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WHARTON
MAGAZINE
EDITION THREE | SUMMER 2010
‘Go Forth
and Do Great Things’
MOMENT OF TRUTH
What’s it take to
win at the Wharton
Business Plan
Competition?
Wharton’s newest graduates
get their degrees—and
prepare to change the
world economy for
the better.
THE FUTURE OF BOOKS
Experts and insiders
debate what comes
next for the
publishing industry.
A PLASTIC DISASTER
Doug Woodring, WG’95,
is working to clean
up a massive
oceanic trash heap.

Jeremy J. Siegel, Russell E. Palmer Professor
of Finance, giving a presentation about the future
of our economy to alumni at Reunion Weekend.
Gain a Competitive Edge
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School represents a customized and multi-faceted
alliance, offering its members powerful advantages
for exceptional visibility and dynamic exchanges of
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for Wharton
The Wharton School is pleased to announce
the new Campaign for Wharton website and the
2009 Annual Report to Investors, exclusively online:
WWW.THECAMPAIGNFORWHARTON.COM
Browse video snapshots and multimedia stories as our students, alumni,
faculty and friends illustrate Wharton’s impact on their lives and the world.

2 | WHARTON MAGAZINE | SUMMER 2010

PHOTO BY TOMMY LEONARDI
It is one of the most colorful events on the
Wharton calendar—the Wharton Charity Fashion
Show. Held in late April at the Crystal Tea Room
in Center City, this year’s event featured 22
student models showing off new designs from
such fashion stars as Calvin Klein, Nicole Miller,
Stewart + Brown and others. Th e studentorganized
show drew 600 guests and raised
$8,000 for charity.
SUMMER 2010 | WHARTON MAGAZINE | 3

Summer 2010
Contents
18
‘Let’s Start Writing
Our Stories’
Wharton celebrates its newest graduates at the
School’s 126th Commencement. By Kelly Andrews
20
Why Come Back?
Wharton’s MBA Reunion Weekend is bigger and better
than ever. So why should you come back for your
reunion? We give you fi ve good reasons. By Tim Hyland
26
Moment of Truth
What’s it take to compete in—and win—the Wharton
Business Plan Competition? We followed one of this
year’s teams to fi nd out.
By Saki Knafo

6 Editor’s Letter
Ever heard of Gustavus W. Smith?
Unless you’re a Civil War buff , you
probably haven’t. Because when
history came calling, Smith
backed down.
By Tim Hyland
7 Th e Inbox
Wharton alumni take us to task for those
“clunky typewriters” we wrote about back
in the spring.
8 Guest Commentary
India’s business leaders do things their
own way—the India Way.
By Peter Cappelli, Harbir Singh, Jitendra
Singh and Michael Useem
10 Debrief
A BATTLE IN THE PACIFIC: There’s a trash
heap the size of Texas fl oating in the
North Pacifi c. Doug Woodring, WG’95,
wants to clean it up.
By Mike Unger
THE FUTURE OF BOOKS: At the Wharton
School’s Future of Publishing Conference,
industry insiders debate what the
future holds for the publishing industry.
By Steven Kurutz
WHARTON FOLLY: The iPad as publishing
savior?
WHARTON Q&A: Wharton’s new
Associate Dean for External Aff airs,
Sam Lundquist, discusses why ‘participation’
matters. By Tim Hyland
FROM THE VAULT: Back in the old days,
Commencement was a downtown aff air.
A REAL-WORLD LOOK AT PRIVATE EQUITY:
Wharton’s new Advanced Seminar on
Private Equity brings the real world to the
classroom. By Kelly Andrews
WIMI TACKLES THE WORLD CUP: Wharton
partners with ESPN on a fi rst-of-its-kind
research initiative. By Tim Hyland
34 Knowledge@Wharton
PASSION VS PROFIT: MICROFINANCE’S
TALENT WARS: Microfi nance institutions
have performed incredibly well. But their
success has also created an unforeseen
problem.
Wharton Leaders
30 Denis Benchimol Minev, WG’03,
on his eff orts to preserve the Amazon
rainforest.
32 Thuy Dam, WG’96, on the past,
present and future of business in Vietnam.
38 Class Notes
ALUMNI NEWS: Who got married? Who has
kids? Who’s retired? Who started a new
job (or a new company)? Find out in your
always-popular Class Notes section.
ALUMNI ASSOCIATION UPDATE: Meet some
of Wharton’s new Class Engagement
Ambassadors and Class Development
Ambassadors. Pg. 41
80 Final Exam
TAKE OUR CHALLENGE: In real estate, it’s
all about location, location, location. No
matter where you live, though, you’re
invited to tackle our latest Final
Exam challenge.
ON
THE
WEB
A Message from the Dean
Being a thought leader in
business means sharing good
ideas as widely as possible,
and nothing has furthered
this aspect of the School’s mission
more dramatically than the social
media revolution.
Wharton has always been on the
vanguard of technological innovation,
and these days we are more plugged
in than ever thanks to such sites as
Facebook, Twitter and LinkedIn. If you
aren’t already doing so, I encourage you
to stay connected as alumni through
at least one of these digital platforms.
Each is at once a virtual campus,
bringing our international community
closer together, and a portal to the
world, bringing Wharton news and
ideas to ever-expanding audiences.
Now more people have access to the
latest faculty research, student and
alumni stories, and School highlights
from across the globe—as well as more
opportunities to share their thoughts
with us.
Thomas S. Robertson
Dean and Reliance Professor of
Management and Private Enterprise
Join the Conversation
www.wharton.upenn.edu
Wharton’s new website allows visitors
to jump directly from the homepage to
the to the School’s Facebook, Twitter,
LinkedIn, YouTube and Flickr pages.
VISIT WHARTON ON …

Editor’s
Letter
There are no Gustavus W. Smith Elementary
Schools in the South.
Because when history called, Smith refused to
answer.
As William and Jacalyn Egan Professor of Management
Michael Useem explained to an audience
during Wharton’s 2010 MBA Reunion Weekend,
Smith served (for a very brief time) as Commander
of the Army of Northern Virginia,
the fl agship army of the Confederate
States of America. Smith assumed
command of that army on May 31,
1862, just moments after his superior,
General Joseph E. Johnston, was
badly wounded in battle—and just
as his breakaway republic seemed
on the brink of collapse.
It was a perilous time for the Confederacy.
The Union Army was closing
in on Richmond. A very worried
Confederate President Jefferson
Davis asked Smith for his plan. The Michael Useem
general asked for a day to fi gure it
out. Davis obliged.
Now, if anyone would have seemed fi t to tackle
the monumental task before him, it was Smith. He
had graduated eighth in his class at West Point.
He was a decorated veteran of the Mexican-American
War. He knew strategy as well as anyone in
the Confederacy. And here, in the early summer
of 1862, his moment had arrived.
On June 1, just as he had promised, Davis returned
to the battlefi eld. The Union Army was rumbling
in the distance.
Again, he asked Smith for his plan.
“Sir, I have no plan to defend the Confederacy,”
Smith infamously replied. “Do you have any
good ideas?”
Suffi ce to say, Smith’s tenure as the South’s top
commander was short-lived. He was promptly replaced
by a little-known, lightly regarded colonel by
the name of Robert E. Lee—a man who would go on
to repel the Union Army’s advance on Richmond,
6 | WHARTON MAGAZINE | SUMMER 2010
extend the Civil War for two long years and prove
himself to be one of the most brilliant—and most
decisive—Generals in American history.
As Useem explained, what Lee had—and what
Smith so clearly lacked—was the ability to make
decisions in times of crisis. It is an ability that all
great leaders simply must have.
Especially today.
Especially in business.
At Wharton, it is plain to see, students
are taking Useem’s lesson to
heart.
A couple days after hearing Useem
speak, we here at Wharton Magazine
interviewed one of Wharton’s newest
graduates, Salim Kassam, WG’10,
who had been chosen by his classmates
to serve as their Commencement
speaker (you can check our
video interview with Kassam by visiting
whartonmagazine.com). During
our interview, we asked Kassam what
he thought he would take away from
his Wharton experience.
His answer echoed, almost to a tee, what Useem
had said two days before.
“What I learned at Wharton was to be fearless in
life, to be selfl ess in life,” Kassam said, “and to be
willing to take action.”
Later that day, Kassam joined 950 of his MBA
classmates in receiving their Wharton degrees.
The School also handed out 606 undergraduate
degrees. These new graduates now enter a troubled
fi nancial world, one that will demand not only
creativity, fearlessness, selfl essness and brilliance,
but also decisiveness—decisiveness in the face of
great uncertainty.
Eventually, history will come calling for them.
I’m betting that, when their moment arrives, they
will be more than willing to seize it.
Sincerely,
Tim Hyland / Editor
ILLUSTRATION BY: KEN FALLIN
WHARTON
MAGAZINE
EDITORIAL STAFF
Director of
Communications
Sherrie A. Madia, Ph.D.
Editor
Tim Hyland
Associate Editor
Lauren Anderson
Assistant Editors
Carol Quinn
Stefanie Schultz
Editorial Committee
Karuna Krishna
Jillian McGowan
Ira Rubien
Susan Scerbo
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Business Manager
Stefanie Schultz
Design
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magazine@wharton.
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ADMINISTRATION
Th omas S. Robertson
Dean and Reliance
Professor of Management
and Private Enterprise
Sam Lundquist
Associate Dean
External Aff airs
Wharton Magazine
Vol. 16, Edition 3
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‘Clunky Typewriters?’ Think Again …
Editor’s Note: Our regular “From The Vault”
feature from our Spring issue generated enormous
reader response. For good reason, too: We
here at Wharton Magazine made a mistake. In
the opening sentence of our short piece about
Dietrich Hall, we wrote that the pictured students
could be seen “typing away” on “clunky
typewriters.” At least, we thought they were
typewriters. But it turns out, they weren’t—
and many of our readers wrote in to correct
our mistake. We received far too many letters
to include in this issue. But here are some of
our favorites.
I read with great interest your short note
about Dietrich Hall in the Spring issue of
Wharton Magazine.
You may be interested to learn that the
“clunky typewriters” in the 1960 photo were
not typewriters at all.
They were mechanical calculators, which
were actually able (believe it or not) to multiply
or divide large numbers in a fraction
of a minute. They produced their results
one digit at a time, but very quickly. This
was obviously a great labor-saver compared
with doing this type of calculation manually,
which is why you see so many Wharton
students (all male and mostly with jackets
and ties, I noted) taking advantage of the
availability of these state-of-the-art devices.
There were two such machines in the
early 1950s—Friden (the ones pictured) and
Marchant. My recollection is that the Marchants
were “clunkier” than the Fridens; so
perhaps by 1960 the Fridens were the only
ones used.
I should add that Dietrich Hall was indeed
a great improvement over the prior site for
most Wharton classes, Logan Hall, though
I don’t recall any air conditioner as is present
in the 1960 photo. I fondly remember
an 8 a.m. class in a cramped, non-air-conditioned
attic classroom on the top fl oor of
Logan in my pre-Dietrich freshman year.
David Sachs, W’54
Before electronic calculators, before computers,
before Excel spreadsheets, there was the
Friden. The advent of the electronic calculator
quickly obsoleted these heavy, large and
somewhat confusing-to-operate machines,
which were truly a work of art and science.
Using a system of gears, buttons and levers,
the calculating machine could solve
complex mathematical problems, in addition
to the basic add, subtract, multiply and
divide functions. While solving the problem,
the machine would shake, rattle and clank
while the long bar at the top would move
from side to side. They were amazing machines,
and worth the time to look up online.
At an accounting fi rm I worked at during
my college years’ summers, we would see
who could set up the problem that would
take the longest to solve, just to see the machines
dance and hear the rhythmic beat of
the gears.
Joel Kantor, W’66
I howled with laughter at the sight of the
1960 photograph of Dietrich Hall and [the
sentence], “Don’t let those clunky typewriters
fool you.” Those clunky calculators did
fool you!
In addition, my fellow students never
came to class so handsomely dressed
and well groomed. Perhaps these students
dressed for the photo op or were on
their way to an interview? Anyone recognize
themselves? And note the ashtray on
the table!
Thank you for a lively and entertaining
magazine.
Brita Skarbrevik, W’58
Those contraptions pictured are (almost
certainly) what were called accounting or
bookkeeping machines—in eff ect, large electro-mechanical
adding machines with rows
and columns of mechanical digit keys like
old-time cash registers.
I think they were mostly replaced by electronic
adding machines by the early ’70s,
though in my early post-MBA career, in the
late ’70s and early ’80s, I would sometimes
stumble upon one at a vacant desk in my
job travels. After plugging it in, for fun (obviously
I am easily amused) I would enter
something like 999,999,999 divided by 111
and then watch the machine mechanically
whirr through the calculation, often taking
as long as 30-45 seconds!
Send your letters via email to letters@
whartonmagazine.com or via traditional mail
to: Letters, Wharton Magazine, Wharton
External Aff airs, 344 Vance Hall, 3733 Spruce
Street, Philadelphia, PA, 19104-6360. Letters
may be edited for clarity or brevity.
ON
THE
WEB
Th e Inbox
For more letters visit:
www.whartonmagazine.com
The carriage you see at the top of the machines
in the photo would move during this
process. Even then, I was amazed to realize
that these accounting machines were
once the cutting edge of our computational
technology.
Thanks for sharing this.
D. Craig Blizzard, WG’77
I believe you may have dated yourself in the
Spring 2010 edition (as am I now!). On page
10, the “clunky typewriters” shown in “From
The Vault” appear to be “clunky adding machines”
(aka Friden calculators).
Notwithstanding this historical discrepancy,
the Wharton Magazine in its revamped
format is refreshing and a pleasure to read.
Robert W. Swaney, W’63
Excuse me, but those so-called “typewriters”
labeled in your photo are Rotary Calculators,
precursors of the electronic version.
The guy in the front of the photo is operating
a Friden brand and the next man over
is using a Marchant.
How do I know? My dad was a regional
sales manager for Marchant for 20 or so
years in Indianapolis.
Jerrold Asher, WG’54
I was amused by the explanation under the
picture taken in Dietrich Hall that the students
were using “typewriters.”
As can be clearly seen, those are Friden
Electro-Mechanical calculators, not typewriters.
Almost no one owned a calculator
at that time, and the room was available in
Dietrich Hall to work on projects involving
mathematical calculations.
Today I have a better calculator that I
bought for a dollar at Wal-Mart.
M. Bruce Miner, W’60
SUMMER 2010 | WHARTON MAGAZINE | 7

Guest Commentary
‘Purpose,
pragmatism and
people’
“Purpose, pragmatism and people” aptly capture much
of the essence of the India Way. Composed of a mix
of organizational capabilities, managerial practices
and distinctive aspects of company cultures, the
book identifi es what makes Indian enterprises diff erent from fi rms
located elsewhere. This essence is characterized by four principal
practices: holistic employee engagement, improvisation and adaptability
of managers, creative value delivery to customers and a broad
sense of mission and purpose.
Bundled together, these principles constitute a distinctly Indian
way of conducting business, one that contrasts
with combinations found in other
countries. Indian business leaders, as a
group, place greater stress on social purpose
and transcendent mission, and they
do so by devoting special attention to surmounting
innumerable barriers with creative
solutions and through the utilization
of a prepared and eager workforce.
Not all Indian business leaders are saints
or sages, just as not all American CEOs are
laser-like focused on delivering shareholder
value while ignoring larger societal concerns.
Nor do Indian fi rms and their leaders
hold a monopolistic view on virtue. Corruption
and malfeasance can be found in the Indian
business community, like Satyam Computers, 1 just as it can
be found in other countries. Yet, the attributes of the India Way
appear often enough and especially among India’s most successful
companies, who have come, we believe, to constitute a clear and
distinctive model. Drawn from the voices of Indian business leaders,
and from our observations of Indian leaders and companies
in action, the four attributes of the India Way capture much of the
modern Indian way of conducting business.
In completing this study of Indian business leaders, we were repeatedly
reminded of the remarkable impact that Japanese business
leaders and the Toyota Way have had on the auto-making
8 | WHARTON MAGAZINE | SUMMER 2010
Indian Business Leaders Do Th ings
Th eir Own Way—‘Th e India Way’
BY PETER CAPPELLI, HARBIR SINGH, JITENDRA SINGH AND MICHAEL USEEM
world and far beyond. The methods of lean production pioneered
by Eiji Toyoda and his company—treating all buff ers as waste and
seeking continuous improvement in all aspects of production—originated
in the cultural traditions and austere times of postwar Japan.
But the methods have proved powerful drivers far beyond that context,
enhancing both quality and productivity in everything from
Porsche manufacturing in Germany to hospital processing in the
United States. With a model originally built in Japan, Toyota has
become the world’s largest automaker, and its methods have come
to be widely emulated by managers far beyond Japan.
Much the same applies to the India Way.
It was born of the circumstances facing Indian
business during the past two decades,
but like the Toyota Way, it is also a model
that can readily transcend its origins, providing
a template for Western business leaders
to reinvigorate their own, often sluggish
growth rates. Think of it pragmatically: if applying
the principles of the India Way were
to generate even a single extra percentage
point in yearly growth, say increasing the
annual growth rate from 3 to 4 percent over
the next fi ve years, the 4 percent–rate companies
would see their value doubled, compared
to 3 percent–rate fi rms. Over 10 years,
they would triple their worth, compared to
the slower-growing companies.
India is a world leader in business, with interests ranging from
medical procedures to investment banking. Innovation and ideas
either migrate from other countries to India or spring up from
within. Simultaneously, Reliance, ICICI, Infosys and hundreds of
India’s other top companies have been clambering onto the world
stage to compete directly against Western multinationals in virtually
all sectors. In mastering the art of high-quality and effi cient
production—and in developing unique ways to manage people and
assets to achieve it—Indian executives have delivered growth rates
that would be the envy of any Western executive. During much of

the 2000s, India’s gross domestic product (GDP) had been rising
by more than 9 percent per year—several times that of the United
States and nearly equal to that of China. That 9 percent–plus GDP
growth, we should note, represents Indian businesses as a whole.
Many of the nation’s premier companies—the focus of our inquiry—reported
that they were growing at twice the rate of the general
economy or more. Chairman Subhash Chandra of Zee Entertainment
Enterprises—India’s largest media and entertainment company—told
us, for instance, that his company had grown from $400
million in annual revenue six years earlier to $2 billion at the time
of our interview with him. Managing director G. R. Gopinath of
Deccan Aviation said before his acquisition by Kingfi sher Airlines
in 2007 that he had been adding a new aircraft every month to the
fl eet, growing from one to 45 planes in less than four years. Infosys
Technologies’s chairman Narayana Murthy had presided over
a company that employed 10,700 and drew $545 million in revenue
in 2002; seven years later, his company employed 104,900 and
earned revenue of $4.6 billion.
Originally, we did not believe that the rapid expansion of the Indian
economy would be the result of an innovative and exportable
way of doing business. In fact, we had expected much the opposite:
with the triumph of American-style capitalism, at least until it
came under a cloud during the fi nancial crisis of 2008–2009, managers
around the world had often sought to understand the leadership
secrets of U.S. companies like Apple Computer and General
Electric. In commencing our study of Indian business leaders, we
had anticipated a cross-national convergence on American terms,
with Indian companies looking to adopt the management methods
of Steve Jobs, Jack Welch and other leaders of American enterprise.
What we found instead was a mantra of “not invented there.”
Though well aware of Western methods, Indian business leaders
have been blazing their own path. And though rooted in the traditions
and times of the subcontinent, the value of their distinctive
path can, we believe, transcend the milieu from which it arose. When
Indian companies, for instance, take over publicly traded American
fi rms—such as Tata Motors’ acquisition of Ford’s Jaguar and
Land Rover divisions in 2008—research confi rms that the acquired
fi rms increased both their effi ciency and their profi tability. Western
fi rms might be well advised to learn from the Indian experience in
advance. Indeed, understanding the India Way and its drivers has
become vital for business managers everywhere.
This piece is adapted from The India Way: How India’s Top Business
Leaders are Revolutionizing Management. The book is published by
Harvard Business Press.
1. “Satyam: Sanskrit for ‘Enron’” – Wall Street Journal. Th e Indian IT company
“cooked the books to the tune of at least $1 billion” http://online.wsj.com/article/
SB123143655097064873.html
Principle Practices
of the India Way
Holistic engagement with employees. Indian business
leaders see their fi rms as organic enterprises where
sustaining employee morale and building company culture
are treated as critical obligations and foundations of their
success. People are viewed as assets to be developed, not
costs to be reduced; as sources of creative ideas and pragmatic
solutions; and as bringing leadership at their own level
to the company. Creating ever-stronger capabilities in the
workforce is a driving objective.
Improvisation and adaptability. Improvisation is also
at the heart of Th e India Way. In a complex, oft en volatile
environment with few resources
and much red tape, business leaders
have learned to rely on their
wits to circumvent the innumerable
hurdles they recurrently confront.
Sometimes peppering English-language
conversations, the Hindi
term ‘jugaad’ captures much of the
mind-set. Anyone who has seen outdated
equipment nursed along a
generation past its expected lifetime
with retrofitted spare parts
and jerry-rigged solutions has witnessed
jugaad in action. Adaptability
is crucial as well, and it too is
frequently referenced in an English-Hindi
hybrid, adjust kar lenge—
“We will adjust or accommodate.”
Creative value propositions. Given the large and intensely
competitive domestic market with discerning and
value-conscious customers, most of modest means, Indian
business leaders have of necessity learned to be highly
creative in developing their value propositions. Th ough
steeped in an ancient culture, Indian business leaders are
inventing entirely new product and service concepts to satisfy
the needs of demanding consumers and to do so with
extreme effi ciency.
Broad mission and purpose. Indian business leaders
place special emphasis on personal values, a vision of
growth and strategic thinking. Besides servicing the needs
of their stockholders—a necessity of CEOs everywhere—
Indian business leaders stress broader societal purpose.
Th e leaders of Indian business take pride in enterprise success—but
also in family prosperity, regional advancement
and national renaissance.
SUMMER 2010 | WHARTON MAGAZINE | 9

Debrie
A Battle in the Pacifi c
School News
Th ere is a Trash Heap the Size of Texas Floating in the North
Pacifi c. Doug Woodring, WG’95, is Working to Clean It Up.
On
the morning of August
2, 2009, Doug Woodring
and two dozen scientists,
oceanographers and environmentalists
departed San Diego Harbor aboard
the 130-foot marine research vessel New
Horizon. They were bound for a massive
section of ocean formally called the North
Pacifi c Gyre, a remote swath that has come
to be known simply, and tragically, as the
“Great Pacifi c Garbage Patch.”
Four days and 400 miles later,
Woodring, WG’95, was sailing into the
heart of his new life’s mission—gazing off
into the distance and trying to fi nd the fabled
island of trash. But it was only when
he fi xed his eyes straight down, directly
overboard, that he fi nally could see the
white particles strewn like confetti blanketing
the ocean surface.
“It looks like stars in the sky,” Woodring
Bottom
Line
10
campus for MBA Reunion Weekend. Th is year,
For three days each spring, Wharton
welcomes its alumni and their families back to
graduates from around the world returned to
campus to meet up with former classmates,
learn about the latest business research
from top professors, hear about the School’s
exciting new programs and initiatives, enjoy
family-friendly activities and, of course, to have
a party or two—Wharton-style. In this edition
of the Bottom Line, we take a look at Reunion
Weekend 2010.
10 | WHARTON MAGAZINE | SUMMER 2010
says, “but instead of looking up you’re
looking down in bright blue water, and it’s
everywhere.”
The particles are plastic. Plastic that may
well have been used for 30 minutes or an hour,
but won’t biodegrade for 300 to 1,000 years.
“When something washes into a river or
stream or beach, if the wind doesn’t push it
back on shore or it doesn’t sink, it can wind
up in the ocean,” Woodring says.
And it has. When Woodring learned at
a 2008 tech conference that incalculable
amounts of water-borne plastic debris were
fi nding its way to one specifi c section of the
Pacifi c Ocean, he knew inaction was not an
option. Which is why just four months later,
Project Kaisei—Kaisei means “Ocean Planet”
in Japanese—was born. Based in San Francisco
and Hong Kong, the nonprofi t aims to
measure the scope and scale of the North
Pacifi c garbage patch and better understand
“offi cial” parties, including the 2005 MBA
Pub, the all-alumni mixer, seven reunion class
dinners, and . . . the WG’90 Barn Bash
276
registrants from the Class of
2005—tops among all classes
1,618 total attendees
its impact on oceans and the environment.
In addition, Project Kaisei works toward
solutions for both prevention and clean-up
of the waste.
A native of the Bay Area, Woodring, 44,
has spent virtually his entire life swimming,
surfi ng and paddling in, on and through the
water. Through Project Kaisei, he’s hoping
to ensure future generations will be able to
do the same. And some believe he’s got a
chance to do just that.
“He has a personality that engages people,”
says James Leichter, associate professor in
biology at Scripps Institution of Oceanography
at the University of California at San
Diego. “Because he has a background both
in business and economics as well as in environmental
issues, he’s able to interface with
people in these disciplines quite eff ectively.”
Woodring majored in political science
and economics as an undergraduate at UC
Berkeley, and worked for a few years in Asia
before enrolling at Wharton. After graduation,
Woodring headed back to Asia, where
he created a framework for a global environmental
technology fund at Merrill Lynch. He
later migrated to the startup world, where he
1visit from Philadelphia’s own
“Ben Franklin” at each of
Saturday’s fi ve Family Picnics

f
remains today as a consultant. But Project
Kaisei is his ultimate startup. The organization
initially came together with the simple
mission of educating the public about
the garbage patch and the problem of plastics.
It has since morphed into much more.
“The main goal is to show there’s a value
for waste,” he says. “New technologies are
coming out in diff erent parts of the world
right now that to me are pretty promising
for the waste management business. If some
of these can turn plastics into fuel by re-liquefying,
it’s a great way to get this stuff off
the planet.”
For now, though, the focus is on the gyre,
“State of the
School” address
by Dean Th omas
Robertson and
one “State of the
University” address
by Penn President
Amy Gutmann
12 events
one of at least fi ve spots in the world’s oceans
where water comes together along a circular
path, essentially rotating around a central
point. The gyre, it seems, cannot help
but attract all of that plastic.
During last August’s expedition, Project
Kaisei and its partner, the Scripps Institution,
took more than 250 samples from the
surface of more than 3,500 miles of water.
Plastic was found in every single one.
In other words, while the trash heap hasn't
gotten nearly the attention that the Gulf oil
spill has, it may be just as disastrous for the
ocean environment. “There’s plenty of evidence
that [this plastic] is eaten by all kinds
of wildlife. They’ve recently found a sperm
whale in California that had 800 pounds of
plastics inside his stomach,” he says.
off ered on Friday; 31 events
across campus and in Philadelphia on
Saturday; and three events, including
Commencement, on Sunday
3family-friendly, exclusively
Philly excursions: Franklin
Institute Tour, Mural Arts
Trolley Tour and Please
Touch Museum visit
Still, Woodring came away from the voyage
optimistic that improvement is possible.
He’s even kicking around the seemingly
outlandish idea of cleaning up the trash. All
of it. Next on Project Kaisei’s agenda, however,
is another research trip to the gyre.
The trip is set for August, and the group is
in the process of trying to raise $3 million
for the work.
“We are trying to tackle a huge issue,”
he says. “The ocean covers two-thirds of
the earth, but it is the momentum, and the
awareness, that is really going to make some
changes. We don’t need billions of dollars,
but getting our expeditions out to sea to
learn how to deploy new technologies goes
a long way in motivating the world to think
about changes.” —Mike Unger
14.75
hours of professional education workshops and presentations
led by top Wharton faculty, staff , and alumni, including:
Professors Mike Useem, Olivia Mitchell, Raffi Amit,
Jeremy Siegel and Peter Fader; on such topics as
leadership, retirement, private equity, personal wealth
management, interactive media and career development
SUMMER 2010 | WHARTON MAGAZINE | 11

News
Briefs
Wingard Named Vice Dean
of Executive Education
Dr. Jason Wingard, formerly a senior director
of the Wharton Executive Education program,
was named Vice Dean for Executive Education
in early April.
As Vice Dean, Wingard will oversee Wharton’s
non-degree executive education programs,
including open enrollment and custom programs.
Those programs reach an estimated
9,000 business leaders each year through sessions
in Philadelphia and Wharton | San Francisco
as well as global programs in India, China
and Europe.
Prior to his return to Wharton, Wingard
served as executive director of the Stanford
Educational Leadership Institute, a senior fellow
at the Aspen Institute and founder and
managing partner of Th e Zoeza Group, a management
consulting fi rm specializing in organizational
strategy, leadership development and
business planning. Wingard holds a bachelor’s
degree in sociology from Stanford, master’s degrees
in education from Emory and Harvard,
and a Ph.D. from the Graduate School of Education
at Penn.
$3.16 Million Gift Establishes Wharton-
Netter Center-Community Partnership
Wharton in early May received an anonymous gift
of $3.16 million to establish the Wharton-Netter
Center-Community Partnership.
Th e goal of the new community partnership
is to create an eff ective model for universityassisted
community development that can be
replicated both in cities throughout the United
States and the world. Th e Wharton-Netter Center-Community
Partnership will work to develop
and implement programs in social impact
that involve both Penn students and faculty in
curricular, co-curricular and research activities.
“We are deeply grateful for this gift ,” said
Dean Thomas S. Robertson. “The Wharton-Netter
Center-Community Partnership will
stand as a dramatic example of the potential
for business to enact positive change on both
local and global levels.”
Ira Harkavy, Associate Vice President and
founding director of the Netter Center, said he
believes that university-community partnerships
“can powerfully advance research and learning,
as well as the quality of life in communities.”
Founded in 1992, the Barbara and Edward
Netter Center for Community Partnerships works
to use the broad range of human knowledge
needed to solve the complex, comprehensive,
and interconnected problems of American cities
and communities so that West Philadelphia
(Penn’s local geographic community), Philadelphia,
the University itself, and society benefi t.
For more information about the Center, visit
http://www.upenn.edu/ccp/.
12 | WHARTON MAGAZINE | SUMMER 2010
Down From the iMount
Wharton Folly
Illustration by Brian Ajhar
Concept by the Wharton Folly Committee (Joel Serebransky, WG’85,
Matthew Sinacori, WG’03, Ram Rajagopal, WG’02, Steve Margolis, WG’86,
and Andy Stack, WG’01)

The Future of Books?
It’s Anyone’s Guess
Here’s a riddle for the publishing industry: if someone
were to write a book about the future of books,
what would the result look like? Published between
covers or an e-book? Promoted through traditional
channels or social media? Sold at Barnes & Noble or uploaded
to the Kindle or iPad?
The currently amorphous answers are being debated in editorial
offi ces, corporate boardrooms and, increasingly, in public,
as though the industry, facing the digital revolution and
wary of a misstep, wants to test new concepts. Three separate
panels were held over the span of a week in April in New York
to discuss the book’s future. The most prominent took place
during the Wharton Future of Publishing Conference, a kind
of Apalachin Meeting for the media in which high-ranking emissaries
from the industry came together at the Marriott Marquis
to plot a course forward. Days earlier at the New School,
the London Review of Books pondered the “Author in the Age of
the Internet,” and two days after Wharton’s event, at the PEN
World Voices Festival, another talk covered similar ground.
Debrief
In attending these events, two things became clear: Gutenberg’s
name hasn’t been invoked this much since the 15th century—as
in, “Not since Gutenberg invented the printing press”—and, while
theories abound, no one knows what book publishing will resemble
even two years from now. “People have presented interesting
pieces but I haven’t seen anybody put the whole picture together,”
says Brendan Cahill, C’96, WG’98. Formerly an editor at Gotham
Books, Cahill left traditional publishing and went to Wharton to get
his MBA. Now he’s looking to “crack the code,” as he put it, and create
a new business model for the 21st century as Vice President of
e-book publisher Open Road.
Cahill was one of the panelists at the Wharton conference, which
was sponsored by the Wharton Interactive Media Initiative (WIMI),
Knowledge@Wharton and Wharton School Publishing. Peter Fader,
Wharton’s Frances and Pei-Yuan Chia Professor and co-director of
WIMI, said the idea was “to get folks together and, instead of navel
gazing, rely on data.” Not that navel gazing didn’t take place. What
follows are some thoughts on the future of the book from participants
of the Wharton and London Review panels. In their confl icting
mix of optimism, anxiety, measured concern and humor, the comments
illustrate the diverse range of thought at this critical and unsure
moment in the history of the published word.
—Steven Kurutz
JASON EPSTEIN, founder, On Demand Books: “Th e fragility of content in digital form
is something to worry about…It’s very, very important that we keep physical
inventories…Because that’s all we have between ourselves and chaos.”
JOHN LANCHESTER, British writer, novelist: “When I picked up my felt tip pen, I was hoping to write books. I wasn’t expecting to live
through a moment of cultural and technological ferment.”
BRENDAN CAHILL: “E-books are the future, and it’s going to be here faster than anyone thinks.”
JAMES WOOD, New Yorker magazine: “I bumped into Andrew Sullivan a couple of weeks ago in Washington, DC. Some of you know
he made a switch from print journalism to blogging at the Atlantic. I said how are you doing? He said, not so well. I was thinking he
was going to talk about his physical health. It was really his mental health he talked about. He does 300 posts a week. As you might
imagine, it has completely interfered with his ability to concentrate on anything longer than a few paragraphs.”
ELLEN ARCHER, president/publisher of Hyperion: “Th e beauty of a book for me has been about the writing
and storytelling. I don’t feel the need to hold a physical book in my hand.”
STEVE WILSON, co-founder, Fast Pencil: “In 2009, traditional publishing remained
stagnant, and self-publishing grew by almost 200%. Just like
you see on TV—it’s reality shows, individuals being themselves.”
SUMMER 2010 | WHARTON MAGAZINE | 13

Wharton Q&A
Why ‘Participation’ Matters
As Wharton’s New Associate Dean for External Aff airs, Sam Lundquist
Wants to Build a Stronger Connection Between the School and its Alumni
When Sam Lundquist enrolled
at Denison University in the
fall of 1977, he did so without
any specifi c career in mind.
As a self-described “classic liberal arts”
student, Lundquist instead hoped that his
college experience—his learning experience—
would ultimately tell him what he wanted to
do with his life.
“I went to college hoping to learn what I
would be passionate about,” says Lundquist.
“I went through three years of college and
then I sort of had this epiphany where I realized
I could actually have a career in higher
education.’”
And he has.
After graduating from Denison with a psychology
degree in 1981, Lundquist took a
job in Bucknell University’s admissions offi
ce. He’s remained in academia ever since.
In a long and winding career that’s taken
him through a variety of positions at four different
universities, the one constant through
the years, it seems, has been Wharton, which
he’s returned to now three diff erent times.
After serving as associate director of admissions
here between 1985 and 1987, Lundquist
later returned to serve as director of MBA
admissions and fi nancial aid (1992-1996),
chief of staff (1996-1999) and managing
director of administrative services (1999-
2000). He also spent fi ve years working as
Penn’s assistant vice president for development
and campaign initiatives between
2001 and 2006.
But when the Philadelphia native left Penn
to return to Bucknell as vice president for
development and alumni relations in 2006,
Lundquist was fairly certain that stop would
be his last.
Then there came word that a new opportunity
had opened up at Wharton.
“It was something I couldn’t resist,” says
Lundquist, who took over as Wharton’s Associate
Dean for External Aff airs in April. “Because
of my deep background at Wharton,
and because of the opportunity to work with
this outstanding alumni body, it is something
14 | WHARTON MAGAZINE | SUMMER 2010
that was very, very appealing
to me.”
In his new role,
Lundquist will not only
guide Wharton through
the last two years of
its historic $550 million
fundraising campaign,
but also work to
strengthen connections
between the School and its alumni.
How does he plan to do that? That was
among the many questions we asked when
we sat down for a conversation with Lundquist
earlier this summer.
You obviously have an affi nity for Wharton.
What is it about the culture here that keeps
drawing you back?
The thing I love about Wharton is the culture
of ‘initiative’ here. I always remembered
that initiative was highly valued in the admissions
program when I was involved in it.
Wharton is a place that is big enough and
complex enough that if you’re going to be
successful here, you’re going to have to be
a self-starter and take initiative—and take
risks, too. That’s what I love about Wharton.
Tell me a bit about your approach to development,
and what you’d like to achieve here
at Wharton.
One of the big messages that we want to
get out to the Wharton community is that
good fundraising results refl ect a healthy
campus culture. We very much recognize the
value of student and alumni engagement in
all of the School’s programmatic off erings.
Our focus really needs to be on those engagement
experiences, so that the students
and alumni working with us are adding value
to what we’re doing. Also, that at the same
time, it’s reciprocal, so engagement provides
value back to them. It’s only then that we
can switch from this ‘engagement moment’
to one that would be supported with a fi nancial
contribution. Because we know people
will give to their passions.
How would you define ‘engagement’ in
terms of alumni involvement?
Engagement can be both informal and
formal. When a student or a graduate takes
on a volunteer leadership position, they become
formally engaged with us—as a board
member, for instance, or with the Wharton
Graduate Association. Students and alumni
in that type of formal leadership role have a
set of responsibilities that really defi ne the
way in which the institution interacts with
them. But not everyone who graduates from
Wharton wants to be on the board. That’s
why informal engagement is critically important
to us, as when alumni engage with
their local Wharton clubs, or come to campus
to recruit for their companies, or participate
in career networking through our
online community, or help organize classbased
activities as part of a Reunion committee.
The act of giving to Wharton is also
a form of engagement. Contributing to Class
Notes is a form of engagement. It can get
that simple. Because we also know that people
are so busy, we want to create an environment
in which even their small acts of
engagement are still meaningful.
One of your principal tasks here at Wharton,
of course, will be successfully wrapping up
the campaign. Where do we stand today?
We’re at 65 percent of our $550 million
goal, which means that as much as we
can celebrate what we’ve accomplished,
we do still have a couple hundred million
left to go. And so we’ll approach the next
two years as a campaign within the campaign.
We have a very well-defi ned outcome
for what we want to achieve over the next
two years: We want to raise $200 million.
If that goal is achieved—or, I should say,
when it’s achieved—we will have set fundraising
records and strengthened Wharton
considerably.
How do you plan to “re-energize” the campaign
and ensure that these goals are met?
Well, campaigns are seven years long for
a reason—and one reason why is to weather
economic cycles. The reality is that we’ve
just been through one of the biggest economic
downturns ever. But the fact that we’re
emerging from the past several years of economic
turmoil is in and of itself an opportunity
to refresh the campaign.

The wonderful thing about Wharton is
how dynamic this place is. Our priorities are
well-known to us, but opportunities are the
things that cycle in during the life of a seven-year
campaign—everything from social
impact to faculty development to curriculum
development. Scholarships have been one
of the constants throughout the campaign.
We’ll also have the opportunity to talk about
opportunities in our international initiatives
and all of Wharton’s research centers, which
are constantly evolving.
Why is it so important for Wharton to achieve
these goals?
One reason that emerges top of mind for
me is the little-understood phenomenon that
tuition alone does not pay the operating costs
of the School. It is, instead, the generosity
of those who came before that allows the
current student body to enjoy what Wharton
is today. And it is the accomplishments
of those not yet here at Wharton—the next
generation—that will make Wharton even
greater than it is now.
Can you speak generally about your goals for
the School?
I am very interested in fi nding a way to
communicate out [to our stakeholders] the
importance of participation. This “Wharton
Community” provides the critical mass that
defi nes how far we can reach. It’s the most
powerful asset we have, and it provides the
basis for moving forward in a very meaningful
way. My strategy is to do as much as
we possibly can … to make sure alumni and
friends can invest in the School in a manner
that is of value to them and that ultimately
has the value of strengthening their
Wharton degree.
How do you accomplish that?
It goes back to building a healthy culture
of philanthropy, which I sometimes now refer
to as a culture of investment or a culture of
innovation. We want our alumni services
to be valued by the people who are seeking
those services, and relevant to them, too. We
are very interested in being as creative and
innovative as we can. But we can’t do that
without the gift of time from our alumni,
and the gift of fi nancial resources. It takes
both. And that gets down to the question of
participation. —T.H.
ENGAGEMENT
60
50
40
30
20
10
Top Tweeters
FEWER CHANNELS
Debrief
Ask Dawn Henderson what most impresses her about Wharton’s efforts in
social media, and her answer is quick and succinct: “Everything.”
Henderson, an Honours marketing student at the University of Strathclyde
in Glasgow, Scotland, set out this year to analyze the social media involvement
of 20 top business schools in the United Kingdom and United States. And when
Henderson fi nished her work, one thing was clear: Wharton is tops in tweeting.
And pretty much everything else in social media, too.
According to Henderson’s analysis, Wharton ranked far ahead of its peer schools.
Harvard Business School and MIT’s Sloan School of Management were next best.
In her dissertation, Henderson wrote that Wharton “is clearly focused on engaging
with prospective students, current students and their alumni, who all
show a keen interest in interacting with [the School] and adding to their student
experience.”
Booth
London
MORE ENGAGEMENT
LESS ENGAGEMENT
CHANNEL PRESENCE
MIT Sloan
Harvard
Wharton
MORE CHANNELS
0
0 5 10 15 20 25 30
SUMMER 2010 | WHARTON MAGAZINE | 15
CHRIS PHILPOT

From Th e Vault
A Real-World
Look at
Private Equity
Marc Wolpow, W’80,
jokes that when he
was at Wharton, it’s
not just that there was no course
on private equity. It’s also that
there was not a recognized industry
in private equity.
Today, of course, that’s hardly
the case.
Though private equity activity
and leveraged buyouts have been
staples of the business world
since the early 1900s, only in
recent years has PE become established,
somewhat unoffi cially,
as a sector all its own—not to
mention a possible career path
for Wharton grads. In response
to the rapidly growing interest
in private equity, Wharton this
year created the Advanced Seminar
on Private Equity, a new
course designed by Associate
Professor of Finance N. Bulent
Gultekin to bring a uniquely “real
world” perspective to Wharton’s
16 | WHARTON MAGAZINE | SUMMER 2010
classrooms—and give students
an idea of what it takes to make
it in PE.
Wolpow believes the course
delivered exactly that.
“It was a great experience,”
says Wolpow, Co-Chief Executive
Offi cer at the Audax Group
in Boston and a contributor to
Gultekin’s course. “The students
were very engaged. They had
great questions, and they clearly
valued the experience.”
The Advanced Seminar on
Private Equity was designed
by Gultekin to be a strictly “applied”
course, presenting material
on the entire private equity
cycle through the experience of
high-level practitioners such as
Wolpow, Fadi Arbid, WG’03, Executive
Vice President for private
equity firm Amwal AlKhaleej,
Ammar Al-Khudairy, CEO of
Amwal AlKhaleej, and Antoine
Dréan, WG’92, Chairman and
CEO of Triago, among many
others.
The course grew out of a request
by Dean Thomas S. Robertson
and Deputy Dean Mike
Gibbons, who had been seeking
Penn Commencement used to be
a decidedly downtown aff air. Back
in 1901, graduates marched from
34th and Walnut all the way to
Broad and Locust. Ceremonies
were moved to University City
starting in 1922.
a way to tap into the expertise
of Wharton’s alumni network in
private equity and have students
learn fi rst-hand from successful
practitioners.“They wanted to
develop an experimental course
a bit diff erent from other off erings,”
explained Gultekin. “Since
our alumni were very supportive,
we would bring them into
the classroom. I developed some
teaching materials, including
some cases, and invited alumni
to address each topic—how they
did it, how they do it, comparing
across companies.”
For Wolpow, that meant getting
down the “nuts and bolts” of
running his fi rm—including such
“human” issues as managing his
relationship with his co-CEO.
Overall, he came away impressed
with the students’ inquisitiveness
about the business—not to
mention the functionality of this
unique new course.
“If the other classes in the
course were as productive as the
one I attended,” Wolpow says, “I
have no doubt that it will be a
very successful course.” —T.H.
& K.A.
WHARTON IN THE NEWS
Google, the Whale to be Harpooned
Th e Seattle Times | May 21, 2010
Wharton professor Eric Clemons said he
believed Google’s reported $6.5 billion
profi t on sales of $23.7 billion last year
was “misleadingly low.” Said Clemons:
“My guess is that the real profi t margin
on search is about 70 percent.”
Are U.S. Shoppers Over Frugality?
Marketplace | May 20, 2010
Wharton professor Stephen Hoch commented
on whether Americans are starting
to spend more freely again. Said Hoch:
“It’s going to be a more measured consumer—even
the high-end consumer—
I think as we go forward, because
habits that change and then change
back take time.”
Can people actually 'own' virtual land?
CNN.com | May 10, 2010
Wharton professor Andrea Matwyshyn
commented on digital property rights,
explaining the legal issues involved
in virtual land ownership. “The law
is a slow-moving elephant, and technology
is a graceful gazelle,” she said. “And
it’s a mismatch.”
Greek Tragedy Unfolds
CFO Magazine | May 7, 2010
Wharton professors Richard Marston
and Mauro Guillen talked about the
global impact of the economic crisis in
Greece. “If the Europeans had acted decisively
at the very beginning,” Marston
said, “they could have snuff ed it out.”
'Not in my term of offi ce'
Washington Post | April 14, 2010
Wharton professor Michael Useem wrote
about how leaders can better prepare
for catastrophes. “Th e art of leadership
includes preparing for the unexpected,
and the value of leadership thus becomes
more important when the world
becomes more unpredictable. Leaders
face special challenges with respect
to low-probability, high-consequence
events: By defi nition, they occur rarely
and are especially diffi cult to predict.”
What is Naked Short Selling?
CNN Money | May 19, 2010
Wharton professor David Mutso commented
on “naked” short-selling. Said
Musto: “Essentially, you’re selling something
you don’t own.”
ON
THE
WEB
For more news visit
http://www.wharton.
upenn.edu/news.

