In the News
August 2011
Companies can and do suffer if their employees are under the thumb of a mean manager, says Christine Porath, assistant professor at the McDonough School of Business at Georgetown University in Washington, D.C., and co-author of The Costs of Bad Behaviour: How Incivility Damages Your Business and What You Can do About It.
Students and faculty from across Georgetown University were invited to pitch their business ideas last year in the first-ever Hoya Challenge. Participants were eligible for $10,000 in cash prizes and workspace this summer at a local business incubator.
Earlier this week, David A. Thomas assumed the duties of dean of Georgetown University’s McDonough School of Business.
“There is a huge difference — during the financial crisis the banking sector broke down. Right now it’s a crisis of confidence based on weak economies but the banking sector is not broken,” said Reena Aggarwal, professor of finance at Georgetown University.
"You'll see firms hanging on to their cash even more than they already are," said Lee Pinkowitz, associate professor of finance in Georgetown University's McDonough School of Business. "Companies may start rushing to issue debt, to lock in, not because they have projects but because they're going to hold that cash."
Dropout Grants Raise Issue of College's Value, The Washington Times (August 1, 2011)
Trying to follow the examples of Mr. Gates, Mr. Zuckerberg or Mr. Kurek carries serious risk for the average student, said Brooks C. Holtom, associate professor in the McDonough School of Business at Georgetown University and consultant to the U.S. Chamber of Commerce, the International Monetary Fund and the World Bank.
Simona Campbell, Assistant Dean of the MBA Full-Time Program and Director of MBA Student Services at Georgetown’s McDonough School of Business points out, “Dual degree students have access to resources and support provided by both programmes, such as academic advising, career support and participation in student organisations.”
The recent announcement of President Obama’s White House Rural Council shows renewed Federal government recognition of the importance of investment in rural areas. As we continue to move forward in this digital age, we must also recognize that access to reliable broadband technology is one of the most important benefits that rural communities can have.
July 2011
Pietra Rivoli: The Chinese are our biggest lender. They hold around a trillion dollars of US Treasury securities. They are also our lender in other ways as well, because they don’t just hold the debt of the U.S. Treasury, they hold mortgage debt, they hold corporate debt, they hold all kinds of debt. So they are our biggest lender. And that relationship has been growing over a number of years now, because China has traditionally had a large trade surplus with the U.S. So we have a very symbiotic and very inextricably linked economic relationship. We owe Chinese lending finances our consumption from China.
White House and congressional leaders are scrambling to come up with a deal to raise the federal debt limit, but the uncertainty is already taking a toll on the state governments in Maryland and Virginia. Yesterday, Moody's Investors Service warned that Annapolis and Richmond could lose their coveted "AAA" bond ratings. We examine the collateral damage from Washington's messy fight over government debt.
In this interview for the High Frequency Trading Review, Mike O’Hara talks to James J. Angel, Associate Professor of Finance, McDonough School of Business at Georgetown University and author of a number of papers on the structure and regulation of financial markets, including “Fairness in Financial Markets: The Case of High Frequency Trading”, which he discusses here.
Ricardo Ernst recently was interviewed by CNN Espanol about the European debt crisis.
"In general terms, politicians only know how to grandstand in public and capitulate in private," said Chris Voss, the former FBI negotiator and now adjunct professor at Georgetown.
Consumers Can Shine Sunlight on Exploitative Vampire Brands, The Financial Times (July 12, 2011)
Sir, John Kay is spot on in his criticism of exploitative marketing practices (“The $10 minibar beer is no basis for capitalism”, July 6). His examples of minor customer exploitation have become too common business practices today and deserve more customer challenge.
Credo’s political marketing is also a boon for Sprint, the nation’s third-largest phone company, said Ronald Goodstein, a marketing professor at Georgetown’s McDonough School of Business.
James Angel, the Georgetown professor, said that the surest way to stave off any such doubts is for Congress to find a way to set aside political fights long enough to ensure that the country continues to pay its bills. Otherwise, he said, investors will punish the United States – and ultimately taxpayers – if and when checks stop showing up.
Georgetown University of the District named Ladan Manteghi, former AARP executive, executive director of the global social enterprise initiative at the University’s McDonough School of Business.
This isn't a small segment of the work force we're talking about. Bad office behavior is "extremely prevalent and growing," said Christine Porath, assistant professor of management at Georgetown University's McDonough School of Business.
Georgetown University’s McDonough School of Business has revised its EMBA curriculum with a format that provides additional customization through a greater choice of electives, leverages the school’s proximity to leading global business and policy organizations located in Washington, and broadens students’ global experience through international residencies.
The Grasso compensation and specialists scandals reduced the NYSE’s political power and gave the Donaldson-led SEC more leverage to push through new rules that reshaped the U.S. stock markets, according to James Angel, a finance professor at the McDonough School of Business at Georgetown University in Washington.
According to Christine Porath, assistant professor of management at Georgetown University’s McDonough School of Business and author of “The Cost of Bad Behavior,” while 94 percent of people do get even with managers or colleagues that exhibit bad behavior, “they choose a less violent route.”
Along with this vehicle, Sandeep Dahiya, associate professor of finance in Georgetown University’s McDonough School of Business, expects the region’s cadre of venture capitalists to further expand in the coming years amid stronger macroeconomics.
June 2011
"For all economic intents and purposes, Greece has already defaulted," said Sandeep Dahiya, professor of finance at Georgetown's McDonough School of Business. "There's no way Greece can repay all the money it owes."
“There’s enormous uncertainty about how the political process is going to grapple with those issues,” Georgetown University economics professor Brad Jensen says.
After graduating from Georgetown University with a degree in international business, Marisol Lizelle Salvador "wanted it all." ... Salvador quit her job, and in 2005 she founded the John D.V. Salvador Foundation (JDVSF), in memory of her brother.
"It feels like we are partying like it's 1999 again," says James Angel, an associate finance professor at Georgetown University who was on the New York Stock Exchange floor when LinkedIn, a social network for professionals, went public last month.
"A lot of times shoplifting is an inside job," said Jim Angel, associate professor of finance at the McDonough School of Business at Georgetown University.
Brooks Holtom, an associate management professor at Georgetown, said Nationals Manager Jim Riggleman's abrupt departure raises several important lessons about negotiations.
"We've been out there on this issue for some time," says Bill Novelli, who served as the AARP's chief executive from 2000 to 2009.
"The report constitutes the latest addition to the portfolio of governance research developed by The Conference Board to assist its member companies," says Matteo Tonello, Research Director of Corporate Leadership at The Conference Board and a co-author of the report with Jason Schloetzer, Assistant Professor at the McDonough School of Business at Georgetown University.
Americans face obstacles to getting information on Chinese companies, said James Angel, a professor at Georgetown University in Washington.
People on the Move, Washington Business Journal (June 22, 2011)
Ladan Manteghi, executive director, Global Social Enterprise Initiative, Georgetown University McDonough School of Business. Manteghi is responsible for managing the launch, growth and development of the initiative, including forging external partnerships, pursuing funding opportunities, creating and implementing a long-term strategic plan, developing an infrastructure and overseeing the initiative’s events, activities and day-to-day operations.
AARP on Social Security: A Game-Changer for Entitlement Programs? U.S. News & World Report (June 21, 2011)
U.S. News recently spoke with Bill Novelli, professor at Georgetown University's McDonough School of Business and CEO of AARP from 2001 to 2009, about the organization's latest comments and the future of Social Security.
A viewpoint piece by Bill Novelli:
I have talked to many physicians about Gawande’s article, and most thought he was on target about the difficulties the medical community faces in terms of communicating with patients with advanced illness, holding truthful (often difficult) conversations, and working within a health system that, despite its many strengths, still lags behind in the way it cares for people with illnesses that have reached advanced stages.
Henderson Confirmed as Schools Chancellor, The Washington Times (June 21, 2011)
Note: Henderson is a graduate of the Executive Master's in Leadership program.
Ms. Henderson, 40, is a native of Mount Vernon, N.Y., and received bachelor’s and master’s degrees from Georgetown University, according to her biography provided by D.C. Public Schools.
Hard Lesson: Unions Will Find Retail No Easy Target, Minneapolis Star Tribune (June 20, 2011)
The retail industry also brings unique challenges for unions. Low pay and limited work hours keep the workforce changing, making it harder to organize, said Douglas McCabe, a labor relations expert at Georgetown University's McDonough School of Business. And there's nothing in the law that disallows a company from waging a campaign against a union, McCabe explained.
“Sounds like common sense to me,” said James J. Angel, a professor at the McDonough School of Business at Georgetown. “The regulators have this tsunami of work dumped on them, and it’s important to get it right.”
"It is very, very significant that they got the requisite number of people to sign union cards [forcing an election]," said Georgetown labor relations Prof. Douglas McCabe.
The data below, for the top 25 highest earning MBAs, shows median pay ten years after graduation, 20 years out, and total pay over a career lasting 20 years. BusinessWeek calls the 20-year totals a “rough estimate.” Nonetheless, or most MBAs, that would mean compensation until they turn 48—long before retirement. So these numbers are conservative estimates of pay over a career.
In the Washington area, there are regular impact investing “meetups” for students and investors alike. They host happy hours, and discuss career opportunities, as well as investing ideas. The meetups are sponsored by the Calvert Foundation, DC Net Impact Professional Chapter, American University, Georgetown University, George Washington University, Johns Hopkins University, and the University of Maryland, among other groups.
David A. Thomas was named dean of the McDonough School of Business at Georgetown University
"One way to look at the federal debt is as a financial product sold by the people of the United States," says James Angel, associate professor at Georgetown University's McDonough School of Business. "Think of it as a huge bank account—people from around the world can store their spending value in a safe haven like the United States. If we demonstrate to the rest of the world that we're a bunch of idiots and we can't manage our affairs prudently, it's certainly going to hurt the status of the U.S."
The private group he singled out -- the Coalition to Transform Advanced Care -- is based in Washington, D.C., and co-directed by Bill Novelli of the McDonough School of Business at Georgetown University, Tom Koutsoumpas of the Mintz Levin Center for Health Law & Policy, and Myra Christopher of the Center for Practical Bioethics. It is funded in part by grants, including a grant from the SCAN Foundation.
As AARP’s CEO from 2001 to 2009, I spent a lot of time talking to our members and others across the country about Social Security. I generally heard three messages. First, people would ask, “Is there really any money? Didn’t Congress spend it all?” Second, seniors receiving Social Security or those close to that age would say, “This isn’t just about my generation; we need this for our kids and grandkids.” And third, when they heard about the long-term problem Social Security faces, they would invariably want to ensure that the program would be solvent for the future.
10 a.m.: Cass Sunstein, administrator of the White House Office of Information and Regulatory Affairs, delivers remarks at a conference on “The Evolution of Regulation: Lessons and Opportunities” at Georgetown’s McDonough School of Business.
“Once a company has a legally organized union, that union becomes a co-manager with the company over wages, hours and working conditions,” said Douglas McCabe, a labor relations professor at Georgetown University’s McDonough School of Business.
Georgetown University's McDonough School of Business has named David A. Thomas dean, effective Aug. 1. Mr. Thomas, currently the H. Naylor Fitzhugh Professor of Business Administration at Harvard Business School and director of that school's organizational behavior unit, is taking the helm from George Daly, who is retiring after a six-year stint.
May 2011
David Thomas has become the latest Harvard Business School professor to leave the institution to become dean elsewhere. The professor of organisational behaviour will become dean of the McDonough school at Georgetown University in Washington DC from August 1.
Georgetown University’s McDonough School of Business has a new dean: David A. Thomas, a professor and former associate dean at Harvard Business School, the school announced today.
Georgetown University has named David Thomas, a professor and former associate dean at Harvard University, as dean of its McDonough School of Business.
Chief Executives of organizations such as the World Society for the Protection of Animals (WSPA), UK's RSPCA and Compassion in World Farming will take part in a full day of seminars with senior Kenyon Fraser’s social marketing experts, alongside Professor Alan Andreasen of Georgetown University, USA, who is one of the World's most respected social marketers.
"I think in the first weeks everybody was optimistic and happy. But now, everybody's exhausted," said Hatem Mahbouli, who is studying for a master's degree in business at Georgetown University.
An editorial co-authored by Michael Czinkota:
Manufacturing competitiveness depends heavily on the government’s application of export controls. Export controls are a principal means of defending a nation’s high technology advantage over potential adversaries. In the United States it has been 23 years since the last major re-write of the Export Administration Act (“EAA”), the legislation that provides the basic authority for the President to control exports. In the interim, U.S. practices have become ineffective and inefficient. Unless there is an update of the export control system, lack of coordination will decrease international manufacturing competitiveness.
"The only thing the exchanges have, really, is their brand image," said James Angel, associate professor of finance at Georgetown University's McDonough School of Business. "If their brand image gets tarnished by fraudulent companies, it's going to make it really hard to attract listings."
University Applauds MSB Dean Daly's Service, The Hoya (May 19, 2011)
About 65 colleagues, students, administrators and faculty celebrated the accomplishments of George Daly, the outgoing academic dean of the McDonough School of Business, Tuesday evening outside the Rafik B. Hariri Building.
Though each of the four undergraduate schools saw a jump in yield — 48.7 percent at the School of Foreign Service, 52.9 percent at the School of Nursing and Health Studies and 41.2 percent at the College — the biggest increase was at the McDonough School of Business, where 340 of the 536 accepted students will be studying next year. This 63.4 percent yield rate represents a statistical increase of 7.3 percent from last year's data.
A blog post by MBA Candidate Adrienne Weil:
Five years ago in DC, you would have been hard-pressed to find an entire conference devoted to “The Future of Food.” Thankfully, times have changed. DC truly is one of the most appropriate places for such an exchange of ideas. We’re a burgeoning foodie town, and crucial policy decisions occur down the street. Hundreds gathered in Georgetown’s Gaston Hall on May 4 for a day of panels focused on ordinary people, the future of agriculture, health and nutrition and international food.
Yet, more changes need to be made, says James Angel, professor at Georgetown University: "We've made good progress, but we need to put better (safeguards) in place for all stocks."
Bernanke Says Government Should Fund R&D Projects to Boost Economic Growth, Bloomberg (May 16, 2011)
“We should also keep in mind that funding R&D activity is only part of what the government can do to foster innovation,” Bernanke said in prepared remarks at a conference at Georgetown University. “Ensuring a sufficient supply of individuals with science and engineering skills is important for promoting innovation, and this need raises questions about education policy as well as immigration policy.”
Doris Buffett Transfers Wealth of Knowledge to College Students, The Washington Post (May 15, 2011)
“It’s still hard for me now,” said Michael Giansanti, a junior studying finance and international business in Georgetown’s McDonough School of Business. “I was one of the students that asked my classmates, who are we as college students to pick who should get the money — these nonprofits doing amazing work?”
Interview with Pulse Point President Alan S. Berson, WashingtonExec (May 14, 2011)
A graduate of the University of Pennsylvania Wharton School of Business, Berson worked in several Fortune 500 companies and taught at Georgetown’s McDonough School of Business. He recently answered a few questions for WashingtonExec about his career and outlook on life.
Futures and Options: Business-Related Events in Washington, The Washington Post (May 14, 2011)
Monday: Speech by Federal Reserve Chairman Ben S. Bernanke at Georgetown University forum on jobs and economic growth.
"What we're seeing now is that other economies, as they come out of recession faster than we are and [are] experiencing more robust growth than we are, their central banks are starting to tighten and raise interest rates making those countries look more attractive," says J. Bradford Jensen, associate professor of international business and economics at the McDonough School of Business at Georgetown University. "They might sell U.S. dollar-denominated assets to purchase assets in other currencies, which puts downward pressure on the dollar."
"It makes sense they disclose more now," said James Angel, professor of business at Georgetown University. "It doesn't cost them anything."
For most firms, the ability to beat Wall Street's estimates involves as much psychology as it does business chops. Investors punish companies that fail to meet estimates. Knowing this, managers often offer conservative guidance to investors, if they offer any guidance at all. That's why it's noteworthy when executives raise guidance. In effect, they're saying, "Have I got news for you," says Sandeep Dahiya, associate professor of finance at Georgetown University's McDonough School of Business.
I was visiting Vietnam (and subsequently Cambodia) on a Global Residency trip with my MBA program at Georgetown University's McDonough School of Business. Although I'd still need to take classes on our return to campus, this trip would be a culmination of my learning in global business, concluding in a consulting presentation to a Vietnamese client for whom my team and I created a global branding strategy and regional entry plan.
Quoting requirements for firms that act as market makers is one of a broader set of changes to equity trading rules the SEC is considering, David Shillman, associate director of the SEC’s division of trading and markets, said May 5 in an interview at a Georgetown University conference in Washington.
Then, when she was passed over for promotion for the second time because her boss didn’t think she could handle the job and her “family responsibilities,” Jennifer Folsom, an Alexandria consultant with an MBA from Georgetown, had had it. ... It’s a philosophy that has worked for Karin Lisack, another woman with a Georgetown MBA who found out the hard way that the “family friendly” policies at her company depended on the goodwill of individual managers — a common problem, several studies have found.
Georgetown University finance professor James Angel explains it was already a turbulent trading day. James Angel: Normally, the market could have handled an order that big, but the market was in just enough of a jittery moment that the big order caused prices to fall.
...and today's Quote of the Day comes from James Angel, a professor at Georgetown University. Since the notorious "flash crash" exactly one year ago today, exchanges and regulators have implemented a slew of initiatives to guard against quick and dirty price plunges. However, it's nearly impossible to prevent every potential glitch, especially with computers -- not humans -- at the wheel, as Angel (somewhat philosophically) reminds us: "Murphy's law hasn't been repealed."
Georgetown MBA Student Talks Green Marketing and Creating Her Own Internship, Eye of the Intern (May 6, 2011)
Adrienne Weil is an MBA candidate with an emphasis on marketing and socially responsible business at Georgetown University’s McDonough School of Business. She has worked on Georgetown’s Global Social Enterprise Initiative, interned at Nestle and worked as a health care consultant for the Advisory Board Company. She also has a bachelor’s degree in international relations from Brown University.
The Many Roads to CEO: First in a Series, The Wall Street Journal (May 6, 2011)
Tim O'Shaughnessy, CEO of LivingSocial since 2007: I grew up in Minnesota, and learned how to be an entrepreneur from my father, who has run a small business for almost 30 years. I went to Georgetown University and tried a lot of ventures in college with varying degrees of success, ranging from live-in chef (mildly successful) to running a handyman business (moderately successful) to running a hardwood flooring operation (a definitive flop).
Market Waiting for Big-Name REIT IPOs, REIT.com (May 6, 2011)
The theme of the recent Georgetown University McDonough School of Business and NAREIT Spring 2011 Real Estate Luminary Series was "Commercial Real Estate: Moving from Recovery to Expansion." Martin Cicco, senior managing director with Evercore Partners, said the market has come along way in a very short period of time.
eBay Bylaw Change Could Spur on Activist, Auction Bytes (May 6, 2011)
"Supermajority voting requirements to amend corporate bylaws generally represent a higher hurdle for shareholders to initiate governance change relative to simply majority voting," said Jason Schloetzer, an assistant professor of accounting at Georgetown University's McDonough School of Business.
The Associated Press interviewed two finance professors who have studied the flash crash and written about market vulnerabilities. Georgetown University's Jim Angel and the University of Maryland's Albert "Pete" Kyle also spoke at a Georgetown conference Thursday on lessons one year after.
“Exchanges and regulators have done a lot over the last year. Stocks can’t move as far out of whack as they could before,” said James Angel, professor at Georgetown University in Washington, “Murphy’s law hasn’t been repealed. Anything that can go wrong will go wrong. We need safeguards for when the next event occurs.”
"The reality is that speed is going to continue to be a characteristic of our financial markets," Durkin said in prepared remarks Thursday at an event hosted by Georgetown University.
Speaking prior to the Georgetown University McDonough School of Business and NAREIT Spring 2011 Real Estate Luminary Series, Robert Steers, co-chairman and co-CEO of Cohen & Steers, said the strong run REITs have been on can continue for the rest of this year.
U.S. and Sweden Top World Broadband Connectivity Scorecard, US Telecom (May 5, 2011)
The United States and Sweden essentially finished in a tie among innovation-driven economies on the 2011 Connectivity Scorecard Index, said Professor Leonard Waverman, the creator of the scorecard’s methodology and a Fellow at the London Business School. The results were announced at the Georgetown University McDonough School of Business Program for Telecom Executives, presented in partnership with USTelecom.
Industry leaders discussed the transition from a recovery phase to expansion in the commercial real estate market during a panel at the Real Estate Luminaries Series event on May 3 at Georgetown University. The event was sponsored by NAREIT and Georgetown’s McDonough School of Business.
What do MBA students need to know in order to achieve career success? This is the question I asked myself before presenting to students at Georgetown University’s McDonough School of Business as part of their 2010-2011 MBA Leaders Series.
Take Georgetown University, for example, which just recently (April 18, 2011) thanked the many people (student leaders, faculty, business leaders and volunteers) for their entrepreneurship activities at the first annual Georgetown Entrepreneurship Celebration. Campus organizations, such as Compass Incubator, the Energy and Cleantech Club, Georgetown Entrepreneurship Organization (GEO) and the Kairos Society were recognized for their contributions.
To honor her late brother, the family established a scholarship at Loyola Blakefield in 2002, and a room at Georgetown University's McDonough School of Business is named for him. Sunday night's news closes a chapter in his legacy.
The Georgetown University McDonough School of Business is hosting a panel of commercial real estate experts, including David Simon, chairman and chief executive of Simon Property Group, in a discussion of the sector’s move from recovery to expansion. The session is slated to begin at 4 p.m. at the school’s Rafik B. Hariri Building, 37th and O streets NW in the District.
Examples she mentioned include the McDonough School of Business at Georgetown University, the Hickok Cole office at 1023 31st St. NW and the Group Goetz Architects building at 2900 K St. NW.
April 2011
Doreen Amorosa and Simona Campbell comment for this story:
For some international students, finding a job is about more than economics: it can also be the difference between staying in the United States or moving back home.
Topping the list of executive MBA programs in today’s print edition is Georgetown University McDonough School of Business. The list is ranked by enrollment and includes each university’s tuition rates, class and faculty size and a description of the top industries represented in their programs.
This cultural connection is an excellent example of a concept developed in international business. Psychological distance is the perceived distance from a firm to a foreign market, caused by cultural variables, legal factors, history and other societal norms. A common model used to demonstrate this theory is a comparison of the link between the United States and Canada, with the United States and Mexico. Americans tend to identify more with Canada than with Mexico. Both countries border the United States, but for reasons of language and culture, Canada appears to be psychologically much closer.
"Crazy Hair" was a candy that couldn't be found on Long Island — unless, of course, you were buying it from Andrea Constantine (MSB '12).
Last week, I had the privilege of attending a book-signing event sponsored by Georgetown Career Services and the Georetown Women in Business Club of the McDonough School of Business at Georgetown. The speaker was Christine Brown-Quinn, who has authored a new book, Step Aside Super Woman.
Working: When Success is More than a Title, Washington Post Capital Business (April 24, 2011)
Douglas McCabe, a professor of management at the Georgetown University McDonough School of Business, says something almost cosmic happens when someone is given such an exalted title. “Titles are a form of recognition,” McCabe says, “and research shows that recognition is a motivator.”
