EIU Business Blog

Greetings from Maastricht!

2010-05-17T09:58:00.002-05:00

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)

2010-01-20T09:24:00.005-06:00

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

2009-10-22T10:19:00.006-05:00

"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?

2009-10-06T17:09:00.012-05:00

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

2009-09-30T14:40:00.001-05:00

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!

2009-09-23T11:36:00.009-05:00

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

2009-09-23T07:50:00.005-05:00

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?

Reinventing Yourself

2009-09-11T12:02:00.030-05:00

Are you having second thoughts about your chosen occupation? Should you consider reinventing yourself? History is replete with examples of reinvention.

On last week's new SyFy hit Warehouse 13, Fowler of the Regents said, "John Adams was a farmer. Abraham Lincoln was a small town lawyer. Plato and Socrates were teachers. Jesus was a carpenter. For one to equate wisdom with occupation is, at best, insulting." We should respect jobs as honorable work whether it is the company CEO or the company janitor. We should also respect that many people are comfortable being in one job, or field, all of their life. Indeed, as Fowler said, wisdom and occupation are not interchangeable. However, we do have examples above of people who have reinvented themselves from their original jobs to become the historic icons we know today. What did it take? Desire, dedication and talent!

In August, my wife and I were at the at Chateau Ste. Michelle Winery having a picnic, drinking great wine and watching Elvis Costello in concert. As I listened to him, I thought of how he had reinvented himself over the years. Who would have thought a British punk rocker would have musical success in genres of country, soul and, yes, even on a Fall Out Boy CD? He has co-written many popular jazz songs with his wife the incomparable Dianna Krall. He wrote a critically acclaimed full-orchestral work that is a ballet based on Shakespeare's "A Midsummer Night's Dream." On my I-Touch, his "Painted From Memory" CD with Burt Bacharach remains my favorite ballads playlist.

When I was the Bank of America Investment Health Care Analyst, I met Kevin Sharer. Kevin was a Naval Lt. Commander with a degree in aeronautical engineering but was too impatient to wait to become head of the submarine service. He left the Navy, joined AT&T and earned his MBA as a stepping stone to a high profile job at General Electric. Like many GE execs, Kevin went on to greater success in an entirely different field by joining Amgen in 1992 and becoming the biotech giant's CEO.

Babe Ruth was a Boston Red Sox star pitcher who held the World Series record for consecutive shutout innings pitched. When he was traded to the New York Yankees, his hitting talent took precedent. The Yankees reinvented him as an everyday player and he, in turn, reinvented the game of baseball as "The Sultan of Swat" by setting home run records for years to come.

Ronald Reagan was a sports broadcaster before he took up acting. His oratory and communication skills took him to the Governorship of California and Presidency of the United States.

Ben Stein was a poverty lawyer, a trial lawyer, an economist for The Commerce Department and a university adjunct for three colleges before becoming a well-known actor (Beuller? Beuller? Beuller?). Ben didn't stop at acting as he has become a successful TV pitchman, a screenwriter and a news columnist and a prolific writer of both fiction and non-fiction novels.

However, reinvention is fraught with risk and not always successful. Remember Garth Brooks becoming rock and roller Chris Gaines? How about Mariah Carey's movie "career" when she starred in "Glitter?" Did you study successful PepsiCo exec John Sculley's debacle at Apple? Lest we forget, five words: Michael Jordan, professional baseball player!

Often, reinvention comes out of despair or failure. One might simply be "Blowing in the Wind" working in a bad situation, so to take liberties with that Bob Dylan song, "How many roads must a man walk down, before he realizes he is lost?"

As an example, for the (probably three or four) St. Louis Cardinal fans out there, Rick Ankiel was a promising pitcher who suddenly and mysteriously lost pitch control. Facing failure as a pitcher, he reinvented himself as an outfielder. That meant demotion to the minors to learn his new craft. Through hard work, dedication, desire and talent, Ankiel returned to "The Show" with daredevil fielding, timely hitting and a story that is now the stuff of legends.

