Childress Klein Center for Real Estate pages 8-9
Robert A. Niblock Student Center for Professional Development pages 2-3
2015-2016 | No.10
BELK COLLEGE CONNECTS
22 PROGRAM HIGHLIGHTS
BELK COLLEGE SOCIAL MEDIA facebook.com/BelkCollegeOfBusiness twitter.com/belkcollege Belk College of Business flickr.com/photos/belkcollege instagram.com/unccbelkcollege
24 STUDENT NEWS 26 FACULTY NEWS
THE BELK COLLEGE OF BUSINESS UNC Charlotte 9201 University City Boulevard Charlotte, NC 28223
JUST ANNOUNCED! • The
part-time MBA program has been ranked No. 20 in the nation by Businessweek.
M.S. in Mathematical Finance has been ranked No. 20 in the nation by The Financial Engineer.
DEAN Steven H. Ott
ACCOUNTING Hughlene Burton
SENIOR ASSOCIATE DEAN Richard Buttimer
BUSINESS INFORMATION SYSTEMS & OPERATIONS MANAGEMENT Antonis Stylianou
PHOTOGRAPHY Irina Bakalenko, Wade Bruton, Sean Busher, Stephanie Chesson, Debby Handolescu
ASSOCIATE DEAN FOR UNDERGRADUATE PROGRAMS Patricia Mynatt ASSOCIATE DEAN FOR RESEARCH AND GRADUATE PROGRAMS Jennifer Troyer EXECUTIVE DIRECTOR OF EXTERNAL RELATIONS Kirsten Khire
ECONOMICS Artie Zillante FINANCE Dolly King MANAGEMENT David Woehr MARKETING Sunil Erevelles
DESIGN Irina Bakalenko PRINTING Loftin & Company WRITERS Madison Hartness, Kirsten Khire, Laura Williams-Tracy Belk College Connects is published each year by the Belk College of Business at UNC Charlotte. To suggest story ideas, share feedback or change your mailing address, email email@example.com. 28,000 copies of the magazine and annual report were printed at a cost of $29,392. © 2015 UNC Charlotte
LETTER FROM THE DEAN
Dear Alumni and Friends,
Dean Steven H. Ott
These are some of the many accomplishments from this past year. We are proud to be the urban research business school in Charlotte, the #2 financial center of the country. Following commencement in May, our network has expanded to more than 27,000 alumni in Charlotte and around the world and we want to stay connected to you. After you read this edition of Belk College Connects, please contact us to get involved and make a difference, especially by hiring students and interns, attending events and programs, volunteering to serve on the Alumni Council and giving back to the College. Thank you for your support.
DR. STEVEN H. OTT, DEAN
Belk College Connects
e are pleased to bring you this issue of Belk College Connects. The theme of this issue is finance, real estate and insurance, topics and programs in which our College excels. As examples: our master’s program in mathematical finance is ranked in the top 20 in the nation; the master’s program in real estate provides scholarships to 67 percent of its students and places 100% of its graduates; and an undergraduate risk management and insurance concentration is closely connected to industry and secures good jobs for its students. The support and partnership we receive from the business community and our alumni is truly appreciated. Recently, we have received some especially generous gifts! We have just celebrated the naming of the Childress Klein Center for Real Estate in September. The $2.5 million gift from Childress Klein has been supplemented by state matching funds for the professorship, as well as additional funds from generous donors, bringing the total amount raised for the Center this year to over $4 million. In addition, Belk College alumnus Robert A. Niblock ’84, chairman, president and chief executive officer of Lowe’s Companies, Inc., announced in October he is donating $2.5 million to what is now the Robert A. Niblock Student Center for Professional Development. You can read more about these points of pride for our college inside this magazine as well as more news, including: • Five of the award recipients at the UNC Charlotte Alumni Association Awards were from the Belk College of Business. • In May, the College recognized four additional alumni for their dedication, philanthropy and service. • Over the past year, the College has recruited and hired 11 faculty members. • Events with TIAA-CREF and BB&T re-engaged with more than 175 alumni at these events. The University also held alumni events at Bank of America, Wells Fargo, Lowe’s, Duke Energy and MetLife. • The College hired a full time Director of Executive Education and began offering a slate of both open-enrollment and customized executive education offerings. • The College launched an undergraduate concentration in Business Analytics, and a Belk Scholars Program to attract highachieving students in this concentration. • The MetLife Foundation provided a grant to establish the Women in Business Initiative, which launched this fall.
ALUMNI NEWS CEO OF LOWE’S GIVES $2.5 MILLION TO COLLEGE
Belk College Connects
eturning to campus during Homecoming week, Robert A. Niblock, chairman, president and chief executive officer of Lowe’s Companies, Inc, was the inaugural speaker of the CEO Speaker Series in October. He gave an inspirational talk, but he also gave even more. Niblock is providing a $2.5 million gift to the Belk College of Business to support and name the Robert A. Niblock Student Center for Professional Development, helping students to develop their careers and professional skills. A first-generation college student, Niblock shared his story with more than 600 students – many of whom are also the first in their families to attend college. Left to right: Chancellor Philip He was the youngest of four Dubois, Melanie Niblock, Robert Niblock, Dean Steven Ott at the CEO children and the only one in Speaker Series on October 20, 2015. his family to attend college. He started working at a young age, helping at the small country store his father opened in Cool Springs, N.C. “When I wasn’t in school, I was at the store, pumping gas, stocking shelves and waiting on customers,” Niblock said. The work was difficult, the hours were long, and he wondered why his dad worked so hard for so little in return. “My dad told me it was because the community needed that store,” Niblock said. “Looking back, I realize he was leading a purposeful life.” Niblock joined Lowe’s as director of tax and learned on the job. Over the next 12 years, he was promoted to VP and treasurer, to SVP of finance, to CFO, to President and then CEO and Chairman, in the role he was had for almost 11 years.
Robert Niblock speaks to an audience of more than 600 students, faculty, staff and guests.
For more information about the Robert A. Niblock Student Center for Professional Development, visit belkcollege.uncc.edu/scpd.
ALUMNA RECEIVES AACSB INFLUENTIAL LEADERS AWARD AACSB International, the global accrediting body and membership association for business schools, announced that alumna Susan DeVore has been recognized as one of the first 100 AACSB Influential Leaders worldwide. DeVore is president and CEO of Premier, Susan DeVore Inc., a leading healthcare improvement company. She graduated from the Belk College of Business at UNC Charlotte, earning her bachelor’s degree in business administration in 1980. “I was one of seven children in my family, and I wanted to pay for college myself. When I received the Bonnie Cone Scholarship to UNC Charlotte and I reviewed the business program, I thought it was the place for me. By working through college, and with the scholarship, I was able to put myself through college and pay all expenses,” DeVore said. “At UNC Charlotte, I was able to get a very foundational, grounded grasp of all kinds of business principles – finance, accounting, marketing, policy, economics and organizational design. All of these learnings have been applied in many ways to many different industries over the years,” DeVore said. AACSB recognized DeVore and all recipients in September. “It is my honor to recognize Susan DeVore for her contributions as an Influential Leader, and to thank UNC Charlotte for its dedication to providing a business education environment based on engagement, innovation, and impact,” said Thomas R. Robinson, president and chief executive officer of AACSB International. “If told, the success stories of all business school graduates would fill unmeasurable volumes. AACSB is honored to celebrate Susan DeVore—and the collective 100 Influential Leaders—as a representation of how business school alumni have positively influenced society, as well as the management education industry’s, past, present, and promising future.” For the full list of recipients, visit aacsb.edu/influential-leaders.
Belk College Connects
Working his way up at Lowe’s was similar to his college experience. “No one in my family had been through the college experience, so I was learning along the way,” he said. He had lifechanging experiences, including meeting his wife of 31 years, Melanie, when she came along with someone he was tutoring in accounting. He had challenges, including the loss of his mother during his freshman year. He lived a frugal life, staying on a meal plan all four years. “I probably over-indexed on academics and I missed out on some of the worldly experiences most students have.” He persevered, and he wants other students to do the same. “Even though the campus has changed, I’ll bet my idea of what going to college is all about is close to yours. Getting a great education, going out into the world to find a job and making money, that’s what we expect,” Niblock said. “The reality is different. A degree comes with no guarantees, but it does provide opportunity.” Niblock is now providing new opportunity for thousands of students now and into the future. “While you are in college, it’s important that you develop not just your business side, but the other parts of your persona as well…communication skills, listening skills, interviewing skills, presentation skills, networking skills,” he said. “I know I could have benefited from learning these skills when I was a student here. It’s a privilege to become a part of the campus in such a meaningful and impactful way.” The center was established within the Belk College of Business in 2012 to help undergraduate business students discover, plan and achieve their career goals while building professional life-long competencies essential for success in the 21st century. With the new gift, the center will expand its initiatives to provide: • Programming for a year of professional development for incoming freshmen named “The Niblock Freshman Year Experience;” • Establishment of the Professional Development Training Program; and • Establishment of the Leadership Development Training Program. “Robert Niblock’s personal history empowers students with the idea that if they enroll in the Belk College, work hard and pursue their goals, they will also have the potential to achieve unlimited success. He is truly an inspiration to our students and our entire college,” said Dean Steven Ott.
Niblock is providing a $2.5 million gift to the Belk College of Business to support and name the Robert A. Niblock Student Center for Professional Development.
ALUMNI AWARDS ALUMNI AND FACULTY RECEIVE UNIVERSITY AWARDS
1 UNC Charlotte’s Alumni Association recognized three Belk College of Business alumni and two faculty members at the UNC Charlotte Alumni Awards Celebration in March 2015.
S. MARK DOUGHTON ‘80 ALUMNI HALL OF FAME AWARD
Mark Doughton graduated with a bachelor of science degree in business administration in 1980. He began his career in 1985 with Inmar, Inc., helping to build the start-up company from the ground up into a powerful nationwide company of more than 1,500 employees and 31 warehouses. Currently, Doughton works as a career development consultant, serving others with the knowledge he has gained over the years. He has provided generous financial support to many campus efforts including the Student Center for Professional Development and the Mark and Susan Doughton Faculty Development Fund, both in the College, as well as the unrestricted Chancellor’s Fund. He is president of the Stephen Doughton, Jr. Foundation for Leukemia Research, named in honor of his son.
