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Archives for: December 2004


USA TODAY, 12/1/2004
Stores reconsider sales strategies after sluggish weekend
In spite of a burst of Friday spending, the holiday shopping season got off to a sluggish start last weekend, forcing retailers to reassess their strategies for luring buyers. "People are willing to spend on themselves so retailers should make loss leaders out of those items — jewelry, apparel, handbags, electronics — and then sell other things like toys at reasonable prices for convenience," says Peter Boatwright, associate professor of marketing and retail at the Tepper School of Business at Carnegie Mellon University.

SCOOP, 12/1/2004
Conference Hosts Leading Management Minds
The best management minds from around the world will be converging on the University of Otago next week for the 18th Annual Conference of the Australian and New Zealand Academy of Management. With the theme “People First – Serving our Stakeholders”, the conference features Professor Denise Rousseau, H. J. Heinz II Professor of Organizational Behavior and Public Policy, H. J. Heinz III School of Public Policy and Management and current President of the US-based Academy of Management and Professor Paul Goodman, Cyert Professorship and Professor of Organizational Psychology Director, Institute for Strategic Development; Co-Director, Center for the Management of Technology.

ASSOCIATED PRESS, 12/1/2004
Major League Baseball gets first new scheduler in 24 years
One of baseball's longest streaks will end in January when schedules for the 30 major league teams are released. A small company outside Pittsburgh, which inlcudes, Michael Trick, The Bosch Professorship; Professor of Operations Research, President, Carnegie Bosch Institute for Applied Studies in International Management, made it to the majors after attempting for eight years to unseat longtime schedule makers Henry and Holly Stephenson, a husband-and-wife team from Massachusetts that has been doing the Major League Baseball schedule for nearly a quarter century.

MLB.COM, 12/1/2004
MLB gets a new scheduler for 2005
Each year, Major League Baseball accepts competing scheduling proposals from outside groups. A small company outside Pittsburgh, the Sports Scheduling Group, which includes Michael Trick, The Bosch Professorship; Professor of Operations Research, President, Carnegie Bosch Institute for Applied Studies in International Management, has been selected by Major League Baseball to draw up the 2005 schedule, unseating the husband-and-wife team of Henry and Holly Stephenson, who have been doing it for 24 years.

THE NEW YORK TIMES, 12/6/2004
Greenspan's intuition may prove difficult to replace
When Alan Greenspan finally retires from the Federal Reserve, will he leave behind any of his DNA? Now in his 18th remarkable year as Fed chairman, the owlish and idiosyncratic Greenspan is required by law to step down in January 2006. "He is very idiosyncratic," said Allan H. Meltzer, professor of economics at Carnegie Mellon University and longtime historian of the Federal Reserve. "His greatest weakness is at this point. He had a very successful way of running the Fed, but he doesn't leave a method that somebody else can pick up and carry on."

TECHYVENT/PITTSBURGH, 12/6/2004
Summing Up Fund Raising Without Giving Up Equity A Valuable Web Reference
Frank Demmler, Associate Teaching Professor of Entrepreneurship, describes another fairly simple structure on how to sell a security to an investor that has a straightforward put and call. A put is an investor's right to force the company to buy his security upon specified terms - to put the security to the company. A call is the company's right to buy back the investor's security on specified terms, to call the security. This is the forty-second article in a series.

BLOOMBERG.COM, 12/8/2004
An Outsider for Treasury With Insider Views: Caroline Baum
If John Snow is asked to resign, as press reports and the White House response indicate, will Bush's nominee be an insider or an outsider, a shaper of policy or a spokesman for it, a player or a salesman? ``One of the least attractive aspects of this administration is the way they got rid of O'Neill and what they are doing by dangling John Snow,'' said Allan Meltzer, a professor of political economy at Carnegie Mellon University and author of a history of the Federal Reserve. ``They should do it with grace.''

PITTSBURGH TRIBUNE-REVIEW, 12/8/2004
Ernst & Young faces probe over AIG, PNC
The U.S. Securities and Exchange Commission is investigating Ernst & Young LLP for its role in designing and then auditing a financial product that PNC Financial Services Group Inc. allegedly used to inflate profit, according to an Ernst & Young spokesman. "There is a conflict of interest there," said Don Moore, Assistant Professor of Organizational Behavior & Theory at Carnegie Mellon University's Tepper School of Business in Pittsburgh. "Did it bias the individual auditors in this particular case? It's like asking whether 40 years of smoking led to someone's lung cancer."

