maine business school mbsconnects

Orono, Maine • Winter 2010 • Volume 3, Issue 2

Rachel Hathaway ’11 Interns at Grameen Bank in Bangladesh and India

Maine Business School student Rachel Hathaway ’11 is determined to make adifference in the world.

After reading about Grameen Bank, an organization started in Bangladesh in 1983to bring financial services to poor, rural women in undeveloped countries, shedecided that replicating the model could be an integral component in the fightagainst social inequity and poverty. After spending last summer in Bangladesh andIndia as an intern with Grameen Bank, she came away convinced that it would beher life’s work.

“The story of Grameen Bank is powerful and inspirational,” said Hathaway, asingle mother earning a dual degree in financial economics and businessadministration.

Located in Bangladesh with replication projects in more than 100 countries aroundthe world, Grameen Bank is based on the idea of microfinance or extending loanopportunities to poor people – mainly women – so they can become self-sufficient.Owned by the poor borrowers of the bank, Grameen doesn’t require collateral andbelieves that credit is a basic human right, that all people are endowed with limitlesspotential, and that the poorest of the poor – those without land or assets – shouldreceive the highest priority in obtaining loans.

continued on page 6

From the Dean

Winter has settled in here in Orono.All of us here at MBS hope you

and those you love had a wonderful,warm holiday season.

There is much for us to be grateful forin the new year and this issue is burstingwith stories of how students and facultyare shaping the communities where theylive and work around the world.

You’ll read about Rachel Hathaway’sremarkable internship in Bangladeshand about MBS students who have beeninvolved in a project with the town ofOrono. You’ll learn about PaujoBornstein ’06 who is working inCambodia, Rebecca Hawkins ’09 whohas worked and studied in Spain,England and Turkey, and Anh Do ’08who is working in London. And you’llfind out about MBA students whoreported to the Maine Tourism AdvisoryCommittee about their study of eco-tourism in Brazil last May. All of thesestudents give evidence to our theme atMBS– “expect the world” and they arerepresentative of many many others.

Also in this issue, you’ll read aboutthree of our faculty–Natalie Steiger,Terry Porter, and Scott Anchors – andwhat they are doing in and out of theclassroom to engage students. This isonly a very, very small view of theirdevotion to students and to the learningprocess that is shared by all of our col-leagues here.

This issue is packed with good news.SPIFFY was honored by the Universityof Maine Foundation at the Foundation’sannual meeting last fall. MBS was select-ed for the second year in a row by aninternational committee in Paris asamong the best in the world (to be pre-cise–in the top 3% of business schoolsworldwide). And, thanks to the efforts of

continued on page 2

Maine Business School www.umaine.edu/business

visit us on-line at www.umaine.edu/mbsnews

Rachael Hathaway (right)

MBSConnects

2 Maine Business School

MBS Achieves 100%Membership Acceptancein International HonorSociety

The Maine Business School has a lotgoing for it. The oldest internation-ally accredited business school in

Maine, the MBS was ranked in the top 200business schools in the nation for twoyears in a row and is among 1,000 schoolsworldwide to be commended byEduniversal’s International ScientificCommittee.

The MBS has distinguished itself in yetanother way.

Over the last decade, it has achieved100% membership acceptance rate in BetaGamma Sigma, the international honorsociety recognizing excellence in businessprograms accredited by AACSBInternational – The Association toAdvance Collegiate Schools of Business.That is, each of the Maine Business

MBSNews

School of Economics and Maine BusinessSchool Receive $1.8 Million Grant

The University of Maine will partner with businesses and communities innorthern and central Maine as part of a new, three-year economic developmentprogram funded by a $1.8 million federal grant awarded last fall to the School

of Economics and the Maine Business School.Through the “Knowledge Transfer Alliance,” UMaine faculty, staff and graduate

students will provide various types of assistance to businesses and communitiesincluding help with marketing, accounting, finances, tourist-related businessdevelopment, and cultural development.

“Our plan is to integrate our efforts with local economic development agenciesand chambers of commerce,” said Professor George Criner, director of the School ofEconomics and a principal investigator for the grant. “Some agencies have businessvisitation programs and we want to coordinate with them. Now is not the time toduplicate efforts. We can coordinate with local agencies and chambers to see whichmay want some assistance to survive or expand. We can then assess their needs anddesign a team to help them.” Half a dozen businesses already have requestedassistance, he said.

Joining Director Criner as principle investigators are Dean John Mahon of theCollege of Business, Public Policy and Health and director of the Maine BusinessSchool, and Hugh Stevens, former graduate student and director of the School ofEconomics’ Office of Special Projects. Dean Mahon will help coordinate businessfaculty project participation, as well as bring his wealth of strategy and planningknowledge to bear as faculty teams advise businesses.

The Advanced Manufacturing Center will assist businesses to investigateengineering needs and develop and design solutions. Cooperative Extension will helpwith micro-enterprises and community economic development, among other areas.

“The University of Maine wants to help grow jobs, expand businesses, and turnaround the economic climate,” Professor Criner said. ▲

School’s juniors, seniors, and graduatestudents who have been invited to jointhe elite group has accepted. Currently, 32students belong to the UMaine chapter;on average, 27 students are inducted eachyear.

“Membership in Beta Gamma Sigma isthe highest recognition a business studentanywhere in the world can receive,” saidProfessor of Management Natalie Steiger,advisor for UMaine’s chapter.

“It’s a feather in our cap to haveachieved 100 percent membership.”

“Your acceptance rate … indicates achapter where academic excellence is val-ued and where the faculty officers of thechapter work diligently to enhance BetaGamma Sigma’s stature on campus,”Vicki Klutts, executive director of theMissouri-based organization, wrote toJohn Mahon, dean of the College ofBusiness, Public Policy, and Health anddirector of the Maine Business School.

Nearly 1,000 students have belonged tothe UMaine chapter since it was organ-ized in 1975.

To qualify for membership in BetaGamma Sigma, seniors have to be in thetop 10 percent of their class, juniors in thetop 7 percent, and MBA students in thetop 20 percent. Each year the UMainechapter holds a meeting that includes aninduction ceremony and a presentationfrom a professor, community businessleader, or successful alumnus. Also at theannual gathering, a $1,000 scholarship isawarded to a student based on his hergrade point average and faculty recom-mendations.

Stefan Lange, a senior accountingmajor who received the 2009 Beta GammaSigma scholarship, said membership inthe group “will really enhance myresume.

“Employers will recognize member-ship in Beta Gamma Sigma as somethingspecial.”

Professor Steiger said she enjoys guid-ing the group and getting to know theseoutstanding students. “It’s very uplifting.I’m blown away by what so many of themhave accomplished.” ▲

Dean from page 1Dr. George Criner and Hugh Stevens,MBS received a $1.8 million grant foreconomic development in Maine.Aiming to help individuals buildtheir skills and talents so they cancontribute to improving the econo-my, the school is offering 25% tuitionscholarships to our MBA program tograduates from any college or univer-sity in Maine in 08, 09, and 10.

There’s a story noting that lastsemester we were graced with thepresence of Hollywood film producerLawrence Bender ‘79 who gave all ofus a message that we need to hearover and over again. And there’sinformation about one of our own,Jon Sorenson '86, a member of theMBS advisory board, who washonored with the Marcus UrannAward for his leadership andsupport of both the MBS and theUniversity to aid economicdevelopment in Maine.

Also in this issue is a story aboutour continuing need for internships.

Please stay in touch! We need tohear from you to learn of your suc-cesses and to be informed of yourviews of YOUR business school. ▲

University of Maine 3


SPIFFY’s annual visit to New YorkCity typically ends up a fun andenriching experience and the most

recent trip last November was noexception.

“We had a terrific time,” said DerekHardy ’10, one of four SPIFFY studentleaders who travelled to New York alongwith Matt Ciampa ’10, Matt Bouchard ’09,Jack Keenan ’10, and Finance ProfessorBob Strong, the group’s faculty advisor.

