Kai Nip
News from Yale SOM
“As the search for the School of Management’s new dean reaches the interview phase, SOM community members reflect on the business school’s broader values and issues that they would like their new leader to address.
“Dean Edward Snyder announced last spring that he would step down from his position after the 2018-19 academic year. University President Peter Salovey tasked the SOM Dean Search Advisory Committee, a group chaired by finance professor Andrew Metrick ’89 and comprised of nine other University faculty members, with finding a new dean. According to committee member and Deputy Provost for International Affairs Pericles Lewis, the committee identified several contenders for the position after gathering feedback from SOM faculty, staff, students and alumni.
“Metrick told the News that he cannot disclose the number of candidates who are under consideration, but the count is ‘a single-digit number.’ At the end of the process, his committee will give a short list of candidates to Salovey, who will make the final choice.”
Bill Witte. Kelley photo
U.S. Economy To Remain Strong Through Most Of 2019, With Output Averaging 3%
News from Indiana University Kelley School of Business
“Higher than expected economic growth in 2018 should continue into next year, with U.S. output averaging 3% and continued strong gains in domestic job growth. Indiana will continue to outperform the nation, with output growing at a rate of 3.2%, according to a forecast presented today by Indiana University’s Kelley School of Business.
“A year ago, members of Kelley’s Indiana Business Outlook Tour panel predicted that U.S. gross domestic product would grow by 2.6% this year and about 3% if tax reform were enacted. Indiana was forecast to see growth of 2.8%. Friday’s release of GDP data for the third quarter supports their view that 2018 should end up with output growth above those levels.
“‘The tax cut has produced an acceleration in the U.S. economy during 2018 to well above the new normal status quo of 2 percent growth,’ said Bill Witte, associate professor emeritus of economics at IU. ‘We expect output growth in 2019 to average 3 percent, but with deceleration as the year proceeds. By this time next year, quarterly growth will be heading toward equilibrium growth at a little below 2.5 percent.'”
Gina Colucci. Vanderbilt photo
Veterans Kickstart Recruiting At The MBA Veterans Conference
News from Vanderbilt University Owen Graduate School of Management
“Founded in 2009, the MBA Veterans Network® is a professional networking and advocacy organization for military veterans and alumni. The organization’s flagship event is the MBA Veterans Conference, which connects 350+ first- and second-year MBA students, all of whom are military veterans, with more than 50 of America’s leading MBA employers. Every fall, a group of Vanderbilt Business veterans attend the conference, building relationships with employers as well as veterans at other schools.
“This year’s conference was held from October 11 to 12 in Chicago, Illinois, and two of Owen’s attendees — Gina Colucci and Seth Staugler — share their thoughts on the experience.
“‘The MBA Veterans Conference seemed like a logical place to start my recruiting, and I was not disappointed with my decision to attend,” Gina Colucci says. ‘It was a great place to learn about companies, network with fellow veterans, and get a head start with interviews. The conference’s online platform allowed me to connect with companies before the event and express my interest in the positions they were offering. Several of those companies reached out by asking me to invite-only happy hours or breakfasts and one company even conducted an over-the-phone, first-round interview.'”
Were the bailouts a good idea? Yes and no, says Tuck’s Peter Fisher. Tuck photo
Tuck Professor Warns We Will Have Another Financial Crisis
News from Dartmouth College Tuck School of Business
“A decade has passed since the 2008 financial crisis, but both its causes and its effects are still with us, says Tuck clinical professor Peter Fisher in an interview with Tuck News.
“Fisher, a former Fed and U.S. Treasury official who came to Tuck from BlackRock, teaches The Arrhythmia of Finance — one of the school’s most popular courses.”
Of Money And Men: A Tale Of Poker, Wall Street – And An Open Wound
News from The Wharton School at the University of Pennsylvania
“In his unfinished novel The Last Tycoon, F. Scott Fitzgerald wrote that there are no second acts in American lives. While this statement is widely quoted – or misquoted, according to purists – clearly it does not apply to Jerrold Fine, whose life has had at least three acts. Having begun his career in New York City after graduating in 1964 from Wharton, Fine at age 24 was one of the pioneers of hedge funds on Wall Street. The fund that he and his partners launched in 1967 grew by the 1970s to become the largest in the industry. Fine left the partnership in 1976 to set up his own firm – Charter Oak Partners Management – in Connecticut. That second act continued through 2014, when he converted Charter Oak into a family office to embark on Act Three. At age 72, Fine chose to become a novelist.
