Haas NewsWire

Haas NewsWire, January 18, 2005


Two Berkeley MBA Students Survive Tsunami Unscathed, Dean Offers Support

Acting Dean Richard Lyons issued a statement to alumni over the winter break expressing the Haas School community's concern for the victims of the earthquake and tsunami in South Asia and offering support to any community members who may have been impacted by this disaster. At this point, only Evening & Weekend

South Asia tsunami epicenter

MBA students Dave Hong and John Chung have reported that they were in the region at the time of the tsunami and escaped unscathed. Hong and Chung were snorkeling off Phuket Island, Thailand, when the tsunami hit. They were on a boat with about twenty other tourists when a message came from the island that a tsunami had hit the shore. Their boat captain managed to ride out several large waves and docked at a beach when the seas had quieted down. No one on their boat was injured. Hong and Chung are back in the US now and doing fine.

"All of us at the Haas School are deeply saddened by the destruction and loss of lives from the recent earthquake and tsunami in South Asia," said Acting Dean Richard Lyons. "Many members of our community have family, friends, and colleagues who may have been affected by this natural disaster and our thoughts are with them." Read the full text of Lyons' statement at http://www.haas.berkeley.edu/news/tsunami.html.

The school has no information of any other members of the Haas community who may have been impacted directly by the disaster, although more information may become available now that the students have returned for spring semester.

UC Berkeley has created a web site listing relief agencies working to aid victims of the tsunami. It can be found at http://www.berkeley.edu/news/media/releases/2005/01/ 04_birgeneau.shtml.

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Haas to Co-Host Second Annual West Coast Private Equity Conference, Jan. 19

With an eye toward foreign currency risk, corporate responsibility, and even sports, private equity is on the agenda at the second annual West Coast Private Equity Conference, Wednesday, January 19, from 10:00 a.m. to 6:30 p.m. at San Francisco's Westin St. Francis Hotel.

Haas School Acting Dean Richard Lyons, California State Treasurer Phil Angelides, and Steve Young, Sorenson Capital co-founder and former San Francisco 49er quarterback, are among the Haas School faculty and industry veterans sharing up-to-date perspectives on the economic and private equity outlook for middle-market companies.

The conference, presented by the San Francisco chapter of the Association for Corporate Growth (ACG) and the Haas School of Business, sold out its 2004 debut, according to conference organizer, Stephen Etter, BS 83, MBA 89, partner at Greyrock Capital. This year's conference has been expanded, with 500 registrants so far -- but still with enough space for attendees to register at the door, beginning at 8:30 a.m.

The day will also include the ACG Capital Connection, an opportunity to network with successful middle-market companies and 58 equity buyout groups who collectively represent over $25 billion in capital, owning more than 500 middle market companies.

An academic perspective on private business will be provided by Haas faculty members including Lyons, who speaks on foreign currency risk; Kellie McElhaney, executive director of the Haas School's Center for Responsible Business, on corporate governance; and senior lecturer Holly Schroth on negotiations. "Kellie's thoughts on corporate responsibility are especially timely, and Holly's negotiation strategies are critical to the world of private equity deal-making where someone loses a deal every day," says Etter.

Mark French, MBA 98, and a Greyrock principal also on the conference organizing committee, adds, "To have Dean Lyons share his latest thoughts on the world currency situation and the effects that could have on companies that do business with Asia will be invaluable."

In his morning address, Angelides will discuss his innovative investment policies and programs aimed at achieving solid returns while bolstering California's long-term economic strength and quality of life.

Steve Young, co-founder and managing director of Sorenson Capital, will give the afternoon keynote address, speaking on "The Similar Worlds of Sports and Private Equity." Young will draw upon his extensive experience in private equity and venture capital investments and on his 15 years with the NFL to examine parallels between life on the gridiron and the world of private equity.

For more information on the conference, go to http://www.acg.org/sanfrancisco/.

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Explore Opportunities in Energy Technology at Berkeley Entrepreneurs Forum, January 27

Discover opportunities to leverage emerging technologies, secure funding, and meet the growing demand for energy at the next Berkeley Entrepreneurs Forum, "Energy Technology: Emerging Solutions," Thursday, January 27 from 6:30 p.m. to 8:30 p.m. in Arthur Andersen Auditorium.

Ira Ehrenpreis, general partner at Technology Partners, a 20-year-old venture capital firm that manages more than $400 million of investment, will moderate the alumni panel discussion featuring Bryant Tong, BS 77, and John Woolard, MBA 97.

