Message from the President

OPEN 24/7 @

WWW.MESA.CA Fresh new Look

Editors in Chief: Sanjeev Patel and Leah Ramkaran

Contact Info: mesa@utsc.utoronto.ca Phone: 416-287-5615

Welcome back, I hope everyone had a wonderful holiday season! In 2003, MESA will present a wider variety of events! We’ve got the Canadian Securities Institute Information Session, Masters of Taxation Seminar, Human Resources night and our annual banquet, just to name a few. Back by popular demand, Part 2 of the FinEx stock market challenge will start up in a few weeks! Check out our website (www.mesa.ca) for the most up to date information on all our upcoming events. I know that many of you are concerned about the schedule that UTSC's Academic Committee put in place for the summer 2003 trimester that does not accommodate final examinations six weeks into the trimester. I received over one hundred emails from concerned students once that announcement was made! I assure you that the Division of Management is working around this constraint as best they can to create the best summer course offerings possible for students! Are you interested in getting involved with MESA next year? In the next couple months we will be letting you know how to get on next year’s MESA executive team! Keep your eyes open and check the MESA website for updates. Good luck in the new year! Regards, Jacinda Clarke

Inside this Issue: Page 2 • How trimestering affects you Page 3 • Wine and Cheese Success Page 4 • Write a winning cover letter Page 6 • Choosing the Right Career Page 7 • How to Lower Your Taxes Page 8 • FinEx Winners • University Rankings Page 9 • New MGMT building

What's New and Upcoming?

• Consulting Event • CSI Info Seminar • Masters of Taxation Seminar • Options Trading Seminar

Building tomorrow’s leaders today

M • E • S • A Management & Economics Students’ Association

JANUARY 2 003

The

Trimestering: An Important Update

What is Going on in Summer 2003? The short answer is that nobody really knows yet, for the long answer read on…. On Tuesday December 3rd I attended an academic committee meeting in the Council Chambers along with many concerned Management students and faculty. This is a committee made up of students and staff from the different divisions at UTSC. The purpose of this committee is: -to oversee and approve all curricular and academic matters on which the Committee's decision is re-quired including programmes, courses, and aca-demic regulations and policies and -to take a pro-active role in the development of the academic character, the quality and suitability of academic services of the University of Toronto at Scarborough At this meeting Professor Michael Krashinsky (Economics), seconded by Andrew Stawinoga, put forward a motion to allow students to continue to take sequential 6 week summer courses. This means that students could take a course in May and June and write the final examination at the end of June, and do so again in July and August. In the past there were also many courses offered that were spread over the entire 12 weeks of the summer. For these courses, the exam week in June was the equivalent of a reading week. Management faculty and students spoke in favour of keeping the current system for this summer. Listed below are some of the arguments used: -Current students have not been given enough no-tice to implement a new system this summer. It af-fects work and travel plans and could delay the graduation of senior students. -Summer teaching staff under the current system can teach for just 6 weeks of the summer, and take holidays in the other half of the summer. With 12

week courses, summer teaching staff would be un-able to take holidays during the summer. -Co-op students currently can take sequential courses together (ie. MGTC03 and MGTC09) even though they are not usually in school for two se-mesters in a row. -Professors find that they need to attend many re-search conferences and conventions that take place during the summer months, thus making it harder to commit to teaching for all 12 weeks of the sum-mer. Professor Buchweitz (Mathematics), backed by Principal Thompson, put forward a motion to change reading week from the end of June to the first week of July for 2003. This eliminates the possibility of having an examination week for the six week courses because it does not split the sum-mer semester into equal parts. This would require most courses to be offered throughout the entire 12 weeks of summer. Listed below are some of the arguments used: -By placing reading week in the first week of July, the Tuesday July 1st holiday becomes a part of reading week. Therefore all the classes held on Tuesdays are on track with the rest of the school. -It brings UTSC more in line with trimestering, because the summer trimester would operate much like the fall and winter trimesters. The committee voted in favour of Professor Buchweitz’s motion, resulting in the summer read-ing week taking place from June 30th to July 4th. Many students are very upset because this appears to be such a last minute decision, although Princi-pal Thompson argues that the decision to trimester was made years ago. No one realized that trimestering would eliminate the examination week in the middle of the summer.

