Winter Currency 2021 | College of Business

ED ENC L OS AL PPE LA

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COLLEGE OF BUSINESS IN REVIEW:

2 0 21 W IN T E R HIGHL IGH T S OF A C T I V I T IE S, P R OGR A M S, A ND IN S P IR AT ION S

CURRENCY

02 DEAN MOORADIAN

Sharing his vision for growth and optimism for the future

04 DISTINGUISHED ALUMNI

Jim Shircliff receives the Alumni Fellow Award

06 STUDENT SUPERHEROES

Pablo Hernandez and Matthew Brown are student entrepreneurs

08 INSPIRING FACULTY & STAFF Meet the latest recipients of our Cardinal Spirit Award

14 EQUINE CERTIFICATE

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Pablo Hernandez

Class of 2021

The Equine Industry Program offers its first ever Equine Investigator Certificate

23 RESEARCH ROUNDUP WINTER, 2021

Business.louisville.edu

DEAN MOORADIAN

Todd Mooradian, PhD, Dean, UofL College of Business

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DEAN

TODDA.MOORADIAN The holiday season is upon us, and as we reach the appointed hour, we feel the pull from our family, friends, and loved ones calling us home. These gatherings may look a little different this year than normal circumstances, but what has not and will not change is our capacity to celebrate, share, and reflect on this year.

Be it a phone call, a Zoom session, or seated around the dining room table, how we spend this holiday season reminds us how truly alike we are. The differences between traditions and customs are not barriers to understanding but are, in fact, the very ties that bind us together.

From Christmas to Kwanza to Chanukah to the coming New Year, we are in a season of communal spirit. It is that sense of community that will allow us all to emerge better.

As I reflect on a year like no other, I appreciate your resilience and your optimism. I am proud of our faculty and staff’s strides to accommodate and support our students. It’s our charge to keep our classes engaged and motivated. We have an incredible caring and giving culture, paced by a wonderful staff and a wonderful faculty. We go above and beyond every day at the College of Business. Those efforts are reflected in the success of our students such as The Secure Mask cofounders Pablo Hernandez and Matthew Brown. Our work is further championed by alums such as the 2020 Alumni Fellow Jim Shircliff. We celebrate both sides of this coin in the pages of Currency.

We continue to build upon our successes and learn from our challenges. We are finding ways

to make investments, enhancing the student experience. We are investing in technology as well as our faculty’s ability to teach online. We are making improvements in our facility — all with a commitment to make the College a great place to learn, work, and grow as a community.

Those developments include providing opportunities for our graduate students, such as offering internships and assistantships within the College. It also means collaborating with industry partners to offer scholarships such as the Kentucky Distillers’ Association Lifting Spirits Scholar program. Building bridges and more extensive networks for all students means increased prosperity for all.

Throughout this issue, you will see highlights of these investments. I hope it gives you an insight into your contribution to this virtuous cycle.

While the future may be unwritten, we all have a hand in how the College’s story is told. I hope that you’ll consider joining our effort by making a gift to our annual fund.

I hope you all take time to celebrate the successes of the year, reflect on what has been learned, and allow the charity of the season to propel us all into 2021.

Best, Todd Mooradian

Dean, University of Louisville College of Business

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DISTINGUISHED ALUMNI

2020 COLLEGE OF BUSINESS ALUMNI FELLOW

JIMSHIRCLIFF “Jim Shircliff is the best the University of

Louisville has to offer the world,” says Dean Tood Mooradian, PhD. “Humble, hard-working, brilliant, a true entrepreneur, and somebody who greets everyone with a genuine smile and concern for who they are and where they are going. We are so proud to make Jim Shircliff our Alumni Fellow.”

James C. (Jim) Shircliff received his Bachelor of Science in Business Administration in Finance from the University of Louisville in 1972. He earned the Chartered Financial Analyst designation in 1978 and is a member of the CFA Institute and CFA Society Louisville.

Shircliff serves as portfolio manager for River Road Asset Management’s Small Cap Value and Small-Mid Cap Value Portfolios. Prior to co-founding River Road in 2005, Shircliff served as executive vice president, portfolio manager, and director of research for SMC Capital Inc. He began his career in 1973 as research analyst for First Kentucky Trust, where he later served as director of research.

In 1983, he joined Oppenheimer Management Co. as special situations analyst and later, Oppenheimer’s Target Fund as portfolio

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manager. In 1986, Shircliff joined Southeastern Asset Management as partner, portfolio manager, and director of research. In 1997, he joined SMC, where he launched River Road’s Small Cap Value and Dividend All-Cap Value Portfolios.

Shircliff has served on the University of Louisville College of Business Board of Advisors and has volunteered with the College of Business for more than two decades.

Additionally, he has been involved with horse racing since the mid-1970s and is a partner in Skychai Racing. He is also a partner in Starlight Racing, which had an interest in Triple Crown Winner JUSTIFY and the winner of the 146th Kentucky Derby, AUTHENTIC. Shircliff’s wife, Beverly, is also an alumna of the University of Louisville College of Business. Jim and Beverly have two daughters, Cathleen and Susan. Cathleen graduated from the University of Louisville with a Masters in Public Administration.

