What should a modern business education encompass?
Innovation, Sustainability, Analytics Top List of Academic Strategies
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
Education is a truly transformative experience.
While it is incumbent upon our students to take advantage of the many wonderful opportunities they have here at UConn, we—the administrators, faculty and staff—have an equally formidable responsibility.
Education is never stagnant. We must be mindful of the changing business climate, tap the expertise and perspective of our business partners, and consistently deliver the knowledge and skills that our students require.
We must embrace change. This year the School of Business will adopt a new academic vision to guide us in our preparation of future entrepreneurs, executives and decision-makers.
In consonance with the University of Connecticut’s newly adopted academic vision, “Creating our Future: UConn’s Path to Excellence,” we have identified the following four areas for emphasis: creativity, innovation and entrepreneurship; sustainability and risk management; analytics and big data; and healthcare management and insurance studies. All are vital to economic growth and solving the world’s problems, be they personalized medicine and genomics, data management or protecting our planet. These areas of emphasis help focus our attention and guide our growth. They engage us with our business community. However, they do not mean we are turning away from the core functional education that our students seek and our business partners rely upon in the traditional areas.
At the UConn School of Business, we strive to be a globally-recognized provider of exceptional managerial and business leadership. We believe that academic excellence in a modern business education requires a global perspective. Our many goals include identifying and addressing business challenges and recognizing our role as a partner in the success of business development both in Connecticut and beyond. We believe our new academic vision will keep us sharply focused on those goals.
In this issue of UConn Business, we have the opportunity to introduce you to a very special family whose generosity will enable us to continue to invite the most deserving students to our ranks.
Denis ’76 CLAS, ’77 MBA and Brita Nayden ’76 have donated $3 million towards the new UConn Basketball Champions Center and for scholarships for student-athletes, with a very generous amount earmarked for School of Business students.
The School honors remarkable individuals by induction into the School of Business Hall of Fame. Denis Nayden has already earned this distinction. In this issue you will also enjoy reading about five of our remarkable alumni whose business accomplishments, character, and dedication to others have recently earned them similar recognition.
While each of their passions and stories is unique, I’m sure they share the mantra of alumna Amy J. Errett ’79 (CLAS), an entrepreneur, senior executive, venture capitalist and philanthropist. When asked how she accomplishes so much, she said: “Well, I don’t sleep a lot … I get up early and go to bed late, and I try to make every day count.”
Our Storrs campus is bustling with the addition of headquarters for the Connecticut Small Business Development Center, now located on the second floor of the School of Business. The CTSBDC provides free, confidential, business advising to entrepreneurs who are forming or growing a business. We certainly believe this partnership will be advantageous for our students, our university, and many businesses throughout Connecticut.
As the summer draws to a close, the School of Business faculty and staff are excited for this academic year. Always a busy time, this year it is even more so, as we usher in new programs in Human Resource Management and in Digital Marketing & Analytics, a rapidly growing field with tremendous employment opportunities.
Best wishes to all,
John A. Elliott Dean and Auran J. Fox Chair in Business
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Spring 2014)
Five luminaries of the business world were inducted into the UConn School of Business’ Hall of Fame on May 2 at the Hartford Marriott, surrounded by dozens of family members, friends, colleagues and admirers.
Inductees included James V. Agonis ’71, retired CEO and president of AirKaman Cecil, Inc.; Kevin A. Bouley ’80, president and CEO of Nerac, Inc.; Joanne L. DeBlasis ’76, ’83 MBA, president, Accident & Health Division, Navigators RE; Amy J. Errett ’79 (CLAS), CEO and co-founder of Madison Reed; and Lisa Klauser ’90, president, Shopper and Consumer Marketing, Integrated Marketing Services.
In addition to their remarkable and inspiring business careers, the inductees have all been leaders in their communities, said John A. Elliott, dean of the School of Business. The inductees spoke briefly about their career journeys and how UConn shaped both their professional and personal lives. They join more than 100 other alumni who have been recognized since 1993.
Retired CEO James Agonis Finds New Purpose In Helping Abused, Drug-Addicted Costa Rican Orphans
James Agonis ’71
Throughout his successful career, including serving as president of his own company, UConn alumnus James Agonis ’71, dealt with giants of the defense industry.
Ten years after his retirement, his focus has switched to abused and defenseless children, who are trying to establish a happy childhood in a Costa Rican orphanage.
“Most of the times when I visit the orphanage, I go out in the backyard and cry like a baby because of the horrible things these children have experienced,” said Agonis, who is the principal supporter of the Hogar Cuna orphanage.
Some of the 18 children who live there have been attacked by their own family members, have lost both parents in car crashes, or were born addicted to heroin.
“I pick them up and I hug them until I finally have to put them down because my arms are sore and I can’t do it anymore,” said Agonis, the retired CEO and president of AirKaman Cecil Inc. of Jacksonville, Florida.
With unwavering tenacity, Agonis earned a Bachelor of Science degree in accounting from the School of Business in 1971. It took him seven years to complete his degree because he often had to take semesters off to wait tables to earn enough money to pay for additional schooling. “I’m extremely proud of my UConn education,” he said. “UConn provided the foundation, and I’ll be forever grateful to its faculty and advisers for my success.”