SPIFFY (Student Portfolio InvestmentFund) is a club of approximately 25undergraduates who manage about $1.4million of the University of MaineFoundation’s assets. Students apply theirclassroom knowledge to obtain realinvestment experience and makeimportant investment decisions. Theymeet weekly to discuss changes to theportfolio using majority vote based onpresentations and research.

As in previous trips to The Big Apple,students toured the floor of the New YorkStock Exchange and met with otherUniversity of Maine Foundation moneymanagers. Their itinerary included aworking lunch at the investment bankingfirm of Sandler O’Neill, a long-timesupporter of the SPIFFY trip, and visits toLazard Asset Management, aninternational equity manager with alongstanding relationship with theFoundation, and Ivory Asset Management,a new manager which runs a long-shorthedge fund. The travelers also ate dinnerat Planet Hollywood and saw “West SideStory” on Broadway.

“We had a blast,” said Professor

Strong. “The students really loved theStock Exchange with all its hustle andbustle. It’s always fun to watch them takein all that’s going on.”

The young men pronounced their jam-packed two-day excursion exciting andinformative and said they enjoyed talkingshop with professional money managers.They agreed that it was rewarding to beable to understand the complicated, in-depth conversations about economics.

“It shows that the Maine BusinessSchool is preparing us well,” said Keenan.

Visiting three different companies alsoproved enlightening, the students said.

“Seeing the vast difference inatmosphere and culture of those threeplaces was really fascinating,” saidCiampa. “You could tell that life at oneplace would be different than at another.At Lazard they were all wearing suits andties but at Ivory Capital they were dressedmore casually. Sandler employees got acatered lunch every day at their desksbecause they had to be there to answertheir phones.”

Regardless of the company at whichthey worked, the money managers all“seemed to have incredible work dayswith long hours,” said Hardy. “Butnobody seemed to mind. They all seemedto like their jobs.”

For him, the highlight of the trip wasvisiting the NYSE. “Seeing that what westudy at the Maine Business School andwhat we do at SPIFFY actually happenswas really eye opening,” he said.

Bouchard was particularly excitedabout the networking opportunities.

“Meeting the professional moneymanagers was like getting your foot in thedoor of their companies,” he said. “Theywere all very nice and friendly. They gaveus their business cards and one womanfrom Lazard told us to send her ourresumes. You could tell they wanted tohelp us out and get us started on the righttrack.”

Talking to the asset managers abouthow they did their jobs turned out to be abig plus for Keenan. “We got to sit downand have in-depth conversations about thedifferent techniques they used to managemoney,” he said. “I used one of thetechniques for a currency analysis projectfor one of my classes. I like that I was ableto pick up different ideas and tips andmake it a real learning experience.” ▲

SPIFFY Trip to New York City is Exciting and Informative

MBSConnects is published by the College of Business, Public Policy and Health John Mahon, Dean

Edited by Ruth-Ellen Cohen • [email protected] • 581-1926

Students, faculty and alumni are encouraged to submit information. Sign up for the online version of this newsletter at www.umaine.edu/mbsnews

Layout and design by Val Williams, University Relations • Printed by University of Maine Printing Services.

In complying with the letter and spirit ofapplicable laws and in pursuing its own goals ofdiversity, the University of Maine System shallnot discriminate on the grounds of race, color,religion, sex, sexual orientation, national originor citizenship status, age, disability, or veteransstatus in employment, education, and all otherareas of the University. The University providesreasonable accommodations to qualifiedindividuals with disabilities upon request.


MBSStudents

Class Spotlight:

Students BecomeTeachers in ScottAnchors’ “Leadershipfor Tomorrow” Class

T raining tomorrow’s leaders is amajor goal of the Maine BusinessSchool. Professor Scott Anchors is

contributing towards this through hisupper level class entitled Leadership forTomorrow – a fast paced class whereleadership becomes personal and studentsare expected to examine themselves, learntheory, and demonstrate leadership inaction.“A significant aspect of leadership

involves engaging others, workingeffectively with a team, and developingcompetence,” said Professor Anchors, whotaught the class with MBA student MeganGrant. “Students learning aboutleadership need to study theory and applythis knowledge in a leadership setting.”In their MBS Leadership Class, Professor

Anchors and Grant carefully integratedtheory and practice through actualleadership.The central project for the class involved

an assignment that required all of theabove aspects of leadership. Students wereplaced in small teams and expected todevelop expertise about a particularleadership skill such as decision making,conflict resolution, effectivecommunication, team building, and timemanagement. At the end of the semester,they had to conduct a 45-minuteworkshop teaching that topic to studentsin “Introduction to Management,” alower-level course that Professor Anchorsalso teaches.“Students’ grades were based on how

well they engaged the workshopparticipants, demonstrated competency inthe subject matter, and workedcollaboratively with their team,” saidProfessor Anchors. “An A grade was onlyawarded if all of these criteria were met ata high level.”One leadership group chose to teach a

workshop on situational leadership styles,which is based on the premise that leaderssometimes must be motivated by “taskaccomplishment” and other times by

“concerns with relationships and people,”said Professor Anchors.“Different situations require different

approaches.”The leadership team engaged their

workshop attendees in an imaginary fireand had them respond in different waysdepending upon the style they wereassigned. “Attendees were fully engagedand experienced the different results ofdiverse leadership styles,” ProfessorAnchors said. “The workshop teamwrapped up their leadership experienceby helping attendees understand thesedifferent styles and the situations they bestfit.“Part of being a good leader involves

working with a team, becoming an experton a topic, and knowing how to getpeople involved and passionate,” hecontinued. “Both the leadership studentsand their attendees gave the workshopsession a great review – the leadershipstudents loved the challenge and thelower level students enjoyed theinteractive learning.”The leadership students said the

workshop presentation helped them learnabout themselves as well as how to be aleader.Jasie Costigan ‘09 said the course was

“more valuable to me than any other Ihave ever taken. It brought real lifechallenges to the table, made me thinkcritically, challenged me as an individual,and helped me further develop skills thatare crucial for the professional sector. Ourgoal was to teach students that we all needto be organized to be fully functional andeffective both in our school and in ourcareers. Conducting the workshop was agreat skill-building experience. It’s onething to present your research to yourcolleagues and classmates, but to informand educate a group of individuals youdon’t know is entirely different. Theexperience challenged me in a way thattextbooks and lectures can’t do. It mademe work outside my comfort zone and itbuilt confidence.”Megan Grant, who helped Professor

Anchors create this experience, said itgave students a great perspective into howto motivate people and excellentexperience making a presentation underpressure. “It was such a rewardingopportunity to see students evolve overthe semester —they got to knowthemselves and each other at the sametime. They all left the course feeling more

confident and knowing that they haddeveloped significant leadership skills thatthey could take with them wherever theygo.”Professor Anchors said, “Our assumption

in teaching this class was that the best wayto learn something is to teach it. Ourengagement of the leadership studentsresulted in increased confidence as a resultof mastering a topic, engaging a group,and working with a team – all importantthings that leaders do. This is an excitingprocess and I am so fortunate to beinvolved in helping these students shapetheir future as leaders.” ▲

Professor Scott Anchors ends hisIntroduction to Managementclass each semester by asking

recent Maine Business Schoolgraduates to speak to students aboutwhat they have learned in their firstprofessional job out of the Universityof Maine. Last December, eightmonths after they graduated, JenniferParent ’09 and Mark Castonguay ’09shared their reflections. Parent, whoworks at Eastern Maine Health CareSystems in Human Resources, saidMBS classes were like the real worldbecause students are required to beaccountable and to deal with thechallenges of working in teams. Sheencouraged students to consider thisas they take courses. Castonguay, adeli manager trainee at Hannaford’sSupermarket, said students shouldnetwork and build their resumeswhile at UMaine. He saidrelationships with faculty andexperiences both in and out of theclassroom can pave the path toemployment and lead to moreenjoyment of college. “Studentsviewed these particular presentationsas very helpful,” Professor Anchorssaid. ▲


M aine Business School studentsfound that what they learn inthe classroom can have real-life

relevance when they helped the Town ofOrono research new policies ontransportation and energy use as part of aservice learning project in Professor TerryPorter’s Business and Society class lastsemester.

