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Taking Stock
Georgetown Business is
published during the academic
year by The McDonough School
of Business for alumni, parents,
friends, and business colleagues.
Dean
Christopher P. Puto, Ph.D.
Senior Associate Dean
John Mayo, Ph.D.
Editor
Elizabeth Shine g99
Contributing Writers
Tom Price
Susan Price
Elaine Ruggieri, APR
Designer
Nancy Van Meter
Photographer
Keith Tishken
Bob Llewellyn
Georgetown Business
welcomes inquiries, updates,
opinions and comments expressed
by its readers. Letters should be
addressed to:
the editor
Georgetown Business
deans office
georgetown university
the mcdonough school
of business
old north building
washington dc 20057
phone: 202-687-4080
www.msb.edu
LETTER FROM THE DEAN
WELCOME
R egular readers of Georgetown Business should begin to note a pattern as we
describe the McDonough Schools performance and discuss our prospects for the future.
Throughout the past three issues, we have chronicled a series of changes designed to
A leader can only reflect the accomplishments of those he leads, and in this issue we
reflect upon some early indications that we are moving in the right direction. On page 6,
Taking Stock reports on the progress of our MBA program, including its placement in
this years Business Week ranking of the nations top MBA programs. Credit for our
progress goes appropriately to the faculty who are the driving force behind our creative
and value-laden curriculum, to the staff who recruit, counsel, and direct a talented group
of MBAs, and to the students themselves, who believe in what we are doing and who
While we are pleased with our progress, we must continue the momentum. Other perhaps
more valid indicators of our advancement include the emerging plans for our new facility
(page 16) and the scholarly achievements of our faculty. In this issue, you will learn about
increased recognition by corporations. The McDonough School is one of the few business
These articles highlight the McDonough Schools developments. Let us hear yours, so we
Dean
CONTENTS
Inside Information . . . . . . . . . . . . . 2
Taking Stock . . . . . . . . . . . . . . . . . . . 6
Faculty Forum . . . . . . . . . . . . . . . . 10
Dividends . . . . . . . . . . . . . . . . . . . . 16
Alumni Notes . . . . . . . . . . . . . . . . . 21
1
Inside Information
McDonough School Adds New Joint Degrees in Physics Corporate Representation which the students presented
eorgetown Universitys graduate physics department is at MBA Recruiting Event themselves, Hoose says, not-
Markets conference. Ms. Schapiro was the keynote speaker at the con-
P McDonough School
MBA annual technol-
ogy conference into a regional
and venture capital and con-
sulting firms. Organizers
expect the combined summit
tech event are underway, with and career fair will attract up
the addition of a career fair to 500 students from leading
and invitations extended to universities with technology-
students at 17 leading MBA based graduate programs.
Going Global With the Job Search programs to participate. There is a growing desire
whirlwind schedule of meetings with companies in We want to expand the by MBAs to work in the D.C.
A McDonough School
MBAs is helping
America Online solve a vexing
are a terrific opportunity to
see inside the workings of a
company. The tasks tend to be
tough problems and as close to
T in Business Weeks annual ranking of the nations best
MBA programs. McDonough ranked 26th in the maga-
zines top tier of 30 programs, which was published in September.
problem. The first-and second- This years No. 1 ranking went to the University of Pennsylvanias
year students are trying to the real work environment as Wharton School.
identify and quantify the costs students can get. They receive Dean Christopher P. Puto called the showing a defining
resulting from a failed search their direction from real man- moment in the schools history. It will serve as a motivator to
on the Internet. agers who will interrogate push our MBA program to higher levels, he said.
When your search does- them on their findings and ask Business Week compiles its rankings primarily from surveys of
nt return what you expect it them to defend their solu- graduates and corporate recruiters, which it describes as the business
to, you might go to a competi- tions, just like employees, schools customers. This year, for the first time, it based 10 percent
tor search engine or you might Homa adds. of the rankings on what it called the schools intellectual capital
buy a product from someone Some consulting projects how often each schools faculty published in the most influential
else, says Chris Hergesell have led to jobs. Homa cites scholarly and professional journals and how often their books
(MBA 01), who is director of the example of Procter & appeared on the Business Week bestseller list and were reviewed in
consulting projects for the Gamble, which used George- Business Week, The New York Times and The Wall Street Journal.
Graduate Student Consulting town students to produce a While such rankings are controversial, they do testify to
Club. The team members, major study for their new McDonoughs quality and they will help the school continue to
who were selected from more business development group. improve in the future, according to Puto and Associate Dean
than 30 applicants, hope to They wanted a bunch of Lawrence Abeln, director of graduate programs.
complete their work by smart people to work on the The Business Week ranking establishes our external credibility
Christmas. problem in a focused way, and says the things we have been doing are viewed positively,
Hergesell says that work- Homa says. P&G later hired Puto said.
ing with AOL provides a big some of the team members Abeln said high rankings have a significant impact on
opportunity to develop a upon their graduation. Other prospective students, current students, corporate recruiters, alumni,
tighter relationship with one students use their consulting faculty and our ability to attract all of the above to our institution.
of the areas leading technol- project experiences as a
ogy companies. springboard to talk to
Marketing professor Ken recruiters about what theyve
Homa, who will be grading accomplished, Homa adds.
the students end product for
course credit, says such con-
ver the last two years, a series Once the circle is spinning, he added, The average starting salary for this
O of initiatives to improve
the McDonough School
have been implemented.
What has been the payoff?
One professor describes the changes
the school advances on the momentum.
