CBE students hit the ground running

COLLEGE OF BUSINESS AND ECONOMICS
• TOWSON UNIVERSITY • FALL 2007
CBE
students
hit the
ground
running
CBE Advisory Board Welcomes New Members 3 ♦ Taking AACSB to the Classroom 7 ♦ CBE on a Mission 8
College of Business and Economics Towson University • FALL 2007
Carrie Oleynik
Managing Editor
Jan Nelson Lucas
Editor
Pat Dideriksen
Designer
Kanji Takeno
Desirée Stover
P–ers
Elizabeth Albright ’03
Mary Beth Ardolino ’06
Shannon Arehart
Contributors
Blair Kelly
Illustrator
Business Dialog is published twice
a year by the College of Business
and Economics. Please send
comments and contributions to
Business Dialog, College of
Business and Economics,
Towson University, 8000 York Road
Towson, MD 21252-0001.
e-mail: coleynik@towson.edu
410-704-3342
Please send address changes to
Alumni Relations, Towson University
8000 York Road
Towson, MD 21252-0001.
Robert L. Caret
President
James P. Clements
Acting Provost and Vice President
for Academic Affairs and
Vice President, Division of Economic
and Community Outreach
Shohreh Kaynama
Dean
College of Business and Economics
Louise Laurence
Associate Dean
College of Business and Economics
www.towson.edu/cbe
Towson University’s policies, programs and
activities comply with federal and state laws
and University System of Maryland regulations
prohibiting discrimination on the basis of race,
color, religion, age, national origin, sex,
disability and sexual orientation.
DP0807.081
2
Message From the Dean
Feature
4
Putting the KSAs to the Test
In the College
3
New Business
9
Spotlight
12
Alumni and Friends
14 CBE Advisory Boards
16 Donor Report
Message From the Dean
I
was pleased to learn that business administration was the most popular choice for the
78 percent of incoming freshmen who had declared a major before beginning classes
in August. This fall the College of Business and Economics welcomed 800
new students, which expands our enrollment to 3,216. This represents an increase of 164
students over our fall 2006 enrollment.
But it is the quality of CBE programs that matters most. As you know, we strive
continuously to maintain and enhance that quality and take great pride in our AACSB
International accreditation.
CBE is making great progress in preparing for the visit by the AACSB International review
peer team in February. It has been a pleasure to reflect upon all that we have accomplished
in the past five years. I’d like to share some of our achievements insofar as they align with
the three AACSB standards: Assurance of Learning, Strategic Management, and the Participants Standard.
In reaching the benchmarks outlined in the AACSB Assurance of Learning Standard, CBE has increased
offerings by expanding the number of programs as a result of successful curricula management. Since 2003
we have established a concentration in entrepreneurship, an MBA program and a graduate degree in
accounting and business advisory services in partnership with the University of Baltimore, an
undergraduate degree program with Quality Leadership University in Panama, and an undergraduate
degree program with the University of DaNang in Vietnam.
To attain AACSB’s Strategic Management Standard, CBE expanded its facilities through financial strategies.
Examples include:
Five Years Ago
Classrooms: 13
Computer Classrooms and Labs: 2
Faculty, Staff and Support Service Offices: 86
Student Study Lounge and Organization Space: 0
Total state budget for CBE: $6.9 million per year
Today
Classrooms: 19
Computer Classrooms and Labs: 4
Faculty, Staff and Support Service Offices: 111
Student Study Lounge and Organization Space: 3
Total state budget for CBE: $9.4 million per year
CBE addressed the guidelines outlined in the Participants Standard by strengthening its position as a
premier college of applied business learning. Take a look at the following:
Five Years Ago
Number of Graduates: 486
Student Advising: voluntary
Internships: 148
Student Organizations: 6
Career Services: Based in TU Career Center
CBE Outreach Events: none known
Number of Faculty Grants and Contracts
Submitted: 0 at $0
Number of Faculty Intellectual Contributions
(research, presentations, etc.): 121
Today
Number of Graduates: 723
Student Advising: mandatory
Internships: 610
Student Organizations: 11
Career Services: TU Match Program in CBE in
addition to TU Career Center
CBE Outreach Events: 8
Number of Faculty Grants and Contracts
Submitted: 7 grants for a total of $147,318
Number of Faculty Intellectual Contributions
(research, presentations, etc.): 195
With the start of yet another academic year, I’d like to express heartfelt thanks to all CBE alumni and
friends who have so generously supported our work in the past. I am delighted to have been able to become
better acquainted with members of the AASCB review team, as well as with new students, faculty, staff,
partners and alumni. As always, I’m very proud of CBE graduates as they “hit the ground running”
to launch successful careers. We look forward to another successful year as we strive to make our college
the very best of its kind.
2
Towson University
Shohreh A. Kaynama ’76
Dean and Professor, College of Business and Economics
new business
CBE launches Undergraduate Entrepreneurship Program
CBE is joining the ever-expanding ranks
of U.S. colleges and universities that
offer entrepreneurship as a formal field
of study.
Required courses for the 24-unit
entrepreneurship program, to be offered
through the Department of Management, include Entrepreneurship and Small
Business, Entrepreneurial Finance, Sales
Management, Project Management, and
a consulting workshop. Students may
choose from up to nine units of electives,
including an entrepreneurship practicum,
international entrepreneurship, a business
plan competition, and family business
management.
society know that Towson, as a metropolitan university, highly values creativity
and change,” she says. “We offer entrepreneurship as a tool that our students
can use to stay competitive in a global
business environment.”
CBE Dean Shohreh Kaynama says the
program marks a first in TU history.
Eight freshmen have thus far signed up
for the program. CBE plans to begin
offering the entrepreneurship program in
spring 2008.
“By promoting entrepreneurial thinking, we are letting our students and
CBE Advisory Board Welcomes New Members
Rita Costello, senior vice president of strategic marketing of
CareFirst BlueCross BlueShield, Karen Deeley ’75, vice president
of MacKenzie Commercial Real Estate Services, Drew Elburn,
vice president of business development for The ACI Group,
Steven K. Fedder, partner at Leitess Leitess Friedberg &
Fedder P.C., Tom Iler, chief information officer of Advertising.
com and F. James McGrath ’79, vice president of human relations for the U.S. Consumer Products Division of McCormick
& Co., accepted Dean Kaynama’s invitation to join the CBE
Advisory Board. The board’s Nomination and Membership
Committee introduced the six members during its first meeting
of the 2007-2008 academic year.
Rita Costello
Senior Vice President
Strategic Marketing
CareFirst BlueCross
BlueShield
Steven K. Fedder
Karen Deeley ’75
Vice President
MacKenzie Commercial
Real Estate Services
F. James McGrath ’79
Former CBE Dean chairs
Department of Accounting
Timothy Sullivan chairs
Department of Economics
Alan Leberknight
returned in August as interim chair of the Department
of Accounting. He replaces
Doc Steedle, who had served in the
position for the past 14 years.
