Monday, July 28, 2008

A Message from Dean Salvatore F. Sodano


The inaugural issue of the Frank G. Zarb School of Business e-Newsletter was greeted with an enthusiastic response. Widely distributed to more than 11,000 recipients, this newsletter updates students, faculty, alumni, business school deans, and professionals on the Zarb School's wealth of activities and accomplishments.

I'd like to take a few moments to review the exciting developments of the spring semester as we look ahead to another dynamic academic year at the Zarb School.

  • The success of our business school very much depends on the active support of our alumni. During my first two years as dean, I have traveled across the country to meet with many Zarb alumni. Their message to me was clear: They are interested in what is happening at the Zarb School, and they would like to help. In response, we took a look at how we can strengthen the network. It gives me great pleasure to announce that Edward G. Watson (M.B.A., '89) has graciously agreed to serve as president of the Zarb School Alumni Association, a cohesive and comprehensive group that will now represent all Zarb undergraduate, M.B.A. and E.M.B.A. alumni. It is of utmost important to this new organization to enhance the national reputation of the Zarb School and expand networking and professional development opportunities for our alumni and students.

    Ed comes well prepared to assume this leadership role: As the former worldwide head of capital markets and private client operations at Citigroup Global Markets Inc., he has a wealth of experience in financial services and has been a very supportive Zarb School alumnus. Ed shares his thoughts with fellow alumni in a letter (click on Message from the Zarb Alumni President). The Zarb School would like to thank Ed Fred (E.M.B.A., '02), Howard Kahn (M.B.A., '83) and Jason McKenna (B.B.A., '96), who previously headed the individual alumni associations and commend them for their leadership and dedication to their alma mater. Our sincere appreciation also goes out to Sally Anne Ballweg (B.S., '78; M.B.A., '83) and Larry Waldman (M.B.A., '74), who were instrumental in founding a Hofstra business alumni association. All these individuals continue to be active alumni.

  • Expanding networking opportunities for our alumni and students is a top priority. This semester, significant progress was made in this critical area. In April the Zarb School hosted a cocktail reception for approximately 115 Hofstra alumni currently employed at Goldman Sachs. Attended by a diverse group of Goldman professionals - from managing directors to Hofstra summer interns - the evening was a tremendous success. Other Zarb School alumni networking groups are in the formation stages at other financial institutions, including some of the major accounting firms where many Hofstra alumni are employed. More than 520 Hofstra alumni are among the ranks of the top eight accounting firms, and 76 of our new graduates were hired in 2007 alone.

    In May the Fourth Annual Hofstra University Alumni Networking Reception was held at Lehman Brothers. The event was hosted by Hofstra President Stuart Rabinowitz and Joe Gregory of Lehman Brothers, who is a Zarb School alumnus and vice chair of Hofstra's Board of Trustees. More than 200 alumni, friends and students gathered at the company's headquarters to network and hear remarks from renowned broadcaster Bob Costas and Mike Eruzione, captain of the 1980 Gold Medal-winning U.S. Olympic hockey team.

  • The achievements of Zarb students continue to be widely recognized outside the Hofstra community. This semester, our students placed in prestigious competitions sponsored by the New York Mercantile Exchange, the American Advertising Federation and the National Association of Black Accountants. In addition, a team of Zarb M.B.A. students competed against students from other top business schools in the New York Society of Security Analysts Investment Challenge. For a review of these accomplishments, as well as others, click on Accomplishments of our Students and Faculty.

  • The Zarb faculty continues their commitment to excellence in scholarly research. At the 2008 Northeast Decision Sciences Institute Meeting, professors and graduate students from our Information Technology and Management Departments won three of the four Best Paper Awards out of more than 150 entries. Their accomplishments are reviewed in Accomplishments of our Students and Faculty.

  • Despite the challenges presented by a difficult job market, our graduating students continue to secure enviable positions in business. These youngest alumni are an important resource to our school, and we have highlighted their viewpoints. (Click on Newest Zarb Alumni Speak Out).

  • The Zarb School, through our Career Services, Merrill Lynch Center and the University's Breslin Center for Real Estate Studies, among others, continues to attract leading academics and business leaders to our campus, enlightening our students, faculty and guests on topics of crucial significance to the global business community. These events, including the Merrill Lynch Center's conference "Stock Exchange Competition and International Listings" and the Breslin Center's conference "Subprime Markets: Crisis or Opportunity?" are reviewed in Highlights from Recent Events. The important topic of diversity was also addressed at Hofstra University at a lecture given by Anne Erni, chief diversity officer at Lehman Brothers. In June the Zarb School co-hosted a panel on The Future of Health Care with the Long Island Association.

  • The fall 2008 semester will be especially exciting at Hofstra, as our university hosts the third and final presidential debate. As part of the University's Educate '08 series, a yearlong, comprehensive program of conferences, events and lectures tied to the presidential election, the Zarb School will present a panel titled "Economic Issues Facing the Presidency" featuring former U.S. Treasury Secretaries Paul O'Neill and Robert Rubin. Floyd Norris, chief financial correspondent of The New York Times and The International Herald Tribune, will act as moderator of the discussion. As with all Educate '08 events, there will a student question and answer session as part of the program.

Thank you for your interest in the Zarb School of Business. We continue to welcome comments and suggestions on all our endeavors, including this e-newsletter.

A Message from the Zarb Alumni President

Ed Watson

Edward G. Watson (M.B.A., '89)

Dear Fellow Graduates:

I am extremely honored and humbled to represent you and the 30,000 alumni worldwide as president of the newly reorganized Zarb School of Business Alumni Association. I am committed to establishing an exceptional alumni group that can be beneficial to our graduates and provide a network for career advancement, educational forums on topical business issues, and social opportunities. This organization can also assist our alma mater by offering internships and entry-level positions to students; establishing a career-based mentoring system where alumni can provide guidance; serving as a sounding board for practical curriculum advisement; and leading the way for fund-raising initiatives.

