B.line Magazine Spring 2008

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BUSINESS MAGAZINE

Straight to the Bizz

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Vol. 1 2008 Business Magazine

Business Magazine

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Feature Article: Grainger Hall Addition

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To the Reader: Thank you for opening the inaugural issue of the b.Line Magazine. Before you begin reading the first ever publication, we would like to take this opportunity to introduce to you our organization and its purpose in the Wisconsin School of Business. The b.Line Magazine is a publication created by students for students. Through this publication, and more to come in the future, we hope to enhance the culture of the undergraduate business community. The objectives of the b.Line are to serve as a community voice, to increase awareness for undergraduate opportunities for enhancement, to present a well-rounded perspective of today’s business world and to educate students about the history and tradition of the Wisconsin School of Business. We hope that each publication, beginning with the one you hold in your hands, will be interesting, educational, and entertaining. If you would like to become involved in writing or publishing for the b.Line, please contact us at [email protected]. We plan to produce multiple publications per semester as we move into the future. Thank you for reading and welcome to the first issue of the b.Line!

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TABLE OF CONTENTS meet the staff, mission statement

FEATURE ARTICLES 4-5

Sconnie Pride

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Life in Sevilla

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The $85 Million Gift

12-13

Finances for Your Future

14-15

Real World 101: Advice From Grads

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Grainger Hall Addition: Not Just for Grad Students!

20-21

B-School Facilities: From Past to Present

26-27

Meet the Staff

table of contents

THE REGULARS 9 10-11 13 19 22 23 24-25

Queries ‘n’ Theories Kimm’s Korner Student Org Highlight: Real Estate Club Professor Spotlight THE TOP TEN b.Line Comic The Fun Page 3

Sconnie

Pride

Invades Campus and Beyond by Jake Fowler

Freshmen in college are usually known for being clueless, homesick and lost. Starting a business is not generally discussed at SOAR orientation either. Troy Vosseller and Ben Fiechtner definitely broke the mold. Vosseller and Fiechtner are the co-founders of Sconnie Nation and Sconnie brand clothing and accessories. According to the company’s Web site, Sconnie can be used as a noun “I am a Sconnie” or as an adjective “Look at that Sconnie truck.” The business is dedicated to showcasing the Wisconsin way of life and spreading Sconnie pride across the country. It all started in 2004 when Troy Vosseller and Ben Fiechtner were freshmen in the Turner Kronshage dorms. They lived on the same floor and soon became friends. They also soon discovered they had one important trait in common: both wanted to start their own business. “We realized we both had that entrepreneurial bug and wanted to start a business together, basically,” Vosseller said. “It would be a fun way to gain experience and maybe make a little money on the side freshman year.”

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So Vosseller and Fiechtner began brainstorming. Initial ideas included an online dating service for UW students and an on-campus gas-supplying service to moped owners. None of these ideas really hit home. Almost by accident, the idea for Sconnie Nation took shape. “We always used the word Sconnie as this fun-loving way to refer to people

from Wisconsin,” Vosseller said. “Anything Wisconsin-esque, kind of a way to take pride in the state along the lines of Wisconsin stereotypes like beer, brats and cheese. That snowballed into Sconnie Nation-this movement about taking pride in the state.” After receiving the support of friends, Vosseller and Fiechtner set out to make their dream of Sconnie Nation a reality. Each put in $300 dollars of their own money. Fiechtner knew of a custom printing service in the area and the boys ordered 100 shirts with the word Sconnie across the front. The shirts were sold out within a week, mostly to friends and other people in the dorm. This is when Vosseller said he knew Sconnie was on to something. Getting the business off the ground was not an easy task for the freshmen. “There are a lot of resources, speaking events and workshops that talk about the philosophical or qualitative ideas of starting a business,” Vosseller said. “But none of them are like, ‘This is the Web site you need to go to; these are the forms you need to file.’ That was a big hurdle.” When the company first started, the founders kept all the shirts and merchandise in boxes in their dorm rooms. This was not feasible as demand increased so the Sconnie team started selling merchandise online. Sconnie products now are also carried by The University Bookstore, Insignia and Bucky’s Locker Room. Vosseller realizes the business has come a long way.

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“It’s grown beyond what we ever expected,” Vosseller said. When we did it though, we thought we definitely had a good idea. We struck a cord and found a piece of Wisconsin culture and something we could really brand, the brand being Sconnie.” Taking the Sconnie brand to the next level is a new store on State Street that opened in August 2007. In order to acquire the store, Sconnie sold the custom printing part of their business to Underground Printing, which now also handles shipping and distribution for Sconnie. Vosseller and Fiechtner still own the Sconnie brand and merchandise line. Vosseller understands the company’s progression. “As we’ve hit hurdles we’ve had to develop new ways of forming systems and partnerships that make the labor aspect of it better,” Vosseller said. “But those are good problems to have because it meant we were having more sales and our business was growing and maturing.” Sales increased dramatically after acquiring the State Street store. In all of 2007, Sconnie merchandise bought online totaled 2,124 items. From when the store on State Street opened in mid-August until the end of December 2007, a time frame of four and a half months, the store sold 3,169 items. Balancing the business and schoolwork is still a challenge for Vosseller today. “My GPA could have been slightly higher on my resume,” he said. “But then I wouldn’t have had this huge experience of starting my own company. It’s a trade-off.” Vosseller also said customers expect more and more out of the business as it becomes more and more legitimate and many classes were skipped, and still are skipped, to make the business successful.

Troy Vosseller in the Sconnie store on State Street.

Since day one, profit from Sconnie products was re-invested in the company and even now, Vosseller said he hasn’t even thought about how much the

“It’s grown beyond what we ever expected” company is worth. The company’s goal was never about value but has always been to create a “sticky brand” that people identified with on campus and beyond, Vosseller said. In the future, Sconnie Nation plans on expanding its products to other campuses. They want to target one or two campuses to start with and use buzz marketing and fliers in dorms and housing complexes to get the word out about Sconnie.

will receive part of the company in exchange for growing the brand and the company. The business will continue to be passed down like this in the future as people graduate. Vosseller encourages young entrepreneurs to go for their dreams and is always willing to give advice. “If it’s something you have the money to do and you’re not too afraid of risk, go and do it,” Vosseller said. “There is no better test of your idea or your passion for a project than just actually trying to do it and putting money and time and your sweat on the line for something to succeed.” He also suggests researching and reading about other entrepreneurs and looking for ideas to implement in a person’s own business. Seeing Sconnie pride spread across campus is the most rewarding for Vosseller. “The first time I saw a person wearing one of the shirts that I didn’t know; that was one of the coolest feelings,” Vosseller said. “That same feeling exists today, like whenever I go to a football game and see people in the student section and older alumni wearing the shirts. That’s an awesome feeling.”

Fiechtner graduated recently and no longer runs the business. He now works in Milwaukee. Vosseller is still in school pursuing a J.D. and MBA and is now the main overseer of Sconnie Nation. After Vosseller graduates, he plans on creating an equity-sharing program where the business is passed on to a passionate undergrad. This student

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Life in

Sevilla By Jenna Lenz

Why did you want to study abroad? I really wanted to travel and I had only heard good things about study abroad. I also really wanted to perfect my Spanish.

What was the university in Sevilla like? The program I was in was very well established. There were a lot of students from the U.S. studying abroad. This made it hard to get to know Spanish students. They were used to having American students studying abroad (you had the option to take university courses with Spanish students, but I chose not to because those classes went through January and I wanted to be home for Christmas) and there was definitely a division in the student body. Even when we did try to contact them we didn’t have much luck. If they did want to hang out it was because they wanted to practice their English, not necessarily to become friends.

What classes did you take? I had all business classes that were taught in Spanish. The actual content of the classes was not challenging compared to Madison business classes, but it was challenging in that it was like taking all language courses. For example, I had an International Marketing course, a 400 level class, but it was easier than Marketing 300 here. I think that it also depends on the school you come from though, because some students from other schools struggled a little more.

Was there a language barrier?

Last semester Sarah Tysk (middle), a junior majoring in Accounting, had the chance to study abroad in Sevilla, which is located in southern Spain. Recently I sat down with her to discuss her travels and experiences. Some of her answers were surprising and caught me off guard but I definitely learned a lot during the short time we talked.

