Steven Markel, Vice Chairman, Markel Corporation, congratulated the School of Business graduates on their journey thus far and wished them well. He then asked them: “Now what?”

“You can now begin to shape your future. If you have not yet done so, the time has come to set your own personal Lifetime Achievement Goals.”

Markel has proven to be a leader through his assistance to VCU and the School of Business. In 2005 he assumed the position of chairman of the Executive Leadership Team for the School of Business Campaign. He also serves on several Boards of Directors including the governing board of the VCU Health Systems Authority, S&K Famous Brands and the Richmond Chapter of the American Heart Association.

For complete text of Markel’s talk click on More>>>
 

GREY CHALLENGES STUDENTS AT VCU COMMENCEMENT

School of Business graduate Robert J. Grey, Jr., ’73, the immediate past president of the American Bar Association, and a partner at the Hunton & Williams law firm, was the VCU commencement speaker. He challenged graduates to seek leadership opportunities in the rapid pace being set by the science, medicine and engineering environments. “You are the next generation of leaders,” he told the students. “It will soon be your turn to make the decisions—the decisions that will change the world.”

Grey recalled sitting in the audience at his graduation from VCU in 1973. "It is here at this university that I got my legs to be who I could be," Grey said. "It is VCU that I am proud of when I think of what I have become."

During the ceremony Grey received an honorary doctor of humane letters, presented by Dr. Eugene Trani, VCU President. This is VCU’s highest form of recognition, acknowledging those who have made outstanding contributions to society through scholarship, humanitarianism, science, art and public service.

Steven and Katherine Markel and Stanley and Dorothy Pauley also were honored with the Edward A. Wayne Medal, which recognizes individuals who have made outstanding contribution’s or provided exemplary service to VCU.

The graduating class of 3,269 represented 123 counties and cities from across Virginia, 40 of the 50 states and Washington, D.C., and 38 countries from around the world.

School of Business graduate Robert J. Grey, Jr., ’73, the immediate past president of the American Bar Association, and a partner with Hunton & Williams, was the VCU commencement speaker.

MARY MORTON PARSONS FOUNDATION PLEDGES
$1 MILLION TO SCHOOL OF BUSINESS

The Mary Morton Parsons Foundation, based in Richmond, has announced a $1 million matching grant for The Campaign for the School of Business. In order to receive the grant, $1 million in new gifts and pledges from alumni and funds must be raised within six months. The Mary Morton Parsons Foundation has supported many projects at Virginia Commonwealth University including the School of Engineering, the Massey Cancer Center, the Jazz Masters Program and the Virginia Breast Cancer Foundation. “We are extremely grateful for the opportunity this matching grant offers as we reach out to new donors," says Doug Knapp, director, Office of Development & Alumni Affairs. Persons interested in learning more about this matching-funds opportunity should contact the Development Office at (804) 828-1485.

TRUMBLE RECEIVES GRANT TO ESTABLISH BENCHMARKS
FOR SAFETY & HEALTH COMPLIANCE OFFICERS

Dr. Robert R. Trumble, Professor of Management and former Dean of the School of Business, has been awarded a $75,000 grant by the Virginia Employment Commission (VEC) to undertake a workforce study of the safety and health compliance officer professions in Virginia. The study will establish new benchmarks, and at a minimum, will evaluate algorithm and data used to determine the appropriate number of such positions in the state, and recommend any improvements in the efficiencies of staff in these professions.

“Employer, employee and public concerns will be incorporated into the study. The study will also make a recommendation on the appropriate staffing levels and identify any projected numbers of new openings in these fields and what employment and training activities may be needed to support such demand," said Dr. Trumble.

Dr. Trumble has received previous grants to study workforce staffing. In 2004 he received a Fulbright Fellowship to the Indian Institute of Management in Bangalore, India to lecture and conduct research on outsourcing.

Dr. Kenneth N. Daniels

DANIELS REAPPOINTED TO TREASURY BOARD

Dr. Kenneth N. Daniels, Professor of Finance, Department of Finance, Risk Management and Real Estate, has been reappointed to the Commonwealth of Virginia Treasury Board. Governor Tim Kaine reappointed Dr. Daniels to the board, which manages the municipal debt for the State of Virginia and also manages several investment portfolios, including the Tobacco Indemnification and Community Revitalization Fund designated to revitalize South Side Virginia and the $9 billion Local Government Investment Pool (LGIP) fund.

Dr. Daniels is also a board member of the Virginia Community Development Corporation (VCDC), which manages investment funds over $150 million to improve affordable housing for the state of Virginia. He serves on the investment advisory committee for City of Richmond Retirement System, which oversees a $500 million investment portfolio.

