Orono, Maine • Fall 2013 • Volume 6, Issue 1

Maine Business School umaine.edu/business

MBSConnects

Mike Kessock

MBS Alumnus andRestaurateur Mike KessockOwns and OperatesSchooners on thePenobscot River in Brewer

M aine Business School graduate MikeKessock ’66, ’73 (MBA), arestaurateur in the south Caribbeanfor more than 30 years, is putting his businessexpertise to use right here in Maine. He isowner and operator of Schooners Seafood andSteakhouse on the banks of the Penobscot Riverin Brewer.

Serving fresh, delicious and reasonablypriced food to locals and vacationers alike,Kessock says he is happy to be back in Mainecontributing to the state’s solid small businesseconomy.

“I get a real personal satisfaction workingwith the young people who are my employeesand I feel lucky to have this wonderful spotwith a lovely river view,” says Kessock, whoowned and operated McDonald’s restaurantsand full-service Tex-Mex restaurants in Curacaoand Aruba. About a dozen years ago, figuring itwas time to retire, he sold the restaurants andwith his wife, Sharine, returned to Maine wherehe grew up. The couple have four children andthree grandchildren.

“Retirement wasn’t all it was cracked up tobe, at least for me,” Kessock says. “After eight ornine years I got bored. The restaurant becameavailable and I liked that it was only three miles

continued on page 5

MBS students travel to

Brazil and Swedenstory page 3

MBS graduate students learn from and enjoy their International Field Study class trips toBrazil and Sweden. In Brazil they traverse the Rio Negro, a tributary of the Amazon River. InSweden they visit the global headquarters of H & M, the popular multinational retail-clothing company founded in 1947 by the Swedish-born Erling Persson.

2 Maine Business School

MBSFaculty

M aine Business School alumnus GerardCassidy ’80, managing director andhead of U.S. Bank Equity Strategy atRBC Capital Markets in Portland, Maine,achieved notoriety for creating a way to measurethe severity of credit problems for banks.

He came up with what he coined the ‘TexasRatio’ in the late 1980s just after the collapse ofthat state’s economy which led to numerous bankfailures. The numbers are calculated by takingthe amount of a bank’s nonperforming assetsincluding those 90 days delinquent, divided bythe tangible equity capital plus the loan lossreserves.

“If it exceeds 100 percent, the probability ofbank failure is very high,” said Cassidy, whoapplied the ratio to the bank problems in NewEngland in the early ’90s.

Cassidy, who earned a dual degree inaccounting and finance at MBS, spoke tobusiness students last spring during Finance

Professor Rick Borgman’s Management ofFinancial Institutions class. He told them that hisMBS degree “guided me into the business world,opened up doors and gave me the educationalfoundation and confidence to apply for — andget — jobs. I wouldn’t have ended up where I amtoday without my business degree. MBS willteach you your knowledge base and your job willteach you what the work is all about.”

The Texas Ratio “was put on the back burnerbetween 1994–2007 because the U.S. economywas strong,” said Cassidy, a native of LongIsland, N.Y.

“But during the most recent financial crisis in2008 we brought it back out when everyone wastrying to determine the health of the bankingsystem. It became very popular because it’smultifaceted, easy to understand and has a catchyname. What really put it back in the spotlightwas a company called IndyMac Bancorp whichdisputed the accuracy of the ratio after it was

used to determine that the bank had the mostpotential to fail. A week later IndyMac actuallydid fail.”

Cassidy often is asked to speak and writeabout the Texas Ratio which is hailed as one ofthe best indicators of a bank’s health in the WallStreet Journal’s Guide to the 50 EconomicIndicators That Really Matter by Simon Constableand Robert E. Wright. He has been quoted aboutthe banking industry in the Wall Street Journal,New York Times, Forbes, Business Week, TheAmerican Banker and other newspapers andperiodicals, and has been on CNBC, CNN,NBC, BNN, National Public Radio and otherbroadcasts to discuss banking and economicissues.

He earned an MBA from St. John’s Universityin New York in 1984.

What was your career path after graduatingfrom MBS?I began my professional career as an equityresearch associate at Prescott, Ball and Turben,covering the apparel, chemical and retailindustries. After two years I joined Gulf andWestern Industries as a merger and acquisitionsanalyst. From there I took a position as bankresearch analyst with Union Mutual, nowUNUM Provident Corporation. In 1988 Ibecame a bank equity analyst with TuckerAnthony, Inc., which was acquired by the RoyalBank of Canada in 2001. I assumed my currentposition in 2001 and am responsible forproviding bank equity and economic research toclients.

continued on page 6

MBS Graduate GerardCassidy ’80 Created ‘TexasRatio’ to GaugeProbability of Bank Failure

Manev AppointedMaine Business School Dean

Ivan Manev has been named dean of the Maine Business School, effective July 1. Dr. Ivan Manev hasserved as interim dean since 2010 and has been a member of the UMaine faculty since 1997.

“As interim dean of the Maine Business School for the past three years, Dr. Manev has demonstratedoutstanding leadership and achievement,” said Susan Hunter, chancellor for academic affairs. “He hascompiled a record of successful administrative experience at increasing levels of responsibility, having served asassociate dean of the Business School for two years prior to being named interim dean. In recognition of hisproductivity as a faculty member and scholar, Dr. Manev will continue to hold the Nicolas M. SalgoProfessorship of Business Administration.”

UMaine President Paul Ferguson commented, “Dr. Manev has been an especially effective leader of theMaine Business School and has been an extraordinary partner in implementation of the Blue Sky Plan, bothfrom a campuswide perspective, but also in promoting strategic Maine Business School initiatives in alignment

with the Blue Sky Plan.”Dr. Manev, who received a Ph.D. in management and organization studies from Boston College in 1997, is a professor of management and has held

the Maine Business School’s Salgo professorship since 2006. He served as associate dean from 2008–10, and has been a member of the board of trusteesof the American University in Bulgaria since last year.

His research focuses on international business and entrepreneurship, including management in the transitional economies of Central and EasternEurope, Russia and China. n

Ivan Manev

Gerard Cassidy

University of Maine 3

MBSConnects is published by the College of Business, Public Policy and HealthIvan Manev, Dean

Written and edited by Ruth-Ellen Cohen • 207.581.1968Students, faculty and alumni are encouraged to submit information.

Layout and design by Val Ireland, Division of Marketing and CommunicationsPrinted by University of Maine Printing Services.

From the Dean

Dear friends,

Since fall signals the time for new beginnings,we thought September would be the perfecttime to make some changes to MBS Connects.

First, we have given our Maine BusinessSchool newsletter a fresh look. We hope youlike our professional, modern magazine style.In addition, we are happy to announce a newpublishing schedule. From now on you willreceive MBS Connects four times a year —September, December, March and June. Welook forward to connecting with you morefrequently.

One thing that won’t change is ourcommitment to bring you the latest newsabout MBS including what’s going on with ouralumni as well as some of the exciting projectsand initiatives in which our faculty andstudents are involved.

MBS is quickly gaining recognition as oneof the premier business schools both nationallyand internationally. U.S. News & World Reporthas ranked us among the top 200 in thenation, while Eduniversal rated us among the‘excellent’ business schools in a world-wideranking that included only 132 schools fromthe U.S. We are fully accredited by theAssociation to Advance College Schools ofBusiness, a distinction which fewer than6 percent of business schools worldwide haveearned.

As you read this latest issue of MBSConnects, please remember that we need yourhelp if we are to continue on the path ofexcellence and to serve as the center forbusiness education, research and outreach atthe state’s flagship university. Tuition, fees andstate funds no longer cover the entire cost of astudent’s education, so additional support fromloyal alumni and friends like you is morevaluable than ever.

We hope you enjoy our newly styled Fall2013 MBS Connects Newsletter. Please let usknow what’s happening in your life by calling207.581.1968 or sending an email tossteele@maine.edu. We look forward tohearing from you. n

Ivan Manev

Dean

M aine Business School’s graduatestudents ended the year on a highnote, with some travelling toSweden and others to Brazil as part of theInternational Field Study class offered by thebusiness school each year.

Required for MBA students, the tripsinclude presentations and lectures frombusiness representatives, political figures andhistorians, as well as sightseeing and culturalactivities. These travel opportunities are aboutmore than being a tourist; they are rigorousacademic courses with assignments before,during and after the journey.

Participants always have a great time andthis year was no exception. Student travelerssaid they came away with a betterunderstanding and appreciation of the people,cultures, economies, business practices, politicsand histories of the countries they toured.

SWEDEN TRIP

Led by professors Jason Harkins and NiclasErhardt, the eight-day trip to Sweden focusedon raising awareness of business models usedin the country and provided an opportunityfor students to speak to officials and businesspeople to understand how context affectsbusiness. Students visited IF Insurance, amajor property and casualty insurancecompany in the Nordic region; H&M, a

Swedish clothing company which hasexperienced impressive growth over the last 20years; Hitta.se, an online search engine thatoffers a telephone directory, addresses andmaps; and Systembolaget, the Swedish liquormonopoly with an interesting business modelfocusing on excelling in customer service whileworking to discourage buying.

Students toured the capital city ofStockholm and ate pickled herring, smokedsalmon and ice cream with cloudberries, aswell as tunnbrodsrulle, a massive lunch thatconsists of a hot dog, mashed potatoes, shrimpsalad, lettuce, tomato and onions in a tortilla.Their itinerary included visits to Skansen, anopen air museum and zoo, the Vasa maritimemuseum and the Stockholm Royal Palace.They relaxed in a wood fired sauna and took aboat ride through the Riddarfjarden, a bay ofLake Malaren in central Stockholm.

Lawrence Caldwell ’13 (Accounting)“I got a broad perspective on varying business

practices, management strategies, corporatevision and European culture. Learning aboutdifferent methods of management andstrategy from a different perspective added tothe business toolkits that UMaine professorshave been so diligently crafting for us.”