WIMI Tackles the World Cup
The 2006 World Cup Final was
among the most-watched sporting
events in history, as an estimated
715 million viewers tuned in
to see Italy knock off France, 5-3, in a penalty
kick shootout.
The 2010 Cup Final, which was set to
play in early July, was expected to draw
even more viewers—and ESPN, which owns
the broadcast rights to this year’s tournament,
seemed intent on learning as much
as possible about the viewing habits of each
and every one of them.
This spring ESPN announced the
creation of ESPN XP, a new multipartner
research initiative through
which the network will study consumer
behavior tied to some of the biggest
events in sports—the 2010 World Cup
being the first. To study television
viewership of the tournament, ESPN
contracted with Nielsen Co., and to
look at branding issues, it brought in
marketing research firm the Keller
Fay Group. But when it came to Internet
and mobile technologies, “The
Worldwide Leader in Sports” turned
to a Wharton research initiative that
may well be termed “The Worldwide Leader
in Interactive Media.”
As one of the major components of ESPN
XP, ESPN turned all data gathered about its
mobile and Internet viewers during the fi rst
round of the World Cup over to the Wharton
Interactive Media Initiative (WIMI), which
moved quickly to analyze that data and then
report back to the network with a prediction
of how (and how many of) those same
viewers fi gure to consume the later rounds
of the tournament.
“This is obviously crucial information
for them,” explains WIMI co-director Eric
Bradlow, Wharton’s K.P. Chao Professor.
“This is how they make money—by selling
to advertisers.”
Glenn Enoch, Vice President of Integrated
Media Research for ESPN, says the network
is unique in that its brands cross basically
every single media platform—television
(through ESPN, ESPN2, ESPN U. and others),
radio (via ESPN radio and a family of
podcasts), Internet (through ESPN.com),
mobile (through ESPN Mobile) and print
(through ESPN The Magazine). As such,
ESPN execs have long been interested in
fi guring out whether its television viewers,
for example, are also heavy consumers of
its other products.
The problem, he says, is the network hasn’t
been able to fi nd a dataset that can give them
those answers.
“When we started looking at cross-media
data, we only had information about each
platform as silos,” Enoch explains. “What
we lacked was the ability to see how sports
fans were navigating from platform to platform.
We want to understand and encourage
that behavior. In other words, we want
viewers of the television network to also be
multi-platform users. It’s important to be
able to tell advertisers on each of these platforms,
‘Here’s why TV works, here’s why
radio works, and here’s why being a multiplatform
advertiser somehow adds up to
being more than just the sum of its parts.’”
The World Cup, and the partnership with
WIMI, presented ESPN with its fi rst opportunity
to be able to do just that.
Peter Fader, Wharton’s Frances and Pei-
Yuan Chia Professor and Bradlow’s fellow codirector,
notes that while other large media
companies have launched similar initiatives
in the past, the ESPN-WIMI partnership is
unique in that its goals are proactive. Rather
than gathering data about a past sporting
event, Fader says, WIMI will prepare
Debrief
ON
THE
WEB
For more infomation about WIMI and
its various research initiatives, visit
www.whartoninteractive.com
forecasts for a future event. The unique
structure of the World Cup—which takes
about a month to complete—helps make
that aim possible.
“NBC has looked back at the Olympics,
trying to fi gure out how many people
watched on television or via mobile or on
cable,” Fader says. “But NBC was looking
backward there, saying ‘Here’s who watched
the Olympics on our various platforms.’
We wondered, ‘Wouldn’t it be better to
say that before [the event] happens, so
you could plan accordingly and inform
your advertisers about it?’ We told ESPN,
‘Let’s do this proactively.’”
Coverage of the World Cup on ESPN
began on June 11, and the Cup fi nal was
set for July 11. But the conclusion of the
tournament isn’t likely to be the end of
ESPN XP. Already, ESPN has said that
it will expand the initiative to include its
coverage of both professional and college
football. And Enoch says he’d like to
see cross-media research fully integrated
into ESPN’s daily research work by 2012.
“Instead of just being a special project,
I’d like cross-media research to be something
we can do every day—something that
is part of our regular research initiatives,”
Enoch says. “We’re just getting started with
the World Cup.”
Bradlow and Fader, for their part, hope the
ESPN partnership—and the results of their
World Cup work—will show other media
companies how they stand to benefi t from
WIMI’s methods as well.
“At the end of the day, we believe this will
be a success if we can predict the last three
weeks of the tournament based on
the fi rst two weeks,” Bradlow explains. “If
we can do that, we’ll [be able] to go around
to other businesses and media companies
and tell them, ‘We did this for the World
Cup, and this is what we can do for your
site.’ It would be proof of concept that academic
forecasting algorithms have practical
value and can help answer real business
questions.” —T.H.
SUMMER 2010 | WHARTON MAGAZINE | 17

COMMENCEMENT 2010
‘Let’s Start Writing Our Stories’
It was a joyous event held during an uncertain
time. As Vice Dean Georgette Chapman
Phillips noted while greeting undergraduates
during the morning ceremony at Franklin
Field, this new generation of Wharton graduates
will enter the business world at a time
of great turmoil.
But with that turmoil, Phillips said, there
also comes opportunity.
“Let’s go back to 2006,” said Phillips, the
David B. Ford Professor of Real Estate. “Remember
when the dollar was strong, the housing
market peaked, and you began your time
at Wharton? Now how we view business and
business leaders is fundamentally diff erent.
The value system of corporate America continues
to be reshaped. The great news is that
with change comes opportunity.”
Freed from the expectations of the past,
Phillips said, Wharton students are increasingly
choosing less traditional paths. They
are starting their own businesses, teaching
or working for government and nonprofi ts.
“Focus on what you can contribute to society,”
Phillips said, “rather than the narrow
lens of monetary gain.”
The graduates seemed excited to do so, as
the Franklin Field mood was celebratory. Besides,
after four years of discussing the developing
fi nancial crisis, “today is not the day
for that,” said Shannon Dwyer, W’10, who
was selected to speak on behalf of her class.
Dwyer, who had a concentration in fi nance
and was named Wharton Woman of the Year
2 | WHARTON MAGAZINE | SUMMER 2010
Uncertain Financial Times Remain, but Wharton’s Newest
Graduates Seem Set on Changing the World for the Better.
Wharton observed its 126th graduation on May
16, conferring degrees to 606 undergraduates
and 950 MBAs, including 150 graduates of the
MBA Program for Executives.
for her involvement as Head Team Advisor
for Management 100, among other activities,
applied to speak at graduation at the
urging of her friends. Her selection capped
a remarkable four-year journey, Dwyer said.
“When I decided to come to Wharton, I was
told I was going from being a big fi sh in a
little pond to a little fi sh in a big pond,” she
said. “I’ve been amazed at how quickly this
pond got smaller.”
As the fi rst Wharton undergraduate class to
be organized by cohort, the Class of 2010 displayed
a strong sense of community throughout
their time at Wharton. “We get each other,”
Dwyer said. “We work hard and we’re
passionate about something. That’s what
brings us swimming in this pond together.”
In a new Commencement tradition, Wharton
undergraduates honored a faculty member
as speaker for the fi rst time. Philip Nichols,
Associate Professor of Legal Studies and
Business Ethics, who got to know many students
as faculty master of Stouff er College
House, was chosen for the honor. Nichols repeatedly
described the graduates before him
as “amazing,” pointing out that 10 applicants
vied for the seat in which each graduate was
sitting. Experiencing Wharton was a gift, he
said. “Use your gift to be as amazing in the
world as you’ve been at Penn. Lead where
you live, in ways that really matter, even if
no one notices.”
Beth Kaplan, W’80, WG’81, a member of
the Wharton Board of Overseers and the
BY KELLY ANDREWS
former Chair of the School’s Undergraduate
Executive Board, addressed the audience
on behalf of alumni. Alumni marshal
Alvin Shoemaker, W’60, HON’95, a Wharton
Overseer and Emeritus Penn Trustee,
passed the Wharton 2010 fl ag to Dwyer.
MARKING KEY MOMENTS
When the morning cloud-quilted skies cleared
to a sunny blue, MBA students turned up
the festivity; the 1 p.m. ceremony was energetic
and celebratory. As the new graduates
fi led in, the sight was that of an expanse of
black robes dotted with bright mylar balloons
and fl ower leis.
Said Dean Thomas S. Robertson: “You’ve
reached a key moment in life, and it’s terribly
important to get key moments right.
What you end up facing will be a lot of routine,
punctuated every so often by these
key moments.”
To make his point, Robertson recounted
the story of Captain Chesley Sullenberger,
who lived through 27,000 hours of mostly
routine fl ight time before the six minutes
that tested him—and ultimately defi ned his
career—in 2009. Everything that could go
wrong went wrong when US Airways Flight
1549 hit a fl ock of birds over New York, but
Sullenberger and his crew did everything
right to avert disaster. With both engines
disabled, Sullenberger successfully ditched
the plane in the Hudson River. All 155 passengers
survived.
“The key to effective leadership is the
ability to accurately assess the nature of
a crisis—and then do something about it,”
Robertson said. “That’s what key moments
are about.”
Robertson closed by recalling Joseph Whar-

ton’s guiding exhortation to create “pillars of
the state, whether in public or private life.”
“Go forth and do great things,” he said.
THE COIN OF THE REALM
Akihisa Shiozaki, WG’10, speaking as the
2009-2010 Wharton Graduate Association
president, told the story of an early graduate
who answered Wharton’s call—Shiro Shiba,
a displaced and defeated Japanese samurai
who, at the age of 32, became a member of
Wharton’s fi rst class back in 1884. Shiba went
on to enjoy a career in Japanese parliament.
“When we walk out the gates at Franklin
Field, let’s remember that we’re not the fi rst
to take the stony path,” he said. “The world
has been waiting for us long enough. Let’s
start writing our stories.”
The keynote speech was given by Robert
S. Kapito, W’79, co-founder, president
and director of BlackRock, Inc. Robertson
observed that BlackRock is one of the few
companies in its sector to emerge from the
fi nancial cyclone bigger and stronger than
ever. “That’s what happens when you get the
key moments right,” Robertson said.
“You desire more than just a job,” Kapito
told the graduates. “That’s why you came here
from every state in America, from Asia, from
Europe, from Latin America, and around the
world. You want to create something meaningful,
develop products and services, help
create jobs, reinvent stagnant businesses,
translate technology to manufacturing, create
clean energy and focus on global needs.
Most importantly, [you must] eliminate unethical
practices.”
Integrity, he said, “was the coin of the
realm in the midst of unpredictability—a
guiding principle.”
“The secret ingredient in your career plan
is to trust more than your brain,” Kapito continued.
“Trust your heart. Leading with your
heart will make everything around you fall
into place. The rest will become natural.”
LESSONS IN SELFLESSNESS
Salim Kassam, WG’10, who spoke on behalf
of the full-time MBAs, recounted how
Wharton had taught them all valuable lessons
in selfl essness.
“We succeeded in these two years because
we believed that someone else’s success was
just as important as our own,” he said, noting
that the all-for-one ethos reached far
off campus.
“Think about how much we’ve accomplished
in two years,” Hassam continued.
“After the earthquakes in Haiti and Chile,
we did more than give money. We rallied
students, alumni, faculty and administrators
to create a course which not only deployed
talented students to the disaster zone, but
will shape the way the world will respond
to disasters and crises in the future. We did
this while we were starting families, fi nding
jobs in an economic crisis, and handling the
challenging coursework at the best business
school in the world.”
Todd Gensler, WG’10, representing the
graduates of the MBA Program for Executives,
touched on a similar theme. “The
most valued aspects of our experience are
also the least expected,” he said. “We expected
Wharton to make us better professionals.
We didn’t know it would make us
better people.”
Gensler, who also served as co-chair for
the 2010 Class Gift, raised the issue of giving
back. “The responsibility for the stewardship
of the Wharton brand is now ours,”
he said. “We applied to the Wharton School
because of its reputation for excellence. Now
we have responsibility for that reputation.”
SUMMER 2010 | WHARTON MAGAZINE | 3

2010 MBA REUNION
Photos by Tommy Leonardi and Shira Yudkoff
Why Come Back?
It was a record-breaking year for the
Wharton MBA Reunion Weekend.
Nearly 1,700 alumni, family and
friends returned to campus in mid-May,
surpassing all previous attendance benchmarks
for Wharton’s biggest annual alumni event.
For three days, and from West Philadelphia to
Chester County, the 2010 Reunion attendees
reconnected with old friends, listened to and
learned from Wharton’s esteemed faculty, made
valuable business connections and, to put it
simply, had a wonderful time reliving their days
at Wharton. As anyone who has returned for
Reunion can attest, the event is well worth the
trip. Here, in a photographic look back
at our most recent Reunion event, we’ll show
you what makes the weekend so special—and
why you should consider coming back for your
next reunion.—T.H.
4 | WHARTON MAGAZINE | SUMMER 2010
With so many accomplished
Wharton alumni from so
many diff erent fi elds all
back on campus at one time,
Reunion Weekend provides
a tremendous networking
opportunity—an opportunity that
alumni are encouraged to seize.
As Wharton Alumni Association
Chairman Craig Enenstein,
G’95, WG’95, joked at the start
of this year’s event: “It is a
business school, aft er all.”

Access Your Network
SUMMER 2010 | WHARTON MAGAZINE | 5

6 | WHARTON MAGAZINE | SUMMER 2010
Learn Something
Th e Reunion Weekend experience is enriched by
presentations from some of Wharton’s most popular
and respected professors. Th is year, alumni packed the
Annenberg Center’s Zellerbach Th eater to hear Jeremy
Siegel, the esteemed Russell E. Palmer Professor of
Finance, off er his thoughts on the future of the world
economy. And yes, Siegel (author of Stocks for the Long
Run) still believes stocks are the answer.
2010 MBA REUNION

Reunion Weekend is not just for grown-ups—
future Wharton grads have their fun, too. From
family picnics to entertainment just for the
kids, the event is more family-friendly than ever.
Besides, it’s never too early to introduce your
kids to Wharton, right?
family events
Go Play
2010 MBA REUNION
SUMMER 2010 | WHARTON MAGAZINE | 7

Reconnect & Reunite
It’s ultimately what Reunion Weekend
is all about—seeing dear friends,
reuniting with classmates, rekindling
old relationships. “Reunion is always
a great opportunity,” says Marie
Williams, G’95, WG’95, who served
as a Class Ambassador for her class
(for more information on the Class
Ambassador program, see page 41).
“With those you knew well, you just pick
up where you left off . And with those you
didn’t, you get to know them better.”
8 | WHARTON MAGAZINE | SUMMER 2010
2010 MBA REUNION

ON
THE
WEB
Th e 2011 Wharton MBA Reunion
Weekend is scheduled for May
13-15 for classes with years ending
in 6 or 1. For more information, visit
wharton.upenn.edu/reunion/2011/
Reunion Weekend may be all about Wharton. But its events most
certainly aren’t limited to campus. In 2010, events and parties
were held not only across the city (the all-alumni mixer was held
at the beautiful National Constitution Center) but as far afi eld as
bucolic Chester County, as well, as the Class of 1990 held their
‘barn bash’ at the farm of Edward Cook, WG’90 WG’90.
Explore Philadelphia
2010 MBA REUNION
SUMMER 2010 | WHARTON MAGAZINE | 9

In
Moment of
Ever Wondered What It Takes to
Compete—and Win—in the Wharton
Business Plan Competition? We Sent a
Writer to Huntsman Hall to Find Out.
the weeks before
delivering
their presentations,
Ben Rhee,
WG’10, and his three teammates compiled
a list of questions they expected the judges
to ask them. They had been working on
their plan for months—researching the intricacies
of reimbursement strategies and
the antibiotic market and discussing their
ideas at weekly meetings in the makeshift
restaurant they’d discovered in the back of
an Indian grocery store on Chestnut Street.
But they knew that there was no way they
could anticipate every question the judges
would throw at them. The judges, all of
whom had been recruited from the highest
ranks of some of the country’s leading
26 | WHARTON MAGAZINE | SUMMER 2010
BY SAKI KNAFO PHOTOGRAPHS BY TOMMY LEONARDI
fi rms, had had plenty of time to pour over
the team’s 50-page business plan, and had
no doubt scoured it for mistakes and omissions.
There was a high probability that,
as Rhee later put it, he and his teammates
would be called upon to answer at least one
question they had not anticipated.
R2R Therapeutics—Resistance to Resistance—was
one of eight teams that reached
the finals of the Wharton Business Plan
Competition this year, and Rhee, 27, was
their leader. He spoke in soft, measured
tones and blinked emphatically—qualities
not normally associated with boardroom
leadership. But, in his case, they suggested
a quiet determination and seriousness
that served him well. Born in Hong Kong,
where his father was a self-employed trad-
er of electronic parts, he knew from an early
age what he most wanted was to be his own
boss. The Wharton competition potentially
represented a signifi cant step toward that
goal. At stake were $75,000 in cash and inkind
services for the three winning teams,
and just as importantly, a shiny badge of
prestige, all of which would go a long way
toward helping the eventual winners separate
potential investors from their money.
Of course, successful leadership depends
not just on the leader’s abilities but also on
those of the people around him. So, even before
he settled on a specifi c business idea,
Rhee enlisted as a teammate fellow Wharton
student Vishwas Sheshadri, WG’10. At 34,
Sheshadri was the team elder, and he projected
the sort of outward confi dence one might
have expected to see in Rhee. If Rhee was
careful and compact, Sheshadri was excited
and expansive. He sang lead in a traditional
Indian music group, and moved around
with the upright, chest-out gait of a peacock.
Sheshadri and Rhee met last year at Wharton,
but they didn’t really get to know each
other until the summer, when they interned
at the same pharmaceutical company in New
Jersey. After work, they would hit the tennis
courts (“We were both pretty bad,” Rhee ad-

Truth
mitted) and then the local Taco Bell, where
Sheshadri, a vegetarian, would order the
cheese quesadilla and hold forth about molecular
structures. It was a subject he knew
a lot about: He had worked for years as a
high-ranking manager at an Indian drug
company, and he had a Ph.D. in microbiology
and immunology.
Two other Wharton students, the auspiciously
named Payman Roghani, WG’10, a
physician from Iran, and Christine Chen,
WG’10, a former marketing consultant from
New Jersey, rounded out the group. Chen
was the team’s resident expert in pricing
and reimbursement as well as its hypeperson—the
wisecracking extrovert who
could be counted on to kick up the energy
when it was fl agging.
The morning of the competition, Rhee,
Sheshadri, Chen and Roghani gathered in
a classroom in Huntsman Hall, just down
the hall from the auditorium where in a little
over an hour they would stand and be
judged. The men had on dark suits and red
ties—they looked, as Chen pointed out, like
a doo-wop group—and there was some discussion
over whether they should wear their
jackets buttoned or open (fi nal verdict: buttoned).
Occasionally, a member of another
Th e R2R Th erapeutics team
(from left to right): Paymen
Roghini, Christine Chen, Vishwas
Sheshadri and Ben Rhee.
team would walk over from another part of
the room and engage Rhee and his comrades
in a bit of good-natured trash-talking. “Interim
CEO?” said a guy named Greg, pointing
to the label on Rhee’s jacket. Greg’s own
label simply said CEO, and he seemed to be
suggesting that Rhee’s insistence on accuracy
betrayed a lack of confi dence.
“We have nothing to hide,” Rhee replied.
“If you have nothing to show, you have
nothing to hide,” Greg fi red back. But Rhee
did have something to show, and a half-hour
later, he and his teammates rose and made
their way to the auditorium.
A TRAGEDY AVERTED
R2R Therapeutics was one of about 150 student
teams who entered Wharton’s businessplan
competition this year. Only eight teams
made it to the fi nals. By the time they got
there, they had each spent up to a year on
their plans. They had found a product, researched
its market potential, built a case
against the competition, and drawn up fi -
nancial and operational blueprints for their
proposed companies, all while shouldering
the weight of a full course load. Over the
past few years, business plan competitions
have multiplied and matured, attracting
attention from a growing number of venture
capitalists, and as a result, the seriousness
and professionalism of the entrants have
increased as well. Wharton’s competition is
one of the most prestigious in the country.
Sitting in the hall as the contestants paraded
across the stage, you could almost forget
that the Dow had fallen 213 points the
day before, its biggest loss in nearly three
months. If there was any hope for American
businesses, chances were that some of
it could be found here, in Huntsman Hall.
The product on which Rhee and his teammates
had pinned their own hopes was a molecule—a
pre-clinical drug that they believed
to be capable of fi ghting the antibiotic-resistant
“superbugs” that have swept through
the country’s hospital wards for almost a
decade, killing tens of thousands each year.
Unlike other antibacterial drugs, which target
proteins, DNA and RNA—materials that
mutate frequently, generating drug-resistant
strains—this drug attacked a molecule
on the cell membrane that had not changed
in millions of years and thus seemed unlikely
to change in the future. Rhee had learned
about it almost a year before, when he volunteered
to a help the Penn scientists who
had invented it to apply for a grant. His be-
SUMMER 2010 | WHARTON MAGAZINE | 27

lief in its potential, though, or at least his
enthusiasm for finding an antibiotic that
could overcome drug resistance, stemmed
from an earlier “nearly tragic” experience.
In June 2008, one month before Rhee enrolled
at Wharton, his wife, Lauren, woke
up complaining of pain. She’d had her wisdom
teeth removed the day before, but this
wasn’t the kind of pain you usually get from
dental surgery. “I still remember that it was
Friday, June 13,” Rhee told me, with a terse,
ironic laugh. “She was nauseous and she
couldn’t keep anything down. That night,
we were about to go to sleep—lights out—
and my wife turns to me and says, ‘Ben,
Cortical Concepts
Takes Top Prize
Doctors may soon have another weapon to
use in their battle against osteoporosis.
Th e Cortical Concepts team—Stephanie
Huang, M’13, Jason Hsu, Christopher
Komanski, Evan Luxon and Nicolas
Martinez—won the $20,000 Michelson
Grand Prize at the Wharton Business Plan
Competition for their “Cortical Anchor,” a
new device, similar to a drywall anchor, that
can be used to anchor bone screws in spinal
surgery. Th e team says the Cortical Anchor
will increase the long-term health and well
being of the nearly 10 million people battling
osteoporosis.
In the months leading up to the
competition, the Cortical Concepts team
completed a small-scale pre-clinical trial
with human cadaveric spine, did mechanical
testing and fi nished four rounds of beta
prototyping. Th e team also fi led for a
provisional patent and raised $40,000 in
grant funding.
Th e other winners in the 2010 Wharton
Business Plan Competition were:
• Second Prize ($10,000) went to NanoLab,
a calculator-sized device that can perform
accurate diagnostic tests at point of care.
• Th ird Prize ($5,000) went to R2R
Th erapeutics.
• Th e Gloeckner Undergraduate Award
($5,000), awarded to the highest ranking
Wharton undergraduate team, went
to PowerFlower Solar, which aims to
design and manufacture solar devices for
deployment on agricultural land.
• Th e People’s Choice Award: ($3,000) to
Kembrel.com, a private sales club for
students that off ers discounted brand-name
products.
• Th e Committee Prize (Social Category) went
to Ecoclutch, a retailer of eco-friendly and
reusable products.
• Th e Committee Prize (Global Category) went
to Hector, a nutrient rich “PowerWater”
drink in an innovative pouch designed for
emerging markets.
• Th e Committee Prize (Committee’s Choice
Category) went to PowerFlower Solar.
28 | WHARTON MAGAZINE | SUMMER 2010
we’ve done so much, we’ve added all these
medicines, but nothing’s helping and I don’t
know what to do.’”
“My wife is a very tenacious woman,” he
continued, “she’s fi nishing her Ph.D. in physics,
and it sounded to me like she was giving
up. I said, ‘Lauren, we’re going to the hospital
right now,’ and once we got to the ER the
head nurse saw me dragging her in and said,
‘Don’t sit down, go straight to the back.’”
“My wife was crashing. Her head and
throat were swollen. The staff did a great job
of getting a ventilator tube into her throat,
but she was in the ICU for three weeks and
had multiple surgeries. She had to learn how
to walk again because her muscles had atrophied.
One of the nurses in the ER told me
if I’d brought her in 10 to 20 minutes later
she would have been dead.”
Lauren had contracted necrotizing fasciitis,
a rare “fl esh-eating” disease, to use the
common journalistic term. The disease gives
off toxins that destroy soft tissues in the
body, causing the skin and muscle to blister
and decay. Unchecked, it can quickly spread
into the blood, sending the body into septic
shock. Many diff erent kinds of bacteria can
cause it. In Lauren’s case, a deadly strain of
streptococcus was responsible, which she’d
presumably picked up at the dentist’s offi ce.
As her health improved, Rhee began thinking
about “how to combat this thing,” and it
was at that the point that he learned of the
huge demand for “superbug” drugs. This
was not the fi rst time, however, that he’d
thought about starting a biotech business.
At the Pennsylvania prep school he attended,
he and three friends would sit around their
dorm rooms talking about their dreams of
rising to the top of the biotech industry the
way other kids talk about becoming rock
stars. (In the late ’90s, as he pointed out
to me, biotech was “pretty hot”—as it is today.)
As an undergraduate at Swarthmore,
he studied biology and economics, and after
graduating he worked as a management
consultant in the pharmaceutical industry.
So Lauren’s illness didn’t set him on a new
course so much as it sharpened his vision.
And it provided him with a compelling narrative
around which he and his team could
build their case for victory.
THE PITCH
In the hallway outside the auditorium, while
waiting for the cue to go on, Sheshadri cheerfully
announced to his teammates that they
had already won. He had decided several
weeks earlier that R2R was destined for
greatness, and now, with the critical moment
looming, and everyone’s nerves jangling, he
simply wanted to assure them that the possibility
of failure had already been ruled out.
Rhee, for his part, was feeling “a little more
cautious”—not quite ready to join his teammate
in declaring their mission accomplished.
A student volunteer ushered the team
into the auditorium, and Rhee took the microphone
and greeted the judges, students,
spouses and parents, who were spread out
in the stadium seating above them. How do
you bring an early-phase biotech product
to market? That, in essence, was the question
that the team had set out to answer in
their plan, and while Sheshadri, Chen and
Roghani stood silently, hands by their sides,
expressions serious, Rhee did his best to relate
what they had learned.
In short, they would fi rst raise $2 million
for in vitro tests, followed by an additional
$3.5 million for animal studies. Then they’d
apply for the FDA certifi cation that would allow
them to test the drug on humans. Those
tests would cost another $13.5 million. If at
that point the drug achieved “proof of concept,”
they would attempt “to be acquired”
by a major pharmaceutical company, whose
scientists would complete the remaining human
trials necessary for getting the drug approved.
Through their research, they had determined
that their drug had the potential
“to be priced at parity or with a modest premium
to the newest antibacterials,” and so
they estimated that “big pharma” would buy
them out for between $75 and $120 million.
But was that enough? Even if they hit the
$120 million mark, only about half the proceeds
would go back to the investors, which
meant that late backers of the project could
hope to triple their bets at most—not nearly
enough considering the inherent risks of
gambling on a drug that had yet to be tested
on people. In the question-and-answer period,
one of the judges asked them what they
planned to do about this problem. This, as
it turns out, was the inevitable question for
which they had not prepared.
Days before, they had agreed that Chen, the
marketing expert, would answer all questions
about fi nancial projections, and so Sheshadri,
who was holding the microphone, made a
move in her direction, but Rhee stopped him.
“I’ll take it,” he said. Later, when asked what
was running through his mind at that moment,
he said, “If we don’t answer this correctly,
we’re done.” It had occurred to him

that he was the only person on the team with
any inkling of how to do that, and as it turns
out, he was right. Looking up at the judges,
he explained that even after the company
was sold, investors would continue to receive
payments totaling up to $300 million
as the product made its way through further
rounds of testing. Of course, there was no
guarantee that the drug would reach those
“milestones,” let alone pass them, which was
why Rhee had decided against mentioning
them in his speech, but now was clearly not
the time for caution.
As they left the stage, a professor congratulated
them, specifi cally commending
them on their decision not to use “the picture.”
“The picture” was a photograph Lauren’s
mother had taken of Lauren the day
she arrived in the ER. It was a horrifying
image—her head swollen almost to the size
of a basketball—and the team had wrestled
with the question of whether to include it in
the presentation right up until the night before.
“Our friends liked the idea,” Sheshadri
told me later. “However, when we ran it past
our communications professors, they said it
could work against you because it could at-
tack the emotional jugular. Finally, we decided
to play it safe.”
THE WINNER IS …
For an outsider, a business plan competition
is a strange thing to contemplate—its logic
is closed, its form cyclical. Contestants
are awarded money for demonstrating that
they can make money. He who proves himself
most likely to win, wins.
R2R didn’t win. Or maybe they did. It depends
on your perspective. They placed third,
behind the runners-up from team Nano-
Lab and the Michelson Grand Prize Winners
from team Cortical Concepts (see sidebar).
For their third-place fi nish, R2R received
a plaque, $10,000 in in-kind services, and
$5,000 in cash—more than enough money,
as Chen observed, for massages in Vegas.
Roghani, who had joined Sheshadri earlier
in guaranteeing victory, noted that he hadn’t
specifi ed fi rst place. And Sheshadri immediately
found a way to spin the ambiguous
outcome as a historical achievement. “We
are the fi rst team ever to win in the Wharton
B-plan competition for a health care molecule,”
he told me.
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Orientation for Fall of 2010 will be held August 17–22.
Rhee was clearly disappointed, and admitted
as much over the phone a few days
later. Yet the experience, he said, had been
“one of, if not the highlight, of our Wharton
careers. While I would say we were acquaintances
before, this experience has made us
very solid friends. And the learning that we
gained from each other was incredible.”
It also looked like they might get an important
meeting out of it.
A group of venture capitalists, he said,
had expressed interest in R2R after learning
about them through a competition brochure
that a Wharton student had sent them.
They had emailed the team a list of questions,
including one that was very close to
the question that had caught them by surprise
at the contest. Rhee wasn’t about to
email back an answer. The goal was to get
in the room with them.
But if the question comes up in conversation,
he’ll be prepared.
Saki Knafo is a regular contributor to the New
York Times. This is his fi rst piece for Wharton
Magazine.
An MSE from
Co-sponsored by
Visit WWW.EMTM.UPENN.EDU
Or call 215-898-2987 (world-wide)
emtm-admissions@emtm.upenn.edu

Wharton Leader
Denis Benchimol Minev, WG’03
Denis Benchimol Minev, WG’03,
was one of the few people who actually
got what he wanted at the
Copenhagen Climate Conference
last December.
Minev attended the event as Secretary of
Planning and Economic Development for
the Brazilian state of Amazonas, where he
recently spent three years seeking a sustainable
balance between economic growth and
forest preservation. His attendance was one
of his last offi cial acts before leaving public
service to rejoin his family’s retail and energy
businesses. (His family owns Sociedade
Fogás and Lojas Bemol in Manaus)
Hopes ran high for the conference. With
the Kyoto Protocol set to expire in 2012, time
was running out for world leaders to begin
implementing a new international agreement
on reducing carbon emissions.
Two weeks of divisive talks ended with little
accomplished … except one thing. Participants
acknowledged that developed countries
should provide fi nancial incentives to
developing tropical countries to reduce deforestation—a
policy that delegates from Brazil
and Amazonas had been advocating since the
Bali climate conference in 2007. The Copenhagen
event marked the fi rst time there was
global agreement to fi nance forest preservation
as a strategy to combat climate change.
“Despite global failure of negotiations, forests
and REDD [Reductions in Emissions
from Deforestation and forest Degradation]
took a primary role and became the only point
of agreement,” said Minev, 33. “Copenhagen
was bad, in that nobody committed to anything,
but for us, it was good.”
True to their word, developed nations in
May pledged $4 billion to launch a new program—REDD
Plus.
During his time in government, Minev presided
over a major philosophical shift in how
the state stewards its land, which is 98 percent
virgin rainforest.
Major arteries of the Amazon River fl ow
through the sparsely populated region twice
the size of Texas, feeding a dense ecosystem
that represents 20 percent of the world’s
tropical rainforests. Scientists have estimated
that ending deforestation will do more to
30 | WHARTON MAGAZINE | SUMMER 2010
limit carbon in the atmosphere than eliminating
all of the world’s cars, planes and
ships put together.
Minev and Eduardo Braga, the governor
of Amazonas who invited Minev into government
in 2007, worked to bring the state’s
rate of deforestation to virtually zero. Since
2002, annual deforestation has declined 75
percent. During a speech at Copenhagen,
Governor Braga announced that now just
0.03 percent of the state’s land, or 400 square
kilometers, is lost to farming each year. The
bottom line? New industries seeking to clear
land are no longer welcome in Amazonas.
“We made it the formal policy that unless
it’s on already deforested land—which is two
percent of the state—that’s not something
we want in Amazonas,” said Minev.
Of course, remaking Amazonas into a green
brand meant learning to say no, he said.
“This goes straight back to Wharton,” said
Minev, who fi nished his MBA at Wharton in
2003. “I remember from strategy class that
the heart of strategy is being able to tell what
you’re not going to do. Telling what you’re
going to do is easy but telling what you’re
not going to do—like when you’re going to
say no to your customer—is much harder.
There has historically been a lot of cattle
breeding in the state, but if a new investor
came in today and said ‘I want to bring my
cattle into Amazonas’, the answer is, ‘If you
can fi nd a place that has already been deforested,
fi ne, but if you want to take them
to a new place we won’t grant your license.’”
The state also pays households and communities
“forest conservation grants” to discourage
them from clearing more of their land.
“We want to be the best preserved state
in Brazil,” said Minev.
Now the focus is on attracting industries
that leave the rainforest intact. Amazonas
eliminated all taxes on cosmetics that use
forest-produced products and subsidized the
startup of a rubber industry to make tires
for automobile companies. It made bidding
documents and state payments public for
transparency.
Minev also took steps to improve government
effi ciency, using more lessons from
Wharton. Within his offi ce, he dramatically
reduced the amount of time it takes to open
a new business and automated the system
of awarding incentives by implementing
ISO 9000 quality management standards
borrowed from business. These standards
were also put in place in fi ve other state institutions,
with 15 more to come. For the
fi rst time, the government was able to track
5,000 points of data relating to effi ciency
in areas like public safety, law enforcement
and hospital care. “You can only manage
something you can measure,” Minev said.
“You learn that in pretty much every class
in Wharton—you need to know the numbers
and be quantitative. This was part of the culture
I tried to bring into the government.”
Still up in the air, however, is how Amazonas
will fund its conservation eff orts.
Norway pledged $1 billion over ten years to
Brazil for forest conservation. Other countries
have promised a few billion more, though the
actual money has yet to be seen. Amazonas
created a foundation, Fundação Amazonas
Sustentável, that has raised about $30 million
from sources such as Coca-Cola, Banco
Bradesco and Marriott.
It’s a start, says Minev, but it’s not nearly
enough.
“McKinsey estimated it would take $30
billion per year to eliminate deforestation
in the world,” he said. “I think that number
is about right.”
Though state economic growth has been
a healthy seven percent during Minev’s tenure,
he said growth could have been higher
had the state ignored conservation.
“I can tell you with certainty that we could
have achieved short-term higher rates of
growth had we opened up the forest to palm
oil,” he said. “We see there’s an international
value in preserving the forest, but we expect
the world to share in the cost, which
is signifi cant in terms of opportunity cost.”
—Sonja Sherwood

KIM: ‘There is much to be done’
Two of Wharton’s most esteemed alumni—Bong-
Suh Lee, W’59, and James Joo-Jin Kim, W’59, G’61, Gr’63—were
awarded the Dean’s Medal, Wharton’s highest honor, during the
Wharton Global Alumni Forum in Seoul in May.
Kim is Executive Chairman of Amkor Technology, Inc., one of
the world’s largest suppliers of semiconductor assembly and test
services, and has served on the Wharton Executive Board for Asia
since 1997. He is also an emeritus trustee of Penn.
Lee has held various positions in the South Korean government,
including Secretary to the Prime Minister (1973-1978), Vice Minister
of Energy and Resources (1983-1988) and Minister of Trade
and Industry (1990-1991). He has also served as Vice President at
Asian Development Bank (1991-1998) and in 1998 was appointed
Chairman of the Danam Corporation. He formerly served as a
member of the Wharton Executive Board for Asia.
Wharton’s Global Alumni Forums are now in their 17th year, and
the Seoul event was another success: It drew nearly 400 attendees
from around the world to South Korea’s beautiful capital city.
During his acceptance speech, Kim marveled at how far his native
country had come. Excerpted here is some of what Kim had
to say. — T.H.
“[When I came to Wharton] both parts of the
Korean peninsula had been ravaged by the war,
and you cannot begin to imagine how grim the
outlook was for all Koreans. We were desperately
poor, and our nation was in shambles.
We survived, we persevered and then we prospered.
Now Korea is a developed, wealthy society.
How did we go from a poor, under-developed society to a modern,
high-tech nation? Part of the answer lies at the intersection of Korea
with my other great passion—namely, the University of Pennsylvania.
Penn has educated many Koreans in business, in medicine,
in architecture and other disciplines. These Penn-educated
Koreans, like myself, started their careers
in the United States, but have increasingly
returned home to help build the foundation
of a prosperous and stable democracy.
“Koreans today represent the third-largest
source of foreign students in the Wharton
MBA program, trailing only China and
India. Penn has played a pivotal role in the
development of Korea over the 51 years in
which I have had the privilege of being an
alumnus of this great institution. While
Penn has been training so many of Korea’s
past, present and future leaders, the
University has also been building its infrastructure
to train others about Korea, especially
the Korean language. I think this
is critically important, because it is quite
Next year, Wharton will convene top academic,
civic, business and nonprofi t leaders—and
our outstanding international alumni network—
at a single Global Alumni Forum, to be held in
San Francisco.
Th e 2011 Global Alumni Forum, set for June
23–24, will coincide with the 10th Anniversary
of Wharton | San Francisco, our West Coast campus
and home to a thriving MBA Program for Executives.
We are delighted to bring the Forum to
this truly global city, one of the United States’
most exciting hubs of innovation, and we hope
that you will join in the celebration.
Global Alumni Forums
Bong-Suh Lee, W’59, and James Joo-Jin Kim, W’59, G’61, Gr’63, with
Dean Th omas S. Robertson.
diffi cult for a nation to be recognized and appreciated unless people
from other countries know about it. In addition, with so many
Americans being of Korean descent, there is a need for Korean language
and history programs to allow the diaspora to retain an interest
and respect for the country of their ancestry. Where do we go
from here? Well, there is certainly much to be done. With so many
Koreans training every year at Wharton, Penn is educating a generation—much
larger than the few who joined
me in the 1950s—of corporate executives
with the linguistic, cultural and business
skills to expand the breadth and depth of
Korean business worldwide. I fully support
this new generation, and invite them
to do better … to learn from our mistakes
and to [make] the world a more peaceful
and prosperous place. Just as Wharton assisted
me and others… it is time for us to
ensure that others can have the same opportunity
that we had. I urge you, especially
those who have become leaders in
your profession, to participate in the efforts
of Wharton to educate the leaders of
the next generation.”
SUMMER 2010 | WHARTON MAGAZINE | 31

Wharton Leader
Thuy Dam, WG’96
During Vietnam’s long transition
from a planned economy to a burgeoning
market economy, Thuy
Dam, WG’96, has often found
herself at the leading edge of change in the
country.
A few years after graduating from the
University of Hanoi in 1985, Dam and four
friends launched a consulting fi rm to advise
foreign companies on entering the Vietnamese
market. The country had just decided to
allow foreign investment, and the new fi rm,
InvestConsult, was Vietnam’s fi rst privately-owned
company. It would provide crucial
help to some of the world’s largest companies,
which were trying to gain a foothold
in the country.
Two decades later, after getting her Wharton
MBA and becoming established as an international
banking executive, Dam returned
to Vietnam to head the Australia-New Zealand
(ANZ) Banking Group’s Vietnam operation.
Under Dam’s leadership, ANZ won
a government license to operate as a local
bank and launched a dramatic expansion,
growing from two branches to 12, boosting
staff from 100 to 700, and quadrupling revenue.
ANZ brought change to Vietnam’s fi -
nancial sector, introducing Internet banking,
credit cards and new fi nancing options
for local businesses.
“I like building things,” says Dam, 49. “I’m
probably not very good at being a caretaker.
I get bored very quickly.”
Dam has been with ANZ, the third largest
bank in Australia and one of the leading
banks in Asia, since leaving Wharton, which
she attended as a Fulbright Scholar. Like
many of her classmates in the mid-1990s,
Dam planned to work on Wall Street, but
her scholarship required her to work outside
of the United States for two years after
graduation. Melbourne-based ANZ hired
her to help guide the investment bank’s expansion
in Asia from a recently-opened offi
ce in Singapore.
“I always had an intention of staying for
two years and then going back to the States
to work,” she recalls. “But I can say now that
32 | WHARTON MAGAZINE | SUMMER 2010
one should never plan anything in life. I ended
up spending 10 years in Singapore and
really enjoyed it.”
In 2005, ANZ assigned Dam, a native of
Hanoi, to head the Vietnam headquarters in
the city. In Vietnam and other countries without
a well-established banking sector, foreign
banks usually bring in executives from the
home offi ce to run local banks. Dam was one
of the fi rst Vietnamese to head any foreign
bank in the country. And when she arrived,
she didn’t know what to expect.
“Being away for a long time, I thought
going back in a new job would be diffi cult,”
she recalls. “But I landed in Hanoi around
lunchtime, and by late afternoon, I didn’t
feel like I was starting anything new. It all
seemed so familiar.”
A young child in the 1960s, Dam was living
in Hanoi during the diffi cult times of the
Vietnam War. Her father was a college professor
in chemistry and physics; her mother,
a biologist at the Pasteur Institute. To
“Being in this country and being
Vietnamese,” Dam says, “I have
to be optimistic about the future
of this country and this market.”
protect children, the North Vietnamese government
split up families, sending children
to the countryside where they would be less
vulnerable to attacks. Adults also were separated
so that families would not be wiped
out in a single raid.
“My father was in one province. My mother
was in another,” Dam recalls. “My grandparents
stayed in Hanoi because they were
very old and didn’t want to move. My brother
and I were together in another province.”
She says the experience instilled a sense of
independence. She remembers living among
30 or 40 children, cared for by a couple of
adults. “They cooked for us, and we just
looked after ourselves. I don’t know how we
did it, but we managed.”
After college, she worked for nearly two
years for Vietnam’s patent offi ce before deciding
she needed a change. This was the
mid-1980s, and the war had been over for
a decade. East-West relations were thawcontinued
on page 36