As a caveat, you could become burned out in your job, even though you do not want to leave it. It can become a struggle to survive. Yet, the best move may not be reinvention. It could be you just need to be patient and get through the rough patch. The French scientist George-Louis Leclerc de Buffon said, "Genius is nothing but a great aptitude for patience." In effect, the best move could be no move at all.

Do you need to reinvent yourself? Will you reinvent yourself if the situation calls for it? Are you content to be in a long-term niche? Or are you the one who is always looking for a new challenge, even though it means crossing over to a new field? Is your college major the appropriate one for you? Do you need additional schooling? Did you not get the promotion you wanted? Did economic weakness turn your dream job into vaporware? All of these could be questions you face in the coming years.

How can you start to reinvent yourself? Take a true assessment of your talents. Know what your skillsets are. Assess where your skillsets are strong and where they are deficient. If you need more education, then build it into your plan. Stay in touch with your contacts. Network. Find mentors. Ask yourself what type of job is the most satisfying and which is the most rewarding? Satisfying and rewarding may not be the same. What drives you--money, ego? Have a gameplan. Stay focused on the big picture. Be patient in making the decision to reinvent yourself and, if you decide to reinvent, take a longer-term view in doing so.

Above all, reinvention will require a considerable amount of self-reflection in your life. Are you prepared to handle candid, critical self-reflection?

Who Will You Be?

2009-09-09T11:48:00.021-05:00

"You and I travel to the beat of a different drum

Oh can't you tell by the way I run
Every time you make eyes at me
Wo-oh

You cry and moan and say it will work out
But honey child I've got my doubts
You can't see the forest for the trees"

Sock-hatted Mike Nesmith wrote and recorded "Different Drum" before he joined The Monkees. However, the song didn't become a hit until 1967 when it was covered by The Stone Poneys, a three person folk rock group consisting of group leader and founding member Bob Kimmel, founding member Ken Edwards and lead singer Linda Ronstadt. Yet, Ronstadt's soaring vocals, particularly on "Different Drum" eventually led to the band's breakup and launched her long, storied career.

Kenny "Babyface" Edmonds is a great talent who occasionally sings on a record that gets some acclaim, but is a solid hitmaker as a producer and writer for others. Yet, when he is teaming with Antonio "LA" Reid, they are one of the most successful song writing and producing teams in history.

While recently driving my 5 1/2 year old granddaughter and 2 1/2 year old twin granddaughters to swim lessons, I put on a Taylor Swift CD. When "You Belong To Me" came on, the three girls were singing out the lyrics at the top of their lungs--talk about transcending generations and mass appeal! As a country/pop crossover star, Taylor Swift writes, sings and produces her own music. She leaves nothing to chance because she has the talent to do it all, but she is also hardwired that way.

Are you the band frontman or one of the sidemen? Do you write the song, do you sing it or do you do both? Do you work best alone or as part of a team? How are you hardwired in delegating duties? What will happen if you form the band (i.e. have an idea) but get left behind? Can you handle defeat? Can you handle success? Can you crossover to another genre in life? Are you the "triple-threat" who can do it all or do you fit in a niche?

Who you are today may bear no resemblance to the person you will become. You are on a great adventure to discover that person. Some of you may know now where you are headed but, more than likely, the vast majority of you do not.

If you can sing, you can sing--so do it! If you can't sing, be the producer, be the sideman, be a roadie but be with the band because life is not for spectators! However, for those of you who really do "travel to the beat of a different drum," follow that drum to see where it leads.

Your journey will in all probability have its ups and downs, with maybe a disproportionate share of downs. There will, indeed, be times "you can't see the forest for the trees" and need someone to lean on. Choose those shoulders wisely as the doubters and naysayers will be all around, but sometimes they will be correct.