Nick Shaw ’14 (Finance)“The most important take-away was realizing

that the American way isn’t always the best.Looking at how companies in other countriesdo things can bring immense value toAmerican and global companies.”

Derek Bowen ’14 (Management)“The trip not only benefitted us as future

business leaders, but helped prepare me formy summer internship at the InternationalEntrepreneurship Center where I was involvedwith marketing research for a variety ofbusiness models from different countries.”

continued on page 7

MBA Students Learn from and EnjoyTrips to Sweden and Brazil

F or the 13th year, SPIFFY membersattended a student investment fundsymposium with representatives of morethan 100 universities across the U.S. ElevenUMaine undergraduate students attended theannual Quinnipiac Global Asset ManagementEducation (G.A.M.E.) III Forum last April inNew York City where they interacted withfinancial industry leaders, learned best practicesin investment management and met studentsfrom 44 states.

The students also got to spread the wordabout SPIFFY (Student Portfolio InvestmentFund), the Maine Business School’s uniquestudent-run organization which manages $1.9million for the University of Maine Foundation.MBS Finance Professor Bob Strong is facultyadviser for SPIFFY, which celebrates its 20thanniversary this year.

During the three-day G.A.M.E. conference,SPIFFY students listened to keynote panelscomposed of well-known financial experts whodiscussed the global economy, global stockmarkets and corporate governance and provideda perspective on the Federal Reserve. Also at theconference, students attended breakoutdiscussion panels and workshops and got adviceon career opportunities within the financialservices industry.

“Attending the annual G.A.M.E. conferenceis an affirmation of what these students do in theclassroom,” said Professor Strong, who led thetrip. “They realize they understand what theseexperts are talking about and they benefit frommingling with students from other universitieswhich may be bigger but have investment clubswhich are doing the same things SPIFFY is. Our

students also benefit from visiting a largemetropolitan area. We typically have a few whohave never been to a major city and are not sureif they want to live and work there until theyactually see it.”

A highpoint of the trip was the opportunityto tell people how SPIFFY works and how theinvestment club’s money is managed, accordingto Professor Strong, noting that SPIFFY is extra-curricular and open to students from anydiscipline who may participate as much or aslittle as they want. At many other schools, theinvestment club is an actual class where studentsare graded and must take prerequisites beforethey can join.

“We were invited this year, as always, to give apresentation about SPIFFY to a group of judgescomposed of local businesspeople,” he said. “It’s agood exercise for students. They handle thequestions well, make a good appearance and arewell-spoken. The judges were extremelycomplimentary. They are always intrigued thatSPIFFY operates under a different model thanmany other investment clubs.

“Many faculty members at the event areinterested in starting an investment club and areeager to hear how other groups work,” he said. “Igave a presentation along with faculty membersfrom Stanford University, University of NorthernColorado and Florida International Universitywhose programs all operate very differently. Mysuggestion was to be careful of semantics. WhenSPIFFY started, I didn’t ask the University ofMaine Foundation to give us money. I askedmembers to entrust students with themanagement of some of their money. So themoney still belongs to the Foundation — it isn’t

given away. This is a very different kind ofrequest. This information has been very helpfulto other schools as they start their investmentclubs.”

Finance major Zachary Nichols ’14 said heenjoyed learning “how different the outlooks ofthese financial professionals are. It’s a wonderthey all manage to be so successful with suchunique perspectives on market trends!”

Matthew Deschesne ’13, who graduated witha double major in finance and financialeconomics, said he enjoyed hearing about thedifferent fields in finance. “It’s easy to havetunnel vision and assume that most jobs arerelated to investment. I was able to hear frompeople who were writers for Bloomberg. Somehave educational backgrounds in finance inaddition to the traditional English major.”

Luke Finnemore ’13, who earned a degree infinancial economics, said he enjoyed talkingabout SPIFFY’s strategy and operations. “Manyprofessionals and students were impressed bywhat we have accomplished.”

Abby McCloskey ’13, a finance major with aconcentration in international business, said shegained insight into different career paths thanksto the wide variety of finance professionals whowere on hand. “My favorite part was hearingAbby Joseph Cohen, senior partner at GoldmanSachs. I see her as a role model for women in thefinance industry.”

Aaron Pires ’13, who graduated with a degreein economics, said his favorite part of theconference was a session on hedge funds. “It wascool to hear the perspective of someone whoactually works with hedge funds. Now I look atthis aspect of finance in a whole different light.”

Dylan Bousquet-Smith ’14, who is majoringin financial economics, said he enjoyed learningabout “potential investment opportunities andenvironments that will be playing roles in themarkets in the coming years.” n

4 Maine Business School

MBSNews

SPIFFY Members Attend Global AssetManagement Forum in New York City

University of Maine 5

from my home in Brewer. I thought, “this willgive me something to do.”

A devoted alumnus, Kessock is one of themost generous supporters of University of Maineathletics. He provided funding for Kessock Field,home to Maine’s softball team, and KessockSports Medicine Facility, as well as for otherprojects and initiatives.

Why did you choose the University of Maine and,specifically, the Maine Business School?

After graduating from Hampden Academy, Idecided to go to the University of Maine becauseI knew it had a good, solid reputation andappreciated that it was affordable. I started inengineering, but decided it wasn’t for me. In myjunior year I switched to business and reallyenjoyed my classes. After earning a degree infinance, I joined the U.S. Navy where I was apilot for six years. During my last year, I met mywife, a native of Curacao. I noticed there was noMcDonald’s Restaurant on the island, so wedecided to purchase a franchise to fill what wesaw as an obvious niche. Although owning andoperating a restaurant had been low on the list

of things I wanted to do, I liked the idea ofbeing my own boss.

It was clear that it would take a year todevelop the land and build the restaurant, so Idecided to make good use of my time and earnan MBA which I thought would benefit me inmany ways. It turned out I was right. An MBAis one of the most valuable degrees you can have.It’s versatile and it exposes you to all kinds ofsubjects. I chose the Maine Business Schoolbecause I was able to complete my degree in oneyear using my engineering credits. We openedour first McDonald’s in Curacao in 1974 andover the next seven years, opened three morethere and another in Aruba, as well as two full-service Tex-Mex restaurants in Curacao.Although the hours were long, I enjoyed thechallenge of owning and operating therestaurants.

Why did you like the Maine Business School andhow did you use the skills and knowledge youobtained through your business education?

I liked MBS from the start. My professors wereexcellent teachers and the quality of education

was great. McDonald’s has a very sophisticatedcontrol system that helps managers run therestaurants efficiently, but thanks to my businessbackground, I was able to quickly assimilatethese rules and regulations and in some wayseven tweak them. My business foundation alsogave me the tools to analyze the big picture anddeal with personnel.

What would you tell young entrepreneurs abouthow to be successful in business?

Since most people are young when they graduatefrom college and have a high energy level, I’dcertainly advise them to consider starting theirown business. At that stage of your life, youshouldn’t fear risk. Security is sometimesoverrated; you can always address that issue laterin life. You’ll be ‘old’ soon enough. n

Kessock from page 1

C ompetitiveEnergyServicesLLC (CES) ofPortland, Maine,has donated$25,000 over fiveyears to supportthe MaineBusiness School’sMBA Businessand SustainabilityTrack.

The gift willprovide student learning and educationalopportunities through conferences andworkshops, according to Associate Professor ofManagement Terry Porter, who coordinates theBusiness and Sustainability Track.

“We are grateful to CES for this generous giftwhich will greatly expand the opportunities wecan provide for our students,” she said.“Sustainability is becoming a basic part of mostbusinesses and this gift will help prepare the new

generation of business and sustainabilityprofessionals.”

The Business and Sustainability Trackincludes the University of Maine’s chapter of NetImpact, an international organization withactivities for undergraduate and graduatestudents which seeks to inspire, educate andequip individuals to use business to create a moresocially and environmentally sustainable world.

CES President and Chief Operating OfficerJon Sorenson, a 1986 graduate of UMaine, andmember and former chair of the MBS Board ofAdvisors, said, “We want to work with theBusiness School, collaborate with other areas ofthe university to help everyone better understandsustainability and assist the universitycommunity at-large in living a more sustainablelife.

“Our company is active with universities,communities and businesses in managing theircarbon emissions and sustainability efforts. Aninvestment in UMaine puts a great focus on theeducational component that will benefiteveryone. We hope to help with the expansion of

internships, provide real-life work and knowledgeto the Business School, broaden the curriculum,improve campus stakeholder collaboration andprovide a vehicle for the Business School to growand, in time, become a leader in sustainability.We hope our investment and contribution is justa start to something much bigger.”

CES has supported students in sustainabilityin other ways, such as sponsoring undergraduateinternships.

Founded in 2000 by career energyprofessionals, Competitive Energy Services is anindependent energy services company thatadvises institutional, industrial, commercial andnonprofit sectors on the procurement andmanagement of their energy needs and issues.Services include alternative energy projects,cogeneration, carbon management and planning,and sustainability planning, etc. CES now servesmore than 2,500 accounts across North America,including the University of Maine, and managesin excess of $2 billion in energy and utilityspending. n

Competitive Energy Services LLC Provides$25,000 Gift to MBS Business and Sustainability Track

Terry Porter

M aineBusinessSchoolMarketing ProfessorHarold Danieltravelled to Bostonlast summer to talk

with employees from Chadwick Martin Bailey(CMB), one of the 50 largest marketing researchcompanies in the U.S., about DIY (do-it-yourself ) research.

Invited by CMB Vice President JudyMelanson, who has been a frequent speaker at hismarket research classes over the years, ProfessorDaniel said he jumped at the chance to visit withprofessional market researchers.

“This is a terrific way to learn what’s affectingthe industry and how it’s changing and evolving,and then bring all the information back to theclassroom.”

Professor Daniel discussed with CMB theproliferation of special online research survey

tools like Qualtrics, Survey Monkey and LimeSurvey that allow users to create and distributeonline questionnaires and analyze data in realtime without outsourcing to a specializedresearch agency.

