Winter Formal Brings Together Boothies for a Good Cause

The Charity Auction is one of the most awaited annual events at Booth conducted during the Winter Formal…the record sale of tickets this year should be proof enough! As proud members of the Booth community, ‘giving back’ is a commitment we all uphold and the auction gives us the opportunity to reaffirm this commitment towards our local community. Since its inception, the Auction has always ensured that the funds it raises go towards local charities so that as an institution we can make a positive change in the place we call home for at least 2 years – Chicago.

Winter Formal 2016 was held at The Field Museum in Chicago and proved to be a glamorous night of dinner, dancing, and bonding time for classmates. In picture left to right: Curtis Miller (17'), Manya Garg (17'), Susann Almasi (17'), and Karthik Muralidharan (17'). 

Winter Formal 2016 was held at The Field Museum in Chicago and proved to be a glamorous night of dinner, dancing, and bonding time for classmates. In picture left to right: Curtis Miller (17'), Manya Garg (17'), Susann Almasi (17'), and Karthik Muralidharan (17'). 

This year we plan to donate our auction proceeds to 2 local charities – A Better Chicago and Brave Initiatives. The former is an initiative that aims to transform education for Chicago’s low income youth by harnessing some of the best practices that exist in private education while Brave Initiatives is another venture that hopes to channel change in society by empowering high school girls to become agents of change in society by providing them with essential computer skills and leadership training.

This year we wanted to provide a bit of historical flavor behind this auction to the Booth community and met up with Jessica Jaggers, Senior Director of Diversity Affairs and Student Life who has been closely involved with auction for over 7 years. Interestingly, long before the auction was conducted in its present format, it used to be a standalone event at a bar in downtown Chicago. However, overtime everyone wanted it to be a more of a formal gala and it was then tied up with the Spring Fling (spoiler alert first years – we have a boat cruise party planned for the spring quarter!). Conducting the auction on a boat proved a little inconvenient (things got to(i)psy-turvy, both literally and figuratively) and it has been paired up with the Winter Formal ever since. One thing that hasn’t changed throughout the years is the spirit behind the auction. This is an event that brings together everyone in the community – students, faculty, staff, corporates and even local businesses - for great social causes.

Not just the students, but even the professors are excited about it. Prof. Emir Kamenica says “I’ve participated for several years now. This is something that I also experienced as a student when I was in graduate school, but the only things that were being auctioned were items donated by faculty. So, this is something that I see as being part of a university. This format [the auction item he offers i.e. – dinner with him] has tended to bring out good interactions with students”

The Booth community has always risen up to support social causes and in true Chicagoan style we see the data supporting this with annual donation contributions trending up each year. Last year we managed to collect $20,000. This year let us aim to beat that figure. Hope you are all up for the challenge because we definitely have some pretty sweet packages up for the bids. Stay tuned and bid well folks!

 

Is the TV, Movie, & Music Industry Dead? PULSE Conference Raises the Question

PULSE Media, Entertainment and Technology Conference hosted by UCLA  brought out some of the businesses heavy hitters like Def Jam CEO Steve Bartels.

PULSE Media, Entertainment and Technology Conference hosted by UCLA  brought out some of the businesses heavy hitters like Def Jam CEO Steve Bartels.

Booth showed up to support the 3rd annual 2017 PULSE Media, Entertainment, and Technology Conference hosted by UCLA Anderson on February 10th. Bringing together some of the media and entertainment business’ heavy hitters including President and CEO of CBS Corporation, Les Moonves, President and CEO of the LA Dodgers, Stan Kasten, and CEO of Def Jam Recordings, Steve Bartels. Diving into the dynamic intersection of content, technology and data, the conference addressed how disruptors like Netflix and Amazon are changing the way traditional media companies operate across the board. The conference showed that all sectors including sports, music, live performances, and television are facing the ripple effects of streaming content and smaller start up innovations that appeal to growing audience of digital savvy consumers.

Many of the key innovations coming out of tech like VR and augmented reality, are important spaces that these traditional media outlets are looking to play in. The Chief Strategy Officer of AEG Live, Ron Chiu, said on a panel called Larger than Live: Monetizing the Experiential Economy, that during Coachella, AEG sent out Google Cardboards to ticket holders before the show, so that they could experience the venue on VR before the actual show. Chui said, “This experience helped create buzz around the highly popular Coachella concert and was a pilot for innovating around live music experiences within the VR space.” Also mobile, streaming video, and VR are infusing its way into sporting events, with ESPN launching content from NCAA March Madness and Super Bowl Sunday exclusively available on their digital platform.  Moonves.

With streaming music like Spotify, Pandora and I-Tunes capturing the ears of millions of music fans, traditional labels like Def Jam are getting their artists music out to the listeners with more breadth than ever before. Steve Bartels commented on how when he’s looking to sign artists, social media, data and analytics play a much larger role in the scouting process for new talent. He also said the streaming services are actually helping the brand of his artists and getting their music introduced to new audiences. Jason Miller, Sr. VP of International and Emerging Markets, Live Nation during a panel said that holograms of famous pop stars who have deceased like Michael Jackson, would be a major part of live performance experience as he believes people will pay big bucks to see these icons perform again.

According to a PWC study on the entertainment and media industry, currently there is a rapid transition from the traditional programmer (NBC, FOX, HBO) and operator (COMCAST, AT&T, Time Warner) business model to a direct-to-consumer world (NETFLIX), where most content will remain the same — at first, anyway — but the packaging and distribution will change significantly. Specifically, the expansion of digital technology will foster connectivity, enabling growing numbers of connected devices and new routes to the user. This is altering the industry’s structure, driving new ways to produce, distribute, and monetize content across its landscape.

 

Ringing in the Lunar New Year Tastes so Good

In China and in ethnic communities around the world, the lunar new year is the most festive holiday of the year.

In China and in ethnic communities around the world, the lunar new year is the most festive holiday of the year.

The Booth Epicurean Club, in celebration of the Lunar New Year, organized a 10-course feast at Sun Wah Restaurant in the Argyle area of Chicago. Sun Wah is a long standing Chicago food destination originally established in 1987 on Argyle Street. The owner, Eric Cheng, a Chinese immigrant who specialized in Hong Kong style Barbecue, uprooted his family in the 80’s to seek opportunity. After attracting numerous food lovers and local admirers over the years, Sun Wah passed hands in management as Cheng’s 4 adult children took over. His children pride themselves in keeping their father’s culinary traditions alive.

