Haas NewsWire

Haas NewsWire, March 28, 2005

Haas School Community Welcomes Fifth Master's in Financial Engineering Class


Sixty new Master's in Financial Engineering students joined the Haas School last week, eager to jump into a program that gives them the theoretical finance and computer modeling skills to apply to pricing, hedging, trading, and portfolio management decisions in the finance industry.

Members of the class of 2006 have experience at firms such as Moody's KMV and Barclays Global Investors, as well as the Federal Reserve. They bring professional expertise in finance (34%), research and development (18%), consulting and management services (16%), information systems (9%), and engineering (7%). Forty-five percent already hold a master's degree and 13% hold a Ph.D. The students hail from 19 different countries, including France, Finland, the Ukraine, India, and China.

"This class has made a positive impression early on with their intelligence and enthusiasm - asking pertinent questions and bonding very well already," says Linda Kreitzman, director of the MFE program. "I look forward to working with them to secure internships and career positions to match the skills and knowledge they will gain from the program."

The new MFE students were on campus last week for orientation, getting acquainted with the many tools and resources at their disposal, including the MFE computer lab and the Long Library. They also participated in a Berkeley scavenger hunt and toured the Pyramid Brewery.

The Haas MFE program teaches students with superior analytical skills how to apply theoretical finance and computer modeling skills to pricing, hedging, trading, and portfolio management decisions in a practical business environment. The program also gives students access to specialized career services and the business school's worldwide alumni network. For more information on the MFE program, visit http://mfe.haas.berkeley.edu.

Industry Leaders to Join Lester Center in Honoring Richard Kramlich for Lifetime Achievement, March 31

C. Richard Kramlich, one of Silicon Valley's early venture capitalists, will be presented with the Lifetime Achievement Award by the Haas School's Lester Center for Entrepreneurship & Innovation at a special Berkeley Entrepreneurs Forum this Thursday, March 31, 2005.

A stellar line-up of Silicon Valley leaders will speak on the growth of the valley's economy and Kramlich's pivotal role in the process:

  • Larry Sonsini of Wilson Sonsini Goodrich and Rosati;
  • Mory Ebajat of Zhone Technologies;
  • Kenneth Wilcox of Silicon Valley Bank;
  • Gary Morgenthaler of Morgenthaler Ventures;
  • Chuck Newhall, cofounder of NEA; and
  • Sandy Robertson, founder of Robertson Stephens.

Kramlich is the co-founder and general partner of New Enterprise Associates (NEA), one of Silicon Valley's premier venture capital firms. Of the 500 companies NEA has invested in, 149 have gone public, including 3Com, Silicon Graphics, Juniper Networks, and Ascend Technology. The fund has invested approximately $5 billion in early-stage technology and life sciences companies, and has earned an average annual rate of return on capital of 27 percent.

Previous winners of the Lester Center's Lifetime Achievement Award include Dr. Alejandro Zaffaroni (1998), Arthur Rock (1999), Dr. Gordon E. Moore (2000), William R. Hambrecht (2001), Dr. Edward E. Penhoet (2002), Ralph Landau (2003), and Sanford R. Robertson (2004).

This special event starts at 6:30 p.m. with a networking session in the school's Bank of America Forum; the program will proceed at 7:15 p.m. in the Arthur Andersen Auditorium. To register, go to http://entrepreneurship.berkeley.edu/Reg&Park.asp. Haas faculty, staff, and students may attend at a special rate; contact the Lester Center at 510-642-4255 or at lester@haas.berkeley.edu for more information.

Berkeley Nanotechnology Forum Explores the Impact and Opportunities of Thinking Small, April 30

From stain-free pants to scanning electron microscopes, the science of making things small has moved from research to industrial development, the impact of which will be explored by leading scientists, entrepreneurs, and academics at the second Berkeley Nanotechnology Forum on Saturday, April 30 from 8:30 a.m. to 4:30 p.m. at the Haas School's Arthur Andersen Auditorium.

"Our focus for the forum is the 'triple bottom line': business, society, and the environment," says Berkeley MBA first-year student Narasimhan Raghavan, forum organizer and co-president of the Berkeley Nanotechnology Club. "We are building on the success of last year's forum to bring even more scientists, entrepreneurs, and academics to Haas to discuss how nanotechnology is poised to revolutionize our future."

