Loyola Executive

COLLEGE OF BUSINESS MAGAZINE LOYOLA UNIVERSITY NEW ORLEANS FALL 2009

USING FLIP-FLOPS FOR SOCIAL CHANGE • TIPS FOR A SMALL BUSINESS

PROFESSOR’S WEST TEXAS STATE OF MIND • ALUMNUS HELPS OTHERS NATIONALLY AND INTERNATIONALLY

The World IsOur Classroom

Students Go GlobalIn Europe and China

ExecFall09Cover:SummerCover 9/14/09 10:37 AM Page 3

LOYOLA UNIVERSITYNEW ORLEANS

Loyola University New Orleans PresidentThe Rev. Kevin Wm. Wildes, S.J.

College of Business DeanWilliam Locander

Coordinator of Internshipsand COB MarketingKathy Barnett

Associate DeanDavid Luechauer

Associate Dean Educational SystemsAngie Hoffer

Area Chairperson of Accounting,Economics, and Finance

Lee Yao

Area Chairperson of Management,Marketing, and International Business

Kendra Reed

Major Gifts Officer College of BusinessTraci Wolff

Loyola Executive EditorPublications Editor

Ray Willhoft ’00

Loyola Executive DesignerCraig Bloodworth

PhotographersHarold Baquet

Tracie Morris SchaefferWeddle Photography

Contributors

Kathy BarnettCatherine I. Koppel

William LocanderCarmen Sunda

Europe Photos

Courtesy of Chris Screen

China Photos

Courtesy of Brian Danos

ExecFall09_2-5:128_loyolaSpring_2-4 9/14/09 10:44 AM

COLLEGE OF BUSINESS MAGAZINELOYOLA UNIVERSITY NEW ORLEANSFALL 2009 • VOL.2 • NO.2 • WWW.BUSINESS.LOYNO.EDU

COVER FOCUS6 The World is Our Classroom

FEATURES14 The Flip-Flop Guy

18 Five Ideas for Small BusinessSurvival in ToughEconomic Times

22 The Eyes of West Texasare Upon You

26 From Lafayette to Loyolato Belize—A True Global Citizen

Loyola Executive is published bi-annually forLoyola University New Orleans College of Business

alumni and friends.Please address correspondence to:

Loyola ExecutiveOffice of the Dean

6363 St. Charles Avenue, Box 15New Orleans, LA 70118

News and photographs for possible use in futureissues may be submitted by readers.

POSTMASTER: Send address changes to:Loyola Executive

Loyola University New Orleans7214 St. Charles Avenue, Box 909

New Orleans, LA 70118

Loyola University New Orleans has fully supportedand fostered in its educational programs,

admissions, employment practices, and in theactivities it operates the policy of not discriminatingon the basis of age, color, disability, national origin,race, religion, sex/gender, or sexual orientation. Thispolicy is in compliance with all applicable federal

regulations and guidelines.


In some way, the cover tells it all. The College of Business is, through its students’experiences, enhancing both our undergraduate and graduate education. The cover showsour students in Vienna this summer experiencing Austria during their studies abroad.Likewise, other Loyola students visited China and, I am sure, had equally valuableinternational exposure to another culture. It is my hope that in the not too distant future,all of our students (undergraduate and graduate) will leave Loyola with some form ofinternational experience.

This issue is full of interesting stories. Don’t miss the entrepreneurial journey of KyleBerner, a.k.a. “the flip-flop guy.” What makes Kyle a credit to our college is his concern forthe social issues in Thailand by returning a percentage of sales to the country where his highquality products are produced.

Likewise, Greg Fontenot, a College of Business student, was honored by the university forall that he has accomplished during his years at Loyola. All of us in the college admire andapplaud Greg’s many accomplishments and wish him the best as he moves on to pursue morevolunteer work in the Jesuit tradition. By the way, as dean, I am particularly proud that ofthe six Loyola students going on to Teach for America, five are College of Business graduates.They are also some of our best and brightest.

One of the “hidden” assets of the College of Business is our affiliation with the Louisiana SmallBusiness Development Center. Loyola has played a dis-tinguished role in working with the LSBDC and indoing so has helped entrepreneurs and small businessowners flourish. Carmen Sunda and her staff work tire-lessly to maximize the impact of the agency.

If you have not met Dr. Jerry Goolsby, you will want toafter reading his profile and about his West Texas roots.

This May, a special group of students, known asthe “Katrina Class,” graduated. We thank them fortheir commitment to Loyola and the New Orleansarea. Take a look at some of their photos from theCoB Senior Reception and Awards Ceremony.

Lastly, I want to thank the faculty, staff, and stu-dents for making my first year as dean a productiveone. Stay tuned . . . more to come!!

