Haas NewsWire

Haas NewsWire, April 7, 2003

California Treasurer Angelides to be 2003 Commencement Speaker
Haas Welcomes This Year's New Class of Master's in Financial Engineering Students
Rose and Vogel Go Head to Head Over Trade Liberalization
Berkeley MBA Programs Rank #7 in New US News Survey
Campus Opened to Community for Cal Day
Haas Recognizes Excellence in Teaching Through Club 6
Haas International Programs Change Location Due to SARS Warnings
Consulting Firm Gives Haas Top Marks on Sexual-Orientation Issues
Faculty News
Haas in the News
Happening at Haas

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California State Treasurer Phil Angelides will speak to the graduating students of the Haas School of Business class of 2003 at a commencement ceremony to be held on the University of California, Berkeley, campus on Sunday, May 25, according to Dean Tom Campbell.

"We are delighted that Phil Angelides has agreed to address the graduating students and their families," said Dean Campbell in making the announcement. "This is an outstanding opportunity to hear from a state official who has dedicated his career to both the private sector and public service, and from someone who is a great supporter of our state's educational system."

About 700 degrees will be awarded at the commencement ceremony to students from the school's MBA, Ph.D., and undergraduate business programs. The ceremony, which begins at 9:00 a.m., will be held at the Greek Theatre on campus.

Angelides was first elected California State Treasurer in 1998 and was re-elected to a second four-year term last November.

As Treasurer, Angelides has assumed a national leadership role in advancing corporate reform by using the power of California's investment portfolio in an attempt to restore integrity to the financial markets and to protect taxpayers, pensioners, and families.

In May 2000, Angelides launched a new initiative to target investment capital to broaden economic opportunity throughout the state. Together, the two initiatives have directed more than $12 billion in investments to spur economic progress in California communities.

Angelides is a graduate of Harvard University and a former Coro Foundation Fellow. From 1984 until his first election as State Treasurer, Angelides worked in the private sector, forming his own real estate, investment, and management business. He is also a former chairman of the California Democratic Party.

Recent Haas School commencement speakers have included Thomas M. Siebel, chairman and CEO of Siebel Systems; David Pottruck, CEO and president of Charles Schwab; and Rodrigo Rato, deputy prime minister of Spain.

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The Master's in Financial Engineering Program (MFE) at the Haas School has again recruited a stellar class of 60 new students from around the world, who began the one-year program last week.

The MFE class of 2004 is represented by an international group of highly educated scientists and professionals. Members of the class come from North America, Europe, Asia, Africa, Latin America, and the Middle East. Of the 60 students, 72% are multi-lingual, with 17% speaking three languages in addition to English.

The most common professional backgrounds this year include finance (24%), engineering (17%), and research & development (20%). Many of the students already hold advanced degrees; 8% hold a Ph.D. and 30% hold a master's degree in another field.

"Even though they come from diverse backgrounds and cultures these students immediately bonded -- they are a strong group," says Linda Kreitzman, director of the MFE program.

Now in its third year, the Haas MFE program was the first program in the field in the US offered entirely under the auspices of a business school, teaching financial modeling skills within the context of today's economic realities while offering students access to the business school's career services and worldwide alumni network.

The one-year MFE program prepares candidates with superior analytical skills for a growing niche of quantitative finance careers.

The MFE program is supported by founding sponsors that include some of the world's top financial firms, including AIG Inc.; Barclays Global Investors; BARRA Inc.; Gifford Fong Associates; Goldman Sachs & Co.; Moody's KMV; MBIA Inc.; Morgan Stanley; Quantal International Inc.; The Dean Witter Foundation; Wachovia Securities; and WR Hambrecht + Co., LLC. Additional sponsors include AXA Rosenberg Investment Management LLC; Bank of America Corp.; Bloomberg LP; Fair, Isaac and Company; GW Miller Foundation; Scott Pinkus; and Henry Wan, MFE Class of 2002.

For more information on MFE, visit the web site at http://mfe.haas.berkeley.edu.

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Haas School Professors Andrew Rose and David Vogel will practice their best verbal sparring when they debate each other over whether the US should participate in multilateral trade liberalization.

