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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: June 2004

Creditor group shuns meetings on Argentine debt
This article refers to Adam Lerrick, the Friends of Allan H. Meltzer Chair in Economics and Director of The Gailliot Center for Public Policy. An expert on political economics and international lending, Lerrick represented European and Japanese retail investors at a meeting with the Argentinean government about its debt restructuring.

Navigation project might go to Senate, goal is to ease traffic on rivers
Lester Lave, the Harry B. and James H. Higgins Professor of Economics, University Professor, and director, Carnegie Mellon Green Design Initiative, says that experts have not had enough time to determine whether the proposed 3.1 billion dollar restoration project for the Mississippi and Illinois Rivers is warranted. Lave goes on to explain, “If you're going to justify some new locks, you have to have some increase in traffic," a factor which the statistics are not showing yet.

Business Gallery
Alumnus Bruce Knapp (MSIA 1985) was hired as a member of the business division at Eckert Seamans Cherin and Mellott.

Water-sewer agency pours out $90,000 for a study
Lloyd Corder, adjunct professor of marketing, is quoted in this article about the value of market research and his role in conducting focus groups for the Pittsburgh Water and Sewer Authority. Committed to customer service, the Pittsburgh Water and Sewer Authority launched this study for customer feedback on its procedures, the cost of which city budget critics questioned.

High school hijinks: diploma day poses a discipline challenge
Don Moore, assistant professor of organizational behavior and theory, discusses how teenagers’ behavior is often a way for them to define themselves. Moore explains that high school graduation pranks are a way for teenagers to “figure out what best way to make a mark on the world,” while many high schools are using harsher punishment for everything from loud cheering to throwing beach balls on graduation day.

Housing boom puts squeeze on electric utility
University Professor Lester B. Lave, co-director, Carnegie Mellon Electricity Industry Center, comments about the growing debt of power companies. Lave explains that electric companies usually borrow money for poles and wires to new homes, but with housing booms, increasing costs to generate electricity and price caps, Delaware Electric Cooperative will have to borrow even more money until next year when prices can legally be increased.

Business First
This article announces the speech, “Presenting Yourself with Impact—10 Ways to Make Yourself More Worth Listening To" by Sam Deep, adjunct professor of management and strategy. Deep’s speech is part of “Business First,” an executive networking breakfast sponsored by the Pittsburgh Business Times and the Greater Pittsburgh Convention and Visitors Bureau.

Rise of electronic trading may mean stocks could be quietly bought - or dumped
Duane Seppi, professor of financial economics, is quoted in this article about the trade-offs between speed and price for electronic trading on Wall Street. Seppi comments on how electronic trading at the New York Stock Exchange benefits large investors for anonymity but might eliminate lower prices from floor exchanges: “The execution time for (floor trade) is just a few minutes. Really we're saying do you want immediate execution down to the seconds, vs. am I willing to submit order to exchange and have the possibility of price improvement."

Greenspan's White House Visits Raise Questions About Policy Influence
This article quotes Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, about the complications of the Federal Chairman Greenspan’s job since he often works with the Bush administration. Meltzer explains that “The more a Fed chairman works with an administration and gets involved in administration policy, the harder it is for him to keep the administration out of monetary policy.”

NEWS JOURNAL (Texas), 6/15/2004
Security debate slows electronic voting
In this article, Michael Shamos, co-director, Institute for Electronic Commerce, Tepper School of Business, shares his research about voting, dispelling beliefs that electronic voting is less secure than paper ballots. “There is absolutely no evidence" that electronic voting has ever thrown an election, Shamos said.

Let the market find your core business - inflexible planning can miss the market need
In this article (21st in a series), Frank Demmler, associate teaching professor of entrepreneurship, shares his entrepreneurial expertise about business planning. He tells business-starters to think creatively and listen to the customers.

