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The Bolte School News

Our students at the Mount inspire me! It’s moving to see students’ progress from understanding concepts to applying them, and in the process, creating new knowledge - completing the metamorphosis from student to teacher. It really is beautiful to watch this process first hand and I had the distinct honor of watching this metamorphosis in four Mounties: Kevin Kelly, Martin Grenchik, Ryan McNeil, and Teresa Fabregas, all from the Richard J Bolte Sr. School of business. The four business students conducted research and submitted their work to the South East regional Decision Sciences Institute annual conference.

Kevin, Martin, and Teresa studied the impact of the number of service channels and the number of service stages on fast food drive-thru capacity in a capacity constrained system. Ryan studied airline quality in the U.S.; as part of his work he carried out a detailed literature review on a plethora of airline quality indices, compared the different quality factors, and then developed a meta-index that combined three commonly cited indices into one grand ranking index.

Students at conference

The Decision Sciences Institute regional research conference brings together academicians and practitioners interested in the application of quantitative and behavioral methods to the problems of society. Competing and submitting an undergraduate student research paper at such a conference is a rigorous process. First, the research paper undergoes a double blind review process (the identity of the reviewers (faculty members) and the authors is concealed) before being accepted. Once accepted, the students give an oral presentation (with Q/A) to conference attendees. The students displayed great courage, excellent presentation skills, and were able to effectively handle multiple questions from other faculty.

Students celebrating success

We are grateful to Karl Einolf, Dean of the Richard J Bolte Sr. School of business, for his support and encouragement throughout the entire process.

Josey Chacko

What do urban ministries do and how can a university like the Mount help them? The Mount hosted a symposium of two pastors and a social analyst to explore the rich roles of urban ministries as part of civil society, and reflected on how religious universities can connect with and support ministries such as theirs. This included Eugene Rivers, a nationally known Pentecostal minister from Boston, Cheryl Gaines whose ministry is in Washington, D.C., and Jacqueline Rivers, a Harvard scholar specializing in the role of African-American churches.

This was the first of a 2017 series on the role of civil society organized by the Mount’s BB&T Center for the Study of the Moral Foundation of Capitalism. Civil society is the broad term for religions, families, and civic associations. These are often people’s first and major sources of relationship and development, where they cultivate ideals and character for flourishing. That includes the Mount itself, as well as such groups as the Daughters of Charity. Catholic social thought incorporates civil society in its analysis of the economy as part of a complex mix of the economy, political setting and culture.

The event featured individual ministries and general analysis. Reverend Gaines described her transition from attorney to founder of ReGeneration House of Praise in Southeast DC following several murders there in 2010. One part of her ministry is a garden initiative through which she has hired many youth and young adult employees and worked with hundreds of volunteers from universities and community and faith-based groups. This provides a context in which people can come together as a community for church, for socializing, to flourish, and to assist those in need. She detailed how from there her ministry has been able to help people grow in faith, build families, and secure basics of housing, employment, and education. She exhorted Mount students to get involved in such ministries, but to recognize their real foundation is Christ.

Jacqueline Rivers provided an overview of the role of urban ministries, from theory to academic research on their contributions. Rivers is a Du Bois Fellow at Harvard University and Executive Director of the Seymour Institute for Black Church and Policy Studies. Rivers noted how intellectual trends of the past century, particularly relativism, philosophical materialism and nihilism, undermined our expectations of the role of civil society generally and religion specifically. She reviewed many contributions of the black churches to American society historically, especially including the Civil Rights movement where they provided a gathering place and spiritual foundation. She ended with studies examining the contributions made by urban ministries in their material, social, and personal assistance.

Her husband, Eugene Rivers, pastor of Azusa Christian Community in Dorchester, Massachusetts, closed the session. Rivers has been active nationally and internationally, advising the Bush and Clinton administrations on their faith-based initiatives and working with churches to address AIDS in Africa.

Rivers described his own ministry experience and, more broadly, how the common religious vision and commitment to love and forgiveness helps reduce social tensions. He then addressed what this means for Catholic universities. Faith-based universities such as the Mount can get students involved, but they also have an important academic duty to support the ministries intellectually, helping the world to understand the role of such ministries, and to balance secular social critiques with the real complexity of human needs and sinfulness. Rivers encouraged students combine high personal moral standards including their marriage and family ideals with concern for social justice.

Urban Ministries Lecture

On Tuesday, Sept. 13, Mount St. Mary’s University’s 2016 Annual Accounting Evening took place in the upper concourse of the ARCC. The event, sponsored by the Career Center, was the first in a month-long series designed for accounting majors to explore and discover internships and post-graduation employment. Bolte School of Business sophomores, juniors, seniors and MBA students majoring in accounting were highly encouraged to attend, and many took advantage of the opportunity. The evening served as a premier event for students to network as they met with potential employers and discussed career options.