The annual debate, hosted by the Clausen Center for International Business & Policy, will take place on Wednesday, April 23, in the Arthur Andersen Auditorium at 4:00 p.m. The debate will be followed by a reception in the Bank of America Forum, sponsored by Volkswagen. Volkswagen will also be bringing a few of its latest cars to the Haas courtyard for attendees to view.

This debate will start with short opening statements and will be followed by a question-and-answer period.

"Why is the answer to the debate question 'No'?" asks Rose. "Simple. US participation in multilateral trade liberalization will probably be as successful as US participation in other multilateral ventures. Perhaps my esteemed colleague believes that Hans Blix will be as successful in trade as he was with weapons of mass destruction."

Vogel responds, "A responsible and effective foreign policy combines elements of multilateralism and unilateralism. The WTO should not be confused with the UN. History, a subject that has somehow escaped the grasp of my distinguished junior colleague, clearly demonstrates that a necessary condition to reduce trade barriers, and thus enhance global economic welfare, is international cooperation, led by the US. At this moment in history, to turn our backs on an international agreement that might provide the developing world increased market access to the US, the EU, and Japan is . . . well, (for once) words fail me."

In addition, the winners of the Clausen Fellowships, awarded annually to business undergraduate and Berkeley MBA students who have shown an outstanding commitment to the field of international business, will be announced. Eligible students can apply for the fellowships until April 15. For application guidelines, visit http://www.haas.berkeley.edu/HaasGlobal/clausenfellows.htm.

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The Full-time and the Evening and Weekend Berkeley MBA Programs at the Haas School were both ranked 7th best in the nation in the latest annual survey by US News and World Report magazine.

The Haas School's Full-time Program ranking, which was the best showing of any public business school, was up from last year's 10th place rating. Haas tied with Duke University's Fuqua School for 7th place this year.

The US News survey of full-time MBA programs is based on the opinions of peer institutions and recruiters and the 2002 admissions and placement data of the schools surveyed. These factors were weighed as follows: 25% peer institutions' assessment, 16% GMAT scores, 15% recruiter assessment, 14% mean starting salary and bonus, 14% placement rate three months after graduation, 7% at-graduation placement rates, 7.5% undergraduate GPA scores, and 1.25% selectivity in admissions.

In the US News survey, part-time MBA programs -- which includes the Berkeley MBA Evening and Weekend Program -- are rated based on the opinions of deans and MBA directors at the nation's accredited business schools. The Evening and Weekend MBA Program's ranking was unchanged from last year.

The Berkeley MBA Program also placed in the top ten of several specialty categories. All specialty categories are based entirely on the assessment by peer institutions. The Berkeley MBA ranked as follows:

#5 in Nonprofit
#8 in Marketing
#8 in Health Services Administration
#9 in Finance
#9 in International
#9 in Entrepreneurship
#10 in Management

More information on the US News rankings is available at http://www.usnews.com/usnews/edu/grad/rankings/mba/mbaindex_brief.php.

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The UC Berkeley campus will come alive on Saturday, April 12 when it opens its doors to current and future Cal student parents and local community members to explore university research labs, academic departments, and student services across campus at Cal Day.

At the Haas School, degree program offices and student groups have planned events to showcase their corner of campus to the greater community from 9:00 a.m. to 4:00 p.m. on Saturday, April 12.

For a detailed schedule of all Cal Day events, visit http://www.berkeley.edu/calday/.

The day's events at Haas include:

All day events:

11:00 a.m. to noon and 1:00 to 2:00 p.m.

11:00 a.m. to 2:00 p.m.

Noon to 4:00 p.m.

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Andy Shogan, associate dean for instruction, announced the names of the faculty members who made what's known at Haas as "Club 6" for Fall 2002, last week. Club 6 membership requires a median student evaluation rating of at least 6 on a scale of 1 to 7. In addition, 22 professors and instructors received a perfect score of 7. They are listed here (with their respective courses):

Undergraduate: George Cluff (UGBA 119); Caroline Cole (UGBA 196W); Stephen Etter (UGBA 131); Trudy Kehret-Ward (UGBA 165); John Phillips (UGBA 100); David Robinson (UGBA 100); Victor Stanton (UGBA 120A); Miguel Villas-Boas (UGBA 106S); and Nancy Wallace (UGBA 180).

