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Archives for: November 2008


The Tartan, 11/1/2008
Tepper School alumnus contributes new mapping platform to Facebook
Facebook has landed a new mapping platform, thanks in part to Tepper School alumnus Andrew Johnson. Johnson, who earned a BS in 2003, and co-founder Anna Hentzel received one of Facebook’s first fbFund grants for their application TrailBehind, which is software people can use to plan hiking trips. URL for this article: http://www.thetartan.org/2008/11/3/news/facebook

Houston Chronicle, 11/1/2008
Lave: Neither candidate’s policy weans U.S. from foreign oil
Neither John McCain nor Barack Obama has proposed an energy policy that will actually wean the U.S. from foreign oil, according to 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. Lave says the key is cutting overall oil consumption. URL for this article: http://www.chron.com/disp/story.mpl/headline/biz/6089499.html

Kiplinger's, 11/1/2008
Moore: People make financial mistakes under pressure
Investors are willing to endure “crazy risks” in times of stress, says Don Moore, Carnegie Bosch Faculty Development Chair; Associate Professor of Organizational Behavior & Theory. Moore says people are more prone to make financial mistakes under stressful conditions.

The Heartland Institute, 11/1/2008
Meltzer: Bailout won’t unfreeze credit market
Allan Meltzer is among the economists who believe the government bailout will not unfreeze the credit market. Meltzer, The Allan H. Meltzer University Professor of Political Economy, is the author of several books on monetary policy and economic history. URL for this article: http://www.heartland.org/full.html?articleid=24141

Pittsburgh Tribune-Review, 11/2/2008
Argote wins award
Linda Argote has received the Institute for Operations Research and the Management Sciences Fellow's Award. Argote is the Carnegie Bosch Professor of Organizational Behavior and Theory. URL for this article: http://www.pittsburghlive.com/x/pittsburghtrib/business/s_596367.html

San Francisco Chronicle, 11/2/2008
Lerrick: Consolidation aided by bailout is unintended consequence
Consolidation in which strong banks take over weak banks, facilitated by the government, is not the policy Congress signed up for, says Adam Lerrick, The Friends of Allan Meltzer Professorship. Lerrick says instead of lending out money from the $700 billion bailout bill, banks are using the money to buy their weaker competitors. URL for this article: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/02/BUBJ13RVKD.DTL

Pittsburgh Post-Gazette , 11/2/2008
Cash is king for entrepreneurs, says Demmler
Cash is the key word in advising startups and would-be entrepreneurs, says Frank Demmler, Adjunct Professor of Entrepreneurship. Making cash flow a priority is what Demmler emphasizes in his graduate class on entrepreneurial thought and action. URL for this article: http://www.pittsburghlive.com/x/pittsburghtrib/business/s_596367.html

The Tartan, 11/3/2008
Spatt, Seppi honored with new titles
The Tepper School has honored two faculty members for their dedication. Chester Spatt is now the Kenneth B. and Pamela R. Dunn Professor of Finance, while Duane Seppi is the Mellon Bank Professor of Finance. URL for this article: http://thetartan.org/2008/11/3/news/briefs

Associated Press , 11/4/2008
Lave discusses energy market in podcast
Lester Lave spoke about the energy market in a podcast with the Associated Press. Lave is the 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. URL for this podcast: http://hosted.ap.org/dynamic/fronts/PODCAST?SITE=AP&SECTION=HOME#Business_Beat

Richmond Times-Dispatch, 11/4/2008
Goodfriend speaks at conference of high-school economics teachers
In an opening address to high-school economics teachers, Marvin Goodfriend traced the Federal Reserve’s monetary policy during the past 25 years. In his speech, Goodfriend, Professor of Economics and Chairman of The Gailliot Center for Public Policy, offered explanations of how the country got to the economic crossroads it faces today. URL for this article: http://www.inrich.com/cva/ric/search.apx.-content-articles-RTD-2008-11-04-0108.html

Newsday, 11/6/2008
Obama may try to rein in deficit, Goodfriend says
President-elect Barack Obama may try to apply the brakes on America’s rapidly growing deficit, according to Marvin Goodfriend, Professor of Economics; Chairman, The Gailliot Center for Public Policy. In July, the Bush administration predicted that the deficit would hit a record $482 billion, excluding costs associated with the financial crisis. URL for this article: http://www.newsday.com/business/ny-bzind065914258nov06,0,7061621.story

