Loyola Executive Fall 2011

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COLLEGE OF BUSINESS MAGAZINE

LOYOLA UNIVERSITY NEW ORLEANS

FALL 2011

CoB Students Discover Cultures-and Panda Bears-Across the Globe NEW CHAIR BRINGS INTERNATIONAL BUSINESS PERSPECTIVE ALUMNUS BEQUESTS GENEROUS GIFT TO COB

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LOYOLA PARTNERS WITH SOUTH COAST ANGEL FUND

FOUR BROTHERS CREDIT LOYOLA FOR THEIR SUCCESS

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LOYOLA UNIVERSITY NEW ORLEANS Loyola University New Orleans President

The Rev. Kevin Wm. Wildes, S.J. College of Business Dean

William Locander Director, Portfolio & Internships

Kathy Barnett Associate Dean

Angie Hoffer Development Officer College of Business

Traci Wolff Loyola Executive Editor Publications Editor

Ray Willhoft ’00 Loyola Executive Designer

Craig Bloodworth Photographer

Harold Baquet Contributors

Kathy Barnett Matt Lambert ’92 William Locander

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COLLEGE OF BUSINESS MAGAZINE LOYOLA UNIVERSITY NEW ORLEANS FALL 2011

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WWW.BUSINESS.LOYNO.EDU

COVER FOCUS 6 CoB Students Discover Cultures–and Panda Bears– Across the Globe

FEATURES 10 Bringing an International Perspective to the CoB 14 Loyola Brings Angel Investors to Campus 18 A Lifetime of Investments Enhances CoB Finance Program 22 Center for Spiritual Capital Hosts Corporate Responsibility Conference 26 It’s a Family Affair Loyola Executive is published bi-annually for Loyola University New Orleans College of Business alumni and friends.

Please address correspondence to: Loyola Executive Office of the Dean 6363 St. Charles Avenue, Box 15 New Orleans, LA 70118 News and photographs for possible use in future issues may be submitted by readers.

POSTMASTER: Send address changes to: Loyola Executive Loyola University New Orleans 7214 St. Charles Avenue, Box 909 New Orleans, LA 70118 Loyola University New Orleans has fully supported and fostered in its educational programs, admissions, employment practices, and in the activities it operates the policy of not discriminating on the basis of age, color, disability, national origin, race, religion, sex/gender, or sexual orientation. This policy is in compliance with all applicable federal regulations and guidelines.

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From the Dean Quiz: What do pandas, catacombs, and ruins have in common?

Answer: Loyola College of Business Students This issue has a number of important topics, not the least of which is the international travel of our CoB students to the corners of the world.

How many students have held a real, live panda bear? How many have been in a catacomb with skulls and bones? In addition, the students who toured the Peruvian ruins saw how ancient civilizations lived in their communities.

The article on the Angel Investors Fund shows the college’s commitment to hands-on learning and real investing. Likewise, the gift from alumnus Carlos Ayala will allow our students the experience of managing a $1 million stock fund.

The Center for Spiritual Capital held an international conference on Corporate Responsibility, bringing academics from around the globe to Loyola’s campus for a three-day meeting of the minds under Nick Capaldi’s leadership. The center has made a number of initiatives, not the least of which is a new publication authored by Nick and me. The title of this publication is Spiritual Capital, The Workplace, and Entrepreneurship, and a free copy is available from the center.

Last May, we graduated the last of four brothers from the CoB. Ricardo Rivera proudly received his diploma with brothers Fernando, Osmin, and Jorge looking on. Of course, mom, Sara, and dad, Osmin, were as proud of Ricardo as they were when his three brothers walked across the stage.

The college continues its growth in the international area. (See story about Dr. Jeffrey Krug, the Jack and Vada Reynolds Chair, and his accomplishments.) Likewise, the area of entrepreneurship has made substantial contributions to our student body and the New Orleans community.

As you can see, the college is alive and thriving thanks to our hardworking faculty, devoted staff, and serious students.

God bless.

