quinnipiac business magazine spring 2011
DESCRIPTION
The Spring 2011 issue of Quinnipiac's Business Magazine. The magazine highlights news and haapenings throughought Quinnipiac University's School of Business.TRANSCRIPT
businessQUINNIPIAC UNIVERSITY
SPRING 2011
Minding Their BusinessesFast LaneIn the Cloud
Bullish on QUWall Street wizards in G.A.M.E. at 'The Bank'
When she graduated from Quinnipiac
in 2007 with a BS in finance and a
marketing minor, Meredith Richardson
stepped right into a two-year financial
leadership program with United
Technologies Corp., based in Hartford.
The program was designed to develop
essential executive skills by offering
participants a chance to experience four
different assignments within UTC’s
aerospace and commercial divisions.
After completing the program, she took
a position as a financial analyst for the
Black Hawk military finance division.
In that role, she is responsible for
planning, analysis and forecasting of
cash and aircraft revenue and costs.
Working with the pricing and contracts
departments, she sees all aspects of
Sikorsky’s multibillion dollar business.
Richardson helps recruit and mentor
new entrants into the leadership program.
Each fall, she conducts an information
session and talks to Quinnipiac students.
She stays in touch with those who have
entered the program, offering advice
and answering questions. She recently
participated in several School of
Business panel discussions in which
she offered job-hunting tips.
In addition to her involvement with the
School of Business, Richardson returns
to campus to participate in alumni
weekends and attend hockey games.
Meredith Richardson ’07
financial analyst
Sikorsky Military Systems
Stratford, Conn.
Sikorsky financial analyst Meredith Richardson ’07, above left,
meets with Matt Lesmeister ’10 and Milagros D’Elia ’10, from
United Technology’s financial leadership program. Richardson
enjoys helping students adjust from college to the working
world. “It’s the little things you learn on the job––anything to
make the transition easier,” she says.
Get involved!
business.quinnipiac.edu
COVER STORY
Bullish on QU pg.6
Giants of financial world convene at QU’s TD Bank SportsCenter for forum on global asset management BY STEVE HIGGINS
TRENDS
Working in the Cloud pg.14
More businesses drift toward digital solutions to access data, software BY ALEJANDRA NAVARRO
ENTREPRENEURS
Minding Their Own Businesses pg.18
Four alumni relate how ideas grew into careers BY LAWRENCE MOHR
Alumni share marketing strategies pg.4
Honing competitive skills pg.12
Advertising grad in the fast lane pg.13
business
6
SPRING 2011
22 Current ResearchProfessor Osman Kilic’s survey
finds hedge funds still popular
24 Students Making NewsProfessor and two students
defend microloans in D.C.
32 Making Connections
departments
14
18
features
2 Dean’s DeskSchool of Business ranked
among the best
25 Department News
26 GradNews & ProfilesDario Amicucci ’01
Noreen Murphy ’86
Don Block ’72
Vice President for Public AffairsLynn Mosher Bushnell
Dean, School of BusinessMatthew L. O’Connor
EditorJanet Waldman, MS ’09
Director of Publications and DesignThea Moritz
Assistant EditorAlejandra Navarro
Senior Graphic DesignerCynthia Greco
Manager of Photographic ServicesMark Stanczak
Contributing WritersSteve HigginsLawrence MohrDonna PintekStephen P. Schmidt
Photographers John DiromaSusan FarleyStan GodlewskiRobert LisakGale Zucker
Quinnipiac University275 Mount Carmel AvenueHamden, CT 06518-1908Tel 203-582-8200email: [email protected]
Quinnipiac University Businessis published twice a year—fall and spring—by the School of Business and the Office of Public Affairs.
Postmaster: Send address changes to Office of Development and Alumni Affairs, Quinnipiac University,AH-DVP, 275 Mount Carmel Avenue,Hamden, CT 06518-1908. Editorial offices are located at the Development and Public AffairsBuilding, Quinnipiac University.
Quinnipiac University admits studentsof any race, color, creed, gender, age,sexual orientation, national and ethnicorigin, and disability status to all the rights, privileges, programs andactivities generally accorded or madeavailable to students at the school.Quinnipiac University does notdiscriminate in these areas in theadministration of its educationalpolicies, scholarship and loanprograms, and athletic and otherschool-administered programs.
Follow Quinnipiac
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Twitter@QuinnipiacU
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The evidence is in. The School of Business
is one of the top undergraduate programs
in the country. Students, parents and
employers are increasingly looking for
proof of educational value, and the
Bloomberg Businessweek rankings are a
primary source of information.
The School of Business was ranked
among the top 100 undergraduate busi-
ness schools. The Bloomberg Businessweek
rankings are based on a comprehensive
analysis of admissions criteria, student
and faculty quality profiles, and classroom
quality measures, such as student-faculty
ratios and average class size; student serv-
ices; facilities; and the quality of graduate
business programs accepting our alumni.
Most important, they measure satisfac-
tion through comprehensive surveys of
both students and key employers. Inclu-
sion in the Businessweek Top 100 is a sig-
nificant recognition of the quality of our
programs and of the hard work, dedication
and commitment of School of Business
students, faculty and staff.
While rankings reflect the quality of
our programs, they don’t capture all of the
wonderful accomplishments of our stu-
dents and faculty. One of our most exciting
efforts over the last year has been the
inaugural G.A.M.E. Forum. Led by Professor
David Sauer and his team of 100 student
volunteers, this year’s Global Asset Man-
agement Education Forum included 92
keynote speakers, panelists, workshop pre-
senters, and student-managed portfolio
judges.
In addition to the speakers, G.A.M.E.
attracted more than 900 attendees repre-
senting 24 countries to the University.
Alumni were encouraged to attend as well,
and continuing education units were avail-
able. Next year’s G.A.M.E. Forum will take
place in New York City on March 29–31.
G.A.M.E. is not the only School of
Business conference this semester. Thanks
to the hard work of marketing professors
Blaine Branchik and Brian Jones,
Quinnipiac University and the School of
Business are sponsoring this year’s
Conference on Historical Analysis and
Research in Marketing (CHARM) on May
19–22 at the New York Helmsley Hotel.
CHARM provides a venue for leading
academics from around the world to share,
discuss and support research in all areas
of marketing history. Not to be outdone,
David Cadden, professor of management,
was the principle organizer of this spring’s
Association for Operations Management
(APICS) third annual Northeast District
Student Competition that took place on
April 16 on the Mount Carmel Campus.
We are delighted that the School of Busi-
ness is both a sponsor and a host of this
year’s competition.
I would be remiss if I didn’t
acknowledge our American Marketing
dean’s desk
Bloomberg Businessweekranks Quinnipiac amongtop 100 business schoolsin the nationMATTHEW L. O’CONNOR, DEAN
We are always looking forbusiness and industrypartners for student projects.If you have ideas for projectsthat might benefit yourbusiness or firm, pleasecontact us. Who knows whatour students can do for you?
matthew.o’[email protected]
SupportQuinnipiacRising
Help us preparefuture business
leaders seeking aQuinnipiac educationby making a gift to the School ofBusiness today!
Your contribution ofany amount provides exciting and essential support todeserving students who truly value your assistance.
Log on to www.quinnipiac.edu/give.xml or send yourdesignated contribution to Melinda Formica, director ofdevelopment, School of Business, 275 Mount CarmelAvenue, Hamden, CT 06518-1908.
[email protected]; 203-582-3735.
business.quinnipiac.edu
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Association student chapter for the
wonderful job it did hosting its first
regional collegiate conference. The full-day
conference was held in the School of
Business on Feb. 18 and featured several
executive guest speakers, panel
discussions and networking workshops.
Marketing students from several Northeast
colleges and universities attended.
Is there a better measure of educational
value than the successful application of
classroom learning to real-world
environments? Many of you know that our
business students have the opportunity to
manage a microloan fund targeting
residents of León, Nicaragua. Not satisfied
with their work in Nicaragua last January,
juniors Kristen Helms and Nicholas Marr,
along with their faculty adviser, Professor
Xiaohong He, traveled to Washington, D.C.,
in March. Working with the Connecticut
Community Investment Corp., they met
with the Connecticut Congressional
Delegation, members of the Small
Business Administration, and House and
Senate appropriations subcommittees to
lobby for continued microloan funding
here in Connecticut.
Our graduate students are just as
passionate about putting their knowledge
to work. Students in Professor Angela
Mattie’s Health Care Quality course
recently were asked to apply the theory,
methods and examples provided in the
course to practical and important health
care quality field projects. Seven successful
projects were delivered by student teams
to area health care providers making
contributions in such areas as catheter
safety management and in decreasing
patient wait times for radiology services.
As you can imagine, we are always
looking for business and industry partners
for student projects. If you have ideas for
projects that might benefit your business
or firm, please contact us. Who knows
what our students can do for you?
As always, thanks to our alumni for their
involvement, and thanks to the faculty and
staff in the School of Business for their hard
work, dedication, and enthusiasm. They are
the basis for all of our success.
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The benefits of networking hit home for
junior Kendall Keil at February’s American
Marketing Association Regional Collegiate
Conference.
The Quinnipiac student chapter of the
American Marketing Association hosted
the daylong event, which drew more than
80 students from Quinnipiac, Eastern
Connecticut State University, the Univer-
sity of New Haven, Western Connecticut
State University and Johnson and Wales
University.
“We wanted to become more active,”
said Julianne Aerts ’11, student marketing
chapter president. “After winning two
awards at the regional conference last
year, hosting a regional conference was
the next step for us.”
Keil listened to a panel of five recent
Quinnipiac graduates talk about their jobs,
then introduced herself afterward and
serendipitously met Janette Lopez ’08, MBA
’09, a regional marketing manager for
ARAMARK, the corporate food vendor.
The two realized they may be working
together this June—ARAMARK is providing
food for the Travelers Championship golf
tournament in Cromwell, Conn., and Keil
recently landed an internship with the
tournament, where she will work in
operations.
Getting acquainted before the tourna-
ment starts shows what can happen when
you network, said Keil, who has had three
internships already. “I’m trying to find my
niche,” she said.
Indeed, the five panelists strongly
suggested students take on multiple intern-
ships as well as network regularly with
industry and school contacts. “Get as much
experience as you can before you gradu-
ate,” said panelist Meredith Richardson ’07,
a financial analyst with Sikorsky Aircraft.
“Find out what’s out there.”
Emily Bloomfield ’06, a strategic pro-
posal consultant with Aetna, suggested stu-
dents join industry organizations and go to
alumni events sponsored by the University.
The panelists also advised students to:
• Gain leadership experience and time
management skills by taking on execu-
tive positions with on-campus clubs.
• Keep an open mind regarding the type of
work they would be willing and able to
perform.
• Realize they might not land their ideal
job right out of college.
The other panelists were Kimberly
Gerdis ’07, a research analyst with
Travelers, and Bobby Emamiam ’09, co-
founder of Prolific Interactive, a new-
media company.
Blaine Branchik, associate professor of
marketing and faculty adviser to the AMA
chapter, said the regional conference was a
“marketing reality day” for the students.
“They are learning how they will use the
things they learn here in the business
world, and what it’s like to get a job in
marketing,” he said.
David Eldredge, field marketing man-
ager for Massachusetts-based Dunkin’
Brands Inc., the parent company of
Dunkin’ Donuts, shared with students how
the company has changed its brand iden-
career
Alumni and othersshare marketing,networking strategieswith students BY STEVE HIGGINS
Emily Bloomfield ’06 gave students some pre-job hunt tips.
business.quinnipiac.edu
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tity over the years as consumer prefer-
ences evolve.
“The word ‘donuts’ is in our name, but
we’re not all about doughnuts,” he said.
Dunkin’ Donuts was established in the
1950s as a place to sit and relax while
enjoying donuts, but that began to change
in the early 1990s; now, 65 percent of the
chain’s business comes via the drive-
through window, and coffee has become
the primary product.
Eldredge showed the students how the
company has changed its logo over the
years, reducing the size of the logo’s
doughnut several times, adding a coffee
cup in the 1980s, and then increasing the
size of the coffee cup.
