Directors Face Uncertain Future Ater Companies Restate Earnings, Says Prof. Pozner

Jo-Ellen Pozner

Corporate board members associated with firms that restate earnings may lose their jobs for reasons that have nothing to do with the numbers, according to Haas School Assistant Professor Jo-Ellen Pozner. Pozner, a member of the Haas Organizational Behavior and Industrial Relations Group, recently found that social mechanisms may play a larger role in penalizing board directors than is accounted for in classical economic theory.

Pozner's research, "Stigmatization, Pollution, Signaling and Symbolism: Earnings Restatements and the Market for Directors," examines the growing trend of earnings restatements to determine why directors of restating firms lose their seats on other boards. An earnings restatement occurs when a company amends a previously filed earnings report discovered to be materially incorrect, which may alter the company's actual and perceived market value.

Pozner studied more than 300 earnings restatements filed between 1997 and 2003 by 266 firms. She found that board members did not have to have held their positions at the time a company restates earnings to be stigmatized, or guilty by association, to lose their seats on other boards. "We like to think that we choose directors based on a rational assessment of their skills and track record, but this does not appear to be the case," says Pozner, who also used a sample of "clean" companies for comparisons.

"Instead, it's like a witch hunt. Companies get nervous about associating with other tainted companies, and their directors are essentially used as scapegoats," adds Pozner. When a director's individual skills are outweighed by this negative stigma, rather than any substantive facts, Pozner says that many board members step down to disassociate themselves from the stigmatized company. Even if they leave, they face an increased probability of losing seats at other companies, although Pozner adds, "It is difficult to know for sure if they leave voluntarily or are asked to leave."

One example is Standard Commercial Corporation (SCC), which restated its earnings in June 2002 after a specialty unit in the Netherlands was found to have falsified records. Although the misstatement resulted from misconduct at a relatively distant subunit, three of SCC's eight directors lost seats on other boards within three years.

This is a very different outcome than what Pozner saw in companies that did not restate. For example, none of the eight directors and executives she sampled from Triarc Companies, which did not restate in 2002, had lost seats on other boards by 2005.

The passage of time also affects a member's ability to retain his or her board seat. Pozner says the so-called symbolic reaction to earnings restatements is a short-term, knee-jerk reaction. She found if directors can hold out until the end of their terms, usually three years, they are more likely to be judged by the severity and salience of the actual restatement, as the economic theories predict, as opposed to a mere symbolic measure.

"In the third year after restatement, outside directors are much more likely to lose seats on other boards if the restatement reduced income, if it was the result of fraud, and if they were in office at the time of the restatement," Pozner wrote.

Pozner suggests that her findings may also be applied to other forms of business misconduct. She believes the best way for boards to avoid these consequences is to implement more systems and internal processes to ensure accounting mistakes come to light early on, avoiding the need for restatement entirely.

Pozner also charges shareholders with increased involvement. "Shareholders should look at the companies they invest in really carefully," she says. "If they're interested in corporate governance and protecting their own investments, they need to rely on more than media accounts and a company's own press, both of which can produce biased information."

Wireless, Sustainability, and Personal Finance Join Fall Elective Topics

Students this fall are enjoying a roster of new courses in such fields as entrepreneurship in wireless services, improvisation and leadership, and sustainability metrics.

Full-time MBA students are learning about the dynamics of running family businesses - which account for 85 percent of the world's businesses -- in a new class called Family Business Management. The class, one of three new classes in the full-time program this semester, is being taught by Kenneth Preston, a clinical professor of entrepreneurship and family business at NYU's Stern School of Business for the past ten years. Preston tackles such thorny issues as sibling rivalry, succession, and retaining non-family talent through the use of case students and visits by guest speakers from the fields of psychology and family therapy.

In another new MBA course, Metrics of Sustainability, students will learn about the theories and frameworks for measuring sustainability and then apply their new knowledge to help real companies outside the classroom. Carbon accounting and measuring supplier sustainability are among the metric challenges that students are likely to help companies solve. The course is taught by Tony Kingsbury, an executive-in-residence who joined the Center for Responsible Business in 2007 to launch a new interdisciplinary program at UC Berkeley on sustainable products and innovations.

