Janet Yellen Named to the Academy of Arts and Sciences
Semiconductor Technology Takes First Place in UC Berkeley B-Plan Competition
Haas Leads Western Business Schools in Quirky Wall Street Journal Ranking
Berkeley Team Wins Advertising Case Competition
Haas in the News
Happening at Haas
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JANET YELLEN NAMED TO THE ACADEMY OF ARTS AND SCIENCES
Janet Yellen, the Eugene E. & Catherine T. Trefethen Professor of Business Administration, was named a fellow of the American Academy of Arts and Sciences on April 26, 2001. Members of this year's class included 211 distinguished scholars, scientists, artists, business executives, educators, and public officials. They were honored for their achievements in fields ranging from mathematics to medicine, from computer science to literary criticism, and from public affairs to the performing arts.
"Janet Yellen is well-deserving of this honor," says Ben Hermalin, associate dean of academic affairs. "She is one of the leading economists of her generation. Her work covers so many areas within economics that it is difficult to characterize, except to note that it is all uniformly excellent and always exhibits great clarity of thought. Her works are always about matters of interest, usually of importance to policy debates, and they provide tremendous insights into these matters."
Yellen's work includes major contributions in international economics, macroeconomics, microeconomics, labor economics, and the economics of social policy. Her writing has often focused on federal economic policy issues. She has served as Chair of the Council of Economic Advisers and as a member of the Board of Governors of the Federal Reserve. Her writings on bundling and advertising (micro) and "near-rational" theory of business cycles are much cited, as are her papers on neighborhoods, crime, and teen pregnancy.
She graduated summa cum laude from Brown University with a degree in economics in 1967 and received her Ph.D. in economics from Yale University in 1971.
"You cannot help but learn from -- and be persuaded by -- reading a Yellen article," says Hermalin. "Although presumably not a factor in her receiving this honor, it is a pleasure to observe, nonetheless, that Professor Yellen is also an excellent teacher and a valued citizen of the Haas School and campus."
The academy has numbered among its members each generation's finest minds and most influential leaders, from George Washington and Ben Franklin in the eighteenth century to Daniel Webster and Ralph Waldo Emerson in the nineteenth and Albert Einstein and Winston Churchill in the twentieth. The current membership of 3,600 Fellows and 600 Foreign Honorary Members features more than 150 Nobel laureates and 50 Pulitzer Prize winners.
The new class is composed of 185 Fellows, along with 26 Foreign Honorary Members from 14 nations. New Fellows are nominated and elected by current members of the academy. More information is available at http://www.amacad.org/news/new2001.htm.
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SEMICONDUCTOR TECHNOLOGY TAKES FIRST PLACE IN UC BERKELEY B-PLAN COMPETITION
RAPT Technologies, which has developed a dramatically faster and more cost-effective technology for etching and polishing optical and semiconductor materials, has won the third annual UC Berkeley Business Plan Competition. The Haas MBA organizers of the competition announced the three winning teams, which share more than $90,000 in cash and prizes, at Wednesday's final awards ceremony.
"The quality of the plans was extremely high," said Michael Powell, managing director of Sofinnova Ventures and a final round judge. "The teams all had their acts together. I would have taken any one of these teams to my partners."
RAPT's technology is able to etch or polish materials without making contact. It is 10 to 10,000 times faster than existing technologies and operates at atmospheric pressure. The idea came from Jeff Carr of the Manufacturing and Materials Division at Lawrence Livermore Laboratory. He was joined by Haas evening MBA student Peter Fiske and Mona Alves, founder, president, and CEO of CHAT Communication Services.
In addition to the $50,000 first prize, RAPT received the $5,000 People's Choice Award, based on votes from the audience -- and independent from the judges -- at the awards ceremony.
The second prize of $25,000 went to biotechnology venture Aprotea Biochips. Aprotea aims to enhance drug discovery with its rapid and easy-to-use protein measurement system. Aprotea developed a patent-pending biochip for parallel analysis of 100 to 10,000 protein samples and is designed to be bio-compatible with virtually all proteins and capture agent libraries.
Haas evening MBA student Thomas McVey joined the Aprotea team, which also includes students from Boalt Hall School of Law and UCSF. Aprotea had previously won second prize for best management team in the Haas Social Venture Competition on April 14.
TruVideo, a wireless video infrastructure company, received the third prize of $10,000. TruVideo offers digital image quality over broadband that is superior to existing technologies. The company intends to take advantage of the convergence of wireless technology and the Internet to become the standard video platform for the emerging web-enabled wireless device market.
The TruVideo team consists of three Haas MBA students, Joseph DelCallar, Steven Stokols, and Raj Manghani, as well as engineering undergraduate Greg Chew and professor of electrical engineering Avideh Zakhor.
All six of the finalist teams have had at least one team member enrolled in "Opportunity Recognition," a course on how to commercialize new technologies taught by Andrew Isaacs, executive director of the Management of Technology program.
