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Continued from previous page
An Education Cannot Be
Confiscated
When the Sandinista National Liberation Front took
control in Nicaragua in 1979, the very successful coffee
business started by Jose Antonio Baltodano's father all but
disappeared in sweeping nationalization. But there was
one thing they couldn't take away. "My father always told
us that a first-class education could not be confiscated,"
said Baltodano, W'73. Baltodano went to New York
where he applied his experience and Wharton education
to establish the Mercon Coffee Corp., which became one
of the world's leading suppliers of green coffee to the
international coffee roasting industry, with offices in
Latin America, Asia, Africa and Europe. "A Wharton education
gives you international connections, the ability to
learn from your mistakes, and flexibility in analyzing
different aspects not only of business but of a changing
world. That is part of the reason we wanted to give
something back to Wharton."
Baltodano's grandfather earned his medical degree
at Penn in 1893, his father earned his Wharton
undergraduate degree in 1939, and his brothers also are
alumni – Duilio J., W'70, and Alejandro, W'77. A member
of the Latin America Board, Baltodano and family
members helped spearhead a campaign to create a scholarship
fund for Latin American students, which has
swelled to over a quarter of a million dollars in pledges
with a goal of reaching $1 million. The fund has already
helped support two students from Honduras.
Baltodano also co-chaired the 4th Annual Regional
Alumni Meeting in Miami in June 2003. It was one of
the largest alumni gatherings in the region, with almost
200 participants, evidence of rising interest and enthusiasm
for the School over the span of the campaign. "The
change has been remarkable," he said. "I notice a lot
more alumni being involved in the School. We were able
to bring in alumni from almost every single country in
Latin America."
The connections for Baltodano and his family continue
to be personal. In September 2003, Baltodano was back
on campus with his daughter, who is considering applying
to the Wharton undergraduate program. He was
impressed by the improvements on campus. "I feel very
proud to be associated with an institution like Wharton
that is providing such a first-class education," he said.
The Underdog
Howard Marks, W'67, Chairman of Oaktree Capital
Management, LLC, in Los Angeles, evokes a distinctively
Philadelphian image to describe the challenges that the
Wharton School has tackled in sustaining its success
through the capital campaign. Sylvester Stallone's
character Rocky Balboa, dancing with raised fists on the
Philadelphia Art Museum steps, is a celebration of the
rise of a dedicated underdog to national champion. It
is an inspiring story, but as anyone who has seen the
sequels can attest, sustaining that greatness is a much
harder challenge.
"When you are an underdog, you can make a 'Rocky'
kind of move and come from behind," said Marks. "But
when you are successful, staying successful for ten years is
a great accomplishment, although it may not grab as
much attention. Perhaps the greatest accomplishment for
Wharton of the past ten years is the steadiness of the
excellence."
While the challenges of sustaining leadership continue,
the School is now well positioned for the future.
"Wharton's biggest problem five or ten years ago was its
physical plant," Marks said. "Conducting the campaign
and getting the building built to such incredible standards
was a real milestone over the past ten years.
Wharton has surged to the front ranks of business and
has achieved great recognition and has stayed there
through the ups and the downs."
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