HUNDREDS OF ALUMNI, friends, business associates, and family members–including
grandchildren–turned out in their black-tie finest to celebrate
their ties to Chicago and honor the 1999 Distinguished Alumni
Award recipients at the fourth annual Alumni Celebration on October
1. The awards were presented to David Booth, ’71, and Rex Sinquefield,
’72; Philip J. Purcell III, ’67; and Ernest Wish, XP-29 (’71).
Booth and Sinquefield, cofounders of Dimensional Fund Advisors
Inc., were honored with the Distinguished Entrepreneurial Alumni
Award. “Chicago is a lot more than an alma mater. It provided
the tools to start a business, which would be enough, but it also
has provided continued enrichment through continued involvement
with faculty,” Booth said, thanking several faculty members, including
Eugene Fama, Robert R. McCormick Distinguished Service Professor
of Finance, for their input and inspiration.
Purcell, chairman and CEO of Morgan Stanley Dean Witter, was the
recipient of the Distinguished Corporate Alumnus Award. Purcell
developed the Discover Card and engineered the merger of Dean
Witter and Morgan Stanley. Purcell said luck has played a part
in his success but that his years at Chicago helped develop his
strategic ability.
Wish, who was honored as Distinguished Public Service Alumnus,
was recognized for his involvement with the city of Chicago, the
Chicago United Way Crusade of Mercy, Lincoln Park Zoo, and many
other organizations. Civic involvement provides “the real thrills
of life,” Wish said. “If there are any of you here tonight who
want to build a storehouse of memories, help another person.”
Wish, chairman of WRM Incorporated, was formerly head of the Chicago
office of Coopers & Lybrand.
Keynote speaker Marvin Zonis, professor of business administration,
gave a talk on business leadership in the networked economy. While
change only after a crisis has long dominated American business
thinking, today’s organizations must adapt and innovate or face
the certainty of becoming less relevant, Zonis said. Strong leadership
is essential to navigate such change, particularly when a company
is successful.
“To move a successful organization is far more difficult than
to move a failing organization. To do so requires extraordinary
leadership to inspire and motivate people to take significant
risks,” he said.
The celebration, held at the Chicago Sheraton Hotel, culminated
in dancing to live rhythm and blues and swing music. Partygoers
also were treated to a sneak preview of the school’s new recruiting
video (click here to read more about the school's marketing and positioning).–C.N.
