Leland Awarded $100,000 Financial Economics Prize

Hayne Leland

Haas School Finance Professor Hayne Leland has been awarded the first-ever Stephen A. Ross Prize from the Foundation for the Advancement of Research in Financial Economics (FARFE) for his research in corporate debt pricing and capital structure.

The foundation, a global consortium of finance academics and practitioners, created the $100,000 prize last year to recognize and encourage research in financial economics -- a field that explains the underpinnings of corporate finance and capital markets.

Leland won the award for his 1994 Journal of Finance paper, "Corporate Debt Value, Bond Covenants, and Optimal Capital Structure." Leland's paper, selected from a pool of 350 articles, analyzed how firms determine the optimal mix of debt and equity to acquire funding at the lowest cost.

"Just as mathematics has the Fields Medal, finance research now has the Ross Prize to recognize the pioneering discoveries in financial economics," says Haas School Dean Rich Lyons, also a professor of finance. "I couldn't think of a more deserving individual to be honored with the first Stephen A. Ross Prize than my colleague Professor Hayne Leland."

Andrew Carron, president of NERA Economic Consulting and one of the founding members of FARFE, adds: "'Financial economics is an area that is critical to our understanding of complex capital systems and how they work; the recent global financial turmoil has made advancing this understanding especially important."

Leland's 1994 paper analyzed how firms determine the optimal mix of debt and stock ("equity") to acquire funds at the lowest cost. The optimal use of debt, or "leverage," balances tax advantages with potential default costs. The analysis suggests, for example, that startup firms should use relatively little debt financing, whereas mature firms with stable cash flows can benefit from substantial leverage.

Leland, who has been teaching at the Haas School since 1974, also examined the determinants of debt value and default. Subsequent research has built on the analysis and insights of this paper to examine how firms adjust the mix of debt and equity over time and how this affects pricing in financial markets. Other extensions include analyzing the interaction between leverage and investment, and the value of corporate risk management.

"I was surprised and delighted to be the first recipient of the Ross prize," says Leland. "Steve Ross is truly one of the brilliant minds in financial economics. His contributions not only have provided remarkable insights into asset pricing and economic behavior, but also have had a profound impact on financial practice. I am also enthusiastic about the creation of FARFE and its mission to encourage research in finance."

The Ross prize will be awarded biennually for research published in the previous fifteen years that significantly contributed to the understanding of financial economics. For more details about the award-winning paper, the Ross Prize, and FARFE, see http://farfe.org. For more information about Leland, visit http://www.haas.berkeley.edu/faculty/leland.html.

Wilcox to Delve Into Obamanomics at Alumni Event, Jan. 21

Jim Wilcox

Gain new insights into the economic recession and what the future holds at a talk with Haas Professor Jim Wilcox titled "Obamanomics: Opportunities and Challenges for the New Administration" on Jan. 21 in Alamo, Calif.

The talk, on President Barack Obama's first day in office, is part of the fifth annual Haas Celebration in the East Bay. Wilcox, the J. J. and M. B. Lowrey Professor of Business, will discuss the unprecedented challenges facing Obama and the myriad options his administration will likely utilize to jump-start the economy.

Wilcox also will share his expertise as he explores the president's economic stimulus package, the potential for more industry bailouts, and the administration's approach to taxes and additional regulations.

Wilcox previously served as a senior economist for the President's Council of Economic Advisers and an economist at the Federal Reserve Board. He has written extensively on banking, real estate markets, interest rates, and inflation.

The event will be held at the Round Hill Country Club in Alamo. A reception with gourmet food and drinks will begin at 6 p.m., followed by the conversation with Wilcox from 7:15 p.m. to 8:30 p.m. Registration is $20 for students and $50 for alumni and guests. The event is expected to sell out, so register at www.haas.berkeley.edu/alumni/eb. For more information contact the Haas Alumni Relations Office at http://www.haas.berkeley.edu/groups/alumni or 510-642-7790.

Teece Leaves Institute, Takes New UC Role

David Teece

Professor David Teece has stepped down as director of the Institute of Management, Innovation, and Organization (IMIO) and accepted an appointment to the University of California system-wide Board on Science and Technology.

Teece, who holds the Thomas W. Tusher Chair in Global Business, became director of the Center for Research in Management, IMIO's predecessor, in 1983. The center received institute status in 1994.

The mission of IMIO has been to promote and facilitate interdisciplinary research on management, organization, policy, and technology.

"The study of innovation and organizations has animated my own research, and it has been delightful for me to leverage my interests and energy into programs and resources that have supported so many of our students and faculty," says Teece, who continues to hold his Haas professorship. "I am now looking forward to seeing what I can do to help on these issues at a system-wide level working with UC President Mark Yudof."

The UC Board on Science and Technology is the primary link between the Office of the UC President and industry on strategic issues related to education, science, and technology at the state, national, and global levels. A search for a new director for IMIO is underway.

During Teece's tenure, IMIO's annual revenue grew from $150,000 to $8 million. Teece directly raised more than $15 million in endowments from such organizations as the Tokyo Foundation, Xerox, and Hewlett-Packard. The newly funded Garwood Center on the Management of Technology has over $4 million in endowment to support research, visitors, and students.

Teece also launched UC Berkeley's interdisciplinary Management of Technology (MOT) Program, created several new centers, organized countless seminars and conferences, and founded the academic journal Industrial and Corporate Change (published by Oxford University Press). In addition to Garwood, other centers created within IMIO during Teece's watch include the Lester Center for Entrepreneurship and Innovation, the Center for Open Innovation, the Blum Center for Developing Economies, the Center for Research in Telecommunications Policy, the Center for Research on Chinese and American Strategic Cooperation, and the Fisher Center for Information Technology.

Teece also has served as faculty director of the Center for Global Strategy and Governance for the past two years.

"David Teece founded and built IMIO and the supporting network of management research at Haas," says Dean Rich Lyons. "His work has had a major impact on students while also playing an enormous role within his field through new ideas about everything from technology management to intellectual property.

"IMIO and all it includes have become the central instrument for executing on our Leading Through Innovation strategy. We are deeply grateful for all that David accomplished during his tenure in that role," Lyons adds.

The MOT Program, a joint program between Haas and the College of Engineering, is one of Teece's significant accomplishments. Teece provided the intellectual vision and the initiative for the program and secured Sloan Foundation funding for it over a six-year period.

He also oversaw the launch of the UC Berkeley-St. Petersburg School of Management cooperative effort. With Haas guidance, the new business school in St. Petersburg, Russia, has grown from an idea to an institution with more than 2,000 students, and in recent years has become a presidential project championed by Vladimir Putin.

Teece also raised significant endowment funds for graduate students, including the Peter T. Jones Fellowships, awarded to outstanding graduate students and visiting faculty at Berkeley whose studies and research embrace matters that impact global understanding and economic development at home and abroad. The LECG Founders Fellowships support newly entering graduate students in the Haas School and Berkeley Department of Economics who intend to specialize in industrial organization, regulation, or public policy.