You get an improved curriculum,
which becomes of interest to potential
applicants, so the quality of the students
goes up, he says. The student body then
years McDonough MBA graduates was
$80,912, a seven percent increase from
1999. Total average compensation for the
class, including starting salary, signing
bonus and other guaranteed compensation,
as a virtuous circle of improvement that becomes more attractive to faculty, so were was $117,000. Ninety-six percent had job
is carrying the institution into the elite of able to retain good faculty and hire new offers at graduation, up from 88 percent the
U.S. business schools. faculty from the top schools. With more year before. The number of companies
Im not sure where one enters the cir- and better professors, youre able to offer recruiting on campus increased to 119 from
cle, says Professor Joseph B. Mazzola, more and better courses. That then 108 in 1999. And in its January 2000 rank-
chair of the graduate curriculum. He improves the overall reputation of the ing of top ten-schools in each category, the
points to Georgetowns implementation of school, and potential applicants see that Financial Times ranked McDonough
the revised MBA curriculum as a major and the quality of the pool of applicants MBAs as fourth in the salaries in finance
stimulant, along with the arrival of Dean increases. category and sixth in the salaries in infor-
Christopher P. Puto and the $30-million Evidence abounds that all this is hap- mation technology category.
gift from the schools namesake, Robert pening, the most recent and prominent While applications for admission to
Emmett McDonough (F49)all of which being McDonoughs inclusion in Business top MBA programs declined last year,
occurred in 1998. Weeks ranking of the top 30 U.S. MBA according to a New York Times report,
Its a number of factors, says Maz- programs in September. McDonoughs MBA applications to McDonough rose 50
zola. The combination of a high-quality placement at no. 26 followed top-30 rank- percentto 2,875 this spring from 1,923 in
undergraduate program thats been in ings earlier in the year by Financial Times 1999. Selectivity heightened, as 19 percent
place, together with the excellence of and U.S. News & World Report. of MBA applicants were admitted, com-
Georgetown University, the revision in the pared with 34 percent in 1999. The yield
MBA curriculum, Mr. McDonoughs gen- rate also rose, with 44 percent of admitted
erous gift, a new dean, some strategic hires applicants enrolling, up from 35 percent
One professor describes the the year before. The enhanced quality of
on the faculty and staff, and it seems weve
obtained the critical mass necessary, Maz- the entering class was demonstrated in
changes as a virtuous circle
zola says. higher average GMAT scores (655, up
from 641) and average GPAs (3.4, an
of improvement that is carrying
increase from 3.2).
the institution into the elite
When asked in a survey to rate their quick temporary fix for the MBA pro- excellence, Puto says, it also
overall satisfaction with the MBA program gram, renovating a floor of the historic Car
on a 0-to-10 scale, this years graduates Barn into a state-of-the-art facility in just adheres to the Jesuit tradition
awarded an average score of eight. nine months.
Dean Puto sees the recent achieve- Puto also appointed a faculty-staff of teaching values as well as
ments as identifying an institution thats committee to conduct a nationwide search
building on a rock-solid base. for a full-time MBA director. The com- skills, which helps McDonough
One of the reasons I was attracted to mittee recommended Lawrence S. Abeln,
Georgetown was the tremendous opportu- director of the MBA program at MITs to distinguish itself from many
nity for rapid, sustainable progress, he says. Sloan School of Management, who
other business schools.
Georgetown University not only became both a contributor to and evidence
enjoys an international reputation for aca- of McDonoughs growing quality.
demic excellence, Puto says, it also adheres That a dean from a perennially top-
to the Jesuit tradition of teaching values as rated business school chose to come to
well as skills, which helps McDonough to Georgetown is a compliment to
distinguish itself from many other business McDonoughas are the decisions of sev- of graduates must be viewed as demanding
schools. eral faculty to come to Georgetown from customers. Potential students must be sold
Were in the business of creating highly-regarded institutions recently (see on the schools value to them.
highly-principled leaders of the global pages 1819). And Abeln brought a valu- Abeln has initiated surveys to measure
economy, he says. Were teaching them able new perspective with him, Puto says. student opinion and meets regularly with
the tools that everyone learns about how to Welcoming different perspectives is student government officers. An advisory
maximize profit. Were adding a layer that important when you have an institution board supplies input from alumni and
enables them to see more deeply what the thats been around for over 200 years, business executives. To upgrade the quality
role of business is in the greater society. Puto says. You have some extraordinarily of incoming students, the school has
Similarly, Washington is an ideal labo- strong and wonderful traditions after 200 increased the pool of applicants by making
ratory for business studentsnot just because years. But the way you exist for another repeated recruiting pitches to potential
it is the U.S. capital and the most important 200 years is by building in the ability to students who have indicated interest in
political city in the world, but also because of continually broaden your vision. McDonough.
its proximity to Northern Virginias leading- Like Puto, Abeln says he was drawn To upgrade academic life, the school
edge technology companies. by McDonoughs potential and George- is deploying technology to minimize stu-
The new MBA curriculumdesigned towns Jesuit tradition. dent and faculty distractions that interfere
to give students practical experience in McDonough can be agilea valuable with education. Students now can change
globalism, teams, technology and other attribute in the modern business world schedules online rather than by standing in
essentials of 21st century businesswas because it is relatively small and young, line, for instance.
ready for implementation when Puto Abeln says. Of almost any business school, Students and faculty have noticed the
arrived. Among its innovations are intense, Georgetown had the most underutilized progress.
multi-disciplinary, reality-based learning brand name and there are great opportuni- I think it is growing from being the
experienceseach a week long, with a ties to be successful here, notes Abeln. offspring of a great institution to becoming
mandatory one-week residency overseas. A business school should apply busi- one of the pillars of the institution, says
McDonoughs physical resources did- ness principles to its own operations, Tobin Richardson (MBA00), former pres-
nt match the turn-of-the-millennium cur- Abeln believes. The institutions stake- ident of the MBA student government.
riculum, however. Puto set a goal of mov- holdersstudents, faculty, staff, alumni, Richardson, whose class learned in
ing the entire business school into a new the business communitymust feel both the old and new MBA facilities, calls
building by 2005. And he instituted a involved. Students and potential employers the Car Barn terrific in different ways.
your vision.
Fall / Winter 2000 9
FACULTY FORUM
I
n June 1998 electricity prices for Located strategically along its supply options approach. (See M. Amram and N.
parts of the Midwest jumped from chain (electric grids and gas pipelines), Kulatilaka, Harvard Business Review,
an average of $40.00 to approxi- peaker plants are fired up when electric- Jan./Feb. 1999, for further examples.)
mately $7000.00 per megawatt ity prices peak out. In effect, peaker The potential for real options analysis
hour. Our purpose here is not to plants supply needed electricity during to become a business breakthrough is
address the reasons for such a stratospheric temporary shortages in a manner analo- noteworthy as various industries, compa-
price shift. Rather, we will address how the gous to a manufacturer drawing from its nies and consulting firms are embracing
existence of managerial flexibility in the inventory: a just-in-time supply. the approach as a decision-making tool.
