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COLLEGE OF BUSINESS MAGAZINE

LOYOLA UNIVERSITY NEW ORLEANS

FALL 2009

The World Is Our Classroom Students Go Global In Europe and China

USING FLIP-FLOPS FOR SOCIAL CHANGE PROFESSOR’S WEST TEXAS STATE OF MIND

TIPS FOR A SMALL BUSINESS

ALUMNUS HELPS OTHERS NATIONALLY AND INTERNATIONALLY


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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 Coordinator of Internships and COB Marketing

Kathy Barnett Associate Dean

David Luechauer Associate Dean Educational Systems

Angie Hoffer Area Chairperson of Accounting, Economics, and Finance

Lee Yao Area Chairperson of Management, Marketing, and International Business

Kendra Reed Major Gifts Officer College of Business

Traci Wolff Loyola Executive Editor Publications Editor

Ray Willhoft ’00 Loyola Executive Designer

Craig Bloodworth Photographers

Harold Baquet Tracie Morris Schaeffer Weddle Photography Contributors

Kathy Barnett Catherine I. Koppel William Locander Carmen Sunda Europe Photos

Courtesy of Chris Screen China Photos

Courtesy of Brian Danos


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COLLEGE OF BUSINESS MAGAZINE LOYOLA UNIVERSITY NEW ORLEANS FALL 2009 • VOL.2 • NO.2 • WWW.BUSINESS.LOYNO.EDU

COVER FOCUS 6 The World is Our Classroom

FEATURES 14 The Flip-Flop Guy 18 Five Ideas for Small Business Survival in Tough Economic Times 22 The Eyes of West Texas are Upon You 26 From Lafayette to Loyola to Belize —A True Global Citizen

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 In some way, the cover tells it all. The College of Business is, through its students’ experiences, enhancing both our undergraduate and graduate education. The cover shows our students in Vienna this summer experiencing Austria during their studies abroad. Likewise, other Loyola students visited China and, I am sure, had equally valuable international exposure to another culture. It is my hope that in the not too distant future, all of our students (undergraduate and graduate) will leave Loyola with some form of international experience. This issue is full of interesting stories. Don’t miss the entrepreneurial journey of Kyle Berner, a.k.a. “the flip-flop guy.” What makes Kyle a credit to our college is his concern for the social issues in Thailand by returning a percentage of sales to the country where his high quality products are produced. Likewise, Greg Fontenot, a College of Business student, was honored by the university for all that he has accomplished during his years at Loyola. All of us in the college admire and applaud Greg’s many accomplishments and wish him the best as he moves on to pursue more volunteer work in the Jesuit tradition. By the way, as dean, I am particularly proud that of the six Loyola students going on to Teach for America, five are College of Business graduates. They are also some of our best and brightest. One of the “hidden” assets of the College of Business is our affiliation with the Louisiana Small Business Development Center. Loyola has played a distinguished role in working with the LSBDC and in doing so has helped entrepreneurs and small business owners flourish. Carmen Sunda and her staff work tirelessly to maximize the impact of the agency. If you have not met Dr. Jerry Goolsby, you will want to after reading his profile and about his West Texas roots. This May, a special group of students, known as the “Katrina Class,” graduated. We thank them for their commitment to Loyola and the New Orleans area. Take a look at some of their photos from the CoB Senior Reception and Awards Ceremony. Lastly, I want to thank the faculty, staff, and students for making my first year as dean a productive one. Stay tuned . . . more to come!! Sincerely,

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

Fall 2009 www.business.loyno.edu

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The World Is Our Classroom

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Students Go Global In Europe and China

The Loyola College of Business Approach

The value of higher education to college students is found not only in a classroom but in their willingness to look beyond their immediate worlds and open themselves up to new experiences and cultures. Along with semester-long study abroad programs offered by Loyola’s Center for International Education, the College of Business offers summer study abroad programs to Europe and China. This past summer, students on the Europe trip found themselves in Prague, Budapest, and Vienna, while students studying in China visited the cities of Beijing, Xi’an, and Shanghai. What better way to learn about international marketing, finance, or economics than to experience these things first hand? Dr. John Levendis, one of the faculty members for the Europe trip, has traveled to Europe many times and commented that with every trip he comes back a slightly different person. “You discover new cultures, foods, political beliefs, economic systems, and ways of living. The trip is always exciting, and traveling with students lets me relive the excitement of discovering a world different from the one back home.”

