Inside: - UW-Milwaukee

Outlook Spring 

The Lubar School’s magazine for alumni and friends 

Inside: 

Nicholas Lab to Bring Trading 

Room Experience to Students 

Thomas Linsmeier (’78) 

Appointed to FASB 

Dennis Kuester (’66) Tells 

Students: “The Golden Rule 

is the Gold Standard” 

2007 

David O. Nicholas (MS-Finance ’87) 

President and Chief Investment Offi cer 

Nicholas Company

Our Vision 

Our vision is to become a leading urban business school 

recognized for high quality teaching and research that 

advances student learning, managerial careers, and the 

frontiers of management knowledge. We will build upon 

our internationally recognized research to contribute to 

the economic future of Milwaukee, the region and beyond. 

For further information about the 

Sheldon B. Lubar School of Business: 

BBA Program 

(414) 229-5271 uwmbba@uwm.edu 

MBA/MS Programs 

(414) 229-5403 uwmbusmasters@uwm.edu 

PhD Program 

(414) 229-4542 uwmbusphd@uwm.edu 

Executive MBA Program 

(414) 229-5738 emba@uwm.edu 

Executive Programs 

(414) 229-6519 execprograms@uwm.edu 

Career Services 

(414) 229-5445 careerserv@uwm.edu 

Visit our Web site at: 

www.uwm.edu/Business 

Published by the Sheldon B. Lubar 

School of Business, University of 

Wisconsin–Milwaukee as a source of 

information for alumni and friends. 

Dean: 

V. Kanti Prasad 

Editor: 

Kristine Piwek 

Graphic Designer: 

Susan McKay 

Photos: 

Pete Amland 

Alan Magayne-Roshak 

Comments are welcomed. 

Please direct all correspondence to: 

UWM Sheldon B. Lubar School of Business 

P.O.Box 742 

Milwaukee, WI 53201-0742 

or to kpiwek@uwm.edu 

Visit our Web site at: 

www.uwm.edu/Business 

The University of Wisconsin–Milwaukee, in 

compliance with Titles VI and VII of the Civil 

Rights Act of 1964, Title IX of the Education 

Amendments for 1972, Sections 503 and 504 of the 

Rehabilitation Act of 1973, the Age Discrimination 

in Employment Act of 1967 and Section 402 of the 

Vietnam Era Veterans Readjustment Act of 1974, 

does not discriminate on the basis of race, color, 

national origin, religion, sex, handicap, age or 

Vietnam era veteran’s status in any of its education 

or employment policies, procedures or practices.

In This Issue 

Outlook 

SPRING 2007 

2 Message from the Dean 

3 Nicholas Lab to Bring Trading Room Experience to Students 

5 Bradley Distinguished Lecture Series 

6 Accounting and Tax Alumni Celebrate in Style 

8 Accounting Alum Appointed to FASB 

9 Alumni Profi le: Steven A. Davis (BBA ’80), Bob Evans Farms Inc. 

10 Kuester to Students: “The Golden Rule is the Gold Standard” 

11 Alumni Profi le: Margaret “Peggy” Kelsey (EMBA ’06), 

Modine Manufacturing 

12 Entrepreneur Internship Program 

13 La Macchia Enterprises Supports Entrepreneurship Initiatives 

14 Lubar School Hosts Miller Urban Entrepreneurs Series 

14 Sun’s Project Blackbox Stops at UWM 

15 Rockwell’s Keith Nosbusch Addresses Honors Students 

16 Managing Intellectual Property 

16 Research Seminar Series 

18 In Memoriam: Roger L. Fitzsimonds (’60, ’71, ’89) 

19 Northwestern Mutual Receives Baird Award 

19 Emeritus Professor Jerry Leer Honored 

20 Accounting Professor Bill Taylor Retires 

21 CPA-in-Residence Program Established 

22 UWM’s SHRM Chapter Recognized Nationally 

22 2006-07 Scholarships 

24 Alumni News 

26 Honor Roll of Donors 

SPRING 2007 1

Message from the Dean 

Throughout our 40 years as a 

business school — and an even 

longer history providing 

management education on the UWM 

campus — our students and the business 

community of Southeastern Wisconsin 

have benefi ted from the vision our 

founding faculty had for this institution 

in the state’s economy and in the 

individual lives of our graduates. 

Today, that vision is embodied in the 

Lubar School’s 65 full time faculty, 4,400 

students, 22,000 alumni, and countless 

partners in business. 

Moving ahead to the next chapter in our 

history, our vision to be a leading urban 

business school remains strong. 

Through the highly-regarded research 

of our faculty, we stay at the forefront of 

management education. Through 

excellence in teaching, our faculty share 

that knowledge with our students in the 

classroom. And through active knowledge 

partnerships with the business community, 

we keep our fi nger on the pulse of 

business today… and tomorrow. 

Long a fertile training ground for top 

executives and management professionals, 

UWM’s Lubar School of Business has 

continually sought out innovative ways to 

enhance our programs and our reputation 

— both here in Wisconsin and at the 

national level. 

That began 40 years ago with the formation 

of a new business school in Milwaukee 

devoted to serving the State’s major 

economic hub. Shortly there after, we 

earned accreditation from AACSB 

International. In the 1970s, an MS- 

Management and a PhD program joined 

the BBA and MBA programs to meet the 

2 OUTLOOK 

Dean V. Kanti Prasad 

needs of our students and corporations. 

Also in that decade, we pioneered 

executive education in Wisconsin by 

launching the state’s fi rst Executive MBA 

Program. Twenty years ago, we began 

utilizing the tools of the information age 

and incorporating them into our 

curriculum. And just over a decade ago, 

we moved into a new business building 

with state of the art classroom learning 

technologies and computer labs that are 

vital to our students’ education and our 

faculty’s productivity. 

Today, we continue to be at the cutting 

edge by developing other new initiatives 

that will take us to the next level of 

excellence. 

Earlier this year, we established the M&I 

Marshall & Ilsley Center for Business 

Ethics, with the support of the Marshall & 

Ilsley Corporation Foundation, to help drive 

issues of business ethics in our students’ 

education. 

In the fall, we look forward to the unveiling 

of the David O. Nicholas Applied Finance 

Lab, a new learning laboratory that will 

replicate a fi nancial trading room for 

students in fi nance and other majors (see 

page 3). We are grateful to David O. 

Nicholas (MS-Finance ’87) for sharing 

our vision for the fi nance program and 

supporting this exciting new facility with 

a $2.5 million gift. 

Also later this year, we will launch a new 

business plan competition that will 

encourage students and recent alumni to 

formally develop their business ideas and 

move them forward to the marketplace. 

La Macchia Enterprises and its Chairman 

Bill La Macchia have generously donated 

$250,000 in support of the competition 

and the Lubar School’s entrepreneurship 

program (see page 13). 

So in management education — as in the 

business world itself — we enjoy being 

part of the perpetual cycle of innovation 

and continuous improvement that moves 

all of us forward. 

Our thanks to you — the Lubar School’s 

alumni and friends — for sharing this 

special anniversary year with us, and for 

working with us toward our vision to 

become a leading urban business school 

of national distinction — and a future 

fi lled with opportunity and achievement! 

V. Kanti Prasad 

Dean

Cover Story 

David O. Nicholas Applied 

Finance Lab to Bring Trading 

Room Experience to Students 

David O. Nicholas, President & Chief Investment Offi cer of Nicholas Company, Inc., has 

announced a $2.5 million gift to establish the David O. Nicholas Applied Finance Lab at UWM’s Sheldon 

B. Lubar School of Business. Nicholas is a 1987 graduate of the School’s graduate fi nance program. 

Nicholas envisions that the lab will generate student excitement and interest in the area of investment 

fi nance and will attract additional high quality students to the Lubar School’s fi nance program by 

offering experiential learning that is otherwise available only in the fi nancial workplace. “It will be a 

great training ground for our community’s future investment managers,” he said. 

(continued on next page) 

SPRING 2007 3

Cover Story 

Nicholas Lab 

(continued from previous page) 

“Recent years have witnessed rapid growth 

and development in global fi nancial 

markets and a multi-fold increase in the 

complexity and sophistication of 

invest ment choices and strategies in the 

market place,” said Dean V. Kanti Prasad. 

“The Nicholas Lab will be a bridge between 

the classroom and the world of investment 

fi nance, enhancing our students’ capabilities 

by providing them with sophisticated 

fi nancial databases and investment 

decision-making and management tools.” 

Lab’s Role in the 

Finance Curriculum 

Equipped with state-of-the-art professional 

databases, streaming fi nancial news, 

fi nancial software, and high-power dualmonitor 

computers, the David O. Nicholas 

Applied Finance Lab will feature the 

same technology and real-time market 

data, analysis, and news available to 

professional traders in investment fi rms. 

The lab will also support small group 

presentations, instilling students with the 

collaborative, team-oriented approach 

that is demanded in the industry. 

“It is vital that students are able to communicate 

and present their ideas effectively 

when they graduate,” said Nicholas. “In 

conjunction with the fi nance curriculum, 

this facility will provide them with a 

professional setting to hone those skills.” 

The facility will be complemented by a 

spectrum of curriculum enhancements in 

both the investment and corporate fi nance 

arenas. The Lubar School currently offers a 

BBA in Finance with specialization tracks 

in Investments and Corporate Finance. 

An MS in Management concentration in 

Financial Analysis and a PhD in Finance 

round out the School’s fi nance curriculum. 

Prasad said that the Nicholas Lab will 

further serve as a platform for launching 

4 OUTLOOK 

an Applied Portfolio Management 

program. The program will be aimed at 

training a group of top-notch students to 

master the art and practice of investment 

portfolio management, at scouting and 

producing talented future managers for 

the mutual fund, pension fund, and 

hedge fund industries, and at establishing 

a national reputation for investment 

management education. 

Applied Finance Labs 

Provide Grads with an Edge 

According to a 2006 national survey by 

the Graduate Management Admission 

Council, fi nance graduates are in high 

demand by employers. 

Nationwide, business schools are 

responding to this demand by developing 

similar applied fi nance labs or “trading 

rooms.” Cornell University, Massachusetts 

Institute for Technology, University of 

Houston, University of Minnesota, and 

University of Wisconsin-Madison, among 

others, have employed trading rooms to 

help students better prepare for their 

future careers. 

In addition to allowing students to analyze 

real-time and historical fi nancial data, 

some of the labs also facilitate building 

and managing student investment 

portfolios. Although the School already 

has a Student Investment Club that 

manages a small investment portfolio 

with real money, Nicholas hopes that 

Lubar School students eventually have 

the opportunity to manage a larger fund. 

With the hands-on exposure offered by 

the lab, the chance to earn certifi cations 

in fi nancial software such as Bloomberg 

and others, and the opportunity to 

manage real money in a student-run 

investment fund, said Nicholas, the Lubar 

“leg up” on the competition as they enter 

the professional ranks. 

Southeastern Wisconsin’s 

Strong Financial Sector 

The creation of the Lubar School’s 

Nicholas Applied Finance Lab refl ects the 

overall strength of the fi nancial sector in 

Southeastern Wisconsin, noted Prasad, 

and the important role the Lubar School’s 

fi nance program plays in educating that 

sector’s future managers and leaders. 

According to The Business Journal 

Serving Greater Milwaukee, the area’s 

largest investment managers — including 

Nicholas Company, Mason Street Advisors, 

Baird Advisors, M&I Investment Management, 

Artisan Partners, Heartland 

Advisors, Stark Investment, and Ziegler 

Investment Services Group — account for 

over $150 billion in assets under management. 

In addition, Southeastern Wisconsin 

is headquarters to a number of fi nancial 

industry powerhouses, among them 

Northwestern Mutual and Marshall & 

Ilsley Corporation. 

“The lab will play a key role, not only in 

developing investment management 

expertise in-state, but in retaining that 

talent pool for our large investment 

management community,” said Nicholas. 

“It is very important to both UWM and 

to the community to have this facility.” 

Nicholas Company and 

David O. Nicholas 

Founded by David’s father Albert “Ab” 

Nicholas in 1967, Nicholas Company is a 

Milwaukee “born and bred” fi rm that has 

earned respect and trust in the mutual 

fund arena on a national level. With seven 

no-load mutual funds, as well as separate 

private accounts managed for individual 

School’s fi nance graduates will have a (continued on page 13)

Bradley Distinguished Lecture Series 

Economist Hubbard Credits Sound Policy and 

Nature of American Economy for Its Resilience 

Glenn Hubbard 

In describing America’s strong 

economy to a Milwaukee audience 

recently, Glenn Hubbard used bold 

phrases such as “productivity miracle” 

and “growth revolution of the United 

States.” Hubbard is the former Chairman 

of the President’s Council of Economic 

Advisers (2001-03), and currently serves 

as Dean and Russell L. Carson Professor 

of Finance and Economics at the Columbia 

Business School. 

He spoke to the business community and 

Lubar School alumni at the Bradley 

Distinguished Lecture Series in early April. 

The series is co-sponsored by The Lynde 

and Harry Bradley Foundation and the 

Sheldon B. Lubar School of Business. 

“The American economy has performed 

extraordinarily well through a set of 

shocks that anybody would have called 

devastating, including investment collapse, 

equity market collapse, terrorism, 

accounting scandals, and geopolitical 

risks,” he said. 

Why is this? Hubbard credits both sound 

policy and the foundations of the American 

economy for its resilience. 

“Monetary policy plays a starring role in 

the U.S., both in cushioning the downturns 

and enhancing the upturns,” he stated. 