ONLYPUNJAB.COM, 12/8/2004
Alliance Semiconductor Names Jeff Parsons as New Vice President of Finance
Alliance Semiconductor Corporation (Nasdaq:ALSC), a worldwide provider of analog and mixed signal products, high-performance memory products and systems solutions for the communications, computing, embedded, industrial and consumer markets, today announced the appointment of Jeff Parsons (MSIA 1983) as its new Vice President of Finance and Administration and Chief Financial Officer.

PITTSBURGH POST-GAZETTE, 12/9/2004
Courses help researchers decide whether they can cut it in the business world
This 12-week CMU course and one like it that begins in January at the University of Pittsburgh instruct scientists on navigating the often tricky terrain of turning their research into a business. "The fact that you've invented something doesn't necessarily make it a business," said Frank Demmler, Associate Teaching Professor of Entrepreneurship, who is also a veteran entrepreneur and venture capitalist who teaches the CMU class.

USA TODAY, 12/9/2004
Hard to cover all bases when creating schedule
Michael Trick, The Bosch Professorship; Professor of Operations Research, President, Carnegie Bosch Institute for Applied Studies in International Management, teaches operations research, specializing in "computational methods in optimization," at Carnegie Mellon's graduate business school. So his first reaction to helping make the Major League Baseball schedule wasn't to feel intimidated. "I figured how hard could that be?" he says. "I figured I'd pull out a couple standard approaches and come out with it quickly." Then Trick discovered MLB scheduling was far more difficult than many other statistical challenges.

TECHYVENT/PITTSBURGH, 12/13/2004
"Be Satisfied with Excellence, Leave Perfection Up to God" -- Sean McDonald
Among the most important traits, a leader must create a culture that embraces mistakes. First, you must acknowledge your own mistakes and correct them. In addition, you must encourage everyone in your company to make decisions appropriate to their responsibilities. This is the forty-third article in a series of articles written for TechyVent by Frank Demmler, Associate Teaching Professor of Entrepreneurship.

FORTUNE MAGAZINE, 12/13/2004
The Gray Flannel Office
Fifty years ago happiness was a job at a very big company. A look back at the days when the FORTUNE 500 was young and the Organization Man reigned supreme. Robert Kelley, Adjunct Professor of Organizational Behavior and Theory, is quoted in this article.

THE ARIZONA REPUBLIC , 12/15/2004
Trick now is to hitch Nobel pony to plow
A big fuss has been made locally, and rightfully so, over the Nobel Prize for economics going to an ASU professor, Edward C. Prescott. But little attention has been paid to the insights for which Prescott has been honored. The unique insight of Prescott and his collaborator Finn Kydland was that, even if done properly, attempts to fine-tune the economy could be self-defeating. That's because the prescribed fix necessarily changes over time. In his lecture, Prescott referred to "the inconsistency of optimal plans."

BUSINESSWEEK ONLINE, 12/15/2004
Malcom Johnson: Admissions, Pre-Term, and Orientation
The second journal entry in a series by Malcom Johnson (MBA Class of 2006)in the BusinessWeek online MBA Journals.

BUSINESSWEEK ONLINE, 12/17/2004
Mark Fischer: Learning in the Real-World Classroom
The second journal entry in a series by Mark Fischer (MBA Class of 2005) in the BusinessWeek online MBA Journals.

FINANCIAL TIMES (WASHINGTON), 12/17/2004
Debate will be no eulogy for Greenspan
When central bankers, academics and assorted financial market economists met at the annual US Federal Reserve symposium in Jackson Hole this year, the discussion was on the economics of ageing populations. Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, and historian of the Fed, argues there will be plenty to discuss: rules versus discretion, inflation targeting, the Fed's role as the lender of last resort, and asset price bubbles, for starters.