Over two dozen Boothies got the chance to taste Sun Wah’s carved tableside whole Peking style duck, along with an assortment of other scrumptious duck inspired dishes including duck soup, made from the carved carcass, and duck fried rice.  Peking Duck is a dish from Beijing that dates back as far as the imperial era. The meat tends to be thin, crisp skin, with authentic versions of the dish serving mostly the skin and little meat, sliced in front of diners by the chef. The traditional way to enjoy the duck is to spread the sweet bean or hoisin sauce over the pancake and then wrap it around the meat with scallions and cucumbers. Most people eat this by hand. The remaining fat, meat and bones can be turned into broth or chopped up and stir fried. The traditional method for preparing the dish, called Menlu, involves using a closed oven, but in the 1860s a new method, Gualu, where the birds are hung inside an open oven, became popular. There is still a debate to this day about which method is best.

Peking duck is carved Tableside at Sun Wah in this off the menu item that has brought notoriety to this Chicago restaurant staple.

Peking duck is carved Tableside at Sun Wah in this off the menu item that has brought notoriety to this Chicago restaurant staple.

 

In China and in ethnic communities around the world, the lunar new year is the most festive holiday of the year. Beginning on January 28th, the colorful celebrations to welcome in the year of the rooster will continue for around two weeks, ending on February 2nd. Chinese Near Year is the longest national holiday in China and New Year's day is the most important date in the Chinese calendar. Although China has used the Gregorian calendar since 1912, Lunar New Year is based on the ancient Chinese lunar calendar, falling on the second new moon after winter solstice, which means it changes each year. Nearly a sixth of the world will observe Lunar New Years, with celebrations in Taiwan, Singapore and Malaysia, along with other countries with significant Chinese populations. The Year of the Fire Rooster was also celebrated at Booth during Friday’s LPF sponsored by CAP, GCC, KBG and GBC. Hundreds of Boothies in a festively decked out Winter Garden, experienced a number of Asian inspired dishes including apchae, Sweet and Sour Fish, Kungpao Chicken, Garlic Pea Sprouts, Korean Spicy and Sweet Fried Chicken.

The holiday falls on a Saturday this year and although Lunar New Year is rooted in folklore, in recent decades the holiday has become a largely secular, cultural celebration.  It’s a great opportunity for many Chinese to reunite with their families, enjoy a plentiful meal, and celebrate good luck in the new year.

 

‘People Power’ shows in Full force at Historic Women’s March

Panels and speakers including Michael Moore, addressed an audience of highly passionate and engaged crowd of both men and women during the Women’s March on Washington.

Panels and speakers including Michael Moore, addressed an audience of highly passionate and engaged crowd of both men and women during the Women’s March on Washington.

Thousands of both passionate women and men gathered across cities throughout the United States including Chicago, Los Angeles, and Miami to support the Women’s March on Washington. The Women’s March on January 21st, a day after the inauguration for President Donald Trump, turned into a worldwide protest in support of women’s rights and other causes including immigration reform, healthcare, LGBTQ rights, protection of the environment, as well as a number of other key issues facing the country. The first march was planned in DC, but in total official organizers noted that 408 marches were reported happening that day, making it the largest one-day protest in U.S. History, with nearly half a million in DC alone.

 

Booth 2nd years Alice Thompson and Andrea McPike attended the Women’s March on Washington and said it was an ‘empowering’ experience for them. Some of the key takeaways that these Boothies observed included the message that “Women tend to have to be asked to do something (like run for political office) to feel qualified to do something compared to men,” said McPike. She added, “This weekend at an event organized by the Huffington Post and Bustle called ‘Watch Us Run’, one of the all-female panels told the audience of mostly female audience ‘consider yourselves asked’ to run for office and just go for it.”  Another important sentiment from the march was to “not be afraid to speak up, to say your truth, but say it with love. Anger can spark the fire, but it cannot keep the flame lit,” remarked McPike.

Many people who were Hillary supporters used the march as catharsis of emotions from the election. Alice Thompson shared some of her feelings surrounding the march saying, “When Hillary lost the election, the glass ceiling weighed heavier on my head than ever before. Today, as I marched in Washington, I felt empowered, and united with the majority of US citizens, who voted for the politics of love over the politics of hate.” Many of the people who were disheartened by the election results were able to use the March as a gathering place to share ideas and strategize on effective tactics moving forward. Renowned author and activist, Gloria Steinem, during her speech to the sea of crowds at the rally on the National Mall, said “because of people power” positive change will be possible and women’s rights will be upheld, referencing the power of the masses to invoke change. Many celebrities like Scarlett Johansson, Alicia Keys, Katy Perry and even Madonna were some of the many high profile women, who came out to show their support for this movement.  

 

In an effort to keep up the momentum from this historic event, afterwards the organizers of the Women's March on Washington posted the "10 Actions for the first 100 Days" campaign for joint activism. For those Boothies who couldn’t make it to Washington, many came out to support the rally here in Chicago at Grant Park, which turned out to be the second largest gathering outside of DC.  For more information about the continued movement and what you can do to help contribute to the 10 actions for the first 100 days, check the website https://www.womensmarch.com/100/

 

Booth 2yrs Andrea McPike and Alice Thompson went to DC to show their support for the Women’s March on Washington and came back with valuable life lessons.

Booth 2yrs Andrea McPike and Alice Thompson went to DC to show their support for the Women’s March on Washington and came back with valuable life lessons.

Reflections from Boothies on End of Quarter Wrap up

Autumn quarter is wrapping up and many Booth students are reflecting on the whirlwind of classes, recruiting, and all the social frolics quintessential to the Booth experience. ChiBus caught up with a couple Boothies to find out what’s on the top of their mind as the quarter winds down.

ChiBus Q: What are your Winter Break plans

Samantha Set (17’):Ski trip, Christmas with family in New Hampshire and Chicago for New Years Dan Patton (18’):I have a number of trips lined up for the break. The Saturday after finals I'm heading off to DC to catch up with some childhood friends. From there, I will head to NYC for my bday weekend, where I plan to catch up with close friends from my time living in the city. The next week I head to Wolf Creek in Colorado for a ski trip before bringing in the new year in Miami Beach!

John Frame(17’):  I plan to have Xmas with my mom in Georgia and spend New Year’s Eve with my best friends in New York City, one of which just got engaged!

ChiBus Q: What are you most looking forward to about the break?

Set: Most looking forward to catching up with family and friends at home

ChiBus Q: What was the most memorable aspect of the Winter Quarter?

Set: The most memorable part of the quarter was consumer behavior, which was one of my favorite classes at Booth both because Professor Bartels is fantastic and my excitement over the course content affirms that marketing/ brand management is the right career path for me.

Frame: My fondest memory of this quarter is planning and executing with the help of the other  Affinity Admissions Fellows, a successful Diversity Day for prospective students. I made a commitment last Spring to give back by helping to attract more diverse populations to Booth and this was a realization of that commitment.

Paton: The most memorable part of the quarter was definitely a recent trip to Mexico City I took with a bunch of Booth classmates. While there, we did the mannequin challenge atop the ancient Teotithuacan pyramid. #whybooth.

