Category: Student Organizations

APMP Team Repeats Win in New York City

Cory Sullivan participating in Nasdaq closing
Cory Sullivan participating in Nasdaq closing

March 31, 2015 – It’s been said the only thing more difficult than winning a championship, is repeating. That is exactly what an Applied Portfolio Management Program team from Michigan Technological University has done.

For the second year in a row, the School of Business and Economics’ APMP team won the global investment competition at the Global Asset Management Education (GAME) Forum V, hosted by Quinnipiac University in New York City. The event, held March 19-21, attracted more than 1,200 students from 140 colleges in 40 countries and 39 states.

While in New York, the team participated in the NASDAQ Stock Exchange closing, attended presentations by some of the biggest names in the world of finance and visited with  APMP alums.

Keynote speakers included: Guy Adami, chief market strategist for Private Advisory Group and contributor to CNBC’s Fast Money; Joseph Terranova, chief market strategist for Virtus Investment partners and another “Fast Money” contributor; David M. Darst, former managing director and chief investment strategist for Morgan Stanley Weather Management; Abby Joseph Cohen senior investment strategist and president of the Global Markets Institute at Goldman Sachs; and Tom Keene, editor-at-large at Bloomberg News.

Tech Team

The APMP sent three students to the competition, Cory Sullivan, who participated in the NASDAQ closing ceremony, Heath Johnson and Derek Menard.

The results of the team’s investments were impressive according to Dean Johnson who is the James and Dolores Tretheway Professor in the School of Business and Economics and the APMP’s founding director. He says what sets the competition apart is the fact the students are investing real money–a lot of real money.

“The team manages $1 million through the Michigan Tech Fund,” Johnson explains. “These funds were explicitly donated to be managed by the students.”

He says the APMP team has done well with the fund’s money. Johnson says the team practices the concept of Risk Adjusted Returns, In which an investment’s return is measured by how much risk is involved in producing that return. Even more impressive is the fact the students themselves make all investment decisions. “They have complete control,” Johnson says. “They are hired by the APMP Advisory Board, but the students make each and every decision.

Heath Johnson, the only returning member from last year’s winning  team, says while there was a sense of pressure to repeat, the experience of having done it before was beneficial.

“After experiencing the competition last year I knew that we had to be mindful not only or our returns, but also the risk subjected to our portfolio.” Heath Johnson says.

“Our team really wanted to repeat last year’s impressive performance. Winning two years in a row out of 141 schools was incredibly exciting. We were able to outperform the market through very consistent returns while minimizing risk.”

NASDAQ Closing

Cory Sullivan says the overall experience was impressive on several levels. “From participating in the NASDAQ closing and having my picture appear in Times Square, to receiving advice from the biggest names in the finance industry, I realize the great opportunities APMP provides students,”

Indeed, the students hardly have time to enjoy the repeat victory. Heath Johnson, president of the SBE’s Finance Club and other members of the club traveled to the Chicago the following weekend for their annual trip to visit investment firms. Other members of the APMP traveled to Detroit Thursday and Friday to compete in the ENGAGE Investment Education Symposium and competition, hosted by Wayne State University.

Sullivan says the New York trip is just one of many experiences available to the team.  “We interact with great guest speakers on campus and via video conferencing, but we also get the opportunity to travel to both Chicago and Detroit to interact with investment professionals. “

Professor Johnson echoed that sentiment. “APMP students are gaining the experiences and education to be successful in the finance industry. Indeed, their success is already evident in their investment results.”

This article was written by Mark Wilcox and originally published on Michigan Tech News.

“So you want to be a CFO…”

On September 11th, Barbara Johnson-Rossi spoke with Accounting students about her field, and how they can aspire to be Chief Financial Officers. Johnson-Rossi worked for nearly 30 years within the healthcare industry as an Internal Auditor, Manager of Accounting, Director of Operations, and CFO. Now retired,  she maintains 8-10 hours/week of consultancy work helping with payer contracting and managing data around cost-of-care.

Barbara Johnson-Rossi, former CFO for Essentia Health, speaks to Michigan Tech's accounting students.
Barbara Johnson-Rossi, former CFO for Essentia Health, speaks to Michigan Tech’s accounting students.

Based on popular demand, Johnson-Rossi will be presenting once again, this time to the Kappa Sigma Iota (KSI) Accounting Club and members of the greater Tech community. Her discussion will cover the various career options available within the field of Accounting, including a deeper look at the jobs she has held. KSI Accounting Club welcomes any interested parties to join them in welcoming Barbara Johnson-Rossi back to campus this Wednesday, October 1st at 5:30 pm in Fisher Hall, Room 131.


Target Enterprise Project offers real world experience to ITOxygen members

Where does a giant international retailer turn when it needs innovative IT support?  Michigan Technological University, of course.