Sincerely,

William B. Locander, Ph.D.College of Business Dean

Fall 2009 www.business.loyno.edu 5

From the Dean


6 Loyola Executive

The World IsOur Classroom

ExecFall09_6_13:128_loyolaSpring_5_9 9/14/09 10:46 AM


The value of higher education to college students is found not only in a class-room but in their willingness to look beyond their immediate worlds and open themselves upto new experiences and cultures. Along with semester-long study abroad programs offered byLoyola’s Center for International Education, the College of Business offers summer studyabroad programs to Europe and China. This past summer, students on the Europe trip foundthemselves in Prague, Budapest, and Vienna, while students studying in China visited thecities of Beijing, Xi’an, and Shanghai. What better way to learn about internationalmarketing, finance, or economics than to experience these things first hand? Dr. John Levendis, one of the faculty members for the Europe trip, has traveled to Europe

many times and commented that with every trip he comes back a slightly different person.“You discover new cultures, foods, political beliefs, economic systems, and ways of living. Thetrip is always exciting, and traveling with students lets me relive the excitement ofdiscovering a world different from the one back home.”

Students Go GlobalIn Europe

and China

The Loyola College of Business Approach


8 Loyola Executive

Twenty students traveled to Europethis past June seeing Czechoslovakia,Hungary, and Austria in just two weeks.The annual study abroad trip was part oftwo academic courses offered by theCollege of Business: The EconomicHistory of Europe taught by ProfessorJohn Levendis and Law forInternational Business taught byProfessor Chris Screen. Students hadthe opportunity to visit some of themost famous sites in Europe while

Destination:Europe

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learning about the development of the European economy and its laws through sitevisits to international businesses and organizations. Their two-week journey includedvisits to Budapest, Prague, and Vienna where students toured Parliament, St. Stephen’sCathedral, the Austrian Office of Pfizer Corporation, Staropramen Brewery, Czech TV,Hewlett Packard, and many others.

This was an eye-opening experience for many of the participants, and they werehappy to share their experiences with us. Brittany Voelker recounted her experiences.“The Terror House in Budapest was really something to see. It was interesting to expe-rience what Hungary went through when communism came to power. It affected thelives of every citizen so deeply. I found that the citizens of the post-communist nationsseemed so expressionless when it came to social situations. I wondered if that was anartifact from communism. From a business perspective, the most surprising thing Ilearned was how strict the advertising laws in Austria are. Very different from the U.S.I learned a lot about running corporations internationally, and even though I don’tplan to do that in my career, I can take what I learned and apply these concepts on asmaller scale.”

1. A visit to the SummerPalace in Vienna

2. Levendis and Screenchoose their weapons

3. CoB student Gabe Ibars ticklesthe ivories at the Bodendofer Piano Factory in Vienna

4. Waiting for the “Loyola Shuttle” in Prague

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10 Loyola Executive

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“Everything about Budapest intrigued me. I spent my birthday on a boaton the DanubeRiver, carried around currency that had the number 5000on it, climbed up to the Royal Castle to see the most breathtaking view ofthe city, and saw these amazing 12-year-old kids doing a tribal dance inHeroes’ Square. The whole city was just mesmerizing.”

–Alison Meyer, Business Student



“From a business perspective,the most surprising thing I learned washow strict the advertising laws in Austria are.Very different from the U.S.”

–Brittany Voelker, Business Student

1. Time for a break at the UN World Clock2. Finding a true global perspective at the United Nations Headquarters, Vienna3. Students try out modern seating in Vienna4. “What do you mean you don’t serve crawfish?” A sidewalk café in Budapest5. Ice Cream! The universal sign for happy students.

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Destination:China

12 Loyola Executive

A month after the European trip, a different group of students headed for China.Drs. Wing Fok and Lee Yao accompanied them and once again, in addition to a fabulousexperience, the students received academic credit for the trip through two courses:International Accounting and International Business Practices in China. Participantswere exposed to contemporary Chinese history, culture, and business practices in thefascinating cities of Beijing, Xi’an, and Shanghai. They visited the Great Wall, the oldand new Summer Palaces, and the Forbidden City in Beijing. In Shanghai, theyexplored the famous Water Town Shanghai History Museum, and in Xi’an, the BigMosque, the Terracotta Warriors, and the Big Goose Pagoda.

Brian Danos, a Loyola MBA student, had an interesting interpretation of what he expe-rienced. He said: “Western media, such as CNBC and The New York Times,depict China as a unified communist state bristling to dominatethis new century. However, when you visit theMiddle Kingdom you do not find one cohesiveChina, but many Chinas all uniquely blazing a pathbetween the appearance of socialism and street-levelhyper-capitalism.”

What better way to understand another culture than toexperience it? Travel to another country not only teachesstudents about things like a 55-percent tax rate in Hungary,

Global Lessons

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but also how similar people are in their needs and wants.When all is said and done, business abroad wants to serve customers andmake a profit, consumers want to be served valued products, people want to have lovelyrelationships at home, employees want meaningful work with fair pay, and everyone wantssome form of spirit in their lives. An important global lesson—people are not all that different.A lesson that will serve Loyola students for a lifetime!

