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Flyer Enterprises Corporate Level

Founder’s Report 2001-2002


Table of Contents History of Flyer Enterprises…………………………………………………………………... Founder’s Report……………………………………………………………………………... Chief Executive Officer’s Address…………………………………………………………… Chief Financial Officer’s Address……………………………………………………………. Corporate Income Statement………………………...……………………………………….. Executive Advisor’s Address………………………………………………………………… New Venture Report………………………………………………………………………….. Corporate Staff Members ……………………………………………………………………. Board of Directors……………………………………………………………………………. Milestones …………………………………………………………………………………….

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3 5 7 11 15 16 18 20 21 22


History of Flyer Enterprises Flyer Enterprises has its roots in Dayton Student Agencies (DSA), a small club formed in the fall of 1998 by four students: Rene Demarchi, Emily Bracken, Todd Sharp, Matt Williams and their advisor, Professor Rebecca Wells. The purpose of DSA was to expand the learning-bydoing experience of running a small business by creating more businesses like the existing Rudy's-Fly-Buy.

Investigating New Ventures DSA's first actions as a club were to bring on new members to investigate three possible new venture opportunities. Those projects entailed a coffee shop, a bagel shop, and an extension of Rudy's clothing line. Nearly a year later, the coffee shop proposal became a reality in The Blend, while the other two projects were declared infeasible. The Blend and Rudy's Fly-Buy continued to operate for a year without much formal cooperation under the title of DSA. With two of DSA's three initial projects stagnant, there were no new venture ideas and no DSA members to investigate them. All original DSA members had graduated, quit, or started working with either Rudy's Fly-Buy or The Blend.

Developing a Board of Directors In November of 2000, Rudy's Board of Directors was found to be ineffective and the acting President of Rudy's Fly-Buy, Michele Wittmann, set out to create a new board. At the same time The Blend's first President, Michael Kaiser, was setting out to create a board for The Blend. Kaiser and Wittmann began to work together to create a board structure, because both boards had similar requirements. Kaiser and Wittmann found benefits to Rudy's and The Blend sharing a board. First, quality board members that were willing to serve were hard to find. Secondly, both felt that bringing the two businesses closer together would be immediately beneficial for student learning and the student-run business program in the long run.

Collaboration Kaiser and Wittmann sought out the recommendations of DSA's advisor, Professor Rebecca Wells. Both students asked her how to form a stronger DSA encompassing a singular 3


board. At the same time, Dean Sam Gould of the School of Business and Dean of Students, William Schuerman, found there was a greater need for university oversight of the two businesses. Thus, the idea of stronger oversight was integrated into the discussions and new members joined the group. The new members were: Kathryn Brown, President-in-training for The Blend; Robert Chelle, Director of the Crotty Center for Entrepreneurial Leadership; Richard Flaute, Executive in Residence; Todd Sharp, DSA Founder and NCR Employee; and Paula Smith, Director of Dining Services.

Benchmarking other Student-run Business Programs In an effort to capitalize on the experience of other student-run business programs, Kaiser and Wittmann took a trip to Harvard Student Agencies at Harvard University and The Corp at Georgetown University in April 2001. They spent two days talking with the students, faculty, alumni, and support staff that made each program work. Taking the ideas found at Harvard and Georgetown, the full DSA group began to form a structure they felt would work well at the University of Dayton. With a move from a student club to an organization under the School of Business, DSA changed its name to Flyer Enterprises. In Fall 2001, Flyer Enterprises held its first Board of Directors meeting led by its first CEO, Michael Kaiser, and first Executive Advisor, Professor John Shishoff.

