Along with the three Hall of Fame inductees, the school acknowledged two alumni with the Rising Star Award: M. Christina Clayton, BBA ’02 (below left) and Gregory H. Johnson, MBA ’05 (below right). This award is presented to alumni no further than ten years from graduation who have been successful professionally and have helped strengthen the McCombs Alumni Network. Read more.

  

On Oct. 13, the MPA Distinguished Speaker Lyceum hosted Tom Linsmeier (left), a member of the Financial Accounting Standards Board (FASB). Fifth-year MPA student Doug Bedell shared this dispatch from Linsmeier’s talk, which he says was “one of the most riveting” Lyceum talks yet:

Dr. Linsmeier’s speech passionately defended fair-value accounting, a subject that, as of late, has been subject to much scrutiny and criticism.

Fair-value accounting requires financial statement presenters to periodically mark certain assets and liabilities to a value that could be settled in current transactions between willing parties. This is in contrast to historical-cost accounting, which allows presenters to record assets and liabilities at original prices and subsequently change the values using a pre-determined algorithm (e.g. depreciation and amortization schedules). Proponents of fair-value accounting believe that the method gives users of financial statements a fairer presentation of a company’s underlying economics.

Dr. Linsmeier explained in his speech that fair-value accounting has recently been attacked as having worsened the recent economic crisis. Many people contend that, by forcing banks to write-down balance sheet accounts, fair-value contributed to untimely bank failures and subsequent market instability. Dr. Linsmeier convincingly argued that fair-value was not an instigator of these problems, but rather it properly communicated poor decisions made by some of the leading financial institutions.

Faced with political pressure from Congress, the FASB Board members have been encouraged to suspend some of these progressive accounting policies in order to protect banks from reporting excessive losses. Dr. Linsmeier, however, believes this to be an inappropriate response to the problems faced by this industry, as it would simply allow companies to understate the actual severity of their financial positions.He cited the fact that, immediately before collapsing, many banks were considered “well-capitalized” under historical cost models. This problem suggests a mismatch between financial statement presentation and a company’s actual economic reality. If the purpose of accounting is to deliver useful information, then this mismatch is unacceptable.

Dr. Linsmeier and the FASB have proposed an accounting model requiring companies to report fair value changes in financial instruments to either the income statement or comprehensive income (an account with no direct effect on a company’s disclosed profit). Deciding where to classify these changes will depend on how a company generally manages groups of these instruments. The proposed system would appease more audiences, creating better economic presentation without forcing companies to take direct losses from instruments that will likely recover value over time. Most importantly, the model continues the FASB’s objective to improve the usefulness of accounting information through fair-value policies.

I found Dr. Linsmeier’s speech to be one of the most riveting we have experienced in the Lyceum so far. He challenged me to critically examine existing accounting practices and consider progressive solutions. It is my hope that McCombs continues to attract speakers like Dr. Linsmeier in the future.

Smart professionals know that networking is a proven way not only to find a job, but also to thrive in a job and bring in new business. Learn how to take the stress out of networking and get better results in a way that feels natural to you.

In this series of three teleseminars presented by Carol Ross, career coach, social entrepreneur and founder of Carol Ross and Associates, LLC, you will learn to create and nurture the connections needed to thrive in hard times.  You will also have the opportunity to network with alumni from McCombs and other major universities through a participant-only site.

Watch this video to learn how a visit to the dentist’s office led to a job interview with the CEO of a start-up (really!).

Other results reported by past participants include:

• New contacts: Who would have thought that business cards would be exchanged at a dog park or while waiting for a train that was late?  But that’s exactly what happened.
• New clients: “To my surprise, I have two new clients and the possibility of two additional. And it all feels natural.” -Lynn Pearson, graphic artist (http://www.pearsonandgraham.com/)
• New business opportunities: The founder of a non-profit dedicated to financial literacy (http://www.money-masters.org/) applied her new networking skills with two speakers at a conference. She walked away with an invitation to submit her resume for a national task force under the Department of Treasury and consideration of her middle-school curriculum by The New York Federal Reserve Bank, to teach financial literacy to kids in Puerto Rico.

