Prospectus - Fall 2007

PROSPECTUSC O L L E G E O F B U S I N E S S ■ A L U M N I M A G A Z I N E F A L L 2 0 0 7

IN THIS ISSUE■ C A M PA I G N I O W A S TAT E

■ C O L L E G E A D D S N E W M A J O R

■ H O M E C O M I N G A W A R D E E S

Our PeopleThe Next Priority for the College of Business

Investing in

Dean . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Labh Hira

Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan

Design . . . . . . . . . . . . . . Mauck • Groves Branding and Design

Writers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Eric DieterleMike Ferlazzo

Jeremy GalvinMary Jo Glanville

Charles HandyDan Ryan

Photographers . . . . . . . . . . . . . . . . . . . . . . . . . . .Farshid AssassiBob Elbert

Mary Jo GlanvilleJim Heemstra

Beth Romer

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Colorfx

ContactCollege of BusinessIowa State University2200 Gerdin Business BuildingAmes, Iowa 50011-1350Phone: 515 294-3656E-mail: [email protected]: www.bus.iastate.edu

Prospectus is prepared twice per year by the College of Business at Iowa State University. It is sent without charge to alumni, friends, parents, faculty, and staff of the College of Business. Third-class bulk rate postage paid to Ames, Iowa, and at additional mailing offices.

The views and opinions expressed in this publication do not necessarily represent official statements or policy of Iowa State University but are the personal views and opin-ions of the authors.

Prospectus welcomes correspondence from alumni and friends. Send your comments to Dan Ryan, editor, at the above e-mail or postal address. Prospectus reserves the right to edit all correspondence published for clarity and length.

Iowa State University does not discriminate on the basis of race, color, age, religion, national origin, sexual orientation, gender identity, sex, marital status, disability, or status as a U.S. veteran. Inquiries can be directed to the Director of Equal Opportunity and Diversity, 3210 Beardshear Hall, 515 294-7612.

PROSPECTUSV O L U M E 2 3 N U M B E R 2 ■ F A L L 2 0 0 7

The College of Business at Iowa State University is accred-ited by AACSB International—The Association to Advance collegiate Schools of Business. The AACSB is the premier accrediting agency and service agency and service orga-nization for business schools.

Dean Labh Hira

Briefs

Alumni News

Departments2

2224

Faculty and Staff News

Development

Dr. Charles Handy

283036

Laying the FoundationFirst, the building.

Now, the people.

3

ON THE COVERNEARLY FOUR YEARS

AFTER THE OPENING OF

THE GERDIN BUSINESS

BUILDING, THE COLLEGE OF

BUSINESS IS POISED TO

BUILD ON ITS MOMENTUM

BY MAKING ANOTHER HUGE

INVESTMENT. LEARN ABOUT

CAMPAIGN IOWA STATE AND THE PRIORITIES FOR THE COLLEGE

OF BUSINESS.

Easing the BurdenMaking college easier to afford

for business students.12

Giving BackWhat motivates College

of Business donors?17Our Faculty, Our Future How the College

of Business plans

to attract — and

keep— the

very best.

7

Features

The Power of PeopleME

SS

AG

E F

RO

M T

HE

DE

AN

It is about people, and giving them what they need to help us achieve greatness.

Money isn’t everything. Those words, from the dean of a business college, might sound a bit surprising. Certainly, we are no less in need of it than any other institution of higher learning. And we spend a good portion of our time here teaching, directly or indirectly, about money: how to make it, how to invest it, how to squeeze out more of it from a process or shipping route. So why, in an issue of Prospectus which focuses on a fundraising campaign, would I downplay the importance of money? Because money only takes you so far. Without talent, without passion, without brilliant people who know how to best utilize their resources, all that money is wasted. But if you can find those brilliant people—who have the talent and the passion to be the best in their fields—and give them the things they need to do their jobs effectively, truly amazing things happen.

Industries are advanced through consultation and research. Students’ lives are impacted forever by interaction and mentoring. Small departments grow into large colleges that are respected nationwide because people persistently ask, “why not?” Those people are the focus of this campaign. And they are the reason why I love to share our story with as many of our alumni and friends as I possibly can. I hope you enjoy this issue of Prospectus. And I hope you will contribute to the tremendous progress our college—your college—has made. But most importantly, I hope you understand that this cam-paign is not only about money. It is about people—finding them, keeping them, teaching them, and giving them what they need to help us all achieve greatness.

On June 13, the Board of Regents, State of Iowa, approved our plans for a new Ph.D. program in business and technology in the College of Business. This program, which we hope to implement by fall 2009, will prepare individuals for academic careers in research, teaching, and public service. This is a historic milestone for our college, as it makes us a truly comprehensive business program. Our new Ph.D. program is designed to meet some of the unique demands of the marketplace and address a nationwide shortage of qualified business faculty. I am very excited about this next phase in our college’s continued growth. And I look forward to telling you more about it in months to come. ■

Labh S. Hira, Dean

VOLUME 23 NUMBER 2 ■ FALL 2007 ■ WWW.BUS.IASTATE.EDU2

BEYONDTHE BUILDING,

The Potential for Business at Iowa State

IN A STATE-OF-THE-ART BUILDING, nestled into a campus widely regarded as one of the nation’s most beautiful, resides the college that more Iowa high school graduates choose for their business education than any other.

A college that—just 25 short years ago—was not yet even a college, and dared not dream of the spectacular facility it would one day call home.

Who knew then of the potential this college possessed?

IOWA STATE UNIVERSITY ■ COLLEGE OF BUSINESS ■ PROSPECTUS 3

In many ways, the story of Iowa State University’s College of Business is

a case study straight out of a business textbook. Visionary leadership meets perseverance meets good old-fashioned hard work. Enrollment has grown, as has the size of the faculty. Graduate programs became an integral part of the college’s offerings. The college earned interna-tional accreditation. All of this progress culminated in the most visible symbol of growth to date: the Gerdin Business Building, which opened in 2004. It was a triumph made possible by the generosity of Russell and Ann Gerdin, along with support from additional major donors and thousands of alumni, friends, and corporations. And yet, for all the progress, the work is just beginning. The work, that is, to develop the college into a premier research institution. To make it the long-term home of out-standing faculty. To maintain it as the first choice of high-achieving students, undergraduate and graduate alike. This work must take place at a time when public uni-versities nationwide have generally seen declines in state

funding. At the same time, tuition and other costs steadily increase the financial burden on students. Market forces, meanwhile, sweep top profes-sors toward lucrative positions at other universities or in the private sector. Who are the best people to support the college’s strategic goals? College of Business

alumni. They are, after all, trained to understand the dynamics of finance, human resources, competition, and other factors that can be leveraged to secure Iowa State’s place in the business school ranks. They also know the value of a strong education. Now alumni have an ideal oppor-tunity to see the College of Business ascend to the next level of excellence. The public phase of an extended fund-raising campaign is furthering the poten-tial of a relatively young college that has already developed into a success story. The next step in its ascension will require

resources, just as the new building did. But this step is not about that which can be seen, or touched. The focus now turns to human potential. With the launch of Campaign Iowa State: With Pride and Purpose, a historic $800 million comprehensive fundraising endeavor is under way, aiming to advance Iowa State University’s role in creating a sustainable and prosperous future for people everywhere. The College of Business has set $42 million as its goal, and much of the funding, the college hopes, will be directed to endowments for faculty and scholarships for students. The choice, of course, lies with the donors. “We have the physical resources in place, so we feel lucky and are in a pretty good position,” said Labh Hira, dean of the college. “I think the next challenge for us is to pay attention to the people in this building. The faculty, staff, and

“The next challenge for us is to pay attention to the people in this building. The faculty, staff, and students are who make a program stand out.”

DEAN LABH HIRA

PAT VICKERMAN

CAMPAIGN IOWA STATE: WITH PRIDE AND PURPOSE

For more information, contact: Jeremy Galvin, Director of Development (866) 419-6768 [email protected]

Campaign launch date: July 1, 2003Campaign goal: $800 millionCollege of Business goal: $42 millionAmount raised for College of Business (as of August 31, 2007): $26 millionCampaign end date: December 31, 2010

4 VOLUME 23 NUMBER 2 ■ FALL 2007 ■ WWW.BUS.IASTATE.EDU

LABH HIRA

students are who make a program stand out.” As Hira points out, Iowa State has been fortunate to have quality business students and faculty, but those resources cannot be taken for granted in an environment of growth and competition. “We want to further enhance the role of research in this college and strengthen our commitment to graduate education,” said Hira. Private support plays a crucial role in this process. State funding may keep a university running, but basic operations are only the framework of higher education, and that framework is much the same everywhere. For Iowa State to distinguish itself requires private funding directed to specific people and programs. Pat Vickerman, associate vice president of development at the Iowa State University Foundation and director of Campaign Iowa State, calls that distinction Iowa State’s “margin of excellence.” “That margin is what excites alums to support us,” Vickerman said. “We’ve heard from a number of alums that they feel the university now is as strong as it has ever been. There’s a lot of confidence in the direction of the university.” Alumni often express that confidence through philanthropy, knowing that they have the collective ability to advance the strategic goals of the university or a particular college within it. Matching philanthropy to priorities requires com-munication and awareness. Vickerman points out that the uni-versity and its colleges set funding pri-orities, while the foundation focuses

on being a donor-centered organization that supports the university’s strategic direction. Jeremy Galvin, director of development in the College of Business, reaches out to the college and to donors in an effort to align philanthropic support with the college’s priorities. “I’m involved in weekly, sometimes daily, strategy meetings with the dean and department chairs to understand what their needs are,” Galvin said. He then tries to match the interests and expectations of donors to the priorities of the college. The dynamic is a fluid one, but as Hira notes, it is also full of possibilities. “We discuss with our donors the priorities of the col-lege so they can learn more about our needs,” Hira said.

“Ultimately, we hope to match those needs with the donor’s wishes as much as possible. In the end, it is up to the donor to decide where their philanthropic support will go.” There is a full menu from which to choose. Interdisciplinary work may be new to some areas of academia, but it’s standardprocedure in business. Intertwining and complementary areas of study result in well-prepared students, but present the col-lege with an additional challenge. “It’s very difficult for any college of business to become a quality college without having strength in all functional

This committee will provide leader-

ship to the dean and development

officers during the campaign. Commit-

tee members help identify campaign

priorities and help build momentum

for them. They also help identify orga-

nizations and individuals who may be

interested and capable of making ma-

jor campaign gifts. And they assist in

securing major gifts through a variety

of stewardship opportunities.

Committee Chair:

Kelley Bergstrom ‘65PresidentBergstrom Investment Management, LLC

John DeVries ‘59CEO, RetiredColorfx

James ’67 and Ann ’66 FreinPresident, RetiredHutchinson, Shockley, Erley, & Co.

Craig Petermeier ’80President and CEOJacobson Companies

Bob and Jane ‘85 SturgeonChairman and OwnerSenior Vice President, CFO and TreasurerBarr-Nunn Transportation, Inc.

COLLEGE OF BUSINESS CAMPAIGN DEVELOPMENT COMMITTEE

“Alums feel the university is now as strong as it has ever been. There’s a lot of confidence in the direction of the university.”

PAT VICKERMANDIRECTOR

CAMPAIGN IOWA STATE


JEREMY GALVIN

areas,” Hira said. “We have a very integrated curriculum. As a result, it’s difficult to elevate our stature without elevating all of our disciplines.”

Doing so through fundraising requires a strong alumni base. The college is establishing one, having grown rapidly in the 1990s to its position today as Iowa State’s third-largest college,

awarding one out of every five degrees from Iowa State each year. Yet there is more to the demographic picture. “Fundraising is really no different than any other market,” Hira said. “The amount of money you will be able to raise depends on two things: the number of prospec-tive donors you have, and the capacity of those prospective donors—and the capacity to donate is typically correlated with age.” Can younger alumni still play a role in elevating the College of Business and making Campaign Iowa State a success? Absolutely, according to the ISU Foundation. “Anyone can participate—there’s a place for everyone in this campaign,” Vickerman said. “When we look back at some of our top donors today, they started out making $5 or $10 gifts 30 years ago. It’s all about cultivating a relationship.” Kelley Bergstrom, president of Bergstrom Investment Management, LLC, exemplifies the potential of such relation-ships. The 1965 industrial administration graduate is now a significant philanthropic figure who also contributes his time for the good of the college. Bergstrom, a governor of the Iowa State University Foundation and former chair of the foundation board of directors,

COLLEGE OF BUSINESS BACKGROUND

First business courses offered at Iowa State

Department of Industrial Administration established, enrolls 299 undergraduate students

School of Business Administrationformed, enrolls2,242 under-graduate students

College of Business Administration established

MBA program established, enrolls six graduate students

1920s 1955 1980 1984 1985 2007 2009

College of Business enrolls 3,333 undergraduate students and 294 graduate students

Confers 20% of degrees awarded from Iowa State

Iowa State’s third-largest college

Anticipated launch of Ph.D. program

KELLEY BERGSTROM

“We want to help out with faculty and scholarship support, which we think will greatly enhance the quality and reputation of the college.”

