Haas School to Dedicate Barbara and Gerson Bakar Faculty Building, Oct. 29

Barbara and Gerson Bakar Faculty Building

The Haas School will dedicate the Barbara and Gerson Bakar Faculty Building on Monday, October 29 in the Bank of America Forum. The ceremony will celebrate Haas and honor Barbara and Gerson Bakar, BS 48, for their generosity towards the school.

All faculty, staff, and students are invited to attend the ceremony, which will take place from 12:30 p.m. to 1:15 p.m. Light refreshments will be served following the dedication. The dress will be business casual.

For more information on the Bakars' recent gift to the Haas School, please visit http://www.berkeley.edu/news/media/releases/2007/10/10_Bakar.shtml.

Berkeley MBA Jumps to #4 in Beyond Grey Pinstripes Survey

The Full-time Berkeley MBA Program jumped seven places from #11 in 2005 to #4 in the world in the 2007 Beyond Grey Pinstripes survey, published by the Aspen Institute on October 10. Among US schools, Haas ranked #3.

The Beyond Grey Pinstripes survey aims to capture business schools' abilities to integrate social and environmental management into their teaching and research. The ranking equally weighs four areas of the business school experience.

Haas ranked as follows in these four areas:

- #1 in course content that explicitly addresses the role of mainstream business in improving social and environmental conditions;
- #4 in student opportunity to take such courses
- #5 in faculty research that explores these topics and has been published in one of 94 academic journals selected by Aspen Institute; and
- #32 for student exposure, which measures teaching hours dedicated to social and environmental management and the proportion of the student body taking such courses.

The ranking is based on an extensive school questionnaire.

For the full report, go to http://www.beyondgreypinstripes.org.

MFE Internship Salaries Up 12% above Last Year

Sixty-four Master's in Financial Engineering (MFE) students began their winter break internships last Monday, earning an average monthly salary of $8,157, up 12% above last year.

All MFE students seeking internships have been placed and will work through the 10- to 12-week MFE winter break, from mid-October to mid-January. The students have taken on challenging roles in active equity research, credit modeling, credit derivatives, fixed income structuring, derivatives trading, portfolio management and pricing, foreign exchange option desk, and hedging strategies. Thirty are working in New York, seventeen are working in the San Francisco Bay Area, four in London, and nine in Asia.

The interns were snapped up by companies including Barclays Global Investors, BNP Paribas, Citi, Duff & Phelps, Goldman Sachs, JPMorgan Chase, Lehman Brothers, Mellon Capital, Merrill Lynch, Moody's KMV, Morgan Stanley, MSCI Barra, PMI, Shinsei Bank, Standard & Poor's, UBS, and WR Hambrecht.

Linda Kreitzman, executive director of the MFE Program, and MFE Account Manager Nebil Gali oversee the placement process, ensuring the right match between students and companies and working to bring new firms into the program.

"Wall Street firms and other firms around the world look forward to the fall because of the significant contributions our students make during their internships," Kreitzman says. "Because we have a reputation for being able to source outstanding and well-rounded candidates in a short timeframe, the demand for Haas MFE candidates is stronger than ever."

For more information on the MFE program, visit http://mfe.haas.berkeley.edu/.

Strong Job Market Greets MBA Class of 2007

A strong job market greeted members of the Berkeley MBA class of 2007, with more than 95% of them securing positions within three months of graduation, according to MBA Career Center data released on October 1, 2007.

Average starting salaries are up again this year over last year, with a mean base salary of $101,859 and a median of $100,000. A large percentage of students also received substantial signing bonuses, of $20,272 on average.

The top employers of this year's Berkeley MBA class include Google, Bain & Company, Bank of America, Deloitte Consulting, Abbott Laboratories, Citi, McKinsey & Company, and Yahoo! Graduates have also gone to work for Apple, Chevron, Boston Consulting Group, Goldman Sachs, Cisco, and Samsung.

Top functions for the 2007 graduates include finance (36%), marketing and product management (23%), consulting (18%), and general management (18%). Top industries include technology (28%), financial services (23%), and consulting (18%).

Berkeley MBA Students and Haas School Faculty Create Center for Environmental Innovation

A team of Berkeley MBA students have partnered with Haas School professors to create the Center for Energy & Environmental Innovation (CEEI), a new cross-disciplinary center promoting viable global energy solutions.