Teleseminar Dates & Topics:

October 27: Avoid Common Traps in Networking
November 3: Create Meaningful Conversations and Develop Lasting Connections
November 10: In-Person + Online Networking, Put It All Together

Location: Anywhere (online or by phone)
NOTE: Teleseminars are not sold separately.  All teleseminars are recorded and available via MP3 download.  The McCombs School of Business and Carol Ross & Associates value your privacy and will not share your email address with others. 

Choose from a mid-day time or an early evening time to attend:
Mid-day series: 10am PT/11am MT/12noon CT/1pm ET
Early evening series: 4pm PT/5pm MT/6pm CT/7pm ET

Teleseminars are 75 minutes long (50 minutes of presentation followed by 25 minutes of Q&A).

Cost: $75 for all three sessions (discounted from the public registration price of $189). Register by Oct. 25!

Click here to learn about the presenter, Carol Ross. Questions? Contact alumni@mccombs.utexas.edu.

“I have trouble starting conversations with people. Your program gave me the confidence to start networking with people.” –Keith, attorney
“I’ve already had positive results, not only in my job search, but with personal relationships, which is an added bonus!”—Nancy Gallagher, commercial real estate professional

Click here for more testimonials.

I’ve been going to networking events for years, first as a way to build my career and then as a way to build my business. For some, this may sound like hell on earth. I prefer to think of it as a long-term study in human behavior. Think rats in cages. Okay, just kidding.

I’m 48 years old. I’ve met hundreds, if not thousands, of strangers in ballrooms with overactive air conditioning and in restaurants with noise levels approaching take-off at O’Hare. I’ve had engrossing conversations and “ewwww” reactions. I’ve been bored silly eating appetizers in the corner and been the last person to leave because I found myself having so much fun. After all of this, I think I may have found the Rosetta Stone of networking.

Before we go any further, it’s useful to introduce the idea of a “stake,” the core driver for how one behaves in any situation. It’s the thing that one can count on when things go awry or when things are going smoothly. Some people might call this your intention but more often, it’s “unintention.” Most people are unaware of their stake at any moment. For me, my stake is usually to learn. No matter what I’m experiencing in life, if I’m learning, I feel okay. Learning is my homeostasis, my thermostat of life.

Now, dissect any conference hall crowd, formal social gathering, or group of industry seminar attendees. Create an expectation among normal adults that they will be interacting with people they’ve never met for the next thirty minutes. The Petri dish begins to reveal mixed emotions and intentions.
My theory is that you’ll find three types of individuals with three different stakes:

• Givers. The stake for a Giver is to provide value to others, no matter what else happens. Givers operate from a sense of abundance. They give without strings attached. Givers are not looking for anything tangible in return other than a genuine expression of thanks.  They feel good that they can be of service to others and are otherwise unattached to the outcome from their giving.
• Takers. The stake for a Taker is to get something of value from others, no matter what else happens. Takers operate from a tit for tat mindset. They keep count of who is ahead and who is behind, in both giving and receiving, so that they come out ahead. They give with strings attached–to get something in return.
• Protectors. The stake for a Protector is to stay safe, no matter what else happens. Protectors are wary of both Takers and Givers, because they can’t distinguish between the two. For a Protector, all networking interactions carry the risk of being taken advantage of. Protectors neither give nor take. They remain safe by holding back and keeping their distance.

Which one are you? At different times in my life, I know that I’ve played all three roles, Giver, Taker, and Protector. There’s no shame in that. What is important is that you consciously choose what role you take on and know the consequences of doing so.

The stage is set. Walking across a hotel carpet, with busy patterns designed to hide the spotty record of past networking encounters, we each assume a position—Giver, Taker, or Protector. What happens when the different pairings interact?

