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The American GTaduale School oJ International Volume XLIX, Networking on (ompuServe PAGE 14 • Executive Education PAGE 12 • Letter From Peru PAGE 40 Thllllderbird 6 9., \6: 6:392 6.843 8.962 11 .978 11.149 10.269 Not Your Father's 13.120 9.268 9.410 8.131 10.459 16.578 17.391 16,813 Oldsmobile 16,614 47.064 49.083 50.122 42,984 44,122 44.733 47.581 47,499 Changes in the financial 10,549 12,831 15.726 \7 ,925 1:1;991 12.937 13.886 12.184 services industry are both 11,112 11 .033 10.120 9.943 ~; ;;:- exciting-and unnerving, 21.345 30.522 34.589 37.381 ":j~u 24.351 24.911 26.131 29.143 25 Jl 12 14 40 Executive Ed Surfing Letter From Excels Thunderbird Peru Fifty years of experience Alumni worldwide "By day the military is paying off-in about are benefiting from controlled the city, but five million ways, CompuSeIVe's in the night Sendero 2 10 16 18 Thunderbird forum, ruled," News New Construction, ABCs Open, National Rankings, and more, Alumni Commentary Why not create a multicurrency facility? asks Carl Deddens '81. Charitable Remainder Trusts Eliminate capital gains tax through a charitable trust. Network & Updates T'bird news from around the world, Thunderbird E-Mail Directory Admissions: Alumni Relations: Career Services: Communication: johnsor\firstname.lastname@example.com,edu combes@mhs,t-bird,edu casej@mhs,t-bird.edu croweIln@mhs,t-bird,edu mcmillat@mhs,t-bird,edu 'Thunderbird Magazine Volume XLIX, Issue 2 1995 A publication of the A1unmi Relations Office of 'The American Graduate School of International Management, 15249 N, 59th Avenue, Glendale, AZ 85306-6006 (602) 978-7135, FAX (602) 978-6814 Assistant Vice President for Communication and Editor: Nelda S, Crowell Managing Editor: Thomas McMillan Contributing Editor: Panl Selthun Contributing Writer: Mary Mitchell Conununication Secretary: Gwen Swanson Editorial and Production Assistants: Reid Behrendt Jeanene Edwards Kristi Howell Andrew Sagartz JeffUnze Design: Pat Kenny Graphic Design Assistant Vice President of A1unmi Relations and Giving: Susan Combe Assistant Director of Alumni Relations: Michelle Olson A1unmi Relations Staff: Advertising Director: Janet M, Mueller Receptionist/Secretary: Cindy Hepburn Receptionist/Clerk: Chris Mosakowski Submissions may be sent electronically to Nelda S, Crowell, Editor, tlu'ough the Internet: crowelln@mhs,t-bird.edu or through tile CompuServe Thunderbird Forum 72662,3422. ThlUlderbird Altmmi Association 1994-1995 Board of Directors and Officers: Chairman of tile Board: Stephen K. Orr '79 President: H, Gene Wick '60 Vice Presidents: Michael Dillon '78 Maarten Fleurke '79 Thomas D, Hobson '79 Linda J. Magoon '84 Acting Secretary: Michelle Olson Ex Officio Members: Roy A. Herberger, Jr. Jolm E. Berndt Jolm C, Cook '79 President, Associated Students Legislative Council Board Members: George T. DeBakey '73 Michael T. Dillon '78 Webb F. Elkins '63 Thomas L. Guetzke '86 Christopher P. Jolulson '86 Larry K. Mellinger '68 McDiarmid R. Messenger '72 Carolyn Polson O'Malley '70 Joseph A. O'Neill '80 Richard E, Ragsdale '67 Mike A. Santellanes, Sr, '60 Martha S. Van Gelder Gypton '88 Honorary Board Members: Joseph M. Klein '47 The Alumni Relations Office has implemented a new database software to better maintain and enhance ilie thunderbird network. A1unmi data continues to be released to the Thunderbird conununity only for nonconunercial purposes. Please contact A1unmi Relations if you do not want yOIU' name and preferred contact information given to your peers upon request. Thunderbird, The American Graduate School of International Management, is committed to non-discriminatory practices in employment, admissions, and educational programs and activities. thunderbird is an equal Opportlmity, affmnative action employer tilat complies with applicable federal, state and local laws, statutes, orders and regulations prohibiting discrimination on ilie basis of race, color, religion, national origin, gender, age, disability and veteran status, r-------------------------------------------------------------- THINK OF IT AS GOING BACK TO THUNDERBIRD. (BUT NOT HAVING TO GO TO CLASS.) How does a Thunderbird alumni travel program sound? Relaxing vacations with other T'bird friends. Win a free trip. Custom trips built around your international interests. Win a free trip. Culturally enriching travel. Win a free trip. (Hear what we're saying?) WE WANT TO GO WHERE YOU WANT TO GO Thunderbird wants to develop a special alumni travel program built around the unique interests of T'birds. And the collective bargaining power of 27,000 alumni. First we want to you want. Exotic destinations away from tourists? Active, "off the beaten path" trips with small groups of friends? Culturally enriching adventures? Costa Rica, India, Denmark, New Zealand, Africa, Greece .... The possibilities are limited only by what you tell us you are interested in! TAKE 5 MINUTES, WIN $500 We want to hear from you. Your preferences are the heart of this program. If you take 5 minutes to complete the travel questionnaire at right, we'll enter your name into a drawing for a weekend getaway valued at $500 (or apply the prize to one of our program trips!). All responses are confidential and will be used only for the travel program. * Return by fax to: (602, 978·6814 Describe your "dream" vacation: How many days could you realistically take for that "dream vacation?" o Less than seven days o 16-20 days o 7-10 days o 21-25 days o 11-15 days o More than 25 days How much money would you spend per person on your "dream vacation" including airfare? o Less than $1,000 0 $3,000-$3,999 o $1,000-$1,999 0 $4,000-$4,999 o $2,000-$2,999 0 Over $5,000 How many vacations do you usually take per year? How much time is it practical for you to be on vacation? ______________ _ in what style do you normally travel? o Luxury 0 Moderate 0 inexpensive How much would you be willing to pay for a vacation? Weekend package $ ______ _ One week long $ _____ _ Two weeks long $ ______ _ Longer (Specify) $ _____ _ Would you participate in a travel program designed for Thunderbirds? D Yes 0 No 0 Maybe What would entice you to participate in a Thunderbird travel program? What areas of the world are you most interested in touring with a group? indicate your interest level for each, with 1 = high, 2 = moderate, 3 = low or none. Africa Middle East Asia Australia Canada Central America _ Eastern Europe Mexico South America United States Western Europe Other (Specify) Which of the following would be of interest to you? (Check all that apply.) o Cultural sites o Historical sites o Natural wonders o Tours that would enhance business o Backpacking tours o Traveling with special interest groups o Luxury hotels o Meeting local people o Shopping for locally produced items o Other (Specify) _________ _ What mode of travel do you enjoy? (Check all that apply.) o Air o Bus o Train o Biking o Boat o Walking o Other (Specify) Would you be interested in a tour of the Southwestern United States in conjunction with the School's homecoming events in November? D Yes 0 No 0 Maybe Suggestions: Would you enjoy traveling with a group that included: (Check all that apply.) o Thunderbird alumni only o Thunderbird alumni and family members 18 years or older o Thunderbird alumni and family members under age 18 o Thunderbird students o Thunderbird faculty o Other professionals who are experts in the region to be traveled o Other (Describe) Would you be interested in a global business seminar segment with your tour? DYes 0 No 0 Maybe if yes, what topics would be of interest to you? Would you volunteer to assist with groups of T'bird alumni visiting to learn about your city, country or region of the world? D Yes 0 No 0 Maybe indicate the percentage of unstructured time you prefer on a tour: o None o Less than 25% 0 25% 050% o 75% o More than 75% Please attach any additianal comments. Name ______________ _ Class year ___ _ Home address, ___________ _ Employer ____________ _ Business address, ____________ _ Title, ______________ _ Fax # ______________ _ Return by fax to (602) 978-6814 or mail to Thunderbird, Alumni Relations, 15249 N. 59th Avenue, Glendale, AZ 85306-6006 L _____________________________________________________ ______________ ~ New Construction Projects Create More Modem, Functional Campus New Residence Hall Replaces B Dorm A new residence hall will soon replace the old "B Dorm" which was razed in December. The modern facility will follow the prototype of the new Residence Hall A, completed in 1992. The two-story building will have 56 rooms, nearly double the size of the original B Dorm. Construction will begin in July with completion expected in January, 1996. Even before the new residence hall is completed, the central quad will take on a fresh look with construction of an amphitheater-style activity area. The new area will be used for concerts, club activities, barbecues, receptions, and small special events. The swimming pool is also being renovated, including the installation of new decks and landscaping. THUNDERBIRD XLIX 12 I 1995 The planned addition of the new dorm and dining facility (see below) makes a total of eight new construction projects completed in the past five years at Thunderbird. Other recent campus improvements include year-round floral landscaping; the remodeling of Founders Hall, the old auditOrium, and the Bookstore area; and a new main entrance. Simulated Trading Floor Planned The recent transfer of all library functions to the International Business Information Centre (IBIC) has opened the door for new uses of the old Barton Kyle Yount III '71, grandson of the School's founder, and his son visited the former Yount Memorial Library in March. library building. Interior renovation plans for the Barton Kyle Yount Building include a multimedia center, a simulated trading floor, several seminar and meeting rooms, a publications office for academic journals, and separate offices and classrooms. The trading floor will simulate financial and foreign currency and commodity trading activity for the classroom. "The floor will simulate the real trading activity that graduates might experience in the working world, complete with electronic displays around the room," says finance professor John Mathis. The Multimedia Center, currently housed in the former president's house, will serve as a resource for faculty development of multimedia applications as well as other campus applications. Office space in the remodeled Yount building will accommodate the administrative staff of Information Technology Services. The renovation project, which is expected to take approximately 10 months, will begin this fall. Food Court, Thunderbird Style A new dining facility will introduce a contemporary concept of food service to Thunderbird- the food court. The new facility is expected to include cafeteria-style service, as well as outlets of popular fast food franchises. Plans also include one or more sections for formal food service at individual tables. The food facility, which will replace both the Crossroads Coffee Shop and the Dining Hall, will be located between the Tower Building and the storage hangar. Tentative plans for the old dining hall are to use it for executive education, one of the fastest growing areas at Thunderbird, as well as study rooms and office space. Construction is expected to start in the fall of 1995, with completion in time for the 50th anniversary in the fall of 1996. Changes in Southwest Corner of Campus All but two of the old faculty residences located on the southwest corner of campus have been sold, hoisted onto transport flats, and removed for use elsewhere. The area is being redesigned as a garden with attractive desert landscaping and possibly some picnic areas. Plans are for the former president's home to house the Thunderbird archives project, as well as a reception area, meeting facility, and retreat center. The former home of the late Berger Erickson is currently being used as the executive offices of the YMCA. Future plans call for construction of a YMCA adult fitness center, including a swinuning pool, aerobics room, weight center, and racquetball courts. -By Nelda Crowell Thunderbird Leapfrogs Wharton, Harvard in U.S. News Ranking u.s. News & World Report ranked Thunderbird among top B-schools for international business in its annual survey of "America's Best Graduate Schools." This is the first year Thunderbird was eligible for ranking, as a result of accreditation last April by the AACSB (American Assembly of Collegiate Schools of Business). "We're proud that the employers' perceptions of the institution are close to our objectives," said President Herberger of Thunderbird's number two ranking ahead of Wharton (#3), Columbia (#4), and Harvard (#5). "Now all we have to do is get the deans and MBA program heads to recognize the differences," he added-in reference to The University of South Carolina's number one ranking. The ranking was based on a reputational survey of corporate recruiters, business school deans, and MBA program heads. ~. '<S:NEWS - .