SEMI-MONTHLY INTERNATIONAL AND NATIONAL TOP NEWS COVERAGE FOR SEPTEMBER 16-30, 2014

U.S. Media

We Can Prevent Another Financial Bubble By Keeping Household Debt Under Control

Forbes - Sept. 29, 2014:  Bubbles in financial markets most often result from a “relaxation in attitude toward debt,” which the authors of a must-read new book, "House of Debt" (Amir Sufi), term a “neglected risk.”

A Nobel Prize Laureate's Winning Investment Formula

Forbes - Sept. 22, 2014:  Eugene Fama, who was a co-winner of the Nobel Prize last year for his work on market efficiency and out-performance, spoke to the Morningstar ETF conference in Chicago on Thursday.

Apple's iPhone Prices Depend Upon The Euro And Charm Pricing

Forbes - Sept. 18, 2014:  Brent Neiman and his colleagues compared the online prices for nearly 120,000 products by Apple, IKEA, H&M, and Zara, sold in 85 countries between October 2008 and May 2013. The data come from MIT‘s Billion Prices Project, which scrapes price information from the internet.

Overachievers: No One Really Cares That You're Overachieving

Forbes - Sept. 17, 2014:  If you are putting blood, sweat and tears into work or personal projects to deliver them ahead of schedule and surpassing expectations, hear this: Nobody cares all that much about your above-and-beyond efforts, according to a study by Nick Epley and his colleague.

The Frustration That Drives People to Become Entrepreneurs

Fox Business - Sept. 17, 2014:  The feeling of being blocked from advancing in their careers is the impetus that drives many employees to leave their jobs in favor of starting their own business, according to a study by Amanda Sharkey.

A Handful of Elite Business Schools Are Also Academic Powerhouses

Bloomberg Businessweek - Sept. 23, 2014:  Six powerhouse Booth researchers (professors who wrote papers in the top 1 percent of citations in their field) made the Thomson Reuters list, including Christian Leuz and Jesse Shapiro.

The 6 Most Influential Business Books Of 2014

Yahoo Finance - Sept. 25, 2014:  "House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again" by Atif Mian and Amir Sufi. Article also in Business Insider (U.S. and Australia).

Nobel winner Fama: Active management 'never' good

Yahoo Finance - Sept. 19, 2014:  "The question is when is active management good? The answer is never," Eugene Fama said to laughs Thursday at the Morningstar ETF Conference in Chicago. Article also in international Yahoo Finance outlets and AdvisorOne.

Fama Weighs In on ETFs

Barron's - Sept. 22, 2014:  What Nobelist Eugene Fama really thinks about the enhanced investing craze.


MEDIA OUTSIDE THE U.S.

Financial Times and McKinsey announce shortlist for 2014 Business Book of the Year Award

Financial Times - Sept. 24, 2014:  "House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again" by Atif Mian and Amir Sufi. (University of Chicago Press)

Economists divided over benefits of minimum wage

Financial Times - Sept. 21, 2014:  Kevin Murphy and Robert Topel warned that a higher minimum wage would make the least skilled and productive people too expensive to employ while raising wages artificially for others.

How to save $1 billion without even trying

The Economic Times - Sept. 23, 2014:  Should we buy the name-brand product or the cheaper generic version with the exact same ingredients? Matthew Gentzkow and Jesse Shapiro tackled these questions in a recent research paper.

5 things to know about Adil Zainulbhai, Modi's latest team member

Business Standard - Sept. 18, 2014:  Adil Zainulbhai, India’s newest head of Quality, also serves on the global advisory board of the Booth School of Business at the University of Chicago.

Artwork an extension of the creator

Business Standard - Sept. 17, 2014:  According to Daniel Bartels, "If the artist made physical contact with the replica, it is as if the artist imbued the work with her/his essence by having worked with the (new, replica) piece..." Article also in Herald Globe (Australia), Yahoo Malaysia, Vancouver Desi (Canada), Web India and Net India.


RESEARCH

14 Ways to Be a Happier Person

TIME - Sept. 29, 2014:  Top positive psychologists were tapped for easy ways to infuse your days with more pleasure. Nicholas Epley's study on social interactions with strangers is cited.

The Triumph of Index Funds

TIME - Sept. 18, 2014:  Why can’t expert money managers succeed? Juhani Linnainmaa and Lubos Pastor say there are so many smart managers that they offset one another, gaining or losing at others’ expense and winding up near the market average, before expenses. Eugene Fama's research is also mentioned.

Don't Pick the Wrong iPhone

Bloomberg View - Sept. 29, 2014:  Product characteristics are hard to evaluate in the abstract, and so we don’t pay a lot of attention to them when looking at a product on its own. The explanation -- explored in a series of brilliant papers by Christopher Hsee -- involves “evaluability.”