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FABIAN D. ELLIOTT ‘12 OUTSTANDING YOUNG ALUMNI AWARD
Fabian Elliott earned a bachelor’s degree in marketing in 2012. During his time at UNC Charlotte, Elliott could be found just about anywhere on campus as he participated in a number of organizations. He founded the United Black Professionals, a collegiate affiliate of the National Black MBA Association, a student organization which prepares students for future career endeavors. He was a Belk College Dean’s Fellow and was
crowned Homecoming King. In 2011, Elliott was selected to intern with Google’s sales team at the age of 21. He graduated with a full-time job at Google that led him to Chicago, where he currently lives. He is currently serving a second term as secretary on the Executive Committee of the 100 Black Men of Chicago Inc. and is a member of both the Chicago Council on Global Affairs Young Professionals and the Chicago Art Institute Evening Associates.
KYLE J. WHITE ‘13 ALUMNI HALL OF FAME AWARD
Kyle White chose to attend UNC Charlotte after his service in the military, achieving his degree in finance and beginning his career in Charlotte with the Royal Bank of Canada. In 2014, White was awarded the Medal of Honor by President Obama for his heroic actions in Afghanistan in 2007. He administered life-saving medical aid to comrades and radioed situational reports after his team of 14 soldiers was ambushed. At the time of the award, he was the seventh living recipient of the nation’s highest military honor from the war in Afghanistan.
L. HOWARD GODFREY DISTINGUISHED FACULTY AWARD
Dr. L. Howard Godfrey joined the Belk College in 1975. He was the first business faculty member to hold a Ph.D. in accounting, which he received from the University of Alabama, and the first CPA in Charlotte with a doctoral degree. He has fond memories from that era, especially working with department chair and fellow awardee Thomas Turner. Teaching primarily in the area of federal taxation, Godfrey is a Certified Public Accountant in North Carolina and a member of the American
4 Accounting Association, the American Taxation Association and the American Institute of Certified Public Accountants (AICPA). He is past president of the Charlotte Chapter of Financial Executives International. In 1994, he received the Accounting Educator Award from the N.C. Association of CPAs. He has received the Bank of America Award for Teaching Excellence, the University of North Carolina Board of Governors Award for Teaching Excellence, and the Academic Leadership Award
of the Charlotte Business Journal.
THOMAS C. TURNER HONORARY ALUMNUS
Thomas “Tom” C. Turner almost single-handedly built the UNC Charlotte Accounting Department into a premier program. After many years in the private sector as a CPA, Turner arrived at UNC Charlotte in 1966 – just one year after the institution became part of the UNC system. He was known as a tough teacher and insisted that a strong accounting program had to begin with strong teachers. He had a hand in hiring many of the faculty in the department, some of whom remain with the program today. He served on the professional ethics committee of the N.C. Association of Certified Public Accountants. Turner taught more than 2,000 accounting students in his day and at least 19 graduates earned medals for outstanding performance on the CPA exam, meaning students ranked first, second or third in the state. He retired from UNC Charlotte in 1991, but he has remained a devoted follower of the school and 49er Athletics.
ALUMNI RECOGNIZED BY THE COLLEGE On Thursday, May 14, the Belk College hosted a reception at the UNC Charlotte Harris Alumni Center at Johnsons Glen to celebrate alumni service and generosity over the past year in support of the College and our students. Steven Ott, dean of the Belk College, shared, “Support from our alumni directly impacts the scholarships, internships and mentorship opportunities we offer for our students.” The Belk College of Business takes pride in the success of our graduates in their professional careers and through their civic involvement with the College and in the community. Dean Ott thanked alumni serving on the Alumni Council, Board of Advisors, Real Estate Alumni Association Board and Department of Accounting Advisory Board. The Dean then recognized four alumni who are the, “epitome of service to the College.” Two alumni who have distinguished themselves through consistent volunteer leadership, service and participation in the Belk College Alumni Council and alumni network activities were recognized as Outstanding Alumni Advocates.
KIRK BEATTY ’87, ’10 MBA has
two degrees from UNC Charlotte. He received a bachelor of science degree in computer science with a minor in business in 1987, and his MBA in 2010. He is principal and owner of DATATECH Information Services, Inc. and has 30 years of professional experience in roles from executive leadership to technical expertise. Beatty consistently supports the Council through involvement with his committee, Commencement receptions, Alumni Coffees, Belk College Day and philanthropy.
TINA ENRIQUE ’12 MBA
Two alumni have distinguished themselves through years of indelible loyalty, support and leadership on behalf of the Belk College of Business in the areas of board membership, philanthropic leadership, alumni and college pride,and representation in the business community. These alumni were recognized as Outstanding Alumni Ambassadors.
DAVE WEDDING ’80 serves as the
Chairman for Grant Thornton’s Partnership Board, and he is the Managing Partner for the Mid-South Region, which includes the Carolinas and Georgia. He has more than 30 years of experience in public accounting in external audit and many of Grant Thornton’s Advisory Services practice areas, including internal audit and forensic accounting. Wedding has extensive manufacturing experience and has worked with large multinational companies throughout his career. He has worked with many of the firm’s largest and most complex clients. He received his bachelor’s degree in accounting from UNC Charlotte and his MBA from Virginia Polytechnic Institute. He serves on both the Belk College’s Board of Advisors and Accounting Advisory Board.
MANUEL ZAPATA ’69, ’72 MBA, P.E is President of Zapata
Engineering. He studied civil engineering in his native Chile where he earned his bachelor of science degree in mechanical engineering. He later received his MBA degree from UNC Charlotte. In fact, Zapata was a member of the first class at the Belk College to earn an MBA in 1972. He believes in strong civic engagement. Through the NC Department of Commerce, the Charlotte Chamber and Sister Cities program, he has worked to strengthen Charlotte’s economic ties to the world. Zapata brings great perspective and insight to our Board of Advisors.
Belk College Connects
graduated from the Ohio State University in 1986 with a bachelor of science degree in allied medicine. In 2011, she completed her MBA at UNC Charlotte. Currently, she splits time managing a commercial real estate company, Timetech Holdings, LLC, and volunteering, especially active on our Alumni Council. Enrique consistently supports the Council through attendance and participation in meetings,
community service projects, Belk College Day, student mentoring, Alumni Coffees and philanthropy.
ETIQUETTE DINNER FEBRUARY 2015
Alumni attended the Student Center for Professional Development’s 12th annual Etiquette Dinner in February 2015. Each alumnus(a) was seated at a table with undergraduate students for networking and conversation before the presentation on dining and interview etiquette. Alumni Council member Brian Duggan ’94 meets Belk College students seated at his table.
Belk College Connects
ALUMNI COFFEE MARCH 2015
Belk College alumni enjoyed the quarterly Alumni Coffee series this year. Pictured left to right are Kelly Cochran ’98, Alumni Council member Heidi Hansen ’95, Catherine Pettus ’14, ’15 MACC, and Alumni Council member Alexandra Yaconetti ’15 MBA.
BB&T ALUMNI EMPLOYER RECEPTION - APRIL 2015
The Belk College partnered with BB&T to host an Alumni Employer Reception at the UNC Charlotte Center City Campus in April 2015. Alumni Council member and BB&T Assistant Vice President Amanda Self ’07 helped spearhead the event. Also pictured are Jason Gowen ’02 and MBA candidate Britnie McCallum.
BELK COLLEGE DAY OF SERVICE - APRIL 2015
The Alumni Council hosted the second annual Belk College Day of Service in April and partnered with Sow Much Good, a local non-profit founded by UNC Charlotte alumna Robin Emmons. 33 Belk College alumni and students volunteered for a workday at the farm. Alumni Council members Tina Enrique ’12 MBA and Michael Kowalchyk ’12 are pictured with students in the Business Honors Program.
COMMENCEMENT - MAY 2015
ALUMNI RECOGNITION RECEPTION - MAY 2015
Alumna Alex Yaconetti ’15 MBA celebrates with her family at the Belk College Commencement Reception in the Student Union following the May Commencement Ceremony in Halton Arena. The Belk College Alumni Council hosted over 500 Belk College faculty, graduates and their families for the celebration.
Alumni Council members celebrated with College faculty at the Alumni Recognition Reception at the Harris Alumni Center in May 2015. Pictured left to right are council members Louise Fuller ’09 MBA, Tim Ralston ’09, Dr. Gary Kohut, UNC Charlotte MBA Program Director, Gerald Burgess ’12, and Fabian Elliott ’12.
TIAA-CREF ALUMNI EMPLOYER LUNCHEON - MAY 2015
The Belk College partnered with TIAA-CREF twice this year to host an alumni employer luncheon onsite at their main campus in Charlotte as well as in New York. Over 130 alumni registered for the event! Pictured left to right are Jeannette Freedman ’14 MBA, EVP and Board of Advisors Vice Chair Brian Bohaty, Tim Ralston ’09, and Andrew Morton ’11.
ALUMNI RECOGNITION RECEPTION - MAY 2015
ALUMNI COUNCIL RECEPTION - MAY 2015
The Belk College Alumni Council is comprised of 52 alumni representing each College department, program and a diverse mix of class years and industries.
CONVOCATION - AUGUST 2015
Belk College freshman participated in the inaugural UNC Charlotte Day of Convocation on the first day of classes this fall. Students assembled for the Dean’s Welcome before processing to the Dale Halton Arena to participate in the New Student Convocation ceremony. Belk College students then returned to the Cato-Fretwell quad for a picnic and activities with student organizations and the Belk College Alumni Council.
ALUMNI COFFEE SEPTEMBER 2015
60+ Belk College alumni and friends attended the quarterly Alumni Coffee preceding the UNC Charlotte/Babson Capital Economic Forecast in September. Alumni enjoyed the opportunity to network and hear an update from Dean Ott and the chair of the UNC Charlotte Accounting Department, Dr. Hughlene Burton.
