Business Leaders Magazine 2009

A publication of the Walker College of Business at Appalachian State University www.business.appstate.edu

WALKER COLLEGE OF

Business Leaders M A G A Z I N E 2 0 0 9

THE WALKER COLLEGE DEAN’S CLUBYour Opportunity to Send Support Back Home.

Dean’s Club members receive:

• Invitations to the Harlan E. Boyles Distinguished CEO Executive Luncheon, which provides opportunity for interaction with the state’s business community and our students.

• An invitation for indoor seating at an ASU football game.

• Credit toward membership in Appalachian’s Chancellor’s Society, which offers free parking on campus.

• An invitation to various college alumni and friends receptions and chancellor events.

• Recognition as a Dean’s Club member in publications.

• A gift of Walker pride and token of our appreciation for each consecutiveyearofmembership,todisplayinyourhomeorofficerecognizing your giving level.

The Walker College Dean’s Club.Your opportunity to support the school that helped you get where you are.

The Dean’s Club is an annual giving society thatbenefitthestudents,facultyandprogramsin the Walker College of Business at Appala-chian State University. By joining the Dean’s Club, you are providing invaluable, unre-stricted support each year for critical needs in the college. Membership requires an annual gift of $1000.

To join the Walker College Dean’s Club, contact Rod Hudspeth at (828) 262-6231 or go to: business.appstate.edu/give/deansclub.php

Walker College of Business Leaders MagazineLeaders Magazine is published annually by the Dean’s Office for alumni, faculty, staff and friends of the college.

AdministrationRandy Edwards, DeanHeather Norris, Associate Dean for Under-graduate Programs and AdministrationJospeh Cazier, Assistant Dean for Graduate Programs and ResearchMarty Meznar, Assistant Dean for International Programs and Assessment

Development OfficersRob HudspethGerry Smith

EditorHaley Childers

Contributing WritersKati KnowlandJane NicholsonRob Robertson

Contributing PhotographersMarie FreemanMike RomingerTroy Tuttle

On the CoverThe 2009 Class of the Martha Guy Summer Institute for Future Business Leaders with Miss Martha Guy (center, in red) and mem-bers of the Appalachian State University administration.

Appalachian State University is committed to equality of educational opportunity and does not discriminate against applicants, students or employees on the basis of race, color, national origin, religion, sex, age, disabling condition or sexual orientation. Appalachian also actively promotes diversity among students and employees.

Contents

8 16 5

02 A Message from the Dean

03 College Events

04 Student Spot

12 Focus on Faculty

15 Around Raley

18 Alumni and Friends

19 How to Make a Difference

08 Be the Change You Wish to See in the World

16 Martha Guy Summer Institute Celebrated

IN EVERY ISSUE

FEATURES

Walker College of BusinessAppalachian State UniversityBox 32037Boone, NC 28608-2037www.business.appstate.edu

Comments, suggestions or questions:[email protected] 828-262-2057

2 Appalachian State University

A MESSAGE FROM THE DEANWelcome to our most recent issue of Business Leaders Magazine. As you read through this publication, I hope you share our pride in the Walker students who have excelled in regional and national competitions, who have become entrepreneurs and environmentalists, and who have traveled abroad seeking to make

a global impact. Our faculty members are on the cutting edge of business research. In this edition you’ll read how the United States may be moving toward adopting new accounting reporting standards, learn about the dangers of disposing computersandfindoutstartlingstatisticsonchildlabor. We’re pleased that the Princeton Review again named the Walker College as one of its best business schools and that Appalachian rose again in the US News & World Report’s 2009 American’s Best Colleges Guide. There is a lot going on around our campus this fall. The tradition of great Harlan Boyles Distinguished Lecture Series speakers continues as the CEO of BB&T, Kelly King, comes to campus on October 5. The Global Opportunities Conference is in its second year and on October 9 will focus on: “Creating Your Own Global Future: Exploring New Frontiers When Times are Tough”. On October 20, a new event, the Family Business Forum, will feature the Presidents of successful, family-owned businesses as speakers, includ-ing those from Biltmore, Cheap Joe’s Art Stuff, Grandfa-ther Mountain and Tweetsie Railroad. We’re delighted that Matthew Szulik, Chairman of the Board of Red Hat, Inc. and 2008 Ernst & Young National Entrepreneur of the Year will be speaking during the 8th annual Carole Moore McLeod Entrepreneur Summit on November 6. The upcoming football season promises enjoyable

fall afternoons. We’ll hold our College of Business Game Day and Tailgate on Wey Hill (across Rivers Street from Raley Hall) on October 24. We hope you’ll make plans to re-turn to campus for that game and for the homecoming game tailgate on Duck Pond Field on October 10. In many ways, it is the “best of times and the worst of times” in the Walker College. The “best of times” is that we certainly do have outstanding students and faculty members. The “worst of times” is that, as are many of you, we also are experiencing the effects of the unstable economy. We do not expect to receive our state-appropriated budget for thefiscalyearthatbeganonJuly1untilOctober.Inthepastfivemonths,wehavebeenundertwostatebudget“freezes”that severely restricted any spending. Also, most of our en-dowed scholarships and other endowments have not generat-ed any payout for the current academic year. This means that the total amount awarded for scholarships for the current year willbesignificantlylowerthanlastyear.Italsomeansthatwe will not be able to provide some of the other opportunities to our students that we have been able to offer in the past. Onewaytomeetthefinancialchallengesisthroughour annual fund – the Walker College Deans Club. I invite you to join and make a difference in the lives of our outstand-ing students. Funding from the Deans Club is used in areas of greatest need such as scholarships and other support for students and faculty. For more information about joining the Deans Club, see the inside cover of this magazine. You may also contact Director of Development Rob Hudspeth ([email protected]), Advancement Specialist Gerry Smith ([email protected]), or me ([email protected]). Please be an active part of the Walker College team. Thank you,

Randy Edwards, ’77, ‘78Dean

The Walker College is accredited by AACSB International – The Association to Advance Collegiate Schools of Business. AACSB accreditation represents the highest standard of achievement for business schools worldwide. Less than one-third of U.S. business school programs and only 10% of business school programs worldwide meet these rigorous standards. The Walker College is one of 555 accredited member institutions and has been accredited since 1976.

3Walker College of Business

WALKER COLLEGE OF BUSINESS ADVISORY COUNCIL MEMBERSMark E. Trivette ‘83, ChairPartner, Transaction Advisory Srv, Ernst & Young LLP

Richard G. Sparks ’76, ’78 Vice ChairPresident & CEO, Appalachian Regional Healthcare System

J. Cantey Alexander III ’86President - Triad Region, BB&T Corporation Roger L. BeahmCEO & Chairman, Beahm & Associates, LLC

W. Winfield Beroth ’65President, Beroth Oil/4 Brothers Stores

Ryan Bolick ‘01 Partner, 33 West Consulting, LLC

H. Edward Boyles, Jr.Managing Director, Wells Fargo Securities

Marshall A. Croom ’86Senior VP – Merchandising and Store Support, Lowe’s Companies, Inc. Robert G. DarstRetired, Burlington Industries, Inc.

Robin H. Gagnon ’82, ’95Partner, We Sell Restaurants

James E. Harris ‘84CFO, Coca-Cola Bottling Co.

William R. HollandChairman, EnPro Industries, Inc. Helen Hollifield ‘87Tax Partner, Deloitte & Touche Thomas H. Hudspeth, Jr. ‘82, ‘83, Partner, PricewaterhouseCoopers Doug Johnson ‘77CEO, Blue Ridge Electric Membership Corp.

