Haas NewsWire

Haas NewsWire, March 14, 2005

Fifty-nine Newly Minted Financial Engineers Celebrate Commencement, March 18


The Master's in Financial Engineering Program (MFE) is sending 59 new financial engineers out into the world at 10:00 a.m. on Friday, March 18, when the fourth class of MFE students celebrates commencement in the
Arthur Andersen Auditorium (by invitation only).

Robert J. Shiller, Yale economics professor and author of the best-selling book Irrational Exuberance, will deliver the commencement address. He co-founded Case Shiller Weiss and has written on financial markets; financial innovation; behavioral economics; macroeconomics; real estate; statistical methods; and on public attitudes, opinions, and moral judgments regarding markets.

The members of the graduating class leave Haas with a highly desirable skill set for the current job market -- the ability to apply theoretical finance and computer modeling skills to pricing, hedging, trading, and portfolio management decision-making. Even though formal recruiting for the graduating MFE students doesn't officially begin until after graduation, several firms have already made offers, including Quantal International, Lehman Brothers, Goldman Sachs, Barclays Global Investors, Deutsche Bank, and Morgan Stanley.

Prior to coming to the Haas School, more than half of the class already held a master's degree and 10% possessed a Ph.D. One-third have professional experience in finance, 23% in engineering, 13% in research and development, and 12% in information systems.

The Earl F. Cheit Award for Excellence in Teaching and the Gifford Fong Associates Applied Finance Prize for student finance projects will be presented at the ceremony. For more information, contact mfe@haas.berkeley.edu.

Nine Teams Head to the Finals in the Global Social Venture Competition

Nine teams, including two from the Haas School, made it to the final round for the 2005 Global Social Venture Competition (GSVC), beating out 50 other semifinalist teams.

Panels of judges at each of the partner schools in the competition, the Haas School of Business, Columbia Business School, and the London Business School, held semifinal rounds earlier this month to choose the finalists from their region. Haas reviewed all the plans from the western US and the midwest, Columbia reviewed all of the plans from the east coast, and London reviewed the international plans. The judging panels were comprised of venture capitalists, social entrepreneurs, and leaders in the philanthropic community.

The nine teams advancing to the final round are:

Amhartan Accessible Travel Services (London Business School) is working to improve the experience of travelers with special needs by providing consumer services and training travel industry workers how to accommodate special needs travelers.

Connect US LLC (Columbia University, Columbia Business School) uses wireless messaging to remind patients to take medication as prescribed to help minimize the social and financial burden placed on the US healthcare system when patients fail to follow doctors' orders.

Fuelture (University of Pennsylvania, Wharton School) will support converting high-mileage urban vehicles, namely taxis and small delivery vans, to using automotive propane or liquefied petroleum gas (LPG) instead of gasoline, which would reduce running costs and improve urban air quality. Fuelture would simplify the conversion process and create a chain of filling stations.

Fuerza Research (Northwestern University, Kellogg School of Management) provides market research on teenage trends by hiring and training low-income, urban teens to conduct focus groups and peer interviews.

Green Scene (New York University, Stern School of Business) will train and employ individuals with criminal records in New York City to provide a range of outdoor maintenance services, giving these individuals new skills and employment.

INYUCA (ESADE Business School), working in Colombia, would replace corn, imported as animal feed, with a locally grown product: yucca. Growing yucca and processing it into flour would create jobs in rural communities for farmers and processors while providing an alternative to coca leaf cultivation.

MicroCredit Enterprises (UC Berkeley, Haas School of Business, and UC Davis, Graduate School of Management) is a socially-responsible investment fund targeting the microfinance sector through MicroCredit Enterprises Investment Accounts (MEIA).

SolarAMP, LLC (University of North Carolina, Kenan-Flagler School) is a nanotechnology company in the Solar Energy industry currently pursuing off-grid solutions for developing countries.

World of Good (UC Berkeley, Haas School of Buisness) distributes a line of globally sourced fair trade gifts and accessories under fair trade guidelines that generate employment for women and disadvantaged communities, promise a living wage, and promote social and economic development.

Student-run and hosted by the Lester Center for Entrepreneurship and Innovation with support from the Goldman Sachs Foundation and the Omidyar Network, the competition has had increasing global participation over the years. This year 50% of the plans submitted were from universities outside the US.