“Marketing is about brand relevance:
How will your products and services meet
consumer needs, and how well does your
brand relate to your customers’ lives?”
Eldredge said. He noted that the com-
pany’s marketing officials often refer to
the “4 Ps” of marketing, which the stu-
dents are now learning: products, position-
ing, price and promotion.
Rob Wilker, director of profit building
and local marketing for Milford, Conn.-
based Subway, said the sandwich maker
also is guided by consumers. As Subway
has grown to include 35,000 franchises in
91 countries, the company has been will-
ing to try new things, from offering health-
ier meals to locating within Walmart
stores, hospitals, military bases and even
cinemas.
“We listen to our franchisees and their
ideas,” he said. For instance, the most
effective promotion in Subway’s history,
the $5 footlong sub, was started independ-
ently by a franchise owner in south Florida,
and Subway founder Fred DeLuca noticed
the promotion as he drove by the store
one day. Since the program was rolled
out in March 2008, Subway’s U.S. profits
have gone up 20 percent, Wilker said.
The program also illustrates an inter-
esting aspect of globalization, the fact that
promotions that work in one region often
bomb in another. The $5 footlong promo-
tion would never work in other countries
where portions are smaller, Wilker said.
In the United Kingdom and Ireland, for
instance, Subway offers a “Sub of the Day”
promotion.
Other conference speakers were
Debra Leipman-Yale, president of Arcade
Marketing, and Jill Ferrall ’94, MAT ’96,
assistant dean of career services at
Quinnipiac.
Five QU alumni returned to campus to participate in a jobs panel at a regional conference hosted byQU’s American Marketing Association student chapter.
Professor Blaine Branchik with former students Meredith Richardson ’07 of Sikorsky Aircraft,center, and Janette Lopez ’08, MBA ’09 of ARAMARK.
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cover story
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National Association of Realtors. Jeffrey
Kleintop, LPL Financial’s chief market
strategist, served as moderator.
They were among 14 top leaders in the
financial industry to interact with students
on March 31, the first day. On day two, stu-
dents and faculty participated in breakout
sessions and workshop presentations on
the Mount Carmel Campus with other
well-known investment professionals. The
forum concluded on day three with morn-
ing sessions that focused on careers and
academic program development.
The G.A.M.E. forum attracted an
international group of students, faculty,
alumni and business professionals, with
more than 900 attendees representing 24
countries. Schools in attendance included
Colorado State University; Concordia
University, Montreal, Canada; Fordham
University; Rice University; Villanova; Cal
State, Long Beach; Pace University; North-
eastern University; University of Toronto;
and Indiana University to name a few.
“The G.A.M.E. Forum provided an inter-
national group of students and their fac-
ulty mentors with rare access to a group of
well-known industry leaders as they dis-
cussed the economy, alternative assets,
stock markets and corporate governance,”
said David Sauer, the founder, managing
director and program chair for G.A.M.E.
Sauer, a professor of finance, added,
“Industry support for the conference is
extremely strong as reflected in the 68
companies that provided 92 keynote
speakers, panelists, presenters and judges
for this year’s program.”
Sauer is already busy planning next
year’s forum, which will take place in New
York City March 29–31 at the Sheraton
New York Hotel and Towers.
Both Silvia and Swonk emphasized
the need for training and education if
Americans are going to compete with the
growing middle class and working class in
developing countries such as China and
India. Swonk noted that the United States
was the No. 1 country in the world in the
1970s in terms of the percentage of high
school students who went on to college,
but has fallen to No. 12.
Kleintop asked the panelists what
effect rising U.S. debt and deficits could
have on the economy going forward.
“The debt is already impacting the
On their
G.A.M.E.The trio of economists who opened the
first Global Asset Management Education
Forum at Quinnipiac delivered a hard-
nosed message on the No. 1 topic on most
Americans’ minds today––jobs.
“Economic transitions are always
tough, and many of the jobs we’ve lost
aren’t coming back,” said John Silvia, chief
economist of Wells Fargo Securities, in
response to a student’s question about the
need for a social safety net. “People have
to move on.”
Those who have lost jobs in industries
imperiled by technology or globalization
must seek out the training and education
they need to transition into other areas,
Silvia said.
The opening panel at the three-day
conference took place in the basketball
arena of QU’s TD Bank Sports Center. Silvia
was joined by Diane Swonk, chief econo-
mist at Mesirow Financial; and Paul
Bishop, vice president of research for the
Giants of financial world convene at Quinnipiac for forum on global asset management | BY STEVE HIGGINS
From left, economists Paul Bishop, John Silvia,Jeffrey Kleintop and Diane Swonk on stage at Quinnipiac’s TD Bank Sports Center, the venuefor the first G.A.M.E. forum.
8
economy,” said Silvia. “We knew the baby
boomers were going to retire––there was
no bubonic plague or World War III, so a lot
of us survived! Yet no one did anything to
prepare.”
Mounting debt will require an increas-
ing percentage of tax revenues to pay it off,
which will leave less money for social pro-
grams. All three panelists agreed it is vital
for the federal government to get deficits
under control and tackle the looming issue
of entitlement spending by reforming the
Medicare and Social Security systems.
Swonk suggested lawmakers take a serious
look at the recommendations of President
Obama’s recent bipartisan National Com-
mission on Fiscal Responsibility and
Reform, which last year offered a blueprint
for reforming the economy.
“We have not funded the promises we
have made, and this is an opportunity to
do so,” said Swonk, who supports lower
corporate and individual tax rates, the
elimination of deductions (such as the
mortgage tax deduction), the elimination
of agricultural subsidies, and raising the
age of eligibility for Social Security benefits.
Silvia also supported lower corporate
tax rates to bring jobs back from overseas,
noting that the United States has one of
the highest corporate tax rates in the
world. The No. 1 issue for businesses,
according to Silvia, is the lack of certainty
about where government spending and tax
policies are headed.
Bishop said housing accounts for 15
percent of the U.S. economy, so the contin-
uing fallout from the housing collapse is
holding back the recovery and job growth
alike. “Until the jobless rate comes down,
we’ll still see a poor housing market in
many regions,” he said. “It’s improving,
but the housing recovery is pretty fragile.”
Bishop cited a growing gap between
regions of the country where the housing
market is doing OK and regions marked by
high foreclosure rates. “I fear there will be
too many people left behind,” he said.
Once students began asking questions,
the panelists took a more positive
approach. For instance, Amanda Leggio
from Villanova asked how the United
States can compete with China, and
Swonk answered that the U.S. is still
strongly innovative and entrepreneurial.
“Creating new businesses is one of our
strengths,” Swonk noted.
Silvia agreed that the United States
remains competitive in many areas,
including manufacturing. “We are export-
ing great stuff, but we’re not employing
many more people to do it,” he said. “We
are very competitive in value-added man-
ufacturing, finance and capital markets,
and health care.”
“They offered some real insights. It’sgreat seeing them live rather thanon TV, and they had a chance tomake a more in-depth presentation.”
—Anthony Salerno ’97
Eric Belgard ’11, right, questioned panelists along with students Brian Christner of the University ofMinnesota-Duluth and Amanda Leggio of Villanova University.Q
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Bishop said the long-term outlook for
the U.S. economy is good because it has a
growing, productive population, unlike
many other countries. “Demographics are
destiny, and both China and Europe have
older populations than the U.S.,” he said.
Quinnipiac alumnus Anthony Salerno
’97, a financial adviser from Stamford,
Conn., said the University assembled a
great panel of speakers for the economy
session. “They offered some real insights,”
he said. “It’s great seeing them live rather
than on TV, and they had a chance to
make a more in-depth presentation.”
Jessica Warden, a senior finance major
from the University of Colorado, said she
learned a lot about the overall economic
picture. “It was really interesting, espe-
cially the discussion about the housing
market,” said Warden, who came with a
group of 12.
Quinnipiac accounting major Jacqueline
Montone ’11 said the conference provided
a great chance to hear from people who
have been successful.
That’s a major reason why Marcus
Ingram, associate professor of finance at
the University of Tampa, brought two of
his students to Quinnipiac. “They see how
financial professionals speak and act,”
he said.
Robert Porter, assistant professor of
finance, quipped, “You cannot get any
more real-world than these people.”
University of Maine finance professor
Robert Strong agreed. “Maine is a rural
state, and attending these conferences
allows my students to rub shoulders with
students from bigger schools,” said Strong,
who brought 10 students.
The economy was the first of four
topics to be explored, followed by
alternative assets. The second panel
featured Joseph Battipaglia, market
strategist at Stifel Nicolaus; Philip Guziec,
editor of Morningstar OptionInvestor; and
Tobias Levkovich, chief U.S. equity
strategist at Citi Investment Research.
Battipaglia, a fixture on CNBC and other
media outlets, got the ball rolling by stat-
ing that the opening of foreign markets
brings “a whole new ballgame” to U.S.
business.quinnipiac.edu 9
Pros and cons of risk explainedWhen times are good, investors and business owners naturally take
more risks. In the short run, results can be positive; in the long run, risk
can lead to overheated markets and the economic crisis the nation has
experienced over the last three years.
In his talk on “The Cost of Capitalism,” Robert Barbera explored ways
the Federal Reserve Board could lessen the effects of this boom-and-bust
cycle on the economy.
“One of the costs of capitalism is that periodically, when everybody’s
made a bet with a lot of leverage and it starts to come up wrong, we have
panic in the banking system,” said Barbera, chief economist of Mount
Lucas Management Corp. and a
fellow in the economics depart-
ment at Johns Hopkins University.
“Risk becomes so large that all
we need is a small disappoint-
ment, and the risky finances we
have in place can’t handle it,”
he said.
The government cannot afford
to allow the banking system to
fail, so lawmakers have little
choice but to step in and rescue
the nation’s major financial insti-
tutions. However, that encourages
financial firms and investors to
take on more risk because they
know the government provides a
safety net, a situation known as
“moral hazard.”
Without that safety net, Wall
Street might be more likely to
back away from large risks after
several years of economic expan-
sion, as recessions hit every
seven to nine years, Barbera said. Human nature plays a role as
well––investors hope they will reap the gains of expansion years before
getting caught in recessionary tailwinds.
Barbera believes the Federal Reserve could help smooth these economic
ups and downs by focusing on asset prices as well as inflation. “The cen-
tral bank can’t pretend that all it has to target is inflation,” he said. “The
Fed was responding to asset prices when they were going down, but it
never did when they were going up. That’s dangerous.”
The Fed should consider tightening monetary policy when asset prices
rise, not just when inflation occurs, he suggested.
Barbera approvingly quoted former Fed Chairman William McChesney
Martin Jr., who said, “I’m the fellow who takes away the punch bowl just
when the party is getting good.”––Steve Higgins
Robert Barbera of Mount LucasManagement
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investors looking for ways to increase
returns or hedge risks.
To capitalize on the expanding growth in
foreign markets, Battipaglia recommended
investing in large multinational companies.
“They know how to find growing markets,
and they can move their facilities around
the world,” he said. “Let them manage the
risks of investing in China and other
emerging markets.”
Guziec and Levkovich both warned
students against the current craze for
investing in gold and silver.
“Gold has been a poorly performing
asset over the years,” said Levkovich. “It
doesn’t pay dividends, and you have to pay
carrying costs. If you buy it solely for
insurance, that’s OK.”
Guziec said currently, gold and silver
investing “has all the characteristics of an
asset bubble. It’s not an investment; at
best you get an inflation hedge.”
As for more exotic forms of alternative
investment, the panelists warned that most
can be dangerous unless you are a profes-
sional money manager. “You can make big-
win bets in the equity options market, but
you can’t do it consistently,” Guziec said.
Investment vehicles, such as options
and futures, provide valuable tools for
money managers of large portfolios but
are not a good bet for individual investors,
he said.
One student asked what strategy
investors should take over the next year in
light of the political turmoil in the Middle
East and the multiple crises in Japan.