The goals of the project were toexamine the application of sustainabilityconcepts by helping to determine if theBlack Bear/Orono Shuttle Bus routebetween the town and the University ofMaine was efficient and was meeting itsgoals, and also to help establish a plan forOrono to reduce its carbon use.

To accomplish these goals, studentschose to either survey bus passengers orexamine the town’s heating oil andelectricity invoices. Students involved inthe bus survey asked riders questionsincluding where they boarded, where theywere going, and why they were taking thebus. Students inspecting the invoicesrecorded data on spreadsheets includinghow much heating oil and electricity hadbeen purchased over the past five yearsand how much the town was spending toheat each municipal building.

Presenting their findings and offeringrecommendations to town officials andbusiness leaders during class, studentssaid the service learning project enabledthem to develop their interview, research,organizational, and teamwork skills. Theysaid they enjoyed getting out of theclassroom and into a real-life situation, aswell as the opportunity to interact withtown residents and officials and generatetheir own understanding of classroomssubjects and ideas. They suggested,among other things, that the shuttle busadvertise more to students and that it offeradditional stops on campus and extendedhours on weekends.

They agreed that the service learningproject was a wonderful learningexperience.

“It’s good to see that what we’relearning in class is relevant,” said AllyHowatt ’10.

The class was “definitely moreinteresting than writing a paper or a casestudy,” said Justin Labonte ‘10. “It’s alsopretty practical – you’re doing research forsomething that really matters to people.”

Mike Lemont ’10 wished more classescould be interactive. “It’s nice to be able tolearn from experience rather than from abook or lecture,” he said.

“I think service learning projects aregreat and that more professors shouldutilize them,” said Carl Skillings ’10.“They are a win-win situation foreveryone involved because students getfirsthand experience while providinguseful information.”

For their part, town officials said theynow have crucial data that they wouldn’thave been able to garner without students’help. They will be able to make moreinformed decisions about whether thetown-university bus service route needsrefining. And, now that they have baselinedata on how much energy is being used inmunicipal buildings, they will be able tomeasure the effect of any buildingimprovements.

Officials also said that they enjoyedworking with the university and that theyhoped to be involved in similar projectsdown the road.

“I’d like to do this every semester,”said Town Planner Evan Richert. “It’sgreat to have students and professors whoare willing to provide a service as part of

their learning.” He said that although thiswasn’t the first time that UMaine studentsand the town had worked together on aproject, it was the most organized effortand could be a model for futurecollaborations.

Thanks to the students’ data, Oronomerchants now know that most of theshuttle bus riders are UMaine studentsand employees traveling from their homesto campus, said Michele Goldman, ownerof Fiberphilia on Mill Street and presidentof the Orono Village Association.

“We learned that very few people areusing the shuttle to visit downtownbusinesses. This was valuable informationbecause it tells us we need to focus ouradvertising within the shuttle andencourage more businesses that appeal tothe University community.”

Orono Town Manager Cathy Conlowsaid the students offered a newperspective. “They look at things in a waythat we might not otherwise view things.They have no direct stake in the outcomestherefore they can view the issues moreopenly.”

Professor Porter congratulated studentson a great job. She said she, too, waspleased with the service learning project.

“Combining academic classroomcurriculum with meaningful service is awonderful way for students to increaseknowledge, develop skills, and clarifyvalues because it enables them to makediscoveries firsthand through observationand interactions instead of hearing orreading about others' experiences.” ▲

Class Spotlight:

MBS Students Help Town of Orono Through Service LearningProject in Professor Terry Porter’s Class



MBSStudents

Hathaway from page 1“The misconception is that people are

poor because they’re lazy or not tryingwhen, in fact, in many developingcountries the women are hardworking,intelligent people who just lackopportunity,” Hathaway said. “Grameenbelieves that women have the skills torun a successful entrepreneurialendeavor, whether it involves handcraftsor weaving or operating a grocery store,farm, or rickshaw business.”

By providing women a chance to liftthemselves up, Grameen is changingtheir social status, according toHathaway. “Because women arediscouraged or forbidden from working,they have been undeservedly labeled as asocietal and familial burden – as anothermouth to feed. But when Grameen comesin and gives a woman the chance to workand to start contributing financially to thefamily she’s treated as a respected,capable member of society.”

No written contract exists betweenGrameen Bank and its borrowers.Repayments are made through tinyweekly installments.

“There’s a big sense of responsibilityand honor that goes along with theseloans,” said Hathaway. “That’s why therates of repayment are typically between98-100 percent. These are strong,wonderful women who don’t think oftheir loan as a gift, but as a way to raisethemselves out of poverty and create abetter life for themselves, their families,and their community. Borrowers organizeinto small groups to empower andsupport each other and make sureeveryone conducts their financial affairsresponsibly.”

Based in a hotel down the road fromthe Grameen Bank headquarters inBangladesh, Hathaway spent most of her10-week basic training program andinternship traveling with staff memberswho conducted business at Grameen“centers” scattered throughout thecountry. Wearing traditional Bangladeshigarb in the blistering heat, she rode eachday on crowded, rickety buses, jouncing

along rutted roads that often dissolvedinto muddy paths.

“The bus was like a sardine can onwheels,” she recalled. “There were nolines on the road and we’d be dodgingrickshaws and weaving in and out of thetraffic that was coming and going in alldirections. People were driving like batsout of hell, and I spent the first few bustrips with my heart in my throat,wondering if I’d ever make it back to seemy son.”

With her translator by her side,Hathaway would watch as borrowerslined up at the centers, bringing theirpassbooks with them so their transactioncould be carefully recorded.“There’s a regimented set of rules,regulations and procedures each staffperson must follow,” she said. “I neededto observe what each person did, lookover their books, ask questions, andfigure out what elements I need to knowif I’m going to replicate this in anothercountry.”

Hathaway said she came away awedby the job performed by the tireless anddedicated Grameen staff persons “in acity rife with inefficiencies, corruption,and poverty, where it’s hard to findmodern conveniences and wherecomputer technology and internet accessare practically nonexistent.”

There were other challenges, too.“Although there’s a great deal of respectbetween borrowers and employees,people here are shy and humble and thatcan lead to a lack of dialogue anddifficulties obtaining, specific, detailedinformation,” she said.

Still, Grameen – which, along with itsfounder, Muhammad Yunus, won the2006 Nobel Peace Prize – is doing anamazing job. The organization workshard to overcome social inequities and toreduce gender oppression, eliminatedowries, and ensure that families enrolltheir children in school, eat three meals aday and have a sanitary toilet, a rainproofhouse, clean drinking water, andmosquito nets.

“Each borrower works diligentlytoward fulfilling these goals,” she said.“It is a proud day when she can finallyclaim them all, for this symbolizes thatshe has, at last, crossed the poverty lineinto solvency. The progressive, socialagenda is by far the biggest goal forGrameen. The banking element is just ameans to an end – the end of poverty.” ▲

Dan Bouchard ’83, ’85Gand Shawn McKenna ’77Join MBS Advisory Board

Welcome to new members of theMaine Business SchoolAdvisory Board, Dan Bouchard

’83, ‘85G and Shawn McKenna ’77.Bouchard is senior managing director

and chief administrative officer of StateStreet Corporation’s Global Markets divi-sion in Boston, serving as the centralpoint of contact and liaison with criticalstaff functions including HumanResources, Audit, Compliance, Marketing,Legal and Finance.

McKenna is co-founder and CEO ofSDO Ltd., which includes Starlite Diner, achain of 50s style eateries in Moscow,Russia. The corporation also consists of 16corporate cafeterias, two airline cateringcompanies, a food production facility, andone of the largest banquet/catering com-panies in the city. His related businessesemploy more than 2,000 employees repre-senting more than 20 countries.