William B. Locander, Ph.D. College of Business Dean

Fall 2011 www.business.loyno.edu

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t a a but withou in h C in re he Seeing lots was one panda bear a d ol h to g doubt, gettin ver gs I have e in h t g in z a am of the most most one of the to se lo c t a h t done. To be could more than I s a w s ie c e sp endangered ical to wear surg d a h e W r. fo have asked h contact wit in re e w e w gear while – r protection ou r Ali holding a panda bear fo ot n in China the panda – e or m h uc m as bear’s. He w but for the was oo stick he b m ba e h t interested in s iconic figure re a s a d n a me! P holding than ages and their im e ur t ul c se This trip h in Chine as turned o ut to be th . re e h w y r e are eve m o s t a m a . z e in c n g ie experience exper of my life. forget this I will never In Beijing we’ve seen jor the gement Ma a n a M , li A — Forbidden City and t he old and new Summ er Palaces.

Can’t wait to travel to X ’ian next fo r the Terracotta Warriors an d biking around the walls of th e city. I am so intrigued by the Asia n culture I definitely plan on ret urning to t he Far East!

—Jill, Mar keting

Major

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edible an incr n e e b has and Europe o t ip lsinki, r e H , My t is Par n Berlin, … e has bee c n t r ie a r p e p ex orite My fav . so many d n h o t y i e w b t s erac point and int e’ve t e e m to ited. W is g v n i t e t ’v e g we tory country h c a er Fac e y a n Profes i B ls e a h sor C loc iture, t hris S n r n i u F h t creen k o e b t , r y A r o and L t d fac ) ady G visite n i la e c r aga in o , p e ( c r e M Berlin m P K om e C h f t o d r e an b m , Cha tacombs e Paris a h C t , is n I’ve led the Europe study abroad trip r li Ber the Pa for several , ia , n n o li t r s e E years now and each time I learn som B n i n i t n e e is eth u ing new Parliam iver cr and r see thin gs a I mis sed , on r oth er trips. For example, e and fel Tow this trip we visited the Paris Cat Camp, n io t a the Eif acombs. Very r t Concen interesting. Up until the late 1700 n e s u a s, Paris’ dead nh on Sachse were buried in the many cemeteries geways a s s a p located next d I am ergroun . to i pari sh d chu k n rch n u es. i In 17 86 ls e , city leaders decided th He that these cemeteries occupied land nd near . la s s I ie r a o n that was far n m li ble me i too Suomen valu d able for e the r dea c d so n a plan was hatched to ch i empty all the city’s cemeteries and away su jor a g M n i k t rebury the a n t nageme bones in caverns and tunnels left by a M , n stone mining in —Laure the Paris suburbs on the Left Ban k. Beginning that year, a nightly procession of black-draped, bone-laden horse-drawn wagons, acc ompanied by chanting priests, could be seen hea ded for the Left Bank. The process took two years to complete and the remains of more than six million Parisians were relocated. In the ear ly 1800s, Paris’ Inspector General decided to rea rrange many of the bones in artful displays. Using mainly skulls and femurs, he constructed numerous wal ls and panels that are now viewed by the many tourists who visit the Paris Catacombs tod ay. Now that’s something you don’t see every day !

—Professor Chris Screen bs Paris Catacom Lauren in the

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stic been a fanta s a h u r e P The trip to ian lots of Peruv d e it is v e ’v journey. We good now have a d n a s ie n pa com rate. ow they ope h to s a g in understand he us through t ok to s e d ui hu Our tour g Machu Picc d n a o c uz s of C s ancient citie erful historie d on w e h t d to us my and explaine hu has been c ic P u h c a ces. M of these pla r but trip thus fa e h t of t r ! favorite pa close second a ly e it in f e is d Peruvian food good meal is a , re e h s, n rlea ing Like New O tor for grow a in om n e d ommon out often the c both in and s, ip sh n io t la g re and fosterin Major of business. nal Business io t a n r te In —Arturo,

Arturo visiting Machu Picchu 8

I’m off tra velling in P eru in the western pa rt of Sout h America my study a for broad sprin g break tr ip. I’ve really gotte n to experie n c e Peru’s vast array of ric h cultural e xperiences from the c – ities of Lim a and Cuzc the ancient o to Mayan ruin s of Machu Picchu. Th e people he re have be great. The en y’ve really embraced us. I’ve been able to practice my Spanish lang skills with uage the locals.

T h e y are a patient peo ple indeed.