Guziec said the only way to minimize
the risks inherent in global investing—or
any type of investing—is to think long
term rather than investing with an eye
toward immediate profits. Levkovich
agreed, saying, “Risks are always out there,
in every era.”
Another student insisted that tighter
government regulations could protect
investors from risk, but the panelists dis-
agreed. “Markets tend to find ways around
regulations, and regulations generate a
false sense of security,” Guziec noted.
Mike Burke, a junior majoring in
finance at Western New England
University in Springfield, Mass., said he
is interested in the growing importance
of exchange-traded funds and in
alternative investments.
“Either you win big or you lose big,”
he said. “I think individual stock picking
is still the way to go. You get the exposure
that you want.”
In an afternoon session moderated by
Guziec, panelists discussed the U.S. stock
market.
The forum attracted 900 attendees from 24 countries.
Above right, G.A.M.E. Forum founder andmanaging director David Sauer, center, withpanelists, from left: Tobias M. Levkovich, PhilipGuziec, Sauer, Jeffrey Kleintop and Joseph V.Battipaglia.
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“The U.S. market is a little more
attractive to the world right now,” said
Richard Bernstein, Chief Executive Officer,
Richard Bernstein Advisors, LLC.
He shared the stage with Ronald H.
Muhlenkamp, CFA and founder and
president of Muhlenkamp & Company,
Inc., and Louis G. Navellier, chairman, CEO
and CIO of Navellier & Associates, Inc.
While emerging markets continue to
grow, so does the inflation rate in each of
those countries. Brazil has an inflation rate
of about 5 percent, while India’s inflation
rate is between 9–15 percent.
“We think of inflation as the value of
our money going down,” Muhlenkamp said.
Panelists also said that borrowing to
buy well-priced stock isn’t always
profitable, noting that an investor would
need at least a 9 percent return to make
up for the 6 percent it costs to borrow.
Panelists noted the importance of
continuing to learn about the market and
the factors that influence it. Muhlenkamp
said much of what he understands today
was not apparent when he sat in a college
classroom.
“At least half of what you’re taught will
prove to be nonsensical,” he said. “You’ll
spend the next 40 to 50 years trying to
figure out which half.”
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Economist predictsboom-and-bust cycleswill persistAs the world emerges from an
economic downturn, students
who major in finance and
economics will enjoy a wide
range of career options,
according to Robert Goodman,
one of the keynote speakers at
the Friday portion of the Global
Asset Management Education
Forum.
“The opportunities for
someone taking courses in
finance today are outstanding,”
said Goodman, an economic
consultant for Putnam
Investments and a regular guest
on CNN and CNBC. “Wall Street is
always looking for innovative
people, and it’s more important
than ever for the government to
hire economists.”
Goodman discussed economic
cycles of boom and bust in his talk,
“The Emerging Economic Environment: Renaissance or Relapse?”
“I’d say there is a better than 50 percent chance we’re in a long
malaise,” he said, explaining that boom-and-bust cycles result from the
incompatibility of the capitalist economic system and the democratic
political system. “Capitalism tries to use resources in the most efficient
manner, but we have a democracy in this country, and we try to use
resources in a socially desirable way,” he noted.
When the nation allows capitalism to operate freely, as it did in the
1980s and 1990s, resources are allocated efficiently and markets grow, but
wealth distribution gets skewed toward the upper end. People then
demand a fairer distribution of wealth, but that results in less efficiency,
less growth and flat markets, according to Goodman.
“We’ve given this current government a mandate to redistribute wealth
in a more socially desirable way,” Goodman said. “The outcome is
predictable—less production, higher unemployment and higher inflation.
And the equities market will not do as well.”
Stimulus spending by the Bush and Obama administrations was the
right response to the economic crisis and helped avert a fiscal meltdown,
Goodman said. But now it’s time for policymakers to focus on the nation’s
long-term economic problems—sky-high budget deficits and costly social
entitlement programs, he said.—Steve Higgins
Robert Goodman, Putnam Investmentsconsultant
Louis G. Navellier speaks with QU students.The CEO of Navellier & Associates edits fourstock advisory newsletters.
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If anyone thrives on competition, it’s got to
be Eric Belgard ’11. The finance and eco-
nomics double major competed in four
major contests this academic year while
also making time to serve as president of
the School of Business Investment Club.
Business students participate in about a
dozen regional and national competitions
each year, going up against such universi-
ties as Yale, Harvard, Princeton, Dartmouth,
Brown and MIT.
“Competing gives me experience I can’t
find in a textbook,” said Belgard, citing last
fall’s Fed Challenge regional contest in
Boston as an example. “We did fairly well,
losing in a preliminary round to the team
that actually won the national champi-
onship,” he said.
The competitions also serve to spotlight
the increasing caliber of students enrolled
in the School of Business. Quinnipiac was
ranked No. 91 on Bloomberg Business-
week’s Best Undergraduate Business
Schools 2011 list, the only Connecticut
school recognized.
Belgard and his Fed Challenge team-
mates (Eric Grabowski ’12, Tim Kurowski ’11,
Chris McGuire ’12 and Bridget Todd ’11) had
to bone up on current events affecting the
economy to make recommendations to the
Federal Reserve Bank of Boston economics
staff about monetary policy. “It forced us
to understand how the economy works,”
Belgard said.
For the Investment Research Challenge
sponsored in February by the New York Soci-
ety of Security Analysts, or NYSSA, Belgard,
Todd and teammates Ryan Maloney ’11,
Nick Napolitano ’11 and Evan Pawelk ’11
made a presentation to Wall Street finan-
ciers on whether to buy, sell or hold stock in
a utility company. “They tried to poke holes
in our arguments to make sure we under-
stood what we were talking about,” recalled
Belgard, who is considering an employment
offer from Morgan Stanley.
Finance Professor David Sauer, their
adviser, said, “The finance industry is very
competitive, and these contests are good
confidence builders.”
Sean Reid, associate professor of
finance and former NYSSA adviser, said,
“People step up their game when there is a
perceived competition.” Belgard’s third
major competition took place in Toronto,
Canada, in February, where Professor
Osman Kilic took the team for the Interna-
tional Trading Competition. “We had to
think on our toes, making high-frequency
trades on the basis of a newsfeed on our
laptops,” Belgard said.
QU’s team (which also included Bradley
Cronister ’11, Maloney and Napolitano)
came in 17th of 50 in the algo-trading cate-
gory, and many of the competitors fielded
teams composed of graduate students.
Kilic described it as a “who’s who of busi-
ness schools.”
“These opportunities give our students
something to differentiate themselves both
on resumes and on job interviews in this
competitive market. They can talk about
competitions they’ve been in and be one
step ahead of other applicants,” Kilic said.
Other competitions in which students
compete include the APICS Northeast Dis-
trict competition (Advancing Productivity,
Innovation and Competitive Success); the
National Student Advertising Competition;
the AITP (Association of Information Tech-
nology Professionals) and the IT Case Com-
petition. MBA students compete in the ACG
Connecticut Cup Competition hosted by
the Connecticut chapter of the Association
for Corporate Growth.
“When students compete, they take
ownership of knowledge and push their
ideas beyond an academic exercise,” said
David Tomczyk, assistant professor of man-
agement. Tomczyk collaborated with jour-
nalism instructor Brett Orzechowski to
plan the first Media Innovation Collabora-
tive (MIC) Competition that took place April
through May. In contrast to its predeces-
sor—the QU Business Plan Competition—
the new contest mandated that student
business plans incorporate new media as a
key component of their business. And, for
the first time, communications students
and business students were encouraged to
form interdisciplinary teams.
While awaiting the MIC finals in May,
the team of Ben Wald ’11 and Morgan Zoll-
man ’12 decided to enter the Connecticut
Business Plan Competition in April and
walked away with the prize for the best
business venture. Their business, My Kidu-
cation, converts current events into inter-
active children’s stories for iPad and tablet
deployment. They bested 15 other graduate
and undergraduate teams from universities
across the state and collected $3,500.
Students hone competitiveedge outside classroom
NYSSA team members, from left: Evan Pawelk, Eric Belgard, Ryan Maloney, Nick Napolitano andBridget Todd, all Class of 2011.
business.quinnipiac.edu 13
Absolutely thrilling.
That’s how Amy Taub ’08 describes
zooming from zero to 189 mph in 7.2 sec-
onds, her record practice time in the shiny
black dragster she helped to assemble.
Taub of Setauket, N.Y., will begin
competing this summer for T&F Racing,
traveling to National Hot Rod Association
races in Maryland, Delaware, Virginia,
Pennsylvania, New Jersey and New York.
She has been involved with racing since
the summer after she graduated with her
bachelor’s degree in advertising. She joined
the crew at T&F Racing, which was
founded by her father, Timothy, who has
been building race cars for years. Growing
up, she and her two sisters had gas-pow-
ered go-karts “that probably went a little
faster than they should have,” Taub recalls.
Although her advertising major with
minors in history and management pro-
vided Taub with a great
education, she chose to
immerse herself in racing
for a while and think
about her next step. She
decided she would rather
sell important ideas than
products and embarked on
a totally different track,
pursuing a graduate
degree in international
public service and devel-
opment at Rutgers University in Camden,
N.J. She fits drag racing in between classes.
Taub, a licensed race car driver, and the
T&F team test and tune their Pro Mod cars
at Atco Raceway and Englishtown Race-
way, both in New Jersey. Because of the
inherent danger in the sport, she earned a
race car driver’s license after taking a
course in Florida her sophomore year.
“It’s a really cool thing to be behind the
wheel. The acceleration…it draws you into
the back of your seat. On a great run it feels
like the finish line is running toward me,
rather than me running after it,” she says.
But the truly impressive thing about rac-
ing is what happens off the track and under
the hood. “I’m constantly learning from my
team members and hope to acquire the
level of skill and precision that allows them
to build such fast cars,” she adds.
In October, she will move to Nicaragua
for a year to complete the last nine credits
of her degree. She will work with a non-
governmental organization called BuildOn
to construct schools for communities in
need as well as other community develop-
ment projects.
But racing will remain a passion. “As a
family business, it is also something that I
get to share with the people I love. I hope
to have the opportunity to keep racing for
a very long time.”––Janet Waldman
Advertisinggrad lives life in the fast lane
Amy Taub ’08 drives a hot rod.
technology
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A few days before any corporate board of
directors meeting, a heavy package usually
lands on the desks of board members. Sent
by overnight mail or messenger, it typically
includes a thick binder with hundreds of
pages of private company information that
executives must lug to the next meeting
for discussion.
Directors of corporate boards, who rep-
resent different companies, are reluctant
to exchange information through work or
private email accounts because the
accounts may have varying degrees of
security. Moreover, the size of documents
can make sharing via email difficult.
There is a third way. Some board mem-
bers are finding that they do their best
thinking “in the clouds.”
Companies, boards and organizations
are turning to “cloud computing” to store,
share and access data. Cloud computing is
a creative way to describe work done over
the Internet as opposed to on a desktop
computer. Cloud service providers house
clients’ data on their servers, provide soft-
ware clients can use online—in the cloud
—without being installed on a local com-
puter, and offer platforms that allow
mobile devices to access the information.
Interest in cloud computing has risen
for a few reasons: it’s convenient, it’s eco-
nomical, it increases efficiency, and it
meets companies’ ever-growing need to
More businesses drifting toward digital solutionsto access data, software | ALEJANDRA NAVARRO
Working in the CLOUD
store digital stuff. As a young industry, it
still faces challenges—the biggest one
being security, but that’s changing.
“As directors are becoming more
technically savvy and younger generations
are becoming directors, there is a push
to receive board materials online,” said
Joseph DiLandro ’05, eastern sales
manager for North America at
Computershare Governance Services.
“These companies have become more
comfortable with the security used in
cloud computing.”
His company offers several web-based
applications including BoardWorks.
Specifically for corporate governing boards,
BoardWorks is an application platform
designed to securely host and distribute
documents. Instead of transporting
cumbersome documents, the service
provides a collaborative online portal that
allows directors to securely access board
documents and collaborate with other
board members electronically.
