Thunderbird Magazine, Volume 50, Number 1 1996

              The American
Graduate
International
Volume 50,
1996
Annual Report P. 19 • T'bird Ranked No.1 by u.s. News P. 14 • Russia's Northern Taiga P. 58
THUNDERBIRD
7 10
2
Russia's Future
These T'birds are
marching straight into
Russia's new future.
56
No Turning the Are There Profits Do You
Clock Back in Stock Splits? Know Me?
German Ambassador New study shows Lots of photos from
Otto von der Gablentz surprising performance the 1995 Homecoming
analyzes Russia's entry for stock splits over on Campus!
into modem world. long term.
12
14
38
58
President Fujimori, I Presume
The President of Peru goes one-on-one with students, while
Wall Street gurus show students a thing or two during Wmterim.
News
U.S.News ranks Thunderbird NO.1· '86 graduate named
director of alumni relations • New Tbird directory available
soon, plus more!
Network & Updates
T'bird news from around the world.
Alumni Focus: CEO Brian Reilly '66, Korean banker
Jae Suk Lee '73, Kodak's John McDermott '81, and the
news from Tanzania courtesy Swair Desai '90.
Letter from Elsewhere
Beauty and trouble from Russia's Northern Taiga,
by William K. Wasch, Jr. '92.
Annual Report
Thunderbird's 1995 Annual Report, plus list of alumni
who contributed.
Thunderbird Directory
Alumni Relations (602) 978-7135 (phone)
(602) 978-6814 (fax)
e-mail
Admissions:
Alumni Relations:
Career Services:
Communication:
johnsor\i@t-bird.edu
combes@t-bird.edu
casej@t-bird.edu
crowelln@t-bird.edu
mcmillat@t-bird.edu
Thunderbird Magazine
Volume 50, Issue 1, 1996
A publication of the
Alumni Relations Office of
The American Graduate
School of International
Management, 15249 N. 59th
Avenue, Glendale, AZ
85306-6006 (602) 978-7135,
FAX (602) 978-6814
Assistant Vice President for
Communication and Editor:
NeldaS. Crowell
Managing Editor:
Thomas McMillan
Contributing Writers:
Swair Desai '90
Kristi Howell '95
Mary Mitchell '95
William K. Wasch, Jr. '92
Communication Secretary:
Gwen Swanson
Editorial and Production
Assistants:
Melanie Marks
Jay Oglesby
Susannah Scaife
Design:
Pat Kenny Graphic Design
Assistant Vice President of
Alumni Relations and
Giving:
Susan Combe
Director of Alumni
Relations:
Joy C. Lubeck '86
Assistant Director of Alumni
Relations:
Michelle Olson
Alumni Relations Staff:
Advertising Director:
Janet M. Mueller
ReceptionisliSecretary:
Connie Wilby
Receptionist/Clerk:
Chris Mosakowski
Submissions may be
sent electronically to
Thomas McMillan
through the Internet:
mcmillat@t-bird.edu or
through CompuServe
74371,15
ON THE COVER:
Novadevichy at sunset
Thunderbird Alumni
Association 1995-1996
Board of Directors and
Officers:
Chairman of the Board:
H. Gene Wick '60
President:
Michael T. Dillon '78
Vice Presidents:
Vickie Austin '93
Thomas L. Guetzke '86
Christopher P. Johnson '86
Carolyn Polson O'Malley '70
Mike A Santellanes, Sr. '50
Secretary:
Joy C. Lubeck, '86
Ex Officio Members:
Roy A Herberger, Jr.
John E. Berndt
John C. Cook '79
President, Associated
Students Legislative Council
Board Members:
Beatrice Cueto, '87
Stephen J. Doyle, '82
Maarten Fleurke, '79
Marcos R. Garay Velasco, '79
McDiarmid R. Messenger, '72
Joseph A O'Neill, 'SO
Stephen K. Orr, '79
John C. Schuldt, '85
Honorary Board Members:
Joseph M. Klein '47
The Alumni Relations Office
has implemented a new data­base
software to better main­tain
and enhance the Thunder­bird
network. Alumni data
continues to be released to
the Thunderbird community
only for noncommercial pur­poses.
Please contact Alumni
Relations if you do not want
your name and preferred
contact information given to
your peers upon request.
Thunderbird,TheAmerican
Graduate School of Inter­national
Management, is com­mitted
to non-discriminatory
practices in employment,
admissions, and educational
programs and activities.
Thunderbird is an equal
opportunity, affirmative
action employer that complies
with applicable federal,
state and local laws, statutes,
orders and regulations pro­hibiting
discrimination on the
basis of race, color, religion,
national origin, gender, age,
disability and veteran status.
PAGE ONE
us. News Ranking Drives Message Home
No. 1 ranking in international business reinforces
Thunderbird's reputation as leading business school
Thunderbird's reputation as the
leader in international business
education has always been strong
outside U.S. borders. But according to
U.S. News & World Report's just­released
survey of "America's Best
Graduate Schools," Thunderbird is also
recognized as the No. 1 international
business school in the U.S.
The exclusive survey positioned
Thunderbird in the leading spot ahead of
the University of South Carolina, the
University of Pennsylvania's Wharton
School, Columbia University, and
Harvard.
While media surveys are often criti­cized
for being highly subjective,
Thunderbird President Roy Herberger
says that a No.1 ranking in a widely read
publication such as u.s. News goes far
in promoting the School's worldwide
reputation, particularly among corporations.
"We've known for a long time that Thunderbird is the
best at what it does, but having that ranking is important,"
says Herberger. "It increases the
value of our stock among CEOs and
leading corporations. That increase
in reputation alone can have a signifi­cant
impact on our success."
The U.S. News rankings are based
on four factors, including student
selectivity, job placement success,
national reputation among business
school deans, and the school's repu­tation
with corporate recruiters. This
year corporate recruiters ranked
Thunderbird No. 23 among all U.S.
business schools in general.
Other leading business magazines
have also ranked Thunderbird very
highly. Last October Business Week
magazine placed Thunderbird's exec­utive
education program as one of
the 20 largest in the world, with $6
million in annual revenues and five­year
growth of 900 percent. Last September Success maga­zine
ranked Thunderbird as one of "The Top 25 Best
Business Schools for Entrepreneurs." •
What's Your Opinion? Q: Are you willing to help strengthen
the Thunderbird network?
The opportunity to join
Thunderbird's world­wide
alumni network is
a major reason many students
choose Thunderbird for their
education. As a result, stu­dents
often ask the Office of
Alumni Relations if they can
contact alumni (for example,
for help in class projects or
for gathering information
about specific com­panies
or job
prospects). While
Thunderbird wants
to help students
access the. network,
we also want to
respect the privacy
of our alumni.
Many of you have
already expressed your will­ingness
to assist students by
allowing us to put your name
on our volunteer list. We
would now like to find out
whether more of you wish to
be available to help students,
and if so, how. Please fax us
(602-978-6814) your responses
to the two questions at right:
Other comments
are welcome.
Thank you for
your feedback.
Fax to
Office of Alumni
Relations
(602) 978-6814,
or E-mail us at
lubeckj@t­bird.
edu
1. What alumni contact
information is okay to
provide to students if
requested?
(check all that apply) o Work mailing address o Home mailing address o Work phone number o Fax number o E-mail address
o Students should not be
able to contact alumni
for information
2. I would welcome students
contacting me for:
o General career advice o Industry information
related to student
projects
o Country information o Job search assistance
FAX TO: 602-978-6814
o I would like to serve as a volunteer contact for
T'bird students.
NAME
ADDRESS
PH FAX
KREMLIN ARSENAL: Business deals have replaced guns as Russia's lifeline to the future.
his year may turn out to
be a defining moment in
Russia's transition to a
free-market economy.
The upcoming Presi­dential
election in June
pits reformist President
Boris Yeltsin against Communist Party
chief Gennady Zyuganov. If Zyuganov
wins-a possibility no one is discount­ing-
who lmows what reversals of for­tune
Russia will suffer? Zuyuganov
could be pressed to re-nationalize prop­erty
or regain state ownership of the
economy.
So what do Thunderbirds doing busi­ness
in Russia right now have to say
about this possibility? Of course that
initiative hard-wired into the Russian
worker's psyche. "Try running a suc­cessful
business in a country where his­torically
quality doesn't matter and
profits have always been irrelevant,"
says one T'bird.
Given all these hardships, why do the
three T'birds whose stories follow here
seem so sure that Russia is where they
want to be? "I've been all over the world,
and I chose to come to Russia," explains
Mary Pat Sloan '77. "Because you lmow
what? There is so much opportunity. "
Opportunity and Russia. For many,
the two words are synonymous, sym­bols
of what it means to be a leader in
international business-and a T'bird.
might happen, it's Russia. ....-----------------...,.-.,.,....,-
Whether you are talking
political stability or making
phone calls, Russia is a dif­ficult
place to do business,
say the more than 50
Tbirds living there now.
There are the unpredictable
tax laws. The often contra­dictory
commercial legal
system. Not to mention the
onerous task of locating
space in which to do busi­ness
in the first place.
Then there is the chal­lenge
of overcoming years PORT OF ST. PETERSBURG: Russia's abundant natural resources are
of pessimism and lack of in high demand.
THUNDERBIRD 50 I , I '996
Mary Pat Sloan '77 * Global Veteran
'SO MUCH OPPORTUNITY'
Mary Pat Sloan '77 of Alphagraphics
is responsible for opening the first
Western-style print shops in Moscow.
In her 17 years with Alphagraphics,
she has helped launch operations all
over the world, including Hong Kong,
Canada, and Mexico. Her next task is
to launch Alphagraphics across all of
the former Soviet Union.
For me, working in Russia has some­times
been more of a personal
adjustment than a business adjustment.
You definitely have to have a sense of
adventure to work in Russia. Sure, there
are Westerners who have a $10,000
monthly housing allowance and can live
in a Western-style house with servants;
but most everyone else-me included­lives
in Russian conditions. "Russian
conditions" mean business problems
often pale in comparison to simple
things, like getting laundry done.
But business must succeed despite
living conditions. So I subscribe to the
theory that the Alphagraphics concept
works anywhere, even in Russia If you
let yourself get into the mentality of
"this is a foreign country and you can't
do that here," you end up achieving
much less than you could. Ninety per-
DANCING BEAR: The Russian people watch as the struggle for political control plays out.
cent of success here is attitude. I just
don't accept excuses. I tell my people,
sure, we can't do everything all at once
and we can't do everything today, but
we can do just about anything here.
Still, it's real easy to get caught up in
pessimism in Russia. I find that there
are certain things that work against
people here, like the prevailing attitude
that the glass is half empty instead of
half full. But once you've figured out
where the other person is coming from,
I have not found it difficult to get
around those attitudes.
For example, I like to say that Rus­sians
are used to a "worker's paradise."
knit within their own circle. At work we
just ask them to extend that circle to
the customer. My employees end up
taking care of customers like they were
family. So I reward by paying people on
incentives, which is a new but welcome
concept for them. They learn if they are
productive they can earn good money. I
don't believe just because we are in
Russia let's pay everybody $50 a month.
Another major stumbling block with
employees is that there has always been
a special class in Russia, and it is hard
for people to get away from that cultur­ally.
One time I overheard one of my
people saying to a new employee, "Mary
By that I mean customer ser­vice
was not important in
Russian society because the
worker was important, not
the customer. But with com­petition
coming in and a
wider range of services, cus­tomer
service is starting to be
a differentiator. I know,
because I have eager employ­"
Ninety per­cent
of suc­cess
here is
attitude. I just
don't accept
excuses."
Pat's customers get special
treatment." I said, "Whoa!
The fact that I am waiting on
them doesn't mean they are
getting special treatment. I
am not the exception, I am
the example. I want you treat
every customer like you see
me treating them."
ees that want to learn Western ways and
who get very enthusiastic about includ­ing
the customer in their circle of con­cerns.
In fact, I have found Russians to be
friendlier than Americans in a number
of respects. Culturally, they don't have
the number of casual acquaintances
that Americans do, but they are close-
Ironically, my employees
think I am extremely eccentric because
I drive my own car, I carry stuff out for
employees, I get in there and collate and
staple and fold. I'm not eccentric, I'm
motivated. I've been all over the world
with Alphagraphics and I chose to come
to Russia, because you know what?
There is so much opportunity. To me,
it's the early 1970s in America again in
terms of the printing industry, just wait­ing
to explode.
Still, things change here all the time.
If you are used to doing it one way and
you can't adapt, Russia is not a very
good place for you. But nothing here is
the worst in the world. Brazil is worse
for customs. Traffic is worse in Istanbul
and Mexico City. Poverty is worse in a
lot of places. Well, maybe it would be
tough finding colder places.
(There are between 40 and 50 T'birds
in Moscow, and most of them are
Mary Pat's customers.)
Bob Courtney 'SS * Entrepreneur
'RUSSIA IS A FLUID SITUATION'
Bob Courtney '88 is the principal
owner and general director of u.s.
Dental Care, the first dental care
facility in Russia offering American­style
dentistry. Courtney's facility is
large, nearly 3000 sq. ft. with six den­tal
chairs. He employs four American
dentists and a cast of supporting
Russians.
My partners and I started U.S. Dental
in 1994, with the objective of mak­ing
our Moscow office the flagship of a
series of U.S.-style dental care facilities
across Russia, the CIS, Eastern Europe
and S.E. Asia. Two years after startup
THUNDERBIRD 50 11 1 1996
"It is extremely
easy here to
draw wrong
conclusions from
what seem like
obvious signals."
expats and tourists from
Western countries.
The number one obstacle
we had to overcome at the
start-up of our business was
~ simply locating a proper facil­~
ity. By "proper" facility I mean
z one with a lease that was on
g sufficiently solid legal ground
~ so that we could justify a sub­@
stantial investment in build-
§ ing improvements. This
it search for space has delayed
RUSSIAN PEOPLE: Living conditions are improving but still rough. many business here from
starting. It remains a difficult
obstacle, even though Western-quality
space is becoming available at a rapid
pace. To put it in entrepreneurial per­spective:
finding space here in Moscow
makes the raising of investment capital
seem a relative cinch.
(and only one year after actually open­ing
our doors) we are succeeding, tem­pered
by the knowledge that starting
and running a business in Russia is
extremely difficult.
Our success has resulted in part from
the growing demand in Russia for
Western-quality services. Our service
level is at a premium, as is our pricing.
Our clientele is about 70 percent Rus­sian,
mostly the "new" Russian con­sumer
who wants quality goods and
services. The rest of our patients are
I have found that the biggest mistake
outsiders make is thinking that Rus­sians,
because they look pretty much
like Western people, have a Western set
of orientations and ways of thinking
and working. The reality is very differ­ent.
For example, Russians have a great
deal of hesitation in taking initiative or
anticipating problems before they
occur. In a recent survey of American
companies here in Russia, 78 percent of
the respondents listed initiative issues
as the most difficult management prob­lem
to address.
To do business here you also must
understand that Russia is a very "fluid"
situation. When viewed from a Western
management point, it is extremely easy
here to make wrong judgments, or draw
wrong conclusions from what seem like
obvious signals. Here you negotiate dif­ferently.
You cultivate relationships dif­ferently.
You also need to have a
surrounding network of good strong
relationships-on top of your legal
structure-to make sure your business
is sufficiently stable to survive in a con­tinuously
shifting environment.
Most important, for anybody to be
successful doing business here you
have to be successful living here. Living
in Russia can be an extremely difficult
and frustrating experience. You must
have high quantities of patience and
flexibility, plus the ability to take change
and surprise in stride. Not all people,
even T'birds, are suited to live and do
business here. On the other hand,
Russia is an extremely stimulating
place. You'll find very few foreigners say
they are bored.
From a broader perspective, I think
this great country is going to experience
many years of the hiccups. But it will
continue to improve, and continue to
So you want to work in Russia?
