PROSPECTUS COLLEGE OF BUSINESS
IN THIS ISSUE ■
F R O M W O R L D C O M T O K AT R I N A
C O M M U N I C AT I O N S C E N T E R
Fast and Furious
STUDENTS STUDY CHINA’S ECONOMIC EXPLOSION
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Dean . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Labh Hira Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan Design . . . . . . . . . . . . . . Mauck • Groves Branding and Design Writers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Eric Dieterle Mary Jo Glanville Charles Handy Deborah Martinez Dan Ryan Dennis Smith Jessi Strawn Photographers . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kathy Morgan Beth Romer Printing . . . . . . . . . . . . . . . . . . . . . . . . Phillips Brothers Printing Contact College of Business Robert H. Cox Dean’s Suite 2200 Gerdin Business Building Ames, Iowa 50011-1350 515 294-2474 firstname.lastname@example.org www.business.iastate.edu Prospectus is prepared twice per year by the College of Business at Iowa State University. It is sent without charge to alumni, friends, parents, faculty, and staff of the College of Business. Third-class bulk rate postage paid to Ames, Iowa, and at additional mailing offices. The views and opinions expressed in this publication do not necessarily represent official statements or policy of Iowa State University but are the personal views and opinions of the authors. Prospectus welcomes correspondence from alumni and friends. Send your comments to Dan Ryan, editor, at the above e-mail or postal address. Prospectus reserves the right to edit all correspondence published for clarity and length. Iowa State University does not discriminate on the basis of race, color, age, religion, national origin, sexual orientation, gender identity, sex, marital status, disability, or status as a U.S. veteran. Inquiries can be directed to the Director of Equal Opportunity and Diversity, 3210 Beardshear Hall, 515 294-7612.
The College of Business at Iowa State University is accredited by AACSB International — The Association to Advance Collegiate Schools of Business. The AACSB is the premier accrediting and service agency and service organization for business schools.
Standing Strong How an alum weathered two major storms.
A Rising Economy MBA students tour China.
New program engages young business students.
Enriching Skills Center teaches
ON THE COVER
Departments 2 21 22
Dean Labh Hira Alumni News Faculty and Staff News
CHINAâ€™S ECONOMY IS GROWING IN LEAPS AND BOUNDS, AND ISU MBA STUDENTS GOT TO SEE IT
Development Dr. Charles Handy
M ESSA GE FR O M THE DEA N
Achievements and Opportunities In the never-ending hustle of our everyday lives, where we sprint from one engagement to the next and can sometimes
I know exactly how fortunate I am, yet I am reminded of it anew, time and time again.
barely spare a moment to eat, pausing for a moment to reflect on our progress is a luxury most of us can’t afford. This column, however, forces me on occasion to do exactly that. And I am glad for that. As I often say, I am thankful to have a front row seat to watch the incredible growth and change that takes place here. I work with energetic, dedicated faculty and staff members who give everything they have to make our college better. I visit with passionate alumni who remember their experience here fondly and want to help improve the experience for tomorrow’s business students. And every day, I see those students develop into smart, young businesspeople that give me confidence about the future of our economy. So I know exactly how fortunate I am, yet I am reminded of it anew, time and time again. It occurred to me when I watched our alumnus Scott Hamilton’s gripping presentation about his career with WorldCom and the State of Mississippi during Hurricane Katrina. He left Iowa State and
established a very successful professional career. And in the face of two unimaginable disasters— caused by the poor ethical choices of others and Mother Nature herself—he worked tirelessly for those in harm’s way. It struck me again the very next day, as I watched David and Ellen Raisbeck, both Iowa State alumni, talk about how Iowa State shaped their lives, and how they hoped to instill a global mindset into future Iowa State business students through their $3 million gift. It takes a profound sense of loyalty to give back in such a way, and makes me proud of their belief in what our faculty and staff have accomplished here. And I could not help but think of it again as two of our finest faculty took a group of MBA students on a two-week tour of the booming economy of China. They visited with major companies, sampled the culture, kept journals, took thousands of photos, and for most of them, reached out for the first time and touched the new global reality that most of us only read about. Indeed, as we approach our twenty-fifth year as a college in 2009, we are now doing things we might have dared only dream about in our earlier days. And there is more to come. Next year, our PhD program will officially launch. Campaign Iowa State has been an incredible success to this point, but we must finish strong in order to better our programs and provide our faculty and staff with more resources. Though we have many accomplishments to celebrate, we have much work in front of us. I am fortunate to be a part of it, and look forward to the challenge. ■
Labh S. Hira, Dean 2
VOLUME 24 NUMBER 2
but still standing alum communicates the human side of two disasters
For most of us, there is quite a gap between real life and the movies. But in both cases, we are always intrigued by one question: How does a person react when faced with a challenge? Not the little stuff. Instead, big, sweeping events that knock people off any but the firmest of foundations. Scott Hamilton (’82 Management) is at a place now from which he can reflect on that question, and he has his own career as a point of reference. Not once, but twice he has been caught up in farreaching dramas that he could never have expected. Outright disasters that challenged his values, tested his resolve, and presented him with ample opportunities to survive or to fail. The man-made financial disaster of WorldCom and the natural disaster of
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“It’s hard to go through both of those situations and not be changed, and not see the world a little bit differently.” — Scott Hamilton
Hurricane Katrina was the costliest Atlantic hurricane in history.
Hurricane Katrina affected thousands of lives, and Hamilton, as a professional communicator, found himself smack in the middle of both. Yet through it all and to this day, he has kept his message focused on humanity. Admirable for someone who rose up as a company man in a corporate world. It’s a world that Hamilton now deals with from the outside in: The public affairs company in which he is the owner has the “standard fare” of corporate clients. But as with any dynamic character in a compelling story, there have been changes in Hamilton’s outlook. “I’m just a lot more interested in projects that tend to have a The man-made financial disaster more immediate of WorldCom and the natural impact on people’s disaster of Hurricane Katrina lives,” he said. affected thousands of lives, and His attitude makes sense, considering Hamilton found himself smack in his experience. the middle of both. “It’s hard to go through both of those situations and not be changed, and not see the world a little bit differently,” Hamilton says. “You realize there’s more to life than having the highest P/E-ratio.” Hamilton brought that message to students, faculty, and staff at Iowa State during his presentation “From Bad to Worse: WorldCom to Hurricane Katrina,”
made at the College of Business in April. The event was sponsored by the Caterpillar Foundation, the Bacon Center for Ethics, Ralph and Jean Eucher, and the Committee on Lectures (funded by the Government of the Student Body).
The accidental communicator As a management student at Iowa State’s College of Business, Hamilton “envisioned becoming sort of a business person. If you had said when I was at Iowa State that I was going to be writing for a career, I would have been surprised.” After graduating from Iowa State in 1982, Hamilton started his career in sales and marketing positions. Even after business writing “started to click” during his pursuit of an MBA at The George Washington University School of Business, he continued on the sales and marketing track after he finished his degree. Eventually, Hamilton “sort of fell into a writing and research role at MCI, in Washington, DC (which was acquired by WorldCom), almost by accident,” as he describes it. But what he regarded as a temporary position, quickly became a career. Clearly, he had found his niche. In February 2000, he was promoted to vice president of investor relations for WorldCom. It was an important position in a company that appeared to be a stunning success story. Hamilton, a self-proclaimed “adrenaline junkie,” thrived on the pace and welcomed the challenges. But even as he performed his job with energy and integrity, the company was about to collapse into a scandal for the ages. As the story unfolded, Hamilton found that he had been misled by those whom he worked with and trusted. Some of the information he had passed along as a professional communicator turned out
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He didn’t expect that he would ever find himself in the midst of storm-related crisis communications. And yet that’s exactly what happened.
In 2005, Scott Hamilton found himself in the middle of one of the greatest natural disasters in the country’s history.
to be misinformation spun off from untenable accounting. The wordsmith found himself caught in a numbers game that swirled out of control. WorldCom’s bankruptcy, filed in July 2002, was the largest in United States history—far beyond even that of Enron, which had filed late in 2001. And as with Enron, the lives of everyday people were shattered as the paper value of investments and retirement portfolios vaporized.
From stock prices to storm surge Hamilton’s career survived the tumult. Although he was not complicit in any way for WorldCom’s wrongdoings, most doors in investor relations were closed to him. He moved on to an entirely new kind of role as director of communications for the Mississippi Development Authority, the state’s Hamilton found lead economic develthat he had been oper. As such, he misled by those didn’t expect that he whom he worked would ever find himself in the midst of with and trusted. storm-related crisis communications. And yet that’s exactly what happened. When Hurricane Katrina struck in late August 2005, Hamilton and other state communicators were swept into action as public information officers. This time, the human tragedy was starkly apparent. Lives were ruined and lives were lost amidst wide-scale destruction. Hamilton saw suffering all around him while working in difficult conditions on Mississippi’s Gulf Coast—conditions that brought out the best in
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most people and the worst in a few. His ability to focus on the work, and the message, sprang from the very values that had sustained him through the WorldCom experience.
A time to reflect Hamilton views his experiences as opportunities for growth, for him personally and professionally, and for those in the business world today. He offers his reflections in that spirit. Rather than seeking blame, he points to lessons learned. Or, at least, lessons that should have been learned. In today’s business climate, for example, “I feel like many investment advisers tend to be afraid to go away from the crowd because their bonuses are based on how well they do relative to everyone else,” Hamilton says. “Our market has suffered because there has been no natural correction or cynicism. This leads to fad chasing. First the dotcoms, then real estate and now commodities. What people are missing in the investment world today is that they just need to get back to basics.”
Over $80 billion in property and infrastructure was destroyed by Hurricane Katrina.
Katrina left over 1,800 people dead plus hundreds more missing, including over 300 dead or missing in Mississippi.
Those basics, according to Hamilton, include accurate financial statements, but also permeate communications and professional conduct. “Follow through on what you say you’re going to do,” he says, “and be honest. When you talk about basic principles, I think about the principles of dealing with other human beings. Basic business etiquette is still important.” Common sense advice, it would seem, although one of the tests “When you talk about basic of a crisis is to commuprinciples, I think about the nicate well, and in some principles of dealing with cases to communicate at other human beings. Basic all. Losing sight of the bigger human picture business etiquette is still happens all too often. important.” “It’s amazing how — Scott Hamilton difficult the little things become when you’re faced with a crisis,” Hamilton says. “Usually the reason for a crisis is not that just one thing broke but two or three things, which means part of the way you usually do things isn’t going to be the same.” What doesn’t change in a crisis? “The bottom line is that people are people,” Hamilton says. “Don’t forget that you’re talking to people and that your company is made up of people. These are human problems and emotions, so keep humanity in the messages.”
