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Archives for: June 2007

New York Times, 6/1/2007
Tepper alum’s company is powered by wind
Lewis Hay, MSIA 1982, persuaded General Electric to switch its order to wind-powered turbines to avoid the disaster of a multibillion-dollar order of gas turbines when a gas generation glut was building. Hay is now FPL Group’s chairman and chief executive officer, and the company is building another giant wind farm in West Texas.

Scientific American, 6/1/2007
Scientific American spotlights organizational behavior research
A 1995 experiment by a team of researchers, including Linda Argote, David M. Kirr and Barbara A. Kirr Professor of Organizational Behavior; Director, Center for Organizational Learning and Innovation; demonstrated how team members benefit from their collective knowledge when they learn together. The researchers trained college students to assemble transistor radios either alone or in groups of three, and found that groups that trained together got better results.

Pittsburgh Tribune-Review, 6/1/2007
Pennsylvania needs firmer supply deals to attract modern power plants
Long-term, bilateral contracts are good for the electricity market, according to Jay Apt, Executive Director of Carnegie Mellon Electricity Industry Center, Associate Research Professor, Distinguished Service Professor in Engineering and Public Policy. While modern power plants using clean coal technologies are being built elsewhere, Pennsylvania probably won’t attract similar investments until firmer supply deals are allowed, Apt says.

AACSB eNewsline, 6/1/2007
Alumnus named Distinguished Fellow by American Economic Association
The American Economic Association has named Oliver Williamson, professor emeritus at UC Berkeley’s Haas School of Business, a Distinguished Fellow. Williamson earned his MSIA from the Tepper School in 1962, and his PhD the following year.

Pittsburgh Tribune-Review, 6/2/2007
SEC investigation shows dissatisfaction with Black Box Corp.’s internal audit
The Securities and Exchange Commission’s formal investigation into Black Box Corp.’s stock options practices shows the SEC is dissatisfied with the company’s internal investigation, according to Dale Hershey, Associate Teaching Professor of Law. Hershey says Black Box had hoped its own audit would avoid the latest step by the SEC.

Seeking Alpha, 6/7/2007
Spatt praises development of models in financial reporting
Chester Spatt, Mellon Bank Professor of Finance and Director of the Center for Financial Markets, says he supports the experimentation taking place in the development of new designs and innovations regarding models in financial reporting. Spatt, who is serving as the Securities and Exchange Commission’s chief economist, made the remarks in a recent speech.

EEMS Online, 6/8/2007
Plug-in hybrids trump coal-to-liquid road fuel, research says
Failure to use carbon capture and sequestration would actually increase emissions from coal-to-liquid transport fuel projects, which a congressional committee is proposing to subsidize, according to research from the Electricity Industry Center. In terms of strategy, the goals of energy independence and reduction of greenhouse gas emissions would be better served through plug-in hybrid vehicles charged with electricity from reduced carbon sources, the center writes in an issue brief.

Tooling & Production Online, 6/11/2007
Innovation, productivity can help U.S. manufacturers compete with China
Small and medium-size U.S. manufacturers should focus on innovation and productivity to remain competitive in light of China’s undervalued currency, which gives Chinese manufacturers a decided advantage. David Blanchard, an MBA candidate in the Tepper School, suggests that in order to make their companies more innovative and productive, manufacturing executives should first get a clear picture of what is happening on the plant floor.

Voice of America, 6/14/2007
World Bank staff morale is high, says Lerrick
Morale at the World Bank is high since the ouster of former President Paul Wolfowitz, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director, Gailliot Center for Public Policy. Lerrick says the firing of Wolfowitz represents the bank’s staff reasserting absolute control over the institution.

Pittsburgh Business Times, 6/15/2007
Alumnus Fujimori says Tepper School helped him stretch intellectually
The world-class faculty, small class size, and academic focus bridging theory and real-world application were all the factors that Tepper School alumnus Yoshiaki Fujimori considered when choosing a business school. Now the president and CEO of General Electric Asia, Fujimori says he enjoyed the way the school’s rigorous academic program offered him the chance to stretch himself intellectually.

Pittsburgh Business Times, 6/15/2007
Running a town is like running a business, says Rockville mayor
Running a local government is similar to running a business, but the constituents are the customers, says Tepper School alumnus Larry Giammo, who is mayor of Rockville, Md. Giammo says the key is to run a high level of business at the lowest possible cost.

Pittsburgh Business Times, 6/15/2007
Doctor liked Tepper School’s mathematical approach to business education
When Dan McChesney decided to bolster his medical degree with an MBA, he says choosing the Tepper School was easy, in part because he liked the school’s mathematical approach to problem-solving. McChesney, who graduated in 2005, is now the chief executive officer of NeuroLife Noninvasive Solutions Inc.

Pittsburgh Post-Gazette, 6/16/2007
Graduation overkill is reaching into youngest grades, says Hermann
The proliferation of graduation ceremonies for elementary and preschool children is getting out of hand, according to Chad Hermann, Lecturer in Business Management Communication. Hermann longs for the days when students simply got report cards at the end of the school year and looked forward to a good summer.

