GREG ABEL

44 Pages·2013·7.02 MB·English

A L B E R T A
S C H O O L
of
of
GREG ABEL

WARREN BUFFETT’S
LEADER IN
ENERGY
GREG ABEL
LEADER FROM
ALBERTA FOR THE
WORLD
I get a lot of phone calls each day, and
I always make time for Greg when he calls
because he brings me great ideas and
is truly innovative in his thinking
and business approach.
Warren Buffett
ALUMNI

M A G A Z I N E
SPRING/SUMMER 2013
UUnniviveersrsitiyty o of fA Alblbeertrata
events ’13 contents
SPRING/SUMMER 2013
September 12 MBA Alumni and Student Mixer
[email protected], Calgary
September 18 CMA Golf Tournament 2 relentless about renewables - GREG ABEL
Windermere Golf and Country Club
[email protected], Edmonton
BUSINESS ALUMNI ASSOCIATION
4
September 25 - 29 U of A Alumni Weekend, Edmonton
7 first industries - first class - DAVE LEEWORTHY
September 28 Alberta School of Business Open House
Edmonton 9 young alumni mentorship - CARMELA & LINDSAY
October 9 22nd Henry Singer Award
Brian Hill, CEO, Aritzia 10 making sense of energy - CHRIS VILCSAK

October 16 Annual Report to the Community
Atrium, Enterprise Square 12 EVENTS
November 14 BAA Annual Dinner, Edmonton - BAA, MBA, U OF A
Greg Abel, ’84 BCom

Chairman, President, CEO
MidAmerican Energy Holdings Company 16 SCHOOL NEWS - TOP 100
Des Moines, Iowa
18 RELEVANT RESEARCH
this issue
copreneurship - DEV & JENNIFER JENNINGS
economic impact study - BRIGGS & JENNINGS

22 STUDENT PROFILE - LIANNE LEFSRUD
Energy and entrepreneurs are Alberta.
- CLIMATE CHANGE
ntrepreneurial thinking is us.
And entrepreneurial thinking is what it will take 24 STUDENT NEWS
to address the growing energy challenges, as Convocation, Study Tours
demonstrated by alumni throughout this issue,
including Greg Abel, Warren Buffett’s go-to energy guy. 28 PAGES IN TIME

Jack Ondrack, Alexander Batchvarov, Adesiji Rabiu
Innovative thinking is also at the core of the School’s

2013 research placement of top ten globally for
publicly-funded universities. We also have extra pages 30 CLASSNOTES - ENTREPRENEURSHIP
this issue on relevant research and global impact - two Evelyn Miller, Pat Kiernan, Tim Viinikka
priority areas for Dean Joseph Doucet.
Amit Monga, Abraham Nunes, Amir Reshef

And please don’t miss our entrepreneurs in action -
throughout our classnotes - and on television screens 40 UPLIFTING THE WHOLE PEOPLE
near you. - TEAM TAITE

Enjoy, Monica
www.business.ualberta.ca

Alberta School of Business Alumni Magazine is published twice a Dean: Joseph Doucet
year by the Alberta School of Business. If you would like an additional free Editor: Monica Wegner
subscription or would like to send in a comment or update your address, Assistant Editor: Wanda Vivequin
please contact us at: Design: Greg Miller
Backstreet Communications
External Relations, Alberta School of Business, University of Alberta
Printing: RR Donnelley
4-40 Business Building, Edmonton, Alberta Canada T6G 2R6
Cover: Scott Sinklier
e-mail: [email protected] web site: www.business.ualberta.ca
telephone: [phone] toll-free in Canada and the US: 1-877-362-3222
fax: [phone]
vertical logo ~ 4c green vertical logo ~ 4c black vertical logo ~ bw
horizontal logo ~ 4c green horizontal logo ~ 4c black horizontal logo ~ bw
Our history of great leadership continues with the appointment of Joseph Doucet, PhD, UC Berkeley, Dean, effective July 1, 2013.
Joseph has held the Stanley A Milner Chair in Leadership and has been Interim Dean since January 1, 2012;
he was also the School’s Enbridge Professor of Energy Policy between 2005 and 2010.
2 relentless about renewables - GREG ABEL

BUSINESS ALUMNI ASSOCIATION
4
7 first industries - first class - DAVE LEEWORTHY
9 young alumni mentorship - CARMELA & LINDSAY
10 making sense of energy - CHRIS VILCSAK

12 EVENTS
- BAA, MBA, U OF A Alumni Are, without doubt, our greAtest

AmbAssAdors. since becoming interim deAn in
16 SCHOOL NEWS - TOP 100
JAnuAry 1, 2012, meeting As mAny Alumni As