BELK COLLEGE DAY OCTOBER 2015
175+ alumni and friends registered for Belk College Day 2015 in October. Belk College alumni enjoyed reconnecting at the pre-game Alumni Tailgate Village in the new Hauser Alumni Pavilion and sat together at the first Friday night Charlotte 49ers football game against Temple.
Belk College Connects
The Belk College Alumni Council’s officers volunteered countless hours to lead the Council through a momentous second year. Their leadership was celebrated at the Alumni Recognition Reception in May 2015. Pictured left to right: Anne Bateman ’08, Secretary, Phil Hains ’85, Chairman, and Tim Ralston ’09, Vice-Chairman.
CHILDRESS KLEIN GIVES $2.5 MILLION TO
CENTER FOR REAL ESTATE
Belk College Connects
hildress Klein is donating $2.5 million to UNC Charlotte’s Center for Real Estate, which is being named the Childress Klein Center for Real Estate. The gift will fund a new endowed professorship, master’s student professional training programs, and faculty fellowships related to research on real estate and urban economics topics. With an expected match from The State of North Carolina for the professorship, the total impact of the gift will be $3.2 million. The naming of the center and the gift were announced on Sept. 23 at UNC Charlotte Center City, during a luncheon attended by university officials and real estate, business, and community leaders. Don Childress and Fred Klein of Childress Klein made the announcement alongside UNC Charlotte Chancellor Philip L. Dubois and Belk College of Business Dean Steven Ott. Real estate industry supporters have previously raised more than $5.5 million for the Center, which provides regional and national research on real estate and urban economics, a master of science in real estate degree program, and outreach activities in partnership with the Charlotte business community. The gift by Childress Klein is the largest single gift in the center’s 10-year history. Childress Klein is a longtime supporter of UNC Charlotte, beginning in 1990 with the Childress Klein Scholarship for Merit, then again in 1999 with the Childress Klein Faculty Research Funds, and later the Childress Klein Fellowship Fund, as well as gifts to the Chancellor’s Fund. Don Childress and Fred Klein, the senior managing partners of Childress Klein, say the gift is important for the University’s development and Charlotte’s continued growth. “We believe that UNC Charlotte has been instrumental to the growth and development of the Charlotte region,” Klein said. “The Childress Klein Center for Real Estate is an example of how an industry can support the education and research which in turn provides talent, ideas, and expertise directly back to the industry,” Childress said. UNC Charlotte Chancellor Philip L. Dubois said the gift helps lead the University into the future. “UNC Charlotte and the Center for Real Estate have a longstanding and deepening relationship with Childress Klein,” said Dubois. “The Childress Klein Center for Real Estate embodies the successful partnership between the university and the real estate industry - a relationship strengthened by a mutual interest in growing and supporting the North Carolina economy.”
Left to right: Chancellor Philip Dubois, Fred Klein, Don Childress and Dean Steven Ott at the announcement of the Childress Klein Center for Real Estate on September 23, 2015.
Components of the gift include: • The Childress Klein Distinguished Professor in Real Estate and Urban Economics - $1.3 million Funds will honor an existing member of the faculty of the Belk College of Business or recruit an outstanding scholar to conduct teaching and research in urban economics. Through the Distinguished Professors Endowment Trust Fund, the State of North Carolina is expected to match the $1,333,333 contribution in the amount of $666,667, bringing the endowment of the professorship to $2 million. • The Childress Klein Fund for Professional Training for Master of Science in Real Estate Students - $600,000 Funds will provide support for workshops, geared towards the real estate industry, for students in the master’s program and real estate industry professionals. • The Childress Klein Faculty Fellowships - $600,000 Funds will provide resources to allow faculty to focus on applied research activities on real estate topics. These funds also provide Ph.D. student funding to attract talented scholars to UNC Charlotte to study real estate. Ott, who is co-director of the center and the John Crosland, Sr. Distinguished Chair in Real Estate and Development, said the gift will have direct impact on the Charlotte real estate community.
“Charlotte is a hub for commercial real estate in the region,” said Ott. “The gift positions Charlotte and UNC Charlotte as a leader in real estate scholarship, education and research. It will be transformational for students in the Master of Science in Real Estate program and for the community that will benefit from the research and outreach.” Childress Klein is a full-service firm offering a range of products and services covering all aspects of commercial real estate. For more than 35 years, the professionals at Childress Klein have developed over 42 million square feet of office, industrial, retail and multifamily properties in major markets throughout Virginia, Tennessee, North Carolina, South Carolina, Georgia and Florida and currently control a portfolio of approximately 30 million square feet. The Childress Klein Center for Real Estate at UNC Charlotte was established in 2005 to further the knowledge of real estate, public policy and urban economics in the professional community through its teaching, research and community outreach activities. It has been ranked among the 20 most active research institutions in real estate for the past decade. The center administers the M.S. in Real Estate program, the MBA concentration and certificate programs in real estate finance and development, and manages programming and outreach to the Real Estate Alumni Association and Real Estate Advisory Board. For more information about the Childress Klein Center for Real Estate, go online to realestate.uncc.edu.
DONORS Special thanks to the donors listed as well as anonymous donors who have raised over $10 million to support the CKCRE over the years. $3 million+ Childress Klein
$1 million+ John Crosland, Jr and Affiliated Companies
$500,000+ Wells Fargo Foundation Bank of America Foundation Mr. Smoky Bissell Anonymous
$250,000+ Charlotte Regional Realtor® Association Batson Cook Company
$100,000+ Home Builders Association of Charlotte Foundation Shelco, LLC Mr. Henry J. Faison Dr. Steven Ott Concrete Supply Co. K&L Gates Nucor Vulcraft and Nucor Yamato Steel Parker Poe Adams & Bernstein LLP Robert Rhein Steelfab, Inc. Womble Carlyle Sandridge and Rice, LLP
$50,000+ North Carolina Home Builders Association National Housing Endowment Charlotte Region Commercial Board of Realtors Northwood Ravin Beacon Partners King & Spalding LLP Metromont Corporation North Carolina Real Estate Educational Foundation Bunker Land Group, LLC CitiSculpt Grubb Properties
Foundation for the Carolinas CoreNet Faison Enterprises Inc. Mr. James M. Alexander Richard and Shirley Buttimer CP Morgan Mr. Randy Hughes Howard Brothers Electric of Charlotte, LLC Preferred Electric Co. Inc. Adams Electric Herlocker Mechanical Systems Inc. Mr. Sami Nafisi Warco Construction Amy Clement Bailey & Rose Patrick Starr Electric Company Inc. Crescent Communities Cline Design Associates Trinity Partners Absolute Fire Control, Inc. 1st Choice Glass, Inc. NC Interiors Contracting, LLC Johnston Allison & Hord Attorneys Perry, Patrick, Farmer & Michaux Suntrust Carolinas Group Foundation, Inc. Mr. Frank Warren Doggett Concrete Construction Tom and Jayne Sittema
$5,000+ NC-CCIM Price Waterhouse Coopers LLC Mr. Travis Stowers Mr. Bill Wilson Mr. Bob Bertges Mr. Darryl Dewberry Bellwether Enterprise Coatings 2000 Mr. Gary Newton Baucom Mr. John Church Mr. Jubal Early Merrifield Partners Seretta Construction Mid-Atlantic, LLC Mr. Chet W. Snow, Jr. Mr. Frank Spencer Allen Tate Foundation Levine Properties Mr. W. Samuel Woodard Mr. Geoffrey Curme
$2,500+ CarolinaPower Cardinal Real Estate Partners Piedmont Public Policy Institute Dr. Dustin Read Mr. Benjamin L. Collins Mr. Rip Farris Mr. Perry Quick Heritage House Realty Mr. George W. Rohe University City Partners Mrs. Anne Marie DeCatsye
Belk College Connects
Fred Klein, front row left, and Don Childress, front row right, with faculty and staff from the Childress Klein Center for Real Estate.
Fifth Third Bancorp CREW Chandler Concrete Company, Inc. Cambridge Properties, Inc. IREM Mechanical Contractors, Inc. Ron & Patti Curtis BB&T Corporation Hoopaugh Grading Company, Inc. Myers and Chapman, Inc. NAIOP Showalter Construction Co., Inc. Troutman Sanders LLP Blythe Brothers Foundation Medalist Capital Jones Lang LaSalle
REAL ESTATE BOOM
UNC CHARLOTTE PROGRAM
Master of Science in Real Estate graduates at commencement in spring 2015 with Alyson Metcalfe, director of the master’s program.
Belk College Connects
he center celebrated its first decade with a master of science in real estate program hitting its stride and with research projects that are looking at Charlotte’s growth and development. “Some of the best and brightest students consider a real estate career,” says Steve Ott, dean of the Belk College. “Following the recession, we have been building the program and finding new opportunities for students at every turn. The industry is back, and we are getting a lot of industry support as they look for us produce talent and valuable research.” Starting the center was the idea of Charlotte’s vibrant real estate community, which felt that the university already had a strong presence in research and could engage in greater collaboration with the local real estate industry. After successful fundraising to endow the John Crosland Sr. Distinguished Chair in Real Estate and Development, Ott was hired into that position in 1999 to develop
the center and programs. The year was good timing as the city was growing and student demand for courses in real estate was high. That year the Belk College formulated a concentration in real estate within the MBA program. As the real estate market further boomed into the decade, the Belk College launched the Center for Real Estate in 2006 and undertook a capital campaign to launch a master of science in real estate program. The recession of 2008-09 delayed the program, which finally began in 2011. Now in its fourth year, the master’s program graduates about 15 students each year. “We intend to keep classes small so students are in a more intimate environment where they can interact with fellow students and professors,” says Alyson Metcalfe, director of the master’s program. “There are more opportunities to engage with industry in the classroom.”
