.”
A Story of Uncommon Success
Since the formation of the Pace Accounting Honor Society in the fall of 1995,
the vision shared by its members to become
an official chapter of Beta Alpha Psi was
distinguished by their herculean effort to
meet and surpass not only their own ex-
“We are in fact celebrating
today a combination of
scholarship, hard work,
and dedication.” –DiPiazza
Professor J. Marion Posey (l.) and Samuel A.
DiPiazza Jr., guest speaker at the Beta Alpha Psi
luncheon.
process came to a grand conclusion as the
Iota Lambda Chapter of Beta Alpha Psi was
chartered at the Pace New York City campus. Beta Alpha Psi is the national honorary
and professional accounting fraternity
based exclusively in business schools
accredited by the AACSB.
The national charter team for the honor
society’s petitioning process included
Willard Galliart, professor of accounting at
Loyola University of Chicago and national
president, and Keith Smith, professor of accounting at George Washington University
and Atlantic Coast regional director.
Galliart presided at the formal installation ceremony and the following induction
of the students and faculty into Beta Alpha
Psi. Susanne O’Callaghan of the Lubin accounting faculty was given the special designation of “Honorary Member” for her
continuing support and contribution to the
success of the petitioning chapter. As a further indication of support by the Department of Accounting, every full-time faculty
member joined the new chapter.
In welcoming the new chapter, Galliart
spoke of the Accounting Honor Society’s
pectations, but those of the National Council of Beta Alpha Psi as well. In January of
1996, the Accounting Honor Society became an official petitioning chapter of the
national fraternity, and began its first “active” semester. By May of 1996, the Society
had completed academic, professional, and
community service activities sufficient
enough to earn more points toward becoming an official chapter in one semester
than the minimum required over the entire
two-and-a-half year petitioning process.
In 1997, AHS members served on three
panels and led the student debate competition at the regional conference (Washington, D.C.), and four officers attended the
national conference (Dallas). At the Beta
Alpha Psi national awards banquet last
summer, the Pace chapter received special
recognition for meeting the requirements
for “superior chapter” status while still in
the petitioning phase. Apparently, this was
a “first” for the national fraternity!
At the 1998 regional conference, the
Pace chapter had more members in attendance than any other chapter. Tamara
Sablic, reporting secretary for the AHS,
gave an online demonstration of the Intranet reporting system in development by
the national office, for which the Pace chapter served as the beta site representing the
Atlantic Coast region. Incidentally, the
newly chartered Iota Lambda chapter will
host the next Atlantic coast regional conference in March 1999, another “first” for the
Pace team.
The Celebration
The luncheon speaker continued the
theme of recognizing extraordinary accomplishment while challenging the students to
continue to aim for even greater achieve–Continued on page 10
Current and former officers of the Iota Lambda Chapter of Beta Alpha Psi (standing left to right) Angeliki
Sialakas, David Perez, Richard Menziuso, Efstratios Ledakis, Tamara Sablic, Larry Magagna, John DeCristofaro,
Irina Abayev, Naline Thompson. Seated: Patricia Reda, Richard Chan, Sangeeta Chhugani, Suzanne Baladar.
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C L A S S
O F
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A C A D E M I C
Westchester Campuses
The Lubin School of Business held its
Annual Awards Ceremony for Westchester campuses on May 13 at the
Kessel Campus Center in Pleasantville.
Graduate Awards
Dean Arthur L. Centonze, who
addressed the audience of graduates,
faculty, and guests, opened the
ceremony.
Department and program chairs
presented Departmental and Special
Awards to those students with the highest academic average in the M.B.A.,
M.S., and combined B.B.A./M.B.A.
programs.
Clairemarie Pierantoni1 received the
Outstanding Student of the Year Award,
after which Pietrantoni addressed the
audience.
Elena N. Samouhos2 received the
New York State Society of Certified
Public Accountants Award.
Recognition also was given to the
Beta Gamma Sigma inductees and to
the baccalaureate honors graduates.
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Undergraduate Awards
Simona Kanevski3 was this year’s
recipient of the Scholastic Achievement
Award. Associate Dean James Russell,
director of undergraduate programs,
presented the award to Kanevski. She
also received the departmental Public
Accounting Award.
Jennifer M. Lenihan4 received the
New York State Society of Certified
Public Accountants Award from
Professor Patricia Healy, program chair
for undergraudate accounting. She was
also the recipient of the Lubin Alumni
Association Award.