“I told employees that this technologyappears to be reshaping the market researchindustry and asked if DIY research has been adisruptive innovation or a complementaryinnovation for them and other marketingresearch companies.”

His question launched an animateddiscussion that went on for more than an hour.

“CMB employees told me that DIY researchis taking business away from them,” he said.“They said it has become common among clientsto use online research survey tools to get inputon simplistic research such as initial productideas, rough concept descriptions, imageassessment, taste tests and tracking and customersatisfaction studies.”

“In the past, clients would use professionalresearch companies to obtain this type ofinformation. Now they are finding it easier,quicker and more affordable to simply do thisresearch internally and rely on professionalcompanies for more complex research that theydon’t think they have the capacity to dothemselves.”

The downside to DIY research is thatcompanies are asking employees with little or noresearch skills to conduct market research. “Thiscan lead to the circulation of poor quality, poorlyconstructed online questionnaires and surveys aswell as misleading findings,” he said.

But the popularity of DIY research may befalling because companies are realizing thatconducting market research isn’t easy. “CMBresearchers said they are hearing from clients whodid it once and decided not to do it againbecause it’s more complicated and timeconsuming than they originally thought.”

Professor Daniel said online market researchsoftware has been an aid to his classes.

“I use it frequently because it’s a terrifictraining tool for students and gives them achance to have a real life marketing researchexperience.” n

6 Maine Business School

MBSNews

MBS Professor Harold Daniel Speaks to Market Researchers atChadwick Martin Bailey

Harold Daniel

What are the rewards and challenges of your job?My reward is coming up with bank stock investment ideas that earn money for our clients. Another plus is getting to travel and meet thousands of ourclients around the globe including portfolio managers and chief executive officers of banks. I enjoy the opportunity to deal with a really broad spectrum ofbank executives, from a little community bank in Bar Harbor to a global powerhouse on Park Avenue. Being able to see both ends of the spectrum is veryrewarding.

Of course the challenge is making money for clients. I have a thesis that a bank is only as good as the economy in which it operates. As a result, we haveto take in many factors in our analysis including how the U.S. economy is doing; i.e. analyzing the direction of the unemployment rate, determining theimpact rising or falling interest rates will have on the economy and calculating the growth in the U.S. housing and manufacturing markets. We also have todetermine when the economy may go into a recession because that will lead to bank losses and decreased stock prices.

Why did you want to speak to an MBS class?I enjoy mentoring younger associates at RBC Capital Markets and teaching them how to do bank investment analysis — deciphering the financialstatements of a bank and determining whether its profitability will rise or fall and then recommending whether to buy or sell its common stock. Visiting aclass at MBS allowed me to share my life and work experiences with students, tell them about career opportunities and show them how what they learn inclass can be applied to the real world. I like interacting with young people. Over the years, I have taught accounting at Andover College in Portland andinvestment analysis at the University of Southern Maine.

What were your most memorable experiences at UMaine?My fondest memory was meeting my wife, Elaine Conley, a special education major at UMaine. My other most memorable experience was taking a classcalled Money and Banking the summer after I graduated. During the spring semester of my senior year I discovered, to my chagrin, that I was a couple ofcredits short to graduate. So, although I participated in the commencement ceremony, I had to return to UMaine that summer to finish up my last credits.The irony was that the course turned out to have been one of the best I took.

What advice would you give to new graduates?Be persistent in pursuing jobs and don’t get disillusioned by rejections. Don’t turn down entry-level positions. They will allow you to get your foot in thedoor and may turn out to be a stepping stone to the job you really want. Be prepared to do ‘grunt work’ — make copies, get coffee. Realize that you’regoing to have to put in your time. But if you work twice as hard as everybody else you’ll get noticed. n

Texas Ratio from page 2

Enjoy and Learn from Tripsfrom page 3

Anna Assenmacher ’13 (Management)“It was interesting to get an inside view and

learn how companies operate daily. Eachcompany had a very different culture. Iunderstand how important it is to make surethat the culture of my job fits who I am.”

David Denton ’13 (Finance)“Our visits to Swedish companies revealed doors

to the business world that I didn’t know existed.I also came to realize that a compellingmanager can create an enticing workenvironment no matter the industry.”

BRAZIL TRIP

Led by Professor Harold Daniel, the 11-day tripto Brazil focused on helping students understandthe strategies by which Brazil and the state ofAmazonas have tried to preserve the AmazonRain Forest and the cultures of the nativepopulations within it, while capitalizing on itsnatural assets. Student travelers learned aboutthe country’s eco-tourism industry, one of theleading global examples of this business model inthe world. They heard from experts how theecotourism industry is financed, how nativemanagers and staff are trained to delivermemorable ecotourist experiences and how theecotourism industry has supported conservationof the area’s natural assets and local culture.

In the bustling city of Manaus, they visitedseveral of the hundreds of internationalbusinesses in the Free Trade Zone, includingMercado Adolpho Lisboa, the largest fresh waterfish market in the world; Harley-Davidson; andthe Coca-Cola extract plant. These businesses,which take advantage of the special taxincentives in this free import and export tradearea, train and hire members of the indigenouscommunity, eliminating the need for them tocut down the rainforest for farmland. Studentsalso visited Suframa, a federal agency thatmanages the Free Trade Zone and parts ofnorthwestern Brazil.

Learning about alternative energy researchand production in Brazil, students toured theFoundation Center for Analysis, Research andTechnological Innovation, which is involvedwith hydroelectric projects, and INPA, a majorBrazilian national research organization which isinvolved in biofuels research. They also visitedthe Sustainable Amazon Foundation, anongovernmental organization that providesindigenous people with alternative incomes toavoid deforestation in the Amazon.

They spent three days in the middle of thejungle, staying at the Uakari Lodge, aninternational icon for ecotourism. The lodge,which floats on the Amazon River, relies on solarenergy and is completely self-sufficient andprofitable. Members of the native populationserve as guides, cooks, managers andmaintenance workers and actually own andprofit from the lodge, as well as from theMamiraua Sustainable Development Reserve onwhich it is located. The travelers enjoyed viewingnative species, eating native Brazilian barbecue,meeting members of indigenous tribes andswimming in the Rio Negro, a tributary of theAmazon River.

Caitlin Clark, (JD/MBA program) MBA ’13;Juris Doctorate ’14“I gained an understanding about the unique

business and environmental struggles theAmazon area faces and how they are handled. Itwas interesting to see the various creative

problem-solving methods which are beingutilized.”

Heather Omand ’14 (Business andSustainability)“I enjoyed learning about the Uakari Lodge. I

think this kind of model could — and should —inform Maine’s relationships with our tribalgroups here. I also learned how important it isto understand the culture and its effects onbusiness.”

Peter Drown ’13 (Finance)“My trip helped me understand the difficulties

emerging economies face when their populationexpands and strains their existing infrastructure.It will be interesting to see whether Brazil iscapable of ensuring that innovation — and notjust manufacturing — occurs.”

David White ’13 (Management andSustainability)“I realized the importance of nonverbal

communication. So much can be read from aperson’s body language and gestures that theneed for accurate verbal communication is notalways necessary. Very few of the Brazilians thatwe met were able to completely convey theirthoughts in English, but this never stopped usfrom fully understanding their message.”

Katie Deegan ’14 (Management)“After learning about the Free Trade Zone, I’m

considering earning another master’s degree inglobal policy focusing on International Trade andCommerce. While Amazonas has a great recordfor preserving 98 percent of the originalrainforest, it still hasn’t been able to balanceconservationism with development. With adegree in International Trade and Commerce, I

University of Maine 7

The UMaine Business Law Center NowLocated at the Maine Business School

T he UMaine Business Law Center has relocated to the Maine Business School at the D.P.Corbett Business Building. The clinic is available to students, staff and faculty fromUMaine as well as to local businesses. Led by faculty member and attorney MarthaBroderick, the center has provided guidance and referral services to students and others overthe last four years in the areas of business formation, contracts, intellectual property protectionand human resource laws. Last year, the center helped students organize their first companiesas LLCs, corporations or partnerships. Many employment contracts and noncompete/nondisclosures also were developed.

This fall, with the help of student interns, the center will also offer walk-in hours andprovide additional areas of service including cyberlaw issues involving journalism, engineeringand new media. As in the past, the center plans to offer free workshops for entrepreneurs ontopics helpful to businesses in Maine. If you would like assistance or to participate either as aclient or intern, contact Professor Martha Broderick on FirstClass or at marthab@maine.edu.We are here to serve UMaine business leaders, new and old. n

F our years after graduating from the MaineBusiness School with a degree inmarketing, Ashleigh Briggs ’09 is enjoyingher job as a software trainer withUniversityTickets, a New York City basedcompany that is a leading provider of ticketingtechnology for colleges and universities.

As manager of client success, Briggs trainsclients on the UniversityTickets platform,enabling them to manage ticket sales, seasonticketing and finances for a variety of schoolactivities from athletics to performing arts tocommencement. She serves as a liaison betweenclients and programmers — a client advocate, ofsorts — to ensure that the company’s softwaremeets clients’ needs and specifications.

Telecommuting from her home in Bangor,she uses internet training tools to share hercomputer screen with clients while they talk byphone. She demonstrates use of theUniversityTickets platform, advises on dailyticketing operations and provides insight on bestpractices. She’s frequently on the road,conducting face-to-face training with clients toaugment Web-based training. UMaine Athleticsis among UniversityTickets’ 300 clients across theU.S. and Canada.

Briggs considers it a priority to stay in touchboth with MBS students and with other alumni.She attends the annual networking eventsponsored by the University of Maine’s chapter ofthe American Marketing Association and theUniversity of Maine Alumni Association. Alongwith other alumni, she shares her workexperience with MBS students and providesguidance and insight about the best ways to meetpeople, establish relationships, make connectionsand launch a successful business career. Inaddition, she often speaks to MBS classes aboutthe working world.

