To the chief executive officers who watch young newcomers scrambling to get into the executive suite, the market value of an M.B.A. is a matter of sharp debate. Typical of the bears is Peter Storer, chairman of the Miami-based Storer Broadcasting Corp.: "The M.B.A. is just not meaningful in our business. The guy who has gone through that program obviously has considerable academic brains, but the fact that he might make a great banker does not mean that we are going to hire him." Considerably more bullish is John Fery, a Stanford M.B.A. who...
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