It was definitely an issue when we traveled throughout Europe. There are just some things that you come to expect when you travel when you have lived in the U.S. for so long. One trip that particularly sticks out is the weekend trip we took to Portugal. We bought our bus tickets, but there was no specific time on them. We showed up at the bus stop at a decent time, but we were told we could not get on the bus because it was full. In the U.S. you expect that if you buy a ticket then you can get on the bus, and if not, the station will accommodate you. Some of us were able to get on the bus that left that night, but some of the people I was traveling with had to take a ridiculous route back – a bus, then a ferry, a cab…it was super expensive. A similar story is that when my friend’s mom (who spoke no Spanish) came to visit. She pre-arranged all of her travel online, planned to fly into Madrid and then take the train to Sevilla. She had her ticket printed and order confirmation printed, but when she got to Madrid they told her the train was full and there was nothing they could do about it - in Spanish! Thankfully someone nearby came and helped her buy business class tickets. They were 3 times as expensive and she never did get her money back for the original tickets!

Did you travel to a lot of different places while you were there? Yes, on the weekends we traveled to different places in Europe. It was a little difficult because Sevilla is definitely not centrally located, which made it a little more expensive, but it was still manageable. Public transportation was available so we were able to visit Madrid, Barcelona, Portugal, Morocco, Florence, and Paris.

What was the scariest part? It was definitely when I had to move in with a family that didn’t speak English. I knew I had to get along with them, but we were all told to speak up if there was something that we didn’t like, such as the food or if our room was too hot/cold. It was hard to speak up politely in Spanish though.

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In Spain, hosting a foreign exchange student is a business. My host family was paid. It’s not like the U.S. where families volunteer to have a foreign exchange student and they are excited to have this person in their home. It was hard because I didn’t know if they really liked me, if I should get close to them. I felt like the family dog!

What surprised you the most? Before I studied abroad I had romanticized Europe. I thought Europeans were so progressive. When I was there they were so negative toward me; they were not very accepting. Ironically, people were nicest to me in Paris. The only people who received good service when we went out to dinner in Spain were the parents of one of the other exchange students whose parents spoke Spanish fluently. These experiences made me proud of the U.S. I realized that as a country we are more open-minded.

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What did you miss the most? While I was in Spain, I obviously missed my family and my dog. Other than that I really missed peanut butter; over there it just isn’t the same! Now that I’m back I really miss the candy stands that they had. I also miss going to school Monday through Thursday and then traveling to a new place from Friday to Sunday. Here you go out and do things with your friends on the weekends, but you aren’t traveling to new cities and exploring new cultures.

Was it easy to prepare for a semester abroad? The process was very time-consuming and involved. It seemed like there was a lot of information that I had to take in, but the Study Abroad Office did a good job of making the process as painless as possible. The thing that took a little more thought was planning which classes and requirements to save. You definitely want to start planning early and save your two breadth requirements. I think that’s something that a lot of people don’t realize until it’s too late.

“Right now, I’m having reverse culture shock. It has been really hard to come back to such a high stress environment after getting such a different outlook on life.” What would you do differently if you were to do it again? If I did anything differently I would go to South America. I didn’t get to practice my Spanish as much as I would have liked to. Europeans know too much English. When we traveled places people were always speaking English. They knew we were American and wanted the chance to practice their English.

How has this experience changed your life? In Spain they have such a relaxed lifestyle. Here people are very joboriented. It isn’t uncommon to ask a person what they do for a living early on in the conversation. Over there they just don’t talk about it. Right now, I’m having reverse culture shock. It has been really hard to come back to such a high-stress environment after getting such a different outlook on life.

What advice would you give other students who are studying abroad? Be really flexible with your expectations. When I left, my goal was to perfect my Spanish and traveling wasn’t really a priority. When I got there I realized that I could be in Spain for five years and my Spanish would still need work. Traveling was what I really wanted to do. You should also be willing to go with the flow, especially when you are traveling. There was one weekend when I really wanted to go to Prague and we ended up in Florence and it was great.

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The $85 Million Gift: How Students Had an Impact on Acquiring this Momentous Gift By: Jake Martin

On October 27, 2007 the Wisconsin School of Business experienced something unprecedented in the history of UW-Madison. The school received an $85 million gift from a group of prominent alumni. Never before has the UW received a single gift of such large proportions. However, perhaps what is even more interesting is the role that business students played in helping to acquire this awesome gift.

The School of Business received an $85 million gift from a group of prominent alumni. Students in the Wisconsin School of Business have sent several signals to alumni that this school is worth supporting. One particularly motivating factor occurred when students agreed to a $1,000 tuition differential above UW-Madison tuition. Several of the naming partners noted that it was inspiring to see that students were willing to pay for quality. Another inspirational event occurred last year when 99% of the graduating MBA class made a pledge to donate to the school. This resulted primarily from the efforts of a small group of MBAs who encouraged their classmates to show their support for the school by giving back. The MBA Commencement Campaign is currently in its fourth year, after its record-setting participation rate from the Class of 2007. The class of 2008, with 118 students, hopes to achieve 100% participation. Now, the Undergraduate Class of 2008 is breaking ground, launching the first ever undergraduate Make a Statement Campaign at the Wisconsin School of Business. The Make a Statement Campaign is a student-led effort to encourage seniors to give back to the school at graduation. Inspired by the generosity of alumni and the success the MBA student body has had in this initiative, the Make a Statement Campaign leaders have set a goal of 20% participation from the graduating class. The campaign committee has established a list of incentives, including a Class of 2008 t-shirt for anyone who participates in the campaign as well as a chance to win Wisconsin paraphernalia autographed by prominent Wisconsin coaches. “We wanted to get students involved and make them aware of how important it is that students and alumni help support the school. The Wisconsin

“It’s time for us to make our own statement about how much we value the time we have spent here and the degree we are leaving with.” 8

Naming Partners made a huge statement last fall with their generous $85 million gift and the alumni followed up with a huge increase in the amount of money given to the annual fund last year,” commented Travis Jones, campaign committee co-chair and senior in accounting. “It’s time for us to make our own statement about how much we value the time we have spent here and the degree we are leaving with.” The Make a Statement Campaign is part of a larger University-wide senior class gift campaign to encourage students to stay connected and give back as they become alumni. All gifts made to the campaign, up to $40,000, will be matched dollar-for-dollar by a group of alumni. The members of the undergraduate Make a Statement Campaign Committee have all made a leadership pledge of $100 each to show their classmates how important this campaign is. “We want to get as many people involved in the Campaign as we can. The amount of the gift doesn’t matter, we just want everyone to know that participation is what counts,” said Jon Kuether, a senior accounting student also cochairing the campaign committee. “The MBA class last year had 99% participation. We don’t expect to achieve that in our first year, but I think our undergraduate class is just as proud of our degree and the school.” “The leadership shown by these students is truly inspiring. It is very encouraging to see our students – those closest to our programs - demonstrate their support of what we are trying to accomplish by

“The leadership shown by these students is truly inspiring.”

giving back to the school,” Dean Michael Knetter commented. “It is this kind of collective investment that will allow us to continue our tradition of educating leaders.” The $85 million naming gift is something that will affect many future generations of business students. It is this kind of generosity that will ensure that Wisconsin is always a highly competitive school. These kinds of gifts are not something to be taken for granted. Alumni were moved by the commitment students have shown toward the quality of their education. It is important to continue to send the message that our education is worth supporting.

To find out how you can pledge, go to: www.bus.wisc.edu/pledgeug08.

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Queries Theories

BUSINESS MAGAZINE

Vol. 1 2008

by: the b.Line staff

A section designed for you! Instead of reading what your authors think is important; you have the opportunity to read what you want to hear. Do you have a question about the Wisconsin School of Business, classes, involvement, campus life, the “real world”, etc? If so, please email your “queries” to [email protected] and our staff will give our “theories” about your question.

The school also offers a Health Care Management Specialization as well as a Supply Chain Management Specialization. Information on the supply chain management specialization can be found in the Grainger Center for Supply Chain Management which is in 5161 Grainger. More detailed information on certificates and specializations can be found on the Undergraduate Programs website at www.bus.wisc.edu/undergrad/.

