MONTHLY TOP MEDIA COVERAGE FOR JULY 2016

U.S. MEDIA

Law professor points out the holes in your retirement plan

Chicago Tribune - Jul 28, 2016 Q: A popular solution comes from University of Chicago professor Richard Thaler, author of "Nudge." He says: Don't wait for people to take care of themselves. Instead, employers should pull money automatically out of each person's paycheck and stick it into their 401(k) account.

How Can We Stop the Violence? This Program Works, Even in Juvenile Detention

Chicago Magazine - Jul 28, 2016 “It’s kind of incredible because the BAM program itself has a lot of components to it, and that program is working with young men who are still attending school,” says Anuj K. Shah, a behavioral scientist at the University of Chicago and one of the paper’s authors. “And then you take something that’s related to it at a theoretical level, and you apply it in the JTDC with a population that might only be there for three weeks at a time And it’s certainly a more at-risk population. To see that still be effective there, reducing recidivism rates by as much as 21 percent 18 months out, it was kind of amazing to see.”

Number of Jobless Young Men Surges: You Won’t Believe What They’re Doing With Their Time

MoneyTalksNews - Jul 28, 2016 A surprising portion of young non-college educated men in America are jobless. In fact, according to Erik Hurst, a macroeconomist at the University of Chicago’s Booth School of Business, employment rates among young men fell more than any other age-and-gender group of workers during the 2000s. Article also appears in Yahoo Finance.

What Does 'Regulatory Capture' Mean to Business and the Economy?

Inc.com - Jul 28, 2016 A one-day conference at Columbia University in April explored "media capture"--the idea that business interests control the press that cover them--while the economist Luigi Zingales recently suggested that economists themselves are subject to capture. ...Zingales, who heads a research center at the University of Chicago dedicated to regulatory capture, says he knows of no such study. (He is, however, working on a paper that will try to put a price on capture in the mobile telephone industry.)

Ex-Obama adviser Austan Goolsbee says Fed may cut rates in 2016

CNBC (includes video) - Jul 26, 2016 Goolsbee, who is now a professor at the University of Chicago's Booth School of Business, said, "It's far more likely that they'll have to reverse themselves as a number of other countries have, like Sweden and others, where they raise the rates thinking it'll be fine and then have to drop it."

What Are Young Non-Working Men Doing?

The Atlantic - Jul 25, 2016 As for what they’re doing all day, Erik Hurst, an economist at the University of Chicago, is now conducting research that suggests that non-college men who aren’t in the labor market are spending a considerable amount of their time in front of screens. ...The hours that they are not working have been replaced almost one for one with leisure time. Seventy-five percent of this new leisure time falls into one category: video games.

What Happens When There Are Limits on Bankers’ Bonuses?

The Atlantic - Jul 21, 2016 In a new working paper, Anya Kleymenova and Irem Tuna, who are professors of accounting at the University of Chicago Booth School of Business and London Business School respectively, look at one place that tried it—England, where an earnings-capping law went into effect in 2010. The law, called the Remuneration Code, specifically targets the bonuses of those making more than £500,000 a year, mandating that 60 percent of each bonus be paid out a minimum of three years after the fact.

By the Sea Where the Sirens Called, an Italian Town Beckons Tourists With Art

New York Times - Jul 20, 2016 Luigi Zingales, an economist at the University of Chicago Booth School of Business, who helped draft the social capital model for the association, said there is a political context as well. "Seen from the outside, this may not seem like a big achievement,” he said. “But in the south, where there is no tradition of doing things from the bottom up, it shows that you can actually do things with public funding, but without being connected” to politicians or interests. “It’s a small step for Praiano but a leap forward for southern Italy,” he added.

How a Spike in the Value of the Dollar Is Hurting the U.S. Economy

Fortune - Jul 20, 2016 “I expect that the deficit will expand from 3% to 5% of GDP,” says Robert Aliber, professor emeritus of international finance at the University of Chicago’s Booth School of Business. “That’s a lot of lost sales and lost jobs.”

American political speech is increasingly partisan, research shows

Phys.Org - Jul 19, 2016 The extent to which lawmakers' speech reflects deep party divisions is unprecedented, according to Gentzkow's research conducted with fellow economists Jesse Shapiro of Brown University and Matt Taddy of the University of Chicago Booth School of Business.

