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College of BusinessCampus Box 5500Normal, IL 61790-5500

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PA I D

Illinois State

University

A DEDICATED TEAM

THE MAGAZINE OF THE COLLEGE OF BUSINESS · ILLINOIS STATE UNIVERSITY · F A L L 2 0 0 4

Alumni partners

create their legacy

as they help the

College of Business

raise funds in the

corporate world.

PAGE 2

www.IllinoisState.edu/cob

NEWS VIEWSAN

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ALUMNI UPDATESNAME MAJOR GRADUATION YEAR

MAILING ADDRESS

CITY STATE ZIP TELEPHONE

E-MAIL ADDRESS

CAREER, LIFE, INTERESTS

Please complete this form and return to Elaine Graybill, Illinois State University, College of Business, Campus Box 5500, Normal, IL 61790-5500, [email protected], or fax to (309) 438-5510.

ALUMNI INVITED TO PARTICIPATE IN

UNIVERSITY ACCREDITATION PROCESS

Illinois State University is asking its alumni to participate in the

North Central Association (NCA) accreditation process during the

self-study phase. The self-study will result in a report that is the

basis for the NCA site visit in February 2005. A draft of that report

is available on the provost’s Web site, www.provost.ilstu.edu/nca.

Please take time to read and comment on the report before it

is finalized and presented to the Board of Trustees for endorse-

ment in October. The Web site will inform you how to submit

your comments. Accreditation is a voluntary process in which

Illinois State has been participating since 1913, with the last

accreditation taking place in 1995. Accreditation is a form of

quality assurance. Also, accreditation is governmentally recog-

nized and allows institutions access to grants, contracts, stu-

dent aid, and other opportunities.

An equal opportunity/affirmative action university encouraging diversity UNIVERSITY MARKETING AND COMMUNICATION 05-0029 printed on recycled paper with soy ink

Promising transitionsWe approach each academic year with anticipation, but this year is an especially promising one! The

reason is the move to our new academic home in December, with classes beginning there in mid-January.

Thus in early 2005 we will feel not only the excitement of beginning a new year but also the beginning of

a new era for the College of Business.

Our new building, located on the south end of the University Quadrangle, is an impressive

sight. If you have not visited campus recently to see it, we hope you will come soon. I believe

you will be pleased with its size, design, and functionality and that you will enjoy being a part

of academic, professional, and social opportunities that we can host in our new home.

The building project, as many of you know, began with a generous $9 million challenge

grant from the State Farm Insurance Companies Foundation. This gift was followed by a state

appropriation providing an initial budget of $27.9 million that was confirmed in 1999, and our

project was under way!

Hundreds of faculty, staff, students, alumni, advisory council members, and other friends

of the college have been involved in the planning. Many of these also have made additional

financial contributions to make the building the highest possible quality we can afford. We

are grateful for all who have supported us in this effort, and thank you.

In our new building we will have all new furniture and equipment, high-end instructional

technology, and as much new computing equipment as possible. Offices are available for

more than 120 faculty, staff, and graduate assistants, so for the first time in more than 20

years the entire college will be in the same building. In addition to the Caterpillar Auditorium,

we will have 19 general-purpose classrooms and five computer classrooms. In these class-

rooms, almost every seat is wired for power and data, so laptops will now become a regular feature of our

learning environment.

You will be interested in some other unique and innovative features of our new home. First, all of you

alumni who worked on group projects in hallways or dimly lighted areas will be glad to know that we have 10

team project rooms in the building. Student groups will be able to reserve these rooms with their laptop

ports, white boards, and professional furnishings to work constructively on team assignments. Further, every-

one who waited patiently for an available computer in the walk-in lab will be pleased that we are doubling

the size of the student lab from 50 to 100 stations. And we have also included interview rooms, so recruiters

can interview business students in the College of Business rather than in other areas across campus.

Special learning environments abound. For our marketing students, we have the only focus group

room in Downstate Illinois, and our Professional Sales Lab will help students in that program hone their

skills. Finance students—including the student managers of our Educational Investment Fund—will be able

to work in the new Financial Markets Lab. And our business information systems students will have a new

group classroom for many of their courses.

For those of you who seek professional development opportunities, we will have an executive class-

room in which we can offer programs for practicing managers and executives. Several existing programs

will move to this location, and we are exploring a number of other programming possibilities.

And there is much more! Please visit us to explore this personally. The building will be dedicated on

Friday, April 1, 2005, but we will be there in January to welcome you and show you around. We hope you

share our pride in this progress because we need you as an active participant in the life of the college. As

you read about our student and faculty accomplishments in this newsletter, you will see that we have

much to share.

The Magazine of the College of BusinessIllinois State University

FALL 2004 · Volume 8

published annually

CONTACT:

Illinois State University

College of Business

Campus Box 5500

Normal, IL 61790-5500

(309) 438-2251

www.IllinoisState.edu/business

Dean, Dixie L. Mills

FROM THE DEANMESSAGE

CONTENTSA DEDICATED TEAM

1 MESSAGE FROM THE DEAN

2 PARTNERSHIPSCOB’s mini-campaign a special focus

Development outlook

4 THE DIFFERENCEService learning teaches social responsibility

New strategic plan directs COB toward the future

6 COB NEWS

9 A DEGREE OF EXCELLENCEIllinois State ranks nationally for graduates’ CPA pass rate

Department’s overall CPA exam reputation continues to grow

Gold-medal winner Mark Dennis ’02

Gold-medal winner Dan Kelly ’02

2003 Alumni Hall of Fame inductees

12 ALUMNI UPDATESON PAGE

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POINT OF PRIDEThe March 3, 2003 issue of Risk &

Insurance magazine identified the

insurance program at Illinois State

University as one of the nation’s

“best-known” programs, specializing

in risk management and insurance.

Clockwise from upper left, Dean Dixie Mills,

Director of Development Claranne Perkins ’70,

Mary Ann Webb ’78, and Patrick Dienslake ’81.