Nobel Prize-winning physicist Steven Chu, director of the Lawrence Berkeley National Laboratory, will deliver the keynote address for the forum titled, "Nano: Impacting Societies and Economies." Chu has been a professor of physics at Stanford University since 1987 and previously conducted research at Bell Laboratories in New Jersey. He received his Ph.D. from UC Berkeley in 1976.

The forum will feature a series of talks and panel sessions in the morning and afternoon. One panel will address market drivers for nanobusiness and the other will explore the impact of nanotechnology on the "triple bottom line" of business, society, and the environment. Lead speakers and panelists include: Stephen Schneider, president and CEO of Envirosystems; Ken David, director of Components Research of Intel; Ken Babcock, CTO of Veeco Metrology; and Subodh Toprani, CEO of Zettacore.

The conference also features a poster session where Bay Area students and researchers will present innovations and potential startup projects in nanosciences and nanoengineering. Participants receive feedback from well-known technologists, venture capitalists, and industrialists and are eligible for awards of $300 to $1,000.

The forum is hosted by the Berkeley Nanotechnology Club, an interdisciplinary group of UC Berkeley students and alumni promoting information exchange and entrepreneurship opportunities. Sponsors include the Molecular Foundry at Lawrence Berkeley National Laboratory; the Berkeley Nanosciences and Nanoengineering Institute; the Management of Technology Program, the College of Chemistry, the College of Engineering, the College of Letters & Science, the Department of Physics, CITRIS, the Lester Center for Entrepreneurship and Innovation, and Northrup Grumman.

For more information on the forum and to register, visit http://nanoclub.berkeley.edu/.

Non-business Majors Master Business Fundamentals, Improve Marketability through BASE

Each summer undergraduates studying science, engineering, and the arts and humanities add business acumen to their portfolio of skills through the Haas School's BASE summer program, a six-week intensive program teaching business fundamentals to non-business majors from across the country.

The application deadline is March 31 for this sixth year of the Business for Arts, Sciences, and Engineering (BASE) program, which runs from July 5 to August 12. The program is run by the Haas Undergraduate Program to help students in non-business disciplines develop the skills needed to operate in an increasingly complex global environment. BASE draws students from UC Berkeley and other elite US universities, including Brown, Columbia, Duke, Harvard, MIT, and Stanford.

"By the time these students leave BASE, they've learned how to conduct business research, analyze product and financial markets, and examine human resource management issues," says Dan Himelstein, executive director of the Haas Undergraduate Program. "This level of business savvy definitely gives them a competitive edge. BASE graduates have gone on to work in such positions as associate product marketing manager with Google and management consultant with McKinsey and Company."

This summer's participants will earn UC Berkeley credit by studying Introduction to Financial Accounting with Professor Vic Stanton, Introduction to Organizational Behavior with senior lecturer Holly Schroth, and Marketing with senior lecturer Trudy Kehret-Ward. The program integrates this classroom learning with activities such as company-related field trips and on-campus briefings with business professionals, along with weekly lunches that give access to members of the Haas administration and faculty. BASE participants also sharpen career search skills through interview and resume workshops with career center staff.

For more information on the BASE program, visit http://haas.berkeley.edu/Undergrad/BASE.html.

Haas in the News

Ashok Bardhan, senior research associate with the Fisher Center for Real Estate & Urban Economics, was quoted in the April issue of San Francisco magazine in an article titled "Show Me the Sugar: At Bay Area Restaurants, Dessert on the Table Means Money in the Bank." Bardhan commented on the ordering of dessert and the restaurant business in general as concurrent economic indicators.

Abby Scott, director of MBA Career Services, was featured in an in-depth interview about Haas School career services and recruiting trends in BusinessWeek Online on March 25 titled "Getting the Career in Gear." For full text: http://www.businessweek.com/bschools/content/mar2005/bs20050321_5245.htm

The Global Social Venture Competition was mentioned in a March 24 article of the National Business Review titled "Students Seek Social Entrepreneurs." The article discussed the formation of a new social entrepreneurship category in a competition at the University of Auckland.

