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Business Networks | December, 2007 | Volume 5, Issue 12
Accounting regulations challenge would-be pharmaceutical investors.
The successful production of a new drug benefits people with medical needs and investors alike. Yet, the time from R&D to product launch spans years, many drugs never make it very far along in the process, and the cost—beginning with R&D through clinical trials to market—runs in the billions of dollars. How can investors—absolutely critical to pharmaceutical companies—make prudent decisions about where and when to invest their money for a good return? As with any investment, relevant and reliable accounting information helps, but in this sector, such information does not come easily. That’s in part because the future economic benefit of R&D costs is highly uncertain. Also, to comply with the conservatism principle in accounting, in which managers assume no economic benefit, companies must expense R&D costs, where the bulk of the outlay occurs. “Regulations in the United States and in the United Kingdom, which are where we focused our study, dictate that companies treat R&D expenditures as expenses and deduct those costs from earnings, rather than treating them as capital expenditures,” said Stephen Lin, associate professor, School of Accounting, College of Business Administration. “This accounting practice has significantly reduced quality of earnings, since many pharmaceutical or biotech companies literally never make any profit.” Read more. Blog this.
Conference enables women to take next steps along leadership path.
“Women on the Move: Advancing Authentic Leaders” brought together experts on leadership and women rising in their organizations. Organized by Florida International University’s Center for Leadership and run by the College of Business Administration’s Office of Executive and Professional Education (EPE), the event covered five critical competency areas: leading self, strategic focus, managing operations, leading teams, and connecting with others. “As high-achieving women move up the ranks of their organizations, they realize the need to take responsibility for their own leadership development,” said Joyce J. Elam, executive dean of the college, academic director of the center, and presenter on the “leading self” topic. “We designed the program to help them discover their strengths as leaders and to provide a framework for discussing the unique challenges and choices women leaders face.” Read more. Blog this. Executive MBA students hit the road to see how China does business.
The College of Business Administration’s Executive MBA (EMBA) program offers entrepreneurs and professionals the opportunity to integrate new knowledge and apply new skills and insights into their current work. Classroom learning—including courses on international business and global finance—plays a key role in the EMBA experience. The coursework culminates in a trip abroad that allows students to witness business in action in other parts of the world. In November, 2007, 35 EMBA students and one alumnus traveled to China, accompanied by Mary Ann Von Glinow, professor and Knight Ridder Eminent Scholar Chair in International Management, and Sumit Kundu, Knight Ridder Center Research Professor, both in the Department of Management and International Business. Read more. Blog this. Looking into the energy crystal ball: Where will 2030 find us? Every second, the world consumes 40,000 gallons of liquid fuel.
Startling statistics like this one explain why the subject of energy generates discussion around the globe—including at the College of Business Administration during the Energy Business Forum held on November 14, 2007. Department of State’s energy advisor meets with college’s Energy Business Forum.
On December 4, 2007, Greg Manuel, Department of State energy advisor to Condoleezza Rice, met with members of the college’s Energy Business Forum (EBF)—part of its Knight Ridder Center for Excellence in Management—to learn more about the Forum’s activities. “He asked to meet with us because of our growing recognition for work in the areas of biofuels and energy security in the Americas,” said Carmen Algeciras, director, John Ogonowski Farmer-to-Farmer (FTF) program, funded by the U.S. Agency for International Development (USAID), which is part of the Knight Ridder Center. Read more. Blog this.
Fashion, friends, and fundraising come together to help Latin American children in need.
Hot high fashion paraded down the runway to the sound of cool live music as the spirit of generosity soared during the first annual Fashion for Friends fashion show and fundraising event benefiting Nuestros Pequeños Hermanos, a network of orphanages in Latin America and the Caribbean. Students from the College of Business Administration played an important supporting role during the star-studded evening, with members of the college’s Graduates Reaching Out Worldwide (GROW) organization coordinating fundraising and publicity, plus pulling together a team of twenty event-night volunteers. Read more. Blog this.
Raul A. Zubillaga (BBA ’82)
Areas of study: Finance and investment banking Additional education: In 1993, he earned the designation of Chartered Financial Analyst Current employer: CitiTrust Title: Managing Director and Chief Trust Investment Officer for Global Wealth Structuring Alumni tradition continues with second annual Night in Paradise.
Last year, a group of dedicated College of Business Administration alumni developed a philanthropic event that would give back to the community and to the college’s students with the intent of creating a tradition that would grow and be passed on to the next generation of board members. They accomplished their mission. The 2nd annual Night in Paradise, Taste of Brazil, took place on November 26, 2007, at the luxury resort, Grove Isle Hotel and Spa in Coconut Grove, Florida. This year, the evening represented a joint partnership between the Business Alumni Chapter and the Young Urban Alumni Association (YUPA!). The event benefits the FIU Student Enhancement Fund and CHARLEE Homes for Children, a non-profit organization that helps abused and neglected children. Read more. Blog this. Alumni Circle joins Hands on Miami Day 2007
The college’s Alumni Circle lead a group of 200 volunteers to participate in Hands on Miami Day on Saturday, November 3, 2007, at Campbell Drive Middle School in Homestead, Florida. Burnie, the Miami Heat mascot, entertained volunteers while they painted murals and landscaped the school. The outreach project was part of the 13th annual Hands on Miami Day, an effort to improve the Miami-Dade community. Students, alumni, faculty, and staff were sponsored by The Continental Group, Inc. Lunch was provided by Corporate Caterers. View more pictures of Hands on Miami Day. Nominations open for 2008 Entrepreneurship Hall of Fame. Nominations are now open for the 2008 Entrepreneurship Hall Fame. The Entrepreneurship Hall of Fame honors alumni of the College of Business Administration at Florida International University and other members of our business community who have achieved distinction as founders and builders of new business enterprises. Read the criteria and nominate someone today! Not sure your nominee is an alum? Contact Michelle Joubert, assistant director of alumni relations, at 305-348-0397 or e-mail joubertm@fiu.edu. Nominations close January 14, 2008. Chapman alumni to celebrate the holidays. Make your reservation today for the college’s Chapman Graduate School’s alumni holiday networking party on Thursday, December 6th, from 6:00-9:00 p.m. in the “new” business building complex at Modesto A. Maidique Campus. The event will take place in the Special Events Center on the 2nd Floor. It’s a great opportunity to spread some holiday cheer while networking with fellow alums. Live entertainment, cocktails, appetizers, and prizes will make for a very enjoyable evening. Alumni Notes
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