Nexus spring 2001

NEXUSDrake UniversityC O L L E G E O F B U S I N E S S

& P U B L I C A D M I N I S T R AT I O N

A L U M N I N E W S L E T T E R

C O N N E C T I N G W I T H O U R A L U M N I & F R I E N D S A RO U N D T H E WO R L D

Spring 2001 • Volume 12 • Number 1

Around the World The CBPA Way

Around the WorldThe CBPA Way

INSIDE THIS ISSUE:

Skydiving Dean . . . page 2

Regional Scoop . . . page 8

Alumni Profile . . . page 10

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NEXUS SPRING 2001 • DRAKE UNIVERSITY COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION

I had an interesting challenge from a fraternity earlier this semester. They invited me to give a speech at an evening eventon campus on any topic of my choosing provided I make the speech both interestingand entertaining.Their “entertainment” requirement eliminated the possibility of mydiscussing the twelve steps for designing and implementing a computer system or the relative merits of cable versus DSL for delivering broadband network services to thehome. While I find both topics entertaining, I had to concede that bandwidth bantermight possibly bore my audience.

After reflecting on my assignment, I decided to talk about a personal interest in my lifethat’s a bit more extreme – skydiving. Yes, skydiving. I’ve enjoyed the thrill of jumping outof airplanes for 37 years and have amassed more than 1,800 jumps. So I compiled some“entertaining stories” and, with the aid of some great video clips, set out to share myskydiving experiences.

The audience seemed to like my presentation, but many of the young faces bore a somewhat stunned expression. I wasn’t sure why. Perhaps they found it hard to imaginethat someone who wore a suit with a white handkerchief in the breast pocket to workevery day would jump out of a perfectly good airplane. Or perhaps the theme of thespeech, that students should try to apply the same level of intensity found in skydiving totheir work habits, was too big a stretch for them.

Whatever the reason, I was reminded once again how often students are introducedto novel ideas and experiences in college. Students have a weekly smorgasbord of plays,musical performances, speakers, athletic events and other activities from which to choose.This is on top of an already full schedule ofacademic-related activities.

In the College of Business and PublicAdministration, professors employ manyforms of pedagogy in their courses. In addition to lectures, there are case studies,guest speakers, field trips and various formsof experiential learning. Many students supplement these with internships and study abroad.

All of these experiences, whether theyoccur inside or outside the classroom, areintended to educate students. Whereverthe learning occurs, students leave Drakeexposed to many more ideas and experiencesthan when they entered. With this accumulated knowledge they are prepared to con-front the challenges that lie ahead.

The job placement rate for students from this College who graduated in May 2000was 99%. These students will have successful careers because of what they learned atDrake – whether they acquired that knowledge in class, at an internship, or from some-one like me who happens to adorn his suits with white handkerchiefs and jumps out ofairplanes on weekends.

A Note from Dean Joe Alber

Nexus, the College of Business and Public Administration newsletter, is published

for alumni and friends of the CBPA

Drake University Marketing and Communications

316 Old Main Drake University

Des Moines, Iowa 50311-4505

Joe Alber dean

[email protected]

Todd Behrendsdevelopment officer

[email protected]

515-271-2502

Casey L. Gradischnigeditor

[email protected]

Eric Flynn art director

[email protected]

He glides through the air – CBPA Dean Joe Alber skydiving.

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DRAKE UNIVERSITY COLLEGE OF BUSINESS AND PUBLIC ADMINISTRATION • NEXUS SPRING 2001

port the stock market; it is to keep long-term interest rates low, thereby stimulatingcapital investment. This is best accomplishedby keeping inflationary expectations down.Mr. Greenspan, perhaps alone, has the credi-bility to achieve this.

Japan is a textbook example of the con-sequences of financial hangover from badinvestments, and is the wildcard in theworld economic situation. When the financeminister of the world’s second largest econo-my states that his country is on the verge ofcollapse, this is a statement to be taken seri-ously. Further decline in Japan hurts us notonly via a reduction in exports, but alsothrough the possibility of U.S. plant closingsand other efforts to bring money backhome.

The business cycle has not beenrepealed by the new technology—in fact, therepeated assertions to the contrary were oneof the signs of the top. Recessions happen,but they always sew the seeds for renewedprosperity. Caution, not panic, is a goodwatchword in today’s environment.