Scott Lampe ’94 CFO, Hendrick Motorsports

Lynn MingesExecutive Director, Tourism, Film and Sports Development, NC Department of Commerce Charles V. Murray ’87President, Murray Supply Company Phillip Ostwalt ‘83Partner, KPMG, LLP Kenneth G. Reece ‘73Sr. VP - Private Banking, First Tennessee Bank

John Roos, ‘84Chief Sales and Marketing Officer, BCBS of North Carolina

John E. SilviaChief Economist, Wells Fargo Securities Allan SingerManager, McNair Law Firm, PA Frank H. Skidmore, Jr.Retired Managing Principal, IBM Global Services Gerry Smith ’70Retired First VP Investments, Smith Barney

Carmen ThorpeDirector, Automotive Aerospace & Defense, IBM Global Services Members EmeritiWilliam S. Creekmuir William G. Ervin Joseph F. Freeman, Jr. Jeffrey A. Shepard Mike Steinback G.A. Sywassink ’94

COLLEGE EVENTSOctober03 The 7th Annual Finance & Banking Career Day will be held in Raley Hall.

05 The Harlan E. Boyles Distinguished CEO Lecture and Reception brings Mr. Kelly King, President and CEO of BB&T Corporation, to campus as the featured lecturer.

09 The High Country Global Opportunities Conference will be held at the Broyhill Inn and Conference Center.

10 The College of Business Homecoming Reception will give Walker Col lege alumni and friends an opportunity to tailgate at the Duck Pond Field beforetheMountaineerstakethefield.

21 This fall’s Insurance Career Fair will begin on Oct. 21 and continue through Oct. 22.

23 The Scholarship Reception will provide a forum for student recipients to meet their scholarship donors at the Broyhill Inn.

24 The College of Business Football Game Day Reception will give Walker College alumni and friends an opportunity to tailgate at Farthing Hill beforetheMountaineerstakethefield.

31 The Accounting Alumni CPE Conference will be held at the Broyhill Inn and Conference Center.

November6 The 8th Annual Carole Moore McLeod Entrepreneur Summit will host more than forty entrepreneurs on campus and will feature a keynote address by Matthew Szulik, Chairman of Red Hat, and the 2008 Ernst & Young Entrepreneur of the Year. Twenty students will be selected to pitch their ideas to a panel of entrepreneur judges in the “Pitch Your Business Idea in 90 Seconds” contest.

December13 Appalachian State University Commencement

February 201009 11th Annual Lewis L. Mack Alumni Day

March 201025 The Harlan E. Boyles Distinguished CEO Lecture and Reception for

spring 2009 will feature Clark Kinlin, CEO of Corning Cable Systems

26 The College of Business Honors Convocation Ceremony will be held at the Broyhill Inn and Conference Center. Students with the highest GPA and outstanding students participating in student organizations will be recognized.

26 The Beta Gamma Sigma Induction Ceremony, also held at the Broyhill and on the same day as the Honors Convocation, recognizes the top ten percent of students.


SpotFour Risk Management and Insur-

ance (RMI) students participated in the Independent Insurance Agents & Brokers of America annual National Legislative Conference and Convention in Wash-ington, D.C. April 29-May 1, 2009. The conference focused on important insur-ance and national issues confronting lawmakers, agents and brokers and is the insurance industry’s best-attended, most effective legislative event of its kind.

Students heard insights from some of the top insurance company CEOs, includ-ing the state of our national economy, the economic challenges facing insurance carriers and the industry, the property-casualty insurance cycle, the TARP program, insurance regulatory reform, and other challenges and opportunities facing the independent agency system.

During the trip, the students met with Senators Richard Burr and Kay Hagan, as well as Representatives Virginia Foxx and Sue Myrick and discussed pertinent issues facing the insurance industry and consum-ers. The group also took a “behind the scenes”touroftheCapitolbuilding.■

Dr. Joseph Cazier (center) stands among some of the 64 students enrolled this year with the MBA program within Walker College. Most of the students, 42, will attend classes full time on the Appalachian State campus; 4 will attend part-time, and 18 are in the off-campus program in Hickory. The program started in July. The priority of the 32-hour MBA program is to “offer a high-quality MBA Program designed to assist students develop professional skills that are valued in today’s business world.” Contact Dr. Cazier, [email protected],ifyouhaveanyquestionsorinterestintheprogram.■

Insurance students met with Senator Richard Burr to discuss pertinent issues facing the insur-ance industry and consumers.

Members of the 2009 Holland Fellows Class from Appalachian and Fudan Universities are pictured atop Grandfather Mountain in the Spring of 2009. The William R. Holland Fellows Program for Business Study in Asia is in its 13th year.

RMI STUDENTS PARTICIPATE IN LEGISLATIVE CONFERENCE

A New Crop of MBA StudentsStudent

2009 STUDENT ENTREPRENEUR OF THE YEAR

Eric Christianson Cornwell of Kilmarnock, Va., received the Student Entrepreneur of the Year Award from the Center for Entrepreneurship. Cornwell is a junior management major with a concentration in entrepreneurship. The $2,500 award is presented annually to student business-owners. Cornwell started a window tinting business while a sophomore in high school. Within a couple years, he began tinting commercial and residential properties. His company now tintswindowsacrosstheEastCoast.■


Student Entrepreneur of the Year Eric Christianson Cornwell, who began his own window tinting business in high school.

When Ryan Klinger, Andrew Drake, Spencer Price and Justin Henry created a working bicycle from plastic drink bottles, they didn’t know their creation would take them to California. The Appalachian State University industrial design majors won the firstnationalJuicyIdeasEntrepreneurial/Environmental Contest, a competition in which college students from across the United States created something of value from an item that is typically thrown away as trash.

The students learned of their status as national award-winners from Mary Radomile, Google program manager, who notifiedthemviaWebconferenceheldoncampus. Joining in the surprise celebration were Appalachian’s Chancellor Kenneth E. Peacock, representatives of competition sponsors AdvantageWest and DigitalChalk, and a cheering squad of friends, classmates, faculty and others.

Appalachian’s Center for Entrepreneur-ship worked with AdvantageWest to orga-nize the regional competition. Additional sponsors were American Green and Jute.

The competition was organized as a way to encourage entrepreneurship and communicate a message of environmental responsibility.

“This competition illustrates the col-laborative relationship between our faculty, staff and students in the areas of sustainabil-ity, design and entrepreneurship,” said Ken-neth E. Peacock, chancellor at Appalachian. “These students, with their creativity and teamwork,areareflectionofthefutureofour nation. They are thinking globally and of ways they can impact the world.”

Theteamwasamong14finalistsfromcolleges across the country. Each participat-ing region had a different “throwaway” item from which students had 10 days to create something of value and upload a video of their project to YouTube for judging. The top three teams from each region advanced

to the national competition. The team from Appalachian was the regional winner in Western North Carolina.

A panel of judges evaluated the entries in terms of originality, creativity, entrepre-neurship, innovation and environmental responsibility. According to Dale Carroll, president and CEO of AdvantageWest, entrepreneurship continues to play a major role in the global economy and is increas-ingly important to the long-term health and growth of rural regions across America.

“As the economic development com-mission for the 23 counties of Western North Carolina, AdvantageWest continu-ously explores new and innovative paths to encourage the spirit of entrepreneurship as part of its economic development strategy,” he said. “We believe one of the best ways to accomplish this is by encouraging the use of technology and stimulating creativ-ity in the youth of the region – beginning in kindergarten and continuing through their post-secondaryeducation.”■

Bike Crafted Plastic Bottles Wins National Entrepreneurial Contest

A team of students from Appalachian State University comprised of Justin Henry, left, Spencer Price, Ryan Klinger and Andrew Drake won the national Juicy Ideas Entrepreneurial/Environmental Contest for a bi-cycle they created from plastic drink bottles. They are pictured with Chancellor Kenneth E. Peacock.