The Student Founders of Flyer Enterprises: (from left to right) Kate Brown, Mike Kaiser, & Michele Wittmann

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Founder’s Report I initially became involved with the student-run business program at UD my freshman year. That year, several of us came together to form the Dayton Student Agencies (DSA) club in October 1998. Within the scope of DSA, I soon became involved with several other students in the formation of UD's coffee shop, The Blend. After The Blend opened, Michele Wittmann, President of Rudy's Fly-Buy, and I began to realize changes, improvements, and a new direction were needed in DSA. In September 2000, we started talking with Dr. Rebecca Wells, DSA's faculty advisor. As we progressed, others joined the group to contribute in varying ways, including Kathryn Brown, President-in-training for The Blend; Robert Chelle, Director of the Crotty Center for Entrepreneurial Leadership; Richard Flaute, Executive in Residence; Todd Sharp, DSA Founder and NCR Employee; and Paula Smith, Director of Dining Services. Out of this group, I was honored to be elected the first Chief Executive Officer of Flyer Enterprises, and am honored to be chosen to write this report. DSA’s overall goal was to expand upon the business experience that already existed at Rudy’s Fly-Buy. Flyer Enterprises, as it is today, still strives to foster the same real-world learning experience that existed at Rudy's years ago. Flyer Enterprises, however, is much different than the DSA student club of 1998. Most importantly, Flyer Enterprises now includes a centralized body of business professionals, faculty, and students to guide the entire student-run business program. This guidance is presently provided in Flyer Enterprises through the Advisory Council, the Corporate Office, the Executive Advisor, and the Board of Directors. We created this centralized structure, while still allowing strategic control of the individual businesses to remain with the businesses' student leadership. We found this to be important for two reasons. First, through its mission, Flyer Enterprises needed to be able to maintain a diverse portfolio of businesses that would require decentralized decision-making. 5


Secondly, we identified the experience of forming business-level strategy within the business to be one of the major differences between student-run business employment and traditional internships. That is, forming strategy is one aspect that makes Flyer Enterprises special for students, and thus the structure was made as decentralized as possible so that more students can engage in it. With respect to building on DSA's original concept of simply "expanding the student-run experience at UD," we have come a long way. In Flyer Enterprises' Vision and Mission Statement, we have detailed stakeholders of Flyer Enterprises and the concepts that will lead the organization into the future. This vision includes the formation of a real-world experience that will lead to real-world learning, and the idea of needed, but limited oversight and control over the businesses. Looking to the future, there is still much work to be done with Flyer Enterprises. Current businesses have exciting plans and new venture ideas that surface will need to be reviewed and given direction. In addition, the structure of Flyer Enterprises is continuing to grow and evolve. The future leaders of Flyer Enterprises will need to shepherd the organization through these and other concerns by following the established mission and vision of the organization, while at the same time working to include as many different stakeholders in the process as possible. I am assured that the passion for success shown by UD students will provide the leadership needed to make this organization continue to grow and prosper.

Michael R. Kaiser Michael R. Kaiser, Founder and First CEO of Flyer Enterprises

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Chief Executive Officer’s Address This year has been one of great challenge and great accomplishment. As a newly structured organization, Flyer Enterprises was in its infancy stages as I accepted the position of Chief Executive Officer (CEO). We were charged with the task of taking the Dayton Student Agencies foundation, coupling it with the Flyer Enterprises vision, and turning it into something concrete and functional. Naturally, this required much support and care from a committed team of people- our Board of Directors, the corporate staff, division employees, university faculty and staff, and countless other advisors. I began my term as CEO by meeting with these multiple stakeholders of Flyer Enterprises, trying to uncover their aspirations for the program in order to incorporate them into my own plans. Few people on campus knew about the new Flyer Enterprises initiative, including the employees within the four businesses: Rudy’s Fly-Buy, Rudy’s on the Hill, The Blend, and The Blend Express. Therefore, it was necessary to explain the purpose of Flyer Enterprises to others, while gaining support and credibility along the way. It was vital that the division presidents were involved in the development of Flyer Enterprises; therefore, regular meetings were set up to discuss problems within their businesses, as well as corporate-wide issues. Executive Advisor (EA), John Shishoff, and I also began meeting regularly to develop the EA position and to chart the direction of Flyer Enterprises. After arranging for an office in Miriam Hall, the small corporate staff, including Emily Gagnon, Mike Kaiser, Liz Wittenberg, and myself, worked to host a “meeting of the minds” among all division managers. These managers were given an opportunity to get to know each other, while discovering the Flyer Enterprises vision and how it would affect them. This was the first step in improving division communication and collaboration- a first step that I hope will lead to the creation and preservation of synergies among divisions in the future. 7


