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Deanna Oppenheimer, Bruce Kennedy and Ivar Haglund Hall of Fame laureates for 2016

The Seattle banker who became one of the world's most influential women in banking, the man who set Alaska Airlines on the road to national leadership in its industry and Seattle's clown king of fish and chips have been selected as 2016 laureates of the Puget Sound Business Hall of Fame.

Deanna Oppenheimer, who built her reputation at Washington Mutual then became a key executive at Barclay's Bank, guiding its U.K. operations, is still active as founder of CameoWorks and a member of several international boards. Both Bruce Kennedy, who turned Alaska Airlines from a struggling small carrier to a national leader in its industry, and Ivar Haglund, who founded and guided the growth of Ivar's seafood restaurants, are both deceased.
 
All three will be honored April 21 at the annual Hall of Fame induction banquet at the Waterfront Marriott as the three will join 115 other icons of regional business as laureates selected since the Business Hall of Fame was created in 1987 by Junior Achievement and the Puget Sound Business Journal.

Oppenheimer joined Washington Mutual's marketing department in 1985 five years after her graduation from University of Puget Sound and, from the time Kerry Killinger became CEO in 1990 and over the next 15 years, she was a key executive helping guide major acquisition decisions and the dramatic expansion of WAMU.

But she was watching from afar as she saw the Seattle bank that she helped grow during her two decades there disappear in the 2008 financial meltdown while she was steering Barclay's, the respected old British bank, successfully through the global crisis.

She returned home to Seattle in 2011 after five years at Barclay's transforming the global retail and business-banking divisions of the staid 350-year-old institution and founded Cameoworks LLC, a global retail and financial-services advisory firm.

In October 2010 was voted American Banker magazine's Second Most Powerful Woman in Banking.
Bruce Kennedy, who served as Alaska's chairman and CEO between 1979 and 1991, a period of dramatic growth in revenue and route expansion that set the airline on the road to being the dominant force in the airline industry that it has become today.

Kennedy was an Anchorage businessman whose real estate firm bought an Alaska airlines that was near bankruptcy in 1972 and the firm steadied the carrier financially, setting the stage for Kennedy to assume the top post.

Over Kennedy's 12 years at the helm, Alaska's revenue grew more than six-fold to $1.1 billion by the time he retired to focus his attention on humanitarian work, traveling to China to teach English, sheltering refugees in his home and serving as chairman of Quest Aircraft, which made aircraft for dangerous and remote locations.

It was under his leadership that Alaska developed routes to Southern California, Russia and launched the Mexico connection that has become a vital segment of Alaska's business today and that Alaska acquired Horizon Air, a Northwest regional carrier that has grown to be the nation's eighth largest regional airline.

Kennedy died in 2007 when his small plane crashed on Wenatchee as he was en route to visit his grandchildren. He was 68.

Ivar Haglund was a Seattle folk singer and restaurateur who came to be referred to as "King," of Seattle's waterfront And the "flounder" of Ivar's. In 1938 he established Seattle's first aquarium on Pier 54 along with the fish and chips stand as he presided over a growing restaurant chain guiding a belief that quirky fun is important. That conviction included erecting underwater billboards, seeking a permit for a facility to grow marijuana for his special chowder.

In 1965 he launched the annual fireworks display over Elliott Ba every "Fourth of Jul-Ivar." By then he had become a legend as rdstaurateur, radio personalityhe began lofting fireworks over Elliott Bay every "Fourth of Jul-Ivar," he was a legend. He became a radio personality and  Puget Sound's principal champion of regional folk music.

Bob Donegan, whose 15 years at the helm of Ivar's have brought a doubling of revenue as Ivar's clebrated its 75th aniverary last August.

Donegan notes that Ivar set up one of the first pension and healthcare programs and that "Ivar hired people, kept them for decades and treated them well, setting the stage for the company's philosophy that employees come first."

This is the 29th anniversary of the launch of the Puget Sound Business Hall of Fame, although the local event was superseded in 1993 when the JA's National Business Hall of Fame was held in Seattle and Steve Jobs was among the newly inducted laureates on hand to accept his award.