When founded in 1999 by Berkeley MBA students, the competition was the only contest in the nation to reward business plans with significant quantifiable social as well as financial goals. To be eligible, each team must include one current MBA student from an accredited business school. All plans must demonstrate significant social return on investment and financial self-sufficiency or profitability.

The top prize of $25,000 and other awards will be presented April 15, 2005, at the Haas School. For more information on the competition, visit http://www.socialvc.net

MBA Job Opportunities Increase as New Firms Hire on Campus

On-campus recruiting at the Haas School has rebounded this year, with 35% more interviews on campus this fall over last, and 40% more interviews for summer internships this spring.

Abby Scott, director of MBA Career Services, has seen a rise in both the number of firms coming to Haas and the breadth of opportunities available. "Not only are we seeing a number of new companies, such as Amazon.com, but also new business units, such as Apple's operations team, recruit at Haas," says Scott. "We're excited that students have a broader variety of both companies and positions to pursue."

Overall hiring activity has increased in all industry sectors this year as well. This January hiring firms posted 125 full-time job openings with Haas career services, compared to 43 at the beginning of last year.

First-time on-campus recruiters this year include American Capital, Analog Devices, AT&T Wireless, Belo, ThinkEquity, Veritas, IBM Consulting, and Nestle's PowerBar division. The Haas School has also been included on the list of core schools for recruiting new MBA hires at Amazon.com, McKinsey & Co., Yahoo!, and Home Depot.

For more information on career services, visit http://www.haas.berkeley.edu/careercenter/.

Net Impact Alumni Dinner to Feature Networking and Keynote Speaker Robert Reich, April 12

Robert Reich, former US Secretary of Labor and a visiting professor at the Goldman School of Public Policy at UC Berkeley, will deliver the keynote address at the annual UC Berkeley Net Impact Alumni/Student Dinner, which will take place Tuesday, April 12, from 6:30 p.m. to 9:30 p.m. at the International House.

Previously known as the Nonprofit Student-Alumni Dinner, this year's dinner is hosted by the Haas chapter of Net Impact, an international nonprofit and public management club for students interested in corporate social responsibility. At Haas, the club was formerly known as Students for Responsible Business. The dinner is sponsored by the Haas School's Nonprofit and Public Management Program with additional support from the Haas Alumni Relations Office and the Center for Responsible Business.

Reich will speak on "Leadership and Social Change: Overcoming the Real Obstacles and Challenges of Leading Today."

Reich has served in three national administrations, most recently as Labor Secretary under President Clinton. In 2003, Reich was awarded the prestigious Vaclav Havel Vision Foundation Prize, by the former Czech president himself, for his pioneering work in economic and social thought. He is currently a professor at Brandeis University and at Brandeis' Heller School of Social Policy and Management.

Reich's ten books include The Work of Nations, which has been translated into 22 languages, the best-selling Locked in the Cabinet, The Future of Success, and his most recent book, Reason. His articles have appeared in The New Yorker, Atlantic Monthly, The New York Times, the Washington Post, and the Wall Street Journal. He regularly comments on NPR's Marketplace.

The Net Impact Alumni Dinner will also recognize student participants in its Board Fellows program. This year 47 Berkeley MBA students are participating in this program, by serving on the board of directors of local nonprofit organizations such as United Way, the YMCA, and the World Affairs Council.

This event is open to all members of the Haas community. To register for the dinner, visit http://www.acteva.com/booking.cfm?bevaid=82796.

Building a New Kind of Workplace: Joy at Work Author to Speak at Haas, April 14

Dennis Bakke, cofounder and CEO emeritus of AES, will speak on how to bring joy to work at a special event, sponsored by Net Impact, on Thursday, April 14, at 12:30 p.m. in the Seaborg Room of the Faculty Club.

Bakke cofounded AES, a global energy company with 40,000 employees and $10 billion in annual revenue, in 1981. He is now president and CEO of Imagine Schools, a company that operates elementary and secondary charter schools in 10 states.