Full-time MBA program: Pino Audia (MBA 205); Stephen Chamberlin (MBA 282); Greg Duffee (MBA 232); Stephen Etter (MBA 294); Rashi Glazer (MBA 206); Ernest Gundling (MBA 257); Andrew Isaacs (MBA 295T); Sharon Landes (MBA 291A); Terry Pearce (MBA 291A); Kristiana Raube (MBA 296); Brett Trueman (MBA 223); William Rosenzweig (MBA 296); and David Vogel (MBA 292T).

Evening and Weekend MBA program: Meghan Busse (EWMBA 299E); Ernest Gundling (EWMBA 257); Mark Rittenberg (EWMBA 291T); William Sonnenschein (EWMBA 291T); Brett Trueman (EWMBA 223); and Suneel Udpa (EWMBA 202).

MFE program: Mukesh Bajaj (MFE 230F) and Francis Longstaff (MFE 230I).

Ph.D. program: David Mowery (Ph.D. 297T) and Miguel Villas-Boas (Ph.D. 269C).

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The SARS illness has led to a change of plans for the two-week international business seminar for evening and weekend MBA students operated each summer by the Haas School of Business.

SARS stands for Severe Acute Respiratory Syndrome.

Sebastian Teunissen, executive director of the Clausen Center for International Business and Policy, said that the July 19 to August 2 Evening and Weekend MBA Seminar has switched its locations from Hong Kong, Shanghai, and Beijing to Mexico, Panama, and Cuba. He said the decision was made after warnings by the US State Department, World Health Organization, and US Centers for Disease Control against travel to the Asian cities on the seminar itinerary.

In 2002, the program took place in Norway, Sweden, Finland, and St. Petersburg, Russia. In 2001, students traveled to Africa, Europe, and Latin America.

The Berkeley-Columbia Executive MBA seminar set to take place in Shanghai and Beijing in September also is being reconsidered due to SARS, Teunissen said.

"We are re-evaluating all of our activities around the world," said Teunissen, noting that in addition to the alarm about SARS, events in the Middle East and North Korea are adding to the uncertainty about some foreign travel.

For the full-time MBA program's International Business Development program, which assigns 16 teams of student consultants to clients with projects around the world, Teunissen said he's finding businesses more cautious this year because of the war, terrorist concerns, and travel restrictions put in place by corporations in some countries. So far, the program has projects arranged in Borneo, India, Tahiti, Finland, and Mexico and is negotiating for additional international projects.

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A recent report by Aplomb Consulting, a company that consults on sexual-orientation issues, found that the nation's top business schools are moving toward greater inclusiveness for their lesbian, gay, bisexual, or transgender faculty members and students. The Haas School received an "A" along with nine other business schools.

The report assigned letter grades to the 21 business schools surveyed, based on criteria such as the availability of domestic-partner benefits and job opportunities.

The business schools receiving an A grade are those at Columbia University, Dartmouth College, Harvard University, Massachusetts Institute of Technology, Northwestern University, Stanford University, University of California at Berkeley, University of California at Los Angeles, University of Chicago, and University of Pennsylvania.

For more information, visit http://www.aplomb.com/.

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Sara Beckman to Serve on The Future State Board

Sara Beckman, senior lecturer with security of employment, has been appointed to the Board of Directors of The Future State, Inc. Beckman has been teaching one of the school's most popular courses, Managing New Product Development, and manufacturing and operations management courses since 1987. She has also taught at Stanford University and MIT, and before joining the faculty at Haas, worked in Hewlett Packard's corporate organization and in Booz, Allen and Hamilton's operations consulting sector.

Edelstein and Nellis Reappointed to Berkeley Art Museum and Pacific Film Archive Board of Trustees

The UC Berkeley Art Museum and Pacific Film Archive (BAM/PFA) announced that lecturer and attorney Noel W. Nellis has been re-elected as vice president of the board and Professor Robert Edelstein as treasurer and chair of the Finance Committee.

