Michigan Tech College of Business Newsblog

DECA Chapter Has Banner Year

Published May 16, 2013

Haley Florinki smiles on with Dean Klippel and DECA Advisor Becky Lafrancois after her 1st place finish at Internationals.

Michigan Tech’s DECA Chapter attended the Wisconsin State Career Development Conference this year with all members traveling to Madison, Wisconsin to compete during the spring semester. Members attending the event included: Brittany Barry, Angela Barr, Kaylee Betzinger, Haley Florinki, Frank Kampe, Gabe Kallungi, Sarah Ochs and Tom Simonsen.

Michigan Tech DECA students were very successful at the conference with all participating members taking home medals. Awards Received by each member are listed below:

Haley Florinki took home the gold in the Banking and Financial Services category. She received a plaque and three medals.
Sarah Ochs received the gold in a Business Research prepared event steaming from research conducted in her Marketing Research class with Dr. Jun Min. She received a plaque and three medals.
Tom Simonsen took an overall of second place receiving three medals in the category of Corporate Finance.
Brittany Barry received a medal in the Accounting Category with second place on her role play as well as placing in the top eight for her exam and being top eight overall. She took home three medals.
Frank Kampe participated in Restaurant and Food Management placing third place for his exam.
Angela Barr and Kaylee Betzinger worked as a team in their Business to Business event receiving a medal for being top eight in their event. Angela Barr also received a medal for being top eight in her exam for her category.
Gabe Kallungi participated in Restaurant and Food Service Management receiving three medals by placing third for his role play.

DECA Vice President Haley Florinki was the only Michigan Tech student to go on to the international conference. She traveled to Anaheim, California where she also took first place in the National Management Institute category. We are proud of DECA Chapter and look forward to their continued success and growth.

Tech in top 10 for ROI among Midwest schools

Published May 10, 2013

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In the News

MTU graduates Rosanna Chopp and Willow Carmody at this year's commencement ceremony.

What’s a university education worth? That’s a question often asked by students, parents and legislators.

According to 2013 rankings recently released by PayScale, Michigan Tech graduates rank 18th in the nation among 437 public universities in the return on investment (ROI) from their degrees. PayScale is a website that compares the cost of a college education to the salaries earned by graduates.

PayScale ranked Michigan Tech in the top 10 for ROI among Midwest schools. ROI is defined as the cost of attending college compared to the gain in income over thirty years of a college graduate over a high school graduate.

This year Tech ranked 77th among all 1,511 public and private colleges and universities evaluated by the website. Michigan Tech’s ranking in PayScale’s annual report rose from 102 among all universities and 44 among public universities last year.

“This is impressive,” said President Glenn Mroz. “It validates what we believe here at Michigan Tech, that we are truly preparing our students to take their place as well-educated citizens, to get jobs, earn good salaries and create the future.”

The report listed the typical starting salary of a Michigan Tech graduate at $56,000 and the thirty-year net ROI at $999,300.

In an interview on “The Daily Ticker” on the Yahoo Finance website this week, former Secretary of Education William Bennett said that the ROI is positive only for about 150 of the nation’s 3,500 institutions of higher learning. Michigan Tech is one of those 150. Bennett analyzed the ROI of colleges and universities for his book, Is College Worth It?

This article was written by UMC public relations director, Jennifer Donovan, for Tech Today.

APMP Students Attend Berkshire Hathaway Shareholder Event

Published May 9, 2013

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Michael Morrison and Austin Kuttruff at the Century Center in Omaha, Nebraska.

Applied Portfolio Management Program members, Michael Morrison and Austin Kuttruff, gathered with thousands of stakeholders at the Century Center in Omaha, Nebraska over the weekend for the Annual Berkshire Hathaway Shareholder Event. The crowd in attendance was seeking an intimate exposure to Warren Buffet who is widely considered the most successful investor in the 20^th century.

Michael said that one of the biggest takeaways from listening to Buffett was “you have to love something to do well at it.” Being Finance majors, the two Michigan Tech School of Business and Economics students jumped at the opportunity to attend the shareholder event and learned about the passion that is required to be successful. The opportunity to meet Warren Buffett, his company, and its subsidiaries is highly coveted in the world of finance. Their itinerary included watching a movie about Buffett’s company, and the opportunity to ask him questions in an open forum.

Given the Warren Buffet is 82 years old, some shareholders had concerns about the future of Berkshire after he eventually steps away. However, Buffett addressed these concerns with confidence in his company and the people who work there, saying:

The priority is that all of us continue to zealously guard Berkshire’s reputation. We can’t be perfect but we can try to be. As I’ve said in these memos for more than 25 years: We can afford to lose money – even a lot of money. But we can’t afford to lose reputation – even a shred of reputation.

Buffet told an Omaha news crew that he’s not going anywhere anytime soon, but there is a solid plan for when he does eventually step down. The people who will continue his legacy know the steps they must take to continue to be successful.

Overall, the trip was a great learning experience for the two students which was financially supported by Joe Dancy and the LSGI Advisors Inc.

