Haas NewsWire

Haas NewsWire, September 10, 2001

Haas Ranks Fourth Again in US News Undergraduate Rankings
Arun Sarin and John Gage to Speak at the Leading Edge Conference
The Second of Six New Faculty Profiles: Chris Hennessy Joins the Finance Group
Haas in the News
Happening at Haas
Alumni Events

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The Haas School of Business ranked fourth for the second year in a row in the 2001 US News & World Report survey of undergraduate business school programs published today, September 10. In fact, the six top schools earned the same ranks they did last year.

The top ten programs and their scores (5.0 being the highest):

1. University of Pennsylvania (Wharton) 4.8
2. Massachusetts Institute of Technology (Sloan) 4.6
3. University of Michigan-Ann Arbor 4.6
4. University of California-Berkeley (Haas) 4.5
5. University of North Carolina-Chapel Hill (Kenan-Flagler) 4.3
6. University of Texas-Austin (McCombs) 4.3
7 Carnegie Mellon University 4.2
8. University of Virginia (McIntire) 4.2
9. Indiana University-Bloomington (Kelley) 4.1
10. New York University (Stern) 4.1
11. University of Illinois-Urbana-Champaign 4.1

"Once again, we are extremely pleased that the Haas undergraduate program is ranked among the top 4 undergraduate business programs by US News & World Report along with such esteemed institutions as Wharton, MIT, and Michigan," said Dan Himelstein, director of the Haas undergraduate program.

There are 350 accredited schools that offer undergraduate degrees in business, 48% of which responded to this survey. US News asked deans and senior faculty to rate the quality of all programs they are familiar with on a scale of 1 (marginal) to 5 (distinguished).

"This top-four ranking of the Haas undergraduate program means that US News & World Report recently ranked three Haas degree programs in the top ten -- Undergraduate, MBA, and Evening MBA," said Andy Shogan, associate dean of academic programs. "This is a tribute to the overall excellence of the Haas School's students, faculty, staff." The MBA program ranked 7th and the Evening MBA program ranked 8th in March of 2001.

US News also ranked several school-wide specialties or particular strengths of business programs. Here is how the Haas School faired this year:

Any school that offered any courses in a particular specialty was eligible to be ranked in that area. Deans and senior faculty of business schools nominated up to 10 of the best programs in each specialty area.

For a complete listing of the rankings, visit http://www.usnews.com/usnews/edu/college/rankings/rankindex.htm.

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The future of high tech comes to Haas in two weeks with the 4th Annual Leading Edge Technology Conference, "@ the intersection of business, technology, and leadership," which takes place on September 22.

The student-run Leading Edge Technology Conference sold out the last two years in a row and demand for this year's conference is expected to be just as high. Ticket sales are open to Haas MBA students and faculty, UC Berkeley students and faculty, alumni, and business community members. The price is $75 for general admission. Students currently enrolled at UC Berkeley are eligible for a discounted admission price of $50.

Please visit the conference's official website at http://www.TheLeadingEdge.org for the latest updates on ticketing and for the conference schedule.

On Saturday, September 22, the day begins with the Technology Futurists Forum, a chance to hear what some of the leading thinkers in Silicon Valley see as the next big thing for high tech. Forum participants include Bob Bauer, manager of the Advanced Systems Development Laboratory at Xerox PARC; John Gage, chief researcher and director of the Science Office at Sun Microsystems; and Robert Mittman, director of the Institute of the Future. Ned Desmond, editor and president of Business 2.0, will moderate.

Arun Sarin, MBA 78, MS 78, CEO of Accel-KKR Telecom, will give a keynote speech on the world of telecomm. Sarin is the former CEO of InfoSpace, Inc., and of the US and Asia Pacific regions of Vodafone. Keynote speaker Brian Bogosian, president and CEO of Visto Corporation, will also share his vision of technology.

After the forum, three sessions of panel discussion scheduled throughout the day will cover a broad range of topics led by some of the most outspoken and respected luminaries in their respective industries today. Topics include:

Participants will also be able to see innovation in action at the EdgeXpo Technology Fair, which will provide hands-on access to some of the newest technologies on the market today. The gadgets include the wireless technology currently being used at Giants games; MEMS technology; and interactive webcast technology. The current exhibitors list for EdgeXpo are:

Participants are encouraged to bring their handhelds to the event because the conference will be using WideRay's patented wireless technology to broadcast conference details to attendees.

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Christopher Hennessy joined the Finance faculty this fall fresh from Princeton University where he received his Ph.D. and served as a lecturer in Fall 2000. His research interests include how businesses are financed and how that affects decision making.

In his dissertation Hennessy discussed the way in which the choice of financing for a business (debt, equity, convertible debt, or equity warrants) affects investment policy. "I deal with two issues, the amount of investment and the riskiness of investment," says Hennessy. Businesses with higher amounts of debt are found to lower investment levels, particularly when the debt level is heavy enough to push the firm into lower bond rating categories. "My advice to lenders: don't think people are bad; they are worse than you think."

Hennessy believes that understanding what determines the investment policy of businesses is essential to fostering economic growth. "A major part of the reason why the US enjoys its high standard of living is that capital is plentiful," says Hennessy. "Capital remains plentiful despite high taxation of capital income in the US. I believe part of the reason is that the US has given investors superior protection in terms of stability of property rights and guarantees against managers running off with funds. Russia offers a clear demonstration of what happens if you do not anticipate and protect against perverse managerial incentives."

In addition to his Ph.D. in economics, Hennessy has a Masters of Public Administration from Princeton University. His BA is from Swarthmore College in economics and political science. Prior to pursuing his doctoral degree, he was a senior consultant in the Barents Group of KPMG Peat Marwick.

In spring 2002, Hennessy will teach Corporate Finance in the Masters of Financial Engineering Program and Corporate Finance in the Ph.D. Program. His office is located in F632, his phone number is 3-1900, and his e-mail is hennessy@haas.berkeley.edu.

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Michael Katz, the Edward J. and Mollie Arnold Professor of Business Administration, was mentioned in the San Francisco Chronicle on Sept. 7 in an article titled "Few See End to Antitrust Enforcement." Read it here.

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was quoted in the Sacramento Bee on the relationship between company shutdowns and increasing electricity costs on Sept. 6. Read the full article here: http://www.capitolalert.com/news/capalert01_20010906.html.

Andew Issacs, executive director of the Management of Technology Program, was quoted in the Los Angeles Times on Sept. 6 in an article about the meltdown of the dot-com industry. http://latimes.com/technology/la-000071914sep06.story.

Raymond Miles, professor emeritus and former dean, commented on the Hewlett Packard-Compaq deal in the San Francisco Chronicle on Sept 6. Read more here.

The Washington Times quoted James Lincoln, the Warren E. and Carol Spieker Professor of Leadership and the director of the Institute of Industrial Relations, in an article about Japan's rising unemployment titled "Rising joblessness threatens security," on Sept. 5. Read the full article here: http://www.washtimes.com/world/20010905-16007186.htm.

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