Thursday, September 28, 2006

U.S. homework outsourced as "e-tutoring" grows - Yahoo! News

U.S. homework outsourced as "e-tutoring" grows - Yahoo! News:
"Private tutors are a luxury many American families cannot afford, costing anywhere between $25 to $100 an hour. But California mother Denise Robison found one online for $2.50 an hour -- in India"


I signed up with something like this (for free) for the class. Let's see what happens. Stay tuned!

Wednesday, September 27, 2006

Quiz and Project for MBA 604

I will hand back the quiz but the project is not done yet...

Also be SURE to bring calculators tonight...

From Career services

Please remind your students of the following résumé-submission opportunities taking place now. Students need to drop off the necessary materials to the Career Center by the due date, in order to apply:
Wednesday, Sept. 27 -- THE BONADIO GROUP -- Accounting majors
Wednesday, Sept. 27 -- ASSOCIATED HEALTH CARE -- ALL majors
Thursday, Sept. 28 -- BUFFAMANTE, WHIPPLE, BUTTAFARO -- Accounting majors
Monday, Oct. 2 -- M&T BANK -- Accounting, Finance (with significant accounting coursework) majors
Tuesday, Oct. 3 -- MANNING & NAPIER -- Finance, Accounting, Economics majors
Wednesday, Oct. 4 -- CHILTON INVESTMENT -- Finance, Accounting, MBA majors
Additional details about these recruiting opportunities is available online at: http://www.sbu.edu/go/student-services/career-center/students/on-and-off-campus-recruiting/index.htm.
Also, anyone who did not attend an ON-CAMPUS RECRUITING ORIENTATION within the last year (F'05 - present) and is interested in participating in On-campus Recruiting this year, needs to attend one of the following 45-minute sessions taking place in the Career Center, room 216 RC:
WEDNESDAY, Sept. 27 -- 12:30 p.m.
THURSDAY, Sept. 28 -- 3:00 p.m.
(These are the last sessions being offered this semester!)
Please contact the Career Center, room 216 RC, x2384, if you have any questions

Tuesday, September 26, 2006

Quote of the week

"No one keeps up his enthusiasm automatically. Enthusiasm must be nourished with new actions, new aspirations, new efforts, new vision. Compare with yourself; set your teeth and dive into the job of breaking your own record. It is one's own fault if enthusiasm is gone. [S]He has failed to feed it."
Papyrus (as quoted in The Book of Positive Quotations by John Cook)

Some suggested problems for MBA 604

I was asked for some suggested problems.

Here you go:

from Chapter 4:

The Chapter review and self test problems (p 112)

I really like the concept review and critical thinking questions. These would be excellent to do in study groups! They demonstrate, among other things, that growing firms often have cash flow problems.

In Questions and Problems pay particular attention to
3,4,9-13,16,20,21, 22,

Want a real thought provoker? try #31.

hope these help!

Thursday, September 21, 2006

reminders

Just some fast reminders

1. No class or office hours today...I am just leaving for a meeting that will take the rest of the afternoon.

2. The Oreck speaker is at 7:00pm today AT JCC in downtown Olean

3. Don't forget the valuation videos

4. Tomorrow is the Deloitte information meeting. DEFINITELY PLAN ON GOING!

5. Need a great line item on your resume? Come to tomorrow's 11:45 BONARESPONDS leader meeting. It really is like running a business and you can make a huge difference.

WSJ.com - In the Lead

Another article that shows it is not the school you go to that matters as much as how hard you are willing to work!

WSJ.com - In the Lead:
"The college diplomas of the nation's top executives tell an intriguing story: Getting to the corner office has more to do with leadership talent and a drive for success than it does with having an undergraduate degree from a prestigious university.

Most CEOs of the biggest corporations didn't attend Ivy League or other highly selective colleges. They went to state universities, big and small, or to less-known private colleges."
And later:

"What counts most, CEOs say, is a person's capacity to seize opportunities. As students, they recall immersing themselves in their interests, becoming campus leaders and forging strong relationships with teachers...."
Thanks to Rich for pointing this article out to me!

Wednesday, September 20, 2006

Team work from the Buffalo News--Buffalo Bills example!