• Giver-Giver. Nirvana. This is the ideal situation. Both parties feel like they are appreciated when they give, which engenders even more giving. Unfortunately, this pairing is not what most people experience when they are networking.
• Giver-Taker. Tricked, again. This can work for awhile, until the Giver realizes that she is working with a Taker. Takers may even initiate giving first, with the intention that they will get something in return. At some point, Takers give themselves away by operating from an entitlement mindset (as in,” I did this for you, so now you owe me.”) The impact on the Giver is that this can turn them into a Protector.
• Protector-Taker or Protector-Giver or Protector-Protector. The drawbridge is up. I’ve combined these three pairings because the dynamic is the same. The Protector holds back from any meaningful interaction in order to remain safe.
• Taker–Taker. It’s just bizzz-ness. What can I say? This is purely transactional and both parties know and agree to it. They know what the game is.

I discovered several years ago that I enjoy myself more and get better results when I’m a Giver. The time goes by quickly and I’m energized when I go home. I make new connections and in some cases, new friends.
However, as you can see from the pairings above, just because I’m playing the role of a Giver, doesn’t mean that I will meet Givers. It may take me a few tries to find “my tribe” of Givers.

Whether you are a natural Giver, a born-again Giver, or like me, one borne from years of living, here are tips for Givers: 

• Don’t take unpleasant interactions personally. You can’t control how others behave but you can control how you respond to their behavior. For all you know, the person in front of you may have caught their spouse cheating last week, gotten laid off, and be taking care of a dying mother. Being a Taker or Protector sounds pretty good right now. Or it just may be the man or woman in front of you is a jerk.  In either case, it’s nothing personal.
• Know the signs of a Taker, so that you can steer clear when you need to.  You will sense a “tit for tat” in the moment that something is given by the Taker. It may be very subtle but trust your own feelings. The giving will be less joyful and more purposeful on the part of the Taker. Often, Takers will have a laser-like focus as a way to make sure that they get what they want out of the interaction. They won’t waste time on people who they perceive can’t give them something of value. They seek out others based on status, title, position, experience level, or closeness to someone else with power.
• Know the signs of a Protector–wariness and holding back (not to be confused with introversion.) Even after you extend a giving hand and ask questions from genuine curiosity, Protectors won’t let down their guard. It’s worth a try working with Protectors to shift their idea of who you are and what your intentions might be. However, at some point, if you don’t sense a change, it’s best to move on.

Topics for further research (which may take the rest of my life to fully understand):

• What causes a Taker to become a Giver?
• What causes a Protector to become a Giver?
• How can we create more Givers in the world?
• How can you recognize Givers, Takers, and Protectors in the online world?

For now, let’s try this experiment: Independent of what role you naturally gravitate towards, the next time you find yourself in a conversation with a stranger, choose to be a Giver.

_____________________________
Copyright © 2009 by Carol Ross and Associates, LLC. As a coach, Carol delights in working with Boundary Crossers, individuals who operate in multiple worlds but who fit wholly in no one world. As founder of A Bigger Voice, she works with frustrated social entrepreneurs to transform an idea into a sustainable, scalable movement. Find her playing on Twitter (@carolross), musing about life and work on her blog, or sampling new groups on LinkedIn.

Harvey will replace Mary Healy, ArrowStream’s current CFO, who announced her retirement earlier this year.

Harvey brings a wealth of experience from rapidly growing companies to ArrowStream, serving most recently as CFO of Redbox Automated Retail, LLC and then as CFO of Redbox’s publicly traded parent, Coinstar, Inc.  Prior to Redbox, Harvey was with JetBlue Airways Corporation where he supported the company’s growth from an entrepreneurial start-up to a mature, $3 billion operation serving initially as Vice President & Treasurer and then as Executive Vice President & CFO. 

Harvey’s proven ability to build financial teams, discipline and processes that deliver operational insight for rapidly growing companies is crucial as ArrowStream continues its growth trajectory.  As the premier provider of supply chain solutions for the foodservice industry, ArrowStream serves blue-chip customers such as Wendy’s, Church’s Chicken, Steak n Shake, and ARCOP, Arby’s purchasing cooperative group.