“I switched over [to the College of Business] and it was the best decision I ever made…” says Shircliff. “What does this award mean to me?

It’s hard to put into words, but humbled comes to mind. I’ve been so lucky.”

“JIM SHIRCLIFF IS THE BEST THE UNIVERSITY HAS TO OFFER THE WORLD.” –Todd A. Mooradian Dean, College of Business

Jim Shircliff Finance ‘72 2020 Alumni Fellow

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Pablo Hernandez & Matthew Brown College of Business, Class of 2021

SECURINGACOMMUNITY The most successful entrepreneurs will always point to their capacity to recognize opportunity as a fundamental element of their success. Founded by College of Business undergrads Pablo Hernandez and Matthew Brown, The Secure Mask company was founded to meet the public demand for comfortable, reusable face masks in the wake of COVID-19. But it can’t just be an opportunity—it’s a culmination of preparedness, resources, and connecting the dots which moves opportunity into success.

“I always had an entrepreneurial spirit, which I believe comes from my parents,” says Hernandez, a senior marketing major. He has tested the entrepreneurial waters with several ventures during his time at UofL, including photography and owning a coffee roaster, Herns Coffee. Hernandez’s parents have been involved in textiles and manufacturing—a direct connection that helped to jumpstart The Secure Mask.

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Matthew Brown’s passion for finance and investment has helped to give the duo a solid fiscal foundation. Like Hernandez, Brown has already built a successful enterprise—he has been a ticket broker since 2016. “Building my ticket brokerage allowed me to learn how to interact with both business-to-business clients and business to consumers. It also taught me the importance of cash flow and managing inventory.”

That inventory management currently occupies much of Pablo’s apartment. “We ship everything out from my apartment. There are boxes everywhere.”

Ramping up inventory has gone hand-in-hand with an increase in demand. Initially, mask orders were from the Louisville metro area.

“When we first started selling the masks, I used to spend part of the day delivering them in my car,” says Hernandez. “But that all changed when we started doing ads on television.”

STUDENT SUPERHEROES Brown and Hernandez began working with a local media company when they were interviewed by a television station in Philadelphia, PA. “After that [interview], we started getting orders from all over.

Pablo was on the phone with a repeat customer from LA last night. Folks call at all hours about orders,” said Brown. The local media company has also helped place television spots for the duo in various markets beyond the midwest.

The increased profile means increasing the team. The Secure Mask has between six to ten parttime employees, many of them also UofL undergrads. “Being an intern at the College of Business taught me a lot about working with people,” says Hernandez. “Working directly with Sharon Handy and the marketing team helped me understand the importance of project management and teamwork.”

to them outside of the classroom and know that if I had any questions about anything, I could come to them. They are more mentors than professors.”

While Hernandez and Brown saw a business opportunity, The Secure Mask company understands it is much more than just making masks. “They [Pablo’s parents] have started multiple businesses, and seeing how they do business always called my attention.” That sense of doing business right includes supporting the most vulnerable in the community. The Secure Mask website features a section that allows people facing medical or financial hardship to receive a free mask.

“WE SHIP EVERYTHING OUT FROM MY APARTMENT. THERE ARE BOXES EVERYWHERE.”

Brown also attributes their venture’s success to his time at the College. “I’ve met a lot of people [who] work or know people in different sectors of the economy. My professors have helped show me what a real workplace looks like.” Hernandez agreed, adding, “They have always been more than just professors. I will talk

Matthew Brown delivering The Secure Mask.

The Secure Mask’s cofounders continue to strike a balance between work, school, and life.

“As we begin to scale, gaining –Pablo Hernandez access to capital will be a big challenge. The Secure Mask has to keep a lot of inventory on hand, so we have to have a lot of capital to invest in inventory and run the day to day operations,” says Matthew. “There’s a lot to learn both in and out of the classroom.”

Learn more: TheSecureMask.com

The Secure Mask team working from Pablo Hernandez’s home.

INSPIRING FACULTY & STAFF FALL 2020 CARDINAL SPIRIT AWARD

SPIRITOFCONNECTIVITY The Cardinal Spirit Awards recognize the impact that the people of the College of Business have on making this a great place to work. The award winners exude positivity, elevate others, care deeply, and “get it done.”

For many of us, the shift from office to remote work meant adjusting not only how we do our job but how we interact with one another. For Thomas Teague, that transition directly impacted his productivity. “I’m fueled by engaging with others,” says Thomas. “When I work with people, it jumpstarts my passion for what I do.” Staying connected in the face of a new work dynamic was not just a matter of productivity. It was essential to his well-being, both on a professional and personal level. “If I’m feeling this way, I’m sure that others [in the College] are also feeling it, too.”

Thomas has been instrumental in helping the College stay connected in the virtual workplace by providing opportunities to elevate, celebrate, and support our community.