MBA students also are enjoying a new speaker series called Enterprising Solutions: Market-Based Approached for Reducing Poverty. Guest speakers from such organizations as Good Capital, FSG Social Impact Advisors, and Salesforce Foundation will talk about reducing poverty using different market-based mechanisms from the nonprofit, corporate, and social entrepreneurship sectors. Instructors Jocelyn Wyatt, head of IDEO's newly formed Social Impact and Business Factors division, and David Lehr, senior advisor for Social Innovations at Mercy Corps, will lead lectures and case discussions.

The Evening and Weekend MBA Program offered two new courses this fall: Innovation and Entrepreneurship in Wireless Services, and Improvisation and Leadership.

Students in Innovation and Entrepreneurship in Wireless Services will delve into successful and unsuccessful case studies of new wireless services to understand the key ingredients to creating successful businesses in the sector. Lecturer Reza Moazzami boasts more than 15 years of experience as an engineer, entrepreneur, and investor in the communications industry. He earned a Ph.D. in electrical engineering and computer science from Berkeley and an MBA from MIT's Sloan School of Management.

In Improvisation and Leadership, instructor and Haas alumnus Cort Worthington, MBA 07, aims to hone students' leadership skills by enhancing their interpersonal intuition and confidence. Worthington has taught business communication courses since 1987 and has been an active facilitator in the popular leadership course Interpersonal Dynamics at Stanford's Graduate School of Business. The course is also being offered to undergraduate students.

Altogether, five new classes were offered to undergraduates this semester. The other new undergraduate courses are:

  • Communication for Leaders, taught by Senior Lecturer William Sonnenschein. Sonnenschein, an expert on leadership and Haas lecturer since 1992, develops students' persuasive speaking, critical thinking, and presentation abilities to assist in creating and delivering sound business arguments.
  • Personal Finance Management, taught by Fred Selinger, senior managing director of corporate finance and business consulting at Sutter Securities Inc. Students will learn how to better manage their money and achieve financial security. Selinger has served on several boards of directors and has held licenses in securities, real estate, and insurance.
  • Global Marketing … Cultures and Strategies, taught by Sue Anne Davis. Davis, a Haas lecturer since 1994, explores the elements and challenges of developing international products, worldwide brand building, and communication media across different consumer groups and cultures.
  • Strategic Cost Management, taught by Rada Brooks, a lecturer in the Haas Accounting Group since 1998. Building on the Managerial Accounting course, Brooks teaches students how to use managerial account information to help companies achieve strategic and financial goals.

Career Services Road Show Builds Recruiter Relationships

Personal interactions can make all the difference in building recruiter relationships, according to Haas School Director of Recruiting Lisa Feldman. That's why Feldman and other members of the MBA Career Services team spent the summer connecting with more than 80 companies on the West Coast and in New York and Chicago. Their aim: to strengthen ties with recruiters, executives, and alumni at companies from McKinsey to McKesson and from Microsoft to Morgan Stanley.

"These summer visits exemplify what recruiters really like about Haas -- our very high-touch, personalized approach to customer service," says Feldman. She notes that the contact not only keeps Haas top-of-mind for recruiters, but helps the companies plan how to best present themselves on campus. The account managers also check in with new hires and interns on these visits, gleaning intelligence for students about overall corporate culture and the nature of internship projects.

Those making corporate connections this summer for MBA Career Services included:

+ Abby Scott, executive director of MBA Career Services, and Nicole Gehrmann, account manager for financial services and energy. They met with companies in New York, including McKinsey and Goldman Sachs.

+ Jenn Bridge, account manager for consulting and consumer products. She visited Bay Area companies including Bain and Clorox.

+ Feldman, who also serves as account manager for biotech/health care and real estate. She met with companies in Chicago and the Bay Area, including Abbott Laboratories and McKesson.

+ Rich Wong, whose account responsibilities include technology, entertainment and media, and nonprofit; and Pat DeMasters, director of career services for alumni and the Evening & Weekend and Berkeley-Columbia Executive MBA programs. Wong and DeMasters traveled to Seattle, where they met with companies including Microsoft and Amazon and partnered with Haas Alumni Relations on a reception with area alumni.

Wong, whose summer schedule also included visits to Bay Area companies every Monday, Wednesday, and Friday, says he also uses these trips to gain additional insight into the outlook for companies during the coming hiring year. MBA Career Services uses the information to provide overall industry hiring trends to students and to help companies present themselves persuasively, yet realistically.

"By spending this time to re-connect alumni and others to Haas, we see increased engagement," says Feldman. "These stronger ties can make all the difference when times get tough: It enables us to ensure the flow of job opportunities to our MBA students."