Page 2 The Executive

The Executive Page 3 The Executive Page 3

The Division of Management has since formed a task force to reconstruct the summer program. They are hoping to combine many of the sequential H courses (such as ECMB11&ECMB12 or MGTC03&MGTC09) into a single Y course and offer these Y courses spread over the 12 weeks of summer. As soon as the task force reaches its final conclusions, their proposals will be made available on the MESA website (www.mesa.ca) along with any new advancements to the situation.

Trimestering cont…..

Students Voice Their Concerns… “Why can't we hold a vote to let students have a choice? Or at the very least, why can’t we be informed of changes with enough time to schedule our courses accord-ingly? Apparently trimestering has been an issue for a few years, yet the students have been left in the dark. It’s ridiculous and un-fair considering the amount of money we pay to be in the management program at UofT. What is being done for us?” “I planned to take MGTC03 AND MGTC09 in the summer of 2003. I would really like to complete these two courses during the up-coming summer because I will be having my 2nd co-op work term in Fall 2003. I do not want to take these two courses separately with four months (the fall semester) in be-tween (if I can only take MGTC03 in sum-mer, then I will have to take MGTC09 in winter 2004). I am wondering if you can provide me with some assistance on this is-sue.”

On Thursday, November 14, MESA held another successful Mentorship Wine & Cheese Night at the Miller Lash House. The event, which is now in its third year, was held by MESA in conjunc-tion with the Management Alumni Association (MAA). The program started as an event for university stu-dents to have a chance to talk to various represen-tatives in the industry about their experiences. The partnership has blossomed into one in which selected students are matched up with a mentor from an area of interest. The purpose of this event is to connect students to someone that can offer a realistic view of what it is like in the business world and to build a more personal relationship with someone in the industry. MAA and MESA sponsor the event to MESA members at no addi-tional cost. Aside from great wine and great conversation, stu-dents had a fantastic opportunity to network with someone with whom they shared similar interests and were encouraged to use this person as a sounding board. The program run by MAA and MESA offers intrinsic benefits to both mentors and protégés alike. I was lucky enough to meet my mentor, Surendra Nawbatt, a Project Manager at Telus, at the Wine and Cheese. As a first year mentor, he looked for-ward to sharing his UTSC experiences with me as well as offering advice to me in terms of academ-ics and in terms of life. After a few hours of food and conversation at the Frederick two weeks later, I found myself with a both a new mentor, and a new friend. The entire process was delightful. Special thanks to King Lui, the MESA Alumni Liason, who co-hosted the event.

Wine & Cheese Success Story By: Onirik Sarma

Your Cover Letter along with your Resume have one purpose only – to get you an interview. Neither gets you a job. Ever. How many chances do you have at making a first impression? Duh. Right. So make the most of it. If you’re thinking that your cover letter is just shrink-wrap keeping me from the goodies inside (your resume), stop and think again. It’s the sizzle, Baby. It’s where you get your mojo working. Be succinct, assume I'm busy, and get right to the point. Don’t waste time and space with, “Please accept my application for the position of Supreme Commander as advertised in …”. Instead, right after “Dear Mr/Ms Employer” note “Re: Supreme Commander – Posting No. BS-711” – that’s all you need. Me, the Reader now knows that your application is in the right pile. Now get on with it! Sell me on You! Give me reasons to believe that You are heaven sent. Tell me some things about me – not me Bozo, my organization, you aren’t asking me for a date. We must have some problems/issues/services to solve/deliver, otherwise why would I want to pay you to work with us? Do some research - websites, newspapers, annual reports. Example - our sales are down, and you increased sales while you were the Crew Chief at Ace Burgers & Fries. Weave a little story about you and sales. Bingo, you’ve got my interest. Tell me about accounting or garbage collection and you haven’t hooked me. Tell me how your experience, training and whatever else makes You a dream come true. (Don’t give me any of that malarkey that you’re only 21, you have oodles of experience and talent. Remember to connect the dots for me cause I’m not real smart and I don’t get answers from a ouija board.)