There was a pre-commencement
reception following the ceremony for
the award winners and their guests.
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5
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W A R D
W I N N E R S
H O N O R E D
New York City Campus
The Annual Awards Ceremony for the
New York City campus was held on May 14
at the Schimmel Center for the Arts. Dean
Centonze welcomed the graduates, faculty,
and guests.
Graduate Awards
1
2
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Departmental and Special Awards were
presented to outstanding students in the
D.P.S., M.B.A., M.S., and the combined
B.B.A./M.B.A. programs by departmental
and program chairs.
Dr. Albert Widman5 was the recipient
of the Doctoral Program Award for having
achieved the highest academic average in
the Doctor of Professional Studies Program
and defending a dissertation judged to be
of the highest quality in both academic
rigor and practical application.
Professor John Dory, director of the DPS
program presented the award to Widman.
Associate Dean Peter Hoefer, director of
graduate programs, presented the Outstanding Student of the Year Award to David A.
McEvoy6, who then addressed the audience.
Kendra Lee Simes7 and Christina C.
Frankola8 were the recipients (ex-aequo) of
the Lubin Alumni Association Award. John
Gerson, B.B.A. ’69, president of the Lubin
Alumni Association, Pace trustee and Lubin
Advisory Board member, is pictured presenting the award to Simes.
Beta Gamma Sigma inductees, University honors program graduates, and
baccalaureate honors graduates also
were recognized at the ceremony.
Undergraduate Awards
Jake Zhang Hu9 was the recipient of the
Scholastic Achievement Award.
The Lubin Alumni Association Award
was presented to Tamara Sablic10. Following the presentation, Sablic addressed those
in attendance. A pre-commencement reception followed the ceremony.
Honorary Degree
8
Lubin alumnus David J. Pecker11, ’72,
president and CEO of Hachette Filipacchi
Magazines, Inc. and recently named CEO of
Grolier, Inc., received an honorary degree at
the Pace commencement at Radio City Music
Hall on May 21.
9
BETA ALPHA PSI
–Continued from page 7
ment. “We are in fact celebrating today a
combination of scholarship, hard work, and
dedication. It was the convergence of these
three things that brought us to this accomplishment,” said guest speaker Samuel A.
DiPiazza, Jr. as he addressed the audience.
DiPiazza has been a member of Beta Alpha
Psi since his undergraduate days at the
University of Alabama, where, coincidentally, he was vice president of a top ranked
chapter with the same faculty advisor now
serving the Pace chapter, J. Marion Posey.
Upon earning his M.S. in tax accounting,
summa cum laude, from the University of
Houston in 1973, DiPiazza joined Coopers
& Lybrand, LLP, where he now serves as
vice chairman for Tax Services and chairman of the committee implementing the
merger of Coopers & Lybrand, LLP, with
Price Waterhouse, LLP.
Speaking of the differences between old
economy management and new economy
entrepreneurship, DiPiazza said, “Today’s
global environments require a lot less management and a lot more entrepreneurship
and a lot more leadership. This morning
would not have happened if no one had an
entrepreneurial spirit to make something
different happen. You each showed entrepreneurial spirit to create something
where nothing previously existed.”
“With my colleagues at Beta
Alpha Psi, I discovered the
concept of teamwork.
–DiPiazza
DiPiazza pointed out the importance of
teamwork in problem solving in any organization striving to achieve growth and a
commitment to learning; “A dozen smart
people operating together will beat the genius operating alone. You built this new
chapter of Beta Alpha Psi as a team. One of
you simply could not have gotten it done.”
He further commented on the need for investment in human capital and constant
change in the new economy, remarking,
“with my colleagues at Beta Alpha Psi, I
discovered the concept of teamwork. I dis-
Learning From the Experts
n April 29, Ambassador Jorge Pinto, consulate general of Mexico for New
York, graciously agreed to meet with students in Professor Larry Bridwell’s
Government Institutions and Business Strategy class at Palengue Restaurant,
in White Plains, New York, for a dinner of authentic cuisine from Puebla prepared
under the direction of its owner, Jesus Lira. Fourteen students who took this graduate
course this semester as part of the strategic management major had a unique opportunity to explore first-hand many issues related to their studies.
As an expert, Pinto’s credentials could not be better. He led the Mexican delegation during the negotiations leading up to the Miami Summit, and has served as
Mexico’s undersecretary of state for Latin America. He has also served as the deputy
ambassador to the United States in Washington, D.C.