During the past year, Dr. Daniels also has published three research articles. Upcoming in August 2006 will be “The Role and Impact of Financial Advisors in the Market for Municipal Bonds,” Journal of Financial Services Research, Vol. 30. 43-68. And, “The Valuation Impact of Financial Advisors: An Empirical Analysis of REIT Merger and Acquisitions," Journal of Real Estate Research.

FAST TRACK EXECUTIVE MBA STUDENTS LEARN FIRST HAND
HOW WASHINGTON IMPACTS BUSINESS

Class of 2006 Goes to Washington. On March 23 & 24, 34 Fast Track EMBA students went to Washington D.C. to “learn how Washington works and some of the impact on business.” The two-day trip was arranged by Ms. Kristi Way and Todd Haymore (both in the 2004 class). The students met at 10:30 a.m. Rayburn House Office Building.

Several of the initial speakers were staff in the House of Representatives (Steve Stombres, Jason Kello). These staffers discussed their roles in the legislative process and how a bill becomes a law, using the Bankruptcy Act, which was implemented in October, 2005, as an example. Larry Siegfried, a lobbyist for the American Bankers discussed some of the banking legislation that he was watching and why it was important.

Dr. Chi Nguyen, an economist with the National Association of Manufacturer’s, gave a presentation on key issues in manufacturing such as outsourcing and comparative corporate tax rates. Dr. Nguyen pointed out that more than two million jobs have been lost in manufacturing since the 2001 recession and five years later these jobs have not returned. Dr. Nguyen discussed some of the ways the U. S. could be more competitive in a global economy such as lowering corporate tax rates.

Fast Track Executive MBA Class of 2006 Goes to Washington

TEAM FOUR WINS SECOND ANNUAL INFLATION-TARGETING TEAM CHALLENGE FOR THE FAST TRACK MBA CLASS OF 2006

The EMBA Team Challenge is a part of an annual two-day Fast Track program on How Washington Works. This year Jessica Brooks, Terry Curley, Gary Harrell, Bill Kitchens, Becca Mayberry and Amy Senkbeill made an outstanding presentation and won the major team award. The judges for the contest were Dr. Dennis M. O’Toole Fast Track Faculty Advisor and Dr. Sandra Cannon an Economist in the Research and Statistics Division of the Federal Reserve Board of Governors.

Each team was given ten recent articles on the pros and cons of Inflation-targeting. Each team was given five minutes to present both sides and then to make a case for one side. At the end of the five- minute period, students were given a question from one of the ten articles as a tie-breaker worth one point. Team four answered the tie-breaker correctly and that was their margin of victory. The Challenge was held in the Board of Governors Room where the Federal Open Market Committee (FOMC) meets eight times a year to determine short-term interest rates. In fact, the Team Challenge was held on Friday March 24, 2006 and on Monday and Tuesday March 26-27 the FOMC met in the same room and raised the federal funds rate by 25 basis points. Before the Team Challenge, Dr. Cannon and Dr. O’Toole answered questions about the assigned readings and monetary policy.

Rick Olson, (Class of 2000), a lobbyist for Capital One gave an after-dinner speech on the role that lobbyist play in educating legislators on the costs and benefits of legislation such as the Bankruptcy Act or raising postal rates.

Dr. Jonathan Sokobin, Deputy Chief Economist for the Securities and Exchange Commission (SEC) spoke on the duties of the SEC and discussed some of the current issues such as Sarbanes-Oxley Act and the regulation of hedge funds.

EMBA News Contributed by Dr. Dennis O’Toole

Dr. Etti Baranoff

DR. BARANOFF'S PAPER WINS IIS RESEARCH AWARD

The Geneva Association/IIS Research Program had selected a research paper by Dr. Etti Baranoff as one of three winners for the 2006 Geneva Association/IIS Research Awards. As a winner she will present her paper at the International Insurance Society Inc. (IIS) meeting in Chicago July 16-19. The Award includes a $10,000 stipend.

This award program is a partnership between the IIS and The Geneva Association, based in Switzerland, to increase a research effort that will meet the needs of senior insurance executives and build a new research effort.

Does IT Matter?

On May 3, SyCom Technologies, Capital One, Greater Richmond Technology Council and Microsoft Corporation came to the VCU School of Engineering to sponsor one of information technologies more interesting debates featuring Nicholas Carr and Bob McDowell, Sr. Carr is the author of a new book “Does IT Matter? Information Technology and the Corrosion of Competitive Advantage” that has set off a worldwide debate about the role of computers in business. McDowell is Vice President of Information Worker Business Value at Microsoft. As a direct report to Microsoft’s Chairman Bill Gates, he was the ideal person to challenge Carr’s comments, and to take the position of the value of technology in meeting and solving today’s business challenges.

