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Archives for: October 2004


TECHTV, 10/1/2004
Build-Your-Own Mutual Funds Put You in Control
Alumnus David Tepper is quoted in this article about building your own mutual finds (first published on 10/6/2000). Tepper says that choosing mutual funds can be overwhelming, especially for beginning investors. He suggests that “people focus more on what you're investing in, rather than the administrative or overhead costs of that investment vehicle.”

ORLANDO SUN , 10/3/2004
Experts blame economists, tax cuts, spending for deficit
This article about federal debt from the Bush administration quotes Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy. "So much of the deficit is justifiable. What is not justifiable, in the Bush case, is the very large increase in discretionary spending. That's where he could have been a bit more prudent," said Meltzer.

PITTSBURGH POST-GAZETTE , 10/3/2004
Entrepreneurship: Forget IQ and EQ. Best entrepreneurs have high BQ
This article by Jack Roseman, former adjunct faculty member of entrepreneurship at Carnegie Mellon, discusses why entrepreneurs succeed. The idea of business intelligence, termed BQ by Roseman, is difficult to define: “It might be instincts; it might be personal identity. But when you see it in action you recognize it as successful execution.” Roseman says that knowing yourself is one way to help your business: “Understand what you can do and what you can't. And when it comes to one of those areas where you are blocked, hand the ball off to another great individual.”

PITTSBURGH TRIBUNE-REVIEW , 10/3/2004
Decimated Downtowns
David Frame, visiting assistant professor of economics, is quoted about the resilience of Pittsburgh’s regional downtowns. Although flooding damage has put a halt to revitalization to towns such as Etna and Carnegie, Frame said that the neighborhoods in the Pittsburgh area may help these struggling businesses. "It's very rare when you see a flood and everybody decides to move out of the valley," he said.

PITTSBURGH POST-GAZETTE , 10/4/2004
Generation X not in giving mood--yet
Citing a recent report on the difference among age groups and charity donations, this article notes that Generation X, people born from around 1965 to 1981, are less likely to give money to non-profit organizations. David Tepper’s re-naming gift to Carnegie Mellon’s business school is mentioned as an example of the philanthropic nature that the younger generation doesn’t have.

THESTREET.COM , 10/5/2004
Uranium Rally Faces Limited Half Life
Lester Lave, University Professor and co-director of the Carnegie Mellon Electricity Industry Center, is quoted in this article about alternative energy sources. Lave notes that nuclear power may become a viable energy in the future. Increasing gasoline prices and the environmental concerns of coal are two factors pointing toward nuclear energy.

NEW YORK TIMES , 10/7/2004
Entrepreneurs Must Choose Their Words With Care.
The Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University is mentioned in this article about “Entrepreneur” magazine’s successful efforts to keep organizations from officially using the word “entrepreneur.” In response to this trademark issue, the Donald H. Jones Center changes its newsletter title from “The Entrepreneur” to “The DJC Newsletter.”

NEW YORK TIMES , 10/7/2004
A Biotech Company's Aggressive Move Backfires
Alumnus Howard Pien (MSIA '81), is the chief executive of Chiron, the company that expected to supply 50 million flu vaccine doses to the United States this year. Pien said that Chiron is holding its position to be the leading flu vaccine provider for next year.

BUSINESSWEEK, 10/8/2004
The Best B-Schools
In its ninth biennial survey of the best business schools, BusinessWeek ranks the Tepper School of Business at Carnegie Mellon No. 15, up four spots from the previous BusinessWeek ranking. This article remarks that the Tepper School has a “reputation for turning out grads skilled in quantitative analysis.” Surveys of 2004 MBA students account for 50 percent of the student satisfaction score.

PITTSBURGH BUSINESS TIMES , 10/11/2004
Two with CMU ties win Nobel economics prize
Professor of Economics Finn Kyland and former faculty member Edward Prescott are mentioned in this article. Both men are alumni of the business school and share the 2004 Nobel Prize for Economics. This article states that their work is responsible for “determining the driving forces of global business cycle fluctuations.”

CENTREDAILY.COM , 10/11/2004
Colleagues say Carnegie Mellon professor deserving of Nobel
Dr. Jared L. Cohon, President Carnegie Mellon University, Tepper Dean Ken Dunn, and Stanley E. Zinn, The Richard M. Cyert and Morris H. DeGroot Professor of Economics and Statistics, are quoted in this article about 2004 Nobel Prize recepient , Finn E. Kydland, professor of economics. "There has been a sentiment for the last couple of years that it was going to come to these guys," Zin said. "When it happened, it was just so exciting. I was screaming and yelling and my kids wanted to know what was going on."