“My goal is to connect Bangor area alumniwith one another and with the university.” saidBriggs, a marketing major who grew up inWinthrop, Maine. “With help from MBSMarketing Professor Harold Daniel and hisstudents, the Alumni Association has conducteda survey to see what types of events people want.”

What are some of the rewards and challengesof your job? Being able to work from home while getting funand exciting opportunities to travel are very largepieces of why I enjoy my job. I also like working

with technology and with folks in highereducation. I get to work with different peopleevery day and build relationships with themwhich can be very rewarding. Also, I amconstantly learning since I have to stay on top ofindustry trends and technological advances. Theticketing needs of universities and colleges arealways evolving according to the demands ofstudents who tend to be in the forefront oftechnology innovations. So our platform canchange quite a bit from year-to-year. As someonewho values education and really likes to learn,there’s lots of opportunity for me.

The challenge for anyone with atelecommuting job is to stay on task. You mustbe self-motivated since you’re in charge of yourown productivity. You also have to have thediscipline to maintain a healthy balance betweenwork and downtime. You have to set your hoursand know when you need to start working andwhen it’s time to stop. The other challenge is tocome to grips with the idea that when you workfrom home, interaction with people is limited. Itcan be hard to not have the human connectionthat you often take for granted in an officeenvironment.

What was your career path after graduatingfrom MBS?I had a couple of marketing/sales positionstentatively lined up with firms in the Boston areaand was getting ready to move when UMaine’sCareer Center called and said Dead RiverCompany in Bangor was looking for acommunication and training specialist to helpthe company transition from one software systemto another. The job, which was planned to lastfor 18 months, would be to gather and convertdata and train employees in the new softwaresystem. I applied and was ultimately accepted forthe position. I was glad that I took the jobbecause I discovered that I enjoy corporatetraining and teaching adults. I always loved toteach but because I never wanted to teach at theelementary or secondary level I never reallythought about teaching as a career. Now I realizethat corporate training can be a potential career.After 18 months with Dead River I was told by afriend who was working for UniversityTicketsthat the company was looking to expand andsuggested that I apply for a job. I realized thiswas another door opening for me that wouldallow me to continue with corporate training.

Why did you like your MBS program? I liked my classes and that my professors werementors as well as teachers. I especially liked thatthey had real life business experience; I reallyappreciated what they had to say and I’d oftenlook to them for advice outside of class. I amdefinitely proud of my MBS degree. I loved myundergraduate years at UMaine and was reallyinvolved. I co-chaired the Campus ActivitiesBoard and worked for New Student Programsand for First and Second Year Programs invarious capacities, including as a mentor foryounger students and as a tour guide forprospective students. I also served as director ofexternal affairs for Student Government. I’llalways be grateful for my time at UMaine and allthe opportunities that have become invaluable tome. n

MBSNews

8 Maine Business School

MBS Alumna Ashleigh Briggs’ 09 is a Software Trainer withUniversityTickets, Virtually Teaching Clients across the U.S. and Canada

“I applied and was ultimately

accepted for the position. I was

glad that I took the job because

I discovered that I enjoy

corporate training and teaching

adults.”

Ashleigh Briggs

University of Maine 9

Management Professor John MahonParticipates in Beijing Conference on PublicPolicy and Government

P rofessor John Mahon travelled to China last June tohelp organize the first International Conference onPublic Policy and Governance at Beijing NormalUniversity.

Professor Mahon, who teaches management at MBS, is theJohn M. Murphy Chair of International Business Policy andStrategy and founding director of the School of Policy andInternational Affairs (SPIA).

He served as guest speaker and chair of a discussion groupat the week-long event which drew hundreds of participantsfrom across the globe including university professors andstudents, as well as businesspeople and public officials.

In his presentation, Professor Mahon explained thechallenges of an aging workforce and the issues involved withmanaging and dealing with older employees who aremotivated differently than are younger people.

Reflecting on his trip, Professor Mahon said within thenext 10 years, “more people in China will retire than the entire population of the U.S.” Thechallenge for China will be dealing with retirement and healthcare issues, as well as workers whohave skills that may be declining but that are still valuable, he said.

One of three Americans and the only non-Chinese American to attend the conference,Professor Mahon said his presentation also focused on public services and governance.

“China is trying to move 250 million people into urban areas over the next 10 years becausethe country wants to expand its economy and become a bigger player in the global marketplace.To that end, it needs to move people to where the jobs, the technology and the opportunities are.The challenge will be providing housing, roads and public transportation. Another issue will bethe food supply. If you’re moving people from their farms to work in the cities, who will be left togrow the crops? There’s going to have to be an interesting balancing act there.”

A constant problem for China is the safety of the food supply, according to Professor Mahon.Because the regulatory functions aren’t as well developed as they are in the west, people areconstantly becoming ill from food that isn’t cleaned or packaged well. Pollution is also a majorproblem in China.

“The country hasn’t adopted pollution controls because it doesn’t consider it importantenough to invest in,” he said. “Walking through Beijing was like making your way through a fog.Everything was gray.”

While the conference was being held, the government issued the 2013 Minsheng Report, anannual summary that measures the health and welfare of the Chinese people and proposesimprovements.

“The report served as an underlying current throughout our discussions about urbanization,public services and the environment,” he said. n

A ssistant Professor of Human ResourceManagement Niclas Erhardt has wonthe 2013 Outstanding Reviewer Awardfrom the Organizational Behavior Division ofthe Academy of Management (AOM).

Of the 1,262 volunteers who reviewedpapers for the Organizational Behavior Divisionthis year, only 129 were selected to receive theaward which was based on authors’ feedbackand the usefulness, quality and constructivenature of their reviews. Reviewers also werejudged on the number and timeliness of theirreviews as well as the amount of feedbackprovided to authors. The papers were presentedat the annual AOM conference in Orlando thissummer.

“It’s an honor to be recognized for myservice to the field,” said Professor Erhardt. “Ireview for journals and conferences to stay intouch with the latest research from scholars inmy field. I get to read the most recent ideas,findings and trends, which is exciting and helpsmy own research. Serving as a reviewer alsobenefits the classes I teach and allows me to stayup to date in the classroom. Our faculty at theMaine Business School do a lot of this type ofservice and take it seriously as it helps ourstudents receive cutting-edge education.”

Professor Erhardt, who has been reviewingsubmissions for the AOM for approximatelynine years, also won the Outstanding ReviewerAward in 2010.

Established in 1936, the AOM is theprofessional association for scholars ofmanagement and organizations. It publishesseveral academic journals, organizes conferencesand provides other forums for managementprofessors and managers to communicateresearch and ideas. n

MBS Professor NiclasErhardt WinsOutstanding ReviewerAward from Academyof Management

John Mahon

Niclas Erhardt

10 Maine Business School

MBSNews

F ive Maine Business School studentsspent the summer helping to growMaine companies as part of theBlackstone Accelerates Growth Innovate forMaine Fellowship with the Foster Center forStudent Innovation.

Emma Wilson ’14, Sam Albert ’15, BriceO’Connor ’14, Jon Swavely ’14 and KatieSmith ’14, participated in the Innovate forMaine Internship Program, a paid summerinternship administered by the Foster Centerfor Student Innovation at the University ofMaine and funded by Blackstone AcceleratesGrowth, a $3 million, three-year initiative topromote entrepreneurship and create jobs inMaine.

Assigned to companies that are starting upor aiming to grow in terms of revenue,employment and the development of newproducts or services, the students performedmarket research and sales forecasting,determined the costs of producing anddistributing products, figured out potentialconsumers, designed websites and logos andcreated marketing messages and otheradvertising materials. They did most of theirwork at the Foster Center where they couldbrainstorm and exchange ideas, but were inconstant touch with their assigned companies.

The summer fellowship program, whichextends throughout the academic year, istargeted at students who are either enrolled at

a Maine college or university or are fromMaine studying elsewhere. The MBS studentswere among 30 total students chosen toparticipate in the program which enabledthem to obtain valuable work experience andsee that there are great opportunities to workand live in Maine after they graduate. Morethan 30 companies participated in theprogram which is in its second year.

Also contributing to the fellowshipprogram, were MBS faculty, includingmarketing professor Harold Daniel.

“Innovate for Maine is all about helpingcompanies become more innovative andentrepreneurial using the InnovationEngineering tools and methods for creating,communicating and commercializing uniqueideas,” said Jesse Moriarity, coordinator of theFoster Center for Student Innovation (andMBS alumna ’01).

“Companies don’t have time to do thiskind of research so they really value thestudents’ work. They like the new ideas thatstudents bring as well as their excitement andenthusiasm.”

“It’s incredible to see how students progressover the summer,” she continued. “They’regiven a lot of freedom, flexibility andresponsibility and they rise to the occasion.Their confidence just explodes.”

Students started the program with the‘boot camp’ — an intensive week of training

at the Foster Center where they were exposedto aspects of Innovation Engineering, aground breaking academic program started atthe University of Maine, that provides asystematic approach to innovation includinghow to develop and market breakthroughideas. Students also were trained innetworking and nondisclosure of a business’intellectual property.

“Boot camp opened my eyes and really gotme excited about Innovation Engineering,”said Sam Albert, a Fort Kent, Maine, nativewith a major in marketing and a minor inInnovation Engineering. “There are all sorts oftools you can use and ideas you can come upwith that I never knew were possible. Learningabout all the companies in Maine and gettingthe opportunity to network was reallyvaluable.”

Emma Wilson said the internship “haschanged what I want to do.”

“I didn’t think it would be possible to stayin Maine after I graduated,” said theGreenville native who has a double major inmanagement and marketing with aconcentration in international business. “Butnow I realize it’s possible to have a good careerand support myself right here in Maine —maybe even start my own company.”

