The University of Texas at Austin
McCombs Weekly Vol. 9, No. 12 April 11, 2007   
McCombs School of Business
 

 

VIP Distinguished Speakers Series

Larry Kellner, president and CEO of Continental Airlines

Thursday,  April 12, 5:30-6:30 p.m.
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Hermes Spring Fling Set for April 19. Don't Miss it!
The Hermes Spring Fling will be held Thursday, April 19, from 3 to 5 p.m. Join the McCombs community for food, free Blue Bell Ice Cream, T-shirts, fun games, great prizes and special musical guests Carolyn Wonderland & Shelley King. Events will be held in the Atrium, the 3rd floor Special Events Room, the Hall of Honors and the 21st Street Plaza.
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Four from McCombs Earn Endowment Appointments
The following endowment appointments have been approved by the provost effective Sept. 1, 2007: Robert Parrino (right)Lamar Savings Centennial Professorship in Finance; Michael ClementKPMG Faculty Fellowship in Accounting Education; Raji SrinivasanThe Spurgeon Bell Centennial Fellowship; and Frenkel ter HofstedeCollins Hill Jr. Fellowship. Congratulations to these recipients for being recognized for their contributions to the McCombs School of Business.

Kusin and Konana Discuss Issue of Offshore Outsourcing
The issue of offshore outsourcing by U.S. firms continues to be a hot-button topic of discussion. Recently, Gary Kusin, BA ’72 and former CEO of FedEx Kinko’s, and Prabhudev Konana, associate professor in the Department of Information, Risk, and Operations Management at McCombs, discussed Konana’s research on the subject for a radio segment now appearing on American Airlines in-flight entertainment.
Listen to Audio (Under “Enterprise Report.”)

Six Selected to be Inducted into University of Texas Alumni Elite by Texas Exes
The Texas Exes announced the 2007 University of Texas Distinguished Alumnus Award recipients. Of the six chosen, three are business school alumni: Ambassador Tony Garza, BBA ’80 is the U.S. ambassador to Mexico and the former chairman of the Texas Railroad Commission; Mark McLaughlin, BBA ’52, is a successful rancher, banker and attorney in the San Angelo area; and Charles Tate, BBA ’68, is the chairman and founder of Capital Royalty, L.P., a private equity firm in Houston targeting investments in the health care industry, and is also a member of the McCombs School of Business Hall of Fame. The six recipients will be honored at a presentation in Austin on Sept. 28, 2007.

National Geographic CEO Says Mission is Bringing World to Readers
As CEO of the National Geographic Society, John Fahey says the mission behind his organization is not necessarily driving circulation rates up but promoting geographic knowledge and conversation about the world’s cultural, historic and natural resources. “Ultimately, we are not in the magazine business,” Fahey said at his April 5 VIP Distinguished Speaker Series talk. “We are in the business of bringing the world to people.”
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In the News: Texas Fights Accounting Rules to Disclose Future Retiree Benefit
Associated Press, April 6, 2007
Proposed legislation in Texas seeks to block new national accounting rules that require state and local governments to disclose for the first time the projected costs of future retiree health care and other benefits. State lawmakers arguing that the measurement methods for these debts are flawed seem to be forgetting that financial statements are littered with estimated numbers, said Michael Granof, accounting professor at McCombs. “Just because sometimes an estimate for liability might be $80 million and another time it could be $90 million, both are a lot closer to the actual value than zero, which is how much the state officials would like reported,” Granof said.
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Students Win $25,000 at Oak Ridge National Labs Competition
A team from The University of Texas at Austin won $25,000 at the Nano Idea to Product competition held at Oak Ridge National Laboratory April 2-4. The business contest brought together 15 teams from 12 universities to pitch nanotechnology-based products and business concepts to a panel of judges from industry, academia and venture capital firms. The team’s winning concept is an intelligent, nano-sized drug-delivery device, known as NANOTaxi, which can target tumor cells and release an FDA-approved drug only in the presence of a cancer-specific enzyme. Formed in a class at the McCombs School of Business, the team includes Nicholas Rojeski, MBA ’07, and three others from UT Austin—two students from engineering and one from physics. “While we are a seed-stage company, the NANOTaxi could potentially improve cancer treatment as we know it,” said Rojeski.

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