- weNtI.n .'RPOtIT _ Business Centers Open in Russia New developments at Thunderbird's American Business Centers (ABCs) in Russia are making it easier for Western companies to pursue business opportunities there. Recent progress at the two business centers in Nizhny Novgorod and Volgograd includes: • Opening of office space in both Russian cities, as well as the hiring of full staff-grand CAMPUS NEWS openings are planned for June 29 and 30. • A planned trade mission June 11-23 for companies seeking to expand export and investment presence in Russia. The mission will provide prearranged meetings with prescreened business partners, local officials, and regional experts on law and investment. Both Nizhny Novgorod and Volgograd are at the forefront of Russian privatization and economic reform efforts, and have been identified as premier areas for Western trade and investment in Russia. Over 250 companies have contacted the Thunderbird ABC office since June, primarily from the manufacturing, consulting, and export/import industries. Companies are most interested in identifying new business opportunities through the ABCs and accessing specialized market reports. Companies also want help locating agents and distributors, identifying viable joint ventures, and finding Russian business partners. Nearly a third of the companies contacting Thunderbird already have a presence in Russia. Funded for $1 million each, the Thunderbird ABCs were established by the U.S. Department of Commerce to help American firms explore trade and investment opportunities in Russia Thunderbird is the only educational institution currently operating an ABC. For more information: • Nizhny Novgorod 011-7-8312-37-22-13 (phone/fax) e-mail email@example.com • Volgograd 011-7-8442-33-5845 (phone/fax) e-mail email@example.com • Thunderbird 602-978-7400 "I think that Mexico can truly become a modern country and re-establish its credibility among the nations of the world," Nicolas Escalante Barrett, Consul General of Mexico, told students in Professor Joaquim Duarte's Strategic Management in Latin America class in February. Executive Education Ranks 5th Worldwide Thunderbird ranked fifth among 55 universities in a worldwide survey of customized executive education programs. Thunderbird earned the top ranking from Brickers International Directory 1995, a leading information source for the executive education industry. "The ranking confirms that we are providing relevant and pragmatic programs to a significant cross-section of global firms," says Ed Barrett, vice president for executive education. Customized programs involve partnerships with individual firms and groups of companies on long-term management development initiatives. (See related story on pg. 12.) India's Road to Economic Reform "McDonald's, Coca Cola, even MTV may come. But that is not economic reform," Siddhartha Shankar Ray, Indian ambassador to the U.S., told students in a lecture about his country's drive towards a capitalist economy. "India's reform is a gigantic rethinking .... we are on the road to change in a very big way-economically, industrially, and politically," he added. Ambassador Ray, a senior member of the National Congress that ushered in India's economic reforms of 1991, helped arrange the successful meeting between President Clinton and Indian Prime Minister Narasimha Rao that finally reestablished relations between the two nations. Ambassador Ray Student Arpana Agarwal explains what life is like in India to local school children taking part in INTERFEST. Over 900 children attended the Thunderbird festival, which promotes cultural diversity. THUNDERBIRD XLIX 12 / 1995 Search on for Alumni Affairs Director Thunderbird is conducting a national search for director of alumni affairs, following the resignation of Bobbie Boyd in March. Bobbie, who served Thunderbird for 11 years, was responsible for building the School's alumni program to its current global outreach of 27,000 alumni. Bobbie directed alumni affairs from 1985 to 1995, and served as coordinator of development services from 1983 to 1985. Thunderbird Starts New Journal A new journal devoted exclusively to international management has been launched by Thunderbird. "We have one of the strongest international management faculty in the world, and felt the field needed a specialized journal," said Professor of World Business Dr. David Ricks, editor-in-chief of the new Journal of International Managem ent. The quarterly will focus on international strategic management, organizational behavior and design, and comparative management. The Spring 1995 issue includes articles on "Keeping High Performers after International Assignments" and "Global Organizational Behavior: Going Beyond Tradition." Dr. J. Stewart Black, associate professor of management, and Dr. Allen J. Morrison, associate professor of policy and strategy, are editors. IO U . H A L O P Intem~~~~_Ma~3gement 4 THUNDERBIRD XLIX 121 1995 CAMPUS NEWS Asian Reunion in Hong Kong Dr. the Honorable David KP. Li (at left), CBE, director and chief executive of the Bank of East Asia, Ltd. in Hong Kong, will speak at the alumni dinner in Hong Kong during the Asian reunion, April 28-30. Dr. Li has been a member of the Thunderbird Board of Trustees since 1993. Dr. Li and Merle A Hinrichs '65 (at right), chairman of Asian Sources Media Group in Hong Kong and a Thunderbird trustee since 1991, have provided valuable assistance to the organizers of the reunion. Chechnya Undermining Foreign Investment? The conflict in Chechnya is damaging Russia's efforts to sell outside investors on its political stability-and undermining foreign investment in the country. That's the analysis Visiting Professor Linda Wetzel, who spent 16 years with the CIA as a Soviet analyst, made at a recent discussion of the implications of the conflict on doing business in Russia Wetzel taught the course Russia in the New World Order as CIA Officer-in-Residence at Thunderbird. Ambassador's Ball The Ambassador's Ball celebrating the beginning of Thunderbird's 50th Anniversary. Saturday, October 28, 1995 Scottsdale, Arizona Proceeds to benefit the Thunderbird Scholarship Fund. Sponsored by the Arizona Consular Corps. For Information, Call 602-978-7761 Global Market Growing in Popularity Thunderbird's new Global Market, which offers ethnic art from all over the world, is keeping manager and art expert Dean Warner '57 very busy. The Global Market sells items on consignment from students. Thirty percent of each sale supports a scholarship fund. Lisa Vogel '83 bought a basket from Botswana while visiting on vacation: "I think it's a great idea for a scholarship fund. I remember a lot of struggling students when I was here." Warner is also exploring selling items through mail-order. In The News India's BusinessWorld Features Recent Grads One of India's leading business magazines, BusinessWorld, featured two T'birds on the cover of its December issue. Vishal Gulati '94 and Aalind Jindal '93 were featured as examples of Indian companies and multinational subsidiaries recruiting managerial talent at leading U.S. and U.K universities. "It's an opportunity to get in at the ground floor and grow with the market," Gulati told BW about his decision to return to India Both Gulati and Jindal were recruited from Thunderbird by Citibank's Indian operations. Alma Modem (From CompuServe magazine, February 1995) "Ever wonder what's going on at your alma mater these days? .. . Alumni Advantage, a new program targeting academic institutions, gives graduates access to their own area online, where they can exchange information for business or pleasure .... Thunderbird founded its forum in April 1994, and alums from as far as Japan and Saudi Arabia have used it for everything from tracking down old friends to learning more about market conditions in other countries. " "Don't Overlook Thunderbird" Says Business Week "Corporate recruiters consider the American Graduate School of International Management in Glendale, Arizona a leader in global business," advised Business Week in its February 13 issue. Business Week also noted (in a somewhat Johnny-corne-lately fashion) a fact that Thunderbird has known for 50 years: "As the worldwide business community becomes more intertwined, international perspective will be a staple of B-school education." Recognition comes slowly sometimes. CAMPUS NEWS Wmterim '95 Expands to Chile, United Arab Emirates Students visit Jebel Ali Free Zone, Moscow Stock Exchange Grabbing passports and luggage, T'birds raced to the all'port as this year's Winterim program commenced. The special threeweek January program offers students concentrated studies in 15 courses taught on-campus and 8 programs overseas. Destinations included Russia, Chile and Peru, Washington, D.C., and the United Arab Emirates, among others. Russia: Moscow Stock Exchange Braving the Russian winter, six students, one visiting professor from Mexico, and Thun- Muscovite street vendor holds traditional hand-painted plate, purchased by Sam Rosenbalm '95. derbird professor Dr. Walter Tuman flew to Moscow in January to experience a number of cultural firsts. According to Sam Rosenbalm '95, Thunderbird was one of the first Western groups allowed to go skiing at Pushkino Resort on the outskirts of Moscow. Previously, Pushkino was reserved for the exclusive use of the Central Committee of the Communist Party and visiting heads of state. The students also toured the newly instituted Moscow Stock Exchange, an organization whose existence was virtually unthinkable under the Soviet regime. Program lectures explored Russian culture and politics, as well as business law, joint ventures, foreign investments and trade. The Russia Winterim was offered in coI\iunction with the International Business School at the Moscow State Institute of International Relations. Chile and Peru: Economist's Round Table Winterim in Chile and Peru was a brand new course cosponsored by the International Studies and the Modern Languages departments. Twenty T'birds were led by Dr. Roy Nelson and Dr. Wanda Lauterborn. In Chile, participants visited the Chilean Stock Exchange, Unilever of Chile, and Chiquita's FRUPAC packing plant. Students also attended The Economist's Round Table on capital markets and financial investment issues. In Peru, the Thunderbird group visited Lima's SIMA Peru Callao shipping yards and the Centro de altos Estudio Militores. Participants also attended lectures by Peruvian Congressman Francisco Tudela, and Glenn Cameron '90 of the American Embassy in Lima Washington D.C.: Largest Group Ever Dr. Llewellyn Howell and Dr. Roe Goddard led 70 students (the largest group ever) to the nation's capital to participate in the U.S. Foreign Economic Policy and the new Global Environment course. "This course really enhanced what we learned in our International Political Economy class," said participant Margaret Raihl '95. The group conducted on-site inspections of the IMF, the World Bank, and MIGA, learning how those institutions work and how their policies have changed over time. The students also were guests of the Embassy of Japan, right after the Kobe earthquake. "In addition to the earthquake, they discussed the trade imbalance, their trade policies and how the rise of economic power in China and Korea will affect Japan," noted Raihl. United Arab Emirates: Jebel Ali Free Zone The United Arab Emirates, which forms the southeastern shore of the Persian Gulf, was the classroom for Dr. Issa Peters' Winterim program. The course emphasized the role of oil in the Middle East and in the economic development of the region. The group stayed in Dubai, a major trading port on the Gulf and also the location of the Jebel Ali Free Zone, a huge shipping and cargo complex complete with port facilities and an all'port. "With no tariffs or duties, the free zone is the reason Dubai is the trade center for the Middle East," commented Barbara Cornett '95. -By Jeanene Edwards -c- - - -5- - - - - - - - - - -o;:=to~ffi7e;c;:uni:'ti:,;~e;ir:c=p:' -e· c;>mpu erve Fax to (602) 978-8238 15249 N. 59th Avenue, Glendale, AZ 85306-6007 '" Check one: 0 Business 0 Home Nrune ________________________________________________________ ___ Please send me a kit for ( specify one): Addre~ ________________________________________________________ ___ City_____________________________ State_ ________ Postal code._ ________ Type 0 DOS 0 Mac 0 Windows Country _________________ Phone Fax.________________ Disk Size 03.5" 0 5.25" ID Number Cl~ year _______________ 0 Alumnus 0 Student Current CompuServe CompuServe Non-members: Sign-up and Payment Sign me up for the Thunderbird Forum. Membership includes a CompuServe software kit, one month free usage in basic services, and a $25 credit for extended services. o I have enclosed a check for $18 (US), payable to "Thunderbird" o Charge $18 (US) for the above services to my 0 Visa 0 MasterCard Card Noo _________________________________ Exp. Date. ________________ _ Si~ture ________________________________________________________ __ Members Sign-up o I'm already a CompuServe member. Please send me a message via CompuServe on how to sign up for the Thunderbird Forum. I understand that CompuServe will bill me an additional $3 per month for unlimited usage of the Forum. My CompuServe ID number is: ________ __ THUNDERBIRD XUX /21 1995 A troubling wake-up call from the financial markets alerts the world to a new order. Revolution might be too strong a word to accurately describe what is going on in today's global financial markets, but it certainly captures the feeling of the moment. Over the past year one shock wave after another rippled through the world financial industry, each time with relatively little warning. Consider the following 1994 milestones in disaster: • Hedge fund manager George Soros, who in 1992 captured a billion dollars in three days by edging Great Britain out of the European Exchange Rate System, lost $600 million when interest rates jumped unexpectedly. • Derivative disasters cost Procter & Gamble reported losses of $157 million, Air Products & Chemicals $122 million, and Orange County, Calif. $1.7 billion in public monies. • Mexico, long considered a model for emerging markets, was forced to seek a $53 billion bailout after debt and lack of hard cash sent the peso crashing. More recently two veteran institutions joined the disaster club: Barings PLC merchant bank was destroyed overnight by $1.3 billion in losses on derivatives incurred by 28-year-old futures trader Nick Leeson. And in THUNDERBIRD XLIX 121 1995 March that leader of global currency, the U.S. dollar, crashed hard against the German mark as investors and traders retreated from the dollar's longstanding monopoly as the currency of choice. What's going on? Is this year-long volatility a sign of imminent collapse? Or just the growing pains of a new world financial order? Probably the latter, says Dr. John Mathis, professor of international banking and finance . While disasters of the past year highlight new risks to guard against, "overall the financial arena is sound," says Mathis. In fact, experts say the arena • has become so global, so immense, so interconnected-and so market driven- that perhaps no single event is strong enough to collapse the entire system. "The fmancial markets have become much deeper and richer," adds Mathis. And why wouldn't this be so? With literally trillions of dollars coursing through its veins, the market appears to be developing its own system of punishment and reward, checks and balances. Unlike the world of Bretton Woods, the new financial order no longer recognizes the sovereignty of specific countries, currencies, or mar- Pains kets. Instead, it sees the entire global economic system as its playground. In a sense, the new world market itself is developing its own sovereignty: Walls that once existed between markets, countries, and currencies are being pulled 90wn, just like the Berlin Wall. "The world is changing, and the shifts in markets are no longer just domestic, they are global," notes Chris Matlon '66, senior vice president of Chase Manhattan Bank. The world currency crisis this past March provides a good example of how the new global order is controlling countries, capital, and trading, accord-ing to Dr. Taeho Kim, professor of economics and international banking. Amid fear of the crashing peso and an unresponsive U.S. Federal Reserve, global money managers didn't hesitate to dump Eurocurrencies and dollars in favor of the more robust German mark. By shifting in record numbers away from the dollar to the stability and safety of the Bundesbank, traders generated a massive shift in global currency flows and economic power. Turns out that the U.S., long the preeminent repository of the world's reserve currency, is just another player at the table in this new global order. "A watershed in global finance that had been a long time coming," said Business Week of this historical shift in the global financial order. Who or what is behind this shift? Indicators suggest that the shift is a result of the millions of individuals and institutions who, in the boom of the early 1990s, eagerly pumped their money into the surging and enormously profitable global markets. This new ruling class is a fundamentally dif-ferent, more demanding, more profithungry master than the banks and development agencies that in the past provided the world's capital supply. Perhaps more important, it is a global class of investors that, thanks to technological leaps, can act rapidly and with more information than ever before in history. In the new order money flows very quickly, with millions, even billions moving in