Ehrenpreis leads Technology Partners' Cleantech investment practice, investing in energy and water technologies and materials science opportunities. Tong is a managing director at Nth Power, a leading venture capital firm dedicated to investments resulting from the restructuring of the global energy industry. Previously, Tong was founder, president, and CEO of Pacific Venture Capital, the venture capital arm of the PG&E Corporation. Woolard is vice president of energy management solutions at Itron, an energy company that works on energy efficiency, renewable energy, distributed energy generation, load analysis, and market research. Woolard joined Itron when the firm purchased Silicon Energy, a provider of energy management solutions that Woolard co-founded shortly after receiving his Berkeley MBA.

This session of the forum will have a networking hour, during which scientists from the UC Berkeley community will display and demonstrate advanced ideas in energy solutions that may form the basis for future products.

For more information or to register, visit http://entrepreneurship.berkeley.edu/forum.asp.

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Final Call for Business Plans for the 2005 Global Social Venture Competition

With 115 executive summaries from 13 countries submitted, this year's Global Social Venture Competition (GSVC) is off to a strong start.

For teams interested in competing this year, there is still time to submit a full business plan before the February 1 cut-off. Executive summaries were due in November, but submission of a summary while recommended is not required to participate in GSVC. To be eligible, each plan must have one current MBA student from an accredited business school on the management team. All plans must demonstrate significant social return on investment and financial self-sufficiency or profitability.

The competition, founded in 1999 by Berkeley MBA students, was the first in the nation to reward business plans with quantifiable social, as well as financial, goals. Past social venture successes include 2003 winner and Haas alumna Sarah Takesh, MBA 2003, whose venture Tarsian & Blinkley creates high-end ethnic fashions while providing well-paying jobs and benefits to Afghan women.

Student-run and hosted by the Lester Center for Entrepreneurship and Innovation, the competition is now a global partnership with Columbia Business School and the London Business School, with support from the Goldman Sachs Foundation and the Omidyar Network.

The top prize of $25,000 and other awards will be presented April 15, 2005, at the Haas School. For more information on the competition, visit http://www.socialvc.net.

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Executive Summaries Due for UC Berkeley Business Plan Competition, Feb. 1

If you are looking to sharpen the skills you'll need to launch your own company, put February 1 on your calendar -- the day that executive summaries are due for the seventh annual UC Berkeley Business Plan Competition.

Unlike the Global Social Venture Competition, the UC Berkeley B-Plan Competition is open only to students and alumni from UC Berkeley and UC San Francisco. Haas student ventures that have excelled in previous competitions include zipRealty, the first competition venture to go public; Timbre Technologies, which was later acquired for $138 million; and Rapt Industries, which operates on $10 million in government contracts.

On the competition's Entrepreneur's Exchange web page, entrepreneurs seeking teammates this year are hatching ideas for everything from cosmetics made with Chilean herbs to a business-to-business portal for farmers to online channels for global and community-based collaboration. Finalist teams in the competition will not only gain experience in developing and presenting business plans; they will receive extensive feedback on their plans and gain exposure to the venture capitalists who judge the business plans.

The UC Berkeley Business Plan Competition is organized by Berkeley MBA students and hosted by the Lester Center for Entrepreneurship and Innovation in cooperation with the School of Information Management and Systems, UCSF Innovation Accelerator, and the College of Engineering. For a team to be eligible, at least one member must be a student, faculty, staff, or an alumna/alumnus either of the University of California, Berkeley or the University of California, San Francisco.

The $25,000 top prize will be awarded April 28 at the UC Berkeley Faculty Club. For more information on participation or sponsorship opportunities, visit http://bplan.berkeley.edu.

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Professor Emeritus James Carman Dies at 73

James Carman, a professor emeritus at the Haas School and a pioneer in economics and the marketing of health care systems, died on Thursday, December 9, at his home in Kensington. He was 73 and had been diagnosed with prostate cancer two years prior.

A native of Cincinnati, Ohio, Carman served as a professor at Haas from 1962 to 1992. He also twice served as associate dean and was acting dean in 1983. Carman was director of the Graduate Program in Health Management for four years after its establishment in 1991.

Carman's research focused on services management and marketing, distribution channels and health care delivery systems, customer satisfaction and quality management, public policy and strategic alliances, and the transition difficulties facing central European economies.

He contributed to 25 books and wrote Marketing: Principles and Methods in 1973. Carman also was the author or co-author of more than 60 articles in professional journals.

He is survived by his wife, Carol; daughters, Barbara Peschiera and Kathryn Fulton; son, Paul Carman; and four grandchildren.