Traditionally, companies have pur-
chased software licenses and maintained
the software in-house. Today, businesses
have a greater comfort level using software
hosted by a company as a service. Nearly
80 percent of Computershare Governance’s
new clients use the software it hosts, said
DiLandro, who graduated with a degree in
entrepreneurship.
Cloud computing is becoming an essen-
tial tool for many business professionals,
including DiLandro. He works in upstate
New York for the Shelton, Conn.-based
business. He and his sales team use
Cisco’s WebEx for online meetings and
salesforce.com to manage client informa-
tion. Documents remain in the cloud and
accessible via the Internet, not just on one
computer.
“I travel quite frequently, meeting with
prospective clients, and I need to have
quick access to information,” he said.
Google Docs is one of the most widely
used cloud services, providing a limited
amount of free storage and access to
online software for general users. Google’s
Apps for Business offers more advanced
features for companies. Well-known cloud
service providers such as Google,
Microsoft, AT&T and online sales giant
Amazon are facing stiff competition from
new and specialized cloud providers such
as Rackspace and Terremark Worldwide.
The demand for these services is strong.
From corporations and colleges to
schools and the family down the street,
everyone has more data: databases,
videos, photos and podcasts—and the
software programs to create and manipu-
late these files.
“Companies are starting to accumulate
more and more media files, and that is one
of the big problems,” said Thomas Morling,
father of Todd Morling, a first-year business
student. Morling is based in Topanga, Calif.,
and is a senior account executive for North
Plains, a digital asset management com-
pany specializing in managing media files.
Cloud computing is like storing data in
someone else’s locked garage—one that
can hold “petabytes” of data. A petabyte
equals one million gigabytes and it takes
about 1,000 megabytes (the size of a photo
is about 1 megabyte) to make one gigabyte.
Consider this: One petabyte is equiva-
lent to the information held in the books
of 1,000 large libraries. Although compa-
nies typically do not divulge the size of
their databases, eBay’s database is
expected to reach 20 petabytes by next
year, according to ZDNet.com.
Today, it’s easier to keep data in places
other than a personal hard drive. People
use Flickr and Shutterfly to store and
share photos and Digg to archive and rank
news stories. Others have ditched CDs and
MP3 music files altogether and turned to
Pandora, the online radio.
Likewise, many companies are turning
to cloud services to house and secure this
rising mountain of data.
Retro technology
The idea of renting server space is not new.
“Cloud computing is very similar to the
old time-share model,” said Morling. He
joined Intel in the mid-1970s and has seen
the technology industry transform over
the decades.
In the 1980s, large companies had
mainframe computers. People sent
requests for information, and the data was
manipulated on the mainframe. Smaller
companies purchased space on mainframe
computers.
The personal computer revolution that
followed moved work from the mainframe
to the desktop. PCs became more powerful,
16
and servers became more available. Com-
panies began buying servers to have com-
plete oversight over data. In the 1990s,
business became more global, the Internet
became more widely used, and mobile
devices grew in popularity. By the end of
that decade, companies were beginning to
offer data storage accessible over the
Internet, as well as platforms to access it.
“The beauty of the cloud is that any-
thing with a browser—from an iPhone to
your computer—can access information,”
Morling said.
Low costs in the cloud
More than ease, companies are flocking to
cloud computing because it’s cost effec-
tive. Buying and maintaining servers is
expensive, as is software and necessary
network security.
“Over the last 10 years, companies have
looked at cutting costs in all areas,” said
Bruce White, professor of information sys-
tems management. “It makes sense to out-
source what is not core to your business.”
A CPA who does not have the techno-
logical expertise to manage this area, for
example, could turn to a cloud provider,
said White.
When a company buys a server, it is
purchasing a set amount of data space
regardless of whether or not that space is
used. Using cloud providers, a company
can “rent” space on the server.
“You only pay for what you use; you
have elasticity of usage,” said Keith Levine
’09, MBA ’10, who works in assurance serv-
ices at Ernst & Young in Iselin, N.J. Today,
he uses cloud computing on the job to
share and simultaneously edit documents.
“If your company grows, you have the flex-
ibility to increase the space you’re using.”
With its wide network of connected
users, cloud computing makes it easier to
maintain software.
“The real cost is in the maintenance of
software—fixing bugs and producing
enhancements,” Morling said. “In cloud
computing, you can make those changes
once on the server, and everyone is
updated instantaneously.”
In some industries, it is critical to have
current software. Some corporate legal
departments, for example, rely on cloud
software because it is regularly updated
for industry changes, such as new SEC
regulations or tax codes.
Cloud computing can save on staffing
costs. A company using it may need just
one or two IT employees, instead of a
department, to oversee the data and the
service provider. Even as companies trim
IT positions, career opportunities exist at
cloud computing companies, as well as forQU
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Joseph DiLandro ’05 says convenience attracts many companies to avail themselves of cloudcomputing services.
puting sites offer services in exchange for
access to the information stored, which is
why users should be aware of what is
stated in user agreements.
Cloud providers aimed at corporate
America are aware of this concern.
DiLandro explained that Computershare
employees access only the backend of
BoardWorks—the technology behind the
browser—and do not have access to
encrypted content. Members of a corporate
board of directors, who are dealing with
sensitive issues, expect this level of
security.
Security is one of the reasons White
expects large cloud providers to prevail in
the battle for clients.
“Cloud computing will continue to
grow,” White explained. “The profitable
players will get larger, and the small play-
ers will go out of business or specialize in
specific industries.”
business.quinnipiac.edu 17
those who know how to manage data.
This spring, White is teaching Informa-
tion Systems Strategies, a graduate course
that discusses managerial issues in cloud
computing. Familiarity in cloud computing
should not be left to just IT professionals.
“It’s important that the CEO knows
what the cloud is and understands the
benefits and disadvantages of using cloud
computing,” White said.
Security challenges
Not being able to access data—or losing it
—is the most pressing concern for cloud
users, particularly for businesses that hold
personal and financial information. “Data
is the lifeblood of any organization,” said
White. Last year, he worked with Levine to
create a case example that highlighted
some of the managerial issues that emerge
when companies move from on-site
servers to a cloud provider. The Journal of
Cases on Information Technology has
accepted it for publication.
Companies need to find out if the cloud
provider has sufficient encryption, fire-
walls and other security controls, said
Levine, noting some of the conclusions he
found in the case study with White. “If
you’re a small company, you need to make
sure you do your due diligence on the
service provider,” he said.
Levine recommends diversifying
providers. To avoid problems if a cloud
service provider goes out of business, com-
panies could protect data by having one
company store data and another company
provide a disaster recovery plan or data
backup, he said.
In a cloud, data from multiple compa-
nies is housed in the same area. Levine
suggests asking the service provider how it
keeps data segregated. Reputable compa-
nies will be up front about the security
they have in place, he said.
White notes that some free cloud com-
business.quinnipiac.edu 17
Cloud computing is not only shaping
how people do business, but also the tools
we use. Desktop computers, for example,
may need to have fast processers to run
complicated programs, but may not need a
larger storage capacity as more data and
applications move from the hard drive to
the cloud, Morling said. Will there still be a
need for external hard drives, flash drives,
laptops or the already disappearing CD?
Cloud computing also is influencing
how companies and people use the infor-
mation being stored. Morling said he’s
eager to see what new ideas and solutions
—in both business and society—emerge
from the information sharing that now can
take place. He notes that social networking
sites, based on cloud technology, helped
spur the uprisings in Egypt.
“In the cloud,” he said, “people are taking
raw data and making it meaningful and
socially active.”
Professor Bruce White teaches a graduate course in which he discusses managerial issues incloud computing. Q
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entrepreneurship
OWNMinding their
businesses LAWRENCE MOHR
David Katz ’75 breaks in baseball gloves by hand for customers.
business.quinnipiac.edu 19business.quinnipiac.edu 19
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Put me in, coachDavid Katz ’75 is to baseball gloves what
Stradivarius was to violins.
The marketing major and owner of
Katz Sport Shop in Meriden since the
mid-70s knows how to break in a
glove properly. For nonplayers, “breaking
in” is taking a stiff piece of leather and
making it supple, an extension of a
player’s hand.
“I have developed my own Katz line of
premium-quality gloves for serious play-
ers. I break in each glove completely by
hand before it is sold,” Katz says.
He also offers a break-in service for
existing gloves. Although he markets
mostly to a youth audience, he has worked
his trade secret process for players and
celebrities, among them professional
sports agents Seth and Sam Levinson; Hol-
lywood producer Gary Ross; and Caroline
Kennedy (for her son).
HOW DID YOU GET STARTED?
Some years ago, I bought a small sporting
goods store from my brother and his
friends. As an active baseball player, I
focused primarily on a large inventory of
baseball gloves. Having broken in my own
gloves for years, I assumed everyone knew
how to do it. As an experiment, I decided
to break in a few gloves prior to selling
them, and everyone loved them. Over the
years I’ve become something of a “well-
known secret” and have developed a loyal
following encompassing the state of Con-
necticut as well as parts of Massachusetts
and New York.
AREN’T YOU KNOWN FOR YOUR
UNIQUE BUSINESS PHILOSOPHY?
I don't know if it’s unique, but it’s how I
would like to be treated. I insist on doing
business the old-fashioned way—person-
to-person with a minimum dependence
on technology. I have a website
(www.katzgloves.com), but customers are
asked to call me for the right glove. They
cannot order on the site; they have to talk
to me first. I refuse to be just another
Internet “superstore.” I treat each glove as
if it were my own.
WHAT ARE THE UPS AND DOWNS
OF YOUR BUSINESS?
I get to meet some great people who love to
talk baseball and sports. On the flip side, I
have difficulty with rude people who take
cell phone calls during a conversation.
WHAT ADVICE DO YOU HAVE
FOR FUTURE ENTREPRENEURS?
Try to do something that you really enjoy
and something at which you’re reasonably
good. But mostly, be true to yourself and
your own values.
Some 600,000 new businesses are launched in the United States annually.
Quinnipiac Business took at look at four diverse alumni businesses––from baseball
gloves to new media marketing––in various stages of growth. We asked our
alumni how they got started and what they can share about being entrepreneurs.
Charlene Chiaro ’88, right, chats with Jenna Block ’11, a marketing major who recently served as an intern for Chiaro’s event-planning business.
20
There’s no business like show businessCharlene Chiaro ’88 owns Clear Vision Pro-
ductions, LLC, a 3-year-old business that
produces popular “women-focused” expos
throughout New England. With more than
20 years’ experience in marketing and
sales, the marketing major has created a
successful business design. Prior to starting
her company, she was the associate pub-
lisher of New England Bride magazine for
10 years, during which time she produced
60 bridal shows. She also has held various
management positions with New Mass
Media, the Journal Register Company and
Summagraphics Corp. In 2009, Business
New Haven honored her as a “Rising Star.”
WHAT DOES YOUR
COMPANY PROVIDE?
We plan and produce a full evening of
entertainment, information and fun espe-
cially for women. In Connecticut, we are in
the process of producing our sixth “Fun
Girls Night Out” event at the Oakdale The-
atre in Wallingford, Conn. This event fea-
tures everything from a martini bar, wine
tasting, food sampling, mini-beauty
makeovers and fashion to fitness, health
and wellness, dancing and shopping. We
also give a portion of our night’s proceeds
to a charity that helps women and children.
WHAT IS YOUR ROLE?
We do everything from securing the loca-
tion, selling the booths, sponsors, enter-
tainment, coordinating the night’s sched-
ule, selling tickets, planning the advertis-
ing and marketing program, public rela-
tions, and then we manage everything the
day of the show.
WHERE DID YOU COME UP WITH
THE IDEA FOR YOUR BUSINESS?
It was an extension of what I was doing
as associate publisher of the magazine. I
grew up in a family-owned business, and I
always knew I wanted to run my own
company. I think it must be something in
your personality. My sister, for example,
has a fashion accessory business in New
York. Owning a business is either in you
or it’s not.