More than 65 venture capitalists, angel investors, and successful entrepreneurs served as judges and evaluated the business plan submissions. Another 26 entrepreneurs, professors, and professionals served as mentors to the teams that qualified for the first round and helped them develop their plans.
The keynote speaker at the awards ceremony was Nick Sturiale, MBA 2000, who was the founding CEO of Timbre Technologies. Timbre Technologies, a semiconductor software company that won the 1999 business plan competition, and was sold in February to Japanese company Tokyo Electron Limited for $138 million.
To date, teams from the 1999 and 2000 competitions have raised well over $90 million in venture financing, including 1999 teams:
+ Alloptic- $19.7M (www.alloptic.com);
+ AudioBasket- $29M (www.audiobasket.com);
+ GetRelevant- $4.855M (www.getrelevant.com);
+ Hotpaper- $2M, Acquired for $10M by GoAmerica (www.hotpaper.com);
+ Timbre Technologies- $2.8M (no website); and
+ ZipRealty- $27.7M (www.ziprealty.com).
and 2000 teams:
+ DeltaClick (formerly known as iJacker)- $1.5M (www.deltaclick.com);
+ Onwafer (formerly known as AMS)- $350K (www.onwafer.com);
+ Opient- $400K (www.opient.com); and
+ Skyflow- $3.5M (www.skyflow.com), winner of the 2000 competition.
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HAAS LEADS WESTERN BUSINESS SCHOOLS IN QUIRKY WALL STREET JOURNAL RANKING
The Wall Street Journal ranked the Haas School as the best MBA program in the West in the newest and latest ranking of business schools in a special section of the newspaper on Monday, April 30.
Although the Haas School ranked only 21st out of 50 in the survey, the school's showing outscored all other business schools from the West Coast through the Rocky Mountain states - including Thunderbird (25); UC Irvine (29); UC Davis (34); UCLA/Anderson (36); Brigham Young (41); and, surprisingly, Stanford (45).
This is the first time in any major media ranking of business schools that Haas/Berkeley has done better than Stanford's Graduate School of Business.
The Journal's ranking of business schools -- its first ever -- is based on the opinions of 1,600 MBA recruiters. The schools themselves supplied the names of its recruiters to the newspaper. Each recruiter was asked to rate as many as three schools and was instructed to rate only schools with which he or she had recruiting experience in the previous two years. Under the rules, recruiters who were also alumni of the school at which they recruited were permitted to rate their own alma mater.
The Journal's methodology produced results that are sure to be much discussed and questioned. Traditional powerhouse business schools such as Wharton (18), Columbia (34), Duke (44) and Stanford (45) were significantly outranked by lesser-known business schools such as Purdue (6), Southern Methodist University (9), Wake Forest (11), and Michigan State (12).
In general, schools from the Western States did less well than others in the Journal's ranking, which has also been true of Business Week's survey that is based in part on a smaller survey of recruiters.
The top school in the Journal's ranking was Dartmouth's Tuck School, followed by Carnegie Mellon, Yale, Michigan, and Northwestern/Kellogg.
The editor of the special Journal section, Ron Alsop, told a group of business school deans in New York last week "there are a lot of surprises in the Journal's rankings." Alsop spoke at an annual conference of business schools.
The Journal also listed the Haas School as being among the top 4 schools in the world that excels in the teaching of e-commence subjects, and the 7th best school internationally for its students' entrepreneurial skills. These rankings were also based on recruiter input.
"The results of the Wall Street Journal's survey are clearly controversial, underscoring the need to think deeply about each ranking and what it purports to measure," said Richard Kurovsky, executive director of marketing and communications at the Haas School. "With the continuing proliferation of new rankings, schools that do well in one ranking now find themselves doing less well in the next, forcing everyone to sort out what it all means. This may ultimately be a very good thing for the consumers of rankings."
In other rankings over the past eight months, Haas has placed #7 in US News, #13 in the Financial Times' ranking of international business schools, and #18 in Business Week's survey.
The entire package of Wall Street Journal rankings and related stories can be viewed online at: http://www.careerjournal.com/specialreports/bschoolguide/index.html
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BERKELEY TEAM WINS ADVERTISING CASE COMPETITION
The team of Berkeley undergraduates sponsored by the Haas School Undergraduate Program Office took first place at the American Advertising Federation's National Student Advertising District Case Competition on April 20.
The team of Berkeley undergraduates went head to head with teams from seven other schools across the west at the Academy of Art College in San Francisco. They were asked to create a global marketing campaign for DaimlerChrysler. First place went to UC Berkeley, second place was California State University, Fresno, and third place was the University of Nevada, Reno.
The Cal team will compete the national competition in Cleveland, Ohio, in June. This is the first time a Cal team has been to the national competition in three years. The district competition trophy will be displayed in the Undergraduate Program office. For more information and pictures, please visit http://www.admark.org.
