Haas NewsWire 
April 30, 2001


CONTENTS

Janet Yellen Named to the Academy of Arts and Sciences 
Semiconductor Technology Takes First Place in UC Berkeley B-Plan Competition 
Haas Leads Western Business Schools in Quirky Wall Street Journal Ranking 
Berkeley Team Wins Advertising Case Competition 
New Staff 
Haas in the News 
Happening at Haas???????????????????????????????????????????????????  
Haas Celebrations


JANET YELLEN NAMED TO THE ACADEMY OF ARTS AND SCIENCES
 Janet Yellen, the Eugene E. & Catherine T. Trefethen Professor of Business 
Administration, was named a fellow of the American Academy of Arts and 
Sciences on April 26, 2001.? Members of this year's class included 211 
distinguished scholars, scientists, artists, business executives, educators, 
and public officials. They were honored for their achievements in fields 
ranging from mathematics to medicine, from computer science to literary 
criticism, and from public affairs to the performing arts.

"Janet Yellen is well-deserving of this honor," says Ben Hermalin, associate 
dean of academic affairs. "She is one of the leading economists of her 
generation. Her work covers so many areas within economics that it is 
difficult to characterize, except to note that it is all uniformly excellent 
and always exhibits great clarity of thought. Her works are always about 
matters of interest, usually of importance to policy debates, and they 
provide tremendous insights into these matters." 

Yellen's work includes major contributions in international economics, 
macroeconomics, microeconomics, labor economics, and the economics of social 
policy. Her writing has often focused on federal economic policy issues. She 
has served as Chair of the Council of Economic Advisers and as a member of 
the Board of Governors of the Federal Reserve. Her writings on bundling and 
advertising (micro) and "near-rational" theory of business cycles are much 
cited, as are her papers on neighborhoods, crime, and teen pregnancy.

She graduated summa cum laude from Brown University with a degree in 
economics in 1967 and received her Ph.D. in economics from Yale University in 
1971.

"You cannot help but learn from -- and be persuaded by -- reading a Yellen 
article," says Hermalin. "Although presumably not a factor in her receiving 
this honor, it is a pleasure to observe, nonetheless, that Professor Yellen 
is also an excellent teacher and a valued citizen of the Haas School and 
campus."

The academy has numbered among its members each generation's finest minds and 
most influential leaders, from George Washington and Ben Franklin in the 
eighteenth century to Daniel Webster and Ralph Waldo Emerson in the 
nineteenth and Albert Einstein and Winston Churchill in the twentieth. The 
current membership of 3,600 Fellows and 600 Foreign Honorary Members features 
more than 150 Nobel laureates and 50 Pulitzer Prize winners.

The new class is composed of 185 Fellows, along with 26 Foreign Honorary 
Members from 14 nations. New Fellows are nominated and elected by current 
members of the academy. More information is available at 
http://www.amacad.org/news/new2001.htm.

SEMICONDUCTOR TECHNOLOGY TAKES FIRST PLACE IN UC BERKELEY B-PLAN COMPETITION
 RAPT Technologies, which has developed a dramatically faster and more 
cost-effective technology for etching and polishing optical and semiconductor 
materials, has won the third annual UC Berkeley Business Plan Competition. 
The Haas MBA organizers of the competition announced the three winning teams, 
which share more than $90,000 in cash and prizes, at Wednesday's final awards 
ceremony.

"The quality of the plans was extremely high," said Michael Powell, managing 
director of Sofinnova Ventures and a final round judge. "The teams all had 
their acts together. I would have taken any one of these teams to my 
partners."

RAPT's technology is able to etch or polish materials without making contact. 
It is 10 to 10,000 times faster than existing technologies and operates at 
atmospheric pressure. The idea came from Jeff Carr of the Manufacturing and 
Materials Division at Lawrence Livermore Laboratory. He was joined by Haas 
evening MBA student Peter Fiske and Mona Alves, founder, president, and CEO 
of CHAT Communication Services.

