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Albers School of Business and Economics

Dean’s Blog

Venture Capitalist Out to Beat Economic Inequality

Posted by Joseph Phillips on November 8, 2017 at 5:11 PM PST

 

 

Venture capitalist, entrepreneur, and social activist Nick Hanauer joined the Albers Executive Speaker Series on November 7th to speak on economic inequality and its effect on the social fabric of the US.  He argued that inequality is polarizing our society and too many are being left behind.

Hanauer is a widely admired entrepreneur and investor. He is a co-founder and partner in the Seattle-based venture capital firm, Second Avenue Partners. In 2015, he also founded Civic Ventures, an organization pursuing significant social change, and has been involved in initiatives on gun control, the minimum wage law, and homelessness.

Hanauer has managed, founded or financed over 30 companies, including companies like Amazon, Aquantive, Insitu, and Marchex.  With those bona fides, he argued, he knows just as much about capitalism as anyone else.  Hard to argue with that!

What has led to this precarious state of affairs?  Hanauer argues it is not due to forces such as globalization or changes in technology, but rather comes from our unthinking acceptance of Trickle Down Economics.  He has reprised this characterization of Reaganomics to apply it to contemporary thinking.  Trickle Down Economics includes tax cuts for the wealthy, economic deregulation, and what he terms “wage suppression.”  Wage suppression is founded on the claim that higher wages kills jobs.

Hanauer repeatedly asserted that higher wages will not result in reduced employment, but rather will increase jobs by generating the buying power to increase consumption and spur business activity.  He identified a significantly increased minimum wage law, such as $15/hour, as a sure fire remedy to the inequality problem.

Not everyone agrees with Hanauer on that point, of course, including me, but he is right to a point.  Yet there is some level at which a higher minimum wage becomes counterproductive as the unintended consequences kick in and employment opportunities fall and prices increase.

Everyone knows that the City of Seattle is running a huge experiment with its minimum wage law by boosting the minimum wage significantly – it is supposed to reach $18/hour for some employers by 2025.  Economists are studying the phenomenon to learn more about the impact of such laws.  There are competing studies coming to different conclusions about the early data, but ultimately this will get sorted out.  Data on the full effects of the law will become available.  The profession will review the studies and come to a consensus on the best methodologies and the soundest conclusions.  Of course, Hanauer does not want to wait for that.  He is advocating for minimum wage hikes nationwide now.  No surprise there – he is an evangelist, not an economist. :}

In the follow up Q&A, Hanauer was asked how he navigates between his two worlds of investors-entrepreneurs-the Chamber of Commerce and activists-unions-philanthropists.  He said he does not try to appeal to people on the edges, but looks to find a super-majority in the middle of reasonable people.  He cited the $15/hour movement as an example.  Of course, you can count on the social justice crowd to be in favor, but you also have to rally a sizable group in the middle with the argument that a higher minimum wage creates the buying power necessary for economic growth.

When asked what concerned people should be doing about inequality, he said the most important thing to do was to resist the “raising wages kills jobs” argument.  Higher wages do not kill jobs, they create them.  His idea is to shame people into not making this argument and make it the equivalent of uttering a racial slur.

He was asked what role social enterprise might play in fighting economic inequality.  He started his answer by saying we need a new measure of economic prosperity.  GDP and similar measures have a number of flaws, including an inability to consider issues of environmental sustainability.  We need a new measure that takes into account the problems that are solved, such as unemployment or low wages.  Measured in this way, social enterprise has an important role to play because it is always geared around solving a social problem.

When asked about his view of the impact of trade on wages, he said that free trade had a disastrous impact on some communities.  He said he had recently attended a conference organized by the Institute of New Economic Thinking, and found that many economists were rethinking their neo-classical views on trade policy.  He may be overstating that rethinking, but certainly even neo-classical models would not give a gold star to trade with China since so many model assumptions are violated by China’s interventionist policies on imports and exports.  And of course traditional free trade models have always punted when it comes to the distribution of the benefits of trade, knowing they would be skewed and that redistributionist policies would be needed (but never really executed).