"Halo Effect" Author to Address Berkeley Entrepreneurs Forum, Sept. 25

Much popular thinking in the business world is shaped by delusions, according to Professor Philip Rosenzweig, who will speak on his book The Halo Effect...and the Eight Other Business Delusions That Deceive Managers at the Berkeley Entrepreneurs Forum on Thursday, Sept. 25.

Rosenzweig, professor of strategy and international management at IMD in Lausanne, Switzerland, won the California Management Review's (CMR) 2008 Accenture Award for his Summer 2007 CMR article, "Misunderstanding the Nature of Company Performance: The Halo Effect and Other Business Delusions." The Accenture Award is given each year to the author (or authors) of the article published in the preceding volume of CMR (four issues from fall 2006 to summer 2007) that has made the most important contribution to improving the practice of management.

In his research and writings, Professor Rosenzweig examines how we confuse good stories with good research, over-generalize from single experiences, fail to differentiate between relative and absolute performance, and misinterpret history's predictive capabilities. His discussion will address how popular culture's habit of celebrating successful entrepreneurs and ventures (as well as predictors of future success) interferes with an accurate and informed inquiry into what makes entities and entrepreneurs successful.

He will be joined by panelists Barry Staw, the Lorraine Tyson Mitchell Professor in Leadership and Communication; National Public Radio Correspondent Laura Sydell; and Siri Schubert, a freelance business reporter who won a investigative reporting fellowship from the journalism school last year. The event, co-sponsored by the Lester Center for Entrepreneurship and Innovation, California Management Review, and Accenture, will begin with a networking hour from 6:30 p.m. to 7:30 p.m. in the Bank of America Forum, followed by the panel at 7:30 p.m. in Arthur Andersen Auditorium.

All Berkeley Entrepreneurship programs begin with a networking hour from 6:30 p.m. to 7:30 p.m. in the Bank of America Forum. Registration is required, though student attendance is free for this event, thanks to sponsorship from CMR. For more information, visit

Visiting Faculty Bring Variety of Expertise

The Haas School welcomed nine distinguished visiting professors from universities such as Stanford, Kellogg, and Carnegie Mellon to share their knowledge and insights with Haas students and faculty this fall.

The Leadership course in the Berkeley-Columbia Executive MBA Program will be taught by Adam Galinsky, the Morris and Alice Kaplan Professor of Ethics and Decision in Management at Northwestern University's Kellogg School of Management. Galinsky has previously worked with Haas Assistant Professor Cameron Anderson on an article about power and risky behavior. He also studies negotiation and auction behavior as well as group conflict, stereotyping, and stigma.

Roman Weil, the V. Duane Rath Professor Emeritus of Accounting at the University of Chicago, Graduate School of Business, will teach Financial Reporting to evening and weekend MBA students this fall. Weil studies financial literacy and corporate governance. His approach to teaching emphasizes fundamental understanding of the building blocks in accounting to enable students to continue learning and understanding as the world of business transactions changes.

Associate Professor Michaela Draganska comes from Stanford's Graduate School of Management to teach Marketing Research to full-time and evening and weekend MBA students. Draganska's research interests include product assortment decisions, new product positioning, competitive strategy, advertising, and distribution channels.

From Carnegie Mellon University's Tepper School of Business, Associate Professor Don Moore, the Carnegie Bosch Faculty Development Chair, will teach Negotiations and Conflict Resolution to evening and weekend students. Moore's organizational behavior work focuses on bargaining and negotiation; overconfidence and under-confidence; comparative judgment; decision making; and environmental issues in management.

Christine Beckman, associate professor of organization and management at UC Irvine's Paul Merage School of Business, is teaching the full-time MBA course Teaching Business. She studies how organizations learn through their networks, and how this learning, in turn, affects an organization's strategic decisions.

Laura Giuliano, assistant professor at the University of Miami School of Business, is returning to her alma mater to teach Data & Decision this fall to full-time MBA students. Giuliano received her Ph.D. in economics from UC Berkeley. She researches issues pertaining to race, gender, and labor market outcomes; labor-management relations; and the relationship between labor market and health outcomes.

Future entrepreneurs enrolled in the Full-Time MBA Program's new Family Business Management course will be taught by Kenneth Preston, clinical professor of management and entrepreneurship at New York University's Stern School of Business. Preston co-founded J. A. Preston Corporation, a physical therapy equipment company that he built from a 10-person company to a 450-person global enterprise. He heads his own consulting firm, Preston Corporation, specializing in family enterprises and nonprofit organizations.