For two and a half hours, Pinto responded with great skill to a wide range of questions from the students about education, health care, economical banking, NAFTA,
and future political developments throughout Latin America and Mexico.
This class examines the impact of governmental institutions around the world
on business strategy. This semester, in keeping with the Summit of the Americas
attended by the presidents of 32 countries throughout the western hemisphere, held
in April in Santiago, Chile, the class studied the history and future of relationships
among North and South America. The western hemisphere accounted for 42
percent of world exports from the United States during 1997.
Bridwell said the students commented on how grateful they were to hear directly
from Pinto and how impressed they were with his in-depth knowledge of so many
wide-ranging issues. In this month of the Santiago Summit, this dinner was a
wonderful culmination to a semester of studying the history and future of North
and South America. ❖
O
10
covered lifelong learning. I saw that I
needed to continually invest in myself if I
was to compete in the new economy. I
think you have learned the lessons of the
new economy pretty well in your efforts to
establish this chapter. It prepares you well
for what is to come.”
Other speakers included Vice President
for Academic Affairs Marilyn Jaffe-Ruiz,
and Dean of the Lubin School Arthur L.
Centonze, who individually expressed
their congratulations for the accomplishments of the students and their pride in
the AHS “team.”
Officers of the newly installed Iota
Lambda chapter of Beta Alpha Psi at Pace
University include Richard Chan, president; David Perez, vice president; Tamara
Sablic, reporting and recording secretary;
and Efstratios Ledakis, treasurer. Since
most of these students are graduating, the
gavel of leadership for next year was passed
to: Efstratios Ledakis, president; Alan Chu,
vice president; Malte Dierchen, reporting
secretary; Smita Baliga, recording secretary;
and Valeriy Yusupov, treasurer. J. Marion
Posey will remain as the indispensable
faculty advisor. ❖
Marketing Students
Win Awards at
AMA Conference
The Pace University Marketing Association (PUMA) scored again at the 20th
Annual American Marketing Association Collegiate Conference held in Dallas in April. For the fourth consecutive
year PUMA won national awards at the
conference. The group won the Outstanding Chapter Planning and Outstanding Membership awards for activities during the year. Jack Nazarian,
student president of PUMA, and three
other members attended the conference with Dr. Dennis Sandler, faculty
advisor. The group built an exhibit at
the conference called “Tour the Marketing Capital of New York with Pace
University” that won Outstanding
Chapter Exhibit award for its inventiveness and originality. This was quite
an achievement considering that the
four PUMA members were competing
against delegations of over 20 students.
Crabtree & Evelyn CEO Visits Pace as Executive in Residence
Dan Silberberg shows off the Lubin cap that M.B.A. student Christina Frankola presented to him during his
Executive in Residence day on campus.
by Fred Murrell
an E. Silberberg, chief executive officer of Crabtree & Evelyn, visited the
Pleasantville and White Plains campuses on April 2 as the Lubin School’s spring
semester Executive in Residence. A dynamic
and candid speaker, Silberberg was very popular with the faculty and students. His presentations offered a unique first-hand look at
a company in the midst of reorganization.
Silberberg had a busy Residency Day at
Pace. He lectured to two B.B.A. classes —
Business Strategy and Contemporary Business Practices – at the Pleasantville campus,
spoke informally with students and faculty
at a reception, attended a second reception
in While Plains, and lectured to an enthusiastic combined group of M.B.A. management, marketing, and finance classes there.
He ended his day in a lively interaction with
Professor Warren Keegan’s marketing strategy class, where he fielded a barrage of questions from students who had been preparing
marketing strategies for Crabtree & Evelyn
as a class project.
D
Company in Need of a New Image
Crabtree & Evelyn was founded in 1970 in
Cambridge, Massachusetts, where it was
known as The Soap Box. Its initial product
line consisted mainly of toiletries and comestibles. Eventually, the company was purchased by its current owner, Kuala Lumpur
Kepong, Bhd., a Malaysian-based corporation. Along the way, the company has opened
over 250 stores in 40 countries around the
world as well as set up product distribution
through thousands of independent shops and
mail order. It has production facilities for its
toiletries, fragrances, gifts, and comestibles in
the United Kingdom, France, Switzerland,
and Woodstock, Connecticut.
In the first two decades of its existence,
Crabtree & Evelyn was a market leader in its
field. In the 1990s, however, it began to be
overrun by serious new competition from
Bath and Body Works and the Body Shops
which had “trained a whole generation of
young people to love personal care products,” said Silberberg. The owners realized
the need for new leadership and, in February of 1997, Silberberg was chosen to be the
new president and CEO, with a mandate to
reinvigorate and restructure the company.