Schools tweak their business programs to meet needs, MBA degress are more flexible, offer different concentrations
John Mather, executive director, MBA Programs explains how the Tepper School's new MBA tracks ciriculum benefits students because they can select a corporate focus. This interdisciplinary strategy allows students to gain an in-depth understanding in fields such as e-business, entrepreneurship, biotechnology and international management.

VC Investment May Cost You Your Company- 6 out of 10 CEOs/Founders Booted within 4 Years
Frank Demmler, associate teaching professor of entrepreneurship, gives advice to entrepreneurs about what to expect when working with venture capitalists (22nd article in a series). He warns new entrepreneurs that they need to take steps to maintain their CEO status, even if they founded the company.

CHINA DAILY, 6/24/2004
IMF worsened Indonesian crisis, watchdog body finds
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted in this article. Meltzer led a congressional commission to investigate the fault of the International Monetary Fund (IMF), a global lender created to promote exchange rate stability and economic growth, in Indonesia’s 1997 financial crisis. On the basis of this work, Meltzer comments that the IMF lender made “big mistakes” with its advice to the Indonesian government but has since made improvements.

Testing of voting machines inadequate, election experts say
Michael Shamos, co-director, Institute for Electronic Commerce, is quoted in this article about voting security. A voting expert, Shamos spoke at a House Science hearing about the incomplete testing of electronic voting machines: “The processes that we're talking about here are much more out of control than anyone's willing to admit. There's virtually no control over how software enters a voting machine.”

PC WORLD, 6/25/2004
E-Voting Problems Expected
Michael Shamos, co-director, Institute for Electronic Commerce, is quoted in this article about the security of electronic voting. At a hearing of the Environment, Technology and Standards Subcommittee of the House Committee on Science, Shamos said that fraud is more likely now than it was 25 years ago, and that the security of these voting systems should not fall on the vendors but on an organized committee.

Voting machine inspection weak
Electronic voting expert, Michael Shamos, co-director of the Institute for Electronic Commerce, is quoted in this article from his testimony before the congress about the security of electronic voting. Shamos recommends intense state inspections as part of the testing process for voting machines by computer scientists, regulations which now vary from state to state in effectiveness.

Up, Yes. But How Much, How Fast?
Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, is quoted in this article about how the Federal Reserve is soon to raise interest rates. Meltzer says, “I think they are behind the curve, but I don't think it's unusual for them to let the market lead them up. It's not unusual for them to be slow to change at turning points."

Operation Everything
Michael Trick, The Bosch Professorship, professor of operations research, was interviewed for the story about the evolution of operations research from its theoretical beginnings to the current practical applications. Trick said of Carnegie Mellon's analytical reputation,"Having data doesn't give you productivity. Having better decisions gives you productivity. So if O.R. is all about the science of making better decisions, then this is clearly an area in which we'd like to claim preeminence."

Farmers seek solution to Mississippi River congestion
Lester Lave, the Harry B. and James H. Higgins Professor of Economics, University Professor and director of the Green Design Institute, serves on the National Academy of Sciences’ panel reviewing the US Army Corps of Engineers’ proposal for renovation to the Mississippi River. Lave says that river traffic actually decreased slightly, instead of increasing as the Corps predicted it would.

Should You Take a Smaller Piece of a Bigger Pie? Or Are You Better Off Retaining Ownership?
Frank Demmler, associate teaching professor of entrepreneurship, warns entrepreneurs that “Never, in the history of venture capital and entrepreneurship, has a company ever hit its plan.” In fact, Demmler says that 90% of companies are actually below plan. The familiar proverb—it’s better to take a small piece of a big pie, than to take a big piece of a small pie—is true from a business perspective, according to Demmler.

CNN/MONEY.COM, 6/30/2004
Fed Gone Wild?
"I don't think that you can set policy according to possible contingencies that may occur, but about which you have no information," says Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, in defense of the Federal Reserve’s slow interest rate increases. Critics of the slow increases worry that the economy is heading once again towards the inflation from the 1970s, or that the economic recovery will be stunted if there is another terrorist attack.

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