Agonis and his wife, Glenna, presented a $100,000 gift to the Accounting Endowment for Excellence in the School of Business in 2011. “I have tremendous empathy for the student struggling with academics because of an after-school job,” he said. “It would be my dream to help someone like that get through school.”
With his finance and accounting skills, Agonis worked for the federal government and then spent 20 years with Kaman Aerospace Corp., a Fortune 500 company and defense contractor in Bloomfield, progressing to group vice president. He then formed his own company, AirKaman Cecil, a fixed-base operator managing the daily functions of an airport in Jacksonville, Florida. Customers included Boeing, Grumman, the Navy and Coast Guard. AirKaman Cecil experienced tremendous growth under Agonis’ leadership, which he credits to strategic management, innovative marketing and customer relations.
He and his wife now enjoy family, traveling, international big-game fishing and watching UConn basketball. Agonis also donated $125,000 to establish a scholarship fund named in honor of UConn women’s basketball Assistant Coach Chris Dailey.
“I have watched Chris Dailey for more than 20 years, and to me there is no better person in women’s basketball,” he said. “She’s the most selfless person, working in the background, being a mentor, coach and friend.”
Kevin Bouley’s Passion Is Promoting Connecticut’s Brainpower, Creativity, and Inventions
Kevin Bouley ’80
It was supposed to be Kevin A. Bouley’s moment in the spotlight.
But instead of highlighting his own professional achievements at the Hall of Fame Induction Ceremony, Bouley ’80, took the opportunity to praise some people he admires.
Alicia Echevarria ’13 (ENG), he said, is designing a new bridge column that is more resilient during earthquakes. Eric Sirois ’09 (ENG) is developing a trans-catheter, aortic-valve technology. And Michael Zilm (ENG) is creating biomimetic bone scaffolding. All three aspiring entrepreneurs are graduate students from UConn’s School of Engineering.
“There is an emerging culture of creativity, innovation and entrepreneurship taking root at UConn,” Bouley said. Partnerships between various disciplines and schools within the university are reaping amazing results.
“We need to leverage the state’s investment in our system of higher education and use it to build our economic future via new innovations,” he said. “The potential economic benefits of new technologies being commercialized in Connecticut… are enormous.”
Bouley is the president and CEO of Nerac, a research and advisory firm for companies developing innovative products and services. Based in Tolland, Nerac’s team of analysts address corporate concerns ranging from intellectual property strategies, to competitive business threats, and scientific reviews.
Bouley earned his Bachelor of Science degree in finance in 1980. He became vice president of Nerac in 1987, and maintained that position until acquiring the company 12 years later. Under his direction, Nerac has enjoyed strong growth, more than doubling in size.
Nerac has five times been named to the Deloitte & Touche prestigious Technology Fast 50 program for Connecticut, a ranking of the 50 fastest growing tech companies in the state.
Bouley is also an active “angel investor,” nurturing innovation, investing money and resources in start-ups, many of which are hosted within Nerac’s building. He works regularly with UConn’s School of Business and School of Engineering, alumni and members of the local business community to bring more business-development programs to fruition by connecting entrepreneurs and potential investors.
“I have reached an age where I care less about my resume and more about leaving a legacy to the next generation,” he said. “A critical component of this legacy is to inspire, teach and mentor students and other budding entrepreneurs in Connecticut.”
He envisions the Tolland business corridor, including UConn, as a regional destination and growing hub of entrepreneurial activity, drawing the best and brightest. He would also like to see a rebirth of manufacturing in the state.
Bouley has served on many technology and business associations, and currently serves on the UConn School of Engineering Advisory Board and the Connecticut Center for Entrepreneurial Innovation Advisory Board. He is a recipient of the UConn Alumni Association 2007 University Service Award and the UConn School of Engineering 2010 Distinguished Service Award.
Not only did UConn enrich his career path, Bouley said, but it is where he met his wife, Lorraine ’80. They have two daughters. Richter is a sophomore in the UConn School of Nursing, and Turner is a high school student.
Taking A Risk On Yourself May Bring Career Rewards Counsels Insurance Expert Joann DeBlasis
Joan DeBlasis ’76, ’83 MBA
If she could offer one piece of advice for new business graduates, Joann DeBlasis ’76, ’83 MBA, would tell them to take risks. “Taking on a new position, as scary as it might be, enables you to grow in your career,” she said. “Many people get stuck in a rut because they are afraid if they try something new, they will fail. My advice is to push for it.”
What makes her thoughts particularly striking is that DeBlasis has spent her professional career assessing and insuring against financial risk. The humor in those contrasting perspectives is not lost on her.
As a president at Navigators RE, a division of Navigators Management Co., Inc., DeBlasis is responsible for the accident and health division. She has enjoyed a lengthy career in the reinsurance industry, starting with Cigna in the early 1990s.
Her accomplishments include starting a health-reinsurance product line for three separate insurance companies, where she supervised all facets of administration, underwriting, pricing, marketing and financial management.
