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Archives for: October 2005


BAY AREA BUSINESSWOMAN ONLINE, 10/1/2005
Columns
Daphne Carmeli (MSIA 1991) is now President and CEO of Metreo, which has created price optimization software for the manufacturing and distribution industries. Touted as one of the foremost companies in its field, Metreo has grown by leaps and bounds - 300 percent consistently over the past two years - due to Carmeli's leadership and vision.

SILICONINDIA , 10/5/2005
People tracker
Neeraj Nityanand, MSIA 1988, was appointed as President of U.S. operations, Global Head of Sales and Marketing for Scicom Infotech, a provider for on-site and offshore product development services and technology consulting. Nityanand will steer the creation of a new generation of outsourcing business models for products and services in the technology and R&D space.

UNITED PRESS INTERNATIONAL, 10/21/2005
Businesses look to VoIP solutions
Voice over Internet Protocol technologies are the next advancment in communication being adopted by businesses to both expand features and reduce long-term costs. "I think in the long run, VoIP will be the dominant form of voice traffic for residential or business. This will take a decade or so. The last hand-cranked telephone wasn't taken out of service until 1974," said Marvin Sirbu, Professor of Engineering and Public Policy, Tepper School and Electrical and Computer Engineering, is quoted in this article.

INVESTOR'S BUSINESS DAILY, 10/21/2005
Fed Officials May Dissent More, Upset Markets Under New Chief
Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, shared his insights on the issue of the incoming Federal Reserve Chairman needing to prove his capability in the position that Greenspan has occupied, and with much success, for the past 18 years: "They'll want to see him tested. Greenspan had, in a sense, the good fortune that there was a crisis (Black Monday, Oct. 19, when the Dow lost more than 20%) within the two months of the time he acceded to the chairmanship, and he handled the crisis very well. That established him in the market as a credible chairman."

PITTSBURGH BUSINESS TIMES, 10/21/2005
Venture competition wants winners with local operations
The annual McGinnis Venture Competition has sweetened the pot again, but there's a catch. To be eligible for a new $100,000 investment package on top of the regular prize money -- provided to a life sciences company by the Pittsburgh Life Sciences Greenhouse and to a tech startup by Innovation Works --the winners must agree to have substantial operations in Western Pennsylvania. "Both the Greenhouse and Innovation Works are funded by state economic development money, so the winners are subject to the same requirements as any company they'd work with normally," said Arthur Boni, John R. Thorne Chair of Entrepreneurship; Associate Teaching Professor of Entrepreneurship; and Deputy Director, Donald H. Jones Center for Entrepreneurship.

PITTSBURGH POST-GAZETTE, 10/23/2005
Renewable energy still may be too expensive
The research of Jay Apt, Executive Director of Carnegie Mellon Electricity Industry Center, Associate Research Professor, Distinguished Service Professor in Engineering and Public Policy, is referenced in this article about alternative energy sources and how their costs are still too high for every-day users. Apt notes that wind blows only part of the time, so wind energy farms must be tied to other production to meet constant customer demand. Natural gas plants make the most sense because they can more easily be ramped up and down than coal or nuclear power. Solar, he said, costs so much that it made no sense except in smaller off-grid niche applications.

NEWSWEEK, 10/25/2005
A Good Choice
Allan Meltzer, Allan H. Meltzer University Professor of Political Economy, spoke to NEWSWEEK’s Susanna Schrobsdorff about what Ben Bernanke could bring to the job and about the economic challenges that will face a new Fed chairman. "I think if he’s going to be a successful Fed chairman, he will have to be independent," he says. Meltzer has written a history of the Federal Reserve and served as a consultant on economic policy for the U.S. Treasury, the Federal Reserve and the World Bank.

PITTSBURGH POST-GAZETTE, 10/25/2005
Economists: Expect more of the same: Experts predict new Fed chair will be 'nonpartisan policymaker'
Marvin Goodfriend, Professor of Economics, a longtime acquaintance of Federal Reserve Chairman nominee Ben Bernanke, described him as a "a very down-to-earth guy who enjoys talking to people. He enjoys listening because he wants to understand how the world works," Goodfriend said.