The idea that there is a “new econo-my” does not imply that there is a“new economics.” This is apparent

with the reemergence of a very old economicphenomenon, the business cycle downturn.We are probably in an industrial recessionright now, and the more general economystands on the precipice of its first recessionin 10 years. Fortunately, there are a coupleof factors, often overlooked, that lead to thebelief that any downturn will not be notablydeep or long-lived.

There is no question that there has beena bursting of a speculative bubble in theinformation technology (IT) sector. This wasnot a classic bubble (like tulips or Floridaswamp land) because it was based upon realand permanent productivity-enhancing tech-nological progress. The fundamental mistakethat many investors made was not recogniz-ing that IT infrastructure, equipment andsoftware are capital goods, akin to machinetools, and like all capital goods, the industryis subject to both overbuilding and swiftpostponement of demand. The absolutedrop-off in orders for these commoditiesover the past few months and the industry’scomplete lack of visibility – the currentlypopular business-speak for “we have no ideawhat will happen next” – are classic busi-ness-cycle phenomena in the capital goodsindustry.

As far as the length and severity of theslowdown are con-cerned, it is helpful

that the burst bubble was primarily equity-financed rather than debt-financed. It is truethat nearly $4 trillion dollars of equity hasbeen destroyed the past year on the NAS-DAQ alone, and that many people whothought they were going to be rich are notgoing to be. Financial institutions duringthis period did a fairly good job of avoidingso-called “air-ball” financing; with theexception of debt-financed overbuilding inthe telecommunications industry, financialinstitutions should come out of this situationwithout a huge overhang of bad debt.People familiar with the farm depression ofthe 1980s and the real estate market afterthe S&L debacle understand how the finan-cial hangover of bad debt can deepen andprolong a downturn. In the current environ-ment, when confidence returns, the bankingsystem should be poised to finance businessexpansion using reasonable credit standards.

A second characteristic that bodes wellis the absolute soundness of federal fiscaland monetary policy over the past 10 years,leaving the government with a full array ofstrong weapons to fight any downturn. Withlarge surpluses, there is plenty of room for ameaningful and permanent tax cut.

Likewise, if need be, the Fed has roomto cut several hundred basis points fromshort-term interest rates. It is important tounderstand that the Fed’s goal is not to sup-

HOT TOPIC

The Economic Forecast:Not Too Badby David Lawrence

David Lawrence is theThomas F. Sheehan distinguished professorof finance. This editorialcondenses the remarks made by ProfessorLawrence during the meeting of the Iowa EconomicForecasting Council on March 9, 2001.

YOUR OPINION WANTED: If you have an indus-try-related opinion you’d like to write and submitfor consideration as a future Hot Topic, or if youwant to respond to this editorial, send an e-mailto Nexus editor [email protected].

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IN BRIEF

DIRECTOR NAMED FOR SMALLBUSINESS CENTERSherry Shafer, LA’63, was named the newdirector of the the Drake Small BusinessDevelopment Center and the JohnPappajohn Entrepreneurial Center. TheUniversity’s West Des Moines office and thecampus office have been combined into onelocation at 2429 University alongwith the Pappajohn Center. WendyDeVries, MBA’94, was selected tobe the assistant director.

The center offers new servicesand opportunities for entrepreneursin a four-county area of Polk,Jasper, Warren and Marion as wellas businesses from other countiesthat require certain special programs.The SBDC provides free, one-on-one confi-dential counseling to existing businesses andstart-ups. It offers workshops, conferencesand special programs. Other services provid-ed by SBDC include a Web lab to help smallbusinesses develop Web sites; internationaltrade business assistance; “Made It,” a

mother-daughter program; and Quick BookPro training.

The state wide Targeted Small BusinessMarketing program is now located at thecenter. This new service promotes women,minority and handicapped entrepreneurs.The center also has an extensive small busi-ness library available for use by Drake stu-dents, faculty and entrepreneurs and con-tains tapes, magazines, research material,books, best sellers and other resources. Anew Web site will be on the Internet in May.