Nellis, who is a UC Berkeley alumnus, is a partner with Orrick, Herrington & Sutcliffe and has been a member of the BAM/PFA Board of Trustees for 12 years. At Haas, he teaches the Top Down Law course in the MBA Program.

Edelstein is a real estate development professor at Haas and co-chairman of the Fisher Center for Real Estate and Urban Economics. His research focuses on real estate economics and international real estate cycles.

Terry Pearce Named to National Endowment for Financial Education Board of Trustees

The National Endowment for Financial Education (NEFE), an independent nonprofit foundation supporting financial education, named Haas School Lecturer Terry Pearce to its board on March 26. Pearce is the founder of Leadership Communication, his consulting firm that provides one-on-one coaching and leadership communication programs, and a former senior vice president of executive communication for Charles Schwab & Co.

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Haas in the News

John Hanke, MBA 96, appeared on NPR on April 3 in an interview about his new company, Keyhole, whose 3D technology is being used by CNN's, ABC's, and CBS's cameras for the Iraq war coverage.

Cynthia Kroll, regional economist for the Fisher Center, commented on the market values of the Bay Area's largest public companies in the San Francisco Chronicle on March 30. Read the full article, titled "Local firms see losses shrink," at http://www.sfgate.com/cgi-bin/article.cgi? file=/chronicle/archive/2003/04/06/BU307298.DTL&type=printable.

Sebastian Teunissen, executive director of the Clausen Center for International Business and Policy, commented on his decision to alter the travel plans for the International Business Development Seminar after the SARS scare on KGO Radio on April 4 and on KRON 4 News on April 3. Read the KRON 4 transcript at http://www.kron4.com/Global/story.asp?S=1215565&nav=5D7lF294. He was also in the Oakland Tribune discussing the same topic on April 4.

The Haas School of Business was mentioned in the Duke Chronicle on April 4 in relation to the US News and World Report rankings. Read the full article, titled "Schools gains little ground in most recent rankings," at http://www.chronicle.duke.edu/vnews/display.v/ART/2003/04/04/ 3e8d816be2474.

David Levine, professor in the Economic Analysis and Policy Group, remarked on high CEO salaries in KRON 4 News on April 3. Read the full article, titled "Despite Layoffs, CEOs Cashing In," at http://www.kron4.com/Global/story.asp?S=1215574.

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, commented on the $3.2 billion House plan for airlines in The Guardian (UK) on April 2. Read the full article, titled "Lawmakers Raise Ante for Airline Relief," at http://www.guardian.co.uk/uslatest/story/0,1282,-2527535,00.html. The Almanac featured Kevin Brown and Jenny Redo, both MBA 96, on April 2 in its article, "Kevin's Kitchen." The article also mentions that Dean Tom Campbell will be the guest of honor at a donor's appreciation cocktail party for the Class of 1996 at Haas. Read the full article at http://www.calmanac.com/thisweek/2003_04_02.cook.html.

Severin Borenstein commented on the possibility of increased oil exports from post-war Iraq in the Benicia News on April 2. Read the full article, titled "Flow of Iraqi Oil through Contra Costa County stopped for now," at http://www.benicianews.com/articles/index.cfm?artOID=30769& webpage=0&s=1.

The Haas School of Business was mentioned in the Purdue Exponent on April 1 in the article, "Schools start screening for scandals." Read the full article at http://www.purdueexponent.org/interface/bebop/showstory.php? date=2003/04/01§ion=campus&storyid=MBAapps.

Severin Borenstein commented on whether energy companies shut down power plants to increase electricity prices in the San Diego Union-Tribune on April 1 in the article, "Intentional idling of power plants questioned."

Peter Sealey, adjunct professor in the Marketing Group, was quoted in the San Francisco Chronicle on March 30 in the article, "Opinionated and open for debate." Read the full article at http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/03/30/ BU245473.DTL&type=business.

Severin Borenstein was interviewed by:

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