Greetings from Maastricht!

Nine EIU business students, accompanied by Dr. David Boggs (Management) and Dr. Richard Flight (Marketing) arrived safely in Brussels, Belgium on Monday morning, May 11, 2010, after successfully flying around the ash of Mt. Eyjafjallajokull on their overnight flight that departed Chicago. As a result of the detour due to the volcano they flew right over Greenland and Iceland, both very interesting and icy places to see; it was far enough to the north that they saw no darkness at all, despite it being an "overnight" flight. Upon landing, the class passed through customs quickly before taking a train to Maastricht, Netherlands, where they will be based until early June. Monday evening the group was given a tour of Maastricht, along with lots of information on its unique and interesting history, by Donn Wiltschut, a local resident and friend of Dr. Hank Davis (Accounting), who will be joining the class in about two weeks. (A picture of the students, professors, and Mr. Wiltschut taken during the Maastricht tour accompanies this post). Tuesday Dr. Marko Grunhagen (Marketing) visited the morning class and provided additional orientation and information to the students, with special emphasis on Germany, his country of origin and the destination of the students their first weekend in Europe. Wednesday the class visited Amsterdam and toured a flower market and Heineken operation. Thursday, the class topic was international marketing, led by Dr. Flight. All is well here and the students, many of whom are traveling out of the USA for the first time, are learning lots about international business, and are making friends and having a great experience at the same time!

David J. Boggs, Ph.D.

Assistant Professor of Management

School of Business

Eastern Illinois University

The Link (Update 1)

Many students fail to see the importance of their collegiate education and how it relates to the 'real world'. My goal, in a series of posts starting here on out, is to link the academic world experiences to that of the work world. First though I feel a little bit of background would be appropriate.

My name is obviously Tony Zipparro, and I am 21 years old with a BSB in Finance and MBA from Eastern. While at Eastern I started the shells of a Hedge Fund entity in August 2008. During that time I slowly got my ducks in a row so that upon December 2009 graduation me and the 3 other partners I brought on could go full-speed. Since graduation we have been running our business operations out of Vernon Hills, IL and the experience has been exciting to say the least.

The LINK that most prominently comes to mind is that of knowing your Microsoft Office package through-and-through. Excel, PowerPoint, Publisher and Access are invaluable tools for keeping our business running and thriving. For this post I will be selfish and focus on an area of Office I have always loved: Excel.

EXCEL...CASE & POINT:

Our company is a leading player in the industry and attracting much attention partly due to the speed and accuracy at which we can analyze and pick investments. We can take complex processes and break them down to less than 1 minute calculations and visuals. How do we do this? Excel. I have always been an avid user of excel. The charts, spreadsheets and other basic functions are immensely useful. But what few people know is that it has the power to do pretty much whatever you want. Through the use of Macros/VBAs, you can upload live data from he internet, have the data analyzed in the spreadsheet and see exactly what you need to see.

While these advanced uses may seem trivial, it is not just these functions that are useful. At Eastern all business students take an introductory course to Word, Excel and Access. Most blow it off. But the major advantage when going out into the world is in these Office product competitive advantages versus your peers. Businesses consistently look for savvy young individuals that can plug out an Excel sheet to show them what they want. Conditional formatting is HUGELY important for putting a visual to numbers. Utilizing simple formulas and pairing them with others, drastically reduces the time you need to spend doing the 'grunt work'.

The bottom line is that with a well-versed background in Excel, you become a great threat to others trying to get the job. Not only will you provide the company with a more efficient way to analyze their hoards of data, but you will make your first few years out a lot less 'number-intensive'. It took me years and studying beyond the classes that Eastern offered to get to my current level, but my level of expertise should not be yours. The first goal you should set for yourself is to learn the basics and actually listen to what your BUS 1950 professors say (EVEN THOUGH IT IS ONLY YOUR 1st OR 2nd SEMESTER IN).

My life is inexplicably easy (in terms of sifting through data) when all I have to do is click once and I automatically get over 2,000 correlations between 50 different stocks. But it took hard work to get there.

Two Simple Words

"One can pay back the loan of gold, but one dies forever in debt to those who are kind."
Malayan Proverb


Two simple words--thank you. Have you stopped to thank the people who have helped, or are helping, you along the way? How many times have you meant to say thank you for a kindness, but not followed through? Time gets away from all of us, but we need to recognize the people around us not just because it is good manners, but also because everyone likes to be appreciated, even if it is simply for doing their job. The positive feedback one receives from those two simple words can be immeasurable.

