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Archives for: January 2007


Wealth Manager, 1/1/2007
YouTube purchase illustrates Google’s competitive advantage
Google’s recent purchase of video sharing site YouTube highlights the competitive advantage provided by Google’s massive market capitalization, says Bob Monroe, Associate Teaching Professor in Information and Computer Science at the Tepper School. Monroe points out that Microsoft or Yahoo could have made a comparable bid, but such a move would have amounted to a much larger bet than it did for Google.

Pittsburgh Business Times, 1/3/2007
PNC donation creates chair in computational finance
The new PNC Professorship in Computational Finance chair will enhance the Tepper School’s commitment to academic discoveries that will transfer to the financial industry, according to Dean Kenneth B. Dunn, who is also a Professor of Financial Economics. The chair was created through a $1.25 million donation from two entities of PNC Financial Services Group Inc. and will help support the school’s junior faculty.

BusinessWeek, 1/3/2007
Quake-related application extension requests being evaluated case by case
Tepper School applicants who were affected by the Dec. 26 earthquake in Taiwan may get a break in their January application deadlines. Tepper is among several business schools evaluating extension requests on a case-by-case basis.

Wall Street Journal, 1/4/2007
SEC describes obstacles to evaluating mutual fund board requirement
Mutual fund boards with a greater proportion of independent directors are more likely to act quickly in protecting investors from trading abuses, says Chester Spatt, Mellon Bank Professor of Finance and Director of the Center for Financial Markets. However, Spatt, who is also the Security and Exchange Commission’s chief economist, notes that there is not much broad evidence linking mutual-fund performance and fund independence.

Pittsburgh Post-Gazette, 1/4/2007
Board member: BodyMedia CEO made right move in stepping down
Revenues are up at Pittsburgh-based medical device developer BodyMedia Inc., reports board member and venture capitalist Jay Katarincic, MSIA 1991, who praised the recent decision by founder Astro Teller to step down as chief executive officer. Katarincic credits Teller for “realizing where his strengths lie and making the decision to bring in someone who had more day-to-day sales and marketing” experience.

Pittsburgh Post-Gazette, 1/8/2007
Faculty member can sympathize with Cowher’s decision
Chris Allison, chief instructor of the Don Jones Center’s Entrepreneurial Leadership Forum, can sympathize with Bill Cowher’s decision to step down as coach of the Pittsburgh Steelers and spend more time with his family. Allison, who made millions running publicly-traded Tollgrade Communications, left the company in 2005 to devote his time to teaching, writing, and relaxing with his wife.

New York Times, 1/8/2007
Study: Shifts in usage can dramatically lower energy costs
Consumers could save nearly $23 billion a year in energy costs if they shifted just 7 percent of their usage during peak periods to less costly times, according to research by the Electricity Industry Research Center. That is the equivalent of the entire nation getting a free month of power every year.

Mesabi Daily News, 1/10/2007
Tepper alumnus takes on prominent U.S. Steel plant
U.S. Steel has announced that Tepper alumnus Dennis Quirk will relocate to Pittsburgh to manage its Edgar Thomson Plant. Quirk, who earned a bachelor’s degree in 1977, previously had been general manager of Minnesota Ore Operations for the steelmaker.

Pittsburgh Post-Gazette, 1/14/2007
Simmons hopes donation will lead orchestra’s capital campaign
Richard Simmons, Distinguished Adjunct Professor of Business Management, says he hopes his $29.5 million donation to the Pittsburgh Symphony Orchestra will set an example for its capital campaign. Simmons, who is the orchestra’s board chairman, is leading the campaign and hopes to keep the PSO among the best in the country.

MSNBC.COM, 1/15/2007
Look for companies that value the rank and file
As the economy shifts to depend more on intellectual capital, companies are realizing the worth of their rank-and-file employees, says Robert Kelley, Adjunct Professor of Organizational Behavior and Theory. Kelley says it’s important to look at the company’s history to see whether it values individual contributors.

San Francisco Chronicle, 1/16/2007
Job market gaining momentum for MBAs
Employers are so eager for MBAs these days that the Tepper School is setting strict recruiting guidelines, says Stephen Rakas, Associate Director of the Career Opportunities Center. Rakas says the school wants to avoid the possibility of students being hit by recruiters when they’re just getting to campus and buying their books.

Bangkok Post, 1/17/2007
Future bright at Bank of Ayudhya, chief executive says
Bank of Ayudhya expects to continue enjoying strong growth and hopes eventually to become one of the leading universal banks in Thailand, according to president and chief executive Yoshiaki Fujimori, MSIA 1981. Fujimori says BAY will retain its brand identity and image to the market following the 25 percent investment of the GE Group.

Pittsburgh Post-Gazette, 1/17/2007
MBA grad goes green with organic clothing store
Captivated by organic clothing that she found while working in the Netherlands, MBA 2001 graduate Jill Uhryniak is sharing her discovery with western Pennsylvania. Uhryniak has opened Mooi, a children’s organic clothing line, in East Liberty’s Eastside Mall.

Pittsburgh Post-Gazette , 1/18/2007
Alum gets a taste of working in the food importing business
After spending nearly a dozen years climbing corporate ladders, Chris Balouris, who earned his bachelor’s degree from the Tepper School in 1991, is capitalizing on a longtime appreciation of the food business. Balouris owns Salonika Imports in Pittsburgh’s Strip District, where he imports and offers wholesale nationwide distribution of Greek, Bulgarian, and other Mediterranean foods.

New York Times, 1/18/2007
Neuropathologist says brain damage contributed to ex-football player’s suicide
Brain damage sustained while playing football contributed to the depression and ultimate suicide of former professional football player Andre Waters, according to neuropathologist Bennet Omalu, who examined remains of Waters’ brain. Omalu, who is pursuing his MBA at the Tepper School, says Waters’ brain tissue resembled that of an 85-year-old man or an early-stage Alzheimer’s patient.

