Business Networks - FIU College of Business

Depressed asset values may offer good opportunity for estate planning.

2009-03-13T12:08:00.000-05:00

When President Barack Obama submitted his budget blueprint to Congress on February 26, 2009, within its 140 pages appeared the administration’s proposal for estate taxes. If approved, the budget would freeze the estate tax exemption at the current level—$3.5 million per person, with the maximum tax rate of 45%—from 2010 on. According to Blaise M. Sonnier, assistant professor, School of Accounting in the College of Business Administration, now could be a prudent time for individuals to review their estate plans and consider transferring property—including real estate, stocks, bonds, and other investments—to their heirs.

“In 2000, the first $600,000 of property owned by a person was exempt from the federal estate tax,” he said. “In 2001, the amount was increased to $675,000, and it gradually increased to its current level of $3.5 million per person, which became effective on January 1, 2009.” Read more.

Improving the bottom line and the environment: Green Supply Chain Forum proves both are sustainable business goals.

2009-03-13T12:06:00.000-05:00

Today’s companies face the challenge of implementing environmentally sound operational practices while balancing growth and opportunity in what is clearly the most demanding business climate in decades.

The urgency of these issues sat top of mind among the attendees at the Green Supply Chain Forum held February 19-20, 2009, and hosted by the College of Business Administration and the college’s Ryder Center for Supply Chain Management.

According to Walfried Lassar, Ryder Professor and director of the Ryder Center, the forum drew more than 120 participants from the southeast, southwest, and northeast regions of the United States. Coming from Fortune 500 companies, smaller entrepreneurial companies, and government agencies, the attendees represented a wide range of industries with roles and responsibilities cutting across all aspects of supply chain management—including consulting, procurement, inventory, and logistics. Read more.

The view to 2030: ExxonMobil offers outlook on energy.

2009-03-13T12:01:00.000-05:00

Each year, to help prepare for the future energy marketplace, ExxonMobil develops The Outlook for Energy, providing an in-depth look at the long-term global trends for energy demand and supply, and their impact on carbon dioxide (CO2) emissions.

At the recent Energy Business Forum, Scott Nauman, manager for economics and energy in the corporate planning department for ExxonMobil, shared his company’s assessment of the global energy outlook to 2030. More than 150 representatives of the academic, student, and energy industry communities attended the forum, which was held on February 27, 2009, in the College of Business Administration’s Special Events Center.

“The Outlook for Energy forecast is underpinned by economic and population projections as well as our expectations for energy-efficiency gains from the deployment of advanced technologies and adoption of better energy-management practices,” Nauman said. Read more.

The good, the bad, and the ugly: Wertheim lecturer examines ailing U.S. health care system.

2009-03-13T11:57:00.001-05:00

What are we going to do about our health care system?

It’s a question being raised throughout South Florida and across the United States—from kitchen table to conference room table. The right answer is not easy to come by—but pinpointing problem areas offers a valid starting place.

In a recent Wertheim Lecture, Brian E. Keeley, president and chief executive officer, Baptist Health South Florida, identified the top three health care issues demanding attention: access, quality, and cost.

“The reality is, our national health care system is broken,” Keeley said. “It needs a comprehensive fix...not just a tweak.” Read more.

Budding financial analysts put their knowledge into practice.

2009-03-13T11:55:00.000-05:00

At no time in recent history has prudent investing been more important. A group of students in the College of Business Administration will try their hand at the process using real money—thanks to generous donors—and under the guidance of an eleven-person advisory board composed of members of the business community.

“The board will ask tough questions of the Student Managed Investment Fund (SMIF) members and will decide which investments should be made,” said Helen Simon, director, Capital Markets Lab (CML), who also will have a say in the purchases.

At the end of each year, half the profits will revert to the fund and half will go toward the support of the CML on whose resources—including staff members and financial software—the students rely for their research. Read more.

Two student organizations host Red Tie fundraiser benefiting Better Way of Miami.

2009-03-13T11:46:00.001-05:00

Not all good ideas arise in a moment of inspiration. Some evolve, eventually yielding satisfaction as rewarding as the ones that take off from the outset.

One such evolving event involved Future Business Leaders of America-Phi Beta Lambda (FBLA-PBL) in association with the College of Business Administration’s collegiate American Marketing Association (AMA) chapter. Its results: first, $1,000 for Better Way of Miami, a successful substance abuse and HIV-AIDS awareness program; second, the successful rollout of a project now expected to be an annual event, one that fills a missing piece for FBLA-PBL, namely community service; and third, a successful collaboration between two student organizations. Read more.

Michael Fenton (BBA ’07)

2009-03-13T11:43:00.000-05:00

Michael Fenton (BBA ’07)
Associate Director
Catholic Community Foundation in the Archdiocese of Miami, Inc.

Michael Fenton (BBA ’07), associate director, Catholic Community Foundation in the Archdiocese of Miami, Inc., traces much of his professional success to his experiences at Florida International University (FIU). He holds an undergraduate degree in finance and a Professional Certificate in Banking. In addition to these achievements, he plans to enter the College of Business Administration’s Master of Science in Finance (MSF) program in 2010, and is the new president elect of the Business Alumni Chapter. Read more.

FIU’s Entrepreneurship Hall of Fame Masquerade Soirée and Silent Auction approaches.

2009-03-13T11:42:00.001-05:00

Celebrate ten years of entrepreneurship with the College of Business Administration together with its title sponsor, SunTrust Bank, on May 16, 2009 at the spectacular, newly renovated Fontainebleau Miami Beach Hotel. The Ten-Year Anniversary Masquerade Soirée and Silent Auction will feature wonderful items for bid, a not-to-miss raffle and attendee gift bag, souvenir masquerade mask, and live music on the original stage where Frank Sinatra performed. Past honorees will be recognized and the college’s own executive dean, Joyce J. Elam, will be honored as the South Florida Entrepreneur of the Year. Please join us for an evening to remember.