8 Secrets Of Great Communicators

Forbes - Jul 19, 2016 “Our problem in communicating with friends is that we have an illusion of insight,” said study co-author Nicholas Epley. “Getting close to someone appears to create the illusion of understanding more than actual understanding.”

Meet the LGBT-Owned Food Startup That Just Landed $500,000 on West Texas Investors Club

Fortune - Jul 18, 2016 When the women launched Hip Chick Farms in 2011, they knew the sort of odds they were up against. Nine out of 10 startups fail, and only 10% of startups with a female founder receive funding. Lesbian-owned companies appear to be at a particular disadvantage, with only 3% reaching revenues of more than $5 million, compared with 12% of companies owned by gay men, according to a new study by researchers at the Chicago Booth School of Business (Waverly Deutsch).

Brexit: The Fallout In Italy

WBEZ 91.5 (includes audio) - Jul 18, 2016 We talk about how the Brexit vote is playing out in Italy with Luigi Zingales, a professor of entrepreneurship and finance at the University of Chicago and the director of the Stigler Center at the University of Chicago.

Bad First Impressions Are Hard to Shake Because People Are Lazy

New York Magazine - Jul 18, 2016 In a study recently published in the journal Social Cognition, researchers from the University of Chicago (Ed O'Brien) examined what they call the “moral tipping point,” the moment when our view of someone shifts from bad to good, or vice versa — and that moment is a lot tougher to get to, they found, if we’re deciding that a person has changed for the better. Article also appears in Health News and Bustle.

Booth School dean departs

Crain's Chicago Business - Jul 15, 2016 Sunil Kumar, dean of the University of Chicago's Booth School of Business, is leaving after five-plus years to become provost at Johns Hopkins University in Baltimore, he said today in a note to colleagues. Booth plans to appoint an interim dean “very soon” and conduct a search for a permanent successor, said spokeswoman Susan Guibert.

Want to Build Trust? Order the Same Food

Wall Street Journal - Jul 15, 2016 In general, says Ayelet Fishbach, one of the researchers, “ ‘I’ll have the same’ is a great strategy,” but it is probably good enough merely to have something similar. She says her continuing research with Kaitlin Woolley has also found that it is better to have shared dishes, like one would at, say, a Chinese restaurant, and that saying “I’ll have the same” (or something similar) works when having beverages too.

U. of C. Booth dean leaving to become Johns Hopkins provost

Chicago Tribune - Jul 15, 2016 The dean of the University of Chicago Booth School of Business is leaving to become the next provost of Johns Hopkins University, effective Sept. 1. Sunil Kumar will be the 15th provost of Johns Hopkins and the first Asian appointed to the position, the Baltimore university said

How Much Chinese Are Willing to Pay for Cleaner Air

Wall Street Journal (blog) - Jul 14, 2016 Thomas Talhelm, who founded Smart Air Filters, a company in Beijing selling low-cost, DIY air filters, said he’s seen Chinese awareness of air pollution continue to rise along with better education and incomes in recent years. “I see this growing awareness among people who ask, ‘Why is the air so bad in Beijing these last few years?’ Yet particulate pollution levels have been roughly flat or even down in Beijing since 2008,” said Mr. Talhelm, who also serves as an assistant professor at the University of Chicago Booth School of Business. “It’s not that the air is getting dirtier, it’s that people are starting to see it.”

Online prices are showing signs of deflation

CNBC - Jul 14, 2016 That provides more meaningful data than unadjusted indexes, said Austan Goolsbee, professor of economics at the University of Chicago's Booth School of Business and an advisor to the project. It means that if beef gets more expensive and people start buying chicken instead, the index will reflect both the change to the prices and different buying habits. Economists have known that this is a problem with price indices from the very beginning," Goolsbee said. "We couldn't observe how they respond to prices or the quantities they're buying, so they would have to do a one-time survey for the quantities and watch the price of those things."

On Pokemon Go, why so many people are choosing Team Mystic

MarketWatch - Jul 14, 2016 When people are presented with three tip choices — 20%, 25% or 30%, for instance — they’re more likely to choose the middle option even if it’s more than the traditional 20%, according to an analysis of 13 million New York City taxi rides by the University of Chicago’s Booth School of Business and published in the American Economic Journal.