Twelve students from Appalachian State University’s Walker College of Business won seven national awards at the Association of Information Technology Professionals (AITP) National Colle-giate Conference in Oklahoma City April 2-5. More than 600 people attended the conference from more than 65 schools across the country.

“Our trip to the conference was a great suc-cess,” said computer information systems assistant professor and club adviser Scott Hunsinger. “Our annual fundraiser along with student travel grants enabled these students to bring an impressive, seven national awards home to Appalachian.”

The Appalachian chapter was one of only four schools recognized nationally, and the only school intheirfive-stateregionnamedOutstandingStudentChapter of the Year. They were also recognized as having the most informative Web site.

In addition to the group successes, several of the club members took top honors in various compe-titions.MichaelWardplacedfirstintheundergradu-ate student paper competition, and Whitney Powell received an honorable mention in the same category. Ward received $250 for his achievement. Andrew Crenshaw received an honorable mention in the PC Troubleshooting Competition, and John Keels had one of the top eight scores on the test. Paul Visentin won the Best Tech/Geek Video Contest, receiving $100fromOfficeDepotforhisefforts.Hunsinger,who traveled with the group, earned the AITP faculty “Going the Extra Mile” award.

The students held a pasta dinner and silent auc-tion on campus to raise funds to travel to the competi-tion. This marks the third consecutive year that the clubhaswontopawardsatthenationalconference.■


Student Spot AITP WINS TOP HONORS THREE YEARS RUNNING

A team comprised of business finance majors from Appalachian State University won the inaugu-ral CFA NC Society Investment Challenge. They are Bixby Stewart, seated left, and Taylor Boyle, and Marshall Hargrave, standing left, and Chris Simmons, right. Delbert Goff, center, a professor in Appalachian’s Department of Finance, Banking and Insurance, helped prepare the students for the competition. Also participating on the team but not pictured is Josh Gates. The undergradu-ate team went on to defeat MBA students from Duke, North Carolina, UNCC and Wake Forest in the regional competition.

Appalachian State University business students Molly Morgan, left, Appalachian Chapter Presi-dent Seth Hall, Madison Pender and Sarah Weir received top honors at the Pi Sigma Epsilon (PSE) 2009 National Convention held in Norfolk, Va. Under Hall’s leadership, the chapter recently ranked 10th in Pi Sigma Epsilon’s National Chapter Efficiency Index rankings for 2008-09.

Business Fraternity Wins Big

Finance Students Take Down Regional Competition


This past spring, twenty Appalachian State University students collaborated with 19 students from the Universite Catholique de Louvain (UCL) in Belgium on a semes-ter-long project as part of an international entrepreneurship class led by Bryan Toney, director of Appalachian’s Center for Entre-preneurship, and Dr. Frank Janssen, a pro-fessor of entrepreneurship from UCL. They were assisted by Julia Rowland, assistant director for the Center for Entrepreneurship.

The course began with the Appalachian students travelling to Belgium, where they were hosted by their UCL counterparts for a week. After developing business ideas, students divided into 10 multicultural teams and began working on business plan projects.

In addition, they attended a lecture on the European Union, visited with two Belgian entrepreneurs, toured a traditional small Belgian brewery and visited the European headquarters of Greensboro-based Center for Creative Leadership, where they met with staff and participated in leadership exercises. The group also visited historic sites in Brussels, Leuven and Bruges.

Later in the semester, the Appalachian students hosted UCL students and organized a number of activities. While in Boone, the UCL students were hosted by Joseph Miller at Cheap Joe’s Art Stuff, where they learned about one of the world’s largest art supply businesses. They met with John Allen from 78-year-old Allen Industries, one of the na-tion’s leading commercial sign manufactur-ers. They were also hosted by Crae Morton at Grandfather Mountain.

The visit culminated with a visit to the Center for Creative Leadership’s corporate headquarters in Greensboro, where the Bel-gium students learned about the innovative leadership training company and partici-pated in interesting exercises that helped themreflectonwhattheylearnedduringthesemester.

“Students learn on so many differ-ent levels with this unique course format. In addition to learning about international business and how to develop business plans, they build strong friendships by hosting each other in their homes, resulting in a deep understanding of each other’s culture,” Toney said. “Both Appalachian and UCL students actively participate in the delivery of the course by organizing group activities fortheirguests.Intheend,theyallfinditdifficulttosaygoodbyetotheirnewinterna-tional friends.”

The relationship with the Universite Catholique de Louvain has developed as part of the Consortium for Small and Medi-um Sized Enterprises and Entrepreneurship Education (SMEEE), which includes partner universities in Belgium, Spain and Germa-ny, plus the University of North Florida and Clemson University.

Since its inception in 2003, Appala-chian’s participation in SMEEE has resulted in 27 students spending at least one semester abroad on student exchanges, more than 100 Appalachian students travelling to Europe as part of short-term courses and 10 faculty and staff travelling to Europe leading stu-

dent groups, attending consortium meetings and participating in faculty exchanges and joint research.

In the past, the international entrepre-neurship course has partnered with students at universities in Spain, Belgium, Austria and Germany. A new version of the course, international entrepreneurship and global technologies, is being offered this fall in partnership with the European University of Madrid’s Valencia campus.

Here’s what one student, Senior Lauren Johnson, had to say about the experience: “My study abroad experience “opened my eyes to new opportunities and possibilities for my life and my future career. It also helped me to prove to myself that I can ac-complish something that I put my mind to and adapt in new environments. What I will take with me from this class are life-long friends and memories, the knowledge that there are so many different approaches to doing things, the ability to keep an open mindaboutpeople,theconfidencethatIamcapable of following through with my aspi-rations, and the experience to comfortably travelabroadinabusinesssetting.”■

Appalachian and European Students Collaborate in Entrepreneurship Course and Cultural Exchange

Students from Appalachian State University and students from the Universite Catholique de Louvain in Belgium sightsee during their exchange experience.


“Be the change you wish to see in the world,” has always been

one of Sarah Green’s favorite quotes. During her studies at

Appalachian State’s Walker College of Business, it became more

than a motto. Thanks to a spring abroad, an influential student

group and a powerful CEO speech, it became a guiding light for her

life.

Now, the 22-year-old senior happily promotes the benefits of

international travel to any student she meets, while preparing for

a possible career abroad promoting entrepreneurship and measur-

ing strategic risk in a country whose citizens have traditionally been

averse to business risk.

“Everyone in the world is interconnected. The more we expand

our mindsets on what’s going on in the world, the better it will be

for all of us,” said Sarah, who encourages all of her classmates to

find similar international experiences. “Getting involved offers

students amazing experiences and, as a byproduct, makes them

more competitive in the work force.”

Sarah’s attraction to international study opportunities began

even before she came to Walker College. Soon after graduating

from Northwest Guilford High School in Greensboro, she and some

of her peers took a trip to Nicaragua where they helped build a

school and plan an afternoon sports camp for elementary-aged

students. The experience impacted her. Although she was im-

pressed by how content the Nicaraguan children appeared, she

quickly realized how unnecessary it seemed for them to be so poor.

Be the Change You Wish to See in the World

One Appalachian Student’s Story of Finding and Pursuing Her Passion

Even a balloon would make the children happy, but they were unaware that opportunities existed to improve their lives.

Sarah, back row, left, with a fellow teammate and AIESEC member and several Rwandan school children.


“Even a balloon would make the children happy, but they were

unaware that opportunities existed to improve their lives,” Sarah

said. That summer, she began considering how the lack of

knowledge about existing resources robbed groups like the

Nicaraguan people of opportunities to better their situations.

She wanted to help.

“Be the change you wish to see in the world.”