Agenda:
7:00-8:00 p.m.: Cocktails and Auction
8:00-8:30 p.m.: Program
8:30-10:30 p.m.: Live Music and Light Fare

Cocktail Attire

Tickets are now on sale...purchase today.

Family Firm Lecture explores “Challenges to a Successful Family-Owned Business in a Troubled Economy.”

2009-03-13T11:38:00.001-05:00

On March 23, 2009, at Florida International University’s Biscayne Bay Campus, Marcy Syms, president and CEO of Syms Corp., will discuss the challenges of having a family-owned business in a difficult economy. If you would like more information on the Family Firm Lecture, which will take place from 5:00-7:00 p.m., please contact 305.348.7171. Read more.

New workforce absenteeism study offers insights on who is calling in sick—and why.

2009-02-09T11:53:00.002-05:00

It’s no surprise really: When unemployment is on the rise—like it is today—employee absenteeism drops as workers worry about losing their jobs when new ones are scarce. But is this always a good thing for employers?

According to a new study involving thousands of employees of a state department of transportation working in units across the state, this shift in absenteeism may ultimately not benefit employers.

“Engaged and satisfied workers are on the job through thick and thin,” said Nathan J. Hiller, assistant professor, Department of Management and International Business, College of Business Administration. “On the other hand, disengaged, disaffected workers are much more likely to show up only during the thin times. On the downside, the employees who show up more when the economy is difficult are those whose contributions to productivity are likely to be the least.”

“Engaged and satisfied workers are on the job through thick and thin. On the other hand, disengaged, disaffected workers are much more likely to show up only during the thin times.”

—Nathan J. Hiller, assistant professor, Department of Management and International Business

Hiller collaborated on the study, entitled “Work Unit Absenteeism: Effects of Satisfaction, Commitment, Labor Market Conditions, and Time,” with John P. Hausknecht, Cornell University, and Robert J. Vance, principal, Vance & Renz, LLC.

Both job satisfaction and commitment to the organization play a key role in absenteeism.

According to Hiller, the study also shows that in areas with high unemployment, absenteeism was about seven to eight percent less than in areas with low unemployment, provided the unit was low on commitment or satisfaction. In contrast, in units with high satisfaction or commitment, local unemployment rates had little, if any, effect on job absences, because absenteeism in those groups was consistently low.

On the positive side for employers, this means that when a company’s workforce is satisfied and committed, it really doesn’t matter what the economy is doing—as those employees tend to be the ones who are not missing days at work.

“Absenteeism isn’t always a bad thing, but it can viewed as a general barometer of how well a unit is being run.”

—Nathan J. Hiller, assistant professor, Department of Management and International Business

The study also contains another piece of insightful news for employers: Worker absenteeism has a tendency to creep up over the years if left unchecked, through good and bad times alike.

“Absenteeism isn’t always a bad thing, but it can viewed as a general barometer of how well a unit is being run,” Hiller said. “A spike in absences may indicate that bigger problems in the unit are just around the corner.”

Study resonates around the globe.

First published in the January, 2009 issue of the Academy of Management Journal, the workforce absenteeism study quickly spread to an international audience. A Reuters news wire article appeared in MSNBC and Yahoo online news and other business and news outlets in Canada, India, Philippines, United Kingdom, and the United States.

“Clearly, the study reaches across different business cultures at a time when employers are concerned about how employees can help their businesses survive and sustain competitive advantage,” Hiller said.

Program brings supply chain management learnings to life.

2009-02-09T11:48:00.004-05:00

Did you purchase anything today? If so, you played your part in the supply chain—knowingly or not. The truth is, the supply chain operates all around us, day in and day out.

And in these challenging economic times, supply chain management is becoming increasingly important to organizations as they look to well-educated supply chain professionals to help improve their competitive and financial performance.

To that end, the College of Business Administration’s Ryder Center for Supply Chain Management and its office of Executive and Professional Education continue to enhance the Association for Operations Management (APICS) Certified Supply Chain Professional (CSCP) program.

“The program now incorporates more case studies and site visits to offer the students greater insights into every aspect of supply chain management.”

—Michael Richardson (EMBA ’02), CSCP, CFPIM, and director of wholesale planning, Perry Ellis International

According to Michael Richardson (EMBA ’02), CSCP, CFPIM, and director of wholesale planning, Perry Ellis International, the program covers every aspect of supply chain management—from understanding the fundamentals to managing customer and supplier relationships as well as using information technology to enable supply chain management.

“The program now incorporates more case studies and site visits to offer the students greater insights into every aspect of supply chain management,” Richardson said. “I encourage them to discuss what’s going on in their work week in the context of the topics covered. We are boosting the relevance between course materials and actual work experiences. You could not get this kind of learning on your own.”

Richardson collaborates with Walfried Lassar, Ryder Professor and director, Ryder Center for Supply Chain Management, to continually sharpen and refine the program focus. One change: the program is now presented as a blended course.

“Students use the Blackboard Enterprise College Edition (CE) learning platform to guide them through course materials, which in turn leaves us more classroom time to delve deeper into real-world discussions,” Richardson said.

If your job touches supply chain management, this program is for you.

The program takes a broad view of the field, going beyond internal operations to encompass the entire supply chain—from suppliers, through the company, to the end user. It also probes the intricacies of supply chain systems, providing employees, employers, managers, teachers, and consultants with the knowledge and skills to understand and lead the integration of activities within these systems.

Levi Kelly, distribution manager, Coca-Cola Enterprises, took the course “to learn more about supply chain best practices and to prepare for certification.”

For Yngrid Rendahl, senior regional supply chain planner for Latin America, Covidien, the APICS coursework was completely in synch with her on-the-job responsibilities.

“Getting to share experiences with other students in class . . . that’s priceless.”