That’s precisely the tone that Hamilton brought to Iowa State in April, according to University Professor Brad Shrader, the Ralph and Jean Eucher Fellow in Business Ethics at Iowa State. “At WorldCom, for example, Scott was caught up in an organizational wave,” Shrader said. “Sometimes one person can be carried along by a situation. What really touched people was his reflection on our vulnerability in that kind of situation. He’s asked himself, ‘What did I do? What did it mean? What were the red flags?’ It was very human, very touching.” Hamilton was also able to tell his story without recrimination. As an expert communicator, he relayed the facts and acknowledged the emotions. His isn’t a bitter tale, but it is a meaningful one. “He talked about what we can learn rather than focusing on assigning blame,” Shrader says. “Blame may be important for justice, but it does not solve a lot of problems. I thought he stayed positive in the midst of two amazing disasters. His simple message was that we should try to do the right thing. Be accountable, don’t misrepresent, and when things go wrong, try to make them right. There are a number of these positive stories and Scott Brad Shrader hit the chord just right.”
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“Blame may be important for justice, but it does not solve a lot of problems. I thought he stayed positive in the midst of two amazing disasters.” — Brad Shrader
Still, the negative stories tend to generate the most attention, and plenty of them continue to arise, such as the recent “credit crisis.” Many, it seems, call into question the value of ethics in business, if not society. “Right now business ethics is a little more on our radar screen,” Shrader says. “In the past, a lot of business schools have not required ethics courses or leadership and values courses. Sometimes students would leave school without a perspective of how business truly adds value to people’s lives.” Iowa State has responded with a series of required courses in ethics and leadership as part of undergraduate and MBA programs. The new Gerdin Citizenship Program, profiled on page 14, has an ethics component as well. Courses are also being developed to teach leadership in corporate governance. Hamilton, for his part, continues to see the positive when it “If you don’t laugh, comes to the basic you’ll cry, and if principles that have you do laugh, buttressed his career. “The young people you’ll cry anyway, I’ve worked with so you might as the past few years, I well go ahead think they absolutely have a good grasp and laugh.” of fundamentals,” — Scott Hamilton he says. “And when I was at Iowa State in April, I saw young men and women with firm handshakes who looked me straight in the eye. I was suitably impressed.” Does Hamilton have any advice for the up-andcoming business students of today? Yes, of course, and none of it is surprising, considering his own career. Some of his thoughts:
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• “Everything in business is about people. Never forget that. Treating people well is infectious.” • “Never stop learning.” • “Irrespective of your college degree, do the things you like or love. In the end, that’s going to be a lot more important than just following your degree.” Finally, as one who has endured two major disasters, Hamilton offers one of the most basic suggestions of all: Don’t forget to laugh. “Keep your sense of humor about you,” he says. “There are going to be a lot of trials and tribulations in your life, and if you take them all too seriously, it’s going to be overwhelming. If you don’t laugh, you’ll cry, and if you do laugh, you’ll cry anyway, so you might as well go ahead and laugh.” ■
Hamilton recounted his experiences with WorldCom and Hurricane Katrina in an emotional lecture at Iowa State in April.
Economic Evolution an
MBA students study China’s incredible growth up close
hrystal Martin has big plans: finish her MBA, get established in LA, set up her own production company specializing in the integration of commercial brand-name products into humanitarianfocused “reality” television programming—and then jump the ocean 7,200 miles to Hong Kong to break into China’s burgeoning media marketplace.
According to United Nations reports, China averaged an annual GDP growth of nearly 10 percent from 1980 to 2005.
Don’t for a minute doubt her determination: she began intensive Mandarin classes this fall. Associate Professor of Marketing John Wong can only smile and shake his head in wonder at the prospect, not so much at Martin’s ambition—her savvy and self-confidence are forces of nature that would seem to assure
success wherever she chose to direct them—but rather at the breathtaking transformation of the nation the young woman seeks to take by storm. In fact, Martin’s designs on the Chinese market are in their way no less breathtaking than China’s economic development itself, the inspiration for a tour by 17 Iowa State MBA students last spring of the Chinese mainland under the direction of Wong and Associate Dean Kay Palan. During Martin’s relatively short lifetime, market reforms instituted under the late Deng Xiaoping have moved China from the backwaters of a Soviet-style centrally planned economy to a capitalist colossus that bids to dominate 21st-century markets on a global scale. And, according to United Nations reports, with an annual average growth in GDP of nearly 10 percent from 1980 to 2005, the pace of China’s growth is only accelerating. Over the course of two short weeks, the Iowa State delegation
visited Beijing, Shanghai, and Hong Kong, as well as key industrial centers in the outlying areas of these major cities. There they met with their Chrystal Martin Chinese academic counterparts, business leaders, trade officials and, whether or not they choose, like Martin, to compete in Chinese markets directly, with the faces and forces of international business in the 21st century.
Visionary education “International business and marketing can be brought to life through an experience like this,” Wong says. “The idea is to expose students to how things are actually being done.” Wong’s exposure to “how things are done” in China goes back at least to the beginning of his academic career at Iowa State
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International business and marketing can be brought to life through an experience like this. The idea is to expose students to how things are actually being done. — John Wong
in 1980, the year Martin was born. Struggling to recover from the disastrous policies of the decade-long Cultural Revolution of the 1960s and 70s when the nation’s economy and educational system were systematically vandalized for political and ideological purposes, the nation’s institutions gradually opened themselves up to western markets and their underlying principles. Although of Chinese extraction, Wong was born in Malaysia, where his family had emigrated several generations previously, and where he was educated in English, learning Chinese as an adult. Ask him how his Mandarin skills are today and he’ll only smile and say, “passable.” (And, he might add, Martin has her work cut out for her.) His multinational roots not only drew Wong back to his ancestral homeland; together with his focus on international business they drew him as well toward the mutual education of Chinese and American scholars in each other’s markets and cultures. By the mid1980s, he was already working with two Chinese universities seeking to develop their programs in business. And in 1987, he brought to Iowa State Yunfeng Wang, a junior faculty member from the Hebei University of
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Technology in Tianjin, a city of 10 million about 100 miles southwest of Beijing. In the 1980s, Wong notes, Chinese universities didn’t offer business programs as such, but instead degrees in “industrial management” that combined industrial engineering with basic management principles. So for two years, Yunfeng Wang studied both western markets and American business education under Wong’s mentorship. “She was really picking up models for developing an American-style business program,” Wong says, adding that his protégé had been encouraged to come to Iowa State by Hebei’s leadership to help prepare the school for the explosive growth of the Chinese economy beginning in the 1990s. “It was visionary,” he adds, “for the president of a university to say that we’re in a transition and are looking toward the future.” The investment paid off: Wang would rise to become dean of the management program at Hebei, and over the past eight years in that position has created both a PhD program and an MBA program that, Wong says, is more than twice the size of Iowa State’s.
‘Only global business’ That the explosive growth in China’s business and industrial base should be matched by its system of higher education should hardly come as a surprise, as the nation seeks to prepare a generation of managers to take China from its current status as a global manufacturing outsource center to a leader in international business. It’s a tidal wave, Wong drove home to his students, that they and their colleagues had best prepare for. “I told them that there’s no such thing as domestic business,” Wong recalls. “In fact, there’s really no such thing as international business. Today, there is only global business. The whole landscape has changed because of the rise of the MBA in China—and they’re taking the fight to us.” But while the competition may be intense, Wong is convinced it will be friendly. After their initial stop in Beijing, the Americans jourKay Palan, associate dean for undergraduate neyed to Tianjin, programs, shops for gifts along the waterfront where they were of the Huangpu River in Shanghai.
China Itinerary for an inspirational tour of China’s Mainland
1. Beijing Beijing is China’s political, educational, and cultural center, with a rich history.
DAY-TO-DAY ITINERARY DAYS 1-4 SAT 4.19.2008 Depart Des Moines, Iowa, for Beijing, China SUN 4.20.2008 Arrive in Beijing
DAYS 5-6 MON 4.21.2008 Tientan (Temple of Heaven); Pearl Factory; Tiananmen Square; Forbidden City; Peking Opera
TUES 4.22.2008 Great Wall at Badaling; Ming Tombs; Jade Factory; bus to Tianjin; supper at famous dumpling restaurant
WED 4.23.2008 Tour Economic Development Zone; Port Authority; Caterpillar’s AsiaTrak facility; dinner and welcome banquet with Hebei University MBA students
DAYS 7-10 THU 4.24.2008 Pair off with Hebei University of Technology MBA students all day; visit Asia Culture Street; Wal-Mart; dinner with students, faculty and administrators
FRI 4.25.2008 Flight to Shanghai; Yu Yuan Garden; old city center and shopping district; silk factory
SUN 4.27.2008 Halfway point meeting and recap session; free time to explore
SAT 4.26.2008 The Bund (old British port district) and Huangpu River walk; Nanjing Xi Road— famous shopping street
MON 4.28.2008 American Chamber of Commerce in Shanghai (AmCham); Maglev Train (world’s fastest train); flight to Shenzhen
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There’s really no such thing as international business. Today, there is only global business.”
— John Wong
2. Tianjin Tianjin is China’s third largest city and a major industrial center in the lower northeast.
3. Shanghai Shanghai is the heart of China’s commercial and financial sectors. It sits at the mouth of the Yangtze River and anchors a vast interior region of medium and light industries.
4. Shenzhen & Hong Kong The Pearl River Delta, at the southern tip of China, is the light industry capital of China. The majority of manufactured consumer goods exported to Europe and the United States comes from this region. Shenzhen and Hong Kong are twin cities.