We are in the process of forming an ambitious agenda for the months ahead and need your help. Below is a list of committees that we have formed. Please consider joining one of these groups and becoming active in your alma mater by contacting Stacey Goldyn-Moller, director of alumni programs, via e-mail.

  • Career Networking and Advisement Committee - Strategize, plan and implement both alumni/alumni and alumni/student networking and mentor activities.

  • Leadership Committee - Network, identify and reach out to potential Zarb alumni leaders.

  • Fund-Raising and Scholarship Committee - Strategize, plan and implement activities that will raise funds to benefit the Zarb School of Business and its scholarships.

  • Communications Committee - Create, plan and implement innovative ways to reach out to Zarb alumni and students.

  • Events and Regional Planning Committee - Plan and implement social- and career-based activities for alumni both within and beyond the local region.

Dean Sodano has assembled an exceptional team committed to making this association a success. These individuals are dedicated to advancing the overall mission of the Zarb School. Their names and affiliations appear below, and they welcome your suggestions (click on name to email). I encourage you to become involved and help me make the Zarb School one of the premier institutions of business education in the country.

  • Gioia Bales, Acting Assistant Dean, Zarb School

  • Fred Burke, Executive Director of Career Services, The Career Center

  • Barbara Church-Kattan, Director of Graduate Business Career Services, The Career Center

  • Stacey Goldyn-Moller, Director of Alumni Relations, Office for Development and Alumni Affairs

  • Lis Rerecich, Administrative Assistant, Office for Development and Alumni Affairs

  • Ben Vogt, Senior Director for Major Gifts, Office for Development and Alumni Affairs

This is our alumni association, and our success depends on your participation. With your help, I believe that this group can offer tremendous opportunities to all Zarb School graduates and will ultimately benefit our alma mater.

Thank you for your consideration. I look forward to meeting you in the near future.


Ed Watson

(M.B.A., '89)

Accomplishments of Our Students and Faculty

The winning Zarb School team at the NYMEX

The winning Zarb School team at the NYMEX with faculty adviser Prof. Ahmet Karagozoglu, (front row; 4th from right)

Zarb Students Take Second Place in NYMEX Commodities Challenge

In April a team of Zarb students took second place in the national New York Mercantile Exchange (NYMEX) Commodities Challenge after competing against 25 teams from 20 colleges. The challenge consisted of a two-month-long team electronic trading competition and "open outcry" individual competitions held at the NYMEX trading floor in New York.

Hofstra's electronic trading team consisted of finance M.B.A. students Tansel Alan, Jessie Chen, Kay Hung, Steven Monti, Ronak Shah and Swapnil Shah. Ahmet Karagozoglu, associate professor of finance, was the faculty supervisor for the Hofstra team. The students competed against teams from colleges and universities that included Brown, Columbia, George Washington, Penn State, Quinnipiac, Syracuse, University of Texas at Austin, and Yale. The University of Texas at Dallas won the competition. In two rounds, students traded NYMEX crude oil and natural gas futures contracts electronically, and the Zarb team achieved about a 27 percent return in less than two months.

Undergraduate and graduate Zarb finance students also competed individually against more than 60 students from 13 schools in the open outcry competition. A panel of judges composed of NYMEX officials and floor traders evaluated student traders on their trade execution. Four Zarb students - undergraduate student Jenna Tevere and graduate students Juan Gutierrez, Kay Hung and Steven Monti - placed in the top 12, more students than any other college or university in the competition.

Zarb Students Win Local Division of National Advertising Contest

The winning Zarb School team

The winning Zarb School team from the American Advertising Federation Competition with faculty adviser Prof. Chuck McMellon (back row; 1st from left)

Students from the Zarb School won the District 2A American Advertising Federation (AAF) Competition in New York City in May - competing with more than 10 other colleges, including Penn State, Ithaca College and Georgetown University. AAF's National Student Advertising Competition (NSAC) College World Series of Advertising is the premier college advertising competition. The team, under the advisement of Chuck McMellon, associate professor of marketing and international business, won first place after preparing an advertising plan and campaign for AOL's instant messaging and social network platforms. The students went on to the national competition in Atlanta, Georgia.

The students who presented the plan were Allison Calabrese, Jesse G. Freedman, James A. Gilligan, Ryan M. Mitchell and John V. Terrana. The other team members were Theresa M. Ayala, De Anna R. Caiati, Hazel De La Rosa, Anthony Ho, Nkechi Hooper, Cathy L. Jimenez, Zack Miller, Morgan Rosenblum, Jonathan Whitford and Michael K. Williams.

Zarb Students Place Second in National Association of Black Accountants/ Deloitte & Touche Case Study Competition

10. National Association of Black Accountants student Saudia Thomas

National Association of Black Accountants student Dominique Charles

In April a team of Zarb undergraduate students was awarded second place in the first National Association of Black Accountants (NABA) NY/Deloitte & Touche Case Study Competition at Deloitte's offices in the World Financial Center. Six NABA New York student chapters - Hofstra University, Stony Brook University, Brooklyn College, Baruch College, Medgar Evers College (C.U.N.Y.) and Monroe College - prepared and presented their solutions to an assigned accounting case. The team tackled issues of legal isolation, sale accounting and bankruptcy. Following the presentations, there was a question and answer period led by a panel of judges consisting of three Deloitte senior managers.

The Zarb team was composed of Duciel Veras, a junior finance major; Quincy Johnson, a junior political science/economics major; Dominque Charles, a sophomore legal studies in business major; and Saudia Thomas, a sophomore accounting major. The team won a cash prize, and their names will be displayed on a plaque at Deloitte & Touche.