For more on Teece, visit http://www.haas.berkeley.edu/faculty/teece.html.

Spring Semester Features New Courses on Clean Tech, Startups, Social Impact

Haas School students will journey through various industries in the startup world, work on a live clean tech case project, and learn how to achieve social impact, all through new electives offered this semester.

Full-time MBA students will focus on implementing a network for electric automobiles in the Bay Area through a new MOT core course titled Technology, Innovation and Leadership (MBA 290T.5). Working with Palo Alto-based Better Place on a live case project, student teams will explore how an electric car paradigm will develop into an ecosystem of new firms.

Better Place is working to replace gasoline-based transportation with an electric re-charge network. The Bay Area, along with Israel, Denmark, Australia, and Hawaii, have committed to deploying such networks. Ikhlaq Sidu, co-chair of the MOT Program and adjunct professor in Industrial Engineering and Operations Research, teaches the course.

Design as a Competitive Strategy (MBA 290D) is a new course that prepares students to systematically create innovative solutions to business problems using design thinking. The full-time MBA course, cross-listed with the College of Engineering and the School of Information as part of the Management of Technology (MOT) Program, recognizes design as a key differentiator in the face of increasing globalization and technological advancement. Lecturer Jon Pittman, vice president of market development for Autodesk, serves as the instructor.

Another new offering in the Full-time MBA Program is Achieving Social Impact (MBA 292N), which explores the importance of building strategic networks beyond a nonprofit's own organizational boundaries. Jane Wei-Skillern, a visiting assistant professor formerly with Harvard Business School, is teaching the course. "Impact is the goal of the social sector, and we are fortunate to offer this brand new course designed and taught by such a gifted teacher," says Nora Silver, director of the Center for Nonprofit and Public Leadership.

Evening and weekend MBA and full-time MBA students in the new course titled The Startup Roadmap: Insight by Vertical Markets will study with Lecturer Steve Blank to survey such vertical markets as Web 2.0, enterprise software and hardware, and medical devices. From these surveys, students will glean lessons about opportunity, sales, regulatory issues, and other startup functions.

Haas School undergraduate students have four new electives from which to choose this spring, including Family Business Management (UGBA 196-3), taught by Lecturer Kenneth Preston, who offered the course to MBA students in the fall for the first time. Students will gain information that helps them decide whether or not to join a family business, as well as skills in managing a family business and in working with family businesses as consulting or wealth management clients.

New courses for undergraduate students also include Analytic Decision Modeling Using Spreadsheets (UGBA 147), taught by Associate Professor Terrence Hendershott; Sports Marketing (UGBA 167), with Mike Rielly, a veteran of the sports business; and Innovation and Entrepreneurship in Information Technology (UGBA 196-6), taught by Lecturer Reza Moazzami.

"Special topics courses allow students to delve deeper into their specific areas of interest within the major and also introduces them to concepts that they will likely deal with upon entering the workforce," says Erika Walker, executive director of the Undergraduate Program.

eBay Marketplaces President to Address Berkeley-Columbia Commencement

Lorrie Norrington

Lorrie Norrington, newly appointed president of eBay Marketplaces and one of Fortune magazine's 2008 "50 Most Powerful Women in Business" , will deliver the commencement address at the Berkeley-Columbia Executive MBA graduation ceremony on Feb. 1.

In her role as president of eBay Marketplaces, Norrington is responsible for a global network of sites that in 2007 contributed about 70 percent of eBay Inc.'s total revenue of nearly $7.7 billion. Previously, she oversaw eBay's North America business unit, global technology, and global customer services as head of Marketplace Operations, a position she assumed in January 2008. She has also served as president of eBay International and chief executive officer of Shopping.com, and spent many years in management roles at Intuit and General Electric. Norrington holds a BS in business administration from the University of Maryland and an MBA from the Harvard Business School.

Members of the class, the sixth for the Berkeley-Columbia program, came from as far away as Sweden, China, and India to attend the intense 19-month program. Students work at a diverse range of institutions, including Microsoft, Lawrence Livermore National Laboratory, Accenture, and Wells Fargo.

The ceremony at Wheeler Hall auditorium on the UC Berkeley campus begins at 10:00 a.m. and will be followed by a reception at 11:30 a.m. outside the auditorium. The graduates are also invited to take part in Haas School MBA commencement ceremonies on May 17 and Columbia University's commencement on May 20.

Research Spotlight: Kellie McElhaney Connects CSR and Brand in New Book

Kellie McElhaney

After helping more than 150 companies develop corporate social responsibility (CSR) strategies, Kellie McElhaney, founder of the Haas Center for Responsible Business, decided to encapsulate her advice in a new book, Just Good Business: The Strategic Guide To Aligning Corporate Responsibility and Brand (Berrett-Koehler Publishers).

"I hope this book inspires business leaders. You read news stories about companies' greed and lack of contribution to society. I wanted some balance out there," McElhaney says. "Some companies are doing wonderful things, but there is no textbook."

In a recent interview with Pamela Tom, Haas School Marketing & Communications, McElhaney shared some highlights from her book.

You believed writing this book was important. Why?

It was time for a book not just about developing effective strategies, but about teaching companies how to talk about their corporate social responsibilities, their CSR story.

Fifteen years ago we never heard of "corporate responsibility." What does it mean today?

A strategy that is aligned with companies' core competencies and helps solve some of the world's most intractable problems.

How does a company strategically implement CSR?

An example in the book is the partnership between eBay and World of Good, started by Priya Haji, a Haas graduate (MBA 03). World of Good brings artwork from Haiti or necklaces from Africa to buyers in the developed world, paying a fair wage to the product's producer. eBay decided to sell the products for World of Good after realizing one of its objectives is to create new markets.

How do companies ensure the element of "doing good"' doesn't get lost in the shuffle?

We tend to think the person in Africa should benefit first and eBay shouldn't benefit at all. My premise is the company has to benefit because that's how the company exists.

Your book talks about seven principles for developing an effective CSR strategy.

First, know your company. Take eBay. What are its objectives besides growth or increasing sales? eBay was experiencing over 80 percent employee turnover. Their CSR strategy needed to address the fact they're only going to grow so much if they didn't solve the problem of retaining employees. Creating new markets answered both objectives.

The second rule is determining core competencies. eBay was focused on climate change but is not a heavy environmental carbon user or emitter. They needed a better fit. Pick a cause for which you actually own part of the solution.

The third principle is be consistent. Stick with a strategy for multiple years. Communicate consistently. One example of a company that didn't follow that strategy is Nike. Nike's advertising is fierce and edgy. However, around their supply chain or corporate responsibility, they use a different set of brand attributes: soft, smiling people.

The fourth principle is "simplify."

Nobody reads 90-page CSR reports. Pedigree has a partnership with the SPCA around pet adoption, and their message is brilliantly simple: "Help us help dogs."

Working from the inside out is the fifth rule.