How your brain gets in the way of making smart money decisions

Yahoo Finance - Jul 12, 2016 Richard Thaler, behavioral economist at the University of Chicago Booth School of Business and author of the book “Nudge,” has suggested that retirement savers — especially those who have a long time horizon ¬— should invest in a globally diversified portfolio of stocks, “and then scrupulously avoid reading financial news articles or, even worse, watching financial news networks. Paying attention day-to-day is damaging to one’s financial and emotional well-being.”

Want to get closer to someone? Eat the same food

CBS News - Jul 12, 2016 Knowing that food brings people together, University of Chicago researchers wanted to test whether eating the exact same foods can heighten the rapport between two people, so they ran a series of three experiments to find out. "We tried to make it as incidental as possible," said study author Ayelet Fishbach, a professor of behavioral science and marketing at the University of Chicago's Booth School of Business. Article also appears in Medical Daily.

Economics study finds volume discounts don't increase profitability for video game

Phys.org - Jul 08, 2016 The results of the study by UChicago economists Steven Levitt, the William B. Ogden Professor of Economics, and John List, the Homer J. Livingston Professor of Economics, were published on July 5 in Proceedings of the National Academy of Sciences. Co-authors of the paper were Susanne Neckermann, an assistant professor at Erasmus University, and David Nelson of King.

Top MBA Recruiters: Boston Consulting Group

Beat the GMAT - Jul 08, 2016 8. Chicago Booth – 32 percent ($140,000) Read more » Translate » 2016-2017 Chicago Booth Recommendation Questions Beat the GMAT - Jul 08, 2016 The U. Chicago Booth MBA application is now live (following the announcement of the program’s deadlines and essay topic last month), meaning that the Booth MBA recommendation questions are now available for applicants targeting Chicago for the 2016-2017 admissions season.

A recipe for friendship: Similar food

Science Daily - Jul 08, 2016 "People tend to think that they use logic to make decisions, and they are largely unaware that food preferences can influence their thinking," says Ayelet Fishbach, a professor in the business school at the University of Chicago. "On a very basic level, food can be used strategically to help people work together and build trust."

Italy’s Plan for Banks Could Roil Europe

New York Times - Jul 07, 2016 Even if Italy is not given a green light to directly bail out its banks, Luigi Zingales, a professor at the University of Chicago, has suggested that the Cassa Depositi e Prestiti, a large investment entity controlled by the Italian government, could provide the bailout funds. Mr. Zingales was a critic of TARP and says that investors in the bonds of United States banks should have been made to participate in bail-ins. But, because of the retail investors, and the potential for financial panic, he says, “you cannot do the same thing in Italy.”

Will low interest rates drive up consumer spending?

Marketplace - Jul 07, 2016 Notes Randall Kroszner, a professor of economics at the University of Chicago's Booth School of Business who served from 2006-2009 as a Governor of the Federal Reserve System, there's a flip side to the coin that is low interest rates. "Why are the interest rates so low? Well, interest rates are low because there's a lot of economic uncertainty," he said.

Could a universal basic income really work?

Fiscal Times - Jul 07, 2016 Here in America, a group of 43 influential economists were polled recently by the University of Chicago (IGM) on a basic income scenario inspired by a Wall Street Journal opinion piece that argued for a basic income of $13,000 for every American. The article’s author, American Enterprise Institute author and political scientist Charles Murray, says under his plan, “the entire bureaucratic apparatus of government social workers would disappear, but Americans would still possess their historic sympathy and social concern.” Article also appears in MSN.com.

Why Trump and Clinton Are America's Most Disliked Presidential Candidates

Fortune - Jul 07, 2016 In an op-ed Assistant Professor Ed O'Brien writes, "A bad reputation comes from doing bad deeds. A good reputation, in contrast, requires not only doing good deeds, but also not doing bad deeds. People tend to judge immoral behaviors harshly and judge moral behaviors with skepticism, according to our study recently published in the journal Social Cognition.