Annual Beta Alpha Psi Spring Induction Dinner

Annual Beta Alpha Psi Spring Induction Dinner

Representatives from Holtz Rubenstein Reminick at the Beta Alpha Psi event, including Larry Waldman (M.B.A., '74) (1st on left), managing partner and Michael Medina (B.B.A. '07) (1st on right)

Annual Beta Alpha Psi Spring Induction Dinner

Beta Alpha Psi chapter adviser Prof. Linda Schain. Dr. Ralph Polimeni, vice provost for accreditation and assessment and Dominic Marsicovetere, retired Accounting Department administrator

Annual Beta Alpha Psi Spring Induction Dinner

Beta Alpha Psi 2008-2009 executive officers Kristina Mendez, Caroline Kirkwood and Shamin Habid

Annual Beta Alpha Psi Spring Induction Dinner

Beta Alpha Psi members; (bottom row) Felisha Fret and Christa Mariono; (top row) Michael Medina (B.B.A., '07), Kimberly Toole, Marivi Caban and Jeffrey Roth

The annual induction dinner for the Zarb School's Delta Pi Chapter of Beta Alpha Psi was held on May 8, 2008, at the Swan Club in Roslyn Harbor. The annual induction dinner recognizes the achievement, dedication, and hard work of the chapter's members and, especially, the inductees. At this event, scholarships donated by accounting firms are awarded to members and inductees who have greatly contributed to the chapter. In addition, students had the opportunity to thank the firms and faculty for their support and contributions.

This year's Spring induction dinner was sponsored by PricewaterhouseCoopers. John P. Lane (B.B.A., '78), tax partner at PricewaterhouseCoopers, was the honorary speaker. This semester, more than $25,000 in scholarships were awarded to 14 inductees and 40 members.

The Estée Lauder Companies On-Site M.B.A. Program Graduates

First graduates of the Estée Lauder Companies on-site M.B.A. program

First graduates of the Estée Lauder Companies on-site M.B.A. program with Prof. Stuart Bass, director of graduate programs (standing; front row; 1st on left), Dean Sodano (standing; front row; 2nd on right) and Prof. Luke Ng, director of recruitment for graduate business programs (standing; front row; 1st on right)

On May 16, 2008, the Zarb School hosted a luncheon for 16 employees of The Estée Lauder Companies who graduated from Hofstra this spring with an M.B.A. Held at The Estée Lauder Companies' corporate headquarters in Melville, the event marked the graduation of the first "wave" of students from Hofstra's on-site program at The Estée Lauder Companies. A second and third group of students are in the process of completing their degrees and a fourth group of employees will begin M.B.A. studies this fall. Dean Sodano extended his congratulations, and each student was presented with a letter from William Lauder, chief executive officer of The Estée Lauder Companies, recognizing their achievements. A letter was also read from Mr. Lauder congratulating Alan Hinkson, vice president of human resources, and Andrew Gehlhoff, manager of human resources, acknowledging their contributions to the success of the on-site M.B.A. program.

In a letter to Dean Sodano, Mr. Gehlhoff writes:

Thank you for your continued support for the on-site M.B.A. program at The Estée Lauder Companies. The tradition and curriculum of the program have enhanced our employees' knowledge of business, fostered business relationships between departments, and strengthened our organization as a whole.

The Zarb School also runs similar programs at Computer Associates and the North Shore-LIJ Health System.

Zarb Professors Win Awards at the 2008 Northeast Decision Sciences Institute Meeting

More than 150 double-blind reviewed papers were presented at the 2008 Meeting of the Northeast Decision Sciences Institute. Four Best Paper awards were given based on a second round of reviews by a committee composed of senior members of the organization. Of the four awards, faculty and graduate students of the Zarb School won three.

Dr. Kaushik Sengupta, assistant professor of management, won the David Levine Award for Best Paper in Education in the Decision Sciences for his paper titled "An Analysis of Industry Expectations and Our Teaching in Quality Management Courses." In addition, Dr. Mohammed Tafti (professor of information technology), Dr. Deb Sledgianowski (assistant professor of information technology) and their student Jim Kierstead won the Babson College Award for the Best Paper in MIS/DSS/Microcomputers for their paper titled "Lessons Learned From Outsourcing Practice in a SME." Finally, Dr. John Affisco, professor of information technology, and his students Dr. Michael Hall and Donna Moravick won the Hikmet Family Health Care Award for the Best Paper in Health Care for their paper titled "OR Turnaround Time: A Case of Health Care Process Improvement." Dr. Hall is chief of adult cardiac surgery at North Shore University Hospital, and Ms. Moravick is vice president of cardiovascular services for the North Shore-LIJ Health System. Both were among the first graduates of the Zarb School's M.B.A. in Quality Management Program in May 2008.

Marketing Professor William L. James Named Zarb School Teacher of the Year

William L. James

Prof. Bill James with Hofstra graduating students DeAnna Ciati (B.B.A., '08) and Danielle Marsiano (B.B.A., '08)

Graduating Zarb students selected Bill James, professor of marketing and international business, as the 2008 Teacher of the Year. Professor James has been a member of the Hofstra faculty for more than 20 years and was recognized previously for his outstanding teaching and dedication to his students when he received the 1988/89 Hofstra University Distinguished Teaching Award. Professor James also maintains an active research agenda: He has more than 80 publications, including articles in such prestigious journals as the Journal of Marketing Research and the Strategic Management Journal.

Zarb Professors Receive Dean's Awards

Susan L. Martin

Distinguished Professor Susan Martin, winner of the 2008 Dean's Research Award

At the final spring semester faculty meeting of the Zarb School, Dean Sodano presented awards for outstanding service and achievement to select faculty. Susan L. Martin, The Cypres Family Distinguished Professor in Legal Studies in Business, received the Dean's Research Award. The Dean's Service Award was presented to Joel Evans, The RMI Distinguished Professor of Business; Elizabeth Venuti, associate professor of accounting; and Shawn Thelan, assistant professor of marketing and international business.

Zarb Students Study in China

Study in China

Zarb students at The Great Wall of China with Prof. Yong Zhang (front row; 1st on right)

The Zarb School's study abroad program in China offers Hofstra business students the opportunity to integrate their knowledge about international business and marketing by exposing them to the business environment in China. Students study international marketing in two stages: they attend three weeks of classes on Hofstra's campus, and then they travel to China to experience the subject first hand. This summer's program ran from May 21-June 24, 2008.

