SOUTH E R N M E T H O D I S T U N I V E R S I T Y
COX S C H O O L O F B U S I N E S S
Cox student Mercedes Ulibarri (BBA ’11) already has a job lined up before graduation.
THE NEW CORPORATE CLIMB Today’s career opportunities require business readiness and soft skills from every BBA graduate
The New Role of Finance
SMU Cox announces the Don Jackson Center for Financial Studies
The Life of An Endowment: Ed Cox
Give Your College Student a
10th Annual Summer Business Institute May 31-June 24, 2011 The Summer Business Institute is a four-week, non-credit business certificate program that gives students a solid background in business basics. Practical business skills in key areas such as accounting, finance, marketing and operations management are taught by the Cox Schoolâ€™s world-class faculty and will help students become more marketable in todayâ€™s challenging job market. The Summer Business Institute is designed for current college students with nonbusiness majors and young professionals who have earned their bachelorâ€™s degree within the last five years. Visit www.exed.cox.smu.edu/sbi or call 214.768.2918 or 1.866.768.1013.
DEAN Albert W. Niemi, Jr. ASSISTANT DEAN OF EXTERNAL RELATIONS, EXECUTIVE DIRECTOR OF THE COX ALUMNI ASSOCIATION Kevin Knox ASSISTANT DEAN OF MARKETING & COMMUNICATIONS, MANAGING EDITOR Lynda Welch Oliver DIRECTOR OF DEVELOPMENT Laran O’Neill
CONTRIBUTING EDITORS Alicia Skinner Andrea Kavanagh WRITERS Andrea Kavanagh Jay D. Johnson Lynda Welch Oliver Steve Pate Jennifer Warren PHOTOGRAPHERS Karen Campbell Ren Morrison George Fiala
HOW TO REACH US Marketing and Communications Office Cox School of Business Southern Methodist University PO Box 750333 Dallas, TX 75275-0333 E-mail: firstname.lastname@example.org Website: www.cox.smu.edu Main office: 214.768.1794 Fax: 214.768.3267
GROUP PUBLISHER Kristen Bohn DESIGN DIRECTOR Mark Mahorsky PRODUCTION MANAGER Pedro Armstrong DIGITAL IMAGING SPECIALIST John Gay ACCOUNT SERVICE MANAGER Jennifer Mosley BUSINESS DEVELOPMENT DIRECTOR Lindsay Thomas
How to Reach Us 750 North St. Paul Street, Ste. 2100 Dallas, Texas 75201 www.dcustom.com 214.939.3636 coxtoday IS DESIGNED BY D CUSTOM, 750 NORTH ST. PAUL STREET, STE. 2100, DALLAS, TEXAS 75201. COPYRIGHT 2011 BY coxtoday. ALL RIGHTS RESERVED. THE MARKETING AND COMMUNICATIONS OFFICE RETAINS THE RIGHT TO DETERMINE EDITORIAL AND ADVERTISING CONTENT AND MANNER OF PRESENTATION. THE OPINIONS EXPRESSED IN THE MAGAZINE DO NOT NECESSARILY REFLECT OFFICIAL UNIVERSITY POLICY. LETTERS TO THE EDITOR AND CONTRIBUTIONS TO CLASS NOTES ARE WELCOME.
The SMU BBA: The New Corporate Climb
A rigorous curriculum and top-tier faculty provides SMU Cox BBA students with the ultimate competitive advantage.
BY STEVE PATE
The New Role of Finance
From a live portfolio practicum to a simulated trading center, Cox students experience hands-on learning and the power of the alumni network. BY JAY D. JOHNSON
from the dean
faculty & staff achievements
in the news
don jackson center for financial studies
life of an endowment
calendar of events
COXFROM THE DEAN
as our BBA scholars.
In this issue of CoxToday, we address
the changing face of business education,
We remain forever grateful to our
as Corporate America deﬁnes and adapts
namesake, Ed Cox, and his challenge to
to new ways of doing business. We at the
increase support for the BBA Scholars
Cox School are taking important steps
program. A diverse student body is key
to ensure our graduates are equipped
Center will enhance internship
to enhancing the global vision of our
with the tools necessary to address
opportunities for undergraduate and
University. In fact, this fall 60 percent of
any challenge. These include cutting-
graduate ﬁnance students, encourage on-
enrolled BBA scholars hail from outside
edge knowledge of ﬁnancial skills, a
site meetings with business and industry
the state of Texas. Scholarships play a
heightened global awareness, hands-on
leaders, and bring leading scholars and
critical role in increasing awareness of
mentoring and coaching designed to
ﬁnancial experts to SMU to provide
the Cox School and recruiting students
maximize leadership ability and ﬁnesse
seminars to Cox students and faculty.
from across the U.S and the world.
the “soft skills.”
We simply cannot thank you enough
In an effort to prepare our students
centennial, and the reputation of the Cox
– our alumni, parents, business partners
for this new corporate climb, the Cox
School is stronger than ever. Last fall, we
and friends – for your ongoing generosity
School’s ﬁnance department is focused
received a record number of pre-business
of time and ﬁnancial support. Together
on providing students with real-world
applications, up 58 percent over 2009.
we have made tremendous strides since
experience, including a new trading and
While we celebrate this good news,
the University’s founding in 1911, and
investing center opening this fall.
we also realize that in this challenging
we will continue to prepare the next
economy students are increasing the
generation of business leaders for success
Don Jackson Center for Financial
number of schools to which they apply
in the years to come.
Studies, named in honor of one the most
in an effort to secure the most lucrative
beloved professors in Cox history, is
scholarship possible. The importance
currently underway and will expand
of scholarships has never been more
once the Center is fully funded. This
critical, especially for undergrads such
Initial programming under the new
This year we celebrate our University’s
PROGRAMNEWS UNDERGRADUATE PROGRAMS GRADUATE PROGRAMS EXECUTIVE EDUCATION CENTERS OF EXCELLENCE GLOBAL CONNECTIONS
Undergraduate Programs Un
Cox BBA Alum Selected as Finalists in Bloomberg Businessweek k Competition Out of hundreds of nominated entrepreneurs under the age of 25, Ajay P t l (BBA ’10) Patel dA il P t l (BBA ’10) were selected as two of the 25 ﬁnalists for the Bloomberg and Anil Patel Businessweek “America’s Best Young Entrepreneurs 2010” competition. While still undergraduates at SMU Cox, the twin brothers turned their high school hobby of buying and selling video games into a proﬁtable business. Their company, Game Origin, had sales of over $400,000 in 2010.
Cox Biz Quiz Team Makes Quarterfinals In November, SMU Cox sent a team of three students tto o com co compete ompeette z. in Ohio State University’s Fisher College of Business Biz Quiz Quiz. d, Eighteen teams from the nation’s top business schools competed competed, d to the quarterﬁnal round. The and the Cox BBA team progressed Biz Quiz team consisted of Max Ooi (Cox BBA Scholar and BBA ’13 (ﬁnance) and BS ’13 (economics with ﬁnancial applications), ting)), and Chad Averett (BBA ’11 Mark Trautman (BBA ’13 (marketing)), y). (ﬁnance) and BA ’11 (public policy).
BBA Admissions Team Travels Cross-Country Seeking Top Talent The Cox BBA Admissions ofﬁce ha has been traveling the country to ﬁnd the best and brightest pr prospective BBAs. The staff has vi visited students and schools in At Atlanta, Austin, Charleston, Chicago, Ci Cincinnati, Cleveland, Columbus, Co Connecticut, Coral Gables, Dallas, D Denver, Fort Worth, Greenville, H Houston, Kansas City, Los Angeles, M Madison, Memphis, Milwaukee, N Nashville, New Orleans, New York, N Newport Beach, Oklahoma City, Pa Palm Beach, Phoenix, San Antonio, Sa San Diego, St. Louis, Tampa and Tu Tulsa. Applications to SMU and to th the Cox School of Business have seen a rrecord increase this year, with prebu business major applications up 58% ov over last year. For more information ab about the Cox BBA Admission ofﬁce sc schedule, please visit http://tinyurl. co com/bbaschedule.
Cox Celebrates 10 Years with Accounting Career Awareness Program SMU Cox celebrated its tenth year of involvement with the Dallas Accounting Career Awareness Program (ACAP). The national ACAP program has served over 5,500 minority students, contributing signiﬁcantly to the presence of African Americans both as accounting majors at universities and as professionals in the accounting and ﬁnance industries. ACAPDallas welcomed 48 participants in 2010, which was one of the largest groups in the program’s history. During the week-long program hosted by SMU Cox, participants worked on projects focused on what it takes to excel in the accounting industry.
BBA Students Shadow Financial Executives Last fall, 15 Cox BBAs partnered with Financial Executives International (FEI) members for a career awareness program designed to showcase a day in the life of a ﬁnance professional. In November, the participating FEI members and Cox students were recognized at a FEI monthly dinner meeting at the Northwood Country Club. There, the students had the opportunity to listen to keynote speaker, Mark Buthman, senior vice president and chief ﬁnancial ofﬁcer of KimberlyClark, as well as mix and mingle with 200 ﬁnance executives.
Bloomberg Businessweek Ranks SMU Cox Full-Time MBA #12 Bloomberg Businessweek ranked the SMU Cox full-time MBA program #12 in the nation. This solidiﬁes the Cox School’s “top-15” ranking for all three MBA programs, according to the publication. Bloomberg Businessweek ranks Cox #9 and #15 worldwide for its EMBA and PMBA programs, respectively. SMU Cox is one of only three schools in the country that have all three programs ranked in the top15. The two other schools that hold this distinction are the University of Chicago and the University of Michigan.
Cox Students Awarded at National ALPFA Convention SMU Cox ALPFA student members, Alejandro Rodriguez and Stephanie Aranda, received accolades during the formal awards luncheon at the 2010 National ALPFA Convention. A recipient of the $1,500 Adelante Fund Scholarship sponsored by Ernst &Young, Aranda accepted the award on behalf of her academic achievement and outstanding involvement at SMU and the surrounding community. As the top recipient of the Hispanic Scholar Fund, also sponsored by Ernst & Young, Rodriguez received a $10,000 scholarship for his overall academic leadership in ALPFA and his outstanding contributions to the community.
Prominent Speakers Address Cox EMBAs The orientation for the Executive MBA class of 2012 included several well known speakers. Bob Beaudine (BBA ’77), long-time Associate Board member and author of The Power of Who, presented his revolutionary concept to identify the 12 people within your network who are the foundation for making all the business connections you will ever need. To ensure students understood the importance of a balanced body and mind, Bryan Robbins, SMU’s professor emeritus of wellness, illustrated some beginner yoga poses that can be completed virtually anywhere. Ray Blanchette (EMBA ’04), member of the Cox Executive Board and president and CEO at Ignite Restaurant Group (which operates Joe’s Crab Shack and Brick House Tavern and Tap), served as the annual keynote speaker. Blanchette (pictured right) discussed leadership and how to be successful in the program.
EMBA Class of 2011 Travels to Chile The Executive MBA class of 2011 traveled to Santiago, Chile in October 2010. The 84 students enjoyed corporate visits and speakers including El Teniento Copper Mine, Walmart, Royal Bank of Scotland and Viña Errázuriz Winery. The participants also had the opportunity to ride horses, white water raft and trek in the Andes Mountains.
Cox Faculty Present at Executive MBA Council Conference Tom Perkowski, assistant dean of the executive MBA program, and Delania Teems, program coordinator, attended the annual Executive MBA Council Conference to meet colleagues from different schools throughout the world. The event, held in Vancouver, Canada, consisted of sessions about current trends and best practices of Executive MBA programs. Perkowski, in conjunction with Nancy Nix, executive director of the executive MBA program at TCU, led a session titled, “Is your Current EMBA Curriculum Relevant for Today’s Business Environment?”
Students explored the largest underground copper mine in the world, El Teniento Copper Mine, owned by Chile’s state mining company, CODELCO. In photo: Daren Connel, Greg Spittle, Brittany Easley, Felipe Salles, Keith Aulson, Mike Guerrette. The Mexican Ambassador to Chile, Mario Leal, spoke on the relations between Mexico and Chile, as well as Mexico and the United States. Leal is the uncle of Roberto Carvajal, a current student in the EMBA Program. In photo: Tom Perkowski, Mario Leal, Roberto Carvajal.
