Siena Business Report Fall 2011
Content
A M AGA ZINE FOR SCHOOL OF BUSINESS ALUMNI AND FRIENDS • FALL 2011
A Smart Investment Nets 12 Bloomberg Terminals
school of business executive advisory board
craig allen ’91 Owner All Star Wine and Spirits stephanie bartkowiak ’99 Partner Teal, Becker and Chiaramonte, CPAs, PC Ken blass ’83 CEO Blass Communications Paul dicaprio ’81 CEO Specialty Silicone Products diana ehrlich ’94 Associate Ostroff, Hiffa and Associates carol hausamann ’81 Director Marvin and Company brennan Parker ’00 Vice President Rose and Kiernan, Inc. bill Phelan ’78 Co-founder and CEO Bright Hub scot salvador ’88 EVP Chief Banking Officer Trustco Mark Woroby ’81 Executive Director Wildwood Foundation Mike Zovistoski ‘84 Managing Director UHY Advisors NY, Inc.
SIENA COLLEGE SCHOOL OF BUSINESS MAGAZINE FALL 2011
5 Innovate, Create, Accelerate 6 8 12 A Smart Investment Nets 12 Bloomberg Terminals Alumni Profile: Kate Gutmann ’90 New Lecture Series with a Franciscan Twist
Siena Business Report Fall 2011 Published by Siena College 515 Loudon Road Loudonville, NY 12211-1462 Office of Strategic Communications and Integrated Marketing Delcy Fox, Director Editor Jim Eaton, Associate Director of Communications Contributing Writer Jodi Ackerman Frank Photographers Tony Purificato Kris Qua Sergio Sericolo
ON THE COVER
Design and Production Panarama Design
Students work at new Bloomberg terminals in the Hickey Financial Technology Center’s Raub Market Trading Room.
a Message froM the dean
Continuous Improvement
“Continuous improvement” is the mantra of our accrediting agency,
the Association to Advance Collegiate Schools of Business (AACSB). We, in the School of Business, take this mandate seriously, refusing to rest on the laurels of our successes, with much that is new, growing and forthcoming. Most noteworthy, the School of Business has a new strategic plan. This plan was developed over the past year with broad stakeholder involvement. It charts the course and provides points of accountability for the School of Business over the next three years. In tandem with its development is the establishment of a new School of Business Executive Advisory Board and a restructuring of the School of Business administrative operations, both designed to support the delivery of the plan. Also new this year are the Lewis Golub Executive Lecture Series, generously funded by his daughter, Shari Golub Schillinger ’86, and a new common college core curriculum where students will be required to participate in an intensive first-year seminar and complete four, distinct Franciscan concern courses. On the growth front, the Siena College business incubator has evolved into the Center for Innovation and Entrepreneurship under the able stewardship of Mike Hickey ’83. The Douglas Hickey ’77 Financial Technology Center has greatly expanded its operations and now offers 12 state-of-the-art Bloomberg terminals for student hands-on learning. Service learning opportunities for students have increased, the Siena College Student Conference in Business continues to grow and receive external recognition for the quality of collaborative student/faculty research and our instructional technology has expanded due to a generous gift from Chris Falvey and Jacqueline Rosetti Falvey ’84. As you read this, the School of Business curriculum committee is hard at work reviewing the business core and the accounting, management and marketing majors are undergoing rigorous external program reviews. The end result of all of this activity is continuous improvement in reinforcement of Siena’s Franciscan values and traditions, commitment to teaching and mission-based scholarship and enhanced student engagement via high-impact learning practices. Stay tuned.
school of business strategic Plan 2011-2014
1. Provide an education that is differentiated, continuously improving and well suited to the dynamic global business environment. 2. Provide all students with multiple opportunities to engage in challenging applied learning experiences within our academic programs. 3. Better articulate, integrate and apply Siena’s Franciscan and liberal arts traditions to our teaching, research and service. 4. Enhance the interaction and collaboration among faculty and students. 5. Broaden the involvement of stakeholders with open and honest dialogue.
Jeffrey Mello, Ph.d. dean of the school of business
4
FACULTY PUBLICATIONS
ChEStER BREaREy (2011). “Canada,” In United Kingdom (Ed.) Global Accounting History: Accounting, Financial Reporting and Public Policy, (pp. 25). United Kingdom: Emerald Group Publishing of the United Kingdom. GaRy ClEnDEnEn, S.A. Salzman and C. D. Miller (2011). Mathematics of Business (9th Ed), Upper Saddle River, NJ: Prentice Hall.
innovate, create, accelerate
Siena’s business incubator program has been building academic programs, community support, multidisciplinary partnerships across campus and businesses. It also has a new name: the Center for Innovation and Entrepreneurship (CIE). “The work we have done underscores the College’s commitment to engage students in high-impact learning practices to help them develop innovation and entrepreneurial skills, and then enable them to apply these skills to establish a viable startup,” said CIE Executive Director Michael Hickey ’83. The CIE has focused on initiatives that emphasize the multidisciplinary nature of entrepreneurship, from the engineer who creates an initial idea to the marketer who knows how to sell a product. At the end of October, for instance, the CIE collaborated with the School of Science and the School of Liberal
S
ince it was launched a year ago,
Arts to engage a team of 12 students from physics, computer science, arts and business in a workshop called Innovation Jumpstart. During the workshop, the team learned how to vet unique ideas for new entrepreneurial opportunities. “The hope is that these students will take ownership of one or more of these ideas and enter the CIE with a legitimate business plan,” said Sharon Small ’89, who heads CIE’s innovation initiatives and facilitated the workshop. Small is one of four faculty members on Hickey’s CIE formation team. The others are adjunct faculty member Charles Rancourt; Kenneth Williams, professional specialist in business and entrepreneurship; and Cheryl Buff ’82, Ph.D., associate professor of marketing. In connecting with Capital Region communities, CIE helped establish Accelerate518, a new consortium of business incubators, regional colleges and universities and the Center for Economic Growth. The Student Mash event, which took place at the Rensselaer Technology Park in conjunction with the Accelerate518 launch, was
a hit among area students, with Siena representing more than half of the 45 college student participants. “The event was a great way to meet other aspiring entrepreneurs in an informal setting,” said Shane Matzen ’13, an economics major and president of the Student Entrepreneurship Club, who helped organize the event. CIE also has about a half-dozen company tenants, up from one a year ago. MoveThatBlock.com, CIE’s first tenant, has seen its viewership soar from 300,000 hits the first few months to more than 1.2 million registered users in nine months. The free online classifieds and business directory site, propelled through advertisements, allows individuals and companies to post and search everything from commercial properties and vehicles to job ads and internship opportunities. “Innovate, create and accelerate is what we’re all about,” Hickey said. “The goal is to work with students through the process so, by the time they graduate, they will have created a sustainable business that’s ready to go.”