His debut novel – titled, Make Me Even and I’ll Never Gamble Again – was published in August, and it packs the power of a Babe Ruth home run. Its multi-layered narrative is at one level a coming-of-age tale of a middle-class kid from Cincinnati named Rogers Stout. His father is a dedicated doctor who cares deeply for patients. After considerable soul-searching, Rogers chooses not to follow his father into medicine but decides to go to business school and pursue a career in finance. The novel paints an affectionate portrait of the Wharton School in the 1970s. At the same time, Make Me Even is the story of life on Wall Street in the turbulent 1970s and early 1980s. At its heart, it is the saga of a brilliant young man’s efforts to cope with an unhealed – and possibly unhealable — wound.”
HBS photo
Myths Of The Gig Economy, Corrected
News from Harvard Business School
“Every day there are news stories about the so-called gig economy where workers contribute part or full-time labor — not as employees with benefits, but as independent contractors. Dara Khosrowshahi, the CEO of Uber, the ride-sharing giant, proudly declared on September 10 that ‘very few brands become verbs.’ The same week Upwork, a platform for hiring freelancers, filed for an IPO, as did Fiverr, which boasts that it offers a ‘freelance services marketplace for the lean entrepreneur.’ Indeed, the gig economy has not only turned millions of Americans into contractors, but it’s given the more successful entrepreneurs the tools to grow even faster. A fast-moving startup can secure talent as it needs it, outsource more quotidian tasks like payroll, and stay lean and mean; indeed, I see entrepreneurs employ this approach through my work at EY supporting creative, successful startups.
“But there are lots of myths about gig work, whether full-time or part time. It’s growing, but not as much as you think, and in ways that may be very different than you imagine. It might even be better for older executives than recent grads. Here are a few myths worth dispelling.”
Dartmouth Tuck Dean Matthew Slaughter. Tuck photo
Want To Save Globalization? Invest In Human Capital
News from Dartmouth Tuck
“Here in the United States, next Tuesday, November 6, is Election Day. Voters will have their say on all seats in the House of Representatives and a third of the seats in the Senate. Most forecasts are that the Democrats will take control of the House, while who will control the Senate hangs in the balance. We want to pull your attention back from the vitriol of these races to gaze upon the roiling globalization landscape from which this vitriol springs.
“We live in a time of protectionist backlash. U.S. President Donald Trump has started a trade war with China, upended the North American Free Trade Agreement, imposed tariffs on the United States’ closest allies, withdrawn from the Trans-Pacific Partnership, and talked endlessly about building a wall on the U.S.-Mexican border. But the backlash against globalization goes far beyond the president himself. In fact, his presidency is more a symptom of it than its cause. Even as they may decry the president’s particular methods, many voters and politicians in both parties approve of his objectives.”
CBS image
At Columbia, Fashion Exists In Pockets
News from Columbia Business School
“If you stop and ask yourself what fashion is, chances are you’ll think of clothes. What starts as a superficial understanding of the sartorial choices we make every morning quickly expands to include the many ways in which these choices reflect some greater truth about our shared human experiences. Garments are legible. Fashion reflects personal ambitions, advancements in craftsmanship and technology, and reactions to political and current events surrounding us at any given moment.
“It is difficult to talk about fashion without talking about New York City. New York Fashion Week is one of the ‘big four’ fashion weeks worldwide, up there with Paris, Milan, and London. The City is also home to headquarters for some of the most renowned fashion houses across the globe, including Calvin Klein, Ralph Lauren, and Marc Jacobs. The fashion world and the world of New York City exist within and of each other.
“Courtney Lyons, a sophomore at Barnard, came to New York City for college specifically to pursue a career in fashion after graduation. Lyons chose Barnard because, even though the College does not offer a fashion major, she saw the value of a liberal arts education that would allow her to explore her love of fashion in the context of an array of other disciplines. But she wishes the College offered more academic opportunities to engage with the local industry: ‘I think it’s a disadvantage [to be at Barnard] if you’re interested in fashion.’”
Reggie Ford. Owen photo
From Audits To Entrepreneurship: Master Of Accountancy Alum Launches Financial Services Firm
News from Vanderbilt Owen
“Reggie Ford (BA’13, MAcc’14) has been an entrepreneur for as long as he can remember. At the tender age of eight, he embarked the first of many ventures when he asked a friend to draw designs of Looney Tunes characters, which he then traced onto T-shirts with paint pens and sold to other children. ‘That was just really exciting for me to put something out there that people wanted and liked to buy,’ Ford said.
“After that, Ford dabbled in a variety of fields, from operating a one-man barbershop during his college years to starting a social media management and web development company that eventually fizzled out. He hit upon a winning idea with Rosecrete Wealth Management, which he recently launched after a stint in accounting.”
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