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Fifth Annual Asia Business Conference Takes Place February 26

"Asia's Global Leadership: Catch IT if You Can" is the theme for the fifth annual Asia Business Conference on Saturday, February 26, in the Arthur Andersen Auditorium.

Michael Marks, CEO of Flextronics International since 1994, will give the morning keynote. During his tenure he has lead the company to grow from $93 million in revenues to $14.5 billion in revenues in 2004. Flextronics provides electronics manufacturing for companies around the globe through a network of facilities in 32 countries and five continents.

Session topics for the conference include Wireless Applications Adoption: How fast is it in Asia?; The Tao: Doing Business in Asia; Biotechnology: The Asian Future; Venture Capital & Private Equity: Opportunities and Challenge; The GAME: Commercial, Technological, and Sociological Perspectives; and Corporate Social Responsibility -- Asian Style.

The conference is hosted by the Asian Business Conference Club in collaboration with the Management of Technology Program (MOT), the Clausen Center for International Business & Policy, and the Lester Center for Entrepreneurship and Innovation.

Tickets will be available soon. For more information, visit http://berkeleyabc.org/2005/index.htm.

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Haas in the News

Professor Paul Gertler, currently on leave to serve as chief economist at The World Bank's Human Development Network, was mentioned in the Philadelphia Inquirer in an article titled "Study: Hospital Consolidation Ups Prices" on January 12, 2005. For full text: http://www.philly.com/mld/philly/business/ personal_finance/10622492.htm?1c

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was mentioned in the San Francisco Chronicle in an article titled "Flying J Buys Bakersfield Refinery" on January 11. For full text: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/ archive/2005/01/11/BUGQ9AO59V1.DTL&type=business

Borenstein was quoted in USA Today in an article titled "Minneapolis Fares Some of the Highest in the Country" on January 10. For full text: http://www.usatoday.com/travel/news/ 2005-01-10-minneapolis_x.htm

Adjunct Marketing Professor Peter Sealey was interviewed on NPR's Morning Edition in an interview on January 6.

Terrence Hendershott, assistant professor in the Operations and Information Technology Management Group, was mentioned in the San Francisco Chronicle in an article titled "Close of an Era: Chicago Firm to Buy Pacific Exchange Options Operation" on January 5. For full text: http://www.sfgate.com/cgi-bin/article.cgi? class="blue"f=/c/a/2005/01/05/BUGK2AL3MT1.DTL

Borenstein was quoted on gas prices in the North County Times in an article titled "Beasts of Burden Aren't Free" on January 1. For full text: http://www.nctimes.com/articles/2005/01/02/ business/news/14_06_391_1_05.txt

Sebastian Teunissen, adjunct professor and Executive Director of the Clausen Center for International Business & Policy, was interviewed on PBS for a segment titled "New Garments" on December 31. For full text: http://www.pbs.org/newshour/bb/asia/ july-dec04/cambodia_12-31.html

Catherine Johnson, MBA 05, and Mark Martel, MBA 05, were quoted in BizJournals in an article titled "Options not out yet" on December 30. Both students commented on how changes in stock options might affect their career decisions. For full text: http://www.bizjournals.com/moneycenter/story.html?id=3487

Sealey was quoted in the Fort Wayne Journal Gazette in an article titled "Technology's Future Likely Consolidation" on December 27. For full text: http://www.fortwayne.com/mld/journalgazette/ business/10506242.htm

Borenstein was quoted in the Silicon Valley/San Jose Business Journal in an article titled "Peak-power Pricing Plan a Pain" on December 26. Borenstein commented on electricity usage and costs.

Borenstein was quoted in the Los Angeles Times in an article titled "Two New Commissioners Could Help to Energize California PUC" on December 20. For full text: http://www.latimes.com/news/local/politics/cal/ la-fi-puc20dec20,1,2840119.story?coll=la-news-politics-california

Terrance Odean, associate professor in the Finance Group, was quoted in the Chicago Tribune in an article titled "Booking Your Retirement? Don't Go to Fantasy Island" on December 19. For full text: http://www.chicagotribune.com/business/investing/
personalfinance/chi-0412190422dec19,1,1431392.story? coll=chi-businessyourmoney-hed

Cynthia Kroll, senior regional economist at the Fisher Center for Real Estate and Urban Economics, was quoted in the East Bay Business Times in an article titled "Some PeopleSoft People will Stay, but for how Long?" on December 19. Kroll gave her outlook on the Bay Area's technology job market.