—Yngrid Rendahl, senior regional supply chain planner for Latin America, Covidien

“Getting to share experiences with other students in class . . . that’s priceless,” she said.

Upcoming spring course offered in two convenient locations.

The course begins again in April, 2009 with classes at both the University Park and Pembroke Pines campuses. For more details and registration information, visit http://business.fiu.edu/epe/supply_chain_management.cfm.

Scholarships give worthy graduate students access to education they deserve.

2009-02-09T11:38:00.002-05:00

From left to right: Guillermo Hernandez; Emmanuel Roman; J. Guillermo Villar, president and CEO of Mercantil Commercebank; Eduardo Velasquez, and Tomas Garcia

Students at all levels of higher education find themselves confronting a difficult paradox. On the one hand, they know that a first-rate education will open career opportunities that will increase their chances for financial security and job satisfaction. On the other hand, with economic woes to face and priorities to set, paying for that education is increasingly difficult.

To address this problem, several years ago, as dean of the Chapman Graduate School, Jose de la Torre, now clinical professor and J.K. Batten Eminent Scholar Chair in Strategy, Department of Management and International Business, began a drive to establish scholarships for graduate programs.

At the outset, he explained that “donations will help the graduate school attract bright, top-level students who might otherwise select business schools with large endowments offering more financial help.”

Three donors quickly respond with generosity.

De la Torre can now look with satisfaction at the early successes of his commitment. Three corporations have come forward with funds that will yield a number of annual scholarships. Mercantil Commercebank pledged $150,000 over five years, Espirito Santo Bank pledged $75,000 over five years, and Jackson Health System pledged $75,000 over five years. The Chapman School will match every dollar donated from its internal funds, thus doubling the amount of the scholarships. The contributions are part of the college’s Growth and Excellence Fund.

“We are extremely grateful to these pioneering companies that have allowed us to get the effort off the ground.”

—Jose de la Torre, clinical professor and J.K. Batten Eminent Scholar Chair in Strategy, Department of Management and International Business

“We are extremely grateful to these pioneering companies that have allowed us to get the effort off the ground,” de la Torre said. “The scholarships have made a tremendous impact, bringing in students to our graduate programs who wouldn’t have been able to come otherwise. But this is just a beginning. We want to increase the fund dramatically in the future.”

The first group of students awarded Mercantil Commercebank scholarships included students in both the International MBA (IMBA) and the Master of International Business (MIB) programs: Tomas Garcia (IMBA), Guillermo Hernandez (MIB), IMBA student Emmanuel Roman (BBA ’08), and Eduardo Velasquez (MIB).

Funded students will give back in kind.

“The support from these institutions enables us to provide opportunities to students who have demonstrated their ability to accomplish great things.”

—Annabelle Rojas (MBA ’98, BBA ’87), assistant dean, Department of Advancement, Alumni, and Corporate Relations

“The support from these institutions enables us to provide opportunities to students who have demonstrated their ability to accomplish great things,” said Annabelle Rojas (MBA ’98, BBA ’87), assistant dean, Department of Advancement, Alumni, and Corporate Relations. “Once they graduate with a degree from one of our outstanding graduate programs and enter the job market, we know they will continue to make positive contributions to the business community, which benefits all of us.”

The Chapman Graduate School also awards National Society of Hispanic MBAs (NSHMBA) and Chapman Merit scholarships. The number of currently enrolled scholarship recipients in the graduate school is fifteen.

Learn more.

To learn more about the Growth and Excellence Fund, visit http://business.fiu.edu/Spotlights/growth_and_excellence_fund_info.cfm. For information about other funding opportunities, visit http://business.fiu.edu/Spotlights/support_our_school.cfm or contact Rojas at 305.348.3339 or Annabelle.Rojas@fiu.edu.

Two faculty members organize Professional Development in International Business (PDIB) program in India.

2009-02-09T11:20:00.005-05:00

Prior to the U.S. presidential inauguration, the College of Business Administration, through its Center for International Business Education and Research (CIBER), had an inaugural event of its own: the first Professional Development in International Business (PDIB) program in India.

From December 28, 2008 until January 4, 2009, two members of the Department of Management and International Business, CIBER Director Mary Ann Von Glinow, professor and Knight Ridder Eminent Scholar Chair in International Management; and Sumit Kundu, Knight Ridder Center Research Professor, led a contingent of nine professors from the United States and one from Finland on a trip that combined company visits in Mumbai (formerly Bombay) and Bangaluru (formerly Bangalore) with sight-seeing excursions.

“The goal was to provide a group of academics the chance to observe the ‘Indian miracle.’”

—Mary Ann Von Glinow, professor and Knight Ridder Eminent Scholar Chair in International Management, Department of Management and International Business, and CIBER director

“The goal was to provide a group of academics the chance to observe the ‘Indian miracle,’” Von Glinow said.

Organizers parlay contacts for trip that is a “re-visit,” not merely a visit.

Both Von Glinow and Kundu had in-depth knowledge of India acquired during prior trips. Von Glinow frequently travels to Bangaluru for consulting and research purposes. Not only was Kundu born there, but also in 2005 and 2006, he led the international trip for the college’s Executive MBA program to Mumbai and Bangaluru. Each drew upon established business contacts to pack the itinerary with opportunities for interaction with high-ranking business leaders.

Mary Ann Von Glinow with Mumbai’s Taj Hotel in background

“The presentations by senior vice presidents and CEOs of these multinational corporations gave participants the chance to see firsthand how such companies manage global challenges.”

—Sumit Kundu, Knight Ridder Center Research Professor, Department of Management and International Business

In Mumbai, the group visited German-based Siemens; the U.S. Foreign Commercial Service; India-based RPG Group; and GlaxoSmithKline Limited, headquartered in Great Britain.

“The presentations by senior vice presidents and CEOs of these multinational corporations gave participants the chance to see firsthand how such companies manage global challenges,” Kundu said.