New isn’t always better.
After all, it is said that up to 80
percent of all new products fail.
Which begs the question: What is it specifi
cally about the design, strategy and utility
of those other products—the ones that
do succeed? What sets the 20 percent apart
from the 80 percent?
According to award-winning industrial designer
Ravi Sawhney and business strategist
Deepa Prahalad, the answer isn’t just design,
but rather design combined with strategy.
In Predictable Magic: Unleash the Power of
Design Strategy to Transform Your Business,
Sawhney and Prahalad make the case that
the creators of super-successful products often
fi nd a way to seamlessly integrate corporate
strategy with design.
In other words, they don’t deliver utilitarian
objects: They craft rewarding, empowering
experiences.
To outsiders, this looks like magic: incomprehensible
and impossible to reproduce. But
it isn’t, the authors say, and in Predictable
Magic they present the complete design process
for making the “magic” happen—over
and over again. Sawhney and Prahalad introduce
“Psycho-Aesthetics,” a breakthrough
approach for systematically creating deep
emotional connections between consumers
and brands.
Step by step, Predictable Magic will teach
you everything you need to know to make
Psycho-Aesthetics work, from research to
strategy, implementation to consumer experience.
You’ll also see it at work in case
studies from some of the world’s top companies,
including Medtronic and Amana, as
well as innovative start-ups.
Wharton School Publishing
The Diff erence in
(Great) Design
When it Comes to Super-successful
Products, Design Matters—But Only
When Paired With Sound Strategy
Financing the Future:
Market-Based
Innovations for Growth
By B Franklin Allen
and a Glenn Yago
Financial F innovation has
done d a lot of good for the
world. w
Starting with the use of
credit c in Assyria and Babylon
over 3,000 years ago and development
of the bill of exchange in the 14th century,
fi nancial innovation has driven social, economic
and environmental change worldwide,
transforming ideas into new technologies,
industries and jobs.
Yet when fi nancial resources are misunderstood
or mismanaged—as they were most
recently during the events leading up to the
current fi nancial crisis—the consequences
can be severe.
In Financing the Future: Market-Based
Innovations for Growth, two leading experts—Franklin
Allen, Wharton’s Nippon
Life Professor of Finance and Professor of
Economics, and Glenn Yago, Director of Capital
Studies at the Milken Institute—explain
how sophisticated capital structures can enable
companies and individuals to raise funding
in larger amounts for longer terms and
at lower cost, thereby accomplishing tasks
that would otherwise be impossible.
The authors recount the history and basic
principles of fi nancial innovation, showing
how new instruments have evolved—as well
as how they have been both used and mis-
What's New At . . .
Remembering C.K. Prahalad
Th e business world lost a prophetic and creative
thinker with the death of C.K. Prahalad
on April 16.
Prahalad was an internationally respected
consultant and professor at the University of
Michigan’s Ross School of Business, where he
was known for his writings on corporate strategy.
In 2004, Prahalad garnered widespread
acclaim for his groundbreaking book Th e Fortune
at the Bottom of the Pyramid: Eradicating
Poverty Th rough Profi ts, which was one of the
fi rst books ever printed by the then-brand new
Wharton School Publishing house.
The Fortune at the Bottom of the Pyramid
made the case that private investment, not
charity, would lead to expanding opportunities
in struggling markets around the world. It
was named the best business book of 2004
by the editors of Amazon.com and remains
one of Wharton’s best sellers, with approximately
200,000 copies sold worldwide. Th e
Fortune at the Bottom of the Pyramid is widely
credited with helping jumpstart the “social
impact” movement. Wharton School Publishing
released a fi ft h-anniversary edition of the
book last year.
Earlier this spring, Dean Thomas
S. Robertson called Prahalad’s ideas
“masterful and infl uential.”
“When we bring business solutions to social
problems we are following his advice,” Robertson
wrote. “When we resolve to ‘do well by
doing good’ we are echoing his call. Now it is
up to us to carry on his ideas.”
used. In this important and highly readable
book, Allen and Yago thoroughly demystify
complex capital structures, off ering a practical
toolbox for entrepreneurs, corporate
executives and policymakers.
Financing the Future presents clear, thorough
discussions of the current role of fi -
nancial innovation in capitalizing businesses,
industries, breakthrough technologies,
housing solutions, medical treatments and
environmental projects. It also presents a
full chapter of lessons learned: essential insights
for stabilizing the economy and avoiding
pitfalls.
ON
THE
WEB
For more books visit:
http://www.whartonsp.com
SUMMER 2010 | WHARTON MAGAZINE | 33

JON REINFURT
Research
Published April 14, 2010 in Knowledge@Wharton
Passion vs. Profi ts:
Microfi nance’s Talent Wars
34 | WHARTON MAGAZINE | SUMMER 2010
Employment in the microfi nance
industry is at a crossroads. When
microfi nance began, its scope was
simple: Charitable, donor-driven
organizations with a mission to
eliminate poverty gave out very small business
loans to help the world’s poor. Big
banks—deeming the double- and triple-digit
loans too small to be profi table—didn’t
get involved.
Today, after three decades of rapid growth,
the microfi nance industry has become both
more crowded and more complex. The Microfi
nance Information eXchange reports
1,200 microfi nance institutions (MFIs) with
64 million borrowers and 33.5 million savers,
and those numbers are growing at 25%
a year. Big banks, realizing there is money
to be made at the bottom of the pyramid,
are now entering microfi nance markets that
were once solely the territory of philanthropies.
Commercial investors, too, are seeing
profi ts. And microfi nance institutions are
scrambling not to lose ground.
“I feel like we’re seeing a lot of polarization
as this industry grows up,” said Elizabeth
Lynch, manager of the Center for Microfi -
nance Leadership at Women’s World Banking.
“Now it’s the NGO [non-governmental
organization] versus the bank, the social investor
versus the commercial investor. Microfi
nance encompasses so much that there
naturally seems to be a tug of war.”
The tug of war is most recently playing
out in microfi nance’s human resources departments.
As a greater number of for-profi t
microfi nance institutions enter the market,
more established MFIs worry that banks are
poaching their best employees. At the same
time, traditional MFIs need to attract banking
talent at the managerial level to tackle
the more sophisticated fi nancial services
they must off er to survive.
“Field offi cers are probably the most valued
commodity in microfi nance,” Lynch noted.
“So if banks are looking to go into retail
microfi nance, there is the issue of banks
poaching loan offi cers and branch managers
because they bring the on-the-ground expertise
that these banks desperately need.” The
fl ow goes in the other direction at the managerial
level when microfi nance institutions
seek to expand their portfolio of services,
Lynch added. “A lot of activities such as treasury
management, risk management, fi nancial
management—they wouldn’t have neces-

sarily had these skills in-house as an NGO.”
Industry veterans worry that the new infl ux
of banking talent and the increasing focus
on banking services could jeopardize microfi
nance’s original mission to help the poor.
“It’s causing tension in the fi eld,” stated
Monica McGrath, adjunct assistant professor
at Wharton’s Aresty Institute of Executive
Education, who recently wrote a needs
assessment for the microfi nance industry
with colleague Dana Kaminstein. In many
countries, microfi nance institutions are transitioning
from their status as non-governmental
organizations to regulated fi nancial
institutions in order to make their business
model more sustainable, she added. By becoming
regulated, an MFI can take deposits,
reducing its dependence on donations and
increasing its access to capital. “The talent
and succession issue is important because
as these institutions off er new services, they
have to increase the level of professionalism
in their organizations. There is a very strong
case to be made that if we over-commercialize,
we’re going to be serving the wrong people
or emphasizing the wrong result.”
The talent discussion heated up recently
at the Aresty Institute of Executive Education,
where about two dozen microfi nance
leaders from around the world gathered
for the Women’s World Banking Advanced
Leadership Workshop. Some participants lamented
the loss of well-groomed talent to
big banks, while others maintained that the
microfi nance industry would continue to attract
talent because it off ered benefi ts that
banks cannot. A number of participants told
stories of leaving banks to work at microfi -
nance institutions, while others talked about
moving in the opposite direction.
The program was off ered by the Center
for Microfi nance Leadership, which Women’s
World Banking launched last year in
part as a response to the 2008 “Microfinance
Banana Skins Report.” The annual
survey of the microfi nance industry found
that management quality topped the list of
concerns among microfi nance institutions.
“Many recognized the need to develop leadership
and management capacity in the industry,”
Lynch said. Studies show that only
about one-fi fth of the developing world population
has access to formal fi nancial services,
and the need continues to grow. “There
is such an enormous potential market for
these fi nancial services, and the concern was
that the institutions are growing so rapidly
that the development of this talent is not
taking place.”
Increasing managerial skills and talent in
the microfi nance industry has become even
more important in the global economic recession.
The most recent 2009 Banana Skins
report, written by David Lascelles and Sam
Mendelson at The Centre for the Study of Financial
Innovation, found that management
quality fell to No. 4 as more fi nancial worries,
such as credit risk and liquidity, moved
up. “The emergence of credit risk as the top
[concern] in this survey is the clearest indicator
of the dramatic new challenges that
face the microfi nance industry in these turbulent
times,” the report read. “In the past,
credit risk (the risk of loss when loans are
not repaid) was seen as a minor problem in
a business whose typical customers had an
excellent repayment record. (In our 2008
survey it was ranked No. 10.) But not any
more. A combination of stressful economic
conditions and structural change within the
microfi nance industry has greatly increased
concern about default and loan loss.”
Such economic turmoil has brought the
need for fi nancial know-how into even sharper
focus. “The big question, though, is whether
MFI managements are up to leading their
institutions through these testing times,” the
report continued. “Respondents saw a need
for more skills in the areas of risk management,
cost control and strategy as MFIs
face tougher competition and diffi cult market
conditions.”
A Double Whammy
In the end, it boils down to survival. Microfi -
nance institutions risk losing customers unless
they provide a wider range of services—
such as convenient banking through ATMs,
branches and other outlets, said Maria Angelica
Hoyos, marketing manager for Women’s
World Banking Colombia. “We need a
full portfolio—not just loans. As a bank, we
can have a higher level of clients.”
Growing more sophisticated allows MFIs
to keep serving customers who have become
successful in business and now have fi nancial
needs beyond the micro-loan. For example,
some microfi nance institutions are
branching into housing loans and other types
of credit. Others are looking into crop and
health insurance. Many microfi nance institutions
also see savings accounts as a vital
component of the services they must off er.
The expanded portfolio is not just good for
the clients: By off ering more banking services,
the MFI also brings in more capital,
creating a more sustainable operation that
feeds into the growth of the MFI and makes
it better able to pursue its mission.
Despite the perks, bankers and microfinance
institutions make strange bedfellows.
Annet Nakawunde, head of operations
at Uganda Finance Trust, Ltd. in Kampala,
Uganda, can see the need to provide more
banking services, but she chafes at the fl ow
of labor away from microfi nance institutions.
“We have a challenge in that the big banks are
downscaling, but they don’t have the capacity
to take care of the microfi nance customer,
so they are looking to the microfi nance
institutions to fi nd their employees,” said
Nakawunde, who has watched several employees
leave to go to fi nancial institutions.
“The microfi nance industry has turned out
to be a training ground for the big banks. We
take the … people and train them, and then
the banks come and poach the talent.” The
exodus becomes a double-whammy for the
microfi nance institution, because MFI customers
often follow the employee to the new
bank. “When you lose that talent, you also
lose customers, because [the bank employees]
also have targets.”
On the managerial level, attracting banking
talent to the microfinance sector is a
challenge in part because of pay and benefi
ts that are comparatively low. “I’m not sure
that we’re in a position to poach top executives
from banks,” said Karim Fanous, executive
director of The Lead Foundation in
Egypt. “We will be unable to compete on attractive
salaries and fi nancial remuneration.
But we have a lot of other things to off er. We
need to make sure people know that these
things are there.”
Lynch agrees that microfi nance “can’t compete
in terms of salaries” but believes that
microfi nance’s social mission and “double
bottom line” is “a signifi cant draw for those
who are susceptible.” Women’s World Banking
frequently gets calls from women on Wall
Street who want to use their skills for a social
purpose. “Microfi nance off ers something
to people in fi nancial services who want to
contribute to the greater good,” she says.
Career development also draws some people
to banks from microfi nance, pointed out
Maros Parreno Apostol, who works as gen-
SUMMER 2010 | WHARTON MAGAZINE | 35

eral manager of South Pacifi c Business Development
(SPBD) in Samoa. Before moving
to Samoa, she was based in Cambodia
for nine years with two other microfi nance
institutions. In both Samoa and Cambodia,
“MFI staff transfer to banks because of the
organizational nature of the MFI,” she said.
“MFIs have a fl at organizational set-up compared
to banks,” where there are diff erent
functions and specializations. “We can train
people, manage their talent and send them
to international conferences. However, the
job level/function is the same.”
“Th e trigger for me to
shift to microfi nance
was not monetary
gain or career growth.
I thought that if I am
going to work so hard,
I might as well do it
[for] those who are
disadvantaged.”
David Mukaru pointed out that career advancement
was one reason he moved from a
non-profi t microfi nance institution to Equity
Bank, a for-profi t microfi nance institution
in Kenya. He also saw a greater opportunity
to off er a broader range of services to the
people he wanted to help. “Why did I move?
Probably I needed to scale up, to get wider
and deeper into the market. Sometimes offi
cers need to grow their skills” in order to
better help their constituents, he said.
When banking executives do decide to go
into microfi nance, it’s not always easy to fi nd
a good fi t. Glynis Rankin, a workforce consultant
at London-based Creative Metier, said
a recent study she did of 15 microfi nance
CEOs found that the institutions struggled
to integrate banking talent into their culture.
“Sometimes people would come into microfi
nance from banks and try to make it work
like a bank,” she said. This caused problems
in an industry that is highly mission-driven.
The concern she often heard from CEOs
was, “‘How do you re-orient people to understand
that this is microfi nance, that this
is something very diff erent?’ I think there’s
a real issue there.”
36 | WHARTON MAGAZINE | SUMMER 2010
Faisal Malik, head of information technology
at the Kashf Foundation in Pakistan,
said that, when recruiting banking executives,
he always asks, “Do you have an ability
to unlearn? That’s a very important aspect.”
Banking executives might have talent,
but there is a lot more to microfi nance, he
added. “It’s a whole diff erent level of gratifi -
cation when you see something grow; when
you’re able to touch the grass roots-level poverty
and see how you’re having an infl uence.
In the end, life is a lot more than just benefi
ts and compensation.”
Some employees who leave microfi nance
institutions do come back, according to
Erdenechimeg Dorjgotov, director of the operations
management division of XacBank,
part of the Tenger Financial Group, in Ulaanbaatar,
Mongolia. In her experience, about
40% of employees who leave her MFI for
a traditional bank return after a few years.
“They miss the culture,” she said.
Those non-tangible benefi ts are what drew
Lorisa Canillas away from a bank to become
general manager of South Pacifi c Business
Development in Nuku’alofa, Tonga. “The
trigger for me to shift to microfi nance was
not monetary gain or career growth,” Canillas
said. “I was looking for meaning from
my work and I just could not get it from the
corporate and commercial banking world. I
thought that if I am going to work so hard,
I might as well do it [for] those who are disadvantaged.”
The advantage of transitioning from being
a banker to becoming a microfi nance
practitioner “is that you can bring a strong
business approach to your program, which
helps ensure sustainability rather than just
being benevolent,” Canillas noted, adding
that “there are aspects in microfi nance work
that you cannot apply your banker’s mindset
to. For example, you cannot expect to do
thorough fi nancial analysis on loans as low
as $100 for clients who do not even have records
of their income and expenses; or lend
to start-up micro-businesses, which is unthinkable
in the banking world. More importantly,
having the commitment—or sharing
the same values and mission of helping the
poor—is a very important factor for a talent
to be eff ective. MFIs must guard against
the fl ow of talent that has no passion for the
double bottom line.”
ON
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Visit Knowledge@Wharton at:
http://knowledge.wharton.upenn.edu/
Thuy Dam
continued from page 32
ing, and Vietnam was opening to the outside
world. She and her cofounders of InvestConsult
saw an opportunity. “Vietnam
had been closed to the world for such a long
time,” she says. “When you open up, there
is always a huge gap between what the foreigner
looks for and what the government
wants. We believed there needed to be a
bridge between the two parties.”
She says that she and her partners ran the
business largely on intuition and their own
fi rst-hand knowledge. Realizing she needed
a broader understanding of business, she
decided to apply to Wharton. She remembers
having a difficult time applying for
admission and the scholarship. The United
States had only just lifted its trade embargo,
and relations between the two countries
were still tense.
“Everything was so new. It was hard to
get information. Trying to fi nd a place to
sit for exams was challenging,” she recalls.
She describes her two years at Wharton
as an intellectual awakening.
“What Wharton taught me most was not
technical skills. It was the things I learned
from my friends and classmates [that stood
out]. There was this entrepreneurial spirit
there,” she says. “People tossed around
ideas, and professors were ready to entertain
ideas. I had come from a society where
ideas and thought were shaped by somebody
else.”
While she is reluctant to make any predictions
about her career, she expects to be in
Vietnam for some time. Last year, ANZ gave
her responsibility for the bank’s operations
in Laos and Cambodia, as well as Vietnam.
Although the world fi nancial crisis hurt
Vietnam, the country has fared better than
many others, according to Dam. Vietnam
relies heavily on exports, and while the
global recession did weaken demand for
the country’s products, Vietnam’s emerging
banking industry never got entangled
in the disastrous investments that brought
down banks elsewhere.
“There are still quite a few challenges the
country will have to deal with, and there will
be bumps in the road,” she says. “But being
in this country and being Vietnamese,
I have to be optimistic about the future of
this country and this market.” —Robert Preer

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you’ve already made
in yourself
In an economy fueled by innovation, the analytical abilities you develop
as a student at Penn—and that you apply every day to the complex questions that face
the world—are among America’s most valuable economic assets.
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RAVINDRAN
Editor’s Note: Regrettably,
space constraints do not
permit publication of all
photo submissions.
Submit Your
Class Notes Online
www.whartonconnect.
com/class_notes.html
38 | WHARTON MAGAZINE | SUMMER 2010
Please send information about yourselves to your class correspondents at the listed addresses or to
Wharton Magazine, 3733 Spruce Street, 344 Vance Hall, Philadelphia, PA, 19104.
Email: classnotes@wharton.upenn.edu Fax: +1-215-898-2695 Telephone: +1-215-746-6509
Wharton Undergraduates
40 s
Class Correspondent W’42
Harold Diamond
1549 Elkins Avenue
Abington, PA 19001
50 s
Class Correspondent W’50 and ’51
Jack R. Bier
BAC Associates
201 South White Horse Pike
Audubon, NJ 08106
Fax: 856-310-5204
bac@bacassoc.org
Bob Anderson, W’50, of Webster,
NY and Delray Beach, FL, writes:
“My wife Betty and I drive our
motor home back and forth.
When we get to Florida we do
many RV rallies…one or two a
month. I’ve been retired since
we sold our business 20 years
ago, but have kept active in
condo association operations
and activities. Betty and I have
six kids (two of whom graduated
from Penn), 18 grandchildren,
and 12 great-grandchildren. I’ve
also been a board member of
many organizations, and I’m
active in church work. It’s been
outstanding being an active
member of the Shrine of North
America, past Potentate of
Damascus Temple in Rochester,
NY, and a representative to
their national conventions. The
Shriners do great work with their
22 Shriners Children’s Hospitals
providing free orthopedic and
burn care to all children.”
John Hackney, W’50, of
Devon, PA, was given a wonderful
birthday present by one of his
sons: a trip back to Utah Beach
in France where John had landed
with his anti-aircraft unit on
D-Day, June 6, 1944. This visit
in September with his wife, Joan,
son, and daughter-in-law was
John’s fi rst since D-Day. He was
given a medal of gratitude by the
French, and a certifi cate making
him an honorary citizen of Sainte-
Marie-du-Mont, the town adjacent
to the Beach. On his return home
John had knee surgery but looks
forward to singing “Daddy” at
the dedication of the refurbished
Mask & Wig Clubhouse.
John writes: “I once had the
privilege of honoring the June 6,
1944 veterans who landed on Utah
Beach and survived. My closing
salute was to the heroes of Utah
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

and Omaha Beach, 18 miles away,
and the impossible advances
which resulted from their bravery.
They truly accomplished a victory
beyond description and each one
of them should be awarded a
Congressional Medal of Honor.”
You may recall that on Hey Day
May 19, 1950, four Class of 1950
classmates were elected by the
class as “Honor Men”; Cane Man
L. Edison Mathis died in 1982.
Spoon Man Harry Wettlaufer
passed away a few weeks after our
50th Reunion. Spade Man Ed Igler
died this past September. Bowl
Man John Hackney, current class
president, is now the sole survivor
of this honored quartet.
Jim Hickok, W’50, writes: “I’m
sitting out here in Scottsdale,
AZ, scorching to death for three
months every year, but otherwise
enjoying some of the best weather
in the country. I have been here
in a golf community since 1995,
when I retired. My golf has slowly
deteriorated, along with virtually
everything else. My health is
generally good, but I have lived
alone since 2004 when my wife of
50+ years passed away, but two of
my three sons live in the general
area and keep an eye on the old
man. A close neighbor in the
complex is Jim Farren, W’52, who
was also a Sigma Nu fraternity
brother. My new companion is
Carole Heroux, a gal I have known
for 30+ years and who lost her
husband about the same time as
my Ginny. She’s a great gal, and a
dynamo who keeps me hopping (a
bit of a stretch as I can’t really hop
anymore).”
Jim Jordan, W’50, G’57, GR’66,
of West Chester, PA, writes: “I’m
still working at 82 after being
VP of Astra-Zeneca for some 34
years, which included a stint as
adjunct professor at Wharton from
1966 to 1982. I decided to keep
going as labor arbitrator. I have
decided more than 1,200 cases
all over the U.S. on permanent
arbitrator panels for Boeing and
the U.S. Air Force. I’m heading
for Croatia, which is among the 40
other countries I’ve visited. My
grandson, David Jordan, a Penn
graduate with Honors, got three
degrees and a masters in four
years. He is now a fellow at
Rockefeller Institute.
Gene Kaplan, W’50, of
Princeton, NJ, is still active in
business as Managing Partner
of Capital Consulting Network,
fi nancial, merger & acquisition and
turnaround consultants. Harking
back, he wonders how many of us
actually wore dirty white bucks at
Penn!
Ben Kreitzberg, W’50, of Monroe
Township, NJ, is an attorney today
who is still connected to track
and fi eld where he starred as an
undergrad. He lives near Princeton
and says he has “acted as chief
judge/timer at their track meets,
as well as the IC4A meets and
the Heptagonals. Last year I was
doing the same thing at Penn. For
many years I’ve been an offi cial at
the Penn Relays and recently got
the Ken Doherty Award for retired
offi cials (and then was called back
to active duty as Head Timer for the
Relays.) I recently had the pleasure
of having my grandson Sam
Connelly accepted to Penn this past
September. He thus joins me and
both his parents as Penn people.”
David L. Mahoney, W’50, of
New Hartford, NY, writes: “Briefl y:
President Phi Delta Theta, U.S.
Navy, 1950-1955, married Janemarie
McEvilly, Marymount 1950; joined,
then acquired family insurance
brokerage; sold the business and
retired in 1991. Served as chairman
of Herkimer County Legislature,
Herkimer County Community
College and Little Falls Hospital.
Children and grandchildren are
scattered from Connecticut to
California.”
John (Bud) Mannes, W’50,
Bethesda MD, he writes: “I guess
the most important things in
our lives at this point are our
grandchildren. The oldest, Ben
Sack, graduated Harvard two
years ago and is in his thriving
computer consulting business in
Boston. The other two boys, Daniel
and Matthew, are at Harvard.
Alex graduated from Brown and
is working for a marketing fi rm
in Washington, DC. Jillian is
at Cornell and is a senior who
has spent time in Tanzania and
Kenya as a volunteer with medical
groups. Daniel spent the summer
in Beijing teaching English.
Matt worked with a company
representing “rap” artists. Me, I
have decided my best golf years are
behind me. I still play, but not very
well. We hope to visit Japan for
three weeks this fall.
George C. Matteson, W’50,
of Overland Park, KS, has a
genetic hearing problem and
would be totally deaf today were
it not for a cochlear implant. He
describes what he hears as “voices
coming out of a 55-gallon barrel”
but he is grateful. Like many
others with hearing boosters,
he gets a noise overload in large
gatherings, parties and the like.
After graduation George spent
a year working in Chicago, then
two in the service followed by
several years with an auto parts
manufacturer in Wichita, KS,
Racine, WI, and Kansas City. In
1965, he founded his own
company in Kansas City that sells
promotional playing cards, which
he sold in 1992. The company’s
name today, Gemaco, is a new
one, but it still echoes George, the
founder.
Edward F. McGinley III, W’50,
of Villanova, PA, writes: “Just got
through having two heart valves
replaced. So far, no problems,
but also, no guarantees. One
grandchild just graduated from
Penn in the class of 2009. Kyle
Whiteman is his name and he’s
headed to Washington, DC to be
a page in the Senate. God help
him. His younger sister, Anna
McGinley Whiteman, is a freshman
at Penn in the Class of 2013.
Coincidentally, she will be living
in the exact same dorm that I was
in when I was a freshman in 1946-
47. Ain’t life GRAND! I’m retired
from Goldman Sachs in the Fixed
Income area. Live in Villanova;
love it here and, if God is good, I
shall die here in the same home
where I’ve lived for the past 42
years. (We sold our home in the
West Village in New York several
years ago.) I have been a very
blessed man.” Ed was reminded
that two Penn grandchildren meant
four generations of McGinleys at
Penn. He replied, “Some may say
‘that’s plenty’ but I hope we’ll keep
going as long as we can still pay
the tuition.” Ed added, “I think it
may be some kind of a ‘record’ that
there are/were FOUR letter winners
in football named McGinley (from
the same family).”
Henry F. Michell III, W’50,
of Radnor, PA, and Hilton Head,
SC, writes: “I play lots of golf and
don’t miss the northern winters.
See Pete Peterson periodically.
Spend summer and Christmas
in Radnor. I retired from active
participation from the family
business several years ago and it’s
now run by my son. The company,
Henry F. Michell Co., will celebrate
its 120th year in business in 2010.
It was started in 1890 by my
grandfather as a retail seed store
in Philadelphia. Got out of retail
in the mid 1950s (not coincidental
with grad year) and moved to
King of Prussia in 1960. Primary
product line is live plants and seed.
Like most industries, ours is very
competitive and demand is soft,
which is refl ective of the economy.
Things will improve, obsolescence
hasn’t bothered us yet.”
Paul F. Miller, Jr., W’50,
HON’81, of West Conshohocken
PA, Bokeelia, FL, and Center
Sandwich, NH, former chair of
Penn’s Board of Trustees, writes,
“Some sad news. Ed Igler died
on September 13. The memorial
service was on September 25. We
attended and I spoke. In July, I had
a new aortic valve put in my heart,
and it seems to be fi ne now.”
Alan S. Moscowitz, W’50, of
West Orange, NJ, writes: “Penn has
always been a love of mine. I see
Eugene Nadel and Dick Winneg all
the time and we have many of the
good things in life with each other.
I have been retired from the scrap
metal industry since 2000. It’s
amazing how that industry has
changed over the years. I cannot
believe the prices of scrap metal
today. I have two sons, one of
whom graduated from Penn in
2000. We are both active in the
Penn Club of Northern NJ and we
both have interviewed students
applying to Penn.”
Daniel I. Murphy, W’50, of Bryn
Mawr, PA, says: “Being retired,
I manage to stay busy without
pressure. Two days per month I
work for the Philadelphia Courts
as a mediator to settle cases. I
often see Marv Halbert (a retired
judge) who seems to be busy doing
something while dressed in his
cowboy garb. Another two days per
month, I sit as an arbitrator for the
Philadelphia Court.”
Diarmuid F. O’Connell, W’50,
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 39

of Cohasset, MA, writes: “I am
grateful to be alive and well. I
have been retired for a long while
now and been living in the lovely
town of Cohasset, MA, now for
over 40 years with my lovely
wife of 47 years. She graduated
Connecticut College 1950. We
have three children and now seven
grandchildren. We travel by choice
and necessity as our children live
now in San Francisco and Paris.
We had one son graduate from
the joint Johns Hopkins SAIS/
Wharton MBA program and he
is with the Capital Group in San
Francisco. My other son is with
the Tesla Electric Car Co. (It
goes @40m/charge). He has my
name so you may see information
about him. Be assured, I have
stayed retired. Our daughter and
her husband are retired from
Morgan Stanley. Tennis is now
the big sport in my life along with
cruising off our shore and the
northeast in a Nordic Tug.”
David H. Samuel, W’50, of
Greensburg, PA, recalled his days
(and nights) on WXPN, “when
I had a 5-something p.m. sports
show, AND an early morning
6:30-8:00 a.m. DJ stint of big
band records, which, incidentally,
my eventual bride, a Drexel
student/grad, could listen to in
her dorm. I also wrote sports
for the Daily Pennsylvanian,
worked for two years in the
Sports Information Offi ce for
Ed Hunter; was a sports stringer
for the Inquirer and Bulletin
covering all Penn sports except
varsity football and basketball;
and covered the Penn-Villanova
doubleheaders at the Palestra
for the AP. Upon graduation,
I was Sports Editor and police
reporter for the Coatesville
Record; returned to Philly to
work for Adelphia Associates, a
PR fi rm; got downsized, married
my Drexel grad (who became
an Asst. Buyer at Wanamaker’s
and was an executive trainee at
Lit Bros, returned to my home
town of Johnstown, PA, to work
in Adv./P.R for Pennsylvania
Electric Co.; transferred in a
similar capacity to West Penn
Power in Greensburg (where
we continue to live). Partnered
a clothing store for big-and-tall
men; owned a restaurant/bar;
40 | WHARTON MAGAZINE | SUMMER 2010
sold insurance (most recently
AFLAC), then retired. Am
currently involved in writing a
‘coff ee table book’ about famousand-infamous
Pennsylvanians (not
the university) whether born here
or emigrated to our state. Terry
and I have two married children,
two grandchildren and a mortgage.
Other than the above, I’ve not
been too busy. I almost forgot
this; I served two years as Drexel’s
fi rst fulltime Sports Information
Director while my fi ancé was still
an undergrad.”
Marvin Sohn, W’50, of Silver
Spring, MD, writes: “Roma and I
celebrated our 55th anniversary
in September. We have fi ve lovely
granddaughters ranging in age
from 15 (almost 16) to 5. After
being New Yorkers for all of
our lives we now are living in a
lovely active adult community
in Maryland and enjoying the
proximity to Washington, DC,
while having trees and wildlife in
our backyard.”
Donald M. Swan, Jr., W’50,
L’53, of Coopersburg, PA, remains
active in his vocation, fi nancial
advisor, through his own Flint Hill
Management, and his avocation,
the theater. In 2009 Don appeared
in three productions in Allentown-
Bethlehem-Easton area theaters.
He played a reporter and the US
President in The Manchurian
Candidate, the grandfather in
Guys & Dolls (he insists audiences
wept as he sang More I Cannot
Wish You) and the Wizard in 16
performances of The Wizard of Oz
for adult and youth audiences.
Clyde Zukswert, W’50, of
Florham Park NJ, writes: “Like
George Curchin I passed the CPA
Exam and went to work for my
dad who had a public accounting
practice. After four years, however
I realized my interest was in
construction. While at Acacia
Fraternity I had put in about
75 hours completely rebuilding
the top section of the fourfl
ue chimney. In 1964, I had
the opportunity to purchase
the residential remodeling
company I had worked for during
summers while at Penn. My son
now operates the business. I
continue to stay active serving as
a volunteer fi reman for 58 years,
a Weichert real estate agent, a
Kiwanian, a food pantry volunteer
and for the last two years with
the help of a Bose CD player,
I’ve volunteered to sing at over
50 assisted living residences in
Northern NJ.”
Thanks to Tom Poole for most
of the notes used in this article for
W’50 alumni.
Class Correspondent W’52
Lawrence W. Althouse
4412 Shenandoah Avenue
Dallas, TX 75205
althouses4412@sbcglobal.net
Philip (Phil) N. Baker and his
wife, Sandy, on June 20, 2010
celebrate 58 years of marriage
that issued in three children,
seven grandchildren and one great
granddaughter. In 1962, the Bakers
moved from New England to St.
Louis with Monsanto’s Plastic
Division. After Monsanto got out
of plastics, Phil joined D’Arcy
Macmanus & Masius Advertising
as vice president and director of
research. In 1985, he started P.N.
Baker Associates, a marketing
consulting fi rm. It was a Wharton
seminar course that fi rst stirred
his interest in marketing research,
as well as taking part in a project
for Lit Brothers in Philadelphia.
The burning question of the day
then was: “Does it make any sense
to open branches in the suburbs?”
He knocked on a lot of doors
to interview housewives, before
giving Lit a big, “Yes!” Now, living
in Kirkwood (St. Louis, MO) his
volunteer projects have included
the Emmanuel Episcopal Church
food center, a local library, doing
Talking Tapes, reading to the blind
on a nearby Illinois radio station,
serving as a board member for two
childcare agencies, holding various
offi ces of the Civil War Roundtable
of St. Louis, correspondent for the
class of 1948, from Northfi eld Mt.
Hermon School (MA) and various
offi ces in the American Marketing
Association. The Bakers “once
cruised and traveled widely”
but today they look forward to
spending Februaries on Sanibel,
FL. Phil says: “I’ll be 79 on June
23. And 80 on June 24.”
Paul (Rick) E. Oppenheimer
writes: “I’ve retired from my
management consulting practice
and for the past 18 years I have
been a Chair with Viostage
International, Inc. A Chair is the
facilitator for monthly CEO group
meetings and the mentor meets
monthly with each CEO member,
one-to-one, in his/her offi ce for 1
1/2 hours. I have fi ve groups: three
for CEOs and two for the KEY
direct reports to the CEO—about
70 people. Very stimulating and
great psychic income.” Rick and
his attorney wife have been living
in Lancaster, PA for the past 44
years. There are fi ve grandchildren
ranging in age from 7 to 21 —four
boys and one girl “all heavily into
lacrosse.” The Oppenheimers
enjoy annual visits to Las Vegas,
Puerto Rico and Maui. Rick says:
“I have enjoyed being on the Penn
Grapplers Club Board for the past
10 years. Life is good!”
Jerry Buff writes: “Since
graduation, I got a double dose
at Harvard Business School
and spent my business career in
investments. I spent a lot of time
at Smith Barney and then as a
partner in the money management
fi rm of David J. Greene & Co.
Since retiring, I have taken a lot of
English lit courses and developed
an interest in poetry (reading, not
writing).” He is also a member
of the NYC Grolier Club (book
collecting) and has served on
the Board of the Keats Shelley
Association. He has two daughters
and three grandchildren and is
very happy in a second marriage
to Sharon. He concludes: “Friends,
reading, travel and managing my
investments keep me busy, but
smelling the roses is an important
activity.”
Arthur M. Edelman is a
retired partner of CPA fi rm
J.H. Cohn LLP, headquartered
in Roseland, NJ. In 1986, he
sold his local Lawrenceville, NJ
practice to J.H. Cohn and it is
now the largest independent
accounting and consulting fi rm
in the Northeast. In 1953, he
was married to Marion Lavine
(Douglass/Rutgers) and they
had three children. Marion died
in 1972. He married Carol Frank
(two children) in 1974. As partnerin-charge
of the Lawrenceville,
NJ offi ce of the fi rm, he took
mandatory retirement in 1996,
but remained as consultant until
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Alumni Update
AMBASSADOR SPOTLIGHTS
Wharton’s Class Engagement Ambassador and Class Development Ambassador programs off er new
opportunities for alumni to get involved with their alma mater.
Engagement Ambassadors work with Wharton Alumni Aff airs to keep communication going within their
class, in both reunion years and non-reunion years, by sending out letters to classmates and managing
social networking sites. Development Ambassadors work with Th e Wharton Fund team and help contribute
to the School’s fundraising eff orts by rallying giving from those in their class years.
Four Ambassadors recently spoke with Wharton Magazine about why they decided to take on this
responsibility, what Wharton means to them and how rewarding their eff orts have been. —Tim Hyland
Laura O. Ross, C’98, WG’05
(Development Ambassador)
HOMETOWN: Great Neck, NY
WHY I’M AN AMBASSADOR: I am very proud to be
a Wharton alum so I wanted to give back to and
do as much as I can to help the School maintain
its spot among the top
business schools in the
world. Wharton has had
such a profound impact
on my life. It has helped
me successfully navigate
my career and multiple
job searches, with the
Wharton alumni directory,
the Wharton job board, the receptivity of the
alumni network, and Wharton networking events
in general. Going to Wharton has also introduced
me to most of my best friends! As a result, I feel
passionately about giving back and putting in as
much eff ort as possible to motivate others to give
back as well.
WHAT WHARTON MEANS TO ME: While the
education I received at Wharton was top-notch,
to me the School is as much about what I learned
outside the classroom as it is what I learned
in the classroom. Many of my friends today
are either from Wharton or through Wharton
friends. Additionally, my involvement in clubs
and activities has defi nitely made an impact on
my personal and professional life. Finally, some
of my most exciting adventures and experiences
resulted from the numerous opportunities I had
at Wharton to travel the world—through studentled
excursions, GCP, WIVP or on my own with
Wharton friends.
MY REUNION EXPERIENCE: Not long enough! It
was great being able to catch up with so many
people I hadn’t seen in a long time, but there
were so many others I wish I could have also
spent more time with. Everyone is so busy “in the
real world.” Th e reunion was a great opportunity
to stop and refl ect on life since graduation, hear
about what everyone has accomplished in such a
short period of time, meet future Wharton grads,
and reconnect with friends from school.
Marie Williams, G’95, WG’95
(Engagement Ambassador)
HOMETOWN: Ashburn, VA
WHY I’M AN AMBASSADOR: Becoming a Class
Ambassador was an easy decision for me. For
my 15th reunion, I was the Communications
and Technology Chair, and my goal was to create
platforms to reconnect everyone. Over the years,
we’ve built a great foundation through Facebook,
Twitter and our robust network of cohorts. I view my
role as an Ambassador as an extension of this, and I
hope to build upon it.
WHAT WHARTON MEANS TO ME: Simply put, it’s
a very valuable brand to have on your resume.
Th is has been all the more apparent to me as I’ve
changed companies. I know that I can always rely on
the Wharton network. My classmates, in particular,
are incredibly helpful when I need to make
connections—personally and professionally.
MY REUNION EXPERIENCE: It never fails to amaze
me at how well my class comes together. We lucked
into fantastic weather that weekend, but Reunion
is always a great opportunity. With those you knew
well, you just pick up where you left off . And with
those you didn’t, you get to know them better. I
also enjoy taking advantage of the faculty seminars
and brushing up on the latest research. But my
favorite moment was our class picnic on Saturday.
Th e weather was gorgeous, the location ideal,
the atmosphere relaxed and the conversations
engaging.
Don Short, WG’70
(Engagement Ambassador)
HOMETOWN: Buzzards Bay, MA
WHY I’M AN AMBASSADOR: Reconnecting with
classmates has led to plans for getting together
this summer with a number of people. Since we
are on the coast on Buzzards Bay, a number of
classmates plan to stop by as they sail north this
summer. Renewing friendships and establishing
new ones with classmates that “have gone through
the minefi elds” of two years of graduate study at
Wharton and the opportunity to benefi t from the
many Wharton outreach programs is most exciting
and revitalizing!
WHAT WHARTON MEANS TO ME: Wharton provided
me with the skills to progress from marketing and
sales to general management
in the “business world” and
the skills to be able to do
some adjunct teaching. At fi rst
Wharton was a door-opener
into Fortune 500 companies
and then smaller, more
entrepreneurial companies.
Later it was a supporting credential in attaining
greater responsibility. My experience as a Teaching
Fellow in Marketing at Wharton began my love of
teaching. In recent years, I’ve taught seven diff erent
courses at the graduate and undergraduate levels,
furthering my own learning, too, in fi elds far diff erent
from my marketing major.
MY REUNION EXPERIENCE: I’ve learned that reunions
are increasingly special as we grow older. From
the time I hit the registration desk, meeting two
classmates, we were all on the go: lunch, meeting
more classmates; to the excellent globalization
seminar; to a pre-cocktail party before the class
dinner, meeting all the returnees. It was terrifi c
to meet the “gang” and spouses. I really enjoyed
participating in activities at Wharton’s fi rst-class
facilities, a quantum leap forward from our one
building, Dietrich Hall.
Edward Cook, WG’90
(Development Ambassador)
HOMETOWN: Costa Mesa, CA
WHY I’M AN AMBASSADOR: First and foremost, we
had and continue to have a phenomenal Wharton
class. It was an amazing, collegial group of very
creative people, and that made our experience during
business school exceptional. Th at’s carried through
to a lot of people’s desires to keep Wharton relevant
throughout our careers.
WHAT WHARTON MEANS TO ME: Wharton has been
a very important asset in my life, which is why I’ve
given back both with my time and fi nancially. Wharton
is an incredible institution that is basically at the tip
of the sword of America’s business competitiveness.
Wharton has some of the top thought leaders in the
entire business world, and we are graduating people
who are going to shape our future, particularly at this
questionable junction.
MY REUNION EXPERIENCE: Reunion gave me the
opportunity to reach out to alums all over the world.
I was able to recruit friends and classmates from
Th ailand, from Mexico, from London, from all corners.
It became a daisy chain of enthusiasm. … We ended
up with an event that nobody wanted to end. To a man
and woman, there was an overwhelmingly positive
response to Reunion.
For more information about the Ambassador program, call Diane Feissel at 215-573-8527.
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 41