Optimal Capital Structure, Harvard Law Forum on Corporate Governance and Financial Regulation (April 22, 2011) The following article is co-authored by Jie Yang:
In our paper, Optimal Capital Structure, which was recently made publicly available on SSRN, we develop a method that can be used to determine optimal capital structure for any given firm. Being able to make specific, firm-by-firm debt policy recommendations is an important addition to the current state of affairs.
Many of the younger female students are pursuing degrees full-time, such as Jessica Dillon, 29, who worked for seven years after college, at Fannie Mae and Capital One Bank (COF). She will graduate from Georgetown University's McDonough School of Business next year.
Attending business school earlier will help women to bolster their place in the workforce, says Catherine Tinsley, a professor at Georgetown's business school. "It will increase the number of women who stay in the business world because they will be able to take off time for child bearing, and they are more likely to return because work is a stronger part of their identity."
"From an overall perspective, we are just so much better off," says Michael Czinkota, professor of international business at Georgetown University. "There is still American exceptionalism when it comes to economic well-being."
And now, fueled by both a $1 million donation from the Bank of America Foundation to Georgetown’s new Global Social Enterprise Initiative and the strong leadership of Professor Bill Novelli, students will be better prepared to take their business skills and infuse them with the latest thinking in best practices for social enterprises.
The McDonough School of Business announced Tuesday that it will partner with Bank of America to form the Global Social Entrepreneurship Initiative, a program designed to prepare students to conduct successful socially-conscious business.
The Global Business School Gap, U.S. News & World Report (April 15, 2011)
Examples of schools jumping on the international express abound. New efforts include the multi-national campus network of Duke University's Fuqua School of Business, the just-launched Global Managers Program offered by Georgetown University's McDonough School of Business and Spain's ESADE Business School, the Indiana University Kelley School of Business's newly endowed Institute for Global Organizational Effectiveness, and the TrendLab on Globalization created last year by the University of Pennsylvania's Wharton School.
In FCC's Report on Wireless Competition, An Agenda? Harvard Business Review (April 15, 2011)
The following blog post was co-authored by Adjunct Professor Hal Singer:
Every year since 1995, the Federal Communications Commission (FCC) has released a report on the state of competition in the wireless market. It's just about to release its fifteenth one. This might not seem like a stop-the-presses moment for everyone in the media, but it's a big deal for the companies involved—and their customers—because the contents of the report will influence regulatory policy.
From Kindergarten to the Boardroom: The Top Priorities, The Wall Street Journal (April 11, 2011)
NOREAN R. SHARPE: We would like to make introductory science, technology and engineering courses more engaging for all students. We should highlight rewards of these careers, as well as alternative career paths. Bring women scientists into schools as role models, and make the point that this should be started at a very young age, either primary education or middle school.
"If we manage our trade relationships intelligently, that will provide more opportunities than threats," Georgetown University Professor Pietra Rivoli said in a telephone interview in advance of her E.N. Thompson Forum address in Lincoln this week.
Juan Gomez’s American Dream is so close, he has held it in his hands: an envelope containing a job offer from J.P. Morgan Chase in New York. But the Georgetown University senior faces another possibility unthinkable for the typical Wall Street recruit: deportation to Colombia, a country he hasn’t seen since he was 2 years old.
Social Tables initially launched in November 2010 and is currently in its Beta version. The site materialized approximately 24 hours after Tendler and Berger first had the idea for a networking site to enhance the event experience. Berger—a graduate of Georgetown’s McDonough School of Business and currently a full time consultant in Washington, and Tendler, who is a graduate of the Kelly School of Business at Indiana, a techie entrepreneur (he designed and launched the most successful diabetes management iPhone app currently used) and a self-categorized “former Wall Street dude,”—created the site to fill the space between social networking sites such as Facebook and Twitter, and event-planning sites such as Eventbrite and The Knot.
Coleman’s experience has translated to the top-ranked class for three years running at the McDonough School of Business at Georgetown University.
David Gura: Thomas Cooke teaches tax law at Georgetown University. He says that if the government shuts down, so does the IRS.
Thomas Cooke: I will tell you that this couldn't happen at a worse possible time.
"When people think of audits, they think of being in an office and going to war with someone from the IRS," said Thomas Cooke, a professor of accounting and business law at Georgetown University. "Years ago you could almost guarantee you would have to go in and see someone to do it, but this isn't the case anymore."
While CME may want to buy the European futures business of NYSE Euronext, that deal would hinge on whether it could get approval from European antitrust authorities, according to James Angel, a professor at Georgetown University in Washington. CME may want to bid to increase costs for competitors, similar to the way Greifeld may be trying to force Deutsche Boerse to raise its offer, he said.
Awearness, Cole's philanthropic foundation, has pledged $500,000 to the nonprofit group Compass Partners, launching a partnership to support and mentor college-aged entrepreneurs aiming to develop the next generation of socially-conscious businesses.
Rethinking Best Fit, GU School, The Hoya (April 1, 2011)
The McDonough School of Business accepts about 30 percent of students who wish to transfer into the institution. Nicole M. Houle, associate director in the Undergraduate Program Office of the MSB, said that applicants are required to have a minimum 3.0 grade point average to apply. Students are further evaluated on a case-by-case basis.
March 2011
And just in case you're thinking the Fed can step in and hold rates down indefinitely, Georgetown finance professor Reena Aggarwal says that's not the case. "At some point, the Fed can't really control interest rates," she says. "The market is not stupid. The market sees [that] eventually interest rates have to go up."
Admission rates fell across all four undergraduate colleges, with the overall admission rate dropping from last year’s 19.3 percent. The McDonough School of Business admission rates experienced the steepest drop, from 22.3 percent to 19.2 percent.
“For years, simply because of your name, you’ve received inequitable treatment,” says Kurt Carlson, an assistant professor at Georgetown’s McDonough School of Business and a co-author of the paper, which is to be published in the Journal of Consumer Research.
"There's always been this public perception that the rich are getting away with murder and the poor guy is left footing the bill," said Thomas Cooke, professor of accounting and business law at Georgetown University. "It's true that historically the low income earner was more likely to be subject to an examination than a high income earner, but now the higher income taxpayer is getting the greater focus."
More students eyeing careers in business and nursing applied to Georgetown this year, with both the MSB and the NHS seeing sizable increases in the number of applicants to the class of 2015.
The acceptance rate for the College was 17 percent, the lowest among the four undergraduate schools, but application rates of the other schools were only slightly higher. Among applicants to the School of Foreign Service, 19.8 percent of applicants were admitted, compared to 19.4 percent for the School of Nursing and Health Studies and 19.2 percent for the McDonough School of Business.
The idea came from the founders' own experience. Then students in Georgetown's business school, Woods and Executive Director Neil Shah devised plans to launch social ventures with help from friends Michael Durante and William Huster. Armed with enthusiasm and little else, they turned to the college for guidance.
The Latin American Board is ultimately about magnifying and extending the Georgetown name in Latin America, according to co-founder and Managing Director Ricardo Ernst. “I think Georgetown has a great opportunity of owning the Latin American region,” said Ernst, who is also deputy dean of the McDonough School of Business. “One of the challenges that [Georgetown President John] DeGioia [often talks about] is how do we make Georgetown a global university … We would argue that through the initiatives and the work of the Board, plus the GCL, plus the networks and all the things we are doing—we are helping to define what a global university is all about.”
Georgetown University last Wednesday announced it had expanded a partnership between its McDonough School of Business and the ESADE Business School in Barcelona, to focus on researching the best managerial practices for global business.
"These are not quiet economic times. We see a lot of shakeups, we see a lot of displacements," said Michael Czinkota, a professor of marketing and international business at Georgetown University. "Does that contribute to uncertainty by customers? Absolutely, yes."
Not all students, however, have the option of making that tradeoff, especially if the internship hours run long. Professor Thomas Cooke, who teaches the one-credit Internship in Business course, believes that it is wrong not to pay a student for doing legitimate work.
With its announced $39 billion acquisition of T-Mobile USA, AT&T shows it is eager to compete big-time in the innovation game. And a good thing, too: if AT&T and other wireless heavy hitters, like Verizon, don’t innovate at breakneck speed, consumers and businesses will be the losers.
"I give them advice when they ask for it," said James Angel, associate professor of finance in the McDonough School of Business and a member of Zeeba's board of advisers.
HoyaInnovation Plans Big ideas, Impact, The Hoya (March 22, 2011)
The core team consults regularly with faculty from the McDonough School of Business and plans to bring a wider pool of professors and alums into the fold.
For scholars who rabid basketball fans such as Bill Baber, a Georgetown University professor of accounting, life can get pretty complicated around March Madness time.
‘Compensation is an aspect of governance that has attracted a great many shareholder proposals,’ observes Reena Aggarwal, professor of finance at the McDonough School of Business, Georgetown University, and a specialist in international investment and governance. ‘It is becoming more and more prevalent as an issue. Now it’s not just about pay for performance but also about clawback provisions and further details. Shareowners are starting to ask for more detail and demanding to have a voice on how executives are being compensated.’
Most people think of “near misses” as harrowing close calls that could have been a lot worse—when a firefighter escapes a burning building moments before it collapses, or when a tornado miraculously veers away from a town in its path. Events like these are rare narrow escapes that leave us shaken and looking for lessons.
"Our research...shows how people who have experienced a similar situation but escape damage because of chance will make decisions consistent with a perception that the situation is less risky than those without the past experience," write researchers Robin L. Dillon and Catherine H. Tinsley of Georgetown University and Matthew Cronin of George Mason University.
Business School Tips and Stats, U.S. News & World Report (March 15, 2011)
Schools such as the Robert Emmett McDonough School of Business at Georgetown University offer annual events like Global Diversity Day to celebrate the various backgrounds of students enrolled in the school. Use these events to network with fellow classmates and alumni.
Threats to Traveling Data, The New York Times (March 14, 2011)
Betsy Page Sigman, a professor of operations and information management at the McDonough School of Business at Georgetown University, said travelers attending conventions should also be aware of the risks. “You want to be overly cautious, especially if you are around a lot of competitors,” she said.
Spain’s ESADE Business School and Georgetown University’s McDonough School of Business have extended an existing alliance to provide for faculty research, student exchange and new academic programs at both schools, the schools announced last week.
“It makes sense for the government to hire the best and the brightest,” said James Angel, a finance professor at Georgetown University’s business school in Washington.
MBA students from around the country broke away from their studies before finals recently to play in a five-on-five basketball tournament at Georgetown University.
The McDonough School of Business' undergraduate program shot up 13 spots to 10th in the nation in Bloomberg Businessweek's 2011 rankings.
"It's their secret sauce," said Arthur Dong, a professor at Georgetown University's McDonough School of Business, who teaches a case study on Enterprise in a course for MBA students. "Enterprise is the sort of place that employers recognize as a minor league sales training camp."
James Angel, a finance professor at Georgetown University in Washington, says brokerages have to balance people and computers.
Desai has been a professor of international development at Georgetown for several years, but he is currently on sabbatical. He was previously an adjunct professor in the McDonough School of Business and a private sector development specialist for the World Bank.
February 2011
It was their junior year at Georgetown University and buddies Bradford "Chip" Malt and Sanjay Murti were stressed. They were preparing to enter the competitive job market and were having trouble balancing studying for job and internship interviews with their schoolwork. In trying to find a proverbial "easy button", they were having no luck. So they created one.
But some, including management expert Brooks Holtom of Georgetown University, take issue with assertions that public employees are less well compensated. . .
Guests: James J Angel, Associate Professor of finance at the McDonough School of Business, Georgetown University.
An interview with MBA student Katie Heffner, who also is a Net Impact Member and Pepsi Refresh Project Mentor.
On Thursday evening, Savio Chan introduced the McDonough School of Business's students to a new dialect of Chinese — business communications.
Jennifer Folsom obtained a finance degree and an MBA from Georgetown University and currently works at a startup called Momentum Resources,
Georgetown University’s McDonough School of Business and the sustainable technology company Abengoa have partnered to create a custom executive education program in project management for the company’s employees.
Rinaldi, whose family lives in Shamong, arrived with other Georgetown University students in Cairo on Jan. 19 before the massive protests began. He is a junior in the business school majoring in operation management.
Born in Venezuela to a Polish mother and Austrian father, Ricardo Ernst says he is living proof of the power of environment.
"I'm sure Google is very nervous about having their employees publicly associated with politics," said Charles Skuba, an international business professor at Georgetown University's McDonough School of Business.
Autism Society Begins 2011 with Three New Members to National Board of Directors, Autism Society.org (February 10, 2011)
“We are pleased to welcome three new outstanding volunteers to our board,” said Jim Ball, chairman of the Board of Directors...George G. Daly has been the dean of the McDonough School of Business at Georgetown University since November 1, 2005.
An article by Michael Czinkota:
How does the newly visible instability in the Middle East affect international managers and their firms? What strategic adjustments are needed for managers to cope with possibly hostile business environments abroad?
Alumni Networks Grow, Imparting Valuable Lessons, The Hoya (February 4, 2011)
When Aaron Fouladian (MSB '11) attended a business school event at the Princeton Club of New York early last summer, he was met by a soon-to-be mentor — a recent Georgetown alum.
Movie Giants Hire Graduate Student, The Hoya (February 4, 2011)
Paul Brigner (LAW '05, MBA '11) hasn't been to class in a while, but it is not because he has been watching movies. Instead, he has been managing the film industry.
House Parties with a Commercial Twist, Businessweek (February 3, 2011)
While companies such as Kraft, P&G, and Kimberly-Clark (KMB) continue to pour money into TV and Web advertising, they're mindful that consumers are programmed to "resist the sales push," says Ronald C. Goodstein, a marketing professor at Georgetown University. "The advantage of word-of-mouth is if I'm giving you a personal recommendation because we're friends, you don't counterargue that." The downside, he says, is that partygoers may find brand-sponsored fetes a turn-off and wonder if their friends have sold out for the sake of some coupons and freebies.
New Venture Mentors Start Up Competition, newventurementors.org, (February 3, 2011)
All participants registered by February 28, 2011 are eligible for free one-on-one coaching from an experienced entrepreneur or professional advisor. These sessions will take place during the month of March at the Georgetown University McDonough School of Business (dates to be announced).
Esade firma una alianza estrategica con Georgetown, La Vanguardia (February 2, 2011)
An article about the alliance between Georgetown's McDonough School of Buiness and the ESADE Business School in Spain.
Exports : It's business, not government, Sri Lanka Guardian (Feb. 3, 2011)
An article by Michael Czinkota: Exports were mentioned in President Obama’s State of the Union address. Such U.S. presidential attention tends to be very special. However, there was virtually no focus on what needs to be done and how goals can be achieved. Though exports have no party affiliation –the policies leading to them do.
The McDonough School of Business's full-time MBA program was ranked 17th in the country and 38th in the world Monday by the Financial Times 2011 survey.
January 2011
Because The Best Colleges is a website that focuses on learning, our list of the 25 best business and entrepreneur oriented blogs puts special emphasis on education: blogs that genuinely help the reader understand business concepts and how to be a better entrepreneur:
The Blog of Prof. Czinkota – Informed thoughts on international business, marketing and strategy from a professor at the Georgetown McDonough School of Business.
"For years, simply because of your name, you've received inequitable treatment," says Kurt Carlson, an assistant professor at Georgetown's McDonough School of Business and a co-author of the paper, which is to be published in the Journal of Consumer Research.
The first letter of your last name may determine your response time to limited buying opportunities as adults, according to findings by Georgetown professor Kurt Carlson. Along with Jacqueline Conrad of Belmont University, Carlson was able to produce evidence for the “last name effect,” as published in the Journal of Consumer Research.
Among the issues that the Center will be addressing are the mandate for states to establish health care exchanges and the issue of Medicare reform. Early on, the Center will also be working with Bill Novelli, the former CEO of AARP and a Professor at the Georgetown University McDonough School of Business, to promote a national coalition developing a new model of care for the nation’s frail elderly population.
There is a growing realization in the United States that it must step up or get left behind, according to Ricardo Ernst, an expert on global logistics and professor at Georgetown University's business school.
"Back-running" could be a concern for other banks, according to Georgetown University finance professor James Angel, who said the SEC's findings in the Merrill case serve as a "huge warning" to other banks to avoid situations in which customer information can be mishandled.
So be warned. "Whenever you have these IPO boomlets and the market gets hot, that's usually a risky time to buy," cautions James Angel, a professor of finance at Georgetown University's McDonough School of Business.
Your reaction depends on the first letter of your last name, according to a recent study co-authored by Kurt Carlson, assistant professor of marketing at Georgetown University's McDonough School of Business.
"As people in emerging markets get wealthier, they want to consume just like we do. They want to buy cars," said James Angel, a professor of finance at the McDonough School of Business at Georgetown University in Washington, D.C.
“Anybody who sold at that time definitely should be getting some good lawyers,” said Angel, who teaches at Georgetown University in Washington and serves on the board of Direct Edge Holdings LLC, which owns two U.S. stock exchanges. “It looks like somebody was executing a large trade fast and basically just dumped it on the market.”
Most business students with entrepreneurial ambition wait until after they have graduated to start their companies, but that didn’t stop James Li (MSB ’13) and his partner Yeo Zuo from starting their own business as college sophomores.
Best Banks and Businesses Work at Good Habits, Financial Times (January 18, 2011)
You might think you’re apt to get in line early to get a new book because you just really, really like that book; or that you race to buy an iPad ahead of others because you happen to love the gizmo. Not so, say researchers Kurt Carlson, an assistant professor at Georgetown University’s McDonough School of Business, and Jacqueline Conard, an assistant professor of marketing at Belmont University.
Stress and lost productivity related to incivility result in a multibillion-dollar annual hit to the U.S. economy, according to Christine Porath, an assistant professor of management at Georgetown University’s McDonough School of Business and co-author of the 2009 book The Cost of Bad Behavior: How Incivility Is Damaging Your Business and What to Do About It.
But science professors were not the only ones working hard over the holidays. Several professors in the finance department, including Reena Aggarwal, spent the first week in January on the lookout for potential new hires at the American Finance Association’s annual meeting in Denver.
Pietra Rivoli, a professor at Georgetown's business school, explains the problem with a market like this: "The key danger is that nobody's really thinking."
Professor MICHAEL CZINKOTA (Georgetown University): It's easier to finance the sale of an airplane, let's say a Boeing jet, as a one transaction than financing 50 transactions with smaller sized firms.
An article by professors Michael Czinkota and Charles Skuba:
This year may be a dynamic year for U.S. international trade and competitiveness. President Barack Obama has recently highlighted the importance of exports, innovation, competitiveness and the need to achieve the possible rather than the ideal in creating jobs and boosting economic growth. The president now has the opportunity to work with the new Congress to achieve dramatic policy results for international trade and manufacturing.
As someone who works in the area of communications, I’m acutely aware of marketing and branding when I see it. However, outside of our profession, do people really take a step back to process the 3,000 or so marketing messages they see each and every day?
Listeners often write in asking for book tips. I polled the PM staff and a few econ and finance bloggers. Here are some suggestions, including a mix of classics and new releases.
Professor Alan Andreasen (Professor of Marketing, Georgetown University, Washington, DC) on Potential and Boundaries of Social Marketing in the 21st Century – Remarks will address the complexities and challenges of nonprofits using and implementing social marketing as compared to traditional commercial marketing.
Just showing up to your cubicle is not enough. Actively participating in social outings, outside company functions and parties is just as important, says Catherine Tinsley, associate professor at Georgetown's McDonough School of Business.
"Companies are doing everything they can do to avoid going public. Facebook is a prime example," said James Angel of the McDonough School of Business at Georgetown University.
IIM-Ahmedabad will be holding the 4th IIMA Conference on Marketing in Emerging Economies from January 5-7, 2011, as part of its ongoing golden jubilee celebrations. The objective of the conference is to bring together eminent academicians and practitioners worldwide to discuss and share their ideas and research with some of the best in the world. The conference is being supported by Prof. Labdhi R. Bhandhari Memorial Fund, IIMA. ... Prof. Johny K. Johansson, Professor of International Business at the McDonough School of Business, Georgetown University will deliver the keynote address.
Goldman Sachs, by cozying up to Facebook now, could be gaining an inside track to handle the eventual IPO, says Reena Aggarwal, a Georgetown University finance professor specializing in investment banking and IPOs.
“The real question is, what are the details of this special purpose vehicle?” said James Angel, a finance professor at Georgetown University’s business school in Washington. If the investment is designed to circumvent the rule, “the SEC should be looking very closely at it.”
December 2010
Five Steps to Better Health, Natural Awakenings Magazine (December 28, 2010)
Proponents of integrative health argue that the promotion of preventive steps such as eating healthy food and making positive lifestyle changes, as well as using complementary methods to treat the whole person and not just the disease, will result in “… the biggest return on investment this nation could ever have,” in the words of William Novelli, a professor at Georgetown University’s McDonough School of Business and the former CEO of AARP.
Boomers, Benefits, and Bias, Human Resource Executive Blog (December 28, 2010)
As HREOnlineTM columnist and Wharton professor Peter Cappelli writes in a recent column, hiring managers and HR leaders would be more willing to hire older workers if only they thought of them as ”experienced” instead of “old.” Cappelli’s latest book, with Bill Novelli, former CEO of AARP, is Managing the Older Worker.
"Not every person you hire is a good hire," said James J. Angel, associate professor of finance at Georgetown University's McDonough School of Business. "The recession can be used an opportunity to make changes that might be harder to do in a tight labor market."
The most challenging type of leadership is change management. Given the fast-paced, global environment we operate in today, change is inevitable and should be embraced as an opportunity.
As an adjunct professor at Georgetown University’s School of Business, native Tucsonan Larry Robertson is an acclaimed expert on entrepreneurs. When he takes his lectures on the road, he’s part professor, motivational speaker, consultant, and author all rolled into one.
Still, the lack of transparency is a big reason critics are casting a wary eye. "The reason it smells bad is that you hire a broker as your agent to get you the best execution and best possible pricing, and he's on the take," said James Angel, associate professor of finance at Georgetown University's McDonough School of Business.
But the agreement won't cause a sweeping change in the U.S. economy overall, says Brad Jenson, an Associate Professor of Economics at Georgetown University's McDonough School of Business. That's partially because of the major discrepancy in the economies. The USITC report says that Korean GDP is less than 10 percent of the US GDP.
This new P&Q list is a composite of the five major MBA rankings published by Bloomberg BusinessWeek, The Economist, The Financial Times, Forbes, and U.S. News & World Report. Georgetown's McDonough School of Business ranked No. 23.
“It is an inflection point when the interest costs on the government’s debt starts to rise because the amount of debt is so high,” said Phillip Swagel, assistant secretary for economic policy at the Treasury in 2007 and 2008 who’s now a professor at Georgetown University in Washington. “Rates are still reasonably low. But at some point increasing interest costs is going to be what forces more action on this issue.”
About the Author: CHAD STORLIE has had a distinguished career in both military and civilian service. Chad is a US Army Reserve Special Forces officer with 20 years of service in infantry, special forces, and joint headquarters units. Chad holds a BA from Northwestern University and an MBA from Georgetown University.
"There is a reason to be concerned," noted Brooks Holtom, associate professor at Georgetown University's McDonough School of Business. "One of the challenges that people who graduate in a recession face is lower aggregate lifetime income. They are likely to earn less money over the course of their careers."
"This is a milestone for the government and for Citigroup," said James Angel, a finance professor at Georgetown University. "It signals the company has been fully privatized and that their parole is over."