5
A Smart Investment Nets 12 Bloomberg Terminals
Bloomberg Terminals Enhance an Expanding Technological Center
ince it was established in 2004, the Douglas T. Hickey ’77 Financial Technology Center has provided Siena College students with exposure to the data and tools used in the world’s largest financial centers, with its Bloomberg terminals a prominent experiential learning resource.
This year, the Center added 10 new Bloomberg terminals in its Raub Market Trading Room, thanks to a timely donation by the financial advisory firm Ayco and its Siena alumni employees. “All of us at Ayco are delighted to enhance the hands-on market experience for Siena students through greater access to Bloomberg terminals,” said Joel Schaller, president and CEO of Ayco, a Goldman Sachs Company. “As a company that employs more than 130 Siena graduates, we’re proud of our longstanding affiliation with Siena College.” “Without the generosity of Ayco and its Siena alumni employees, these 10 new terminals would not be possible,” said Brad Bodmer ’82, the College’s director of development who coordinated the donations.
S
driven by student need and real-World learning
The increase in Bloomberg terminals illustrates how the Hickey Center has grown in technological depth and in student and faculty demand. “The Hickey Center has been a remarkable success,” said Tony Pondillo, the Center’s academic director. “It has helped tremendously to supplement our efforts to engage students in experiential learning in preparing them for their chosen professions.” The Center consists of the Alonge Accounting Lab as well as the Raub Market Trading Room, which houses the Bloomberg terminals, as well as 12 Reuter terminals and a real-time stock market ticker. While students are blocked from trading websites, they have access to real-time stock market quotations and the latest financial news.
6
“The Hickey Center allows our students to do more and learn more than ever,” said Tom Kopp, chair of the Finance Department who teaches mostly international finance. “Rather than pouring through printed documents and newspapers to extract data, they can focus on analysis and decision making through the analytic techniques that are used in the professions they aspire to.” The Trading Room also serves as a classroom for such courses as the Bjorklund Fund, an all-cap value fund in which students trade real dollars. Created with a $100,000 donation in 2006, the fund stands at about $153,000. “Without this kind of facility, courses such as the Bjorklund Fund would not be possible,” Pondillo said.
FACULTY PUBLICATIONS
GaRy ClEnDEnEn, S.A. Salzman, and C.D. Miller (2011). Business Mathematics, (12th Ed), Upper Saddle River, NJ: Prentice Hall. JOhn DEJOy and MaRGaREt anDERSOn, “Corporate Social and Financial Performance: the Role of Size, Industry, Risk, R&D and Advertising Expenses as Control Variables” in Business & Society Review (2011): 237-256.
“The Trading Room has all the tools I need to do my research and class work,” said Christopher Di Gregorio ’12, a finance major, who added that, if he’s not at his townhouse or in class, he is in the Raub Trading Room.
technological and Multidisciplinary
The Hickey Center’s Alonge Accounting Lab also allows students to gain experience and the technological know-how they will need in the workforce, offering access to software such as QuickBooks, tailored toward small businesses, and ACL, an auditing tool. State-of-art technology in the Hickey Center, which also includes Thomson One Analytics, Reuters 3000 Xtra, Morning Star Library
Edition and Capital IQ, benefits not only finance and accounting students, but also students who are majoring in economics, marketing and management. For instance, a marketing major might use a Bloomberg terminal to research geographic sales for marketing purposes. An economics major might use the same company information to access financial statements and import them onto a spreadsheet. “The Hickey Center exposes students to different types of tools that they’re going to see in the marketplace,” said Scott Lawyer ’00, the Hickey Center’s technical director. “As a result, our students are really able to hit the ground running, and employers are more aware than ever of the capabilities of our graduates.”
bjorklund fund shines
The student-run Bjorklund Fund continues its stellar performance, despite the long downturn in the economy. It has accumulated 55.64% since its inception in January 2006, compared to -1.58% for the S&P 500. As of November 2011, the Fund was up 5.88% year-to-date, compared to 0.8% for the S&P 500. The Bjorklund Fund is a finance class in which five student officers and their analysts manage a portfolio of 27 stocks using the sophisticated tools in the William R. Raub ‘85 Market Trading Room. Over the past five years, the students have outperformed the S&P 500 by more than 20%. “The Bjorklund Fund performance is a major point of pride for the School of Business,” said Jeff Mello, Ph.D., dean of the School of Business. “We are extremely grateful to Eric Girard, professor of finance, for his tireless work in managing the program and mentoring our student investment managers.” The Fund was created with an initial donation of $50,000 in 2006 by Ronald Bjorklund ‘85, a Siena trustee who added an additional $50,000 a few years later because of student performance. The Fund now stands at about $153,000. “Most of us do not have the resources to invest on our own, and this class allows us not only to invest in a stock portfolio, but also to utilize our finance skills in analyzing companies and sharing what we learn with our fellow students,” said Brett Solimine ‘12, one of the five Bjorklund Fund student officers.
7
ElIzaBEth MaRCuCCIO and Joseph McCollum, “Hazing on College Campuses: Who is Liable?” in the North East Journal of Legal Studies. (2011): 26-41.
Pushing through the barriers
Alumna’s motto is to work hard and believe in yourself
8
MaRtha OlnEy (2011). Macroeconomics as a Second Language, Hoboken, NJ: John Wiley and Sons, Inc. aaROn PaCIttI, “The Cost of Job Loss and the Great Recession” in the Journal of Post Keynesian Economics (2011): 597-620.
ALUMNI PROFILE
A few years into her career, Kate (Strang) Gutmann ’90 was told that having a young saleswoman from the U.S.-based United Parcel Service (UPS) sell directly to her customer’s Japanese headquarters would not be accepted. However, she believed otherwise. So, she boarded a plane headed to Japan, where she made a successful sale.
“I was very nervous,” Gutmann said. “But, I was able to get the job done because I believed in myself and was determined.” Her drive, perseverance and performance propelled her quickly up the corporate ladder over the last 21 years to her current position as UPS president of worldwide sales. Gutmann started her career at UPS as an intern while earning a marketing degree at Siena. Her job was to jumpstart the market for Drop Boxes, which was a new service in its beta testing stages. Today, there are nearly 40,000 Drop Boxes nationwide. Throughout her UPS career, Gutmann has held various sales and marketing positions, including director of marketing in the company’s Pacific Region and vice president of sales for the Southeast Region. In 2006, Gutmann moved to Brussels as vice president of marketing for the European region To hone her business and communications skills, Gutmann turned to Siena, where she looked up to many of her professors, and was especially impressed with the College’s internship program. “Siena was a perfect match for me. It provided a true community of support,” she said. “Dr. Dick Johnson, who ran the internship program, made opportunities happen for students.” Gutmann, who now lives in Atlanta, Ga., with her “incredibly supportive” husband and two sons, has this advice for graduates looking to start a career at a time of fierce competition and a soft economy: “Say yes to opportunity.” “Believe in yourself and challenge yourself,” she added. “You can always talk yourself into not doing something. But, even though it’s scary to push yourself to really do it, you learn so much more when you do.”
that also includes the Middle East and Africa. In April 2011, she was promoted to her current position. Gutmann, who grew up in Troy, N.Y. in a family of six children, was heavily influenced by her father, a Niagara Mohawk business executive, and by her mother, a teacher. “My father taught me my business skills, and my mother taught me the fundamentals of good balance and communications,” she said.