2005. The Edelmans winter
in Bonita Springs, FL. His
“greatest accomplishment:” the
grandchildren. They graduated
from Colgate, Columbia and
McGill, one is a student at
Northeastern, the youngest is 13
years old.
Bill Berger made his home in
Upper Montclair, NJ, for 37 years,
before moving to live at Leisure
Knoll in Manchester, NJ (near
Tom’s River and Lakehurst). After
graduation from Penn, he worked
for Strawbridge & Clothier in
Philadelphia, including a two-year
stint in the US Army. From there
he went to work for Montgomery
Ward, fi rst in Baltimore and later
to New York City. After nine years
with Montgomery Ward he moved
to WT Grant, also in New York
City, for seven years. Bill writes:
“When they went under, I already
had a deal with a ‘head-hunter’
to join and spend 20 years with
General Felt, a holding company.”
It was the holding company for
Knoll Offi ce Furniture, Color
Tile, Diamond Lumber and
Foamex International, with home
offi ces in Saddle Brook, NJ. The
work involved lots of travel with
various private truck fl eets, other
trucking/rail/ocean containers,
and household goods moving
services. All these and more
provided Bill with the opportunity
to do some consulting work to
help them improve transportation
and distribution problems. He
greatly enjoyed annual meetings
of some related professional
groups: the National Industrial
Traffi c League, Furniture Traffi c
Managers Conference, Chain
Store Traffi c League and one
that he helped found in 1974 as
fi rst president and 20 years as
a director: the Transportation
Consumers Protection Council,
with 900 corporate members.
Bill says, “It was lots of fun, the
only major regret was the lack
of portability for pensions in
private industry. But a company
headquarters move just two days
from my 65th birthday gave some
good settlements for those not
wanting to move to Linwood, PA
(me!).” In June, Bill travels with six
family members to Alaska, with a
fi rst stop at Ketchikan, the world’s
salmon capital.
42 | | WHARTON MAGAZINE | | SUMMER 2010
Howard A. (Hank) Goodman
marks his beginning at Penn with
the advent of University President
Harold E. Stassen, who at one of
those many “freshman smokers”
told us, “I, too, am a freshman
here!” Barely three months after
graduation, Hank went into the
US Army as an enlisted man and
ended up in Okinawa in May of
1953. Fortunately, the war ended
in July. “Okinawa,” he says, “was
great, but had a lousy golf course—
sand greens!” Returning to the
US and civilian life, Howard got
married, divorced and remarried.
“Great gal,” he says of the latter
as they get ready to celebrate
their 40th anniversary in October.
There was a son from each of
his two marriages and both are
married and live nearby. There
are three grandchildren from his
fi rst marriage. Life insurance was
his major at Penn and he was a
commercial insurance broker all
his working life. His last position
was with Arthur J. Gallagher, one
of the three or four largest in the
world and listed on the NY Stock
Exchange. Although he would
have preferred to continue, the age
barrier enforced his retirement.
Hank has lived all his life in New
York City, but also had a house
in Connecticut. His letter comes
from Palm Beach Gardens, FL,
where he plays some bridge, some
golf and eats a lot. “Boring. They
call it God’s waiting room. The
big event of the day is when I
get a joke or story on my email”
(he enclosed two that he felt
were “appropriate”). “I am still
very friendly with one of my
classmates. The others either died
or I lost track of them.” I think he
meant all of us when he wrote:
“Hope you have a good life.”
Class Correspondent W’55
Felix A. Santoni
Box 34125
Fort Buchanan, PR 00934-0125
Felix Santoni writes: “I continue
to travel on personal and military
matters and will visit Fort Carson
in April, Denver, for the Council on
Foundations meeting, and Kansas
City for the Secretary of the
Army’s Civilian Aides Conference.
Supporting our soldiers and their
families is a great way to serve,
and I am very grateful that I have
been given this opportunity to
continue to serve our Army. It all
started for me as an ROTC Cadet
at the University of Pennsylvania
and continues today.”
Class Correspondent W’56
Jim Orlow
120 Sibley Avenue
Apartment 307
Ardmore, PA 19003-2312
Class Correspondent W’57
Eric W. Johnson
Winter address:
Th e Summit Condominiums
707 N. Helen Street
Mount Dora, FL 32757
Tel: 352-383-8520
Summer address:
Th e Oaks
305 White Oak Drive
Hendersonville, NC 28791
Tel: 828-697-3444
Class Correspondent W’59
Bart A. Barre, Esq.
P.O. Box 1206
135 Wild Hedge Lane
Mountainside, NJ 07092-0206
Phone: (908) 233-5550
Fax: (908) 232-3980
bartbarre@verizon.net
60 s
Class Correspondent W’60
Harry S. Yates
58 Champions Bend Circle
Houston, TX 77069
Tel: 1-800-755-5962
Fax: 1-888-781-4370
harry.yates@edwardjones.com
First, I’d like to thank Igor, one of
the six people who actually reads
this column, for urging me to be
more politically correct.
Rear Admiral Bob Weidman,
C’63, retired from the Navy
in 1999 and from the CIA in
2003. Bob was regular Navy in
Penn’s NROTC. While serving
at Ft. Meade in the National
Security Agency (NSA), he met
and married Cathy, who worked
for the Canadian liaison to the
NSA. Bob keeps ties to the Navy
as president of the Navy League
in San Antonio, TX. He spends a
lot of time playing doubles tennis,
and he’s the head of the local Penn
Alumni Club, which hosted the
Penn Glee Club in May.
Ben Castle, C’60 attended
Georgetown Law School and is
an attorney who confronts men
who abuse children. Ben says,
in a way, he’s a child lawyer. Ben
married Nikki, a Bryn Mawr girl,
who has two masters degrees and
a PhD in fi elds related to law and
social policy. Ben wanted to move
his new bride to New Mexico,
and she wanted to settle down
in Philadelphia. Ben says they
“compromised” and settled in
Delaware. Ben rowed for Penn’s
lightweight crew and would still
row but for a herniated disc that
limits his water sports to sailing on
Chesapeake Bay.
Tom White, WG’67, a friend
from church, joined Humble Oil
and Refi ning (later Exxon) right
after graduating from Penn.
He later spent 12 years as an
independent marketing consultant
and is now president of Vision
Resources, Inc., an oil marketing
and trading company in Houston.
Another church friend, Frank
Embick, WG’61, served in the
Navy for 4 years after graduating
from Princeton. Frank worked in
fi nance and accounting with Exxon
for his career. He remembers
meeting Malcolm X in 1964 in
Africa. Mr. X lamented that he was
better known in the US but just
another American in Africa. I told
Frank that I saw X at an outdoor
lecture at Berkeley in 1963.
Charlie Kleinbaum continues
his career as a real estate attorney
in New York. After graduating
from Penn he attended the
University of Chicago for his law
degree. Charlie also represents
the securities regulator FINRA
in arbitrations. His wife, Abby, is
a retired college professor. They
have two children, one, an attorney
in New York state and the other,
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

an urban planner in Oakland, CA.
Ray Peil stays pretty close to
home in Easton, PA, with his
signifi cant other since 1993. Ray
used to recruit for Penn and saw
some of his recruits play ball for
Penn. He had transferred from
Penn State and pitched for Penn
once, a game in relief, against
Temple. Their big hitter Pickles
Kennedy, hit an inside-the-park
home run that warranted this
headline in the DP: “Pickles
Kennedy Pickles Peil’s Pitch.” A
sore arm put Ray into retirement.
Dave Dockham spent half
of his business life in public
administration and the other
half with Sprint, forecasting for
their northwest region to help
Sprint decide on making capital
expenditures. Dave reports that
Wes Wadman died recently. Both
Dave and Wes were associated
with the Fels Institute of the
Wharton School.
Lud Jones, W’59, father of
fi ve boys and one girl, has great
memories of Penn, its wonderful
campus, and the excellent
education Penn off ered us all. Lud
regrets that “the entire Ivy League
and many other good schools
have been turned into hotbeds of
liberalism.” He lives and works
in Fort Worth, TX, as a business
broker. Ninety percent of his
contracts originate on the sell side.
As for me, I stay involved with
church work, most recently with
Kairos, a religious mission to
prisons. Thirty fi ve of us spent
four days at Texas’ maximum
security prison talking and
working with 42 inmates selected
from the hundreds who had
applied. What did I take away from
the weekend?
1. They receive little mail and few
visitors.
2. They trust few people.
3. They can forgive others but not
themselves.
4. They are open to a religious
conversion.
5. They will have a tough time in
the free world with few skills and
a prison record to show for many
years of their lives.
And fi nally, ’60 leads the Red
& Blue!
Class Correspondent W’61
Walter L. Pepperman II, W’61, L’67
549 Coy Hill Road
Twin Mountains Farm
Post Offi ce Box 1234
Middletown Springs, VT 05757-1234
Tel: 802-235-3700
Fax: 802-235-3701
tmfbb@vermontel.net
Class Correspondent W’62
Howard P. Weisz
1210 Winthrope Lane
West Chester, PA 19380
hweisz@aol.com
Class Correspondent W’63
Judy Cederbaum Kobell
2758 Mt. Royal Road
Pittsburgh, PA 15217
jayeko@msn.com
Class Correspondent W’64
Jay S. Weitzman
Park America, Inc.
Park America Building
One Bala Avenue
Suite 500
Bala Cynwyd, PA 19004
Tel: 610-617-2100
Fax:610-667-1806
jayweitzman@aol.com
Class Correspondent W’66
Bruce Hoff man
I. Levy Sons, Inc.
734 East Boston Post Road
Mamaroneck, NY 10543
Fax: 914-381-4737
ilevysons@aol.com
Class Correspondent W’67
Glen Jacobs W’67
Post Offi ce Box 145
Lenni, PA 19052
Gregg Huff has moved to teach
and research at the University
of Oxford where he is Senior
Research Fellow at Pembroke
College. Gregg leaves the
University of Glasgow, where he
was a Professor of Economics.
Class Correspondent W’68
John A. Cantrill
Cantrill, Clark & Davis
15 Garrett Avenue
Rosemont, PA 19010
Fax: 610-527-2258
jcantrill@cantrillclark.com
Paul H. Ross retired from New
York-based ING Investment
Management in June 2007.
Soon thereafter, he opened a
family offi ce, Westover Asset
Management LLC. “My life in
New York City remains as busy as
when I was employed, but there
is much more satisfaction to help
individual clients and charities.
As well, there has been more time
for visiting with friends, traveling
and reading. I recommend a busy
retirement to all my classmates!”
Class Correspondent W’69
Robert H. Louis
Saul Ewing LLP
1500 Market Street, 38th Floor
Philadelphia, PA 19102
Tel: 215-972-7155
Fax: 215-972-1826
rlouis@saul.com
70 s
Class Correspondent W’73
Gary E. Meringer, Esq.
gary@tunaverse.com
Larry Finkelstein is a
highly experienced (35
years) sophisticated business
lawyer with business and
fi nance experience, representing
very substantial privately held
companies, primarily familyowned
businesses, located
all over the U.S., and foreign
owned companies in purchasing,
establishing and operating
U.S. businesses, including
cross-border transactions and
relationships. Particular specialties
include M&A, fi nancing (debt
and equity), joint venture and
cross-border transactions, as well
as business, tax and succession
planning. Clients are in many
industries, including health
care, real estate, sophisticated
manufacturing and fi nancial
services.
R. Dixon Thayer is happily
married (to another Penn grad)
with two sons in high school.
He recently took the CEO role
at Southwest Windpower Inc.,
the VC-backed global leader in
distributed wind power products;
headquartered in Flagstaff , AZ.
He writes: “Before this, I was
CEO of I-trax Health Solutions,
a healthcare company traded
on AMEX (DMX); acquired by
Walgreens in 2008. Before this,
I was CEO of GreenLeaf Auto
Recycling (after leading and
LBO of this division from Ford
Motor in 2003); sold to Schnitzer
Steel in 2005. I also worked with
“Chainsaw” Al Dunlap at Scott
Paper and Sunbeam, and Jacques
Nasser at Ford. Still having fun.
It’s been a wild ride so far!”
Jack Arnold is working for IBM
storage in Tucson, AZ. “My job is
technical in nature, as a consultant
on disk storage controllers and
business continuity. I’ve got a great
family that keeps expanding (at
home right now are three wonderful
boys and a great wife). My personal
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 43

email is kjarnold5@msn.com if
anyone wants to get in touch.”
Gary Meringer is delighted to
announce that he has accepted
the position of General Counsel
and Chief Operating Offi cer for
Global Hunter Securities, LLC,
an international investment bank
headquartered in New Orleans,
LA.
Class Correspondent W’74
Steven D. Stern, CFA
Investment Advisor
4401-A Connecticut Ave. NW
PMB #213
Washington, DC 20008
Tel: 202-248-1762
Fax: 202-248-2298
Sterninves@aol.com
Class Correspondent W’75
Laurence H. Schecker, Esq.
13104 Hugo Place
Silver Springs, MD 20906
lschecker@aol.com
Class Correspondent W’76
Jo Karabasz
Box 215
Broadway, NJ 08808
Class Correspondent W’77
Alan Grad
CEO, President
American Business & Professional
Program, Inc.
1205 Northern Boulevard
Manhasset, NY 11030
Tel: 516-627-3900 Ext. 264
Fax: 516-627-3976
agrad@americanbusiness.com
Class Correspondent W’78
Lisa Brown-Premo
3417 Meadow Bluff Drive
Charlotte, NC 28226-1128
Class Correspondent W’79
Rick Wien
American Business & Professional
Program, Inc.
470 Park Ave. South
6th Floor
New York, NY 10016
Tel: 212-842-3608
Fax: 212-842-3610
rwien@americanbusiness.com
44 | WHARTON MAGAZINE | SUMMER 2010
80 s
Class Correspondent W’80
Bill Tamulonis
Erickson Retirement Communities
701 Maiden Choice Lane
Baltimore, MD 21228
Tel: 410-402-2078
william.tamulonis@erickson.com
Gerard J. Bifulco writes: “Mayann
and I recently welcomed Grace
into this world that already
includes our granddaughters Jada
and Kaitlyn and our grandson
Nicholas. Our daughters Nichole
and Crystal are wonderful moms
and our sons Gerard and Timothy
are proving to be terrifi c uncles!
I have moved to Ameriprise
Financial where I continue to grow
my fi nancial advisory and asset
management practice. Best of luck
to all of you and enjoy your 30th
reunion!”
Class Correspondent W’81
Larry Erlich
3554 Hulmeville Road, Suite 108
Bensalem, PA 19020
Tel: 215-244-6700
Fax: 215-244-6605
wharton@erlich.com
Class Correspondent W’82
Lawrence M. Lipoff
Lipoff Global Advisors
46 Powder Horn Drive
Suff ern, NY 10901-2428
Tel: 914-262-6812
llipoff @lipoff advisors.com
Class Correspondent W’83
Mary Teplitz
msteplitz@hotmail.com
Sharon Stern writes:
“Following 20 years of working
in corporate fi nance in New
York with Salomon Brothers,
Bankers Trust and Deutsche
Bank, I got married and moved to
the Hamptons. Over the last fi ve
years, I have been involved in real
estate and am now at Sotheby’s
International Realty in our
Bridgehampton offi ce.
The Hamptons are extremely
beautiful and the real estate
business here is unique and
exciting; it is great to be able to
enjoy this gorgeous place while
being active in one of the country’s
most active resort markets. If you
are ever in the area, please send
me an email at sharon.stern@
sothebyshomes.com.
W. Blake Baird, W’83, C’83,
is now Chairman and Chief
Executive Offi cer of Terreno
Realty Corporation, a NYSE-listed
acquirer, owner and operator of
industrial real estate in six major
coastal U.S. locations. Terreno
completed its initial public off ering
in February 2010.
Class Correspondent W’84
Michal Clements
2669 Orrington Avenue
Evanston, IL 60201
ADLER
Jeff rey Adler organized a program
which brought Jehoshua (Josh)
Eliashberg to the Wharton Club
of Washington, DC in February
2010. Professor Eliashberg is the
Sebastian S. Kresge Professor
of Marketing and Professor of
Operations and Information
Management at the Wharton
School.
Jeff rey Adler was one of
Professor Eliashberg’s very fi rst
Marketing Research students
when he fi rst started teaching
at Wharton in 1982. Eliashberg
inspired Jeff rey to pursue a career
in Marketing Research. Upon
graduation, Jeff rey was hired as a
Marketing Research Supervisor
for Procter & Gamble. Since 1997,
Jeff rey has been a principal of
Centrac DC Marketing Research,
where he is currently President.
Jeff rey has traveled back to
Wharton every year for the last
several years to guest lecture for
Professor Eliashberg’s graduate
and undergraduate marketing
classes in Marketing Research,
New Product Development and
Marketing Models.
At the DC Club event,
Professor Eliashberg shared
his groundbreaking work in
bringing some ‘science’ to the
movie industry. He described and
refl ected on his work with movie
exhibitors (Pathé Cinema), movie
distributors, and most recently,
with movie producers for whom
he and his colleagues developed
a scripts-based fi lm demand
forecasting program. Our alumni
really appreciated the opportunity
to learn about how the models
he developed at Wharton were
quantifi ably proven eff ective in
real world applications with movie
exhibitors, movie distributors and
movie producers.
Adler is a long time contributor
to the DC Club, a charter member
of the DC Wharton Leads Council
and Leads Council Ambassador to
other Wharton Leads Councils. He
indicated Professor Eliashberg’s
visit was important for the DC
Club because, “Outstanding
Wharton professors are at the
core of the fi ber which created
and holds together the Wharton
Club of Washington, DC. The
opportunity to continue to interact
with Wharton professors as
alumni helps us to continue to stay
dedicated to the concept of lifelong
learning upon which the Wharton
School is based.”
Several other students of
Professor Eliashberg’s attended
the event, which is certainly
testament to the high regard in
which he is held by his students.
Class Correspondent W’85
Maria Grazul
319 East 53 Street #4C
New York, NY 10022
maria.grazul.wh85@wharton.
upenn.edu
Greetings all. I hope that you’re
doing well and enjoying the early
summer. Please remember to send
in your news!
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Marty Lessner has written that
the Delaware Children’s Museum
opened in April. After years,
literally, of hard work by Marty’s
wife, Lisa, the new museum is
a Delaware fi rst. In between
preparing for the new museum
opening, Marty, Lisa and kids
took a family vacation to Europe,
where they visited Marty’s sister
in England and saw all of Paris
in a single day. Wow, that makes
me tired! Back at home, Marty’s
eldest, Sabrina, earned her driver’s
license and has begun looking into
colleges. Zack, 14, concentrates
on sports, with golf, bowling and
baseball among his favorites. Jodi,
12, continues with ballet, tap,
lyrical, jazz and hip hop dance, but
has also become a bigger Phillies
fan, much to Marty’s delight.
Class Correspondent W’86
Laurie Kopp Weingarten
129 Briarcliff Drive
Morganville, NJ 07751
Tel: 732-332-0001
lkwmhw@aol.com
Hi everyone! It’s been terrifi c to
hear from so many of you. If you
aren’t receiving quarterly emails
from me, it’s because your email
address is outdated/incorrect.
Please email me at the address
listed above so I can add you to the
updates. Keep the news coming...
it’s nice to catch up with former
classmates!
Jim Mitchell, W’86, L’89, is a
partner at Stillman, Friedman &
Shechtman, P.C. in New York. His
law practice involves litigation with
a focus on white collar criminal
defense law. He and his wife
Jennifer Mitchell (Gierke), W’86,
C’86, live in Westchester County,
NY, with their four children, ages
16, 14, 11 and 2. Jennifer retired
from DeutscheBank in 2004 after
an 18-year career in derivatives
and hedge fund-related business.
Michael A. Goldstein writes
that since being profi led in a
2005 issue of the Wharton Alumni
Magazine, he was promoted to
(Full) Professor of Finance at
Babson College in 2007, and
was appointed the Natalie Taylor
Senior Term Chair last year. He
has published articles in fi nance
journals and won “Best Paper”
awards. Michael became Chair of
NASDAQ’s Economic Advisory
Board for 2005, and has been
a member of the Economic
Advisory Board of the Financial
Industry Regulatory Authority
(FINRA) since 2007. He has
also served as an Expert Witness
in a variety of litigation cases
(including Citigroup v. Enron)
and is a Senior Advisor with
The Brattle Group. Last spring
Michael took a sabbatical in
Ireland, and was appointed a
Visiting Professor at Trinity
College (Dublin) and appointed
to be an Honorary Professor at
the Queen’s University of Belfast
(UK). His wife, Joanne C. Pratt,
Gr’91, was also at Queen’s as a
Visiting Senior Research Fellow
in Biomedical Sciences. Michael
recently became Chair of the
Faculty Senate at Babson and was
also appointed Faculty Director of
The Stephen D. Cutler Center for
Investments and Finance. Also,
he has received a National Science
Foundation grant to study the
eff ect of changes in seasonality
on the Arctic economy; you can
follow this at www.arcticecon.
com. In addition, Michael was
appointed as an Associate Editor
of The Financial Review, and is a
Director of the Eastern Finance
Association. Classmates can reach
Michael at www.magoldstein.com.
Michael has been told that he is
still the only person in Wharton’s
129-year history to receive all four
degrees that Wharton confers, but
would like to know if this is not
accurate.
Eric Roberts is currently a
Managing Director of the Caxton
Advantage Life Sciences Fund,
which makes public and private
equity investments in life sciences
companies. He co-founded the
fund in 2005 after leaving Lehman
Brothers where he was Managing
Director and Co-Head of the
Healthcare Investment Banking
Group. He resides in Manhattan
and Millerton, NY with his wife,
M.C.
A. Scott Bobrow and Greg
O’Connor are in the midst of
launching a new venture called
AuditionBooth. “Our partner is
Paula Abdul. This is the fi rst thing
she committed to doing since
leaving ‘American Idol.’” It is an
online talent discovery site that
will modernize the way casting is
done for TV, fi lm, music, brands,
etc., and allow for people from
every nook and cranny to fi nd their
way to fame. Sounds exciting!
That’s all for now. Keep the
updates coming!
Weir & Partner LLP is
pleased to announce that Abbe
A. Miller has joined the fi rm.
Miller concentrates her practice
in the areas of creditors’ rights,
insolvency and restructuring.
She represents secured and
unsecured creditors in bankruptcy
proceedings and related
transactions, commercial litigation
and out-of-court work-outs. She
also represents debtors and
creditors’ committees in Chapter
11 bankruptcy proceedings and
buyers and sellers of assets and
real property. Miller is a member
of the American Bankruptcy
Institute, the Turnaround
Management Association and the
Eastern District of Pennsylvania
Bankruptcy Conference. Miller
is a former Vice Chair of the
Education Committee of the
Eastern District Bankruptcy
Conference. Miller served on
the Board of Directors of the
Consumer Bankruptcy Assistance
Program, a pro bono organization.
Weir & Partners LLP, with offi ces
in Philadelphia, Delaware and New
Jersey, specializes in banking and
business fi nance.
LEIJON AND PORTALES
Class Correspondent W’87
Leslie Sherman Crane
25 Quidnic Road
Newton, MA 02468
Wendy Ferber writes: “I am
the co-owner of a promotional
company called Pride Products.
For the past twelve years I have
helped to run the company, but
starting in 2010 I’ve decided to
take on a new challenge by selling
for Pride Products. We imprint,
embroider and emboss logos
on anything from inexpensive
giveaways for trade shows and
conferences to high-end gifts for
clients, prospects and employee
recognition—any item that will
help to build market presence
and brand awareness (i.ei, bags,
umbrellas, eco-friendly “green”
items, UBS drives, apparel and
desk items, pens, etc.) I would love
to hear from classmates. wferber@
pride-products.com.”
Class Correspondent W’88
Marci Cohen
4 Kensington Park
Arlington, MA 02476
rockhackcohen@yahoo.com
Class Correspondent W’89
Keith Wasserstrom
3810 N 41 Avenue
Hollywood, FL 33021
Keith@WarrantyofAmerica.com
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 45

90 s
Class Correspondent W’90
Alan J. Gallo
gallo.wh90@wharton.upenn.edu
Dawn Leijon writes: “For the last
two years, I’ve been working with
a small team to research and build
a comprehensive college planning
website called WiseChoice (www.
wisechoice.com). We went live
in late 2009 with the mission of
helping high school students fi nd
the colleges that fi t them best. We
evaluate all the important
factors—student personality,
academics, preferences and
priorities, and the family budget,
then use a sophisticated fuzzy
logic matching engine to rate
how well each college matches
the student. Our goal is to
improve students’ chances of
success in college since currently
less than two-thirds of college
students get a degree within six
years of starting! One of our
challenges was to fi gure out how
to capture the personality of each
college. Our solution was to
undertake a massive marketing
research eff ort: asking college
students from over 1,300 schools
across the country to complete a
survey about their campuses. So
far we’ve gotten over 100,000
students to weigh in, and I’ve
learned a lot about Facebook
advertising in the process. On the
personal side, I continue to live
in DC with my Swedish husband
and three kids (Lukas, 9, Edvin,
7, Linnea, 4). I’ve recently
reconnected with several Penn
classmates via Facebook, and I
was able to get together in person
with Karen Portales, on a short
trip to Disney World. Facebook
has been a great way to keep up
with long-lost friends from college.
Everyone should give it a try!”
46 | WHARTON MAGAZINE | SUMMER 2010
Class Correspondent W’91
Robert Lee
200 East 87th Street #18D
New York, NY 10128
Class Correspondent W’92
Juan E. Alva
15233 Ventura Blvd.
Penthouse 2
Sherman Oaks, CA 91403
juan@fi ft hstreetcap.com
Offi ce: 818-990-3144
Cell: 310-993-2582
Class Correspondent W’93
Christopher C. Lee
Betts, Patterson & Mines, P.S.
701 Pike Street, Suite 1400
Seattle, WA 98101-3927
Tel: 206-268-8659
Fax: 206-343-7053
clee@bpmlaw.com
Mazy Moghadam writes from
Monte-Carlo, Monaco where he
moved two years ago after 10 years
in London. He and his wife, Leila,
are pleased to report the birth of
Amber Yas, a little baby sister for
Cameron, age 8 and Ariana, age 6.
Mazy is with Merrill Lynch doing
private client and family offi ce
work, based out of Monaco with a
strong connection to London still,
covering clients across Europe.
Mazy and his family are enjoying
life on the beach after all the years
in the UK.
Class Correspondent W’94
Mindy Nagorsky-Israel
8 Oak Valley Lane
Purchase, NY 10577
mnagorsky@yahoo.com
Kaihan Krippendorff and Pilar
Ramos, C’94, are proud to
welcome their third child, Makar,
to the world. He was born on
March 16, 2010. Above is a picture
of him on day one with his brother
and sister, Lucas and Kaira.
Heather (Lawrence) Carrillo
writes: “I got married on June 20,
2009. Heather Peikes Kirschner,
C’94, and Michelle Boisvert
Cutter, C’93, were Penn alums in
attendance. My husband’s name is
Christian Carrillo.”
KRIPPENDORFF
Tobias Dengel writes: “I’ve
recently become CEO of
WillowTree Apps, Inc., a boutique
custom mobile applications
development company based in
Charlottesville, VA, where I live
with my wife and two young sons.”
Joe Cohen is living in New York
with his wife Dalia and their three
boys: Ezra, Jack and Morris. Joe is
a Vice President at Goldman Sachs
in the Private Wealth Management
Group. He works with individuals
and their families to provide them
with risk management techniques,
wealth advisory services and
access to the best thinking of the
fi rm.
Brian Hurst and Nisha Hurst,
W’95, report that Asher Jason
Hurst was born on February 18,
2010 at Greenwich Hospital. He
was 6 lbs., 6oz. and 19.5 inches
long. Big sister Maya and big
brothers Dillon and Chase are
crazy about him. Nisha says:
“He is growing quickly and has
a strong personality. I guess
he has to in order to be heard
as the youngest of four!” Brian
is a principal at AQR Capital
Management in Greenwich.
Marcos Galpern writes:
“MercadoLibre, the company I
founded in 1999, is the largest
e-commerce and online payments
platform in Latin America. We
IPOed in NASDAQ in 2007 (ticker:
MELI). The company grew from
four persons in a garage in Buenos
Aires to a regional company with
1,500 employees, $2.7 billion in
transactions and 12 million unique
active buyers and sellers in 2009.”
Congrats to Marcos.
Stefan Whitwell and family
are enjoying their fl ip video
camera, having most recently
captured their 3-year-old son
holding his fi rst frog on video,
LOL! Professionally, Stefan is
building up FX Solutions, LLC
(FXwealth.net) and developing an
automated trading algorithm, so
he can tap into overnight volatility
while he is sleeping.
Class Correspondent W’95
David Simon
One Columbus Place
Apartment S-16F
New York, NY 10023
whartonmail@yahoo.com
Class Correspondent W’96
Sandy Rapkin
3270 Glendale Ave.
Menlo Park, CA 94025
sandra.g.rapkin.w96@alumni.
upenn.edu
Class Correspondent W’97
Karen Krause
Th e McGraw-Hill Companies
1221 Avenue of the Americas
47th Floor
New York, NY 10020
Tel: 212-512-2242
karenkrause@gmail.com
AKHTAR
Senwan H. Akhtar has joined
the law fi rm of Greenbaum,
Rowe, Smith & Davis LLP in its
Woodbridge, NJ offi ce. Akhtar is a
member of both the Corporate and
Real Estate Departments.
Akhtar’s experience includes
the representation of companies
in general corporate matters,
private venture fi nancings, federal
securities laws compliance,
employment agreements,
distribution and licensing
agreements, and the structuring
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

of new business entities and
joint ventures. She represents
sellers and purchasers in all
aspects of real estate acquisitions
and dispositions, including
offi ce buildings, industrial
facilities, shopping centers
and residential developments.
Akhtar also represents landlords
and tenants in the negotiation
of leases for offi ce, retail and
industrial properties. In addition,
Akhtar represents lenders and
borrowers in a wide variety of
fi nancing transactions, including
construction and permanent
loans, secured and unsecured
credit facilities, the purchase and
sale of loans, and the workout
of distressed loans. In 2009,
Akhtar was recognized as one of
Real Estate New Jersey magazine’s
Women of Infl uence. She is a
LEED Accredited Professional
(LEED AP), a credential awarded
by the U.S. Green Building
Council, and she is a member
of the board of directors of the
New Jersey Women Lawyers
Association. She received her J.D.
from New York University School
of Law. In 2010, Greenbaum,
Rowe, Smith & Davis LLP
celebrates its 96th year of building
business in New Jersey. The
fi rm has over 100 attorneys in
four main practice departments:
Litigation; Real Estate; Corporate;
and Tax, Trusts and Estates.
The fi rm has offi ces located in
Woodbridge and Roseland, NJ.
Class Correspondent W’98
Cindy Young Montano
BrandAsset Consulting
285 Madison Avenue
New York, NY 10017
cyoung@mba2005.hbs.edu
Hi Class,
For this issue, I have much baby
news to share. Congratulations to
all the new and expecting parents!
Hester Chang and Michael
Chang, W’97, delivered their son,
Ian, on Jan. 12, 2010. Ian’s older
sister Emma, now 3, has welcomed
him nicely!
JP Lespinasse has twice the
good news. He is engaged and
expecting a baby boy in June. He
and his new family will reside
in Hoboken, NJ. JP continues to
Karen
Havers W’98
Karen Havers (last name Smith now) and her husband Chris
Smith welcomed the arrival of their twin girls, Rachel Kathryn
and Taylor Nicole, on November 14, 2009, in Wynnewood, PA.
Karen has been working in health care for almost seven years
since leaving the Big 4, and currently is the Assistant Compliance
Offi cer for Main Line Health System outside Philadelphia.
work at the NBA, as a Director of
Marketing. Finally, he is selling
his Manhattan mini-loft studio.
Please contact him at djtakefi ve@
yahoo.com if you know of anyone
looking for an apartment. Listing
link: http://bit.ly/east37.
Kimberly Baltz has been
keeping herself very busy, but
took a few minutes to email me
her exciting news. “I just formed
an LLC, Exodus 35:31 Artistry,
LLC to help me pursue my
writing and artwork. I’ve already
shown my artwork (pastels) in a
gallery in Grand Lake, CO, but
I’m hoping to get it shown in a
Denver gallery as well and possibly
even sell some pieces! I’m also
working on self-publishing some
children’s stories. I just started
working with an illustrator. Once
the illustrations are ready, I’m
going to submit it to a publisher
and have the book printed! It
will be available on Amazon.
com, BarnesandNoble.com, and
available for order at any
bookstore. I’m hoping to have
the fi rst book out by the end of
the year—Frieda Tails, Volume
One: A Tea Party with Frieda the
Fox & Frieda Goes to Town (two
stories). I’m working on my
sixth Frieda story right now and
have two novels I need to work on
as well. Busy! I’m also working on
residential real estate investment
and development deals with my
parents.”
Hope all of you are enjoying the
summer!
Class Correspondent W’99
Hang Kim
210 Poplar Avenue
Wayne, PA 19087
Tel: 610-909-5925
Fax: 303-374-7974
hangk40@yahoo.com
Jackie Kamali and his wife,
Shirley, are thrilled to announce
the birth of their second daughter,
Chloe Kamali, on October 25; she
weighed 7 lbs., 2 oz., and was 20
inches long at birth. They live in
Great Neck, NY, where he is a real
estate developer.
Amy Paul Tunick was recently
promoted to President of Alliance,
the entertainment marketing
agency of Grey Group and
WPP. Amy has been with the
company, where a collaborative
team specializes in developing,
negotiating and activating
buzzworthy marketing and public
relations concepts for brands that
leverage celebrities, television
shows, movies, music, events,
causes, promotions and brand
partnerships, for seven years. She
welcomes new business or
career inquiries and partnership
ideas from brands, agencies or
entertainment properties. Learn
more at www.alliance-agency.
com. Amy and her husband
Jonathan live on Manhattan’s
Lower East Side, where she is
active in the alumni network of
Wharton undergrad’s Lantern
Society.
00 s
Class Correspondents W’00
Tomas Rigo
tomas.rigo.wh00@wharton.upenn.
edu
Jennifer Th omson
jennifer.thomson.wh00@wharton.
upenn.edu
Class Correspondent W’01
Aaron Karo
me@AaronKaro.com
Raja Ramachandran, W’01,
ENG’01, and Richa Misra, C’00,
recently moved to Saratoga, CA.
Raj graduated from Harvard
Business School in June 2009 after
spending fi ve years at Microsoft
in various roles. Richa completed
her internal medicine residency at
the University of Washington in
2007 and proceeded to work for
two years at Harvard Vanguard
as an Internist. With the move
to California, Raj is now an
Associate Investment Manager
with Intel Capital as a part of
Intel’s Accelerated Leadership
Program and Richa is an Internist
with Kaiser Permanente. They also
have two children: Rohan (son, 2.5
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 47

years) and Ruchika (daughter, 1
year), and are eager to reconnect
with other Penn alums in the Bay
Area.
Jon Hoff enberg is now the
Executive Vice President of the
Foundation for Hair Restoration
and Plastic Surgery.
Sugata Ray, WG’01, GrW’09,
completed his Ph.D. in Finance
from Wharton in May 2009.
He married Shalini Bhargava in
Philadelphia in June 2009. After
honeymooning in wine country,
they moved to Gainesville, FL, to
take up their new jobs teaching
at the University of Florida.
They also recently had a cute
little baby boy, Rahul Ray (born
March 2010), who is decidedly
nocturnal and delights in keeping
his mommy and daddy awake at
night.
Fernando Okumura has taken
the role of CEO at Kekanto,
a local services review site in
São Paulo, Brazil, that shares
similarities with Yelp! and other
collaborative guides. He’s also
a partner at ITCapital Ltda., a
digital marketing consulting fi rm
focused on the Brazilian market.
Gina Faarup married Arturo
Cochez on September 2, 2006
in Panama City, Panama. Gina
and her husband are also proud
to announce the birth of their
daughter Georgina Lilla on
December 12, 2009 in Panama.
She weighed 6 lbs., 15 oz. Gina
continues to work at HSBC
where she is Vice President
of Finance. Gina, Arturo and
Georgina are enjoying their time
together as a family in their home
in Panama.
James Casey and his wife
Jocelyn recently purchased a
home in Center City Philadelphia
and are looking forward to
the birth of their fi rst child
in September. James recently
started working for Jocelyn’s
family business, The Faulkner
Automotive Group.
After a successful career in
brand management, Jared Susco
has happily made an industry
shift to higher education by
returning to Wharton as the
new Director of Operations &
Strategy for the Undergraduate
Division. He is also engaged to
Christopher Stearns, L’05, whom
he will marry in Boothbay Harbor,
Maine on Oct. 10, 2010.
Kevin G. Lenaghan, W’01,
WG’08, married Heather Cohen in
a beautiful ceremony in Sonoma
Valley, CA in the summer of 2008.
Kevin graduated from the Wharton
MBA program with honors and
dual concentrations in Finance
and Entrepreneurial Management
in December 2008. He currently
serves as the Research Head for
Multi-Strategy and Arbitrage
Hedge Funds for Cliff water LLC,
an investment advisory fi rm in
New York. In his spare time, Kevin
still enjoys playing classical piano,
skiing and getting into trouble
with his German Shepherd, Roxy.
Lindsay (Matthews) Ball and
her husband, Steve, are thrilled to
announce the birth of their fi rst
child, daughter Elise Aurelia Ball.
Elise arrived on her due date, April
9, 2010; she weighed in at 7 lbs.,
3 oz. and measured 19.5 inches.
Everyone is healthy and happy
in San Diego. After enjoying her
maternity leave Lindsay will return
to her job as a Marketing Manager
for Stewart Title, where she’s been
since 2006.
Michael J. Germano, IV was
promoted to Vice President of
Wealth Management at Citigroup.
He also joined The Watstein
Group in the newly branded Citi
Personal Wealth Management
division of Citi. His nine-advisor
team manages nearly $1 billion
and provides broad-based
fi nancial planning and investment
management for the affl uent with
specialization in fee-based asset
management, estate planning,
corporate stock/option services
and syndicate. Recently, he also
moved to the Upper East Side of
Manhattan.
Sarah Rifaat, W’01, C’01,
married Matthew Glowasky,
W’03, C’03, on November 7,
2009 at the Episcopal Church of
Saint John the Divine in Houston,
Texas, with a reception following
at the St. Regis Hotel. Alumni in
the wedding party included the
groom’s parents, Beth Cardwell,
C’78, M’84 and Albert Glowasky,
C’73, G’75, WG’84; maid of
honor Carine Hejazi, W’03, and
bridesmaids Sarah Aibel, C’03, and
Sheila Evangelista, C’01; best man
Luke Glowasky, C’10; groomsmen
Daniel Oswald, W’02, Nicholas
Stipp, W’03, C’03; and usher
Brian Cooper, W’03. Other alumni
in attendance were David Bard,
W’03, EAS’03, WG’11, Costas
Constantinides, W’02, WG’11,
David Graff , C’01, Benjamin Katz,
W’03, Randy Kessler, W’03, Luke
Panza, C’03, and Max Sung, W’03,
C’03. Sarah and Matt live in New
York City, where she is an attorney
with the French aviation company
Thales and he is a Vice President
with Monarch Alternative Capital
LP, a distressed debt asset
management fi rm.
Farah Nathani, W’01, C’01
married Robert Menzies whom
she met while working in London
shortly after her MBA. They
tied the knot last July in Jersey,
Rob’s hometown in the UK. The
celebrations then continued with
their Indian wedding in Mumbai
over the New Year. Many Penn
alumni were in attendance to
help celebrate including: Patrick
Brett, W’02, Fahd Chinoy, C’01,
Ryan Decker, W’01, C’01, Vivake
Gupta, WG’06, Nisa Godrej,
W’00, Christy Hart, W’00, C’00,
Ashwin Hira, WG’04, Caroline
Issa, W’99, Aleem Jivraj, W’01,
Myrna Jivraj (Majmudar), C’01,
Mukund Khaitan, C’02, Roberto
Kriete, C’02, Ankit Minglani,
W’01, Sumeet Nindrajog,
W’01, Siddharth Parekh, W’01,
Nikhil Shah, W’01, and Thomas
Recchione, C’01. After living in
India last year, Farah and Rob have
now moved back to London and
would love to hear from friends.
Class Correspondent W’02
Sandy Hsiao
Sandy.Hsiao.wh02@wharton.
upenn.edu
Class Correspondent W’03
Alexis Decerbo
adecerbo@yahoo.com
Dennis Mahoney Tupper, W’03,
and his wife, Gina Marie Tupper,
are thrilled to announce the birth
of their fi rst daughter, Reagan
Mackenzie Tupper, on February
28, 2010; she weighed 6 lbs.,
1 oz., and measured 19 inches.
She was welcomed by her proud
grandparents, aunts, uncles,
48 | WHARTON MAGAZINE | SUMMER 2010 EMAIL: classnotes@wharton.upenn.edu
cousins, and friends, including
aunt Catherine Mahoney Tupper,
C’06. Dennis and Gina currently
live in Warren, NJ.
TUPPER
David Barclay, W’03, EAS’03,
and Teri Ikegami Barclay, W’04,
are excited to introduce their fi rst
child, Kylie Alyssa Barclay, to the
world. She was born on March 11
at 6 lbs., 9 oz, and 19 inches. The
growing family lives in the San
Francisco Bay Area where David
works as the Director of Energy
Management for OpenPeak
and Teri is an Asset Manager in
Commercial Real Estate.
Class Correspondent W’04
Keri Vislocky
keri@alumni.upenn.edu
Class Correspondent W’05
Joyce Huang
142 East 49th Street
Apartment 9D
New York, NY 10017
joycehuang@alumni.upenn.edu
Class Correspondent W’06
Daniel Kline
dankline@comcast.net
Class Correspondent W’07
Varun Jalan
Varunjalan01@gmail.com
FAX: +1-215-898-2695

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MAIL: MAI MAIL: L 344 34 344 4V 4 4Vanc V VVance
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SPRING ING N 2010 10 | WHA WWHARTON
HART RTON
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MAGAZINE AGAZ AZINE INE E | 49