Phillip Swagel, a visiting professor at Georgetown University who was the Treasury Department’s assistant secretary for economic policy during the financial crisis, agreed that too much transparency could actually drive businesses away from the Fed in times of need.
“It's not normal policy to say this asset class is now guaranteed,” said Swagel, a professor at Georgetown University's McDonough School of Business in Washington, in an interview. “When there's a run on money market mutual funds, there's no time to do anything else but say they're all guaranteed, we're done.”
Professor Jim Angel, who teaches Finance at Georgetown University’s McDonough School of Business, agrees that there’s a shortage of talent in America. “[One of] the fundamental weaknesses of the [U.S.] economy is underinvestment in the up-and-coming generation’s education,” explains Professor Angel. “This could be a sign that the economy is slowing down,” he says, “and there is no immediate fix for these structural problems,” enumerating others such as the greying of the population, a massive trade deficit, and climate change.
Speaking at Georgetown University, U.S. Secretary of Commerce Gary Locke said the nations of the world must “work to ensure that the Internet remains an open marketplace for ideas and beliefs” as well as “an open marketplace for business.”
“It’s not normal policy to say this asset class is now guaranteed,” said Swagel, a professor at Georgetown University’s McDonough School of Business in Washington, in an interview. “When there’s a run on money market mutual funds, there’s no time to do anything else but say they’re all guaranteed, we’re done.”
Amid tenuous U.S.-China ties, U.S. Secretary of Commerce Gary Locke opened a policy conference on the two countries’ commercial relationship on Thursday morning in the Lohrfink Auditorium with a keynote address stressing the need for cooperation.
November 2010
Knight Capital Group, Inc. today announced the release of "Current Perspectives on Modern Equity Markets: A Collection of Essays by Financial Industry Experts," a book that examines how competition, technology and recent innovations in U.S. equity markets have affected both institutional and retail investors. Fourteen industry leaders and authorities contributed chapters to the book, which was sponsored by Knight. The following contributed essays to the book: James J. Angel, Associate Professor of Finance at the McDonough School of Business, Georgetown University...
Global business executives and international education. So, the Spanish business school ESADE and Georgetown University (USA) began in 2008 distributing its MBA classes in eight cities in six countries. One of the targets of the program is Buenos Aires, where ESADE has an office, and here returning for a third time, were 29 executives from 12 countries seeking to understand the logic of local businesses.
Government Database for Consumer Complaints Approved, Los Angeles Times (November 24, 2010)
But from a consumer perspective, "I can only see benefits," said Prashant Malaviya, a marketing professor at Georgetown University's McDonough School of Business. "Any little effort to increase the awareness of consumers about defective products is going to help."
Exports and Innovation, Sri Lanka Guardian (November 24, 2010)
An article by Michael Czinkota:
Success through strength and collaboration based on a systems perspective will raise efficiencies, lessen friction and increase the global standard of living. We have to understand variations in trade needs by country, industry, and culture. We need to accept and accommodate differences in expectations. The goal must be to make firms and managers stronger, on the corporate level through innovation, and on the individual level through rising commitment and capabilities.
When Do Succession Disclosures Go Too Far? Agenda (November 22, 2010)
Founders such as Michael Dell, Gates and Schultz have a lot of wealth tied up in their companies, explains Georgetown University professor Jason Schloetzer. “Knowing that they can remain on the board when they relinquish the CEO role and return to the CEO position in times of firm difficulty is probably important to them,” he says.
"The fact that businesses are not backing away [from giving] is a good sign," said Alan Andreasen, professor of marketing at Georgetown University who also studies corporate philanthropy. "Corporations are getting smarter about being involved rather than just tithing to nonprofits."
Fed Faces Stiffest Challenge to Authority in Decades, Asia One Business (November 21, 2010)
"The Fed's latest action crosses the line from monetary policy into fiscal policy that is the role of Congress and the president rather than the Fed," said former Fed economist Phillip Swagel.
"This is just about the sweetest deal that they could have hoped for," said Sandeep Dahiya, associate finance professor at Georgetown University's McDonough School of Business. "They got a good price, they sold a lot of their shares, and they're not facing criticism that they sold out cheaply."
Okay we admit it, we stole our idea to make a t-shirt and report every part of the process from Pietra Rivoli, who wrote the book, The Travels of a T-shirt in a Global Economy.
GM Shares Return to NYSE, But Will Buyers? ABCNews.com (November 18, 2010)
Any time IPOs increase in size and price it is a good sign, said Reena Aggarwal, a professor of finance at Georgetown McDonough School of Business. "GM's ability to successfully come out with an IPO during choppy times demonstrates that investors are extremely interested in the deal," says Aggarwal.
It’s a leadership style that works well, says Robert Bies, a management professor at Georgetown University’s McDonough School of Business. Boehner is smart not to use too much emotion when managing his aides and colleagues, according to Bies.
Renovating the economy requires a renewed commitment to entrepreneurship, The Home Depot co-founder Ken Langone said Monday in Lohrfink Auditorium.
Investors must decide if this new GM will avoid the bad decisions that got it into trouble, such as making unattractive vehicles and costly labor concessions, says James Angel, an associate finance professor at Georgetown University.
The week of events kicks off at 4 p.m. Monday at Georgetown University’s McDonough School of Business, with a keynote lecture from Home Depot co-founder and former NYSE director Kenneth Langone.
MICHAEL CZINKOTA: Right now, our key export is airplanes -- and that's sort of mainly the Boeing account if you want to call it that. But Czinkota says we're probably not going to see a lot of growth in demand for big-ticket items like planes.
...Former undersecretary of Commerce Robert Shapiro says for higher end goods and services...
ROBERT SHAPIRO: We would also look to fast-growing advanced economies.
“It’s like seeing cracks in a dam,” said James J. Angel, professor at the McDonough School of Business at Georgetown University. “One day, I don’t know when, there will be another earthquake.”
Economic times are tough. And, the winter months are coming. It's a good time for global citizens, anti-poverty leaders and social entrepreneurs to stock up on reading material. Travels of a T-Shirt in the Global Economy by Pietra Rivoli (John Wiley & Sons, 2005). A readable expose about wasted taxpayer dollars and unfair market competition that simultaneously screws American consumers here and poor subsistence farmers overseas. The author documents the truth of H.L. Mencken's acerbic wit: "Every decent person is ashamed of the government he lives under."
“They are under attack as an industry and they are fighting back,” said James Angel, a professor at Georgetown University’s business school who is on the board of Direct Edge Holdings LLC, which operates stock exchanges. “There is an old saying in Washington that if you are not at the table, you are on the table.”
Held from November 15-19, DC’s first annual Entrepreneur Week wants to connect business leaders with entrepreneurs and local students in order to build relationships and fortify DC’s entrepreneur culture. The week’s kickoff event on November 15th, a forum on Unleashing Ideas, will be held at Georgetown University’s McDonough School of Business and is open to the public.
GOP to Use Debt Cap to Push Spending Cuts, Wall Street Journal (November 6, 2010)
"It would mean essentially our government would become a business that can't pay its bills, and eventually people would stop doing business with it," said Phillip Swagel, a visiting professor at Georgetown University who was a top Treasury official during the George W. Bush administration.
All MBA students — full time, part time and executive — complete a core course on the Georgetown campus, a weeklong residency in one foreign city, and a consulting project with organizations in that country, explained Stanley Nollen, professor of international business. “In this way, international business education is experiential as well as academic,” he said. Paul Almeida, senior associate dean for executive education and co-academic director of the Georgetown Global Executive MBA Program, said his students focus specifically on four emerging markets: Argentina, Brazil, India and Russia.
The local boutique is owned and operated by Lacey Campbell, who majored in business management at Georgetown University and did extensive research on the concept before purchasing the Washington DC metro franchise territory. She comes from a family having a long history of successful retail ventures.
As assistant treasury secretary for financial markets, Miller, 55, manages the Treasury bond sales that finance the country's $1 trillion-plus deficit. "That's got to be one of the most difficult jobs in government," says Phillip Swagel, visiting professor at Georgetown University's McDonough School of Business and a former assistant Treasury secretary for economic policy.
“Something went wrong, the question is why,” said James Angel, a finance professor at Georgetown University in Washington. “For them to cancel the trades is probably causing heartburn in back offices across the country.”
The concept of embeddedness comes from Brooks Holtom, a Georgetown University associate professor of management who has spent 10 years developing the theory. His research shows that job embeddedness factors better explain retention than job satisfaction and typical organizational commitment instruments.
Sun Life Financial Unretirement Index Shows Americans Increasingly Concerned about Re-Building Retirement Accounts, Business Wire (October 19, 2010)
"The trend toward working longer into so-called 'retirement years' has been increasing, but as the Sun Life index shows, it is accelerating because of tough economic times. And with the under- and unemployment rates high, there is intense competition for jobs among all age groups," said Bill Novelli, professor at the McDonough School of Business at Georgetown University and former CEO of AARP.
Why is it that we have such a hard time continuing to find work as we grow older, especially as employers complain about not being able to find workers with the right attitudes, who have the skills to “hit the group running,” and who can make immediate contributions?
Toward the end of his time in the military -- after serving in Iraq, Africa, and Europe and earning his Green Beret -- Jason McCarthy began to think about how much he was going to miss his high-quality, nearly indestructible backpack. So in 2008 he founded GORUCK, a company that manufactures military-grade backpacks in the U.S. for sale in the mainstream market. The first step was to bring on his friend Jack Barley, an actor in New York City, to head the creative design. The two of them put together a framework for the business. In late 2009, McCarthy took that framework to Georgetown, where he enrolled in the MBA program.
Going for the new and unknown is my job. I am a university professor and do my professing through research, teaching, and writing. Most of my activities tend to be new.
This is the eighth in a series of postings, each of which will feature a different top MBA program. In our eighth installment, a member of the admissions team at Georgetown's McDonough School of Business has been kind enough to answer our questions. After reading the interview, look for more information about this program here: http://msb.georgetown.edu/
James Angel is a finance professor at Georgetown's business school.
Angel: It says that the market thinks this company's really valuable and the market thinks this company is going to generate lots of sales and cash flows for many years to come.
But the reaction was unfair, said Phillip Swagel, who served as chief economist at the Treasury Department from 2006 until early 2009. "In retrospect, that speech is actually very good. It gave a road map of where everything was going, but people were expecting more," Swagel said, blaming Obama for raising expectations. "It turns out everything he said, he did."
US real estate equity investments aren’t exactly Sam Zell’s sweet spot, we learned from the visionary investor yesterday. Sam was in DC for a real estate bigwigs’ forum co-sponsored by NAREIT and McDonough School of Business at Georgetown University, and Bisnow was on the scene.
Some of the biggest names in commercial real estate came to Georgetown University's McDonough School of Business this week to give their assessment of where their industry stands after the worst bust since the Great Depression.
Swagel offered a plan for reform that ensures the availability of mortgage financing while allowing for government guarantees to prevent financial catastrophes.
"We have to innovate and determine, quite simply, what are those things we think we can do better than anybody else," said George Daly, dean at Georgetown's McDonough School of Business.
BroadbandBreakfast.com on Wednesday released the video, for free, of the first Broadband Breakfast Club event of the monthly event forum’s third year, on the issue of net neutrality and broadband regulation.The panelists at the event, “Title I, Title II: How Should Broadband Be Classified?” included: John W. Mayo, Professor of Economics, Business and Public Policy, Georgetown University, McDonough School of Business.
(See also video on the page of Georgetown's Andy Conti asking the President his question.)
QUESTION: My name is Andy Conti (ph). I am a full-time MBA student at Georgetown University right here in the district. And my question is with regards to those individuals that feel like federal government is getting too large, specifically the Tea Party movement, my dad and I were talking about the midterm election just last night, and he was asking who he should vote for. And the question was, what will the administration do if these activists are elected?
Fraternal Benefit Societies Provide Large Direct and Indirect Benefits to Society, Business Wire (September 20, 2010)
A new study released today finds that fraternal benefit societies, not-for-profit mutual aid associations created more than a century ago, continue to provide very large benefits to the communities in which they are located. The study, by Georgetown University economist Phillip Swagel, former Assistant Treasury Secretary for Economic Policy, found that the two largest societies alone — the Knights of Columbus and Thrivent Financial for Lutherans — provide more than $3.4 billion in direct and indirect benefits to communities around the country.
The following post comes to us from John Evans, Professor of Accounting at the University of Pittsburgh; Nandu Nagarajan, Professor of Business Administration at the University of Pittsburgh; and Jason Schloetzer of the Accounting Department at Georgetown University.
In Buffett Beyond Value, the author Prem Jain seeks to bring out a yet undocumented aspect of Buffett’s investment strategy. Contrary to popular belief, Buffett is not a pure value investor. Rather, he is a unique thinker who combines the principles of value and growth investing strategies.
For the third year, MBA students at Georgetown University’s McDonough School of Business were invited to evaluate the corporate social responsibility and sustainability practices of Coca-Cola Enterprises. Fifteen MBA students reviewed the firm’s 2009 Corporate Social Responsibility and Sustainability Report. Overall, the students found that CCE has produced “continuous improvements in the breadth, clarity, and substance of the disclosures” in the areas of energy conservation and climate change, water stewardship, sustainable packaging and recycling, product portfolio/balanced and active lifestyle, and diverse and inclusive culture.
One reason for China’s advance in the region is that “Latin countries feel China treats them as an equal partner rather than someone who bosses them around,” said Pietra Rivoli, professor of international business at Georgetown University in Washington. “Chinese investors and companies can be more patient. The U.S. has tended be more focused on getting a return on its capital.”
Would a Midterm Loss for Democrats Boost Stocks? Fortune/CNNMoney (September 14, 2010)
A regulatory stalemate could not only fail to assist the market but would actually make it worse because it would leave economic problems unsolved. "If politicians are unable to work together, some very important policy decision in taxes and energy may not get made, which would cause damage to the economy," says James Angel, a professor at Georgetown's McDonough School of Business. "Gridlock...will cause us to lose precious time."
Stocks Fall As Worries About European Debt Return, Associated Press (September 8, 2010)
Economic reports have been inconsistent, leaving traders overreacting to every bit of news, said James Angel, professor of finance at Georgetown University's McDonough School of Business.
It's been two decades since Weis Sherdel and his family fled Afghanistan. He's now 35 years old. He's got an MBA from Georgetown University, a strong connection to his homeland — and a big decision to make.
August 2010
Jim Angel called the flash crash. In an April 30 letter, the Georgetown University professor and market structure expert told the Securities and Exchange Commission that "with so much activity driven by automated computer systems, there is a risk that something will go extremely wrong at high speed." Six days later he was proven correct.
Emilio del Castillo, Georgetown-ESADE GLobal Executive MBA, QS Top Executive (August 31, 2010)
Early last year, del Castillo enrolled in the Global Executive MBA (GEMBA) in Barcelona, a joint Executive MBA program between ESADE Business School in Spain and Georgetown University in Washington DC, US. “Nineteen years after leaving university I thought it was the right time to ‘recycle myself’ and to get new insights to play successfully in the environment of international business, which is quite different to the one two decades ago,” del Castillo says.
“…a readable and evenhanded treatment of the complexities of world trade… As Rivoli repeatedly makes clear, there is absolutely nothing free about free trade except the slogan.” - San Francisco Chronicle
The university improved in many of the magazine’s specialty rankings, as well. The undergraduate program at the McDonough School of Business moved from 21st to 19th this year.
Does the oil spill in the Gulf of Mexico present investors with a Buffett-like buying opportunity? Is BP a share that Warren Buffett might consider now? The Motley Fool's Mac Greer recently asked Georgetown University McDonough School of Business professor Prem Jain, author of Buffet Beyond Value.
Ashley Baker and Nancy Beer Tobin joined Georgetown University’s McDonough School of Business as directors of program development in the Office of Executive Education. Baker and Beer Tobin will develop and implement programs with organizations to bring business education to their employees and clients.
Chairman Warren Buffett has racked up market-beating returns by buying stocks on the cheap, right? Not so fast says Georgetown University business professor Prem Jain, author of Buffett Beyond Value: Why Buffett Looks to Growth and Management When Investing.
Business, Government and the Global Economy
McDonough School of Business, Georgetown University
This course examines how politics interacts with market forces. Introductory topics include regional trade agreements and obligations under the World Trade Organization. Later students independently research various topics to debate, interviewing company representatives and diplomats. Previous debates have covered the U.S.-Vietnamese catfish trade dispute, and how less stringent copyright and patent rules on pharmaceuticals would enable more Africans with HIV and AIDS to access health care.
"It seems the potential for vote trading gets really high," said Phil Swagel, a visiting professor at the McDonough School of Business at Georgetown University and a former Treasury official. "That seems irresponsible but possible."
That's when "the Chinese government allowed the direct sellers to really go to town," says Charles Skuba, an international marketing expert at Georgetown University's School of Business. "The China market lends itself very well to this model."
As the crew of the Space Shuttle Atlantis' final mission showed at a Monday night presentation before a packed Georgetown University auditorium, they're a lot of fun.
Obama "created a sense of far greater control than the government actually has at this point," said George G. Daly, dean of the McDonough School of Business at Georgetown University.
Customers Less Tolerant of Employee Rudeness Than Incompetence, Newswise (July 22, 2010)
Across four studies appearing the August 2010 issue of the Journal of Consumer Research, MacInnis and co-authors Christine Porath, former Assistant Professor of Management and Organization at USC Marshall and Assistant Professor of Management at Georgetown University, and Valerie Folkes, USC Associates Chair in Business Administration and Professor of Marketing at USC Marshall, examined how consumers witnessing acts of employee incivility may extend their experiences to more general feelings about the company.
Fannie Mae and Freddie Mac: Unfinished Business, The Economist (July 22, 2010)
Donald Marron and Phillip Swagel, two economists who served in the administration of George Bush, say the federal government should sell an explicit guarantee at a rate designed to recoup future losses to Fannie, Freddie or a purely private competitor.
Republicans Stand Clear of Financial Reform Law, PBS NewsHour (July 21, 2010)
Phillip Swagel served as the Treasury Department's chief economist under President George W. Bush from 2006 to 2009 -- he is currently a professor of finance at Georgetown University.
Bill Novelli on CSR, Tech and the District Blog (July 20, 2010)
Currently, Bill is a professor in social responsibility at Georgetown’s McDonough School of Business.
China's Cheap Labor Era is Ending -- And These Products are About to Get More Expensive, Huffington Post (July 19, 2010)
"A lot depends on the labor content of what you're importing," says James Angel, a professor of economics at Georgetown University. "When you buy that iPhone, how much of the cost is actually reflected in the final assembly?"
The Economy is Slowing Down - Alas, Much as we Expected, New Europe (July 18, 2010)
An article by Senior Fellow Robert Shapiro:
Recent polls have left most Democrats discouraged, even if the loss of public confidence reflects economic weaknesses largely beyond their control. Americans these days seem to both blame President Obama for economic developments that were not his doing and discount his real accomplishments in other areas. It’s hardly a surprise that life in politics is unfair. The real misstep here has been the President’s persistent optimism about the economy, since the basic shape and force of the current economic undertow were entirely predictable — and actually predicted by a number of us.
15th Anniversary of Amazon, Fast Company Calendar (July 16, 2010)
Christopher Voss, a veteran FBI hostage negotiator and adjunct professor at Georgetown University's McDonough School of Business, points to Macmillan's January open letter to Amazon, which helped the bookseller agree to higher prices by explaining why $9.99 can't fairly compensate e-book creators.
Opinion: Will Financial Reform Work? It Depends- AOL News (July 16, 2010)
Author- Phillip Swagel is visiting professor at Georgetown University's McDonough School of Business. He served as assistant secretary for economic policy at the Treasury Department from 2006-2009.
Prop Trading Won't Go Away, Forbes (July 15, 2010)
In my interview with Phillip Swagel, currently a professor at Georgetown McDonough School of Business, and former Assistant Secretary for Economic Policy at the U.S. Treasury, he told me there are pros and cons to the bill.
SEC Finds Its Teeth- CNN Money Blog (July 15, 2010)
"I see this as a win for the SEC," said Georgetown University finance professor James Angel. "A challenging case ends up being a quick scalp for Mary Schapiro [right] to parade before Congress and the other naysayers."
Wall Street Reform 'a Mixed Bag'- AFP (July 15, 2010)
"It's a mixed bag" said Phillip Swagel, a former Treasury Department economist, now a professor at Georgetown University.
U.S. Stimulus Shifts to Infrastructure Spending- Financial Times (July 11, 2010)
Phillip Swagel, chief economist at the Treasury department during the Bush administration and now a visiting professor at Georgetown University, says it is evident that “it is really hard to spend government money quickly”.
U.S. jobless caught in partisan dogfight- The Globe and Mail (July 7, 2010)
“There’s a lot of uncertainty about future policy and people are worried,” said Phillip Swagel, a professor at Georgetown University and a former chief economist in president George W. Bush’s Treasury department.
Unemployment Benefit Cutoff Might Make Deficit Worse, News Around the World Today (July 7,2010)
Phillip Swagel, a Georgetown University professor and former Bush Treasury official said, “I would worry about a generation basically going onto disability.” He added that instead of continuing pouring money into jobless benefits the money should be invested in retraining.
A Fault in Reg Reform: Deciding Who's Accountable When Things Go Wrong, American Banker (July 6, 2010)
"The microlevel question about which particular [regulatory] functions messed up and how come they didn't interact well — I can't think of hearing anyone having that conversation. I would hope that within the agencies they are," said Phillip Swagel, who was the Treasury Department's assistant secretary for economic policy from 2006 to 2009 and is now a visiting professor at Georgetown University's McDonough School of Business.
Supply Chain for iPhone Highlights Costs in China, NY Times (July 5, 2010)
“China doesn’t want to be the workshop of the world anymore,” says Pietra Rivoli, a professor of international business at Georgetown University and author of “The Travels of a T-Shirt in the Global Economy.”
U.S. Adds 83,000 Private Sector Jobs in June, Marketplace on NPR (July 2, 2010)
Data out this morning from the Labor Department is sending mixed signals on unemployment. Professor James Angel of Georgetown University explains which numbers we should focus on.
SEC Circuit Breaker May Not Have Stopped May 6 Crash, Advanced Training (July 1, 2010)
“So if we have a crash that forms roughly the same way that the May 6 crash formed, it is possible that these circuit breakers that are described would not have had enough of an effect.” Adds James Angel, a professor with Georgetown University’s McDonough School of Business.
June 2010
U.S. Home Refis Up but Buying Demand Near 13-Year Low, Reuters (June 30, 2010)
"We're not out of the woods yet," said James Angel, associate finance professor at Georgetown University's McDonough School of Business in Washington. "Rescue scheme after rescue scheme after rescue scheme has been tried, but we still have millions of homeowners facing foreclosure."
The Emerging Profession of Change Management, Federal News Radio (June 29, 2010)
This week, host Larry Allen talks with Maria Darby, Senior Vice President at Booz Allen Hamilton and Brooks Holtom, Associate Dean at Georgetown University's McDonough School of Business.
How to Best Increase Taxes & Cut Spending, CNBC (June 28, 2010)
Phillip Swagel, a professor at Georgetown University's McDonough School of Business, shares with CNBC his four specific ideas on how to increase taxes and cut spending.