Companies tend to communicate externally first. Dow employees had no idea about a water purification system created by their company for the developing world. Dow could have 156,000 brand ambassadors by talking about it internally first.

The sixth rule is know your customer. For most companies, women control upwards of 80 percent of the purse strings, and they are much more likely to purchase a product if they know that a percentage of that profit is earmarked towards a cause they care about. Customers between the age of 8 and 28 are also incredibly cause-focused.

The last CSR rule comes back to telling a story.

I begin each chapter with a company story. We work in a business school around numbers and facts. Research suggests stories trump facts ten times out of ten.

How do you measure success and its evolution?

Pick three good metrics: measure the company, the society, and the employees. For example, eBay measured growth, employee satisfaction, and the economic development of the artists.

Can you give us another example?

HP (Hewlett-Packard) was in India, where crop blight could destroy an entire food source. HP developed a solar-powered digital camera. Farmers could take a picture of the blighted leaf, go to a village kiosk set up by HP, and send a picture of the leaf to the UC Davis botany lab. Scientists could look at the leaf and say, "Too much alkaline in your soil. Here's how you treat it." The farmer could treat the crop and save people's lives.

How do you think your book will influence your students?

This generation is going to carry us ahead in a much more sustainable fashion. They just get this. They understand the power companies have on creating a better world.

For more on McElhaney, visit http://www.haas.berkeley.edu/faculty/mcelhaney.html.

Khan Yow, MBA 10, Wins Case Challenge in Beijing

Berkeley MBA student Khan Yow, MBA 10, and a team of seven students from top international business schools won first place at the inaugural Firenze|China East-West MBA All-Star Case Challenge in Beijing Jan. 6.

Yow and his team members won a $20,000 case prize and $10,000 in additional funding to implement their winning campaign, titled "Yes, I Will," which allows mobile phone users to post ideas for resolving global problems.

Sponsored by Microsoft and the Cheung Kong Graduate School of Business in Beijing, the competition was split into "compete" and "collaborate" phases and challenged teams to devise a mobile solution or service and design a viral marketing campaign to target 5 million mobile users. Marking strategies were required to promote either Microsoft's Imagine Cup, an event encouraging young people to make a difference in the world by conceptualizing technology innovations, or DreamSpark, a program offering free development and design software to college student worldwide.

During the compete phase, Yow and fellow Haas students Janne Huang, MBA 09, and Karan Dua and Thaili Chi, both MBA 10, faced off against 15 teams representing a dozen universities from China, Singapore, South Korea, and the United States. In the following collaborate phase, the teams were shuffled to form eight new teams, with members from different schools. Those teams were given 24 hours to develop a new solution that addressed the same case scenario and could be implemented with a $10,000 budget.

Yow and his team's "Yes, I Will" campaign impressed judges with a simple yet elegant plan to leverage Microsoft and its partners' resources to inspire the current generation to impact change. "It was a great opportunity to not only compete against but also get to know other MBA students from other top schools," Yow says. "This competition forced us to operate across cultures, nationalities, and backgrounds to get a task completed."

Ding Awarded Kauffman Entrepreneurship Fellowship

Waverly Ding

Haas Assistant Professor of Organizational Behavior Waverly Ding was awarded the highly competitive Kauffman Junior Faculty Fellowship in Entrepreneurship Research from the Ewing Marion Kauffman Foundation. Only five fellowships of its kind will be awarded nationwide this year.

This annual program recognizes junior faculty who are beginning to establish a record of scholarship and exhibit the potential to make significant contributions to the body of research in the field of entrepreneurship. UC Berkeley will receive a grant of $50,000 over two years to support the research activities of Ding.

Ding, who also won a Schwabacher award in December, examines issues related to entrepreneurship, innovation, technology strategy, and strategic alliances. A member of the Haas Organizational Behavior and Industrial Relations Group, Ding has explored the sociology of the sciences, examining important issues such as when scientists become entrepreneurs and gender differences in patenting in the life sciences. Ding earned her Ph.D. in business from the University of Chicago and joined the Haas faculty in 2004.

For more on Ding, visit http://www.haas.berkeley.edu/faculty/ding.html.

Competition to Take on Nation's Toughest School System

Ten teams from top MBA programs around the country will set their sights on the public schools in Washington, DC - ground zero for public education reform under the leadership of DC Chancellor Michelle Rhee - in the third annual Education Leadership Case Competition.

Final presentations of the case, "DC Public Schools: The Pursuit of Excellence in the Nation's Capital," will be held from 8:30 a.m. to 5:00 p.m. Feb. 21 in the Wells Fargo Room. The awards ceremony, open to the Haas community, will begin at 6:00 p.m., followed by a reception.

Organized by the Haas Education Club, the competition challenges MBA and other graduate students to create potential solutions to a real-time, critical issue in public education.

The field includes teams from Columbia, Georgetown, Kellogg, Stern, Stanford, Yale, and Haas. The four-member teams are primarily composed of MBA students, but several also include students in public policy, education, or dual-degree programs.

The case asks students to tackle a district that until recently had been considered the nation's worst. In 2007, Mayor Adrian Fenty took control of the schools and hired Rhee, giving her almost unfettered power over the district. Since then, she has embarked on a take-no-prisoners reform effort that is being closely watched by education reformers nationwide.

Past cases have focused on the Oakland and New Orleans schools, and many of the student's recommendations have been adopted.

This year's competition is sponsored by the Broad Foundation, Teach for America and The Mind Trust. For more information, see http://groups.haas.berkeley.edu/education/ELCC.

Students Learn on the Road Over Winter Break

Haas students jetted to Beijing, Brazil, and Bollywood this winter, leaving the classroom behind to see global business in action.

This year's winter trips ranged from the traditional, like the Finance Club's annual Wall Street Trek, to the more far-flung, such as seminars in the growing economic powerhouses Brazil and India.

Israel Trek 2009, a January trip organized by the Jewish Business Club, was devoted to understanding the country's cultural, religious, and business culture. During the 11-day excursion, students got a high-level view of the Middle East, with meetings scheduled with President Shimon Peres, former Prime Minister Benjamin Netanyahu, and other high-level leaders.

"Students were able to see the world's hottest political region during a real-time conflict and relate to its people, hear both sides of the story, and gain a true understanding of the region's dynamics," says Alex Levich, MBA 09, one of the organizers.

The travelers explored Israel's many layers: a center for advanced technology and a source of skilled labor, as well as a center for religious and political turmoil. In order to hear both sides of the story, students met with the former head of the Mossad, Israel's national intelligence agency, and a Palestinian journalist. They also lunched in a Bedouin tent and watched the sunrise from the Masada Fortress -- King Herod's ancient palace. They toured the Golan Heights, the Roman city of Caesarea, Christian and Jewish holy sites, and took a quick jaunt into Jordan.