DAYS 11-14 WED 4.30.2008 Departure for Hong Kong; pass through customs; Hong Kong Island tour (Stanley Market, high point lookout, Aberdeen Port boat ride); free time in evening
TUE 4.29.2008 Company visit to Midea, China’s largest retail chain of consumer electronic goods, in Shenzhen
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THU 5.01.2008 U.S. Consulate (U.S. Commercial Bureau); free time
PR OSPECT US
FRI 5.02.2008 Landor Associates (worldwide-leading brand and creative consultants); free time in afternoon; dinner at Sheraton Hotel with ISU Alumni in Hong Kong and surrounding area
welcomed to Hebei by Dean Wang and a contingent of her own MBA students who were fluent in English. The students paired off for a day of shopping, coupled with discussion of Chinese retail markets and the habits and preferences of the world’s largest consumer base. Certainly, Wong’s students were amazed at the sheer scale of development in China’s cities and factories: the hundreds of construction cranes dotting Beijing’s cityscape; the soaring towers of Shanghai’s Pudong district, farmland until 1990 and now the nation’s financial center; production floors the length of several football fields in the factories ringing Hong Kong. But an even deeper impression was made upon the Americans by the wellspring of that astounding infrastructure: namely, the confidence and determination of their Chinese counterparts. That determination is driven by a revolution in the thinking of young Chinese. Fresh from the comparative poverty of the Chinese countryside, their parents may have been grateful for the opportunities afforded by western manufacturers seeking cheap labor overseas. However, says first-year MBA student Jared Ramthun, the massive investment of western firms in China’s development has
The MBA China tour group poses with executives of Midea, China’s largest consumer electronics retail chain.
only whetted the appetite of their children for greater control over their economic destinies. “The Chinese MBA students told us that they’re not necessarily looking to work for Western firms after graduation,” Ramthun notes. “Western firms seem to put a cap on how far they’ll let a Chinese national rise in the firm. But if they work for a Chinese firm, there’s no ceiling to advancement.” Dubbed “Yuan Yuan”— “Enduring Strength”—by her Chinese hosts, Chrystal Martin seconds Ramthun’s observation. Neither, she adds, are the new cadres of Chinese MBAs particularly interested in making their careers in the West. “The Chinese students I spoke with are very enthusiastic about staying in China to help build their economy,” Martin says,
It was eye-opening—personally, academically, and professionally. And it’s something that’s going to inform the way we do business for a long time to come. — Chrystal Martin
noting that a contingent of managers from the giant Midea appliance corporation is currently in residence at Iowa State. “They didn’t express a strong interest in coming over here and staying. They want to learn what they can, and take that information back and build up their society.”
Two questions Yet for Wong and his students, two questions followed them throughout their travels: First, has China gone too far too fast in the short amount of time, historically speaking, since the Cultural Revolution? And, secondly, can that nation sustain the breakneck development that has taken China from an economic backwater to the brink of world economic leadership in the lifetimes of the students who shared their lives and career ambitions on the streets of Tianjin last spring? China, Wong reminds, is an ancient civilization, with a history extending thousands of years into the past. And while the nation has seen much political upheaval over
its history—not least the revolution that brought Mao Zedong’s communist government into power in 1949—China’s bedrock culture is conservative and authoritarian, values that for millennia have informed the relationships of the Chinese with each other, as well as their view of foreign influences. The infusion of capital and Western business culture, however, promises to turn that traditional culture on its head in ways the communists never dreamed, a short sprint to prosperity that leaves the accomplishments of Mao’s “Long March” in the dust—if not in the “dustbin of history” altogether. “When the British began the Industrial Revolution,” Wong reflects, “it took about 100 years to become industrialized. The Americans did it in 50 years after the Civil War. But the Chinese are doing it in 25 years—one generation. This is absolutely mind-boggling. “And,” Wong adds, “I think the Chinese are even more surprised than we are.”
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Virtually every student on the tour felt as if this were a life-changing experience as well. They’ve read about it, heard about it— and now they’ve seen it for what it is.
— John Wong
That shock was driven home when, during a 1987 visit, Wong noticed that the top-rated program on Chinese television was the All-China Breakdancing Championships. The bemused American asked his hosts to explain the popularity of a radically western urban art form in a nation only ten years out from the suffocating aesthetic values of the Cultural Revolution. “They shook their heads,” Wong recalls, “and they said, ‘we’re moving too fast.’” Those concerns were prophetic when, just two years later, breakdancing evolved into a breakaway pro-democracy movement, and the government cracked down violently on student protesters in Beijing’s Tiananmen Square. Yet for all its tragedy, Wong believes, that watershed event may have been decisive in setting China on its present course. After all, he argues, the protesters were not promoting democracy so much as the capitalism and free markets that are democracy’s necessary preconditions. And while the banners and broadsides directly challenging communism were crushed beneath the tanks of the People’s Liberation Army, the government had already unleashed the capitalist juggernaut that would transform the nation, seemingly overnight.
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“In 1991 when I came back, two years after Tiananmen Square,” Wong remembers, “I said ‘the genie’s out of the bottle and I don’t think you can put it back. People are tasting freedom.’”
‘A life-changing experience’ Though receptive to occasional business travel overseas, Jared Ramthun will not make his career abroad, let alone in China. However, his experience those two weeks in spring will stay with him throughout his working life. “If you’re going to be in business in the future,” he acknowledges, “you pretty well have to know about China and the opportunities there.” For Chrystal Martin, however, the consequences of political liberalization driven by the continuing development of the world’s largest marketplace will be more immediate, should she pursue her goal of building a transnational enterprise. The floodgates are wide open for the influx of western consumer culture into China, and for a young, cosmopolitan westerner such as Martin, the nascent media markets of 1.4 billion people represent unprecedented opportunity. “You know the culture is shifting rapidly,” Martin says.
“Everybody and everything is moving very quickly. But it’s exciting, that pioneer spirit, that sense of exploration. “And,” she adds, “I think that might have been part of their fascination with us—just knowing Jared Ramthun enjoys a boat ride in Hong Kong. where we come from, that we already have this freedom they’re moving towards.” Today, nearly twenty years out from Tiananmen, John Wong agrees: the fascination cuts both ways. “Certainly, the Chinese are absolutely stunned at what has transpired,” he says. “But virtually every student on the tour felt as if this were a life-changing experience as well. They’ve read about it, heard about it—and now they’ve seen it for what it is.” “It was eye-opening,” Martin agrees, “personally, academically, and professionally. And it’s something that’s going to inform the way we do business for a long time to come.” ■
New program engages pre-business students with college, community
Gerdin Citizenship Program participants created poster presentations on global business topics and presented them in the Droste Den of the Gerdin Business Building.
When Brian Gualillo arrived at GCP the previous spring. “Most Iowa State in fall 2007, he was of our students don’t enter the excited about starting college. professional program until the But like most freshmen, he was end of their sophomore or also a bit apprehensive. beginning of their junior year,” “I was thinking,” Gualillo she explains. “They take very few recalls, “I am in this new place, business courses and hardly and I don’t have any of my old step inside the Gerdin Business friends here. What am I Building their first going to do to meet two years.” people? How am I Palan saw going to spend this as a missed my time outside opportunity for of class?” engaging stuGualillo, who dents in College is from Marengo, of Business Illinois, needn’t activities and have worried. events. She wanted Hundreds of clubs to develop a proBrian Gualillo and activities vie for gram that would be a students’ interest those mechanism for incoming first days on campus, and last fall students to meet and interact Gualillo and the 700 other prewith each other, and with facbusiness students beginning their ulty, employers, and upperclassuniversity careers had a brand new men. In addition, she wanted to option to consider: the Gerdin provide a framework for activiCitizenship Program (GCP). ties that would foster personal and professional growth. With this basic concept in mind, Palan An opportunity turned to leaders of the college for engagement student clubs to brainstorm Kay Palan, associate dean for ideas on what skills and compeundergraduate programs and associate professor of marketing, tencies should be incorporated came up with the idea for the into this new program.
VOLUME 24 NUMBER 2
“ They take very few business courses and hardly step inside the Gerdin Business Building their first two years.” >> Kay Palan, Associate Dean
“The brainstorming task led us to seven components to include in the program,” Palan says. “They are professionalism, leadership, civic responsibility, global awareness, diversity, ethics, and public discourse. The ideas emanated from the students, but they very much echoed what I thought should be included.” Further discussions focused on what the requirements for each component should be. “We wanted it to be experiential as much as possible,” Palan points out. “We felt that doing something such as volunteering on a community service project has more impact than attending lectures, so we incorporated hands-on participatory sorts of activities.” The global awareness module, for example, requires participants to research a topic related to global business and then prepare a poster presentation about the topic. Faculty and employer representatives judge the posters and discuss them with the students. For the leadership component, the students must join and become active members in a College of Business student organization. They must also observe leaders of student-run organizations and record reflections about the leadership style in the GCP booklet. Other activities include giving
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
four impromptu speeches, which are also judged by employers and faculty, and participating in professional development activities, such as a seminar in writing resumes.”
‘The kinds of skills we look for’ Prior to launching the program in the fall, Palan shared the concept with employers who were meeting with college faculty on campus. “I have never seen the employers get so visibly excited about something,” she says. “They told me, ‘These are exactly the kinds of skills we look for when hiring.’” The employers’ enthusiasm gave Palan some convincing points for marketing the program. “I could tell the students, ‘Employers know about this program, and
they want the kind of students who have completed it. By getting involved, you demonstrate that you have a commitment to developing these skills.’” More than 125 students “I decided to give it a participated in the try, and I really liked GCP in its inauit. It’s helped me get gural year. Palan to know the business was especially faculty and the dean pleased by the on a personal level.” word-of-mouth >> Katie Vande Berg advertising that brought students to her door throughout the year to sign up. Seventeen students completed the program in the first year and received certificates recognizing them as Gerdin Citizens at a banquet held in April.
Zeb Bidwell, an operations and supply chain management major, gives an impromptu speech as part of his participation in the program.
The first group of graduates of the Gerdin Citizenship Program.
While the program is designed to take two semesters to complete, Palan emphasizes that there is not a “drop-dead” date for finishing. “I would rather have students do part of it than none of it,” she says. “If it takes two years to complete, that is fine with me.” Katie Vande Berg, a sophomore from Harlan, Iowa, is one of those students who almost didn’t signup because of the time commitment. “As a freshman, I wanted to get my feet wet slowly,” she explains. “But then I decided to give it a try, and I really liked it. I learned a lot about the college, and it’s helped me get to know the business faculty and the dean
“It’s not necessarily the big things, but rather the little things that you apply to the rest of your life that are the main benefits of the GCP.” >> Patrick Kincade
on a personal level, rather than just as professor and student.” Meanwhile, Gualillo, who was worried about how he might meet new people, completed the program while also working for Iowa State’s Information Technology Services, doing a marketing internship with Apple, Inc., and serving as one of the six Cy mascots who perform at athletic and other special events. For him, the program’s greatest benefit is the relationship building that occurs. “Furthering my knowledge in areas like ethics and diversity are right up there, but I think the relationships you make with other students, employers, and faculty are the most important,” Gualillo says. “The other things you can learn along the way and the GCP give you a good basis and help you expand on what you learned growing up, but it is the relationships you have that are going to shape who you become in the future.”