face of uncertainty (e.g. price volatility) can What led Enron to realize that the For example, Applied Decision Analysis,
provide additional value to an investment operating flexibility furnished through its LLC, a new, wholly-owned subsidiary of
project. peaker plant option strategy is more PricewaterhouseCoopers (PWC), has
Nonetheless, this price surge, in com- valuable than the cost of operating rela- armed PWC with its needed real options
bination with various industry specific fac- tively inefficient plants? The answer? The expertise since 1998.
tors including but not limited to deregula- real options approach to the analysis of Essentially, where a high degree of
tion, non-storability, weather, and capital investment opportunities. A real options uncertainty and managements strategic
intensity, have resulted in a consequential approach is able to value the operating response to changing market conditions
increase in electricity price volatility. flexibility that is furnished through man- affect investment opportunities, real
While the majority of utility compa- agerial alternatives. For Enron, its peaker options provide a robust investment valua-
nies quiver at the very thought of price plants indeed serve as an option. They tion framework when compared to the
volatility, Enron has transformed it to a provide the flexibility and not the obliga- more traditional tools. In most investment
profitable opportunity. Enron capitalized tion to produce electricity. Given this per- projects, real options arise due to uncer-
on price volatility by exercising the flexibil- spective, a real options approach simply tainty in costs, benefits and the opportu-
ity furnished through its peaker plant states that the true value of an investment nity to favorably alter the projects course
option strategy. project is equal to the value of the project contingent on future information. The
In the summer of 1999, Enron without its real options plus the flexibility flexibility provided by these options can, in
opened up three gas-fired electricity-gen- premium (value) arising from the real some circumstances, result in significant
erating facilities (peaker plants), licensed to options associated with the project. risk truncation.
operate only 1200 hours annually. Companies in various industries are Examples of real options are vast and
Although peaker plants are much cheaper increasingly adopting this approach in typically include: differing initial invest-
to build, the cost of producing electricity at valuing contingencies and opportunities ment outlay (option to wait), altering
these plants is, on an average basis, some inherent in capital investment projects. In input rates, changing production rates
60% higher than the most efficient pro- the pharmaceutical industry, for instance, (volume flexibility), expanding or con-
duction facilities in the industry. alliances and joint ventures have now tracting capacity (capacity flexibility),
become a common business practice due varying the product mix (product flexibil-
to the risks involved. In the case of Merck ity), switching technologies (option to
and Biogens joint venture to develop and switch), outsourcing or subcontracting
market a new asthma drug, the agreement opportunities, temporarily shutting down,
between the two companies reflected a and abandonment (for or without salvage
contingent contract based on development value).
and market uncertainties. The option-like
features of this contract could not have
been valued through traditional methods
and were effectively evaluated using a real
Faculty
Associate Professor Reena Aggarwals
Price Discovery in Initial Public Offer-
ings and Role of the Lead Underwriter,
co-authored with Pat Conroy (Foliofn)
appears in the December 2000 issue of
Journal of Finance. She collaborated with
Assistant Professor Sandeep Dahiya on
Capital Formation and the Internet,
published in the Journal of Applied Corpo-
rate Finance, Spring 2000. Aggarwal pre-
sented her paper, Allocations of Initial
Public Offerings and Flipping Activity, at
of Deming, da Vinci and the Tao Te
Ching, co-authored with Douglas A.
Hensler (University of Colorado at Boul-
der) and Rick L. Edgeman (Colorado
State) appeared in Total Quality Manage-
ment in July 2000. In November 2000, he
was the keynote speaker at the Interna-
tional Conference in E-Commerce at the
University of Rio de Janeiro.
Venture Capitalists One judge told the stu- Five MBAs Garner Texaco Andersen Consulting
Challenge MBAs For dents that successful e-business Scholarships Awards Two MBA
Winning Plans entrepreneurs sometimes write ive second-year MBA Scholarships
E
ight venture capital-
ists and CEOs of
leading area start-ups
20 to 30 business plans before
coming up with a winner.
We want our students to
be creating business ideas and
F students have been
named the second
annual Texaco/McDonough A
ndersen Consulting
Endowed Scholar-
ships have been
converged on Georgetowns School of Business scholars. awarded to John Pribenow
campus Oct. 1920 to judge looking at business from all Sadri Ben Youssef, Edwin (MBA01) and Christopher
the MSB Challenge, a compe- different angles, says Profes- Tockman, Jason Kuuskraa, Chazin (MBA01), who
tition among first-year MBAs sor Robert Bies, one of the Renato Beltran and Teseo receive $500 each in scholar-
to present a business plan for a faculty coordinators of the Bergoglio will each receive a ships. The awards recognize
dot.com enterprise. MSB Challenge. Too often, $3,000 scholarship. Winners academic excellence and inter-
A joint course project of people get into a silo mental- must have majored as under- est in consulting.
the Organizational Behavior ity. They say its an account- graduates in engineering, Pribenow, a former Army
and Strategic Management ing problem or a people prob- computer science, geo-sci- officer, is concentrating his
faculties, the MSB Challenge lem or a strategy problem. ences or accounting/finance studies on strategy and
involved 250 Georgetown But a business issue and have a minimum 3.5 finance. I had no business
MBA candidates divided into encompasses all of these, Bies grade point average. education prior to coming
32 teams. The business plans explains. Students confirmed here, Pribenow says, and
covered both the external they used knowledge from all came to Georgetown to pre-
environmentsuch as poten- their core courses to develop pare to enter the private sector
tial size of the market, key their plans, not just the two work force.
success factors, competition for which the project was Chazin is on the board of
and internal issues, including required. Other faculty made the InterAmerican Business
what capabilities and resources their content more relevant Association, a graduate stu-
the e-business would need. to the students projects, Bies dent club, and worked for
says. Dow Jones newswires prior to
The winning team enrolling in the MBA pro-
consisted of first years Wyatt gram.
Crosswhite, Randall Davis, My interest is in the
Jennifer Folsom, Ranjan telecommunication industry,
Hullengalle, Michael Haley, Chazin says. He plans to seek
Tee Pneh, Jeremy Seiferth positions in strategic planning
and Omar Tapang. They pro- or business development.
posed a company called Both winners served
NetLifeManager.com, which internships last summer at
would connect several differ- PricewaterhouseCoopers.