Two groups visited China in January. Seventeen Berkeley MBA students toured nine banks in the global financial mega-city Hong Kong as part of a trip organized by the Finance Club. Separately, the Haas Winter Break China Trek visited a range of companies -- including Google and the Pacific Sogo retail chain -- in Beijing and Shanghai, with side trips to the Forbidden City and the Great Wall.

Another Finance Club group remained stateside with a whirlwind tour of Wall Street, visiting seven large firms from Dec. 17 to Dec. 19. "Getting the chance to walk the halls of a Wall Street bank and talk with MBA graduates a couple years removed from school provides a learning experience that can't be replicated on campus," says trip leader Chad McNearl, MBA 09.

The Clausen Center for International Business offered two MBA seminars in January, to Brazil and India. Students visiting India visited the high-tech capital of Bangalore and then headed to Mumbai for a glimpse of Bollywood studio Mehboob Productions. On the Brazil trip, students visited companies in Sao Paolo and Rio de Janeiro.

At the end of January, a team of four Haas undergraduates will head for the University of Aukland, New Zealand, to join 11 other schools competing in the Champion's Trophy Case Competition. Last year, the six-day competition involved developing strategies for Air New Zealand and Charlie's, a soda and fruit juice company listed on the New Zealand Stock Exchange.

The second annual Haas Japan Trek is planned in March during spring break. Japanese students have secured funding from the MBA program office and ten corporate sponsors to make the trip affordable. Students will have the chance to immerse themselves in Japan's rich history and business culture, visiting five cities with stops at companies like Toyota, as well as visits to historical sites.

Haas Team Takes Third in Mozilla Competition

A team of first-year Berkeley MBA students took third place in a field of more than 300 entries in the Impact Mozilla Case Competition.

Mozilla, the developer of the Firefox Internet browser and other open-source products, asked entrants how to win the loyalty of past and future Firefox users. Tens of millions of people download the software, but many stop using it over time.

The third-place Haas team, which called its plan "Surf on Your Own Turf," consisted of Mohsin Afzal, Naveed Alam, Deval Delivala, and Feng Yuan Xu, all MBA 10.

The team argued that Mozilla needs to demonstrate Firefox's advantages by helping mainstream users customize the browser during installation. The team proposed creating a viral marketing campaign showing the diversity of Firefox users and sponsoring browser customization contests among university students, fostering future loyalty.

A second Haas team -- comprised of Pejman Pour-Moezzi, Jacqueline Yuen, Ornwassa Siamseranee, and Harvey Villarica, all MBA 10 -- were among ten finalists in the competition but did not place. They urged Mozilla to create buzz by positioning Firefox as the socially conscious "browser that does good."

The winning team, selected by 5,000 people from the public who voted online, was composed of two engineering undergraduate students from the Birla Institute of Technology and Science in Pilani, India. The winners proposed a strategy focusing on customization and personalization. Mozilla gave the winners $3,000 and will work with them to discuss implementing their plan.

The ten finalists' marketing proposals are available at http://impactmozilla.com/vote/.

Educator Bill Sonnenschein Dies in Madagascar

Bill Sonnenschein

William "Bill" Sonnenschein, senior lecturer on leadership and communication at the Haas School, passed away suddenly on December 29 in Madagascar. He died from heart failure following a brief gastric illness.


Sonnenschein, who was 59, was in Madagascar as a special adviser to the President, helping the country establish an Office of Leadership and Communication for Sustainable Development. His wife, Ericka Lutz, an author, lecturer, and writing consultant at the Haas School, and his youngest daughter, Anaya, were with him when he died in the town of Maraontsetra on Madagascar's east coast.


Sonnenschein, who lived in Oakland, had returned to Madagascar in October for a six-month assignment, following an earlier trip last May and June. At that time he created a nationwide leadership training program for mayors and community chiefs, conducted short workshops for the president's staff, wrote speeches for President Marc Ravalomanana, and met with cabinet members. On this most recent trip, he planned to work on a conference that would bring together businesses and environmental leaders.


A lecturer at Haas since 1992, Sonnenschein has been integral to the teaching of leadership communication at the Haas School, heading up the MBA core leadership communication program for both the Full-time and Evening & Weekend MBA Programs. Sonnenschein was consistently recognized for his teaching by students.


Sonnenschein also taught business communication to undergraduate students and delivered an annual "Speaking for Management" workshop in the Undergraduate Program's Business for Arts, Sciences, and Engineering (BASE) summer program. In addition, he taught courses on leadership communication and on leading and leveraging diversity for the school's Center for Executive Education.


Sonnenschein also served as a faculty director to the Young Entrepreneurs at Haas (YEAH) Program and as a member of the YEAH Executive Board.


His contributions to UC Berkeley included work with the Beahrs Environmental Leadership Program at the College of Natural Resources. Over the past five years, Sonnenschein helped to train environmental leaders from more than sixty countries. It was through this program that he met the student who would become President Ravalomanana's chief of staff and recommend Sonnenschein for the special adviser position.


Over the course of his career, Sonnenschein taught well over ten thousand students at UC Berkeley, Santa Clara University, San Francisco State University, Santa Rosa Junior College, University of San Francisco, and Saint Mary's College. He was a visiting lecturer at the University of St. Petersburg, Russia, and at BUTE, in Budapest, Hungary.


In addition to his teaching, Sonnenschein consulted and wrote about leadership, communications, and diversity. Among his books was The Diversity Toolkit, a training tool for organizations and universities. He was an avid traveler and an active volunteer, working with such organizations as World Pulse, a web and print forum covering global issues through the eyes of women.


Before becoming a teacher, Sonnenschein was active in the civil rights movement and a leader in the Bay Area draft resistance movement. He was also involved in the Bay Area music scene, as a roadie for Transatlantic Railroad, Quicksilver Messenger Service, and Big Brother and the Holding Company. He was a key organizer for Vietnam Summer in 1967.


He was born in Alameda, California, on March 15, 1949.


Sonnenschein is survived by his wife, Ericka Lutz; his children, Aaron, Rachel, and Anaya Sonnenschein; his sisters, Susan Sonnenschein and Sherry Alcala; his granddaughter, Cordelia Sonnenschein; daughter-in-law Ruthie Crossley; niece Morgan Alcala; parents-in-law Arthur and Karla Lutz; and many cousins, in-laws, and friends.


The Haas School and the College of Natural Resources are planning a joint memorial service later this month. The Sonnenschein family plans to hold a public memorial service for him in March.


In lieu of flowers the family asks that donations be made to Balls Without Borders, UNICEF, or Doctors Without Borders.

Lester Center Honors Two Entrepreneurship Pioneers

John Freeman

The Lester Center for Entrepreneurship and Innovation awarded its 2008 Lifetime Achievement Award in Entrepreneurship and Innovation to Haas Professor John Freeman and Babson College Professor Jeffry Timmons, both of whom passed away last year. Inaugurated in 1998, the Lifetime Achievement Award is awarded to exemplars of entrepreneurship whose success can teach future generations by the example they set.