On the facing page you will readabout the special $3 million mini-campaign for the college in supportof the new building and technologyneeds for the building.

This campaign is a volunteer-intensive effort that won’t be success-ful without the help of alumni vol-unteers. Three of these volunteers

recently discussed why they have chosen to supportthe campaign.

“I’m very fortunate to have made the decisionmany years ago to attend Illinois State University.That decision not only brought immeasurable ben-efits to me and my family, but it also gave me life-long friendships,” said Patrick Dienslake, a 1981finance graduate. Dienslake is president of NationalCity Bank in Bloomington and cochair of the cam-paign committee.

“Illinois State University is an extraordinaryinstitution with a very bright future. I am proudto be associated with it,” said John Rigas, a 1981accounting graduate and the other committeecochair. “The Illinois State community providedmy wife, Therese, and me with excellent educa-tions and life experiences we still cherish today,”he said.

“I believe it is everyone’s responsibility to giveback to the communities in which they havereceived significant benefits,” said Rigas, who ispresident of Microsystems.

Dienslake agrees. “I have chosen to volunteermy time and contribute dollars to the Collegeof Business capital campaign to help acknowl-edge the benefits I received and help provide thesame opportunities for others.”

Another volunteer on the committee is Jeffrey Secord, who graduated in 1971 in businessadministration and then went on to complete hismaster’s in 1973. For Secord, a financial planner,the College of Business is a winning propositionfor all involved.

“The educational experience provided by theCollege of Business is a win-win-win partnershipamong the students, the faculty, and the businesscommunity. The output of that partnership pro-duces successful careers for the students, alongwith an increase in productivity for the businesscommunity,” he said.

All three have been actively assisting inreconnecting alumni, friends, and companieswith the college. This spring they will each besending letters to other graduates in their classes,asking them to support this special campaign.

“I hope all alums will consider the value ofmaking Illinois State University part of theirpersonal legacy,” Dienslake said.

One of the greatest joys of development work is the opportunity to work with dedicatedvolunteers who share your passion for finding new ways to financially support the greatwork being accomplished in the College of Business.

From far left, Patrick Dienslake, John Rigas,

Mike Emmert, George Eovaldi, Mike Richard,

Sharon Rossmark, Jeff Secord, and Mary Ann

Webb. Not pictured, Eric Loughmiller.

BY CLARANNE PERKINS ’70, DIRECTOR OF DEVELOPMENT, COLLEGE OF BUSINESS

www.IllinoisState.edu/business 3

NEWS VIEWSAN

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2 www.IllinoisState.edu/business

OUTLOOKDEVELOPMENT

COB’S MINI-CAMPAIGN

PARTNERSHIPS

A SPECIAL FOCUS

As Illinois State University’s

first comprehensive cam-

paign, Redefining “normal,”

enters its later stages, the

College of Business (COB)

has been selected as a

special focus for additional

support. University

Advancement has desig-

nated the college for a

“mini-campaign” with the

goal of raising about $3

million to assist the college

in meeting its goals.

This particular stage of the campaign is focused primarily on organizations with which the collegehas relationships, but which have not yet made campaign pledges or contributions.

The steering committee for the mini-campaign consists of alumni and friends who are developingthe requests for support.

Cochairs of the steering committee are: Patrick Dienslake ’81, president, National City Bank, BloomingtonJohn Rigas ’81, president, Microsystems

Other steering committee members include:Mike Emmert ’75, LECG L.L.C.George Eovaldi, retired State Farm vice presidentEric Loughmiller ’81, VP and chief financial officer, ThoughtWorks, Inc.Mike Richard ’75, senior VP and treasurer, McDonald’s CorporationSharon Rossmark ’78, assistant VP, Agency Distribution, Allstate Insurance CompanyJeff Secord ’71, M.S. ’73, president, Financial Education Consultants, Inc.Mary Ann Webb ’78, partner, Sulaski & Webb CPAs

One of the campaign goals is to find additional resources for technology and equipment in thenew COB building, as well as other enhancements that will improve its quality and durability.There is also a menu of naming opportunities that will allow donors’ gifts to be recognized in thebuilding. Several areas already have designated names.


Dale Fitzgibbons, associate professor in the Depart-ment of Management and Quantitative Methods(MQM), does his part to develop socially awarefuture leaders. The curriculum Fitzgibbons offers inMQM 380, “Teams and Team-Building,” is known as

“service learning.” MQM 380 is one ofa four-course sequence for leadershipmajors, and consists mostly of seniors.

One definition calls service learn-ing “a form of experiential education inwhich students engage in activities thataddress human and community needstogether, with structured opportunitiesintentionally designed to promote stu-dent learning and development.”

“Service learning is a very hottopic these days,” Fitzgibbons said. “To me, service learning is about givingsomething back to the community.”

Fitzgibbons generally assignsteams of students to a not-for-profitorganization in town to help theagency organize, plan, and execute asignificant project. “In service learn-

ing,” Fitzgibbons said, “the key is to have a concep-tual and educational component to it that is tied backto what we are learning in class.”

Breaking a project into pieces is one concept hisstudents learn. Working interdependently providesopportunities for students to learn many concepts,including respecting others’ agendas, negotiating,scheduling, and exhibiting patience.

One semester his students were assigned to workwith the coordinator of a new welfare-to-work pro-gram called Job Partners, sponsored by the McLeanCounty Chamber of Commerce. Their task was toidentify program needs and help establish the pro-gram. Students in the class set up a Web site for JobPartners, produced two brochures, and created aclient data base for funding purposes.

Another semester Fitzgibbons assigned studentsthe task of looking within the University for thingsthat they could help improve. Topics the differentteams chose included parking, the Career Center, stu-dent advising, the University’s comprehensive fund-raising campaign, the textbook system, freshmanmove-in, and the low student use of the Bone StudentCenter. One team created a database for the CareerCenter that is still being used.