9
FACULTY PUBLICATIONS
ManIMOy Paul, JaMES nOlan and anDREa SMIth-huntER, “College Students and Credit Cards: Myths, Facts and Vulnerabilities” in Review of Higher Education and Self-Learning (2011). 137-162.
School of Business Reorganizes to Realize Its Strategic Goals
As part of its new strategic plan, the School of Business has reorganized and expanded its administration and curriculum.
Changes include a newly created position of associate dean, the expansion of the Department of Marketing and Management into two separate departments and a new Executive Advisory Board. “The new organization structure provides the foundation to greatly enhance our programs and student experience as we pursue our new strategic plan,” said School of Business Dean Jeffrey Mello, Ph.D. The strategic plan calls for more differentiated learning, increased student and faculty collaborations and multiple opportunities for applied learning experiences. The plan is also focused on articulating, integrating and applying Siena’s Franciscan and liberal arts traditions to its teaching, research and service. “A critical aspect of the plan will be to bring our school’s faculty closer to the central campus to enhance student engagement,” said John O’Neill, Ph.D., the new associate dean. O’Neill, also the Hickey Chair in Business, is working closely with the dean and department chairs to integrate the internal aspects of the strategic plan. Splitting the marketing and management departments into two separate entities also will enhance student engagement and increase state-of-the art offerings. “The department split allows faculty and students in each, now separate, major to focus on discipline-specific learning objectives, skills and course content, which we believe will better prepare our students for careers in their chosen field,” said Deborah Kelly, J.D., chair of the Management Department. “We continue to collaborate with one another in our teaching and in our research,” said Raj Devasagayam, Ph.D., chair of the Marketing Department, referring to both departments. “From a student’s perspective, however, the path to graduating with a marketing major is now more clearly defined and the curricular goals are better discerned.”
new associate dean, John O’neill 10
FACULTY PUBLICATIONS
ManIMOy Paul and anDREa SMIth-huntER, “The Impact of Social, Economic and Genetic Factors on Students’ Alcohol Consumption Decisions.” Academy of Information and Management Sciences Journal 14 (2011): 133-154.
FAC U LT Y PROFILE
Service Learning for a True Educational Experience
Paul Thurston, Ph.D., assistant professor of management, is most comfortable working with students in real-life situations that embrace Siena’s Franciscan traditions.
“I try to create situations in which my students take on a great deal of the responsibility for learning, and integrating and applying their knowledge,” Thurston said. Thurston does this by placing his students in partnerships with community organizations that serve the poor and disadvantaged. Last year, Thurston’s management students designed and implemented the Siena Stomps Out Homelessness campaign, which raised awareness and more than $1,000. Nearly 500 members of the Siena community symbolically stomped out homelessness by performing the Cha-Cha Slide at halftime of a Siena College Women’s basketball game. The event was recognized with the TrustCo Bank Award for Excellence for outstanding achievement and community service. A second and larger similar event is planned for this year. In Thurston’s strategy classes, students developed strategic plans for the Saint Ambrose School in Latham, N.Y., and the Interfaith Partnership for the Homeless in Albany, N.Y. “Everyone benefits. The students present their work to the organizations’ senior leadership and receive real feedback from the people who will implement their suggestions. The organizations benefit from the students’ research and creative ideas.” Thurston’s leading change classes have guided several organizations through projects focused on improving sustainability. “The relationships with Grand Street Community Arts and Fr. Peter Young Housing, Industries and Treatment have been so rewarding,” said Thurston. “The students rise to the challenge, enjoy the applied experience, and feel good about themselves for giving back to the community.” Thurston, who retired with 20 years of service in the U.S. Air Force in 2004, began his teaching career as an instructor at the Air Force Institute of Technology (AFIT) in 1997. He earned his bachelor’s degree in mechanical engineering at Worcester Polytechnic Institute, a master’s degree in systems management at AFIT and a Ph.D. in organizational studies at the University at Albany. He joined the Siena faculty in 2006.
11
new lecture series with a franciscan twist
FACULTY PUBLICATIONS
ManIMOy Paul and anDREa SMIth-huntER, “Using Decision Tree Analysis to Predict Women’s Entrepreneurial Choices.” Academy of Information and Management Sciences Journal 14. (2011): 137-162. MIChaEl PEPE, “The Impact of Private Label Brands on Customer Loyalty and Product Category Profitability.” Journal of Product & Brand Management 20. (2011): 27-36.
B
usiness ethics and social responsibility is the focus of the new Lewis Golub Executive Lecture Series at Siena College.
corporations, as well as reviewing examples of ways in which Price Chopper has maintained a socially responsible company culture. “I was truly honored to be the first speaker in a lecture series that honors the memory and the legacy of our father, Lewis Golub. It makes perfect sense that a values-based institution such as Siena would view ethics and social responsibility as an important part of a well-rounded business education,” Jerel Golub said. Lewis Golub rose to president, CEO and chairman of the Golub Corporation and Price Chopper Supermarkets by building a small family grocery business into one of the most admired private companies in New York and one of the largest in the nation. In 1978, he introduced Price Chopper’s employee profit-sharing program. Today, half of the company’s stock is owned by current and former Price Chopper employees. Over the years, Golub garnered many awards and accolades for his business acumen and public work. He died in 2009 at age 78 of amyotrophic lateral sclerosis, also known as Lou Gehrig’s disease. Golub Schillinger said that Siena is the perfect venue for honoring her father with a new lecture series. “Giving back to the community was important to my father. When I was young he would quote JFK who said, ‘To whom much is given, much is required.’ I later discovered that JFK took that quote directly from the Bible: Luke 12:48,” said Golub Schillinger, who assisted in her father’s operations in various roles, including operational auditor, policy and procedures analyst and government relations specialist. “It is always important to remember in business that we are first and foremost fellow human beings,” Golub Schillinger added. “Siena celebrates that belief every day.”