He also asserted that President Bush’s tax 

policy has had a signifi cant impact on the 

nation’s economic recovery. 

Still, Hubbard argued, too much focus is 

placed on policy developments, when 

much of our experience is due to the 

basic underpinnings of the American 

economy. “There is something about 

American institutions that matters a great 

deal,” he said. 

For example, he noted — because of the 

market for risk capital in the U.S. — 

“we’re able systematically to take funds 

and bring to market types of risks that are 

unheard of in much of the affl uent world.” 

He also pointed to the fact that the 

American labor system allows great 

fl exibility with how we allocate our talent 

— in this country and around the world. 

“But this long term success story is not 

manna from heaven,” he said. “It requires 

stewardship.” 

Though Hubbard is confi dent that 

economic recovery still has very much life 

and room to grow — projecting growth in 

the 2.5% to 3% range with substantial 

upside potential — he cautions against 

specifi c risks. 

These risks include infl ation, the “puzzlingly 

low” capital spending by business, 

and potential overregulation in capital 

markets. 

Hubbard is also concerned about the 

current level of protectionist sentiment in 

the U.S. “Never in my career have I seen 

such support on both sides of the aisle 

and from business leaders,” he stated. If 

this sentiment is translated into policy, he 

said, we run the risk of “derailing” the 

economy. 

“Competition from any source infl uences 

productivity growth and creates an 

incentive to innovate,” he concluded. 

“Trade matters.” 

In addition to his responsibilities at 

Columbia, Glenn Hubbard is a research 

associate at the National Bureau of 

Economic Research and a visiting scholar 

at the American Enterprise Institute in 

Washington. During his term as CEA 

Chairman, he chaired the Economic 

Policy Committee of the OECD. He was 

Deputy Assistant Secretary of the U.S. 

Treasury Department for Tax Policy from 

1991-93. 

SPRING 2007 5

Accounting and Tax Alumni Celebrate in Style! 

(Clockwise from top) Northwestern Mutual’s 

Meridee Maynard (‘77) served as the 

evening’s emcee; Professor Paul Fischer with 

FASB’s Dr. Thomas Linsmeier and Dean Kanti 

Prasad; Professor Bill Taylor (second from 

right) shares a laugh with former students; 

Emeritus Professor Jerry Leer receives a 

standing ovation. 

6 OUTLOOK 

Close to 300 Lubar School accounting and taxation alumni, 

faculty, and friends gathered at the Italian Community Center 

last November to celebrate the School’s 40th anniversary and 

its great accounting program, and to reconnect with fellow classmates. 

Meridee Maynard (BBA-Accounting ’77), Senior Vice President-Life 

Product at Northwestern Mutual, led a “star studded” evening as the 

event’s emcee, providing a look back at the early days of the program 

and reminiscing about faculty and the closely-knit group of students 

that have gone through the program.

The reunion celebration also featured remarks by Dean V. Kanti 

Prasad and Jerry Leer Professor of Accounting Paul Fischer, as 

well as a keynote address by Thomas J. Linsmeier (BBA-Accounting 

’78), newly appointed member of the Financial Accounting 

Standards Board (see next page). Linsmeier also received the 

Distinguished Accounting Alumnus Award, recognizing his 

outstanding achievements in the profession. 

Emeritus Professor Jerry Leer was met with a standing ovation as 

he stepped forward to receive the Founders Award for his pivotal 

role as a founding member of the Lubar School’s faculty. Professor 

Bill Taylor, who retired from the faculty this fall (see page 20), 

was honored for his many years of service and dedication to 

students. And Peter Tellier (BBA-Accounting ’72, MBA ‘74) was 

presented with an Outstanding Supporter Award for his efforts to 

establish and build the Leer/Tellier Scholarship Fund. 

The accounting alumni are discussing future events they’d like to 

organize. Would you like to be involved? Please contact Kris Piwek 

at kpiwek@uwm.edu or (414) 229-6297. 

Accounting and Tax alumni from fi ve decades 

— the sixties through the “oughties” — attended 

the reunion celebration. It was a great evening for 

reminiscing and catching up! 

SPRING 2007 7

Accounting Alum Appointed to FASB 

Addresses Fellow Alumni at November Event 

8 OUTLOOK 

Thomas J. Linsmeier 

Thomas J. Linsmeier (BBA- 

Accounting ’78) has been appointed to 

the Financial Accounting Standards 

Board (FASB) — the organization which 

establishes standards of fi nancial 

accounting and reporting that are 

essential to the effi cient functioning of 

the U.S. economy. 

An award winning teacher and researcher, 

with particular expertise in fi nancial 

reporting for derivatives and risk management 

activities, Linsmeier’s road to 

accounting started at UWM, where he 

earned a BBA in Accounting in 1978. 

After receiving his MBA and PhD from 

the University of Wisconsin-Madison, he 

began his academic career at the University 

of Iowa in 1985. 

In 1994, he became an Academic Fellow 

and Special Consultant in the Offi ce of the 

Chief Accountant of the U.S. Securities 

and Exchange Commission, where he was 

responsible for formulating U.S. disclosure 

rules for reporting market risks inherent in 

derivatives and other fi nancial instruments. 

He later joined the faculties of the 

University of Illinois and Queen’s University 

in Canada. Linsmeier recently left his 

position as the Russell E. Palmer Endowed 

Professor and Chairman of the Department 

of Accounting and Information Systems 

in the Eli Broad College of Business at 

Michigan State University to accept the 

FASB appointment. 

Speaking at the Lubar School’s 40th 

anniversary event for accounting and 

taxation alumni, Linsmeier told the 

audience that two key factors play into 

the future of the profession. First, as 

global integration of markets continues, 

there will be accelerating demand by 

investors for one set of international 

fi nancial reporting standards. The second 

factor, he said, is whether corporate 

accounting scandals will continue to “rear 

their ugly heads” — noting that such 

scandals have occurred in the U.S. at the 

end of every boom cycle starting with the 

Crash of 1929. 

Linsmeier highlighted three challenges 

that his fellow alumni will face in coming 

years. 

First, he said, accounting professionals 

need to strive to understand the changing 

fi nancial reporting needs of investors — 

including both debt and equity. 

Second, accountants must educate them - 

selves about fair value measurements and 

accounting. “If we don’t,” he said, “our 

profession — and profi ts — may be 

controlled by the valuation profession.” 

Last, he stressed the need to improve 

audits to detect fraud, being “even more 

healthily skeptical” at the end of boom 

cycles. 

“We come from UWM’s great accounting 

program — with high education standards 

and outstanding people,” he concluded. 

“Meeting these challenges should be 

easy!”

Alumni Profile 

The “Davis” Brand 

Steve Davis 

Chairman of the Board and 

Chief Executive Offi cer 

Bob Evans Farms, Inc. 

BBA-Marketing, 1980 

W 

hen Steve Davis (BBA-Marketing ’80) talks about his 

education at UWM’s business school, he is proud to 

note that he is the youngest of fi ve siblings who are all 

UWM graduates. 

Steve, sisters Theresa, Peggy, and Beverly, and brother Henry (a 

’73 business grad and a member of the UWM Athletic Hall of 

Fame for basketball), attended UWM throughout the decade of 

the 70s, with Steve the last to graduate in 1980. 

It was a veritable “Davis” brand on the UWM campus. 

Which is a fi tting analogy for Steve Davis, who has built an 

outstanding executive career among some of the country’s most 

recognizable brand names in the food and restaurant industry — 

Velveeta, Cheez Whiz, Budget Gourmet, Pizza Hut, Long John 

Silver’s and, now, Bob Evans Farms. 

“I have truly been blessed to work with the top brands in their 

respective industries,” said Davis. 

Davis was named Chief Executive Offi cer of Bob Evans Farms, Inc. 

in May of 2006, and has subsequently been appointed Chairman 

of the Board. Bob Evans specializes in bringing farm-fresh foods 

to its customers through its Bob Evans and Mimi’s Café restaurants, 

as well as through retail food products. The Ohio-based company 

has annual sales of approximately $1.6 billion. 

Before taking the helm at Bob Evans, Davis worked at Yum! 

Brands, Inc., where he was President of Long John Silver’s and 

A&W All-American Food Restaurants since 2002. Previously, he 

served as Vice President of Operations and Senior Vice President 

of Concept Development for Yum! Brands Pizza Hut division, 

where his team launched the Wing Street Concept — a multi- 

branding approach that is now widely used in the quick service 

restaurant industry. 

Prior to joining Pizza Hut in 1993, Davis enjoyed a nine-year 

career with Kraft Foods, starting out as a brand assistant and 

steadily advancing to Director of Marketing for the Budget 

Gourmet brand. In between, he held a series of brand management 

positions in Kraft’s cheese business where he launched 

several successful new products and marketing campaigns. 

In addition to his degree from UWM, Steve Davis earned an MBA 

from the University of Chicago. He was recognized in 2005 as 

one of the “75 Most Powerful Black Men in American Business” 

by Black Enterprise Magazine, and Black MBA Magazine named 

him one of the “Top 50 Under 50.” 

Davis, who worked for two years as an intern at Northwestern 

Mutual while he was an undergraduate, said that his business 

education and the professional experience he gained while a 

student allowed him to tailor his education to his needs and 

provided important career grooming. “Additionally, I had 

wonderful, approachable professors and TA’s,” he shared. “I 

really had a great education and a great time at UWM.” 

Mostly, though, Davis attributes the “founders” of the “Davis” 

brand — his parents — with his success. 

“My parents are incredible people,” said Davis. Although neither 

was college educated, Henry and Dolores Davis preached the 

value of education to their children and encouraged them at 

every juncture, through Messmer High School, UWM, and 

beyond. “All the credit for what we have achieved and who we 

are today goes to them.” 

SPRING 2007 9

Great Journeys: An Inspirational Series 

Dennis Kuester Tells Students: 

“The Golden Rule is the Gold Standard” 

Dennis J. Kuester (’66), Chairman 

of Marshall & Ilsley Corporation, addressed 

Lubar business students last fall in Great 

Journeys: An Inspirational Series about a 

topic that he described as “critical to our 

company and to me personally” — 

business ethics. 

Marshall & Ilsley Corporation is a 

diversifi ed fi nancial services company 

headquartered in Milwaukee with $56.2 

billion in assets. Founded in 1847, M&I 

Marshall & Ilsley Bank is the largest 

Wisconsin-based bank. It also owns 

Metavante Corporation, which provides 

a full array of technology projects and 

services for the fi nancial services industry. 

Kuester was proud to note that Marshall 

& Ilsley won the Better Business Bureau’s 

2006 Torch Award, which recognizes 

business that demonstrate ethical business 

practices and help foster ethics within 

their industry and community. 

“Over the company’s 160 year history, we 

have remained consistent with some very 

basic principles regarding customers, 

employees, shareholders, and the 

community,” Kuester told students. 

“Most importantly, each decision that we 

make is guided by The Golden Rule.” 

Indeed, the company asserts that clearly 

in its mission statement. 

The Golden Rule — “do unto others as 

you would have them do unto you” — is 

not religion-specifi c, he noted. In fact, 

the concept manifests itself in all major 

religions of the world. “It is a universal 

idea. It transcends laws.” 

Put into practice, following The Golden 

Rule means doing the “right thing,” 

10 OUTLOOK 

Dennis J. Kuester 

possessing an “others fi rst” mindset, 

making character decisions, sacrifi cing 

fi nances for family, and basing your worth 

on your values. 

Looked at another way, he said, “it means 

developing a relationship with your 

activities — not a rationale for them.” 

Kuester also advised students not to confuse 

high moral standards with weakness. 

“99.9% of the companies we deal with insist 

on high ethical standards,” he stated. “The 

Enrons of the world are the exception.” 

And when facing ethical dilemmas, Kuester 

reminded students that they have a free 

will to pursue their convictions — whether 

that be attempting to win others over to 

your opinion, stepping away from the 

situation, or contacting authorities, if the 

situation warrants. 

A Milwaukee native who came from a 

modest background, Dennis Kuester 

graduated from the School of Business in 

1966. After ten years with IBM, he joined 

Marshall & Ilsley as Vice President of M&I 

Data Services — now known as Metavante 

Corporation. He rose through the 

corporate ranks to become president of 

Marshall & Ilsley Corporation in 1987, 

CEO in 2002, and Chairman and CEO in 

2005. He stepped down as CEO of the 

company this April, but continues in his 

role as Chairman of both Marshall & Ilsley 

and Metavante. 

Great Journeys: An Inspirational Series 

helps shape students’ understanding of 

ethics, integrity, and leadership. It 

features exceptional “role model” business 

leaders who share the guiding values, 

transforming infl uences, successes, and 

challenges in their lives, and inspire the 

next generation to embark on their own 

“great journeys.” The Series is sponsored 

by the School’s M&I Marshall & Ilsley 

Center for Business Ethics.

Alumni Profile 

Driving Growth 

Strategies 

Margaret “Peggy” Kelsey 

Vice President, Finance – 

Corporate Treasury and 

Business Development 

Modine Manufacturing Company 

Executive MBA, 2006 

Talking about Modine Manufacturing’s global presence as 

she stands in front of a semi-trailer truck inside the 

company’s giant wind tunnel is just part of another day 

for Margaret “Peggy” Kelsey (EMBA ’06). 

The Sturgeon Bay native is equally at ease on the fl oor of the 

company’s state-of-the-art testing facilities as she is sitting in her 

offi ce discussing her new role as Vice President, Finance- 

Corporate Treasury and Business Development. 