The highli of the trip ght so far has b een our excursion to Machu Pic chu, a sacr Incan arche ed ological site d a t in g to the 15th cent ury. That w as truly an unforgettab le experien ce.

—Manny, In ternational Business M ajor Loyola Executive

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Study abroad trips can last a few weeks, as in the CoB trips to Europe, China, and Peru, or, they can last an entire semester. The latter is what CoB student Jourdan McCullough opted for, spending an entire semester studying in Madrid, Spain, at Universidad Pontificia Comillas.

McCullough stayed with a local Spanish family in their apartment, located about a 10-minute walk from the university. While the family spoke a little English, McCullough had to speak Spanish with them for the most part, which of course helped her to hone her Spanish language skills.

McCullough discovered one of the best perks of a semester-long study abroad is the opportunity for participants to travel beyond the city they’re studying in. “I made really close friends with students from all over the world. We studied and travelled together, taking advantage of cheap flights and staying at hostels. We took weekend excursions to France, England, Portugal, Norway, Sweden, Denmark, Germany, and Switzerland. Truly amazing. I definitely recommend studying abroad to any student considering the experience.”

hagen to Copen n io s r u xc ekend e on a we Jourdan Fall 2011 www.business.loyno.edu

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“Our students will be able to walk into an interview and tell recruiters that they are graduating with a major in international business and a functional concentration in accounting, economics, finance, management, or marketing.”

—Jeffrey Krug, Ph.D.

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Bringing an International Perspective to the CoB Jeffrey Krug, Ph.D., joined the College of Business last August 2010 as the Jack and Vada Reynolds Endowed Chair in International Business. Krug previously taught at universities both here and abroad, including Penn State, Indiana University, University of Illinois at Urbana-Champaign, Virginia Tech, College of William & Mary, Virginia Commonwealth University, and University of M端nster in Germany. Before entering academia, he worked with PepsiCo, Inc., Kentucky Fried Chicken International, Texas Instruments Incorporated, the Austrian Postal Savings Bank in Vienna, and Commerzbank in D端sseldorf, Germany. He brings a strong background in economics, finance, accounting, and strategy to Loyola, where he teaches courses in strategic management and global strategy.

Krug has extensive international experience. He speaks and writes English, German, Portuguese, and Spanish and has a working knowledge of Japanese, French, and Finnish. He has lived in Austria, France, Germany, Brazil, and the United States. As an undergraduate student, he studied at the University of Cologne, Germany and University of Vienna, Austria. He has consulted extensively in Europe, Latin America, and the United States, working as an external consultant and seminar leader for leading strategy firms such as Accenture, Harnischfeger Pietsch & Partner, McKinsey & Co., and PricewaterhouseCoopers.

He has also been a consultant for organizations such as the Federal Reserve Bank of Richmond, ChemTreat/Danaher, Rural Cellular Association, Porsche, Volkswagen, Caterpillar, Deutsche Telekom, and Procter & Gamble, among others.

In his first year at Loyola, Krug worked tirelessly on behalf of the university to revive the Center for International Business. He constituted an internal International Business Governance Board, organized a faculty International 11

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Business Group, and reconstituted the International George Washington University, Washington State Business Advisory Board, working to develop strong University) that meet a rigid set of requirements in relationships with external business partners such as international business education. Members must the World Trade Center, World Affairs Council, and offer an international business major or minor, the Port of New Orleans, among many others. He foreign language training, and foreign exchange organized a new student organization called the Global programs, among other stringent requirements.

Business Association (GBA), which will be open to all Fewer than 35 universities, including Loyola, meet CBA students. An outstanding group of business these requirements.

“Our membership in CUIBE will put Loyola students from all functional majors has been organized to kick off the first activities of GBA in September. He in an elite group of institutions and improve our also initiated efforts to launch a Loyola chapter of AIE- national reputation for excellence in SEC, the world’s largest student-run organization. AIE- international business education,” Krug says.

Krug recently received international recognition SEC will be the launching pad for the development of foreign internships for Loyola students and internships when he was asked to appear on China Central Television. The nationally televised program for foreign students in New Orleans.

