BEHREND BEACON Business February 12, 2010 www.thebehrendbeacon.com School of Business: Upcoming Events MONDAY, FEB. 15 7:00 P.M. Speaker: Lorenzo Simonelli, CEO of GE Transportation Event: "CEO Conversation" Location: REDC 180 THURSDAY, FEB. 25 7:00 P.M. Speaker: Dr. Benjamin Powell Event: "Sweatshops and Third World Living Standards: Are the Jobs Worth the Sweat?" Location: REDC 180 THURSDAY, M. 18 5:30 P.M. - 7:00 P.M. Speaker: Stuart Varney, business and financial journalist for FOX News Event: "Sweatshops and Third World Living Standards: Are the Jobs Worth the Sweat?" Location: REDC 180 World & National Business News E.U. votes to aid Greece The 27 countries of the European Union voted Thursday, Feb. 11 to aid Greece during its debt crisis. However, the leaders of the EU gave no details on immediate assistance to the gov ernment, and stressed that Greece had a long way to go to "clean up" its pub lic finances. Greek governmental leaders made clear that they had not asked for any financial assistance, and promised to reduce its national deficit by four per cent of its national budget. That effort would be monitored by the Interna tional Monetary Fund, the European Commission, and the European Cen tral Bank, according to the statement from the EU. Finance ministers will meet Monday to discuss additional actions, amidst fears that Greece's debt situation will devalue the Euro. Following the EU's pledge, U.S. stocks rose to their highest level this week. Motorola to split into two publicly-traded companies Next year, Motorola Inc. will divide its operations into two publicly-traded companies, according to a company press release. One of the independent companies will include the corpora tion's Mobile Devices and Home busi nesses, and the other will include its Enterprise Mobility Solutions and Net works businesses, according to the re lease. "We believe this structure provides significant operational and strategic flexibility for both companies, posi tions them for future success, and en- hances long-term shareholder value," said David Dorman, chairman of the Motorola Board of Directors. Motorola plans to effect the split through a "tax-free stock dividend of shares in the new company to Mo torola shareholders. They expect the split to occur in the first quarter of 2011. Andaleeb promoted to distinguished professor ARICA CHRISTMAN business reporter • marketing major Dr. Saad Andaleeb a Professor of Marketing at Penn State Behrend, has been promoted to the position of Dis tinguished Professor of Marketing. He is one of only two faculty mem bers at Penn State Behrend to hold the position. Andaleeb is originally from Bangladesh, but completed his MBA in the United States before returning home to teach at the Institute of Busi ness Administration at the University of Daka. After teaching for six years, Andaleeb got his Ph. D. from the Uni versity of Illinois at Urbana- Cham paign. His exit from a Big 10 school fueled his expectations to teach at a school that matched his own caliber of edu cation. After being at Penn State for 21 years, Andaleeb was honored with the recognition of Distinguished Profes sor, a credit given by the University. His service teaching and research were important to Penn State in their decision to recognize Andaleeb with this award. However, research has also been very important to Andaleeb throughout his career. His own research is mainly concen trated in the field of health care and services. However, Andaleeb also makes it his priority to expand his re search to other countries. This is be cause he believes research is a huge part of the aquisition of knowledge. "In a university, you cannot just teach, you have to do research, and your teaching has to be embellished Business Itzterruihips availabie: Bank of America Amelorholittal AstraZeneca Pharmaceuticals Technology Analyst Staff Accountant and ' Global Operations Associate - Intern Program Firitmcild Analyst Supply Chain More information on internships and full time positions can be found online at: littp://www.pserie.psu.eduistudentialeionesmit by your research, this will make you a fuller academic," he said. "By combin ing your research with your teaching, you can bring fresh, real-world per spectives to the classroom." Knowledge is so important to Dr. Andaleeb that he has been training faculty members in Bangladesh in order to develop research capacity. "I am a product of Bangladesh orig inally," he said. "My whole back ground was created in Bangladesh, so I feel a responsibility to give back to the nation." He found that textbooks used in Bangladesh were written by U.S. or British authors and urged them to cre ate their own knowledge that will an- arket Watch: The Coming Aftershock EE COUSIN Mowing article con a speculative opinion teeming the financial iarkets in the United States and does not iecessarily reflect the opinion of the staff at to Behrend Beacon. [thor of this article is mt, not a certified fi professional (at least t). Therefore the au not responsible for tcome of any invest decisions that are lased on the opinions (resented here. Penn State Behrend Marketing Dr. Saad Andaleeb. In the past several months, there has been a great