One questioner wanted to know about the impact of the next recession (and it is coming at some point) on workers benefiting from a $15/hour minimum wage.  Won’t a recession trigger an increase in savings, a decrease in demand, and a decrease in jobs?  Hanauer noted that what is different about today is the “super abundance” of capital – there are a lot of places for business to borrow (and he could add that may not be unrelated to the unequal distribution of wealth), so there should be no credit shortage in the next recession.  Well, maybe, but lenders could impose higher lending standards and capital could be cut off that way, as occurred in the Great Recession.    He also noted that high wage/low inequality nations (read Scandinavian economies) are more resilient in a recession than other economies.

The final question asked what he saw as the difference between a good people manager and a good leader.  He responded that a leader has vision.  He or she has a clear, bold idea and they are able to energize and motivate a group around that vision.  Being a good manager does make one a good leader, and vice versa.

As an economist, I squirm at the sweeping statements Hanauer makes about the minimum wage and trade policy.  But there is no denying that economic inequality has become a serious issue for us and we need to do more than talk about it.  Maybe he has decided this is the best way to get us to take action on this critical problem.  In any event, he is a stimulating and provocative speaker who we were happy to have on our campus!

 

 

 

 

 

DACA

Posted by Joseph Phillips on October 20, 2017 at 1:10 PM PDT

 

Many of our students are concerned about DACA (Deferred Action for Childhood Arrivals), either because it affects them directly or because they know someone who is affected.  Our President, Fr. Steve Sundborg, has addressed the issue, as have other campus leaders, and I want to add my voice to theirs.

I do not support the rescinding of DACA and am very hopeful that legislation will be approved between now and March to reinstate the program.  Unfortunately, there are no guarantees this will happen.  The university has made it clear we will support them in every way we can.   We have also made it clear that should ICE agents visit campus, we will do everything we can do within the law to protect the rights of students.  I do not expect such visits to take place, but I cannot guarantee that.

DACA isn’t the only issue out there.  What about Charlottesville?  Charlottesville is a nightmare.  Who can imagine that in 2017 White Supremacists feel emboldened enough to have a public demonstration of any kind?  And that they then are bold enough to return to the scene again and again?  And that all our elected officials are not lining up to condemn these displays in no uncertain terms?  I am very concerned with Charlottesville and its aftermath.

How about NFL football players, starting with Colin Kaepernick, using the National Anthem to make a statement about racism in our society?  I support that.  Players have the right to do that and I would be disappointed in them if they stopped doing that before they think their message has been heard.  That is not disrespect for the flag, for the military, or the nation.  It is about seizing an opportunity to voice frustration with our failure to make progress on racial injustice.  Things are not getting better, they are getting worse, and I am very troubled by the efforts to silence these players.

DACA, Charlottesville, Racism in America – all are difficult issues for all of us.  If you are a student troubled by these, you should know you are not alone in your concern!  They concern me, too!

Nobel Prize Winner Advocates for Social Business

Posted by Joseph Phillips on October 13, 2017 at 10:10 AM PDT

 

 

 

Nobel Peace Prize recipient Muhammad Yunus spoke at Seattle University on October 12th about his latest book, A World of Three Zeros, The New Economics of Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions.

The Bangladesh-based creator of microfinance has long argued that the capitalist system is imperfect and can be fixed to yield better lives for the poor.  As Dr. Yunus said last night, we have a system where, “the more you have, the more you get,” referencing the enormous inequality of income and wealth that results from unrestrained capitalism.  The solution is to get more resources into the hands of the poor, giving them more opportunity.

Born in the seaport city of Chittagong, Dr. Yunus studied at Dhaka University in Bangladesh, then received a Fulbright scholarship to study economics at Vanderbilt University where he received a Ph.D. in economics.  In 1972, he returned to Bangladesh to head up the economics department at Chittagong University.

Starting with Dr. Yunus' personal loan of small amounts of money to destitute basket weavers in Bangladesh in the mid-70s, grew micro-lending and the Grameen Bank.  From the Grameen Bank has emerged the Yunus Center and the Grameen family of businesses, which advance social business and poverty elimination around the world.