WHAT ADVICE WOULD YOU GIVE
TO QUINNIPIAC STUDENTS?
Without a doubt, do as many internships
as possible before you graduate. You simply
cannot understand a business unless you
have experienced it first-hand. In fact, I
now employ four to five Quinnipiac interns
each semester. Being an intern in a small
company allows you to gain experience
you would never receive elsewhere. And
don’t be afraid. I know it’s scary at first, but
take a risk. Even if you don’t get it right the
first time, stay with it. I believe taking a
risk is better than doing nothing. At the
same time, surround yourself with positive
people who believe in you. Have a vision
and keep working toward it every day.
Field of dreamsThe baseball field at Quinnipiac spawned a
friendship between Bobcats catcher Bobby
Emamian ’09 and pitcher Eric Weber ’08
that has morphed into a high-tech busi-
ness partnership. Emamian is the CEO of
Prolific Interactive in New York City, and
Weber is Prolific’s technical leader “on the
mound.” In college, they spent their off-
hours building websites for businesses
around the Hamden area. In April 2009,
they were working on websites out of their
Hamden office and created the Quinnipiac
University Athletics iPhone application.
Next, they brought Tyler Brett ’08,
another baseball teammate, on board. Hir-
ing QU student interns allows them to
grow their marketing and sales team, as
well as their design and development
efforts. They describe the business as a
full-service, new media digital agency that
offers mobile applications, social media
marketing campaigns, websites, Facebook
fan pages, augmented reality, and digital
design services. Besides Quinnipiac, their
clients include Scholastic, the Big East Con-
ference, the NBA, Yankees starting pitcher
CC Sabathia, AOL, MTV and XXL Magazine.
Emamian answers our queries, below.
HOW WAS YOUR BUSINESS IDEA
CONCEIVED?
We both liked technology: Eric was the
techie in interactive, and I was in business.
After I graduated (Eric had been working
for a year), we decided to take the risk of
starting a new company in web design and
development by pooling our money.
WHAT WAS IT LIKE AT FIRST?
Lots of peanut butter and jelly sandwiches.
Our first break came from QU Athletic
Director Jack McDonald with the iPhone
app. We began to work for clients beyond
Quinnipiac and continued to believe in
each other and our company.Bobby Emamian ’09 operates a digital media agency with former baseball teammate Eric Weber ’08.QU
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business.quinnipiac.edu
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AND THEN?
We learned how to manage a business
properly. With every challenge and failure,
we became better. We learned how to build
the best product possible for clients. The
rule of thumb is––don’t make the same
mistake twice.
WHAT WAS YOUR APPROACH TO
MANAGEMENT AS YOUR COM-
PANY GREW?
We wanted to duplicate the team feeling
we had in baseball. We learned to hire the
person who offered both particular expert-
ise but also fit into the interpersonal
dynamic of our team. We currently have a
team of seven.
WHAT DO YOU TELL WOULD-BE
ENTREPRENEURS?
First, learn to trust yourself. You learn bits
and pieces along the way, and they come
out when you need them. Build a team
that balances responsibilities and likes
working together. And persevere––the
game ain’t over until …well, you know.
Speaking in tonguesLauren (Festo) Villecco ’88 is president and
founder of Children’s World Languages,
Inc., in Cheshire, Conn. A stay-at-home
mother, she launched the federally desig-
nated 501(c)(3) foreign language academy
for elementary schoolchildren in 2008. Its
mission is to prepare students to engage in
an increasingly global society.
Villecco, who speaks French but does
not teach it, hires foreign language teach-
ers and scholars from area universities
who provide language instruction in Span-
ish, Italian, Latin, Mandarin Chinese,
Hindi, French, Farsi and Swahili. They use
a customized curriculum to present tradi-
tional academic exercises along with song,
games, arts and crafts and cultural les-
sons. Students learn both a new language
and a culture.
HOW DID YOU COME UP WITH THE
IDEA FOR YOUR BUSINESS?
I had great foreign language teachers in
middle school and high school, but a
school-sponsored trip to France absolutely
changed the way I looked at the world. I
believe that learning another language is
essential to a complete education, and I
know that early study is critical to fluency.
So when I had my children, I looked
around for a day care center or preschool
that offered another language. There were
none. It was evident that our public
schools were unable to provide elementary
foreign language because of time and
budgetary constraints. After canvassing the
community to determine interest, I joined
forces with a few good educators and in
2008, began classes.
YOU SEEM TO CONCENTRATE ON
YOUNGER CHILDREN.
It’s never too early—or late—to break
down cultural barriers, especially in our
changing world. The need is great for chil-
dren to learn fluency in other languages.
The Spanish-speaking population is the
fastest growing segment in the country,
and international commerce is the new
way of life. We teach children as young as
4 years of age. They go to their language
classes right in their school, directly after
school is dismissed.
DO YOU USE CONSULTANTS?
Our list of consultants includes the head of
the world language department at
Cheshire High School, the head of the for-
eign language department at a nearby uni-
versity and an individual with a doctoral
degree in Spanish education. We also have
developed a relationship with Programs in
International Educational Resources, or
PIER, of the MacMillan Center in New
Haven. Equally critical, we have an excel-
lent relationship with the Quinnipiac Uni-
versity School of Business, which has been
invaluable to us in terms of providing
highly qualified interns who assist with
marketing, communications, human
resources and accounting support.
WHAT ADVICE WOULD YOU GIVE
TO ENTREPRENEURS?
Surround yourself with ethical people who
are well versed in the disciplines that will
contribute to your success. When consid-
ering new hires, always look for “doers”—
people who have demonstrated initiative
and will go the extra mile. Networking is
critical. Always use your resources wisely.
Lauren (Festo) Villecco ’88, center, president of Children’s World Languages, with Spanish instructorMarilyn Sarria, a curriculum consultant at Highland School in Cheshire, Conn.
“First, learn to trust yourself. You learn bits and
pieces along the way, and they come out when you
need them.”—Bobby Emamian ’09
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faculty
research Kilic’s survey
shows hedge fundsremain popular
OSMAN KILIC
PROFESSOR OF FINANCE
OSMAN.KILIC@
QUINNIPIAC.EDU
Hedge funds have taken a beat-
ing in recent years: first for
making money off the ineffi-
ciencies of the market, and at
the same time, for not produc-
ing enough profit during the
economic downturn for
investors who are accustomed
to large, alpha returns.
Quinnipiac Finance Profes-
sor Osman Kilic, who gathered
the opinions of more than 100
major institutional investors in
a survey, has uncovered good
news for the hedge fund indus-
try.
“All findings indicate they
are all thinking about increas-
ing their investment in alterna-
tive investment products,” says
Kilic, who teaches Market
Microstructure and also Trading
and Financial Analysis and
Decision Making at Quinnipiac.
“Almost two-thirds of respon-
dents plan to increase their
asset allocation targets for
alternative investments over
the next 12 to 24 months.”
Kilic, associate director of
the Alternative Investment
Institute at Quinnipiac, joined
Kevin Lynch at Bank of America
Merrill Lynch and Bruce
McGuire JD ’91, president of the
Connecticut Hedge Fund Asso-
ciation, to complete an investor
survey in Fall 2010.
The survey found that
investors were not only contin-
uing to invest, but also looking
for returns that hedge funds
are known to provide. Hedge
funds are private, unregistered
investment pools that use
strategies to protect invest-
ments in a downturn and max-
imize profits in a strong econ-
omy. The hedge fund industry
has the flexibility to not only
“go long” and profit from an
increasing equity price, but also
profit on a short-term invest-
ment, Kilic explained.
McGuire said investors sur-
veyed want larger profits than
what can be expected based on
the stock performances listed
in indexes, such as the S&P 500.
“A report like this boils down to
the fact that a lot of institu-
tional investors don’t want to
pay money managers who are
just hugging their index,”
McGuire said.
Kilic surveyed 107 major
institutional investors—who
manage large funds that invest
for smaller funds or pensions—
from all over the globe, and
who manage about $2.1 trillion
in assets. In addition to the
electronic survey, Kilic con-
ducted 20 extensive phone
interviews with some of the
largest investors for specific
data.
The survey also found:
• Fewer than 25 percent of the
investors surveyed said they
would increase portfolio allo-
cations to common stocks or
fixed incomes, such as bonds
and government treasuries.
• About 55 percent of respon-
dents said they intend to
increase their direct alloca-
tions to hedge funds, while
only 5 percent of respondents
intend to increase their allo-
cations to funds of funds.
• The study indicates that of
the increase in money flowing
to hedge funds over the next
year or two, most will pour
into the Asia Pacific Rim.
The study took place before
Japan’s devastating earthquake
and tsunami, but Kilic does not
think those events will drasti-
cally change investor decisions.
He notes that in the future
Japan will likely spend a lot of
money for reconstruction of its
damaged cities, which will pro-
vide opportunities for
investors.
Currently, no one knows for
certain what will take place in
Japan or the effect on invest-
ments, said Kilic. “These funds
are long-term oriented, not
short term,” Kilic said. “Some
may panic, but overall, they will
remain on track.”
Osman Kilic
business.quinnipiac.edu
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ADAM AIKENAssistant professor of finance
Adam Aiken teaches Financial Modeling, a
course focused on solving financial prob-
lems such as firm valuation, portfolio opti-
mization and derivative pricing. Before
Quinnipiac, he taught at Arizona State
University.
His main research interests are invest-
ments and financial institutions. Currently,
he is examining hedge funds, their institu-
tional characteristics, and their perform-
ance as they continue to be an important
part of the financial system.
In August 2010, a paper Aiken co-
authored on the topic of hedge funds was
presented at the Securities and Exchange
Commission in Washington, D.C. His
research shows that hedge fund returns
reported to a database are greater on aver-
age than those not reported, and that com-
mercial databases are likely missing some
of the worst-performing funds. He points
out that when investors use common data
sources to decide whether or not to invest
with hedge funds, they can underestimate
the risks associated with their decisions.
Aiken earned a bachelor’s degree in
business administration and finance from
the University of North Carolina at Chapel
Hill, a master’s in economics from Duke
University and a PhD in finance from Ari-
zona State University.
ERENI MARKOSAssistant professor, marketing
and advertising
Ereni Markos teaches Integrated Marketing
Communications and Advertising Strategy.
She comes to QU from the University of
Massachusetts-Amherst, where she taught
courses in consumer behavior and market-
ing research while earning her doctorate.
Her research interests encompass con-
sumer privacy issues, both domestic and
international; social media; and sensory mar-
keting. Her primary research has focused on
consumers’ willingness to provide informa-
tion in the face of new technology.
Markos earned dual bachelor’s degrees
in business administration and English lit-
erature from the University of La Verne, a
master’s in integrated marketing communi-
cations from Emerson College and a PhD
in marketing from the University of
Massachusetts.
In 2010, her article, “Joe Camel: Post-
mortem of a Brand Spokesperson” (with
Marc Weinberger and Harlan Spotts) was
published in the International Journal of
Advertising. She has a forthcoming article
in the Journal of Interactive Marketing
titled, “Online Personal Branding: Proc-
esses, Challenges and Implications (coau-
thors Lauren Labrecque and George R.
Milne).
DAVID TOMCZYKAssociate professor, management
David Tomczyk teaches entrepreneurship
courses. He created and co-taught a class
that integrates communications and busi-
ness. He also advises the QU chapter of
Students in Free Enterprise.
He earned a bachelor’s degree in phi-
losophy, political science and economics
with a concentration in international justice
from Denison University, a master’s in eco-
nomics from Miami University and a doc-
torate in entrepreneurship and organiza-
tional behavior from George Washington
University.
For his dissertation, he explored
whether and how repeated exposure to
video games is correlated with entrepre-
neurial intent and traits. Before QU, he
designed and taught an undergraduate
entrepreneurship course at George Wash-
ington. He also worked at NASA in Wash-
ington, D.C., from 2004-10, most recently
as a senior policy analyst. He developed a
logistical program for addressing NASA’s
excess components from the retiring Shut-
tle program. He has published numerous
papers and book chapters on entrepreneur-
ship. His paper, “Do Successful Entrepre-
neurs Hire Like-Minded People?” (with J.H.
