Hoch and Baker, W'56

In November, the Wharton School announced the creation of the Jay H. Baker Retailing Initiative. Funded by a $10-million gift from Patty and Jay H. Baker, W’56, the initiative will expand the School’s curriculum and research activities in retailing, and promote faculty and student interaction with industry experts from around the world.

“We are grateful for the Bakers’ support,” said Dean Patrick T. Harker. “With one of the best marketing faculties in the world, as well as experts in operations management and diverse but related fields, Wharton is uniquely positioned to explore the complex issues that make retailing such a dynamic field. The entrepreneurial spirit of the School parallels that of today’s retailing industry.”

In addition to a new undergraduate and MBA secondary concentration in retailing, the Baker Retailing Initiative involves several interdisciplinary components:

• An endowed faculty chair;

• New courses focusing on retailing and marketing;

• A multiyear, cross-disciplinary retailing research project, directed by Professor Stephen Hoch, John J. Pomerantz Professor of Marketing;

• A lecture series to provide opportunities for leaders in retailing and related industries to share expertise and insights with students and faculty;

• Endowed support for PhD fellowships to encourage future business faculty to study retailing;

• Internships to support undergraduate students as they gain first-hand experience in the retail industry; and

• An endowed fund to support the above-listed activities on a permanent basis.

“I am so excited about bringing together two areas that are deeply meaningful to me — the industry of retailing and the Wharton School,” said Jay Baker. “Our goal is to develop future leaders of the retailing industry by exposing some of the brightest and most talented students to this very vital and dynamic field.”

Jay Baker, who received his undergraduate degree in 1956 from the Wharton School, is a member of the Wharton School Board of Overseers, and a director of Kohl’s Department Stores, Briggs & Stratton Corporation, and the Philharmonic Board of Naples, Florida. He served as president of Kohl’s Department Stores from 1986 to 1999. Patty Baker, who graduated summa cum laude from Hunter College in New York City, holds a degree in theatre and art history. The Bakers have been long-time supporters of the performing arts and New York’s Fashion Institute of Technology, which awarded Jay an honorary doctorate degree.

The Bakers have now given $21 million to the Wharton School and the University of Pennsylvania. In 1999, they gave $11 million to support the construction of an undergraduate center in Wharton’s new facility, Jon M. Huntsman Hall. The Patty and Jay H. Baker Forum is the largest single space in the facility and can accommodate an entire undergraduate class of nearly 500 students. That $11-million gift also endowed The Baker Leadership Scholars Program, providing financial support to undergraduates throughout the University of Pennsylvania. It was among the largest gifts ever made to the University in support of undergraduate financial aid, a critical component in Penn’s overall commitment to undergraduate education.

New Degree for Biotechnology Management

The University of Pennsylvania has announced the creation of a new dual-degree program in business and biotechnology. Students will earn an MBA from the Wharton School and a Master’s of Biotechnology. The Biotechnology Master’s is jointly offered by Penn’s School of Engineering and Applied Sciences and its School of Arts and Sciences.

“Now with Wharton’s participation in our Biotechnology Program, we can serve business managers who seek in-depth biotechnology training. Such training is an increasing need in today’s biotechnology business world in which smart business decisions are often driven by a fundamental grasp of modern molecular biology, from pharmacogenomics to drug discovery,” says Scott L. Diamond, PhD, director of Penn’s Biotechnology Program.

With the collaboration of its three sponsoring schools – Wharton, the School of Engineering, and the School of Arts and Sciences – the University of Pennsylvania’s dual-degree Biotechnology Management Program is uniquely positioned to supply such training. Diamond explains, “Where else can an MBA student look at DNA microarray data in the morning and learn about biotechnology licensing in the afternoon? – only at Penn and particularly at Wharton.”