Exduco.net, 11/9/2008
Broad assortment needed to sell a category of products, research shows
Recent research co-authored by Peter Boatwright, Associate Professor of Marketing, underscores the need for a broad assortment to sell a category of products. Boatwright says that’s true even when only a few items are major sellers. URL for this article: http://www.exduco.net/news.php?id=3044

Uniontown Herald-Standard, 11/10/2008
PNC-National City merger will impact national banking landscape, says Spatt
PNC Bank’s takeover of National City will definitely impact the national banking landscape, says Chester Spatt, Kenneth B. and Pamela R. Dunn Professor of Finance; Director, Center for Financial Markets. Spatt says the merger has drawn interest because it is the first transaction since the creation of the Troubled Assets Relief Program. URL for this article: http://www.heraldstandard.com/site/news.cfm?newsid=20191905&BRD=2280&PA=461&dept_id=468387&rfi=6

CNBC, 11/11/2008
Government not on the right track in helping those who need it, says Meltzer
The government is not paying attention to things it could do to help truly needy people, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer referred to recent developments as “Congress in action.” URL for this article: http://www.cnbc.com//id/27662540

Financial Times, 11/11/2008
Meltzer: Excess housing supply is major culprit in economy
The main problem in both Britain and the United States is an excess supply of unsold houses, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. As long as the large unsold supply remains, prices will continue to fall, and the high risk in bundles of mortgages will remain until the market thinks it knows how far prices will fall, he says. URL for this article: http://www.ft.com/cms/s/0/18b7376c-afee-11dd-a795-0000779fd18c.html

Zawya.com, 11/11/2008
Markets have a history of circumventing regulations, says Meltzer
The financial markets offer many examples of circumventing rules written by lawyers and politicians, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. For instance, he cites the development of money market funds in the 1970s that got around restrictions on the interest rate that banks and thrifts could pay depositors. URL for this article: http://www.zawya.com/story.cfm/sidZAWYA20081111032645

Pittsburgh Post-Gazette , 11/11/2008
Boatwright: Consumers must spend or economy will worsen
Consumers drive about 70 percent of the nation’s gross domestic product, so if nobody spends any money, the economy is going to worsen, says Peter Boatwright, Associate Professor of Marketing. His advice to consumers: Spend judiciously. URL for this article: http://www.post-gazette.com/pg/08316/926927-28.stm

PBS, 11/12/2008
Meltzer: Paulson shift on bailout is good news
It’s good news that Treasury Secretary Henry Paulson has shifted gears on the economic bailout plan, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer believes Paulson must address excess housing instead of focusing on defaulting mortgages. URL for this transcript: http://www.pbs.org/newshour/bb/business/july-dec08/rescueplan_11-12.html

AME Info, 11/16/2008
Qatar enriches discussion of corporate responsibility, says Hooker
The Conference on International Corporate Responsibility met in Qatar this year because of the region’s dynamic business environment and distinctive cultural viewpoint, says John Hooker, T. Jerome Holleran Professor of Business Ethics and Social Responsibility; Professor of Operations Research. Hooker, the conference’s organizer, says the setting enriches the global discussion of corporate responsibility. URL for this article: http://www.ameinfo.com/175790.html

The Tartan, 11/17/2008
Obama’s charisma may help guide economy out of slump, says Culbertson
Charisma is one element that Barack Obama had over his competition that will manifest while he’s in office, says Robert Culbertson, Adjunct Assistant Professor of Entrepreneurship. Culbertson says Obama may be able to stir consumer confidence needed to guide the economy out of the recession. URL for this article: http://www.thetartan.org/2008/11/17/news/obama

The Tartan, 11/17/2008
Alum helps students learn to write Braille
A 2008 graduate of the Tepper School is among the students, faculty, and staff who are helping visually impaired students learn to write Braille. Ermine Teves, who earned a bachelor’s degree in Business Administration in May, is a project assistant for TechBridgeWorld. URL for this article: http://thetartan.org/2008/11/17/scitech/braille

The Tartan, 11/17/2008
Smoking limits meant to promote health awareness, says student
The goal of Carnegie Mellon’s new campus limitations on smoking is to promote health awareness, says Jared Itkowitz, a junior Business Administration and Chinese Studies double major. Itkowitz, who is student body president, says the policy is not mean to eliminate smoking on campus completely. URL for this article: http://www.thetartan.org/2008/11/17/news/smoking