Rupal Dalal with fiance, Ron Rodenberg, at the Texas Business Hall of Fame Foundation Awards Ceremony
MBA Student Receives Texas Business Hall of Fame Foundation Scholarship Each year, The Texas Business Hall of Fame Foundation awards students with scholarships for their business and personal accomplishments in Texas. Last fall, a $10,000 scholarship was awarded to Rupal Dalal who graduated with a BA in art history and BBA in management from SMU prior to enrolling in Cox’s MBA program. www.cox.smu.edu
Cox Faculty and Alumni Celebrate First Annual EMBA 10-Year Reunion The ﬁrst annual EMBA 10-year reunion (Tom’s Ten) was held on September 17, 2010. Over 140 alumni attended to help Tom Perkowski and his team celebrate 10 years of excellence. Retired professor John Slocum kicked off the event when he spoke on “The Rise and Decline of Competitiveness.” Harvey Rosenblum, EMBA faculty & senior vice president of research, and Jeff Gunther, vice president of ﬁnancial industries studies, both of the Dallas Federal Reserve led a panel covering the current economy. A reception for classmates with all 10 classes represented concluded the event. The inaugural event was so successful that Cox has already scheduled the second event for September 16, 2011. The next reunion will include the last 10 years of alumni, as well as all previous classes.
1– Brad Anderson (EMBA ’07), Lisa
Gardner (EMBA ’05), LoRen Blakley (EMBA ’07), Anita Kelley (EMBA ’04), Christina Wu (EMBA ’07), Mahesh Moturu (EMBA ’07) 2– Shamail Tahir (EMBA ’09), Keith Cravens (EMBA ’09), Von Mundy (EMBA ’09) 3– Miguel Velazquez (EMBA ’07), Alan Chuang (EMBA ’10), Brad Anderson (EMBA ’07), Diana Romagnoli (EMBA ’07) 4– Alan Chuang (EMBA 10), Miguel Velazquez (EMBA ’07), Diana Romagnoli (EMBA ’07), Christina Wu (EMBA ’07) 5– Vinit Karandikar (EMBA ’08), Harvey Rosenblum, Michael Rogan (EMBA ’08) 6– Cindi Fitzgerald (EMBA ’01), Marko Myllymaki (EMBA ’01), Barry Mike (EMBA ’01), Jan Deatherage (EMBA ’01), Bill Dillon, Bruce Salard (EMBA ’01), Brian Farrell (EMBA ’01), Joe Broadway (EMBA ’01) 7– John Chon (EMBA ’05), Tom Perkowski, Greg Clifton (EMBA ’05) 8– Barnabas Okoronkwo (EMBA ’09), Michael Doweidt (EMBA ’09), Ajay Jain (EMBA ’09), Brock Bizzell (EMBA ’09)
7 8 Spring 2011
Star MBA Marketing Students Awarded with Scholarships The Cox marketing department honored its MBA Marketing Scholars at an awards luncheon in October. Class of 2012 recipients are Andrew Boyett, Stephanie Chan, KC Choudhury, Rob Cohen and Kevin Zentmeyer. Class of 2011 recipients are Chris Bollig, Andrew Casson, Mirelle Leguia, Eric Poole and Nicole Williamson. The recipients were selected based on their performance in the Cox MBA program and their commitment to the ďŹ eld of marketing. All students received scholarship funding from the Cox marketing department as part of their awards package. Pictured (top) Rob Cohen, Andrew Boyett, Stephanie Chan, KC Choudhary, Kevin Zentmeyer Pictured (bottom) Andrew Casson, Chris Bollig, Nicole Williamson, Mirelle Leguia, Eric Poole
On The Run with the Fourth Annual SMU Cox Corporate Relay Challenge For the fourth year in a row, the Cox School and Behringer Harvard sponsored the SMU Cox School of Business Corporate Relay Challenge on December 5, 2010, as part of the Dallas White Rock Marathon. Corporate relay teams consist of ďŹ ve people who each participate in one leg of the full marathon relay (26.2 miles total). The SMU Cox relay team posted a time of four hours and four minutes and was run by Rachel Winton, Mike Gebreselassie, Tom Perkowski, James Stewart and Karthik Ramachandran. Winning relay teams in a variety of categories shared a purse of more than $30,000 in prize money, which was given directly to Texas Scottish Rite Hospital for Children. www.cox.smu.edu
Cox Corporate Relay Team: Rachel Winton, Mike Gebreselassie, Tom Perkowski, James Stewart, Karthik Ramachandran
MSE Students Receive Scholarships Three ﬁrst-year Master of Science in Entrepreneurship (MSE) students received scholarships from the SMU Cox Caruth Institute. Christian Armalavage, Angela Dupont and Nichole Wingﬁeld were selected based on strong entrepreneurial desire and concrete ideas for implementation of a new or existing business. The Caruth Institute has provided $20,000 in scholarship funds to recruit top talent for the MSE program. This program begins annually in August.
Executive Education Receives Excellence in Academic Partnerships Award
Chad Hennings at the NFL Playbook Workshop
SMU Cox Hosts Super Bowl XLV Playbook Workshop Series Over 200 North Texas business owners attended the NFL Playbook Workshop, which focused on identifying business opportunities, marketing strategies and social media. Jerry White, director of SMU’s Caruth Institute for Entrepreneurship, talked about ways to identify business opportunities in a changing environment. Marci Armstrong, associate dean of graduate programs, suggested 10 marketing strategies to thrive in challenging times. Rick Briesch, associate professor of marketing, presented a session on market segmentation, and Bud Weinstein, associate director of the Maguire Energy Institute and adjunct professor of business economics, gave his economic and demographic outlook for North Texas. Chad Hennings, former Dallas Cowboys player, investor and management consultant, provided inspiration and advice to owners of emerging businesses at one of the NFL Playbook Workshop sessions.
For the third year in a row, Chief Learning Ofﬁcer magazine recognized SMU Cox Executive Education with an Excellence in Academic Partnership Award for its work with Pioneer National Resources. Partnering with SMU Cox Executive Education allowed Pioneer to create a custom program and comprehensive structure of leadership development programs. Cox Executive Education continues to help Pioneer’s managers understand ﬁnancial measures that drive the business so they can identify ways to contribute to the bottom line and improve company performance. Other companies that have used Executive Education’s custom programs include Baylor Health Care System, CAPSTAR, Sabre Holdings and Spectra Energy.
SMU Cox Initiates National Hispanic Corporate Council Executive Development Program
Alice Snow, Dan T. Cathey, Frank Lloyd, Paula Strasser and Halle Smith
Executive Education Hosts COO of Chick-fil-A Dan T. Cathey, COO of Chick-ﬁl-A, spoke to the SMU community at the Collins Center last fall thanks to the efforts of Halle Smith, a 2007 graduate of the Summer Business Institute. Three hundred participants enjoyed Cathey’s presentation as well as a Chick-ﬁl-A sponsored lunch.
The ﬁrst module of the inaugural Corporate Executive Development Program (CEDP) for the National Hispanic Corporate Council (NHCC) kicked off in September at the Collins Center. The program is designed to accelerate the careers of emerging leaders through an educational experience that provides knowledge, skills and tools for maximizing strategic relationships inside and outside their corporation. The program offers practical, interactive and handson learning experience to selected corporate mid-level managers. It also offers a comprehensive network of Hispanic executives, who provide ongoing coaching and mentorship to NHCC CEDP graduates. For information on how to participate, go to www.cox. smu.edu/web/executive-education.
Centers of Excellence
Cox Business Leadership Institute Celebrates 12 Years with the Disney Institute In December, the Business Leadership Center (BLC) took 35 MBA students to the 12th annual BLC Disney Institute Program in Orlando, Florida. Students took part in one of the most interactive and useful benchmarking experiences in the world, which includes classroom and ﬁeld experiences. Not only were they able to see how Disney operates, but they also gained valuable insights into how to think about their business from strategic and tactical perspectives. The BLC Disney Institute Program is offered annually for Cox MBA and PMBA students by application only. For more information, please go to cox.smu.edu/web/blc/disney. www.cox.smu.edu
Centers of Excellence Fall 2010 Starting a Business certificate program participants
“Starting A Business” Certificate Program Breaks Record for Attendance The fall 2010 Starting A Business course, led by Jerry White, attracted record attendance, demonstrating that the Dallas entrepreneurial community remains strong. The program welcomed back Chris Cook (BBA ’91), co-founder and CEO of Sleep Experts, as the Distinguished Entrepreneur Speaker. Find more information on this certiﬁcate program, which is open to the general Dallas business community at www.caruth.cox.smu.edu.
Business Information Center Launches Two New Workshops Responding to students’ evolving learning and research needs, the Business Information Center (BIC) will launch two new library workshops this spring. “Moving Beyond Google for Business Research” will assist students in locating a variety of business articles and conduct effective search strategies. In addition, students will learn how to access speciﬁc journals, evaluate articles and ﬁnd resources to help with citations. “Investment Research” will help students to locate research on stocks, bonds and mutual funds as well as learn effective search strategies for analysis, mergers and acquisitions, and comparisons to peer companies.
Global Connections MBA Students at Yantain International Container Terminals in China
MBA Students Travel the Globe to Learn About International Business In December, seven PMBA students and three full-time MBA students attended “Doing Business in Latin America” in Santiago, Chile. Students visited companies such as El Teniento Copper Mine, Chilean Stock and Odjfell Winery. In addition, 12 PMBA students participated in the “Management in Chinese Contexts” course in Hong Kong, China. Students attended lectures by faculty from the Chinese University of Hong Kong. The group crossed the border to Shenzhen, China to visit the Yantian International Container Terminals and the SEG Electronics Market, the largest electronics market in China.
Victor Almeida, Jesus Barney, Enrique Romo (BS ’95), Aby Saadia (MBA ’01) and Carlos Romo (BBA ’89)
Cox Hosts Mexico City Alumni Reception Cox alumni in Mexico City gathered at the beautiful ofﬁces of Cox Executive Board member and president and CEO of Interceramic, Victor Almeida, for an alumni reception hosted by the ofﬁce of global programs and the Cox alumni association. The alumni event capped off an exciting week in Mexico, where Cox staff and faculty celebrated partnerships with its southern neighbor.
SMU Cox Welcomes Our Newest Staff Members: Admissions
Hilary McIlvain, associate director for BBA admissions, SMU Cox BBA Admissions
Diane Brouillard, career coach, SMU Cox Career Management Center
Catherine Baetz, assistant director of development, SMU Cox Development
Patti Tenenbaum, program manager, Executive Education
April Sayre, faculty coordinator, Facilities
Troy Stirman, senior manager of employer relations, SMU Cox Career Management Center
Fran Lapetina, advancement associate, SMU Cox Development
Stephen Piper, assistant director, Executive Education
Jessica Lewis, assistant director of annual giving and stewardship, SMU Cox Development
Faculty & Staff
Achievements Ellen Parker Allen, clinical professor of information technology and operations management (ITOM), received the Delta Sigma Pi Award for outstanding BBA faculty.
ITOM assistant professors, Sreekumar Bhaskaran, Karthik Ramachandran, and John Semple, Charles Wyly Professor of Management Information Sciences and department chair, had the paper “A Dynamic Inventory Model With the Right of Refusal” accepted for publication in Management Science. Neil Bhattacharya, associate professor of accounting, was invited to the National University of Singapore Business School in September where he presented a paper titled “Direct and Mediated Associations among Earnings Quality, Information Asymmetry and Cost of Capital.” He also presented a research seminar to the faculty and doctoral students of the NUS Business School and taught a class to the accounting and ﬁnance doctoral students on applying empirical microstructure tools in answering accounting disclosure questions. In October, Bhattacharya was invited for an academic research presentation at the University of Georgia. In November, he attended an invitationonly conference organized by the accounting department at the Stern School of Business at NYU.
Ed Fox, director of the JCPenney Center for Retail Excellence and associate professor, delivered the keynote address to the third Annual Latin American Retailing Congress in October in Sao Paulo, Brazil. Jeffrey Harris, visiting professor and James M. Collins Chair in Finance, had the paper “Who Drove and Burst the Tech Bubble?” accepted by the Journal of Finance. He participated as panel moderator at IEA/ IEF/OPEC meeting on crude oil prices in London. He presented “Speculators, Prices and Market Volatility” at the University of Mississippi and the University of Delaware. He also presented “In the Aftermath of the Crisis: Evolution in Financial Regulation and Policy” at the National Association of Business Economists in Denver, CO. Harris was named to the program committee for the 2011 Western Finance Association.
Dan Howard, marketing professor, and Roger Kerin, Harold C. Simmons Distinguished Professor, had two papers accepted for publication in 2011. “Name Similarity Effects on Message Processing and Persuasion” will be published in the Journal of Experimental Social Psychology, and “Changing Your Mind About Seeing a Brand That You Never Saw” was accepted for publication in Psychology and Marketing.
Dwight Lee, William J. O’Neil Chair of Global Markets and Freedom, had the article “The Political Economy of Morality: Political Pretense vs. Market Performance” published in December by the Library of Economics and Liberty. His co-authored paper “The Moral Case for Markets” is forthcoming in the winter 2011 issue of Cato Journal. “Welfare Costs of Monopoly” is forthcoming in Managerial and Decision Economics. “Happiness, Adaptation and Decreasing Marginal Utility of Income” is forthcoming in The Journal of Private Enterprise. Lee edited the book A Maverick’s Defense of Freedom: Selected Writings and Speeches of Benjamin A. Rogge, which was published by Liberty Fund Press in the summer of 2010. His book Microeconomics for MBAs: The Economic Way of Thinking for Managers was published by Cambridge University Press, Second Edition 2010. His book Animal Spirits: How Human Psychology Drives the Economy and Why it Matters to Global Capitalism was reviewed by The Freeman in September.
