November 2005

Media Round-Up

Farrell Center Welcomes New Research Director

Nittany Lion Fund Up 13 Percent On The Year

Smeal Team Earns Third Place In MBA Case Competition

Smeal's Farrell Center Wins NASDAQ Entrepreneurship Award

BusinessWeek: Top Ten Ranking For Penn State Executive Programs

Brandweek Names Smeal Alumnus 'Grand Marketer Of The Year'

Research: Politics Prevail Over Accounting Data In Government Financial Decisions

Lusht Appointed Interim Dean Of Smeal

IBM Joins Smeal At Ribbon Cutting For New Supply Chain Research Lab

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Here's the latest issue of SMEAL Zine, a monthly electronic magazine designed to keep alumni and friends in touch with the latest news and information from Penn State's Smeal College of Business and its nationally ranked programs and world-renowned research centers.

IBM Joins Smeal At Ribbon Cutting For New Supply Chain Research Lab

Bob Moffat, senior vice president of IBM, was Smeal’s special guest at the opening of the new Supply Chain Laboratory on Oct. 28 in the Business Building. A Shared University Research award from IBM provided Smeal with IBM software, server, and storage technology to create an initial On-Demand Supply Chain Research Laboratory in the fall of 2003. The new lab is outfitted with additional IBM hardware and will also serve as a classroom for Smeal students. For more information on the new lab, visit http://www.smeal.psu.edu/news/releases/
oct05/scisibm.html.

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Lusht Appointed Interim Dean Of Smeal

Kenneth M. Lusht, professor of business administration, Zimmerman Homes University Endowed Fellow in Business Administration, and chairman of the Department of Insurance and Real Estate, has been named interim dean of Smeal, effective Jan. 1, 2006. Lusht has previously served as the college's associate dean for research, director of doctoral and M.S. programs, and director of the Institute for Real Estate Studies. Outside the University, he is a fellow of the Homer Hoyt Institute and has served in advisory roles for the Lincoln Institute of Land Policy, the Appraisal Foundation, the Center for Economic Studies, the Pennsylvania Real Estate Commission, and the American Real Estate and Urban Economics Association. For more about the Lusht appointment, visit http://www.smeal.psu.edu/news/releases/oct05/lusht.html.

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Research: Politics Prevail Over Accounting Data In Government Financial Decisions

In "Saving Chrysler: The Use and Nonuse of Accounting Information by the U.S. Congress," which will be published in a forthcoming edition of Accounting History, Mark W. Dirsmith, Deloitte Professor of Accounting at Smeal, and Timothy J. Fogarty of Case Western Reserve University examine the federal government's 1979 bailout of Chrysler. They argue that when accounting is used as evidence in political decisions, it is often employed as a rationalization for a decision or as ammunition for an argument—in both instances, the application of accounting data is not ideal. For more on this paper, visit http://www.smeal.psu.edu/news/releases/oct05/chrysler.html.

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Brandweek Names Smeal Alumnus 'Grand Marketer Of The Year'

Jim Stengel, global marketing officer for Procter & Gamble and a 1983 graduate of the Smeal MBA program, was named the 2005 Grand Marketer of the Year by Brandweek magazine on Oct. 6. The award honors the industry's top marketers who have best used creativity and instinct to break through with national brands. Stengel has been with Procter & Gamble since 1983, working on its Duncan Hines, Jif, and Olestra brands, and as general manager of Procter & Gamble in Europe and vice president for global baby care before becoming global marketing officer in 2001. Stengel was honored for his consumer-centered marketing approach that is credited with reviving some of Procter & Gamble's biggest brands. For more information, visit http://www.smeal.psu.edu/news/releases/oct05/stengel.html.

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BusinessWeek: Top Ten Ranking For Penn State Executive Programs

BusinessWeek magazine has ranked the Penn State Executive Programs at Smeal among the top ten best custom programs in the world. Smeal's program ranked eighth in the custom category and is the third-ranked custom program among public universities. For more on Penn State Executive Programs, visit http://www.smeal.psu.edu/execed/index.html.

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Smeal's Farrell Center Wins NASDAQ Entrepreneurship Award

The Farrell Center for Corporate Innovation and Entrepreneurship at Smeal has received the NASDAQ 2005 Center of Entrepreneurial Excellence award through a unanimous vote of peers. NASDAQ and the National Consortium of Entrepreneurship Centers (NCEC) established the award in 2000 to recognize organizations that have made the greatest contributions to the advancement of entrepreneurship through academic and research excellence. More information on the Farrell Center is available online at http://www.smeal.psu.edu/fcfe/index.html.

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Smeal Team Earns Third Place In MBA Case Competition

A team of second-year Smeal MBA students placed third in the National Black MBA Association Case Competition at the organization's annual conference in San Diego last month. The competition's sponsor, DaimlerChrysler, challenged 26 teams from around the world to develop a strategy that would enable the company to enter China’s automobile market. Each team presented its solution to DaimlerChrysler executives who chose Smeal's team of Janelle C. McIntyre, Maimuna Mijindadi, and Robert Watson as the third-place winner of this year's contest. For more on the case competition win, visit http://www.smeal.psu.edu/news/releases/oct05/mbawin.html.

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Nittany Lion Fund Up 13 Percent On The Year

The student managers of the Nittany Lion Fund LLC, an investment portfolio at Smeal worth $2.8 million, announced in their third-quarter report that the fund is up 12.98 percent since opening in January. The fund is considerably outperforming its benchmark, the S&P 500, which was up less than 3 percent when the report was issued. The fund is scheduled to be opened to qualified investors in January. Interested investors should contact Jan Dunlap at jmd35@psu.edu. For more information on the Nittany Lion Fund, visit http://www.smeal.psu.edu/news/releases/nov05/nlf.html.

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Farrell Center Welcomes New Research Director

Raghu Garud has joined Smeal as professor of management and as research director of the Farrell Center for Corporate Innovation and Entrepreneurship. Garud was previously at the Leonard N. Stern School of Business at New York University, where he studied how innovation unfolds within and across firms. His research interests include modularity, industry emergence, intellectual capital, and path creation. For more on the Garud appointment, please visit http://www.smeal.psu.edu/news/releases/oct05/garud.html.

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Media Round-Up

Members of the Smeal College faculty are contacted regularly by the world’s news media. In October, faculty members were featured in media outlets such as BusinessWeek, The Wall Street Journal, USA TODAY, Reuters, and The Washington Post. For a more complete list, please visit http://www.smeal.psu.edu/news/innews/index.html.

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Programs and Events

Penn State Executive Programs is currently accepting reservations for its upcoming programs. Please visit http://www.smeal.psu.edu/psep/date.html for more information or click the links below for some of the specific programs being offered.

December 1-2
Segmentation Marketing
http://www.smeal.psu.edu/isbm/seminars/segmentf05.html