Bouchard, who earned a bachelor ofscience degree in business administrationin 1983 and a master of business adminis-tration degree in 1985, lives in NorthReading, Mass. He would like to see a 20-30 percent increase in business schoolenrollment and wants to help MBS find aniche. “Dean Mahon has some great ideasand he wants to make things happen, buthe can’t without the proper resources.One of the board’s roles should be to helpsecure funding to grow the school. Weshould provide guidance, but we alsoneed to make sure the people making theday-to-day decisions have the properresources to do their job.”

McKenna, who earned a degree inbusiness management in 1977, lives inBowdoinham, Me., and commutes toMoscow every two weeks. “I would liketo help raise money and work with theuniversity to develop a work study/co-opprogram for business students. Thiswould enhance the reputation of our busi-ness school, help Maine businesses, andenable students to make an easy transi-tion from education to employment. Iknow the school is rated as one of the top1,000 programs in the world, but I wouldlike to see it move into the top 500. I alsowant the school to gain a reputation forquality work-study programs and suc-cessful job placement. ” ▲


The University of Maine helped propel him to fame and fortune,Hollywood film producer Lawrence Bender ’79 told students at theMaine Business School convocation last October.

Bender, who earned a degree in civil engineering from UMaine, produced suchbox-office hits as Kill Bill, Good Will Hunting, Pulp Fiction, Reservoir Dogs,Anna and the King, and Inglourious Basterds. During his speech at the D.P.Corbett Business Building he kept students at the edge of their seats, regalingthem with anecdotes about the goings-on in tinsel town.

But his own story turned out to be the most compelling.“It took me a long time to get to where I am,” said Bender, who lives in Los

Angeles. “I worked really hard. I tried dancing and I tried acting. I spent manyyears poor and broke. But the training and inspiration I got here at UMainebecame the foundation of who I am and ultimately was what made me good atwhat I do now, which is producing movies.

“As a movie producer I have a foot in two different worlds,” he continued.“One world is poetic, ethereal, creative, and inspirational. The other worlddemands practical problem solving; I have to put cash together and I have toput people together. At UMaine I received an education in both those worlds.The civil engineering program is very rigorous and I came away feeling asthough I could solve any problem that was thrown at me. But I also found mycreative side here at UMaine. I learned to do pottery, I took art history andmusic, and I joined the school dance department and got involved with theRobinson Ballet Company. Sometimes my engineering professors would evencome and watch me dance. I was involved in two different worlds here atUMaine and I enjoyed it and was inspired!

“Who knew that years later I’d be making movies with Brad Pitt and BruceWillis!”

This was Bender’s second visit to UMaine in four months. Last June heattended the University of Maine Foundation’s 75th anniversary celebrationwhere he was one of five alumni honored for their career achievements andcontributions to society. There he met Dean John Mahon of the College ofBusiness who asked him to return to campus in October to give the convocationspeech to Maine Business School students.

“Dean Mahon is wonderful and persuasive and he made me feel like itwould be a really nice thing to do,” Bender said. “Then I began to do someintrospection and I came away realizing what an enormous impact my timehere at UMaine had on my life.”

His message to students was simple: follow your passion.“It can be incredibly tough on both you and on your parents,” said Bender, who moved to New York after he graduated from

UMaine to try and make it as a dancer.“Then I got injured and decided to become an actor,” he said. “I moved to Los Angeles and struggled and struggled and ultimately

became destitute for so long that I ended up working on a movie set. From that moment I decided that producing films was what Iwanted to do. I met (film director) Quentin Tarantino and my life took off from there. Following your passion doesn’t necessarilymean it will actually become your career, but it will bring you through a series of choices where eventually you will find your place inlife.”

As successful as he is, Bender says he is always trying to do better and be better. He has become a political activist on a couple offronts. He produced Al Gore’s “An Inconvenient Truth,” and he currently is working on a documentary about the dangers of nuclearproliferation.

Young people today “have an amazing opportunity to make a difference in the world,” he told students. “The entire country needsyour help.”

Bender had another message.“Never give up,” he said. “There’s a little bit of serendipity in life and opportunities will arise. You may not know they’re

opportunities so it’s important to keep your eyes open. People can open doors all the time, but if you don’t walk through you’ll neverknow what you’re missing!” ▲

Hollywood Film Producer Lawrence Bender ’79 Speaks to Maine Business School Students

SPIFFY was honored last Octoberat the annual meeting of theUniversity of Maine Foundation,

the group that gave the StudentPortfolio Investment Fund its start in1993 when it entrusted them to man-age $200,000 in assets.

Today, SPIFFY has helped growthat initial allocation to $1.4 million.

“We are very impressed with theseyoung people and we have been sinceday one,” said UMF President andCEO Amos Orcutt. “SPIFFY is a verysuccessful operation. It has benefittedall parties including the university aswell as the students who have beenable to learn about financial manage-ment and even land jobs because oftheir experience with SPIFFY. We atthe University of Maine Foundationare very proud of the students ofSPIFFY and we are pleased with therole that the Foundation has played intheir success.”

Speaking at the UMF annual meet-ing, Finance Professor Bob Strong,SPIFFY’s faculty advisor, told the audi-ence of nearly 200 that 16 years ago hepresented to the UMF board of direc-tors “the radical idea of entrusting stu-dents with some of the Foundation’sassets.

“The board thought it was a goodway to extend the Foundation’s reachand liked the educational experiencethat SPIFFY would provide,” ProfessorStrong said.

“It turned out to be a great experi-ment. Now it’s no longer an experi-ment, but a useful extra-curricularactivity. We typically manage about1% of the Foundation’s assets.SPIFFY’s fund under management isnow at an all-time high – a great thingin this day and age.”

SPIFFY funds are handled solely bystudents who apply their classroomknowledge to obtain real investmentexperience and make important finan-cial management decisions. Membersmeet weekly to discuss changes to the

investment portfolio using majorityvote based on presentations andresearch. The executive board of theclub consists of two co-presidents andseveral vice presidents who managethe day-to-day operations.

“SPIFFY is completely student run,”Professor Strong said. “When membersdecide to buy or sell, they don’t haveto run it by me.”

Nearly 1,000 UMaine students haveparticipated in SPIFFY since its incep-tion, according to Professor Strong.SPIFFY alumni are spread all acrossthe United States as well as interna-tionally. They have become investmentbankers, portfolio managers, stock bro-kers, credit union managers, and ener-gy traders. They work on Wall Streetand at bank trust departments inMaine, at big firms in Boston, and atthe Mayo Clinic.

As faculty advisor, Professor Strongsaid he has helped at least a dozenother schools interested in organizinga similar program and has offeredadvice to around 75 schools with exist-ing student investment funds. “Eachyear I get phone calls and emails fromother universities asking about SPIFFY.I know for certain that UMaine’s repu-tation in the business school communi-ty has been enhanced by the qualityand success of our program.”

SPIFFY participates in two annualtrips that provide members with theopportunity to learn even more aboutfinance management. In November,Professor Strong and four studentstravel to New York City to visit WallStreet and meet with a few of theFoundation’s other money managers.Helping to organize the club’s annualvisit to New York City and Wall Streetis Mike Boyson, senior investmentmanagement consultant with SmithBarney in Portland, who handles bro-kerage duties for SPIFFY and theFoundation.

In March, 8-12 students andProfessor Strong head to the

University of Dayton in Dayton, Ohio,to participate in the RISE (RedefiningInvestment Strategy Education)Symposium which brings togetherleading students, faculty and profes-sionals to discuss issues facing theworld of financial investment.

“We rub shoulders with studentsfrom Ohio State and Penn State and werealize we know just as much as theyknow,” Professor Strong said. “It’s agreat feeling. Five times we have beenone of a very few schools invited tomake a presentation on investmentstrategies to a panel of Wall Streetjudges.”