Modine is a diversifi ed global leader in thermal management 

technology and solutions with 2006 revenues of $1.6 billion. The 

company’s heating and cooling technologies are used in light, 

medium, and heavy-duty vehicles, HVAC equipment, industrial 

equipment, refrigeration systems, fuel cells, and electronics. 

Head quartered in Racine, Modine employs approximately 8,500 

people at 34 facilities worldwide. Kelsey has played a key role in 

the company’s expansion globally, including acquisitions in Korea 

and England. 

Kelsey sees tremendous opportunity for her areas of responsibility 

— which include treasury operations, risk management, and 

business development — to impact Modine’s growth strategies. 

“We don’t just support those strategies,” she stated. “We’re a 

strategic partner in the process that drives them.” 

A self-described “forest person, not a tree person,” Kelsey approaches 

decisions from a strategic vantage point. “I think like a lawyer,” she 

said. “I tend to see the whole picture, play it out fi ve steps down the 

line, and plot strategy accordingly. That’s how my brain works.” 

Peggy Kelsey joined Modine in April 2001 as Senior Counsel and 

was promoted to an offi cer the following year. Prior to Modine, 

she was a partner specializing in product liability litigation in the 

Milwaukee offi ce of Quarles & Brady, LLP. She received an 

undergraduate degree in history from Mount Mary College, a 

law degree from Georgetown University, graduating magna cum 

laude, and her Executive MBA from UWM in 2006. 

Shortly after she joined Modine, Kelsey’s mentor encouraged her 

to pursue an MBA to enhance her business acumen. The idea 

kept surfacing as she contemplated her career goals and the path 

it would take to reach them. 

Now — a year out of the Executive MBA program and recently 

promoted to her new executive role — Kelsey says that her EMBA 

not only provided her with substantive information for making 

decisions, but the “business antennae” to identify and understand 

issues better at the corporate level. 

Most signifi cant, she says, was the insight she gained into leadership 

through the program, which challenged her to reassess who 

she thought she was as a leader. “I have really been able to put 

that to use to make myself a more effective leader for the company.” 

While her professional successes stand out, it’s her personal 

accomplishments that mean the most to Kelsey and keep her 

grounded. The mother of a 14-year old daughter and twin 

11-year old sons, she’s an executive by day, but just plain “Mom” 

at night — a title she wears proudly. She is also quick to point 

out that she owes much of her success to her husband, Mike, who 

left his cooking career to become a “stay at home dad.” 

“It sounds cliché,” she said. “But my kids and family are what’s 

most important to me.” 

SPRING 2007 11

Entrepreneur Internship Program 

Students Gain Unique Experience Through 


The Lubar School’s Entrepreneur 

Internship Program continues to 

gain a strong reputation among 

business students and partner companies 

participating in the program. 

Established in 2002 with seed funding 

from the Ewing Marion Kauffman 

Foundation, UWM’s program has placed 

56 students in a wide variety of 

entrepreneurial fi rms — including 

internet, manufacturing, service, and 

high-tech ventures. Upon graduation, a 

number of students have become fulltime 

employees of the fi rms with which 

they interned. 

“The program is designed to give students 

hands-on experience and personal insight 

into running an entrepreneurial 

enterprise,” said Dean and Bostrom 

Fall 2006 Entrepreneur Interns (left to 

right) Yuri Fu (FiveTwelve Group), Matt 

Hobler (Wisconsin Business Development 

Corp.), Chia Yi Hung (WEBbeams), 

Rachel Kuebbing (BuySeasons, Inc.), Amy 

Buelow (EMTEQ Aerospace), and Clay 

Stroner (Heartland Information Research). 

12 OUTLOOK 

Professor of Entrepreneurship V. Kanti 

Prasad. “It also provides our partner 

companies with highly qualifi ed interns 

who work on a variety of business projects 

— many of them quite strategic in nature, 

such as business plans, marketing plans 

or fi nancial analysis.” 

“My internship provided me with an 

opportunity to test myself and see if 

entrepreneurship is a viable option for 

me,” said Jon Ferch, who served as 

General Manager of Optimal Handling 

Solutions during his internship, with 

responsibilities for marketing, sales, 

accounting, and collection. Optimal 

Handling Solutions is a materials handling 

supplier with a strong internet presence. 

“If not for this program, I don’t know how 

I could have gained invaluable business 

experience like this.” 

“It’s fantastic to take these students, 

expose them to the nuts and bolts of an 

entrepreneurial business, and see what 

they can do,” said Ferch’s internship host, 

Jim Hunter, President of MII Equipment, 

Inc. and Jon Ferch’s entrepreneur mentor 

during his internship. “I’ve been very 

impressed by students like Jon who have 

stepped up to the plate and really showed 

results. It’s a ‘give and take’ for both the 

intern and the company.” 

The Entrepreneur Internship Program 

complements the School’s undergraduate 

Entrepreneurship Certifi cate program and 

MBA program emphasis in entrepreneurship. 

The UWM chapter of the Collegiate 

Entrepreneurs Organization offers 

additional networking and professional 

development opportunities for students 

interested in exploring entrepreneurship.


La Macchia Enterprises Makes a Major Gift 

to Support Entrepreneurship Initiatives 

William E. La Macchia 

La Macchia Enterprises, the parent 

company of The Mark Travel 

Company and Trisept Solutions, 

has announced a gift of $250,000 in 

Nicholas Lab 

(continued from page 4) 

and institutional investors, the fi rm concentrates 

on independent, primary 

research and performance, offering low 

cost and low minimum investments to its 

clients. It boasts $3.5 billion in assets 

under management. 

After graduating with a bachelor’s degree 

in fi nance and information technology 

from UW-Madison, David Nicholas 

accepted a position as a Credit Analyst at 

First Wisconsin. He joined the Nicholas 

Company in 1986, and became President 

in 1998. Today, in addition to serving as 

both President and Chief Investment 

support of the Lubar School’s entrepreneurship 

program and initiatives. 

“We are happy that our gift will contribute 

to nurturing the entrepreneurial spirit 

and skills of UWM’s Lubar School 

students, who are so vital to the economic 

future of our region,” said William E. 

La Macchia, Chairman of the company. 

The gift will support La Macchia Enterprises 

Entrepreneur Interns, professional development 

for students to attend national and 

regional entrepreneurship conferences, 

and other related activities and events. 

In addition, the gift will establish an annual 

business plan competition in the Lubar 

School, set to launch this fall, which will 

Offi cer of the fi rm, David is the Portfolio 

Manager for two of the fi rm’s mutual funds. 

David Nicholas enrolled in the MS-Finance 

program at UWM while working at First 

Wisconsin — working full-time while 

getting his graduate degree, as do the 

majority of Lubar School graduate students. 

He continues to be actively involved at 

UWM, as a member of the Lubar School’s 

Business Advisory Council and the UWM 

Foundation Board of Directors, and as a 

major fan and supporter of Panther 

Basketball. 

provide students with the opportunity to 

learn about entrepreneurship through 

the development and presentation of an 

innovative new venture idea to a panel of 

judges. Participants in the competition 

will have an opportunity to attend 

work shops on the elements of business 

plans, and to compete for cash prizes that 

could be used to further the successful 

commercialization of their ideas. 

“This most generous gift from La Macchia 

Enterprises is refl ective of the exemplary 

entrepreneurial spirit and achievements 

of Mr. William La Macchia, the company’s 

founder, “said Dean V. Kanti Prasad. “It 

will provide tremendous opportunities for 

our students, and will have a great impact 

on the next generation of entrepreneurs.” 

“David Nicholas is a thoughtful and 

generous business leader who helps in 

so many ways to enhance the stature of 

UWM and the Lubar School,” stated 

Prasad. “We are delighted and honored 

to be working with him to expand our 

capabilities in the area of investment 

fi nance, and to provide our students with 

valuable expertise and hands-on learning 

experiences in investment management. 

The state-of-the-art Nicholas Lab will be 

a ‘win-win’ for the Lubar School, our 

students, and Milwaukee’s investment 

community.” 

SPRING 2007 13

Miller Urban Entrepreneurs Series 

Apprentice’s Pinkett Speaks at 

Miller Urban Entrepreneurs Series 

Randall Pinkett 

Sun’s Project Blackbox Stops at UWM 

The Center for Technology Innovation 

at UWM’s Sheldon B. Lubar School of 

Business hosted Sun Microsystems 

Project Blackbox in front of Lubar Hall in 

March. A complete datacenter in a standard, 

20-foot shipping container, Project Blackbox 

packages computing, storage, and network 

infrastructure, along with high-effi ciency power 

and cooling, into modular units based on 

standard shipping containers. The system is 

optimized for rapid deployment and extreme 

energy, space, and performance effi ciency. The 

Project Blackbox datacenter can support 10,000 

simultaneous workstations. The mobile facility 

was open for tours to the campus and business 

communities during its UWM visit — the only 

Wisconsin stop on its national tour. 

14 OUTLOOK 

Dr. Randall Pinkett, the winner 

of Season 4 of NBC’s The Apprentice, 

spoke to a capacity crowd at the Miller 

Urban Entrepreneurs Series at Lubar Hall 

in November. Pinkett is the Co-Founder, 

President and CEO of BCT Partners, a 

multimillion dollar management, 

technology, and policy consulting fi rm 

based in Newark, New Jersey. 

The series is sponsored by Miller Brewing 

Company and is held nationwide in six 

major cities. The Milwaukee program was 

co-hosted by the Sheldon B. Lubar School 

of Business and The Milwaukee Urban 

League. It featured a full day of workshops 

on formulating a business plan, with the 

goal of providing current and future 

entrepreneurs with insights into starting 

and maintaining a successful business. 

Pinkett told the audience that success 

comes by creating business enterprises — 

not small businesses. 

“Enterprises stand the test of time,” he 

said. “They don’t need to be large, but 

they need to perpetuate a mission and a 

vision for the future.” 

Critical to the successful business enter - 

prise, he said: formalizing your company’s 

response to change, committing to 

technology as fundamental to the fi rm’s 

success, and taking advantage of formal 

and semi-formal strategic partnerships 

with other businesses. 

The 2007 Miller Urban Entrepreneurs 

Series is being planned for October.

Beta Gamma Sigma 

Rockwell’s Nosbusch 

Addresses Honors Students 

“ 

When I graduated from college, 

IBM was a lifetime employer 

and Allen-Bradley was a private 

company,” noted Keith D. Nosbsuch in an 

address to business honors students. 

Nosbusch is the Chairman and Chief 

Executive Offi cer of Rockwell Automation 

and a 1978 graduate of the Lubar School’s 

MBA program. 

The lesson to be learned from that simple 

statement, according to Nosbusch? Where 

things are today is likely not where they will 

be down the road. And as future business 

leaders, he advised students, they need to 

be prepared. 

Nosbusch was the keynote speaker and 

Beta Gamma Sigma honoree at the November 

induction ceremony of the national 

business honor society. He addressed an 

audience of about 120 people, including 

inductees, their family members and 

friends, and Sheldon B. Lubar School of 

Business faculty and staff. 

“The prerequisite for success in business 

is all about leadership,” Nosbusch told 

students. 

In this constantly changing world, leaders 

must be able to thrive in an atmosphere of 

ambiguity and uncertainty, he said. “Most 

PhD CLASS 

Lucy A. Arendt 

MASTERS CLASS 

Danelle M. Bohringer 

Mariam E. Cass 

William D. Donegan 

Michelle E. Gilbert 

problems are complex, and a leader needs 

to not only understand that, but to apply 

some structure to the situation,” he said. 

Leadership also requires the ability to look 

at the world realistically and to have the 

courage to make the right decisions and 

the tough decisions. 

Last, Nosbusch said, great leaders want to 

shape the future. “You can’t be comfortable 

with the status quo,” he stated. “You have 

to be willing to drive change, to view it as 

an opportunity.” 

Rockwell Automation is a global leader in 

industrial automation power, control, and 

information solutions with its world head - 

quarters in Milwaukee. One of Wisconsin’s 

largest companies, Rockwell employs 

about 21,000 people worldwide, serves 

customers in more than 80 countries, and 

boasts annual sales in excess of $5 billion. 

Keith Nosbusch’s career began in 1974 

when he joined the Allen-Bradley Company 

as an application engineer. He rose 

steadily at Allen-Bradley and later at 

Rockwell, where he quickly entered the 

executive ranks. Prior to becoming the 

company’s Chairman and CEO, Nosbusch 

served in a number of positions, including 

as the president of Rockwell Automation 

Keith D. Nosbusch 

Thirty-four students were inducted into Beta Gamma Sigma at the November ceremony: 

Lauren M. Mader 

Kelly E. Pamperin 

Shuchita Singal 

Jody Trehus-Krainer 

Kari L. Vanderhoef 

Ralph R. Williams 

Jeremy A. Yardley 

SENIOR CLASS 

Stephanie M. Backes 

Jon E. Ferch II 

Meghan L. Hipsak 

Ling Hu 

Abby M. Karnthaler 

Matthew S. Kult 

Kurt F. Servais 

Control Systems, and senior vice president 

of the Control and Information Group. 

In addition to signifi cant civic and com munity 

involvement, he is an active member 

of the Lubar School’s Business Advisory 

Council and a co-chair of the university’s 

comprehensive capital campaign. 