Terrance Odean, associate professor with the Haas Finance Group, was quoted in a March 21 Newsweek article titled "Beware the Quiet Bear." Odean commented on investor behavior before and after the market bubble burst in 2000.

Professor Hal Varian's book Information Rules: A Strategic Guide to the Network Economy, written with Professor Carl Shapiro, was included on a list of "The Smartest Books We Know: 75 Books that Teach you Everything You Really Need to Know About" in Fortune on March 21. For full text: http://www.fortune.com/fortune/fortune75/articles/0,15114,1034784,00.html

Adjunct marketing professor Peter Sealey was quoted in a March 21 San Jose Mercury News article titled "Voice Recognition: They Speak Thereby They Brand." Sealey commented on branding in an article about interactive speech software. For full text: http://www.mercurynews.com/mld/mercurynews/business/11191007.htm

A leadership development course for CIOs offered by the Center for Executive Development in partnership with Evanta was mentioned in a March 21 Oregonian article titled "Economic Snapshot at Trade Shows, Fewer Can Be Better."

The Berkeley-Columbia Executive MBA Program was mentioned in a March 21 BusinessWorld article featuring R. Glenn Hubbard, dean of Columbia Business School, titled "Managers Need Bigger-picture Skills Q & A: Columbia Business School Dean R. Glenn Hubbard."

Lecturer Neil Rogers was mentioned in a "People in Business" article in the Santa Cruz Sentinel on March 21. Rogers was named Member of the Month for Profile, a volunteer organization of job-searching professionals, for which he serves as marketing director. For full text: http://www.santacruzsentinel.com/archive/2005/March/21/biz/stories/01biz.htm

A number of Haas School students, faculty, and staff were featured in a March 19 San Francisco Chronicle article titled "Taking Home an MBA: Growing Economy Lures Newly Degreed Graduate Students to Return to China." The following members of the Haas Community were featured or quoted: Chen Wang, MBA 05; Xin Lu, MBA 05; Haibin Lin, MBA 05; Zhiming Jiang, MFE 03; Yadong Li, MFE 04; Junbo Feng, MFE 04; Mei Wang, MFE 04; Peter Johnson, director of international admissions for the Full-time MBA Program; lecturer Jihong Sanderson; adjunct professor Sebastian Teunissen; and Linda Kreitzman, director of the MFE Program. For full text: http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/03/19/BUGS1BRRFQ1.DTL

Benjamin Hermalin, the Willis H. Booth Professor of Banking and Finance, was quoted in the San Diego Union-Tribune on March 18 in an article titled "Sempra Shareholder Meet Set for London." Hermalin commented on the decision of San Diego's Sempra Energy to hold a shareholder meeting in London.

Cynthia Kroll, senior regional economist for the Fisher Center for Real Estate and Urban Economics, commented on Bay Area housing supply and prices in a March 15 Oakland Tribune article titled "Economy Faces Home Slip."

Janet Yellen, Eugene E. and Catherine M. Trefethen Professor of Business Administration and president of the Federal Reserve in San Francisco, was quoted in Investor's Business Daily on March 15. Yellen commented on the strength of the US economy in an article titled "To the Point: The Economy."

Yellen commented on US housing prices in a March 14 Reuters article titled "Home Prices to Moderate, not Slide-Fed's Yellen."

Peter Sealey was quoted in Brandweek on March 14 in an article titled "Dateline: PMA Conference." Sealey's comments on mass media marketing made during a talk at the Promotion Marketing Association's annual conference were quoted.

Sealey was also quoted in a March 14 book review of Disney War that ran in Advertising Age. Sealey commented on the extensive coverage of Michael Eisner's leadership of Disney.