Fall 2009 www.business.loyno.edu

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Destination: Europe

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Twenty students traveled to Europe this past June seeing Czechoslovakia, Hungary, and Austria in just two weeks. The annual study abroad trip was part of two academic courses offered by the College of Business: The Economic History of Europe taught by Professor John Levendis and Law for International Business taught by Professor Chris Screen. Students had the opportunity to visit some of the most famous sites in Europe while

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1. A visit to the Summer Palace in Vienna 2. Levendis and Screen choose their weapons 3. CoB student Gabe Ibars tickles the ivories at the Bodendofer Piano Factory in Vienna 4. Waiting for the “Loyola Shuttle” in Prague

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learning about the development of the European economy and its laws through site visits to international businesses and organizations. Their two-week journey included visits to Budapest, Prague, and Vienna where students toured Parliament, St. Stephen’s Cathedral, the Austrian Office of Pfizer Corporation, Staropramen Brewery, Czech TV, Hewlett Packard, and many others. This was an eye-opening experience for many of the participants, and they were happy to share their experiences with us. Brittany Voelker recounted her experiences. “The Terror House in Budapest was really something to see. It was interesting to experience what Hungary went through when communism came to power. It affected the lives of every citizen so deeply. I found that the citizens of the post-communist nations seemed so expressionless when it came to social situations. I wondered if that was an artifact from communism. From a business perspective, the most surprising thing I learned was how strict the advertising laws in Austria are. Very different from the U.S. I learned a lot about running corporations internationally, and even though I don’t plan to do that in my career, I can take what I learned and apply these concepts on a smaller scale.”

Fall 2009 www.business.loyno.edu

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“Everything about Budapest intrigued me. I spent my birthday on a boat on the DanubeRiver, carried around currency that had the number 5000 on it, climbed up to the Royal Castle to see the most breathtaking view of the city, and saw these amazing 12-year-old kids doing a tribal dance in Heroes’ Square. The whole city was just mesmerizing.” –Alison Meyer, Business Student

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1. Time for a break at the UN World Clock 2. Finding a true global perspective at the United Nations Headquarters, Vienna 3. Students try out modern seating in Vienna 4. “What do you mean you don’t serve crawfish?” A sidewalk café in Budapest 5. Ice Cream! The universal sign for happy students.

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“From a business perspective, the most surprising thing I learned was how strict the advertising laws in Austria are. Very different from the U.S.” –Brittany Voelker, Business Student

Fall 2009 www.business.loyno.edu

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Destination: China

A month after the European trip, a different group of students headed for China. Drs. Wing Fok and Lee Yao accompanied them and once again, in addition to a fabulous experience, the students received academic credit for the trip through two courses: International Accounting and International Business Practices in China. Participants were exposed to contemporary Chinese history, culture, and business practices in the fascinating cities of Beijing, Xi’an, and Shanghai. They visited the Great Wall, the old and new Summer Palaces, and the Forbidden City in Beijing. In Shanghai, they explored the famous Water Town Shanghai History Museum, and in Xi’an, the Big Mosque, the Terracotta Warriors, and the Big Goose Pagoda. Brian Danos, a Loyola MBA student, had an interesting interpretation of what he experienced. He said: “Western media, such as CNBC and The New York Times, depict China as a unified communist state bristling to dominate this new century. However, when you visit the Middle Kingdom you do not find one cohesive China, but many Chinas all uniquely blazing a path between the appearance of socialism and street-level hyper-capitalism.”

Global Lessons

What better way to understand another culture than to experience it? Travel to another country not only teaches students about things like a 55-percent tax rate in Hungary,

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6 but also how similar people are in their needs and wants. When all is said and done, business abroad wants to serve customers and make a profit, consumers want to be served valued products, people want to have lovely relationships at home, employees want meaningful work with fair pay, and everyone wants some form of spirit in their lives. An important global lesson—people are not all that different. A lesson that will serve Loyola students for a lifetime! 1. Drs. Fok and Yao posing as tourists 2. Visiting the city of Xian 3. Yao and students “take their mark” at the Beijing Olympic site 4. The Great Wall—be sure and pack your walking shoes 5. In the heart of Tiananmen Square 6. Wannabe Loyola Olympians at the Water Cube

Fall 2009 www.business.loyno.edu

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Kyle Berner ’03

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The Flip-Flop Guy Using the Power of Capitalism To Create Positive Social Change

When you first meet Kyle Berner ’03, co-owner of the flip-flop company Feelgoodz, it’s hard to figure out what you like best about him. Is it the fact that he thanks you twice for buying him a $3 cup of coffee? Or is it that he has taken time out from his busy schedule to meet with you for an interview in the first place? It could be his passion for what he does. Maybe it’s that he tells you so many funny stories about his first year in business. Then there’s the moment when he gets choked up talking about the people of Thailand and his determination to give back to them. Whatever it is, it’s all rolled up into one young, successful, humble, flip-flop-wearing social entrepreneur. Berner, a 2003 graduate of the Loyola College of Business, started his flip-flop company in 2008. It wasn’t part of some grand vision he had carried around with him for years. It just sort of evolved while he was

