SEMI-MONTHLY NATIONAL AND INTERNATIONAL TOP NEWS COVERAGE FOR MARCH 1-16, 2015

U.S. MEDIA

How the Auto Bailout Helped Save the Economy

New York Times - Mar 05, 2015 - Austan D. Goolsbee and Alan Krueger, two former chairmen of the Council of Economic Advisers in the Obama administration, are presumably not eager to relive the harrowing experience of the Great Recession. Yet the history of the bailout of General Motors and Chrysler is important enough that they have taken a close look at it in a paper for The Journal of Economic Perspectives. Mr. Goolsbee, an economics professor at the University of Chicago’s Booth School of Business, and Mr. Krueger, a professor of economics and public affairs at Princeton, discussed their paper, the recovery of the auto industry as a driver for broader economic growth, and how Chrysler proved them wrong.

Speaking Skills Key to Getting Hired, Study Finds

U.S. News and World Report - Mar 12, 2015 - University of Chicago investigators asked MBA students to develop short written and spoken pitches for a company where they'd like to work. (Article also appears on Philly.com.)

Not clear why Fed in rush to tighten, Sufi says

MarketWatch - Mar 13, 2015 - Amir Sufi is one of the brightest young stars in the economics profession. An economics professor at the University of Chicago, Sufi is co-author of the book “House of Debt” called the best economics book of 2014 by former Treasury Secretary Larry Summers. In it, Sufi and his co-author Atif Mian of Princeton, argued that the financial crisis was caused by overly indebted households.

Why one expert says subprime auto isn’t nearly the threat of subprime mortgages

MarketWatch - Mar 13, 2015 - The growth in subprime auto loans has drawn a lot of comparison recently to the conditions of the subprime housing market prior to its collapse. But those fears are misplaced, in large part because subprime auto loan debt outstanding is such a smaller fraction of household debt relative to mortgages, said University of Chicago economics professor Amir Sufi.

Do Business-School Rankings Matter?

Wall Street Journal - Mar 05, 2015
- Fluctuations in rank matter less for top schools, deans of those institutions said. When the University of Chicago's Booth School of Business fell from the No. 1 spot to No. 3 in the Businessweek rankings in 2014, a school spokeswoman said she was prepared to release a statement to media, but no one asked. Because the change happened in a year when the ranking algorithm was rejiggered, "it taught us more about the [ranking] method and the competitors" than about Booth itself, said Sunil Kumar, the school's dean.

Straight Talk for White Men

New York Times - Feb 21, 2015 - Two scholars, Marianne Bertrand and Sendhil Mullainathan, sent out fictitious résumés in response to help-wanted ads. Each résumé was given a name that either sounded stereotypically African-American or one that sounded white, but the résumés were otherwise basically the same.

Dollar signs on the doilies

Marketplace - Mar 05, 2015 - Steve Kaplan, who teaches entrepreneurship at the University of Chicago's Booth School of Business, says there might be some initial rumblings of discontent when the company goes public. But at the end of the day, "If you deliver something that your customers really like, you have created a huge amount of social value," he says.

Schools Where MBAs Get The Most Jobs

Poets and Quants - Mar 14, 2015 - More surprisingly, the University of Chicago’s Booth School of Business is ranked second with an impressive 97.2% placement rate within three months of graduation. The surprise isn’t that Booth, U.S. News’ 4th ranked program, performed so well. It is that Booth has nearly 1,200 first and second-year full-time students, meaning the number of students without jobs is almost statistically insignificant. Booth grads, who were snapped up by McKinsey, BCG, Bain & Company, Accenture, Deloitte, and Credit Suisse in 2014, also earned $137,615 in salary and bonus to start. However, this average falls short of what graduates from lower ranked programs are earning, including Haas ($140,935), Columbia ($139,006), Tuck ($142,489), and Ross ($140,497).

