News from Yale SOM
“As the search for the School of Management’s new dean reaches the interview phase, SOM community members reflect on the business school’s broader values and issues that they would like their new leader to address.
“Dean Edward Snyder announced last spring that he would step down from his position after the 2018-19 academic year. University President Peter Salovey tasked the SOM Dean Search Advisory Committee, a group chaired by finance professor Andrew Metrick ’89 and comprised of nine other University faculty members, with finding a new dean. According to committee member and Deputy Provost for International Affairs Pericles Lewis, the committee identified several contenders for the position after gathering feedback from SOM faculty, staff, students and alumni.
“Metrick told the News that he cannot disclose the number of candidates who are under consideration, but the count is ‘a single-digit number.’ At the end of the process, his committee will give a short list of candidates to Salovey, who will make the final choice.”
U.S. Economy To Remain Strong Through Most Of 2019, With Output Averaging 3%
News from Indiana University Kelley School of Business
“Higher than expected economic growth in 2018 should continue into next year, with U.S. output averaging 3% and continued strong gains in domestic job growth. Indiana will continue to outperform the nation, with output growing at a rate of 3.2%, according to a forecast presented today by Indiana University’s Kelley School of Business.
“A year ago, members of Kelley’s Indiana Business Outlook Tour panel predicted that U.S. gross domestic product would grow by 2.6% this year and about 3% if tax reform were enacted. Indiana was forecast to see growth of 2.8%. Friday’s release of GDP data for the third quarter supports their view that 2018 should end up with output growth above those levels.
“‘The tax cut has produced an acceleration in the U.S. economy during 2018 to well above the new normal status quo of 2 percent growth,’ said Bill Witte, associate professor emeritus of economics at IU. ‘We expect output growth in 2019 to average 3 percent, but with deceleration as the year proceeds. By this time next year, quarterly growth will be heading toward equilibrium growth at a little below 2.5 percent.'”
Veterans Kickstart Recruiting At The MBA Veterans Conference
News from Vanderbilt University Owen Graduate School of Management
“Founded in 2009, the MBA Veterans Network® is a professional networking and advocacy organization for military veterans and alumni. The organization’s flagship event is the MBA Veterans Conference, which connects 350+ first- and second-year MBA students, all of whom are military veterans, with more than 50 of America’s leading MBA employers. Every fall, a group of Vanderbilt Business veterans attend the conference, building relationships with employers as well as veterans at other schools.
“This year’s conference was held from October 11 to 12 in Chicago, Illinois, and two of Owen’s attendees — Gina Colucci and Seth Staugler — share their thoughts on the experience.
“‘The MBA Veterans Conference seemed like a logical place to start my recruiting, and I was not disappointed with my decision to attend,” Gina Colucci says. ‘It was a great place to learn about companies, network with fellow veterans, and get a head start with interviews. The conference’s online platform allowed me to connect with companies before the event and express my interest in the positions they were offering. Several of those companies reached out by asking me to invite-only happy hours or breakfasts and one company even conducted an over-the-phone, first-round interview.'”
Tuck Professor Warns We Will Have Another Financial Crisis
News from Dartmouth College Tuck School of Business
“A decade has passed since the 2008 financial crisis, but both its causes and its effects are still with us, says Tuck clinical professor Peter Fisher in an interview with Tuck News.
“Fisher, a former Fed and U.S. Treasury official who came to Tuck from BlackRock, teaches The Arrhythmia of Finance — one of the school’s most popular courses.”
Of Money And Men: A Tale Of Poker, Wall Street – And An Open Wound
News from The Wharton School at the University of Pennsylvania
“In his unfinished novel The Last Tycoon, F. Scott Fitzgerald wrote that there are no second acts in American lives. While this statement is widely quoted – or misquoted, according to purists – clearly it does not apply to Jerrold Fine, whose life has had at least three acts. Having begun his career in New York City after graduating in 1964 from Wharton, Fine at age 24 was one of the pioneers of hedge funds on Wall Street. The fund that he and his partners launched in 1967 grew by the 1970s to become the largest in the industry. Fine left the partnership in 1976 to set up his own firm – Charter Oak Partners Management – in Connecticut. That second act continued through 2014, when he converted Charter Oak into a family office to embark on Act Three. At age 72, Fine chose to become a novelist.
His debut novel – titled, Make Me Even and I’ll Never Gamble Again – was published in August, and it packs the power of a Babe Ruth home run. Its multi-layered narrative is at one level a coming-of-age tale of a middle-class kid from Cincinnati named Rogers Stout. His father is a dedicated doctor who cares deeply for patients. After considerable soul-searching, Rogers chooses not to follow his father into medicine but decides to go to business school and pursue a career in finance. The novel paints an affectionate portrait of the Wharton School in the 1970s. At the same time, Make Me Even is the story of life on Wall Street in the turbulent 1970s and early 1980s. At its heart, it is the saga of a brilliant young man’s efforts to cope with an unhealed – and possibly unhealable — wound.”