She has hired many people during her career and seeks a few key traits in a new colleague. “I want to work with someone who has a passion for what they do,” she said. “Equally importantly, they must have the ability to get along with other people. I think it is important to always be polite and treat people how you would want to be treated. That means being honest when something goes wrong and offering appreciation and recognition for success.”
DeBlasis earned a Bachelor of Science degree in accounting from the UConn School of Business in 1976. Although her guidance counselor pressured her to attend a different institution, she never regretted her decision to attend UConn.
Her college days, she said, were filled with wonderful experiences and lifelong friendships. She was joined at the Hall of Fame ceremony by four good friends from college, with whom she has shared all of life’s struggles and joys.She later earned her MBA from the UConn School of Business’ Hartford campus, attending classes at night while working full-time.
“It was extremely challenging to attend school in the evening after working all day,” she said. “But I thought it was important to earn my MBA. I knew it would lead to new opportunities.”
In 2012, she established a scholarship to benefit students at UConn’s Stamford campus. “I was very fortunate that I graduated from college debt-free because my parents were able to pay for my education. Some people graduate with huge debts. I decided to establish a scholarship to help others get through their education and pass along my good fortune.”
DeBlasis is a member of the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants. She lives in Connecticut and has two adult sons. In addition to spending time with family, DeBlasis enjoys golf, travel, fitness and gourmet cooking.
Unrelenting Optimism, Enthusiasm for Innovation Drive Success of Entrepreneur, Venture Capitalist Amy Errett ’79 (CLAS)
Amy J. Errett ’79 (CLAS)
To appreciate why Amy J. Errett ’79 (CLAS) is phenomenally successful in business, you first have to grasp her fearless enthusiasm for life. She describes herself as a “horseback riding, fly-fishing, black-diamond snowboarding, wine collecting, San Francisco Giants-loving Californian.” She also appreciates great food, nature and everything high-tech. She revels in trying something new.
“I come from an athletic, outdoor family; people who are real ‘doers.’ I like to travel, explore and enjoy nature and the outdoors,” she said. “I pretty much like to have a good time.”
Errett earned a Bachelor’s degree in Liberal Arts from UConn in 1979, and an MBA in finance from the Wharton School at the University of Pennsylvania in 1988. During her multifaceted career, she has worked as an entrepreneur, a senior executive, a venture capitalist, and as a passionate advocate for social change.
Before beginning her own business in February, Errett was a general partner and ran the San Francisco Bay-Area office of Maveron, a leading venture capital firm. She has also served as the CEO and as an owner of Olivia, repositioning the travel business as a complete lifestyle company. During her tenure at Olivia, she was named the Ernst & Young Entrepreneur of the Year for Northern California.
Errett also founded and served as CEO of The Spectrem Group, a worldwide strategic consulting, information and merger-and-acquisition advisory firm. After selling the company, she joined the senior management team at E*Trade, where she diversified the company’s business beyond brokerage, and ran a $200 million business that encompassed the company’s growth areas.
“I think the two threads that tie my career together are that I love to build great teams of people to work together, and I like innovation. I’m a fan of the latest app, the newest technology and the best electronics,” she said.
“I don’t worry about failing. Some people would call me blindly optimistic,” she said. “I think positive energy just fosters and creates good things.”
Her newest venture is Madison Reed, a company striving to transform the at-home, hair-coloring experience. Errett said she devised the company after her friends complained about the high cost of salon treatments and their concerns about the harsh chemicals in hair dyes.
The company, which launched in February, is named after her 11-year-old daughter. Madison Reed hair products contain no ammonia or harsh chemicals and the company employs 35 “on call” colorists who assist with everything from application techniques to selecting the right hair color.
Although she lives in California now, Errett is still a die-hard UConn sports fan. As a student athlete she played field hockey and dabbled in basketball. “I bleed blue. I’m a Husky forever,” she said. “Before each Final Four (basketball tournament), everyone counted us out. Look where we are today—and the best is yet to come!”
In addition to her family, work and hobbies, Errett is deeply committed to humanitarian work. She chairs the Board of Directors of Glide, San Francisco’s largest non-government social services organization. “If we don’t look out for each other in this world, who will?” she said. “I think giving back is critical. It makes you a better leader and a better person.”
When asked how she manages to accomplish so much, Errett laughs. “Well, I don’t sleep a lot,” she said. “I also have a phenomenal assistant. I’m very focused on time management. I get up early and go to bed late, and I try to make every day count.”
Consumer Expert Lisa Klauser ’90: Resilience, Dissatisfaction with Status Quo Will Propel Students to Success
Lisa Klauser ’90
Lisa Klauser ’90 will tell you she’s living the American dream.
As president of Consumer and Shopper Practice for Norwalk’s Integrated Marketing, she supervises a team of 200 and works with well-known clients such as People magazine, Energizer Personal Care, Hillshire Brands and Barilla.
“I came to UConn planning to be a Spanish teacher,” Klauser recalled. “I tried a business course, and that was a game-changing moment for me. I loved the competitive side of American business. UConn gave me everything I needed to begin my journey.”