THE DALLAS MORNING NEWS , 10/11/2004
Nobel prize cites pair's cycle theory
Finn E. Kydland, professor of economics, and alumnus Edward Prescott are discussed and Allan H. Meltzer, the Allan H. Meltzer University Professor of Political Economy is quoted in this article. Meltzer commented on the significance of the pair’s research: "Their work on central banks has changed the way we look at the Fed."

TECHYVENT/PITTSBURGH , 10/12/2004
Use This Calculator to Slice Up the Pie "Fair" Doesn't Mean "Equal"
Frank Demmler, associate teaching professor of entrepreneurship, advises entrepreneurs on how to split up the “founders’ pie.” Demmler said that equally dividing the profits is not a fair way to go about business. Instead, he created a formula that factors in idea, business plan, domain expertise, commitment, risk and responsibilities.

PITTSBURGH POST-GAZETTE , 10/12/2004
CMU professor shares Nobel for economics
This article announces that Finn E. Kydland, professor of economics and Ph.D. alumnus, and Edward Prescott of Arizona State University, also a Ph.D. alumnus and former faculty member from Carnegie Mellon, won the 2004 Nobel Prize in economics. Stanley E. Zin, The Richard M. Cyert and Morris H. DeGroot Professor of Economics and Statistics, is quoted about the winners. According to Zin, Prescott is known for saying "remarkably outrageous things that force people to think differently," and Kydland, is known for "what we lovingly call 'the question-question.'”

PITTSBURGH TRIBUNE-REVIEW , 10/12/2004
CMU economist, mentor share Nobel
Finn E. Kydland, professor of economics and Ph.D. alumnus, shares the 2004 Nobel Prize in economics with Edward Prescott of Arizona State University, also a Ph.D. alumnus and former faculty member from Carnegie Mellon. "For a small school of our size, it's an unparalleled intellectual achievement," said Ilker Baybars, deputy dean of the Tepper School.

THE WASHINGTON POST , 10/12/2004
Two Share Nobel in Economics
Finn E. Kydland, professor of economics and Ph.D. alumnus, and Edward Prescott of Arizona State University, a Ph.D. alumnus and former faculty member from Carnegie Mellon, hold the 2004 Nobel Prize for Economics. This article notes “Prescott and Kydland showed that when government policymakers pursue stated goals inconsistently, it hurts their credibility with the public and can cause businesses and consumers to behave in ways contrary to those goals.”

PITTSBURGH POST-GAZETTE , 10/13/2004
Business Notes
This brief mentions that the Tepper School of Business at Carnegie Mellon University joined the Forté Foundation, an international consortium of top business schools, major corporations and nonprofit organizations dedicated to increasing the number of women leaders in the business world. The result will be scholarships, networking and mentoring opportunities for women at Tepper and increased recruiting to bring women into business.

ST. LOUIS POST-DISPATCH , 10/13/2004
Twenty-five years after the Great Inflation, the Fed fights on
"The Fed taught the markets that as unemployment started to rise or the housing market got in trouble, they would throw in the sponge" on fighting inflation, said Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy

BUSINESS WIRE , 10/13/2004
Calyon Americas Names Rodrigo Gracia, Specialist in Latin American Syndications, A VP in Loan Group
Calyon Americas, the corporate and investment bank of the Credit Agricole Group in New York, today announced the appointment of Rodrigo Gracia (MSIA 1999) as a Vice President in its Loan Syndication Group. Mr. Gracia will specialize in Latin American syndicated transactions.

PITTSBURGH TRIBUNE REVIEW, 10/14/2004
Pair from CMU win nobel prize for economics
Finn E. Kydland, professor of economics and Ph.D. alumnus, shares the 2004 Nobel Prize for Economics with Edward Prescott of Arizona State University, also a Ph.D. alumnus and former faculty member from Carnegie Mellon. "It's immense visibility not only for Carnegie Mellon but for our hometown because the news is all over the world, and western Pennsylvania these days needs some good news," said Ilker Baybars, deputy dean of the Tepper School of Business. Stanley E. Zin, The Richard M. Cyert and Morris H. DeGroot Professor of Economics and Statistics; Professor of Economics and Finance Head, Undergraduate Economics Program is also mentioned.