Yeah I know, this link has very little finance content at first glance, but I think it is relevant and besides, remember everything fits in finance. (And it has nothing to do with the fact that it is about the Buffalo Bills ;) )

Buffalo News - Bills buying family plan from Jauron:
"We were together. We had like a family,' Villarrial said. 'We didn't let anything separate us, we didn't let anything get in our way, and we just stayed focused. And that's what Marv [Levy] and Dick have brought to this team is that family togetherness. With a GM and a coach on the same page, it's nice. We win together, we lose together and no one's better than the other person....'

'It makes a big difference,' Villarrial said. 'If you're a family you don't want to let down your family member. When you mess up a play you get more mad at yourself and you make yourself better because you just felt like you let your whole family down. That's what he brings to it. It's kind of funny in a sense but it's true. '"
It is also my view of most things. Call it family, call it team, call it a class, call it whatever. I am constantly amazed how well it works (see for instance the success of BonaResponds, 2001 Bears, Twins in almost any year, even Handson). When people on a team come together: they try harder, they gain confidence (quit being afraid to speak out or take chances), and they cooperate.

Success then comes to everyone and not just a few select "super stars". These ingredients lead to a successful team or organization.

While it does sound stupid, that is the same attitude that can develop within a class. Think back to your best class (probably just happened, right :)). But seriously, everyone is paying attention, answering questions etc. It is not just a few top students. EVERYONE gets involved. This leads to everyone coming to class prepared (including the teacher) since no one wants to be the reason the class is slowed or held back).

The business world and the job market, like football, are very competitive places, but like in football, being part of a group (be it a study group, a class, or better the whole university) can bring out more from everyone and result in wins (more learning, better job placements, and oh yeah more fun) than if the class is full of students largely in isolation from each other.

So don't be afraid to speak out in class or be a bit creative in your projects. That is how you (and the rest of the team/class) will get better.

And by the end of the semester, you will be totally amazed at how much you learned and how suddenly finance makes more sense than you ever thought possible!

CollegeJournal | Find a Career Path

This is plus for the SBU sports minor if I have ever seen one! ROdney is scheduled to do the sports and Econ class in the spring. Definitely recommended!!

CollegeJournal | Find a Career Path:
"The NFL's finance chief used to work for Goldman Sachs. Its top two marketing executives were at General Motors and IBM. Its lead television negotiator ran sports for ABC and ESPN. The chief operating officer of its cable network handled finance for NBC's West Coast entertainment division. The head of its international division was a marketing executive for the liquor company Diageo....

If you're going to have these franchises that are worth north of a billion dollars, you're looking at it really as the business of entertainment, the business of intellectual property, the business of turnstiles," says Ms. James. "This is a very sophisticated time. It's not a back-slappy time." The booming supply of sports-related jobs extends well beyond the teams and leagues."

Deloitte coming to SBU this FRIDAY!

I know several people who have worked here and all but one loved it. Good opportunity.


INFORMATION SESSION: DELOITTE ERS (McLean, VA)
FRIDAY, SEPT. 22
12:30 - 1:30 P.M.
ROOM 211/213 REILLY CENTER
Alums employed with Deloitte Services LP, McLean, VA, will be on campus to share information about career opportunities with the company. Currently, they are accepting resumes for the following openings:
*INTERNAL AUDIT and ENTERPRISE RISK SERVICES -- Accounting, Finance, BIS, MBA, Math and Computer Science majors.

Internal Audit services include:
• Co-sourcing Specialized Services
• Design Strategic Plan
• Outsourcing
• Reengineering
• Strategic Assessment

ERS Consultant professional responsibilities:
• Establish working relationships with client personnel
• Review client accounting and operating procedures and systems of internal control
• Apply concepts of risk assessment
• Design and perform tests of internal controls
• Provide recommendations for improved controls and enhanced business efficiency
All eligible and interested students are encouraged to attend this presentation. *Please submit your resume to the Career Center, if you'd like to be considered for these positions.

Tuesday, September 19, 2006

Nike case for 604

I have had several questions regarding the Nike case.

So I will attempt to answer them:

Yes- the entire project is due.
Yes-you can work together in groups.
No-you do not need to forecast every line item. Use large groupings (ex. CA, TA, CL, TD, E)
Yes you very well may have different numbers than other groups.
One-every group only needs to turn in one case.
Industry analysis can be found from Yahoo or MSN or anywhere else. Just be sure to cite it.