Established by his daughter, Shari Golub Schillinger ’86, the lecture series honors Lewis Golub ’53, a renowned philanthropist and food industry visionary. “This new executive lecture series will demonstrate to students that being socially responsible and ethical is not only the right thing, but good business as well,” said Golub Schillinger, past chair of the Siena College Board of Associate Trustees. “The program will recognize those companies and business leaders who have already embraced this ideal in hopes that they will inspire others to do the same.” Golub Schillinger’s brother Jerel Golub, president and COO of Price Chopper, delivered the inaugural lecture on October 18. His presentation honored his father’s legacy by discussing the evolution of business ethics and how it relates to today’s
13
School of Business Welcomes New Faculty
assistant Professor of accounting Causseaux taught accounting for six years at Valdosta State University in Georgia. She began her professional career as an accountant at Georgia-Pacific and in private consulting. Causseaux was a commercial lender for the Bank of America and a credit policy officer for Regional Bank. Her research interests are in corporate governance, audit and international accounting. She is also a Certified Management Accountant. Causseaux completed her Ph.D. in 2009 at Argosy University.
Wanda causseaux, Ph.d.
appointments at Skidmore College and Ithaca College, where he served as Chair of the Accounting Department. He also held an appointment as a Visiting Associate Professor at Cornell University’s Dyson School of Applied Economics and Management. His research focuses on business valuation issues. Lewis’s work has been published in the Journal of Legal Economics, the Journal of Business Valuation, Economic Loss Analysis and the CPA Journal. Lewis received his MBA and Ph.D. from Union College.
Maguire has an MBA from the University at Albany.
Kossi Makpayo, Ph.d.
eric lewis ’89, Ph.d.
14
associate Professor accounting Lewis was a Professor and Dean of the School of Management at Union Graduate College. He held tenured
visiting instructor of Marketing Maguire has 20 years of teaching experience. His professional background is in business-tobusiness marketing, having worked in divisional and corporate sales, research and customer service. Previously, he worked at Siena as adjunct. He currently owns a residential and commercial real estate investment business.
thomas Maguire
visiting assistant Professor of economics Makpayo has taught various courses including Principles of Economics, Statistics and Business Decision Models, Applied Statistics to Business and Economics and Managerial Economics at Northeastern University and Suffolk University. Makpayo has received awards for Teaching Excellence (Economics Department, Suffolk University, 2010), Outstanding Faculty Member of the Year nominee (Student Government Association, Suffolk University, 2008) and Certified E-learning Instructor (Northeastern University, 2010). His research interests include General Economics, International Economics, Development Economics, Applied Statistical Methods, Applied Econometrics
GaRy ClEnDEnEn, RaJ DEvaSaGayaM and JIM BOOKER, “Water Sustainability in India.” North American Case Research Association Annual Meeting (2011). FREDERICk DECaSPERI and DOuGlaS lOnnStROM, “Women Earn More Degrees but Fare Poorly in Workplace.” International Academy of Business and Economics Conference (2011). aDaM nGuyEn and JOSEPh ROSEttI, “A Desirable Educational Model.” American Marketing Association Summer
and West African economies. Makpayo earned his Ph.D. in Economics from Suffolk University.
assistant Professor of economics Mandal has taught at Hartwick College and the University at Albany. His primary research interests include Macroeconomics, Labor Economics and Econometrics. At Siena, he will be instrumental in starting the biweekly Economics Department round table discussions. He is actively involved in the local communities and serves as a board member in the Capital Region Workforce Development Center and the New York State Economics Association. He received his Ph.D. in Economics from University at Albany in 2009.
arindam Mandal, Ph.d.
visiting Professor of economics Olney has taught at the University of California, Berkeley since 1992 and was Associate Professor of Economics at University of Massachusetts Amherst. She received the Distinguished Teaching Award from both Berkeley and UMass. Her research addresses consumer spending and indebtedness, focusing on the 1920s and 1930s. She is the author of Buy Now Pay Later: Advertising, Credit, and Consumer Durables in the 1920s, and of journal articles published in Quarterly Journal of Economics, Journal of Economic History and Explorations in Economic History. She has authored several economics textbooks, including Macroeconomics, Essentials of Economics, Microeconomics as a Second Language and Macroeconomics as a Second Language. She earned her Ph.D. in Economics from U.C. Berkeley.
Martha olney, Ph.d.
two students receive accounting scholarships
The New York State Society of Certified Public Accountants (NYSSCPA) and its Foundation for Accounting Education have announced the recipients of the 2011 Excellence in Accounting Scholarships. The $2,500 full-time study scholarships were awarded to 44 students statewide including Theresa Amodeo ’11 and Chelsea Belmonte ’11. Established in 1990, the scholarships are supported by contributions from the statewide membership of the NYSSCPA. The funds provide financial assistance to encourage and aid deserving candidates who plan to enter the accounting profession. 15
FACULTY PROCEEDINGS
Educators Conference (2011). aDaM nGuyEn and Yuan Meng, “Whether and To What Extent Buyers Care About Fair Pricing for Its Own Sake.” American Marketing Association Summer Educators Conference (2011.) anDREa SMIth-huntER and Sammie Robinson, “Women Entrepreneurs in Australia: Aboriginal and NonAboriginal Women.” Academy of Management Annual Meeting (2011).
515 Loudon Road Loudonville, NY 12211-1462
change service reQuested
NON-PROFIT ORG. U.S. POSTAGE PAID ALBANY NY PERMIT #370
FACULTY PRESENTATIONS
DEB DElBElSO, JaMI COtlER, ManIMOy Paul and MIChaEl tanSkI (2011, June). Beyond the Suit and Resume, Leveraging Online Reputation for Career Success. National Career Development Conference, San Antonio, Texas. MaRGaREt GaRnSEy and Andrea Hotaling (2011, June). Using Financial Statement Analysis and Database Queries to Detect Possible Irregularities. Accounting Information Systems Educator Conference, Fort Collins, Colorado. SunIta GOEl (2011, August). Are Quarterly Reports More Informative Than Annual Reports in Fraud Detection? A Linguistic Analysis. American Accounting Association National Meeting, Denver, Colorado. SunIta GOEl and Jagdish Gangolly (2011, August). Creating Fraud Ontology—A Preliminary Examination. American Accounting Association National Meeting, Denver, Colorado. aRInDaM ManDal, ManIMOy Paul and MICHELLE ANDREO ‘12 (2011, September). A Measure to Identify ‘Bubble Formation’ in Real Estate Markets. New York State Economics Association Annual Conference, Rochester, N.Y. JEFFREy MEllO (2011, August). Brave New World: Social Media and Concerted Activity Under the National Labor Relations Act. Academy of Legal Studies in Business Annual Meeting, New Orleans, Louisiana. JEFFREy MEllO and David Balkin (2011, August). The Role of the Academic Administration in Better Aligning Teaching and Research. Academy of Management International Meeting, San Antonio, Texas. lEOnaRD StOkES and Paul SantIllI (2011, May). An Ethical Perspective of Internal Controls in a Technological World. Academic Business World International Conference, Nashville, Tenn.