JUNIOR CLASS 

Erik L. Beardsley 

Mark J. Boettcher 

Elizabeth R. Ehlers 

Sara A. Flom 

Jordan J. Gindt 

Heather L. Howland 

Rachel L. Hustad 

Harpreet Kaur 

Laura M. Manoni 

Lindsey M. Ostrowski 

John M. Pryor 

Nicole S. Rosen 

Emily A. Scherkenbach 

Pa Vang 

John C. Wegner 

SPRING 2007 15

Faculty Research 

Managing Intellectual Property as 

Discretionary Investment Opportunities 

Biopharmaceutical fi rms can achieve 

the greatest success by managing 

their intellectual property as 

dis cre tionary investment opportunities 

or real options, according to research 

being con ducted by Edward Levitas, 

Asso ciate Professor of Organiza tions and 

Strategic Management. Levitas is working 

on a stream of research related to fi rms’ 

inven tive activities, particularly in the con - 

text of biotechnology-based pharmaceutical 

fi rms. 

Contrary to many popular opinions, a 

patent does not guarantee the owner/ 

assignee a certain product or immediate 

cash fl ows. In fact, evidence suggests that 

about 90% of all patented technologies are 

never even transformed into marketable 

products. 

Rather, a patent only provides the owner 

with the right to exclude others from 

using the technology for a limited period. 

Upon patent granting, therefore, managers 

16 OUTLOOK 

Edward Levitas 

do not obtain immediate clearance to 

commercialize a technology, but only 

obtain exclusive options on ways in which 

to attempt to exploit the technology. 

Patents as Real Options 

Many academics and practitioners now 

accept the idea that a fi rm’s value can be 

“decomposed” into two basic components, 

says Levitas — the value of cash fl ows from 

its current operations and the value of 

discretionary investment opportunities, or 

options, embedded in the fi rm’s resources. 

These embedded options provide the 

fi rm with fl exibility to alter operations in 

the face of environmental change. 

For example, upon being granted a patent, 

the fi rm is essentially given a number of 

exclusive options — such as the ability to 

attempt to manufacture a product based 

on the underlying technology, the ability 

to license the technology to another 

entity, the ability to further develop the 

technology into something more 

potentially valuable, the right to defer 

decision on the technology, and even the 

right to abandon the technology. 

Important Implications for 

Management Practice 

The distinction between current cash fl ows 

and future options may seem pedestrian, 

says Levitas, but it does have important 

implications for management practice. 

Most investments suffer from a degree of 

irreversibility — such as building or 

expanding research facilities — or the 

inability to fully recover the investment if 

plans change — which could occur during 

the marketing or promotion of a new 

pharmaceutical product. 

When future conditions are highly 

uncer tain, Levitas’ research indicates 

that it is advisable to make a series of 

incremental investments, when feasible, 

rather than commit unconditionally at 

the outset to a project. Assuming that a 

project can be terminated after each 

stage, incremental investing allows the 

fi rm to avoid committing the whole cost 

of the project upfront, and permits the 

gathering of information over time to 

assess whether the next investment (and 

the entire project) remains feasible. 

In short, he says, incremental investing 

allows for the cultivation of options. 

Options and 

Biopharmaceuticals 

Within the biopharmaceutical industry, 

companies face a host of uncertainties 

during product development. A company 

may discover mid-stream that there are 

low probabilities that the technology will 

be safe and effective in humans. Or a 

therapeutically effective treatment may not 

meet the standards of societal acceptability. 

Given such uncertainties, Levitas says that 

managers of these organizations should 

pay careful attention to managing their 

fi rms’ portfolios of technology options. 

Mismanagement of these options, such as 

over-committing to a project in times of 

uncertainty, can have drastic consequences. 

For example, committing to the building 

of a pilot plant to manufacture a drug for 

FDA clinical trials before assessing the 

effi cacy of the drug in animal models, or 

before assessing the degree to which the 

drug will be socially accepted, subjects 

the company to considerable risk of 

investment loss.

Faculty Research 

“Option” Value of Patents 

Levitas and research colleague Tailan Chi 

of the University of Kansas have found 

evidence that patents provide “option” 

value to biopharmaceutical fi rms. This 

value is highest when uncertainty due to 

external forces within the industry is 

highest, suggesting that options provide 

the greatest benefi t to fi rms by endowing 

them with multiple opportunities to 

respond to uncertainty. 

Furthermore, they fi nd that committing 

to large capital expenditures during times 

of high uncertainty results in lower fi rm 

value. From these results, they conclude 

that patenting by itself may or may not 

create value. Value creation results from 

carefully juxtaposing patenting with 

conditions of uncertainty. 

In addition, a strategy of incremental 

investment tends to be more conducive 

to value creation when there is high 

uncertainty. On the other hand, a 

strategy of aggressive investment through 

accelerated development or commercialization 

is more viable when there is 

low external uncertainty. 

Flexibility of Holding a 

Portfolio of Options 

A separate recent study by Levitas and 

Chi tests the idea that a portfolio of 

options on multiple assets is more 

valuable than an option on a portfolio of 

assets. The basic idea behind this study is 

that holding a portfolio of options on 

multiple assets affords greater fl exibility 

and thus provides a higher value than 

holding an option on a portfolio of the 

same assets. The fl exibility stems from 

the fact that the holder of the option 

portfolio is able to exercise the option on 

each asset individually while the holder of 

the option on the asset portfolio can only 

purchase all the assets in the portfolio. 


Research Seminar Series 

The fall semester Research 

Seminar Series — which 

provides a campus forum for 

stimulating research scholarship 

through the sharing of cutting-edge 

research — featured the following 

presentations: 

“Assimilation of Interorganizational 

Business Process Standards” was 

presented by Viswanath Venkatesh, 

The George and Boyce Billingley Chair 

of Information systems at the University 

of Arkansas. Dr. Venkatesh is a top 

researcher focusing on technology 

diffusion in organizations and homes. 

“What Are They Thinking? Capturing 

Uncertainty When Respondents Are 

Unsure of Their Likelihoods of an Event” 

was presented by Professor Emeritus 

Paul C. Nystrom and Professor Ehsan 

Soofi of Production and Operations 

Management faculty. Dr. Nystrom has 

published research on management 

topics such as the adoption of tech no logical 

innovations, corporate turnarounds, 

organizational growth, executive decision 

making, and designs for multinational 

corporations. Dr. Soofi is internationally 

recognized for his theoretical and 

applied research in information theory 

and statistics, developing information 

measures for statistical and management 

science problems and showing 

their usefulness in business, economic, 

and other applications. 

“Relational Investing: Evidence from 

Actively Managed Mutual Funds” 

featured Pengfei Ye, a doctoral 

candidate in the fi nance area. 

“Maximum Entropy Data Disclosure: 

100% Confi dentiality Protection 

Guaranteed” was presented by Kurt 

Pfl ughoeft of Market Probe Inc. 

Dr. Pfl ughoeft received his PhD in 

Management Science from the 

University of Wisconsin–Milwaukee. 

“The Faces of Asset Securitization” 

featured Assistant Professor Valeriy 

Sibilkov of the Finance faculty. Dr. 

Sibilkov’s current research is focused on 

capital structure, corporate cash 

policies, and corporate governance. 

“Beyond Succession: Frameworks for 

Investigating Content and Process in 

Family Business Research” was presented 

by G.T. (Tom) Lumpkin, Kent R. Hance 

Regents Chair and Professor of Entrepreneurship 

at Texas Tech University. Dr. 

Lumpkin publishes widely on the topics 

of entrepreneurial orientation, family 

orientation, opportunity recognition, 

new venture strategies, and strategy 

making processes. 

“Does Corporate Headquarters Location 

Matter for Corporate Financial Policies?” 

featured Wenlian Gao, a doctoral 

candidate in fi nance. 

“Managing Liquidity in Research- 

Intensive Firms: Signaling Effects of 

Patents and Managerial Ownership” was 

presented by Associate Professor 

Edward Levitas of the Organizations 

and Strategic Management faculty. Dr. 

Levitas specializes in strategic management, 

with a current research focus on 

technology and new product development, 

primarily among biotechnology 

and pharmaceutical fi rms. 

Professor and Roger L. Fitzsimonds 

Distinguished Scholar Ehsan Soofi , of 

the Production and Operations 

Management faculty, serves as the Series 

Coordinator. 

SPRING 2007 17

In Memoriam 

Roger L. Fitzsimonds (’60, ’71, ’89) 

Roger L. Fitzsimonds 

UWM business school graduate and 

distinguished business leader Roger L. 

Fitzsimonds (BBA ’60, MBA ’71, Honorary 

Doctorate ’89) left a legacy of commitment 

to family, community, and UWM when he 

passed away this March at age 68. 

Fitzsimonds was the retired Chairman and 

CEO of Firstar Corporation, capping a 35year 

career that he began in 1964 as a management 

trainee with what was then First 

Wisconsin National Bank of Milwaukee. 

Managing Intellectual Property 


This is especially important in the 

biopharmaceutical industry since, in 

some cases, the technology simply does 

not work in practice as it did in testing. 

A clear example is the demonstration of 

the effi cacy of pharmaceutical candidates 

in animal models that is not replicated in 

human subjects. 

In other cases, competing products 

preempt the profi table commercial 

introduction of a technology. A defi ciency 

18 OUTLOOK 

“He was a visionary in the world of 

banking,” said Sheldon B. Lubar, a friend 

of Fitzsimonds as well as a former Firstar 

board member. 

Applying his organizational and human 

relations skills to a host of community 

initiatives, Fitzsimonds was also a dominant 

fi gure on the Greater Milwaukee Com - 

mittee, the Metropolitan Milwaukee 

Association of Commerce, the Boys & 

Girls Club of Greater Milwaukee, and at 

the University of Wisconsin–Milwaukee. 

Edward J. Zore, President & CEO of North - 

western Mutual, has called Fitzsimonds’ 

footprint on our community “huge.” 

Fitzsimonds credited UWM and its 

business school for much of his success. 

He earned his BBA while working full 

time, and later pursued his MBA, “not for 

the piece of paper but the tools to be 

successful,” he said. 

He continued his involvement with the 

university as a member and past president 

of the Lubar School’s Business Advisory 

in complimentary assets such as trained 

sales force, manufacturing capacities or 

even a legal team needed to defend the 

legitimacy of the patented technology 

may also reduce the commercial viability 

of a technology. 

Levitas concludes that greater fl exibility in 

terms of decisions with which to confront 

contingencies is critical to vitality in 

technological dynamic environments. 

Council and the UWM Foundation Board 

of Directors. 

In 2003, he established the Roger L. 

Fitzsimonds Scholarly Achievement Fund 

within the Lubar School to promote 

scholarly excellence among faculty and 

doctoral students. “We have to have 

excellence in the School, because that’s 

where we send people to get their degrees, 

and, just as importantly, that’s where we 

send them to continue their education in 

this competitive world,” he said. 

“Roger was one of those people who was 

larger than life, and whose energy and 

spirit were inspiring,” shared Dean V. 

Kanti Prasad. “Throughout his life, he 

was a committed and involved supporter 

of our business school and UWM. We will 

dearly miss Roger as a business leader and 

as a friend.” 

Roger Fitzsimonds is survived by his wife 

of 49 years, Lee, their children and 

grandchildren, and many other family 

members and friends. 

Dr. Edward Levitas specializes in strategic 

management. In addition to his research 

into technology and new product development 

in biotechnology and pharmaceutical fi rms, 

he has examined how strategic alliances, 

fi nancial asset availability, technology 

transfers, and managerial incentives affect 

fi rm innovation and survival. He earned 

his PhD from Texas A&M University.

Awards and Honors 

Northwestern Mutual Receives 

2006 Baird Management Excellence Award 

Edward J. Zore 

Edward J. Zore, President & CEO of Northwestern Mutual., accepted the 2006 Baird 

Management Excellence Award at a luncheon program in Novem ber. The award is presented 

annually to a company that has demonstrated superior performance on behalf of its customers, 

employees, shareholders, and the com munities in which it operates. The annual event is cosponsored 

by Robert W. Baird & Co. and UWM’s Executive MBA Alumni Association. 

“Beyond its phenomenal success, North western Mutual is highly respected within the industry 

and throughout corporate America for the value they place on quality and integrity,” said 

Paul E. Purcell, Baird’s Chairman, President & CEO. 

Based in Milwaukee, Northwestern Mutual is market share leader for total individual life 

insurance premiums of any company in the United States, with over $1 trillion of individual 

life insurance in force. Through 4,800 employees in Milwaukee and fi nancial representatives 

in 350 offi ces nationwide, the company offers more than 3 million policy owners an array of 

fi nancial services, such as insurance products, investment products, and advisory services to 

help protect them against risk and achieve fi nancial security. The company celebrates its 

150th anniversary in 2007. 

Emeritus Professor Jerry Leer 

Recognized on UWM’s Spaights Plaza 

Emeritus Professor Jerry Leer was honored with UWM’s Spaights Award this past fall. The 

award recognizes individuals who have made signifi cant, enduring, and campus-wide contributions 

to the growth, development, and reputation of UWM. 

An accounting professor for 37 years, Leer originally joined the faculty of the Milwaukee campus 

of the UW Division of Commerce in 1946, and became a member of the UWM faculty when the 

University of Wisconsin–Milwaukee campus was created 10 years later. 

“Throughout his career, Professor Leer was well known as a master teacher and for establishing a 

discipline of professionalism among his students that became the foundation for their professional 

success and integrity,” said Dean V. Kanti Prasad. 

Former student Dennis J. Kuester (’66), now Chairman of Marshall & Ilsley Corporation, said of 

his mentor: “Jerry Leer expected excellence from his students and did everything in his power 

to help them achieve it.” 