Attendees at the “Navigating Private Equity Capital Markets” symposium presented by ULI Charlotte and the Childress Klein Center for Real Estate.
to develop communities that go beyond just affordable housing. A great example of one of these communities in Charlotte is Renaissance West. These communities take a holistic approach to affordable housing by providing housing, education, community health and social services to residents,” says Stephen Billings, associate professor of economics and co-director of the center. “It’s a fun time to be involved with the center,” Billings says. “We’ve got great support from the university and the organization has all the right people in place. The economy is growing and we are pushing fast forward.” Britt Risch graduated in June from the master’s program, and shortly before graduation began working as a financial analyst for local developer Grubb Properties. Risch majored in global studies and theology as an undergraduate in Colorado and felt that she needed to return to school for training in finance. Now that she has earned her master’s degree, Risch hopes to one day use her real estate and finance skills to work in emerging markets and developing nations. “My real passion is to partner with nonprofits to help them with development projects,” Risch says. “I’ve spent some time living in Africa. Non-profits don’t always have the business savvy they need.” With the master of science in real estate degree, Risch says she gained the specific skills needed to pursue a dream job while making valuable connections within the Charlotte real estate community. “I am so passionate about the real estate program because it’s a small group and more of a cohort style program, allowing us to collaborate, learn from each other’s professional experience and develop friendships,” Risch says. “Our capstone course was presented in front of industry-leading board members who critiqued our projects. That’s something you are not going to get anywhere else.”
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Because of generous industry support, in 2014 the center awarded $90,000 in scholarships to a class of 25 students. The program reached 35 students in the fall of 2015, but Metcalfe says it will remain a boutique program. “Because this is such a niche degree the people who are inquiring are very serious. Most are already on that career path but they come from a diverse set of backgrounds - lenders, those Stephen Billings working in finance, investments, brokers, planners, developers, construction managers and design professionals. We also have professionals from residential real estate who want to make the transition to the commercial side.” The majority of students in the program are working fulltime and they attend courses in the evenings at the uptown campus. Those studying parttime usually take about two years to complete the program, while full-time students can Alyson Metcalfe finish in one year. Metcalfe says the program has a 100 percent placement rate for graduates and above-market salaries. “The industry wants access to talent interested in developing Charlotte,” Ott says. Likewise, Ott says the program is building alliances with industry trade groups such as the Urban Land Institute to be a resource to the industry for new ideas, innovation and knowledge in the areas of public policy and finance. The Childress Klein Center Steven Ott for Real Estate will undertake two research projects that serve the greater Charlotte community. The first project involves a summary of case studies on Purpose Built Communities (PBC) that will highlight the attributes and benefits of this new strategy to address affordable housing and issues of poverty. The second project examines the role of nearby parks and greenways on property values in order to estimate the benefit of public investment in parks and recreation facilities. “PBCs are private developments that leverage public subsidies
RISK MANAGEMENT AND INSURANCE
AND MANY REWARDS
Students in the risk management and insurance concentration on study abroad to Zurich, Switzerland with faculty member Tom Marshall, center.
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s an undergraduate student nearing graduation, Kseniia Shteinberg brought to any potential employer an international background and top grades in the Belk College of Business. But it was the experiential learning, networking opportunities and industry-specific training in the risk management and insurance concentration in the Belk College of Business that Shteinberg says helped her land her dream job. “I had a very blank resume before joining the risk management and insurance program,” says Shteinberg, a native of Ukraine. “The program prepared me to be an expert in a specific field. I had a job a semester prior to graduating with a company I’d met at industry networking events and later had an opportunity to interview at a risk management and insurance career fair.” The risk management and insurance concentration in the Belk College of Business, now in its 14th year, currently enrolls about 75 of the 600 undergraduate students majoring in finance. Many are attracted to insurance as a field ripe with opportunity for advancement as the industry faces an impending talent gap. While in school, the relatively smaller cohort of risk management students gain access to networking with industry leaders and benefit from strong industry support in the form of scholarships to attend conferences, to study abroad and for academic studies.
“Most people ended up in insurance because they knew someone and it was an opportunity and they decided to give it a try. Today, students are able to pursue training in an industry that has grown and is growing.” - Thomas Marshall “Insurance is not at the top of the list of everyone’s idea of what to major in, but it’s a career path full of possibilities,” says Faith Neale, associate professor of risk management and insurance. “There are so many different career options in risk management and insurance.” Students usually declare their intent to earn the risk management and insurance concentration in their junior year and complete five courses toward the designation. “Most students are drawn into the program by word of mouth from other students who are able to show them the opportunities they have,” Neale says. The concentration began in 1995 with the James J. Harris Chair of Insurance, the first $1 million chair at the university. Donors included the James J. Harris and Angelia M. Harris Foundation, Mr. and Mrs. H.C. Bissell, Mr. and Mrs. Cameron Harris and Mr. and Mrs. John W. Harris. Increasingly, Charlotte became a significant center for
Students in the risk management and insurance concentration.
Belk College Connects
financial services, and among them, insurance agencies, brokerages and life, property and casualty company regional offices. The risk management and insurance concentration within the finance major was first offered in 2001. “Historically, insurance wasn’t always offered as a program like at UNC Charlotte,” says Tom Marshall, lecturer in risk management and insurance. “Most people ended up in insurance because they knew someone and it was an opportunity and they decided to give it a try. Today, students are able to pursue training in an industry that has grown and is growing.” An increasingly sophisticated risk management industry required talent from the university level. Marshall, who retains strong industry contacts, spent three decades in the insurance industry, first with the Marshall General Agency and later with Auto-Owners Insurance Company as a regional vice president before joining the Belk College faculty in 2005. Marshall has helped connect the Belk College to such vital industry partners as the North Carolina Surplus Lines Association and the North Carolina Independent Insurance Agents Association, the CPU Society and RIMS, which provide strong financial support to students. As a result of strong industry partnerships, the risk management and insurance program can offer engaged students the opportunity to travel internationally and domestically to visit insurers as well as the chance to attend top risk management conferences. Each fall, students enrolled in the Global Insurance Topics class are invited to travel to London to tour Lloyd’s of London and observe underwriting of unique properties and assets. “You should see the students’ faces when we walk onto the floor of Lloyd’s of London,” Neale says. “When we go to London we get access to the corporate board room that these students most likely won’t see again until they get into the C-suite. These travel opportunities give them a vision of how far they can go and how high they can aspire.” Shteinberg says having the Lloyd’s of London experience on her resume impressed potential employers. “In every interview it was a topic of conversation,” Shteinberg says. Along with the London trip, for the past two summers, students have had an opportunity to study reinsurance and insurance-
linked securities with a trip to Zurich, Switzerland. Many students also receive scholarships to attend trade conferences where they network with industry executives and attend seminars. “We see 100 percent job placement for students who participate in these additional programs,” Marshall says. “We structure these travel programs so students can learn about specific areas of insurance and experience the true environment where that work is done.” Funding from insurance industry associations and companies is also available to top students for academic study on campus. From contributions made by scholarship donors, about 40 students in the RMI program receive academic scholarships toward tuition expenses each year. Such academic and educational travel support wouldn’t be possible without significant financial contributions from industry, Neale says, but she adds that executives go a step further. “The best part about our program is the industry people really care,” Neale says. “They don’t just provide money and opportunity and say bring them here to this conference. They really engage those students when they get to those places.” Andrew Miner, a senior from Seattle, will graduate in December with a degree in finance and a concentration in risk management and insurance. Miner says the major was unknown to him when he first considered a career in private equity. Soon after meeting Marshall, Miner began an internship with Liberty Mutual. He plans to join the company’s underwriting training program after graduation. Miner is currently the president of Gamma Iota Sigma, the student organization focused on risk management and insurance. “I met Mr. Marshall and within a month I had an internship,” Miner says. “The rewards range from career opportunities to professional development while you are still a student.” It behooves students to make those contacts, because opportunity is ample within the industry. According to Insurance Business America, one quarter of the insurance workforce is set to retire by 2018. The Bureau of Labor Statistics anticipates over 200,000 new jobs in the industry by 2022. “The students are in a great position to enter the industry and move up quickly if they apply themselves,” Neale says. “Risk management is so dynamic and changing. People in the industry tell you they are never bored.” Marshall says the imminent turnover is one reason the Belk College sees such strong support from industry. We are at a very critical stage where the industry has all these people retiring,” Marshall says. “Industry knows it’s more effective to recruit from a structured university program.” Shteinberg now teaches Chartered Property Casualty Underwriter (CPCU) courses while working at Wells Fargo conducting financial analysis of insurance companies and volunteering with the local CPCU chapter. “With the knowledge I received within the risk management and insurance program as well as the dedication and personal attention of my professors, I was able to refine my skills and succeed tremendously,” she said.
GRADUATE PROGRAMS PRODUCE
PROFESSORS AND PROFESSIONALS
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rowth in graduate programs university-wide is evident within the Belk College of Business, where the doctoral program in finance is delivering top university professors and the master’s program in mathematical finance has created a pipeline of students skilled in math mechanics with a deep understanding of business. “UNC Charlotte is a place where growth happens, and if you want to be part of the growth this is where you want to be,” says Dolly King, chair of the Department of Finance. “With Charlotte as the second largest financial center in the U.S., we are in the perfect place for our graduate students to have fantastic connections to the finance, insurance and real estate industries.” The Belk College began the master’s program in mathematical finance in 2003 in response to demand from industry for students with strong math skills who could also understand the financial products the region’s growing banks offered. On the heels of that program’s launch, the Belk College followed in 2006 with its first doctoral offering, a Ph.D. in finance. In just over a decade, the master’s program has graduated more than 300 students and currently has about 100 enrolled students. It’s an interdisciplinary program set up jointly by the Department of Mathematics and Statistics in the College of Liberal Arts & Sciences and the Department of Economics and the Department of Finance, housed within the Belk College of Business. The program received its first national ranking in 2014, and was recently ranked in the top 20 among North America’s mathematical programs by The Financial Engineer. The ranking is calculated based on a series of factors including average GRE scores, starting salaries and bonuses, undergraduate GPA, acceptance rates and the number of employed graduates. Most of the math finance graduates are working at financial institutions, corporations, investment funds and government entities. “Our program, because it’s located in the business school, offers courses that teach students financial theory and not just the mechanical side,” says Weidong Tian, professor of finance and distinguished professor of risk management and insurance, who directs the math finance program. “Some programs teach students how to do the simulations, but they don’t teach how to understand the risk behind that. That’s the draw of our program. When we design courses we teach students to have a deep understanding of risk.” The program offers three concentrations. Computational finance, also called quantitative finance, is designed for students going into banking or investment banking. After the 2008 financial crisis, the
At the Fixed Income conference in spring 2015 in Charlotte, co-sponsored by University of South Carolina and the Belk College of Business.
college redesigned the program and added two new concentrations in risk management, for students going to work as regulators, risk managers or in insurance companies, as well as financial data analytics to meet the growing demand for students with a combination of finance and data science knowledge. Currently risk management is the most popular concentration. Jing Tang came to UNC Charlotte from China to study in
Dolly King, chair of the Department of Finance.