A Smart Investment Nets 12 Bloomberg Terminals
school of business executive advisory board
craig allen ’91 Owner All Star Wine and Spirits stephanie bartkowiak ’99 Partner Teal, Becker and Chiaramonte, CPAs, PC Ken blass ’83 CEO Blass Communications Paul dicaprio ’81 CEO Specialty Silicone Products diana ehrlich ’94 Associate Ostroff, Hiffa and Associates carol hausamann ’81 Director Marvin and Company brennan Parker ’00 Vice President Rose and Kiernan, Inc. bill Phelan ’78 Co-founder and CEO Bright Hub scot salvador ’88 EVP Chief Banking Officer Trustco Mark Woroby ’81 Executive Director Wildwood Foundation Mike Zovistoski ‘84 Managing Director UHY Advisors NY, Inc.
SIENA COLLEGE SCHOOL OF BUSINESS MAGAZINE FALL 2011
5 Innovate, Create, Accelerate 6 8 12 A Smart Investment Nets 12 Bloomberg Terminals Alumni Profile: Kate Gutmann ’90 New Lecture Series with a Franciscan Twist
Siena Business Report Fall 2011 Published by Siena College 515 Loudon Road Loudonville, NY 12211-1462 Office of Strategic Communications and Integrated Marketing Delcy Fox, Director Editor Jim Eaton, Associate Director of Communications Contributing Writer Jodi Ackerman Frank Photographers Tony Purificato Kris Qua Sergio Sericolo
ON THE COVER
Design and Production Panarama Design
Students work at new Bloomberg terminals in the Hickey Financial Technology Center’s Raub Market Trading Room.
a Message froM the dean
Continuous Improvement
“Continuous improvement” is the mantra of our accrediting agency,
the Association to Advance Collegiate Schools of Business (AACSB). We, in the School of Business, take this mandate seriously, refusing to rest on the laurels of our successes, with much that is new, growing and forthcoming. Most noteworthy, the School of Business has a new strategic plan. This plan was developed over the past year with broad stakeholder involvement. It charts the course and provides points of accountability for the School of Business over the next three years. In tandem with its development is the establishment of a new School of Business Executive Advisory Board and a restructuring of the School of Business administrative operations, both designed to support the delivery of the plan. Also new this year are the Lewis Golub Executive Lecture Series, generously funded by his daughter, Shari Golub Schillinger ’86, and a new common college core curriculum where students will be required to participate in an intensive first-year seminar and complete four, distinct Franciscan concern courses. On the growth front, the Siena College business incubator has evolved into the Center for Innovation and Entrepreneurship under the able stewardship of Mike Hickey ’83. The Douglas Hickey ’77 Financial Technology Center has greatly expanded its operations and now offers 12 state-of-the-art Bloomberg terminals for student hands-on learning. Service learning opportunities for students have increased, the Siena College Student Conference in Business continues to grow and receive external recognition for the quality of collaborative student/faculty research and our instructional technology has expanded due to a generous gift from Chris Falvey and Jacqueline Rosetti Falvey ’84. As you read this, the School of Business curriculum committee is hard at work reviewing the business core and the accounting, management and marketing majors are undergoing rigorous external program reviews. The end result of all of this activity is continuous improvement in reinforcement of Siena’s Franciscan values and traditions, commitment to teaching and mission-based scholarship and enhanced student engagement via high-impact learning practices. Stay tuned.
school of business strategic Plan 2011-2014
1. Provide an education that is differentiated, continuously improving and well suited to the dynamic global business environment. 2. Provide all students with multiple opportunities to engage in challenging applied learning experiences within our academic programs. 3. Better articulate, integrate and apply Siena’s Franciscan and liberal arts traditions to our teaching, research and service. 4. Enhance the interaction and collaboration among faculty and students. 5. Broaden the involvement of stakeholders with open and honest dialogue.
Jeffrey Mello, Ph.d. dean of the school of business
4
FACULTY PUBLICATIONS
ChEStER BREaREy (2011). “Canada,” In United Kingdom (Ed.) Global Accounting History: Accounting, Financial Reporting and Public Policy, (pp. 25). United Kingdom: Emerald Group Publishing of the United Kingdom. GaRy ClEnDEnEn, S.A. Salzman and C. D. Miller (2011). Mathematics of Business (9th Ed), Upper Saddle River, NJ: Prentice Hall.
innovate, create, accelerate
Siena’s business incubator program has been building academic programs, community support, multidisciplinary partnerships across campus and businesses. It also has a new name: the Center for Innovation and Entrepreneurship (CIE). “The work we have done underscores the College’s commitment to engage students in high-impact learning practices to help them develop innovation and entrepreneurial skills, and then enable them to apply these skills to establish a viable startup,” said CIE Executive Director Michael Hickey ’83. The CIE has focused on initiatives that emphasize the multidisciplinary nature of entrepreneurship, from the engineer who creates an initial idea to the marketer who knows how to sell a product. At the end of October, for instance, the CIE collaborated with the School of Science and the School of Liberal
S
ince it was launched a year ago,
Arts to engage a team of 12 students from physics, computer science, arts and business in a workshop called Innovation Jumpstart. During the workshop, the team learned how to vet unique ideas for new entrepreneurial opportunities. “The hope is that these students will take ownership of one or more of these ideas and enter the CIE with a legitimate business plan,” said Sharon Small ’89, who heads CIE’s innovation initiatives and facilitated the workshop. Small is one of four faculty members on Hickey’s CIE formation team. The others are adjunct faculty member Charles Rancourt; Kenneth Williams, professional specialist in business and entrepreneurship; and Cheryl Buff ’82, Ph.D., associate professor of marketing. In connecting with Capital Region communities, CIE helped establish Accelerate518, a new consortium of business incubators, regional colleges and universities and the Center for Economic Growth. The Student Mash event, which took place at the Rensselaer Technology Park in conjunction with the Accelerate518 launch, was
a hit among area students, with Siena representing more than half of the 45 college student participants. “The event was a great way to meet other aspiring entrepreneurs in an informal setting,” said Shane Matzen ’13, an economics major and president of the Student Entrepreneurship Club, who helped organize the event. CIE also has about a half-dozen company tenants, up from one a year ago. MoveThatBlock.com, CIE’s first tenant, has seen its viewership soar from 300,000 hits the first few months to more than 1.2 million registered users in nine months. The free online classifieds and business directory site, propelled through advertisements, allows individuals and companies to post and search everything from commercial properties and vehicles to job ads and internship opportunities. “Innovate, create and accelerate is what we’re all about,” Hickey said. “The goal is to work with students through the process so, by the time they graduate, they will have created a sustainable business that’s ready to go.”