Brice O’Connor, a finance major fromLondonderry, N.H., said the internshipprovided him with real world experience tocomplement his classwork. “We are learningwhat is involved in running a business andfinding customers. I enjoyed working with theother interns. We each had our owncompanies but we helped each other out andbounced ideas off one another.”

Jon Swavely said the InnovationEngineering experience will “be a goodfoundation for whatever I want to do inbusiness, whether I work for a company orcreate my own.”

“Innovation Engineering concepts can beapplied to any type of business,” said thefinance major from Reading, Pa. “It will helpmake us more marketable and be a real assetto the companies we work for.”

Businesses that would like to participate inthe internship program may contact AngelaMarcolini, 207.581.1429,angela.marcolini@maine.edu. n

MBS Students Use Innovation Engineering to Help Grow Maine Companies

Foster Center for Student Innovation links students with businesses

Jon Swavely, Emma Wilson, Brice O’Connor, Sam Albert

Funds Supporting the Maine Business School

We are grateful to the donors who created thefollowing funds which support the Maine Business School. Every effort has been madeto assure accuracy. If there is an error, please contact Becky Nadeau-Oliver at207.581.1951 or rnadeau@maine.edu.

Guvenc G. Alpander FundBank of America Scholarship FundBodwell SPIFFY Travel FundBonello Family Scholarship FundGloria P. Boyson SPIFFY FundSewall C. Brown Memorial Scholarship FundRonald Burnham ’62 Scholarship FundGarret E. and Marsha E. Cole Scholarship FundCollege of Business Adminstration Scholarship FundCompetitive Energy Services Sustainability FundCorrell Graduate Student Fellowship in BusinessPaul G. Coulombe Scholars FundCarlton E. Crossland Scholarship FundRaymond W. Davis Library of Finance and

Banking FundAlden F. Denaco Annual Award for Excellence

in BankingAlbert A. DiMillo, Jr. Junior Class Accounting

Scholarship FundAlbert A. DiMillo, Jr. Senior Class Accounting

Scholarship FundAlbert A. DiMillo, Jr. Sophomore Class Accounting

Scholarship FundThe Finance FundRalph A. and Hazel H. Gould Scholarship FundJerome P. and Pauline D. Hallee Scholarship FundJoseph L. and Miriam A. Haverlock Scholarship FundJoseph F. Herbert Maine Business School

Scholarship FundGeorge P. Hitchings Memorial Scholarship FundWilliam M. Kearns, Jr. ’57 and Patricia Anne Kearns

’57 Scholarship for the Maine Business SchoolJoseph S. Keating, Sr. ’12 Scholarship FundPatrice M. Krant Travel Scholarship FundClark Noyes Liscomb ’60 Prize FundRussell and Patricia Lovaas Scholarship FundMaine Society of Certified Public Accountants

ScholarshipMelvin T. McClure Scholarship FundDennis McConnell ProfessorshipMiddle Oak Scholarship FundJohn M. Murphy Chair in BusinessGeorge V. Nauman Scholarship FundJames C. Otis Scholarship FundPohren & Wagner Family Scholarship FundReed Family Scholarship FundLawrence and Lillian Rosen Scholarship FundJohn Roswech Scholarship FundNicolas M. Salgo Professorship in Business

AdministrationHerbert E. Sargent Scholarship FundJohn and Betsy Simpson FundSPIFFY Endowment FundPaul E. Sullivan Business Scholarship FundG. Peirce Webber Maine Business School FundJohn M. Webber School of Business Scholarship FundWillis of Northern New England Scholarship Fund

University of Maine 11

S even Maine Business School studentspresented their research at the fourthannual Undergraduate Research andAcademic Showcase at Wells Conference Centerlast April.

At the event, sponsored by UMaine’s Centerfor Undergraduate Research, MBS studentsdisplayed posters to demonstrate researchprojects involving everything from guidinginvestors and marketing a race car to reducingconflict in the workplace and helping studentsdo better in class.

“Not everybody on campus realizes that we atthe Maine Business School are active inresearch,” said MBS Dean Ivan Manev.“Mentoring students to develop their ideas intopresentable projects is a great way to demonstrateour commitment to research. Of course, theprimary value in these projects is the knowledgethat students gain. Job well done.”

MBS participants were:

Abigail Davis ’14 — “Multi-Asset ClassDiversification Using ETFs: A Study” (facultymentor, Finance Professor Pankaj Agrrawal)

Davis compared common forms of investingto a new approach of investing; beating themarket with an all-ETF, low risk, high return,low cross-correlation, zero-trade portfolio createdby Professor Agrrawal who analyzed investmentreturns from 2004–2013. “I see the nextgeneration of investors using more ETFs insteadof single-stock investing,” she says.

Matthew Chabe ’13 — “Identifying the Marketfor UMaine’s School of Engineering Race CarKit” (faculty mentor, Marketing ProfessorHarold Daniel)

Chabe was among students in ProfessorDaniel’s market research class to conduct

regional consumer research and analyze results todevelop the best way to market an open wheelrace car created by UMaine engineering students.“We recommended a tiered structure, rangingfrom a base unassembled model to a fullyassembled model with all the optional upgrades,”he says.

Robert Brown ’13 — “Bridging the Gap:Intergenerational Perceptions TowardsProfessional Usage of Social NetworkingWebsites” (faculty mentor, Lecturer ofManagement Information Systems C. MattGraham)

Brown explored the gap between older andyounger generations of social media users andexamined whether Facebook and Twitter haveviable applications in a business setting. “Itappears that while both age groups see someprofessional value in social media, youngerpeople embrace it more and use it morefrequently,” he says.

Casey Hudson ’13, Jacob Kane ’14 and ScottJohansen ’14 — “Capturing the Students” Spirit:Using Conventional Models to HarnessUnconventional Wisdom” (faculty mentor,Management Professor Patti Miles)

Aiming to ensure that students were preparedfor the workplace, Hudson, Kane and Johansenresearched how students best absorbed classroommaterial by conducting surveys and analyzingclicker points. (Clickers are devices which enablestudents to record their answers to questionsposed by the teacher during class. Students earn aclicker point each time they answer correctly).“Working in groups not only increased students’in-class participation and facilitated classdiscussion, but also increased clicker pointpercentages,” says Hudson.

Daniel Sipe ’14 — “Going Cheap Hurts: Triplevs. Single Digit Stocks” (faculty mentor, FinanceProfessor Pankaj Agrrawal)

Aiming to show that people can lose moneyby investing in low priced stocks, Sipe workedwith Professor Agrrawal to track two portfoliosover seven years and found that stocks that costmore than $100 outperform those that cost lessthan $10. “Our research showed that three digitstocks generated a 16 percent higher return and11 percent lower risk than one digit stocks,” hesays. “The idea that quantity of stocks is moreimportant than quality results in many investorslosing big-time in the stock market.” n

MBS participants in the Undergraduate ResearchShowcase included (from left to right): Casey Hudson,Daniel Sipe, Jacob Kane and Abigail Davis

MBS Students Present Research

December 2012Graduates

Aguilar, Luzl, Bachelor of Science, Marketing,Hermon, Maine

Bisson, Brittany, Bachelor of Science, Finance,Biddeford, Maine

Bisson, Molly, Bachelor of Science, Marketing,Brunswick, Maine

Bousfield, Emily, Bachelor of Science,Marketing, Glenburn, Maine

Bruton, William, Bachelor of Science,Accounting, Holden, Maine

Clark, Sarah, Bachelor of Science, Management,Readfield, Maine

Cook, Robert, Bachelor of Science,Management, Newmarket, N.H.

Cote, Joseph, Bachelor of Science, Finance andManagement, Saco, Maine

Daigle, Devon, Bachelor of Science,Management, Lewiston, Maine

Dickson, Taylor, Bachelor of Science, Finance,Middletown, N.J.

Dunn, Kayla, Bachelor of Science, Management,Newburgh, Maine

Eremita, Sarah, Bachelor of Science, Marketing,Bangor, Maine

Eshbach, Scott, Bachelor of Science, Marketing,Portland, Maine

Gilmore, James, Bachelor of Science,Management, Eliot, Maine

Harmon, Samuel, Bachelor of Science,Management, Westbrook, Maine

Ibragimova, Dilnoza, Bachelor of Science,Management, Tashkent, Uzbekistan

Janelle, Katja, Bachelor of Science, Accounting,Hermon, Maine

Johnson, Jon, Master of BusinessAdministration, Business Administration,Winterport, Maine

Jones, Derek, Master of BusinessAdministration, Business Administration,Hampden, Maine

Jones, Owen, Bachelor of Science, Management,Mexico, Maine

LaPointe, Evan, Bachelor of Science,Management, West Gardiner, Maine

Linscott, Lacy, Bachelor of Science,Management, Hancock, Maine

MacLeod, Robert, Bachelor of Science,Accounting, Hollis Center, Maine

McMahan, Kevin, Bachelor of Science,Accounting, Rochester, N.Y.

Miller, Mark, Bachelor of Science, Marketing,Kittery, Maine

Millett, Alicia, Bachelor of Science, Accounting,Old Town, Maine

Moore, Hannah, Bachelor of Science,Marketing, Stockton Springs, Maine

Ouellette, Elizabeth, Bachelor of Science,Accounting, Saco, Maine

Ouellette, Shannon, Bachelor of Science,Management, Presque Isle, Maine

Pierce, Lucas, Bachelor of Science, Finance,Hermon, Maine

Pieri, Christian, Bachelor of Science, Finance,Camden, Maine

Roberts, Molly, Bachelor of Science,Management, Paxton, Mass.