David Moore, JA president for Washington, announced that Seattle Mariner President Kevin Mather would be the chair of the 2016 event.
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Chelan wildfires devastation prompts mother-daughter fund-raising response

"When millennials join with boomers, better results happen," is how Deanna Oppenheimer sums up the success she and her daughter, 27-year-old Jenifer, had when, as part-time residents of Chelan, they were moved by the devastation they witnessed from the wildfires in the area to launch a local fund-raising effort for victims.

Oppenheimer, a leader in international finance while working in London from 2005 to 2012 as one of Barclay's key executives before returning to Seattle, and Jeni, who is heading off to get her MBA in the UK after three years with Global Impact in Washington, D.C., launched the fund the weekend after lightning strikes on August 13 started what became massive fires.

Deanna and Jeni Oppenheimer 

As of this week, the fires, which started, then converged into one around Lake Chelan and are now referred to as "the Chelan fire complex," have burned more than 92,000 acres and destroyed 21 residences and has actually been dramatically surpassed in impact by fires in Okanogan County.

"The passion came when Jeni and I went to Chelan to check on things. Seeing cabins burned to the ground in our favorite ski cove, seeing the ducks slick with oil from the burned boats, walking down empty streets and talking with the farmers at the Wednesday market that had lost everything, moved us to tears....and then action," Deanna said.

Deanna explained that they set a modest initial goal of $5,000 with the funds to go to a local effort focused solely on fire relief, meaning small-scale capability to allocate the funds and thus they didn't want to set a large goal that would raise significantly more than the local organization could raise on its own.

Jeni interviewed the head of the local organization called Give Naked, a giving organization that operates under the umbrella of the 501c3 Chelan Valley Hope while Deanna spoke with community leaders in Chelan and Manson before unveiling their campaign.

The plea for support went out to family and friends by way of a site called Crowdrise, a for-profit website that uses crowdsourcing to raise charitable donations for things like medical bills, volunteer trips and what it promotes as 1.5 million charities, touting the ability to create a site in 42 seconds.

The original goal of $5,000 quickly became $10,000, noted Jeni, who chose the Crowdrise approach to the fundraising.

And of course among the first to make donations were Jeni's brother, James, 23, and John Oppenheimer, Columbia Hospitality founder and CEO, who merely looked on with presumed satisfaction while his wife and daughter went about their fund raising.

Having known John and Deanna for a long time, the focus and zeal that Deanna and Jeni brought to their cause was no surprise.

"Now we are just under $20,000 and not even halfway to our target date of September 14," Jeni advised me this morning.

"What overwhelmed us was the incredible generosity of those we asked and the power of the social media network," said Deanna, who founded the consumer-focused boutique advisory firm CameoWorks after returning to Seattle. "We raised the $5,000 in 25 HOURS not days, and decided to double the goal to $10,000."

 

Deanna, who has had a social media hand in publicizing their effort with a lengthy post on LinkedIn, sums up their success as "old school networking meets new school technology in the area of charitable fundraising."

"The combination of a passionate cause, crowdfunding technology and good old personal networking taught me a lot about the new way to raise awareness," she added.

 

"The campaign has been a lot of fun to work on together but it's been exactly that....a lot of work," Deanna said. "As a result, we are not planning on broadening to support other geographic areas.  However, our campaign is a great model for someone connected to those areas to follow if they are interested."

And the model is one that could spur groups in other smaller communities that have been dramatically impacted by the wildfires, particularly those in Okanogan CountyGo to link  

.

Deanna describes the model for their success:  "Multi-generational teams that combine disruptive thinking and youthful energy with seasoned expertise and lessons-learned experience are more successful than monolithic group think."


But Jeni puts it in a more personal vein. "This is something we wanted to do together." 
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Oppenheimer reflects on financial crisis, five years on, and the Dodd-Frank "fix."

Deanna Oppenheimer, who saw the Seattle-based bank that she helped grow during her two decades there disappear in the 2008 financial meltdown while she was steering a respected old British bank successfully through the global crisis, thinks "a lot of good things have come out of that crisis."