Created through the Management of Technology program, CEEI serves as a bridge between the Berkeley Energy & Resources Collaborative, the College of Engineering, the School of Law, the Goldman School of Public Policy, the College of Natural Resources, Lawrence Berkeley National Laboratory, the department of Molecular and Cell Biology, the College of Chemistry, the College of Environmental Design, the Energy and Resources Group and the proposed Energy Biosciences Institute.

"The idea is to make Berkeley the premier institution for graduate students and faculty members who are interested in studying energy commercialization issues," says Haas Associate Professor Catherine Wolfram, who is the co-executive director of CEEI.

The center evolved out of the Berkeley Energy & Resources Collaborative (BERC), a two-year-old campus club formed to help students gain experience in the energy sector through career services, real-world project opportunities, and support for student innovation. BERC membership quickly grew to over 400, spurring its Berkeley MBA founders to seek funding and faculty guidance to establish a sustainable energy academic program.

"The students wanted to make an impact right away by accelerating the solutions from the lab and research spaces into the public and private sectors where the results could be realized," says Jit Bhattacharya, MBA 08, who participated in the launch of CEEI. "Energy is very much an interdisciplinary field and the center will foster collaboration between the various organizations at Berkeley that are studying energy solutions."

Last March, the MBA students were awarded $4,000 in the "Bears Breaking Boundaries," a competition in which students submit solutions for a broad range of global issues, including science policy and clean energy, to establish a sustainable energy academic program. The center opened in September and is focused on developing the next generation of energy leaders, increasing collaboration between energy disciplines around campus, and accelerating the commercialization of clean energy technologies.

For more information visit http://ceei.berkeley.edu.

Research Spotlight: Asking the Boss for a Raise

Waiting until your boss is in a good mood to ask for a raise may be a popular strategy, but what if the boss knows you know she is a good mood?

Eduardo Andrade, an assistant professor of marketing, and Teck-Hua Ho, the William Halford Jr. Family Professor of Marketing, recently examined this question in an experiment at Berkeley's XLab.

The pair found evidence that employees are more likely to ask for a raise if their boss's mood is good. However, that behavior changes substantially if the boss knows that the employee is aware that the boss is in a good mood, the researchers discovered. They outlined their results in an article titled "How is the Boss's Mood Today? I Want a Raise," in the August issue of Psychological Science.

"We were actually surprised by how much participants did take into account other people's feelings before making a move," Andrade said.

In their experiments, Andrade and Ho divided 122 students into two groups -- "proposers" and "receivers" -- and asked them to decide how to share a small amount of money with each other.

Proposers, whose role was equivalent to an employee asking for a raise, got to suggest how to divide the pot: either split it in half 50%-50% or keep 75% and give just 25% to their matched receiver. Receivers, whose role was equivalent to the boss, got to decide the size of the pot, any amount between $0 -- fully rejecting the offer -- and $1 -- fully accepting the offer.

Before making their choice, proposers were told whether their matched receiver watched a film clip that made them either happy or angry.

When proposers knew their receiver watched a funny sitcom, nearly 70% had the confidence to propose an "unfair" offer (keeping 75% of the money). The percentage dropped to 52% when proposers knew their partner had watched an angry clip prior to the game. However, when proposers were told that their receiver knew the proposer was aware of the receiver's mood, the percentage of unfair offers to receivers who had watched a happy clip fell significantly -- to 55%. That was about the same as the percentage of unfair offers to receivers who watched an angry clip.

Translating their findings to the workplace, Ho explains: "Employees have an intuition that a boss would react negatively to an attempt to profit from her good mood."

To read Andrade and Ho's article "How is the boss's mood today? I want a raise," visit http://papers.ssrn.com/sol3/papers.cfm?abstract_id=957641.

Haas School Conference Explores How to Drive Innovation in Business, Nov. 17

Executives charged with harnessing innovation to grow business will take part in a rich dialogue with professors who study it at Inside Innovation 2007, an inaugural Haas School of Business conference on November 17.

The all-day event will highlight new Haas faculty research on the role of innovation in business. Panel sessions will cover a range of topics, from commercializing new ideas to the intersection of innovation and globalization. Inside Innovation 2007 celebrates the 50th anniversary of California Management Review, the Haas School's peer-reviewed practitioner journal.