This spirit of connectedness and compassion, which resonates with Thomas, has made him a foundational part of the College of Business and the staff selection for this fall’s Cardinal Spirit Award. He was honored in October alongside faculty selection Jose Fernandez, PhD.

THOMAS TEAGUE “One of the Cardinal Principles is for us to be a Community of Care. The 2020 Fall Cardinal Spirit Awards are shining examples of how members of the College of Business family show care for one another,” says Chief of Staff Joe Neary, PhD. “Thomas and Jose are what make the University of Louisville and the College of Business a great place to learn and work.”

Thomas joined the College of Business last year as a Career Coach in the Ulmer Career Management Center. Shortly after his arrival, he joined the Culture and Celebrations committee within the FUMM unit (Family Business/Ulmer/Marketing/MBA recruiting).

“When I was looking for new work, I wanted to be a part of a work environment that was empowering and where people care about one another,” says Thomas. “I’m grateful that our leadership both in the Dean’s office and within FUMM understand and value a positive work culture.” That value translated into weekly Friday coffee chats and monthly birthday/ milestone celebrations with the FUMM team.

Then came the pandemic and the challenge to reinvent connection and celebration in our virtual spaces.

Thomas Teague with Melanie Higgs and Serena Hodges 8

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“I know for myself that I need to check-in with my coworkers and the FUMM family. I need that interaction and those moments to help

Thomas Teague Career Counselor The Ulmer Career Management Center

lift us out of these times of crisis.” In response to working remotely, Thomas worked to hold these spaces open. “The coffee chat meets online now.

That’s all.”

From weekly coffee chats, Thomas began a weekly FUMM email that included articles ranging from Virtual Museum trips to professional development opportunities to cultural awareness content. “These emails help to educate and share. I would be looking and reading up on these things myself, so why not share them with my coworkers?”

staff and faculty celebrating personal and professional milestones. In many ways, these moments of recognition are genuinely at the heart of any caring community.

These small windows into each other’s lives in no small way help keep the College connected at a time when physical distance could very quickly become isolating.

“WHEN I WORK WITH PEOPLE, IT JUMPSTARTS MY PASSION FOR WHAT I DO”

What started as a unit-centric celebration ultimately became a much-needed space within College Open Forums and Staff Meetings. At each event, Thomas made sure that time was taken to recognize both

This connectivity also helps to reinforce the value of a life/ work balance. In Thomas’ case, this balance between his responsibilities at Ulmer with his own professional pursuit — he is currently working on his –Thomas Teague PhD in Higher Education from the University of Kentucky. “Both of my parents were [involved in K-12] education for over 30 years. They taught generations of UofL College of Business: 2021 Winter Highlights

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José Fernandez, PhD Associate Professor, Economics UofL College of Business

families… I’d run into folks at home, and they would talk about having my mom in class or being taught by my dad. All those years later, [my parents’ classes] were fond memories for them.” Thomas believes this keen interest in others and the capacity to positively impact others’ lives lies at the heart of what he does and how he moves through the world. These values are central to the Cardinal Spirit Award.

“Our lives are enriched by other people,” says Thomas. “When we invest in each other, we invest in ourselves.”

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Mention Thomas’s name, and several words become a steady refrain: genuine, caring, positive, leader. The number of nominations on Thomas’ behalf made his selection as the staff recipient of the fall Cardinal Spirit Award as resounding as his commitment to the College’s mission. Endemic of those nominations can be encapsulated by Ulmer Center Director, Eileen Davis. “Thomas has been instrumental in providing opportunities for connection and fellowship for College of Business staff and faculty… Thomas always elevates others, sharing

INSPIRING FACULTY & STAFF and promoting others’ successes. It was through Thomas that I learned about [COB staffer] Elijah Humble’s weekly radio shows, for example. You know when you speak with Thomas that he cares about people, and his students know it, too.

Thomas exemplifies the ‘Cardinal Spirit’ at the College of Business.”

“To be honest, receiving this award means so much to me,” says Thomas. “To think that my coworkers/work-family believe in and value my small contributions is very humbling. I also consider it not just recognition for me, but recognition for the community as a whole and the people who contribute to it/help build it.

This award symbolizes our values and our ongoing desire to make our community better than we found it. [The Cardinal Spirit] represents part of our College’s efforts to raise the collective tide of those whom it serves and reinforce/highlight goodness, especially during a time of challenge with the pandemic.”

JOSÉ FERNANDEZ

organizations. “I participate in these groups to expand the idea of what an economist can look like. We are a discipline with great influence, but we lack diversity. Relative to the other social sciences and STEM fields, we tend to have an underrepresentation of women and people of color.” In the spirit of diversifying economics departments, he has built a database of economists featuring members of historically underrepresented groups. “It is my way of giving back.”

Assistant Professor of Economics Beth Munnich was among the many who spoke to José’s capacity as a mentor and leader.

“He stepped up to be department chair at a particularly difficult time, and has embraced the challenge — finding ways to support faculty and staff and focusing on the positive impact we as faculty can have on our students this semester, and in the future. I am constantly amazed by his generosity, and he continually inspires me to be a better teacher, researcher, and colleague. He goes above and beyond the call of duty to make the COB a great place to work.”