David DePoister, a Hofstra M.B.A. student with a dual major in finance and marketing, participated in the program. He shares his thoughts below.

For information regarding other Zarb study abroad programs, visit our Study Abroad page.

"The trip to China during Summer Session I was an amazing educational experience and the knowledge that I gained from this trip will undoubtedly help me throughout my career. Thirteen students, six graduate and seven undergraduate, accompanied Dr. Yong Zhang, associate professor of marketing and international business, to Beijing and Shanghai. Most notably, we climbed The Great Wall, walked around Tiananmen Square and visited the Forbidden City. While in Beijing, we stayed at The University of International Business and Economics, one of the more prestigious universities in China. Unfortunately for them, the students at UIBE were still in session; however, fortunate for us the campus was alive and we were able to fully experience a foreign university.

Staying in Beijing and, in particular, visiting The Great Wall and Tiananmen Square was a surreal experience. I always wanted to visit The Great Wall and I vividly remember the 1989 massacre in Tiananmen Square.

I specifically want to comment on the extraordinary guidance and leadership that Dr. Zhang provided. My knowledge and understanding of international business and marketing was broadened by his insights and instruction. He was the key to the success of the program."

David C. DePoister, Jr.

(M.B.A., '09)

Zarb Alumnus Supports His Alma Mater

Jim Wenk

Jim Wenk (M.B.A., '04)

Jim Wenk (M.B.A., '04) recently contributed to the Zarb School. We are pleased to share his thoughts below.

"I recently decided to make a financial contribution to the Frank G. Zarb School of Business. I am committed to raising the profile of the school in the New York region and share the sense of camaraderie among longtime alumni and current students. With the new leadership of Salvatore Sodano, I have observed the creation and execution of a significant marketing and branding effort and aggressive outreach to the alumni community. I am excited to assist Sal's team in expanding its network of Zarb School contacts and communicating the need for alumni support of the school, both financially and by assisting current students and recent graduates with internships and employment opportunities. With the recent opening of the state-of-the-art Martin B. Greenberg Trading Room and the University hosting the final presidential debate in October 2008, I am proud to say I am a contributor to the Zarb School and look forward to assisting in its continued success."

Please consider making a gift to support your alma mater. You can make a contribution online at:

Under the section - Your Gift Designation - please mark school and select the Zarb School of Business. This way the amount donated will go directly to the business school. Many employers will match your charitable donations. To see if your company participates in matching gifts, please visit

Newest Zarb Alumni Speak Out

Carissa Peluso

Professor Ahmet Karagozoglu, academic director, Martin B. Greenberg Trading Room, with Carissa Peluso (B.B.A., Finance, 2008)

"Hofstra's strong alumni network helps open up many doors for students who take advantage of this network. Hofstra alumni whom I have met out in the work force are more than willing to give advice, encouragement and support to students who reach out to them."

In July Carissa will begin training as a first-year analyst at Goldman Sachs & Co. in its fixed income, currency and commodities unit.

Erin Veltman

Erin Veltman (B.B.A., Legal Studies in Business, 2008)

"Zarb students represent an elite group of young individuals whose innovation and ambition are superior. The faculty and staff are of the highest caliber and are truly a testament to the school's ongoing academic achievements. And we are lucky enough to have a dean whose vision and drive continues to enhance the reputation of our alma mater. With all the school's wonderful resources – the students, faculty and staff -–it is inevitable that the Zarb School of Business will soon be an unstoppable force among the nation's most renowned institutions."

Erin is planning to pursue a graduate degree at Hofstra in the fall.

Christopher M. Mayo

Christopher M. Mayo (B.B.A., Marketing, 2007)

"My experiences as an undergrad at the Frank G. Zarb School of Business have been priceless, to say the least. My professors always found a way to challenge my knowledge and further prepare me for the business world. I often find myself footsteps ahead of the pack because of what I have learned at Hofstra."

Chris works as an analyst at Wells Fargo Business Credit.

Felisha Fret

Felisha Fret (B.B.A., Accounting, 2008)

"I believe that my success as an accounting student at Hofstra University is a direct result of Hofstra's exemplary faculty. As students, we are extremely lucky to have professors who do not measure their success by the number of designations that follow their name or by the number of publications they have. They measure their success by the success and achievements of their students. They see a world of opportunities for which there are no limitations. They encourage us to take advantage of those endless opportunities and challenge us to go beyond our comfort zones so that we may see our potential. As I conclude my academic career, I feel that my professors have supplied me with both the academic and professional tools that I need to succeed beyond Hofstra University. It has been an honor and privilege to have been taught by such fine educators, especially Dr. Anthony Basile, Professor Harold Finkelstein, Professor Robert Katz and Professor Neil Katz. With their continued support and encouragement, I was able to step out of my comfort zone and realize my full potential at Hofstra."

Felisha Fret was president of the Delta Chapter of Beta Alpha Psi. She will join Deloitte & Touche LLP in the fall as a first-year staff auditor.

Highlights from Recent Events

The following business-related events were sponsored by Hofstra University, the Zarb School, or another Hofstra entity.

March 2008

• March 5, 2008: The Provost Office and the Zarb School Sponsors: A Lecture on Diversity: Tales from the Front Line

Anne Erni

Anne Erni, chief diversity officer, Lehman Brothers

Anne Erni, chief diversity officer for Lehman Brothers, spoke to a full audience of Hofstra faculty, students and administrators on the important issue of diversity. Ms. Erni, who holds a master's degree in international relations from The Johns Hopkins University, joined Lehman Brothers in 1997 and is responsible for strategy for workforce, marketplace and supplier diversity. She is also in charge of diversity leadership training and education at Lehman. Ms. Erni is co-chair of the "Hidden Brain Drain," a task force that studies women leaving and reentering the workforce. In addition, she co-founded and co-chaired the company's women's network,"Women's Initiative Leading Lehman." Ms. Erni has been recognized as a "Woman Worth Watching" by Profiles in Diversity Journal and in 2006, she was named one of the 50 Best Women in Business in New Jersey. She also serves on several boards that share her commitment to the advancement of women and minorities in the workplace.

