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Tepper In The News

For copies of articles in their entirety, please contact Barbara Donehue at 412-268-9885.

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Archives for: March 2004

Mellon exec to direct operations strategy
This article announces that alumna Guunjan Kedia (IA ’94) has been appointed Mellon Financial Corporation’s senior vice president and director of operations strategy. Before this position, Kedia worked at McKinsey & Co.’s Pittsburgh office.

In-depth: Education & Training: Case studies give MBA students real-world experience
This article mentions how MBA students from Carnegie Mellon helped Cepstral LLC brainstorm for business ideas with case study competitions. Students were able to get a great experience and expand their networks.

In this entry for BusinessWeek, Rich Morris (MBA 2004) anticipates the last part of his business education before heading back into the career world. He says that he will miss the student life with afternoon classes and casual dress but not the late night stress of finishing projects. About the second year, he says “I firmly believe that there is a learning curve involved in getting into the business school ‘rhythm.’ You get accustomed to the pace, the workload, the surroundings…Things just start to click, in a sense.”

More Reasons Preferred: Valuation Revisited
Frank Demmler, associate professor of entrepreneurship, begins his column by mentioning the McGinnis Venture Competition which was held at Carnegie Mellon University. Demmler gives a formula for valuation: Pre-financing value + investment = post-financing value. Demmler advises entrepreneurs on the benefits of preferred stock because it “provides the investor with extra benefits and rights as compared to the common stock shareholders.”

THE NEW YORK TIMES and several other major metropolitan daily newspapers , 3/18/2004
Investor donates record $55 million to Carnegie Mellon
Wall Street Investor and Carnegie Mellon University Alumnus David Tepper and his wife, Marlene, made a record donation of $55 million to the business school, the second largest naming gift to a business school in history. Tepper credits his success to what he learned while in B-school, particularly from Dean Ken Dunn. The school plans to use $5 million to retain and attract professors and the rest to increase the business school's endowment.

CMU receives giant gift
David A. Tepper didn't forget Carnegie Mellon University after he earned his master's degree in business administration there in 1982. Chances are, the university won't soon forget David Tepper,” begins the Post-Gazette article announcing the $55 million gift from Tepper and his wife, Marlene, to Carnegie Mellon’s business school. This is the second largest “naming gift” to any business school. Dean Dunn is also mentioned for “boosting the school’s profile.”

Alum says thanks to CMU -- $55M times
Alumnus David Tepper and his wife, Marlene, gave $55 million to the business school, renamed the Tepper School of Business at Carnegie Mellon. The largest gift in Carnegie Mellon’s history, the money “sends a very clear message about the school's value, and it obviously says the donor believes this is an institution well worth his support,” said Joye Mercer Barksdale, a spokeswoman for the Council for Advancement and Support of Education.

Carnegie Mellon’s Business School Receives $55-Million Gift
A $55 million donation from alumnus David A. Tepper and his wife, Marlene, will rename the business school as the Tepper School of Business. David Tepper is the president and founder of Apaloosa Management, a $3 billion hedge-fund investment firm based in New Jersey. “The outstanding education I received at Carnegie Mellon gave me the ability to analyze investment options in such a unique way that I am still capitalizing on what I learned there to this day,” said Tepper.

'How's that for a kid from Peabody High?'
Pittsburgh native David Tepper donated $55 million to Carnegie Mellon’s business school, a gift which will change the school’s name to the Tepper School of Business. Tepper remembers how the importance of giving was stressed in his childhood when his parents would debate between the annual vacation to Atlantic City and giving to the synagogue. "I always knew and never doubted he would be a success," Dean Dunn said of Tepper.

Pittsburgh Needs More ‘Industries’ Like Wecht
This article about Cyril Wecht, the corner of Allegheny County who receives national media coverage mentions Allan Meltzer, the Allan H. Meltzer university Professor of political Economy. Other Pittsburghers who are considered experts on a national level, according to the article, are Fred Rogers in entertainment and Allan Meltzer in political economy.

Founder of outsourcing powerhouse offers views
Sunil Wadhwani (MSIA 1976), founder of iGate, a $290 million a year company with approximately 5,000 employees, is featured in this article. On outsourcing, Wadhwani said, “If you look forward, the U.S. Bureau of Labor Statistics says that by the end of this decade, the U.S. economy is going to produce 20 million new jobs over what there is now. At the same time, the baby boomers are getting up there and retirements are going to be going up pretty dramatically. How is the staff going to be filled? To me, offshoring is one way to fill part of that gap.”