Silberberg’s Candid Business
Discussions Win Praise of Students
During the course of the Residency Day,
Silberberg was very candid about the problem areas in his company and about the process of restructuring and revitalization that
he has embarked upon. He offered the students unique insights into certain kinds of
issues managers may face when they look at
restructuring and revitalizing a sinking business. Silberberg described in some detail his
assessment of some of the problems he
found: Crabtree & Evelyn’s sales floors were
poorly utilized, the shop entryways and merchandise displays were crowded and awkward, and the Victorian image behind many
of the products was missing key markets. He
was quick to point out though that the Crabtree & Evelyn brand name represents a uni-
versal perception of quality that he plans to
capitalize on in their advertising campaigns
by focusing on a slightly older, more sophisticated market than their competitors. He
told his audience of faculty and students that
instead of competing for market share with
companies selling at lower prices, he had
decided that the Crabtree & Evelyn image
should be sold to a new market, or rather, a
new market should be created for it.
To this end, Silberberg described the process of moving the company toward a new
identity, one that takes a broader view of the
market potential of Crabtree & Evelyn. He
said he has moved the corporate headquarters from Woodstock, Connecticut, to
Boston, and has completely overhauled and
upgraded the technological communications
facilities within the various offices of the
company. Silberberg explained that he expects this move will produce a “clean slate”
from which a new corporate culture can
emerge, one that will be more interactive
and aggressive.
The new Crabtree & Evelyn, as envisioned by Silberberg, will be much different
from the one that exists today. While some
lines of toiletries will still be sold, he said that
the total product line would expand dramatically to become a dominant global
“lifestyle” brand similar to Ralph Lauren,
Pottery Barn, or Crate & Barrel. He fascinated his audience by describing how he envisions transforming the marketing of the
product line into “retail theater.”
Silberberg’s visit gave both students and
faculty an enlightening view into a company under dramatic restructuring. His
frankness and levity about the problems
that he faces were as entertaining as they
were instructional.
A graduate of Washington & Lee University, Silberberg has held senior executive
positions in the apparel and cosmetics industries for 25 years, and has a long record of
achievements in strategic marketing, brand
management, product development, and
worldwide sourcing strategies, and he is an
expert in “supply chain optimization.”
Beginning his career in merchandise management at Levi Strauss Co. and Catalina,
Inc., he then moved on to leave his mark on
a number of other companies including St.
Albans of London, Leslie Fay Cos., Liz Claiborne, Inc. Collection division, Jones Apparel
Group, and Jordache Enterprises, Inc. Most
recently, he was an associate principal at A.T.
Kearney, Inc. before receiving the call from
Crabtree & Evelyn in February 1997. ❖
11
Executive MBA Group Explores Mix of Old World and
New in Latin America
by Jandaya Fishenfeld
ith the economic upturn for Latin
America very much in the news
these days, it was no surprise
when the decision was made to shift the International Field Study Seminar for the Executive MBA graduation class to Chile and
Argentina this year. In previous years the
field study groups have gone to Europe and
Asia, so this was a first. The recent freetrade organization of MERCOSUR linking
Argentina, Brazil, Chile, Paraguay, and
Uruguay, and trade agreements Latin
American countries have made with the European Union countries, as well as with
other parts of the world, have been very
beneficial to their individual economies and
have focused a great deal of interest on how
they do business.
Thus, the Executive MBA class of 1998
traveled to Latin America this past May as
part of their International Field Study Seminar class. Professor James Parker, director
of the Executive MBA Program, and Management Professor Lawrence Bridwell accompanied the students on their eight-day
tour of Chile and Argentina. According to
Bridwell, the academic leader of the group,
“The major educational objective of the
field trip was for the Executive MBA class to
see first-hand the dynamics of free trade
and its potential impact on developing
countries.” Myrna Bush, the former director of the Executive MBA program, organized the trip and accompanied the group
as interpreter.
W
culture to create award-winning ads” which
the group saw during their visit. “They have
a beautiful, most modern building that was
designed specifically for PROLAM in a new
industrial section of Santiago,” commented
Parker in talking about some of the highlights of their visit to Santiago. He further
remarked, “we also had a wonderful reception from our host school, Universidad del
Pacifico, where we met with the rector and
attended a panel discussion with the
Chilean Minister of Education and the Minister of Health.” Their last night in Santiago,
Universidad del Pacifico also hosted the Lubin group at a dinner in a local restaurant
where they were joined by faculty and students of the university.
