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Archives for: April 2005

World Bank leader endorsed
"The bank badly needs somebody who asks simple but important questions like what works and what doesn't," said Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, about the nomination of Deputy Defense Secretary Paul Wolfowitz to head the World Bank. "For example, we have had this remarkable growth in China and India, which has reduced poverty a great deal. There have been World Bank loans (to those nations) during that time, but we don't know if those loans have been a positive, negative or neutral factor in that growth."

Wolfowitz elected World Bank president
Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, is mentioned in this article about Paul Wolfowitz’s appointment to the World Bank. Meltzer, who chaired a congressional panel of the bank in 2000, noted that President George W. Bush will likely use Wolfowitz to manage the budget and change the way projects are funded.

U.S. NEWS & WORLD REPORT, 4/1/2005
America's Best Graduate Schools 2006
The Tepper School of Business at Carnegie Mellon held its No. 17 ranking from last year among graduate business schools by U.S. News & World Report. Specific rankings included: No. 2 Information Systems, No. 7 Supply Chain/Logistics and No. 2 Production/Operations.

TECHYVENT, 4/4/2005
Full Rachet Anti-Dilution Protection Tough on Owner
“Unlike full ratchet anti-dilution protection that is effectively a 'do-over,' weighted average anti-dilution protection gives consideration to the relationship between the total shares outstanding as compared to the shares held by the original investor,” noted Frank Demmler, associate teaching professor of entrepreneurship, in his comparison of the two as part of his advice for entrepreneurs. Since investors insist on anti-dilution protection, Demmler recommends weighted average anti-dilution protection as a better choice for entrepreneurs than full ratchet anti-dilution protection.

Keeping pantries stocked with basic ingredient
Alumnus Paul Hamerly (BS 1977, MSIA 1979), who owns Kitchen Basics, a company that makes soup stocks, is featured in this article. After six years in business, Kitchen Basics is carried in nearly half the supermarkets in the country. "We picked an area of the industry that had a need," said Hamerly. "Our desire was to do something that was better than what was out there."

ITHACA TIMES, 4/6/2005
CU alum Wolfowitz chosen as World Bank president
A supporter of Wolfowitz’s appointment to the World Bank, Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, is quoted in this article. "No one can be certain about whether or not Paul Wolfowitz will succeed in reforming the World Bank," Meltzer said. "He has to get the approval of the executive directors from many countries to make major changes. That will not be easy."

The Tepper School of Business at Carnegie Mellon University is mentioned as one of the top 20 business schools to experience a decline in enrollment due to the improving economy. To continue the high-quality of incoming students and uphold admissions standards, Tepper has reduced its class size from 240 students to a target of 160.

The robot as manager; it does not compute
Michael Trick, The Bosch Professorship and professor of operations research, who scheduled this year’s Major League Baseball games, discusses the slight impact that baseball managers have on wins versus losses. "Most of the models say managers don't really make a difference," Trick said. "All you do is change the odds of winning." According to Trick’s calculations, managers' decisions transform games into wins less than 2 percent of the time.

BARRON'S ONLINE, 4/11/2005
EDITORIAL COMMENTARY: Weighing In on Wolfensohn
Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, is mentioned for his recommendations for the World Bank. “The bank's work, as the Meltzer Commission noted in 1999, is much more suited to a foundation-type operation delivering aid in the form of performance-based grants and technical help.” Meltzer is known for supporting reform at the World Bank and President Bush’s nomination of Paul Wolfowitz to lead the changes.

TECHYVENT, 4/11/2005
Down Rounds Just Aren't Founder Friendly But Some Are Worse than Others
Frank Demmler, associate teaching professor of entrepreneurship, continues his advice for entrepreneurs about anti-dilution, narrowing in on what this protection really means for start-ups. "The bottom line is that under most circumstances, full ratchet anti-dilution protection will be completely waived, while weighted average is likely to be accepted," wrote Demmler.

Homeless receive blessings -- off season -- at Valley shelter Universal backs 'Christmas' event
"We look for ways throughout the year to bring entertainment and to brighten up people's lives, and we're in the entertainment business, and it's just natural to have Christmas in the spring, for us anyway," said Larry Kurzweil (MSIA 1978), president and COO, Universal Studios Hollywood, about the annual event Universal Studios sponsored for homeless families. Kurzweil volunteered at Sunday's event with his wife and two sons.

Future CEOs May Need to Have Broad Liberal-Arts Foundation
"I advise students all the time, 'You've got to have something you can do for a company now. That's what gets you in the door. But if you want to succeed long term, you've got to have a broader range of skills and problem-solving abilities,'" said Robert Kelley, adjunct professor of organizational behavior and theory. This article discusses what it takes to succeed in today’s business world—broad-based, interdisciplinary skills—versus the straight business, accounting or engineering backgrounds that many current CEO’s have.

Falling Fortunes of the Wage Earner
Despite an improving economy, workers are not finding increased salaries. Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, addresses the economic issue of why wages are not increasing to match inflation. "What we're seeing now is not atypical; employers can't pay the wage bill to keep up with the oil price increase," said Meltzer. "I think the long-term trend will be that wages will right themselves and look like productivity growth on average."

