Dear Friends, Annual letters about the family are popular at the end of a year. It seems to be traditional and appropriate to wind things up with a reminder of what has happened over the previous twelve months. Since I consider all of you part of the College of Commerce Family, I thought you might enjoy hearing about college activities and what some of our alumni and friends have been doing with and for us.

As I read over the various articles in this report to you, I am surprised at, and grateful for, how much has been accomplished this past year and how much you have made possible. The record is there to be savored. Each year I am astonished by the productivity of our people, for a year seems so short a time for so much to happen. I hope you will forgive what may seem like boasting, but I am proud of our accomplishments and yours. And I am eager to share them.

Everyone has a story to tell and I rather like stories--because I like people. I could fill several pages telling you about the many fascinating and wonderful people I have met this past year. I hope you were among them. If not, I hope we will have the opportunity to meet this coming year at college events or upon your return to campus. At the very least, why not share your "annual letter" with me. I am interested in learning what you have been doing and I would like to get to know you better.

This college has an impressive list of alumnae and alumni. Many (though not nearly enough) are listed in the latter pages of this volume because of their generosity to Commerce. All of us at the college are grateful that you have chosen to share your success with us in this tangible form. We take great pride in your many successes and accomplishments, much like proud parents. When you succeed, we look good.

The story of a university is a history of its people--its family. In the pages ahead you can read about some of the accomplishments of your faculty. Twenty-seven of them hold maned or endowed professorships or fellowships that your generosity made possible. Our students change each year, but we continue to be impressed and honored by their accomplishments, both while they are here and in the years beyond graduation. There is more about them in the pages ahead, too. I am always struck by the growth evident in so many of them while they are here, even in a year. Do you remember how much you changed during your years at Illinois? And how do they and how did you manage to accomplish so much in so short a time?

A sentiment echoed repeatedly in the pages that follow is how grateful our alumnae/i are for the education they received at Illinois. In my meetings with many of you throughout the year, I am often told how much your brief time on this campus has meant for your career and life. The foundation knowledge, those learning experiences away from home, and yes, those memories. Each year, your generosity makes it possible for a new generation to also share those experiences and prepare for their years ahead.

As you will read in the donor section of this report, there are many different ways to provide a helping hand to the college. This past year your financial assistance has frequently come to the aid of this college and its family. Scholarships provide crucial support for our students, especially in the face of the rising cost of education. Undesignated operating funds permit us to do things over and above what our state allowances provide. (The university receives only 33 percent of its support from Illinois general revenues.) New curricula have also been a product of your giving. Now, too, we can speak with more confidence about a new building, something we have needed badly for a long time. I would be remiss if I did not also acknowledge how much your general encouragement has meant to me and our college family, as well. Of course, there are things we wish we had gotten done this past year, and our plans for the coming year probably won't be realized either. Nevertheless, we are a year further along in our endeavors and are proud to report our accomplishments to you.

As is customary, annual letters also record sad events. Here at the college we mourn the recent loss of Vernon Zimmerman. He led this college to national prominence during his fourteen years as its dean. It was a particularly grievous loss to me, for he became my mentor in so many ways when I succeeded to this position. We will sorely miss him.

Well, that's it for this year. We look forward to meeting you and hearing from you in the year ahead. We will be back again next year, with our annual report (and during the year with Commerce InSight) about who is doing what--and about how much we appreciate all that you do to make it possible.

With warmest regards,

Howard Thomas, Dean and
James F. Towey Professor of Strategic Management