Lee and E. Winslow), was selected as a
Journal of Small Business Management
Best Empirical Paper finalist.
New faculty winding up first year
ADAMAIKEN
DAVIDTOMCZYK
ERENIMARKOS
new faculty
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As legislators searched for items to slice
from the federal budget in March, students
Kristin Helms and Nicholas Marr traveled
to Washington, D.C., to persuade them to
put money back, specifically for small
business microloans.
Helms, a junior marking major, and
Marr, a junior international business
major, joined Xiaohong He, professor of
international business, and representatives
from the Connecticut Community Invest-
ment Corp. to lobby for microlending fund-
ing. The Quinnipiac contingent met
staffers from the offices of Connecticut
congressional members Joe Courtney, Jim
Himes, Rosa DeLauro and Chris Murphy.
The group also met with SBA microlenders
to hear concerns about the budget debate.
“The people we spoke to were very
receptive,” Helms said. “As students, we
offered a different perspective. We were
fighting for microloans because it’s impor-
tant to society. We offered an unbiased
opinion on microlending.”
The students researched microloans in
the U.S. to prepare for the discussions, but
they have seen the benefits firsthand. As
participants in a School of Business inter-
national service trip, both Helms and Marr,
and seven other students, worked with
these small business owners in Nicaragua.
They counseled entrepreneurs on business
strategy and provided technical assistance
similar to the assistance provided by U.S.
microlending programs.
students making news Trio defends microloans in D.C.BRIEFS
This training is what’s on the cutting
block. President Barack Obama has pro-
posed slicing the SBA microloan program
budget from $25 million to $13 million.
The microloans are on average $12,000
and are given to small business owners
who do not qualify for traditional loans.
Many loan recipients have built successful
businesses, and in several cases, their
prosperity has had a ripple effect.
Helms recalled one example––a busi-
ness owner who transformed a warehouse
in Stamford, Conn., into a successful
antique and artist marketplace thanks to a
CTCIC microloan. The marketplace
inspired other entrepreneurs to start busi-
nesses nearby and provided an economic
boost to the area.
The professor said microloans have a
good track record. During the 2000-03
recession, employment grew nationally in
microbusinesses while it grew more slowly
or fell for larger employers, she noted.
The Quinnipiac students got a taste of
what takes place behind the budget battles
on the Hill. “They had an opportunity to
learn the political perspectives around this
issue and acted on what they believed
would help,” He said.
Restoring the microlending funding to
the budget did not seem likely, but Helms
said the experience exposed her to possi-
ble career options in microlending that she
previously had not considered.
––Alejandra Navarro
MARKETING AWARDSThe student chapter of the Ameri-can Marketing Association builton its 2010 success at the 2011AMA International CollegiateConference held recently in NewOrleans. The chapter won threenational awards––for outstandingprofessional development, out-standing chapter planning and its website, http://faculty.quinnip-iac.edu/AmMarkAssoc/index.html
APICS CONTESTTeams of undergraduate and grad-uate students competed in thethird annual American Productionand Inventory Control Society(APICS) Student Case Competitionin mid-April, hosted by the NewHaven and Boston APICS chapters.Management professor David Cad-den coached QU’s teams. For thecontest, the students received afictional case problem at 8 a.m.and were given until noon to pre-pare a solution. The teams thenmade nine-minute presentations,which were evaluated by industryexecutives. The graduate teamconsisted of Christopher Connell,Kyle Sleczkowski, ChristopherSwanson and Thomas Vara. Theundergraduate team consisted ofFrank Cirillo, Matthew Franklin,Taylor Jones and Stephen Vesce.Each team was fifth in its class.
CROSS-CULTURAL INTELLIGENCESenior Andrew Merrick, presidentof the International Business Soci-ety, presented his paper, “CrossCultural Affects on Total CulturalIntelligence” at the 11th Interna-tional Business Research Confer-ence at the University of NorthFlorida in February.
The paper, which was pub-lished in the conference proceed-ings, used subjects from theUnited States and France toexamine the impact of personal-ity, gender, and country of citizen-ship on an individual’s culturalintelligence.
ProfessorXiaohong Hewith juniorsKristin Helmsand NicholasMarr outsidethe WhiteHouse. Theyvisited law-makers tolobby for therestoration ofmicroloanfunding.
business.quinnipiac.edu
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department new
s
cis
ec
fin
mkt
acACCOUNTING Quinnipiac University and Professor Martin Gosman are in the Accounting Research Rankings
database developed at Brigham Young University. It includes universities with faculty members who have
had one or more research studies published since 1990 in any of 11 prestigious accounting journals.
COMPUTER INFORMATION SYSTEMS Professor Wendy Ceccucci is vice president of the education special
interest group of the Association of Information Technology Professionals and editor of the Information Sys-
tems Education Journal. She co-authored “The Role of Identification in Determining Student Attachment to
Chosen Professions: An Examination of Students in IT-Related Programs” in the Journal of Academic Admin-
istration in Higher Education (Fall 2010).
Students Craig Alexander, Abby Grover and Alex Leach competed in the Association of Information Technol-
ogy Professionals National Computer Conference in March in Orlando, Fla. CIS students also will compete in
the Travelers’ Undergraduate IT Case Competition next fall.
Rich McCarthy, associate dean, is vice president of the International Association for Computer Information
Systems and is the 2011 IACIS conference chair.
Professor Bruce Saulnier and Deborah Clark, professor of biology, authored, “Broadening the Role of the
Teaching & Learning Center: From Transforming Faculty to Transforming Institutions,” in the Journal for Cen-
ters on Teaching and Learning in 2010.
Ramesh Subramanian, the Gabriel Ferrucci Professor of Computer Information Systems, serves on the board
of directors of the International Information Management Association; is associate editor of the Journal of
Information System Security; and is a visiting fellow of the Yale Law School Information Society Project.
Subramanian published, “Security, Privacy, and Politics in India: A Historical Review,” in the June 2010
Journal of Information System Security, and “Reproducible Research” in Computing in Science and
Engineering in Fall 2010.
ECONOMICS Professor Mark Gius published, “Economic Freedom and Internet Use: A Cross-Country
Comparison,” in the Journal of Business & Economic Studies in Fall 2010, and “Health Insurance and Young
Adults: An Analysis Using the NLSY,” in the Atlantic Economic Journal in 2010.
Professor Matthew Rafferty and Dean Matthew O’Connor’s paper, “Corporate Governance and Innovation,”
recently was listed on the Social Science Research Network e-library’s top-10 download list for ERN: knowl-
edge management and innovation topics. The paper is forthcoming in the Journal of Financial and
Quantitative Analysis.
FINANCE Surya Chelikani, assistant professor, won the Outstanding Research Award at the Global Confer-
ence on Business and Finance in January. He co-authored, “The Impact of Sarbanes-Oxley on Market Effi-
ciency: Evidence from Mergers & Acquisitions Activity,” which was accepted for publication in the Interna-
tional Journal of Business and Finance Research.
Thomas Coe, associate professor, co-authored, “Investigation into Gender Perception toward Computing:
A Comparison between the U.S. and India,” in the International Journal of Information Communication and
Technology Education, and “Should Individual Investors Use Technical Trading Rules to Attempt to Beat the
Market?” in the American Journal of Economics and Business Administration in Fall 2010.
MARKETING The QU American Marketing Association Chapter won three national awards for outstanding
professional development, outstanding chapter planning and website at the AMA International Collegiate
Conference in March.
Ereni Markos, assistant professor, co-authored, “Joe Camel: Postmortem of a Brand Spokesperson,” in
the International Journal of Advertising in 2010.
MBA In March, students Kyle Sleczkowski, Christopher Swanson, Thomas Vara and Steven Woodhull
participated in the second ACG Cup Competition, in which students present an analysis of a potential
merger transaction. mba
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1940s NELSON BERNABUCCI ’47AS, founder of the Branford Hall
School of Business, celebrated
his 85th birthday by treating
his five grandchildren, ages 9 to
21, to a 10-day trip to southern
Italy in June 2010. All 11
members of the Bernabucci
family enjoyed the trip. He lives
in Branford, CT. 1950sEDWARD LEVINE ’58 AC of Glen
Allen, VA, is president of
Edward Levine Accountant Inc.
in Richmond, VA. He began the
practice in 1963. He is a
member of the National Society
of Enrolled Agents, Virginia
Society of Enrolled Agents,
National Association of Tax
Professionals and past
president of the Virginia
Society of Enrolled Agents.
He has lectured on the topic
of “Taxation of Sub-S
Corporations.” 1960s JACKSHEEHY ’69 MKT of St. Helena
Island, SC, owns Southern
Sweets in Beaufort, SC. He
presented “Starting a Small
Business as a Second Career”
at the Osher Lifelong Learning
Institute at the University of
South Carolina at Beaufort.
1970s EDMOND HENNESSY’71 MKT of Nashua, NH, is CEO
of Performance Marketing
Group. He is the author of
several reference books,
including: “Market Warfare:
Leadership & Domination Over
Competitors,” which was
selected by the Winner’s Circle
Series as the best marketing
work in its class for 2010. He
also was recognized by Dun &
Bradstreet for his innovative
market programs application.
DONALD BANKS ’72 AC of
Bethlehem, CT, is a senior
financial analyst at NV
Perricone, LLC, in Meriden, CT.
Dr. Nicholas Perricone is known
for his work in anti-aging
nutrigenomics, and NV
Perricone, LLC is a rapidly
expanding organization within
the cosmeceutical industry.
DANIEL BENZ ’74 AC of
Stanhope, NJ, a teacher of
educational technology at
Morris Knolls High School in
Rockaway, NJ, was named 2011
Teacher of the Year. THOMAS J.
GRACE ’76 MKT is a retired
senior executive with the
Vanguard Group. He is now
working with the National
Philanthropic Trust, a charity
that specializes in donor-
advised funds as a tool for
charitable giving. He lives in
Newtown, PA, with his wife,
ANN (O’CONNELL) GRACE ’77.
Their daughter, Kerry, works for
Dow Jones and son, Kyle, is a
junior at the University of
Richmond majoring in
economics. JOANNE LEKAS ’77
EC owns Happy Dog Behavioral
training in Waltham, MA.
Joanne has been a certified,
professional dog trainer since
2008, and offers private, in-
home training for clients with
new dogs or older dogs with
behavior problems. She also
teaches puppy classes, and
recently launched Puppy Coach
101 iPhone app, which provides
instruction and demonstration
videos for new puppy owners.
JOHN MCCARTHY ’79 MKT of
Uxbridge, MA, is vice president
of Bristol County Savings Bank
with branches in southeastern
Massachusetts and northern
Rhode Island. 1980s JAIME(ROTATORI) TRAJCEVSKI ’85 MKT
of West Hartford, CT, has
invented a new product called
The Medicine Organizer. GINA
(TUFANO) ALFEBY ’86 AC of
North Branford, CT, is director
of Human Resources at
Richemont, NA, in Shelton, CT.
DAVID TEDFORD ’87 CIS of
Billerica, MA, is an account
executive at Rentsys Recovery
Services in College Station, TX.
David received the Salesperson
of the Year Award in 2010—his
second time in three years. He
also received the Highest
Attained Quota Award in 2010.
DONNA (DURSO) PALMER ’89
CIS/MGT of East Haven, CT,
owns Sweet Creations LLC in
Branford, CT. The business,
which opened in 1999, makes
gourmet sweets baskets and
candy favors for all occasions.
She and her husband, Warren,
have two children. FRANK
JOSEPH RUBINO ’89 AC is vice
president at Rubino Brothers,
Inc., in Stamford, CT, where he
lives. 1990s GINA RAUCCI ’90MGT, MAT ’04 of East Haven, CT,
is a third-grade teacher at
Augusta Lewis Troup School in
New Haven. She has also
taught first grade. She made
the switch seven years ago
after 12 years in the business
world. MARTIN MEZZA ’91
FIN/AC, MBA ’93 is the owner of
Trusted Business Broker in
Norwalk, CT, where he lives.