Participants in the MSB Challenge ent platformsPCs, wireless
(l to r) Brenda Kissane, Bor-Weei Yang,
phones, and so forthso users
Aaron Bearce, Ryan De Leon,
Pia Cyrus Vachha; (second row) Juan
could keep track of their
Pablo Crane, Janice Del Aguila. appointments and other infor-
All Class of 2002. mation from several sources.
G
eorgetown Universitys Board of Directors has
voted to extend the Third Century Capital The assumption is that 75 percent of the $60$75 million
Campaign until June 2003. The campaign fundraising goal, or $42.3$56.3 million, will be committed by
extension allows the McDonough School of October 2001 in order for ground-breaking to occur and con-
Business to further focus on fundraising for a struction to proceed in January 2003.
new business school facility. Fundraising for this facility has been
a part of the campaign since its inception in 1996, and to date November 2000: Presentation of initial renderings to Major
$20.8 million has been raised. Gifts Committee and Board of Advisors. Beginning of increased
A new, state-of-the-art facility is essential to advance the development efforts to ensure that all necessary funding will be
goal of becoming a world-class business school. In addition to in place by the time the University Board of Directors approval
providing the physical infrastructure needed for first-rate pro- is sought to begin construction.
grams at every level of business education, this 200,000 square-
foot facility will make it possible for the McDonough School to December 2000: Initiate process for internal project approval
bring all of its programs under one roof for the first time in the through Georgetowns Capital Planning Committee and Execu-
history of the School. tive Cabinet.
The new facility will be constructed at the heart of George-
town campus, signaling the Schools key role in the Universitys January 2001: Architectural programming and design proposal
academic mission. The cost of the facility is estimated to be to be submitted by Robert A.M. Stern Architects.
between $60 million and $75 million. The new facility will
house the undergraduate, MBA, IEMBA, and non-degree exec- May 2001: After completing the internal approval process,
utive education programs, and feature state-of-the-art class- seek Board of Directors approval to begin official design devel-
rooms, increased and improved career services offices and inter- opment, schematic design and construction documents (one
view rooms, and high-quality space for student services and the year). During this year, complete all zoning requirements and
Schools research centers. end with a completed bidding process resulting in a guaranteed
A critical component to all levels of business education maximum price.
today is the integration of technology in the classroom. The
McDonough School plans to provide the best possible technol- May 2002: The McDonough School of Business announces that
ogy to enhance the academic experience. This new building is the fundraising required to finance the building is substantially
also planned to rival the facilities at peer institutions, as more completed. Board of Directors approval for construction is
prospective students report facilities to be a factor when deter- sought (assuming that the fundraising is significantly complete).
mining what top business school to attend. Bid is approved and ground-breaking is scheduled (twenty-four
Following is a proposed timeline for planning, fund-raising to thirty-month construction period).
and completion of the new facility. Naming opportunities for
the new facility will be formally developed in early 2001. To November 2002: Site work begins (thirty-month construction
make contributions to the new building, or to learn more about period).
the new facility plans, please contact the McDonough School of
Business development office at (202) 687-0179. January 2003: Construction on new facility begins.
Professor Jim Angel warned that the Mid- In the September 1, 2000 Business Wire
dle East tensions could put an end to the article ExecCard Teams with Georgetown
bull market on its 10th anniversary in MBA for Record Year, Associate Dean
Smartmoney.com Oil Crisis 2000 and Director of Graduate Business Pro-
(Rebecca Thomas) October 13, 2000. grams, Larry Abeln noted that the use of
multimedia presented an opportunity for
My intuition is that over time there will
us as an institution to better project some
be many more stock splits, reducing the
of our unique characteristics of the
average share price dramatically, but it will
Georgetown MBA experience and culture.
probably take 10 or 20 more years to get
The distribution of the card to the poten-
I dont believe the income statement until there, predicted Professor Jim Angel in
tial candidates had a very positive impact
I see the cash-flow statement, said Profes- the October 3, 2000 issue of The Wall
on our applications.
sor Patricia Fairfield in a November 29, Street Journals Getting Going: The Pros
2000 feature on corporate cash-flow in the and Cons of Doing the Splits ( Jonathan Deregulation and privatization were sold
In the Money Dow Jones Newswires Clements). implicitly on the assumption that every-
column. body can win from free markets, but Im
Professor Jose-Luis Guerrero Cusumano
hard pressed to find an example in the real
Leadership in part is a set of skillsyour appeared on The Newshour with Jim
world where that has happened, said Pro-
ability to prioritize, your ability to inspire, Lehrer on September 22, 2000, to discuss
fessor Willis Emmons in the August 27,
your ability to build common ground. You efforts to revive the sagging euro.
2000 New York Times article One Choice
can teach those kinds of skills, said Pro-
The New York Times quoted Professor Too Many in Electricitys New Free Mar-
fessor Bob Bies in Carnegie-Mellon
Ronald Goodstein on the possible effects ket (Kirk Johnson). Maybe somebody is
Broadening Instruction To Create Better-
of subliminal advertising in Democrats winning, but it isnt the consumer, said
Rounded Students (Bill Schackner) in the
See, and Smell, Rats in G.O.P. Ad Emmons.
November 12, 2000 issue of the Pittsburgh
(Richard L. Berke) on September 12,
Post-Gazette.
2000. Seeing the word Rats could make
Georgetown McDonough School alumnae people more negativebut there is no way
Tracy Lloyd-McRae (MBA00) was fea- that people are going to switch votes
tured in a roundtable discussion on the because of it, said Goodstein.
impact of business school rankings in the
Professor Reena Aggarwals research on
November 2000 issue of MBA Jungle.
the American Stock Exchange was fea-
Georgetown McDonough School student tured in the September 11, 2000 Business
Dan Goldblum (MBA01) commented on Week article Has the Curb Market
Internet radio in the October 23, 2000 Moved into the Gutter? (Gary Weiss).
article Web Radio Offers Listeners a
The September 1, 2000 issue of The
Wide Range of Alternative Sites in the
Washington Times featured the success of
Wall Street Journal.
Georgetown McDonough School MBAs
in helping a local business owner win a
contract with the Federal Emergency
Management Agency in Washington-
Area University Students Help Business in
Exchange for Class Credit (Dipka
Bhambhani).
David Welch is working at Gold- Appelbaums career as high tech entrepreneur began at
man Sachs in New York City.
age 7, when his parents bought him his first computer.