Buenos Aires, Argentina
Arriving in Buenos Aires on a Saturday
night, the group had an evening on the
town and a “free day” on Sunday. Many
took this opportunity to pursue individual
excursions and visits in and around the city.
“I was very interested in seeing the countryside. I took a boat trip up the river and got
to see some of the suburban homes along
the river,” said William Vinicombe, an
EMBA student and an associate director of
Bell Atlantic in New York City.
Monday morning began a busy few days
of site visits and meetings in Buenos Aires.
The first event was a presentation by the
Argentine Secretary of State on International Economics Relations followed by a
tour of the Union Bank of Switzerland. The
tour and luncheon, featuring a marvelous
presentation by Dr. Roberto Alemann, former Argentine ambassador to the United
States, was arranged by Roland Kiser, an
EMBA student on the trip who is an executive with the Union Bank of Switzerland in
New York City. Following the luncheon,
the group attended a presentation by Swiss
RE, which was arranged by EMBA student
Francis Tricamo, who currently works with
the company.
Other highlights of the Buenos Aries
stop included a tour of the Bolsa de Comercio de Buenos (Stock Exchange) and a presentation and plant tour of BestFoods International, which produces Hellmann’s Mayonnaise, among other products. While
there, the management told the group that
Argentine and Uruguayan factories had
been reorganized to serve larger regional
markets, resulting in significant productivity increases.
“We were fortunate to observe how privatization of telephone companies in Argentina had replaced a system where it took
years to simply get a telephone line to new
technology creating a modern customer call
center at IBM-Argentina,” said Bridwell in
talking about a presentation the group was
–Continued on page 14
Santiago, Chile
The trip began on May 7, as the group
arrived in Santiago, Chile. There they
toured the manufacturing plant of Garden
House, an entrepreneurial venture started
10 years ago by a young man and his wife in
their kitchen, that has now cornered the
market of nutritional supplements and vitamins in South America. The group then
traveled 90 miles south of Santiago to the
historical Hacienda Los Lingues, which was
built in 1658 and is famous for its breeding
and training of horses.
On the second day of their stay in Santiago, the group attended a presentation at
PROLAM, the leading advertising agency in
Chile, which is affiliated with Young and
Rubicam in New York. Bridwell talked admiringly of PROLAM’s “state-of-the art
computer images combined with Chilean
12
A group of the Executive MBA students enjoy a night out at a Buenos Aries tango club with Professor James
Parker, director, third from the right.
P
R
O
F
I
L
E
Dr. Robert F. Dennehy, Professor of Management and Chair, Undergraduate
Management Program
by Jandaya Fishenfeld
rofessor Robert F. Dennehy’s interest
in the behavioral sciences initiated an
ongoing exploration of cultural diversity and workplace storytelling that has
formed the basis of his teaching philosophy
and provided a direction for much of his
research. Over the years he has also been a
visiting teacher and consultant in Japan,
Ireland, England, Germany, France, and the
Netherlands. This has given him valuable
insights into the enormous diversity in how
people around the world conduct their
businesses and manage their affairs.
Dennehy, who received his Ph.D. in
counseling psychology from New York
University, joined the faculty of Pace University in 1978 as coordinator of the Human
Relations Practicum in the Dyson College
of Arts and Sciences. He taught psychology
fieldwork courses that focused on a variety
of human relations issues. Consequently,
when he moved over to the Lubin School
of Business to teach human resources and
organizational behavior in the Management
Department, he found the transition a
smooth one.
P
management conference held at the base of
Mt. Fuji, the most revered mountain in
Japan. “You really felt as though you were
at the soul of Japan there at Yamanakako,
which translates to ‘lake within the mountains.’ Standing at the lake shore with the
mountains surrounding me, the sense of
the Japanese came through to me quite
powerfully,” he explains.
the story flows as tension is built and a climax
is reached. Dennehy says he provides his
students with examples and models from
his own research, and gives them a format
to work from. By organizing them into
teams, Dennehy provides the students with
some group dynamics, allowing them to
practice and work with someone else. After
each presentation, the other students in the
class are asked to provide feedback on the
content and quality of the storytelling. “The
students will get my feedback, but their
peers’ feedback is very powerful as well.
