Haas School Faculty Hold Impromptu Teach-in on Financial Turmoil


A professor at the teach-in


As soon as the collapse of Lehman Brothers became news, on the very same morning AIG’s federal bailout was announced, and amidst the market’s ongoing meltdown, Haas School faculty held an impromptu discussion of the causes, consequences, and impact of the current financial crisis.


"We are in a financial hurricane," Haas School FinanceProfessor Jim Wilcox told a crowd of students, faculty, staff members, and others packed into the school's Bank of America Forum during the Financial Forum teach-in held during the lunch hour on Tuesday, Sept. 16. "This is going to be a very uncomfortable winter coming up."


In addition to Wilcox, the panel included Hayne Leland, Arno Rayner Professor of Finance and Management; Dwight Jaffee, Willis Booth Professor of Banking, Finance and Real Estate; and Linda Kreitzman, executive director of the Haas School Master's in Financial Engineering Program.


Dean Rich Lyons introduced the panel and answered students' questions following the discussion. The goal of the discussion: To help students determine how they can adapt to these changing world markets to better navigate the job market, manage their financial portfolio, and become stronger business leaders.


"The bad times have arrived," Kreitzman acknowledged. However, she also stressed that she believes in any economy, there are always jobs and firms looking for talent. "There are a lot of companies that are doing very well," she pointed out. And "our students are very good."


Indeed, although the demise of three of the five top investment banks in such a short time is a historical first during peacetime, the companies remaining are thinking about how to snap up the top talent at the firms that have folded, noted Lyons, who was chief learning officer at Goldman Sachs in New York before becoming dean.


Jaffee predicted consequences of the turmoil would likely include inflation, higher interest rates, and more defaults on mortgages that are one level above subprime status. He also predicted that the real turmoil could spread to the commercial real estate market. That's because many big building owners have loans that must be paid off in full in five years or else refinanced -- and the credit crunch means they won't be able to refinance, he said.


Jaffee noted that banks and the US Treasury may be touting programs such as Hope Now to help homeowners in trouble, but called those efforts "smoke and mirrors." "It's not hope, it's hopeless," he said.


Leland, however, pointed out that inflation could actually bring some relief in the housing market by raising real estate values back above water.


Still, Leland called the financial turmoil "the worst crisis seen since the Great Depression." In terms of solutions, he argued that if the government is bailing out companies, "there has to be a quid pro quo" in the form of regulation and more transparency. "Limiting leverage would be the key," he said.


Jaffee pointed out how too much leverage -- a 200-to-1 leverage ratio -- was a huge contributor to the troubles of Freddie Mac and Fannie Mae, whose collapse he had been predicting for years. "I told you so," he said.


Wilcox, the Kruttschnitt Family Professor of Financial Institutions, noted that macroeconomists had been "baffled" by the extent of the leverage and lack of volatility in the markets in the years leading up to what he called "the recession of 2008."


"People got lulled into thinking ... risks were smaller," added Leland. Now as a result of the turmoil, "leverage will be cut back," he predicted.


To see a video excerpt of the discussion, visit http://video.haas.berkeley.edu:24874/ramgen/OMT/FinForum091608.rm





Toyota Visionary to Speak on Changing Global Trends, Oct. 1


Tetsuya Kaida


Does building cars out of seaweed sound out of this world? Not necessarily so to Tetsuya Kaida, founder and general manager of Toyota Motor Corp.'s Business Revolution Corporate Value Project Department, who will speak Wednesday, Oct. 1, at the Haas School.


Kaida will talk about how Toyota is adapting to changing global trends in lifestyles, values, cultures, and emotions from 4:00 p.m. to 6:00 p.m. in the Arthur Andersen Auditorium. Kaida, who is known for integrating philosophical ideas into actual design, heads a department that operates as an internal business strategy consultancy within Toyota and reports directly to the company's board of directors.


Kaida created the Business Revolution Corporate Value Project Department in January 2007 after working for Toyota for nearly 14 years in several divisions, including service, marketing development, and product planning. Kaida has argued for designing kinder, gentler cars inspired by Japanese culture and its emphasis on harmony with nature. In keeping with that philosophy, Toyota has come out with concept cars with transparent floors, huge windows and doors that slide like Japanese "shoji'' screens, and a version of the Prius made with a lighter material called carbon fiber reinforced plastic.


Kaida's presentation, organized by the Clausen Center for International Business and Policy, will be open to the public.





GE CEO Jeff Immelt Talks to Haas Community about Innovation


Jeff Immelt


Startups and venture capitalists aren't the only ones innovating, says Jeff Immelt, chairman and CEO of General Electric.


The massive conglomerate takes advantage of its scale and financial resources to innovate and grow in such fields as energy and health care, Immelt told a packed crowd in the Arthur Andersen Auditorium on Sept. 9.


"Professors teach you why GE shouldn't exist," Immelt said during the Dean's Speaker Series event. But in the past 30 years, the 125-year-old conglomerate has grown an average 12 percent a year, he noted. Not bad for a company expected to post $185 billion in revenue this year, Immelt pointed out.