That MBA is totally worth it, according to a Facebook-employee-turned-comedian

Chicago Tribune - Jul 06, 2016 Ollinger tells readers what business school is like, and what it takes to get a positive return on your MBA investment. He also ranks top business schools’ remoteness by their proximity to Cinnabon — Northwestern University’s Kellogg School of Management and University of Chicago’s Booth School of Business ranked second and sixth, respectively.

Business owners cope as Chicago's minimum wage creeps higher

Chicago Tribune - Jul 05, 2016 When the University of Chicago Booth School of Business asked a panel of more than three dozen economic experts last year whether the employment rate for low-wage workers would decline substantially if the federal minimum wage increased to $15 an hour by 2020, nearly 40 percent said they were uncertain. The rest of the responses were split relatively evenly, with slightly more people saying they agreed employment would be lower.

Surveillance: Weinberg, Steel, Hartnett, Zingales

Bloomberg (download link included) - Jul 05, 2016 Tom Keene and Francine Lacqua, filling in for Michael McKee, bring you the best in economics, finance, investment and international relations. Today in Surveillance, they discuss Italian banks with High Frequency Economics Founder, Carl Weinberg; gold with HSBC’s James Steel; global markets with Bank of America Merrill Lynch’s Michael Hartnett; and the Italian banking crisis with University of Chicago’s Luigi Zingales.

An Index of Uncertainty Surges After ‘Brexit’

New York Times - Jul 01, 2016 The three economics professors who compile the data — Scott Baker, Nick Bloom and Steven Davis — have shown that a rise in their index foreshadows lower investment, output and employment.

MEDIA OUTSIDE THE U.S.

Fed Signals Possible Rate Hikes Moving Forward

CNBC Asia - Jul 28, 2016 Randy Kroszner, professor at the Booth School of Business at the University of Chicago and former Fed governor, discusses the timing of the Fed's next rate hike, how much the global economy will factor into the decision and Shinzo Abe's stimulus package. He speaks to Bloomberg's Betty Liu and Yvonne Man on "Daybreak Asia." (Source: Bloomberg)

Do not miss the 2016 study in the United States to resolve the accounting profession TOP5

Sohu - Jul 19, 2016   (Translation)   NO2: University of Chicago (Booth), Booth School of Business as one of the nation's best business schools, many business schools among the top three rankings. Chicago as a financial center, the school finance professional financial, is first-rate. University of Chicago, a Nobel laureate in economics cradle (winner out of seven), also has the world's Nobel Prize winners than any other university. The school benefits from its super-class business school academic research level, enjoy "the most intellectual" fame. The school curriculum in mathematics particularly high level requirements, like to recruit high GMAT score, several theoretical background students.

The essential arrangements of Italian banks

Milenio.com - Jul 19, 2016 (Translation) "The Brexit was a spark in a nice place of gasoline," says Luigi Zinagles, professor of entrepreneurship and finances at the School of Business at the University of Chicago Booth

More intense on the first date if you eat the same things

GQ Italia - Jul 19, 2016 (Translation) The experiment was then repeated with a real meal, with similar results: the meeting was more pleasant and - above all - confidence increased when the guests shared the same food. This, said Ayelet Fishbach of the Business School of the University of Chicago, is an indicator of the protagonist role that food plays in our culture, even emotionally.

Our brains affect our financial decisions

Yahoo Noticias Brasil - Jul 15, 2016 (translated) Richard Thaler, a behavioral economist at the Booth School of Business at the University of Chicago and author of the book "Nudge," suggests that those who save for retirement - especially those who have a long-term horizon - should invest in a globally diversified portfolio of stocks , "and then avoid with all forces read news and financial articles, or worse, watching news channels on finance. Watch the portfolio every day is harmful to the financial and emotional well-being of the investor. "

Italian banks: Essential repairs

Financial Times - Jul 11, 2016 “Brexit was the spark in a place full of gasoline,” says Luigi Zingales, professor of entrepreneurship and finance at Chicago Booth University School of Business. “The issue is not only non-performing loans. There is a lack of credibility . . . of the Italian banks vis-à-vis the market. You cannot minimise problems for years and then be believed.” Article also appears in The Irish Times.

Ex-Fed governor: Fed is highly unlikely to raise rates in 2016

CNBC Asia (video) - Jul 07, 2016 Former Fed Governor Randy Kroszner says given the falling inflation expectations and the Brexit uncertainty will keep the Fed from tightening rates.