Key to the company’s rapid success is The ArrowStream Network, which is the largest most extensive system of restaurants chains, distributors and manufacturers in the foodservice industry with more than 2,300 partners and more than $15 billion of transactions on an annual basis.

“When Mary announced her retirement we were concerned about finding someone with equal skills.  We are thrilled about the addition of John Harvey to our executive team.  His leadership, experience and core values are particularly relevant to the next phase of our evolution and will enhance our already strong financial position as we continue to expand The Network and fulfill ArrowStream’s commitment to delivering supply chain innovation and mutually beneficial solutions to our customers,” said Steven LaVoie, CEO and Chairman of ArrowStream.

• Real Estate/Financial Analyst, Thackeray Partners – Dallas, TX
• Business Research Manager: Energy Efficiency, Energy Market Innovations (EMI) – Seattle, WA
• Cost Accounting Manager, Energy Alloys – Houston, TX
• Business Development Consultant, Gallup – Irvine, San Francisco, New York City, Washington DC, Omaha, Chicago 
• General Manager, Amnisure International LLC – Cambridge, MA   

If you need your UT EID to access the Job Board, please contact the alumni office. If you have forgotten your password but know your UT EID, visit the UT EID Self-Service Tools and click “Find/Reset My Password,” or you may contact the ITS Help Desk at (512) 475-9400.

If relationships make the world go round, then effective networking is the axis on which the world spins. If you haven’t brushed up on your networking skills, take some time now, to create longer lasting, deeper relationships that can get you to where you want to go, in good times and bad.

Here are nine networking mistakes made by individuals of all experience levels, including seasoned career professionals. Many of these are mistakes I’ve made myself:

1. Networking sporadically. During the holidays, I often notice a distinct uptick in people reaching out and re-connecting. But what happens after the seasonal cheer wears off and everyone is back in the office, under the gloom of mid-winter blues? Yeah, see you next December. Networking is a continuous effort, in good times and bad. Find reasons to connect, whether it’s an article that someone might like or a conversation that made you think of a specific person. Don’t be someone who connects only once a year, when everyone else is trying to do the same.
2. Being a “taker” rather than a “giver.” Networking works best when you adopt a mindset of giving to others first. Be willing to let the relationship evolve from there. Remember that making deposits to the “emotional bank account” now can’t help but accumulate interest over time. Be a giver first, rather than a taker, and watch how it creates bigger opportunities and better options for the future.
3. Failing to follow up. At the start of a new relationship, building trust is important. The quickest way to sabotage a new relationship is to promise something and not deliver. No matter how small, do what you say you will do, whether it’s passing on a name to someone in your network or emailing the url of a blog that was mentioned in your conversation.
4. Lack of acknowledgment. People want to know that their effort to give to others is appreciated, no matter the outcome. If you get an email introduction to someone who can help you, always thank the person who made the introduction. Copy them when you attempt to connect with the person being introduced. Give them the courtesy of hearing the outcome of their efforts. If someone takes the time to give you feedback (e.g., on your website, on the impression you made on them, on how you are
   proceeding with your job search, on whether you are a fit for a job), let them know that you heard the feedback—even if you don’t agree with it. Complete the conversation. Silence is not always golden.
5. Expecting others to network for you. In the course of meeting new people, you may get an offer from someone to help you network—by sending on a resume, talking with a neighbor, or checking with a hiring manager on openings. This willingness to help is great and it’s misdirected if you count on having a middleman. Ask for the contact information of the person you are hoping to get the attention of. Or ask for an email introduction to that person. It’s your responsibility to move the ball forward, not someone else’s. Be proactive.
6. Missing an opportunity to be a connector. These last four mistakes relate to playing the role of a connector when networking. In this role, it’s not just about making a connection with a new person, it’s making connections between people. What people often forget is how they can add value by connecting someone in their network to someone they are just meeting for the first time. Be on the lookout for these opportunities. It will take your networking effectiveness to another level.
7. Providing a weak introduction, or none at all, to two parties. A weak introduction is akin to no introduction. Take the time to do it right. People will remember you for it. When playing the role of a connector, make it appealing for both sides to meet. Give specifics on what makes each person so special in your eyes. Speculate on what could happen if they meet. Don’t rely on the idea that because you think it’s a good idea, both parties will, too.
8. Connecting two people where there isn’t a perceived win-win. This is sometimes the reason for a weak introduction, because the person making the introduction can’t articulate why both parties would benefit in meeting. Sometimes, only one party benefits. Consider carefully why both parties would want to meet before making a solid introduction.
9. Passing on bad apples, without warning. If you are a great networker, people in your network will trust you to introduce them to quality people—responsible adults with good intentions, integrity, and a generous spirit. Don’t connect two people if you think it might undermine that trust. At the very least, let the person who might end up with the short end of the stick know what they might be getting into.