Fall 2009 www.loyno.edu

exploring life. Berner is the first one to tell you he has had a very unorthodox career path (which is ironic considering one of his jobs was at a university as a career coach). At 28, he has been a record producer, worked for a large computer company, and managed a hot dog cart. It was the hot dog cart that led him to Thailand. There he is one evening on the streets of Austin, Texas, hawking hot dogs when a guy walks by and asks him if he knows of a good Thai restaurant. He didn’t. But the two started up a conversation with the passerby telling Berner all about his recent trip to Thailand. Berner was intrigued to say the least. He sold his car, bought a oneway ticket, and spent a year immersing himself in the culture of a people and a country he soon grew to love. He ended up in the city of Phitanulok where he lived and worked as an English teacher for a year. Being among the people of Thailand for 12 months, he grew to love their culture and their simple way of living. He experienced their willingness to give—of themselves, their time, their food, their homes—to this young American that had landed in their village. He was so moved by the Thai people who gave and gave when they themselves had so little that he knew he had to do something for them in return. But what? The thought stayed with him when he moved back home to New Orleans. On a subsequent trip back to Thailand in 2008, he happened to buy a pair of flip-flops from a Thai street vendor. To his amazement, they were the most comfortable flip-flops he had ever worn—and Berner had worn a lot of flip-flops in his time. Besides comfort,

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the flip-flops were made there in Thailand by a family-owned business and the product was eco-friendly. Soon Berner was looking up the company’s website and striking a deal to sell their flip-flops in America. As Berner says: “You have to take advantage of opportunities you’re interested in even if you don’t know where they might lead you.” He and his business partner, Joel Neland, started with a $25,000 investment. With a recent foray into Whole Foods Market, Feelgoodz has gone from selling 400 – 500 pair of flip-flops a month to 5,000 pairs in six weeks. That’s a whole lot of flip-flops—if Feelgoodz sustains those numbers, that’s 60,000 pair a year to be exact at an average price point of $19.99 a pair. Most business folks will tell you that a 1,000-percent increase in sales over the course of your first year in business is not a bad place to be. Feelgoodz will soon move into the West Indies and South American markets. Their website can handle both retail and wholesale orders, and they are currently in 45 stores from Hawaii to Maine. Berner sees more products down the road once the flip-flops are established and there is some money in the bank. Any future products have to meet the Feelgoodz criteria: green, ethical, and comfortable.

Social Entrepreneurship

Berner in Thailand tapping a rubber tree. 16

It is not just about sales and profits. Most important to Berner is the social entrepreneurship element to this story through plans to give back. Beginning in December of this year, Feelgoodz will donate three percent of its revenues back to the people of Thailand. This will happen through a partnership with a non-profit organization called Ashoka, a self-described global association of the world’s leading social entrepreneurs. Berner says: “I’ve always believed that the most sustainable Loyola Executive


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model of creating positive social change is to support didn’t reflect the personality of the company. So Berner the change makers at the ground level—the people had custom Feelgoodz decals produced and applied that are really trying to help their communities—and directly to the van and thus, the Flop Mobile was born. Ashoka does that. They have more than 73 Ashoka Now it was hard to miss. And off they go to Texas. Fellows in Thailand. We donate a percentage of our When Berner returned home, he knew he obviously revenues to Ashoka, and then they funnel the money could not return the van in its current state. As any as stipends to their Fellows.” good entrepreneur knows, ingenuity in business is a key Ashoka Fellows are the individuals who do the actual requirement for success. So with heat gun in hand, work to bring about positive social change around the world. Their “It’s important for anyone that wants to be an entrepreneur businesses and associations are to have a vision, adaptability, energy, tenacity, passion, engaged in projects to improve the and problem-solving skills.” conditions of the poor and ––Kyle Berner ’03 disadvantaged in areas of health, education, the environment, and human rights. Berner goes on to say, “Partnering with Berner painstakingly removed each and every decal Ashoka is a perfect fit. Ten years down the line let’s say himself. Then he had the van detailed and returned it we’ve given millions of dollars to the Fellows in Thailand. in immaculate condition and the still unnamed wellWhat next? Ashoka is global so we can use this model and known car rental company was none the wiser. A bit just expand it to other countries—India or Vietnam for risky? Sure, but isn’t that what being an entrepreneur is instance. It took me a long time to create the right model all about? and find the right partner in Ashoka, but once we did that When asked about what advice he had for others we can see the vision. This is how I can make the most interested in social entrepreneurship Berner didn’t impact.” Berner’s framework for affecting positive social hesitate. “If you’re drawn to something you’re drawn for a change includes three elements: fair trade, micro-finance, reason. Explore that—give it a try and find a way to make and community development. He and his partner plan to it work. Think about the model and how your ideas are work this model into their website so people making going to play out. Have a vision stated that will get you purchases can see to whom and where their money is going. there.” And don’t be afraid of hard work. It’s important to Berner that this be a Berner says: “There’s the part of the conversation that saying about the harder people have about Feelgoodz. you work the luckier Then there are the you get. I’ve been stories about his first year very fortunate in in business. When you that, throughout are running a start-up this whole process, business there isn’t a lot things have gone of money for purchasing my way, but I’ve a customized company worked really hard to vehicle to promote your make it happen.” The Flop Mobile product. Not a problem for The flip-flop guy has indeed the flip-flop guy. Berner went to put his best foot forward. one of the better known car leasing companies (who For more information on Feelgoodz, visit shall remain nameless as what they don’t know won’t www.feelgoodz.com hurt them) and leased a white van for a month for his For more of our interview with Kyle Berner, Texas trip. A white van is pretty generic though and visit www.business.loyno.edu Fall 2009 www.loyno.edu