“With the growing interest in the business applications of biotechnology, this is a critical time to establish this multidisciplinary, dual-degree program,” says Dean Patrick Harker. “Students will get a solid grounding in the core business disciplines to prepare them for leadership in emerging bioscience industries. The program will benefit from the work of Wharton’s William and Phyllis Mack Center for Technological Innovation and our extensive entrepreneurial course offerings.”

Knowledge@Wharton Publishes New Book

A new book from Knowledge@Wharton, the School’s free biweekly online journal that offers the latest business insights and research from a variety of sources, is now available.

Knowledge@Wharton on Building Corporate Value explains how you can integrate the Internet into every aspect of your business as it reveals techniques for using Internet tools to create and manage enduring brands, understanding and managing risks created by the Internet, and pursuing strategic alliances to support your company’s goals. Authors of the book include Operations and Information Management Professor Eric Clemons, Vice Dean of Executive Education Robert E. Mittelstaedt, Knowledge@Wharton Editor Mukul Pandya, and Management Professor Harbir Singh. For more information, visit www.amazon.com/buildingcorporatevalue.

News Briefs

The Financial Times Business Survey ranked Wharton’s MBA for Executives (WEMBA) as number one for the second year. Columbia Business School ranked second and NYU’s Stern School ranked third.

Wharton Research Data Service (WRDS) has been awarded a 2003 CIO Magazine Enterprise Value Award. Now in its eleventh year, the award program is highly selective, honoring a small group of organizations for their IT systems that prove over time their ability to transform companies, industries, and society as a whole.

Siebel Systems, Inc., a provider of multichannel e-business applications software, announced the 2003 recipients of the Siebel Scholars scholarship awards. Winners from Wharton are MBA students Nicholas Benedict, Laura Bennett, Angela Crossman, Douglas Fisher, and Alexander Moskovitz. The Siebel Scholars program was established to recognize outstanding graduate students at the world’s most prestigious business and computer science schools.


The new director of the Wharton Small Business Development Center (WSBDC), M. Therese Flaherty, is already well known to the Wharton community. Flaherty previously was director for Wharton’s MBA Global Consulting Practicum and is an adjunct associate professor of marketing for the School. As WSBDC’s new director, Flaherty will spearhead a re-design of the courses and consulting services offered to the Philadelphia area’s community of business owners and managers.

West Coast WEMBA student Dean Chang, WG’04, was selected to be the inaugural executive MBA journal writer for BusinessWeek Online. Chang is chief technology officer and vice president of technology adoption and partner services of Immersion Corporation in San Jose, CA.

Fred Lipman, a lecturer in the Wharton MBA Program and a partner in the law firm of Blank Rome Comisky and McCauley, LLP, was selected to be the Chair of a National Teleconference on Audit Committees sponsored by The Bureau of National Affairs, Inc., in October.

Lawrence Brown of the Statistics Department received the Wilks Memorial Award from the American Statistical Association in August. The award, given annually since 1964, is based “primarily on contributions to the advancement of scientific or technical knowledge, ingenious application of existing knowledge, or successful activity in the fostering of cooperative scientific efforts that have been directly involved in matters of national defense or public interest.”

Alumni in the News

The Jamaica Observer (10/30/02) reports that MBA student Deika Morrison, ENG’94, W’94, has been appointed a senator and a minister of state for finance and planning in the Jamaican government.

According to Business Wire (10/23/02), Yujiro Hata, WG’01, has been appointed vice president of business development at Enanta Pharmaceuticals, Inc.; and John Sudol, WG’93, has been elected to the National Board of Directors at AeA, a high-tech trade association (10/15/02).

Lawrence Lessig, C’83, W’83, was featured in an article in Newsweek (10/14/02). He is scheduled to make his first appearance before the U.S. Supreme Court to argue a case regarding the length of copyrights for books, films, and music.

According to PR Newswire (10/08/02), Isaac Palmer, WG’93, has been promoted to senior vice president of corporate development at Viacom Entertainment Group.

Business Wire (10/07/02) reports that Annette Franqui, W’84, has been appointed chief financial officer of Panamerican Beverages, Inc., one of the three largest bottlers of Coca Cola products in the world.

