Media Coverage: January 2008

The Sydney Morning Herald, 01/31/2008—Article mentions research by Donald Hambrick, Smeal Chaired Professor of Management. "Professors Gerard Sanders and Donald Hambrick analyzed the performance of 950 companies, finding that the chief executives who received most stock options were more likely to 'swing for the fences,' i.e., make risky decisions that were more likely to end in failure." (Putting Pay To Risky Business).

CentreDaily.com, 01/06/2008—Patrick Cataldo, associate dean for executive education, writes in his blog about his recent conversation with a corporate CEO. "With no prior discussion or prompting before the question, his talent concern was in total alignment with the comments of other senior executives I've spoken with recently," Cataldo writes. "Providing education and training for employees is the very best investment organizations can make for growing talent both now and into the future." (People - A Company's Most Important Asset).

Chicago Tribune, 01/30/2008—J. Edward Ketz, associate professor of accounting, comments on the federal government's response to the real estate market. "I think we're just going to have to let the market play out," Ketz said. "The proposals may be in the right direction, in part. But they're too little, and I think the situation has deteriorated too far." (More Bleak News On Housing Front).

Marketing Daily, 01/30/2008—Arvind Rangaswamy, Anchel Professor of Marketing, comments on research he co-authored on marketing during a recession. "If you read the paper, we used a sporting analogy. The best athletes punished the weaker opponents in the hardest part of the race," Rangaswamy said. "Suppose your company is good at developing advertising, and you have some slack resources. Now is the time to exploit that. Every dollar you spend now will be more advantageous because your competitors will not be able to take advantage." (Marketers Can Take Advantage Of Poor Economic Climate).

Chicago Tribune, 01/24/2008—J. Edward Ketz, associate professor of accounting, comments on banks' 10-K annual reports. "The banks may not be doing anything wrong or making mistakes, but I think there is a good chance there can be some updating," Ketz said. (Truest Look At Banking Still To Come).

WTAJ-TV, 01/23/2008—David Haushalter, clinical assistant professor of finance, comments on the evening news about a stock market training session held for school teachers in Smeal's Trading Room.

WTAJ-TV, 01/22/2008—Gary Gray, visiting professor of finance, comments on the noon news about the Fed's .75% rate cut.

Wireless News, 01/21/2008—News brief mentions the appointment of John Jordan, executive director of the Center for Digital Transformation, to the advisory board for the DEMO 08 technology conference. (DEMO Names Advisory Board).

Centre Daily Times, 01/20/2008—News brief on best paper award presented to Min Ding, associate professor of marketing. "Ding was recognized for his paper 'A Theory of Intraperson Games,' which appeared in the April 2007 issue of the journal." (Business People: Education).

The Times Leader (Wilkes-Barre), 01/19/2008—Austin Jaffe, chair of the Department of Insurance and Real Estate, comments on the Pennsylvania housing market. "[Jaffe] is not optimistic for strengthening in the near term, predicting continued sluggish sales and a further 10-15 percent decline in national average house prices this year. He expects less of a drop in Pennsylvania, and acknowledges, 'it could be there are local conditions which buck the trend.'" (Local Real Estate Market Slumps).

Central Penn Business Journal, 01/18/2008—Terrence Guay, clinical associate professor of international business, comments on policymakers concerns over the economy taking precedence over the weak U.S. dollar. "If that means the dollar gets weaker, well, that's probably seen as a side effect of the greater good of avoiding a recession," Guay said. (Fiscal Frailty).

GolfCourseNews.com, 01/17/2008—Article on Smeal's new Center for Sports Business Research. "Penn State's Smeal College of Business established a research center dedicated to the study of sports business. The Center for Sports Business Research will focus on the development of academic and applied empirical research in the sports industry, while helping to define educational opportunities for students looking to start careers in sports business." (Penn State Launches Research Center To Focus On Sports Business).

Street & Smith's SportsBusiness Daily, 01/16/2008—News brief on Smeal's new Center for Sports Business Research. "Penn State Univ.'s Smeal College of Business has established the Center for Sports Business Research. The center will work in conjunction with the university's communications and law sports research centers to bridge the gap between existing academic research on sports business and relevant practitioner issues in the industry." (Penn State Establishes Center For Sports Business Research).

NYTimes.com, 01/15/2008—J. Edward Ketz, associate professor of accounting, comments on a U.S. Supreme Court ruling that investors cannot sue third parties for helping a business to commit fraud.

Times Online (London), 01/15/2008—J. Edward Ketz, associate professor of accounting, comments on a U.S. Supreme Court ruling that investors cannot sue third parties for helping a business to commit fraud. "Investment bankers played a major role in facilitating the fraud at Enron" Ketz said. " The court's decision gives them and other investment bankers a free pass to assist managers in carrying out similar frauds in the future; indeed, in creating new vehicles by which managers can massage the accounting numbers. (Relief For Banks Facing Enron Litigation).

LawDragon.com, 01/15/2008—Blog entry includes comments by J. Edward Ketz, associate professor of accounting, on a U.S. Supreme Court ruling that investors cannot sue third parties for helping a business to commit fraud. "J. Edward Ketz, an associate professor of accounting at Penn State's Smeal College of Business, called the ruling 'a huge step backwards in the fight to prevent further accounting frauds from harming investors and the American economy.'" (Reactions To Stoneridge Decision).

