Kellstadt Graduate School of Business

Kellstadt Graduate School of Business

Mission	"Catholic, Vincetian, Urban"
Established	1913 as part of DePaul University's College of Commerce
School type	Private, Roman Catholic
Dean	Ray Whittington
Location	Chicago, USA
Campus	Downtown Chicago "Loop Campus"
Enrollment	27 daytime MBA (2006) 942 full-time (8+ credit hours) (2006) 837 part-time (<8 credit hours) (2006)
Web Site	[http://www.kellstadt.depaul.edu/ Official Web site]

The Charles H. Kellstadt Graduate School of Business is part of the DePaul University College of Commerce, a business school located in the Chicago Loop, Illinois, USA. The College of Commerce was founded in 1913 and is one of the ten oldest business schools in the United States of America. The master of business administration program was launched in 1948. The school is accredited by the Association to Advance Collegiate Schools of Business-International, considering the leading body for accreditation of business schools. In the fall of 2007, Kellstadt enrolled 2,024 graduate students. DePaul is a member of the Big East Conference.

Kellstadt is known for its part-time MBA program, which has been ranked in the top 10 by "U.S. News & World Report" in 12 of the past 13 years. It was 6th in the most recent rankings, released in March 2008. It also is recognized for its entrepreneurship program, which was ranked #5 in the USA by Princeton Review and Entrepreneur Magazine in October 2007, and its real estate program, now housed in the new Department of Real Estate.

Academics

Kellstadt offers both a part-time and full-time Master of Business Administration, which students customize by choosing at least two of 27 concentrations; a combined MBA/Juris Doctor with the DePaul University College of Law; 10 specialized master's degrees that provide in-depth knowledge in a particular area of business; and joint MBA/MS programs.

The part-time MBA program is offered at multiple sites in the Chicago area and in Bahrain, Czech Republic and Taiwan.

Kellstadt now has six major divisions: the School of Accountancy and Management Information Systems and the departments of finance, economics, marketing, management, and real estate. The department of real estate was created in 2008 to showcase hthat segment of what had been part of the department of finance. Seven members of the accounting faculty have won Outstanding Accounting Educator of the Year awards from the Illinois CPA Society.

Kellstadt has 14 specialized centers and institutes that conduct research, host symposia and partner with local, national and international organizations to address issues within various fields. They include the [http://creativity.depaul.edu/index.asp Ryan Center for Creativity and Innovation] , which was named one of the top-10 university "entrepreneurial hot spots" with "the most innovative programs for fledgling business owners" by Fortune Small Business magazine in its March 2006 issue; the [http://ent.depaul.edu/ Entrepreneurship Program] ; the [http://realestate.depaul.edu/index.htm Real Estate Center] , which provides a rare university focus on the real estate market; and the [http://commerce.depaul.edu/ethics/html/about/about.shtml Institute for Business and Professional Ethics] .

History

DePaul’s College of Commerce began offering business classes in 1913 at the university's Lincoln Park Campus, becoming one of the 10 oldest business schools in the nation and the first at a Roman Catholic university.

To better serve working students and build connections with the business community, the university moved the Commerce program downtown to the Powers Building, 37 S. Wabash Avenue, in 1914, thereby founding DePaul’s Loop Campus. In 1915, DePaul’s Commerce and DePaul University College of Law classes moved to the Tower Building, Michigan Avenue and Madison Street. Continued growth in all programs led DePaul to move its Loop-based programs to larger leased quarters at 64 E. Lake Street in 1928.

The college established a master of business administration program in 1948 and launched the Graduate School of Business. In 1958, Commerce and the other Loop-based programs moved to the 18-story Lewis Center, donated to DePaul by the Frank J. Lewis Foundation. In 1977, Commerce began offering graduate classes at the university’s suburban sites to better serve working students.

In 1971, Commerce established its first center, the Small Business Institute, formalizing its long-standing tradition of assisting entrepreneurs and small-business owners thrive.

In 1982, Commerce established the [http://kellstadtcenter.depaul.edu Center for Market Analysis and Planning] through a $1 million gift from the Charles H. Kellstadt Trust. The first research and academic component established by the Kellstadt Trust, the center uses Chicago as a marketing research laboratory linking classroom instruction to problems actually encountered by area business firms involved with consumer products and marketing services. This feature of the center is believed to be unique in the nation.

In 1983, DePaul was awarded a $1 million gift from the Dr. Scholl Foundation to establish an endowed chair in its College of Commerce and Department of Finance. The endowed chair is DePaul's first and will bear the name of the foundation's principal benefactor, Dr. William M. Scholl.

The Center for Business Ethics was launched in 1984. In 1986, Commerce received another $1 million grant from the Kellstadt Foundation to establish the Kellstadt Center for Marketing Analysis and Planning in Administration Center, designed to integrate state of the art marketing research with curriculum and programs.

In 1988, the five year Arthur Andersen & Co. Alumni Distinguished Professorship in accountancy and the Touche Ross Distinguished Professorship in accountancy were established.

In 1992, DePaul receives a $9 million gift from the Kellstadt Foundation to establish the Kellstadt Graduate School of Management, named for Charles H. Kellstadt, former president, chairman and chief executive officer of Sears, Roebuck and Co. The school is formally dedicated in October 1993, when it moved into its current quarters in the DePaul Center, 1 E. Jackson Blvd.

In 1994, Kellstadt launched an 18 month international MBA program in marketing in finance, the first of its kind in the country.