Will UK corporate tax rate cut cause more harm than good?

CNBC Asia (video) - Jul 07, 2016 The U.K. should link job creation to a pro-growth policy with lower corporate tax rates to gain more support, says Former Fed Governor Randy Kroszner.

MBA-toting evangelist for ‘art thinking’ at work

Financial Times - Jul 05, 2016 The Weatherhead School of Management at Case Western Reserve and the Rotman School of Management at the University of Toronto have integrated the disciplines of design into their curriculums, while Chicago Booth has a visiting artist (John Michael Schert) that teaches MBA and other masters students how the creative process can be translated into innovative thinking for the corporate world. Article includes link to previous article featuring Mr. Schert.

FT Masterclass: putting with Richard Thaler

Financial Times - Jul 01, 2016 The renowned US economist and co-author of ‘Nudge’ on how behavioural theories apply even on the putting green.

ALUMNI

5 Tips To Boost Your Odds of Raising Venture Capital

Inc.com - Jul 29, 2016 Ben Malka is a venture capitalist -- a partner with F-Prime Capital, the venture capital arm of Fidelity Investments, in Boston -- with an unusual background. And his five tips for entrepreneurs seeking capital reflects that unusual background -- yielding practical insights based on years of working with startups. Malka invests in early-stage Enterprise IT and FinTech companies for F-Prime Capital -- which he joined in 2015. He earned degrees in Quantitative Economics and Political Science from Stanford University and an MBA from University of Chicago.

Pimco’s New CEO Will Battle to Escape the Shadow of Bill Gross

Bloomberg/Washington Post - Jul 27, 2016 “When you look at the mutual fund industry, when you look at the way they manage your 401(k),” a grinning (alum) Emmanuel “Manny” Roman told a TED Talk in London, “it’s a really, really sad story.” Roman’s performance didn’t put off Dan Ivascyn, chief investment officer of Pacific Investment Management Co., one of that industry’s tarnished stars. After a nearly yearlong search, Ivascyn picked the hedge-fund veteran, who revived the fortunes of Man Group Plc, to inherit the mantle at Pimco, a firm battling to escape the shadow of its famous co-founder-turned-rival Bill Gross.

Coco Meers talks success as a female founder on Technori stage

Chicago Tribune - Jul 27, 2016 Meers left her job as a beauty industry marketing professional to go back to school in 2009 and get her MBA from the University of Chicago Booth School of Business. In 2012 she co-founded PrettyQuick, a spa and salon appointment-booking service. Groupon acquired her company last year.

Manny Roman’s career is a case study in impeccable timing

Financial Times - Jul 25, 2016 His friends have few doubts that he will settle easily into the sunnier climate. “He’s an intellectual in the old-fashioned sense: cerebral, smart and speaks his mind,” says Johannes Huth, who runs private equity firm KKR in Europe, and a friend of Mr Roman since they were MBA students at the University of Chicago.

Fashion’s Newest Frontier: The Disabled and the Displaced

New York Times - Jul 22, 2016 Mrs. Horton (who once designed children’s wear but stopped to start her family) and her company, MagnaReady, are part of a new sub-sector in fashion: what alum Chaitenya Razdan, the founder and chief executive of Care and Wear, has christened “healthwear.” The sector takes the tools and techniques (and trends) of fashion and applies them to the challenges created by illness and disability.

Donald Trump's Policies Imply He's No Forward-Thinking Businessman

Forbes - Jul 22, 2016 Alum Governor Jack Markell (Delaware) writes, "As an MBA from the University of Chicago and one of the first employees at Nextel, an executive at Comcast and a consultant at McKinsey, I built a career in business before entering public service. I learned that the only sustainable path to maximizing shareholder return was through policies of inclusion."

TMX Group Names Jay Rajarathinam CIO

The Wall Street Journal - Jul 19, 2016 Mr. Rajarathinam has a master’s degree in finance and strategy from the University of Chicago Booth School of Business, as well as a master’s degree in computer science from the University of Illinois at Chicago.