Target Corporation, with international headquarters in Minneapolis, is the first retail firm to participate in Michigan Tech’s signature Enterprise program. In the Enterprise program, teams of students work with a business or industry sponsor on a real-world problem that the sponsor would like the students to help solve.

ITOxygen is an Enterprise that specializes in information technology (IT) solutions. Their motto: We breathe new life into information technology projects.

ITOxygen Enterprise team members work on an IT project for Target.

Target actually presented ITOxygen with several problems involving mobile app development and computer infrastructure. Over the school year, the students developed an app for the iPad that measures wi-fi connectivity throughout Target stories. Another app lets shoppers with Android smartphones build a shopping list and share it with others.

The shopping list app will be particularly useful for event planners, teachers and parents buying school supplies, or groups of students or others living together.  “With it, you can avoid buying 200 boxes of Kleenex and no crayons, Russ Louks, ITOxygen’s advisor, explains.

The ITOxygen students also wrote scripts to automatically deploy servers nationwide. Then they were invited to present their work to a meeting of high-level corporate executives.

Target not only put money into the project, they really integrated the students into the corporate IT structure, says Rick Berkey, the Enterprise liaison between Michigan Tech and corporate sponsors.  “The students are working right along with Target IT professionals, learning the language of the industry,” Berkey says. “That level of support and time commitment is unusual.”

Target has enjoyed recruiting for technical talent at Michigan Tech, says E. B. Hakkinen, process consultant for Target Corporation’s Technology Solutions. “Target was interested in continuing to build upon our strong relationship with Michigan Tech, she explains. “We wanted to deepen our partnership and technology brand on campus.   We saw a unique opportunity through the Enterprise Program, specifically ITOxygen, to brand Target as an employer of choice for technology students, while collaborating with Michigan Tech students and giving them a first-hand experience of what it could be like to work for Target.”

“We learned a lot in our first year, 2012-2013, working with ITOxygen,” she continues. “This past year we experienced success with all of our ITOxygen projects. We found the best approach is to allow the students to be innovative in their solutions while we provide the support and tools necessary for them to be successful.  We look forward to continuing our relationship and seeing innovative solutions from the ITOxygen students in the coming school year.”

As Berkey puts it, without a hint of a grin, “the ITOxygen students have been right on target.”

One of the students, David Shull, a computer engineering major, was especially impressed with Target’s commitment to integrating technology into retail sales.  “It’s really exciting how innovative they’re being in mobile and web technologies,” he says.

Shull feels that the Enterprise project teaches skills that are hard to learn in a traditional classroom setting. “The most important thing I gained was the experience working on a corporate project with people from all over the country,” he says.

Projects like ITOxygen’s work with Target prepare students for their future in the working world, which is just what Target—the first retailer to come to Michigan Tech’s Career Fairs–wants. “Target is recruiting skilled IT employees,” says Berkey. “It’s more than a retail store.”

Shull says students need the kind of experiences the Target Enterprise project offered. “It’s too easy for students to think they know what ‘real’ work is like,” he says. “I hear students complain about how a concept they’ve learned won’t be of use in the real world. Opportunities like the Target Enterprise project give students hands-on experience that is guaranteed to be applicable in the real world, and demonstrates the value of concepts that were learned previously. They also facilitate self-learning, engineering management and other key skills.

“Plus—there is something really cool about walking into a Target store and knowing that you wrote an app the employees or shoppers are using.”

This story was originally posted in Michigan Tech News and written by Jennifer Donovan. To see the original story please view this link.

2nd Place Win at Design Expo

A team from the Business Development Experience Course (BUS 4992) tied for second place in the category of Design Expo Image Contest, in 2014’s Design Expo.  This accomplishment is particularly impressive, as over 600 Michigan Tech students across all disciplines competed in this year’s hands-on, discovery-based learning program, hosted by the Institute for Leadership and Innovation and the College of Engineering.

The team, titled “Balise and RFID Use in Rail Systems,” consisted of members Frank Kampe (’14, BS in Marketing), Min Li (’14, BS in Operations and Systems Management), Daniel Holmberg (’14, BS in Management), and Kevin Heras (projected graduation: Fall 2014, majoring in Management).  In order to participate in the Design Expo, team members took the Business Development Experience two-course sequence, where business school students ascertain the commercial viability of potential projects.  Since the implementation of the courses, business school students have been teaming up with the Enterprise and Senior design project teams to look at their technologies from a business perspective.

Team Advisor and Assistant Professor of Entrepreneurship and Innovation, Saurav Pathak, was pleased with his students and the work they conducted.  “This group in particular made valuable recommendations to Technical Expert Network (TEN) on how to expand the use of Radio Frequency Identification (RFID) technologies in the US rail industry,” Pathak remarked.  He added, “The fact that business school students were placed as award winners in an event that predominantly highlights the technological feats at Michigan Tech is proof that there is value in ascertaining the business prospects of these technologies.”

Congratulations to the team on their award!