The conference is presented by Accenture and is also sponsored by Deloitte. Its organizers include the Haas School's California Management Review, the Management of Technology Program, and the newly established Institute for Business Innovation.

To register and for more information, go to http://insideinnovation.haas.berkeley.edu/.

Berkeley-Columbia Ranked in Financial Times for the First Time

The Berkeley-Columbia Executive MBA Program ranked #18 among programs worldwide in the first ranking of executive programs the school has participated. Among US-based executive MBA programs offered in the US, the Berkeley-Columbia program ranked #5.

The Berkeley-Columbia program was ranked the program #7 by alumni in terms of having achieved their aims, and #8 in terms of faculty research.

The Financial Times ranking is based in part on data provided by participating schools. About 50% of the ranking is based on a survey of alumni from the Class of 2004.

The full survey results are available at http://www.ft.com/businesseducation.

Faculty News

James Wilcox Receives Economics Award for Paper on Forecasting Consumption

Professor James Wilcox received the 2007 Edmund A. Mennis Contributed Paper Award from the National Association for Business and Economics (NABE) at its 49th Annual Meeting in San Francisco in September.

Wilcox, the Kruttschnitt Family Professor of Financial Institutions, won the award for his working paper titled "Forecasting Components of Consumption with Components of Consumer Sentiment." Wilcox presented the paper at NABE's annual meeting, and NABE will publish the paper in its quarterly journal, Business Economics.

In the paper, Wilcox presents new evidence that long-available, but long-ignored, measures of consumer sentiment can reduce errors in forecasting total consumption and its components and thus improve forecasts of expenditures on durable goods and nondurables and services.

Haas in the News

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was quoted in an October 16 KCBS story titled "Gas Prices Climb as Crude Soars," about recent gas price hikes. For the full story: http://www.kcbs.com/pages/1097566.php.

Peter Johnson, executive director of Full-time MBA Admissions, was interviewed in an October 15 BusinessWeek article titled "Finding the Best Fit at Berkeley" about how to determine an applicant's fit with the Haas School. For the full interview: http://www.businessweek.com/bschools/content/oct2007/bs20071015_525249.htm

The Haas School and numerous professors were widely mentioned in the October 13 Economist's special report on innovation.

Jonathan Berk, the Sylvan C. Coleman Chair in Finance & Accounting, was quoted in an October 13 StreetInsider article titled "New, $100,000 Prize Created to Honor Finance and Economics Legend Stephen A. Ross." For the full text: http://www.streetinsider.com/Press+Releases/New,+$100,000

Kellie McElhaney, executive director of the Center for Responsible Business, was mentioned in an October 13 Napa Valley Register article titled "All business is global" about the impact of globalization on businesses.

Terrance Odean, the Willis H. Booth Chair in Banking and Finance I, was mentioned in an October 13 Business Standard article titled "Pride goes before a fall" regarding his 1998 study on the hazardous impact trading has on wealth. For the full text: http://www.business-standard.com/smartinvestor/storypage.php?leftnm=0&subLeft=2&chklogin=N&autono=301196&tab=r

Professor Laura Tyson was mentioned in several news outlets regarding the threat of protectionism to technological progress:
+ October 13 Washington Post article titled "Tech CEOs seek U.S. immigration, regulation overhaul." For the full text: http://www.washingtonpost.com/wp-dyn/content/article/2007/10/13/AR2007101300037_pf.html
+ October 12 San Francisco Chronicle article interview with Charlie Rose titled "Charlie Rose talks to Silicon Valley leaders about political protectionism." For the full text: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/10/12/BUDFSOJ59.DTL&hw=laura+tyson&sn=001&sc=1000
+ October 12 Investor's Business Daily article titled "A Lack of Tech-Friendly Policies Means U.S. Could Lose Its Lead."