As financial troubles loomed, it became necessary to develop the Chief Financial Officer (CFO) position and to hire a qualified candidate that would be able to lead the divisions in producing accurate financial statements and maintaining healthy accounting systems. Lee Lust, who had joined the Flyer Enterprises corporate team to help with new venture projects, was the obvious choice for this esteemed and challenging position. In April of 2002, the vision and mission statement was formally approved by the Board of Directors, which further accelerated progress within Flyer Enterprises. The mission focused on the importance of the strategic decision-making experience found within the divisions. Aimed with a new focus on driving profitable businesses, division staff members would gain an invaluable learning opportunity that modeled business functions of the real world. However, one of the ongoing problems within Flyer Enterprises has become recruiting, hiring, training, evaluating, and retaining these dedicated and qualified managers to lead the divisions and carry out the Flyer Enterprises mission. In order to address the issue, we began to work on the compensation package for managers. We needed to decide whether the pay and benefits between divisions were equitable, while assuring the compensation package was competitive enough to attract qualified students to these management positions. We also began to outline standard hiring processes for division presidents, as well as the CEO and CFO. An evaluation system was also developed for corporate staff members and informal performance reviews were conducted for division presidents to provide feedback until an official procedure is implemented in the future. In order to facilitate the training process for division managers, the corporate staff is committed to organizing training and development sessions throughout the semester. Coined “management bootcamps,� these sessions are designed to be a quick way for managers to get up to speed on topics important to their job. Don Vince, director of Student Employment, spoke at 8


the first bootcamp about hiring, firing, and other employment issues within the university’s system. Mike Kaiser also brought the FISH! Philosophy to Flyer Enterprises, a program used by companies such as McDonald’s, Amazon.com, and Target to build commitment within their organizations by bringing life and energy to the job. Both bootcamps were highly successful, and we plan on hosting two of these sessions per semester, incorporating various topics that are important to the divisions. To continue to improve upon division relations and management education, Liz Wittenberg was selected as the Director of Internal Relations in Fall 2002. Another corporate-wide concern was the effectiveness of the Board of Directors and the overall professionalism of board interactions. In the fall of 2002, we implemented six-member executive committees to provide each division with hands-on advising from select board members. We also took steps to increase contact with our board, while enhancing the overall professionalism in which business is conducted. Becky Bjelopetrovich was hired as the first Communications Director in order to make this initiative possible. Other corporate projects tackled during the year include designing a new website for Flyer Enterprises, conducting the initial work towards a formal Advisory Council and official By-laws for the Board of Directors, devising contracts between divisions and their property owners, investigating new venture ideas, and documenting procedures within the corporate office. Most importantly, I hope to have conveyed a unique Flyer Enterprises culture that promotes a positive, open, and professional work environment where peers come together to run their enterprises, while helping each other learn and grow in the process. I am indeed grateful for the experiences-gained and the lessons-learned through working with Flyer Enterprises. The most rewarding aspect of my job has been the interaction with various influential people. Many who have changed my life forever. I would like to take this opportunity to thank the following people: thank you to Lee Lust, as CFO you were my best 9


friend and biggest critic, and always a profound influence; thank you to Mike Kaiser, my mentor and confidant; thank you to the board members who selflessly gave of their time and talents for the betterment of Flyer Enterprises; thank you to Professor Shishoff for always reminding us how far we have come; thank you to our corporate team- Becky, Liz, and Ben- for such amazing work in such a short time; thank you to Ken Soucy for your constant support and words of wisdom; thank you to Dick Flaute for always challenging us to accomplish our very best; thank you to Dr. Rebecca Wells for fighting for us, thank you to Dean Gould for believing in Flyer Enterprises as a valuable part of the School of Business; thank you to Matthew Brown, Kara LeFevre, and Brian Sullivan- it has been a pleasure working with such enthusiastic division presidents; and most importantly, thank you the dedicated employees within each of the studentrun businesses- you are the heart of it all, and finally, thank you to Laura and Brendan for keeping me sane through it all. I wish Pete Pergola the best of luck as he steps into the CEO position. His drive and foresight will lead Flyer Enterprises into the future. After all, the future is bright for Flyer Enterprises, and there is much potential for greatness. I envision the day when we are touted as another “Center of Excellence� within the School of Business. I hope that one day students must lobby to be a part of this corporation and that university staff members boast about the organization to outsiders. I look forward to the day when Flyer Enterprises is seen as the leader in student-run businesses programs around the nation.