If you are an executive who wants to work in Russia-and
you've got the right language, industry, and cultural creden­The
competition is stiffer now too, says Johnson, thanks to
better trained managers in Russia. A few years ago Russian
senior managers only made 30 percent of what their Western
counterparts made. Today salaries are almost on par.
tials to show-T'bird Krissa Johnson
'92 is a good person to know.
Johnson is a principal with Ward
Howell International, Inc., an interna­tional
executive search firm. She special­izes
in placing expatriates in overseas
positions for client companies around
the world, including the former Soviet
Union.
Krissa Johnson '92
According to Johnson, a number of
important trends have emerged in the
executive recruiting arena for Russia.
One trend is that companies are expecting not only that
executives recruited to work in Russia speak fluent Russian,
but also that they are committed to the country and the cul­ture.
"Many companies are now asking executives we recruit
to sign a two or three-year contract," says Johnson.
4 THUNDERBIRD 50 11 1 1996
Russian managers are also being offered more training by
Western companies. Young promising Russian managers are
being brought to the U.S. to train-at schools like Thunder­bird-
and then return home at the end of their training.
"These Russians citizens are going to be prime candidates
for our clients," adds Johnson. Johnson says she knows of at
least one Russian student at Thunderbird who fits this profile.
One area where Western managers are in demand in Russia
is the banking industry. "More and more Westerners are being
recruited for Russian banks that want to compete at the
global level," notes Johnson.
Many investment banks are also gearing up for entry into
Russia. "Now that the securities market is being put into
place," says Johnson, "a number of investment firms will be
moving into Russia." And that means new opportunities for
T'birds.
-Johnson is based in Washington, D. C.
provide opportunities for many kinds of
businesses. Absent the situation becom­ing
one that rolls back foreign invest­ment
levels or substantially diminishes
the ability of Russians to increase their
standard of living, forward progress is
inevitable.
A word of caution, however, for
T'birds looking to become part of
Russia's forward progress: A good trial
run of a few weeks to see if life here
suits you might not be a bad idea
(BeJore attending Thunderbird, Bob
Courtney practiced international cor­porate
law. He moved to Russia in
1993 as president oj the American
Medical Center.)
Michael Krafft '92 * Media Man
'LAWS ARE OFTEN
CONTRADICTORY'
Miclw.el Krafft '92 is vice president oj
business development in Russia Jor
Metromedia International Inc., the
conglomerate owned by billionaire
John Kluge and one oj the leading
investors in communications licenses
in the Jormer Soviet Union. Krafft is
responsible Jor acquiring aU the firm s
ad-based media in Russia, which
means TV and radio.
Sensitivity to the local culture in
Russia is a very important part of
success here. You can't just export your
views from the West. Consider the fol­lowing
two personal experiences.
My job is to acquire or build new
radio and TV stations in Russia for
Metromedia (mostly radio because
radio costs about $10 million less than
TV). One of our initial strategies was to
build a media network based in Mos­cow,
then re-broadcast the signal across
EXPANDING INTO RUSSIA
Avoid crowded Moscow,
says Thunderbird professor
Companies looking to expand busi­ness
into Russia might do well to
skip Moscow and head for other cities.
That's the advice from John Mathis,
professor of international finance
and banking and project director of
Thunderbird's American Business
Centers IABCs] in Russia.
"The Moscow market is getting
crowded. More than 350 large American
firms and many more foreign multina­tionals
are already consolidating opera­tions
there," says Mathis.
His advice to small and medium
firms? Check out other major markets.
"There are five other cities in Russia
with population exceeding one million,"
says Mathis. "And there are opportuni­ties
in all of them to set up businesses."
One of the best bets, he says, is
Nizhny Novgorod (pop. 1.4 million)
where Thunderbird runs an American
Business Center.
Formerly known as Gorky, the city
served as the center of Russia's mili­tary/
industrial complex under the old
Soviet regime and was home to the
country's best scientists and engineers.
Today Nizhny Novgorod is a model of
stable economic reform and privatiza­tion,
located just 250 miles from
Moscow.
For example, during the last several
years over 850 Russian enterprises have
been privatized in the area. This has
encouraged many major companies
such as U.S. West International, Coca­Cola,
Nike, Hewlett Packard, Levi's and
Reebok to establish operations in
Nizhny Novgorod.
"Nizhny Novgorod provides opportu­nities
for finns of all sizes in aerospace,
automobiles, chemicals, agriculture,
retail goods, and electronics," notes
Mathis, who is a former senior financial
analyst at the
World Bank.
The ABCs in
Nizhny Novgorod
and Volgograd are
a joint project of
Thunderbird and Professor John Mathis
the U.S. Depart-ment
of Commerce, and were created
to assist U.S. corporations in building
operations in Russia
Thunderbird's ABCs provide on-site
business services to give American
firms a competitive advantage, includ­ing
identification of business opportuni­ties,
commercial and regulatory
information, business "matchmaking"
with local firms, market research, and
consulting services.
TRADE MISSIONS
Thunderbird's ABCs are leading sev­eral
important trade missions to Russia
this year. The U.S. Executive Trade
Mission (July 20-August 1) features
arranged meetings between CEOs and
senior executives of major corporations
with high-level Russian government and
business officials.
The Biomedical Trade
~ Mission (June 1-9; Septem­ft
.... ~ ber 19-27) brings together the
U.S. and Russian biomedical
communities to create oppor­tunities
for joint-ventures.
A year-long series of trips
called Journey for Discov­ery:
Russia (June 8-18,
September 15-26, December
27-January 5; May 5-15, 1997) offers
business executives and others inter­ested
in Russian culture the chance to
experience the true Russia. Industry­specific
trade missions and customized­trade
missions are also available
anytime.
TRAVEL TIPS
• Phone directories are difficult to find in
Russia. Obtain all phone numbers you need
before leaving for Russia.
• Traveler'S checks are rarely accepted in Russia.
Depend on major credit cards like VISA, Me,
and AE, plus cash.
• Basic medical goods are not abundant. Bring
your own aspirin, cold medicine, prescription
drugs, bandages, and the like.
THUNDERBIRD 50 I 1 I 1996
Russia by satellite.
But we eventually
chose instead to
build radio net­works
that compete
on the local level,
not the national
level. We figured
out Russians in
Vladivostok don't
want to hear about
what is going in
Moscow.
BOLSHOI: Navigating Russian culture is as
the United States, plant
him here, and expect
him to become effec­tive,
particularly if you
get someone who is 50
or 60 years old and has
never been out of the
U.S. It's quite an adjust­ment,
even for T'birds.
I am also respon­sible
for negotiating
with the communi- much a part of business as law.
An altogether differ­ent
type of hurdle in
Russia is the unstable
political situation. The
upcoming elections will
have a huge impact on
the companies that are
cations ministries to acquire the neces­sary
frequency licenses. Here we
learned that including the ministries
and local tower operators in on the deal
was well worth it, since they essentially
control the towers and transmitters
Metromedia needs to broadcast signals.
"All powers
are equally
concerned
about for­eigners
steal­ing
Russian
assets at a
very low
price."
The number one
rule for Russia?
Don't enter this
market trying to
bring in Western
strategies and
make them work
without localiza­tion.
Of course, life
here would be
simple if that
were the only
rule you had to
worry about. There are lots of difficul­ties
foreigners will encounter in the
Russian market.
The first difficulty is dealing with the
"legal aspects" of structuring a joint
venture. You see, Russian laws are
sometimes contradictory, meaning at
times they can change almost on a
monthly basis. At best Russia's business
laws are consistently inconsistent.
The second major problem is taxa­tion-
not just the level of taxation,
which potentially can be very high for
foreign companies, but the arbitrary
enforcement of it. For example, Metro­media
might acquire one radio station
taxed at 60 percent while another we
acquire is taxed at 120 percent. There is
often neither rhyme nor reason to the
tax rules.
The third major obstacle is general
operating conditions. Living and work­ing
conditions in Russia are tough. It's
very difficult to take an executive from
6 THUNDERBIRD 50 f 1 f 1996
making investments here. Like many
foreign companies, we are still doing
huge deals, but we are not closing any­thing.
We are keeping a lot of outs.
So what will happen in the elections?
Who knows for sure. But keep in mind
that while foreign investment is impor­tant
to the government, from the
Russian standpoint it is not something
that will be allowed to drive their coun­try.
On the surface they want as much
investment as possible, but all the pow­ers
to be are equally concerned about
foreigners stealing Russian assets at a
very low price. My guess is the govern­ment
will likely limit foreign investment
to a reasonable percentage, maybe 6
percent, maybe 9 percent, but not more
than 10 percent.
And what about the Russian people? I
think the Russian people have had a
long tough time, particularly because of
privatization efforts over the last three
or four years. The Russian people didn't
benefit from the sell-off of state indus­tries:
the directors of the companies
did. In many cases the people are worse
off than when they first started.
Inflation has only recently been curbed
from 30 percent a month to around 4
percent. For Russians outside Moscow
and St. Petersburg, living conditions are
still very rough.
For me , a T'bird in Russia, I have
good days and bad days. But my wife
and I live in the center of the city about
three blocks from the Kremlin, near the
theater district, so I have lots to be
thankful for. But it is still very frustrat­ing
when you pick up the phone and try
30 or 40 times and still can't get
through. Maybe the key to success in
Russia is persistence.
(Michael Krafft has lived and worked
in Eastern Europe since 1993.) •
Eastern Europe
Curriculum
T'bird students take advantage
of many courses and programs
to prepare for working in
Eastern Europe.
Courses
• RUSSIA AND THE NEW WORLD
ORDER: Tour of Russia's unique history,
evolving political system, economic
transformation, and societal strengths
and pathologies.
• PRIVATIZATION: In-depth look at the
privatization of state-run enterprises in
debt-burdened nations in Eastern
Europe and Russia
• EAST-WEST TRADE SEMINAR:
Analytical study of the growing trade
linkages between the West and the for­mer
USSR, Eastern Europe and China
• EAST EUROPEAN ECONOMIC SYS­TEMS
AND REFORMS: Concentrated
focus on current political and economic
reform issues facing finns doing busi­ness
in Central and Eastern Europe.
• PENETRATING THE EMERGING
ASIAN MARKETS (China, Indonesia and
the Russian Far East): Examination of
the critical variables in market-entry
from the viewpoint of a foreign
investor.
• RUSSIAN LANGUAGE COURSES
Intensive Russian language programs
and advanced business Russian.
Winterim Programs
• DOING BUSINESS IN EASTERN
EUROPE AND RUSSIA: Concentrated
study of the transition from central to
market planning, Western investment
opportunities, political and commercial
risks and cross-cultural aspects of
doing business in these regions.
• WINTERIM IN RUSSIA: Students
experience firsthand the post-Soviet
political, cultural and business
environment in Russia
Student Organizations
• THUNDERCORPS: Links qualified
students with former Soviet, Central
and Eastern European companies
seeking international management
expertise.
• MBA ENTERPRISE CORPS: Selects
recent graduates from top graduate
business schools and places them with
private enterprises in former socialist
countries. Thunderbird placed the sec­ond-
largest number of students in 1995.
EYES AROUND THE WORLD
'There is no chance of tmning the clock back'
German Ambassador Otto von der Gablentz analyzes
Russia's entry into the modern world
Otto von der Gablentz recently
completed a two-and-a-half
year appointment as the Ger­man
Ambassador to Moscow, and is a
former ambassador to Israel and
Holland as well as a former foreign
and security policy advisor to Helmut
Schmidt. Von der Gablentz visited
Thunderbird in January to co-teach
the Winterim course, "Doing Business
in Eastern Europe and Russia," with
International Studies Professor Andris
Trapans. Here he shares his views on
the rise of a modern Russia.
Q: What barriers do you see obstructing
Russia's entry into the modern world?
Gablentz: As one well-known Russian
economist put it, "Russia's problem is
not that we are not a rich country. We
have all the productive forces which are
needed. Our problem is that 50 percent
of our productive forces are tied down
to unproductive business." The fact is
that much of Russia's productive cycle
is tied to large industrial combines
which cannot survive. But you cannot
get rid of them easily because the life of
a whole city depends on it. The govern­ment
might declare a company bank­rupt,
but it can't declare a city bankrupt!
This structure, which is a result of the
Russian industrial revolution under
communism, has got to change.
Q: How would you describe the status of
Russia's stabilization process?
Gablentz: The stabilization process
shows good results at the moment. The
problem is that this is all tied up with
the political process. The reformers are
blamed for all the social
Q: Many foreign investors are
flocking to the Russian market.
How should they proceed?
Gablentz: The last thing
investors should do in Russia
"I try to concentrate on
what the world can do to
promote change in Russia
and ease their entry into
cially in modem technology.
For example investment
opportunities are enormous
in telephone communica­the
modern world," says tions.
is jump in and out, because von der Gablentz. shown
not only will you lose money here teaching Thunder­as
an investor, but it would
Q: You are German. What
also mean that your invest- bird students during
ment does not help at all the Winterim.
process of opening up Russia. This is
the critical thing to understand, that
anybody doing business in Russia is tak­ing
part in the opening of a closed world
for the first time in 1,000 years.
role will the European Union
play in Russia's entry into the
international marketplace?
Q: What opportunities for investment
are most noteworthy?
Gablentz: Under the Soviet economy
there was a very small service sector,
because socialist doctrine termed ser­vices
unproductive. In the early 1990s
Gablentz: During my time in Russia, I
have put in some effort towards trying
to persuade the Russians to think more
and more of the European Union as the
future way into the modern world.
While America and Europe share
exactly the same aims of making Russia
part of the modern world, the distinc­tion
is Europe lies on the same conti­nent
as Russia. Things like modern
transportation, telecommunications,
and pipelines soon will link the EU
countries and Russia.
hardship which came
with political disorder
and economic reform.
Meanwhile, the govern­ment
knows perfectly
well that unless they con­tinue
with stabilization
policies that impose
strict sacrifices, there will
be high inflation. And
high inflation will lead to
another flight of capital.
Ambassador Gablentz
the service sector grew to about 30
percent of the economy. Now the
official statistics say 53 percent.
This means the whole economy
has a new pillar to build on for sta­bility.
Overall, actual investment in
Russia is very low compared to the
need for investment. Most of
Russia's industrial base is not up to
the standards of the world mar­kets.
Everything will have to be
Q: Are you at all concerned that Russia
will revert back to a Marxist economy?
Gablentz: My bet is the process of
change will not fail. There is no chance
of turning the clock back into a big iso­lated
Russia under an oppressive
regime. Now it is the world's job to
engage ourselves on a permanent basis
in Russia, in order to help soften the
process of change which only the
Russians themselves can undergo. •
and daughter Alexandra renewed, so there is unlimited
Ellison '93 opportunity for investments, espe-
THUNDERBIRD 50 11 1 1996
LEADERS
ChaiIman of the Boards
Snowboard entrepreneur Matt Kaplan '94 has
industry knowledge-and a cool attitude
The thought of sliding down
a ski slope with both feet
strapped to a 12-inch wide
board either strikes fear or fan­tasy
into most adults. For Thun­derbird
entrepreneur Matt
Kaplan '94, it strikes gold.
At 29, Kaplan and his partner
Bart Bacon, a graphics design
professional, have successfully
launched a new line of snow­boards
and are quickly moving
into the international arena.
Kaplan's company, Anvil Snow­boards
of Boulder, Colo.,
recently fmalized contracts for
over 5,000 boards to be distrib­uted
in the U.S. and Japan, and
have secured distributors in
Germany and Chile. They are
also in negotiations with a
Japanese distributor to become
its exclusive manufacturer.
The idea for starting the com­pany
came when Kaplan discov­ered
that a very successful
snowboard company was really
"just a couple of old guys who
knew absolutely nothing about
snowboarding making a million
bucks." He also found that many
of the smaller companies were
being run by young snowboard­ers
primarily in search of the
perfect board. "They have the T'bird Kaplan (right)
snowboarding attitude and the and his partner:
angst that goes with the mar- They're creating a
ket," Kaplan observes, "but grass-roots following
when it comes down to it, it's a
which most retailers buy
their product for the corn­ing
season. So Kaplan set
out to position Anvil for the
next buying season, with
business like anything else."