In addition to his work with the aforementioned focused on Krug’s research on the “Human Side of programs, Krug has initiated a restructuring of the international “My Pennsylvania German upbringing has infused business major. me with a strong work ethic, and I get enormous “One of the problems our international business majors face on satisfaction at seeing us build great programs.” the job market is that corporations —Jeffrey Krug, Ph.D. want graduates to make immediate contributions in a functional area of business. Our IB majors are very well-rounded but Mergers and Acquisitions” and is one of six, 30lack functional training that allows them to get a minute segments on mergers and acquisitions aired

by China Central Television. foot in the door,” Krug says.

Krug comments, “It was a great honor to be This problem will be addressed by restructuring the international business major so that every included in this series. They interviewed academics student graduates with a functional concentration. from Harvard, Yale, and Princeton as well as U.S. “Our students will be able to walk into an government officials and chief executive officers from interview and tell recruiters that they are large multinationals in the United States, Europe, graduating with a major in international business and Asia. It is a wonderful opportunity to increase and a functional concentration in accounting, awareness for Loyola and the College of Business.” economics, finance, management, or marketing.” It Krug has made a major impact on the College of will be a tremendous opportunity for our students Business in a very short time through his high to improve their marketability. energy and remarkable work ethic. He Recently, Krug initiated efforts to establish enthusiastically notes that “My Pennsylvania Loyola as a “full member” in the Consortium for German upbringing has infused me with a strong Undergraduate International Business Programs work ethic, and I get enormous satisfaction at (CUIBE). CUIBE is composed of an elite group of seeing us build great programs.” universities (e.g., University of South Carolina, Great job Jeffrey! Welcome aboard!

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Things most people don’t know about Jeffrey Krug

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Krug is pronounced with a German long vowel as in Krug (Bierkrug = Beer stein).

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His wife, Miriam, is from Brazil.

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They have two children. Viviane (11) is a sixth grader at Lusher. Alan (10) is a fifth grader at Holy Name.

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They have adopted and helped raise nine nieces from Brazil.

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He loves bluegrass music and plays the five-string banjo. By the age of 15, he was teaching banjo and had written a book, which he sold to his students.

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He was a gymnast in high school and worked out with Penn State at the age of 14.

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As an undergraduate student at Penn State, he studied at the University of Cologne, Germany and University of Vienna, Austria.

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He was a member of the Naval ROTC program at Penn State and later served as a supply corps officer in the U.S. Naval Reserves.

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He is proud of his Scots-Irish/German roots in the Appalachian mountains of Pennsylvania and Virginia.

“Scots-Irish/Germans are known for their honesty, strong work ethic, and rugged individualism.”

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He is an avid bulls-eye and combat pistol shooter.

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LoyolaBrings Angel A

very wise, ancient philosopher once said: “What we have to learn to do, we learn by doing.” The Loyola College of Business embraces this teaching/learning philosophy on a daily basis, providing both undergraduate and graduate students with opportunities to put into practice what they have learned in the classroom. One such opportunity came about when South Coast Angel Fund Managing Director and Loyola graduate Clayton White ’78, M.B.A. ’93, J.D. ’07 approached the CoB with an idea: provide Loyola MBAs the chance to work with an angel fund, applying their textbook learning to real-life investing. The result: the MBA Entrepreneurial Consulting course created by CoB Professor Brett Matherne, Ph.D. Angel funds are comprised of individuals (angel investors) who provide capital for business start-ups, usually in exchange for convertible debt or ownership equity. The term “angel” to describe investors originally comes from Broadway where it was used to depict wealthy individuals who provided money for theatrical productions. South Coast Angel Fund, L.L.C., is a member-managed angel capital fund designed to utilize the capital, resources, and expertise of its members and the unique partnership with

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Loyola University to help launch and grow early stage companies, primarily within Louisiana and the Gulf Coast community. According to their website (www.southcoastangelfund.com), “While return on investment is absolutely the primary goal for South Coast Angels, the group also recognizes the value of supporting the entrepreneurial community for the economic benefit of the entire region. Through initiatives including informative seminars, mentoring startup companies and early stage capital, South Coast strives to support the entrepreneurial and business environment in Louisiana and the greater Gulf Coast community.” Partners with South Coast include the Louisiana Technology Council, Simmons and White, L.L.C., and Loyola University.

