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Archives for: May 2007


Pittsburgh Post-Gazette, 5/1/2007
Tepper School initiatives reflect growing interest in sustainability
Sustainability is an important area in the MBA curriculum, and the Tepper School has or is developing several initiatives as a result, says Art Boni, John R. Thorne Chair of Entrepreneurship, Associate Teaching Professor of Entrepreneurship, Deputy Director, Donald H. Jones Center for Entrepreneurship. For example, the school’s McGinnis Venture Competition added a special prize in sustainable technology this year, and plans to make it an ongoing part of the competition.

New York Newsday, 5/2/2007
Consumers who favor full-service departments will pay more for seafood
Consumers who are likely to stay loyal to full-service seafood departments at supermarkets tend to spend more on their selections, according to research by Vishal Singh, Assistant Professor of Marketing. Singh also found that the arrival of a Wal-Mart Supercenter and its self-service seafood department results in an almost immediate 17 percent sales loss for nearby grocery stores.

Bloomberg, 5/3/2007
Wolfowitz unlikely to win approval of French, British
World Bank President Paul Wolfowitz had a tough job before, and it’s even more difficult amid controversy that he approved a pay increase for his female companion, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says there is little Wolfowitz can do to win over the British or the French.

Time, 5/3/2007
Lerrick: World Bank should stop lending to middle-income countries
The World Bank should stop lending to middle-income countries and restructure its loans to the poorest nations as outright grants, says Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics and Director of the Gailliot Center for Public Policy. The World Bank’s net lending has plummeted the past few years, even as it continues shopping loans to countries such as Brazil, Turkey, Russia, and China.

Bloomberg, 5/3/2007
World Bank president appears intent on business as usual
World Bank President Paul Wolfowitz appears intent on showing that he is carrying on the business of the bank, says Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy. The bank dispenses $23 billion in aid to developing nations each year.

ESPN.com, 5/4/2007
Baseball takes another swing at computer-generated schedule
Major League Baseball is taking another shot at a fully-computer generated schedule courtesy of the Sports Scheduling Group, a Pittsburgh company founded by Michael Trick, Professor of Operations Research. From 1953 through 1982, the schedule was created on pencil and paper by a baseball historian, followed by a Massachusetts couple who devised it from their home office.

The Economist, 5/8/2007
Checklist helps students evaluate a business school’s character
The Tepper School of Business believes that identifying a school’s character is a factor on par with traditional ranking figures. That’s why, as part of its “MBA Reality Check” campaign, it has devised a checklist of questions students should ask when picking a school.

RealClearPolitics, 5/9/2007
World Bank loans parallel private sector lending decisions
During the last five years, 90 percent of the World Bank's loans went to 27 middle-income countries, which closely parallels private sector lending decisions, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Projects with the highest social or economic return are used to encourage the bank to make loans, but those projects would have been funded anyway, following the theory that money is interchangeable, as proposed by Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy.

Financial Post Canada, 5/9/2007
World Bank lowering fees to the point of losing money
To stay competitive in a world now awash in private capital, the World Bank has been lowering its fees to the point of losing money, says Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. In a 2005 study, Lerrick found that the interest subsidy embedded in bank loans fell from 12 percent per annum in 1999 to less than 2 percent today.

CNBC, 5/11/2007
Lerrick discusses problems facing World Bank
Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy; appeared on CNBC’s “Kudlow & Company” to discuss problems facing the World Bank.

CNBC, 5/11/2007
Tepper School MBA candidate appears on CNBC
Arthur Hyder, an MBA candidate 2008 at the Tepper School, appeared on Fast Money’s “Grade the MBA” feature.

BBC, 5/14/2007
Lerrick discusses World Bank on ‘World Business Report’
Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy, appeared as a guest on “World Business Report” to discuss the World Bank.

Livemint.com, 5/15/2007
Capital markets replacing role of World Bank
During the past five years, 90 percent of the money lent out by the World Bank went to 27 middle-income countries, rather than to poor nations, according to a study by Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Private capital flows to those 27 countries were a hundred times more than what the World Bank gave them, one indication of the institution’s replacement by capital markets.