During his interview, Yunus explained the success of micro-lending -- giving poor women a loan to launch a sustainable income generating activity, expecting them to pay back the loan so the funds can be made available to someone else, using groups to hold people accountable, and keeping it simple with minimal documentation, bureaucracy, and legal oversight.

In A World of Three Zeros, Yunus is pushing the social business concept.  This is an organization dedicated to creating employment by offering a needed good or service while not generating profits for shareholders.  A social business starts with a capital injection from donors or investors.  Once the social business is beyond breaking even, it then returns that capital injection to the investors, but only the original amount – there is no interest or dividend.  The investor is then free to provide funding to another social business.  Meanwhile, any surplus generated by the social business gets plowed back into the organization’s activities.

It is important to realize that Yunus is not advocating for the abandonment of capitalism.  After all, it is capitalism that generates the wealth that allows investors and donors to provide the start-up funds for social businesses!  However, he is saying we need to abandon our belief that human nature is all about being selfish!

Interviewer Dave Ross, a local radio personality, was skeptical of the model, wondering why investors would provide capital if there was no return.  Yunus reminded him of the significant charitable giving that takes place around the world, and that people are both selfish and selfless, and this model appeals to the selfless side of human nature.  A World of Three Zeros provides many examples of successful social businesses, so he must be on to something!

Ross noted that Seattle University was the first university to host a Tent City for the homeless, and asked what he would recommend the university do to solve the problem of homelessness.  He responded with what I will call the “Yunus Challenge!”  He said we should organize a Design Competition for our students, with the challenge being to create a social business to solve homelessness.  We need to respond to the challenge!

During the interview, Yunus did not have a chance to address the “third zero” – Zero Net Carbon Emissions.  But in the book, he takes up the issue of global warming and how the consequences of global warming will put a greater burden on the poor – those least able to absorb it.  He notes that since social businesses are not focused on profitability, they will have more degrees of freedom to produce goods and services in a more planet-friendly way.

It was an honor to be able to introduce Dr. Yunus to the audience.  After all, when is the last time I introduced a Nobel Prize winner?  Back in the day, I taught the International Economic Development course at Creighton University.  I remember discussing in class micro-lending and Dr. Yunus before the topic was in the economic development textbooks, so he is someone I have admired for a long time!

Seattle University was honored to host Muhammad Yunus on our campus and to learn how social businesses can help create a more inclusive economic system, one that provides more opportunity to all members of society!

 

MOD Pizza: Culture Creates Purpose

Posted by Joseph Phillips on October 12, 2017 at 11:10 AM PDT

 

When Ally and Scott Svenson started MOD Pizza in 2008, they wanted to create an organization with a distinctive people-first culture that met a market need – fast-casual family-friendly food that happened to be pizza.  Today, MOD has 265 stores across 24 states and the UK, employing over 5500 “Mod Squaders.”  The brand has been named the fastest growing restaurant chain in the US for the last two years, and recently landed in the #2 spot on the Puget Sound Business Journal’s “Fastest Growing Private Companies” list. On October 11th, the Svenson’s joined the Albers Executive Speaker Series to explain their journey in progress with MOD pizza.   They are the first husband-wife team to participate in the Speaker Series, now in its 16th year! :}

The Svenson’s are serial entrepreneurs, recently being named the EY Entrepreneurs of the Year in the Pacific Northwest. The couple co-founded Seattle Coffee Company in London in 1994, and in 1998 sold it to Starbucks as their entry into the European market. Scott remained on as President of Starbucks UK, and subsequently President of Starbucks Europe, while Ally helped to oversee the transition of the Seattle Coffee Company stores to Starbucks branded stores.  While in the UK, the couple were also instrumental in growing Carluccio’s Ltd, a London based operator of Italian deli/cafes.

In 2001, the Svenson’s returned to their hometown of Seattle to raise their family.  Their entrepreneurial spirit again kicked in, and they began exploring ideas that combined their passion for business, people and purpose.  The first MOD opened in downtown Seattle, and the pioneer of fast casual pizza known for its individual artisan-style pizzas and salads and people-first culture was off and running.