Natalie Wolf is a second-year
Ive loved computers ever since, he says. In 1994, the
MBA student at the Harvard
Business School. teenager signed up 200 customers in the area around his
1999 Just a few months ago, Appelbaum, VitalContacts CEO, and Garvett, the chief technology officer, were working
Rebecca Velez is an associate
out of an apartment they share in Georgetown. Now they have offices in Rosslyn, Va. and are hiring several
consultant with financial advi-
sory services at Pricewaterhouse employees, thanks to the capital and mentoring theyve received from Steve Walker Associates. So far, theyve
Coopers. She is planning to raised $300,000 from Walker and other investors, and now are seeking an additional $1 million to grow their
enter an MBA program in the
company.
fall of 2001.
1987 Rich and Lisa Carlson live in a Jonathan Madnick is still with 1993
golf community in Texas with American Management Sys-
The Class of 1987 is soliciting Class agent: Jordan ONeill
their four children. tems and was recently in Israel
a new class agent. Please jordan@chevychasebank.com
working on a telecommunica-
contact Elizabeth Shine at shi- Paul Fields and his wife, Jane,
tions project. Tim Becker was admitted to
nee@georgetown.edu if interested. ran the Dublin, Ireland
Andersen Consultings partner-
marathon on October 30, their C. Whitney Mandel is still sta-
Henry Bose, Jr. started a hotel ship in September 2000. He pro-
first wedding anniversary. So, tioned in Baltimore. He has just
and management firm, Ivy Hos- vides strategy consulting to the
Paul and Jane, for your second started with a consulting firm
pitality Inc., in June 2000 with utility industry, focusing on e-
anniversary, Everest? The Mat- and is enjoying his new work
help from a group of Silicon commerce and growth strategies.
terhorn? The Fields ran the experiences.
Valley angels.
marathon with Joints in Steve and Susan Fortier (for-
Eileen Utter spent most of her
Motions, a fundraising event merly Susan Aiken) are new,
six-week sabbatical from
1989 sponsored by the Arthritis
Charles Schwab in France this
proud parents. Their daughter,
The Class of 1989 is soliciting Foundation. Hannah Elizabeth, was born last
July, first attending cooking
a new class agent. Please August. Steve is a partner at
Jane Ashton Hawes was at school, then exploring the Bor-
contact Elizabeth Shine at shi- KPMG and Susan is still at Leo
daughter Emmas dance recital deaux and Dordogne regions
nee@georgetown.edu if interested. Burnett.
the weekend of the George- and finally ending up in Paris.
Hiroshi Asada joined Ameri- town MBA reunion. Jane and Lorraine Herr joined Eileen at David Liebreich has moved to
can International Group, an her husband vacationed in her country chateau (complete Japan and started e-Crossing, an
insurance company, in June Long Island and Maine this with a pool) for a week in the incubator company designed to
2000. He is a regional market- summer, with a quick trip to Dordogne. build a number of Internet busi-
ing manager. He will soon cele- Chicago in August for a nesses in Japan.
Kitty Swenson continues to
brate his tenth wedding triathlon. Janes freelance writ-
work at Wasatch Advisors. She Chris Melley and his wife Anne
anniversary with his wife, Hit- ing keeps her busy with a smor-
and her husband, Steve, are busy celebrated the birth of their
omi. His two children, Megumi gasbord of subjects, including a
with their two daughters, Scout daughter on May 5, 2000.
and Ken, will be 5-and 3-years- how-to primer on building per-
and Sara.
old, respectively, this September. mits, murder cases and organic David Roover continues to
Hiroshi and Hitomi have begun beef profiles. compete with Jordan ONeill
to play golf. Lorraine Herr, when not writ-
1991 and Terry McDermott for
Class agent: Mary Pat the lead in the most-jobs-after-
ing notes for her Georgetown
Blaylock business-school competition.
1990 class, works three days a week
mpblay@hotmail.com His fourth position post-
Class agent: Lorraine Herr
for AT&T, follows a rigorous
Georgetown is with a company
Cmputrilit@aol.com weight-training program, Mary Pat Blaylock is very busy he co-founded in Boston, Pci
designs custom window treat- with her two children and help-
Shaul Berechman was in Commercial, Inc. Pci is a start-
ments, and teaches her son ing to plan the class ten-year
Washington for our ten-year up that develops enabling tech-
Broadway show tunes. MBA reunion.
Georgetown MBA class nologies and a net-market
Bill Kummel also attended the Rob de Ocampo is working at for commercial loans. He has
reunion. Currently, Shaul is
managing the members savings reunion and reported visiting Bighorn Cellars, a Napa Valley responsibility for the development
plan of his kibbutz, as well as with Mohab Khattab, Monte winery that specializes in of the loan market. Though
Carlo, Eileen Utter, Scott chardonnay and cabernet sauvi- thinking he had hit the jack-pot
running member meetings and
Handel and Alan Lawhead. gnon. He began his work there by catching the B2B wave, he
other finance and business-
related community activities. Bill moved back to Washing- in 1997, when he was brought now realizes that B2B means
While in town for the reunion, ton, D.C. this summer and on to develop a financing plan back to banking, which he just
Shaul stayed at Shulie and claims to see Monica Lewinsky for the winery. His duties have left. David and his wife,
Jonathan Madnicks home in
every so often at a breakfast expanded to include winemaking Michelle, have a son, Ben.
Reston, Va. place he frequents. management, marketing and Eileen Schjelderup recently
brand management and vineyard relocated to Denver. She has
operations. changed careers from the non-
profit arena, accepting a job with Margot Jacobs is living in ing her two childrenHaley (4 Ashley Lowe married Rob
ALUMNI NOTES
Marisco Capital Management. London. years) and Jack (18 months). Shaya over Labor Day weekend
In her spare time, she enjoys ice Kristen sees Robyn Carton, in Sedona, Ariz.
Paddy McGee was married in
climbing and snowshoeing. Adrienne Cox, and Jen
August 2000 in Donegal, Ire-
Also, Eileen spent a month trav- Anthony from time to time. Jen
eling around Australia.
land. Those in attendance
Anthony visited Ashley Lowe
1996
included Marc Gross, his wife, Class agent: Leslie Blair
recently in Michigan.