In Bakke's new book Joy at Work, he explains his philosophy for "making the workplace exciting, rewarding, stimulating, and enjoyable for all employees" by empowering them to make decisions and to use their talents every day. He implemented his philosophy at AES with a new set of corporate values, which he describes as integrity, fairness, social responsibility, and, above all, fun.

This event is free and open to the entire Haas community. For more information, contact

Dave Guendleman at guendelm@haas.berkeley.edu.

Branding Guru David Aaker to Speak at the Haas School, April 26

The entire Haas School community is invited to learn the latest thinking on building brands from one of the world's leading authorities on the subject, Haas School Marketing Professor Emeritus David Aaker, at a special lecture on Tuesday, April 26, at 4:00 p.m. in the Wells Fargo Room.

The lecture, entitled "Brand Portfolio Strategy," is part of the David Aaker Distinguished Lecture Series in Marketing, which was launched in spring 2001.

An internationally recognized authority on brand equity and brand strategy, Aaker has published more than 100 articles and 12 books including several classics in the field: Managing Brand Equity (translated into seven languages); Developing Business Strategies (translated into five languages); and Building Strong Brands. His latest book, Brand Portfolio Strategy, discusses how to manage a portfolio of brands to optimize business growth. He won the 2004 MIT Sloan Buck Weaver Marketing Award for contributions to the advancement of theory and practice in marketing science and the 1996 Paul D. Converse Award for outstanding contributions to the development of marketing.

Aaker is the E.T. Grether Professor of Marketing and Public Policy Emeritus at the Haas School. He now serves as vicechairman of Prophet Brand Strategies, a San Francisco consulting firm founded on the basis of Aaker's brand principles by two of his former students, Scott Galloway and Ian Chaplin, both from the MBA class of 1992.

Seats will be available on first-come, first-served basis. For more information, contact Sarah Benson at benson@haas.berkeley.edu.

New Issue of California Management Review Available Now

The Winter 2005 issue of California Management Review (CMR), which includes articles on corporate strategy, information technology, and leadership, is now available in program offices and student lounges at the Haas School.

The winter issue also features two articles on leadership written by Haas School faculty:

  • Reflections on (Schumpeterian) Leadership: A Report on a Seminar on Leadership and Management Education by Professor David Teece (with Mie Augier)
  • Cisco Systems: Developing a Human Capital Strategy by Professor Jennifer Chatman (with Charles O'Reilly and Victoria Chang)

Additional articles include:

  • Strategy and the Crystal Cycle
  • Core Objectives: Clarity in Designing Strategy
  • From " Silicon Island" to "Biopolis of Asia": Innovation Policy and Shifting Competitive Strategy in Singapore
  • Beyond Valuation: "Options Thinking" in IT Project Management
  • The Effects of Participation on B2B Exchanges: A Resource-Based View

CMR is geared towards both practitioners and academics, publishing articles that are research-based and those that address issues of current concern to managers.

Complimentary copies are available for all Haas School students in the student lounges and program offices.  Alumni interested in receiving a complimentary issue of CMR should send an e-mail to cmr@haas.berkeley.edu. Alumni can receive a special CMR alumni subscription at the rate of only $40. The international alumni rate is only $60. To subscribe, send e-mail to cmr@haas.berkeley.edu with current address information.

E-Business Case Competitors to Present Cisco Case Solutions on March 15

With senior management from Cisco Systems and Deloitte Consulting on hand to hear their ideas, undergraduate finalists from the Haas School and other UC Berkeley departments in the sixth annual E-Business Case Competition will present their solutions at the competition's final presentation to be held on Tuesday, March 15 at 6:00 p.m. at the UC Berkeley Faculty Club.

Cisco and Deloitte designed this year's case based on a currently unresolved situation faced by Cisco. Competitor teams were asked to create a business plan that would expand market share and leverage network technology for Linksys, a company acquired by Cisco Systems in 2003.

This competition is presented by the Haas Undergraduate Program and sponsored by the Schlinger Family Foundation, Cisco Systems, and Deloitte Consulting. UC Berkeley undergraduates from all majors are eligible to participate in the competition, which this year will award more than $3,000 in prize money. Participating in the finals are four teams with a total of 15 students from across the Berkeley campus, 10 of whom are from Haas.