FACULTY/STAFF/STUDENTS/SCHOOL

Should Mortgage Lending Standards Ease?

The Wall Street Journal - Sept. 21, 2014:  Easy lending standards have helped set postrecession records for new-car sales. New-home building is barely rising, due in part to much tighter standards among mortgage lenders. Amir Sufi and Austan Goolsbee are quoted.

Pretty much every economist you’ve ever heard of thinks Uber and Lyft could boost consumer welfare

The Washington Post - Wonkblog - Sept. 30, 2014:  Letting car services such as Uber or Lyft compete with taxi firms raises consumer welfare according to IGM's Economic Experts Panel. Austan Goolsbee and Richard Thaler are quoted.

Yellen’s Warning on Unsettled Rate Timetable Is Ignored: Economy

The Washington Post - Bloomberg - Sept. 24, 2014:  “They’re not sure how the economy is going to evolve,” (Randy) Kroszner, who teaches economics at the University of Chicago, told Bloomberg Radio on Sept. 19. “It really is about the data.” Article also in Yahoo Finance and Die Welt (Germany).

Mass incarceration is making the Federal Reserve’s job harder

The Washington Post - Wonkblog - Sept. 17, 2014:  Many Americans are still working only part time, and workers still aren't getting higher wages -- but employers are taking longer than ever to fill positions. What's jamming the Fed's frequencies? Steve Davis is quoted.

Why I Broke The Rules And Hired Family

Forbes - Sept. 25, 2014:  Waverly Deutsch states, “Investors tend to shy away from businesses with family co-founders, knowing that entrepreneurs will, rightly, prioritize family relationships over the business.” Alumna Vanessa Douyon, CEO and co-founder of Moxie Leadership Academy, explains why she hired family anyway.

The Greatest Risk Today Is Overlooking The Capital Markets' Abnormalities

Forbes - Sept. 23, 2014:  This article discusses slow-growing mortgage lending and Fed-created abnormalities in the capital markets. Amir Sufi is quoted.

The Top 50 Schools For Entrepreneurs

Forbes - Sept. 18, 2014:  The annual Princeton Review ranking of the top 25 graduate entrepreneurship programs offered at U.S. institutions lists the University of Chicago's Polsky Center for Entrepreneurship and Innovation as #9.

Top Ranked Part-Time MBA Programs

U.S. News University Directory - Sept. 30, 2014:  U.S. News and World Report has ranked the top part-time MBA programs. These rankings are based on five different factors. Chicago Booth is listed second.

At Elite Business Schools, Upper-Crust Sailing Competitions Are Part of the Education

Bloomberg Businessweek - Sept. 30, 2014:  Last week, 400 students from top business schools across the world traveled to the Italian riviera to network on fancy boats. The occasion was the Rolex MBA Regatta, which took place in the northern Italian city of Genoa. Sailors from Chicago Booth participated.

Business Management Degree Website Publishes List of 50 Most Innovative Business Schools in the United States

Bloomberg Businessweek - Sept. 29, 2014:  Business education website Business Management Degree has released its list of the Top 50 Most Innovative Business Schools in the United States. Chicago Booth is #6.

Pimco ETF Probe Spotlighting $270 Billion Market Vexing FSB

Bloomberg Businessweek - Sept. 26, 2014:  Fixed-income funds such as ETFs may be a potential threat to the financial system when the Federal Reserve withdraws its unprecedented stimulus, Michael Feroli, chief U.S. economist at JPMorgan Chase & Co., Anil Kashyap and two co-authors said in a paper released in February.  

In Bank Rules Debate, Capital Matters—and Words, Too

Bloomberg Businessweek - Sept. 18, 2014:  Regulators don’t want banks to go bust in the next financial crisis, or even come close. So they’re requiring them to carry thicker safety cushions of “capital,” that miraculous loss-absorbing material. John Cochrane is quoted.

Chicago Confidential: Business books I've liked recently

Chicago Tribune - Sept. 30, 2014:  "This year, I enrolled in the University of Chicago's executive MBA program. Every now and again, I plan to recommend a set of business books, research and ideas I've come across in school," writes student and Chicago Tribune columnist Melissa Harris. Richard Thaler's “Nudge” is featured.

For 1 New Jersey candidate, the issue is gold

Yahoo Finance - Sept. 29, 2014:  Back in 2012, IGM Forum asked panelists whether they agree that the gold standard would mean more employment opportunities and price stability for average Americans. Every member who answered the question disagreed or strongly disagreed. Story also in ABC News, Huffington Post, Politico, Moneynews.