 

Booth Students Capture Big Win with Virtual Reality Case Competition

Vivian Fan 17', Ray Lui 17',  and Alexis Miller 17' pose holding the team’s 1st place cash prize with Interactive TV Works  Case  Competition Organizer Craig Leddy and Arris’ coach Jonathan Ruff.

Vivian Fan 17', Ray Lui 17',  and Alexis Miller 17' pose holding the team’s 1st place cash prize with Interactive TV Works  Case  Competition Organizer Craig Leddy and Arris’ coach Jonathan Ruff.

Chicago Booth students made a footprint in the media industry, taking home 1st place in the Interactive TV Works Competition sponsored by Comcast. The team of both 1st and 2nd years including Vivian Fan (17’), Ray Lui (17’), Alexis Miller (17’), Diego Celayeta (18’), and Peter Randaccio (18’) represented Booth in Philadelphia at the Comcast Center, competing against four other business school including NYU Stern, which notably offers a media and entertainment business concentration. Although Booth may not be known for its strong media business track, the Media, Entertainment, & Sports Group at Booth has an active membership and strives to provide resources for students looking to go into the industry.

The competition brought together MBA students from a number of schools and allowed them to network with media and technology  industry executives and recruiters while at the Comcast Center in Philadelphia.

The competition brought together MBA students from a number of schools and allowed them to network with media and technology  industry executives and recruiters while at the Comcast Center in Philadelphia.

The Interactive TV Works competition, started by TV industry veteran, Craig Leddy, engages MBA student teams to compete in creating winning go-to-market strategies and marketing plans for advanced TV and online video innovations. The competition is designed to promote emerging video technologies by encouraging innovative launch strategies and marketing plans. Each MBA team was assigned a different case question that centered around the evolving media landscape as it related to Cable providers like TV Everywhere, Big Data in media, and how to reach cord cutters using digital content platforms.  The Booth team was assigned a case prompt about virtual reality and was tasked to build a business strategy and marketing plan for the feasibility of Cable providers entering this market. VR is revolutionizing video games and cropping up in ancillary uses for television content, such as a Game of Thrones opening credits in VR. Producers also are finding unique ways to use 360-degree video, a less immersive experience, but one that does not require a headset.  The ultimate success of many video innovations – be it digital video, HDTV, 3DTV, 4K Ultra HDTV or VR – depends largely on service providers’ willingness to support the technical capability and distribute the content to their customers. The Booth team had to build a case around whether it makes business sense for cable operators to invest in the growing VR trend and if so what that should look like. To help provide scope and direction, the Interactive Case competition provided both coaches and mentor companies within the media, tech and cable space to guide the team’s recommendations. The Booth team was paired with a coach from the company Arris, which is a telecommunications equipment manufacturing company that provides cable operators with high-speed data, video and telephony systems for homes and businesses. The team also received perspective about the VR space from Comcast executives, who spoke about how they viewed possible routes into VR.

Since tech giants like Google cardboard and Facebook Oculus are investing heavily in both the hardware and content around VR, these companies have a competitive advantage over operators entering this space. The Booth team recommended that cable operators, who are also Internet Service Providers (ISP), should leverage their current subscriber base and increase their bandwidth capabilities in order to offer a VR package to their current customers. Also suggested in the recommendation, operators should partner with content creators to create a VR marketplace where both premium and indie content could be upload for cable subscribers as well as non-subscribers. The judges at the competition, who ranged from TV service providers and content programmers like NBCU to tech providers like Juniper Network, were impressed by the Booth team’s analysis and presentation of this emerging disruptive technology.  

 

 

 

Booth Voices Bring to life the Stories of the Our Dynamic Community By Cissy Zhou

The MBA experience passes in the blink of an eye.

One of the main reasons I came to Booth was to make lasting friendships. After being here for a year, I’ve gotten to know most of my classmates’ names and what they recruited for—but there is still so much more about them to discover. I have often asked myself: how can I take my Booth relationships to the next level? When I graduate, I don’t want to regret that I didn’t take the risk to push relationships beyond the surface level interactions that Boothies gravitate towards.

Last year, GBC’s Booth Voices was created as a first step to solving this problem: to help Boothies get to know each other on a deeper, more substantive level. Whether it’s talking about “the most defining moment in your life”, “if you can marry someone that your parents don’t approve of”, or “experiencing discrimination for your race, sex, or beliefs”, Voices is a platform to create conversation. Through three different formats (Insights, Stories, and Ignite), you’ll gain a better understanding of your classmates and help your classmates gain a better understanding of you.

GBC Voices has three different components and Boothies can choose to engage in one or all of them:

As our paths separate in a short number of months, I hope to leave Booth with meaningful and lifelong friendships. I want to remember my classmates not by what they recruited for—but by their passions, their motivations, and what they stand for.

So the next time I see you in the Winter Garden, instead of asking how TNDC was, I will strive to stop and have an actual conversation. I may even share something personal about myself so you can get to know me better. I hope you will return the favor.

 

Booth Rugby Takes on MBA Rivals at the “Fall Brawl” by Kyle Vetch 18'

Booth Rugby team competes hard in Austin, TX during the 'Fall Brawl' 2016

Booth Rugby team competes hard in Austin, TX during the 'Fall Brawl' 2016

In the last weekend of October, the Chicago Booth Rugby Club travelled down to sunny Austin, Texas for the annual “Fall Brawl” to battle against some of the best teams on the MBA circuit.  The 27-strong team, a mix of veterans and first timers, represented Booth’s largest-ever participation in the tournament.  

In the first match of the tournament, Booth came out aggressively against SMU and jumped to a lead of 21-0 by the end of the first half.  The forwards led the way with Julian Rowlands (Co-Captain, ‘17) and Brandon Hemming (‘17) both punching in tries from a few yards out and flanker Rob Weir (‘18) trampling a few SMU men on a 30-meter run up the sideline.  In the second half, SMU managed to get a few points on the board before Booth finished the job with tries by inside center Kyle Veatch (‘18), who took a pass from the James McDougall (Australian exchange student) up the middle, and a long run from flanker Andrew Shanley (‘18), who powered his way right through the heart of SMU’s defense.  Outside center Dan O’Brien (‘17) was perfect on all kick conversions for the 35-14 win over SMU.

In the second match, Booth faced off against Wharton - the tournament favorites and eventual champions - who came out of the gates fast with a couple tries and held Booth scoreless with a 21-0 lead at the end of the first half.  After a halftime huddle and a change in defensive strategy, Booth slowed the advance of Wharton, but failed to put any points on the board, losing 28-0.

In the semi-final on Sunday morning, Booth, down a few key players due to overexertion on the dance floors of Austin, matched up against HBS.  HBS jumped out to an early lead, but Booth responded with an interception by inside center Kyle Veatch (‘18) who ran it in for a try before the first half ended with HBS’s advantage 14-5.  In the second half, Booth battled back with a try from forward Rob Weir (‘18) who showed off his speed with another run up the sideline.  Booth continued to fight until the end of the game, but was outlasted by HBS, losing the match 28-10.  