Accouting Evening 2016

This year’s event was the largest to date, with twenty-two employers in attendance. Firms as large as KPMG, LLP, employing over 162,000 people world-wide, to local firms such as Smith Elliot Kearns & Company, LLC with a total staff of 150, sent representatives to recruit students. Over seventy employees attended with their respective firms, twenty-three of which were Mount alumni. Senior EJ Sullivan was in attendance as a representative of Kearney & Company, a CPA firm based out of Alexandria, VA that provides accounting, audit and information technology services executively to the Federal Government. EJ interned with the firm this past summer and has accepted a post-graduation employment offer. EJ connected with Kearney & Company at last year’s Accounting Evening.

The Mount’s Accounting Evening has continually proven to be a successful event, for not only the students, but the employers who return each year. Senior Michael Madura reflects on his experience. “Like any Career Fair, this one is a little nerve-wracking, however it’s great to be here and network with all the firms. An event like this is a great experience. I am definitely happy to be a part of it and I am excited for what the future brings!” Bolte School of Business accounting students continue to pursue opportunities offered by the Career Center as they explore and discover options for their future after the Mount.

"Under the influence of methodological abstraction, consciousness and freedom evaporate."
-Henri De Lubac
"The radical detachment of the Enlightenment philosophy from its roots ultimately leads it to dispense with man. The spokesmen of the natural sciences tell us that man basically does not possess any liberty—in total contradiction of the starting point of the whole question."
- Cardinal Ratzinger.

BB&T Center LogoBy its nature, a Catholic university explores the world through basic assumptions about human existence, particularly that we have some capacity for free and creative action, on the basis of reasoned understanding of eternal and universal ideals that can actually exist, and that civil society serves a crucial function in guiding the development of those capacities, and in passing on those ideas by which people act and shape their lives. How do we deal with such challenges in the quotations above, address them in our courses?
The foundation of the BB&T Center at Mount St. Mary’s University is to recognize that we cannot avoid making such assumptions about human nature and human capacity in either our social theory or in our moral reflection about economic phenomena.
We have designed a free workshop for Catholic high school teachers to provide an opportunity to explore those connections, resources to assist them in bringing them into their courses in practical and accessible ways, and a framework for connecting these themes with other courses.


Please consider joining the BB&T Center at Mount St. Mary's University June 15, 2016 from 9 a.m. - 4 p.m. for this free seminar.

Seminar Details

When:       Wednesday, June 15. 9 a.m.–4p.m.
Where:      Mount St. Mary’s University; Emmitsburg, Md.
Who:         Teachers and Administrators in Catholic High Schools
Cost:         Free, Includes Lunch

* The first 7 people to register will receive a $300 stipend for attendance *

Workshop Facilitators:

Facilitators will include both Mount St. Mary’s faculty, and teachers currently at Catholic high schools. Confirmed facilitators/presenters:

Philip Bauchan 

Philosophy, Religious Studies - Delbarton School, NJ

Alejandro Canadas

Associate Professor of Economics - Mount St. Mary’s University

Leyton Field

Assistant Professor of Sociology -  Mount St. Mary’s University

John Larrivee

Associate Professor of Economics & Director, BB&T Center for the Study of the Moral Foundations of Capitalism - Mount St. Mary's University

Contact Information

Email: or
Phone: (301) 447-5396

Rick Keller, an MPAS student here at the Mount, presented a paper at the Southeast Decision Sciences Institute (SEDSI) undergraduate student research paper competition held in Williamsburg, VA on February 19, 2016.  Rick won first place in the competition, really making the Richard J. Bolte School of Business proud. 

Rick Keller

Competing in the SEDSI undergraduate student research paper competition is a rigorous process.  Rick had to first submit his research paper through a double-blind review process where the reviewers, faculty members and the student’s identity is concealed. In addition to the review process, Rick had to make an oral presentation of his work at the conference.

One of the books used in the Operations and Supply Chain Management class is “The Goal” by Eliyahu Goldratt.  The concepts highlighted in this narrative driven book are applied in the context of a manufacturing  plant.  Rick adopted several concepts from “The Goal” and applied them to his real-estate business.  The challenging part of this research problem was being able to clearly delineate between the two contexts: processes in the manufacturing context and the real estate process.  For example, process times are typically known and constant; however, in the real estate business, the process times for each stage is different for each buyer. 