Best wishes, Kathryn L. Brown Kathryn L. Brown, Chief Executive Officer

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Chief Financial Officer’s Address As the first Chief Financial Officer for Flyer Enterprises, I knew at the time of my acceptance that this position would offer great potential for development, stimulating challenges, and excellent opportunities for learning. When I started in late March of 2002, we had a small staff and limited resources; therefore, I found myself participating in projects and fulfilling roles not necessarily within the assigned scope of the Chief Financial Officer’s job description. Although this may have constrained my abilities to concentrate on the CFO position, my contributions in other areas were critical to the continued improvement and stability of the corporate level. During the summer of 2002, Flyer Enterprises experienced numerous challenges with existing divisions and also multiple opportunities for the formation of new divisions. Rudy’s Fly Buy, the largest division of Flyer Enterprises, had encountered a crippling failure of their accounting and point-of-sale system in the winter semester. Additionally, Rudy’s accounting staff had resigned prior to the end of the winter semester. To combat these problems, a major baselining and restructuring project was undertaken. The assembled team consisted of Rudy’s current management team, Kate Homan (Former Blend Accountant), Ann Garcia (Internal Auditor), Ken Soucy (Head of Purchasing), Delanie Moler (Investment Officer), John Shishoff (Executive Advisor), and myself. I helped to facilitate the project, identify key problem areas, and prioritize goals to make sure Rudy’s was operational for the fall semester. The project consisted of documenting and flow-charting the old accounting processes, establishing new accounting systems and communication with the University, installing and implementing a new version of Peachtree Accounting, and purchasing a new point-of-sale system. This project did not rectify all the problems with the accounting information system, but the management team and myself are committed to continuous improvement and are striving to solidify the systems. 11


Throughout the project we worked closely with UD faculty and staff to rebuild communication systems and reestablish belief in the abilities of the divisions to competently administer accounting processes. Great strides were made in these areas and the project allowed Rudy’s to re-open for the fall semester. Throughout the summer, I also worked to acquire, install, and network the latest version of Peachtree Complete Accounting for use at each division and the corporate level. Both Rudy’s and Rudy’s on the Hill (ROTH) were able to successfully implement Peachtree Accounting by the beginning of the fall semester. However, failure of our first network caused the loss of information early in the fall, and we were forced to initiate a new network within the University. We were able to do this successfully with the help of SBA IT and UD IT and now both convenience stores can produce financial statements using this system. The Blend and The Blend Express (TBE) are still working to integrate Peachtree Accounting into their current systems and will have this task completed by May of 2003. Although the summer presented many difficulties and challenges for both divisions and the corporate level, we were able to rebuild relationships with key stakeholders within the University. In addition, we were able to forge new working relationships with the Bookstore, members of the ArtStreet committee, and community business owners. Following the Board of Directors meeting in early October of 2002, I was given the task of facilitating timely, accurate, and dependable financial reporting for each division. To accomplish this large duty, I met with all the Vice Presidents of Accounting (VPA) from each division to help them develop a template for both the income statement and balance sheet. The VPAs also set dates so that the financial statements could be distributed to the Board of Directors seven days prior to the December meeting. We have made great progress in the area of financial reporting, but we are far from having the system perfected. Rudy’s, ROTH, and TBE are all still 12