Assistant professors of accounting, Zining Li and Ram Venkataraman, had the paper “Causes and Consequences of Goodwill Impairment Losses” accepted for publication in the Review of Accounting Studies. The paper was joint work with professors at the University of Minnesota.
Frank Lloyd, associate dean of executive education, had the article “Case Study: Creating Leaders in a Volatile Industry” published in Chief Learning Ofﬁcer magazine. The article is based on the Cox School’s relationship with Pioneer Natural Resources. He conducted the Newcomer’s Workshop at the annual UNICON team development conference held at the University of Virginia’s Darden School of Business. Darius Miller, Caruth Chair in Finance, was invited to present his paper “Uninvited US Investors? Economic Consequences of Involuntary Cross Listings” at the Central Bank of Brazil, Central Bank of the Netherlands, Hong Kong University of Science and Technology, Singapore Management University, National University of Singapore, Nangyang Technological University, the New York Federal Reserve conference on ﬁnancial stability, the University of Oregon Corporate Finance Conference, and the University of Twente conference on international corporate governance. Maria Minniti, professor and Bobby B. Lyle Chair in Entrepreneurship had the co-authored articles “Demographic Structure and Entrepreneurial Activity” and “Cluster Formation by Entrepreneurial Breakoffs” accepted in peer-reviewed journals. Her co-authored paper “Entrepreneurial Types and Economic Growth” was published in the Journal of Business Venturing. Her co-authored chapter www.cox.smu.edu
“Market Processes and Entrepreneurial Studies” was published in the 2010 Handbook of Entrepreneurship Research. She was appointed to the editorial board of the peer-reviewed Journal of Ethics and Entrepreneurship. She was also appointed to the historical context pillar committee working on developing a new curriculum. She gave a pillar address titled “The Future of Entrepreneurship Research” at the USASBE meeting in January, and a keynote address, “The Entrepreneurial Propensity of Women” at the V GEM Research Workshop at the University of Cadiz, Spain. She copresented “Health Insurance and SelfEmployment” at the Southern Economic Association Meeting in November and at the American Economic Association Meeting in January. She held the 2011 GEM Ph.D. Workshop attended by more than 40 Ph.D. students and junior faculty from over 30 countries. Lynda Oliver, assistant dean of marketing and communications, had the article "Brand M.B.A.: Lessons From SMU Cox School of Business" published in the November issue of Marketing News. The article explains how SMU Cox rebranded itself to ensure that all marketing and advertising efforts accurately reﬂect all that the school has to offer. Mina Pizzini, assistant professor of accounting, has been named management accounting section liaison for the 2011-2012 American Accounting Association meetings. She published the co-authored paper “The Role of the Internal Audit Function in the Disclosure of Material Weaknesses” in the January issue
of The Accounting Review. Priyali Rajagopal, assistant professor of marketing, had the paper “Marketing Healthful Eating to Children: The Effectiveness of Incentives, Pledges, and Competitions,” selected as a ﬁnalist for the 2010 MSI/ Paul Root award. The award is given by members of the Journal of Marketing editorial review board to a paper that has made a signiﬁcant contribution to the advancement of the practice of marketing, and is co-sponsored by the American Marketing Association and the Marketing Science Institute. Her research paper “I Imagine, I Experience, I Like: The False Experience Effect” has been accepted for a poster presentation at the 6th Annual Judgment and Decision Making preconference in San Antonio in January. Ulrike Schultze, associate professor of ITOM, served as opponent to Riikka Vuokko’s dissertation at the Abo Akademie in Finland in December. She had the co-authored article titled “Designing Interviews to Generate Rich Data for Information Systems Research” accepted for publication in Information & Organizations. Schultze will serve on the Association of Information Systems Communication Committee. In October, she presented research papers and gave seminars in qualitative research methods at the University of Oslo, Norway, and at the IT University in Gothenburg, Sweden. A teaching case Schultze wrote for classroom use titled “Finding the Process Edge: ITIL at Celanese,” has been accepted for publication in the Journal of Information Technology Teaching Cases.
James Smith, Cary M. Maguire Chair in Oil and Gas Management, was invited to present a plenary address on “The Impact of Financial Trading on Oil Prices” at the North American meeting of the International Association for Energy Economics in Calgary, Canada. He was invited to speak on the topic of “Financial Trading and Oil Prices” at the Energy Information Administration’s Annual Energy Conference in Washington, DC in April. Marion Sobol, professor of ITOM, had the co-authored journal publication “Adoption, Use and Efﬁciency: Benchmarking Healthcare IT in Private Practices” published in the International Journal of Healthcare Information Systems and Informatics, January-March 2011. ITOM professors Marion Sobol and Ben Gavish published a paper titled “Warranty Policy Impact on Net Revenues Due to Optional Purchases” in the International Journal of Information Technology and Decision Making, May 2010. Greg Sommers, director of the Cox Master of Science in Accounting Program and professor of practice in accounting, reports that during the summer 2010 testing window, Cox students achieved the highest CPA exam pass rate in Texas at 73.54%, thus reﬂecting the quality of our undergraduate
and MSA students, as well as our faculty’s commitment to their success. Kumar Venkataraman, Fabacher Endowed Professor of Alternative Asset Management and associate professor, joined the editorial board of the Journal of Financial and Quantitative Analysis. He presented his paper titled “Market Crashes and Institutional Trading” at the National Bureau of Economic Research and Market Microstructure meeting in Cambridge, MA in December. He won the best paper award in the area of market microstructure for this co-authored paper at the Financial Management Association conference in October. Glenn Voss, associate professor of marketing, had the article “Enough is Enough! The Fine Line in Executing Multichannel Relational Communication” accepted for publication in the July 2011 Journal of Marketing. Gordon Walker, strategy and entrepreneurship department chair and David B. Miller Professor of Business, presented his paper “Process Innovation, Transaction Costs and Make or Buy Decisions” at HEC Paris.
Morgan Ward, assistant professor of marketing, had the coauthored paper “It’s Not Me, It’s You: How Gift Giving Creates Giver Identity Threat as a Function of Social Closeness” accepted by the Journal of Consumer Research. Bud Weinstein, adjunct professor and associate director of the Maguire Energy Institute, discussed renewable energy and its limitations at the Border Energy Conference in Chihuahua, Mexico. He gave two formal lectures at the Institute of Policy and Innovation, Chinese Academy of Sciences, Beijing. The ﬁrst lecture was titled “A Global Perspective on the Shale Gas Revolution” and the second was titled “U.S. Energy Policy: Before and After the Gulf of Mexico Oil Spill.” He conducted the study “The Economic and Fiscal Consequences of the Drop in Shallow-Water Drilling Permits: Impacts on the Gulf Coast and the Nation” for the Shallow Water Energy Security Coalition. This report generated signiﬁcant media attention and was circulated widely in the U.S. Congress and to energy policy makers in the White House and the U.S. Department of the Interior.
COXIN THE NEWS
Quotables The Smart Manager (India)
“A Family Affair” (10/01/2010) Aakash Moondhra, MBA (’03) shared how his “life-changing” experience as a student at Cox paved the road to his success. He cited the beneﬁts of living in Dallas, diverse and small classes, the Career Management Center (CMC) and the Global Leadership Program. “I shall remain indebted to my alma matter for enriching my life,” he said.
Following are recent samples of Cox faculty quoted in the news.
avoid the type of disclosure that’s made it cheaper for everyone from mutual funds to individuals to buy and sell corporate bonds. That’s because those ﬁrms don’t all report to Finra. “There appears to be a loophole that needs to be addressed,” said Kumar Venkataraman, associate ﬁnance professor, who has studied Trace’s effects on the corporate market.
BNET The Economist Intelligence Unit
MSN Money and the Hufﬁngton Post.
“Running out? Peak Theories Exposed” (11/17/10) Research by James Smith, Cary M. Maguire Chair in Oil and Gas Management, addresses the concept of peak oil that has captured the imaginations of policymakers, analysts, researchers and the public. Smith said the idea of a peaking resource, such as oil, ushering in an era of reduced growth and hardship, doesn’t hold water. His research provides calculations that show the “peak” is an unreliable indicator of resource scarcity, particularly for oil markets governed by the fundamentals of price, supply and demand.
The Wall Street Journal
“Cementing, Mainstay of Oil Drilling, is Prone to Failure” (10/30/2010) Bruce Bullock, director of the Maguire Energy Institute, commented on the uncertainties surrounding the drilling process after the Deepwater Horizon oil spill in the Gulf of Mexico. He said the spill has made people question if drilling is “more art than science at times.” Bullock also said that questions about the industry’s capability will likely color the debate over onshore drilling for shale gas, because many wells are likely to be located near people’s homes.
“When Holiday Gift Giving Offends the Giver” (12/23/10) Research by Morgan Ward, assistant professor of marketing, was highlighted in the Journal of Consumer Research featuring her recent study on how people compensate for giving gifts that conﬂict with their personal views. “Because close relationships are integral to an individual’s sense of self, givers are motivated to choose gifts that match recipients’ preferences, but are threatened by presenting a gift that challenges their own self-concept,” said Ward and co-author.
“AP Survey: Only Slight Economic Gains Seen in 2011” (10/28/2010) Dean Albert W. Niemi Jr. was one of 43 leading private, corporate and academic economists surveyed for expert opinion regarding the economic outlook for 2011. “American households lost $14 trillion of their net worth in the recent recession,” said Niemi. “The loss in wealth, plus tight credit, will depress consumer spending for the next several years.” * This article was picked up in more than 40 news outlets, including The New York Times, The Washington Times,
chief economist, commented on why the Federal Reserve is more concerned with deﬂation than inﬂation. “If you want to worry about something, worry about deﬂation, that is what the Fed is worried about,” he said. “I think some inﬂation is exactly what we need — not a lot and not for long, but some.” “The Surprising Effect of Company Culture on Innovation” (01/03/11) What kind of company culture is key to retaining employees, increasing proﬁts and enabling innovation? Researchers, including professors Zannie Voss and Glenn Voss, studied this question and concluded that the answer is a more “communal” culture that essentially lets everyone pitch in without assigning individual responsibilities. Glenn Voss said, “When it comes to encouraging a communal culture, it seems there’s no such thing as too much.” U.S. News & World Report
“Why You Might Be Better Off Than You Think” (01/20/11) Despite the fact that high unemployment, soaring healthcare costs and a turbulent economy have caused hardship for too many Americans, longer-term gains in quality of life remain largely intact— including many improvements we tend to take for granted. “People care about more than GDP,” said W. Michael Cox, director of the William J. O’Neil Center for Global Markets and Freedom and former Dallas Federal Reserve chief economist. “Living standards also involve leisure time and recreation, variety in choice of diet, working conditions, and safety and security. And most of those things are still getting better.”
“Agency Bond Transparency Derailed by Brokers Avoiding Finra Trade Reports” (11/15/10) While Wall Street’s largest dealers are participating in Trace, brokers that are divisions or units of banks have been able to www.cox.smu.edu
FOX Business News
“Deﬂation, Inﬂation or Stagﬂation?” (12/27/10) W. Michael Cox, director of the William J. O’Neil Center for Global Markets and Freedom and former Dallas Federal Reserve
C O X FA C U LT Y R E S E A R C H
Virtual Worlds, Avatars, and Social Spaces Associate Professor of Finance Ulrike Schultze
With technology, according to Ulrike Schultze, one must question where the technology begins, in combination with the user, and where it ends. In her research, Schultze confronts new boundaries between the avatar and its user in a series of studies of virtual worlds. Virtual world users invariably engage in identity work. They are deﬁning who they are online and how this relates to who they are ofﬂine. One minute the avatar is your doppelganger, the next you inhabit the avatar. Schultze notes, “In virtual worlds, people are constantly constructing what is real and what is not. Is it play or is it really something quite serious and deep?” In part, this is because virtual worlds are ambiguous, in-between spaces. “The avatar constructs a realm of possibility for you,” Schultze notes. Boundaries become blurred in virtual worlds; they allow us to question the taken-for-granted boundaries between technology and
people, and between the virtual and the real. “These are philosophical concepts that researchers and I are struggling with,” Schultze explains, “because where these boundaries are drawn has consequences.” A key takeaway of the research is that virtual world experiences do carry over into the real world, regardless of the way in which inhabitants try to fence off their experiences in Second Life. And by virtue of the lessons learned and experiences gained, it can be a powerful individuallevel learning environment. Schultze afﬁrms, “It is a powerful mechanism for training simulations.” Virtual worlds, and particularly
Second Life, the iconic virtual world Schultze surveils, are social networking environments. In the research, she found that users believe they have obligations to others in-world through the roles they are playing out. This attests to the reality of what is taking place in virtual worlds. Whether a dress rehearsal or a personal virtual reality show starring oneself, these worlds are occupying a growing space for exploration. “The Dialectics Of the Avatar-Self Relationship: A Performative Perspective On Virtual Worlds,” is the second paper in a series supported by a grant by the National Science Foundation.