"I have always been impressed with the quality of the deliverables that the students turn in," says George Leng, BS 00, competition coordinator, and senior research manager with Cisco's Corporate Market Intelligence team. "This year is no exception. The students have turned in a great set of recommendations on how Cisco can tap into the consumer space, a pressing issue facing many technology companies."

The competition is open to the public. No reservations are required.

New Case Competition to Focus on Corporate Social Responsibility

The inaugural Gap Corporate Social Responsibility Case Competition, sponsored by the Center for Responsible Business and by Gap Inc., will take place on Wednesday, April 13, at the Haas School.

This competition is open to all UC Berkeley undergraduate students. To enter, students must form teams of four to five students with at least two students from the Haas School on each team and then register at the Center for Responsible Business. Teams will receive the topic for the competition on April 6. Final submissions will be due on April 11.

From the submissions five final teams will be chosen to present their work to a panel of judges comprised of representatives of Gap Inc. and Haas faculty. The winning team will receive a cash prize and gift certificate from Gap Inc. In addition, Dotti Hatcher, vice president of Community Relations at Gap Inc. will speak at the competition.

For more information, please contact Joanna Trammell at joannat@haas.berkeley.edu.

Haas in the News

Information Rules: A Strategic Guide to the Network Economy by Carl Shapiro, the Transamerica Professor of Business Strategy, and Hal Varian, professor in the Operations and Information Technology Management Group, was named one of the best strategy books in the March 21 edition of Fortune Magazine in an article titled "The Smartest Books We Know: Strategy." For full text: http://www.fortune.com/fortune/fortune75/articles/0,15114,1034784,00.html

The Haas School of Business was mentioned in the March 14 edition of Business Week in an article titled "A Better Fit for Exec Ed." The Center for Executive Development's program for lawyers was mentioned as one of a new breed of targeted executive education courses. For full text: http://www.businessweek.com/magazine/content/05_11/b3924115_mz070.htm

John Freeman, the Helzel Professor of Entrepreneurship and Innovation, was quoted in the San Jose Mercury News in an article titled "Culture Change: Some to Get Overtime at Electronic Arts" on March 10. For full text: http://www.mercurynews.com/mld/mercurynews/business/technology/11098193.htm

Terrance Odean, associate professor in the Finance Group, was quoted on MarketWatch in an article titled "Five Years Later, Investors Still Hurting" on March 9. Odean commented on investment strategies. For full text: http://cbs.marketwatch.com/news/story.asp?guid=%7B3F2A2400-87D2-4390-AC10-DAE6888DE143%7D&siteid=google&dist=google.

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was quoted in the San Mateo Times in an article titled "Gas Prices Could Keep Reaching for the Stars" on March 8. For full text: http://www.insidebayarea.com/sanmateocountytimes/localnews/ci_2600285.

The Haas School of Business was mentioned in the San Mateo County Times in an article titled "Challenges Remain, Glass Ceiling Slowly Cracking" on March 8. The article featured the ninth annual Woman in Leadership Conference. For full text: http://www.insidebayarea.com/sanmateocountytimes/localnews/ci_2600913

Borenstein appeared on the KGO Channel 7 news in a segment titled "Possible Merger Between California's Biggest Oil Companies" on March 3. For a transcript of the segment: http://abclocal.go.com/kgo/business/030305_moneyscope_big_oil.html.

Borenstein was interviewed by several television and radio stations on the topic of energy, gasoline, and oil:
February 28: KNTV NBC11 on the 6:00 p.m. news on Governor Schwartzenegger's million solar homes initiative
March 3: KGO Channel 7 TV 6:00 p.m. news on the world oil market.
March 4: KPIX Channel 5 on both the 5:00 p.m. and 6:30 p.m. broadcasts on gasoline price increases
March 9: KCBS Radio on proposals to lower oil prices
March 9: KTVU 10:00 p.m. news on proposals to lower oil prices

Lisa Feldman, assistant director of MBA recruiting, was quoted in the Career Journal in an article titled "Consulting Firms Court New M.B.A Recruits" on February 8. For full text: http://www.careerjournal.com/salaryhiring/industries/consulting/20050208-gunn.html.