Said, Fartuna, Bachelor of Science, Accountingand Management, Auburn, Maine

Sanborn, Douglas, Bachelor of Science,Accounting, Thomaston, Maine

Shortsleeve, Tyler, Bachelor of Science, Finance,Standish, Maine

Smith, Gregory, Bachelor of Science, Finance,Yarmouth, Maine

Smith, Jenna, Bachelor of Science, Management,Orrington, Maine

Socoby, Mark, Bachelor of Science,Management, Bangor, Maine

Tilton, Jason, Bachelor of Science, Management,Boothbay Harbor, Maine

Verrill, Christopher, Bachelor of Science,Finance, South Portland, Maine

Ward, Alex, Bachelor of Science, Marketing,Waltham, Mass.

Yang, Xiao Xiao, Master of BusinessAdministration, Business Administration, JiuLongPo District, China

Yuan, Yi, Bachelor of Science, Finance,Shenyang, China

May 2013 Graduates

Alsaihati, Jassim, Bachelor of Science,Management, Orono, Maine

Arey, Jennifer, Bachelor of Science, Finance andAccounting, Franklin, Maine

Barnes, Isaac, Bachelor of Science, Management,Gorham, Maine

Bazdanes, Arthur, Bachelor of Science,Management, Nashua, N.H.

Beattie, Kyle, Bachelor of Science, Management,Buckeye, Ariz.

Begin, Joseph, Bachelor of Science, Accounting,Saco, Maine

Bosse, Ryan, Bachelor of Science, Finance,Madawaska, Maine

Bradbury, Kelly, Bachelor of Science,Accounting, Hollis, Maine

Briggs, Joshua, Bachelor of Science,Management, Cumberland, Maine

Byers, Shannon, Master of BusinessAdministration, Lamoine, Maine

Cannon, Richard, Master of BusinessAdministration, Sanford, Maine

Carnahan, Neil, Bachelor of Science, Finance,Winslow, Maine

Chabe, Matthew, Bachelor of Science,Marketing, Greenbush, Maine

Chaplin, Samuel, Bachelor of Science, Finance,Winthrop, Maine

Chappell, Asher, Bachelor of Science, Marketing,Scarborough, Maine

Cloutier, Joshua, Bachelor of Science,Management, South Portland, Maine

Cloutier, Michael, Bachelor of Science,Marketing, Topsham, Maine

Cornell, Michael, Bachelor of Science,Management, Franklin, Mass.

Cossar, Jeffery, Bachelor of Science, Finance,Lisbon, Maine

Craven, David, Bachelor of Science, Finance andManagement, Winchester, Mass.

Crossman, Thomas, Bachelor of Science,Management, Waldo, Maine

Daniel, Lisa, Bachelor of Science, Management,Old Town, Maine

Deschesne, Matthew, Bachelor of Science,Finance, Brewer, Maine

Desmond, Jonathan, Bachelor of Science,Marketing, Windham, Maine

Doherty, Patrick, Bachelor of Science,Accounting, Maynard, Mass.

Donohue, Kevin, Bachelor of Science, Finance,Medway, Mass.

Doucette, Benjamin, Bachelor of Science,Finance, Van Buren, Maine

Dubois, Jacob, Bachelor of Science,Management, South Berwick, Maine

Dumont, Stanley, Bachelor of Science,Marketing, Wells, Maine

Dupile, Tyler, Bachelor of Science, Management,Lewiston, Maine

Edwards, Gregory, Bachelor of Science,Accounting, Bangor, Maine

Eyster, Michelle, Bachelor of Science,Accounting, Sangerville, Maine

Field, Eugene, Bachelor of Science, Accounting,Minot, Maine

Finer, Matthew, Bachelor of Science, Finance,Annandale, N.J.

Fiore, Kimberly, Bachelor of Science, Finance,Bangor, Maine

Fournier, Olivia, Bachelor of Science, Marketing,Lewiston, Maine

Gagnon, Sarah, Bachelor of Science, Marketing,Durham, Maine

Giroux, Sean, Bachelor of Science, Accounting,Bradford, Maine

Gordon, Damond, Bachelor of Science,Management, Huntington, N.Y.

Hartley, Derek, Bachelor of Science, Finance andMarketing, Millinocket, Maine

Harvey, Nicholas, Bachelor of Science, Finance,Corinth, Maine

12 Maine Business School

MBSNews

Hastings, Charles, Master of BusinessAdministration, Norway, Maine

Hatch, Jessica, Bachelor of Science, Marketing,Hampden, Maine

Hatfield, Jordann, Bachelor of Science,Management, Jefferson, N.H.

Hathaway, Spencer, Bachelor of Science,Accounting, Turner, Maine

Hayden, Theresa, Bachelor of Science,Management, Madison, Maine

James, Kendall, Bachelor of Science,Management, Roselle, N.J.

James, Nicholas, Bachelor of Science,Accounting and Finance, Caribou, Maine

Keane, Alison, Bachelor of Science,Management, Brewer, Maine

Kenneway, Charlotte, Bachelor of Science,Management, Old Town, Maine

Kezer, Justin, Bachelor of Science, Finance,Plymouth, Maine

Knowles, Adam, Bachelor of Science, Marketing,Alexander, Maine

Labonte, Matthew, Bachelor of Science,Management and Marketing, Lewiston,Maine

Lane, Gary, Bachelor of Science, Finance,Groveland, Mass.

Lane, Shelbe, Bachelor of Science, Management,Patten, Maine

Lauter, Sara, Bachelor of Science, Accountingand Finance, Eliot, Maine

Leen, Emily, Bachelor of Science, Managementand Marketing, Bangor, Maine

Leidermark, Klas, Bachelor of Science,Management, Sweden

Ling, Alvin, Bachelor of Science, Accounting,Bangor, Maine

Look, Evan, Bachelor of Science, Management,Jonesboro, Maine

Madigan, Elizabeth, Bachelor of Science,Marketing, Hampden, Maine

Marble, Sarah, Bachelor of Science,Management, Bangor, Maine

Martin, Curwin, Bachelor of Science,Management, Freeport, Maine

Martin, Krystal, Bachelor of Science,Accounting, South Berwick, Maine

McAvoy, Matthew, Bachelor of Science,Management, Sherman, Maine

McCloskey, Abby, Bachelor of Science, Finance,Bangor, Maine

McEwen, Derek, Bachelor of Science,Management and Marketing, Sanford, Maine

McLaughlin, Reid, , Master of BusinessAdministration, Glenburn, Maine

McPhail, Morgan, Bachelor of Science,Marketing, Lincoln, Maine

Morton, Benjamin, Bachelor of Science, Financeand Marketing, Rangeley, Maine

Moszny, Pawel, Bachelor of Science, Marketing,Auburn, Maine

Myer, Keiko, Bachelor of Science, Accounting,Japan

Nason, Cory, Bachelor of Science, Management,Augusta, Maine

Nason, Julia, Bachelor of Science, Management,Camden, Maine

Nute, Victoria, Master of BusinessAdministration, Lee, Maine

O’Brien, Shane, Bachelor of Science,Accounting, Rockport, Maine

Oglesby, Rebecca, Bachelor of Science,Accounting, Bangor, Maine

Plante, Michael, Bachelor of Science,Management, Sanford, Maine

Price, Ryan, Bachelor of Science, Finance andMarketing, Kittery Point, Maine

Rambouskova, Lenka, Master of BusinessAdministration, Czech Republic

Richards, Evan, Bachelor of Science, Finance,Presque Isle, Maine

Scrutchfield, Zachary, Bachelor of Science,Accounting, Portland, Maine

Sheltra, Zachary, Master of BusinessAdministration, Lewiston, Maine

Shemansky, Adam, Bachelor of Science,Management, Robbinsville, N.J.

Siddiqui, Clay, Bachelor of Science, Accountingand Finance, Bangor, Maine

Smith, Tyler, Bachelor of Science, Finance, OldOrchard Beach, Maine

Speed, Brett, Bachelor of Science, Management,Corinth, Maine

Stein, Lauren, Bachelor of Science,Management, York, Maine

Stevens, Ian, Bachelor of Science, Finance,Madison, Conn.

Stormann, Timothy, Master of BusinessAdministration, Bangor, Maine

Sturgeon, Mark, Bachelor of Science,Management, Bangor, Maine

Thayer, Tyler, Bachelor of Science, Marketing,Auburn, Maine

Thomas, Alison, Bachelor of Science, Marketing,Yarmouth, Maine

Thomas, Luke, Bachelor of Science, Marketing,Orrington, Maine

Trask, James, Bachelor of Science, Management,Dayton, Maine

Turcotte, Joshua, Bachelor of Science,Accounting, Bangor, Maine

Twomey, Nicholas, Bachelor of Science,Marketing, Scarborough, Maine

Vainio, Jacob, Bachelor of Science, Accounting,Monson, Maine

Welch, Kyle, Bachelor of Science, Management,Dixmont, Maine

Wood, Samantha, Bachelor of Science, Finance,Wells, Maine

Worster, Thomas, Bachelor of Science, Finance,Bangor, Maine

Zagorianakos, Amy, Bachelor of Science,Management, Lincoln, Maine n

University of Maine 13

The MBS Corps — the Maine Business School’s community outreach organization — won the Bodwell Center’sActive Citizenship award last spring

14 Maine Business School

MBSNews

Maine Business School graduate SethSwanberg has found that the MBAdegree he earned in 2011 is provinguseful in his job as a mechanical engineer atElectric Boat in Groton, Conn., a sister companyto Bath Iron Works.

A native of Caribou, Maine, Swanbergdecided to pursue an MBA in management tocomplement the bachelor’s degree in engineeringhe earned from the University of Maine in 2009.

“The skills I gained throughout the MBAprogram certainly have given me a leg up overmost engineers,” he says. “Implementing a newdesign in a large company like Electric Boat canbe difficult. We have thousands of engineersspread across many different departments, allwith different priorities and ideas. This meansthat skills like effective communication, publicspeaking and sometimes even negotiation areinvaluable in my day-to-day work.”