In his presentation, Rick was able to clearly show how the unique context of the real estate business required modifications to some of the original concepts. By making these adaptations, Rick was able to show marked improvement in his volume processing capacities, his bottom-line, and more importantly the additional available time that he now uses to spend time with his lovely family.Group

SEDSI is the southern member of the Decision Sciences Institute, a professional organization of academicians and practitioners interested in the application of quantitative and behavioral methods to the problems of society.


The Mount’s Federal Reserve Challenge team successfully competed completed against Loyola University, University of Maryland Eastern Shore, Towson University, McDaniel College, and America University and won the first round of the competition on October 30th.  The Mount’s team is now getting ready for the semi-finals November 20th at the Federal Reserve District Bank in Richmond.  If they win they will go on to the nationals on December 2nd at the Federal Reserve Board of Governors building in Washington, D.C.

Fed Challenge TeamThroughout the competition teams make presentations to a panel of monetary economists on their views of the current economy and recommendations for whether the Federal Reserve should target an increase in the federal funds interest rate. The Mount team’ presentation at Towson was crisp, lively, and well-articulated. The judges were also impressed by the way the team handled the question-and-answer section.

Captain Josh Donofry C’16 had this to say about his experience in Fed Challenge, “Ben Bristor C'16 and I have been on the Fed Challenge for past four years and we embraced the idea that we do not represent just ourselves, but also Mount St. Mary's and the Bolte School of Business.  Although we had come close winning in the past couple years, we were tired of just ‘coming close.’ We tried to make our presentation comprehensive while also bringing some levity to the ‘dismal science.’ We have always received an exceptional amount of support from everyone in the School of Business and we're extremely happy that we could put together a winning performance.”

We have a fabulous team this year:

Benjamin Bristor C’16 (co-captain, presenter)
Joshua Donofry C’16 (co-captain, presenter)
Sean Dailey C’17 (presenter)
Richard Grim C’17 (presenter)
Ryan McNeil C’17 (presenter)
Stephen Witkowski C’16 (presenter)

Captain Benjamin Bristor said that while the team they have this year is great they couldn't have done it without previous classes laying the groundwork for what the Fed Challenge team is today. Ben gave special recognition stating, "I’ve met and worked with a lot of fantastic people in my time here, starting in freshman year with people like Tyler Jones C'13, Mark Quaranta C'13, Brian Baldini C'13, Brandon Ziza C'13, and Tyler Giles C'15 and every year since then.  The one person, though, who has really been a blessing to be able to share this with is Josh Donofry, who every time we do this comes in with a completely unique and irreplaceable way of looking at the subject.  The School of Business and the Mount have always done their best to support the team, and we really do appreciate what they do."

If you see them in about campus be sure to congratulate them on a fantastic job!

Prof. Hoffman joined Mount St. Mary’s Richard J. Bolte School of Business as a full time faculty member in fall 2015. He has prior teaching experience as an adjunct professor at various colleges and universities including University of Maryland, Strayer University, and Montgomery College. He is also a frequent speaker, lecturer and instructor for professional and industry organizations and conferences.  

Prof. Hoffman’s research and writings focus on forensic accounting and fraud investigation matters. He is currently writing a book Larry Hoffmanentitled Trust is Not an Internal Control, A Small Business Guide to Preventing Fraud and expects its publication in 2016. He has also authored numerous articles and other resource materials on forensic accounting including in the areas of fraud investigation, prevention, and detection.

Prof. Hoffman is a practicing CPA with a specialization in forensic accounting and fraud examination. He has been involved in numerous high-profile cases as a consulting and testifying expert. He has performed forensic accounting services for governmental entities, public and private companies, nonprofits and individuals for over 30 years. He has performed forensic services in support of litigation and claims for lost earnings and profits, business interruption, shareholder disputes, intellectual property infringement, bankruptcy and restructuring and structural settlements; assistance with interrogatories, document requests and depositions; and serving as an expert witness. He has conducted and led teams of forensic accountants on fraud investigations ranging from small family-owned businesses to large governmental organizations with losses of over $500 million. He has performed and supervised valuations for individuals, estates and public and closely held companies in numerous industries. He has also assisted companies and nonprofits with restructuring and turnaround situations, including recapitalizations, reorganizations and liquidations.

Prof. Hoffman is a CPA licensed in the Commonwealth of Virginia. He is also a Certified Fraud Examiner (CFE), Certified in Financial Forensics (CFF) by the AICPA, a Certified Valuation Analyst (CVA), holds the Chartered Global Management Accountant (CGMA) designation from the AICPA, Certified in the Reid Technique of Interviews and Interrogations, and a Private Investigator (PI) licensed by the Virginia Department of Criminal Justice Services.

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