"What we've tried to do is make scale an advantage," he says. "We bet on big things. We bet big on clean energy. We bet big on clean water," he added. "We want to own clean tech."


Unlike some Silicon Valley venture capitalists, Immelt said he believes "good enough" technology or the "second-best solution," combined with scale, quality, and safety, will ultimately win out in the clean energy field.


GE also relies on globalization to drive growth, Immelt said. "Your careers are going to be determined by globalization and technology. Learn the world," he told students. "What's going to be in vogue is solving some of the world's largest problems."





Stephanie Tibbetts, COO in the Lester Center, Passes Away


Stephanie Tibbetts, the chief operating officer at the Lester Center for Entrepreneurship and Innovation, passed away Sunday evening after a courageous battle against cancer. She was 67.


Tibbetts joined the staff of the Lester Center in 1991, just shortly after its founding. Since that time, she has been instrumental in the Lester Center's many innovations and new programs, including the Berkeley Entrepreneurs Forum and the UC Berkeley Business Plan Competition, said Jerry Engel, the center's executive director.

 

"She has helped generations of students toward their dreams and inspired all of us who knew her with her energy, wisdom and great warmth," Engel said. "She just never let the challenge of dealing with the illness divert her from her focus on being part of the Haas family."

 

Tibbetts involved her whole family in the Cal experience, Engel added, noting how even her daughter followed in her footsteps by taking a similar position at the College of Engineering. Tibbetts also loved to travel and recently went to Alaska with her husband, Jeff.

 

In addition to her husband, Tibbetts is survived by her daughter, Rachel, and son, Robert. Tibbetts's family plans to hold a private service in her memory.



Faculty Spotlight: Prof. Roberts Studies Strategy to Defend Against Asteroids


Dr. Karlene Roberts


Haas School Professor Karlene Roberts has never donned a spacesuit nor orbited the planet, but she still was tapped to help a committee of astronauts, diplomats, and legal experts find ways to mitigate the impact of an asteroid hitting Earth.


After two years of work, Roberts will join that committee -- the Association of Space Explorers Committee on Near Earth Objects -- in presenting its findings, "Asteroid Threats: A Call for Global Response," at a press conference Thursday, Sept. 25, in San Francisco. A full report will be presented to the United Nations in early 2009.


The committee, whose chairman is Apollo 9 astronaut Rusty Schweickart, was formed to work with world leaders and organizations on preparations to protect the planet from near earth object impacts. The committee invited Roberts to share her expertise in risk management and organizational behavior. Roberts studies and advises organizations and systems in which errors can have catastrophic consequences, such as air control towers, nuclear submarines, and the medical industry.


"This is not an astronomy problem," Roberts says. "It is a financial problem, an accounting problem, an international problem, an organizational problem, a political problem, and a problem that needs to be solved by public and private enterprise coming together." Asteroids, often referred to as space rocks, potentially pose enormous danger to the planet.


In a June 2008 Atlantic Monthly article, journalist Gregg Easterbrook wrote, "astronomers are nervously tracking 99942 Apophis, an asteroid with a slight chance of striking Earth in April 2036 ... it could hit with about 60,000 times the force of the Hiroshima bomb - enough to destroy an area the size of France."


The Association of Space Explorers is an international nonprofit professional and educational organization of over 320 individuals from 373 nations who have flown in space.





Prof. Edelstein Sheds Light on Subprime Lending Crisis


Dr. Robert Edelstein


Haas School Professor Robert Edelstein, co-chairman of Haas School's Fisher Center for Real Estate and Urban Economics, shared his insights and recommendations on the subprime lending crisis earlier this month at a meeting of the Hudson Institute's Subprime Crisis Research Council.


On Sept. 15, Edelstein told the council that one solution to the crisis is restructuring the financial system for appropriate risk management through a new set of super-regulators, similar to the formation of the Securities and Exchange Commission, Fannie Mae, and Freddie Mac back in the 1930s. "An expanded financial sector with appropriate comprehensive regulation, de facto, will create insurance for property values. We need policy that is ahead of the curve, not reactive," Edelstein says.


In his white paper presentation, Edelstein found the market's vulnerabilities to be the diminution of underwriting quality; inexperience of owner-borrowers; financial "wizardry"; and aggressive, risk-taking investors. He spoke about how understanding variation in exposure and experience across state and metropolitan areas should be used to shape policy.


Edelstein said the wide range in house prices nationwide as well as other factors including homeowner age, household size, ownership rates, and government regulations influenced both the level and outcome of exposure.


Edelstein said future policy must achieve stability in the housing market by retaining high home-ownership rates, arresting drastic value slides, maintaining ownership incentives for households with negative equity, and normalizing new and existing market activity.


Establishing liquidity in the mortgage market is also essential to policy, Edelstein said. In the short term, Edelstein concludes, "the stabilization of home prices is critical, and the controlled rebound of financial institutions through carefully designed government intervention that dilutes existing equity and debt participants fairly is essential." Over the long term, he recommends that the housing market rebalances renter and homeowner subsidies and develops revised standards for "subprime" low-income borrower, based on repayment experience. Edelstein also advises a reduction of moral hazard and adverse selection by synchronizing cash flow with longer term outcomes and expanding regulation of financial markets through insurance funds, improving underwriting standards, and enhanced capital requirements.