18 RELEVANT RESEARCH possible hAs been A top priority And this
will not chAnge. i look forwArd to
copreneurship - DEV & JENNIFER JENNINGS
continuing to build the reputAtion
economic impact study - BRIGGS & JENNINGS
of our greAt school together.

n
a
22 STUDENT PROFILE - LIANNE LEFSRUD hn Ul LEADERS FROM ALBERTA FOR THE WORLD
- CLIMATE CHANGE o
J
dit:
e
24 STUDENT NEWS oto Cr Joseph Doucet, Dean
h
Convocation, Study Tours P
28 PAGES IN TIME
Jack Ondrack, Alexander Batchvarov, Adesiji Rabiu
RALPH YOUNG, ’73 MBA, Chancellor, University of Alberta:

The appointment of Joseph Doucet is a very positive and important step to take the School to new heights. Through his tenure at the School and as
30 CLASSNOTES - ENTREPRENEURSHIP
Interim Dean, Joseph has demonstrated sound and effective leadership. His skill and passion to build the School through excellence in recruiting,
Evelyn Miller, Pat Kiernan, Tim Viinikka
teaching, research, alumni relations, and community engagement, have been recognized by all who have dealt with him. I applaud this appointment.
Amit Monga, Abraham Nunes, Amir Reshef
NEIL MANNING, ’71 MBA, President, Business Advisory Council:
40 UPLIFTING THE WHOLE PEOPLE
Joseph’s vision of “Leaders from Alberta for the World” has resonated well with all constituencies. In support of it, he has been fully engaged with our
- TEAM TAITE
members and alumni around the world while making certain that the School continues to compete globally for talent on all fronts. At the same time, his
door has always been open for students. I am confident Joseph will lead the Alberta School of Business to the highest levels!
CHENG HSIN-CHANG, ’06 MBA, President, Business Alumni Association:
I consider myself very fortunate to also have had Joseph as a professor where I saw firsthand Joseph’s vision of combining great teaching and research
with industry involvement and alumni get-togethers when he built the MBA specialization and applied research centre in energy and the environment.
I greatly value his genuine care for students throughout the learning process while preparing them for real world business applications as well as his
strong appreciation of the importance of alumni and the synergies among teaching, research, and industry.
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relentless about
renewables
G R E G A B E L
GREG WILL BE RECEIVING THE
A
phone call, if not a personal
U OF A’S HIGHEST HONOUR
visit to employees, clients, and
customers, are the preferred modes
- THE DISTINGUISHED ALUMNI
of communication for both Greg Abel and
AWARD - ON SEPTEMBER 25, 2013.
Warren Buffett. A focus on relationships
is a big part of the reason that Greg finds
himself on the road three of five days of the
GREG WILL BE THE KEYNOTE week. Warren, on the other hand, most often
prefers a conversation from his landline and,
SPEAKER AT THE BUSINESS ALUMNI
reportedly, still does not make much use of
ASSOCIATION’S ANNUAL DINNER a cellphone.
ON NOVEMBER 14, 2013.
ave Garst ott Sinklier
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WaRREN BUffETT: Regardless of the mode, however, the “importance of dialogue
around an opportunity is paramount to Warren,” shares Greg.
“He is able to assess the issues and risk quickly and articulates it
I get a lot of phone calls each day, and I always
simply. He is a great communicator – a great owner – a
make time for Greg when he calls because he great partner.”
The two generally converse every few weeks or so but spoke
brings me great ideas and is truly innovative in
almost daily in the leadup to the recent $5.6 billion deal.
his thinking and business approach.
Reported Bloomberg on May 30:
“Greg Abel, who helped build Berkshire Hathaway Inc’s utility
business MidAmerican Energy Holdings Co, is showing that he’s
GREG aBEl, ’84 BCom:
earned the trust of his boss, Warren Buffett, after striking a

$5.6 billion deal for Las Vegas-based NV Energy Inc., making it
I get a lot of phone calls each day, and I always the largest US utility owner by customer accounts.”
The deal came just two weeks after coming home to Alberta
make time for Don when he calls because he has
to announce, together with TransAlta Corporation, the creation
been a great influence on my life. His drive and of a new strategic partnership for the Fort McMurray West
Transmission Project, TAMA Transmission.
positive attitude speak volumes.
Coming home to Alberta is not a rare occurrence, however,

as Greg generally makes it home a few times a year to visit family
renewables DoN lUCky, ’84 BCom: and friends. He also enjoys hosting them at either his home or
lake cabin along with his wife, two sons, and two daughters and