Wharton MBAs
Emeritus Society
Correspondent
Hugh Gillespie, WG’49
Gillespie Machinery, Inc.
506 W. Beechtree Lane
Wayne, PA 19087-3299
Tel: 610-688-6028
Fax: 610-688-7470
40 s
Class Correspondent WG’49
Leonard Feldman
1601 Market Street #2525
Philadelphia, PA 19103-2301
Tel: 215-567-8000 ext. 203
Fax: 215-567-5288
lenandjudy@aol.com
50 s
Class Correspondent WG’55
Edgar W. Caterson
343 Camden Lane
Port Charlotte, FL 33953-1596
Tel: 941-743-4257
ecaters@aol.com
Class Correspondent WG’56
C. DeWitt Peterson
310 Pleasant Valley Avenue
Moorestown, NJ 08057-2610
Tel: 856-234-5147
dpeterson53@comcast.net
Class Correspondent WG’57
Philip Murkett
1653 South Perry Street
Montgomery, AL 36104
fi llotmer2@aol.com
Class Correspondent WG’58
Walter S. Bruckner
50 | WHARTON MAGAZINE | SUMMER 2010
5315 Vista Montana
Yorba Linda, CA 92886-5716
Tel: 800-779-2506
Fax: 714-777-5607
wbruckbnm@aol.com
Class Correspondent WG’59
Albert J. Anton, Jr.
2140 Bonnycastle Avenue, #6D
Louisville, KY 40205-1319
60 s
Class Correspondent WG’60
James J. Koch
8801 West Oklahoma Avenue, #312
Milwaukee, WI 53227
Class Correspondent WG’61
Frank Pinkus
18912 La Amistad Place
Tarzana, CA 91356
Tel: 818-705-1885
Fax: 818-705-7465
rfpinkus@sbcglobal.net
Class Correspondent WG’64
Jim Pollak
8610 Parker Place
Roswell, GA 30076
Tel: 678-795-0044
jjpollak@charter.net
Class Correspondent WG’66
Edward R. Raupp
Georgian University of Social
Sciences
77 Kostava Street, V Building
Tbilisi 0175, Georgia (Republic)
Tel: +995 99 19 87 17
edraupp@gmail.com
Class Correspondent WG’67
John W. Th ompson
Th ompson, Plumb & Associates, Inc.
1200 John Q. Hammons Drive
Madison, WI 53717-1940
Class Correspondent WG’69
Karel J. Samsom, PhD
70 S. Winooski #111
Burlington, VT 05401
ksamsom@mac.com
Charles Kurz retired from
Keystone Shipping Company as
president emeritus, after nearly
35 years with his family’s marine
transportation business, which
was started by his grandfather in
Philadelphia.
Charles continues his work
with the Kurz Family Scholarship
Fund at Penn, which benefi ts
Wharton students interested in a
career in transportation. Beyond
his life in the maritime industry
he is enjoying a new career of
“redeployment,” doing a variety
of philanthropic fundraising work
as a trustee for several charitable
organizations, such as the Webb
Institute, Camp Tecumseh and
Valley Presbyterian Foundation.
He recently became president
of the Valley Presbyterian
Foundation where his focus is on
planned giving for growing his
church’s endowment.
Karel J. Samsom continues his
work through university seminars,
public speaking and consulting in
the U.S. and Europe. The strategic
new business opportunities at
the intersection of economy
and ecology are growing at a
phenomenal pace. Still, most
companies don’t yet understand
the full, profound, fundamental
and physical changing
relationships between economy
and ecology. As a result, they miss
out on vast arrays of emerging
and profi table new opportunities.
As one example, it was recently
reported (Roper) that the fastest
growing variable in the wide array
of purchase motivations is neither
price, nor quality or usefulness.
It is the perceived values of the
company producing these goods
and services. Samsom writes:
“My time at Wharton, 40 years
ago, set me on a fantastically
varied career path taking me
all over the world and in a
variety of international business,
entrepreneurial and educational
occupations. As a prime example,
Prof. Howard Perlmutter was one
of the pivotal infl uences in my
life, who taught me long before
it was “fashionable” in business
education that a systemic and
holistic, people-based approach
to worldwide business would be a
winner in all respects.”
70 s
Class Correspondent WG’70
Donald Short
donlynnshort@verizon.net
After 40 years in commercial
banking in several banks in the
Midwest and the East, the most
recent being ECB Bancorp, Inc.
[The East Carolina Bank], a
community bank headquartered in
Englehard, NC, where he served
as President/CEO and Director for
the last 15 years, Arthur Keeney
has announced his retirement.
He will continue to be involved
in many statewide and regional
activities and directorships, but
looks forward to traveling with
his wife, Alice, to include more
frequent visits to their three
children in Tampa, Baltimore and
Rochester, NY. Art “looks forward
to, and fi nally has the opportunity
to manage his calendar instead of
his calendar managing him!”
On December 4, 2009, the
Consul General of the Netherlands
PAAP
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

in New York, on behalf of Queen
Beatrix, bestowed the Knighthood
in the Order of Orange Nassau
onto Henry P.M. Paap, Honorary
Consul to New England from 1997
to 2008. The decoration was in
recognition of Henry’s dedication
as Consul to foster relations
between the Netherlands and
the New England states. Henry
was born in the Netherlands and
came to the U.S. in 1965. He has
been a citizen since 1970, and
he and his wife Judy reside in
Wellesley, MA.
Class Correspondent WG’71
Kathy Jassem
1764 Russet Drive
Cherry Hill, NJ 08003
Frank X. Speidel has been
appointed chief executive offi cer of
St. Luke’s Hospital at The Vintage.
Dr. Speidel will manage all aspects
of the new hospital, including
staffi ng, operations, marketing
and regulatory compliance. He
maintains his board certifi cation
in emergency medicine.
Class Correspondent WG’72
Joan Eisenberg
176 East 77 Street, #2F
New York, NY 10021
Tel: 212-879-9013
Fax: 603-288-0429
Joaniris@aol.com
Class Correspondent WG’73
Charles P. Rogers
Fax: 303-442-1073
charles_rogers@brown.edu
Class Correspondent WG’74
Carmen (Jones) Hill
chill@citihousing.com
Class Correspondent WG’75
Jeff rey B. Rotwitt
Obermayer, Rebmann, Maxwell &
Hippel, LLP
One Penn Center, 19th fl oor
1617 John F. Kennedy Boulevard
Philadelphia, PA 19103-1895
Tel: 215-665-3052
Fax: 215-665-3139
jeff rey.rotwitt@obermayer.com
Class Correspondent WG’76
Soussan Manouchehri Arfaania
1505 Wilson Terrace, Suite #155
Glendale, CA 91206
Fax: 818-887-7809
kdmg99@aol.com
Gordon Logan, founder and
CEO of Sport Clips, the nation’s
leading hair care franchise
dedicated to men and boys,
and his wife Bettye, Sport Clips
vice president, were recently
recognized with two Georgetown,
Texas-area philanthropy awards.
The Georgetown Chamber of
Commerce presented the Logans
with the Jesse (Buz) Sawyer
Philanthropy Award for their
signifi cant contributions to the
Georgetown community. The
Logans also recently received,
for a second time, the Jeremiah
Milbank Society recognition for
outstanding contribution to the
Georgetown Boys & Girls Club.
Class Correspondent WG’77
Tad LaFountain
41 Fairway Drive
Princeton, NJ 08540
Tel: 609-924-6580
aalaf3@alumni.upenn.edu
Class Correspondent WG’79
Robert C. Schneider
12 Reeve Road
Rockville Centre, NY 11570-1120
RSchneider@cuddyfeder.com
Gary Gensler was profi led in a
story in the March 11, 2010 edition
of The New York Times entitled
“A Convert to Reform.” He was
also written up in an article in
the March 11, 2010 edition of
the Wall Street Journal entitled,
“CFTC’s Gensler Criticizes Wall
Street on OTC Regulation” and an
article in the April 1, 2010 edition
of the Washington Post entitled,
“U.S. May Curb Energy Market
Trading.”
Since graduation Barbara Kellc
has spent her fi nancial career
with Citibank and Credit Agricole
(formerly Credit Lyonnais)
heading up teams in securitization
and loan syndications. She
recently changed gears and joined
Halstead Property in its Upper
West Side Manhattan offi ce
specializing in residential sales.
Barbara has lived on the Upper
West Side of Manhattan since
graduation with a brief two-year
stint in Los Angeles. She would
love to hear from other classmates.
Her email address is: bkellc@
halstead.com.
Robert Bowman, former
Michigan State Treasurer and
currently the CEO of baseball’s
online and interactive media
operation, was reported in the
February 12, 2010 edition of USA
Today to have fi led the paperwork
Thursday with the State of
Michigan Secretary of State to
form a committee to explore a
run for Michigan’s Democratic
gubernatorial nomination.
This was also reported by the
Associated Press and elsewhere.
Lisa Fitzig is bringing the
same level of success to real
estate sales that she enjoyed
throughout her 30-year career on
Wall Street. During her fi rst year
with the Corcoran Group, she sold
several million dollars’ worth of
Manhattan real estate and was
named Corcoran’s 2009 Rookie of
the Year/Manhattan. Specializing
in New York brownstones,
condominiums and town houses,
she is committed to providing
sophisticated service for her
clients’ unique property needs.
Prior to joining Corcoran, Lisa
was Deputy Head of the Global
Industrial Group, Investment
Banking for Citigroup, where
she managed a team of 150plus
professionals who called on
industrial and infrastructure clients
worldwide for investment banking
services, merger and acquisitions,
equity and debt. She also held
positions as Chief Operating/
Administrative Offi cer for the
Mergers & Acquisitions Group at
Citigroup and Managing Director
for the Public Finance Department
at Lehman Brothers. Her
impressive business experience is
a direct refl ection of her extensive
educational training. Prior to
receiving her MBA in Finance and
Accounting, Lisa earned a B.A. in
Political Science from Georgetown
University in Washington, DC
(with her junior year at the London
School of Economics).
80 s
Class Correspondent WG’80
Bob Shalayda
39 Wallace Road
Summit, NJ 07901
rshalayda@ieee.org
Marilynn Katatsky, Senior Vice
President, Morgan Stanley Smith
Barney, LLC, attended the fourth
annual Barron’s Winner’s Circle
Top Women Advisors Summit,
hosted by Barron’s magazine to
promote best practices in the
industry and the value of advice
to the investing public. The
invitation-only conference was
held at The Breakers in Palm
Beach, FL, December 2–4, 2009.
Katatsky was one of the more than
400 fi nancial advisors who were
selected by their fi rms to attend
and participate in the event.
Also participating were 81 of
the Top 100 Women Financial
Advisors in the U.S., as ranked
and published in Barron’s June 8,
2009 issue. This annual ranking
is the basis for the Top Women
Advisors Summit and the fi nancial
advisors are chosen based on the
volume of assets overseen by the
fi nancial advisors and their teams,
revenue generated for the fi rms,
and the quality of the fi nancial
advisors’ practices. The top 100
is composed of fi nancial advisors
from major security fi rms and
independent operations. “It was
an honor to be a part of this event
and to meet other professionals
who share the same integrity
and passion for this industry,”
said Katatsky. “Discussing best
practices one-on-one with the
top fi nancial advisors across the
country was a unique experience.
It will be benefi cial to bring these
insights back to my fi rm and my
clients.”
Class Correspondent WG’81
Alan M. Sooho
11 Veterans Aff airs Medical
Center
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 51

5500 Armstrong Road
Battle Creek, MI 49015
sooho@mymailstation.com
Class Correspondent WG’82
Andy Cross
142 East Oak Avenue
Moorestown, NJ 08057
Tel: 609-734-9300 (x101)
andycross@mindspring.com
Ray Katz writes: “I left Optimum
Sports in September 2009
to join the rapidly growing
Leverage Agency, a property
consulting content development
and sponsorship sales company
focused on sports and branded
entertainment.”
Class Correspondent WG’83
Taz Rajwani
tazrajwani@yahoo.com
Satish Jindel writes: “For over two
years now, I have been appearing
on Bloomberg TV (“Taking
Stock”) and Bloomberg Radio to
speak about the developments in
the transportation industry and
various public companies such
as railroads like UP, NSC, global
carriers like UPS, FedEx, trucking
companies like YRCW, JBHT,
and even airlines. I continue to
manage my two small businesses:
SJ Consulting Group, Inc.,
which focuses on management
consulting work for transportation
providers, and ShipMatrix,
which is technology solutions
for companies that utilize the
services of UPS, FedEx, DHL, etc.
I continue to reside in the suburbs
of Pittsburgh and also come into
NYC often and welcome hearing
from and meeting classmates
and other Whartonites who have
similar interests.”
Class Correspondent WG’84
Larry Bartimer
10 River Lane
Westport, CT 06880
Tel: 203-222-0622 (home) and
914-328-6660 (work)
bartimer@optonline.net
bartimer@thepsg.com
Dear Wharton 1984 Classmates:
Thanks again for your
52 | WHARTON MAGAZINE | SUMMER 2010
submissions. I have now reached
out to 150 classmates over the
past 10 issues! Only another 600
to go! Please write me and don’t
wait for my call or email. If you are
reading this issue, please take a
few minutes and send me an email.
Much of the contact information I
have is dated, so I am counting on
you. —Larry Bartimer
David Shapiro writes: “I am
currently a Vice President in
Wealth Management at Neuberger
Berman LLC in New York. I have
worked in New York for the past
25 years, at CBS, Drexel Burnham
and Goldman Sachs. After nearly
13 years in Institutional Equity
Sales with Goldman, I left at the
end of 2002. During those years,
I became involved with student
recruiting and training, and I used
to look forward to visiting Wharton
and interviewing students there
a couple of times each year. After
I left the fi rm, I fi rst assisted a
friend who was developing a new
hedge fund and then consulted to
the head of a brokerage fi rm. Five
years ago I joined Neuberger
Berman, which had long been a
client while I was in institutional
sales. I am a wealth advisor and
consult to individuals, families,
endowments and foundations. I
have especially enjoyed working
with educational endowments
and arts foundations. From
time to time, I have kept up with
Tom Goldstein and Ben Rose,
and I occasionally run into our
classmates at Penn and Wharton
events. I live in the city with my
wife, Yael, and our two teenage
sons.”
Richard Dine writes: “As of
February 2010, I took a new
position as a Training Specialist
with the National Archives and
Records Administration, helping
a new team there develop ways to
better protect the archival record
of the United States. Wharton’s
alumni network and several Class
of ’84 alumni were very helpful
and encouraging during my job
search.”
Dan Stauder writes: “After
school I went to DLJ in their
institutional equity sales group
in NY. After a year I went out to
help open their Chicago offi ce
and have been here ever since
(was at DLJ for eight years). After
that, I became an early partner
in a start-up boutique called
Vector Securities, focusing solely
on health care and in particular
biotechnology. We sold the fi rm
to Prudential in 1999 and I stayed
on for a couple years before
starting my own broker/dealer,
EHS Securities, in 2001. I wrapped
that up in 2005 and did a brief
stint in RW Baird in health care
investment banking. In early 2007,
I joined an old Vector partner, as
well as an old Wharton classmate
(Joe Jolson), at JMP Securities. I
head up JMP’s Healthcare Equity
Capital Markets eff ort. I live in
Lake Forest, IL, which is about 35
miles north of Chicago on Lake
Michigan. My wife Sara and I have
four kids. We have a child who is a
junior at Penn, a high school senior
(Cally), a sophomore (Danny)
and fi nally a 6th grader (Sally). I
keep in touch with Tom Flanagan
and Dick Wallach pretty regularly.
I obviously see Joe Jolson, and
occasionally catch up with Joel
Hausman.”
Sharon Fairley writes: “I am
living in Chicago where I have been
for almost seven years. After 20
years in advertising and corporate
marketing I decided to make a
change to public service. I went to
University of Chicago Law School
and fi nished in 2006. Although I
never imagined becoming a trial
attorney when I started law school,
I quickly developed an affi nity for
criminal law. I am currently an
Assistant United States Attorney
here in Chicago. Most recently, my
work has been focused on narcotics
and gang cases. It has defi nitely
been the most challenging yet
rewarding professional experience
I’ve had. Regarding life in Chicago,
after spending most of my adult
life in and around New York, it
took me a while to adjust, but I’ve
come to enjoy Chicago very much,
particularly this time of year.”
Rolando Espinoza writes: “After
graduation I worked at GTE until
1996, then spent an additional
nine years in the telecom industry,
mostly with a series of venturebacked
start-ups and mergers
as the industry expanded, then
contracted. Four years ago I
started a consulting practice, where
my small team and I help fi rsttime
entrepreneurs and family-
owned businesses. After so many
years in the corporate world,
it’s a real joy to help these very
knowledgeable, but not classically
trained, business owners enter
new markets, make process
improvements, truly understand
their cost structure, or create their
fi rst strategic plan. My wife Zoe
and I are celebrating our 30th
anniversary this month. Since
leaving Philadelphia we have
gotten to “see the country,” living
in Indianapolis, Connecticut, San
Francisco, Tampa, and fi nally
settling down in Dallas in 1997.
I always fi nd it hard to believe
that it has been 26 years since
Wharton. The memories are so
fresh I always feel like it was just a
short time ago, that is, until I see
my 25-year-old son, Ben, or my
daughter Elizabeth who is turning
20. I want to thank Larry for his
perseverance and for keeping us
connected through these class
updates.”
Mary Jo Bernard writes: “Has
it really been over 25 years?! After
Wharton, my husband Alan and
I moved back to the West Coast
and have worked in a variety
of positions with computer,
networking, and Internet-related
companies. Our daughter Lisa
received a physics degree from
Yale two years ago and is in the
next generation of technology—
solar power. I guess we’re a real
Silicon Valley family.”
David (Bud) Bell writes (update
since his last submission in the
Fall of 2009): “My company,
Advanced Performance Naturals,
launched its fi rst consumer
product. It is an all-natural, highperformance
anti-aging skincare
cream called Eselemme. It is
based on a patent-pending soy
lipid formula that imitates the
skin’s own lipid signature and
helps preserve healthy skin cell
function. It also smells and feels
great! You can learn more about it
at www.eselemme.com. Kathleen
(Burkhalter) and I remain busy
with the kids and school.”
Vince DePalma writes:
“In August 2009 I became
President and CEO of Shredit
International, based out of
Toronto, Ontario, Canada. Shredit
is an international document
destruction company, operating
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

140 service centers in 16 countries
worldwide and servicing over
150,000 global, national, and local
businesses. Prior to Shred-it, I
was President of Pitney Bowes
Management Services based in
Stamford, CT and a Corporate
Offi cer of Pitney Bowes. Prior
to joining Pitney Bowes, I was
President of ADP Benefi t Services
based in Alpharetta, GA, and a
Corporate Offi cer of Automatic
Data Processing (ADP). On the
personal front, I married Carol
(Conkling) De Palma. We have one
daughter, Kelly, who is fi nishing
her sophomore year at Villanova
University. Go Wildcats! When
not working, I enjoy golf, exercise,
reading and cooking. I have not
seen too many Wharton grads
recently. I did see Sam Chapin
about two years ago and ran into
Tom Flanagan at a golf course in
Kiawah, SC, about the same time.
I currently sit on the board of
directors of the Thomas Hartman
Foundation for Parkinson’s
Research.”
Anne Punzak Marcus writes
from Boston: “First I would like to
thank Larry for being so persistent
and patient with me. Larry, I
applaud your eff orts, and have
enjoyed reading about my former
classmates. After Wharton I
joined Fidelity Investment’s Fixed
Income Group, where I worked
as an analyst, portfolio manager
and Research Director. I retired in
2002, though still enjoy following
the markets. Since leaving Fidelity,
I have focused on developing and
funding collaborative scientifi c,
clinical, educational research
to improve the lives of children
with neurological disorders. I
have two sons: Robbie, who is
16, and Christopher, who is 11.
Robbie has cognitive delays and
other neurological disabilities as a
result of a prenatal stroke. As my
husband Paul Marcus and I began
to explore the area of medical
research, we became frustrated
by the lack of collaboration
across institutions, and between
researchers and clinicians. In
2005, we helped to develop a notfor-profi
t organization called The
Autism Consortium. The mission
of The Autism Consortium is to
catalyze rapid advances in the
understanding and treatment of
autism by fostering collaboration
among a community of clinicians,
researchers, donors and families.
Currently, the Autism Consortium
(www. Autismconsortium.org)
has 74 research and clinical
members representing 15 medical
and academic institutions. All of
our member organizations have
pledged to share their research. We
have had a couple exciting research
discoveries and are confi dent
that this model is transferable to
other disorders. I would love to
connect with any classmates who
have children with neurological
disabilities, and would be happy to
share information about the Autism
Consortium. I can be reached at
anne1229@aol.com.”
Class Correspondent WG’85
Kent Griswold
1336 Gypsy Hill Road
Lower Gwynedd, PA 19002
Tel: 215-540-0811
kentgriswold@yahoo.com
Class Correspondents WG’86
Elizabeth Wilkins
thewilkyway5@aol.com
David Bigelow
david.bigelow.wg86@wharton.
upenn.edu
Thanks to Jeff Hewitt and Mark
Vonderheide, I’ve stumbled upon
a way to get news from the remote
and the reluctant. Seeing their
names mentioned in passing in
the last column, both emailed
me with some actual news. Jeff is
enjoying working in private equity
with ESS Funds in Houston. He
and his lovely wife Naomi, whom
some of you may remember from
Wharton days, have two teenage
daughters, the oldest of whom,
Ann, was recently accepted to
Wharton and Penn Engineering!
Jeff has kept in touch with Chris
Brewer, who is at Ford in Detroit
and “has at least four kids.”
(Perhaps this will motivate Chris
to write in and clarify.) Jeff lost
touch with Jim Peters when he
moved from Houston back to
“Pennsylvania somewhere, I think
west of Philadelphia.” (Again,
vagueness soliciting clarifi cation.)
When Jeff last bumped into Jim
John Selsky G’78,
GrW’88
John Selsky, G’78, GrW’88, associate professor of
management at the University of South Florida Polytechnic,
will receive the Walker Prize from the Human Resource
Planning Society at its 2010 Global Conference in April. Th e
award recognizes the article, “Building Agility, Resilience and
Performance in Turbulent Environments,” which Selsky wrote
with his colleagues Joseph McCann (Jacksonville University)
and James Lee (University of Tampa). “Th ese are troubling times
for many businesses, fi lled with disruptions and threats,” says
Selsky. “Our research found that managers in many parts of
the world are concerned. I hope our work can help some fi rms
become more agile and resilient so they can cope better.” HRPS
established the Walker Prize in 1997 to honor the monumental
work of its founder and guiding spirit, James W. Walker. Th e
prize celebrates the tradition of vision, quality, and innovation.
It is awarded annually to the paper, article or commentary
published by Th e Human Resource Planning Society that
best advances state-of-the-art thinking or practices in human
resources. Th e second, updated edition of Selsky’s book,
Business Planning in Turbulent Times: New Methods for Applying
Scenarios, which he edited with with Rafael Ramirez and Kees
van der Heijden from Oxford University, is being published this
month by Earthscan Press. It includes a new chapter on the
global fi nancial crisis. Selsky joined USF Polytechnic in 2005
aft er teaching for many years in New Zealand and Australia. He
earned a Ph.D. from Wharton.
at the Houston airport two years
ago, he was working as CEO of a
private equity portfolio company
on a turnaround. Prior to that,
Jim had been a consultant for
McKinsey and Alix Partners. Mark
Vonderheide was in NYC trading
oil futures at Deutsche Bank when
Jeff and he last spoke. Mark is
still living in Manhattan with wife
Cecilia (a Harvard B-School grad)
and their three children, but he left
Deutsche Bank and started an oil
trading company a couple years
ago. I’m pleased to report that
Mark and Cecilia, as well as Jeff
and Naomi, plan to attend our 25th
reunion!
I have yet to hear from many
of the rest of you, but those
illustrious enough to end up on
the cover of this publication, like
Mehmet Oz, are freed from their
obligation. Though surely the only
person who has not seen Dr. Oz
on TV, I was introduced to him
by his sister Seval Oz Ozveren
while at Wharton. I only recall
her mentioning that he was in
medical school, but I guess he
fi gured he’d tack on an MBA while
he was in Vance Hall. (I should
have gotten his autograph before
he became famous. Ditto for Brad
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 53

Pitt in 1989, but that’s another
story.) Because I read the Wharton
Magazine article, I was able to
answer my father-in-law’s query
as to whether Mehmet is related
to Mustafa Oz. Unlike me, my
father-in-law has seen Mehmet on
TV and even follows his advice.
Wilmington is a small town, so it
turns out that Mehmet’s father
Mustafa, an ob/gyn physician, used
to rent lab space in Dr. Wilkins’
veterinary offi ce so he and his
colleagues could practice nonob/gyn
surgeries on dogs. The
objective was to obviate the need
to call in a general surgeon during
their gynecological surgeries
should an unforeseen ancillary
surgical need arise. (Enterprising,
brilliant! Like father, like son.) My
father-in-law just anesthetized the
dogs but enjoyed learning a thing
or two in passing. So, all of you not
planning to appear on the cover of
this magazine, please write in so
your classmates can learn a thing
or two about you in passing.
Class Correspondent WG’87
Matt Hoff man
60 Temple Place, 2nd Floor
Boston, MA 02111
Tel: 617-523-6700
Fax: 617-367-2265
mhoff man@wunr.com
Class Correspondents WG’88
Mary Leonida
Polaris Companies
6901 Shawnee Mission Parkway,
#420
Overland Park, KS 66202
Tel: 913-262-1565
Fax: 913-262-0433
mleonida@usapolaris.com
and
John-Paul Duff ey
jpduff ey@lockton.com
Yasuhiro (Yasu) Oshima has
joined Barclays Capital as
Managing Director, leading eff orts
to provide strategic solutions to
fi nancial institutions based in
Tokyo. He, having spent the last 17
years at investment banks such as
Lehman, Merrill and J.P. Morgan,
remarks that fi nally the economic
and fi nancial cycle in Japan
seems to be picking up and he is
excited to be able to contribute to
54 | WHARTON MAGAZINE | SUMMER 2010
the creation of a trusted advisor
relationship through strategic
dialogue with major fi nancial
institutions to help them grow in
the post-crisis setting.
Tom Jenkins, a native Texan,
attended Texas A&M University
where he served in the Corps
of Cadets and as the Business
School’s Student Council
President. In addition to his
studies at the Texas A&M business
school, Tom has also received the
Certifi ed Investment Management
Analyst designation from Wharton
Executive Education. Tom is
the head of a fi nancial advisory
practice within the fi rm of Merrill
Lynch. He manages nearly $600
million for 85 wealthy families
and individuals, which include
senior corporate executives,
business owners and retirees. With
nearly 20 years of experience as a
fi nancial advisor, Tom is practiced
in utilizing risk management
and prudent fi nancial planning
strategies to assist his clients
in managing all aspects of their
wealth and fi nancial needs. Tom
has been given the honor of not
only advising his clients, but
having his clients introduce his
services to their children and their
children’s children—“becoming
an advisor to a family and helping
continue their legacy is my
most treasured honor.” Tom has
obtained membership in Merrill
Lynch’s Director’s Circle, which
places him among the Top 1
percent of fi nancial advisors in one
of the world’s largest investment
fi rms. Tom also continues to
be honored with recognition as
one of the Barron’s Top 1000
Financial Advisers, a ranking
across the country and among
all industry fi rms. In addition,
Tom was also ranked among the
Top 40 of all fi nancial advisors
under 40, across the country and
among all industry fi rms (“Top
40 Under 40,” OnWallStreet).
Tom speaks throughout the
Merrill Lynch system to fi nancial
advisors nationwide as his
practice is well-regarded as one
of the top providers of fi nancial
advisory services in the Firm.
Tom is an active leader in his
community, where he serves as a
Committee man for the Houston
Livestock, Show & Rodeo. He
sits on the board of the Theatre
Under The Stars, serves on the
Development Board for the
Houston Pregnancy Help Center,
serves on the Advisory Board for
the 12th Man Foundation (the
athletic foundation for Texas
A&M University) and serves on
the Finance Committee for his
church, Houston’s First Baptist
Church. In addition to community
stewardship, his heart is in
enjoying outdoor adventures;
including hiking, snowboarding,
fl y-fi shing, golf and just about
any park his kids wish to visit.
Tom and his wife Amanda live in
Houston, TX with their daughter,
Olivia Grace; their son, Dylan
Thomas; and their newborn
daughter, Sofi a Taylor.
Class Correspondent WG’89
Patricia (Berenson) Bogdanovich
920 Shippen Lane
West Chester, PA 19382
Tel: 610-661-1697
pbogdanovich@comcast.net
Hillerich & Bradsby Co., the
126-year-old makers of Louisville
Slugger® bats, gloves, and
other baseball and softball
equipment, has announced Sean
Collins as a new board member.
Collins is the co-founder of
Partner Advisors, a fi nancial
services partnership development
and management company in
Wellesley, MA. Prior to starting
Partner Advisors, Collins led
partnership development teams
and managed products and
consumer marketing programs at
American Express, Bank One and
Fidelity Investments.
The Washington Post recently
posted an article entitled,
“Anonymity: A secret fi x for
campaign fi nance,” by Marc
Geff roy. Since 1988, Geff roy has
developed, leased and fi nanced
retail, fl ex and offi ce projects
throughout the mid-Atlantic and
southern California markets.
He has held executive positions
with KLNB, Trammell Crow
Commercial, South Charles
Realty and J.P. Morgan. He earned
an MBA from the University of
Pennsylvania’s Wharton School in
1989 and a bachelor of arts degree
in economics from Haverford
College in 1984. Geff roy is also an
Adjunct Professor of Finance at
the Carey School of Management
of Johns Hopkins University; he
teaches commercial real estate
investment theory in the master’s
program there. He lives in Chevy
Chase, MD with his wife and three
children.
Patrice van de Walle is working
on an IPTV show called “The
Great Kitchen Table Debate.” He
writes: “We are going into people’s
kitchens around the UK to fi lm
their kitchen table conversations.
We did one in London and one in
Glastonbury with druids. Topics
range from global warming, to the
Olympics, voting, “free” digital
music, and Ecocide (killing of
natural habitats). We’ll be airing
the videos on positivetv.tv.”
Bill Britton lives in Ft.
Lauderdale, FL, with his wife
Erica and their three kids (Zach,
17; Alex, 15; and Lauren, 10). Bill
writes: “Zach is off to college in
one more year so we are trying
real hard to enjoy our time
together. We continue to travel
amidst a crazy schedule and all
is well. Erica is still doing health
care consulting and started a
new elderly care business, and
I founded and run a boutique
investment banking group. All
visitors to south Florida are
welcome and encouraged to give
a call (954-410-1936) and stop
by. We love visitors.”
Jeff Goldberg, W’83, WG’89,
writes: “While many of my
classmates are thinking about
getting their kids into Penn, I
decided to take advantage of the
economic slowdown by having
twins a year ago April. Logan and
Riley (W’2027) join their 7-yearold
brother Jake (W’2020). Nicole
and I live in Short Hills, NJ, and
couldn’t be both happier and
more exhausted! On the business
front, I had been running equity
investments for Insignia Financial
Group for 14 years and when
they merged with CB Richard
Ellis in 2003, I started my own
company called The Milestone
Group. Today, Milestone owns
and manages 40,000 apartment
units across the country, and is
headquartered in New York and
Dallas.”
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

90 s
Class Correspondent WG’90
Jennifer Taylor
8030 Monticello Drive
Atlanta, GA 30350
jenntaylor1@aol.com
Class Correspondent WG’91
Chris Malone
32 Springton Pointe Drive
Newtown Square, PA 19073
cbmalone@mindspring.com
We’ve got updates from 5 of our
WG’91 classmates this time!
Also, in addition to this magazine
column, all current and many
previous updates for our class are
now available online and unedited
at our class website, www.WG91.
com. I also have an email address
for everyone listed here, so let me
BRITTON
know if you need help contacting
anyone.
Sharon (Rappoport) Bell: “I’ve
taken a job with Just Kid Inc, a
marketing strategy, innovation and
consumer research consultancy in
Norwalk. Been working with them
as a consultant for the past seven
months and I just accepted a perm
job.”
Rob Cain: “Together with
my Stanford MBA business
partner I’ve been writing a
fi nancial blog focused on picking
U.S.-listed Chinese small cap
stocks, mainly OTC stocks that we
anticipate will uplist to NASDAQ
or AMEX. Our portfolios were
up 150 percent in 2009, and up
another 21 percent in the fi rst
quarter of 2010. So far we’ve
treated it as a hobby, but with web
traffi c and readership booming
we’re beginning to consider
turning it into a business. You can
fi nd us at http://chinaotcplayer.
blogspot.com. I’m also still
producing, with a couple of feature
fi lms in the works, a TV reality
series with the creators of HBO’s
“Hard Knocks” that will focus on
aspiring minor league baseball
players, and a major live event
in Las Vegas called “America’s
Wedding” that will celebrate
love and marriage with major
music performers, celebrities and
thousands of couples from around
the world.”
George Hongchoy: “I joined
Link Management Limited in
January as CFO. I will become
CEO later this year. Please refer
to: http://www.thelinkreit.com/
en/press_news/press_release.
asp?prid=923.”
Theresa (Gende) Clouser: “I
recently had dinner with Brent
Baum, Gary Skraba and Chris
Malone in Los Angeles. We had
a great time catching up on each
other’s recent exploits.”
Chris Malone: “After commuting
from Philly to DC every week
for the past two years, a few
months ago I decided to forego
the corporate world and started
a new venture. It’s a researchbased,
sales, marketing and HR
consultancy focused on helping
fi rms measure, manage and
strengthen the key business
relationships that drive their
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Class Correspondent WG’92
Rick Tullio
1717 Pine Street
Philadelphia, PA 19103
richard.tullio.wg92@wharton.
upenn.edu
Cohort A rep
Randi Smith
randi.smith@comcast. net
Jeanette Ourada has moved back
from Thailand. She is still with
Chevron, as General Manager of
Investor Relations, and living in
Walnut Creek. She just returned
from a ski trip with Kathleen
Conterno’s family.
Franciso Martinez-David sends
greetings from rainy Madrid. He
and his family enjoyed Disney
World and NYC where he met up
with Jeff Aroy. If any Cohort A
members are planning on traveling
to Spain this summer, please let
him know!
Dave Creamer saw BJ Fair while
in Scottsdale and reported
that Jim O’Connell was fi red up
about Duke winning NCAA.
Cohort B rep
Karen Levine
karenlevinewg92b@aol.com
Alister Campbell submitted the
following update from the hockeyplaying
nation to my north: “I
had the pleasure of seeing fellow
WG’92 Cohort B chum Bradford
Richardson last Fall for dinner
and a round of golf when he came
up to our North Country Canada
cottage in Muskoka. Bradford is
President of Shaklee International
these days and claims to spend
his time golfi ng and traveling
for business in Asia. His low
handicap seemed to suff er from
some unfortunate FX eff ect
when converted to a score on a
Canadian Shield golf course. But
good resolutions were made for a
re-match in 2010!”
56 | WHARTON MAGAZINE | SUMMER 2010
Omer Malchin wrote in from
Palo Alto (and Port-au-Prince):
“Nittai (my son and a junior in
high school here in Palo Alto), with
a bit of my help, initiated One Love
Advocates (www.oneloveadvocates.
org) a few months ago. His
mission is to do whatever possible
to improve access to education in
communities that are struggling
with destructive or endemic
problems. His immediate focus is
helping kids in Haiti gain access to
educational opportunities.
As part of that, Nittai raised
money to start with ($15,000
before the trip... more coming),
and he went (I was with him) to
Haiti for a week—after setting
some links and connections in
Port-au-Prince and outside of
the big city. In Haiti the focus is
working with kids in tent schools,
documenting what he sees and
learns, and deciding where is the
best focus of money and eff orts
going forward. We were mainly in
tent schools doing stuff .
We are planning a second trip in
June with more people (4-5 kids)
and to more places. We also got
interest from other schools around
the country to adopt schools
there, etc. The idea is to involve
as many people who want to help
as possible—with One Love—
through donations, volunteers,
etc., so the next 2-3 months will be
interesting.”
Here, by the way, is one of
Nittai’s blog entries: “Among the
most exciting moments during
our trip in Haiti came during our
visit to a tent school in which
we showed a class how to use
a computer for the fi rst time.
Using a portion of the money
that we raised, we purchased
one HP laptop along with one
HP printer. We installed a ‘photo
booth’ type of program on the
computer along with ‘Paint’ and
other such interactive and fun
applications. Next, we were able
to fi nd a technician named Carl
(who speaks Creole) who we hired
and was willing to help us launch
a program through which we
would teach children how to use
computers.
The pilot program now has Carl
cycling through the 14 diff erent
Prodev schools, going to each
school every couple weeks, and
MALCHIN
ultimately teaching them how
to use the computer and printer.
Although this may seem trivial
to you and me, Haitian children
have, for the most part, never used
a computer in their entire lives…
In the near future we are also
planning to add Internet access
to these lessons and eventually
connect schools in Haiti to schools
here in the U.S.”
For those interested in donating
to these eff orts, there is a place to
do so on the One Love website.
Joan Adams submitted a few
snippets: “The kid keeps growing.
Owning a 100-year-old house is a
full-time job. Thanks to the rain, I
am conducting a not so interesting
mold experiment in my backyard
(yes, here in NYC—I actually have
one). Spoke to Bill Webb, WG’93,
after he saw me on TV getting
interviewed on the Campbell
Brown show. My website is being
redone as I write—so by the time
this is published it should be UP
AND READY at www.pierian.net.
I have a couple blogs going and
Twitter, too.”
I ran into Michael Ippolito in
the lobby of the Harvard Club
early in February. He was there
preparing for an event that his
company sponsored in March.
Michael now covers the Northeast
region for Hay Group and splits
his time between Philadelphia and
New York, focusing on Financial
Services and Life Sciences. Hay
Group co-sponsored an event with
the Wharton Club of Philadelphia
that was held at the Union League
in Philadelphia on June 16.
Professor Jeremy Siegel was the
keynote speaker, and there was a
panel discussion on the future of
the global enterprise.
I saw Paul Bascobert at a
recent WIMI (Wharton Interactive
Media Initiative) conference that
was held here in New York in
April. The conference addressed
the “Future of Publishing” and
Paul, as the new president of
BusinessWeek, was one of the
expert panelists. His panel was
moderated by Marketing Professor
Pete Fader, who is co-director
of WIMI. Paul was appointed
president of BusinessWeek shortly
after Bloomberg acquired the
publication in December. Prior
to this position, he was chief
marketing offi cer for Dow Jones’
consumer media group. The
keynote speaker for the conference
was Martin Nisenholtz, C’77,
ASC’79, who is the CEO of New
York Times Digital and holds two
Penn degrees.
In March, I had the opportunity
to attend WIMI’s “Interactive
Retailing” conference, which was
held at the executive offi ces of
Macy’s. The conference was also
attended by Carl Cohen, WG’85,
whom I had met at a Wharton
event earlier in the year. I also
had the good fortune to meet
Michelle Hankin, W’97, at that
Wharton event. Michelle is Vice
President/Account Director at
Grey Advertising. In February
I attended a (non-WIMI) panel
during Social Media Week. One of
the expert panelists at that event
was Lauren Hobart, C’90, who
is the Chief Marketing Offi cer
of Carbonated Drinks for Pepsi
North America.
As for me, in addition to
attending lots of great conferences
and blogging about them at
www.karenlevine.com, I have
continued my work as a digital
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

strategy consultant in the media,
entertainment and advertising
space. One of my clients is
an advertising/PR agency
that retained me to help with
new business pitches and the
development of social media
programs. In addition, I have been
working with a new venture called
Better Advertising that provides
self-regulatory programs to major
advertisers and agencies interested
in proactively addressing
consumer and government
concerns about behavioral
advertising and consumer privacy.
I have also had the opportunity to
serve as a digital media expert for
private equity fi rms researching
specifi c sectors and trends.
Sadly, I have not worked with
any Wharton colleagues the past
quarter, so please reach out if
you would like to collaborate
or to retain me for a consulting
engagement or freelance project.
Cohort C rep
Jackie Lutz
Jacqueline.lutz.wg92@wharton.
upenn.edu
Cohort D rep
Steve Moff
smoff @pct.edu
Cohort H rep
Annette (Juhasz) Bergeon
ajbergeon@comcast.net
Cohort J rep
Joe Hage
joe@joehageonline.com
In the pub it was, “Can I get you a
beer?” All grown up, it’s “Can I get
you a house?” Stephen Colanero
just sold his Dallas home to
fellow WG’92 grad Deborah Roy
Crumpler. I wonder if they both
took Negotiations at school.
Facebook reminded me to wish
Omer Malchin a happy birthday.
Omer started Palo Alto-based
creative agency (MoxieMethod.
com) eight years ago. He and Solly
now have four children: One of
them an extraordinary 17-year-old
boy named Nittai whose mission
is to “to educate communities in
Haiti struggling with destructive or
endemic problems.” Proud Omer
just returned from a week with him
in Haiti.
Steve Deitsch started a strategic
marketing/PR consultancy in NYC,
called Reverberate! (re-verberate.
com), focusing on the health care/
pharma and consumer health/
beauty industries. He also helps
companies reach the lucrative gay/
lesbian market. Clients include
Continental Airlines, New York
Life and Novo Nordisk. Reach him
at steve@re-verberate.com.
Our little Facebook experiment
(budurl.com/WG92) is working.
New group members posting on
our “Wall” last quarter include
Abby Bronson, Rich Capen,
Ivy Horowitz Elkins and Akiko
Gordon. Join us to keep in touch,
won’t you?
Cohort K rep
Matt Feely
Matthew.feely.wg92@wharton.
upenn.edu
Cohort L rep
Andrew Moloff
moloff @evercore.com
News from Robert Wieselberg:
“First, we start with breaking
news: Margarita has just got her
Ph.D. in Audiology, after almost
four years of strenuous work. She
is now the fi rst member of the
Wieselberg family with such a
degree. Celebration was hot, with
dinner with our closest friends, lots
of alcohol (champagne, for sure), a
week in San Diego, CA to relax and
loads of kisses from her very proud
family. By the way, the family has
not grown, but continues to give
us “trouble:” Julia, now almost 16,
has just fi nished (yes, yes, yes!!!)
her fi rst “serious” relationship
with a boy, after a very long eight
months of cinemas and holding
hands. Imagine how I am going
to feel when the next one starts…
Sofi a has just completed 12, so we
all are currently involved in the
preparation of her Bat Mitzva. The
party is planned for November
28. In case you will be around,
please let us know—you are invited
to celebrate with us. As for me,
while still spending long hours in
the bank (for the ones who don’t
remember, I head the marketing
strategy group of the USD 4
billion mass affl uent business of
Santander in Brazil), I also started
a parallel entrepreneurial
life. Last October I opened a super
premium 100% natural ice cream
business, which takes orders only
by the Internet and is aimed at
supplying fancy restaurants, cool
catering and luxury hotels. It is
an old passion turning into a new
business. The 12-month business
plan was met after four months—
not bad. For the curious ones, visit
www.bobberg.com.br and send me
your impressions, though we are
not able to send you samples
overseas (yet).”
Cohort M rep
JB Haller
jbhaller@yahoo.com
Class Correspondent WG’93
Christine Jamgochian Koobatian
ckbtn@charter.net
Cohort A rep
Mitch Goldfeld
mitchell.clark-goldfeld@verizon.net
Cohort B rep
Julie Luttinger
drjulie@i-2000.com
Cohort C rep
Karl Sarkans
sarkans@pathcom.com
Cohort D rep
Mark Chuchra
mark.chuchra@wharton.upenn.edu
Cohort E rep
Paul Smith
Smithpa9@hotmail.com
Cohort F rep
Lori (Nishiura) Mackenzie
palymac@gmail.com
Cohort G rep
Lisa Brown Spencer
lisabrownspencer@gmail.com
Cohort H rep
Dana Gross
dagro1@aol.com
Cohort J rep
Barbara Zepp Larson
bzlarson@gmail.com
Cohort K rep
Deborah Bryant Keeley
dbryant123@yahoo.com or
dbkeeley@gmail.com
Cohorts L and M reps
Patrick Parr and Alden Levy
patrick.j.parr@jpmchase.com and
alden@engineno9inc.com
Class Correspondent WG’94
Scott Horn
2205 247th Court NE
Sammamish, WA 98074
Tel: 425-936-1155
scottho@microsoft .com
We have all the Cohorts covered
except for Cohorts F and I. Jamie
Garrett recently retired as the
Cohort F rep after doing it for a
number of years (thanks, Jamie!)
so I’m looking for volunteers
for both Cohorts. If you’d like to
volunteer as the Cohort I Rep or
help another Cohort Rep then
please send me email at scottho@
microsoft.com. It’s easy, fun and
doesn’t take much time.
Cohort A rep
Keith Khorey
khoreyk@wellsfargo.com
Cohort B rep
Leonard Tannenbaum
len@fi ft hstreetcap.com
Cohort C rep
Adam Slohn
adam.slohn@warnerbros.com
Cohort D rep
Leslie Prescott
leslie@prescott.cc
Cohort E rep
N.K. Tong
nk.tong.wg94@wharton.upenn.edu
Dear Fellow Cohort E members,
Thanks again for your updates.
Please keep them coming, and
do let me know updates of your
movements, and both your current
home address and email, too. Send
us some more news soon.
Rich Vanatsky writes that he
and Sandy have moved from
Chicago to Cincinnati in 2001 and
started a family, Katy (9) and Jake
(6). After seven years at Accenture,
he worked at a couple of smaller
consultancies and did a lot of work
in the metals industries. In 2008,
he took a job at O’Neal Steel as
the GM of the Asia region. He
still keeps an offi ce and home
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 57