In the spring semester of 2004, Fitzgibbonsassigned the 60 students in his classes to help with theopening of Compassion Center, a day center offeringservices and refuge for homeless people in Blooming-ton-Normal. According to an article in The Panta-graph, teams of students cleaned, inventoried dona-tions, coordinated a paper products drive, contactedbakeries to arrange for bread donations, developed avolunteer training manual and a Web page, and coor-dinated the grand opening.

Two students in the spring of 2004 class talkedabout how they already had given their time to volun-teer service projects in the past, but that this experi-ence has made them think more about how social


responsibility fits into the working world that theywill be entering soon. Junior Lisa Twardowski, with adouble major in organizational leadership and parks

and recreation administra-tion, said she now believesthat a socially responsibleorganization would be “abetter employer,” and thatwill affect her decisionabout where to work.Senior Grant Schnabel,majoring in organizationalleadership, said that asmanagers, “our duty is thatif the company is notsocially responsible, tomake it that way.”

Both students agreed that learning social respon-sibility is by no means the only outcome of thecourse. The Compassion Center, Twardowski said was“a tool for us to learn teamwork.” Schnabel said thatteamwork is the major emphasis of the course:“Building the team, cohesion, and accomplishing acommon goal.” Twardowski’s team of three peopledeveloped a timeline and history of the CompassionCenter project. Schnabel’s team of four functioned asa “cubicle team” responsible for the set-up of officecubicles. Students in Fitzgibbons’ two sections ofMQM 380 spent every class hour in the classroomwith discussion and readings from a text, Becoming aTeam. Work at the Compassion Center took placeoutside of class.

In addition to teaching teamwork and showingstudents the tangible needs of others, the experiencesin MQM 380 show students that the talents andskills they learn in their COB coursework also can beused to help solve social problems. Schnabel said that,unlike some classes, MQM 380 “is an experience I’mgoing to remember.”

GOALS AND CRITICAL SUCCESS FACTORS

GOAL 1:

To develop professionals who can provideleadership to business and society

CRITICAL SUCCESS FACTORS:

· High expectations for excellence in stu-

dent performance and ethics

· Graduates prepared to be independent

lifelong learners

· An integrative and responsive curriculum

that provides current professional skills

· Graduates prepared for post-graduate

programs and/or professional certifica-

tions where applicable

GOAL 2:

To be a demographically and intellectually

diverse community promoting excellence


· Excellent faculty and staff who will meet

the needs of the college and its students

· Social and intellectual traditions that

engender a sense of community

The College of Business unveiled last fall its new strategic plan, which includes vision

and mission statements, three goals, 15 critical success factors, and numerous action plan

suggestions, assignments of responsibility, and a timeline. The plan was developed over

a year in consultation with faculty, staff, and students, with the assistance of Marsha

Hausser and Rick Walsh from Caterpillar Strategic Consulting. The key points follow.

COB VISION

To be the first-choice college of business among public universities in Illinois for high-

achieving motivated students who seek an individualized educational experience with

the resources of a large university.

COB MISSION

To be a highly respected college of business that develops professionals with the personal

dedication, ethics, and lifelong learning capabilities needed to succeed professionally

and to serve society. We work as a diverse community promoting excellence in learning,

teaching, scholarship, and service.

· State of the art facilities and technology

for students, faculty, and staff

· A diverse group of high-quality students

· An individualized educational experience

GOAL 3:

To enhance positive recognition of the

college


· A faculty with nationally recognized

expertise

· AACSB accreditation for business,

accounting, and graduate programs

· Placement rates that are equal to or

higher than our peer institutions

· Respected business partners who

increasingly seek to hire our graduates

and promote our college

· Niche programs that strengthen partner-

ships with business partners and alumni

· An effective marketing communications

strategy

NEW STRATEGIC PLAN DIRECTS COB TOWARD THE FUTURE

“Service learning is a very hot topic these days. To me, service learning is about giving somethingback to the community.” —Dale Fitzgibbons

Service learning teaches social responsibility

THE DIFFERENCE

NEWS VIEWSAN

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Above, students working at the Compassion

Center. Facing page, Dale Fitzgibbons

awarded a Ph.D. in educational administration.He was promoted to full professor in 1987.

Jim Moon, chairperson of the AccountingDepartment, said, “Tim has been a good friendand colleague. He has enjoyed a national reputa-tion for successfully publishing systems and soft-ware text materials. He has willingly shared hisexpertise with our students and has led the collegein the development and implementation of studentsoftware development and proficiency exams.”

Max Rexroad hangs up his red hat

Accounting Professor Max Rexroad, remem-bered fondly by a legion of alumni, retired at theend of 2003 after 34 years of service to IllinoisState University. Rexroad has several signatures:a red derby; more recently a red 10-gallon hat;and many, many photos he has taken of groupsof people at department and college events giv-ing the thumbs-up sign.

Rexroad passed the CPA exam in 1971 andwas an Elijah Watts Sells Award winner. During1977-1978 he worked for Price Waterhouse inPeoria. In the early 1980s he completed a finan-cial accounting internship at State Farm.

Rexroad came to Illinois State Universityin 1969 and has taught primarily auditing,financial accounting, and CPA review courses.He served as faculty advisor to the IllinoisState University Student Accounting Societyfor 10 years. During the last several years hehas been director of the Master of Science inAccountancy and Master of ProfessionalAccountancy programs.

Rexroad has received numerous awardswhile at Illinois State University, including Out-standing Accounting Faculty Performance Awardfor Scholarly Productivity, COB Faculty of theYear Awards, and Accounting Professor of theYear Award.

Rexroad has taken leadership through manycommittees and professional organizations. His

department and the college deeply appreciate hismany contributions.

He and his wife, Elaine, have two sons,Max and John, and two grandchildren, Thomasand Michael. Max and Elaine plan to spendmany of their free hours enjoying their grand-children and working on their home in thecountryside of Congerville.