KELLEY BERGSTROM ‘65CHAIR, COLLEGE OF BUSINESS

CAMPAIGN DEVELOPMENT COMMITTEE


and a member of the Dean’s Advisory Council, chairs the fundraising campaign committee for the college. The all-volunteer campaign committee reflects a deep level of personal commitment, rooted in an appreciation for the Iowa State experience, that motivates its members. “I am very grateful for what Iowa State did for me in giving me a start in my business career,” Bergstrom said, noting his ongoing ties to campus and the community. Expressing that gratitude, though, is far more than just an individual exercise. Bergstrom cites his experience with the real estate and private equity business as the context for fundraising at Iowa State. “I’m used to doing things with partners and joint ven-tures,” Bergstrom said. “If I put my money up and get others to match me, then we can do even greater things.” A case in point: the Gerdin Business Building. “We got the job done with the Gerdin building,” Bergstrom said, “and that made the impression on a lot of us that by leveraging private support, we can get things accomplished for the College of Business. “Now we want to help out with faculty and scholarship support, which we think will greatly enhance the quality and reputation of the college.”

Bergstrom treats his philanthropy as investments, acknowledging the tangible and intangible benefits that can accrue from giving. “I look at giving to universities as another asset allocation for my port-folio,” Bergstrom said. “I like to invest where I can see a multiplier effect, and I’m excited about the opportunity to provide the right faculty and give stu-dents additional help.” ■

ENDOWMENTS SUPPORT THE PEOPLE WHO MAKE THE PLACE


Mention Iowa State University and most alumni will immediately imagine the familiar symbols of campus: a mix of historic and modern buildings linked by scenic pathways across expanses of green.

For College of Business alumni, the Gerdin Business Building, in the shadow of the Campanile on the edge of central campus, has become one of those symbols. Yet what happens within that building is what really makes the college special. Ideas and innovations flourish. Knowledge and growth are cultivated. Insightful research expands understanding.

And the world becomes a better place.

At the heart of the college are the faculty, who teach, research, mentor, advise, and lead—daily fulfilling the mission of higher education. Their role is vital, and it is not an easy one to fill. In an ideal world, funding considerations would be the least of their concerns. Yet in the College of Business, faculty face the distinct challenge of carrying a full

teaching load while trying to conduct groundbreaking research. They also strive to provide funding and research opportunities for students. And they experience the same market dynamic that affects any talented employee: the opportunity to advance, which may include moving to another employer. Addressing all of these factors within a state-funded

freedom to SUCCEEDfreedom to SUCCEED

Michael Crum John and Ruth DeVries Endowed Chair in Business At Iowa State since 1980

opment in the College of Business. And just like cor-porate America, Galvin said, there is competition among schools and private industry for the best people available. The loss of a key professor can have far-reaching effects. “A student told me about a marvelous marketing professor she had, but the professor left for another school,” Galvin said, “and that set the student back. We’re working to make sure our alumni realize the impact that our faculty are having on students.” The professor left, as it turns out, because the com-peting university offered an endowed faculty position—an offer the College of Business could not match. The epi-sode demonstrates how other institutions are using endow-ments, and it stresses the importance of increasing the

number of endowed positions at Iowa State. Also important is the role faculty play in enhancing the reputation of the College of Business. Through their research, new ideas are adopted in the business world. When research find-ings are published, cited, and otherwise featured in the public eye, the college also receives recognition. That’s why top researchers command top salaries and the competition for them is so intense. It’s an ongoing challenge for any dean, and Hira knows that private sup-port is an effective way to find and keep the best. “Endowments are going to play a role in helping us attract those researchers doing cutting-edge research,” Hira said. ■

by allowing faculty to deploy an array of teaching and research strategies, all to the benefit of students and the college. Endowments are also valued symbols of prestige and accomplishment. “Just like a person in cor-porate America going for that year-end bonus as a sign of achievement in their field, professors strive for endowed positions,” said Jeremy Galvin, director of devel-

budget can be daunting, but College of Business Dean Labh Hira recognizes that faculty are his most impor-tant resource. He has estab-lished faculty development, especially through retention and recruitment, as a top pri-ority in Campaign Iowa State. “Experienced donors understand the importance of people,” Hira said. “Our alumni in the business world understand the impor-tance of having top players on their team.” Endowments made pos-sible by donors are powerful tools for faculty recruitment and retention, yet they are not always as visible or well-understood as more tradi-tional fund-raising targets, such as new buildings and equipment. Endowments are not merely salary supple-ments. Instead, they initiate a cause-and-effect dynamic

“Our alumni in the business world understand the importance of having top players on their team.”

DEAN LABH HIRA

As an associate dean and the beneficiary of an endowed

chair position, Michael Crum knows firsthand about the

benefits such a position can bring to faculty, including the

freedom to conduct research, support students, purchase

data, and travel to conferences.

“Endowments allow our faculty to create more value,”

Crum said. “They free up our time to do the big-impact

things. The bottom line for me is that I can be a better

faculty member by being a better educator and a better

researcher. The endowment helps me to touch more lives.”

In turn, students experience the benefits of quality

instruction and more numerous research opportunities.

“The students understand clearly the importance of fac-

ulty to a university and to their education,” Crum said. “But

IOWA STATE UNIVERSITY ■ COLLEGE OF BUSINESS ■ PROSPECTUS 98 VOLUME 23 NUMBER 2 ■ FALL 2007 ■ WWW.BUS.IASTATE.EDU

Michael Crum John and Ruth DeVries Endowed Chair in Business At Iowa State since 1980

I don’t think that most of them would think about the

need for private funds to be invested in faculty.”

As state funding for universities gradually declines, as it

has been across the nation, the investment of those private

funds becomes even more crucial.

“We always have faculty who are approached by other

universities,” Crum said. “That’s a good sign because it

means we have good faculty. But a lot of other schools use

endowments to lure faculty away, so we need endowments

to retain them.”

Beyond the financial benefits, though, is another

important quality: prestige.

“I think that gets overlooked,” Crum said. “Being selected

by your college to receive one of these endowments is

a huge accolade for a faculty member. It really says ‘I’m

highly respected, I’m valued, and my work is valued.’ That’s

extremely important.”

Educating donors about the importance of named

positions has become a priority for many universities.

Those efforts are paying dividends: named positions are

becoming more prevalent as donors realize the impact

they have on faculty.

“Endowments have a long-lasting impact, and it’s a

significant impact,” Crum said. “And there is visibility that

goes far beyond a name on a placard. When I publish a

paper, I put my title on it, and colleagues always ask about

the title and the people named in it. As I look out in my field,

I see more and more named positions.”

For many recipients of endowments, there is far more

to the story than simply an infusion of funds. A personal

connection is also established. Just ask Paula Morrow,

University Professor of management.

“The professorship that I hold is a really special one

because it is named after one of our former faculty mem-

bers,” Morrow said of Max Wortman, a beloved professor

who passed away unexpectedly in 2005, hours after teach-

ing a course on negotiation and conflict resolution. “He

truly was a well-respected, well-known figure in his field.”

Wortman also had many “academic grandchildren”—

doctoral students who became professors themselves. The

endowment resulted from the desire of Wortman’s family

to memorialize his role in the college and in shaping the

lives of students.

“Max was also very active in promoting the professional

advancement of women,” Morrow said, “so this position

is especially meaningful to me. I think Max would be very

pleased to see that a woman was the first recipient.”

Morrow puts the endowment to work by advancing her

research, with benefits accruing to students and the college.

“What the endowment really does is allow me to focus

on maintaining my research productivity,” she said. “Time

is a limited commodity for faculty. This allows me to

focus my energy on long-term projects and take on some

additional graduate students.”

The alternative, Morrow points out, can be explained

by opportunity cost: without the endowment, her attention

would be diverted to taking on summer classes or finding

consulting projects.

“Quality, cutting-edge research requires big blocks of

time, which are hard to come by during the school year,”

she said.

But with summers free, that time is available, and

Morrow has put it to good use. She consistently publishes

research results and was recently named the college’s

winner of the 2007 Senior Faculty Research Award.

Morrow also devotes time to mentoring students in

research. Several of her publications also bear the names

of students, and some of those students have gone

on to earn Ph.D.s, thus perpetuating the spirit of Max

Wortman’s legacy.

Paula Morrow Max S. Wortman, Jr. Professorship At Iowa State since 1978


Expendable gifts are outright gifts or pledges that are given by the donor

with the intention that the gifts will be used immediately for the desig-nated purpose. This type of gift is placed into an account which does not earn interest. Therefore, when the money in the account is fully dispersed to its designated purpose and the donor has completed his or her pledge, the gift is complete.

1 2

DEFINITION FUNDING REQUIREDa

ENDOWED EXPENDABLEb

A deanship is one of the most visible

and influential positions at Iowa State.

It provides the dean with additional

funds to launch his or her vision for the

college. It also allows for supplemental

recruitment and retention packages to

assemble a strong faculty team.

Dean’s Chair $3,000,000 $150,000

Faculty who perform at the highest

level are heavily recruited by other

institutions and private industry.

Faculty chairs are the most esteemed

positions in academia and allow the

college to supplement and enhance

faculty compensation packages.

Faculty Chair $75,000$1,500,000

Professorships are highly regarded

positions that recognize outstanding

faculty. Similar to faculty chairs, pro-

fessorships supplement and enhance

faculty compensation packages.

Professorship $500,000 $25,000

Fellowships are often awarded to

young faculty members Iowa State

hopes to retain. Through a fellowship,

faculty flourish and their professional

loyalty to Iowa State is nourished by

providing them with enhanced com-

pensation packages or professional

development opportunities through the

named faculty position.

Faculty Fellowship

$300,000 $15,000

a. All gifts received by the ISU Foundation are assessed a gift fee of five percent,

which recovers the costs associated with fundraising at Iowa State University.

b. These figures represent annual minimums for expendable named faculty

positions, which require a commitment of three to five years.

With appointments in

finance and economics,

Dermot Hayes takes a truly

businesslike approach to the

funding that comes to him

through a corporate gift.

He solves problems. He

increases productivity. He

believes in the market.

“The chair has allowed me

to stay in Ames rather than

search for a similar position

at another university,” Hayes said. “I don’t have to

move my family to find the best opportunity because

that opportunity is here.”

The chair has also created research opportunities and

access to people and data in the seed industry. Hayes

credits Pioneer Hi-Bred International, Inc., with opening its

doors when he seeks an agribusiness insight.

“I’ve been able to publish about six papers that would

have been impossible without that,” he said.

Certainly the College of Business benefits from

Hayes’ high-profile publishing on seed company profits

and sales, but graduate students have experienced

even more direct benefits from his use of funding as a

problem-solving tool.

As Hayes points out, there’s often a disconnect in

the university environment in terms of support for

graduate students.

“You see these great students who are broke,” he

said, “and you see grant-related funding opportunities for

these students a year after you’ve met them. There’s a real

crunch for people like me who try to resolve that problem.

The students can’t wait three months for a grant proposal

to get funded.”

Hayes makes sure they don’t. He uses endowment

funding to create short-term opportunities for students

until long-term funding can be identified. “I’ve had five or

six students who have gone through that,” he said, “and in

every case it worked out well.”

One example is a graduate student in accounting who

worked for Hayes on a summer research project that

was directly related to the student’s thesis. “Had I not

been able to fund her,” he said, “she would have had to

get a summer job, and she wouldn’t have been able to

work on her thesis.”

RECOGNITION

Dermot HayesPioneer Hi-Bred International Agribusiness Chair At Iowa State since 1986

Endowment gifts are established to benefit the intended purpose in perpe-

tuity. The ISU Foundation invests private resources and provides a portion of the annual investment return for the intended purpose set forth by the donor. The remain-ing investment return is added to the principal for growth and protection against inflation. The portion of the investment return provided for the intended purpose (i.e. faculty endowment) is cur-rently 4.25 percent of the balance in the endowed account.