or out of an economy in seconds. "In order to survive in to day's trading world, you definitely need a strong understanding of the complex interrelationship between international economics and business," says Emilio Lamar '78, managing director of International Emerging Markets at Merrill Lynch. European Union. Of course the U.S. is certainly not the only country in reach of the long arm of the new financiallaw. According to Chris Johnson '86 of the Bank of Nova Scotia, many European nations are experiencing similar negative effects of currency gyrations and shifting investments. Like their cousin the dollar, currencies in Britain, Spain, France and Italy are being driven to record lows against the mark. And as the mark's strength grows, the European Union's plans for a unified European economy with open trade borders, a stable unified currency, and controlled inflation are in doubt. Many countries are having to defend against the mark by hiking interest rates. Not to mention the harm being done to the European free-trade zone as a result of misaligned currencies. Essentially, trade barriers created by the swings in devaluations of currencies and the rise in interest rates (installed as protective measures against the mark) will eventually cause de facto trade wars among EU members. "These misalignments are creating opportunities for cross-border acquisitions," says Johnson. "Many companies are looking to take advantage of the situation. That might be good or bad, depending on what side of the acquisition you're on." Ironically, Germany itself might also be hurt by the mark's gravitational success, as German exports (a vital part of Europe's recovery plan) will surely be restrained and economic recovery slowed. How Europe will be able to achieve its THUNDERBIRD XLIX /2 / 1995 Leaders in Global Finance Skill requirements for the finance profession have significantly changed over the past decade as globalization, deregulation, and new technologies have altered the industry's landscape. At Thunderbird, the finance curriculum has both adapted to those changes-and kept its core focus on developing solid managers. "We approach the financial curriculum from a managerial perspective," says Dr. Michael Moffett, associate professor of finance. "We recognize that there are new techniques and technologies, but ultimately these always come down to the hands of the user. Our focus is on developing solid managerial skills and knowledge, not financial fashion. " Today Thunderbird offers students a rigorous set of fmancial courses that build core analytical skills as well as in-depth knowledge of emerging business practices. "Deep understanding of financial engineering wasn't needed five years ago." notes Moffett. "Today all size firms in all countries have to deal with these issues, and so do our graduates." Thunderbird's financial curriculum features advanced courses in global banking, commodity price risk management, financial engineering and derivatives, international securities investment, multinational corporate finance, global portfolio management, international investment banking, and financial statement analysis. According to Moffett, this international 8 THUNDER81RD XUX 12 I 1995 Dr. Michael Moffett financial curriculum is one of the strongest in education today: "We recently approved the advanced corporate finance course as a requirement of all, students. We have a mix of 5000-level electives that exceeds any major school in the country. And we've got the FORAD model game (part of multinational corporate finance) which is unique in North America Risk Management. One curriculum area in which Thunderbird stands alone is risk management. "I don't know of any other school that covers risk management like we do," says Dr. Llewellyn Howell, chairman of the International Studies Department at Thunderbird. "Other schools have chapters in books or offer it as part of a course, but nothing like the cross-functional integration here." Thunderbird's curriculum integrates financial skills and lmowledge with a careful study of the political, economical, and cultural dimensions of international markets. The result is that students address the question of financial risk management from all sides. A good example is Dr. Howell's course in Political Risk and Global Change. "We approach the risk analysis from a quantitative perspective, which is essential to effective risk management. You can't just guess risk by intuition. We want our students to lmow what risk is, how to measure it, and how to minimize it, " notes Howell. dream of fonning a seamless, unified economy in the face of the new financial order is yet to be seen. What is certain at the moment is that the world market itself is expressing doubt about Europe's shot at economic unification. Emerging Markets. Growing pains are being felt in many emerging markets as well. Take Mexico for example. Before the peso lost half its value at the end of 1994, Mexico was viewed by many investors as the "model" emerging market of the new world economic order. Mexico's U.S.-trained technocrats did everything that investors asked for in order to be rewarded with strong currencies and thriving domestic markets. They opened the country's markets to free trade and foreign investment, they reduced inflation, and they privatized state enterprises. This marriage of convenience was short lived, however. In December, as Mexico depleted its hard-currency reserves in an attempt to bolster the peso, foreign investments- the same ones that instigated the boom market-deserted the country. Even now, in spite of a $53 billion U.S. bailout, the peso has not regained its former stature as wunderki nd. And the realization is setting in that as emerging markets develop, investors can expect periodic bouts of volatility and panic. "Opportunities in emerging markets offer some of the best growth and return potential, but also some of the highest risk because of changing political, social and economic factors," says David Hu '82, managing director of the Emerging Markets Debt Group at Smith Barney. Unfortunately for Mexico, the peso crisis has given everyone else a first look at just how risky and fickle the new global financial order is, particularly when proper safeguards and controls are left lying on the investment drawing board. According to Carlos Roberto Ortiz Nascimento '79, director of Banco Real de Investimento in Brazil, the probability of a similar crisis occurring in Brazil are unlikely precisely because his country has built in close to $40 billion in cash reserves as a safeguard. Still, emerging market countries need to be very careful. "The ramifications for mistakes are gigantic and often instant," says Dr. Llewellyn Howell, chairman of the International Studies Department and leader of Thunderbird's Political Risk and Global Change course. While the new global order may be fickle, it is also predictable to a certain extent. As the saying goes: If you build it, they will come. In late April, Chicago Mercantile Exchange traders plan to revive the peso futures market in an attempt to restore some stability to the battered Mexican currency. Country experts are hoping that futures trading and other market-stabilizing mechanisms will salvage the economy by encouraging liquidity in the market, reducing the volatility of the exchange rate, and hastening the peso's recovery. Recovery or not, the Mexican episode points out a potentially disturbing fact about how the new financial order will treat other emerging markets. "Six months ago we were the darling of the market," Ariel Buira Seira, de~uty governor of the central bank, told Business Week. "Then they went to the opposite extreme. This is very unfair." Clearly fairness is not an investment criteria of the new financial markets. Derivatives. A common thread running throughout last year's financial disasters was the mishaps with derivatives, now standard equipment for both financial institutions and companies. Considered one of the most powerful tools of the new financial order, derivatives are perhaps the greatest innovation in the financial markets in the past quarter century. "Derivatives will continue to be part of the financial landscape for a long time," says Carl Deddens '81, vice president and treasurer at Revlon. On a basic level derivatives are financial contracts written between two parties, and have a value that is "derived" from the value of some underlying financial element or indicator, such as commodities or interest rates or a stock market index. Of course, that simplistic description belies the dangerous nature of derivatives and their potential for causing disaster in the new fmancial markets. When utilized wisely, derivatives make the new financial world simpler, because they give their buyers the ability to manage and mitigate risk. But derivatives can also be a doubl~dged sword of immense power. In fact, in wrong or inexperienced hands, derivatives are a powerful leveraged mechanism for actually creating risk. "In-depth understanding of fmancial engineering wasn't needed five years ago. Today, all size firms in all countries have to deal with these issues," says Dr. Michael Moffett, associate professor of finance. To begin with, given the bewildering variety and complexity of customized derivatives, trying to value these instru-ments is a true Herculean effort. Then there is the tendency of the global markets to do what they wish, including an occasional bout of turbulence-and that means derivative disaster. The bad guy last year was interest rates, which rose with a suddenness unexpected by most of the world. Unfortunately, many companies are taking on complex derivatives with dollar signs in mind, believing that they can outguess the market's movements. Managing Risk. From a broader market perspective, too many corporate managers and banking institutions are neglecting to understand the enormous complexity and potential for disaster of these highly-leveraged instruments. Lack of controls in the new order is all the more dangerous when dealing with financial instruments whose value can fluctuate wildly on even minor movements in currency prices, interest rates, or stock indexes. And of course globalization and the speed with which transactions can move today mean that once problems occur, they can spread more quickly than ever before. "I've seen a growing concern among companies in how they are evaluating their foreign exchange and derivatives risks as a result of these shifts in the global marketplace." says Chris Johnson. "Many companies are questioning the wisdom of assessing corporate-wide risk from several offices scattered around the world." While market regulators have resolutely toughened up their act, it remains in question whether their attempts to neutralize the problems are a match for the actual seriousness of the problem. It is also in question as to who is leading whom: "Regulators are mostly reacting to changes in the market place rather than leading," says Dr. Kim. So what are the lessons to be learned about the new global financial order from the derivatives' debacles, as well as from the other financial disasters of the past year? Lesson number one: Don't underestimate the power and reach of the new financial order. Lesson number two: Expect the global market to dish out its own discipline, often in swift and severe doses. The world is connected now. Growing pains are inevitable. The financial world has changedand that means the whole world has changed. • - By Tlwmas McMiUan THUNDERBIRD XUX 121 1995 ALUMNI COMMENTARY Why Not Create A Global Multicurrency Facility? • By Carl. J. DedJtens '81, Vice President and Treasurer, Revlon Inc. In this age of techno-globalization, the existence of an international multicurrency facility that would allow companies to shift easily between currencies and countries to meet financing needs would seem a given. Not so. Consider the facts: The majority of international corporations finance worldwide operations through a multifarious collection of domestic revolving credit facilities, commercial paper programs, and foreign credit lines. Often these services are provided by a diverse group of financial institutions which have no common link in anyone credit agreement This often translates into divergent inter-creditor interests. In addition, those few companies that do utilize global credit facilities are usually provided with only a limited number of borrowing currencies and funding options. Why this apparent lack of flexibility? And, more importantly, what can financial executives do to obtain greater latitude in financing arrangements? The general answer to the first question is: that's the way it's always been. And history suggests that unless pushed by demand, the market has no imperative to respond with a more flexible product. Maybe that's not so unreasonable. Fact is, providing truly global fmancing arrangements is complicated, both from a logistical and documentation standpoint. For example, large financial institutions can fairly easily provide funding in major currencies such as sterling, German marks, or Canadian dollars. However, providing availability in Italian lire of New Zealand dollars-that's another story. Many financial institutions either cannot (or simply do not) want to be bothered with providing these options. And just how does one handle the mechanics of an agent bank providing notices to a large group of participants for the next day funding requirements-across different time zones and multiple currencies? Or the potential tax and legal implications of documenting cross-border lending arrangements? Add to this list of woes the limitations faced by some new players in the financial markets. Remember, money center banks are not the only providers of "bank" loans today. Corporations are borrowing their term and revolving credit loan requirements from many players: mutual funds, finance companies, U.S. branches of foreign banks (four of the top ten banks in the U.S. are socalled "super-regional" banks). The problem is many of these players do not have capabilities in foreign exchange markets, or have limitations imposed by charters or regulatory agencies. So if a multicurrency financing facility is so complicated, why would we want such an animal in the first place? The answer is simple: It has the potential to do the job better, much better. 