More recently, MOD has become known for the purpose part of the business – hiring “second-chance” employees who experienced difficult times due to addictions, mental illness, or prison – people who few employers want to provide opportunity to.  The Svenson’s knew they wanted to have a business with a cause beyond earning profits, but did not start MOD with the goal of providing opportunity to at-risk individuals. Instead, that distinctive mission emerged from the people-first culture they created at MOD.

As they tell it, at the “five store mark,” they were still searching for a successful concept, with some stores doing OK financially and some struggling.  What was working was the culture.  The second-chance employees they had hired were doing well and were grateful for the MOD opportunity.  They were using MOD as a platform to change their lives.   Seeing this, the Svenson’s now knew what the purpose of MOD would be – instead of writing people off from the workplace like most of society was doing, they decided they would intentionally hire at-risk employees and give them a chance to reclaim meaning and purpose in their lives.  The MOD culture created the MOD mission.

They had a “dining room table” conversation about whether MOD could scale and whether they should try to expand the business.  It would have been easy enough to keep things simple, manageable – and small.  It was their second-chance employees who convinced them to go big.  They wanted others in similar circumstances to have the same opportunity for change that they had.  Now MOD is on a mission to spread this opportunity both nationally and internationally!

The Svenson’s noted that having a strong people-first culture and a purpose of hiring those who others would pass over is not just the right thing to do.  It also makes sense from a business standpoint.  It can give you a sustainable competitive advantage.  It will be something that is very difficult to replicate.  In the long run it will increase productivity because you will have engaged, experienced employees.  It will also build customer loyalty and connection.  Today, more and more consumers are drawn to brands that are about more than profits.  That promise of sustained competitive advantage has helped MOD raise $150 million from investors.  The Swenson’s said they cannot prove it is a winning formula – yet – but they believe it!

Ally and Scott shared their initial reluctance to promote the MOD purpose of hiring at-risk employees.  They were afraid it would come off as self-serving and insincere.  It was their second-chance employees who convinced them otherwise.  A TV station had gotten wind of the hiring strategy of MOD and wanted to do interviews on it to put together a story.  Those employees jumped at the opportunity to tell the MOD story.  They were proud of their accomplishments and wanted to give hope to others in similar circumstances.  That convinced the Svenson’s that it was OK to be more public about the MOD purpose.

What is next for MOD besides expansion across the globe?  They are working on a community store concept – something that has positive impact and will be “about and for” the neighborhood it serves.  Some of the initial thinking is being done with Seattle University’s Center for Community Engagement and the Entrepreneurship and Innovation Center in the Albers School, looking at the Yesler Terrace neighborhood near the SU campus.  It will be a facility that provides opportunity, training and feeds people, but does not duplicate services already available.  It is a work in progress but something that MOD is very serious about.

Scott and Ally Svenson have created a distinctive business with a strong people-first culture and a mission to provide opportunity to those who frequently are without one.  MOD Pizza is an inspiring story for all who know that business is a mechanism for social good and not just earning profits.  It is a belief they are turning into reality, thanks to a culture that creates purpose.

 

 

 

Meeting Mother Teresa

Posted by Joseph Phillips on September 29, 2017 at 12:09 PM PDT

 

At Seattle University’s Mass of the Holy Spirit on September 28th, Fr. Steve Sundborg, SJ, President of SU, reminded us that this month is the twentieth anniversary of Mother Teresa’s death.  I had the opportunity to meet Mother Teresa in December, 1996, which was just a few months before she passed away.

It was in Calcutta at her Missionaries of Charity center there.  I was travelling with a group of Creighton University graduate students doing a study tour of India.  I had co-sponsored the trip with my colleague, Dr. Vasant Raval, who is still a member of the Creighton accounting faculty today.  Calcutta was our first stop on the tour.  Mind you, in 1996 there were not many Americans visiting Calcutta as tourists, and the city had long surpassed what its infrastructure could support.  It was very different than Omaha, Nebraska!