She credits her parents for giving her the values that have served her well. Her father only had an 8th grade education and sometimes worked three jobs to support the family. He taught her the value of hard work, dependability and always doing the right thing. Her mother bestowed on her the gift of confidence.
“I’ve lived the American dream, but I think it is still unattainable for many,” said Klauser, who worries about the growing gap between the middle class and the poor.
Klauser has served on the Board of the University of Connecticut Foundation since 2012, and as she watches the next generation of students pass through the University, she experiences both a sense of excitement and caution.
“I want to instill the entrepreneurial spirit into students. We are blessed to have the most amazing university right in our backyard. The university has invested in high-caliber faculty, innovative programs, and its courses are well-geared toward the business world. Hopefully UConn will shape the future of the next generations.
“For our young adults today, I believe the most important thing they need is resilience. This is a challenging time in our country and in business,” she said. “It is important to be able to pick yourself up, reinvent yourself, and keep pursuing your goals, while still maintaining a strong moral compass and your integrity. I hope they carry a restless dissatisfaction with the status quo.”
Klauser earned a Bachelor of Science degree in marketing from the School of Business in 1990. She began her career at Nestle Foods, and later worked at Kraft Foods. She then spent 19 years at Unilever, most recently serving as vice president of Consumer and Customer Solutions for North America.
One of her passions is helping women in the workplace. She served on the Board of Directors of the Network of Executive Women for the Grocery Manufacturers Association of America. She also led the Women’s Interactive Business Network at Unilever. She has served as the vice chair for the Promotion Marketing Association.
Klauser was inducted into the Shopper Marketing Hall of Fame in 2012 and was named as one of the Top Women in Grocery in 2010 and 2011. In 2013, she was selected as one of Ad Age’s Top Women to Watch. She resides in New Jersey with her husband, Rick, and two teenage children.
New Digital Marketing & Analytics Major Reflects Emerging Communication Trends
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
The rapidly rising demand for digital marketing expertise and the accompanying explosion in job openings has prompted the School of Business’ Marketing Department to offer a new undergraduate major in Digital Marketing & Analytics at the Stamford campus.
Digital Marketing & Analytics students will learn how to use marketing analytics to gain insights into consumer behavior and to develop digital marketing strategies. The major takes a comprehensive approach that covers all aspects of marketing and includes developing strategies for creating, branding, and positioning digital products and services; dynamic pricing, digital distribution, social media and digital communication; and integrating digital marketing into a firm’s overall marketing strategy.
The new major supplements a certificate in Digital Marketing & Analytics, already available for business students at Storrs, and a minor in Digital Marketing & Analytics, offered to non-business majors at the Storrs, Hartford, and Stamford campuses.
“This will put our students on the frontier of marketing,” said Robin Coulter, professor and head of the Marketing Department at the School of Business. “There is tremendous excitement among students, faculty and the business community. We’re very enthusiastic about the curriculum and the abundant opportunities that await students who pursue these fields,” she said.
In fact, a quick check of the job-hunting web site Indeed.com found 25,000 marketing jobs, many requiring digital media and analytical expertise, all within 50 miles of the Stamford campus.
Lee Manning, human resources director for Coca-Cola Northeast, said the company recruits employees with digital marketing and analytics skills. “The world is changing at a very quick pace,” Manning said. “People have to keep up with the different types of communication. It is important to be quick and nimble in business today, and to stay ahead of the curve.”
For instance, Coca-Cola recognizes the importance of the growing Hispanic market and employs digital marketing experts to explore how its beverages are viewed by those consumers, what questions they may have, and the best way to target information to that consumer demographic.
Proficiency in marketing analytics is rapidly becoming a requirement for many marketing positions and the ability to use analytics to inform marketing strategy is central to leading marketing organizations. Graduates who can strategically use digital analytics to gain and act on insights into consumer search, decision making, purchase activities, and the success of marketing activities are increasingly in demand.
Bernard Gracy Jr. ’85 (ENG), vice president of strategy, Digital Commerce Solutions at Stamford-based Pitney Bowes Inc. said every company today either has to have a digital marketing strategy—or face extinction.
Pitney Bowes is a global technology giant that provides shipping and mailing solutions, data management and engagement software and location intelligence for two million customers, including 90 percent of Fortune 500 companies. It employs 16,000 people.
Gracy said Pitney Bowes used to receive calls from businesses, asking advice on the best location to open a storefront, or the ideal location for a new bank branch. They still do.
“But now what they want is to go global,” he said. “They have globalized digital storefronts that reach consumers around the world. They may want to do business with customers is Botswana, Estonia, Lithuania,” he said. “Digital marketing has never been more important. At Pitney Bowes, we are going through explosive growth.”
The School of Business faculty envisions graduates using their digital analytics and strategic marketing skills in traditional consumer and business-to-business marketing and sales organizations, social media organizations, online firms such as Amazon.com, as well as startups.
Although a general business major has been offered in Stamford for many years, this is the first specialized marketing major offered on the campus and joins the recently launched majors in Financial Management and Business Data Analytics.
“The Digital Marketing & Analytics major concept in Stamford makes incredible sense. Digital media is growing rapidly and the greater Stamford area is becoming a mini mecca for production,” UConn marketing professor Kevin McEvoy said. “We are very central to the marketing and advertising hubs of the world. There are numerous opportunities nearby.”