Eduardo Andrade, assistant professor, was mentioned in an October 11 ABC7 story titled "New UC Berkeley Study Reveals Horror Films Secrets." For the full story: http://abclocal.go.com/kgo/story?section=entertainment&id=5703304

The Haas School was mentioned in an October 11 Financial Times article about its #4 ranking of the Full-time Berkeley MBA Program in Beyond Grey Pinstripes ranking, a biennial ranking conducted by Aspen Institute to measure how well business schools teach social and environmental management. For the full article: http://www.ft.com/cms/s/2/079f6ef2-7801-11dc-8e4c-0000779fd2ac,dwp_uuid=02e16f4a-46f9-11da-b8e5-00000e2511c8.html

The $25 million gift from Barbara and Gerson Bakar, BS 48, was mentioned in the following news outlets:
+ October 11 Daily Californian article titled "Haas Redirects $25 Million Gift After Donor Reveals Himself." For the full article: http://www.dailycal.org/sharticle.php?id=26379
+ October 10 Berkeleyan article titled "Largest-ever gift to Haas School of Business is announced." For the full text: http://www.berkeley.edu/news/berkeleyan/2007/10/10_haasgift.shtml
+ October 10 San Francisco Business Times article titled "Berkeley's business school gets $25M gift for five new faculty." For the full article: http://washington.bizjournals.com/sanfrancisco/stories/2007/10/08/daily29.html

Barry Staw, Lorraine Tyson Mitchell Professor in Leadership and Communication, was mentioned in an October 8 Wall Street Journal article titled "Software Firms Learns the Rules of Disengagement," regarding ways to energize employees and spur activity. For the full text: http://online.wsj.com/public/article/SB119179859820351674.html

Professor Mark Rubenstein was mentioned in an October 8 Financial Week article titled "Plus ca change: Players remember Black Monday," about the parallels between Black Monday and the recent stock market crash. For the full text: http://www.financialweek.com/apps/pbcs.dll/article?AID=/20071008/REG/71004022/1006/BANKING

Christine Rosen, associate professor, was interviewed in an October 4 NPR broadcast titled "Online Social Networks No Longer Just for Teens," about social networking and youth. For the full interview: http://www.npr.org/templates/story/story.php?storyId=14993512

Happening at Haas

"Current and Emerging Intersections"
Saturday, October 27
8:00 a.m. to 7:00 p.m.
Haas School
The play conference explores how technologies and ideas are coming together from disparate fields and functions to create new business models.
For full schedule and other information, visit http://www.playconference.org/index.html.
To register, visit http://play2007.eventbrite.com.

Friday, November 2
6 p.m. to 10 p.m.
Ritz-Carlton Hotel
600 Stockton St.
San Francisco
To register, visit http://www.haas.berkeley.edu/alumni/haasgala.


SHANGHAI ALUMNI - California Wine Tasting
Monday, October 22
7:00 p.m. to 9:00 p.m.
Moca Cafe
People's Park
231 Nanjing W. Rd.
Shanghai alumni are cordially invited by the Office of the President and the California Wine Institute to attend a California wine tasting.
To RSVP, email events@ucop.edu.

SEOUL ALUMNI - California Wine Tasting
Wednesday, October 24
7:00 p.m to 10:00 p.m.
Once In A Blue Moon
85-1 Chungdam-dong
Seoul alumni are cordially invited by the Office of the President and the California Wine Institute to attend a California wine tasting.
To RSVP, email events@ucop.edu.

TAIPEI ALUMNI - California Wine Tasting
Thursday, October 25
6:30 p.m. to 8:30 p.m.
Capone's Live Bar and Restaurant
No . 312, Chunghsaio E. Road, Section 4
Taipei alumni are cordially invited by the Office of the President and the California Wine Institute to attend a California wine tasting.
To rsvp, email events@ucop.edu.

SOUTH BAY ALUMNI - First Annual South Bay "Area Dinner"
Thursday, October 25
6:30 p.m. to 9:30 p.m.
FaultLine Brewery
1235 Oakmead Parkway
South Bay alumni are cordially invited to join fellow Evening & Weekend MBA and Berkeley-Columbia Executive MBA students for a night of drinks, dinner, and networking.
To register, please complete the following survey: http://www.surveymonkey.com/s.aspx?sm=Iq_2bYOY4aJYto2urCJJV6yg_3d_3d.

Thursday, October 25
7:00 p.m. to 9:00 p.m.
Brewerkz Restaurant & Microbrewery
30 Merchant Road #01-05/06
Riverside Point
Singapore 058282
Singapore alumni are cordially invited to relax, catch up with old friends, and meet new friends.