Katie Insurance School has good year

The 2003-2004 year for the Katie School ofInsurance and Financial Services was exceptional.The Katie School enrollment for spring 2004broke 300 students for the first time, which ismore than a 70 percent increase in two years.Fortunately, the increase was due mainly toincentives offered to honors and high-achievingstudents which kept the quality of students inthe program high, and the growth coincidedwith a surge in insurance-industry hiring.

In addition to providing the industry withtalented, hardworking graduates, the KatieSchool maintains and develops other ways toadd value through networking events, executiveand professional development, and research. Afew examples follow.

An Academic Experience Committee ofindustry executives works with the Katie Schoolto recommend appropriate student experiencesand curriculum to optimally prepare students forthe industry. The Katie School/CPCU (Char-tered Property Casualty Underwriter) Men-torship Program links students to CPCUs forjob-shadowing experiences and career advice.

The Katie School was able to place and sup-port six Illinois State University insurance majorsin international internships in the Lloyd’s ofLondon, Bermuda, and Zurich markets. Ourdomestic internship program is even stronger aswe work with dozens of companies to find intern-ships. The Katie School Student LeadershipProgram in Risk Consulting brings together 20top students to participate in an eight-month pro-gram culminating with a student risk consultingproject at a local not-for-profit organization.

For more than a decade the Katie Schoolhas conducted industry programs, including theExecutive Forum in Chicago. This year’s forumattracted more than 200 executives who cameto hear a panel of senior insurance companyexecutives and risk managers discuss markettrends, organizational practices leading to prof-itability, and upcoming industry challenges. Forthe ninth year the Katie School delivered a one-week program in Chicago and on campus toexecutives from London through the LondonMarket Executive Program. The annual KatieSchool Symposium, which matches industrypresenters with academic researchers on specifictopics, had a record attendance with this year’stopic on corporate governance and businessethics. This year we also provided professionaldevelopment programming to Katie boardmember companies on commercial insurancecoverage and leading organizational excellence.

Professional Sales Programawarded industry certification

Illinois State University’s professional sales pro-gram and Professional Sales Institute is among thefirst in the world to be awarded the distinction asa Certified Sales Program by the ProfessionalSociety for Sales and Marketing Training (SMT).

SMT sets the standards worldwide for edu-cation and development programs in sales andmarketing at the commercial and university levels.

6 www.IllinoisState.edu/business www.IllinoisState.edu/business 7

Retired MQM professor killed in accident

Sharad S. Chitgopekar, 65, of Pune, India, for-merly of Bloomington, died of severe head injurieson December 2, 2003 in Pune. He was hit by amotorcycle while crossing the street.

Chitgopekar and his family lived in Bloom-ington from 1979 to 2002. He moved to Indiaafter retirement from the Department of Manage-ment and Quantitative Methods to pursue volun-teer work in rural education of women in WesternIndia. He established a charitable trust in India forthat purpose.

Chitgopekar was an avid bridge player. Hewas an active member of the McLean CountyIndia Association and the Hindu Society of Cen-tral Illinois.

Chitgopekar is survived by his wife, Suneeti;daughter, Anuradha Khanna; and son, Unmesh.Other survivors include his mother, a brother, andtwo sisters who live in India.

Donations in his memory may be made toHindu Society of Central Illinois,1309 ChadwickDr., Normal, IL 61761. The collection will besent to Chitgopekar’s charitable trust in India.

Erika Gilbert retires after 14 years

Finance Professor Erika Gilbert, who has mademany scholarly contributions to her field, retiredat the end of 2003 after 14 years of teaching.She was the 2002 recipient of the College ofBusiness Outstanding Service Award.

Finance, Insurance, and Law ChairpersonChuck McGuire expressed his appreciation forGilbert’s years of service. “Dr. Gilbert is one ofthe most student-centered faculty on campus,”McGuire said. “She works tirelessly with stu-dents on a one-on-one basis for internships andfor their careers. She will be sorely missed.”

Gilbert’s teaching interests are corporatefinance and banking. Her research focuses on

mergers and acquisitions, capital structure,agency theory, short-term financial management,and banking. She has published in numerousprofessional journals.

IES Director Winchell changes roles

Professor Mike Winchell, who joined the facultyin August 1974, retired as director of the Insti-tute for Entrepreneurial Studies (IES) at the endof August 2003 and then became Colemandirector of the IES under a grant from the Cole-man Foundation. The grant, for more than$180,000, supports the IES in the followingways: a director at 60 percent, graduate assis-tants, new student internships, and faculty andstudent travel.

Winchell earned all of his degrees at IllinoisState University: a bachelor’s in business educa-tion in 1968, a master’s in business education in1972, and an Ed.D. in educational administra-tion in 1975. His first faculty assignment was lec-turer. He was promoted to full professor in 1983.In June 1991, Winchell was named director ofthe Small Business Institute, and later led devel-opment of the entrepreneurship/small businessmanagement sequence in the management major.

Tim Duffy retires from Accounting

Accounting Professor Tim Duffy, who joined thefaculty in August 1975 as an instructor, retiredon May 15, 2004. Most recently Duffy taught“Introduction to Business Information Systems”and “Advanced Microcomputer Applications forthe Professional.”

Duffy earned all his degrees at Illinois State.In 1972, he earned a bachelor’s degree in Span-ish, and in 1979 he earned a bachelor’s degree inbusiness administration. In 1973 he earned amaster’s degree in Spanish, and in 1980 he was

COB NEWS

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THE COLLEGE’S NEW HOME

The College of Business (COB), established in 1967,

soon will move into the new building that will be a

fitting home for the excellence of its endeavor to

prepare students for business careers in the 21st

Century. To read more about the building, see the

dean’s message on page 1 and visit the Web site

www.cob.ilstu.edu/building. A quick statistical com-

parison between the new building and Williams Hall,

home to COB since 1981, shows how the additional

space alone will serve the college well.