“I AM CONSTANTLY AMAZED BY HIS GENEROSITY, AND HE CONTINUALLY INSPIRES ME TO BE A BETTER TEACHER, RESEARCHER, AND COLLEAGUE. ”

Alongside Thomas Teague, Associate Professor José Fernandez was also awarded a Cardinal Spirit Award. Dr. Fernandez was recently named chair of the Economics Department, and is serving a second term as a member of the American Economic Association Committee on the Status of Minority Groups in the Economics Profession. He is also a fellow of the Diversity Initiative for Tenure in Economics (DITE), and the former President of the Hispanic/Latino Faculty and Staff Association at the University of Louisville. He currently serves as President-elect of the American Society of Hispanic Economists (ASHE).

José understands the importance of being an active and visible member of such

“The award was truly unexpected,” says José. “I am very thankful to my colleagues for nominating me.

As the comments indicated, I want to see my colleagues and students –Beth Munnich, PhD Assistant Professor succeed. I protect my assistant College of Business professors fiercely because I want to give them every opportunity to show they are great researchers and teachers.”

As underscored by Munnich, José’s commitment to fellow faculty is evident both in deed and words. “When we hire a new professor, it is with the intent to see them succeed and reach promotion,” says José. “I want my senior faculty to be recognized for their contributions. I am generous with my time when it comes to my colleagues both here at UofL and at other institutions because that is how we build community. One of my favorite activities, while small, is sitting down and having lunch with my colleagues. I am fortunate to have such a great group of colleagues. It makes you look forward to heading into the office.”

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2021-2022

INVESTINGIN THESTUDENT EXPERIENCE The University of Louisville is a great place to INVEST because of its demonstrated impact on the economic, social, and cultural health and well-being of Louisville, the Commonwealth, and beyond. We accomplish this through innovative teaching, research, scholarship and creative activity, principled leadership, responsible stewardship, and engaged partnerships.

Your philanthropic support will enhance our capacity to be a great place to LEARN and WORK. Your investment in the College provides critical resources that we will invest in improving the student experience.

We have set an ambitious goal, aiming to raise just over $700,000 to invest directly in improving the student experience. As you consider your philanthropic giving, we hope that you will consider investing in one of the following projects: (See page 13)

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$64,000

STUDENT SUCCESS SUPPORT Student Ambassadors Program

$12,000

Living & Learning Community Support

$12,000

Student Tutoring Program

$25,000 D $15,000 FUNDE

REACH Satellite Office

$200,000

DIRECT STUDENT SUPPORT Emergency Student Aid Fund

$100,000

Recruiting and Retention Scholarships

$100,000

TECHNOLOGY ENHANCEMENTS

$234,000

Learning Glass Light Board

D $15,000 FUNDE

D $10,000 FUNDE

Recording Studio Upfit Classroom Technology Enhancements ($9,000/classroom x 15 classrooms)

$135,000

Digital Signage and Message Boards

$50,000

Virtual Class Participation Upgrade ($3,000/classroom x 8 classrooms)

$24,000

PHYSICAL SPACE ENHANCEMENTS

$230,000

ED Classroom Renovations and Upfit (3) (1) FUND

$150,000

Drummond Executive Center Renovation

$30,000

Digital Stock Ticker

$50,000

FY21 -22 INVESTMENT

$728,000

Business.Louisville.edu/give Contact: Joseph P. Neary, PhD Chief of Staff & Executive Director of Advancement UofL College of Business 502.852.4784 joseph.neary@louisville.edu

Your contribution directly impacts our capacity to champion and celebrate our best and brightest. Help us make UofL a great place to learn by attracting the best professors and research minds. We hope you will consider investing in our future business leaders and entrepreneurs.

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EQUINE INDUSTRY PROGRAM

RACINGINVESTIGATORCERTIFICATE The Equine Industry Program, in collaboration with the Association of Racing Commissioners International (ARCI), hosted the first-ever Racing Investigator Certificate Program virtually on October 5-6, 2020.

Over 100 industry professionals participated in sessions that included horse and barn safety, searches, unsanctioned racing, and pari-mutuel wagering.

Sessions were led by industry professionals including Tom Sage, Executive Director of the Nebraska Racing Commission, Ed Martin, President and CEO of ARCI, and Don Ahrens, Director of Security and Parking at Sam Houston Race Park.

Bureau (TRPB) and were placed at member tracks during live meets. The TRPB instituted controls like lip tattoos to help with racehorse identification and helped the industry move forward with a more transparent product. Over the years, race investigators have worked with track management, law enforcement, and regulatory agencies to stop race-fixing, animal abuse, money laundering, wagering scams, and more.

INVESTIGATORS… EXAMINE RULE VIOLATIONS, PERFORM INTERROGATIONS, AND CONDUCT EVIDENCE-GATHERING OPERATIONS AT RACETRACKS.