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Five Ideas for Small Business Survival in Tough Economic Times

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Tough economic times, tight credit, and recession are words that usually strike fear in the heart of a small business owner. While the small business can be especially vulnerable in an uncertain marketplace, there are also many opportunities for success. A proactive approach will enhance the prospects for short-term survival and can facilitate long-term success. Here are some tips for navigating the current economic crisis.

CashIs IsKing King 1. 1.Cash The most important step is to manage your cash flow. This can be accomplished by developing an up-todate accurate cash flow budget for at least the next 12 months. This will require that you understand all monthly operational costs and determine your cash flow break-even point. If this analysis does not prove as liquid as you need or desire, then you will have to ask some serious questions. Can any monthly operating costs be reduced? Do you have any unused assets that can be sold? Are there any receivables that can be collected? Are employee bonuses based on generating measurable results? Can inventory costs be reduced through consignment sales? Can you request or negotiate extended terms from vendors? Do you overspend on needless office supplies like premium paper, bottled water, and gourmet coffees? What is your debt capacity? Can your debt be restructured? It is always important to know your seasonality and precisely when your cash shortages will occur, but this is even more critical in tough economic times. Therefore, the time to be cautious with cash is while it is still flowing, not when it is critical. Fall 2009 www.loyno.edu

2.2.Failing FailingToToPlan Plan IsIsPlanning PlanningToToFailFail This is the perfect time to evaluate your business continuity and business interruption preparedness. However, a continuity plan is not just for natural and big disasters. A continuity plan should plan for the small everyday glitches such as a computer crash, an employee error, or a power outage. Generally, when a small business is well prepared for the high frequency, but low impact business interruption, then they will be much more prepared for the low frequency, but high impact interruptions. A well thought out continuity plan implemented on a daily basis can increase operating efficiency, reduce operating costs, and decrease the amount of down time in any type of business interruption, including tough economic times. Remember the old motto, “tough times never last but tough small businesses do.”

3.3.Think ThinkOutside OutsideTheTheBoxBox Getting customers through the door will likely require you to reevaluate your business and the way you do business. It may require that you let go of traditional methods such as newspaper advertising and utilize the Internet or create a website. Likewise, don’t underestimate social networking, other media, and blogging. This may be the perfect time to investigate that class on Twitter or website design you’ve been putting off. Can you bring your business to your customers instead of waiting for them to come to you? Are there other target markets that you can attract? For example, a fine dining restaurant that

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becomes the “wedding event place” or an art supply retailer that hosts a regular indoor arts and crafts event (similar to a farmer’s market). Think about a retail music store that has related music merchandise on consignment. In other words, think of ways to create a “buzz” about your business and keep yourself top of mind with your customers.

WatchForForMarket MarketOpportunities Opportunities 4. 4.Watch StrengthenYour YourNiche Niche AndAndStrengthen One interesting phenomenon that occurs when other businesses around you are closing is that a market void may now be created. Don’t assume that the other guy’s business closed because the marketplace could not support it. The failure of your neighbor may create a vacuum for you to fill. So, now is the time for your business to re-connect with your customers, focus on your value proposition, and maintain your delivery of quality products and services and any value added services. Consider gorilla marketing techniques such as e-mail marketing, special event sales, and instore specials. Focus on sales efforts as opposed to advertising and marketing. Emphasize and reward sales efforts with every employee, even non-sales staff. Avoid discounting everything as this new discounted price now becomes the established price. However, can you add a lower cost product or increase a product line with the potential of increased sales? Evaluate generic brands, second-hand goods, repair services, recycled products, and refurbished goods with a warranty. These types of goods and services tend to do well in a recession.