New building Williams Hall

Net Assignable Square Feet 73,705 38,396

General Use Classrooms 20 13

Computer Classrooms 5 4

Special Purpose Classrooms 4 2

Herb Dennis with his son Mark Dennis.


Illinois State ranks nationally forgraduates’ CPA pass rate

The University ranked second in the nation and firstin Illinois for the number of students passing all fourparts of the May 2002 CPA exam.

The National Association of State Boards ofAccountancy ranked institutions with 20 or moregraduates who are first-time candidates withoutadvanced degrees. Illinois State candidates who tookthe test in May 2002 had a 47.6 percent pass rate,with the national average at 15.4 percent.

The November 2002 exam found Illinois Statecandidates fifth in the nation with a 38.7 percentpass rate, while the national average was 16.7 per-cent. Illinois State University was one of only twoschools in the nation placing in the top 10 pass rateson both exams.

Department’s overall CPA exam reputation continues to grow

The accounting program at Illinois State Universityhas a national reputation for the number and successof students sitting for the CPA exam. Graduates excelon the CPA exam, with a first-time pass rate that reg-ularly exceeds the national average. In 1993 anIllinois State alumnus, Ken Grapperhaus, earned thetop score in the nation. An Illinois State alumna,Laura Truttmann, tied for the second highest CPAexam score in Illinois on the May 2002 exam, earninga silver medal.

The Excel Gold, Silver, and Bronze awards aregranted to the top three Illinois candidates finishing

within the top 120 nationally and achieving a score of80 or above on all sections of the CPA exam. Overthe years, Illinois State has had 32 Elijah Watt SellsAward winners; one National Gold Medal winner;five State Gold Medal winners, four Silver Medalwinners, one Bronze Medal winner, and eight ExcelAward winners.

Illinois State University is one of only 150 busi-ness schools in the nation to have achieved accredita-tion for its undergraduate and graduate programs inboth business and accounting by AACSBInternational—The Association to Advance CollegiateSchools of Business. AACSB International is the pre-mier accrediting agency for business schools.

Gold-medal winner Mark Dennis ’02the second in his family to excel

Mark Dennis ’02 was the second person in his familyto win an Excel Award for outstanding performanceon the CPA exam and the first to win a medal for thehighest score in the state. His brother, Matt, whograduated from the University of Illinois and took theexam in May 1995, won an Excel Award for finishingamong the top 120 nationally.

In February 2003, when Mark received his scoresfrom the November 2002 exam, he knew they mightmerit an award, since they were higher than Matt’sscores had been. Mark’s scores were: audit, 93; law,94; FARE, 98; and ARE, 99. Several weeks later hereceived a letter telling him he would receive theExcel medal. He, Dan Kelly (see accompanyingstory), and one other person received gold medals fortying for the highest performance in the state and


BUSINESS WEEK 2004 PREPARES

STUDENTS FOR “PEAK PERFORMANCE”

Enterprise Rent-A-Car CEO and Chairman

Andy Taylor was the keynote speaker for

Business Week 2004, which took place

March 22-25. The week’s theme was

“Prepare for Peak Performance: Business is

a Marathon, not a Hundred-Yard Dash.”

Taylor’s address was titled, “Time-Tested

Business Model Guides Success for

Enterprise Rent-A-Car.” Business Week has

been a yearly event since the mid-1970s.

In addition to the keynote address,

Business Week 2004 featured the tradi-

tional ice cream social, alumni panel, and

alumni presentations. Mock interviews with

15 employers were a new feature this year,

with the goal of helping students sharpen

their career focus and interviewing skills.

This year’s alumni panelists were:

Maria Cimadevilla, M.B.A. ’94, educational

administration consultant, former execu-

tive director of performance assessment

scoring services at the Princeton, New

Jersey, Educational Testing Service

Seth Davis ’94, manager of internal audit

and compliance, RLI, Peoria

Dawn Skaggs Forden ’99, casualty faculta-

tive underwriter for Swiss Reinsurance

America Corporation

Richard Frey ’82, vice president and gener-

al manager for the St. Louis Gateway

Division of PepsiAmericas, Inc.

Rosemaria Levinsky ’82 and ’84, vice presi-

dent and general counsel of Hendrick

Health System in Abilene, Texas

Angela Nagel ’94, finance manager for

Lighthouse Home Center in West

Lafayette, Indiana

Receipt of this distinguished certification bySMT signifies that the Illinois State Universityprogram is among the best-of-the-best in theworld, and has not only met but indeed exceededrigorous requirements.

The Illinois State University sales programbenefits some 250 students each year.

Agreement forged with Bermuda College

An agreement between Illinois State Universityand Bermuda College creates the opportunityfor graduates of Bermuda College, Paget,Bermuda, with associate’s degrees in businessadministration to be admitted to the insuranceprogram and to be affiliated with the KatieSchool of Insurance and Financial Services inthe College of Business. Bermuda College is apublic institution with an enrollment of about1,200 students.

AMA chapter named best in the Midwest and the world

The Illinois State University chapter of theAmerican Marketing Association (AMA)brought home the gold in March from itsnational convention, where it won MidwestChapter of the Year and International Chapterof the Year (Best Overall Award of all CollegiateChapters). To top it off, club advisor ProfessorJames Cox was named Outstanding FacultyAdvisor of the Year. Christa Wylie is this year’sIllinois State AMA president.

In addition, the Illinois State UniversityCareer Center gave its first annual studentorganization of the year award recipient to theIllinois State AMA chapter as the registeredstudent organization that has been most instru-mental in facilitating Career Center Servicesduring the past year.