YAHOO NEWS - PRESS RELEASE , 12/17/2004
Quantitative Investment Team Joins Fifth Third Asset Management, Inc.
Fifth Third Asset Management, Inc. is pleased to announce the addition of Mark Koenig (MSCF 1995), CFA and Michael Wayton as its Quantitative Investment Team. The team will assume management responsibilities of the Passive Large Cap Core and Enhanced Large Cap Core separate account strategies. Fifth Third Asset Management sees this as an opportunity to implement additional stock screening tools to all portfolios, enhancing statistical risk analysis.

THE NATIONAL BUSINESS REVIEW (NEW ZEALAND), 12/17/2004
Surviving, even thriving, in the work jungle; Business education
American management professors Denise Rousseau, H. J. Heinz II Professor of Organizational Behavior and Public Policy, H. J. Heinz III School of Public Policy and Management, Tepper School of Business and Paul Goodman, Richard M. Cyert Professorship and Professor of Organizational Psychology Director, Institute for Strategic Development; Co-Director, Center for the Management of Technology are among the more formidable academic teams in the US. The couple was the star attraction last week at the 18th annual conference of the Australian and New Zealand Academy of Management (Anzam). More than 400 people from Australasia, Europe, North and South America, Africa and Asia were at the five-day conference at Otago University's school of business in Dunedin.

FINANCIAL TIMES (WASHINGTON), 12/18/2004
Symposium to weigh the work of Greenspan
This year, the focus of the Federal Reserve Jackson Hole symposium was the ageing population, and before that it was monetary policy uncertainty. Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, and historian of the Federal Reserve, said the question of rules versus discretion in monetary policymaking, inflation targeting, and the Fed's role as lender of last resort, were subjects for discussion at the symposium. Bill Dudley, chief economist at Goldman Sachs, said the question of how the Fed should deal with asset price bubbles would also be a good topic for discussion.

PITTSBURGH POST-GAZETTE , 12/19/2004
Entrepreneurship: End the confusion
Jack Roseman, taught entrepreneurship for 13 years at Carnegie Mellon University, is director of The Roseman Institute, a subsidiary of Buchanan Ingersoll, founder of two computer firms and president of a third, On-Line Systems wrote: 1.) It's critical to communicate a clear, simple message about who you are -- make sure the cover is the book; 2.) Avoid confusing your customers about your product or service by trying to be all things to all people; 3.) Select a small, well-defined market segment and make every detail of your operation support their expectations. As to attire, when you are going in to make a sale, dress just a little bit better than the people you're selling to. Do people judge a book by its cover? There is no doubt.

PITTSBURGH POST-GAZETTE, 12/19/2004
Forum: The folly of 'stop loss'
John Robertson, director of undergraduate programs at the Carnegie Mellon University campus in Qatar, writes that in the first place, unit cohesion, while somewhat important, is a dated concept for modern warfare. More important, while there may be a precedence of using "stop loss" in the first Gulf war, that war was too short to test its legality or effectiveness. I suggest looking for guidance on this issue to an earlier, larger and longer war that actually threatened the existence of the United States.

THE HERITAGE FOUNDATION , 12/20/2004
Multilateral Economic Development Efforts in Sub-Saharan Africa
Congress established the International Financial Institutions Advisory Commission (IFIAC), chaired by Professor Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy at Carnegie Mellon, to assess the role and effectiveness of the World Bank, the International Monetary Fund, the regional development banks, the Bank of International Settlements, and the World Trade Organization.

PITTSBURGH POST-GAZETTE , 12/26/2004
2004 Stories of the year
The naming of the Tepper School of Business in March was listed as the 8th biggest Pittsburgh business story of 2004. This $55 million contribution to the school is memorable, in part, because donor David Tepper is originally from the Pittsburgh area; he grew up in Stanton Heights and attended both The University of Pittsburgh and Carnegie Mellon University.

PITTSBURGH BUSINESS TIMES , 12/31/2004
Class Project Becomes Business
Business students Steven Fleck (MBA 2004) and Gautam Gahndi (BS 1996) turned a business plan competition idea into a start-up. Their company, ClearCount Medical Solutions Inc., will market a radio sequence device to keep track of surgical sponges during operations. "I think that the company fills a niche that is really needed in health care. It is an elegant solution to the real and pressing problem of patient safety," said Fleck.

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