5. 5.Invest InvestIn InYour YourEmployees EmployeesAndAnd Your YourTechnology Technology Maximize their value by training them to be efficient with their work. Cross train 20

employees and provide them with the technology and resources they need to do their job. Try not to lay off any employees at this time, as this may send a negative signal to both employees and customers alike and reduce morale. Evaluate and assess the utilization of technology in your business. Consider investing in technology that can increase the efficiency of your business and employees. Inventory management software and business management software can be very helpful in tightly managing financial resources and inventory. Utilize the Small Business Development Center Resources A business evaluation and assessment with an outside business professional can be extremely helpful and have positive A business evaluation and assessment with an r e s u l t s . L o y o l a U n i v e r s i t y N ew O r l e a n s , outside business professional can be extremely along with collaborative partners the helpful and have positive results. Loyola University University of New Orleans, Southern New Orleans, along with collaborative partners the University at New Orleans, and the South L o uUniversity i s i a n a ofENew c o n oOrleans, m i c Southern C o u n c iUniversity l (Bayou at New Orleans, and the South Louisiana Region), hosts the Louisiana Small B u sEconomic i n e s s DCouncil e v e l o p(Bayou m e n t Region), C e n t e rhosts G rthe eater N e Louisiana w O r l e a nSmall s R e Business g i o n . T hDevelopment e S B D C t eCenter chnical a s s Greater i s t a n c e New s e r v iOrleans c e s a n dRegion. r e s o u r The c e s eSBDC mpower s m atechnical l l b u s i nassistance e s s o w n eservices r s a n d and e n t rresources epreneurs w i tempower h t h e rsmall i g h tbusiness t o o l s ,owners techn i c aentrepreneurs l assistance, and a n dwithr e the s o u rright c e s tools, t o htechnical e l p t h eassistance, i r b u s i nand esses s t a resources r t , g r o w,to ahelp n d their s u c cbusinesses e e d . T hstart, e S Bgrow, D C and offers h i gsucceed. h q u a l iThe t y aSBDC n d c ooffers n f i d ehigh n t i a lquality c o n s uand lting w i tconfidential h a t e aconsulting m o f with e x p ae rteam i e n cofeexperienced d business professionals in a wide variety of business professionals in a wide variety of disciplines and industries. The SBDC disciplines and industries. The SBDC’s special s p e c i a l e m p h a s i s i s o n c a s h f l o w, a c c e s s i n g emphasis is on cash flow, accessing capital, financial capital, financial resources, loan resources, loan packaging, technology and packaging, technology and e-commerce, a n de-commerce, b u s i n e s s cand o n t ibusiness n u i t y. Acontinuity. l l as s i s t a nAll ce is assistance is at no cost to the business. at no cost to the business. For more information, e-mail Carmen For more information, e-mail Sunda at cfsunda@loyno.edu, call Carmen Sunda cfsunda@loyno.edu, call (504) (504)at831-3730, or visit www.lsbdc.org 831-3730, or visit www.lsbdc.org

Utilize the Small Business Development Center Resources

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Do You Pay Louisiana Income Tax? Would You Like A Louisiana Income Tax Credit? Think about making a gift of technology to the Loyola College of Business like computer hardware and/or software: 1. The equipment must be new, 2. It should be delivered by the vendor directly to Loyola University New Orleans, and 3. The invoice should clearly show the purchase price.

The state of Louisiana offers you a credit against your Louisiana Income Tax equal to 40 percent of the value of the donation. A gift valued at $2,000 could reduce your Louisiana Income Tax by $800, and in addition, reduce your Federal Income Taxes by as much as $700 through a charitable deduction. The result is a gift worth $2,000 to Loyola with an effective cost to you of $500. For more information on the College of Business’ technology needs and how you can make a gift qualifying for these tax savings, contact: Robert Gross, Director of Planned Giving Loyola University New Orleans 7214 St. Charles Avenue, Box 909, New Orleans, LA 70118 (504) 861-5565, rgross@loyno.edu


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The Eyes of WestTexas Are Upon You If you have ever lived in Texas, then you know that Houstonians are different from their neighbors in Dallas and likewise from those in San Antonio. But, the most distinct breed of Texan hails from what’s known as West Texas. This area of the state features lots of open space, few people, and is dotted with towns like Muleshoe, Earth, Plainview, and Happy. Other than its panoramic big sky, the area’s claim to fame is its livestock, oil, cotton, and a culture unique. In this desolate land where the prairie borders the frontier, people survived only through faith in God and hard work. Its plaintalking inhabitants developed little tolerance for excuses and diversions from work, at least until the sun went down; then the story-telling would begin. Loyola College of Business faculty member, Dr. Jerry Goolsby, the Hilton Baldridge Distinguished Chair in Music Industry Studies, fits the mold of the person you might expect to meet if your car broke down in Lazzbuddie, Texas. The road that brought Goolsby to Loyola from West Texas is, indeed, an extraordinary one. From the seventh grade through his undergraduate degree, he performed as a professional musician, earning accolades as a highly respected keyboardist. He segued into a career managing a retail musical instrument store and got an M.B.A. in an effort to 22