There are two types of funding available to naming a faculty position in the College of Business:

Naming a Faculty Position


COLLEGE OF BUSINESS FACULTY CHAIRS, PROFESSORSHIPS, AND FELLOWSHIPS

Accenture Faculty Fellowship

Bob and Kay Smith Entrepreneurship Fellowship

Dean’s Faculty Fellowship in Management Information Systems

Dean’s Faculty Fellowship in Marketing

Dean’s Professorship in Finance

Dean’s Professorship in Finance

Eucher Faculty Fellowship in Business

Heggen Faculty Fellowship



Iowa Bankers Association Fellowship

Jacobson Companies Faculty Fellowship

Jacobson Companies Fellowship

John and Ruth DeVries Endowed Chair in Business

Mark and Pam Fisher Faculty Fellowship in Business

Max S. Wortman, Jr. Professorship

Pioneer Hi-Bred International Agribusiness Endowment Chair

Principal Financial Group Fellowship in Finance

Roger P. Murphy Professorship in Accounting

Union Pacific Professorship for Information Systems

Union Pacific/Charles B. Handy Professorship

Wells Fargo Professorship in Finance

William and Elizabeth Goodwin Fellowship

William and Elizabeth Goodwin Fellowship

Anthony Townsend, associate professor of MIS

Howard Van Auken, professor of management

Dan Zhu, associate professor of MIS

Stephen Kim, associate professor of marketing

Richard Carter, professor of finance

Frederick Dark, associate professor of finance

C. Bradley Shrader, University Professor of management

Russell Laczniak, professor of marketing

Sridhar Ramaswami, professor of marketing

Roy Teas, Distinguished Professor of marketing

Roger Stover, professor of finance

Richard Poist, chair, department of logstics, operations, and MIS; professor of logistics and supply chain management

Yoshinori Suzuki, associate professor of logistics and supply chain management

Michael Crum, associate dean and professor of logistics and supply chain management

Marvin Bouillon, chair, departments of accounting and finance; associate professor of accounting

Paula Morrow, University Professor of management

Dermot Hayes, professor of finance and economics

Mark Power, University Professor of finance

Sue Ravenscroft, professor of accounting

G. Premkumar, professor of MIS

William Dilla, associate professor of accounting

Arnold Cowan, professor of finance

James McElroy, University Professor of management

James Werbel, professor of management

NAMED POSITION FACULTY HOLDER

Endowments give options to

faculty, and professor of accounting

Sue Ravenscroft has chosen one

that addresses a perceived need in

the college.

Ravenscroft allocates funds to

support her conviction that a com-

munications center would be an

asset to the College of Business.

“Accountants in corporations

spend a lot of time talking to non-accountants, so commu-

nicating clearly is crucial,” Ravenscroft said. “It’s tempting

as a professor to worry just about the technical material,

but I think people understand the technical better if they

know it well enough to communicate it clearly. To com-

municate clearly, you have to think clearly.”

Ravenscroft traces her passion for a communication

center to a serendipitous moment. As the beneficiary of

a Miller Faculty Fellowship, she had been working with

a Ph.D. student on developing communication skills for

a governmental nonprofit accounting course. The idea of

expanding that approach collegewide arose at about the

same time that the Murphy professorship was awarded.

“The publicity attached to that was a springboard that

allowed me to talk about the communications center,”

Ravenscroft said. As a result, the idea has gained sup-

port, and today two graduate students are developing

writing assignments and presentations that can be used

by business faculty.

The center itself is still just a concept, but Ravenscroft

encourages potential donors to consider an endowment as

a way to express personal interests. After all, she notes, the

Murphy professorship is based on the support of under-

graduate education, so that’s where she focuses her energy.

By advocating for a communications center, “I’m just

narrowing that down a bit,” Ravenscroft said.

“You can promote whatever you believe in by giving an

endowed professorship.”

Sue Ravenscroft Roger P. Murphy Professorship in Accounting At Iowa State since 1998


LAUNCHING TOMOR ROW ’S

LEADERSan additional $7.5 million for ongoing student scholarship support as part of its $42 million campaign goal. Depending on available funds, the college awards scholarships ranging from $300 to $5,000 to approximately 140 students each year. Here are the stories of four beneficiaries.

70 percent of Iowa State gradu-ates are leaving Ames with loan balances creeping ever-closer to $30,000 each.

The College of Business is com-mitted to changing that, which is why student scholarship support has been identified as one of its key priorities in Campaign Iowa State. The college seeks to raise


SCHOLARSHIPS CREATE STUDENTS WHO FLOURISH

Scholarships play an important role in helping today’s students make the most of their college years. For some, a scholarship means the opportunity to study abroad; for others, it reduces the number of hours a student has to work at a job, thus freeing up time for study or participation in club activities.

But make no mistake: scholarships are no longer a luxury. The same cutbacks that have pinched budgets throughout Iowa State University have also forced steep tuition hikes.

In the last 10 academic years, resident tuition is up 101 per-cent and nonresident tuition

is up 80 percent. For the last two years, Iowa State University has ranked second in the nation among public institutions in highest debt loads among its graduates, according to data from U.S.News & World Report. Nearly

“With the scholarship support and loans, I have not had to get a job. That has allowed me to participate in activities that have enriched my college experience.”

MICHAEL HOTZ

Michael Hotz SeniorAgricultural Business, Finance, and Economics

Michael Hotz and Iowa State seem like a natural match. A 2004 grad-uate of Lone Tree Community High School, Hotz grew up on an Iowa farm and knew he wanted to study agriculture and business—and his dad was an Iowa State alum. But when Hotz was deciding what college to attend, he consid-ered many schools before choosing Iowa State. “I wanted to make sure this was the right choice for me,” says the senior in agricultural busi-ness, finance, and economics. “The program and the atmosphere drew me here.” Hotz has been able to participate in a wide variety of activities thanks to university and college scholar-ships. The College of Business awarded him the Swift Company Scholarship his junior and senior years and also a scholarship to sup-port a study-abroad semester. “Over half of my tuition costs have been covered by scholar-ships,” says Hotz, who is paying for his own education. “I am conserva-tive when it comes to money, but with the scholarship support and loans, I have not had to get a job. That has helped me study better and allowed me to participate in activities that have enriched my college experience.” He has served on the College of Business Student Council and Ag

Career Day Committee, and he is a member of the entrepreneur and finance clubs. His involvement has led to personal and professional growth as well as a strong network of friends and contacts. Studying abroad tops Hotz’s list of activities that have enhanced his education. He spent spring 2006 studying at Swansea University in Wales. While in Europe, he trav-eled to France, Germany, Ireland, the Netherlands, Norway, Scotland, and Switzerland, immersing himself in the local cultures. “My friends teased me because I was always striking up conversations with strangers,” he says. “I wanted to learn from them so I asked lots of questions. It was truly a world-broadening experience.” Hotz has been equally inquisi-tive in his internship searches. He has used his interviews to gather information about agriculture-related industries and the job opportunities in them. This dis-

covery process has led him to two very different internships. Zen-Noh Grain Corporation, a Japanese grain export business in Louisiana, hired him as a merchan-dising intern in summer 2006. It is the smallest of the five U.S. export grain companies, according to Hotz. “My exposure to business opera-tions was unbelievable,” he says. “I got to talk to the upper-level man-agers. They are visionaries, focused on the future, not just the day-to-day business. They wanted me to see how things worked.” This past summer, Hotz interned as a financial analyst with the Renewable Energy Group in Ralston, Iowa. “I loved the grain merchandising work last year,” he says, “but with all of the emphasis today on alternative fuels, it is a very exciting time to work for a biodiesel company.” Hotz’s top priority now is to find the right company and the right job for when he graduates next May.


making the College of Business pos-sible for students,” she explains. “A lot of students don’t know any-thing about our donors. I hope to increase awareness among students, faculty, and staff about our donors and their importance to the College of Business and our education.” She will continue this internship through the fall semester. Schmidt’s development work is just one portion of her activities. As vice president of the Business Council, which oversees all of the college clubs, she helps organize special activities for VEISHEA, homecoming, family weekend, and other events throughout the year. For her freshman Honors project, Schmidt worked with mentor Darin Wohlgemuth in the Iowa State Admissions Office and surveyed freshmen to determine how a student’s high school and family background affected their

college search process. Now for her senior project, Schmidt will add another dimension—senior GPA—to the original research to determine how background affects a student’s success in college. While Schmidt has had a range of experiences on campus, intern-

Brittney Schmidt SeniorMarketing, Journalism, Philosophy

Becoming a legacy student at ISU was nearly a distant memory when Minnesota State University offered Brittney Schmidt their Presidential Scholarship. A full-ride scholar-ship would significantly reduce the financial strain for Schmidt, who was committed to splitting the cost of her college education with her parents. Fortunately the Garner, Iowa, native did not give up. “I was already familiar with campus because I had visited here countless times for camps, 4-H activities, and Girls’ State,” Schmidt says, “but finding out about the programs and opportunities in the College of Business solidified my desire to come here. Plus, we have a family tradition; nine relatives, including my dad and sister, are all alumni.” Schmidt explained her quan-dary to Ann Coppernoll, director

“I hope to increase awareness about our donors and their importance to the College of Business and our education.”

BRITTNEY SCHMIDT

of undergraduate programs for the College of Business, who suggested she fill out the undergraduate scholarship application. The college then awarded Schmidt the Mark and Julie Blake Undergraduate Business Scholarship. While the Blake scholarship, combined with a variety of other scholarships, has covered Schmidt’s tuition costs, the senior marketing major benefited in other ways too. “Developing a personal relationship with the Blakes got me interested in working with donors and seeing how the development process works,” says Schmidt, one of 25 stu-dent volunteers with the Iowa State University Foundation. “We help host alumni and donors at tailgates and football games, building dedica-tions, and campus activities; we also help with the two black-tie events of the year, Order of the Knoll and the Distinguished Awards Ceremony.”

This past year, Schmidt interned in the dean’s office of the College of Business, working to support the college’s development efforts. Her main project was to revise how donors are acknowledged, but she has another goal. “I have been able to see all of the effort that goes into


“I don’t want my loan payments to mean I have to continue to live like a student once I am out of college.”

KATIE LORBER

ships have given her exposure to marketing practices in two very dif-ferent industries. In summer 2006, she interned at Caterpillar in Peoria, Illinois, where she did marketing for the North American Commercial Division. This past summer, Schmidt interned in the Communications Department at Lands’ End head-quarters in Dodgeville, Wisconsin, where she gained experience in event planning, graphic design, and adver-tising, as well as learning how the company sells merchandise through four unique marketing channels. Before graduating in May 2008, Schmidt will add one final item to her list of experiences. She plans to study in Ireland next spring as part of the Regents’ Study Abroad Program. This unique opportunity is financially feasible due to the schol-arships she received during her first three years at Iowa State.

Katie LorberJunior Marketing

When Katie Lorber enrolled at Iowa State in fall 2005, it repre-sented a big change in her life. She grew up in New London, Iowa, a town of less than 2,000 residents, about half the number of freshmen entering Iowa State each year. Knowing she wanted to major in marketing, Lorber visited Iowa State to check out the College of Business. “I fell in love with the campus,” she says. “Iowa State is a big school with lots of opportuni-ties, but it has a small-town feel and that is what I liked.”

Now a junior, Lorber is paying half of her college expenses herself with scholarships, loans, and the income she receives from a job with Clem Insurance Company in Ames. While she received scholar-ships from a variety of sources her first year, most were nonrenew-able. For 2007–2008, she received a College of Business marketing scholarship. “I was really excited to receive the scholarship,” she says. “It reduces the amount of loans I have to get. I am working hard to keep my debt as low as possible. I don’t want my loan payments to mean I have to continue to live like a student once I am out of college.” Although her classes and her job keep her busy, Lorber is involved in a range of other activities that are helping her develop skills applicable to a marketing career. For example, she has been an ambassador to the career fair spon-sored by the Colleges of Business and Liberal Arts and Sciences,

interacting with company repre-sentatives to ensure the fair goes smoothly; a Destination Iowa State team leader, helping new students get acclimated to campus prior to the start of classes; and a Business Council peer adviser, assisting stu-dents in the registration process. This fall, Lorber began a new assignment as a member of the Cyclone Alley central committee. Cyclone Alley is a student spirit group for Iowa State men’s and women’s basketball. “We promote participation and attendance at games through our Web site and e-mail,” says Lorber. “It is primarily for basketball, but we promote attendance at one event for each of the other varsity sports too. We also organize road trips and other special activities.” Lorber’s involvement with these different groups has introduced her to other opportunities as well. Several of her friends from Business Council studied in Spain this past


the couple’s three-year-old son, Joshua, in Ames. To help support his family, Odoom works 20 hours a week for the Department of Public Safety on campus. He writes parking tickets, a job that can be stressful.

“I can feel the love in the air,” he laughs. “One girl asked if I get paid on commission. I don’t.” Odoom is also interim pastor at the Assembly of God Church in Oelwein. “I have been preaching since I was in high school,” Odoom says. “It helps me keep my ethics and morality straight.” Even with his full schedule, Odoom makes time to help his classmates. As president of the finance club last year, he arranged for the proceeds from the invest-ment challenge competition to

summer, and she hopes to study there next summer. “They said it is an amazing experience,” she says. “The business world is so global-ized, I think it is really important to immerse myself in another culture and see how other people live.”

Kofi Odoom Graduate StudentAccounting

When Kofi Odoom talks about balancing school, family, and work, a spreadsheet might prove a useful tool. One wonders how he manages to find time for the many priorities in his life. A native of Ghana, West Africa, Odoom came to Iowa in 1997 to attend Luther College. He earned a B.A. in management and then accepted a job with GEICO Insurance in Coralville. With a long-term goal of returning to Ghana as an entrepreneur who starts and sells companies, Odoom decided to study finance so he could work with risk adjustment and forecast. He moved his family to Ames and enrolled at Iowa State in fall 2005. Odoom, who is 30, completed coursework for his B.S. in finance and is now working on a master’s in accounting. While he has always made balancing family and school a priority, Odoom has taken on new parenting responsi-bilities this fall. His wife is living in New York where she is a first-year dental student at Columbia University, and Odoom cares for

“My goal was to take the club to a new level. Being involved will help students be successful.”