The Fisher Center's Ashok Bardhan, senior research associate, and Cynthia Kroll, senior regional economist, contributed to the white paper presentation before the Subprime Crisis Research Council, a bipartisan group of academic, public policy, and professional experts.


The council's purpose is to review, discuss, and make recommendations on legislation related to subprime mortgages, the housing market, and the overall financial sector. The council is funded by a special grant from the Homer Hoyt Institute, an independent nonprofit research and education foundation, and supplemented by industry.





Senior Lecturer William Sonnenschein Serves Madagascar President


William Sonnenschein


Haas School Senior Lecturer William Sonnenschein has been named special adviser on leadership and communication to the president of Madagascar. Sonnenschein's work for President Marc Ravalomanana will emphasize sustainable development for this African island nation, which is one of the world's most economically impoverished, yet environmentally rich.


"Seventy-five percent of Madagascar's rain forests have been destroyed, endangering many species of endemic flora and fauna - more than 80 percent of which are found nowhere else on Earth," says Sonnenschein. "The country needs development as well as conservation and reforesting of the environment."


Sonnenschein met Ravalomanana through the president's chief-of-staff, who studied with Sonnenschein in the Beahrs Environmental Leadership Program, a UC Berkeley program for mid-career environmental professionals. Sonnenschein, who also teaches the Haas School's core MBA course on leadership communication, was tapped by Ravalomanana to help him develop leaders who can build harmony between business, agricultural development, and the environment.


"For instance, how do you show traditional slash-and-burn farmers that they are not only destroying their environment, leaving more and more land useless, but also that they can have better yields and healthier goods through modern methods," says Sonnenschein. He notes that one answer lies in the oral tradition of the country and in training the community chiefs in leadership communication. "We tell stories to create culture; if we tell new stories we can begin to change the culture," says Sonnenschein.


Sonnenschein, who spent May and June in Madagascar, already has created a nationwide leadership training program for mayors and community chiefs, conducted short workshops for the president's staff, written presidential speeches, and met with cabinet members. He returns in October for six months and is planning a conference to bring together businesses and environmental leaders.


Sonnenschein also is planning a Women in Leadership conference for Madagascar. "Most development people I've talked with claim that women's equality is the key to sustainable development," he says.





Financial Reporting Conference to Feature Accounting Standards Leaders


Accounting leaders -- including the chairmen of nationally and internationally recognized accounting standards boards -- will gather to discuss issues facing the evolving industry at the 19th Annual Berkeley Conference on Financial Reporting on Oct. 24.


The conference, sponsored by the Haas School's Center for Financial Reporting and Management, will be held from 7:30 a.m. to 5:00 p.m. at the Santa Clara Marriott Hotel.


Sir David Tweedie, chairman of the International Accounting Standards Board, and Robert Hertz, chairman of the Financial Accounting Standards Board, will speak on "The Path to Global Reporting: Opportunities and Challenges," for the morning keynote.


Lunch keynote speech will be given by Gregory Jonas, managing director of Moody's Investors Service, who will discuss "Lessons Learned from the Subprime Debacle and Credit Crisis."


Solomon Darwin, executive director of the Center for Financial Reporting and Management, will open the conference, followed by the presentation of the Berkeley Award for Distinguished Contributions to Financial Reporting. The award, which Lyons will present, recognizes an individual who has shown uncommon leadership and courage in providing financial information useful to investors. Warren Buffett, chairman and CEO of Berkshire Hathaway, won the award last year.


Panel discussions featuring corporate financial executives, regulators, and academic and professional accountants will cover specific changes in the industry, such as new initiatives by the Securities and Exchange Commission.


For registration and a detailed schedule for the conference, visit http://groups.haas.berkeley.edu/accounting/conferences&programs/19annual.





Prominent Executives to Share Knowledge at Haas This Fall


Executives from Apple to IDEO and Mozilla to McKinsey will take the lectern this fall as guest speakers in Haas School classes and lecture series. Here is a preview of some of those executives who will share hard-won wisdom from the front lines of high-tech, consulting, venture capital, entrepreneurship, and design this fall:


Bill Hambrecht, founder of W.R. Hambrecht & Co., and Mark Kvamme, partner with Sequoia Capital, are among the speakers who will address Venture Capital and Private Equity (EWMBA 295B) taught by Jerry Engel, executive Director of the Lester Center for Entrepreneurship and Innovation, and Lecturers Sean Foote and Terry Opdendyk.


Partners from numerous venture capital firms, such as Contego Capital and Renaissance Technologies will speak in Lecturer Robert Matjeles's Investing in Entrepreneurial Opportunities course (MBA 295G-1). Lecturer Jim Schorr will present social entrepreneurs and investors in Social Enterprise & Entrepreneurship (MBA 292T-2). These include Premal Sha, president of Kiva, and Mitchell Baker, founder and chairman of Mozilla.