Thanks to a pair of $10,000Citigroup grants that the Foundationhas received, SPIFFY members havetaken to the road, visiting low-incomemiddle schools throughout Maine totalk about the stock market, the impor-tance of saving, the concept of com-pounding interest, and the basics offinance. The seventh and eighth gradestudents are fascinated by the SPIFFYpresentations and even those whonever considered going to collegebegin to think differently about highereducation, according to ProfessorStrong.

“They get all fired up,” he said.“‘I’m going to Orono!’ they tell eachother.’’

Middle school outreach will contin-ue to be part of SPIFFY’s agenda,according to Professor Strong.

“It’s been a great experience,” hesaid. “SPIFFY students have been goodstewards of the University.”

Former SPIFFY member AdamParker ’03, who decided to attend theFoundation’s annual meeting afterfinding out that SPIFFY would be fea-tured, said Professor Strong’s presenta-tion about the club “made me proud.”

Recalling his own years as a SPIFFYmember, Adam said the club “gave mea good opportunity to learn the finan-cial market by actually participating.

“I learn best hands-on.” ▲

MBSHonors

University of Maine Foundation Honors SPIFFY



T eaching keeps Professor ofManagement Natalie Steiger onher toes.

“You have to be constantly ahead ofstudents since they’re constantly chal-lenging you,” she said. “Because of allthe questions they ask, I’ve developeda better understanding of the material Ilearned as a Ph.D. student. One of thereasons I like to teach so much is that Iget to learn, too!”

Professor Steiger, who has been atthe University of Maine since 2000,teaches operations management andstatistical analysis to juniors, seniors,and graduate students.

“In my operations managementclass we touch on planning, schedul-ing, inventory control, quality manage-ment, location analysis, and transporta-tion,” said the professor who aims inher classes to eliminate the anxiety thatthe quantitative nature of the subjectcauses some students.

“It’s nice to see students who may

have been apprehensive initially comeout of class feeling pretty good aboutstatistics and other mathematical meth-ods,” she said.

Teaching is Professor Steiger’s sec-ond career. After earning bachelor’sand master’s degrees in mathematicsfrom the University of SouthernMississippi, she served as a junior engi-neer for South Central Bell in Jackson,Mississippi, and as an analyst andmanager for City Service Oil and GasCo. in Tulsa, Oklahoma.

In 1993, after being a stay-at-homemother for eight years, she was readyto return to the work force. But timeshad changed.

“When I left the oil industry I wasstill working on those huge, mainframecomputers. In the interim everythinghad gone to personal computers, so Iwas woefully inadequate on the tech-nology end of things. I knew I had toget re-educated, and since I alreadyhad my master’s degree, I decided to

go for a Ph.D. so I could become auniversity professor,” saidProfessor Steiger who was 42when she returned to school.

A part-time student, sheenjoyed her classes at NorthCarolina State University inRaleigh. But she soon learned todread the 75-mile commute fromher home in Burlington, N.C.

“Traffic on the busiest high-way in the U.S. was always hor-rific,” she recalled. But her hardwork paid off and in 1999 she washired as a visiting assistant pro-fessor at the University of NorthCarolina at Greensborough busi-ness school. The next year, sheand her husband, David Steiger,professor of managementinformation, came to UMaine.

“We decided we wanted to bein a small, university town, so we

were fortunate to be able to comehere,” Natalie Steiger said. “The coldweather is challenging. Growing up inthe South, I was used to spring comingin March. But we like the small-townatmosphere – it was great for ourkids.”

In addition to her teaching duties,Professor Steiger serves as advisor toBeta Gamma Sigma, the business hon-ors society. “I enjoy being part of theMaine Business School,” she said. “Ilike the camaraderie here.”

With her days chock-a-block full,Professor Steiger likes to unwind onthe weekends by reading and exercis-ing. “Ballet used to be my hobby andI’d like to get back to it someday,” shesaid. “It’s rigorous but I like having toconcentrate. When I’m on the treadmill,my mind wanders to all the chores Ihaven’t done. I like having to focus onjust one thing.” ▲

Faculty Spotlight:

Professor of Management Natalie Steiger Aims to Allay Students’ Anxiety

When Paujo Bornstein graduatedfrom the Maine Business Schoolin 2006 he wanted to travel, land

a job in finance, and make a positive socialimpact. He has achieved all three goals.

Now living in Cambodia, Paujo worksas a consultant at the microfinanceinstitution AMK(www.amkcambodia.com) where hewrites policies that help the institutionextend loan opportunities to poor people –mainly women – so they can start theirown businesses and become self-sufficient.

“Cambodia is one of the poorestcountries in the world and it’s coming outof a rough time in history,” said Bornstein.“I wanted to work at something in which Icould use the skills I learned at theuniversity and also perform some sort ofsocial mission. Microfinance seemed like agood crossroads for those two things. Ilike what I’m doing and I like to think I’mmaking a difference.”

Although he gets great satisfaction outof knowing he’s helping poor people liftthemselves up and become successfulentrepreneurs, Bornstein said his job canat times be as frustrating as it is fulfilling.“The big issue in Cambodia is that thereare many microfinance institutions andlots of overlap in coverage areas. That canlead to over-indebtedness where peopleget multiple loans from more than oneinstitution. Sometimes they get one loan topay off another which leads to a viciouscycle. There are no credit bureaus here, soit’s difficult for one institution to knowthat a client already has a loan fromsomeone else.”

Aiming to help people make bettereconomic decisions, Bornstein plans tostart a business teaching financial literacyto microfinance clients. “People withbetter financial literacy skills will be lesslikely to take out multiple loans and willbe able to run their businesses better,” hesaid.

More than three years after graduatingfrom the Maine Business School, Bornsteinsaid he continues to rely on theknowledge he obtained there. “I had a

great experience atUMaine. Theprofessors areexcellent and I feellucky to have builtstrong friendshipswith some of them,particularlyProfessor RickBorgman andProfessor Bob Strong.I took numerousclasses with both. They are top notchprofessors who were always interestingand who gave me a good businessfoundation.”

Armed with solid business skills aswell as with the confidence that comesfrom being mentored by caring professors,Bornstein has become involved in a coupleof exciting business ventures in Cambodia,which, he said, is on the cusp of economicrecovery.

He and a business partner havepurchased the rights to movies and,through collaboration with a mobilephone provider, now offer the films onmobile phone networks.

“We have a lot of long term visions forthe business,” he said. “There’s a ton ofpirated software and DVDs in Cambodiawhich is a member of the World TradeOrganization. The WTO says that by 2016all the DVDs and software must be legal.That means that big studios are going tocome here because they won’t be afraidtheir movies will be pirated. We want tobe an integral part of that. We’re signingagreements with the government so thatwhen these studios come we’ll be able toprovide them with services that will helpthem navigate Cambodia’s businessenvironment.”

Always looking to fulfill what he callshis “social mission,” Bornstein has anotherbusiness plan which involves opening amovie theatre and a bar or café. “We’dlook to partner with an international NGO(non-governmental agency) that trainsstreet children to work in restaurants sothey can acquire job skills. A bar or café is

slightly different than what NGOs arecurrently involved in, and it would beanother skill the children could learn.”

“In Cambodia there are lots of optionsto perform social good,” he said. “What ismore difficult is to find a way to set up abusiness that has a strong socialcomponent, but that can also be profitablefor long term sustainability.”

Bornstein isn’t sure how long he’llremain in Southeast Asia. His plan is tomove to Germany and enroll in auniversity that partners with some U.S.universities. By studying for one year inthe U.S. and one year in Germany hecould earn a degree from both countries.One of these would be a master’s degreein finance.

“It would enhance my education andhelp me move in the direction of a careerin finance,” he said. “But it all depends onhow my businesses here go. I’m keepingmy options open.”

A world traveler who backpackedthrough Europe after graduating fromhigh school in Readfield, Maine, Bornsteinstudied in Spain and Mexico while atUMaine. He calls travel “addictive.”