Louise, and their daughter, 8- leslie.blair@spcorp.com
1994 month-old Aurelia. Alona Matt Tucker is currently run-
Ponomareva was also there. ning RightFreight, a company In March, 2000, Mustafa
Class agent: David Gee
Paddy is still with J.P. Morgan, offering global airfreight Abdel-Wadood and a group of
david.gee@sun.com
working on U.K. mergers & exchange for forwarders, ship- partners launched an investment
Manish Agarwal is living and acquisitions. pers and carriers. bank that focuses on mergers
working in Calcutta with his and acquisitions, advisory work,
wife of two years, Aparna. He Lisa Mitiguy is still a senior Heather Weaver (nee placements, securities brokerage
has moved into the processed manager at Ernst & Young in Mitchell) is living in Washing- and venture capital. The bank
foods industry from the tea Washington, D.C. ton, D.C. with her husband, has grown to over 50 employees.
industry. Mike, and son, Grant. She A lot of his work is focused on
Paul Murphy and his wife Jane
works at AOL. technology and high-growth
Chris Bahr and his wife Paget are moving back to New York
City. Paul has a new job as a opportunities in the Middle
welcomed the arrival of their
first child, a son, on July 31, principal at Sentinel Capital 1995 East and North Africa region.
Partners. His company also launched
2000. Hazard Gage was born at Class agent: Scott Shore
Egypts first on-line trading site
Stanford University hospital. Brad Norton and his wife, Deb- scott.a.shore@us.pwcglobal.com
and is developing a regional
Chris continues to enjoy his bie, are proud parents of triplet Claudia Kern has been living in financial portal. In the way of
work for IBM in Silicon Valley. daughters, Anna, Sydney and the Washington, D.C. area since personal news, Mustafa has been
Francisco Barriocanal has a Taylor, born March 2, 2000. Brad 1999. She was married to Javier married since September 1999.
baby daughter, Ines. and his family live outside Cleve- in Venezuela in 1995. The two
land, Ohio, where he is working Antonio Belaustegui was mar-
lived in New York from 1995 to
Sue Benveniste was married in the equity investment research ried on June 23, 2000, in
1999. While living in New York,
September 23, 2000, in Seattle group at Keybank. Logroo, Spain. Ramiro
Claudia worked for A.T. Kear-
to Keith Walter from New York. Snchez and Alejandro Garca
Dave Petroni joined onDisplay, ney and then decided to start her
Georgetown MBAs Ashley came to the wedding; they had
a web infrastructure business, in own jewelry business, C&G
Lowe, Kristin and Matt an incredible time.
late 1990. OnDisplay was Designs Corp. The company
Carcieri were in attendance.
acquired by Vignette earlier this specializes in unique sterling sil- Sibel Berzeg was recently pro-
Andrew Dyer is back in his year and Dave is managing the ver pieces and semi-precious moted to regional director for
native Australia, where he works transition. stones. The main market com- Internews Network, responsible
for McKinsey in Melbourne. prises of small boutiques in the for offices/projects in five coun-
Mike Piwowar and his wife, New York and Miami areas, as tries: Ukraine, Belarus, Azerbai-
Dave Egan was married during Eileen, became proud parents of well as in Venezuela and Mex- jan, Georgia and Armenia. She
Labor Day weekend in Chicago. Sean Raymond on March 20, ico. Javier works for Capital One also sits on the executive com-
Eric Saucedo, John Jacobs and 2000. Mike is also having his as director of retail deposits, mittee that manages the organi-
Evan Flinn were in attendance. academic journal article (coau- while Claudia is still managing zation worldwide. Sibel has been
Melissa Guerin Escajadillo is thored with Chris J. Muscarella) her own business. living in Tbilisi, Georgia since
still living in Peru with her hus- published in a forthcoming Jour- July 2000, and loves it. She is
nal of Financial Markets. Mike is Andris Levensteins recently left
band, Gonzalo. They are raising speaking pretty decent Russian
an assistant professor of finance General Electric Plastics Busi-
two girls, Mila (2 years old) and these days, though Georgian is
at Iowa State University. ness Development to move west
Cristina (3 months). Melissa another story completely.
to Denver, Colo. with his wife,
recently left IBM and joined Kristen Staples is working as a Georgetown MBA 96 alumni
Ingrid, and baby son, Niklavs. He
Sun Microsystems. part-time Internet consultant for visitors always welcome!
is enjoying skiing and fishing in
the Morino Group, and is rais- the Rocky Mountains.
ALUMNI PROFILE
ALUMNI NOTES
debut it in both Europe and Judy Renfrew was promoted
that, Dwight is putting together some time off to be a mom for a Japan. In her spare time she is to development manager at
a CD with his band N8. while. also an active board member for CarrAmerica, a real estate com-
the Bay Area YMCA, where she pany. She had another baby,
Michael Hawk and Michael Miriana Martinova wed Kevin
focuses on developing programs Elinor Renfrew Berger, born
Maier preceded Mariana Marti- Smith in Denver, Colo., on
for at-risk youth in San Fran- August 6, 2000. Elinor joins
novas wedding weekend with a September 16, 2000. Mirianas
cisco. big sister Alexandra, who is 2
rafting trip on the Gauley River wedding was attended by Maria
years old.
in West Virginia, followed by Antoinetta de Icaza and Nora Sandra Nouhra (married name:
mountain biking in Moab, Utah. Rivero Hudec. Also attending Hoffman) recently had her sec- Allen Wang was promoted to
the ceremony were Michael ond baby boy, Marc Angelo, brand manager at Procter &
Julie Jaoudi recently moved to
Maier, Michael Hawk, Jill born on July 5, 2000. His older Gamble in June 2000. He is now
Boston, Mass., with her husband
Kianka, and Leslie Blair brother Julian will be 2 years old managing all coffee (Folgers and
Davehe is pursuing his Mas-
Alvarado. Miriana and Kevin in February 2001. Sandra is still Millstone brands) for away-
ters in Public Administration at
both work for Qwest in Denver. living in Dubai (since 1999), from-home opportunities (i.e.
Harvards Kennedy School of
They honeymooned in Hawaii working as an export manager. anywhere you find yourself
Government. She is still work-
for two weeks before returning She has done a lot of traveling, drinking coffee, but not at
ing with AOL in business devel-
to Denver. Everyone had a blast especially in Africa. Sandra is home). Allen and his wife also
opment. She would love to know
catching up and dancing the looking forward to limiting her had a new son, born on July 12,
if there are other Georgetown
night away at the beautiful traveling to vacations only! 2000. His English name is
MBAs in the area!