in Cincinnati, but spends about
a third of his time in Asia, most
frequently in China: Shanghai,
Suzhou, Beijing and Xian. He
would love to catch up with anyone
traveling through Cincinnati or
China.
Ratan Agrawal recently moved
to a new house in Malboro, NJ,
and is still at Cisco looking after
Operations and Strategy for one
of the segments in their Services
business. After nine years in San
Francisco with the Shorenstein
Company, Christine Kwak is
moving on to new opportunities in
2010, to be announced.
Pelayo Primo De Rivera follows
a strong tradition of Cohort E
members, and is co-leading the
organization of the Global Alumni
Forum in Madrid on June 24-25.
He and Ines spent Christmas in
the Dominican Republic, leaving a
few days before the earthquake in
Haiti.
As CEO of Collective Solutions,
Tim Tigner has just launched
eagerintern.com, which brings
Classifi eds
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together people needing experience
with employers needing help,
to complete projects online.
EagerIntern is a crowd-sourcing
application, a new web-based
process on which he has a couple
patents pending and is writing his
doctoral dissertation.
Starting in February, Jenny
Ritchie-Campbell has taken
a year’s sabbatical from the
consulting company where she
worked, and is working for a UK
cancer charity, Macmillan Cancer
Support. She is their joint head
of Intelligence and Research.
“It’s proving good fun and very
diff erent so far, which is great!”
On the home front, she and Casey
bought a lovely old stone house in
Provence, France at the end of last
year. They are now busy deciding
how to tackle the renovations. Part
of it dates from around the 13th
century, so it needs careful thought
on how to update and restore.
James Flintoft has left ANZ after
10 years to move onto the next
stage of his professional career.
He is ‘crossing the divide’ and
moving into the Commonwealth
Public Sector, also undertaking
a small Non-Executive Director
role and continuing his part-time
not-for-profi t involvement with
the Mirabel Foundation, which
provides counseling to children
orphaned or abandoned due to
parental drug abuse.
Michelle Marie Ritchie has
taken a job at Jamba Juice
as Director of Consumer Products
& Licensing.
Jim and Denise Byrd welcomed
their beautiful daughter, Mackenzie
Brooke Gangi, into the world on
December 1, 2009. She has been
quite patient with her novice
parents and is doing great.
It is with much sadness that
we note the passing of Rosa
Hsing on October 21, 2009 from
Creutzfeldt-Jakob Disease. Rosa’s
intelligence, beauty and passion
were inspiration for all who knew
her. Rosa is survived by her
husband, Rick Smith, and their
three children, Nicole (10), Ryan
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streams. All rooms with private bath. See twinmountainsfarmbb.com,
and call Walt (Wharton 61, Law 67) at (802)
235 3700. Walter L. Pepperman ll, P.O. Box 1234, Middletown
Springs, VT 05757
(8) and Chloe (6). They wish to
pass along their most sincere
appreciation for the outpouring
of love and support from our
Wharton friends. John Friedmann
reports that he, Tony Larino, John
Daab and Howard Sudnow were
at her memorial service.
It has been a busy time for
Catherine and me, with some new
adjustments without my mother.
She fi nally departed in March
after a two-year bout of cancer.
She had a great and active life,
even in her fi nal days, and we had
plenty of time to say goodbye as
she stayed with us during that
period. In the meantime, the two
older kids, Elise (12) and Debra
(10) have fi nally proven that they
can out-ski us on the black slopes
in Niseko, Park City and Alta.
I continue to be very involved
in the YPO (Young Presidents’
Organization), as a member of
their International Education
Committee and International
Seminars Committee, and as the
Vice-Chair for S.E. Asia. If anyone
is passing this way, please holler!
As usual, if you are reading this
for the fi rst time in the alumni
magazine, it means that I need
your address and email info. You
can reach me at this permanent
offi ce address: N.K. Tong,
B-13A-P1 Plaza Mont’Kiara, 50480,
Kuala Lumpur, Malaysia. Fax:
+603-6201-3139, Lifelong email:
nk.tong.wg94@wharton.upenn.edu
Take care and write soon.
Best regards,
N.K. Tong
Cohort F rep
Jamie Ginsberg Garrett
jamie.ginsberg.wg94@wharton.
upenn.edu
Cohort G rep
Scott Horn
scottho@microsoft .com
Paul Baldwin sent a great update
on what’s going on with him and
Sarah. As usual you’ll be envious—
in Paul’s own words. He writes,
“As you know I “retired” from
banking and left HSBC in July
last year. I had a couple of quiet
months at home whilst Sarah was
working—became a bit of a house
husband, supervised some minor
refurbishments at home, did the
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Christies’ wine course, read some
books, and took the dog for lots of
walks.
Since the start of December,
however, we have been skiing
pretty much non-stop, and it has
been a fantastic season—82 days
skiing (so far) including two weeks
in Tignes (France) pre-Christmas,
two weeks in Kitzbuhel (Austria)
post-Christmas, two long, fi veday
“boys” weekends in Wengen
(Switzerland) and Chatel (France/
Switzerland), then three weeks in
Jackson Hole (Wyoming), before
coming to Chamonix (France)
about four weeks ago. We are
nearly done now for the season
and will return to London early
next week. I have been tracking
my progress with my GPS—this
season I have covered 3,500 km
(over 2,200 miles) of horizontal
distance and over 450,000 m
(nearly 1.5 million feet) of vertical
descent! That’s equivalent to
skiing from the summit of Everest
to sea level 51 times.
The two weeks in Tignes were
for Sarah and me to qualify as
“reps” (basically ski guides, but
for various reasons we can’t call
ourselves that) for the Ski Club
of Great Britain. It was a very
intensive and gruelling course,
but also a lot of fun. It was the
Ski Club that paid for our trips to
Kitzbuhel and Jackson Hole. Sarah
was working in the former, with
me playing the tail-gunner role,
and I was working in Jackson with
Sarah returning the compliment
by picking up the pieces at the
back. On top of that, Sarah has
also found time to complete and
pass her BASI (British Association
of Snowsports Instructors) Level 2
Instructors course, which she did
in Morzine (France) in March.
The snow conditions here in
Chamonix for the last couple of
weeks have been superb. We had
fi ve consecutive days where we
have found fresh-powder tracks all
day, and one day earlier a week ago
was particularly spectacular as we
got to the very top of the mountain
just as the sun was coming out to
enjoy around 50 cm of fresh snow
(the lift had been closed for the
three previous days, and we got
fi rst go at it!!).
Once we get home, I will enjoy
a few weeks of catching up and
doing little. In June, I am off to
South Africa to watch the (Soccer)
World Cup with a friend who is
also “retired.” July will probably
be back to Chamonix for some
summer alpine walking and
relaxation, then by the middle of
August Sarah’s work is likely to be
busy again so we will be back in
London.
It’s tough, but someone has to
do it!”
I also caught up with Dave
Wittenberg after too long a time.
He’s been teaching at the Business
School at Pacifi c Lutheran
University and loving it. He’s
fi nishing up the school year and
getting a consulting business
going.
Paul Vasilopoulos sent an
update that he’s now with Bank
Street, a tech/telecom boutique
after living through the Wall Street
craziness of the last couple of
years. We’re planning to catch up
via phone soon.
G’s send some news—photos are
great, too.
Cohort H rep
Laura Rogers
laurawrogers@hotmail.com
Cohort K rep
Raymond (“Big”) Tsao
raymond.tsao.wg94@wharton.
upenn.edu
Cohort L rep
Corey Luskin
corey.luskin.wg94@wharton.upenn.
edu
Hi Everyone! I hope you’re all
doing well.
Carrie Winograd writes from
Saratoga, NY: “I’m loving the quiet
existence in this small town. My
boys are awesome. They are 3 1/2
and 8 1/2 and growing so fast and
are so much fun. I’m teaching yoga
in my spare time, which I love, and
still practicing a lot. I have been
at PayPal for eight months and
it’s going well. I serve as “Chief
Of Staff ” for the manager of our
channel group—driving strategy
and developing and executing
operational projects—all from the
comfort of my own home! As we
like to say: ‘Living the dream.’ It’s
75 and sunny up here today and
glorious and no complaints at all!”
Cohort M rep
Debra Sussman Fletcher
debrafl etch@yahoo.com
Steve Fletcher met up with
Dave Paley for dinner while in
San Francisco in April. Back in
March, Dave and Steve as well
as Joe Samluk took a road trip in
Manhattan to Harlem’s famous
Charles’ Country Fried Chicken
for dinner—apparently it is worth
the trip!
Steve and Deb (Sussman) ran
into Min Min Tun and Karim
el Fishawi at Squaw Valley—
they seem to have an unplanned
rendezvous at the bottom of the
gondola with their kids during
February’s ski week each year!
Email Debra with your news:
debrafl etch@yahoo.com.
Class Correspondent WG’95
Jeanne McPhillips
jmcmcp@msn.com
Cohort A rep
Christopher Vollmer
vollmer_christopher@bah.com
Cohort B rep
Jennifer Harker
jenniferharker@hotmail.com
Cohort D rep
Carlos Niezen
Carlos.niezen@bain.com
Cohort E rep
Irina Sasu
rhapsodydobes@earthlink.net
Cohort F reps
Todd Rogers and Vera Wu
todd.rogers.wg95@wharton.upenn.
edu and vera.wu@pfi zer.com
Cohort G rep
Bob Townsend
robert.townsend@bayerhealthcare.
com
Cohort H reps
Brian Owens and Jeanne McPhillips
breezybrian@hotmail.com and
jmcmcp@msn.com
Cohort I rep
Amy (Crandall) Kaser
amy.crandall.wg95@wharton.upenn.
edu
Cohort J reps
Jeff Hagan and Cynthia Grisé
jeff .hagan@earthlink.net and
cgrise@deloitte.ca
Cohort K reps
Dan Davis and Michael Spence
danrdavis@yahoo.com and Michael_
Spence_uk@hotmail.com
Cohort L rep
James Liam Dolan
jldolan@yahoo.com
Class Correspondent WG’96
Kerstin Haefele-Gordon
Kerstin.Haefele.wg96@wharton.
upenn.edu
Cohort A rep
Terri Jackson Wade
kevin.terri@sjpharma.com
Cohort B rep
Mina (Takayanagi) Martinez
Mina_martinez181@yahoo.com
Cohort C rep
Caroline Crothers
caroline.crothers@oracle.com
Cohort D rep
Jeff rey Ealer
jeff ealer@yahoo.com
Cohort E rep
Seth Faler
SFaler@yahoo.com
Cohort F rep
Marc Stockli
marc.stockli.wg96@wharton.upenn.
edu
Michael Bluestein checks in:
“Juliet and I are doing great. We’re
still in Alexandria, VA, where
we’ve lived now for 10 years with
our two sons Harrison and Hollis
(10 and 12). Our excitement for
2009 was the launch of my new
private equity fi rm, Grindstone
Partners, around mid-year. It’s
been a whirlwind but I closed
my fi rst acquisition at year end
and have another one set to
close at the end of February. My
focus is on diversifi ed small cap,
niche service and manufacturing
businesses that are having trouble
accessing capital for expansion
and recapitalizations. It’s a huge,
unmet market right now, given
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 59

the paltry credit environment and
investor skittishness.”
Yoav Amiri and Tamar are
living in Fair Lawn, NJ with
their three children, Noga (12),
Nadav (9) and Naomi (6). Since
graduating from Wharton, the
Amiris have moved around
quite a bit with stops in Texas,
Germany, Italy, France and
Israel before returning to the
U.S. in 2002. Yoav held various
management positions across
several industries before founding
Remington Business Group in
2006. Remington serves as a
unique gateway to and from the
U.S. Its mission is to help smaller
companies—both foreign and U.Sbased—expand
to new markets
and realize their international
ambitions, by off ering business
development and operational/
administrative support.
Frank Rodriguez briefl y let me
know that he and his family are
doing great, with promises of a
more detailed update to come. He
visited Switzerland at the end of
April, but unfortunately we did not
manage to connect.
Cohort G rep
Lisa Sellards Jaouiche
lisa.jaouiche.wg96@wharton.upenn.
edu
Cohort H rep
Tucker Twitmyer
ttwitmyer@enertechcapital.com
Cohort J rep
Robert Coneybeer
rob@coneybeer.com
Cohort K rep
Rebecca Susser (Whellan)
rlwsusser@yahoo.com
Class Correspondent WG’97
Linda Chandler
Linda.chandler.wg97@wharton.
upenn.edu
Cohort A reps
Pamela Friedmann and Sallie
Smalley Beason
pamela.friedmann.wg97@wharton.
upenn.edu and sbeason82@hotmail.
com
Tad Aogai writes from Japan
to say that he has been posted
60 | WHARTON MAGAZINE | SUMMER 2010
STOCKTON
to the New York offi ce of the
Development Bank of Japan. Tad,
his wife and two children will
move to New York this summer.
Welcome back to the United States
to Tad and his family!
Gary Orenstein sends news
from Silicon Valley where he and
his family enjoy walking their
dog Milo and meeting up with
Jonathan Towers and his dog Czar.
Cohort B rep
Tip Kim
t_kim@lek.com
Atlanta-based Purchasing Power
has named Chadwick F. Delp chief
fi nancial offi cer. Delp recently
served as senior vice president in
the consumer group of Purchasing
Power’s investment partner,
Stephens Inc. During his tenure
at Stephens, Delp executed client
transactions including mergers
and acquisitions and capital raises.
Delp currently serves as a director
of Purchasing Power, Morrell Wine
Group, 5 Star Sports Calendar
and ACCESS schools, a nonprofi
t organization that serves the
needs of children with learning
disabilities.
Cohort C reps
Ruth Kirschner and Julie Wingerter
kirschnerruth@yahoo.com and Julie.
wingerer@gmail.com
Howard Crow reports from Seattle
that he is racing motorcycles on
the AMA pro tour and enjoying
skiing with Rylie, his 4-year-old
daughter. Howard is at Microsoft,
13 years now, and enjoying
Seattle’s mellow life.
Meanwhile, Rich Stockton has
also been doing some recreational
driving: he celebrated his 40th in
Leipzig, Germany on the Porsche
911 sport driving course with
fellow classmates Steve Audi,
Sean McDuff y, Julius Sarkozy,
Vince Arena and John Cormier.
And, after 10 years in the UK, the
family (including his wife and
3-, 4-, and 5-year old children) is
moving to Singapore where Rich
will take on his new role as the Co-
Head of Asia Pacifi c Real Estate
Banking at Morgan Stanley, his
employer of the last 13 years).
Rich’s “territory” will include:
India, China, Australia, Singapore
and everything in between!
Rob Rhee was recently awarded
tenure as a Professor of Law at
the University of Maryland School
of Law. However, this summer
he will be teaching at Korea
University College of Law as a
visiting scholar. Rob reports that
son Piers, 5, will be joined by an
adopted sibling sometime soon.
And Yasu Kuroda writes to
announce the birth of his second
son, Nicholas (April 2010) who
joins big brother Alex (3). Yasu’s
business, HR & Organizational
consulting, M&A Advisory and
venture incubation is busy and his
wife has recently joined him as a
consultant.
Julie Wingerter reports a busy
Spring that includes a move to
a nearby Boston town, a big (20
something) birthday, a 5-year
wedding anniversary and the
impending birth of a baby boy in
June, which will mean 3 under 3 for
her clan. She is still working parttime
at Pangea Media where she
heads up corporate marketing.
Cohort D rep
Kent Laber
klaber@barrieradvisors.com
Kevin Chinoy has been living in
Los Angeles since 2007 producing
fi lm and TV through a company he
owns with his long-time girlfriend,
Francesca Silvestri. Their latest
production is a new comedy for
MTV called “Warren The Ape”
coming out this summer, but their
most important production to
date has been their son Giacomo,
who turned 1 in May. Kevin urges
anyone that comes out to LA to
give him a shout, and let’s see
some updates from the rest of
Cohort D!
Cohort E rep
Cathy Niemoller Brown
cathynbrown@hotmail.com
Ricki Rabin reports in that she and
Scott Rosenberg caught up and
got their families together during
one of Ricki’s visits to NYC. The
Rosenbergs live outside the city
but Ricki and family are still living
in Dallas.
Cohort F rep
Kevin Kemmerer
kevin.kemmerer.wg97@wharton.
upenn.edu
Cohort G rep
Surindha Talwatte
surindha@sbcglobal.net
Cohort H rep
Linda Chandler
linda.chandler.wg97@wharton.
upenn.edu
Cohort I rep
Paul Jackson
pjackson@cedrusinvestments.com
After many years of silence from
Cohort I (which is hard to believe
knowing Whartonites are hardly
a reserved bunch!), Paul Jackson
emerged and is taking on the role
of agent for the underrepresented
I’s. Welcome Paul!
For quite a while we have been
in Cohort I Rep wilderness, so,
I have decided to pick up the
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

mantle, shake the trees and see
what we have to say. To get the
ball rolling I reached out to my
old learning teammates, “The
Outliers,” to see what they’ve
been up to. First from my friend,
Jay Levyne, “I have just climbed
Mt. Everest without taking even
one breath, became Blankfein’s
personal hairstylist, and solved the
Rubik’s cube while blindfolded.”
Glad to see the hallucinogens
continue to do a sterling job
for Jay. In between doses, he
continued...
“Let’s see, I’ve been at Modern
Management, Inc., a boutique
labor relations consulting
company, since 1998, reside in
Chicagoland with wife Linda,
son Aidan (10) and Jenna Cate
(8). Had the opportunity to run
into Paul “I have a HOT fi ancée”
Jackson, Mike Carrel (CEO of
Vital Images), Olga Spaic, Diane
Rich and Eric Scharpf.”
From Olga Spaic: “My big
update is that I’m engaged and
getting married this summer
in Seattle. My fi ancé’s name is
Perry Lutz, and he is a Boeing
engineer. I’m still at Microsoft
(5 1/2 years) and am currently
working in our Global Marketing
Operations group.”
And from Ramon Gomez
de Olea: “I am now part of the
furniture at Russell Reynolds,
Madrid, after 10 and a half years.
My daughter Paloma is almost 14,
Patricia, 13, and Carlos, 9 years
old.”
Chris Crawford and his wife
Lindy and two boys are living
the Boston area. After 15 years
in large mutual fund and hedge
fund companies, Chris and two
partners formed Crawford Capital
Partners, LP last year to invest in
out-of-favor and underfollowed
public securities.
Bill Esler writes: “Hello
everyone. Congratulations to
Olga on her engagement. As with
Ramon and Paul, our kids are
growing up too quickly—Nathalie
(11), Christopher (10) and Viviane
(8). Gesine and I have been
back in Germany since 2000.
The last fi ve years I’ve headed a
software startup/scale-up, which
was acquired in October. I’m
staying on as MD of the German
operations, but see us back in the
States sometime in the coming
years.”
And from Mike Carrel: “On
this end things are great. Renee
and I live in Minneapolis (have
been here since graduation). We
have two daughters Lily (9) and
Charlotte (7) and three dogs!
Simply put, we are just enjoying
life. As for work, Renee is still
at Johnson & Johnson. Same
company since business school.
I am president and CEO of Vital
Images, a publically traded (VTAL)
medical imaging company. Have
been here since 2005. Sans
the economic downturn and
uncertainty in health care, we are
doing well and improving patient
lives! Fun work for sure.”
As for me, Jay is right, I do have
a hot fi ancée, offi cially as of April
21, 2010, when I got engaged
in Little Cayman to Anna, who
works as a kindergarten teacher in
Zurich. I am still in the fi nancial
services sector picking over stocks
and asset classes around the
world, while in my limited spare
time I am writing a book entitled
The Recycling of Wealth. My two
children, Camilla and Oliver,
have sprouted up before my eyes.
Camilla, 17, is off to university
in August where she’ll continue
competing in track and showing
her prowess on the soccer fi eld.
My son, Oliver, 15, a freshman at
Newton North, is pursuing his
passion for hockey, playing on the
varsity team this year. Hopefully,
he’ll learn a thing or two about the
arts and sciences along the way.
So, Cohort I of 1997, send me
your updates, anecdotes, and
anything else you’d like to share
with the Wharton community.
Until next time, my best wishes
to you all.
—Paul Jackson
Cohort J rep
Troy Stevenson
troy.stevenson@schwab.com
Not too much new to report this
time around:
But Mary Pat Knauss writes
that she “continues to enjoy life
in the nonprofi t sector and am
now President of the Board for
Wings For Success. I fi nd that
I’m leveraging many of the skills I
developed in the corporate world
to benefi t those in need in my
community. It’s very rewarding on
many levels. I also have enjoyed
catching up with fellow Wharton
grads on Facebook. Keep those
postings coming!”
Always reliable J-update
contributor Ivy Brown reports:
“I have moved to a new role still
within J&J—Marketing Director
for Johnson’s Baby Brand and
Desitin—this includes Johnson’s
Baby Lotion, Powder, Oil, Head-to-
Toe Wash, Bubble Bath, Shampoo
and Diaper Rash off erings. Been
at it since February 2010 and it’s
going very well!”
And fi nally: Jeff Napoliello
writes, “I recently moved back
to the Philly burbs from upstate
New York after a year of running
strategy and business development
for a Lockheed Martin business
up there. Now running LM’s
New Ventures Line of Business
addressing Renewable Energy,
Nanotechnology, Supply Chain,
and other commercial businesses.
Having a good time. Family
(Barbara, Rachel and Renee) are
all doing great.”
Please keep the updates coming
to troy.stevenson@schwab.com.
Cohort K
Linda Chandler
linda.chandler.wg97@wharton.
upenn.edu
Cohort L rep
Jeff Donosky
jeff _donosky@hotmail.com
Laurel (Beltrone) Cavalluzzo
writes: “I can report that I have
been fi ve years in the Midwest
now—Madison, WI to be exact—
with my three wonderful kids
(ages 8, 6 and 3). After I spent the
fi rst part of my career post-
Wharton getting good corporate
experience (XOM), I now have a
marketing consulting practice that
will be fi ve years old this fall. It
has been very rewarding working
with small businesses and nonprofi
ts—basically organizations
that need marketing plans
pulled together for them and
their staff trained on how
to strategically think and execute
communications. And with
social media having such an
enormous impact on all business
communication, it keeps the world
of marketing very exciting, as
every day the fi eld continues
to evolve. (I wish I could hear
how social media is being
discussed back in the Wharton
classroom!!) So that is about it for
me—I am sad to say that there is
a dearth of Wharton MBA grads
here in Madison. That’s one thing
I miss out on by living in a smaller
Midwest town—not having the
same social network of alums as
found when living in a larger city!!”
Julie Lin writes: “Not much has
changed for me and my husband,
other than our companies were
both acquired last year (Barclays
Global Investors is now part of
BlackRock, Genentech is now part
of Roche). Our daughter Olivia
is now a bit over 2 years old. She
defi nitely keeps us busy. Now
that she is a bit older, I’d love to
reconnect with the Wharton cohort
who lives in the SF Bay Area.”
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 61
LIN
Glenn Leibowitz reports: “I’m
in my 13th year with McKinsey,
living in Shanghai now with my
wife Pei-Wen and son Keanu (10)
and daughter Pasha (4). I manage
McKinsey’s external relations
and communications in Greater
China. I just met up recently with
Wharton’s Director of Admissions,
J.J. Cutler, C’93, WG’97, when
he was visiting Shanghai for
interviews. It would be great
to keep in touch with more
Whartonites living in or passing
through China. Contact me at
gpkl@hotmail.com.”
Class Correspondent WG’98
Cornelia Cheng
wg98magazine@yahoo.com
Cohort A rep
Mark Wenger
mark.wenger.wg98@wharton.upenn.
edu

Cohort B rep
Mark Mannino
mark.mannino.wg98@wharton.
upenn.edu
Cohort C rep
Elisabeth Socolow
elisabeth.socolow.wg98@wharton.
upenn.edu
Cohort D rep
Stephanie Wong
stephanie.wong.wg98@wharton.
upenn.edu
Baby William Patrick was the most
recent addition to the Rene Lajous
clan. He was born on December
16, 2009. Not to be outdone, Rene
says he has fi nally caught up to the
family size of fellow Cohort D’er
Hugh Macdonnell.
Duncan Alvarez writes: “Last
August and after eight years in
Houston, all our family, including
our dog Charlie, moved to Doha,
Qatar. I am working on an
assignment for Qatar Petroleum,
which is the National Oil
Company, in the Project Finance
Department. The kids (Isabel
12, Sebastian 9 and Nicolas 7)
are almost fi nishing the school
year in the American School
of Doha and everybody is very
happy and getting adapted to
such an interesting and diff erent
culture. Qatar is the country with
the fastest-growing economy
in the Middle East and they are
investing heavily in infrastructure,
education and in developing their
hydrocarbons resources. During
the summer it gets very hot,
reaching temperatures of 50°C
(122°F).”
Laszlo Sabjanyi and family
spent a sunny summer back in
Hungary, and he is now back in
London building his strategy
consulting business.
Kent Madsen writes: “So it
only took me 43 years ... but on
November 28, Elizabeth and I
had our fi rst child. Caroline Sarah
Madsen was born at 1.45 p.m.
weighing 6 lbs., 10 oz., and was
20.5 inches long. We are all doing
well and excited.”
Cohort E rep
Birken Olson
birken.olson.wg98@wharton.upenn.
edu
62 | WHARTON MAGAZINE | SUMMER 2010
Cohort F rep
Kelly Wright
kelly.wright.wg98@wharton.upenn.
edu
Cohort H reps
Robin (Pulis) Carney and Scott Nass
Cohorth98@yahoo.com
Brendan Carney recently
accepted a new position as CEO
of Citibank Belgium. He began
working in Brussels in March of
this year and is still commuting
home to Lisbon on the weekends
to spend time with Amalia (6) and
Leonor (4).
Robin (Pulis) Carney is
continuing her work as Vice-
President of Laço, a breast cancer
charity, and will join Brendan in
Brussels when the girls fi nish
school in July. They would love to
see any Whartonites living in or
visiting Europe!
Cathy DuRei reports: “After
a brief six-month hiatus from
the working mommy thing
during spring/summer of 2009
(inadvertent leave—survived my
fi rst layoff ever), I’m back at Pfi zer
Pharmaceuticals in NYC. I now
work four days a week, which
allows me to spend more time with
my family and even sneak in some
exercise once a week! My husband,
Brian, who went to Kellogg when
we were at Wharton, also works
there. We live in Rye, NY in a busy
household with 8-year-old Amy,
and 3-year-old twins, Jack and
Ciara. All three are in school now,
with the twins doing three days
of nursery school and Amy as a
DUREI
second grader. They are all very
busy and growing like weeds. Life
is always full of surprises, and
while it keeps us very busy, I make
a point of slowing down here and
there to enjoy these special times
with our young ones. Plus I love
experiencing the world through
their eyes.”
Cohort I rep
Aimee Vincent Jamison
aimeeajamison@yahoo.com
Cohort J reps
Suezann Holmes and Banu Tansever
suezann.holmes.wg98@wharton.
upenn.edu and gtansever@hotmail.
com
Cohort K rep
Debbie Berland
deborah.berland.wg98@wharton.
upenn.edu
Cohort L rep
Colette Levy
colette.levy.wg98@wharton.upenn.edu
Class Correspondent WG’99
Lucy Carone Elliott
9432 Rosehill Drive
Bethesda, MD 20817
Tel: 301-365-7446
Lucy.carone.wg99@wharton.
upenn.edu
Cohort A reps
James Fong and Elizabeth Kopple
mbavet@gmail.com and eko pple@
msn.com
Dan Weiner and family made a
huge move in 2009 from Brooklyn
to Denver in search of extra space
and “lifestyle” after the birth
of Dan’s third kid. Dan joined a
company called Thought Equity
Motion that does rights and
technology for digital video. His
wife, Liz Weiner, WG’00, recently
left Credit Suisse and launched
a strategic advisory fi rm for real
estate fund-raising called The Kap
Group. Dan hosted fellow Wharton
classmates Larry Tanz, Brian
Ring, Ethan Klemperer, Dan
Feldman and Ken Zeff for some
very exciting skiing in March and
hooked up with Ryan Harrington
and his family who have been in
Denver for a few years now. As a
side note, Cohort A is planning
a ski trip to Denver this coming
winter and plans to crash the
entire cohort at Dan’s house for
two weeks.
It seems that a Wharton MBA in
Finance is still not good enough.
Ten years after receiving his
MBA, Winston Wang took the
challenge and passed the Certifi ed
Financial Planner Board Exam.
Congratulations, Winston! By the
way Winston, should we go long or
short on Goldman?
Cohort B reps
Blair Carnahan and Anna
Buckingham Gsanger
blair_wg99@yahoo.com and anna.
gsanger.wg99@wharton.upenn.edu
Cohort C reps
Lucy Carone Elliott and Kate
Holdsworth Hammond
lucy.carone.wg99@wharton.upenn.
edu and hammond_kate@hotmail.com
Lucy Carone Elliott, Bob Elliott
and Trey (3) recently caught up
with classmate Kazumi Naito
while on “Babymoon 2” in Tokyo
and Seoul this past April. Kazumi
is still working with Citibank
in Tokyo. Lucy and Bob are
expecting Baby #2 this June and
still have a lot to do to get ready!
Tom Treanor and his family are
doing well, including Sophie (8)
and Chloe (6), who have turned
out to be pretty good skiers. His
wife Audrey’s architecture and
design business has been strong
and Tom (after 7+ years) decided
to leave HP and start his own
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

consulting fi rm. Learn more at
www.RightMixMarketing.com.
Tom reports that San Francisco is
losing several Whartonites back to
the East Coast including Jeff and
Sandra Smith as well as Marc and
Sandra Micek.
Sydel Howell has co-founded
The Caregiver Relief Fund,
a nonprofi t social venture
committed to caring for caregivers.
They provide resources, assistance
and a voice to over 50 million
Americans who are currently
caregivers to the chronically ill,
aged or disabled. Check out www.
caregiverrelieff und.org. Donations
and assistance welcomed!
Cohort D reps
Elisabeth Burghardt Bartel and
Natalie Ellis
elisabethbartel@mnet-mail.de and
natalie_ellis@yahoo.com
Derrick Irwin writes that he and
Marcia (Cillan) Irwin had their
second baby last week: Isabel
McLean Irwin, 8 lbs., 12 oz. and
19 inches long on March 29, 2010.
Congratulations from all of us!
Mom and baby are doing great. In
other news Derrick continues
to work on the Evergreen
Investments Emerging Markets
Growth Fund, which he says is
great fun.
Cohort E rep
Marissa Peters Cherian
marissa.cherian@accenture.com
Cohort F reps
Sandra Juhn Schubert and Jen Cahill
sandraschubert@gmail.com and
jencahill7@aol.com
Sandro Trosso writes: “I have
returned to Peru and have started
working with one of the candidates
for the presidential campaign due
April 2011.”
Karen Ward writes: “I left Bank
of America Merrill Lynch last
summer and joined up with two
previous partners to form The
CenterCap Group, a real estate
investment banking fi rm. We focus
on providing M&A advisory and
raising strategic growth capital
for mid-sized public and private
real estate operating companies
and investment managers. In
everything we do, we try to bring
a principal mentality to the table
as our entire team (there are seven
now) has all been on the principal
side before. Here is the website:
www.centercapgroup.com. So, it’s
been very exciting! My partners
and I are building a new business
and we have found that everyone
has been very supportive. We have
really started to hit our stride since
we started out in the fall of 2009
and have been active on many
fronts, including pre-IPO advisory,
entity- and asset-level capital
raising and start-up advisory for
our clients.”
Cohort G reps
Dan McKone and Fawad Zakariya
djmckone@yahoo.com and
fzakariya@hotmail.com
Caskie Collet writes in with an
update: “Our third child, Peter,
was born August 11, 2009 and
everyone is doing well. Big brother
Jack, 5, and sister Whitney, 3, love
the addition and are very excited
to teach him the ways of the
world. We are living outside of San
Francisco in Marin County where
we’ve been for the last two years.”
Darren Bramen has an update
from the Philadelphia Main Line:
“My wife Becky, NU’96, GNU’98,
and I are well settled in Bryn
Mawr after surviving a 5-year
home renovation that began in
2003. We have two little girls
running around that home, Sydney
(6) and Samantha (4). I remain a
partner with Veritable, LP, located
in Chester County’s beautiful
horse country, 15 miles west (as
the crow fl ies) of Penn’s campus.
I’ve been with Veritable almost 11
years now, coming here straight
from Wharton. We took the
company private in 2004 and it
has grown to be one of the largest
fee-only, objective investment
advisors to the ultra-affl uent.
Despite appreciating our lives
in the East, Becky and I are still
drawn to the West and often make
the pilgrimage to California. The
entire Bramen clan was hosted by
Doug Tomlinson during a visit to
San Francisco last August.”
Marc Lehmann informs us from
New York: “The Lehmanns are
moving to Miami this summer. I will
be taking some time off and then
more than likely starting my own
Derrick Irwin WG’99
Derrick Irwin writes that he and Marcia (Cillan) Irwin had their
second baby last week: Isabel McLean Irwin, 8 lbs., 12 oz. and
19 inches long on March 29, 2010. Congratulations from all
of us! Mom and baby are doing great. In other news Derrick
continues to work on the Evergreen Investments Emerging
Markets Growth Fund, which he says is great fun.
fund late this year or early in 2011.”
Cohort H rep
Allison Stark
stark_allison@yahoo.com
Cohort I rep
Geoff rey Williams
geoff reyfw@yahoo.com
Cohort J rep
Chip Baird
wbaird@ptcbio.com
Cohort K rep
Jay Remington
james_fremington@hotmail.com
Mark Somol has joined Mzinga,
a the leader in social software,
services, and analytics for
business, as the company as Chief
Financial Offi cer. As Mzinga’s
CFO, Somol will oversee all
aspects of the company’s fi nance,
corporate development and
strategic initiatives. He has spent
the last two decades in senior
management and fi nance roles in
high-growth technology ventures,
where he directed growth
strategies, business planning and
corporate development. Somol
most recently served as Principal
at NeoCarta Ventures, a $300
million venture fund that invests in
technology and media companies.
Somol also served as a board
member, observer or advisor
to multiple NeoCarta portfolio
companies and worked closely
with the companies’ CEOs on
business strategy, raising capital,
M&A transactions and operations.
Before that, Somol was cofounder
and principal of Highgate
Ventures, a $75 million venture
fund that invests in information
technology companies, and held
investing and operating roles at
GE Capital and Oracle.
Paul Bamundo writes: “Claire
and I bought our fi rst house in
Darien, CT, so that I can be closer
to work and not have to do the
hellish commute from Brooklyn
to Subway’s offi ces in Milford
anymore (75 miles each way). Still
having fun doing sports and
entertainment marketing for the
brand. Hopefully you all have seen
our latest Subway commercials
featuring Michael Phelps, Ryan
Howard, CC Sabathia, Michael
Strahan, Laila Ali, Blake Griffi n,
Nastia Liukin, Carl Edwards and
others. And now that we have a
house, we fi gured no time like the
present to start a family. So yes,
we will soon be joining many of
you proud dads and moms sharing
baby pictures in future updates
because Claire is due with our fi rst
child in September. We are going
old school and not fi nding out if
it is a boy or a girl. We’ll hopefully
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 63

share the news in the Winter
edition!”
Cohort L reps
Andrew Yoon and Lisa Brichta
Tretler
andrew.yoon.wg99@wharton.upenn.
edu and ljtretler@optonline.net
Andrew Yoon writes: “After eight
years living abroad in Tokyo and
Hong Kong, my family and I will
be moving back to Los Angeles
in June. We’ll be living in Pacifi c
Palisades and look forward to
spending more time with our
family and friends.”
Sherine (Nabih) Freeth moved
from London to Bahrain this past
January, “so if anyone is passing
through the Gulf region, please
do look us up! I stopped working
in banking (high yield/credit sales
at Citi in NYC and then Barcap
in London) almost two years
ago (before our son Zaki was
born) and it still feels weird so I
think I’ll eventually get back to
something but just a question of
what. Great to spend time with
the little guy though! So, for the
moment, enjoying life on a desert
island and getting a bit nervous
for how hot that desert island will
be in another month’s time as it’s
already 90 degrees and it’s only
April!”
Gregg Spiridellis is plowing
away at JibJab. In May the
company announced a partnership
with LucasFilm and released a
Star Wars Starring You series. Like
JibJab’s ElfYourself campaign,
users can upload their photos and
put themselves, family and friends
into the original Star Wars movie,
Empire Strikes Back and Return of
the Jedi.
Sandra Cordova Micek writes:
“My family and I have moved
back to New York after having
lived and worked in London and
San Francisco since graduating
from Wharton nearly 11 years ago.
I recently joined NBC Universal
in New York as vice president
of integrated marketing. Marc,
Max, 3, and Eliana, 1.5, and I
live in Manhattan and are really
enjoying being back on the East
Coast. It’s been great catching
up with our New York Wharton
friends again.”
64 | WHARTON MAGAZINE | SUMMER 2010
00 s
Class Correspondent WG’00
Wendy Bagdi
229 East 28th Street, 1D
New York, NY 10016
wendy.bagdi.wg00@wharton.
upenn.edu
Cohort A rep
Skip Pasternak
skipper192@yahoo.com
Cohort B reps
Denise Hsu and Steve Stagg
denise.hsu.wg00@wharton.upenn.
edu and sstagg@harrodproperties.
com
Cohort C reps
Mandy (Scheps) Pekin and Idris
Mohammed
mandy.pekin@gmail.com and idris.
mohammed@comcast.net
Cohort D rep
Wendy Bagdi
wendy.bagdi.wg00@wharton.upenn.
edu
Cohort E reps
John Pietrzak and Laurent Gadea
pietrzaj@hotmail.com and laurent.
gadea.wg00@wharton.upenn.edu
Cohort F rep
Patti Miller
patti_a_miller@yahoo.com
Cohort G reps
Joe Benavides and Amanda Nelson
jbenavides@nyc.rr.com and nels73@
yahoo.com
Cohort H rep
Art Buckler
art@buckler.net
Cohort I rep
Andrea Nickel
andrea.nickel.wg00@wharton.
upenn.edu
Cohort J rep
Jamie Parks Moyer
jamie.moyer@comcast.net
Cohort K rep
Liz Kotlyarevsky
elkotlya@yahoo.com
Cohort L rep
Christian Tate
ctate@doubletake.com
Radhika Shroff writes:
“Unfortunately, I didn’t make
it to this year’s reunion as I’m
expecting my second baby around
the same time, and don’t want him
to be born at Pub (which might
not be inappropriate given my
stellar attendance record there
from 1998-2000). My husband,
Seth Bair, WG’03, and I are still
happily ensconced in Manhattan,
living in a city with the best
restaurants and nightlife in the
world and not taking advantage
of any of it! Hoping that’ll change
in a couple of years. I am still
working on making microfi nance
investments in Peru with Rosanna
Ramos-Velita, G’92, WG’92, as
well as with Maya Kaimal Fine
Indian Foods (www.mayakaimal.
com). Both projects plus the
imminent second baby are keeping
me very busy and I hope to see
everyone at our 15-year reunion, if
not before.”
Assaf and Natalie Tarnopolsky
write: “The Tarnopolsky family
is still living the dream in LA and
our three boys are growing up fast
under the sunshine. We recently
saw Lara Koslow and Joanna
Popper at Audrey Greenberg’s
beautiful wedding in Big Sur. Hope
all are well and looking forward
to the reunion. Wow, 10 years. We
keep telling ourselves that 40 is
the new 30 ...”
Tom Lee writes: “Still working
at GIC Real Estate and recently
began looking at real estate
investments in Brazil. On a recent
trip to Rio I was able to meet
up with Sidnei Shibata over
dinner at a nice churrascaria. Sidnei
is keeping busy with his twins and
new job at a major telecom company
called Oi.”
Qayyum Hafeez writes: “Our
fi rst baby is due on or around June
1. It’s a girl! I have been working
at a private equity fund in Dubai
since 2008.”
Bill Baker writes: “I’m in my
10th year of investment banking,
and now in my fi fth year with my
current fi rm, GCA Savvian, based in
San Francisco. I have transitioned
to a coverage role and now run the
Cleantech group, which is focused
on the intersection of technology
and natural resource management:
fuels, electricity and water. Since
our fi rm is headquartered in Tokyo
and San Francisco, I am beginning
to spend more time in Tokyo, and
spend many Lost in Translation
nights looking out of my hotel room
window at three in the morning. We
are doing primarily M&A advisory
and increasingly focused on US-
Japan cross-border work. In
spite of the revelry in Brazil, I
defi nitely chose the wrong Lauder
language. The family is great
and kids are getting older: Emily
(6), Charlotte (4.5) and Harry
(2.5). Everyone has taken to skiing,
which is a huge victory. We voted on
getting a dog last year and my vote
didn’t count, so we got a crappy
little dog. His name is Fergus.”
Erica Judge writes: “My husband
Simon Bendle and I welcomed Luke
Cameron Bendle to their family
on April 23. Brother Matthew (2
in May) is very excited at the new
addition and so are we!”
Anurag Kapur: “On April 6,
Shivani and I welcomed Anish
Kapur, 7 pounds 12 oz., born in
Santa Monica, CA. Aditya, 4 1/2
years old, likes to sing to, play
with and occasionally paw at his
baby brother. Professionally, I
joined Wells Fargo’s Securities &
Investment Group in September
2009 and focus on investing in
stressed, distressed and leveraged
loans. If anyone passes through Los
Angeles, defi nitely look me up.”
Class Correspondent WG’01
John Doherty
One Crestwood Lane
Summit, NJ 07901
john.doherty@gs.com
Class of 2001,
Hope 2010 started off well for
everyone … with the limited number
of items submitted, it appears
everyone is very busy!
Best regards, John
Cohort A rep
Robert Lee
robert.lee.wg01@wharton.upenn.edu
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Cohort B rep
James Fields
jameswfi elds@yahoo.com
Cohort D reps
Sampriti Ganguli, Peter Fair and
Jason Stack
sampritig@hotmail.com, peterfair@
hotmail.com and wjstackman@
hotmail.com
Cohort E rep
Ruth Golan
ruth.golan.wg01@wharton.upenn.edu
Reuben Advani was recently
featured in Investor’s Business
Daily in an article entitled “Track
Costs And Benefi ts To Make Smart
Business Decisions”
Cohort F rep
Vishal Sharma
vishal.sharma.wg01@wharton.upenn.
edu
Chelsea Vaughn writes: “I got
married to Anthony Showalter
on September 12 in New York,
and some WG’01 friends helped
us celebrate. In the picture below,
from left: Udayan Chattopadhyay,
Rachel Wasserstrom, Arnab
Ghatak, me, my new husband,
Sujata Wasudev Deshmukh, Tal
Lev, Theresa Wong pregnant with
her second child (who turned out to
be Evan), and Asha Gohil.
Sujata and Asha were
bridesmaids. I have been at
Random House since graduation
and am currently a director in
the corporate online and digital
marketing group, working on online
marketing and digital strategy.
Anthony is from Indiana, received
his MBA at Indiana University, and
is a director at Echoing Green, an
organization that funds emerging
social entrepreneurs. We live in Fort
Greene, Brooklyn.”
Cohort G rep
Alec Campbell
alec.campbell.wg01@wharton.upenn.
edu
Cohort H rep
Alison R. Stroh
alison.stroh@ucsfmedctr.org
Balazs Felcsuti writes: “All updates
are work related from the Felcsuti
family. I recently started a new job
in Business Development with
Ironwood Pharmaceuticals. Noemi
is working as a psychotherapist
at Westwood Lodge Hospital and
thus, the kids, Dani and Lili, have
to pull their weight as well by going
to daycare full-time. And as the
Boston winter is fi nally winding
down we are looking forward to
enjoying some sunny days.”
Beny Rubinstein also
provided this update: “I am still
living in the Seattle area. More
precisely, Newcastle, but the one
in Washington, although I’ve
been spending most of my time
in the UK lately where I had
the opportunity to reconnect
with Oren Beeri and other
classmates. Recently visited New
York on my way back from London
and had a chance to see Shimon
Shkury, Tal Lev, Theresa Wong
and their kids, as well as many
others. It was wonderful to see
that everyone is doing well. I am
looking forward to the summer.
Planning a trip to Alaska and who
knows where else?”
Cohort I rep
Dave Stromfeld
stromfeld@yahoo.com
Divesh Makan writes: “Diksha and
I had our third daughter, Treesha,
on April 1, 2010. Life-wise, Kreeya
(eldest) is starting Kindergarden
at Hamlin, whilst Mira (middle)
is at Pre-k. I am still at Morgan
Stanley, and Diksha is occupied
running our life. Still happily in
San Francisco and staying in the
city (avoiding the suburbs!).”
Cohort J rep
Paul Sternlieb
Paul.Sternlieb.wg01@wharton.
upenn.edu
John Long has landed a new role
with Willis Group (NYSE: WSH)
as its China CFO. He is based in
Shanghai and invites classmates
to contact him if they are in China
or passing through. John’s email is
jiang.long.wg01@wharton.upenn.
edu.
Cohort K reps
Amy Peterson and Jenny Cobleigh
mapetey2000@yahoo.com and
jacobleigh@yahoo.com
Cohort L rep
Liz Everett
everett_liz@yahoo.com
Class Correspondent WG’02
Annie C. Lee
Tel: +886-9-3218-1839
annie.lee@tw.vuitton.com
Cohort A rep
Annie C. Lee
annie.lee@tw.vuitton.com
Cohort B rep
Chris Simpkins
Christopher.Simpkins.wg02@
wharton.upenn.edu
Cohort C rep
Sandra Shpilberg
sanshpil@comcast.net
Cohort D reps
Kim Schuy and Rob Carson
kimberly.schuy.wg02@wharton.
upenn.edu and rob_carson@
earthlink.net
Cohort E rep
Barat Dickman
barat_dickman@yahoo.com
Abhey Lamba writes: “We had
our second kid in December, a
son, Yuvraj. Life has been crazy
since his arrival but all for good.
Professionally, I am still working
in equity research at ISI group
covering technology stocks.”
Daniel Daniel writes: “After
working at UBS since graduation, I
left the fi rm in April. I am building
a special situations group at Wall
Street Access to complement
the existing merger arb research
product. My focus is on identifying
and evaluating non-arbitrage
corporate change situations that
VAUGHN
will unlock value in a company’s
security structure.”
Cohort F rep
Tony Estrella
tony.estrella@gmail.com
Shannon Foy got married in April
2008 “to someone I met online—
yes, online! Believe that?! I did
it for fun and ended up meeting
my future husband.” Shannon’s
husband left Manhattan and
she left DC and they moved to
Philadelphia in 2006. Shannon
now works for a small sports and
entertainment advertising agency.
Her transition from working for
multi-billion dollar companies to
a small 15-person organization has
been “very refreshing.” They just
had their fi rst baby in October
2009. Her name is Dyllan Kelly
Leaf and “she’s happy and has a
ton of personality already.”
Melissa Chan (Cohort B)
and Tony Estrella recently got
engaged in Geneva, Switzerland
and spent a celebratory weekend
in Barcelona enjoying the start
of their life together. No date yet,
but plans will be forthcoming.
Meanwhile, they continue their
lives in New York where Melissa is
singing Opera (www.melissachan.
net) and fi nishing her second Grad
degree in Arts Management, and
Tony is celebrating the fi fth year
anniversary of HealthiNation (the
health care media startup that he
co-founded) this coming April.
Cohort G rep
Francesca Migliori
francesca.migliori.wg02@wharton.
upenn.edu
David Hopkins and his wife
DeVona welcomed a new baby
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 65