What do you do as an engineer at Electric Boat?Electric Boat, a division of General DynamicsCorporation, has been the primary contractor forthe design and construction of the U.S. Navy’snuclear submarine fleet for more than 100 years.I’m part of a group of engineers who aredesigning the next ballistic missile submarine forthe U.S. Navy. This new class of submarine isintended to replace the aging Ohio Classsubmarine as part of our nation’s defense system.I am working on mechanical components withinthe submarine’s missile compartment.

I am always cognizant of the hugeresponsibility we have at Electric Boat. If yourcar has a malfunction you can likely coast to theside of the road, but an error in either the designor construction of a submarine will likely costmany sailors their lives. The potentialconsequence for these individuals and ournation’s defense, coupled with the incrediblecomplexity of our product, creates a very strongcorporate culture focused on quality. As a result,the company aims to bring new employees upthe learning curve at a very measured pace. I canhappily say that after about two years at ElectricBoat the company now trusts the quality of mywork and as a result I am getting on more teamsand taking a more active role in new programs.

Why do you enjoy your job?I like being able to walk down to the shipyardand see all the submarines in various stages ofconstruction. I like knowing that thosesubmarines that I helped create will someday bedoing amazing feats in the defense of our nation.Every once in a while you’ll see a submarinetraveling down the river from the naval base onits way out to sea or coming back from whoknows where — and it’s a very cool thing to bepart of.

Why did you enjoy your time at MBS?I liked the camaraderie and the close-knit feelingof the MBA program. I also liked that mybusiness professors aimed to do more than just

lecture. I could tell that they all enjoyedengaging the classroom in discussions and wouldalways go out of their way to help you expandyour education at every opportunity. Forexample, members of the Graduate BusinessAssociation were interested in a leadership classand learning how to be a manager. Aftermentioning this casually to Professor JohnMahon, he took it upon himself to invite severalguest speakers to talk about the concept ofleadership and how managers fit into that role. Iwas struck by how a simple conversationprompted him to go out of his way to impartknowledge. That general idea was prevalentacross the board at MBS; professors alwayswanted to help you learn.

What were some of your activities at MBS?I was a graduate assistant for the AdvancedStructures and Composites Center and alsoserved as a teaching assistant for Professor JasonHarkins. I helped him with undergraduatestrategic management and entrepreneurshipcourses. Under his supervision, I was able toteach a couple of classes in each subject. Not onlydid this help me develop my public speakingskills, but it also ensured that I thoroughlyunderstood material that was the foundation formany of my MBA courses.

What is your fondest memory of MBS?The international field experience trip toArgentina and Chile was certainly a once in alifetime opportunity. The itinerary was very wellplanned; we were able to have meetings withlocal business leaders and yet had enough time toexperience all the local culture. Prior to myMBA, I had never dreamed that I would travel toeither of those countries.

What do you do in your free time?I have my private pilot’s license which I earnedthrough the University of Maine Flying Clubwhile completing my MBA. My love for flyingstarted at a young age with flights in mygrandfather’s Piper and I was happy to follow inhis footsteps and become a certified pilot.

Since moving to Groton I’ve connected witha local flight club and enjoy getting out onweekends to fly their single engine aircraft. I’llusually fly an hour or so, land on a runway, havea leisurely lunch and fly back. To offset the cost, Ioffered my services to the flight club as amarketing consultant. It turns out they werelooking to find ways for the club to expand,making the marketing courses I took at MBScome in really handy. I can honestly say thatgetting paid in flight time is one of the bestpaychecks I have ever cashed. n

Seth Swanberg, MBA ’11, Uses Business Degree as an Engineer at Electric Boat

Seth Swanberg

University of Maine 15

M ark Skinnergraduated in1973 fromthe Maine BusinessSchool with amarketing degree andthen embarked on asuccessful 40-yearcareer focusing onemployee benefits andretirement plans.Co-founder, president

and chief executive officer of U.S. RetirementPartners in Iselin, N.J., he works to deliveremployee benefits programs and 403b retirementplans to their more than a million K–12 publicschool teachers across the country.

An engaged MBS alumnus, he hasvolunteered to participate in a new mentoringprogram that MBS is developing called WorkReady. He will advise students on career optionsand provide networking opportunities.

“I look forward to acting as a resource forMBS students,” says Skinner, who lives inChatham, N.J., with his wife Evan. He is thefather of four children ages 19–25. “I think it’seasier for college students to talk with and takeadvice from an adult who can communicate inways a parent may not be able to.”

How did you happen to come to the MaineBusiness School?I was born and raised in Manhattan, but Ialways had a great affinity for Maine thanks tosummers at my family’s cottage on Casco Bay inYarmouth where I played in a summer soccerleague. One day a UMaine soccer coachhappened to be watching our game and talked toseveral of us about playing at Orono. The ideaappealed to me. Also, although I had beenthinking about going to a small liberal artscollege, it occurred to me that I needed moreflexibility since I wasn’t sure specifically what Iwanted to do. I realized I would have moreoptions at UMaine. I eventually settled onbusiness since it seemed like a logical andversatile major that teaches skills for a variety ofpositions. In the end, the Maine Business Schoolprovided me with everything I was looking for— a small college experience in a largeruniversity environment.

What was your career path after graduation?I spent six years working for UNUMCorporation’s Philadelphia office where I focusedon employee benefits as a group insuranceconsultant and then as an associate pensionconsultant. In 1980 I joined what was then asmall startup firm called Copeland whichmanaged retirement plans for K–12 publicschools, local governmental entities, hospitalsand small corporations. I stayed there for 25years, working at offices in both Philadelphiaand New Jersey, directing the firm’s operations asregional manager, then regional vice presidentand finally, in 1995, as president. Under myleadership team, Copeland became the secondlargest retirement record-keeping firm in theU.S. with 25 regional offices and more than 500financial advisors. With $20 billion in assets, thecompany served more than 4,000 public schools,500 municipalities, 1,800 hospitals and 6,000corporations. Along the way we became a part ofCitiGroup and then a part of a joint venturebetween Citigroup and State Street Bank calledCitiStreet.

How did you happen to start U.S. RetirementPartners?In 2006, Citigroup withdrew from the jointventure and sold Copeland to ING and MetLifeand became CitiStreet Associates. I helpedtransfer several of the divisions over to the newowners while serving as president and chiefexecutive officer of the Retirement ServicesDivision. Then, with Copeland broken up andsold off, my mentor and former board chair andI decided to build our own business. In 2008 wefounded U.S. Retirement Partners which deliversbenefits programs and 403b retirement plans forthe K–12 public school market.

At that point in my career I was excitedabout starting with something small and havingthe ability to exert more influence and control.We took the leap of faith that anyone does whenstarting a new business — we put up the capitaland convinced a private equity firm to back usfinancially. The things we had going for us werecredibility, a good reputation and lots ofexperience. In addition, we knew the marketwell and had a tremendous number of contactsthroughout the industry. We built a businessplan, rented office space and hired staff, many ofwhom used to work for us. I am proud to saythat even in a bad economy these people trusted

us enough to leave their jobs and work for abrand new enterprise. Today, U.S. RetirementPartners is the largest independent specialist inthe market with 450 employees and a millionclients composed of teachers across the country.We have acquired 24 specialized businessesserving public schools across the country.

What are the rewards and challenges ofowning your own company?Being your own boss puts a spring in your step.I enjoy being emotionally and financiallyinvested and knowing that I’m helping peoplesave enough money so they can achieve financialsecurity, enjoy their retirement and provide fortheir families.

The challenges are making sure that I listento what people are saying to me, execute well-thought-out strategies, and communicateeffectively to the people around me, whetherthey’re clients or employees. My goal is to makesure everyone understands the direction in whichthe company is moving. As long as people haveclarity about the direction and the effect onthem they can be turned loose to go and do aterrific job.

How did your MBS education help your careerand how do you use what you learned in youreveryday duties?When I was first promoted to president atCopeland and everything was based aroundfinancial reviews, I relied on that basicfoundation that I got at MBS. Obviously theseskills have continued to play a major role ineverything I do. No matter what your business,when you reach a leadership position you haveto have strong, financial skill sets.

What advice would you give recent graduates?Make sure you develop good listening skills.Whether listening to your clients, competitors oremployees you need to ‘hear’ what is happeningaround you. Surround yourself with people who‘play nice.’ When things get tough, you need toknow that your people are team players, and cancommunicate effectively and appropriately whenfacing adversity. Finally, be willing to takerisks. n

MBS Alumnus Mark Skinner ’73is Co-Founder, President and CEO

of U.S. Retirement Partners

Mark Skinner

MBSAlumni Spotlight

16 Maine Business School

FY13 Honor Roll ofDonorsThe list below recognizes donorsto the Maine Business School infiscal year 2013. Every effort hasbeen made to ensure accuracy. Ifthere is an error, please contactBecky Nadeau-Oliver(207.581.1951 orrnadeau@maine.edu). Thanks toeveryone for your generosity.Your support is vital and greatlyappreciated.

Dirigo Society ($10,000 or more)

John L. Bonello ’65 and DebbieBonello

Correll Family Foundation, Inc.Alston D. Correll ’66, ’66G, ’67G

and Ada Lee CorrellExxonMobil FoundationRalph A. Gould, Jr. ’45 and

Hazel H. GouldJerome P. Hallee Charitable Gift

FundJerome P. Hallee ’54 and

Pauline Daigle HalleeMaine Society of Certified Public

AccountantsPaul E. Sullivan ’66 and Barbara

B. Sullivan

Fogler Society ($5,000 to $9,999)Competitive Energy ServicesJoseph H. Cromarty ’78 and

Laura W. CromartyDaniel R. Daigneault ’74 and

Carol B. DaigneaultJohn W. Darrah ’89 and

Debra O’Toole Darrah ’89Col. Parker A. Denaco ’65, ’75G

and Gayle G. DenacoAlbert A. DiMillo, Jr. ’76 and

Linda S. DiMilloFidelity FoundationPatrice M. Krant ’78 and Rick

Rosenbloom

Fogler Society ($5,000 to $9,999) Ann Groves Manson ’81Schwab Charitable FundRalph G. Seferian ’81 and

Cynthia R. SeferianJon F. Sorenson ’86 and

Karen P. Sorenson

1865 Associates ($2,500 to $4,999)Russell S. Bodwell ’44, ’47G and

Barbara Higgins Bodwell ’45Coca-Cola CompanyAndrew J. Frawley ’84 and

Julianne Hung Frawley ’85Heymann Foundation

Nicholas P. Heymann ’78 andBibiana Heymann

Edward J. Keefe ’86 andLillian S. Keefe

Owen Z. McCarthy ’10Morgan Stanley Smith Barney

Global Impact Funding Trust,Inc.