Freeman served as the Leo Helzel Professor of Entrepreneurship at the Haas School and the faculty director at the Lester Center. In 1997, Freeman created the Berkeley Entrepreneurship Laboratory, a free resource center for young companies founded by Berkeley students. Under his guidance and support at the "lab," many student projects emerged as viable and successful ventures and contributed to building a vibrant entrepreneurial community that continues as a tribute to his efforts.

Before his death, Freeman headed a two-year project, "The Causes and Consequences of Entrepreneurship in the United States," with a team of 14 Berkeley professors from a variety of disciplines, researching entrepreneurship in the United States. The project was funded by grants from the Ewing Marion Kauffman Foundation.

"At UC Berkeley, entrepreneurship is a team sport. John was a leader of our time, and his contributions will live long after him," said Jerome Engel, Executive Director of the Lester Center.

Jeffry Timmons

Timmons served as the Franklin W. Olin Distinguished Professor in Entrepreneurship at Babson College. Timmons was one of the pioneers in the development of entrepreneurship education and research in America. He was internationally recognized as a leading authority for his research, innovative curriculum development, and teaching in entrepreneurship, new ventures, entrepreneurial finance, and venture capital.

Called "The Johnny Appleseed of Entrepreneurship Education" by Inc. Magazine, Timmons wrote the first doctoral dissertation to use of the word "entrepreneurial" in its title: "Entrepreneurial and Leadership Development in an Inner City Ghetto and a Rural Depressed Area (Harvard, 1971)." He created the first business plan competition at the college level in 1984 at Babson College.

"Jeff was the first and most significant advocate for the role of experienced entrepreneurs and managers in the classroom, not just as guest lecturers, but indeed as principal educators," says Engel. "Jeff influenced generations of educators and established a pattern of classroom education and experiential learning typified as some of the best entrepreneurial education in the United States."

Call for Business Plan Competition Entrants

The Lester Center for Entrepreneurship and Innovation has issued a call for entrants to two upcoming business plan competitions that it sponsors: the 10th Annual Global Social Venture Competition and the 11th Annual UC Berkeley Business Plan Competition.

Executive summaries for the Global Social Venture Competition (GSVC) are due Wednesday, Jan. 21. Entrepreneurs with a financially sustainable venture that addresses a social or environmental problem are encouraged to apply.

Winning plans in the past have ranged from global health to microfinance, from clean tech to education, and from fair trade to community development. Plans have come from business concepts and operating companies, and have included for-profit and nonprofit models. For more details, visit http://entrepreneurship.berkeley.edu/business_competitions/gsvc.html.

Executive summaries for the UC Berkeley Business Plan Competition are due Wednesday, Jan. 28 and should be submitted at http://younoodle.com/groups/berkeley_business_competition.

Last year, the UC Berkeley Business Plan Competition received submissions from more than 200 aspiring entrepreneurs in areas as diverse as nanotechnology, biotechnology, computing services and software, consumer goods, financial services, and the Internet.

For more information about the competition, past winners, rules, and timeline, visit http://bplan.berkeley.edu/. Teams are now forming on YouNoodle. You can also find potential team members at googledoc.

Lester Center Creates Stephanie Tibbetts Memorial Fund

The Lester Center for Entrepreneurship and Innovation has established the Stephanie Tibbetts Memorial Fund to honor the memory of the center's longtime program manager.

The fellowship aims to recognize Tibbetts' contributions to the growth of the Lester Center and her commitment to helping students excel and reach their goals at Haas in the field of entrepreneurship. It will encourage entrepreneurial leadership and excellence by Haas MBA students. The fellowship will be funded by contributions to the university in Stephanie Tibbetts' name.

To make a donation to the fund, please contact the Lester Center at lester@berkeley.edu or 510-642-4255.

Staff News

Six Haas Staff Members Honored for Exceptional Service

Six Haas staff members were honored with Spot Awards for going above and beyond the call of duty in serving their departments or the school as a whole.

The university-wide Spot Award program is designed to allow supervisors, managers, and other campus members to recognize special achievements by non-represented staff. Its objective is to create role models and let employees know that someone has noticed their outstanding work. Honorees receive a cash award of $400.

Marjorie DeGraca, Evening & Weekend MBA and Berkeley-Columbia Executive MBA director of admissions and Berkeley-Columbia Executive MBA interim executive director, was recognized by Haas senior assistant dean and chief operating officer Jennifer Chizuk for planning, executing, and following up on the first strategic meeting between Haas and Columbia senior leadership since the program's inception in 2002.

Kate Blumberg, full-time MBA student services coordinator, received recognition from full-time MBA director of student affairs Amy Hornstein for "an exceptional job" in supporting the MBA orientation week team and "contributing to the great success of the event." Amy praised Kate's attention to detail, willingness to step in wherever needed, and proactive and hands-on approach toward greening O-Week.

Data manager Lisa Martin received a Spot Award for her work on the Data Stewardship Council (DSC). Jill Martin, business and policy analyst, highlighted Lisa's contributions to a DSC subcommittee designed to develop a web application that will improve the campus's ability to manage and protect its data assets. "I can honestly say that without Lisa, we would not have accomplished the project," Martin wrote.

Lead faculty assistant Donna Seaward was nominated by Denise Boyd, Haas director of human resources and administration, for taking initiative to improve her unit. Not only did Seaward speak with staff on campus to explore new possibilities, wrote Boyd, but she also contacted an employee at Harvard University who supervises a similar unit and met with that person while vacationing on the East Coast.

"Gaidi Nkurama goes about his job quietly, but consistently does top-quality work," wrote full-time MBA student Brad Kittredge, MBA 09. The Haas Media Services producer/director received a Spot Award for consistently exceeding expectations in providing media support. Gaidi collaborated with MBA students to plan and execute a demanding media schedule for O-Week 2008, calmly resolving any problems along the way.

Haas' deanship transition during the 2008 calendar year was challenging and complex, but executive assistant to the dean Marco Lindsey did an exceptional job managing it, wrote dean's analyst Susie Jordan. Lindsey ensured a seamless transition by creating a new CalAgenda account to track the meetings of incoming Dean Rich Lyons while managing the busy day-to-day activities of outgoing Dean Tom Campbell.

For information on how to nominate a colleague for a Spot Award, visit http://recognition.berkeley.edu.

New Executive Director Joins Center for Young Entrepreneurs at Haas

The Center for Young Entrepreneurs at Haas (YEAH) welcomed Jennifer Bevington as its new executive director on Dec. 8.

In addition to overseeing the general program, Bevington is focusing on building support for YEAH by strengthening relationships with existing partners and working to develop new ones. She has worked in nonprofit administration, education, and fundraising for the past 23 years, primarily with science and natural history museums. She holds a bachelor's degree in English and Spanish from Augustana College, a small school on the Mississippi River between Des Moines and Chicago.

Bevington enjoys international travel, but with an 11-month-old son has been spending more time on other passions, including running, cross-country skiing, cooking, and photography.

