New Chief Operating Officer Adam Giblin (SFS ’06) spoke optimistically about the future of The Corp in the hands of its new officers, elected by Georgetown’s student-owned corporation on Wednesday.
“Coming off one of our strongest years in history, we plan to do even better,” Giblin said. The Corp made its first profit in 2004, he said, after “three years in the red.”
Giblin is no stranger to the workings of The Corp. He began his career at Midnight Mug in 2002, and joined the upper management in the summer of 2004. Giblin will serve as chief operating officer for the 2005 fiscal year, taking over for outgoing officer Keith cNamara (MSB ’06).
The Corp also elected John Carpenter (MSB ’06) as president and chief executive officer, replacing Christine Werner (MSB ’05), and elected Chirag Dedania (SFS ’06) as chief financial officer, replacing Brian McGovern (COL ’05). The new officers, who will start their duties on Mar. 1, 2005, said they stand ready to repeat this year’s success.
“Coffee stores were instrumental,” Giblin said in regards to the past year’s profit margin. The Corp’s coffee shops, Midnight Mug and Uncommon Grounds, had the best profit turnover of all of The Corp’s affiliates, he said.
Stores like Midnight Mug are part of The Corp’s plans to expand to the south end of Georgetown’s campus. The Corp also manages Hoya Snaxa in the southwest quad. “We try to be where the students are,” Giblin said.
Giblin also described plans for expansion into vacant areas of the recently renovated New South student space.
Giblin said The Corp was continuing negotiations with University President John J. DeGioia and Vice President for Student Affairs Todd Olson for the use of the New South space. “It’s a long term goal,” he said.
One of The Corp’s new management group’s first objectives is to determine what to do with the former site of the now-defunct photography store Full Exposure. The Corp continues to pay rent for the vacant lot on campus at a rate of $1,000 per month. “We have to decide weather to keep it or let it go,” Giblin said. “We still don’t know what will happen.”
Giblin also spoke optimistically about the growing success of The Corp’s information and technology department.
“The department has grown exponentially,” Giblin said. The Corp plans to integrate their stores more fully with the use of the Internet, he said, including inventory and pay roll. “It will change every aspect of our services.”
Despite the technological changes, Giblin said The Corp is committed to staying true to its roots. “Our primary service is to protect the inherent rights of students,” Giblin said. “This means we will continue to offer good prices, and convenience.”
This will hold especially true for Vital Vittles, The Corp’s convenience store in the Leavey Center, he said. “Vittles is our flagship store.”
The Corp is still in the process of changing for the new fiscal year. In the coming weeks it will name its new board of directors and upper management.
“We’re hoping to find directors committed to stores and students of Georgetown University,” Giblin said, “They need to keep the mission of The Corp in mind.”