Just announced: The M.S. in Mathematical Finance program has been ranked No. 20 nationwide by The Financial Engineer.
Weidong Tian, director of the Master of Science in Mathematical Finance program.
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the graduate school and quickly changed course when the Belk College began the master’s of math finance program. He was one of the first graduates in 2004. Tang currently works in risk analytics for Wells Fargo, developing models for market risk. The degree proved valuable during the recession, Tang says, when banks and other financial institutions were facing new risk modeling requirements from regulators. “I’ve seen people come to the bank with this degree to do all kinds of jobs from risk modeling to working in the IT department. This degree does not limit you in one area, and based on your own strengths you can explore other areas.” The program invites industry leaders to teach, especially in the new areas of concentration, including quantitative risk executives from Wells Fargo and the Federal Reserve as well as a hedge fund manager to teach portfolio management. “We want students to speak the language of math and also understand finance,” King says. “Employers can hire a math person but that person may not understand how financial products are structured. Our students will have those skills and know the concepts.” Tian says the degree program’s location within the Belk College enables students to find connections with the business school’s major corporate partners, including Wells Fargo, Bank of America, TIAA-CREF and Duke Energy. The math finance program is also one of the few accredited by AACSB as well as to have STEM accreditation, which helps it attract talent from outside the United States. Most of the program’s full-time students, which make up about 60 percent of enrollment, are from China or India. Another 40 percent are students from the United States who are mostly working full-time and enrolled in the program part-time. “Most of our part-time students are domestic who easily find jobs after the first semester,” Tian says. “If they have the skills to
be in the program, we find employers want to hire them.” Full-time students usually complete the 10 courses in three semesters while part-time students can finish in two to three years. Many come from business, mathematics or engineering backgrounds. While the master’s program currently enrolls about 100 students, the Ph.D. program is much smaller, currently enrolling 18 students. “The Ph.D. is such an important program for the research profile of the college,” King says. Like most of the Ph.D. graduates from the Belk College, Jeffrey Chen, who graduated in 2014, is working in academia. Chen is an assistant professor of finance at North Dakota State University. Chen earned bachelor’s and master’s degrees in China before learning about the Belk College at an international conference cohosted by the Belk College. “The Belk College was on the top of my list because of its commitment to financial research and student success,” Chen says. “More importantly, the program has a very good faculty group. We had outstanding professors who are doing world-class research, and they are reviewers or editors of top financial journals.” Chen says working as an independent student instructor teaching financial management while pursuing his doctoral degree was an opportunity to gain valuable teaching experience. “Learning how to become a good college teacher is also emphasized in the program. By teaching undergraduate courses you can improve your teaching skills and learn how to inspire students and maximize their learning interests and abilities.”
John Connaughton gives a recent Babson Capital/UNC Charlotte Economic Forecast.
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n effort that began as a way to build the profile of a nascent university and business school has endured more than three decades and placed its founder and longtime front man as a leading authority on North Carolina’s diverse economy. Every three months for the past 34 years, John Connaughton, Babson Capital Professor of Financial Economics, spends the morning at home reviewing his data and slides and rehearsing his comments. As he has done nearly 120 times before, Connaughton will deliver a lunch-time analysis of recent economic data, sprinkled with humor and insight into where statewide economic activity is headed. The movements of the Federal Reserve, the labor pool, competing foreign economies and the stock market are made less
complicated for a diverse audience of business leaders who use the quarterly forecast as one more economic input in their next strategic decision. “I feel good about the kind of information we’ve been able to provide for the state,” Connaughton says. “We also provide analysis of what people should be paying attention to and the overriding trends. We do the best job we can in terms of understanding what’s going on.” The Babson Capital/UNC Charlotte Economic Forecast began modestly in 1981 as the idea of Connaughton and former Department Chair Young Davis, now professor emeritus of economics. Connaughton had joined the Belk College just three years before and not long after completing his Ph.D. in Economics from Northeastern University. “We were struggling to become noticed and become the university for the community,” Connaughton says. “Young Davis was always pushing me to get out there and do news interviews so the idea percolated up.” The region was hungry for economic news. The nation was reeling from dual recessions in 1980 and 1982 when unemployment nationwide hit 10.8%, the highest since the Great Depression and as of 2015 still the highest since the 1930s. Inflation was in double digits. The Federal Funds Rate, a measure so closely watched today for an increase above zero, was at a startling 20% in June of 1981. “It was a very volatile time,” Connaughton says. “A lot of people were trying to figure out what was going on. We filled that void.” As is still the case today, no other academic institution was producing a regular, data-driven look at how the North Carolina economy was performing. But gathering the data to provide a concise and meaningful look at the state’s economy was a laborious task 30 years ago. There was no internet. Data came on big format tape from the Department of Commerce or Labor Department. Some came in hard copy in the mail and had to be manually entered into Connaughton’s formulas. “Sometimes we’d have to call them up and have them fax stuff to us or read it over the phone. It was a crazy time,” Connaughton says. “Then we’d print over 1,000 copies of what was often a 12page publication and mail it out quarterly.” At any time three or four students were working on gathering and entering the data or stuffing envelopes to mail the forecast to media outlets and subscribers around the state. Today Connaughton and one graduate student compile the latest economic data with more technology.
The Babson Capital/UNC Charlotte Economic Forecast is presented every quarter and attracts hundred from the business community.
“We also provide analysis of what people should be paying attention to and the overriding trends. We do the best job we can in terms of understanding what’s going on.” - John Connaughton
professional with 37 years of experience at the University of North Carolina Charlotte who collaborates daily with the 87 full-time faculty members as well as the 3,000 students in the Belk College?” Bissell says. “It is a highlight for me each quarter.” Connaughton says he’s made a few right calls on unforeseen turns in the economy, including the Federal Reserve’s rate reduction in advance of the recession of 2008. Predicting the larger financial system collapse wasn’t prophesized by any leading economist. What makes that information available to the larger businesses community is financial support from Babson Capital, sponsor since 2010. The partnership with Babson Capital began as the global asset manager, a subsidiary of Mass Mutual Insurance, was expanding its presence in Charlotte. Sponsorship elevated the company’s profile as it was growing here, says Brian Whelan, director of corporate communications. Babson Capital Chairman and CEO Thomas Finke serves on the Belk College Board of Advisors. Over the past five years Babson Capital has grown to more than over 200 employees in Charlotte and will soon occupy its new global headquarters in an office tower under construction on Tryon Street in uptown Charlotte. “We really wanted to find ways to demonstrate that our roots are firmly planted here, and the forecast does that,” Whelan says.
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“What’s good about John is it’s not just about the forecast and what he thinks will happen but also an economics lesson at the same time,” says Steve Ott, dean of the Belk College of Business. “He is able to take concepts and put in terms we all understand. We all learn about what’s important.” Attendees come away with deeper perspective on forces at work in the economy. “I’m a fan, and I’ve created a nice following among our bankers every quarter,” says Wes Beckner, Metrolina region president for BB&T and a member of the Belk College of Business Board of Advisors. Beckner says the forecast helps him understand the operating environment for the different lines of business he lends to. It’s information he gets from no other source. “I find him to be entertaining, and he’s got a consistency in his presentation that I don’t have to re-understand information all over again,” Beckner says. “It’s a quick bite to eat, informal networking and you can hear what you need in 30-45 minutes. I appreciate UNC Charlotte taking the knowledge and resources they have and making those available to the business community.” Smoky Bissell, chairman, the Bissell Companies, and a member of the board of directors of the Childress Klein Center for Real Estate at UNC Charlotte, says the forecast is a must-attend on his calendar. “Where else could one periodically get updated by an outstanding
PARTNERS AND DONORS
ACCELERATE PROGRAM SUCCESS The Belk College’s urban setting puts its students in close proximity to businesses and industry associations that see great opportunity in their mutual success. From internship programs with global companies that are unique to the Belk College to generous scholarships for academic study and travel, Belk College students enjoy an opportunity to develop relationships with future potential employers. At the same time, those partnerships enable the Belk College to design the curriculum and programs to best meet the needs of industry.
BANK OF AMERICA APPLIED TECHNOLOGY PROGRAM
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Building on UNC Charlotte’s strong partnership with Charlotte-based Bank of America, the Applied Technology Program began in 2010 as a way to prepare students for full-time entry into the corporate workforce while still in college. The program began with a desire to build a pipeline of top technology talent locally supporting the growth needs of the bank and its business. The program started with computing and informatics students and quickly expanded to include students from the Belk College in management, information systems, finance, accounting, operations and beyond.
