Financing Strategies For “Nice” People, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
When It Comes To Their Finances, Nice Guys Fall Short – Columbia Business School News
According to new research co-authored by Columbia Business School‘s Sandra Matz, “people who describe themselves as ‘agreeable’ are strongly connected to a bleak financial future—including lower savings, higher debt, and a higher likelihood of becoming financially insolvent.”
Matz elaborates, “This research proves that being nice may win friends but it can cost a lot of money. This is especially true for those who start off with less money, as they have no financial safety net to compensate for their personal habits. Unfortunately, having a nice and warm personality—in the arena of business and finances—can often have real financial costs.”
According to the article, “Agreeable individuals perceive money to be less important than their more disagreeable counterparts, and consequently have, on average, worse financial health—which is measured by savings, debt, and default behaviors.”
“Nice Guys Finish Last: When and Why Agreeableness Is Associated With Economic Hardship” was published in the Journal of Personality and Social Psychology.
You can read more about Matz’s research here.
Opportunities Abound in Distressed Debt Investing – Gabelli Connect
The Fordham University Gabelli School of Business recently hosted a talk at its McNally Amphitheatre on the subject of “distressed debt investing,” a multi-trillion dollar industry in which “investors hunt for opportunities where they can purchase debt [with the hope] that the gambit will pay off eventually.”
Attendees were privy to first-hand accounts of distressed debt investments and legal advice from a variety of experts. Baupost Group partner Fred Fogel highlights the “importance of both curiosity and perseverance.” Paul Weiss Bankruptcy and Corporate Reorganization Co-Chair Alan Kornberg “encouraged those just starting out to get a feel for the process by sitting in on bankruptcy hearings.”
Former Wachtell Lipton Bankruptcy Department Head Chaim Fortgang emphasizes the creation and maintenance of “good working relationships.”
You can read more about the talk here.
Look to Entrepreneurs For What’s Next in Healthcare – Johnson Business Feed
The Johnson Business Feed interviewed visiting faculty member Elspeth Murray about the increasing demand for innovation in the healthcare industry, from the use of smartphones to the expansion of ambulatory care.
“Consumer behavior has changed, and that will begin to push on the healthcare system. At a certain point, healthcare practitioners are either going to lose patients or be forced to adopt new ways of treating and accommodating patients.”
She advises students returning to school to focus beyond their specialty and remain “open to taking risks and re-framing your view of the industry, and to be aware of what is happening outside of your bailiwick. Take a good look around at what’s happening and go for it.”
Murray’s 2002 book, Fast Forward: Organizational Change in 100 Days, which she co-authored with Peter R. Richardson, explores how “entrepreneurial thinking gives you the creative ideas and the juice and design thinking helps you see the problems to be solved in the right way.”
Check out the rest of the Murray interview here.
Rutgers Supply Chain Analytics Student Spends Summer at Amazon, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Beginning a Career in Supply Chain at Amazon – Rutgers Business School
Rutgers Business School exchange student Qiying Xu recently had an opportunity to put her supply chain management theory and Lean Six Sigma course work to use as part of an entry-level management position she will pursue at one of Amazon’s new fulfillment centers.
Xu writes that the Rutgers specialty master’s program in supply chain analytics gave her “the picture of the whole supply chain. The data analytics skills she’s accrued have almost single-handedly “changed the course of [her] career.”
You can read the full article on Xu’s work here.
Bridging the Gap Between Politics and Renewables – Johnson Business Feed
In a new op-ed with his alma mater, recent Johnson SOM graduate Mark DesMeules, MBA ’18, wrote about the role his school played in his career pivot from politics.
“I came to Johnson to accomplish what is colloquially known in the MBA world as a ‘career pivot.’ Prior to joining the Johnson community, I worked in politics in the nation’s capital—Washington DC. After gaining nearly five years of advocacy experience through my work with start-ups, non-profits, and Fortune 500s on intellectual property and technology policy issues, I decided to shift my career trajectory toward an industry I had always been passionate about: renewable energy.”
DesMeules writes that he was immediately sold on Johnson because of the school’s “robust academic and extracurricular offerings on sustainability and renewable energy.”
He elaborates, “At Johnson, I had the chance to explore the intersection of energy, sustainability, and business, all while becoming comfortable with ambiguity and complex business problems.”
“My Johnson colleagues, peers, and professors helped me learn, grow, and successfully pivot from the world of policy to the renewable energy industry. I am excited for the future and look forward to continuing to grow in the next chapter of my career.”
You can read the full op-ed from DesMeules here.
Governor Phil Murphy Selects Stevens to Announce New STEM Initiatives – Stevens Institute of Technology Blog
New Jersey Governor Phil Murphy recently visited Stevens Institute of Technology School of Business’ ABS Engineering Center to announce “two new STEM initiatives to retain highly-trained, technology-savvy college graduates in the state.”
The first is a “loan forgiveness program,” which will see “anyone who has worked in a STEM-related job in New Jersey for at least four years receive $2,000 per year, in years 5,6,7,8 at the same job, for a total benefit of $8,000. Employers and the state would split the covered amount 50/50.”
NJ Gov. Phil Murphy speaking at the Stevens Institute of Technology School of Business / Photo via stevens.edu
The second is an internship program for high school and college students in STEM fields, which reimburses “participating employers 50 percent of intern wages, up to $1,500 per student.”
Murphy said, “Stevens is one of the premier places where tomorrow’s leaders in innovation are learning the skills they will need to be successful and to change our world. If we are to grow the innovation economy again, we cannot lose our college graduates after graduation. I want them to stay here, in New Jersey, to be part of our economic future.”
Check out the full article here.