Accenture Leadership Center – located in room 2261. The ALC provides opportunities for students to develop leadership skills outside of the classroom. The ALC sponsors numerous leadership events throughout the year. Business Career Center – located in room 3290. For everything from career advising to interviewing tips, the BCC is the place to go for all of your employment needs. Study Abroad Office – located in room 2266. The Study Abroad Office can help you find that perfect place to study whether you’re a pre-business major, business major, or a returning student.

Answers to Crossword Puzzle: Horizontal: 1. Golf 2. Windsor 3. Niche 4. XBox 360 5. Citizen Kane 6. Showers 7. Forbes 8. Microsoft 9. NASDAQ 10. Enyart 11. Thirteen Vertical: 1. GE 2. Warren Buffet 3. Facebook 4. Henry 5. Wingtips 6. Hong Kong 7. Wharton 8. Bernanke 9. SWOT 10. Pixar

As a business student, there are certificates and specializations that can accompany any business major. Certificates are offered through the various language departments as an option to all business majors. The business school offers a language certificate in French, German and Spanish.

Business Learning Center – located in room 2240. The BLC provides free academic support in quantitatively based business classes such as accounting, finance, statistics, economics, and finite math.

thinks they do is destined for mediocrity.” – Donald Trump

The Wisconsin School of Business does not have “minors” per se, but instead offers various certificates and specializations. A non-business student can obtain a certificate in business, which gives these students an opportunity to have a concentration in business fundamentals without an actual business major. Just as with the application to the business school, there are eligibility and application requirements to receive a certificate in business.

Undergraduate Academic Services – located in room 2020. The advising office is there to help with all of your questions from satisfying your major requirements to finding another resource in Grainger.

Cryptation Answer: “Watch, listen, and learn. You can’t know it all yourself, anyone who

What can I minor in?

If you are looking for student resources, then the Wisconsin School of Business is the place to be. An entire article should be written about each of the following resources in order to give them proper justice, but here is a brief (yet not exhaustive) overview of what is available to you.

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What are some of the business resources available to students?

Book Store Nelson Monday Blue

Secondly, look at your timeline. Generally, students do internships the summer after their Junior year. However, if you will be going to school for 5 years, then you can still do an internship after your 4th year. After graduation most people do not have internships; they start working instead. So, if you feel that an internship is required/important for what you want to do, but you still need to take summer classes, you may want to consider finding relevant part-time work experience during the summer or school year. There are also a number of companies that offer part-time internships during the school year and are most likely looking to hire you after you graduate. The BCC website is a good place to search for such opportunities.

Books on reserve for classes can be found at the circulation desk in the Business Library on Grainger’s second floor. Reserve materials may be checked out for two hours at a time and your student ID is required in order to check out the books. The availability of reserve items for a course depends on the number of books the professor gave the library to reserve, along with demand for the reserve material. It is a also a good idea to check for reserve materials online in MyUW under the ‘Academics’ tab. Professors will often upload class materials here for the entire class.

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First, look at the industry you want to get into and the company you want to work for. Some companies require an internship; while others require specific skills (i.e. communication and technical skills). They may also look at other relevant work experience you have had that is not necessarily classified as an "internship".

Where can you find the books on reserve for business classes?

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There are a number of factors to consider here:

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I got into the business school relatively "late in the game" [spring semester of 3rd year] and I was planning to take a class this summer instead of doing an internship. Am I going to be in trouble if I put off doing an internship until next summer?

Logic Puzzle Answer:

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Businesswear by: Kimm VanDen Heuvel

The transition from a lecture hall to an office setting can be a bit overwhelming. Sweatpants become a daily wardrobe item of the past while oversized sweaters and samurai headbands become weekend essentials, not workplace-appropriate. As students approach the college finish line, panic sets in and career fairs become a prime networking opportunity. Interviews and career fairs are optimal occasions to let your Madison brilliance shine, so take inventory of your closet and dress confidently.

Men: Creased, Tied, Delivered…All Yours

Time for the Glitz?

To all the males of the student body who relied on their mothers to select their formal outfits, here is your personal guide to dressing for success with style. If you are headed to a career fair at the Kohl Center or a campus presentation, business casual is usually the way to go. You can never go wrong with a long or short sleeve woven oxford. Long sleeve oxfords are appropriate for spring or summer business functions if they are light in color — white or pastels. Polos are appropriate for summer wear if they are neatly pressed and tucked into creased dress pants. To tie or not to tie? When in doubt, wear a tie. If you arrive at a function and notice that no one else is wearing a tie, you can remove yours.

Accessories can make or break your outfit. From shoes to jewelry to purses, the goal is to accent the outfit you have, not appear on a list for the “Top Ten Fashion Wrecks of 2008.” When it comes time to lace up your kicks, do not reach for the Converse All Stars. Instead, males should pair their crisp ensemble with polished leather shoes and a matching leather belt. Living the college life means ramen noodles and cheap beer — with minimal funds, purchase one belt and one pair of shoes that can correspond with a wide variety of outfits. I suggest purchasing a leather belt and shoes that are dark in color. Ladies — you love your shoes, but do your shoes love you? It is important to select a pair of shoes that are comfortable and classic. I suggest a timeless pair of black, leather pumps with a two-inch heel or shorter. They are versatile and a great accompaniment to tailored pants or skirts. It is important to save the peep toe shoes for the beach and dress for comfort. Interviewers don’t want to see prospective employees that appear injured due to shoe malfunction. If purses and shoes faced off, I wonder which would win in regards to significance in a woman’s wardrobe. Purses are a ladies safety net, housing emergency tools and everyday essentials. If you must bring a purse to the career fair, select one that has a small structure and serves as an accent to your ensemble. Attention all sexes: when attending a career fair, I suggest using pad-folios instead of brief cases and purses. In the pad-folio, you will have copies of your resumè, business cards, and a comb. It is important for males to remove piercings and leave the studded watches at home. Instead, wear a conservative watch. Ladies, go conservative on the jewelry as well. Simple earring studs and a necklace are enough to add the final touch. The words of Coco Chanel perfectly define the rules of appropriate accessory execution: “When accessorizing, always take off the last thing you put on.”

Women: Commonsense or Nonsense? Ladies: when dressing for a business outing, be sure to let your intelligence and personality be seen without drawing attention to what you are wearing. There is a fine line between Friday night skirts and nine-to-five business dress. If your skirt is above the knee, leave it at home. Skirts should always be worn with a pair of nylons as to polish your look. If wearing pants, crease them. Blouses should be buttoned appropriately, typically leaving the top button undone, and necklines on shirts should be conservative. Layering blouses with a cable knit sweater is appropriate; however, avoid bulk. If layering, select a chic blouse that won’t bunch under your sweater. Neutral colored clothing— black, navy, brown, gray, or khaki— ensure that you will maximize your wardrobe. These colors are interchangeable and can accompany a wide variety of blouses and shirts.

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Hygiene Alert

Dress According to Circumstance

Hair should be well-groomed. A classic pony or slick, straightened hair is standard for women and will not be distracting for you or interviewers. Leave the purple shimmer eye shadow at the make-up counter and instead stick to neutral, conservative make-up selections. You want your resume to stand out, not your blue eyelashes and hot pink lips. Men should be freshly shaven and receive a hair trim if it has been more than five weeks since their last barbershop visit. Men and women should pay attention to the hygiene of their nails. Ladies should trim, file, and finish with a sheer top coat or neutral polish while gentlemen should make sure the nail is trimmed, cuticles under control. Wear cologne and perfumes sparingly as to not overwhelm employers with odor, but rather your intelligence.

For those of you headed to an interview or the first day at a new job, remember that less is more and do your research. It is important to understand the atmosphere of the company: is it a creative or conservative institution? Dale Rozmiarek, Vice President of Creative Services at Calvin Klein, New York, believes “people should dress to represent the company they work for or that they aspire to work for. You should look that part and live and breathe that part no matter what day of the week or what the situation is.” When shopping for a new wardrobe to accompany your newly acquired job, think in terms of essentials. On a limited budget, maximize the longevity of your closet by selecting things that can be worn in a multitude of different ways. Therefore, select neutral colors that compliment one another. Dress for the atmosphere you represent — whether it is 5th Avenue in New York or Wilson Street in Madison. Suits are appropriate for evening dinners, formal business meetings, and reviews with your boss. However, they are not necessary for career fairs. There is no right, wrong, or appropriate time for suits or business casual: it all depends on the company and situation. Bottom line, it is always better to overdress. Rozmiarek recalls: “When I interviewed with Calvin Klein himself, I wore jeans, a white shirt, loafers, and a brown cashmere sweater tossed casually over my shoulders…again becoming part of the lifestyle. However, if you want to be a part of the Wall Street crowd, tailored suits with perfectly pressed, soft in color shirts, a crisp tie…get it.”