In addition to the $50,000 first prize, RAPT received the $5,000 People's 
Choice Award, based on votes from the audience -- and independent from the 
judges -- at the awards ceremony.

The second prize of $25,000 went to biotechnology venture Aprotea Biochips. 
Aprotea aims to enhance drug discovery with its rapid and easy-to-use protein 
measurement system. Aprotea developed a patent-pending biochip for parallel 
analysis of 100 to 10,000 protein samples and is designed to be 
bio-compatible with virtually all proteins and capture agent libraries.

Haas evening MBA student Thomas McVey joined the Aprotea team, which also 
includes students from Boalt Hall School of Law and UCSF. Aprotea had 
previously won second prize for best management team in the Haas Social 
Venture Competition on April 14.

TruVideo, a wireless video infrastructure company, received the third prize 
of $10,000. TruVideo offers digital image quality over broadband that is 
superior to existing technologies. The company intends to take advantage of 
the convergence of wireless technology and the Internet to become the 
standard video platform for the emerging web-enabled wireless device market.

The TruVideo team consists of three Haas MBA students, Joseph DelCallar, 
Steven Stokols, and Raj Manghani, as well as engineering undergraduate Greg 
Chew and professor of electrical engineering Avideh Zakhor.

All six of the finalist teams have had at least one team member enrolled in 
"Opportunity Recognition," a course on how to commercialize new technologies 
taught by Andrew Isaacs, executive director of the Management of Technology 
program.

More than 65 venture capitalists, angel investors, and successful 
entrepreneurs served as judges and evaluated the business plan submissions. 
Another 26 entrepreneurs, professors, and professionals served as mentors to 
the teams that qualified for the first round and helped them develop their 
plans.

The keynote speaker at the awards ceremony was Nick Sturiale, MBA 2000, who 
was the founding CEO of Timbre Technologies. Timbre Technologies, a 
semiconductor software company that won the 1999 business plan competition, 
and was sold in February to Japanese company Tokyo Electron Limited for $138 
million. 

To date, teams from the 1999 and 2000 competitions have raised well over $90 
million in venture financing, including 1999 teams: +???????Alloptic- $19.7M 
www.alloptic.com);  +???????AudioBasket- $29M www.audiobasket.com);  +???????
GetRelevant- $4.855M www.getrelevant.com);  +???????Hotpaper- $2M, Acquired 
for $10M by GoAmerica www.hotpaper.com);  +???????Timbre Technologies- $2.8M 
(no website); and  +???????ZipRealty- $27.7M www.ziprealty.com). 

and 2000 teams: +???????DeltaClick (formerly known as iJacker)- $1.5M 
www.deltaclick.com);  +???????Onwafer (formerly known as AMS)- $350K 
www.onwafer.com);  +???????Opient- $400K www.opient.com); and  +???????
Skyflow- $3.5M www.skyflow.com), winner of the 2000 competition.

HAAS LEADS WESTERN BUSINESS SCHOOLS IN QUIRKY WALL STREET JOURNAL RANKING
 The Wall Street Journal ranked the Haas School as the best MBA program in 
the West in the newest and latest ranking of business schools in a special 
section of the newspaper on Monday, April 30.

Although the Haas School ranked only 21st out of 50 in the survey, the 
school's showing outscored all other business schools from the West Coast 
through the Rocky Mountain states - including Thunderbird (25); UC Irvine 
(29); UC Davis (34); UCLA/Anderson (36); Brigham Young (41); and, 
surprisingly, Stanford (45).? 

This is the first time in any major media ranking of business schools that 
Haas/Berkeley has done better than Stanford's Graduate School of Business.

The Journal's ranking of business schools -- its first ever -- is based on 
the opinions of 1,600 MBA recruiters.? The schools themselves supplied the 
names of its recruiters to the newspaper.? Each recruiter was asked to rate 
as many as three schools and was instructed to rate only schools with which 
he or she had recruiting experience in the previous two years.? Under the 
rules, recruiters who were also alumni of the school at which they recruited 
were permitted to rate their own alma mater.

