FOR THE MONTH OF JANUARY 1999           Campaign Continues to Succeed with Donations by Petro-Canada and Financial Research Foundation of Canada     The fundraising campaign at the Rotman School continues to receive significant support from corporate and individual donors. Petro-Canada has made a gift of $250,000 under the Petro-Canada Young Innovators Award Program to support research by faculty members. The gift, which will be paid on an expendable basis over five years, will provide eligible faculty who have been out of a PhD program from one to eight years, up to $50,000 per year. A maximum of two awards will be made annually. Faculty will be notified when full details of the program are available.  The Financial Research Foundation of Canada had made an outright gift of $127,000 to fund the Harvey Rorke PhD Fellowship, in perpetuity. The gift will be matched by the University of Toronto to create an endowed fund of $254,000.  Mark Sack, executive director of development, tells the Rotman Reader that he expects to announce several major gifts to the School shortly. Look for campaign updates in the next issue of the Rotman Reader              Leading Business Journalist To Speak at Rotman School     Alan Webber, founding editor of Fast Company, one of the world’s hottest business magazines, will speak at the Rotman School on Thursday, Jan. 28. The presentation is the first event in the Winter term for the Unilever Speaker Series, says Greer Hozack, MBA’99. Webber will speak in the Fleck Atrium, beginning at 6:30 pm.  Tickets for the presentation and reception are only $5. Contact Greer_Hozack@embanet.com for ticket information.  In 1993, Webber founded Fast Company, a different kind of business magazine designed to give people the tools they need to succeed in today’s world of work.  The magazine aims to be the handbook of the business revolution. It chronicles the changes under way in how companies create and compete, highlights the new practices shaping how work gets done, and showcases teams who are inventing the future and reinventing business.  Webber founded the magazine after spending six years as the managing editor/editorial director of the Harvard Business Review (HBR). During his tenure at HBR, the highly- acclaimed business magazine was named a three-time finalist for the National Magazine Awards.  Webber went to the Harvard Business School in 1981 to serve as a senior research assistant and project coordinator on the auto industry in America. The project culminated in a book called Changing Alliances. In 1989, Webber was named a U.S./Japan Society Leadership Fellow by the Japan Society of New York, which allowed him to travel to Japan for three months. Before going to the Harvard Business School, Webber served as special assistant to the U.S. Secretary of Transportation in Washington, D.C.  Webber is widely in demand as a speaker and presenter at events and business meetings. He has been a consultant to some of the most innovative and successful companies in the world. His articles and columns have appeared in The New York Times, The Washington Post, the Wall Street Journal, and USA Today. Webber has also appeared on broadcast outlets such as ABC's "Good Morning America, CNNfn and NPR's "The Connection," discussing his theories and others about how companies are adjusting to a new world of business. His book, Going Global, co-authored by Fast Company co-founder Bill Taylor, was published by Viking Penguin, July 1996. The book explores what it takes to be a global company in a new economy.  For more information about Fast Company, check out their website at www.fastcompany.com.              President of Proctor & Gamble Canada Visits Rotman School     Yong Quek, president of Proctor & Gamble Canada, will speak at the Rotman School in the Fleck Atrium on Jan. 25 at 4:00 pm. All staff, faculty and students are invited to attend. Quek’s topic will be “Confessions of a Corporate Guerilla: The Nature of Change in a Corporation.”            Prof. Ramy Elitzur Appointed Director of MBA Program     Ramy Elitzur, associate professor of accounting, has been appointed Director of the MBA Program beginning with the 1999-2000 academic year announced Dean Roger Martin earlier this month.  “Prof. Elitzur is particularly qualified to lead the MBA program at this critical time. As a core faculty member of the program, he has intimate knowledge of our MBA and has shown excellence in teaching,” said Martin. “Based on his strong research record, he will be in an excellent position to help me integrate across the teaching and research agendas of the school.”  As part of his new role, Prof. Elitzur has also been invited by the Dean to join the Decanal Group, which will be restructured for the 1999-2000 academic year.              Wordmark Issues     The process of introducing the new Rotman graphic identity is continuing this month with the arrival of new stationery supplies including letterhead and business cards. Information materials for the Executive MBA Program are expected in February.  During the first week of January, Word for Windows templates of fax cover sheets, memos and letterhead were installed on the H drive of most computers. Versions for Mac and Word Perfect users are currently in development.  Please note that the new stationery must now be used for all internal and external correspondence. Remaining stock of old stationery should be directed to the nearest recycling bin.  