Derivatives Blur Executive Compensation Incentives Assistant Professor of Finance Swami Kalpathy
New research identiﬁes an increasing practice of corporate insiders and CEOs hedging their ownership in the ﬁrms they manage. Financial engineering has offered a way for executives to reduce the “sensitivity” of their ﬁrm-related wealth to stock price through the use of derivatives. Professor Swami Kalpathy analyzes why and how insiders hedge ownership and the implications for corporate governance. Hedging, done on the personal account of the executive, changes the nature of equity incentives established by the Board. Tying executives’ wealth to ﬁrm performance has been a major goal of shareholders for the last several years.
Because of “concentration” of ﬁrmspeciﬁc wealth in their investment portfolios, many executives now have the incentive to diversify or hedge their equity position in the ﬁrm. This magnitude of unraveling of CEO incentives is troubling for shareholders as they diminish the incentives of managers to engage in corporate activities that increase shareholder value. In other words, there is very little “skin in the game.” Four key types of commonly used derivative securities were identiﬁed and analyzed in the research— prepaid variable forwards (PVFs), zero-cost collars, exchange trusts and equity swaps. Kalpathy explains, “The problem occurs when the amount of ownership hedged becomes non-trivial
as we uncover in our research. Why incentivize executives in the ﬁrst place if this can be unraveled by hedging?” The authors ﬁnd evidence that hedging ﬁrm CEOs witness a 25% reduction in the sensitivity of their wealth to ﬁrm performance. Kalpathy states, “We ﬁnd support for diversiﬁcation story, but also support for an alternative explanation that this is being done opportunistically.” The governance analysis in the paper suggests that these transactions take place at ﬁrms with weaker internal governance mechanisms. “Given the levels that are hedged, I don’t think this is good for shareholders,” says Kalpathy. “Why Do Insiders Hedge Their Ownership? An Empirical Examination” with Carr Bettis and John Bizjak is under review.
Stressed Out, Overworked Systems Should Just Say “No” Professors of ITOM John Semple, Sreekumar Bhaskaran and Karthik Ramachandran
The consequences of pushing an operation to its max can lead to many negative consequences, such as increased costs and worker burnout. Professors John Semple, Sreekumar Bhaskaran and Karthik Ramachandran offer a novel and pragmatic approach to managing demand through better operational choices. Their research also serves as a cautionary tale for overworked systems. In many businesses, high demand can result in signiﬁcant stress on procurement and production. In such environments, the authors show that there is a backlog limit – a point at which a ﬁrm should turn away business. The paper explains why this behavior is optimal for many types of production or inventory
management systems. This work could have applications in other industries, such as petroleum reﬁning, transportation and logistics, agriculture or even apparel manufacturing. Semple explains, “When your system is under stress, it actually costs you more. If you are a retailer, this means higher procurement costs; if you are a manufacturer, this means higher production costs.” He continues, “The real question is what to do when you run out of inventory. Do you continue to
take orders and let them be backlogged or not? If the backlog is really long, and the cost of procurement is high, then at some point you should tell people to come back later. When the system is overly congested and there is not enough capacity, this is a reasonable strategy.” Our policy makes a lot of sense intuitively, suggests Ramachandran. “It may be tempting to backlog a proﬁtable customer’s request, but this promise could have huge and complicated implications for your operation for days and weeks to come.” The message is: If your operation is stressed out, “just say no,” states Bhaskaran. “When you take a lost sale, the immediate cost may be high—but it also limits your future exposure to a stressed out system.” “A Dynamic Inventory Model with the Right of Refusal” is forthcoming in Management Science.
Running Out? Peak Theories Exposed
Professor of Finance and Cary M. Maguire Chair of Oil and Gas Management James Smith
The concept of peak oil has captured the imaginations of policymakers, analysts, researchers and the public. Energy economist, James Smith, provides calculations which show that the “peak” is an unreliable indicator of resource scarcity, particularly for oil markets governed by the fundamentals of price, supply and demand. The concept of an exhaustible resource reaching a peak and then thereafter becoming exhausted came into play in 1956 when M. King Hubbert ﬁrst introduced his hypothesis. A lot has been learned since then. Smith’s central message is that the fundamentals are missing in the equations that should be factored into the ideas of peaking. He writes: “Any well functioning market economy, endowed with a limited amount of an exhaustible resource, will apportion production through time according to prevailing economic incentives that reﬂect market fundamentals, by which I mean the cost of production, discount rates, the www.cox.smu.edu
strength of current versus future demand, and the availability of substitutes.” Many thought in summer 2008 that oil prices of $145 a barrel might indicate the peaking of oil supplies. The ﬁnancial crisis and recession that followed, and the oil bottoming out at $35 by early January 2009, were exactly the types of fundamentals illustrated by Smith’s peaking scenarios under different economic assumptions. Smith says, “If we were to rely on the peak to signal impending exhaustion, it seems that substantial warning is supplied; it certainly provides more than a lastminute indication. In short, peaking is an ambiguous indicator of the arrival of scarcity. Smith relays, “We do have to pace ourselves going through, however. As a resource becomes increasingly scarce, price rises in a fairly predictable way. Before we run out of conventional oil, its price will rise to the level that ushers in the new age of the backstop [technology].” “We are becoming a more global
economy that is governed by markets. That’s the right paradigm, “ Smith states. “Top level changes in statistics or indicators give no meaning to what is happening on the ground, the fundamentals. Peak theories are not reliable in revealing true scarcity. “The Portents of Peak Oil (And Other Indicators of Resource Scarcity)” has been presented at global conferences in Asia, Europe and the U.S.
THE SMU BBA:
THE NEW CORPORATE
CL MB A rigorous curriculum and top-tier faculty provides SMU Cox BBA students with the ultimate competitive advantage By Steve Pate
As a high school senior in Salt Lake City, Mercedes Ulibarri (BBA ’11) knew she wanted to pursue an accounting career. As she sought out the best business schools in the nation, she narrowed her focus on two: Southern California and SMU.
DID YOU KNOW? The Economist ranks the Cox School’s faculty quality and alumni network among the top 15 business schools in the world.
The caliber of faculty at Cox caught her attention. “It really comes down to the quality of the professors,” Ulibarri says. “They’ve worked in the ﬁeld for a long period of time, and they’ve all done different things. That’s given me a good amount of exposure for the types of problems I’ll encounter in the accounting ﬁeld. I now have solutions to ﬁx problems, instead of just being fed the information.” The school’s dedication to excellence is an experience also shared by Mark Plunkett (BBA ’96). When Plunkett hit the SMU campus almost two decades ago as a kid from a small town in Arkansas, he set his sights upon environmental engineering and pre-law. “The latter portion of my freshman year, I decided on Cox,” Plunkett says. “Part of it was interaction with upperclassmen, in terms of the kinds of experiences they were having.” Plunkett’s climb ever since has amounted to one soaring stop after another. He credits Cox for his immediate landing with management consulting ﬁrm McKinsey & Company. He moved to a private equity ﬁrm, and was later awarded a Fulbright Scholarship in Mexico City. He went on to become student body copresident at Harvard Business School (HBS), where he received his MBA, brieﬂy returned to private equity in Washington, D.C., and then entered the hedge fund ﬁeld. Two years ago, he and a HBS classmate started their own investment ﬁrm, Hilliard Street Capital. His is one of many brilliant Cox BBA success stories.
Your Conduit to a Great Career
“Cox helped me establish a solid foundation of business skills, the ﬁrst building blocks of starting my career,” Plunkett says. “In terms of networking, it was also very helpful. The highquality faculty, the smaller class sizes that allow you to really work with the professors, and being put on the right trajectory to ﬁnd that right job out of college — all were important.”
It’s no surprise that Cox grads move effortlessly from classrooms to boardrooms with more corporate savvy today than perhaps just 10 years ago. However, students don’t just choose the school; Cox selects only the brightest. Students typically enter as juniors; however, 100 well-qualiﬁed freshmen are also admitted through the exclusive BBA Scholar program. Competition among students is keen: BBA Scholars represent the best and brightest from the incoming freshman class, with an average SAT well over 1400 on a 1600-point scale and a 3.7 GPA. These students are then given access to the Cox BBA Career Center and the BBA Academic Advising ofﬁce to select classes. It’s not a cutthroat mentality; it’s just the best of the best. “Admission to Cox as a freshman is incredibly competitive,” says Jim Bryan, director of BBA admissions at the Cox school. “The BBA Scholars are absolutely the best students who come to SMU every year.” The Cox School of Business provides opportunities that change lives and careers, from the resources of the Edwin L. Cox BBA Business Leadership Institute (BLI) to mentoring from the Business Associates Program (BAP). Factor in Dallas as one of the world’s prominent business centers, and it’s clear why a BBA from SMU Cox has value well beyond the ﬁrst few years of a career. The Dallas/Fort Worth area is currently the second largest home of headquarters for companies that trade on the New York Stock Exchange — a home-court advantage that allows Cox students to take what they learn in the classroom and immediately put that knowledge to use outside.
Graduating to ‘World Citizen’
It’s no longer enough to graduate with a regional or national focus either. Bryan points to the growing expectation by recruiters that graduates understand the impact of world affairs and how it interrelates to business. “One of the most important things we can do as a business school is make sure that students have the knowledge and the experience to deal with the international business world — that they study abroad, that Spring 2011
Student Mercedes Ulibarri (BBA â€™11) is on the corporate climb. She has already secured a job before graduation.
The quality of the Cox faculty has impacted Ulibarri, who says she now has â€œsolutions to fix problems, instead of just being fed the information.â€?
they learn foreign languages, that they become a world citizen,” Bryan says. Stephanie Dupaul, director of admissions for SMU, is equally emphatic about students departing Cox with eyes wide open. “I think it goes without saying that in our rapidly shrinking world, global business literacy is critical for success,” Dupaul says. “We can no longer think about business in geographically isolated silos, teaching ‘business’ in one classroom and ‘international business’ in another. You simply can’t think about ﬁnance without thinking about global, political and economic issues. “Fortunately, SMU students are eager to embrace the global business view by participating in SMU’s education abroad programs, securing internships in London, Dubai and China, and adding second majors in foreign language or international studies.”
A Faculty Unlike Any Other
Ask any person within the “Cox family” what separates it from other business schools, and the answers may vary depending on expertise. Yet Bryan, like Ulibarri, is quick to answer: “The faculty is simply amazing. We have incredible professors teaching our undergrads,” he says.
Mentors and Emerging Leaders
Dallas’ corporate environment and the remarkable willingness of local business leaders to embrace Cox undergrads have ensured a seamless stream of talented professionals. The Business Associates Program involves the participation of more than 100 leaders from prominent Dallas/Fort Worth companies. Pat Kriska has been BAP’s associate director of undergraduate programs for almost 10 years. She interviews students to ﬁnd out their needs, studies the list of top leaders and matches them up. Kevin Knox of the SMU Alumni Ofﬁce refers leaders to her. “Roughly half of the mentors are alumni,” Kriska says. “And some of them are from companies that recruit our students regularly. That gives them the opportunity to groom the students and have them come out of here being the kind of job candidates they’re looking for.” Bryan adds, “That’s only able to happen because we’re in Dallas. If we were in a city that didn’t have a great corporate structure, we couldn’t do that. Or, if we were a giant school, we couldn’t do that.” Ulibarri, a senior accounting major graduating this spring, is a great example of
the Cox experience. She has already secured a job from the Dallas ofﬁce of KPMG.
Management and leadership coaching is essential to today’s graduate. The Business Leadership Institute was ﬁrst offered as an elective in 2002. Two years ago, the faculty decided that all Cox students graduating with a BBA needed to have a necessary communications concentration. The BLI is now a required credited course, helping students understand the critical difference between those who lead and those who manage. Paula Hill Strasser, BLI director, says, “Management is more than tactical theory, budget control and the precise details that you would expect any BBA to know leaving the Cox school. The BLI class, ‘Business Communication and Leader Development’ includes leadership styles, business presentation and individual coaching to maximize student performance to adapt to any organization. The course focuses Dallas’ corporate on visionary, environment and innovative thinking the remarkable to exceed business willingness of local expectations.” business leaders And throughout to embrace Cox the Cox process, undergrads have the power of the ensured a seamless alumni network is stream of talented emphasized and professionals. highly visible, with 38,000 alumni around the globe. “One of the things we always tell our students is be nice to each other,” Bryan says. “They’re going to be your colleagues throughout life. You’re going to be doing business with that person sitting next to you — soon.”