Despite getting knocked out in the semi-final, Booth, with just a few weeks of practice under their belt, looked strong in their first games of the year against the best MBA teams in the country.  “Booth gets started a full month after all of our rivals, leaving us with half the prep time of every team we faced in Austin”, said Co-Captain Julian Rowlands (’17).  “Despite that, our first years brought a ton of athleticism and heart to the field and our second years really showed their experience.  We are excited to bring those weapons to bear against Kellogg and feel well-positioned to earn some hardware at the MBA Rugby World Cup at Duke next spring.”

Booth Rugby will face off against archrivals Kellogg on Sunday, November 13th at 2pm at Diversey Field in Lincoln Park for its final match of the fall season.

 

Booth and Kellogg Host Third Annual ETA Conference by Kyle Veatch

Hundreds of Booth and Kellogg alums and current students gathered at the Chicago Cultural Center to engage during Entrepreneurship Through Acquisition Conference.

Hundreds of Booth and Kellogg alums and current students gathered at the Chicago Cultural Center to engage during Entrepreneurship Through Acquisition Conference.

The third annual Booth-Kellogg Entrepreneurship Through Acquisition (ETA) Conference was held at the Chicago Cultural Center on November 9th and attracted more than 400 attendees.  The attendance, according to Entrepreneur-in-Residence Alex Hodgkin, was the “largest ever gathering under the ETA banner that we know of.”  The conference hosted the “who’s who” of ETA, including some of the most prolific and successful investors, entrepreneurs, thought leaders, and educators, and was attended by hundreds of current and aspiring ETA entrepreneurs.

ETA, commonly referred to as a “search fund” investing, has become a buzz word at many of the top business schools around the country.  The investment model is unique as it gives an ambitious entrepreneur, often times a newly minted MBA, the opportunity to acquire and operate a small business with the financial backing and mentoring of an advisory board.

The comprehensive conference featured a series of panels covering a broad range of topics, including “How to Search and Close”, “The Young CEO Experience”, “ETA Career Path”, and “Evolving ETA Models”.  The expert panels offered candid insight into the challenges and rewards of life as an ETA entrepreneur, and the current state of the market.

A common theme that emerged from the panels is the proliferation of the ETA model over the last few years.  Five years ago, 10 to 15 search funds were raised in a given year; in 2016, there will be over 60.  The proliferation is driven in large part by awareness as more and more MBA programs launch their own ETA curriculum, inspiring new searchers.  

Erick Laseca (‘17), President of the Booth Search Fund Club, delivered the opening remarks at the conference and commented on the growing interest at Booth.  “ETA has become a highly desirable career path at Booth.  Booth MBAs are analytical and process-driven, but crave excitement and are open to calculated risk.  They are also confident enough to step into a CEO role right out of business school, yet humble enough to seek and accept the guidance of experienced investors.” 

Booth is one of the leaders among MBA programs in ETA and has ramped up its programming in the last few years – an effort spearheaded by Alex Hodgkin.  In addition to co-hosting the annual conference, Booth offers an ETA class, taught by adjunct professors and ETA experts Brian O’Connor and Mark Agnew, publishes a podcast series, frequently hosts ETA investors and entrepreneurs, and holds an annual investor summit that connects investors with UChicago students and alumni seeking to raise search funds.  “The ETA Conference, made possible by our flourishing partnership with Kellogg, was a tremendous success”, said Alex Hodgkin.  “Booth’s fast growing ETA program has firmly established Chicago and Booth as leaders in this growing area of entrepreneurship”.  

 

NMSDC Conference sets out to Empower Minority Business Owners

Conference attendees got a chance to network and connect with over 700 exhibitors across major industry giants like  GE and Google.

Conference attendees got a chance to network and connect with over 700 exhibitors across major industry giants like  GE and Google.

The 2016 National Minority Supplier Development Council Conference and Business Opportunity Exchange was held at McCormick Place in Chicago, Illinois, October 23-26. This annual event was the nation’s premier forum on minority supplier development. The conference, lasting four days, saw more than 6,000 corporate CEOs, procurement executives and supplier diversity professionals from the top multinational companies and international organizations, as well as leading Asian, Black, Hispanic and Native American business owners. Attendees convened to re-energize their collective efforts to develop and advocate for more vigorous participation by minority-owned firms in global corporate supply chains.

The theme of this year’s NMSDC Conference and Business Opportunity Exchange was “Minority Supplier Development: Investing in the Future.” During the event, more than 20 educational seminar sessions and interactive workshops engaged attendees with details of the latest commercial advances, strategies and techniques to prepare for economic developments in the coming years.

 

NMSDC president, Joset Wright-Lacy, addresses the 1000’s of conference attendees during the opening reception on Sunday.

NMSDC president, Joset Wright-Lacy, addresses the 1000’s of conference attendees during the opening reception on Sunday.

The  one-day Business Opportunity Exchange had more than 700 exhibit booths and opportunities for establishing business-to-business ties. One of the highlights of the Conference was  the U.S. Department of Commerce Minority Business Development Agency partnered with NMSDC to present Powered by MBDA, a cluster of learning sessions featuring the latest information and trends in federal procurement, international trade and technological innovation.

According to Joset Wright-Lacy, President of NMSDC, “The 2016 Conference and Business Opportunity Exchange will give forward-thinking corporate executives and minority business owners the tools to cope with shifting economic winds, and to take advantage of as-yet unimagined opportunities for commerce presented in the near – and more distant – future.”  Wright-Lacy also added that as the U.S. nears the point where minorities comprise greater than 50% of the population, the need for strong minority-owned businesses in national and global supply chains will be vital to the health of our economy

The economic impact generated by the Conference itself is considerable: $7.5 million total, including an estimate of more than $1 million in state and local taxes and 1,400+ jobs supported. A survey of last year’s Conference attendees show that 73% of the over 6,000 attendees spent more than $1,000 each in the Conference city.

The National Minority Supplier Development Council advances business opportunities for certified minority business enterprises and connects them to corporate members. NMSDC was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes. For more information about NMSDC, check out their website at  www.NMSDC.org.

 

Booth Women Connect Conference Challenges the Status quo

Showing  strong attendance and support,  over 900 women registered for the Booth Women Connect Conference.

Showing  strong attendance and support,  over 900 women registered for the Booth Women Connect Conference.

Booth Women Connect Conference held at the Hyatt Regency Mccormick on Thursday 10/27, proved to be a day filled with inspiration, collaboration, and camaraderie. Over 900 students, alums, and Booth affiliated women registered for this dynamic conference. The conference opened with a keynote address from Marianne Bertrand, a Chris P. Dialynas Distinguished Service Professor of Economics. To a riveted sea of women, Bertrand addressed the topic of “breaking the glass ceiling” where she presented a number of her findings about women across business industries and the discrepancies between the genders in regards to treatment and salary. Bertrand's research encompasses economic, social, and psychological factors that account for the remaining underrepresentation of women in the top corporate echelons and the role of public policy in addressing this gender gap.

