Haas NewsWire

Haas NewsWire, October 21, 2002

Reminder: Women in Leadership Conference To Be Held This Weekend
Financial Reporting Conference Explores Emerging Issues, Stock Option Expensing, and Off-Balance Sheet Financing, Nov. 8
Entrepreneurs Forum to Discuss State of Angel Investing In Difficult Times; October 24
Inventors and Investors Come Together at New Berkeley Technology Leadership Forum, Oct. 24
Undergraduates To Compete in the Final Round of Investment Banking Case Competition , Oct. 22
Haas in the News
Happening at Haas

Haas NewsWire Archive
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***Reminder: Women in Leadership Conference Convenes Sat. Oct. 26***

Patricia Woertz, executive vice president at ChevronTexaco Corp., and Ginger Graham, advisor to the president at Guidant Corporation, will give the keynote speeches at the 7th annual Women in Leadership (WIL) Conference, titled Women Changing the Face of Business.

The conference will take place this Saturday, October 26, from 8:00 a.m. to 5 p.m. Tickets to the conference are available on a first-come, first-served basis. To register or to obtain more information, please go to www.wilconference.org.

The WIL conference, sponsored by the Guidant Foundation, is a celebration of women's successes both within and outside the workplace. It is the oldest MBA student-organized event at the Haas School and attracts participants from around the greater Bay Area.

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Financial Reporting Conference Explores Emerging Issues, Stock Option Expensing, and Off-Balance Sheet Financing, Nov. 8

US Congressman James Greenwood will be the keynote speaker at the Thirteenth Annual Conference on Financial Reporting (CFRM), organized by the Haas School's Center for Financial Reporting & Management, on Friday, Nov. 8, in San Francisco.

Haas School faculty Rada Brooks, Alan Cerf, Brett Trueman, and Xiao-Jun Zhang, will join accounting standard setters; enforcement officials; corporate financial executives; and professional accountants in discussing emerging issues in financial accounting and corporate reporting.

This year's conference includes sessions on stock option and off-balance sheet financing, representing both sides of the debate. The session on off-balance financing will review developments that have been in the news lately, including the new Exposure Draft by the Financial Accounting Standards Board (FASB) on the consolidation of special-purpose entities.

Katherine Schipper, a member of the FASB, will give the opening address. A recipient of the American Accounting Association's Outstanding Educator award, she previously held the L. Palmer Fox Chair of Business Administration at Duke University's Fuqua School of Business and has served on the boards of both a public company and a mutual fund.

US Congressman James Greenwood represents the 8th congressional district of Pennsylvania. As chairman of the Energy and Commerce Subcommittee on Oversight and Investigations, Greenwood and his staff have conducted investigations of the recent corporate scandals, including Enron and WorldCom. He has also held hearings on topics ranging from corporate governance to bioterrorism to the safety of nuclear power plants. He is an original cosponsor of a FASB Act to provide greater transparency in the financial reports of publicly traded companies.

To register, please visit http://www.haas.berkeley.edu/accounting/cfrm/conferences/13annual/, or call Dayna Haugh, assistant director of CFRM, at (510) 642-6334, for more information.

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Entrepreneurs Forum to Discuss State of Angel Investing In Difficult Times; Oct. 24

Founders of angel (individual) investor networks will share their perspectives and expectations for the immediate and longer-term vitality of angel investing at the Oct. 24 UC Berkeley Entrepreneurs Forum, a monthly networking event hosted by the Lester Center for Entrepreneurship & Innovation.

The forum, entitled, "Where Have All the Angels Gone?" will be held from 6:30-8:30 p.m. in the Haas School's Auditorium and is open to students, faculty, staff, and the general public.

The panel discussion will represent a wide range of angel investor networks, from informal networks of individual investors to venture capital-like organizations. Panelists will include Randy Williams, The Keiretsu Forum; Frank Ruderman, Tenex Medical Investors; Steve Stephansen, Sand Hill Angels; Jeff Lindgren, Diablo Venture Alliance; and Damir Perge, Futuredex.