Meanwhile, students in communication sciences, professional sales leadership, economics and statistics, as well as graphic designers and digital media and design majors are expected to seek the digital marketing and analytics minor.
Approximately 18 percent of the students enrolled in the UConn School of Business are marketing majors.
The Digital Marketing & Analytics major will be available to undergraduate students in Stamford in Fall 2015.
Connecticut Small Business Development Center Opens UConn Storrs Headquarters
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
The sudden death of her father was a horrible personal tragedy for Dorothy Carlone’01 MBA and her family. But for the 14 dedicated employees at General Machine Co. in Berlin, pain mixed with panic, knowing that the company Walter Grzegorzek founded might not survive without him. Continue Reading
This article first appeared in the UConn Business magazine, Volume 4, Issue 3 (Summer 2014)
Faculty & Research
Tim Folta, professor and Thomas John & Bette Wolff Chair in Strategic Entrepreneurship, was named editor for an upcoming 2016 issue of Advances in Strategic Management on the topic of “Corporate Strategy and Resource Redeployment.” Folta was also appointed to the editorial board of Strategy Science and accepted as a fellow to the University of Strasbourg Institute for Advanced Study.
Hongju Liu, assistant professor of marketing, presented a research seminar on advertising spillovers in the pharmaceutical industry on May 2 in the School of Business.
Bill Ross, professor and ING Global Chair, along with co-authors Saerom Lee (University of Texas at San Antonio) and Karen Page (Penn State), were recently published in the Journal of Consumer Research for their research on the roles of empathy and justice in charitable giving.
Data released by Academic Analytics for the 2009-2013 period places UConn’s Management Department in first place (tied with Penn State) in per capita scholarly productivity. Known as the Faculty Scholarly Productivity Index, this ranking considers the research activity of 186 universities nationwide.
The Association for Information System’s (AIS) Senior Scholars’ Basket of Journals ranks UConn’s Operations & Information Technology Department in the top 15 schools worldwide for research productivity over the last five years and 10th in the top two premiere journals alone.
Faculty members retiring from the School this year include Walter Dolde, Linda Klein, Gim Seow and Jim Sfiridis.
Programs & Initiatives
The MS in Business Analytics and Project Management (MSBAPM) Program has been listed among the most prominent big data and analytics degree programs by BI Software Insight.
The School was recently recognized by Insurance News Net for its adaptability to the job market in expanding business programs at UConn Stamford, as well as strengthening its ties with the business community.
Fiserv, Inc., the Savings Bank of Danbury, and Greylock Federal Credit Union have partnered with the Financial Accelerator to develop a business case for enhancing the millennial banking experience through leading-edge technology from Fiserv.
IBM is partnering with the School as part of a nationwide education initiative to help expand and launch new curricula, as well as provide students with business knowledge and IT skills for data intensive careers.
The Financial Management undergraduate major at UConn Stamford has been accepted into the CFA Institute’s University Recognition Program, offering students exclusive support from institute member companies such as Barclays, CreditSights, and Atlantic Asset Management, including access to a wide array of research and financial analytic tools.
The School’s Connecticut Information Technology Institute (CITI) at UConn Stamford has been authorized to provide project management certification training for veterans and other eligible U.S. Department of Veterans Affairs beneficiaries.
The School’s Volunteer Income Tax Assistance (VITA) Program completed its 14th consecutive year with 68 student volunteers assisting 650 taxpayers in completing their income tax returns. The IRS-sponsored program provides free tax assistance and tax return preparation services for individuals who are economically disadvantaged, as well as for international students and scholars.
UConn’s new research partnership in sustainable energy with the Technion-Israel Institute of Technology was awarded a supporting gift from the Satell Family Foundation, founded by Ed Satell ’57.
The School has joined a newly formed Military & Veterans Employer Resource Group (ERG), a collaboration of employers, institutions of higher education and veteran groups dedicated to veteran-centered topics in the workplace, including deployment, resume sharing and buddy programs.
On June 25, the Board of Trustees approved a Master of Science degree and Advanced Business Certificate in Human Resource Management beginning fall 2014.
As of July 1, the Full-time MBA Program and Graduate Career Center have officially moved from the Storrs campus to the Graduate Business Learning Center in downtown Hartford.
Student Achievements
Two UConn teams (out of 200 entrants) placed in the 2014 Connecticut Business Plan Competition: UConn Stamford undergraduates Karlian Brown and Christian Tovar won three months of free co-working space in the Stamford Innovation Center; and Michael Maczka ’14 MBA won a $500 grant for Best Oral Presentation and $2,500 in legal services.
Doctoral student Margaret Luciano (management) was awarded a Society for Human Resource Management Foundation (in partnership with the HR Division of the Academy of Management) Dissertation Grant for 2014 to support her dissertation research.
Recipients of the 2014 Departmental Ph.D. Student Teaching Awards include: Biyu Wu (accounting); Yihong Xiao (finance); Wonseok Choi (management); Selcan Kara (marketing); and Gang Wang (OPIM). Wang also received the School’s Outstanding Ph.D. Student Teaching Award. Margaret Luciano (management) received the 2014 Outstanding Ph.D. Program-wide Student Scholar Award.