“I like learning and seeing othercultures,” he said. “I think travel isespecially important for business studentsbecause businesses are global and thereare no boundaries anymore. To becompetitive in the business world, it helpsto have a world perspective and it’s mucheasier to have this when you’ve traveledand when you’re aware that there’s aworld that can be very different outside of

continued next page


MBSAlumni

Alumni Spotlight:

Paujo Bornstein ’06 Works asMicrofinance Consultant inCambodia


Rebecca Hawkins

As a student at the Maine BusinessSchool Rebecca Hawkins did lotsof traveling abroad. She taught

English in Spain and she attendeduniversities in England and Turkey.Along the way she also toured WesternEurope.

Now that she has graduated she plansto see even more of the world.

“I’d like to teach English inArgentina,” said Hawkins, who earned abachelor’s degree in management andinternational business in December.“Then I’d like to work in Asia. I want togain some real-world experience before Igo to graduate school.”

Real-world experience always has beena priority for Hawkins. When she was ajunior at the University of Maine, shespent her spring semester working inWashington, D.C., as a trade intern for theMexican Embassy in the North AmericanFree Trade Agreement (NAFTA) division.Her main duties involved helping

American companies doing business inMexico.

“Working as trade interns, we metwith businesses, attended congressionalhearings, conducted research and wroteabout trade laws, as well as advocated thebenefits of NAFTA,” she said. “Not onlydid we have our internship duties, but wetook classes at Washington InternshipInstitute and toured the capitol. Wevisited the World Bank, the InternationalMonetary Fund (IMF), and the CIA.”

Her experience in Washington led toanother internship at the MaineInternational Trade Center in Portland inthe summer of 2009. “I assisted Mainebusinesses that were looking to export,and a large majority of these businesseswere looking to establish relationshipswith Canadian firms,” she said. “I alsohelped host a Japanese delegation that hasstrong business ties to the state of Maine.There’s a big market for Maine seafood inAsia.”

The internships “helped me learnabout economics and complemented mystudies, since trade is a huge part ofinternational business,” she said. “Youcan learn so much from internshipexperiences. They should be mandatoryfor all UMaine business students.”

She praised the Maine Business Schoolfor helping her broaden her horizons.“The faculty is very supportive ofstudents having experiences outside the

“Everything is great in Spain –the weather, the language, theculture. I loved it.”

— Rebecca Hawkins

Alumni Spotlight:

Rebecca Hawkins ’09Says InternshipsEnhanced Her MBSExperience

classroom. They encourage internationaltravel and are flexible about transfercredits. Professors (Gloria) Vollmers and(Ivan) Manev were particularly helpful.”

Traveling is vital today, especially forbusiness students, Hawkins said.“Everything is global now – the servicesyou use, the products you consume. Asmuch as possible, students need todevelop an awareness of other cultures,places, and languages. You need to do asmuch as you can to connect with otherparts of the world.”

“I fell in love with Portugal andItaly. Scotland and Ireland werealso impressive, but cold.”

— Rebecca Hawkins

For Hawkins, the future is filled withpossibilities. She has applied for aFulbright Teaching Assistantship inArgentina and ultimately will pursue agraduate degree in international business.

For now, though, she looks forward tobecoming certified in English as a SecondLanguage and teaching students in otherparts of the world. She will be on her ownas she tours the world, but she doesn’tfind that the least bit daunting.

“I’m pretty independent, and I liketraveling alone. You can have your ownadventure and customize it to exactlywhat you want it to be.” ▲

Readfield, Maine. I like to think that mytravel has allowed me to have a decentunderstanding of different people,different cultures, and different religions.

“I’ve had people say to me that it mustbe awful to travel alone, but I mademany, many good friends because it’seasier to meet people when you’re byyourself,” he said. “Also, I think you learnto be resourceful when you travel alone.You figure out what’s important to you.

“The world would be a better place ifpeople traveled more.” ▲

Paujo Bornstein continued


The days are flying by forAnh Do! Working inLondon as a risk

management analyst forCitigroup is keeping the 2008University of Maine finance andaccounting graduate nonstopbusy.

“This is a very excitingexperience,” said Do, who tookon her new position with theworld’s largest financial servicescompany last September. “Myjob is to help evaluate andanalyze the risks Citigroup takeson every day in their ongoingbusiness activities, whether it istrading, investment banking, orasset management. We assesswhether Citigroup’s risk exposure isappropriate and from that we advise thebusiness side of the company so we canensure that the company is makingintelligent and calculated risks.”

Do has been on the move sincegraduating from UMaine. After workingas a research analyst with the brokeragefirm of Sterne Agee in New York City forfour months, she decided to attend theUniversity of Cambridge in Englandwhere she earned her master’s degree infinance. Then it was back to Manhattanwhere she spent 10 weeks training withCitigroup before starting at her desk inLondon. Her first week was a whirlwindof activity.

“I’m learning people’s names, going tomeetings, participating in conferencecalls, and getting familiar with thecompany,” she said. “I’m doing a greatdeal of analytical work that includes a lotof reading, writing, and financialmodeling.”

People are paying more attention torisk management analysis in light of thecurrent financial crisis, according to Do.“Financial institutions – as well asregulators such as the Federal Reserveand the U.S. government – realize nowhow important it is and it’s very excitingto be part of the whole process.”

Do said she continually finds herselfhearkening back to the skills and trainingshe acquired at Orono. “Every day I recall

the concepts, financial knowledge, andterminologies I learned at UMaine. Nowthat I’m actually in the industry I realizehow much I know and how well preparedI am thanks to UMaine. This makes a bigdifference in my confidence. I feel asthough I measured up well to theCambridge students who attendedschools like Harvard and Berkeley, and Iknow that I can hold my own with mycolleagues here at Citigroup.”

A native of Vietnam, Do is one of theMaine Business School’s most inspiringsuccess stories. Salutatorian of hergraduating class, she was namedOutstanding Graduating Student in theCollege of Business, Public Policy andHealth, as well as that college’sOutstanding International Student for2008. She was a member of All MaineWomen Honor Society and was active inthe International Student Association, theOffice of Multicultural Programs, SPIFFY,and Student Government where she wasvice president for financial affairs. Sheserved as a resident assistant on campusand was a member of numerous honorsocieties including All Maine Women,Golden Key, Beta Gamma Sigma, and PhiKappa Phi which awarded her afellowship and an award of excellence.During her four years at UMaine, Anhreturned home to Hanoi annually whereshe interned at KPMG, an auditing firm,and at HSBC, a UK commercial bank.

“Finance is a very exciting field to be

in because it is crucial tounderstand it in order tosucceed in both business andsocial activities,” she said. “Ihave always wanted to work inthe business field since I was asmall child, but of course wasn’tsure exactly what I wanted todo. As I grew up and learnedmore about different things atschool, I just found my naturalpassion for finance.”

Calling her time at UMaine“challenging and rewarding,”Do said the faculty wereknowledgeable and helpful andthat she made “a lot of lifelongfriendships that I really treasure.

“I have lots of goodmemories of UMaine,” said Do, whoplans on visiting the campus as much aspossible and becoming an active andinvolved alumna.

While the university provided herwith a solid, practical business educationthat has led to her burgeoning career infinance, Do also credits it with “shapingmy personality and making me who I am– someone with confidence who iscapable of doing things and having apurpose in life.”

After spending long hours on the job,Do said she looks forward to unwindingon weekends. “In my free time, Inormally go to the gym, cook, read, ortake a walk to one of these beautiful parksin London. Cooking is one of my passions– I enjoy trying different cuisines fromdifferent countries and then making themmyself. Other than that my weekend isnormally spent on catching up withfamily and friends and catching up withsleep as well!”

Each day brings new challenges andopportunities as she gains experiencewith finance, investment, and banking.But she’s keeping an eye on the future,too. At some point she plans to return toViet Nam to help set up a moredeveloped financial system.

“The country is developing and thereare a lot of opportunities there,” Do said. ▲

Alumni Spotlight:

Anh Do ’08 Works at Risk Management Analyst at Citigroup


This year’s incoming MBA/MSAstudents got a head start on theirgraduate program thanks to

Residency Week.Held annually at the end of August,

Residency Week enables new students tobecome familiar with the Maine BusinessSchool curriculum and to get to knowtheir colleagues even before classes start. Itincludes intensive seminars on marketing,accounting and finance; team buildingphysical activities through the MaineBound Adventure Center; and anopportunity to solve real-life businessproblems using case analysis.