This is a very strong teaching tool that I really feel very committed to, and one that
has had an impact on both undergraduate
and graduate students.”
Recognizing that every organization has
a story to tell that defines its history and culture, Dennehy attempts in his research to
understand and analyze how stories of the
past influence the path that an organization
will take. He says the workplace stories that
are told and the ones that are suppressed or
manipulated in some way tend to define the
image of an organization. “It is often said
that a good leader is a good storyteller; storytelling really becomes a vehicle for not
only looking at present operations, but also
to set goals, visions, and objectives for the
future via scenarios and not just facts.”
Dennehy acknowledges the influential
impact of Japanese management practices
throughout the world. “The Japanese influence is something that I probably couldn’t
appreciate unless I had been there as often
and visited the places I had.”
Honors and Publications
Influence of Japan
Cultural awareness in the classroom is
an issue that Dennehy emphasizes to his
students to enrich their understanding of
and respect for the diversity of human behavior, particularly as it applies to business
practices. He readily acknowledges that his
interest in cultural diversity evolved from
his desire to more fully understand
Japanese management practices, which
have been a topic of keen interest to American management practitioners and teachers. “I realized that to understand Japanese
management practices I really needed to
have some understanding of the language,
how the language is a vehicle for the
thought process. I took a course in
Japanese, and made a number of visits
to Japan.”
Crediting those visits to Japan as having
had a powerful impact on his professional
and personal life, Dennehy says his experiences there presented him with new perspectives on Japanese culture and influence.
For example, he described his impressions
when he had the opportunity to attend a
Workplace Storytelling
Another part of Dennehy’s teaching philosophy is the concept of storytelling. As a
teaching tool, Dennehy says he uses the
simple, yet powerful notion of storytelling
in all his classes by requiring students to
prepare and recount an organizational
story to the class. Although this involves
many of the same processes as writing a
case study and making a business presentation, as students must research their topics
and orally present them to the class, he says
storytelling adds the dimension of narrative
to engage the audience. Students must set
the stage, introduce the characters, and
communicate the plot in such a way that
Among the honors Dennehy has received in his profession, one of his most
prized is the Innovation in Teaching Award
for a program that he designed with Professor Betty Torrance of the Modern Languages and Cultures Department in the
Dyson College: Developing Cultural Awareness: A Team-Taught Approach. This project was sponsored with a grant from the
Middle Atlantic Association of Colleges of
Business Administration.
Dennehy has a rich inventory of over 15
articles that have been published in refereed
journals. Most recently he co-authored
“Restorying Reengineering: Some Deconstructions and Postmodern Alternatives,”
Communication Research 24, no. 6, 1997,
and “The Power of Organizational Storytelling: A Management Development
Perspective,” Journal of Management
Development 16, no. 7, 1997.
–Continued on page 14
13
F A C U L T Y
N O T E S
Stephen Blank , Management/International Business, spoke at the 1998
Annual Conference of New England
Governors and Eastern Canadian
Premiers on April 24 in Montreal. He
spoke on the subject of how to develop business networks and strategic
alliances in the Northeastern context.
Philip M. Finn, Accounting, was a
panelist at the Annual Accounting
Standards Conference of the New
York Society of Security Analysts at
the World Trade Center on June 5.
Finn presenterd and discussed International Accounting Standards and
their counterpart U.S. Standards.
Joseph A. Russo, Jr. , Accounting,
had a paper titled “Learning During
Audit Tasks in the Field: A Model,
Methodology, and Experiment” published in the November 1997 issue of
International Advances in Economic
Research. He also presented a paper,
“Assessments of Progress Toward
More Expert-Like Behavior While
Performing Audit Tasks in the Field”
at the International Conference of the
Atlantic Economic Society, held in
Rome, Italy, on March 14-21, 1998.
PROFILE
–Continued from page 13
A well-know speaker at professional
meetings and conferences, Dennehy has
made over 75 presentations on cultural diversity, international management, team
teaching, and workplace storytelling over
the years. In addition, he is the author of
two books on cultural diversity and management practices: Managing in the Postmodern World (Kendall/Hunt, 1993) and
Diversity and Differences in Organizations
(Greenwood, 1993).
As if his explorations into other cultures
were not enough to enrich and enliven his
teaching and research, Dennehy’s experience as an international organizational
consultant and corporate trainer for such
firms as IBM, General Electric, and Prodigy
serves to further enhance his teaching
strategies.