In Election Year, Fed Keeps Eye on Rates
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, says that there is no strong evidence that former Federal Reserve Chairman Arthur Burns held interest rates low during re-election time for Nixon. This article investigates the possibility of similar accusations during this election year as Chairman Greenspan is increasing rates.

Most Deals Backed by Private Investors
Frank Demmler, associate teaching professor of entrepreneurship, writes about how to secure private investors for small businesses in his ninth article in a series. Since all investors are individuals and have different interests and perceptions, Demmler prepares entrepreneurs to realize that there is no “one size fits all” approach. “If you approach a potential investor prematurely or inappropriately, you will lose that investor unnecessarily and for the wrong reasons,” says Demmler in his advice.

Why do overseas workers make so much less?
Adam Lerrick, the Friends of Allan H. Meltzer Chair in Economics, explains why workers in India, China and the Philippines make so much less money than workers in the United States. He says that in countries with low productivity the cost of domestic goods and services and wages is also low. The cost of living is also a factor in why the “low” wages allow workers a good quality of life: “They can live a much better life making $50,000 a year in Bangalore than making $100,000 in Silicon Valley,” Lerrick said. Eventually, Lerrick predicts that wages will rise in these countries and the jobs will re-locate to even cheaper nations.

Letter to the Editor: Business schools must make ethics as important as acumen
This letter to the editor commends the naming gift from David Tepper. “His philanthropy shows integrity and conscience and will contribute to many new leaders. He's demonstrated the philosophy he quoted of ‘learn, earn and return,’” said the writer.

Tepper credits parents, Judaism for sense of charity
“Not bad for a kid from Peabody High School, eh?” began David A. Tepper at his announcement for a $55 million gift to the business school at Carnegie Mellon. He says that his parents, Harry and Roberta Tepper, taught him the importance of giving. Tepper and his wife, Marlene, have long been donating to education, healthcare, literacy and the arts. He hopes that he will inspire others to give to the school with the publicity around his donation.

CMU business school alum hopes $55M gift encourages others to give
This article discusses the naming gift from alumnus David Tepper to the business school. Alumni Rich Goldberg (MSIA 1982), Joel Adams (MSIA 1986) and Robert Little (MSIA 1982) are quoted. Adams said of Tepper’s gift, “It takes leadership and hopefully that will create momentum for others to step up.”

How to Get Capital and Keep Equity
Frank Demmler, associate teaching professor of entrepreneurship, walks entrepreneurs through strategies to gain capital while holing onto equity. A revenue participation certificate is one option where you pay a specified percentage of revenues until the money is paid back. Demmler warns that although this is a simple deal, from an accounting and tax basis, is gets complicated.

Glimmer of hope in job market for this year’s graduates
This article about the improving job market quotes Ken Keeley, executive director of the Career Opportunities Center at the Tepper School of Business. According to Keeley, about 53 percent of full-times masters students at the business school who graduate in May have already received job offers. Also, 97 companies have made offers to Tepper MBA students, up from 76 last year.

Business Education: Windfalls from New Donor Class
The naming gift to the Tepper School of Business at Carnegie Mellon from David Tepper and his wife, Marlene, is mentioned in this article. "I think there's been too little of Wall Street people giving back. Hopefully this [his endowment] will make other people give back too," said Tepper. The trend of large donations to business schools from alumni, according to the article, is a result of the improving economy.

Greenspan’s diminishing aura
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, said that Federal Reserve Chairman Alan Greenspan “shouldn’t pay attention to public opinion.” This article discusses how Greenspan may be losing support because the public is not happy with the economy.

How to Rebuild A B-School: Carnegie Mellon’s Dunn is Shaking Up the Program—And Starting to Win Back Alums
This article profiles Dean Kenneth Dunn’s work at the business school. His “crowning achievement,” according to the article, is the financial support he has won for the school, David Tepper’s $55 million naming gift included. Other highlighted achievements are the new Tracks curriculum, the value placed on student input and the school's focus on interdisciplinary colloboration.

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