 

But the woman regarded as one of the two most powerful women in banking by the time she returned home to Seattle in 2011 after five years at Barclay's transforming the global retail and business-banking divisions of the staid 350-year-old institution, isn't sure the Dodd-Frank bill is one of those "good things."

 

Deanna Oppenheimer
Oppenheimer, who had departed Washington Mutual after helping guide major acquisitions and dramatic expansion but before its ill-fated plunge into wholesale sub-prime lending,

says Dodd-Frank  "is excessive for everyone that is affected to fully comprehend and comply with."

 

 

Officially TheDodd-FrankWall Street Reform and Consumer ProtectionAct, the bill was passed by Congress as the far-reaching legislative response to financial excesses that helped bring about the Great Recession.

 

 

"The bill itself, as passed, was 848 pages compared with Sarbanes Oxley's 66 pages and 37 in Glass Steagall (the original Banking Act of 1933, written in part to address the financial excesses that led to the Great Depression)," Oppenheimer noted.

 

"The rules written by government agencies to enforce the law have gone into a much larger number, with the biggest that I've now uncovered being up to 15,000 pages, at about 40-to-60 percent complete 3 years into the process," she said.

 

"Any way you cut it, the legislation has resulted in more rule making than any other financial-services-regulation law by a mile," she added.

 

Oppenheimer, now CEO of Cameoworks LLC , a global retail and financial-services advisory firm she founded in Seattle two years ago,had joined the marketing department at Washington Mutual in 1985, five years after her graduation from University of Puget Sound, and soon began to advance through the ranks.

 

By 1990, the year Kerry Killinger was named CEO, she had become a key executive directly reporting to the man at the top, and remained a key aide to Killinger over the next 20 years, helping guide major acquisition decisions and the dramatic expansion of what had become simply WAMU, the nation's sixth largest bank.

 

When she left WAMU in 2005, she actually departed with no specific next step in mind, but Barclays quickly began wooing her to move to London and by the third pitch, she decided to accept.

 

I shared with her my view that two things had helped contribute to the transformation I saw in Killinger and his bank over the 15 years I knew him. First was the twin roles he held as chairman and CEO because of the way he came to wield power over his board, and the second was a board whose skills were left wanting as WAMU grew from a quiet, regional thrift to a major national financial institution.

 

Without directly addressing my points, Oppenheimer said: "Good governance in the UK now requires separation of the two roles while, in the U.S., combining the roles is still accepted as good-governance."

 

"But if the roles are combined, that dual role shouldn't continue on indefinitely, and there needs to be a really strong independent director," she said. "And the board needs to have regular executive sessions where CEO-chair is not in the room and board members have a chance to say to each other, 'are we feeling good about everything?'"

 

And regarding board quality, Oppenheimer noted that one of those "good things" coming out of the financial crisis is the requirement in the UK that boards are required to do periodic self-examination.

"The question in that self-examination is: does this board have the skills required to run this company," she explained. "It's not just financial-services companies but all companies."

 

Oppenheimer has intentionally kept a low profile since her return to Seattle as she has instead sought to grow Cameoworks' list of client companies, which she described as mostly technology and retail businesses, and focused on her work on the boards of three global companies.

 

But in addition to sitting down to visit for this column, slightly more than five years on from the Fed's seizure of WAMU and sale to  JPMorgan Chase, she participated last week in Seattle on a financial-services panel exploring how financial firms might fit into the Seattle area's future.

 

As we discussed that topic, Oppenheimer said "Seattle is not viewed as a financial-services center and traditional financial services are not going to grow here."

 

"When business people in other parts of the world think of Seattle, they think of innovation, and when they visit here, they soon talk about customer service," she said.

 

But she thinks Seattle could become a center for the convergence of financial services and technology, noting "Starbucks has one of the largest digital wallets, Amazon has applicable innovations and a number of smaller companies are emerging as well."

 

As the financial comeback continues, Oppenheimer thinks a key step necessary "is getting the consistency of regulation back."

"There's more unified regulation coming out of Europe," she added. "Here we need to get regulators and regulations settled into some consistency.".

 

Asked about fear of a repeat of the financial meltdown, she said: "This scenario won't likely happen again, But what kind of possible scenario should we try to anticipate so we might plan for it? That's what we don't know."

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