What happened to the two other founding members of The Stone Poneys? Over the years, Ken Edwards became a noted producer, reteaming in the mid-1970's with Linda Ronstadt as a sideman, arranger and touring member. Bob Kimmel faded somewhat, but in 2007 had a new band called BK Special. Ronstadt sang harmony on one of their songs, 40 years after recording "Different Drum" and the subsequent band breakup. So through your life, keep in mind one distinct lesson from the saga of The Stone Poneys--be nice to the people you meet on the way up, as they could well be the same people you meet on the way down.

Yet, for now, remember that Linda further sang:

"All I'm saying is I'm not ready

For any person, place or thing

To try and pull the reins in on me."

There may be no better motto to have as you explore your life to discover the person you will become!

"Mamas, Don't Let Your Babies Grow Up To Be Cowboys"

2009-09-04T13:02:00.013-05:00

A few years ago, Willie Nelson gave us the following advice as he crooned a Waylon Jennings song:

"Mamas, don't let your babies grow up to be cowboys.
Don't let 'em pick guitars or drive them old trucks.
Let 'em be doctors and lawyers and such."

Now I have nothing against being a doctor or lawyer or such, particularly since I was a "such" with my investment career. But, I have to say, take a chill pill, Will! America has been made great by cowboys whether that cowboy was the real life Jesse Chisholm marking the Chisholm Trail or John Wayne as Thomas Dunson in "Red River" following that same Chisholm Trail. Cowboys are a part of America's trailblazing heritage and not everyone is suited for a corporate, or structured, work life. In present day, our trailblazing cowboys include people like Microsoft's Bill Gates, Nike's Phil Knight or Build-A-Bear Workshop's Maxine Clark. These modern cowboys dared go in a different direction and, to paraphrase Robert Frost, "took the road less traveled."

Another trailblazing cowboy is my friend Howard Schultz, who turned sitting in an Italian coffeeshop from his epiphany moment to unlocking the romance and mystery of coffee via Starbucks. In his book "Pour Your Heart Into It," Howard wrote, "...I want to inspire people to pursue their dreams. I come from common roots, with no silver spoon, no pedigree, no early mentors. I dared to dream big dreams, and then I willed them to happen. I'm convinced that most people can achieve their dreams and beyond if they have the determination to keep trying."

Certainly, failure can, and does happen. But, dreams and ideas are what have separated America as the leader in entrepreneurship and innovation. Challenges are there, but for those who dare to dream, so can be the rewards.

So, if you have a dream and the spirit moves you, "Cowboy Up" then blaze away!

"Yes, but will it work in theory?"

2009-08-27T17:13:00.013-05:00

Retired Lockheed Martin Chairman and CEO (and former Under Secretary of the Army) Norman Augustine was honored in 1996 by The George W. Woodruff School of Mechanical Engineering and spoke to the Georgia Tech Community. His speech was titled, "Yes, but will it work in theory?" By that, he meant that engineers face tough, real-world challenges that are not terribly elegant nor lend themselves to theoretical solutions. In other words, it might work in practice, but if it does not work in theory how do you prove it out? Mr. Augustine elaborated, "These are the lessons that you don't get from parchment degrees. They are not lessons of great philosophical value. They are the lessons of scar tissue, the lessons of experience."

When you start working for a company, you find out how much you do not know. As Michael Franti sings in Say Hey, "It seems like everywhere I go, The more I see the less I know." That summarizes why many times in an interview you will hear that the company is looking for experience. But, how do you get experience if no one will hire you? How do you develop "the lessons of scar tissue?" That, indeed, is the classic dilemma!

Building your skill set is, normally, not a short-term task. You have to take the long view. Consequently, just getting your foot in the door can be one of the best ways to start your career. The job itself may not necessarily the most overriding aspect of being there. Whatever the job, it gives the employer an opportunity to evaluate how you approach your work life and your decision making capabilities. More importantly, with your foot in the door, you have an opportunity to make contacts that were probably beyond your purview before. Those contacts can potentially help you move your career forward either at that organization or another organization.