1. Drs. Fok and Yao posing as tourists2. Visiting the city of Xian3. Yao and students “take their mark” at the Beijing Olympic site4. The Great Wall—be sure and pack your walking shoes5. In the heart of Tiananmen Square6. Wannabe Loyola Olympians at the Water Cube

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14 Loyola Executive

Kyle Berner ’03

ExecFall09_14_17:128_loyolaSpring_10_17 9/14/09 10:50 AM Page 2

The Flip-Flop Guy

When you first meet Kyle Berner ’03, co-owner ofthe flip-flop company Feelgoodz, it’s hard to figure outwhat you like best about him. Is it the fact that hethanks you twice for buying him a $3 cup of coffee? Oris it that he has taken time out from his busy schedule tomeet with you for an interview in the first place? It couldbe his passion for what he does. Maybe it’s that he tellsyou so many funny stories about his first year inbusiness. Then there’s the moment when he getschoked up talking about the people of Thailand andhis determination to give back to them. Whatever itis, it’s all rolled up into one young, successful,humble, flip-flop-wearing social entrepreneur. Berner, a 2003 graduate of the Loyola College of

Business, started his flip-flop company in 2008. It wasn’tpart of some grand vision he had carried around withhim for years. It just sort of evolved while he was

exploring life. Berner is the first one to tell you he hashad a very unorthodox career path (which is ironic

considering one of his jobs was at a university as acareer coach). At 28, he has been a recordproducer, worked for a large computer company,and managed a hot dog cart. It was the hot dogcart that led him to Thailand. There he is oneevening on the streets of Austin, Texas, hawkinghot dogs when a guy walks by and asks him if he

knows of a good Thai restaurant. He didn’t. But thetwo started up a conversation with the passerby tellingBerner all about his recent trip to Thailand. Berner wasintrigued to say the least. He sold his car, bought a one-way ticket, and spent a year immersing himself in theculture of a people and a country he soon grew to love. He ended up in the city of Phitanulok where he lived

and worked as an English teacher for a year. Beingamong the people of Thailand for 12 months, he grewto love their culture and their simple way of living. Heexperienced their willingness to give—of themselves,their time, their food, their homes—to this youngAmerican that had landed in their village. He was somoved by the Thai people who gave and gave whenthey themselves had so little that he knew he had to dosomething for them in return. But what? The thoughtstayed with him when he moved back home to NewOrleans. On a subsequent trip back to Thailand in 2008,he happened to buy a pair of flip-flops from a Thai streetvendor. To his amazement, they were the mostcomfortable flip-flops he had ever worn—and Bernerhad worn a lot of flip-flops in his time. Besides comfort,

Using the Power of CapitalismTo Create Positive Social Change

Fall 2009 www.loyno.edu 15


16 Loyola Executive

the flip-flops were made there in Thailand bya family-owned business and the product waseco-friendly. Soon Berner was looking up thecompany’s website and striking a deal to selltheir flip-flops in America. As Berner says:“You have to take advantage of opportunitiesyou’re interested in even if you don’t knowwhere they might lead you.”

He and his business partner, JoelNeland, started with a $25,000investment. With a recent foray intoWhole Foods Market, Feelgoodz has gonefrom selling 400 – 500 pair of flip-flops amonth to 5,000 pairs in six weeks. That’s awhole lot of flip-flops—if Feelgoodzsustains those numbers, that’s 60,000 pair ayear to be exact at an average price point of$19.99 a pair. Most business folks will tellyou that a 1,000-percent increase in salesover the course of your first year in businessis not a bad place to be. Feelgoodz will soonmove into the West Indies and SouthAmerican markets. Their website canhandle both retail and wholesale orders,and they are currently in 45 stores fromHawaii to Maine. Berner sees moreproducts down the road once the flip-flopsare established and there is some money inthe bank. Any future products have tomeet the Feelgoodz criteria: green, ethical,and comfortable.

It is not just about sales and profits. Mostimportant to Berner is the socialentrepreneurship element to this storythrough plans to give back. Beginning inDecember of this year, Feelgoodz will donatethree percent of its revenues back to thepeople of Thailand. This will happenthrough a partnership with a non-profitorganization called Ashoka, a self-describedglobal association of the world’s leadingsocial entrepreneurs. Berner says: “I’vealways believed that the most sustainableBerner in Thailand

tapping a rubber tree.

Social Entrepreneurship


model of creating positive social change is to supportthe change makers at the ground level—the peoplethat are really trying to help their communities—andAshoka does that. They have more than 73 AshokaFellows in Thailand. We donate a percentage of ourrevenues to Ashoka, and then they funnel the moneyas stipends to their Fellows.” Ashoka Fellows are the individuals who do the actual

work to bring about positive socialchange around the world. Theirbusinesses and associations areengaged in projects to improve theconditions of the poor anddisadvantaged in areas of health,education, the environment, andhuman rights. Berner goes on to say, “Partnering withAshoka is a perfect fit. Ten years down the line let’s saywe’ve given millions of dollars to the Fellows in Thailand.What next? Ashoka is global so we can use this model andjust expand it to other countries—India or Vietnam forinstance. It took me a long time to create the right modeland find the right partner in Ashoka, but once we did thatwe can see the vision. This is how I can make the mostimpact.” Berner’s framework for affecting positive socialchange includes three elements: fair trade, micro-finance,and community development. He and his partner plan towork this model into their website so people makingpurchases can see to whom and where their money is going.It’s important to Berner that this be apart of the conversation thatpeople have about Feelgoodz. Then there are the

stories about his first yearin business. When youare running a start-upbusiness there isn’t a lotof money for purchasinga customized companyvehicle to promote yourproduct. Not a problem forthe flip-flop guy. Berner went toone of the better known car leasing companies (whoshall remain nameless as what they don’t know won’thurt them) and leased a white van for a month for hisTexas trip. A white van is pretty generic though and

didn’t reflect the personality of the company. So Bernerhad custom Feelgoodz decals produced and applieddirectly to the van and thus, the Flop Mobile was born.Now it was hard to miss. And off they go to Texas.When Berner returned home, he knew he obviouslycould not return the van in its current state. As anygood entrepreneur knows, ingenuity in business is a keyrequirement for success. So with heat gun in hand,