working to create and maintain accurate balance sheets. However, with all the divisions implementing Peachtree the task of creating quarterly financial statements will become much easier. Increased communication among the VPAs and regular meetings has also help to overcome many problems and led to better financial reporting results. I hope to continue this trend of cooperation and provide opportunities for synergies to be created among the varying divisions. In the fall of 2002, Flyer Enterprises also saw large growth in the corporate staff including the addition of an Information Technology Coordinator. As the CFO, I maintained responsibility for this person and helped Ben Lee advance the position. To promote and educate the public about Flyer Enterprises, Ben is working to create and post an informative website that illustrates the value of the student-run businesses. In addition, Ben will be working closely with the staffs of SBA IT and UD IT to create a service level agreement for information technology problems that may occur at the division or corporate level. Flyer Enterprises would also like to create and maintain an alumni database that is accessible through the Internet to provide opportunities for University of Dayton graduates to remain involved in the businesses. I see a promising future for this position and there will be multiple opportunities for great learning experiences that will provide excellent benefits to the organization. The future of the Chief Financial Officer position is both exciting and ripe with opportunities to contribute to the advancement of Flyer Enterprises. To assist in the creation of financial statements, the next CFO should work closely with the University of Dayton Internal Auditor to form auditing procedures for the divisions and corporate level. This will help to ensure the accuracy and dependability of the reporting and also broaden the experiences of the VPAs. The production of operating budgets for each division will also be an important goal for the next CFO. The management teams at each division will be challenged to create these 13


budgets, but the benefit from the exercise will be immense. The budgets can be utilized for tracking expenses, evaluating sales, and measuring overall performance. I am fully confident in my successor’s ability to advance the CFO position, and I wish them the best of luck in their future endeavors. My time as CFO has been one of personal growth, great learning, and professional maturity. The value of this experience is immeasurable, and I struggle to express how much Flyer Enterprises has meant to me. It has had a great influence on my life and will always have a special place in my heart. I would like to thank a few key individuals because without their support none of our accomplishments would have been possible. Professor John Shishoff for his time, patience, encouragement, and advice. Deb Bickford for her unconditional support and positive outlook. The division accountants and presidents for their dedication and unparalleled commitment. Kate Homan for her expertise and perseverance. Josh Weiland for his knowledge and help. Finally, Kate Brown who continually impresses me with her intelligence, devotion, foresight, compassion, and friendship. I give my deepest gratitude and thanks to all.

Sincerely, Lee Lust Lee Lust, Chief Financial Officer

“Go confidently in the direction of your dreams, live the life you have imagined.” -Thoreau

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Flyer Enterprises Corporate Level Income Statement Fiscal Year Ending June 30, 2002 Revenue Cash Flyer Express Cam pus Requisitions Credit Card Interest Incom e

$ $ $ $ $

-

Total Revenue

$

-

$

-

$

-

Cost of G oods Sold Beginning Inventory Purchases Ending Inventory COGS

$ $ $

-

G ross Profit Expenses Payroll

Undergraduate W ork Study Staff Benefits Total Payroll

$ $ $

5,142.95 102.86 $

5,245.81

$

832.21

$

808.38

$

6,886.40

Operations a

Dues and Licenses Repairs and M aintenance Rent Interest Depreciation b General Supplies Total Operations

$ $ $ $ $ $

Advertising Donations Printing for Distr. c Office Supplies Telephone Em ployee Incentives General Insurance Share of Adm in. d M iscellaneous Total General and Adm in

$ $ $ $ $ $ $ $ $

603.90 228.31

General and Adm in

Total Expenses Net Income

303.34 233.25 271.79

$ (6,886.40)

a

P urchase of Peachtree Accounting Software Includes IT Supplies c Includes P ostage d Includes Guest Care, Teaching Aids, Freight and Express b