April 2008

• April 2, 2008: The Zarb School Sponsors: Executive Seminar: Operational Risk of Hedge Funds

Brian Ruane

Brian Ruane told the more than  125 students in attendance about the Bank's strong connection with their school. Brian is a member of the Dean's Advisory Board and Gerald Hasell, president of the Bank, serves on the advisory board of the Merrill Lynch Center. "We are committed to providing information that can help you, as future market participants, investors and fund managers, plan and prepare for the challenges and opportunities that lie ahead," Brian said.

Brian A. Ruane (M.B.A., '95), executive vice president, of The Bank of New York Mellon presented the white paper "The Operational Risk of Hedge Funds" at an executive speaker series event sponsored by the Zarb School's Merrill Lynch Center and Graduate Business Career Services. This is the second time the bank has chosen Hofstra to present the latest edition of their prestigious white paper series. (In March 2007, representatives of The Bank of New York Mellon presented another white paper titled "Institutional Demand for Hedge Funds Will Triple to $1 Trillion by 2010.") Mr. Ruane was joined by panelists Simon Fludgate, head of operational due diligence, AKSIA, LLC; Ephraim Lemberger, associate, Binham McCutchen LLP and Lisa M. Ambrosia, head of business development infrastructure, Perella Weinberg Partners LLP. The moderator for the event was Bob Bosse, vice president of The Bank of New York Mellon. Faculty, students and guests enjoyed a lively question and answer session following the event.

• April 24, 2008: The Zarb School and Breslin Center Sponsors: Subprime Markets: Crisis or Opportunity?

Participants at the sub-prime panel

Participants at the subprime panel; (front row) David Shapiro, John Miller, president, Board of Trustees, Hofstra University; Adam Ashcraft, Ph.D.; Andrew Spieler, Ph.D. and Lori S. Walsh, Ph.D. (top row) Peter J. Bianco; Clark L. Maxam, Ph.D.; Richard V. Guardino, Jr., executive dean, Wilbur F. Breslin Center for Real Estate Studies and Ehsan Nikbakht, Ph.D.

The Zarb School and Hofstra University's Wilbur F. Breslin Center for Real Estate Studies examined critical issues brought about by the collapse of the subprime mortgage market at their program Subprime Markets: Crisis or Opportunity? The event commenced with a dynamic keynote address by Adam Ashcraft, Ph.D., research officer at the Federal Reserve Bank of New York. Participants - which included faculty, students, administrators and local business professionals - next heard a distinguished panel of speakers discuss the subprime markets. These panelists included: Peter J. Bianco, principal, Stairway Capital; Clark L. Maxam, Ph.D., director of research, Braddock Financial Corporation; Ehsan Nikbakht, Ph.D., Hofstra professor of finance; David Shapiro, president and CEO, EARN Group and Lori S. Walsh, Ph.D., financial economist, Securities and Exchange Commission. Andrew Spieler, associate professor of finance, served as the moderator.

• April 28, 2008: The Zarb School Hosts: Goldman Sachs Networking Event

Colin Peters (B.B.A., '04) with Carissa Pelus

Colin Peters (B.B.A., '04) with Carissa Peluso, a recent B.B.A. graduate who will begin her career at Goldman in July

The Zarb School hosted a very successful alumni networking event for Goldman Sachs employees who are graduates of Hofstra University. Goldman has approximately 115 alumni employed at its company. For additional photographs of this event, visit:

April 30, 2008: The Zarb School Hosts: National Association of Black Accountants Dinner
Representatives of the National Association of Black Accountants at the Hofstra chapter's dinner

Representatives of the National Association of Black Accountants at the Hofstra chapter's dinner

The Zarb School’s chapter of the National Association of Black Accountants (NABA) hosted its annual dinner at the Hofstra University Club. Students and alumni enjoyed a lovely evening as the chapter was recognized for its second-place finish in an inaugural case study competition jointly sponsored by NABA and Deloitte & Touche. Associate Professor Eugene Maccarrone, of the Legal Studies in Business Department, serves as the organization’s faculty adviser.

May 2008

• May 5, 2008: The Zarb School Hosts: The Merrill Lynch Center Executive Breakfast and Conference

Prof. George Papaioannou, director, Merrill Lynch Center (left) and Dean Sodano congratulate Richard Ketchum (middle) following his keynote address

Prof. George Papaioannou, director, Merrill Lynch Center (left) and Dean Sodano congratulate Richard Ketchum (in center) following his keynote address

Globalization of stock exchanges was the very important and timely topic discussed at the Merrill Lynch Center for the Study of International Financial Services and Markets annual spring conference. The conference was preceded by an executive breakfast where Richard G. Ketchum, CEO, NYSE Regulation, Inc. and non-executive chairman of FINRA, gave the keynote address. Faculty, students, alumni and local business professionals enjoyed Mr. Ketchum's very insightful talk titled "Reflections of a Regulator in Challenging Times." Three consecutive panel discussions followed the breakfast where stock exchange competition and consolidation, international listings and accounting and regulatory issues were discussed. At the conference luncheon, Andrew Karolyi, Ph.D., the Charles R. Webb professor of finance at Ohio State University, gave the keynote address. His provocative talk was titled "Is New York Really Losing Its Competitive Advantage in Global Capital Markets?"