With the passion to help others semi-formed, Sarah began her

studies at Appalachian. That passion soon flourished thanks to the

many study abroad opportunities promoted by Walker College, and

its encouragement to explore international relations. Sarah became

interested in one particular group – AIESEC – and she was instru-

mental in creating an official AIESEC chapter at Appalachian.AIESEC

is a student organization dedicated to developing leadership skills

and expanding members’ world views, while providing members

international internships and on-campus cultural events. Sarah

chose to pursue an International Business major, which required an

international experience. Sarah quickly chose her trip – Alicante,

Spain.

In Spring 2008, with funding from a Walker College scholar-

ship, Sarah joined two other students studying at the Universidad

de Alicante. She pursued the trip primarily to improve her Spanish-

speaking skills and because of the rich history and culture of the

area. But while there, Sarah said she learned what it was like to be

a cultural outsider while still experiencing an empowering sense of

independence.

“When traveling abroad you have to take initiative and learn

how systems work in other places,” she said. “It’s a lot of trial and

error that ends up being fun.”

During her time in Spain, Sarah served as president of AIESEC

Appalachian. While in this role she was approached by Walker

College faculty about using AIESEC to coordinate a global trade

conference to be held at Appalachian. With a firm understanding

of AIESEC’s mission, Sarah insisted that such a conference focus not

solely on business, but also on opportunities to interact interna-

tionally on a social and cultural level. She wanted others attending

the conference to leave the meetings with a similar belief to hers

– that

seemingly insurmountable social, cultural and economic obstacles

all over the world can be overcome. She began planning what

would become known as the Global Opportunities Conference

while abroad in Spain.

As much as Sarah immersed herself in international study, it

wasn’t until Spring 2009 that she realized how much it meant to her

“Everyone in the world is interconnected. The more we expand our mindsets on what’s going on in the world, the better it will be for all of us.”

Sarah and group members sight-seeing in the Bwindi Impenetrable Forest


when she interned with a large accounting firm in Washington,

D.C. Although she gained valuable work experience and enjoyed

her time there, she felt unfulfilled. At the end of the day, she

hadn’t directly impacted anyone’s life but her own. She hadn’t

made a difference in the world.


Back at Appalachian that fall, Sarah continued her

business studies. She was interested in finding a new

international experience, while inciting her peers to do the

same. Working through AIESEC, Sarah discovered and applied

for a Young Entrepreneurs traineeship in Kampala, Uganda, that

was available in Summer 2009. The traineeship focused on

teaching entrepreneurship to students at Makerere University

Business School. Her lesson plans included helping Makerere

students develop and implement a business plan.

“The traineeship led me to Uganda, but I’ve always felt a

draw to Africa,” Sarah said. “Some see it as dismal place with

civil war and conflict, but I see that as an opportunity to make

a difference. Because of high unemployment in the region,

the concept of entrepreneurship is appealing to the people.

The mindset is that anyone can create a job for themselves.

They think that if they have an idea, they can start a business

and make money. However, they have no concept of how to

position themselves strategically in a marketplace. There is no

real understanding of how to take a unique idea and become

competitive and successful.”

Sarah spent the summer with her class encouraging her

students to take risks. Sometimes she was successful, as in

the case of a student who won a class contest with the idea

of a plantain recycling business that produced clean-burning

Sarah - front, second from left - and fellow

students visit the Equator during their

time abroad in Africa.

Makerere University Business School (MUBS)

Sarah teaching on her last day at Makerere Business School


charcoal. Sarah’s encouragement, combined with their ingenuity,

won them 2 million shillings (about 2,000 dollars) from the DFCU

bank, who sponsored the competition. Sarah and three teammates

from the Netherlands secured the sponsorship as part of an annual

competition called AFRICA YES (an AIESEC program). This sponsor-

ship allows these and other students an opportunity to test their

business plans in the Ugandan marketplace.

While working with the African students, Sarah realized that

the American mentality of “going in and doing great things” wasn’t

quite right. She now believes that providing people with resources

and opportunities that enable them to help themselves is the best

way to truly improve their world. “This experience changed my

perspective about how to help people and help develop countries,”

she said.


In the spring of 2009, Sarah attended the Harlan Boyles Distin-

guished CEO lecture on campus. It would further change her life.

Jim Morgan, CEO of Krispy Kreme Doughnuts, delivered a

speech to a crowd of more than 500 students and faculty. The

message was personal for Sarah. Morgan talked about his own

passion for his career, and Sarah wanted that passion. She

remembers Morgan saying that if you have a job you’re not

passionate about, then you are doing someone else’s dream job or

fulfilling someone else’s dreams for you.

Sarah had been offered a job with the accounting firm in

Washington, D.C., and the offer was still on the table. She knew

the easy choice was to accept the high-paying job, but over the

next few days, she kept thinking about Morgan’s words. She knew

it might be seen as irresponsible, especially given the current

economic downturn, to decline the job, but she didn’t want to live

someone else’s dream. She wanted to be passionate about her

work.

In his speech, Morgan alluded to the idea that one can only

really have influence if they’re doing what they love. Was she going

to be the change she wished to see in the world at the accounting

job? A week later, Sarah declined the job.

Sarah, now a senior at Appalachian, currently serves as

AIESEC’s East Africa program director. She matches students with

internships in Rwanda, Uganda, Tanzania and Kenya. Although still

unsure of her plans after graduation, she is considering accepting a

job offer with the Rwandan government. The position would allow

her to develop entrepreneurial opportunities in the international

private sector. She would be helping Africans help themselves by

giving them the knowledge and opportunity to develop

strategically-sound business plans, while helping them analyze the

risk associated with the endeavor.

Sarah will be pursuing jobs that work to alleviate poverty

through enterprise and entrepreneurial development. One thing is

certain, she will be the change she wants to see in the world.

HIGH COUNTRY GLOBAL OPPORTUNITIES CONFERENCE

The High Country Global Op-portunity Conference, coordinated by AIESEC, is now in its second year at Appalachian. It is sched-uled for Friday, October 9, 2009.

This conference gives students ideas about where they can go and how they can fund their inter-national experiences. Registration is open for any student, regional business owner or community member interested in learning more about global opportunities in our rapidly changing world. Ex-perts in global business will focus on our changing economy and emerging opportunities through-out the world. Panelists will dis-cuss their international endeavors, successes and challenges, and give advice based on their expertise. The conference provides ideas, knowledge and resources that will encourage Appalachian students and the regional business commu-nity to seek global opportunities and help them succeed in an in-creasingly global world.

You can find more information at www.2009goc.com

WELCOME NEW FACESSeveral new faculty members have recently joined Walker

College of Business with very diverse areas of educational experience and expertise. Below are eight faces of tenure-track faculty new to the halls of Raley.


Focus onFacultyDr. Betty S. Coffey, a professor of

strategic management, has been named chair of the Department of Management and Dr. John Whitehead, a professor of economics, has been named chair of the Department of Economics.

Coffey joined the Walker College of Business in 1992 as an assistant professor. She was promoted to associ-ate professor in 1998 and professor in 2006. In 2004, she was a Fulbright Scholar to the People’s Republic of

China. She received the Walker College Award for Excellence in Teaching in 1999, and she was awarded the Distinguished Graduate Faculty Award from Appalachian in 2008.

Coffey earned a Ph.D. in strategic management from the University of Tennessee, a master of health administration degree from Xavier University, a master’s degree in counseling from the

University of Alabama and a bachelor’s degree in elementary education from Berea College.

Whitehead joined Appalachian as an associate professor in 2004 after teaching stints at UNC Wilmington and East Carolina University. He was pro-moted to professor in 2006. He is an associate editor of the journal Marine Resource Economics and a member of the editorial council for the Journal of Environmental Economics and Manage-

ment. In 2007, he received the Walker College Award for Excel-lence in Research.