Assistant Professor John Gonzales is here from the University of San Francisco's Economics Department. Gonzales's expertise includes monetary policy and financial markets; international financial economics; emerging market economics; and investment finance. Gonzales is teaching two classes: Corporate Financial Management to full-time and evening and weekend students, and Economics for Business Decision Making to evening and weekend MBA students.

The Master's in Financial Engineering Program welcomed Economics Professor Michael Melvin, a Dean's Council Distinguished Scholar at Arizona State University's W.P. Carey School of Business. At ASU, Melvin lectures on international money and finance; exchange rate economics; and global equity markets and the euro. At Haas, Melvin is teaching Equity & Currency Markets.

MBAs to Detail Summer Projects at International Business Development Conference, Sept. 26

Berkeley MBA students will share their experiences consulting on a range of overseas projects with clients, classmates, and the Haas School community at the annual International Business Development Conference on Sept. 26.

The daylong event will feature presentations from the 20 student teams who recently completed the International Business Development (IBD) course. From May 24 to June 14, groups worked overseas on international consulting projects. Their projects included studying the feasibility of establishing a world-class secondary school in Cambodia, devising a strategic plan to restructure and improve operations at the Rwandan National Parks Service and National Tourism authority, and developing a financial plan to maintain and support wildlife populations in the Falkland Islands for the Wildlife Conservation Society.

Clients included high-tech heavyweight Nokia, Africa-based grassroots nonprofit Community Markets for Conservation, and the government of Albania.

The conference will be held in the Arthur Andersen Auditorium and is being hosted by the Clausen Center for International Business and Policy, which is embarking on its 19th year of assigning teams of MBA consultants to projects. Admission is free.

For more information visit To read a blog about the students' experiences, visit

Executive Education Gets New Name, Look

The Center for Executive Development at the Haas School has officially changed its name to the UC Berkeley Center for Executive Education and is launching a new web site as part of its rebranding.

The center decided to change its name to reflect its position as the portal to executive education for the entire campus, as it expands its activities and branches out across departments at UC Berkeley. In recent years, the center has increasingly drawn from faculty across the campus to provide leading-edge executive education and custom programs to businesses around the world.

The center's new web site seeks to better reflect its identity as the executive education gateway for UC Berkeley. The site may be found at

"Our rebranding positions the center as the portal to executive education across UC Berkeley. The look and feel is quintessential Berkeley -- innovative, urban, and dynamic," says Assistant Dean Whitney Hischier.

Haas to Celebrate Energy Savings with Ice Cream Party; More Green Activities Underway

The Haas School community will dig into ice cream sundaes Tuesday, Sept. 9, to celebrate an 11.3 percent reduction in energy consumption by the school last April.

The ice cream sundae party for staff, faculty, and students will be held from 12:30 p.m. to 1:30 p.m. in the Haas courtyard. Green Campus, a student-led energy conservation campaign on 12 University of California and California State University campuses, promised the sundaes if the Haas School reduced energy consumption by at least 7 percent during the month of April.

The school's 11.3 percent reduction far surpassed that goal, thanks to staff, faculty, and students who turned off unnecessary lights, unplugged equipment not in use, and shut down power strips. Haas also boasted the largest energy savings among six other buildings on campus that participated in the challenge.

Green Campus and Net Impact, an MBA club focused on social responsibility, created the Haas Energy Challenge after being asked by the Dean's Staff Advisory Committee to help the school save energy.

This semester, Haas is branching out its green efforts by investigating ways to conserve water, buy more recycled products, and expanding waste programs so that compostable products actually get composted. Green Campus and Building Sustainability @ Cal, a program that uses students to help reduce the environmental footprint of campus buildings, will assign students from two energy classes on campus to advise Haas on its efforts.

At the same time, Gerardo Campos, the school's manager of facilities and building operations, just received a grant from the Chancellors' Advisory Committee on Sustainability to hire another student intern to help him investigate the possibility of receiving a green building-certification through a program managed by the US Green Building Council.

Haas Ranked 7th Best Business School for Hispanics

The Haas School placed seventh this year in a ranking of the top 10 business schools for Hispanic students compiled by Hispanic Business magazine.

The survey, published in the magazine's September 2008 issue, ranks business schools based on percentage of MBA degrees earned by Hispanics, Hispanic faculty, and Hispanic student enrollment. Haas ranked fifth in Hispanic Business last year.