EXECUTIVE MBA
A Family Affair
–Continued from page 12
Sharing his interest in Japanese culture
and influence is Dennehy’s daughter, Kristine, currently a Ph.D. candidate in Asian
history at UCLA. She took the initial course
in Japanese with her father some 16 years
given at the IBM Call Center and Customer
Care Center.
The trip ended with a visit to the consulting firm of McKinsey & Company, where
the group attended a comprehensive presentation covering a variety of topics concerning the South American economy including an economic overview of Argentina;
telecommunications in Argentina and
neighboring countries; banking and insurance in Argentina, Chile, and Brazil; and
health care in Argentina and Chile. Before
departing for the United States that evening,
the group again was given the opportunity
to pursue their individual interests in and
around the city of Buenos Aires.
The trip proved to be most enlightening
for everybody involved. EMBA student
Lindsay Farrell, director of the Open Door
Family Medical Group, observed, “the trip
was a wonderful opportunity for the EMBA
class to bond because we worked so hard all
year, so it was a really nice time to be in a
different setting.” Commenting on the balance between culture and business in Latin
America, EMBA student William Vinicombe remarked, “one of the things I
found most interesting was the mix between the modern world and the old world.
To see that in every way, in culture, in business, in the infrastructure of the cities, the
wonderful mix going on was very interesting to observe.”
The EMBA class attended lectures on
Latin America before embarking on the
trip, and will write a field study paper to
complete the course. ❖
Kathy Winsted , Marketing, will be
presenting her paper, “The Service
Drama: Service Behaviors That Lead
to Satisfied Customers,” at the 1998
American Marketing Association
Summer Educators’ Conference in
Boston. An abstract of the paper will
be published in the conference proceedings. Winsted will also be chairing a session at the conference. ❖
COR R E C T ION
Announcing a New
Feature: Alumni Profile
Look for a new feature article in the fall issue of the Lubin Letter: the Alumni Profile.
The first profile will be on Ivan Seidenberg,
’81, the newly appointed vice chairman,
president, and chief executive officer, as
well as chairman-designate of Bell Atlantic.
Seidenberg previously was chairman and
CEO of NYNEX. Through his leadership,
NYNEX had a significant turnaround before merging with Bell Atlantic.
14
ago. “Both of us realized that we had some
common interests, so one of the proud moments for me was working with her this past
April as we made a joint presentation at a
professional conference in San Francisco.”
A keen interest in human behavior and
diversity issues runs in the Dennehy family.
His other daughter, Ann, has spent the past
two and a half years teaching English as a
second language to students in Indonesia,
and his wife Judi is the Youth Minister at
their church in Norwalk, Connecticut. To
complete the circle, his son Neil received his
B.A this past May from Southern Connecticut State University, where his senior project on faculty perceptions of students with
learning disabilities reflects the interest in
diversity in the classroom that he shares
with his father. ❖
Bradley R. Aronstam, who received the
Management Departmental Award at the
Westchester Awards ceremony, is pictured
speaking to the invited guests. Mr. Aronstam
also received the Trustees Award and was
named an alternate for the N.Y. Benedict
Fellowship from Alpha Chi, which carries a
$2500 stipend for the first year of graduate
or professional studies, only one of ten such
fellowships and four alternates awarded this
year. Mr. Aronstam’s name was misspelled
in the Lubin Letter (spring issue) article
about his “Best Delegate” honor at the
Montreal UN Competition.
L
U
B
I
N
The Financial Times
An article in the April 20 edition of The
Financial Times examined enrollment inequality between men and women in top
M.B.A. programs. In the article, Lubin
School Dean Arthur L. Centonze was
quoted in relation to the appeal Lubin’s
program has for women. He said, “We are
pleased we are able to attract many of the
best and brightest women to our M.B.A.
program. Our female enrollment in the
Lubin School has risen by 11 percent in the
last four years.” He attributed this success
to Lubin’s innovative curriculum that was
fine-tuned four years ago to incorporate a
more global focus to business, a comprehensive approach to technology and management processes, including negotiating,
decision-making, and people management
skills. “We teach teamwork and collaboration as methods to reach solutions.”
The article suggested that one reason
for a low enrollment of women in some
M.B.A. programs could be that most
M.B.A. programs have relatively few
women faculty members and therefore a
lack of role models for women students.
Anisha Sanghavi, a Lubin M.B.A. student,
was quoted in relation to this and said that
at Lubin, “Having a lot of female professors around makes a huge difference to
women students’ self-confidence.”