To gain experience, many times you have to think outside the box to get to your goal. For example, if you want to get into the investment field, but have no experience, you might try becoming a credit analyst at a bank to develop analytical skill sets. Some of the best Wall Street analysts I have known over the years did not graduate with a Finance degree. Instead, they came out of industry such as a pharmacist becoming the Institutional Investor (II) All-Star Drug Company Analyst and an oil company employee becoming the II All-Star Oil Analyst. Many of the Wall Street economists I knew had previously worked in number-crunching jobs for the Federal Reserve Bank. These analysts and economists utilized their background experiences to develop skill sets that allowed them to move their career to a different level.

The French author and philosopher Albert Camus wrote, "You cannot create experience, you undergo it." So, think outside the box then get out there and experience!

The Opportunity Ball

2009-08-18T14:19:00.009-05:00

Last December, I was honored to be the Eastern Illinois University commencement speaker for fall graduation. Lumpkin School of Business & Applied Sciences Dean Diane Hoadley had asked me to relay some of my life/work experiences, which led to my success. As a tip of the hat to my career in the investment business, my talk was about how I learned to "Invest in Myself." With all the pressures that students face today as they prepare to join the work force full-time, I think one of the speech's points might be particularly useful to share.

"A few years ago, my friend Kirk Gibson and I were talking about how baseball and the investment business were similar. Kirk was the 1988 National League MVP and hit possibly the most dramatic home run in World Series history. Gibby said when you hit a home run, celebrate it, but don’t get carried away as, inevitably, you are going to strike out and when you strike out, you can’t get too depressed because another at-bat is coming. Such is the case with investing in stocks and, I daresay, the same is true with life. Celebrate the home run, feel bad about the strike out, but then let it go and move on. But remember, you have to take some swings if you want to get on base. So, if the right opportunity ball comes at you, be ready to take a rip at it even if you risk a strike out. But if you do strike out, learn from the experience."

You don't have to swing at every pitch that comes your way, however, in a tough economic time opportunity balls tend to come at a very, very slow pace. But, ask yourself, "How ready am I to swing at the opportunity ball when it gets thrown?"

If you don't have an answer or think you are inadequately prepared, seek out help from the EIU faculty or find a mentor to help you further develop your skill set. Put another way; improve your swing, and your ability to hit the opportunity ball. You might have to adapt to the changing realities of the world. In other words, the dream job might not be there. Yet, that does not preclude you being successful or finding work you find rewarding and meaningful.

Like beauty, though, success is in the eyes of the beholder. Quite frankly, while I had what most would say was a "successful" investment career, my definition of success is measured by my family and personal life. My work was fulfilling and I loved my vocation but, ultimately, it was a means to an end. As I wrote in the last economic/investment strategy piece I authored before retirement from the wealth advisory firm I co-founded, "I have worked for my wallet all my life, now it is time to work for my soul."

So start thinking about what success really means to you and from where the opportunity balls might come for fulfillment. Then, prepare to swing away!

New Blogger Intro

2009-08-13T15:24:00.005-05:00

My name is Don Gher and Dr. Cheryl Noll, Chair of the EIU School of Business, asked if I would contribute to the EIU Business Blog. Being a proud alum (B.S. in Business, Marketing, Class of 1973), I immediately agreed to help. We will categorize the next few weeks as a "work in progress," in regards subject matter, to get started. Initially, some background on me is in order.

Until my June 2007 retirement, the majority of my career was in the investment business. I started at the Springfield (Illinois) Marine Bank and ended there as head of the investment department before moving to various other spots in the world. In my career, I have help manage two of the largest public fund portfolios in the country, was the Bank of America Health Care Analyst, portfolio manager for one of the top performing equity funds in the country and set up, as well as managed, a Wall Street firm's Tokyo office. In April 1996, I was co-founder of what was to become a billion dollar plus Wealth Advisory firm, Coldstream Capital Management in Bellevue, Washington. While at Coldstream, I was Chief Investment Officer and Managing Director, which led to frequent appearances on CNBC, Bloomberg TV, Bloomberg Radio, as well as being quoted in hundreds of newspapers and magazines around the world. My EIU Business degree in Marketing stretched a long way!