Students interested in entrepreneurship will hear from a number of successful alumni, including James Hong, MBA 99, founder of Hot or Not; Kristin Groos Richmond, MBA 06, and Kirsten Tobey, co-founders of Revolution Foods, winner of the 2007 Global Social Venture Competition; and Matt Caspari, MBA 06, co-founder and CEO of Aurora Biofuels, winner of the 2006 Berkeley Business Plan Competition and the 2006 Intel+Berkeley Technology Entrepreneurship Challenge. All will speak in Life as an Entrepreneur (MBA 294-1) organized by Adrian Greystoke, MBA 09, with Lecturer David Charron.


Rusty Rueff, co-author of the book Talent Force: A New Manifesto for the Human Side of Business, former CEO of SNOCAP, and former executive vice president at Electronic Arts, will address Jonathan Leonard's Strategy, Structure, and Incentive (MBA 210) class. Leonard, the George Quist Chair in Business Ethics, is also bringing to campus Sue Cook, former vice president of global operations for Hewlett-Packard, and Paul Henderson, managing director with Clarify LLC.


A number of alumni will speak in the Marketing Strategy class (MBA 299M), taught by J. Miguel Villas Boas, the J. Gary Shansby Professor of Marketing Strategy. These include Trevor Traina, MBA 96, founder & chairman of SchemaLogic, and Marc Singer, BS 86, a partner with McKinsey & Co.


In Senior Lecturer Sara Beckman's course on managing the new product development process (MBA 290P-1 and MBA 290N-2), a number of speakers from firms such as IDEO and PointForward will share design perspectives. John Foraker, MBA 94, CEO of Annie's Homegrown, a natural food company, also will speak to the class.


Jihong Sanderson, executive director of the Center for Research on Chinese and American Strategic Cooperation, will bring a number of speakers to her course on doing business in China. George Koo, the new senior adviser of China Group, Deloitte, and Tan Zhi, CEO of FocusMedia, China's leading digital media company, are among the guest lecturers.


The Management of Technology (MOT) Program launches its lecture series on Wednesday, Oct. 15 at 4:00 p.m. with Tony Fadell, senior vice president of Apple's iPod division. Other speakers include John Chen, chairman, CEO, and president of Sybase, who will speak on Wednesday, Nov. 12.





New Golf Tournament to Team Students with Industry Leaders, Oct. 3


Berkeley MBA students have organized a new golf tournament, the Haas PRO/AM, that will provide an opportunity to network with business professionals and raise money for the Special Olympics.


The Haas PRO/AM will be held at the Metropolitan Golf Links in Oakland at 7:00 a.m. Oct. 3. Teams of three amateurs and one professional will be created using a scramble format. All proceeds will benefit the Special Olympics through Challenge4Charity and the Haas for Students Fund, two Berkeley MBA fundraisers.


The idea for the tournament from came from Peejay Ronquillo, MBA 09, who was inspired by a past corporate event that provided junior-level employees with coveted executive face-time. To make it happen at Haas, he linked up with an enthusiastic group of student volunteers, including Uday Ayyagari, Kaan Ersun, Omar Garriott, Ty Henson, Bo Leung, Kristine Liu, Brian My, Brandon Purcell, and Amir Zelazny, all MBA 09.


The cost to participate is $75 per golfer and includes breakfast and a barbecue lunch. Although the deadline to register was Sept. 19, interested parties should contact haasproam@gmail.com as spaces on the waiting list may still be available. Golfers at all skill levels are welcome.





Social Impact Week to Focus on Careers with a Conscience


Students curious about leveraging their business degrees for the greater social good can scout out their options at the first-ever Social Impact Week, Sept. 29 through Oct. 3.


The week of events is organized by the Haas School chapter of Net Impact in conjunction with the Berkeley Energy and Resources Collaborative, the Global Social Venture Competition, Global Initiatives at Haas, and the Education Leadership Club. A range of career paths -- including corporate social responsibility, clean energy, international development, nonprofits, and education -- will be explored during the week.


William Rosenzweig, co-founder and CEO of the Republic of Tea and former senior vice president of Odwalla, will give a keynote address at 7:30 p.m. Monday, Sept. 29, in the Wells Fargo Room. Rosenzweig, who lectures on social entrepreneurship through the Haas School's Center for Responsible Business, has been a leader in sustainable business for more than two decades.


Other events include a career panel, a corporate social responsibility forum, and a talk by Kevin Jones of Good Capital on investing in social change. Students can network at an alumni mixer featuring Kristin Groos Richmond, MBA 06, founder and CEO of Revolution Foods, from 7:00 p.m. to 9:00 p.m. Thursday, Sept. 29. An inter-grad school social mixer is planned for Friday, Oct. 3.


"We are experiencing a fundamental shift in the role that business is taking in society," says Mira Inbar, MBA 09, who is co-organizing the week with Mike Lee, MBA 09. "The goal of this week is to raise the consciousness of all MBA students to do well and to do good."


During the week, students also will be collecting old electronics to take to the e-Waste recycling facility in Berkeley. The following items can be dropped off in the MBA Lounge: laptops and PCs, all computer-related accessories, cell phones, used CDs and DVDs, and small appliances such as microwaves.