Associate professor
Timothy E. Sullivan is
chairperson of the Department of Economics. He
replaces George Georgiou, who stepped
down before taking a sabbatical.
Sullivan’s work has appeared in The
Encyclopedia of World Poverty, The
Encyclopedia of Chicago History,
American National Biography, among
others. His numerous book reviews
include more than 100 publications in
Choice and Business Library Review in
addition to his service as a regular
reviewer of the American Reference
Books Annual. Georgiou had served as
chairperson for 12 years.
Leberknight, dean of the College of
Business and Economics from 1995 until
his retirement in 2001, brings 24 years
of banking experience to the position,
including terms as president of the Bank
of Baltimore and executive vice president
of Signet Bank. He also served as TU’s
interim vice president for administration
and finance and chief fiscal officer
from June 2005 to January 2006.
After retiring he spent two years as
president and CEO of Port Discovery,
where he is now a volunteer consultant
and board member.
Leberknight will remain at TU until a
permanent chairperson is selected.
Jeffrey Michael named
director of the CBE Center
for Applied Business and
Economic Research for
Grants and Contracts
Associate professor Jeffrey
Partner
Leitess Leitess Friedberg
& Fedder P.C.
Vice President of Human
Relations, U.S. Consumer
Products Division of
McCormick & Company
A. Michael is director of the CBE Center for Applied Business and Economic
Research (CABER) for Grants and Contracts. As the director, Michael will assist
the dean of the College of Business and
Economics in achieving college’s outreach
objectives. His responsibilities include
guiding the strategic direction of CABER
as well as managing grants, contracts and
proposal requests, in addition to establishing a collaborative system of networks
with federal, state and local agencies in
additon to the Division of Economic and
Community Outreach and the Regional
Economic Studies Institute at Towson
University.
Joining CBE in 1999, Michael has
collaborated with the TU Center for
Geographic Information Sciences (CGIS)
on externally funded grants. His research
has been published in various journals
including the Journal of Law and
Economics, Southern Economic Journal
and Environmental Science and Policy.
3
feature
AACSB International Assurance of Learning Standard: Adapting expectations to the school’s mission
and cultural circumstances, the school specifies learning goals and demonstrates achievement of learning goals for key
general, management-specific, and/or appropriate discipline-specific knowledge and skills that its students achieve in each
undergraduate degree program.
Putting the KSAs to
CBE understands the need for graduates to be broad-based and ready to perform immediately upon entering
the job market, both as individuals and in teams. CBE built Knowledge, Skills and Attitudes (KSAs) into the
curriculum as concrete, measurable and attainable objectives.
Meet two CBE students and a recent graduate who exemplify these qualities.
Meet Anne Marie Rose
sophomore, business administration/marketing
With a 3.85 GPA, 19-year-old Anne
Marie Rose not only met the requirements to become a business student—
she’s an entrepreneur and founder of
Anne Marie Rose Jewelry Designs.
Rose underwent a competitive screening process before she could pursue
her chosen major. As a pre-business
administration student she was
required to complete seven lower-level
prerequisite courses with at least a
2.70 in addition to most lower-level
general education requirements.
“The marketing concentration offers
the skills I need to build my company,”
Rose explains. “TU’s business program develops good presentation skills, and those skills are essential when meeting with
heads of companies.”
Anne Marie Rose Jewelry Designs generated $5,000 in sales
during the first six weeks of last summer. Rose works with
seven area retail shops, sells her products wholesale and runs
craft shows every weekend. She also holds home and children’s
party programs that give guests an option to design their own
jewelry. The company also repairs jewelry, sells bridal pieces
and offers a fundraising program that includes a special line
of awareness bracelets for the Susan G. Komen Breast Cancer
Foundation.
Although she’s been in the business program for just a few
months, Rose has applied her knowledge from the lower-level
core business classes in internships at Network Publications,
Inc., the Carroll Community Foundation, Studio Unknown,
4
Towson University
BlueRock Productions, and Taylor Royall Casting Agency.
Between running her own business, holding internships and
attending classes full-time, she serves as a Mary Kay
independent beauty consultant and a bookkeeper for Pine
Ridge Property Maintenance. She’s been involved with TU’s
e-Business Association and Circle K student organizations. In
addition, she has volunteered at Manor Care and the Ronald
McDonald House.
Juggling work, internships, school, socializing and family is
Rose’s greatest challenge. “I write a list every day so that I
can make sure nothing overlaps,” she says.
Despite an incredibly demanding schedule, learning is
always a priority.
And while she used to dislike group projects, Rose now says
that business is one large group project.
“I realized that when you own a company, you have to
divide the work and give employees projects that match
their strong points.”
“Every class you take is
important because you
never really know
which skill set you’ll
need in the future,”
Rose says. “Diverse
knowledge and skills
really set a Towson
business student
apart in the
job market.”
feature
More about incoming business students
Number of
applications: 2,171
the test
Number of accepted: 1,453
Residents outside of
United States.: 19
Number enrolled: 440
Male students: 243
Average GPA: 3.41
Female students: 197
In-state resident: 305
Report compiled by the TU Office of Institutional Research in fall 2006
Faculty to student ratio:
1 professor to 21 students*
Average class size: 30*
Total number of faculty: 126
Meet soon-to-graduate Ryan Shupert
senior, business administration/finance
Number of study abroad
students: 67
Number of internships: 228
Number of transfer students: 136*
Total female students: 1,203*
Ryan Shupert was three semesters
into an engineering program at an
out-of-state university when he
realized he was in the wrong field.
He thought about transferring to
TU almost immediately after
listening to his brother recount
his experiences as a former
business student.
Despite his anxiety about the change,
Shupert decided to enroll in CBE.
He now studies finance and
maintains a 3.59 GPA.
Out of state resident: 116
Total male students: 1,729*
Total number of majors: 2,860
Total number of freshmen: 554,
19 percent of total CBE student
population
Total number of sophomores:
568, 20 percent of total
CBE student population
Total number of juniors:
825, 29 percent of total
CBE student population
Total number of seniors:
882, 31 percent of total
CBE student population
Total number of second bachelor’s:
30, 1 percent of total CBE
student population
Total number of minors:
342 BUAD, 37 ECON
Report compiled by the TU Office of Institutional Research in spring 2007
* reflects statistics compiled in fall 2006
He also turns to business publications, noting that the university
subscribes to most, if not all, consumer business magazines.
“The classroom experience at
Towson is three times better than
it is at other places,” Shupert says. “It’s great to be able to do
real-world tasks like working in Microsoft Excel.”
Shupert believes that all the CBE courses he took will prove
useful when he launches his business career. He even credits
classes that didn’t fall directly under his finance concentration
with helping him understand the “big picture.”