Despite being in the Seattle area, I have remained connected to EIU and "bleed blue" having served on the School of Business Advisory Board, the Alumni Association Board and, currently, on the Foundation Board as Treasurer and Investment Chair. In 2003, the EIU School of Business honored me as Distinguished Alumnus as did the Alumni Association in 2007. Last December, I was commencement speaker for EIU's fall graduation. When I return for board meetings, I have always tried to spend time speaking to various business classes, something I hope to do again in October. My wife of 35 years, Mary (Hartke), is a 1973 education grad who taught special education for several years. Since we met on campus, we feel a strong affection for EIU and, among other things, have a scholarship there for students from our hometowns.

While I will try to post useful blogs about the world of business, please feel free to submit questions on other subjects that I can, at least, attempt to answer.

Walt Disney Internship

2009-06-18T19:58:00.003-05:00

There are actually three separate internships with the Walt Disney Company. The first two are called the Disney College Program and are based either at Walt Disney World in Orlando or Walt Disney Land in California. They are the same program just in different parks and the details of each program are slightly different. The third of the internships offered through the Disney Company is a Professional internship. All three programs are paid internships.

The College Program specifically offers some unique experiences verses other internship programs. As with any internship this program will get your foot in the door with a multi-national and well established company providing numerous opportunities for networking, meeting different students from all over the world, as well as career exploration. It is paid, as well as offers housing and some pretty sweet benefits such as free admission to the parks for yourself and a few friends. The Company also provides free transportation to and from the parks as well as a few different locations in the area such as to Wal-Mart or another grocery store but having your own vehicle is allowed as well. It is a full time position but you have a 5 day week with 2 days off to do whatever you would like whether that is laying by the pool, going into the parks with friends and family, or utilizing other utilities the company provides for you.

In regards to the different positions the Program has to offer there is a wide range covering almost all majors. I initially was a hostess at a full service restaurant and then picked up a second position dealing with the restaurant deposits and the safe in the restaurant. It was a lot of responsibility but a learning experience as well. It's not a program I would recommend to everyone, not everyone is cut out for the same experience. However, it is definitely worth looking into and a wonderful experience with a very diverse company.

If you have further questions please post them below in a response and I will add more detail as to what you are interested in.

Study Abroad Group Returns Home

2009-06-18T09:52:00.010-05:00

"June 10 Professors Boggs and Davis returned to the Chircago airport with the 17 EIU students who spent the previous studying in Europe. Dr. Davis returned fom Brussels with student Jackie Alexander (who had to obtain a new passport due to leaving hers in Spain) and Dr. Boggs returned from Rome with the 16 other students. Jackie did not get to travel to Italy, and she was greatly missed by her classmates and professors.

Thankfully, despite being tired, everyone returned to the USA in good spirits, good health, and on time. Sadly, the same cannot be said about everyone's luggage! Despite a long layover in Detroit, Dr. Boggs' and about seven students' luggage did not make it to Chicago after the group changed planes. A few simple, but valuable lessons one might take from these experiences are to: (1) make copies of important documents, and (2) put a toothbrush, change of clothes, and anything important in your carry-on luggage when traveling across borders.

Overall, the study abroad program was a great success! A valuable learning experience and fun time was had by all. Now, to finish the papers and grading... "

Dr. David Boggs

Study abroad students gather at the Trevi Fountain in Rome after a weekend of travel.

The girls with roses at the farewell dinner in Rome (Samantha is holding a rose for Jackie).