Pittsburgh Post-Gazette, 6/17/2007
When it comes to marketing to men, sometimes the numbers don’t add up
When Peter Boatwright, Associate Professor of Marketing, worked for Kraft Foods in the 1990s, the food giant talked about developing a good strategy to reach more men. However, the numbers didn’t add up to make that strategy sensible, says Boatwright, who was conducting market research on pricing.

The Coloradoan, 6/18/2007
Mexico is primary beneficiary of World Bank loans
The World Bank still lends about $20 billion annually, much of which is going to Mexico, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director, the Gailliot Center for Public Policy. Lerrick says the bank’s influence has been overshadowed by the rise of alternative sources for borrowing that are not bound by the same requirements.

Businessweek, 6/18/2007
Good networking starts from the ground up
Summer interns who are looking to network should start by reaching out to people who can still identify with a student intern, advises Ken Keeley, Executive Director of the Tepper School’s Career Opportunities Center. Waiting until later in the summer to talk to higher-ups also increases the chance that a colleague will put in a good word for the intern, he notes.

MSN Encarta, 6/18/2007
MBA candidates must demonstrate maturity, professionalism—even without work experience
While many business schools prefer their MBA candidates to have significant work experience, the Tepper School will admit students straight out of undergraduate programs if they have other credentials, says Laurie Stewart, Executive Director of Masters Admissions. According to Stewart, that means articulating realistic goals, demonstrating personal and professional maturity, and being able to sell themselves in the application and interview.

Wall Street Journal, 6/18/2007
Companies should act on problems identified by workers
It is good practice for companies to track employee attitudes, according to Robert Kelley, Adjunct Professor of Organizational Behavior and Theory. However, such efforts can backfire if companies don’t act on problems that workers identify, Kelley notes.

Christian Science Monitor, 6/19/2007
Enforcement of power grid reliability may be tough, says Apt
Heavy fines levied by the North American Reliability Corporation for power outages may be difficult to enforce, since the organization is run in part by the power companies it regulates. Jay Apt, Executive Director, Electricity Industry Center; Associate Research Professor; Distinguished Service Professor in Engineering and Public Policy, says plans for NERC to enforce a federal mandate for grid reliability will make for an interesting experiment.

Associated Press, 6/21/2007
U.S. still responsible for most of existing CO2 emissions
Though China has now overtaken the United States as the world’s top producer of carbon dioxide emissions, the U.S. is still responsible for the lion’s share of CO2 emissions currently in the atmosphere, says Jay Apt, Executive Director, Electricity Industry Center; Associate Research Professor; Distinguished Service Professor in Engineering and Public Policy. That is important because carbon dioxide lingers for a century, trapping heat below, he says.

Pittsburgh Post-Gazette, 6/26/2007
U.S. faces ‘carbon constrained future’
The United States is facing a “carbon constrained future” requiring a 60 to 90 percent reduction in greenhouse gas emissions to affect climate change, 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. Lave says those reductions can be accomplished through carbon capture and sequestration by electric power plants and other industries, development of nuclear power and renewable energy resources, and more energy efficiency.

University of Pennsylvania, 6/27/2007
Spatt: Economists agree, options are a business expense
While economists generally agree that options are a cost of business that should be counted as an expense, many business groups oppose the move, says Chester Spatt, Mellon Bank Professor of Finance, Director, Center for Financial Markets. Spatt, who is on assignment as the Chief Economist of the Securities and Exchange Commission, says it’s surprising that companies that apparently don’t understand the cost of a compensation tool would still use it so extensively.

Reuters, 6/28/2007
Cheaper power or better reliability: Pick one
U.S. power prices are cheaper than in the rest of the world, but the trade-off is lower reliability, according to Jay Apt, Executive Director, Electricity Industry Center; Associate Research Professor; Distinguished Service Professor in Engineering and Public Policy. Apt says countries like Japan invest much more into their infrastructure, but the cost of power is twice as high., 6/29/2007
Dunn reappointed as dean of Tepper School
Carnegie Mellon University's Board of Trustees has appointed Kenneth B. Dunn to a second five-year term as dean of the Tepper School of Business. Dunn's new term begins in July.

South Asian Media Network, 6/29/2007
Modest reforms won’t cut it for the IMF
When an institution such as the International Monetary Fund is in crisis, modest reforms will not suffice, says Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Lerrick points out that the IMF’s loan portfolio is $11.8 billion, down from $81 billion in 2004, and the fund now plays only a marginal role in the international financial system.

Bloomberg, 6/29/2007
IMF searching for new role
In the wake of losing Managing Director Rodrigo de Rato, the International Monetary Fund is struggling to find a new role, according to Adam Lerrick, The Friends of Allan H. Meltzer Chair in Economics; Director of the Gailliot Center for Public Policy. Lerrick says de Rato, who will quit in October, attempted moderate reform — but what the IMF really needs is bold reform.

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