Week 10-Current events, Rights issues, Self registration

Notes from week 10

SBUSchoolofBusiness

New Videos of Rodney Paul and Carol Fischer are up.

SBUSchoolofBusiness Blog

Q&A with Alice Schroeder, biographer of financial master Warren Buffett

We used the SnowBall book in 402...this is an interview with the author...fascinating

Q&A with Alice Schroeder, biographer of financial master Warren Buffett:

"All of these books that say you can get rich by investing like Warren Buffett, it’s a bunch of baloney. You can’t do it. He’s not only brilliant, but he works like a demon from morning until night and he’s been doing that for 70 years. So, when you see him and you’re around him, you realize the futility of trying to replicate his achievement. It can’t be done. But, at the same time, he lifts your aspirations in many other areas, including being extremely good at whatever it is you are good at. He made me far more focused in my career"

More Capital Structure

Sorry, this had been on the podcast, but I never actually linked to it from the blog.

Intro to Capital Structure

This is an introduction to Capital Structure. It covers Modigliani and Miller and some on WACC from MBA 610.

Major field Exam for all 402 students

From Mary Jo Brockel

"Please remind your students in ACCT 420, BIS 420, FIN 402 and MKT 410 to sign up for the Major Field Exam as soon as possible. They can either call Jenifer Spencer at 375-2111 or stop by her office in Murphy Room 201. We only have about 10 signed up of the 134 students who should be taking this exam. Your help in getting them to sign up is greatly appreciated.

If you were unable to hand deliver any of the letters to students, please drop them off with Jenifer and we will mail them directly to the students.

I will be sending out my first reminder e-mail to the students on Thursday or Friday to the students who have not signed up.

The exam will be given on the following dates and times:

Sunday, March 29th 6:00 – 9:00 pm

Monday, March 30th 6:00 – 9:00 pm

Wednesday, April 1^st 6:00 – 9:00 pm

Thursday, April 2nd 6:00 – 9:00 pm

Sunday, April 5th 3:00 - 6:00 pm and 6:00 pm – 9:00 pm"

Insider trading

A fast look at insider trading from MBA 610

Jobs stuff

If you are in my class (or were in a previous semester) and want me to look over resume, just let me know. Not sure if I can help, but I guess can't hurt too much. Please get it to me this week or next.

Was speaking with a SBU alum last night who said I should mention Dallas as a relatively hot job market. He also agreed wholeheartedly, that looking at the SEC, the Fed, and other regulators makes much sense right now.

Personally, I am still looking for a part time (say 10 hours a week) person looking to earn some money, improve a resume, and learn some things. Ideally someone who is back next year, but I have reached a pretty desperate spot so will be open to others as well.

Update: SBU just sent the following link to their CareerFest.

Ben Stein's advice for those college students looking for work.

"Imagine you are an employer looking at your whole college class. Would you hire you? If not, make yourself better. You can be a rebel later. For now, do what you need to do to get a job."

David Campbell's presentation will be on the final

Could not get it uploaded in time (took almost 8 hours to do!). It will be tested on the final.

Help wanted

Ok, I am willing to pay.

Not sure the title: FinanceProfessor assistant? (instead of Assistant FinanceProfessor...lol)

Probably about 10 hours a week. If we push it hard and get a paper out of it, you might be able to get an independent study grade out of it too.

Either way, you will learn quite a bit and should look good on your resume.

Preferred traits:

1. Honest
2. Self-motivated (I will not be with you 99.9% of time)
3. Good writing skills
4. Good spreadsheet skills.
5. Some Website (html at minimum) skills
6. Access to transportation
   

Must be available for at least 10 hours the week of finals (before graduation when grades are due) and weeks leading up to BonaResponds local weekend (April 24-26).

Ideally someone who is coming back next semester. Ideally someone who will be here for the summer.

Office Hours

I am in desperate need of a fast internet connection to upload video and audio tomorrow...so that is definitely not in my office...

So office hours will be virtual tomorrow.

Student Expectations Seen as Causing Grade Disputes - NYTimes.com

mmm...no comment necessary

Student Expectations Seen as Causing Grade Disputes - NYTimes.com:

"I tell my classes that if they just do what they are supposed to do and meet the standard requirements, that they will earn a C,” he said. “That is the default grade. They see the default grade as an A.”

A recent study by researchers at the University of California, Irvine, found that a third of students surveyed said that they expected B’s just for attending lectures, and 40 percent said they deserved a B for completing the required reading."

Spoiled Rotten? - Careers - CFO.com

Just thought you might like to see what some employers are saying.

Today's Accounting Crop: Spoiled Rotten? - Careers - CFO.com:

"Enter the 'millennium generation' of finance and accounting professionals. Born in 1982 and later, they're high-maintenance types, requiring a great deal of hand-holding, mentoring, and immediate attention. Even after all that parental supervision, they can be incredibly fickle, choosing to stay at your company just until a better-paying, faster-growing offer comes along"

The article goes on to say how loyalty etc is gone and employees go to where they have a better offer. Which seemingly is a complain as old as business itself. But more than that, I do not even know why it is a complaint. For instance, firms will lay you off if they have down times, so taking a better offer should not be unexpected. Firms can not have it both ways. Corporate loyalty has to be earned.

Finance 402 Groups

Well that was more difficult than I thought....I tried hard to keep those who wanted to work together together but MUCH harder to keep those who did not want to work together, apart.