To see the ranking, visit

MBA Students Travel World in Nonprofit Internships

Twelve Berkeley MBA students who landed nonprofit internships this summer gained a rich set of experiences, from improving pediatric AIDS treatment systems in Uganda to advising entrepreneurs in Brazil. They were aided by $54,500 from their classmates and other donors.

The Haas for Students campaign asked MBA students with corporate internships to donate a day's pay to their peers pursuing careers in the nonprofit sector. That gave a dozen students the freedom to work for organizations that couldn't afford to pay them a salary that is competitive with peers in the private sector.

Erik Brown, MBA 09, said the Haas for Students grant helped alleviate any reservations he had about interning with Oakland-based Aspire Public Schools, the state's largest charter school management organization. He spent the summer writing a business plan for a nonprofit startup that received funding to help charter schools coordinate special education.

"As a former management consultant and 7th grade math teacher, I've known I wanted to work in K-12 education for a while, but it's still a tough sacrifice when you know how much money you are potentially turning down," Brown said. "I'm excited to continue working in education full time in a finance and operations role."

Other students traveled across the globe. Melissa Higbie and Charlene Chen, both MBA 09, spent the summer in Africa. Chen, who plans to work in international development, consulted with an Internet startup in Ghana through Good Morning Africa, which fosters social entrepreneurship on the continent. Higbie analyzed the markets for blood chemistry instrumentation for the Clinton HIV/AIDS Initiative in Uganda.

Additional Haas for Students grants went to:

Melanie Oei, Education Pioneers/Oakland Unified School District
Amy Andre, Altcinema Films
Jessica Lopatka, REDF/Clean City
Roxanne Miller, Unitas
Wellesley Fraser, Education Pioneers/WestEd
Aaron Firestone, Pogo Park
Victor Ortiz, PlaNet Finance, Mexico
Jose Pereira, Endeavor Brazil
Yang-Yang Chen, Headwaters Economics

Haas for Students is administered by the Center for Nonprofit and Public Leadership. For more information, see

Staff News

Jo Mackness Named New Executive Director of Center for Responsible Business

The Haas School has hired alumna Jo Mackness of Ernst & Young to lead the Center for Responsible Business (CRB) as its new executive director

Mackness, MBA 04, was most recently the corporate responsibility integration leader at Ernst & Young, where she worked to embed socially responsible thinking and action into core firm activities and to identify and execute on new opportunities that a responsible perspective brings. She is a strong supporter of environmental sustainability and was integral to the creation of a new function focused on minimizing Ernst & Young's environmental footprint.

Prior to Ernst & Young, Mackness was a human capital consultant working in the United States and the UK, primarily serving professional services and financial services firms on transactions, corporate governance, and executive compensation issues.

Mackness has worked closely with the Center for Responsible Business since its inception in 2003 -- both as a corporate sponsor and most recently as the instructor for the Strategic Corporate Social Responsibility and Consulting Projects course. Mackness is also a national board member of Net Impact, a network of new leaders who are using the power of business to make a positive net social, environmental, and economic impact.

While she is already teaching on campus, Mackness officially takes over the center's reins on Sept. 15.

Outgoing CRB Executive Director Kellie McElhaney will remain very much involved in the center as a member of its faculty board and a co-faculty director. Under McElhaney's leadership CRB led the Haas School to be ranked the #1 MBA program in corporate responsibility by the Financial Times and #2 by the Wall Street Journal.

Tenny Frost Takes on New Annual Fund Role at Haas

Tenny Frost, who built up the Haas Alumni Relations team as director and executive director, has been promoted to executive director of alumni relations and annual giving.

In her new role, Frost will work closely with both Leslie Kanberg, director of Alumni Relations, and a new director of the Annual Fund to develop strategies, synergies, and support for the Alumni Relations and Annual Fund units. Frost has been a dedicated member of the Haas Alumni Relations team since 1994.

"Tenny has proven to be an effective manager with a focus on teamwork, results, and customer service," says Larry Lollar, assistant dean, development and alumni relations. "Tenny's passion for the Haas School -- which she has demonstrated again and again -- will serve us well as she expands her duties to include the Annual Fund."

Katherine Andre Joins Full-Time MBA Admissions

The Full-Time MBA Admissions Office welcomed Katherine (Katie) Andre as a new admissions advisor on Sept. 2.