The Vanishing 9-to-5 Job, Newsweek (June 25, 2010)
Jennifer Folsom is a member of the MBA Class of 2002:
On a typical weekday, Jennifer Folsom works from 5 a.m. to 7 a.m., from 10 a.m. to 3:30 p.m. and from 7 p.m. to about 8 p.m. Her hours may sound like they belong to a college student cobbling together a hodgepodge of part-time jobs, but Folsom is the director of a successful D.C. headhunting firm where she oversees a handful of employees with equally irregular schedules. “We get the job done and I work 50 or 60 hours a week,” says Folsom, who adapts her work schedule to give herself time with her three sons. “I just don’t necessarily do it from 9 to 5.”
Potential Investors Would Best Be Advised to Read the Fine Print, The Record (June 27, 2010)
"These are basically lottery tickets," said James Angel, a professor of finance at the McDonough School of Business at Georgetown University.
A Chinese Factory Outsources Worker Dorms, The New York Times (June 25, 2010)
“That’s the logic apparel companies relied on 15 years ago when they said ‘it’s not our manufacturing plant so it’s not our problem’ if working conditions are poor,’ ” said Pietra Rivoli, a professor of international business at Georgetown University and the author of “The Travels of a T-Shirt in the Global Economy.”
Bank Bill: Exchanges Come Out Ahead in Financial Regulation, Fox Business (Dow Jones Newswire) (June 25, 2010)
"Clearly, the push to shift over-the-counter derivatives into clearinghouses is going to be good for the exchanges," said James Angel, a professor of finance at Georgetown University. "But the details are what needs to go in, and a lot turns on how the regulators implement the new powers given to them by Congress."
BP Brand May Be Tarnished for Good, Bergin County Record (June 24, 2010)
Ronald Goodstein, associate professor of marketing at Georgetown University's McDonough School of Business, said he believes the BP brand is irreparable.
Analysis: SEC Panel Pits Wider Debate Over Automated Trading, Reuters (June 22, 2010)
"Many of these short-term investors don't strike me as rabid speculators. They're not drooling day traders going 'Ooh I'm listening to emanations from the planet Mars,'" said James Angel, a finance professor at Georgetown University who has studied high-frequency trading.
The Business of Fashion, Blue & Gray (June 2010)
A fashionista at heart, Wendy Wang (B’11) remembers poring through her mother’s issues of Vogue as a child. This summer, she’s mixing her interest in fashion with her business school studies by interning at Seventeen magazine.
Study Says Regulators Should Preserve Pricing Flexibility for Broadband Service to Help Close Digital Divide, PR Newswire (June 22, 2010)
The paper, by economists Robert J. Shapiro, Former Under Secretary of Commerce for Economic Affairs, and Senior Fellow at the Georgetown University Center for Business and Public Policy, and Kevin A. Hassett, Director of Economic Studies at the American Enterprise Institute, notes that the exploding demand for bandwidth, primarily from video applications, will require that the ISPs invest several hundred billion dollars to expand the broadband infrastructure. The study also finds that the pricing approaches used to fund those investments could largely determine the pace of broadband adoption over the next decade.
High Frequency Traders Face SEC/CFTC Panel, Forbes (June 22, 2010)
But May 6 could happen again and the SEC needs to be prepared, according to James Angel, a Georgetown finance professor who has been warning about the possible negative effects high frequency trading since last year.
SIFMA TECH 2010: Hidden Fields May Not Hide Traders' Identity, Securities Industry News (June 22, 2010)
The idea of hiding the identities in non-public fields on the consolidated tape was proposed last week by Dr. James Angel of Georgetown University, as a way of helping create a consolidated audit trail of all transactions, as the SEC has proposed. Angel contends adding such a field would give the SEC the information on traders it seeks, but keep their identities from public view.
APCO Worldwide Picks Up Former U.S. Assistant Secretary of Commerce, APCO (June 22, 2010)
James Moore, Jr., has been hired by APCO Worldwide as a senior counselor and International Advisory Council member. Moore has worked as U.S. assistant secretary of commerce for trade development, principal deputy assistant secretary for commerce for international economic policy, and deputy assistant secretary of commerce for trade information and analysis. He is the founder of investment banking firm ATI, and teaches international business, ethics and management at McDonough School of Business at Georgetown University.
Treasury to Gain Expanded Powers in U.S. Financial Overhaul, BusinessWeek (June 18, 2010)
The Treasury-led council’s role includes identifying companies that might be shut down because they pose a risk to the financial system. That authority, even if well-intentioned, could be used for political ends, said Phillip Swagel, a former Treasury economist who’s now a professor at Georgetown University in Washington.
LBO Tax, Circuit Trigger, Target-Date Funds, Google: Compliance, San Francisco Chronicle (June 17, 2010)
James Angel, a finance professor at Georgetown University in Washington said the days of humans "trading with humans" are over and what we see now "are dueling algorithms." When an algorithm is triggered, the stock falls. Other investors see that and start buying, he said.
Fannie, Freddie Delisting Signals Firms Have No Value, Dow Jones (June 16, 2010)
"This is a positive step," Phillip Swagel, a former Treasury Assistant Secretary for Economic Policy during the Bush administration, argued. "It signals that these guys are going to come out [of conservatorship]in a different form and that the existing shareholders are not going to get anything."
Little Change Seen After May 6 "Flash Crash": Panel, Reuters (June 15, 2010)
James Angel, a Georgetown University finance professor who warned the SEC in a letter a week before May 6 that there is a risk that something will go extremely wrong with trades at high speed, said the markets will remain competitive and prices will fluctuate.
Liquidnet CEO Breaks Down the Flash Crash, Forbes (June 15, 2010)
The flash crash and circuit breakers were also debated at a press event at Liquidnet on June 15. Dr. James Angel, associate finance professor at Georgetown, noted that 70% of the trades canceled on May 6 were from exchange-traded funds. He added that NYSE Arca, which many trading venues declared self-help against that day, is the primary listing venue for ETFs.
A Ball in the President's Court, The Washington Post "On Leadership" Blog (June 14, 2010)
An opinion article by Dean George Daly:
What is important now is to cool the rhetoric, focus on the future, not the past, and to demonstrate a joint determination to solve the problem as efficiently and equitably as possible. I believe that the primary responsibility for setting the stage for such an outcome rests primarily with the president. It will be interesting to see if he chooses it or an alternative path.
Professors See BP Brand Under Stress from Spill, Market Watch (June 11, 2010)
If gasoline buyers in the U.S. start shunning BP stations in significant numbers, it may be forced to revive the Amoco brand it acquired in 1998, but that probably wouldn't work, said Ronald Goodstein, an associate professor of marketing at Georgetown University. "If I'm a competitor, I'd let everyone know that this is BP," Goodstein said. "This is a brand that is short-lived in America."
Alan Andreasen: What Can Brand Marketers Learn from Social Marketing?, MyCustomer.com (June 11, 2010)
Alan R Andreasen is internationally recognised as one of the leading authorities on social marketing, having advised a wide range of organisations and government agencies around the world.
Get Ready for a Fed Rate Hike - in 2010?, CNN Money (June 10, 2010)
"When you keep rates at zero, it's overly tempting for businesses to use finance with short-term debt instead of long-term capital. That's very risky because you have to keep rolling it over," said James Angel, associate professor of finance at the McDonough School of Business at Georgetown University in Washington, D.C.
Treasury Will Set Fees for Banks on GM's IPO, Retain Veto Power, Bloomberg (June 11, 2010)
“It’s a fine line for the Treasury,” said Reena Aggarwal, a finance professor at Georgetown University in Washington who has studied IPOs for 20 years. “They don’t want to sound like they’re micromanaging the company because sooner or later they have to exit out of their ownership. But in the end, they want make sure they have seen everything and have the last say.”
Beware the Biggest Moral Hazard of them All, The Financial Times (June 10, 2010)
An opinion article by Adjunct Professor Marc Lackritz:
Moral hazard has become the swine flu of 2010. Bankers, some politicians and a few vocal pundits warn us incessantly of the impending epidemic in our financial markets if Wall Street reform is enacted.
GM's Treasury-Led IPO May Hand Bankers Lowest Fees Since 1999, BusinessWeek (June 9, 2010)
“It’s not going to be a slam-dunk IPO,” said Reena Aggarwal, a finance professor at Georgetown in Washington who has studied IPOs for 20 years and projects fees of 2 percent to 3 percent for the GM deal. “A company like GM that has gone into bankruptcy, the government had to save it, and now it’s going to come out, adds another twist to the whole process.”
As China's Wages Rise, Export Prices Could Follow, The New York Times (June 7, 2010)
Pietra Rivoli, a professor of international business at Georgetown University and the author of “The Travels of a T-Shirt in the Global Economy,” says the effects of rising labor costs will vary by industry, perhaps with lower-valued goods like garments being forced to move to western China or even to Vietnam and Bangladesh.
Broker-Dealers See Holes in SEC Circuit Breakers, Forbes (June 7, 2010)
Professor James Angel of Georgetown University warns to beware of unintended consequences. Highly fragmented and interdependent stock and derivatives markets, now also highly computerized, operate as a network that for the most part works fine, until it doesn’t.
SunGard's 'One-Stop-Shop': Risky Step?, Securities Industry News (June 7, 2010)
"The boundaries between trading companies and technology providers are very blurred these days with technology firms starting to act like trading operations.," notes James Angel, an associate professor of finance at Georgetown University who teaches courses on market structure
A Steady Freddie? The Washington Post (June 6, 2010)
A recent example is the proposal by two moderate Republican economists, Donald Marron and Phillip Swagel, which notably departs from their party's free-market orthodoxy while promising to abolish the most toxic features of the old "government-sponsored enterprise" model.
Disaster Laws: Will Gulf Oil Spill Change Anything? LiveScience (June 4, 2010)
“Without regulations, the miners wouldn't have the ability to speak against this,” Sauer said. “The importance of regulation is that you need something to back you up when you say, 'This is not safe.’”
SEC Postpones Introduction of S&P 500 Trading Curbs, Bloomberg (June 4, 2010)
James Angel, a professor at Washington-based Georgetown University and an expert on the structure of markets, told the SEC on May 25 that more regulation is needed to prevent plunges the one on May 6.
Deans Set Priorities for Tough Times, The Wall Street Journal (June 3, 2010)
Typically, more than a quarter of Georgetown's M.B.A. grads headed for careers on Wall Street; and nearly a quarter went into consulting. But with fewer of these jobs available—and more competition for them than ever before, Mr. Daly says students receiving jobs by graduation slipped to 67% for the class of 2009.
Harry Potter and the MBA Internship Search, BusinessWeek (June 3, 2010)
An article by MBA student Rusmir Music:
"Harry Potter for the business audience?" was the dismissive response I got when first mentioning this journal idea. My friends' rejection of the topic reflects larger impressions about the world of business: conservative and a bit dry. Yet the more time I spend in business school, the more I realize success in today's business world necessitates insight, imagination, inspiration, and sometimes just a little bit of magic, too.
What do the NYSE and GPS Have in Common? Technology Today (June 2, 2010)
We’ll be joined by Dr. James Angel, a Professor at the McDonough School of Business at Georgetown University and a world-recognized expert in the operations of stock markets. He’s also one of my professors during my MBA program at Georgetown. More on his bio below.
AIG Unit That's Too Big to Sell Means Asia IPO Likely, Bloomberg (June 1, 2010)
“The market is still somewhat excited about the growth in Asia, particularly for the demand for insurance, and deregulation that’s going on in the insurance industry in Asian countries,” said Reena Aggarwal, a finance professor at Georgetown University in Washington.
Stock Markets: That Sinking Feeling, The Financial Times (June 1, 2010)
When James Angel wrote to the Securities and Exchange Commission just over a month ago, he made a prescient point. “With so much activity driven by automated computer systems, there is a risk that something will go extremely wrong at high speed,” the associate professor of finance at Georgetown University warned the US equity market’s main regulator in a letter sent on April 30.
Warp-Speed Trades Outpace SEC, POLITICO (June 1, 2010)
Experts such as Georgetown University’s James Angel warned the Securities and Exchange Commission a few days before of such a possibility and the vast damage it could cause.
May 2010
Highest-Paid MBA Alumni, BusinessWeek (May 2010)
For many MBA students, earning power is one reason, perhaps the main reason, for enrolling in B-school. So which programs really deliver the goods? Over the course of a career, what's your MBA worth? The numbers will surprise you.
Secrets of Successful Business Negotiation, CSO (May 31, 2010)
If you're in deep trouble, the person you want on your side isn't some real-life Jack Bauer; it's Chris Voss. He's been trained in negotiation by Scotland Yard, Harvard University and the FBI, where he was a negotiator from 1992 until 2007, when he retired from his position as the bureau's lead international kidnapping negotiator. He had a key role in creating and teaching the FBI's national negotiation course and was responsible for recruiting, training and leading its 90-person corps of emergency negotiators. Voss has taught business negotiation at Harvard and is currently doing the same at Georgetown University's McDonough School of Business. He is head of the Black Swan Group, a firm that specializes in business and security negotiations.
Value Added: Online, the Art of the Deal, The Washington Post (May 31, 2010)
LivingSocial is a start-up run by some online entrepreneurs, led by Georgetown University graduate Tim O'Shaughnessy, 28. Business is in his blood: His father runs a trucking firm in Minneapolis. O'Shaughnessy joined AOL after graduating from Georgetown's undergraduate business school in 2004.
Oil Spill Cleanup Technology Stuck in the 20th Century, NPR (May 28, 2010)
Professor of the Practice Beverly Sauer is a guest on the show:
Thirty-one years ago, the Ixtoc I well blew out in the Gulf of Mexico after its blowout preventer failed. Cleanup crews responded with oil booms, skimmers and detergents. Ira Flatow and guests discuss why, three decades later, oil cleanup crews still rely on the same technology.
SEC's Pitiful Pequot War, Fortune (May 27, 2010)
"This case shows how badly enforcement failed over the past decade," said James Angel, a professor at Georgetown. "Pequot has been a high-profile embarrassment for them -- they had to do something. I guess it's a case of better late than never."
'Making Money is a Fun-Filled Game to Warren Buffett,' Rediff Business (May 27, 2010)
Prem Jain, Elsa C McDonough professor of accounting and finance, McDonough School of Business, Georgetown University, has studied legendary investor Warren Buffett's investment ideas since the Oracle of Omaha's teaching days at the Wharton School.
Hell Hath No Fury Like a Woman Scorned, Science Confirms, Winnipeg Free Press (May 27, 2010)
Revenge has an emotional geography. "(Avengers) are motivated to make sense of events when they seem unjust or disrupt perceived equity," concluded Robert Bies at Georgetown University and Thomas Tripp at Washington State University in a recent analysis. "They attempt to restore balance through their (retributive) actions."
Group Refurbishes School Bus for Oily Journey, Mississippi Gulf Live (AP Story) (May 26, 2010)
It began as a group trip out West, then evolved into an effort to travel using a fuel found in many kitchens in the country-waste vegetable oil. So far, they've found success. Nine of the 11 people on the journey launched this past week met at Mississippi School for Mathematics and Science in Columbus and the other two met the rest through mutual acquaintances, said Louis Rosa, a recent graduate of Georgetown University with a degree in international business and a minor in Spanish from Tupelo.
Globalised T-Shirt Offers Vital Insights on Markets, BusinessReport (May 26, 2010)
The author, Pietra Rivoli, who is an economics professor at Georgetown University, has traced all of the people and places involved in the production and delivery of her T-shirt. She has also traced the textile industry through time, recounting how it has inevitably been the first step in a country's process of industrialisation, beginning first with Britain in the 18th century.
Wall Street Reform: Who Won, Who Lost, CNN Money (May 25, 2010)
"It's kind of hard to know how it's ultimately going to affect banks," said Phillip Swagel, business professor at Georgetown University and former Treasury Department chief economist under President George W. Bush. "But if the regulators have a race to see who can be the toughest, that's going to have the biggest impact on bank profitability."
Mideast Peace is a Global Issue, Los Angeles Times (May 25, 2010)
An op-ed by alumnus and Lebanese Prime Minister Saad Hariri:
In the fall of 1991, I was an undergraduate student at Georgetown University, following the coverage of the Madrid peace conference. In the Spanish capital, the United States had managed to gather Arabs and Israelis around a table with the aim of ending what was then half a century of war and desperation, whose first victims were the people of the region, including the people of my country, Lebanon.
Tradition-Driven Institutions, The Washington Post "On Leadership" (May 25, 2010)
A blog posting by Dean George Daly:
Conventional universities tend to be tradition-driven institutions. This makes them slow to respond to important external changes. At the current time, these include soaring tuition levels, dramatic changes in the technology of transferring information, and the rise of new, innovative sources of competition, ranging from for-profit educational institutions to the free-standing professional schools that are coming to play decisive roles in the Europe, Israel, and elsewhere in the developed world.
Fund Partners with 10 Top MBA Programs for New Fellowship Program for Emerging Leaders, B-School Admissions Formula (May 24, 2010)
The William G. McGowan Charitable Fund will partner with 10 top MBA programs across the United States as part of a new fellowship program designed to support promising students who demonstrate academic excellence and social leadership during their first year of MBA studies.
Michael Riboli: Where the Nose Is, LA Weekly (May 24, 2010)
As a Georgetown University business-school grad, he did a stint as an analyst at Cushman & Wakefield. But after a trip to Italy to study the culture and language, he believed he could best apply his knowledge to his love of wine, eventually earning certification from the Court of Master Sommeliers.
Hariri to Meet Obama on Monday, Ya Libnan (May 24, 2010)
Washington for Hariri is a second home . He graduated from the McDonough School of Business at Georgetown University, with a major in business administration, in 1992 .
Fannie, Freddie Fix is a Federal Hot Potato, The Wall Street Journal (May 24, 2010)
Phillip Swagel, a former assistant Treasury secretary under President George W. Bush, says it is inevitable that the government will end up playing some role in backstopping mortgages. Instead of debating whether the government should be involved at all, policymakers should focus on clearly spelling out public and private roles, he says.
(Article is based on his research, posted at http://www.economics21.org/commentary/whither-fannie-and-freddie-proposal-reforming-housing-gses)
Young, Disconnected -- And Ready for Mentoring, The Washington Post's "On Leadership" (May 21, 2010)
A submission from Adjunct Professor Jimmy Lynn.
In fact, it is going to take the concerted, coordinated effort of nonprofits, like Year Up, that find and train disconnected young people; educational institutions, including Georgetown, to mentor these young people; and corporate partners, such as AOL, to help these young people reach their potential.
This is a Good Time to Invest, India Abroad (May 21, 2010)
Prem Jain, Elsa C. McDonough professor of accounting and finance, McDonough School of Business, Georgetown University, has studied Warren Buffett's investment ideas since the Oracle of Omaha's teaching days at the Wharton School. The result of Jain's 25 years of research is his latest boo Buffett Beyond Value in which he describes the difference between Buffett's attitude towards investing and the academic approach.
Regulators, Senate Considers Safety Net, Post-Stock Market Plunge, PBS NewsHour (May 20, 2010)
JAMES ANGEL, Associate Professor of Finance, Georgetown University: Well, we have got a lot of natural volatility in the market as a result of the situation in Greece, not to mention the jitters in Korea and in Iran.
ACG Announces ACG Cup Competition 2010 Winners, Yahoo! Finance (May 20, 2010)
The Association for Corporate Growth (ACG) announced today the winning teams of the 2010 ACG Cup. This year’s competition included a record 1,200 MBA students from 115 business schools. In addition, nearly $204,000 in scholarships and awards were bestowed upon the winning participants.
ACG National Capitol - Georgetown McDonough School of Business
What is Naked Short Selling? CNBC (May 19, 2010)
In the wake of Germany's ban on short selling certain asset classes, Professor James Angel from Georgetown University spoke to CNBC Wednesday.
Q&A: Market-Wide 'Circuit Breaker' Rules Proposed to Prevent Crashes, PBS NewsHour (May 19, 2010)
To make sense of the new rules and whether they may be effective, we spoke with James Angel, an associate professor at Georgetown University who specializes in the structure and regulation of financial markets.
Doubling U.S. Exports: Can We Do It?, The Korea Times (May 19, 2010)
An op-ed by Michael Czinkota and Charles Skuba:
President Barack Obama has announced the goal of doubling U.S. exports within the next five years. Since the end of 2008, export growth has halted on a global level.
SEC Plans 'Circuit Breakers' to Prevent Crashes, Financial Times (May 19, 2010)
"A 10 per cent circuit breaker is a good idea," said James Angel, professor of finance at Georgetown University's McDonough School of Business.
SEC Sets 6-Month Test of Stock Circuit Breakers, Forbes (May 18, 2010)
Some academics, including Georgetown finance professor James Angel, have been sounding alarms about potential glitches caused by the highly fragmented markets for more than a year. In a letter to the SEC earlier this month, Professor Angel wrote: "We didn’t have a Category 5 hurricane on May 6, 2010; we only had a Category 1. A Category 5 is still a distinct possibility if we do not make the right reforms."
Technology and Training, The Kojo Nnamdi Show (May 18, 2010)
James Angel was a guest on this show:
It's being called the "flash crash." Over the course of a half hour, the stock market plunged nearly 1,000 points before reversing and recovering 543 points in a minute and a half. One culprit could be the ultra-fast electronic trading that automatically buys and sells stock at certain trigger points. We'll explore how technology is transforming the nature of the stock market, and what safeguards could be put in place for the future.
After the Spill: Big Oil Plots its Comeback, Forbes (May 18, 2010)
Experts agree the industry will change in the wake of the disaster. "Regulations have not kept up with technological change," says Beverly Sauer, professor at Georgetown's McDonough School of Business.
Do Virtual Teams Work? Study Finds Widespread Challenges, Daily Finance (May 18, 2010)
Meanwhile, Brooks Holtom, an associate professor of management at the McDonough School of Business at Georgetown University, says the study would have been enhanced by comparison with groups that work in the same location, and by more information about the respondents, such as their positions or level of training.
Pew Poll: Utah Voters Want Financial Reform Now, The Salt Lake Tribune (May 17, 2010)
Recently the Pew Financial Reform Project asked Phill Swagel, an economist and former Treasury official under George W. Bush, to answer a simple question: What is the tab for the recent financial crisis? The results of his analysis are striking.
Opposing View on Wall Street: Safe at Any Speed, USA Today (May 17, 2010)
An op-ed by Associate Professor James Angel:
Our markets operate at computer speed, but the people who supervise them don't. We do not have computerized circuit breakers in the U.S. that react instantly when something goes wrong. We need a system similar to the German one in which trading is instantly halted for a short time when stock prices move too far, too fast.
Georgetown University - Lucky Dog, GMAC Team MBA (2010)
Lucky Dog rescues dogs from high-kill shelters, mostly in southern states, and brings them to urban areas to find loving homes. Georgetown University McDonough School of Business volunteers were each given a dog to handle and play with for the afternoon, along with an information sheet to share with prospective families.
Kansas Mutual Fund is Linked to Market’s Plunge, The New York Times (May 14, 2010)
Without enough human oversight, computerized trading in today’s markets can easily overwhelm the current technology, said James Angel, a professor of finance at the McDonough School of Business at Georgetown University. In a February 2010 study commissioned by the Knight Capital Group, a major market maker, Mr. Angel warned of such a possibility.
'Flash Glitch' Fears Force SEC Hand, The Financial Times (May 13, 2010)
James Angel, professor of finance at Georgetown University, says the current system of trading halts in a stock ahead of a news announcement is a good place to start as all trading venues respect that rule.
Briefing: Computer Traders Blamed for Wall Street Crash, New Scientist (May 13, 2010)
"The big problem," says James Angel, who studies financial markets at Georgetown University in Washington DC, "is that US exchanges have no real-time safeguard against extreme malfunction."
