NewsBites
Several influential media featured the accomplishments of the School of Management and the expertise of its faculty over the past year. Below is a summary of some of the school’s citations in prominent national and regional media. These media “hits” enhance the school’s national reputation and help to brand it as one of the nation’s top business schools.
AP, BusinessWeek, New York Times, Time, Newsweek, Washington Post
Bob Viswanathan, assistant professor of operations management and strategy, was quoted in many media outlets about the proposed automaker bailout and how the industry’s woes could set off a chain reaction. “The fragility of the whole thing is very much like a house of cards,” he said. “Everybody knows that the finance markets are so interconnected, but the auto industry is worse.” The Associated Press story ran in numerous newspapers and on many national media Web sites, including BusinessWeek, The New York Times, Time, Newsweek, The Washington Post, CNN and National Public Radio.
New York Times, Wall Street Journal, CFO
Research by Feng Gu, assistant professor of accounting, on goodwill write-offs was cited in The Wall Street Journal, on The New York Times’ “DealBook” blog and in CFO magazine. Gu’s research shows that companies that take goodwill write-offs can suffer ill effects. “If you look at the entire trip from acquisition to write-off, the shareholders of the acquiring firm are worse off,” he said. “Goodwill impairment write-off is not a benign event. It represents the public acknowledgement of the failed nature of an acquisition.”
New York Times
The New York Times noted that Isaac Ehrlich, SUNY and UB Distinguished Professor of Finance and Managerial Economics, was appointed to Governor David Paterson’s Council of Economic Advisors (see related story in Start-Ups).
CNNMoney.com
Thomas Ulbrich, executive director of the School of Management’s Center for Entrepreneurial Leadership, was quoted on CNNMoney.com about how the economic crisis is affecting small business owners. “I’ve been hearing a lot about increasing costs of health care, fuel and materials,” he said. Still, he noted, “Our country was built on the entrepreneurial spirit and we will get through this. Entrepreneurs are optimistic by nature, and although they may be being cautious right now, they’re still looking for opportunities.”
FoxBusiness.com
John Hannon, associate professor of operations management and strategy, was quoted on FoxBusiness.com in a story about entrepreneurs returning to the workforce. “Corporations do want entrepreneurs in their ranks,” he said. “But [the entrepreneurs] have to want it.”
Las Vegas Sun
Jerry Newman, chair of the Department of Organization and Human Resources and SUNY Distinguished Teaching Professor, was quoted in the Las Vegas Sun about the fast-food business during a recession. Newman said that gasoline is the only industry more recession-proof than fast food. “If you have less money than a month ago you stop going to nicer restaurants,” he said. “But you still want some entertainment and there is entertainment in fast food.”
St. Louis Post-Dispatch
Arun Jain, Samuel P. Capen Professor of Marketing, was quoted in the St. Louis Post-Dispatch about the popularity of private-label brands in a time of recession. Jain claims that while consumers appreciate the lower prices of private-label products, retailers still enjoy “obscene” profit margins, so stores can offer steep discounts and “still come out smelling like a rose.”
The Atlantic
Debabrata Talukdar, associate professor of marketing, was highlighted in The Atlantic’s “Quick Study” column on significant academic research. The column quoted Talukdar’s research that shows how poor, inner-city residents must pay higher costs for groceries than suburban residents due to less competition, effectively levying a “ghetto tax.” Talukdar’s research was also cited on the Daily Policy Digest Web site.
Chronicle of Higher Education
Cristian Tiu, assistant professor of finance and managerial economics, was interviewed by The Chronicle of Higher Education about whether the current economic crisis should influence how economic theory is taught. “We are used to seeing finance as somewhat of an elitist discipline,” he said. “Why can’t we teach the unemployed guy sitting on the porch of a crumbling house that the price of that house may go down and not just up? Why can’t we teach him what an adjustable rate mortgage is? If we taught all that to the average Joe, I bet you that he would have said no to all the greedy mortgage salesmen in the world. This crisis is built on the foundations of financial illiteracy.”
Baltimore Sun, Chicago Tribune
Cynthia Shore, assistant dean for corporate and community relations, was quoted in a Baltimore Sun article that was later reprinted in the Chicago Tribune. The article focused on using the country’s financial crisis as an opportunity to teach children about finance and managing money. Shore said that she and her husband disclosed their finances to their children who were “blown away” when they saw how quickly their parents’ gross income disappeared after taxes, college and retirement savings and household expenses.
Buffalo News
A number of School of Management professors were quoted on a variety of topics by The Buffalo News. Arun Jain, Samuel P. Capen Professor of Marketing Research, said that retailers worried about the recession’s effects on holiday shopping cut their prices early. “Everybody’s scared that if they don’t catch the customers early, they won’t catch them at all,” he said.
Debabrata Talukdar, associate professor of marketing, said that competition could be tough for holiday jobs. “There has been a rise in the unemployment level across all sectors of the economy,” he said. “So, more people will definitely be looking for seasonal jobs in sectors like retailing.”
Charles Lindsey, assistant professor of marketing, said consumers should not go overboard on homemade holiday gifts. “It feels good in times like these to make things, but it doesn’t always make sense in this economy,” he said, since the cost of materials can often be more than discounted retail goods.
Larry Southwick, professor emeritus of management science, said that local gas prices are higher than the national average because of New York state taxes and regulations. “That keeps these prices higher than they would otherwise be,” he said.
Martha Salzman, assistant professor of accounting and law, commented on the state’s new tax regulations on Internet purchases, which have led some retailers to leave New York. “I think New York’s approach is pretty aggressive,” she said.
