** Mark your calendars for the Dean's End of the Year Party
to be held on Friday, May 9 from 4:00 to 6:00 p.m. in the
Haas School courtyard. The party will include food, beer,
soda, and entertainment as well as the announcement of the
winner of the Cheit Teaching Awards and GSI Awards. ***
Ensuring Diversity and Excellence at Haas
Reviving Silicon Valley at the Heart of Annual Haas/Berkeley New Economy Forum
High School Students Energized About Business by Haas School Competitions
Lester Center Awards Two Entrepreneurial Fellowships
Haas Team Places in the Third Annual MBA Jungle Business Plan Challenge
Forbes Magazine and Carrot Capital Recognize Haas Entrepreneurs
Haas in the News
Happening at Haas
Dean Tom Campbell last week issued a statement on how the Haas School can continue to ensure the diversity and excellence of its students in light of its changing relationship with the Consortium for Graduate Study in Management, a 14-university alliance offering networking and scholarships to underrepresented minorities applying to business schools.
The University of California General Counsel recently advised the school to resign from the board of the Consortium. Proposition 209 prohibits public universities from giving any preferential consideration to individuals on the basis of race, and the Consortium offers support exclusively to students who are underrepresented minorities. This decision has led the Consortium to end its relationship with Haas -- a topic that was addressed in an article in the May 12 issue of Business Week magazine.
"The Business Week article gave the impression that I had severed the relationship with the Consortium," said Dean Campbell. "In actual fact, it was the Consortium that did so, and I am still hopeful of maintaining at least an affiliate status."
Dean Campbell continues to negotiate with Consortium leaders to consider alternative ways in which the school could remain a member.
Said Campbell: "Our school's commitment to achieving and valuing the diversity of our student body remains undiminished."
The dean's statement on ensuring diversity and excellence at Haas and an explanation of the school's changing relationship with the Consortium are available on the Haas School web site at http://www.haas.berkeley.edu/news/20030501_campbell_diversity.html.
Top government officials, leading Silicon Valley business leaders, and distinguished academics discussed ideas for reviving Silicon Valley at the New Economy Forum, titled The Next New New Thing for Silicon Valley, organized by the Haas School of Business, on Monday, May 5.
California Attorney General Bill Lockyer was joined by David W. Feigal, Jr., the director for the Center for Devices and Radiological Health at the Food and Drug Administration; Michael Gallagher, deputy assistant secretary at the U.S. Department of Commerce; Bill Thomas, chairman of the Congressional Ways and Means Committee; and Franklin "Pitch" Johnson, founding partner of Asset Management Co.; on a panel discussing ideas and possible impediments toward reviving the economies of Silicon Valley, California, and the United States as a whole.
The event was hosted at the Portola Valley residence of Walter Shorenstein, a prominent San Francisco Bay Area businessman and philanthropist.
Each year the forum brings together leaders from the technology, venture capital, and financial worlds, top scholars, and high-ranking federal policy makers to discuss trends and policy changes in the New Economy. The annual event, conceived by former Dean Laura D'Andrea Tyson in 2000, is being continued by Dean Tom Campbell.
The board of advisors for the forum includes John Chambers (Cisco); John Doerr (Kleiner Perkins Caufield & Byers); W. Bowman Cutter (E.M. Warburg Pincus); John Gage (Sun Microsystems); George M. Scalise (Semiconductor Industry Association); Eric Schmidt (Google, Inc.); Stephen B. Shepard (Business Week); Walter Shorenstein; and Roger Siboni (E.piphany).
Among the Haas School faculty attending are Professor Janet Yellen, former chairman of the President's Council of Economic Advisors, and Michael Katz, the Edward J. and Mollie Arnold Professor of Business Administration.
Dozens of local high school students from some of the Bay Area's most disadvantaged school districts had an opportunity to show what they have learned through the Young Entrepreneurs at Haas (YEAH) program this past year at the Venture Capital and the Investment Portfolio competitions this April.
Venture Capital Competition
A year of honing their business ideas with the help of MBA mentors culminated in the Youth Venture Capital Competition on Saturday, April 19, when 32 high school students pitched their business plans to a panel of judges from the local business community.