2013 Tidwell Outstanding Man and Woman in Business Selected

Published May 9, 2013

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About the Award

The Outstanding Man and Women in Business is awarded annually and the School of Business and Economics is confident that this year’s selections represent the student body well with their efforts in leadership and extracurricular activities. Undergraduate Scholarship Committee members Anne Warrington, Mari Buche, and Carly Benson were heavily involved in the selection of this award.

“I had the good pleasure of knowing Sam Tidwell, and I’m confident he would be extremely pleased with this year’s selection of the Tidwell Outstanding Man and Woman in Business,” said Eugene Klippel, Dean of the School of business. “Both students demonstrate high academic performance combined with proven leadership capabilities. Thus, on behalf of the School, I wish to congratulate Nathan and Sara on their receipt of this award.”

Nathan Sturos and Sarah Ochs were named the 2013 Tidwell Outstanding Man and Woman in Business.

Nathan Sturos and Sarah Ochs are recognized as the 2012-13 recipients of the Sam B. Tidwell Outstanding Man and Woman in Business. This award is given to students who bring honor and pride to the School of Business and Economics through high scholastic achievement and involvement. Students eligible for this honor went through an intense interview process that included an essay and interview with faculty.

Mari Buche of the Undergraduate Scholarship Committee added, “Sarah and Nathan exemplify the qualities inherent in this prestigious award. They excel at their academic studies, demonstrate strong interpersonal communication skills, and serve as leaders both within the department and in the greater community. Their work ethic, integrity, and overall commitment place them at the top of their class. The School of Business & Economics faculty has high expectations for their career success after graduation. Without a doubt, they are true role models on campus.”

Outstanding Man in Business

Nathan Sturos is a senior in the School of Business and Economics who will graduate as a double major in Accounting and Finance next spring. In his time on campus he has been President of the Finance Club, Treasurer of the Entrepreneurship Club, and member of Kappa Sigma Iota Accounting Club where he helped with the Volunteer Income Tax Program. This year Nathan was inducted into the International Honor Society Beta Gamma Sigma, and has also served on the Dean’s Student Advisory Council for the last two years. Nathan has a high level of professionalism that made him a strong candidate and the recipient of this award.

Outstanding Woman in Business

Sarah Ochs is a senior, Marketing major, who will graduate in December of 2013. An extremely involved student, Sarah served as the President and founder of the DECA chapter in the School of Business and Economics. She has served as a representative on the Dean’s Student Advisory Council for the past four years. Utilizing her networking skills, Sarah has been one of our most successful business students at the career fair completing internships at Caterpillar and Mercury Marine. Sarah has proven to be an outstanding student within our school and was one of the strongest candidates we have ever had for this award.

When asked about the selection process, Buche noted “the selection process was very difficult this year. All of the finalists were exceptional candidates: strong academic GPAs, demonstrated leadership skills, and clear commitment to the improvement of the school and Michigan Tech.” Other finalists for this year’s award included: Brett Ludwig, Frank Kampe, and Troy Hecht.

APMP Holds Junior Day

Published May 2, 2013

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Director of APMP, Dean Johnson, prepares another group of students for APMP participation during their senior year.

On April 22nd, the Applied Portfolio Management Program (APMP) held the sixth Annual “Junior Day”. This special event serves to kick start the incoming juniors, as they take over as the new portfolio managers of the APMP portfolio. The juniors began their morning by attending the Spring APMP Advisory Board and watching the graduating APMP senior student portfolio managers present their year-end performance results. After being introduced to the APMP Advisory Board, the juniors attended a series of guest lectures. This year’s guest speakers included: Ryan Layton, Tim Bailey, Larry Durland, and Paul Kasriel.

Ryan Layton and Tim Bailey are both APMP alumni and introduce the juniors to the program that led them to the careers they have today. Ryan currently works as a portfolio manager with Main Street Investment Advisors in Chicago. Mr. Layton discussed the importance of asset allocation and the process used by Main Street Investment Advisors to determine a portfolio’s optimal asset allocation. Mr. Bailey works at Fortress Investment Group in San Francisco, which is a $44 billion Private Equity/Hedge fund. He discussed alternative asset investing strategies employed in the hedge fund industry with the new APMP students.

APMP Advisory Board Chairman Larry Durland, discussed the thoughtful development of an investment philosophy and strategy, during his time with the APMP teams. In addition to talking to the APMP teams, Mr. Kasriel also opened his presentation to the entire School of Business and Economics. Over 60 students attended his guest lecture on the current macroeconomic decisions facing the Federal Reserve and investors. A resident of Door County, Wisconsin, Mr. Kasriel serves as the President of Econtrarian, LLC and is a senior economics and investment advisor with Legacy Private Trust Company of Neenah, Wisconsin.

Junior Day give the students exposure and experience talking with professionals working in the world of finance. As APMP team members, they will be responsible to the APMP Advisory Board as they manage over $1 million during their senior year at Michigan Tech.

Financial support for Junior Day was provided by James and Dolores Trethewey.