1 0 THUNDERBIRD XLIX 12 I 1995 By rolling up a company's bank requirements into one global package, management of the function becomes less complicated. This can be particularly important if you are doing business in 20 to 30 different countries, each with its own separately negotiated and documented credit agreements, all maturing at different times. In addition, creating a consolidated global facility could attract major financial institutions that otherwise would not want to provide a series of smaller credits. A combined facility provides uniform pricing to all of a company's subsidiaries. Reporting requirements are also simplified by dealing with a single agent bank. Moreover, having a consolidated bank group eliminates the intercreditor conflicts which can exist with separate facilities. From a financial standpoint, a global currency facility ensures immediate funding availability as a company expands its existing business in a given "Whywould we want such an animal? Simple: It has the potential to do the job better, much better." country or enters new markets. It also allows a company to quickly respond to financial engineering opportunities. For example, a company can quickly increase or decrease a sulr sidiary's debt level to deal with a specific tax consideration or capital structure requirement The answer to the second question, "What can a financial executive do to obtain increased flexibility?" is simple: Be creative and forceful in dealing with your bankers. Commercial banks today want to earn advisory fees more than they want to make loans. And they are constantly bringing new and sophisticated financial products to the market place. If pushed by the customer, odds are they can solve the logistical problems associated with a global facility. Take the problem of institutions not being able to fund in a particular currency. This can be dealt with by using a "fronting bank" concept, where all loans in a particular currency are made by a single member of the bank group. The other syndicate members share in the loan income and have a contingent obligation to the fronting bank (as if they had actually made a loan). This arrangement also eliminates the need to provide borrowing notices to multiple participants in different time zones. Lastly, the issue of new financial players not being able to participate in multicurrency financing at all can be solved by creating separate entities that are designated strictly for domestic U.S. dollar usage. All said, the benefits of a global multicurrency facility far outweigh the costs. • ~_5_0_ _Y_ E_A_RS_ O_F _G_ LO_ B_ A_L_ FR_IE_N_D_ SH _I_P _~ ~ IITHUNDERBIRD PRODUCES GRADUATES WITH THE UNDERSTANDING AND SENSITIVITY TO MAKE A GENUINE CONTRIBUTION TO WORLD PEACE AND PROSPERITY .... I INVITE ALL TO SHARE IN THIS VIS ION. " 'i Merle A. Hinrichs '65, Chairman, Asian Sources Media Group, Hong Kong This November marks the beginning of Thunderbird's 50 year anniversary. What better way to show your concern for world understanding than by joining with 27,000 other T'birds and pledg-ing your support for Thunderbird's valuable mission. LEVERAGE YOUR GIFT! For 50 years Thunderbird has produced world ambassadors of business and cultural understanding-people like yourself. The strength of a Thunderbird education is found not only in the classroom, but in the School's global reputation and vast alumni network. ~ Your contribution funds projects like the exciting new International Business Information Centre (IBIC), and brings worldclass professors to the SchooL ~ <2.!Iality facilities and faculty increase the worldwide standing of Thunderbird, and enhance the reputation of the MIM degree. ~ Alumni funds also help build scholarships and attract highquality students to Thunderbird, building a stronger alumni network. For every .3 you donate spcci6caJly for support of the c:xriting new International Business Information Centre (IDIC), Merle A. Hinrichs '65 will match an additional'1 up to S375,OOO. Donate .500 or more, and your name will be engraved on an exclusive plaque prominently displayed at the mlc entrance. Help preserve Thunderhird's important mission. Pledge today. Donations will be recognized with the following gifts: ~ $25 to $49-The 100% Participation Campaign Pin ~ $50 to $149-The pin and a Thunderbird business card holder ~ $150 or more-The pin and a Parker Pen imprinted with flags of the world. Thank you for your generosity. FAX to (602) 978-6814 Or mail to Alumni Relations Office, Thunderbird, 15249 N. 59th Avenue, Glendale, AZ 85306-6006 I would like to pledge my support for Thunderbird's mission with a gift of: o S500 o SlOO o $50 o $25 o Other _ _ My gift will be matched by: ____ _ Method of Payment: o Visa 0 MasterCard 0 Check or Money Order Account # ___________ _ Expiration Date _________ _ Signature (required) ________ _ Name. ____________ _ Address, ____________ _ prup~#_------------- * Please use my gift for: o International Business Centre o Student Scholarships o Faculty Development o Presidential Discretionary Fund o Where the need is greatest o Other ______ _ I have also enclosed: o My change of address o News for Thunderbird magazine 101 _______ _ SPECIAL REPORT: EXECUTIVE EDUCATION Hungry For Success Thunderbird executive education is experiencing explosive growth. Why so much success in an industry that is shaking down? /i..few years ago Fortune magazine managed to ruffle the feathers on business schools by making some not-so-kind remarks about executive education: "Plenty [schools] are greedy, lazy, and incompetent," it lamented. "Because executive education is so profitable, many have rushed into the business. The teachers they provide may be academic drones without the temperament or solid consulting experience to satisfy veteran executives. You should require even accomplished professors to familiarize themselves with your company's business issues and coordinate their presentations with other teachers.'" Funny how the truth smarts. Today a revolution is underway in executive In particular, growth in the "consortium" and "custom" or in-house program areas has been phenomenal, exceeding 100 percent a year. Consortium programs involve a group of five to ten non-competing companies who work collectively with the school to design and run a targeted program. Companies don't have to pull a large group of people off the job at onceand they can learn from each other. "We set up our original consortium so each company sent a specified number of participants for four versions of the same program. Mer that, obligations ceased," says Barrett of the Thunderbird International Consortia. "The program has been so successful that we're now running number six or seven and have two or three more already scheduled. We've even started a second consortium." Thunderbird consortium members are no small players either: Vitro S.A. (Mexico), Amoco, GM, Fluor Daniel, Honeywell, IBM, Kellogg Company, Scott Paper, Warner-Lambert, AlliedSignal, Goldman Sachs & Company, education. Companies want programs that help meet specific business objectives and gain immediate results. They want professors with experience in the business world, not academia And in increasing numbers, they want programs that are not simply cross-functional, but cross-cultural and global. "In 1989 yearly revenues were around $600,000; 1995 AT&T, Black & Decker, Dow Chemical, EDS, Sunkyong. "These are impressive companies," notes Barrett, "They have given thought to where they put their money." Not surprisingly, Thunderbird's executive education programs are experiencing explosive growth. In 1989 revenues are expected to top $5 million. Why so much success?" Thunderbird is also producing a number of customized single-company programs, including ones for Brunswick Corporation, Singapore Airlines, and IBM. "To my knowl-yearly revenues were around $600,000; 1995 revenues are expected to top $5 million. Why so much success in an industry that is, like its customers, downsizing dramatically? "We have grown rapidly at a time when executive education as a whole is flat," says Ed Barrett, vice president for executive education, who came to Thunderbird in 1990. "Some schools are growing, some shrinking. But no one is growing at our rate or anything even approaching our rate." 12 THUNDERBIRD XLIX 12 / 1995 edge, we are the only graduate school provider of executive education for IBM," says Barrett. "When Gerstner came in as CEO at IBM, he shut down executive education, started with a clean sheet. We were first through the door-and last." Why the success? What is driving companies to Thunderbird, and making them stay? In large part Thunderbird has a unique franchise, in the sense of who it is and what it is trying to achieve. After all, the School has been internationally (top) Vice President Ed Barrett's and former Secretary General of OPEC Dr. Subroto's powerful understanding of the world oil and gas industry gives Thunderbird an advantage in attracting companies to executive programs. (bottom) Associate Professor John M. Zerio plays a key role in Thunderbird's corporate consulting program, working with domestic and foreign companies to solve marketing problems. oriented for approaching 50 years. What that means is that there is a collective mind set at Thunderbird to think internationally, to think cross-border, and to think cross-culturally. Says Barrett: "If we are trying to work with understanding a particular region of the world, we have people here who know Japan. They know business practices in Japan, many have perhaps run a business in Japan. We have people who know mainland China, people who know Indonesia We have business faculty who know the problems of doing business in a particular part of the world, and IS faculty who understand what the culture and politics are like." In short, Thunderbird is beating out older and more established schools because it can put together a tailored program that has elements of business, culture, and politics fused together. For most schools crossing functional areas is More international: Thunder-bird's executive education is beating out older and more established schools because it fuses business, culture, and politics together. not too difficult; but crossing borders into international political, economic, or cultural issues is a different ball game, one Thunderbird probably does better than anyone. Comments Donna Banks, vice president for research at the Kellogg Company, of her experience with Thunderbird's International Consortia program: "The course is the best one I've ever attended as an executive. It is extremely realistic." Perhaps even more important than where Thunderbird faculty can take a company is how they take them. "There are very few schools where you can get language, international studies, and management faculty to work so in sync with each other," says Barrett. "Our faculty work together as a team, and can deliver programs that in their totality New Leadership Program A new Leadership Certificate Program will be offered by Executive Education in fall 1995, covering global management issues in 14 three-hour sessions (12 evenings and 2 Saturdays). For information, contact Ann Wohl, Director EMIM, at 602-978-7920. are much more sharply focused for what a company or group of companies needs." Faculty at Thunderbird are no "academic drones" either. They have either worked extensively in industry or done comprehensive consulting, case writing and field research. What does that bring to the negotiating table when competing with other institutions? It brings faculty who have one foot firmly planted in academia, and the other firmly planted in the business world. "Take Brunswick for example," says Barrett. "One of the reasons they looked at us is because they were looking for a global program. Another reason they chose us is the faculty they talked to are people who have a good grasp of what goes on inside a living global organization. It is not a group of faculty who say 'in theory this is what you should find,' but are not sure if that is reality." Perhaps more so than other institutions, Thunderbird faculty are inclined to be in the trenches, and to understand what is going on within the organization. "Remember," Barrett points out, "this school grew out of the business community, not the academic community. While it is very much an academic institution, the roots of this institution are every bit as much in the business community. I think that makes a difference, and not just philosophically. " Still, the competition for executive education remains fierce. And industry patterns suggest the shake out will only continue, maybe even increase. So why will companies continue to choose Thunderbird for executive education? Probably for three reasons, says Barrett. The first has to do with Thunderbird's core identity: "This school truly understands the global arena. Of course, no school can claim a monopoly on that. But because of who and what Thunderbird is, we have a range of faculty and a depth of knowledge and experience in the global arena that most other schools don't have, and perhaps may never have." The second reason involves Thunderbird's ability to put its money where its mouth is: "We have a solid track record of successfully working with an impressive stable of global companies from the last few years," says Barrett. "What is important about saying 'from the last few years' is the world has changed so dramatically in the last decade that if you had satisfied clients 10 years ago, that doesn't necessarily mean that what you are doing today is relevant. We can provide a list of clients that have worked with us in the last 24 months on contemporary problems who are extremely satisfied with the results and the way we worked with them. That says a lot about our ability to stay ahead of the change curve." And the third reason? That one's more indefinable, says Barrett, having to do with the way Thunderbird cares about the impact that its programs has on people. "We are a customer oriented organization. Of course, that's easy to say. But the firms we work with will back up that statement 100 percent." Beyond the faculty, beyond the expertise, at heart Thunderbird is an executive program that first listens and tries to understand a company's problems and needs-and then matches the educational program to those needs. "In truth, part of it may be that we are simply more hungry," muses Barrett. "Not all schools are hungry like we are." -By TIwmas McMillan THUNDERBIRD XLIX 121 1995 13 Surfing the Thllllderbird Forum 1,300 alumni in 39 countries are networking on CompuServe's Thunderbird Forum • By Mary MitcheU Let's say you haven't yet joined the Thunderbird Forum on CompuServe. Worried you may have missed the boat on an exciting new way to network with other T'birds worldwide? Good news: now's the best time to join more than 1,300 alumni already surfing this private, online meeting place designed exclusively for Thunderbird. Members are talking online about subjects ranging from job openings to alumni activities, exporting to entrepreneurship. They're accessing an online library of files, participating in real-time conferencing, looking up other T'birds-even chatting in an "Online Pub." Members are also accessing more than 900 other CompuServe forums, hundreds of databases, international news services, electronic mail, and connection to the Internet. Here are four stories about T'birds using the forum to make business contacts, find jobs, promote alumni activities- or simply talk with faraway classmates. -- - -- ' •.. i."'.'