The time spent in Bangaluru at Shining Consulting, a boutique consulting firm since 1996, particularly struck Von Glinow, who was intrigued by their use of behavioral criteria in aligning personnel with a company’s strategic intent, and their flamboyant, colorful image.

MphasiS, an India-based business process outsourcing company on whose board Jose de la Torre, former dean of the Chapman Graduate School, sits; and Infosys, a global leader in information technology at which Von Glinow has “extraordinary contacts,” also generated ample interest.

Planning for next trip already has begun.

In early 2010, Von Glinow and Kundu plan to offer the PDIB again. Mumbai and Bangaluru exert a strong pull, though they are considering substituting Chennai (formerly Madras)—one of the largest cities in the south with IT and manufacturing strengths—for Bangaluru, if they can establish contacts of the same stature as those they have cultivated in Bangaluru.

Coping with challenging economic times: women leaders offer tips to their peers.

2009-02-09T11:15:00.005-05:00

Women gathered to hear three industry leaders speak about “Tough Economy, Smart Solutions” at a luncheon co-hosted by The Commonwealth Institute and the College of Business Administration’s Department of Advancement, Alumni, and Corporate Relations.

No one is saying that getting through our current economic situation will be easy. On the contrary, the consensus is that daunting challenges await us. On January 21, 2009, nearly forty women welcomed pragmatic suggestions from three savvy panelists presenting on the topic “Tough Economy, Smart Solutions.” The Commonwealth Institute (TCI), which holds monthly meetings for high-level women executives, hosted the event with the Department of Advancement, Alumni, and Corporate Relations in the College of Business Administration.

Joyce J. Elam, executive dean of the business school, told the audience to reinforce their core business by concentrating as many resources as possible on playing to win in their main field of competition, to be smart about cost reductions by focusing on where to streamline and restructure rather than making across-the-board cuts, and to “recognize that in a recession, there may be opportunities, so take the time to discover yours.”

“Recognize that in a recession, there may be opportunities, so take the time to discover yours.”

—Joyce J. Elam, executive dean, College of Business Administration

Effective communication emerges as key component for success

Julie Neitzel, president, GenSpring Family Offices, a wealth management firm, urged attendees to make sure that they develop a realistic plan to weather the current economic storm by carefully assessing one’s personal and business cash flow; increase their sales and marketing efforts to try to gain more market share; to communicate with employees, customers, and suppliers, because taking the extra effort can pay off in different ways; and to take action instead of allowing themselves to be paralyzed by fear.

Joyce J. Elam

Also, Joanna Schwartz, managing director, Silver Hill Financial, a commercial real estate lender, reminded the group that when they have to make a hard decision, they may be too close to the situation and should seek an unbiased opinion. In addition, she explained that when you are going through tough times in the electronic age—with its blogs and speedy transmission of information—it’s important that the message always comes directly from you to your employees.

Among those attending the event were a number of alumnae from the college including Monique Catoggio (EMBA ’03), director of advancement and alumni relations; Leslie Hulser (IMBA ’08), program coordinator, international affairs and projects; Dean’s Council member Liz Parnes (BBA ’77), president, E C Parnes & Associates; and Cathy Pareto (EMBA ’06), president, Cathy Pareto and Associates.

“This was the first TCI meeting I attended and I instantly realized the strength of this women’s organization,” Hulser said. “I appreciated hearing from three wonderful speakers with experience in different sectors.”

Learn more.

For more information about TCI, visit http://www.commonwealthinstitute.org/cms-fl/publish/aboutUs/. Since 2006, TCI has partnered with the college, and Florida International University’s Center for Leadership and Metropolitan Center in an annual survey of women-led businesses in Florida with revenues of $3 million or more. The reports are posted at http://www.lead.fiu.edu/research.html.

College partners with Beacon Experience to deliver memorable holiday for at-risk kids.

2009-02-09T11:08:00.003-05:00

Dany Garcia and Joyce J. Elam with toys secured through the generosity of the College of Business Administration’s leadership team

Joyce J. Elam is well known as the executive dean of the College of Business Administration at Florida International University (FIU) and as vice provost of FIU Online.

Dany Garcia, founder and CEO of a Miami-based investment firm, is also well known at FIU and within the college. She serves on the FIU Foundation Board of Directors, and she recently made a generous donation to the college to help start the Student Managed Investment Fund and to fund the group’s advisor, Helen Simon, director, Capital Markets Lab.

This past holiday season, at the invitation of Garcia, Elam took on yet another role: as Santa’s helper. She gathered toys to bring the cheer of the season to participants in the Beacon Experience, a foundation Garcia launched to help at-risk children by providing educational programs and assistance.

“In the past, the college has participated in toy drives for the holidays and this was a meaningful project for us to take on.”

—Joyce J. Elam, executive dean, College of Business Administration

“She sent me an email saying that the foundation was looking for individuals to buy gifts for the children,” Elam said. “In the past, the college has participated in toy drives for the holidays and this was a meaningful project for us to take on.”

College’s leadership team contributes to the immediate goal and lays foundation for expanded relationship.

The Beacon Experience ensured that the recipients got exactly what they wanted by providing Elam each child’s name and his or her gift request.

To be able to collect the number of toys on the lengthy list, Elam appealed to the college’s administrators, who responded with tremendous generosity. Some donated toys and many donated money, which Elam used to purchase additional presents. The cash and toy contributions totaled about $1,000. Elam also delivered the gifts to the foundation, where staff members wrapped them and ultimately handed them out to the excited group.

“Dany Garcia’s generosity and expertise already have been an invaluable resource for the business school. We will continue to find ways to reciprocate to support her important work as she continues to do the same for us.”

—Annabelle Rojas (MBA ’98, BBA ’87), assistant dean, Department of Advancement, Alumni, and Corporate Relations

A partnership among the Beacon Experience, the College of Business Administration, and Santa helped make Christmas special.