The Journal's methodology produced results that are sure to be much discussed 
and questioned.? Traditional powerhouse business schools such as Wharton 
(18), Columbia (34), Duke (44) and Stanford (45) were significantly outranked 
by lesser-known business schools such as Purdue (6), Southern Methodist 
University (9), Wake Forest (11), and Michigan State (12).

In general, schools from the Western States did less well than others in the 
Journal's ranking, which has also been true of Business Week's survey that is 
based in part on a smaller survey of recruiters.

The top school in the Journal's ranking was Dartmouth's Tuck School, followed 
by Carnegie Mellon, Yale, Michigan, and Northwestern/Kellogg.

The editor of the special Journal section, Ron Alsop, told a group of 
business school deans in New York last week "there are a lot of surprises in 
the Journal's rankings."? Alsop spoke at an annual conference of business 
schools.

The Journal also listed the Haas School as being among the top 4 schools in 
the world that excels in the teaching of e-commence subjects, and the 7th 
best school internationally for its students' entrepreneurial skills.? These 
rankings were also based on recruiter input.

"The results of the Wall Street Journal's survey are clearly controversial, 
underscoring the need to think deeply about each ranking and what it purports 
to measure," said Richard Kurovsky, executive director of marketing and 
communications at the Haas School.? "With the continuing proliferation of new 
rankings, schools that do well in one ranking now find themselves doing less 
well in the next, forcing everyone to sort out what it all means.? This may 
ultimately be a very good thing for the consumers of rankings."

In other rankings over the past eight months, Haas has placed? #7 in US News, 
#13 in the Financial Times' ranking of international business schools, and 
#18 in Business Week's survey.

The entire package of Wall Street Journal rankings and related stories can be 
viewed online at: 
http://www.careerjournal.com/specialreports/bschoolguide/index.html

BERKELEY TEAM WINS ADVERTISING CASE COMPETITION
 The team of Berkeley undergraduates sponsored by the Haas School 
Undergraduate Program Office took first place at the American Advertising 
Federation's National Student Advertising District Case Competition on April 
20.

The team of Berkeley undergraduates went head to head with teams from seven 
other schools across the west at the Academy of Art College in San Francisco. 
They were asked to create a global marketing campaign for DaimlerChrysler. 
First place went to UC Berkeley, second place was California State 
University, Fresno, and third place was the University of Nevada, Reno. 

The Cal team will compete the national competition in Cleveland, Ohio, in 
June. This is the first time a Cal team has been to the national competition 
in three years.? The district competition trophy will be displayed in the 
Undergraduate Program office. For more information and pictures, please visit 
www.admark.org.

NEW STAFF
 Assistant to the Executive Director Joins Marketing and Communications Staff 

 Kerrie Andow Peterson has joined the Marketing and Communications staff as 
the assistant to Rich Kurovsky. She will be handling administrative tasks, 
accounting, scheduling, and special projects. Kerrie comes to Haas with 
eleven years of experience at Genentech. "I left Genentech because I thought 
I was retiring, but after two years I couldn't stand it." In addition to 
working part- time four mornings a week (every day but Thursday) at Haas, she 
also spends her free time as an Aikido instructor. She lives in Moraga. 

Kerrie's office is temporarily in S550. She can be reached at 3-9977 or via 
e-mail at peterson@haas.berkeley.edu. When she moves to her permanent space, 
her phone number will be 3-7503.

HAAS IN THE NEWS
 The Haas Social Venture Competition was covered by the Financial Times on 
April 30 in an article titled, "Environment is the Biggest Winner." Rebekah 
Saul, MBA 02, Josie Taylor, MBA 02, Dean Laura Tyson, and Jerry Engel, 
executive director of the Lester Center for Entrepreneurship and Innovation, 
were all quoted in the story. 