!, _'1' : Carol (Delperdang) Vincent '89 and Glen A. Michel '92 Lobsters and Women's Sportswear What do Maine lobsters, Japan, and women's sportswear have in common? A message titled "Maine lobsters to Japan," from Carol (Delperdang) Vincent '89 in Los Angeles started this tale. Vincent was seeking more information about the Japanese seafood market for her part-time exportJimport business, Global Trade Consultants. Her message caught the attention of Glen A Michel '92 in the Customs and International Trade Practice of Deloitte & 14 THUNDERBIRD XLIX 12 I 1995 Touche LLP in Los Angeles. Since Michel had spent many years in Japan and was familiar with U.S. restaurant chains there, he had suggestions for Vincent. About to post his response, he noticed Vincent had entered the forum, so he invited her to chat online about lobster exporting. Vmcent soon realized that Michel's expertise could assist her in a different way, related to her position in importiexport at Gilda Marx Inc., one of the world's top women's sportswear companies. Before long, Vincent had become Michel's client. Favorite Files Here are five favorite files and their locations in the Thunderbird Forum: • American Business Centers in Russia (ABc.TXT) in Export/Import • Alumni Opportunities bulletin (listed by date) in Jobs-Pre '93 Alums • Humorous Rejection letter (REJECT.TXn in Jobs-New Grads • First Tuesday contact list (FIR STU) in Alumni Activities • Job searching and the Thunderbird Forum (FORJOB.Txn in Career Tips Zulfiqar Khan '90 used the forum to query other T'birds about how to minimize inland shipping and warehousing costs for his startup import company. Michel subsequently obtained for Vincent a 99 percent refund of duties and taxes on certain goods, part of a "duty drawback." "Drawback has been around for a long time," says Michel, "but it's little used because people don't know to ask about it." Vincent also relied on the forum in planning her first business trip to Hong Kong, eliciting information about local customs and contacts for the First Tuesday gathering (she subsequently met 30 Hong Kong T'birds). "People talk about the Thunderbird network as a concept," says Vincent. "Through the forum, you can see it working." (For information about duty drawback, see DRAWBK.TXT in the ExportJImport library). Online Job Search Works G. Macy Merriman's story began about a year ago, when a friend contacted him with an opportunity to work in Paris. Merriman '90 reasoned that if he were to consider switching jobs, he should investigate other possibilities. He began responding to offers listed in the online "Alumni Opportunities" bulletin in the Thunderbird Forum's "Jobs-Pre '93 Alums" library (an online newsletter provided biweekly by Career Services). After some months, he noticed an opening with Pioneer Hybrid, the world's largest breeder of hybrid seeds for arable crops. "I also saw this ad in the Financial Times," says Merriman, "but only after I had seen it in the Thunderbird Forum." Merriman sent his resume and cover letter immediately: "When I began communicating with my future boss, who is in Iowa, we used CompuServe Mail-no missed calls and no international phone bills. " Merriman is now marketing manager for Pioneer's hybrid seed corn for the dairy and beef industries. "The hybrid ----.--- a - c ~".~ ~~~ ~ Thunderbird Forum What's Special about the Thunderbird Forum? • Thunderbird was the first university to provide an online alumni network through CompuServe. • You can send and receive e-mail worldwide from CompuServe. • No matter where you move in the world, you keep the same User 10. • Thunderbird's special $12.95 monthly fee includes unlimited access to the Forum and 120 other CompuServe basic services, plus three free hours of access to the Internet each month. seed business is very satisfying," he says. "It seeks to fulfill mankind's ageold need to feed itself while striving to remain on the leading edge of advances in genetic research and development." From his base in Brussels, Merriman now has the world as his territory-and the Thunderbird Forum to thank in part. Marketing Alumni Events As the president of the New York T'bird Alumni Association chapter, Stephen J . Doyle '82 has found the Thunderbird Forum valuable for marketing local alumni events. "Our chapter uses the forum frequently to market New York alumni events, such as the annual Boat Party, T'bird Tuesdays, dinners, speakers and other events," says Doyle, who has worked in international trade for 12 years and is president of Integrity International Stephen Doyle '82 Corp. Doyle also has used the forum to help fellow alums traveling to the Big Apple. "I have been able to reciprocate on several occasions by answering questions other T'birds have regarding visits to New York, or contact names of T'birds in various locations," says Doyle. Note: The New York chapter has contributed a file of job-search tips, specific to networking in the Big Apple (see file DEC2 in the "Career Tips" library of the Thunderbird Forum). Making a Cultural Connection If not for the Thunderbird Forum, Marcella Simon Peralta '84 of Silver Spring, Md. , and Amy Kahn '92 of Phoenix might not have met. But because they connected through the forum, they are now collaborating on a book. A foreign service officer in Central America until the late 1980s, Peralta started her own intercultural training firm, Peralta Associates, in 1990. She has trained Japanese businessmen in American culture, contributed to a World Bank report on Mauritius, and served as a cultural specialist for a Latino Head Start project. "My field is cul-ture," says Peralta, Marcella Simon who uses Compu- Serve's forums as a Peralta '84, (top) means of "seeing what and people from other cul- Amy Kahn '92 tures are thinking." She frequents the African-American Forum for its diversity of opinions and also the International Trade Forum. A few months ago, Peralta placed an inquiry in the Thunderbird Forum. "I was writing a book about diversity training and wanted input on programs from other companies." Another forum member put her in contact with Amy Kahn, also working in that field. "Marcella and I have a lot of the same interests and were doing many of the same things without knowing it," says Kahn, who since graduation has operated Culturelink, a Phoenix-based business that helps corporations identify and resolve cross-cultural training needs. Peralta and Kahn are still looking for a publisher for their diversity training book, and are interested in hearing from T'birds in-you guessed it, the publishing business. • Alt, Who Goes There? "I have enjoyed making new friends and also have obtained contacts for business in Hong Kong and Germany. T'birds have been most helpful in providing everything from suggestions of places to stay and eat, to recommendations of individuals and companies that could assist in business." -Craig Heinze '81 The Hague, The Netherlands "Using the Thunderbird Forum, I have been able to track down and establish contact with five long-lost friends and classmates. Tw have already visited me in Bangkok. It's great to be in touch again." - James Reinnoldt '81 Bangkok, Thailand "CompuServe and the Thunderbird Forum are a regular part of my business day. I find out locations and alumni contacts for First Tuesdays in cities where I'm traveling, and obtain country information. I look up friends in the directory and talk online and via email to the administration, the board of trustees, students and alumni worldwide." -Joe O'Neill '80 Board Member, T'bird Alumni Association Cincinnati, Ohio "It's also fun to chat with random T'birds all over the world. Since I'm logged on at bizarre hours, I usually get to talk to T'birds in Europe and the Americas at the same time. -Jennifer Warner '95 Barcelona, Spain (ESADE) "It is really beneficial to know I can log onto the forum and, in a matter of hours, learn the name of a friendly contact in practically any country around the globe, find out which part of an unfamiliar city is the best to find a good hotel, or simply locate a missing friend." -Stephen J. Doyle '82 New York Chapter President "A person from my graduating class was pleasantly surprised to see my messages, as it had been a number of years since we had been in touch. An advantage of the Thunderbird Forum is that no matter where in the world you are, you can be found." -Bruce Crumley '76 Danbury, Conn. THUNDERBIRD XUX 121 1995 15 Creative Ways to Give There are many creative ways to assist the School in its educational mission. Naming Thunderbird as a beneficiary in your will is one way. Berger Erickson, one of Thunderbird's most beloved administrators, bequested a major portion of his estate to the School when he died two years ago. Bequests to Thunderbird may be designated as unrestricted, in which case they are added to the general endowment or operating fund, or restricted for a specific use, such as student scholarships. The donation of property is another tax-smart way to show support for Thunderbird. John G. Cullen '68, executive vice president of NCR Corporation in Madrid, Spain, recently donated two houses he had purchased for his two sons, John J. Cullen '92 and Michael W. Cullen '94, to live in while they attended Thunderbird. Proceeds from the sale of the properties went towards a scholarship fund that John '68 had previously estab- 16 THUNDERBIRD XLIX 12 1 1995 Berger Erickson lished in his father's name (his father, Arthur Cullen, was one of Thunderbird's first professors). John is also on the Board of Directors of Thunderbird's French Geneva Campus in Archamps. John's brother, Michael C. Cullen '72, is also a T'bird. Fred Koppl '52 of Munich, Germany has provided a $19,500 lead gift for a scholarship in the name of former Thunderbird President William L. Schurz. Schurz, who served as president from 1949 to 1951 after General Yount's death, was an affable, caring man held in high regard by the students. In fact, Schurz resigned from the presidency after only two years so he could return to the classroom and his students. Koppl is currently raising additional funding for the Schurz scholarship from alumni who graduated between 1946 and 1963. Benefits of Charitable Remainder Trusts A charitable trust can provide financial returns for youand Thunderbird • By Kristi HoweU The fear of capital gains taxes eating up profits often keeps investors from selling highly appreciated assets-even though portfolio diversification and increased income are investment priorities. One attractive solution to that problem is a charitable remainder trust. By setting up a charitable trust, an investor can eliminate the capital gains tax, take immediate advantage of a charitable income tax deduction, profit from a higher income stream, and possibly reduce future estate tax liability. How so? A charitable remainder trust is a tax exempt entity. Accordingly, a person who makes a gift to such a trust becomes entitled to a charitable income tax deduction. Further, the trustee of such a trust can sell appreciated assets without incurring a capital gains tax. And there is more. A person who creates and funds such a trust can retain the right to receive the income on the gifted property for himself and his spouse for their lives or for a fixed term of years. Fred Koppl '52 Income for life There are two types of charitable remainder trusts. The first type, called a "variable trust" or "uni-trust," pays a fixed percentage of the variable fair market value of the trust's assets, valued annually. The second type, called an "annuity trust," provides a fixed annual payment based on the fair market value of the original assets. Here's how it works. Suppose you establish a trust into which you donate appreciated assets. Since the trust is exempt from tax, it can then sell those assets without paying any capital gains tax (effectively increasing the after-tax value of the assets by 28 percent, compared to selling them yourself) . Proceeds from the sale are then available to be invested in vehicles offering higher returns than your original assets. An Example Here is an example:* Say you bought stock several years ago for $6,000, and today it is worth $30,000 with a dividend return of 3 percent. Let's assume you are in the 31 percent federal tax bracket. If you sold that stock, you would have to pay capital gains tax of approximately $6,720, leaving you with $23,280. Assuming you invest that at 6 percent, you would generate $1,396 annually for the rest of your life. Now, consider the same scenario if you set up a charitable remainder trust. Since the stock is being sold by the trust with no capital gains tax, the entire $30,000 would be available for reinvestment. Assuming the same 6 percent reinvestment, you would now generate $1,800 in annual income. More iniporThe trust then provides an income payment to you (or someone else you choose) for life or for a fixed term of years. A Tax Deduction In addition to avoiding capital gains tax and increasing your income stream, a trust entitles you to a current charitable income tax deduction. As you might guess, however, that deduction is less than the "Eliminate the capital gains tax, and take immediate advantage tantly, the contribution deduction would reduce your immediate taxes by $9,300. Last but not least, even though the donor has enjoyed the fruits of the gifted property for life, an estate tax deduction for the assets passing to charity wipes out some of all of the tax that would otherwise be payable. of a charitable tax deduction." present market value of the assets donated. That is because you have not completely relinquished your stake in the assets. Just how much is your deduction worth? That is primarily a function of your age. In general, the older the income beneficiary, the higher the deduction, since the IRS figures the charity will get its share sooner with an older beneficiary. Two other rules that apply to the deduction are worth noting. For contributions of cash, your actual deduction is restricted to 50 percent of your adjusted gross income. For contributions of appreciated assets, the amount of your deduction is restricted to 30 percent of your AGI. However, in both cases a five-year "carryover" rule applies, whereby any unused deduction can be carried forward for up to five years. Charitable remainder trusts offer many substantial benefits for both the donor and Thunderbird. These and other creative investment options, such as pooled-income funds (see accompanying box), can allow you to enjoy the financial and altruistic rewards of charitable giving, while at the same time retaining an interest in the assets donated. • Professional legal, tax, andfinancial planning advisors can lead you through the issues and assist infinding the option which bestfits your financial si tuation and needs. Thunderbird can provide addi tional assistance. For more information, contact the Development Office at (602) 978-7137. * (for comparative purposes only; actual returns may differ) - Virtues of Pooled Income Funds Another attractive charitable investment to consider is the pooled income fund A pooled income fund is a large trust (assets are pooled with those of other donors) maintained by a charity to which you may donate the remainder interest in property while maintaining a life income. The result is a more leveraged return for both the donor and Thunderbird. Consider this example: A 67-year old donor wishes to contributel invest $25.000 in Thunderbird's pooled income fund. The donor transfers common stocks valued at $25.000 into the fund. These stocks were valued at $10.000 when purchased many years ago. Assume the fund pays 8% and the donor's top marginal tax bracket is 28%. Here's what happens: The donor transfers appreciated stocks to the plan: ................................. $25.000 The donor receives a federal tax deduction (based on IRS actuarial table) of $9.460. Which. in the 28% tax bracket, results in federal tax savings of: ......... $2.649 Plus an Arizona state tax deduction of: ................ $757 Plus federal and state capital gains tax savings of: .... $5.400 For total tax savings of: ......................... $8.806 Which reduces the net cost of the gift/investment to: .................... $16.194 Assuming return on the $25.000 at 8%. the donor receives lifetime annual payments of: ............................. $2.000 (Compare to the stock's original 3% annual dividend): .... $750 Resulting in an increase in annual income of: ...................... $1.250 Yield on Net Investment The donor contributed $25,000, realized tax savings of $8,806 (meaning a net investment of only $16,194), increased annual income by $1,250, and earned a 12.3% effective rate of return ($2,000 divided by $16,194). (This information is based on IRS actuarial tables and is general in nature.) Thunderbird offers a pooled income fund currenUy invested in a U.S. Money Market Fund and an Intermediate Bond Fund. The principle donation is eventually passed on to Thunderbird. Any proceeds earned are used to increase Thunderbird's endowment unless otherwise specified by the donor. For more information, contact the Development Office at (602) 978-7137. THUNDERBIRD XUX 12 I 1995 17 INTERNATIONAL Canada Second Tuesdays are held at the Movenpick at 165 York Street near the Sheraton in downtown Toronto. Second Tuesdays start at 6:30 p.m., offering drinks and free food. For more information, call Susan MacGregor at (416) 656-6261 or Barbara Tsai at (416) 595-5413. Hong Kong The dazzling city of Hong Kong played host to the Thunderbird Asian Reunion, April 28-30. See the next issue of Thunderbird magazine for complete coverage. India (See photo next page.) The Netherlands A new committee for the Dutch chapter of the alumni association has been formed with Rene van Baardewijk '91 as chapter leader. Other committee members are Wilbur Bakker Schut '86, Bertil Duinhouwer '91, Ben Kroon '87, and Rombout and Canan Peer '91. The new committee is looking to reactivate T'bird alumni participation and activities in The Netherlands. In January 75 members kicked off the year with a gettogether and buffet dinner at Cafe Gallery Dante in Amsterdam. T'birds came from Germany and Belgium to attend the event, in addition to a delegation from the Archamps campus. All future First Tuesday meetings will be held at the Cafe Gallery Dante. Mark your calendars for the First Tuesdays of each month starting at 19:00 hours. For more information, call Rene van Baardewijk at (31) 020-6464732. Russia The Winterim in Russia class was the special guest at the Second Tuesday in Moscow at the Sante Fe Bar and Grill. Also attending were T'bird professors Drs. Dale Davison and Walter Tuman. The general topic of the January meeting was expatriate marketing in Russia 18 THUNDERBIRD XUX 12 I 1995 NETWORK TAA Board News Special Chapter Events for T'bird's 50th Believe it or not. the 50th anniversary of Thunderbird kicks off this fall! The Thunderbird Alumni Association Board and the Office of Alumni Relations are planning a number of exciting new programs to assist individual chapters in their own celebration of this special rbird anniversary: * New events and programs are being created for this year's homecoming celebration in November, including gala individual class events and a mini business conference. * A "traveling journal" will move from chapter to chapter throughout the world, starting at the 1995 homecoming and ending at the 1996 homecoming. It will serve as a firsthand account of the 50th anniversary year as experienced by alumni groups around the world. * Individual chapters will be assisted in creating their own anniversary celebrations all over the globe. * A new awards program is being developed to honor individual members of each chapter throughout the Thunderbird network. These awards will recognize service and dedication to the alumni program, and recipients will be selected by their local chapter. Keep your eyes and ears open for these and other special 50th anniversary homecoming plans through mailings, announcements on the CompuServe Thunderbird Forum, and upcoming issues of Thunderbird magazine. ... Madrid's Christmas reunion drew 48 alumni. For chapter information, contact Felix Guimoye '90 at 34-1-559-1915. Spain Barcelona Tbirds held their March First Tuesday at the Can Punetas at Ciutat Balaguer 50. Barcelona First Tuesdays start at 9:30 p.m. Madrid (See photo below.) Sweden Stockholm First Tuesdays are now official! Two get-togethers have already been held, and in April the group plans to meet at Cafe Tivoli, Hornsgatan 31 in Slussen. If you have questions or want more information, call Astrid Boer at 08-7203927, or Christoph Adams at CompuServe 74371,204. UNITED STATES Arizona Phoenix Phoenix T'birds changed the location of their First Tuesday meetings to The Plaza Club atop the Norwest Bank Building at 3300 North Central Avenue. It offers impeccable service with spectacular views. First Tuesdays start at 6:00 p.m. In November, Phoenix Tbirds hosted a number of activities during the annual T'bird homecoming. After the Balloon Race, a softball tournament and an international happy hour, the Alumni Barbecue blow-out was held at the Pub on the Thunderbird campus. The event featured catered food, live music and socializing. For visiting Tbirds who get the urge to stop at the old watering hole for some interesting conversation (in a variety of languages), the Phoenix chapter holds monthly alumni BBQ's on the third Friday of every month at the Pub. For more information, contact president Karen Culver '87 at (602) 504-1722 or on CompuServe at 74371,1020. Reminiscing in Prague 25 ~ years after graduation are (I-r) Dittmar von Hanstein '70 (from Kaliningrad, Russia), Frederic Erne '70 (from Zurich, Switzer-land), M. Lo Locher '69 (from Munich Germany), and Jorgen Lindeskov '70 (from Florence, Italy). California Bay Area Bay Area T'birds held a picnic at the Mondavi Winery in the beautiful Napa Valley in September. Lesley Brown '90, who works for Mondavi, coordinated a wine tasting for her fellow T'birds. The Thunderbird Moonlight Bay Cruise set sail from Pier 40 in the South Beach Harbor in San Francisco in October for a three-hour cruise. Unlike Gilligan and the Skipper, all T'birds returned safely to shore. The annual Christmas party was held at the San Francisco Marriott on December 6. For more information on the Bay Area Thunderbird Alumni Association and First Tuesdays, contact Darlene Drapkin '84 at (415) 332-6820. NOTE: The location for Third Tuesdays has been moved to the Empire Grill & Tap Room in the heart of downtown Palo Alto. The owner, Chip Truett '72, has graciously offered the use of his pub which boasts 16 savory beers on tap. Join other Bay Area T'birds starting at 6:00 p.m. NETWORK Los Angeles A group of 20 T'birds gathered at Alpine Village on October 7, and participated in the Chicken Dance, had German beer from the micro-brewery, and met with each other for several hours of good food and discussion. Thanks to Mike Bunichter '87 who coordinated the T'bird Oktoberfest. In December, L.A. T'birds held their annual Christmas party at Pentola's Taverna. For First Tuesday information, contact Mike Bunichter '87 at (213) 613-3507. Orange County Orange County T'birds have kept a busy schedule of monthly international dinners during 1994. In addition to their Chinese, Cuban, Persian, Egyptian and Korean BBQ dinners, their December holiday dinner rang in the holidays with a Moroccan flavor. Held at the Marrakesh Restaurant in Newport Beach, the feast was complete with food, beverage and belly dancing. Orange County T'birds hold their monthly First Thursdays at Maxi's Lounge at the Red Lion Hotel. Call chapter president Matthew Allbee '92 at (714) 733-3306 for more information. Colorado Colorado T'birds held their annual holiday party and December First Tuesday at the Wynkoop Brewery in Denver, just a baseball's throwaway from the new Coors Field. Colorado now has one of the fastest growing T'bird alumni chapters and urges all to participate in their activities. First Tuesdays are held at the Wynkoop Brewing Company, at the comer of Wynkoop and 18th Street in Lower Downtown (LoDo). Call Audrey Penk '91 at (303) 366-3757 for more information. This winter, Colorado T'birds escaped to the High Country Lodge outside of Breckenridge for a Thunderbird weekend. Escapees had their choice of skiing at Breckenridge, Keystone or the A Basin. Kenny Sununers '70, owner of the High Country Lodge, is a fellow T'bird. District of Columbia The Washington D.C. TAA has changed its First Tuesday meeting locations to the Brickskeller at 1523 22nd Street in Washington, just one block from the Dupont Circle metro station. The selection of global beers in addition to an exclusive room with their own bartender made the Brickskeller a perfect choice. D.C. T'birds held their annual dinner on February 10 at the Little Cafe in Arlington, Virginia. Speakers for the evening included Dr. llewellyn Howell, chairman of Thunderbird's International Studies Department, and Steve Orr '79, chairman of the Thunderbird Alumni Association. Elections for the chapter board were also held. D.C. T'birds who would like to get on the chapter's e-mail list can e-mail their Internet address to Lydia Middleton '91 at middletel@ usa.red-cross.org or call (202) 639-3118. .... • First Tuesday in Bombay, India, organized by Chetan Shah '87 and his wife, Vijay Anand (second and third from the right) . T'birds from The Netherlands converging on the Cafe Gallery Dante in Amsterdam included (I-r) Rene van Baardewijk '91, Edward T. Pennings '93, Elpida Frantzeskarou '93, John D. Stokes '93, and (seated) Jan P. de Smedt '93. THUNDERBIRD XLIX 12 / 1995 19 Florida JacksonviUe I N.E. Florida I South Georgia First Tuesday meetings are now being held at Beau's at the Marriott at Southpoint on Salisbury Road, at 1-95 and Turner Butler in Jacksonville. Official First Tuesday starting time is 6:00 p.rn. Call William H. Hill, Jr. '71 at (904) 285-5576 for more information. South Florida Once again, the Daniels family of Coral Gables offered their home so South Floridian T'birds could share in the fun, food and spirits of the season for the annual Christmas Party. It was truly an international potluck with South Floridian T'birds each bringing an entree or desert representing different countries. Tampa Bay Tampa's first First Tuesday was held at the Cactus Club. (See photo page 22.) NETWORK European Reunion The next Thunderbird European Reunion (June 15-18, 1995) will be held in the ancient Roman city of Mainz, capital city of the State of Rheinland-pfalz in Germany. Located near Frankfurt in the scenic Rhein-Main river valley, Mainz is a treasure of beautiful architecture, outdoor cafes and green parks, and will provide an ideal setting for T'birds to meet old friends and make new acquaintances. The State of Rheinland-pfalz is hosting the 1995 European Reunion as part of the -Nachbar Amerika, - which celebrates 50 years of peace and prosperity between Germany and the u.S. Highlights will include a welcome reception with state officials; visits to 2,000 year-old Kupferberg Sekt Cellars, the Gutenberg Museum, and the l.000-year-old Romanesque cathedral. A panel discussion will feature senior officials of the New European Central Bank as well as a presentation on German commerce and politics. Tbirds will also have the opportunity to attend the annual Thunderbird International Business forum and relax with a wine-tasting party and a scenic Rhein river boat cruise, complete with dinner and dancing. Illinois Chicago In October, the Chicago Thunderbird Alumni Association held a Day at the Races with the University of Chicago Alumni Association. T'birds had their own private Ascot Suite and all-day buffet at the Arlington International Racecourse. During December, the Chicago Alumni Association held elections for officers and members of the board. Marie DeLean '93 and Rich Gesteland '91 were elected as co-presidents with BeI\iamin C. White '92 as treasurer and Ursula Rieger '92 as secretaIy. Elected as Members of the Board were Kimberley Bishop '92, David Reed '89, Patrick Shauglmessy '91, Aleksandra Lubavs '91 and Ann F. Rosen '82. Chicago T'birds have also created a new bi-monthly newsletter, ThunderWord. Contact Paul Prengel at +49 (6131)-163225 or at fax 163447, Arrangements are underway John Cook at +49 (6101)-47618 or at fax 48609, or George for The Great Couch Program, Georgia Redlbacher at +49 (6196)-641474 or at fax 643208. Sponsorships which will help find accommo- Atlanta are also being sought to help support the event. so if your dations for students visiting Camille Pacht '93 has been Chicago from Thunderbird. The elected president of the Atlanta company can participate, give them a calli St. Germaine Cafe was selected chapter and is replacing Mark as the site for a Sunday Brunch Rush '92 who has been assigned held once a month for casual to a project with AT&T in Saudi get-togethers. Call Kim Bishop Arabia. Asa Forsgren '92 is vice '92 for more details at president of Marketing and Katy (312) 935-9236. dBeoneth omfe Srp '9e3c iiasl tEhvee vnitcse. presi- .---.-!..----------::======::::~~;;;;;;;;;;l taInst iFnegb trouuarry w aa sfr aerer abnegeer d The Atlanta Chapter is by the Chicago Brewing helping the Atlanta Company and the Goose Committee for the Olympic Island Brewery. In Games (ACOG) to look for March, the chapter volunteers as envoys during started their own the 1996 games. Envoys International Film work directly with the ath- Festival. letes and officials of the In addition, Chicago Olympic countries. The T'birds changed the ACOG requirements fit the location of their First profile of the average T'bird: Tuesdays to The Red management and leadership Lion, 2446 N. Lincoln ability as well as language Ave. in Lincoln Park. skills. Envoys must be avail- Call Rich Gesteland '91 able for training prior to the at (312) 868-6075 for games and for six weeks more information on during the games. For more First Tuesday. information, contact Leslie Merrick at ACOG at (404) 224-1005. For further information on and First Tuesdays, call Camille Pacht '93 at (404) 813-6882 or (404) 454-9038. 