All posts by Shannon Rinkinen

Michigan Tech Mourns Loss of Stanford N. Phelps

Amanda and Stan pose with a dinosaur at National History Museum
Stanford N. Phelps (right), late chair of S.N. Phelps & Co., with Michigan Tech alumna Amanda (Vogt) Conner ’10 (middle), vice president of S.N. Phelps & Co.

Stanford “Stan” Phelps, chair of S.N. Phelps & Co., passed away June 6, 2019, at age 84. A graduate of the Phillips Exeter Academy, Yale, and Harvard, Mr. Phelps was a pioneer of the Wall Street junk bond market and was known to Michigan Tech as a supporter of the Applied Portfolio Management Program (APMP) and its students. He hired School of Business and Economics interns and graduates who went on to thrive in the financial industry, including Amanda (Vogt) Conner ’10, Vice President of S.N. Phelps & Co. She says of Stan: “He was my boss, mentor, and friend. Stan helped develop my investment skillset and shape my career, while also teaching me the importance of philanthropy. I am forever grateful for the nine years I was able to learn from him.”

Dean Johnson, dean of the School of Business and Economics, adds, “Stan lived a principled life and sought to pass these principles on to future generations. His impact on the careers of many APMP students is just one of his many legacies. We were pleased that this year’s APMP team was able to meet with Stan and Betsy this past spring in Greenwich. Our heartfelt condolences are with Betsy and the entire family.”

Stan Phelps’ obituary, which appeared in The New York Times and Greenwich Time, is below:

Stanford Newton Phelps died peacefully at home in Greenwich, Connecticut on June 6, 2019, at age 84. He is survived by his beloved wife, Elizabeth Richmond Phelps; his son, George; his daughter, Catherine, and son-in-law, Daniel McNamara; his grandchildren, Maxwell, Garrett, and Ford; his brother, Barry Phelps; his sister Jeanette, and brother-in-law, Whitney Evans.

Mr. Phelps was chairman of the board of S.N. Phelps & Co., Commonwealth Oil Refining Company (CORCO) and Clear Springs Land Company, home of Clear Springs blueberries. His earlier career in the bond business included stints with Citibank, F. S. Smithers and Drexel Burnham Lambert where he started their high-yield bond department. He served as the second lieutenant in the United States Army from October 1956 to April 1957.

Mr. Phelps was born in Rochester, New York, the son of Jeanette Coon and Stanford Newton Phelps. The family moved to Detroit and later back to Rochester when Mr. Phelps left to attend Phillips Exeter Academy in 1948. He graduated from Phillips Exeter Academy in 1952, and subsequently from Yale University in 1956 and Harvard Business School in 1960.
Mr. Phelps was devoted to his church, First Presbyterian Church of Greenwich in Greenwich, Connecticut. Mr. Phelps was a generous supporter of his church and many educational and Christian organizations, including Hartwick College from which he received an honorary Doctor of Laws, Harvard Business School, Keck Graduate Institute where he was on the Board and received a Doctorate of Applied Life Sciences, honoris causa, The Madeira School, Navy Seal Foundation, Polk State College, and Yale Peabody Museum where he served on the Peabody Leadership Council. Throughout his life, however, his highest charitable priority remained his high school alma mater, Exeter.

In Mr. Phelps, Exeter lost one of its most loyal and enthusiastic supporters. The breadth of his commitments grew from a heartfelt devotion to education, his desire to improve opportunities for Exeter students and his deep respect for Exeter’s faculty. He was most proud of his Phelps Scholar-Athlete program through which he provided one hundred seven students with scholarships to attend Exeter. Through his philanthropy, Mr. Phelps sought to inspire others to support the school he loved. In an address to the student body in 2001, he put it this way, “You will be remembered for what you give – not for what you get”.

In all aspects of his life, Mr. Phelps was guided by two principles he learned while a student of Greek and Latin at Exeter: Athanatos esti psyche, “The soul is immortal,” and Nil sine Deo, “Nothing without God.” All those who knew Mr. Phelps will remember him and take comfort in these two phrases. He will be deeply missed by his family, his friends and by the school he loved.

A service in celebration of the life of Stanford Newton Phelps will be held at 11:00 a.m. on Wednesday, June 26, 2019, at First Presbyterian Church of Greenwich, One West Putnam Avenue, Greenwich, Connecticut 06830.

In lieu of flowers, contributions can be directed to the First Presbyterian Church of Greenwich (pcg.org).


School of Business and Economics Announces New Fall 2019 Programs

The Academic Office Building on Michigan Tech's campus is featured

To better serve and provide opportunities for STEM students, the School of Business and Economics (SBE) now offers a minor in business as an attractive addition for students of any major who will go on to work for a company or organization or start their own enterprise. The content allows graduates to differentiate themselves with a foundation of business skills.

In addition, our recently approved master’s degree in engineering management, a hybrid engineering-business degree, focuses on managerial knowledge, business literacy, and other relevant skills critical for successful operations in various engineering/technology-intensive industries.

Finally, to infuse technology into our accounting curriculum, new courses and content have been created resulting in the new concentration in data analytics. This fall, students pursuing a bachelor’s degree in accounting with also be able to earn an 18-credit concentration in data analytics. Those seeking to earn the Master of Science in Accounting degree will also be able to earn a graduate certificate in accounting analytics or forensic examination. “The concentration and certificate programs leverage accounting, information systems, and math coursework to help students acquire a valuable skill set encompassing databases, data cleaning and visualization, statistical programming, and analytical methods,” says program director and professor of practice, Joel Tuoriniemi. 

According to Dean Johnson, dean of the School of Business and Economics, these new offerings leverages SBE’s strengths as a business school embedded in a technological institution.