These days, Mark Plunkett serves on Cox’s Alternative Asset Management Board and speaks to classes on topics related to private equity and hedge funds. “The in-class experience provides the fundamental building blocks,” Plunkett says. “But students also get the out-of-classroom experiences as well. It rounds out students and makes them attractive [as hiring prospects]. “As an alum, another nice thing is just the chance to be around really quality people, which makes it all the more pleasant to stay connected to the institution.”
WHAT DO RECRUITERS LOOK FOR IN BBA GRADUATES?
By Alanna Quillen There’s no doubt that the SMU Cox experience gives graduates a competitive advantage, but did you know that “soft skills” and other traits make a difference too? Paula Hill Strasser, MBA Business Leadership Center and BBA Leadership Institute director, shares several considerations: Good presentation skills. Know how to deliver a presentation with structure, be articulate and use appropriate delivery and verbal communication. “Communication is first,” Strasser says. Excellent writing. Recent graduates should master appropriate business writing, particularly when writing a business proposal or executive summary. Leadership skills. Strasser says job seekers should know their strengths and when to adapt. She also emphasizes the importance of leadership experience on a résumé. International immersion. Studying abroad is very important. “I’m not saying it’s essential, but I do think it adds tremendous value,” Strasser says. Studying abroad shows that the potential hire is willing to experience a diverse culture and way of doing business. Soft skills. Last, but certainly not least, are soft skills, which include the ability to exercise professionalism, a strong work ethic, communications and negotiation skills, conflict management and team building. “There is a belief that soft skills have become the hard skills for many new hires because it’s easy to measure quantitative skills,” Strasser says. “Soft skills are very difficult to test,” she adds. “They can be developed and some students do have the capability of reaching a higher level than others.” Employers want to know how you collaborate with a team of other employees and how effective you will be at leading a project. “That is very hard to find until the employee is hired and is on the floor,” Strasser says.
Lysle A. Witter (BBA â€™11)
The New Role of Finance From a live portfolio practicum to a simulated trading center, Cox students are applying relevant lessons and tapping into the school’s massive finance network.
By Jay D. Johnson
s companies scrutinize their ﬁnancial footing like never before to gain a competitive advantage in a global economy, the ﬁeld of ﬁnance is undergoing a transition from the world’s largest companies to the university level.
Some experts initially expected that backlash against ﬁnance professionals during the recession would result in fewer students pursuing ﬁnance degrees. However, with this new scrutiny comes a demand for wellequipped ﬁnance graduates with a ﬁrm understanding of global economics. It’s a differentiation appreciated at SMU Cox, where students are prepared with the latest in practical applications and a powerful network of experts, according to William Maxwell, chair of the ﬁnance department at SMU Cox School of Business. “With the ﬁnancial meltdown,” he says, “there was a belief that ﬁnance got egg on its face, and there would be a corresponding drop in the number of students pursuing that degree. That was not the case at all. It is still the most popular major on campus, and there will continue to be strong demand for ﬁnance graduates.”
Student Lysle A. Witter (BBA ’11) is experiencing that ﬁrsthand. Although he graduates in May, he says: “I’ve been lucky enough to know I have a job since last September.” After landing a summer internship at Lazard’s Investment Banking Division with the help of a Cox alumnus, his experience ended with a full-time offer with the oil and gas mergers and acquisitions group. “It’s all about strategic corporate options,” Witter says. “Finance is the lynchpin of society; it’s the ﬂow of capital from investors to innovators.” Maxwell believes that in the current economic climate, business leaders must ﬁnd new ways to remain competitive in the global economy, and this is particularly true in the complex arena of managing a company’s ﬁnancial resources.
The CFO: The New Conﬁdant
› MASTER OF SCIENCE FINANCE DEGREE PROGRAM
Launching in fall 2012 at Cox Looking forward to the fall of 2012, even more exciting changes are on the horizon for Cox finance students when the school introduces a new Master of Science in Finance (MSF) degree. Unlike the traditional two-year MBA, which requires students to have some work experience, this new master’s degree is an intensive, one-year program that students can begin immediately after receiving a bachelor’s degree. It is designed to train students who come to finance from quantitative fields such as engineering, math, statistics, economics, etc. “Although these students may have been trained well, they don’t have the skill set or the terminology to work in finance,” says Kumar Venkataraman, associate professor of finance at Cox. The intensive one-year program of “pure finance” will prepare graduate students to transition into finance from whatever technical education they previouslyy received.
The changing role of ﬁnance is particularly evident in the fourth-annual SMU Cox CEO Sentiment Survey™, says Miguel Quiñones, professor of management and organizations. In the 2010 survey, when CEOs were asked whom they conﬁded in the most, their responses were spouse, friends and CFO, in that order. “Last year, when the emphasis seemed to be on cost-cutting, the COO held that third position,” explains Quiñones, who directs the annual survey along with Robert Rasberry, assistant professor of management and organizations. “Now, CEOs want to have a handle on an evolving ﬁnancial situation. Putting their companies on solid ﬁnancial footing is crucial in this economy. Their focus is on improving the balance sheet and making sure they are prepared for future growth. Companies that are positioned to take advantage of opportunities usually come out well after a recession.” Accordingly, ﬁnance majors at SMU Cox are well positioned to take advantage of the opportunities that a top-notch education provides and prepares students for. “This is a very exciting time for ﬁnance students at Cox,” Maxwell says. “We’ve had a number of gifts from alumni that will allow us to move forward to a whole new level and become one of the preeminent ﬁnance schools in the country.”
From Classroom to Career
For undergraduates in its ﬁnance department, Cox has focused on two key components: ﬁrst, increasing the academic co rigor rigg of the program, and second, providing industry exposure that gives students an ind dustry ex understanding of how to apply what they und derstand havee learne learned in the classroom to the market. In n terms of rigor, Kumar Venkataraman, associate professor of ﬁnance at Cox, assocciate p explains explai ains that th ﬁnance majors must now take a set of o advanced electives, such as International Interna nation Finance, in order to graduate. Additionally, Additio onall the department has created a new, highly higghly selective program that focuses on the ﬁeld ﬁeld of investments. Where previous
students might have been exposed simply to mutual and investment funds, this new focus also includes alternative assets, hedge funds, commodities, etc. “What we have done,” Venkataraman says, “is introduce a program for students to learn the language of that ﬁeld and to teach them to analyze risk and return in that new context.” The highly selective program accepts only 20 undergraduate students who take two advanced electives in the ﬁeld and participate in a summer internship, working with companies that specialize in alternative investments. “Cox gave me a lot of advantages,” says Witter, who credits the faculty, resources, and the mentoring program for his success. “I’ve been in school during one of the craziest times in the stock market and professors have been very willing to talk about what’s going on.” As for the mentoring program in which he participated, he was thrilled to learn from someone who is inspiring his future: “They matched me with someone who has the job I want in ﬁve years.”
Learning in the ‘Trading Center’
On the “applied academics” side, this fall, Cox’s ﬁnance department will open its new investing and trading center, where students will trade stocks with simulation software and write analyst reports using databases such as Bloomberg — an experience that gives them hands-on learning and invaluable feedback. “This is an attempt to give our students exposure that corresponds to the real world, to expose them to many of the databases that they will see once they graduate,” Venkataraman says. The students agree. “Learning the fundamentals of that before you get on the job is an advantage,” Witter says.
A Portfolio Practicum with Relevance
Additionally, students can engage in a portfolio practicum that serves as a classroom investment committee, allowing
the s ’ t i ; ety i c o s of n i p h nc y l e h is t e c n “Fina
them to manage a $5 million live portfolio. The students must research stocks, collect data, write analyst reports and make a pitch for a stock to be included in the fund. If the pitch is successful, the stock is purchased and held, and the student writes a report on its performance. Upcoming changes to the practicum will reﬂect relevant ﬁnance curriculum updates, as well as current investment practices. “We will team-teach it with someone from the academic side and someone from the practical side,” Maxwell says. Kirk Rimer, who worked in the Investment Management Division of Goldman Sachs for 21 years and now is a managing partner with Crow Holdings Capital Partners and serves on the board of Cox’s Alternative Asset Management Center, will teach students how to manage money and risk across multiple asset classes. “It will give students a broader understanding of investments, given that there are so many types of exotic instruments out there,” Maxwell says. “It’s learning how to build a 21st century portfolio.”
Dallas: Third in the Nation
Aside from all of this, the ﬁnance department is working hard to expose students to the ﬁnancial opportunities available in Dallas/Fort Worth. The region is home to the third-largest number of hedge funds in the U.S., trailing only New York City and Greenwich, Connecticut, and also has the third-largest population of Certiﬁed Financial Analysts (CFAs) in the country. Add the immense number of corporate headquarters in North Texas, and it’s easy to see why Cox could reasonably expect to achieve its goal of preeminence in ﬁnancial education. To that end, the school has recently begun a biweekly professional speaker series with a dual purpose: ﬁrst, to
integrate the school more closely into the D/FW ﬁnancial community, and second, to expose students to the broad array of possibilities afforded by a ﬁnance degree from SMU Cox. “Many students say, ‘I want nt to be in ﬁnance,’ but they don’t know w what that really means,” Maxwell explains. lains. “What does it mean to be in investment ment banking? What does it mean to work on the buy side, or for a hedge fund? What does oes it mean to be in distressed ‘vulture’ investing? We want to prepare our students ts to really understand what ﬁnance is all about.”
The Network in Action ction
Every other week, the ﬁnance ance department welcomes CEOs, s, CFOs, money managers and entrepreneurss to the campus to discuss what they do and what it takes to be successful in the industry. stry. “So many students are lostt about what they want to do after graduation,” ation,” he says. “But then we have these professionals ofessionals come speak to them, and many any leave saying, ‘I want to be that guy!’ y!’ All of a sudden they have a ﬁre lit under nder them, and I love to think that we have some people who are going to be that person rson 20 or 30 years from now.”
Witter has been lucky h to land a job enough upon graduation. He credits the Cox alumni or helping him network for nternship that with the internship o the job offer. led to
s.” r o t a innov
to s r o itter t s W . e A v e sl in m ent Ly o d u r t f S — ital p a c of ›
NYSE COMES TO COX ON APRIL 20
On April 20, SMU Cox is hosting the New York Stock Exchange for a series of events on the global economy, as well as the NYSE Closing Bell Ceremony. Duncan Niederauer, CEO of NYSE Euronext, will kick off the morning at the Cox School of Business, where he plans to have a candid, off-the-record conversation with a finance class. Afterward, he and SMU Cox Dean Al Niemi, Jr., will host NYSE C-level executives at a luncheon where they will discuss issues facing publicly traded companies. A public panel discussion will follow in Crum Auditorium. Then, at 3:00 p.m., the dean and representatives of the NYSE, along with hundreds of Cox students, faculty and staff, will head to the Cox courtyard and hold a special ceremony to close the day’s trading with the remote ringing of the NYSE Closing Bell. The event will be globally broadcast on the NYSE Euronext websites.