We had heard that sometimes Mother Teresa would show up for the 6:00 AM mass in the chapel at the center.  So, we all got up early in the morning to make the mass.  Initially, she was not there, but not too long into the mass she slipped into the back and sat next to one of our students!

After the mass, she was happy to meet with us briefly, and invited us back the next day.  When we returned, we had our own audience with Mother Teresa.  She was short in stature, but as you might imagine, had a very powerful personality.  She was very intense and very committed to the importance of her work.  Of course she took the opportunity to remind us of the need for support of the mission of the Missionaries of Charity and we were happy to oblige with some modest financial contributions!

At one point in our conversation she produced a box that had medals with the image of St. Mary on them.  She looked me in the eye and said that these were miraculous medals that she wanted to give to our group.  Then she took a handful out of the box and placed them in my hand, instructing me to distribute to the group, which I dutifully did! 

Over the years I have given a few of these medals to people experiencing illness, and in each case their condition improved notably and they lived longer than expected.  I really do believe they are miraculous!

Sometimes you get asked questions such as, “who is the most famous person you have ever met?” or “who is the most impressive person you have ever met?”  I have an easy answer for those questions!  Looking back, it was such a privilege to have met Mother Teresa.  It seemed important at the time, but is even more important today.  It is not uncommon for a priest such as Father Sundborg to refer to Mother Teresa in his homily.  Each time that happens I am probably the only person in the church who can say that he actually met her!

By the way, in the picture above, you can see the box of medals in Mother Teresa's hands!  Can you spot me in the picture??

A Lesson From Totality

Posted by Joseph Phillips on August 28, 2017 at 7:08 AM PDT

 

I learned a valuable lesson from Totality.  Along with many others, I headed to Oregon on August 21st to observe the full eclipse that went streaking across the US that day.  Skies were crystal clear in the Willamette Valley, perfect for viewing the eclipse.  As the moon gradually edged in front of the sun, it began to grow darker and colder.  Soon there was just a sliver of orange peaking around the moon, and then -- there was totality!  The sun was a dark blue globe surrounded by a shimmering white border that streaked out in different directions.  It was amazing!

And what it taught me was the difference that 1% can make.  Going from 99% blockage to 100% changed everything.   Totality looks nothing like 99% -- or 95% or 90% for that matter.  That last 1% makes all the difference.

As an economist, I am always analyzing things at the margin.  I am always doing the cost-benefit analysis.  I am always measuring the marginal benefit against the marginal cost.

It doesn't work with a full eclipse.  It is the last one percent that provides the most gain, not the first one or ten or twenty percent, as we might normally presume.  There is supposed to be declining marginal utility to any activity -- not true when it comes to the full eclipse!

We are often told to give 100% of ourselves to whatever we do, or better yet 110%!  An economist would listen to that and wonder whether 95% or 99% would do, since the last bit of effort will be subject to diminishing returns.  But that could be a mistake! What if that last 1% of effort makes all the difference, just like in a full eclipse?  What if going that extra mile really is the difference between a huge success and a mediocre result or even a failure?

I am changing the way I am looking at things.  Efficiency is important, but I can't always assume that the last one percent of effort will yield only minor benefits.  The payoff could be huge, just like it is in Totality!

23rd Annual IAJBS World Forum

Posted by Joseph Phillips on July 26, 2017 at 8:07 AM PDT

The 23rd Annual International Association of Jesuit Business Schools (IAJBS) World Forum took place in Namur, Belgium from July 16-18.  Including myself, there were six attendees from Albers and one faculty member from the School of New and Continuing Studies. The event brought together 130 faculty from 19 different countries, 5 different continents, and 50 different universities and institutes.  The 24th World Forum will take place at Seattle University, July 22-25, 2018!  Mark your calendars!  We are looking forward to hosting!

Our faculty managed to deliver five papers at the conference, despite being sidetracked by a beer tasting river cruise and dinner in a castle!  The cruise featured the five different beers brewed by the monks who run the Chimay brewery.  Chimay Blue was the clear favorite for the Albers crowd and the other conference participants.