PITTSBURGH TRIBUNE REVIEW, 10/15/2004
Laurels and Lances
Laurel: To Edward C. Prescott and Finn E. Kydland. This one-time teacher-student duo at Carnegie Mellon University are the winners of this year's Nobel Prize for Economics. In a nutshell, the pair showed how government perverts economies. Gee, we've been saying that for years. Professor Kydland now teaches at CMU; Professor Prescott teaches at Arizona State.

THE NEW YORK TIMES, 10/16/2004
Frontiers of Free Enterprise: The Snooze
Arshad Chowdhury, (MBA 2003), co-founder of MetroNaps, said he was struck by the idea for a nap center while observing his exhausted colleagues at a Wall Street investment bank. "I'd see them dozing in bathrooms," he whispered. He tested the concept at Carnegie Mellon University, where he earned his M.B.A., and opened MetroNaps in May. Mr. Chowdhury, of course, said business was good, although he would not discuss customer turnout or specific financial details.

VALLEY MORNING STAR , 10/18/2004
Nobel Prizes go to worthy scholars
Edward C. Prescott and Finn Kydland have revolutionized certain aspects of the study of macroeconomics, which is the study of the economy as a whole as compared with analyzing transactions and decisions at the level of the individual person or company. They looked at business cycles in a more sophisticated way, doing rigorous research into the ultimate origins of wealth, in a quest to explain why some countries are richer while others are poorer.

BUSINESS WEEK ONLINE, 10/21/2004
MBA JOURNAL: FIRST YEAR REVIEW Mark Fischer (MBA 2005) reflects on the First Year of B-School
"The coursework did get difficult at times. But, in retrospect, it wasn't so much the content that posed the problem. Rather it was the sheer volume of work that cranked up the stress level" says Mark Fischer (MBA 2005)

THE WALL STREET JOURNAL, 10/21/2004
MBA JOURNAL: INTRODUCTION Malcolm Johnson: Who I Am, and Why B-School Is For Me
"My career as a professional football player lasted for all of four years, and the entire experience can only be described as exhilarating. The pay was great, the hours couldn't be beat, and the perks weren't bad either. Too bad NFL stood for Not For Long when it came to my career" says Malcolm Johnson (MBA 2006).

PITTSBURGH POST-GAZETTE, 10/22/2004
The Flood of '04: Nobelists' thinking on public flood policy not much heeded
Finn E. Kydland of Carnegie Mellon University and Edward C. Prescott of Arizona State University, the two winners of the 2004 Nobel prize in economics won the prize, in part, for work that used flood-plain management to show how government failure to stick to long-term rules and plans undermines stability. The work illustrates a real-world point brought home by last month's flooding across the state and the procession of politicians coming to the area to announce emergency flood relief funding.

PITTSBURGH POST-GAZETTE, 10/22/2004
Editorial: Pittsburgh's Nobels/CMU and Pitt have reason to be proud (again)
Three Nobels in one year to three people who spent some of their academically formative years in Pittsburgh says much about the intellectual gold mine at the universities. Finn Kydland, a professor at Carnegie Mellon's Tepper School of Business, and Edward Prescott, now at Arizona State University, were recognized by the Nobel committee for their "question-question" approach to figuring out what the government could or couldn't do about the economy.

THE WALL STREET JOURNAL, 10/22/2004
Praising Caesar
Baseball has New York and Boston and a vastly more competitive middle class, with budget-conscious payrolls of $50 million to $90 million. The Yankees' dominance also forced teams "to sit down and evaluate the rules," says Keith Law (MSIA 1999), special assistant to the general manager of the Toronto Blue Jays, a Harvard grad and Carnegie Mellon MBA who's one of baseball's smart, young new execs. "Within this construct, what's the most efficient strategy?"

THE CHRONICLE OF HIGHER EDUCATION, 10/22/2004
Nobels Prizes Awarded in Peace and in Economics
The Nobel Memorial Prize in Economic Science was awarded to Finn E. Kydland, a professor of economics at Carnegie Mellon University's Tepper School of Business and at the University of California at Santa Barbara, and Edward C. Prescott, a professor of economics at the W.P. Carey School of Business at Arizona State University and a senior monetary adviser at the Federal Reserve Bank of Minneapolis.

PITTSBURGH TRIBUNE-REVIEW, 10/24/2004
Consumer goods from cradle to grave
Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center, said that almost all of the Fortune 500 companies put out social responsibility reports, a new phenomenon where companies explain what, if anything, they are doing to ensure the social, economic, and environmental well-being of the local and global community. "Companies would not be going to that kind of trouble if they did not think it was worth it," Lave said. But the battle, the panel stressed, is far from won.