So the teams are:

(Team "no clue"): Team 1: Brian, Ryan, Kevin F, and Tori
(Team Park and Shop)Team 2: David, Brennan, Kevin E and Angelo
(Team BonaResponds) Team 3: Rob, Steve, Jed
(Team Friendship) Team 4: Mark, Bryan, Mike
(Team Car Ramrod)Team 5: Carl, Alex, Beth


Then using a random number generator:

On Tues (first mover advantage is that you are not held to quite as high of standard since you do not know what to expect)

• Team 5 will be the management of B&J and argue for social responsibility
• Team 2 will be the consultants (investment bankers) who want to maximize shareholder value (taking into account that they are REMMs and looking out for themselves as well)
  

On Thursday for the Nike Case (be sure to read Chapter 12: best practices as well)

• Team 1 will be the Nike Management: your job is to convince analysts that you are under valued
• Team 2 will be the analyst deciding whether Nike should be bought or sold

This week Team 4 will be have primary responsibility for having questions for each group.

Those groups not presenting on any given day will also be expected to have questions AND for using the rubric that was given in class to help grade the presentations skills of each group.

FinanceTestquestions » home

As promised, a place to submit and share suggested test questions....


FinanceTestquestions » home: "

This will be a place to allow finance students....to share test questions to help students prepare for tests. (As an aside, for my classes ... if you submit a question with your name and it is used on the test, you will get 2 percent added to your test."

It is pretty easy. You just click edit.

I just checked the class feedback page....

Not very much feedback. Remember I want to know what you think the three most important things you learned in class this week. So even if everything was crystal clear, be sure to take a few seconds and fill out the form. Thanks!

Speaker on Monday February 23rd.

In addition to the normal class, next week we have a great speaker coming to the University his material will be covered on tests, so you will want to either come or listen to his remarks online afterward.

It is David Campbell. He will be speaking at 12:30 and 1:30 in the Dresser Aud.

His first talk is aimed at the wider university audience (he will be talking about Business and Service) his 1:30 lecture will be aimed at a business audience (and this is what will be tested).

from his Bio on the About-Us page at HODR.org

"David Campbell has been a technology executive, board member, investment banker, and humanitarian field volunteer. He went to Thailand immediately after the tsunami, and became one of the founders of HandsOnThailand.org, which brought over 200 volunteers and several hundred thousand dollars to assist the rebuilding of five Phuket fishing villages.

After hurricane Katrina hit the Gulf Coast David joined with several other HandsOn volunteers to establish Hands On USA, and after one week on site the team had an operations center in Biloxi, MS, 50 volunteers committed and en route, and dozens of projects launched. In total over 1,500 volunteers helped HandsOnUSA serve the victims of Katrina.

In 2006 this volunteer response model became known as Hands On Disaster Response, and dealt with international events;
-an earthquake near Jogjakarta, Indonesia in summer, 2006
-the Fall typhoon, Durian, that caused extensive damage in the Philippines.
-in 2007 an expanded HODR responded to the Pisco, Peru earthquake. Over 550 volunteers from 30 different countries answered the call
-While Peru was still in full swing typhoon Sidr hit Bangladesh, and HODR operated simultaneous projects for the first time.
- Summer of 2008 saw a major assessment of the Sichuan, China earthquake, but a decision was made not to deploy due to lack of government approval for access. The extensive flooding occurring in the US Midwest led to a 4 month deployment... in Iowa.
- 2009 opened with a HODR project in Gonaives, Haiti, which will bring over 100 volunteers to assist in a variety of projects, including mud removal, well reclamation, and a variety of distribution tasks.

David's 40 year business background includes positions as President of BBN Technologies of Cambridge, and of GTE Labs in Waltham, as well as CEO responsibilities at public companies Computer Task Group of Buffalo and Xpedior of Chicago. Mr Campbell is currently a Managing Director of Innovation Advisors, an investment banking firm.

Mr Campbell has also served as a member of the Board of Directors of Tektronix, M&T Bank, MRO Software, Gibraltar Industries, and PowerSteering software, and Niagara University and SUNY-Buffalo, as well as civic positions including Chairman of Roswell Park Cancer Institute Council, the Buffalo United Way campaign, and the Erie County IDA and Chamber.

Recognitions include an honorary doctorate from Niagara University, citizen of the year from The Buffalo News, and inclusion as a Fellow in the first year awards of the Purpose Prize.

He is a great speaker and you will definitely want to be there! (Btw here is a link to his talk in Buffalo, the video quality is bad, but the audio is well worth it!

"

Students invest cash for Western Michigan University | Freep.com | Detroit Free Press

Close circuited for SIMM:

Students invest cash for Western Michigan University | Freep.com | Detroit Free Press: "

The 15 students in Len Harrison's Finance 4980 class in January were handed $500,000 of the roughly $200-million Western Michigan University Foundation endowment to invest.

It's the first time WMU has entrusted students with endowment funds.

Over three semesters, they will make real decisions in investing real money in hopes of preparing them for real careers. Harrison of LVM Capital in Portage said they are tentative: 'They'll come in and say, 'This is what the analysts' reports say,' and I have to remind them, 'No, you're the analysts now.' '"

And at Michigan State:

"Since 2003, Michigan State University students have invested about $3 million in endowment money that supports research. The student-run domestic-equities fund outperforms similar funds in the foundation's portfolio, said Jim Wiggins, associate professor of finance at MSU"

MBA 610 Class 4 after break Market Efficiency

Market Efficiency introduction