Sargent CorporationLorianne Smith Sargent ’86 and

Herbert R. Sargent

Presidents Club ($1,000 to $2,499)Bank of AmericaBank of America FoundationJohn J. Brier ’88Marc R. Brunelle ’80 and

Susan Dill Brunelle ’79Matthew J. Ciampa ’10, ’12GClinton E. Davies ’82, ’83G and

Colette B. DaviesIvelin Dimitrov ’03 and

Ralitsa DimitrovJoel P. Gardiner ’83 and

Judith Vessot GardinerStephen T. Harvey ’76, ’80GHarold H. Henderson ’67 and

Tamara Gemme Henderson ’80Janet KolkebeckCharles E. Komar ’80Russell Lovaas ’54 and

Patricia D. LovaasM & S Realty LLCDr. Ivan M. Manev and

Alexandra G. Todorova ’05Matthew R. McHatten ’90 and

Kelly Nickerson McHatten ’91Shawn McKenna ’77 and

Debra Colby McKennaAlvin S. McNeilly ’44James C. Otis ’69Scott E. Sharek ’78 and

Randi SharekDr. Robert A. Strong and

Kristen StrongTinBu, LLCUniversity Credit UnionUnumProvident Corporation Fdn.

Friends (up to $999)Ruth Potier Abbruzzese ’90Dr. Ethelle Lord Ames ’92William W. Anderson ’67 in

honor of Laurie BaldwinLiscomb ’61

Earl C. Andrews ’52 andAmy Andrews

Charlene M. BarrettDr. Lavon Lee Bartel and

David George StruckDr. Richard H. Borgman and

Sara MartinDaniel J. Bouchard ’83, ’85GPaul J. Bradeen ’62 and Gwen

Stevens Bradeen

Jim BradleyClair S. Bradstreet II ’90G and

Sandra StrahanDiane Phillips Brooke ’87Sean M. Cameron ’93 and

Linda CameronBarry A. Cohen ’71 and

Ruth-Ellen CohenChristopher D. Condon ’90 and

Denise CondonJames L. Costello ’84 and

Beth Randolph Costello ’86Charles W. Crabtree ’91Paul B. Cronin ’57 and

Dale G. CroninJohn W. Cronkite, Ed.D. ’68 and

Naomi Seid-CronkiteWilliam H. Cummings, Jr. ’51

and Lorraine CummingsElizabeth Flynn Darezzo ’86Jon F. Dawson ’67, ’72G and

Nancy Speirs Dawson ’74Barbara Lavoie DeCoster ’79 and

Lester A. DeCoster ’59David R. Delano ’82, ’87GLt. Col. Marne Boutilier Deranger

’93 and Chad Paul DerangerDirigo Consulting GroupLt. Col. Michael F. Doble (U.S.

Ret.) ’77 and Jan Doble inhonor of Malcolm A. Doble ’52,’59G

Thomas DombrowskiDavid J. Fayan ’78GWilliam G. Ferentz ’86 and

Victoria Rodwin FerentzRaymond K. Finley ’50 and

Mary D. FinleyJoyce Kathryn Fitzpatrick ’81GE FundCharles N. Hadiaris ’74Chris N. Hadiaris ’74, ’76G and

Bonny McCormick Hadiaris’76, ’82G

Francis D. HedrichDarrell J. Herbert ’71Thomas C. Hicks ’82Diane E. Hitchings ’75Stephen H. Holden ’81, ’83G and

Pamela WoltersWayne K. Huggler ’78Warren C. Hutchins ’70Pamela Nedik Induni ’83, ’94G

and Brian InduniDavid M. Jagger ’69Peter M. Joseph ’80 and

Theresa A. JosephWilliam M. Kearns, Jr. ’57Brock Kwiatkowsky ’88 and

Denise Tacy KwiatkowskyLorraine Burr Leeth ’75 and

Dr. John LeethRichard M. Levenson ’79Dr. John F. Mahon and

Julia M. Mahon

James M. Marascio ’95 andTheresa Bejtlich Marascio

Dr. Melvin T. McClure ’57Scott A. McLeod ’79David E. McMahon ’79 and

Robin Cook McMahonDennis B. Mitchell ’81 and

Linda MitchellJames D. Morin ’10Nancy Ann Nolette ’75, ’76GTatyana Nossova, C.P.A. ’09Richard C. Noyes ’94 and

Dr. Jennifer M. Noyes ’93James L. Oliver ’85 and

Susan M. OliverKrista Foster Ottman ’88 and

Daniel C. Ottman ’89Steven M. Ouellette ’87Peter F. Pacetti ’76 and

Heidi Tinkham Pacetti ’76Robert I. Penley ’75, ’79G and

Candis McKeown Penley ’79,’00G

Chiara Hall Perry ’86 andDouglas Perry

Gregg M. Piasio ’84 andLaurie Gorman Piasio ’85

Eugene V. Pohren ’87 andJennifer Pohren

Michael A. RichmondGary B. Roderick ’66, ’67G and

Dolores B. RoderickTodd D. Saucier ’93, ’97G and

Danielle Daigle Saucier ’93,’96G

John S. Schroeder ’84Gary E. Seavey ’74Gary N. Smith ’80Robert A. Start ’73, ’89GState Street CorporationKristen Everett Stewart ’81 and

Richard M. StewartPaul S. Stewart ’85 and

Melanie Jones Stewart ’90Warrena B. Trichka in memory of

Clark N. Liscomb ’60United Technologies CorporationJoshua D. Vandyk ’11Robert R. Villeneuve ’80 and

Jane VilleneuveVictoria Marcucci Volent ’87 and

John Charles VolentNancy Brown Weil ’76Leigh J. White ’70 and

Cynthia Fellows-WhiteDaniel G. Willett ’69, ’70GDr. Parker M. Worthing ’62 and

Marcia Worthing n

Lee Pillsbury Wilson ’85

C o-owner of Tara Home and Gift inCape Elizabeth, Maine, Lee PillsburyWilson ’85 worked as an auditor inFlorida and as a tax accountant in Portland,Maine before realizing she was on the wrongpath.

“I decided what I really wanted to do wasto own a business,” says Wilson, who grew upin Cape Elizabeth and lives there today withher husband Mike and two teenaged children.

Over the last several decades, Wilson hasowned and operated five businesses in Florida,Connecticut and Maine. She has overcomeadversity — including health issues and afaltering economy — and now is enjoyingrunning her small gift and décor shop with hermother, Mary Alice Reilley.

“I can’t imagine doing anything else,”Wilson says.

How did you come to own Tara Home andGift?My mother — a former antiques dealer — wasthe driving force behind Tara. She suggestedthat we open a shop together. In 2005, shefound a fabulous turn-of-the-century house inCape Elizabeth that was for sale. It neededsome TLC and to be rezoned to business. Webegan painting, repairing ceilings and floors,updating wiring and plumbing — all the whileaiming to save the building’s historicalintegrity. I did bookkeeping and taxes on theside while we built the business. We openedthe shop in 2009 and named it ‘Tara Homeand Gift Shop’ because it reminded us of thelarge house in Gone with the Wind, with itssweeping front porch and large pillars.

Meanwhile, the economy had gone frombad to worse; banks stopped loaning to anyone— especially small businesses — and we hadrun out of money. I was diagnosed with breastcancer and my husband Mike lost his job.With no other option, we persevered. This wasthe low point of my career. We finally havecome out the other side. Mom loves havingTara to go to everyday and I am happy forthat. We plugged along on a shoestring forgoing on four years and finally Tara is makinga name for itself. We are fully rented with aone-bedroom residence on the third floor aswell as a four room office suite on the secondfloor.

What are your future plans for the business?Tara currently is a small store, although wehave a website, (tarahomeandgift.com) I wouldlike to grow the business by using more socialmedia. I also would like to get back into

country pine furniture from England which wesold for 20 years at Mulberry Cottage, ourformer business.

How do you use your MBS education in yourday to day duties?In general, the accounting helps most withbudgeting, profit and loss statements and cashflow issues. But every now and then littlethings my business professors said pop into mymind.

Why did you want to earn a degree inbusiness? My parents reminded me that I would havebills to pay and that business was a practicaldiscipline that would open up lots of doors.Every organization relies on business principlesand there are many career opportunitiesavailable to people with a business education.

What advice would you give youngentrepreneurs about owning and running asuccessful business?I only know small businesses and start-ups. Befrugal — really watch costs and be prepared towork hard. Find something you like to do —not necessarily a hobby, but something youwill enjoy day in and day out.

How did your MBS degree help with yourcareer?It got me a job. From there it was hard work tobuild my career, but MBS teaches that, too. Ittaught me how to focus and provided me withgreat opportunities to meet people andnetwork.

Do you keep in touch with your UMainefriends?There is a huge community of UMaine peoplearound — they are our best friends. My collegeroommate and I are raising our familiestogether. n

University of Maine 17

MBSAlumni Spotlight

Lee Wilson

Management ProfessorJohn Mahon TeachesProfessional Athletes inGeorge WashingtonUniversity’s ExecutiveMBA Program

M BS Professor John Mahon helpedprofessional athletes develop theirmanagement and business skills lastsummer at the George Washington UniversitySTAR Executive Management Program inLos Angel