Remain Classic When in doubt of the appropriateness of your attire, change your outfit. If you make one purchase, let it be an iron—be crisp, be well-groomed, be memorable. Rozmiarek leaves us with a final tip: “style comes from within and should become part of who you are — in that case, you always make the right decision. Of course impeccable manners, expensive shoes, and a keen sense of grooming can take you anywhere.”

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Pictured Here: Ashley Eggenberger and Adam McNeilly

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Photos by: Erik Eichstadt e-mail: [email protected] website: http://www.ErikEdesigns.com

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Finance For Your Future by Jake Martin

Have you started making plans for retirement yet? If you haven’t, you are already falling behind. So what’s the good news? There is no time like the present to start preparing. If you are like most college students, your main financial concerns probably revolve around how you are going to pay next month’s rent, or how you are going to get your roommates to pay you back for last weekend’s festivities. Most college students haven’t even started a full-time job, so why worry about retirement?

Do the Math The key to saving for retirement is time. The The Effect of Waiting Ten Years longer you can earn interest on your savings, $3,000,000.00 the less you will have to personally contribute in order to achieve a certain goal. I am talking $2,500,000.00 about the principle of compound interest. $2,000,000.00 Let’s say that you have $100 and that you can Person $1,500,000.00 earn 10% per year by investing your money. 1 Person 2 At the end of year one you will have earned $1,000,000.00 $10 and will now have $110. Now here is $500,000.00 where the beauty of compound interest oc$0.00 curs. In year two, you will earn 10% not only 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 on your initial principal of $100, but also on the $10 that you earned in year one. So in year two you will earn 10% of $110, or $11. Following this logic, you will earn $12.10 in year three, $13.31 in year four, $14.64 in year five, and so on. Assuming this trend continues for the next 45 years, your $100 will be worth $7,289 by the time you reach retirement. Do I have your attention? (Have the nearest Finance Major explain the math to you if you didn’t follow my numerical logic). The longer you can allow this to grow, the more the interest will compound on itself and contribute to your overall wealth. That’s why you need to start now! So, let’s assume that you agree that it is time to start saving. Where should you start? One of the best ways to quickly increase your return on investment is to allow it to grow tax-deferred or tax-free. Before obtaining a full-time job, the best way to do this legally is by starting an Individual Retirement Account (IRA). IRAs come in two flavors: the Traditional IRA and the Roth IRA. Both will help you to achieve your retirement goals, but they each have slightly different tax implications.

The Traditional IRA The Traditional IRA allows you to save in a tax-deferred environment. You are permitted to contribute up to $5000 per year of your earned income without paying taxes upfront. The money is allowed to grow tax-free until you withdraw it at retirement, at which point you pay taxes on whatever you withdraw. An important advantage of the Traditional IRA is that it has no income eligibility limits. So, you can continue contributing $5000 per year no matter how much you earn in your profession. However, disadvantages of the Traditional IRA are that you must begin withdrawing money by age 70 ½ and you generally cannot withdraw any money from the account until you retire (there are a few exceptions to this rule).

The Roth IRA The Roth IRA is similar to a Traditional IRA in that it allows you to contribute up to $5000 per year. However, the key difference is that you pay taxes upfront rather than upon withdrawal. You have to pay income taxes when you earn the $5000 now; however, afterward the money is allowed to grow and be withdrawn tax-free. An advantage of the Roth IRA is that you are permitted to withdraw any portion of your contributions without penalty (you cannot withdraw any earnings on your contributions until you retire, however). This can be an important feature for students who are looking to start planning for retirement but still need the investment to be relatively liquid in case of emergencies. An important disadvantage of the Roth IRA is that it is limited to people earning less than $101,000 per year (this number is adjusted annually). Most students will fall well below this threshold, but it is important to note that you cannot continue contributing to the Roth after you start making more than this amount.

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STUDENT ORGANIZATION HIGHLIGHT: Real Estate Club BUSINESS MAGAZINE

Vol. 1 2008

By George Ryan

The Power of Saving One of the biggest misconceptions about saving is that money grows linearly. People fall victim to the “I’ll catch up later” syndrome. The truth is that it’s a lot harder to catch up later than you may think. Let’s look at what kind of effect a ten year delay does to your overall savings. Here is the situation: There are two students who are both age 20 and both of whom have the opportunity to contribute the maximum $5000 each year to an IRA (let’s stick with our earlier assumption that a person can earn a 10% return on investment). Person 1 decides to begin investing $5000 each year until the age of 30 when she decides to stop contributing to her IRA. Person 2 waits until age 30 to start investing $5000, but continues to contribute $5000 every year until age 65. Who has more money at retirement? If you’re standing up right now, you may want to have a seat because the results are a bit shocking. Not only does Person 1 have more, but she has almost a million dollars more than Person 2. Keep in mind that Person 1 only contributed $5,000 for 10 years, for a total contribution of $50,000 while Person 2 contributed $5,000 per year for 35 years, for a total contribution of $175,000. Look at this graph to see how each investment behaves.

So Now What? So, which IRA should you invest in? The answer to this question is that it depends. It largely depends on the tax bracket that you are in now versus the tax bracket that you will most likely be in upon retirement. If you are in a lower tax bracket now than you will be in retirement, you most likely will want to choose the Roth IRA to pay taxes at the lower rate. If your tax situation is reversed, the Traditional IRA will better serve you. However, it is also important to consider how likely it is that you will need this money in the near future. If liquidity is very important (as it is for most students), then the Roth IRA is an ideal choice. Generally, the Roth IRA is the best choice for students, but it is important to talk to a financial representative about your specific situation before making a decision.

With a highly-regarded Real Estate program in both the graduate and undergraduate schools, a student organization that serves, unites, and informs is vital for the success of the students in the major. The University of Wisconsin Real Estate Club fills this role many times over and as a result has become one of the largest student-run organizations at UW-Madison. The Real Estate Club (REC) meets several times each semester at the Pyle Center, which is located next to the Red Gym on Langdon Street. The speakers, which the REC invites, are from varying specialties within the real estate field and therefore a wide assortment of topics are covered. Such topics include real estate development, REITs, and current market trends. The presentations given by the speakers are very professional and provide a wealth of information to the audience ranging from the general perspective on the topic to the specific questions posed by REC members in attendance. Also, as an added bonus, the Wisconsin School of Business faculty is greatly involved in the REC. Faculty members, such as Professors Stephen Malpezzi and Sharon McCabe, routinely attend the meetings and encourage their students to become active members of the club. Such ongoing support from the faculty helps with the continuing success of the REC and has prevented it from becoming stale or irrelevant to those interested in this area of business. The Wisconsin School of Business is closely linked to its alumni and that is especially true as it pertains to the past graduates of the Real Estate program. A majority of the speakers at the club meetings are Real Estate alumni who have utilized the education they received in Madison to become successful in some of the largest real estate markets in the United States, such as New York City, Chicago, and Los Angeles. Alumni relations with the club are prevalent in the interactions between the REC and the Wisconsin Real Estate Alumni Association, Inc. One of the ways that the WREAA shows its support is by cosponsoring end of semester dinners for the graduating members of the REC. Additionally, students are provided a free membership to the WREAA database making it possible for them to contact UW alumni in the search for internships and future jobs. As a member of the Club myself, I can attest to the fact that the club meetings are informative and fascinating regardless of one’s future career plans. Notwithstanding the sub-prime mortgage problems we hear about almost every day, the field of real estate and related transactions is all around us and will always be a part of the world’s economy. The REC supports this notion of the importance and interesting aspects of real estate and adds to it through its activities. Any business student, regardless of major, should consider joining the University of Wisconsin Real Estate Club.

Resources Where should you go to start an IRA? A great place to start is at the bank you are currently using. Most banks will be able to set up an IRA for you or connect you to someone who can. Other reliable resources include: Fidelity, TD Ameritrade, or Scottrade. By accessing their websites you can find out more about the advantages and disadvantages of IRAs, which one is right for you, and you can open an account online in about 15 minutes.