“We are fortunate to have had SyCom Technologies and Microsoft select VCU as a location for this debate,” said Dean Michael Sesnowitz, School of Business, who made opening remarks along with Dean Robert Mattauch, School of Engineering.

For additional information click on these URLs.

Innsbrook Today article
http://www.innsbrooktoday.com/todayit.cfm

SyCom Technologies Newsletter
http://www.sycomtech.com/

VCU Athletes Combine Business and Tennis
Pedro Nieto is Perfection on and off Court

Several School of Business students are also VCU’s top tennis players. On April 20 the teams were featured in the Richmond Times Dispatch sports section.

The Number 1 men’s player, Pedro Nieto, received his master’s in Information Systems this month, finishing with a 4.0 GPA. He is planning to attend Harvard Business School in the fall.

Pedro has been a winning story both on and off the court. When he arrived at VCU he could barely speak English. A native of Seville, Spain, he had never faced an obstacle of this nature. The tennis team would be a saving grace for Pedro, along with his overwhelming desire to become more fluent in English.

As Pedro continued to dominate on the tennis court, his understanding of the language began to match his tennis ability. After two years of competition, he had collected 40 singles wins, four All-CAA citations, a league player of the year nod, and a Most Outstanding Performer award from the CAA Championships – all while helping the Rams to their seventh and eighth-straight conference crowns. He was also working to be just as successful in the classroom. He was named to the Dean’s List during his six semesters at VCU.

Pedro's teamate, Francesc Lleal of Barcelona, Spain is completing his master’s in the business school.

“What is more important?” coach Paul Kostin asks his players. “Winning a tennis match or getting a degree?” Both is their response. Both men and women’s teams have exceeded a grade-point average of 3.0 last semester.

Times Dispatch reporter John Packet also interviewed Olga Borisova who plays both singles and doubles for the women’s teams. She is from Belarus, and received her degree in marketing in May. She wants to stay at VCU and work on a degree in sports management from the SportsCenter. “I would say that a degree was my first priority,” Olga said. She views tennis as a job that she has to do. “So I have to plan my time for both of them.”

Marketing major Olga Borisova, left, and Arnaud Lecloerec, right, both came from overseas to play tennis at VCU. Both plan to pursue master’s degrees. (Photo by Alexa Welch Edlund and used with permission of Richmond Times Dispatch.)

VCU Leadership and Service Awards Presented

Three School of Business students were honored for their leadership and service roles at VCU. Emerging Leader Awards were presented to William C. Moehi, Intentions in Accountancy and Bruce J. Vann, Business Management. A Service Award was presented to Holly S. McGuire, Information Systems, for commitment to student organizations and outstanding service, while maintaining academic excellence.

The Center for the Advancement of Research Methods and Analysis (CARMA) held its Summer Short Courses May 18-20 in the School of Business building. Over 30 faculty and students attended from VCU and other universities. Speakers included Dr. Paul Bliese, Walter Read Army Institute of Research; Dr. Jeff Stanton, Syracuse University; Dr. Jeff Edwards, University of North Carolina; Dr. Robert Vandenberg, University of Georgia and Dr. Kelly Devers, VCU Health Administration.

CARMA’s lecture series also closed with the April 28 presentation on “Power Analysis” by Dr. Kevin Murphy, Pennsylvania State University. At left, Kemper Baker, Director of VCEE, Dr. Larry Williams, Director of CARMA, Dr. Murphy and Jeni Burnette.

A team of Chantilly High School students representing the Virginia Council on Economic Education (VCEE) placed 2nd in the National Economics Challenge held in New York City. Here is what Joe Clement, the team's advisor, said about the competition:

"SOOOOOOOOOOO Close! After the Microeconomics written test, we were in 2nd place (behind Minnesota), after the Macroeconomics written test, we were in 2nd place (behind MN), after the international written test, we were in 2nd place (behind MN). This means we got to the final, buzzer round on Monday – which was really cool (Ron Insana from CNBC and NBC moderated). In the buzzer round, we fell behind early, got a lead at 6-5, fell behind 8-6, tied it at 8-8, and then fell when the MN kids went on a tear. It was a truly awesome experience, and our kids did Virginia proud!"

As winners of the Virginia and Regional Competitions, and runners-up in the National Competition, Joe and his team each received $2,600 worth of U.S. Savings Bonds, and incredible memories. VCEE thanks NCEE, Goldman Sachs Foundation, SUPERVALU and the Richfoods Foundation, for underwriting this competition.  The Virginia Council on Economic Education is headquartered in the VCU School of Business.  Council programs are delivered through a network of Centers for Economic Education, located within colleges and universities across the state.