Over the years, I have found that one can say thank you in a variety of ways. For our staff at the Wealth Management firm I co-founded, Coldstream Capital Management, it might have been buying them a latte. Other times, I would buy a flower for each of them, both men and women, and leave on their desk before they arrived in the morning. The occasion? Because it was Tuesday! In other words, there was no reason other than to say, "I recognize your contributions and I appreciate them." Even though I retired two years ago, I still occasionally show up with flowers for them, most recently after the particularly grueling stock market problems. While I am no longer "in the trenches" with them, I remain a company shareholder and board member and believed it was important for them to know that their accomplishments in a trying time are recognized externally, as well as however they may be recognized internally.

As the old saying goes, it's nice to be important, but more important to be nice. Each year, large professional investors are called upon by Institutional Investor magazine to vote for the best analysts on Wall Street for their annual All-Star team. As the Bank of America Investment Management Health Care Analyst, I worked closed with several of "The Street" analysts and participated in the voting. We were large clients of the various firms and, thus, important clients. Occasionally, when I found that an analyst had been exceptionally helpful or was head and shoulders above everyone else in research and service, I would phone the appropriate Research Director to tell them I had voted for their analyst. In one instance, I said that we are all quick to criticize and complain when something goes wrong, but I think we should have that same duty to tell someone when something goes right. I told her that I had voted for three of their analysts and wanted to personally say I thought they were doing a good job. The response I got was, "You don't know how much this call means to me. I have had a week where every call I have gotten was to criticize. Your call reminds me that people recognize we are good and do many things right. You have made my week." Of course, I received a call not long after from the analysts who were thrilled to have their Research Director relate the story. Years later, when I was no longer a client, the analysts continued to provide me their research in a show of appreciation.

This marks the last of my posts for the EIU Business School blog as I turn the task over to others. Appropriately, I want to thank EIU Business School Chair Cheryl Noll for having the confidence to ask me to participate, Director of the Student Center for Academic & Professional Development Kathy Schmitz for her help and Dean Diane Hoadley for her continued support in my endeavors. The experience was rich and rewarding as I continue to explore ways to "give back" in the second phase of my life.

As the writer Gladys B. Stern said, "Silent gratitude isn't much use to anyone." So, whom are you thanking today?

What Is Your Destiny?

In Ann Rand's Atlas Shrugged, Francisco d'Anconia overheard someone comment that he was the typical product of money and money was the root of all evil. He responded by saying, "Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another by trade and give value for value."

"Have you ever looked for the root of production? Take a look at an electric generator and dare yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food my means of nothing but physical motions - and you'll learn that man's mind is the root of all the goods produced and all of the wealth that has ever existed on earth."

There are very vocal critics and champions of Ms. Rand's philosophy and, in a 1200 page book like Atlas Shrugged; one can use the words to portray either side of the argument. She basically says that money facilitates trade and wealth is a product of the mind. So, while I cherry picked a few quotes, I did so not with intent to dismiss the corruption, deception, greed and appalling behavior that penetrated society in the past few years. Instead, I did so because she hits upon some critical thinking about being in a work force, as well as in life itself.

Do you find yourself, as Pop Evil currently sings, "going 100 in a 55, and I don't know why I'm still alive." If so, you might be missing the big picture. What type of person will you be, or are you, in the work force? How have you prepared to live your life? Have you critically addressed your values? Do you have your priorities in the correct order? Rand's Francisco d'Anconia character went on to say, "Money will not purchase happiness for the man who has no concept of what he wants: money will not give him a code of values, if he's evaded the knowledge of what to value, and it will not provide him with a purpose, if he's evaded the choice of what to seek. Money will not buy intelligence for the fool, or admiration for the coward, or respect for the incompetent."

The lure of money can change the way many people approach life. As the events of the past few years have shown, that lure is sometimes for the good, sometimes for the bad as when greed overtakes rationality. But, if your belief system and values are well thought out, strong and pure then you have a blueprint to follow for a life that can eschew the evil portion of greed's siren song.

Mahatma Gandhi put it best when he said, "Your beliefs become your thoughts. Your thoughts become your words. Your words become your actions. Your actions become your habits. Your habits become your values. Your values become your destiny."

For me, it is hard to envision a better philosophy of life to follow. So, what is your destiny?