Last semester, he enrolled in 19 units of coursework in
addition to an internship in asset allocations administration
at Ferris Baker Watts. He credits his business writing class in
helping him with interoffice communication at his internship,
as well as with resumé and memo writing.
“It’s important to learn how to look at a company and understand that practices ranging from good strategic management to
accounting techniques play into marketing,” he says, “as well as
into why people would or would not want to invest in a
company’s product or service.”
“All of the upper-level business classes have helped me learn
how to write and present information more clearly,” he says.
“Statistics II helped me learn how to make a rational analysis
from looking at a spreadsheet.
Shupert points out that each CBE course devotes at least two
class sessions on ethics and its importance to all aspects of
business. His personal ethic, based on what he’s learned thus far,
emphasizes the importance of maintaining good relationships
with others.
“I can’t say enough about Cornerstone. The class has even
helped me analyze conflicts more easily.”
The cornerstone class also taught Shupert how to use campus
resources. When working on a research project, he runs searches
on Cook Library’s Hoovers or Wall Street Journal databases.
“You have to impress everyone you meet,” he explains. “You
never know who’s going to be on your team in the future or who
could be in a position to offer you an opportunity.”
5
feature
Meet Adina Mitnick Hollander ’04
accounting
Adina Mitnick Hollander knew she had
scored well on the Uniform CPA Examination when she learned that she passed
each exam section on the first attempt.
But she never would’ve guessed that she
was among the top scorers in the United
States with all four scores averaging to
96 percent—a distinction that placed
her among the top 10 percent in the
United States, earning her the
prestigious Elijah Watt Sells Award.
PricewaterhouseCoopers, which offered
Hollander a position before she graduated, recently promoted her to senior
associate. She worked in the Baltimore
office for a year before marrying and
moving to New Jersey. Her position with
the Big 4 accounting firm now gives her
the flexibility to telecommute from home as she cares for her
8-month-old son.
She says her interest in accounting developed at a young age.
Looking back, Hollander says she always enjoyed mathematics
and working with numbers.
“I heard that Towson’s accounting program was excellent from
talking to others who had gone through it,” Hollander says.
“My parents lived in Baltimore, and I knew I wanted to live at
home, so going to Towson made sense.”
Among her favorite courses in the program were the advanced
accounting courses. She adds that some of what she learned
about finance also helped her.
“When you’re in school it’s hard to know
what you’re going to come across later,”
Hollander says. “I’m glad Towson gave
me a well-rounded education that will
continue to serve me well.”
As senior associate, Hollander has taken on supervisory
responsibility, which she says she enjoys.
“When I’m reviewing other people’s work, it puts me in the position of being a coach or a leader,” she says. “I often advise new
associates that in order to succeed you have to look for opportunities and take advantage of the resources you have around you.”
“Everything you go through in life affects you,”
Hollander says. “Where I am now is influenced
by my Towson experience.”
More about recent TU business graduates
Number of 2006-2007
graduates: 723
Graduate Survey Results
Response Rate: 43.7 percent
Employment
Accepted full-time position:
40 percent
Attending graduate school:
10 percent
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Towson University
Average Salary
All BUAD grads: $37,264
Accounting: $46,889
e-Business: $40,000
Finance: $36,875
Human Resource Management:
$32,875
International Business: $48,000
Marketing: $32,566
Management: $40,337
Survey administered by the CBE
Office of Student Academic Services
Top 20 Employers of
CBE Graduates
Self-employed
Social Security Administration
State of Maryland
Northrop Grumman Electronic
Systems
Bank of America
T. Rowe Price Associates
Foundation, Inc.
Black & Decker Corporation
Legg Mason, Inc.
M & T Bank
Towson University
CareFirst BlueCrossBlueShield
Baltimore County Public Schools
Baltimore Gas & Electric Company
SC&H Group, LLC
Johns Hopkins University
Baltimore County
Deutsche Bank, Alex. Brown
United States Government
Wachovia Corporation
Department of Defense
Report generated by the TU Development
Office Information Technology Team
feature
AACSB International accreditation continuously challenges business schools to perform at the highest level.
AACSB accreditation tells prospective students, faculty and employers that an AACSB International accredited school
produces graduates who are prepared to succeed in the business world.
Taking AACSB accreditation to the classroom
Maintaining AACSB International accreditation is a distinction that places CBE in the top 10 percent of the world’s business
schools and in the top one-third of all U.S. business schools.
To achieve accreditation, business programs must satisfy the expectations of a wide range of quality standards relating
to strategic management of resources, faculty qualifications, interactions of faculty and students in the educational
process and achievement of learning goals in degree programs. These standards are linked to the school’s mission.
What value does AACSB accreditation bring to CBE students, faculty and staff? Six share their perspectives below.
Jennifer Carey
Quincey Johnson
Student, UB/Towson MBA program
Associate Director, Admission and
Financial Aid
Oldfields School
Coordinator of Communications
Writing and Cornerstone, College of
Business and Economics
“AACSB accreditation speaks volumes
about the quality of the program
and its faculty. Because Towson is
dedicated to maintaining accreditation
standards, I know that I will be
prepared for the next stage in my
career and that my degree will be held in high regard.”
Eva deFrancisco
Assistant Professor, Department
of Economics
“Having AACSB accreditation affects
me in my role every day. It makes me
work even harder to maintain and
improve the already high quality of
teaching and research taking place in
the College of Business and Economics.”
Cliff Ishmael
Executive-in-Residence, College
of Business and Economics
“AACSB accreditation creates a source
of competitive advantage for students in
the College of Business and Economics.
In the professional experience course I
teach, we talk about the importance of
graduating from an AACSB-accredited
business school and how it can be leveraged as an advantage.”
“I am proud to be part of an institution where excellence is the standard.
The accreditation process forces us to
truly think about what it means to be
good at what we do and helps us learn
what we need to do to meet the future
needs.”
E. Garland Keesling III
Professor, Department of Marketing
& e-Business
and Chair, AACSB Oversight Committee
“Having been educated in AACSB
accredited programs, I gained an
appreciation for the quality of the
faculty in competitively preparing me
for the next stage in my life. Now I’m
able to take that same advantage to the
classroom and help positively impact my students in preparing
them for successful futures in the work force. ”
Alison Miller
Student, Marketing and International
Business
“Towson’s business and accounting
accreditation had a major impact on
my decision to transfer to TU because
it reflects the quality of the classes,
professors and administration. When
I graduate, I want to have a degree
that employers recognize as the
‘cream of the crop.’”
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AACSB International Strategic Management
Standard: The school publishes a mission statement or its
equivalent that provides direction for making decisions. The
mission statement derives from a process that includes the
viewpoints of various stakeholders. The school periodically
reviews and revises the mission statement as appropriate.
The review process involves appropriate stakeholders.
CBE On a Mission
Rewind to 1996. TU’s School of Business and Economics becomes
the College of Business and Economics (CBE) shortly after
receiving AACSB International accreditation for both its business
and accounting programs. Moving forward, the CBE mission and
core values statements remain a driving force as the college grows
in size and stature.