Since his retirement in 1983, Professor Leer has continued to demonstrate extra ordinary support 

of the School and the accounting program. He has been instrumental in establishing and 

promoting the Leer Accounting & Taxation Excel lence Fund, as well as the Leer/Tellier 

Scholarship Fund, which has granted over $300,000 in scholarship awards in its 23 year history. 

Jerry Leer 

SPRING 2007 19

Retirement 

Accounting Professor Bill Taylor Retires 

If you were ever in Bill Taylor’s 

accounting or auditing class, you 

probably know what it’s like to be 

put on the spot. It might have been 

momentarily uncomfortable. But, in the 

end, you would probably say that you 

were challenged. 

“Bill Taylor has high expectations of his 

students,” said Dean V. Kanti Prasad. 

“And those expectations have earned him 

the respect of thousands of UWM alumni 

and Wisconsin CPAs.” 

Dr. Taylor — or simply Taylor, as he 

prefers — retired in December after 32 

years of service to the school. 

20 OUTLOOK 

Bill Taylor 

Michael Irwin (BBA-Accounting ‘92), 

Chief Operating Offi cer of Webroot 

Software Inc. in Boulder, Colorado, 

describes the fi rst few weeks of Taylor’s 

courses as “shock and awe” for students. 

“But then it evolved into a highly engaged 

dialogue between a professor and his 

students, from which we all walked away 

better,” Irwin said. 

“When you have a professor like Bill 

Taylor, he expects you to go into a 

question deeply, to explain yourself, to 

defend yourself, just as you would with a 

client or in presenting expert witness 

testimony,” said Eve Romersi (MS-Tax 

’98), a Partner with Scribner Cohen & 

Co. “That preparation is crucial. If you 

can’t do that, you won’t be successful in 

accounting.” 

The recipient of the Business Advisory 

Council Teaching Award and the 

university-wide AMOCO Outstanding 

Professor Award, Bill Taylor is the coauthor 

(currently with Professors Paul 

Fischer and Rita Cheng) of all nine 

editions of Advanced Accounting, the 

leading advanced text in accounting since 

it was fi rst published in 1978. He was also 

the president of the CPA Review of 

Wisconsin, which prepared thousands of 

students for the CPA exam. 

Past President of the Wisconsin Institute 

of CPAs, Taylor has served the community 

as chairman of the board or director of 

numerous nonprofi t organizations, 

including The Riveredge Nature Center, 

The Ozaukee Washington Land Trust, and 

The Cedarburg Landmark Preservation 

Society. 

“Every semester, I’ve met 75 to 100 

people, many of whom I continue to hear 

from or have developed relationships 

with,” Taylor told an alumni gathering in 

November. “It’s been a tremendous 

amount of fun and I’ll miss it.” 

We’ll miss you, too, Taylor!

CPA-in-Residence Program 

CPA-in-Residence Program Established 

Executive to Serve as Career Advisor 

for Accounting Profession 

College students preparing for a 

professional career in accounting 

face a host of important decisions 

that will have a signifi cant impact on their 

future careers. These critical decisions are 

driven by a number of factors, including 

the 150 credit requirement to sit for the 

CPA exam, the growing importance of 

internships, and increased professional 

opportunities for accounting graduates. 

In response to these developments, the 

Sheldon B. Lubar School of Business at 

the University of Wisconsin–Milwaukee 

has established a new program that helps 

accounting students connect current 

decisions to their future careers. 

The Lubar School’s CPA-in-Residence 

Program pairs a seasoned accounting 

executive with undergraduate and 

graduate accounting students at critical 

junctures in their accounting studies. 

“We want our students to maximize their 

potential in the accounting fi eld,” said 

Professor Paul Fischer, chairman of the 

accounting area, “This program is key to 

ensuring that they become highly qualifi ed 

CPAs who can contribute to Wisconsin 

business.” 

By providing one-on-one career mentoring 

at key decision points, Fischer said, the 

CPA-in-Residence Program strives to 

achieve a unique balance between a 

major university’s academic power and 

individual student professional planning. 

The primary mission of the program is to 

guide qualifi ed undergraduate accounting 

students into the MS in Professional 

Accounting Program, and then through to 

the timely completion of the CPA exam. 

Based on each students’ goals, preferences, 

and strengths, the CPA-in-Residence is 

able to share individualized information 

about the various career options in 

accounting, as well as where their choices 

might lead them 10 or 15 years after 

graduating. The program also sponsors 

workshops for students on a variety of 

topics related to the accounting profession. 

Ellis Jordan, a retired partner at Deloitte 

with over 32 years of experience in 

professional accounting — and 1970 

graduate of UWM’s accounting program 

— is serving as the Lubar School’s fi rst 

CPA-in-Residence. 

“The process to become a CPA has become 

more complicated and time-consuming,” 

said Ellis. “I’m delighted to provide a 

context for our next generation of 

accounting professionals that will help 

steer them in their career decisions and 

their progression to becoming a CPA.” 

CPA-in-Residence Ellis Jordan 

SPRING 2007 21

Society of Human Resources Management 

Lubar School’s SHRM Chapter Recognized 

The Lubar School’s student chapter 

of the Society of Human Resource 

Management (SHRM) has won 

recognition from the world-wide 

association for a fourth consecutive year. 

Under the leadership of faculty advisor 

Romila Singh, an Assistant Professor in 

Organizations and Strategic Management, 

the UWM SHRM chapter has received 

either a Merit Award or a Superior Merit 

Award in each of the last four years. 

These awards recognize student chapters 

for demonstrated excellence in operations, 

the professional development of chapter 

members, promotion of the profession, 

and support of SHRM. 

The Society of Human Resource management 

(SHRM) is the world’s largest 

association devoted to human resource 

management. Its student chapters help to 

advance the human resources profession 

by providing experiential opportunities 

that allow students to enhance, apply, and 

complement what they learn in their 

university classes. 

(left to right) Andrew Metz, Amy DeBroux, Dr. Romila Singh, Joanne Sipin, and Leanne 

Davis pose with their 2005-06 Superior Merit Award. 

The student offi cers that led the chapter 

to its Superior Merit Award in 2005-06 

include Amy DeBroux (BBA ’06, Employment 

Specialist, Landmark Staffi ng 

Resources, Inc.); Ray Harrell (MHRLR 

’06, Benefi ts Support Intern, Harley 

Davidson Motor Company); Joanne Sipin 

(MHRLR ’06, Compensation Associate, 

Clifton Gunderson, LLP); Leanne Davis 

Scholarship Awards for 2006-07 

The Sheldon B. Lubar 

School of Business 

congratulates the following 

scholarship recipients for 

their talent and hard work! 

BDO SEIDMAN 

ACCOUNTING 

SCHOLARSHIPS 

Cory Bultinck, $2,000 

Daniel Neumann, $2,000 

BRICKMAN BUSINESS 

SCHOLARSHIP 

Chelsey McCluskey, $2,500 

22 OUTLOOK 

BRUNSWICK/REICHERT 

SCHOLARSHIP 

Cory Bultinck, 

Semester Tuition 

ALOIS BULAWA 

SCHOLARSHIP 

Michael Ortiz, $7,500 

BUSINESS SCHOLARS 

SCHOLARSHIPS 

Stanislave Krakovyak, $2,500 

Stacy Gutsmiedl, $2,500 

CHANCELLOR’S 

FELLOWSHIPS 

Lila Ali, $4,000 

Jill Cotey, $4,000 

James Hampel, $4,000 

Terese Ingelli, $4,000 

Travis Lohse, $4,000 

Alexander Marek, $4,000 

Michael Mattter, $4,000 

William McCarthy, $4,000 

Natalie McGowan, $4,000 

Elina Spule, $4,000 

Michael Teeters, $4,000 

Anand Vangipurum, $4,000 

Jai Verma, $2,000 

Sara Woosencraft, $4,000 

DELOITTE 

MS-ACCOUNTING 

SCHOLARSHIP 

Johnnie Bannier, Jr., $3,000 

(BBA ’08); Andrew Metz (BBA ’07); and 

Sara Vandenhoven (BBA ’07). 

“These meritorious students serve as 

models of excellence, not only to other 

SHRM student chapters, but to all of the 

Lubar School’s professional student 

organizations,” said Dr. Singh. 

RAMZI DOANY MEMORIAL 

SCHOLARSHIP 

Olena Meersman, $500 

MARK AND TERRY DOLL 

SCHOLARSHIP 

Jenna Schneider, $5,000 

EMBA ALUMNI 

UNDERGRADUATE 

SCHOLARSHIP 

Kyle Balcerzak, 

Semester Tuition 

(continued on next page)

Scholarships 

WILBUR AND ARDIE 

HALYARD SCHOLARSHIP 

Tiffany Thornton, $2,500 

JOHN C. AND HILDEGARD 

A. HEEGEMAN 

SCHOLARSHIP 

Cordero Espinoza, $1,000 

Ryan Saunders $1,000 

Abhijit Singh, $1,000 

KEVIN HOULIHAN 

MEMORIAL SCHOLARSHIP 

Jessica Wittemore, $1,300 

KURT KLUMB MEMORIAL 

SCHOLARSHIP 

Alexander Sansone, $1,000 

RON AND MARJORIE 

KRIZEK ACCOUNTING 

SCHOLARSHIP 

Stephen Baas, $2,500 

RON AND MARJORIE 

KRIZEK FINANCE 

SCHOLARSHIP 

Jakub Szpytma, $2,500 

DENNIS AND SANDY 

KUESTER SCHOLARSHIPS 

Paris Gartman, $10,500 

Roderick Hammond, Jr., 

$10,500 

JERRY LEER ADVANCED 

ACCOUNTING 

SCHOLARSHIPS 

Laura Hettwer, $2,000 

Marc Ramminger, $3,000 

JERRY LEER/IN MEMORY 

OF ROY TELLIER 

ACCOUNTING 

SCHOLARSHIPS 

Samantha Anderegg, $8,000 

Michael Fohr, $8,000 

Rachelle Guell, $8,000 

Collette Ladell, $8,000 

Laura Ring, $8,000 

Karl Winderl, $3,000 

Allison Buchholtz, $3,500 

LUBAR SCHOLARSHIPS 

Brooke Brancel, $10,000 

Allison Buchholtz, $6,000 

Ashley Capaul, $4,200 

Mohamed Elsayed, $4,200 

Jon Ferch, $4,200 

John Francetic, $4,200 

Andrew Hartinger, $7,000 

Lindsay Hierz, $4,200 

Ling Hu, $4,200 

Erika Hughes, $6,000 

Morgan Jones, $6,000 

Jennifer Kamke, $6,000 

Danielle Koenig, $7,000 

Nicholas Krzynski, $6,000 

Vanessa LaCoste, $7,000 

Jonathon Lampe, $6,000 

Hope Lealou, $7,000 

William Meier, $10,000 

Rachael Moebius, $3,000 

Steven Mussatti, $7,000 

Charles Nordholm, $7,000 

Nicole Phelan, $4,200 

Adam Podd , $7,000 

Nicole Rosen, $7,000 

Lauren Serfozo, $6,000 

Karem Tariq, $7,000 

Misha Tubic, $7,000 

Kathryn Voitek, $4,200 

Dustin Wales, $10,000 

Logan Wehking, $4,200 

Patrick Welch, $4,200 

SHELDON AND MARIANNE 

LUBAR MULTICULTURAL 

SCHOLARSHIP 

Kawauna Holloway, $1,100 

PAT AND JERRY MORIARITY 

SCHOLARSHIPS 

Raina Shah, $2,500 

Nina Hongm, $2,500 

PRICEWATERHOUSE- 

COOPERS MS-ACCOUNTING 

SCHOLARSHIP 

Matthew Pirkle, $3,000 

MS-TAXATION 

SCHOLARSHIPS 

Shu-Ching Chang, $4,000 

Mary Giuffre, $4,000 

Cathy Xiong, $4,000 

THOMAS PERZ 

ACCOUNTING 

SCHOLARSHIP 

Daniel Neumann, $2,500 

POLACHECK COMPANY 

REAL ESTATE 

SCHOLARSHIP 

Maria Plascencia, $1,250 

Jakub Szpyntma, $1,250 

KIRK PETSHEK MEMORIAL 

SCHOLARSHIP 

Michael Hoch, $1,000 

RATH FOUNDATION MERIT 

SCHOLARSHIPS 

Courtney Bonk, $7,000 

Holly Coehoorn, $7,000 

Sara Flom, $7,000 

Phil Masiakowski, $7,000 

Scott Schnuckel, $7,000 

Gina Storey, $7,000 

JACK F. REICHERT 

BUSINESS SCHOLARSHIPS 

Erik Beardsley, $5,000 

Abby Karnthaler, $5,000 

Ryan DeStefano, $5,000 

Richard Daugherty, $5,000 

Michael Churchill, $5,000 

ROCKWELL AUTOMATION 

ACCESS TO SUCCESS 

SCHOLARSHIP 

Kari Jo Prigge, Full Tuition 

Kim Rhodee, Full Tuition 

Leslie Tennie, Full Tuition 

SAFEWAY SLING 

SCHOLARSHIP 

Laura Manoni, $2,000 

SCRIBNER-COHEN 

SCHOLARSHIP 

Laura Hettwer, $1,000 

SIGMA-ALDRICH 

CORPORATION, INC. 