“Residency Week is designed to helpnew MBA students understand the typesof activities they’ll encounter, the level ofacademic rigor and performance that’sexpected, and the tools they’ll need tosucceed,” said Professor Paul Myer, whoorganized the program along withProfessor Nory Jones, director of graduateprograms for the College of Business, andprofessors Jason Harkins and Patti Collett.

“The program also aims to create asense of community among the MBAstudents themselves,” Professor Myer said.

Residency Week 2009-2010 was arewarding and enjoyable experience,according to several participants who saidthey appreciated the opportunity to meetMBS faculty and fellow graduate students.They said the mini-classes werestimulating and the physical activitiesprovided a fun way to get to know theirclassmates quickly.

“I can’t think of a better way to kick offmy MBA experience than with ResidencyWeek,” student Shannon Byers said.

Although students typically arerequired during Residency Week toanalyze and solve challenges faced bylocal businesses, this year they were askedto analyze UMaine’s MBA program andthen create a marketing plan to grow it.

Divided into teams, participants cameup with a variety of recommendations thatincluded reaching out to international andnon-traditional students, using alumnirelationships to increase awareness of theMBA program, and developing a schoolbrand.

Making their presentations to DeanJohn Mahon and faculty, students werepoised and articulate as they explained

details of their marketing strategies andanswered questions from the audience. Itwas obvious from the laughter and goodnatured ribbing that they already werecomfortable with each other and withtheir professors.

“Residency Week definitely helped usdevelop a sense of camaraderie with theother first year MBA/MSA students, saidNicole Gogan who also “gained a bettersense of the strength of the MBS programsas well as an appreciation for the depthand experience of the faculty.”

Student Jonathan Charette calledResidency Week a “useful tool forintroducing us to many aspects of theUMaine MBA/MSA program,” and saidhe was pleased to be able to get an idea ofthe curriculum.

Residency Week helped her understandhow to communicate effectively, saidstudent Shannon Byers. “The combinationof physical activities and lectures and thetask of analyzing and solving real businessproblems solidified the importance ofgood communication in a way I havenever experienced.”

Thanks to the case analysis assignment,student Amy Irish came away with “abetter understanding of how to meetdeadlines, incorporate last minute details,and work as a team,” she said.

As they evaluated the Maine BusinessSchool program, students happilyreflected on their own reasons forenrolling. They said they were impressedthat the school is accredited by AACSBInternational – the Association to AdvanceCollegiate Schools of Business – and likedthat the curriculum combines traditionalbusiness skills with hands-onopportunities including the internationalfield experience and theconsulting/internship program.

“I knew the MBA program at theMaine Business School would provide theright base from which I could build mycareer,” said Charette.

MBA/MSA Students Are Introduced toTheir Program During Residency Week


The Maine Business School wantsgraduates to head into theworkforce feeling prepared and

confident. That’s why we encourage ourstudents to participate in internships.These short-term, temporary, supervisedemployment opportunities help themgain valuable professional experienceand build leadership skills.

We would like to see many morestudents reap the benefits of internships– particularly internships with alums.But to boost participation we needadditional opportunities.

Consider offering an internship atyour workplace. You’ll be engaging thenext generation of Maine BusinessSchool graduates and providing themwith a fantastic opportunity to follow inthe footsteps of another University ofMaine graduate. And you’ll become arole model who represents what UMainealumni can do. While MBS studentsbring their talents and enthusiasm toyour firms and businesses andstrengthen our identification as a school,

you’ll increase your productivity andhave a chance to groom a potentialemployee who is familiar with yourcompany. You’ll also be giving back tothe university in your own unique way.

And, if you do business in Maine,you’ll be doing your part to help stemwhat has been dubbed the brain drain!

“We want to keep people in thestate after graduation andMaine-based internships are thebest way to support that,” saidMBS Professor Scott Anchors.

MBS instructors say internshipsbroaden students’ horizons, help themsee if they’re headed in the rightprofessional direction, and teachteamwork and leadership skills. Studentssay internships complement theirclassroom work and enable them to seethe relevance of what they’re learning.

Businesses also consider internships a

boon. “Interns bring with them the latestand greatest technology skills and freshideas gained from their business classes,”said Cathy Nugent, talent acquisitionspecialist for Hannaford Supermarkets.

Internships enable a company to“scout out potential employees in arealistic format,” she said. “To really getto see how someone acts in a jobsituation is a huge plus for us. If you hiresomeone who has been an intern, youcan count on them getting up to speedfaster because they’re already aware ofcompany culture. They can hit theground running.”

Sherwin Williams also uses summerinternships at stores around the state toscreen potential employees, according toTom Pitts, district manager. He said theBangor store has hired at least one interneach summer during the past severalyears with help from UMaine’s CareerCenter which “does a nice job helping topre-qualify interns and set up interviews.

“Internships are a two-way street,”said Pitts. “Students get to see if they

Alums Encouraged to Provide Internship Opportunities to Maine Business School Students

Student Travelers Speak to Maine Tourism Advisory Committee

MBA students who visitedBrazil last year to learn abouteco-tourism told the Maine

Tourism Advisory Committee that theinformation they acquired while in Brazilcould be applied right here in Maine.

Student travelers Brenton Murray,Nicholas Nadeau, Amy Sundberg, andJustin Jamison said during a presentationat The Senator Inn in Augusta last fallthat Maine could replicate the thrivingeco-tourism industry in Amazonas, Brazil.Although the two states are distinct in anumber of ways, there are similarities:they both have native populations and astrong ethic to preserve their culturalheritage and they both are rural andunder pressure to preserve the naturalenvironment. In both cases that meansforest management and preservation.

Eco-tourism, a way for travelers to

engage in sustainable tourism whilevacationing, is becoming increasinglypopular. But to be successful, an eco-tourism venture must meet a number ofcriteria, the students said. It should be agrassroots community effort with thelocal population heavily involved in theprogram; contribute to the local economy;preserve the state’s natural resources andcultural heritage; include a variety ofactivities; and provide opportunities forvacationers to learn and to respectfullyconnect with the local culture and fellowtravelers.

Composed of industry andgovernment leaders, the Maine TourismAdvisory Committee serves as theadvisory board for CenTRO, the Centerfor Tourism Research and Outreach,based at the University of Maine. CenTROcoordinates research, outreach and

educational programs related torecreation and tourism, and is directed byUMaine Professor of Marketing HaroldDaniel, who accompanied the students toBrazil and asked them to give apresentation to the advisory committee onwhat they learned about eco-tourism.

“This is a big gift from the students toyou,” he told the committee.

The Maine Business School requiresMBA students to participate ininternational travel structured as courses.Travel expenses are covered by feesadded to their tuition.

The students said they experiencedtwo very different types of eco-tourism inBrazil: Ariau Towers, a luxury hotel in themiddle of the Amazon Jungle completewith cable TV, air conditioning, andgourmet meals; and the Uacari Lodgewhich floats on the Amazon River, relies


on solar energy, and is owned andmanaged by the local population.

Regardless of their approach, eco-tourism vacations can be marketed to alltypes of travelers – whether they like tosee and do new things or prefer familiardestinations, whether they are from out ofstate or live locally, or whether they areseeking adventure or yearning for arelaxing retreat, according to the students.These vacation spots should offer a broadrange of activities that reflect their naturalsettings including hiking, rock climbing,swimming, boating, and beach lounging.However, eco-tourism works best when itprovides visitors with an educationalexperience about the local culture andenvironment. Students said eco-tourismdestinations should form partnershipswith hotels, cruise ships, andtransportation companies so accessibilitywon’t be an issue for travelers.