U.S. News Now Ranks Chicago Booth EMBA No. 1

Poets and Quants - Mar 14, 2015 - After holding onto first place in U.S. New & World Report’s ranking of the best Executive MBA programs for many years, the University of Pennsylvania’s Wharton School has been nudged aside by its midwestern finance rival. The University of Chicago’s Booth School of Business tops the new ranking of EMBA programs published March 10th by U.S. News for the first time.

German Law Requires More Women on Corporate Boards

New York Times - Mar 06, 2015 - A study last year, out of the University of Chicago, found that the legislative mandates in some European nations accomplished their goal: getting more women onto corporate boards. But they did not do much to usher more women into the chief executive’s office, nor help narrow the gender pay gap. In Norway, more women were not enticed into business careers, and the mandates did not prompt more workplace policies that helped parents. (References research by Marianne Bertrand.)

The Risks of Currency Trading

U.S. News and World Report - Mar 11, 2015 - One banking superstar can make a difference. Do you remember how much Democrats and Republicans loved former U.S. Federal Reserve Chairman Alan Greenspan? You could compare him to Raghuram Rajan, governor of the Reserve Bank of India. He already had a stellar track record as a chief economist for the International Monetary Fund and a University of Chicago finance professor.

Email lets other people schedule your life—here’s how to stop it

Quartz - Mar 11, 2015 - There is no such thing as a real conversation over email. Period. The back-and-forth of emails and text messages offer the appearance of intimacy. Unfortunately, it’s a false one, as Justin Kruger of New York University and Nicholas Epley of the University of Chicago proved. The two psychologists showed that people could only accurately determine sentiment in text-based communications about half of the time. (Article also appears on Government Executive.)

5 Ways Women in Tech Can Beat the Odds

Money - Mar 06, 2015 - The solution, according to study authors Ayelet Gneezy of U.C. San Diego and Nicholas Epley of University of Chicago: When you really want to impress, hold back on making any promises and just surprise people with your finished product.

Many metrics can be used to value markets. Which should you trust?

Washington Post - Mar 06, 2015 - Consider what professors Eugene Fama (University of Chicago Booth School of Business, 2013 Nobel laureate in economic sciences) and Ken French (professor of Finance at the Tuck School of Business at Dartmouth College) have observed about all of these different methods of valuation: "Different price ratios are just different ways to scale a stock's price with a fundamental, to extract the information in the cross-section of stock prices about expected returns."

Making sense of jobs growth

CNBC - Mar 06, 2015 - CNBC's Rick Santelli and Steve Liesman; Mark Zandi, Moody Analytics; Austan Goolsbee, Booth School of Business, and Lanhee Chen, Stanford University, provide perspective on February's jobs numbers.

Why no wage growth?

CNBC - Mar 06, 2015 - Mark Zandi, Moody Analytics; Austan Goolsbee, Booth School of Business, and Lanhee Chen, Stanford University, discuss the relationship behind wage stagnation and productivity.

Key factors that could hurt jobs report

CNBC - Mar 06, 2015 - Mark Zandi, Moody Analytics; Austan Goolsbee, Booth School of Business, and Lanhee Chen, Stanford University, discuss how layoffs in the energy sector, cold weather, and negative productivity could impact Friday's employment report. I think entitlement spending is a huge problem, says Chen.

Opinion: If you want to make big bucks, go small

MarketWatch - Mar 16, 2015 - “Size Matters, If You Control for Junk” has been written by Cliff Asness, Andrea Frazzini and Ronan Israel of AQR Capital, a Greenwich, Conn.,-based hedge-fund company; Tobias Moskowitz, a professor at the University of Chicago’s Booth School of Business; and Lasse Pederson at the Copenhagen School of Business in Denmark. (Article also appears on Morningstar.com, Fidelity.com.)

Next goal for Seeds of Peace: Putting campers to work

Christian Science Monitor - Mar 10, 2015 - To be sure, for many Seeds the initial enthusiasm of camp fades as they go back to work or their studies. But a University of Chicago study published in the fall found that Seeds who made just one lasting friend at camp retained a more positive view of the "other." (Article also appeared on Yahoo News.)