20 THUNDERBIRD XLIX 12 I 1995 .... "Event marketing is a S15 billion business. My job for Knight-Ridder is to get them to think outside the traditional marketing box," said (I) Willie Cone '79, event mar.keting director for the Newspaper Division of Knight-Ridder, Inc. in Miami. Cone, Kim Royster '85, managing director of Pulse Marketing in Los Angeles, and Whit Allen '92, marketing manager of Caribbean and Latin American Operations for AT&T Energy Systems in Dallas, conducted an international marketing workshop for students in March. Maryland Maryland T'birds went on the road with a series of First Tuesday locations alternating in various state areas. The next is Griffin's in Annapolis on May 9. Contact Lisa Garramone Mark '88 for more information (410) 333-8180 or Andrea Deleon '92 at (410) 576-0022. Michigan The Michigan T'birds organize international dinners on a bi-monthly basis with the first dinner held in September at a Japanese restaurant. In February, the chapter held a Lebanese International Dinner at La Shish in Dearborn. For more information, call Kurt Nelson '92 at (313) 240-6409. Minnesota Minnesota T'birds braved the cold in December to go caroling around town. Also in December was First Tuesday held at Brits Pub & Eating Establishment. On January 28, Minnesota T'birds celebrated Chinese New Year in style with a party at the home of Bill and Malyn Wrobel. Winter blahs were brightened up by authentic decorations, traditions, fireworks, personal Chinese horoscopes, and great food and beverages. First Tuesday in February was held at Dixie's Bar & Grill on Grand Avenue. For First Tuesday information call Muriel Gustaba '89 at 698-9157. NETWORK Missouri St. Louis The St. Louis T'bird alumni chapter held their March 7 First Tuesday at the st. Louis Tap Room at 2100 Locust in St. Louis, near Union Station. For more information, contact Joyce Wiegand '92 at (314) 771- 6067 or Internet at Weigand328@aOLcom. New England Mike Yamada '90 of the Detroit Alumni Chapter was one of seven transplanted Japanese recently profiled by Kansai-TV, a national network based in Osaka. Yamada was the subject of a Japanese TV documentary and a series of articles on Osaka natives living overseas. The TV crew followed Yamada around corner will act as an informal job exchange with copies of the latest job postings from the CompuServe T'bird Forum. Vince will also act as a contact point for those seeking jobs, and those who have positions to fill. Over 80 alumni attended the annual holiday party of the Thunderbird Club of New England (see photo). Events on tap for the Detroit to capture a typical work day and Almost 250 New York T'birds and friends gathered for a successful 11th Annual Boat Party. A surplus from ticket sales was sufficient to continue funding the NY chapter's expenses so annual dues are not necessary. In addition, a special $500 scholarship will go to a worthy stuspring include a dent. Caribbean roving dinner, a ski trip, and a subur-ban roving dinner. New officers for the the private life of a Japanese businessman in the U.S., and from Detroit until he landed at Osaka's new international airport, the club for 1995 are Nobu Kondo '83, president; Greg Grande '91, vice president and treasurer; Katherine Brand '92, vice president; Jeff first built on the sea rather than land New York T'birds held their first 1995 social gathering at one of the best known restaurants in Chinatown, the Golden Unicorn Restaurant on March 9. (Yamada's plane was the first to land at the new airport). North '92, vice president; Karen SaskY '88, vice president; and Yvette Morrill '83, newsletter editor. First Tuesday meetings begin at 5:30 p.m. at Union Oyster House, 41 Union Street in downtown Boston. For more information call Nobu Kondo '83 at (508) 668-8776. New York The New York chapter has changed the location of their First Tuesdays to Brew's at 156 E. 34th Street between 3rd and Lexington in Manhattan. First Tuesdays start at 6:00 p.m. For information on T'bird activities in New York City and the surrounding area, call the New York T'bird Hotline at (212) 713-5744. Thanks to board member Vince Daniels '74, there is now a career corner that will be at each T'bird Tuesday. The career Oregon Portland Portland T'birds have been busy with both a Brazilian and a Singaporean Food Fest held during the fall months. First Tuesdays continue to be held at the Red Lion, Maxi's Lounge. Spring plans include a break in the rain, the second annual beer and bratwurst party, vineyard tours and much more. For further information on activities such as language groups, ethnic restaurant outings and First Tuesdays, contact newly elected president Robert Jones '90 at (503) 624-8036. The annual holiday party of the New England chapter drew over 80 alumni. Pictured are (lor) Greg Grande '91, Katherine Brand '92, Karen Sasky '88, Thunderbird President Roy Herberger, Peter Moon '89, Thunderbird Vice President of External Affairs Jenny St. John, and Nobu Kondo '83. Hong Kong chapter alumni • gather for First Tuesday at JJ's in the Grand Hyatt. THUNDERBIRD XUX 12 I 1995 21 Texas Austin The spring calendar of events for Austin T'birds includes First Tuesdays at the following establishments: April, The Cooper Tank; May, The Armadillo Brewing Company and June, The Stone House Brewery. In July, Austin Tbirds plan to go tubing at Schlitterbahn in New Braunfels along with the Dallas, Houston and San Antonio T'bird chapters. To participate in this all-Texas T'bird event, contact Susan Jons '91 at (512) 502-4067 or John Poth Jr. '92 at (512) 327-3868 for more information. Dallas/Ft. Worth On October 25, the DallaslFt. Worth chapter and the Greater Dallas Chamber's International Trade Department sponsored a timely lecture event entitled "NAFrA: Impact of NAFrA and the Impact of the Dallas Labor Secretariet." Dr. Francisco Carrada-Bravo (Tbird professor) and Cathy Golden (Dallas International Trade Department) were the featured speakers for the evening. Tbird alumni and event organizer Peggy McNeil '78 reported there NETWORK was an excellent turnout with over 50 people. The first event of 1995 was held on January 3 at a local brew pub. Remaining First Tuesday locations for the first half of 1995 include: April, the ArcodorolPomodoro; May, the White Swan in Lakewood, and in June, Weldon's Houseboat at Pier 121 Marina in Lake Lewisville. For more information, call the DIFW Alumni Hotline at (214) 913-0515. Houston Dan Morris '91 has organized an International Speaker's Forum for First Tuesdays, which will tap into the vast international experience of the Houston alumni. Each month there will be a 30-minute presentation by an alumnus, colleague or visitor on a topic of their choice as it relates to international business with discussion following. The goals of the forum include offering up-todate information on the global marketplace, and learning more about international activities in the Houston area. In February, Carl Caito '71 with the Conlin Financial Group spoke at First Tuesday. In March Joseph Ringer' 68 of the Export-Import Bank spoke. Houston Tbirds held their annual holiday party at the home of Richard and Inga Koehler '69 in the Galleria area. The celebration had a global aspect as all Tbirds were asked to bring a dish of international origin. Also of note, the Houston area T'bird softball team finished the '94 season with a 5-3 record. First Tuesdays for the Houston Chapter are held at the Black Swan Pub and the Omni Hotel, located off Woodway just outside the 610 West Loop. Contact Dan Morris '91 at (713) 963-7811 for more information. First Thursdays for Northside T'birds are held quarterly at Matthias' Restaurant at 3755 FM 1960 West. Contact Roxanne Skawin '73 at (713) 376-0643. San Antonio The San Antonio Chapter of the Thunderbird Alumni Association celebrated the end of the year with their annual Christmas Blast held at Cascabel Bar at the Sheraton Fiesta in San Antonio. Call Ben Miedema '77 at (210) 341-5658 for more information on San Antonio First Tuesdays. The Detroit chapter's first "International Dinner Club," a bimonthly social gathering at an ethnic restaurant, attracted a large and Washington State Seattle area Tbirds hosted a congratulation reception in November for Washington State spring 1995 T'bird candidates. T'bird alumni shared their perspectives on how Thunderbird influenced their careers and lives, then answered questions from prospective students about housing, life in Glendale, campus life, course schedules and career choices. In December, the Washington State Thunderbird alumni held their Annual Holiday Ball on December 4 at Chateau St. Michel, a local winery. The March First Tuesday was held at Duke's Yacht Club on the east side of Lake Union. Contact Ron Barbera '89 at (206) 851-3943, x271 for more information. Wisconsin Milwaukee Milwaukee Tbirds braving still-cold March weather met at Conejito's Place for Mexican cuisine. Future First Tuesdays dates include May 2, Karl Ratzsch's. To celebrate warmer weather, the Milwaukee Chapter plans to meet during RiverSplash (June 2) and SummerFest (June 30). For more information on Milwaukee Tbird events, call Ellen Dieringer '81 at (414) 351-4035 or (414) 271-3242. hungry crowd of 26 alumni. T -By Jeanene Edwa~ ... Tampa Bay's inaugural First Tuesday was held at the Cactus Club in Tampa. Pictured are (back row I-r) Duncan Thomas '63, William Stewart '90, Ben Connelly '94, Charlie Hounchell '90; (middle row I-r) Mike Lowrey, Jim Harper 22 THUNDERBIRD XLIX 12 I 1995 '74, Jeff Fowler '90, Joe Sam Shirah '76, Ira Stevens '91, Warren Teissier '92; and (front row I-r) Diane Homa '79, Valeria Moody (with daughter), Eric Moody '93, Kimberly O'Shea, and Cecy DeReuil '90. 1947·59 Nicholas J. D'Anna '47 recently returned from Vladivostok, Russia where he and his wife, Joan, served as volunteers for inter· national Executive Search Corps, by assisting Furnitura, a Russian mirror manufacturer. George E. Martin '47 has written two books, Wild Oakie and Man: Scourge of the Earth. He lives in Alpine, CA Walter M. Leonard '49 celebrated his 47th wedding anniversary with his wife, Phyllis, on January 31, 1995. Thomas B. Birch '51 is senior vice-president of communications at intro TechnolOgies Services, inc. He and his wife, Sigrid, live in Newport Beach, CA Frank R. McCarter '51 REUNION '50, '55 NOVEMBER 1995 recently retired from his position as personnel manager of Litton industries. John K. Pidcock '51 works in import/export and consulting related to Japan at Rocky Mountain international Co. He and his wife, Motoe, live in Salt Lake City, lIT. Harry J. Petrequin, Jr. '54 is an international development consultant and lives in Black Mountain, NC. W. Doug Buckmaster '57 is retired and lives in Cambria, CA Walter A. Kellogg '58 is director general at Klemp Corp., a metal fabrication firm. He and his wife, Beverley, live in San Diego, CA Donald H. Schmoldt '58 married Nancy Carlson on January 8, 1993 in Washington, D.C. He is marketing and publicity director with the 4th Wing, Services Squadron of the Air Force in Goldsboro, NC. Leon W. Townsend '58 retired from Chase Manhattan Bank in 1987 and has become senior consultant and advisor to small businesses at Public AdrrUrUstration Service in the Russian Republic of Georgia He and his wife, Valerie, live in Tbilisi. John W. Campbell '59 has retired from his post as a foreign service officer at the U.S. Department of State. He and his wife, Janice, live in Annandale, VA Harold A. Fanning '59 celebrated his 40th wedding anniversary with his wife, Florence, on April 16, 1994. He and his wife are retired and live in Kaneohe, ill. Robert E. Johnson '59 is an interna-tional recruiter at Gaffney Management Consultants, inc. He and his wife, Maria, live in Rolling Meadows, lL. Gary L. Sisler '59 is manager of investment sales at Colliers interamerica, a com-mercial real estate firm. He and his wife, Barbara, live in Miami, Florida, and report it has taken two years to rebuild after Hurricane Andrew. 1960·64 Bnrtt F. McKee III '60 is P.l. administrator at Ron Petica, P.C. He and his wife, Delores, live in Bullhead City, AZ. Jon E. Tucker '60 has retired from Monsanto Co. and is living with his wife, Astrid, in Nathrop, CO. Dan Moriarty '61 is retiring to his Monona, Wisconsin home after working for 30-plus years in overseas development for the World Council of Credit Unions and Catholic Relief Services. John Rutten '61 is a Spanish teacher at Devils Lake Public Schools. He and his wife, Mary, live in Devils Lake, ND. Gerald C. van der Klomp '61 is a developer of golf driving ranges, gaming casinos and theater entertainment complexes on indian reservations. He lives in Palm Desert, CA Lewis R. Brine '62 is vice-president and works in international private banking for Brazil at Bankers Trust Company. He and his wife, June, live REUNION '60 NOVEMBER 1995 UPDATES in Coral Gables, Fl.. Richard E. Hayes '62 is resident advisor of AmTrade international Bank and international director of Banco Mercantil de Descontos. He and his wife, Jane, started instituto Souza Novaes, a program that uses culturally adapted AA principles to treat chemically dependent men and women. He is also partner in an Atlantic Rain Forest presentation project. He and his wife live in Sao Paolo, Brazil. John W. Ziebarth '62 is managing director of Lexington Assoc. in New York City. He is currently assisting Arthur D. Little to develop and expand their Latin American management consulting practice. George Fugelsang '63 is North America chief executive of Dresdner Bank, AG. in New York City. John R. Huminski '63 is international sales manager at Atlanta Attachment international. He and his wife, Nancy, live in Dacula, GA Richardson B. Smith '63 is self-employed as a commodity futures trader and lives with his wife, Laura, in Kiawah lsland, SC. J ohn Votta '63 has recently retired from the U.S. Department of Commerce. He lives in Richmond, VA David B. Goldman '64 has retired as president of his real estate development firm and is full time travel and restaurant columnist with the Los Angeles Times and South Coast Community Newspapers in Santa Barbara, CA TIlOmas E. Jones '64 is general director at Gerber Products Co. in Mexico. He and his wife, Maria, live in Mexico City. Luis C. PiSunyer '64 works as credit administration vice-president for First Mechanics Finance in Bogota, NJ. Ronald O. Stearns '64 directs marketing and sales at Remote Switch Systems, inc. He and his wife, Phyllis, live in Fort Collins, CO. John T. Tung '64 is senior consultant at ABB Combustion Engineering, inc., a finn specializing in power plants. He and his wife, Joan, live in Oriental, NC. Second careers just taste sweeter for some T'birds. David B. Goldman '64 is now a fUll-time travel and restaurant writer. He also serves as director of the International Food Wine and Travel Writers Association. The former president of David B. Goldman Associates, Commercial Real Estate Developers, has regular columns in the Los Angeles Times and South Coast Community Newspapers in Santa Barbara, CA. 1965·69 Eva T. George '65 has relocated to Salem, Oregon to serve as benefits coordinator for Salem School District. Myron S. Kavalgian '65 recently started Mill River Media, an independent media representatives company, in Fairfield, CT. Bailey Nichols '65 is senior vice-president of operations at S.L. Waber, inc. He and his wife, Elisabeth, live in Green Valley, AZ. Jon C. Dyer '66 works as commercial director of Quaker Oats Co. in Guaynabo, Puerto Rico. Michael M. Feeney '66, staff procurement analyst at the Department of the Anny, wrote in with the news that his wife, Carolyn, died on June 10, 1994. He lives in Sierra Vista, AZ. Oliver Ford '66 has recently become executive director of Minnesota State University-Akita (Japan). He lives in St. Paul, MN. Bruce L. Wilson '66 is owner and director of Protei Communications, inc., a firrn specializing in telecommunications. He lives in Bend, OR. Ralph Bailey '67 is owner of Ridgefield Search international, a recruitment firm focusing on multinational manufacturing firms in Latin America, Asia, and the Middle East. He lives in Ridgefield, CT. J ohn H. Dunmar '67 consults for the Dunmar Organization, a marketing and advertising consulting firm in Stamford, CT. Jose Polis '67 works as managing director for Deckers CD.P.C.), a medical equipment company. He lives with his wife, Claudine, in Liege, Belgium. Dean M. Ross '67 is a self-employed real estate development and hospitality consultant. He lives in Puerto Vallarta, Mexico. Richard "Dick" A. Schiendler '67 is an associate at Tax & Financial Group. He and his wife, Mary Cutl'e '68, live in lrvine, CA Eugene REUNION '65 NOVEMBER 1995 C. Sullivan '67 and his wife