Email: jennifer_bevington@haas.berkeley.edu

Annual Fund Welcomes New Associate Director

Betsy Cardis joined the Development and Alumni Relations Department on Jan. 12 as its new associate director of the Annual Fund.

In this position, Cardis will help MBA alumni celebrate their reunions and find meaningful ways to support Haas on an annual basis. She has six years of experience in fundraising for UC Berkeley's College of Engineering, nonprofit environmental law firm Earthjustice, and Oakland's Bishop O'Dowd High School. She holds a bachelor's degree in psychology from Cal and a master's from Holy Names University.

In her free time, the proud Bay Area native enjoys Cal football, tennis, astrology, music, and all things French.

Email: betsy_cardis@haas.berkeley.edu
not yet assigned
2001 Addison St.

MBA Career Services Welcomes New Program Coordinator

Ursela Nicholson joined Career Services as a program coordinator on Dec. 1.

She is responsible for providing assistance to full-time MBA students, facilitating relationships between the Berkeley MBA program and other business schools, and coordinating her office's career counseling services. Previously, Nicholson worked as a client sales associate with Smith Barney and on the UC Berkeley campus as an event manager and building supervisor with the ASUC. She earned a bachelor of arts in anthropology from Cal in 2006.

Nicholson loves spending time outside and being active, including running, biking, swimming, and yoga. She also enjoys baking and has an interest in Berkeley's unique architecture and historical landmarks.

Email: ursela_nicholson@haas.berkeley.edu
Phone: 643-4904
Office: S420

Alumni Relations and Development Hires Kasthuri Sampathraj as Full-Time Database Analyst

After starting work as a limited-term employee in January 2008, Kasthuri Sampathraj became a full-time database analyst in the Alumni Relations and Development department on Nov. 5.

In this position, Sampathraj's responsibilities include mailing list preparation for fundraising activities, database maintenance, information support, and other data reporting. He has worked as an IT consultant for a number of US companies and as a systems analyst for Bharat Heavy Electricals Ltd. in India. He earned a bachelor of science in production engineering from India's Bharathidasan University.

In his spare time, Sampathraj enjoys listening to Indian classical music and watching sports and game shows on television.

Email: sampathraj@haas.berkeley.edu
Phone: 642-3235
Office: 2001 Addison St.

Daniel Roddick Named Temporary Financial Aid Assistant Director

The Haas School welcomed Daniel Roddick as its new temporary assistant director of financial aid.

Roddick has worked in higher education for more than five years and was most recently a relationship manager for Key Bank Education Resources (Key Bank's student lending division) throughout California. In that role, he developed relationships with more than 150 colleges and universities. Prior to that, he worked at Stanford University's Graduate School of Business as assistant director of academic operations, managing student enrollment processing, and as a financial aid advisor. He has experience with counseling, working with an international student population, and data analysis.

Roddick is working full-time for the next three months at Haas.

Email: daniel_roddick@haas.berkeley.edu
Office: S420L

Haas in the News - As of 01/20/09

San Jose Mercury News/Contra Costa Times
Jan. 17, 2009
Berkeley lecturer dies as he lived -- on an adventure
An article reported on the death of Haas Lecturer Bill Sonnenschein, who passed away in Madagascar, and quoted his wife, Ericka Lutz, an author, lecturer, and writing consultant at the Haas School.

San Francisco Chronicle
Jan. 15, 2009
Bay Area pilot hailed as hero in N.Y. plane crash
Karlene Roberts, a professor in the graduate school and director of the Collaborative for Catastrophic Risk Management at UC Berkeley, was quoted about Chesley B. "Sully" Sullenberger III, a visiting scholar at the center, who landed a US Airways plan in the Hudson River.

Other stories quoting Roberts appeared in the following media outlets:

Associated Press/San Jose Mercury News
Hudson River plane skirted disaster at many
San Jose Mercury News
Danville pilot safely lands crippled US Airways plane on Hudson River
ABC Channel 7
Danville Pilot Hailed as Hero

Associated Press
Jan. 12, 2009
Citi shares fall despite talks with Morgan Stanley
Jim Wilcox, a professor in the Haas Economic Analysis and Policy Group and Haas Finance Group, was quoted about the various indications that Citigroup's problems run deep, including its selling a majority share of Smith Barney.
This story also appeared in the following media outlets:
USA Today
Citi shares fall despite talks with Morgan Stanley about Smith Barney
Los Angeles Daily News
Citigroup hustles for capital; brokerage deal would raise billions
The Washington Times
St. Louis Post-Dispatch
Citigroup works on deal to sell brokerage as stock nose-dives
Citi shares sink despite talks
Baltimore Sun
Morgan Stanley deal in works, Citigroup stock falls
The Columbus Dispatch
Citigroup on ropes? Shares dip 17%
Winston-Salem Journal
Citigroup stock sinks 17 percent
The Daily Journal
Citi shares fall despite talks with Morgan Stanley
ABC Channel 7
Citi shares fall despite Morgan Stanley talks
Houston Chronicle
Citi investors doubtful despite Morgan Stanley effort

San Francisco Chronicle
Jan. 11, 2009
Worried about e-mail addiction
David Robinson, a senior lecturer, wrote a column about managing email and landing a summer internship from informational interviews.

San Francisco Business Times
Jan. 9, 2009
Recessions boost grad schools — or maybe not
Pete Johnson, the director of admissions for the Full-time MBA Program, was quoted about the professional experience of applicants to the Full-time MBA Program.

ABC Channel 7
Jan. 8, 2009
Green jobs may be best bet for stimulus
Andrew Rose, a professor in the Haas Economic Analysis and Policy Group, was quoted on the difficulty in knowing which industries will do well in the future.

Real Clear Politics
Jan. 6, 2009
The Blagojevich Blight: Controversy Threatens To Taint Surrounding Democrats
Laura Tyson, a professor in the Haas Business and Public Policy Group, was mentioned as a possible replacement for Bill Richardson as Secretary of Commerce.

San Francisco Chronicle
Jan. 7, 2009
Assessing a Whitman candidacy

Former Dean Tom Campbell was mentioned in the field of GOP candidates expected to run for California governor against former eBay CEO Meg Whitman.

A similar story also appeared in the following publication:

Silicon Valley Business Journal
Jan. 5, 2009
Report: Meg Whitman quits boards, may run for governor

Jan. 3, 2009
Recession Temporarily Trumps Green Energy Policies
Severin Borenstein, director of the UC Energy Institution and a professor in the Haas Economic Analysis and Policy Group, was interviewed about the recession pushing enactment of President Obama's green policies back a year or more.

NPR: On Point with Tom Ashbrook
Jan. 2, 2009
2009: The Year Ahead
Laura Tyson, a professor in the Haas Business and Public Policy Group, appeared as a guest talking about the year ahead with Tom Asbrook of NPR.

Corporate Secretary
January 2009
Rising stars of governance
Kellie McElhaney, adjunct assistant professor and former executive director of the Center for Responsible Business, was quoted about Gap's commitment to social responsibility.