Argex Titanium Announces Closing of Private Placement and New Management Team

Yahoo Finance - Jul 14, 2016 The Corporation is also pleased to announce that Mr. Carroll Moore will be joining the new team as Chief Operating Officer. He will be leading a technical team of process engineers and chemists supported by external expert consultants. Mr. Moore, who obtained a Bachelor of Chemical Engineering, did graduate work in industrial engineering in addition to earning an MBA through the University of Chicago's Executive Program.

Evan Bayh wants to be a senator again. Why did he leave in the first place?

Washington Post - Jul 14, 2016 Bayh’s opponent this time is Todd Young, a former Marine who graduated from the United States Naval Academy, and has an MBA from the University of Chicago and a law degree from the University of Indiana.

Bob Mariano, CEO of Roundy's, to retire

Chicago Tribune - Jul 12, 2016 Chicago Booth alum Bob Mariano, the Roundy's CEO who launched the fast-growing Mariano's grocery chain in the Chicago area before negotiating the sale of Roundy's to Kroger earlier this year, will retire Sept. 1.

Chicagoan Joan Steel quits Hershey Trust board

Crain's Chicago Business - Jul 12, 2016 Joan Steel, founder and managing principal of Alpha Wealth Advisors, quit Hershey Trust's board over the weekend. Her resignation follows that of three other directors in late 2015 from the entity that controls a majority of Hershey's voting shares. ...Steel, who lives in the Chicago area, has an MBA from the University of Chicago's Booth School of Business and is active in civic matters.

Eyeing a break in Bollywood? TalentNext will connect you with the right people

Forbes India - Jul 11, 2016 Startup founded by Shekhar Purohit will help aspiring artists get in touch with the right production houses via their web and mobile site. “We had three purposes for this business. One is to enable casting directors to get global access to talent, second is to enable the talent to control their own destiny with complete transparency and professionalism, and thirdly, build India’s first end-to-end talent solution, right from profiling to first audition to finally being cast,” says Purohit, an MBA in strategy and finance from the University of Chicago Booth School of Business and former managing director, India, of Lionsgate Entertainment.

CityBase lands $6.25 million from KDWC

Crain's - Jul 08, 2016 The company was founded by Mike Duffy, an economics wonk who was an analyst watching interest rates at Northern Trust before getting his MBA at University of Chicago's Booth School of Business. He got the idea for CityBase while reading up studies about how government policy and infrastructure affected citizen behavior. He launched the product early last year.

Chevron chief executive makes exception to his strategy

Financial Times - Jul 08, 2016 The words “very smart” come up often when you ask about Mr (John) Watson. Raised in California, he studied agricultural economics at the University of California, Davis, and then quickly went on to an MBA at the University of Chicago. When he graduated there in 1980 he immediately joined Chevron as a financial analyst.

Zacks Investment Management Launches New Podcast

Yahoo Finance - Jul 06, 2016 Zacks Investment Management is launching its own podcast called The Steady Investor. It's aimed at using sound logic and proven strategies in longer term investing. "Far too often, we hear a lot of market commentary, forecasts and opinions on the stock market and retirement planning, yet you still ask--How does it all connect and affect me?" says Mitch Zacks, Managing Director and Portfolio Manager at Zacks Investment Management and host of the program. (Zacks) received his M.B.A with High Honors in his concentration of Analytic Finance and Statistics from the University of Chicago, where he was a member of Beta Gamma Sigma in 1999.

Why private equity's woman problem keeps getting worse

Crain's Chicago Business - Jul 05, 2016 Chrissie Pariso, 37, left Chicago private-equity firm Sterling Partners in 2010 to have her first child. She didn't plan to take a year, but she did. “It's amazing what a baby can do to your mind,” she says in explaining her decision to stay home after her maternity leave ended. A graduate of Georgetown University and the daughter of Taiwanese immigrants, Pariso got hooked on private equity as a student at the University of Chicago's Booth School of Business. A private-equity lab led her to a Sterling internship and later full-time employment.

STUDENTS

Students choose their must-read business books

Financial Times - Jul 05, 2016 ‘Zero to One’ by Peter Thiel: This book led me to think about building a successful new business as a process of uncovering “secrets” about people and how we live. It emphasises the discovery phase of starting a company — finding the right idea and the people who need it. Before attending Chicago Booth, I had not put enough focus on those aspects. Julia McInnis, Chicago Booth