Act Now The most important action that you can take to plan for retirement is to act now. Every year you waste can mean a difference of thousands, or even millions of dollars. Do your future a favor and start planning for your retirement right now!

Quick Facts Location of Meetings: Pyle Center Co-Presidents: Ashley Jenkins and Michael Scotti Links: Club website: www.realestateclub.org

WREAA, Inc: www.wreaa.org 13

Wisconsin School of Business’ Real Estate website: www.bus.wisc.edu/realestate

Real World 101: Advice from Business Alumni Have you ever wondered what your life will be like after you graduate? Deadlines? Waking up early? No exams? Take some advice from two Wisconsin School of Business alumni on their personal experience in the “Real World.” by: Rachel Hartjes

Ryan Treml Major: Bachelor’s Degree in Finance Company: Allstate (Chicago Area) Job Title: Financial Analyst Job Description: Provide business support to internal clients by performing financial analysis; help clients make informed business decisions and better understand the impacts of those decisions.

Q: Why did you choose your major? Are you happy with this decision? A: I choose to be a Finance major because it was very interesting to me. This has proven to be a good decision because I usually find the things that I work on to be very interesting.

Q: Is the “real world” different than you thought it would be? A: I thought that work would be much more stressful, but so far I have been able to just do my job and remain fairly laid back about it.

Q: What do you like best about working? A: I really like having my weekends free to do what I want. In college I usually had something hanging over my head all weekend that needed to be done by Monday. Now, when I’m done with work on Friday I don’t really think about it again until Monday.

Q: What’s the most embarrassing thing that’s happened to you since you’ve started working? A: I forgot the name/face of one of the people I interviewed with and when he stopped by my desk to congratulate me he could tell I didn’t know who he was; he said, “Oh I guess I didn’t make that good of an impression on you”… not a great way to start my third day.

Q: What advice do you have for business undergrads? A: Make sure that you take advantage of internships. Internships are both a great way to get your foot in the door somewhere and to find out what you’re looking for in a job. Being able to know what you want to do and being able to articulate that at interviews for full-time jobs will make you a much better candidate.

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BUSINESS MAGAZINE

Vol. 1 2008

Matt Schmidt

Q: Why did you choose your major? Are you happy with this decision?

Major: Masters in Accountancy Company: PricewaterhouseCoopers (Milwaukee) Job Title: Audit Associate Job Description: Perform various audit procedures

A: Honestly, it was my introductory accounting class and discussions with one of my bosses at a summer job. I had always liked business, but did not know what specific major to go into. I really enjoyed Introductory Accounting and after speaking to my boss at one of my summer jobs, I quickly realized that accounting was a great foundation to have for any career in business. After realizing that, I kept taking more and more accounting classes, and I have sincerely enjoyed it ever since.

over clients’ financial statements. Specific tasks include substantive testing of business transactions, as well as substantive analytical procedures.

Q: Is the “real world” different than you thought it would be? A: Definitely. In the “real world” you are given a lot more responsibility, as well as a lot more freedom. People do not care as much how you get your work done or when you do it. They just care that you get it done and that you do a quality job. Now, instead of having periodic tests or daily homework, I get assigned specific tasks and a set timeframe to get my stuff done. Additionally, in the “real world” the focus is more on the team than the individual. If I did not get my work done in school, it often times only affected me and my grade. However, in my career, if I do not get my work done or do not do it properly, it not only reflects poorly on me, but it reflects poorly on my team and my firm.

Q: What was the hardest part about transitioning from college to work? A: Feeling like I didn’t know anything was the hardest thing to get used to. There is such a steep learning curve when you start a new career. No matter how good a student you were in school, at your job there is always someone who has been there longer and knows a lot more than you do. The thing to remember when you first start is to not be afraid to ask questions. Everyone you work with went through the same humbling experience of being new. Just ask questions and keep an open mind to new things. You will be surprised how quickly you start to pick things up.

Q: What’s the most embarrassing thing that’s happened to you since you’ve started working? A: During an inventory, I was looking up while trying to read the quantity and the part number listed on a box on the top shelf. While doing this, I tripped over a box on the floor causing me to fall on top of the box and completely crush it! The client and I had a good laugh over that one.

Q: What advice do you have for business undergrads? A: When deciding on your first career, pick a job based on what excites you. Ask yourself, Is this company right for me? Will I enjoy what I am doing and who I will be working with? Things such as money and vacation time should not be the sole reason for any job. Do what you love and find the right culture for you. In the end, it’s enjoying your life, and not the money that makes a person happy.

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Grainger Hall Addition: NOT JUST FOR GRAD STUDENTS! by: Peter Olesen

With the construction phase of the Grainger Hall addition nearly over, the Wisconsin School of Business community is preparing for the pains which come along with moving in. The 131k square foot $40.5 million addition, nearly doubling the size of Grainger Hall to 343k gross square feet, is on schedule to open in time for the fall semester 2008, according to Melissa Amos-Landgraf, Associate Dean for Administration. The new addition, standing four stories tall, will house the MBA program facilities including 10 classrooms, 19 breakout rooms, career specialization offices, graduate career center along with the Dean’s Office and Alumni Relations. Despite often being referred to as an addition strictly for the MBA/Graduate Business Programs, Dean Amos-Landgraf assures us that the new building and the many renovations of the existing Grainger Hall will bring many great amenities and enhance the overall experience of the undergraduate community as well. Front and center of the new addition will be the completion of a new, prominent entrance to Grainger Hall. Grainger Hall, which has lacked a distinctive “main entrance” since its opening in 1993, will attract students and visitors through a new entrance, located on the corner of University Avenue and Park Street. This entrance will take you through a hallway which opens to a large, two-story atrium. Unlike the existing atrium in Grainger Hall, the new space will have many windows offering views of Park Street and letting in an abundance of natural light. The area will include a staffed information desk, comfortable seating for students and faculty to use for socializing and a one-story”water-wall.” Yes, you read that correctly. You will be able to relax to the sound of falling water all day in the new atrium. According to Dean Amos-Landgraf, “The goal of the new atrium is to increase traffic and encourage more interaction amongst business students.” The new atrium is sure to become a popular destination for all students. Just to the north of the atrium will be a large, round plenary room. This onestory room can seat up to 265 people and will be used for guest speakers as well as other School of Business sponsored events. This is also the location of the highly anticipated fireplace. While it would be ideal to cozy up next to the fire on those long winter days, the undergraduate students will have to forego this luxury for the time being; the plenary room will be used as

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a Graduate Study Lounge during the times it is free of speakers and other events.

You will be able to relax to the sound of falling water all day in the new atrium. The addition will also bring Grainger a new, centrally located dining commons. Since the Grainger Deli moved to the third floor in 2005, students, faculty and visitors have had to journey up three floors just to grab a sandwich or a cup of coffee. Finding somewhere to sit and enjoy lunch was another (usually futile) expedition in and of itself. The new Grainger dining commons will be conveniently located on the first floor towards the south end of the addition (corner of Johnson and Park St.). The dining commons will occupy over twice the space as the existing deli and provide seating for over 200 people, compared to the meager 32 seats offered now. For your entertainment, cable-access televisions will also be integrated throughout the dining commons area which will allow you to catch up on the daily news during your lunch hour. The new dining commons will also be complemented with a separate coffee bar (replacing the existing coffee cart) which the Wisconsin Union plans to open from 7AM to 7PM daily. The new facility is just the beginning; there will also be lots of renovations to the existing Grainger facilities as well. Quite possibly the most exciting addition to Grainger for undergrads will be the completion of a new undergraduate student lounge. Located on the first floor in 1205B (location of the old deli three years ago for the few undergrads who may remember), the central undergraduate student lounge will attract students at all times of the day. The new student lounge will be furnished with at least five couches, coffee tables, larger work tables, and cable-access televisions. In addition to serving as a common social area, the student lounge will provide offices to all undergraduate business student organizations. Surrounding the common area will be 11 offices that will house one to two organizations each. Each office will feature tall, glass doubledoors which open into the lounge area to make the setting even more inviting by encouraging interaction between the student organizations and the