FIL Department forms advisory board

Chuck McGuire, chairperson of the Finance,Insurance, and Law Department, formed theFinance Advisory Board (FAB) early in 2003.The function of the FAB is to provide advice tothe finance program about such issues as cur-riculum, placement, internships, networking,and research, and to help obtain support forprograms. Members of the FAB are:

Brian Bruce, Director of Global Investments,Pan Agora Asset Management, Boston

Thomas G. Estey, Senior Vice President, Commercial Lending, LaSalle Bank, N.A.,Chicago

Scott Joyce, Corporate and Investment Banking,Wachovia Bank, Charlotte, North Carolina

Richard D. Landsburg, Attorney, AdvancedMarkets, Nationwide Financial Services,World Headquarters, Columbus, Ohio

Larry Lonis, CFA, Vice President, BankOne,Chicago

Dean McNaught, Corporate Financial ServicesManager, Caterpillar Inc., Peoria

Nancy Philipsen, Investment Officer, State FarmInsurance Companies, Bloomington

Robert W. Rush, Jr., Executive Vice President,COUNTRY Trust Bank, Bloomington

Jeff Scott, CFA, Zone Sales Associate Manager,State Farm Insurance Companies, Rosemont, Illinois

Jeffrey R. Secord, Financial Education Consul-tants, Inc., Chicago

Richard Spycher, Vice President, credit, ArcherDaniels Midland Company, Decatur

William J. Strnad, Senior Vice President, Invest-ments, Smith Barney-Citigroup Global Mar-kets, Inc., Chicago

Charles R. McGuire, Chair, Department of Finance, Insurance, and Law, Illinois State University

Plus ex officio members

A DEGREE OF EXCELLENCE

NEWS VIEWSAN

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Illinois State University was one of only two schools inthe nation placing in the top 10 pass rates on both Mayand November CPA exams.

Daniel Kelly with Illinois CPA Society

Executive Director Elaine Weiss


Rexroad and other professors when I visited,” he said.To prepare for the CPA exam, he took a BeckerConviser CPA review course that met two nights aweek in Peoria. Mark Dennis took the same course(see accompanying story).

Dan didn’t really have a sense of how well he haddone after he took the grueling two-day exam early inNovember. “I walked out of there like most peoplethinking, ‘I don’t know how I did.’” When hereceived his results in the mail in February, he knewhe had done well, but was not to know about theExcel medal until the day of the CPA banquet inChicago. “Honestly, I was just glad I passed so Iwouldn’t have to do it again,” he said. His scoreswere: audit, 92; law, 94; FARE, 99; and ARE, 99.

The CPA banquet for all those who had passedthe exam was in April 2003 at a hotel in downtownChicago. Dan’s wife, Amy, M.S. ’03, a dietitian,accompanied him, and a number of partners and oth-ers from McGladrey and Pullen attended.

Dan credits the Illinois State University depart-ment for some of his success. “I had a lot of goodprofessors during graduate school that helped me toprepare for the exam and provide guidance for takingthe exam, and also helped me after I graduated withbasic career questions. The one professor who helpedme the most was Dr. Caroline Craig, with whom Ihave been in contact on a couple of occasions sincegraduation with questions relating to possibleemployer contacts and other career-related questionsand she has been very helpful in these matters.”


ranking among the top 120 scorers nationally on theNovember 2002 CPA exam.

Mark graduated from Illinois State University inAugust 2002. He returned in the fall to take advancedtax and audit classes, and to study “many hours aday” for the CPA exam. He also took a BeckerConviser CPA review course in Peoria. After he sat forthe exam in Peoria, he felt confident about the auditand law sections. “Honestly, I didn’t even know if Ihad passed the whole thing,” he said. “I certainly did-n’t think I had done as well as I did.”

The medal was presented to him at an April ban-quet in Chicago honoring all who had passed theexam. Attending on his behalf were his parents,friends from his accounting firm, and two IllinoisState University faculty members: Wendy Duffy andHarlan Fuller.

Mark had started work at PricewaterhouseCoopersin Chicago on January 2, 2003, as a “new associate”and now is an “experienced associate.” He said hespends 95 percent of his time doing auditing on sitewith his clients. He works mostly in the Midwest, buthe did spend 10 weeks in Washington, D.C., workingon the restatement audit of Freddie Mac, a govern-ment-sponsored enterprise created by Congress tohelp fund home mortgage loans. Mark is workingtoward becoming a senior associate and being incharge of some of his own jobs.

When he looks back on his experience at IllinoisState, he thinks of faculty who were instrumental in

his success. “There were a lot, but Wendy Duffysticks out in my mind as being particularly helpful,”he said. “I was really happy with the AccountingDepartment and the College of Business in general.Kudos to the professors, because they are fantastic.”

Gold-medal winner Dan Kelly ’02caught the accounting bug in high school

When Dan Kelly was a student at Rochester (Illinois)High School, he signed up for accounting as an electiveto fill his schedule. And the rest is history, as they say.

Dan’s teacher praised him for how quickly he wascatching on to accounting. Because of that teacher’sencouragement, Dan decided to pursue it in college.Dan earned a B.S. in accounting from BradleyUniversity in 2001 and an M.S. in accounting fromIllinois State University in 2002. He began workingfor McGladrey and Pullen in September 2002, shortlyafter he graduated. When he took the CPA exam inNovember 2002, he tied with two others, includingIllinois State graduate Mark Dennis ’02, for the high-est score in Illinois and scored within the top 120nationally. His performance earned him the ExcelGold Medal.

Dan, an associate on the audit side withMcGladrey and Pullen in Raleigh, North Carolina,chose Illinois State University for graduate workbecause of “the feeling I got when I talked to Dr.

“I was really happy with the Accounting Departmentand the College of Business in general. Kudos to theprofessors, because they are fantastic.” —Mark Dennis

COB IS PROUD TO WELCOME THE 2003

INDUCTEES INTO ALUMNI HALL OF FAME

Sally Bulkley Pancrazio ’60,

Bloomington

Dean Emerita, Illinois State

University College of Education

Tom Reedy ’81, Hinsdale

President and CEO of iTRACS

Corporation

James Tyree ’78, M.B.A. ’80,

Chicago

Chairman and CEO of Mesirow

Financial

(2004 inductees will be

honored in the next issue)

Richard Manahan ’65, M.S. ’71, Ed.D.