In addition to business
evaluations and business tax
returns, the company
represents small business
owners who want to sell their
business as well as investors or
entrepreneurs interested in
acquiring businesses to
diversify their portfolios.
JOSEPH F. CELOTTO ’93 AC/ISM
news
AC Accounting ADV Advertising AS Associate’s Degree BUS Business Administration CIS Computer Information Systems EC Economics ENT Entrepreneurship FIN Finance
IB International Business ISM Information Systems management MBA Master of Business Administration MGT Management MKT Marketing MOL Master of Organizational Leadership
grad
continued on page 29
To most, hitting a pothole is a low light
of the day. To Dario Amicucci ’01, it’s an
opportunity to expand an already boom-
ing business.
Amicucci serves as the CEO and pres-
ident of Cold Mix Manufacturing, a
Flushing, N.Y.-based operation that has
blazed a trail with GreenPatch®, an eco-
friendly alternative to traditional cold
asphalt mix for pothole repair. The diffi-
cult winter the Northeast just experi-
enced was good for business.
The company produces 1,500 tons a
week and ships 35,000 bags of Green-
Patch per month in the winter. In
2010, it averaged 750 tons a week and
30,000 bags per month. The Cold Mix
client list includes the New York City
Department of Transportation, which
ordered 5,000 tons in 2008 and has
refilled that order several times over.
Currently it has contracts with trans-
portation departments and major util-
ity companies across the Northeast. In
addition, GreenPatch is available at
Home Depot in the tristate area and
Maryland.
“We knew we were onto some-
thing, but we didn’t think it was going
to grow this quickly,” said Amicucci.
After earning his management
degree, Amicucci went to work for his
family’s asphalt plant in Mount Ver-
non, N.Y., before leaving in 2006 to
start Cold Mix. He also has served as
the plant operations manager at
Cofire Industries in Flushing, N.Y.,
since 2005, advancing the company’s
business to a $6 million enterprise as
the main production facility for Green-
Patch.
Amicucci teamed with two others
from his family’s Mount Vernon plant
to create GreenPatch. Unlike tradi-
tional cold asphalt mixes, GreenPatch
uses plant-based solvents in the place of
diesel and other carcinogens that pose a
threat to the environment. Almost 25
combinations of plant solvents were
tested before the “right formula” was
produced in 2007. Then the real test
came from contractors themselves.
Some of them knew they were given dif-
ferent cold asphalt to try in various
applications, but others were given
GreenPatch blindly.
“We started receiving calls from the
contractors in the blind test. They said,
‘What did you guys do to the mix? ...
Our guys aren’t ready to pass out. There
are no odors coming off the material and
the performance seemed to improve a
lot.’ Right then, we knew we had some-
thing,” said Amicucci.
The product emits zero VOCs
(volatile organic compounds) and is now
using more than 50 percent recycled
asphalt product in the mix. Cold Mix
recently opened a larger facility in Patter-
son, N.Y., close to I-84, which will service
the increasing demand in the Northeast.
Amicucci lives in Armonk, N.Y., with his
wife, Jennifer, and their three children.
Reflecting on his days at Quinnipiac,
he remembers Dale Jasinski, associate
professor of management, commenting
that with a brand product, an entrepre-
neur should strive to be “the Rollerblade
of inline skates or the Kleenex of facial
tissues.”
“For us, it would be the GreenPatch
of the eco-friendly cold asphalt prod-
ucts,” he said.
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DARIO AMICUCCI ’01CEO, PresidentCold Mix Manufacturing
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Cosmetics giant Estée Lauder is in busi-
ness to make faces beautiful, but a face
of a different kind helps Noreen Murphy
’86 connect with their customers.
Murphy, vice president for global
special events, often uses the company’s
Facebook page for market research.
Recently, she posed this question: “What
is your worst makeup hang-up––the one
step that makes you late for work
because you just can’t get it right?”
“In 10 minutes, I got 154 responses—
that’s instant feedback from real cus-
tomers,” says the marketing major. The
majority cited eyeliner and mascara as
the culprits.
Facebook also offers Murphy another
platform to promote sales-related
events. A few years ago, she helped
plan and launch a popular program at
Estée Lauder store counters around the
world. Women were invited to enjoy a
free makeup application and then have
a photo taken and uploaded immedi-
ately to their Facebook profile page or
other social media networking sites. She
called it “Your Beauty, Your Style, Your
Profile.”
A large navy and gold chest rests on
a chair in Murphy’s office in Lauder’s
corporate headquarters on Fifth Avenue
and 59th Street, across from Central
Park. The chest is stocked with makeup
and fragrance samples for hands-on
inspiration as Murphy brainstorms mar-
keting efforts. She remembers always
wanting to work in the makeup business.
She saw her opportunity shortly after
Commencement, when she was a guest
at a QU friend’s graduation party and
met a mutual acquaintance who worked
in finance at Estée Lauder.
“Miss Lauder was such a successful
woman, and I admired her entrepreneur-
ial spirit,” Murphy says.
Murphy began in the finance depart-
ment in the company’s Melville, N.Y.,
office, auditing payment invoices for
counter sales associates. Sixteen months
later, she moved into sales administra-
tion, where she worked for the next
three years. During this time, she
wanted to educate herself about the
company’s products, so she took a part-
time job in the evenings selling them at
Abraham & Strauss, which is now
Macy’s. Her next promotion came in
1990, when she was made an account
executive. In 2000, Lauder merged its
international and domestic divisions,
and she was promoted to director of
global special events and vice president
several years ago.
Murphy regularly travels to China,
France, the United Kingdom, Hong
Kong, Korea and Japan to glean what is
relevant to international customers and
check out competitors’ products and in-
store events. In Asia, customers are
more focused on skin care than makeup,
she notes. Photos of her at China’s Great
Wall and Tiananmen Square, the Eiffel
Tower in Paris, and the Bullet Train in
Tokyo adorn her memo board. Her most
recent trip was to Barcelona, Spain, for
an event that introduced two new global
“spokesmodels” to Lauder executives
from around the world.
Her travels take her far from the
Northeast, but she declares, “I made the
best friends of my life at QU and I still
keep in contact with them today.”
Although she wears several hats, she
says, “My job is to make sure that as a
woman walks past makeup counters,
she wants to stop at ours, and once
there, we create that experience for her.”
NOREEN MURPHY ’86Vice president, global special eventsEstée LauderNew York, NY
By Janet Waldman
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AC Accounting ADV Advertising AS Associate’s Degree BUS Business Administration CIS Computer Information Systems EC Economics ENT Entrepreneurship FIN Finance
IB International Business ISM Information Systems management MBA Master of Business Administration MGT Management MKT Marketing MOL Master of Organizational Leadership
continued on page 31
of Guilford, CT, is a financial
adviser at Merrill Lynch in
Madison, CT. KAREN (FAUST)
SIM ’93 MGT/LEGAL STUDIES
was promoted to senior
executive project manager
at IBM in December 2010.
This promotion came after a
66-country project
implementation of a catalog
system for IBM. She lives in
Orange, CT, with her husband,
GREG SIM ’93, and their
daughter, Katie, 5. LOU COPPOLA
’95 AC is the owner of Under
Construction, LLC, in North
Haven, CT, where he lives. He
has been in business for 10
years, performing residential
and commercial renovations
and additions. LAUREN E.
ABBATE EC ’96, JD ’00 is a senior
associate attorney at the firm
of Ryan Ryan Deluca LLP, in
Stamford, CT, where she lives.
She was selected for inclusion
in the Connecticut Super
Lawyers Rising Stars list in 2010
and 2011. RICHARD MADONNA
’96 AC is CFO and vice
president of finance and
operations at Union
Theological, a 175-year-old
academic institution in New
York City, where he lives.
MICHAEL KASPAR ’97 MGT of
Long Beach, NY, is regional
sales manager for the
commercial building division of
Allied Building in Hicksville,
NY. He has worked on several
large construction jobs
including Yankee Stadium, Citi
Field and the renovation of
Madison Square Garden. HANK
PARKINSON ’97 MGT of
Ashburnham, MA, is director of
student development and the
campus center at Fitchburg
State University in Fitchburg,
MA. He completed his
doctorate in higher education
and leadership in 2007. He is
co-owner of LTE Consulting, a
small leadership consulting
business that is based in the
Northeast and offers leadership
and technology training to
college students and
professionals. COLLEEN KIRK ’99
MKT has joined Nestle as a
marketing manager, assisting
in the growth of the company’s
Gerber brand. She lives in
White Plains, NY. 2000sDAWN CUMMINGS ’00 MGT of
Hamden is a purchasing agent
for Space-Craft Manufacturing
Inc. in New Haven. SCOTT
MOULTON ’00 MKT works at
Capital Management Group in
Milford, CT, where he lives. He
was one of 280 financial
advisers, estate attorneys and
CPAs chosen for Connecticut
Magazine’s “2010 Five Star
Wealth Manager.” Scott and his
wife, Diane (Furtado) Moulton
’00, have three children: Claire,
Avery and Reid. NERMINA
(ORUCEVIC) KREHIC ’02 AC, MBA
’05, is a supervisor in state
income tax compliance at
United Technologies in
Hartford. She lives in Orange,
CT, with her husband, Ermin,
and three children: Jasmina,
Selma and Deen. LEAH NANKIN
’02 MKT of Quincy, MA, is
director of recruiting at
Cbeyond in Quincy. Leah
handles the Boston market
for the Atlanta-based
telecommunications company.
CHRISTOPHER M. SEMMELES ’03
EC of Jersey City, NJ, is assistant
controller at Och-Ziff Capital
Management in New York City.
JEFFREY DIBARTOLOMEO ’04 EC
of Fort Pierce, FL, teaches
economics at Indian River State
College. He earned a master of
science in financial economics
in August 2010 from Florida
Atlantic University in Boca
Raton, FL. GREGORY BROWN ’05
ENT is an account executive for
HubSpot, an inbound
marketing software company.
Gregory helps small and mid-
sized businesses transform
their marketing strategies.
SOKCHAN “SEAN” CHOUN ’05
AC/ISM, MBA ’06, spent more
than six years working at two
top public accounting firms. He
is now a manager of quality
assurance and compliance at
Yale University. He also is CISA
certified and a CPA candidate.
MICHAEL SANTORE, MBA ’05 of
Woodbridge, CT, is an associate
field examiner for Wells Fargo
Capital Finance in New York
City. RODGER WENZEL MHA ’05 of
Tampa, FL, is vice president of
medical economics at Coventry
Health Care in Bethesda, MD.
He directs the activities of
Coventry’s medical economics
and business reporting unit,
overseeing the independent
valuation of medical expense
performance metrics and
valuation of management
program initiatives, among
other duties. MARK ANTONUCCI
’06 MKT of Chandler, AZ, is
community director at Arizona
State University. He was
selected for the 2010–11
Dorothy Keller New
Professional of the Year award
from the National Association
of Student Personnel
Administrators. The award is
presented to a young
professional with less than five
years of service in the field of
higher education for superior
service, dedication and
contributions to the field.
BEATRIZ CARDONA HIDALGO ’06
ENT is president of SIGNARAMA
of New Tampa, FL, a franchise
she opened in February. She
Homecoming 2011 grad news
SAVE THE DATE
October 14–16, 2011
Highlights include MidnightMadness, DistinguishedAlumni Awards Brunch,Alumni Tailgate at TD BankSports Center, men’s hockeyvs. Canisius and brunch atthe spectacular Rocky TopStudent Center on the YorkHill Campus.
When Don Block, president of North-
East Electrical Distributors, joined the
electrical distribution industry, product
catalogs were fairly simple. Nearly four
decades later, his company offers more
than 30,000 products.
Many of those products are energy-
efficient, from LED fixtures and lamps
to lighting controls and solar panels,
says Block, whose company has 32
offices in six New England states. The
company also provides product and
design expertise for clients, who range
from electrical contractors to industrial
and institutional facilities managers.