The Pappajohn Center offers $10,000seed grants to Drake students seeking tostart a new innovative/technology businessin a twice-a-year competition. The centerprovides loan packaging, feasibility, strategicplanning and other services to businesses.New programs are being planned, and col-laboration and partnering with the othercolleges at Drake as well as communityorganizations and businesses are growing.As part of the CBPA, the SBDC andPappajohn centers held an open house onMay11. For information, contact the SBDCat 515-271-2655.

LONGFIELD FEATURED SPEAKER ATANNUAL BUSINESS DAYSWilliam H. Longfield, chairman and chiefexecutive officer of C. R. Bard Inc., a busi-ness that develops, manufactures and sup-plies health care products that focus on vas-

cular, urology and oncology dis-ease states, was the keynotespeaker at Drake University’sannual Business Days AwardsBanquet on April 5.

Longfield, who receivedhis bachelor’s degree in businessadministration from Drake in1960, discussed many challenges

he’s faced during his 40-yearcareer. Longfield joined C. R. Bard inMurray Hill, N.J., in 1989 as executive vicepresident and chief operating officer. Hebecame president in 1991 and CEO in 1994.He recently was elected chairman of theBoard of Directors of the Advanced MedicalTechnology Association, the world’s largesttrade association for innovators and manu-

facturers of medical devices, diagnosticproducts and medical information systems.

Other highlights of Business Daysincluded a forum by Carl Williams, chiefinformation officer of The PrincipalFinancial Group, entitled “InformationSystems in the Real World”; an ice creamsocial sponsored by Alpha Kappa Psi; and abanquet where more than 80 CBPA studentsreceived scholarships and honors. Drake’s Business Days is made possible byArthur Andersen LLP.

CBPA STUDENTS LEARN ABOUTADVERSITIES FIRST-HANDTuesday, March 6, 2001, 50 CBPA studentsentered a world that most never had to facebefore. It was a world that illustrated thechallenges of the disabled. Sponsored by theDrake Chapter of SHRM, two members ofthe Central Iowa Center for IndependentLiving (CICIL) came to Drake to speakabout their jobs and to share informationabout people with disabilities.

Bob Jeppesen and Frank Strong present-ed activities designed to give a better under-standing of what it is like to live with a dis-ability. Students were asked to form teamsof two or three and help each other out atthe various stops.

Some of the students started at the“Blindness” station. Here students woredarkened sunglasses and used a walkingstick to find their way up and down thestairs.

“Fine Motor Skills Improvement” wasanother station that allowed students torealize how hard it is to be confined to awheelchair. The students then had to navi-gate their way through the hallways to thebathroom and water fountain.

“Learning Disabilities” was a morechallenging activity where students had toread a paragraph written backwards inorder to experience what it would mean tohave a learning disability. Students realizedhow hard and frustraiting having a disabilitycan be.

Finally students who thought that theyhad weathered the harder activities had one

The Drake Small Business Development Centerand the John Pappajohn Entrepreneurial CenterAssistant Director Wendy DeVries with DirectorSherry Shafer.

William H. Longfield

more to go through – “Speech Impediment.”Here students faced the difficulty of tryingto communicate clearly while three marsh-mallows were placed in their mouths. Theirpartners during this time asked them inter-view questions which they could not answerjust yes or no. One student commented onthis exercise expressing “how frustrating itwas and I just wanted to get out the fastestanswer possible without explaining, goinginto detail or spitting out one of mymarshmallows.”

After students had completedall the activities, they asked ques-tions and discussed their reactionsto each activity. Overall, the stu-dents had fun and found the presen-tation very educational. Each ofthese activities allowed them to real-

ize that we do take things for granted and,until placed in that situation, cannot under-stand how hard it is to live with a disability.This sensitivity training will be very benefi-cial to Drake students in working in the“real world.”By Debbie BroneckPresident, Drake SHRM Student Chapter

BEHRENDS JOINS DRAKE DEVELOPMENT OFFICETodd Behrends has joined DrakeUniversity as the CBPA alumniand development director.Behrends has spent 17 yearsworking in marketing and com-munications roles primarily with-in the insurance and financialservices industries. He joined

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DRAKE’S CBPA HAD ITS BEGINNING IN 1916 as the School of Commerce, Finance andJournalism within the College of Liberal Arts. It was given separate status as a degree-granting college in1919. Between 1923 and 1950 the school was known as the College of Commerce and Finance and thenbecame the College of Business Administration. Herbert W. Bohlman (seen here with students in 1958)served as dean of the College from 1954 until 1965.