Brown Palace Hotel. Four years Alexander, but they often call
Richard Oren recently left The
Michele Joseph is a proud goes by quickly! him by his Chinese name Jia-
Jim Henson Company to
mother of a 4-year-old long, which means good
Wendy Moe just moved to become director of licensing for
preschooler named Austin. She dragon, as he was born in the
Texas and is now a professor at HBO Properties. He is respon-
is also building a marketing con- Year of Dragon.
the business school at the Uni- sible for the merchandising of all
sulting firm with a social respon-
versity of Texas at Austin, teach- HBO programs, including The David Wigglesworth and his
sibility twist: Klick Consultants,
ing e-commerce. Wendy also Sopranos and Sex and the City. wife Laura are the proud parents
Inc. She is actively recruiting a
started a company with a couple Richard and fellow Georgetown of a baby boy, Ryan, born in
virtual team of consultants and
of Wharton MBAs. The com- MBA alumnus Michael March 2000. David recently
seeking investment opportuni-
pany is based in Seattle, Wash. Berman get together regularly changed jobs and now works at
ties.
for mind-numbing games of NetEx in Herndon, Va., which
Joe Mohan is the proud father
Scott Keough is still with Scrabble. provides encryption, protection,
of Francis Joseph Mohan, born
MicroStrategy as a senior man- control and administration of
in Panama at the end of May. Colleen Parent and her hus-
ager, running partner marketing. Internet-delivered content and
Within a week, Francis had band Al had a baby in June
e-mail.
Timarie Kilsheimer was three passports and during his 2000, Katherine Grace Zarate.
recently promoted to manager of first 3 months, he has traveled to Shes been a wonderful addition
channel development at Digex Argentina, Guatemala, Miami, to their family. 1997
in Bethesda, Md. Cuba, New York City and eight Class agent: Rochelle Cheng
Christian Preuss has been liv-
other flights in between! Joe is rcheng1@cisco.com
Lisa Klepper (nee Comparato) ing in Guyana since March
doing well with his new job,
and her husband Carl had a 1999, working for British Amer- Greg and Julie Adams are the
sales director of Copa Airlines.
baby boy, Carl, Jr., on July 31, ican Tobacco, as the general proud parents of daughter Lucy
In between trips, they are hitting
2000. manager for the Demerara Campbell Adams, who was born
the rain forest and visiting the
Tobacco Co. on August 24, 2000.
Tammy Maddrey and husband 20 countries he manages.
Greg had their second child, Wil Priester and his wife Pam Svetoslav Nikov is working as
Wendi Norris has been working
William, in January 2000. Their had another baby girl in March an associate at J.P. Morgan in
feverishly at a hot new San
first daughter, Catherine, is 2000Katherine Elizabeth New York City.
Francisco-based company, Scale
almost 3 years old. They recently (Kate). Big sister Lindsey has
Eight (www.s8.com). As vice Tod Reinert published an arti-
moved to Denver, Colo., where learned to share Mommy and
president of marketing, Wendi cle, Practical Active Currency
Greg is a director for Channel- Daddy and is particularly effec-
recently launched the company Management for Global Equity
tive at making Kate giggle.
in the U.S.A. and will soon
Portfolios in The Journal of James Anderson is working as Reed Meyer has joined another 1999
Portfolio Management (Summer a principle at American Man- telecom startup company in
Class agent: Mike Pastore
2000). The article leverages ear- agement Systems, Inc. in Wash- Denver, Colo.
ington, D.C. pastmike@yahoo.com
lier work of Georgetown profes-
Carolynn (McMeekin) Puffe
sor Richard Sweeney and Erik Gaull joined the adminis-
Michael Canzian, lives in now works as an associate for
demonstrates the effectiveness of tration of Washington, D.C.
Arlington, Va., and was recently the investment banking firm of
an active currency hedging strat- Mayor Anthony Williams in
promoted to the senior manage- Robinson-Humphrey, an
egy in improving risk-adjusted July 2000 in the operational
ment team responsible for emerging growth arm of
return of globally diversified improvements area.
worldwide revenue operations, Salomon Smith Barney. She
equity portfolios, relative to
at BAE SystemsRegional Air- specializes in the healthcare
unhedged and passively hedged
benchmarks. Tod can be reached
craft, Inc. industry. Carolynn and her hus- 2000
band, Michael, were married in The Class of 2000 is soliciting
at reinert@marketweb.net.tr. Nicole Flavin recently left Pepsi
May 2000 in Jamaica. a new class agent. Please con-
to pursue a new career in grass-
Christopher Skelly and Molly tact Elizabeth Shine at
roots marketing to college stu- Patrick Rau moved from big
Moosbrugger were married in shinee@georgetown.edu if inter-
dents with The Varsity Group, oil and Amerada Hess to join
Washington, D.C. on August ested.
based in Washington, D.C. ING-Barings Bank as an equity
12, 2000. The wedding was
research analyst in the chemicals Amy Galgon and her husband
attended by many Georgetown Rich Garodnick has been work-
division. He has also begun tak- have recently opened a restau-
friends, including Kelly ing as a consultant at Kurt
ing skating lessons to fulfill a rant, Grapeseed, in Bethesda,
Brighton, Marty Brennan, Salmon Associates (KSA) in
lifelong dream of learning how Md.
Grace De Fries, Todd Gareiss, New York. The majority of his
to play hockey.
Rusty Heffner, Simon Hitzig, work focuses on IT/merchan- Patrick Hanley is a member of
Brian Mannle, Megan Mulvi- dizing projects for clients in the Kamran Sistanizadeh is the key management team at
hill, Jane Oyugi, Fernando apparel industry. In addition to involved with an emerging Next Wave Innovations.
Turmo, and Mark Wilcox. these job responsibilities, he also Internet company, Yipes.com,
recently became the national which provides customers with Jenn Johnston, Vickie Koro-
Susan Thompson-Hoel is godon and Marco A. Gonzalez
staffing director for his firm. increased bandwith between the
enjoying her new job as a stay- have combined efforts to start
Internet and their local area net-
at-home mom with her son, Chris Gergen is now CEO of Buck42.com. They are featured
works.