According to Annabelle Rojas (MBA ’98, BBA ’87), assistant dean, Department of Advancement, Alumni, and Corporate Relations, the collaboration with Garcia and her foundation embodies the college’s commitment to expand relationships with entities in the business community for mutual benefit.

“Dany Garcia’s generosity and expertise already have been an invaluable resource for the business school,” Rojas said. “We will continue to find ways to reciprocate to support her important work as she continues to do the same for us.”

Learn more.

For more information about the array of programs the Beacon Experience offers, visit http://www.beaconexperience.org/.

Alumna Profile: Vivian Padron (BBA ’03)

2009-02-09T10:58:00.004-05:00

Alumna Profile: Vivian Padron (BBA ’03)
Marketing Manager, Comcast Sports Southeast (CSS)
MBA Candidate, Downtown Program

As marketing manager for Comcast Sports Southeast (CSS), one of Comcast’s ten regional sports networks, Vivian Padron (BBA ’03) finds herself in a male-dominated field. Not only that: she’s the sole marketing contact in South Florida, and took the job fresh out of college, sometimes working with men who had been in the cable and broadcasting industries for as long as she’s been alive. But she’s relished the challenge, and credits her experiences at Florida International University with helping her meet it.

“The marketing major taught me how to market a business or industry, or products and services,” she said. “It also taught me how to market myself. I learned how to network better, communicate better, and how to work around different obstacles.”

Now enrolled in the Downtown MBA, which she appreciates because of the convenience and the fact that staff members handle logistics thereby saving her valuable time, she expresses the confidence that she feels others will gain from the college’s programs.

“The undergraduate and graduate schools should give you the confidence to be the best at what you want to do,” she said.

The College of Business Administration alumni groups get off to fast start in 2009.

2009-02-09T10:46:00.004-05:00

School of Accounting Alumni Affinity Council hosts “pre-busy season” kickoff.

From left to right: Adrian Alfonso, president, Cuban American CPA Association; Ed Duarte, SOAAAC co-chair; Frank Fernandez, U.S. Century Bank; Sharon Lassar, director, School of Accounting; Ben Diaz, co-chair, SOAAAC; and Ronald Thompkins, FICPA past president

The School of Accounting Alumni Affinity Council (SOAAAC), along with presenting sponsor U.S. Century Bank, hosted the “pre-busy season” kickoff on January 15, 2009. More than 100 alumni and friends gathered at the college for cocktails and networking with the Cuban American CPA Association and the Florida Institute of Certified Public Accountants (FICPA) South Florida chapters. The purpose of the event was to bring together School of Accounting alumni and individuals in the accounting industry to create awareness about the school’s new Alumni Affinity Council. The council’s mission is to provide an environment that engages alumni with the School of Accounting, fosters relationships, and creates mentoring opportunities for those in or interested in the accounting industry. Ben Diaz (BACC ’95), Alvarez & Marsal Taxand, LLC; and Ed Duarte (BBA ’98), BDO Seidman, co-chair the group. The next SOAAAC general meeting will take place May 7, 2009, from 8:00-10:30 a.m. in the Special Events Room in the business building complex. If you are interested in attending or would like to know more about the group, call Michelle Joubert at 305.348.0397.

Business Alumni Chapter networker takes place at Miami Science Museum.

The Business Alumni Chapter (BAC) and the Miami Science Museum co-hosted an entertaining networking event at the museum on January 29, 2009. From left to right: Michael Fenton (BBA ’07), BAC president-elect; Michelle Joubert, assistant director of advancement and alumni relations, College of Business Administration; JC Hernandez (BBA ’02), BAC president; and Dianne Cordova (BBA ’06), BAC board member

New Real Estate Alumni Affinity Council co-chairs deliver message.

The real estate market is experiencing historic times that will surely continue into the foreseeable future. During these changing times in our industry, it is most important to have the opportunity to create valuable contacts while remaining informed on current market news. Under new leadership, the Real Estate Alumni Affinity Council (REAAC) is excited to host several networking events in 2009—events that will bring together great company and endless possibilities. It is important for us to get out there, be involved, and create opportunities for ourselves. If you are interested in being a part of the REAAC board, please e-mail us at reaacfiu@gmail.com or call 305.773.6600 or 786.473.9387.

Thank you,

Adrian Rodriguez and David Lopez (BBA ’07)

REAAAC board co-chairs

Shop till you drop no more: Retailers found holiday cheer hard to come by this year.

2009-01-14T09:15:00.003-05:00

Deanne Butchey (PhD ’05), instructor, Department of Finance and Real Estate and assistant dean, Assurance of Learning and Accreditation. View complete interview to learn more about the economic strengths and weaknesses in the holiday retail sector.

The 2008 holiday shopping season reflected both the economic woes and the reduced consumer confidence that abound in today’s retail markets.

“Worries about their jobs, the difficulty in accessing credit, and the uncertainty about the economy caused many consumers to exercise restraint and to use cash for the purchases they did make,” said Deanne Butchey, instructor, Department of Finance and Real Estate and assistant dean, Assurance of Learning and Accreditation.

Butchey points out that shoppers did their due diligence to save money on holiday gifts purchased—and that in some areas the shopping season was not a total disappointment.

“Luxury stores had stampeding customers taking advantage of generous sales and promotions,” she said. “What’s more, many consumers shopped on the Internet to get gift ideas and to locate bargains. Educated consumers also purchased a larger share of their gifts on the Internet to save money on gas and to benefit from retailers’ free shipping offers. In addition, Internet searches made it easier to comparison shop.”

Buying patterns shift.

According to Butchey, consumers who turned to the Internet had more cash to spend because of the savings on gasoline expenditures. However, they tended to purchase only useful items that were reduced markedly and represented good value.

“Worries about their jobs, the difficulty in accessing credit, and the uncertainty about the economy caused many consumers to exercise restraint and to use cash for the purchases they did make.”

