The Maturation of Shane

Navigating life, finance, and business as seen through the eyes of Shane.

Archive for December, 2007

I May Fall Short

Posted by Shane on December 26, 2007

“[I] may fall short in my execution but never in [my] commitment”

First of all, Merry Christmas and a Happy New Year to everyone out there. Okay, Christmas is already over, but it’s never too late to wish it was merry. If you are still on your extended vacation, enjoy it you lucky person. If you are back in the office, or in school, or whatever work is to you, great, misery loves company.

Last week, I heard back from the University of Chicago GSB as to the status of the admissions committee decision: Denied. The next day, I also heard back from Wharton’s admissions committee: Denied. Well, there goes months of wishing and worrying. The decision is now made known; there is no longer a need to agonize. Back to back denials though have a unique way of persuading one to revisit the entire application process in order to find out where one might have steered off course.

Notwithstanding the disappointing news, I decided to keep plowing forward with my decision to apply for a spot at business school for the upcoming 2008 term. I believe I am worthwhile candidate for business school, and if I have not succeeded in getting my message to Wharton or Chicago, then the solution is simple: I need to retool the message to ensure that it is indeed properly conveyed to admission committees. Over the Christmas break, I took advantage of the available time to rework my essays and applications for a few schools I saved for the second round. If the message had ever been vague at first, I made certain that it is as direct as possible in these revised essays. I revisited key sections of my essays especially the Why MBA? Why Now? and Why this School? questions. Going through the essays, I tried to keep four main points clear and concise;

  1. Leadership / Teamwork skills
  2. Academic Abilities and Initiative (Entrepreneurship Spirit)
  3. Courage
  4. Maturity

Hopefully, I can gain admission to business school this term and begin the steps needed to transition to a career in Mergers & Acquisition advisory at an Investment Bank.

What about the quote in the beginning? Well, the quote was given by the CEO of the company, which I’m currently employed, at the recent earnings call. The quote was delivered after several quarters in which the company’s attempt to increase shareholder value (or stock price) was unfruitful. I remembered this quote during the break “We may fall short in our execution, but never in our commitment” while agonizing over whether I had what it took to continue. As per his words of wisdom, I fully realize that though I might have failed in my attempt for an acceptance at Wharton or Chicago, I should not let such failed execution deter my persistence. If I truly believe that matriculation at a business school is the most accelerated, rigorous and integrative path to allow for the success transition into this new career that I seek, then I must always continue to fight for it.

Posted in Career, Schooling | Tagged: , | 1 Comment »

Baseball Dirty Little Secret

Posted by Shane on December 13, 2007

I try to keep sport discussion out of this blog, but the report by George Mitchell on the state of steroids in baseball is worth noting. Here is a link to an ESPN article. Apparently, just about all our favorite players have been exposed to either steroids, growth hormones, or performance enhancing drug.

Mitchell report: Baseball slow to react to players’ steroid use

ESPN.com news services

Updated: December 13, 2007, 3:32 PM ET

NEW YORK — Roger Clemens, Miguel Tejada and Andy Pettitte were among 75 players named in the long-awaited Mitchell report on Thursday, an All-Star roster linked to steroids and other performance-enhancing drugs that put a question mark — if not an asterisk — next to some of baseball’s biggest moments.

Barry Bonds, already under indictment on charges of lying to a federal grand jury about steroids, and Gary Sheffield also showed up in Major League Baseball’s most infamous lineup since the Black Sox scandal.

The report by former Senator Majority Leader George Mitchell, who was hired by commissioner Bud Selig to examine the Steroids Era, blamed both players and management for the problem. Among the detailed conclusions of Mitchell’s 20-month investigation:

  • “For more than a decade there has been widespread anabolic steroid use” in baseball, he said.
  • “Everyone involved in baseball over the past two decades — commissioners, club officials, the players’ association and players – shares to some extent the responsibility for the steroids era,” Mitchell said. “There was a collective failure to recognize the problem as it emerged and to deal with it early on.”
  • Mitchell and his staff interviewed former New York Mets clubhouse attendant Kirk Radomski on four occasions. Radomski identified a number of former and current players he said he sold steroid and human growth hormone to. Checks and money orders, mailing receipts or shipments, and statements of other witnesses were used to back up Radomski’s allegations. Much of this was found in Radomski’s seized telephone records.
  • Brian McNamee, a former New York Yankees trainer who worked with pitchers Clemens and Pettitte, was interviewed three times by Mitchell, with a personal lawyer and federal law enforcement officials in the room.
  • Clemens, whose Hall of Fame-esque credentials include 350 victories, seven Cy Young Awards and the 1986 AL MVP award, was singled out in eight pages, with much of the information on him provided by McNamee.