Drake from the NCMIC Group, where heworked in public relations, marketing andcommunity relations for more than fiveyears. Behrends has degrees from NorthwestMissouri State and from Simpson College.He is accredited in public relations by thePublic Relations Society of America andholds the APR designation. Behrends can bereached at 515-271-2502.

CBPA GRADS ELECTED TO DRAKEBOARD OF TRUSTEESThree of the four new members elected tothe Drake University Board of Trustees areCBPA grads. They are:• James Bruner, BN’60, LW’63, executivevice president and division manager ofNational Bank of Arizona in Scottsdale; • Steven Chapman, BN’73, president andCEO of ITA Group Inc. West Des Moines; • Ronald Roark, BN’72, chairman and CEOof Crown NorthCorp in Columbus, Ohio.

The new members will serve three-yearterms on the Board of Trustees, which meetsfour times yearly and serves as theUniversity’s policy-making and governingbody.

NEW NEXUS HOT OFF THE PRESSThe spring 2001 printing marks the first edi-tion of the newly redesigned Nexus. Thenewsletter has been reworked by Drake’sOffice of Marketing and Communications togive the publication a more reader-friendly,contemporary feel. In addition to the visualenhancements, the content of Nexus hasbeen updated to include more Drake CBPAstudents, faculty and graduates in new andunique ways. If you have a comment on thenewsletter or would like to contribute toNexus, e-mail Editor Casey Gradischnig [email protected] or call 515-271-3779.Drake Historical Moment

Todd Behrends

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n the past, a business could choose not to do business internation-ally,” says CBPA Assistant Professor of Management VinitiaMathews. “Now, smart businesses don’t have much choice

because whether a business participates in international business ornot, that business will be impacted by international business issuesand influencers. Traditional job descriptions have not changed, how-ever, how one executes his or her job . . . interacting with diversepeople, dealing with rapidly changing technology, and the increasedamount of travel all have changed remarkably in recent years.”

A FOUNDATION FOR SUCCESSOne way Drake prepares business students for the increasinglydiverse workplace and the influx of global business practices is theinternational business major.

This major equips Drakestudents for the challengingtasks of leading and coordi-nating people, activities and

systems for global operations. The curriculum provides a broad-basedprogram of language and culture, history, geography and political sci-ence with a solid foundation of business and economics to enhancestudents’ abilities to be valuable and contributing members of a glob-al society.

GLOBE-TROTTING STUDENTS AND GRADUATES“My daily tasks are affected directly each day by economic, environ-mental and political events,” says CBPA graduate Carla Rajkowski,who travels the world as an international trade analyst and pricingauthority for Maersk Sealand. “Recently I attended a training semi-nar where employees representing more than 40 countries preparedeconomic presentations. Seven days before the presentation, manyrevised their forecasts due to the news regarding the U.S. economicoutlook and possible recession. In order for businesses to survivethrough theses fluctuations, businesses must be aware and react to theinternational events in a manner that is appropriate and timely.”

Rajkowski graduated from Drake in 2000 with internationalbusiness, economics and finance majors and a Spanish minor, and she

Go GlobalInternational Business Flies High at Drake

IT’S A BIG WORLD OUT THERE AND DOING BUSINESS ON THE OTHER SIDE OF THE GLOBE HAS NOT ONLY BECOME EASIER, IT’S BECOME NECESSARY. FUELED BY MULTI-NATIONAL CORPORATIONS AND THE EMERGENCE AND

EASE OF THE INTERNET, E-MAIL AND AIRLINE TICKETS ARE QUICKLY BECOMING THE TOOLS OF TRADE IN AN INCREASINGLY GLOBAL BUSINESS ENVIRONMENT.

Student ProfileMinna Hamalainen

Major: Master of Business Administration,anticipated completion in December 2001.

Hometown: Helsinki, Finland

Notable Achievement: Before attendingDrake, Hamalainen worked for Finland's largest cosmetic brand, where she planned and executedproduct launches and marketing strategies forboth domestic and international markets. Her

biggest project, managing a $2.5 million point-of-sale design roll-out, was honored in an interna-tional competition in Dusseldorf, Germany.