It’s easier than you think to be remarkable when it comes to networking. The more you do it, flawlessly, the more momentum you’ll have in achieving your goals. By avoiding these nine mistakes, you’ll set yourself apart from other professionals and reap the full rewards of spending time and energy on networking.

Carol will be leading Networking Naturally, a three-part teleseminar for alumni which will cover the benefits of and common mistakes when networking. Registration closes October 25th. Click here for more information or to register now.

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Copyright © 2009 by Carol Ross and Associates, LLC. Carol Ross is a certified career coach, social entrepreneur, and founder of My Alumni Link, a business that helps universities build vibrant alumni communities. A former Bell Labs engineer, she first learned the power of networking after being laid off in 1996. Within a month of her layoff, she had landed another job, with better pay and more opportunities, largely due to networking. As a coach, she delights in working with Boundary Crossers, individuals who operate in multiple worlds but who fit wholly in no one world. As founder of A Bigger Voice, she works with frustrated social entrepreneurs to transform an idea into a sustainable, scalable movement. Find her playing on Twitter (@carolross), musing about life and work on her blog, or sampling new groups on LinkedIn.

• $50 Co-op Gift Card: Shiryl Thompson, BBA ’76 & MBA ’78
• Round of Golf at the UT Golf Club: Matthew Karl Brandt, MBA ’05
• Football Signed by Coach Mack Brown: Jonathan Rohner, BBA ’05
• Three-year Texas Exes Membership: Carolyn Manton-Westburry, BBA ’82

As a follow-up to the Genuine Networking class this past spring, Amy Wittmayer returns to lead a Facilitated Networking class.  Using a pre-class questionnaire, this workshop will help you connect with fellow alumni and find common ground.

In addition to the workshop and materials, your fee also includes refreshments and access to a cash bar.

Date:  Thursday, September 24
Location:  AT&T Executive Conference Center
Time:  5:30 p.m. – 7:30 p.m.
Cost:  $25 / person

BEFORE the event, please fill out this brief, 8-question survey.

Feedback from attendees of the prior Genuine Networking event:

“I appreciate the time and effort you spent on the workshop you gave this week to the UT MBAs!  It was a valuable use of my time and I came away with a lot of useful tips.”  -Elliott Weir, MBA ‘02, CFP

“This class is a MUST for all of those who want to build a strong network to advance their personal and professional lives.  Don’t miss it!” Gene Brown, McCombs BBA ’85, Recruiting Professional

Giving truly great presentations requires skill, work, and practice. Giving catastrophic presentations is far easier. So if you want to take the easy way out and look like a rank amateur, here are 15 surefire tips to guarantee that you leave a really, really bad impression.

1. Misspell words. Failing to check the spelling on your slides shows a complete lack of care. If you don’t care enough to proof your presentation, your audience will care less about you and your message. It’s the easiest way to look unprofessional.

2. Create distracting color combinations. Blue on green is especially hard to read.

3. Use inconsistent fonts. Professional PowerPoint designers will use no more than two, perhaps three, font styles in an entire presentation. But why stop there? There are thousands of typefaces available. See how many you can incorporate into your slide show. Click here to continue reading from BusinessWeek.