The first place winners were:
"Through YEAH, my mentee not only gained valuable business knowledge, but also greater self-confidence," said Jenni Winslow. "Being a mentor for the YEAH program was by far the most rewarding experience that I've had at Haas this year."
The competition also served as a reunion, as former YEAH student Rodney Acda, who took first place in the Venture Capital competition three years ago, returned to the competition as a judge this year. Acda is now a senior at St. Mary's High School in El Cerrito and was recently admitted to attend UC Berkeley. He was joined by businessman Tom Frainier, owner and founder of SemiFreddi's Bakery, who served as a judge when Acda competed in 2000. The two formed a bond, and Frainier wrote a letter of recommendation for Acda for his college applications.
Investment Portfolio Competition
At the Investment Portfolio Competition, 38 tenth-grade students presented their top investment choices to a panel of judges at Haas on Saturday, April 26.
The teams had spent the past year in the YEAH program using a computer simulation called Stock Quest to learn about the stock market. Each team started the year with a fictional one million dollars to invest and worked with a mentor to learn how to analyze target companies.
At the competition, the teams presented their portfolios, explained the rationale behind their investment choices, and described how those investments fared over a 12-month period. This year's winners were DeVaughndre Broussard, Alberto Fuentes, and Pierre Hudson. All three were mentored by second-year Berkeley MBA Tony Brekke. Each student on the winning team won a $100 savings bond.
Since 1989, the YEAH program has been using the principles and real-life lessons of business, finance, and entrepreneurship to educate under-served youth and support their advancement to higher education. The program has prepared more than one thousand young people for success in college and in the world of business and finance. Currently, the program serves nearly 300 students from dozens of schools in the Berkeley, Oakland, San Francisco, and West Contra Costa school districts.
For more information on YEAH, please visit http://haas.berkeley.edu/yeah or call 510-642-7880.
The Lester Center for Entrepreneurship & Innovation announced the winners of this year's Price Institute and Turner fellowships last week.
The Price Institute Fellowships were given to first-year Berkeley MBA students Ilya Entin and Carter Keller. This $5,000 fellowship is sponsored by The Price Institute for Entrepreneurial Studies and is awarded each year to eligible students interested in an entrepreneurial career.
The Price Institute Fellowships are designed to help identify and nurture entrepreneurial talent. Since 1986, the Price Institute has been awarding fellowships to first-year MBA students at the Haas School to recognize their entrepreneurial aspirations and development. The Price Institute for Entrepreneurial Studies was founded in 1979 by Harold Price, a leader in the foods industry.
The inaugural Turner Fellowship went to Berkeley MBA student Matthew Culligan, who is in his second year of the Evening & Weekend MBA program.
Dan Turner, who attended Haas in the Evening MBA program, funded the Turner Fellowship to support Evening MBA students in their entrepreneurial efforts. One $5,000 fellowship will be awarded to an outstanding Evening MBA student each year.
For more information on the Lester Center, visit http://entrepreneurship.berkeley.edu/.
Medifuel, a team from the Haas School, was the runner-up at the 2003 MBA Jungle Business Plan Challenge in April, winning a start-up package of legal services from Fenwick & West, a law firm sponsoring the event.
Haas team members Ken Bui, MBA 03, and David Tseng, MBA 02, co-founded the startup with Mu Chiao, Ph.D. (UC Berkeley mechanical engineering). The team has invented a tiny battery for implanted surgical devices. The battery is recharged by the normal operation of the body (it runs on tiny trace amounts of glucose) and could thus remove the need for follow-up surgery to replace spent batteries.
Medifuel previously took both the third-place prize of $5,000 and the People's Choice award of $5,000 at the 2003 UC Berkeley Business Plan Competition.
Mobius Microsystems, from the University of Michigan, won the grand prize at the MBA Jungle competition, worth $30,000.
Some 164 teams from more than 100 business schools in the US and abroad competed to be among the eight finalists at the event. Top venture capitalists and entrepreneurship experts served as competition judges.
Berkeley MBA students earned several victories in the Forbes Future Capitalist at the Carrot Capital Business Plan Challenge in New York last week.
Forbes magazine named first-year Berkeley MBA student Enlai Chu the Forbes Future Capitalist at the Carrot Capital Business Plan Challenge in New York last week. Haas team Tarsian & Blinkley, which won the National Social Venture Competition on April 12, was in the second place group of teams, making it eligible to receive up to $500,000 in funding from Carrot Capital. Another Haas team, Ecsponent, was in the fourth place group, making it eligible for up to $100,000 in funding offered by Carrot Capital.