Page 169 of the report reads, “According to McNamee, from the time that McNamee injected Clemens with Winstrol through the end of the 1998 season, Clemens’ performance showed remarkable improvement. “During this period of improved performance, Clemens told McNamee that the steroids ‘had a pretty good effect’ on him.”

McNamee also told investigators that “during the middle of the 2000 season, Clemens made it clear that he was ready to use steroids again. During the latter part of the regular season, McNamee injected Clemens in the buttocks four to six times with testosterone from a bottle labeled either Sustanon 250 or Deca-Durabolin.”

  • The report says Pettitte, from April 21 to June 14, 2002 when he was on the disabled list with elbow tendonitis, he “wanted to speed his recovery and help his team.” The report says “McNamee traveled to Tampa at Pettitte’s request and spent about 10 days assisting Pettitte with his rehabilitation. McNamee recalled that he injected Pettitte with human growth hormone that McNamee obtained from Radomski on two to four occasions. Pettitte paid McNamee for the trip and his expenses; there was no separate payment for the human growth hormone.”

It continued: “According to McNamee, around the time in 2003 that the BALCO searches became public, Pettitte asked what he should say if a reporter asked Pettitte whether he ever used performance enhancing substances. McNamee told him he was free to say what he wanted, but that he should not go out of his way to bring it up. McNamee also asked Pettitte not to mention his name. McNamee never discussed these substances with Pettitte again.

“After the 2001 season, Pettitte, like Clemens, continued to use McNamee’s services and to serve as a source of income after McNamee was dismissed by the Yankees. In a 2006 article, Pettitte ‘acknowledged an ongoing relationship’ with McNamee. Pettitte was quoted as having said that he still talked to McNamee about once a week. ‘ “

“After we read the report, we will have something to say,” said Randy Hendricks, the agent for Clemens and Pettitte.

  • Several former MLB players and strength and conditioning coaches were also interviewed.
  • Each player named was invited to meet with Mitchell if their name came up in his investigation. Mitchell said almost all current players refused to meet with him.
  • Response to the problem from both baseball and its players was slow to develop and was initially ineffective.
  • There is evidence the problem wasn’t isolated to one club. Many players were involved. Each club has had a player involved.
  • Mitchell’s investigation found that some players were given a heads-up to drug tests.
  • In his report, Mitchell wrote he was against commissioner Bud Selig disciplining players — those named in the report or not — for past violations of baseball’s rules against using performance-enhancing substances “except in those cases where he determines that the conduct is so serious that discipline is necessary to maintain the integrity of the game. I make this recommendation fully aware that there are valid arguments both for and against it.”

George Mitchell bio

  • Age: 74
  • Former US Senator (D-Maine), May 1980-Jan. 1995
  • Chairman, Walt Disney Company, March 2004-Dec. 2006
  • Currently Chairman of the Global Board, DLA Piper (law firm)
  • Chaired negotiations for Belfast Peace Agreement in Northern Ireland (1998)
  • Director, Boston Red Sox

• Head of investigation into past steroid use by MLB players

  • Mitchell’s conclusions:

There has been a great deal of speculation about this report. Much of it has focused on players’ names, how many and which ones. After considering that issue very carefully I concluded that it is appropriate and necessary to include them in this report. Otherwise I would not have done what I was asked to do: to try to find out what happened and to report what I learned accurately, fairly, and thoroughly. While the interest in names is understandable, I hope the media and the public will keep that part of the report in context and will look beyond the individuals to the central conclusions and recommendations of this report. In closing, I want to emphasize them:

• 1. The use of steroids in Major League Baseball was widespread. The response by baseball was slow to develop and was initially ineffective. For many years, citing concerns for the privacy rights of the players, the Players Association opposed mandatory random drug testing of its members for steroids and other substances. But in 2002, the effort gained momentum after the clubs and the Players Association agreed to and adopted a mandatory random drug testing program. The current program has been effective in that detectable steroid use appears to have declined. However, that does not mean that players have stopped using performance enhancing substances. Many players have shifted to human growth hormone, which is not detectable in any currently available urine test.