Andre comes to Haas from the University of Chicago. She earned a master's degree in higher education administration from the University of Illinois. Outside of work, Andre enjoys traveling, outdoor activities, and reading.

Phone: 643-1124
Office: S430

Kristen Berzon Hired as Lester Center Program Manager

Kirsten Berzon joined the Lester Center for Entrepreneurship and Innovation Sept. 2 as its new program manager. Berzon will have oversight of a number of Lester Center programs and events, including the Berkeley Entrepreneurs Forum and the student-led Berkeley Business Plan Competition and Entrepreneurs Association. She will also serve as the center's marketing and communications coordinator.

Berzon comes to Haas from Dominican University, where she served as assistant director of events and conferences. She also worked at the Berkeley Rep and has a degree in community studies from UC Santa Cruz. In her spare time, she enjoys spending time with friends, volunteering, and walking her dog.

Phone: 643-9340
Office: F463

Kristin Bruington Joins Dean Suite Admin Staff

Kristin Bruington was hired Aug. 4 as the new administrative assistant to Jennifer Chizuk and Alice Kubler.

Bruington has more than seven years of experience providing administrative support in a fast-paced environment. She comes to Haas from Heartwood Studios, where she served as the executive assistant to the CEO. Her professionalism, strong organizational skills, and natural attention to detail distinguished her in the large applicant pool.

While working, Bruington earned a bachelor's degree in psychology with a minor in business from Washington State University's Distance Degree Program. Her outside interests include football, concerts, and traveling.

Phone: 642-2366
Office: S522

Melissa Raz Joins Alumni/Development Staff

Melissa Raz joined the Alumni Relations and Development Department on Aug. 22 as the new assistant director of corporate and foundation relations.

Some of the priority projects Raz will be focused on include the school's Annual Report of Giving, The Haaski Open, and the Haas Investors Newsletter (to be launched in 2009). Additionally, Raz will provide leadership for prospect research, proposal development, and stewardship with corporations and foundations.

Before joining Haas, Raz worked as business manager for the Office of External Relations and Development at Columbia Business School. Prior to that, she worked for the Deming Center at Columbia Business School as center coordinator. Her experience also includes teaching classical voice at Whitman College and singing opera professionally. She earned a BA degree in English from Yale University and a MM degree in voice from Rice University.

When she's not working, Raz enjoys singing, running, tennis, reading, and culinary adventures.

Phone: 642-2844
Office: 2001 Addison Street

Haas in the News - As of 9/8/08

The Dow Chemical Company Foundation's donation to support sustainability at UC Berkeley was featured in a September 4 segment titled "Dow gives substantial grand to UC Berkeley" on NBC 25 in Michigan.

James Wilcox, professor of finance and economic analysis and policy, was featured on September 4 in a Channel 2 interview.

Laura Tyson, a professor in the business and public policy group, was interviewed about the economy September 2 on the Colbert Report.

Laura Kray, associate professor of management philosophy and values, and Connson Locke, Ph.D. 07, were featured on their study of negotiating by flirting in a September 2008 issues of HR Magazine, in an article titled "Why it Hurts to Flirt."

Wilcox was interviewed September 2 on KPIX Channel 5 for a segment about imports and the economy.

Terrance Odean, a professor in the Haas Finance Group, was quoted about switching brokers in a September 1 article in Wealth Bulletin titled "UAE investors twice as likely to switch wealth manager as British."

Dean Richard Lyons was featured on his goals to improve student experiences in a September 1 Contra Costa Times article titled "UC Berkeley Dean is in the Business of Developing Business Leaders."

Abby Scott, executive director of MBA career services, was quoted on the boom of hired MBAs in an August 29 San Francisco Business Times article titled "MBAs have boom year despite economic blahs."

Wilcox was interviewed about FDIC and the safety of bank deposits on August 28 by Channel 5 News in an segment titled "ConsumerWatch: Are your Bank Deposits Insured?"

Jo-Ellen Pozner, assistant professor in the Organizational Behavior and Industrial Relations Group, was featured on her research about social mechanisms and penalizing board directors in an August 27 NewsBlaze article titled "Board of Directors Face Uncertain Futures When Companies Restate Earnings."

A story titled "Blue Vector's Senior Vice President and Managing Director Honored for Extraordinary Contribution in Entrepreneurship" on Sridhar Ranganathan, MBA 96, being honored for his contribution in entrepreneurship by the South Indian Education Society appeared August 27 in an article in Centre Daily Times in Pennsylvania.