The Don Jackson Center For Financial Studies
Continuing the Legacy of a Beloved Cox Professor
or retired Cox Professor Dr. Donald F. “Don” Jackson (BBA ’63), teaching was his calling in life. Jackson’s mission was to share his teaching gifts in a way that would instill in his students a love of learning and a foundation of knowledge that would serve them well throughout their lives. Jackson began his career at Cox in 1967 as an assistant professor of ﬁnance teaching Introduction to Finance. He quickly endeared himself to his legions of students with his energetic reality-based lectures and case studies. Outstanding Professor awards from the University and the School of Business soon followed. While accepting the ﬁrst of two Nicolas Salgo Distinguished Teaching Awards, Jackson announced that he would give the $1,500 award back to the University to establish a real-money investment fund to give his students hands-on experience
in investing. Mary Jo Vaughn Rauscher (SMU ’51) was in the audience, a frequent audit student at Cox. After the luncheon, she asked Jackson to teach a group of her friends about ﬁnance and investments in return for their donating their tuition to the stock fund. Jackson had discovered another eager cadre of students, and thus the Women’s Economics & Finance Series was born. Founded in 1973, the seminar series deals with current economic events and a solid foundation of investment and ﬁnancial management knowledge. The ever popular class has a lengthy waiting list for new members. That ﬁrst year, Jackson’s portfolio yielded a total of $11,000 to invest. Thirty-seven years later, this portfolio now known as the Practicum in Portfolio Management, offers one of the oldest and largest student-managed portfolios in the United States. Currently,
Nicolas Salgo Teaching Award presented to Professor Don Jackson (left) by Dean Jack Grayson. there is both an undergraduate and a graduate portfolio with a combined value of $6.6 million. The MBA portfolio has beat more than half of the U.S. Equity professional money managers over the past year and beat its benchmark, the S&P 500, by 6.5% for the year ending 3/31/2010. One of Jackson’s star students in the 1970s was David B. Miller (BBA ’72, MBA ’73), co-founder and managing director of EnCap Investments, L.P., SMU Trustee and Cox Executive Board Member. Miller, a former Mustang basketball player, fondly remembers one of his ﬁrst ﬁnance classes with Jackson. “I, along with the other athletes, took a seat on the back row. After class he pulled me aside and offered the following advice, ‘There is a big world full of opportunity out there, and if you will prepare yourself, I believe you have the potential to be highly successful. As a ﬁrst step I would strongly encourage you to move to the front of the room and get involved in our classroom discussion.’ From that moment forward, Spring 2011
we had a very special relationship.” “After taking six or seven of his courses in undergraduate and graduate school,” continues Miller, “he was instrumental in helping me get my ﬁrst job. Jackson wasn’t just an outstanding teacher, he was a mentor.” Miller credits the Cox School and Jackson speciﬁcally for providing him with a strong educational foundation and inspiring him to reach high. Today, EnCap is the foremost provider of private equity capital to the oil and gas industry. The ﬁrm has managed over $10 billion for 200 U.S. and foreign institutional investors. EnCap recently closed on its 15th fund with total capital commitments of $3.5 billion. As a way of giving back, Miller and his wife Carolyn provided a $1.5 million lead gift that will help establish the Don Jackson Center for Financial Studies. The Center will provide enrichment programs for students and faculty in the Cox School’s ﬁnance department. “My vision is for this Center to support and promote for future generations the kind of classroom energy, and student/ teacher relationships and interaction that I experienced under Don Jackson,” said Miller. “His focus was on the practical approach to ﬁnance. He had a great grasp of the kind of skills ﬁnancial institutions were looking for, and what we learned was readily transferrable to the real world.” The total amount of funding needed to create the endowed Center is $2.5 million with efforts to secure the additional $1 million ongoing. The Don Jackson Center for Financial Studies will provide support for student-managed ﬁnance clubs at the undergraduate and graduate levels and funds to encourage students to take advantage of internships to support their ﬁnance concentration. Student travel grants will be provided to support attendance at conferences and seminars to encourage onsite meetings with business and industry leaders. The Center will also organize conferences on topical issues and bring leading scholars and ﬁnancial experts to SMU to conduct seminars for Cox students and faculty. And to honor Jackson’s legacy, the Center will recognize faculty achievement by establishing an annual Outstanding Teaching in Finance Award. “The goal of the ﬁnance department is to provide an unparalleled education for our students. The www.cox.smu.edu
Don Jackson Center for Financial Studies is a key component in moving us in that direction. It will be used to create numerous opportunities for the students to further their education and differentiate them in the marketplace. We are excited about the opportunity it provides,” said William Maxwell, Rauscher Chair in Financial Investments and ﬁnance department chair. “We are incredibly grateful to David for his ongoing generosity and desire to give back to his alma mater,” said Albert W. Niemi, Jr., dean of the Cox School. “David is highly respected throughout the business community, having demonstrated outstanding leadership and character throughout his career, and we are proud to have him among our most distinguished alumni.” “What a thrill it will be for me if this Center can pass on to another generation of students the kind of great learning experiences my students and I had together,” said Jackson. “I hope it will offer multiple opportunities for energized face-to-face interaction among faculty members, students and corporate ﬁnance professionals in ways that enrich all involved. Maybe those students enrolled during my years at SMU will be some of the adults reaching out to Cox students through the Center activities!” Were you one of Dr. Jackson’s investment students or enrolled in corporate ﬁnance? Maybe he got you your ﬁrst interview downtown. Did you learn at Cox things that have grounded you and served you well in your careers? Maybe you’re one of the fortunate few to be in the Practicum and now are gleaning the fruit of seeds planted back in the 70’s. Find out how you can help pass on your good fortune by supporting the Don Jackson Center for Financial Studies. Contact Laran O’Neill, director of development for the Cox School of Business, 214.768.4988, for details.
Rotunda 1969 “A teacher hopes to accomplish many things in his work – a required course made interesting, dull textbook material brought to life, enthusiasm for the subject transmitted to students. Most important of all goals, however, is the sense of a personal relationship with each participant regardless of class size. A teacher tries somehow to create a vital and vibrant atmosphere in which he and his students together turn textbook knowledge into vital and viable concepts to use long after semester’s end – that’s what it’s all about.”
T Today, the Women’s Economic and Finance Series remains as popular as the day it was S established. “I thought we might get 10 or 12 e women for the course, but before I knew it w we had 35,” said Dr. Jackson in the 1972 issue w of The Dallas Morning News. “Then we got o up to 49,” he said noting the wait list. u
The Life of An Endowment
ED COX/BBA SCHOLARS
hen referring to the esteemed men and women who so generously give time and resources to the Cox School, Dean Niemi says, “If you’ve said ‘thank you’ a dozen times, it’s still not enough.” Truer words cannot be said for our namesake, Edwin L. Cox, who has provided SMU with steadfast support — in time, talent, leadership and resources — for more than 50 years. He is a constant presence and an inspiration to all. When he recently attended the Cox School’s celebration for the full-time MBA program’s unprecedented #12 ranking by Bloomberg Businessweek, he looked across the audience full of students and beamed, “I am literally busting with pride!” The students returned thanks with thunderous applause. Understanding that a great business school is ultimately measured by the strength of its students, Cox believes there is no better time to recruit the best and the brightest than during their freshman year. Hence, the BBA Scholars program was established in 2002. The program invites 100 outstanding business students each year from the ﬁrstyear BBA applicant pool based on exemplary test scores, grades and their potential to succeed in the business school. While most business students must wait until their junior year to join the Cox School, BBA Scholars have access to career path, mentorship and leadership and communication programs at Cox during their ﬁrst year. “I feel like being a BBA Scholar gave me a big advantage over the other freshmen
Dean Niemi, Ed Cox, John Tolleson and SMU President R. Gerald Turner
waiting to get into Cox because I was less stressed about making certain grades to get in and more focused on exploring the different majors, organizations and opportunities Cox had to offer,” explained Santiago Núñez (BBA ’09). In 2008, Ed Cox put his money where his heart was once again by making a $5 million challenge grant to support endowed merit-based undergraduate scholarships for the BBA Scholars program, with a threeyear goal of reaching $10 million endowed. The scholarships enhance the school’s ability to recruit students who may not have otherwise applied to SMU. “The scholarship
lowered the cost of my education and more competitively positioned Cox on the list of schools I was considering,” added Núñez. Since 2008, Cox’s challenge has been met and surpassed. John Tolleson, chair of the Cox Executive Board, immediately gave $1 million toward the effort when it was announced. Additional gifts from the estate of E. Marvin Collins (BBA ’54 and JD ’59), Pat Bolin (BA ’73) and Tucker Bridwell (BBA ’73, MBA ’74) quickly came in. Carl Sewell (BBA ’66), Joe Chat Sumner (BBA ’55), Kim and Derek Dewan, Matthew Johnson (BBA ’07, MSA ’08), Steven Lindley (BBA ’74), Cary Maguire, Holly and Michael Spring 2011
McCloskey, Linda and Kenneth (BBA ’72) Morris, Alice and Erle (JD ’65) Nye, Hedy and Ronald Rittenmeyer, Margaret and Robert Rogers, the Gay D. and William F. Scott Family Foundation and Michael G. Smith (BBA ’66, MBA ’67) have also added signiﬁcant gifts to the scholarship fund, thus enabling many more talented freshmen to get into the exclusive program. All thanks to Mr. Cox’s vision and his ability to elicit support from other generous like-minded donors.
Eizabeth Adams (BBA ’06)
“The BBA Scholars program was one of the signiﬁcant factors that solidiﬁed my decision to attend SMU,” Elizabeth Adams (BBA ’06) explained. “I loved being a student at Cox and I’m proud of the degrees I received from SMU. I was able to get two internships as well as accept a full-time offer of employment before graduation.” The BBA Scholars are a special group of students. And while one “thank you” seems insufﬁcient, there are more than 1,000 BBA
Scholar alumni out in the work force today who are also thanking these donors — not only for their wonderful contributions, but also for their inspiration. As Dave Gmoser (BBA ’07) graciously concluded, “Simply put, ‘thank you.’ Their generosity has helped dozens of students like myself ﬁnancially, academically and professionally. Mr. Cox’s contributions will be an inspiration for all students and alumni for decades to come.”
Santiago Núñez (BBA ’09)
Johanna Raad (BSE ’07), David Gmoser (BBA ’07) and Amy Nguyen (BBA ’07)
Dean Niemi, Ed Cox and SMU President R. Gerald Turner
In April, SMU reaches an important milestone marking the 100-year anniversary of its founding in 2011. To honor the signiﬁcance of the university’s historic achievements and its growing international prominence in teaching, research and service, SMU announces The Second Century Celebration. The ﬁve-year Celebration will consist of a series of events and activities designed to welcome alumni back to campus, including Founders’ Day on April 15, 2011, and special centennial reunions during the next ﬁve homecoming weekends. To learn more about centennial events, news and alumni gatherings, visit www.smu.edu/100. The leadership and vision that shaped SMU’s ﬁrst century has positioned the university to achieve even greater accomplishments as it moves into the next 100 years. SMU Unbridled: The Second Century Campaign is the largest fundraising initiative in the university’s history, and it seeks to secure support for three key areas: student quality, faculty and academic excellence and campus experience. The generous contributions of donors toward these priorities will help deﬁne SMU’s second century as a top-tier university. SMU and the Cox School of Business thank all who have participated in or plan to contribute to this campaign. As of February 25, 2011, SMU has made signiﬁcant progress toward its three campaign goals. To learn more about how your gift can continue this momentum, please contact the Cox Development Ofﬁce at 214.768.3074.
Campaign Yearly Alumni Participation Goal: 25% per year
Campaign Cumulative Alumni Participation Goal: 50% by 2015
Campaign Financial Goal: $750 million
$500,000,000 $400,000,000 $300,000,000 $200,000,000
$100,000,000 $0 Jan '06
Billie Williamson-Forrester (BBA ’74) has been a loyal and involved Mustang since day one. As
a Cox accounting student, Forrester excelled in the classroom and beyond citing one of her most cherished involvements as being the student body treasurer. Even as an undergraduate, Forrester strived to make a positive difference on campus. “I had the opportunity to work with wonderful people and engage with faculty. When you work with good people who propose good solutions, you can see great things accomplished,” says Forrester. Thanks to generous supporters like Forrester, great things continue to be accomplished in Cox. With the creation of the Billie Ida – Ernst & Young Scholarship Endowment, the future of the Cox Master of Science in Accounting (MSA) program is brighter than ever. Forrester’s deep passion for helping women launch successful business careers spurred the creation of this endowment which will provide assistance to female accounting students who wish to complete the MSA program at SMU. This additional education is crucial to an individual’s success in the accounting ﬁeld, but due to ﬁnancial constraints, some students may not be able to continue at SMU for a ﬁfth year, says Forrester. This endowment will now help make it possible for welldeserving students. Forrester, who is a senior partner with Ernst & Young Dallas and oversees Americas Inclusiveness, speaks highly of her time at SMU and credits much of her professional success to the education she received from the Cox School of Business. “Creating this endowment is a way for me to pay it forward,” says Forrester. “SMU attracts outstanding students who go on to make a great impact on the business community; in fact Ernst & Young has hired tremendous talent from Cox over the years. It is exciting and an honor to help young people complete their education and launch successful careers,” adds Forrester. Aside from the endowment, Forrester has made a profound impact on the university and our students. As a current member of the Cox School of Business Campaign Steering Committee and the Tate Lecture Board, Forrester has played an integral role in molding the future of SMU, and her leadership has been instrumental in helping Cox achieve signiﬁcant fundraising goals that have propelled the school in prominence and rank. “I loved my time at SMU and made wonderful friends. It is a privilege to contribute to what SMU can be for the future and to help students,” says Forrester.