After thoroughly researching the
industry, Kaplan developed a business
plan which he presented to a venture
capital firm in Idaho. Twice before, Kap­lan's
ideas for projects had been denied
The third time was the charm.
MARKET ENTRY. One of the immediate
challenges Kaplan faced was market
entry. Unfortunately, Anvil's first prod­uct
line wasn't available until after the
February and March trade shows at
8 THUNDERBIRD 50 I 1 I 1996
what he calls a "grass roots
marketing campaign" financed through
Anvil's Japan sales. He blitzed the
Colorado area with brochures, hats and
T-shirts adorned with the Anvil
logo and started building a
network of sales repre­sentatives
and interna­tional
distributors.
Kaplan also developed a
team rider sponsorship program to help
make the Anvil name known. The result
has been Anvil's name in print, on
broadcast clips-and strapped to the
feet of some well-known riders.
Heavily promoting the Anvil name and
product line before it hit the market has
proven a successful strategy. Sales have
soared primarily from name recognition.
"People think that we're a large corpora­tion
and that's good," Kaplan says.
Anvil, however, is anything
but a large corporation.
Currently, Kaplan handles the
day-to-day operations and
deals with international dis­tributors
and clients. Bacon
designs all of the art for the
Anvil boards, brochures and
promotional materials. The
boards are manufactured in
California
National sales are handled by
four representatives through­out
the U.S. who work with
local retailers. "Our reps are
our life blood," notes Kaplan.
"Basically, retailers don't want
to have relationships directly
with the manufacturer."
EXPANSION. Kaplan plans to
promote Anvil's new line of six
boards and bindings at the
1996 trade shows in the U.S.,
Germany and Japan. Kaplan
expects this showing to sky­rocket
Anvil's recognition and
sales.
In fact, the company is
already dreaming of expan­sion.
Recently Joe Lombardo
'94, a classmate of Kaplan's
from Thunderbird, took a
minority investment interest in
the company. "Eventually, our
goal is to manufacture under
our own roof. That will give us total con­trol
of every aspect, " says Kaplan.
The company is also considering
expanding its product line and moving
into the lucrative apparel and acces­sories
market.
Whatever dreams Kaplan has for the
future, his feet are finnly planted in the
entrepreneurial present-and the
lessons he learned at Thunderbird.
"Sure, it's great to have the industry
knowledge and the cool attitude
that goes along with the industry.
But if you're not delivering on
time, then it doesn't matter-cus­tomers
aren't going to corne back to
you."-KristiHoweU '95 •
LEADERS
Taking Saudia
to New Heights
The sky's the limit for Khaled
Ben-Bakr '81 and Saudi Arabian Airlines
ever, Ben-Bakr
is not waiting
for the future to
make changes
in the present.
He has already
Just two years ago Saudi Arabian
Airlines was anything but the dar­ling
of its passengers. The largest
airline in the Middle East had, by its
own admission, slipped from its high
standards. Productivity and efficiency
lapses were impeding profitability, and
customer satisfaction was low.
But in 1994, all that ended. That was
the year in which T'bird Dr. Khaled
Ben-Bakr '81 was appointed director
general by King Fahd Bin Abdul Aziz.
Today under Ben-Bakr's leadership,
Saudia is flying happily into the future.
Performance and efficiency have
improved, and Ben-Bakr has imple­mented
a range of far-reaching measures
designed to make his carrier customer­driven.
"I see this airline being one of the
best in the world," says Ben-Bakr.
instituted a major fleet refurbishment,
including upgrading aircraft interiors,
enhancing ground facilities, and com­pletely
revitalizing inflight meals and ser­vice.
"Customers in Saudi Arabia are
becoming more sophisticated because of
exposure to other airlines," notes Ben­Bakr.
"To succeed, we simply have to
provide outstanding service. "
Playing to win has meant leading the
biggest corporate restructuring process
Saudia has ever experienced, all the
while keeping an eye toward something
that was unthinkable for the govern­ment-
owned carrier a few years ago:
privatization. "There are many impor­tant
words these days in the airline
One cultural quandary Ben-Bakr
faces in modernizing service is meeting
the needs of worldwide customers
while at the same time honoring Saudi
Arabian culture. For example, no alco­hol
can be served on Saudia flights. Ben­Bakr
believes Saudia has struc k a
winning balance with the marketing slo­business,
but there is one
that stands head and shoul­ders
above the rest," states
Ben-Bakr. "That word is prof­i
table."
One of the most important
measures Saudia has imple­mented
to ensure future prof­itability
is the building of a
new fleet. In June of last year,
the government announced
that Saudia would acquire 61
new jets worth $6 billion
from U.S. manufacturers
Boeing and McDonnell Doug­las.
"Spending $6 billion is a
direct reflection of our need
to acquire the best fleet pos­sible
to achieve market aspi­rations,"
says Ben Bakr.
Like a good T'bird, how-
Dr. Khaled Ben-Bakr '81
CURRENT
Director general (CEO) of Saudi
Arabian Airlines; appointed by
King Fahd Bin Abdul Aziz in 1994
EXPERIENCE
Chairman of the Department of
Management and Marketing and
chairman of the MBA Program at
King Fahd University of Petroleum
& Minerals; advisor to major U.S.
company and Saudi government
EDUCATION
MIM from Thunderbird; Ph.D.
in public administration from the
University of Southern California;
B.S. in civil engineering from
King Fahd University
gan, 'No matter
how many drinks
you enjoy on our
flights , you'll
arrive feeling
ready for busi­ness,
rather than ready
to sleep.'
More important than
the physical changes,
however, are the atti­tude
changes Ben-Bakr
has encouraged in
Saudia's nearly 25,000
employees. Improved
working conditions
and facilities , com­bined
with specialized
training, have made the
"Proud to Serve You"
badges that all employ­ees
wear a true barom­eter
of the new service
attitude. This idea of
treating passengers as
"personal guests" is
very important to Dr. Khaled Ben-Bakr
Ben-Bakr. He sees '81: "The doorway to
my career has been
determined by what I
it as the continua­tion
of a long and
honored tradition learned at Thunder­in
Arabian his- bird and King Fahd
tory-and vital to University."
his strategic plan:
"If staff are unhappy they won't smile,
and in their work they must smile, and
more importantly,jeellike smiling."
Saudia's success is also directly
related to Ben-Bakr's policy of staying
in touch with employees and cus­tomers.
He personally visits employees
at work locations, asking about prob­lems
first-hand and encouraging work­ers
to participate in the future of the
airline. The T'bird also reads all letters
addressed to him by passengers. "Pas­senger
views give me a candid evalua­tion
of our service performance,"
admits Ben-Bakr.
Still the '81 Tbird has much to
accomplish. High on his list is dealing
with the commercial realities of compe­tition
abroad, as well as instituting more
competitive fare pricing. Also important
is the new corporate image program
that Saudia will unveil very soon,
including a new logo for the aircraft,
new uniforms, and new colors.
Whatever the reason, Ben-Bakr's
leadership is paying off. On-time perfor­mance
has risen from percentages in
the mid-80s to between 93 and 96 per­cent.
And satisfaction among what Ben­Bakr
calls "guest" class travelers
(economy class), which account for
some 80 percent of total annual passen­ger
revenue, has improved greatly. In
the words of the confident T'bird, "We
are playing to win." •
THUNDERBIRD 50 11 1 1996
FACULTY IDEAS
Do Split Stocks Deserve
a Second Look?
A new study of split stock performance shows
surprising results over the long term
Do you know why some companies
offer stock splits? Don't worry if
you can't answer yes. The con­cept
of split stocks has always been a
puzzling phenomenon, even in the
world of finance.
The basic idea is a stock split
increases the number of shares out­standing
in the market while reducing
the share price. But it doesn't take an
MBA to figure out that 200 shares of $50
stock are worth no more than 100
shares of $100 stock. Yet Wall Street
analysts have shown that share prices
increase an average of 3.4 percent at the
time stock splits are announced.
Where's the hidden value?
Thunderbird accounting professor
Graeme Rankine says he has an expla­nation
not only for why stock splits
occur in the first place, but also why
investors who buy shares of companies
nies of similar size and book-to-market
value by 7.94 percent one year after the
announced split and 12.14 percent after
three years.
Analysts traditionally have suggested
two reasons why a company would split
Which Split Stocks
Fared Best?
• Smaller firms did better than
larger firms.
• Firms with a high book-to-market
ratio outperformed others.
• Bulk of excess returns came
in first year after split.
Source: 'What do Stock Splits Really
Signal." D. Ikenberry. G. Rankine. E. Stice
splitting their stock do relatively well. its shares. The first is called "signaling."
Rankine and his research partners at In effect, managers want to signal to the
Hong Kong University of Science and market that they have positive informa-
Technology and Rice University ana- tion about the company's future perfor-lyzed
1,275 2-for-l splits on the New mance, and want that information
York and American Stock Exchanges reflected in its share price.
from 1975 to 1990. Unlike HOW SPLIT STOCKS The second argu-previous
research that ment is that managers
considered only the share BEAT THE PACK use stock splits to
price reaction at the time TOTAL RETURN ABOVE maintain share prices
of the announcement of a THE MARKET AFTER: within a desired trading
split, their new study range to improve mar-
(which was reported in ketability. Research
both Business Week and shows that 97 percent
Smart Money magazine) of stock splits occur
analyzed the shares per- among companies
formance over the follow- whose shares are trad-ing
three years. ing above the median
What Rankine discov- price for similar compa-ered
was that not only do
share prices go up imme­diately
following a split,
but that gains in share
prices continue for up to
two additional years. In
fact, split stocks outper­formed
stocks of compa-
10 THUNDERBIRD 50 / 1 / 1996
nies.
"There is some merit
to both these indepen­dent
arguments," says
Rankine. "However, the
fact is that it's costly
and risky to do a split
because you drop your
share price. What manager can afford to
do that without good reason?"
Rankine believes it is the combina­tion
of the two that actually explains
the wisdom behind stock splits.
"Basically our findings suggest a man­ager
might be motivated by a desire to
maintain the stock price within a trad­ing
range, but he is also going to bear in
mind what the future prospects for the
firm look like," says Rankine. "No intel­ligent
manager will ignore the future."
Perhaps the most interesting finding
of Rankine's research is the delayed
reaction by the market to the favorable
information implicit in split announce­ments.
"Our data suggest that the mar­ket
doesn't fully understand the good
Graeme Rankine
news and is
delayed in its
reaction. That's
precisely why
you get the
excess returns
for the following
three years."
In teres tingly,
underreaction is
not unique to
stock splits.
Research demon­strates
that simi-lar
patterns exist
for companies
that announce share buy-back programs.
From an investor's perspective, con­cludes
Rankine, the underreaction phe­nomenon
is worth noting. "What our
research looks at is the return after the
split, so it is publicly available data.
Since the research seems to suggest
that there are excess returns involved
with these companies, it has implica­tions
for money making strategies."
But which stocks to choose from?
Rankine's study shows that returns are
highest for firms in two areas: smaller
firms, and firms with a high book-to­market
ratio. The study also suggests
that the great bulk of the excess return
on the stocks value comes in the first
year after the split.
Investments aside, Rankine says that
the most important implication of his
research is the possibility of solving a
long-standing puzzle in the financial
world. "We're saying that with a stock
split you're not just slicing the same pie
finer. We're now saying the size of the
pie actually grows." •
THUNDERBIRD HISTORY
A Giant of a Man
In the School's early years, Dr. William Schurz inspired Thunderbird students like no other
Diplomat, scholar, explorer,
statesman, journalist,
exporter, author, teacher,
practical joker, storyteller, world
traveler, linguist-and all in just
one man, Dr. William Schurz.
He served Thunderbird as Pro­fessor
and Director of Language
and Area Studies from 1946 until
his death in 1962.
In those days, Area Studies
meant Latin America, and Schurz
was the right person at the right
time. The New York Times,
reviewing one of his books,
lauded his "wide and profound
relationship and knowledge of
Latin America. He has met peas­ants
and laborers, entrepreneurs
and professionals, military men,
and government employees ....
Probably he has observed Latin
America from more viewpoints
than any other North American."
Schurz came to Thunderbird
following numerous positions in
Latin America with the U.S. State
Department as well as work with
the Cuban government, Johnson &
Johnson, J. Walter Thompson, and the
New York Herald Tribune. He knew
South America as no one else did.
Yet, of all his careers, he loved teach­ing
best. Hired by the School's founder,
Barton Kyle Yount, Dr. Schurz influ­enced
hundreds of Thunderbird stu­dents
who took his courses on Latin
America. Dean Warner
The students were spellbound. You
really wanted to go to his class. One
thing that really impressed me· about
him," Warner adds, "was that he had
always done in life what he wanted to
do. He had made a career out of his avo­cation."
'57, specialist in pre-Colum-bian
art and now manager
of the Thunderbird Global
Market, says Schurz encour­aged
him to turn his interest
in art into a business. "I
probably would not have
started my own business, if
it hadn't been for him."
Schurz's reputation in the
classroom was renowned.
"When you would go to his
lectures," Warner recalls,
"they weren't your typical
lectures. He would bring in
these personal incidents.
Dr. Eric Beerman '59, preeminent
scholar, author, and historian, credits
EDITOR'S NOTE
Thunderbird is seek·
Ing your memories
in celebration of the
50th anniversary.
If you have special
memories of Dr.
Schurz or any other
faculty member,
please send them
to Nelda Crowell.
Thunderbird Office
of Communication.
15249 N. 59th Ave.,
Glendale, AZ 85302
or e-maIl
croweIlnOt-blrd.edu
or CompuServe
72662,3422.
Dr. Schurz with prompting
him to devote his life to
studying Latin America.
"Schurz was an extraordinary
teacher and always had time
to speak with his students, to
write recommendations, to
help them plan a trip," Beer­man
remembers.
Among the students Schurz
frequently mentioned were
Henry Ferris '55 and John
Thomson '55. Schurz had
often touted the unique fea­ture
of South American geog­raphy
in which a person could
traverse the continent by way
Dr. Schurz (left) once inspired two
Thunderbird students, Henry Ferris
'55 and John Thomson '55, to spend a
year traveling some 7,000 miles by
way of connecting rivers from one
end of South America to the other.
of connecting rivers, and he
hinted that his students should
undertake such a venture.
Inspired by Schurz and armed
with Schurz's contacts, Ferris
and Thomson started at the
mouth of the Orinoco and for a
year paddled and sailed some
7,000 miles through South
America's rivers to Buenos
Aires. Ferris, now retired from
the pharmaceutical business,
describes Schurz as "the most
influential teacher I ever had
anywhere."
Schurz's exams were leg­endary.
Warner recalls a typical
question: "Imagine that you are
going to the opera house in
Buenos Aires, and you come
out and discover that your car
keys are gone. What would you do?"
Bill Johnson '60 vividly remembers
finishing an exam and Schurz telling
him to wait while the others finished.
When all the exams had been collected,
Dr. Schurz made a statement that
Johnson says is still valid 36 years later:
"Remember,)) Schurz said, "borders fre­quented
by trade seldom need soldiers. ))
Following President Yount's sudden
death in 1949, Schurz reluctantly
accepted the Thunderbird presidency.
Just two years later, he found his own
presidential replacement in a former
State Department colleague, Dr. Carl
Sauer, and Schurz happily returned to
the classroom. Students were his first
love and he kept in touch with hundreds
of them and visited them around the
world.
Intellectually, Dr. Schurz was a
giant-a prolific author whose works
remain to this day in libraries around
the world. His basic work was simply
continued next page
THUNDERBIRD 50 / 1 / 1996 11
Schurz, continued
titled, Latin America, A Descriptive
Guide. It was one of nine books and
dozens of articles he wrote, including
an article on his 1925 Amazon expedi­tion
published in National Geographic
Magazine.