Snagging the Interview: Part 1 Cover Letters – First Impressions Count – Big Time

Page 4 The Executive

Forget about "My career objectives are...". Target what you want. Shotguns are for duck hunting, not career planning. Do us both a favour. Do a little research. Apply because you think you can help me and because I can help you in your career. During our interview(s) we’ll both decide whether we’ll be a good “fit”. Your Cover Letter won’t tell me that. Craft a letter just for me. I get lots of form letters, lots. They’re easily spotted. Form letters do not a good first impression make. Being the first kid on your block with a new scooter will win you status points. Rad, man. Being first in with an application isn’t more likely to win you what you want – an interview. Listen up Dude, throwing in a form letter that doesn’t talk to me about me is doomed. Do you like being a Loser? Do you like being home alone on Saturday night again? Send a form letter. Take your time. Check and re-check your letter and resume for grammar, punctuation! and spellling. Ask someones elses to do da same cuz after you’ve red it and reviced it twenny times your eyes won’t know rite form rong. See whad I mean? When your Cover Letter is done, walk away. The next day bring it up again. You’ll be amazed at the damage inflicted by the gremlins overnight. Fix it. Send it. One page maximum. Use white space. Ask for opinions on the visual quality of your letter, resume and attachments, if any. Santa Claus always wears red and white. You wouldn’t recognize him in a purple tutu. Create and sustain a consistent identity for yourself too. Your package should read as an ensemble – coordinated, complementary. It’s You, Baby. Keep your mouse away from the bold and CAPS

toggles. Way TOO distracting. Anyway, I’m sure it means that you've got a delete and replace macro for your form letter, that you probably failed grade three art, and that you’re like dysfunctional communications wise, eh. Get in touch with your artistic side. Use the Co-op staff for feedback and assistance. Christine, Paula and Michelle know Cover Letters (and Resumes, and Interview Skills, and Professional Presentation, and & and & … They’re the bees knees.) Tell them Mikey sent you – I get a commission for every referral. Not! Remember this - HR is not your friend. HR’s job is to screen out applicants. Give HR what it asks for. Cover all the key items. Miss even one and that wretched HR clerk has cause to toss you on the Reject Pile. HR is not going to fill any blanks; what’s missing is missing. (Exception: don’t ever give salary expectations. Write that it’s something “to be discussed”.) Make it easy for those HR clerks to find what they’re looking for. If they want bits and bytes about ‘A’, ‘B’ and ‘C’, give it to them and in that order. They are not keen hunters and gatherers. They may have hundreds of applications for the same position; give them no reasons to junk you. Treat them with genuine dignity and respect while you spoon-feed them. Don't be overly concerned about special paper. Your original on parchment with ragged edges may be photocopied before it gets to the decision maker, especially if your application goes through HR. But it's your call. No right, no wrong. Spiffy paper does stand out though from run of the mill photocopy paper. Laser quality, never dot matrix. Practically everyone uses email to send stuff as attachments. Scan your signature so you can add it to your cover letter. That personalizes your letter – I kick myself whenever I resort to Brush Scr ipt to add my signature to a letter attachment. Sadly, upper echelons of business and

personnel continue to be populated by people as old as or older than your parents who distrust e-mail and regard attachments as instruments of the devil. If you’re invited to apply by e-mail, go ahead, but consider also sending a hard copy. Writing Covering Letters and Resumes is a practiced skill. The more you do, the better you get. Get critical feedback. Try different things. Use different phrases. Take considered risks. Convince the reader that this is a “one off” letter. Remember this if you remember nothing else. The purpose of your Cover Letter and Resume are to get an interview. That's it. That’s all. Your Cover Letter is a synopsis of You. Your Cover Letter should leave me breathless, anxious to meet You. In my wildest dreams never did I think that I would ever discover You through a Cover Letter. Yeah Baby. Michael Ellis Real Property Consulting Group Public Work and Government Services Canada. (Writer of scads of Cover Letters and Reader of al-most as many. According to Mikey, Mikey knows Cover Letters. Every one a challenge, every one unique.)

Page 5 The Executive

Page 6 The Executive

CAREER AND PASSION By: Beth Oakes, Partner

Miller Dallas Inc.

“What am I going to do?”

This is a typical question for those starting out on their careers. It is a difficult question. New gradu-ates and students can get overly concerned and put undue pressure on themselves in trying to come up with the right answer.

Statistics say we will have 5 careers during our working lives and each job will be for 2 to 5 years. I strongly recommend that you pursue a career in an area or field you are interested in, recognizing that this too will change in time.

We need to steer our career thinking into areas or activities that we enjoy, and where we could poten-tially gain great satisfaction.

Let’s start with a conversation about your “passion”. Where is your “passion”? Is it around literature, peace, cars, horses, money? … and the list goes on. We will look at your ‘passion’ and how it is trans-lated into the world of work.