Piketty Corrects the Inequality Crowd

Wall Street Journal - Mar 08, 2015 - The Initiative on Global Markets at the University of Chicago asked economists in October whether they agreed or disagreed with the following statement: “The most powerful force pushing towards greater wealth inequality in the U.S. since the 1970s is the gap between the after-tax return on capital and the economic growth rate.” Of 36 economists who responded, only one agreed.

MBA Programs Where Most Students Get Jobs

U.S. News and World Report - Mar 10, 2015 - Unlike last year, some of the highest-ranked MBA programs made this year's top 10 list for schools where students secured jobs within three months of graduating. The Booth School of Business at the University of Chicago, ranked No. 4, had 97.2 percent of 2014 graduates employed. (Article also appeared on Yahoo News.)

Business Schools Aim to Become Incubators for Innovation

U.S. News and World Report - Mar 10, 2015 - The University of Chicago’s Booth School of Business Polsky Center for Entrepreneurship and Innovation, for example, offers courses in a wide range of industries, from real estate to the Internet to global finance.

U.S. News Releases 2016 Best Graduate Schools Rankings

U.S. News and World Report - Mar 10, 2015 - Among part-time MBA programs, the University of California—Berkeley's Haas School of Business again took the No. 1 spot, followed by the Booth School of Business at the University of Chicago in second place and the Kellogg School of Management at Northwestern University in third.

See the 2016 Best Business Schools

U.S. News and World Report - Mar 10, 2015

4. University of Chicago (Booth) Next » 18 of 22« Back (University of Chicago Booth School of Business)
Full-time enrollment: 1,181
2014-2015 tuition: $61,520 per year
2014 acceptance rate: 23.5 percent
More about the Booth School of Business.

University of Chicago expanding labs to tackle urban issues

Chicago Tribune - Mar 09, 2015 - Marianne Bertrand, a professor of economics at the Booth School of Business, will direct the poverty lab. (The Associated Press, Chicago Sun-Times, DNAInfo Chicago, NBC Chicago, ABC 7 Chicago and more covered the event.)

Ethics Can Change According to Where We Are

Wall Street Journal - Feb 12, 2015 - The most fascinating case is when what differs in those situations is someone’s ethics—a case explored in a recent study in the journal Nature conducted by Alain Cohn and colleagues at the University of Zurich.


MEDIA OUTSIDE THE U.S.

Building entrepreneurship

Financial Times - Mar 13, 2015 -There are several ways business schools can help an entrepreneur, Sunil Kumar, dean of Chicago Booth School of Business, tells FT Business Education Editor Della Bradshaw. The most important factor, he says, is the networking opportunities.

Corporate peak still out of reach for most women

Financial Times - Mar 05, 2015 - An unpublished working paper by Marianne Bertrand, Sandra E Black, Sissel Jensen and Adriana Lleras-Muney found that female directors appointed after the reform were better qualified than their predecessors and that the gender gap in earnings within boards fell. But it found no evidence that better female representation among the very highest earners in these companies trickled down through the businesses more generally. Overall, the reform had "very little discernible impact on women in business beyond its direct effect on the newly appointed female board members", it concluded.

Can your voice land you your dream job?

Daily Mail - Mar 11, 2015 - The new study by University of Chicago Booth School of Business Professor Nicholas Epley and PhD candidate Juliana Schroeder also found the addition of video did not influence evaluations beyond hearing the candidate's voice.

How to talk yourself into a job

Toronto Star - Mar 04, 2015 - Speak up and be heard! That’s the message from a new study from the University of Chicago, Booth School of Business. The study tested the theory that no matter how good your resume is, it’s your voice that may convince employers to hire you. In the study, researchers asked a group of Chicago Booth MBA students to create a short pitch for the company for which they would most like to work. The pitches were written on paper and also videotaped. Hypothetical employers and recruiters then listened to and read all the pitches.

Uncertain rewards drive people to work harder

Business Standard - Mar 05, 2015 - "When comparing the time, money, and effort people invest in order to qualify for either a certain or an uncertain reward, we find that the uncertain reward is more motivating than the certain reward," said Ayelet Fishbach from University of Chicago Booth School of Business.