Berner painstakingly removed each and every decalhimself. Then he had the van detailed and returned itin immaculate condition and the still unnamed well-known car rental company was none the wiser. A bitrisky? Sure, but isn’t that what being an entrepreneur isall about?

When asked about what advice he had for othersinterested in social entrepreneurship Berner didn’thesitate. “If you’re drawn to something you’re drawn for areason. Explore that—give it a try and find a way to makeit work. Think about the model and how your ideas aregoing to play out. Have a vision stated that will get you

there.” And don’t be afraid of hard work.Berner says: “There’s the

saying about the harderyou work the luckieryou get. I’ve beenvery fortunate inthat, throughoutthis whole process,things have gonemy way, but I’ve

worked really hard tomake it happen.” The flip-flop guy has indeed

put his best foot forward.For more information on Feelgoodz, visit

www.feelgoodz.comFor more of our interview with Kyle Berner,

visit www.business.loyno.edu


“It’s important for anyone that wants to be an entrepreneurto have a vision, adaptability, energy, tenacity, passion,and problem-solving skills.”

––Kyle Berner ’03

The Flop Mobile


18 Loyola Executive

Five Ideas forSmall Business Survivalin Tough Economic Times


Tough economic times, tight credit,and recession are words that usuallystrike fear in the heart of a smallbusiness owner. While the smallbusiness can be especially vulnerable inan uncertain marketplace, there are alsomany opportunities for success. Aproactive approach will enhance theprospects for short-term survival andcan facilitate long-term success. Hereare some tips for navigating the currenteconomic crisis.

1. Cash Is KingThe most important step is to manage

your cash flow. This can beaccomplished by developing an up-to-date accurate cash flow budget for atleast the next 12 months. This willrequire that you understand all monthlyoperational costs and determine yourcash flow break-even point. If thisanalysis does not prove as liquid as youneed or desire, then you will have to asksome serious questions. Can anymonthly operating costs be reduced? Doyou have any unused assets that can besold? Are there any receivables that canbe collected? Are employee bonusesbased on generating measurable results?Can inventory costs be reduced throughconsignment sales? Can you request ornegotiate extended terms from vendors?Do you overspend on needless officesupplies like premium paper, bottledwater, and gourmet coffees? What isyour debt capacity? Can your debt berestructured? It is always important toknow your seasonality and preciselywhen your cash shortages will occur, butthis is even more critical in tougheconomic times. Therefore, the time tobe cautious with cash is while it is stillflowing, not when it is critical.

2. Failing To PlanIs Planning To Fail

This is the perfect time to evaluateyour business continuity and businessinterruption preparedness. However, acontinuity plan is not just for naturaland big disasters. A continuity planshould plan for the small everydayglitches such as a computer crash, anemployee error, or a power outage.Generally, when a small business is wellprepared for the high frequency, but lowimpact business interruption, then theywill be much more prepared for the lowfrequency, but high impact inter-ruptions. A well thought out continuityplan implemented on a daily basis canincrease operating efficiency, reduceoperating costs, and decrease theamount of down time in any type ofbusiness interruption, including tougheconomic times. Remember the oldmotto, “tough times never last buttough small businesses do.”

3. Think Outside The BoxGetting customers through the door

will likely require you to reevaluate yourbusiness and the way you do business. Itmay require that you let go oftraditional methods such as newspaperadvertising and utilize the Internet orcreate a website. Likewise, don’tunderestimate social networking, othermedia, and blogging. This may be theperfect time to investigate that class onTwitter or website design you’ve beenputting off. Can you bring your businessto your customers instead of waiting forthem to come to you? Are there othertarget markets that you can attract? Forexample, a fine dining restaurant that


2. Failing To PlanIs Planning To Fail

1. Cash Is King

3. Think Outside The Box


becomes the “wedding event place” or an artsupply retailer that hosts a regular indoorarts and crafts event (similar to a farmer’smarket). Think about a retail music storethat has related music merchandise onconsignment. In other words, think of waysto create a “buzz” about your business andkeep yoursel f top of mind with yourcustomers.

4. Watch For Market OpportunitiesAnd Strengthen Your Niche

One interesting phenomenon that occurswhen other businesses around you are closingis that a market void may now be created.Don’t assume that the other guy’s businessclosed because the marketplace could notsupport it. The failure of your neighbor maycreate a vacuum for you to fill. So, now is thetime for your business to re-connect with yourcustomers, focus on your value proposition,and maintain your delivery of quality productsand services and any value added services.Consider gorilla marketing techniques such ase-mail marketing, special event sales, and in-store specials. Focus on sales efforts asopposed to advertising and marketing.Emphasize and reward sales efforts with everyemployee, even non-sales staff. Avoiddiscounting everything as this new discountedprice now becomes the established price.However, can you add a lower cost product orincrease a product line with the potential ofincreased sales? Evaluate generic brands,second-hand goods, repair services, recycledproducts, and refurbished goods with awarranty. These types of goods and servicestend to do well in a recession.