also helps plan the annual weekend getaway with the boys
I am pleased and proud to recommend Gregory
from Alberta.
E Abel, Class of 1984, for the 2013 Distinguished Hockey is never far from the conversation. A competitive
hockey player throughout his youth, Greg would continue
Alumni Award. I was privileged to attend the U of A
playing when he moved to the US culminating in being a
with Greg and have followed the evolution of his member of the senior national champions and playing in the
world championships in Amsterdam. A proud hockey (and
career in the energy industry with admiration and
G R E G A B E L
ballet) dad, Greg also, when he can, tries to find the local cable
respect. Since that time, Greg’s career has evolved
feed for his friend’s son who plays today in the Alberta Junior
such that he is now recognized internationally as Hockey League.
And, while we might think that the Oilers are still his
a bona fide titan of industry.
favourite team, that honour has always belonged with the Detroit

Red Wings, as his cousin, the late Sid Abel or “Old Bootnose,”
as he was known, was the third member of the Red Wings’
WaRREN BUffETT:
celebrated “Production Line” along with teammates Gordie

Howe and Ted Lindsay.
I am pleased to recommend Greg Abel for the When he stops to reflect on his Alberta friends and family, he
University of Alberta Distinguished Alumni Award. stops for a moment and then says simply, “they lead very happy
lives . . . which is reflective of Canada.”
I met Greg when Berkshire Hathaway acquired a
Greg and Don Lucky, now an Edmonton-based lawyer with
majority of the outstanding shares of MidAmerican Reynolds Mirth Richards and Farmer LLP and a long-time
sessional in the Faculty of Law, are life-long friends. Friends since
Energy Holdings Company in 2000. Since that time,
grade school, the two would attend Bonnie Doon High School,
I have come to recognize Greg as my ‘go-to’ when share commerce class notes, and, in university, would even
both have part-time jobs at Levitt Safety where they filled fire
it comes to the energy industry.
SSPPRRIINNGG//SSUUMMMMEERR 22001123 33
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Topaz Solar Farms, a 550-megawatt photovoltaic power plant being built in
San Luis Obispo County, California, will generate enough electricity to offset
approximately 9.4 million metric tons of carbon dioxide over 25 years.
extinguishers. Perhaps this latter experience played a small part in And, in Greg’s case, one of those right people is Thomas
Greg’s relentless focus on safety today. Vilsack, former Governor of Iowa, and, now, Secretary of
A finance major to start, Greg would change to accounting Agriculture, who also wrote a letter of recommendation
as his major and complete his CA designation with for Greg in which he said:
PricewaterhouseCoopers. Choosing a transfer to their San
“GREG HAS MADE AND
Francisco office over Toronto and, later, accepting a job offer
from a client, CalEnergy, would be the beginning of his great US CONTINUES TO MAKE IOWA
adventure. A focus on obtaining relevant operational experience
A GREAT PLACE TO DO
would also become part of his best practice for management.
BUSINESS. ONE OF GREG’S
GREATEST ACCOMPLISHMENTS
SOLAR - WIND -
HAS BEEN HIS ABILITY TO
GEOTHERMAL -
EDUCATE LAWMAKERS AND
OTHER STAKEHOLDERS ABOUT
HYDRO - GAS
THE BENEFITS OF RENEWABLE
ENERGY. TODAY, IOWA IS
One could also say, Greg returned home to California
A LEADER IN RENEWABLE
recently where he has continued his passion, investment, and
vision into renewable energy with the construction of the ENERGY, SPECIFICALLY WIND
world’s largest solar projects. Already known globally for his
ENERGY, BECAUSE OF
leadership with wind farms in Iowa, Greg oversaw the formation
of MidAmerican Renewables in 2012, which now includes solar, GREG’S GUIDANCE.”
wind, geothermal, and hydro assets. It is perhaps a vision and
lesson that Alberta could learn from as Greg made a conscious
decision 12 to 13 years ago to diversify. “If we wanted to be an
energy player in the long run, we needed to capture renewable When Greg joined MidAmerican, the communication
resources such as wind. We already had low electricity rates but team had him review their tagline:
I did not want stop there. You need to go to the next level - the MidAmerican is obsessively, relentlessly at your service.
next evolution - and identify what would complement it. You He was surprised how easy it was to okay it. Perhaps it
need to take a longer vision. And, as Warren has taught him, “you was because it also represented him so well:
need to look forward.”
You can also not do it alone, Greg continues. “We need to
GREG ABEL – OBSESSIVELY, RELENTLESSLY YOUR FRIEND.
have good policies in place which requires an actual discussion
and the right people at the table who are absolutely committed.” GREG ABEL – OBSESSIVE, RELENTLESS ABOUT THE FUTURE.
GREG ABEL – A LEADER FROM ALBERTA FOR THE WORLD.