Namur is at the junction of two rivers, the Meuse and Sambre, and since this made it a strategic location back in the middle ages, naturally there is a big castle, the Citadel, looming over the river junction.  While the Citadel looks formidable, over its history it was under siege 21 times and each time the castle fell. Zero for 21 is not good in any sport!

The University of Namur was the host institution for the conference, and it happens to be the only Jesuit university in Europe outside of Spain.  Namur is a town of about 110,000 in the French speaking part of Belgium (Wallonia), and while not high on the list of places to see in Belgium, it is actually a spot worth visiting if you have the opportunity.  Besides the castle, it has a very walkable downtown core with many narrow streets free of automobile traffic, exactly what a tourist hopes to find in a European town!  I really do not understand why Rick Steves does not cover it in his guide for Belgium!

The IAJBS is an organization that brings together the deans of Jesuit business schools around the world.  Our board has members from the US, Latin America, Europe, India and Asia.  The main activity of IAJBS is to organize the annual World Forum that brings faculty and administrators together from a variety of Jesuit institutions around the globe.  These gatherings facilitate collaboration between the business schools, whether that is joint programs (the University of San Francisco, IQS in Barcelona, and Fu Jen in Taiwan jointly deliver a master’s degree program), faculty collaboration in research, sponsorship of the Journal of Management for Global Sustainability, or sharing best practices in Jesuit business education.

Every four years, IAJBS is joined at the World Forum by Colleagues in Jesuit Business Education (CJBE), which is a group of US Jesuit business school faculty who collaborate and share around the delivery of Jesuit business education. CJBE will be joining us in Seattle for its Twentieth Annual Conference next year.  Ironically, CJBE was founded in 1998 and its first conference was held at Seattle University!  They have not been back since, but we are happy to have them in 2018!  To mark the occasion, we are welcoming Fr. Bob Spitzer, SJ, to give a keynote address.  Fr. Spitzer, former president of Gonzaga, was instrumental in the founding of CJBE while a faculty member at SU!

Fr. Michael Garanzini, SJ, Secretary for Higher Education for the Jesuits, was at the World Forum, and delivered a keynote address about his plans to establish the International Association of Jesuit Universities (IAJU), indicating that he saw IAJBS as model for organizing other Jesuit activities in higher education on a global basis.  He will be convening a meeting in July, 2018 of Jesuit university presidents from around the world to launch this initiative.

The 23rd Annual World Forum was another successful event for IAJBS.  Now it falls to us to host a successful 24th Annual IAJBS World Forum in Seattle in 2018!

Summer Business Institute Marks 15th Year

Posted by Joseph Phillips on July 6, 2017 at 3:07 PM PDT

June 24-29 we hosted the 15th Annual Summer Business Institute, bringing thirty-five sophomores and juniors from 19 different Puget Sound area high schools to the SU campus.  SBI seeks to inspire under-represented students to pursue a college education, including the possibility of studying business, of course!

SBI offers the students the opportunity to explore various aspects of university life.  This includes living in college dorms for the duration of program, attending business classes taught by Albers professors, visiting sponsoring company headquarters, participating in a team business plan competition, and workshops on the college admission process, college financial aid, and financial literacy.

One of the most important parts of the program is the Albers students who serve as counselors.  These students serve as inspirational role models for the high school students.  This year we had another great group of counselors – Joe Maisterra (junior Marketing major), Max Napadiy (senior Managemenet and Marketing major), Maria Medina (Master of Professional Accounting student), Catherine Sepulveda (junior Management major), Haneia Simpson (junior International Business major), and Samone Washington (business sophomore).  At the closing luncheon, they all made wonderful closing remarks to the students and their families and friends.  You could tell how our students had such a positive influence on the high school students and I was so proud of them!

 

SBI Closing Luncheon and Awards Ceremony

 

One of the changes we have made over the years is to follow up with students after they complete the summer program and invite them back to campus for activities that will assist in the college application process.  This includes a Personal Statement Workshop and a Scholarship/FAFSA Workshop.  These students often are the first students in their families to attend college, so they have no one guiding them on the process at home, and at some schools college counselling services have been cut back significantly.  Knowing how the college application process works can really make a difference in determining one’s success in pursuing a college degree.