The conference offered a number of relevant and timely panel breakout sessions like  “Fine Tuning your Executive Presence” taught by Executive Coach Carol Vernon and “If I Knew what I Knew Now” which facilitated networking to discuss career advancement, building advocacy, and balancing career/family questions. Other panels included a student-only panel called “Mentorship vs. Sponsorship,” which touched on the difference between a mentor and a sponsor, the relative strengths of each of these types of relationships, and how to facilitate and maintain productive connections in both contexts. Anna Chaldysheva ‘17 said “I learned from the panel that at our career level many of our coworkers can be seen as mentors and that we should bring certain mentors to the forefront depending on our objectives and turn them into sponsors for our career growth.”

Many women took full advantage of the amazing networking opportunity the conference presented.  

Many women took full advantage of the amazing networking opportunity the conference presented.  

There was also an entrepreneurship panel called “Ready, Set, Go: Create Shape and Launch your Entrepreneurial Venture.” During this interactive panel, attendees were able to hear from current female entrepreneurs like Andi Hadisutjipto, ('16), Founder and CEO, Riviter, Andrea Sreshta, ('16), Cofounder, LuminAID, and Julia Carmona, ('13), and Lauren Katzberg, ('13), Cofounders, Stylisted. The panel addressed the entire life cycle on entrepreneurship including find a great idea, establishing a team, honing the elevator pitch, and finding the right investors. Women attending the panel were encouraged to network among each other as well to discover synergies and possible business partners.

The lunch keynote speaker was Julie Roehm, '95, SVP Strategic Relationships and Chief Storyteller at SAP. Her speech covered the art of storytelling in business and how to leverage messaging to build your company’s brand equity. She touched on the history of successful storytelling campaigns including Apple’s famous Macintosh Super Bowl commercial in 1984. Roehm emphasized the importance of compelling storytelling and simplicity of brand imaging in order to be successful in today’s consumer marketplace. She mentioned how people gravitate towards simplicity in such a complicated society and the brands that are winning understand this component. She mentioned brands like Uber, Airbnb, and Blue Apron as examples of brands that are making consumers lives more simple and convenient.

Booth Crushes it at the Ross Investment Competition

Proving that Booth students truly are a force to be reckoned with, Brett Bateman (’18), Wyan Yarbrough (’18), and Jack Zhao (‘18)  brought home a win, placing 1st  at the Ross Investment Competition. The competition on Oct. 14th was  hosted by American Century Investments. This year’s victory marks the third consecutive year that Booth has won this challenge.

The competition was held at the Michigan Ross School of Business and consisted of three-member teams from Tepper (Carnegie Mellon), Columbia, Johnson (Cornell), Sloan (MIT), Kellogg (Northwestern), Booth, Ross (Michigan), and Wharton (UPenn). The panel of judges included investment professionals from American Century Investments, Catalyst Capital, INCORE Capital Management, Thrivent Asset Management, Columbia Wanger Asset Management, and Wells Fargo Asset Management.

The stock pitch event consisted of two rounds:  each team presenting during the first round with the top three teams advancing to the final round. Teams were provided a list of companies ten days prior to the competition and were required to prepare two stock pitches, which could be either long or short.

Brett Bateman (’18), Wyan Yarbrough (’18), and Jack Zhao (‘18) brought home a 1st place win for Booth, annihilating the steep competition at this year’s Ross Investment Competition.

Brett Bateman (’18), Wyan Yarbrough (’18), and Jack Zhao (‘18) brought home a 1st place win for Booth, annihilating the steep competition at this year’s Ross Investment Competition.

For the competition, the Booth team chose to pitch long Dave & Buster’s (Nasdaq: PLAY) for the First Round and long Dollar Tree (Nasdaq: TREE) for the Final Round.

For Dave & Buster’s (Nasdaq: PLAY) predicted based on market analysis that national unit count can both exceed the Street and management’s expectations. Also, an improvement in same-store-sales (the driver of the Company's valuation) would result in newer, higher performing stores  added to the comparable base, which would drive both upwards earnings revisions and multiple expansion.

The team presented that Dollar Tree (Nasdaq: TREE) is a defensive business that, along with the broader brick-and-mortar retail landscape, has come under pressure recently. This sell-off has created an attractive entry point given that the core business continues to grow at a healthy rate while the Family Dollar integration offers a multi-year pathway for upwards revisions to earnings estimates. The team’s thesis continued that the  Dollar Tree has a high quality management team and they have a significant opportunity to create shareholder value from the under-managed Family Dollar. Based on the combined  points of  margin expansion, improving returns on invested capital, and upwards earnings revisions, the team predicted that this stock would out perform.

Jack Zhao told Chibus,“The time spent researching these two businesses was an exceptional learning experience.” Reflecting on the preparation for the competition Zhao added, “Our diligence included store visits, customer surveys, detailed financial modeling, and calls with management / industry professionals.”  The team said the experience was very rewarding and they are proud to have brought home a 1st place win for Booth.

 

Fogel Dinner Brings Diversity to the Table

Booth alum and current students came together for a night of celebrating diversity and inclusion during the Fogel Dinner 

Booth alum and current students came together for a night of celebrating diversity and inclusion during the Fogel Dinner 

On October 14th, a number of Booth students and faculty gathered for dinner in honor of celebrating diversity inspired by Nobel Laureate Robert Fogel. The annual dinner, in its 33rd year, was started by Professor Robert Fogel and his wife, Enid, who wanted to bring students of color together in an intimate setting at their home in Hyde Park. As an interracial couple in the 50s and 60s, the Fogels faced discrimination and a feeling of isolation from the community due to the racist views of the time period. Due to this adversity, the Fogels wanted to preach acceptance and inclusion within the University of Chicago community, which they valued greatly. Although Robert Fogel and his wife both passed away a number of years ago, the dinner tradition and the communal experience continues to live on.

 

Booth alumni also attended this dinner and were excited about connecting and networking with current students. During this year's dinner, the Head of Diversity at Booth,Jessica Jaggers, spoke about the importance of keeping the spirit of the Fogel Dinner alive. She also reflected on how our country is still striving for acceptance and tolerance of all types of people. The Interim Dean,

Douglas J. Skinner, also attended the dinner, which was hosted on the 6th floor of the Gleacher center. Among stunning city views, Dean Skinner spoke to the dinner attendees about the importance of diversity in business and Booth’s efforts to improve diversity in both the student body and faculty. He mentioned that it only enriches the classroom experience when there is a diversity of backgrounds, cultures, and thinking. Fogel Dinner attendee and Booth 2nd year, Araba Nti, told ChiBus that the dinner was a great opportunity to catch up with fellow classmates and reflect on the memory of the Fogels, who were proponents of building relationships over good food and conversation.

