Sharon Lassar

Though rental properties attract buyers who hope to gain steady income or to enjoy a high return upon their sale, tax law holds many complexities that can affect the profitability of such investments. Owners may lack awareness of the negative possibilities. Even tax advisors may not know all the potential pitfalls or ways to turn an unfavorable situation to the owners’ benefit.

Despite the pervasiveness of such transactions, professionals can find little assistance on how to allocate basis (original cost plus adjustments, improvements, casualties) and the amount realized on the sale of mixed use properties.

Practical information clarifies tax code complexities.

Using a case-study approach, Sharon Lassar, a newly-appointed associate professor in the College of Business Administration’s School of Accounting, along with two colleagues, has brought clarity to a confusing set of tax requirements related to rental property usage—a boon to tax professionals who want to make the sales implications as clear and profitable for their clients as possible.   Read more.

FOCUS ON

.: Join the Business Alumni Chapter for a new season of its popular Traveling Happy Hour.

Put your career in high gear! It’s time to network. The road to success awaits you at our Traveling Happy Hours. The first stop is planned for the Martini Bar at Sunset Place on Thursday, September 21st from 6:30 p.m. to 9:00 p.m. We will offer drink specials, free appetizers, and raffle prizes.  Visit our event page for more details. Not a member? Join Now.

.: Move on up! Join us for our Alumni Career and Graduate School Fair.

Come back to campus on Monday, September 25, 2006, to present your best to regional and national companies offering career opportunities for university alumni. You also will have the opportunity to meet with representatives from various graduate schools, including the Chapman Graduate School of Business, to inquire about graduate programs. Find the job or graduate education that you have always wanted.  Come dressed to impress, and don’t forget to bring several copies of your resume. The fair will be held at the Graham Center Ballrooms, University Park, from 6:30 p.m. to 8:30 p.m. For additional details, please visit the Career Services Office.

.: 2006 Entrepreneurship Hall of Fame inductee launches CEO Series.

Albert Santalo

An inductee into the college’s Entrepreneurship Hall of Fame this past May, Albert Santalo (EMBA ’97), president and CEO of Avisena, will be the featured CEO for the Business Alumni Chapter’s CEO Speaker Series, presented by South Florida CEO magazine. The reception and discussion will be held on Thursday, October 19th, from 6:30 p.m. to 8:30 p.m. Please visit our Calendar of Events for forthcoming details.

.: Alumnus Alex Garcia leads upscale real estate boutique.

Alex Garcia

Alex Garcia (MS ’80, BACC ’74) stands overlooking the crystal blue Atlantic Ocean admiring its beauty. He is standing on the back terrace of his office, IL Villaggio Realty, of which he is the principal and founder.

IL Villaggio Realty is a leading South Beach boutique realty company specializing in upscale waterfront properties. It has an extensive selection of exceptional residences in South Florida’s most upscale areas, including South Beach, Miami Beach, Bal Harbour, Brickell, Key Biscayne, Coral Gables/Coconut Grove, and Sunny Isles. IL Villaggio Realty’s portfolio includes captivating buildings such as the Continuum, Capri South Beach, 1500 Ocean Drive, One Bal Harbour, The Setai, Blue, Aqua Island, IL Villaggio, and The Strand, to name a few. Read more.

.: Alumni Notes

• Rene M. Cibran (BBA ’80) is a princor registered representative and financial advisor for Principal Financial Group. He has sixteen years' experience in the financial services industry, and it is his twelfth year as an investment adviser representative.

• Elena Stetsenko (BBA ’80) was promoted to controller at the John S. and James L. Knight Foundation.

• Edward Gannon (BBA ’81) has been named a principal in accounting firm Kaufman Rossin & Co.’s litigation practice. He focuses on commercial and family law.

• Habib A. Chaudhry (BBA ’84) was featured in an article in the local newspaper, El Mensajero, in New Mexico. He is a Spanish-speaking IRS employee who volunteers to work in Amarillo, Texas to aid the Hispanic community with its tax and accounting issues.

• Sol Sotheby’s International Realty has appointed J.C. Padial (BACC ’86) president and interim CEO. Padial was a real estate investor and investment manager.

• Juan J. Martinez (BACC ’90) was promoted to vice president of finance in addition to his role as treasurer for the Knight Foundation.

• Howard Shore (EMBA ’96, BBA ’91), Alumni Circle member, and Pablo J. Perez (MS ’93) announce Elite Advisory Group is changing its corporate name to Activate Group, Inc. to reflect the next stage in the evolution of their firm.

• Accounting firm Kaufman Rossin & Co. has named Nick Tootle (BACC ’91) a principal in the firm’s audit practice. He joined the firm in 1993 and has extensive experience in public and private enterprises with a concentration in financial services.

• Ocean Bank has promoted Nelson Hidalgo (BBA ’93), Guillermo Molina (BBA ’84), and Barbara Morizot-Leite (BBA ’93) to senior vice presidents.

• Peggy Navaja (BBA ’95) has been promoted to senior vice president, controller for Premier American Bank.

• Accounting firm Morrison Brown Argiz & Farra, LLP, has promoted Alex Crespo (BACC ’96) to director. Crespo was a senior manager in the audit department.

• Dayne del Valle (BBA ’97) has been named chief financial officer of Century Homebuilders. Del Valle previously was chief financial officer at EFC Holdings.