SCHOLARSHIPS 

Olryike Ayanwale, $2,500 

Chunling Shi, $2,500 

US BANK SCHOLARSHIPS 

G Thao, $5,000 

Andrew Tye, $5,000 

WIGCHERS FAMILY REAL 

ESTATE SCHOLARSHIP 

Ryan DeStefano, $2,000 

ZIEGLER COMPANIES, INC. 

SCHOLARSHIP 

Theodor Butler, $10,000 

Leer/Tellier Scholarship recipients are fl anked by (left) Dean V. Kanti Prasad and Emeritus Professor 

Jerry Leer, and (right) Chancellor Carlos Santiago and Peter Tellier. 

SPRING 2007 23

Alumni News 

Alumni on the Move 

Robert Devita (BBA ’71, MBA ’73) 

has taken on a new position as Senior 

Vice President and Chief Operating 

Offi cer at Wheaton Franciscan Healthcare. 

He has previously employed with Ministry 

Health Care. Wheaton Franciscan is a 

not-for-profi t organization and one of the 

largest integrated regional health care 

delivery systems in Wisconsin. 

Norbert Kurth (BBA-Accounting 

’77) was hired at MJ Care, Inc. as 

Corporate Controller. MJ Care, Inc. is a 

Milwaukee-based professional healthcare 

services company providing physical 

therapy, occupational therapy, and 

speech-language pathology since 1977. 

Bruce Kolb (BBA-Management ’78) 

has taken on a new position as Chief 

Financial Offi cer and Chief Operating 

Offi cer with MasterLink, CableMaster, 

and Suiters Disctinctive Clothiers, based 

in Menomonee Falls. Bruce has 20 years 

of business experience. 

…1956…1957…1958…1959…1960…1961…1962…1963…1964…1965 

A Note to our pre-1966 Alumni! 

While we celebrate the 40th anniversary of our establishment 

as a business school this year, UWM has an even 

longer history of business education — and a wonderful 

group of alumni to prove it! 

After publishing the “retrospective” of our past 40 years in the 

last issue of Outlook, we heard from a few pre-1966 alumni who 

wanted us to know how proud they are of the business education 

they received at UWM and the contributions they have made to 

Milwaukee and Wisconsin. 

“Congratulations on turning 40 — but I consider you much 

older!” said one 1960 alum. 

24 OUTLOOK 

Gregory Gorlinski (BBA-Finance 

’87) was promoted to Managing Director 

at Cleary Gull Inc. in Milwaukee. Cleary 

Gull is an independent fi rm offering 

investment advisory and investment 

banking services. 

David W. Sladsky (MBA ’87) recently 

joined HellermanTyton Inc. as Director of 

Finance for North America. Hellermann- 

Tyton is a global manufacturer of 

network cabling, cable management, and 

identifi cation solutions that has its North 

American headquarters in Milwaukee. 

Christopher Zuzick (BBA- 

Marketing ‘89) was hired as Managing 

Director at Cornerstone Business 

Services. He is a member of the Alliance 

of Merger and Acquisition Advisors. 

William Kadrich (BBA-Finance ‘89) 

joined Marine Bank as Senior Vice 

President and Commercial Lender for 

the bank’s Wauwatosa offi ce. He has 

more than 10 years of experience in 

commercial lending. 

Cheryl Kruschke (BBA-Industrial 

Relations ’90), Manager of Education and 

Quality Assurance at Wheat Franciscan 

Healthcare, Marian Franciscan Center, 

has earned her PhD in Education from 

Cardinal Stritch University (December 

2006). Her dissertation topic was “Does 

the Eden Alternative Improve Resident 

Outcomes in a Long Term Care Setting?” 

Terri Behling (MS-Taxation ’94) has 

been promoted to Senior Manager at 

Deloitte & Touche USA L.L.P. in the 

Milwaukee offi ce. 

Michael Psuik (BBA-Accounting ’96) 

was promoted to Principal in the Tax 

Department at Vrakas/Blum S.C. 

Michael has been with the fi rm, which 

offers business consulting and 

compliance services, since 1997. 

Gina Bontempo (BBA-Finance ’97) 

was promoted to Assistant Vice President 

of Underwriting at Maritime Savings 

Bank in West Allis. 

Donald W. Krueger (BBA-Accounting ’65) wrote to share another 

perspective on the campus environment in the late 60s: “I want 

to remind you that thousands of students participated in ROTC 

during those years, remember the Cuban Missile Crisis, the Berlin 

Wall, and the Cold War. Hundreds received commissions as 

Army offi cers and served their country during those turbulent 

times… Your paragraph simply didn’t go far enough in painting 

a picture of that time in UWM’s history.” 

Thank you for your comments and for sharing your pride in your 

alma mater!

Alumni News 

Michelle Adam (BBA-Accounting 

‘00) has taken a new position as Senior 

Accountant at Kolb+Co in Brookfi eld. 

Eric Oechsner (MBA’00) was 

promoted to Manager at Schenck 

Business Solutions in West Allis. Eric 

joined the company two years ago. 

Kristin Baldini (MS-International 

Business ’01), has been named Senior 

Global Treasury Analyst at Rockwell 

Automation’s Milwaukee headquarters. 

Lynn Hoffman (BBA-Marketing ’02) 

was hired by BVK as a Traffi c Specialist. 

✁ 

Alumni, we want to hear from you! 

Send us your news by fax, mail or e-mail. 

Name: 

Degree: Year: Major: 

Home Address: 

City, State, Zip: 

Employer: 

Job Title: 

Business Address: 

City, State, Zip: 

Business Phone: Business Email: 

New job, honor, or other news? Please let us know! 

Ramon Robinson (BBA-Accounting 

’02) has taken a new position as an 

Independent Consultant at Williams CPA 

L.L.C. The fi rm provides auditing, tax, 

bookkeeping, business and management 

consulting services. 

Hermann Ndofor (PhD-Management, 

’04) has accepted a position as Assistant 

Professor of Management at the Mays 

Business School, Texas A&M University, 

College Station. 

Chad Kenny (BBA-Marketing ’04) was 

hired by the Milwaukee Mile as a 

Marketing Manager. 

Nicole Fuerst (BBA-Finance ’04) has 

taken a new position as Assistant Vice 

President and Portfolio Manager of 

Commercial Lending at Ridgestone Bank 

in Brookfi eld. 

Stacey Hamilton (BBA-Accounting 

’04) was promoted to Senior Accountant 

at Komisar Brady & Co. L.L.P. She joined 

Komisar Brady in 2004. 

Teri Huff (BBA-Accounting ’05) has 

joined the fi rm Komisar Brady & Co. 

L.L.P. as a Staff Accountant. 

Please return to: Outlook, Attn: Kris Piwek, Sheldon B. Lubar School of Business, University of Wisconsin–Milwaukee, P.O. Box 742, Milwaukee, WI 

53201-0742, fax: (414) 229-5999, email: outlook@uwm.edu 

SPRING 2007 25

Honor Roll of Donors 

From the Development Offi ce 

As the spring nears, the snow has melted and fl owers are 

starting to bloom. The semester is ending and students 

are enrolling in courses for next year. Internships are 

in their fi nal weeks and students are seeking their summer 

employment. And with just $10 million more to raise, we are 

nearing completion of the University’s most ambitious 

fundraising effort — the $100 million Campaign for UWM. 

It is now, during the 40th anniversary year of the Sheldon B. 

Lubar School of Business, that your support can really make a 

difference in setting the stage for the future. The gifts and 

pledges provided by our alumni, friends, and the business 

community are transforming UWM’s potential by providing the 

essential support to enhance the University’s research enterprise, 

while also enhancing our ability to offer education of the highest 

quality to promising students of all backgrounds and means. 

Whether your gift is large or small, your contribution shows your 

dedication and commitment to a quality business education. 

With your help, we will continue providing excellence in 


education as a metropolitan business school of national distinction, 

recognized for high quality teaching and research. 

There are many options available for fi nancial support to the 

Lubar School, including both long- and short-term alternatives. 

For an immediate benefi t to the School, you may make an 

outright gift of cash or appreciated securities to the Enhancing 

Academic Excellence Fund. For the long-term, you might consider 

deferring a gift through a bequest in your will or creating a trust 

or gift annuity. 

To make a gift to the Sheldon B. Lubar School of Business, please 

make your checks payable to the UWM Foundation. You may 

send them to UWM Offi ce of Development, 3271 N. Lake Drive, 

Milwaukee, WI 53211, Attention: Eric Anderson. Or you may 

make a gift online by going to www.development.uwm.edu and 

clicking on the link “Give to UWM.” 

Thank you for your support and commitment to the Sheldon B. 

Lubar School of Business! 

UWM’s Sheldon B. Lubar School of Business is grateful to the following alumni, friends, corporations, and foundations 

for their generous gifts and payments received by the UWM Foundation from July 1, 2006 through December 31, 2006. 

ACCOUNTING 

PROGRAMS AND 

SCHOLARSHIPS 

Mr. Corey A. Alman 

Mrs. Samantha Anderegg 

Ms. Barbara J. Anderson 

Mr. John M. Anderson, C.P.A. 

Mrs. Linda A. Anderson 

Mrs. Mary LaPorte Becker and 

Mr. Robert J. Becker 

Mr. Michael M. Berzowski 

Mr. Stephen F. Borkowski 

Mr. Steven J. Brandhagen 

Mr. Christopher J. Brisch 

Mr. Michael A. Broihahn 

Mr. and Mrs. Gregory G. Butler 

Mr. Efrem Capetillo, Jr. 

Mr. Tindaro Caputo 

Mr. Norbert A. Carollo 

Mr. Bruce T. Champion 

Mr. and Mrs. Stephen E. Check 

Dr. Rita Hartung Cheng 

Coca-Cola Company Matching 

Gift Program 

Mr. Earl R. Delaet 

Deloitte Foundation 

Ms. Barbara J. Demmer 

26 OUTLOOK 

Mr. Daniel S. Depies 

Ms. Joan M. Dunne 

Mr. James W. Duquaine 

Mr. Gordon R. Eisendrath 

Ernst & Young Foundation 

Mr. Bertren D. Figi 

Dr. Paul M. Fischer 

Ms. Michele D. Fritz 

Mrs. Diane K. Galarneau 

Mr. Timothy A. Gensler 

Ms. Cynthia J. Glazewski 

Mr. and Mrs. Gerardo H. Gonzalez 

Mr. John V. Goodger 

Ms. Jeanne M. Gramza 

Mr. William A. Grantz 

Mr. Martin J. Gregorcich and 

Ms. Maureen J. Mueller 

Mr. James C. Gutknecht 

Mr. Karl David Gyorfy 

Mr. Kevin M. Hablewitz 

Mr. David J. Hamernik 

Harley-Davidson Motor Company 

Mr. Brett A. Heath 

Mrs. Susan R. Heaton 

Mr. Greg S. Heberer 

Ms. Patricia A. Hintz 

Ms. Katherine A. Hoeller 

Mr. Conrad F. Holling 

Mr. Michael P. Ignatowski 

Mr. David J. Jablonowski 

Mr. Jeffrey S. Johns 

Mr. Ellis D. Jordan 

Mr. Richard J. Jorgensen 

Mr. V. Stewart Jose 

Ms. Mary Ellen Jucha 

Ms. Ruth A. Kallio-Mielke and 

Mr. Steven Mielke 

Mr. Brian R. Kaminski 

Dr. Paul D. Kimmel 

Mrs. Kelly L Kirtley 

Mr. Todd J. Koeppel 

Mr. and Mrs. Vincent Kolber 

Ms. Cynthia A. Kopperud and 

Mr. Thomas J. Watson 

Mr. Gregory A. Kost 

Ms. Peggy Jane Kovatovich 

Mr. Kenneth W. Krueger 

Mr. Daniel S. Lange 

Mrs. Mary LaPorte Becker and 

Mr. Robert J. Becker 

Mr. Victor Ledesma 

Mr. Jerry A. Leer 

Ms. Carol A. Leetz 

Mr. Frederick L. Licau 

Mrs. Cynthia M. Lilley 

Ms. Karen P. Loth 

Mr. John P. Lundsten 

Lynde and Harry Bradley 

Foundation, Inc. 

Mr. Jeffrey L. Majinski 

John W. March Trust 

Mr. David B. McChain 

Mr. Peter McKane 

Mr. Scott E. Metzinger 

Mr. Steven J. Moglowsky 

Mr. Brendan P. Moran 

Mr. and Mrs. Gerald J. Moriarity 

Mr. Arnold Mullen 

Mr. Edward E. Nachtsheim 

Mr. Randy S. Nelson 

Mr. Thomas J. Nissen 

Mr. Alan H. Noennig 

Norstrem & Associates 

Mr. Timothy A. Norstrem 

Northwestern Mutual Foundation 

Ms. Mary O’Halloran 

Mr. James P. Orth 

Mr. John A. Ottenberg 

Mr. Erik S. Owen 

Ms. Lily Pao 

Fr. Michael Theodore Parks, Ktj 

Mr. Kenneth and Mrs. Sharon 

Poniewaz 

Mr. Charles R. Preston


PricewaterhouseCoopers LLP 

Mr. Michael I. Quist 

Mr. Michael P. Reidy 

Mr. Christopher G. Riegg 

Robert W. Baird & Co. Foundation, 

Inc. 