• 2. The minority of players who used such substances were wrong. They violated federal law and baseball policy, and they distorted the fairness of competition by trying to gain an unfair advantage over the majority of players who followed the law and the rules. They  the players who follow the law and the rules  are faced with the painful choice of either being placed at a competitive disadvantage or becoming illegal users themselves. No one should have to make that choice.

• 3. Obviously, the players who illegally used performance enhancing substances are responsible for their actions. But they did not act in a vacuum. Everyone involved in baseball over the past two decades  Commissioners, club officials, the Players Association, and players  shares to some extent in the responsibility for the steroids era. There was a collective failure to recognize the problem as it emerged and to deal with it early on. As a result, an environment developed in which illegal use became widespread.

• 4. Knowledge and understanding of the past are essential if the problem is to be dealt with effectively in the future. But being chained to the past is not helpful. Baseball does not need and cannot afford to engage in a never-ending search for the name of every player who ever used performance enhancing substances. The Commissioner was right to ask for this investigation and report. It would have been impossible to get closure on this issue without it, or something like it.

• 5. But it is now time to look to the future, to get on with the important and difficult task that lies ahead. Everyone involved in Major League Baseball should join in a wellplanned, well-executed, and sustained effort to bring the era of steroids and human growth hormone to an end and to prevent its recurrence in some other form in the future. That is the only way this cloud will be removed from the game. The adoption of the recommendations set forth in this report will be a first step in that direction.

Also:

  • On page 121 of the report, under a heading “players requested to be interviewed,” Jason Giambi is the only player in the Bay Area Laboratory Co-operative probe who participated in Mitchell’s investigation. This portion of the report read:

“Concerning BALCO and Major League Baseball I requested interviews of all the major league players who had been publicly implicated in the BALCO case: Marvin Benard; Barry Bonds; Bobby Estalella; Jason Giambi; Jeremy Giambi; Armando Rios; Benito Santiago; Gary Sheffield; and Randy Velarde. Jason Giambi agreed to be interviewed, and Randy Velarde provided information through his attorney. All the other players implicated in the BALCO case refused my requests to be interviewed or did not respond to them. Gary Sheffield initially declined my request for an interview. Sheffield later said that he would agree to an interview, subject to the availability of his lawyer who was undergoing medical treatments.”

Clemens, Miguel Tejada and Pettitte were named in the report, an All-Star roster linked to steroids and other performance-enhancing drugs that put a question mark — if not an asterisk — next to some of baseball’s biggest moments.

Eric Gagne, Troy Glaus, Gary Matthews Jr., Brian Roberts, Paul Lo Duca, Rick Ankiel and Jay Gibbons were among other current players named in the report. Some were linked to Human Growth Hormone, others to steroids. Also mentioned in the report is Tejada, who was dealt from Baltimore to Houston Wednesday.

“We identify some of the players who were caught up in this drive to gain a competitive advantage,” the report said. “Other investigations will no doubt turn up more names and fill in more details, but that is unlikely to significantly alter the description of baseball’s ’steroids era’ as set forth in this report.”

Mitchell released his report at a news conference in New York City. Selig will hold his own news conference at 4:30 p.m. ET.

Barry Bonds, already under indictment on charges of lying to a federal grand jury about steroids, also showed up in baseball’s most infamous lineup since the Black Sox scandal.

It was uncertain whether the report would result in any penalties or suspensions.

Several stars named in the report could pay the price in Cooperstown, much the way Mark McGwire was kept out of the Hall of Fame this year merely because of steroids suspicion.

“Former commissioner Fay Vincent told me that the problem of performance-enhancing substances may be the most serious challenge that baseball has faced since the 1919 Black Sox scandal,” Mitchell said in the 409-page report.

“The illegal use of anabolic steroids and similar substances, in Vincent’s view, is ‘cheating of the worst sort.’ He believes that it is imperative for Major League Baseball to ‘capture the moral high ground’ on the issue and, by words and deeds, make it clear that baseball will not tolerate the use of steroids and other performance-enhancing drugs.”

Information from The Associated Press is included in this report.