Gary M. Phillips, C’87, WG’91, M’92, RES’97, has been appointed corporate vice president at Bausch & Lomb, Global Pharmaceutical and Vitreoretinal products, as noted in Business Wire (10/07/02).

Risa Lavizzo-Mourey, WG’86, was featured in an article in The New York Times (10/06/02) entitled “In Person – Treating Health Care.”

Tim Connolly, W’59, CEO of corporate strategies at Merchant Bankers, is co-hosting the nationally syndicated business talk radio program, “Not for Widows and Orphans,” according to CCN Matthews (10/03/02).

The Star-Ledger, Newark, NJ (9/24/02) featured Risa Lavizzo-Mourey, WG’86, for her appointment as president and chief executive of the Robert Wood Johnson Foundation.

W. George Greig, WG’78, was profiled in The Financial Post (9/21/02) for his management of the William Blair International Growth Fund and GBC International Growth Fund.

Fortune (9/16/02) named Elon Musk, W’94, one of “America’s 40 Richest Under 40.” Musk (No. 23) was highlighted as one of the “particularly interesting newcomers” to the list as the founder of PayPal.

The Wall Street Journal (9/16/02) noted Ted Chung, W’99, in an article about Calvin Broadus (Snoop Dogg) for his work handling Broadus’ music label business. (Also in The Wall Street Journal Europe, 9/16/02, and The Asian Wall Street Journal, 9/17/02).

The Saint Paul Pioneer Press (9/15/02) profiled Jay Fishman, W’74, WG’74, regarding his first year as the chief executive of The St. Paul Companies. The article noted Fishman and his wife’s support of the Wharton School.

CNNfn (9/11/02) interviewed Robert Stovall, W’48, a global strategist at Clemente Asset Management, about the impact of September 11 on how investors think about the market.

Barron’s (9/9/02) featured Eileen Rominger, WG’86, in an article about her work as a Goldman Sachs fund manager who traveled cross country this past summer scouting for attractive stocks.

Recent Alumni Publications

The Silent Takeover: Global Capitalism and the Death of Democracy

By Noreena Hertz, WG’91
The Free Press (2001)

“Dr. Hertz has taken the debate into new territory. . . . She offers a more intriguing analysis of modern corporate methods than critics normally supply.” –The Evening Standard

Flip the Switch: Discover the Weight Loss Solution and the Secret To Getting Started

By Jim Karas, W’83
Harmony Books (2002)

“The author of the number-one New York Times bestseller The Business Plan for the Body now gives dieters who’ve tried everything the most essential key to success: the ability to ‘flip the switch’ and turn their weight-loss desire into a  reality.” –Publisher

Business Expectations: Are You Using Technology To Its Fullest?

By Bryan Bergeron and Jeffrey Blander, W’93
John Wiley & Sons (2002)

“In the wake of the New Economy hype, Business Expectations provides a cogent analysis of the practical challenges involved in managing technology ventures.” –Mary Tripsas, Professor, Harvard Business School

Biodiversity and Human Rights: The International Rules for the Protection of Biodiversity

By Elli Louka, WG’99
Transnational Publishers (2002)

“The author of this study proposes a fundamental review of biodiversity protection policies. Instead of conservation/preservation, a shift to attention to ecosystem management with human rights and human dignity at the center is recommended. . . .Practitioners and scholars concerned with environmental issues, human rights, and sustainable development problems will find this work of great interest.” –Publisher

Ruminations on College Life

By Aaron Karo, W’01
Simon & Schuster (2002)

“Taken from Karo’s popular website, aaronkaro.com, Ruminations perfectly captures the college experience of a fun-loving student.” –Booklist

Mean Spirits

By Roger Chiocchi, WG’78
iUniverse (2002)

“Energetic and quickly paced, Mean Spirits proves to be a fascinating and haunting narrative that cleverly follows the legacy of a single American family.” –Ghostsource.com