’75, Johnson City, Tennessee

Vice President for University

Advancement/Executive Vice

President of the Foundation at East

Tennessee State University

Brian Robert Bruce ’77, Sudbury,

Massachusetts

Director of Global Investments for

PanAgora Asset Management

NEWS VIEWSAN

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POINT OF PRIDEMore than 300 students attended the

42nd annual Pi Sigma Epsilon national

convention held, April 13-18, in Reno,

Nevada. Based on the annual per-

formance report of all chapters, the

Illinois State Delta Omega Chapter

finished fourth in total points. The

chapter’s performance also earned it

the William H. Harris Top Chapter

Award in the Silver Award category.

At the convention, senior Sean Turner

of Normal won the Vector Marketing

Pro-Am Sell-a-thon. This competition

among 25 finalists from around the

country simulated a sales call on the

vice president of purchasing at a

high-end cutlery retailer. Students

were given 10 minutes to perform and

were judged on the execution of their

sales techniques.

POINT OF PRIDECOB alumni facts, as of August 2004:

30,314 total degrees for living alumni

27,492 total living alumni

26,395 alumni with addresses

(96 percent)

19,625 alumni with phone numbers

(71.4 percent)

9,727 donors to University in lifetime

(35.4 percent)

2,532 donors to college in past two

years (9.2 percent)


Finance

GREG GODSIL ’85, WAKE FOREST, NORTH

CAROLINA

MARRIED: Sharon

CAREER: District sales manager for Central Soya

INTERESTS: Officiating basketball and football

games, playing baseball, and riding his motorcy-

cle. He also coaches his daughter’s fast pitch soft-

ball team.

PAUL D. HOFFMAN ’84, CHESTERFIELD, MISSOURI

CAREER: Has worked in insurance since graduation

and earned his Chartered Property Casualty

Underwriter and his Associate in Risk

Management designations. He is a senior technol-

ogy underwriter for Chubb and Son in the St.

Louis branch.

BOB MCDERMOTT ’86, SPRINGFIELD, ILLINOIS

MARRIED: Tracy; two children: Taylor and Jacob

CAREER: Works for the Rochester Community Unit

School District #3A as their director of business

services and assistant treasurer

INTERESTS: Coaching son’s soccer team, his daugh-

ter’s softball team, and going to Cardinal baseball

games

Marketing

DIANE FREEMAN ’90, PEARLAND, TEXAS

CAREER: Sales manager with the Four Seasons

Hotel in Houston, Texas. She has worked in the

hotel industry for 12 years.

INTERESTS: Enjoys traveling, reading, arts and crafts,

and making jewelry

KAREN REEVES ’90, LINDENHURST, ILLINOIS

CAREER: Project manager for M.J. Electric, which

does distribution and substation work across the

country. She previously worked for a competitor

in purchasing and project management for 11

years.

STEPHEN J. RICE ’95, SANTA BARBARA,

CALIFORNIA

CAREER: President and founder of Censura Group,

Inc., a business/management consulting firm

based in Southern California. He received his

M.B.A. from Pepperdine University’s Graziadio

School of Business and Management. He also

earned a certificate in global enterprise manage-

ment at the University of Oxford, Kellogg College

in England.

TRACY SCHMITT ’92, MEDINA, OHIO

CAREER: Account manager on the business devel-

opment team at Masterfoods USA. She works

with the top retailers in the country to secure new

locations and permanent distribution of confec-

tionery items.

M.B.A. Program

GARY S. KEPHART ’96, PIKETON, OHIO

CAREER: Manager of Environment, Safety, and

Health for Portsmouth Gaseous Diffusion Plant

with Bechtel Jacobs Company LLC

DAVID MAGERS ’86, BLOOMINGTON

CAREER: Vice President at COUNTRY Insurance and

Financial Services since 1998. He assumed the

position of chief financial officer on December 1,

2003. He is a member of the Illinois Society of

Certified Public Accountants and the American

Institute of Certified Public Accountants, and is

completing his Certified Financial Planner desig-

nation. He is also a member of many local boards

and committees.

NICOLAS QUERETTE ’92, AACHEN, GERMANY

CAREER: Director of sales and marketing for a Saint

Gobain subsidiary in the automotive business

In Memoriam

ANTHONY E. CASCINO, SR.,

DECEMBER 7, 2003

Cascino, age 86 at the time of his death in

Lakeland, Florida, was the recipient of a Doctor of

Humane Letters honorary degree from Illinois

State University, awarded in recognition of his

efforts in the establishment in 1991 and continued

funding of the Katie School of Insurance and

Financial Services, named in memory of his

granddaughter, the late Mary Katherine Nicosia.

PHILIP E. GHANTOUS ’98, BLOOMINGTON

M.B.A.

FEBRUARY 18, 2003

CAREER: He worked for Illinois Power Co., in Clinton

and Decatur. Most recently he was Supervisor II of

energy management for State Farm Insurance

Cos. in Bloomington, and owned and operated

Pocketful of Memories in Normal.

BROOKE MARIE MARTIN ’03, GIBSON CITY

BUSINESS ADMINISTRATION

MAY 2, 2003

She received her degree posthumously on May 10,

2003. She was a member of the Gamma Iota

Sigma Insurance Fraternity.


Accounting

KATHY CAZIN ’73, SAN DIEGO

CAREER: Owner of Account Keepers of San Diego

for seven years. She helps small businesses set up,

train, and troubleshoot their accounting practices.

She also is a certified QuickBooks advisor. She

previously did fund accounting for the library sys-

tem and the U.S. Navy for 21 years.