girl, Drew Elise, on February 21,
2009. The Hopkins still live in
Pittsburgh, PA, along with their
three other children, Darrien
Renee, Dailyn Iman, and Donovan
Noah, where David is Market
Manager for PNC’s Western PA
and Eastern OH Community
Development Bank.
Cohort H rep
Rick Modi
Rick.Modi.wg02@wharton.upenn.
edu
Cohort I rep
Sundar Pichai
sundararajan.pichai.wg02@wharton.
upenn.edu
Cohort J rep
AnnMarie Peterman
annmarie.peterman.wg02@wharton.
upenn.edu
Cohort K reps
Elisa Graceff o and Vanessa
Karubian
elisa.graceff o.wg02@wharton.
upenn.edu and vanessa.karubian.
wg02@wharton.upenn.edu
66 | WHARTON MAGAZINE | SUMMER 2010
Jennifer Lee is an Executive for
Chef Bobby Flay, and “we opened
Bobby’s Burger Palace yesterday
(April 6, 2010). It is a fast, casual
restaurant which off ers burgers,
fries, and milkshakes inspired
by Bobby Flay’s culinary travels.
The food is really aff ordable
and the restaurant is located
very close to Huntsman Hall at
39th and Walnut. Come have a
burger and don’t forget to get it
CRUNCHIFIED!”
Marc Shedroff and his wife
Tracy had a baby boy, Benjamin
Jacob, born on Oct 15, 2009. He
was 7 lbs., 11 oz.
Elisa and Greg Graceff o are
thrilled to announce the birth of
their third child, Charlie Graceff o,
on March 12, 2010. Elisa and Greg
are still in Seattle and working at
Microsoft, on the Offi ce and Bing
businesses, respectively.
Cohort L rep
ESTRELLA-CHAN
GRACEFFO
Jenise Little
jenise.little.wg02@wharton.upenn.edu
Class Correspondent WG’03
Carter Mayfi eld
Carter.Mayfi eld.wg03@wharton.
upenn.edu
Cohort A rep
Brian D. Smith
brian.d.smith.wg03@wharton.upenn.
edu
Cohort B rep
Viru Raparthi
raparthi@gmail.com
Christian Hernandez writes:
“Michelle and I have now been in
London for four years. Life has
been great, Sebastian is almost
2 and European long weekends
continue to make it a great place
to be. Things were getting a bit
settled, so we decided to shake
things up a bit: We are expecting
the birth of our daughter this
summer; we therefore had to
move houses to the third since we
arrived in London, and I decided
to switch jobs. As of October,
I have joined Facebook to lead
our international expansion as
Head of International Business
Development. I am loving working
for a 25-year-old CEO and being
10 years older than the median
age at Facebook and at the same
time knowing that we have
400 million passionate users to
support. On the personal side, the
Wharton posse continues to evolve
with Kim Henderson and Katie
Peterson (Mensch) having left,
but Jen Bernstein arriving soon. I
continue to be close to the school
and still serve on the Alumni
Association Board of Directors and
am excited to welcome my fellow
DGSAC Co-Chair Brian Wong to
the Board along with Fadi who
joined last year! Look us up when
you come to London.”
Cohort C rep
Raza Hasnani
Raza.Hasnani.wg03@wharton.upenn.
edu
Mark Mechem and Molly (Maoli
Huang, Cohort A) celebrated the
birth of their second daughter,
Samantha, on February 3 in
Shanghai.
Pamela Brown reports that
“The BIG news in my life is that
I am getting married this May 15
to a wonderful guy. His name is
Nicholas Kournetas, he is Greek-
Canadian and does investment
banking (at Moelis) for a living.
We are looking forward to having
Sarah Searson from Cohort C
there as well as other Wharton
friends Amelia Weir and Andrea
Remyn.” The happy couple is
going to Italy for their honeymoon
and is currently living on New
York’s Upper West Side with their
dog Chaplin.
Cohort D rep
Sangita Jinwala Forth
sangita.forth.wg03@wharton.upenn.
edu
Cohort E rep
Stephanie Ackley
ackleys@comcast.net
Cohort F rep
Sara Kleinberg
sbkleinberg@gmail.com
In April, Cohort F’ers chimed in to
a mass email exchange, complete
with memory lane references to
cohort bingo and Hat Day 2001.
We had folks chime in from across
the U.S., as well as Hong Kong,
Ukraine, China, Russia, Mexico,
Brazil and Canada. Javier Vila
invited us all to a Cohort F BBQ
reunion in Puerto Rico, featuring
a Chef Michael Robbins and Chef
Scott Bolton throwdown challenge
against Bobby Flay. If you missed
the email party, please send Sara
Kleinberg your email address!
Cohort F will be keeping our
eyes out for Ryan Nathan in the
Couer d’Alene Ironman in June,
Grace Huang’s new baby in July,
Aldo Francisco’s fi rst baby in late
June, Seth Bair’s second baby this
summer and Forest Lin’s second
son in May.
We’ll be sure to visit Fleurish,
Susan Cespuglio’s new fl ower
design studio in Philadelphia, the
next time we’re in town.
We congratulate Alicia Smith
on her new role running Global
Business Strategy & Sales
Operations for Motorola, Mobile
Devices, and Nanhee Kim on her
move to Beijing and new role at
LG Electronics, China Strategy
division.
Ian Colville, Eric Grimes,
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Kent Wasson, Scott Bolton,
Marta Miguel Self, Jeff Wallace,
Joel Muniz, Scott Davis, Natalie
Perkins, Mike Duff y, Naomi
Hansen, Huybert Groenendaal,
Mike Boyden, Ramona Persaud,
Veronica Garcia Seffi no, Chris
Krummel, Xin Zhao and Sara
Kleinberg had no news, but
shouted out hello and “word up.”
And Guatam Kollu is daydreaming
about buying a new fl eece.
Cohort H rep
Michael Lamb
rmlamb@gmail.com
Cohort I rep
Stanley Huang
stanleyhuangwg03@yahoo.com
Cohort J rep
Vinay Gupta
vigupt@msn.com
Cohort J continues to love the
spotlight and reality TV. Brent
Sonnek Schmelz opened up the
year with “Who Wants To Be A
Millionaire” (www.millionairetv.
com). In the show aired on April
28, 2010, Brent went on to win
$100,000 in prize money. That is
a lot of trivia questions that Brent
got right. But as you can see some
of them were just too easy for
him. Brent was the well-regarded
social chair for Cohort J, who
with his equally capable co-chair
Ellene Hu famously diversifi ed
the social activities for the Cohort
with nightly excursions to dive
bars and other places of dubious
entertainment in Philadelphia. In
other memorable run-ins with TV,
you may remember Sarah Leshner
from “The Amazing Race” and
Nicholas Benedict from “The Tyra
Banks Show” and “Dr. Phil.”
In “I do” updates, Jerrlyn
Shelley Iwata and Michael Jen-
Howe Lee were married in April
in a nondenominational ceremony
at the Acqualina Resort and Spa
in Sunny Isles Beach, FL. Jerrlyn
works in New York for Verizon
Communications. She is a director
of mobile content strategy and
acquisition for the company’s
V-Cast video subscription
service. Michael is a partner in
Royal Capital Management, an
investment fi rm in New York,
where he is responsible for making
stock and bond investments in
North America. He graduated
magna cum laude from Dartmouth
College. You can fi nd a link to
their New York Times marriage
announcement in the fashion &
weddings section: http://www.
nytimes.com/2010/04/11/fashion/
weddings/11iwata.html.
In baby updates, Dan Plaxe and
wife Jennifer proudly announced
the birth of their son, Colin Jacob,
on December 1. Colin joins big
sister, Amanda, who turned 4 in
March. Dan continues to manage
a distressed credit fund that he
co-founded in early 2009. Since
spearheading the Cohort J trip to
Atlantic City during the fi rst year at
Wharton, Dan continues in his selfappointed
role as social chair by
periodically organizing events for
cohort J’ers in the New York area.
Paul Boehms and Jyl were
blessed with Noah David Boehms
who was born on December 7,
2009. That brings the total up to
three boys for the Boehms! Paul
writes that Andrew and Jacob,
Noah’s two older brothers, have
welcomed him with open arms and
Jyl is learning to cope with all of the
men in her life. Charles and Puja
Dhanraj are delighted to announce
the birth of their fi rst child,
Alexander Neal Khurana Dhanraj,
who was born on April 4, 2010.
In other updates, Facundo
Barrera left AmEx after almost
seven years to join Visa, where he
is managing products for small
businesses in Latin America. He is
still based in Miami. He says it was
an off er he just couldn’t refuse.
Brian Wong is still based in
Hong Kong with Alibaba.com
where he is now leading their
Global Sales division, setting up
operations and reseller partnerships
in export-oriented countries such
as India, Vietnam, Turkey, Brazil
and Korea. He writes that it has
been a fascinating experience for
him being on the inside of a fastgrowing
Chinese company that
has big global ambitions. He also
joined the Wharton Alumni Board
in fall 2009 and was thrilled to be
back on campus and see how the
School and its MBA program have
progressed.
Jewel Huijnen, who has been
working in the hedge fund industry
since graduation, sends in this
update from London. Jewel started
on the allocating side of hedge
funds at APG and J.P. Morgan,
and, since May 2009, has been
at the New York-based hedge
fund Two Sigma Investments.
In March and April of this year,
she exchanged Manhattan for
London to fortify Two Sigma’s
City offi ce. In those two months,
Jewel was happy to catch up
with several Cohort J and other
classmates in London. She
attended the fi rst birthday party
of Lara Rosborough, the very
cute daughter of Nese Güner
Rosborough and her husband
Angus where she also saw
Thibaut De Cours and his wife
Christine. At the British Museum
she randomly ran into Nicholas
Benedict who was visiting London
from Los Angeles. At a WG’03
Class London Mixer organized
by Mukul Sukhwal and his wife
Seema, Jewel spent a lovely
evening with Michael Larbie
and his wife Rita, Juan Lamo
de Espinosa, Fabiana Eggers,
and Ramona Persaud and her
boyfriend Anthony. At the First
Friday Drinks organized by the
Wharton Club of the U.K., Shegun
Holder and Jewel welcomed newly
expat Jennifer Bernstein into
town. And fi nally, Jewel went on a
hike in the beautiful countryside
of Kent organized by Loredana
Guglielmi and her boyfriend
Manuel Martinez-Fidalgo, WG’02.
Cohort K rep
Claudia Wilderman
wildermc@wharton.upenn.edu
In March, Cliff Bayer was promoted
to Executive Director at UBS.
Class Correspondent WG’04
Santosh Kookal
santoshk@iitbombay.org
Greetings from Sunny California.
Last year, I took a role leading
product planning for health
informatics at medical device
company St. Jude Medical
(NYSE:STJ) based in the L.A. area.
Priya Mina (5), Mohun (2), our
lab Brandy and I call Pasadena (of
“Big Bang Theory” and Rose Bowl
fame!) home now. As always, we
welcome visitors.
Cohort A rep
Santosh Kookal
santoshk@gmail.com
Cohort A continues to be a tightlipped
bunch except for Phil
Shpilberg whose Facebook updates
are consistently entertaining.
Cohort D rep
Neel Bhatia
neel.bhatia@gmail.com
Cohort F rep
Tracy Park
cohortf04@gmail.com
Jared Remington writes: “I joined
Peak Capital, a real estate private
equity fi rm, in 2009. As a partner,
my role includes investment
analysis, underwriting, fi rm
strategy, business development and
capital sourcing. We live in New
Canaan, CT, I work in CT and NY,
and always welcome catching up
with Whartonites if they’re in the
NY/CT area!”
Wayne Rudolph writes: “We
recently had our fi rst baby. Daniel
was born on January 26. He is a
pretty big kid, born weighing 8.4
pounds, and is around 14 or 15
pounds by now (he gets that from
his dad)!”
Meredith Epstein Goodman
writes: “My news is that I have a
new job. I am now the marketing
director for the skincare category
at Dior.”
Matt Fifi eld is living in Palm
Beach, FL, and building coal mines
in southern Illinois. James is now 3
years old and Mary is 1 year old!
Kelly Breast Parsons writes:
“Lucien (Cohort G) and I added
a little girl to our family, Van D.
and I am doing some independent
consulting in marketing
management.”
Jack Ryan Blawat was born on
February 19, 2010. Big, happy,
and healthy, Jack has made Nick
Blawat and Erica very happy and
sister Addison (now 2 1/2 years old)
is getting along swimmingly with
her little brother. Still in Chicago,
Nick is VP of Supply Chain at
Feeding America and Erica is still
considering whether or not to
return to work at her small highend
residential architecture fi rm.
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Cohort G rep
Anjana Nigam
anjanan@wharton.upenn.edu or
whartonalum@gmail.com
Azim Nagree and Soraiya became
proud parents of their fi rst child,
Reza, on November 3, 2009. He’s
already 6 months old.
Ashwin Hira reports that
he has left sunny California
for even sunnier UAE. Ashwin
left McKinsey after a fi ve-year
stint there to join Advanced
Semiconductor Investment
Company, a specialized investment
vehicle for the Abu Dhabi
government to invest in the
semiconductor space. Ashwin lives
in Dubai and works in Abu Dhabi.
He is often on the road (no change
from McKinsey on that front)
and travels once every month to
Singapore, Germany and the U.S.
Noah Shanok writes: “I’ve been
living in beautiful San Francisco
since our graduation. I started a
mobile Internet radio company
called Stitcher a couple of years
ago which has been one heck of a
learning experience and is coming
along nicely. I sometimes see
Tommy and Sim who are both
doing great, and I get holiday
cards from Nancy Park (Turner)
who has the most beautiful
kids! If you are in San Francisco,
please drop me a line so I can take
you out for beers.”
Cengiz Ozelsel and Chantelle
Streete are now living in beautiful
Miami. They just welcomed the
latest addition to their family,
London, who is now 3 months
old. Cengiz has created a thriving,
high-end wedding photography
business and asks us to check it
out: www.adagion.com. Recently,
he photographed the Super Bowl
charity party for Jim Carrey.
Tamara Paton reports: “We
survived another Canadian winter!
Our second little one, Sam, arrived
on February 14 and was welcomed
warmly by his 2-year-old sister,
Carly. I’m juggling the kids, along
with some independent consulting
(www.ideavine.ca). We missed
the reunion last year because we
were in the middle of moving
from Toronto to Niagara. Tom
took a clinical teaching post with
McMaster University’s medical
school and spends his free time
68 | WHARTON MAGAZINE | SUMMER 2010
riding his new tractor around
our property. We miss the city at
times, but love living in the middle
of wine country. Fellow alums are
welcome to visit, especially if fond
of ice wine!”
Cohort H rep
Andy Wickless
andy.wickless@gmail.com
Andy Wickless and Simla
Somturk are still living in San
Francisco. In May, Andy spoke
about export opportunities for
Chinese solar PV companies at
the 5th Annual Renewable Energy
Finance Forum in Beijing. On
that trip, he visited Aarti Angara
(Cohort I) in Hong Kong. Simla
continues building and loving her
business as a health & nutrition
coach. She decided a while ago to
specialize in working with busy
professionals and those living with
autoimmune conditions. Her latest
program launch was for her 28day
virtual, guided, whole-foods
based Delicious Cleanse, designed
for this group. After a week in
Argentina with Andy, she had to
do the cleanse herself too.
Tony Horsley reports: “My
wife Catherine and I have made
two additions to our family since
leaving Wharton. We now have
four children: Calder is 8, McKay
is 6, Henry is 4 and Gwen is 6
months. We moved into a new
home (new to us, old to the world)
in Draper, UT, last summer and
did some substantial remodeling.
We live at the base of the Wasatch
Mountains and have had a blast
skiing every weekend with our
kids the past couple of years. I left
Bain about 2.5 years ago to join a
small PE/Growth Capital fi rm in
SLC, UT. I was recently promoted
to Partner.”
Stephen Hartley writes that
he has been asked to head
CareFusion’s Asia Pacifi c Division
and will soon trade Kansas City
for Tokyo.
Anita Pramoda writes: “I’ve
traded my life in sunny San Diego
for cheese, lakes, colorful spring
blooms and icy cold winters in
Madison, WI. As CFO at Epic, I
go to work every morning to help
the provider community improve
patient care in the United States
and beyond.”
For those of you who didn’t
hear the news, Boris Siperstein is
now married to Nina Godiwalla,
who has a book pending release
entitled Suits: A Woman on Wall
Street. Amazon indicates that it is
due out December 1, 2010. Preorder
now!
Juan Batlle reports: “Kathy and
I are still living in Cambridge, MA,
with our twin girls, (3 1/2) Eva
and Amelie, who as of October
have a new brother, Gustavo! This
summer there will be another
big change once I fi nish up
my musculoskeletal radiology
fellowship at MGH. We’ll all be
moving to Miami, FL, where I’m
from, for me to start a job as a
private practice radiologist for
Baptist Health System. Everyone
is welcome to visit!”
Peter Bates sends his typical
“I have nothing new to report”
update (grin): “... literally nothing
has changed. I’m still married (to
Sarah, for 14 years this June), still
have 3 kids (Chris, 10, Will, 8, and
Emma Kate, 6) and a dog (Herbie,
a Golden Retriever) and am still
doing the same job at T. Rowe
Price.” He adds, “My big exciting
trip was going to the Beijing
Olympics in 2008. This summer
we are fl ying to Denver, renting a
motor home and driving around
to see all the National Parks
(Yellowstone, etc.). Very Clark
Griswoldish …”
Jackie Shen and Jason Kim
moved to Austin from NYC in
February and had a little Texan
boy named Owen on March 19!
Meredith (Chan) Krishnasamy
and husband Suresh are the proud
parents of Abigail Krishnasamy,
who is now 4 months old.
Rimmy Malhotra married
this past January in Costa Rica.
Leah Barton and Yaron Ben-Zvi
(Cohort E) attended. Rimmy is now
living between NYC and Palo Alto.
When asked for an update,
Carolyn Magill wrote: “Funny
you should ask for an update this
week, because in the last seven
days I have accepted a new role at
my company and become engaged!
Lots of fun changes recently.
I’ve been promoted to Chief
Operating Offi cer of AmeriChoice
New Jersey, a health plan within
UnitedHealth Group that serves
350,000 individuals in NJ who
have Medicaid and Medicare.
Also, thrilled to share that Tim
Hanson and I are engaged. We’re
relocating from Minneapolis to the
NYC metro area this summer, and
planning a fall wedding. Happy
times!”
Atul Aggarwal reports that
he is “still at Bain (with half of
WG’04 ...),” but recently got a
chance to do a really fun project in
education, with the Robin Hood
foundation and KIPP, one of the
leading charter school networks
in the country, “so I am feeling
particularly ‘good’ right now.”
In typical fashion, Erick
Schneider writes: “I have retired
from work to focus on working
out and traveling. Trips include
reliving the Spring Break of all
Spring Breaks as I am in Turks
and Caikos now, will go to India,
Tibet, Nepal and China for three
months this summer. Married?
No way!”
Tiff any Bray now has two kids
(a 3-1/2-year-old-boy, Austin, and
a 1-year-old girl, Aubrey). She and
her husband moved to Boulder,
CO, and are living the suburbia
life. They are about to go to Hawaii
for vacation (the fi rst trip with two
kids—yikes!). Tiff any now works
at Covidien.
Rand Clark got married on May
1. He is working as a Tech Analyst
at a NYC-based hedge fund and is
living in Park Slope, Brooklyn.
David Schuppan and wife Kate
are welcoming their third child (a
boy) in June 2010. They continue
to reside in Chicago.
Deepak Tayal reports that he is
still in New York (“no marriage,
no babies”) and works for a hedge
fund called Argonaut.
James Dolton writes: “I never
thought I would still be in banking
in 2010 but after four years at
Bear in NYC I have now been at
Deutsche in Sydney for 2 years.
On the family front, we celebrated
William’s fi rst birthday in March
and Tora and I are looking forward
to the arrival of No. 3 in August.
That will make it three under 3
which proves I am a glutton for
punishment. In other random
news I won a red ribbon (2nd
prize) for quince jelly at Sydney’s
Royal Easter Show which shocked
the offi ce and impressed my
92-year-old grandmother and
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

2-year old daughter alike.”
Emily Chow got married
in March and is still living in
Singapore.
Lisa Jordan (now Dunlea)
reports that she got married a few
years ago and recently had a baby
boy. His name is Ian and he is 10
months old.
Paula Janssen writes: “I got
engaged in March to a great guy
that many Cohort H people have
met over the years: Greg Greene,
a veterinarian. We live together in
Wilmington, DE with our dog and
four cats. My business, Janssen’s
Market LLC, just won the 2010
Rush Award for Family Business
from the Better Business Bureau
of Delaware.”
Sangeeta Desai left Apax to
take on more of an operational
role as Chief Operating Offi cer
at HIT Entertainment, producer
of children’s entertainment like
“Thomas the Tank Engine” and
“Bob the Builder.” She is still living
in London but travelling frequently
to NY.
Martin Johnston reports: “I
joined the international group
of the Carbon Trust in London
about a year ago. It’s interesting
work, stimulating the development
of low-carbon technologies and
companies. Most recently I have
been to Nairobi, Kenya and New
Delhi, India to help local lowcarbon
businesses; stopped off
for a week in the Maasai Mara
for some awesome big-5 action! I
was lucky to get a rare sighting of
Andy McAlister in London last
week. Yes, he is alive and well,
currently hiking around Scotland
as part of a European tour. Swiss
Chris (Braendli) is still acting
as social rep in London, so see
him frequently; also had a drink
and catch-up with Jon Bebo and
Simon Davidson. Steve Hartley
has taken a role as a circus
performer in Japan.”
And last but not least, an update
from Dan Riff . It took an off er of
$10 for anyone to fi nd Dan and get
an update from him. Peter Bates
wins the prize (although Dan was
trying to get his $5 share) after
having tracked down Dan (on
his BlackBerry, I suppose) at the
Kentucky Derby. Dan writes, “…co-
PM of Janus Fund and Long/Short
Fund … 19-month-old boy Mathis…
skiing as much as I can from our
Bachelor Gulch place … crashlanded
getting in here (private
plane had landing gear problems,
but all OK).”
Cohort I rep
John Paul Lussow
paul.lussow@credit-suisse.com
Cohort J rep
Richard Sim
simrichard@gmail.com
Hey JCo. Hope all’s well. Things
are good here in the Bay Area. I’m
still with Anchor Intelligence, a
startup in the online advertising
space. In my free time, I’m
picking dirt out of the mouth of
Emi, my 2-year-old; or trying to
convince Keira, my 3-year-old, to
wear something other than a pink
princess dress every day.
- Richard Sim
Adam Zotkow says: “Jodi and
I had a baby girl, Chloe Michele
Zotkow, in September; brother
Brady, 3, loves his new sister.”
Also, Adam was promoted to
Managing Director at Goldman
Sachs in November.
Breaking the stereotype that
Wharton produces mathletes,
not athletes, Emmanuel Toutain
says: “I fi nished 8th/850 in the
South Midwest Olympic Triathlon
Championship. I was 2nd/150
of my age group (men 35-39). I
qualifi ed for the 2010 National
Championship that will be held
in Tuscaloosa, AL at the end of
September. On the work side, I
am strategy director for Technip
North America. We provide
engineering, technologies and
project management to the oil and
gas industry.” Everyone cross your
fi ngers that Emmanuel will blaze
through Tuscaloosa in record time!
Abigail Suberman Chen
updates: “Big news in our family:
new baby girl Madeleine. She is
super cute and we are having a
great time with her.”
And fi nally, Jeff Reid and Ricky
Welsh watched the Texas A&M
game in December. He says: “Of
course we were hanging out in
Hermosa beach! (and the Aggies
lost) ...”
Keep the updates comin! And
check out our Facebook update:
Wharton MBA ’04 Cohort J.
Cohort K rep
Leo Garcia-Berg
leogberg@yahoo.com
Christopher Fikry and Stephanie
Mann celebrated the fi rst birthday
of their daughter Addison (WG,
2037) this past April. The family
is living in lovely Jersey City, NJ.
Stephanie is a Vice President
at Citi working in M&A and
Christopher is a Senior Director at
Novartis Vaccines.
Laura Drum Miller checks in
from the Bay area: “Andy and I
are having a blast with our son,
Nathan, who is 7 months old.
We’ve been appropriately proud of
major milestones such as rolling
over, sitting up and drooling. He’s
so fun he’s almost satisfi ed my
desire to get a dog (and they do
the same tricks!) ... we’ll see. I’ve
been back to work at Genentech
for a few months now and have
been able to fi nally visit our new
corporate headquarters in Basel,
Switzerland (fortunately after the
snow melted). Andy just recently
took a new job with Google,
heading Mobile Advertising-Online
Media Sales.”
Cohort L
Jonathan Bebo
jonathan.bebo@gmail.com
Bob and Suzanne Murray
celebrated the publication
of their 50th edited book in
May through their writing and
editing company, StyleMatters
(www.style-matters.com). They’ve
been growing the company
since 2006, when they moved
back to Philly from New York
with son Robert (5). Now joined
by daughter Avery (2), they
encourage any and all L’ers to stop
in next time they’re in town!
Rodolphe de Hemptinne
reports from London: “Nothing
new on the family front, apart
from the fact we recently moved
to a bigger house in Chiswick. On
the business front, we have closed
our second round of fund-raising
in February. CognoLink is now in
global expansion mode ...We have
opened up an offi ce in Shanghai,
where I am going to be spending
one week per month as of May
(I look forward to catching up
with the Shanghai-based Wharton
alumni from our class). We are
also in the process of opening an
offi ce in New York. If any of our
classmates are investing in Europe
or Asia, we are happy to connect
them with the right experts!”
Lastly, news of a few cohort
gatherings: Tarek Kutrieh enjoyed
a golf weekend in Orlando in
February with Jonathan Korol,
Jeremy Butteriss, Sam Hines
and Ray Chan in Orlando. Not
to be outdone, the European
contingent—Erwin Spolders, Joao
Carapeto, Jonathan Pennella and
Rodolphe—enjoyed a ski holiday
with Bernd Wendeln and other
WG’04ers in Austria in March.
Class Correspondent WG’05
Enmi Sung (Kendall)
Tel: 415-902-SUNG
enmi.sung.wg05@wharton.upenn.edu
Perhaps I oversimplify but
there seem to be a few universal
milestones for post-MBA life. It
goes something like this: fi rst post-
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 69
SIM

KUTRIEH, KOROL, BUTTERISS, HINES AND CHAN
MBA job, pay taxes, wedding,
meaningful transition to next job,
pay taxes, have kiddies, now pay
both taxes and for kids, take over
the company, pay even more taxes.
It seems like lots of classmates
are gamely nailing the fi rst few
of these milestones with no
problemo!
Exhibit A: Amritha
Kasturirangan made the move
to Chennai, India last year to
take a job there as an investment
analyst with Franklin Templeton.
She “was chatting with some of
my Wharton buddies who have
also moved back to India and
wondering whether this might be
a trend” about folks moving to
emerging markets for work.
The trend seems to be one
of Import/Export, actually. Sue
(Kolloru) Barger wrote in to share
that she and Rob returned to
Atlanta from Singapore in January.
Loved their time there, but they
“wanted to have Amara grow up
a little closer to our families.”
Edward Nevraumont also came
stateside after leaving McKinsey’s
Toronto offi ce to work as the
Senior Director of Customer
Loyalty for Expedia based in
Seattle. Ed sums it up nicely: “My
passion for travel has taken me
to a travel company where I now
travel a lot less. There is irony
there somewhere.”
Crossing just state lines is
Elizabeth Seeger, who recently
left the Environmental Defense
Fund to join Kohlberg Kravis
Roberts as an alternative asset
manager for its responsible
investment eff orts. “With a private
equity portfolio of more than 50
companies, this is a huge, but
exciting opportunity. Our biggest
70 | WHARTON MAGAZINE | SUMMER 2010
initiative has its own web site
(http://green.kkr.com.).” Elizabeth
walks the green walk with her
frequent trips between her DC
offi ce and NYC taking place via
public transportation on the Acela.
In the meanwhile, Jake Levin
and Aldo Melpignano are busy
gearing up for the biggest trip
of one’s life—a wedding! [ed.
Reminder to re-write this: sounds
like Jake and Aldo are marrying
each other.] Jake and his beloved,
Diana Junquera, are planning for a
likely very small wedding in Miami
this November. In the special way
that only Europeans can, Aldo and
his wife are upturning the regular
(bo-ring!) order of things. They’re
staging a wedding this July with
their daughters Emma Vita and
Maria Deya happily presiding! The
family will be celebrating in Puglia,
Italy.
My best friend in the whole
world, Phil Austern, had an
international wedding celebration
of his own in January. Phil and Dina
were married in a colorful festive
party in her native Cartagena,
Colombia. For the hordes who
no doubt will write in asking for
proof of his nuptials, please refer
to the accompanying picture.
Photos don’t lie unless they’re
Photoshopped.
AUSTERN
Also taking the plunge is
Matt Kolling who married Lara
(Lorenzana) in late April in “a
blowout reception at Tribeca
Rooftop” in NYC. Loads of
WG’05 abounded including:
Justin Davies, Michael Langer,
Schuyler Coppedge, Matt Elias,
Tej Arora, Greg Battle, Dave
Birnbaum, Courtney (Kramer)
Birnbaum, Kathy Bergsteinsson,
Megan Smyth, Miriam Zalcman,
Reed Schwandt, Drew Herold,
Jeremy Herz, Nicole (Botcheos)
Werner, Brandon Johnson, Ana
(Sawicki) Johnson, Leena Jain,
Mike Mortellaro, Tim DeGavre,
Niall Sheehan, Jason Fabro, Geoff
Pitfi eld, George Corey, and Jake
Levin.
The family motif is a strong
one this issue. Ian and Fiona
Simmonds welcomed their fi rst
child Charles Dexter Simmonds
on April 12. Fiona shares: “in
short, he is Ian’s mini-me” by
which she means, “Basically 100
percent Ian, 0 percent me (at
least in the looks department!).”
Only a couple of weeks younger
is Rush McCloy’s daughter,
Porter Hoke McCloy, whom he
and his wife Brooke welcomed
on April 28. Rush shares: “After
communicating with us for 10
months through kicks and twirls,
Porter Hoke McCloy introduced
herself to us in person.”
This next item is just Too Much
of a Coinky-Dink. Cate (Strauss)
Khan was kind enough to write
in that she and her husband
Imran welcomed their baby boy
Tomal Jeff rey Khan on February
22. Not only that, Cate notes
that “coincidentally” classmates
Patricia Liu and Will Brilliant
also had a baby on the exact
same day at a hospital across
town. Papa Will confi rms news of
young James Lawrence Brilliant
and notes the two sons were born
“an hour and a half apart.” Now I
would not be upholding the high
journalistic standards I pledged to
if I didn’t probe and ask on behalf
of inquiring minds: c’mon guys,
born ninety minutes apart across
the street is a mere coincidence?!
This perceptive reporter thinks
it’s more likely that both sets of
parents went to the same party
nine months prior, got pretttty
happy, and continued celebrating
back home with an excellent afterparty.
Congrats x 2!
To keep the gender scales
even, Derek and Allison Crevello
welcomed a daughter, Avery
Elizabeth Crevello, on December 11
of last year. Simos Simeonidis and
his wife Eliza are delighted with
their fi rst baby, Philippos Efthymis
Simeonidis, born on October 21.
Rafi Zitvar shares news of his
second child, Ben David Zitvar,
born on December 11. He assures
us that “Sister Lia and mother
Michelle were psyched,” though
I’ve yet to confi rm with Lia if
that’s quite the case.
Axel Lapica and Melissa
(Rodriguez) Lapica had their
fi rst child, Lucas Enrique
Lapica, on February 10, which
fell “a month early and in the
middle of a blizzard in NYC.”
The baby apparently isn’t the
only new whirlwind for the
Lapicas: Axel also left McKinsey
and is now launching his own
business, symbeo, “an innovative
subscription-based healthcare
company off ering primary care to
the un- and underinsured” with its
fi rst location opening in May in
Bloomfi eld, NJ.
Ryan Miller’s taking to heart
the lessons of the economies
of scale and literally bringing
them home. Ryan and his wife
Jennica are expecting twins this
August “taking us from 3 kids to
5, which is totally insane, but we
are excited.” The family moved
from Dallas to Salt Lake City
earlier this year when Ryan took
a position as VP of e-commerce
of Deseret Digital Media, the
digital arm of a regional media
(newspaper, TV, publishing and
retail) business. They “love being
near the mountains and near some
of the best ski slopes on earth.”
At this rate, Ryan & Co. should
be able to handily secure a group
discount to enjoy them. Despite
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

his many “kidlets” (his word,
not mine!), Ryan still had time
to recently lunch with Jeremiah
Radandt who also relocated to Salt
Lake, only a few blocks away—
apparently “a pleasant coincidence
that has happened more than
once” when they both moved into
the same Dallas neighborhood to
work at Bain some fi ve years ago
after leaving Philly. Jeremiah, given
this pattern, if I were you, I’d start
warehousing diapers in bulk very
soon.
Yvette Tan knows all about
diapers too. She and her husband
Adrian Sackett had their fi rst
baby, Christian Tan Sackett, on
December 4. Also joining the
babied ranks is Christian Selchau-
Hansen. Christian and his wife
Lou had their fi rst child, Inga
Louise Selchau-Hansen, born on
March 3. I imagine Christian’s
narrative is commonly shared
by many new parents: “We are
managing to get some sleep and
otherwise amazed at how quickly
time has passed.”
My Favorite Submission of
This Issue is from none other
than Adam Stein. Adam opens
with an accurate observation: “Hi
Enmi, you seem desperate …”, and
obliges my pleas for class news
with lots of awesome tidbits—from
wayyy abroad nonetheless! In no
ranked order, Adam shares that
he is married (“Not actually news,
because I’ve been married for a
year and a half now”), that he and
his wife are in Borneo (“as part
of an extended vacation/delayed
honeymoon kind of thing that is
taking us through New Zealand,
Australia and Southeast Asia”),
and that they’re planning to move
to Europe thereafter, probably to
London.
Keep writing in with your news,
whatever it may be. You may have
noticed—under this management,
editorial policy skews verrry open
and liberal. Acceptable milestones
include travel, partying, Crucible
MomentsTM, whathaveyou.
(Please don’t be intimidated by the
startlingly good quality of writing.)
Class Correspondent WG’06
Rodney Gibson
rodney.gibson@ambrosegroup.com
Cohort A rep
Amanda Lonsdale
amanda.lonsdale.wg06@wharton.
upenn.edu
Dmitry Binkevich writes: “After
3-plus wonderful and exciting
years at McKinsey, I have joined
Barclays Capital in New York as a
Vice President with the Strategy
Group. Much like a consultant,
I work with business line
leaders in the bank to grow their
business, identify opportunities
for expansion (both organic and
inorganic) and help them execute
those opportunities. The new
position does not require me to
travel and allows me to spend
evenings and weekends with Julia
and our daughter Dana, who just
turned 2. From what they tell me,
both Dana and Julia are happy to
have me back home full time. I’m
always looking to catch up with
Wharton folks, so please email me
at dmitryb@gmail com. I am in
Midtown West. On a separate note,
last week I ran into Ngozi Dozie,
who was passing through New
York on his way back to Lagos. He
is doing great, raising money for
his Africa-focused PE fund, globe
trotting and enjoying life.”
Alex Lauren writes: “On
September 14, 2010, Alex and
Christine and big sister Amelia
welcomed little sister Aubrey to
the family. Everyone is doing well
and Amelia is thrilled and very
protective.”
Cohort B rep
Ajay Bijoor
ajay.bijoor.wg06@wharton.upenn.
edu
Alex Grau got married on May 8,
2010 in Winston-Salem, NC, and
after four years, is still working
at American Capital, Ltd. with
our classmates, Will Rudat and
Lucia Marin. He sends his best to
Cohort B!
Joseph Kirikian moved to
Bahrain from Dubai with his exboss
recently. He writes: “Doing
pretty well and trying to build a
career in the Middle East. If you
are ever on this side of the world
look me up.”
Martin and Mokky Lemoine
are happily married, with a twoyear-old
daughter, Mélia. Martin is
still working on emerging market
investments, now with the Asian
Development Bank in Manila.
Ajay Bijoor writes: “Mona and I
are still in NY. We had our second
daughter, Yana, about a year
ago and she and her older sister,
Jaya, are growing up thug life in
Brooklyn. I would love to grab
lunch or a drink if you are in town.”
William Greene writes: “Cara
and William moved from the
Philippines to Switzerland in
2008 before getting married in
September of that year. They now
happily live in Lausanne where
Cara is fi nishing her Ph.D. and
William is working on renewable
energy investments with Etrion.
We often go skiing or hiking with
Katie Ellias and Motty Klots
who are also enjoying life in in
Lausanne and continuing their
work with Medtronic, after their
own wedding, also in September
2008. In the same wedding-rich
month, Martin Lemoine was
married in nearby Chamonix,
France.”
Cohort C
Nina Godiwalla writes: “My
husband (WG’04) and I are
enjoying Austin’s great lifestyle.
We have beautiful hiking and
kayaking in our neighborhood,
so life is quite ideal. I’m just
fi nishing up my fi rst book, Suits:
A Woman on Wall Street, which
will launch with a major New York
City publisher in December 2010.
The book is about how I used my
investment banking experience to
redefi ne my idea of success. My
national book tour will start in
December 2010, so I look forward
to seeing many of you around the
country! To fi nd out more join
me on Facebook: Nina Godiwalla
Author Page.”
Michelle Choo writes: “My
husband, Alexander Popov, and I
would like to announce the birth of
our daughter, Hailey Min Popov,
who arrived on April 14, 2010
weighing in at 7 lbs 3 oz. Being
mom and dad to Hailey is both
the toughest and most heavenly
thing we’ve done so far! We are
still in New York City and about to
move from the Upper West Side to
TriBeCa.”
Marina Hervy writes: “I moved
back to San Francisco with Booz
& Co two years ago. Recently left
consulting and got involved with
a health care technology start-up.
I’ve also been working on some
personal projects: my son David
was born soon after graduation
and a baby sister joined him
recently. Liza turns 1 in July.”
Richards Gilbert writes: “I’m in
Asia right now. Singapore to be
exact, working for Google. Nice
gig, but still getting used to being
in a “big” company!”
Cohort D rep
Rodney Gibson
rodney.gibson@ambrosegroup.com
Mona Moazzaz was married to
Rajaee Rouhani on April 17, 2010
in Dubai, where the couple now
lives.
Christophe Pella reports on
behalf of his Learning Team (J.T.
Marlin): J.T. Marlin is now split
equally between the U.S. and
London. ‘J.T. Marlin - London
branch’ (Elie Rassi, Nathan
Mackey and I) met over dinner in
Notting Hill last week to ponder
how quickly time fl ies: 4 years
now! We enjoyed” the additional
company of Arjun Somasekhara,
who has used time well: his wife
and he just had their second
kid. ‘J.T. Marlin - US branch’ is
happy to report Dina Thakarar’s
upcoming wedding. I generously
volunteered my help in organizing
Dina’s hen party, but she refused
on the somewhat surprising
pretext that she was “so afraid”
of what would happen. Dina’s
college friends seem much more
worrisome to me.
“Over Easter David
Larramendy and I ran into each
other in Stephane Girard’s brand
new wine bar in the heart of
Paris. David is now happy in Paris
although he misses the energy of
London. As for our beloved former
Wharton Wine Club president,
his wine bar is fantastic and the
business outlook is bright.”
Vishal Shah writes: “Seeta and
I are expecting a second baby
this summer to join our fi rst son,
Arjun, who is now 2 years old.
I am now a brand manager at
Campbell’s.”
Mauricio Sanchez writes:
“Since graduating in 2006 my
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wife Susana and I have had 2 kids,
Bernardo in July 2007 and David
just now in March 2010. I guess
that’s a pretty nice update for the
class notes!”
Rodney Gibson continues his
work as VP Sales at the Ambrose
Group in New York City. “Please
reach out to me if your fi rm gets
a high healthcare renewal, or is
overwhelmed by the changing
landscape of healthcare reform.
We move companies from small
group-brokered insurance onto
our Fortune 500-scale benefi ts
platform and take care of their
payroll, benefi ts, and back offi ce
HR admin—bringing scale and
effi ciency so they can focus on
their core business. We work with
hundreds of funds, and are one
of the few service providers that
actually bring a signifi cant net
savings.”
Cohort E
Daniel Simon was married last
year to Melora Krebs-Carter.
After a stint working together in
Myanmar and travelling around
the world they are excitedly
72 | WHARTON MAGAZINE | SUMMER 2010
awaiting the arrival of their fi rst
child in the fall of 2010.
Cohort F rep
Lee Work
Lee.a.work@gmail.com
Min Sim founded and launched
Om Republic, an eco-friendly yoga
apparel line. About one-third of
the designs feature chic Oriental
touches, a fi rst in the activewear
market. The designs are inspired
by Min’s background in Chinese
classical dance and her yoga
practice. The company is
based in Singapore and ships
worldwide. For details, visit www.
omrepublic.com
Cohort G
Isaac Thorne writes: “I’m still
living in London (but working on a
project in Dubai right now).”
Danny Allen writes: “I got
married to Charity Goodman,
L’07, in June of 2008. Wharton
folks who attended were Maria
Silvon, Jon Silvon, WG’07, Tracey
Gamble, Jason Dubeshter, Jennifer
Garstka, James Redfern, Jamie
���� ������������
Barrett, Zachary Klehr, WG’08,
Alison Little, Ashley Conn, Justin
Markle, Neha Champaneria
Markle, and Jose Villa. We live in
Washington, DC.”
Shiva Sekhar writes: “Hi
Everyone! We welcomed our third
son into this world on February
17, 2010. Roshan Sekhar is joining
a testosterone-fi lled house with
his two older brothers. I left
AstraZeneca and joined Celgene
last year. I am enjoying the smaller
company environment and still
focusing on new product planning/
business development in the
oncology fi eld. Please send me
your updates and pictures for the
next issue!”
Steve Uster writes: “Got
married and moved to Toronto
last summer to start my own
investment fi rm and recently
launched ElKap Financial Ltd. If
anyone is up in Toronto, please
let me know and I’d love to get
together.”
Sunil Asnani writes: “Left
McKinsey in June 2008, and have
since moved to San Francisco,
working for the India strategy of
Matthews International Capital
Management, which is an Asiafocused
mutual fund company.”
Aditya Narayanan writes: “I
left SAC at end of last year, now
working at a hedge fund in Boston,
place called Adage Capital. Also,
I am married now and my wife is
still working in New York City for
now so I am there every weekend.”
James Chern writes: “I’ve
been living in Hong Kong since
graduation. I met a wonderful
girl here and am getting married
this year. As for work, I’m a VP
at Morgan Stanley’s Merchant
Banking group making PE
investments in the infrastructure
sector in Asia. If anyone comes
by Hong Kong, I’m happy to host
them.”
Jack Huang writes: “I’m
relocating to Taiwan in May to
continue to work for Intel doing
business development. Love
to host people if they plan on
swinging by Taiwan.”
Saquib Toor writes: “Dalia and
I are proud to announce the birth
of Tarek Mahmoud Toor. He was
born on Tuesday, March 30, 2010
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at 10:11 p.m. He was 7 lbs., 6 oz.,
and 22 inches long. We cannot tell
which parent he resembles most..
Mom and Tarek are doing great!”
Jeff rey Chan writes: “Relocated
to Beijing last September. Still
with Goldman IBD. Let me know
if you are in town. Cheers!”
Kurt Grichel writes: “Living
in New York City. Have been
working at Bain since graduation.
Still running.”
Jennifer Friel Goldstein writes:
“I am still in New York at Pfi zer,
now a Director in their Venture
Capital group, investing in biotech
companies and loving it. I got
married nearly two years ago (I
can’t believe how quickly time
fl ies by) and Jeremy and I live
down in the TriBeCa/BPC area.
Would love to see those passing
through town and for us New
Yorkers, we are quite overdue for a
big get-together. I’m on the road
frequently for work, so it would
be great to keep tabs on where
everyone is living these days as
who knows, I might be out your
way soon. All the best, Jennifer.”
Cohort H rep
Katherine Cary
katherine.cary.wg06@wharton.
upenn.edu
As this is Cohort H’s fi rst update
since graduation, there is quite a
lot of news.
Jaime Padilla moved back
to Mexico City with BCG after
graduation. He spent 2008 in
London and is now in Mexico City
with his family which has doubled
in size! Sebastian was born on
March 8, 2008, and Alex was born
on December 27, 2009.
Ahmed Zaki is still with Morgan
Stanley investment banking in
London. He is with the telecoms
team and continues to focus on
the Middle East and emerging
markets. Ahmed spends his time
between London and Cairo, where
his family is based—his son is
almost 3 and his daughter is 1.
Ahmed reports that all is well and
he would love to come back to the
U.S. very soon to catch up with the
friends that stayed there.
Rio Luo is working with a PE
fund named Quad-C Capital,
which is headquarted in Virginia.
Rio is based in Beijing, China. He
and his wife had a baby boy three
months ago. JianRui (Leon) Luo
weighed 4.95kg (over 10 pounds)
and is very healthy and cute.
Esther Rajavelu is in New
York City and had a baby, Eva
Neola Johnson, on August 26,
2009. Esther reports that she and
Neil have given up hope of ever
sleeping through the night for the
next couple years, but it’s been a
lot of fun and excitement!!
Serhan Secmen and Aysu
welcomed Berke Cem Secmen on
February 23, 2010. Berke weighed
8 lbs., 5 oz. and was 20 inches
long. He is the little brother to
Bora and the entire family is
doing great.
Sylvia Lee is currently in NY.
She and her husband, Steve Won,
are expecting their fi rst child this
July. On the job front Sylvia is still
with her fi rst job out of b-school,
working as Business Planning
Manager at Standard Chartered
Bank.
Josephine Shum has been
living and working in New
York City since graduation.
She recently joined Brookfi eld
Financial and is getting married
in Bordeaux, France this
September.
James Redfern is also recently
engaged. He is still in New York
City and is working at Morgan
Stanley.
After three years at McKinsey
and Co., Marketa Wills recently
became the Director of Physician
Resources for the Texas Medical
Center campus of the Memorial
Hermann Healthcare System in
Houston, TX. In her role, she has
direct oversight of the Physician
Recruitment, Physician Relations
and Medical Staff Services
departments.
Stephen Meikle moved to Maida
Vale, London after graduation and
is living with his English girlfriend,
Emily. Stephen is still at McKinsey
where he is an Engagement
Manager and is focused mainly on
fi nancial services.
Jose Iturriaga is living in
Madrid, working for Goldman
Sachs and still not married. Itu
reports that everything is cool in
Madrid, he’s waiting for everyone
to come and visit and looks
forward to the reunion next year
and to catching up with anyone
KLOTS
going to Madrid for the Wharton
Global Alumni Forum in June.
Chris Nyren has been working
the past three years in corporate
development and global strategy
for Apollo Group, primarily
focusing on their joint venture
with the Carlyle Group called
Apollo Global, which is an
international education private
equity fund. He has done four
acquisitions including a university
focused on digital communications
in Chile, a university in Mexico
and most recently a business and
law education company in the UK
called BPP. Since the close of BPP
last year, Chris has been working
in London, but may be moving
back to the States come spring
or summer. Chris bumped into
Lora Gotcheva on the tube over
the winter and meets up with Tim
Viles fairly often.
Ryan Berger is living in Los
Angeles with Rebecca and
working at Amgen. Rebecca is
currently working at Hulu and
was recently included in an article
for the technology section of USA
Today. Ryan has been back to
Philadelphia several times to visit
Wharton on various recruiting
trips. He and Rebecca both miss
life in Philadelphia occasionally,
but love Los Angeles.
“As for me, Katherine Cary, I
spent two years in New York after
graduation. I married Gautam
Mishra in February 2008 and we
moved to Sydney, Australia soon
after. I’ve recently left consulting
to take a role in Group Strategy
at Westpac, one of the large retail
banks in Australia. Over New
Years, we caught up with fellow
WG’06s Melanie Rubinsohn, John
Kidd, Daniel Simon and Daniel’s
wife Melora. If anyone has plans
to visit Australia, please let me
know—would be great to see you.”
Shiva Rajaraman recently
joined Twitter to build out new
monetization programs after
spending the last four years
at YouTube and Google. He’s
focused on building a lasting
legacy of working at companies
with cute names.
Sonaly Aditya reports: “I
married Raul Ferrer, WG’04,
after school in Jan. 2007 in Jaipur,
India. There were tons of Wharton
people there including Marcos
Bueno, WG’04, Ricardo Maiz,
WG’04, Liz Lee Koo, WG’05, John
Koo, WG’05, Kalpesh Mehta,
WG’06, Gulnar Mewawala,
WG’06, Lora Gotcheva, WG’06,
Stefan Nedialkov, WG’06, Brian
Turpin, WG’06, Samita Mallik,
WG’06, Jose Manuel Iturriaga,
WG’06, David Larramendy,
WG’06, and Caroline Ng, WG’06.
In October, 2008 we welcomed
our daughter Ariana Ferrer
and this March 2010, our son
Alejandro Ferrer was born.”
Cohort I rep
Oliver Chen
oliver.chen.wg06@wharton.upenn.edu
59 West 12th Street
New York, New York 10011
Vishal Chopra writes: “After three
super years in Philadelphia/New
York City area with IBM’s strategy
group, my wife, Priyanka Chopra,
WG’09, and I recently relocated
to the city of Ahmedabad,
India. While I will be pursuing
entrepreneurial ventures, Priyanka
is exploring multiple options with
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Indian companies and MNCs. We
have two wonderful angels, Arnav
(6 years old) and Anika (3 years
old) who are enjoying the colorful,
chaotic life in India.”
Cohort J rep
Jay Cecil
james.cecil.wg06@wharton.upenn.edu
Joe Cohen became a Vice
President at Goldman Sachs.
Joe is helping families with risk
management, inter-generation
wealth transfer, and investment
advice. He is also involved in
recruiting activities for the fi rm’s
Investment Management Division
at Wharton.
Bala Sankaran became a dad
yet again. Renu and Bala are
welcoming Disha Sai Balaji to our
Wharton family! She was born
October 16, 2010 and she has been
an “absolute cutie pie” smiling
always and lightening their lives
ever since. Professionally, Bala
moved to an active sales role at
Google from operations. He is
currently part of the agency sales
and development team leading the
strategy and planning function.
Wiktor Sliwinski is still doing
mostly distressed debt investing,
but has started to look at some
risk-arb. Wiktor will be doing two
road trips in the U.S. this year:
Alabama, Georgia, Florida and
New York in the summer and
California in the winter.
Jay Cecil and Jordana
welcomed their second son Ethan
Kennedy Cecil on Christmas Day
2009. Mom and Dad both doing
well acclimating to life with two
kids. Jay is still working in New
York at Caxton focused on life
science investing.
Cohort K rep
Arif Janmohamed
arif.janmohamed.wg06@wharton.
upenn.edu
First off , Lauren Bloomer let me
know that she’s moving back to
New York City in early June and
fully expects all K’s to stalk her. To
maintain an air of mystery, she’s
only letting select people know
what she’s up to in New York. Call
her for more information!
Finally, Scott Shandler: wrote
“I would like to announce the birth
74 | WHARTON MAGAZINE | SUMMER 2010
of two. The fi rst being my second
son, Reuben Zachary Shandler
(March 2010) and the second
being a startup biotech company,
Longevity Biotech (April 2010) of
which I am the founder and CEO.”
He’s currently seeking funding for
both opportunities.
Thanks again to everyone who
submitted their updates, and I
hope to hear from the rest of you
for next time around.
Cohort L rep
Garron Hansen
garron.hansen.wg06@wharton.
upenn.edu
Linh Thai has spent the past
couple years in Vietnam, enjoying
the food and travel opportunities.
She is currently a Director at
DFJ VinaCapital, investing in
technology-focused venture-stage
investments in Vietnam, other
Asian countries and the U.S. In her
free time, she is planning her next
few trips, including the World Expo
in Shanghai, Mt. Kinabalu and
Nepal. Drop her line if you are in
HCMC or are interested in meeting
up somewhere in Asia: linh.thai.
wg06@wharton.upenn.edu.
Brian Kravitz is Vice President
of Business Development at
Beejive, one of the leading mobile
messaging app vendors for iPhone
and BlackBerry. Beejive’s instant
messaging platform, BeejiveIM,
has won numerous accolades
and has been featured in several
Apple print, online, and TV
advertisements. Brian and the
company are now hard at work on a
new mobile messaging product line.
Class Correspondent WG’07
Renos Savvides
renos@alumni.upenn.edu
Jorge Margain writes: “After two
and a half years working for AREA
Property Partners (a.k.a. Apollo
Real Estate Advisors), I made the
decision to move to a family offi ce
called Tresalia Capital to head the
real estate investment group. I
moved to Mexico City in January
of 2009 and I have a 1-year-old
daughter, Alexia. The address
jorge.margain@gmail.com is still
my main email contact.”
After spending a year on
assignment in Finland, David Gold
is back in New York City. Dave
is still with BCG and enjoying his
new apartment in the East Village.
Please keep sending in
your updates! New jobs, new
family members, weddings,
engagements—keep it coming.
Look forward to hearing from you
all soon.
Cohort A reps
Shirin Ghadessy and John Vogiatjis
shirin.ghadessy.wg07@wharton.
upenn.edu and john.vogiatjis.wg07@
wharton.upenn.edu
Cohort C rep
Jon Adler
jonathan.adler.wg07@wharton.
upenn.edu
Cohort D
Mei (Hung) Gechlik writes:
“Since 2007, I have been teaching
such courses as “Chinese Law
and Business” at Stanford
Law School. In addition to
being a Lecturer in Law and
Microsoft Rule of Law Fellow,
I also serve as a Visiting Fellow
at the Hoover Institution.
In early 2010, I founded Good
Governance International (GGI),
a California-based nonprofi t, to
promote good governance
through research and global
partnerships. Despite its short
history, GGI has three offi cers,
11 board members and six staff
members. GGI certainly looks
forward to collaborating with
interested Wharton alums.”
Cohort E rep
Vikram Kapur
vikram.kapur.wg07@wharton.upenn.
edu
Class Correspondent WG’08
Humera Afzal
humera.afzal.wg08@wharton.
upenn.edu.
Class of WG’09
Cohort A rep
Danica Griffi th
griffi thdanica@yahoo.com
Cohort B rep
Hannah Peterson-Mccoy
hannah.peterson.mccoy@gmail.com
Cohort C rep
Jing Zhang
Jing.zhang.wg09@wharton.upenn.edu
Cohort H rep
Christian Kellett
christian.kellett.wg09@wharton.
upenn.edu
Elizabeth Sullivan Windram
is living in the Bay Area with
her husband Anthony and
their new cat. You can follow
their adventures at http://
anthonywindram.wordpress.com/.
Arlin Tao has survived her fi rst
Minnesota winter while working
for General Mills.
Mu Mu is working for Coda
Automotive, based in Santa
Monica, CA, as the head of
business development for China.
Since graduation, Hak-Jae Lee
has been working in Switzerland.
In April, he was in Korea for one
week to vacation, meet family and
see friends (like Taemin Shim).
Michelle Khundakar and Matt
Scattarella both live (separately)
in Singapore.
Christian Kellett is still in
Philadelphia, working for Saint-
Gobain.
Saqib Jalil is working (and
living) at a boutique investment
bank in New York City.
Nobu Higuchi has his
headphones on and his hoodie up
in Tokyo, but he is in the Middle
East often for work.
Julien Guth and his wife
Sophie have moved to Dubai
where he is working in the
telecommunications industry.
Devin Griffi n married Sarah
Mantilla in August 2009 and they
now live in Chicago.
Steve Engelbrecht is living
in New York City, where he is
running half marathons and
hosting Wharton alumni barbeques
on his penthouse deck on the
Upper East Side.
Morli Desai is now engaged to
Jim Schroder. They live in Denver
and are planning for a spring 2011
wedding/Cohort H reunion.
Karina Danilyuk and Marcus
Lackey are living in Washington,
DC, where she works for
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