The graduate students in the entrepreneurial course participated in all aspects of South Coast Angel Fund’s investment process and performed the due diligence review for prospective investments that advance through South Coast’s investment process.

“Our students have consistently stepped up to the plate and delivered,” Matherne says. “This unique opportunity drives our students to deliver consulting beyond any course requirement because South Coast relies upon their findings Loyola Executive

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Investors to Campus when investing their own money. That kind of higher education, while providing an easy to use analytical skill with ‘skin in the game’ experience interface and tools for faculty and students. South is exactly what future employers are looking for.” Coast will have two seats on Omnicademy’s When reflecting upon the partnership with executive board as part of the investment. The technology developed by Loyola’s MBA program, Omnicademy allows Clayton White “Without the partnership colleges and universities to emphasized, “Without the offer a variety of curriculum partnership with Loyola with Loyola and their to students at other and their engaged engaged students, we educational partners in a students, we could not could not have reviewed virtual setting. By offering have reviewed as many as many businesses nor these virtual classes, businesses nor performed performed the amount broadcast over the Internet, the amount of due it allows universities to offer diligence review required of due diligence review more courses and generate to make an investment in required to make an more tuition dollars while the same timeframe.” investment in the same decreasing overhead costs.

In March of this year, the timeframe.”

The real life investment students watched as — Clayton White ’78, experience in the MBA months of research M.B.A. ’93, J.D. ’07, program’s Entrepreneurial transformed into reality as South Coast Angel Consulting course offered South Coast Angel Fund Fund Managing Director students a unique announced their first opportunity to play a part in investment, made with the investment exploration Omnicademy, L.L.C. (www.omnicademy.com), a social networking process. Loyola University is committed to helping platform that enables universities and colleges to the entrepreneurial community through syndicate their courses to one another, enabling partnerships that connect students with institutions to benefit from economies of scale in entrepreneurial efforts.

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ALoyola Legacy–Three Generations Clayton White ’78, M.B.A. ’93, J.D. ’07, South Coast Angel Fund managing director, has a long history with Loyola University. Not only did he complete his undergraduate, M.B.A., and J.D. degrees at Loyola, but his father, Dominick, is a 1952 Loyola pharmacy school graduate, and two of Clayton’s children, Alex and Emily, are both currently enrolled in the College of Business. So when considering schools to partner with in the angel fund investment program, the Loyola CoB was a natural choice.

One might assume, based on White’s current work, that he would hold an undergraduate degree in business. Never assume. He graduated from Loyola with a degree in physics. That’s right, physics.

But White says his interests always went to the business side of things. In addition to his business endeavors, he still practices law, providing his business clients with legal services.

“We are very fortunate to have Clayton sharing his expertise with our students in the classroom, as well as his contributions as a member of the CoB Visiting Committee,” Dean William Locander comments.

White was back on campus this past spring teaching entrepreneurship from the equity investment point of view to our MBAs, providing real-world experiences to students. “The concept is a winning approach for all involved,” says White. He adds, “Students got to interact with successful business people—angel

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investors and guest lecturers that embody the true spirit of ethical behavior— looking to give back to their communities. The MBAs, in turn, provided a different point of view to the angel investors, adding a new level of participation and depth. And, South Coast Angel Fund moved closer to its goal of growing the entrepreneurial culture in the region as Loyola and its MBAs embraced the angel fund concept.”

Dr. Brett Matherne points out that it is not only real-world business experience White brings to the classroom but also his desire to directly impact the lives of Loyola students. “Clayton helped our MBA students create a consulting firm, made network connections available to assist in students’ job searches, and recently offered an MBA paid internship with South Coast Angel Fund. As an alumnus sending two of his children here currently, I am happy to see someone go all in with Loyola,” Matherne says.

When asked what it was like having two kids in college at the same time, Clayton laughed and gave a one-word answer: “Expensive!” He added: “You know, my dad didn’t force me to come here, and we didn’t force our kids either.

Alex and Emily chose Loyola and they both love it here, as did I.” And while we feel for him regarding the cost of college these days, we’re glad to have this third generation of the White family at Loyola. The legacy continues.