KOFI ODOOM

be used as scholarships to the University Book Store. This year, he is working with GEICO, his former employer, to set up an accounting scholarship. Odoom says he is driven by the desire to make a difference. “Nationally, Iowa State student debt ranks quite high,” he explains. “I want to help students deal with college finances.” In addition though, he is intent on honing his leadership skills. “My goal was to take the club to a new level,” he explains. “The scholarships are one way that has happened, but we also got more students involved, increasing the membership from around 40 to more than 80. Being involved will help students be successful.” For his own expenses, schol-arships from the Iowa State International Students and Scholars Office and the College of Business have covered about two-thirds of Odoom’s tuition. Student loans and work help pay the rest. When he completes his master’s next spring, Odoom wants to work in the portfolio management investment division of AEGON, a worldwide life insurance and pension company. Because of his international status, Odoom needs an employer who will do the paperwork that will allow him to stay in the United States a few more years. He interned with AEGON in Cedar Rapids last fall, and says the company is inter-ested in hiring him. ■


Stories All Their Own

Why Business Alums Support Their College

The list reads like a who’s who of business:

John DeVries, retired owner and CEO, Colorfx,

Inc.; Ralph Eucher, president, Principal

Funds, the Principal Financial Group; Mark

Fisher, president, United Community Bank in

Milford; Cara Heiden, division president, Wells

Fargo Home Mortgage; Julie Middleswart,

audit partner, Ernst and Young; and Ruby

Trice, business executive, National Geospatial-

Intelligence Agency.

Yet all of these individuals have a common

interest—helping Iowa State University’s

College of Business be the best college it can be.

All are Iowa State alumni, but beyond that

shared experience, their stories about giving

back to the college are as unique as the indi-

viduals themselves.

John DeVries has the longest history with the college. He earned his industrial admin-istration degree in 1959. His first job was in Cedar Rapids, but after working on his MBA at the University of Iowa, he moved to Des Moines. The proximity to Ames made the decision to help his under-graduate alma mater an easy one. His involvement began in the early 1970s when Chuck Handy, head of industrial administration, began hosting

receptions to gather support for the rapidly growing department. Owner and CEO of Colorfx from 1979 until August 2007, DeVries has been a strong advocate and leader for the department and the college since those first meetings. He has done everything from calling on businesses to ask for support, to helping establish the Founders’ Club and serving as its chair, to serving on the Dean’s Advisory Council, to leading development campaigns.

“We believe education changes lives. Not just individuals, but entire families and society.”

John DeVries


One of the early highlights for DeVries occurred in 1984, the year the college was offi-cially established. “Pioneer Hi-Bred International donated the funds for our first endowed chair,” he recalls. “It was proof of the support and credibility we had achieved.” DeVries’ motivation for staying so involved during the last 30 years has come from the continuous progress he has witnessed. He credits this suc-

cess to Handy’s vision—always be better next year than you were last year. “I have worked with all of the deans—Handy, David Schrock, Ben Allen, and now Labh Hira—and each one has wrapped his arms around this vision and kept it alive,” he says. In support of that vision, DeVries and his wife, Ruth, established the DeVries Endowed Chair in Business in 2000 to honor and recognize an administrator or faculty member who has demonstrated exemplary service to the college. “We believe education changes lives,” he says, “not just indi-

viduals, but entire families and society. We established this chair to support faculty. Strong faculty are the basis for building outstanding programs that attract outstanding students.” DeVries’ commitment to education is reflected in his service to the university as well. He has served as an Iowa State University Foundation Governor since 1984 and was chair of the Foundation Board of Directors from 1993 to 1995.

Ralph Eucher began his association with the College of Business when Principal Financial Group agreed to sponsor a welcome event and diversity training session for new MBA students each year. It was his first con-tact with Iowa State’s business program since earning his M.S. in industrial relations in 1976, but it has led to ongoing inter-action, and his leadership is helping increase the focus on business ethics for students. Eucher’s interest reflects a diverse career that began with a job at 3M while he was an Iowa State undergraduate majoring

in political science. His studies and work experiences inspired his interest in human resources and labor relations, which led to his master’s studies. He went on to earn a law degree at the University of Iowa. After five years as a real estate and corporate lawyer in Muscatine, Eucher moved to Des Moines in 1984 to join General Growth Properties, a shopping mall real estate invest-ment firm, as in-house counsel. He later became president and led the company through a major expansion and relocation to Minneapolis. In 1994, Eucher returned to Des Moines to join the asset management arm of Principal Financial Group. He was named president and CEO of Principal Funds in 1999. With his interest in ethics, Eucher has been working with Brad Schrader, University Professor of management, who teaches corporate ethics and governance. Shrader is

also the first recipient of the Ralph and Jean Eucher Faculty Fellowship in Business, cre-ated by Eucher and his wife to help raise the profile of ethics in the curriculum. “You don’t have to look any further than Enron or WorldCom, to know that ethics is a real issue today,” Eucher says. “An employee may be asked to do something that doesn’t add up. We want stu-dents to develop the framework and the confidence so that when faced with an issue they keep asking questions until it does make sense, even if that means taking the issue to an audit committee.” The new fellowship may sup-port such things as a special lecture series or graduate research on ethics. “Our hope is it will enhance the opportu-nities for students throughout the college to learn about ethics and think about how business ethics will come to play in their careers,” Eucher adds.

“Our hope is it will enhance the opportunities for students throughout the college.”

Ralph Eucher


Living College of Business alumni

Living College of Business alumni in Iowa

Living College of Business alumni in states bordering Iowa

Average age of College of Business alumni

Average age of College of Business donor

College of Business alumni who made a gift to Iowa State in 2006-2007

College of Business alumni who made a gift to the College of Business in 2006-2007

Average gift to the College of Business

Median gift to the College of Business

Total fundraising production during 2006-2007

COLLEGE OF BUSINESS ALUMNI GIVING STATISTICS

25,675

11,797 (46%)

5,738 (22%)

41

51

3,239 (13%)

1,148 (4.5%)

$1,001

$100

$12,434,104

to long-term success,” says Fisher, who is president of United Community Bank in Milford. “I attribute my accomplishments to my educa-tion at Iowa State, and hearing Adam speak highly of his pro-fessors and the excellent edu-cation he received encouraged us to support the faculty.” Both Mark and Pamela Fisher have served terms on their local school board. Their experiences gave them insight on educational funding issues and recognition that the uni-versities need substantial pri-vate support. “We want the College of Business to continue building on its outstanding reputation,” Fisher says. “As an alum, you feel good about your school when it has a great reputation. Our hope is that our support will help the college continue to attract and retain top pro-fessors so it can continue to be an outstanding school.”

When Cara Heiden is passionate about something, she contributes financially and she gets involved in leader-

A 1976 industrial administration graduate with emphasis in accounting, Mark Fisher began his career with the accounting firm Wolf and Company in Des Moines. Fisher has supported the Iowa State College of Business and the athletic department for the past 30 years while residing in the Iowa Great Lakes area. Although his wife, Pamela, earned her accounting degree at the University of Wyoming, she shares Fisher’s loyalty. In addition, both of their sons are College of Business alumni. Paul is a 2005 management information systems graduate and is now attending chiro-practic school in Chicago, and Adam, a 2007 graduate with degrees in accounting and management information systems, works for Ernst and Young in Des Moines. While the Fishers have been steady contributors to the College of Business, they recently created the Mark and Pamela Fisher Fellowship to support a professor in the accounting department. “Education is the key

ship so she can see the cause advanced. The Iowa State University College of Business is one of her causes. A 1978 industrial adminis-tration graduate with options in accounting and finance, Heiden says her education has been key to her success. The division president for Wells Fargo Home Mortgage, Heiden made an unrestricted donation toward the Roger P. Murphy Professorship in Accounting. Her financial support for the college is continually directed to retaining and recruiting the very best professors. “The impact that a pro-fessor can have on your life is nothing short of profound,” Heiden says. “My professors took a personal interest in me and helped me achieve my goals. Along with encouraging my intellectual curiosity, they made certain I had options and access to many different professional opportunities.” Heiden’s leadership role with the college extends back to the mid-1990s when Dean Ben Allen asked her to serve on the advisory council. “The

College of Business was young and growing, and it was an exciting opportunity to help craft the future,” she says. “As alumni and employers, we want to help ensure that Iowa State produces the highest quality of graduates,” Heiden says. “We provided input on planning for the new building, using our experience as students—even though for some of us that was a long time ago—and from what hap-pens in the day-to-day corpo-rate world to create the most effective learning environment. “We also give feedback on what competencies we look for in recruits. I am proud to say,” she adds, “that Wells Fargo is the number one hiring corpo-ration for Iowa State College of Business graduates.” Heiden has been active with the Iowa State University Foundation and served as chair of the Board of Directors for 2005–2007. In this role, the focus has been to advance the mission of Iowa State through fundraising.

“As an alum, you feel good about your school when it has a great reputation.”

Mark Fisher

“As alumni and employers, we want to help ensure that Iowa State produces the highest quality of graduates.”

Cara Heiden


Ruby Trice, a 1987 grad-uate in management, gives back to the college in three ways. She contributes to scholarships, serves as an Iowa State ambas-sador, and is an alumni associa-tion board member. The youngest of seven chil-dren, Trice grew up in St. Louis, Missouri. “We weren’t in the best situation financially,” she says, “and I give back because I know there are other kids like me who want a chance to make a difference. Iowa State gave me my chance.” Trice received need-based aid to sup-port her education. Trice, who began working for the Department of Defense (DoD) in a fellowship program in 1983, is now a business executive with the National Geospatial-Intelligence Agency, a DoD support agency. She became an Iowa State ambassador in 1992 and has recruited students both in St. Louis and in Maryland where she lived for eight years. In this role, she attends education fairs sharing her experiences as a minority student from a big city who went to Iowa State.

“I formed some really strong bonds with people I met at Iowa State—black and white, Iowans and non Iowans, rural and urban,” she says. “I tell prospective students that col-lege gives you the opportunity to make friends with people who aren’t like you. It will help you embrace all of the different people you will encounter in the workplace.” As an alumni association board member, Trice attends regular meetings in Ames. It is an opportunity to network and provide input, and it also allows her husband and two children to visit campus. “My daughter is quite excited to know that George Washington Carver went to the same school I did,” Trice says. “I just emphasize we were not here at the same time.”

Julie Middleswart, of Indianola, also makes regular trips to Ames. A 1991 accounting graduate, she serves on the advisory board for the accounting department and is an advisor for her sorority, Kappa Alpha Theta.

Middleswart, an audit partner with Ernst and Young in Des Moines, says the motivation for being involved with the col-lege is helping it to get better. “As successful professionals coming in, we provide a sounding board,” Middleswart says. “And, we use our indi-vidual experiences in industry to provide a perspective that helps the department come up with new approaches to addressing challenges and moving forward.” Serving on the board also has rewards. It helps Middleswart stay in touch with what is happening in the col-lege today. “Last spring we had a professor come and talk about Second Life. It is a virtual envi-ronment he uses to teach class. I had no idea it even existed,” she says. “Also, I have gotten to know many people from industry and the college. Helping the col-lege is a way to be connected beyond my work environment.” Middleswart has also gained new insight regarding college funding issues and the need

to raise money for faculty and scholarship support. While she contributes regularly to the college, she is organizing an effort to reach out to Iowa State alumni, working at Ernst and Young offices around the world, to establish a scholarship fund. Her work with the sorority has made Middleswart espe-cially conscious of the struggles for students. “When I was in school, it seemed people got jobs because they wanted a little extra spending money,” she explains. “These girls are working so hard at jobs, keeping their grades up, and staying involved. I really admire all that they are doing.” Middleswart has a busy schedule as well. In addition to her job and volunteer activities at Iowa State, she and her hus-band have a three-year-old son, Alex, and infant daughter, Anna Catherine, born May 30. ■

“Helping the college is a way to be connected beyond my work environment.”

Julie Middleswart

“I tell prospective students that college gives you the opportunity to make friends with people who aren’t like you.”

Ruby Trice



THE TWO MOST IMPORTANT WORDS IN FUNDRAISING

We have some ambitious campaign goals to achieve, and we have much work to do in the next four years to meet them. And while it is critical we think ahead to what the future holds, we should also pause for a moment and pay tribute to those who have brought us this far. So although our journey is far from complete, I want to stop and say something very important.