—Deanne Butchey (PhD ’05), instructor, Department of Finance and Real Estate and assistant dean, Assurance of Learning and Accreditation

“Stores were prepared for this and had leaner inventories, so items in high demand ran out very quickly,” she said.

South Florida retail market reflects regional challenges.

Florida, along with Arizona and California, has been “ground zero” for foreclosures, which spurred the rapid erosion of consumers’ perceived home equity and wealth.

“Combine the real estate slump with the stock market slump and you see why South Floridians are in general feeling more despondent than the rest of the country,” Butchey said. “Thankfully, we did not have depressing cold and stormy winter weather to compound our sentiment!”

Numerous stores in South Florida have shut their doors, including KB Toys, Linens ’n Things, Mervyns, Sharper Image, and Whitehall Jewelers.

“Tourists who usually arrive and shop are staying away from Florida this year, lured by phenomenal deals in the Caribbean and Mexico,” she said. “Those deals are driven by the fact that poor economic conditions in Great Britain and Europe are keeping many potential tourists from those regions at home, which is in turn reducing overall demand and generating appealing price deals for those who can afford to choose travel to the Caribbean and Mexico over trips to Florida.”

What’s in store for 2009?

Moving into the New Year, larger stores will demand rent concessions. This will help the retailers’ bottom line while spelling bad news for commercial real estate markets, especially for highly leveraged property owners.

“Strong stores will survive—and with less competition,” Butchey said. “I do think we are in for a tough 2009. The new administration brings a glimmer of hope, but there is a danger of expecting too much too soon. That could see us revisit recent stock market lows if the market doesn’t quickly get a clear view that the proposed stimulus package will be enough.”

Butchey was quick to point out one bit of good news displayed in the University of Florida’s monthly consumer confidence report: Consumer confidence among Floridians rose five points in January, 2009. Although the report did show that consumers felt very pessimistic about their current personal finances, the other four components of the index rose, reflecting optimism about the future.¹

Fall Commencement ceremony brings all business school graduates together.

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More than 1,000 students graduated from the College of Business Administration at the 2008 Fall Commencement.

On December 16, 2008, approximately 1,274 individuals made the passage from student to alumna or alumnus at the Fall Commencement in the U.S. Century Bank Arena on the University Park campus. For the first time since the 2004 Spring Commencement, the business school’s entire student body—from the undergraduate, graduate, and School of Accounting programs—participated in the festivities on the same day. Approximately 770 students from the College of Business Administration’s R. Kirk Landon Undergraduate School and approximately 504, including fourteen doctoral students, from the Alvah H. Chapman, Jr. Graduate School, graduated.

“You have prepared yourself to face successfully the many challenges that lie ahead of you.”

—Joyce J. Elam, executive dean, College of Business Administration and vice provost, FIU Online

Joyce J. Elam, executive dean of the college and vice provost, FIU Online, spoke to the assembly, assuring the candidates for graduation that they “have demonstrated many of the qualities that will be invaluable to you in your future endeavors—ability, desire, determination, commitment, perseverance, and purpose. You have prepared yourself to face successfully the many challenges that lie ahead of you.”

Remarks set the stage for future alumni involvement.

Elam’s speech also provided an opportunity to remind the soon-to-be business school alumni, a group that now numbers approximately 30,000, of the importance of staying involved.

“Without your continued involvement and support, we can never reach our potential,” she said, and then quoted Robert Maynard Hutchins, the fifth president of the University of Chicago, who said, “If the alumni of a university do not maintain it—in thought and action—there is no reason why anyone else should.”

No one could embody the notion of a dedicated alumnus more than Mario de Armas (BBA ’85), market managing partner, PricewaterhouseCoopers LLP, who received the FIU Medallion as the outstanding alumnus. Within the college, de Armas serves on the Dean’s Council, and is the new president of the School of Accounting Advisory Board. He also plays a role on many community boards including the Board of Trustees of Dade Marine Institute, Inc., a United Way agency that works with court-supervised youth in Miami-Dade County.

Donald Roomes, director of the BBA+ program, and Divesh Sharma, associate professor, School of Accounting, were banner marshals.

Joint graduate degree doubles career opportunities.

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Alexander Nottingham (MBA-JD ’08). View> video interview with Nottingham to learn more about how his two degrees developed a range of different skills.

Alexander Nottingham (MBA-JD ’08), operations consultant, Smile South Florida, believes that a law degree will open more doors for his career in business. Current graduate student Marlon Greenwood chose to pursue both a business and law degree because he was looking for a way to make his educational degree unique—and to help ensure that his résumé stands out in job application pools.

Both offer insights into the value of pursuing a joint degree at Florida International University—in their case, the MBA-JD offered by the College of Business Administration in conjunction with the College of Law.

“The study of law has improved my analytical and writing skills. I believe it will help me greatly as a business person.”

—Alexander Nottingham (MBA-JD ’08), operations consultant, Smile South Florida

Joint degree builds real-world skills—where business and law intersect.

Nottingham is the first to graduate with an MBA-JD joint degree and is now seeking an upper-level executive position or a spot with a consulting firm.

“The study of law has improved my analytical and writing skills,” he said. “I believe it will help me greatly as a business person.”

“I hope to eventually run my own business and, in my opinion, a solid background in both business and the law will provide me with the educational foundation I need to succeed.”

—Marlon Greenwood, MBA-JD student

With two years of law school completed, Greenwood decided to go for the MBA-JD joint degree.

“The benefit of having an MBA for just one more year of full-time coursework seems like an excellent opportunity,” he said. “I hope to eventually run my own business and, in my opinion, a solid background in both business and the law will provide me with the educational foundation I need to succeed.”

Marlon Greenwood

Greenwood observes that the MBA-JD program builds complementary skill sets.