Only other thing I remember answering is that you do not need to do every ratio but you should have AT LEAST ONE from each catergory...

hope this helps!

Axiom Valuation Solutions - Business Valuation Services for Owners & Advisors

Axiom Valuation Solutions - Business Valuation Services for Owners & Advisors

It looks VERY likely that I will have to miss class on Thursday. In lieu of class, I would like you to either

A. go to teh Oreck presentation at JCC at 7:00 PM
B. Watch this series of videos from Axiom Valuation

They will be testable.

Monday, September 18, 2006

Interviewing tips

Interviewing for Accounting & Finance Majors -- A Demonstration & Discussion
WEDNESDAY, SEPT. 20
5:00 - 6:00 p.m.
ROOM 211/213 REILLY CENTER
All students are invited to attend this program which will simulate a typical interview experience. Find out what to expect in an interview by watching an employer/student role-play of the situation. Ask questions and get advice from an alum who's a professional in the field. Please sign up in advance with the Career Center, if you plan to attend this program.
Please contact the Career Center, room 216 RC, x2384, if you have any questions.

two updates on things

1. The BonaResponds local service day went very very well! If you missed it, you really lost out! Stay tuned for next one! Here are some pictures.

2. I can not log on to my notebook computer so I can not upload the class audio. If anyone has any idea how I can unlock a locked computer, let me know :) thanks!

Saturday, September 16, 2006

IT's TODAY!!!!

Hope you can make it out! Even if it is late...we'll be working until 2:00 and then having a picnic. Come on out to Walsh High School!

St. Bonaventure University: BonaResponds plans countywide service day

St. Bonaventure University: BonaResponds plans countywide service day:
"ST. BONAVENTURE, N.Y., Sept. 11, 2006 — The BonaResponds team has scheduled an Allegany-Olean service day for Saturday, Sept. 16. This will be the group’s second local workday this month.

BonaResponds volunteers will be broken into small groups, along with other local service groups, and assigned throughout Cattaraugus County. Some sites include the village of Allegany, Allegheny River Valley Trail, the Cattaraugus County SPCA, St. Elizabeth Motherhouse, Olean Historical Society, Olean General Hospital, the St. Bonaventure University (SBU) campus and Mt. Irenaeus."
If you can come out to help or if you want to donate, just let me know! :)

Thursday, September 14, 2006

Need a laugh?

FRom the Onion

LeBron James Amazed At 21-Year-Old's Ability To Stay Up All Night Studying For Physics Exam | The Onion - America's Finest News Source:
"CLEVELAND—21-year-old LeBron James, who skipped college to make millions of dollars in the National Basketball Association, was amazed to find out that someone his very own age, Case Western Reserve University junior Michael Washington, had the ability to stay up all night studying"
Click though for more of story.

Wednesday, September 13, 2006

Clarification on Assignment for MBA 604

A few students have asked so...

since we did not get as far as I had hoped, only sections 1A and 1C will be due tonight.

The rest will be discussed and collected next week.

HOWEVER, I do want you to think about how to do the forecasting. There will be a discussion of it tonight.

Hope this helps!

What are you doing Saturday?

Build your resume, network, meet new friends, have fun, get in line for a scholarship for our future trips to the Gulf, oh and you will also be doing great work that will help the local community and make you feel much better!

Sounds like too much? Well, come out and find out!

THIS SATURDAY
(SEPT 16, 2006) BonaResponds will be meeting at 8:00 AM at
Archbishop Walsh (Behind Subway--turn at AJs/Friendly's).
Sign-in will be in the entrance area. Volunteers will then be directed into the gym where there will be tables set up for volunteers to "pack a lunch".

At about 8:15 we will have a brief "meeting" where we will explain the day. We are asking for people from each site to be at this meeting. We will then break into groups and go to the various work sites.

(Note if people show up late, we will still find places for them, but they will likely have no/little choice as to where they go).

Some of the sites include: St. Bonaventure University, Allegany River Trail, St. Elizabeth Motherhouse, the Village of Allegany, SBU, Trail creation on State Forest land, Olean Historical Society, Olean General Hospital, Allegany State Park, SPCA, and Mt. Ireanous.