run the business more effectively. He opted to begin a new career as a college professor, getting his Ph.D. from Texas Tech under the guidance of Dr. Shelby Hunt, one of the top scholars in the field. For the next 15 years, Goolsby published articles in marketing’s top academic journals and developed a reputation as a valued consultant, working on numerous public and private projects. He came to Loyola via the University of South Florida to meld the two halves of his career—music and business. Hired to jointly manage the Music Business Program at Loyola, Goolsby brought his devotion to musicians and his expertise in business, along with his West Texas personality, to bolster the program and the Louisiana music industry. The “Gools,” as he is known by many, has a reputation as a passionate teacher with little tolerance for excuses for a lack of performance. In exit interviews of graduating seniors, his classes are often mentioned both as the hardest and most enjoyable, but the highest compliments come from alumni five or so years after graduation. Once in the trenches, they learn the true value of his classes. His former students often quote the stories he tells in classes to illustrate an important point. Told in true West Texas fashion, full of detail and pointed accompaniments, the stories drive home points and make them easy to remember. An often repeated story relates to the time Goolsby was given 90 days to reverse the downturn in Loyola Executive


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Dr. Jerry Goolsby Hilton Baldridge Distinguished Chair in Music Industry Studies


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a division of a major corporation. The division had Goolsby’s reputation is one of “tough love” for the been hemorrhaging millions of dollars a month. The welfare of his students. division’s senior vice president was presenting a choice Goolsby says he has two primary customers he of two plans for moving forward—Plan A and Plan B. must satisfy: employers who hire his students and After listening patiently for more than an hour, the next teacher to teach them. He often says, “I Goolsby asked, “Is there anyone in this room who am not here to make you happy; I am here to make would support Plan B under any set of circumstances?” you successful.” Who can argue with that reasoning? No one answered. Goolsby asked the vice president In addition to being a great yarn-teller, Goolsby how much income he earned from the corporation, and has a way of making his classes very interesting he refused to answer. Goolsby said, “Let’s just suppose it is $300,000. It takes a straight-talking, clear-thinking, quick-witted Why should this company pay you $300,000 a year, when you can’t West Texan like Goolsby to reduce things to a make even a simple decision like fundamental denominator—common sense. this? We can go to a local junior college and get an intern to work here for nothing, and they won’t be able to make a because he blends theory, practice, and common decision either.” The vice president responded that he sense in his lectures. He finds using insightful quotes was insulted. Goolsby said, “No, insulting is getting out as ways of making his point but from a third person of bed at 5:00 in the morning in paradise and flying into perspective. A quote that captures Goolsby’s the frozen tundra to listen to you blather about a mantra, “no pain, no gain,” is from Brenda Clark, decision that is not even a decision. That’s insulting.” the former principal of Azalea Elementary School in Then, in typical “Gools” fashion, he screamed, beating Pinellas County, Fla.: “You shall know the truth and on the table, that from that moment on there would be the truth will set you free, but first it is going to leadership and no more buck-passing, and that anyone make you incredibly miserable.” calling another meeting to waste time like that would Another facet of “Gools” is his devotion and be fired on the spot. After 90 days, the culture had passion for the music and musicians of Louisiana. In changed and the division returned to profitability, in his “spare” time, Goolsby works tirelessly to see that part because of a return of leadership to the division. the great talents of New Orleans get a fair shake for Goolsby remains friends with the vice president, who their creative contributions. has been identified as the heir apparent to head the In the last 10 years, Goolsby has found a new hobby, corporation. building guitars in his workshop. Maybe someday guitar It takes a straight-talking, clear-thinking, quick- players across the U.S. will cherish their “Goolsby,” the witted West Texan like Goolsby to reduce things to way violinists cherish a Stradivarius. Given his track a fundamental denominator—common sense. record, he’ll probably succeed. Maybe that is why he has been a top-rated teacher Maybe Goolsby’s West Texas state of mind is best his entire academic career. Students gravitate to his summed up by his question of someone who has blend of passion for the subject, concern for their repeatedly tried to solve the same problem with the careers, and his discipline to high performance. same approach only to fail but is still reluctant to Simply put, do the job well or pay the price with a change his ways, to which Goolsby asks: “How’s lower grade. Most professors with very high the old way been workin’ for you?” A good standards earn a reputation for being tough, but question for all of us to remember! 24