Whitehead’s research focuses on the valuation of environmen-tal and natural resources. He was part of a statewide study on the impact of climate change on the state’s coastal areas and has worked with the South Atlantic Fishery Management Council on studies re-latedtothevalueofmarinerecreationalfishing.Whiteheadalsohasresearched the value of sports stadiums to local and state govern-ments that often subsidize their construction.

Whitehead has a Ph.D. and master of arts degrees in economics from the University of Kentucky and a bachelor’s degree in econom-icsandmanagementfromCentreCollegeinKentucky.■

John Whitehead, ChairEconomics

Betty Coffey, ChairManagement

NEW CHAIRS ANNOUNCED

Pia Albinsson, MKT

Scott Hayward, MGT

Sandra Vannoy, CIS

Alanah Davis Mitchell, CIS

Dwayne McSwain, ACC

Heather Dixon-Fowler, MGT

Ken Corley, CIS

Tracy Reed, ACC


Businesses should prepare for a rather drastic change in accounting principles; changes that may inspire debate come audit time, according to accounting professors Ronald Marden and Kennard Brackney in the June 2009 edition of The CPA Journal.

In an article entitled “Audit Risk and IFRS: Does Increased Flexibility Increase Audit Risk,” the two say “Recent develop-ments suggest the United States may be quickly moving toward adopting Inter-national Financial Reporting Standards (IFRS).” And that poses some choices for businesses.

According to the authors, IFRS is “moreflexible”thanthe“principles-based”standards of U.S. Generally Accepted Ac-counting Principles (GAAP). This could lead to a difference of opinion between au-ditorsandmanagementregardingfinancialreporting. Plus, it means more work.

Moving to IFRS will not only af-fect companies’ information systems and financialreportingprocesses,butalsotheircontractual and compensation arrangements and even their training (particularly for boards of directors and audit committees). IFRS certainly will change the current dy-namic between auditors and preparers in the United States. Given that IFRS is less pre-scriptive than U.S. GAAP, companies will needtoproducemoredetailedandspecificdisclosures to help explain the presentations

and judgments they have made, and auditors may no longer have a detailed set of rules for measuring conformity with IFRA (e.g., the absence of “bright-line” numbers for identifying a capital lease).

Additionally, U.S. GAAP generally includes not only accounting principals and practices, but also the “methods” of apply-ing them (AU 410, Adherence to Generally Accepted Accounting Principles) and IFRS is no different. Consequently, if the rules forestablishingconformitywithfinancialreporting are reduced or eliminated, it may becomeevenmoredifficultforauditorstochallenge management’s judgments on the methods used to apply the predominantly principles-based IFRS.

The article is available in full online at www.cpajournal.com. The authors point outthespecific“risksofmaterialmisstate-ments”attheassertionlevel,andreflectonthe cultural differences between the U.S. and other countries that may pose unique challenges.

They conclude that, in relation to recent financialfiascoessuchasEnron,this“shifttoward a more principles-based approach has the potential to actually increase the likelihood of allowing manipulations to go undetected longer, allowing managers to shape the standards to suit their desires, resultinginevenmorefuturefinancialscandals.”■

You never know what you’re going to findatathriftstore:somevintaget-shirts,a nice set of dinner plates, maybe even a social security number and private bank information - and all at a low, low price.

Thelatterfindsarenotuncommonaccording to recent report by three Walker College researchers. An issue of the Jour-nal of Information Privacy and Security includes a research report by Drs. Dawn Medlin and Joseph Cazier, along with CIS graduate Robert Weaver, centered on the easeoffindingtreasureinanother’strash.The paper is entitled “Consumer’s PCs: A study of Hard Drive Forensics, Data Recov-ery and Exploitation.”

The team scoured second-hand markets for computer hard drives on sale. They found 58. They then attempted to access the drives and recover any information they could - they found plenty. More than 50,000 fileswererecovered,onaverage,fromeachdrive.Somehadmorethan300,000filesvisible.Withregardtospecificinformation,more than half the drives had a full name on file,20%hadaddressesandphonenumbers,and8%hadSocialSecuritynumbers.

One hard drive contained the user’s calendar and an extensive address book with the names, positions, address and personal (cell) phone numbers of several high-rank-ing government employees. The user had a fileconsistingoftheirlastwillandtesta-ment and other personal documents which had been saved and later sent to the Recycle Bin, all of which were recoverable with-out using special software. Another hard drive contained information related to tax returns including individual client’s names, addresses, phone numbers, social secuirty numbers and date of birth, almost every-thing one would need to assume another person’s identity.

The report includes information on how best to render a hard drive empty of all data, and promised additional research in the future using a larger sample size. View it on-line:http://jips.cob.tamucc.edu/Vol4-3.pdf.■

Risks with New Accounting Standards

The Dangers of Disposing of Computers

Ken Brackney Ron Marden

Joseph Cazier Dawn Medlin

FACULTY RESEARCH

Excellence AwardedWalker College Excellence Awards

Four Walker faculty members were recently named recipients of the College’s 2009 Excellence Awards. Pictured from left, Leigh Dunston (FIN) was recognized for his contributions as a non-tenure track faculty member, Ken Brackney (ACC) was honored for his teaching, Jim West-erman (MGT) was recognized for his research and Dinesh Dave (CIS) was honored for his service contributions. A contribution from Business Advisory Council emeritus member G.A. Sywassink, CEO of Standard Holding Corporation in Charlotte, provides a monetary gift to the re-cipients. The College’s excellence awards are presented annually. ■

Board of Governors AwardRichard Pouder, associate professor

of management, received one of Appala-chian’s 2009 Board of Governors Awards for Excellence in Teaching. Pouder has taught in the Walker College since 2000. He teaches Strategic Management and Social Responsibility to seniors in the college.

“Teaching the capstone course for senior business majors is a highly rewarding experience. It enables me to apply my real world business experi-

ence and academic research in ways that help prepare students for their imminent careers as business practitioners. It also challenges me to keep current in knowing and conveying to my students new interpretations of an ever-changing competitive and global business environment. Moreover, a course design that emphasizes working closely with students enables me to build mentoring relationships that continue well past their graduation,” said Pouder.

The University of North Carolina Board of Governors Awards for Excellence in Teaching were created in 1994 to encourage, identify, recognize, reward and support excellent teaching within the University. The Board of Governors also funds six additional teach-ingawardswhicharepresentedbytheUniversity.■


Focus onFaculty

An estimated 160 million children aged 5-14, or about one in six children worldwide, are engaged in child labor. And while most of us probably conjure up images of children working in agricultural settings or factories when the term child labor is mentioned, its scope extends to such unseemly settings as the sex industry or warfare.

Hugh D. Hindman, professor of management, is editor of the re-cently published book “The World of Child Labor, An Historical and Regional Survey.” Published by M.E. Sharpe Inc., the 1,032-page work is a reference encyclopedia for libraries, students, scholars and others interested in the topic The work features 222 essays written by 178 different scholars, researchers or activists from around the world.

Hindman’s essays in the book include “Child Labor in American Textiles,” “Evolution of US Child Labor Law,” “Child Labor in China: An Overview” and “Worst Forms of Child Labor,” which Hindman says includes children in bond-age, child soldiers and the commercial sexual exploitation of children. “I had never taken an in depth look at those forms of child labor. That was an eye opener,” he said.

While the International Labor Organization claims that the instance of child labor is declining worldwide, Hindman is more cautious. “To say we are turning the corner is maybe a little optimistic at this point,” he said. “While you can see real tangible measurable progress in a handful of countries that used tohaveverydifficultchildlaborproblems,includingBrazil,Mexico, Turkey and Vietnam and a handful of others, in many other parts of the world there has been little progress.”