Investigators are employed by racetracks and racing commissions to examine rules violations, perform interrogations, and conduct evidence-gathering operations at racetracks. Originally, investigators were hired by the Thoroughbred Racing Protective

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The idea for a race investigator’s training program came from industry veteran, the late John Wayne. He was considered to be one of the foremost authorities on racing regulation in the United States. Wayne’s career encompassed decades of experience working as lead investigator at 28 tracks across the U.S. and Canada and culminated in him serving as the Executive Director for the Delaware Thoroughbred Racing Commission. He had

phenomenal knowledge of racing and was known for his integrity. This first training was dedicated to him.

With veteran investigators retiring before they could mentor and train younger investigators, ARCI’s leadership saw the need for better education for a new generation of investigators. ARCI’s leadership envisions the training to evolve into a full accreditation program similar to the Racing Officials Accreditation Program (ROAP) as a pathway for developing future race investigators.

The UofL Equine Industry Program also developed the Racing Officials Accreditation Program with a group of industry stakeholders. It provides accreditation and continuing education to all racing officials, stewards, and judges in the horse racing industry.

For those who attended the training, their next step is to pass an exam prior to receiving their certificate. The eventual goal is for racing commissions and racetracks to mandate that all investigators complete the Racing Investigator Certificate Program and participate in future Continuing Education sessions.

Students at the Derby For the first time in history, the 2020 Kentucky Derby was run without fans on the first Saturday in September. Two Equine students work for trainers that had horses running in the Derby.

Here is what they had to say about this unique Derby Day:

Photo credit: Corey Barbarito.

Corey Barbarito “The show must go on! And it certainly did. The running of this year’s Kentucky Derby was not only historic but also proved a point that no matter what the circumstances are, horse racing always endures. Being part of a team with a runner in the Derby is all the validation this New Orleans boy needs for knowing I made the right decision to come to Kentucky.”

Photo credit: Bee Buck/Kentucky Derby.

Isabella Leslie “Many people dream of having a horse in the Derby but never get the chance to. While 2020 brought unforeseen circumstances to the typical Derby atmosphere, the excitement when the starting gates opened and the love for the horse remained. I am incredibly blessed to have experienced the Derby for a second year with Team Casse, and with a horse who holds a special place in my heart, like Enforceable.”

Racing Officials Accreditation Program 2018, including John Wayne, 2nd from right.

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CENTER FOR FREE ENTERPRISE

OJ OLEKA & TERRANCE SULLIVAN

ECONOMICIMPACTOFRACISM College friendships are sometimes just that. They may begin and develop over the course of four years, but in the time following graduation, friends can drift apart and friendships can fade. Some relationships forged in college, however, stand the test of time. And in the case of two University of Louisville alumni who met in the College of Business, that friendship happened to lead them back to where it all began.

was peaking in Louisville. The two, who had remained close over the years since graduation, knew they needed to do something. “We needed to find a way to use our experiences and skillsets to participate in creating change,” said Terrance. So, over the course of a weekend in June, AntiRacismKY (ARKY) was born.

ARKY is a non-partisan coalition created to eliminate institutional racism through policy change. After gathering ideas and concerns from citizens throughout the state, the two decided ARKY would focus on creating meaningful reform in eight key areas: agriculture, education, economic development, housing, health care, criminal justice, wealth generation, and the workplace.

“THE FACT THAT TERRANCE AND OJ ARE USING WHAT THEY LEARNED AT UofL TO MAKE LIVES BETTER IS CERTAINLY GRATIFYING. IT’S WHY WE ARE HERE.”

Meet OJ Oleka and Terrance Sullivan. OJ graduated from the College of Business with a degree in marketing and a minor in political science. (He went on to receive his MBA and PhD in leadership and higher education from neighboring Bellarmine University). He is currently president of the Association of Independent Kentucky Colleges and Universities. Terrance graduated from UofL with a bachelor’s degree in political science, law and public policy, a minor in economics, and later earned his JD from UofL’s Brandeis School of Law. He is executive director of the Kentucky Commission on Human Rights.

The two met in a CIS100 (computer information systems) classroom, and OJ credits his friend with being the reason he was able to get a B in the class.

The rest, as they say, is history.

Fast forward to summer 2020, when social unrest

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–Steve Gohmann Director, Center for Free Enterprise

OJ and Terrance spoke about AntiRacismKY in October as part of the Center for Free Enterprise Menard Family Lecture Series.

During the virtual event “The Economic Impact of Racism,” they discussed how, although they come from different backgrounds, and are on opposite sides of the political aisle, they felt it was important to come together to create change in the community and state they call home.

Both OJ and Terrance say their undergrad days at UofL and the College of Business helped shape who they are and what they do today. “Courses like Capitalism and Economic Freedom with Professor Gohmann helped me approach issues from an economic perspective, as well as encouraged me to learn and

“UofL LIT THE FIRE THAT STILL BURNS BRIGHT WITHIN ME.”