Rothschild.
Sahil Dalal is living in Mumbai
and working at a PE fi rm called
Advent International.
Rafael Chang is enjoying
Washington, DC and working at
Accenture.
Cohort I rep
Michele Luchejko
michele.luchejko.wg09@wharton.
upenn.edu
Fouzan Ali and Vijaya Ravindran
were blessed with a baby boy,
Aman on December 2, 2009 in
London.
Cohort J rep
Rachel E. Brenner
rachel.brenner@gmail.com
We all knew Tim Cheung was a
betting man, now we know for
sure. After graduating and touring
the world in shorts, Tim settled
down back in Australia to launch
Cheung Capital Management.
In April CCM launched its
maiden fund, the Global Gaming
Opportunities Fund, investing
in listed casinos and gaming
stocks around the world. It’s
open to Australian wholesale and
sophisticated investors only. tim@
cheungcapital.com
After a nine-month detour
away from investing and Los
Angeles, Investment Management
Club President Dack LaMarque,
WG’09, has returned to both as
an investment professional at
the private equity fi rm Theorem
Capital.
Jake Astor, spent eight months
having an excellent time in Beijing,
but needed a change of scenery
and thought he’d give Hong Kong
a go. He moved there in June to
start work with First Eastern
Investment Group, a Chinese
private equity group, investing in
mainland China. Cheers, mate!
Cohort L
On September 5, 2009, Vlada
Lotkina, WG’08, and Davide
Buzzi were married in Lucignano,
Italy a medieval village in the heart
of Tuscany. Vlada and Davide have
then celebrated their wedding
in the Castle of Modanella,
surrounded by relatives and friends,
including Isacco Neri (Davide’s
best man), Shiva Mirhosseini,
WG’08, Anna Dayn, WG’08,
Alexander Klimenko, WG’08, and
Sergey Sosnov, WG’08.
MBA for
Executives
WEMBA WG’94
West Penn Allegheny Health
System (WPAHS) President
and Chief Executive Offi cer
Christopher T. Olivia, MD,
has been recognized as one of
the nation’s 50 most powerful
physician executives by Modern
Healthcare and Modern Physician
magazines.
More than 11,000 physicians
were nominated for this elite
recognition and nearly 70,000
votes were cast to determine the
sixth annual ranking of the 50 top
physician executives.
“It is an incredible honor
for our CEO, Dr. Olivia, to be
recognized by his peers and
included on this distinguished
list of accomplished and talented
medical professionals,” said David
McClenahan, Chairman of the
WPAHS Board of Directors.
Dr. Olivia joined WPAHS in 2008
and has made remarkable progress
in turning around the Pittsburghbased
six-hospital healthcare
system.
Class Correspondent
WEMBA WG’99
Steve Tuel
stephen.tuel.wg99@wharton.
upenn.edu
Class Correspondent
WEMBA EAST WG’01
Gowri Grewal
gowri@alum.mit.edu
Four winters in Chicago was
enough for Dave Tanner and his
family. They’ll be relocating from
Chicago back to San Francisco
this summer. No idea what is next
for Dave as he is doing everything
possible to take all of 2010 off !
Mark Turner reports that he and
Tom Gibbs and their families
vacationed again together this
past winter, in Killington, VT,
this time. This was the fourth
such winter get-together for the
families. Tom and Mark agree
that the kids will be out-skiing the
adults in no more than a year or
two now.
Class Correspondent
WEMBA WG’02
Ismail Dawood
izzy.dawood@bnymellon.com
Hope all of you saw the recent
update in the latest Wharton
Magazine and read the article on
our own rock star, Rocking Roger
Crandall. Please reach out to me
or one of your WEMBA colleagues
and get us an update so we can
share what is going on in our
personal and professional lives.
So the Philadelphia group did
get together … and prompted by
the promise of Joanna Gordon in
bowling shoes, Laura Williamson
coordinated dinner at Tinto in
Philadelphia, to be followed by
an outing at Lucky Strikes. In the
midst of a blizzard (ok, it wasn’t
quite a blizzard, but more than a
fl urry) Robin and David Parke,
Wendy and Peter Haabestad,
Catherine and Keith Goldan, Max
Gowen and Brian, and Christina
Morin and Steve Graham…
along with their usual gaggle of
off spring … ate and drank to our
hearts’ content. Joanna didn’t
make it because of the snow, so
the bowling (and unveiling of
Brunswick’s spring line of bowling
shoes) will wait for warmer
weather.
Rob Pinataro has spent the
years since WEMBA becoming
a growth and turnaround guy,
completing six SBU turnarounds
at ADP and Open Solutions Inc.
Rob, Angela and the kids, Robert,
age 11, and Cassie, age 9, live
in Atlanta and are enjoying the
great family life. They frequently
vacation in the Washington-
Baltimore-Philly-Allentown
corridor due to family ties, so he
will be looking up some of you
next time he is in town. If any of
you are passing through Atlanta
sometime, look up Rob as he
would love to reconnect.
Mary Gross couldn’t get enough
of WEMBA so she came back
two years ago to provide career
management services to the
current WEMBA students—she
loves being on the WEMBA staff !
She and Brian still live in central
NJ and are busy getting their son
ready for college and keeping
up with their soon-to-be teenage
daughter.
After graduating at Wharton,
Werner Bonadurer started
his P.hD. Finance studies at
the University of St. Gallen,
Switzerland, graduating in 2007
summa cum laude. Most of his
research focused on hedge fund
investments. In 2007, Werner
published a book on Long/Short
Hedge Fund Investments. During
2003 to 2007, he managed to fi nd
BUZZI
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 75

time to lecture at the Finance &
Banking Institute at the above
mentioned university. In 2008,
he and his family relocated
to the U.S. and he assumed a
position as Associate Professor of
Finance at the W.P. Carey School
of Business at Arizona State
University (ASU) in Tempe, AZ.
At ASU, he is teaching courses on
Security Analysis and Portfolio
Management, Investment
Strategies, Derivative Securities
and International Finance at the
undergraduate as well as graduate
level, including executive MBA
students. Aside from his academic
role, he is also the non-executive
chairman of a large fund-of-hedgefund
business in Switzerland.
On April 9, 2010, Keith
Goldan, Maxine Gowen, Greg
Whaley and Laura Williamson
joined 25 WEMBA alumni from
other years to provide valuable
career advice to current WEMBA
students as part of the inaugural
“Career Conversations with
Wharton EMBAs” event hosted by
Mary Gross, Director of Career
Management Services for the
WEMBA program.
Patrick Gallager recently joined
Noven Pharmaceuticals, Inc., a
specialty pharmaceutical company,
as Vice President, Business
Development in New York (he
is in the process of moving from
Boston). Noven’s headquarters
are in Miami so Patrick gets to
bounce back and forth between
locations. He has responsibility
for Business Development
(licensing, acquisition work) and
Alliance Management (relations
with existing partners). Patrick
also reports that he was blessed
with his fourth grandchild in
76 | WHARTON MAGAZINE | SUMMER 2010
March. Truly an embarrassment
of riches!
Tara Gohlman (we knew her as
Tara Smith) reports that she and
Jay moved to Boston about seven
years ago. They were looking for a
family-friendly urban environment
and found it in downtown
Boston! Tara took a job with
Tyco International running their
Corporate Audit group for the
Americas, but soon after their fi rst
child was born and she decided
to stay home for a few years. Tara
is proud to share that Faine Ann
Gohlmann (child number 4) was
born on February 6, 2010. Her
sister, Maggie, age 5, and brothers
Ryan, age 4, and William, age 2,
were delighted with her arrival!
Class Correspondent
WEMBA EAST WG’03
Susan Pirollo
susan.pirollo@comcast.net
Class Correspondent
WEMBA/SF WG’03
Mori Taheripour
taheripo@wharton.upenn.edu
GROSS, GOLDAN, GOWEN, WHALEY, WILLIAMSON
Robert Gabriel had much to
report given the updates on his
four sons (“I feel so old”), his wife
Gladys Gabriel, WG’99, and the
continued success of his company.
“Jonathan is now in his second
year at Northeastern University,
in Boston. He is currently doing
a co-op at Lexington Insurance
(a Division of AGI). Tom is
completing his fi rst year at
Rensselaer Polytech in Albany, NY
with a major in Engineering. Dan
will attend Rensselaer starting in
September as a Business major.
Rob is going into his third year in
high school and wants to be an
architect. Gladys is doing well at
IFF as a global purchasing director
and travelling abroad quite a bit.
I continue to manage Genesis
(we are doing well despite the
economy), and launched last year
Cognise Consulting, an Innovation
and Management Consultancy
based in NYC and are doing work
in Egypt. We are establishing
an offi ce in Cairo as well. I am
teaching part-time at Fairleigh
Dickinson University Department
of Entrepreneurial Studies and
at the Jersey City Campus of the
University of Phoenix. In addition,
I continue to support Wharton as
a business plan competition judge.
Gladys and I both serve on the
Leadership Council.”
Sivaram Krishnan has had a
hectic year this past year given
Oracle’s off er to acquire Sun.
Once the deal closed, he joined
Hitachi as VP, Global Operations
and Transformation. His wife
Vijaya is a physician at El Camino
Hospital and their son Ajay, age 5,
is keeping them very busy.
Donald Landwirth also has
exciting news on the professional
front. Don reported that he was
the COO and the second employee
hired by the 19- and 23-year-old
founders of People Search Media,
LLC in April 2007. People Search
Media LLC changed its name to
Infl ection, LLC as it surpasses 25
million unique visitors per month.
Donald helped the company
establish offi ces in California,
Nebraska and Lviv, Ukraine and
achieve its multiple eight fi gure
run rate with no external fi nancing.
After staffi ng the functional areas
of fi nance, engineering, HR, legal,
customer service and business
development with VP’s such as the
former president of Match.com
and former VP, Finance of Netfl ix,
Donald has stepped down from
his day-to-day role to remain on
the company’s Board of Advisors.
Congrats, Don!
Last but certainly not least.
The most exciting news of all
comes from Kishore Seendripu
and Brendan Walsh and their
company, MaxLinear. Thanks to
updates from Ron Murayama
we’ve been hearing about
MaxLinear’s continued success
since its inception. For this edition
of class notes, I was thrilled to
hear from Kishore who reported
on the latest from MaxLinear: “I
had left my job right in the middle
of the WEMBA program to start
MaxLinear and was so fortunate
to have Ron [Murayama], Doug
Collom and Brendan Walsh join
me in this journey. With their
incredible advisory roles, and
Brendan’s outstanding business
creation skills, we were able to
achieve the IPO milestone. Now,
the challenges are myriad, but
the need for good blessings and
fortune are the same. I thank
you all for everything you have
meant to me during the WEMBA
years.” Kishore and Brendan,
congratulations on your success
with MaxLinear! This is an
amazing accomplishment and we
were so proud to see you ringing
the opening bell!
Thanks to all of you for these
updates. Looking forward to
hearing from you for the next
edition of Wharton Magazine!
Class Correspondent
WEMBA EAST WG’04
Tom Atwood
thomas.atwood.wg04@wharton.
upenn.edu
Class Correspondent
WEMBA/SF WG’05
Matt Myllykangas
Matt.Myllykangas@
HuntCompanies.com
Class Correspondent
WEMBA EAST WG’06
Brian Egras
brian.egras.wg06@wharton.upenn.edu
Todd Bolon took a new position at
LabCorp as VP of Client Products
& Connectivity in the Information
Technology Group. LabCorp is the
number two medical diagnostic
testing company in the U.S., and is
located in Burlington, NC, which
is not far from Todd’s home in
Chapel Hill.
Iain Briggs relocated to Tokyo
on May 10, 2010 to assume the
role of Chief Operating Offi cer
of American International Group
KK. AIGKK provides IT and
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

shared services to regulated
AIG businesses in Japan and
AsiaPacifi c region. Some major
objectives over the next few years
include: integrating Japan into a
new global IT Services delivery
structure and transforming the
fi nancial operations towards a
more commercially focused model.
In addition, he will continue to
lead the divestiture separation
activities in Japan for AIG’s
sale of American International
Life Insurance Co. (ALICO) to
MetLife.
After three-and-a-half years
running Strategy & Business
Development for Vorbeck, it
was time for John Crain to hang
up the lab coat and don the
suit once again. In January, he
started a management consulting
practice (www.452consulting.
com), specializing in strategic
risk assessment and alternative
revenue stream development.
John is focusing on business
development eff orts in the wireless
and technology sectors, advising
clients on opportunities to tap into
new revenue streams from existing
operations. John is still based in
Washington, DC and is supporting
clients in the Washington, DC
area, as well as New Jersey,
California and the Middle East.
If you are interested in learning
more about how he can assist your
organization, please don’t hesitate
to reach out.
Erin and Kevin Dippold are
thrilled to welcome their fi rst
child, Emma Anne Dippold (7 lbs.,
6 oz.) born in February 2010 in
New Jersey. Mom, Dad and Baby
are all doing wonderfully.
Brian Egras has taken on the
role of Director, Business Support
at Tyco Electronics Ltd. In his
new position, he will be assisting
the creation of strategy for the
company’s diverse products &
manufacturing technologies. Brian
kicked off his fi rst assignment
with a trip to Japan and Shanghai,
where he was able to meet up with
fellow classmate, Gus Giraldo.
Tom Fredell volunteers as the
Chairman of the Board of Trustees
for the KIPP Academy Lynn
(KAL) based in Lynn, MA. KAL
is part of the Knowledge is Power
Program (KIPP)—a national
network of free, open-enrollment,
college preparatory public schools
dedicated to preparing students
in underserved communities for
success in college and in life.
Anyone who is passionate about
improving education and might
like to get involved, please contact
Thomas at thomas@fredell.com!
Outside of his volunteer work,
Thomas is in the midst of starting
two companies. For one company,
Thomas has invented a process
& technology for “dynamically
segmenting” the user base
of websites. The dynamic
segmentation is used to target the
appropriate marketing message to
the potential consumer through
display advertising. The second
company, ForAllTime, is creating
the equivalent of “IntraLinks for
Moms”—that is, a secure online
repository where moms can
easily capture their most precious
memories of their kids. Thomas
hopes to launch that business in
late 2010. Family-wise things are
great; the latest addition to the
Fredell family, baby girl Eilidh,
is sleeping well and growing like
a weed (4 months old and 20
pounds already, big healthy baby!)
Bob Mecca has been promoted
to Vice President Finance -
Technical Operations & Global
Support Functions at Bristol-
Myers Squibb. His responsibilities
include fi nancial oversight for the
Company’s global manufacturing
and supply chain network and
several global support functions
such as Information Management
and Global Procurement. In his
spare time, he coaches his son’s
Bridgewater Township fourth
grade lacrosse team.
Mike Ruggieri, President of
Comar, announced that Comar has
fi nalized a transaction acquiring
100% of Universal Container
Corporation’s (Unicon) assets
from its current shareholders.
Based in Cayey, Puerto Rico,
Unicon is a leading manufacturer
of high quality injection-molded,
injection-blow-molded and
extrusion-blow-molded parts
and containers. Comar, based
in Buena, NJ, is a manufacturer
of proprietary pharmaceutical
packaging with a leadership
position in the Liquid Medication
Delivery Device Market.
Vivek Sagi and his wife Shalini
have a new addition to their family.
Their third son, Arun Sagi, was
born on February 12, 2010, six
weeks before he was due. Both
baby and mom are now doing
great and they are fi nally realizing
what they got themselves into with
three boys.
Paul Yoo left Philadelphia Park
Casino and is now the President
of US Patriot LLC. US Patriot
has two brick and mortar stores
outside of Fort Stewart, GA, (one
of the largest Army deployment
bases—home of the 3rd ID) and
one outside of Fort Jackson,
SC (the largest Army training
base in the U.S.). They also run
Internet sales out of a warehouse
in Columbia, SC, contract with
the Department of Defense,
Department of Energy and the
State Department to provide
uniforms, gear, etc. and work
with private companies such as
Blackwater, etc. to provide the
tools of the trade that they require.
Class Correspondent
WEMBA WG’08
John Mone
john.mone.wg08@wharton.upenn.edu
Class Correspondent
WEMBA EAST WG’09
Utpal Bhatt
utpal.bhatt.wg09@wharton.upenn.
edu
Class Correspondents
WEMBA/SF WG’09
Cori Johnson and Stan Allen
corinne.johnson.wg09@wharton.
upenn.edu and stan.allen65@
gmail.com
DIPPOLD
Class 33 had another banner
quarter—thanks to the many
people who sent in updates! It was
great to see so many of you at the
Day with Wharton event at the JW
Marriott in March. Once again,
WW33’s dominated the dance
fl oor and made us proud. It’s great
to see so many of you keeping
those drinking and dancing skills
fresh even almost a year after
graduation.
Shobhana Ahluwalia was the
fi rst to weigh in on this quarter’s
promotion list. Shobs writes: “I
got promoted to Vice President of
Information Technology for CBS
Corporation. I am responsible for
leading the Enterprise Resource
Planning (ERP) department for
all business units for CBS. Other
than that, life is busy as usual.
We moved to San Carlos and
also went for a great vacation to
Geneva and Munich...umm can
someone say beer!” Umm, I can
Shobs. Take me with you next
time!
Purav Jhaveri was also
promoted to Senior Vice
President-Portfolio Manager,
Investment Strategist at Franklin
Templeton Investments. He is
responsible for global equity
allocation, oversight of Asian
equities and is a portfolio manager
for global equities. The group
he works with is responsible
for $21 billion in assets under
management. Congratulations,
Purav!
In addition to promotions,
we have had several classmates
move on to greener pastures.
Joe DeMike left his production
planning position at Genentech
in March for a position in
Business Development at a Silicon
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Valley start-up called Palantir
Technologies. His new role will
send him all around the world,
including back into some war
zones, to market and sell the
most cutting-edge data analysis
tool ever to emerge from Silicon
Valley. Joe and his fi ancée Brianna
Bubeck are planning to get
married at West Point during the
summer of 2011. Brianna has just
completed her fi rst year of grad
school at USF, and scored a major
promotion at Genentech. She now
works as a Project Manager in
the Commercial Division. A few
weeks ago, Joe and Brianna moved
to Atherton, CA, into a beautiful
two-bedroom house with a big
backyard.
Josh Batie left Toyota in March
and took a new job with Fisker
Automotive in Irvine, CA as the
Manager of Customer Services.
Josh writes: “Fisker Automotive
is a California-based American
manufacturer of premium green
vehicles with the goal of leading
the automotive industry into
the next generation of high-end
design expertise and eco-friendly
powertrain technology. In this role
I will be responsible for our clients’
purchase experience and the
development of our retail network
worldwide. We launch our fi rst
vehicle, the Karma, in fi rst quarter
2011 and I expect everyone to
purchase one!”
Jesper Jensen has accepted a
position as Marketing Director
with Boehringer Ingelheim
Pharmaceuticals starting in May.
Jesper, Nellie and Johannes will be
moving to Ridgefi eld, CT. Nellie
is pregnant with their second child
(due August 3, 2010) and looking
forward to giving birth closer to
sea level.
And speaking of second kids,
Carey Lai also sent this news:
“The Lai family apparently does
not do very well bored. We
recently bought a new home in
Palo Alto. Why? We’re expecting
our second addition to the family
to arrive by August 2, 2010. We’re
looking forward to more sleepless
nights.” Congratulations to both
the Jensen and Lai families. We
78 | WHARTON MAGAZINE | SUMMER 2010
don’t have any pictures this time
around, so we can save our quota
for the many baby photos I am
expecting in our next update.
John O’Connor is settling in to
his new life and job in New York
City. After working at the Stanford
University Endowment for four
years, he joined the investment
team of Summit Rock Advisors
in the summer of 2009, covering
private equity and real asset
investments and formulating asset
allocation strategy for his fi rm’s
clients. Summit Rock Advisors was
co-founded by David Dechman
(former head of Goldman Sachs
Wealth Managment) and Nancy
Donohue (former CIO of the
Harvard Mgmt Company) and
serves as the outsourced CIO for
U.S.-based philanthropic families
and foundations. John lives in
Greenwich Village and while
he misses the sun and surf of
California, is enjoying New York
City. He looks forward to getting
together and catching up with any
WEMBA classmates who make
their way to the Big Apple.
Jonathan Alcabes began a
new job at the beginning of
year as Manager at Accenture.
Specifi cally, he is working
within Accenture’s Management
Consulting, Sales Transformation
and Sales Strategy practice.
Thanks everyone, for sharing
your news. As I (Cori Johnson)
write this, I am taking one last
look at Lake Washington as
the moving company is taking
inventory of the hundred plus
boxes that comprise my life’s
possessions. I’m headed for
Boulder, CO, and a Senior Global
Platform Manager position
with Covidien Respiratory and
Monitoring Solutions. More on
that transition in our next update…
by then I hope to be an expert
bow hunter and making my own
jerky (or at least working on my
fi rst suntan in many years). Keep
those messages coming and I look
forward to our next update this
summer!
Obituaries
1930s
Edward B. Hawley, W’35,
died on October 18, 2009 at
his residence in La Jolla, CA,
at the age of 96. He was car
distribution manager for Buick
Motor Division in Philadelphia,
PA for over 40 years. He is
survived by his wife of 65 years,
Ruth, son Ed and daughter
Beth, and two grandchildren.
1940s
John C. Alexander, W’40, age
92, of East Gloucester, MA,
died on Sunday, December 6,
2009, peacefully at his home.
John grew up in Gloucester
and attended Gloucester High
School where at his graduation
in 1935, he held the rank of Lt.
Colonel in the R.O.T.C. He went
on to graduate from Wharton.
After college, John became a
fl ight offi cer and instructor in
the Navy. He was a Squadron
Commander aboard the USS
Enterprise during WWII. In
1947, John, his father and
brother started Beacon Marine
Basin, Inc., located in East
Gloucester. He is survived by
his wife Anne, his two sons and
expanded family.
Roberto de Jesus Toro, W’40,
WG’43, age 90, of Ponce,
Puerto Rico, passed away on
October 21, 2008. While at
Penn, he was a member of the
Sigma Chi Fraternity and the
lightweight crew squad.
After his second graduation
from Penn in 1943, he served
in the U.S. Army during World
War II. At the end of World War
II, he held positions in various
agencies and departments of
the Government of Puerto
Rico, including the Department
of Agriculture, the Planning
Board, and the Government
Development Bank, and as
Director of the then newly
created Offi ce of Management
and Budget. Over this period, he
served under three Governors,
including Guy Rexford Tugwell,
W’15, GrW’22, the last non-Puerto
Rican Governor appointed by
the President. He was prominent
in much of the legislation and
administrative reforms that
culminated in the creation of a
modern local government.
In 1954, he joined Banco de
Ponce where he worked for 30
years and became its longtime
President and CEO. He held these
positions until his retirement in
1983. Over the years, he was a
board member of many public
and civic organizations, among
them the American Red Cross,
Union Carbide Corp., University
of Puerto Rico and the Penn
Club of Puerto Rico. During his
entire adult life, he maintained
close friendships with several of
his former Penn classmates and
visited the University on many
occasions; the last of these visits
was in the fall of 2007.
He is survived by his wife of 61
years, Sylvia, two sons (Roberto
and Nestor, W’75), two daughters,
(Sylvia and Ana Maria), as well as
by 11 loving grandchildren.
Eino O. Kero, W’47, age 87, of
Orlando, FL, passed away August
14, 2009. Mr. Kero served in the
Navy during World War II and
received his honorable discharge
in 1946. He graduated from
the University of Pennsylvania
in 1947. Following graduation,
Mr. Kero began working as an
auditor for Ford Motor Company
in Detroit. He married Miss Mary
Evelyn Rivett in 1954. In 1960,
he was promoted to the position
of Finance Manager in Ford’s
International Division where he
was assigned to work on Portugal
and Finland. After his overseas
assignments, he returned to
Detroit and continued with Ford
Motor Company until he retired.
EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

After retiring from Ford, he moved
to Orlando, FL, permanently in
1977. He became an avid golfer
and was a regular at Orange Tree
Country Club. He was preceded
in death by his wife, Mary. He
is survived by many nieces and
nephews. In lieu of fl owers,
memorial contributions may be
made to SPCA of Central Florida.
1950s
Paul Lemmer Billig, W’59,
passed away on Friday, March 5,
2010 in Daytona Beach, FL. He
moved to Ormond Beach, FL,
from New Jersey in 1997. Before
his retirement, he worked as a
Computer Systems Developer with
Bell System. Outside of work, he
was a member of Prince of Peace
Catholic Church, in Ormond
Beach, FL, and he was also a 4th
Degree Knight with the Knights
of Columbus. Mr. Billig was the
President of the Police Academy
Auxiliary, and past President of
the Hospital Auxiliary, A.A.R.P.
and Telephone Pioneers. He leaves
behind to cherish his memory his
loving wife of 52 years, Evelyn;
son, Paul C. (Beth) Billig; brother,
Thomas Cliff ord (Paige) Billig,
Jr.; and three grandchildren, Dr.
Kelly (Michal) Billig-Figura,
Janelle Billig and Matthew Billig.
Memorial contributions may be
made to the Pregnancy Crisis
Center, 416 N. Ridgewood Ave.,
Daytona Beach, FL 32114 or St.
Jude Children’s Research Hospital,
501 St. Jude Place, Memphis, TN
38105.
1960s
Michael J. Tate, C’62, WG’64, age
69, died Saturday, March 27, 2010
after a long and courageous battle
with cancer. At Penn he lettered in
both football and baseball and was
a member of Sigma Chi. During
his 40-year business career, Mike
held senior sales and marketing
positions with the Colgate-
Palmolive Company and several
of its subsidiaries. Mike worked
with Sports Endeavors’ Team
Sales Group in Hillsborough, until
ill health forced his retirement.
Mike was an active participant in
youth athletics, coaching soccer
and baseball in Durham, NC. He
was a supporter of Penn baseball
and Duke University men’s and
women’s soccer and lacrosse
programs. Mike was an Iron Duke,
a member of Penn’s Weightman
Society, the Graduate Baseball
and Sprint Football Clubs and
the Varsity Club. Mike became a
cheerleader for and supporter of
other cancer patients. A smile,
words of encouragement and
Jimmy V’s “Never Give Up” pep
talk were all part of his heartfelt
concern for others. Michael
is survived by his loving wife
Carol, sons Colin of Durham
and Gregory of Baltimore; Peter
and wife Koy of Ching Mai,
Thailand; James and wife Kenia
and grandchildren Nicolas and
Isabelle of Redding, CA; a brother
Peter and wife Ronnie Tate of
Princeton, NJ; and nieces Shannon
Tate Freehart and Amanda Tate.
Donations may be made to the
Duke University Cancer Center,
c/o Dr. Jeff rey Crawford, Chief of
Medical Oncology, DUMC Box
3476, Durham, NC 27710.
1970s
Alan D. Bernstein, W’79, age 52,
passed away on January 27, 2010.
Born and raised in New York, Alan
was a devoted husband to Janet
and father to Eric and Kate, and
adored brother of Steven and Gail.
We will forever remember and will
sorely miss Alan’s unselfi sh love
and devotion to his family, his
unique intellectual gifts and his
indomitable spirit.
2000s
Dustin Joseph Drapkin, W’09,
passed on March 5, 2010 in
Snowmass Village, CO. Dustin
was raised in Alpine, New Jersey,
where he attended Dwight
Englewood School. He graduated
in 2009 from Wharton with a
dual major in Management and
Music. Dustin was set to embark
on his passion to become a chef,
having recently been accepted
to the French Culinary Institute.
Dustin had a passion for life that
was contagious to all who had the
fortune of knowing him. While
his life was certainly too short,
those who were touched by him
understand that the quality of
existence far exceeds the quantity
of time in which one lives. His
smile, humor and passion for life
brought so much joy to both family
and friends. Dustin is survived
by his loving parents, Donald and
Bernice of Alpine, NJ; devoted
sisters and brothers Matthew,
Dana, Nicole, David and Amanda;
beloved brother-in-law Josh and
sister-in-law Annie; and adoring
nieces and nephews William, Lilly,
Annabel, Emma and Charles.
Douglas James Sheppard, WG’10,
passed away on February 2,
2010. Doug graduated Magna
Cum Laude from the University
of Delaware with a Bachelor
of Science degree in Business
Administration and most recently
was working toward his MBA at
Wharton. As a management and
strategy consultant, he worked
and lived in Portugal, Spain and
New York City. Doug was skilled
at business analysis and creating
new fi nancial products and was
regarded by his colleagues as an
entrepreneur. He was admired
for his deep intellect and creative
problem solving abilities. His
college friends talk about his
charisma, how much he loved
giving parties, and said that
everyone wanted to be around him
and were better for it. He lit up
a room. His high school friends
will remember his beautiful green
eyes and his having “saved the
day” playing the role of “Chico.”
A world adventurer, Doug
enjoyed his many travels through
Europe, South Africa, Australia,
and the Americas. He had great
fun running with the bulls in
Pamplona, partying at Carnival in
Rio, toasting the New Year in Cape
Town and in Sydney, cheering
at the World Cup in Portugal,
cruising the Greek Islands,
sky diving and scuba diving in
Panama, and bungee jumping in
Costa Rica.
His father Stuart, mother
Bonnie, brother Steve, twin sister
Jill and brother-in-law Lee love
him deeply. He is also beloved
by his two grandmothers, his
Uncles Bill and Howard, his aunts,
uncles and cousins in the U.S. and
Australia and by his very large
circle of friends here and around
the world. His spirit, good nature
and generosity inspired us all.
Donations in Doug’s memory may
be made to the Douglas James
Sheppard Memorial Fund at the
Prechter Bipolar Research Fund at
http://depressioncenter.org/giving/
gift.asp or mailed to the University
of Michigan Depression Center,
4250 Plymouth Road, Room 1332,
Ann Arbor, MI 48109-2700.
Raphael Speck, WG’10, was
fatally hit by a car on June 5 while
crossing the road in his native
Switzerland. His wife, Cornelia,
was also seriously hurt, and as
of press time was receiving acute
medical care. Funeral services
were held on June 18 in Zumikon,
Switzerland. In a letter to the
campus community shortly after
Speck’s tragic death, Peggy Bishop
Lane, Deputy Vice Dean of the
Graduate Division, B. Kembrel
Jones, Deputy Vice Dean for
Student Aff airs, and Anjani Jain,
Director of the Graduate Division,
described Speck as “a gentle
soul” who possessed a “quiet
intelligence, humor, charm, and
contagious good spirit.”
John Stockton, emeritus
professor of legal studies
and business ethics, passed
away on May 2 at the age
of 86. Professor Stockton
joined the Wharton faculty
in 1953 and served as
Chair of the Business Law
Department (now Legal
Studies and Business
Ethics) from 1963-1971.
He retired in 1989, but
continued to teach at
Wharton until 1995. His
research focused on sales
law and he was the coauthor
of a textbook on law
and the legal process.
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 SUMMER 2010 | WHARTON MAGAZINE | 79

Final
Exam
� ink you could still ace your way through Wharton? Well, here’s
your chance to prove it.
In each issue of Wharton Magazine, we’ll test your knowledge with
a question taken straight from an actual Wharton course exam.
Submit the correct answer and you might just walk o� with a
great prize—a Wharton Executive Education program.
� is issue’s Final Exam question comes from Todd Sinai,
Associate Professor of Real Estate and Business and Public
Policy. Professor Sinai sent along a question about everyone’s
favorite topic: Mortgage-backed securities. Good luck—and
remember … real estate is all about location, location, location.
The Basics
Commercial Mortgage-Backed Securities
(CMBS) are created by pooling commercial
loans varying in size, property type and
location, and then transferring those pools
to a trust. The trust then slices the pool
of mortgages into tranches, which are
underwritten and issued as a series of bonds.
(Note: A tranche is a single issue of a security
released at di� erent times. The originator is
the entity that made the original loans.)
Sales of CMBS averaged approximately
$75 billion a year from 2000 to 2004. Sales
were $179 billion in 2005, $221 billion in
2006 and $248 billion in 2007. But according
to Bloomberg.com, sales of CMBS dropped
to $11.15 billion in 2008.
80 | WHARTON MAGAZINE | SUMMER 2010
Question:
Is the following statement
true, false or uncertain?
Bond purchasers should
be willing to pay more
for a CMBS tranche if the
originator of the underlying
mortgages buys all of the
most subordinate tranche.
ON
THE
� ink you know the answer?
Submit your response to
WEB
fi nalexam@whartonmagazine.com
or magazine@wharton.upenn.edu by Sept. 1.
Professor Sinai will post the correct
answer on Sept. 2. One winner will be
selected to attend, tuition-free, one Executive
Education, 3- to 5-day open enrollment program.
Does not include travel, expenses or personal costs incurred; subject
to availability and admissions criteria; excludes the Advanced
Management Program, Executive Development Program, Essentials
of Management, Health Care, Industry-Specifi c and Global Programs.

Th e road you choose
makes all the diff erence.
Wealth management for families with substantial wealth is about
manager selection, investment decisions, and protecting your wealth.
Th e choices you make will decide your family’s fi nancial future. Choose wisely.
Inform your wealth management choices with this program
for investors and families with substantial assets:
Private Wealth Management
August 15–20, 2010 . Philadelphia, PA
To register, please visit our website:
ExecEd.Wharton.UPenn.edu
For more information, contact us at
1.800.255.3932 (U.S. and Canada),
+1.215.898.1776 (worldwide), or email
execed@wharton.upenn.edu.

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