Child labor isn’t as prevalent or visible in the United States as it once was, Hindman said, but it remains a problem. “We don’t see, except in rare circumstances, child labor in U.S. manu-facturing or mining sectors. We do have some persistent prob-lems in agriculture where a child can work unlimited hours at the age of 12,” he said. “We have 400,000 or more young, mostly Latino kids working often in migrant agriculture. So that’s a per-sistentproblem.Also,wehavepersistentproblemoftraffickingof children, some for commercial sexual exploitation or for work indomesticservice.SofortheU.S.,it’samixedbag.”■

Hugh Hindman, Professor Management

Rich Pouder, Associate Professor Management

APPALACHIAN PROFESSOR HELPS DOCUMENT CHILD LABOR

BRAZILIAN CONGRESSMAN VISITS CAMPUSCongressman Francisco Caminha, (pictured at bottom, right) from Ceara, Brazil,receivedastateflagfromN.C.Lt. Gov. Walton Dalton during Camin-ha’s recent visit to the N.C. Legislature in Raleigh. Caminha represents the metropolitan area of Fortaleza. He is the second vice president of the state legislature, a lawyer, and is involved in developing Ceará’s “University of the Parliament,” which helps train future public servants.

Caminha was among a delegation of business leaders who visited Appala-chian to participate in an international initiatives program co-sponsored by the Walker College of Business and the U.S. Commercial Service.

The event was designed to promote international business and give students, faculty and community members the opportunity to learn about trading op-portunities with Brazil.

The Brazilian discussion is part of a series of global opportunity sessions sponsored by the Walker College and the USCS. Each workshop highlights country-specificopportunitydiscus-sions.■


AroundRaleyRob Hudspeth has been named director of development

for the Walker College of Business. Hudspeth began his new role on July 13 and replaces previous director Geoff Graham, whohasmovedtoAppalachian’sadvancementofficeasassis-tant vice chancellor for gift planning and real estate manage-ment. Hudspeth will work closely with Gerry Smith, who remains on the Walker College of Business staff part-time as advancement specialist. Hudspeth brings applicable experi-ence from successful careers in sales and marketing from the technologyandpharmaceuticalindustriesandhassignificantinternational sales experience. He is a graduate of North Carolina State University. Rob can be reached by telephone, (828) 262-6231, or by e-mail, [email protected].

DIRECTOR OF DEVELOPMENT APPOINTED

Rob Hudspeth,Director of Development

Walker College Ranked Nationally Among Top UniversitiesThe Princeton Review’s Best Business SchoolsThe Walker College of Business is one of 10 business schools included in the “Best Campus Environment” category in the Princeton Review’s Best 296 Business Schools: 2009 Edition. The inclusion is based on student assessment of the location of the school who praised its mountain location as well easy access to nearby cities for more urban ac-tivities. “Most people pursue their own personal hobbies during their spare time,” wrote one student. “Being near the Blue Ridge Parkway and several ski slopes, a lot of people are involved in outdoor activities.” As one student put it, “If you like nature, long win-ters, and small, close-knit groups of friends, then you should look into ASU.” The maga-zine does not rank the schools in the book on a single hierarchical list from 1 to 296, or name one business school best overall. Instead, the book has 11 ranking lists of the top 10 business schools in various categories, such as best facilities, professors or classroom experience, and schools with the greatest opportunity for minorities and women. On average, 65 students at each business school were surveyed for the rankings lists appear-ing in the new editions of the books. The 80-question survey asked students about their school’s academics, student body and campus life, themselves, and their career plans. U.S. News & World Report’s 2009 America’s Best Colleges Guide

These accolades come alongside Appalachian’s rising to the No. 9 spot in the “Best Universities-Master’s in the South” category in U.S. News & World Report’s 2009 America’s Best Colleges Guide. Appalachian also ranked fourth in the magazine’s South’s top public master-degree granting universities category, also in a tie with the College of Charleston. Appalachian has placed among the top 15 southernuniversitiessincetherankingsfirstappearedin1986.■ Brazilian Congressman Francisco Caminha,

right, receives a state flag at the NC Legislature


Kati Knowland of NC Magazine recently profiled the Martha Guy Summer Institute. Here’s what she had to say about this seven year-old program: For three weeks each summer, Walker Col-lege of Business at Appalachian State University opens its doors to some of the state’s best and brightest high school juniors and gives them an introduction into the world of business. Each year since the program started in 2004, the Martha Guy Summer Institute for Future Business Leaders has welcomed 24 students to the campus of Appalachian State for two weeks of business and leadership classes and hands-on learning, followed by a one-week trip to Washington, DC, and New York to see business concepts in action.

Deanne Smith, director of the program, noted that the institute helps expose some of the state’s brightest students who have an interest in studying business to the campus, but it also helps those students decide whether business is the right educational path for them.“Theprogramhelpsparticipantsunderstandiftheydefinitelywant to pursue business or if they want to major in something else and pursue a minor in business,” said Smith. “Business is so varied in terms of areas of study and job opportunities that it really helps them zero in on what they’re interested in.” Smith added that the program also helps students decide what they don’t want to major in, which can be just as helpful to a high school junior.

As a part of the two-week on-campus portion of the program, participants work in groups of four to take an idea for a business and develop a business plan, then present that plan to a panel of judges. The top proposal at this year’s institute, which concluded Aug. 1, was for a Web site called Exchange.com, an online marketplace in which buyers and sellers could exchange items, rather than simply purchasing them. Other ideas included a company that would help other businesses become more environmentally friendly, a company that would provide marketing information about Generation Y, an organization that would help schools raise private funds, a drive-through convenience store and a company that would create new products from leftover wood from construction sites.

Smith noted that there are a variety of outcomes of the program

that affect both Appalachian and companies across the state. “For Appalachian, it shows that we are very committed to helping stu-dents, even those who aren’t even our students yet,” she said. “I also think it shows that we have a commitment to supporting economic development — and not just in our region. These students are ex-posed to a lot of topics that they can take and use in their daily lives, so I feel like we’re providing a lot of citizenship and leadership development opportunities as well, not just business education.”

The program also gives a variety of industries the opportunity to expose students to the importance and value of what they do. For example, this year’s institute included a focus on the tourism industry, and students learned about the size of the industry in North Carolina and its importance to the economy. “We give them so much in the way of information and knowledge and just experience that I think that they’re just blown away by what’s been given by them,” said Smith, “and it’s all been made possible by Ms. Guy.”

Martha Guy, who provided funding for the program, has an in-teresting story of her own. After graduating from UNC-Chapel Hill at the age of 19, she went on to pursue a master’s degree in chemis-try.ThenherbrotherslefttofightinWorldWarIIandshereturnedhome to help run her family’s bank in Avery County. She eventually warmed to the banking industry and went on to lead Avery County Bank for the next sixty years. Guy’s endowment means that, while the three-week program costs about $2,750 per person, students pay only $700, including housing, meals, instruction and all travel ex-penses. “Ms. Guy has been a good friend to the College of Business over the years,” noted Smith.

As for the lessons the students learn while at the summer insti-tute, Smith said they will last a lifetime. “I truly believe that they will remember a lot of these lessons for many, many years to come. Even if there was a guest speaker that perhaps they might not recall today, at this moment, probably four years down they road they’re going to think, ‘Oh yeah, I remember that person at the Martha Guy Summer Institute said that to me.’ So I think that the light bulbs will continuetobeswitchedonforalong,long,longtime.”■

Martha Guy Summer Institute Celebrated

Martha Guy, middle in red, with the 2009 Martha Guy Summer Institute Class and Appalachian Administrators


CEOS OF BB&T, CORNING SPEAK AT UPCOMING CEO LECTURESKellyKing,PresidentandChiefExecutiveOfficerofBB&TCorpora-tion, is the Fall 2009 Harlan E. Boyles Distinguished CEO Lecturer. The event, held on Monday, October 5, also brings John Silvia, Chief Economist for Wells Fargo Securities, to campus as the Executive Luncheon Speaker.