Environmental Science & Technology, 5/15/2007
New research shows coal can be viable with policy action
New research co-authored by Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director of Green Design; Co-Director, Electricity Industry Center, says coal can be burned without raising consumer costs much higher than they are today, provided that several policy actions take place soon. The research provides an engineering-economic analysis for utility executives and public officials.

Bloomberg, 5/16/2007
Lerrick appears as guest on ‘On The Economy’
Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy, appeared as a guest on the Bloomberg program “On The Economy.”

USA Today, 5/16/2007
‘Not much is working’ at the World Bank
Not much is working at the World Bank, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, and the countries that have moved the greatest number of people out of poverty have done so through reforms outside the bank’s influence. In Africa, where the bank has been especially active, progress is less visible, Meltzer says.

USA Today, 5/17/2007
Electric rate freezes now trickling down to worker shortages
The impending shortage in utility workers is fallout from deregulation, according to Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director of Green Design, and Co-Director of the Electricity Industry Center. As many states froze electric rates in the 1990s, utilities cut payrolls to fatten profits and offset losses from the low-priced sale of power plants, Lave says.

Hartford Courant, 5/17/2007
U.S. goal: Triple the output of corn-based ethanol
The United States produces about 5 billion gallons of corn-based ethanol each year, and hopes to triple that amount in the years ahead, according to Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director of Green Design; Co-Director, Electricity Industry Center. Lave says projects are in development now to explore large-scale production of alternative fuel.

PBS, 5/17/2007
Development aid ‘not a popularity contest’
Development aid such as that provided by the World Bank should be a business and not a popularity contest, contends Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Lerrick describes the output as healthy productive people, and the profit rate as the number of people who are helped per dollar of aid.

Bloomberg, 5/18/2007
Municipalities’ low default rates not reflected in bond ratings
Bond ratings don’t reflect the low default rates of municipalities, according to Richard Green, the Richard M. and Margaret S. Cyert Professor of Economics and Management; Chair, PhD Program. For example, Green points out that Pennsylvania won’t stand idly by while garbage piles up in the streets of Pittsburgh or Philadelphia.

Cato Institute, 5/18/2007
Lerrick: Little to show for World Bank efforts
After a half a century and more than $500 billion, there is little to show for World Bank efforts, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics and director of the Gailliot Center for Public Policy. Lerrick says the living standards of the poorest nations have stagnated and, in some cases, declined.

American Enterprise Institute, 5/18/2007
Economists ask: Is the IMF obsolete?
Several years ago, it would have seemed absurd to question the relevancy of the International Money Fund, but the question is significant in today’s era of increasingly interconnected markets and more efficient risk management, according to an article co-written by Allan H. Meltzer, the Allan H. Meltzer University Professor of Political Economy. The article asks: Should the IMF redefine its mission, and if so, how?

Bloomberg, 5/18/2007
Wolfowitz’s departure makes a difficult job worse
The forced departure of World Bank President Paul Wolfowitz has made an already difficult job nearly impossible, according to Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy. Wolfowitz, who resigned yesterday, leaves an agency already weakened by the scandal surrounding his involvement in a pay raise for his companion.

Danish Public Television, 5/18/2007
Lerrick appears on Danish Public Television
Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy, was interviewed on Danish Public Television about issues facing the World Bank.

Bloomberg, 5/18/2007
Meltzer: Wolfowitz suffered from anti-corruption stance
World Bank bureaucrats and European governments did not want outgoing bank President Paul Wolfowitz to take a tough line on corruption, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says Wolfowitz foes wanted to “go on shoveling the money out of the door.''

Pittsburgh Post-Gazette, 5/20/2007
Alum launches shopping service for cell phone users
A shopping excursion in search of a new vacuum cleaner inspired Tepper School alumnus Alex Muller to launch a shopping service for users of mobile phones. Muller’s company offers Slifter.com, which helps users search their cities for merchandise.

Bloomberg, 5/21/2007
World Bank borrowers have ready access to credit elsewhere
The proportion of World Bank loans going to countries without international bond ratings fell from 40 percent in 1993 to 1 percent between 2001 and 2005, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; director of the Gailliot Center for Public Policy. World Bank loans accounted for just 0.4 percent of the capital flow to its top 10 borrowers, Lerrick says.