B-SCHOOL NEWS - Grade Inflation: Devaluing B-Schools' Currency
A new study by Don Moore, assistant professor of organizational behavior and theory at Carnegie Mellon University's Tepper School of Business, and Samuel Swift, the director of the Tepper Behavioral Research Laboratory, investigates how inflated grades impact students’ acceptance to business schools. More and Swift discovered that students who graduate from an undergraduate institution with inflated grades are more likely to gain admission into top business schools than students from schools with tougher grading policies., 4/19/2005
The CIO as Intrapreneur
Frank Demmler, associate teaching professor of entrepreneurship, discusses the ambiguity of the CIO role: “In fact, do even you have a clear image of what the title C-I-O means? Is it the job you do? Is it the job that your predecessor did? ” Demmler suggests that leaders embrace the entrepreneurial spirit to make the most of their positions and to invent the future for their companies, becoming “intrapreneurs.” “The entrepreneur pursues opportunities and figures out the resource part along the way,” continued Demmler.

USA TODAY, 4/20/2005
MBA programs are getting extreme makeovers
Rebecca Nathenson (MBA 2005) chose the MBA program at the Tepper School because she wanted to understand both the marketing and engineering perspectives in business, flexibility that Tepper's nine career-oriented tracks allow. Nathenson comments on the changing role of managers: “The skills a product manager needs are the ability to work with many different people. In high tech, the job description is essentially to serve as translator. You need to be able to speak their language, and if you can't, you won't be respected.”

SCI-TECH TODAY, 4/21/2005
Earth Day Reactions Still Mixed
Thirty-five years after the first Earth Day, and the quality of the environment is still debatable. With East Asia’s fast growing economy, many researchers are concerned about how the human migrations to cities are impacting the land. “You could argue both that the glass is half full and half empty,” said Lester Lave, University Professor and a member of the EPA's science advisory board. Lave argues that as public awareness of environmental issues increases, government policies are reflecting the changes.

Circular logic on market bubbles
Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, is referenced in this article about the U.S. asset bubble in the late 1990s. “In 1998, Russia's default and devaluation, public remarks regarding credit and market risk models by William McDonough…But a one-sided bond market forced investors to seek safety in US stocks instead. Massive inflows abetted the climb in the NASDAQ and other indices,” writes the columnist. “The empirical vacuity of both the rational and irrational models has been stressed by Allan Meltzer of Carnegie Mellon University.”

CMU says hacker broke into computers More than 5,000 alerted to possible identity thefts
"We wanted to make sure our constituencies are aware of the situation and that they take steps to protect their privacy,” said Mike Laffin, director of public relations at the Tepper School of Business, about the computer security breach. “Appropriate law enforcement agencies will be contacted.” This hacking incident comes at a time when several other educational institutions, such as U.C. Berkeley and Northwestern, and major corporations have faced similar situations in the last few months.

Integrian, Inc., Welcomes New Vice President of Sales and Business
DevelopmentIntegrian, Inc, a developer of mobile digital video solutions, announced the addition of Robert Bradley (MSIA 1992) to the management team, as vice president of sales and business development. The announcement notes that “Bradley will oversee all inside and field sales activities within the organization, as well as other strategic business development initiatives. He will also direct Integrian's tactical and strategic marketing efforts.”

In Portland, living the green American dream: More young urban professionals are forgoing square footage for eco-friendly homes.
Green buildings are becoming a trend in areas with surges of young professionals, such as San Francisco and Seattle. “There clearly is an upward swing [in green building], but if you're talking about any real penetration into the mainstream, I don't think there's been any,” said Lester Lave, the Harry B. and James H. Higgins Professor of Economics, University Professor and co-director of the Carnegie Mellon Electricity Industry Center. Lave, who has supported green building since the 1960s, continues: “When I put on my economics hat, I think it is reprehensible for people to build buildings where they're focusing only on first costs. There's no excuse for it.”

Finding Someone to Fill Greenspan's Shoes
"Sometime in the next nine months, President Bush will make one of the most important appointments of his presidency, one that history suggests will affect the economy in the U.S. and abroad long past the end of his term: Selecting a successor to Federal Reserve Chairman Alan Greenspan," begins this Wall Street Journal article. “Every president wants and chooses someone who he believes will not harm him,” noted Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Though, once appointed, Meltzer acknowledges that the chairmen tend to assert their independence.

Tepper biz school weighs idea of offering local MBA
The Tepper School of Business is considering offering the FlexMode MBA, a distance learning program identical to the Pittsburgh-based degree, in the Orlando, Florida area. The MBA program could be offered through partnerships with companies such as Lockheed Martin and Harris or at a public campus. “You have all these companies with lots of engineers working, and it’s a great idea for a school like ours,” said Ilker Baybars, deputy dean. Currently there are FlexMode programs in Connecticut, Texas and California.

LATEST NEWS: Gupta named Wash. U. Business School dean
Mahendra Gupta (MSIA 1981), senior associate dean of the Olin School of Business at Washington University in St. Louis, will become dean of the Business School, beginning in July. In a statement Gupta said that "building on the success of our [Olin’s] experience in Europe and China, we will make Olin a global leader in executive education and programs." Gapa has been at the business school since 1990.

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