Haas NewsWire

Haas NewsWire, April 14, 2003

** The next event in the Dean's Lecture Series, "An Analysis of a White-Collar Crime - a Study in Corporate Failure" by Walter Pavlo, takes place this Wednesday, April 16 at 4:30 p.m. in the Arthur Andersen Auditorium. Seating is first-come, first-serve. For more information contact Susie Hanna at hanna@haas.berkeley.edu.**

Haas Student Team Among Big Winners at National Social Venture Competition
Haas Students Win Financial Engineering Case Competition in New York
Haas Undergraduate to Receive University's Top Honor for Graduating Senior
Six Finalists Face off in the UC Berkeley Business Plan Competition
President of Fetzer Vineyards to Give Earth Day Speech on April 21
Learning to Adapt: Joint Seminar on Thriving in Today's Economy
Sign up Now for the Faculty and Staff vs. Students Softball Game
Haas in the News
Happening at Haas

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A student team from the Haas School was among the winners at the final judging round of the National Social Venture Competition held at Columbia Business School in New York City on Saturday, April 12. Winners and finalists shared prizes totaling $80,000.

The competition, a partnership of the Haas School of Business, Columbia Business School, and The Goldman Sachs Foundation, is the only business school competition fostering the creation of businesses and nonprofit organizations that are profitable or financially sustainable and can demonstrate a quantifiable social return on investment. At the Haas School, it is hosted by the Lester Center for Entrepreneurship & Innovation.

The winners are:

$25,000 Grand Prize for Best Blended Value Business Category -- for plans demonstrating the highest, most integrated financial and social returns:

$25,000 Grand Prize for the Medium-growth Category -- for plans demonstrating significant social impact with a longer path to profitability:

$25,000 Grand Prize for the High-growth Category -- for plans demonstrating financial profitability within 5 years:

$5,000 Prize for Outstanding Social Return on Investment (SROI) Analysis:

Ten teams competed in Saturday's final round of judging. Each finalist team received $1,000 to $2,000 in travel money to attend the final competition in New York City. The teams were judged by leading representatives from foundations, investors and venture capital, and academia who have been on the forefront of this quickly growing field of social entrepreneurship.

The 2003 competition attracted 95 business plan submissions -- a 23% increase over last year - representing 40 business schools from the United States, England, France and Spain. The plans covered a broad spectrum of education, technology, health, community development, and environmental industries.

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A combined Berkeley MBA/Master's in Financial Engineering student team won the 6th annual Financial Engineering Competition in New York against teams from some of the top schools in the country, including Carnegie Mellon, Chicago, Columbia, MIT, and Wharton.

The Berkeley team included Allen Cheung, MFE 03; Matt O'Hara, MFE 03; Nate Anthony, MFE 03; and Bob Basso, MBA 03.

At the competition each team was given six hours to prepare a case on credit derivatives that required them to come up with a creative financial solution to a client's business problem, to price that solution, and to prepare a convincing presentation to the client that explains why they should go with that solution.

The teams are graded by a panel of judges that includes both academics and non-academics on the basis of the creativity and appropriateness of the solution proposed, their analysis and valuation of the solution, and on the quality and salesmanship of their final presentation.

"While there was some debate among the judges over which team should be awarded second place, there was no doubt at all over the award for first place," says Haas School Professor Richard Stanton. "In particular, both of the judges from Lehman Brothers put our team easily ahead of any of the other schools."

This competition is sponsored by Lehman Brothers and Appaloosa Capital Management, and took place at Lehman Brothers' office in New York. Details on the competition may be found at http://www.gsia.cmu.edu/afs/andrew/gsia/finclub/securitycase/index.htm.

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UC Berkeley has named Ankur Luthra, a senior who is double-majoring in business administration and electrical engineering and computer sciences (EECS), the University Medalist for 2003.

Each year the University Medal is awarded to the most distinguished graduating senior on the Berkeley campus. This award was established in 1871 by Henry Huntly Haight, then governor of California.

"I not surprised that the campus has joined us in singing Ankur's praises," says Dean Tom Campbell. "He is an excellent and committed student, and a role model for others at Haas." Luthra was also named a Rhodes Scholar in December of 2002. See the full story at http://www.haas.berkeley.edu/groups/newspubs/haasnews/archives/hn121002.html.

Luthra, who maintains a 4.0 grade point average, has worked on game-theory models of the Internet and on artificial intelligence projects designed to improve robots' throwing skills. Luthra is also studying the business of non-profit organizations at the Haas School.

In just the past three years, Luthra has been awarded 14 scholarships and awards. Among those honors are the Regents', Barry M. Goldwater, and Donald A. Strauss scholarships. He is a member of several honor societies, including Phi Beta Kappa and Mensa.

The last time a University Medal was awarded to a business major was in 1935 to Florence De Gottardi, who was a student in the College of Commerce (the previous name for the business program at UC Berkeley). A complete list of all previous medallists is available at http://uga.berkeley.edu/fao/Prizes/Umedal_Archives.htm. The medal will be awarded at UC Berkeley's Commencement Convocation on May 15.

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The six teams that have made it to the final phase of the UC Berkeley Business Plan Competition now have eight days to polish up their business plans before the final round judging and awards presentations on April 22 and 23.

The six finalists are:

The finalists emerged from a field of 21 semi-finalists at the April 4 semi-final round of the competition.