Off-campus Interests: Hamalainen embracesinternational education and loves traveling andgetting to know different cultures and people.After graduating from high school in Helsinki, she was an exchange student in the U.S. for a year.Through business, vacation, or academic enrich-ment, Hamalainen has visited approximately 20countries so far and has learned six languagesalong the way. She also enjoys concerts, art exhi-bitions, design, movies, hiking and skiing.

Career Aspirations: "A position where I canuse my international professional experience in strategic marketing along with interpersonal and

linguistics skills. My dream job would include afair amount of responsibility and lots of traveling,meeting new people and brainstorming.Marketing management, consulting and competi-tive market analysis would be interesting fields towork in."

“The Drake MBA and the offered electivescreate a great foundation for future busi-ness positions, and what I have learnedwill enable me to successfully further mycareer ambitions. Team performance isvital no matter what activities you engagein, and at Drake I've learned a lot aboutAmerican group dynamics in particular. Ifeel that this will be a valuable asset in myfuture business interactions.”

“I

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credits Drake for preparing her for the fast-paced global marketplacewhere she now works. “My international business classes gave methe tools I needed to evaluate international business opportunitieswhile increasing my understanding of cultural issues and customs.Secondly, my study abroad experience in Spain taught me a lot aboutmyself. I realized how truly open to other cultures a person must bein order to actually live or work abroad for long periods of time.”

DRAKE IS INCREASINGLY INTERNATIONALAccording to Mathews, the number of CBPA students travelingabroad has risen dramatically in recent years. Even prospective stu-dents are asking about travel abroad opportunities as they shop – forcolleges. From 1997-98 to 1998-99, the number of students from theUnited States studying abroad increased by 13.9 percent. Theincrease among Drake students was 15.5 percent. From 1993-94 to1998-99, the increase in the U.S. was 70 percent, while the increasein study-abroad participation at Drake was 88.7 percent.

While international students have long contributed importantperspectives to the Drake community, there are more of them to doso these days. From 1998-99 to 1999-2000, the number of interna-tional students studying in the United States increased by 4.8 per-cent; the comparable increase at Drake was 6.2 percent. If you com-pare 1994-95 and 1999-2000, the increase for the U.S. was 13.7 per-cent while the growth at Drake was 48.3 percent.

“Oh my word! I have learned so much,” says sophomorefinance major Hannah Zbornik, who is spending the spring semesterin Prague. Zbornik is participating in a program at the University ofEconomics, called CESP – Central and East European Studies

Program. “Even though I am not in a classroom all the time, I thinkI am learning much more than I would in a semester.”

WORLDWIDE RESULTSOpportunities like studying abroad, visiting with one of the interna-tional business experts frequently speaking on campus, and thedevelopment of Drake’s International Business Society by Mathewsand CBPA students two years ago, are paying off in measurableways for Drake graduates.

“We continue to see phenomenal growth in the area of interna-tional business, and our students are doing very well in placement,”says Mathews. “I hear raves from employers about how wonderfulour students are. Huge international companies like Pioneer Hi-Bredconstantly comment on how knowledgeable and how professionalDrake students and graduates are.”

Digital DrakeGreat global business resources for international businesses can be

found at the Center for International Business & Travel @www.internationalist.com

(Left) CBPA graduateCarla Rajkowski, on arecent business-related tripto Copenhagen, is aninternational trade analystand pricing authority forMaersk Sealand.


(Right) Sophomorefinance major HannahZbornik is studying inPrague for the springsemester.

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REGIONAL SCOOP: DALLAS

BUSINESSDallas is headquarters to more oil firmsthan any other U.S. city, and headquar-ters to more insurance companies thanany other city in the south. The cityranks seventh in the nation on theFortune 500 list, with eight of thenation’s largest public firms headquar-tered in the city of Dallas,

Dubbed the "Silicon Prairie," Dallasis among the largest high technologyemployment centers in the U.S. Dallas isthe distribution center of the Southwest,with wholesale and retail trade being thesecond largest employment sector in theDallas economy.

CULTUREThe Dallas arts district is the largest urbanarts district in the country and is anchoredby the Dallas Museum of Art and theMorton H. Meyerson Symphony Center.There are approximately 36 professionaland community theaters, 12 symphony andchamber orchestras, three ballet groups, aworld class opera association and over 160museums, galleries, and artistic attractions.