Event Roundup
On April 8, the MS in Business Analytics & Project Management Program hosted a career fair in Hartford with representatives from 10 companies and more than 60 students participating.
On April 24, the Accounting Department hosted more than 300 guests at its annual honors banquet and awarded 157 student scholarships.
On May 1, the 12th annual Real Estate awards banquet honored 28 students, alumni, faculty and businesses for their outstanding contributions and achievements.
On May 22, UConn Stamford hosted the first International Haitian Diaspora Summit on Education and Business to promote education, business and cultural exchanges between the State of Connecticut and Haiti.
On June 18, the School, together with Vichara Technologies, hosted “How Technology Can Drive Your Performance Edge,” a 100 Women in Hedge Funds® event at the Stamford campus.
In Memoriam
Ernest A. DiMattia, Jr. ’81 MBA, former faculty member of the UConn School of Business and president and chief executive officer of The Ferguson Library in Stamford, Connecticut, passed away on June 28, 2014.
The Canary in the Coal Mine for Veteran’s Disability Compensation
On August 7th, 2014, the Congressional Budget Office released a report entitled,Veterans’ Disability Compensation: Trends and Policy Options. The ranking member of the House Veterans Affairs Committee (HVAC), Rep Mike Michaud (D-ME) requested the report. The purpose of the report is to develop proposals to reduce payments for disability compensation for veterans, in response to “budgetary pressures.” The report itself is incomplete – amazingly, absent from the CBO report’s proposals is “Don’t enter into long-term wars of aggression under false pretenses” – that is the first way to reduce disability compensation payments. Curiously, the CBO does not offer as a way to pay for the disability compensation of disabled veterans repealing the Bush tax cuts of 2001, and 2003, which cost the country more than $2.2 trillion in tax revenues from the wealthiest people in the country. In truth, there are no budgetary pressures; there are only political pressures from constituents who don’t want to pay for the sacrifices of veterans who fought for their freedom and to defend the Constitution.
The report begins with a summary of how veterans disability benefits payments have changed since 2000. To wit, the report mentions that the number of veterans receiving disability benefits from the Veterans Benefits Administration (VBA) has increased from 2.3 million to 3.5 million, while disability compensation payments have increased from $20 billion per year in 2000 to $57 billion per year in 2013. Although the report recognizes that our nation has been at war in two countries for more than a decade, the report fails to correlate the increase in disability benefits to the actual increase in veterans of the wars in Iraq and Afghanistan accessing the Veterans Administration system for health care, and applying for disability benefits; or to the severity of disabling conditions those veterans with which those veterans are returning.
The non-partisan veterans advocacy group Veterans for Common Sense did a Freedom of Information Act for the quarter ended on March 31st, 2014. As of that date, more than 2.6 million Americans have served in Iraq and Afghanistan from 2001. More than 2 million are in the VA system, and more than 1 million have sought healthcare through the VA. Of the more than 1 million veterans seeking healthcare, more than 969,000 have filed claims, more than 890,000 claims have been adjudicated, more than 875,000 have a service-connected disability, and finally, more than 816,000 are receiving disability benefit compensation.
A casual back-of-the-envelope calculation will show that the VBA has increased its rolls by 1.2 million. A second casual back-of-the-envelope calculation will show that nearly 75% of the increase of veterans receiving disability benefits are veterans of the so-called Global War on Terror. The VA has a demographic projection that the veteran population in the US will decline by 33% by 2040 to 15 million from a current 22 million total. This is an important consideration when the CBO proposes implementing a “statute of limitations” on submitting a disability claim, or implementing a lifetime cap on disability compensation.
This report comes at a most inauspicious time. In the very recent past, Secretary of the VA General Eric Shinseki was forced to resign over the ongoing scandal that has engulfed the agency. Indeed, this recent article at the National Journal “The VA Scandal Just Keeps Spreading,” shows that the scandal is systemic, that more than 100,000 veterans have been systemically denied access to healthcare without due process in violation of their constitutional rights per the 9th Circuit Court decision, and veterans are dying while waiting for healthcare.
The optics of this report are terrible. In February 2014, Republicans in the Senate filibustered the Veterans Omnibus Bill, effectively killing it, despite the bill being endorsed by 20 major veterans organizations. The bill would have cost $21 billion over 10 years, and provided for infrastructure improvements, opening new Vets centers, and hiring healthcare professionals and staff. In attempting to justify their “no” votes, Senator Richard Burr (R-NC) of the Senate Veterans Affairs Committee said “That is more money we were going to spend that we haven’t spent, that we never had because we were borrowing it.”
Then the scandal broke in the spring, and the politicians scrambled to do something. They resurrected the Veterans Omnibus Bill, re-named it the Sanders-McCain Veterans Bill, and passed it in June. Three republican senators voted against, it, Bob Corkey (R-TN), Ron Johnson (R-WI), and Jeff Sessions (R-AL). Senator Sessions (R-AL) put the cost-benefit analysis explicitly, “I feel strongly we’ve got to do the right thing for our veterans. But I don’t think we should create a blank check, an unlimited entitlement program.” The bill was passed by the HVAC and the House – their last vote prior to the August recess – and signed into law by President Obama on Aug 7th – interestingly, the same day the CBO report was released.