Accenture for a Penny: MarketBeat's Investigation Continues!, The Wall Street Journal (May 12, 2010)
We were interested in learning a bit more about “stub quotes,” and called up James Angel, a finance professor at Georgetown’s McDonough School of Business, a self-confessed markets nerd.
Bourses Call for Common 'Circuit Breakers,' The Financial Times (May 12, 2010)
James Angel, professor of finance at the McDonough School of Business at Georgetown University, said the market needed a standard circuit breaker and the current system of trading halts in a stock ahead of a news announcement was a good place to start.
Market Inquiry Focuses on One Trader, The New York Times (May 12, 2010)
The normal stabilizers were pushed out by the systems glitches,” said James J. Angel, a professor at Georgetown University who studies financial markets.
What Offshore Miners Know, Reuters (May 11, 2010)
An op-ed by Professor of the Practice Beverly Sauer:
Ultimately, however, the on-site experience and drilling expertise that rig workers bring to their job is critical to the future design of sustainable energy production systems in a nation heavily dependent on both coal and oil. Like the precious oil leaking into the Gulf, we must learn to capture, integrate, communicate, and honor this knowledge in our quest for oil—as we honor the memory of the rig workers who died in the disaster.
How Much More for Fannie and Freddie?, SmartMoney (May 11, 2010)
Korok Ray, assistant professor at Georgetown University’s McDonough School of Business: Fannie and Freddie are insolvent in large part because “they’ve been underpricing their premiums for decades,” Ray says. They either need to insure less-risky loans, hold more capital to protect against potential losses, or charge more for the insurance they provide, he says.
Once Cheer for Financial Reform; More Cheers Could Follow, The American (May 11, 2010)
An article by Visiting Professor Phillip Swagel:
The past week has seen important progress on legislative efforts for financial regulatory reform, including advances on both substantive and symbolic (but politically charged) issues.
Climate Change: The Greatest Entrepreneurial Opportunity of a Lifetime, EV World (May 11, 2010)
On Wednesday, April 21, 2010, serial entrepreneur Richard Branson, stepped to the podium at Georgetown University's McDonough School of Business, after being introduced by SunEdison founder and now CEO of the Carbon War Room, Jigar Shah.
Investors Hurt by Stock Freefall May Have to Live with Losses, Reuters (May 10, 2010)
"I suspect lawyers will circle around the situation, and the idea that trade cancellations cannot be appealed will get thoroughly tested in the courts," said James Angel, a finance professor at Georgetown University's business school.
The Wall Street Flash Crash is on the SEC’s Radar, Nightly Business Report (May 10, 2010)
JAMES ANGEL, ASSOCIATE FINANCE PROFESSOR, GEORGETOWN UNIVERSITY: We need computers that respond in real time when the market gets chaotic. And from everything I've heard, we're going to have instantly activated circuit breakers that will respond in computer time rather than in human time.
SEC, Exchanges Move to Bolster Circuit Breakers, CNN Money (May 10, 2010)
"Computerized markets are dangerously unprotected form this kind of glitch," said James Angel, a professor of finance at Georgetown University, who has testified about this issue numerous times before Congress. "But the exchanges can fix this easily by calling a trading halt."
The Market Rebounds!, Time’s The Curious Capitalist Blog (May 10, 2010)
Should we expect to see a repeat of this sort of event? In this op-ed, Georgetown University's James Angel argues that we probably will—unless we institute better electronic safeguards. Add it to the financial-system reform docket?
There is Life After Brussels, El Pais (Spain) (May 10, 2010)
We are at the headquarters of ESADE in Madrid. A modern building, where we welcome Pedro Parada and Paul Almeida, the directors of the Global Executive MBA (GEMBA), master created in 2008 by U.S. ESADE and Georgetown University.
Ten Books to Read for May, The Bulletin (Philadelphia) (May 7, 2010)
Buffett Beyond Value, by Prem Jain. With the economy improving and the stock market jumping over 2000, this is a great book for developing a strategy to leverage the resurging market and set your portfolio in the right direction. It provides insights into the world’s most famous investor’s method for selecting the right companies in which to invest.
Angel Calls Market Trade Swing ‘Panic’ at Internet Speed: Video, Bloomberg (May 7, 2010)
James Angel, associate business professor at Georgetown University, talks with Bloomberg's Lori Rothman and Dominic Chu about yesterday's selloff in the U.S. stock market. Angel also discusses the function of computers in exchanges, the need for new regulations to curb volatile market swings and the drivers for the trading activity.
How the Dow’s Dramatic Plunge Could Have Been Prevented, Forbes (May 7, 2010)
An op-ed by Associate Professor of Finance James Angel:
Thursday's trading glitch--in which the Dow Jones industrial average plummeted over 500 points in five minutes--was not the first time U.S. markets have hiccuped, nor will it be the last. Our markets currently depend on slow-moving humans to catch mistakes. We need automatic circuit breakers that will halt trading in individual stocks instantly when things go haywire in order to prevent further damage. It is time for the SEC to take action to minimize future damage from the inevitable high speed trading mistakes that will occur in our high-speed electronic markets.
Opinion: How to Prevent Another Market Meltdown, AOL News (May 9, 2010)
An op-ed by Associate Professor of Finance James Angel:
The SEC has been slowly studying these issues for some time. Indeed, I testified before an SEC roundtable last year on the need for shock absorbers to deal with such excess volatility. The recent glitch is a signal that we need to take action. If we don't act, the next big glitch could be much worse.
Stocks ‘Tornado’ May Prompt Electronic Trading Rules, BusinessWeek (May 10, 2010)
“The SEC is under tremendous pressure,” said James Angel, a finance professor at Georgetown University in Washington. “It’s the duty of the SEC to guarantee fair and orderly markets, and I don’t think anybody would say last week’s tornado was fair and orderly.”
Warning on Systemic Market Risk, The Financial Times (May 9, 2010)
“This is a wake up call and markets are dangerously unprotected from a major misfiring algo,” says James Angel, Professor of Finance at Georgetown University’s McDonough School of Business.
How Toyota and Goldman Sachs Stumbled and We Could, Too, New Europe (May 9, 2010)
An op-ed by Robert Shapiro, a Senior Fellow at the Center for Business and Public Policy:
If we cannot get past the partisan warfare, the United States in a few years could find itself in Toyota’s place, with a tainted brand and smaller political market share. Our Treasury bills and bonds are very unlikely to ever default, as Greece nearly did this week (and still could do, if the bailout fails in any significant way). But the normal politics-of-least-resistance will never reconfigure taxes or reshape spending. Instead, it will lead us to a place where we have to pay out more and more to attract foreign investors, and those higher interest rates could consign the American economy to years of very slow growth. That’s what can happen to a great nation that insists on acting like a child or addict, blind to its own self-destructive behaviors.
Thursday’s Stock Market Free Fall May Prompt New Rules, The New York Times (May 8, 2010)
"When the New York Stock Exchange went into slow motion, a system designed to stabilize trading actually backfired in practice," said James Angel, a professor at Georgetown University who studies financial markets. "No exchange should have an independent circuit breaker."
5 Trading Errors that Shook the Markets, SmartMoney (May 7, 2010)
Computerized trading strategies are designed to stabilize the market by automatically buying when stocks dip and selling when they rise, says James Angel, an associate professor of finance at Georgetown University's McDonough School of Business.
Trading Goes Wild on Wall Street, The Financial Times (May 7, 2010)
“Today is a wake up call that algos can run wild” said James Angel, professor of finance at Georgetown University’s McDonough School of Business.
How NYSE Humans Saved P&G Shares, The Wall Street Journal (May 7, 2010)
James Angel, Professor of Finance at Georgetown University's McDonough School of Business, said that's what the market needs. He added, "as they say, an ounce of prevention is worth a pound of cure."
U.S. Stock Plunge Raises Alarm on Algo Trading, Reuters (May 6, 2010)
"The trouble is the exchanges aren't saying what caused the erroneous trade," said James Angel, a professor at Georgetown University's McDonough School of Business who specializes in market structure. "What they are saying is that it's not my fault, it was somebody else's fault."
Market Fragmentation May Get Regulator Review After Stock Drop, Bloomberg News (May 7, 2010)
The rout showed how the fragmentation of the U.S. equity market may suppress demand when it's needed most, especially when the New York Stock Exchange attempts to calm trading, said James Angel, a finance professor at Georgetown University in Washington.
High-Speed Trading Glitch Costs Investors Billions, The New York Times (May 7, 2010)
“We have a market that responds in milliseconds, but the humans monitoring respond in minutes, and unfortunately billions of dollars of damage can occur in the meantime,” said James Angel, a professor of finance at the McDonough School of Business at Georgetown University.
Wild Day on Wall Street Leaves Electronic Exchanges Under Scrutiny, The Washington Post (May 6, 2010)
The new SEC rules toppled the dominance of NYSE, said James Angel, a professor at Georgetown University's McDonough School of Business. As a result, a single entity no longer can put a stop to panicked selling. The markets Thursday were a preview of what happens when other trading venues take over, he said.
Stocks Nosedive as Europe's Woes Mount, Los Angeles Times (May 7, 2010)
James Angel, an expert in financial markets at Georgetown University, said the day's manic trading showed that U.S. market regulation hasn't kept up with the speed of technological advances in the trading world.
Economic Outlook: A Glitch-Topped Crisis, United Press International (May 7, 2010)
"We have a market that responds in milliseconds, but the humans monitoring respond in minutes, and unfortunately billions of dollars of damage can occur in the meantime," James Angel, a professor of finance at the McDonough School of Business at Georgetown University, told the Times.
Dr. Robert Shapiro and Attorney Wes Christian to Appear on "Tim Connolly's Winning Strategies" May 7, 2010 at 9 a.m., PR Newswire (May 6, 2010)
Shapiro is also a Senior Policy Fellow of the Georgetown University Center for Business and Public Policy, an advisor to the International Monetary Fund, chairman of the U.S. Climate Task Force, director of the Globalization Initiative at NDN, co-chair of American Task Force Argentina, and director of the Ax:son-Johnson Foundation in Sweden.
Why Regulations Aren't Enough, New York Times "Room for Debate" (May 5, 2010)
An op-ed by Professor of the Practice Beverly Sauer:
Unlike the recent Upper Big Branch mine disaster, the Deepwater Horizon explosion and fire did not leave a transparent paper trail of violations that contributed to the disaster. In hindsight, safety regulation in the oil industry could not protect workers or the environment because the industry did not believe that it would confront an environmental catastrophe, and regulators did not require the industry to apply common sense engineering reasoning to mitigate disaster. Ultimately, the company had no back-up plan to deal with a simple but predictable household engineering problem — a leaky pipe and malfunctioning cut-off valve.
In Wake of Oil Spill, BP Stock Looks Cheap, The Wall Street Journal (May 4, 2010)
Jim Angel, associate professor at Georgetown's McDonough School of Business, says that when the bad news hits you can become a "pariah stock" in the fund management industry "overnight." Like now.
Money Talk, Real Estate Biznow (May 4, 2010)
Last week we joined the new DC chapter of the Real Estate Lenders Association and NAREIT for the first annual Georgetown Real Estate Summit, held in the impressive new Rafik Hariri building at the McDonough School of Business.
What Rise in Consumer Spending Means, American Public Media Marketplace (May 3, 2010)
"This is a bit of a bounce back. I don't think we're going to have a gangbuster, consumer-driven, let's all get new cars and jack up credit cards. I don't think we're going to see that going forward." That's Phillip Swagel. He was a senior economist in the Bush administration. Now he's at Georgetown University's school of business.
April 2010
Ironing Out the Kinks in the Dodd Bill, The Wall Street Journal (April 30, 2010)
An op-ed by Visiting Professor Phillip Swagel:
Imagine a future in which Sen. Chris Dodd's financial reform bill was law and a firm like AIG or Lehman Brothers failed. Without a vote of Congress, the government could guarantee the firm's debts or put money into the failing firm to keep it afloat and reduce the hit taken by creditors such as banks and pension funds that lent the firm money.
U.S. Banks Not Worried About Greece - Yet, CNN Money (April 30, 2010)
"Banks are fundamentally opaque institutions. You can look at their balance sheets, but you don't know what loans they hold," said James Angel, associate professor of finance at Georgetown University in Washington.
From Milan to Oxford - Here are the Master's Degrees that Are Already Working, Corriere Della Sera (April 30, 2010)
(Translated from Italian) Many possibilities for those who want to move to a European country. Among the most notable: the Global Business Executive MBA organized dall'Esade Barcelona and the Georgetown McDonough School of Business of Washington issuing a dual degree.
Obama Picks Nominees to Fill Fed Vacancies, The Financial Times (April 29, 2010)
“The job of the Fed has gotten bigger. Americans look to it for many more things, not just monetary policy,” said Phillip Swagel, a former Treasury official in the Bush administration, and now a visiting professor at Georgetown University’s business school.
Can $25.3 Million Buy the Senate Banking Committee? Capitol News Connection (April 29, 2010)
Financial market experts such as Professor James Angel of Georgetown University said all of those sectors and more feel like their futures are on the line. The legislation proposes to reshape a wide range of financial services, especially securities transactions and commercial banking, plus regulate financial derivatives and enhance consumer protections.
U.S. Households Lost $100,000 From Financial Crisis, Study Says, BusinessWeek (April 28, 2010)
The financial crisis and recession cost U.S. households an average of about $100,000 in lost wealth and income, according to a study by former Treasury Department economist Phillip Swagel.
Goldman's Echoes of Pecora, Forbes (April 27, 2010)
"It's human nature to want to put a face on the problem," says Georgetown University visiting professor Phillip Swagel.
Plenty of Economic Acrimony on Capitol Hill, WTOP News (April 27, 2010)
Phillip Swagel, Professor of Business at Georgetown University and former Assistant Secretary for Economic Policy at the Treasury Department from December 2006 to January 2009
Icelandic National Broadcasting (April 26, 2010)
An interview with Associate Professor of Finance Jim Angel about financial reform.
Blackboard Inc. CEO Michael Chasen to be Honored at April 28 "Dare to Dream..." MMD Newswire (April 26, 2010)
On April 28, the national nonprofit organization the Network for Teaching Entrepreneurship will honor Michael Chasen at its 13th annual Dare to Dream DC Gala. Chasen holds an MBA from Georgetown University and an undergraduate degree in computer science from American University.
Yes, It's a Bailout Bill, The Journal of the American Enterprise Institute (April 24, 2010)
An article by Visiting Professor Phillip Swagel:
The debate over financial regulation is now focused squarely on the ability of the government to take over a failing financial institution such as a bank holding company or hedge fund—so-called non-bank resolution authority.
Obama Seeks to Stabilize a Risky Business, NPR (April 24, 2010)
Other than that, says Phillip Swagel, a former Treasury Department official under President George W. Bush who now teaches at Georgetown University, there's broad bipartisan agreement about the need to create more transparency in the derivatives market.
How Long Should We Help the Unemployed? CNNMoney (April 23, 2010)
Even if Congress does extend benefits one more time, the jobless should expect that one to be the last, said Phillip Swagel, business professor at Georgetown University and former Treasury Department chief economist under President George W. Bush.
Branson's Call to Green Entrepreneurs, Forbes (April 22, 2010)
During a three-day conference, "Creating Climate Wealth," at Georgetown University McDonough School of Business, Branson and six other founders of the Carbon War Room hope to start a new kind of green movement--one that will draw on businessmen by focusing on the bottom line.
Carbon War Room Arrives, The Washington Post (April 22, 2010)
The effort, which formally kicked off Wednesday with its "Creating Climate Wealth Summitt 2010" at Georgetown University's McDonough School of Business, has launched an array of efforts.
Coal Mine Safety, CRI Beyond Beijing (April 22, 2010)
An interview with Professor Beverly Sauer about coal mine safety.
Warren Buffett as Growth Manager, TheStreet.com (April 22, 2010)
A video interview with Professor Prem Jain about his new book.
Financial Regulation Primer, The Kojo Nnamdi Show - WAMU (April 22, 2010)
Visiting Professor Phillip Swagel was a guest on the show.
Volkswagen US Chief: US Market Not Ready for Electric Vehicles, The Wall Street Journal (April 22, 2010)
The retail gasoline price peaked around $4 in 2008 and has since tracked in the $3 range. "It will take time" before plug-ins take off in the U.S. market, Jacoby said during a discussion at Georgetown University in Washington.
Area Universities Lead with Green Buildings, Northwest Current (April 22, 2010)
The American University building may be the newest candidate for Leadership in Energy and Environmental Design certification among the universities in Northwest D.C., but it isn't the first. This month, Georgetown University announced that its Rafik B. Hariri Building, which houses the McDonough School of Business, earned a silver rating, and George Washington University's South Hall became the first gold-rated campus building in the District.
Personal Commitment, The Washington Post "On Leadership" Panel (April 20, 2010)
The following is a post by Dean George Daly: It is extremely important for leaders to demonstrate their personal commitment to an uncertain path they propose pursuing. It's an area in which actions speak louder than words ever could. It's why university deans should continue to teach classes, CEOs to visit company locations and, for that matter, members of Congress not to exempt themselves from the effects of legislation they pass.
How to Regulate the Internet Tap, The New York Times (April 20, 2010)
An op-ed by Georgetown's John Mayo, Marius Schwartz, and Robert Shapiro.
Ms. Kroes’s comments reflect the decision made by the European Union in November to avoid any of the more extreme regulations that could stifle the innovation that has been the hallmark of the Internet. Instead, the union chose a more measured approach that emphasizes transparency.
Should a Brand Like Sony Extend into Binoculars or Scanners? It depends on the Competition, Science Centric (April 20, 2010)
Many companies grow by extending their brands into new types of products. A new study in the Journal of Consumer Research examines why some of those new products succeed and others fail. 'A common assumption in most brand extension research is that there is a positive relationship between the perceived fit of the parent brand with the extension product category and consumers' preferences for that extension,' write authors Sandra J. Milberg, Francisca Sinn (Universidad Adolfo Ibanez, Santiago, Chile), and Ronald C. Goodstein (Georgetown University). 'Yet the consumer marketplace is replete with successful extensions that appear perceptually distant from their parent brands and others where perceptually close extensions have failed.'
Wall Street Reform: Ending the Bailouts, CNN Money (April 19, 2010)
"Some people think that as long as the government doesn't end up paying for it, it's not a bailout. I think that's just wrong," said Philip Swagel, a visiting professor at Georgetown University, who was an assistant Treasury secretary during the George W. Bush administration.
Supermarkets Pay for Pricing Violations, The Poughkeepsie Journal (April 19, 2010)
Pricing errors, such as the wrong price on an item or incorrect value in the computer, often occur when items are advertised at a discount but not marked down, a 1994 study by Ronald Goodstein in the scholarly publication "Journal of Marketing" found.
Micro-Lender Bringing His Vision of Helping the Poor to D.C., The Washington Post Capital Business (April 19, 2010)
The organization's expansion to Washington has been accelerated by support from local corporate funding. When Yunus introduced a screening of a film about Grameen, "To Catch a Dollar," at Georgetown University's McDonough School of Business, John G. Finneran Jr., general counsel at McLean-based Capital One Financial announced that the company would make a $1 million loan to get the local office started.
The Marriott Philosophy Lives On, The Washington Post Capital Business (April 19, 2010)
Bill Marriott, chairman and chief executive of Marriott International, spoke at Georgetown University's McDonough School of Business on Monday about his company's philosophy of taking care of employees because then they will take care of customers and then the customers will keep coming back.
Bank Regulation Front and Center, CNBC (April 16, 2010)
Financial regulation was front and center in Washington Friday as President Obama met with his outside economic advisory board on reform. Georgetown University Professor Philipp Swagel spoke to CNBC's Nicole Lapin about the key issues.
You Can Work Your Way Through 11 Grad Degrees, U.S. News & World Report (April 15, 2010)
Benjamin Bolger is a student in Georgetown's Executive Master's in Leadership program:
Now that he's gotten a doctorate and is working as a visiting professor at the College of William and Mary, he's making time for exercise and healthful eating while still indulging his passion for education: He's driving north regularly to take courses for new master's degrees from Georgetown and the University of Pennsylvania.
Can GE Still Manage?, BusinessWeek (April 15, 2010)
"Their investment is formidable," says Brooks C. Holtom, a management professor at Georgetown University's McDonough School of Business. "The bench is widely viewed as one of the deepest in the world."
The Discordance of New York Central Jazz, Regulation (Spring 2010)
An article by John Hasnas: In 1909, the Supreme Court decided the case of New York Central & Hudson River R.R. Co. v. United States, which held corporations vicariously liable for the crimes their employees commit within the scope of their employment. Because vicarious criminal liability is utterly inconsistent with the ethical values that lie at the heart of Anglo-American criminal law, this was a serious mistake.Nevertheless, for the past 101 years, federal courts have consistently upheld this form of vicarious criminal liability. I once heard jazz defined as the musical form in which one legitimizes a mistake by repeating it. If this is accurate, then the federal judiciary has been playing New York Central jazz for more than a century. It is high time that it changed its tune.
A T-Shirt in the Global Economy, WFAE Radio/NPR (April 12, 2010)
Join us as we follow the fascinating journey of a single t-shirt through the global economy. Professor Pietra Rivoli has studied such a journey in her attempts to understand and explain how our global economy works. The path a single t-shirt makes from raw material, to manufacturing, distribution, retail and into a consumer’s hands can tell us a great deal about how the economy works. Professor Rivoli is in town for a lecture at UNC Charlotte but first she joins us to share her insights.
Surprise: Fund Fees Hold Steady Amid Market Rally, BusinessWeek (April 12, 2010)
Despite the costs, actively managed funds can be necessary for those who wish to invest in parts of the market where expertise is valuable, says William Droms. a Georgetown University business professor. In real estate investment trusts, small-cap stocks, and international stocks, "there is an opportunity for active management to add value," he says.
Spring Brings U.S. Housing Renewal as Aid Ends, Reuters (April 8, 2010)
"The doctor is pulling off the life support system hoping that the patient's heart beats on its own," said James Angel, associate finance professor at Georgetown University's McDonough School of Business in Washington.
Why Do We Still Have Mining Disasters, The New York Times (April 7, 2010)
The following is an opinion piece by Professor Beverly Sauer:
As West Virginia’s governor articulated, the explosion at the Upper Big Branch Mine reminds us of the extreme hazards that miners face in supplying the nation’s energy needs at an affordable price.
Retailers: A Halting, Uneven Recovery, BusinessWeek (April 7, 2010)
Consumers appear unsure whether to believe the economy's recent recovery will continue. With data so contradictory, "people don't know what is going on," says Ronald Goodstein, marketing professor at Georgetown University's McDonough School of Business. "The signals are so mixed."
Virgin Group's Richard Branson to Speak at Creating Climate Wealth Summit in DC, The Examiner (April 7, 2010)
Billionaire Richard Branson, founder and chairman of Virgin Group, will speak at the Creating Climate Wealth Summit in Washington, D.C., April 20-22 at Georgetown University's McDonough School of Business.
American Exports: The Solution?, NPR's "On Point" with Tom Ashbrook (April 7, 2010)
This Hour, On Point: Can America export its way out of economic crisis? And what would that look like?
Professor Brad Jensen was a guest on the radio program.
Export Control Reform is Necessary, The Korea Times (April 7, 2010)
The followingn is co-authored by Professor Michael Czinkota:
Export controls are a principal means of defending a nation's high technology advantage over its potential adversaries. It is incumbent upon each nation to keep up with constantly evolving technology and adapt its export control system.