Janet Yellen, the Eugene E. and Catherine M. Trefethen Professor of Business 
Administration, was quoted in The New York Times on April 30 in an article 
titled, "Economists Warn of 'Growth Recession' as US Production Trails Full 
Capacity."? Yellen commented that faster growth is required to keep 
unemployment from increasing. Read the full text at 
http://www.nytimes.com/2001/04/29/business/29VIEW.html?searchpv=site01.

Dean Tyson's Economic Viewpoint column in the April 30 issue of Business Week 
is titled, "Why the New Economy is Here to Stay." Read the full text 
at:http://www.businessweek.com/magazine/content/01_18/b3730032.htm.

Ken Rosen, the California State Professor of Real Estate and Urban Economics 
and the chairman of the Fisher Center for Real Estate and Urban Economics, 
was quoted in the San Francisco Chronicle on April 30 in an article titled, 
"Change in the Weather." Rosen commented that vacancy rates are rising and 
that it is difficult to sublease excess space. 

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business 
Administration and the director of the University of California Energy 
Institute, was quoted in The New York Times on April 29 on the power crisis. 
Read the full text at 
http://www.nytimes.com/2001/04/29/opinion/29KRUG.html?searchpv=site01.

Yellen was quoted in The New York Times on April 29 in an article titled, 
"Economic View: Have Rate Cuts Lost Their Magic?" Yellen commented that 
shocks to the economy require monetary policy to work more than before. 

Brett Trueman, the Donald and Ruth Seiler Professor of Public Accounting, was 
quoted in the San Francisco Chronicle on April 29, in an article titled, 
"Millionaires for a Minute." Trueman commented that while the economic boom 
was real, people were deluding themselves into thinking it would continue 
indefinitely. Read the full text at 
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/29/M
N160971.DTL.

Trueman also appeared on the Channel 2 News on April 29. 

Andrew Rose, the Bernard T. Rocca Jr. Professor of International Trade and 
the director of the Clausen Center for International Business and Policy, was 
quoted in the Contra Costa Times on April 29. In "Gas Prices, Utility Woes 
Contribute to Economic Downturn in California," Rose commented that increases 
in the price of oil often lead to an economic downturn, 

James Wilcox, the Kruttschnitt Professor of Financial Institutions, was 
quoted in the East Bay Business Times on April 27 in an article titled, "In 
Depth: Banking & Finance." Wilcox commented that banks' earnings, though 
fluctuating in the past few months, are up. 

Senior Lecturer Sara Beckman was written up in the Berkeleyan on April 25 
along with the three other recipients of the Distinguished Teaching Award. 
Read the full text at 
http://www.berkeley.edu/news/berkeleyan/2001/04/25_teach.html.

The Social Venture Competition winner and the Business Plan Competition 
Finalists were announced in the Berkeleyan on April 25. Read the full text at 
http://www.berkeley.edu/news/berkeleyan/2001/04/25_haas.html. 

Sara Beckman was mentioned in the San Jose Mercury News April 25, for 
receiving a Distinguished Teaching Award. Read the article at 
http://www0.mercurycenter.com/business/top/016181.htm.

Reuven Lehavy, assistant professor in the Accounting Group, was quoted in the 
San Jose Mercury News on April 26 in an article titled, "JDS to Cut 5,000 
Jobs." Lehavy commented that he could not see a justification for JDS to 
write off $40 billion in goodwill. Read the full text at 
http://www0.mercurycenter.com/premium/local/docs/alabriefs26.htm

Borenstein was quoted in the Los Angeles Times on April 27 on the federal 
caps on power prices in California. Borenstein said that the federal rules 
for price mitigation would not work. Read the full text at: 
http://www.latimes.com/business/reports/power/lat_power010427.htm.