University of Chicago creates new training program for non-profit and government leaders

Crain's Chicago Business - Sept. 30, 2014:  A new fellowship program at the University of Chicago will help develop leaders at local nonprofits and government agencies, training them to manage projects efficiently. Civic Consulting Alliance and Chicago Booth will offer technical support and focus on implementation.

Four steps to getting promoted

Crain's Chicago Business - Sept. 29, 2014:  When Chicago Booth began designing its weeklong executive program for prospective CFOs (launched last year), the faculty director Randy Kroszner asked companies, executive-search firms and Booth alumni to list shortcomings of CFO candidates who didn't get hired.

How did CFOs become the new heirs apparent to CEOs?

Crain's Chicago Business - Sept. 29, 2014:  “The strategic people used to say to the CFO, 'Finance our vision.' Those days are gone,” (Randy) Kroszner says. “The CFO is part and parcel of developing the vision.”


ALUMNI

Microsoft’s Nadella Channels India Expat Ethos Shaping Tech

The Washington Post - Bloomberg - Sept. 24, 2014:  Alumnus Satya Nadella is visiting India next week for the first time as chief executive officer. It’s where he absorbed lessons that are helping him navigate the company’s fiefdoms. Article also in Yahoo Finance and Livemint (India).

How She Did It: Nicole Shariat Farb on Launching Darby Smart, a Marketplace for Creativity

Forbes - Sept. 18, 2014:  Alumna Nicole Shariat Farb is the Co-Founder & CEO of Darby Smart, a marketplace for creativity where you can launch, discover and buy DIY projects and pre-tested craft supplies.

She Leads Africa Connects Female Startups in Africa to Capital

Fox Business - Sept. 30, 2014:  She Leads Africa, co-founded by alumna Afua Osei, is a social enterprise dedicated to supporting high-growth, female-led start-ups with the goal of transforming women entrepreneurs from SMEs to industry leaders.

Lyndon Taylor Rejoins Heidrick & Struggles

Bloomberg Businessweek - Sept. 30, 2014:  Heidrick & Struggles, a premier provider of executive search, leadership consulting and culture-shaping services worldwide, today announced that alumnus Lyndon Taylor has rejoined the firm as Partner within the Financial Services. Article also in CNNMoney.

Coty Inc. Announces Executive Leadership Change

Bloomberg Businessweek - Sept. 29, 2014:  Coty's Chairman, alumnus Bart Becht will become interim CEO, working with Coty's Executive Committee to ensure a smooth transition and oversee major decisions at the company.

U.S. Cellular Announces Expansion of Board of Directors

Bloomberg Businessweek - Sept. 26, 2014:  New board member, alumnus Peter L. Sereda, is Telephone and Data Systems, Inc. senior vice president - finance and treasurer, a position he has held since 2011.

Ventas Names Robert F. Probst Chief Financial Officer

Bloomberg Businessweek - Sept. 24, 2014:  In his position, alumnus Probst will be a member of the Ventas executive leadership team, reporting to Chairman and Chief Executive Officer Debra A. Cafaro.

Jeffrey A. Witherite Joins More Than Gourmet

Bloomberg Businessweek - Sept. 18, 2014:  More Than Gourmet announced that alumnus Jeffrey A. Witherite has joined the company as Vice President of Finance. He will lead MTG's Finance and Accounting functions and serve as a critical liaison between the Sales and Operations departments.

Chicago accelerator bets on startups from Turkey

Chicago Tribune - Sept. 29, 2014:  Chicago-based accelerator Sente Advisory Services works with Turkish “technoparks,” university-run hubs for startup development, to refine promising new companies and introduce them to the U.S. market. Alumnus Serhat Cicekoglu is the founder. Scott Meadow is mentioned in the article.

Emerging Markets Specialists Launch Investment Firm GEMCORP

Yahoo Finance - Sept. 22, 2014:  New company will originate and execute deals in which it will invest as principal, as well as providing investment advice. Alumnus Selim Basak is a Managing Partner.

5 Things You Should Know About Risk and Your Investments

Yahoo Finance - Sept. 23, 2014:  A memo published by alumnus Howard Marks, the Chairman of Oaktree Capital Management, provides an accurate description of risk and volatility in investing. Eugene Fama's research is mentioned.

Grandmaster Clash

Slate - Sept. 18, 2014:  Alumnus Rex Sinquefield launched the Chess Club and Scholastic Center of Saint Louis in 2008 on a quaint, brick-laden block in the city’s Central West End neighborhood. The center has 6,000 square feet of playing halls, libraries and classrooms, and more than 1,000 dues-paying members.

Byron Trott's BDT part of Einstein Bros. Bagels buyout

Crain's Chicago Business - Sept. 29, 2014:  Alumnus Byron Trott's Chicago-based merchant bank BDT Capital Partners is a minority investor in the purchase of Einstein Bros. Bagels.