During academic year 2003-2004, CBE leadership initiated an
annual review process of the CBE mission statement and strategic
plan. The process involved in the evolution of the CBE mission
and core value statements since then is outlined below.
Oct. 2003 The CBE Advisory Board Strategy Committee
forms to analyze and update the strategic plan.
Jan. 2004 The CBE Advisory Board seeks input about the
Strengths, Weaknesses, Opportunities and Threats
(SWOT) analysis in the strategic plan.
Nov. 2004 In collaboration with CBE faculty, the CBE
Advisory Board Strategy Committee introduces a
conceptual planning model based on five objectives: quality, access, responsiveness, productivity,
and branding.
Feb. 2005 The CBE Advisory Board Strategy Committee
presents a refined version of the Strategy Planning Model to CBE faculty and the CBE Advisory Board.
Apr. 2005 The CBE Strategy Planning Model is modified to link with the vision and strategy outlined in
Towson University 2010: Mapping the Future.
8
The CBE Advisory Board discusses and modifies the SWOT analysis results.
Towson University
June 2005 CBE department chairs and program directors provided a status report for the action items within
the strategic plan.
Feb. 2006 The results of the CBE branding focus group
are presented to the faculty and the CBE
Advisory Board.
Mar. 2006 AACSB consultant Greg Bruce recommends
rewriting the mission statement to better reflect
CBE’s “applied business learning.”
Apr. 2006 The CBE Advisory Board Strategy Committee
revises and approves the mission statement
philosophy.
May 2006 The Advisory Board approves the mission statement
and presents it to the faculty for feedback.
June 2006 CBE faculty comments and revisions are
incorporated in the draft mission statement.
Aug. 2006 Ishmael, Ross and Doug Sanford begin working
on mission statement definitions and measures.
spotlight
CBE Vision, Mission and Core Values Vision
Vision
CBE Core Values
To be widely recognized as a premier
college of applied business learning
The College of Business and Economics
values and commits to inclusiveness in its
decision-making process by preparing
students for life beyond college. It
creates a culture that nurtures lifelong learning, enabling outreach
that strengthens organizations
and communities within our
sphere of influence. CBE
fosters an environment that
respects all people and their
diverse roles and contributions respecting freedom of
inquiry. The college values
openness, fairness, honesty,
accountability and
ethical behavior.
Mission
Towson University’s internationally
accredited College of Business and
Economics offers high-achieving students,
at both the undergraduate and graduate
levels, a quality, accessible and comprehensive business-relevant education that
prepares them to compete in a global
economy. The college provides faculty
members who exercise a balance of
theory and application, who meet
academic and professional standards in
scholarship and practice, and who
provide a responsive and responsible
learning environment. CBE engages in
outreach that involves alumni, business
partners and community leaders in
promoting economic, educational and
societal advancement.
Doug Ross teaching a
business strategy class
Sept. 2006 Ross assigns the task of updating the CBE Strategic
Plan and providing feedback on the revised mission
statement to students in his Business Strategy class
(MNGT 481).
Oct. 2006 The CBE Advisory Board Strategy Committee
reviews the process for developing mission statement definitions and measures.
The comments provided by Ross’ Business Strategy
class are received by the Strategy Committee to
be incorporated in the mission statement and
strategic plan.
Nov. 2006 The CBE Advisory Board Strategy Committee and
the full CBE Advisory Board review the revised
vision, mission definitions and measures.
The CBE Advisory Board returns the document
to Ishmael and Ross for further review.
Jan. 2007
The CBE Strategic Plan is updated to include the
comments of Ross’ Business Strategy class.
The document is forwarded to CBE chairs, directors
and staff for review.
The CBE Advisory Board Strategy Committee
approves the revised mission statement.
Feb. 2007 CBE chairs, directors and staff comments are
incorporated into the revised draft.
The revised mission statement definitions, measures
and strategic plan are forwarded to the CBE Advisory
Board Strategy Committee for comment.
Mar. 2007 The CBE Advisory Board Strategy Committee’s
comments are incorporated and a mission
statement measurements matrix is developed.
The measurement matrix is forwarded to the
CBE Advisory Board for final approval.
Apr. 2007 The CBE Advisory Board approves the
implementation of the revised mission and
measurements matrix.
May 2007 The CBE Council approves the mission statement
and its accompanying measurement matrix.
9
spotlight
Faculty Research
AACSB International Participant Standard: The faculty has, and maintains, intellectual qualifications and current
expertise to accomplish the mission and to assure that this occurs, the school has a clearly defined process to evaluate individual
faculty members’ contributions to the school’s mission.
How does bundling your products or services
impact consumer decisions?
By Judy Harris
Adopted from Consumer Preference for Product Bundles: The Role of Reduced Search Costs, co-authored with Edward A. Blair, Department of
Marketing, University of Houston C.T. Bauer College of Business, as part of a research series of published and unpublished work. It appeared in
the Journal of the Academy of Marketing Science in October 2006.
“I’ll take combo number 3, please.”
Do you often find yourself grabbing a
combo meal at the closest fast-food joint
on the run between back-to-back
meetings? Or when purchasing a
hot-ticket item like a new car, do you
opt for what seems like the perfect
package? If so, then you are choosing
what marketers call bundles.
Fast-food restaurants may offer combo
meals to increase the sale of side items,
while car dealers can offer option packages to encourage consumers to purchase
more than they would typically. Marketers commonly bundle two or more
products or services into a single offering
as a way to influence consumer choice.
Despite the ubiquity of bundles, little
research has examined the factors that
might drive consumer preference for
bundles versus individual items. This is
an important issue not only from a
scholarly perspective, but also from a
practical point of view. As your marketing team gains a better understanding
of when bundles are valued more highly
than the items alone, your company will
be in a stronger position to encourage
consumers to purchase bundles.
10
Towson University
Designing a fast food menu so that the
combo meals are seen first
should increase the
likelihood that
consumers order
the meal.
“Results show that consumers
prefer bundles in situations when
search costs are reduced by the
choice of a bundle.”
What is order of evaluation?
If a consumer encounters a bundle relatively early in the decision-making process, then his or
her decision to choose a bundle may be seen as a way to reduce the processing effort needed
to evaluate individual items. However, if bundles are encountered later on by the consumer,
the ability of the bundle as a way to avoid processing effort is reduced. In fact, considering a
bundle at this point may actually necessitate more processing effort if the value of the bundle
is weighed against the individual items. These effects should be strongest among those consumers who are less able or willing to engage in the effort.
spotlight
Faculty Research
Bundles vs.
Individual Items
Important drivers of bundle
preference include reduced search
and assembly costs. Through a series of
studies, we conducted several experiments to examine order of evaluation
and motivation to process information.
Results show that consumers prefer
bundles in situations when search costs
are reduced by the choice of a bundle.