Borenstein was also quoted in several other papers this week: Mercury News 
April 24: http://www0.mercurycenter.com/local/center/rating0425.htm Mercury 
News April 27: http://www0.mercurycenter.com/premium/front/docs/PLAN27.htm. 
San Francisco Chronicle on April 
27:http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/04/27/MN222353.DTL
 The Daily Deal on April 26 San Francisco Chronicle on April 
25:http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/2
5/MN104049.DTL The Sacramento Bee on April 25: 
http://www.sacbee.com/voices/news/voices05_20010425.html The Contra Costa 
Times on April on 24: 
http://www.contracostatimes.com/biztech/stories_business/ostartups_20010424.ht
m

HAPPENING AT HAAS
 MANAGEMENT OF TECHNOLOGY SPRING LECTURE "Wireless Technologies, Applications 
and Markets" Mr. Arun Sarin, Former CEO, Airtouch Communications  Wednesday, 
May 2, 2001  4:00 p.m. to 5:00 p.m. Cheit Hall Room C125 

MBA 01 DEBRIEFING WITH DEAN TYSON The members of the MBA class of 2001 are 
invited to a debriefing hosted by Dean Laura Tyson. May 2, 2001 12:30 p.m. to 
2:00 p.m. Wells Fargo Room

 HAAS CELEBRATES THE END OF THE YEARFriday, May 4 4:30 p.m. to 6:30 p.m The 
Haas School Courtyard and BankAmerica Forum

* Cheit Awards for Excellence in Teaching (Undergraduate, MBA, Evening MBA, 
and Ph.D.) * Haas School Outstanding GSI Awards (Undergraduate and MBA) * 
Berkeley Campus Outstanding GSI Awards * MBA Service Awards * Hayase Award  * 
The results of the undergraduate Feed the Bear and the MBA Class of 2001 
Giving 101% campaigns and, * For the first time, the presentation of the 
outstanding staff awards.

 CENTER FOR FINANCIAL REPORTING AND MANAGEMENT (CFRM) CONFERENCE "Managing 
Stock Based Compensation in a Declining Market" San Francisco Airport 
Marriott May 18, 2001 A panel of experts will discuss the myriad issues 
surrounding accounting, tax, legal, and human resource aspects of various 
strategies for stock-based compensation. The conference includes speakers 
from public accounting and private industry. Audience questions and 
interaction will be encouraged. An outline of topics and speakers for both 
events is provided at CFRM's webpage:? 
http://www.haas.berkeley.edu/accounting.? Seating is limited, so please sign 
up early.

 SIXTH ANNUAL FISHER CENTER REAL ESTATE CONFERENCE Tuesday, May 22, 2001 8:00 
a.m. to 5:00 p.m.  Westin St. Francis Hotel at Union Square, San Francisco  
All Haas School of Business faculty and faculty associates of the Fisher 
Center for Real Estate are invited to attend, free of charge, the Sixth 
Annual Fisher Center Real Estate Conference. If you wish to attend, please 
e-mail Zee Zeleski (zeleski@haas.berkeley.edu), who is handling the 
registrations. Nametags will be held at the will-call desk at the conference. 

 CENTER FOR FINANCIAL REPORTING AND MANAGEMENT (CFRM) CONFERENCE"Revenue 
Recognition: Navigating Recharted Waters" San Francisco Airport Marriott  
June 1, 2001 Financial executives and audit committees alike will be 
continually challenged by the sweeping changes in rules and increased 
scrutiny placed on revenue recognition policies and procedures. The 
conference includes speakers from public accounting and private industry. 
Audience questions and interaction will be encouraged. An outline of topics 
and speakers for both events is provided at CFRM's webpage: 
http://www.haas.berkeley.edu/accounting.? Seating is limited, so please sign 
up early.

 SEMINARS 
 OBIR SEMINAR  "Economic Sociology," by Don Palmer, UC Davis, Sociology  
Wednesday, May 2, 2001  4:00 p.m. to 5:30 p.m.  Room F318, Haas School of 
Business  For more information, contact Charles Montague at 
montague@haas.berkeley.edu.

ET GRETHER MARKETING SEMINAR  Vertical Relationships between Manufacturers 
and Retailers: An Empirical Analysis," by Sofia Berto Villas-Boas, UC 
Berkeley Thursday, May 3, 2001  3:30 p.m. to 5:00 p.m.  Room C250, Cheit 
Hall  For more information, contact Laura Gardner at 
lgardner@haas.berkeley.edu.