deal of speculation as to whether or not the United States is through the worst of the recession. Many peo ple are of the opinion that the worst is over. However, I am inclined to dis agree. I believe that on the hori zon is a quietly approaching threat. I believe that very soon we will be hit by a secondary shock to the market place that will yet again shake the fragility of con sumer confidence. But before I get into that, allow me to present you with a quick digression. Many believe that the current woes started with mortgage backed securities and other com plex financial derivatives. But, ladies and gentleman, these prob lems were really caused by a big (814) 824-8282 not be combined with an, • DR. &MD ANDALEEB COMMIS TAUGHT: B ADM 550; Global Marketing B ADM 514: Service Marketing MRICM 342: Ming Research MOO 330: Swelters Marketing MIED3 445 t Global Marketing Mme. 495 1 Internship MPXYI3 496: Independent Student Studies 501: Marketing AIM 541: Marketing Research hINBETO 596: hufividual Studies , *BM WA: International Marketing EDUCATION: Ph, D.- U. of Illinois Urbana-Champagne ACCOLADES: • Eseesimen in Research Award, 2000 Penn State Erie Council of Fellows Best;PaPer Award, 1998 Atlantic Marketing Association Profligate of the Year, 1993-94 Graduate Student Association Penn State Sehrend swer the problems of their particular situation, economically and otherwise. Andaleeb has since trained over 60 scholars who are now on their way to generating and creating indigenous knowledge. Many of those he has trained have started their Ph. D. over seas or started to publish in interna tional journals. Dr. Andaleeb has not only strived to build up research in Bangladesh. He has also begun to build up literature on the country itself. He has started the "Journal of Bangladesh Studies" of which he has been the editor for 11 years. This journal presently goes to prestigious universities such as Princeton, Columbia, and Berkley. giant dose of irresponsibility and plain old-fashioned stupidity. Granting half-million dollar mort gages to people who can't afford them is just plain irresponsible. The history of irresponsibility can find its origins in the Bible, back to when Adam blamed his irre sponsibility on Eve. But I digress. It was irresponsibility and greed that gave birth to this crisis, not derivatives. Derivatives are sim ply tools. They will bless you if you use them the way they were "designed" to be used. However when you don't know the purpose for a thing you will abuse it, and boy was there a lot of abuse. So back to the doom and gloom and secondary shock stuff. Up until this point the banks have had to hold onto their bad assets. But very soon I believe that the other discounts, coui Andaleeb's goal in this effort is "to be a bridge between two nations where I can take the good things of both." One way Andaleeb reaches this goal is through his teaching. He strives to reach his students rather than simply to teach them. "I bring cultural aspects of Bangladesh to my class so people can be aware of another people, in other nations, how they live, and a better un derstanding of who we are in different parts of the world," he said. "Without that, we will not have global peace, global sharing, or global cooperation. All of that comes when we begin to un derstand each other." He believes that it is very important that students truly challenge them selves for their four years of college. "You can have fun now but you will pay later because you have not learned, or you can pay now by giving up some of that fun and really enjoy later," he said. Continuous learning is a theme of the life of Andaleeb. "Every single day I am learning. Learning never stops - the day you stop learning is the day you become obsolete." Overall, Dr. Andaleeb hopes to make an imprint on the world. "I want to put in my little one penny towards global peace, global harmony, global understanding, so that we can make progress. Conflict holds us back; cooperation can make us all go for ward," he states. "Hopefully through education we will have this quiet rev olution where people become better human beings, understand each other, and can take the world forward." banks are going to start unloading these assets in mass quantities. So what does this mean for you and me? When the banks start unloading their mortgage assets, the market will become saturated with real estate. That means the prices of homes are going to go way down. If I had $1 million to invest (hint hint, FIN 420 classes), I would take a short position on any mort gage-based equity, commodity or future I could get my hands on. That way if and when this unload ing occurs, you will be in a posi tion to benefit from the losses. Now I could be completely wrong about everything that I have pre sented above, but that's the beauty of being a student. If you are wrong, people will just call you a stupid kid and move on. Beacon Business Staff Business Editor Garrett Carson • MIS / Finance major Business Writers Arica Christman • Marketing major Akeern Mclntosh • MIS major Harmilee Cousin 111 • Business Economics / I .00 p.m. ons, deals, or sl Finance major
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