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Goolsbyisms (Famous Quotations Dr. Jerry Goolsby Likes to Use) “The future belongs to those who are better at getting better.” —Ko Nishimura, CEO, Selectron, two-time Baldrige winner “When the rate of change outside exceeds the rate of change inside, the end is in sight.” —Jack Welch, Chairman, General Electric “The wages of sin are death, but by the time taxes are taken out, it’s just sort of a tired feeling.” —Paula Poundstone “Great minds discuss ideas. Average minds discuss events. Small minds discuss people.” —Admiral H. Rickover, the “Father of the Nuclear Navy” “I don’t want any yes men around me. I want everyone to tell me the truth even if it costs them their jobs.” —Samuel Goldwyn “Everybody repeat after me .... ‘We are all individuals.’” —Stephen Wright “An empty wagon makes a lot of racket.” —West Texas expression “If you’re riding ahead of the herd, take a look back every now and then to make sure it’s still there.” —West Texas expression “If you think you are doing well, you are comparing yourself to the wrong people.” —Mort Feinberg “If you pick up a starving dog and make him prosperous, he will not bite you; that is the principle difference between a dog and a man.” —Mark Twain “There are only two kinds of people: Those who finish what they start and so on ...” —Robert Byrne “Before you can walk in someone else’s shoes, you must first take off your own.” —Mark Twain “You can’t wake up someone pretending to be asleep.” —Linda Bankoski “Whether you believe you can or cannot do something, you are right.” —Henry Ford “We don’t like their sound, and guitar music is on the way out.” —Decca Recording Co., rejecting the Beatles in 1962 Fall 2009 www.loyno.edu

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From Lafayette to Loyola to Belize---Good guys don’t always finish last. Just ask College of Business graduate Greg Fontenot ’09. He’s indisputably nice, and he’s finished well ahead of the pack many times in his Loyola career. Fontenot, 23, graduated magna cum laude last spring, with a bachelor’s degree in business administration, after spending nine semesters on the

dean’s list. As a student, he was inducted into the business honor society Beta Gamma Sigma and the Jesuit society Alpha Sigma Nu. He won the Alumni Legacy Scholarship and was awarded the Richard Drew Wilkie Memorial Scholarship three times in his college career. He was president of the College of Business in his junior year and was honored at

Greg Fontenot ’09 receiving the Ignation Award from Loyola President Kevin Wm. Wildes, S.J.


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----A True Global Citizen graduation with the Ignatian Award, the highest award presented by the university to graduating students. He will enter medical school in the fall of 2010 after a year of volunteer service with the Jesuit Volunteer Corps. A real overachiever. Far from being the cutthroat, B-school shark represented in movies like Wall Street, Fontenot actually spent his college days helping others and wants to continue contributing to the common good. While completing his degree in finance and minoring in pre-med, Fontenot volunteered for various organizations. With the Ignacio Volunteers, he went on a series of international immersion service trips to Belize and Jamaica and worked with disadvantaged youth and elderly. “My experience with the Ignacio Volunteers opened my eyes to what it means to be a global citizen, and I would like to continue that in whatever form that might be,” Fontenot says. The Rev. Ted Dziak, S.J., Loyola’s vice president for Mission and Ministry, is impressed by Fontenot’s work, scholarship, and zeal for helping people. “Having taught him, supervised him, Fall 2009 www.business.loyno.edu

and worked alongside him in volunteer service, I think he is such a genuine person, always enthusiastic and passionate,” Dziak says. “From teaching young children basic skills on the Belizean basketball courts to shaving elderly men in the poorest areas of Kingston, Jamaica, I’ve never seen him without a smile and an open heart.” And that experience paid dividends in the classroom as well. “Gregory was enrolled in my international finance course during the fall 2008 semester, and his participation in the lectures was exemplary,” said finance professor Mehmet F. Dicle, Ph.D. “The financial crisis in the U.S. started to affect other countries’ economies, and he showed genuine interest and enthusiasm for application of our theoretical concepts to current international financial issues. This made all the difference for his term project.” Fontenot was a fellow at the Jesuit Center at Loyola, coordinating events and communications to promote a deeper understanding of Jesuit and Catholic ideals. He also was a team leader for the Christian Life Community, volunteered for Habitat for Humanity, and represented Loyola at a Jesuit school gathering at the School of the Americas in Fort Benning, Ga., promoting awareness of social justice. He credits his family for their guidance and commitment to volunteerism. His grandfather, a 1949 Loyola pharmacy graduate, volunteered with the Knights of Columbus for 63 years and baked bread every week to give to the hungry. Both parents volunteer with their church and lead Bible studies. “My parents are very good role models,” Fontenot says. “I feel I’ve been blessed to have an example of volunteering within my faith community.” Hailing from Lafayette, La., Fontenot learned to work hard at a very early age. He took on many of his family’s responsibilities after his mother was diagnosed with cancer and became very ill. 27


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“At seven, I was washing clothes two times a week, unloading the dishwasher, and helping with my sister and brother,” while his father worked overtime, Fontenot says. “When I look back on my life, that was the age that my work ethic and outlook on life was formed.”