Dec. 26, 2008
Gas Prices Swing Back Up
Severin Borenstein, director of the University of California Energy Institute, was quoted about gas prices gradually rising into spring and consumers returning to previous habits unless prices go way up again.

Redding.com (Record Searchlight Online)
Dec. 26, 2008
Here's a contrarian move
Former Dean Tom Campbell was the subject of a blog entry by Editorial Page Editor Bruce Ross after Campbell came out supporting higher taxes.

The Business Ledger
Dec. 24, 2008
Seniors struggle to stay afloat in financial crisis
Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about how seniors are now considering reverse mortgages to tap into their home's equity.

CBS Channel 5
Dec. 22, 2008
Mortgage Modification Can Be Trying, Chaotic
Tom Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about loan modifications not being very generous, not reducing payments much, or not reducing principle much.

New York Times/International Herald Tribune
Dec. 21, 2008
More Companies Are Cutting Labor Costs Without Layoffs
Jennifer Chatman, a professor in the Haas Organizational Behavior and Industrial Relations Group, was quoted about companies trying to cut cots to avoid layoffs, noting that such tactics build long-term loyalty among workers who are not laid off.
She was also interviewed on this topic by KCBS.

San Francisco Chronicle
Dec. 21, 2008
Blowing off the boss a bad idea
David Robinson, a senior lecturer, wrote a column about handling a subordinate who doesn't want to attend a weekly meeting, how to respond to a "gag gift," and how to react to a boss's wife.

Dec. 19, 2008
The Perfect Fit for Good Corporate Communications: Aligning CSR, Brand and Philanthropy
KellieMcElhaney, adjunct assistant professor and former executive director of the Center for Responsible Business, was interviewed about her new book, Just Good Business: The Strategic Guide to Aligning Corporate Responsibility and Brand.

Outlook '09: No end in sight for US recession - economist
Dec. 14, 2008
Cynthia Kroll, senior regional economist at the Fisher Center for Real Estate and Urban Economics, was quoted about the need to resolve the foreclosure problem in order to pull the economy out of a recession.

Dec. 12, 2008
B-School Buzz: New Biz Read from Haas
Kellie McElhaney, adjunct assistant professor and former executive director of the Center for Responsible Business, was featured for her book, Just Good Business: The Strategic Guide to Aligning Corporate Responsibility and Brand.

ABC Channel 7
Dec. 12, 2008
The downside of cheap gas
Severin Borenstein, director of the UC Energy Institution and a professor in the Haas Economic Analysis and Policy Group, was quoted about gas prices and consumer awareness.

New York Times/International Herald Tribune
Dec. 11, 2008
'Car Czar' a Fuzzy Description for a Big Job
Laura Tyson, a professor in the Haas Business and Public Policy Group, was quoted about the possibility of appointing a "car czar."

Albany Herald
Dec. 11, 2008
Albany Tomorrow holds final full board meeting
Jim Wilcox, a professor in the Haas Economic Analysis and Policy Group and Haas Finance Group, was quoted about his participation as a board member of Albany Tomorrow, Inc.

Wall Street Journal
Dec. 8, 2008
Corporate-Debt Work Wins Prize
Hayne Leland, a professor in the Haas Finance Group, was featured for winning the $100,000 Stephen A. Ross Prize in Financial Economics for his work on the relationship between corporate debt pricing and capital structure.
Similar stories appeared in the following media outlets:
Money Science
Hayne Leland wins the inaugural Stephen A. Ross Prize in Financial Economics
News Blaze
Business Professor Hayne Leland Honored with $100K Financial Economics Prize
Pensions & Investments
Leland gets Ross financial economics prize

CBS Channel 5
Dec. 10, 2008
Chinese Buyers Find California Real Estate Deals
Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about how foreign countries are investing in American real estate.

Dec. 10, 2008
Tough Economy Could Mean Fertile Ground for Open Innovation, says Haas' Chesbrough
Adjunct Professor Henry Chesbrough, executive director of the Center for Open Innovation, was interviewed on open innovation during a tough financial crisis.

Chicago Public Radio Eight Forty-Eight
Dec. 10, 2008
Adam Galinsky, a Haas visiting professor from Kellogg, was quoted about Illinois Governor Rod Blagojevich.

Financial Times
Dec. 9, 2008
Sun, sea and suffering for entrepreneurs
Kellie McElhaney, adjunct assistant professor and former executive director of the Center for Responsible Business, was featured as a speaker at the two-day seminar for the global competition run by the Irish Entrepreneur of the Year award initiative.

San Francisco Chronicle
Dec. 9, 2008
Nummi plans 12-day shutdown over two months
Kenneth Rosen, co-chairman at the Fisher Center for Real Estate and Urban Economics, was quoted about the Bay Area's moderate recession at the KPMG Audit Committee Institution roundtable in San Francisco.

A similar story appeared in the following publication:

San Francisco Business Times
Dec. 8, 2008
Bay Area companies see recession ending within 18 months: survey

Dec. 8, 2008
Home Buyers Score Deals At Bay Area House Auction
Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about how buyers shouldn't be in a rush to beat rising prices.

Dec. 8, 2008
Scientists and MBA Students Team Up to Commercialize Cleantech
Jay Stowsky, senior assistant dean, was quoted about a partnership launched between scientists at the Lawrence Berkeley National Laboratory and students of the Berkeley Energy and Resources Collaborative.

KPCC Airtalk with Larry Mantle
Dec. 8, 2008
Presdient-Elect Obama's Stimulus Plan
Jim Wilcox, a professor in the Haas Economic Analysis and Policy Group and
Haas Finance Group, was quoted about Obama's proposed infrastructure investment program and its economic implications.

New York Times/International Herald Tribune
Dec. 8, 2008
Back at Junk Value, Recyclables Are Piling Up
Jim Wilcox, a professor in the Haas Economic Analysis and Policy Group and Haas Finance Group, was quoted about the implosion of the recycling industry and civic participation to help benefit the economy.

San Leandro India West
Dec. 6, 2008
Bhupen Amin to Chair California Hotel & Lodging Group
Bhupen Amin, BS 92, was featured for his election to chair California Hotel & Lodging Association in 2009.

San Jose Mercury News
Dec. 5, 2008
Rate plan puts homeowners, buyers on hold
Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about the government providing a super-low-rate loan to homeowners.

CNN Money
Dec. 5, 2008
Lower mortgage rates no silver bullet
Kenneth Rosen, co-chairman of the Fisher Center for Real Estate and Urban Economics, was quoted about the effects of adjusting mortgage rates and how the problem is actually about the availability of credit.

KPCC Airtalk with Larry Mantle
Dec. 5, 2008
Real estate scholar questions whether home ownership is always a good thing
Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted about the falling mortgage rates and the Southern California economy.