The 17-month internship starts in a student’s junior year and ends at graduation. Approximately 90 percent of the students who have completed the program are now working for the bank in a variety of roles, including audit, finance, production support, technical development, project management and business analytics, says Meghan Stamper, Applied Technology Program manager for Bank of America. These employees continue to grow their expertise and skill set with each
new position and opportunity to advance. As part of the program, student interns work 19 hours a week during the school year and full-time during the summer as part of a fully-functioning team within the bank. The work and study experience greatly enhances the quality of their education and their marketability after graduation. The length of the program is one of its strengths. The full 17 months enable students to fully explore opportunities across lines of business and in different units at Bank of America. “Many students start their journey wanting to work for a tech-savvy startup. After they get to know the bank and all the interesting technology and innovation we are working on, they quickly realize we have so much more to offer,” Stamper says. “Many times they don’t know what they want to do after graduation and we give them experiences that help map to their long-term objectives. In fact, a lot of finance and accounting majors end up adding a management information systems minor after being part of the program.” Part of the reason the program works so well, Stamper says, is because the bank has offices
Program participants working at the ATP site, located just off of the UNC Charlotte campus.
near the university that makes it easier for students to meet their work commitments and continue as full-time students. Also, student interns can travel to the bank’s corporate headquarters a few miles away to meet with executive mentors and receive guidance on their personal and professional development. “The mentors are leaders that are two levels above the individuals that hire them,” Stamper says. “It helps the student build a huge network before graduation. The UNC Charlotte Applied Technology Program is making a positive difference in the lives of student participants and providing them the foundational skills to have a long and successful career. It is a great example of a local partnership that is developing top technology talent for the future.”
“The Applied Technology Program has provided me an opportunity to not only explore, but to experience the day-to-day operations at Bank of America. I am very grateful to be a part of a program that provides a learning environment based around enhancing both specialized and transferable skills.” — Stephanie Madji Supply Chain & Operations
Students and partners in the risk management and insurance concentration.
REAL ESTATE PARTNERSHIPS Likewise, strong industry support has enabled the Childress Klein Center for Real Estate to build a $10+ million endowment (featured on page 8). “In addition to contributions to the university overall, donors such as Childress Klein have provided scholarships for students and funds toward faculty research,” says Alyson Metcalfe, director of the master of science in real estate program. “They have been one of our strongest supporters.”
RISK MANAGEMENT AND INSURANCE INDUSTRY PARTNERSHIPS The insurance industry faces a talent gap as senior leaders prepare to retire. As the industry grows and demands more talent, industry trade groups and corporate partners see the Belk College’s risk management and insurance concentration as a source of talent worthy of its investment. “We get tremendous industry support with many associations and companies,” says Tom Marshall, lecturer in risk management and insurance. “They provide us with experiential learning and scholarships. Our goal would be to have every student involved in an internship that relates to their career path before they graduate. That’s what we’re pushing toward. We do more and more internships every year.” So that students can gain from experiential learning, the risk management and insurance program receives significant financial support from the North Carolina Association of Insurance Agents and the NC Surplus Lines Association to pay for attendance at regional and national trade conferences.
Casualty Underwriters, Independent Insurance Agents of NC, Independent Agents of Charlotte Mecklenburg, the Charlotte Association of Insurance Professionals, AAA Insurance Company, Carolina Assurity Association and gifts from families and individuals have provided a strong financial foundation for the college to grant academic scholarships to deserving students. “About 40 students, or about half of the students in the program, receive academic scholarships each year,” Marshall says.
“Our goal is to have every student involved in an internship that relates to his or her career path before graduation.“ - Thomas Marshall
Along with those industry partners, the center is building partnerships with organizations that have closely aligned goals. In 2015, the center became a visionary sponsor, the highest sponsorship level, of the Urban Land Institute. “I have students that want to get connected in the real estate industry, and there’s no better way to do that than to go to events and network,” Metcalfe says. Through its sponsorship, the center had wide participation in a ULI symposium this year on capital markets, with Metcalfe, Dean Steven Ott and Stephen Billings, co-directors of the center, moderating panels. “For us it was great exposure and it brought interesting topics to the table,” Metcalfe says. “We had a program on crowd-funding, which people have strong feelings about, and had private equity providers explaining where they see the real estate market going. We are engaged and building relationships with the real estate community.”
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Ongoing support from the Surplus Lines Association helps to offset the cost of a yearly academic trip to Lloyd’s of London as students learn first-hand about the underwriting process of some of the most unique assets to be insured, Marshall says. Strong support from Chartered Property Dean Steven Ott served as moderator of a panel at the “Navigating Private Equity Capital Markets” symposium presented by ULI Charlotte and the Childress Klein Center for Real Estate.
TRENDS IN FINANCE
PERSPECTIVES FROM PROFESSORS THE FINANCE FORECAST: VIEWS FROM FACULTY OF THE BELK COLLEGE If you are considering studying finance, get ready to understand present and future value formulas and cash flow series calculations. But the science of allocating assets and liabilities is so much more than formulas. Finance is housing prices, energy prices, the stock market, the global economy and social entrepreneurship. The discipline includes the kinds of jobs and professional dreams that motivate business majors. Finance professors at the Belk College of Business share their thoughts on the hot topics driving the current thinking in finance and the trends that take classroom instruction out into the real world.
DAVID C. MAUER, TORRENCE E. HEMBY SR. DISTINGUISHED PROFESSOR OF FINANCIAL SERVICES It’s doesn’t get much bigger than David Mauer’s big question: When will the Federal Reserve raise short-term interest rates? And what will be the global impact?
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“That is probably the number one trending issue in finance because everything is tied up with Fed policy,” Mauer says.
When the Fed increases short-term interest rates in the David C. Mauer U.S., it will impact the housing market recovery and stock market volatility. But the rest of the world won’t be left untouched.
“We clearly are out of the recession in the United States, but Europe is not and Asia and China are not looking that good. The growth of the Chinese economy is slowing substantially,” Mauer says. Mauer raises an idea that’s almost never bantered about in mainstream business media: What if like Japan or Switzerland, the US had not just historically low interest rates but negative interest rates? “There are some economists in the U.S. that think that interest rates should be set even lower to encourage credit expansion and see people borrow money and witness the housing market recover. One concern, and the reason interest rates would need to go up, is inflation. But on the horizon we see decreased economic activity, especially in Europe and Asia. That’s deflation instead of inflation.” Negative interest rates in the U.S. are highly unlikely. And even low interest rates create difficulty for retirees who need a return on safe investments to fund their later years. But considering low or even negative rates raises all sorts of questions about the direction of our economy, especially after such a devastating recession. What might raising interest rates at the wrong time do to the economy and for students who are seeking jobs and considering buying houses? Mauer says it’s a topic that hits everyone’s pocketbook. “We’re at that inflection point in our economic recovery that any shock to the system could push us in a bad direction quite easily,” Mauer says. “I’m a researcher but I live in the real world. This is what my students talk about.”
RICHARD BUTTIMER, SENIOR ASSOCIATE DEAN AND PROFESSOR OF FINANCE Richard Buttimer’s area of expertise is real estate finance and derivatives. After the housing crash and financial crisis of 2008, most research focused on what happened to cause the collapse. The conclusion: Richard Buttimer too much emphasis was placed on getting people who were marginally qualified or not qualified to own a home. “This goes back to governmental policies from the 1990s that were bipartisan. Homeownership was seen as a way to get people out of poverty by building equity,” Buttimer says. The question now is what role is left for the banking system and federal housing agencies like Freddie Mac and Fannie Mae? “The government doesn’t want to get out of the business of the housing market. We’ve addressed that banks need to be better capitalized and we should segregate investment and commercial banking activities. What we’ve not addressed is the role of federal housing agencies. What does the new housing structure look like?” All of this matters to business students and recent graduates, many of whom belong to the 75 million-strong millennial generation who will soon be contemplating a home purchase.
“There has been a permanent shift in risk tolerances when it comes to buying housing, and many millennials are choosing to live in apartments,” Buttimer says. Buttimer says a lot of big questions in housing are left unanswered – important areas of focus for researchers. “What will the housing structure look like? What should be the growth rate in housing prices? What’s the role of the government in the mortgage market? And when will millennials begin to buy houses like previous generations?”
I-HSUAN ETHAN CHIANG, ASSISTANT PROFESSOR OF FINANCE The business environment changes fast and textbooks can’t keep up. Chiang sees his role as bringing new ideas, along with experience, faculty research and real-world practice into the classroom for a healthy debate about what works best. Chiang, along with former Professor Keener Hughen, recently received the Belk College Faculty Best Paper award for “Estimating Oil Risk Factors Using Information from Equity and Derivatives Markets,” which was published in the Journal of Finance. I-Hsuan Ethan Chiang The paper proposes a new model to understand what’s happening in the volatile oil market and its relation to the macroeconomy.
“They learned a lot and developed their own strategies,” Zhang says. “They followed the news and tried to develop their own strategies and write their strategies down. In the end only 8% of the students beat the market.”
“What practitioners do in their everyday job can be quite different from what the textbooks tell us,” Chiang says. “My role as a professor is to share with the students what I’ve learned from current research and from practitioners and stretch the students’ thinking. Having inspirational debates on competing views is truly the beauty of graduate business education.”
For the majority of students this was their first time investing. “They were overwhelmed at first but felt like experts in the end,” Zhang says. “They had big successes and big failures.”
YILEI ZHANG, ASSISTANT PROFESSOR OF FINANCE Students learn best by doing, so Zhang does her best to make her investments course feel like an authentic encounter with the stock market. Zhang’s students will participate in a stock picking project using an education platform called Stock Trak that enables students to set up a fictional stock account and Yilei Zhang then learn to pay attention to macro-economic conditions that affect their picks. “There are no unified rules in investing,” Zhang says. “There are some strategies but you have to collect information and then make your own judgement. It’s important to follow the news.” “In the spring of 2015, we saw the downside trend in oil prices. My students found it’s very hard to predict what’s going to happen in the future.” The class held a competition and those that beat the market over the 10-week trading period would get an extra bonus point on their grade.