Jorge Haddock Installed as Dean of SOM, The Mason Gazette (April 5, 2010)
Following the investiture, Haddock was joined by a distinguished group of individuals for a panel discussion on global business education. Moderated by President and CEO of the Greater Washington Board of Trade James Dinegar, the panel included: Ian Carter, president, global operations, Hilton Worldwide; George Daly, dean, McDonough School of Business, Georgetown University; Richard Durand, dean, Kogod School of Business, American University; Walt Havenstein, chief executive officer, SAIC; and Susan Phillips, dean, School of Business, The George Washington University.
Prem C. Jain's 'Buffett Beyond Value' Highlights Important Lessons, The Motley Fool (April 3, 2010)
In a crowded field full of books dedicated to learning and profiting from the lessons taught by Warren Buffett, Georgetown University Professor Prem C. Jain’s Buffett Beyond Value has made an important and timely contribution.
Self-Awareness and the Business School Application: MBA Diversity Admissions Panel, The Vault (April 2, 2010)
"It's very important to be yourself, but be your best self," said Kelly R. Wilson, assistant dean and director of Georgetown University's McDonough School of Business, at the event's admissions panel. But in order to know your "best self," you also have to know your worst self by understanding what your weaknesses are and how you can improve them. Continued Wilson, “I can’t stress enough how much the issue of self-awareness comes up in our admissions committee meetings,” everyone has something he or she can work on.
Impact of Health Reform on the Deficit, C-SPAN (April 1, 2010)
Participants, including Georgetown's Bill Novelli, talked about newly enacted health care reforms and the impact of the reforms on the deficit. Following their prepared remarks they answered questions from the audience. (Professor Novelli begins his remarks at 41:34 in the video. Jump to this part of the video by clicking on his name in the transcript section.)
A New Kind of Capital Fund, Richmond BizSense (April 1, 2010)
Frank Ball, who like Mike McGinley is an instructor at Georgetown University’s business school, said that it’s a so-called pledge fund. “Rather than be a fund where everyone puts in and we make joined-at-the-hip decisions, we bring investment opportunities to our membership, and only those who are inclined to invest, at whatever rate of participation, go ahead and do so.”
March 2010
U.S. Economic Stimulus Works, Economy Recovers Under Obama, The Market Oracle (March 30, 2010)
Georgetown University professor Phill Swagel, who was Assistant Treasury Secretary in George W. Bush’s administration and considers himself an Obama critic, said that “They could have done a better job, but their economic policies, including the stimulus, have helped move the economy in the right direction.”
New York Bar to Set Menu Prices Like Stocks, Reuters (March 24, 2010)
Bae, 35, who has an MBA from Georgetown University and Cakar, a veteran restaurant hand, combined forces to open the airy lounge, which serves up to 60 people.
New Study Shows S Corporation ESOPs Outperformed Other Companies During the Recent Recession, PR Newswire (March 24, 2010)
A Georgetown University/McDonough School of Business study released today found that, in the most recent economic recession, Subchapter S companies owned by their employees through employee stock ownership plans (ESOPs) demonstrated considerable resilience and performed better than other companies in providing for workers' retirement security, job creation, and revenue growth.
Student Opinion Honors - Global Management, Entrepreneur Magazine (March 2010)
Georgetown's McDonough School of Business was named one of the top 15 schools in the world for global management.
Live Blog: Take II on Broadband, Digital Society (March 23, 2010)
It’s a busy day on the broadband beat. In addition to National Journal’s event on the subject, the Technology Policy Institute and Georgetown Center for Business and Public Policy invited experts from industry, academia and government to the National Press Club to share their initial thoughts on the plan.
Pay Czar Widens Review of Executive Pay at Banks, The Washington Post (March 23, 2010)
"On one hand, some of these banks were effectively forced to take TARP money," said Angel, who has studied executive compensation. "But you could also argue that the executives of surviving banks should not be compensated highly because it wasn't really their particular skill, it was their luck that they were in an institution that survived when the government bailed out the financial system."
Designs That Ignore a Wider Terrain, The Financial Times (March 22, 2010)
A study by Phillip Swagel of Georgetown University estimates the cost for the US of the recession so far - over and above the losses of an ordinary slowdown - at $650bn in output and $230bn in fiscal outlays. The tab is still running, since the economy remains far off track.
Resolution Deal is Near, But How Effective Will it Be?, American Banker (March 22, 2010)
"It's going to be tough for a couple of judges when the secretary of the Treasury tells them, 'I just got off the phone with the president. We think this company is going to nuke the economy, and if you stop us we are going to talk about you in the State of the Union,' " said Phil Swagel, a professor at Georgetown University and a former Treasury assistant secretary for economic policy in the Bush administration. "It's a speed bump. It's not totally window dressing, because it does force the executive branch to write down its arguments."
Fmr. AARP Chief Praises SUNY System, Legislative Gazette.com (March 22, 2010)
Urging State University of New York leaders to "think big" in their strategic planning process, William Novelli, also cited SUNY for the role it is playing in advancing geriatric health care. Novelli, a distinguished professor from the McDonough School of Business at Georgetown University and former CEO of AARP, was the keynote speaker last Thursday at the last of eight statewide "conversations" SUNY Chancellor Nancy L. Zimpher has conducted around the state.
Meet G'Town Student Body President Calen Angert, Washington Post Campus Overload Blog (March 19, 2010)
An interview with MSB student Calen Angert.
Corporate Responsibility and Profitability Can Coexist, Says Business Leaders, The Hoya (March 19, 2010)
Ted Leonsis, former AOL vice president and owner of the Washington Capitals, recently published a book titled “The Business of Happiness,” in which he revealed that one of his secrets to business success is happiness. Instead of taking the standard route of throwing a launch party and book signing, he opted to hold a panel discussion with other successful entrepreneurs in the Rafik B. Hariri Building Monday evening.
'March Madness' Impact on Workplace Productivity, Global National (March 18, 2010)
An interview with professor Brooks Holtom (starts 20 minutes into broadcast).
Dodd's Chief Counsel Bought Financial Stocks During 2008 Crisis, Bloomberg/BusinessWeek (March 18, 2010)
John Hasnas, who teaches ethics as an associate professor at Georgetown University's McDonough School of Business in Washington, said that while her actions may not look good politically, “the fact that it may appear unethical to others doesn't mean what you did was wrong.”
Reading this Column Will Cost you Money, SmartMoney (March 18, 2010)
The federal government printed record amounts of money to stave off an economic collapse over the past 18 months, and printing money is inherently inflationary, says James Angel, associate professor of finance at Georgetown University's McDonough School of Business.
Brace for Double- or Event Triple-Dip Recession, The Examiner (March 18, 2010)
A letter to the editor from John Caslione, an adjunct professor at Georgetown's McDonough School of Business.
An Interview With Bill Novelli, The Nonprofit Times - online (March 3, 2010)
The Nonprofit Times interviewed professor Bill Novelli about leadership at a recent Social Capital conference, where he delivered remarks.
Asset Allocation: The Key to Building a Big Nest Egg, Forbes (March 16, 2010)
"The most common misconception about asset allocation is that it's a function of your age," says William Droms, a finance professor at Georgetown University and partner in Droms Srauss Advisors. "It's a function of your circumstances and particular situation."
Ted Leonsis and "The Business of Happiness," New York Social Diary (March 16, 2010)
Some people celebrate the publication of a new book with a party. For AOL “chairman emeritus,” Washington Capitals owner and filmmaker Ted Leonsis, author of The Business of Happiness, the celebration was a university panel discussion about, well, business. (Scroll to the bottom of the link to read the full story)
Academics Say Maker-Taker Pricing Distorts Markets, Traders Magazine Online News (March 16, 2010)
Authors of the study include Larry Harris, a professor of finance and business economics at USC, and a former chief economist at the SEC; James Angel, an associate professor at Georgetown University; and Chester Spatt, director at the Center for Financial Markets at Carnegie Mellon University. Spatt is also a former SEC chief economist.
Overhaul Bill Leaves Fed with Even More Power, NPR (March 15, 2010)
"It's going to be awkward for members of Congress, after bashing the Fed, to turn around and give it more power," says Phillip Swagel, a former Bush Treasury official now teaching at Georgetown University.
Stocks Rise Under Obama, Bloomberg News (March 14, 2010)
“They could have done a better job, but their economic policies, including the stimulus, have helped move the economy in the right direction,” said Swagel, now an economics professor at Georgetown University’s McDonough School of Business.
Valukas Smoothes Way to Legal Action, Financial Times (March, 13, 2010)
“With a report as damning as this report sounds, I would completely expect people like the AG [attorney-general] for the state of New York, the SEC, to be looking at this,” said James Angel, a finance professor for Georgetown University. “Do we need to take an enforcement action here?’”
Retail Sales Growth Supporting Economic Recovery, PR Newswire (March 12, 2010)
"Strong retail sales in February suggest that American families finally see the U.S. economy getting back on its feet," said Phillip Swagel, visiting professor at Georgetown University's McDonough School of Business and RILA outside economist. "The next step in the recovery is a job market rebound that will sustain consumer spending and in turn spur business investment. Prospects in the labor market are improving, but would be helped if employers had more clarity on the policy environment they will face with health costs, taxes, and regulation."
College Is Worth the Cost, BusinessWeek Debate Room (March 11, 2010)
Professor Brooks Holtom argues that the benefits of earning a bachelor's degree far outweigh the costs of tuition.
Traders Piqued by the Picosecond, but Physics Intervenes, The Wall Street Journal and Dow Jones (March 10, 2010)
"The danger comes in because whenever you put in sanity checks--where you put in a filter that says, ‘do I really want to do this?’ – that adds to the latency in your system," said James Angel, a finance professor at Georgetown University’s McDonough School of Business.
Budget Bonanza, CNBC (March 10, 2010)
Parsing the monthly budget statement, with Phillip Swagel, a professor at Georgetown; Lou O'Brien, of the DRW Trading Group; CNBC's Steve Liesman.
Obama Defies Pessimists as Rising Economy Converges with Stocks, BusinessWeek (March 10, 2010)
Phill Swagel, who was assistant Treasury secretary for economic policy in George W. Bush’s administration, considers himself a critic of Obama, though he said the White House policies were crucial. “They could have done a better job, but their economic policies, including the stimulus, have helped move the economy in the right direction,” said Swagel, now an economics professor at Georgetown University’s McDonough School of Business.
Georgetown University's New Business School Building Wins Craftsmanship Awards, Architect's Guide to Glass & Metal (March 9, 2010)
The Washington Building Congress announced that the Whiting-Turner Contracting Company will receive Craftsmanship Awards for its work on the Georgetown University McDonough School of Business Rafik B. Hariri Building.
Dendreon Stock Mauling Probed by Regulators, Reuters (March 9, 2010)
James Angel, a professor at Georgetown University's McDonough School of Business, previously told Reuters that high-frequency trading programs may have exacerbated the plunge when the algorithms these trading firms use all glommed onto the same trend.
The Soundtrack to My First Semester, BusinessWeek (March 8, 2010)
An article by MBA student Rusmir Music:
A first semester in business school is probably best summed up through some sort of interpretive dance.Refusing to be confined to words only, I am supplementing this entry with music."My B-school Playlist" is a song collection recapping my first semester.
Extension of Benefits Draws Unemployment into Political Spotlight, The Washington Post (March 9, 2010)
Phillip Swagel, a former Treasury Department official who is now a business professor at Georgetown University, said that some people might take longer to find a new job as a result of unemployment-insurance extensions, but that right now it's a needed benefit. "The reality is that it's hard to find a job even for people who really want one," he said.
Information: The Under-Used Resource in HR Management Match New-Hire Behavior with Company Style, Exchange Magazine (March 5, 2010)
Marketing consultants Michael Czinkota and Ilkka Ronkainen explain, “For 10 years, company officials visited Beijing and invited Chinese leaders to 3M headquarters in St. Paul, building contacts and trust along the way.” 3M values employees who can think long term, who can plod on creatively while complex transactions are under way.
Despite an Emerging Recovery, Economy Still Unable to Add Jobs, PR Newswire (March 5, 2010)
"Today's data show a job market that is stabilizing but has not yet broken out into a sustained expansion," said Phillip Swagel, visiting professor at Georgetown University's McDonough School of Business and RILA outside economist. "Severe winter storms in February held down hiring and obscured a firming employment picture, but the U.S. economy will still need a long stretch of strong growth to make up for the millions of jobs lost in this recession. Policy uncertainties especially continue to hang over employers and weigh down business investment and hiring."
Top Undergraduate Business Programs 2010, BusinessWeek (March 4, 2010)
BusinessWeek released its 2010 Undergraduate Program rankings yesterday, listing Georgetown's McDonough School of Business as the 23rd in the nation.
Rafik B. Hariri Building Wins Design Awards, The Hoya (March 2, 2010)
On March 26, the Whiting-Turner Contracting Company will receive Craftsmanship Awards for its work on the Rafik B. Hariri Building from the Washington Building Congress.
Fed Faces Tough Task Replacing 'Absolute Rock', Financial Times (March 2, 2010)
He's [Mr Kohn] hard to replace," said Phillip Swagel, a senior Treasury official during George W. Bush's administration, now at Georgetown University's business school. "He's the quintessential straightforward, pragmatic, monetary policymaker."
February 2010
Dubai Chamber, Georgetown University Explore Post Crisis GCC, Eye of Dubai (Feb. 28, 2010)
The Forum was also attended by 47 IEMBA students of the Mcdonough School of Business at Georgetown University Washington DC as part of their Dubai Residency course, representatives from several foreign business councils, Dubai Chamber members, and project leaders from the client companies for the University consulting projects.
Panel Revisits Financial Meltdown, Marketplace (Feb. 26, 2010)
Warner: Right, and it was to figure out not just what led to the crisis on Wall Street, but why, and who's accountable for all the risky instruments that took the market down. I spoke to James Angel from Georgetown University:
James Angel: It's not just the complexity of the instruments, it was the complacency of everyone thinking that somebody else had figured out the risk was low.
SEC Disappointing Goldman Sachs Amid Vote on Short-Sale Curb, Bloomberg/BusinessWeek (Feb. 24, 2010)
“Nobody is going to be happy,” said James Angel, a finance professor at Georgetown University in Washington who has served as an adviser to stock exchanges. “The benefit of this new rule is that it provides political cover to the SEC so they can say they did something.”
Brokerage Prices Don't Reflect Actual Trading Costs, Study Says, Bloomberg/BusinessWeek (Feb. 24, 2010)
“Make-or-take pricing has significantly distorted trading,” wrote James Angel of Georgetown University in Washington, Lawrence Harris of the University of Southern California in Los Angeles and Chester Spatt of Carnegie Mellon University in Pittsburgh. “Brokers make most order-routing decisions based on the quoted prices that their clients will receive, and not the true net prices of the trades.”
New Study Examines Recent Changes to U.S. Market Structure and the Impact on Investors, PR Newswire (Feb. 23, 2010)
The study, commissioned by Knight Capital Group and authored by professors James Angel of Georgetown University, Larry Harris of the University of Southern California, and Chester Spatt of Carnegie Mellon University, shows how innovative trading systems such as dark pools, flash orders, and indications of interest (IOIs) have benefitted all investors and ultimately enhanced the capital formation process.
Winning with "No," The Washington Post "On Leadership" (Feb. 23, 2010)
Dean Daly responds to a question about whether Republican leaders should support the health care plan that is being presented at this week's health care summit as part of The Washington Post's "On Leadership" panel.
Populist Push Could Get Lost in the Details, CQ Weekly - Subscription Only (Feb. 22, 2010)
And certainly no new agency could boast greater knowledge, even if it were, in effect, made up of people peeled off from the Fed, which is the likely practical outcome of such a course. “There is no option,” said Phillip Swagel, a Treasury Department official in the administration of President George W. Bush who is now at the Georgetown University business school.
Mixed Blessing: Credit Card Reform May Shock Some, The New York Times (AP) (Feb. 21, 2010)
''Some of the more vulnerable parts of the population are a little bit more protected,'' said Georgetown University finance professor James Angel. But he predicts card companies will find ways around most of the new restrictions. And once the economy recovers, he expects the lending spigot to open again.
IMF to Start Sales of 191.3 Tonnes of Gold Soon, Reuters (Feb. 18, 2010)
Phillip Swagel, economics professor at McDonough School of Business at Georgetown University in Washington, said IMF gold stockpiles were not generating any income and the gold sales was one way of diversifying its assets . "I don't think it signifies a change in the status of gold in the world economy. It is more to do with a change in the role of the IMF in the world economy," he added.
A Year Later, Reality Sets in on Housing, Associated Press (Feb. 17, 2010)
"President Obama is finding that, well, it actually is pretty hard" to fix the foreclosure mess, said Phillip Swagel, a Treasury official under President George W. Bush. "It's very easy to say 'you need to do more.' But it's very difficult to find something that is more - and can be done."
Tapar un aguejero, CNN en Espanol (Feb. 17, 2010)
Professor Jose Luis Guerrero Cusumano was interviewed on CNN en Espanol.
Liberals Continue to Push for Financial Transaction Tax, Market Watch (Feb. 16, 2010)
However, Georgetown University Professor James Angel argues that high-frequency investors would be discouraged from conducting trades if a financial transaction tax were imposed, raising investor costs. He argues that these traders improve market efficiency and reduce costs for all investors by slicing away the spread price between what a buyer is willing to pay and a seller is willing to sell for. "The bid-ask spread is a major transaction cost that has gone down significantly, in part, because of high-frequency traders and that helps all investors," Angel said.
Retail Sales Improve, Still Room to Grow, Forbes (Feb. 12, 2010)
Phillip Swagel, an outside economist for the Retail Industry Leaders Association, echoed Cohen's view. "We are still in the early part of the economic recovery," he said, "and sustained economic growth is needed to drive a job market rebound" that will give consumers the confidence to spend and drive up sales numbers.
When Partners Attack, The Economist (Feb. 11, 2010)
Marc Busch of Georgetown University in Washington, DC, says that China has moved from “learning by watching”, where it mainly observed others’ trade tussles, to being an active participant in formal dispute settlement.
'Too Big to Fail' Proves Difficult to Destroy, American Banker (Feb. 10, 2010)
"I just think it's too hard to know if a firm is risky and needs to be broken up," said Phil Swagel, a professor at Georgetown University and a former Treasury assistant secretary for economic policy in the Bush administration. "I just don't see it being a realistic tool because I think, when push comes to shove, regulators won't use it in the time that matters."
Thain Faces Headwinds in Effort to Transform CIT, American Banker (Feb. 9, 2010)
"I think most regulators realize that CIT does fill an important role in the economy, especially with the president focusing on small businesses," said James Angel, an associate professor in the McDonough School of Business at Georgetown University.
Big Book of Marketing Interview with Editor Banthony Bennett, Business901 (Feb. 8, 2010)
I had the pleasure of interviewing Anthony Bennet editor of the new book, THE BIG BOOK OF MARKETING released in January 2010 by McGraw-Hill on the Business901 Podcast. Anthony G. Bennett (Washington, D.C.) has worked in marketing for over 22 years, and now teaches marketing at Georgetown University.
Could Small-Business Lending Blitz Backfire?, American Banker (Feb. 5, 2010)
"One reason we got into the housing crisis was lending standards slipped," said Phillip Swagel, a former assistant Treasury secretary in the Bush administration. "I would just worry the government is encouraging" small-business "lenders to lower lending standards."
Retail Industry Job Gains Lead January Jobs Report, PR Newswire (Feb. 5, 2010)
"Today's data show that the labor market continues to lag behind the broader economic recovery," said Phillip Swagel, visiting professor at Georgetown University's McDonough School of Business and RILA outside economist. "Family spending and business investment have begun to increase, but firms are hesitating to take on new workers. Policymakers could help further the labor market recovery by providing more certainty about the environment that job creators face in terms of taxes, healthcare, energy, and regulation."
MBA Program Rankings Reflect MSB Growth, The Hoya (Feb. 5, 2010)
The McDonough School of Business rose two spots in the 2010 Global MBA rankings published by The Financial Times this January, moving from 40th place to 38th place, primarily in response to improvements in research and placement success.
Promoting Positive Business Practices, Washington Business Tonight (Feb. 3, 2010)
Seniors Arthur Woods and Neil Shah appeared on the television program to talk about Compass Partners and the Compass Fellowship.
Water War: Anti-trust Expert Testifies for Fairfax Water, Fall Church Times (Feb. 3, 2010)
Dr. Mayo, a professor at the McDonough School of Business at Georgetown University, was still on the witness stand at the end of today’s session. His expert report, which served as the basis for much of his testimony, is available here.
Chinese Cities Growing Fast, The China Business Network (Feb. 3, 2010)
An interview with alumnus Ryan Botjer.
Dour Forecast Underpins Budget Plan, The Washington Post (Feb. 2, 2010)
"Their forecast seems pretty reasonable," said Phillip Swagel, a Bush administration official who is now a visiting professor at Georgetown's business school. "I actually think we'll see unemployment come down more in 2010 than they're projecting. Their GDP numbers make sense."
6 Emerging Technologies That Will Impact College Campuses, Converge Magazine (Feb. 2, 2010)
At Georgetown University, the administration texts short messages to students, and professors use screen recording software to create podcasts of their lectures that can be downloaded onto mobile phones, said Betsy Page Sigman, a professor who teaches management information systems, databases and electronic commerce at the university's McDonough School of Business.
Housing Red Flags Ignored, Fox Business Blog (Feb. 2, 2010)
In a report on what was happening behind the scenes, they considered "sudden crises such as terror attacks, natural disasters," says Phillip Swagel, former Assistant Secretary for Economic Policy in the Treasury Department, "or massive power blackouts..market-driven events such as the failure of a major financial institution..a large sovereign government default..huge losses at hedge funds, energy price shocks; ..corporate bankruptcies..or a large and disorderly movement in the exchange value of the dollar," Swagel notes.
Government May Put the Financial Industry at Risk, Roll Call (Feb. 1, 2010)
An opinion article by professors Michael Czinkota and Charles Skuba:
In the coming weeks we can expect the halls of Congress to echo with cries of outrage as banks announce their bonuses for 2009 performance. Abroad, Alistair Darling, the United Kingdom’s finance minister, already revealed a 50 percent “supertax” on all U.K. bank bonuses more than 25,000 pounds (about $40,000). France has announced that it will enact a similar tax.
The Punishment of Banks: To Whose Benefit? Today's Zaman (Turkish newspaper) (Feb. 1, 2010)
An opinion article by professors Michael Czinkota and Charles Skuba:
Large banks are under siege by governments. There are widespread cries of outrage as banks announce their bonuses for 2009 performance.
January 2010
Obama and the State of the Markets, SmartMoney (Jan. 28, 2010)
It’s also too late for investors trying to trade on some of Obama’s proposed policies, says John Mayo, professor of economics, business and public policy at Georgetown University’s McDonough School of Business.
Georgetown U. Business Reference Librarian Honored with RUSA Award, RUSA Blog (Jan. 2010)
Jennifer Boettcher, business reference librarian at Georgetown University, has been selected as the 2010 recipient of the Gale Cengage Learning Award for Excellence in Business Librarianship, an honor sponsored by Gale Cengage Learning and administered by the Reference and User Services Association (RUSA). (Jennifer also holds an MBA from Georgetown.)