Edwin L. Cox School of Business
Executive Board Chairman of the Board Mr. John C. Tolleson
Mr. David E. Alexander Vice Chair and Southwest Area Managing Partner Ernst & Young LLP Mr. Gerald B. Alley President Con-Real, Inc. Mr. Victor D. Almeida President and CEO Interceramic Mr. F. Thaddeus Arroyo Chief Information Ofﬁcer AT&T Ms. Marilyn Augur Chairman Marilyn Augur Enterprises Mr. Norman P. Bagwell Chairman and CEO Bank of Texas, N.A. Mr. C. Fred Ball, Jr. Senior Chair of the Board Bank of Texas, N.A. Mr. George L. Ball Chairman Sanders Morris Harris Group, Inc. Mr. J. Gabriel Barbier-Mueller Chairman & CEO Harwood International Mr. Raymond A. Basye, Jr. Sewell Cadillac Dallas Mr. James F. Berry President Lockheed Martin Missiles and Fire Control Mr. Albert C. Black, Jr. President and CEO On-Target Supplies & Logistics, Ltd. Ms. Jan Hart Black Managing Director Black Muncy Davis and Associates Mr. Raymond A. Blanchette President & CEO Ignite Restaurant Group Mr. William A. Blase, Jr. Senior Executive Vice PresidentHuman Resources AT&T Inc. Mr. Tony Boghetich Owner & CEO Omar B. Milligan Enterprises Mr. Pat S. Bolin President Eagle Oil & Gas Company Ms. Julie Ann Brice Founder and Former Owner I Can’t Believe It’s Yogurt, Inc. Mr. Tucker S. Bridwell President Mansefeldt Investment Corporation Mr. Bradley Brookshire Chairman Brookshire Grocery Company Mr. Peter D. Brundage Managing Director Goldman Sachs Mr. Donald J. Carty Chairman Virgin America Mr. Felix Chen President and CEO PAJ Inc. Mr. Greg T. Clifton, ChFC, CFP President Clifton Capital Partners, Inc. Mr. Richard H. Collins Chairman and CEO Richard Collins Enterprises
Mr. Gus Comiskey Senior Vice President & Managing Director Clark Consulting Mr. Dan W. Cook, III Senior Advisor MHT Partners Mr. William R. Cooper Chairman Paragon Group Mr. Edwin L. Cox Chairman and CEO Edwin L. Cox Company Mr. Gary T. Crum President CFP Foundation Mr. William A. Custard President and CEO Dallas Production, Inc. Mr. Terry R. Dallas Executive Vice President & Managing Director, Wells Fargo U.S. Corporate Banking Mr. Richard L. Davis CEO DAVACO Mr. Joseph M. DePinto President & CEO 7-Eleven, Inc. Mr. Derek E. Dewan Chairman MPS Group, Inc. Mr. Frank M. Dunlevy Vice Chairman, Managing Director Cowen & Company, LLC Mr. Juan Elek Co-Chairman Elek, Moreno Valle y Asociados Mr. Bryant R. Fisher Retired Senior Vice President Federated Mr. Martin L. Flanagan President and CEO INVESCO Ms. Lisa A. Gardner President & CEO OMS Strategic Advisors, LLC Mr. James F. Geiger CEO Cbeyond Mr. William W. George Dr. James R. Gibbs Chairman, President and CEO Frontier Oil Corporation Mr. David L. Gonzales Chairman and CEO David L. Gonzales and Associates, LLC Mr. Norman Green Founder and Former Owner Dallas Stars Hockey Mr. Charles L. Gummer President and CEO Comerica Bank-Texas Market Ms. Linda W. Hart Vice Chairman & CEO Hart Group, Inc. Mr. Brad K. Heppner Chairman & CEO Heritage Highland Finance & Management Services Mr. James M. Hoak Chairman Hoak Media Corporation Mr. Denny Holman Chairman of the Board Folsom Properties, Inc. Mr. Thomas W. Horton President AMR Corporation and American Airlines
Mr. Kevin C. Howe Managing Partner Mercury Ventures Mr. Clark K. Hunt Chairman Kansas City Chiefs Mr. Douglas E. Hutt Community Bancorp, LLC Mr. Mark M. Jacobs President & CEO RRI Energy, Inc. Mr. Thomas W. Jasper Managing Partner Manursing Partners, LLC Mr. Hugh W. Jones President and CEO Travelocity Global Mr. David K. Kao Managing Partner Advantage Resources Group Mr. James W. Keyes Chairman & CEO Blockbuster, Inc. Mr. Lawrence Lacerte President Exponent Technologies Ms. Nancy Loewe Mr. Paul B. Loyd, Jr. Mr. D. Scott Luttrell CEO LCM Group Dr. Bobby B. Lyle Chairman, President & CEO Lyco Holdings Incorporated Mr. James H. MacNaughton MacNaughton & Associates Mr. Cary M. Maguire President & CEO Maguire Oil Company Mr. Ken Malcolmson Regional CEO, West Central Region Humana Ms. Ti Adelaide Martin President Commander’s Palace Mr. Michael F. McGehee CEO Wilmac Companies, LLC Mr. Michael A. Merriman President & CEO Financial Holding Corporation Mr. David B. Miller Managing Director EnCap Investments, LLC Mr. Tyree B. Miller President A.G. Hill Partners, LLC Mr. Roger Nanney Vice Chairman Deloitte LLP Mr. Erle A. Nye Chairman Emeritus TXU Corp. Mr. P. Scott Ozanus Vice Chairman - Tax KPMG LLP Ms. Patricia Patterson President Patterson Investments Dr. Sheron Patterson Senior Pastor Highland Hills United Methodist Church Mr. Randal L. Perkins Private Investor Private Advisory Group Mr. John C. Phelan Managing Principal and Co-Founder MSD Capital, L.P.
Mr. Charles Pistor Retired Vice Chair Southern Methodist University Ms. Melissa M. Reiff President The Container Store Mr. Rick Richards Senior Vice President Hunt Global Resources, Inc. Mr. Ronald H. Ridlehuber Chairman First Choice Network, LLC Mr. Ronald A. Rittenmeyer Former Chairman, President & CEO EDS Mr. Robert D. Rogers Chairman of the Board Texas Industries, Inc. Mr. Philip J. Romano Owner Romano Concepts, Ltd. Mr. James J. Saccacio CEO RealtyTrac, Inc. Mr. Robert J. Schlegel Chairman Pavestone Company Mr. Jeffrey R. Schmid Chairman and CEO Mutual of Omaha Bank Mr. Mark W. Schortman Vice President and General Manager Coca-Cola Enterprises Mr. John M. Scott, III President & CEO Rosewood Hotels & Resorts Mr. Carl Sewell Chairman Sewell Automotive Companies Mr. Michael G. Smith Private Investments Mr. Richard K. Templeton President, CEO and Director Texas Instruments Inc. Mr. Guy R. Thomas Retired Vice President U.S. Sales Operations Coca-Cola Enterprises Mr. John C. Tolleson Chairman & CEO Tolleson Wealth Management Mr. Scott B. Walker President Downstream Capital, LLC Mr. Garry Weber Chairman of the Board Weber Financial, Inc. Ms. Julia C. Wellborn Executive Vice President, Wealth Management, Executive Director Comerica Bank Mr. William M. Wheless, III President Wheless Properties Mr. Robert A. Wilson Executive Vice President Kemmons-Wilson Companies Mr. Charles J. Wyly, Jr. Ms. Trea C. Yip CEO TY Commercial Group, Inc.
C O X C O N TA C T U S
Important Numbers for
Cox Alumni & Friends Dean’s Tailgate On the Boulevard prior to the SMU vs. TCU football game
Alumni reception in Mexico City, Eduard Pizzuto (MBA ’98) and Abby Sadia (MBA ’01)
ACADEMIC DEPARTMENT CHAIRS Accounting: Hemang Desai ................................................................................214.768.3185 Finance: Bill Maxwell ..........................................................................................214.768.4150 Information Technology and Operations Management: John Semple............214.768.2546 Management and Organizations: Don VandeWalle .........................................214.768.1239 Marketing: Raj Sethuraman ...............................................................................214.768.3403 Real Estate/Insurance/Business Law: Bill Brueggeman ......................................214.768.3182 Strategy and Entrepreneurship: Gordon Walker ..............................................214.768.2191 ALUMNI AND EXTERNAL RELATIONS Assistant Dean of External Relations and Executive Director of the Cox Alumni Association: Kevin Knox .............................................................214.768.8338 BBA PROGRAM Associate Dean: Gary Moskowitz .......................................................................214.768.1575 BUSINESS INFORMATION CENTER Director: Sandy Miller .........................................................................................214.768.4113 CENTERS AND INSTITUTES Caruth Institute for Entrepreneurship ...............................................................214.768.3689 EnCap Investments & LCM Group Alternative Asset Management Center .....214.768.3828 JCPenney Center for Retail Excellence ...............................................................214.768.3943 KPMG Institute for Corporate Governance .......................................................214.768.3053 Maguire Energy Institute ....................................................................................214.768.3692 William J. O’Neil Center for Global Markets and Freedom ..............................214.768.3251 CERTIFICATE PROGRAMS Business Intelligence Graduate Certificate Program.........................................214.768.1246 Entrepreneurship Certificate Program...............................................................214.768.3689 Graduate Finance Certificate Program ..............................................................214.768.4155 Graduate Marketing Certificate Program .........................................................214.768.2679 DEAN’S OFFICE Dean: Albert W. Niemi, Jr. ..................................................................................214.768.3012 DEVELOPMENT AND MAJOR GIFTS Director: Laran O’Neill ........................................................................................214.768.4988 EXECUTIVE EDUCATION Associate Dean: Frank Lloyd ...............................................................................214.768.3191 GRADUATE PROGRAMS Associate Dean: Marci Armstrong ......................................................................214.768.4486 MARKETING AND COMMUNICATIONS Assistant Dean: Lynda Oliver ..............................................................................214.768.3678 MBA BUSINESS LEADERSHIP CENTER/BBA LEADERSHIP INSTITUTE Director: Paula (Hill) Strasser ..............................................................................214.768.3104 MBA CAREER MANAGEMENT CENTER ..................................................................214.768.6227 MBA GLOBAL PROGRAMS Assistant Dean: Linda Kao ..................................................................................214.768.4754 SOUTHWESTERN GRADUATE SCHOOL OF BANKING President and CEO: Scott MacDonald ................................................................214.768.2995 SPEAKER SERIES Bank of Texas Business Leaders Spotlight Series ...............................................214.768.3030 Ernst & Young Management Briefing Series .....................................................214.768.4266 L. Frank Pitts Oil and Gas Lecture Series ............................................................214.768.3692 Southwest Venture Forum ..................................................................................214.768.3689
COXCALENDAR OF EVENTS
Cox MBA Track Team at the Boston College MBA Fun Run Boston College, Boston, MA Contact: email@example.com
April 15-17 3
SMU Founders’ Day Weekend Activities include a centennial celebration commemorating the 100th anniversary of the founding of SMU, receptions, tours and more. Visit www.smu.edu/100 for complete schedule.
Cox MBA Rugby Club at the World MBA Rugby Championships at Duke University Duke University, Durham, NC Contact: firstname.lastname@example.org
Golf for Cox Tournament 11:30 a.m. check-in Cowboys Golf Club Alumni, Friends, Corporate Sponsors Welcome Contact: email@example.com
Cox Distinguished Alumni and Outstanding Young Alumni Awards Luncheon 11:00 a.m. reception, noon luncheon Collins Center Contact: Ann Faison, 214.768.3030 firstname.lastname@example.org
1– Chuck Greenberg, former owner of the Texas Rangers Baseball Club, spoke at the Business Leadership Spotlight, sponsored by Bank of Texas.
2– Gurcharan Das, noted author and former CEO of Proctor and Gamble-India, was the keynote speaker at the Management Briefing Series, sponsored by Ernst & Young. 3– Doug Foshee, president and CEO of El Paso Energy, served as the keynote speaker at the Frank Pitts Lecture Series. 4– Jim Moroney, publisher of The Dallas Morning News, spoke at the Management Briefing Series, sponsored by Ernst & Young. Pictured here: Jim Moroney with his daughter, Meagan, and Charlotte Runco of the Richards Group. 5– Ray Hunt, CEO of Hunt Consolidated, was the keynote speaker for the Business Leaders Spotlight, sponsored by Bank of Texas. Pictured here: Ray Hunt and SMU President R. Gerald Turner.
SMU Cox Graduation Moody Coliseum
For information about upcoming eventss go to www.smucoxalumni.com..