5. Invest In Your Employees AndYour Technology

Maximize their value by training them tobe efficient with their work. Cross train

employees and provide them with thetechnology and resources they need to dotheir job. Try not to lay off any employees atthis time, as this may send a negative signalto both employees and customers alike andreduce morale. Evaluate and assess the uti l i zation of

technology in your business . Considerinvesting in technology that can increasethe ef f iciency of your business andemployees. Inventory management softwareand business management software can bevery helpful in tightly managing financialresources and inventory. Utilize the Small Business Development

Center ResourcesA bus iness evaluat ion and asses sment

with an outs ide business profess ional canbe extremely helpful and have pos i t iveresults . Loyola Univers i ty New Orleans ,a long w i th co l l abora t ive pa r tne r s theUnive r s i t y o f New Or leans , Southe rnUnivers i ty at New Orleans , and the SouthLou i s i ana Economic Counc i l (BayouReg ion) , ho s t s the Lou i s i ana Smal lBus ine s s Deve lopment Cente r Grea te rNew Orleans Region. The SBDC technicalass i s tance services and resources empowersmall business owners and entrepreneurswith the r ight tools , technical ass i s tance,and r e sou rce s to he lp the i r bu s ine s se sstart , grow, and succeed. The SBDC of fershigh qual i ty and confidential consult ingwi th a t eam o f expe r i enced bu s ine s sp ro fe s s iona l s in a w ide va r i e ty o fd i s c ip l ine s and indus t r i e s . The SBDCspecial emphasis i s on cash f low, access ingcap i t a l , f inanc ia l r e sou rce s , l oanpackag ing , technology and e -commerce ,and business continuity. All ass i s tance i sat no cost to the business .

For more information, e-mail CarmenSunda at [email protected], call (504)831-3730, or visit www.lsbdc.org

20 Loyola Executive

4. Watch For Market OpportunitiesAnd Strengthen Your Niche

Utilize the Small BusinessDevelopment Center ResourcesA business evaluation and assessment with an

outside business professional can be extremely

helpful and have positive results. Loyola University

New Orleans, along with collaborative partners the

University of New Orleans, Southern University

at New Orleans, and the South Louisiana

Economic Council (Bayou Region), hosts the

Louisiana Small Business Development Center

Greater New Orleans Region. The SBDC

technical assistance services and resources

empower small business owners and entrepreneurs

with the right tools, technical assistance, and

resources to help their businesses start, grow, and

succeed. The SBDC offers high quality and

confidential consulting with a team of experienced

business professionals in a wide variety of

disciplines and industries. The SBDC’s special

emphasis is on cash flow, accessing capital, financial

resources, loan packaging, technology and

e-commerce, and business continuity. All

assistance is at no cost to the business.

For more information, e-mail CarmenSunda at [email protected], call(504) 831-3730, or visit www.lsbdc.org

5. Invest In Your Employees AndYour Technology


Do You Pay Louisiana Income Tax?Would You Like A Louisiana Income Tax Credit?

Think about making a gift of technology to the Loyola College of Business likecomputer hardware and/or software:

1. The equipment must be new, 2. It should be delivered by the vendor directly to

Loyola University New Orleans, and3. The invoice should clearly show the purchase price.

The state of Louisiana offers you a credit against your LouisianaIncome Tax equal to 40 percent of the value of the donation.

A gift valued at $2,000 could reduce your Louisiana Income Tax by $800,and in addition, reduce your Federal Income Taxes by as much as $700

through a charitable deduction. The result is a gift worth $2,000to Loyola with an effective cost to you of $500.

For more information on the College of Business’ technology needs and how youcan make a gift qualifying for these tax savings, contact:

Robert Gross, Director of Planned GivingLoyola University New Orleans7214 St. Charles Avenue, Box 909, New Orleans, LA 70118(504) 861-5565, [email protected]


22 Loyola Executive

The Eyes ofWest TexasAre Upon You

If you have ever lived in Texas, then youknow that Houstonians are different from theirneighbors in Dallas and likewise from those in SanAntonio. But, the most distinct breed of Texan hailsfrom what’s known as West Texas. This area of thestate features lots of open space, few people, and isdotted with towns like Muleshoe, Earth, Plainview,and Happy. Other than its panoramic big sky, thearea’s claim to fame is its livestock, oil, cotton, anda culture unique. In this desolate land where theprairie borders the frontier, people survived onlythrough faith in God and hard work. Its plain-talking inhabitants developed little tolerance forexcuses and diversions from work, at least until thesun went down; then the story-telling would begin.

Loyola College of Business faculty member, Dr.Jerry Goolsby, the Hilton Baldridge DistinguishedChair in Music Industry Studies, fits the mold of theperson you might expect to meet if your car brokedown in Lazzbuddie, Texas.