Humanity, And You, Will Prevail

William Faulkner won the 1949 Nobel Prize in Literature for The Sound and the Fury and As I Lay Dying. He considered himself not a man of letters but, as he once said, "I'm just a farmer who likes to tell stories." As the first American novelist to receive the Prize post-World War II, he was speaking during a time of a worldwide fear of atomic warfare and in his acceptance speech said, "Our tragedy today is a general and universal physcial fear so long sustained by now that we can even bear it. There are no longer problems of the spirit. There is only the question. When will I be blown up?"

William Safire wrote in Lend Me Your Ears: Great Speeches In History, "...(Faulkner) went to Stockholm and on December 10, 1950 gave a better short speech than most writers write and it proved you didn't have to be a nihilist to be taken seriously you could be affirmative and even optimistic and still be considered gutsy."

Faulkner further said in his speech, "I decline to accept the end of man. It is easy enough to say that man is immortal simply because he will endure: that when the last ding-dong of doom has clanged and faded from the last worthless rock hanging tideless in the last red and dying evening, that even then there will still be one more sound: that of his puny inexhaustible voice, still talking. I refuse to accept this. I believe that man will not merely endure: he will prevail. He is immortal, not because he alone among creatures has an inexhaustible voice, but because he has a soul, a spirit capable of compassion and sacrifice and endurance. The poet's, the writer's, duty is to write about these things. It is his privilege to help man endure by lifting his heart, by reminding him of the courage and honor and hope and pride and compassion and pity and sacrifice, which have been the glory of his past."

Much as Faulkner's words inspired a generation of writers, so should we take solace in them today as we look at where our future, both personally and from the country's standpoint, is headed. Yes, there is despair and a sense of tragedy in the country about our present day "atomic bomb," i.e. the economic collapse and its subsequent effect on job prospects. However, we live in a country that continually uses innovation to keep us at the forefront of societies around the world. I believe that we will, again, regain our luster as a country. Already, we see signs that the job market is picking up. The sharp rise in Temporary workers in the past several months can be viewed in the positive light that employers discovered they cut jobs too quickly and too much after the surprise Lehman bankruptcy last fall.

I believe the economy is now showing positive economic growth, which should be confirmed when GDP (Gross Domestic Product) numbers are released in coming weeks. The Unemployment Rate lags an economic upturn because as employers hire workers the rate of new workers coming into (or back into) the workforce also rises. Additionally, employers typically remain cautious during the early stages of an economic recovery, not wanting to put on permanent workers because they don't want to be faced with laying them off quickly. Yet, the employer needs workers and has to hire in some manner. So for reasons such as these, the rise in Temporary workers typically can be a signal that permanent job creation is near.

If you are entering the job pool, be persistent, keep a long-term perspective, set goals and keep your head up if you face disappointment. As Safire wrote about Faulkner, be affirmative and optimistic. And as you look around at what others might be doing, don't get discouraged if your outcome is different than them. Keep in mind the words that Faulkner also once wrote, "Always dream and shoot higher than you know you can do. Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself."

The Little Things Really Do Matter The Most!

Are you confused about what to put under your experience section of your resume? Not sure if you should include that fast food job you worked for only 6 months in high school? I am here to tell you that you should include these jobs even if you only worked there for a short time. You may not think it is important but think again. The experience you get from working in a fast food restaurant may be more than you think.

For example, I worked at Arby's Roast Beef Restaurant for 2 years when I was in high school. In those 2 years I learned a ton when it comes to running a business like a fast food franchise. I worked the front counter, the drive-thru, back line preparing the food, fry station, opening the store, closing the store, and clean-up. I worked every position except the management position. I gained a lot of experience by doing this. I learned about the fast food industry, I learned about inventory and how to count it, I learned how to process truck orders for the inventory, and much more. I truly believe the only way to learn is to have hands on experience. This job showed me how to go from clean-up to payroll. I have walked away from this job with skills such as; time management, team work, customer services, business ethics, communication skills, food preparation and the laws associated with them, and how the payroll process works. The importance of a clean atmosphere and how it affects the business is a huge process and there are laws that need to be followed. This is a great place to start a resume if you have worked in a fast food restaurant or any restaurant for that matter. I want you to think about what jobs you have worked and how much you gained from them. My life was turned around from this experience and without it I do not believe I would have made it this far. It changed my life and I am glad I had the opportunity to learn about this type of business.