BUSINESS MAGAZINE

Vol. 1 2008

Grainger Addition Quick Take

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undergraduate community as a whole. The lounge will also have direct access to the new courtyard. It has been three years since Grainger has had any green grass to speak of and the new courtyard will be bigger and better than the old one. Located in the same place, the green space will be larger and the courtyard will allow direct access from Grainger to Johnson Street. Look for this space to be used during those warm spring and fall days by students craving the outside. There will also be relocation of existing offices. With all of the MBA operations moved to the new facility, much of the existing Grainger Hall will be available for undergraduate programs to expand. Already completed is the Huber Undergraduate Computer Lab, located just beneath Grainger Library. The old computer lab, 1295 Grainger, will be renovated into a medium sized lecture hall. As of August, the 3rd floor in Grainger will be the new home of the undergraduate student services. The Undergraduate Academic Services, Accenture Leadership Center and the International Programs Office will all be moving there. The Business Career Center, while not moving, will be expanding into the space of the former MBA breakout rooms. Steve Schroeder, director of Undergraduate Business Career Services, is excited about the extra space because it will allow more employers to conduct interviews on campus directly following the career fair, when interviewing is the busiest. The Grainger Hall addition will be right in line with the University’s overall plan to build environmentally appropriate buildings as they expand throughout campus. The addition is “built to last forever” and will incorporate features which will make it more sustainable in the future as well. The most noticeable improvement will be the incorporation of daylight into more than 90 percent of the new space. As can already be seen from the outside, the new facility will have many large windows on each floor. The common areas including the atrium, dining commons and plenary room will each receive lots of natural light. The entire building will also include many clerestories to guide natural light from room to room. Clerestories are

high walls with a band of narrow windows near the ceilings. These windows will allow natural light to travel from outer rooms with windows into inner rooms, hallways, etc. without creating distractions and compromising privacy. The common areas on the first two floors will also be complete with terrazzo flooring, which is made of small pieces of marble embedded in mortar, requires a larger initial expense, but generally has a longer life and less expensive upkeep from year to year. The infrastructure of Grainger Hall will improve as well. If you ever find yourself taking the elevator to the third floor far too often, you are not alone. One student interviewed admittedly did not know the location of the stairwells for the entire first semester he took classes in Grainger. The addition will encourage students to use stairwells again. The new centrally located stairwell will have access to all of the floors in Grainger. The stairwell will not only be centrally located, but will have windows on each floor that will entice you to take the stairs rather than use the elevator.

The most noticeable improvement will be the incorporation of daylight into more than 90% of the new space. There is little doubt that the new addition to the Wisconsin School of Business will enhance the experience of all business students. From the aesthetic additions of a water-wall and a fireplace, to the functional addition of classrooms and meeting spaces, Grainger Hall will be a premier destination on campus. The combined beauty and functionality of new addition will also help to symbolically represent the Wisconsin School of Business as one of the elite business schools in the country. According to Steve Schroeder, Assistant Dean for Undergraduate Programs, “the new addition is a win-win for the entire business school.” The undergraduate program, MBA program, student organizations, and all of the affiliated services of the Wisconsin School of Business will experience more space and will be better able to carry out their various activities. The opening of the new addition in the fall semester of 2008 is much anticipated by the entire business school community.

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Grainger Hall Addition: photos

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Chandelier hung in the reception of the dean’s suite.

The new atrium will be filled with common areas for people to socialize and relax.

Reception desk in the dean’s suite.

The atrium will include a one-story waterwall.

New coffee bar (left) and dining commons (right) located at the southeast corner of the Grainger Addition.

The plenary room will also function as an MBA lounge and have its own fireplace.

Professor

Spotlight

BUSINESS MAGAZINE

Vol. 1 2008

A Minute With Mucklow By Andrea Webb

Are you tired of hearing that same-old Wisconsin accent? It’s possible that you find yourself falling asleep in class to the sound of a nasally-accented professor that has an incessant need to emit air through their nose as they speak. If traditional Wisconsin speech is beginning to drain you, maybe you should sign up for Finance 300 with Professor Belinda Mucklow. Her refreshing British accent is sure to keep your attention and her engaging lectures are worth the walk to class. Chances are, if you haven’t already had class with Professor Mucklow, you soon will. Finance 300 is one of the general business core classes required for all business majors. Professor Mucklow is a Wisconsin School of Business senior lecturer in Finance and has taught at UW- Madison for 18 years. Professor Mucklow began her studies in England at Southampton University where she received her undergraduate degree in Biochemistry. She soon decided that washing out test tubes was not something she wanted to do for her career. She continued her education at Bradford University in England where she received her MBA in operations research. Between receiving her MBA and ultimately her PhD in accounting from the Johnson Graduate School of Management at Cornell University, she had many unique experiences. From managing a tennis club to running a hotel, Mucklow’s experiences are the basis for many great stories. Her parents immigrated to Bermuda, and after she received her MBA, she also went to Bermuda and spent a little time working for her father. In Bermuda she applied and was hired as an accountant - after only one accounting course in college. She was able to “convince” them that she was qualified to take the position; by saying something to the affect of, “of course I’m qualified, I have an MBA.” She spent two years as an accountant, which served as the impetus to her interest in accounting and finance. While in Bermuda, Mucklow became intrigued by the sailboats that were constantly arriving and leaving through the ports. After seeing one of her friends sailing, she decided to take a year off to sail. Her sailing adventures took her across the Atlantic, Mediterranean, and Caribbean and today she is a strong advocate for taking time off from school or work to follow your dreams and do something you truly enjoy.

Mucklow is well-known amongst the students for her various life stories and real life approach to Finance. She incorporates games into her daily lectures and offers much “unsolicited advice”. She is highly regarded amongst the student body. “She’s awesome. She keeps you interested in the material and she has a really interesting life story,” business student AJ Stoll comments, “you learn a lot of random tidbits about foreign countries. I loved it [Finance 300] – she’s a really good professor.” If you were around Grainger about 3 years ago you may remember Professor Mucklow’s furry friend – her golden retriever, named Weber – who was in attendance in her daily lectures. Professor Mucklow was training Weber to be a service dog for the disabled and he accompanied her at all times. Weber quickly became a companion of many students. It wasn’t uncommon to have Weber sitting at your feet gnawing on a bone or slurping from his water bowl during lecture. Mucklow recalls that one of the biggest challenges in training Weber was to teach him that he was not allowed to sleep on her bed. Since Weber thought he should have all of the rights of a person, this proved to be a difficult task. Professor Mucklow created an area right next to her bed on the floor for Weber. He was insistent upon sleeping on the bed next to her, presumably because he wanted to be near her. So her next attempt to train him to sleep on the floor was to lie on the floor with him until he fell asleep, and then go to bed. This didn’t work. More drastic measures would be needed to keep him off the bed. Professor Mucklow realized that Weber has great fear of the vacuum, so he would surely not want to sleep on the bed with the vacuum cleaner too. She put the vacuum cleaner on the bed only to find out that Weber wasn’t afraid of it unless it was turned on. She finally gave up one night when she had fallen asleep on the floor next to Weber only to wake up in his dog bed, while he spent the night comfortably in her bed. While Professor Mucklow has many entertaining stories, she also takes a very holistic approach to teaching. With a very lively spirit, she actively finds new ways to connect with the students in her lectures. She says that lecturing can often become tiring if the flow of energy is just going one way; student interaction helps create a reciprocal process which energizes her. Mucklow encourages all students to enjoy the process of learning and to continue to do so throughout their lives. She believes that the undergraduate business students here at UW Madison could compete with anyone, anywhere. Mucklow says that, “If you set the bar high, the students will jump and reach it.”

