Tuck School

As some have noted, we refrained from commenting on Dean Karl Hill's resignation in last month's issue, preferring to let the feature article describing this decision serve as the initial announcement. However, we naturally want to add our own comments and expression of regret that Karl will be leaving the Hanover scene.

Karl Hill has been a great source of strength for Tuck School during the past 22 years. He has been instrumental in drawing an outstanding faculty to the Tuck campus, changing the student mix to include graduates from over 75 colleges and fostering closer relationships with industrial and financial concerns, and he has contributed in countless ways to the steady development of the School. His strong leadership has directly benefited more than 2000 Tuck students, and his friends and associates are legion. His presence will be greatly missed.

We are delighted that John Hennessey, Professor of Business Administration at Tuck since 1957 and Associate Dean of the School for the past five years, has been chosen as Karl's successor. John has worked closely with Karl during this period and will be an exceedingly capable leader. Dean Hennessey has been deeply involved in all facets of the School's operations and is well equipped to carry on the work of his close friend and colleague. His appointment was applauded warmly here in Hanover.

More news on Karl in coming issues since he will remain on the job through the full academic year. His friends and associates at the School and in the business world will appreciate his accomplishments for many years to come and will always remember his deep devotion to the Tuck School.

As mentioned earlier, the Tuck faculty is active on many fronts. Though its main interest and emphasis are on teaching and close relationships with the students, it is vitally necessary that each professor maintains a meaningful relationship with the industrial and financial communities. Its ability to perform this dual function is one of the important reasons why Tuck has one of the strongest faculties in the field of graduate business education today.

Prof. Richard S. Bower was a Visiting Professor of Finance at the Sloan School of Management at M.I.T. during the fall term of 1967. Working in Cambridge during most of the term, he managed to put in at least two days a week at Tuck and is now back on full schedule in the winter and spring terms. He also attended the Southern Economic Association meeting in New Orleans in November where he discussed Capital Budgeting Under Uncertainty.

Prof. Christopher Nugent and Prof. Bower conducted a Seminar on Simulation for the Institute of Quantitative Research in Finance in New York City.

Prof. Charles Mayer spent a considerable amount of time overseas during the fall in addition to continuing research here at Tuck. He attended the American Marketing Association's Attitude Research Conference in Puerto Rico in October. After a stop in New York to make a presentation at the Advertising Research Foundation's Annual Conference, he flew to London to continue work in which he had been involved during the previous year. He and Prof. Brian Quinn, currently on a year's leave of absence in Europe, had a Tuck faculty reunion in London. Professor Quinn is involved in research in the area of national planning of research and development in Europe for the 1967-68 academic year and will be back in Hanover in the fall.

Prof. Frederick Webster taught at the Sales Institute for Components Sales Operation of the General Electric Company in October, and in November taught in a Marketing Seminar at the Transportation Center at Northwestern University. In addition, he and an associate at M.I.T. wrote an article entitled "Application of Operations Research to Sales Force Management" which appeared in the Journal of Marketing in January 1968.

One of our new faculty members in the Finance field is Prof. Willard Carleton, a very prolific author and an excellent teacher. During the fall term he co-authored an article "Measuring Corporate Profit Oppor- tunities" which appeared in the Journal of Financial and Quantitative Analysis in September 1967. This article was earlier given as a paper at the Annual Meeting of the Institute of Management Sciences in Boston. He was also co-author of "Defining the Finance Function: A Model Systems Approach" which appeared in the Journal of Finance in December 1967. In November he gave a seminar at the Federal Deposit Insurance Corporation on the results of a study entitled "Statistical Credit Scoring of Municipal Bonds."

Prof. Robert Macdonald addressed the 22nd Annual Conference of the New England State Employees Association on the topic "Collective Bargaining in Public Employment." He also contributed an invited paper on "Collective Bargaining in the Post War Period" to the 20th anniversary issue of the Industrial and Labor Relations Review which appeared in July 1967. Further reports on the faculty in later issues and now back to alumni news.

James J. Kernan T'56 has been promoted to Dallas district manager of the Armstrong Cork Company's Floor Division. Following his undergraduate education at Georgetown University, and Tuck School, he joined Armstrong in 1956 and has progressed through the ranks of the sales and marketing divisions prior to his present appointment. Burt Binner T'60 joined the staff of Marcom Incorporated, a New York management consulting firm, in January 1968. Burt was director of marketing research, Glass Containers Manufacturers Institute. At Marcom he will join two other Tuck graduates, Harold Klein T'62 and David Jung T'64.

Arthur Peabody T'66 reported in a phone conversation from W. R. Grace in New York that he was about to leave for Italy for several weeks of work with Grace organizations in that country. It is apparent that our younger graduates are getting wide exposure early in their careers. Claude A. Huck T'63 has been transferred to Los Angeles to manage the new branch office of Lehman Brothers in that city. Claude has been associated with Lehman Brothers in Chicago for the past two years.

That's all that space permits and we shall have to hold other news until next month. In closing, I should report that Hanover is now a winter wonderland and that the Dartmouth Skiway, with its new double chair lift, is superb. We hope to see some of you on the slopes during the coming season.

Best regards from the hills.