New York Times
As the yen continues its downward
trend, Japan is confronted with troublesome decisions. A June 11 article in The
New York Times, consulted several veteran
Japan-watchers to speculate on how the
Japanese government might act to reverse
the nation’s economic slide. One such veteran was Robert H. Parks, finance professor, and a Wall Street economist. Dr.
Parks argues that, “Japan must stimulate
its economy by cutting taxes and spending
more on public works projects that are not
boondoggles. And the central bank must
finance these projects with money fresh off
the printing press. If the bank did not create new money and instead sold debt to
pay for the projects, it would merely sop
up funds that might otherwise go to investment or consumption.” Mr. Parks also
suggest that therein lies a Scylla and
Charybdis aspect of the Japanese situation.
“If the Government were to let the budget
deficit run bigger than this year’s estimated 3.8 percent of the gross domestic
I
N
T
H
product, the yen’s value will fall. If the
Government did nothing, it would fall as
well. The yen is tumbling either way.
There’s no bottom to a currency in the
middle of depression.” On June 15 Professor Parks was also interviewed by NHK
Japan Broadcasting Company about the
Japanese depression.
Newsday
The subject of childcare is in the news
every day as companies scramble to meet
the needs of their employees and stay competitive. An article in the Queens edition of
Newsday, April 13, cited a number of benefits employers realize when they subsidize
childcare for their employees including increased morale, loyalty, and motivation.
Frieda Reitman, management professor
emerita in residence, was quoted as saying,
“Women are more likely to return [to their
jobs] after childbirth if the company has
some sort of childcare provision.”
Investor’s Business Daily
An article featured in the May 26 edition
of the Investor’s Business Daily posed a
question on whether or not “recession is always inevitable.” An expert on the Austrian
school of thought, Joseph Salerno, economics and finance professor, gave his
views on the subject: “An expanded money
supply and artificially low interest rate leads
firms to expand their investments. As their
interest rates rise to their normal levels,
some of these investments become foolish
and the economy shrinks.” The article concludes that whether you are a monetarist or
an Austrian school adherent, the key in
predicting booms and busts is the money
supply.
The Credit Union Journal
An article on the comparative analysis
of bank vs. credit union profitability appeared in the April 8, 1998 issue of The
Credit Union Journal. The article, co-authored by Drs. Raymond H. Lopez and
Surendra K. Kaushik, Finance, gave a critical competitive analysis of credit unions
and commercial banks in the 1990s. The
analysis showed that the profitability and
performance of credit unions is similar to
that of the commercial banking industry,
even though the latter is 15 times larger.
Professor Lopez was also interviewed on
this subject by Bloomberg News.
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The San Diego Union-Tribune
A recent study conducted by Professor
Peter Allen, Management, found that contingent workers are just as motivated as permanent employees are. In fact, contingent
workers scored higher than permanent
workers in self-motivation, ability to identify tasks and provide job feedback, and as
being more likely to respond to challenges.
According to Allen, “Far from being less
committed, less skillful than core employees, contingent workers frequently scored
higher in some areas of this survey. Management should not overlook the potential
of these workers. Despite lacking job security and other benefits, they certainly have
the motivation to function productively.”
The study was mentioned and Allen was
quoted in the April 6 edition of The San
Diego Union-Tribune.
The Reporter Dispatch
An article in the June 2 edition of The
Reporter Dispatch discussed contract negotiation between Bell Atlantic and its major
labor union, the Communications Workers
of America (CWA). The CWA’s contract
expires in August and the organization is
seeking a two-year contract extension. Also
on CWA’s agenda are pension improvements and wage gains to reflect the surging
growth of the industry. Law professor
William LeMoult, who has negotiated
many labor contracts, is quoted as saying
“it is impossible to know what is going on
behind closed doors. These are very hard
things to determine unless you’re on the inside, but we can all speculate.”
Accounting Today
Alan Tucker, Finance, was mentioned
in a June 22 Accounting Today article about
the new rules for derivatives passed by the
Financial Accounting Standards Boards or
the FASB. In the article, Dr. Tucker notes,
“You can’t value an option at historical
cost when it has zero value at inception.
You can’t even decide whether it’s an asset
or a liability using the traditional accounting model.”
NEWS 12 Westchester
In May, finance professor Ronald Filante
was questioned by cable TV NEWS 12
Westchester as to the reasons for that day’s
stock market retreat. He predicted that “the
market would continue to advance until and
unless interest rates rose dramatically.” ❖
15
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