JUDSON RUSSELL, CLINICAL ASSOCIATE PROFESSOR OF FINANCE Discussions of behavioral finance resonate with students in Russell’s investments class. “People say that the two most important days in your life are the day you are born and the day you figure Judson Russell out why,” Russell says. “I’m always trying to put out little nuggets so people can figure out that second day. You never know when that might connect with a student.” Over 20 years of teaching including receiving a an Excellence in Graduate Teaching Award from the Belk College this year, Russell says he has seen students become increasingly interested in start-up financing, entrepreneurism, idea generation, green energy, social responsibility and the potential personal fame and social good those endeavors might produce. “I’ve been at UNC Charlotte 17 years. Over that time people have gone from the idea of focusing on attaining wealth as a reason to go into finance to creating a company and doing something that makes a difference in the lives of others,” Russell says.
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“In the current business world, value is created by putting different things together. People who can integrate different fields and put knowledge together will create value for their company. For example, traditionally we educated future portfolio managers or financial managers by teaching them how to analyze financial statements. Now we want to emphasize the importance of having multiple areas of expertise. Today’s managers not only have to study securities but also understand how operational and financial strategies may affect firm value. They have to know the product, the technology and the market.”
With Charlotte’s strong presence in the banking, energy and retail industries, Chiang encourages his students to share their backgrounds and their professional experiences.
PROGRAM HIGHLIGHTS EXECUTIVE EDUCATION Change is constant in the business environment, and increasingly leaders are managing finances, technology and people simultaneously. This is where UNC Charlotte realized a need and stepped in to help. UNC Charlotte’s Executive Education programs are designed for executives, senior managers and emerging leaders. The mission: to solve business problems and to develop talent inside an organization. As Charlotte’s only research university, UNC Charlotte is positioned to meet specific business needs and develop management skills. Launched in fall 2014, UNC Charlotte Executive Education is an integral part of the Belk College of Business to deliver the full educational experience – from undergraduate degrees, graduate degrees to opportunities for executives. UNC Charlotte offers both custom programs, as well as open enrollment programs on topics including data science, business analytics, cyber security, innovation, risk management, leadership and strategic management.
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In November, Kurtis Thompkins joined as Director of Executive Education. Thompkins has an MBA from Shorter University in Atlanta and a B.A. in Business Administration from Morehouse College in Atlanta. His most recent position was with the University of Georgia, Terry College of Business, as the Director of Sales and Business Development, Office of Executive Programs.
created a symbiosis with companies and organizations that are great at what they do, and can benefit from the great work that we do in terms of research,” Thompkins said. Since last fall, Executive Education has offered a variety of programs, and has developed partnerships with Ernst & Young and KPMG. In addition, the program has been working with several large companies on custom programs. Faculty members from throughout UNC Charlotte are partnering with experienced, senior practitioners to offer programs ranging from one day to multiple days. Marcia Avedon, chair of the college’s Board of Advisors, says “On their own, companies aren’t always able to look at the entire landscape or the latest developments of an entire sector. Executive Education can help leaders learn about the latest strategies and tools, not based on history or a hunch, but real data. UNC Charlotte’s Executive Education builds the strategy and analytics muscle for leaders.” Avedon, an executive at Ingersoll Rand, is working with UNC Charlotte Executive Education on the joint development of a custom action-learning program to support data-driven strategy development.
“Technology and the business environment is constantly changing, and Executive Education is ready to respond to these needs. Our location in one of the most dynamic urban business environments has
Kurtis Thompkins is the Director of Executive Education at UNC Charlotte.
UNC Charlotte Executive Education offers custom programs and open enrollment options for senior managers and executives.
Sample of companies participating in open enrollment programs: Arts and Science Council ATI Specialty Materials BMI Energy Management Cardinal Partners Charlotte Chamber of Commerce Charlotte Regional Visitors Authority DATATECH Information Services Inc. Duke Energy Ingersoll Rand KPMG LLP Lowe’s MetLife Roach Research TIAA-CREF United Way Zapata, Inc. For more information about UNC Charlotte Executive Education, visit the website at exec-ed.uncc.edu.
BELK SCHOLARS PROGRAM IN BUSINESS ANALYTICS Big Data refers to the massive amount of information generated daily. According to experts, in today’s data-driven economy there is nearly eight times more information produced each day than currently held in the existing collections of all U.S. libraries combined. Businesses and organizations that can harness this data by collecting and utilizing it strategically can maximize their competitive advantage. The implications stretch across virtually every business sector, especially retail and health care. Now, UNC Charlotte has programs at every level – executive education, graduate education and now undergraduate education – to provide business analytics training. In 2013, Belk, Inc. provided the largest gift in the history of the Belk College of $5 million. Part of this gift founded the Belk Scholars Program in Business
WOMEN IN BUSINESS LEADERSHIP INITIATIVE While much has been done to promote women in the workplace, women often continue to face more obstacles than men when it comes to securing employment and promotions for equal pay, according to the U.S. Department of Labor. In early 2015, MetLife Foundation and The University of North Carolina at Charlotte announced a partnership to establish a “Women in Business” program in the Belk College of Business.
Big Data is an area of tremendous growth for the university. UNC Charlotte recently received a $2.1 million grant from the UNC General Administration to support research in data science and business analytics.
For more information about the Belk Scholars in Business Analytics program, visit belkcollege.uncc. edu/belkscholars.
Ted Amato directs the Belk Scholars Program and is recruiting high school students to the program. “This innovative program combines cutting edge technical training in business analytics and big data analytics with core training in business. The combination of technical training and knowledge of the business environment sets Belk Scholars Program graduates apart in seeking rewarding careers in the burgeoning field of big data analytics,” Amato said. The new business analytics concentration is part of the Data Science Initiative of UNC Charlotte.
The goal of the Women in Business Initiative is to better equip women undergraduate business students with the skills they need for career success. The program is creating enhanced experiences to help undergraduate women prepare for the world of work by improving the knowledge, skills, and values necessary to confidently enter into leadership roles. The Belk College’s Student Center for Professional Development is overseeing the program, under the leadership of Associate Dean Patricia Mynatt. “The Women in Business program promotes the role of professional women in the College and provides careerdeveloping activities to empower female and male students to achieve personal and professional goals,” Mynatt said. Highlights of the program include exclusive workshops, networking events and speaker opportunities where students can learn from successful women leaders in the Charlotte region. These events underscore important topics for working women. The initiative creates an opportunity to share
success stories of women business leaders and to showcase attractive career options and avenues for skill building. The initiative includes student ambassadors and an advisory board of executives and faculty consultants coming together to share experiences, develop programming and monitor results in terms of participation and feedback from students over time. This fall, the program distributed and discussed the book Lean In for Graduates during a kickoff event. Students shared experiences online and organized coffee conversations. Fall activities also included an intensive weekend retreat for participants to deepen leadership and communication skills. Planning for the spring includes a “Quantitative Careers in Business” panel event and a mock networking event for undergraduate women to practice relationship building skills.
For more information about the Women in Business Initiative, go online to belkcollege.uncc.edu/ womeninbusiness.
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“At MetLife, we’re committed to giving back to the communities we serve and to creating a more diverse workforce,” said Jim Boylan, vice president of human resources for MetLife. “This contribution by MetLife Foundation aligns with both of those goals while deepening our relationship with UNC Charlotte, a key partner of ours since 2013 when we first opened our doors in Charlotte. We look forward to working with the university to help cultivate the next generation of women leaders in business.”
Analytics. This program is designed to prepare undergraduate business students for careers in analytics and business innovation. Scholars participate in a fast-track program that includes a bachelor’s degree and leads directly to a master’s program in one of three areas: data science and business analytics, economics or mathematical finance. Students complete both degrees in five years. With the support from Belk, Inc., students are eligible for scholarships.
NEWS: STUDENTS GRADUATE STUDENT EARNS SECOND PLACE AT RESEARCH SYMPOSIUM Luke Fore, a graduate student in the master of science in economics program, received a second place award and $400 cash prize in the 15th annual Graduate Research Symposium hosted at UNC Charlotte’s Atkins Library in April. Fore presented in the Health and Social Sciences research category competing against research papers authored by graduate students from different North Carolina universities. Fore presented his master’s thesis research titled “The Effect of Sporting Events on Firm-Level Economic Activity in Uptown Charlotte.” In describing the research, Fore said, “The intent of this paper is to investigate the relationship between sporting events in Charlotte, N.C., and local economic activity. City governments are generally proponents of subsidizing sporting events and venues because of the belief that these events always increase economic activity.” His research investigates the impact on the revenue stream of a single firm when the Panthers and Hornets have a game at home and away.
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FRESHMAN’S BUSINESS IDEA WINS AWARDS
Bryson Allen, a Business Honors Program freshman in the Belk College of Business, has won two awards for development of the SmartBrush, a health monitoring toothbrush. He received the 2015 J. Chris Murphy Award and $500 on March 30. The J. Chris Murphy Award is presented annually to the top UNC Charlotte Undergraduate team by Charlotte Venture Challenge. He also received the top prize and $500 in the undergraduate student category of the 3rd annual Charlotte Venture Challenge Pitch Day in December. Allen developed the idea for the high-tech toothbrush with his brother Richard Allen. “I was looking into the problem that people don’t understand what is happening on a daily basis with their health,” Allen said. So he and his brother developed a concept that involved a daily activity – brushing your teeth. He said his involvement in the Business Honors Program has been valuable. “During my first semester of college I had a project in my BHP Introduction to Business class that dealt with formulating a business plan. We went through many of the steps that any company would go through when creating a business plan for a new product. I never expected that later on that semester I would go on to win the CVC Pitch Day for my SmartBrush idea,” Allen said. The next step? Product development is now under way.
ACCOUNTING STUDENTS EARN HONORABLE MENTION IN DELOITTE NATIONAL COMPETITION
STUDENT GROUP RECEIVES GRANTS TO HELP WOMEN’S CENTER UNC Charlotte Enactus has received multiple grants for an initiative to help women in Charlotte make the transition from incarceration to freedom. The grants from The Walmart Foundation and The Coca-Cola Foundation are providing support for the student group and women to develop and market a handmade jewelry line called Forward Accessories. The UNC Charlotte student chapter of Enactus is working alongside the Center for Community Transitions, a private facility that helps women make the transition from incarceration to freedom through workshops, job preparation, and life classes. Marisa Hicklen, a marketing major in Enactus, said the goal of Forward Accessories is to help the women have a sustainable source of income, while also helping the center to become financially stable. The $1,500 grant from The Walmart Foundation and the $1,500 grant from The Coca-Cola Foundation will go toward the operations and marketing of Forward Accessories. The team plans to use the grants to create an ecommerce website, create a web commercial, buy raw materials, buy equipment and to secure print marketing materials.