For more information on the Merrill Lynch Center, visit:

• May 7, 2008: Graduate Business Career Services Sponsors: Executive Speaker Series – Jeffrey Spiegel, Lifetime Brands

Highlight Photo

Jeffrey Spiegel, chairman and CEO, Lifetime Brands

As part of its executive speaker series, the Zarb School's Graduate Business Career Services hosted Jeffrey Spiegel, chairman and CEO of Lifetime Brands. Lifetime Brands is a leading designer, developer and marketer of a broad range of nationally-branded consumer products used in the home. In his presentation, "How Innovations and Unexpected Changes Build Business." Mr. Spiegel told more than 90 Zarb graduate students and alumni of the changes that Lifetime Brands has experienced over the last eight years including the decision-making processes involved in the many worldwide company acquisitions he has spearheaded.

For more information on the Zarb School's Graduate Business Career Services, visit:

• May 22, 2008: Hofstra University Hosts Fourth Annual Alumni Networking Reception

Highlight Photo

Hofstra students Cindy Wu and Jongwon Cha with Dean Sodano at Lehman Brothers event

Highlight Photo

Joe Gregory (B.B.A., '74) with Bob Costas at Lehman Brothers event

Highlight Photo

Hofstra alumni Tim Dolan (B.B.A., '82) and Ken Bollinger (B.B.A., '93) at Lehman Brothers event

President Stuart Rabinowitz and Joe Gregory (B.B.A., '74) of Lehman Brothers and vice chair of Hofstra's Board of Trustees co-hosted the fourth annual Hofstra University Alumni Networking Reception at Lehman Brothers. Attended by more than 200 alumni, students and friends, participants gathered to network and enjoy presentations by Bob Costas, multiple Emmy Award-winning broadcaster and Mike Eruzione, captain of the 1980 Gold Medal-winning U.S. Olympic hockey team.

For additional photographs of this event, visit

June 2008

• June 13, 2008: The Business Development Center Hosts: Distinguished Lecture Series Breakfast: Tiffany & Co.: A Global Business

Highlight Photo

(front row) Richard V. Guardino, Jr. and James Quinn; (back row) Christine McInerney, partner, Ruskin Moscou Faltischek, P.C.; Arthur J. Kremer, Hofstra University trustee; President Stuart Rabinowitz; John Miller; Paul Salerno, managing partner, PricewaterhouseCoopers and Andrew Corrado, divisional senior vice president, Capital One Bank

James E. Quinn (B.A., '74), president of Tiffany & Co., was the keynote speaker at the Distinguished Lecture Series breakfast presented by the Scott Skodnek Business Development Center and co-hosted by President Stuart Rabinowitz and Richard V. Guardino, Jr., vice president for business development at Hofstra University. Mr. Quinn spoke to business leaders, faculty, administrators and students regarding the excitement and challenges that exist in global expansion. He was presented with a football jersey in remembrance of his days on the Hofstra football team.

Ruskin Moscou Faltischek, P.C., PricewaterhouseCoopers, Capital One Bank, the Industrial Development Agency of the Town of Hempstead and The Garden City Hotel are sponsors of the Distinguished Lecture Series. 

• June 18, 2008: The Wilbur F. Breslin Center for Real Estate Studies and The Institute of Real Estate at Hofstra University Hosts Second Annual Luncheon

Highlight Photo

Richard V. Guardino, Jr.;Herman Berliner, provost and senior vice president for academic affairs; Alan Eidler, president, The Institute of Real Estate; President Rabinowitz; Wilbur F. Breslin; Timothy Knight and Dean Sodano

The second annual luncheon of the Wilbur F. Breslin Center for Real Estate Studies and The Institute of Real Estate featured Timothy P. Knight, publisher, president and CEO of the Newsday Media Group as the keynote speaker. His talk was titled "Riding the Media Revolution in the Digital Age and Its Role in Shaping the Future of Real Estate and Our Economy."The mission of The Institute of Real Estate is to promote professionalism in the real estate industry and to become a trusted source for real estate education, mentoring, information and networking.

• June 19, 2008: The Zarb School and L.I.A. Hosts: The Future of Health Care Panel

Highlight Photo

"This panel brings together Long Island's premier business school and its largest business group to discuss a topic that has a major impact on the cost of doing business in our region and nationwide. The Zarb School of Business is happy to provide a forum where large corporations and small businesses can come together to discuss this and other important issues that affect Long Island's economy and our nation's business community."

The Zarb School and the Long Island Association co-hosted a panel discussion on "The Future of Health Care." The panel, which brought together our school and the largest Long Island business group, examined the current state of health care in the United States and discussed areas of concern for the business community. Dean Sodano, pictured at right, gave the opening remarks.

Mark Your Calendar

The Zarb School Presents

Economic Issues Facing the Presidency

Mark Your Calendar

featuring Paul O'Neill, Robert Rubin and Floyd Norris

Tuesday, September 9, 2008 at 2-3:30 p.m.

John Cranford Adams Playhouse

South Campus

Paul O'Neill served as the 72nd U.S. secretary of the Treasury for part of President George W. Bush's first administration. He resigned in December 2002. Previously, Mr. O'Neill was chairman and CEO of the Pittsburgh-based industrial giant Alcoa from 1987 to 1999, retiring as chairman at the end of 2000. In 1995 he was named chairman of the RAND Corporation.

Robert Rubin, director and chairman of the Executive Committee of Citigroup, served as the 70th U.S. secretary of the Treasury during both the first and second Clinton administrations.

Floyd Norris, who will act as moderator, is chief financial correspondent of The New York Times and The International Herald Tribune, covering the world of finance and economics. He was named to that post in September 1999, after spending more than a year as a member of the Times' editorial board. He joined the paper in October 1988 as a financial columnist.

There will be a reception at the Hofstra University Club following the program.

This event is free but registration is required. Please register on the Educate '08 Web site.

Visit Educate '08

Class Notes


Robert J. Heldt (B.B.A., M.B.A.,'73) of San Jose, CA, retired from FMC Corp. as manager of subcontracts in 1996.  He is enjoying RV travel throughout the USA and additional traveling in Europe.  He is boating and fishing weekly in the great San Jose, CA climate.