5
A Smart Investment Nets 12 Bloomberg Terminals
Bloomberg Terminals Enhance an Expanding Technological Center
ince it was established in 2004, the Douglas T. Hickey ’77 Financial Technology Center has provided Siena College students with exposure to the data and tools used in the world’s largest financial centers, with its Bloomberg terminals a prominent experiential learning resource.
This year, the Center added 10 new Bloomberg terminals in its Raub Market Trading Room, thanks to a timely donation by the financial advisory firm Ayco and its Siena alumni employees. “All of us at Ayco are delighted to enhance the hands-on market experience for Siena students through greater access to Bloomberg terminals,” said Joel Schaller, president and CEO of Ayco, a Goldman Sachs Company. “As a company that employs more than 130 Siena graduates, we’re proud of our longstanding affiliation with Siena College.” “Without the generosity of Ayco and its Siena alumni employees, these 10 new terminals would not be possible,” said Brad Bodmer ’82, the College’s director of development who coordinated the donations.
S
driven by student need and real-World learning
The increase in Bloomberg terminals illustrates how the Hickey Center has grown in technological depth and in student and faculty demand. “The Hickey Center has been a remarkable success,” said Tony Pondillo, the Center’s academic director. “It has helped tremendously to supplement our efforts to engage students in experiential learning in preparing them for their chosen professions.” The Center consists of the Alonge Accounting Lab as well as the Raub Market Trading Room, which houses the Bloomberg terminals, as well as 12 Reuter terminals and a real-time stock market ticker. While students are blocked from trading websites, they have access to real-time stock market quotations and the latest financial news.
6
“The Hickey Center allows our students to do more and learn more than ever,” said Tom Kopp, chair of the Finance Department who teaches mostly international finance. “Rather than pouring through printed documents and newspapers to extract data, they can focus on analysis and decision making through the analytic techniques that are used in the professions they aspire to.” The Trading Room also serves as a classroom for such courses as the Bjorklund Fund, an all-cap value fund in which students trade real dollars. Created with a $100,000 donation in 2006, the fund stands at about $153,000. “Without this kind of facility, courses such as the Bjorklund Fund would not be possible,” Pondillo said.
FACULTY PUBLICATIONS
GaRy ClEnDEnEn, S.A. Salzman, and C.D. Miller (2011). Business Mathematics, (12th Ed), Upper Saddle River, NJ: Prentice Hall. JOhn DEJOy and MaRGaREt anDERSOn, “Corporate Social and Financial Performance: the Role of Size, Industry, Risk, R&D and Advertising Expenses as Control Variables” in Business & Society Review (2011): 237-256.
“The Trading Room has all the tools I need to do my research and class work,” said Christopher Di Gregorio ’12, a finance major, who added that, if he’s not at his townhouse or in class, he is in the Raub Trading Room.
technological and Multidisciplinary
The Hickey Center’s Alonge Accounting Lab also allows students to gain experience and the technological know-how they will need in the workforce, offering access to software such as QuickBooks, tailored toward small businesses, and ACL, an auditing tool. State-of-art technology in the Hickey Center, which also includes Thomson One Analytics, Reuters 3000 Xtra, Morning Star Library
Edition and Capital IQ, benefits not only finance and accounting students, but also students who are majoring in economics, marketing and management. For instance, a marketing major might use a Bloomberg terminal to research geographic sales for marketing purposes. An economics major might use the same company information to access financial statements and import them onto a spreadsheet. “The Hickey Center exposes students to different types of tools that they’re going to see in the marketplace,” said Scott Lawyer ’00, the Hickey Center’s technical director. “As a result, our students are really able to hit the ground running, and employers are more aware than ever of the capabilities of our graduates.”
bjorklund fund shines
The student-run Bjorklund Fund continues its stellar performance, despite the long downturn in the economy. It has accumulated 55.64% since its inception in January 2006, compared to -1.58% for the S&P 500. As of November 2011, the Fund was up 5.88% year-to-date, compared to 0.8% for the S&P 500. The Bjorklund Fund is a finance class in which five student officers and their analysts manage a portfolio of 27 stocks using the sophisticated tools in the William R. Raub ‘85 Market Trading Room. Over the past five years, the students have outperformed the S&P 500 by more than 20%. “The Bjorklund Fund performance is a major point of pride for the School of Business,” said Jeff Mello, Ph.D., dean of the School of Business. “We are extremely grateful to Eric Girard, professor of finance, for his tireless work in managing the program and mentoring our student investment managers.” The Fund was created with an initial donation of $50,000 in 2006 by Ronald Bjorklund ‘85, a Siena trustee who added an additional $50,000 a few years later because of student performance. The Fund now stands at about $153,000. “Most of us do not have the resources to invest on our own, and this class allows us not only to invest in a stock portfolio, but also to utilize our finance skills in analyzing companies and sharing what we learn with our fellow students,” said Brett Solimine ‘12, one of the five Bjorklund Fund student officers.
7
ElIzaBEth MaRCuCCIO and Joseph McCollum, “Hazing on College Campuses: Who is Liable?” in the North East Journal of Legal Studies. (2011): 26-41.
Pushing through the barriers
Alumna’s motto is to work hard and believe in yourself
8
MaRtha OlnEy (2011). Macroeconomics as a Second Language, Hoboken, NJ: John Wiley and Sons, Inc. aaROn PaCIttI, “The Cost of Job Loss and the Great Recession” in the Journal of Post Keynesian Economics (2011): 597-620.
ALUMNI PROFILE
A few years into her career, Kate (Strang) Gutmann ’90 was told that having a young saleswoman from the U.S.-based United Parcel Service (UPS) sell directly to her customer’s Japanese headquarters would not be accepted. However, she believed otherwise. So, she boarded a plane headed to Japan, where she made a successful sale.
“I was very nervous,” Gutmann said. “But, I was able to get the job done because I believed in myself and was determined.” Her drive, perseverance and performance propelled her quickly up the corporate ladder over the last 21 years to her current position as UPS president of worldwide sales. Gutmann started her career at UPS as an intern while earning a marketing degree at Siena. Her job was to jumpstart the market for Drop Boxes, which was a new service in its beta testing stages. Today, there are nearly 40,000 Drop Boxes nationwide. Throughout her UPS career, Gutmann has held various sales and marketing positions, including director of marketing in the company’s Pacific Region and vice president of sales for the Southeast Region. In 2006, Gutmann moved to Brussels as vice president of marketing for the European region To hone her business and communications skills, Gutmann turned to Siena, where she looked up to many of her professors, and was especially impressed with the College’s internship program. “Siena was a perfect match for me. It provided a true community of support,” she said. “Dr. Dick Johnson, who ran the internship program, made opportunities happen for students.” Gutmann, who now lives in Atlanta, Ga., with her “incredibly supportive” husband and two sons, has this advice for graduates looking to start a career at a time of fierce competition and a soft economy: “Say yes to opportunity.” “Believe in yourself and challenge yourself,” she added. “You can always talk yourself into not doing something. But, even though it’s scary to push yourself to really do it, you learn so much more when you do.”
that also includes the Middle East and Africa. In April 2011, she was promoted to her current position. Gutmann, who grew up in Troy, N.Y. in a family of six children, was heavily influenced by her father, a Niagara Mohawk business executive, and by her mother, a teacher. “My father taught me my business skills, and my mother taught me the fundamentals of good balance and communications,” she said.