Let’s look at two examples.

Example #1:

Let’s assume your passion is cars. How can we work and earn money in the car world? The obvi-ous response might be to build them or sell them. If you are not an engineer, building them is not an op-tion. If you are not motivated by the sales function, selling them is not an option. Although these 2 ar-eas might be training ground to better appreciate the overall operations of an automobile manufacturer.

Perhaps you are motivated by how cars are mar-keted to the consumer, how they are positioned and presented to the market place.

This translates into a marketing role targeted to an automobile company or to a consulting firm that specializes in marketing vehicles.

Example #2:

Let’s assume your passion is people. How can we work and earn money in the area of people? This might translate into helping roles in the social ser-vice fields. It might also translate into the general field of human resources which has specialty ar-eas. The setting might be corporate offices, or professional services firms.

Think about your passions. Talk to an advisor, someone whose judgment you respect to explore industries and roles. Approach your network to research where the opportunities lie and to get in-formation on specific industries and trends. This can be managed with a planned and thoughtful approach. Treat this exercise as a research pro-ject. The deliverable is to identify one or two in-dustries you are ‘passionate’ about, list those com-panies and businesses within that industry that are of interest to you. Research the companies using the Internet. Investigate their web sites. Deter-mine who has the power to hire you and use your network to talk to this individual.

Your passion will translate into work.

Reach for this.

Full-time university and college students may claim a tax credit of 16 per cent of eligible tuition fees, plus a credit of 16 per cent of $400 per month. To qualify, students need not be in full-time atten-dance, but only enrolled as full-time students. Dis-abled students enrolled part time may also claim the credit. Students who are engaged in part-time studies—defined as a minimum of 10 hours of course work each week in a program lasting at least three con-secutive weeks at a designated educational institu-tion in Canada—can deduct $120 a month toward eligibility for the 16 per cent federal tax credit. The same transfer and carry forward provisions applicable to full-time students also apply to part-time students. Students have a choice of declaring either a full-time or part-time education credit. There are some mandatory ancillary charges, such as fees for computer services, labs, health and ath-letics, which are also eligible for the tuition credit. Mandatory computer service fees eligible for the tuition credit may also include use of a laptop com-puter and applicable software. Tuition fees must exceed $100 per institution and be claimed on a calendar-year basis. Courses must be taken at a post-secondary level or be for occupa-tional skills provided by a qualified educational institution for students 16 or older. Unused tuition and education credits may be car-ried forward indefinitely to offset the student’s in-come taxes in future years. Alternatively, students may transfer unused credits of up to $5,000, re-duced by their income in excess of personal credits, to a supporting person but the transferred credits must be claimed in the year incurred. Beginning in 2002, access to the education tax credit has been expanded to include taxpayers who are receiving financial assistance for their post-

secondary education through the EI or a similar provincial program. The 2001 federal budget also allows disabled peo-ple who are enrolled in Human Resources Devel-opment Canada (HRDC) or equivalent provincial/territorial approved training programs to deduct those related expenses. Such courses may, for in-stance, allow the taxpayer to finish high school, improve their literary skills, or upgrade existing educational credentials in order to improve their employment chances. This new adult basic educa-tion (ABE) deduction is also retroactive and might therefore apply to financial assistance received dur-ing taxation years after 1996. If you reside near the Canada/U.S. border, you may be able to claim a tuition credit provided you are registered in and commute to a designated educa-tional institution in the U.S. Courses taken outside of a university that are de-signed to improve personal skills, such as training to learn a second language, would not likely qual-ify for the tuition tax credit. The Income Tax Act states that to qualify for this credit, such courses must be designed to improve occupational skills and be held at a certified place of instruction. For more information on tax credits and income tax issues, visit CGA Ontario’s Personal Tax Planning online edition, at www.cga-ontario.org or pick up a copy of Personal Tax Planning 2002 at your lo-cal Staples Business Depot. All or a portion of the fees charged in an internship program may be eligible tuition fees for purposes of the tuition tax credit, provided they relate to the process of academic instruction and do not consti-tute a placement fee.