Get LinkedIn or Be LockedOut

2009-06-05T11:45:00.003-05:00

A revolutionary new way of connecting with professionals and scanning the job market has remained almost completely unheard of in the student community at EIU. This networking tool is known as LinkedIn. This site can be thought of as similar to Facebook, but caters to the developing and seasoned professional alike. The setup is easy and free. You create a profile, add a pic if you want, and display your accomplishments to-date. Only a student with not much experience? It doesn't matter, other professional on the site often like to scan the up-and-coming graduates for internships or even job placements.

I have used LinkedIn since it first came out (early 2006) and I cannot count the number of new people I met that I am now close friends with, business connections made and job offers given to me. There is really no reason someone should not create a profile, simply due to the fact that it is free and if you do not wish to update or create a full-blown profile, you don't have to. You can search for professionals in 'like' fields, join relevant groups in your area or out and be advised to additional networking events that are coming up.

As the pun in the title suggests, its only to your advantage to start utilizing free resources available, like LinkedIn, or else be left out of the loop.

Paris, France

2009-06-02T15:04:00.016-05:00

Disneyland, Paris!!

Eiffel Tower

She's still there!!

Copy Cat version for the French

And what trip to Paris from Holland would be complete without a crepe and a beer?!

D.J. and Marcus

Barcelona, Spain

2009-06-02T14:47:00.006-05:00

Hola! We arrived in Barcelona in one piece! We “trained” it from Maastricht to Charleroi and then we took a shuttle bus to the airport. We had to take a taxi from the airport to our hostel because we couldn’t figure out the bus system. When we got to our hostel we had to walk up the longest path up the steepest hill that we have encountered on this trip. Since we were all exhausted this trek did not help much. When we got in, the front desk, in this beautiful looking hostel, helped us a lot. We thought that we got lucky and booked the fanciest hostel that Spain had to offer, but we were wrong. They did not let any noise occur after 10 pm, but let children scream and run around at 6:30 in the morning.

The first night in Barcelona was one to remember. We went down the famous Las Rambalas Street only to find that it was covered with prostitutes and drug dealers after midnight. We thought that since Barcelona just won the European Cup that it would be the most exciting place in Europe, but it was sadly disappointed.

Things changed the next day, when we went on a walking tour of the city. We got to see how the city cleaned up a lot before they hosted the Olympics in 1992, and the place where Pablo Picasso was discovered. All of us were very surprised by how Barcelona had turned into such a fascinating destination.

After the tour we felt like relaxing so we all headed to the beach! This beach was not like any beach that we have ever been to because every 10 seconds someone is coming up to you trying to sell you beer, massages, flowers, or fruit. At first we found it convenient, but after awhile when you are trying to just lay down, it becomes annoying. After a day at the beach (Ryan it is time to get up now) and a nice dinner by the Mediterranean Sea, we were all ready to hit the hay.

The next day our group went home on a later flight that came in late and we missed the last train back to Maastricht. That night instead of being intelligent and getting a hostel to stay in, we decided to live like bums and stay the night in the train station. For most of us this seemed very uncomfortable, but we learned that we can survive and it gives us a great story to tell our friends. The next morning we came home, and thought that Barcelona was a fun city that was different culturally than any other place that we have been to.

PS. Mom, now we can cook!

Jackie, Sarah, Brenton, Jim, Ryan, Taisha, Jen, Basia, Jerelliah, Kyrie

Amsterdam

2009-06-02T14:36:00.004-05:00

Our first impression of the city of Amsterdam came from the kindness of one of its citizen, who offered her guidance when we were looking at the map and trying to figure out where to go. We were both amazed at the kindness of the people and how eager they were to help even when help was not requested.

After we got situated, our first stop was at the Heineken Brewery where we went on a tour of the facilities and got a presentation on how the company was developed, what goes into the brewing processes, the companies focus on marketing, and the core values of the company, which include respect, enjoyment, and passion for quality.

Our next stop was at the canals where we took a boat tour of the city. We got a a good view of the city and understanding its history.

The following day, before we left, we went to the Rijks museums. The Rijks museum is located in a beautiful 1863 building called the Cuypers' building. Within the building the museum contains a large collection of Asian art, and the largest collection of Dutch art from the Golden Age including: Jacob van Ruysdael, Frans Hals, Johannes Vermeer and Rembrandt.