The road that brought Goolsby to Loyola fromWest Texas is, indeed, an extraordinary one. Fromthe seventh grade through his undergraduatedegree, he performed as a professional musician,earning accolades as a highly respected keyboardist.He segued into a career managing a retail musicalinstrument store and got an M.B.A. in an effort to

run the business more effectively. He opted to begina new career as a college professor, getting his Ph.D.from Texas Tech under the guidance of Dr. ShelbyHunt, one of the top scholars in the field.

For the next 15 years, Goolsby published articlesin marketing’s top academic journals and developeda reputation as a valued consultant, working onnumerous public and private projects.

He came to Loyola via the University of SouthFlorida to meld the two halves of his career—musicand business. Hired to jointly manage the MusicBusiness Program at Loyola, Goolsby brought hisdevotion to musicians and his expertise in business,along with his West Texas personality, to bolster theprogram and the Louisiana music industry.

The “Gools,” as he is known by many, has areputation as a passionate teacher with littletolerance for excuses for a lack of performance. Inexit interviews of graduating seniors, his classes areoften mentioned both as the hardest and mostenjoyable, but the highest compliments come fromalumni five or so years after graduation. Once in thetrenches, they learn the true value of his classes.

His former students often quote the stories hetells in classes to illustrate an important point. Toldin true West Texas fashion, full of detail and pointedaccompaniments, the stories drive home points andmake them easy to remember.

An often repeated story relates to the timeGoolsby was given 90 days to reverse the downturn in


Dr. Jerry GoolsbyHilton Baldridge Distinguished Chair inMusic Industry Studies

ExecFall09_21_25:128_loyolaSpring_10_17 9/16/09 3:44 PM Page 3

24 Loyola Executive

a division of a major corporation. The division hadbeen hemorrhaging millions of dollars a month. Thedivision’s senior vice president was presenting a choiceof two plans for moving forward—Plan A and Plan B.After listening patiently for more than an hour,Goolsby asked, “Is there anyone in this room whowould support Plan B under any set of circumstances?”No one answered. Goolsby asked the vice presidenthow much income he earned from the corporation, andhe refused to answer. Goolsby said,“Let’s just suppose it is $300,000.Why should this company pay you$300,000 a year, when you can’tmake even a simple decision likethis? We can go to a local juniorcollege and get an intern to workhere for nothing, and they won’t be able to make adecision either.” The vice president responded that hewas insulted. Goolsby said, “No, insulting is getting outof bed at 5:00 in the morning in paradise and flying intothe frozen tundra to listen to you blather about adecision that is not even a decision. That’s insulting.”Then, in typical “Gools” fashion, he screamed, beatingon the table, that from that moment on there would beleadership and no more buck-passing, and that anyonecalling another meeting to waste time like that wouldbe fired on the spot. After 90 days, the culture hadchanged and the division returned to profitability, inpart because of a return of leadership to the division.Goolsby remains friends with the vice president, whohas been identified as the heir apparent to head thecorporation.

It takes a straight-talking, clear-thinking, quick-witted West Texan like Goolsby to reduce things toa fundamental denominator—common sense.Maybe that is why he has been a top-rated teacherhis entire academic career. Students gravitate to hisblend of passion for the subject, concern for theircareers, and his discipline to high performance.Simply put, do the job well or pay the price with alower grade. Most professors with very highstandards earn a reputation for being tough, but

Goolsby’s reputation is one of “tough love” for thewelfare of his students.

Goolsby says he has two primary customers hemust satisfy: employers who hire his students andthe next teacher to teach them. He often says, “Iam not here to make you happy; I am here to makeyou successful.” Who can argue with that reasoning?

In addition to being a great yarn-teller, Goolsbyhas a way of making his classes very interesting

because he blends theory, practice, and commonsense in his lectures. He finds using insightful quotesas ways of making his point but from a third personperspective. A quote that captures Goolsby’smantra, “no pain, no gain,” is from Brenda Clark,the former principal of Azalea Elementary School inPinellas County, Fla.: “You shall know the truth andthe truth will set you free, but first it is going tomake you incredibly miserable.”

Another facet of “Gools” is his devotion andpassion for the music and musicians of Louisiana. Inhis “spare” time, Goolsby works tirelessly to see thatthe great talents of New Orleans get a fair shake fortheir creative contributions.

In the last 10 years, Goolsby has found a new hobby,building guitars in his workshop. Maybe someday guitarplayers across the U.S. will cherish their “Goolsby,” theway violinists cherish a Stradivarius. Given his trackrecord, he’ll probably succeed.

Maybe Goolsby’s West Texas state of mind is bestsummed up by his question of someone who hasrepeatedly tried to solve the same problem with thesame approach only to fail but is still reluctant tochange his ways, to which Goolsby asks: “How’sthe old way been workin’ for you?” A goodquestion for all of us to remember!

It takes a straight-talking, clear-thinking, quick-wittedWest Texan like Goolsby to reduce things to afundamental denominator—common sense.