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Executive Advisor’s Address This was the year that the nation, Dayton, and the University prepared to celebrate the 100th anniversary of the first powered flight. That achievement did not occur overnight. It was the result of years of sustained effort by a group of extraordinary individuals. They worked diligently at their enterprise, overcoming numerous roadblocks and setbacks, until they successfully flew what we know today as the Wright Flyer. This was also the year that students, faculty, and university staff members established a corporation to manage the student-run businesses at the University of Dayton. Like the first flight, this achievement did not occur overnight. It too was the culmination of a sustained effort by a group of extraordinary individuals. Like the Wright brothers, these individuals - especially the students who took senior leadership roles in the new endeavor: Mike Kaiser, Kate Brown and Lee Lust - also worked diligently to achieve success and get Flyer Enterprises “off the ground.” The success of the enterprise thus far can be measured in terms of some very practical achievements. These include the establishment of new student-run businesses and the formalization of planning for future businesses. Initiatives to standardize accounting processes and procedures, provide management training on a routine basis, and ensure a consistent source of business advice are also very obvious practical indicators. The success of the enterprise thus far can also be measured in terms that are perhaps less obvious, but are obviously no less important. This involves a change in the culture of the student-run businesses. It includes a shift from totally focusing on individual divisions to a sense of also belonging to something larger. Embedded in this shift is a greater emphasis on collaboration and an increased awareness that the businesses need to be well managed. There would be no success though, were it not for the dedicated efforts of faculty and university staff, and the management teams in the divisions. I’m constantly amazed at the 16


expertise and individual efforts devoted to establishing and operating the enterprise. There is still much to do. Luckily, we have outstanding individuals to do it!

John W. Shishoff John W. Shishoff, CPA, CGFM Executive Advisor to Flyer Enterprises & Director, Undergraduate Programs, School of Business Administration

Rudy’s Fly Buy: The First Student-Run Business on the University of Dayton Campus.

The Blend Express: Flyer Enterprises’ Newest Student-Run Business in the Miriam Hall Atrium.

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New Ventures Smooth Operators, a juice and smoothie bar located in the UD Physical Activities Center, began as a micro-business under the School of Business’ Sophomore Experience program for entrepreneurship majors. Founded in spring of 2002, this business specializes in providing smoothies for health conscience consumers. A number of circumstances prevented the business from opening on schedule; therefore, a special agreement was made to allow the students to continue to operate outside of the Sophomore Experience. On April 30, 2002, a letter of agreement was signed by Sam Gould (Dean of the SBA), John Shishoff (Executive Advisor), Bob Chelle (Director of the Crotty Center for Entrepreneurship), Kate Brown (CEO), Lee Lust (CFO), and Jim Danis (President of Smooth Operators) that would allow Smooth Operators to operate for one year under the Flyer Enterprises’ umbrella. This would allow the management team an opportunity to prove the business is feasible before a decision is made to either close or be absorbed by Flyer Enterprises come April 2003. During the summer of 2002, Flyer Enterprises had the opportunity to investigate the creation of two new ventures. The first new venture involved a collaborative effort between Flyer Enterprises and the University of Dayton Bookstore to construct a business plan for a Spirit Shop. The Spirit Shop would be an off-campus retail operation selling imprinted merchandise and other items to alumni, students, faculty, and community members. Laura Murphy, senior marketing major, was hired to lead this process, while working closely with members from both organizations. Laura completed market research, built pro-forma financial statements, designed an operational plan, and wrote the business plan. Currently, the Spirit Shop is still under investigation and the plan will be submitted to University of Dayton officials to determine the future plan of action.

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The second new venture investigation also involved a cooperative relationship among Flyer Enterprises and multiple parties at the University of Dayton. Deb Bickford asked The Blend staff to be involved in the development of a Café in the ArtStreet complex (formerly the Learning Living Arts Center), and Kate Brown began meeting with the committee in the fall of 2001. Lee Lust took over the responsibility of working with the ArtStreet committee during the winter semester of 2002. The ArtStreet project will combine learning and living in the student neighborhood and facilitate an increased interest and exposure to an artistic environment. During the summer of 2002, Lee spent a significant amount of time researching and building a feasibility plan for a café within this new complex. After visiting local establishments and speaking with several owners, he completed the plan and submitted it to the committee in late August. At this time, a café subcommittee was formed and Thomas Ricca and Associates were hired to consult on this project. Thomas Ricca and Associates has given the subcommittee an interior design and equipment layout, in combination with an estimate for equipment and start-up costs. To move forward with this project, a financial feasibility study must be completed and alternatives for funding the venture must be investigated. Flyer Enterprises will continue to work diligently on this new venture until ArtStreet becomes operational in August of 2005.