Decades later, Schurz's works are still
being celebrated. "In 1992, I attended
the presentation of the translated ver­sion
of Dr. Schurz's The Manila Galleon
at the Casa de America on Cibeles in
Madrid," recalls Beennan. "With the cel­ebration
in Spain of Columbus's voyage,
there [was] much interest in the Pacific,
and one would often see cited this work
of Dr. Schurz."
In many ways, Schurz embodied the
very definition of the Renaissance Man.
"Dr. Schurz was one of the two most
intellectual people I have ever known,"
says Warner. "One of his secretaries
said that when he was writing his
books, he just dictated spontaneously
from his experiences, and then would
come back and fill in a few details. And
he collected all kinds of things. I
remember one day he brought in menus
from all over Latin America, and that
day in his lecture, he would talk about
the foods of Latin America "
Everyone who knew him comments
on how approachable he was. And that
he really listened. Since most of the stu­dents
then were interested in Latin
America, they all took Dr. Schurz's
class, and on the 10th anniversary of the
School, voted him most beloved person­ality
on campus. A 1957 newspaper arti­cle
described him as "the emotional
center and mainspring of the school."
At Schurz's death in 1962, President
Sauer echoed the sentiments of many
alumni about one of Thunderbird's
most beloved teachers: "He spared no
effort to prepare young Americans for
what they would face when they took
up their work in foreign lands, and his
enonnous personal mail from his grad­uates
overseas endlessly repeated the
theme: 'Things are exactly as you told
us they would be.' " •
A scholarship fund has been estab­lished
to honor the memory of Dr.
William Schurz, spurred by a lead gift
from Fred Koppl '52. Checks may be
made payable to the William Schurz
Scholarship Fund addressed to 15249 N.
59th Ave., Glendale, AZ 85302.
12 THUNDERBIRD 50 / 11 1996
THE CURRICULUM
Pleased to Meet You, Mr. President
Students make high-level contacts at Winterim
For the 30 Thunderbird students, it
was a moment to remember for the
rest of their lives: a private meeting
in the presidential palace with the
President of Peru, Alberto Fujimori,
"What was amazing was not just that
we met the President of Peru, "
says Greenland national Bo Kris­tensen,
one of the students who
participated in the unprecen­dented
meeting during Thun­derbird's
Winterim trip to Peru
and Chile this past January. "What
was amazing to me was that
President Ftijimori gave us a pri­vate
audience and let us interview
him directly for an hour and a
half."
The opportunity to discuss
business and political issues with
the president of a country-as
well as corporate CEOs, senior­level
managers and high-ranking
government officials-is what
makes Thunderbird's winter ses­sion
so rewarding to many stu­dents.
Luque. They also made many on-site
visits to experience first-hand how Latin
American companies operate, including
trips to Banco de Credito, Nike de
Chile, Phelps Dodge Mining, and J.
Walter Thompson Advertising.
This year, nearly 700 Thunder­bird
students participated in 32
special courses on and off cam­pus,
including courses in 19
countries across Europe, Latin
America, and Africa.
WINTERIM IN CHILE/PERU. For
the students who traveled to
Chile and Peru, speaking Spanish
ALBERTO FUJIMORI: Students discussed business and politics
with the President of Peru (right) for an hour and a half.
Carlos Neuhaus '74, director of the Master Program in
Finance at the University of lima, and language professor
Wanda lauterborn (left) arranged the meeting.
with President Fujimori was just one
highlight in a series of one-on-one meet­ings
with top officials.
Anthony Interlandi '75, special eco­nomic
counselor to the U.S. Embassy in
Santiago, provided students with an in­depth
economic briefing on the current
Chilean economy. The Thunderbird stu­dents
also had the privilege of a private
session with Dominique Hachette,
one of the famous "Chicago Boys," a
group of Chilean free market advocates
trained under Milton Friedman and
credited with Chile's economic miracle
during the Pinochet years.
In Peru, students were briefed on the
country's stock market by the president
of the Peruvian stock exchange, Jose
Students were guided on the trip by
associate professor of Spanish Wanda
Lauterborn and assistant professor of
International Studies Roy Nelson.
WINTERIM ON WALL STREET. 1996 was
also the inaugural year of Thunderbird's
Winterim on Wall Street program. The
new course brought together a group of
very high-level financial experts in New
York City for a series of intensive teach­ing
sessions with 20 to 25 students.
"We wanted the students to directly
confront the realities and complexities
of international finance," says program
coordinator Professor Robert Howell, a
fonner CFO of Schick, Inc.
One of the primary reasons the new
program proved successful in its first
CAMPUS NEWS
PHOTOS BY
JEFF DODGE,
BO KRISTENSEN.
TIM RODGERS
~ GEORGE
FUGELSANG '63:
Dresdner Bank
chief executive
provided board
room for Wall
Street class
sessions.
T HOYLE C. JONES:
(far right)
Citibank director
of global recruit­ing
was popular
among the
students.
year was because of the close involve­ment
of a number of top Wall Street
executives, including many Thunder­bird
alumni.
Executives who shared their industry
insights with students included George
Fugelsang '63, chief executive North
America of Dresdner Bank AG; Citi­bank's
vice president David H. Roberts
'73 and director of global university
recruiting Hoyle C. Jones; J .P. Mor­gan's
managing director Penelope
Fluger; Revlon's CFO Carl J.
Deddens '81; Citicorp Securities'
vice president Elizabeth A.
Palermo '82; Dillon, Read & Co.'s
president and CEO Franklin
Hobbs; and Philip Morris Compa­nies
chairman and CEO Geoffrey
Bible, who also serves as a Thun­derbird
trustee.
Other companies that sent senior
managers to instruct the students
included Johnson & Johnson,
Chase Chemical, Banker's 'frust,
Salomon Brothers, Goldman
Sachs, American Express, and
Forbes magazine.
The Winterim program was
directed by World Business profes­sors
Robert Grosse, Michael Moffett
and Robert Howell. •
• DOMINIQUE HACHETIE:
Member of famous
"Chicago Boys" responsible
for Chile's economic miracle.
PENELOPE FLUGER:
Managing director
at J.P. Morgan.
T
ELIZABETH A.
PALERMO '82:
Citicorp Securities
vice president.
~
JOSE LUQUE: (left)
Peruvian stock
exchange president
briefed students on
his country's stock
market (pictured
with student
Carolina Costa).
~
CEO SEMINAR: One of the
most popular Winterim
courses on campus is
Professor Paul Johnson's
"CEO Seminar." Among
the many CEOs who
traveled long distances
to teach for a day at
Thunderbird were
WILLIAM H. GRUMBLES,
JR. (left), Chairman of
Turner International, and
CARLOS DiAl (right),
President of Turner Inter­national's
Latin America
operations. "Nothing is
worth compromising your
reputation and integrity in
the Latin American mar­ket,"
Diaz advised the
students when asked
whether offering prefer­ential
deals to cable oper­ators
was a useful
strategy in Latin America.
• DAVID H. ROBERTS
'73: (far right) Citi­bank
vice president
recently provided
funds for developing
a Big Emerging
Markets collection in
Thunderbird's library.
~
ANTHONY
INTERLANDI 75:
(far right) Economic
counselor to the U.S.
Embassy in Santiago
advised students
on Chilean economic
policy.
THUNDERBIRD 50 I 1 I 1996 13
CAMPUS NEWS
David Roberts '73 of Citibank enlightens students during
Winterim on Wall Street
David Roberts '73 Funds
Emerging Markets Collection
A new world of resources for
students and faculty is emerging
in Thunderbird's International
Business Information Centre
(lBIC) , thanks to David H .
Roberts '73 and his wife Sarah.
Roberts, vice president of the
Global Financial Institutions
Group at Citibank, NA in New
York City, has provided $10,000
(plus a match by Citibank)
toward a special library collec­tion
focusing on the world's big
emerging markets.
The IBIC collection will pro­vide
Thunderbird with valuable
Where in the
World are T'birds?
Top 20 Locations
1. United 14. Nether-
States lands
2. Japan 1S. Thailand
3. Germany 16. Singapore
4. England 17. South
5. Mexico Korea
6. France 18. Venezuela
7. Hong Kong 19. Switzer-
8. Spain land
9. Norway 20. China
10. Brazil
11. Canada *Source: 1995-
12. Taiwan 96 Thunder-
13. Belgium bird catalog
14 THUNDERBIRD 50 11 1 1996
information on Poland, Turkey,
China, Indonesia, India, South
Korea, Mexico, Argentina,
Brazil, South Africa and Russia
The main thrust of the new
collection will be on country his­tories,
political essays, cultural
studies and current news from
each region. A special focus will
also be placed on gathering
works by foreign authors which
offer an alternative view to the
U.S. perspective.
The creation of the emerging
markets collection comes at a
timely moment. As world busi­ness
is increasingly focused on
emerging market countries,
Thunderbird faculty and stu­dents
are requiring more
resources to research political,
social and economic trends.
Currently, the Thunderbird
curriculum offers courses
focusing on all of the big emerg­ing
market regions, including
China, Southeast Asia, Eastern
Europe, Russia, the Middle East
and Latin America
In addition to his recent IBIC
donation, Roberts was one of a
group of high-level financial
experts who instructed students
during the School's inaugural
Winterim on Wall Street pro­gram
in January. Roberts also
facilitates the corporate rela­tionship
between Thunderbird
and Citibank.
'86 Grad New Director
of Alumni Relations
Alumni across the globe
should be glad to hear that one
of their own, Joy Crews
Lubeck '86, has been named
Thunderbird's new director of
alumni relations.
"I've always been a T'bird,
and now I'm part of the school,"
says Lubeck. "My goal is to use
this dual citizenship to bring
about awareness and under­standing
on both sides."
As director of alumni rela­tions,
Lubeck's mission will be
to develop and improve the ser­vices
the School offers to the
Thunderbird network, as well as
increase the involvement of
alumni with the School.
"Thunderbird has a lot of
value to offer its alumni, and my
job is to make sure alumni are
getting that value," says Lubeck.
"I also strongly believe that the
more T'birds are directly
involved with Thunderbird, the
better off the entire network
will be."
Lubeck is currently working
closely with the alurrmi associa­tion's
board of directors and the
School's 80-plus alumni chap­ters
around the world to
develop interesting and substan­tive
alurrmi programming.
She is also focusing on speak­ing
p ersonally with as many
alumni as possible: "I can't build
the right programs until I talk to
alumni and get to know their
needs. I see a three-year strate­gic
plan evolving."
Lubeck is former executive
director of the Phoenix Bach
Choir, Arizona's leading profes­sional
chamber choir, where
she directed the organization's
strategic planning, marketing,
ftmdraising, and volunteer coor­dination
from 1989 to 1995.
Lubeck also spent seven years
working in export management,
and has lived in Italy, Spain, and
Austria (For alumni wlw want
to contact her, Lubeck's e-mail
address is lubeckj@t-bird.edu)
Joy (Crews)
Lubeck '86:
"This is an
exciting time
to be part of
Thunderbird's
history."
CAMPUS NEWS
Entering the China Market
Subject of New Course
A new course on investing in
China debuted this spring,
thanks to the help of several
Thunderbird alumni.
Last summer Dr. C. Roe
Goddard, chairman of the Inter­national
Studies Department,
traveled to China and Hong
Kong to conduct interviews with
experts-including several
T'birds-directly involved in
helping finns gain market entry
into China.
Goddard, who was on assign­ment
for Arthur Andersen Con­sulting
in Shanghai, spoke with
more than 45 managers about
the challenges of investing and
managing a business in China,
as well as the Chinese govern­ment's
attempts to manage for­eign
direct investment through
shifting regulatory structures.
As a result of Goddard's
research and the support of
alumni in China, a new course
on "Managing in the Emerging
Markets: China" is being offered
this semester at Thunderbird.
The interdisciplinary course is
being team-taught by Goddard
and World Business professor
John M. Zerio. A second
course called "Competing in the
Emerging Markets" is scheduled
to begin this fall.
T'birds who shared their busi­ness
experiences with Goddard
included John Mansfield 'S4,
director of Sales, Marketing &
Engineering at AlliedSignal Auto­motive
in Shanghai; Sergio
Garcia '7S, regional controller
for China at AlliedSignal China
Inc. in Shanghai, and Michael
Buenning 'S7, managing direc­tor
of Schwing Shanghai Machin­eryCo.
In conducting his research
with many different managers in
China, Goddard observed that
those who came from Thunder­bird
seemed more integrated
into the local community and
generally stayed in China longer.
"I noticed that the Thunderbirds
had a greater degree of adapt­ability
and endurance," he says.
Goddard also participated in a
state-sponsored conference in
Beijing with senior-level Chinese
and foreign managers to discuss
cross-cultural problems in the
management of joint ventures.
Alumni Judge
Students
Two of the special judges at
last December's InterAd compe­tition
were Mary Doan 'SO,
president and CEO of Saatchi
and Saatchi Advertising in San
Francisco, and Kendrea Durr­Smith
'S6, product and sales
manager for Penn Racquet
Sports. Both T'birds helped
select the infamous competi­tion's
winning team for fall '95,
Team Kellogg.
The victorious group of six
students developed a full-scale
marketing and advertising cam­paign
with the theme "Toast It.
Top It. Taste It." for introducing
Kellogg's Rice Crispies Bars and
Eggo Waffles into the United
Kingdom.
At the awards ceremony
Doan gave the students a few
simple tips concerning team
work: "First, show up. Second,
pay attention. Third, tell the
truth without judgment or bias.
Fourth, do not become too
attached to the outcome."
Doan is responsible for super­vising
all Saatchi's accounts,
day-to-day operations, and new
business activities. She is also
the worldwide account director
for Hewlett-Packard. Durr­Smith
is responsible for Penn's
sales, marketing and distribu­tion
throughout the American
continent, and supervises all
export and import activities.
Don't Try This at Home
What people won't do for the love of Thunderbird! Benjamin
Tew, a T'bird student, parachutes back to earth after unfurling
a banner recognizing "50 Years of Global Leadership" at Thun­derbird.
Tew and fellow student Stephen Hernan jumped out of
an airplane as part of a campus-wide 50th anniversary kick-off
this past November. Special anniversary events are being held
all year long, including alumni receptions worldwide and a gala
Homecoming celebration November 1-3 1996. (Note: Tew and
Hernan, both experienced parachutists, landed safely on
the rugby field amid cheers from students and staff.)
MICHAEL MCGOWAN
~ Kendrea Durr-Smith '86
THUNDERBIRD 50 11 1 1996 15
Letters
HONG KONG
The last Thunderbird magazine about
Hong Kong was a most handsome issue­the
layout, the color, the stories are really
first class. You
THUNDERBIRD even managed to
have a picture of
me that isn't a
disaster ("A Pris­oner
of Its Own
Success?," p. 3,
V.49 No.3 1995).
But you also
misquoted me. I
really don't think
I said that "The Chinese theory of what
will happen ... is that Hong Kong will
become the central administrative center
of China" True enough, I've said some
pretty silly things, both in and out of print,
TALK BACK!
Tell us what you
think:
E-mail
mcmillat@t-bird.edu
CompuServe:
74371,15
Fax
(602) 978-6814
Letter
Communication
Office, Thunderbird,
15249 N. 59th Ave ..
Glendale. AZ 85306
but not that! What
I probably said is
that the Chinese
intention is that
Hong Kong will
retain its capitalis­tic
system and will
be China's main
window on the out­side
world.
[Professor) JOHN
FRANKENSTEIN
Hong Kong
CAMPUS NEWS
OLD
THUNDERBIRD
I'm the "old Thun­derbird"
standing
at the console in
front of the class
("From the Thun­derbird
Archives,"
p. 11). I was both a
student for two
years and an
instructor for six
years at AIFr [Thunderbird's former
name) from 1956 until 1962. I re-designed
and built that first complete lab when
I arrived in '56, so your picture heading
"50 Years ago" is a bit off! I was hired by
the University of California in 1964 as a
charter member of its new campus at
Irvine, and only last month finally retired
from teaching there.