For a full schedule and event locations, see http://groups.haas.berkeley.edu/netimpact/.





Staff News


Three Staff Members Recognized for Service to Haas


Three Haas School staff members received service awards at the community town hall meeting Sept. 18 in recognition for their many years of service.


June Wong, faculty assistant for the Haas Finance Group, received a standing ovation as she received her award for 40 years of service at the Haas School. Dean Rich Lyons, formerly a Haas finance professor, said Wong has been "instrumental" to the Haas Finance Group. "I think we've retained a lot of faculty because of you," Lyons said.


Phil Mahoney, associate director of student computing, was recognized by Haas School Chief Technology Officer Zane Cooper for his 10 years of continuous service to Haas. Cooper noted that Mahoney has worked at Haas two times for a total of 12 years, interrupted by a stint at Arthur Andersen.


Martin Eyestone, digital media administrator, was recognized for his 10 years of service at UC Berkeley, including eight years at Haas. If anyone has watched Haas video on the Web, it's probably thanks to Eyestone, noted Dana Lund, director of Haas Media Services, who presented the award to him.


Meg Fellner Hired as Event Coordinator in Dean's Office


Meg Fellner joined the Dean's Office Sept. 15 as a new event coordinator.


Fellner brings a wealth of experience in event planning and management to Haas. She comes to Haas us from the Political Sciences Department, where she managed high-level events including the Travers Conference on Ethics and Accountability. Fellner earned a BA in political economy of industrial societies from Cal.

In her spare time, Fellner enjoys being a spectator at various sporting events for her 3 children, going to Cal football games, gardening and Master’s swimming.

Email: Meg_Fellner@haas.berkeley.edu
Phone: 642-3442
Office: Dean's Suite


Elizabeth Merkel Hired in MBA Admissions


Elisabeth Merkel joined the Haas School Aug. 25 as the assistant director of Part-time MBA Admissions. She is heading up marketing efforts for the Evening & Weekend MBCA and Berkeley-Columbia Executive MBA programs and working on admissions for the Evening & Weekend MBA Program.


Merkel comes to Haas from Boston, where she worked in financial services executive search. She also worked at St. George's School, an independent secondary school in Newport, R.I., as the assistant dean of students and residential faculty member. She has a BA from the College of the Holy Cross in Worcester, Mass., and a MA from Middlebury College in Middlebury, Vt.


Outside of work, Merkel's interests include family, friends and travel.


Email: elisabeth_merkel@haas.berkeley.edu
Phone: 642-0249
Office: S440E


Rebecca Miller-Ricksen Takes New Position in Career Services


Rebecca Miller-Ricksen, formerly program coordinator for MBA Career Services, became a project manager in that department on Sept. 8. She will be providing operational and programming support for alumni from the Evening & Weekend MBA, Berkeley Columbia Executive MBA, and Full-Time MBA programs.


Miller-Ricksen has worked in MBA Career Services for two years. She came to Haas from Robert Half International, where she worked in internal human resources. She attended Cal as an undergraduate, and earned degrees in Spanish and comparative literature.


Email: rricksen@haas.berkeley.edu
Phone: 643-4363
Office: S420E


Krissie Rothermel Joins Haas Marketing and Communications Staff


Krissie Rothermal joined the Haas Marketing and Communications Office Sept. 4 as a senior marketing manager.


Rothermal came to Haas from Boston, where she worked as a brand planner at LehmanMillet, a medical marketing agency. She has also worked in both traditional and online media planning at advertising agencies in Boston and New York on brands such as Lowes Home Improvement, Marriott International, and TJMaxx/Marshalls/HomeGoods. Rothermel earned a BS in commerce from the University of Virginia's McIntire School of Commerce and a MS in Mass Communication from the Brandcenter at Virginia Commonwealth University.


In her spare time, Rothermal enjoys playing tennis, running, and exploring San Francisco and the West Coast.


Email: krissie_rothermel@haas.berkeley.edu
Phone: 643-7503
Office: S544


Hilary Schiraldi Joins Long Library


Hilary Schiraldi began working with the Haas community Sept. 15 as a new reference/instruction/data librarian in the Long Library.


Schiraldi comes to Haas from Credit Suisse in New York, where she did research for investment banking analysts. She brings experience in the training for and use of data resources used by faculty and graduate students. After a few weeks of orientation, Schiraldi will be available to continue the library teaching and training programs for Haas students.


Outside of work, Schiraldi enjoys hiking, crafting, cooking, and eating.