Earthtimes.org, 5/21/2007
Reform unwanted in World Bank culture, Meltzer says
World Bank insiders oppose reform because they get incentives rewarding them for making loans, according to Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy. Supporters of ousted World Bank President Paul Wolfowitz argue that he ran into resistance partly because he sought to shake up the bank’s traditions.

Investor's Business Daily, 5/21/2007
Uniformly low interest rates cause World Bank to lose money
In five years, the World Bank’s overall portfolio fell 12 percent. The interest rates it charges are so uniformly low that the bank loses $100 to $500 million annually, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy.

International Herald-Tribune, 5/22/2007
Wolfowitz defended practice of making loans to middle-income countries
In 2000, a Congressional advisory commission headed by Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, recommended that the World Bank stop making loans to middle-income countries and convert loans to the poorest countries into grants. Ousted bank President Paul Wolfowitz defended loans to middle-income countries as part of providing technical assistance to help them alleviate poverty.

New York Times, 5/23/2007
Opening markets reducing poverty; World Bank loans, not so much
Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy, says he once had high hopes that ousted President Paul Wolfowitz would transform the World Bank, and was disappointed that he did not. Meltzer says big gains in poverty reduction have come from opening markets rather than bank loans.

Pittsburgh Post-Gazette , 5/24/2007
Low immigration numbers may contribute to lack of entrepreneurs in Pennsylvania
Pennsylvania’s lackluster entrepreneurial numbers may be due in part to the state’s low immigration population, according to S. Thomas Emerson, Director, Donald H. Jones Center for Entrepreneurship; David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship. Studies show that immigrants create businesses at a higher rate than native-born Americans, although Emerson also notes that Pennsylvania’s business tax structure isn’t helping entrepreneurs, either.

Dr. Dobb's Journal, 5/24/2007
Academics, experience teach entrepreneurship
Entrepreneurship can be taught, according to Arthur A. Boni, John R. Thorne Chair of Entrepreneurship; Associate Teaching Professor of Entrepreneurship; Director, Donald H. Jones Center for Entrepreneurship. Boni says effective teaching requires a blend of experiential learning coupled with academic rigor.

MBA Universe.com, 5/25/2007
Rao elected to new board of directors at Graduate Management Admissions Council
Professor Mendu Rammohan Rao, dean of the Indian School of Business, has been elected to a three-year term on the board of directors of the Graduate Management Admissions Council. Rao earned his MSIA from Carnegie Mellon in 1968 and his PhD in 1969.

Bloomberg, 5/29/2007
Corruption is root cause of poverty in parts of Africa
World Bank ex-president Paul Wolfowitz earned enmity among bank staffers when he suspended aid to countries such as Chad and Bangladesh over concerns that corrupt politicians would steal the money. Corruption is the root cause of poverty in sub-Saharan Africa, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of The Gailliot Center for Public Policy.

Financial Times, 5/29/2007
New program in Qatar teaches entrepreneurship
A new executive education program at Carnegie Mellon’s Qatar campus seeks to foster the entrepreneurial spirit. The Tepper School and its Donald Jones Center for Entrepreneurship are offering the nine-month, part-time Executive Entrepreneurship Certificate Program beginning in September.

Inc.com, 5/30/2007
Tepper School to launch entrepreneurship program in Qatar
The Tepper School will launch its Executive Entrepreneurship Certificate Program in Doha, Qatar, in the fall. The program will focus on skills and techniques for managing technology ventures while offering hands-on experience through practical projects.

Pittsburgh Post-Gazette, 5/31/2007
Alum Diana Block named co-publisher of Pittsburgh Post-Gazette
Diana Block, MBA 2001, has been named co-publisher of the Pittsburgh Post-Gazette and The Blade of Toledo, Ohio. Block will continue as general manager for the Post-Gazette, and work with Co-Publisher and Editor-in-Chief John Robinson Block.

The Telegraph (London), 5/31/2007
Opening markets, not World Bank loans, have fought poverty
The World Bank is long past its sell-by date, according to Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer points out that opening markets, not bank loans, have made the biggest gains in poverty reduction.

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