• Lia Raquel Martinez (BBA ’99) has joined the Knight Foundation as an account manager.

• Premier American bank recently named banker Luis Rodríguez Jr. (BBA ’00) as vice president of financial reporting at its main branch in South Miami.

• Demian Bellumio (BBA ’00) CEO of Hoodiny Entertainment Group, parent company of elhood.com, announces management additions to the company and a new office location in Los Angeles. Elhood.com named Scott Brogi as chief operating officer and Fabian E. Schonholz as chief technology officer.

• Frederic Lafleur (IMBA ’03, BBA ’02) is a consultant at the World Bank in Washington, DC, where he joined the Finance, Private Sector and Infrastructure Group. He oversees its Energy Sector Management Assistance Program (ESMAP) in Latin America and the Caribbean. His efforts have been instrumental in the approval of a US $6 million grant to improve the quality of electrical services in Haiti. Additionally, he is working on an off-grid rural electrification project of US $12 million with the government of Nicaragua.

• Madeline Rosado Valdes (MBA ’03) was promoted from property manager to assistant director in October, 2005, for the City of Miami.

• Eduardo Salinas (BBA ’05) has joined the team at The Miami Herald/El Nuevo Herald as an account executive and has enrolled in the Chapman Graduate School of Business to earn an Executive MBA.

Soon, several thousand alumni, more than 7,000 students, and more than 350 faculty and staff of the college will have access to a state-of-the-art email and collaboration system, thanks to a major technology grant from the Hewlett-Packard Company (HP).

“Education is the single, most effective lever for increasing economic prosperity and for growing a diverse, highly-skilled workforce,” said Rui da Costa, managing director for the Latin American and Caribbean regions and vice president, Technology Solutions Group, HP. “Our contribution to the College of Business Administration represents a commitment to establishing a long-term relationship to provide graduates, faculty, and staff with the technology tools necessary to bring their education to a higher level.” Read more.     

.: College of Business Administration distinguishes itself at ALPFA convention...again.

Twenty-two students funded by the College of Business Administration were among the approximately 2,000 attendees at the recent Association of Latino Professionals in Finance and Accounting’s (ALPFA) annual meeting at the Fort Worth Convention Center, held from August 5-9, 2006. College Executive Dean Joyce J. Elam, who sits on the organization’s Corporate Advisory Board, also attended, as did José de la Torre, dean, Chapman Graduate School of Business, who was there for the gala. The college’s students affiliate with ALPFA through their membership in the Florida International University Accounting Association (FIU-AA).

Vanessa Coronado, president of FIU-AA, participated in the national event for the first time.

“It was an amazing experience, particularly the networking opportunities and the chance to go to professional workshops,” said Coronado, who has just completed an accounting internship at Georgia Pacific in Atlanta, GA. “It was wonderful that the college funded all twenty-two of us. People were really impressed by our presence, and it was appropriate that there were so many of us since we are the largest ALPFA student chapter in the country.” Read more.

.: New director outlines clear vision and agenda for the Ryder Center for Supply Chain Management.

Walfried Lassar

Supply chain management can affect every aspect of today’s business environment—from marketing, finance, and distribution to global logistics and international business. What’s more, an increasing number of companies rely on supply chain management for competitive advantage. The magnifier effect makes a dramatic statement: a $1 reduction in cost from supply chain efficiencies is equivalent to a $12 increase in sales revenues.

This broad, yet integrated, view of supply chain management is key to the strategy being set for the Ryder Center for Supply Management by Walfried Lassar, associate professor in the college’s Department of Marketing and recently appointed Ryder Professor and Director of the Ryder Center for Supply Chain Management. Read more.

.: College of Business Administration and Assurant Solutions build a dynamic relationship.

While the name R. Kirk Landon is widely known and respected, two places in Miami hold it in particularly high regard: the College of Business Administration, with its R. Kirk Landon Undergraduate School of Business Administration, and nearby Assurant Solutions, which bought Landon’s American Bankers Insurance Group in 1999.

Recently, Landon; College Executive Dean Joyce J. Elam; and Annabelle Rojas (MBA ’98, BBA ’87), the college’s director of external relations and resource development, laid the foundation for a closer relationship between two entities that have been beneficiaries of Landon’s largesse. They designated Natalia Sol, the college’s director of corporate relations, as its liaison with Assurant to help institute a series of mutually-beneficial programs over the coming year. Read more.

.: New faculty members join the College of Business Administration.

The 2006-2007 academic year got underway with eleven new faculty joining the College of Business Administration. They’ve come from around the globe, bringing impressive credentials and a commitment to both teaching and research that will benefit our students and the community. To learn more about this extraordinary cadre of scholars, simply click on their names and read about them on their expert’s page. Read more.

.: BBA+ Weekend class "lights the night" with commitment to community service.

Chances are, we all know someone—be it a friend, family member, or neighbor—whose life has been touched by cancer.

Just such a personal connection with the difficulties faced by a loved one fighting leukemia lit the spark fueling the community service project that students in Group 21 of the current BBA+ Weekend program are supporting.

“We are a team of forty business students that has committed to raising $750 each to reach a total of $30,000 through our participation in The Leukemia and Lymphoma Society’s “Light the Night® Walk” on Saturday, September 16th in downtown Miami,” said Samantha Kugler, Group 21 class president and team leader for the project. In pursuit of her BBA degree, Kugler currently is a trust advisor with Coconut Grove Bank Read more.