are retiring after spending 25 years in Asia They live in New Smyrna Beach, FL. Ronald T. Alonzo '68 is marketing vice-president at Somat Corp., a waste reduction and water treatment equipment firm in Coatesville, PA Ken Banks '68 is vice-president of marketing at Circuit City Stores, inc. He and his wife, Sandi, live in Glen Allen, VA David R. Mcintyre '68 is selfemployed as a commercial real estate broker and lives in Miami, FL. Finley Middleton '68 is an elected vice-preSident of Chubb-Europe and legal representative and manager for Chubb-Italy. He and his wife, Carole, live in Milan, Italy. Robert W. Repsher '68 has retired and is now living on Kiawah lsland, SC. H.J. Santo-Coloma '68 is CEO of Santco Holdings, Ltd. a holding company in Coral Gables, FL. Dale Stephens '68 is systems managerlogistics at American Stores Co., a grocery and drug store holding company. He lives in Salt Lake City, lIT. Brian Gauler '69 serves as director at the University of Missouri in Columbia, MO. Thomas A. Hoover '69 is selfemployed and living in Tempe, AZ. Manfred Lo Locher '69 is working with European and American partners on business ventures. He travels with his wife, Angelika, throughout Europe and lives in Munich, Gennany. John W. Stanger '69 serves as group vice-president at ABN Amro Bank, N.V. He and his wife, Kerry, live in Chicago. J ames A. Wood '69 is vice-president at Huber, Hunt & Nichols, inc., a firm specia1izing in professional sports stadium and arena design and construction. He and his wife, Deborah, live in Paradise Valley, AZ. 1970·72 Guido F. Antezana '70 is an international banking consultant and lives in La Paz, Bolivia Edward George Borgens, Jr. '70 is president of Automated Snacks Corp./Solar Gourmet Corp. He and his wife, Helen, live in Phoenix, AZ. A. Douglas Gilmore '70 is director of international operations at Eddie Bauer, inc. He and REUNION '70 NOVEMBER 1995 his wife, Joy, live in Bellevue, WA. J ohn A. Moore '70 is president ofWorldlink, Ltd., a firm specializing in market research. He and Richard Hayes '62 John W. Stanger '69 Austin M. Seay '70 John E. Hamilton '71 THUNDERBIRD XLIX 121 1995 23 UPDATES Committed to Building an International Presence When George Fugelsang first graduated from Thunderbird in 1963, he was recruited by Citibank to help build a local banking presence in Latin America. "In those days, cross-border lending was almost non-existent and only done on a seasonal basis, very short-term in nature," says Fugelsang, who is now chief executive, North America for Dresdner Bank AG. "But because of this early commitment in South America, Citibank managed to accomplish a task 30 years ago that is still difficult even today." That doctrine of commitment to the international arena must have been absorbed by Fugelsang, however. By the time he left South America in 1979, he had become senior vice president and area corporate officer for Peru, Bolivia, Chile, Paraguay, Uruguay, and Argentina. Anned with the success of his experience in South America, Fugelsang was sent to Germany to take over the central, southern, and eastern European region for Citibank. "I think my experience in Latin America was helpful in understanding the pitfalls and difficulties in trying to establish a competitive presence in someone else's market," says Fugeisang. In Germany, the philosophy behind the T'bird experience-that of fostering business relations through greater understanding- eontinued to play an important role. Fugeisang started a program in which young Germans working for mid-sized companies could come to the U.S., visit American companies, and learn more about how they conduct business. 24 THUNDERBIRD XLIX 12 1 1995 "The program improved cultural understanding at a critical period in history," says Fugeisang, "and also provided valuable experience for the young people involved. " After 23 years with Citibank, Fugeisang moved to Morgan Stanley in London as managing director for the Financial Institutions Group for Europe. Eight years and many successes later, he and his experience were lured away by Dresdner Bank Group. Today Fugelsang is based in New York City as part of one of the world's largest banking operations. He is responsible for all Dresdner Bank Group's activities in North America, including Canada, Mexico, and the U.S. "My experience at Thunderbird still serves me today," says Fugelsang. "Major corporations appreciate qualities such as mobility, flexibility and being interested in the world. Everyone likes stability, but it is also important for global "In those days, cross-border lending was almost nonexistent and only done on a seasonal basis." companies to be able to move people around, both to broaden the experience of the people who are moving, and also to resolve problems and take advantage of opportunities. " Fugelsang believes that this level of mobility and adaptability is more likely to be found in a group of students at Thunderbird than elsewhere: "Thunderbird has always been a place to find business people who are committed to building an international presence." Diversity and multicultural experience are also qualities that Fugeisang believes sets T'birds off from the pack. "The diversity of the student body, the different backgrounds and the natural international orientation are still more global and multifaceted than at most schools. The appreciation that the U.S. is not the center of the universe is something that Thunderbird got across to me right away." As much as Fugelsang values those qualities that have been part of the Thunderbird experience since its start, he also believes that Thunderbird has continued to change, along with the world. "Today more languages are offered and more-sophisticated international financial courses taught, " notes Fugeisang. "The School continues to improve. But that's why Thunderbird is still around, isn't it?" -By Jeanene Edwards George Fugelsang '63 his wife, Marsha, live in Milwaukee, WI. Jerome A. Raggett, Jr. '70 is manager of market development in healthcare at Sprint Communications. He and his wife, Eleanor, live in Overland Park, KS. William L. Roberts '70 is general manager of Caribbean operations for Kodak. He lives in Carolina, Puerto Rico. Austin M. Seay '70 manages marine operations in the Asian Pacific as vice-president of Tidewater Inc. He and his wife, Margaret, live in Singapore; their son and daughter live in the U.S. James L. Walter '70 works as executive director of Unity House, Inc. in Honolulu, lll. Phillip E. Casey '71 is chairman and chief executive officer at Florida Steel Corp. a minimill based in Tampa, FL. Anthony B. DaSilva '71 works as international land sales consultant at The Genesis Group. He and his wife, Sharon, live in Orlando, FL. Robert C. Dewolfe '71 is CIS regional manager for TetraLaval Oilfield Moscow. He and his wife, Kathy, live in Houston, TX. Jon B. Dwinell '71 works as audit group manager at Paccar Financial. He and his wife, Mary, live in Redmond, WA John E. Hamilton '71 is marketing director of Crystal Forwarding, Inc. in Carlsbad, CA Robert A. McBride '71 received an award for Academic Excellence from Insurance Institute of America He works as senior premium auditor at Argonaut Insurance Co and lives with his wife, Lydia, and their child in Long Beach, CA Michael J. O'Shaughnessy '71 is the publisher, president and owner of Red Cross Books. He organized the Book Fair in Guadalajara, the largest publications event of its kind in Latin America He also works with the State of New Mexico organizing exhibits featuring the culturallife of New Mexico. He lives with his wife, Marianne, in Santa Fe. Cristobal R. Orozco '71 is U.S. Department of State deputy chief-Qfmission at the American Embassy in the Dominican Republic. He and his wife, Mariela, live in Santo Domingo. Steven Shaw '71 is president at PDR Mortgage. He lives in Sausalito, CA Stewart H. Smith '71 is president of the restaurant Hayden's, LLC. He and his wife, Kathy, live in Tucson, AZ. Roby S. Swan '71 is partner/managing director at CD Warehouse International, Ltd. in London, England. Edward C. Auble '72 owns Edward Auble Associates, an insurance and financial services firm in Paoli, PA He also taught international business at Immaculata College for six years. Chase Ferguson '72 is senior director of American Express Bank, Ltd. He and his wife, Isobel, live in Singapore. William Gambrel '72 is vice-president and general manager of the First National Bank of Boston. He lives with his wife, Dilcia, in San Juan, Puerto Rico. William Hayes '72 is chief executive officer of Placer Dome, Inc., a gold and silver mining company. He lives with his wife, Mariana, in Santiago, Chile. Donald w. Hurst '72 has earned certification as a Chartered Financial Analyst (CFA). He lives in Albuquerque, NM. Lawrence L. Martin '72 is a professor at Columbia University. He and his wife, Lella, live in New York City. Thomas R. McMurry, Jr. '72 works as a controller for Laflse Corp., a Central American financial services company. He and his wife, Maria, live in Miami, FL. Allen F. <>strole '72 is president of Ostrofe Financial Consultants, Inc. He and his wife, Sabine,live in Grass Valley, CA W. Neil Sabin '72 works for AMFAC Resorts as vicepresident of marketing. He and his wife, Michele, live in Flagstaff, AZ. Guenter Walz '72 is managing director at BMW Sverige, AB. He and his wife, Janice McIntyre, live in Solna, Sweden. Robin H. Williams '72 is senior consultant at Lee & Burgess Associates of Colorado, a human resources consultancy. He lives in Conifer, CO. 1973-74 Gary E. Adams '73 works as senior project safety manager at Florida Gas Transmission Co. He and his wife, Peggy, live in Tallahassee, FL. Bernard Anderson '73 is president of Terravest, Inc., a real estate ownership/management firm, in Scottsdale, AZ. Randall Bishop '73 is a partner at Bishop & Bishop, a firm specializing in corporate law and estate planning. He and his wife, Lorraine Abell, have four children and live in Pasadena, CA Christopher T. Morrison '73 is vice-president of business development at Inynco Realty Partners, Inc. He and his wife, Deborah, live in Coral Gables, FL. Michael O'Shea '73 is president of Ameco, a firm specializing in translation and consulting. He and his wife, Minako, recently relocated from Tokyo, and now live in Glendale, AZ. Ronald R. PfafJlln '73 is president of U.S. Agencies International, Inc., a manufacturers' representative for the AsialPacific region. He lives in Saipan. Perry David Smith '73 works as managing director at Sonoco Asia Corp., a paper and plastics packaging firm, in Singapore. John Stevens '73 is vice-president of corporate banking for continental Europe at Bank of Nova Scotia He lives in W. Byfieet, England. Richard T. Taylor '73 manages product development for Serrot Corp., a waterproofing company. He and his wife live in Henderson, WV. Peter R. Wallin '73 is senior vice-president at Socimer Advisory Services Corp., a Swiss Investment Bank. He lives with his wife, Sandy, and their four daughters in Key Biscayne, FL. Daniel F. Benton '74 works at JP Morgan in New York City. Thomas Daly '74 is staff attorney at Inland Counties Legal Services in Indio, CA. Michael P. Duncan '74 supervises purcha& ing for Tengizchevroil, an oil company, in Tengiz, Kazakhstan. David P. Echevarria '74 is an assistant professor of finance at Saint Joseph's University. He and his wife, Voncile, live in Kennett Square, PA. Michael H. McLafferty '74 is international marketing manager at Global Spectrum, an international telecommunications firm. He and his wife, Karen, live in Miami, FL. Alberto Montezuma '74 is president of LEK Industria e Comercio, Ltda., a women's fashion manufacturer. He lives in Rio de Janeiro with his wife, Rosalie. Eric R. Weaver '74 serves at the U.S. Depart-ment of Commerce as a commercial attache. He and his wife, Jane, live in Moscow, Russia 1975 S. Robert August is president of S. Robert August & Co., Inc., a management and marketing consulting firm. He and his wife, Penny, live in Englewood, CO. Dan Bariault is direct business development chairman at The Belhaven Group, Inc., an electronics R&D firm. He lives with his wife, Stephanie, in Seattle, WA Garrett R. Bowden is director at Marcus & Millichap, Inc., a real estate planning firm in New York City. John Chamberlin is private banking regional manager at Bank of America He lives with his wife, Jackie, in Rancho Mirage, CA Roger R. Esser is international sales manager at Marshalltown Trowel Co. He and his wife, LaMae, live in Granger, IN. John S. French is operations vice-president for EMC Express, an electronic media claims network. He lives with his wife, Janie, in Carefree, AZ. Paul G. Knollmaier is dealer development consultant for Latin America at Caterpillar, Inc. He lives in Dunlap, lL. Tom J. Landa is assistant treasur- UPDATES er at Exxon Company, U.S.A He and his wife, Denise, live in Katy, TX. Jeremiah B. Lewis works in sales for my Espresso of the Americas. He lives with his wife, Nancy, in San Francisco, CA Ghassan J. Majdalani is international regional sales manager at Raytheon Appliance Group. He lives in Ripon, WI. Kenneth N. May is vice-president and general manager at Disney Vacation Development, Inc. He and his wife, Mary Besser, are building a new house. David W. Patenge is executive director at Morgan Stanley & Co. International, Ltd. He and his wife, Madeline, live in London, England. Jeffrey A. Seip is direcREUNION '75 NOVEMBER 1995 tor of finance at lscosh, a subsidiary of Westinghouse, in Dammam, Saudi Arabia Dennis L. Stanford is a buyer for Coca-Cola International. He and his wife, Candace, live in Pfaeffikon, Switzerland. 1976 James J. Beirne manages recruitment for General Mills, Inc. in Minneapolis, MN. Bernd Brand is international vice-president at Burlington Air Express, Inc. He and his wife, Erika, live in The Woodlands, TX. Brooks Fields is loan officer at Northwestern Mortgage Co. He lives with his wife, Barbara, in Chandler, AZ. Melanie G. Fleek is knowledge network coordinator at Ernst & Young in San Jose, CA Steve Graybill is regional director for KPMG Peat Marwick. He and his wife, Marla, live in Prague, Czech Republic. Lynnette Guzzino McFaull is director of the volunteer lawyer program for the Northern Kentucky Legal Aid Society. She resides in Edgewood, Kentucky with her husband, Roderick. KIrk D. Haws works for Marubeni Bobcat Sales Company as executive vice-president. He lives with his wife, Irene, in Michael O'Shaughnessy '71, editor-in-chief of Red Crane Books, helped organize what he says is "the largest such event in Latin America, H the Book Fair in Guadalajara, Mexico last Nov. 26-0ec.5. The annual event draws more than 350,000 people during its 10-day duration, and receives notable media attention all over Latin America. Michael worked with the State of New Mexico and the University of Guadalajara in putting together an exhibit that featured the cultural life of New Mexico. Yokohama, Japan. Debra A. Hyman is director of client services at John Ryan Co., a retail marketing consultancy for the banking indU& try. She lives in Madrid, Spain. Leon Maynard is owner of The Leadership Center and lives with his wife, Jolene, in Eagle, ID. Grant P. Miller is vice-president of business development at Baskin-Robbins International. He and his wife, Becky, li
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