CORRECTIONS
RICHARD BARRUTIA '59
Irvine, CA
• Our apologies to Craig Heinze '81 of
Quorum International for misspelling his
last name ("Golden Goose," p.5). Heinze
also correctly reminded us to be careful
when using the word 'allegiance' in a story
about China: "To some, this has an overly
political connotation .. .It was not a word I
used, and yet could appear as a quote at
an inopportune situation in the future. "
• The correct name of Sanjyot
Dunung's ('87) company is D&S
International Enterprises, Inc.
("Doing Business in Malaysia, " p.8).
New Alumni
Directory
Valuable network­*
ing tool available soon,
including CD-ROM version
Thunderbird networking just got easier!
Orders are now being taken for Thun­derbird's
50th Anniversary Alunmi Direc­tory
which will be available at the end of
the year.
The all new directory (the first since
1993) will allow you to look up other
T'birds by last name, by class year, by geo­graphic
locale, and by industry. The new
edition is available in soft or hard-cover
versions, and for the first-time in a CD­ROM
format.
To create this valuable networking tool,
we need your help in including accurate
data. All alumni have been sent a direc­tory
questionnaire. Side one asks you to
confirm or correct biographical data on
file at Thunderbird. Side two asks for
demographic information to assist in
alumni programming and services.
Please return the completed question­naire
form in the envelope provided, even
if not ordering the directory, as any cor­rections
will ensure that you continue to
receive Thunderbird publications and
alumni materials.
If you have not received a questionnaire
yet, please contact the Alumni Relations
office at phone (602) 978-7135 or fax (602)
978-6814. All other inquiries concerning
the new directory should be directed to
Publishing Concepts, Inc. by phone at
1-800-395-4724 or (214) 386-0100.
-------- -- --------------------------
CompuServe Fax to (602) 978-8238
Check one: 0 Business D Home
Or mail to Office of Communication,
Thunderbird Campus, 15249 N. 59th
Avenue, Glendale, AZ 85306-6007
Nrune' _______________________________________________________ __
Adfu~S: _____________________________________ ~~~--~---------
City·______________________________ State, ________ Postal code ________ __
Country___________________ Phone'_______________ Fax. _____________ __
ID Nwnber· ___________________ Class year ____________ __
CompuServe Non-members: Sign-up and Payment .
Sign me up for the Thunderbird Forum. Membership includes a CompuServe software kit, first month
free CompuServe membership ($9.95 value) plus $15 usage-credit
D I have enclosed a check for $18 (US), payable to "Thunderbird"
D Charge $18 (US) for the above services to my D Visa D MasterCard
Card No. ___________________________________ Exp. Date' _______________ _
&gnanrre' ____________________________________________________ __
16 THUNDERBIRD 50 11 1 1996
Please send me a kit for (specify one):
Type D DOS D Mac 0 Windows
Disk Size D 3.5" 0 5.25"
Current CompuServe
Members Sign-up
D I'm already a CompuServe member.
Please sign me up for the Thunderbird Forum.
My CompuServe ID number is:
CAMPUS NEWS
Tips for Traversing the Thunderbird Forum
2,200 T'birds in 45 countries now part of Forum! • by Mary Mitchell'95
The Thunderbird Forum (GO
TBIRD on CompuServe) now
has more than 2,200 members in
45 countries, all 50 states and
every class year from the mid-
1950s onward. As the forum
grows in membership, it is also
expanding in scope. Here are
time-saving tips for new and
long-time members alike.
• Job search in cyberspace.
To find recent openings posted
by alumni, select the Messages
pulldown menu, then Browse,
and choose Positions Available.
You can read job bulletins from
the Career Services Center by
selecting Libraries, then
Browse, and Jobs-Pre '93
Alums, or Jobs-New Grads.
• Reconnect with a favorite
professor. More professors are
becoming active in the Thunder­bird
Forum. You can also use
CompuServeMail to reach pro­fessors
on the faculty e-mail sys­tem.
To address a CompuServe
Mail message to a professor on
campus, type INTERNET: fol­lowed
by the professor's Thun­derbird
e-mail code (first seven
letters of the last name followed
by the first initial) and @t­bird.
edu (i.e. INTERNET: zerioj
@t-bird.edu).
• Track down messages. Did
you know messages stay in the
Thunderbird Forum for at least
a month? To reread a message
from last week, select the
Messages menu and the Set
Date option. Type in an earlier
date. Then, select Browse again
and click on the section where
your message was located to
find it on the list.
• Learn who's who. Want to
find other T'birds to contact?
Search the forum member direc­tory
by selecting the Special
menu, then Search Membership.
Type a person's first or last
name in the Name blank or a
specific term in the Interest
blank (i.e. China).
• Update your vitals. Keep
your own member information
updated so other users can find
you! Select the Special menu
and then Change Member Entry
to view and modify your profile.
Include your class year, current
location, profession, company
and special interests.
• Retrieve a megalist of
members. To obtain an alpha­beticallisting
of all forum mem­bers
and their User ID numbers,
select Libraries, then the Alumni
section, and then the latest
Membership List file. Since the
file is long, select to Retrieve it
to your disk.
• Speed up online access. If
you are using the latest Win­dows
CompuServe Information
"1 got my present
job as manager of
international sales
and marketing
through a posting
in the
Thunderbird
Forum!"
Laurent C. G. Reinhardt,
'94, Jamestown, N. Y
Manager (version 2.0.1) and do
not plan to access the World
Wide Web during a particular
session, then select the Special
menu and then Session Settings.
Click on the Winsock option
box to remove the "X" (turn off)
and speed up your CompuServe
access.
• Make file uploads easy.
For easier uploads, try reducing
your copy width and saving
your word processing file onto
the A: drive as "text-only with
line breaks." For help with con­tributing
or "uploading" your
r esume, select the Library
menu, then Browse, and the
CISlInternet Tips section. Look
for the file "HTO Series: How to
Convert and Upload."
• Check your charges. Type
[GO] BILLING to check your
charges at any point. Remember
that the monthly $9.95 Compu­Serve
membership fee includes
five free hours of access to most
of CompuServe. Additional time
is billed at $2.95 per hour.
• Get hands-on help. For
questions specific to the Thun­derbird
Forum, post a message
within the forum to SYSOP (sys­tems
operator). Also, watch for
announcements of the monthly
"Newcomers' Conference." •
F our new interactive
sections are set to debut
in March and April!
These sections will change
on a monthly or bi­monthly
basis, allc)wiing
members
worldwide to
participate in
conference-type
discussions via
the message
board.
One of these
New
in the
T'bird
Forum
. .. " '"
Reunion, in which mem­bers
from specific decades
can reunite through the
message board. The first
Decade Reunion is for
those who graduated
between 1947-69 to meet
during March and April.
Other new sections
include Doing Business
in .... , featuring a differ­ent
country each
month; Hot Topic, dis­cussing
a different cur­rent
event each month;
and Guest of the Month
(a person who fields
questions in an area of
expertise).
New files are now
available in the forum's
library sections:
• Thunderbird Campus
section includes a list of
new faculty and admin­istration,
a description
of new courses, and the
latest Thunderbird fact
sheet.
• European Reunion and
Alumni Travel program are
now available in the Alum
Events/People section
(new section!).
• American Business
Centers in Russia informa­tion
is now in the Trade!
CustomslExIm (new sec­tion!)
and Travel sections.
• Other new sections!
include CISlIntemet Tips,
High-tech Industry and
NonprofitsiOrganiz.
THUNDERBIRD 50 / 1 / 1996 17
A Worldwide Thank You!
Thunderbird Thanks Our Corporate
and Foundation Sponsors.
Thunderbird gratefully recog­nizes
the valuable support the
following corporations and
foundations provided the School
during the 1994-95 fiscal year:
A.G. Edwards & Sons
Abbott Laboratories
Alexander & Baldwin
Allergan Inc.
America West Airlines
American Countertrade
Association
American Express
Association for Corporate Growth
Awkwright Boston
Aztar Corporation
Bank of America
Bank One Arizona
Baskin-Robbins
Bucyrus-Erie Corporation
Cargill Inc.
Chiquita Brands International
ClGNA Worldwide
Citibank NA
Coca-Cola Foundation
Continental Grain
Corel Corporation
Datatel Inc.
Earl Beth Foundation
EDS Corporation
Exxon Corporation
First Interstate Bank
The Flinn Foundation
FMC Corporation
18 THUNDERBIRD 50 11 1 1996
Ford Motor Company
G.D. Searle & Company
General Electric
General Motors Corporation
The German Marshall Fund
Gillette Company
The Globe Foundation
Goldman Sachs & Company
Goodyear TIre & Rubber
Hoechst Celanese
IBM Corporation
Intel Corporation
International Law Institute
Johnson & Higgins
Johnson & Johnson
Kellogg Company
Kraft General Foods
Kurta Corporation
Lockheed Martin
MCI International Inc.
Merck & Company
Merrill Lynch & Company
Monsanto
Motorola Corporation
NBD Bank N.A.
Nierling Foundation
Nordson Corporation
National Association of Women
Business Owners
PADCO Inc.
Parfums et Beaute
Phelps Dodge
Philip Morris
Philip Morris K.K.
Price Waterhouse
Procter & Gamble
RJR Nabisco
Samuel Goldwyn Company
Sanford Bernstein & Company
Scott Paper Company
Seagate Technology
Stein Foundation
Steiner Foundation
Stuart Foundation
Tektronics Inc.
Teledyne Industries
Tenneco Inc.
United Technologies
The Upjohn Company
Western Atlas Inc.
Zenith Electronics
For information about becoming
a corporate sponsor of
Thunderbird, contact the
Development Office at
602-978-7137.
During 1994-95, Thunderbird strengthened its focus on busi­ness,
government and non-profit enterprises as its primary cus­tomer.
The most visible outgrowth of this focus was a new mission
statement approved by the Thunderbird Board of Trustees in April,
1995. The statement of goals that supported the mission statement
emphasized the degree program, the Thunderbird network, services
to organizations, global understanding, and organizational linkages.
1994 9S
Annual
,Report
Major activities during the year included • Opening celebration of
the new Merle A. Hinrichs International Business Information
Centre, Development of enhanced technology and campus Internet
access, • Revision of the World Business curriculum, • Expansion
of business and educational value of Asian and European reunions,
• Start of construction on a new dormitory, • Strong growth of
the executive education program, and • Fund-raising efforts that
reached nearly $20 million since the campaign start.
20
\l",OER8/
"",~~o !;-.• l
THUNDERBIRD TECHNOLOGY COMES OF AGE
A course in Global Information and Technology Management and a 5000-level course in
Advanced Topics in Strategic Information Management were offered. The computer skills
course was phased out as a requirement and no longer receives graduate credit. Starting in
the fall, 1995, all students were required to have a computer . • Hardware and software
upgrades were implemented across campus. Full Internet access was made available, and
e-mail access was provided for student. The Thunderbird Community converted to the
Microsoft Office software, and training was provided in Windows, Word, Excel, and
PowerPoint .• Access to the CD-ROM collection in the IBIC was offered from the net­work,
and IBIC equipment was upgraded. NEXIS and ERIC are two new online services
made available in the IBle. • Thunderbird's first satellite course was offered to students
at ITESM (Instituto Tecnologico de Estudios Superiores de Monterrey). The course, taught
by Dr. David Braaten and Dr. Karen Walch, was on International Negotiations. Dr. Bert
Valencia coordinated the program with technical assistance from Dr. Al Pratt in the
Information Technology Services department.
CAMPUS TAKES ON A NEW LOOK
A grand opening celebration was held for the Merle
Hinrichs International Business Information Centre (IBIC)
on September 30, 1994 featuring technology demonstra­tions,
a multimedia presentation, flag parade, and fire­works
. • liB" dormitory was demolished, and construction
of a new dormitory began in spring, 1995. The campus
swimming pool and the surrounding quadrangle were
remodeled and landscaped. • Classrooms 26-29 in the
Snell Learning Center were remodeled into case-style lec­ture
halls with a multi-level semi-circular arrangement of
chairs and desk-style tables. Each room seats 44 students.
WORLD BUSINESS DEPARTMENT CHANGES OFFER FLEXIBILITY
The World Business Department divided the foundation economics and accounting
courses into two half-semester modules. Some students who have already taken a basic
accounting course might only need the financial and external reporting module. In eco­nomics
a student might need to take only the macro or micro part of economics, depend­ing
on their undergraduate coursework. • The World Business Department also modified
its requirements: All students must now take four specific 3-hour courses: International
Finance and Trade (IF&T), International Marketing Management, Multinational Business
Management, and Advanced Managerial Finance. Three of those courses (all except IF&T)
had previously been grouped together allowing students to choose two of the three. All
students must also take Managerial Decision-Making and Accounting Information, a half­semester
course. • Approximately 20 percent of the language faculty have developed
multimedia applications for teaching.
?'1'U' 'J/I//I',,<v""
OPGLO~~ -------------------------------------------------------------------------
NEW SENIOR V.P. LEADS ACADEMIC AFFAIRS
Dr. Melvyn Copen was named Senior Vice President for Academic Affairs. Dr. Copen holds
a DBA from Harvard University, an SB in Business and Engineering and an SM in
Industrial Management from M.I.T. He has served as Vice President for Academic Affairs at
Babson University, Rector of INCAE in Costa Rica, and most recently, Dean of the
International University of Japan, a Dartmouth-affiliated program. He has worked in
India, Europe, and Africa with various international agencies, including USAID, the Peace
Corps, and UNESCO.
ACADEMIC DEPARTMENTS GAIN EXTERNAL VISIBILITY
The Academy of International Business (AlB), Western Region, met on the Thunderbird
Campus in May, 1995. Keynote speaker was Craig Barrett, Chief Operating Officer of
Intel Corp. • The Center for Authoring and Publishing opened to provide professional
support to Thunderbird faculty for color presentations, document processing, and
graphics support. • The Faculty Development in International Business (FDIB) pro­grams
were held during Winterim and attracted faculty from other universities. The pro­gram
is designed to help faculty members who teach courses in international business.
Other FDIB programs were developed with the University of Puerto Rico and the
University of Colorado. • Thunderbird published its premier edition The Journal of
International Management in February, 1995 under the editorship of Dr. David Ricks. The
new journal is published by John Wiley & Sons, which also publishes The International
Executive, a bi-monthly journal edited by Dr. Beverly Springer. • The Thunderbird
Institute for International Policy presented a conference in April, 1995, on "Economic
Relations in a World of Transition," which attracted several major policy-making offi­cials
of the European Union including Stuart Eizenstat, U.S. Ambassador to the E.U .•
Students at the Archamps Campus visited the Embassy in Paris and heard from U.S.
Ambassador to France Pamela Harriman. They also visited the United Nations and GAIT
Thunderbird Fund 1994-95
TOTAl.: $3.144,994
ALUMNI
$315,068
OTHER
$153.365
MATCHING
$68.060
CORPORATIONS
$566,929
headquarters as well as a number of
companies in Europe, including
Nestle and Salomon, a sporting goods
manufacturer.
CAPITAL CAMPAIGN
NEARS $20 MILLION
The Thunderbird Capital Campaign
reached a grand total of $19,549,355
since its inception in 1994. The total
includes $14.4 million in cash
received and $5 .1 million pledged.
During 1994-95, contributions totaled
$3,144,944, reflecting a substantial
increase in government grants. {;~l <;1' ~~"'~
-------------------------------------------------------------------------- ~ ~y 0" GLO~""
21
22
\)t-\DERll/
Alumni donations totaled $315,068 from 2,568 individuals .• Class projects emerged as
major fund-raising activities. The classes of 1978 and 1979 exceeded their $150,000
pledge for the Media Room in the IBIC. The Class of 1983 has pledged $50,000 for a
Study Room in the IBIC. The Class of 1966 and 1986 have both pledged gifts for the IBIC.
The class of 1960 has extended its Pavilion and Mall project to include a garden and
fountain on the IBIC grounds.