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The White Family: Alumni Clayton ’78, M.B.A. ’93, J.D. ’07 (center) and Dominick ’52, and current CoB students Emily and Alex

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Carlos Ayala ’57 18

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A Lifetime of Investments Enhances CoB Finance Program Ever since Carlos Ayala ’57 graduated with a business degree from Loyola University New Orleans, he credited his education for his remarkable success in life and as an investor. After graduating, Ayala returned home to Cuba, where he was involved in a serious car accident. While in rehab in New York, he began his career as a salesman, eventually relocating to Miami. After retiring in the mid-90s for health reasons, he concentrated his efforts on investing in the stock market. Through rigorous research and long before the ease and lightning speed of the Internet, Ayala did his homework and took his initial investment of $30,000 and turned it into millions.

Prior to his death earlier this year, Ayala made one final significant investment, this time in Loyola.

Ayala’s investment is a $1.5 million gift to the Loyola College of Business to support its finance program. A portion of the gift will add $900,000 to an existing studentmanaged investment fund, bringing its total value to

Fall 2011

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“This momentous gift will have a tremendous impact on the College of Business for a long time. The creation of a fund this size puts Loyola in a top class of studentmanaged funds in the country. Our students will have a unique opportunity to learn by investing, just as Mr. Ayala did.”

—College of Business Dean William Locander, Ph.D.

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Christner agrees that having a $1 $1 million. Finance Professor Ron Christner, Ph.D., teaches the student-managed m i l l i o n i n v e s t m e n t f u n d p u t s L o y o l a i n investment fund class where finance majors e l i t e c o m p a n y a m o n g o t h e r b u s i n e s s solely manage investments. The remainder of s c h o o l s .

“Probably at most, only five to ten the money will be allocated within the finance concentration for p e r c e n t o f b u s i n e s s s c h o o l s i n t h e scholarships, funding for U n i t e d S t a t e s e v e n h a v e a s t u d e n t more investment finance m a n a g e d i n v e s t m e n t f u n d , a n d o n l y a classes, a research database f e w h a v e a f u n d t h i s l a r g e , ” h e s a y s . system, and stock trading “ F o r o u r g r a d u a t i n g s t u d e n t s l o o k i n g for a job, being able to go into an room.

Ayala’s daughter, Lily Ayala i n t e r v i e w a n d s a y t h a t t h e y h e l p e d Berlyn ’89, says no matter m a n a g e a m i l l i o n d o l l a r s t o c k p o r t f o l i o where he was in life, her father m a k e s t h e m s t a n d o u t . ” The students that will run the kept Loyola close to his heart and wanted tomorrow’s students to have investment fund are broken into teams. the tools needed to graduate and hit Each team has to select the stocks, undertake exhaustive research, and make a the ground running.

“My dad cherished his days at recommendation to the entire class. After Loyola. It provided him with a team presentations, the class chooses wonderful education which he used for which stocks to invest in, how much, when work and investing,” Ayala Berlyn says. to buy, and when to sell. The student“He did very well including last year. I don’t managed fund has cleared more than think he had any $40,000 dollars in losses during the the past two years recession—only and has provided “My dad cherished his days gains!” two scholarships at Loyola.

It provided him “This momentous to business gift will have a students. with a wonderful education tremendous impact “When we which he used for work and on the College of started this fund investing.”

Business for a long two years ago, the —Lily Ayala Berlyn ’89 time,” says College class picked Ford of Business Dean Motor Company, William Locander, which at that time Ph.D. “The creation of a fund this size puts was trading around $2 a share,” says Loyola in a top class of student-managed Christner. “Recently, it was worth more than funds in the country. Our students will $13 a share. Now the question is do we sell? have a unique opportunity to learn by It’s a decision these students are being called investing, just as Mr. Ayala did.” to make.”

Fall 2011

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Center for Spiritual Capital Hosts Corporate Responsibility Conference Representatives from all around the globe converged on Loyola’s campus to talk about cutting-edge issues related to business sustainability in the global environment at The 10th International Conference on Corporate Responsibility.

Loyola’s Center for Spiritual Capital was honored to host the conference, which was held in conjunction with the Social Responsibility Research Network, and marked the conference’s debut in the United States.