Architectural Sketch of the ArtStreet Café & Surrounding Buildings

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Corporate Staff Members Name

Position

Year & Major

Hometown

Kathryn Brown

Chief Executive Officer

Senior, Marketing & Leadership

Columbus, OH

Becky Bjelopetrovich

Communications Director

Junior, Marketing & ENT

Chicago, OH

Benjamin Lee

Information Technology Coordinator

Sophomore, Computer Science

St. Louis, MO

Lee Lust

Chief Financial Officer

Senior, Accounting & Operations

Circleville, OH

Michael Kaiser

Consultant

Senior, MIS & ENT

Minster, OH

Peter Pergola

CEO-in-training

Junior, Political Science

Cleveland, OH

Elizabeth Wittenberg

Director of Internal Relations

Junior, Marketing & ENT

Toledo, OH

Executive Advisor: John Shishoff, SBA Director of Undergraduate Programs

Pictured (from left to right): Becky Bjelopetrovich, Lee Lust, Kate Brown, Pete Pergola, Liz Wittenberg, & John Shishoff (Not Pictured: Michael Kaiser & Ben Lee)

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2002-2003 Flyer Enterprises Board of Directors Member’s Name Sean Bartley Deb Bickford Kate Brown Matt Brown Bob Chelle Jim Danis Dick Flaute Sam Gould Sarah Grover T.J. Hunsaker Kara LeFevre Brendan McCrann Bill Schuerman Todd Sharp John Shishoff Paula Smith Ken Soucy Brian Sullivan Rebecca Wells Adam Weber

University Position SGA Student Representative Associate Provost; LTC Director CEO of Flyer Enterprises President of Rudy's Fly-Buy Director of the Crotty Center President of Smooth Operators Executive-in-Residence Dean of the School of Business President of SGA Rudy's Student Representative President of The Blend The Blend's Student Representative VP of Student Development Alumni Board Member SBA Director Undergraduate Program Director of Dining Services Director of Purchasing & Business Services President of The Blend Express Management & Marketing Professor President of Rudy's on the Hill

Rudy’s Fly-Buy & Rudy’s on the Hill: Flyer Enterprises’ Student-run Convenience Stores.

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2001-2002 Milestones January 3, 1990 October 1998 January 21, 2000 April 2-8, 2001 Spring 2001 Fall 2001 September 5, 2001 September 21, 2001

Rudy’s Fly-Buy Opens Dayton Student Agencies (DSA) is Founded The Blend Opens Benchmarking Visit to Harvard Student Agencies & Georgetown’s Corp Flyer Enterprises (formerly DSA) is Founded under a Revised Structure Mike Kaiser Becomes the first Chief Executive Officer First Board of Directors Meeting The concept for Flyer Enterprises is presented to the School of Business Administration’s Business Advisory Council October 1, 2001 Dayton Student Agencies featured in U.S. News & World Report January 1, 2002 Kate Brown Takes Over as the Second CEO of Flyer Enterprises February 6, 2002 Rudy’s on the Hill Opens February 8, 2002 Moved into the New Corporate Office in Miriam Hall February 14, 2002 First Planning Meeting regarding the ArtStreet Café March 2, 2002 First Flyer Enterprises Orientation Meeting for Managers March 20, 2002 Hired Lee Lust as first Chief Financial Officer April 22, 2002 Flyer Enterprises Vision & Mission Statement Approved by the Board April 30, 2002 Smooth Operators is approved to operate for one year under Flyer Enterprises May 1, 2002 Laura Murphy is hired to assist in the development of the Spirit Shop Business Plan September 2002 ArtStreet Café Subcommittee Formed September 16, 2002 The Blend Express Opens September 24, 2002 First Management Training Session Held with Guest Speaker, Don Vince October 5, 2002 Developed & Hired three new Corporate Staff Positions (Director of Internal Relations, Communications Director, & the Information Technology Coordinator) October 10, 2002 Flyer Enterprises Logo is Approved by the Board November 2002 First Executive Committee Meetings Held November 19, 2002 Held the Motivational FISH! Camp for Employees

The Blend: located on the ground floor of Roesch Library.

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