Several companies in the Seattle region recognize the power of this program and how it contributes to creating a diverse work force, and they support the program with their financial contributions.  Many thanks to this year’s sponsors – The Boeing Company, Wells Fargo, and Washington Federal.

Albers alum Duron Jones is the program director, and he works with our Director of Marketing and Communications, Barb Hauke, to organize the program.  They do a terrific job every year of putting together an incredible program for these students!

Graduation 2017

Posted by Joseph Phillips on June 12, 2017 at 4:06 PM PDT

 

 

Seattle University’s 2017 Commencement took place on June 11th at Key Arena.  More than 2,000 students received their diplomas that day, including 333 undergraduate students and 305 graduate students from the Albers School!

Several Albers students received awards at the university level.  Maddy Lynch, business economics student, was one of four students to receive the President’s Award, presented to the undergraduate student(s) with the highest GPA.  Gus Orlando, graduating from our Master of Professional Accounting program, received the Provost’s Award, presented to the graduate student with the highest GPA.  We are proud of both of them and here is my view of the award presentation to Gus:

 

Maddy also received the Paul Volpe Award, which goes to the Albers undergrad with the highest GPA, and Gus was one of three students to receive the Jerry Viscione Award, presented to the Albers grad student(s) with the highest GPA.  The other Viscione recipients were Miranda Brown and Dara Sadri.

Two Albers faculty and staff members received graduate degrees.  Amelia Marckworth, program coordinator in the Innovation and Entrepreneurship Center, received her Master in Non-profit Leadership degree.  Nathan Colaner, Instructor in Business Ethics, received his Professional MBA degree.  Congratulations to Nathan and Amelia!

Another highlight was the first group of graduates from our MS in Business Analytics program!  Seven students were among the 305 graduate students receiving degrees.

Writer Sherman Alexie was the speaker at the undergraduate ceremony.  I especially appreciated his recognition of our international students and thanking them for completing their studies in the US.  He also reminded graduates how privileged they are to receive a degree from a school like SU and challenged them to make the most of the opportunities that presents to them. 

Maggy Barankitse, a humanitarian from Burundi and previous recipient of the Opus Prize when it was awarded at SU, was the commencement speaker in the graduate ceremony.  She talked about her work in an environment of ethnic strife and challenged graduates to be as “crazy” as she is when it comes to addressing societal problems.

Graduation Day in Seattle University’s 125th anniversary year was a great celebration.  Congratulations to all our graduates!  We expect great things from you as leaders pursuing a just and humane world!

45th Annual Accounting Awards Banquet

Posted by Joseph Phillips on June 5, 2017 at 4:06 PM PDT

 

 

The 45th Annual Accounting Awards Banquet took place on June 2nd.  Twenty-six different scholarships and awards were given to 39 accounting students that evening!  Some of the highlights included the Outstanding Senior Award going to Trey Takara and Daniel Verburg (first time we could not narrow it down to one person!), Gus Orlando winning the Outstanding Master of Professional Accounting degree Award, and Mr. Verburg winning the Beta Alpha Psi Outstanding Leader Award.

I am so impressed that the Department of Accounting has been able to carry on this tradition for 45 years!  That means all the students and some of the faculty were not even born when this event started! :}  Nearly 100 were in attendance this year!

This year the event was facilitated by four generous sponsors – Clark Nuber, Deloitte, EY, and Weyerhaeuser!  Many accounting professionals and mentors in our Accounting Mentor Program were in attendance.

Dennis Applegate, an adjunct instructor in the department and member of the Internal Audit Program Advisory Board, received the Chair’s Award for outstanding service to the department.

Sarah Bee is stepping down as faculty advisor for Beta Alpha Psi, the accounting honor society.   BAP President, Daniel Verburg, gave an excellent tribute to Sarah outlining her success as the advisor to this very active student organization.

Congratulations to the Department of Accounting on their 45th successful awards banquet!