Patrick Kincade, a freshman from Apple Valley, Minnesota, expresses surprise at the program’s effect upon everything he does. The diversity component, for example, has made him think about how to approach and adapt to individual situations— for example, when, as a host at a restaurant this past summer, Kincade had to interact with a wide range of customers. “I had a group of five blind people come in,” Kincade recalls. “Instead of just taking them to their table and saying, ‘Your server will be here in a minute,’ I took it upon myself to help them—and that meant reading the menu to them. “It’s not necessarily the big things,” he reflects, “but rather the little things that you apply to the rest of your life that are the main benefits of the GCP.” Even Palan has been surprised by the GCP’s impact on students. “One young woman told me she wasn’t sure she wanted to be in the business college, but this program helped her see that this is the right place for her,” Palan says. “Another student told me that his participation gave him the confidence to get involved in
VOLUME 24 NUMBER 2
“ I could tell the students, ‘Employers know about this program, and they want the kind of students who have completed it.’” >> Kay Palan, Associate Dean
other campus activities. It is clear the program has already made some dramatic differences in the students’ lives.” Two students—Kelsie Harvey, a sophomore from Akron, Iowa, and Jeremy Weiss, a junior from Barnum, Iowa—decided they wanted to do more than volunteer when it came to community service. They planned, marketed, and carried out a successful College of Business blood drive, which they expect to become an annual GCP event. “We exceeded our drive goal, getting around 65 donors,” says Weiss. “But through my eyes, the success goes beyond that. We helped students gain a greater sense of community service while helping to save lives.”
‘An amazing experience’ Employers play an important role in the GCP. For example, Josh Ingalls, a campus relations consultant for Principal, spoke to the group on several occasions and also served as a judge for the speeches and posters. He is an enthusiastic supporter of the program. “I think this program influences students to think of personal success in terms of
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
having more opportunities to help society and their community to be successful,” Ingalls explains. “The Principal has a very civic-minded culture and puts a high priority on a positive work environment. So students who come out of school with a core value of integrity and a worldview fit in well with our culture. GCP helps them achieve that view.” Ingalls, Scott Goodew, a regional underwriting manager with Federated Insurance, and Andrea Dana, college relations coordinator for Pella Corporation, note that, beyond the Business Career Fair and speaking to classes, the program provides opportunities for employers and students to get to know each other. “When I give presentations, I tell people I’m not in the insurance business, I am in the people business,” Goodew said. “I am out working with people, trying to find those who fit with our culture. As I interact more with students and also with faculty, they get to know our company and what we look for in employees.” The employers also agree that the program is a great way for students to distinguish themselves from the crowd. “These are the kind of students we want
to hire because they are taking the initiative to do something extra,” Dana points out. For 2008-2009, Palan will have substantial assistance running the program and moving it forward. Four students “ This program influences who completed students to think of the program personal success in last year— terms of having more Gualillo, opportunities to help Harvey, Vande society and their Berg, and community to be Weiss—will successful.” serve as GCP >> Josh Ingalls Student Fellowship Leaders. “GCP has turned out to be a win-win situation for everybody,” Palan says. “The employers are getting what they are looking for in employees, the students develop their skills and a support network, and I have gotten the engagement I wanted. “It’s been an amazing experience,” she adds, “that will just keep getting better.” ■
CONCEPT COMPREHENSIVE SERVICE to
College of Business creates communication center
n a college focused on building technical business knowledge, teaching communication skills has become a priority—and for good reason. Even the most technical careers in business require an employee to share information with others. Whether informally with co-workers or presenting vital information to a board of directors, students graduating from Iowa State’s College of Business need effective approaches for delivering information to different audiences. Teaching these communication approaches posed an obstacle for the college, as most business faculty are not trained in communication, yet still need to teach the technical details of their discipline. The college needed a unique solution—and they found one in the Communication Center. An integrative vision In 2006, the college established the Communication Center to help students strengthen skills in business communication and critical thinking. Additionally, the center assists faculty with bringing a communication focus to the classroom. The center did not happen overnight, but grew from Sue Ravenscroft’s vision of integrating communication principles into the classroom. The Roger P. Murphy Professor of Accounting, Ravenscroft felt strongly about the vital role communication has in business. “There is no way to get around communicating with others in a business career,” she says. “No matter the job, communication is involved.” Ravenscroft’s idea was timely, as the university had also begun to realize the value of emphasizing discipline-specific communication lessons in the classroom. “Iowa State was solidifying ISUComm, the university’s communication-across-the-curriculum
initiative, when we started the center,” Ravenscroft recalls. “We were able to use the ISUComm directive of developing student competence in written, oral, visual, and electronic communication to support our efforts.”
“ There is no way to get around communicating with others in a business career.” * Sue Ravenscroft
Even as the college worked to meet ISUComm expectations, there was still a need to do more. Feedback from recruiters and others in industry indicated a need to concentrate on improving students’ writing and communication skills in specific business disciplines to better prepare them for their future careers. Others linked to the college also noticed the need to focus on communication principles. Jeremy Galvin, director of development, periodically asks alumni to reflect on skills that would have helped them feel more prepared and confident as they began their careers. Not surprisingly, many respond with communication. “Through the Communication Center,” Galvin says, “we have a real opportunity to provide skills to students that will help them achieve their goals throughout their entire career.” A team develops As more people talked about a communication curriculum within the college, it became evident that developing student communication skills was
VOLUME 24 NUMBER 2
a piece to undergraduate education that needed specific attention. Despite the large undertaking this venture represented, Ravenscroft was ready to shine some light on the matter. In 2005, Ravenscroft and Brian Hentz, then a concurrent MBA and rhetoric graduate student, received the Miller Faculty Fellowship. “I had a number of possible ways to help the college,” Ravenscroft says. “I just needed that little extra momentum to get the program going.” After receiving the award, she and Hentz began developing material for faculty, effectively laying the foundation for what today is known as the Communication Center. “We began by helping faculty incorporate more communication-enhanced assignments and instruction in their courses,” says Hentz, now an instructor at the University of Connecticut’s School of Business. “Students received more opportunities in their major coursework to practice communicating
“ This program gives them the resources to differentiate communication needs and deliver an effective message.” * Kay Palan
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
their understanding of core concepts in shorter, more formal written and oral assignments.” Kay Palan, associate dean of undergraduate programs, coordinates the center’s staff and resources. “As Sue’s idea progressed into the Communication Center,” Palan notes, “we needed to add to the team.” So Melissa Suek, an incoming MBA student with a strong communication background, joined the effort, ready to integrate communication into businesses courses. Together, Hentz and Suek helped faculty develop effective, context-specific communication assignments, along with the assessment strategies and rubrics to evaluate them. “Once instructors began incorporating communication assignments in their classes,” Hentz says, “we made sure we were available to help students with these assignments.” Building on the foundation In addition, Hentz and Suek presented instructional modules on communication principles to business classes, including team, speaking, and PowerPoint skills. Suek developed the team skills presentation to highlight effective ways of communicating in person and via electronic media, skills she feels will benefit students from all backgrounds. That module, she says, has been especially well received by faculty and students. “In more jobs than ever, workers are required to work as part of a team,” Suek observes. “Frequently, these teams’ members include experts in different functional areas with diverse backgrounds located in various time zones.” “Both Brian and Melissa provided an excellent foundation for the center,” Palan said. “Ensuring our students learn communication lessons relevant to their discipline is important to us. A communication piece delivering accounting information is going to differ from a marketing communication, which is something our students need to understand. This program gives them the resources to differentiate communication needs and deliver an effective message.”
Melissa Suek, left, and Brian Hentz, center, were instrumental in the creation of the Communication Center.
During the center’s second year, Suek and Maria Wolfe, a graduate student in rhetoric, forged ahead, focusing on one-on-one consulting with students. In addition, the team has been developing a plan to spread the word about the services available to students. “We needed to draw attention to the center,” Wolfe says. “The college provides a wonderful, free service for students and faculty, so we developed an extensive marketing campaign directed at both students and faculty to publicize all we had to offer.” The marketing effort began with a faculty brochure and Web site, located at www.business.iastate.edu/ communication. “We also plan to focus on reaching students with posters located throughout the Gerdin Business Building,” Wolfe adds. “And, we will continue expanding our Web site, turning it into a database of useful information for anyone who is interested.” Suek and Wolfe have already begun building a library of resources to put in the database, offering several videos from professionals in business communications, and even recording their own presentations to classes for students unable to attend the sessions.
“ We have a real opportunity to provide skills to students that will help them achieve their goals throughout their entire career.” * Jeremy Galvin
A unique approach To date, the center has assisted approximately 25 faculty and as many as 3,000 students, figures Palan says represent “just the tip of the iceberg.” “Once our new services are in place,” she adds, “we know we will be able to help many more.” And while many similar programs offer writing advice that is more generalized—for example, correcting grammar and usage for students— Wolfe has broader goals for Iowa State. “While business schools in some universities offer communication centers, our approach of making communication integral in the curriculum is unique,” Wolfe says. “We are putting communication assignments into a rhetorical context so students will be prepared to handle similar situations when they are at work.” Future plans for the center include public workshops and seminars to make information more accessible to students, allowing the center to branch out to anyone interested in learning details about business communication. And as demand for the center’s services grows, Palan hopes to expand the center’s number of employees and physical space. “Our long-term plan,” Palan says, “is to have a larger area for students to visit, practice presentations, work on assignments at a computer, and receive instant feedback on their work.” In two short years, one idea has developed into a center dedicated to improving the communication curriculum offered at the college. As the college’s Communication Center matures, adding staff, services, and resources, more students graduating from Iowa State will enter the workforce with communication savvy that will set them apart and guide them to future success. ■
VOLUME 24 NUMBER 2
A LUM NI NEWS
College Honors Distinguished Alumni The College of Business will honor three Iowa State University alumni at this fall’s Homecoming Awards. Two alumni will receive the Citation of Achievement Award, which was established in 1985 to honor distinguished alumni who have demonstrated outstanding achievement in life beyond the campus. One alumnus will receive the John D. DeVries Service Award, established in 1985 to recognize an individual who has demonstrated outstanding service to the college. The ceremony will be held on Friday, October 24, in the Scheman Building at the Iowa State Center. C I TAT I O N O F A C H I E V E M E N T H O N O R E E S
William Kalm (’73 Industrial Administration) is a retired senior partner with Accenture, the global management consulting and technology firm. He also earned a master of science of industrial administrative sciences from Iowa State University in 1977. He credits Dr. Charles Handy, his mentor and the College of Business’ founding dean, with his career success. Kalm created an internal case competition for MBA students in 2005 at Iowa State, providing scholarships for students on the top three teams. He and his wife Raedene reside in Phoenix, Arizona.