Goolsbyisms(Famous Quotations Dr. Jerry Goolsby Likes to Use)

“The future belongs to those who are better at getting better.”—Ko Nishimura, CEO, Selectron, two-time Baldrige winner

“When the rate of change outside exceeds the rate of change inside, the end isin sight.”

—Jack Welch, Chairman, General Electric

“The wages of sin are death, but by the time taxes are taken out, it’s just sortof a tired feeling.”

—Paula Poundstone

“Great minds discuss ideas. Average minds discuss events. Small mindsdiscuss people.”

—Admiral H. Rickover, the “Father of the Nuclear Navy”

“I don’t want any yes men around me. I want everyone to tell me the trutheven if it costs them their jobs.”

—Samuel Goldwyn

“Everybody repeat after me .... ‘We are all individuals.’”—Stephen Wright

“An empty wagon makes a lot of racket.”—West Texas expression

“If you’re riding ahead of the herd, take a look back every now and then tomake sure it’s still there.”

—West Texas expression

“If you think you are doing well, you are comparing yourself to the wrongpeople.”

—Mort Feinberg

“If you pick up a starving dog and make him prosperous, he will not bite you;that is the principle difference between a dog and a man.”

—Mark Twain

“There are only two kinds of people: Those who finish what they startand so on ...”

—Robert Byrne

“Before you can walk in someone else’s shoes, you must first take off your own.”

—Mark Twain

“You can’t wake up someone pretending to be asleep.”—Linda Bankoski

“Whether you believe you can or cannot do something, you are right.”—Henry Ford

“We don’t like their sound, and guitar music is on the way out.”—Decca Recording Co., rejecting the Beatles in 1962


From Lafayette to Loyola to Belize--Good guys don’t always finish last. Just ask

College of Business graduate Greg Fontenot ’09.He’s indisputably nice, and he’s finished well aheadof the pack many times in his Loyola career.

Fontenot, 23, graduated magna cum laude lastspring, with a bachelor’s degree in businessadministration, after spending nine semesters on the

dean’s list. As a student, he was inducted into thebusiness honor society Beta Gamma Sigma and theJesuit society Alpha Sigma Nu. He won the AlumniLegacy Scholarship and was awarded the RichardDrew Wilkie Memorial Scholarship three times inhis college career. He was president of the Collegeof Business in his junior year and was honored at

--

Greg Fontenot ’09 receiving the Ignation Awardfrom Loyola President Kevin Wm. Wildes, S.J.


----A True Global Citizengraduation with the Ignatian Award, the highestaward presented by the university to graduatingstudents. He will enter medical school in the fall of2010 after a year of volunteer service with the JesuitVolunteer Corps.

A real overachiever.Far from being the cutthroat, B-school shark

represented in movies likeWall Street, Fontenot actuallyspent his college days helpingothers and wants to continuecontributing to the commongood.

While completing hisdegree in finance andminoring in pre-med,Fontenot volunteered forvarious organizations. Withthe Ignacio Volunteers, hewent on a series ofinternational immersionservice trips to Belize andJamaica and worked withdisadvantaged youth andelderly.

“My experience with theIgnacio Volunteers openedmy eyes to what it means tobe a global citizen, and Iwould like to continue thatin whatever form that mightbe,” Fontenot says.

The Rev. Ted Dziak, S.J.,Loyola’s vice president forMission and Ministry, isimpressed by Fontenot’swork, scholarship, and zealfor helping people. “Havingtaught him, supervised him,

and worked alongside him in volunteer service, Ithink he is such a genuine person, alwaysenthusiastic and passionate,” Dziak says. “Fromteaching young children basic skills on the Belizeanbasketball courts to shaving elderly men in thepoorest areas of Kingston, Jamaica, I’ve never seenhim without a smile and an open heart.”

And that experience paid dividends in theclassroom as well.

“Gregory was enrolled in my international financecourse during the fall 2008 semester, and hisparticipation in the lectures was exemplary,” saidfinance professor Mehmet F. Dicle, Ph.D. “Thefinancial crisis in the U.S. started to affect othercountries’ economies, and he showed genuine interestand enthusiasm for application of our theoreticalconcepts to current international financial issues. Thismade all the difference for his term project.”

Fontenot was a fellow at the Jesuit Center at Loyola,coordinating events and communications to promote adeeper understanding of Jesuit and Catholic ideals. Healso was a team leader for the Christian LifeCommunity, volunteered for Habitat for Humanity,and represented Loyola at a Jesuit school gathering atthe School of the Americas in Fort Benning, Ga.,promoting awareness of social justice.

He credits his family for their guidance andcommitment to volunteerism. His grandfather, a 1949Loyola pharmacy graduate, volunteered with theKnights of Columbus for 63 years and baked breadevery week to give to the hungry. Both parentsvolunteer with their church and lead Bible studies.

“My parents are very good role models,” Fontenotsays. “I feel I’ve been blessed to have an example ofvolunteering within my faith community.”

Hailing from Lafayette, La., Fontenot learned towork hard at a very early age. He took on many ofhis family’s responsibilities after his mother wasdiagnosed with cancer and became very ill.



“At seven, I was washing clothes two times aweek, unloading the dishwasher, and helping withmy sister and brother,” while his father workedovertime, Fontenot says. “When I look back on mylife, that was the age that my work ethic andoutlook on life was formed.”