Thank you to our alumni, friends, and volunteers, who give of your time, talents, and resources to keep building upon the success we’ve achieved in this college. Thank you to our students and parents, who trust us to provide an education that will alter the futures of thousands of young people, and who are our greatest ambassadors to future Iowa Staters in their own families and communities. Thank you to our faculty and staff, who work tirelessly to make the student experience in the College of Business the best it can be. Thank you to our corporate part-ners, who hire our students, support our programs, and seek out our fac-ulty for expertise. Thank you to our campaign com-mittee, profiled on page five. This

important volunteer committee has committed its guidance, enthu-siasm, and passion to the College of Business. They have all made leader-ship gifts to support the campaign. And thank you to all of our donors, especially those who made a gift in our most recent fundraising year (see pages 31-35). The College of Business experienced an incredible 2006-2007: thanks to the support of 1,695 donors, we raised nearly $12.5 million, easily surpassing our goal of $6 million for the year. This success is especially impres-sive considering the challenges our college faces when it comes to raising money. The college’s young age—less than 25 years old, with business programs at Iowa State having been

around for a shorter time than many of its peers—means that our alumni base is also young, with an average age of only 46 years old. So considering those things, the $42 million campaign goal that the College of Business has set is cer-

tainly a stretch goal. Yet at the same time, it is one we feel confident we can achieve. And we are on track so far, having raised over $26 million. Campaign Iowa State: With Pride and Purpose provides an opportunity for everyone to become involved. Regardless of your affiliation to the College of Business or your age, you can make an impact on the future of this college. More importantly, every gift—every gift—matters. The College of Business is poised to build on our momentum and pro-vide enhanced opportunities for our students and faculty. I hope that you will help us elevate the college to the highest levels of success. ■

Jeremy Galvin is the director of development for the College of Business. Contact him toll-free at 866 419-6768 or by e-mail at [email protected].

As you can clearly see, Campaign Iowa State: With Pride and Purpose is an important initiative for the future of the College of Business. This campaign will create new research and educational opportunities, transform existing ones, and provide a reliable and flexible source of funding for years to come.

“We should pause for a moment and pay tribute to those who have brought us this far.”

JEREMY GALVIN

JEREMY GALVIN

THANK YOU.

MBA case competition teams from the College of Business had a banner year in 2006-2007. On February 17, Iowa State’s MBA case team was chosen as one of the two best teams in the Big 12 North and was sent to the “Final Four” round of the inaugural Big 12 MBA Case Competition in Norman, Oklahoma in March. One week later, another MBA case team placed second in the FedEx Freight International Graduate Logistics Case Comp-etition held at the University of Arkansas February 22-24. Teams of MBA students from 12 United States and European universities played roles of supply chain business consul-tants for a major firm. The teams were given 24 hours to analyze a situation. Then each team made a presentation to the judges who were role playing as the company’s board of directors. The judges were upper-level managers and executives from compa-nies that assist in sponsoring the event. The case study centered on new product launches from DuPont, the multinational chemi-cals and health-care company. Students had to make recommendations on which products to launch, based on a comprehensive view of the company’s capabilities—especially those of its supply chain—and operating environment. The Iowa State team included Tharangi Ranasinghe, Pannipitiya, Sri Lanka; Monica Kak, New Delhi, India; Doug Stout, Waukee, Iowa; Jason Beichley, Waukee, Iowa; Jonathan Greenlee, Davenport, Iowa; and Brook

BR

IEF

S MBA Team Takes Second at Supply Chain Competition

“The judges were very complementary on their presen-tation and we hope to build on this success.”

—RHONDA LUMMUS

Richardson, Fairfield, Iowa. Finishing so highly was encouraging to the students. “Our team was very pleased with the results,” said Richardson. “It was the first time Iowa State was invited to the event. And some of the schools present are ranked in the top 10 nationally.” The first place team was Darmstadt University of Technology from Germany. According to Richardson, representatives from several companies

were also at the competition giving contestants a chance to network with industry leaders. The team’s faculty advisor, Rhonda Lummus, an associate professor of operations and supply chain management in the College of Business, knows how hard the team members have worked to get where they are. “This team used its analytic and presentation skills, built through their MBA curriculum, to do an outstanding job at the

competition,” Lummus said. “The judges were very complementary on their presentation and we hope to build on this success by returning next year.” Lummus praised the team’s preparation prior to the event, arranging mock run-throughs based on other supply chain management cases and closely studying the rules of the competition. Other competing schools included: Arizona State University, Michigan State University, The Ohio State University, Pennsylvania State University, Texas Christian University, the University of Arkansas, the University of Maryland, the University of Minnesota, the University of Wisconsin-Madison, and Chalmers University of Technology of Gothenburg, Sweden. ■

MEMBERS OF THE IOWA STATE TEAM, LEFT TO RIGHT:

RHONDA LUMMUS, ASSOCIATE PROFESSOR OF LOGIS-

TICS AND SUPPLY CHAIN MANAGEMENT; THARANGI

RANASINGHE; DOUG STOUT; JASON BEICHLEY; BROOK

RICHARDSON; JONATHAN GREENLEE; MONICA KAK;

AND BOBBY MARTENS, ASSISTANT PROFESSOR OF

LOGISTICS AND SUPPLY CHAIN MANAGEMENT.



Business Economics Major New for 2007The disciplines of business and economics are, in many ways, fundamentally linked.Where business studies the organizations and functions that deliver goods and services to customers, economics studies those goods and services with respect to production, distribution, and consumption, and the choices we make about how to best utilize the resources we have. Certainly there is significant overlap in the two fields, and at many institutions of higher education—including many of Iowa State’s peer institutions—the economics department is actually a part of the College of Business. Not so at Iowa State, where the Department of Economics is housed in the College of Liberal Arts and Sciences. But many of Iowa State’s business majors still seek a stronger background in economics, and economics majors often look for addi-tional business instruction. To meet that need, the College of Business and the Department of Economics have partnered to introduce a business economics major, available to students beginning in the fall 2007 semester. “The business economics major was designed to fill a gap in the curriculum,” said Kay Palan, associate dean of undergraduate programs for the College of Business. “Previously, students who wanted coursework in both business and eco-nomics had to major in one discipline and add electives of the other discipline. This approach caused some problems.” One issue that the new major will help solve is preparation for upper-level coursework. The less structured approach of using electives to gain expe-

rience in business or economics led to students taking courses out of sequence and entering upper-level classes unprepared by the proper prerequisites. “If students are taking senior-level coursework without the necessary preparation,” said Palan, “then they aren’t getting all they can out of the class.” Another issue the new major hopes to solve is adequate recognition of each discipline on a graduate’s transcripts. Currently the transcripts

of students graduating from the College of Business show the business degree only, without adequately reflecting the cross-disciplinary education they receive in economics. “The alternatives we had prior to the business economics major were not working,” said Ann Coppernoll, director of Undergraduate Programs in the College of Business. She also pointed out the career benefits to students of this major. “The busi-ness economics major offers a wide range of career prospects to students. The major will be beneficial to those seeking positions in government, law, or entrepreneurship,

finance, research, and public- or private-sector lead-ership, among other options. “Not only does this solve our curriculum prob-lems,” said Coppernoll, “but we think it presents some attractive career options as well.” The new major will be the ninth undergraduate major offered in the College of Business. Currently students can major in accounting, finance, logistics and supply chain management, management, man-agement information systems, marketing, operations and supply chain management. An international business major is also offered, but must be taken in conjunction with another major. The College of Business estimates that there will be approximately 60 business economics majors by 2010. ■

“Previously, students who wanted course-work in both business and economics had to major in one discipline and add electives of the other discipline. This approach caused some problems.”

—KAY PALAN

KAY PALAN

ANN COPPERNOLL

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Jack (John) Larsen (’48 Industrial Ad-

ministration) retired from a manage-ment professorship at the University of Tennessee in 1987 and closed his small consulting business a couple of years ago. Jack and his wife, Suzy, are enjoying their retirement.

James Michael (Mike) Maggert

(’79 Industrial Administration) has recently accepted the position of chief accounting officer for Alpha Services, International Quality Homecare and Omega Services. Additionally, he has been assigned the responsibilities of director of sales and marketing and CAO for HomeKeepers International Franchising, LLC. James’ daughter will be attending Iowa State University in fall 2007, bringing the total number of family members to attend Iowa State to seven.

Fred Schuster (’80 Industrial Admin-

istration) was appointed by President Bush to be the regional director for the U.S. Department of Health and Hu-man Services for the states of Iowa, Kansas, Missouri, and Nebraska. He leads more than 600 employees and has given hundreds of presentations concerning the Medicare Prescription Drug program, Value Driven Health Care, Medicaid reform and other ini-tiatives. Fred and his wife Donna have been married for 19 years and have two daughters.

Colleen (Hanna) Huffman (’85 General

Business) is the operations direc-tor at the School of Management at George Fox University. She serves as the assistant to the dean of the school. Colleen has been accepted into the Professional MBA program at George Fox University and will begin coursework this fall.

Michael Holtzbauer (’86 Manage-

ment) has been with the Meat Labo-ratory at Iowa State University for 20 years. His duties include irradiator operator, meat processing specialist, purchasing agent, safety coordinator and working with personnel. Michael gives lectures to students and indus-try on food irradiation and applica-tions and has been a lab assistant to a professor in meat science.

Jesus Hoyos (’89 Management Infor-

mation Systems) is co-founder and partner for Solvis Consulting, LLC, in Miramar, Florida, which specializes in customer relationship manage-ment services.

Jennifer Anders MacDonough (’92

Marketing) spent her first five years following graduation as a consultant for Andersen Consulting, now Ac-centure. She then spent seven years in strategic marketing consulting with boutique firms and as a freelancer. Jennifer is currently director of mar-keting for Memorial Hermann Hospital based in Texas Medical Center in Houston. One of her most memorable experiences was leading the planning

and execution of a successful launch of the Roger Clemens Institute for Sports Medicine and Human Perfor-mance at Memorial Hermann.

Craig Hertel (’92 MBA) is employed in Extension at Iowa State University in Jefferson, Iowa.

Dana Kevish (’92 Marketing) is the eCommerce marketing manager at Ace Hardware Corporation in Oak Brook, Illinois. Her primary respon-sibilities are the strategy, day-to-day operations and overall management of acehardware.com. Dana began work-ing with Ace Hardware in 1995 in the marketing department.

Teri Hoeft (’94 Transportation and

Logistics) is employed at Exel Transportation Services, Inc., and supports a network of 78 agencies in North America managing contracts, capacity needs and requests for over 14,000 motor carriers. Exel/DHL is the second largest employer in the world behind Wal-Mart.

Jae Hyean Hwang (’94 Manage-

ment and Management Information

Systems) is responsible for business development at Microsoft.

Andrew Hensen (’96 Marketing) lives in Ankeny, Iowa, with his wife Kari (‘96 Sociology, ‘98 M.S. and ‘05 Ph.D., Edu-cation) and their two children, Kelsey, age four, and Drew, 21 months. He has been a financial advisor with Smith Barney for eight years. His wife is the judicial affairs director for Des Moines Area Community College.

Matthew Hacker (’96 Accounting)

recently accepted a position with BAE Systems IT as a senior principal enterprise architect. He is currently integrating three major systems for

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Alumni

the U.S. Air Force to manage all service and MRO (maintenance, repair and overhaul) activity. The project duration will be several years and is based out of Wright Patterson Air Force Base in Dayton, Ohio.

Jen Estochen (’99 Transportation and

Logistics and Management Infor-

mation Systems) and her husband Brad (’97 B.S., ’99 M.S. Construction Engineering) welcomed their twin daughters, Kylie Rose and Neela Marie, on February 17, 2007. Jen is a supply chain analyst at 3M in the Electronic Markets Materials Division based in St. Paul, Minnesota.

Stacey Jorgensen (’99 Finance) began her own business, Open Book Finan-cial Coaching, which customizes plans to help clients achieve financial suc-cess. Stacey and her husband Brad were blessed with their daughter, Jensen Renee, on February 6, 2006.

Eric Houston (’01 Management Infor-

mation Systems) joined the Overland Park, Kansas, police department as a police officer upon his graduation from Iowa State. He is assigned to the traffic safety unit, riding a motor-cycle and specializing in advanced collision investigation.

Adam Laug (’02 Management Infor-

mation Systems and Transportation

and Logistics) is assistant director of IT Operations at the Iowa State University Foundation. He is in his final year of Iowa State University’s Master’s of Public Administration program. Adam and his wife, Nikki, had their first child, Harrison James, on May 5, 2007.

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Mark Hughes (’03 Marketing) is a traveling bookkeeper/IT support/staff accountant with Kinseth Hotel Corp. in North Liberty, Iowa. He travels throughout the Midwest giving sup-port to hotels and restaurants such as Courtyard by Marriott, Hilton Garden, Green Mill, Hampton Inn, Bennigan’s, and Holiday Inn.

Gagandeep Kanwar (’03 MBA) is assistant vice president for Paul Reinhart, Inc., one of the leading cot-ton trading companies in the world. Kanwar markets U.S. cotton in India, Pakistan and Bangladesh.