Hopefully people will begin "rolling out" at about 8:30.

We want to have everyone back by 2:45 for a BBQ and "wrap-up"/reflection period--this will be very similar to Handson with each group reporting in on the work they did.



Great Quote!

"We should be taught not to wait for inspiration to start a thing. Action always generates inspiration. Inspiration seldom generates action---Frank Tibolt"

Monday, September 11, 2006

Answers left unaswered in class

Having listened to last week's classes (both 401 and 604) a few comments and answers:

The Dow Jones Industrial Average's divisior is .12

A list of NYSE specialist firms can be found here, the price of a NYSE seat can be found here.

Hope these help!

jim

Office hours on Monday

Office hours will be canceled this Monday (September 11th) because of the Finance Club trip to Rochester.

Sorry for any inconvience. Please email me any questions.

Thursday, September 07, 2006

From Career Services

From Career Services:
Attention Accounting & Finance Majors

Deadlines for resumé submissions for on-campus interview opportunities are quickly approaching. The following are some of the recruiters who will be coming, and the dates that resumes are due for internship and full-time positions :

PricewaterhouseCoopers : Friday, Sept. 8

Insero & Co. CPA's : Wednesday, Sept. 13

Ernst & Young : Thursday, Sept. 14

Deloitte & Touche : Friday, Sept. 15

Freed, Maxick & Battaglia : Tuesday, Sept. 19

DeJoy, Knauf & Blood : Wednesday, Sept. 20

Information about these companies and their application requirements are available on the Career Center's On-Campus Recruiting Page at: http://www.sbu.edu/go/student-services/career-center/students/on-and-off-campus-recruiting/index.htm

Also, the deadline for sign-ups to attend the Mengel, Metzger, Barr & Co.'s Open House has been extended to Monday, Sept. 11. Accounting juniors and seniors are encouraged to RSVP in the Career Center, room 216 Reilly Center, or to career@sbu.edu .

Wednesday, September 06, 2006

Does Ivy League Matter?

From the WSJ's College Journal:

Question: Does going to a very prestigious college really make a difference in landing a good first job, for example, on Wall Street?

Answer: You don't necessarily need a Rolls Royce to get you where you need to go.

There's nothing wrong with attending a prestigious school. But don't despair if you don't have a super-pricey diploma.

It's possible to get to Wall Street without an Ivy League degree. "More important than the school you attend are your grade-point average, extracurricular activities, as well as your interest in and knowledge about business," says Rachel Radway, managing editor of WetFeet.com, a San Francisco-based research and publishing company focused on careers and management.

Deutsche Bank recruiters, for example, visit more than 40 university campuses in the U.S., less than half considered "Ivy League," in search of candidates for its analyst program.

These universities are chosen based on academic reputation, their historic hiring relationship with the school, and degree disciplines, says Kris Peters, head of university recruiting at Deutsche Bank.

She adds that the bank's hiring criteria "is based entirely on the skills that we think lead to success in our businesses," among them educational background, as well as experiences that demonstrate leadership, work ethic and teamwork.

"As long as you've done well at a school with a decent reputation, you will be a good candidate," says Ms. Radway. She emphasizes the importance of references, summer internships and relevant coursework to gaining a foothold as an entry-level job candidate."

Tuesday, September 05, 2006

P/T Real Estate Opportunity

We do not have a real estate class at SBU, but here is an opportunity to work part time and get some real estate experience and to work flexible hours.

Oversee 4 apartments (2 duplexes). Rent, record rents, make sure rents are paid, clean up as necessary, etc.

Pay is 10% of collected rents.

Resume to jim

Monday, September 04, 2006

Class Codes for Clickers

PLEASE BE CAREFUL when adding yourself to the class. If you are wrong (i.e. you enter yourself in the wrong class) it is very difficult for you to change and you will have to do this through the kind people at einstruction.com.

So after being sure what class you are in, you go to einstuction.com and enter the following code (you go to St. Bonaventure University ;) )

  • Finance 401-01: Class Key: G23207B621
  • Finance 401-02: Class Key: H23208B338
  • MBA 604: Class Key: I23206B812
We will be having first quizzes this week, so please register as soon as possible. :)

Thanks!

jim