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B-School Facilities: From Past to Present by: Peter Olesen Since the University of Wisconsin Board of Regents first approved the creation of the School of Commerce in 1900, the business program has been searching for a home of its own – that is until Grainger Hall opened in 1993. From 1900 through 1905, offices and classes of business professors were held in Bascom Hall, Library Hall and the Law Building. Starting in the fall of 1905, the School of Commerce moved into the 3rd and 4th floors of North Hall, located near the top of Bascom Hill next to Education. As enrollment in the School of Commerce grew, so did the need for more space. In a letter dated April 17, 1907 to the board of visitors, Dr. D.O. Kinsan stated:

Sterling Hall

“At present the faculty of the School of Commerce consists of eight professors and two instructors. Of these, four are located in North Hall, one in South Hall, one in the Library building and two are without offices.” I

The School of Commerce was the name of the business program from 1900 until the name wasofficially changed to the School of Business in 1966. In 1914, the Board of Regents approved the construction of a new Physics or Medical building. With the College of Letters & Sciences having been confined to three buildings at the time, Main Hall, North Hall and South Hall, most departments were in dire need of expanding their facilities. The new building, Sterling Hall, was completed in 1917 with the Physics Department occupying the first and second floors. At first unassigned, the third floor was allotted to Economics and Sociology and the fourth to the School of Commerce. Meanwhile, the School of Commerce kept growing in size. Despite moving into the fourth floor of Sterling Hall just two years earlier, the School again needed more space and there began to be calls for a building devoted entirely to the School of Commerce. In a December 1919 article titled “Startin’ the Ball A’ Rollin” in Commerce Magazine, pleas for a Commerce building were made:

eventually spearheaded by a faculty member who will always be remembered as a great contributor to the development of the School of Commerce. First joining the faculty in 1912, former Dean Fayette H. Elwell is often attributed with being the person who brought the School of Commerce its first home of its own. Professor Elwell fought simultaneously for a new home for the School of Commerce and for the School to separate from the College of Letters & Science, which it had been a part of since its creation in 1900. The School of Commerce finally became its own entity in 1944. Professor Elwell was named the first dean of the School of Commerce but another decade would pass before he would be granted his other wish, a home of its own for the School.

“Although this floor and a quarter in the PEP Building (Sterling Hall) is mighty nice and all that, it is not large enough….. We want a whole building of our own. We want a Commerce building. And isn’t that reasonable?”

A decade later, with the school now officially a separate entity, Dean Elwell was still lobbying for a new commerce building. In an article in the Wisconsin Alumnus, 1946, Dean Elwell expressed the dire need for a new building:

Another editorial in Commerce Magazine of 1920 read: “Will the Board of Regents and the Legislature authorize a new commerce building? That we need it, no one can deny. Will we get it?”

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The editorial also called for each student to contact their state congressman to petition for a new building. Many such articles and calls for petitions were made during the 1920’s and, while not successful, built a movement that was

After years of petitions, editorials, and articles the first major breakthrough in the pursuit for a new building came in December 1938, when Professor Elwell, accompanied by another professor and five students, attended a Board of Regents meeting to present the need for a new commerce building. As a result of the meeting, the Board of Regents agreed that the University President be instructed to urge the legislature to make provisions for a new commerce building.

Commerce Building had the first known classrooms on campus to provide writing desks for the left handed. “This year (1946-47) our attendance is twice what it was in 1939-1940 and we expect enrollment beginning in the fall of 1947 will double the current enrollment… we have been able to find no better place for an accounting laboratory for our sophomore class than in one of the recreation rooms under the stadium… and I agree that it is a long arduous walk from the basement of the stadium to the fourth floor of Sterling Hall.” After the end of WWII, with enrollment having rebounded across the university to pre-war

Dean Erwin Gaumnitz in front of Commerce

levels, classes and offices for the School of Commerce were located in 29 different buildings across campus, including several WWII temporary buildings. Finally, in 1952, the state building commission allotted $1.75 million for a new commerce building. The regents approved the plans in 1954, fulfilling Dean Elwell’s dream. “Thus the ‘battle’ of over 30 years for suitable quarters for the School of Commerce was won!” Elwell said. The building, named Commerce (and later renamed Mark Ingraham Hall in 1993) opened for classes February 1, 1956. The Milwaukee Journal reported: “Now, for the first time in 56 years, commerce classrooms, faculty offices and administrative units have been combined under one roof.”

J.H. Findorff was the general contractor for both the Commerce Building (Ingraham Hall) and Grainger Hall 37 years later. Fees paid for the Commerce building were $900,842 compared to $22.2 million for Grainger Hall. But again, this unique arrangement didn’t last long. By 1958, the School of Commerce had already outgrown the facilities provided by the Commerce building and once again began expanding offices and classrooms across campus. The School of Commerce began taking space in Bascom Hall, Infirmary, Music Hall and Van Hise. Robert Krainer, Professor in Finance, spent many years teaching in Commerce and in other campus buildings. Having joined the faculty of the business school in 1965, Professor Krainer has spent the last 43 years teaching at UW. Now in his sixth office, Professor Krainer remembers having three offices in Commerce and two in Bascom prior to the move to Grainger Hall. Professor Krainer especially remembers the lack of air conditioning in Commerce and Bascom. On warm days when windows were open the wind would cause his papers to swirl about in his office; conversely, in the winter, heavy snow would cause leaks in the ceiling of

Classroom in Bascom

his office. Professor Krainer enjoys the luxuries of Grainger Hall as a new building, but often misses the location advantage Commerce had on campus. “For people in Finance, the location (of Commerce) was nice,” said Professor Krainer. “With economics located across the street and sociology nearby as well, we were much closer to people in related areas.” The process of lobbying for a new home for the School of Business began all over again in the 1980’s, starting with a series of meetings by the Board of Visitors in May of 1985. The state building commission in March, 1987, was quick to approve the building of a new facility with a budget of $26.3 million, provided that $8 million be raised in gift funds. The construction of Grainger Hall faced its own challenges, having to secure private funds before certain stages of the building process could be completed. In 1990, the University even had to threaten Walgreens with condemnation before they would sell their property located on the present site of Grainger. Five years later, with the budget $10.5 million more than the initial proposal, Grainger Hall was completed with a final budget of $36.8 million. Classes were first held in Grainger Hall in August 1993.

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ne b.Li e h t by: staff

TOP 10 WAYS...

You Know You’re in

GRAINGER

10 9

8

7 6 22

Private Events in the Atrium You know the feeling… it’s 8 pm and you’re starving, but you didn’t have time to eat dinner before you had to dash out the door to make it on time to your MHR 300 group meeting in Grainger. As you stroll in, attempting to not appear rushed, you see a glorious spread of sandwiches, nachos, cookies, and soda beckoning to you… that is, until you see the “Private Event” sign. Evening MBA students beware… we’re all jealous.

Tour Groups Gazing into Classrooms While their goal is simple – discretely peer into a classroom to see what college classes are like – the end result of curious high schoolers is quite the opposite. Sorry professors, it doesn’t really matter if you are preaching such fascinating topics as “The Four P’s” or “How to calculate Present Value,” my attention is absolutely going to rest on the door as long as someone is peering through. One senior commented, “It’s like an addiction, I just have to look.”

Cell Phone Users of the Undergrad Lab It’s not officially a cell-phone free zone, but everyone barring about 5 people have come to see the undergraduate computer lab as a place that doesn’t include those little electronic devices. Would someone forward the memo to those 5 that didn’t get it?

Recruiters in the Atrium Isn’t it amazing that a free cookie and a pen can motivate you to talk to almost anyone?

World Clocks in the Atrium Whew! That was close. I couldn’t remember what time it was in Hong Kong, Moscow, London, or Madison. Now I know all 4!

5 4

3 2 1

The Coffee Cart Let’s face it, most of us aren’t morning people. Fortunately the coffee cart helps us to at least pretend that we are. Now, if we could just have it delivered to the 1100 nosebleed seats… hmmm… there might be a market there.

Sleeping in the Nosebleed Seats of 1100 Grainger We’ve all been there… you had a late night last night because you put off that paper you should have done two weeks ago. Now you’re in the nosebleed seats of 1100 Grainger because you woke up late and there was nowhere else to sit. Let’s be honest, at this point chances are slim that you’ll be staying awake for this lecture, so I’d like to make a motion to have pillows installed in the back 5 rows of seats. Who’s with me?

Too Many People, Too Few Tables A sandwich in the Grainger Deli… $4.35. A soda out of the vending machine… $1.50. Finding a place to sit in Grainger over the noon hour… priceless.

The Suits There is no denying it, the School of Business is the best dressed on campus. Where else can you walk into class in a business formal suit and not receive the “What are you wearing” look from your fellow classmates?