First, we conducted three focus groups
comprising senior citizens, MBA students
and undergraduate students. The first
group included 10 members of a local
church group ages 55 to 70. The second
session included 18 students ages 26 to
52 enrolled in an evening MBA class at a
large university. Our third study included
18 undergraduate students ages 21 to 33.
In each session, participants discussed
what they liked and disliked about
bundles. From our groups, the points
about bundles that drew the most
agreement in all three sessions include
bundling’s ability to reduce search time
and decision complexity.
Next we conducted two experiments
using order of evaluation to analyze the
process of how bundling allows
consumers to reduce search costs. The
first experiment included 40 participants;
the second experiment featured 117.
As stimuli, we created two versions of a
stereo equipment catalog. Both versions
included two bundles of complete stereo
systems as well as 70 individual components of various makes, models and price
ranges. The two versions of the catalog
were identical except that in one version
the systems (or bundles) were placed at
the front of the catalog, while the systems
were placed at the back in the other
version.
Participants who evaluated the bundles
first were more likely to choose a bundle
(61 percent vs. 18 percent for participants
with bundles in the back), and were more
likely to mention that the bundle would
be easier to purchase (57 percent vs.
11 percent for participants with bundles
in the back). Participants with the bundle
in the front also took less time to make a
purchase choice (an average of 6.6 vs.
9.5 minutes).We then replicated this test
to a larger sample size, extending the
study to test the moderating effect of motivation to process information. Echoing
the results obtained from our first round
of participants, more chose bundles when
they were presented early. Also, this effect
was stronger among participants with less
motivation to process information (lower
motivation: 38.71 percent vs. 14.81
percent; higher motivation: 21.43 percent
vs. 35.48 percent).
Do customers prefer bundles?
Our studies confirm that when bundles
offer an opportunity for meaningful
simplification of the decision, they can
be an attractive option even if no price
savings are offered. Offering a large
discount on a bundle relative to the
separate components may be tantamount
to throwing profits away. The results also
suggest that preference for bundles will
be highest when they are presented as the
first purchase option. In our research, this
was accomplished by placing the bundles
earlier in a catalog. In an online context,
bundles might be presented on one page
and require click-through to individual
items. In a retail context, one bundle
might be placed earlier in the dominant
traffic flow. Likewise in a context such
as fast-food menu boards, one might
place combos on the left-hand side if
consumers process such information
from left to right.
“Offering a large discount on a bundle relative to
the separate components may be tantamount
to throwing profits away.”
Judy Harris
Judy Harris, assistant
professor, Department
of Marketing &
e-Business, joined Towson University in
fall 2006. Her research focuses on buyer
behavior from a social psychological
perspective, utilizing theories of cognition and persuasion to answer theoretical and applied questions concerning
consumer response to price and
promotional variables. Her work has
been published in the Journal of
Consumer Research, Journal of
Retailing, Journal of the Academy of
Marketing Science and Journal of
Advertising Research, to name a few.
Her teaching interests include marketing strategy, advertising management,
integrated marketing communications,
retailing management, buyer behavior,
marketing research and database
marketing. She has taught at the
undergraduate, MBA, and Ph.D. levels.
She also served as a consultant for large
companies in the financial services,
health care, retailing and software
industries and as a senior research
fellow for C3Research, a strategic
marketing research company in
Orlando, Fla.
Her expertise has been featured in
the Baltimore Sun, The Daily Record,
Orlando Business Journal, Orlando
Sentinel, Miami Herald and South
Florida Business Journal. She has been
interviewed for consumer and advertising stories on MPT’s Business Connection, WFTV ABC Orlando and WKMG
CBS Orlando.
11
alumni and friends
Alumna credits corporate success
to TU, business experiences
N
ot many people can say they’ve
been business travelers most of
their adult life.
that preceded my university training, it
all combined to enable me to become a
successful corporate contributor.”
But Suzanne Ligouri Burke ’80 can.
Shortly after graduating from TU, Burke
left Baltimore for Chicago for a position as personnel manager of Signature
Financial Marketing in Evanston, Ill.,
before moving permanently with her
husband, David, to Malibu, Calif.,
where they have enjoyed west coast life
ever since. She says she still considers
Baltimore her home and enjoys
entertaining her Malibu friends with
crab cakes shipped from a Cockeysville
restaurant. She returns to Baltimore
several times a year to visit her twin,
Sharon, who is also a successful TU
graduate.
Rather than enroll in a university
immediately after high school, Burke
went on to a community college nursing
program, which removed her from what
she termed a “small neighborhood life”
to a bustling, dynamic new world at The
Johns Hopkins Hospital. After receiving her associate’s degree in nursing, she
took a position as a research assistant in
The Johns Hopkins University School of
Hygiene and Public Health.
She quickly moved to more challenging
roles within the administration of The
JHU Medical Institutions with her most
significant role in Employee Relations
and Human Resources, where she was
primarily responsible for recruiting
medical professionals throughout the
United States and Canada. This required
developing innovative networking
programs with other university hospitals
using marketing, demographic research,
public relations, interviewing and placement skills, speeches, and magazine
articles to keep Johns Hopkins as the
number-one choice for employment for
medical professionals.
The duties prompted her to enroll as
an evening student in TU’s business
administration program.
“I had no idea my career path would
take me in the direction it did, but once
it was clear that my job required mental
agility, verbal acuity and masses of creative spontaneity, not to mention business savvy, I knew I had to go back to
school,” Burke explains. “Being seat-ofyour-pants smart is one thing, but being
seat-of-your-pants educated is something
else altogether.
“Once I combined smart with educated
and added a whole range of experiences
12
Towson University
In Malibu, the Burkes founded The
Burke Group (TBG) in 1981. As
executive vice president and director
of their four corporations, Burke provides financial, legal and administrative
oversight to the world’s largest labor
relations consulting firm.
TBG specializes in labor relations and
provides consulting services to management in companies seeking labor
relations solutions. TBG’s multilingual
staff accepts assignments in the United
States, Canada, Central America and
Mexico as well as the United Kingdom
and Europe and provides comprehensive
leadership guidance and training to all
levels of management.
The firm has several U.S. offices as well
as a resident director within the United
Kingdom.
“Any business that operates in a global
arena has to be on top of the law and
world politics at all times and make
constant adjustments in order to assure
that our clients receive the most effective
advice,” Burke says.
Burke credits a TU course in Labor
Relations and Arbitration and its mootcourt classroom experience in providing
Suzanne Ligouri Burke ’80 relaxing
with her husband, David.
her with a meaningful introduction to
analyzing case studies and understanding contracts.
“We were all case studies in the
making,” Burke recalls. “Not only
did we learn how to employ the
National Labor Relations Act, but
we also learned legal posture and
language, which is very important in
any corporate setting.”
She also says her TU business writing
course helped her to hone her ability
to use language effectively in the
workplace.