PR NEWSWIRE, 10/25/2004
CCG Investor Relations Announces Two Key New Hires
CCG Investor Relations, a leading investor relations and strategic communications firm, today announced that it has made two key hires to support the continued growth of its financial writing department. Mark S. Collinson has joined as an Account Executive and Daniel Steinberg (MSIA 1992) has joined as a Financial Writer.

THE DAILY NEWS, 10/25/2004
Faith in market isn’t out of style
Edward C. Prescott and Finn Kydland have revolutionized certain aspects of the study of macroeconomics, which is the study of the economy as a whole as compared with analyzing transactions and decisions at the level of the individual person or company. They looked at business cycles in a more sophisticated way, doing rigorous research into the ultimate origins of wealth, in a quest to explain why some countries are richer while others are poorer.

THE WALL STREET JOURNAL , 10/26/2004
Nobel Econ Winner Says Long-Term Growth Key For Argentina
"The main issue for the nation has to be that growth persists in the long run and that should not be overshadowed by any measures to get out of a bad structural situation in the short run," said Finn Kydland, Professor of Economics. Kydland also said it would be necessary to recoup investor confidence in the Argentine government before foreign money will return in full force to the economy, something he didn't think the current government could do.

THE WASHINGTON TIMES , 10/27/2004
Aiding, not abetting
Adam Lerrick , The Friends of Allan H. Meltzer Chair in Economics; Director of The Gailliot Center for Public Policy, coauthored the book "The Road to Prosperity," and it is mentioned in this article. The authors argue that returning economic power and rights to individuals is the way to economic development. Some of the stations on the roadmap to prosperity include open markets and free trade; property rights; price stability; lower and equitable taxes; and liberalization of capital flows.

PITTSBURGH POST-GAZETTE, 10/28/2004
Hot Dogma: Man does not live by bun alone
An unorthodox hot dog and fruit shake shop has opened in the "catacombs" of Trinity Cathedral, Downtown. Its name: Hot Dogma. Matt Niblack (MBA 2004) is one of the three young entrepreneurs behind the business, which opened its Oliver Avenue door on Monday, and has committed themselves and a percentage of profits to a Christian cause.

PITTSBURGH POST-GAZETTE, 10/29/2004
New VP at Post-Gazette
The Post-Gazette has named Diana Block (MBA 2001) vice president and general manager, effective Monday. Block, 31, has been vice president of operations for the newspaper since last October. She previously held the positions of director of operations and director of systems.

SAN ANTONIO BUSINESS TIMES, 10/29/2004
Nobel winners helped push economics forward
As an unsettling economic situation unfolded in the early 1970s, my chosen discipline was searching desperately for new ways to look at the world. Among those who stepped into the breach were Norwegian Finn Kydland, Professor of Economics and American Edward Prescott, of Arizona State University, a Ph.D. alumnus and former faculty member from Carnegie Mellon, who collaborated to alter our understanding of business fluctuations and the policymaking process. In recognition of their seminal efforts during the late 1970s and early 1980s, they were awarded the 2004 Nobel Memorial Prize in Economics.

SPORTS ILLUSTRATED, 10/29/2004
Scheduling a More Perfect Season?
This week, major league officials are approving an alternate schedule produced by a computer team based at Carnegie Mellon University. When this version goes into play in April, 2005, it will become baseball's first computer-generated schedule. Michael Trick, The Bosch Professorship; Professor of Operations Research, President, Carnegie Bosch Institute for Applied Studies in International Management is the lead researcher in the baseball scheduling effort. "With as few as 10 teams, you can generate more possible schedule solutions than there are atoms in the universe. It's really remarkable" said Trick.

PITTSBURGH BUSINESS TIMES, 10/29/2004
Wired for Growth
Jack Roseman previously ran On-Line Systems, and Ken Fink (EMP 2000) took entrepreneurial management classes from him at The Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University. Mr. Roseman, now head of the Downtown-based strategic consulting firm Roseman Institute, said he is optimistic about Mr. Fink's new venture. "I know Ken Fink, and Ken Fink wouldn't go into this unless he knew there was a market for it," Mr. Roseman said. "My guess is he has a customer already in the bag. He's a very good businessman, and his word is good. You can't get anywhere in Pittsburgh unless people trust you."

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