44 AALLBBEERRTTAA SSCCHHOOOOLL OOFF BBUUSSIINNEESSSS
Photo Credit: Erick Wand Photo Credit: Scott Sinklier
GREG ABEL

Chairman, President and CEO
MidAmerican Energy Holdings Company
Des Moines, Iowa

MIDAMERICAN ENERGY HOLDINGS COMPANY (YEAR-END 2012)
Operating Revenue $11.5 billion
Total Assets $52 billion
Customers - Electric 6.4 million
Customers - Natural Gas 0.7 million
Total Generation Capacity:
More than 23,500 megawatts (owned and contracted)
Total Electricity Distributed 117 billion kilowatt-hours
Total Natural Gas Supplied 1.96 billion decatherms
Electricity Transmission and Distribution Lines 178,000
Natural Gas Transmission and Distribution Pipelines 39,000 miles
Natural Gas Transmission Pipeline Design Capacity:
(approximately 7.7 billion cubic feet per day in-service).
Total Employees 16,000

MIDAMERICAN RENEWABLES (ESTABLISHED 2012)
Total Owned Generation Capacity 2,579 megawatts
- Solar Capacity 1,271 megawatts
- Wind Capacity 381 megawatts
- Geothermal Capacity 164 megawatts
- Hydro Capacity 5 megawatts
- Natural Gas Capacity 758 megawatts

Go to www.midamerican.com to take a virtual tour through a wind
Since 2004, MidAmerican Energy Company has added
facility and experience how wind is used to generate electricity for
2,285 megawatts of new wind resources in Iowa and has power
purchase agreement for 109 megawatts of wind-powered capacity. homes and businesses.
SSPPRRININGG/S/SUUMMMMEERR 2 2001133 5 5
B U S I N E S S
JAMI DRAKE
alumni association
Formed in 1988, the University of Alberta Business Alumni Association represents
BRAnch
more than 25,000 BCom, MBA, and PhD graduates of the Alberta School of

contact list
Business with branches across Canada and around the world.
CALgAry: Karen Taguchi, ’86 BCom
[email protected]
TO
EDMOntOn: Cheng Hsin-Chang, ’06 MBA
[email protected]
CONTRIBUTE
HOng KOng: Trevor Mak, ’84 MBA, ’82 BCom
[email protected]
BUSINESS ALUMNI ENGAGEMENT FUND
LOnDOn and nEW yOrK: BAA 25TH ANNIVERSARY - 1988 - 2013
[email protected]
OttAWA: Lee Close, ’85 BCom Thanks to Dave and Leslie Leeworthy who are founding donors of the
[email protected]
Business Alumni Engagement Fund created in honour of the BAA’s
SAn FrAnCISCO: Melynnie Rizvi, ’95 BCom 25th Anniversary. Contributions will help build on the success of the BAA
[email protected] Dinner and BAA Golf Tournament to fund and support a growing number
of educational opportunities for current students, as well as alumni
VAnCOUVEr: Alvin Chow, ’91 BCom
engagement and networking initiatives. For more information please
[email protected]
contact [email protected].
VICtOrIA: Brenda Yanchuk, ’89 MBA
TO SIGN UP
[email protected]
BAA GOLF TOURNAMENT - CMA CUP
SEPT 18 - WINDERMERE GOLF AND COUNTRY CLUB

keep in touch
First Industries Corporation was
Please take a moment to update
again the first to sign up as a hole
your current contact information
sponsor for the upcoming BAA Golf
and send a classnote for a future
Tournament. The success of the 2012
issue of business Alumni Magazine.
tournament ensured the BAA is now
able to offer three scholarships to
Please go to page 32 or visit
Business students in perpetuity. The
business.ualberta.ca/alumni
BAA Scholarship Endowment Fund
JOIN facebook now totals over $120,000. Please

contact jami.drake@ualberta for
U of A Business Alumni Association (BAA)
and remaining golfing and/or
JOIN LinkedIn sponsorship opportunities.

http://tinyurl.com/baa-linkedin Gerry Fardoe, ’88 MBA, and Dave Leeworthy, ’88 MBA, at the 2012 BAA Golf Tournament.