LOS ANGELES TIMES, 10/25/2005
Bush Picks Successor to Fed Chief Greenspan
Fed Reserve Board nominee Ben Bernanke has publicly states his support of rules and disclosure in the Board's practices. The focus on rules is where he differs greatly from outgoing Chairman Greenspan. Allan Meltzer, Allan H. Meltzer University Professor of Political Economy, explained: "Alan Greenspan is not an academic economist. He thinks academic economists are much more concerned with rules and models, while he's more concerned with making judgments. He has gone to some effort to establish that he is not following a rule."

PITTSBURGH TRIBUNE REVIEW, 10/25/2005
Local economists back nominee
Federal Reserve Board expert economist Allan Meltzer, Allan H. Meltzer University Professor of Political Economy, supports chairman nominee Ben Bernanke: "It's a good appointment. He's a very capable monetary economist."

INVESTORS.COM , 10/25/2005
Growth, Stable Prices Marked Greenspan Era
Alan Greenspan leave the Federal Reserve with quite an impressive legacy. Greenspan disproved the consensus that a free-market economy could not achieve "low inflation and full employment," said Allan Meltzer, Allan H. Meltzer University Professor of Political Economy.

INVESTORS.COM, 10/25/2005
Life without Greenspan pondered
The secret to Greenspan's success was to keep the Fed's primary focus on price stability even as inflation faded, economists said. Having won a few battles against inflation, Greenspan's Fed kept at it to make sure the war was won. "Volcker brought inflation down to about 4% -- Greenspan took it the rest of the way. It was very hard to bring it down to 4%, but it was also very hard to bring it down from 4% because at that point people weren't terribly concerned about inflation," said Allan Meltzer, Allan H. Meltzer University Professor of Political Economy, is quoted in this article.

HOUSTON CHRONICLE, 10/25/2005
Top economic adviser Bernanke chosen to replace Greenspan, who retires in January
Marvin Goodfriend, Professor of Economics, says that Federal Reserve Chairman nominee Ben Bernanke possesses the collegial bearing and good humor that is necessary to fit in at the Fed: "He's a down-to-earth person who is a lot of fun to be around," he said.

MSNBC, 10/25/2005
Bernanke faces reputation as inflation 'dove': As Fed governor, former Princeton economist led battle against deflation
Marvin Goodfriend, Professor of Economics, is quoted extensively in this article about Ben Bernanke and said his undeserved 'dovish' reputation: "That deflation risk was not very likely, but should it have happened it would have been very costly," Goodfriend said.

PR NEWSWIRE - PRESS RELEASE, 10/25/2005
Cyrus Freidheim, Respected Business Leader, Joins Hollinger International Board of Directors
Cyrus Freidheim (MSIA 1963) was appointed to Hollinger International Inc.'s Board of Directors and to the Board's Compensation Committee.

INDIA INFO ONLINE - INTERVIEW, 10/26/2005
Leader Speak
Nirav Mody (BS 2003) spoke with India Info online, about J. B. Chemicals & Pharmaceuticals Ltd.'s business and its growth prospects going ahead. Mr. Nirav Mody is a Vice President at J. B. Chemicals & Pharmaceuticals Ltd. He looks after Strategic Marketing and Business Development activities at JBCPL.

REUTERS, 10/26/2005
Bernanke's Fed to make no rush for inflation target
Experts speculate about Federal Reserve Board chairman Ben Bernanke and his policy toward inflation targets: ''He'll start to look at ways to move in that direction without being too radical,'' says Bennett McCallum, H. J. Heinz Professor of Economics.

BLOOMBERG NEWS , 10/26/2005
Greenspan era ends with acclaim, blame
As Greenspan leave the Federal Reserve, Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, credits him with the great success of building credibility for the Fed as an inflation-fighter - a major reason that long-term interest rates remained low as the economy was expanding during Greenspan's final year in office.

BUSINESSWORLD, 10/27/2005
STREET STRATEGIST; Hyperwage Theory
Allan Meltzer,The Allan H. Meltzer University Professor of Political Economy was one of two top economics experts consulted by the author of this article: "In the aftermath of the 1997 Asian financial crisis, in "A Debate in Hong Kong," I wrote about directing a question at two famous economists whether Keynesian or monetarism is the solution to the crisis. One was Alan Meltzer at Carnegie-Mellon University and author of books on monetarism and a critic of the IMF and World Bank, and the other was Lawrence Summers, former US Secretary of Treasury and now president of Harvard University and nephew of Nobel Laureates Paul Samuelson and Kenneth Arrow.