To learn more about any of our programs, please email business@mtu.edu.


Business Huskies Place Second and Third in State Project Competition

Earlier this month, Michigan Technological University’s School of Business and Economics (SBE) sent two teams of undergraduate students to Grand Rapids, Michigan, to compete in the final stage of the eighth-annual THE Project Competition, an annual collegiate project management competition hosted by the Western Michigan Project Management Institute Chapter.

From L to R: Keaton Thames, Erica Austin, Giselle Ulep, Skyler Nelson-Makuch, Sarah Koerber, Quinn Trumbower

Roger Woods, SBE faculty member who leads the opportunity each year, says that the experience engages Huskies in the practice of project management, develops their leadership skills, and provides them with a platform to demonstrate their abilities to business and community leaders.

Michigan Tech has competed in all eight of the competitions, placing third in 2018 and first in 2017.

THE Project scenario for 2019 was to develop a project plan to renovate an existing building on campus to LEED standards. Teams worked with subject-matter experts and stakeholders to develop a project plan using the Project Management Body of Knowledge published by the Project Management Institute. They are assigned a mentor and are judged by professionals at four different stages or “gates.”

Students faced competition from five other Michigan schools including Cornerstone, Ferris State, Grand Valley, Hillsdale, and Western Michigan.

“THE Project is probably the best college experience I have had outside of an internship for my future career in the project management industry,” says first-time competitor and Michigan Tech senior, Connor Green.

A group of five Michigan Tech students pose at competition.
From L to R: Amanda Vermeer, Amanda Sabol, Megan Twork, Connor Green, Hannah Badger
Team Extreme Makeover Tech Edition–comprised of Erica Austin (management, Sterling Heights, MI), Sarah Koerber (engineering management,Grand Blanc, MI), Skyler Nelson-Makuch (supply chain and operations management, Kalamazoo, MI), Keaton Thames (engineering management, Highlands Ranch, CO), Quinn Trumbower (engineering management, New London, WI) , and Giselle Ulep (engineering management, Beverly Hills, MI)–went from last place to the top spot in their division throughout the four competition gates, securing a position in the final three.

Huskies LEED the Way–a team, which included Hannah Badger (engineering management, Plymouth, MI), Connor Green (engineering management, Sandusky, MI), Amanda Sabol (engineering management, Utica, MI), Megan Twork (engineering management, Ravenna, MI), and Amanda Vermeer (engineering management, Sterling Heights, MI)–led their division from start to finish, also securing a spot in the final three.

Final: Huskies LEED second; Extreme Makeover third.

 


Marketplace’s Chris Farrell to Speak On Campus April 8

Chris Farrell next to a bronze Husky statue on campus

Farrell’s presentation, “Old Techniques and New Technologies: The Rise of the Creative Economy,” will focus on one of the most exciting economic trends of our era—the rise of an artisan, craft, and creative business economy. Craft businesses like brew pubs and handcrafted snow bikes aren’t quaint artifacts from another era. They’ve grown and expanded and moved from the economy’s tributaries into the mainstream. Equipped with advanced technologies, entrepreneurial artisans can sell into local, national, and global markets.

An award-winning journalist, Farrell is a columnist for Next Avenue and the Star Tribune. He has written for Bloomberg Businessweek, the New York Times, Kiplinger’s, and other publications. He is also economics commentator for Minnesota Public Radio and host of the series, “Conversations on the Creative Economy.” His most recent book is “Purpose and a Paycheck” (HarperCollins Leadership).


Business Huskies Travel to Silicon Valley for Spring Break

Image of bicycle outside Google headquarters
This spring break (March 11-15), the School of Business and Economics (SBE) is sending five undergraduate Huskies to the hub of innovation—Silicon Valley. Sarah Anderson (accounting and finance dual major), Hannah Badger (engineering management), Jacob Mihelich (accounting and finance dual major), Kalli Hooper (engineering management and marketing dual major), and Haley Hall (engineering management and marketing dual major) applied and were accepted to the Silicon Valley Experience (SVE), an annual trip.
As part of the application process, students created a two-minute video describing how they will share what they learned with the Michigan Tech community to contribute to the on-campus entrepreneurial ecosystem.

“I had been wanting to go on this trip since my first year on campus,” says Hannah Badger, who along with other business students, will also be sharing their travels live via the School of Business and Economics’ Instagram account (follow at @mtubusiness). She adds that her parents are proud of the professional experience she’s getting. 

Aerial view of Silicon Valley
The trip offers emerging business leaders an opportunity to go inside some of the world’s largest corporations including Netflix, Google, Facebook, Ford, Byton, Hewlett Packard, Twilio, and Capella, as well as Handshake, a Michigan Tech alumni startup. The tour showcases perspectives of a day-in-the-life of successful entrepreneurs, innovators, engineers, and business leaders. It is an interactive opportunity for students to discover more about a variety of industry settings, to sample innovative corporate cultures through tours and presentations, and to meet and network with successful Bay Area-based alumni entrepreneurs.

In total, 15 students across campus were accepted. Lodging, some food, and ground transportation to and from toured companies is provided. Students arranged and paid for their own air travel, although some limited scholarships were made available.

“The Silicon Valley Experience is Michigan Tech’s unique learning opportunity that helps students realize the formula of success = technology + business. Michigan Tech alumni currently working at companies in Silicon Valley escalate our students’ passions as entrepreneurial thinkers,” says Junhong Min, professor of marketing and SVE chaperone.

The opportunity is made possible in part through major gifts from alumni Rick Berquest, Tom Porter, and Kanwal Rekhi, and is a collaborative effort between SBE, Pavlis Honors College, the Innovation Center for Entrepreneurship, and the 14 Floors initiative.