9
FACULTY PUBLICATIONS
ManIMOy Paul, JaMES nOlan and anDREa SMIth-huntER, “College Students and Credit Cards: Myths, Facts and Vulnerabilities” in Review of Higher Education and Self-Learning (2011). 137-162.
School of Business Reorganizes to Realize Its Strategic Goals
As part of its new strategic plan, the School of Business has reorganized and expanded its administration and curriculum.
Changes include a newly created position of associate dean, the expansion of the Department of Marketing and Management into two separate departments and a new Executive Advisory Board. “The new organization structure provides the foundation to greatly enhance our programs and student experience as we pursue our new strategic plan,” said School of Business Dean Jeffrey Mello, Ph.D. The strategic plan calls for more differentiated learning, increased student and faculty collaborations and multiple opportunities for applied learning experiences. The plan is also focused on articulating, integrating and applying Siena’s Franciscan and liberal arts traditions to its teaching, research and service. “A critical aspect of the plan will be to bring our school’s faculty closer to the central campus to enhance student engagement,” said John O’Neill, Ph.D., the new associate dean. O’Neill, also the Hickey Chair in Business, is working closely with the dean and department chairs to integrate the internal aspects of the strategic plan. Splitting the marketing and management departments into two separate entities also will enhance student engagement and increase state-of-the art offerings. “The department split allows faculty and students in each, now separate, major to focus on discipline-specific learning objectives, skills and course content, which we believe will better prepare our students for careers in their chosen field,” said Deborah Kelly, J.D., chair of the Management Department. “We continue to collaborate with one another in our teaching and in our research,” said Raj Devasagayam, Ph.D., chair of the Marketing Department, referring to both departments. “From a student’s perspective, however, the path to graduating with a marketing major is now more clearly defined and the curricular goals are better discerned.”
new associate dean, John O’neill 10
FACULTY PUBLICATIONS
ManIMOy Paul and anDREa SMIth-huntER, “The Impact of Social, Economic and Genetic Factors on Students’ Alcohol Consumption Decisions.” Academy of Information and Management Sciences Journal 14 (2011): 133-154.
FAC U LT Y PROFILE
Service Learning for a True Educational Experience
Paul Thurston, Ph.D., assistant professor of management, is most comfortable working with students in real-life situations that embrace Siena’s Franciscan traditions.
“I try to create situations in which my students take on a great deal of the responsibility for learning, and integrating and applying their knowledge,” Thurston said. Thurston does this by placing his students in partnerships with community organizations that serve the poor and disadvantaged. Last year, Thurston’s management students designed and implemented the Siena Stomps Out Homelessness campaign, which raised awareness and more than $1,000. Nearly 500 members of the Siena community symbolically stomped out homelessness by performing the Cha-Cha Slide at halftime of a Siena College Women’s basketball game. The event was recognized with the TrustCo Bank Award for Excellence for outstanding achievement and community service. A second and larger similar event is planned for this year. In Thurston’s strategy classes, students developed strategic plans for the Saint Ambrose School in Latham, N.Y., and the Interfaith Partnership for the Homeless in Albany, N.Y. “Everyone benefits. The students present their work to the organizations’ senior leadership and receive real feedback from the people who will implement their suggestions. The organizations benefit from the students’ research and creative ideas.” Thurston’s leading change classes have guided several organizations through projects focused on improving sustainability. “The relationships with Grand Street Community Arts and Fr. Peter Young Housing, Industries and Treatment have been so rewarding,” said Thurston. “The students rise to the challenge, enjoy the applied experience, and feel good about themselves for giving back to the community.” Thurston, who retired with 20 years of service in the U.S. Air Force in 2004, began his teaching career as an instructor at the Air Force Institute of Technology (AFIT) in 1997. He earned his bachelor’s degree in mechanical engineering at Worcester Polytechnic Institute, a master’s degree in systems management at AFIT and a Ph.D. in organizational studies at the University at Albany. He joined the Siena faculty in 2006.
11
new lecture series with a franciscan twist
FACULTY PUBLICATIONS
ManIMOy Paul and anDREa SMIth-huntER, “Using Decision Tree Analysis to Predict Women’s Entrepreneurial Choices.” Academy of Information and Management Sciences Journal 14. (2011): 137-162. MIChaEl PEPE, “The Impact of Private Label Brands on Customer Loyalty and Product Category Profitability.” Journal of Product & Brand Management 20. (2011): 27-36.
B
usiness ethics and social responsibility is the focus of the new Lewis Golub Executive Lecture Series at Siena College.
corporations, as well as reviewing examples of ways in which Price Chopper has maintained a socially responsible company culture. “I was truly honored to be the first speaker in a lecture series that honors the memory and the legacy of our father, Lewis Golub. It makes perfect sense that a values-based institution such as Siena would view ethics and social responsibility as an important part of a well-rounded business education,” Jerel Golub said. Lewis Golub rose to president, CEO and chairman of the Golub Corporation and Price Chopper Supermarkets by building a small family grocery business into one of the most admired private companies in New York and one of the largest in the nation. In 1978, he introduced Price Chopper’s employee profit-sharing program. Today, half of the company’s stock is owned by current and former Price Chopper employees. Over the years, Golub garnered many awards and accolades for his business acumen and public work. He died in 2009 at age 78 of amyotrophic lateral sclerosis, also known as Lou Gehrig’s disease. Golub Schillinger said that Siena is the perfect venue for honoring her father with a new lecture series. “Giving back to the community was important to my father. When I was young he would quote JFK who said, ‘To whom much is given, much is required.’ I later discovered that JFK took that quote directly from the Bible: Luke 12:48,” said Golub Schillinger, who assisted in her father’s operations in various roles, including operational auditor, policy and procedures analyst and government relations specialist. “It is always important to remember in business that we are first and foremost fellow human beings,” Golub Schillinger added. “Siena celebrates that belief every day.”