IDS 270 INSTITUTIONAL ANALYSIS WORKSHOP  "Sender or Receiver: Who Should Pay 
to Exchange Message?" by Michael Katz, UC Berkeley?  Thursday, May 3, 2001  
4:00 p.m. to 6:00 p.m.  Room C325, Cheit Hall  For more information, contact 
Serena Joe at joe@haas.berkeley.edu.

JOINT ECONOMICS AND FINANCE SEMINAR  "Money, Interest Rates, and Exchange 
Rates With Endogenously Segmented Asset Marketers," by Andy Atkeson, UCLA 
Economics. Thursday, May 3, 2001  4:15 p.m. to 5:45 p.m.  Room 608-7 Evans 
Hall, UC Berkeley  For more information, contact June Wong at 
june@haas.berkeley.edu. 

REAL ESTATE SEMINAR "An Empirical Test of a Two Factor Mortgage Prepayment 
and Valuation Model: How Much do House Prices Matter?" by Nancy Wallace, UC 
Berkeley Friday, May 4, 2001 11:00 a.m. Room C250, Cheit Hall For more 
information, contact Lynn Lobner at lyoung@haas.berkeley.edu.

OBIR SEMINAR  Mike Hanson and Eliot Mason, UC Berkeley Wednesday, May 9, 
2001  4:00 p.m. to 5:30 p.m.  Room F318, Haas School of Business  For more 
information, contact Charles Montague at montague@haas.berkeley.edu.

FINANCE SEMINAR  "Social Interaction and Stock-Market Participation," by 
Harrison Hong, Stanford, and "Estimation of Dynamic Term Structure Models," 
by Richard Stanton, UC Berkeley Wednesday, May 9, 2001  2:30 p.m. to 5:30 
p.m.  Room C210, Cheit Hall  For more information, contact June Wong at 
june@haas.berkeley.edu.

E.T. GRETHER MARKETING SEMINAR  "Just Teasing: Provocation in Play," by 
Dachar Keltner, Dept. of Psychology  Thursday, May 10, 2001  3:30 p.m. to 
5:00 p.m.  Room C250, Cheit Hall  For more information, contact Laura Gardner 
at lgardner@haas.berkeley.edu.

 ALUMNI EVENTS  South Bay Chapter Speaker Dinner  "Forecasting Made Easy - 
Investing in Today's Dynamic Markets" by Ken Fisher, chairman and CEO of 
Fisher Investments, Forbes columnist, and investment expert  Wednesday, May 
9, 2001  6:00 p.m.-- networking/cash bar  6:30 p.m. -- dinner  7:30 p.m. -- 
speaker  Four Points Sheraton, Sunnyvale  Cost: $40 pre-registered through 
May 3, $50 after May 3 & at the door  Ken Fisher is best known for his 
prestigious Portfolio Strategy column in Forbes, where his 17 year tenure of 
high-profile calls makes him the sixth longest running columnist in Forbes' 
83 year history. In three of the last six years, his annual S&P 500 forecasts 
have been the most precisely accurate nationally published forecast from any 
source, including brokerage firms and periodicals.  To register by web: 
http://www.acteva.com/booking.cfm?binid=1&bevaID=13935  For more information 
call the South Bay Hotline at (408) 235-9363 or email Richard Falk at 
Richard.Falk@efi.com.

HAAS CELEBRATIONS  Birthdays 

Gundars Strads, May 3 Barbara Horst, May 7 Jett Pihakis, May 7 Dhundup 
Tsering, May 7 Sarah Benson, May 8 Cindy Jennings, May 9 Michael Roy, May 12

The Haas NewsWire respects the wishes of staff and faculty who would not like 
their birthdays announced. Please e-mail a request to have your birthday 
marked "do not announce" on the central birthday list to 
Haasnews@haas.berkeley.edu. 

The Haas NewsWire is the electronic news weekly for the Haas community 
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