Nora Silver, director of the Center for Nonprofit and Public Leadership, was quoted on social entrepreneurs and larger companies in an August 27 Christian Science Monitor article titled "Doing well by doing good? It's not easy."

Tyson was interviewed in an August 26 Online NewsHour article titled "Denver Offers Testing Ground for 'Obama-nomics.'"

Ken Rosen, a professor of real estate and urban economics, was quoted about the recovering housing market in an August 26 San Francisco Chronicle article titled "Home Sales in State Soar as Prices Plunge."

Severin Borenstein, director of the UC Energy Institute and professor of business administration and public policy, was quoted on the economics of gas prices in an August 25 Fund Strategy article titled "Over a Barrel."

Tyson was featured on her participation in "America's Town Hall" in an August 25 MarketWatch article titled "Convention 2008: 'America's Town Hall' to Answer Questions Directly from American Voters."

Peter Johnson, director of Full-Time MBA admissions, was quoted on the increasing amount of applications for admissions in an August 22 East Bay Business Times article titled "Dim Job Prospects Help Swell East Bay Colleges."

Catherine Wolfram, a member of the Haas Economic Analysis and Policy Group, and her study of MBA graduates becoming at-home moms were featured in two articles:

+ "More MBA Moms Opt Out," August 22, Walletpop

+ "MBA Moms Most Likely to Opt Out," August 21, BusinessWeek

Happening at Haas

Dean's Speaker Series
Jeff Immelt,
CEO, General Electric

Tuesday, September 9
7:30 p.m.
Arthur Andersen Auditorium

International Business Development Conference
Friday, September 26
8:30 a.m. to 5:00 p.m.
Arthur Andersen Auditorium
For more information visit

Net Impact - Social Impact Week
September 29 to October 3
The program will include a Social Impact Careers 101 session, an alumni cocktail reception, a corporate social responsibility debate, and an inter-grad school science fair.


Berkeley Entrepreneurs Forum
The Halo Effect: Pitfalls to Entrepreneurial Success
Philip Rosenzweig, Winner of California Management Review's Accenture Award
Thursday, September 25
6:30 p.m. to 8:30 p.m.
Bank of America Forum and Andersen Auditorium
For more information and to register, visit

Corporate Innovation and Open Innovation: Executive Education Program
September 15 to September 19
8:00 a.m. to 5:00 p.m.
The Lester Center for Entrepreneurship and Innovation is partnering with the Center for Executive Education to bring Corporate Entrepreneurship and Open Innovation Executive Education Program. For more information and to register, visit

For more information, contact Donna Seaward at

Matthew Shum (California Institute of Technology)
Nonparametric Identification of Dynamic Models with Unobserved State Variables

Thursday, September 11
4:00 p.m. to 5:30 p.m.
Cheit Hall 250

Song Yao (Duke University)
A Dynamic Model of Sponsored Search Advertising

Wednesday, September 17
4:00 p.m. to 5:30 p.m.
C250 Cheit Hall

Yakov Bart (Haas School)
Multiproduct Competition and Demand Complementarity

Thursday, September 18
4:00 p.m. to 5:30 p.m.
C250 Cheit Hall

For more information, contact June Wong at

Sudipto Bhattacharya (London School of Economics and MIT)
Control Rights over Intellectual Property: Corporate Venturing and Bankruptcy Regimes (with Sergei Guriev, New Economic School)
Thursday, September 11
4:10 p.m. to 5:40 p.m.
C210 Cheit Hall

Sydney Ludvigson (New York University)
Topic TBA
Thursday, September 18
4:10 p.m. to 5:40 p.m.
C210 Cheit Hall

For more information, contact Clifford Mak at

Gavin Kilduff, OBIR doctoral student, Haas School
Wednesday, September 10
4:00 p.m. to 5:30 p.m.
C330 Cheit Hall

Christine Beckman, Visiting Professor, Haas School
The Paul Merage School of Business, UC Irvine
Wednesday, September 17
4:00 p.m. to 5:30 p.m.
C330 Cheit Hall

John Wilbanks, Vice President, Science Commons
Wednesday, September 10
4:00 p.m. to 5:30 p.m.
Hearst Mining and Minerals Building, Room 290

Carol Mimura, Ph.D., Assistant Vice Chancellor for Intellectual Property and Industry Research Alliances (IPIRA), UC-Berkeley
Wednesday, September 24
4:00 p.m. to 5:30 p.m.
Hearst Mining and Minerals Building, Room 290

