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March 2009

(c) Pennsylvania State University 2010

A compilation of clips of Smeal or Smeal faculty appearing in the media this month.

Media Coverage: March 2009

SportsBusiness Daily, 03/31/2009—Article on the agreement between TNS and the Center for Sports Business & Research to grant the center access to data from the ESPN Sports Poll. (Closing Bell).

The Scranton Times-Tribune, 03/29/2009—Austin Jaffe, chair of the Department of Insurance and Real Estate, comments on the Pennsylvania real estate market. "I think we are far from through in the collapse of the housing market," Jaffe said. "The tradition has been, Pennsylvania follows the trends that have been set elsewhere, rather than leads." (Metro Area In Unique Position On Housing).

Dow Jones Newswire, 03/27/2009—J. Edward Ketz, associate professor of accounting, comments on a assets held off balance sheets by banks. "These blowups 'wouldn't have come as such a surprise if you had known of the off-balance-sheet items ahead of time,'" said Ketz. (Accounting Rule Change May Block Capital For Credit-Card Issuers).

The Journal News (Westchester, N.Y.), 03/27/2009—Fariborz Ghadar, director of the Center for Global Business Studies, comments IBM job cuts. "'Their customers are under pressure to reduce their costs so they're putting pressure' on IBM," Ghadar said. (Workers Reveal Vast IBM Job Cuts).

Real Estate Law & Industry, 03/26/2009—Q&A with Austin Jaffe, chair of the Department of Insurance and Real Estate, on  the Fed's reaction to the financial crisis. (As 'Old World' Of Real Estate Ends, The Makings Of Recovery Begin To Take Shape).

National Review Online, 03/26/2009—Blog entry cites research by Jean Helwege, associate professor of finance. "The two main reasons for TBTF [too-big-too-fail] policy, counterparty risk and fire sales, are unlikely to pose major risks to the system should failed financial firms be permitted to file for bankruptcy protection," Helwege writes. (Geithner's New Plan).

The Daily Collegian, 03/26/2009—Tyler Davis, information manager, and Christine Pacifico, academic adviser, comment on recruiting trends. (Economy Chills Job Opportunities).

American Banker, 03/25/2009—John Liechty, associate professor of marketing and statistics, proposes in an op-ed the creation of a new National Institute of Finance. "The mission would be to provide regulators the data, software, computing power, and analytic capacity they need to oversee and safeguard the health of the modern financial system." (Financial Regulators Need Better Data).

The Daily Collegian, 03/25/2009—Article on the Nittany Lion Fund quotes J. Randall Woolridge, professor of finance. "This is a good time to buy," Woolridge said. "The biggest mistake people make is not buying in a down market." (Students Invest In Future).

WRTA-AM (Altoona, Pa.), 03/25/2009—Jean Helwege, associate professor of finance, was interviewed on the economic crisis and the government's response.

TheStreet.com, 03/19/2009—J. Edward Ketz, associate professor of accounting, writes in an op-ed about a new way to stimulate the economy. "My proposal is very simple," Ketz writes. "As the economy lists in its doldrums, why not goose the accounting reports and get investors buying stocks again? Once stock prices rise gloriously and the Dow again sees 10,000, the economy will be fixed." (A Stimulus Plan And Some Satire). This article also appeared on SmartPros.com.

Multichannel News, 03/19/2009—Article on Cox joining the Institute for the Study of Business Markets. "Cox, one of 77 companies that have joined the Penn State research group, will get access to analysis from about 100 associated researchers worldwide and also expects to contribute to the diversity of ideas and experience represented in the group." (Cox Thinks Business).

MSN Money, 03/17/2009—Fariborz Ghadar, director of the Center for Global Business Studies, comments on the effect of the economic crisis on GE. "Loan losses of 10% to 15% would force GE to take write-downs and see its capital base shrink by an amount that would alarm investors, believes Fariborz Ghadar. ... 'If we don't pull out of the credit crisis, then GE is going to be in trouble again in a year.'"(How GE Dug Itself Deep Into Crisis).

Bloomberg News, 03/17/2009—J. Edward Ketz, associate professor of accounting, comments on the FASB's recent proposal on valuing investment losses. "The proposal, which was chosen over another presented by the FASB staff, adds 'so much subjectivity to the process that it's giving a blank check to managers to manage earnings,'" Ketz said. (Cuomo's AIG Letter, Goldman Gives, FASB: Compliance).

Kansas City Business Journal, 03/13/2009—Arvind Rangaswamy, Anchel Professor of Marketing, comments on his research on marketing during a recession. (Dodging Danger: Some Paths To The Prize Look Tempting But Are Fraught With Peril).

