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

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Archives for: May 2004

Talent Scouting
Robert Kelley, adjunct professor of organizational behavior and theory, is quoted about uncovering workplace talent. "People come with more talent than the job they’re hired for,” said Kelley.

In the Money?
John R. Thorne, David T. and Lindsay J. Morgenthaler Emeritus Professor of Entrepreneurship, is quoted in this article about how to finance start-up companies. Before turning to outside investors, Thorne suggests using your own resources to help the company. “The more value you can add before you go to the well, the better,” said Thorne.

REUTERS, 5/3/2004
Fed should raise rates, shadow policy board urges
Bennnett McCallum, H.J. Heinz Professor of Economics, is quoted in this article. The Shadow Committee, which McCallum is a member of,did not suggest a target interest rate or a pace to get there. "A neutral long-run average interest rate in nominal terms is 4 percent, not 1 percent," said McCallum.

Mark Fischer (MBA 2005) writes entries about his MBA experience. This time he discusses the process of finding an internship—research, interviews and networking. “I found that the second-year students give some extremely helpful hints and insights into interviewing,” said Fischer.

IMF picks Rato as new chief
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted in this article about reforms at the International Monetary Fund (IMF). "The IMF did some of the things we proposed, for example shortening the list of conditions on loans and restricting the conditions to macroeconomic matters and reducing the amount of its bailouts," said Meltzer.

MARKETPLACE: Minnesota Public Radio , 5/13/2004
Election-year politics suspected in White House’s silence over possible reappointment of Fed Chairman Alan Greenspan
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is interviewed in this syndicated radio program. Anchor Daivd Brown frames the discussion by asking why Alan Greenspan’s re-nomination hasn’t been announced yet. Meltzer says that there is an innocent explanation for the delay: “the president has been occupied with various crises now for several months.”

Business News Briefs: CMU start-up takes top prize
EANeedle, a Carnegie Mellon team, won first place in the MOOT CORP competition, the “Super Bowl” of business competitions. EANeedle was awarded $150,000 to finance the start-up. Another team from Carnegie Mellon, Clear Count Medical Solutions, won first runner-up.

Working for $1 a Year: Dean Ken Dunn Profile
“Few business school deans truly practise what they preach. Kenneth Dunn is one,” begins The Financial Times’ profile of Dean Dunn. This article notes his accomplishment of doubling the annual fund during his first year. “I look at everything in terms of intellectual content, visibility and money. If it doesn’t do the first two, then it doesn’t fit,” said Dunn about how he decides on new projects.

Allow Up to a Year to Finalize Deal
Frank Demmler, associate teaching professor of entrepreneurship, gives advice to business starters on how to make money before investors become part of the picture. “It is likely to take you twice as ling to raise money as you think it will. Make sure you consider the opportunity costs of the fund raising effort before you launch it,” said Demmler.

The Journal Report: Best on the Street
According to The Wall Street Journal: “It wasn’t easy to make money in the stock market last year. It was harder to stand out in the crowd.” But Tepper School of Business graduate Kalpesh Kapadia (MBA 1999) did just that with his stock recommendations. Kapadia, senior manager and analyst at C.E. Unterberg, Towbin investment bank, was voted “Best on the Street” of analysts in the semiconductor group by the Wall Street Journal. During the six-month time period Kapadia recommended Trident Microsystems Inc., it returned 318 percent.

Update: US Treasury-Time for more reform at IMF, World Bank
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted about the budget of the International Monetary Fund. Meltzer said that Brazil, Turkey, Argentina and Indonesia hold 70 percent of the outstanding loans. Meltzer also calls for reforms because, he says, we do not know “which programs are effective and warrant expansion or retention.”

Greenspan is Renominated as Fed Chief
This article announces that Alan Greenspan has been nominated for his fifth term as chairman of the Federal Reserve. “It’s about time,” said Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy. Meltzer notes that the Bush administration waited until the last minute to make this announcement.

Crutch of Cheap Credit
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted in this article about the economic recovery. “We didn’t lose the jobs in automobiles and housing that we usually lose in a recession,” said Meltzer.

Speculation on stewardship of fed enters a pause
This article about the re-appointment of Alan Greenspan quotes Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy. Meltzer discusses the qualifications of a Fed chairman. Although economic knowledge is important, Meltzer notes the a chairman must be independent enough to withstand political pressure.

White House proposes Greenspan for fifth term
This article announces that President Bush nominated Alan Greenspan to his fifth term as chairman of the Federal Reserve. However, Greenspan is likely nearing the end of his reign. Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, says, “Greenspan has a tremendous following because his track record of making the right calls. But if you are a lame duck there is a danger this will affect your

SAP executive joins SmartOps’ board
Sridhar Tayur, Ford Distinguished Research Chair and professor of operations management and manufacturing, is mentioned in this article as the founder of SmartOps, a Pittsburgh-based software developer. The company’s client list includes businesses in pharmaceuticals, heavy equipment, technology, retail and others.

THE ECONOMIST, 5/20/2004
But Can You Teach It?
This article about lowered enrollment in business schols quotes Dean Kenneth Dunn. "My guess is that no top MBA programs cover their costs, because you need money to finance their research. You make it up out of endowment, gifts and contributions from companies," said Dunn.

Business news briefs: EANeedle wins another competition
This brief announces that EANeedle Inc., the biotechnology company started by a team of students from Carnegie Mellon University, won the final phase of the Pittsburgh Technology Council’s fifth annual EnterPrize Business Plan Competition. The team won $15,000 in the “new business" category.

BOSTON HERALD , 5/23/2004
With mutual funds, small is beautiful
Research by Richard Green, Richard M. and Margaret S. Cyert Professor of Economics and Management, is mentioned in this article. He found that skilled managers do better with smaller funds because performance isn’t as successful with large funds. “As long as the performance of the small fund that’s gotten larger remains better than similar funds, it makes sense to invest,” he said.

BOSTON GLOBE , 5/23/2004
College life, as seen from student level
Luke Skurman (BS 2002), founder of College Prowler, is featured in this article. His company writes the inside scoop for colleges and universities for prospective students. Skurman’s own experience inspired this idea: “I felt like I didn’t get a fair view of students’ perspectives at any university I visited.”

BLOOMBERG.COM , 5/24/2004
G-7 Ministers Urge Oil Producers to Raise Output
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted in this article about gas prices. Meltzer comments that the U.S. economy uses just half the oil per dollar of gross domestic product than 30 years ago. Further, he said that when current prices are adjusted for inflation, they are lower than they were two decades earlier.

What do a CMU prof, Argentina and Italy have in common? What else – money
Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics is mentioned in this article, Lerrick, an expert in monetary policy, was interviewed by Italian journalists because they invested heavily in the Argentine government. He notes that when lenders give money to governments there is no security, no collateral.

THE BOSTON GLOBE , 5/30/2004
'Strategy maps' aim to align firms' processes, assets
Robert S. Kaplan, former dean of the Graduate School of Industrial Administration at Carnegie Mellon (now the Tepper School of Business), is quoted in this article about the book, “Strategy Maps” he co-authored. ''Without a comprehensive description of strategy, executives cannot easily communicate the strategy among themselves or to their employees," wrote Kaplan.

What is one airline worth?
Ilker Baybars, deputy dean and professor of operations management and manufacturing, is quoted in this article about US Airways. The airline is considering moving its hub out of Pittsburgh. Baybars said, "In the final analysis, their expenses are very high, and for-profit organizations cannot survive if they're bleeding quarter after quarter. They will either go bankrupt or they will move to some other place."

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