The Tower will be bathed in orange light on Wednesday to celebrate a McCombs  School of Business victory in the Deloitte FanTAXtic Case Competition. McCombs’ five-person team took home a $10,000 reward for the University of Texas at Austin, $2,000 in personal scholarships for each team member, and the priceless pride that comes from defeating the defending champion, the College of William and Mary. The national competition was held at Deloitte University in Dallas from Jan. 18-20. The team, made up of David Patterson, MPA, Scott Huff, MPA, Maggie Hood, BHP/finance, Michelle Niakan, MPA, and David O’Neill, accounting, first competed against seven regional teams in early November. The teams were given several weeks to prepare a presentation on a complex business tax case regarding partnership tax and international tax codes.

Then, the winning teams from each of the nine regions across the United States met to compete for the national title. For the national event, however, the teams were given only general areas to research prior to the competition. Once they arrived in Dallas, they were given the new case and two hours to prepare a client memo, which they then presented to the “client” judges. The following morning, they were given new facts, more questions, and three hours to create a presentation.

Patterson said the hardest part of the competition was working so quickly with so much new information.

“The national competition was really high pressure because we had never seen any of the facts,” Patterson said. “We had a general idea of what they would ask, but we didn’t have any of the numbers or questions.”

O’Neill said he is thankful for the experience because it gave him a better understanding of what to expect in the future.

“This is a beneficial experience because I get to see what tax professionals do on a day to day basis,” O’Neill said. “It is good to apply what you learn in class to what you do in the job.”

Patterson and O’Neill agreed that one of the most rewarding aspects of the competition was the friendships formed.

“I definitely think that it was a valuable experience, and I would recommend it for anyone. There is a lot of pressure, but there is a pressure in the real world with deadlines, also,” Patterson said. “You’re also working with a team that’s very smart, and that’s a lot of fun. It’s nice to have that experience and build camaraderie amongst the team.”

Reposted from: McCombs Today, University of Texas Homepage

Thousands of fans raced to the Circuit of the Americas racetrack Nov. 16-18 for Austin's first Formula One Grand Prix. Lewis Hamilton may have won the race, but McCombs alumnus Peter Chan, BBA '94, experienced a business victory of his own. Chan is the managing director of Lighthouse Technologies, the Hong Kong-based company that manufactured the LED video screens around the Circuit of the Americas racetrack. Lighthouse installed 21 LED screens: two in the grandstands, three in the pit and 16 around the rest of the circuit. Chan says the opportunity to work with Texas Star, Lighthouse's U.S.-based display provider, created a better experience for spectators (including himself) through high-tech signage and video.

"The partnership with the circuit brings a new standard of fan immersion to the world of motor racing," Chan said. "…The screens brought great visual clarity, color reproduction, minimal time delay for livecast and excellent reliability. All of these are very important to maximize the enjoyment and excitement of the race for spectators."

Chan moved to Hong Kong after his graduation from UT because of the booming technology and communications industry in China and around Asia. He joined Lighthouse in 2006 and became managing director in 2008. He said Senior Lecturer Herb Miller, his professor turned mentor and friend, helped him achieve his success and kept him connected with the McCombs School of Business.

Miller, who has known Chan for over 20 years, said that his former student is an exemplary representative for McCombs in the worldwide marketplace. "The fact that Red McCombs himself contributed so significantly to the inaugural Formula One Grand Prix race, and Peter's unique product involvement, speaks volumes for the global reach of our business school," Miller said.

"The bonds formed from the intensive learning at McCombs will last a lifetime, providing friendships, contacts and networks that serve me well in an increasingly inter-reliant world of business," Chan said. "McCombs encouraged me to think differently, to look at operations in a new way and to relentlessly question and challenge. It also had a significant impact on how I think, decide, act and relate to real-time current business challenges. It has definitely helped me to raise my bar and achieve more in a global context."

Reposted from McCombs Today