The Spring lecture date is set for March 25, 2010. Mark your calen-darnowtohearClarkKinlin,PresidentandChiefExecutiveOfficerofCorning Cable Systems, Inc., deliver the spring lecture.

Learn more about the series at www.business.appstate.edu/ceo. ■Kelly King, CEO, BB&T Clark Kinlin, CEO, Corning

Dedicated Employees Mean Bright Future for Krispy KremeKrispy Kreme Doughnuts Inc. focuses

on more than just making tasty doughnuts. The company values relationships – those with its customers and its employees. That’s why CEO and President James H. Morgan believes the company will overcome its financialchallengesofthepastfiveyears.

Morgan spoke to business students and others during the Harlan E. Boyles Dis-tinguished CEO Lecture Series March 26 hosted by Appalachian State University’s Walker College of Business. The series is named for the late Boyles who was state treasurer for 24 years.

Morgan left retirement from Wacho-via Securities in early 2008 to head Krispy Kreme. “There were a lot of reasons I said yes, but the greatest was that I knew the people at Krispy Kreme, I knew they had a passion for the brand, I knew they had a passion for the product and I had a passion for them,” he said. “And I believed that they were the people who could turn the com-pany around.”

Morgan said Krispy Kreme was a com-plicated company that made an uncompli-cated product.

Despite its 72 years in business, many think the company’s future is short lived, basedonpastfinancialproblems.

Morgan disagrees. “We at Krispy Kreme believe that we are guardians of something very special,” he said. The company is in 38 states and will have loca-tions in 20 foreign companies by year’s end,

including China, Turkey and Malaysia.“Some mistakes were made years

ago,” Morgan said. The company has faced a shareholder’s lawsuit and investigations by the Securities and Exchange Commis-sion and U.S. Department of Justice, among other legal actions.

“The people who are paying the price for that right now are not the people who had anything to do with those decisions,” Morgan said. “The employees of Krispy Kreme have been beaten down and berated inthepressforfiveyearsnow.It’sprettyhard to come to work every day, excited about what you are doing when you have that hanging over you.”

Morgan said that adversity will strengthen the company. “I’m not sure you will ever be as good as what you are trying to do in life if you haven’t been humbled at least once or twice,” he said. “You learn to understand what you can’t control and you understand what is truly important.”

Morgan said Krispy Kreme was not just in the business of selling more doughnuts. “Our mission is to use this magic product called Krispy Kreme to make a difference in this world where we live. And I’m telling you, we’re going to do it,” Morgan said.

Morgan told of employees at one Krispy Kreme location who made a special order of heart-shaped doughnuts to help a young boy celebrate his heart transplant anniversary with his classmates. “I want you to understand that’s what Krispy Kreme is,”

Morgan said. “It’s not bricks and mortar, it’s not a company that’s not going to be here tomorrow. It’s a company of incredible people.”

Morgan encouraged students to focus on making a difference in the lives of others. “If you do that, I believe that the country might never again face the moral, ethical, business and political morass that has been primary contributors to the current econom-icturmoil,”hesaid.■

Morgan speaks to an MBA class (top) and advises students during the reception portion of the Spring CEO lecture (bottom).

ALUMNUS’ BUSINESS AMONG DC’S BEST

Richard Stroupe, a 1998 graduate of the Computer Informa-tion Systems (CIS) Department, is Sr. Vice President of Operations of NCI Information Sys-tems, Inc. Stroupe was President and CEO of TRS Con-

sulting Company until August, at which time he merged the company with NCI.

This summer, TRS was named by Washington Business Journal as one of the best places to work in the greater Washington, DC area. The Journal ranked TRS Consulting No. 1 among medium-sized companies.

TRS is located in Reston, Virginia, and employees 54 people. The Business Journal described it as a federal govern-ment focused information technology services and training company and listed extraperksandbenefitsforemployeessuchason-sitefitnesscenterorinstruc-tion, commuter/parking discounts or reimbursements.

The Business Journal recognized 50 companies in four categories as Best Places to Work. The rankings were based on nominations and surveys.

Stroupe, who founded TRS is 2001, is an advisory board member for the Walker College’s Center of Entrepreneur-shipanditsCISdepartment.■


Alumni andFriendsAt least one

national business columnist thinks that Citizens South Bank President and CEO Kim Price could teach the big banks a few lessons about creative use of the U.S. government’s federal stimulus funds.

Price, a 1977 graduate of Walker College, caught the attention of the Washington Post and other newspapers in early 2009 for his plans to put funds from the Troubled Assets Relief Program to work in the six counties that Citizens South serves.

Price told the Washington Post that his bank will use $20.5 million in TARP funds tofinancelow-interestmortgagesforthepurchase of new homes that are constructed bybuilderswhofinancedtheconstructionthrough Citizens South. To further ease home ownership, Citizens South will waive closingcostsforqualifiedbuyers,andofferloansstartingat3.5percentforthefirsttwoyears of a 30-year mortgage with that rate rising to only 5.5 percent after two years.

Price began his banking career right after graduating from Appalachian. He started his career with First Citizens Bank and also worked with 1st Home Federal, the Federal Home Loan Bank of Atlanta and First National Bank of Shelby before joining Citizens South in 1997. During the course of his career, Price has witnessed the ups and downs of the economy, but he says this reces-sionisthemostdifficulthehaseverseen.

A newspaper article about incentives

that potential homeowners said would persuade them to purchase a home was the catalyst for Price’s plans for the TARP funding.

“The potential home buyers said lower interest rates and no closing costs would entice them to buy a home,” Price said. “I said, I think we can create that. It would help builders, developers realtors, construc-tion workers and all those associated with home building.”

Word of the plan generated interest from Charlotte-area and national news net-works, and hundreds of e-mails to the bank. The Washington Post blog had more than 30 pages of notes from across the country. “I can’t even talk about the response it’s so flattering.It’sveryhumblingtoberecog-nized for simply trying to do what should be normally expected,” he said. While homebuilders are excited about the plan, Price says the proof of its success will rely on consumers’ willingness to purchase new homes.

Harry Davis, the N.C. Bankers’ Associ-ation Professor in the college, agrees. “The story out there is that banks are not lending the money that they are getting through the TARP program, but many are,” he said. “Oneoftheproblemsisfindingpeoplewill-ing to apply for loans. Small businesses are reluctant to borrow money to expand in a recession and consumers are cautious about applying for home or auto loans.”

“The builders and media love this plan, but is it enough to motivate the consumer?,” Price said. “Is it enough to overcome what-ever fears they might have about prices, jobs, and the economy at large? This is a goodlitmustest.”■

Kim Price, ‘77, CEO of Citzens South Bank

Richard Stroupe, ‘98, CEO of TRS Consulting

Washington Post Takes Cues from Walker College Alumnus


In order to continue to develop the

Walker College of Business into a visionary

college of business, we encourage support

for the following initiatives. We offer many

different opportunities to positively impact

a program or enrich a student or faculty

member.Pleaseconsiderthesefinancial

gift opportunities – including scholarships,

professorships, and naming rights – as each

can make an immediate impact.

The Walker College of Business

Dean’s Club was created in 2001 as a

means for the Dean to provide funding

throughout Walker College. The fund gives

thecollegegreaterflexibilityinmeeting

the changing needs of students as well as

the essential and visionary needs of the

college. As a member of this premiere giv-

ing society, you will support scholarships,

classroom enhancements, new programs

and student and faculty travel, among other

things.