Ericka Lutz, a writing consultant in the Evening & Weekend Program, was mentioned in the Contra Costa Times in an article titled "Lutz Wins Fellowship for Writers" on December 17. For full text: http://www.contracostatimes.com/mld/cctimes/ news/local/states/california/ counties/alameda_county/cities_neighborhoods/berkeley/ 10438703.htm?1c

Christopher Hennessy, assistant professor in the Finance Group, was quoted in the San Francisco Chronicle in an article titled "Putting Tax Code on Diet" on December 16. Hennessy commented on President George Bush's effort to reformat the tax code. For full text: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/ archive/2004/12/16/BUGGBACG7H1.DTL&type=business

Hal Varian, professor in the Operations and Information Technology Management Group, was quoted by Reuters News Service in an article titled "In Software Industry, Size Matters" on December 15. For full text: http://olympics.reuters.com/audi/newsArticle.jhtml? type=technologyNews&storyID=7107767

Janet Yellen, Eugene E. and Catherine M. Trefethen Professor of Business Administration, on leave as the San Francisco Federal Reserve Bank President, was mentioned in the San Francisco Chronicle in an article titled "Fed Raises Key Rate to 2.25% Analysts Expect More Gradual Increases Next Year" on December 15. For full text: http://www.sfgate.com/cgi-bin/article.cgi? f=/c/a/2004/12/15/BUGI5ABUDL1.DTL

Sealey was quoted in the San Francisco Chronicle in an article titled "Pieces Falling into Place" on December 15. For full text: http://www.sfgate.com/cgi-bin/article.cgi? f=/c/a/2004/12/15/BUGP2ABUMB27.DTL

Odean was mentioned in the Investor's Business Daily in an article titled "Ten Habits of Highly Irrational Investors" on December 14. For full text: http://www.investors.com/breakingnews.asp? journalid=24409144&brk=1

Yellen was mentioned in Bloomberg in an article titled "Fed to Keep 'Measured' Stance on Rates, Survey Says" on December 14. For full text: http://quote.bloomberg.com/apps/news? pid=10000103&sid=a7hQ_CLYX4ew&refer=news_index

Sealey was quoted in the New York Times in an article titled "'Kranks' on Marketing Trail Blazed by 'Passion'" on December 14. Sealey commented on the role religious groups can play in promoting movies.

Varian was quoted in Information Week in an article titled "Optimism Pervades, With High Hopes For Expanding Budgets" on December 13. For full text: http://www.informationweek.com/story/showArticle.jhtml? articleID=55301123&tid=13692

Borenstein gave several radio interviews in December including: KCBS radio discussing competition in retail gasoline markets on December 6; KGO radio as a guest on the Gene Burns show discussing gasoline prices on December 7; and KCBS radio commenting on new energy secretary appointment on December 12.

Varian was mentioned in the San Francisco Chronicle in an article titled "E-mail Trips Up Lawyers: Legal Profession Struggles with Huge Amount of Data" on December 12. For full text: http://www.sfgate.com/cgi-bin/article.cgi? f=/c/a/2004/12/12/BUG4GA9IOM1.DTL

Sealey was quoted in the San Francisco Chronicle in an article titled "Lenovo Poised as Major Player: Chinese Producer Gets Chance to Show What It Can Do" on December 9. For full text: http://sfgate.com/cgi-bin/article.cgi? f=/c/a/2004/12/09/BUG65A8ORF1.DTL

Ben Hermalin, Willis H. Booth Professor of Banking and Finance, was mentioned in the Napa News in an article titled "Class Action Suit Against Mondavi Moves Forward" on December 7. For full text: http://www.napanews.com/templates/index.cfm? template=story_full&id=6CC2398E-8BDC-44A4-8F43-C9C662BDE834

Kroll was mentioned in the San Jose Mercury News in an article titled "Jobs numbers fall short" on December 4. For full text: http://www.mercurynews.com/mld/mercurynews/business/ 10335033.htm?1c

Hermalin was interviewed on KQED FM in a interview titled "Outlook for CalPERS" on December 3. For full interview: http://www.kqed.org/epArchive/R412030900

Patrick Awuah and Nina Marini, both MBA 99s, were featured in The Chronicle of Higher Education: International in an article titled "A 'Swarthmore' Grows in Ghana" on November 5. Awuah and Marini were praised for their valiant achievement of founding a prestigious university in Ghana. For full text: http://chronicle.com/cgi2-bin/printable.cgi? article=http://chronicle.com/prm/weekly/v51/i11/ 11a03601.htm

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Happening at Haas

Berkeley Business Plan Competition Workshop
"How to Create a Business Plan"
Wednesday, January 26
6:00 p.m. to 8:00 p.m.
Wells Fargo Room
A workshop presented by the UC Berkeley Business Plan Competition to learn the basics of structuring a business idea.