“Sustainability is a central concern of businesses, governments, and individuals,”

“The International Conference on Corporate Responsibility is a very prestigious gathering, and to have it held on Loyola’s campus was a perfect alignment with the Jesuit mission of active involvement in critical social justice issues.”

—Nick Capaldi, Ph.D., Business Ethics Chair and CSC Director

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says Loyola Business Ethics Chair and CSC Director Nick Capaldi, Ph.D. “This conference explored the different factors that must work together in order to provide accountable, sustainable, business activity in a socially responsible setting.”

Presenters included scholars from England, India, Turkey, South Africa, and Nigeria, to name but a few of the countries represented. The conference was an interesting mix of topics and perspectives including presentation titles such as: The Responsibilities of a Corporation: An Analytical Appraisal and Perceptions of Chinese Executives of Foreign MultiNational Enterprises about Corporate Social Responsibility Programs in China.

“The International Conference on Corporate Responsibility is a very prestigious gathering, and to have it held on Loyola’s campus was a perfect alignment with the Jesuit mission of active involvement in critical social justice issues. We are honored to have hosted it on our campus,” adds Capaldi.

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The Center for Spiritual Capital is pleased to announce its first publication: Spiritual Capital, The Workplace, and Entrepreneurship, co-authored by Nicholas Capaldi, Ph.D., and William Locander, Ph.D. The guide, geared towards understanding and practicing spiritual capital in the workplace, is available upon request by contacting Stephanie Willis at stephaniewillis@cba.loyno.edu

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CoB Recognizes Achievements of its many Outstanding Students More than 50 CoB undergraduate and graduate students and faculty were honored at the Spring Annual Awards Ceremony. The photos on these two pages represent just a few of our award-winning students—we wish we had room for more!

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Students in Free Enterprise Regional Competition: Jani Jackson and Caitlyn Ryan.

N.O. Chapter of the Society of La. Certified Public Accountants. Presented by Gina Rutley, CPA to Anthony Sedlak.

Alumni Association Graduation Award. Presented

by Traci Wolff to Dylan Kremer.

Northwestern Mutual/Hornsby Agency Scholarship.

Presented to Kayla Butler by Associate Dean Angie Hoffer.

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Richard Drew Wilkie Memorial Scholarship.

Presented by Sgt. Hasselback to Justin Frank.

Beta Gamma Sigma Scholarship. Presented to P.K. Kim by Associate Dean Angie Hoffer.

Beta Alpha Psi Professional Honorary Accounting Society Award. Presented by Dee Dee Buris to Gavin Pitre.

Beta Gamma Sigma Honor Society Award.

Presented by Bryan Ford to Kevin Tran.

Jesse Barfield Award for the Outstanding Accounting Graduate. Presented by Dr. Daphne Main to Emilee McKevitt.

William Locander presented Dean’s Honor Awards to 14 students including Jordan Hunting.

Fall 2010 www.business.loyno.edu

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The Rivera brothers, all Loyola graduates (Fernando ’04, Osmin ’05, Jorge ’07, and Ricardo ’11) describe themselves as a united family. So united in fact that Osmin, Jorge, and Ricardo all followed in the footsteps of oldest brother Fernando, enrolling in Loyola for their college

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education. As further evidence of their unanimity, all four graduated with degrees in business and all four majored in finance.

Having been accepted at several top U.S. schools, Fernando ultimately chose Loyola for several reasons. “Loyola has a very good reputation in Honduras, and the

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The Rivera Brothers: Fernando, Ricardo, Osmin, and Jorge

university was very generous in its scholarships to international students, awarding me the Ignation scholarship. As children, we used to visit family in New Orleans almost every year and thus grew to love the city.”

His brother, Osmin, concurs. “With

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every beignet, every Saints game, every crawfish boil, and every po’ boy we ate, our love for the city grew.”

Fernando graduated in 2004 and is employed with Goldman Sachs in New York City. Fernando met his wife, Cinthia Martinez, at Loyola during a Mass at

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Ignatious Chapel. Fr. Gros, who said the Mass that day, would go on to marry the couple five years later in Honduras.

Fernando and Cinthia now have a son, Fernando Emilio, expected to be a future Loyola alumnus as well.