Laurence N. Charney (B.B.A.) of Port Washington, NY, was appointed to the Board of Directors of XTL Biopharmaceuticals Ltd.



John R. Riesenberger

John R. Riesenberger (B.S., M.B.A., '75) of Basking Ridge, NJ, has joined MannKind Corporation as corporate vice president and chief commercialization officer.


David Groelinger (M.B.A.) was elected chief financial officer of Sky Sotheby’s International Reality.


Bruce R. Thaw (B.B.A., J.D., '78) of Farmingdale, NY, has been named a member of the MDRNA, Inc. Directors Strategic Advisory Board by Nastash Pharmaceutical Company Inc.


Neil Getter (B.B.A.) of Huntington, NY, was appointed executive vice president for Willis Group, an aerospace leadership team.

Gerald Tucciarone (B.B.A.) of Seaford, NY, is the chief financial officer and treasurer for Hauppauge Digital Incorporated and has been selected for inclusion in the 2008-2009 Princeton Premier Registry.

Geraldine M. Wolk (M.B.A.) of Plainview, NY, has been featured in Long Island Business News “Who’s Who: Ones to Watch in Accounting.”  Ms. Wolk focuses on a broad range of areas including professional services, not-for-profits, trusts and estates and wholesale and retail businesses.


Dr. Sheila Handy (B.B.A., M.B.A., '81) of Columbia, NJ, accepted a position in the school of business management and economics at East Stroudsburg University teaching accounting.

John Winther (B.B.A.) of Mastic Beach, NY, has been married for 29 years with 4 children and one granddaughter.  He has been with Grumman for 23 years.


Steven Kent (B.B.A., M.B.A., '85) of Marlboro, NJ, was elected vice president, global testing & QA of Freeborders, the leading provider of technology solutions developed from China.


Marc DeSimone (M.B.A.) of Smithtown, NY, has been featured in Long Island Business News “Who’s Who in Banking.”  Mr. DeSimone is president and chief executive of American Community Bank in Glen Cove, NY.


Gary Tynes (B.B.A.) of Dix Hills, NY, is the managing member, chief operating officer and chief financial officer for a New York City hedge fund with approximately $1.4 billion in assets. After he graduated from Hofstra, he started his career in Public Accounting and became a CPA.  In just over four years, Mr. Tynes was recruited by one of his clients where he has worked for more than18 years.  He started as the firm's controller in 1990, became a partner in 1997, and was elected to the management committee in 2000.  Mr. Tynes is one of three managing members who run the business.  He has two daughters, Haley, 17 and Jessica, 15.

Terry S. Weissberg (B.B.A.) of Boynton Beach, FL, got married in 1999, has two children, and is working as an investment officer.


Arthur B. Cohen (M.B.A.) of Westport, CT, has been appointed to the Board of Directors of HealthCor Management, LP.  Mr. Cohen is the founder of the company and serves as its portfolio manager.


Marc Weiss (B.B.A.) of Long Beach, NY, has been featured in Long Island Business News “Ones to Watch: Small Business.”  Mr. Weiss is the CEO as well as chief entertainer for a Long Beach-based company that specializes in what he calls “culinary entertainment.”


David Bernstein (B.B.A.) of Bridgewater, NJ, was elected to the Board of Directors of New Milliennium Bank.

Jaspreet S. Mayall (B.B.A., J.D., '91) of Dix Hills, NY, was featured in Long Island Business News “Who’s Who in Tax & Bankruptcy Law.”  Mr. Mayall is a partner in the debtor/creditor rights and bankruptcy group at Certilman Balin Adler & Hyman LLP in East Meadow.

Linda Obedzinski (B.B.A.) of Glastonbury, CT, was one of three parents from Naubuc School in Glastonbury to receive the volunteer recognition award from the Connecticut Association of Elementary School Principals.  This award, presented at a banquet sponsored by the Connecticut Association of Schools, recognizes outstanding service to the school community.


Deborah Brown-Volkman '88

Deborah Brown-Volkman (B.B.A.) of East Moriches, NY, has published her fifth book, How to Feel Great at Work Every Day. Deborah is a professionally certified coach, motivational speaker, and the president of Surpass Your Dreams, Inc. She provides career coaching for senior executives, vice presidents and managers who are looking for new career opportunities or seeking to become more productive in their current roles


Eric Goldstein (B.B.A.) of Sandy Hook, CT, has started a company called Sporty Minds.  The company has developed a DVD that teaches young children their ABCs through sports imagery.  To learn more about Sporty Minds, visit


Susan (Maurizio) Christiano (B.B.A.) of Monroe, CT, is running a successful public relations firm, Da-Ve Communications, and has recently launched an online hair jewelry boutique for young girls called Bowtique Alley.


Joelle Goldstein Cohn (B.B.A.) of Charlotte, NC, has started a company called Sporty Minds.  The company has developed a DVD that teaches young children their ABCs through sports imagery.  To learn more about Sporty Minds, visit


Bernadette (Catanzano) Iannacchino (B.B.A.) of Deer Park, NY, will be recognized by The Queens Courier and Queens Business Today for the outstanding contributions made by women in the borough during the Sixth Annual Top Women in Business Networking Awards Dinner.  She is the Queens branch manager of Chase Home Mortgage.

Allan Spielman (M.B.A.) of Woodmere, NY, hosted a Monterey Pop 1967 tribute concert to benefit Save One Person. Save the World, a project of The Meaningful Life Center.  He is married with two boys, Areiel and Yoni.


Carlo Gambale (B.B.A.) of Commack, NY, is a partner in the computer information solutions firm Nextlevel Information Solutions in Lido Beach.  He is also a partial owner of a large recording studio and music venue, 3MB Recording Studios, in Smithtown, New York.  He is married to Tanya Schulte (B.B.A. ’95).  They have two children: Hayley and Christopher.