Jackson Nicholas Hoel. Susan Smartthinking, a provider of in the October 2000 issue of
and her husband, John Hoel, online tutoring for college stu- Jeffrey St. Claire is continuing Washington Business Forward.
welcomed Jacks arrival on July dents. The company recently his work for the technology The article is about the Draper
2, 1999. announced that it has raised $5 investment banking practice at Atlantic/Netpreneur.org Fast
million in funding to enhance investment bank Robertson Pitch, which was won by Buck42.
educational technology. Smart- Stephens in San Francisco. He
1998 thinking offers real-time support reports he recently learned how
com. They have launched a pro-
motional web site and announced
Class agent: Brian Knox in mathematics, economics, to play the banjo. a partial list of their board of
bknox@hess.com accounting, statistics and psy-
Robert Walley works in Char- directors.
Several members of the Class of chology.
lotte, NC, for American Man- Kenneth Starr has started his
1998 recently attended the Fall Ana Martinez left her job at agement Systems, focusing on job as the e-commerce manager
2000 Virginia Gold Cup. Many LOreal in New York to join the Internet-banking industry. of product development at Fan-
thanks to Jane Dwyer and Procter & Gambles fine fra- He and his wife, Cindy, were nie Mae. He and his wife, Olga,
Heather Hunt for organizing grances division in Washington, married in July 1999. are moving into a new apartment
the event and the perfect D.C. in Arlington, Va.
weather for current students,
alumni and friends (no small Mark Maruszewski recently Dale Tzeng has recently changed
task). Attendees included joined Pomona Capital, a private jobs. He is now a product man-
Andrea Stueve, Lisa Price, Li equity firm based in New York. ager at Claritas in Rosslyn, Va.
Fan, Corina Ploscaru, Nicole He and his wife, Alexandra,
Flavin, Steve Woo, John were married in Nantucket in
Stokes, Mitchell Fenster and May 2000.
Rene The Bookie Houle.
ALUMNI NOTES
IEMBA
Gerosa set up a new residence
1999 Speaking of waiting and raising
money, Liz Blankenship and I
in Geneva, Switzerland. Terri is Class Agent: Alphonse
are still looking for a lot of money
1996 now heading up the support Iudicello
to recapitalize our company.
Class agent: Thom team for Citigroups private a:iudicello@worldnet.att.net
Arnsperger Jon Miller writes the following:
banking business in Europe. The IEMBA Class of 99 had
tarnsperge@aol.com Pietro is head of general affairs I feel that I am perhaps rested
their first official happy hour in
for Swiss Broadcasting. enough to proceed with my next
Congratulations to Guy Abramo, October at Muralis Restaurant
endeavor, embarking on my next
who was recently appointed to the Some of the previous moves we in Washington, D.C..
career. I have a multitude of
newly-created position of chief missed include: Marie Royce is Brenda Lang is living in Cleve- Internet listings, as well as exec-
strategy and information officer with Marriott International, the land, working for Pinkerton, utive search service, at my dis-
for Ingram Micro Inc. (the largest Marketplace, as their senior a security company, and likes posal here. Anybody doing busi-
global wholesale provider of tech- director, sales; Greg Spierkel is her job. ness in the EU is here in the
nology products and services). living in Brussels and is senior Netherlands and that in itself
Ingram Micro combined infor- vice president & president, On October 16, 2000, Christo-
provides many possibilities. Jon
mation technology, and corporate Ingram Micro Europe; Gene pher Ford started his new posi-
will be in the U.S. with wife
marketing and strategy into a sin- Waldenmaier in now with Car- tion as senior director of lodg-
Katina over the holidays, and
gle function that, under Guys olina Phone as their vice presi- ing finance at Marriott, Inc.,
were planning a get together on
leadership, is responsible for the dent of network operations; and working in the asset manage-
December 28 for anyone thats
companys strategic business Felicia Wilson is a senior man- ment and development finance
interested. Watch your e-mails
direction. ager at AOL. areas, and participating in con-
for the time and place.
tract assessments and analysis
Thom Arnsperger has been busy and valuation work on new unit
writing this year; he co-authored a 1998 development and acquisition 2000
chapter in McGraw-Hills Hand- Class Agent: Debbie Weil projects. Class agent: Lynn Miller
book of Airline Operations titled: Debbie@wordbiz.com lmiller@ti.com
Ready or Not, Here We Come: John Nishimoto is closing
Airport Infrastructure and the Class agent Debbie Weil has some other business and book- Nicholas Davidson has joined
Transition to Regional Jets. started her own business. Word- ing crazy revenues, accounting McKinsey & Co. in London.
Additionally, his work on airline biz.com is a marketing and con- for just under 30% of the entire
Lucy Fitch is now at BAE Sys-
avionics user equipage cost was tent firm that helps startups and companys revenues. Needless to
fast-growing companies tell tems North as a vice president,
presented to (and published by) say, things are going well.
their story. in acquisitions and strategy. She
the Airline Group of the Interna- Seth Grae and Jon Miller got and Dennis Morris are now with
tional Federation of Operational Michele Franck is now first together in Amsterdam, just after the same firm.
Research Societies at their 39th vice-president at Bayerische Jon got back from visiting Cyn-
annual symposium. Shawn Greene left Entremed,
Landesbank, working on financ- thia Loa in Brussels, where
ing of oil and gas projects in the where he was director of gene
Bhavana and J.C. Boggs are the Susan Klumpp was also visiting.
Caspian region. therapy, to found LabBook, Inc.
proud new parents of a little girl, Karl E. Williams left Lockheed His firm makes software that
Kate Boggs. Mary Rose Szoka de Val- and has joined Vodium as the allows researchers to manage and
Bill Oetgen went back to school ladares was recruited as director COO. Vodium is a streaming analyze large amounts of raw
and will earn a B.S. in Account- of business development devel- media services company that biological information.
ing from the University of opment and government rela- helps clients publish interactive
Eric Sklar has left Silicon Val-
Maryland in December (I guess tions for DCH Technology, a audiovisual events on the web.
public company that produces leys Technet to devote himself
well need to add C.P.A. to Richard Engh is having a blast at
fuel cells and hydrogen sensors. full time to the launch of his
M.D.). Dr. Bill is still very active Lucent coordinating among newest company, Infohaze.
at Georgetown, where he has R&D, engineering, product man-
been teaching a course to MBA agement, and manufacturing.
students for the past three years
titled: The American Health-
care Marketplace.