“Proper use of language and grammar
is an exceedingly important skill in any
job,” Burke adds. “Unfortunately, it’s
getting lost in today’s computerdependent world. Computers may be
able to check spelling, but they can’t
write reports and memos.”
While acquiring experience in both
professional and classroom settings,
Burke also learned the importance
of striking a balance between work
and her personal life.
“I learned early on that when you are
married, raising a family and involved
in work day-to-day, you make compromises to maintain a successful and
enduring relationship,” she says.
“It was easy to choose to be an ‘anchor’
and remain close to home, which
allowed me to raise my daughters
while being involved in a strong
corporate entity.”
alumni and friends
CBE helps feed
Maryland’s hungry
It was an offer she couldn’t refuse.
In 2006, when CBE advisory board member Fred Mirmiran
asked Dean Kaynama to join the Maryland Food Bank board
of directors, she didn’t hesitate to say “yes.”
That’s because feeding the hungry is a cause close to the hearts
of both Kaynama and Mirmiran, president and CEO of
Johnson, Mirmiran & Thompson.
“The United States is one of the most affluent countries in the
world—no one should be hungry here,” Kaynama says. “Being
part of the Maryland Food Bank involves working with others
to come up with social solutions for hunger as well as channeling food that would otherwise be wasted to those in need.”
“The Blue Jean Ball is a great way to get people
engaged in our mission and in the act of helping
to feed the hungry.”
CBE Dean’s Office staff Carrie Oleynik (left), Laleh Malek,
Quincey Johnson, Louise Laurence and Shohreh Kaynama
were among 550 guests at the Maryland Food Bank’s annual
fundraiser.
public relations, contributed personal items as donations and
called upon friends for sponsorships, auction items, in-kind
donations and more.
“Our board was a dynamic influence on this year’s Blue
Jean Ball,” says Deborah Flateman, CEO of the Maryland
Food Bank.
“The Blue Jean Ball is a great way to get people engaged in our
mission and in the act of helping to feed the hungry.”
More important, the money raised at the Blue Jean Ball enables
the organization to distribute a million pounds of food and
more than 780,000 meals to hungry Marylanders.
Arshia Mirmiran (left) joins Maryland Food Bank board
members Shohreh Kaynama and Fred Mirmiran in
support of helping Maryland’s hungry during the 2007
Blue Jean Ball.
Kaynama has taken an interest in other Maryland Food Bank
programs, including the BackPack Program that provides
35,000 backpacks each week to children from food-insecure
homes nationwide. At host sites, each child’s backpack is
stuffed with enough food to last Friday through Monday, thus
ensuring that children and their families don’t go hungry over
the weekend.
And, since Kaynama joined the Maryland Food Bank board,
CBE marketing students have worked with the organization on
market-research projects. CBE will also hold a collegewide food
drive this fall. The department that collects the most food will
select a student for Kaynama to mentor for a day.
This year the Maryland Food Bank board more than doubled
the amount raised at its Blue Jean Ball to $250,000. The annual fundraising event, held at the Maryland Food Bank’s
87,000-square-foot warehouse, attracted 550 guests who
danced to classics like Shout and YMCA under sparkly disco
balls. Highlights included live and silent auctions as well as
food provided by Steve de Castro of Ruth’s Chris Steak House,
Blue Sea Grill and Babalu Grill.
While Kaynama views her involvement with such a worthy
cause as an invaluable opportunity to help her fellow citizens,
she adds that sitting alongside a generous, hardworking and
warmhearted colleague like Mirmiran adds to the experience.
Board members spearheaded sponsorship, ticket sales, and the
auction effort for the Blue Jean Ball. They also assisted with
For more information on how to become more involved with
the Maryland Food Bank, visit www.mdfoodbank.org.
“Fred has such a big heart,” she says. “He works so hard to
help others and is so modest and unassuming.
“He demonstrates daily why helping Maryland’s hungry is a
cause to stand behind.”
13
cbe advisory boards
The members of the CBE Advisory Board and Accounting Advisory Board serve as advisory groups to the dean, department chairs
and staff of the College of Business and Economics. The public looks to the board members to assure the integrity of the College of
Business and Economics is maintained in its external and internal fiscal, legal and policy matters through membership, guidance,
advocacy and development.
CBE Advisory Board
Mike Donahue ’74
Board Chairperson
Partner
Systems and Process
Assurance
Pricewaterhouse
Coopers, LLP
Stephanie Beran ’80
Vice President of Risk
Management
Legg Mason, Inc.
Art Casserly ’75
Vice President
1st Mariner Bancorp
Rita Costello
Senior Vice President of
Strategic Marketing
CareFirst BlueCross BlueShield
Karen Deeley ’75
Vice President
MacKenzie Commercial Real
Estate Services
Drew Elburn
Vice President, Business
Development
The ACI Group
Steven K. Fedder
Partner
Leitess Leitess Friedberg
& Fedder P.C.
Ellen R. Fish
President
Towson Community Bank
a division of AmericasBank
Thomas Iler
Chief Information Officer
Advertising.com
Gergana Iotina ’98
Attorney at Law
Siskind, Grady, Rosen
& Hoover, P.A.
14
Towson University
Deborah G. Jonas
Manager, Organizational
Development &
Communications
Black & Decker
Shafiq Khan
Vice President of eCommerce
Marriott International, Inc.
F. James McGrath ’79
Vice President of Human Relations
U.S. Consumer Products
Division
McCormick & Company, Inc.
Pepper Karen Mintz ’89
Account Executive
HNP Pharmaceuticals
Fred Mirmiran
President & CEO
Johnson, Mirmiran
& Thompson
George Reynolds
Director, Industry &
University Initiatives
Electronics Systems
Northrop Grumman Corp.
Glenn Ross ’81
Managing Director
Archstone Portfolio
Solutions
Louis E. Sapperstein
Vice President &
Shareholder
Rosen, Sapperstein
& Friedlander,
Chartered
Deborah Tillett ’76
Executive Vice President
BreakAway, Ltd.
Katie Weishaar ’04
Vice President
Marketing & Strategy
Community Analytics
CBE Accounting Advisory Board
Ella Bartels ’95
Assistant Controller
I4 Commerce
Deborah Norris
CPA
Herzbach & Company, P.A.
Tamara Basso Bensky ’93
Meyers and Stauffer LC
Nancy S. Palmer
General Manager
Caves Valley Golf Club
Ronald M. Causey ’86
Director
SC&H Group, LLC
Todd Feuerman ’87
Director
Ellin & Tucker, Chartered
Ernie Paszkiewicz
Gross, Mendelsohn &
Associates
J. Kyle Richards ’98
Chernoff & Richards, P.A.
Jay A. Goldman
Director
RSM McGladrey, Inc.