Edward J. Wolff

Edward J. Wolff (B.B.A.) of Dallas, TX, has accepted a new position as chief administrative officer with Pinnacle Realty in Dallas, Texas.  He runs the corporate support operations for this international, multifamily company.


Michael McCreesh (B.B.A.) led a team of 34 riders in the 2007 PanMass Challenge in August as part of TeamBrent.  Thanks to their efforts, the Dana Farber/Boston Children’s Hospital broke ground on a much-needed targeted radiotherapy program.

Chris Nicholson (B.B.A.) of Bay Shore, NY, has been featured in Long Island Business News “Who’s Who in Commercial Real Estate.”  Mr. Nicholson is an agent at Island Associates Real Estate in Smithtown, NY.


Lorraine Aycock (B.A., M.B.A., '99) of Roosevelt, NY, has been selected to serve as market development manager for Bank of America Long Island.

Stacy Perez (B.B.A., M.B.A., '01) of West Babylon, NY, has been named “Ones to Watch: Long Island Technology Firms.”



Joseph Ancona

Joseph Ancona (B.B.A.) of Commack, NY, has been featured in Long Island Business News “Who’s Who in Banking.”  Mr. Ancona joined Suffolk Federal Credit Union as director of commercial lending.

Jamison Skala (B.B.A.) of Bay Shore, NY, and his wife Denise celebrated the second birthday of their son, Ethan Jamison Skala on November 7, 2007.


Sabira Beg (B.B.A.) of Revere, MA, was promoted to project manager at Bovis Lend Lease where she manages finishes for multi-million dollar construction projects.  In addition, Ms. Beg just started running her own business. She owns and operates an early learning center for children ages 6 weeks through 5 years and currently has 45 students enrolled.

Kimberly A. Schwartz (B.B.A.) of Hollis, NY, is engaged to Lamont Harris of Long Island City, NY.


Brian Gunn (M.B.A.) of Garden City, NY, joined GMAC in the global automotive finance business as risk officer for consumer credit. In this role, Brian will further enhance the risk management capabilities in the global automotive finance business by managing the consumer credit asset portfolio.


Anthony C. Musumeci (B.B.A.) of Bohemia, NY, has been featured in the Long Island Business News “Who’s Who in Engineering & Environmental Consulting.”  He is chief marketing officer at Emtec Consulting Engineers.

James John Stucchio (B.A., M.B.A., '03) of Dix Hills, NY, was appointed assistant superintendent for business and operations by the Hauppauge Board of Education, effective July 1, 2008.  Mr. Stucchio and his wife Kathy are expecting their first child on August 18, 2008.


Brian M. Clark (B.B.A.) of Calgary, Canada and his wife Shannon Clark (B.A. ’99, M.A., ’02) just welcomed their second daughter, Brinley Ann on August 23, 2007.  Their oldest daughter, Ashlyn Smith, was born on October 13, 2004.  He just finished his 10th season playing football in the Canadian Football League with the Calgary Stampeders. Mr. Clark also works in the oil and gas sector with Lonkar Services Ltd., in business development.

Constantine Moshos (B.B.A.) was appointed vice president of business development for Data Dimensions.


Stephen Fereance (B.A., M.B.A., '07) of New Hyde Park, NY, has done volunteer work in the local communities and has been accepted into a flight program with the U.S. Air Force.

Shibu Idichandy (B.B.A.) of Miami, FL, has been licensed in New York as a certified public accountant.  He has recently graduated with his masters in taxation from the Alvah H. Chapman, Jr., Graduate School of Business, Florida International University Chapman in Miami.

Joseph Vincent (M.B.A.)
of East Hills, NY, has been appointed senior vice president of operations for Dow Jones Consumer Media Group.


Chris Kutner (M.B.A.) of Rockville Centre, NY, was promoted to the Board of Directors of the American Red Cross in Nassau County.


Brian Gabel (B.B.A.) of Jackson, NJ, is raising capital for public and private small-growth stage companies on Long Island and across the globe, focusing on bringing insightful ideas to the money that brings them to the masses.


Kevin Flavin (B.B.A.) of Peabody, MA, received his Juris Doctorate from the University of Akron School of Law on May 18, 2008.

Carinne Marino (B.B.A.)
of Moriches, NY, has a wonderful new job working for Kenneth Cole Productions in New York City


Michael Roschnotti (B.B.A.) of East Northport, NY, was appointed a junior analyst at N.I.R. Group, LLC, one of the largest and most active private investment in public equity  fund managers in the world.





Finnegan Matthew


Mollie Jane


Sophia Elizabeth


Adriana Delainey

Spencer born to Russell Horowitz (B.B.A., '93) and Melissa Horowitz

Finnegan Matthew born to Vincent and Melissa (Compton) Pasko (B.B.A., '95)

Mollie Jane to Steven Schwinger (B.B.A., '93) and Lori (Beeber) Schwinger (B.B.A., '93)

Sophia Elizabeth born to Bradley and Christine (Yude) Weiss (B.B.A., '94)

Adriana Delainey born to Anthony (B.S.,'98) and Danielle (Kolb) Willis (B.B.A., '98)


Andrea Janas (B.B.A., '00) and Anthony Curran (B.A. '98, M.S., '02) were married on April 19, 2008 at Windows on the Lake in Lake Ronkonkoma.

Stephen Distefano (B.B.A., ‘05) of East Northport, NY, was married on August 11, 2007 to Angela Vitale (B.B.A., ’06)

In Memoriam:

Robert W. Armstrong (’61)

Edith Barnes (B.A., ’63, M.A., ’69)

Harry Borley (B.B.A., ’72)

John Frederick Haller (M.B.A., ’54)

Robin Kugelman Holstein (B.B.A., ’85)

Arlo J. Jensen (M.B.A., ’76)

Seymour Kulick (B.B.A., ’60)

Louis Marro (B.B.A., ’68)

Stanley P. Mermell (M.B.A., ’75)

Harold Joseph Sullivan (B.B.A., ’66, M.S.Ed., ’67)