Dallas is one of a few cities in thenation with seven major league sports teamsincluding Cowboys football, Mavericks bas-ketball, Rangers baseball, Stars hockey, Burnsoccer, Sidekicks indoor soccer andDragoons polo.

“Dallas is a vibrant city. Ithas a terrific businessenvironment and is anexciting city to reside in.”David N.Walthall, MBA’71,principal for Walthall AssetManagement Corporationand a member of Drake’sBoard of Trustees.

“Dallas is a virtual boom-town. Because it is locatedin the sunbelt and approx-imately in the middle ofthe United States, accessto both coasts and thenorthern Midwest is possi-ble by airplane for one-day meetings. This is trulyan area where opportunityabounds and those mov-ing into Dallas from otherparts of the country arereadily accepted.” Douglas S. Lang, BN’69, attor-ney and partner with GardereWynne Sewell LLP, and vicepresident for programming onthe Drake national AlumniAssociation Board.

“Dallas provides an entre-preneurial environmentfor advancing one'scareer. For those willingto invest their time andenergies, the opportunitiesare significant.”John R. Holzgraefe, BN’76,shareholder and co-leader ofthe Technology PracticeGroup at Jenkens & Gilchrist.

ALUMNI CHAPTERThinking of visiting or moving to Dallas?Connect with other Bulldogs in the areathrough Drake’s Dallas Alumni Chapter bycontacting Drake grad Jesse Cox at 214-368-9018, [email protected].

Or you can connect in cyberspace by visitingDrake’s online alumni community atwww.drakealumni.net.

DALLAS BY THE NUMBERS (1999 data)

Greater Dallas population 3,366,618Unemployment rate 4.1%Median household income $50,473Median house sale price $121,498Avg. monthly apartment $811

From a small settlement on the banks of the Trinity River, Dallashas evolved into a major metropolis that Fortune magazine calledthe “best place in the nation to do business.”

DRAKE JOHN PAPPAJOHNENTREPRENEURIAL CENTER GRANT

John H. Brant Jr. received a Pappajohn New Venture Grant to assistwith the marketing of his start-up venture, DSS Logic Inc. His enter-prise will provide online manpower planning tools to the airline indus-try so that airlines can accurately staff their airports to meet their serv-

ice and operational objectives.The tools are similar to thoseBrant developed atContinental Airlines. He hasalready sold non-Internet-enabled versions of these toolsto Hawaiian Airlines andAmerican Trans Air at therequest of an industry consult-ing company.

Brant will receive hisMBA degree from DrakeUniversity this May. He has aBA in industrial engineeringfrom Iowa State and is cur-rently employed at AutomaticData Processing as a manager.He has more than 12 years ofengineering and engineeringmanagement experience

including positions at CSX Transportation, Continental Airlines andthe Iowa Army Ammunition Plant.

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Delta Sigma Pi Undergraduate of the Year Kevin McLean

Delta Sigma Pi Graduating Senior of the YearNicole Geisler

Delta Sigma Pi Scholarship Key AwardMary Ellen Baird

Outstanding MPA Graduate of the YearChristoffer Frantsvog

Outstanding MBA Graduate of the YearDuane Putz

Alpha Kappa Psi Undergraduate of the YearNick Maday

CBPA BUSINESS DAYS HONOREES

Alpha Kappa Psi Graduating Senior of the YearPamela Stoffegren

Alpha Kappa Psi ScholarshipCertificate and Key AwardMary Ellen Baird

CBPA OutstandingUnderclassperson of the YearGrant Geyerman

CBPA Outstanding GraduatingSeniors of the YearMary Ellen Baird and Prithviraj Tanwar

Outstanding Graduate Teaching AwardJames Dodd, associate professor of accounting

Outstanding UndergraduateTeaching AwardJohn Rozycki, associate professor of finance

(Front row from left:) John H. Brant, Jr.,Sherry Shafer, director of Drake’s SmallBusiness Development Center ; JohnPappajohn, president of Equity DynamicsInc.; Joe Alber, dean. (Back row) MattKinley and Joseph Dunham II, employeesof Equity Dynamics Inc.

The CBPA Annual Business Days took place April 4-5.

In addition to the outstanding students and faculty who were

honored at the banquet and listed here, 81 CBPA students

received scholarships at the event.