Finance Professor Ron Christner, Ph.D., taught the brothers and has fond memories of all four. “The thing that stands out about all four was their work ethic, and after dining with their parents, I know it was likely inculcated in them by their parents. They were by far the most hard-working, dedicated, and most intelligent students I have ever known. Fernando acted as an equal partner with the faculty and was involved in our bank study in Central America in association with the USAID. He not only translated with the bank executives but also suggested and formulated questions we should ask. During our governmentfunded research trip many years ago, we had dinner at the Rivera’s Parents Osmin and Sara Rivera enjoy the 2011 graduation festivities. house in San Pedro Sula, Honduras. I have always said their mother by far made the best “Our mother was the person who sat down with us dinner we had in all our Central every day after school to help us with our homework American travels.” and studying. She taught us the meaning of hard work The brothers have fond and dedication. Our father taught us discipline and memories of their time at Loyola as well. Jorge remembers being the value of family.” nervous when arriving at Loyola, —Fernando Rivera ’04 concerned about his ability to adapt to a new place and culture.

Next to arrive at Loyola was Osmin, But once he arrived and experienced and like his brother, met his wife, Maria Loyola’s welcoming environment, his fears Torres ’06, while at Loyola. He too is disappeared. One of his accomplishments employed by Goldman Sacks and lives in while in the CoB of which he is most proud stems from his financial accounting class.

New York City.

Jorge, who recently became engaged, He spent time tutoring students who were transferred with JP Morgan from New York struggling with the class. “Seeing those students pass the class with good grades City to Mexico City a few years ago.

The youngest brother, Ricardo, made me feel very proud.”

The brothers agree that their studies graduated in May 2011 and is working for Deutsche Bank, also in New York City. at Loyola helped to prepare them for their

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careers, both through their coursework in the CoB and the Jesuit values they incorporate into their daily lives. “Giving back to our communities is at the core of our values,” says Osmin. They also credit their success to God, who has been a presence in their lives since they were young, and to the guidance and love they received from their parents, who Jorge describes as “the best gift from God.” As Fernando fondly remembers, “Our mother was the person who sat down with us every day after school to help us with our homework and studying. She taught us the meaning of hard work and dedication. Our father taught us discipline and the value of family.”

An Ignation scholar himself, Fernando and his brothers were inspired by the assistance they received while at Loyola and are in the process of establishing a scholarship for other students from Honduras to study in the CoB. The CoB has a strong tradition of enrolling students from Honduras and other Latin American countries.

Once fully endowed, the scholarship will provide assistance for Honduran students for generations to come.

“Scholarships such as this allow us to attract and retain the best and brightest students,” says Dean Locander. “Scholarship assistance is often a determining factor in a student’s ability to attend or remain at Loyola. We are grateful to the Rivera brothers for giving back what they were so freely given.”

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When asked “who was the smartest and who was the funniest” they all had different answers and all prefaced their answers saying: “Don’t tell them I said this.” Here is what they thought: Osmin: “Since Fernando, Jorge, and Ricardo are in a tie for the smartest, I would like to think I am the funniest!”

Fernando: “Osmin is the smartest and Jorge is the funniest.”

Jorge: “Fernando has the best language skills, Osmin and Ricardo are the most disciplined of all, and I consider myself the quantitative guy.”

The clown is definitely Osmin.

The Athletes: Osmin and Jorge And they all agreed that since Ricardo is the youngest, he is definitely the most spoiled.

And even though all four brothers live busy lives, the entire family manages to stay very connected.

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CoB Students and Alumni gather to celebrate the 2011 Senior Class The Annual CoB Dean’s reception was attended by many CoB grads—both old and new—and their friends and family. A good time was had by all!

Andrew Austerman and parents.

MBA graduate Kelly Spears and Associate Dean Angie Hoffer.

Professor Chris Screen with CoB grad Alex Auger and parents.

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John ’61 and Judy ’63 Henneberger, Jan and Bill Locander.

Dr. Bill Barnett visits with CoB grads Wayne del Corral, M.B.A. ’91, Floyd del Corral ’51, Brenda Reilly, John Reilly ’61.

CoB grad and former SGA President Sarah Cooper and friend.

Daniel Pattillo makes his celebration a true family affair.

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