Students, faculty, and staff are eligible for special rates and everyone is encouraged to pre-register-students in person or by phone (F450 or 642-4255), and faculty and staff by e-mail (lester@haas.berkeley.edu). There will also be tickets at the door on a space available basis.

For more information on the panelists, event, or Lester Center, please visit http://www.haas.berkeley.edu/groups/lester/oct02.html.

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Inventors and Investors Come Together at New Berkeley Technology Leadership Forum

UC Berkeley scientists and Silicon Valley investors will gather at the Berkeley Technology Leadership Forum this Thursday, the first in series of events organized by the College of Engineering and the Engineering Entrepreneurship Club (VERTEX) and sponsored by the Haas School's Lester Center for Entrepreneurship & Innovation.

The event takes place on Thursday, Oct. 24, at Soda Hall on the UC Berkeley campus. Attendance is granted by invitation only.

Brief presentations will be made by engineering professors Eric Brewer, who is also chief scientist and co-founder of Inktomi; Vivek Subramanian, who appeared on Technology Review's list of top 100 young innovators; and Boris Rubinsky, winner of 2002 R&D 100 Award from R&D Magazine, the "Oscar of Invention." Topics will focus on their latest research and innovation, including brief technical tutorials, and on the trends of future technology.

The Berkeley Technology Leadership Forum seeks to give the Bay Area's entrepreneurial community greater access to the technology innovation emerging from UC Berkeley while creating a rich educational experience for the university's students and scientists.

For more information on the forum, please contact Xiaodong Jian at xdjiang@eecs.berkeley.edu.

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Undergraduates To Compete in the Final Round of Investment Banking Case Competition, Oct. 22

The Haas Undergraduate Program and Goldman, Sachs & Co. will host the final presentations of the Fifth Annual Investment Banking Case Competition tomorrow, October 22, from 6:00 to 9:30 p.m. in the Haas School's Auditorium.

This year's case focuses on eBay's potential acquisition of PayPal. Each of the finalist groups will make a 20-minute presentation and address questions from a panel of judges, which will include company managers, investment bankers, members of the investment community, and Haas School faculty. This year's winner will be announced on the spot, followed by the judges' critique of the presentations.

All interested parties are invited to attend this free event. It is a way for students and faculty to support their classmates and students, respectively. The competition offers undergraduate students an opportunity to put their classroom knowledge to the test, and in the process, get to know members of the Goldman Sachs recruiting team.

For more information on the Fifth Annual Investment Banking Case Competition, please direct inquiries to lecturer Stephen Etter at etter@greyrockcapitalgroup.com.

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Haas in the News

The Haas School's Socially Responsible Business Leadership Initiative was included in an October 28 article, titled "The B-Schools are talking up their ethics programs, but that won't prevent more Enrons," in Forbes magazine.

A October 21 Business Week article, titled "Bankruptcy Reform Won't Fix Telecom," quoted Severin Borenstein, the E.T. Grether professor in Public Policy and Business Administration.

Terrance Odean, assistant professor in the Haas Finance Group, looked at the tendency of investors to hold losing investments too long and sell winning investments too soon in the article, "Human folly in markets being recognized," published on October 21 in the Singapore Business Times. Read the full article at http://business-times.asia1.com.sg/news/story/0,2276,61107,00.html.

Ken Rosen, the California State Professor of Real Estate and Urban Economics, was quoted in the San Jose Mercury News on October 20 in the article, "Valley-watchers see rebound late in decade." Read the full article at http://www.bayarea.com/mld/bayarea/4326931.htm.

Berkeley MBA graduates were mentioned in the Financial Times on October 20 in a brief article, titled "Observer - US," which talked about the jargon of bankers' job descriptions.

Ken Rosen remarked on the possibilities for a housing market increase in the October 20 San Francisco Chronicle in the article, "Break out the crystal ball for home sale predictions."

An article published in the Oakland Tribune on October 20, titled "Sunday Spotlight: UC-Berkeley business school finds dynamic dean," featured Dean Tom Campbell. The article referred to Campbell's daily breakfasts at the Durant Hotel, which he often shares with various members of the Haas staff.