Frank Kennedy (’04 Accounting) is a financial consultant at Wells Fargo. He tracks expenses and prepares budgets for two departments. ■


Bravo III, a fabricated bronze sculpture by artist Bill Barrett, was installed outside the westentrance of the Gerdin Business Building in December 2006. Barrett is one of today’s foremost sculptors and is represented in numerous private and public collections around the country, including many university campuses. According to his Web site, his works “address the interplay between positive and negative space with grace, elegance, and exquisite balance.” ■

Building Welcomes New Art Installation

B U S I N E S S A L U M E A R N S V O L U N T E E R A W A R D

Each fall, the College of Business honors its most distinguished alumni at the ISU Alumni Association’s Honors and Awards Ceremony at Homecoming. This year, two alumni will receive the college’s Citation of Achievement Award, which was established in 1985 to honor distinguished alumni who have demonstrated outstanding achievement in life beyond the campus. One alumnus will receive the John D. DeVries Service Award, established in 1985 to recognize an individual who has demonstrated outstanding service to the college. The awards ceremony will take place on Friday, October 19.

C I TAT I O N O F A C H I E V E M E N T

H O N O R E E S

Laura Beller (’76 Industrial Administration) is a co-founder and venture capitalist with Meritage Private Equity Funds in Denver,

Colorado. She has more than 20 years of experi-ence in private equity investing. She oversees all operational aspects of the firm including investor reporting, internal controls, administrative staffing, distributions and cash flow. Her efforts earned her the 2003 Outstanding Woman in Business Award from the Denver Business Journal. She also has an MBA from Rutgers, and lives in Parker, Colorado.

Homecoming Awards Honor Outstanding AlumsWalter Smith (’69 Industrial Administration) is chairman and chief executive officer of Thombert, Inc., and ITWC Polyurethane. He was the Iowa Small Business Person of the Year in 1995, leading his companies

from $600,000 in annual sales to nearly $50 mil-lion today. Smith, who also earned an MBA from Drake University, currently serves on the board of directors for three other companies. He is a member of the College of Business Dean’s Advisory Council. He lives in Newton and has four children and two stepchildren with his wife Sibyl.

J O H N D . D E V R I E S S E R V I C E A W A R D H O N O R E E

Craig Petermeier (’78 Industrial Administration) is the president and chief executive officer of Jacobson Companies, a nationally ranked third-party logistics and warehousing firm based in Des Moines. He has

helped to oversee the explosive growth of what is now the fifth-largest third-party logistics provider in the United States, with over 6,000 employees in 140 locations and $550 million in annual revenue. Petermeier is the chair of the College of Business Dean’s Advisory Council, The ISU Foundation’s Order of the Knoll, and the ISU Coaches’ Circle. He and his wife Virginia live in Mingo, Iowa, and have two children: Lindsay, a senior at Iowa State, and Jonathon, a senior at Baxter High School. He received the Citation of Achievement Award in 1999. ■

Dan and Theresa Etler are the recipients of the 2007 James A. Hopson Alumni Volunteer Award. Dan is a 1995 College of

Business graduate with a degree in finance, and Theresa is a 1998 speech communication graduate. They live in Shawnee, Kansas. Dan, a native of Emmetsburg, Iowa, is a program leader with Hallmark Cards in Kansas

City, Missouri. The award recognizes Iowa State graduates age 40 and under who demonstrate early volunteer lead-ership in alumni activities and who are ISU Alumni Association members. ■

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A reunion honoring two of the College of Business’ early leaders was held on Saturday, April 21 during the celebration

for VEISHEA and the kickoff for Iowa State University’s 150th anniversary. Dr. Charles Handy, professor emeritus of accounting and the founding dean of the College of Business, and Dr. William Thompson, professor emeritus of transportation and logistics and former department head of industrial administration, were on hand to visit with former colleagues and students and share memories of their years at Iowa State. On a perfect spring day, guests watched the VEISHEA Parade from the front lawn of the Gerdin Business Building, then enjoyed lunch before moving indoors for a symposium, where both Handy and Thompson took the floor to tell old stories. They reminisced about old buildings, early classes, and the business program they never imag-ined would become as large as it has today. It was a rare and special opportunity for many former students and fellow faculty members to say “thank you” to two men who greatly impacted their lives. ■

Handy-Thompson Reunion Held at VEISHEA

DRS. CHARLES HANDY AND WILLIAM THOMPSON, LONGTIME FACULTY MEM-

BERS AND LEADERS OF THE BUSINESS PROGRAM AT IOWA STATE.

DR. WILLIAM THOMPSON OFFERED SOME STORIES FROM HIS TIME ON THE

BUSINESS FACULTY IN INDUSTRIAL ADMINISTRATION.

DR. CHARLES HANDY, RIGHT, TAKES A BREAK FROM LUNCH TO CHAT WITH HIS

FORMER COLLEAGUE, DR. DALE VOORHEES.

CENTRAL CAMPUS WAS PACKED WITH ALUMNI AND FRIENDS WHO CAME

TO CELEBRATE VEISHEA AND THE KICKOFF OF IOWA STATE’S YEAR-LONG

150TH ANNIVERSARY.


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New Faculty and StaffE. Deanne Brocato, assistant profes-sor of marketing. Brocato recently finished her postdoctoral studies and was a visiting scholar at IC2 Institute at the University of Texas at Austin. She earned her Ph.D. in marketing from the University of Texas at Arlington. Her research interests are in services marketing.

Suzanna de Baca (’86 Art and Design), lecturer of finance. de Baca is founder and president of Private Capital Solu-tions Group in Des Moines, Iowa.

Mary Evanson (’00 Psychology), director of development for the ISU Foundation. She was previouslyemployed at Domin-

ican University as the director of annual giving.

Guy Helmer (’98 M.S. and ’00 Ph.D., Com-puter Science), lec-turer of management information systems. Helmer is currently

employed as chief system architect at Palisade Systems in Ames, Iowa.

Chrystal Martin, academic advisor and graduate assistant in the Union Pacific Undergraduate Programs Office. She is a graduate of the University of Minnesota.

Rob Musselman,

academic advisor in the Union Pacific Undergraduate Programs Office. He was previously

an advisor and adjunct instructor at Buena Vista College.

Sekar Raju, assistant professor of market-ing. Raju previously taught at the School of Management at the University of Buffalo.

He earned his Ph.D. in marketing from the Ohio State University. His research interests are brand commitment, attitude strength, memory, customer relationship management, and the ef-fects of advertising.

Valentina Salotti, lecturer of finance. Salotti is currently a visiting scholar in the College of Business at Iowa State and

a Ph.D. student at the University of Bologna, Italy.

Laura Smarandescu, assistant profes-sor of marketing. Smarandescu came to Iowa State from the Moore School of Business at the University of South Carolina, where she earned her Ph.D. and spent time as a research assistant in psychology. Her research interests include behavioral decision theory, context effects, affect and cognition interplay, and special consumer groups.

Tammy Stegman, career coordinator for Business Career Services. Stegman comes to Iowa State from ATW

Training and Consulting, Inc., where she was a corporate trainer, working

with staff and leadership development training programs. She earned her bachelor’s degree from the University of Northern Iowa.

Nicole Vidden, academic advisor in the Union Pacific Undergraduate Pro-grams Office. Vidden was previously em-

ployed at Minnesota State University, Mankato, where she worked in the First Year Experience Office and with learning communities.

Maria Wolfe, lecturer of management. She currently is a graduate student at Iowa State, majoring in English.

Peng Xu, lecturer of finance. Xu previously taught at Rotman School of Manage-ment, University of Toronto.

Jing Zhang, assistant professor of management. She was previously RCUK research fellow at Lancaster University

Management School in Lancaster, United Kingdom. Zhang earned her Ph.D. in business policy from the Na-tional University of Singapore and has research interests in strategic manage-ment, entrepreneurship, social network

theories, and international business. ■


F A C U LT Y A N D S TA F F H O N O R S

and community lending. Dean Hira will serve a three-year term that began in January 2007.

Jeffrey Kaufmann,

assistant professor of management, was awarded an Outstand-ing Reviewer Award by the Business

Policy and Strategy Division of the Academy of Management.

Stephen Kim, Dean’s Faculty Fellow in Marketing, received with his co-authors a silver medal from the Institute for the Study

of Business Markets at Smeal College of Business at Penn State University. Kim also received a reviewer award from the Journal of the Academy of Marketing Science.

Stephanie Larson,

academic advisor, was named Business Council Advisor of the Year for 2006-2007.

Frank Montabon, associate professor of operations and supply chain management, has been named to the

Associate Editor Board of the Journal of Supply Chain Management.

Deb Noll, academic advisor, was elected to chair the Advising Business Majors Commission of the National Academic Advising Association.

Mark Peterson, direc-tor of graduate career services, was named the VEISHEA 2007 Col-lege of Business Staff Member of the Year.

Charles (Brad)

Shrader, Eucher Faculty Fellow in Management, was named University Professor. Shrader

was also selected as the VEISHEA 2007 College of Business Faculty Member of the Year.

Amrit Tiwana received the Best Article Award for 2006 from Decision Sciences Journal. Tiwana and his co-authors researched

over 1,000 projects from 100 technology companies to learn more about the out-comes of managers committing greater time and resources to failing projects.

John Wong, associate professor of market-ing, was inducted into the university’s 25-Year Club.

Ron Ackerman,

director of graduate admissions and student services, was awarded the 2007 Regents

Award for Staff Excellence.

Rick Carter, Dean’s Professor of Finance, was awarded the 2007 Regents Award for Faculty Excel-lence. Carter was also

honored as the 2006-2007 Teacher of the Year by Business Council.

The Iowa State University Alumni Association honored Mike Crum, associate dean of graduate pro-grams and John and

Ruth DeVries Endowed Chair in Busi-ness, the Superior Service to Alumni Award, given to an Iowa State faculty or staff member who has demonstrated a commitment to establishing or furthering alumni relationships with the university.

Judi Eyles, associate director of the ISU Pappajohn Center for Entrepreneurship, received the Learning Community Champion

Award for her work with the Entre-preneurship and Innovation Learning Community.

Labh Hira, dean, has been appointed to the Board of Directors of FHLB Des Moines, a wholesale cooperative bank that provides

low-cost, short- and long-term funding


CONTINUED ON PAGE 35

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Gary Pint had a great experience as an undergraduate in the Department of Industrial Administration at Iowa State, which helped him develop an outstanding career after he graduated in 1958. Now that he is retired, he wants to help create great opportunities for stu-dents in today’s College of Business. Gary and his wife Margaret recently made a donation to the College of Business to endow a faculty fellowship in mar-keting. Their leadership-level gift will fund the Gary and Margaret Pint Faculty Fellowship. “The industrial admin-istration department at that time was a fun place to be, a kind of embryo,” said Pint, reflecting on his days in Ames. “And importantly, there were some fantastic faculty —like William “Wild Bill” Schrampfer, Harry Shadle, Chuck Handy, Bill Thompson, and others.” After he graduated from Iowa State, Pint went to work for 3M. He spent his entire 35-year career there, beginning as a sales representative in the electrical product division, then moving to mar-keting management in telecommunications areas. “We came up with an idea for a telecommunica-tions business at 3M, and spent time generating support for our idea,” Pint said. “Sponsorship helped, 3M pursued it, and it grew into several successful businesses.” Pint was promoted to divi-sion general management and eventually to group vice president of electrotelecom systems.

Pints Create Faculty Fellowship

“The faculty attract students and help them with their own growth opportunities.”

—GARY PINT

“We’re very thankful that Gary and Margaret have so generously funded this faculty fellowship,” said Labh Hira, dean of the College of Business. “Gary and Margaret have been great friends to the College of Business, and it is an honor that one of our faculty positions will bear their names.” Pint was especially attracted to the opportunity to support the college’s faculty. “I believe very strongly in the process of building a world-class faculty,” he said. “The faculty attract students and help them with their own growth opportunities. This will be key to the continuing success of our

Iowa State University College of Business.” Pint has been very active in supporting the College of Business. He was a longtime member of the Dean’s Advisory Council, and thanks to the Pints’ gift to the construction of the Gerdin Business Building, a second-floor classroom bears their names. He was instru-mental in establishing

the 3M Business Lab, a joint collaboration between 3M and the Colleges of Business, Engineering, and Education (now Human Sciences). The lab’s purpose was to bring students from different backgrounds together in an entrepreneurial envi-ronment to work for course credit on real business issues and opportunities. Pint says he is proud of the progress his college has made. “I have great admiration for what has been done by the administration and the faculty,” he said. “The growth and the achievements are very significant, and that will bring other people forward to say, ‘I want to be a part of this.’” ■

GARY AND MARGARET PINT


Annual Support for the College of BusinessThe College of Business would like to thank our treasured alumni, friends, and corporate and foundation partners for their annual support during the academic year beginning July 1, 2006, and ending June 30, 2007. Their contributions demonstrate a commitment to ensuring that our students and faculty have the resources to grow in an increasingly competitive marketplace.