Cox Alumni Association
Board of Directors Assistant Dean Kevin Knox
SMU vs Navy – Chuck Paul, Paul Divis, Freddie Akers, Mike House
SMU Homecoming – Trent Corcia and Family
Mexico City – Jose Castro, Kevin Knox, Daniela Del Valle, Lynda Oliver
James Alvetro Clark Bacon Dennis Cail Trey Chappell Paul Collins Richard de Garis Paul Divis *** Jeff Dyer Victoria Eavenson Dan Einhorn Gonzalo Escamez Sada Mark Galyardt Angela Gieras Dan Goe John Goodrum Brooke Green Paul Henderson Jono Hiemenz Kevin Hight Mark Holoman Tessa Hoskin A. J. Hu Taruna Jain Chris Jones Pam Hoyerman Kemper Keith Knox Dave Manges Ashley Wilson McClellan Lauren McDonald ** Frank McGrew Mike Miers Aakash Moondhra Phil Moran Rhonda Murphy Fabio Okamoto Carlton O’Neal Kylie Wood Owens Patrick Panko Bruce Parkerson Kyle Perkins Matt Peakes Dan Porth Evan Radler Chris Reilly Wayne Richard David Rouse Allen Shank Javier Silvera Cristine Struble Matthew Struble Arun Subramanian Katy Thomas Laura Till David Visinsky Catherine Walts Mark Warner David Wesson Chris Wilson Jiang Wu Liz Youngblood ** Chair
Phoenix – Trey and Shannon Chappell
*** Vice Chair
MBA ’99 BBA ’04 EMBA ’06 BBA ’00 MBA ’03 MBA ’06 EMBA ’99 MBA ’03 MBA ’99 MBA ’02 MBA ’90 MBA ’88 MA/MBA ’03 MBA ’99 BBA ’05 MBA ’99 PMBA ’94 BBA ’09 MBA ’99 MBA ’03 EMBA ’09 MBA ’01 MBA ’01 PMBA ’00 BBA ’79 MBA ’98 PMBA ’07 BBA ’04 MBA ’82 BBA ’90 MBA ’98 MBA ’03 MBA ’87 MBA ’98 MBA ’95 PMBA ’87, JD ’91 BBA ’06 PMBA ’01 BBA ’79, JD ’82 BBA ’09 MBA ’07 BBA ’69, MBA ’71 BBA ’05, PMBA ’10 PMBA ’01 BBA ’80 PMBA ’95 BBA ’02, MSA ’03 MBA ’07 BBA ’96 PMBA ’00 MBA ’01 BBA ’07 BBA ’82 BBA ’98 BBA ’99 MBA ’95 EMBA ’04 BBA ’03 MBA ’00 EMBA ’05
Sydney, Australia Los Angeles, CA Dallas, TX Phoenix, AZ Summit, NJ Miami, FL Washington, DC Ft. Worth, TX London, Eng Milwaukee, WI Santiago, Mexico Atlanta, GA Jacksonville, FL Denver, CO Houston, TX San Francisco, CA Sunnyvale, CA St. Louis, MO Austin, TX Charlotte, NC Dallas, TX Shanghai, China Houston, TX Houston, TX Boston, MA Dallas, TX Dallas, TX Dallas, TX Little Rock, AR Nashville, TN Tulsa, OK New Delhi, India Houston, TX St. Louis, MO Sao Paolo, Brazil La Jolla, CA Kansas City, MO Kansas City, MO New Orleans, LA La Jolla, CA Dallas, TX Scottsdale, AZ Houston, TX San Antonio, TX Dallas, TX Dallas, TX Dallas, TX Hong Kong, China Chicago, IL Chicago, IL Bangalore, India New York, NY Albany, NY Memphis, TN Atlanta, GA Austin, TX Bryan, TX Oklahoma City, OK Beijing, China Plano, TX
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1. July 20: The Cox School, in conjunction with the Hay Group, produced an interesting panel and discussion about the world’s most admired companies, titled, “Hitting the Ground Running.” Shown here: moderator Mark Royal, senior consultant of Hay Group and his panel, Corey Anthony, senior vice president-HR of AT&T and Shawn Williams, vice president-HR of Hewlett-Packard, HP Enterprise Services. 2. August 13: Dean Niemi hosted a graduation
reception in the Collins Center for the Cox Professional MBAs. Shown here: Emily Wyman, Mr. and Mrs. Wyman, Hunter Wyman and new Cox alumnus, Spencer Wyman (PMBA ’10).
3. August 13: Also joining the graduation 3
reception as new Cox alumni: Will Messer with his wife, Brooke Messer; Mark Luigs and Jeffrey Schar.
4. August 26: Cox faculty and staff gathered
in the dean’s parlor to express their best wishes for Stephanie Dupaul as she began her transition from Cox BBA admissions director to dean of admissions for SMU. Pictured here: Jill Branson, admissions coordinator, Stephanie Dupaul, Dean Niemi, Gary Moskowitz, associate dean, and Jim Bryan, director of BBA admissions.
5. August 29-31: As part of the Cox School’s trip to Mexico City, the group had an information table for prospective students at the World MBA Tour Conference. Shown here: Daniel Garmendia (MBA ’09), Holly Murdoch (PMBA ’09), associate director of MBA admissions and Mickey Quiñones, Cox professor of management and organizations.
6. September 11: The Dean’s Tailgates “On
the Boulevard” were special occasions prior to each SMU home football game. Pictured here enjoying the festivities prior to the SMUUAB game: Allison Pfingstag (BBA ’06), Matt Middleton (MBA ’12), Sara Kyle, Benson Falb (BBA ’05, MSA ’06). Thanks to our many food and beverage sponsors during the season: T.G.I.Friday’s, Andrews Distributing, 7-Eleven, Joe’s Crab Shack, Coca-Cola, Hotel Lumen, Corner Bakery, Central Market and Park Cities Hilton.
7. September 14-15: Dean Niemi hosted alumni 7
and prospective student/parent receptions in Milwaukee and Chicago. Shown here at the Chicago reception: Bruce Brown (EMBA ’90), Mike Smith (BBA ’66, MBA ’71), member of the Cox Executive Board, Eva Smith and Dean Niemi.
8. October 4: Dean Niemi hosted an alumni and prospective student/parent reception in Tulsa. Pictured here: co-hosts, Kristi Miers, Mike Miers (MBA ’98) and Laran O’Neill, Cox director of development.
9. October 5: Dean Niemi and Cox alumni,
Jil and Tony Bohetich hosted an alumni and prospective student/parents reception in Oklahoma City. Shown here: Scot Conner, Kittye Little, Scotie Conner, DeAnn Parham and Carpenter Parham.
10. October 6: W. Michael Cox, director of the
William J. O’Neil Center for Global Markets and Freedom, hosted the second annual conference at the Collins Center. Pictured here: John Allison, retired chairman and CEO of BB&T, taking questions from the audience after his formal presentation.
11. October 13: For the 20th year, Jerry White and the sponsors of Dallas 100™ Awards program hosted the 2010 CEO reception in the Collins Center. Shown here: Jerry White, director of the Caruth Institute for Entrepreneurship and founder of the Dallas 100™ Awards program, Matt Ruttledge, guest speaker and president of Woot, Inc., a former Dallas 100™ winner, and Kevin Knox, assistant dean of external relations, executive director of the Cox Alumni Association.
12. October 16: MBA class of 2000 reunion
co-chairs, Marianne Pohle and Fred Lehman, planned and executed an outstanding class reunion. It was well attended by many classmates, spouses and guests. Shown here: Margaret Williams and Fred Lehman.
13. October 20: The Cox Rugby Club sponsored a special lunch and invited Dean Niemi to be their guest. Pictured here: From left, back row: Mark Atkinson (MBA ’12); Michael Duda (MBA ’11); Phil Thompson (MBA ’11); Mark Landaal (MBA ’12); Ryan Orlowski (MBA ’12); Juan Seanz (JD/ MBA ’13); Clay Hosterman, SWGSB; Jordan Ramsay (MBA ’12); Ben Mimmack (MBA ’12) and Trevor Ashurst (MBA ’11). Front row: Chase Gardaphe (MBA ’12); Grant Garlock (MBA ’12); Muzamil Ahmad (MBA ’12); Dean Niemi; Michael Fuller (MBA ’11); Andrew Boyett (MBA ’12); Dillan Ealy (MBA ’11); Chad Von Doersten (MBA’11); Brandon Wilhite (MBA ’11); Vance Gonzales (JD ’12); Neil Carew (MBA ’12) and Kevin Knox, in front.
14. October 21: Dean Niemi sponsored a
special reception for all Cox BBA scholars to visit Edwin L Cox. Shown here: Andrew Fiepke, Kara White and Chase Wade with Mr. Cox.
15. October 21: Gary Crum (BBA ’69) was
awarded the Distinguished Alumnus Award by SMU. Pictured here: Ken Malcomson (BA ’74), president of the SMU Alumni Association, Mercedes Ulibarri (BBA ’11), Gary Crum and R. Gerald Turner, president of SMU.
16. October 25: Dean Niemi hosted a special
lunch for Jody Grant (BBA ’60). Grant visited campus to pick up his Cox Distinguished Alumni Award which had been presented to him earlier. Shown here: Jody and Sheila Grant.
17. October 26: The Frank Pitts Lecture Series hosted a lunch to present scholarship awards to Cox BBA and MBA students and to hear guest speaker Doug Foshee, president and CEO of El Paso Energy. Shown here are scholarship winners with Bill Custard (BBA ’57)(center): Troy Vaughn, Matt Bleakley, Matthew Evans, Grant Johnson and James Alexander.
18. October 27: Kevin Knox and Jim Bryan,
director of BBA Admissions, along with Cox Alumni Board member, Trey Chappell (BBA ’00) hosted an alumni and prospective student/ parent reception in Scottsdale, Arizona. Pictured here: Lela Yu, Rayford Irvin (MBA ’99), Deborah Poulas (MBA ’06) and Andrew Hinz.
19. November 7: Kevin Knox and Jim Bryan, 19
along with Cox Board member, Chris Reilly (PMBA ’01), hosted an alumni and prospective student/parent reception in San Antonio. Shown here: Allison Hoeltzel, Phil Webb and John Carter — all alumni from the MBA class of ’01.
20. November 9-10: Dean Niemi hosted alumni
and prospective student/parent receptions in Greenville, South Carolina and Charlotte, North Carolina. In Greenville, the co-hosts were Lauren and Phil Hughes and in Charlotte, Mark Holoman (MBA ’03). Pictured here in Charlotte: Alfredo Suarez (BBA ’02), Clayton Dallas (BBA ’10), John Campbell (MBA ’01) and Kim Campbell.
21. November 12: Linda Kao, assistant dean for global programs hosted Chris Exline (BA ’87) as the keynote speaker for the Global Leadership Program kickoff event. Exline is the president and CEO for Home Essentials and lives in Hong Kong. He served as SMU student body president while in school. 22. November 16: The exclusive survey results of the SMU Cox CEO Survey were reported by Cox Professor Mickey Quiñones at a reception sponsored by DCEO magazine and SMU Cox. Gary Kelley, CEO of Southwest Airlines was named CEO of the year for the second year in a row.
23. November 17: For the 20th year in a row, the Caruth Institute for Entrepreneurship and its sponsors held the Dallas 100™ Awards at the Meyerson Symphony Center. This outstanding awards program celebrates and recognizes the fastest-growing, privately-held companies in the Dallas area. Carl Sewell (BBA ’66), former chairman of the Board of SMU Trustees and former chairman of the Cox Executive Board served as the keynote speaker. A special thanks to all of the sponsors: BKD, Carr, Chase, CresaPartners, Dallas Business Journal, EVOS, Executive Press, HSSK, Hub International, KRLD News Radio and Stewart Organization. 24. November 30: Dean Niemi hosted an alumni and prospective student/parents reception in Atlanta, Georgia. Shown here: Virginia Sullivan, Raymond Singletary (BBA ’06), Stephen Collier (BBA ’04) and Christina Sgier.
25. December 8: Beta Gamma Sigma Honor
Business Fraternity held its annual luncheon to recognize new members. Pictured here are the newly inducted members: Yu Wei Le (MSA ’10), William Messer, Narinder Budhiraja, David Schmidt, Brian Herndon, Lindsey Krampe, Katie Nestlerode, Kamal Manik, Mathew Stoltzfus and Dorothy Wan — all MBA ’10.
26. December 9: Deani Niemi and Cox professors
shared their economic forecasts with the media at the third annual media breakfast panel. Representatives from the media included the Dallas Business Journal, The Dallas Morning News, Financial Times, WFAA Channel 8 and KDFW Fox 4.
27. December 10: The Cox Alumni Association and the Salvation Army held its annual holiday reception and lunch. All attendees were encouraged to donate children’s gifts to the Salvation Army. Shown here: Kevin Knox, Linda Kao and Donnie Freeman with the Salvation Army.
28. December 18: Dean Niemi hosted a reception for new Cox graduates who participated in December graduation. Pictured here: Katie Nestlerode and her family. 29. December 30: The JCPenney Center for Retail
Excellence hosted a tailgate prior to the Armed Forces Bowl, where SMU played Army. Shown here: Clifton, Vicki and Phil (MBA ’87) Moran.
30. January 8: Dean Niemi, along with SMU
parents Randy Perkins and Leslie Bowen, hosted a reception for alumni, prospective students and parents at the Grand Del Mar in San Diego, California. Pictured here: Dean Niemi making remarks at the reception.
31. January 9: Dean Niemi, along with Dana
and Seth Hall (MBA ’96) hosted a reception for alumni, prospective students and parents at Pelican Hill in Newport Beach, California. Shown here: Stuart Palley (BBA ’11), Lauren Palley, Rennick Palley (BS ’13) and Seth Hall.
32. January 25: Dean Niemi hosted a reception for alumni, prospective students and parents in Coral Gables, Florida. Pictured here: Amanda and Stephen Brough (BBA ’96). 33. January 26: Dean Niemi, along with SMU parents Holly and Michael McCloskey, hosted a reception for alumni, prospective students and parents in Palm Beach, Florida. Shown here: Tim Moore, SMU’s Office of Development and Michael McCloskey.
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