Rockwell Collins Matching Gift 

Program 

Mr. John N. Rohatsch 

Mrs. Marianne R. Roider 

Mr. and Ms. Timothy G. Roloff 

Mr. and Ms. James D. Romnek 

Ms. Cynthia A. Rooks 

Mr. Robert J. Ruttgers 

Ms. Susan A. Schmidt 

Mrs. Jeanine D. Schoen 

Mr. Kenneth T. Schroeder 

Mr. Mark P. Schueller 

Mr. John E. Schuett 

Mr. Ronald M. Schulkin 

Mr. Thomas L. Schwalbach 

Ms. Danielle K. Shira 

Ms. Julie A. Simuncak 

Sitzberger, Widmann & 

Company, S.C. 

Mr. Gregory L. Skaar 

Mrs. Mary M. Smith 

Mrs. Pamela J. Spenner 

Mr. Kurt J. Stachnik 

Mr. Jeffrey A. Stormoen 

Mr. and Mrs. Todd R. Strehlow 

Mr. James W. Stuart 

Mr. Todd D. Stucky 

Mr. David K. Thiel 

Mr. Rudolf Thinschmidt 

Mr. Scott B. Tracy 

Mr. Matthew L. Urmanski 

Vanguard Charitable Endowment 

Program 

Mrs. Karen L. Walrath 

Ms. Sherry L. Ward 

Mr. Walter L. Weber 

Mr. Gerald S. Weiler 

WEYCO Group, Inc. 

Mr. Kenneth H. Williams 

Mr. and Mrs. Mark R. Williams 

Mrs. Linda Pirk Wilson 

Mr. Jeffery M. Wiza 

Mr. William E. Woller 

Mr. Thomas J. Woppert 

Mr. James W. Wright 

Mr. John W. Zilavy 

CENTER FOR 

TECHNOLOGY 

INNOVATION/ 

MANAGEMENT 

INFORMATION 

SYSTEMS 

Dr. William Dave Haseman 

Johnsonville Foods 

Mr. Bruce R. Maas 

Trisept Solutions LLC 

ENTREPRENEUR 

INTERNSHIP 

PROGRAM 

Buyseasons, Inc. 

Fivetwelve Group, LTD. 

Heartland Information Research, Inc. 

Wisconsin Business Development 

EXECUTIVE MBA 

EXCELLENCE FUND 

American Transmission Company 

LLC 

Mr. David L. Armstrong 

Mr. Daniel P. Blask 

Ms. Norine C. Carlson-Weber 

Mr. Jose M. Delgado 

Mr. Eric A. Delzer 

Mr. and Mrs. Thomas E. Dyer 

Mr. James W. Ehrenstrom 

Ms. Julie C. Faulhaber 

Dr. and Mrs. Arlyn C. Fredrick 

Mr. James R. Jacobson 

Mr. Allan J. Klotsche, Jr. 

Mr. and Mrs. Richard K. Riederer 

Mr. Michael J. Rupp 

Mrs. Marilyn Fox Rutherford 

Mr. Conrad L. Sobczak 

Mr. and Mrs. Robert E. Tenges 

Wellpoint Foundation 

Mr. Joseph P. Wenzler 

J.P. & Ann Wenzler Family 

Foundation 

Wisconsin Energy Corporation 


HELEN BADER 

INSTITUTE FOR 

NONPROFIT 

MANAGEMENT 

Greater Milwaukee Foundation, Inc. 

Helen Bader Foundation, Inc. 

Mr. Andrew C. Holman 

Mr. William L. Randall 

Reilly Penner & Benton LLP 

Mr. Stephen and Mrs. Nancy Einhorn 

Dr. John Palmer Smith 

INTERNATIONAL 

BUSINESS 

EDUCATION 

A.O. Smith Foundation, Inc. 

Brady Corporation Foundation 

PROFESSORSHIPS 

Mr. & Mrs. Sheldon B. Lubar 

Hans G. Storr Family Foundation 

Mr. Hans G. and Ms. Carol F. Storr 

SCHOLARSHIPS 

Assurant Health Foundation 

Hasbro Children’s Fund, Inc. 

BDO Seidman, LLP 

Brady Corporation Foundation 

Mr. and Mrs. Mark E. Brickman 

Dr. Clarence P. Chou 

Mrs. Clarice H. Chou 

Christian Stewardship Foundation 

Mr. Mark Clark 

Mr. and Mrs. Mark G. Doll 

Mr. Michael J. Fenlon 

Fidelity Charitable Gift Fund 


Dr. C. George Hsi 

Charles D. Jacobus Family 

Foundation Inc. 

John T. and Suzanne S. Jacobus 

Family Foundation, Inc. 

Richard G. Jacobus Family 


Jewish Community Foundation of 

the Milwaukee Jewish Federation 

Mr. James K. Kasum 

Mr. William C. Kostner 

Mr. and Mrs. Ronald V. Krizek 

Mr. and Mrs. Dennis J. Kuester 

Mr. and Mrs. David G. McKendry 


Dr. V. Kanti Prasad 

Rath Foundation, Inc. 

Robert W. Baird & Co. Foundation, 

Inc. 

Rockwell International Corporation 

Trust 

Safeway Sling USA, Inc. 

Mr. and Mrs. Douglas J. Schwinn 

Sigma-Aldrich Foundation 

Souder Family Foundation 

Ms. Judith M. Titera 

Mr. and Mrs. Arthur W. Wigchers 

Mr. and Ms. William A. Wigchers 

Wisconsin Prima 

The Ziegler Companies, Inc. 

UNRESTRICTED 

Mr. Robert J. Abramowski 

Mr. Thomas P. Ackerman 

Dr. Moses Acquaah 

Mr. Terrance E. Adams 

Adept Leathers & Footwear 

Accessories, Inc. 

Mr. Jeffrey P. Adix 

Mr. Mark S. Ambrosius 

Ameriprise Financial Employee Gift 

Matching Program 

Mrs. Melodi M. Andersen 

A.O. Smith Foundation, Inc. 

Argo Translation Inc. 

Mr. Pietro G. Argondizzo 

Mr. Robert H. Armstrong 

Associated Bank 

Assurant Health Foundation 

AT&T Foundation 

Attmore Group, LLC 

Mrs. Marcia D. Attmore 

Ms. Jenny L. Badreddine 

Mr. Steven J. Bain 

Mr. Eric T. Baker 

Mr. Michael Balcerowski 

Ms. Barbara J. Bambic 

Mr. Thomas S. Barina 

Mr. Mark A. Barnes 

Mr. David A. Barras 

Mrs. Debra J. Bartolone 

Mr. Stephen S. Becker 

Mr. Jerald H. Beine 

Mr. Richard C. Bemis 

Mr. Gregory G. Berg 

Mrs. Michele C. Berg 

Ms. Kristine K. Best 

Mr. Randolph P. Binner 

Ms. Jolene R. Birkelo 

Mr. Gregory C. Black 

Ms. Christine K. Blase 

Mrs. Donna M. Blatecky 

Mr. Marc J. Blazich 

Mr. Kenneth R. Bloss, Jr. 

Mr. John P. Bowen 

Ms. Jacqueline Moore Bowles 

Brady Corporation 

Mr. Michael J. Brechtl 

Briggs & Stratton Corporation 

Mr. Charles E. Broihier 

Mr. Robert L. Brooks 

Mr. Richard R. Brown 

Mr. Kenneth R. Bruckbauer 

Mr. Robert J. Bruemmer 

Mr. Todd A. Brzycki 

Mr. Alan E. Buechel 

Mr. Ralph J. Bureta, Jr. 

Mr. Noel L. Butzke 

Ms. Claire A. Caldini 

Ms. Patricia A. Campau 

Mr. Glenn T. Campbell 

Mr. Joseph Caputo 

Mr. Patrick B. Carey 

Mr. Scott D. Carter 

Mr. Steven G. Cartwright 

Chirch Global, LLC 

Mr. Brien Paul Christopherson 

Mr. Kevin D. Clement 

Mr. Martin J. Coello 

Mr. Thomas J. Colla, Jr. 

Mr. Michael David Colton 

Mr. Bruce D. Comdohr 

Ms. Patricia M. Conole 

Mr. Michael R. Corbett 

Mrs. Kristin C. Coulthurst 

Mr. James F. Crawford 

Creative Marketing Resources 

Mr. Brad J. Crossman 

Mrs. Janaan C. Cunningham 

Mr. Matthew D. Curley 

Mr. Richard J. Czachor 

Mr. Thomas J. Czisny 

Mr. Gary M. Dahms 

Mr. George D. Dalton 


SPRING 2007 27



Mrs. Gina L. Daroszewski 

Mr. Mark D. Davis 

Mr. Jerry C. DeArmond, II 

Mr. James S. Dennik 

Ms. Rita H. Derleth 

Dr. Mark A. Desris 

Ms. Elyce D. Dilworth 

Mr. and Ms. Charles P. Divine 

Mr. Paul J. Dix 

Ms. Kathleen M. Dooley 

Mr. Mark S. Donlon 

Mrs. Mary C. Dorn 

Mr. and Mrs. Daniel C. Dougherty 

Mr. Daniel A. Drea 

Mr. Adam J. Dreier 

Mr. Brian R. Drescher 

Mrs. Brenda K. Dretske-Naggs and 

Mr. Bret Saba Naggs 

Mr. David S. Dries 

Ms. Christine M. Drillsam 

Mr. Karl F. Dudey 

Mr. Jeffrey A. Dudzik 

Mr. Bruce J. Dumann 

Mr. Kirk L. Dunlap 

Mrs. Amy B. Dzwinel 

Mr. James M. Ebben 

Mr. Eric R. Eberhardy 

Mr. Daniel J. Eggers 

Mr. John J. Ehren 

Mr. Mark A. Eisendrath 

Mr. John C. Elliott 

Mr. Robert W. Ellis 

Ernst & Young Foundation 

Ms. Debra E. Fahey 

Mr. John M. Farkas 

Mr. Robert L. Feeley 

Mr. Paul N. Fehrenbach 

Mr. Leon J. Fiegel 

Mr. Gary M. Fitzgerald 

Mr. Roger L. Fitzsimonds 

Mr. Allen J. Fletcher 

Mr. Thomas M. Flowers 

Mr. and Mrs. James F. Flynn 

Mr. Donald Forecki 

Ms. Judith E. Forsea-Lynch and 

Mr. James G. Lynch 

Mrs. Laura J. Franza 

Mr. Alan T. Fraser 

Mr. Bruce J. Fraser 

Ms. Donna L. Fredricks 

Mrs. Beth E. Frieseke 

Mr. Jiro Fukuyama 

Mr. David A. Fularczyk 

Mr. Michael D. Fuss 

Ms. Susan L. Gain 

Mr. Chetan A. Gajria 

Mr. Mark J. Ganas 

Mr. John R. Gehlhaart 

Mr. Mark C. Gengler 

Mr. Thomas J. Gerger 

Mr. Todd R. Gerhardt 

Mr. Patrick D. Gerrits 

Mr. Dudley J. Godfrey, III 

Mr. Richard S. Godfrey 

Mr. Leonard J. Goldstein 

28 OUTLOOK 

Mr. and Mrs. Gerardo H. Gonzalez 

Mr. Robert M. Graham 

Mr. Robert C. Graveen 

Mr. and Mrs. Lyle W. Gray 


Mr. Robert D. Greenfi eld 

Mr. James R. Greenway 

Mr. Donald A. Gregory 

Mr. Earl V. Gruendeman 

Ms. Pamela A. Grzybowski 

Mr. David A. Gwidt 

Mr. Brian E. Hammes 

Mr. Brian L. Handeland 

Ms. Nancy K. Hanneman 

Mr. Bryan Ira Hansen 

Mr. Irv H. Hansen 

Mr. Michael F. Hansen 

Harley-Davidson Motor Company 

Mrs. Mary J. Harms 

Mr. Scott A. Hartwig 

Mr. Robert J. Hazod 

Mr. Patrick E. Heeley 

Mrs. Yvonne L. Heikkinen 

Mr. Russell J. Heinen 

Mr. John S. Heinzelman 

Mr. James E. Henderson 

Mr. Thomas P. Hennings 

Mr. Gerald A. Hermann 

Mr. Michael W. Hetzel 

Mr. Gary M. Hewitt 

Ms. Bernita K. Hile 

Hilker & Associates 

Mr. David Leroy Hilker 

Mr. Hanna N. Hinnawi 

Mr. Michael R. Hirsch 

Ms. Holly Hoffe 

Mr. Eric J. Hofmann 

Mr. and Mrs. Gary A. Hollman 

Mr. John G. Horky 

Mr. James J. Horvath 

Ms. Michelle H. Huber 

Mr. Bruce E. Hundertmark 

Illinois Tool Works Foundation 

Ms. Sharon A. Isaac 

Mr. Steven E. Ivalis 

Mr. George S. Jaloviar 

Mr. Theodore S. Jankowski 

Mrs. Denise Olson Jenich 

Mr. Shawn S. Jensen 

Mr. James E. Jeske 

Jewish Community Foundation of 

the Milwaukee Jewish Federation 

Ms. Angela M. Jodie 

Mr. Christopher J. John 

Mr. Richard E. Johnson 

Mr. and Mrs. William R. Johnson 

Johnson Controls Foundation 

Mr. Christopher E. Johnson 

Mr. Eugene Leonard Jones 

Mr. Nathan C. Jorgensen 

Mr. Stephen A. Jorjorian 

Mr. Michael J. Jungen 

Mr. Gregory J. Jurasovich 

Mr. Edward C. Kaminski 

Mr. John J. Kane 

Ms. Mari L. Kargard 

Ms. Janice A. Karr 

Mr. Garret R. Kastelic 

Mrs. Alice D. Kastello 

Mr. Jon C. Keckonen 

Mr. Patrick M. Keily 

Mr. Mark M. Kemp 

Mrs. Jeanne A. Kennedy 

Mr. Brian G. King 

Mr. Jerome D. King 

Ms. Patricia L. Kirgues 

Ms. Linda B. Kirmis 

Ms. Annamarie A. Kirsanoff 

Mr. Bruce A. Klainot 

Mr. Thomas P. Klammer 

Mr. Gale E. Klappa 

Mr. Phillip J. Kleiber 

Ms. Shirley B. Klenke 

Ms. Debra Ann Kloc 

Mr. Raymond A. Knutilla 

Mr. Raymond H. Knutson 

Mr. Stephen B. Koch 

Mrs. Peggy M. Kojima 

Mr. Dennis A. Kolowith 

Mr. and Mrs. Charles A. Konkol 

Mr. Steven G. Kornetzke 

Ms. Jo Anne Koshere 

Mr. Joseph R. Kraemer 

Mr. and Mrs. Thomas J. Kraker 

Mr. William L. Kraus 

Mr. Michael J. Krauski 

Mr. Carl K. Kreienkamp 

Mr. John W. Kroening 

Mr. Edward J. Krueger 

Mrs. Nancy C. Kryshak 

Mr. Jay H. Kurtzweil 

Mr. Joseph P. La Rosa 

Mr. William H. Lacy 

Ms. Marilyn L. Lagerman 

Mr. James A. Lamont 

Mrs. Charlicia Glover Lane 

Mr. William R. Lang 

Mrs. Laura A. Lanke 

Mr. Steven J. Latham 

Ms. Laura Mawhinney 

Ms. Joanne Lazirko 

Mrs. Beth A. Leffelman 

Dr. Robert H. Lehner II. 