"The Collection, to be Successful, Must be Simple," El Diario de Hoy (Jan. 27, 2010)
(As translated from Spanish to English by Google)
Daboub spoke yesterday to students and academics from the School of Business at Georgetown University in the U.S. capital, where he then spoke in an exclusive interview with El Diario de Hoy.
Ask the Experts: MBA 2010, The Financial Times (Jan. 27, 2010)
Dean George Daly responds to questions as part of an online panel discussion about the MBA degree.
Penthouse Publisher FriendFinder Tests Slumping U.S. IPO Market, Bloomberg/BusinessWeek (Jan. 27, 2010)
“When you have an underwriter that doesn’t have a recognizable name, that’s a problem,” said Reena Aggarwal, a finance professor at Georgetown University in Washington who has studied IPOs for 20 years. “If there are investors who feel this will provide them life support and they will be able to grow from here, they might be able to pull off the IPO.”
More Homeowners Choose to Walk Away, NBC Nightly News (Jan. 26, 2010)
Professor George Brenkert is interviewed for the story.
Getting it Right, The Ripon Forum (Jan. 26, 2010)
An opinion article by Professor Phillip Swagel about financial reform.
More than a year after the financial system nearly collapsed, the administration’s lurch into populist rhetoric has put the already-stalled effort for regulatory reform into reverse gear.
Obama Bank Reform Agenda to Dominate in Davos, The Globe and Mail (Jan. 26, 2010)
Philip Swagel, a former U.S. Treasury Department official who teaches at Georgetown University in Washington, said G7 officials would be wise not to worry too much about whether Mr. Obama's boldest proposals will see the light of day, let alone fret about the U.S. gaining - or even seeking - enough global support that other countries end up having to replicate the measures. "It's not that they're dead on arrival, they were never intended to be initiatives to push forward in the international agenda," Mr. Swagel said in an interview. "They were aimed at domestic consumption, signaling to the American people that the President is as mad as they are."
The MBA Triatholon, BusinessWeek (Jan. 25, 2010)
An article written by Rusmir Musić, MBA '11, about navigating the business school application process.
Catholic Business Schools in Top 100, National Catholic Reporter (Jan. 25, 2010)
The Financial Times of London has released its 12th annual ranking of business schools in Europe and the United States. To be eligible, the schools must be part of an accredited university, with full-time Masters of Business Administration degrees. The London Business School is ranked No. 1. On the Catholic front, Georgetown University comes in No. 38, Boston College No. 47, Notre Dame No. 71, and University College Dublin No. 98.
Financial Times Global MBA Rankings (Jan. 25, 2010)
This year, Georgetown's McDonough School of Business advanced two places to No. 38 in the Global MBA Rankings and one place to No. 3 as a "top school for international business."
See the top schools by subject here.
Snyder to Become Dean of Yale, Financial Times (Jan. 21, 2010)
The Yale appointment will make him one of the few deans to hold three deanships - George Daly, now at the McDonough school at Georgetown University, is perhaps the other most notable serial dean in the US - he was previously dean at NYU Stern and the College of Business Administration at the University of Iowa.
The U.S. Dollar Rally: What Investors Should be Watching, BusinessWeek (Jan. 20, 2010)
"You want to look at where the economic growth is going to be in the next five to 10 years," says Georgetown University finance professor Reena Aggarwal. "You want to make sure you have exposure to those parts of the world."
Change Management, Information at Work blog - part of Infonomics Magazine (Jan. 19, 2010)
I recently had the great pleasure of speaking with Maria Darby, Senior VP at Booz Allen Hamilton and Dr. Brooks Holtom, Associate Professor at Georgetown's McDonough School of Business. Their institutions are teaming up and launching an interesting program around creating a career path for change management.
Bright Triumphs from Dark Hours: Turning Adversity into Success, ForeWord Reviews (January 2010)
A review of the most recent book by adjunct professor David Heenan.
Will bonus backlash pay for investors? CNNMoney.com/Fortune (Jan. 15, 2010)
"There will be a lot more deferred compensation and some more stock-based pay, but I'm not optimistic about the long-term impact," said James Wade, a professor of strategy at Georgetown University's McDonough business school. "We are going to keep seeing creative justifications for high levels of compensation."
This article also appeared in Fortune's China edition:
http://www.fortunechina.com/investing/content/2010-01/19/content_29736.htm
Morgan Stanley-Handled IPOs Beating Competitors in Equity Deals, BusinessWeek/Bloomberg (Jan. 15, 2010)
Being the first bank listed on the prospectus, or the so- called lead left, typically means that firm is the underwriter that “runs the show,” according to Reena Aggarwal, a finance professor at Georgetown University in Washington.
Separating Investment Banks Will Note Make Us Safer, Financial Times (Jan. 14, 2010)
An opinion article by Marc Lackritz, an adjuct professor at Georgetown's McDonough School of Business:
While there is a legitimate question as to how much risk and dynamism we need to achieve reasonable economic growth while avoiding bubbles and extraordinary shocks, restoring an outmoded law is a cure in search of a diagnosis. Let us have more transparency, better oversight, less risky compensation and better consumer information and protection. But let's not go back to the future.
Retail Sales Flat in December Amid Continued High Unemployment, PR Newswire (Jan. 14, 2010)
"Today's retail sales data show that consumers are still waiting for an improved job market before they start spending," said Phillip Swagel, visiting professor at Georgetown University's McDonough School of Business and RILA outside economist. "Even with much better results for November, the downtick in December retail sales reflects the continued lack of confidence among American families in the strength of the economic recovery."
Wall Street Unhappy About 'Revenge Tax', The Globe and Mail (Jan. 12, 2010)
Phillip Swagel, a professor at Georgetown University in Washington and a former chief economist at the Treasury Department, said the deficit argument had merit, although not enough to outweigh the economic risks of putting further constraints on banks' profits.
'Hillary effect' cited for increase in female ambassadors to the U.S., The Washington Post (Jan. 11, 2010)
Cathy Tinsley, executive director of Georgetown University's Women's Leadership Initiative, said gender diversity at the top of any organization leads to better decisions. When all the decision-makers have a similar background and mind-set, they can "amplify the error."
Missouri will Tackle Stimulus Spending, The News-Press (Jan. 11, 2010)
Phillip Swagel, a professor at the Georgetown University McDonough School of Business in Washington, said he sees a second stimulus package being proposed later in the year, possibly with an emphasis on job creation.
Private Equity Firms Set to See Upside Trend in 2011, Emirates Business (Jan. 11, 2010)
An interview with alumnus Dr. Karim El Solh, Founder and Chief Executive of Gulf Capital.
Trading on the Jobs Report, SmartMoney (Jan. 7, 2010)
“If you’re a retail investor, by the time you get your trade in it’s all over — the guys at Goldman beat you to it,” says William Droms, a professor of finance at Georgetown University’s McDonough School of Business.
Former Time Warner CEO: Blame it on me, CNBC (Jan. 4, 2010)
Notorious deal maker Gerald Levin took responsibility for perhaps the worst merger in corporate history: the Time Warner/AOL deal. Jeffrey Sonnenfeld, a professor at Yale School of Management, and Phillip Swagel, a professor at Georgetown, share their insight.
Turn the Lights Out on the 'Aughts', The Baltimore Sun (Jan. 3, 2010)
The stock market, whether measured by the blue chip Dow Jones industrial average or the broader Standard & Poor's 500 index, was at a lower level on the last day of the year than it was a decade ago. That hasn't happened since the 1930s, the era of the Great Depression."The Zeros is such a good name for it. Good-bye to the Zeros and zero return on the S&P," says James Angel, an associate professor of finance at Georgetown University.
China Launches Ad Campaign to Improve Product Image, Voice of America News (Jan. 2, 2010)
But business professor Johny Johansson sees another message in this commercial. "It's so defensive - meaning don't blame us we're working with these big boys," he noted. "Made with other people means that if you blame us, you also blame the other people."
December 2009
Schapiro Whipsawed by Wall Street, Lawmakers, Defers SEC Rules, BusinessWeek (Dec. 30, 2009)
Her agenda has sometimes been driven by political pressure, said James Angel, a finance professor at Georgetown University in Washington who has served as an adviser to stock exchanges.
House Under Water: Walk Away?, The Wall Street Journal (Dec. 28, 2009)
A standard mortgage-loan document reads, "I promise to pay" the amount borrowed plus interest. And some say that promise should remain good even if it's no longer convenient. George Brenkert, a professor of business ethics at Georgetown University, says borrowers who can pay -- and weren't deceived by the lender about the nature of the loan -- have a moral responsibility to keep paying.
Do not swallow USA: "hook!" - Crazy instructions for use, ARD Media - Germany (Dec. 20, 2009)
Professor John Hasnas is interviewed about the thinking behind frivolous lawsuits and warning labels that seem to defy common sense.
The FDIC Is the Key to Bank Reform, BusinessWeek's Debate Room (Dec. 2009)
Professor Korok Ray argues that the Fed should not be gutted in this online debate.
Debtor's Dilemma: Pay the Mortgage or Walk Away, The Wall Street Journal (Dec. 17, 2009)
George Brenkert, a professor of business ethics at Georgetown University, says borrowers who can pay -- and weren't deceived by the lender about the nature of the loan -- have a moral responsibility to keep paying. It would be disastrous for the economy if Americans concluded they were free to walk away from such commitments, he says.
New Chief for Intellectual Property Exchange, CommodityOnline (Dec. 16, 2009)
Dr. James Angel, Ph.D., of Georgetown University, who specializes in the structure and regulation of financial markets around the world, observes the great similarities between the launch of CCX and IPXI. "Both CCX and IPXI are pioneers in building new markets bringing price discovery and efficiency to large untapped asset classes. Pannekoek's experience in building a new exchange from scratch makes him the perfect candidate for IPXI."
Vietnam Mayors Learn World-Class Urban Management, Bao Viet Nam (Dec. 15, 2009)
The program, the first of its kind in the country, provides a two-day training seminar for leaders of 35 cities in Vietnam along with presentations from leading local and foreign experts. Eminent lecturers including Professor John Thomas of the Kennedy School of Government, Harvard University; Professor Stanley Nollen of the McDonough School of Business, Georgetown University; Professor Robert Cervero of the School of City and Regional Planning, University of California at Berkeley; and David Grossman, Director of International Programs of the International City/County Management Association, will participate.
Baby Steps to a World Market, Porfolio.com (Dec. 15, 2009)
Andrew Sherman likes to think of himself as "cautiously optimistic" as he ponders what 2010 holds for entrepreneurs and business owners. And one bright, shining prospect for Americans willing to take the chance is potential global success, says Sherman—a partner at the Washington office of global law firm Jones Day, the author of 17 books, an adjunct professor in the MBA and Executive MBA programs at the University of Maryland, and an adjunct professor in the MBA program at Georgetown University. This week, Sherman shares some of his thoughts on globalization and its impact on small and mid-sized businesses as part of Portfolio.com’s ongoing series, The Great Global Business Adventure.
Retail Stocks: Picking 2010's Winners and Losers, BusinessWeek (Dec. 14, 2009)
"Retailers are not really getting good signals. They're not seeing a trend," says Georgetown University marketing professor Prashant Malaviya. Planning for the future is important for retail businesses that run on inventory. So the lack of a clear trend is probably alarming retailers, he says.
New Rules for Wall Street, The Diane Rehm Show/WAMU (Dec. 14, 2009)
The House takes up the biggest overhaul of laws covering banks and financial institutions since the New Deal. What the legislation for governing Wall Street means for consumers and the industry.
Guests: Michael Greenberger, professor, University of Maryland Law School; director, Center for Health and Homeland Security; and former senior regulator, Commodities Futures Trading Commission; Travis Plunkett, legislative director for the Consumer Federation of America; Phillip Swagel, a professor at the Georgetown University McDonough School of Business and former Assistant Treasury Secretary for Economic Policy (December 2006 - January 2009).
The End of Corruption?, Sri Lanka Guardian (Dec. 14, 2009)
An opinion article by Professor Michael Czinkota: There remains much work to be done, but over the last ten years the extent of corruption has been reduced on a global level.
Foreclosure Frenzy Dismays Aspiring Homeowners, The New York Times (Dec. 12. 2009)
“What would it look like if you didn’t have these investors?” asked James A. Angel, a business professor at Georgetown University. “The banks would be stuck holding properties. The losses to the banking system would be so much more if you didn’t have vultures.”
Financial Jargon Boiled Down: No One is Lending, NPR Morning Edition (Dec. 11, 2009)
NPR has some fun analyzing financial jargon from various sources, including Phillip Swagel.
Dems Seek to Raise Max National Debt by $1,8 Trillion, The Washington Examiner (Dec. 11, 2009)
"This is a really big increase," said Phillip Swagel, an economist at the American Enterprise Institute. House Democrats passed a $900 billion debt ceiling increase earlier this year, but it was never approved by the Senate.
Money Can't Buy Happiness, The Washington Post (Dec. 10, 2009)
"Tiger Woods has certainly profited from his fame, therefore I have little sympathy for the costs he simultaneously incurs from this notoriety," wrote Catherine H. Tinsley, associate professor at Georgetown University's business school and the executive director of the GU Women's Leadership Initiative.
Active Trader: Retracing Fibonacci's Steps, SmartMoney (Dec. 10, 2009)
The real question, though, is why some traders get transfixed on Fibnoacci. To a large degree, it’s a case of crowd psychology, says James Angel, associate professor of finance at Georgetown University’s McDonough School of Business. Traders pay attention to these ratios because they know their peers are paying attention to them, too.
Four Solutions to Sandefur's Problems, Cato Unbound (Dec. 9, 2009)
An essay by Associate Professor John Hasnas:
Timothy Sandefur has produced an interesting and thought provoking essay on Friedrich Hayek’s conception of spontaneous order. I have a slight quibble with his title, “Four Problems with Spontaneous Order,” however. On my reading, it appears that Sandefur is discussing two problems with spontaneous order and two problems with Hayek’s jurisprudential philosophy. In my judgment, Sandefur’s problems with the conception of spontaneous order are rather easily resolved. In contrast, Sandefur’s objections to Hayek’s jurisprudence are well-taken, but nevertheless are ultimately unimportant because Hayek’s basic jurisprudential approach can be salvaged from Hayek’s own errors.
Rep. Peterson is in thick of derivatives struggle, Minneapolis Star Tribune (Dec. 8, 2009)
"This affects everybody," said Jim Angel, a professor at Georgetown University who specializes in financial regulation. "And if there are disruptions in our agricultural markets, it causes real disruptions everywhere down the line."
Gift Guide 2009: Got Present Tensions?, Washington Post Express (Dec. 4, 2009)
Just whatever you do, advises Ron Goodstein, retail expert and marketing prof at Georgetown University, don't get caught up in slashed rates at big-box chains. "Do you really want to give your mother a toaster or a deep-fryer?" Consider a sad fact of holiday giving: At some department stores return rates are 50 percent.
Ask the Experts: MBA Applications 2009, The Financial Times (Dec. 2, 2009)
Are you thinking of applying for an MBA programme? Is it worth the expense? Where should you study? Should you apply for a one-year or a two-year degree? When should you start the applications process? What does the process involve?
On December 2, our panel of global experts, from three of the world’s top business schools, answered your questions. The panel were: David Simmons, deputy director of MBA programmes at Cranfield School of Management in the UK; Melissa Terrio, associate director of admissions at the McDonough School of Business at Georgetown University in Washington DC in the US; Chris Tsang, associate director of the MBA programme at Hong Kong University of Science and Technology, in Hong Kong.
November 2009
Fortune's Most Powerful Women Entrepreneurs 2009
Susan Wilson, BSBA '92, was listed as one of Fortune's Most Powerful Entrepreneurs in 2009.
On Success Blog, The Washington Post (November 2009)
View Professor Cathy Tinsley's blog postings about success on the Washington Post Web site.
Five Steps to Better Health Through Integrative Medicine, Ode Magazine (November 2009)
“It’s hard for Congress to engage in a comprehensive integrative health approach because the savings will only be visible many years later,” says William Novelli, a professor at Georgetown University’s McDonough School of Business and the former CEO of AARP, the consumer group for older people. “That’s an artificial barrier we need to cross.”
Dr. Phillip L. Swagel: Most Disadvantaged Get Two-Thirds of All Private Charitable Health Aid, Op-Ed in The Washington Examiner (Nov. 30, 2009)
Too many American families and communities are experiencing firsthand the hardships created by the difficult economic environment. Governments are cash-strapped from falling revenues just as they face an increased need the services they provide.
A World Awash in Debt, Globe Investor.com (from the Globe and Mail) (Nov. 28, 2009)
"The U.S. economy is not going to collapse because of the U.S. debt burden," said Phillip Swagel, a visiting professor at Washington-based Georgetown University's business school and a former chief economist at the Treasury Department. "It's a problem. It's just not an imminent problem."
Holiday Shopping, The NewsHour with Jim Lehrer (Nov. 27, 2009)
Features an interview with Professor Ronald Goodstein.
More on Dubai World, Marketplace Morning Report (Nov. 27, 2009)
Audio: Steve Chiotakis talks to finance professor James Angel at Georgetown University.
Retailers Prepare for Black Friday, Washington Business Journal (Nov. 26, 2009)
“There is no longer a holiday shopping ‘experience’ but instead people are taking less time in the malls, preparing lists in advance and shopping to the list, as well as asking people what they’d like to have for a gift,” said Ronald Goodstein, associate professor of marketing at Georgetown University’s McDonough School of Business.
EMBA?, Sina.com blog (Nov. 26, 2009)
The seeds of the programme were sown several years ago when the Georgetown dean was visiting Esade, says Paul Almeida, co-director of the programme and associate professor of strategy and international business at McDonough. The two schools began to question the value of what was taught on EMBA programmes. "We [business schools] assumed that MBA programmes that were ideal for 25 year olds were also ideal for 45 year olds," he says. "But [at 45] you are not training people to get a job in an investment bank."
Second Stimulus Needed?, CNBC (Nov. 25, 2009)
Discussing whether a second stimulus is needed, with Laura Tyson, Berkeley Haas School of Business and Phillip Swagel, Georgetown University.
10 Resolutions for Retirement Readiness, U.S. News & World Report (Nov. 24, 2009)
"The biggest mistake people make is bailing out when the market is doing badly and then buying back in when things pick up," says William Droms, a Georgetown University finance professor. "It's best not to make a precipitous change in your portfolio because of the crash of 2008." Traditionally, workers have gradually reduced their stock exposure as their desired retirement date approaches. "If you're really nervous about the market and you want to transition your portfolio to be more conservative, don't do it all at once," Droms advises. "Do it over a two-year period until you get where you want to go."
Black Friday on iPhone: There's an App for That, CNN Money (Nov. 24, 2009)
The popularity of such apps reflects a "significant change" in consumers' behavior, said Ronald Goodstein, a professor of marketing at Georgetown University's McDonough School of Business. "People are now targeting their purchase trips, they're not browsing like they used to," Goodstein said.
Black Friday Hysteria Revealed, Discovery News (Nov. 24, 2009)
Prashant Malaviya is interviewed about Black Friday: Black Friday is the biggest shopping day of the year. Anxious shoppers get up early, spend hours in lines, and fight crowds all for the best bargains. Kasey-Dee Gardner finds out the psychological motivation of Black Friday.
Black Friday: The Urge to Buy, Discovery News (Nov. 24, 2009)
Prashant Malaviya is interviewed about Black Friday: Black Friday 2009 may be different than others, as many consumers are experiencing a phenomenon known as "frugal fatigue."
Some Rediscover the Benefits of Business Travel, The New York Times (Nov. 23, 2009)
Brooks C. Holtom, associate professor of management at the McDonough School of Business at Georgetown University, said he was initially skeptical of the two reports. After reading both, Professor Holtom said that “deeper analysis would have benefited organizational decision makers since the return on investment varies substantially by type of travel and industry.”
Reform Handed Setback, American Banker (Nov. 23, 2009)
"The train is off the rails in reg reform," said Phillip Swagel, a professor at Georgetown University and former Treasury assistant secretary for economic policy.
World Leaders Turn Attention to Next Crisis: National Debts, Globe and Mail (Nov. 20, 2009)
“They have fiscal responsibility on the cover of the budget, but nothing inside the budget,” said Mr. Swagel, who is now a visiting professor in the business department at Georgetown University in Washington.
Zigzagging to Business School, BusinessWeek (Nov. 19, 2009)
I am not your typical MBA student. I chuckle thinking about the havoc I will wreak on the incoming class pie charts that the admissions office will prepare at the Georgetown McDonough School of Business, where I will start this fall. How will they categorize a gay Bosnian Muslim refugee, a former chemist who writes about sexuality in Islam while counseling college students?
Retail Apparel Prices Drop in Month, Up for Year, Women's Wear Daily (Nov. 19, 2009) (Subscription only)
“Inflation looks pretty benign, and then I look at apparel and it looks very benign,” said Philip Swagel, visiting professor at McDonough School of Business at Georgetown University and a former top economist for the Treasury Department.
Farewell to Wall St.'s Decade of Hubris, MSN Money (Nov. 18, 2009)
"That these guys thought that they could get away with fraud that large was the hubris," says James Angel, an associate professor of finance at Georgetown University's McDonough School of Business.
New College Grads and Where the Jobs Are, New York Times reporter Amy Zipkin's Blog (Nov. 18, 2009)
Recently I spoke to Elaine Romanelli, Mr. Chasen’s entrepreneur professor at Georgetown University’s McDonough School of Business. Dr. Romanelli’s research focuses on the characteristics of firms and regional industry environments that are likely to promote new business foundings.
Essays Expound Flaws of Net Neutrality, The Hill (Nov. 19, 2009)
By glancing at the authors, it's no surprise that the 14-essay pamphlet's thesis is that net neutrality regulations would ultimately be harmful for consumers and thwart innovation. The table of contents has familiar names: Randolph May (Free State Foundation), Wayne Leighton (Empiris), John Mayo (Georgetown University) and Hance Haney (Discovery Institute), to name just a few. You most likely already know their positions.
Low Interest Rates: Steroids for the Stock Rally?, BusinessWeek (Nov. 16, 2009)
Some warn that the dollar could be losing that special status, but for now there are few alternatives. Despite blows to the dollar, "there is no question that the dollar is the safe haven," says Georgetown University Finance Professor Reena Aggarwal.
Taxpayers on Hook as Some Bailed-Out Firms Prove Frail, The Washington Post (Nov. 16, 2009)
"We all hoped that all of the TARP investments would be good, and the taxpayers certainly have gotten a very strong return on many of those investments, but it's inevitable when you invest in hundreds of institutions, that some of them are going to go bad," said Phillip Swagel, who served as assistant Treasury secretary for economic policy until January. Swagel, who was a member of the five-person committee that vetted each application for bailout funding, said CIT had been approved on the merits of its application and not because it was deemed vital to the health of the financial system.
Broadband Investment and 100 Percent Adoption: Who Pays?, Roll Call (Nov. 16, 2009)
Reaching universal broadband may well depend in large part on who pays for that additional investment. One option is to raise the monthly fees of all broadband subscribers. But a new study we conducted with support from Georgetown University’s Center for Business and Public Policy found that this approach would make broadband too costly for many Americans, especially many of those with lower incomes who are not yet online, and so would delay universal broadband access.
Big Ideas in a Small Room, The New York Times (Nov. 14, 2009)
(Article about alumnus Michael Chasen and how his company, Blackboard, came to be.)