In Photo from Left to Right: Alejandro Lozano, Elsa Rodriguez, Dan Patton, Wilther Merchan, Javier Rodriguez, Robert Weir, and Alda Lewis

In Photo from Left to Right: Alejandro Lozano, Elsa Rodriguez, Dan Patton, Wilther Merchan, Javier Rodriguez, Robert Weir, and Alda Lewis

Professor Robert Fogel, who passed away in 2013 at age of 86, used quantitative methods to explain economic and institutional change. His work often challenged conventional wisdom and was, at the time, controversial. His research showed that the economic impact of railroads in the 19th century was far less than generally assumed. Fogel was an active faculty member in Economics at Booth and joined the University of Chicago faculty in 1964, moved to Harvard in 1975, and returned in 1981 to the Chicago faculty, where he stayed for the rest of his career.




Connecting Outside the Booth Bubble

The Fall Postdoc Graduate Innovation mixer, held on October 12th at the Polsky Exchange, brought together students from many disciplines within the University of Chicago. ChiBus spoke with Mike Abrahamson, a 1st year at the Harris School of Public Policy, who said, “I came to this mixer because I’m interested in social entrepreneurship at the intersection of innovation and public policy.” Mike stated that he is interested in exploring possible collaborations with students from other programs and competing in SNVC. A number of students across the University from the Law School to the Medical School are interested in meeting and connecting with Booth students to build meaningful relationships and possible businesses through events like this.

Booth Students Jonathan Coffey 17’ and Kyle Mcandrew 18’ talk synergies and possible collaborations with University of Chicago post-doc Sarah Mcmellon

Booth Students Jonathan Coffey 17’ and Kyle Mcandrew 18’ talk synergies and possible collaborations with University of Chicago post-doc Sarah Mcmellon

 

The Postdoc Graduate mixer, offered each semester,  serves as an excellent opportunity to lay the groundwork for meaningful conversation and potential partnerships. Sparking inter-disciplinary collaborations is a real benefit of being a part of the larger community at the University of Chicago. So often we get entrenched within our own programs that we take for granted the diversity of expertise and thought leadership happening in other programs. Touching on the reasons he came to the mixer, Abrahamson added, “The diversity of knowledge is beneficial for all fields and it’s good to meet other people who are doing something different and interesting in a social setting and see if there are ways you can work together.” Jonathan Coffey, a Booth 2nd year who is also a Co-chair of EVC, confirmed that sentiment, mentioning that Booth students should take advantage of the wealth of resources and students outside of the Booth community. “Sometimes we put our head down and get bogged down by business school and don’t interact as much across departments and I think it’s important to network throughout the University and venture out.”  Kyle Mcandrews, a 1st year at Booth who also attended the event said he was excited to start working with a University of Chicago researcher he met while attending a Polsky Collaboration event last month. Mcandrews said, “It’s important to me to interact and make interesting connections across the University. I learn about a lot of cool opportunities that I may not have discovered if I didn’t attend events like this.”
 

The Office of Multicultural Student Affairs also hosted a mixer for graduate students and postdocs to connect and share their experiences across departments. OMSA mixer served as an opportunity to celebrate interdisciplinary diversity and allowed multicultural students to form relationships with other students who may be looking for support from the U of C community. OMSA, like the Polsky Exchange, hosts these interdisciplinary mixers throughout the year and organizers encourage students to get involved in the robust offerings.

Booth Students take on Business in India

“You have reached your destination,” the Emirates loudspeaker projected.  “Welcome to Bangalore.”  It was 4am and I was greeted by two classmates whom I had barely known before arriving in India to spend three weeks consulting with start-ups. But the flight attendant was wrong – the journey was just beginning.

A cacophony of sounds is the first thing that welcomes you to India: music playing in the streets, the relentless roar of traffic. Our first stop was tech hub Bengaluru, where the little army of eight of us – all members of the Booth class of 2017 – began our edition of BOOTHxINDIA, a student-led initiative to collaborate with start-ups across the globe.  There we teamed up with Porter, a logistics start-up focused on becoming the Uber for intra-city cargo delivery, and Oodi, a product design company specializing in integrated web and mobile app solutions for businesses.

Each of us began the journey from different places but had the same “destination” in mind. We wanted deeper insight into the challenges and opportunities that entrepreneurs faced in developing nations. What we quickly realized is that many of the modern approaches to building and scaling start-ups do not yet work in India. How do you scale a business when most of a company’s customers don’t even have an email address? What advice do you give to a company when they have to compete with businesses that give kickbacks to their customers?  As we dived deeper into India’s booming startup scene, we gained a richer understanding of these obstacles.

In New Delhi we partnered with Inficold, a company specializing in thermo-electric energy storage solutions, and Bira, one of India’s first craft brewers looking to expand into the US beer market.  Subsequently in Mumbai, we collaborated with thriving, venture-backed home healthcare provider Care24.  There we designed packages for critical disease management and constructed a pilot program for reducing insurance claims, learning the nuances of the Indian energy, food and beverage, and healthcare industries along the way.

BOOTHxINDIA was a tremendous experience to learn first-hand that being an entrepreneur meant navigating the detours -- protests in Bengaluru, chikungunya outbreaks in Delhi -- and building a path around them. We each boarded the plane back to Chicago with entirely new perspectives and an appreciation for what starting and scaling a business in an emerging market entails.

There’s a well-worn trope in literature where a scrappy band of individuals sets off on a journey, venturing into the unknown, and ends up learning more from one another than they had ever anticipated. We returned to Chicago having learned more from our classmates and from navigating the detours with them than we had ever anticipated, and with new clarity on why we call businesses “ventures.”

India, our adopted nation for those few weeks, is a country of contrasts. Luxurious hotels towering along the highway into New Delhi exist side by side with vast slums. What unites these contrasts, however, is the Indian people’s unwavering positivity and energy to build a better life. The people are what will take this country to new heights and make us want to come back, and we’re so grateful that BOOTHxINDIA gave us the opportunity to be a part of this.

 

Black Lives Matter at Booth

Dozens of University of Chicago Booth Students, dressed in black, gathered on Sept 23rd to support a cause that is stirring up the nation. Raising many questions about race and equality, the Black Lives Matter movement, founded by activists and sisters Alicia Garza, Opal Tometi, and Patrisse Cullors, is a call to action and response to the current police brutality and killing of numerous African Americans. In many of these incidents the victims were unarmed and were not committing a crime when they were confronted by the cops. The Black Lives Matter campaign addresses the frustration and grief that many people feel about the violence and systemic racism toward black people.

Photo Caption: Just back from summer break, dozens of Booth students, organized by AAMBA and HABSA co-chairs, came out to support the Black Lives Matter initiative on Friday Sept 23rd.  