Email: hschiral@library.berkeley.edu
Phone: 643-6471
Office: Long Library S364





Haas in the News - As of 9/22/08


Jim Wilcox, a member of the Haas Economic Analysis and Policy Group and Finance Group, was quoted in a San Francisco Chronicle article September 21 titled " Mixed reviews of relief plan sent to Congress."
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/21/MN28131DBP.DTL&hw=kathleen+pender&sn=001&sc=1000


Wilcox also appeared in several TV interviews September 20 and September 21:

+ KRON Channel 4

+ KPIX CBS Channel 5

+ KTVU Channel 2

+ KGO Channel 7

 

Wilcox joined AirTalk show host Larry Mantle three times – September 19, September 18 and September 16 -- at KPCC, southern California’s NPR affiliate, for a discussion of the financial market turmoil.

www.scpr.org/programs/airtalk/


Dwight Jaffee, a member of the Haas Real Estate and Finance groups, participated in a live New York Times op-ed session on September 18.
http://topics.blogs.nytimes.com/tag/wall-street/


Jaffee and Wilcox were interviewed about the economy and the bailout of AIG on September. 17 on KTVU Channel 2.
http://www.ktvu.com/video/17492392/index.html


Wilcox was also interviewed on the economy on two other media outlets September 17:
+ KPIX Channel 5
+ ABC Channel 7


Dean Richard Lyons was interviewed about Wall Street and the current economic fallout in a September 17 KQED segment titled "Financial Institution Shakeup."
http://www.kqed.org/radio/programs/forum/


Severin Borenstein, a professor in the Haas Economic Analysis and Policy Group, was quoted about online reverse auctions for power suppliers in a September 17 Courant article titled "Energy Auctions Benefit State." http://www.courant.com/business/hc-powerbuy0917.artsep17,0,2435341.story


Jaffee and Wilcox were quoted about the commercial real estate sector in a September 16 ABC story titled "Government announces loan to save AIG."
http://abclocal.go.com/kfsn/story?section=news/business&id=6396055


Hayne Leland, a professor in the Haas Finance Group, was quoted about the economic crisis in a September 16 Daily Californian article titled "Downturn May Hurt Students Seeking Private Loans."
http://www.dailycal.org/article/102662/downturn_may_hurt_students_seeking_private_loans


Wilcox was interviewed on the purchase of Merrill Lynch by Bank of America by several media outlets:


+ NPR Morning Edition, September 16,
http://www.npr.org/templates/story/story.php?storyId=94658950
+ Sydney Morning Herald, September 15,
http://news.smh.com.au/business/bank-of-america-to-buy-merrill-20080915-4guh.html
+ KCBS, September 15, http://www.kcbs.com/The-KCBS-Newsroom/472843
+ New York Times, September 14, http://www.nytimes.com/2008/09/15/business/15merrill.html
+ BusinessWeek, September 14, http://www.businessweek.com/ap/financialnews/D936RPT80.htm
+ HB Mortgage Article, September 14, http://hbmortgageoracle.wordpress.com/2008/09/14/bank-of-america-agrees-to-buy-merrill-lynch-in-a-deal-worth-about-50-billion/
+ WBZ TV, September 14, http://wbztv.com/national/Lehman.brothers.barclays.2.817253.html


Dean Richard Lyons was interviewed about Wall Street and the current economic fallout in a September 17 KQED segment titled "Financial Institution Shakeup."
http://www.kqed.org/radio/programs/forum/


Jaffee was quoted on Fannie Mae and Freddie Mac and private markets in a September 13 New York Times article titled "All Grown Up and, Some Say, Unneeded." http://www.nytimes.com/2008/09/14/weekinreview/14labaton.html?_r=1&ref=weekinreview&oref


The Dow Chemical Company Foundation's $10 million donation to establish new sustainable products and solutions program was mentioned in a September 10 CNBC article titled "Dow: Top Chemical Company in Dow Jones Sustainability Index." http://www.moneycontrol.com/india/news/pressnews/dow-top-chemical-companydow-jones-sustainability-index/20/50/355725


The Fisher Information Technology Center's collaboration with Stanford's Center for Integrated Facility Engineering in sponsoring a roundtable called "Meeting the Demand for Sustainable Buildings" was featured in a September 10 Stanford Report article titled "Hennessy Outlines 'Green' Building Plans."
http://news-service.stanford.edu/news/2008/september10/hennessy-091008.html


Karen Salvini, MBA 09, co-vice president for sustainability in the Haas School's Net Impact chapter, was quoted on the school's use of a compost service for consumption functions in a September 9 BusinessWeek package of articles about business schools adopting green practices.
http://images.businessweek.com/ss/08/09/0910_green_campus/5.htm


Borenstein was quoted on current solar technology in a September 8 Eureka Reporter article titled "Solar Power's Overpromise."
http://www.eurekareporter.com/article/080908-solar-power%E2%80%99s-overpromise


Wilcox was quoted on the scarcity and high price of credit in a September 8 San Francisco Chronicle titled "Hard Time to Get New Credit," which was also picked up by several blogs:


+ San Francisco Chronicle, http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/07/MNJ612JCT8.DTL


+ NJHeloc, http://njhelocheaven.blogspot.com/2008/09/difficulties-in-obtaining-credit.html


+ The Housing Bubble Blog, http://thehousingbubbleblog.com/?p=4920


+ Property Guide, http://www.propertyguide.ws/term/real-loan-real-loss-wealth-california.xhtml


Wilcox and Thomas Davidoff, an assistant professor in the Haas Real Estate Group, were interviewed September 8 by Tom Vacar on KTVU Channel 2 news about the bailout of Freddie Mac and Fannie Mae.
http://www.ktvu.com/video/17424780/index.html