For the next year as a Jesuit Volunteer, Fontenot will head to Boise, Idaho, where he will be a healthcare advocate for the homeless. In fall 2010, he will enter medical school at Louisiana State University Health Sciences Center in New Orleans. From there, Fontenot’s future is unscripted. But one thing is certain: This B-school overachiever will use his Loyola degree for its best and highest use, putting others first. “My experience with the Ignacio Volunteers “I’ve known Greg for a few years and seen opened my eyes to what it means to be a global the positive change in him as he moved citizen, and I would like to continue that in through Loyola,” Dziak says. “Greg whatever form that might be.” embodies the very best qualities of a — Greg Fontenot ’09 graduate of a Loyola education: he is an intelligent, profoundly faith-filled, and selfless young man.” At the College of Business, Fontenot harnessed The feeling is mutual. this ethic and learned how to channel his “I am so proud to have graduated from the Loyola enthusiasm into constructive ways to help others. “I University College of Business,” Fontenot says. “I’m learned so much,” he says. “I feel I have been going to see where my passions lie; see what makes enabled through my education to make the changes me come alive. The College of Business has I want to make. When I find a cause I want to fight empowered me to follow my passions.” for, I have the tools to take it from theory to action.”

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Fontenot coaching basketball in Belize

Loyola University New Orleans Magazine


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College of Business honors outstanding alumni, hosts banking panel Mary Jo Jacobi ’73

Kyle Berner ’03

The 24th Annual College of Business Alumni Luncheon, held March 27, was a rousing success. Mary Jo Jacobi ’73, Civil Service Commissioner appointed by Queen Elizabeth II, was awarded the 2009 Alumna of the Year Award, and Kyle Berner ’03, founder of Feelgoodz eco-friendly flip-flops, was the 2009 Young Alumnus of the Year. WDSU anchor Travers Mackel ’98 led a frank and provocative discussion with a spectacular panel of local, regional, and national banking practitioners, including: Barry Bleakley, chief financial officer, Omni Bank; J. Michael “Mickey” Brown, ’91, president and CEO, First Bank and Trust; Karl Hoefer, market president, IberiaBank; Joseph S. Exnicios, J.D. ’90, senior executive vice president and chief risk officer, Whitney Bank; Scott Howard, commercial banking executive, Regions Bank; and John Kallenborn, president, Chase Louisiana. Mark your calendars—next year’s luncheon will be held March 26, 2010!

Barry Bleakley, J. Michael “Mickey” Brown ’91, Karl Hoefer, Travers Mackel ’98, John Kallenborn, Joseph S. 00 J.D. ’90, and Scott Howard

Fall 2007 www.loyno.edu Exnicios,


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Class of 2009... The “Katrina Class” Every May is a time of celebration and reflection for the College of Business as our students graduate and leave our campus family to pursue their goals and dreams. This year’s class was especially near and dear to our hearts as they will forever be known as the Katrina Class. These graduates came to us in August of 2005 as wide-eyed freshmen, and before we even had a chance to introduce ourselves, we all had to pick up and leave for…well, you know the story. We all asked ourselves the same question, “Will the students return in the spring when we reopen?” They could have understandably gone elsewhere. But these students told their parents they wanted to return and help rebuild, and that’s what they did. And we thank them for that. We know that what they learned from their professors and their real-life experiences here at Loyola will stay with them for the rest of their lives. We wish them success and celebrate their fortitude and accomplishments.

Jay O’Conner ’09 and family

Evan Stoudt ’09 with Dean Bill Locander

John Schroepfer ’09 and his very proud parents 30

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Dr. Kendra Reed with Carlo Macias ’09 and his family Robert Swanton ’09, Teach for America, and Justin Marocco ’10

Photo Caption Dr. Kate Lawrence and Braxton Bernard ’09 Dean Bill Locander, Lee and Pat Lynch, Provost Ed Kvet

Major Gifts Officer Traci Wolff and 2009 Outstanding Graduate Meghan Geeck

Zachary Fietsch ’09

Fall 2009 www.loyno.edu

Dr. Susan Wilkie with Laura Reynolds ’10, recipient of the Drew Wilkie Memorial Scholarship 31


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Non-Profit Org. US Postage PAID Burlington, VT 05401 Permit no. 185

Campus Box 909 7214 St. Charles Avenue New Orleans, LA 70118-3565

Contact the EMPLOYOLA team at the Career Development Center at Loyola University New Orleans. We can assist you in designing a personalized hiring plan for your organization to hire interns and graduates. Let us help you arrange: • Presence at a career fair

• Onsite information sessions

• Job postings

• Career event sponsorships

• Onsite visits

• And so much more.

• Internship postings • Onsite interview days • Resume searches

www.loyno.edu/careerservices (504) 865-3860 career@loyno.edu


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