Photo Caption: Just back from summer break, dozens of Booth students, organized by AAMBA and HABSA co-chairs, came out to support the Black Lives Matter initiative on Friday Sept 23rd.

 

The Black Lives Matter movement is founded on a number of principals that welcome inclusion and diversity. The movement emphasizes the collective value and restorative justice, which can be seen in the diversity of people who come out to show support for communities and the significance of all lives. The Black Lives Matter movement really started to pick up steam and garner national attention after 18-year old Mike Brown was killed at the hands of Ferguson Police Officer Darren Wilson. Hundreds of protesters from around the country came to Ferguson to proclaim Black Lives Matter and the world took notice.

The most recent police shootings of 43-year old Keith Lamont Scott in Charlotte and 40-year old Terence Crutcher in Tulsa has sparked outrage and further highlights the tumultuous relationship between law enforcement and black men. In the Tulsa incident the Police officer Betty Shelby who killed the unarmed Crutcher, will face charges of first-degree manslaughter.  The Charlotte Police Department has not yet brought charges on the officer involved in the death of Keith Lamont Scott.

Top business schools across the country including Harvard, Columbia, NYU Stern, and Berkeley Haas are showing their collective support for the Black Lives Movement and mourning the loss of innocent lives by wearing black. Here at Chicago Booth, MBA co-chair, Antoinette King, helped organize dozens of Booth students to wear black and take a photo showing the country we care and want justice and equality for all. In an interview with ChiBus, King pointed out that last year she felt the Booth community was not vocal about the injustices and wanted to raise a dialog about the violence black people were facing across the country. “Last year it was heartbreaking to see how silent my classmates were about the instances of police violence happening all over the country. It was as if no one outside of the Black and Hispanic communities cared,”said King. King, who admits she has always loved Booth and is proud of the community was ecstatic to see the collective support on Friday.

“Seeing classmates and administrators show up and engage on Friday made me realize that this absolutely wasn't true. People do care.” proclaimed King. “They just didn't know how to approach the issue. So on Friday, when so many people pushed past their discomfort and showed support by wearing black it made me love the Booth community even more.”

Organizers of Booth’s Black Lives Matter support initiative hope that Friday’s dressing in black is just the start of a larger conversation about diversity and engagement within the Booth community.

 

School’s Out for the Summertime

Summer is finally here and many of the first year Boothies will be heading off to interesting internships around the world and in varied industries. ChiBus caught up with a couple of 1st years to get insight into their summer adventures and find out what’s eating your classmates.

ChiBus: Where are you headed this summer and what will you be doing?

Pratik Desai: I will be heading to the NYC area to work for Verizon as a Product Marketing intern.

Ziad Abouchadi: I will be interning at T. Rowe Price in their London office. I will be evaluating equity investments in emerging markets.

John Frame: I will be working in human resources at Reformation, a sustainable, environmentally conscious retail company in Los Angeles

ChiBus: What are you most excited about experiencing or learning this summer?

Pratik Desai: I'm excited about three things. First, I have the opportunity to learn more about the field of marketing outside of the classroom. Second, I'm excited to try out living in the NYC area for the first time. Third, as the only Boothie in my intern class, I'm excited to get to know some people outside of Booth. It's going to be an amazing summer!

Ziad Abouchadi: As a career switcher, I am excited about having the chance to work with and learn from top-notch managers.

John Frame: I am excited to understand how Human Resources is incorporated into a company's overall strategy.

ChiBus: What are you anxious about during the summer?

Pratik Desai: I don't have an anxiety. I'm eager to get my feet wet and have an amazing experience!

Ziad Abouchadi: I hear that the summer internships can be quite draining. I will try my best to manage my time well so that I have a chance to explore the city.

John Frame: I am not certain exactly what my project will entail. I'm eager to find out before I start on the first day

ChiBus: How do you feel about becoming a second year now?

Pratik Desai: I'd like to echo something my friend John Edwards told me at the MIT Sloan Conference this year when he said, "this time in our lives is quite fleeting. I just want to enjoy it as much as I can.”

Ziad Abouchadi: It doesn't feel real yet. I guess I need to see the new faces to realize that one year has already passed.

John Frame: I am honestly happy that ear one is over. It's been tough, but incredibly eye-opening. I am excited to take advantage of the leadership opportunities and all of the wisdom that comes with being a second year!

As 1st years gear up for their exciting summers, the Booth community says goodbye to the amazing 2nd years, who helped make the often overwhelming transition into business school enjoyable and way more manageable. Here at ChiBus, the editorial team wishes you good luck and grace in all your future endeavors.

A Celebration of Women at Booth

Connecting with other dynamic female Boothies was the main objective for the CWIB dinner, which had a strong turnout of both 1st and 2nd years. Photo: Marjorie Chelius.

Connecting with other dynamic female Boothies was the main objective for the CWIB dinner, which had a strong turnout of both 1st and 2nd years. Photo: Marjorie Chelius.

Last Thursday, the Chicago Women in Business (CWiB) held its annual Spring Dinner, a formal event that celebrates the women at Booth. The event opened with a cocktail reception and many group photos with the scenic views from Lincoln Park Zoo’s Cafe Brauer in the background. The women were seated shortly after for opening remarks from Dean Stacey Kole. Dean Kole gave a warm welcome to the CWiB members, noting how significant it was to have so many women in the room, for it was not so long ago that the gender ratio was much different.

Not only does Booth have better female representation today, with 42% of the Class of 2017 being women, but Dean Kole made sure to emphasize just how strong a presence our women have as leaders at Booth and in the greater Graduate School community, with KR Ling as outgoing Executive Graduate Business Council President and Elizabeth Gosselin as incoming President, with Katie Perri as outgoing Graduate Liaison to the Board of Trustees and Megan Beck as incoming Graduate Liaison, and with the outgoing CWiB Co-Chairs who maintained CWiB’s strong brand and launched an exciting new initiative, Common Chromosome, putting Booth at the forefront of addressing gender equity in a way that engages both women and men at Booth. The list of amazing women at Booth goes on and on.

New and former Co-Chairs of CWIB celebrate the hard work and accomplishments of their programming initiatives from this year. Photo: Junghoon Han

New and former Co-Chairs of CWIB celebrate the hard work and accomplishments of their programming initiatives from this year. Photo: Junghoon Han

While the event is certainly a celebration of women at Booth and the support system we have built for one another, it is also a subtle reminder that we are not quite there, that we must continue to encourage women to pursue MBAs, that we must work to ensure that we are equitably treated and fairly represented in our future positions. The new CWiB co-chairs understand that it is our responsibility to carry forth the work of past co-chairs and help to not only prepare women professionally for positions of leadership, but also to continue to foster dialogue with our classmates and our networks to figure out how to ensure that our successes are equal, that there is no discrepancy in pay between women and men, and that our biases are curbed to their greatest extent when we serve as managers and heads of organizations. In the past 10 weeks, we have seen just how much work it is to run CWiB from behind the scenes, and we thank Whitney Enright, Darcey O’Halloran, Nicole Lapka, Emily Low, Sarah Reinemann, and Marylynn Diallo for all that they did to shape our experience as members this past year. We are excited to see what the next year brings and what our futures hold, for our classmates have certainly proven that the women at Booth are destined to be great leaders. 