Peter Johnson, director of MBA admissions, was quoted about the requirements of applicants to work for two year after finishing undergraduate school in a September 7 Daily Californian article titled "Advanced Degrees Offer New Take on Student Life." http://www.dailycal.org/article/102503/advanced_degrees_offer_new_take_on_student_life


Peter Bucklin, a professor emeritus, was quoted on the different qualities job-seekers are looking for in a potential employer in a September 7 Daily Californian article titled "Grads Keep Look-Out for Best Companies." http://www.dailycal.org/article/102499/grads_keep_look-out_for_best_companies


Thomas Davidoff, an assistant professor in the Haas Real Estate Group, was quoted on the difficulty of job hunting in the financial industry in a September 8 Daily Californian article titled "Fiercer Fight." http://www.dailycal.org/article/102500/fiercer_fight





Happening at Haas


International Business Development Conference
Friday, September 26
8:30 a.m. to 5:00 p.m.
Arthur Andersen Auditorium
For more information, visit http://www.haas.berkeley.edu/HaasGlobal/IBDconference.htm.


Net Impact - Social Impact Week
September 29 to October 3
The program will include a Social Impact Careers 101 session, an alumni cocktail reception, a corporate social responsibility debate, and an inter-grad school science fair.
For more information, visit http://groups.haas.berkeley.edu/netimpact/.


Tetsuya Kaida,
Founder and General Manager, Business Revolution Corporate Value Project Dept.
Toyota Motor Corp.

Wednesday, October 1
4:00 p.m. to 6:00 p.m.
Arthur Andersen Auditorium
For more information, visit http://www.haas.berkeley.edu/HaasGlobal/events.htm.


19th Annual Conference on Financial Accounting
Friday, October 24
7:30 a.m. to 5:00 p.m.
Santa Clara Marriott Hotel
For registration and a detailed schedule of the conference, visit http://groups.haas.berkeley.edu/accounting/conferences&programs/19annual.


SEMINARS


LESTER CENTER FOR ENTREPRENEURSHIP & INNOVATION
Berkeley Entrepreneurs Forum
"The Halo Effect: Pitfalls to Entrepreneurial Success"
Philip Rosenzweig, Winner of California Management Review's Accenture Award
Thursday, September 25
6:30 p.m. to 8:30 p.m.
Bank of America Forum and Arthur Andersen Auditorium
For more information: http://entrepreneurship.berkeley.edu/bef/sep08forum.html
Registration: http://entrepreneurship.berkeley.edu/bef/regpark.html


Entrepreneurial Best Practices Series: Opportunity Recognition for Entrepreneurs and Launch of the Berkeley Business Plan Competition and Global Social Venture Competition
Monday, October 13
6:30 p.m. to 8:30 p.m.
Stanley Hall, Room 106
Open to the Public
For more information, visit http://entrepreneurship.berkeley.edu/resources/bestpractices.html.


MARKETING SEMINARS
For more information, contact Donna Seaward at dseaward@haas.berkeley.edu.


James Sawhill (Haas School Ph.D. Candidate)
Are Capital and Operating Costs Weighted Equally in Durable Goods Purchases? Evidence from the US Automobile Market
Thursday, September 25
4:00 p.m. to 5:30 p.m.
Cheit Hall 250


Yakov Bart (Haas School Ph.D. Candidate)
Multiproduct Competition and Demand Complementarity
Friday, September 26
4:00 p.m. to 5:30 p.m.
Cheit Hall 220


Derek Rucker (Northwestern University)
Lifestyles of the Powerless and Powerful: How Power Shapes Consumption
Tuesday, September 30
4:00 p.m. to 5:30 p.m.
Cheit Hall 250


Mario Capizzani (Haas School Ph.D. Candidate)
Auctions: Do Auctioneers Matter?
Thursday, October 2
4:00 p.m. to 5:30 p.m.
Cheit Hall 250


OLIVER E. WILLIAMSON SEMINAR ON INSTITUTIONAL ANALYSIS
Nick Epley, Graduate School of Business, University of Chicago
Wednesday, October 1
4:00 p.m. to 5:30 p.m.
Cheit Hall 330


Adam Galinsky, Kellogg School of Management, Northwestern University
Wednesday, October 8
4:00 p.m. to 5:30 p.m.
Cheit Hall 330


FINANCE SEMINARS
For more information, contact June Wong at june@haas.berkeley.edu.


Itay Goldstein, University of Pennsylvania
Thursday, October 2
4:10 p.m. to 5:40 p.m.
Cheit Hall 210


ORGANIZATIONAL BEHAVIOR AND INDUSTRIAL RELATIONS SEMINARS
For more information, contact Clifford Mak at cliff_mak@haas.berkeley.edu.