Janet Yellen, the Eugene E. and Catherine M. Trefethen Professor of Business Administration, was quoted in the New York Times on October 20 in the article, "Cheap Mortgages, Expensive Debt." Read the full text at http://www.nytimes.com/2002/10/20/weekinreview/20STEV.html? ex=1035777600&en=cc8cbadd6e7bf155&ei=5062&partner=GOOGLE.

A New York Times article, titled "Analysts' Choices Had Another Bad Year, but Why?" published on October 20 featured a study of brokerage analysts' ratings, co-authored by Brett Trueman, the Donald and Ruth Seiler Professor of Public Accounting and former Haas professor Reuven Lehavy, as well as Brad Barber and Maureen McNichols. Read the full article at http://www.nytimes.com/2002/10/20/business/yourmoney/20STRA.html? ex=1035777600&en=73514b6a95d8fe7f&ei=5062&partner=GOOGLE.

Janet Yellen remarked on the impact of the stock market decline and corporate accounting scandals on the economy in the October 19 New York Times in the article, "Fed Mood Seems to Be Shifting Against Rate Cut." Read the full text at http://www.nytimes.com/2002/10/19/business/19FED.html? ex=1035691200&en=e9d8c5e4b274ffcb&ei=5062&partner=GOOGLE.

In a Wall Street Journal article published on October 18, titled "Tech will be back, past slumps suggest," Hal Varian, dean of the School of Information Management and systems, commented on the tech industry revolution of the 1990s. Read the full article at http://www.sfgate.com/cgi-bin/article.cgi? file=/news/archive/2002/10/18/financial1055EDT0070.DTL&type=printable.
The quote was also included in the following news sources:

Ben Hermalin, associate dean for Academic Affairs and the Willis H. Booth Professor of Banking and Finance, commented on Bausch & Lomb's recent decision to not fire Ronald Zarella, CEO, after discovering a mistake on his bio. Reuters published the article, titled "Bausch & Lomb CEO does not have MBA as bio said," on October 18. Read the full text at http://www.alertnet.org/thenews/newsdesk/N18300471.

In a Sacramento Bee article, titled "Enron figure admits fraud," Severin Borenstein addressed whether trading schemes were the main cause of the energy crisis. Read the full article, published on October 18, at http://www.sacbee.com/content/news/story/4841805p-5855112c.html.

Severin Borenstein appeared on KQED's California Report on October 18 in a segment on the role that the California electricity crisis is playing in the governor's race.

InternetNews.com mentioned the participation of a Haas School official in the upcoming Grid Computing Planet Conference & Expo in its October 16 article, "Show to Focus on Grid's Competitive Edge." Alexander Karapetyan, associate director for research computing at Haas, will speak at the October 28-29 conference. Read the full article at http://boston.internet.com/news/article.php/1482521.

The Oct.16 Editor and Publisher article, "Service Helps Nonprofits Connect with Newspapers," features Ascribe News, a Haas School start-up. The article mentions Ascribe founders Ron Wolf, MBA 96, and former Haas Public Affairs Director David Irons, and quotes Victor "Thierry" D'Allant, MBA 87, CEO of the company.

Berkeley mayoral hopeful Tom Bates said there is tremendous potential for city-university partnerships, citing several UC Berkeley professional schools, including the Haas School. Read the October 16 Daily Cal article, titled "Candidate Calls for University Partnership," at http://www.dailycal.org/article.asp?id=9820.

Catherine Wolfram, assistant professor in the Haas Economic Analysis and Policy Group, was quoted in the Dallas Morning News on October 14 in the article "Energy provider says overseas issues won't harm other operations." Wolfram commented on the comparison between the Texas and UK electricity markets.

Hal Varian was quoted in The Dallas Morning News on October 14 in an article, titled "Studying the telecom collapse: Deregulation didn't bring in customers, and now investors want out."

Terrance Odean commented on the topic of investor behavior in a Pensions & Investments article, "Mind over Money," on Nobel Laureate Daniel Kahneman on October 14. Odean is a former student of Kahneman's.

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