“For example, a lawyer starting a practice needs to have a good business plan coupled with a good understanding of numbers in terms of how to finance and budget a firm’s operations,” he said. “On the flip side, in business today, you can hardly write a letter without subjecting yourself to some kind of legal implication—not to mention contractual agreements and regulatory requirements. That’s why the skills emphasized in law school—such as legal analysis, legal research, and legal writing—are increasingly important in almost every aspect of business today.”

In addition to the MBA-JD, eligible MBA students attending the College of Business Administration can choose from the following joint degree programs: the Master of Science of Finance (MBA-MSF), the Master of Science in Management Information Systems (MBA-MSMIS), the Master of Arts in Latin American and Caribbean Studies (MBA-MALACS), the Master of Science in Human Resource Management (MBA-MSHRM), the Master of Science in International Real Estate (MBA-MSIRE), and the Master of International Business (MBA-MIB).

On-target case studies earn scholarships for retail marketing students.

2009-01-13T16:53:00.003-05:00

Educators from throughout the United States with an interest in teaching languages from throughout the world attended a conference co-sponsored by the Center for International Business Education and Research (cases). View video interviews with members of the winning case competition team and the course’s instructor.

A shopping trip to a Target retail store now takes on new meaning for students who participated in the Target Case Study program as part of the fall session of the College of Business Administration’s Retail Marketing undergraduate course.

“The program presents students with the opportunity to solve real-world challenges for Target’s retail business,” said Tim Dugan Birrittella, lecturer, Department of Marketing. “As part of the process, the students gain a stronger understanding of the marketing complexities facing retailers today.”

Birrittella initially contacted a Target recruiter to come talk to his class, which in turn led to the invitation to participate in the Target Case Study program.

“We jumped at the opportunity,” Birrittella said. “Not only did this provide an excellent learning exercise but Target also presents scholarships to the students who deliver the winning case study.”

The 48 students in the class divided into twelve teams of four students. Six teams tackled a case study on connecting with multicultural shoppers, and another six teams focused on a Hispanic market case study. The students prepared a written report as well as an oral presentation for Target representatives.

And the winner is . . .

Students Sasha Gessen, Alexandra Givner, Andrea Mantica, and Isabel Pascua scored the winning case study with original merchandising strategies for the Miami, Los Angeles, and Chicago markets.

“To succeed in retail marketing today, you really do need to ‘think outside the box.’”

—Alexandra Givner, student and Target scholarship winner

Sasha Gessen

According to Pascua, one idea that caught the Target judges’ attention centered around the creation of a “Club MIS Quinces” in Miami area stores to provide a gift registry for the now-popular Quinceañera parties celebrating a girl’s fifteenth birthday.

“Our team worked together to make this project successful,” Pascua said. “During the process, I learned to communicate my ideas and to listen to others’ ideas.”

Givner feels the case study project drove the team to think more creatively and innovatively.

“To succeed in retail marketing today, you really do need to ‘think outside the box,’” she said.

Each of the winning students will receive a $1,000 scholarship from Target.

“The students gained valuable experience outside the classroom, not to mention connections with Target that can lead to future internships and possible career opportunities.”

—Tim Dugan Birrittella, lecturer, Department of Marketing, College of Business Administration

There’s more good news: Birrittella recently received word that his spring 2009 class has been selected to participate in the next Target Case Study program.

“I’m very pleased to continue this education partnership with Target,” he said. “Aside from the scholarship incentive, I’ve received very positive feedback from the students who participated in the first competition. It’s a win-win all around. Target showed interest in the ideas we presented. The students gained valuable experience outside the classroom, not to mention connections with Target that can lead to future internships and possible career opportunities.”

CIBER conference deemed a success in any language.

2009-01-13T16:16:00.006-05:00

Educators from throughout the United States with an interest in teaching languages from throughout the world attended a conference co-sponsored by the Center for International Business Education and Research (CIBER). View a video interview with conference organizer, Sonia Verdu, assistant director, CIBER.

Hola. Konnichiha. Ni hao. Olá! Hello.

All appropriate greetings heard among the 92 educators participating in the First National K-12 Language for Business Conference held October 31 and November 1, 2008 at the Hotel Sofitel in Miami.

The conference brought together teachers from across the United States interested in introducing language for business into their curricula. Conference tracks focused on four languages: Spanish, Japanese, Chinese, and Portuguese.

The College of Business Administration’s Center for International Business Education and Research (CIBER) joined other CIBER organizations and the City of Miami Mayor’s International Council as co-sponsors of the event.

“We called this gathering the ‘first national’ conference because this is the first time that a Language for Business Conference featured four unique language tracks,” said Sonia Verdu, CIBER assistant director, who has organized the conference for three years.

Sonia Verdu

This year, K-12 teachers from Connecticut, Indiana, Massachusetts, Oregon, Tennessee, and Texas joined teachers from across Florida to hear Santiago Cabanas, The Honorable Consul of Spain, deliver the keynote address. Other highlights of the conference agenda included general session presentations by Thomas Breslin, professor, International Relations, Florida International University, and Fred Campos, Ernst & Young, who spoke about the importance of business language in the global economy.

Conference exemplifies CIBER's commitment to education and community outreach.

According to Verdu, the U.S. Department of Education funds 31 CIBER nationwide. The college’s CIBER supports a unique combination of academic, research, and outreach programs that help business, government, and academic communities operate effectively in the global business environment.

“Our goal is to bring interested K-12 teachers together to promote the importance of teaching language for business, even in the earlier education years.”

—Sonia Verdu, assistant director, CIBER

“Our goal is to bring interested K-12 teachers together to promote the importance of teaching language for business, even in the earlier education years,” she said. “They leave our conference ready to share their knowledge and enthusiasm with their own students and community.”

Attendance was up at this year’s conference partially because 28 attendees received grants to cover travel expenses.

What’s more, thanks to the co-sponsors’ generous support, the conference registration was free and featured a complementary reception, breakfast, and lunch.