Lafayette Online, 1/20/2007
Goodman to present film at global supply chain conference
Paul Goodman, the Richard M. Cyert Professor and Professor of Organizational Psychology, Director, Institute for Strategic Development, Co-Director, Center for the Management of Technology, is presenting his film “Dabbawallas” at a Feb. 1-2 conference on the global supply chain at Purdue University. The film features a group of entrepreneurs in India who use low technology to deliver more than 100,000 hot lunches from their homes to offices every day.

Pittsburgh Post-Gazette, 1/22/2007
Job satisfaction correlates to loafing time
People who genuinely like their jobs tend to goof off less than those who are “just putting in time,” says Robert E. Kelley, Adjunct Professor of Organizational Behavior and Theory. Kelley says people who come to work with a purpose are less likely to be distracted, whereas more time gets wasted in situations where the job and the person are not a good match.

Pittsburgh Post-Gazette , 1/24/2007
Student uses eBay to test job market
Class of 2008 candidate Andrew Warshaver, who is minoring in computational finance, is putting his personal marketability to the test by putting his services up for bid on eBay. Warshaver, who is studying computer programming, is offering 12 weeks of his services to the highest bidder as part of his search for a summer internship.

Baltimore Sun, 1/24/2007
Rising corn prices impacting economy, says Lave
Rising corn prices have “all sorts of implications” on the economy, according to Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director of Green Design; Co-Director, Carnegie Mellon Electricity Industry Center. In order to meet President Bush’s plan to expand the use of alternative fuels, the country would need to switch over to cellulosic ethanol, Lave says.

Pittsburgh Post-Gazette , 1/25/2007
Presidential mention could mean funding behind energy focus
There may be money behind President Bush's focus on energy -- especially coal and nuclear power – as outlined in his State of the Union address, says Jay Apt, Executive Director, Electricity Industry Center; Associate Research Professor; Distinguished Service Professor in Engineering and Public Policy. Energy was one of the six main topics in Tuesday's speech, and Apt says that’s of great significance.

The Tartan, 1/29/2007
Asian-interest student groups welcome membership from all nationalities
In contrast to some student groups at other universities, Asian-interest groups at Carnegie Mellon welcome membership from students of any origin, according to Lu Zhang, a junior business administration student and former president of the Asian Student Association. Fellow business administration junior Paul Nguyen, head of the Vietnamese Student Association, says it’s important to foster awareness of each individual Asian culture.

Indianapolis Star, 1/29/2007
Translating science-speak not always easy
Training researchers to tell stories that illustrate the benefits of their technology is not always an easy task, according to Mildred S. Myers, Teaching Professor of Business Management Communication Emeritus. Myers explains that scientists are trained to work incrementally, but businesspeople want to know what the payback is.

Pittsburgh Post-Gazette, 1/29/2007
Growth illustrates link between high-level math, financial world
The growth of computational finance programs among the nation’s elite universities demonstrates an explosion of interest that wasn’t originally anticipated by Steven Shreve, Professor of Mathematics, who co-founded Carnegie Mellon’s program in 1994. Shreve says he thought the program might get up to 25 students a year, but that number since has quadrupled.

The Financial Times, 1/29/2007
Financial Times releases 2007 MBA rankings
Growing international recognition of the MBA may have contributed to a recent increase in applications worldwide, as well as a healthy job market for graduates, The Financial Times reports. The Times, which included the Tepper School in its ranking of top global and U.S. programs, says the recent growth is the most seen by graduate business programs since the early 1990s.

Reuters, 1/29/2007
Ben Bernanke taking collegial approach at Federal Reserve
Federal Reserve Chairman Ben Bernanke’s collegial approach to policy reflects his academic background and allows other members to have more influence, according to Allan H. Meltzer, the Allan H. Meltzer University Professor of Political Economy and an expert on the U.S. central bank. By contrast, Bernanke’s predecessor, Alan Greenspan, came from industry and served more as a chief executive officer, Meltzer says.

Pittsburgh Tribune-Review, 1/30/2007
Endowed chairs critical for retaining top faculty
Well-funded faculty chairs are critical for retaining world-class talent, according to Tepper Dean Kenneth Dunn. The school recently announced a $5 million gift from retired businessman Richard P. Simmons, Distinguished Adjunct Professor of Business Management, to endow a chair that will be held by 2004 Nobel Prizewinner Finn Kydland.

Bloomberg, 1/30/2007
Credit Suisse’s Bhutani selling mining stocks, investing in oil
Credit Suisse AG's Jay Bhutani is selling the mining stocks that made him the best fund manager in his category last year and investing in oil shares to recover from slumping raw-materials prices. Bhutani, who earned his MSIA from the Tepper School in 1991, cut his allocation of mining stocks from 50 percent to 42 percent.

The Financial Times, 1/30/2007
Tepper School names Nobel Laureate to new distinguished professorship
The Tepper School has named Nobel Prize-winning economist Finn Kydland to the first Richard P. Simmons Distinguished Professorship, following a $5 million donation by Simmons, retired chairman of Allegheny Technologies and an adjunct professor at the school. Kydland, who earned his doctoral degree in economics from Carnegie Mellon in 1973, received the Nobel Prize in conjunction with fellow alumnus Edward Prescott, who earned a PhD in 1967.

Kansas City Star, 1/31/2007
Dissenting votes rare at the Fed
While the Federal Reserve Bank’s 12 presidents have the power to vote against group policy decisions, dissenting votes are relatively rare, says Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy. The group intentionally seeks to reach a consensus because too many dissents can undermine the policy or potentially send conflicting signals to markets.

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