MARK HARTING ’73, SPRINGFIELD, ILLINOIS

CAREER: Controller for the Illinois Auto Dealers

Association

INTERESTS: Golf and motorcycles

SUSAN M. (THOMAS) KOHL ’90,

ATLANTA, GEORGIA

CAREER: After more than 10 years in various credit

and financial positions between public and private

industries, she accepted a position as ERM

Director at Hagemeyer North America, a Dutch-

owned company. She is active in executive man-

agement and field operations.

INTERESTS: Rollerblading, kickboxing, mountain bik-

ing, and enjoying the Gulf Coast beaches when

time permits

EDWARD M. LICEAGA ’01, CHICAGO

CAREER: Attending Loyola University’s M.B.A. pro-

gram while working as an equity research analyst

for Merlin Capital Corporation, a private invest-

ment fund.

LILIANA TAIMOORAZI ’01, BLOOMINGTON

CAREER: Real estate agent with Coldwell Banker

INTERESTS: Cooking and attending concerts when-

ever possible

Business Administration

TIMOTHY BRENNAN ’70,

GLENMOORE, PENNSYLVANIA

MARRIED: Susan Lamkin (’70, special education);

three daughters

CAREER: Employed as a major accounts manager

by Dun and Bradstreet (D&B). He has been work-

ing for D&B since 1970, mainly in sales and sales

marketing in several cities all over the United

States.

INTERESTS: Outdoor photography and golf

FAITH BROOK ’85, JACKSONVILLE, FLORIDA

CAREER: Review advisor for the U.S. Department of

Housing and Urban Development. She is a

Certified General Appraiser in the state of Florida.

VINCENT A. DE LUCA ’90, NILES

CAREER: Vice president for manufacturer relations,

Recreation Group, Deutsche Financial Services. He

has been with the company since June 1995. He

represents the company at the factory level, both

recreational vehicles and marine manufacturers.

He was married in October 2002.

INTERESTS: Real estate investing and motorcycling

SCOTT GRAHAM ’77, LAS VEGAS, NEVADA

CAREER: President of MBI x-ray and medical supply

PATTI SARLES HART ’78, ATHERTON, CALIFORNIA

CAREER: On March 1, 2004, named chairman and

CEO of Pinnacle Systems, Inc. Previously CEO of

Excite@Home and Telocity, and president and

COO of Sprint’s Long Distance Division.

GAIL L. NUNNERY ’95, CLINTON

CAREER: Vice president and trust officer at State

Bank of Lincoln

GARY W. PETERSON ’73, AURORA

MARRIED: Judith (B.S. ’73, social work); children:

Erik and Anna

CAREER: Previously employed in the aerospace

industry. Currently he is the pastor of Word of Life

Lutheran Church in Naperville.

ROBERT W. ROBINSON ’80, BELVIDERE

CAREER: Vice president of Captive Resources LLC in

Schaumburg, a private firm specializing in manag-

ing offshore member-owned group captives for

business casualty insurance. He previously worked

for 17 years at Liberty Mutual in various sales and

management positions.

RICK A. SCHMIDGALL ’78, ELGIN

CAREER: Owns AmericInn Motel and Suites of

Sheboygan, Wisconsin. He retired as a licensed

Nursing Home Administrator and now is a journal-

ist for 26 new automobile manufacturers’ press

fleet in the Midwest United States. He also has

served on various boards, city commissions, and

the Chamber of Commerce for the past 20 years.

TERRY WILLIAMS ’70, LOMBARD

CAREER: Associate professor and chairperson of the

Department of Leadership, Foundations, and

Counseling in the School of Education at Loyola

University in Chicago. He received his master’s in

college student personnel administration from

Indiana University in 1974 and his Ph.D. in higher

education administration from Florida State

University in 1980. In March 2003 the National

Association of Student Personnel Administrators

honored him with the Robert H. Shaffer Award for

Academic Excellence as a Graduate Faculty

Member, at its 85th annual awards luncheon, in St.

Louis.

MARTIN A. LYONS, M.B.A. ’00

Has been named senior vice president-ethanol

sales and marketing for the ADM Corn Processing

division, Decatur. Lyons is responsible for the

sales, marketing, and distribution of fermentation-

grade ethanol to fuel, beverage, and industrial

ethanol customers. Lyons joined ADM in 1979 and

previously served as vice president and director-

ethanol for ADM Corn Processing.

Business Teacher Education

BARBARA (DEACETIS) GOLDEN ’80, JOLIET

MARRIED: Bennett Golden

CAREER: Earned her M.B.A. from Lewis University in

1990. In 2002 she became tenured at Joliet West

High School. She teaches computer applications

in the freshman technology prep program, using

some of the latest software and technology.

INTERESTS: Raising and showing champion show

dogs, traveling, and shooting pool

KENNETH F. HUDDLESTON ’65, CROSSVILLE,

TENNESSEE

CAREER: Retired professor of small business

management at the University of Wisconsin

at Oshkosh

DIANE (MUNDY) OTTO ’84, KEOKUK, IOWA

CAREER: Self-employed as a Quixtar independent

business owner. “Do you remember Amway?

Well, they have kept their superior product lines

and have added some other very interesting

services and products for both business and

home use. With this endeavor, I set my own

hours each day and work it all around the busy

schedule of being a mother of two teenage

daughters and wife of a railroad engineer. So,

my business degree really has come in very

handy, because on a daily basis I’m managing,

marketing, administrating, and delegating.”

ALUMNI UPDATES

NEWS VIEWSAN

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POINT OF PRIDE

COB ALUMNI BY UNDERGRADUATE MAJOR:

Accounting 5,289 undergrad

Business AdministrationBusiness Administration 7,480 Business Information Systems 895 Total 8,375

Business Teacher Education 2,224

Finance 3,891

Insurance 411

International Business 696

Management2,146

Marketing4,841

COB ALUMNI BY GRADUATE MAJOR:

Accounting275

M.B.A.1,859

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