In 1995, Success magazine rated the Charles H. Kellstadt Graduate School of Business among the top 25 best business schools in the country. The magazine surveyed 135 school deans across the country who ranked DePaul fifth in the nation. U.S. News & World Report ranked the part-time MBA program among the top 10 for the first time. In each year since 1995, U.S. News has consistently ranked the part-time program in its top 10, with the exception of 2005, when it was ranked 11th.

In 1997, Kellstadt launched its first overseas part-time MBA program in Hong Kong, tailored to the needs of multinational companies. In 2000, Kellstadt added a part-time MBA program in Bahrain. In 2002, it added another in the Czech Republic through a partnership with the Czech Management Center. The program’s most recent overseas program was created in Taiwan in 2006.

In 2002, Kellstadt created the [http://realestate.depaul.edu/index.htm Real Estate Center] , under the direction of Professor Susanne E. Cannon. Since then, the center has grown into one of the nation's premier programs for professional real estate education, offering both graduate and undergraduate degrees as well as continuing education. In 2006, the center received three gifts in excess of $1 million: $4 million from the Michael J. Horne Foundation to endow the Horne Chair in Real Estate Studies; $2 million from Douglas and Cynthia Crocker to endow the Doug and Cynthia Crocker Director of the Real Estate Center; and $1.5 million from George Ruff to endow the Ruff Chair in Real Estate Studies. In 2007, the MacArthur Foundation awarded the center a grant of $3.5 million to launch a multi-faceted program to save affordable rental housing in the Chicago region.

In 2008, Dean Ray Whittington created the Department of Real Estate, carving it out of the Department of Finance, in order to showcase the Real Estate Center and its faculty. Professor Susanne E. Cannon was chosen as the first department's first chairperson.

Notable Faculty

* Ray Whittington "Dean and Professor, Accounting": Ray Whittington is a Professor and former Ledger and Quill Director of the School of Accountancy & Management who was appointed Dean of the Kellstadt College of Commerce in April of 2006.

* Werner F. M. DeBondt "Professor, Finance": Werner DeBondt, chair, Driehaus Center in Behavioral Finance, is a pioneer in the field of investor and market psychology. De Bondt, who earned his doctoral degree in managerial economics from Cornell University, and economics professor Richard Thaler of the University of Chicago are acknowledged as founders of behavioral finance with the publication of their 1985 academic paper, titled “Does the Stock Market Overreact?,” which analyzed U.S. stock price data since 1925 and found that investors often overreact to both good and bad news.

* James D. Shilling "Professor, Real Estate": James Shilling, who holds the Michael J. Horne Chair in Real Estate Studies, is a nationally known expert in real estate investment trusts, the role of real estate in institutional investors’ portfolios; mortgage securitization, commercial mortgage default, real estate asset pricing, housing finance and urban economics.

* Harold P. Welsch "Professor, Management": Harold Welsch holds the Coleman Foundation Chair in Entrepreneurship at DePaul. An expert in small business start-up and development, he founded DePaul’s highly ranked entrepreneur program.

* Patricia H. Werhane "Professor, Management": Patricia Werhane holds the Wicklander Chair in Business Ethics and is the director of the Institute for Business and Professional ethics. She is one of the nation’s top business ethics scholars. Her current work with the center focuses on finding for-profit models for lifting people out of poverty.

* Belverd Needles "Professor, Accounting": Bel Needles, the Ernst & Young Professor of Accountancy at DePaul, is an internationally known expert in financial reporting, auditing and corporate governance. He is the author of more than 20 books, including “Principles of Accounting” and “Financial Accounting,” which are used in classrooms around the world.

* Susanne E. Cannon "Professor, Real Estate": Susanne Cannon, the Douglas and Cynthia Crocker Endowed Director of the Real Estate Center, has built DePaul’s Real Estate Center into one of the premier Midwest real estate education and research hub.

* Rebel A. Cole "Professor, Real Estate": Rebel Cole is an internationally known expert in banking, corporate governance and small-business finances. Formerly an economist at the Federal Reserve Board, he is the author of more than 50 scholarly articles. Dr. Cole has assisted international relief agencies in developing countries including Kenya, Lebanon, Malaysia, Palestine, the Philippines and Yemen.

* Bruce I. Newman "Professor, Marketing": Bruce Newman is the editor of the Journal of Political Marketing and an expert on voter behavior and political marketing. He is the author of several books, including “The Marketing of the President” and “Winning Elections with Political Marketing.”

Notable Alumni

* Jeffrey S. Aronin, President and CEO, Ovation Pharmaceuticals
* Dorothy Brown, Clerk, Cook County Circuit Court
* Brooks Boyer, vice president, marketing, Chicago White Sox
* Frank M. Clark, CEO, ComEd
* Paul R. Davies, Chairman and CEO (retired), AON Re
* Richard Driehaus, CEO, Driehaus Capital Management
* Martin Jahn, Deputy Prime Minister, Economic Affairs, Czech Republic
* James Jenness, Chairman, Kellogg Co.
* Patrick J. Moore, CEO, Smurfit-Stone Container Corp.
* Diane M. Pearse, CFO, Crate and Barrel
* Letitia Peralta Davis, CEO, Metropolitan Pier and Exposition Authority
* Sister Catherine Ryan, CEO, Maryville Academy
* William M. Rudolphson, senior vice president and CFO, Walgreens
* Carol L. Schneider, CEO, Advocate Christ Medical Center, Oak Lawn, Illinois
* Daniel Ustian, Chief Executive, Navistar International Corp.

External links

* [http://www.kellstadt.depaul.edu/ official Web site]
* [http://commerce.depaul.edu/ DePaul College of Commerce]
* [http://www.depaul.edu/ DePaul University]
* [http://www.kellstadtmba.org/ Kellstadt MBA Association]