Many additional donors have supported the College of Business during 2006-2007 and requested confidentiality for their gifts. Those gifts are not listed here. If you prefer your name not be published, please contact the ISU Foundation Alumni Records department at 515 294-4656 or [email protected]. For more information on how you or your company can support the College of Business, contact Jeremy Galvin, director of development, at 866 419-6768 or [email protected].

$ 1 0 0 , 0 0 0 A N D A B O V EKelley and Joan BergstromSteve and Debora BergstromJohn and Ruth DeVriesArthur and Betty HeggenJohn and Mary Pappajohn

$ 5 0 , 0 0 0 - $ 9 9 , 9 9 9Allan and Sue LandonRobert and Jane SturgeonCora Wortman

$ 2 5 , 0 0 0 - $ 4 9 , 9 9 9David and Margaret DruryWilliam and Elizabeth GoodwinJune Lovejoy Estate

$ 1 0 , 0 0 0 - $ 2 4 , 9 9 9Ed DrosteRalph and Jean EucherPatrick Flannery EstateMark and Pamela Fisher

John and Diane HarringtonLabh and Tahira HiraTimothy and Karen O’DonovanNed SkinnerRobert and Virginia StaffordMurray and Valerie Wise

$ 5 , 0 0 0 - $ 9 , 9 9 9Miles and Catherine BarkerLeslie ButtorffGregory and Terri ChurchillRobert CoxMichael and Sue CrumJoseph and Dianna ElwellJames and Ann FreinDavid Garfi eldFred and Carol HoibergRichard and Carol JurgensWilliam KalmMichael McBreenRobert McLaughlinSue Ravenscroft

Tom and Ann RiceSteven and Rose Ann SchulerTroy SenterSmith Family Foundation TrustDonald and Patricia Wolfe

$ 2 , 5 0 0 - $ 4 , 9 9 9Kenneth CaratelliJerald and Cindy DittmerDavid and Kathleen EcklundDenise EssmanWilliam and Gloria GallowayCharles HandyIsaiah and Charlene HarrisKurt and Cara HeidenMadolyn JohnsonJoanne ReevesFrank and Juliane RossMaralee ShadleJohn and Jennifer StreitGary and Susan StreitAmrit Tiwana

$ 1 , 0 0 0 - $ 2 , 4 9 9James AuenKeith and Denise AxtellRaymond and Joan BeebeMichael BootsmaC. Dean and Sandra CarlsonMichael and Mary Ann CarlsonNancy DittmerJohn and Wendy DustonDavid and Cynthia FinchDon FinneganBeth FordDavid and Nancy HalfpapCaroline HayesLorene HooverJay and Loree HornDan HoustonGerald and Carol HunterFrank and Cynthia JeffreyJ. Scott and Julia JohnsonTimothy and Jolene KneelandCheryl KrongardGregory and Joyce KvetonMike and Jane LaMairBruce LambertTodd Leland

Craig and Beth MarrsJohn MertesJohn and Quay MitchellThomas and Janet NugentChristopher and Sondra PaskachLarry PearsonCraig and Virginia PetermeierGary and Trudy PetersonKevin and Kathleen PrienRandal RichardsonGeorge and Marcia SchallerMary ScheveLarry ScottThomas Mueller and Sheryl Sunderman Scott TaylorKenneth and Janet ThomeJames and Carole TriplettLynn and Jody VorbrichBruce WebbScott and Judith WilgenbuschGeorge and Sue Ann WilliamsonMyron and Esther WilsonEric Zarnikow

$ 5 0 0 - $ 9 9 9Peter AdamRick and Sonia ArnoldRonald and Engra BanseBelinda BathieCarl BoatDavid and Susan BolteMarvin and Vicki BouillonJudith BrowerTimothy and Amy BurrellRichard CarlsonDaniel DavisonRichard DeblieckB. Michael DoranTerri EliasMark and Deanna Elliott-StoeringRyan GlanzerLouis GloverJames GrahamLoren GustafsonJohn and Nancy HallelandJay HardemanDonald HaugoArlo HerboldDavid Hoover

S U P P O R T F R O M A L U M N I A N D F R I E N D S


Thomas and Ellen HoweDonald HuberDouglas IrwinCarolyn Jones CarrAllen and Kathy KocklerDeborah LancasterEric and Mary LarsonJon LeinenDerek MazulaGary and Peggy McConnellJ. David McIntoshJeffrey MeltonJoan MeyerPaul MillerTroy and Tracey MostaertRainer MuesRoger MurphyRoger NeumannMark O’GormanClark and Nancy ParksWayne PrescottDennis and Amy PyleBrenda RichmannTodd and Kelley RobinsonMichael and Renee ScheuermannJoseph and Maggie SchnepfNeil SchraederRichard and Kari SchulteJennifer SchultzGerald SewickMichael ShepherdTimothy SirplessCraig StapletonRuth Ward-SchraederRichard and Sandy WellmanRobert WieseCharles Wood

$ 2 5 0 - $ 4 9 9William and Susan AdamsKeith and Sheri BandleCraig BarnesWalter and Heidi BaskinRussell BeecherCraig BlackJohn BruceMichael and Peggy BucherSteve CampbellTeresa Carley-Brown

Charles and Jen ChristensenBrent ChristensonSteve CoderCheryl ConoverSandra CooneyElizabeth CosnerJoseph CoteThomas CrawfordRuss and Beth CrossLisa DiasHoward and Dee DickeThatcher and Shelly Barnum DilleyDavid DirksKenneth EastmanMark EchtenkampMark and Jeanne EibesDeborah EkrothJoel ElmquistCraig FearLaura FredricksonPhillip GalePamela GallagherPeter and Luann GilmanChristine GrishamJeffery HaddenPatrick and Debra HammesGregory HarperCharles HarrisCraig and Cheryl HartCharles HawkinsGerald and Jean HoffmanScott HudsonMichael HummelJeremy and Kristi HumpalCarol JensenJudith JohnsonVernon JunkerGregory and Sharon KaczmarekLawrence and Carole KerrSusan KestingDavid and Robin KilgorePatrick KirchnerTeresa LapinskiePaul LarsonMark and Alison LawMichael MaloneyRichard and Mary MaschingEdward MeissnerBarbara Miller

Richard MillerDennis MilneMarc NabbefeldtLisa NeeseJohn NelsonErik and Deborah OilerJane OnkenKaren OttoDebra OvertonJanette ParksGregory PennScott PfeiferDouglas and Jo Ellen PyleLing QinDave ReuterMitchell RoggemannHarold RosenDavid SafrisNaomi SageDavid SawinDavid SchwickerathRalph ScottMark SiegelMichael SordenRonald SpielmanKevin and Gabrielle SteffensmeierRandall and Denise StrumMatthew and Andree SwansonKimberly ThuenteKevin ToftCharles and Cathy Van WinkleRobert Vander LindenTimothy and Diane VanGoethemScott VreemanPatricia WalshStanley WarrenTom WilsonDarren WilsonDavid WolfeStephanie WoodBrian and Carol WorthKimberlee WrightDavid Young

$ 1 0 0 - $ 2 4 9Paul AbensGary and Kathryn AitchisonAlan BrownAlan Rickert

Jeffery AlbrachtAndy and Robecca AndersonLarry AndersonLynn AndersonLinda ArmbrusterJanet ArnoldTyler ArtzJean AultKeith BaderJerald BallAnnette Banwart-DellacroceJames BarneyPaige BarneyLeon and Reba BenschoterWarren BensonMerita BergstromJoel BerklandMatthew BerryJohn and Suzanne BorisKaren BoriskeyKeith and Laura BoslerAllan BoykenMatthew BraafhartJonathan BrackmannJames BreitenkampBarbara BrooksDavid BrousardJeffrey BrowerRobert and Florence BrownSusan BrownRichard BrownSally BrownBryan CrockDale BuehlerDanny and Mary BusseCraig CalhounHarriet CampbellLawrence CarlsonCarolyn PortnerSusan CartagenaBrian CarterKeith CarterTracey CasacciaDean CasadSteven ChambersJohn ChesserJason ClausJay CobbSherrie Coffelt


Annual Support for the College of Business/continued

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Ronald CollisonTimothy ConnollyRichard CopeJeanette CorumMarsha CorySteven and Carolyn CremerSarah CumminsJames and Brenda CushingCharles and Betty DaltonFrederick and Veronica DarkRandy DavidsonMark De GidioDavid De JongDon De LongKimberly DeBaereJill DeLioJohn DessertMichael DicksonAnn DoddMichael DoddNancy DopMatthew DoranThomas DoughertyDeeAnn DrewJoseph DuBoisTimothy DyeJeffrey EaganGeoffrey and Maureen EastburnMichael EganBruce EichmanKristie ElmquistLisa EngstromPattie ErpsDavid EvansMichael FahningDebra FearJohn FeldLinda FevoldMarda FickesGary FieldsKaren FincelTony and Linda FinnertyBruce FischerChristopher FisherBarbara FleigDennis FliederDaniel FlynnNicholas and Stephanie FoxLewis French

Gary FridleyMatthew FrohardtBethann FroistadM. Richard and Linda FroistadCarl and Diana FulkJames FultonLinda GabrielBrian GaroutteJennifer GarrelsSamara GartonDonald and Mary GeigerDavid GibsonElizabeth GildeaDavid GionKelly Goffi net-DicksonRhonda GoldenMarvin and Crystal GordonLarry and Mary GrantSteven GreeneTimothy GreeneWilliam GregersonJay and Joanna GrubbTracy HaddenDavid HallmanLarry HameisterJo HamlettJeffrey HandChennikkara HansenJohn HansenMatthew HansenRichard HansenRobert HanserDavid and Kay HarpoleAngela HartJeffrey HawkinsPaul HawkinsTamara HegelTerry and Gwen HenricksenTerry and Patricia HintonDavid HiserodtToby Hoffman and Tricia TriplettJohn HofmeyerTed and Eleanor HollanderBeth HomeisterWilliam HonkeRonald HoppelAllen HornStephen HowardEdward and Mary Howes

Stephen HowesJesus HoyosGayle HuckRichard HuckaThomas InglebyPaul JacobsenDaniel JacobsonLara JefferyBruce and Cindi JensenBrian and Maureen JessenJeffrey JohnsonJames JorgensenThomas JostesDale and Mary KarpLori KarssenJozef and Marla KautzkyKaren KeslGary and Maurene KlevenNancy KnudsenJason KnuppCynthia KrageDonald KragelMichael KragenbrinkConstance KrelleMichael KriegerRobert KrierMark KuchelValerie KuehlCharles KurthHubert LattanRobert LavenderTracy LawsWilliam LebuhnThomas LechnerJon LeinenAnn LeonardMary LewisTammy LewisPaul LivingstonJeffrey LockwoodChris LonowskiBradley LorengerStacey LovanChristian Love HutchesonMaryAnn LundyTom MacklinDarlene Madura-ZiemanRobert and Nancy MahnkeSamuel Makinye

John ManternachSandra Marcus LindgrenJames and Jean MartinMark MartinRebecca MarzenLawrence MassaTodd MaySally McAteeJames McDonaldMichael McEnroeMatthew McGregorDouglas McKechnieJ. Douglas McKinstryPaul MeaseRobert MeinholdMark and Rebecca MelsaRomona MeneoughBrian MesserTheodore MeyersMiranda MhangoAmy MillerJeffrey and Pamela MillerStacia MoellerDavid and Angela MoenchDiane MooreKyla MooreJay and Pamela MorrealeNancy MortensenBrian MosherLaird MottDavid MumfordSuzanne MurphyGary and Rosemarie NationRoy NelsonStephen NelsonDan NemmersBrenda NibloMarc NicholsMichael NickeyDennis NuetzmanDouglas ObalRyan and Colete O’DonnellRobert OggDavid OlsonJim OlsonAaron OlsonMark OlthoffDebra OltmannJames Osterling

Hayes OwenTodd OwenDavid PantaloneDavid PaskachDean PaytonPatricia PeifferPaul PenceLoren and Tonia PetersStephen PohlRodney and Jennifer PotratzRobert PrellGregory PriskStephen and Jennifer PuckLaura PyerJanet QuickRobert RanardJohn RansomPaul RathMary ReckardReed SpiegelDavid ReiffRenee ReimerStephen RemingtonRobyn ReuterLori RockersMargot RogersTim and Jan RomeneskoJames RoseRodney RossCharles RothCurtis RouseScott RudeWilliam RuskCarl RussellStephen SandmanJohn and Krista SantucciJon and Kristin ScharingsonJeffery SchirmKent SchmidgallCathy SchmidtLawrence SchmitzPamela Schneider-JenningsJulie SchnoebelenBruce SchumanWilliam SchwickerathSally SelbyAllan and Shari SeversonLarry ShimaLee Simmons

Warren and Susan Simons Robert SimonsenPamela SimpsonRoy SipleE. Paul and Marian SjursonNancy SkubisGina SlackRyan SlatteryAngela SmeinsDaniel SmithSteven SmithBruce SnethenRichard SnyderMarc SnyderMark SorensonClinton SpanglerKurtis SpielerJean SrourThomas and Cynthia StarkNeal SteffensonJeffrey SteggerdaBrenda StephanyTimothy StoesselBrian StreichSamuel StrotmanCristina StrudthoffG. Thomas SullivanKyle SwonRoy TeasLaura TeKippeScott TempletonEric TerpstraAdrienne TetreaultWilliam ThatcherElizabeth ThompsonErik and Kathryn ThompsonSandra ThompsonPeter TianoJose TorresRuby TriceRonald TroyanDanielle TrumbauerRichard Van AllenPatrick Van WertMichael VanmaarenValerie VasquezDrew VogelWalter BaskinSteven Webb

Matthew and Jennifer WeberRussell WeedenKenneth WeissBruce WerthRichard WestRobert WetherbeeThomas WhittenRobert WilliamsSteven WilsonTravis and Rebecca WilsonDouglas WilwerdingLarry WirthCharles WiseMolly WithersJames Woerdeman

$ 1 0 0 , 0 0 0 A N D A B O V EWells Fargo Foundation

$ 5 0 , 0 0 0 - $ 9 9 , 9 9 9Life Investors, Inc. (AEGON)Union Pacifi c Foundation

$ 2 5 , 0 0 0 - $ 4 9 , 9 9 9AEGON Transamerica Foundation John Deere FoundationWells Fargo Consumer Credit

$ 1 0 , 0 0 0 - $ 2 4 , 9 9 9Caterpillar Foundation Eastern Finance Association Jacobson Transportation Jacobson Warehouse Company Principal Financial Group Foundation, Inc.