OJ Oleka & Terrance Sullivan co-founders, AntiRacismKY

–OJ Oleka AntiRacismKY

appreciate ‘the other side of the argument,’ which has helped me develop consensus on many issues professionally and personally,” said OJ. Terrance echoes the importance of his experiences at UofL. “There was great reiteration on how we can go further together, and I firmly believe that,” he said.

“For me, campus involvement meant identifying needs for a larger group, and working with that larger group to facilitate change. And that bleeds over to my professional work and AntiRacismKY.” “Any time a former student says their time in class and on campus was well-spent is rewarding for a professor and a win for the university,” said Center for Free Enterprise director, Steve Gohmann. “The fact that Terrance and OJ are using what they learned at UofL to make lives better is certainly gratifying. It’s why we are here.”

LISTEN & WATCH Listen to CFE director Steve Gohmann’s interview with OJ Oleka in episode 18 of the Center’s FreeSpeak podcast in the Media Room at UofLFreeEnteprise.org.

THE CENTER FOR FREE ENTERPRISE

The Economic Impact of Racism video is also available in the Media Room.

Learn more about AntiRacismKY: Facebook @ARKYInitiative Twitter @AntiRacismKY

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NEW STAFF & INTERNS WINTER 2021

NEWSTAFF

Great people make for great institutions. Our success is reflected in the faces of those who pass through the College of Business and impact the world around us.

Genliscia Edwards Dean’s Suite

Genliscia joined the College of Business as the new Faculty Affairs Coordinator in the fall of 2020. Genliscia is a UofL alum, who graduated with her master’s degree in Human Resources and Organizational Development in 2014.

Sonja Faul Marketing & PR

Sonja has joined UofL as a graphic designer for the College of Business’ Marketing department.

After graduating from Northern Kentucky University with a BA in Media Informatics, Sonja brings 5-plus years of design experience from companies including Newport Aquarium and Cincinnati non-profit, ArtsConnect.

Sara Michels Graduate Programs Office

Sara is a recruiting manager for the Graduate Business Programs from Louisville. Throughout the year, you can find her at her happy place, Nolin Lake, most weekends surrounded by family and friends. She is so glad to have the opportunity to come onto the recruiting team as a full-time employee and find her home in the University of Louisville College of Business.

Go Cards!

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Ali Pfeiffer Development

Ali joins the COB as a lifelong Louisville native.

After graduating Bellarmine University with a BA in Communication in 2015, Ali has pursued a career with stints in radio, public relations, marketing, and development. She looks forward to improving stewardship with donors and collaborating on creative projects at the College.

Sudhir Shirigiri Graduate Programs Office

Sudhir is a results-focused professional with 10 years of work experience predominantly in the education space. Currently, he manages India recruitment for MBA and graduate programs on the ground for the College in Mumbai.

Pooja Soni Graduate Programs Office

Pooja joins the COB as a Program Coordinator, Senior. She was born and raised in India and has been living in the U.S. since 2012. Pooja obtained an MBA in Marketing from the International Institute of Planning and Management in Delhi, India. She has worked from startups to Fortune 500 companies across the U.S. Pooja looks forward to helping students in the admission process at COB.

WINTER 2021

GRADASSISTANTS&MBAINTERNS As interns in the College of Business, our students have the best of both worlds — they are learning skills that lead to growth and expansion of their knowledge base for future employment, while also learning what occurs behind the scenes to make the programs successful, and are contributing to the success and talents of their classmates and future students.

Jacob “Jake” Cohen, a graduate of the University of Tennessee, is thrilled to be working toward his MBA while also interning with the College of Business. He has loved getting to know the Louisville area and he hopes to grow as an individual while assisting the COB in its own growth as well. Go Cards!

Garrett Kasey graduated from the University of Louisville College of Business in May 2020, with a degree in economics.

Currently, he is a member of the Full-Time MBA cohort, and honored to be working as a graduate research assistant in the CIS and Management departments this year.

Darian Morgan is from Charleston, Illinois. She graduated from the University of Illinois Urbana-Champaign in May 2020 with a B.S. degree in Organizational Psychology and a minor in Business Administration.

Darian is currently an intern for the College of Business Equine Industry Program and has taken on a variety of roles and projects within the program.

Logan Pant is a Graduate Research Assistant for the Marketing and Economics departments at the University of Louisville. He is passionate about his goal of getting a PhD in Marketing, focusing on research areas of consumer well-being and social media, and becoming a professor himself.

Shivam Patel is a recent graduate from the University of Louisville with a BSBA in Accounting. Currently, he is a student in the Full-Time MBA cohort and works as an intern with the College of Business Graduate Programs Office.

John Patrick O’Brien is from Lexington, KY and currently works with the MBA recruitment team. In his free time, John enjoys being outdoors, fitness, reading, art and music, good food, good drinks and binging Netflix.

Alyssa Perry recently graduated from Western Kentucky University with a double major in Political Science and Communications.

She is pursing her Masters in Business Administration at the University of Louisville in hopes to pursue a law degree to become a financial attorney.