Virtually at the same time, the Iraqi Army has collapsed, in the face of the onslaught by the terrorist organization ISIS; and an Afghan soldier murdered the US Army major general who responsible for the training of Afghan security forces. Former President Bush stated his gambit for winning the wars in Iraq and Afghanistan “And that is why we are on the offense. And as we pursue the terrorists, our military is helping to train Iraqi security forces so that they can defend their people and fight the enemy on their own. Our strategy can be summed up this way: As the Iraqis stand up, we will stand down.”
These events may appear to be unconnected, but to the contrary, they are profoundly connected. This series of events is a twin scandal and crisis. First, our country’s leadership manifests a failure of political will to win wars. Our elected politicians have essentially come up with a way to “outsource” winning wars to third country labor, similar to corporations that outsource manufacturing to lowest-cost labor countries; this is politically palatable to the electorate and creates political capital for the politician to be re-elected as a “war-time” politician. At the same time, no one has questioned the risk involved in trusting our nation’s geopolitical strategic interests with non-American troops whose motivations and interests are very very different from our own. In short, trusting third-country national troops to fight and win our wars is a recipe not just for losing, but for disaster. It was a failure in Viet Nam, it is a failure in Iraq, and it is failing in Afghanistan.
Secondly, and at the same time, those same politicians now express a failure to live up to President Lincoln’s words in his 2nd Inaugural address, which have since become the VA’s motto “to care for him who shall have borne the battle and for his widow, and his orphan.” Without the Bush doctrine, there would be no Iraq war, and there would be no strategy ‘as they stand up, we will stand down.” Had the American electorate been told the truth about the wars, hundreds of thousands of Americans and American families would not now be living with the long-term health effects of disabilities incurred as a result of service in Iraq and Afghanistan. The Iraq war has been estimated to cost $3 trillion dollars (this just happens to be the same amount the Bush tax cuts cost us) by the Nobel-prize winning economist, Joseph Stiglitz and economist Linda Bilmes. If the VA is fully funded every year, for the next fifty years, the cost for caring for the veterans of Iraq and Afghanistan will be $1 trillion a decade for the next five decades. To add insult to injury, recent reports from the University of Minnesota and from Feeding America, show that 28% of veterans and military families now rely on food assistance programs; while at the same time, the HVAC is asking for, and the CBO is offering policy proposals to reduce disability compensation payments.
Put it all together, and our nation is in real trouble. Our politicians no longer have the political courage to win wars, no longer have the will to pay for the care of veterans of our wars, and have inoculated the rest of the country from the true cost of war. Outsourcing wars, training foreign armies to fight our wars, refusing to pay the healthcare and disability costs of the veterans of those wars, shielding the 99% of civilian population from the costs of war for political efficacy is a recipe for disaster. It is a recipe for empire. It is a recipe for perpetual war.
The CBO report is the canary in the coal mine. They are looking for ways to reduce the costs of caring for veterans with disabilities who served in the longest wars our nation has fought, in Iraq and Afghanistan. As the military downsizes through 2020, and more than 1 million veterans leave active service by the end of the decade, the politicians will continue to try to find ways to “respond to budgetary pressures” by taking out those pressures on the less than 1% of Americans, fewer than 3 million total, who served and sacrificed for more than 310 million American citizens. Politicians have come up with a way to outsource wars and build political capital with the American electorate, and effectively inoculate the American taxpayer from the true costs of the war. As well, this toxic combination combines to create a disincentive for Americans to take the oath of service. There is no upside if our nation’s politicians consider veterans usable assets, and once the veteran is no longer military useful, veterans are on their own for any disabilities that they may suffer in combat.
All Americans should agree that it is morally wrong and a betrayal of the social and legal obligation that the nation has to its veterans, to respond to “budgetary pressures” on the backs of the less than 1% of Americans who have served and sacrificed in defense of the Constitution. George Washington wrote in 1781 to the first governor of CT Jonathan Trumbull, “Permit me Sir to add, that Policy alone in our Present Circumstances, seem to demand that every Satisfaction which can reasonably be requested, should be given to those Veteran Troops who, ‘thro almost every Distress, have been so long and so faithfully serving the States . . .” That intent remains as fresh and immediate today, in light of the present VA scandal and the explicitly stated unwillingness to pay for veterans disability benefits, as when it was written. Service in defense of the Constitution is special. Veterans are truly the best and brightest our nation has to offer in its defense. There is no such thing as budgetary pressure, only what our nation is willing to pay for, and what it’s not willing to pay for. If our nation is not willing to pay for veterans, this two-centuries-old experiment in democracy will not last.