Robert W. Sharps ’93
Vice President
T. Rowe Price Associates, Inc.
Alla R. Kashlinskaya ’96
Senior Manager
Mergers and Acquisitions Tax
KPMG LLP
John F. Short
Washington Federal Practice
PricewaterhouseCoopers, LLP
Daniel J. Kenney
Principal
Reznick Group, PC
John Kraft
Clifton Gunderson LLP
Matt Leber ’01
Manager
Deloitte & Touche, LLP
Audit and Enterprise Risk
Services
William J. Tignanelli ’77
Senior Vice President
Federal Reserve Bank
Sathya Vardhana
Audit Manager
Legg Mason & Co., LLC
class notes
Kevin Davenport ’05 BUAD/FIN is a spokesperson for
Quality Building Corp., a company that specializes in buying
problem houses in all price ranges and restoring them for sale.
TU this fall with a photography scholarship. Their son, Daniel, and
youngest daughter, Rebecca, are starting 10th grade and 7th grade,
respectively.
Christopher Frew ’04 BUAD/MKTG started a new scientific division within TechUSA to provide staffing solutions to the pharmaceutical and biotechnology industries. As an account executive, he
helped grow this new division to a total of eight employees within
the first year.
Andy Ho ’99 BUAD/MNGT works as an accountant for the City
of Baltimore’s Employees’ Retirement System.
Steve Green ’05 ACCT deployed over the summer to Afghanistan
and Iraq, where he will continue investigative work with the U.S.
Army Audit Agency.
Steven Kruskamp ’05, works for 1st Mariner Bankcorp. where
he was recently promoted to officer.
Wendy Chernak Hefter ’85 is the owner and operator of PSP Press,
Inc., DWH Office Services and Assistant on Call organizing services.
She is also the author and publisher of The Complete Jewish
Wedding Planner. She and her husband, David, just celebrated their
22nd anniversary. Their oldest daughter, Stephanie, completed her
freshman year at TU with a 4.0. Another daughter, Amy, started
Lance Johnson ’93 is employed at 1st Mariner Bankcorp. He was
recently named vice president.
Bonnie Gladmon McFadden ’97 BUAD/MNGT married
Scott J. McFadden, a U.S. Navy lieutenant, on July 1, 2006.
Tonya L. Waller ’93 BUAD/FIN married Gregory L. Primus, M.D.,
an orthopedic surgeon, on March 18 in Puerto Rico, where they
met. They live in Chicago.
Share Your News
CBE Alumni: Your friends from the College of Business and Economics want to know what’s new with you. Just complete this form and
send updates on your personal and professional accomplishments to Class Notes, Office of the Dean, College of Business and Economics,
Towson University, 8000 York Road, Towson, MD 21252-0001, or visit us online at http://www.towson.edu/cbe/alumni.
PERSONAL INFORMATION (Please print)
Check one: q Dr.
q Mr.
q Ms.
q Mrs.
Name_ ____________________________________________________________________________________________ Class Year_____________
Major/Concentration____________________Name at Graduation________________________________________________________________
Address _______________________________________________________________________________________ (Circle one: home or business)
City________________________________________________State_________________ZIP______________Country________________________
Phone______________________________________________E-mail________________________________________________________________
If business address, company name_ _____________________________________________ Position/Title_________________________________
Previous Address (if you are sending this to update your address)_________________________________________________________________ HERE’S MY NEWS (attach a separate sheet of paper, if necessary)_______________________________________________________________
________________________________________________________________________________________________________________________
________________________________________________________________________________________________________________________
________________________________________________________________________________________________________________________
You have my permission to include my news in the Class Notes section in the next Business Dialog q Yes or q No
WE WANT TO KNOW: What are your hobbies or interests?___________________________________________________________________
I WOULD LIKE TO HELP CBE STUDENTS BY: (Please check all that apply)
q Speaking about my professional experience, company
q Conducting informational interviews or arranging or industry
job shadowing
q Arranging a tour of my company or organization
q Serving as a mentor/professional coach
q Coordinating internships
q Supporting CBE scholarship(s)
q Providing job listings within my organization
q Discussing my CBE experience with prospective students
15
2006-2007 donor report
The College of Business and Economics Donor Report
W
e are deeply grateful to our donors for investing in Towson University’s College of Business and Economics, its students
and its mission. Your generous support contributes immeasurably to the intellectual and cultural life of the university,
helping to attract the people and support the programs that make Towson a distinctive institution of higher learning.
On these pages, we recognize and honor the alumni, friends, students, faculty, staff, corporations, foundations and other
organizations that have supported the College of Business and Economics from July 1, 2006 to June 30, 2007. Great care was taken
to ensure the accuracy of this listing, and we would appreciate your sharing with us any errors or omissions. Please direct inquiries to
Shannon Arehart, manager of stewardship programs and donor relations, at 1-866-301-3375 or sarehart@towson.edu. Thank you.
$100,000 and above
Molly F. Shock ’75
$25,000 to $49,999
Aramark Corporation
Northrop Grumman Electronic
Systems
$10,000 to $24,999
Michael Bernstein
Susan J. Ganz
Midstate Federal Savings & Loan
SC&H Group, LLC
$5,000 to $9,999
William G. McGowan
Charitable Fund
Kenneth V. Moreland ’78
Renee A. Moreland ’79
Anita L. Stark
Greg H. Stark
$2,500 to $4,999
Shohreh A. Kaynama ’76
Helen Murray
J. William Murray
Talcott Gran Charitable Trust
Marcia Zercoe ’82
$1,000 to $2,499
AmericasBank
Beverlae A. Barone
Edward H. Ben ’93
Stephanie M. Beran ’81
Black & Decker Corporation
Arthur C. Casserly ’75
Ronald M. Causey ’86
Clifton Gunderson LLP
Kenneth R. Davis
Linda C. Donahue
Michael X. Donahue ’74
Ellin & Tucker, Chartered
Ellen R. Fish
Jeremiah J. German
Pearl S. German
Grant Thornton, LLP
Gross, Mendelsohn &
Associates, P.A.
Hertzbach & Company P.A.
Gergana Emilova Iotina ’98
16
Towson University
Johnson, Mirmiran &
Thompson, P.A.
Deborah Jonas
KPMG LLP
Alan M. Leberknight
Michael Thomas Lyons ’95
Maryland Business Council
The Mirmiran Foundation
Fred F. Mirmiran
Nancy S. Palmer ’79
Howard Platt
Reznick Group
Rosen, Sapperstein &
Friedlander, Ctd.
Ross IA, LLC
Glenn E. Ross ’81
RSM McGladrey, Inc.
Louis E. Sapperstein
The Schwab Fund for
Charitable Giving
Ronald H. Seher
Sherry L.R. Seher
Pamela G. Sharps ’92
Robert W. Sharps ’93
Siskind, Grady, Rosen &
Hoover, P.A.
T. Rowe Price Associates
Foundation, Inc.