The Oliver E. Williamson Seminar on Institutional Analysis

Luis Rayo (Chicago GSB)
Signaling Under Imperfect Competition
Thursday, September 11
4:10 p.m. to 6:00 p.m.
C325 Cheit Hall

John Asker (NYU Stern)
A Study of the Internal Organization of a Bidding Cartel
Thursday, September 18
4:10 p.m. to 6:00 p.m.
C325 Cheit Hall

Justin O'Brien, Australian National University
Re-arranging Deckchairs on the Titanic? The Future of Financial Regulation
Monday, September 22
12:40 p.m. to 1:40 p.m.
2240 Piedmont, located behind Boalt Hall

Berkeley Center for Law, Business, and Economy
Executive Compensation Workshop: Rethinking Pay for Performance
Friday, September 26
8:25 a.m. to 1:15 p.m.
Goldberg Room, Boalt Hall
Attendance by registration only. Register at


LGBT Business Plan Loan Factory Workshop: The Abbreviated Business Plan
Tuesday, September 9
8:00 a.m. to 10:00 a.m.
The San Francisco LGBT Community Center, 1800 Market Street @ Octavia, San Francisco
To register, e-mail or call (415) 865-5611

Los Angeles Chapter Monthly Board Meeting
Tuesday, September 9
7:00 p.m. to 9:00 p.m.
Challenger, Gray & Christmas, Wachovia Building, 11601 Wilshire Blvd, Suite 500, Brentwood
RSVP: email Sherman Chin at

"How It All Began: Successful Entrepreneur Series" with Sir Martin Sorrell
Wednesday, September 10
6:30 p.m. to 9:00 p.m.
London Business School, Park Road, NW1 4 SA, London
RSVP: Please return the reservation form to

"Follow a More Authentic Career Path"
Wednesday, September 10
6:30 p.m. to 9:30 p.m.
Fort Mason Center, San Francisco
Cost: $75

Speed Mentoring Student/Alumni Mixer
Thursday, September 11
6:00 p.m. to 8:00 p.m.
UC Berkeley Faculty Club, Seaborg Room
RSVP.: Parag Bhatt at

Berkeley-Columbia Alumni Chapter Monthly San Francisco Happy Hour
Thursday, September 11
6:00 p.m. to 8:00 p.m.
Gordon Biersch, 2 Harrison St., San Francisco

Barbecue at Bulldog Pub
Thursday, September 11
8:00 p.m. to 11:15 p.m.
Bulldog Pub, Ginza 3-1, Ginza INZ #1, 2F
For more information, contact Hidenori Fugii at

4th Annual Berkeley-Columbia MBA Gala
Saturday, September 13
6:30 p.m. to 11:30 p.m.
Claremont Resort and Spa, 41 Tunnel Road, Berkeley
Registration closes on September 10. Register at
Cost: $120 per person for alumni and guests, $100 per person for current students and guests.

LGBT Business Plan Loan Factory Workshops: PR & Marketing Plan
Tuesday, September 16
8:00 a.m. to 10:00 a.m.
The San Francisco LGBT Community Center, 1800 Market Street @ Octavia, San Francisco
Register: e-mail or call (415) 865-5611

Second Annual "Taste of Haas"
Wednesday, September 17
6:00 p.m. to 9:00 p.m.
Williams-Sonoma Union Square Store, 340 Post Street, San Francisco
Cost: $75 per person
Attendees will receive a $25 gift certificate good at any Williams-Sonoma store and receive a 10% discount for purchases made at the event.

Feed the Bears Alumni Dinner
Wednesday, September 17
6:30 p.m. to 10:00 p.m.
COAST at Shutters on the Beach, 1 Pico Blvd, Santa Monica
Cost: $36 (includes 3-course dinner, tax, and 18% gratuity; does not include drinks)

Discussion with Victoria Legge-Bourke, "The Art of Self Presentation"
Thursday, September 18
6:30 p.m. to 9:00 p.m.
London Business School, Park Road, NW1 4 SA, London
RSVP: Please return the reservation form to

Finance Supper Club
Thursday, September 18
7:00 p.m. to 9:00 p.m.
Vig 27, 119 E. 27th Street, New York

First Annual Friends and Family of the Haas School of Business Potluck Style BBQ
Saturday, September 20
11:00 a.m. to 2:00 p.m.
Gasworks Park, 2101 N. Northlake Way, Seattle

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