Financial Week, 01/14/2008—Dennis Sheehan, associate dean of MBA programs, comments on activist investors. "Some of these campaigns might be taking that lesser step of shaking up the company's board, management or strategy," Sheehan said. "And the amount of capital at activist investors' disposal has risen dramatically in recent years, making them less dependent on credit to take meaningful positions in a firm." (Financing Squeeze Isn't Slowing Activists).

The Courier-Journal (Louisville, Ky.), 01/14/2008—Donald Hambrick, Smeal Chaired Professor of Management, comments on his narcissistic CEO research in light of a survey by USA Today asking CEOs if they mind when a subordinate drives a nicer car than they do. "I think we could reasonably expect that narcissistic CEOs can't stand to be outshined," Hambrick said. "Drive the Ferrari on weekends, and don't brag to the boss about getting your kid into the Ivy League." (Some Bosses Take Note Of Employees' Cars Too). This article originally appeared in December in USA Today.

The Chronicle of Higher Education, 01/14/2008—Blog entry on a piece by Donald Hambrick, Smeal Chaired Professor of Management, appearing on BusinessWeek.com. "Management journals' 'slavish devotion to theory' is stifling original research, according to a former president of the world's largest association devoted to management research and teaching. The critique appears in this week's BusinessWeek and is adapted from a longer article in the current Academy of Management Journal. (Former Academy Of Management President Says Journals Stifle Research).

BusinessWeek.com, 01/13/2008—Donald Hambrick, Smeal Chaired Professor of Management, writes in an op-ed about the state of management research. "Theory is critically important for our field, and we should remain committed to it. And, for sure, the greatest acclaim will always go to those who develop breakthrough theories. But there are other ways for knowledge to advance, and it is long past time we gave them their due." (The Theory Fetish: Too Much Of A Good Thing?).

BusinessWeek.com, 01/10/2008—Carrie Marcinkevage, MBA director of admissions, comments on how potential MBA candidates should approach webcam admissions interviews. "I think you could do two things: take it in a very professional direction and draw the attention away from the background so all the attention is on you, or you could use the background to develop a sense of who you are," Marcinkevage said. (Webcam Interviews Disconnect Imposters).

Financial Times, 01/10/2008—Donald Hambrick, Smeal Chaired Professor of Management, writes in a letter to the editor about the field of management research. "Michael Skapinker quotes me correctly in his column, but I beg to differ with his downbeat assessment of the current state of management scholarship," Hambrick writes. "This field is one of the youngest and fastest-growing of the social sciences." (Growing Pains, But A Bright Future For Management Scholars).

Financial Times, 01/08/2008—Donald Hambrick, Smeal Chaired Professor of Management, comments on management research. "Professor Hambrick says that academics in other fields 'don't feel the need to sprinkle mentions of theory on every page, like so much aromatic incense or holy water.'" (Why Business Ignores The Business Schools).

USA Today, 01/07/2008—Edward Glantz, clinical assistant professor of information systems, comments on communicating with his students via instant messenger. "It's just too easy not to use. Students can get a question answered really quickly," he said. "If they do anything to abuse it, it's an instant block forever. But that's very rare." (Professors Help Students Virtually).

Centre Daily Times, 01/06/2008—Patrick Cataldo, associate dean for executive education, writes in his column about the concerns of business executives. "What are the plans for action on the minds of CEOs and senior executives for 2008? In an election year, with fuel costs rising, a likely credit crunch, and the whisper of recession in the air, it's understandable that business leaders from all organizations face similar concerns." (What Keeps Business Executives Up At Night?).

CentreDaily.com, 01/06/2008—Patrick Cataldo, associate dean for executive education, writes in his blog about the concerns of business executives. "When you sum up the various concerns of senior leaders, a major theme that emerges comes down to one thing: people. While most CEOs are satisfied with their strategies, surveys note that many are less satisfied with their performance." (What Keeps Executives Up At Night?).

Bloomberg News, 01/04/2008—Fariborz Ghadar, director of the Center for Global Business Studies, comments on the rise in personal bankruptcies. "Short-term borrowings on credit cards likely drove the rise in individual bankruptcy filings last year, said Ghadar. 'Credit card borrowings are quite substantial,' Ghadar said, adding that any rise in the unemployment rate may prompt an even larger surge in bankruptcies." (Bankruptcy Filings Up 40 Percent Last Year).

StreetInsider.com, 01/04/2008—Austin Jaffe, chair of the Department of Insurance and Real Estate, comments on the Pennsylvania housing market in a news release issued by the Pennsylvania Association of Realtors. "We've lived through a period in which we've forgotten that housing provides shelter and user benefits for households," said Jaffe. "This is not the end of the world for the real estate industry, it's a return to basics that has served the industry for a long time." (PA Housing Market Keeps Steady As Other Markets Struggle). This article appeared on several news Web sites.

Pittsburgh Post-Gazette, 01/03/2008—Fariborz Ghadar, director of the Center for Global Business Studies, comments on the reasons behind the high price of oil. "We're not doing anything to encourage oil exploration and production," Ghadar said. "$100 is now not a plateau, it's a base ... it will continue to go up until we encourage production." (Oil Prices Hit $100; $4 Gasoline May Be Next).

BNet.com, 01/01/2008—Linda Treviño, Cook Fellow in Business Ethics, comments on integrity in MBA programs. "An MBA is often seen as a ticket to more lucrative employment, so perhaps getting the degree is more important to [students] than the knowledge gained along the way," Treviño said. "Along the same lines, it may be a 'bottom-line' mentality—that performance is what matters, not how you get there." (Five Hard Truths About The MBA).