How to Lower Taxes Through Tuition and Education Credits By: CGA Ontario

Page 7 The Executive

Page 8 The Executive

Student Loan Interest Tax Credit A 16 per cent federal tax credit is available on the repayment of interest on federally or provincially approved student loans. To be eligible, however, students must consolidate their loans with an authorized lender after graduat-ing and assume responsibility for paying interest by the first day of the seventh month following comple-tion of their studies. Students have the option of applying that non-transferable credit to either the current year or up to five subsequent taxation years.

CGA Article Continued...

The Financial Experience’s (FinEx) stock market challenge has been an exciting ride for the first se-mester. For three months, players were given the opportunity to manage a fictitious $200,000 portfo-lio. Throughout the challenge, prizes were awarded for the most improved portfolio and for correctly answered finance trivia questions. Monetary re-wards of $250, $150, and $100 were awarded re-spectively to the top three winners. First place is Anton Hyngius, who grew his portfolio to $320,651. Second place is Feng Pan, who ended with a portfo-lio of $273,553. Third place is awarded to Edward Li and Veronica Ho. Through teamwork they were able to increase their portfolio to $268,643. Con-gratulations go out to these winners as well as to all of you who came out and participated. For those interested in continuing with online trad-ing, consider opening a discount brokerage online account with TD Waterhouse (http://www.tdwaterhouse.ca/nawk.jsp). Submit your name and TD account number to lisa.tran@utoronto.ca, and you will be entered into a draw for a mystery prize from TD Waterhouse. The draw will be held at the end of this school year.

FINEX WINNERS Lisa Tran, Director of Special Events

What University Of Toronto Students Say… Students at University of Toronto are proud to say that their university has a great and well-earned academic reputation. Many boast that “U of T is home to some of the best faculty in the country” and there is a resounding appreciation for on-campus diversity – from culture and course offer-ings to lifestyles. Students who attend the smaller campuses in Scarborough and Mississauga feel that they get the best of both worlds: A beautiful, small campus with a strong sense of community and the benefits and prestige that come with being a part of the University of Toronto. But class size and sometimes impersonal atmosphere at the St. George campus definitely take their toll on stu-dents, leaving many feeling “isolated” and “anonymous”. Some first year classes have “over 2000 students”. And when it comes to competi-tion, many feel that the school is just too cutthroat and pretentious. Costs are also a big issue, particu-larly with the expensive housing and transporta-tion costs in Toronto and the school’s “exorbitant student service/incidental fees”. University Of Toronto Students Speak Out About… Academic Reputation “I like the fact that the reputation is lived up to. Also the quality of teaching and friendliness of the professors has made the learning experience good.” “It's a great school. Unlike other universities that tend to shelter/'spoon-feed' their students, the stu-dents here are prepared for realistic opportunities of the future. It's where 'the best of the best' gather.”

University Rankings By: University Report Card

The architect selection committee has chosen Kuwabara Payne McKenna Blumberg Architects (KPMB) to design the proposed management building. The presentation by KPMB directly addressed the con-cerns and aspirations of the committee. Their first cut at a design displayed imagination in integrating our program with the strengths of the site. KPMB has had extensive experience with academic buildings, including the Munk Centre, Fields Institute, and Woodsworth College, all on the St. George campus. Stay tuned for ongoing reports on the progress of the building.

Page 9 The Executive

New Management Building Architects Selected

Northeast Perspective

Southwest Perspective

Artist's renderings of the proposed management building.

©2002 Ernst & Young LLP

One of our job requirements includes “being yourself.” How can you grow as an individual if you’re being forced into a mould? At Ernst & Young, we empower you to push the boundaries. We offer the chance to generate creative ideas that really count. On our teams everyone has a role to play and something to contribute, so not only do you have a voice but you can make a difference with clients and co-workers alike. Break the mould. www.ey.com/can

“The one thing I like best about U of T at Scarborough is the size, and the minimal contact with the elements. Unlike downtown, we are situated in one building where classes are always taking place, with the exception of the pavilion.” “I dislike the fact that it's not intimate, everyone is competing with one another as opposed to working together as a team.” “The intensely competitive environment and the seeming sabotage of students to ensure only those with super-human GPAs enter professional programs.” “Too competitive! Emphasis is put strongly on getting the best marks rather than understanding the course material.” “The cost of being a U of T student consistently increases and is especially affected by exorbitant student service/incidental fees.”

Student Opinions and Comments about U of T By: University Report Card

Certified Management Accountants of Ontario

Certified General Accountants of Ontario

Our mission is to provide our students with the best pre-professional undergraduate management

education in Canada.