Construction sounds, hard hats, and padded elevators Ah yes, the trifecta. Those sights and sounds that we have so lovingly associated with Grainger the past two years make for a perfect # 1 on this list. Why # 1 you ask? No, it’s not because many of us fantasize about bouncing off of the elevator walls. The real reason is that the new deli, student lounge, and classrooms are going to give us a whole new list of Top 10 Ways You Know You’re in Grainger next Fall!

comic by Ryan Lynch BUSINESS MAGAZINE

Vol. 1 2008

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The Fun Page LOGIC PUZZLE

HORIZONTAL CLUES: 1. Sport that helps many do business

Five families own businesses on University Avenue. One of the businesses is a coffee shop. University Avenue is a one-way street from east to west and their businesses are all on the same side of the street. Each store is open a different day of the week. From the following information, determine where each business is located, the name of the family that owns the business, the color of each business’s awning and the day of the week that the store is open.

1. 

3. A small specialized segment of the target market 4. Loren Kuzuhara has this in his office 5. Famous business movie by Orson Wells 6. Fourth and fifth floors of Grainger have these to keep clean

The business with the purple awning is two houses east of the business open on Tuesdays.

2. 

The Smith family business is open on Thursdays and is three businesses east of the Johnson family business.

3. 

The business open on Mondays is the second business you will pass while driving on the street.

4. 

The business with the green awning is a restaurant and is located three businesses west of the business with the blue awning.

5. 

The yellow awning has non-primary colored awnings on either side of it and is open on Fridays.

6. 

The business open on Wednesdays is between the business open on Fridays and the Nelson family business.

7. 

The Anderson family owns the middle business, two houses west of the family that owns the clothing store.

8. 

The Jones’ business is next to the grocery store.

9. 

The business open on Tuesdays is three businesses west of the book store.

10.  The business with the red awning is east of the business with the blue awning.

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2. Type of knot used with ties

All answers located on Page 9

7. National business magazine produced bi-weekly 8. This company made a hostile bid to take over Yahoo 9. A major U.S. stock market 10. Last name of the director of the Wisconsin School of Business Library 11. Years in a row Bill Gates was the world’s richest man

S U D O K U

BUSINESS MAGAZINE

Vol. 1 2008

VERTICAL CLUES: 1. The largest public company in the U.S. 2. The world’s richest man 3. This popular site among college students is the fifth most valuable Internet site in the US 4. First name of U.S. Treasury Secretary 5. Shoes most commonly found in the boardroom 6. The eastern most city on the Grainger atrium clocks 7. Rated by U.S. News & World Report as the #1 best undergraduate business program 8. Last name of the Federal Reserve Chairman 9. Acronym for an analysis of an organization’s operations 10. Disney partnered with this company to improve innovation

CROSSWORD

Crack the code by figuring out the following quote. Each letter represents a different letter of the alphabet. Figure out the words by the placement or prevalence of letters and punctuation. Each letter only corresponds to one other letter. If M stands for B, B does NOT necessarily stand for M. For example: “HOLPPF LQWTHNDMHH” would be “SCHOOL OF BUSINESS.”

CRYPTATION

“C T M L S , U QYM D K , T K A U DT Z K . PJ F LT K ’M E K J C Q M T U U PJ F Z YD U N . T K PJ K D C S J M S Q K E Y M S D P A J QY A DYM Q K DA N J Z X DAQ J L ZQ M P.” – A J K T UA M Z F X V

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MEET THE STAFF

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b.Liner: Jacob Fowler Year: Junior Major: Journalism, Business Certificate

b.Liner: Rachel Hartjes Year: Junior Major: Accounting and Specialization in Health Care Management

After graduation, Jacob hopes to write for a magazine or chill in a hammock in Hawaii. Above all, Jacob wishes he had the ability to fly. Jacob enjoys playing basketball and golf, and dreams of one day owning the Bat Mobile. In the meantime, Jacob will continue passing his time in the Grainger Atrium, writing up a storm and reading ESPN Magazine.

Rachel is a busy student with little free-time, a movie connoisseur, and a video game fanatic. Upon graduating, Rachel hopes to travel for a month or two. She would like to work for a public accounting firm for a few years, and then shift her focus to health care management. If Rachel could have any super power, she would like to read minds.

b.Liner: George Ryan Year: Freshman Major: Real Estate

b.Liner: Kimm VanDen Heuvel Year: Junior Major: Retail, Italian, and Certificate in Business

b.Liner: Andrea Webb Year: Junior Major: International Business and Marketing

George is a member of the UW baseball team and Potbelly connoisseur, milkshake necessary. He aspires to attend law school or graduate business school, while later pursuing Real Estate in the New York metropolitan area. In the meantime, you can catch him at his favorite Grainger hang-out, the Library, reading The Economist, tapping his fingers to Kenny Chesney.

In Kimm’s mind, Carrie Bradshaw said it best: “I like my money right where I can see it, hanging in my closet.” As a fashion connoisseur, she enjoys reading W magazine and keeping Starbucks in business with her daily iced, grande lattés. In ten years, Kimm hopes to be living the big city life writing for a major fashion magazine or working as a fashion buyer.

Andrea is a busy bee involved in many student orgs around the business school. A Starbucks run is always a much appreciated break after studying at her favorite spot on the upper floor of the Grainger Library. Upon graduation, she hopes to launch her career in a big city living on the top floor of a sky rise apartment. Andrea loves to travel and lives by the quote “attitude is a little thing that makes a big difference.”

BUSINESS MAGAZINE

Vol. 1 2008

b.Liner: Jenna Lenz Year: Junior Major: Accounting

b.Liner: Jake Martin Year: Senior Major: Management and Human Resources

b.Liner: Peter Olesen Year: Junior Major: Finance and Real Estate

When in Grainger, you will most likely find Jenna reading on the second floor window bench enjoying her addiction: the crossword puzzles in People magazine. If Jenna has headphones on, she’s jamming to country music because she is a sucker for it! She has plans to attend law school and sees herself working for a Big Four accounting firm.

When Jake isn’t running around Grainger, he is more than likely frequenting his favorite State Street hang-out, Qdoba, where he “loves how their burritos are as big as your head.” Jake is also involved in SIFE, the Make a Statement Campaign, and competes in business case competitions.

Besides Finance and Real Estate, Peter is a golf and travel enthusiast, coinciding with his favorite quote: “Stay curious and you will travel to the ends of the earth.” After graduation Peter plans to bum around the world for a few years, and he has always dreamt of being just like Peter Pan…ironic? Perhaps after all his traveling and acquired knowledge, Peter will find himself on the cover of his favorite magazine, Rolling Stone.

b.Liner: Lynn Klas Year: Junior Major: Bachelor of Science in Art, Business Certificate

b.Liner: Katie Pawley Year: Junior Major: Art History, Design emphasis

b.Liner: Lexi Wachs Year: Junior Major: Art and Graphic Design

Lynn Klas is one of the b.Line’s finest graphic design students. Lynn would like to be a freelance designer, and she will most likely be seen cruising down the highway in her Mazda 6 dream car, sipping her favorite Starbucks classic, the caramel macchiato. Lynn’s words to live by: “Don’t sweat the pretty things and don’t pet the sweaty things.”

Katie makes up 1/3 of the b.Line creative design team. Katie aspires to pursue a career in Interior Design, focusing on decorating and remodeling. Her favorite course at UW was Environmental Textiles and Design 220, 3-D design, where she was able to design and create a model of a standing beverage bar. In the meantime, Katie will continue living the college life, hanging-out with friends, and jamming to the Goo Goo Dolls.

Lexi is one of The b.Line’s talented graphic designers. She has hopes to jump-start her career as a designer, moving to New York City or Chicago upon graduation. Lexi dreams that Brett Favre will one day lead her class in discussion. In the meantime, she will keep wishing for summer days on the Terrace.

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b.Line Staff b.Line staff would like to thank the following for their support: Jim Johannes, Senior Associate Dean and Associate Dean for Undergraduate Programs Steve Schroeder, Assistant Dean of Undergraduate Programs and Director, Undergraduate Career Services Wisconsin School of Business Career Center Wisconsin School of Business Marketing Services UW Design Club Faculty Advisors: Loren Kuzuhara and Marty Blalock Arketype Inc., Green Bay, Wisconsin

WATCH FOR THE NEXT ISSUE COMING OUT IN FALL 2008!

BUSINESS MAGAZINE

Vol. 1 2008