EXECUTIVE EDUCATION SOARS
INTO PROMINENCE
A 13-week Leadership Certificate program
was developed by the Executive Education
Department to allow managers to broaden
their skills and understanding of global
business management. • The fourth class
in the Executive MIM program began study
in the fall of 1994, and in August, the sec­ond
class graduated. • The Thunderbird
Executive Education program was ranked
fifth in a survey of customized executive business education programs by Bricker's
International Directory • The Thunderbird Language Center was started in the summer
of 1994 to offer courses in English to students who wish to improve their language skills
in preparation for graduate study. The 1995 summer program enrolled 8 students from
Japan, Thailand, and Saudi Arabia.
THUNDERBIRD STRENGTHENS PRESENCE OFF CAMPUS
A decision was made to move the annual Thunderbird Balloon Classic from the
Glendale MuniCipal Airport to WestWorld in Scottsdale for the 1995 event .•
Thunderbird was ranked second in the nation (ranked first in March, 1996) for interna­tional
business by u.s. News and World Report. It was also ranked among the top 40
business schools in the nation by Business Week. • American Business Centers in
Russia formally opened for business in April, 1995, offering services that help American
companies form joint business ventures and sell their products in the Newly
Independent States (NIS). The centers were developed in Nizhny Novgorod and
Volgograd, Russia under two grants of $1 million each from the U.S. Dept. of
Commerce. In June, Thunderbird led a trade mission to Russia under the auspices of
the ABCs .• Interfest attracted nearly 1,500 elementary school children to the campus
during two presentations, one in September, 1994 and one in March, 1995. • The
National SOCiety of Editorial Writers held a day-long forum on the Thunderbird
Campus as part of its annual conference held in Phoenix.
f;-§ <;'1' ~~<v$ ~ ~~ ------------------------------------------------------------------------- 0" GLOY,~\.
THUNDERBIRD
ENHANCES ALUMNI
EDUCATIONAL
PROGRAMS
Continuing education semi­nars
were held by alumni chap­ters
in Dallas and San Diego as
part of a major thrust to pro­vide
alumni with information­al
programming. A half-day
educational seminar for alumni was held in Japan on "Japan's Information-Based Society
and Business Opportunities Within." • Nearly 300 Thunderbird alumni gathered in
Mainz, Germany for the annual alumni European reunion. Prominent speakers partici­pated
in a forum on "Global Trends Affecting European Business." • A student/alumni
mentor program matched interested students with alumni who have corresponding
interests. • The Thunderbird Forum on CompuServe received the Smithsonian Medal
and several awards from the International Association of Business Communicators and
the Council for the Advancement and Support of Education. The Forum currently has
over 2,000 members.
STUDENT ACTIVITIES ENHANCE
CAMPUS LIFE
An interactive kiosk was developed by
the Multimedia Center staff to provide
information about Thunderbird to cam­pus
visitors and new students. • The
Entrepreneurs Club sponsored a success­ful
Entrepreneurs Forum in April, 1995.
The student Toastmasters Club was
ranked number one among small Toast­masters
Clubs in the U.S. • Thunder­bird
was invited to become a member of
1994-95 Enrollment
FALL
TOTAL ENROLLMENT 1477
FEMALE 537
PERCENT OF TOTAL 36%
FOREIGN STUDENTS 451
PERCENT OF TOTAL 30%
U.S. UNDERGRADUATE INSTITUTIONS
REPRESENTED
FOREIGN INSTITUTIONS REPRESENTED
SPRING SUMMER
1383 976
521 358
37% 37%
402 295
20% 30%
509
246
the Graduate Management Admission Council, allowing for expanded recruitment
opportunities overseas. • A series of seminars for students focused on building skills
that are outside of the traditional classroom offerings. Topics included case analysis,
team-building, presentations skills, business communication, and company analysis.
CAREER SERVICES SWINGS UP WITH THE ECONOMY
The employment market in 1994-95 continued to improve as solid North American
economy was reinforced by expanding markets in Asia and Latin America. Aggressive
marketing of Thunderbird to employers, particularly in targeted cities throughout the
world, combined with the improved economy to expand employment opportunities \)t<DEIl8/
,,~-I'o !;--) ~1' ~~~$
----------------------------------------------------------------------------- ~ ~~ of: GLO\\P-'-
23
24
U~DE1l81
for graduates. • On-campus recruiting: 271
employers visited campus to interview stu­dents
in 1994-95, up 8 percent from the pre­vious
year. • Off-campus recruiting: 50
employers participated in two off-campus
interviewing events, repeating the previous
year's results. • Job listings: 1,326 listings
were posted in the Graduate Update, the job
listing bulletin for recent graduates. This was
an 82 percent increase from the previous
year. • Internships: In 1994-95, 153 intern­ships
were sponsored, 65 percent of which
were in marketing, including brand/product
management, market research, and trade.
Another 22 percent were in finance such as
financial analysis, auditing and treasury. •
Career Management: Efforts to improve student career management skills continued
with the implementation of a new Career Management module for first semester stu­dents.
This coincided with the development of PRISM, the Thunderbird Electronic
Resume Database. • Salaries: The average accepted salary reported by graduates was
$46,496 up 9 percent from the prior year. The best predictor of starting salary was the
amount of full-time work experience prior to attending Thunderbird. • Initial assign­ments
for students after graduation were closely linked with a student's country of ori­gin,
and 82 percent of those students actively seeking positions during their last semes­ter
at Thunderbird reported at least one job offer within 90 days of graduation.
FINANCES
For 1994-95, revenue exceeded
expenditures by $3,348,204, of
which $2,500,000 was transferred
to plant replacement, debt retire­ment,
and student aid, leaving an
excess of revenue over expenses
and transfer of $848,204. Total
assets as of June 30, 1995 were
$60,942,929, an increase of 21.5
percent.
Gross Revenue
IN MILLIONS OF DOLLARS
"0
<0
10
!;.~ ~1' ~~<t,.$ ~ ~~ ---------------------------------------------------------------------------- 0" GLOll,"v
e develop high-potential individuals to serve the
advanced management needs of international enterprises.
GOALS: • To offer graduate management degree and
non-degree programs distinguished by their global busi­ness,
cross-cultural, ethical, and multilingual compo­nents.
• To involve and support a global network of
Mis s ion,
Statement
alumni and friends .• To serve international business,
government, and non-profit organizations through fac­ulty
research and consulting, student internships, and
technological facilitation. • To foster global under­standing
by seeking a domestically and international
diverse faculty and student body .• To maintain close
linkages with leading enterprises so that (a) the curricu­lum
remains responsive to their needs, and (b) the
placement process meets student and international
enterprise objectives.
25
26
GLOBAL ADVISORY
COUNCIL
Klaus E. Agthe
North American Liaison
VIAG
Gabe E. Aguirre
Chief Executive Officer
Aguirre Group
James Albo
Executive Vice President
Bank of America
Wayne Anderson
Walter Atkinson '76
Executive Vice President
Oregon International Airfreight
Frederick F. Avery
President and Chief Executive
Officer
Avery Abbey Ltd.
R. Jerry Baker, C.P.M.
Executive Vice President
National Association Of
Purchasing Management, Inc.
Dennis Belcher
Executive Vice President
The Bank of Nova Scotia
Marvin B. Berenblum
Partner/Director
Heidrick & Struggles
Dorothy Bigg
Assistant Deputy Commerce
Director
Trade and Finance Group
Arizona Department of
Commerce
Seth D. Blumenfeld
President
MCI International, Inc.
Stephen R. Bova
President
Global Financial Division
Alltelinformation Services, Inc.
Carol Brookins
Chairman and Chief Executive
Officer
World Perspectives, Inc.
William R. Brown '67
President
Latin American Operations
Carrier Corporation
Adil A. Bushnak
Consultant
Adil A. Bushnak Consulting
Leon Chester
Vice President
International Operations
NCH Corporation
Charles A. Clogston
Vice President, Sector Controller
Administrative Division
Cargill Inc.
Hugh K. Coble
Vice Chairman
Fluor Corporation
Dwight Coffin
Vice President
Human Resources
Continental Grain Company
Patrick Connolly
Executive Vice President
Dresdner Bank, AG
MichaelJ. Cosgrove
Executive Vice President
Finance and Administration
General Electric Investment
Corporation
Ross F. Crawford
President
Ruska Instrument Corporation
Vincent S. Daniels '74
President
Certified Training and
Consulting, Inc.
Dieter Diehn
Senior Vice President and Chief
Financial Officer
Siemens Stromberg-Carlson
Robert A. Dilworth '60
Vice President and Managing
Director Europe
USG Europe, Ltd.
C. Michael Dower '82
Senior Business Development
Manager
Atlantic Global Business Center
CIGNA International
Jeffrey Duxbury
Manager, Corporate
Development, Mergers and
Acquisitions
AT&T Globallnforrnation
Solutions
Mel Engle
President and Chief Executive
Officer
u.S. Medical Products, Inc.
R. Timothy Epps
Vice President, People Systems
Saturn Corporation
Diana B. Fahey
Vice President and Director
International Human Resources
Arthur D. Little International, Inc.
Gene Famula
Director of International
Operations
American International Group,
Inc.
John FIasco '75
President and Managing Director
Southeast Region
Bankers Trust Company of
Florida, N.A.
Aldo Fozzatti, Ph.D.
Vice President and General
Manager
European Operations
Delco-Remy International
TheodoreJ. Fuller '72
Director
Johnson & Higgins
Donald Gee '77
Vice President, International
First Interstate Bank of Arizona
Miles R. Greer '75
Executive Director
Corporate Development
Sara Lee Corporation
Thomas O. Harbison
President
Communications Industry Group
Electronic Data Systems
James c. Harding
Vice President
Human Resources
Uncle Ben's, Inc.
R. Sam Hawkins
Vice President
International Business Operations
Industrial Automation and
Controls
Honeywell, Inc.
Peter A. Henggeler
Senior Manager
Estate and Tax Planning
Bank Leu
Jack A. Henry
Managing Partner
Arthur Andersen & Company
Michael J. Hickey
Vice President
Human Resources
Nabisco International
Aleana Hiles '78
Senior Vice President
Bank of America Illinois
Anne Hill
Director, International Human
Resources Planning and
Development
Baxter Worldtrade
Kai Hoshi
President
Canon Trading USA, Inc.
Carolyn C. Huey '82
Principal
Korn/Ferry International
Gilbert Jimenez
Senior Vice President and
Manager
International Banking, Southwest
Region .
First Interstate Bank of Arizona,
N.A.
Henry Kay
Senior Vice President
Marketing
Allergan Limited
Allyn W. Keiser '73
Executive Vice President
Canadian Imperial Bank of
Commerce
Fuad E. Khadder
Executive Director and Regional
Treasurer
American Express Bank, Ltd.
William Kimmins
Treasurer
Anheuser-Busch Companies, Inc.
George M. King, Jr. '62
Corporate Vice President and
General Manager
Latin American Region
Eastman Kodak Company
Monika H. Kroener, Ph.D.
Managing Partner
Crown Management
D. Larry Kroh '69
Vice President, Human Resources
Latin America/Caribbean
American Express Travel Related
Services
Fernando Leal
Senior Vice President and
President
ASia/Pacific Pharma Market
Region
Pharmacia & Upjohn, Inc.
Tony LeDinh
Vice President, International
Landis & Gyr Powers, Inc.
Thomas W. Lehmer
Chief Executive Officer
Interbrands, Inc.
Robert Londono '69
President and Chief Operating
Officer
International Finance Bank
Michael Longua
Director
International Recruiting and
Personnel Development
Johnson & Johnson
Clint]. Magnussen
Private Investor
Richard Mallery
Attorney
Snell & Wilmer
Juan Martinez, Jr.
Director
Latin American Marketing
HAS Corporation
Jack Massimino '74
President and Chief Executive
Officer
Talbert Medical Management
Corporation
VincentJ. Masucci '71
Senior Executive
West Coast Operations
American International
Companies
Chris]. Matlon '66
Senior Advisor
Sunchi Capital Corporation
James A. McClung, Ph.D.
Corporate Vice President
FMC Corporation
Jon McGarity
Vice Chairman
Pharmaceutical Marketing
Services, Inc. (PMSn
Allen T. Mcinnes
Chairman and Chief Executive
Officer
Chase Packaging Corporation
DonaldJ. Mclane '74
President
Pacific South Division
Nordson Corporation
Clayton E. McManaway, Jr. '59
Chairman, Global Advisory Council
Vice President, International
The Fairfax Group, Ltd.
Richard G. Meise
President and Chief Executive
Officer
Microtest, Inc.
Ruben Mendez '78
President
EEB, Inc.
McDiarmid R. Messenger '72
Senior Vice President and
Manager
Standard Chartered Trading
Company
James F. Mooney
Director, Financial Strategy and
Operations
IBM North America
IBM Corporation
Darin Narayana
Executive Vice President
Norwest Bank Minnesota, N.A.
Dennis]. O'Brien
Chief Economist
Caltex Petroleum Corporation
Robert E. O'Connell
President
Edelman Associates
George O'Keeffe '77
Vice President and Managing
Principal
Worldwide Information Services
Unisys (Asia) Limited
Robert G. O'Malley
President
Microage Data Services
James H. O'Neal
President and Chief Executive
Officer
European Operations
Pepsico Foods International
Limited
Christopher Pawlowicz
Human Resources Director
Latin America
Monsanto Company
Daniel Prescott
President
The Prescott Company
Nick Renna '72
Vice President
Finance and Administration
SOURCE, Inc.
Bernard G. Rethore
President and Chief Executive
Officer
BW /lP international, Inc.
Stephen Rizley '93
General Manager
Cox Communications
David H. Roberts '73
Vice President
Global Financial Institutions
Group
Citibank, N.A.
Robert W. Ross
President
Turner international, Inc.
Jean-Claude Saada
Chairman and Chief Executive
Officer
Cambridge Holdings, Inc.
Harwood Shepard, Jr.
Dennis A. Sokol '74
Chairman and Chief Executive
Officer
Hospital Corporation
International Holdings
Peter j. Solomon, Ph.D.
Managing Director
international Resources
Consultants Pty. Ltd.
Scott M. Spangler
President
First Phoenix Capital, Inc.
Allan H. Stefl
Senior Vice President
Nestle USA, Inc.
John Stuart '66
Senior Vice PreSident, Marketing
Rural/Metro Corporation
j. Taft Symonds
Chairman of the Board
Maurice Pincoffs Company, Inc.
Cecil B. Thompson
Executive Vice Presidnet, COO,
Director
Orion International Energy
Corporation
Peter Thomson
Director General
The Chartered Institute of
Purchasing & Supply
Paul Tillman '86
Vice President, Marketing
Convenience Foods Division
Kellogg Company
Holly H. Vene
Senior Director
International Operations
Searle
Martin S. Vogt
Director
International Personnel
Alcon international
RogerW. Wallace
Director General
Investamex
P. Newton White '65
Senior Vice President
Away-From-Home
Scott Paper Company
C. H. Yahn,Jr. '62
President
Ajay Leisure Products, Inc.
James Young
Assistant to the Chairman
Electronic Data Systems
EMERITUS MEMBERS
Michael Boyatt '60
Vice President and Director,
Retired
Esso inter-America, inc.
John C. Cooper '61
Managing Director
Merrill Lynch Bank and Trust
Noe Kenig
International Business
Development
William Schoppenhorst
Consultant to the President
Circuit Components, Inc.
BOARD OF TRUSTEES
Chairman John E. Berndt
Barbara Barrett
International Business and
Aviation Law
Paradise Valley, Arizona
John E. Berndt
President,
New Business Development
AT&T
Basking Ridge, New Jersey
Geoffrey C. Bible
Chairman and Chief Executive
Officer
Philip Morris Companies, Inc.
New York, New York
Wahib Said Binzagr, C.B.E.
Chairman
Beit Binzagr Companies
Jeddah, Saudi Arabia
David A. Brooks
Executive Vice President
Market Development
Visa U.S.A.