$ 5 , 0 0 0 - $ 9 , 9 9 9Kingland Systems

$ 2 , 5 0 0 - $ 4 , 9 9 9Caterpillar, Inc.

$ 1 , 0 0 0 - $ 2 , 4 9 9Accenture Foundation, Inc. Barr-Nunn Transportation, Inc. Cerner Corporation

Robert WolfRandy WoodburyMichael WoodsCraig YounggrenDerek Zaun

The College of Business also wishes to thank those individuals who have made provisions during the 2006-2007 academic year to support the college in their estates. These alumni and friends made revocable and irrevo-cable estate gifts totaling $10,838,279.

S U P P O R T F R O M C O R P O R AT I O N S A N D F O U N D AT I O N S

Federated Insurance Foundation, Inc. First National Bank–Ames Gerdin Truck and Leasing JKL Enterprises, Inc. Pioneer Hi-Bred International– Des Moines RSM McGladrey, Inc. S&C Resale Company Sigler Companies, Inc. Union Pacifi c Corporation

$ 5 0 0 - $ 9 9 9Auto-Owners Insurance DK Plastics Offi ce Systems Professionals of Central Iowa

$ 1 0 0 - $ 2 4 9First Mortgage, Inc. Geo-Don Enterprises, Inc. Mathew Greenwald & Associates, Inc. Wilwerding Contracting, Inc.


Annual Support for the College of Business/continued

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S U P P O R T F R O M C O R P O R AT I O N S A N D F O U N D AT I O N S


These companies have made match-ing gifts to the College of Business on behalf of their employees:

3M FoundationADP FoundationAlcoa FoundationAmeriprise FinancialAmerUs Group Charitable FoundationAnadarko PetroleumAnheuser Busch FoundationBandag, Inc.Baxter International FoundationDeloitte FoundationEaton Charitable FundEli Lilly and Company FoundationEmerson Charitable TrustExxonMobil Foundation

FBL Financial Group, Inc.First Data FoundationGMG FoundationH & R Block FoundationHarris Bank FoundationHormel Foods Corporation Charitable TrustIBM Corp-CTING FoundationIngersoll-Rand FoundationKey FoundationKimberly Clark FoundationKPMG FoundationKraft Foods CorporationLockheed Martin CorporationMay Department Stores Company Foundation

Meredith Corp FoundationMetLife FoundationMidAmerican Energy FoundationMotorola FoundationNational CityNationwide FoundationNike, Inc.Oklahoma Gas and Electric CompanyPactivPella Rolscreen FoundationPepsico Foundation, Inc.Pfi zer Foundation Matching Gifts ProgramPPG Industries FoundationPrincipal Financial Group FoundationProcter and Gamble Prudential Foundation

RBC Dain Rauscher FoundationRobert Half InternationalRockwell CollinsRuffaloCodySerono LaboratoriesSprint FoundationSyngentaTCF Financial CorporationTemple-Inland FoundationTime Warner, Inc.U.S. Bancorp FoundationVerizonWachovia FoundationWalt Disney Company FoundationWhirlpool FoundationXcel EnergyXerox Corporation USA ■

F A C U LT Y P R O M O T I O N S

Amrit Tiwana

received a promotion to as-sociate professor with tenure in the department of logistics, operations, and management information systems.

Rajshri Agarwal received a promotion to senior lecturer of marketing.

Scott Elston

was promoted to senior

lecturer of management. ■

The 2007 Faculty and Staff Awards Ceremony, sponsored by the Dean’s Advisory Council, was held in April. Honorees included:Ann Clem, senior lecturer of accounting, Junior Faculty Teaching Award

Jeffrey Kaufmann, assistant professor of man-agement, Junior Faculty Research AwardMichele Kohrs, administrative assistant, undergraduate programs, Merit Superior Service AwardStephanie Larson, academic advisor, Professional and Scientifi c Superior Service Award

Paula Morrow, university professor of management, Senior Faculty Research AwardKaren Terpstra, assistant to the dean, Professional and Scientifi c Student Impact AwardHoward VanAuken, Bob and Kay Smith Entrepreneurship Fellow, Senior Faculty Teaching Award ■

Faculty and Staff Honors / CONTINUED FROM PAGE 29

meetings in cities where clusters of our alums can be found, phone contacts, and many face to face meetings. A typical day finds Betsy and me driving to Des Moines to pick up John and head out to make pre-arranged calls. One such contact remains in my mind. It was a typical Iowa winter day—snow and slippery roads. Despite weather conditions, we arrive at our contact’s office at the pre-arranged hour, where we were kept waiting for a considerable length of time. Once we were seated, he uttered, “Okay, you drove

down here from Ames on ice and I have kept you waiting; how much do you want?” That day Chuck Muelhaupt, an ISU business alum, ex-Cyclone football player, and owner of the Des Moines Cold Storage Company, became a Founders’ Fund Fellow. How successful were our early efforts? In the college’s 1984-85 Annual Report, I reported that more than $1.3 million had been raised since the campaign’s launch. That seems like a pittance compared to the funds raised for the Gerdin Business Building, but we were also doing something that many aca-

demics looked down on in those days, but have now found to be a way of life. I feel a deep debt of gratitude toward Betsy Mayfield and John DeVries for the huge part they played in giving our program an important initial boost. At Betsy’s suggestion, I established the John D. DeVries Service Award, given each year to an individual who demonstrates outstanding service to the college. When one considers the time John took away from his own business, it hardly seems enough. But it was one way of saying thank you. ■

From the Desk of Founding Dean Charles HandyDR

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One student stands head and shoulders above the others. His name is John DeVries.

The time was the summer of 1959. I am assigned to teach cost accounting, a course I disliked as a student but learned to love as an instructor. My class is small, ten in number. One student stands head and shoulders above the others, and receives the only “A.” His name is John DeVries. Time marches on. It is the early 1980s. I am now the director of the new School of Business Administration. The school’s goal is to become a degree-granting col-lege, but in a time of state funding cutbacks, it is obvious that we must develop an external fundraising program to achieve our goal. Fate shines on us in the form of Elizabeth “Betsy” Mayfield, manager of the ISU Achievement Foundation’s special campaigns, who takes an interest in our program. Betsy suggests establishing an endowment for business. We entitled it the Founders’ Fund Society, with membership designations based on gift size: Associate Member ($500 to $999), Member ($1,000 to $4,900), Sustaining Member ($5,000 to $9,999) and Fellow ($10,000 or more). Another stroke of luck comes in the form of my former “A” student, John DeVries, now a successful Des Moines business owner. (It is wonderful what a course in cost accounting and an ISU business degree will do for you! Of course, business sense also plays a part.) John is grateful to our business program and wants to give something back. He is a natural to become the national chairperson of the Founders’ Fund Campaign. It is also the beginning of a long and lasting friendship. Development activities take the form of group

JOHN DEVRIES ADDRESSES THE AUDI-

ENCE AT THIS PAST SPRING’S REUNION

HONORING DRS. CHARLES HANDY AND

WILLIAM THOMPSON.


Craig A. Petermeier ’78, ChairPresident and CEOJacobson Companies

Ronald D. Banse ‘75Assistant General AuditorUnion Pacific Corporation

Raymond M. Beebe ‘64Vice President, General Counsel and SecretaryWinnebago Industries, Inc.

Kelley A. Bergstrom ‘65PresidentBergstrom Investment Management, LLC

Steve W. Bergstrom ‘79ChairmanArclight Energy Marketing

G. Steven Dapper ‘69Founder and Chairmanhawkeye | GROUP

John D. DeVries ‘59CEO, RetiredColorfx

Jerald K. Dittmer ‘80Vice President and Chief Financial OfficerHNI Corporation

David J. Drury ‘66Chairman and CEO, RetiredThe Principal Financial Group

David K. Ecklund ‘72Vice President, Client Services, RetiredCaterpillar Logistics Services, Inc.

Denise I. Essman ‘73President and CEOEssman/AssociatesEssman/Research

Beth E. Ford ‘86Chief Operating Officer, Executive Vice PresidentHachette Book Group USA

James F. Frein ‘67President, RetiredHutchinson, Shockey, Erley & Co

David C. Garfield ‘50President, RetiredIngersoll-Rand Co.

Russell GerdinChairman and CEOHeartland Express, Inc.

Isaiah Harris, Jr. ‘74President and CEO, RetiredBellSouth Advertising and Publishing, Inc.

Cara K. Heiden ‘78Division PresidentNational Consumer and Institutional LendingWells Fargo Home Mortgage

Daniel J. Houston ‘84Executive Vice PresidentPrincipal Financial Group

Richard N. Jurgens ‘71Chairman, Chief Executive Officer, and PresidentHy-Vee, Inc.

Daniel L. Krieger ‘59ChairmanAmes National Corporation

Cheryl G. Krongard ‘77Partner, RetiredApollo Management LP

Robert E. McLaughlin ‘60PartnerSteptoe & Johnson LLP

Timothy J. O’Donovan ‘68Chairman of the BoardWolverine World Wide Inc.

Kevin K. Prien ‘84PartnerMcGladrey & Pullen, LLP

David W. Raisbeck ‘71Vice ChairmanCargill, Inc.

Frank Ross ‘84Vice President- North America OperationsPioneer Hi-Bred International, Inc.

George H. Schaller ‘62ChairmanFNC, Inc.

Steven T. Schuler ‘73Senior Vice President and CFOFederal Home Loan Bank of Des Moines

Ned L. Skinner ‘74PresidentU.S. Coffee and Tea Company

Walter W. Smith ‘69Chief Executive OfficerITWC Polyurethane

John H. Stafford ‘76Vice President, Business Financial ServicesGeneral Mills, Inc.

Gary J. Streit ‘72PresidentShuttleworth & Ingersoll, P.L.C.

Jane Sturgeon ‘85Senior Vice President, CFO and TreasurerBarr-Nunn Transportation, Inc.

Jill A. Wagner ‘76Vice President of MarketingCablevision

AdministrationLabh S. HiraDean

Michael R. CrumAssociate Dean, Graduate Programs

Kay M. PalanAssociate Dean, Undergraduate Programs

Marvin L. BouillonChair, Department of AccountingChair, Department of Finance

Thomas I. ChackoChair, Department of ManagementChair, Department of Marketing

Richard F. PoistChair, Department of Logistics, Operations, andManagement Information Systems

Ronald J. AckermanDirector, Graduate Admissions

Steven T. CarterDirector, Pappajohn Center for Entrepreneurship

Ann J. Coppernoll Director, Undergraduate Programs

Jeremy D. GalvinDirector of Development

Amy R. GrauDirector, MBA Recruitment and Marketing

Soma MitraAcademic Fiscal Officer

James M. HeckmannDirector, Small Business Development Centers

Mark S. PetersonDirector, Graduate Career Services

Daniel J. RyanDirector, Marketing and Alumni Relations

Kathryn K. WielandDirector, Business Career Services

Dean’s Advisory Council

COLLEGE OF BUSINESS

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2200 Gerdin Business BuildingAmes, IA 50011-1350

NONPROFIT ORG.

U.S. POSTAGE PAID

AMES, IA

PERMIT NO. 200

Prospectus - Fall 2007

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