“The crowd of K-12 teachers gathered in Miami inspired and motivated me,” said Mary Risner, professor, Florida State University, who has participated in numerous CIBER events.

“The fast-moving, highly connected global nature of today’s economy makes business language skills essential to success. I applaud the efforts the college’s CIBER is making to connect with more K-12 teachers across the country.”

—Mary Risner, professor, Florida State University

At this conference, she led a discussion in the Portuguese track entitled “Business and Career Opportunities through Foreign Language Studies.”

“The fast-moving, highly connected global nature of today’s economy makes business language skills essential to success,” Risner said. “I applaud the efforts the college’s CIBER is making to connect with more K-12 teachers across the country.”

BBA+ Weekend students team with AT&T to give back to the local community during the holiday season.

2009-01-13T16:08:00.003-05:00

Students in the BBA+ Weekend group gathered food and toys to brighten the holidays for needy families. View interviews about the rewards of this community service project.

Think globally. Act locally. Certainly this altruistic concept rang true for BBA+ Weekend Group 26 as they chose their Business in Society service learning project: conducting a Thanksgiving food drive and a Christmas toy drive for needy South Florida families.

To bring some cheer to those most in need during a holiday season made more difficult because of the economic downturn, the students joined forces with AT&T Telecom Pioneers South Florida Council. Telecom Pioneers is the largest industry-related volunteer organization in the world, with chapters located across the United States and Canada.

“Working closely with Telecom Pioneers, we selected two holiday projects this semester—a Thanksgiving food drive and a Christmas toy drive,” said the project leader, Tammi Calarco, legal assistant, Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. “To help others at Thanksgiving, we reached out to our employers and colleagues and collected cash, checks, and non-perishable Thanksgiving foods plus gift cards from Publix supermarkets to create personalized baskets for local families.”

Tammi Calarco

The Thanksgiving baskets were distributed through two charitable organizations—Safe Space of North Dade County and Voices for Children Guardian Ad Litem South Florida. Four organizations—Children's Home Society of Florida, Mooseheart Charities, Association for Retarded Citizens, and CHARLEE Homes for Children—benefited from the toy drive.

Spirited commitment yields dramatic results.

The Thanksgiving food basket project raised a grand total of $4,783.00 and collected a mountain of food donation boxes.

“We hope the success of this project will continue to create awareness for local organizations that are reliant on private donations. We wish to continue to strengthen our relationship with the College of Business Administration.”

—Cindy Esquivel (BBA ’01), community service chairperson, AT&T Telecom Pioneers South Florida Council

“This enabled us to feed 189 families and provide an additional 25 gift cards to other families in need,” Calarco said. “The Christmas toy drive was equally successful, with 769 toys collected in the true spirit of the season.”

Cindy Esquivel and Alex Formoso

Cindy Esquivel (BBA ’01), community service chairperson with AT&T Telecom Pioneers South Florida Council, commends the Group 26 effort.

“We hope the success of this project will continue to create awareness for local organizations that are reliant on private donations,” she said. “We wish to continue to strengthen our relationship with the College of Business Administration.”

Esquivel praised Calarco’s leadership skills.

“She motivated her teammates to get the job done. She also inspired 100 percent participation with her employer, collecting $1,440.00 and thirteen boxes of food items for the Thanksgiving baskets,” she said.

“It was a joy to personally witness the team’s cohesion and organized work and to be a part of this great effort. I am sure that these families were greatly helped because of this accomplishment.”

—Donald Roomes, director, BBA+ program

The tremendous team effort also impressed Donald Roomes, director, BBA+ program.

“The students worked tirelessly to collect a wide variety of foods donated by their companies, and then they transformed their classroom into a warehouse of neatly stacked items,” Roomes said. “It was a joy to personally witness the team’s cohesion and organized work, and to be a part of this great effort. I am sure that these families were greatly helped because of this accomplishment.”

Alumnus Profile: Emilio Vazquez (BBA ’95)

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View full interview with Emilio Vazquez (BBA ’95).

Alumnus Profile: Emilio Vazquez (BBA ’95)
Senior Vice President and Regional Branch Manager
Coconut Grove Bank

For Emilio Vazquez (BBA ’95), who began his banking career as a teller and now serves as senior vice president and regional branch manager for Coconut Grove Bank’s five branches, job satisfaction focuses on people.

“What’s most rewarding is working with clients and employees, helping our employees learn and reach their personal goals, and watching our customers grow and prosper,” he said.

As he reflects on how his education in the College of Business Administration has contributed to his success, he points to several factors including the emphasis on projects.

“We did lots of team projects that helped us understand that we cannot succeed if we are doing it alone,” he said. “The lack of teamwork is the main reason businesses fail.”

And, as someone who took seven years to earn his degree, attending evening classes after working eight to ten hours, he is in an excellent position to give the following advice:

“Don’t get tired. Continue to be enrolled. Be focused. At the end of the road, you will be a cut above,” he said.

Chapman alumni attend annual holiday party.

2009-01-13T15:39:00.009-05:00

The newly opened Patricia and Philip Frost Museum provided an elegant setting for the ^3rd annual holiday party for alumni of the Chapman Graduate School.

On December 11, 2008, more than 100 Chapman Graduate School alumni gathered during opening week of the Patricia and Philip Frost Museum to meet, mingle, and make merry for the holidays. The ^3rd annual holiday party brought together Chapman graduates from various graduating classes, faculty, staff, and program managers to reconnect and network. Executive Dean Joyce J. Elam spoke about the many accomplishments and impressive rankings the Chapman Graduate School has recently received.

The highlight of the event was a guided tour of the Frost Museum’s 46,000 square foot galleries. Alumni were able to view several collections including the General Collection, the Metropolitan Museum and Art Center Collection, the Betty Laird Perry Emerging Artist Collection, and the Cintas Fellows Collection. Alumni who signed up for membership were entered into a raffle to receive an Art Basel VIP package provided by the Frost Art Museum.