Dale Renner (’78 Industrial Administration) is president and chief executive officer for Red Point Group, his firm in Wellesley, Massachusetts, which provides Web-based customer behavioral transformation and performance solutions for Fortune 1000 businesses. Renner is a leader in the fields of customer relationship management and data solutions. He and his wife Kelly (’80 Journalism and Mass Communications) have three children, including Dan, a pre-business major at Iowa State. J O H N D . D E V R I E S S E R V I C E AWA R D H O N O R E E
Dr. William Thompson (’48 PhD Industrial Economics) is a professor emeritus and retired department head of industrial administration at Iowa State. A native of Scranton, Pennsylvania, Thompson first came to Iowa State as a graduate assistant in 1942 having already earned a BS in business and education from Penn State College in Bloomsburg in 1934 and an MS in business from Syracuse University in 1939. He left Iowa State for Naval Training School in Ohio but returned in 1945, completing his PhD in industrial economics. He remained a faculty member through his retirement as professor emeritus in 1980. Thompson’s three children all graduated from Iowa State. He resides in Ames. ■
by the ISU Alumni Association. The
Financial Group, chairing the corpora-
award recognizes ISU alumni age 40
tion’s award-winning 2005-2006 United
Information Systems) is
and under who have excelled in their
Way campaign, and serves many area
a recipient of the 2008
professions and provided service to
charitable organizations. ■
their communities. Allen manages the
Alumni Award, given
charitable giving program at Principal
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
FA C ULTY A ND STA FF NEWS
New Faculty and Staff Marc Anderson,
include data quality issues in decision
making, software economics, and
of management. He
graduation she worked
previously taught in
as an internal auditor
the Waikato Manage-
for SHAZAM, Inc.
ment School at the University of Waikato
in Des Moines, Iowa, and taught a
in Hamilton, New Zealand. Marc earned
ﬁnancial management class for the
specialist for the dean.
his PhD in strategic management and
Department of Hotel, Restaurant,
She was previously
organization from the University of
and Institution Management at ISU.
Minnesota. His research interests
administrative assistant for the International Journal of Physical
concern the effects of personality and
Tim Folger (’06 MBA), lecturer of
Distribution and Logistics Management,
social networks on organizational
Iowa State University. Julie worked with
behavior, organizational and managerial
Dr. Crum and Dr. Poist, co-editors of this
sensemaking, organizational learning,
international logistics journal. She
the role of metaphors in theory
earned her bachelor’s degree from
development and knowledge transfer,
St. Ambrose University.
and citation practices and the social
construction of organization science.
in Business Career
Services. She graduated with a BA in
Will Bond, undergraduate academic
communications from the University
specialist for the
adviser. He is a graduate student
of Wisconsin-Milwaukee. She is
directors of the PhD
pursuing his MBA at Iowa State. He
currently working on her masters
program and marketing
previously worked in ﬁnancial planning
in higher education at Iowa State.
for the Maytag Corporation and brand
and alumni relations. Martinez was previously with the Iowa Sports
ﬁnance for the Whirlpool Corporation.
Ioannis Yianni Floros,
Foundation where she was the health
Bond also teaches accounting part-time
initiatives coordinator for the Lighten
at Des Moines Area Community College
of ﬁnance. Ioannis
Up Iowa program. She earned her
and works as a resident manager for the
earned his PhD in
bachelor’s degree from Loras College.
ISU Department of Residence. Bond
earned his BSBA in accounting at
tion at the University of Pittsburgh
Central Missouri State University.
where he previously taught invest-
ment management, capital markets
of accounting. His
and efﬁciency of capital markets.
Won Gyun No,
assistant professor of ﬁnance. She earned
areas of assurance on ﬁnancial
her PhD in ﬁnance from
information exchanged over the
the University of
Internet and the effect of privacy in
e-commerce. He graduated from the
University of Wisconsin at Madison
Oklahoma. Her research interests are in the ﬁeld of privatization, corporate ﬁnance, and market microstructure. Kayla Christensen, lecturer of
taught at the College of Business,
with a MACC and received his PhD
University of North Alabama. He
from the University of Waterloo.
earned his PhD in information
accounting. She recently graduated
systems from the University of Texas
Julie Palmer (’05 Liberal Studies),
from the Iowa State University masters
at Dallas. His research interests
administrative specialist to the
VOLUME 24 NUMBER 2
F A C U LT Y A N D S TA F F H O N O R S
of undergraduate programs. She was previously an administrative assistant coordinating client leases
Jennifer Blackhurst received a
Sonja Foley, student service specialist,
promotion to associate professor with
Professional and Scientiﬁc Student
tenure in the Department of Logistics,
Operations, and Management
and contracting management with the
Iowa Department of Human Services.
Danny Johnson, associate professor of operations and supply chain
Julie Saxton, administrative assistant to the editors of International Journal
Travis Sapp received a promotion to
management, Junior Faculty
associate professor with tenure in the
Department of Finance.
of Physical Distribution and Logistics
Kay Palan, associate dean of under-
Management. Saxton previously worked at Consumer Credit in Des Moines as an account specialist. She earned her bachelor’s degree in business from William Penn University. Brittney Schmidt (’08 marketing), is currently the Watson Fellow and
Amrit Tiwana was awarded the Union
graduate programs and associate
Paciﬁc Professorship in Information
professor of marketing, Senior Faculty
The Iowa State University Alumni
Debbie Johnson, assistant to
Association honored John Wong,
graduate programs, Merit Superior
associate professor of marketing, with
its Superior Service to Alumni Award.
graduate assistant working with the
This is given to an Iowa State faculty
college’s development team. Schmidt previously worked as a development intern for the college. She is also
Deb Noll, academic adviser,
or staff member who has demon-
Professional and Scientiﬁc
strated a commitment to establishing
Superior Service Award
or furthering alumni relationships with
currently pursuing her MBA.
Bobby Martens, assistant professor of logistics and supply chain manage-
Ellen Mullen, lecturer of management,
ment, Teacher of the Year Award
was awarded 2008 VEISHEA Faculty
Schwab has a PhD
Jennifer Blackhurst, associate professor of logistics and supply
from the University of Wisconsin and previously taught at Louisiana State University.
Sree Nilakanta, associate professor
chain management, Junior Faculty
of management information systems,
received the Miller Faculty Award. James McElroy, William and Elizabeth
Jessica Van Winkle, undergraduate academic adviser. She is currently a graduate student at Iowa State pursuing
The 2008 Annual College of Business
Goodwin Fellow in Management,
Faculty and Staff Awards Ceremony
Senior Faculty Research Award
was held in April. Honorees included:
her MBA with an emphasis in ﬁnance.
Ann Coppernoll, director of
Doug Walker, assistant professor of marketing. His research focuses
undergraduate programs, Adviser
Roy Teas, distin-
of the Year Award
guished professor of marketing, retired
on the use of marketing
Jan Duffy, adjunct instructor of
databases to manage
accounting, Non-Tenure Eligible
customer relationships. He earned his
Superior Service Award
PhD in marketing from the University of Houston. ■
after the 2007-2008 academic year after 29 years at Iowa State University. ■
Patty Hefflefinger, ofﬁce coordinator for Business Career Services, Merit Student Impact Award
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
DEVELO PM ENT
Using Your Estate to Enhance Iowa State How many hours did you spend planning your vacation this summer? Or landscaping in the backyard? Regardless of your age or the value of your assets, you need an estate plan. This is especially crucial for families with young children.
Now, how many hours have you devoted to planning your estate? For most, the answer is “very few.” We spend 40 years accumulating assets and possessions, but relatively little time ensuring that they will be properly distributed to the people and institutions we care about upon our death. Estate planning is perhaps the least-understood aspect of philanthropy. So in the next four issues of Prospectus, I will describe charitable estate planning and highlight some information that may be useful for you to consider as you think about your estate giving. Estate plans are for everyone regardless of your age or the value of your assets. This is especially crucial for families with young children; parents need to decide who will raise their children in the unlikely event that both parents pass away. Estate planning also determines where assets such as homes, retirement plans, life insurance benefits, and other assests are directed upon death. The document that people are most familiar with is the will, which determines what happens to your property after your death. The first step toward documenting a will is to inventory all of your important personal records and assets, including insurance policies, retirement plans, home mortgages, and any other investments. The next step is to decide who receives your assets. You can give each person or institution a percentage of your estate,
or you can specify dollar amounts. You can also assign specific assets to each entity. The decision is completely yours. A qualified attorney can put your wishes into a legally binding document. For help in preparing your will, I recommend a brochure titled, “Planning for the Future: A Guide to Wills and Trusts.” This is available through the Iowa State Foundation at no charge by calling 800 621-8515 or visiting www.isugift.org. In 1992, Donna Fuller (’68 Industrial Administration) gave the College of Business a percentage of her estate, which would one day create the Donna Fuller Business Endowment in support of our faculty and students. As Donna’s estate has grown over the past 16 years, so has the value of her gift to Iowa State. So we recently reviewed her estate plan with her and determined that her gift would one day establish a named endowed professorship in the college and fund several student scholarships. I encourage you to follow Donna’s example and be proactive in planning your estate. And I ask that you consider supporting Iowa State and the College of Business in your estate plans. I have the privilege of helping channel the passion of our alumni and friends into tangible projects that improve the quality of the experience for our students. I hope I have the opportunity to help make a connection in the College of Business with your passion. ■ Jeremy Galvin is the senior director of development for the College of Business. He can be reached toll free at 866 419-6768 or by e-mail at email@example.com.