On April 22, all six teams will once again pitch their plans to a new set of venture capitalists judges in a private setting. The following evening, teams will make their presentations for the last time in front of a public audience. The event culminates when the first-, second-, and third- prize winners, as determined by the judges, will be announced for winnings of $65,000 in cash prizes, and the "People's Choice Award" for a $5,000 cash prize is determined by the audience.

The final event, which will be open to the general public, will take place on Wednesday, April 23, at 6:30 p.m. in the Arthur Andersen Auditorium.

The lead sponsors for the competition are Allegis Capital, ComVentures, and Sevin Rosen Funds. The competition receives academic sponsorship and support from the Haas School's Lester Center for Entrepreneurship & Innovation. See http://bplan.berkeley.edu/ for more information.

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Paul Dolan, president of Fetzer Vineyards, will share his broad vision of socially responsible business at the Haas School's annual Earth Day lecture on Monday, April 21 at 5:00 p.m. in the Wells Fargo Room.

On top of striving to make the highest quality, best valued wines in the marketplace Fetzer Vineyards has worked to develop sustainable business practices under Dolan's tutelage since the late 80s. The lecture is part of the Peterson Lecture Series and is co-sponsored by Net Impact and the Center for Responsible Business.

A few highlights of Fetzer's accomplishments in this area include: became the industry leader in farming grapes organically; established company-wide recycling centers and saved thousands of dollars in dump fees by reducing the amount of material hauled to landfills by 93%; created a large composting program that incorporates all of the stems and seeds from the winery's crushed grapes; and created a natural filtration system for handling winery wastewater in 1998.

For more details on Fetzer Vineyard's commitment to socially responsible business, visit http://www.fetzer.com/home2.html.

For more information on this event, contact Denise Mooney at dmooney@haas.berkeley.edu.

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The Haas School's Center for Financial Reporting and Management (CFRM) and KPMG LLP are jointly hosting a seminar titled "Thriving in Today's Changing Business and Economic Landscape" on May 1 at the Palace Hotel in San Francisco.

This seminar focuses on the new face of corporate governance, how to measure and manage financial risk, and the current economic outlook. In addition, the legal aspects of the auditor and audit committee relationship, the status of the new Public Company Accounting Oversight Board, and steps to implement the provisions of the Sarbanes-Oxley Act, will be covered.

The seminar will take place from 7:30 a.m. to 12:00 p.m. The cost is $250 per person; $200 for each additional person from the same company. To register call 510-642-6334 or e-mail cfrm@haas.berkeley.edu. For more information visit http://www.haas.berkeley.edu/accounting/cfrm/conferences/may2003.

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Now is the time to search the garage for that old softball glove and join in the fun at the annual faculty and staff vs. students softball challenge game, scheduled for Friday, April 25, at North Field (next to Barrows Hall) at 4:00 p.m.

E-mail General Manager Gundars Strads at strads@haas.berkeley.edu to participate. Skill and experience in this particular sport are not prerequisites -- cheerleaders are also welcome. "Last year, the faculty and staff team humiliated the opposition," says Strads. "Please help up keep this tradition alive." Haas Professor David Vogel will coach this year's faculty and staff team.

Students should contact Keith Kilpatrick at kilpatri@haas.berkeley.edu, Rob Ricketts at ricketts@haas.berkeley.edu, or Alejandro Borgia at borgia@haas.berkeley.edu for the student team.

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Haas in the News

Marcy Porus-Gottlieb, co-director of Alumni Relations, and John Morel, associate director for alumni & part-time MBA Career Services, were both quoted in the article, "MBA Alums Seek Help in a Difficult Job Market," on CollegeJournal.com, which is part of the Wall Street Journal.

The 2003 UC Berkeley Business Plan Competition was featured in the East Bay Business Times on April 10 in the article, "UC-Berkeley business plan contest reaches climax." Read the full article at http://eastbay.bizjournals.com/eastbay/stories/2003/04/07/daily27.html.

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, commented on the possibility of greater imports of Iraqi oil after the war on the ABC 7 News on April 10. Read the full article, titled "Activists Outline Plans to Shut Down Chevron Offices," at http://abclocal.go.com/kgo/news/041003_nw_chevron_protest.html.

Severin Borenstein remarked on a proposed bill, which would end California's deregulated energy market in the following news sources:

Assistant Professor Terrance Odean was extensively quoted in the Boston Globe on April 10 in an article regarding investor behavior, specifically overconfident investors. Read the full article, titled "Your Money: Investors shouldn't let overconfidence sidetrack financial goals," at http://www.boston.com/dailyglobe2/100/business/Investors_shouldn_t _let_overconfidence_sidetrack_financial_goals+.shtml.

Severin Borenstein commented on the discrepancy between wholesale gas prices and consumer gas prices in the San Francisco Chronicle on April 8. Read the full article, titled "Pump prices lagging crude," at http://www.sfgate.com/cgi-bin/article.cgi? file=/chronicle/archive/2003/04/08/BU253139.DTL&type=printable.

Severin Borenstein appeared on NPR's Marketplace Morning Report on April 3 in an interview on world oil markets. The interview is available at http://www.marketplace.org/morning_report/mmr_archive.html.

Peter Sealey, adjunct professor of marketing, was extensively quoted in ShootOnline on March 21 in the article, "Peter Sealey Predicts TV Spot Demise." Read the full article at http://www.shootonline.com/shootonline/archives/article_display.jsp?vnu_content_id=1843325.

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