Sarah Snyder is the current MBA Intern at the University of Louisville’s Family Business Center. Sarah graduated as a Student-Athlete from Georgetown College with a double major in Marketing and Healthcare Administration.

Phonepaseuth (Tina) Sourinsack is an MBA student and Graduate Assistant for the Finance and Accounting Departments at UofL. She would like to pursue a PhD in Marketing.

Phonepaseuth’s career goal is to become a professor at a university or research institute.

UofL College of Business: Winter 2021 Highlights

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CERTIFICATE PROGRAMS

Jim Warner interviews Bob Hausladen and Kathleen Gosser via TEAMS

CERTIFICATEROUNDTABLE Closing the gap between the classroom and the

workplace means providing students with not just theoretical knowledge, but an applied wisdom— one which comes from years of experience. The best teachers are often the best bridge builders, translating their professional career into one real-world lesson after another. It’s the difference between another lecture in a string of course lectures and a life lesson that becomes professional practice. As opportunity is a window into specialization, the College of Business has invested in two distinct certificates which provide not only inroads to careers but also serve as electives for the MBA program.

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UofL College of Business: CURRENCY

Kathleen Gosser and Robert Hausladen have each excelled in their respective industries and bring their collective knowledge into the College of Business, infusing and informing the Franchise Management and Distilled Spirits certificates respectively. While each have taken distinctly different paths to join the College, their understanding of their fields is only matched by their passion for teaching. It’s common ground for uncommon careers.

Kathleen has been a fundamental part of the Franchise Management Certificate from its inception. She retired from KFC (YUM! Brands) in August of 2019 after 35 years; her last role was Director of Learning & Organizational Development and the Chair of the KFC Foundation. She immediately started a new position at the University of Louisville, leveraging her experience in learning and franchising. “The Dean was interested in

developing certificate programs and was especially interested in the Franchise program,” Kathleen said.

“KFC is 98% franchised in the U.S. so my work had been predominantly with franchising...we created a strategy working with members from the International Franchise Association (IFA) and other industry experts and laid out a strategy for a certificate at the graduate level.” She now leads the Franchise Management certificate program, an online, asynchronous program focused on all the critical elements

THE BEST TEACHERS ARE OFTEN THE BEST BRIDGE BUILDERS… of franchising. A majority of the adjuncts teaching for Gosser have decades of franchise management experience across a variety of industries.

There were some initial concerns about the Franchise Management Certificate’s audience as many franchise owners are already working in the industry and may not have the need or desire for a graduate degree. While owning a franchise provides opportunities to be an entrepreneur at a lower risk level, it still means understanding best practices in business to be successful.

For those who are not looking for the advanced degree, the Franchise Management Certificate does offer a bootcamp model. The six-week course does not require a bachelor’s degree but does offer 250 credits toward a Certified Franchise Executive™ (CFE) designation from the International Franchise Association.

Many of the bootcamp attendees work for larger franchisors to help learn how to better work with their franchisees. Along with those working in the industry, Gosser also mentioned interest in the certificate coming from two distinct populations: military retirees and the international community.

“An area like the Middle East is big on franchising and franchising U.S. brands… it looks like a budding opportunity for us down the road.

Asynchronous courses makes [the certificate] scalable anywhere.”

When it comes to franchises, KFC may be as Kentucky as it gets; however, it could be argued that bourbon is the signature industry of the bluegrass state. Bob Hausladen worked for more than twenty years at Brown-Forman, starting in sales and ultimately becoming VP of Leadership Development. He helped to develop an awardwinning diversity training program for BrownForman as well as new approaches to management training based on Gallup research. After his time at Brown-Forman, Hausladen wanted two things—“to teach at a university and open my own consulting firm.” He currently does both— consulting with his company New Horizons and teaching at the College.

(Continued on page 22)

KDA Scholarship Developed in partnership with the University of Louisville College of Business, the Kentucky Distillers’ Association (KDA) Lifting Spirits Scholar program empowers and equips diverse students with the necessary skills and knowledge to excel as scholars and business professionals in the distilled spirits industry.

Driven by the program’s four pillars of academic achievement, educational excellence, professional development, and community building, the program provides opportunities that allow students to be both learners and leaders throughout their certificate experience.

“The KDA/UofL Scholars Program is part of our commitment to create an industry and a community that are more diverse, equal, welcoming, and inclusive,” said KDA president Eric Gregory. “These students will be the foundation for historic and necessary change – a permanent legacy that will last for generations and forever transform our timeless craft.” https://business.louisville.edu/learnmore/kdascholars/

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CERTIFICATE PROGRAMS (Continued from page 21)

Unlike Gosser, Hausladen was not immediately involved with the development of the Distilled Spirits certificate, but has signed on to direct the program. While the courses had corporate fellows and some advisors from the industry, Hausladen has helped to create consistency and uniform design in the individual classes.

“In the distilled spirits industry, legally you have a three tiered system — a manufacturer, the wholesaler, and the retailer,” explains Hausladen.

As a result, topics covered in class are seen through the lens of each tier, providing a robust experience for students.