San Frandsco, California
Richard]. Callahan
Executive Vice President, Retired
US West, Inc.
London, England
Edward M. Carson
Chairman and Chief Executive
Officer, Retired
First Interstate Bancorp
Los Angeles, California
Tore Diskerud
Chairman
Desert Troon Companies
Scottsdale, Arizona
Jack E. Donnelly /60
President
Bailey & Donnelly Associates
Phoenix, Arizona
Cyrus F. Freidheirn, Jr.
Vice Chairman
Booz-Allen & Hamilton, Inc.
Chicago, Illinois
Ann M. Fudge
President
Maxwell House Coffee Company
Executive Vice President
Kraft General Foods, Inc.
White Plains, New York
William F. Gillis
President, Parent Care
Scottsdale, Arizona
Ronald L. Goode
Corporate Senior VP and
President, ASia/Pacific
Searle International
Chicago, Illinois
William H. Grumbles, Jr.
Chairman
Turner International Inc.
Atlanta, Georgia
Gary K. Herberger
President
Herberger Enterprises, Inc.
Scottsdale, Arizona
Roy A. Herberger, Jr.
President
American Graduate School of
International Management
Glendale, Arizona
Merle A. Hinrichs /65
Chairman
The Asian Sources Media Group
Aberdeen, Hong Kong
Richard J. Lehmann
President
Banc One Corporation
Columbus, Ohio
David K. P. Li, C.B.E.
Director and Chief Executive
The Bank of East Asia, Limited
Hong Kong
David C. Lincoln
President
Arizona Oxides, Inc.
Phoenix, Arizona
Ernesto Martens
Chairman of the Board
Aerovias de Mexico, S.A. de C.V.
Col. Cuauhtemoc, Mexico, D.F.
James A. McClung
Vice President, International
FMC Corporation
Chicago, Illinois
Allen T. McInnes
Chairman
Chase Packaging Corporation
Portland, Oregon
Clayton E. McManaway,]r. '59
(GAC Ex Officio)
Vice President, International
Operations
The Fairfax Group, Ltd.
Greenville, South Carolina
Clarke A. Nelson
Chairman
Landmark Genetics, Inc.
Jackson, Wyoming
E. V. O'Malley, Jr.
Chairman of the Board, Retired
The O'Malley Companies
Phoenix, Arizona
Paul F. Oreffice
Chairman of the Board, Retired
Dow Chemical Company
Fort Lauderdale, Florida
L. Roy Papp
President,
L. Roy Papp and Associates
Phoenix, Arizona
James G. Parkel
IBM Director, Retired
Corporate Support Programs
IBM Corp.
New Fairfield, Connecticut
Bernard G. Rethore
President and Chief Executive
Officer
BW lIP international, Inc.
Long Beach, California
Michael E. Rossi
Vice Chairman
Bank of America
San Francisco, California
J. Kenneth Seward /57
Senior Vice President, Retired
Johnson & Higgins
Paradise Valley, Arizona
Richard Snell
Chairman, President and Chief
Executive Officer
Pinnacle West Capital
Corporation
Phoenix, Arizona
Donald L. Staheli
Chairman and Chief Executive
Officer
Continental Grain Company
New York, New York
Charles M. Stockholm /56
Managing Director
Trust Company of the West
San Francisco, California
William C. Turner
Chairman
Argyle Atlantic Corporation
Phoenix, Arizona
H. Gene Wick /60
(TAA Ex-Officio)
Vice President of Operations,
Retired
R.]. Reynolds Tobacco Int/l, Inc.
Redmond, Washington
27
28
1994-95 HOllor Roll of DOllors
KACHINA CLUB
Alumni alfd friends who
donated S5,OOO and up
Mr. John E. Berndt
Geoffrey C.and Sara C.
Bible
Mr. Wahib Said Binzagr
Mr. John F. Burlingame
Mr. John G. Cullen '68
Mr. Berger Erickson
(Deceased)
Gary K. and Jeanne
Herberger
Mr. Merle A. Hinrichs '65
Mr. Frederick Koppl '52
Joan and David C.
Lincoln
Mr. Gary L. Pacific '72
The Honorable L. Roy Papp
Mr. Richard B. Snell
Mr. Frank L. Snell
(Deceased)
Mr. Charles M. Stockholm
'56
Mr. William C. Turner
EXECUTIVE
CLUB
Alumni alfd friends who
donated $2,500-$4,999
Mr. Lamar Briggs
Mr. W.L. Lyons Brown Jr.
'60
Ms. Patricia A. Burns Boyd
77
MI. Herman Chanen
Mr. James G. Coatsworth
11'47
Mr. John Cotton
Mr. Jack E. Donnelly '60
Mrs. Eleanor M. Fry
Mr. RichaId L. Gilbert '77
Mr. Thomas D. Hobson III
79
Mr. MaIk Holley '91
Mr. Joseph M. KJein '47
Mr. Mark McDowell
Mr. G. Jeff Mennen '65
Mr. Richard E. Ragsdale '67
Mr. J. Phillip Samper '61
Mr. Mike A. Santellanes
Sr. '60
Mr. William Stanley
Schrom '81
Mr. J. Kenneth Seward '57
Ms. Brenda D. Sexton '80
Mr. James P. Simmons
Mr. Fred M. Smoot '66
Mr. L. Eugenia Stringer 75
Mr. Diego j. Veitia '66
Mrs. Mavis Voris
Dr. William Voris
Mr. Jeffrey Whitney '93
Mr. H. Gene Wick '60
NOTES
M indicates partiCipa­tion
in the Corporate
Matching Gift program
* indicates membership
in a gift club
Boldface indicates a
consecutive donor
who made a
contribution in 1993-
94 and In 1994-95.
AMBASSADOR
CLUB
Alumni and friends who
donated $1,000-$2,499
Mr. Frederick F. Avery
Mr. Brian Bates
Mr. James Matthew Bogin
'85
Mr. John Bouma
Mr. Michael L. Boyatt '60
Mr. Stephen C. Burrell '69
Mr. David D. Carpita '67
Mr. Johannes I. Costa 71
Mr. Clifton B. Cox
Mr. Robert A. Dilworth
'60
Mr. Joaquim M. DuarteJr.
Mr. Paul S. Fitch '86
Ms. Leigh Ann Fry
Mr. George N. Fugelsang
'63
Mr. Theodore J. Fuller 72
Mr. Jonathan R. Giddings
'66
Mr. George E. Grady '57
Mr. Michael H. Gross '66
Ms. Kimberly L. Guilbert
'92
Ms. Geraldine Gurley
Lamonica '70
Mrs. Tracy K. Hastings '48
Dr. Roy A. Herberger Jr.
Mr. R. Bruce Hughes '49
Mr. Darrell D. Johnson
'81
Mr. Farnham J. Johnson
'50
Mr. Nobuyuki Kondo '83
Mr. Robertj. Lambrix '63
Mr. Steven John Landuyt
'89
Mr. George R. Lindahl Jr.
'54
Ms. Amy Susan Lyndon
'88
Mr. Richard Mallery
Mr. Barry j. Mason '58
Mr. James A. McClung
Mr. John R. McDermottJr.
'81
Ms. Marianne Mcilvain
Spalding '79
Mr. Andrew W. Milner '81
Mr. Earl M. Morgan '56
Ms. Yvette B. Morrill '83
Mrs. lrenemae Mosford
Ms. ElizabethJ. Nelson '78
Mr. Issa Peters
Mr. Douglas Lee Red '81
Mr. William H. Ryan '55
Ms. Michele Marie Samuels
'84
Mr. Steven Savoldelli '80
Mr. Alban W. Schuele '70
Mr. James c. Schwartz '70
Mr. Joel A. Stead '85
Mr. Thomas F. Surrency '62
Mr. Christopher Francis
Swanson '84
Mr. Paul Robert Tillman
'86
Mr. James Alan Weybret
'79
Mr. Bruce Gregory Wilcox
'SO
Mr. Roger L. Wittlin 78
Mr. Jesse D. Young '81
THUNDERBIRD
CLUB
Alumni and friends who
dOlfated $500-$999
Mr. Frederick William
Adams '81
Ms. Nancy Carol Adams
'81
Ms. Gallian Dean Bagley
Jr. '74
Mr. Eric Gordon Bing '94
Ms.}. Bridget Blake
Rodgers '89
Mr. Christopher L. Boone
'92
Mr. William R. Brown '67
Ms. Fallon Browning
Vaughn '84
MI. Peter D. Burgess '60
Ms. Ann Marie Bumiston
'91
Mr. Edward John Chidiac
'82
Mr. john C. Cooper '61
Mr. Robert W. Courtney
'88
Mr. Richard G. Croft '60
Mr. Edward H. Danse '77
Mr. Jeffrey D. Davis '71
Mr. Michael T. Dillon '78
Ms. Kathy J. Dorman '93
Mr. Don Thomas Dorris '88
Mr.jarulv G. Egeland '55
Mr. Vladimir Egger '75
Mr. Richard H. Elliston '64
Mr. Mark A. Emkes '76
Ms. Barbara M. Eyre Gillen
'62
Mr. Bashar T. Farouki '74
Mr. James R. Fink '92
Mr. William]. Fitzgerald
'62
Mr. Robert M. Franko '79
Ms. Melanie A. Franko '80
Mr. Stephen W. Graeber
73
Mr. Gerald H. Greene '66
Mr. John R. Grundstad '74
Mr. Alejandro A. Gutierrez
'83
Mr. Edward N. Harriman,
jr. '59
Mrs. Susan R. Harriman '59
Mr. John S. Hazelton '72
Mr. Darin Edmund
Heisterkamp '89
Mr. Richard A.
Hemmelgarn '75
Mr. Guy Dean
Hengesbaugh '85
Mr. Thomas B. Hitchcock
'53
Ms. Mary Hitchcock '53
Mr. Jerry L. Holmes '60
Mr. Basil Stephen Holobetz
'84
Mr. David Hu '82
Mr. Alfred P.Jankus '47
Mr. Christopher Paul
Johnson '86
Mr. James Fleming
Johnson '85
Mr. Thomas E. Jones '64
Mrs. Florence V. Jones
Ms. Janet B. Keeler 74
Mr. Allyn W. Keiser 73
Mr. Haakon Korsgaard 74
Mr. J. Richard Krause '69
Mr. Mihoko Kushida '92
Mr. Michael C. Kwee 70
Mr. Bruce L. Lamarche '75
Mr. Richard Lannin '70
Mr. John H. Latham '71 FOUNDERS Mr. John William Citti '81
Ms. Susan D. Libera Knust CLUB Ms. Amy S. Clague
'77 Alum"i and friends who Mrs. Karen j. Clements
Mr. Robert M. Londono dOllated $150--$499 Mr. Don S. Coatsworth
'69 Mrs. Roberta Aidem '56
Mr. Eric Govier Lynge '86 Mrs. Marianne Almquist Mr. Bradley Andrew Cole
Ms. Kathleen MacDonnell Mr. Ronald T. Alonzo '68 '90
'81 Mr. James Evert Anderson Mr. John G. Comfort '68
Mr. Gary j. Martin '77 '80 Mr. Willie W. Cone '79
Mr. James W. McCarter '75 Mr. Alan D. Andrews '78 Ms. Maryanne Conlin '80
Ms. Lynn E. McNeal '75 Mr. Charles Daniel Mr. Jerry Douglas Conner
Mr. Alwin M. Miller '75 Angevine '89 73
Mr. John L. Muncy '70 Ms. Amy Ascher Linde '83 Mr. Roger L.P. Coombs
Ms. Masaaki Nakamoto '68 Mr. S. Robert August '75 '57
Ms. Deborah T. Neilson Mr. W. Kent Barnow '85 Ms. Susan Corcoran Hayes
'75 Ms. Gabriele E. Baron '87 '72
Mr. Michael Nissman '70 Ms. Barbara McConnell Ms. Elisabeth M. Corjet
Ms. Heather Gray Barrett Cole '89
NorcUinger '84 Mr. Jack B. Bartholf '51 Ms. Christine E. Couturier
Mr. Miguel Angel Osorio Mr. Charles H. Bartlett '53 '80
'86 Mr. Joseph K. Bassi '77 Mr. Dan Cracchiolo
Mr. Isao Ozawa '90 Ms. Kristine Baumgart Mr. Randall Wayne Crow
Mr. William H. Parker '65 Grutzner '87 '83
Mr. Edmund O. Piehler Jr. Mr. Randall E. Beaty '73 Mr. john S. Cullison '72
'68 Mr. Glenn A. Beck '56 Mr. Richard Lee Cummings
Mr. Surse Taylor Pierpoint Mr. Clay P. BedfordJr. '57
'84 Mr. Michael F. Bell '75 Mr. Gary Paul Curran '89
Mr. John C. Polhemus '69 Ms. Regina L. Bidstrup Ms. Carol B. Davidson
Ms. Carolyn Polson Mr. Wesley D. Bigler '79 McCrady
O'Malley '70 Ms. Fiona C. Black Jackson Mr. Paul C. Davis '55
Mr. Thomas Spencer Price '83 Ms. Jill Marie DeSanto '90
Jr. '92 Mr. George B. Blake '59 Ms. Anne Dellos
Mr. Theodore J. Mr. Jeffrey A. Bloch '83 LeBoutillier '91
Rectenwald Jr. '78 Mr. Walter C. Boice '64 Mr. John]. Di Fazio '66
Dr. Chase Chonggwang Mr. Michael Karl Bolton '89 Ms. K. Mia Diekemper '78
Rhee 70 Ms. Betty Bool Ms. Ellen Marie Dieringer
Ms. Victoria L. Rickey '75 Mr. James BoothJr. '92 '81
Mr. Michel Henry Mr. W. John Bowen '80 Mr. Jon c. Dietz 78
Rittenberg '75 Mr. Richard D. Boyles '80 Ms. Jane W. Dodson Nims
Mr. John Stephen Rizley Ms. Gail Bradley '75
'93 Mr. John F. Brady '74 Mrs. Kay Driggs
Ms. Jane Robinson Mesure Mr. Christopher Jay Mr. James W. Echle '72
'83 Brand '92 Mr. Daniel M. Edwards '87
Mr. James Arnold Rodgers Mr. Paul laVern Brassard Mr. Murray F. Ehlers '57
'89 '85 Ms. Lynn Elizabeth Elting
Mr. Yoshiaki Sahoda '80 Ms. David Sheldon Brayer '87
Mr. Alexander I. Schwartz '83 Mr. James A. Emslie '77
'80 Ms. Susan L. Breisch Mr. Robert C. English '76
Ms. Angelika Schweibenz Johnson '88 Mr.and Mrs. Arne
Bremer '82 Mr. Richard}. Breit '73 Erickson
Mr. Robert L. Shanks Jr. Mr. Thomas}. Brennan Mr. Knut Eriksen '81
76 '79 Mr. Michael V.