There has also been some confusion recently regarding the proper name of the School.  The name, Joseph L. Rotman School of Management, refers both to the physical building and the School of Management.  Please do not refer to the building as the Rotman Centre in your correspondence.  If you have any questions regarding the new graphic identity or please contact Jim Milway, interim assistant dean, marketing and communications, (milway@rotman.utoronto.ca) or Ken McGuffin, media relations officer (mcguffin@rotman.utoronto.ca). Copies of the guidelines for the new graphic identity that were handed out during the information sessions in December are also available.              Career Management Centre Improves Service for MBA Students     In response to concerns raised by part-time MBA students, Karen Theriault, director of the Career Management Centre, has announced new procedures for the Centre to make it’s services more accessible to all students. The Centre will now be open until 6:30 pm on Tuesday and Wednesdays evenings. In addition students can contact the Centre’s staff to set up appointments outside of regular office hours or to arrange for resource materials to be available in the Business Information Centre.  Students are encouraged to use Embanet as frequently as possible to receive updated information regarding on-campus recruiting receptions, job postings and career development sessions.              EMBA Students Visit Europe on Annual Study Tour     The second year Executive MBA class is currently visiting Brussels and Frankfurt on the program’s annual study tour. Participants plan to combine industry visits with meetings with Canadian and European officials including Roy McLaren, Canadian High Commissioner to the United Kingdom and Jean-Pierre Juneau, Canadian Ambassador to the European Union. Industry visits will include a trip to manufacturer Blanco whose CEO is Thomas Wilhelm, Global Executive MBA’98. The group departed Toronto on Jan. 16 and will return on Jan. 27.  Look for a complete report in a future issue of the Rotman Reader..            EMBA and MBA Information Sessions     Both the MBA and Executive MBA Programs are holding Information Sessions at the Rotman School during the next few weeks. The sessions are designed to answer prospective students’ questions regarding the programs. The information sessions for the MBA program scheduled on Jan. 28 is already fully booked. Spaces are still available for the session on Feb. 23. Please contact Desmond Chow at 978-4252 for more information. Last year just under 1,000 applicants applied for the 120 to 130 spaces available in the full-time MBA program.  Sessions for the Executive MBA Program are being held on Feb. 3 at 6:00 pm and Feb. 18 at 6:30 pm. Please call 978-6586 for more information.           EMBA Alumni Dinner Brings Together 14 Years of Alumni     The Executive MBA Program has organized an alumni dinner to be held on Feb.10 at Hart House. It’s an opportunity for alumni to renew old friendships and to be introduced to Dean Roger Martin and his vision for the Rotman School. The University of Toronto introduced one of the first EMBA programs in Canada in 1983.            Institute for International Business Roundtable Discussions Resume in 1999     The first Institute for International Business Roundtable discussion featuring John Hull, professor of finance, was held on Jan. 20. Prof. Hull spoke on  “Risk Management: Recent Trends and Systemic Implications” with Prof. Wendy Dobson as discussant.  The next roundtable discussion with Prof. Assaf Razin from Tel Aviv University will be held on Feb. 12. Prof. Razin is a noted authority on the Israeli economy and is one of the world’s leading macroeconomists. His topic will be “A Debrief on the Israeli Economy.” The event is co-sponsored by the Canada Israel Foundation for Academic Exchanges.  Please note that the start time is 8:00 am.  The roundtable discussions bring together academics and members of the Canadian business community to discuss current business issues. Attendance is by invitation only. For more information, please contact Jennifer Kao at 978-2451.           Upcoming Capital Markets Workshops     Monday, January 25th  10:00-11:30 noon, Room 151  AN EXAMINATION OF THE STATIC AND DYNAMIC ACCURACY OF INTEREST RATE OPTION PRICING MODELS IN THE CAP-FLOOR MARKETS  Anurag Gupta, New York University  Wednesday, January 27th  2:00-3:30 p.m., Room 157  PRIVATE EQUITY FINANCING AND THE EQUITY FLOTATION METHOD CHOICE: THEORY AND EVIDENCE  Oyvind Norli  Norwegian School of Economics & Business Administration and  Amos Tuck School of Business Administration  Friday, January 29th  2:00-3:30 p.m., Room 151  UNCERTAIN GROWTH PROSPECTS, LEARNING, AND ASSET PRICES  Hong Yan, University of California, Berkeley  Monday, February 1st  2:00-3:30 p.m., Room 151  TESTING OPTION PRICING MODELS WITH STOCHASTIC VOLATILITY, RANDOM JUMP AND STOCHASTIC INTEREST RATE - OPEN THE "BLACK BOX"  George Jiang, University of Groningen, The Netherlands    Tuesday, February 2nd  2:00-3:30 p.m., Room 157  ARBITRAGE BOUNDS IN MARKETS WITH NOISY PRICES AND THE PUZZLE OF NEGATIVE OPTION PRICES IMPLICIT BONDS  Ioulia Ioffe, York University  Friday, February 5th  2:00-3:30 p.m., Room 151  INSIDER INFORMATION, ARBITRAGE AND OPTIMAL PORTFOLIO AND CONSUMPTION POLICIES  Marcel Rindisbacher, Universite de Montreal           Faculty News     Jack Mintz, Arthur Andersen Professor of Taxation, was a visiting scholar at the Center for Economic Studies, University of Munich last semester.  