Wall Street Journal Online, 11/19/2008
Study shows syndicated loans underperform
Corporate bank loans sliced and sold to outside buyers perform worse than loans kept by the lender, according to a new study co-authored by Antje Berndt, Assistant Professor of Finance. The study concludes that syndicated loans underperform nonsyndicated issues by 8% to 14% in trading in the secondary markets. This article can be found online by using the ProQuest database available to Carnegie Mellon users via this link: http://proquest.umi.com/pqdweb?did=1597531221&sid=1&Fmt=3&clientId=3259&RQT=309&VName=PQD

The Associated Press, 11/19/2008
People buying cheaper, buying less, says Vosgerau
As part of a renewed trend toward thriftiness, people are not only buying cheaper, they’re buying less, says Joachim Vosgerau, Assistant Professor of Marketing. Vosgerau, who specializes in consumer behavior, believes the trend will only continue. URL for this article: http://www.google.com/hostednews/ap/article/ALeqM5giMux1BkeQQ1GyrNYosvbJmPWhpgD94I6SSO1

Wall Street Journal Online, 11/19/2008
Meltzer: Deflation not a worry
Allan Meltzer had some advice at a conference for all those stressed about deflation: Go back to school. Meltzer, the Allan H. Meltzer University Professor of Political Economy, says falling oil and food prices reflect changes in levels, not the sustained rate of change in prices. URL for this article: http://blogs.wsj.com/economics/2008/11/19/2008s-deflation-scare-echoes-2002/

USA Today, 11/20/2008
Municipalities suffer more when credit markets are disrupted, says Green
When there is a disruption in the credit markets, municipalities suffer disproportionately, according to Richard Green, Richard M. and Margaret S. Cyert Chair; Professor of Financial Economics; Associate Dean, Research. Green says that’s because unlike companies, municipalities can’t issue equity or approach banks for loans. URL for this article: http://www.usatoday.com/money/economy/2008-11-19-muni-bonds-schools-cities_N.htm

Pittsburgh Business Times, 11/21/2008
Hiring freezes open recruitment opportunities for other companies
The downfall of Bear Stearns and Lehman Brothers combined with hiring freezes at other firms have opened up opportunities for other players to recruit from the Tepper School, says Rick Bryant, Adjunct Professor of Business and Executive Director of the MSCF Program. Bryant says he invited one firm back that in past years has tried unsuccessfully to hire out of the program.

Los Angeles Times, 11/25/2008
Lave: No bailout unless automakers address fuel efficiency
Congress should not give U.S. automakers a bailout unless they promise to focus on smaller, fuel-efficient and alternative-technology vehicles, says 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. Lave believes otherwise, Americans might go back to gas-wasting habits. URL for this article: http://www.latimes.com/business/la-fi-gas25-2008nov25,0,3196091.story

ECommerce Journal, 11/25/2008
Meltzer: Fed making same mistakes it made in the 1970s
Current problems reflect mistakes the Federal Reserve made in the 1970s, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. He says the Fed claimed it would not let inflation get out of hand, that the central bank would tackle it when the economy started growing, but they never did. URL for this article: http://ecommerce-journal.com/articles/11482_ben_bernanke_chairman_of_federal_reserve_and_world_crisis

The New Republic, 11/26/2008
Cap-and-trade would likely result in biggest cuts from electric utilities, says Apt
The bulk of cuts under a cap-and-trade emissions regime would likely come from the country’s electric utilities, says Jay Apt, Executive Director of Carnegie Mellon Electricity Industry Center, Associate Research Professor, Distinguished Service Professor in Engineering and Public Policy. Apt estimates that the electric-power sector could avoid or capture 80 percent of its emissions for about $65 to $90 billion per year. URL for this article: http://www.tnr.com/toc/story.html?id=ddacb89c-51d1-4d56-ac31-4df5234602f6

Pittsburgh Tribune-Review, 11/28/2008
Auto industry affects tens of thousands in Western Pennsylvania, says Lave
Big trouble at the Big Three automakers could affect Pittsburgh car dealers, financiers, parts makers, and other dependent on the auto industry. Tens of thousands of people in Western Pennsylvania have jobs dependent on the auto industry, says 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. URL for this article: http://www.pittsburghlive.com/x/pittsburghtrib/s_600496.html

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