I am very sorry to inform you that Sam Johnson died quietly at his home in Racine on Saturday, May 22, 2004, after a difficult and prolonged battle with cancer. Sam was a Cornellian (Class of 1950) and a great friend and benefactor of our school. We will miss him deeply.

Throughout his life, Sam modeled what it meant for a leader to operate as a catalyst for the larger good. He transformed a small family wax company into a major global enterprise. In doing so, he insisted that his family companies not only be great businesses, but "good" businesses, respecting their employees, bettering their communities, and protecting the natural environment. And he expressed those commitments in both words and deeds.

Sam shared generously his time, thoughtful counsel, and financial resources to decisively shape the Johnson School. He loved this school, and always found ways to be with us - on campus and elsewhere. He served as a Cornell trustee for 22 years and chaired the Johnson School's advisory council for almost 20 years.

A few weeks ago, we celebrated the 20th anniversary of the naming of this school as the Samuel Curtis Johnson Graduate School of Management, in honor of Sam's great-grandfather, the founder of S.C. Johnson. Sam and his family also established three endowed professorships, supported the renovation of Sage Hall and other important initiatives, and encouraged countless others to support the school as well

As Dean, I counted on Sam's friendship, counsel, support, and encouragement. Sam believed in the positive potential for business for transforming social change. He also believed in the positive potential for business education for transforming business and its role in society. As the Samuel Curtis Johnson Graduate School of Management, we are linked with Sam not only by his name, but also by his aspirations. We will continue to carry his legacy with pride.

Additional information about Sam is available at www.johnson.cornell.edu.

This is a story about greed, hubris, and corporate strategy; but mostly about people. In Enron, it was not just a few who deserve attention in contrast to most of the other corporate failures. The problems were systemic.

Those who were privileged to have professor Dyckman during their Johnson School studies know that this event is not to be missed, and those who somehow missed out on studying with one of the great gentlemen and scholars on the Johnson School faculty should certainly make plans to join us for this thought-provoking presentation. For an overview of the entire 2004 Reunion program, and to register, go to http://www.johnson.cornell.edu/alumni/events/reunion.

We are accepting applications for this award through July 31, with selection and disbursement of the funds in July and August. You may apply at any time, but we review candidates twice a year-once in July and once in January. For more information on the Jonas Weil Fellowship, e-mail your mailing address to FinancialAid@johnson.cornell.edu.

Robert Frank was quoted in a New York Times article that examines the benefits to students of getting an MBA at a prestigious b-school. Frank commented, "If you want to be an M.&A. lawyer, investment banker in a top house or a consultant for McKinsey-these elite jobs that everybody seems to want- you're not even going to get an interview unless you go to one of the elite schools. Going to an elite school doesn't guarantee you'll get one of those jobs but for better or worse, you won't even have a shot at it without it.''

The "Just About Jobs II" recruiting efforts of the Johnson School and the comments of CMC Director Karin Ash were included in a Market News International story that highlighted the improving employment conditions for MBAs. Ash commented, "Companies are making more offers than they have for the past two years. Students who conduct a professional and aggressive job search are doing very well this year. It is still important to present yourself with clarity, persuasion and passion in this job market, as there is competition for the positions."

The dividend research of Roni Michaely appeared in the Wall Street Journal on April 14. The paper reported, "A recent paper by professor Alon Brav of Duke University, along with professors John Graham, Campbell Harvey and Roni Michaely, surveyed almost 400 executives and found that they view dividend payouts as a step that conveys 'management's confidence about the future.' Since executives are reluctant to cut dividends, they only raise them after becoming more upbeat about the outlook for their companies."

The Johnson School was highlighted extensively in a Financial Times column by Nancy Dunne entitled, "Prospects for MBAs Improve by Degrees." Beyond a focus on "Just About Jobs II," the column quoted Johnson School students and staff extensively. The seven-column expose about the current state of MBA hiring included comments from students Alison Reichert, David Titus, Charles Bowser and Mike Hood as well as Karin Ash, director of the CMC, and Dick Shafer, associate dean for corporate relations.

The Johnson School's Second Annual MBA Stock Pitch Challenge attracted some attention from HedgeWorld.com in April. The contest, which was won by Northwestern University's Kellogg School of Management, involved eleven three-person teams competing over two days in front of eight judges. First prize was $3,000 and second prize, won by the Johnson School, earned $1,500.

The comments of CMC Director Karin Ash and the "Just About Jobs II" event were part of a recent story in The New York Times entitled, "Colleges Struggle to Attract Job Recruiters to Campuses." Ash commented, ''When the job market isn't great, not all recruiters are willing to go out of their way to get to us. In a dreary market, you've got to be creative."

Commercial Mortgage Alert published a story about option-pricing framework that has been developed by Johnson School Professor Robert Jarrow (who is considered a leading authority in bond-market dynamics and credit derivatives) and Johnson School graduate Andreas Christopoulos '96. The new product incorporates nearly 65 factors to determine "performance of individual loans in CMBS collateral pools thereby providing investors with the ability to can differentiate between CMBS deals."

For more Johnson School media hits, see Johnson School in the News.