Wharton Now

In Memoriam: Professor Edward B. Shils

Dr. Edward B. Shils, founder of the Wharton Entrepreneurial Center (now the Sol C. Snider Center) and the George W. Taylor Professor Emeritus of Entrepreneurial Management, died on November 14 at the age of 89.

Dr. Shils enrolled at Wharton in 1933 and earned a B.S. in economics in 1936. He became a salesman for RCA Victor but returned to Penn, earning an M.A. and Ph.D. in political science in 1937 and 1940 respectively.

In 1942 he enlisted in the U.S. Army Corps. When he left the military in 1946, he became a graduate lecturer in political science and chairman of the social science department at Community College of Temple University. He returned to Penn in 1955 as a lecturer on industrial relations in the Wharton School and in 1956 was appointed tenured associate professor of industry at Wharton.

During his lifetime career at Penn, Dr. Shils earned six degrees: W’36, G’37, GR’40, L’86, GL’90, GRL’97. He was the former chair of the management department at Wharton, The G.W. Taylor Professor Emeritus of Entrepreneurial Studies, director emeritus of the Wharton Entrepreneurial Center, and advisor to management students. He was teaching Management 248, “Executive Leadership,” this semester, nearly 20 years after his official retirement in 1985.

In 2001, Dr. Shils received the Penn Alumni Award of Merit, which cited his “excellence in teaching,” “unquenchable thirst for knowledge,” and the fact that he had touched countless students and alumni with his “teaching energy and enthusiasm, lucid insights, and wise council.”

In addition to his work at Penn, Dr. Shils was also a member of the board of directors of Vishay Intertechnology, had a private law practice, and owned an economic consulting firm through which he worked with the City of Philadelphia and the state. He was a consultant in the establishment of the Pennsylvania Teachers’ Retirement Fund and wrote reports for the city that led to the creation of the Community College of Philadelphia.

He was the author or co-author of six books in the subject areas of public finance, collective bargaining, entrepreneurship and labor-management relations, including Industrial Peacemaker: George W. Taylor’s Contributions to Collective Bargaining (1979); Teachers, Administrators and Collective Bargaining (1968); Automation and Industrial Relations (1963); and Finances and Financial Administration of the School District of Philadelphia (1940), and he was the author of approximately 100 journal articles or published studies.

Dr. Shils is survived by his wife, Shirley (CGS’84, CGS’90, G’93); daughters, Ronnie Burak and Nancy Shils (SAS’77, GSAS’86, GSE’01); son Barry; and two grandchildren.

$1.25-Million Gift from UBS to Name MBA Admissions Suite

Leading financial firm UBS is making a gift of $1,250,000 to the School to name the MBA Admissions Suite in Jon M. Huntsman Hall. The admissions suite will now be called the UBS MBA Admissions Suite.

“We are grateful for this support from UBS,” said Dean Patrick T. Harker. “This gift is a testament to the partnership between Wharton and UBS.”

Robert Wolf, W’84, chief operating officer of UBS Investment Bank, stated that “UBS is proud to sponsor the UBS Admissions Suite at the Wharton School, as it allows us to strengthen the relationship between UBS and Wharton and confirms our commitment to attracting top-tier MBA talent.”

Besides Wolf, several other top UBS executives are Wharton alumni including Peter Wuffli, WAM’99, CEO of UBS AG; Ken Moelis, W’81, joint global head of Investment Banking Americas; Barbara Cona Amone, W’88, head of global talent; and Joe Scoby, W’87, G’87, CEO and global head of UBS O’Connor. The company also is a very active recruiter of Wharton students.

Wharton Women in Business Celebrates 25 Years

How did Wharton alumna Lucinda Duncalfe Holt sell her start-up, TurnTide, an anti-spam technology company, to Symantec for $28 million just six months after first-round funding? How did Michele Anderson, WG’93, turn her passion for wines into a successful import and distribution business?

Wharton MBA students and alumnae heard these and other successful entrepreneurs’ stories during “We Did It Our Way: Entrepreneurial Wisdom,” one in a series of high-level panels, workshops, and speeches at the Wharton Women in Business (WWIB) Conference, held in November in Philadelphia.

Now in its 25th year, the conference had over 600 attendees and started off with an introduction by networking specialist Keith Ferrazi and an interview with Leslie Morgan Steiner, WG’92, general manager for The Washington Post Magazine. The keynote speaker was Andrea Jung, chairman and CEO of Avon Products, who shared her experiences taking the top job at Avon and working to achieve gender equality in the managerial ranks.

WWIB also paid tribute to the life achievements of Kathleen McDonald, WG’79, through its annual Kathleen McDonald Distinguished Alumna Award ceremony. This year’s award went to Jane Sadowsky, WG’89, managing director and co-head of North America Power Group at Citigroup Corporate and Investment Bank.

Panels covered several key topics, including Pathways in Finance, Entrepreneurial Wisdom, Building a Brand and Making your Mark in the Luxury & Retail Sectors, as well as panels which discussed leadership issues in the public service and non-profit sector, as well as innovation in the technology and life sciences arena.