The UConn School of Business is proud to introduce its inaugural class for the Graduate Programs in HR Management. 24 students have been admitted into the MS HRM program, and five students in the ABC HRM certificate program. The MS HRM students will be joining our HRM team in Hartford on Friday and Saturday, August 22-23, for our in-residence program kickoff. The weekend will consist of special guest speakers, including Dean John Elliott, industry speakers, and program faculty that also serves as the launch for the cornerstone course, Business Acumen and Strategic Human Resource Management. Greg Reilly, Academic Director of the Graduate Programs in HRM, will be leading the event. Other special guests include Susan Spiggle, Chair of the Management Department; Peter Diplock, Assistant Vice Provost for eCampus; and Suresh Nair, Associate Dean of Graduate Studies for the School of Business.
Westport News – With the state’s annual sales tax holiday for clothing and shoes set to begin Sunday, retailers are gearing up for eager shoppers hoping to save a few bucks.
(5/8/2014) – The 12th Annual Real Estate Awards Banquet was held at the South Campus Ballroom on Thursday, May 1. The special occasion recognized outstanding students, alumni, and scholarship recipients.
The following alumni and students were recognized for their achievements:
Lifetime Achievement Award: Daniel Ferraina, Ferraina Companies
Distinguished Alumni: Michael Riccio, CB-Richard Ellis Capital Markets
Alumni of the Year: Bradford Wainman, Simon Konover Development Corp.
Early Career Alumni: Kelsey Rath, Talcott Realty Investors, LLC
Organizational Partner: Greater New Haven Association of Realtors
Excellence in Research: Professor Carmelo Giaccotto and Professor Thomas Miceli
Students of the Year: Frances (Frankie) Gibbons and Andrew Kelly
Other student award recipients included: Nicolas Chapman, Tyler Cormier, Julia Dumaine, Andrew Harney, Scott Howard, M. Connor Lyman, Matthew McCandless, Cole McQuilken, Johncarlo Morales, Benjamin Napoli, Bridget O’Malley, Laura O’Malley, Ryan Powers, Peter Rodriguez, Colby Schaefer, Austin Smyth, Melissa Touger, Kristine Victor, and Hui Zhang.
The School of Business has relocated its Full-time MBA program to Hartford, a move that will give students more professional opportunities as well as the chance to learn alongside other UConn graduate students.
“We are thrilled that the UConn Full-time MBA will be part of the Hartford business community, allowing for the program to continue its tradition of providing excellence in graduate education,” said Rajendra Shirolé, director of UConn’s Full-time MBA program.
In the past, the students took their first-year courses in Storrs and completed the program in Hartford and sometimes Stamford. The dual campus set-up wasn’t popular with MBA students.
“The biggest reason for the move is to put first- and second-year students together,” said Professor Mary Caravella, who chaired a task force that recommended the consolidation.
“We chose Hartford because we wanted to put them together with students from the part-time and specialized masters’ degree programs. By working together, on the same campus, it gives them all the means to be successful.
“Both Storrs and Hartford are great locations, each with many strengths,” Caravella said. “But Hartford offers both close and broader connections with the business industry, and will certainly help our students with job placement.”
The program will be housed in the Graduate Business Learning Center in downtown Hartford, and its new offices can be reached at (860) 728-2440.
“This is a positive move on multiple fronts, including networking among all graduate business students and also engaging with alumni and employers in the Hartford area,” said Meg Warren, assistant director of the Graduate Career Development Office (CDO). “Our students are excited about it. There’s now an opportunity for the Full-time MBAs to network with professional students in the Executive and Part-time MBA programs as well as the MS in Business Analytics and Project Management and MS in Financial Risk Management programs.
Warren has met with representatives from Cigna, Aetna, Prudential and more, and all are pleased that the Full-time MBA program will be housed so close to their workplaces. In addition to hosting corporate information sessions and interviews in Hartford, the CDO and MBA Program Office work closely with the School of Business Alumni Relations Office which offers a number of alumni networking events running from August through March. Warren said, “Having the Full-time MBA Program in Hartford makes it much easier for students to attend these important programs where they can connect with alumni from target companies they want to learn more about. Building relationships with our School’s alumni is a vital part of our program.”
Alumni and other executives can visit for coffee, lunch, or for more structured programs in the evenings that will interest all graduate business students. Meanwhile the Full-time MBA students can easily go on corporate site visits from the downtown campus. “Overall, the employer’s ability to engage with our students has just become a lot easier. Storrs may only be a forty-minute drive, but it’s much easier for a hiring manager or an alum to have morning coffee before the workday begins or come by the GBLC for their lunch hour than it is to ask them to take a half-day from work to venture out to Storrs,” Warren said.
“From the moment they arrive, we tell our students that networking is critical for an effective job search. Students must start having conversations with people from industry or job functions that interest them,” Warren said. “This is necessary as 75-80% of jobs are filled as a result of networking. Being in Hartford allows us to offer more built-in opportunities for student and employer engagement.”
With the arrival of the new academic year, the School of Business is hosting an Alumni and Student Networking Reception at 6 p.m. Aug. 21 at the Society Room of Hartford, 31 Pratt Street. Melinda Brown, ’77, ’85 MBA, senior vice president and corporate controller for Coach Inc. will be the guest speaker. Brown joined Coach Inc. in 2012, after a 29-year career with PepsiCo.