I think employers appreciate it when they see that you have worked in a restaurant and realize the experience you gain from it. In an interview, they always ask behavior based questions and it seems when I answer them it all goes back to the experience from Arby's. Two important ideas I talk about when asked these questions is the process I used to help a customer who was angry and also what I did if there was a conflict between a co-worker/manager and me. You want to express how you handled those situations. Employers love it when you can answer those questions well and tell a story to back it up. One hint during the interview when asked a behavior based question is tell the employer the problem you faced, then talk about how you handled it and what steps you took to fix the situation, and finally tell them the outcome of the situation. They love this, trust me! It seems to work every time for me. Think about it and think how it will look on your resume. Think of how it is very easy to talk about that position you were in and what dilemmas you faced. I think it is an excellent resource and you not only build up experience but also your personality, your business knowledge, and your communication skills. I also would recommend going to Career Services to get help on your resume and even practice interviewing with real HR representatives.

The Epiphany Moment

The truTv show Black Gold details real life experiences of roughnecks on a West Texas oil rig. The safety on the rig is far from what most rig owners would tolerate, including having a camera crew on the rig floor. The constant bickering amongst the crew is a safety hazard in itself and the lack of help to "break out" a worm (new guy) is far from typical. The crew's constant partying before a work day is not a typical occurrence as it is dangerous enough to work the rig floor stone sober, let alone hung over.

While I believe the series is highly tilted and edited for drama by the TV producers, it does give a representation of life in "the oil patch." For me, it brings back many memories of when I was working my way through school as a student at Eastern Illinois University. I roughnecked on rigs in southern Illinois and south central Indiana for a couple of summers. In fact, I credit those days as a roughneck as being the key to my career in the investment business. Let me explain.

I was expected to pay the bulk of my way through college, either through work or getting scholarships. I was also working through a rotator cuff injury, but wanted to play professional baseball and school was not the most important thing in my life, at the time. The scholarship portion was easy coming out of high school, but much harder as I settled into college life. In those days I went from a serious high school student to a not-so-serious college student and getting additional scholarships became difficult. Thus, work became the more important part of my funding operation and pay in the oil patch was good compared to other alternatives I had at the time.

As there is on Black Gold, hazing was part of my indoctrination on the rig. In particular, being a "college boy" the crew knew I would be leaving for school after the summer. Consequently, I was a bigger target. Working "morning tower," from 11 PM to 7 AM, I was given all the jobs that meant staying awake all night while others were allowed to catch a catnap on slow shifts. One evening, the driller told me I could catch a nap, so I eagerly laid down on a hard metal bench in the doghouse (the place used to change clothes, store personal belongings, etc). Sound asleep, the next thing I knew someone yelled it was time to "make a trip." I jumped up and was immediately pulled back and slammed into metal as the crew had tied my pants to the ceiling and wall with wire. Another time, I was told to look behind me where I saw a rag someone had slipped in my pants and set on fire. Such is life for a worm! Anyone who went through a college fraternity initiation hazing knows a bit about those things.

"Throwing chain" (see picture) is part of what the floorhand does when "tripping pipe" i.e. wrapping a chain in a series of loops around the bottom pipe, attaching a new pipe, throwing the chain from the bottom pipe to the new top pipe while the driller uses the drillworks to pull the chain. That causes the new pipe to act like a spool and connects them. You have to keep the correct tension on the chain after you "throw" it so it can be drawn back by the driller to screw the pipes together. If you are holding the chain too loose or too tight, it can be dangerous both for the person throwing and the person working the tongs that are used to do the final tightening. If you have a driller who is in a hurry, you run the risk of having the chain jerked, which could pull you with it.

My epiphany moment came when I was throwing chain for a driller who was more concerned with time, or "making hole," than safety. When the driller jerked the chain, my glove came off with it and was ensnared between the chain and pipe. Fortunately, my fingers stayed intact, but I thought some of them were gone. Talk about career planning motivation! As I was counting the digits on my hands, I realized that if my baseball career was over (which it basically was), I wanted to "sit on my behind for a living!" I realized that I had gotten what I needed--the motivation to use my brain, instead of my body, in life.

In other words, as EIU President Bill Perry reminded me over the weekend, The Rolling Stones sang, "You can't always get what you want, but if you try sometime, well you might just find, that you get what you need."

Today, because of the many fingers and hands lost over the years, OSHA rules have replaced throwing chain on most rigs with a mechanical spinning device called a Kelly spinner to do the work, although Black Gold's Big Dog 28 still uses the chain. Who knows, had the Kelly spinner been used back in 1969, I might be working on a rig today instead of writing a business blog! Of course, as time played out, maybe the real epiphany should have been that I would be better off trying to own the rig versus working on it.

Have you had an epiphany moment about your career?