Committee members praised thestudents for their informative, wellexecuted presentation and said theyprovided valuable insight. Peter Daigle,

chief operating officer of Lafayette Hotels,said the tourism industry needs to“develop every potential new source ofbusiness. Maine has so much to offer ineco-tourism, the great outdoors, and all ofthe activities associated with our forests,lakes and seacoast. A perspective fromanother country as the students presentedgives us a view that we might notconsider otherwise. I think the board willadd this to its library of resources to helpbusiness get into the young field of eco-tourism.”

Another committee member, BowdoinCollege Economics Professor David Vail,said “if, as I hope, CenTRO’s AdvisoryCommittee launches a serious discussionabout eco-tourism quality labeling andcertification in Maine, then we will needto address several issues raised by thestudents.” For example, he said, thecommittee would have to decide how tocreate mutually beneficial relationshipsbetween eco-tourism ventures and localcommunities and how to ensure that theecosystem isn’t degraded and that local

cultures and residents experience thefewest negative impacts. The committeealso would be called upon to evaluate therole of eco-resorts as destination magnetsand determine how to train employees toensure the highest level of service quality,Professor Vail said.

Students said after the presentationthat they enjoyed relating theirecotourism experience to the CenTROadvisory committee.

“It was nice to see that the audienceappreciated hearing our perspective andthat it seemed to offer food for thought,”said Amy Sundberg. “It feels greatknowing our work could have aninfluence on how the tourist board makesdecisions.”

Providing information that couldinfluence public policy is “incrediblyrewarding and a testament to thetremendous value that the MaineBusiness School MBA program offers tothe state and the University of Maine,”said Nick Nadeau. ▲

want to work for us after graduation andwe get to see if we want them to workfor us after graduation. Meanwhile, theyhave the opportunity to learn how ourbusiness is run and we have theopportunity to groom someone who isless likely to be overwhelmed as a full-time assistant manager. It works outwell.”

Kevin Williams’09, who applied for asummer internship at Sherwin Williamsin Bangor through the UMaine CareerCenter’s CareerLink job postingdatabase,(http://www.umaine.edu/career/careerlink.html) now has a full time job withthe company managing the Yarmouthstore.

As an intern, Sherwin Williams“basically handed the reins to me,”Williams said. “It was my responsibilityto oversee all day-to-day operations so Icame away with a good understandingof all the really important stuff – how toorganize purchase orders, buildrelationships with customers andemployees, provide good service, andcontrol business expenses.”

Mark Castonguay ‘09 said heobtained some valuable practicalexperience as an intern with Hannaford

Supermarket in Bangor, also listed inUMaine CareerLink. “It’s nice to havethe classroom theory, but it’s entirelydifferent to actually see the numbers andimplement the strategies,” saidCastonguay, who was offered a full-timejob by Hannaford and now is a delimanager trainee at the Rockland store.

“Through my internship, I came tounderstand the ins and outs ofscheduling, budgets, payroll, inventories,and even dealing with customers. I gotan overall view of what it takes frommorning to night, week to week, andmonth to month to operate a business.My internship also gave me more insightinto what a career with Hannafordwould entail.”

Hannaford makes it a point toprovide interns with meaningful,challenging projects that require studentsto use their research, analytical,communication and leadership skills,said Nugent. “We make use of their fullpotential. But in our experience, UMainestudents enjoy any task we assign them.They are very grounded. They roll uptheir sleeves and aren’t afraid of hands-on work.”

Sherwin Williams also takesadvantage of interns’ abilities. At the end

of their stint, students are asked to makea presentation to managementrecommending ways that the companycan improve. “We’re looking for newideas,” said Pitts. “We figure that maybean intern will have new thoughts abouthow we can approach a problem.”

Internships can take place during theschool year or the summer. They can beany duration and they can be paid orunpaid. It’s up to you and the student todetermine the details. To provide aninternship or obtain more informationabout providing internships, contactCathy Marquez [email protected] or 581-1353. For more information about settingup a formal internship, includinganswers to legal and liability concerns,go tohttp://www.umaine.edu/career/employerservices.html. The Career Center ishosting its annual All Majors CareerFair on Wednesday, Jan. 27, at theStudent Recreation & Fitness Centerfrom 10 a.m. to 3 p.m. This is a greatopportunity for employers to talk to newgraduates seeking full-time employmentas well as undergrads and MBS studentsseeking internships. ▲

Jon Sorenson ’86, chair of the MaineBusiness School Advisory Board, wasgiven the first-ever “Marcus Urann

Leadership in Action” Award for his sup-port of the University of Maine at theboard’s Fall meeting at Point Lookout inNorthport. He was presented the awardby UMaine President Robert A. Kennedyand Dean John Mahon of the College ofBusiness, Public Policy and Health anddirector of the Maine Business School. “Iam very humbled to be given such a dis-tinguished award,” said Sorenson, a part-ner with Competitive Energy Services, aPortland, Maine-based energy manage-ment firm that helps institutions, indus-tries, and commercial and manufacturingcompanies procure and manage theirenergy. “My goal as a contributor isalways to help – help the university havesound economic policies as they relate to

energy, help improve the high level ofeducation already offered by the universi-ty, help attract students, and help alumniunite, reconnect, network, and, in time,give back to our great alma mater. I verymuch appreciate that President Kennedyand Dean Mahon have recognized theeffort that I have put forward.” CallingSorenson “a force of nature who brings atsunami-level passion to all that he does,”Dean Mahon said, “We are fortunate tohave him so committed to UMaine and tothe Maine Business School.” MarcusUrann, captain of the first UMaine footballteam, is largely credited with being themoving force behind the creation of PhiKappa Phi, the world’s largest honor socie-ty. Urann, an attorney and cranberrygrower, created the cooperative that laterbecame Ocean Spray Cranberries. ▲

MBSNews

Nonprofit Org.U.S. Postage

PAIDOrono, MainePermit No. 8

Maine Business School5723 Corbett Business BuildingOrono, Maine 04469-5723

www.umaine.edu/mbsnews

Jon Sorenson ’86 Receives First-Ever “Marcus Urann Leadership in Action” Award

Coming EventsFebruary: MBS faculty addressesethics across the curriculum in allcourses for one week.

Thursday, Feb. 11, 6-9 p.m.: World ofCoke, One Coca-Cola Plaza N.W.,Atlanta, Ga. Dinner with Dean JohnMahon and UMaine AlumniAssociation President Todd Saucier.Host: Patrice Krant, director, GlobalProcurement Best Practices

Friday, Feb. 12, noon: Wine CellarRestaurant, North Redington Beach,Fl. Lunch with Dean Mahon andTodd Saucier. Hosts: Paul and NanDesmond

Saturday., Feb. 13, noon: Polo Grill,Lakewood Ranch, Sarasota, Fl. Lunchwith Dean Mahon and Todd Saucier.Hosts: WBRC Architects/Engineers

Sunday, Feb. 14, noon: The ClubPelican Bay, Naples, Fl. Brunch withDean Mahon and Todd Saucier.Hosts: Honorable William and VivianTreat

March 1-3: Dean John Mahon travelsto Brussels, Belgium

Thursday, April 8, 5:30-7:30 p.m.:Boston Executive Club of theUniversity of Maine, CDM, 50Hampshire St., Cambridge, Ma.Presentation by Dr. Habib Dagher,director of UMaine’s AdvancedEngineered Wood CompositesCenter, on development of deepwater wind farms along the MaineCoast. Host: Richard Fox

Thursday, April 22, 9:30 a.m – 4 p.m.:MBS Advisory Board spring meeting

Thursday, April 22, 5-8:30 p.m.: MBSHonors and Awards Banquet, WellsConference Center

Tuesday, May 4, 5:30 -7:30 p.m.:Spring Reception, Portland, Me.Location: TBA

Saturday, May 8, 10:30 a.m.:University of Maine graduation

May 24-May 27: Dean John Mahontravels to England ▲

Jon Sorenson (center), member of the Maine Business School Advisory Board, receiving Urann Award. DeanJohn Mahon is shown on the left and President Kennedy is pictured right.

maine business school mbsconnects

Documents