Both are looking forward to their 25th MBA Reunion Weekend in Kelowna September 20 - 22.
6 ALBERTA SCHOOL OF BUSINESS
by Cheng Hsin-Chang, President BAA

DAVE LEEWORTHY - FIRST CLASS
Over my past six years of volunteering with the Business Alumni His own early stage mentors included Don Farnell and Lorne
Association, I have had the great pleasure of meeting hundreds of Kendall at North West Trust Company. A significant personal
alumni who are not only successful people but people of substance mentor was his late father-in-law Dr H Paige Harrison, a
and good character who are unique and generous. I am honoured U of A professor of agricultural engineering. An appreciation
to share a few observations of David Leeworthy, ’88 MBA, for mentorship and education is ever evident.
President and CEO of First Industries Corporation, which operates Dave is also one of the rare executives who I have seen take full
a number of heavy truck dealerships under the First Truck banner. advantage of the value added programs from the Alberta School
Dave is the type of business executive who should be the of Business. He and his staff have been at more than one Eric
prototypical model but seems much harder to find today. Dave Geddes Lecture where at the end of the breakfast you will not
has a science degree, education degree, and an MBA, all from the see him rushing off. Rather, you will find him taking the time to
U of A. I believe diverse degrees lead to more decisive decision- speak with his staff on the topics presented.
making and can see it in the way Dave thinks and operates. From personal experience, I also know that a career path
He has also not left his education knowledge behind as I have does not always immediately reveal itself and appreciate Dave’s
observed him to be the constant teacher. inspiration and encouragement there. I can remember that Dave
Dave and I first met when he started to volunteer as an told me his first job out of the MBA program was with the
MBA mentor for first-year students. I have seen his approach to Government of Alberta; I think he lasted a month as an economist.
mentoring through teaching and sharing his experiences where I don’t know many recent graduates who would be so bold as
he has a keen ear for listening to the details and quietly makes to quit their first jobs out so quickly. But again, the diversity in
suggestions. This framework is built around guidance and the experience is what I believe gave Dave the vision and confidence to
building up of confidence in these students. Having mentors know that it was not a good fit.
early in one’s career is particularly important to Dave. Continued on page 8
TAKE A DIvE - BE A MEnTOR - FInD A GUIDE
A Mexican cenote:
Guide, Chris Leeworthy, ’12 BCom; Dave Leeworthy, ’88 MBA
SPRING/SUMMER 2013 7
BUSINESS alumni association
Chris Leeworthy, ’12 BCom and Dave Leeworthy, ’88 MBA.
Dave shared with me during the decision to donate that he
and his wife Leslie had never felt that just donating money was a
valid solution. Rather that business students/graduates need to
carve their own future, show leadership, and take the initiative.
After all, that is how they had approached their careers. But,
as they saw their son complete his BCom degree, they noticed
that the landscape of education and careers had changed. It
takes more than a classroom degree to be competitive: students
Dave would then spend six years with North West Trust
need the opportunities to engage in international field studies,
Company and eventually worked through their sale to
case competitions, mentorship and community service links to
Canadian Western Bank. Again, Dave could have taken a
develop all the skills required for business.
more conservative path in banking but opted to join what
was then a relatively small trucking company which had
just gone through a merger with a Lloydminster operation. AND, IF THERE WAS ONE MORE
What did Dave know about trucking? Nothing! But he saw
SKILL HE WOULD ADVISE
an opportunity. A company poised to make an impact and an
opportunity to manage growth and apply strategic value. STUDENTS AND LEADERS TO
And grow it did. Dave joined First Truck Centre in a
DEVELOP, IT WOULD BE DISCIPLINE,
rather non-descript position in 1995, would quickly oversee
a major restructuring, and, later, implement an employee WHICH FOR DAVE TAKES HIM
shareholder program. In 1994, there were about 95 employees
BACK TO HIS BOxING DAYS IN
with $59 million in revenue. Today, First Industries has
expanded from one to two offices in Edmonton, has expanded CALGARY WHERE HE GREW
the Lloydminster location, and acquired a languishing
UP AND COMPETED HARD
Vancouver operation in 2008. Currently, First Industries has
393 employees with $239 million in revenue. All are “nicely TO EARN TWO GOLDEN GLOVES
profitable,” Dave shares, most modestly.
TITLES. A FINAL PIECE OF ADVICE?
Dave has been a great volunteer mentor and has given
back through the most valuable assets he has, his time and PREPARE – ADAPT - DON’T BE AFRAID
expertise. But, recently, Dave also became a founding donor
TO JUMP INTO THE RING. AND
to the Business Alumni Engagement Fund. I believe that the
REMEMBER - GOOD MANAGEMENT
difference maker in his decision to donate was founded on
the BAA’s commitment to continue the education process IS DOING THINGS RIGHT;
with all alumni through mentorship, networking, and
GOOD LEADERSHIP IS DOING
support of students outside of classroom studies.
THE RIGHT THINGS.
8 ALBERTA SCHOOL OF BUSINESS