A. Andrew Tignanelli
Deborah A. Tillett ’76
Mitchell Patrick Tracy ’76
James K. Wilhelm Jr. ’87
The Carl M. Woolford
Foundation, Inc.
Barbara Young
Michael J. Young ’81
$500 to $999
Arthur F. Bell Jr. & Associates
Manoj Thomas Basuray
Lawrence J. Bensky
Tamara B. Bensky ’93
Brian M. Davis ’97
Deloitte Services LP
John A. Filler ’94
Ira M. Gilberg ’93
Grant Thornton Foundation
John L. Kenneally ’79
Louise Laurence
Legg Mason, Inc.
McCormick & Company, Inc.
Ricky Scott Rubin ’93
Stuart N. Rudo ’92
Barbara L. Shifflett ’79
Stegman & Company
Stoy, Malone & Company
David E. Ullman ’82
$250 to $499
Thomas H. Blackburn ’75
Martin Freedman
Ora Freedman
Nancy L. Gerling
Beth Ann Heidel
Maurice Duane Heidel ’75
Michael J. Kearney ’84
E. Garland Keesling III
Sidney Levin ’74
Angela F. Mease ’85
John J. Mease Jr.
Jeffrey A. Michael
Robert J. Miller
Elizabeth Lebling Morrison ’88
William D. Morrison ’86
Marguerite L. Phillips ’77
Daniel E. Popovich
Sherry L. Randles ’98
Jack I. Reader ’82
Richard B. Rosecky
Donald L. Rosenberg
Deborah G. Rosier ’02
Ahmad S. Shadman
Timothy E. Sullivan
Robert W. Tyler II ’88
$100 to $249
Sylvia H. Adams ’73
David J. Antol
Susan M. Antol
William John Archer Jr. ’83
Eric S. Bader ’98
Michelle L. Barrows ’04
Lori A. Battle ’90
Geoffrey Kellogg Benedict ’98
Tristine Janelle Benedict ’98 ’04
Jeff Binford ’03
Lawrence J. Blair Jr.
Sharon A. Blair
Michelle L. Blanchard
G. Michael Bogucki ’81
Matt S. Bralove ’05
Helen H. Brogan-Vansant ’83
Stacy M. Brown ’88
Jennifer M. Caramanico ’91
Michael F. Cashen ’78
Mordechai B. C. Cohen
Ruth M. Cohen ’00
Christina Marie Copper ’97
Elmore Cross
Lana L. Cross
Thomas K. Czawlytko ’84
Mark J. Darrell ’82
Kristi L. Donovan ’97
John Ensor
Bruce A. Eppard ’74
Donna M. Fields ’81
Edward B. Fields III ’82
Kirk Willis Fowler ’96
Melissa L. Fowler ’97
Anita C. French ’85
Gregory A. French ’82
Patrick D. Gahagan ’04
Edward Neil Gamber ’81
Dick Gilliam
Kathryn M. Gilliam
Kenneth H. Goad ’80
Suzanne C. Goad ’83
Lois Jean Graham ’90
Regina D. Gramm
Robert A. Gramm
Michele A. Hanzook ’97
Richard L. Harrison ’79
Robert J. Harvey ’78
Maria M. Hendershot
Robert R. Hendershot
Herrmann Technologies, LLC
Carter R. Herrmann ’92
Carol A. Hess ’88
Charles K. Hester ’97
Wendy A. Hester ’97
Timothy N. Hopkins ’80
Mary J. Hoskins ’83
James P. Hughes
Joan T. Hughes
Kevin D. Jackson ’84
Wesley Howard Johnson ’87
William G. Kern ’99
Jeffrey M. Klima ’01
Mary E. Kruft
Jennifer L. Labute ’98
Joel A. Labute ’00
Wendy E. Lanahan ’83
Alice P. Lehnert ’50
John R. Light ’72
Barbara A. Lykens
Linda Markowitz
Zvi Markowitz
Thomas J. Maronick
Bruce I. McMillan ’84
Carol C. Moore ’87
Chad Morgan
Christina M. Morgan
Donald G. Morley ’79
Burton S. Mullins
Charles E. Murphy Jr. ’79
Robin F. Norcross ’03
Victor G. Obringer ’81
Christopher T. Oddo ’05
Kyle M. Overmyer ’85
Christine M. Pervola ’05
Steven Phelps ’86
Jeanne-Elise Powers
Robert Joseph Przybylski Jr. ’85
David J. Riordan ’79
Robert Jesse Robideau ’81
Richard A. Roland ’77
Debra L. Rolando
Thomas A. Rolando ’87
Daniel J. Rostek ’94
Patricia L. Sandusky ’90
Barbara Ann Saxton ’87
Mary M. Saylor ’31
Scott A. Sheppard ’84
Paul F. Spiegel Jr. ’78
Rodney L. Stump
Precha Thavikulwat
Thunderroad Media Group, Inc.
Robert F. Toth ’88
Maria F. Tripodi ’92
Samuel P. Tsakalas ’78
James M. Walters ’94
Melissa A. Walters ’96
Ryan M. Warner ’96
Dale A. Waters Jr. ’91
Susan Waters ’93
Kimberly A. Weiss ’87
Brian Philip Wells ’87
Kenneth S. Wilbur ’84
Kerry Jay Wilson ’84
Barry Wylie
Lisa A. Wylie ’98
Dana L. Zacharias ’04
Rita M. Zienkiewicz ’78
Under $100
Rodney A. Adkins ’93
Azmah Ahmad ’03
Selena Alexander ’89
Lee Andrew Arbaugh ’84
Rhonda B. Armstrong ’91
Gregory L. Atkinson ’80 ’02
Peter Wade Bacon ’86
Raymond S. Barbagallo ’83
Kylie Nicole Bauer ’03
Karen Elizabeth Baxter ’05
John F. Blaser II ’03
Michael H. Bonczewski ’79
Kevin J. Boulier ’80
Elisabeth Anne Brewster ’91
Debra L. Burgan ’73
James F. Burton Jr. ’87
Suzanne Carol Burton ’87 ’91
Denise B. Carnaggio ’82
James B. Carnaggio ’81
Harry W. Carnes ’71
Thomas Allen Carroll ’93
David L. Cedrone ’80
Sandra R. Cedrone
Jeanne Marie Codori ’87
James D. Coletta ’06
Henry I. Cook ’73
Christine R. Covington
Mark Wayne Cowan ’80
Cecilia C. Deems ’90
Joseph R. DePalo ’77
Frances M. Dever ’86
Belkis A. Dubman
Robert W. Dubman ’75
Harriott A. Duby ’64
Louis E. Dunaway
Stephanie M. Dunaway
James Alexander Elder ’94
Diane M. Ellin ’02
Jeffrey R. Ellin ’00 ’04
Marc E. Ellison ’81
Danielle M. Epstein ’02
Erland E. Erickson ’97
Aileen M. Eskildsen ’96
Reginald Farmer ’93
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