Terrance Odean commented on investor behavior in a March 14 Tulsa World article about the fifth anniversary of the peak in the NASDAQ Composite Index titled "Lessons Learned from Tech Bust." The same article ran in the New Jersey Star-Ledger on March 11 titled "Five Years' Wisdom, or Just Five Years?" For full text: http://www.nj.com/search/index.ssf?/base/columns-0/111052141662640.xml?starledger?colcha

James Lincoln, Warren E. and Carol Spieker Professor of Leadership, was quoted on March 13 in a Pittsburgh Post-Gazette article titled "Break with Tradition at Sony." Lincoln commented on Sony's decision to hire US citizen Howard Stringer as CEO. The same article also ran in the San Francisco Chronicle on March 11. For full text: http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/03/11/BUGPSBNJ681.DTL

Venture capitalist and Haas School Business Advisory Board member Tim Draper was profiled in depth in the San Francisco Chronicle on March 13, in an article titled "Draper Fisher Jurvetson On the Record: Tim Draper." For full text: http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/03/13/BUGQQBND5L1.DTL

A Hal Varian article analyzing NASDAQ's peak five years ago ran in the New York Times on March 10 as part of an "Economic Scene" column.

The Haas School's Women in Leadership Conference was featured in the Oakland Tribune on March 8 in an article titled "Successful Women in Business Gather at UC for Conference." Barbara Desoer, MBA 77, Emilie Cortes, MBA 02, Michelle Thomas, MBA 04, and Priya Haji, MBA 04, were quoted.

Linda Kreitzman, director of the Master's in Financial Engineering Program, was featured in an article about the Haas School's MFE program that ran in the March/April issue of Financial Engineering News titled "Educating Students Prepared for Today's Increasingly Complex Markets." For full text: http://www.fenews.com/fen42/special-feature/ucal-berkeley/u-cal-berkeley.html. The Certificate in Financial Engineering (CFE) offered by the Center for Executive Development was also featured in this issue through an interview with John O'Brien, executive director of the MFE Program and director of the CFE program. For full text: http://www.fenews.com/fen42/special-feature/berkeley-exec-dev/berkeley-exec-dev.html.

Happening at Haas

Presentation of the Annual Lester Center Lifetime Achievement in Entrepreneurship & Innovation Award to C. Richard Kramlich
Thursday, March 31
6:30 p.m. to 9:00 p.m.
Arthur Andersen Auditorium
For more information, visit http://entrepreneurship.berkeley.edu/mar05.asp.

"Silicon Valley's New Investment Environment" by Kevin Fong, Managing Director, Mayfield
Wednesday, April 6
4:00 p.m. to 6:00 p.m.
Wells Fargo Room
For more information, contact Susan Reneau at sreneau@haas.berkeley.edu.

International Finance at Yahoo! with Darren Gocher, senior director, International Finance, Yahoo! Inc.
Thursday, April 7
4:00 p.m.
Wells Fargo Room
For more information, contact Erin Smith at epsmith@haas.berkeley.edu.

Inaugural Business Consulting Showcase
Thursday, April 7
6:00 p.m. to 8:30 p.m.
Heyns Room, Men's Faculty Club
The showcase culminates the 10th grade series of YEAH's Saturday Business Academy. Student teams and their MBA project managers will present their recommendations for partnering local micro-businesses.
For more information, contact the YEAH office at 510-643-0923 or visit
http://www.haas.berkeley.edu/yeah .

Measuring and Reporting Social, Environmental and Financial Performance
Friday, April 8 and Saturday, April 9
Haas School of Business
The conference will discuss CSR metrics topics that are wide ranging, including theory and evidence on trends in reporting, disclosure, accountability and measurement. Keynote speakers for this conference are John Elkington, co-founder of SustainAbility and Gavin Power, senior advisor at the United Nations Global Compact.
For more information, call 510-643-7668 or visit http://haas.berkeley.edu/responsiblebusiness/conference/index.htm .

"The Story of How Two Haas Students Started a University in Ghana" by Nina Marini, MBA 99, Co-founder and Vice President of Ashesi Univeristy and the Ashesi Foundation
Tuesday, April 12
4:00 p.m. to 5:30 p.m.
Wells Fargo Room
Ashesi University is a new private, non-profit university in Ghana, West Africa, an extension of its parent organization, Ashesi University Foundation in Seattle Washington. Marini has been involved in all aspects of the university's growth, from a feasibility study in 1998 and the start of instruction in March 2002.
For more information, visit http://www.haas.berkeley.edu/HaasGlobal/events.html or contact Erin Smith at epsmith@haas.berkeley.edu .