Dec. 5, 2008
Day 2: More than good intentions at the Clinton Global Initiative
Laura Tyson, a professor in the Haas Business and Public Policy Group, was featured as a participant on the second day of the Clinton Global Initiative meeting titled "Coping with the Financial Crisis" in Hong Kong.
Similar stories appeared in the following media outlets:
Associated Press/Financial Express
China reluctant to invest in foreign banks
Financial Post
Experts bearish on near-term global economic turnaround
Asian Investor (subscription required)
CIC: Don't count on China to save the world
China Investment Corp. won't invest massively overseas till uncertainty clears

Chicago Daily Herald
Dec. 4, 2008
Quick bounce back for home prices? Experts say not so fast
Kenneth Rosen, co-chairman of the Fisher Center for Real Estate and Urban Economics, advises people to count on homes as places to live and not as investments.

Dec. 3, 2008
Dr. Craig van Roekens Appointed as Chief Medical Officer at Manhattan's Physician Group
Craig van Roekens, MBA 99/MPH 00, was featured for his appointment as CMO at Manhattan's Physician Group.

China Post
Dec. 3, 2008
Individual investors should stop trading stocks: Berkeley professor
Terrance Odean, a professor in the Haas Finance Group, was quoted about his research on individual investors in advance of his speaking engagement at an investment symposium in Taipei.

Dec. 2, 2008
Health-Care MBAs See Brighter Future
Kristi Raube, executive director of the graduate program in health management, was quoted about the health care industry continuing to grow despite the recession.

San Francisco Chronicle
Dec. 1, 2008
You can qualify for mortgage, it's just tougher
Kenneth Rosen, co-chairman of the fisher Center for Real Estate and Urban Economics, was quoted about how difficult it is to obtain loans now that the housing market has collapsed.

Massey News
Nov. 30, 2008
If you go to San Francisco...
Fiona Miller, MBA 10, was featured for her current experiences at the Haas School of Business after winning the Fulbright Platinum Triangle Scholarship in Entrepreneurship.

Associated Press/San Diego Union-Tribune
Nov. 28, 2008
Meltdown far from over, new mortgage crisis looms

Kenneth Rosen, co-chairman of the Fisher Center for Real Estate and Urban Economics, was quoted about how the financial system has never been tested for a deep recession.

A similar quote appeared in the following publication:
Sydney Morning Herald
Nov. 28, 2008
Tumbleweeds are set to blow through US malls

Associated Press
Nov. 27, 2008
FDIC to allow non-banks bid for troubled banks
Jim Wilcox, a professor in the Haas Economic Analysis and Policy Group and Haas Finance Group, was quoted about the possibility of a new bidding process for banks.

Nov. 26, 2008
Spanning silos
David Aaker, marketing professor emeritus, was interviewed about his new book, Spanning Silos.

Dec. 14, 2008
How not to pick a team (again)
Laura Tyson, a professor in the Haas Business and Public Policy Group, was featured for her part in proposing a stimulus package to help pull the US out of recession.
Similar stories appeared in the following media outlets:
Nov. 26, 2008
Jacobs Posts Biggest 3-Day Gain Since 1980 on Stimulus Outlook
Seeking Alpha
Nov. 26, 2008
Fast Money Recap - Who Cares about the Citi Rally?
Nov. 26, 2008
Obama Will Boost Stimulus Plan With Funds for Roads, Energy
About News
Nov. 26, 2008
The Case Against Obama's Economic Advisors

Wealth Bulletin
Nov. 26, 2008
All in the mind: the art of successful investment
Terrance Odean, a professor in the Haas Finance Group, was quoted about the tendency of institutions to focus their research on what to buy rather than selling, which is more emotional and less research-driven.

Star Ledger
Nov. 25, 2008
Owner of Four New Jersey Malls Could Go Bankrupt
Kenneth Rosen, co-chairman of the Fisher Center for Real Estate and Urban Economics, was quoted about how property taxes would be a priority over mortgage debt for the municipality.

Christian Science Monitor
Nov. 25, 2008
Nov. 30, 2008
Revolutionary help for homeowners
John O'Brien, co-director of the Center for Innovative Financial Technology and faculty director of the Master's in Financial Engineering Program, wrote an article about the probability and benefits of fractional homeownership for the housing market.

The Fremont Argus
Nov. 24, 2008
A drop in the bucket—but any little bit will do
Nov. 24, 2008
Falling Gas Prices Just a Drop in the Bucket
Catherine Wolfram, an associate professor in the Haas Economic Analysis and Policy Group, was quoted about how the economic crisis has eclipsed falling gasoline prices.

Happening at Haas

Obamanomics: A Conversation with Professor Jim Wilcox
Haas Celebration in the East Bay
Wednesday, Jan. 21
6:00 p.m. to 8:30 p.m.
Round Hill Country Club, 3169 Roundhill Road, Alamo
Cost: $50 for alumni and guests, $20 for current students

Business of Health Care Conference
Leonard D. Schaeffer,
Founder and Former CEO, Wellpoint
Paul H. Keckley,
Executive Director of the Deloitte Center for Health Solutions
Marc E. Owen,
Executive Vice President, Corporate Strategy and Business Development
Saturday, Feb. 7
Haas School of Business

Education Leadership Case Competition
DC Public Schools: The Pursuit of Excellence in the Nation's Capital
Saturday, Feb. 21
8:30 a.m. to 5:00 p.m. final presentations;
6:00 p.m. awards ceremony open to the Haas community
Wells Fargo Room



Biotech Entrepreneurship Lecture & Mixer
"Idea to IPO" Speaker Series
Wednesday, Jan. 21
5:00 p.m. to 7:00 p.m.
University of California San Francisco, Mission Bay Campus
Byers Hall, Room 212

Berkeley Entrepreneurs Forum
Prediction Markets: Entrepreneurial Opportunities in Fortune Telling
Thursday, Jan. 22
6:30 p.m. to 8:30 p.m.
Arthur Andersen Auditorium, Haas School of Business

For more information, contact Clifford Mak at cliff_mak@haas.berkeley.edu.

Xi "Canny" Zou, graduate student in Organizational Behavior, Columbia University
Wednesday, Jan. 21
4:00 p.m. to 5:30 p.m.
Cheit 330

Christine Beckman, OBIR visiting scholar
The Paul Merage School of Business, UC Irvine
Wednesday, Jan. 28
4:00 p.m. to 5:30 p.m.
Cheit 330


Dean Lueck, Arizona
Demarcation of Land and the Role of Coordinating Institutions
Thursday, Jan. 29
4:10 p.m. to 6:00 p.m.
Cheit Hall 325


Business Alumni Mock Interviews
Friday, Jan. 23
Noon to 3:00 p.m.
UC Berkeley Career Center, 2111 Bancroft Way, Interview Suite, Room 344
RSVP: Meg Roundy at meg@haas.berkeley.edu.
Cost: Free

Being an Effective Leader in Uncertain Times
Wednesday, Jan. 28
6:30 p.m. to 9:00 p.m.
McKinsey & Company, 555 California Ave., San Francisco
Register online at http://www.acteva.com/booking.cfm?bevaid=174656
Cost: $20

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