Mr. Gregory F. Lehrkamp 

Ms. Marie T. Leithauser 

Mr. Mark N. Lemke 

Ms. Laureen M. Lenoir 

Mr. James T. Lenzke 

Ms. Angela J Leonard 

Dr. Ilene F. Levin 

Ms. Charlotte J. Liddicoat 

Ms. Cindy H. Lindquist 

Mrs. Emelie A. Linke 

Ms. Connie J. Lloyd 

Mr. Brad J. Lois 

Mrs. Joanne M. Looze 

Ms. Leslie L. Lorbiecki 

Ms. Denise I. Lovell 

Ms. Tracy E. Luber 

Ms. Michelle M. Lubinski 

Mr. Thomas J. Lubniewski 

Mr. Thomas A. Luedtke 

Mr. John D. Luellwitz 

Ms. Anna M. Luthens 

Mr. John J. Luy 

Lynde and Harry Bradley 


Mrs. Maria Magyar-Cartier 

Mr. Kevin J. Mahoney 

Mr. Joseph J. Mallinger 

Ms. Cynthia A. Mand 

Ms. Sheryl M. Manhoff 

Mr. Steven J. Marcus 

Ms. Julie A. Marineau 

Mr. Paul J. Marks 

Ms. Colleen C. Marquardt 

Mr. Michael T. Martin 

Mr. Thomas O. Martin 

Mr. Paul C. Mason 

Mr. Jonathan D. Mathews 

Mr. Greg W. Maurice 

Mr. Mark T. Maurice 

Mr. Gary G. May 

Mr. Ramon J. Mayer 

Ms. Amalie S. McClanahan 

Mr. Jeffrey W. McElroy 

Ms. Nancy J. McGuire 

Mrs. Carol A. McInerny 

Mr. Michael E. McMorrow, SC 

Mr. Robert D. McQuillan 

Mr. Richard Meeusen 

Mr. Alan R. Meier 

Mr. Michael Melloch 

Mr. Robert F. Melstrand 

Menasha Corporation Foundation 

Ms. Margaret A. Mentel 

Mr. Arthur R. Meyer 

Mr. James A. Meyer 

Ms. Joan A. Meyers 

Mr. James C. Michalski 

Ms. Ruth A. Kallio-Mielke and 

Mr. Steven Mielke 

Mr. Peter R. Milewski 

Mr. Howard C. Miller 

Mr. Michael E. Miller 

Mr. Charles O. Mills 

Ms. Mary C. Miske 

Mr. Robert W. Moczulewski 

Mrs. Lynn M. Moertl 

Dr. Mark A. Mone 

Mr. Alan W. Mooney 

Mr. Donald J. Moore 

Mortgage Guaranty Insurance 

Corporation 

Mr. Michael F. Moylan 

Mr. Peter F. Mozina 

Ms. Jean Bessert Mueller 

Ms. Sharee L. Mulhollon 

Mrs. Sheri L. Murphy 

Mrs. Brenda K. Dretske-Naggs and 

Mr. Bret Saba Naggs 

Ms. Erika L. Naumann 

Mr. Geoffrey R. Nauth 

Mr. Philip G. Neary 

Mr. Jack T. Nehmer, Jr.


Mr. Joseph M. Nellis 

Mr. and Ms. James C. Nelson 

Mr. Karl A. Neumann 

Mr. Thomas A. Nevins 

Mr. Mark J. Newgard 

Ms. Lynn S. Nicholas 

Nicholas Family Foundation 

Mr. Donald J. Nichols 

Ms. Laurie P. Nielsen 

Mrs. Judith R. Niesen 

Mr. William K. Niemeyer 

Ms. Elaine M. Nissen 

Norstrem & Associates 

Mr. Timothy A. Norstrem 


Mr. and Mrs. Keith D. Nosbusch 

Mr. Christopher J. Ohmes 

Mrs. Christine A. Olson 

Mr. Mark G. Olson 

Mr. Thomas E. Ordinans 

Dr. Carolyn and Mr. Rick Ottman 

Ms. Pamela K. Otto 

Ms. Janine A. Overeem 

Mr. William D. Owen 

Mr. William H. Padfi eld 

Mr. David L. Palay 

Mr. Jeffrey R. Paro 

Ms. Mary J. Paxton 

Mr. Cody F. Pearce 

Ms. Jill G. Pelisek 

Mr. James R. Pennow 

The Pentair Foundation 

PepsiCo Foundation 

Mr. Randolph M. Peters 

Ms. Kathryn R. Peters-Boand 

Ms. Dawn M. Peterson 

Mr. Gregory R. Peterson 

Ms. Mary A. Peterson 

Mrs. Suzanne M. Peterson 

Ms. Tanja Petrovic 

Mrs. Donna Jean Pfl ughoeft 

Phoenix Healthcare Associates 

Mrs. Mary B. Piehl 

Mr. Randall J. Pielsnik 

Mr. Lawrence J. Pierzchalski 

Mr. Steven J. Pietroske, MBA 

Mr. John B. Pike 

Mr. Jeff J. Pink 

Mrs. Maria L. Piotter 

Mr. Kenneth G. Place 

Mr. and Mrs. Neal S. Plotkin 

Mr. Gary D. Plouff 

Mr. Ronald G. Plue 

Mr. William A. Pohlmann 

Mr. Jeffrey R. Pokrzywinski 

Mr. Keith F. Ponath 

PricewaterhouseCoopers LLP 

Mr. Robert J. Punzenberger 

Mr. Kenneth L. Putzier 

R And D Knutson, Inc. 

Mr. Thomas E. Randerson 

Rao Family Foundation Inc. 

Mr. Michael E. Rawling 

Mr. Keith C. Redding 

Mr. James D. Redman 

Ms. Jean K. Reimer 

Mr. William S. Remiker 

Mr. Brian J. Remsza 

Rexnord Foundation, Inc. 

Ms. Lori R. Richards 

Ms. Eugena R. Ridanpaa 

Ms. Christine E. Rieck-Risser 

David L. Rieves 

Ms. Cheri W. Robinson 

Mr. Edward W. Roessl 

Mr. Frederick A. Rogers 

Mr. Kimball S. Roots 

Mr. James G. Rosenbaum 

Ms. Pamela J. Roskopf 

Mr. Al Rosman 

Mr. Jeffrey J. Roznowski 

Mr. Robert J. Ruemelin 

Ms. Melody A. Rutenbeck 

Dr. Georgia R Saemann 

Mr. Thomas E. Sakar 

Mr. Michael M. Sargent 

Ms. Valerie A. Sauve 

Mr. and Mrs. Paul F. Sawyer 

Dr. Eric and Mrs. Virginia Schenker 

Mr. David L. Schertz 

Mr. John R. Schingen 

Mrs. Mary Beth Schlecht 

Ms. Elaine B. Schmitt 

Mr. Keith R. Schmitz 

Mr. James R. Schneider 

Ms. Lori E. Schneider 

Mr. Thomas R. Schoewe 

Mr. Mark D. Schowalter 

Mr. John C. Schubert, CPA 

Dr. Gregory H. Schuchard 

Mr. Gerald R. Schultz 

Mr. John K. Schultz 

Mrs. Barbara A. Schumacher 

Ms. Carol L. Schwanz 

Mr. Ronald E. Searles 

Mr. David Lee Sebald 

Mr. Thomas E. Seidcheck 

Mr. Jeffrey A. Seonbuchner 

Mr. Zarir J. Sethna 

Ms. Therese A. Sgarlata-Lutz 

Mr. John R. Shefchik 

Mrs. Roberta Z. Shelton 

Mr. Michael R. Sherwin 

Ms. Kathleen A. Shields 

Mr. Phillip W. Shope 

Mrs. Terri A. Siegel 

Sigma-Aldrich Foundation 

Ms. Yvonne M. Siira 

Ms. Theresa E. Silbernagel 

Mr. Craig F. Smith 

Mrs. Judith P. Smith 

Mr. Steven T. Snodgrass 

Mr. John R. Somers 

Mr. Michael P. Sommers 

Mr. David E. Sonnentag 

Ms. Barbara L. Sotanski 

Ms. Jennifer Spader 

Mr. Kyle A. Spader 

Split Rail Foundation, Inc. 

Mrs. Nancy C. Spransy 

Ms. Jean M Stafford 

Mr. and Mrs. Matthew T. Stamborski 

Mr. Gary L. Stanczyk 

Ms. Ericka L. Stark 

Mr. David W. Staudt 

Mr. Leonard F. Stecklein 

Mr. Kenneth J. Stefancic 

Ms. Dana Stefanovic 

Mrs. Susan L. Steffen 

Mr. and Mrs. Gerald M. H. Stein 

Ms. Christine L. Stello 

Mr. John P. Stevens 

Mr. Alexander B. Stewart 

Mr. Donald J. Stoll 

Mrs. Mary Jo Stoll 

Mr. Kenneth L. Streit 

Ms. Betty J. Streng 

Mr. Scott M. Tamms 

Mrs. Marci C. Taxman 

Ms. Lynn M. Tess 

The Schmitz Company 

Mr. William G. Thelen 

Mr. Richard E. Thickens 

Mr. David K. Thiel 

Mr. Ronald G. Thimm 

Mr. Steven D. Tholl 

Mr. O. Albert Thompson 

Mr. Patrick T. Torres 

Dr. Elizabeth R. Towell 

Dr. John S. Traxler 

Mrs. Charlene A. Trimberger 

Mr. John C. Turcin 

Mr. Charles Lee Ulland 

U.S. Bancorp Foundation 

U. S. Bank Wisconsin 

Mrs. Mary I. Van Beck-Voelker 

Mrs. Linda D. Van Dyne 

Mr. Mark A. Van Engen 

Mrs. Angelika E. Van Scyoc 

Ms. Cristina L. Vasquez 

Mr. Marc J. Veras 

Mr. Allan W. Vetting 

Ms. Renee B. Vogt 

Mr. Kevin E. Volm 

Mr. Jeffrey C. Vredenbregt 

Mr. Alan C. Waal 

Mr. Richard D. Wachter 

Ms. Lisa M. Waite 

Mr. Scott A. Walters 

Mr. David H. Ward 

Washington Mutual Foundation 

Mr. William G. Weiler 

Mr. Abe Weinrauch 

Mr. and Mrs. James J. Weise 

Mr. William R. Weiss 

Ms. Sharon M. Weissenburger 

Ms. Kim M. Weitzer 

Wells Fargo Foundation 

Mr. Charles P. Wenthur 

Mr. Michael J. Wesner 

Mr. Lance J. Westen 

Mr. Neil C. Wester 

Mrs. Teresa L. Wetzel 

Mr. Robert J. Wheeler 

Ms. Debra Wicker 

Mrs. Elizabeth M. Wilke 

Mr. Jerry G. Wilke 

Mr. John D. Wilkie 

Mr. Brian G. Wilmot 

Mr. Randal J. Wilson 

Mr. Kurt Windbiel 

Mr. Clarke J. Winkler 

Mr. William L. Wirth 

Mr. Henry J. Wisneski 

Mr. Chester A. Wojciehowski 

Mr. James R. Wolter 

Mr. Paul E. Wysocki 

Mr. Charles B. Yerkes 

Mr. David E. Yewer 

Mr. Richard C. Zeinemann 

Mr. Thomas J. Zeise 

Dr. Huimin Zhao 

Mr. Roger P. Zientek 

Mr. Philip R. Zwieg 

We make every effort to ensure accuracy. If your name has 

been omitted, misspelled, or incorrectly listed, please accept 

our apologies and contact Kristine Piwek at (414) 229-6297 

or kpiwek@uwm.edu so that you can be properly recognized 

in the next issue. 

SPRING 2007 29

Let’s talk business. 

Patricio Iligaray, MS-Marketing student 

Marketing Consultant 

Business and Commercial Banking 

M&I Bank, Corporate Marketing 

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