Steve Forbes, president and CEO of Forbes and editor-in-chief of Forbes magazine, said, "Enlai exemplifies the essence of entrepreneurship: the vision to come up with innovative ideas and the energy and ability to turn them into reality."
Enlai's venture, Ancer Pharmaceuticals, was in the fifth place group at the competition. Ancer's technology will lead to an increase in the quality and quantity of antibody therapies for diseases such as cancer, while reducing both manufacturing costs and side effects inherent in current antibody therapeutics.
The Challenge is sponsored by the Carrot Capital Education Foundation, a nonprofit corporation associated with Carrot Capital, LLC. Carrot Capital is a New York-based venture capital firm that invests in seed and early stage businesses. For more information, visit http://www.Challenge2003.com or http://www.CarrotCapital.com.
Dean Emeritus Cheit to Receive Honorary Degree from Mills College Earl F. "Budd" Cheit, dean emeritus at Haas and a Lifetime Mills College trustee, will receive an honorary degree of Doctor of Laws at the 115th Mills College graduation ceremony on Saturday, May 17, 2003.
Budd Cheit is the Edgar F. Kaiser Professor of Business and Public Policy Emeritus at the Haas School. He is receiving the honorary Doctor of Laws for his outstanding record of service to Mills and his contributions to numerous Bay Area institutions of higher education and nonprofit organizations.
Ken Rosen, the California State Professor of Real Estate and Urban Economics, commented on US real estate percentage yields in Forbes on May 2 in the article, "Foreign lenders eye U.S. commercial property deals." Read the full article at http://www.forbes.com/home_europe/newswire/2003/05/02/rtr960124.html.
Assistant professor Terrance Odean commented on the future of the stock market in The New York Times on May 1. Read the full article, titled "Will New Rules on Wall Street Matter Much to Investors?" at http://www.nytimes.com/2003/05/01/business/01WALL.html?pagewanted=print&position=.
Abby Scott, director of MBA career services, commented on job prospects of recent MBA graduates in the San Francisco Chronicle on May 1. Berkeley MBA student Shabbir Sharif, MBA 03, who was hired by Amazon.com, commented on his job-searching strategy. Haas student James Eron, MBA 03, was also quoted. Read the full article, titled "Into the real world; Market tight, but newly minted MBAs," at http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/05/01/BU19851.DTL&type=printable.
Abby Scott was also interviewed about the job outlook for graduating students for the KPIX Channel 5 television news on Friday, May 1.
David Vogel, the George Quist Professor of Business Ethics, remarked on the anti-sweatshop campaigns in the US in the Christian Science Monitor on May 1 in the article, "Rejecting Bad Company." Read the full text at http://www.csmonitor.com/2003/0501/p11s02-lire.html.
Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, commented on the California gasoline market in the North County Times on April 29. Read the full article, titled "Gas price average slips just below $2 a gallon," at http://www.nctimes.net/news/2003/20030429/64149.html.
Ken Rosen was featured in Datamonitor Company Profiles on April 29 in the article, "Golden West Financial Corporation - Key Employees." Rosen serves as a director on the Non-Executive Board of Golden West.
John Morel remarked on his alumni and career-services position at Haas in The Wall Street Journal Europe on April 28 in the article, "Business Education - Alsop on Education: Jobless MBA Alumni Turn to Schools for Aid."
A paper by Severin Borenstein was extensively quoted in the Dow Jones Newswires on April 28 in the article, "Study: Mid-Sized Airports Most Hurt by Airline Bankruptcy." Read the full article at http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20030429/ON200304291620001444.var&column=P0DEC.
The UC Berkeley Business Plan Competition winners, including
Berkeley MBA students David Geisler, MBA 03, and Robert Lee,
MBA 03, were featured in the following news sources:
Brett Trueman, the Donald and Ruth Seiler Professor of Public Accounting, remarked on accounting principles and how companies decide what can be classified as an expense in the Los Angeles Business Journal on April 14 in the article, "Accounting for differences: Analyst's report forces a quiet CSC to lift its veil."
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