The Distilled Spirits courses have had a range of students from those looking to enter the industry to spirits aficionados. “The industry is really interested in bringing people in,” says Hausladen adding that several companies are working to offer internship opportunities to students. “We saw a lot of people who were in the industry that were looking to move ahead.”

Much like Franchise Management, the Distilled Spirits certificate has its own industry-centric challenges.

“The industry has been white male dominated and it’s been hard to break [into the industry] because in the past, you’ve had to step into that atmosphere,” said Hausladen. A trend towards diversity has been evolving at the retail level first with increases in women-owned—as well as Latinx and Asian-owned businesses. “We’re doing a lot more to increase minority-representation throughout the whole industry.”

By collaborating with industry partners such as the Kentucky Distillers’ Association (KDA), the College has developed a scholarship program aimed at addressing those concerns. Developed in partnership with the University of Louisville College of Business, the KDA Lifting Spirits Scholar program empowers and equips diverse students with the necessary skills and knowledge to excel as business professionals in the distilled spirits industry. (See sidebar, page 21).

Learn more about our certificate programs: Distilled Spirits Certificate: business.louisville.edu/onlinespirits Franchise Management Certificate: business.louisville.edu/onlinefranchise

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UofL College of Business: CURRENCY

As both certificates speak to specific audiences, it’s ultimately Gosser and Hausladen’s experiences in each industry which guide their work. “Very similar to [Distilled Spirits] there is no textbook on franchising—because it changes every single day,” says Gosser. Hausladen agrees adding, “I have found a couple of books, but none of them are really up to par.” The very nature of each certificate means being vigilant on updates to both practice and policy. “It is the hardest part of being a program director…making sure our content is always up to date.” Gosser and Hausladen use a variety of approaches within the courses to keep them up-to-date, including industry blogs and podcasts.

While both of these certificates offer professional credentials that can advance prospects, they are also pathways into the College’s MBA program.

Each certificate’s credit hours fulfills degree electives while providing a level of specialization.

In the end, regardless of certificate, both Gosser and Hausladen agree that cultivating relationships is a key to professional success. “It’s a people business—most are when you really get down to it,” says Hausladen. “The people connections are the important ones.”

RESEARCHROUNDUP A summary of publications and reports featuring the UofL College of Business faculty. Visit: https://business.louisville.edu/research-andpublications for more information.

Mattingly, E. S., Manju Ahuja, Andrew Manikas, & Kushev, T. N. (2020). Is that an opportunity?

Global versus local processing of technological and socioeconomic constraints. Journal of Small Business Management. Advance online publication.

Daniel Bennett, Stephen Gohmann & Bjørnskov, C. (2020). Coups, regime transitions, and institutional consequences. Journal of Comparative Economics.

Advance online publication.

Nikolaev, B. & Daniel Bennett. (2020). Has economic growth made Americans better off despite rising income inequality? Evidence from subjective wellbeing data. Journal of Private Enterprise, 35(3), 63-92.

Daniel Bennett & Nikolaev, B. (2020). Individualism, pro-market institutions, and national innovation.

Small Business Economics. Advance online publication.

Kogut, C. S., Juliana Molina Binhote, de Mello, R. D. C., & Caballero, A. J. M. (2020). Bazzar case: Exporting gourmet Brazil. Emerald Emerging Markets Case Studies, 10, 4.

Brittany Green, Lian, H., Yu, Y., & Zu, T. (2020). Ultra high-dimensional semiparametric longitudinal data analysis. Biometrics. Advance online publication.

Thomas Lambert (2020). Monopoly capital and management: Too many bosses and too much pay?

Journal of Economic Issues, 54, 644-666.

Elizabeth Munnich, & Richards, M. R. (2020).

Treatment flows after outsourcing public insurance provision: Evidence from Florida Medicaid Health Economics. Advance online publication.

Courtemanche, C., Joshua Pinkston & Stewart, J. (2020). Time spent exercising and obesity: An application of Lewbel’s instrumental variables method. Economics & Human Biology. Advance online publication.

Ryan Quinn & Baker, W. E. (2020). Positive emotions, instrumental resources, and organizational network evolution: Theorizing via simulation research. Social Networks, 64, 212-224.

Cumberland, D., Peake, W., Kerrick, S., & Mary Tapolsky. (2020). Embedding evaluation into a military veteran entrepreneurial training program.

New Directions for Adult & Continuing Education, 166, 125-138.

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CURRENCY Winter 2021 | Vol. 2 | No. 4 This magazine is a compilation of articles, notes, and interviews from the past quarter in the College of Business.

To subscribe to the newsletter please e-mail bizbrand@louisville.edu.

Contributors Donna Clark, Sonja Faul, Sharon Handy, Pablo Hernandez, Elijah Humble, Kristen Lucas, Joe Neary, Alyssa Perry, Ali Pfeiffer, Jim Warner, Jill Wegenast, Liz Young Currency Published by the University of Louisville College of Business Communications and Marketing Department The University of Louisville is an equal opportunity institution.