What firms need to do to keep entrepreneur-minded employees from jumping ship

Financial Post - Mar 05, 2015 - In many cases, entrepreneurs are just the opposite of corporate misfits, new research from the University of Chicago Booth School of Business shows. Individuals who are an especially good fit with their employers are more likely to start their own business than jump to a rival, Amanda Sharkey of Chicago Booth and Jesper Sorensen of Stanford University's Graduate School of Business write in their paper, "Entrepreneurship as a Mobility Process," which appeared in the American Sociological Review.

Still, not stagnant

The Economist - Mar 05, 2015 -The population is ageing and long-run growth prospects look dim. Interest rates, which have been near zero for years, are still not low enough to get the American economy zipping along. A new paper published by the University of Chicago's Booth School of Business, however, reckons that secular stagnation is not quite the right diagnosis for America’s ills.* (References U.S. Monetary Policy Forum paper, cites ties to Chicago Booth.)

What’s the right rate? Or, the case for monetary policy nihilism

Financial Times - Mar 03, 2015 -  So we were intrigued to read a new paper by, among others, Goldman’s Jan Hatzius and BAML’s Ethan Harris, which was presented on Friday at the Chicago Booth Monetary Policy Forum, that basically agrees with our view.

Students lose faith in professional disciplines

Financial Times - Mar 15, 2015 - As one might expect, not all schools are suffering equally. Applications to MBA programmes at top business schools are actually rising as part of a flight to quality. Schools such as Harvard, Stanford and Chicago Booth have therefore been able to become choosier about their entrants, just as top law schools (often at the same universities) have also had fewer difficulties.

E-com angels

Financial Express - Mar 09, 2015 - An MBA from Chicago Booth, Aditi Avasthi has had stints at consulting firms Bain & Company and Barclays, where she worked extensively across the US, Asia, Europe and Africa in the mobile commerce and payments, as well as ITeS spaces. Having been an IIT aspirant herself, she returned to India to start Embibe, an online test preparation platform.

From MBA To CEO: Graduates Lead World’s Biggest Private Equity Firms

BusinessBecause - Mar 05, 2015 - Carlyle Group, the private equity firm which in February had $195 billion in assets under management, was co-founded by William Conway and Daniel D’Aniello, who studied MBA programs at Chicago’s Booth School of Business and Harvard, respectively.

Uærlighet i finansbransjen

Dagens Næringsliv - Feb 26, 2015 - Dette spørsmålet danner utgangspunkt for artikkelen «Occupational norms implicitly favor dishonest behavior in bankers», nylig publisert i topptidsskriftet Nature. Forskerne, Alain Cohn, Ernst Fehr og Michel Maréchal, gjennomførte et økonomisk eksperiment for å undersøke om aksept av uærlighet er en del av forretningskulturen i finansbransjen.


ALUMNI

How ZipFit Denim uses algorithms to help put men in designer jeans

Chicago Tribune - Mar 10, 2015 - Liz Tilatti is taking the marketing maxim “Go where the customers are” to heart. She co-founded men’s fashion startup ZipFit Denim in 2011 while she was an MBA candidate at the University of Chicago’s Booth School of Business.

Where to go when you need a haircut right now

Crain's Chicago Business - Mar 12, 2015 - Coco Meers feels your pain. Six years ago, Meers, then a Paris-based brand manager at L'Oreal Group, raced to an Air France spa kiosk for an eyebrow wax during a flight delay. ... In 2010, the Princeton grad, a native of Birmingham, Ala., moved to Chicago to enroll at the University of Chicago's Booth School of Business. There she hatched the idea for PrettyQuick, a real-time service that matches users with nearby salons and spas that have available appointments.

How Licks launched from an effort to treat one dog's anxiety

Chicago Tribune - Mar 13, 2015 - Amy Paris launched the business in 2011 out of the New Venture Challenge at the University of Chicago Booth School of Business, and she operates it out of a warehouse in Chicago’s Bucktown neighborhood. (Article picked up by Tribune News Service, Bloomberg.)