VOLUME 24 NUMBER 2
Cox’s Gift Names Dean’s Suite Robert Cox (’62 Industrial Administration) is a passionate—and vocal— supporter of Iowa State University. He has long-standing relationships with the College of Business, the ISU Foundation, and the Athletics Department. Members of each of these groups know that Cox is not shy about sharing whatever is on his mind, even leveling criticism when he feels it is warranted. But no one can doubt that his passion is rooted in a fierce dedication to Iowa State and the power it has to shape people’s lives. So it was especially meaningful when Cox made what he describes as a “down payment” on his existing estate gift to the College of Business as a reflection of his confidence and satisfaction with the college’s leadership. Cox’s gift will rename the dean’s office at 2200 Gerdin Business Building as the Robert H. Cox Dean’s Suite. “Iowa State is very fortunate to have someone so dedicated giving back to the university,” said Iowa State University President Gregory Geoffroy. “Bob’s contributions go beyond the financial. He has a wealth of business experience that is valuable to us as administrators.” “Bob is one of the College of Business’ most successful graduates,” said Dean Labh Hira. “He has been incredibly supportive of our programs, and it is most fitting that the Dean’s Office now bears his name.” For Cox, the decision was simple. “I’m just repaying a debt,” said Cox. “I would not have been a success without an Iowa State education.” Cox resides in Ft. Myers, Florida. He retired as the senior vice president of operations for Norwest Financial, just prior to its purchase of Wells Fargo Corporation. He enjoyed a long, successful career there.
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
Cox is a native Iowan. His father died before he was a freshman at Iowa State, and he nearly quit school as a result. Dr. Charles Handy, then an accounting professor, talked Cox into staying in school, and Cox feels a great sense of indebtedness to Handy for the boost he gave to his career. “Without Chuck pushing me, I would not have completed my education and been as successful as I was,” said Cox. Cox was the first member of his family to graduate from college. He is especially proud of how hard he worked while he was in school. He worked full time while at Iowa State, getting married prior to his junior year and becoming a father five months before he graduated. Eventually, his sister Marilynn Philipp (’65 Growth and Development— Children) and brother Larry (’68 Economics) also graduated from Iowa State. He had a number of job offers when he graduated, and he credited his accounting skills and wellrounded education. “I hated speech class,” he said, “but it taught me how to speak in front of people, and as an executive you do that all the time.” The funds from Cox’s gift will be used toward the Cox Family Scholarship fund, which had already been established in the College of Business. Cox said the scholarship is meaningful to him because it supports ordinary families who want a college education for their children but struggle to afford it. Cox is a member of the Order of the Knoll President’s Circle. ■
“ I’m just repaying a debt. I would not have been a success without an Iowa State education.” —ROBERT COX
DEVELO PM ENT
Aegon Names Business Trading Lab AEGON USA’s Transamerica Life Insurance Company (AEGON Transamerica Foundation) of Cedar Rapids, “ AEGON is committed to developing bright, young financial minds in our college.” —LABH HIRA
Iowa, has made a $500,000, five-year pledge to the College of Business to name the trading simulation laboratory in the Gerdin Business Building. AEGON is a global leader in insurance products, including life insurance, pensions, related investment products and supplemental health insurance products. AEGON’s largest location in the United States is located in Cedar Rapids, home to six of AEGON’s divisions and major business units with more than 2,700 employees. The pledge is an unrestricted gift, meaning that AEGON has given the college discretion to use the gift to pursue its most important initiatives. College of Business alumnus Peter Gilman (’86 Finance), AEGON’s president and chief executive officer of Extraordinary Markets, has been central to the relationship between AEGON and the college. “We at AEGON are pleased to support the College of Business,” Gilman said. “The college has given us many outstanding employees at AEGON and we couldn’t be happier with the relationship.”
AEGON has been a generous contributor to the College of Business. One of its pasts gifts included a $250,000 pledge to create two upperlevel College of Business courses in fixed income, where students work with AEGON employees and spend time on AEGON’s trading floor. Students get to make recommendations in the management of a portfolio of Transamerica Life Insurance Company assets worth approximately $50 million. An earlier $100,000 gift established the AEGON Transamerica Endowed Scholarship, which awards $1,000 scholarships annually to four College of Business sophomores or juniors majoring in finance or accounting, or students enrolled in the master of accounting program. The scholarships reward academic success, as well as campus and community involvement and leadership. The trading lab will now be named the AEGON Transamerica Trading Simulation Lab. It simulates a real-world trading environment, with stock exchange monitors, live tickers, and news. It allows for tutorials, market-based competitions, and projects to show students where market inefficiencies can occur and test whether they can detect and respond to opportunities. “AEGON has been a tremendous partner to the College of Business,” said Dean Labh Hira. “They are committed to developing bright, young financial minds in our college and they have shown that in many ways. We are thankful for what they do for our students and faculty.” ■
THE AEGON TRANSAMERICA TRADING SIMULATION LAB.
VOLUME 24 NUMBER 2
Annual Support for the College of Business The College of Business would like to thank our treasured alumni, friends, and corporate and foundation partners for their cash contributions during the academic year beginning July 1, 2007, and ending June 30, 2008. Their contributions demonstrate a commitment to ensuring that our students and faculty have the resources to grow in an increasingly competitive marketplace. Many additional donors have supported the College of Business during 2006-2007 and requested confidentiality for their gifts. Those gifts are not listed here. If you prefer your name not be published, please contact the ISU Foundation Alumni Records department at 515 294-4656 or firstname.lastname@example.org. For more information on how you or your company can support the College of Business, contact Jeremy Galvin, senior director of development, at 866 419-6768 or email@example.com.
SUPPORT FROM ALUMNI AND FRIENDS $100,000 AND ABOVE Kelley and Joan Bergstrom Robert Cox John and Ruth DeVries David Drury David and Ellen Raisbeck Kenneth and Janet Thome Mark and Terri Walker
Mark and Pamela Fisher John and Rebecca Hsu Timothy and Karen O’Donovan John and Mary Pappajohn Ned Skinner Robert and Virginia Stafford William Thompson Murray and Valerie Wise
$50,000-99,999 Richard and Carol Jurgens John and Connie Stafford Cora Wortman
$5,000-9,999 Miles and Catherine Barker Gail and Janeen Boliver C. Dean and Sandra Carlson G. Steven and Phyllis Dapper James and Ann Frein David Garfield J. Scott Johnson and Julia Lawler-Johnson William Kalm and Raedene Keeton-Kalm Robert and Judith McLaughlin Susan Ravenscroft
$25,000-49,999 Gerald and Margaret Pint Stephen and Rebecca Smith William Varner $10,000-24,999 Delores Boat Ralph and Jean Eucher
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
Tom Rice and Ann Madden Rice Steven and Rose Ann Schuler Troy Senter Smith Family Foundation Trust Lynn and Jody Vorbrich Donald and Patricia Wolfe $2,500-4,999 Kenneth Caratelli Michael and Sue Crum Jerald and Cindy Dittmer David and Kathleen Ecklund Denise Essman William and Gloria Galloway Charles Handy Kurt and Cara Heiden Lorene Hoover Madolyn Johnson Roger Murphy Joanne Reeves Gary and Susan Streit $1,000-2,499 Thomas Andison James Auen Raymond and Joan Beebe Mark and Julie Blake Michael Bootsma Michael and Mary Ann Carlson Thatcher Dilley and Shelly Barnum-Dilley Don and Linabelle Finnegan Beth Ford Donald and Mary Geiger David and Nancy Halfpap Dermot and Caroline Hayes David Hoover Dan and Joanie Houston David and Brenda Keith Timothy and Jolene Kneeland Daniel and Sharon Krieger Cheryl Krongard Mike and Jane LaMair Bruce Lambert Eric and Mary Larson Craig and Beth Marrs John Mertes John and Quay Mitchell Thomas and Janet Nugent
James Owens Larry Pearson Craig and Virginia Petermeier Kevin and Kathleen Prien Brenda Richmann Fred Schuster Larry Scott Javier Seymore Ronald and Cheryl Shreve Mark Stoering and Deanna Elliott-Stoering John and Jennifer Streit Scott Taylor Amrit Tiwana Bruce Webb Richard and Sandy Wellman Scott Wilgenbusch George and Sue Ann Williamson $500-999 William and Susan Adams Scott and Kathryn Anderson Belinda Bathie Leon and Reba Patterson Benschoter Alan and Connie Bergman David and Susan Bolte Winton and Gail Boyd Teresa Carley-Brown Richard Carlson Douglas and Joan Carlson John and Katie Culliton Frederick and Veronica Dark Daniel Davison Richard Deblieck Michael and Jill DeLio Howard and Dee Dicke David Dirks Nancy Dittmer David Erickson Gary and Sharon Godbersen James Graham George and Pauline Grovert Winifred Guthrie John and Joanna Hamilton Brian and Paige Hamilton Gregory Harper Charles and Darlene Harris Craig and Cheryl Hart Jeffrey and Cynthia Heemstra