Happening at Haas

"Silicon Valley's New Investment Environment" by Kevin Fong, Managing Director, Mayfield
Wednesday, April 6
4:00 p.m. to 6:00 p.m.
Wells Fargo Room
For more information, contact Susan Reneau at sreneau@haas.berkeley.edu.

Harrison White, Columbia University
Wednesday, March 16
4:00 p.m. to 5:30 p.m.
For more information, contact Deborah Houy at houy@haas.berkeley.edu.

"An Empirical Study of Demand Spillovers Between Albums by the Same Recording Artist," by Alan Sorensen, Stanford University Graduate School of Business
Wednesday, March 16
2:00 p.m. to 3:30 p.m.
For more information, visit http://faculty.haas.berkeley.edu/marko/EAPSeminar2005.htm.  

"Irrational Exuberance and the President's Plan for Personal Accounts" by Robert Shiller, Yale University
Thursday, March 17
4:10 p.m. to 5:40 p.m.
For more information, contact June Wong at june@haas.berkeley.edu.

"Cooperation in the Workplace: Evidence from the Field," by Imran Rasul, University of Chicago
Thursday, March 17
4:00 p.m. to 6:00 p.m.
For more information, contact Anita Stephens at stephens@haas.berkeley.edu.

"The Role of Self Selection and Usage Uncertainty in the Demand for Local Telephone Service," by Pradeep Chintagunta, University of Chicago
Friday, March 18
4:00 p.m. to 5:30 p.m.
For more information, contact Laura Gardner at Lgardner@haas.berkeley.edu.

Judith White, Dartmouth College
Wednesday, March 30
4:00 p.m. to 5:30 p.m.
For more information, contact Deborah Houy at houy@haas.berkeley.edu.

"How do Incumbent Respond to the Threat of Entry? Evidence from the Major Airlines," by Austan Goolsbee, Chicago Graduate School of Business
Wednesday, March 30
2:00 p.m. to 3:30 p.m.
For more information, visit http://faculty.haas.berkeley.edu/marko/EAPSeminar2005.htm.

Thursday, March 31
4:10 p.m. to 5:40 p.m.
For more information, contact June Wong at june@haas.berkeley.edu.

"Tacit Knowledge, Uncertainty, and Startups" by Brent Goldfarb, University of Maryland
Thursday, March 31
4:00 p.m. to 6:00 p.m.
For more information, contact Anita Stephens at stephens@haas.berkeley.edu.

Alumni Events

The Big Bopper Baby Boomer Career Conference: "Overcoming Challenges Facing the Mid-Career Professional"
Saturday, March 19
9:15 a.m. to 3:30 p.m.
The Haas School of Business
Price: $95.00
Spaces Available: 100
Register at Acteva.
Are you wondering what to do next in your career? How do you know if it is time to move to greener acres? How have others dealt with the challenges you are facing? Getting smart, staying competitive, and leveraging your wisdom, maturity, and work ethic in today's volatile economy are career topics we will address to help you avoid becoming lost in space.
Join our team of experts as we examine new ways of managing your career. To register and learn more about the session topics and presenter bios, visit http://www.acteva.com//booking.cfm?bevaID=84038.
For more information, email alumnicareers@haas.berkeley.edu.

Third Annual Gap Event, Stem Cell Panel
Wednesday, March 23
6:00 p.m. to 9:00 p.m.
Gap Headquarters, 2 Folsom Street, San Francisco
Edward Penhoet, president of the Gordon and Betty Moore Foundation and former dean of UC Berkeley's School of Public Health, will discuss the complexities and promise of stem cell research with Robert Tjian, the Howard Hughes Investigator and Professor of Biochemistry and Molecular Biology at UC Berkeley. Penhoet currently serves as vice chair of the Independent Citizen's Oversight Committee of the California Institute for Regenerative Medicine. The institute, which was created as a result of Proposition 71 last fall, will invest $3 billion to support stem cell research. The host for the evening is Don Fisher, BS 50, chairman emeritus and founder of the board, Gap Inc., and a member of the Haas School Advisory Board.
Admission is free, but registration is required at http://www.acteva.com/booking.cfm?bevaid=83611.
Space is limited.
For more information, contact the Haas Alumni Relations Office at 510-642-7790 or alumni@haas.berkeley.edu.

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