Among those the media already claiming are named are key star both current and retired such as Brady Anderson, Manny Alexander, Rick Ankiel, Jeff Bagwell, Barry Bonds, Aaron Boone, Rafaeil Bettancourt, Bret Boone, Milton Bradley, David Bell, Dante Bichette, Albert Belle, Paul Byrd, Wil Cordero, Ken Caminiti, Mike Cameron, Ramon Castro, Jose and Ozzie Canseco, Roger Clemens, Paxton Crawford, Wilson Delgado, Lenn y Dykstra, Johnny Damon, Carl Everett, Kyle Farnsworth, Ryan Franklin, Troy Glaus, Rich Garces, Jason Grimsley, Juan Gonzalez, Eric Gagne, Nomar Garciaparra, Jason Giambi, Jeremy Giambi, Jose Guillen, Jay Gibbons, Juan Gonzalez, Clay Hensley, Jerry Hairston, Felix Heredia, Jr., Darren Holmes, Wally Joyner, Darryl Kile, Matt Lawton, Raul Mondesi, Mark McGwire, Guillermo Mota, Robert Machado, Damian Moss, Abraham Abraham Nunez, Trot Nixon, Jose Offerman, Andy Pettitte, Mark Prior, Neifi Perez, Rafael Palmiero, Albert Pujols, Brian Roberts, Juan Rincon, John Rocker, Pudge Rodriguez, Sammy Sosa, Scott Schoenweiis, David Segui, Alex Sanchez, Gary Sheffield, Miguel Tejada, Julian Tavarez, Fernando Tatis, Maurice Vaughn, Jason Varitek, Ismael Valdez, Matt Williams and Kerry Wood. – Source of names unknown

This report confirms what I, and most fans, already know to a reality. Steroids and performance enhancing drugs are prolific in baseball. Now that this is out of the woodworks, let’s just sit back and enjoy a new era of steroid-improved sports.

I’ve accepted it. So will America.

See the complete report here.

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I Let It Out

Posted by Shane on December 13, 2007

Side Note: I’ve updated the Terms and Conditions page. Nothing on the page should be problematic for any reader but please, visit the pages as the terms and conditions do apply to this Blog.

For a while, I have kept the keys date of acceptances and rejections for the schools I applied from all friends, families and co-workers. I was unsure how this entire process will play out, and so I favored keeping everyone in the dark. Rather than the peaceful and quite recluse I sought from my silence, I received instead a constant barrage of questions and comments from everyone seeking the current status of the applications. So I have relented.

I targeted the first round for five different schools, and have gotten mixed results from all the schools that I applied. In as far as I know, here are their statuses;

Harvard Business School (HBS): I completed and submitted the HBS application on October 2nd, 2007. Still till this moment, I have yet to hear from HBS about an interview. HBS is unique in that the school does accept a minority (10%) of its student body without an interview, but the other 90% of its acceptance class must be interviewed prior to their acceptance. My application currently stands as Submitted on the application page. The page also states that HBS will send out interview invites up until the notification deadline for all acceptances on January 16th.  

University of Pennsylvania (Wharton): I completed and submitted Wharton’s application on October 10th, 2007. I received an Interview Invite and completed an On-Campus Interview on October 30th. The interview was held by a 2nd year student studying finance. The interview was conversational, and went into my background, what I planed to accomplish with a MBA and why Wharton. I enjoyed the interview and, from my perspective, it seemed positive interview overall. I will be informed of the admission committee’s decision (acceptance, denial, or waitlist) on December 20th.

University of Chicago (GSB*): I completed and submitted the Chicago GSB application on October 17th, 2007. I received an Interview Invite and completed an On-Campus Interview on October 19th. The interview was also held by a 2nd year student. The interview was more formal, although still conversational. I will be informed of the admission committee’s decision on December 19th.

Stanford University (GSB*): I completed and submitted the Stanford GSB application on October 22nd. I had accidentally attached the wrong essays for one of the Stanford prompts. Although I called and had the proper essay attached to my application, I think the mistake has already doomed my application. I am in the same situation here as HBS. I can only hope for an interview before the notification deadline on January 18th.

University of California, Los Angeles (Anderson): I completed and submitted Anderson’s application on October 23rd. No word about my application from Anderson. I’ve filed this in the same category as HBS and Stanford GSB. I will know of the final result on January 18th.

So there you have it, my application status in a nutshell.

* GSB stands for the Graduate School of Business.

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