UNC Charlotte’s five-student team earned an honorable mention at the 2015 Deloitte FanTAXtic national tax case competition in January. The Deloitte FanTAXtic finals included nine teams from colleges and universities across the U.S. who vied for the top spot by working on a complex, issues-driven business tax case. The interactive case study competition includes role playing and presentations to help students better understand the types of experiences and business challenges they can expect from a career in tax. The finals are held at Deloitte University in Texas. The UNC Charlotte team included sophomores Lauryn Haynes and Andrew Polster and seniors Zachary Harner, Olivia Sessoms and Lindsey Yingling.
SENIOR RECEIVES TOP UNIVERSITY STUDENT AWARD
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Austin Jenkins has been awarded the 2015 Bonnie Cone Award, UNC Charlotte’s most prestigious award each year to a member of the university’s senior class. Jenkins, who graduated in May with a triple major in economics, political science and sociology and minors in history and American studies, was a full merit scholarship recipient of the E.K. Fretwell and C.C. Cameron Scholarship and was a recipient of the UNC Charlotte Alumni Association Scholarship. In addition, he received the Jordan Slusher Commemorative Inspiration Award and has been selected as Emerging Leader of the Year. While at UNC Charlotte, he served as president elect and president of the University Honors Program, president of Pi Sigma Alpha American Political Science Honors Society, vicepresident of Omicron Delta Kappa National Leader-ship Honorary Society, undergraduate vicepresident for Phi Beta Delta Honors Society for International Scholars, vice-president of Phi Beta Lambda, vice-president of the UNC Charlotte Resident Students Association, and secretary/treasurer of the UNC Charlotte Gerontology Club. He has been a member of the North Carolina Student Legislature, the Honors Society of Phi Kappa Phi and the Sigma Alpha Lambda National Leadership Honors Society.
CHEN RECEIVES CHAMBER YOUNG PROFESSIONALS AWARD Victor Zitian Chen, assistant professor of management, received the 2015 Young Professional (YP) Educator award from the Charlotte Chamber of Commerce Young Professionals (YPs). The Charlotte Chamber YPs honored 24 finalists between 21 and 39 years of age from a competitive and diverse pool of nominees in six categories. The awards were presented on April 8 at the NASCAR Hall of Fame. Chen received the YP Educator award, recognizing an individual who is a dedicated teacher, professor or administrator who has made a tremendous impact in the educational institution and community in which they serve.
ARNOLD FEATURED IN BBC’S WORK ETHIC COLUMN Denis Arnold, professor of management and Surtman Distinguished Professor of Business Ethics, shares tips for management about fairness and bonuses in BBC Capital’s Work Ethic column, considering the ethical and interpersonal dilemmas that workers face around the world. Arnold’s research focuses on business ethics, sustainability, and public policy. He has published extensively on ethical issues in international business, including labor practices in
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off-shore factories, business and human rights, and business relations with base of the pyramid populations. His publications include over 20 journal articles, numerous book chapters and six books. ROGELBERG’S RESEARCH FEATURED ON NPR The average American office worker spends more than nine hours of every week preparing for and attending project update meetings, according to the results of a survey released last week by the software firm Clarizen and Harris Poll. That’s up nearly 14 percent from the last survey four years ago. Steven Rogelberg’s research on the strategic use of meetings not only documents the negative impact of poorly run meetings on employee engagement and well-being, but identifies key practices to unlock the potential of meetings to promote innovation and critical decision making. Meetings often last longer than they need to, Rogelberg says. Many managers don’t understand Parkinson’s Law. This is the idea, backed up by research, that tasks take as long as the time allotted. If you budget two hours, it takes two hours.
PROFESSORS REVEAL COSTS OF DOMESTIC VIOLENCE IN NORTH CAROLINA One in four women will be a victim of domestic violence at some point in her
life in America. On average, three women are killed by a current or former intimate partner every day. While the emotional devastation of domestic violence on victims and their families is incalculable, a new study by researchers at UNC Charlotte attempts to quantify the hard costs. The research, conducted by economics faculty members Stephen Billings and Jennifer Troyer, reveals a staggering $307 million annual price tag for domestic violence in North Carolina. To put this figure into perspective, the economic toll of domestic violence in North Carolina every year is approximately one-third of what the state spent in the aftermath of Hurricane Hugo. “Our study illustrates the range of impacts - both private and public - as well as the prevalence of domestic violence in North Carolina,” says Billings. GODFREY RECEIVES MULTIPLE AWARDS Accounting Professor L. Howard Godfrey has received several awards this year, including the Distinguished Faculty Award from the UNC Charlotte Alumni Association and the 2015 Academic Leadership Award of the Charlotte Business Journal CFO of the Year Awards in July 2015. Godfrey is a Certified Public Accountant in North Carolina and a member of the American Accounting
FACULTY MEMBERS RETIRE Three faculty members retired this academic year, earning Professor Emeritus status:
Association, the American Taxation Association, the Financial Executives Institute and the American Institute of CPAs. He is author of Handbook on Tax Exempt Organizations. He joined the Belk College faculty in 1975.
ideas, and the cohesion and strength of relationships among family members. PH.D. GRADUATE AND FACULTY MEMBERS RECEIVE BEST PAPER AWARD A UNC Charlotte doctoral graduate and two faculty members have received a best paper award for research on gender and leadership. Samantha PaustianUnderdahl, a faculty member at Florida International University who received her Ph.D. in Organizational Science from UNC Charlotte, with Lisa Slattery Walker, Professor of Sociology, and David Woehr, Professor of Management, were recognized at the Academy of Management annual meeting this month for their work. The researchers received the Saroj Parasuraman Outstanding Publication Award for their article “Gender and Perceptions of Leadership Effectiveness: A Meta-Analysis of Contextual Moderators.” The researchers studied ratings of leaders across 99 studies across industries. They found that women leaders are perceived to be equally as effective as their male counterparts by their employees. The meta-analysis was published by the American Psychological Association in the Journal of Applied Psychology in 2014.
Nabil Elias: Having joined UNC Charlotte in 2001, Elias taught in the MBA and master of accountancy programs. He previously served as director of the MBA program. Bill Sealey: Sealey joined UNC Charlotte in 1996. He served as the associate dean for faculty and research and chair of the Department of Finance. In his career, he took on many varied leadership roles during his 18 years of service to the Belk College.
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FAMILY BUSINESS RESEARCHER RECEIVES BEST PAPER AWARD Franz W. Kellermanns, the Addison H. & Gertrude C. Reese Endowed Chair in International Business and Professor of Management, has received a best paper award with two co-authors for their research on family businesses. Kellermanns and co-authors Thomas Rieg of WHU – Otto-Beisheim School of Management and Sabine Rau of Kings College received the “Best Family Business Paper” award by the Academy of Management Entrepreneurship Division in August. Their paper is entitled “Measuring the Family: Development of Scales for the Assessment of Businessowning Families.” Kellermanns and his co-authors collected data from 245 later-generation family firms in Germany. The researchers developed a scale that is different from other types of businesses to measure success for family business. Kellermanns said two measures stood out in the research: the ability of a family business to adapt and deal with change and new
Christie Amato: Amato joined UNC Charlotte in fall 1978. Her most recent position was director of Executive Education and professor of marketing. Previously, she was associate dean for graduate programs and Cullen Professor of Marketing from 1983-1986.
BELK COLLEGE WELCOMES FACULTY MEMBERS The Belk College of Business welcomes 11 new faculty members this fall 2015:
Gregory Martin Assistant Professor
Vinay Vasudev Clinical Assistant Professor
Laura Stanley Assistant Professor
William A. Sofsky Lecturer
David C. Mauer Torrence E. Humby, Sr. Distinguished Professor
Nima Jalali Assistant Professor
Paul Tanyi Assistant Professor
Yilei Zhang Assistant Professor
Per Norander Lecturer
Marcia Watson Associate Professor
George Banks Assistant Professor
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Learn more about our faculty at belkcollege.uncc.edu.
MASTER’S PROGRAMS Transform your career and your life with a graduate degree from the Belk College of Business. Located in the heart of Charlotte’s vibrant business core, UNC Charlotte’s Center City campus is a hub for future business leaders. Whether you’re just starting your career or contemplating your next move, the Belk College of Business offers programs designed to meet your ambition, your budget and your pace of life.
BELK COLLEGE ALUMNI AWARDS
• MBA - The part-time MBA program ranked No. 20 in the nation by Businessweek • Master of Accountancy • MS in Economics • MS in Mathematical Finance Ranked top 25 in the nation by QuantNet and The Financial Engineer • MS in Real Estate • PSM in Data Science and
Business Analytics (in collaboration with the College of Computing and Informatics)
HOMECOMING 2016 Nominations are now open
u d .e c nc rds u e. wa g lle niA o kc lum l be A
Stephen Conrad MBA, ‘14
9201 University City Boulevard Charlotte, NC 28223
MAKE A GIFT MAKE A DIFFERENCE
“I received my first scholarship this year, the Jack Hogue Scholarship, which helped me pay for textbooks that have been totaling over $500 a semester. This fall, I have been honored to receive the Alumni Council Scholarship, which will help with my expenses as I prepare for graduation. I have benefited from the generosity of donors and many students need the extra support.” - Britt Nunn, Finance and Business Management ‘16 Business Honors Program
Your gift – in any amount – adds up and makes a huge difference for students in the Belk College of Business. Choose from a variety of funds online at www.giving.uncc.edu or return the envelope inside the magazine. For more information, please contact Leadership Gifts Officer Portia Brown at 704-687-7613 or Portia.Brown@uncc.edu.