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Assistant to the Executive Director Joins Marketing and Communications Staff
Kerrie Andow Peterson has joined the Marketing and Communications staff as the assistant to Rich Kurovsky. She will be handling administrative tasks, accounting, scheduling, and special projects. Kerrie comes to Haas with eleven years of experience at Genentech. "I left Genentech because I thought I was retiring, but after two years I couldn't stand it." In addition to working part- time four mornings a week (every day but Thursday) at Haas, she also spends her free time as an Aikido instructor. She lives in Moraga.
Kerrie's office is temporarily in S550. She can be reached at 3-9977 or via e-mail at email@example.com. When she moves to her permanent space, her phone number will be 3-7503.
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HAAS IN THE NEWS
The Haas Social Venture Competition was covered by the Financial Times on April 30 in an article titled, "Environment is the Biggest Winner." Rebekah Saul, MBA 02, Josie Taylor, MBA 02, Dean Laura Tyson, and Jerry Engel, executive director of the Lester Center for Entrepreneurship and Innovation, were all quoted in the story.
Janet Yellen, the Eugene E. and Catherine M. Trefethen Professor of Business Administration, was quoted in The New York Times on April 30 in an article titled, "Economists Warn of 'Growth Recession' as US Production Trails Full Capacity." Yellen commented that faster growth is required to keep unemployment from increasing. Read the full text at http://www.nytimes.com/2001/04/29/business/29VIEW.html?searchpv=site01.
Dean Tyson's Economic Viewpoint column in the April 30 issue of Business Week is titled, "Why the New Economy is Here to Stay." Read the full text at: http://www.businessweek.com/magazine/content/01_18/b3730032.htm.
Ken Rosen, the California State Professor of Real Estate and Urban Economics and the chairman of the Fisher Center for Real Estate and Urban Economics, was quoted in the San Francisco Chronicle on April 30 in an article titled, "Change in the Weather." Rosen commented that vacancy rates are rising and that it is difficult to sublease excess space.
Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration and the director of the University of California Energy Institute, was quoted in The New York Times on April 29 on the power crisis. Read the full text at http://www.nytimes.com/2001/04/29/opinion/29KRUG.html?searchpv=site01.
Yellen was quoted in The New York Times on April 29 in an article titled, "Economic View: Have Rate Cuts Lost Their Magic?" Yellen commented that shocks to the economy require monetary policy to work more than before.
Brett Trueman, the Donald and Ruth Seiler Professor of Public Accounting, was quoted in the San Francisco Chronicle on April 29, in an article titled, "Millionaires for a Minute." Trueman commented that while the economic boom was real, people were deluding themselves into thinking it would continue indefinitely. Read the full text at http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/29/MN160971.DTL.
Trueman also appeared on the Channel 2 News on April 29.
Andrew Rose, the Bernard T. Rocca Jr. Professor of International Trade and the director of the Clausen Center for International Business and Policy, was quoted in the Contra Costa Times on April 29. In "Gas Prices, Utility Woes Contribute to Economic Downturn in California," Rose commented that increases in the price of oil often lead to an economic downturn.
James Wilcox, the Kruttschnitt Professor of Financial Institutions, was quoted in the East Bay Business Times on April 27 in an article titled, "In Depth: Banking & Finance." Wilcox commented that banks' earnings, though fluctuating in the past few months, are up.
Senior Lecturer Sara Beckman was written up in the Berkeleyan on April 25 along with the three other recipients of the Distinguished Teaching Award. Read the full text at http://www.berkeley.edu/news/berkeleyan/2001/04/25_teach.html.
The Social Venture Competition winner and the Business Plan Competition Finalists were announced in the Berkeleyan on April 25. Read the full text at http://www.berkeley.edu/news/berkeleyan/2001/04/25_haas.html.
Sara Beckman was mentioned in the San Jose Mercury News April 25, for receiving a Distinguished Teaching Award. Read the article at http://www0.mercurycenter.com/business/top/016181.htm.
Reuven Lehavy, assistant professor in the Accounting Group, was quoted in the San Jose Mercury News on April 26 in an article titled, "JDS to Cut 5,000 Jobs." Lehavy commented that he could not see a justification for JDS to write off $40 billion in goodwill. Read the full text at http://www0.mercurycenter.com/premium/local/docs/alabriefs26.htm
Borenstein was quoted in the Los Angeles Times on April 27 on the federal caps on power prices in California. Borenstein said that the federal rules for price mitigation would not work. Read the full text at: http://www.latimes.com/business/reports/power/lat_power010427.htm.
Borenstein was also quoted in several other papers this week:
Mercury News April 24: http://www0.mercurycenter.com/local/center/rating0425.htm
Mercury News April 27: http://www0.mercurycenter.com/premium/front/docs/PLAN27.htm.
San Francisco Chronicle on April 27: http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/04/27/MN222353.DTL
The Daily Deal on April 26 San Francisco Chronicle on April 25: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/25/MN104049.DTL
The Sacramento Bee on April 25: http://www.sacbee.com/voices/news/voices05_20010425.html
The Contra Costa Times on April on 24: http://www.contracostatimes.com/biztech/stories_business/ostartups_20010424.htm
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HAPPENING AT HAAS