I found the college application process tedious and thought it would be easier if people could apply electronically. I worked on a business plan in my entrepreneurship class while getting my M.B.A. at Georgetown.
Venturing into new territory - capitalism with a conscience, The Guardian (UK) (Nov. 14, 2009)
(Article about alumna Michele Giddens.)
Veteran private equity tycoon Sir Ronald Cohen talks glowingly of the transforming power of entrepreneurialism, which, he argues, represents the best ladder out of poverty. Putting his theory into practice is Michele Giddens. Giddens runs Bridges Community Ventures, a venture capital firm she founded with Cohen, that invests either in businesses located in the poorest parts of Britain, or in enterprises with a social or environmental mission.
Jury Acquits Ex-Bear Stearns Hedge Fund Managers, Reuters (Nov. 11, 2009)
"It sends a strong message to prosecutors that they need to be able to prove their case. Just losing money in and of itself is not a crime," said Jim Angel, associate professor of finance at Georgetown University's McDonough School of Business.
Practicing What They Teach, Baseline Magazine (Nov. 10. 2009)
Georgetown University's McDonough School of Business (www.msb.georgetown.edu) doesn't just talk about the importance of green initiatives--it follows through with decisive actions. In fact, the Aspen Institute recently ranked MSB the 35th most socially responsible business school for "integrating social and environmental issues into their curriculum."
Trading's Wild West Cleans Up its Act - With Caveats, The Financial Post (Nov. 10, 2009)
"The Pink Sheets still has a whole realm of penny stocks that has always given the SEC problems," says James Angel, a professor at Georgetown University in Washington D.C. who specializes in the structure and regulation of financial markets around the world. "[In] a lot of little companies there are scams waiting to happen, so the SEC has a real enforcement nightmare."
By the Numbers, Business Schools Barely Care About Right and Wrong, The Chronicle of Higher Education (Nov. 8, 2009)
Article written by Professor Daniel Baer:
I certainly agree with those who suggest that the way we think, write, and teach about business ethics leaves room for improvement. But scholarship doesn't write itself, and pedagogy doesn't improve over the long run without a stable group of people-however small-who will invest their careers in expanding the frontiers of knowledge, and who will share that knowledge effectively with students.
MSB Ranked 35th Most Socially Responsible Business School by Aspen Institute, The Georgetown Voice (Nov. 4, 2009)
The Aspen Institute recently released its biannual “Beyond Grey Pinstripes” ranking of business schools that do the best job of integrating social and environmental issues into their curriculum, and Georgetown’s McDonough School of Business came in a very respectable 35th.
What we should be teaching kids that isn't found in heavy book bags, Shanghai Daily (Nov. 2, 2009)
The following article is co-authored by Professor Michael Czinkota:
We just concluded the fall school vacation. Between us two brothers, we have three children, 6, 7, and 10, with whom we spent the week in conversation, playing and thinking. Here are some of the issues that we considered, but are not sure that we solved:
Schwarzenegger Honored by Georgetown University, The Epoch Times (Nov. 1, 2009)
California Governor Arnold Schwarzenegger is respected for his business savvy in D.C. even with a democrat in the White House. Schwarzenegger spoke Oct. 29 at the McDonough School of Business at Georgetown University on the economic opportunities and environmental benefits offered by the development and use of green technologies. In the speech addressed to members of the Washington, D.C. business community at a dinner gala, the Republican governor voiced support for the Obama administration’s clean energy policies.
October 2009
The Terminator Keeps a Promise, WTOP News (Oct. 30, 2009)
WTOP's Man About Town reports on Arnold Schwarzenneger's visit to Georgetown's McDonough School of Business.
The Terminator Returns: Arnold Schwarzenegger Receives MSB Dean's Medal, The Georgetown Voice (Oct. 30, 2009)
“I’ll be back.” Two years ago, Arnold Schwarzenegger reiterated the famous phrase during a speech at Georgetown. Last night, he kept his promise. The California Governor offered influential words to a community of business leaders at a dinner event celebrating the new Rafik B. Hariri Building of the McDonough School of Business.
Schwarzenegger Accepts MSB Dean's Medal, The Hoya (Oct. 29, 2009)
In the highlight of a gala celebrating the opening of the Rafik B. Hariri Building, Gov. Arnold Schwarzenegger (R-Calif.) was awarded the Dean’s Medal by McDonough School of Business Dean George Daly last night in the MSB’s new home.
Is Treasury Getting too Bullish, Fox Business (Oct. 29, 2009)
Professor Phillip Swagel is interviewed following his testimony to the U.S. House of Representatives.
Fuzzy Areas in Financial Reform Bill, Forbes (Oct. 29, 2009)
Phillip Swagel, a professor at Georgetown and a former assistant Treasury secretary under Henry Paulson, said he does not think it is Geithner's intention to do this, but the legislation would allow it.
Rise of the Consumer, Marketing Management Magazine (Sept./Oct. 2009)
An article by professors Michael Czinkota and Charles Skuba.
Read a PDF of the article.
House to take on 'too big to fail', CNNMoney (Oct. 27, 2009)
"It's a very useful authority to have, to be able to tell debt holders, you're going to get 80 cents instead of 100 cents.....or turning an insolvent firm into a solvent firm," said Phillip Swagel, an economist and former assistant Treasury Secretary who teaches at Georgetown University. "But the potential for mischief is very high."
Democrats Seek Power Over Failing Companies, Financial Times (Oct. 26, 2009)
Phillip Swagel, assistant Treasury secretary in the Bush administration and a professor at Georgetown University, said on Sunday that Congress should not give the government the power to seize companies.
The Strong Case Against Raj Rajaratnam, Fortune/CNNMoney (Oct. 23, 2009)
"The recordings help prosecutors destroy the 'mosaic defense,' the most common defense against insider trading," says James Angel, a business professor at Georgetown University. "With the mosaic theory defendants try to say that by using lots of little bits of legal information and tips that fall into a gray area, they made investment decisions. It says no one intended to do anything wrong."
SmartMoney's 2009 Power 30: Government, SmartMoney (Oct. 19, 2009)
Bernake has to decide when and how to slow the economy before inflation returns. "Will he have the guts to put the brake on when the unemployment lines are painfully long?" asks James Angel, associate professor of finance at Georgetown University's business school.
EMBA Rankings 2009, Financial Times (Oct. 19, 2009)
The Financial Times has released its EMBA rankings, and Georgetown's McDonough School of Business is listed as 37th in the world and 14th in the United States. The school also ranks #1 for number of women students and #5 for career progress, and #5 for number of international resident students.
Dole Poses a Test for IPO Market, The Wall Street Journal (Oct. 19, 2009)
"They're an established company that has been around for a while and has great brand recognition. Those attributes are very important in this market. High growth with a very limited history is not what the market wants right now," said Reena Aggarwal, professor of finance at Georgetown University's McDonough School of Business.
G20 Supremacy, The Korea Times (Oct. 19, 2009)
Article by Professor Michael Czinkota
The G20 summit in Pittsburgh ended with a grandiose promotion of the event and its future relevance. The participants declared the meeting from now on to be the world's principal economic gathering. But designation alone is not enough. The real question is how the impact of the meeting will change.
Movers & Shakers, The Washington Times (Oct. 19, 2009)
Jeff Reid was named director of entrepreneurial studies and real estate initiatives at Georgetown University's McDonough School of Business. Mr. Reid previously served as executive director of the Center for Entrepreneurial Studies at the University of North Carolina at Chapel Hill.
Finding Opportunity in the Recession: Financial Literacy a Potential Mine for Start-Ups, U.S. News & World Report (Oct. 16, 2009)
Every wannabe entrepreneur wants to know: What businesses are recessionproof? Perhaps if you're asking the question, you're already too late. For first-time entrepreneur Reggie Gore, finding a recessionproof business idea wasn't a conscious decision. The 29-year-old graduate of Georgetown University's McDonough School of Business has a day job working in a management training program in San Francisco. But he hasn't forgotten his two main passions: economics and working with kids. Gore thought about combining these interests into a side business. The problem with the way kids learn economics today, as Gore sees it, is that it has not been made relevant to their lives. To Gore, the answer was a Web-based computer game that would allow players to explore a virtual world that would teach them personal-finance skills.
BusinessWeek Interview Elizabeth Griffith, Associate Dean for the MBA Evening Program (October 2009)
Which MBA?, The Economist (Oct. 15, 2009)
Georgetown's McDonough School of Business is ranked No. 48, up from No. 53 in 2006.
Las escuelas de negocios espanolas se lanzan al exterior, Expansion & Empleo (Oct. 13, 2009)
The following article (printed in Spanish but translated here in English) talks about Spanish business schools that are partnering with schools throughout the world:
More recently, ESADE Business School also has launched an international MBA, which has become the crown jewel of this school. Barely a month ago, the school graduated the first class of a program that has been baptized with the same name as the IESE, Global Executive MBA. This executive MBA is given by the McDonough School of Business, the business school of the prestigious Georgetown University (Washington), the oldest and largest Jesuit Catholic university of America.
But the international approach goes much further because their classes are held in no less than eight cities in three continents over a year: Washington and New York, United States, Barcelona and Madrid in Spain, Buenos Aires and Sao Paulo, Latin America, Moscow, Russia, and Bangalore, India.
Building for the Future, CEO Magazine (Fall 2009)
An interview with Gordon Swartz, associate dean for executive education programs at Georgetown's McDonough School of Business, is featured on pages 18-25 of the magazine.
Upturn Hints at Recovery, The Wall Street Journal (Oct. 12, 2009)
But Bradford Jensen, of Georgetown University and the Peterson Institute for International Economics, says protectionist measures haven't been "broad enough to really affect the trade numbers, but I think there's cause for concern about where we're going."
It's Noble to get a Nobel, The Korea Times (Oct. 11, 2009)
(Article by Michael Czinkota)
U.S. President Barack Obama received the Nobel Prize for Peace. Excellent! It is so nice to again receive happy telephone calls from abroad. The prize is seemly to the person but also to the country and demonstrates a renewed popularity. Liking the U.S. is cool again, particularly in Norway, the country from where the peace prize is awarded.
Mulling a Long-Term Drop in Homeownership Rate, American Banker (Oct. 8, 2009)
Phillip Swagel, who was an assistant secretary for economic policy in the Treasury Department from December 2006 through last January, said that the Obama administration is "not going to celebrate [homeownership] quite in the same way that" President George W. Bush did as a part of his conception of an "ownership society," "but I don't think they will 'go negative' on homeownership."
Is a 'Jobless Recovery' Not a Recovery Afterall?, NPR's To the Point (Oct. 7, 2009)
Healthcare reform and Afghanistan are getting the headlines, but President Obama's biggest challenge could be creating jobs. The US economy needs 100,000 new jobs every month just to keep up with growth in the population. Instead, more than 200,000 a month are disappearing. Despite talk about economic "recovery," unemployment's at 9.8 percent, the highest in more than 25 years. Full employment isn't likely again until 2017. We hear what it's like to get laid off and how hard is it to get re-hired. What happened to that economic stimulus money? What can the government do now? Instead of promoting a quick fix, should the focus be on new jobs with long-term usefulness to American society?
Guests: Sudeep Reddy: Economics Reporter, Wall Street Journal; Peter Goodman: National Economic Correspondent, New York Times; Ellen Hartnett: temporary employee; Bradford Jensen: Associate Professor of International Business and Economics, Georgetown University
Foundation Honors Nonprofit Execs for Visionary Leadership, PR Newswire (Oct. 5, 2009)
Kelly Sweeney McShane, executive director of Community of Hope, a Georgetown MBA who has used her business skills to improve the lives of homeless families, is a 2009 Meyer Foundation Exponent Award winner.
The G20 Supremacy: Fact or Wishful Thinking?, Stockholm News (Oct. 4, 2009)
(Article is written by Michael Czinkota)
The G20 meeting in Pittsburgh has ended with a grandiose promotion of the event and its future relevance. The participants declared the meeting from now on to be the world’s principal economic gathering. But designation alone is not enough. The real question is how the impact of the meeting will change.
Short Sellers Need Closer Monitoring: SEC Panel, IGNITES (Oct. 2, 2009)
Panelist James Angel, associate professor of finance at Georgetown University’s McDonough School of Business, acknowledged that increased transparency imposes a compliance burden on the industry as well as an enforcement burden on the SEC.
How to Prepare for Any Crisis, Black Enterprise Magazine (Oct. 2009)
Executive Master's in Leadership alumna Amber Hamilton and Assistant Dean of Executive Degree Programs Mary Anne Waikart are featured in the article.
September 2009
Inside the Consumer Comeback, CNBC (Sept. 30, 2009)
Discussing when consumer spending will pick up again, with Frits Van Paasschen, Starwood Hotels & Resorts CEO; Rob Katz, Vail Resorts CEO; Barney Harford, Orbitz Worldwide president & CEO; Philip Swagel, Georgetown University; and CNBC's Erin Burnett.
Three Short Hours Inside the SEC, and an International Bancshares Coroporation vs. Goldman Sachs Surprise, Market Rap (Sept. 30, 2009)
Georgetown University Professor James Angel pointed out that greater disclosure would essentially be doing legitimate short sellers a favor, by vindicating them in cases when they are incorrectly accused of manipulation in response to stocks dropping in value.
Is short-selling an unsavory practice? Marketplace (Sept. 30, 2009)
James Angel: Short-sellers make money when the stock price goes down. And there's this natural feeling that making money off the misfortunes of others is somehow bad.
SEC Probes Securities Lending, Markets Media Online (Sept. 29, 2009)
Short sellers have been blamed for causing precipitous declines in share prices and excess volatility. “Whether short selling is really to blame can only be answered by looking at the data,” James Angel, professor at Georgetown University's McDonough School of Business, told Markets Media Tuesday. “Additional disclosure would help enforce the reputation of the markets for integrity.”
For the Love of Money, BBC Documentary (Sept. 26, 2009)
Professor Phillip Swagel is featured in the series.
In the month that followed the bankruptcy of Lehman Brothers in September 2008, the world stared into the abyss of total financial collapse. The third part of the BBC’s definitive series on the crash tells the extraordinary story of how politicians reacted, and asks what has been learnt from the entire calamity. Could it happen again?
Officials Concerned about Disturbing Pattern in Domestic Terrorism, Fox News (Sept. 25, 2009)
Chris Voss, a former F.B.I. negotiator, said "It is in the vicinity of the anniversary of September 11th. It's also at the same time Ramadan was just over, so there are a variety of reasons that have heightened the fervor, if you will, of the people who would like to do these things."
(Chris Voss currently teaches business negotiation at Georgetown's McDonough School of Business.)
Georgetown University's School of Business: Traditional, Modern, and Energy-Efficient, AIArchitect (Sept. 25, 2009)
Georgetown University’s McDonough School of Business has opened its new 179,000-square-foot Rafik B. Hariri Building to house its school’s business education programs. The $82.5 million facility is located on the Georgetown University Washington, D.C., campus. Boston-based Goody Clancy’s design blends traditional stone work with steel and glass.
Tarp's Toll Expected to be Felt for Years, American Banker (Sept. 22, 2009)
"I understand the public uproar on the salaries and bonuses, but I think that will lead to some questioning of the role of the financial system in our society and our economy," said Phillip Swagel, who was a Treasury official when Tarp was created and is now a professor at Georgetown University. "If there is this implicit government backstop of the financial system, why are the salaries so high? They get the upside and we as taxpayers get the downside. I don't have the answer, but I think that's a legacy."
NASDAQ Weighs Third Stock Platform as BX Shows Growth, Wall Street Journal (Sept. 22, 2009)
James Angel, a finance professor at Georgetown University, said another exchange could let Nasdaq OMX experiment with different order types or focus on capturing a specific type of order flow. "The old days of one-size-fits-all are gone," he said. "Trying to appeal to a particular current in the stream is something that makes good business sense."
AARP Head Leaves with Regrets and Victories, Pittsburgh Post-Gazette (Sept. 21, 2009)
A vigorous exerciser embarking upon a new career on the Georgetown University faculty at age 68, Mr. Novelli sees America's perception of the oldest generation as positive overall, and he believes AARP has had a lot to do with that.
Negotiating expert wins fans with his ‘no’ strategy, The Columbus Dispatch (Sept. 20, 2009)
Camp, who has coached executives at hundreds of companies, will hold local workshops on Tuesday and Oct. 27. Voss, a consultant who also teaches business negotiations at Georgetown University in Washington, will be a featured speaker.
Euro Value, Forbes (Sept. 17, 2009)
William Droms, finance professor at Georgetown University's McDonough School of Business, says American investors should put 30% of their stock portfolios abroad in order to get the most out of diversification. Since Europe accounts for 48% of the $13 trillion combined market value of non-U.S. equities, a neutral starting point for a U.S. investor is to put 14% of an equity portfolio in Europe.
HuffPost Appoints New President and CRO, MediaBistro.com (Sept. 16, 2009)
Currently, Coleman is an adjunct professor at The McDonough School of Business at Georgetown University, his alma mater, and sits on the board of the Advertising Council, where he formerly held the post of chairman.
Business School Building Debuts at Georgetown U., Washington Business Journal (Sept. 11, 2009)
For the first time in its 52-year history, Georgetown University’s entire business school is housed under one roof.
Georgetown Partners with Booz Allen Hamilton, Washington Business Journal (Sept. 11, 2009)
Georgetown University’s McDonough School of Business has partnered with Booz Allen Hamilton Inc. to create a customized program in change management.
Banking on Geithner, CNBC (Sept. 11, 2009)
Insight on Timothy Geithner's view on the markets and economy, with Mark Zandi, Moody's Economy.com; James Bianco, Bianco Research; Phillip Swagel, Georgetown University; and CNBC's Erin Burnett.
Focus on Broadband Advancement Has Gradually Shifted, Says Authors, Broadband Census (Sept. 11, 2009)
Speaking at the event, John Mayo, a professor of economics, business and public policy at Georgetown University’s McDonough School of Business and contributing author, said that the focus on broadband advancement is a shift that has happened before.
Lehman Monday Morning Lesson Lost with Obama Regulator-in-Chief, Reuters (Sept. 11, 2009)
That bothers Philip L. Swagel, an assistant Treasury secretary under Paulson and now an economics professor at McDonough School of Business at Georgetown University in Washington. He said the White House isn’t doing much to convince investors -- or executives -- that the next bank to wobble won’t be propped up too. “Their answer is basically a permanent TARP,” Swagel said referring to the $700 billion Troubled Asset Relief Program.
Lessons from the Financial Meltdown, The Kojo Nnamdi Show (Sept. 10, 2009)
Last September, Wall Street investment bank Lehman Brothers collapsed, triggering the biggest banking crisis since the Great Depression. A credit crisis and financial market meltdown soon followed. One year later, we're certainly sadder, but are we any wiser? Kojo examines the lessons of the financial meltdown and explores how individuals are adjusting to the new economic reality.
Guests: James Angel, Associate Professor, McDonough School of Business, Georgetown University; Janet Bodnar, Editor, "Kiplinger's Personal Finance" magazine; and Chris Farrell, Economics Editor, Marketplace Money; Contributing Editor, Business Week
Georgetown Center for Business and Public Policy Announces Fellows for 2009-10, Reuters (Sept. 9, 2009)
"This year we have a truly impressive group that continues our ongoing efforts to expand our policy knowledge," said John Mayo, Executive Director of the GCBPP. "We are working to broaden our capabilities, incorporating a wider array of issue expertise into the program, in turn leading to a larger dialogue."
Sleep-At-Night-Money Lost in Lehman Lesson Missing $63 Billion, Bloomberg.com (Sept. 9, 2009)
“The general feeling was things were working,” said Phillip L. Swagel, Paulson’s assistant secretary for economic policy, who remained in Washington that weekend.
But the economists DIDN'T get everything wrong, TIME Magazine Blog (Sept. 4, 2009)
Among economists with actual influence on policy over the past year-Philip Swagel in the Paulson Treasury, Larry Summers and Christina Romer and Austan Goolsbee and etc. in the current White House-there's been a great willingness to experiment and accept that markets don't always deliver optimal results. The result: an economic recovery that seems to be gaining strength. So don't totally count the economists out.
John Stossel's Take, ABC News Blog (Sept. 8, 2009)
Last week, the Post claimed: economists generally agree that the package has played a significant part in stabilizing the economy. …Phillip Swagel, an assistant Treasury secretary in the Bush administration who is now a visiting professor at Georgetown's McDonough School of Business: "It's a gigantic amount of fiscal stimulus, and anyone who tells you it has had no impact, you should be skeptical of."
Government 'saved' the system, CNN Money (Sept. 7, 2009)
Phill Swagel: A former Treasury insider says that there was nothing else that government could do to help Lehman survive.
Stimulus Credited for Lifting Economy, But Worries about Unemployment Persist, The Washington Post (Sept. 4, 2009)
"It's starting to play a role, helping us to have slightly positive rather than slightly negative GDP growth," said Phillip Swagel, an assistant Treasury secretary in the Bush administration who is now a visiting professor at Georgetown's McDonough School of Business. "It's a gigantic amount of fiscal stimulus, and anyone who tells you it has had no impact, you should be skeptical of."
An Economic Celebration? CNBC (Sept. 4, 2009)
Discussing good news from the OECD, with Phillip Swagel, Georgetown University; David Min, Center for American Progress; and CNBC's Erin Burnett.
Toxic Assets Plan Poses Quandary for Investment Funds, Daily Journal (subscription only) (Sept. 2, 2009)
"There's a fear that if you get involved with TARP, you just don't know where that will end up - what kind of government involvement there will be," said Phillip L. Swagel, a visiting professor at Georgetown University who served as the assistant secretary for economic policy at the Treasury Department from 2006 to 2009. "Will you have to testify before Congress or be examined by the [TARP] special inspector general?"
A response by Visiting Professor Phillip Swagel:
A plan for Fannie and Freddie should distinguish between the appropriate roles for the private sector and the government, ensure that the benefits of government action go to homeowners rather than to the firms’ private shareholders and management, and remove the systemic risk created under the old GSE model. It is unrealistic to have no public role in housing finance—it is inevitable that the government will intervene to ensure that mortgages are available in the next crisis. It is thus better to have the government role explicit and fully transparent rather than implicit and obscured.
The $99 million Rafik B. Hariri Building, which opened earlier this year as the new home of Georgetown University's McDonough School of Business, has cleaned up at the Washington Business Congress Craftsmanship Awards. The building comprises 15 conference rooms, 15 classrooms, 34 breakout rooms, 11 interview rooms, a 400 seat auditorium, two lounges and 120 faculty offices. A glass atrium serves as the core new building. At the awards, the building was honoured for its slate and copper roofing, exterior stone masonry work and glass fibre reinforced gypsum panels.
August 2009
Overhanging this rapid-fire environment is the risk it could create a serious market meltdown by accident. HFT systems trade huge volumes at stunning speeds, and that's a recipe for potential disaster, believes James Angel, professor of finance at Georgetown University's McDonough School of Business. There's no way humans can screen for errors. "We have no real-time circuit breakers for our nanosecond market," he says. "Our markets are dangerously unprotected from when somebody's algorithm misfires."
Outside of the S&P 500, alluring discounts also may be found among small- and mid-cap companies, where market prices don't necessarily reflect a company's fundamentals as well as they do with better-known companies, says William Droms, finance professor at Georgetown University's McDonough School of Business. Here, active managers are often able to add more value than their large-cap peers. That's because information about small companies is less readily available, so original research pays off. The same goes for international and emerging-market stocks, says Droms.