Jesse Burtron & Mark Logunetz

Greetings from Maastricht!

2009-05-28T08:40:00.007-05:00

"A group of students reporting to class about their weekend in Berlin

(below is their blog entry)."

"A reason anyone might avoid going to a foreign country could be the confusion of traveling. Luckily, the people of Germany do speak English normally, but some Germans might require one to speak English slowly. One interesting thing that occurred is that they seemed to understand members of our group from Chicago easier than they did one of our members from southern Illinois when talking in English. The German residents are very willing to help with a tourist locating the right train when arriving and leaving Germany; twice residents went out of their way to make sure we reached our destination. Most likely, if an American just strike up a conversation with a local, and asks for help, they will receive it.

If one is expecting a place filled with old buildings in Berlin, they will soon learn that Berlin has many modern buildings, built since the destruction that took place during World War II. Also, despite all of the evidence against socialism from an economic standpoint present in Berlin’s history, surprisingly, some people still support it. While our group was in Berlin we were invited to a socialist picnic, a socialist bar, and came across people that were still protesting Berlin being united after the fall of The Berlin Wall. The reasons why they still support socialism we did not learn. One very nice thing about Berlin is that it not only has so many historical sites, but also the place in general is relatively cheap!

An observation of not only Germany’s culture, but also much of Europe is that Europeans seem to take their dogs a lot more places than Americans do. In Germany, and some other places in Europe it is not unusual to see an owner with his or her dog off its leash, or even a dog in a retail store. The dogs are also very well behaved. In America when some owners are walking their dogs they can have a hard time controlling them. The dogs in America seem to like to investigate things more when being taken for a walk, but in Germany the dogs were all very well behaved.

Overall, Germany has many historical sites, cheap food, and people who are very friendly to American tourists. Our group would definitely recommend Germany!"

Julianna, Kyrie, Jesse, Brenton, Mark, and Ryan

"Marc Croijmans, Maastricht City Official responsible for attracting business to Maastricht, along with Hank and David, after he gave a talk to students about international business in Maastricht."

"Four students (Stavroula, Brenton, Jim, and Mark) during a tour of Brussels"

Week 2: Bon Jour Paris!

2009-05-26T11:52:00.013-05:00

"As we pulled into Gare du Nord on Thursday we already felt a whole lot more accomplished than last weekend…we made it to our destination!!! The City of Lights…Ile de Cite…Paris…where romance (and B.O. *coughs*) is in the air. Next step, make it to the hostel. This neighborhood is definitely NOT in the tour books. After navigating the Metro (another big accomplishment) we found ourselves in one of the poorer districts of Paris. And our hostel room, well it was more like a jail cell…the room was so small and the bunks were supported on cardboard. It was still light out when we arrived so we felt safe enough to walk around a bit. What a wake up call…there were signs of poverty everywhere. That night we went to bed wondering where is the Paris from the movies. The one bright spot could be seen from our tiny hostel room window. The Eiffel Tower was starting to light up across town and gave us hope for what we would see the next day."

"Our Bunks"

"Friday we got up and headed to the Louvre. We saw the classics, the Mona Lisa, the Venus de Milo and beautiful ceiling work throughout the museum. Afterwards, we took a 3 ½ walking tour for FREE with Jack the Englishman that took us around to most of the major sites in Paris. We saw L’Opera Garnier, La Tour Eiffel, L’arc de triomphe de l’Etoile, La Basilique du Sacre-Coeur, La Cathedrale Notre-Dame, Le muse d’Orsay and many other statues and art pieces around the city. "

"Roula @ the Louvre"

"Jerelliah with the Obelisk of Luxor"

"It was a great tour, but by the end of it, we felt like our feet would fall off. That afternoon as we searched for a Jazz Festival we found a great shopping district in St. Germaine. Unfortunately, Prada, D&G, Roberto Cavalli, and Yves Saint Laurent are a little too rich for our blood so we just enjoyed some window shopping."