He presented three lectures on tax competition and multinational investment and finance and also presented two seminars on Business Tax Reform in Canada at the University of Munich and Dortmund University.  “Germany is in the throes of debate about tax reform and there was keen interest in the Canadian discussions,” reports Prof. Mintz.  Hugh Gunz, associate professor of organizational behaviour, attended the 10th Israel National Human Resource Management Conference in Tel Aviv from December 7-9, 1998.  He presented a paper that he co-authored with Martin Evans, professor of organizational behaviour and Michael Jalland, associate professor of strategic management, on "New strategy -- wrong managers? Career jungle gyms and their implications for strategic change." Prof. Gunz also gave a seminar to a group of doctoral students at Tel Aviv University on a paper co-authored with Prof. Jalland on "Mapping career boundaries,” and presented a third paper co-authored with Profs. Evans and Jalland entitled "Boundaries in a ‘boundaryless’ world” to the department of Labour Relations at Tel Aviv University.  Tom McCurdy, professor of finance, has recently given invited lectures to a wide range of institutes and conferences including the Canadian Applied Mathematics Society, Annual Meetings; INFORMS, World Meetings; North American Summer Meetings of the Econometrics Society; Ivey School of Business, in conjunction with being an external examiner for a PhD; Canadian Economics Association Annual Meetings; and Bank of Canada.  During December Anil Verma, professor of industrial relations, traveled to the Philippines and India. He gave lectures at the Employers Confederation of the Philippines conference on Changing Industrial Relations for Greater Competitiveness and to the Cavite Export Zone Employers Association, Philippines, on The Changing Nature of Work and Its Implications for Learning. He also spoke at the Conference on Industrial Relations: An Agenda for Change, organized by the International Labour Organization in New Delhi, India.              Newsmakers     Prof. Jack Mintz recently gave interviews regarding tax issues to the Globe and Mail, Financial Times of London and Nature magazine.  Andrew Stark, associate professor of strategic management, contributed an opinion editorial on the Quebec election, entitled "Quebec's Timid Nationalism," to the New York Times on December 2. He was also quoted in an article in the Los Angeles Times on December 14 on a proposal to construct a public school inside a gated community in California.  Dan Ondrack, professor of organizational behaviour, was quoted in a Dec. 11 article in the Detroit Free Press on the cultural integration of executives in DaimlerChrysler AG. A weekend meeting in Spain allowed executives from Germany and the United States an opportunity to meet each other after the $40 billion merger of Chrysler Corp. and Daimler-Benz AG.  Prof. Ondrack and Anne Kemp, Executive Program instructor, were featured in a case study on workplace and management issues on the Managing page of the Report on Business on Jan. 19.  Robert Herber, part-time marketing instructor in the MBA program, was interviewed by the Washington Post on the strengths and weaknesses of Canadian Tire and their strategy to defend themselves against Wal-Mart.  On Jan. 5 Joseph Martin, adjunct professor of business strategy, was on CBC Radio's 'This Morning'. He discussed Sir Wilfrid Laurier's famous quote that the 20th century belonged to Canada. This month is the 95th anniversary of the quote. Prof. Martin talked about how Canada has done and he drew heavily on an OECD database of 51 countries economic performance from 1832 to 1994.  In December after Federal Minister of Finance Paul Martin rejected the proposed mergers between the major Canadian banks, Laurence Booth, professor of finance, was interviewed by CBC national radio and eight regional CBC stations. He also made two appearances on CBC Newsworld.  Sandford Borins, professor of strategic management, was interviewed on CBC radio in December regarding the Ontario government’s proposed balanced budget bill.  Gary Latham, Secretary of State Professor of Organizational Effectiveness, was interviewed by the Times of London on what constitutes excellence in executive education. The interview was based on the report,  “Correlates of Executive Education Program Revenue, Repeat Business, and the Satisfaction of Client Organizations and Individual Participants,” published by UNICON.  Prof. Anil Verma was quoted in the Toronto Star on Jan. 13 regarding Bell Canada’s decision to sell its operator services business. He pointed out that Bell has been shedding non-core parts of its operations for years. On the same day he also gave interviews to eight CBC radio affiliates from St. John's to Vancouver to discuss CLC president Bob White's meeting with Finance Minister Paul Martin on ways to spend the $5 billion Employment Insurance surplus.           Staff Changes     Kerri Lehto is the new career officer in the Career Management Centre. She joins the Rotman School after graduating from Laurentian University.  Halyna Sydorenko has joined the Rotman School as secretary for the Marketing and Business Economics areas. She previously worked at the University of Toronto in the Department of Occupational and Physical Therapy.                 .

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