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Annual Support for the College of Business/continued Thomas and Ellen Howe Michael and Deanna Hummel Douglas Irwin Sheryl Johnson Ryan and Pamela Jones Lawrence Kerr Patrick Kirchner Charles and Teresa Kirkpatrick Pamela Kopriva-Barnes Gregory and Joyce Kveton Robert Larsen Hubert and Judith Lattan Michael and Christy Mergen Martha Miller Mark Miller Paul Miller Thomas Mueller and Sheryl Sunderman Roger Neumann Dennis and Anita Nuetzman Gloria Ohlendorf Jane Onken Gary and Trudy Peterson James and Mary Jo Plantan Dave Reuter Todd Robinson David Safris Douglas and Valerie Saltsgaver Mary Scheve Neil Schraeder and Ruth Ward-Schraeder Jennifer Schultz Michael Shepherd Scott Shoultz Roy and Karen Siple Timothy and Carol Sirpless Jeffrey Steggerda Matthew and Andree Swanson Timothy Van Pelt Jonathan and Gail Ware William and Melinda Watt $250-499 Rick Arnold Walter and Heidi Baskin Justin and Marissa Bauer Keith and Laura Bosler Robert Brandsfield Gary Brandt Jeffrey and Judith Brower 28
Brent Christenson Steve and Terri Coder Cheryl Conover Jeffrey and Elizabeth Cosner Joseph Cote Thomas Crawford Jason Decker and Christina Freese-Decker Sean and Christi Dhabalt Lisa Dias Robert Donahue Bryan Donaldson Randy and Suzanne Downs Martin and Betsy Draper Eugene Egeland Lonnie and JoEllen Elliott Joel and Kristie Elmquist Brian Finzen Louis Glover Marvin and Crystal Gordon Christine Grisham Loren and Linda Gustafson Randal Haase Howard Hecht Jeffery Hadden John and Nancy Halleland Jay Hardeman David and Kay Harpole Paul Hawkins Ronald Henriksen G. Stephen Holaday Blake Howard Kristi Humpal Lynn Jenn Carol Jensen James Jorgensen Thomas and Angie Jostes Vernon and Julie Junker Susan Kesting Eric and Michele Kofoed Steven and Marilyn Kohles Douglas and Cynthia Krage Donald and Jenette Kragel Constance Krelle Venkat Krishnan Deborah Lancaster Chris and Teresa Lapinskie Jeffery Lara Paul and M. Ann Larson Jon and Sharyl Leinen
Lance and Jennifer Leslie Paul Livingston MaryAnn Lundy Michael Maloney Jean Martin Lawrence Massa Alan and Patricia McDaniel Randal Miller Barbara Miller Michael and Beverly Moeller Beth Mohar Daniel and Mary Mosiman Marc Nabbefeldt Amol Naik Lisa Neese John Nelson Roy Nelson Michael and Carolyn Nickey Paula Norby Erik and Deborah Oiler Richard Patterson Gregory Penn Wayne and Heather Prescott Jane Putzier Janet Quick John and Kathleen Ransom Paul and Janet Rath Harold Rosen Naomi Sage David Sawin Mark and Cathy Schmidt Ralph Scott Mark and Rachel Siegel James and Julie Snyder Michael and Julia Sorden Reed Spiegel Ronald Spielman Steve and Pamela Stark Kevin Steffensmeier William and Marcia Steil Martin Stivers Scott Stogdill Tina Thomas Kevin Toft Jose Torres Danielle Trumbauer Donald and Marilyn Tubbesing Merwin Ullestad Valerie Vasquez Scott Vreeman
Stanley Warren Darren Wilson Steven Wilson Brian and Carol Worth Kimberlee Wright David Young Douglas Zubradt $100-$249 John Anderson Linda Armbruster Kelly and Jean Ault Shelly Barnum-Dilley Allan Boyken Howard and Ann Anderson Lynn Anderson Andy and Robecca Anderson David Babler Annette Banwart-Dellacroce Russell and Paula Beecher Merita Bergstrom Matthew Berry Kevin Bockes Marvin and Vicki Bouillon Matthew and Trina Braafhart Clarence Brooker Barbara Brooks Daleen Brown Danny and Sally Brown Richard and Mildred Brown Alan Brown Susan Brown Howard Brubaker Mark Cahill Jie and Chang Liu Cai Craig Calhoun Harriet Campbell Dennis and Marilyn Carr Joseph and Susan Cartagena Keith Carter Troy Casperson John and Lorna Chapman Jay and Karen Heldt-Chapman Barry and Daria Chesnut John Chesser Scott and Diane Cicciarelli Charles Clayton Sherri Coffelt Marvin and Linda Cole Timothy Connolly
VOLUME 24 NUMBER 2
Jeanette Corum Darrin and Margaret Coy Steven and Carolyn Cremer Bryan and Saralyn Crock Sarah Cummins James Cushing Brenda Cushing John and Barbara Dalhoff Charles and Betty Dalton Thomas Dardis Randy Davidson David De Jong Kimberly DeBaere Linda Delong Kathleen Dellisant Chad and Andrea Diaz Joseph Dillavou Ann Dodd Stephen and Laura Doerfler Therese Donnelly Nancy Dop Matthew Doran Michael and Jan Duffy Timothy Dye Jeffrey and Jane Eagan Geoffrey and Maureen Eastburn Kenneth and Laurie Eastman Michael Egan Jerome Eichenberger Allen Eilers Todd and Kelly Elliott Gregory Engeldinger Barry and Kristy Engelkes Lisa Engstrom David Evans Aarik and Mary Evanson Alan Fahrenkrog Rodney and Lea Ann Fields Bruce Fischer Barbara Fleig David Fletcher Dennis Flieder David Formanek Aaron and Emily Forrester Sandra Frank Laura Fredrickson Gary Fridley Bethann Froistad M. Richard and Linda Froistad Jenny Gallagher IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
Chad and Lisa Gammon Brian Garoutte Jennifer Garrels Samara Garton Mark Gatliff Tracy Gerlach Elizabeth Gildea David Gion Rhonda Golden Larry and Mary Grant Jenele Grassle Paul and Gina Greene Jay and Joanna Grubb Steven and Karen Guenther Deborah Halvorson Brian Hamilton Jo Hamlett Jeffrey and Susan Hand Richard Hansen Ryan Hansen Ryan Harnack Nicholee Harrison Andrew and Lea Harrison Jason and Jennifer Hass Mark Hayen Owen Hayes Richard and Karyl Hayes Tamara Hegel Jay and Kathleen Hempe Terry Henricksen Stephanie Hilbert Patricia Hinton Toby and Tricia Triplett Hoffman John Hofmeyer Ted and Eleanor Hollander F. Martin Hollister Allen Horn Stephen and Mary Howard Wayne Howe Gayle Huck Richard Hucka Paul and Nancy Jacobsen Alan Jenkins Lynette Jennings Brian and Maureen Jessen Gary Johnson Jeffrey Johnson Judith Johnson Barbara Kaltenheuser Gary and Geraldine Karr â–
Korlin Kazimour Randy and Kelly Kearn Pamela Kelly Karen Kesl David and Robin Kilgore Shawn Kinman Gary Kleven Daniel Kneller Michael and Angela Krieger John Kronkaitis Valerie Kuehl Patrick and Deanna Kueter Michael Kuhl Joan Kulschbach Barry and Janet Kurth Tracy Laws Jon Leinen Valdean and Lois Lembke Ann Leonard Heather Lindahl-Cross David Lindberg Steven Little Michael Loenser Robert and Mildred Long Bradley Lorenger Paul Lynch Tom and Nancy Macklin Walter Maehr F. Dennis Malatesta Sandra Marcus Lindgren John Martinez Todd May Edward and Noemi Maydew Marsha McCall Michael and Katie McInerney J. Douglas and Suzanne McKinstry Joyce McManus Robert Meinhold Edward Meissner Tara Menke Mark Meyer Theodore Meyers John and Lisa Michel Jeffrey Miller Richard Miller Dennis Milne David Moench Benjamin Morrison Nancy Mortensen David Mumford
Thomas Mumford Brian Nelson Robert Nelson Christopher and Wendy Nelson W. Dean and Vivian Nelson Marc Nichols Benjamin Norton Douglas Obal David Olson Mark Olthoff Brent Olthoff Jeff and Debra Oltmann Robert Patterson Paul Pence Jeffrey Peters Robert and Susan Peterson Dean and Diann Peyton Scott Pfeifer James and Renee Phelps Laurence Pike Carolyn Portner Christine Prell Nathaniel Price Laura Pyer Douglas Ragaller Renee Reimer Grant Reuter Elisabeth Reynoldson R. Michael Riddle Christopher Riggen Michael Riordan James Robinson Lori Rockers Allan and Diane Roderick Marilyn Roorda Bishop Rodney Rosburg James and Susan Rose Sage Rosenfels Shawn and Christine Rourick Gary Sandholm Bryan and Robyn Sauer Jan and Janice Schiedel Karen Schipfmann Kent Schmidgall Daniel Schmitt Pamela Schneider-Jennings Joseph Schnepf Julie Schnoebelen Bruce Schuman William Schwickerath 29
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Sally Selby Gerald Sewick Lloyd Sharp Richard Shepard Larry Shima Bruce and Sally Shimkat Charles Shrader Ryan and Nancy Skubis Christopher and Mitzi Smith Ross and Lisa Smith Daniel Smith Bruce Snethen Richard Snyder Marc Snyder Mark Sorenson Clinton Spangler Julie Sprau Jean Srour William and Deborah Stearns Brenda Stephany Timothy Stoessel Brian Streich Samuel and Margaret Strotman Cristina Strudthoff Kathleen Strum Kathleen Stuck Chad Sturtz G. Thomas and Molly Sullivan Timothy Sullivan Randall and Margie Swoyer John Teduits Martin and Susan Tendler Adrienne Tetreault William Thatcher Michael and Sandra Thome Virginia Thompson Lawrence Thompson Hugh Thomson Steven Thoren Kimberly Thuente Steven and Susan Tollefson Thomas Tregenza Scott and Michelle Triggs Ming-Feng Tsai David and Susan Tucker Natalie Van Note Diana Van Winkel-Roach Howard and Alice Van Auken Robert and Sara Vancura Robert Vander Linden 30
Ryan Vanderhelm Barry and Jewell Vermilyea Drew Vogel Gerald and Susan Walker Daniel Walter Troy and Julie Warschkow Steven and Ann Watson Matthew and Jennifer Weber Christopher and Catherine Weide James Weldon Daniel Werner Bruce Werth Michael Wessel Richard West Leslie Westphal Robert and Cynthia Wetherbee Todd and Cyndi Wheeler Lance and Carrie Whitacre Thomas Whitten Susan Wilson Douglas and Karen Wilwerding Katharina Wilz Larry and Christy Wirth Molly Withers James Woerdeman David Wolfe Brian Woolley Jiangang and Yongjie Hu Wu Tyler Yearous Dustin and Amanda Young The following people have made provisions in their estates during 2007-2008 to support the College of Business: Murray Bacon Ronald and Marla Franklin Mark and Julie Blake Craig and Virginia Petermeier Jean Bacon Louis Robert and Claudia Wolf
S U P P O R T F R O M C O R P O R AT I O N S A N D F O U N D AT I O N S $100,000 AND ABOVE Wells Fargo $50,000-$99,999 Life Investors, Inc. (AEGON) Union Pacific Foundation $25,000-$49,999 Jacobson Companies Metalcraft, Inc. Principal Financial Group Foundation $10,000-$24,999 Boat Foundation, Inc. John Deere Foundation Pioneer Hi-Bred $2,500-$4,999 Computer & Communications Industry Association KPMG Foundation Sandage Charitable Trust $1,000-$2,499 Barr-Nunn Transportation, Inc. Kelley Bergstrom Family Foundation Cerner Corporation Federated Insurance Foundation, Inc. First National Bank-Ames Thombert, Inc. Sevde Self Storage Union Pacific Fund for Effective Government $500-999 Rick Barnes Insurance Agency, Inc. $250-499 Bridgestone/Firestone North American Tire, LLC Office Systems Professionals of Central Iowa $100-$249 Eagle Ridge Kaltenheuser Farms Kinman Enterprises, Inc.