SOUTH BAY ALUMNI - 10th Annual Venture Capital Roundtable
Monday, October 29
5:00 p.m. to 9:00 p.m.
MacArthur Park Restaurant
27 University Ave
Palo Alto
South Bay alumni are cordially invited to attend the Haas Venture Capital Alumni Network, followed by the 10th Annual Venture Capital Roundtable (VCRT).
To register, visit http://tinyurl.com/2lcpne.

HONG KONG HAAS ALUMNI - Luncheon with Claudo Fernandes-Araoz
Wednesday, October 31
12:30 p.m. to 2:15 p.m.
China Club
Hong Kong
Haas alumni are cordially invited to a luncheon where Claudio Fernandez-Araoz, the author of Great People Decisions: Why They Matter So Much, Why They Are so Hard, and How You Can Master Them, will be speaking about his new book.
To RSVP, email Ameila Kwok at Amelia.kwok@ezi.net.

For more information, contact Donna Seaward at

Shansby Marketing Seminar
Salar Jehedi, Dept. of Economics, UC Berkeley
Thursday, October 25
4:00 p.m. to 5:30 p.m.
C250 Cheit Hall

Shansby Marketing Seminar
Michal Strahilevitz, Golden State University
Thursday, November 1
4:00 p.m. to 5:30 p.m.
C250 Cheit Hall

For more information, contact Deborah Houy at

Connson Locke, PhD candidate, Haas School of Business
Wednesday, October 24
4:00 p.m. to 5:30 p.m.
C320 Cheit Hall

Elizabeth Mullen, Assistant Professor, Graduate School of Business, Stanford University
Wednesday, October 31
4:00 p.m. to 5:30 p.m.
C320 Cheit Hall

For more information, contact June Wong at

"Testing Portfolio Efficiency with Conditioning Information"
Wayne Ferson (USC)
Thursday, October 25
4:10 p.m. to 5:40 p.m.
C210 Cheit Hall

Joint Stanford-Berkeley Finance Seminar
Thursday, November 1
2:30 p.m. to 6:00 p.m.
Stanford Graduate School of Business

For more information, visit http://groups.haas.berkeley.edu/imio/workshopf2007.htm.

The Oliver E. Williamson Seminar on Institutional Analysis
(formerly IDS270)
"Entrepreneurship, Intellectual Property and the Platform Paradox" Tim Simcoe (Toronto)
Thursday, October 25
4:10 p.m. to 6:00 p.m.
C325 Cheit Hall

The Oliver E. Williamson Seminar on Institutional Analysis
(formerly IDS270)
"Bureaucracy and Financial Markets" Victor Nee (Cornell)
Thursday, November 1
4:10 p.m. to 6:00 p.m.
C325 Cheit Hall

For more information, contact Maggie Smith at

Prof. Uday Karmarkar (UCLA)
"Competition and Structure in Serial Supply Chains with Deterministic Demand"
Friday, October 26
2:00 p.m. to 3:30 p.m.
C250 Cheit Hall

"How to Succeed in the California Land Use Wars - Sixteen Years and 1,600 Acres"
William Falik, Westpark Associates
Tuesday, October 23
12:40 p.m. to 1:40 p.m.
For more information and to RSVP, contact BCLBE@law.berkeley.edu or call Phyllis Martinez at 510-642-0532.

IP and Legal Issues
Tuesday, October 30
6:30 p.m. to 8:30 p.m.
Wells Fargo Room
Haas School
For more information, visit http://entrepreneurship.berkeley.edu/entbestpract.asp.

"New Opportunities for Health and Wellness"
Thursday, October 25
6:30 p.m. to 8:30 p.m.
Arthur Andersen Auditorium
The CEO and founders of Pharmaca and Dreamerz will participate in a lively discussion about how to start and grow companies in the packaged consumer product market and what drives the introduction of new and successful products in this market.
To register, visit http://www.acteva.com/booking.cfm?bevaID=144459&CFID=6882949&CFTOKEN=67716940

Updating Your Resume
Thursday, November 1
7:00 p.m. to 8:00 p.m.
Haas School
Explore the latest trends in resumes for mid- to senior level professionals. For more information and to register, please visit http://www.acteva.com/booking.cfm?bevaid=145106.

The Haas NewsWire is the bi-monthly electronic news publication 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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