At the College of Business, Fontenot harnessedthis ethic and learned how to channel hisenthusiasm into constructive ways to help others. “Ilearned so much,” he says. “I feel I have beenenabled through my education to make the changesI want to make. When I find a cause I want to fightfor, I have the tools to take it from theory to action.”

For the next year as a Jesuit Volunteer, Fontenotwill head to Boise, Idaho, where he will be ahealthcare advocate for the homeless. In fall 2010,he will enter medical school at Louisiana StateUniversity Health Sciences Center in New Orleans.From there, Fontenot’s future is unscripted. But

one thing is certain: This B-schooloverachiever will use his Loyola degree forits best and highest use, putting others first.“I’ve known Greg for a few years and seen

the positive change in him as he movedthrough Loyola,” Dziak says. “Gregembodies the very best qualities of agraduate of a Loyola education: he is anintelligent, profoundly faith-filled, andselfless young man.”

The feeling is mutual.“I am so proud to have graduated from the Loyola

University College of Business,” Fontenot says. “I’mgoing to see where my passions lie; see what makesme come alive. The College of Business hasempowered me to follow my passions.”

28 Loyola University New Orleans Magazine

“My experience with the Ignacio Volunteersopened my eyes to what it means to be a globalcitizen, and I would like to continue that inwhatever form that might be.”

— Greg Fontenot ’09

Fontenot coaching basketball in Belize



College of Business honorsoutstanding alumni,hosts banking panel

The 24th Annual College of Business AlumniLuncheon, held March 27, was a rousing success.Mary Jo Jacobi ’73, Civil Service Commissionerappointed by Queen Elizabeth II, was awarded the2009 Alumna of the Year Award, and KyleBerner ’03, founder of Feelgoodz eco-friendlyflip-flops, was the 2009 Young Alumnus of theYear.

WDSU anchor Travers Mackel ’98 led a frankand provocative discussion with a spectacularpanel of local, regional, and national bankingpractitioners, including: Barry Bleakley, chieffinancial officer, Omni Bank; J. Michael “Mickey”Brown, ’91, president and CEO, First Bank andTrust; Karl Hoefer, market president, IberiaBank;Joseph S. Exnicios, J.D. ’90, senior executive vicepresident and chief risk officer, Whitney Bank;Scott Howard, commercial banking executive,Regions Bank; and John Kallenborn, president,Chase Louisiana.Mark your calendars—next year’s luncheon

will be held March 26, 2010!

Mary Jo Jacobi ’73

Kyle Berner ’03

Barry Bleakley, J. Michael “Mickey” Brown ’91, Karl Hoefer, Travers Mackel ’98, John Kallenborn, Joseph S.Exnicios, J.D. ’90, and Scott Howard


30 Loyola Executive

Class of 2009...The “Katrina Class”

Every May is a time of celebrationand reflection for the College ofBusiness as our students graduate andleave our campus family to pursue theirgoals and dreams. This year’s class wasespecially near and dear to our heartsas they will forever be known as theKatrina Class. These graduates came tous in August of 2005 as wide-eyedfreshmen, and before we even had achance to introduce ourselves, we allhad to pick up and leave for…well, youknow the story.We all asked ourselves the same

question, “Will the students return inthe spring when we reopen?” Theycould have understandably goneelsewhere. But these students toldtheir parents they wanted to return andhelp rebuild, and that’s what they did.And we thank them for that. We knowthat what they learned from theirprofessors and their real-lifeexperiences here at Loyola will staywith them for the rest of their lives.We wish them success and celebratetheir fortitude and accomplishments.

Jay O’Conner ’09 and family

John Schroepfer ’09 and his very proud parents

Evan Stoudt ’09 withDean Bill Locander

ExecFall09_30_31b:128_loyolaSpring_10_17 9/16/09 3:23 PM Page 2


Photo Caption

Zachary Fietsch ’09

Dr. Kendra Reed with Carlo Macias ’09and his family

Major Gifts Officer TraciWolff and 2009 OutstandingGraduate Meghan Geeck

Dean Bill Locander, Lee and Pat Lynch, Provost Ed Kvet

Dr. Kate Lawrence andBraxton Bernard ’09

Robert Swanton ’09, Teach forAmerica, and Justin Marocco ’10

Dr. Susan Wilkie with LauraReynolds ’10, recipient of the DrewWilkie Memorial Scholarship

ExecFall09_30_31b:128_loyolaSpring_10_17 9/17/09 1:27 PM Page 3

Campus Box 9097214 St. Charles AvenueNew Orleans, LA 70118-3565

Non-Profit Org.

US Postage

PAIDBurlington, VT 05401

Permit no. 185

Contact the EMPLOYOLA team at the Career Development Center at Loyola

University New Orleans. We can assist you in designing a personalized hiring

plan for your organization to hire interns and graduates.

Let us help you arrange:

• Presence at a career fair

• Job postings

• Onsite visits

• Internship postings

• Onsite interview days

• Resume searches

• Onsite information sessions

• Career event sponsorships

• And so much more.

www.loyno.edu/careerservices

(504) 865-3860

[email protected]

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