The Center for Entrepreneurship:

Students at the Walker College of Business

and across the university display unique

visions and gifts in creating new businesses.

Entrepreneur programs provide innovative

and informative means for them to develop

their ideas as well as transform their visions

into successful business realities.

International Programs: These funds

are used to provide international travel op-

portunities for business students as well as

to bring outstanding international students

to Appalachian State University to be chal-

lenged and inspired by the educational expe-

riences at the Walker College of Business.

The Martha Guy Summer Institute

provides high school students from North

Carolina the opportunity to be challenged

and inspired while experiencing the unique

academic experiences that Appalachian

State University has to offer.

Additional faculty resources remain

critical to attracting and retaining the high-

est quality teachers. Professorships, faculty

grants and other sources of support help

insure continued excellence in teaching at

the Walker College of Business.

Additional funding for diversity

programs will help us gain more national

and international experiences and knowl-

edge from less represented groups that can

enhance our entire student body.

Endowing a scholarship in memory

or in honor of a friend or family member is

a very special way to create a legacy while

enabling future generations of Appalachian

students to receive a high-quality education.

“Your generous support will not only provide financial assistance for in-novative students, it will give them the distinctive opportunities, instruction and programs in which their talents can grow.”– Dr. Kenneth E. Peacock, Chancellor of Appalachian State University

HOW YOU CAN MAKE A DIFFERENCE

TO INQUIRE ABOUT HOW TO GIVE:Randy EdwardsDean(828) [email protected]

Rob HudspethDirector of Development(828) [email protected]

Gerry SmithAdvancement Specialist(828) [email protected]

The Walker College of Business, The BilTmore Company and The Boone area ChamBer of CommerCe

present

The appalachian family Business forumJoin us this fall as CeOs of successful, nC-based, family-owned businesses discuss hot topics for family-

owned businesses, including Working with Family and Managing Conflict, Succession Planning, Family versus non-family employees, and Lessons from Multi-Generational Companies. panelists will include Bill Cecil, Jr., CeO of the Biltmore Company; Joseph Miller, COO of Cheap Joe’s Art stuff; Crae Morton,

president of Grandfather Mountain; and Chris robbins, president of tweetsie railroad.

space is limited, so register today: www.business.appstate.edu/familyforum

Check-in begins at 9:30am. the registration fee is $25.00 and covers light breakfast, breaks and lunch. For more information, contact sabrina Cheves, 828-262-8548 or [email protected].

Bill Cecil, Jr., Ceo The Biltmore Co.

Joseph miller, Coo Cheap Joe’s art stuff

Crae morton, presidentgrandfather mountain

Chris robbins, presidentTweetsie railroad

Tuesday, october 2010am-3pm

The Broyhill inn & Conference Center


Alumniand FriendsNEW SCHOLARSHIPS ESTABLISHED

SCHOLARSHIP RECEPTION

Allen Family Scholarship for International TravelBrothers Clayton, Chester and Sam Allen know the value of study-ing abroad. Each traveled overseas while students at Appalachian. The brothers want other Appalachian students to have the same op-portunities they experienced while on a study abroad program. They have helped establish the Allen Family Study Abroad Scholarship Fundthatwillprovideawardsfor10studentseachofthenextfiveyears to Appalachian students enrolled in study abroad programs in the Walker College of Business. Preference will be given to students participatingininternationalentrepreneurshipcourses.Thefirstscholarships will be awarded this fall.

“Traveling to Spain and Scandinavia while I was in school gave me invaluable perspective,” said Chester Allen, a 2005 graduate of Appalachian’s BSBA program in management. Allen is a real estate advisor for Grubb & Ellis|Thomas Linderman Graham in Raleigh. “I am so excited to be in a position to help other Appalachian stu-dents experience what I did,” he said. Clayton Allen, a 2003 BSBA management graduate, works in sales for Madix Store Fixtures in Richmond, Va. Sam Allen is a senior marketing major at Appala-chian and plans to graduate in December.

The Walker College recognizes the importance of an interna-tional study experience and encourages students to participate in study abroad. Last year, more than 150 Walker College of Business students participated in an international study experience.In 2008 rankings by The Chronicle of Higher Education and the Institute of International Education, Appalachian was in the top 10 of master’s degree granting institutions in terms of the number of students studyingabroad.■ Karen Lea Byrd Memorial Scholarships

Two scholarships have been established in Appalachian State University’s Walker College of Business in memory of alumna Karen Lea Byrd who died in unexpectedly in February 2009. Byrd was a 2004 graduate in accounting and computer information systems. She earned a master of science degree in accounting in 2005. The Deloitte/Karen Byrd Memorial Scholarship was estab-lished by her fellow employees at Deloitte & Touche. Byrd was an inchargeauditorwithDeloitte,workingoutoftheCharlotteofficeat the time of her death. The scholarship will be awarded annually to an accounting major at Appalachian. The Karen Byrd Memorial Scholarship for Business was created with gifts made by Byrd’s friends and family. The scholarship will be awarded to students majoring in business at Appalachian. For more information or to make a contribution to either or both of these scholarships, contact the Walker College of Business at 828-262-2057. Contributions can bemadeonlineatwww.givenow.appstate.edu/business.■

Thanks to generous donors, more than $275,000 was awarded to 189 students in the Walker College of Business for the 2008-2009 year. Each Fall, scholarship donors have the opportunity to meet the recipients of their generosity at a special reception. Below are just a fewofthephotosfromthe2008event.■

MARK YOUR CALENDAR NOW FOR THE 11TH ANNUAL

LEWIS L. MACK ALUMNI DAYFEBRUARY 8, 2010

Appalachian alumni coming together with business students.If you are interested in sharing your professional experience with the business leaders of tomorrow -

the students in the Walker College of Business, then consider participating in Alumni Day. All classes on this day are taught by Walker College alumni like you.

For information, contact Heidi Ragan at [email protected] or 828-262-7579.


NEW GRADUATES - 2009 COMMENCEMENT

2009 APPALACHIAN MOUNTAINEER FOOTBALL

WALKER COLLEGE OF BUSINESS DAYOctober 24, 2009 - Kidd Brewer Stadium

Appalachian vs. Georgia Southern

EXCLUSIVE PACKAGE FOR WALKER COLLEGE OF BUSINESS

EMPLOYEES, ALUMNI AND THEIR FAMILIES

The excitement of the Mountaineer Football team’s national title campaign continues at home with this showdown between heated rival Georgia Southern.

Join us as we celebrate Walker College of Business Day in front of a packed house on Black Saturday, October 24th, with kickoff slated for 3:00 PM.

Walker College of Business employees, alumni, and their families may purchase tickets at a special rate of $22 per ticket for this game (special reserved section).

To reserve your discounted tickets, simply fill out this form and send with payment to the: ASU Athletics Ticket OfficeHolmes Convocation CenterBoone, NC 28608

We look forward to seeing you as we celebrate business while cheering the Mountaineers on to victory over the Eagles.

Special halftime recognition for the

Walker College of Business

NAME: __________________________________

ADDRESS: _______________________________

CITY, STATE ZIP: __________________________

EMAIL: __________________________________

DAYTIME PHONE: _________________________

GRADUATION YEAR: ______________________

DEGREE EARNED: ________________________

Number of Tickets:

x $22.00 each:

Processing Fee:

Total Payment Enclosed:

_____________________

_____________________

+ $5.00

$____________________

VISA / MASTERCARD

CREDIT CARD #: _____________________________

EXPIRATION DATE: ___________________________

Make checks payable to: ASU Athletics Ticket Office

To order tickets by phone, call (828) 262-2079

ask for the special Walker College of Business Day Seating

Business Leaders Magazine 2009

Documents

Transcript of Business Leaders Magazine 2009