The company is becoming increas-
ingly involved in solar and wind prod-
ucts. “We’re just scratching the sur-
face,” he says. “Now that the federal
government has committed to support-
ing clean energy, these initiatives will
continue to grow.”
Block walks the walk. Last year, he
relocated his company headquarters to
Brockton, Mass., and renovated the
building into a model of energy effi-
ciency. In this tough economy, he
wanted to help others be energy effi-
cient as well.
NorthEast Electrical Distributors, a
subsidiary of Sonepar USA, started the
Project Green Lights community sweep-
stakes. Public schools in the region vie
annually for a chance to win $50,000 in
energy-efficient lighting products from
NorthEast. The schools submit an essay
and the winning school—which is ran-
domly selected—is awarded the instal-
lation of energy-efficient lighting that
best meets the school’s needs. Project
Green Lights won the 2010 Best of the
Best Marketing Award from The Electri-
cal Distributor magazine.
The program started in 2007 as “Fri-
day Night Lights,” an effort to provide
lighting to New England communities
for their youth football fields. Impressed
by the community response, Block
decided in 2009 to move the program
from the playing field to the classroom.
He is especially proud of this endeavor.
“It’s an economic benefit for a
school system to save money on its
electrical usage,” Block says. “It’s also a
wonderful example of a green initiative
for young people.”
Block also takes the time to be
around young people, particularly those
who might head into the $60 billion
electrical distribution industry. He
recently discussed the industry and the
challenges of operational management
with students taking a class from Mary
Meixell, associate professor of manage-
ment. Block was impressed with the
Quinnipiac students’ focus on goals.
He embarked on his career without a
clear grasp of his ambitions. Having
attended Quinnipiac, where he was
goalkeeper for the soccer team, he said
he felt prepared for the business world.
Block began his career climb in a man-
agement-training program at Graybar
Electric Company, one of his current
competitors, and advanced to lead the
company’s New England division. Block
had worked for 32 years at Graybar, and
then retired. It didn’t take long for him
to return to the work force and take the
helm of NorthEast Electrical Distribu-
tors. At 60, he has no plans to retire.
But when he discusses the possibility
of retirement, in addition to spending
time with his wife and grandchildren, he
rattles off a few entrepreneurial ideas he
has percolating. “Even when you retire,
you really have to have a plan.”
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DON BLOCK ’72 PresidentNorthEast Electrical DistributorsBrockton, Mass.
By Alejandra Navarro
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has a back ground in sales. The
store offers custom-designed
banners, A-frames, vehicle
wraps and digital signage and
has almost 1,000 retail
locations worldwide. JOHN R.
MONICO ’06 FIN of North Haven
recently accepted a position as
vice president of sales for
Pawson Brokerage in Branford,
CT. JASON BARRATT ’07 IB
completed a six-month sales
training program at AT&T in
Atlanta, GA, before starting his
sales career at the company’s
Phoenix, AZ, site. After his first
year on the job, Jason earned
two prestigious AT&T awards.
He was a President’s Club
winner for having top sales
results in the West region in
the third and fourth quarters
of 2010. He also was the No. 1
seller in the AT&T sales
organization, making him a
Diamond Club winner. MEGAN
GIRARD ’07 MKT of New York
City is a member of the
integrated marketing team for
the Comedy Central brand at
MTV Networks in New York
City. KEITH JANG ’07 ENT is
president of KeeClean
Management Inc. in Shelton,
CT. KeeClean provides
commercial cleaning and
janitorial services to its clients
in Connecticut, New York, New
Jersey, Rhode Island and
Massachusetts. The company
is expanding its geographical
territory by adding California
and Georgia in 2011. RICHARD
KAIKA ’07 MGT is president of
Durham Fence Company Inc.
in Durham, CT, where he lives.
ERIC REIZIS ’06 FIN of New
Brunswick, NJ, is working on
the U.S. equity sales support
team at Barclays Capital in New
York City. BETH (SEMERARO)
BURDETTE ’07 MKT of Groton, CT,
is a marketing specialist at S&S
Worldwide in Colchester, CT.
PAUL WOLFER ’07 MKT of
Wallingford, CT, is marketing
director of Ground Up Inc. in
Naugatuck, CT. Ground Up is a
retailer of restoration and
performances parts for classic
cars. Paul is responsible for
growing the company’s
presence on Facebook and
Twitter. RHONDA DAY ’08 OL of
Manchester, CT, received
certification as a project
management professional in
December 2010. VICTORIA
DUANE ’08 ADV of Wallingford,
CT, is a marketing coordinator
at Dewberry, a leading
professional services firm in
New Haven. Victoria is
responsible for the preparation
of statements of qualifications
and proposals, as well as the
preparation of written and
visual materials for interviews
and client presentations to
develop new business for the
branch. ROBERT MACCHI ’08 FIN
is an assistant vice president at
Merrill Lynch. He handles
channel development for the
managed-solutions group.
KEVIN TOTH ’08 FIN recently was
promoted to senior financial
analyst at JPMorgan Chase &
Co. in Wilmington, DE. He was
married in August 2010 and
now lives in Philadelphia, PA.
JESSICA GADZIK ’09 ADV of
Middlebury, CT, is a manage -
ment representative for
EFC/Wesco in Waterbury, CT.
AREZOU HARRAF, MOL ’09 is a
full-time business instructor
for Box Hill College in Kuwait
City, Kuwait, a two-year
Australian college. In Fall 2011,
Arezou will begin a doctoral
program in technology
management at Indiana State
University. JANETTE LOPEZ ’08
MKT, MBA ’09 of Manchester, CT,
is the retail marketing program
manager at ARAMARK in
Bloomfield, CT, where she
manages marketing initiatives
for national accounts CIGNA
and Citibank. CHRISTINA MIELE
’09 MKT of Wilmington, MA,
recently began as an associate
in customer retention
marketing for Vistaprint, in
Lexington, MA. RIC WALLACE ’09
FIN of New York, NY, is an
associate at Deutsche Bank. He
was promoted from his former
position of analyst in February
2011. 2010s BLANKA BALAZS,MBA ’10 of Sfantu Gheorghe,
Romania, was accepted into
Statoil’s three-year rotational
corporate graduate program. In
January 2011, Blanka began a
rotation in the energy
corporation’s finance and
control department's
governance, risk management
and compliance group. LAUREN
MAHIEU ’10 MKT of Torrington,
CT, is lead assistant manager
of Abercrombie & Fitch in
Meriden, CT. MARK MILLER ’10 AC
of Hamden is a staff
accountant at Konowitz, Kahn
& Company, P.C. in North
Haven, CT. While at QU, Mark
served as founding president of
the Delta Tau Delta Fraternity,
Iota Mu Chapter. KRISTIN
(KRAMER) MILLS MS ’10 of
Charleston, SC, is a technical
consultant for Blackbaud, also
in Charleston. She began as a
conversion analyst at the
software company that
develops and supports
fundraising software for
nonprofit organizations.
CHRISTOPHER TUCKER ’10 MKT is
a sales representative for NFP
Property & Casualty Services in
White Plains, NY. GEORGE
VANVALKENBURG, MBA ’10 of
Cheshire, CT, passed Level I of
the CFA Examination in June
2010 and has been promoted to
investment analyst at Yale New
Haven Health System. LUKE
VIOLETTE ’10 FIN is a financial
adviser associate at Morgan
Stanley Smith Barney in West
Hartford, CT. LUKE JASON TICHY
’11 ISM is an IT-systems
engineer at Northeast Utilities
in Berlin, CT.
Graduate programs in the AACSB-accredited School of Business provide the skills you need to gain a competitive edge.
• Master of Business Administration• MBA-Chartered Financial Analyst Track®
• MBA-Supply Chain Management Track®
• MBA in Health Care Management • JD/MBA• MS in Information Technology• MS in Organizational Leadership• Certificate programs in health care administration, healthcare compliance and long-term care administration
www.quinnipiac.edu/gradadmission • 800-462-1944
AC Accounting ADV Advertising AS Associate’s Degree BUS Business Administration CIS Computer Information Systems EC Economics ENT Entrepreneurship FIN Finance
IB International Business ISM Information Systems management MBA Master of Business Administration MGT Management MKT Marketing MOL Master of Organizational Leadership
We’ve got the edge you need
business.quinnipiac.edu 31
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1
Making connections
1–Lucille (Giannini) Marottolo ’88, MBA ’92, JD
’00, and her children, Julian and Ganine, at the
New York City St. Patrick’s Day Parade in
March. Marottolo is QU’s associate vice
president for finance.
2–From left, Maxwell “Mac” Stock ’47, Elaine
Stock and Donald Santacroce ’59 at the Charter
Oak Society reception before a lecture by
filmmaker Spike Lee in February.
3–Tanya Huggler ’10, an executive team leaderfor Target, chats with Kenn Nguyen at the 2011
Career Fair hosted by the School of Business.
Both of them are MBA students.
4–Kimberly Gerdis ’07, right, discusses hercareer as a research analyst at Travelers with a
marketing student at a conference the QU
student chapter of the American Marketing
Association hosted on the Mount Carmel
Campus during the spring semester.
5–Katrina Lennon ’10, MBA ’11, left, works
alongside freshman Chelsea Campo in New
Haven during Quinnipiac’s Big Event on April 9.
Alumni and students teamed for a variety of
community service projects in the region.
6–Nicole Findeisen ’09, MBA ’11, left, cleared
and planted a garden at Christian Community
Action Inc. in New Haven with Abby Gould,
center, and Lindsey Kelly, both freshmen.
7–Author Daniel Pink meets Karen (Abbate)Riches ’92, left, and Nancy Abbate ’65 before
his April lecture on motivating creative people.
2
4 5
3
76
When School of Business alumni log on to QU’Net, the Quinnipiac Alumni Online
Community, and update their alumni information by June 30, 2011, they will
automatically be entered into a drawing for an iPad tablet, compliments of the
School of Business.
Every alumnus who submitted a Grad News event for the current issue of Quinnipiac
Business already has been entered.
Update your basic contact and employment information, visit the career center,
sign up for events and strengthen your professional network on QU’Net.
Not a member? No problem! Register now by following the easy steps below:
STEP 1. Go to www.quinnipiac.edu/qunet.xml and click on Register
STEP 2. Read and follow the on-screen instructions.
STEP 3. If you have problems with the registration, email [email protected] or call 877-582-1929.
Grow your Quinnipiac networkand take advantage of the exclusive benefits available to registered users.
WIN an iPad
Log on today!
School of Business275 Mount Carmel Ave.Hamden, CT 06518-1908
Nonprofit Org.U.S. Postage
PAIDBurlington, VTPermit No. 151CHANGE SERVICE REQUESTED
F –SU June 24–26Reunion 2011
Milestone reunions for the classes of 1961, 1966, 1971, 1976, 1981, 1986, 1991,1996, 2001 and 2006. All alumni welcome!
M July 18Quinnipiac ClassicAlumni Golf Championship
New Haven Country Club, Hamden$200 per player
SU September 18QU Day at the Boston Red Sox
Fenway Park, Boston, Mass.$100 includes an 11:30 a.m. reception and 1:35 p.m. game ticket (Sox vs. TampaBay Rays)
W September 21New Jersey Alumni & Parent Golf Outing
Rockaway River Country Club, Denville, N.J.11 a.m. registration and lunch12:30 p.m. shotgun start.Cocktails and dinner follow, $200.Proceeds benefit Quinnipiac students.
F–SU October 14–16Homecoming 2011
Highlights include Midnight Madness, Distinguished Alumni Awards Brunch,Alumni Tailgate at TD Bank Sports Center,men’s hockey and more.
SAVE THE DATES!
F –SU June 22–24, 2012Reunion 2012
Milestone reunions for the classes of 1962, 1967, 1972, 1977, 1982, 1987, 1992,1997, 2002 and 2007
F–SU October 12–14, 2012Homecoming 2012
For details, updates and to register
for these events please visit
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