Berkeley Nano Opportunity Challenge (BNOC): Round 1: Technology Challenge
Monday, January 31
4:00 p.m. to 9:00 p.m.
Teams comprised of scientists and engineers will get 15 minutes (10 minutes presentation, 5 minutes Q&A) to present their innovations in front of an audience and a panel of judges.
Those interested in participating must register by January 21
For more information visit: http://www.ocf.berkeley.edu/~nano/events.php?view=2.
BNOC 2005 is being organized by the Berkeley Nanotechnology Club and is supported by Berkeley Nanosciences and Nanoengineering Institute, the Management of Technology Program, and the Lester Center for Entrepreneurship & Innovation at UC Berkeley.


"Sharing Restrictions and Asset Pricing:  Evidence from the Hedge Fund Industry" by George Aragon, Boston College
Tuesday, January 18
12:15 p.m. to 1:45 p.m.
Executive Learning Classroom (S480)
For more information, contact June Wong at june@haas.berkeley.edu.

"Risk Sharing and Counter-Cyclical Variation in Market Correlations" by Cevdet Aydemir, Carnegie Mellon University
Thursday, January 20
12:15 p.m. to 1:45 p.m.
Executive Learning Classroom (S480)
For more information, contact June Wong at june@haas.berkeley.edu.

"From Arm’s Length to Bear Hug: Theoretical Clarification and Test of the Value-Conversion Assumption" by Stoyan Sgourev, M.I.T.  
Wednesday, January 26
4:00 p.m. to 5:30 p.m.
Cheit 330
For more information contact, Deborah Houy at houy@haas.berkeley.edu.

Alumni Events

SDForum Distinguished Speaker Series: Craig Newmark, founder of craigslist
Thursday, January 20
6:00 p.m. to 8:00 p.m.
PARC Auditorium, 3333 Coyote Hill Road, Palo Alto
Cost: $15 for pre-registered members of SDForum and co-hosting organizations (UC Berkeley Haas School of Business, Computer History Museum, Institute for the Future, SF Bay ACM Chapter, Chinese Software Professionals Association), $25 for all others. ($25/$35 at the door)
Enter the Haas coupon code (HBS05) to get the discount, during the registration process.
Registration and information: http://www.sdforum.org/dss, or call SDForum at 408-494-8378
In 1995, Craig Newmark started craigslist which is a non-commercial community bulletin board with classifieds and discussion forums. Using a common sense, down-to-earth approach, craigslist strives to make the Internet more personal and authentic, while advocating social responsibility through the promotion of small, non-profit organizations.

Bar of the Month
Thursday, January 20
6:30 p.m. to 8:30 p.m.  
Cortez, 550 Geary St., San Francisco
For more information contact gimpelev@alumni.haas.org

Speaker Event: Rose vs. Lyons: Distinguished Faculty Go Head to Head Over Dollar
Tuesday, February 8
6:00 p.m. to 8:00 p.m.
William F. Cronk Conference Center at the Dreyer's Grand Ice Cream Holdings, Inc., corporate campus, 5929 College Ave., Oakland
Register online at www.acteva.com/go/eb-alumni.
Cost: $10/students, alumni, and friends through February 2, $15 thereafter and at the door. Space limited. RSVP as soon as possible to ensure your space at this popular annual event.
For more information contact Oliver Cruz, MBA 80, at cruzon54@yahoo.com
Spurious accusations and vague insults will fly when Haas Professor Andy Rose and Dean Rich Lyons tackle the topic, "The US Dollar: Will the bottom fall out?"  

Rose on the "no" side: "Anybody peddling the view of major crisis in the dollar is reading too much sensational press. Simple efficient markets logic tells us that if the dollar were headed for a big fall, and everybody knew it, it would fall right away. It's a little sad that Professor Lyons doesn't seem to be able to apply the skills and knowledge that all economists and Haas graduates possess."  

Lyons on the "yes" side: "My colleague Professor Rose is the quintessential ivory-tower academic. That I've known for a long time now. What stuns me--I mean really stuns me--is that as an international economist, he fails to appreciate that we operate in a global economy. That global economy is producing powerful forces for a dollar fall. I look forward to a little consciousness-raising at the debate."

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The Haas NewsWire is the electronic news weekly for the Haas community published every Monday by the Marketing and Communications Office at the Haas School. Send your news, feedback, and suggestions to Haasnews@haas.berkeley.edu.

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