The conference also included successful and popular “tea chats”— less formal, small-group networking opportunities introduced at last year’s conference. Participants included UBS, Morgan Stanley, Citigroup, J.P. Morgan, Merrill Lynch, Deutsche Bank, CSFB, Goldman Sachs, Bear Stearns and Bank of America Securities, Wachovia, American Express, Rohm & Haas, Exelon, Capital Group, Sprint and 85 Broads.

These companies along with over twenty others also participated in a Career Fair.

One of Wharton’s largest student clubs, WWIB strives to enhance the Wharton experience for all women enrolled in the MBA program via efforts in admissions, alumnae outreach, professional development, health and well-being, community service, athletic and inter-club activities.

As for this year’s conference, “a major goal was for students to gain insight and inspiration into the kind of person and leader they hope to become,” said Catherine Chiurco, WG’05, conference co-chair. “By developing an event that draws alumnae back to campus, we will enable them to form closer connections with Wharton and with each other.”

To learn more about Wharton Women in Business, visit www.whartonwomen.org.

Power, WG'59

J.D. Power III, WG’59, Visits School as Entrepreneur in Residence

In November, Wharton Entrepreneurial Programs (WEP), in collaboration with the Wharton Undergraduate Division’s Musser-Schoemaker Leadership Lecture Series, presented a visit by market researching pioneer J.D. Power III, WG’59. Power, the namesake of J.D. Power and Associates, met one-on-one with students on Nov. 9 as part of WEP’s Entrepreneur in Residence program.

The Entrepreneur in Residence program allows students to meet with entrepreneurs for 30-minute sessions to discuss ideas, opinions, and strategies for potential or actual business ventures.

For more information, visit the WEP website at www.wep.wharton.upenn.edu/eir.

SPIKE Wins MAX Award

Wharton’s SPIKE student intranet was awarded a MAX award at a Macromedia conference last month. The award acknowledges innovative applications that present rich user experiences built with Macromedia technologies. Wharton’s SPIKE — developed by Wharton Computing in conjunction with Wharton MBA and Undergraduate students — was selected as the most innovative application in the Educational Experiences category.

“Blazing Trails” at Annual Whitney Young Conference

2005 Whitney Young Conference

J. Arnett Frisby, W’42, the first African-American graduate of the Wharton School, spent a good portion of this year’s Whitney Yong Conference greeting well-wishers. “It is so nice to see all the people I’ve met over the years since my first conference in 1992,” he said.

Frisby and other Wharton alumni, students, prospective students and corporate executives—numbering nearly 700 in all—gathered for the 31st Annual Whitney M. Young Conference from November 11- 14. Entitled “A New Frontier: Blazing Trails by Expanding Boundaries,” the conference included panels on such topics as The Art of Networking, Emerging Markets, and Women in Corporate America.

During a luncheon address, Hamilton Whitney Taylor, W’05, grandnephew of the late Whitney M. Young, Jr., discussed the hardships his great-uncle faced, and he expressed thanks on behalf of his family for continuing to honor Young’s legacy. Rev. Al Sharpton and Rep. Harold Ford, C’92, were also featured as keynote speakers.

Conference co-founder Milton Irvin, WG’74, a managing director at UBS, remembered “rolling up the rugs at Vance Hall for the first conference in 1973,” which lasted a half-day. While accepting the award as AAMBA (African-America MBA Association) Alumnus of the Year, Irvin renewed his commitment to nurturing talent and noted that “in this climate of downsizing, diversity must be viewed through the prism of adding to shareholder value.”

During Saturday’s Awards Luncheon, Harold Haskins, Director for Student Developmental Support Planning, was recognized for more than 25 years of dedicated service in assisting at-risk minority students through various support programs sponsored by the University of Pennsylvania. College scholarships totaling $5,000 were awarded to three promising public high students and a current Wharton undergraduate.

The conference also included numerous networking opportunities as well as a career fair. Conference chair Damien R. Wilson, WG’05, noted, “Our career fair attracted students from Penn’s professional schools as well as top-tier schools both locally and throughout the east coast. This fulfills our mission to provide excellent candidates for our corporate sponsors.”

“The feedback from this years’ conference has been great,” Wilson added. “Our experience this year can only enhance the ties between alumni and students.”

Vernon Hill, W’67, Receives Pioneer Award from Marketing Faculty and Students

Faculty and students in the Wharton Marketing Department awarded the first annual Marketing Pioneer Award to alumnus Vernon W. Hill, W’67, founder and chairman of Commerce Bancorp. The award is given to an individual who has inspired breakthrough thinking and innovation in marketing. Hill received the award at an event held in December at Wharton.

“We are extremely pleased to give this award to Vernon Hill who has raised the standard for innovation and excellence through his leadership,” said Stephen Hoch, chairman of the Wharton Marketing Department and director of the Jay H. Baker Retailing Initiative.

Hill was chosen for instituting major changes in the retail banking industry, for breaking down barriers, and for raising the standard for excellence in marketing. As the founder and leader of Commerce, he has brought innovation to the retail banking industry through a strategy that focuses on Commerce as a retail business. Rather than following the business models of competitors, Commerce finds inspiration in the strategy of Home Depot and Wal-Mart.

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