Private Eye Pool Service Sandholm Real Estate Trailhead Associates, LLC The following businesses made matching gifts to the College of Business in 2007-2008 on behalf of their employees: 3M Foundation A & B Foundation Accenture Foundation Inc. Aegon Transamerica Foundation Alcoa Foundation American International Group Inc. Ameriprise Financial Archer Daniels Midland Foundation Avaya Communication Aviva Charitable Foundation Boeing Co Bridgestone/Firestone Trust Fund Cargill—Minneapolis Caterpillar Foundation Cingular Deloitte Foundation Dow Chemical Company Foundation Eli Lilly & Company Foundation EMD Serono Emerson Charitable Trust Ernst & Young Foundation ExxonMobil Foundation FBL Financial Group Inc. General Electric Fund General Mills Fdn. GMG Foundation Goldman Sachs Group Inc. H & R Block Foundation Hormel Foods Corporation Charitable Trust HSBC—North America IBM Corp—CT Ingersoll-Rand Foundation Intel Foundation Johnson & Johnson Key Foundation KPMG Foundation Kraft Foods Corp. Lockheed Martin Corp. Meredith Corp Foundation
VOLUME 24 NUMBER 2
Merrill Lynch & Co. Fnd. Inc. MetLife Foundation MidAmerican Energy Foundation Motorola Foundation Nationwide Foundation Northwestern Mutual Foundation OdysseyRe Pepsico Foundation Inc. Pfizer Foundation Matching Gifts Program Pioneer Hi-Bred Intl—Des Moines PPG Industries Foundation Principal Financial Group Foundation Inc.
Procter & Gamble Co. RBC Capital Markets Robert Half International Rockwell Collins Ryan Companies US, Inc. Sanofi Aventis Group Sauer Danfoss SC Johnson Fund Inc. Shell Oil Co. Foundation Sprint Foundation State Farm Companies Fnd. State Street Foundation TCF Foundation Thomson West Corporation
Tractebel North America Services Inc. Tyco Electronics U.S. Bancorp Foundation Union Pacific Corporation UnumProvident Corp. UPS Foundation, Inc. Verizon Wachovia Foundation Walt Disney Company Foundation Wells Fargo Foundation ■
New Dean’s Advisory Council Members Named Dean Labh Hira has announced three new members to the College of Business Dean’s Advisory Council. They will be welcomed at the council’s fall meeting on Friday, October 24. The new members are:
Peter Gilman (’86 Finance) is the president and chief executive officer of Extraordinary Markets for AEGON USA in Cedar Rapids, Iowa. He began working at AEGON/Life Investors in February of 1993 as the national director of advanced sales for the individual division. Gilman founded Extraordinary Markets, an AEGON company. He lives in Cedar Rapids with his wife Luann (’87 Accounting) and three daughters.
Mark Fisher (’76 Industrial Administration) is the president and chief executive officer of United Community Bank in Milford, Iowa. He started with the bank as a cashier in 1977. Fisher and his wife Pamela live on West Lake Okoboji, Iowa. They established the Fisher Faculty Fellowship in Business, a named faculty position in the College of Business. Both of their sons are Iowa State business graduates— Paul in management information systems in 2005 and Adam in accounting and management information systems in 2007.
Ann Madden Rice (’79 Industrial Administration) is the chief executive officer of the UC Davis Medical Center in Sacramento, California. She oversees the hospital’s 6,500 employees and $1 billion budget. She was previously the associate director and chief operating officer for the University of Iowa Hospitals and Clinics. She is also a past chief financial officer for Mary Greeley Medical Center in Ames. She and her husband Tom (’79 Political Science) have two daughters, Kate and Charlotte, a freshman pre-business major at Iowa State. ■
IOWA STATE UNIVERSITY
COLLEGE OF BUSINESS
DR . C HA R LES HA NDY
From the Desk of Founding Dean Charles Handy I recently read A Painted House by John Grisham. The story, told through the eyes of seven-yearold Luke Chandler, takes place
“ The sacrifice and dedication of my father and mother allowed me to pursue a rewarding career in the field of education.” —CHARLES HANDY
in rural Arkansas during the early 1950s. Luke’s family, which consisted of his parents and paternal grandparents, were cotton farmers. The grandparents own their rural home, which is unpainted like many rural homes, but painted during the story. The Chandlers rent their cotton fields. Each year is a struggle to make ends meet. Luke’s ambition is to play baseball for the St. Louis Cardinals. His summer evenings are occupied listening to Harry Caray broadcast Cardinal contests. Although his family does have electricity, they lack many commonly accepted conveniences like indoor plumbing and television. Saturday is the family’s big day of the week, when they motor to nearby Black Oak to socialize, enjoy a drugstore treat, and watch a movie. Sunday is a day of rest with church attendance a priority. Grisham’s story reminds me of my own childhood spent in small town Coffey, Missouri. (Like other “city” folks, our house was painted.) I too listened to Cardinal games and longed to play for St. Louis. On occasion, I would turn to WHO in Des Moines and listen to the teletype transmission of Chicago Cubs games by Ronald “Dutch” Reagan. My family were merchants whose livelihood depended on trade with area farmers. Like Luke’s family, we had electricity but did lack other modern day conveniences. In winter, bath water was hand pumped from an outside well and heated over our kitchen stove. Summer was a different story; rain water from our home roof drained into large wooden barrels. The summer sun heated the water
adequately for tub bathing. Should barrel water run out or turn stale, the winter procedure was always available. Saturday was also Coffey’s big day. The farmers came to town. Trade at the three major stores was enhanced by free merchandise drawings. During the summer months, local merchants also provided free outdoor movies. There was only one projector, which gave patrons intermission time as the reels were changed. Sundays also meant church attendance in Coffey. Grisham’s tale ends as Luke and his parents travel to Flint, Michigan, where his father was to take a job in GM’s Buick plant. The bottomland farmed by the Chandlers had flooded and a crop failure was once again in the offing. The move accomplished a goal of Luke’s mother, who felt that leaving the uncertainty of cotton farming would afford a better future for her son. Did the move help Luke? I can only assume it did. The Great Depression and crop failures took their toll in my small Missouri community. My family was forced to seek greener fields. Our move was welcomed by my teacher-trained mother. As was the custom in that day, she had left the classroom after marriage. My brother and I became her major concern. She felt the move would enhance our future opportunities. Although my brother’s early accomplishments pointed to a successful life, his future was cut short by his death in the service in 1953. But the sacrifice and dedication of my father and mother allowed me to pursue a rewarding career in the field of education. They weathered very difficult times, and I will forever be in their debt. ■
VOLUME 24 NUMBER 2
WWW.BUS IN ES S. IAS TATE. ED U
COLLEGE OF BUSINESS
Administration Labh S. Hira
Richard F. Poist
Chair, Department of Logistics, Operations, and Management Information Systems
Academic Fiscal Officer
Ronald J. Ackerman
Director, Small Business Development Centers
Michael R. Crum Associate Dean, Graduate Programs
Kay M. Palan Associate Dean, Undergraduate Programs
Marvin L. Bouillon
Director, Graduate Admissions
Steven T. Carter Director, Pappajohn Center for Entrepreneurship
Chair, Department of Accounting Chair, Department of Finance
Ann J. Coppernoll
Thomas I. Chacko
Mary F. Evanson
Chair, Department of Management Chair, Department of Marketing
Director of Development
Director, Undergraduate Programs
Jeremy D. Galvin
James M. Heckmann Mark S. Peterson Director, Graduate Career Services
Jennifer D. Reitano Director, MBA Recruitment and Marketing
Daniel J. Ryan Director, Marketing and Alumni Relations
Kathryn K. Wieland Director, Business Career Services
Director of Development
Dean’s Advisory Council Craig A. Petermeier ’78, Chair
Mark Fisher ‘76
Cheryl G. Krongard ‘77
President, CEO Jacobson Companies
President and CEO United Community Bank
Partner, Retired Apollo Management LP
Ronald D. Banse ‘75
Beth E. Ford ‘86
Robert E. McLaughlin ‘60
Assistant General Auditor Union Pacific Corporation
Executive Vice President, Head of Supply Chain International Flavors and Fragrances, Inc.
Partner Steptoe & Johnson LLP
Kelley A. Bergstrom ‘65
James F. Frein ‘67
Timothy J. O’Donovan ‘68
President Bergstrom Investment Management, LLC
President, Retired Hutchinson, Shockey, Erley & Co
Chairman of the Board Wolverine World Wide Inc.
Steve W. Bergstrom ‘79
David C. Garfield ‘50
David W. Raisbeck ‘71
Chairman Arclight Energy Marketing
President, Retired Ingersoll-Rand Co.
Vice Chairman Cargill, Inc.
G. Steven Dapper ‘69
Ann Madden Rice
Founder and Chairman hawkeye | GROUP
Chairman and CEO Heartland Express, Inc.
Chief Executive Officer University of California, Davis Medical Center
John D. DeVries ‘59
Peter Gilman ‘86
Frank Ross ‘84
CEO, Retired Colorfx
President and Chief Executive Officer AEGON Extraordinary Markets
Vice President—North America Operations Pioneer Hi-Bred International, Inc.
Jerald K. Dittmer ‘80
Isaiah Harris, Jr. ‘74
Steven T. Schuler ‘73
President, The HON Company Executive Vice President, HNI Corporation
Consultant Palm Coast, FL
Executive Vice President and CFO Federal Home Loan Bank of Des Moines
David J. Drury ‘66
Cara K. Heiden ‘78
Walter W. Smith ‘69
Chairman and CEO, Retired The Principal Financial Group
Div Pres, National Consumer and Institutional Lending Wells Fargo Home Mortgage
CEO ITWC Polyurethane
David K. Ecklund ‘72
Daniel J. Houston ‘84
John H. Stafford ‘76
Director of the Global Supply Chain Management Executive MBA Program University of Tennessee, Knoxville
President, Retirement & Investor Services Principal Financial Group
Vice President, Financial Shared Services General Mills, Inc.
Denise I. Essman ‘73
Richard N. Jurgens ‘71
Jane Sturgeon ‘85
Chairman, Chief Executive Officer, President Hy-Vee, Inc.
SVP, CFO and Treasurer Barr-Nunn Transportation, Inc.
Daniel L. Krieger ‘59
Jill A. Wagner ‘76
President Ames National Corporation
Regional Vice President Frontier Communications
President and CEO Essman/Associates and Essman/Research
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