ANNUAL NET IMPACT/NON-PROFIT AND PUBLIC MANAGEMENT ALUMNI-STUDENT DINNER Leadership and Social Change: Overcoming the Real Obstacles and Challenges of Leading Today
Tuesday, April 12
6:30 p.m. to 9:30 p.m.
UC Berkeley's International House
Robert Reich, former US Secretary of Labor and visiting professor at the Goldman School of Public Policy will give the keynote address.
To register for the dinner, visit http://www.acteva.com/booking.cfm?bevaid=82796 .

Geoffrey Moore, founder, the Chasm Group
Wednesday, April 13
4:00 p.m. to 6:00 p.m.
Wells Fargo Room
For more information, contact Susan Reneau at sreneau@haas.berkeley.edu .

Joy at Work Author Dennis Bakke, cofounder and CEO emeritus of AES
Thursday, April 14
12:30 p.m.
Seaborg Room of the Faculty Club
This event is free and open to the entire Haas community. For more information, contact
Dave Guendleman at guendelm@haas.berkeley.edu .

Friday, April 15
9:00 a.m. to 4:00 p.m.
Berkeley Art Museum
For more information, visit http://www.socialvc.net .

UNIDO/MOT Second Annual Conference
Bridging the Divide
April 21, 22, and 23
College of Engineering
The conference brings together scholars, practitioners and government and corporate policymakers into a single forum focused on the role of technology in the world's developing economies.
For more information, visit http://mot.berkeley.edu .

Saturday, April 23
8:30 a.m. to 12:30 p.m.
Andersen Auditorium
The Venture Capital Competition culminates the 9th grade series of the Saturday Business Academy. Students and their MBA business coaches will pitch their business ideas to a mock board of venture capitalists.
For more information, contact the YEAH office at 510-643-0923 or visit

"Brand Portfolio Strategy" by David Aaker, Marketing Professor Emeritus
Tuesday, April 26
4:00 p.m.
Wells Fargo Room
Seats will be available on first-come, first-served basis. No reservations required.
For more information, contact Sarah Benson at benson@haas.berkeley.edu.


Judith White, Dartmouth College
Wednesday, March 30
4:00 p.m. to 5:30 p.m.
For more information, contact Deborah Houy at houy@haas.berkeley.edu.

"How Do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines," by Austan Goolsbee, University of Chicago
Wednesday, March 30
2:00 p.m. to 3:30 p.m.
For more information, visit http://faculty.haas.berkeley.edu/marko/EAPSeminar2005.htm.

"Dynamic Security Design," by Bruno Biais, University of Toulouse and NYSE
Thursday, March 31
4:10 p.m. to 5:40 p.m.
For more information, contact June Wong at june@haas.berkeley.edu.

"Tacit Knowledge, Uncertainty, and Startups" by Brent Goldfarb, University of Maryland
Thursday, March 31
4:00 p.m. to 6:00 p.m.
For more information, contact Anita Stephens at stephens@haas.berkeley.edu.

Trond Petersen, Haas School of Business
Wednesday, April 6
4:00 p.m. to 5:30 p.m.
For more information, contact Deborah Houy at houy@haas.berkeley.edu.

"Complementarity in Improvement Programs" by Phillip J. Lederer, William E. Simon Graduate School of Business Administration, University of Rochester
Monday, April 7
8:45 a.m. to 10:00 a.m.
For more information, contact Alysia Nero at anero@haas.berkeley.edu.

"The Effect of Information on Competition in Procurement Auctions" by Philip Leslie, Stanford University
Thursday, April 7
4:00 p.m. to 6:00 p.m.
For more information, contact Anita Stephens at stephens@haas.berkeley.edu.

"Corporate Financing Decisions When Investors Take the Path of Least Resistance," by Malcolm Baker, Harvard University and visiting at Stanford University
Thursday, April 7
4:10 p.m. to 5:40 p.m.
For more information, contact June Wong at june@haas.berkeley.edu.

Benoit Monin, Stanford University
Friday, April 8
4:00 p.m. to 5:30 p.m.
For more information, contact Laura Gardner at Lgardner@haas.berkeley.edu.

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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