Faculty ProfileMichael Murray

Title: Distinguished Professor ofInsurance. Murray has been atDrake since 1986 and currentlyteaches courses on topics including“Introduction to Insurance,” “RiskManagement” and the First Year

Seminar “What Should We DoAbout Poverty?”

Background: PhD from University of Oregon, two years inU. S. Army, two years at an insur-ance agency, 19 years teaching atUniversity of Iowa.

Research Interests: Currently,guaranteed adequate income issues.

Professional Associations:American Risk and Insurance Association; Chartered Property

and Casualty Underwriters Society;International Insurance Society

Notable Achievement:Publication of a book ". . .andEconomic Justice for All."

Off-campus Activities: Golf,gardening, tennis, grandchildren.

Nexus asked: How would youdescribe the evolution of the insurance industry and its impact onhow you educate students?

“In the early years of myteaching, I focused on theexact wording of contractsbecause courts were holdingbuyers to the contractualwording. Now I am more con-cerned with the intent of thecontract because courts aremore likely to consider thebuyer's reasonable expecta-tions.”

Talk of the TownWelcome to Talk of the Town, thepublic forum for airing opinions,gripes and predictions regardingissues of interest to CBPA faculty,students and graduates.

In this round of Talk of the Town,CBPA faculty and students weigh inon how they believe the Bushadministration will impact the economy.

“The best way to stimulate theeconomy is through investment.Bush’s tax cut proposal willmotivate the wealthy to increasetheir investments and, therefore,improve the condition of theeconomy. I think the new Bushadministration will benefit theeconomy.” – Michael Welsch,finance and accounting major, St.Paul, MN

“Every administration realizesthey serve a limited role in themanagement of the economy.However, an administration canand does make strategicallycrafted arguments that matchcurrent public opinion aboutthings like the economy toimplement their preferred poli-cies. Take, for example, tax cuts.To achieve this policy goal, anadministration will wisely assessthe current situation and matchit to their policy. So, if the econ-omy is thought to be in badshape, tax cuts become a vitaleconomic stimulus program. Ifthe economy is good, then taxcuts are said to serve the public’swish to rein in the excesses ofgovernment or to shift moneyback to the people, etc. Not tosay these are not legitimatearguments, but they are strategi-cally assessed and selected tosupport the policy. Policyresearchers refer to this condi-tion as a solution looking for aproblem.”– Lance Noe, visitingassistant professor of public adminis-tration, CBPA

“The true impact of the execu-tive branch on the economy isoften overstated by the media,and therefore I believe that anyimpact of the new Bush admin-istration will be minimal. Anyadministration is given credit fora robust economy and the blamefor a poor performing economy.However, the reality is that theforces that truly drive the econo-my on, in large part, are out ofthe control of the executivebranch.”– Thomas Root, assistantprofessor of finance, CBPA

“I think the Bush administrationwill stimulate the economy. Thetax cut plan will put money

back into the hands of the peo-ple and result in more spend-ing.” – Chuck Schultz, sophomorefinance and accounting major,Minneapolis, MN

“People are looking for someoneto blame for the state of theeconomy, and now that Clintonis out of office, they will turn toBush. In reality, Bush is notcapable of having an immediateeffect on the economy, and anycurrent problems can not beattributed to him.” – Jay Whiteside, sophomore informa-tion systems and accounting major,Rock Island, IL

Alumni ProfileJohn H. Flittie, BN’58

Occupation: Adjunct faculty University of St.Thomas Graduate School of Business; sirectorof three companies and an educational founda-tion; part time management consultant.

Background: Flittie is the retired president, CEOand director of ReliaStar Financial Corp., aFortune 500 company and the 8th largest publiclyheld life insurance holding company in the United States. Prior to his career at ReliaStar, Flittie spent20 years as a consulting actuary including found-ing and managing the actuarial and benefit con-sulting practice at Touche Ross & Co. – nowDeloitte & Touche LLP.

Notable Achievement: “Helping to raisethree great kids.”

Off-the-Job Interests: Golf, outdoor activities,travel and six grandchildren.

“Any career success was due to the education and motivation I got at Drake,particularly from my adviser, Dr. FloydHarper, who simply wouldn’t let his students fail to succeed.”

Nexus spring 2001

Documents

Transcript of Nexus spring 2001