 

 

Booth Investment Club gets inside scoop on Berkshire Hathaway Written by Kurt Lyell '17

Investment Club members got an exclusive opportunity to witness the activity on the ground floor at the Berkshire Hathaway Annual Shareholders meeting.

Investment Club members got an exclusive opportunity to witness the activity on the ground floor at the Berkshire Hathaway Annual Shareholders meeting.

The Booth Investment Club embarked on a 7-hour road trip to Omaha, Nebraska to attend the Berkshire Hathaway (BRK) annual shareholders meeting.

The annual meeting is known as the "Woodstock of Capitalists" and a place where investors come for reunions with friends and colleagues. It is also a sort of mecca journey for business school students. The event was held in the Omaha Convention Center, with approximate attendance of 40,000 according to Yahoo Finance.

Prior to the financial coverage, 2 hours of specialized and hilariously popular entertainment warmed up the audience. Entertainment included an animated cartoon skit spoofing the 80s movie Trading Places featuring Geico’s gecko as Eddie Murphy, and a showcase of Super Bowl-halftime-worthy commercials from BRK holdings and subsidiaries, including Coke, GEICO, Duracell, and others. Next, a video glorifying the construction of a wind farm, highlighting Mid-American Energy’s 3.6 billion dollar investment in an Iowa wind farm and a component of it’s 85-percent renewable energy by 2020 strategy. A comedy skit with cameo appearances from Arnold Schwarzenegger and, rumored crush of Charlie Munger, Jamie-Lee Curtis highlighted 92-year-old Charlie Munger as a Hollywood A-lister and ladies’ man while Buffet waits on hold with Arnold.

The 2-slide financial overview and 5-hour Q&A were webcast for the first time in BRK history. The event is special because of the incredible success of companies spanning decades and its founders’ value-oriented style of investing.  This investment style attracts financially conservative folks who tend to wear blue jeans and drive ordinary cars, yet hold multiple $200,000 plus shares of BRK (at the time of the conference, voting shares traded at $214,000). There is also the charm and wit of the two founders, Warren Buffett and Charlie Munger. Several in the audience take notes to try and catch the "Munger-isms", such as, "If you disagree with someone, you should be able to state their case better than they can. If you can do that, then you can effectively argue", or "Microeconomics is what we do; macroeconomics is what we put up with."  Buffet-ologists would remember one-liners such as Warren Buffet's "A full wallet is like a full bladder; when it gets too full you want to pee it away." or headline-grabbing comments about publically-traded company Valeant's troubles, calling Valeant a "Wall Street Scheme" whose business model is "Enormously Flawed". (Charlie Munger adds in his own succinct version, "Valeant was a sewer.") Booth students met several people including Whitney Tilson, Yahoo Finance's Editor-in-Chief Andy Serwer, whom Jimmy followed with interest and became a source of humor on the drive home.

This trip was a bucket list item for many involved and the memories and friendships will last a lifetime. As founders Warren Buffet (age 84) and Charlie Munger (age 92) are advanced in age, the young clan of the Investment Club should have stories that will be rare in decades to come.

Attendees included: Investment Club co-chair and organizer John Milligan, Elsa Ng, Qi “Jennifer” Shi, Helen Huang, Pak "Jimmy" Wong, Charles "Chad" Miller, Qu "Emma" Xiao, Gongrou "Krystal" Zhu, Lei "Anderson" Dong, and Kurt Lyell.

The next Booth Investment Management Club event is to gather (May 24th at 9:15 PM at NBC/Gleacher) to watch the 1983 original Trading Places (noted to be one of Warren Buffett’s favorite movies); it will be the first viewing for many of the club.  Naturally, a healthy debate of heredity versus environment should ensue!

Kurt Lyell is currently taking his first course at Booth and the Investment Management Club trip to Omaha was his first official Booth Club event!

 

EMS: A Recap of Booth’s Largest Student-Run Conference

Emerging Markets Summit (EMS) was a pinnacle event that brought together influential players from around the world to engage with the Booth community. Toted as Booth’s largest student-run conference, The Emerging Market Summit was a huge undertaking that brought together a number of Booth groups including Chicago Women in Business, the Investment Management Club, and Middle East and North Africa Club. After strong promotions and word of mouth, EMS had a strong turn out of around 350 attendees. Some of the prominent speakers at the event included Tendai Biti, Former Finance Minister of Zimbabwe, Siva Yam, President of US-China Chamber of Commerce; Chairman of US-Vietnam Chamber of Commerce, and Alfredo Moreno Charme, '82, Former Foreign Minister of Foreign Affairs of Chile.

The emerging markets face a unique set of issues and opportunities and the EMS summit looked to address these factors during a number of panels. Broken into five tracks African, Asia, South Asia, Latin America, and MENA, the break out sessions allowed attendees to dive deep into topics about a certain region or jump around to different tracks that may interest them. This aspect of the Summit allowed for an omni-lens perspective and gave insight into potential synergies between countries like China and Zimbabwe. China was a big focal point of discussion as they are positioning to surpass the United States as the next big super power.  China’s private equity investing in U.S. and U.K. companies has become aggressive over the past 5 years, creating bidding wars with companies like Starwood and GE appliances getting stuck in the cross hairs. Also, China has been investing heavily in natural resources from African countries like Zimbabwe, which have some regional experts like Tendai Biti concerned that China is taking advantage and locking governments into damaging contracts.

During the lunchtime Global Roundtable a panel of female executives including  Graciela Cairoli, '82, Vice President of Capital Markets Argentina and Lamia Pardo, VP Global Strategy & Marketing, Pangea Money Transform, discussed the challenges and opportunities for women in emerging markets. On the panel, Pardo mentioned that today women are seeing more opportunities to work in competitive firms, whereas only 10 years ago many of these companies would not have hired women in certain roles. Evening in more developing economies like India, currently there are larger numbers of women than ever before going into entrepreneurial ventures and starting successful businesses.

Co-organizer of EMS, Oma Nwabudike told ChiBus, “The conference made me realize that people within the emerging markets face many of the same issues and can learn from each other.” She also added that for next year’s conference she would like to try to bring more local people representing certain regions to better understand their plights on a micro-level.  

Many of the attendees from the conference mentioned that their takeaway from EMS was the growth opportunities in private equity and entrepreneurship within the emerging markets.

Alexis Miller is a Booth first year who loves journalism, food blogging, and global travel. She is passionate about telling the stories of the Booth community.