PITTSBURGH POST-GAZETTE, 10/27/2005
Utility to build nuclear plants: Westinghouse units would be first ordered in U.S. since '78
Duke has chosen Westinghouse's newest reactor design, the AP1000, for possible construction in its service territory of North and South Carolina was greeted with excitement at the company's headquarters campus. "For Westinghouse, they must regard [this] as a very good vote of confidence in their new design. This is a chance of bolstering their opportunity," said Jay Apt, Executive Director of Carnegie Mellon Electricity Industry Center, Associate Research Professor, Distinguished Service Professor in Engineering and Public Policy.

THE WALL STREET JOURNAL, 10/28/2005
COMMENTARY: Why is the World Bank Still Lending?
In this commentary, author Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of The Gailliot Center for Public Policy, critiques the World Bank's lending practices and notes that the net loan flows have shifted from a positive $10 billion in 1999-2001 to a negative $15 billion in 2002-2004.

CNN, 10/28/2005
So long Alan and 'measured?'
Ben Bernanke has pledged to continue Greenspan's policy of preemptively fighting inflation with interest rate hikes when necessary. But he also has been a proponent of so-called inflation targets, meaning that the Fed would alter monetary policy in order to attain a specified rate of inflation. "Inflation targets would be a good idea. There has been an evolution in the ability of central bankers and economists in explaining monetary policy and as leadership moves to a younger generation I would expect that to continue. Clearly, Bernanke is a person who has made communication skills very important," says Marvin Goodfriend, Professor of Economics Chairman, The Gailliot Center for Public Policy.

THE JOURNAL GAZETTE, 10/30/2005
Concierge services at work do errands
Between an increasing number of dual-career families with less time to run errands and companies’ aiming to offer unusual perks as a selling point to potential employees, experts say concierge services are becoming more popular. “People don’t have time, and either they’re going to steal the time from work and do it, or we offload it to somebody else like a concierge,” says Robert Kelley, Adjunct Professor of Organizational Behavior and Theory.

THE TARTAN ONLINE, 10/31/2005
The Rise of CyberConXion: How a couple of MBAs are trying to bring gaming to the world
Pittsburgh CyberConXion is the largest public access computing facility in Pennsylvania that offers PC and console gaming. Leon Edelsack (MSIA 1981) and Larry Hochendoner started it with the idea: "Let's do something different and take the disciplines that we learned in big company business and try to do it in an industry that's fragmented and generally unmanaged or poorly marketed, try to bring some business discipline - and in Larry's case technical discipline - to an area that we could probably make some money in," says Edelsack.

THE TARTAN ONLINE, 10/31/2005
The Rise of CyberConXion: How a couple of MBAs are trying to bring gaming to the world
Pittsburgh CyberConXion is the largest public access computing facility in Pennsylvania that offers PC and console gaming. Leon Edelsack (MSIA 1981) and Larry Hochendoner started it with the idea: "Let's do something different and take the disciplines that we learned in big company business and try to do it in an industry that's fragmented and generally unmanaged or poorly marketed, try to bring some business discipline - and in Larry's case technical discipline - to an area that we could probably make some money in," says Edelsack.

BUSINESSWEEK ONLINE, 10/31/2005
Entrepreneurs: Cream of the Young Crop Reconnaissance by Surrogate: Luke Skurman
Luke Skurman (MS 2004, BS 2002) was selected as one of the 20 most promising young entrepreneurs for his business College Prowler, which he started as a Tepper undergraduate in 2002. The series of no-holds-barred college guidebooks began thanks to $130,000 in capital from four angel investors within the first two years of operation. Today, he has a team of eight full-time employees and 214 student-authors nationwide. Skurman says 2005 revenues from book sales have grown tenfold since 2004.

THE NEW YORK TIMES , 10/31/2005
Chairman Nominee May Bring a New Openness to the Fed
Ben Bernanke is expected to bring openness to the Federal Reserve, and will need it, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy: "It's going to take a big educational job. Right now, we have a lot of people in the markets yelling about inflation... You have to explain what you're doing."

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