"All of us @ Theater Festival (St. Sulpice Cathedral)"

"That evening we headed to the Eiffel Tower to see it light up. While we waited for sunset we perfected the Parisian art of people watching. We saw lovers and friends enjoying picnics under the base, street vendors selling souvenirs, joggers running through the park and a homeless man harassing them all. About 22:00 our trip to France was set off as we watched the Eiffel Tower light the night sky. What an amazing sight!"

" The Eiffel Tower up close @ night"

"We made it to Paris and back to Maastricht in one piece. Everyday our travel skills are getting stronger. What’s even more impressive is that all of our belongings made it back too!"

"There were signs like this one everywhere in Paris!"

Amsterdam

2009-05-26T09:11:00.020-05:00

"Amsterdam was an amazing city to visit. The entire city was filled with people, coming and going as they pleased. The busyness and human traffic resembled that of large American cities such as Chicago and New York City. It was amazing to see so much diversity in one place. The tour of the Heineken Brewery was a great experience from beginning to end. We learned many interesting facts about how the company began, and we got to sample some of the best tasting beer we have ever had. Even non-beer drinkers might enjoy an ice cold Heineken straight from this factory. "

DJ Hale & Marcus Butler

"Old School Beer Containers"

"Old School Barley Grinder"

"Heineken Horse Carriage"

"Keg Carriers"

EIU Business Majors Study Abroad in Maastricht

2009-05-19T08:41:00.007-05:00

This is the first of a series of posts from our 2009 faculty-lead study abroad trip to Maastricht. Dr. David Boggs and Dr. Hank Davis will be emailing pictures and updates throughout the trip.

"Hi! I'm very rushed. We're off to Caterpillar today. Things are going well (except internet access is spotty). Students have been to Ireland, Paris, Amsterdam, Rotterdam, and more. "

Dr. David Boggs

Academic Credit for Internship

2009-05-01T11:20:00.003-05:00

Have you considered the possibility of earning academic credit for your summer internship? All business majors have the opportunity to earn elective credit hours for an internship. Most business majors can earn credit in the major for an internship. Learn more at www.eiu.edu/~business/studentcenter/studentguideinternships.php.

Tips for Transfer Students

2009-04-30T10:48:00.006-05:00

As a transfer student attending EIU for the first time fall semester 2009 you will have many exciting new opportunities awaiting you.

Take full advantage of the many resources available to you on campus. Doing so will help you accomplish your goals and realize your dreams.

For those of you coming in as juniors, attending the fall Career Fair on September 23 is a must. Advance preparation will increase your confidence as you network with employers. Career Services will be offering workshops on resume writing, interview skills, mock interviews, and many more during the first few weeks of class. The first Saturday in the semester you can take advantage of one of the best deals on campus by attending the Career Bootcamp offered by Career Services. The charge for attending is minimal, and you get a lot of "bang for your buck". This event will help you prepare for Career Fair and for your search for that summer internship.

Get involved! Join a business student organization. Each major has at least one student organization geared specifically toward students within the major. Some examples: Beta Alpha Psi for accounting majors, Financial Management Association for finance majors, Association of Information Technology Professionals for MIS majors, the American Marketing Association for marketing majors, and the Society of Human Resourse Management for management majors. There are others, but I won't take the time or space here to mention them. Joining one of these organizations will help you meet others with common interests, and make friends. Another option is the Student Ambassador group. If you have a minimum g.p.a. of 3.0 and the desire to get involved this may be the group for you. To learn more about it, and pick up an application stop by the Student Center in Lumpkin Hall.

The faculty and staff at EIU are here to help you. Get to know your professors. Stop by to see them during office hours. Get to know your advisors. You don't have to wait until preregistration advising to meet your advisor. Stop by the Student Center and get to know the staff. We are here to help you achieve your goals academically and professionally.