Ms. Margery Short Ms. Rebecca Ann Brewer Evangelisti '82
Mr. Richard W. Stephen '75 '74 Mr. Alfred T. Fagerburg III
Ms. Martha 1. Stewart de Mr. Stephen Ward Brock 73
Leon '87 '86 Ms. Marilyn A. Fairley
Ms. Kathryn Strate Smith Ms. Lindsay C. Brooks '91 Kolesar '77
'81 Ms. Judith Evonne Brown Mr. Peter Feddersen '67
Mr. Ziad M. Sultan '92 '80 Mr. Warren E. Feller '74
Ms. Lynn H. Thornton '84 Mr. Peter D. Browne '77 Mr. William M. Ferry '51
Mr. Roger W. Titley '75 Ms. Tracey A. BrumfieJ Ms. Amy Fitzpatrick O'Neill
Mr. Tom Tracy '59 Nelson '81 '83
Ms. Martha R. Von Mr. James K. Bruton Jr. Mr. Andrew Franklin
Hillebrandt '80 '76 Forbis '89
Mr. John W. Waddell '74 Mr. Charles E. Buchner '71 Mr. William B. Ford '74
Mr. Barry J. Wade '68 Mr. John R. Buckie '92 Ms. Patricia W. Foster '78
Mr. Timothy C. Walker '68 Ms. Jane Buffmire Mr. Douglas H. Foy'88
Mr. Douglas]. Wall Mr. Richard R. Bupp '50 Mr. Geoffrey Joseph
Ms. Marilyn Wall Mr. Jack Butefish '56 Francolini CFA '84
Ms. Anne Webster Mr. Michael L. Butler '78 Mr. Barton A. Francour
Hayden '69 Mr. Donald J. Caldwell '72
Mr. Mark Wilmer '79 Mr. John S. French '75
Mr. Paul A. Winter '76 Mr. Claude Case Ms. Janie French
Mr. Joseph Wollmering Mr. Phillip E. Casey '71 Ms. Catherine E. Fritz '89
'75 Mr. John A. Cecil '80 Ms. Marcia A. Futter '81
Ms. Marianne Patricia Ms. Jacqueline Deborah
Cherney '82 Gans '89
Mrs. Margaret Craig Ms. Paula Kay Garrett '93
Chrisman Mr. Robert B. Garrison '61
Mr. Soren K. Christensen Mr. Donn F. Geisert '84
' 72 Ms. Rachel Geltman Susz
Mr. Vern R. Christensen 79
'80
Mr. Edward Richard Ms. Nicola Alexander Mr. Emmanuel]. Nsien Mr. Lawrence F. Smith '63 PRESIDENT'S Dr. Roy A. Herberger, Jr.
Gentile '79 Klutho '83 '73 Mrs. Alice W. Snell COUNCIL President
Mr. James Allen George '93 Ms. William A. Klutho '83 Mr. Mark E. O'Malley '71 Mr. Robert J. Snyder '66
Mr. Frederick F. Avery
Thunderbird
Mr. Wacyf H. Ghali '74 Ms. Barbara Renee Koch Ms. Suzan O'Neill Mr. Kenneth A. Sperling The American Graduate
Mr. Roland W. Gillis '74 Simmermon '90 Mr. Kevin F. Oakley '80 '69 President School of international
Mr. A. Douglas Gilmore Mr. George D. Krempley Mr. Taizo Ohmura '81 Ms. Shirley A. Spiller '89 Kraft Food Ingredients Management
'70 '77 Mr. Earl T. Oliver '57 Mr. Frederick B. Corp. Glendale, Arizona
Ms. Peggy Ann Gitt '80 Mr. William C. Kristy '72 Mr. Ernfred Michael Olsen Stambaugh '79 Memphis, Tennessee
Mr. Merle A. Hinrichs
Mr. Steven L. Gold '68 Mr. Charles Francis LaFond '81 Mr. Dwight A. Steffen '49 Mr. John E. Berndt Chairman
Mr. David W. Goodrich '80 Ms. Caralie Bea Olsen '73 Mr. Samuel West Stewart PreSident The ASM Group
Ms. Linda A. Grandstaff Mr. AJainJ.P. Labat '80 Mrs. Robin E. Parke '79 New Business Hong Kong
'76 Mrs. Carolyn R. Laflin Ms. Kathryn McClelland Ms. Betsy Stodola Development, AT&T
Ms. Pame.la Grant Mr. John Barton Lamb '86 Parker '83 (Deceased) Mr. Martin E. Susz '79 Basking Ridge, New Mr. Mark Holley
Ms. Linda M. Grapengeter Mr. Peter G. Lambe.rton Mr. Jerome K. Pascoe '65 Dr. Robert S. Tancer Jersey Planning Analyst
'79 '79 Mr. William D. Pharr '79 Dr. Shoshana B. Tancer Mr. Charles M. Brewer
Dana Corporation
Mr. Thomas K. Gray '70 Ms. Nancy L. Laxson Mr. Luis C. Pi-Sunyer '64 Ms. Melissa R. Taylor '81 Attorney
Toledo, Ohio
Mr. Todd Thatcher Highton '81 Mr. Joseph A. Piela '72 Ms. Constance L. Charles M. Brewer, Ltd. Mr. Richard A. Holt
Grimmett '87 Ms. Tamara Lebovitz '86 Mr. Dirk Jan Plas '89 Thatcher '76 Phoenix, Arizona Managing Director
Mr. Jacobus Groot '73 Mr. Robert G. Lees '77 Mr. Charles A. Platt '66 Mr. loannis-John Tialios Scudder Stevens & Clark
Ms. Theresa Gruber Mr. Richard J. Lehmann Ms. Marie Gabrielle Plunier '83 Mr. David A. Brooks Chicago, lIIinois
Tapsoba '85 Ms. Evelyn S. Leonard '86 Mr. Gordon Reed Executive Vice President
Mr. Thomas Lorin Ms. Katherine A. Lewis Ms. Kristanne Pond '80 Toedman Jr. '87 VISA U.S.A. Mr.Joseph M. Klein
Guetzke '86 Sawyer '84 Mr. Timothy Franklin Mr. Richard Lee Tollefson San FranCiSCO, California Chairman, Emeritus
Thunderbird
Ms. Carolyn E. Gutbrod '80 Mr. Ray C. Lopez '55 Poppe.r '88 Jr. '83 Mr. W.L. Lyons Brown,Jr. Mr. William D. Hacker The American Graduate Mr. Phillip M. Lunn '68 Ms. Roberta Poritsky '80 Mr. Ricardo Juan Torres Chairman School of International
Mr. Thomas G. Hackim Ms. Linda Joy Magoon '84 Ms. Lori Beth Pugsley '81 Brown-Forman Management '77 Mrs. Susan A. Makaus Conn '89 Ms. Arlene G. Tostenrud Corporation Glendale, Arizona
Mr. Philip W. Hagenah Mr. D. Jeffrey Manners '78 Mr. Hal Taylor Rabbino Mr. William M. Tucker Jr. Louisville, Kentucky
'70 Mr. Lowell K. Marcus '48 '91 '73 Mr. John F. Burlingame
Mr. David Lincoln
Mr. Christopher Allen Ms. Jeannie Martin Mr. George R. Ramoff '55 Mrs. Cynthia Turner Retired Vice Chairman
President
Hargitt '82 Harbottle '87 Ms. Susan Elizabeth Mr. Norval O. Tyler '64 General ElectriC
Arizona Oxides, Inc.
Mr. James S. Harper '74 Mrs. Doris E. Mason Rathburn '92 Mr. Shigebiro Uchida '61 International
Phoenix, Arizona
Mr. Roger R. Harrison '75 Mr. VincentJ. Masucci '71 Mr. Peter J. Rathwell Mr. Nils A. Urman '77 Darien, Connecticut Mr. Ernesto Martens
Mr. Benson I. Hattem '53 Mrs. Vicky Mathis Mr. John G. Reddan '56 Mr. Tod Mellor Van Name Chairman of the Board
Mr. Thomas). Hedges '75 Mr. Chris J. Matlon '66 Mrs. Vera Reidy '83 Mr. Patricia A. Burns Boyd Aerovias de Mexico, SA
Mr. Virgil E. Heidbrink 'SO Mr. Gary J. Matus '72 Mrs. Adria Renke Mr. George Van Vice President de C. V
Mr. Kenneth J. Heldenfels Ms. Caren Patrice McCabe Mr. Michael F. Richter '88 Wageningen '75 BA Mortgage & Mexico
'91 '81 Mr. Karl E. Ringer '56 Ms. Nancy Vandenburg International Realty
Mr. John D. Henson '48 Mr. Thomas M. McCaffrey Mr. Rodney F. Ritchie '52 Westcott '76 Phoenix, Arizona Mr. G. Jeff Mennen
Mrs. Katherine Herberge.r '76 Mr. Christopher Peter Mr. Theodore Calvin Mr. James G. Coatsworth, II
Managing Partner
Mr. Paul L. Hertenstein Mr. William G. McMullen Ritten '87 VerLee '89 TMF Investments President Florham Park, New Jersey '64 '78 Ms. Barbara V. Rivera '77 Mr. J. Jorge Verduzco '75 Coatsworth Inc.
Mr. Ronald B. Hill '75 Mr. Leonard J. McNally Mr. Bret Rogers '86 Ms. Michele M. Von Houston, Texas Mr. Gregory B. Murphy
Mr. Philip D. Hoffman '58 '86 Mr. Robert F. Rose '73 Rautenkranz '88
Mr. John Cotton
President and Chief
Mr. Thad R. Hogan '60 Mr. Mark Alan Meanwell Mrs. Vada S. Roseberry Ms. Rene A. Von Executive Officer
Ms. Margaret Hornigold '90 Ms. Pamela K. Ryan '79 Rautenkranz '88 Maricopa Partnerships General Foods Bakery
Kettlitz '87 Ms. Alison Menchhofer Mr. Cliff Joseph Samuelsen Mr. William T. Walsh '71 Inc. Companies, Inc.
Mr. Steven L. Horton '78 Johnson '85 '81 Ms. Mary Elizabeth Ward Paradise Valley, Arizona Bay Shore, New York
Ms. Julie Houk Goodrich Mr. Robert W. Menestrina Mr. Christopher P. '84 Mr. Mark DeMichele Mr. Melissa Murphy
'74 '80 Sandvig '76 Mr. Dean Warner '57 Chief Executive Officer Director/Account
Ms. Suzanne L. Huck Mr. Finley N. Middleton II Mr. Jose M.S. Santos '74 Mr. John A. Warner Sr. Arizona Pubic Service Manager
Ms. Carolyn C. Huey '82 '68 Ms. Andrea B. Sargent '82 '48 Company J. Walter Thompson Co.
Mr. Per Huge-Jensen '94 Mr. George L. Miller '79 Mr. James J. Sarrail '92 Mr. B. Clark Warren '56 Phoenix, Arizona New York, New York
Mr. Paul Henry Huibers Ms. Jeannette Lynn Miller Mr. RobertJ. Saum '91 Mr. Clarence L. Wasson Mr. Jack E. Donnelly
'90 '90 Ms. Susan Carla Scheller Jr. '49 President and Partner
The Honorable L. Roy Papp
Mr. Arthur F. Humphrey 1II Ms. Betty B. Miller Arsht '87 Mr. Richard L. Watson 'SO Bailey & Donnelly
L. Roy Papp & ASSOCiates
'79 Ms. Therese Mary Miller Ms. Stephanie Schira Mr. Allan P. Welch '72 Assodates
Phoenix, Arizona
Mr. William C. Khoury '80 Knowlton '85 Mr. Barlow M. Westcott II Phoenix, Arizona Mr. Richard E. Ragsdale
Hutchinson '57 Mr. Alfred F. Miossi '48 Mr. David Lowell Schisla '76 Chairman
Mr. Charles L. Irby '77 Mr. Garry S. Moore '64 '87 Mr. Leon F. Westendorf Mr. Joaquim M. Duarte, Jr. Community Health
Mr. James Warren Jackson Ms. Lisa Moore Brayer '83 Mr. Denis W. Schreiber '59 Professor Systems, Incorporated
111'82 Mr. Robert P. Mosier '72 '79 Mr.JohnJ. Westermann Thunderbird Brentwood, Tennessee
Mr. Daniel T. Jacobsen '59 Mr. Robert B. Moyer '48 Mr. Samuel Schulman '52 '84 The American Graduate
Mr. Kenneth A. Jacuzzi '79 Mr. John P. Moynier '67 Mr. Gerard C. Scott '57 Mr. Robert G. Whelan '78 School of International Mr. Sam Rosenbalm
Mr. James S. Jehovics '77 Mr. Robert J. Murray III Mr. Jeffrey Kent Scott '85 Mr. Donald E. Whisman Management Rickreall, Oregon
Mr. John S. Johnson '63 '75 Mr. Andrew M. Scott '90 '65 Glendale, Arizona Mr. J. Phillip Sam per
Mr. Ted Johnson '54 Mr. Vincent Melchor Mut Ms. Sue Ann Scott Mr. John N. Wilson 'SO Mr. Bert A. Getz President
Ms. Rosalie L. Johnson- '92 Mr. James K. Secunda '76 Mr. Daniel D. Witcher '50 President Sun Microsystems
Fogg '79 Mr. William Benjamin Mr. James B. Sercu '91 Mr. Gary A. Withall '73 The Globe Corporation Incorporated
Mr. Jean-Pierre Celestin Nadel '92 Mr. Harold B. Shaeffer '63 Mr. G. Van Velsor Wolf Jr. Scottsdale, Arizona Mountain View,
Kabanda '92 Mr. Hiroshi Nakata '87 Ms. Glenna Shapiro Mr. Christopher J. Wollak Mr. Richard L. Gilbert
California
Ms. M. Regan Kelley Mr. Samuel A. Neblett '53 Mr. James Townsend '91 President Mr. Mike A. Santellanes, Sr.
Orillac '88 Ms. Elizabeth A. Neidel '91 Shelby '85 Mr. Norman F. Woods '68 International Inventory Chairman and Senior
Ms. Marian L. Kendrick Mr. David R. Nelson '82 Mr. Richard William Mr. Takehiko Yamada '89 Management Partner
Ms. Nicola M. Kettlitz '86 Mr. Thomas Bryan Sherman '85 Mr. Robert Joseph Scottsdale, Arizona Price Waterhouse
Mr. Gilbert R. Khoury '81 Newman '85 Mr. Ronald V. Sigler 'S8 Zimmermann '87 In teramerica
Mr. Terence King '81 Mr. John F. Nielsen '47 Mr. Mark F. Silvennan '80 Mr. Ralph J. Zullo Jr. '77 Mr. Gary K. Herberger San Jose, Costa Rica
Mr. L. William Kirby Jr. Ms. Patricia J Nilan '93 Mr. William B. President
'79 Mr. David A. Nims '7S Simmermon '90 Herberger Enterprises, Mr. J.Kenneth Seward
Mr. Leonard J. Kistner '74 Ms. Nona Patrice Niner Mrs. Patricia Simmons Inc. Retired Senior Vice
Mrs. Jane F. Kloh '81 Mr. Knut Skabo '75 Scottsdale, Arizona President and Director
Mr. Curtiss Klus '61 Ms. Yumiko Nishiyama Mr. Scott B. Slade '88 Johnson & Higgins
Ohmura '81 Mr. Alex Charles Smith '82 Paradise Valley, Arizona
29
Mr. Brenda D. Sexton Mr. Bruce G. Wilcox M CIGNA Foundation M First Bank Duluth Jordan Phosphate M Polaroid Corp.
President, Corporate General Partner M CNA Insurance M First Interstate Bank of Mines Co M Premark Int'llnc.
Services Cumberland Associates M CSXCorp. AZN.A. Jules & Doris Stein M Price Waterhouse
The Galbreath Company New York, New York M Campbell Soup Co. M Fmt Interstate Bank of Foundation Foundation
Chicago, Illinois Ms. Isabel M. Stainow Cargill Inc. CA M KelloggCo M Procter & Gamble
Mr. James P. Simmons Wilcox Cass Marina Inc. M Fmt Interstate Bank of M Kennametal Inc. Foundation
President New York, NY M Caterpillar Americas DenverN.A M KeyCorp M Prudential Foundation
James P. Simmons and Co. M First Union Bank M Knight Ridder Inc. RCA Corp.
Associates
Mr. Daniel D. Witcher M Chase Manhattan Flinn Foundation The Kraft General Foods M RJR Nabisco Foundation
Phoenix, Arizona
Retired Senior Vice BankN.A. M Ford Motor Co Kurta Corp. M Raytheon Company
President and M Chemical Bank M Freeport McMoran M laSalle Nat!. Bank Matching Gifts Program
Mr. Fred M. Smoot Assistant to the President M Chevron USA Inc. M G.D. Searle & Co M Lehman Brothers Red Lion Hotels &
President The Upjohn Company Chiquita Brands, Int'l M General Electric M Lever Brothers Co. Inns
Phoenix Pacific Peoria, Arizona M Chubb Insurance Co. of Foundation Lockheed Mart