Nancy Rothbard, Wharton School
Wednesday, September 24
4:00 p.m. to 5:30 p.m.
C330 Cheit Hall
Nick Epley, University of Chicago
Wednesday, October 1
4:00 p.m. to 5:30 p.m.
Cheit Hall 330


Adam Galinsky, Haas School visiting professor
Kellogg School of Management
Wednesdasy, Oct. 1
4:00 p.m. to 5:30 p.m.
Cheit Hall 330


OPEN INNOVATION LECTURE SERIES
Carol Mimura, Assistant Vice Chancellor for Intellectual Property & Industry Research Alliances, UC-Berkeley
Wednesday, September 24
4:00 p.m. to 5:30 p.m.
Hearst Mining and Minerals Building, Room 290


Alpheus Bingham, founder, director, former chairman of the board, former CEO, InnoCentive, Inc.
Wednesday, October 8
4:00 p.m. to 5:30 p.m.
Hearst Mining and Minerals Building, Room 290


BERKELEY LAW LECTURE SERIES
"Re-arranging Deck chairs on the Titanic? The Future of Financial Regulation"
Monday, September 22
12:40 p.m. to 1:40 p.m.
2240 Piedmont, behind Boalt Hall
Registration: Register online at BCLBE@law.berkeley.edu or contact Phyliss Martinez at (510) 642-0532


ALUMNI EVENTS


NEW YORK ALUMNI
Columbia Career Event
"Bridge Jobs: Getting There From Here"
Monday, September 22
Marriott East Side, 525 Lexington Avenue, New York
Registration: E-mail Alexandra Dreyer at alumnievents@gsb.columbia.edu


NEW YORK ALUMNI
LGBT MBA Information Session
Monday, September 22
6:30 p.m. to 8:30 p.m.
Lehman Brothers Conference Room 26-B, 745 7th Avenue, New York
Registration: This event is available to alumni through invitation only. Interested alumni should email Jason Topel for more information at jason_topel@mba.berkeley.edu


SAN FRANCISCO ALUMNI
LGBT Business Plan Loan Factory Workshop: Presentation of Business Plans
Tuesday, September 23
8:00 a.m. to 10:00 a.m.
The San Francisco LGBT Community Center, 1800 Market Street, San Francisco
Registration: E-mail TraceyW@SFCenter.org or call (415) 865-5611


SOUTH BAY ALUMNI
Inside Web 2.0 Strategy Panel Discussion
Tuesday, September 23
6:15 p.m. to 8:30 p.m.
Kellogg Auditorium, Silicon Valley Bank, 3005 Tasman Drive, Santa Clara
Registration: http://tickets.commonwealthclub.org/auto_choose_ga.asp?area=1 or 408-280-5842
Cost: $20


SOUTH BAY ALUMNI
Panel Discussion: Leadership in Challenging Times
Wednesday, September 24
8:30 a.m. to 11:30 a.m.
Santa Clara Marriott, 2700 Mission College Boulevard, Santa Clara
Registration: go to http://www.directorsroundtable.com and click on "Current Events and Registration"


ORANGE COUNTY ALUMNI
Happy Hour at Strike Orange County
Wednesday September 24
6:30 p.m. 9:00 p.m.
Strike Orange County, The District at Tustin Legacy, 2405 Park Ave, Tustin
RSVP: contact Annie at haasocalumni@yahoo.com or call (949) 439-2652


BAY AREA BCEMBA ALUMNI
Berkeley-Columbia Monthly Silicon Valley Happy Hour
Thursday, September 25
6:30 p.m. to 8:30 p.m.
Nola's Restaurant & Bar, 535 Ramona Street, Palo Alto


NEW YORK ALUMNI
Entertainment, Marketing, and New Media Supper Club
Thursday, September 25
7:00 p.m. to 9:00 p.m.
Landmarc Restaurant at the Time Warner Center, 10 Columbus Cir # 3, New York
RSVP: Daniel Fitzhugh, dfitzhugh@gmail.com
Cost: $80 per person


SWISS ALUMNI
2nd Joint Alumni Conference
Friday, September 26
7:30 a.m. to 9:30 p.m.
Swiss Re Centre for Global Dialogue in Rüschlikon/Zürich
Registration: http://www.alumniconference.org/


SOUTH BAY ALUMNI
Keiretsu Forum and Intel Capital Present: Funding Alternatives
Tuesday, September 30
6:00 p.m. to 8:30 p.m.
Intel Capital, 2200 Mission College Boulevard, Santa Clara
Registration: http://fundingalternatives.eventbrite.com/
Cost: $25, includes registration and a light dinner/refreshments


BAY AREA ALUMNI
Berkeley-Columbia Alumni Council Speaker Event Series: Professor Ray Fisman
Wednesday, October 1
6:30 p.m. to 8:30 p.m.
J.P. Morgan, 560 Mission Street, 20th Floor, San Francisco
Cost: $20


BAY AREA ALUMNI
"Mommy Track'd": an Event for Executive Moms
Thursday, October 2
4:30 p.m. to 8:30 p.m.
Intercontinental Hotel, 888 Howard Street, San Francisco
Registration: http://www.mommytrackd.com/events
Cost: $75, includes light dinner and gift bag


ALL ALUMNI
Haas Homecoming Celebration
Saturday, October 4
9:00 a.m. to 12:30 p.m.
Haas School of Business
Registration: www.haas.berkeley.edu/alumni/homecoming
Cost: $25 Alumni, $15 Faculty/Staff/Students, $10 Children 5-17, Children under 5 get in free






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