Established by his daughter, Shari Golub Schillinger ’86, the lecture series honors Lewis Golub ’53, a renowned philanthropist and food industry visionary. “This new executive lecture series will demonstrate to students that being socially responsible and ethical is not only the right thing, but good business as well,” said Golub Schillinger, past chair of the Siena College Board of Associate Trustees. “The program will recognize those companies and business leaders who have already embraced this ideal in hopes that they will inspire others to do the same.” Golub Schillinger’s brother Jerel Golub, president and COO of Price Chopper, delivered the inaugural lecture on October 18. His presentation honored his father’s legacy by discussing the evolution of business ethics and how it relates to today’s
13
School of Business Welcomes New Faculty
assistant Professor of accounting Causseaux taught accounting for six years at Valdosta State University in Georgia. She began her professional career as an accountant at Georgia-Pacific and in private consulting. Causseaux was a commercial lender for the Bank of America and a credit policy officer for Regional Bank. Her research interests are in corporate governance, audit and international accounting. She is also a Certified Management Accountant. Causseaux completed her Ph.D. in 2009 at Argosy University.
Wanda causseaux, Ph.d.
appointments at Skidmore College and Ithaca College, where he served as Chair of the Accounting Department. He also held an appointment as a Visiting Associate Professor at Cornell University’s Dyson School of Applied Economics and Management. His research focuses on business valuation issues. Lewis’s work has been published in the Journal of Legal Economics, the Journal of Business Valuation, Economic Loss Analysis and the CPA Journal. Lewis received his MBA and Ph.D. from Union College.
Maguire has an MBA from the University at Albany.
Kossi Makpayo, Ph.d.
eric lewis ’89, Ph.d.
14
associate Professor accounting Lewis was a Professor and Dean of the School of Management at Union Graduate College. He held tenured
visiting instructor of Marketing Maguire has 20 years of teaching experience. His professional background is in business-tobusiness marketing, having worked in divisional and corporate sales, research and customer service. Previously, he worked at Siena as adjunct. He currently owns a residential and commercial real estate investment business.
thomas Maguire
visiting assistant Professor of economics Makpayo has taught various courses including Principles of Economics, Statistics and Business Decision Models, Applied Statistics to Business and Economics and Managerial Economics at Northeastern University and Suffolk University. Makpayo has received awards for Teaching Excellence (Economics Department, Suffolk University, 2010), Outstanding Faculty Member of the Year nominee (Student Government Association, Suffolk University, 2008) and Certified E-learning Instructor (Northeastern University, 2010). His research interests include General Economics, International Economics, Development Economics, Applied Statistical Methods, Applied Econometrics
GaRy ClEnDEnEn, RaJ DEvaSaGayaM and JIM BOOKER, “Water Sustainability in India.” North American Case Research Association Annual Meeting (2011). FREDERICk DECaSPERI and DOuGlaS lOnnStROM, “Women Earn More Degrees but Fare Poorly in Workplace.” International Academy of Business and Economics Conference (2011). aDaM nGuyEn and JOSEPh ROSEttI, “A Desirable Educational Model.” American Marketing Association Summer
and West African economies. Makpayo earned his Ph.D. in Economics from Suffolk University.
assistant Professor of economics Mandal has taught at Hartwick College and the University at Albany. His primary research interests include Macroeconomics, Labor Economics and Econometrics. At Siena, he will be instrumental in starting the biweekly Economics Department round table discussions. He is actively involved in the local communities and serves as a board member in the Capital Region Workforce Development Center and the New York State Economics Association. He received his Ph.D. in Economics from University at Albany in 2009.
arindam Mandal, Ph.d.
visiting Professor of economics Olney has taught at the University of California, Berkeley since 1992 and was Associate Professor of Economics at University of Massachusetts Amherst. She received the Distinguished Teaching Award from both Berkeley and UMass. Her research addresses consumer spending and indebtedness, focusing on the 1920s and 1930s. She is the author of Buy Now Pay Later: Advertising, Credit, and Consumer Durables in the 1920s, and of journal articles published in Quarterly Journal of Economics, Journal of Economic History and Explorations in Economic History. She has authored several economics textbooks, including Macroeconomics, Essentials of Economics, Microeconomics as a Second Language and Macroeconomics as a Second Language. She earned her Ph.D. in Economics from U.C. Berkeley.
Martha olney, Ph.d.
two students receive accounting scholarships
The New York State Society of Certified Public Accountants (NYSSCPA) and its Foundation for Accounting Education have announced the recipients of the 2011 Excellence in Accounting Scholarships. The $2,500 full-time study scholarships were awarded to 44 students statewide including Theresa Amodeo ’11 and Chelsea Belmonte ’11. Established in 1990, the scholarships are supported by contributions from the statewide membership of the NYSSCPA. The funds provide financial assistance to encourage and aid deserving candidates who plan to enter the accounting profession. 15
FACULTY PROCEEDINGS
Educators Conference (2011). aDaM nGuyEn and Yuan Meng, “Whether and To What Extent Buyers Care About Fair Pricing for Its Own Sake.” American Marketing Association Summer Educators Conference (2011.) anDREa SMIth-huntER and Sammie Robinson, “Women Entrepreneurs in Australia: Aboriginal and NonAboriginal Women.” Academy of Management Annual Meeting (2011).
515 Loudon Road Loudonville, NY 12211-1462
change service reQuested
NON-PROFIT ORG. U.S. POSTAGE PAID ALBANY NY PERMIT #370
FACULTY PRESENTATIONS
DEB DElBElSO, JaMI COtlER, ManIMOy Paul and MIChaEl tanSkI (2011, June). Beyond the Suit and Resume, Leveraging Online Reputation for Career Success. National Career Development Conference, San Antonio, Texas. MaRGaREt GaRnSEy and Andrea Hotaling (2011, June). Using Financial Statement Analysis and Database Queries to Detect Possible Irregularities. Accounting Information Systems Educator Conference, Fort Collins, Colorado. SunIta GOEl (2011, August). Are Quarterly Reports More Informative Than Annual Reports in Fraud Detection? A Linguistic Analysis. American Accounting Association National Meeting, Denver, Colorado. SunIta GOEl and Jagdish Gangolly (2011, August). Creating Fraud Ontology—A Preliminary Examination. American Accounting Association National Meeting, Denver, Colorado. aRInDaM ManDal, ManIMOy Paul and MICHELLE ANDREO ‘12 (2011, September). A Measure to Identify ‘Bubble Formation’ in Real Estate Markets. New York State Economics Association Annual Conference, Rochester, N.Y. JEFFREy MEllO (2011, August). Brave New World: Social Media and Concerted Activity Under the National Labor Relations Act. Academy of Legal Studies in Business Annual Meeting, New Orleans, Louisiana. JEFFREy MEllO and David Balkin (2011, August). The Role of the Academic Administration in Better Aligning Teaching and Research. Academy of Management International Meeting, San Antonio, Texas. lEOnaRD StOkES and Paul SantIllI (2011, May). An Ethical Perspective of Internal Controls in a Technological World. Academic Business World International Conference, Nashville, Tenn.