WSJ.com, 03/12/2009—Blog entry on an angel fund being established by Anthony Warren, director of the Farrell Center for Corporate Innovation and Entrepreneurship. "Despite the troubles encountered on the fund-raising trail by some peers, Warren said he hopes to wrap the fund by the start of the fall semester. 'I don't see any reason why this can't be closed quickly,' he said." (Student VCs Give It The Old College Try).

Centre Daily Times, 03/09/2009—Austin Jaffe, chair of the Department of Insurance and Real Estate, comments on the Pennsylvania real estate market. "Pennsylvania had not been falling in the beginning (of the national decline) but now is showing consistent signs of a decline in prices like everywhere else," Jaffe said. "Optimists are confident there will be some good news in 2009 ... some think we'll have to wait until 2010." (County Housing Market Resilient).

New York Post, 03/08/2009—J. Randall Woolridge, professor of finance, comments on the job market for finance graduates. "Investment banks are getting rid of staff earning $600,000 to $700,000 a year, and hiring graduating students on annual salaries and bonuses of $100,000 to $125,000," said Woolridge. "They always need these worker bees." (Despite Biz Cuts, Grads Getting Jobs).

The Star-Ledger, 03/08/2009—Wayne DeSarbo, executive director of the Center for Sports Business & Research, comments on the competition between New Jersey's Izod Center and Prudential Center. "What they need is cooperation, not a war," DeSarbo said. "They should be thinking about making the pie larger, not getting a bigger piece of the pie." (When Arenas Collide).

The Associated Press, 03/03/2009—J. Edward Ketz, associate professor of accounting, explains what "goodwill" means in accounting. "It's considered an intangible asset because it is intended to reflect the added value, by way of cash flows or profits, that will come from the combination of the two companies, said J. Edward Ketz." (Goodwill During A Bad Recession). This article appeared on more than 70 news Web sites.

Centre Daily Times, 03/02/2009—Patrick Cataldo, associate dean for executive education, writes in his column about supply chain management. "Leading companies see their supply chain as a source of competitive advantage," Cataldo writes. "However, during difficult financial times, making additional investments to improve them, while still a good idea, is a tough sell." (Supply Chain Leaders Face Tricky Savings, Risk Balance).

CentreDaily.com, 03/02/2009—Patrick Cataldo, associate dean for executive education, writes in his blog about supply chain management. "The key with any supply chain expense reduction action is to effectively balance savings with the ability to deliver the right product to the right place at the right time," Cataldo writes. (Supply Chains Key To Financial Success).

Chambersburg Public Opinion, 03/02/2009—Article on a new Smeal Scholarship. "The Lewis and Helen Starr Entrepreneur Trustee Scholarship in the Smeal College of Business will be granted each year to a CASHS graduate who has been accepted into Penn State's Smeal College of Business in University Park" (Scholarship Honors Starrs).

Global Finance, 03/01/2009—Fariborz Ghadar, director of the Center for Global Business Studies, comments on the Mexican economy. "Mexico has not done that badly," Ghadar said. "Financial institutions are now better regulated, and if you see what's happening, it is the more financially secure Mexican companies that have been buying into the U.S." (The Party's Over).

Pittsburgh Tribune-Review, 03/01/2009—J. Randall Woolridge, professor of finance, comments on investment scams. "As long as the market is going up, everyone is happy," Woolridge said. "When the market unravels, cheats get caught." (California Firm Led Pitt, CMU To Invest $114M).

BizEd, March/April 2009—Article on research by Anthony Kwasnica, associate professor of business economics. "Many factors go into creating a financial collapse, but researchers suggest that a widespread belief in a bleak economic future can itself make that future a reality." (Pessimism Makes It So).

SmartPros.com, March 2009—J. Edward Ketz, associate professor of accounting, writes in his column on the book Fooling Some of the People All of the Time and the case against Allied Capital described in the book. "I am just as eager as others to ferret out those who abuse accounting reports, but I also want to be careful to place blame where the evidence leads," Ketz writes. "The evidence in this case leads squarely to Patrick Harrington and his associates." (Einhorn v. Allied Capital).

SmartPros.com, March 2009—J. Edward Ketz, associate professor of accounting, writes in his column on the SEC requesting a quotation dealing with public company accounting intelligence. "Whatever is really going on, the SEC needs help to do its job," Ketz writes. "I hope the winner of this request supplies them with the data they need to perform their mission.  I only wish the SEC had asked for help about 15 years ago." (The SEC Asks For Help In Apprehending The Bad Guys).

SmartPros.com, March 2009—J. Edward Ketz, associate professor of accounting, writes in his column on a bill to establish the Federal Accounting Oversight Board. "The bill is misguided in two fundamental ways," Ketz writes. "First, it would decrease the power of the SEC in its oversight responsibilities. Second, it would allow Washington politicians to twist and bend accounting pronouncements in an effort to improve macroeconomic conditions." (Reps. Perlmutter And Lucas: Accounting Truth or Consequences).

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