Fox in the News
2008
Business Week, Forbes, MSN Money, Boston Globe, Seattle Times, many more, "Federal jury clears Chevron of Nigeria abuses"
December 2, 2008
A federal jury cleared Chevron of responsibility for human rights abuses during a protest in Nigeria a decade ago. Human rights groups had hoped the case would be the first successful use at trial of the Alien Tort Claims Act, which has been gathering dust for nearly 200 years. "It could become a major way for communities to hold companies accountable for their actions overseas," Lisa Calvano of Temple's Fox School of Business said in an AP story. "There is very little now to hold multinationals accountable for overseas actions."
WHYY-FM Radio
December 2, 2008
Despite economic hard times, Philadelphia's top non-profit arts and culture institutions are having few problems attracting CEOs. But CEO searches can be challenging for small non-profits. "Smaller organizations can be stuck because they can't afford to do an outside search," said Robert D. Hamilton III of Temple's Fox School of Business. "As a result, if they're small, it may keep them small. And if they're in trouble, and decide to avoid the executive search, that may create a downward cycle."
WHYY-FM Radio
December 1, 2008
The U.S. Small Business Administration joined experts -- including Eustace Kangaju, director of the Small Business Development Center at Temple's Fox School of Business -- to offer local small business owners tips on surviving the shaky economy. "The important thing is to get noticed," said Kangaju, who said that small businesses must keep advertising.
Newark Star-Ledger, " Who else will pull out of their 401(k)s?: As economy slides, more employees give up on retirement plans"
November 29, 2008
Many companies are suspending or reducing their contributions -- or "company matches" -- to employee retirement plans. The list of those that have already taken action includes General Motors and real estate firm Cushman & Wakefield. "I think if you eliminate a match for employees who didn't voluntarily enroll, you're much more likely to have a drop in participation among those individuals than you did in 2001 and 2002," said Jack VanDerhei of Temple's Fox School of Business.
Chronicle of Higher Education, "At Temple U., the City Is the Classroom"
November 28, 2008
A page-one story explored the "Philadelphia Experience" theme of Temple's new GenEd program, which provides students with hands-on educational experiences in the city. "The idea of place-based learning has been in practice for decades," wrote reporter Caitlin Moran, "but the breadth and formality of Temple's new approach sets it apart." Moran quoted Temple students Joseph Suddath and Andrew Freed, as well as President Ann Weaver Hart, GenEd directorTerry Halbert and Criminal Justice faculty member Ralph Taylor. A field trip to a local jazz club by Theater faculty member Doug Wager's "Creative Spirit" class was documented in photographs in the print edition.
Jewish Exponent, "All the Rage: See the employee at the next desk? Is she about to boil over and let you have it?"
November 26, 2008
Reports of "desk rage" -- employees lashing out at colleagues in the workplace -- are increasingly common. "People tend to confuse workplace anger and workplace aggression, but shouldn't," says Deanna Geddes, associate professor of human resource management in Temple 's Fox School of Business. "When people are angry, they may be frustrated about something, but not necessarily violent and aggressive. Anger is a signal that there is something wrong that needs to be addressed by managers."
Investor's Business Daily, "Sagging Share Prices Rock HMO Industry"
November 21, 2008
Sagging share prices are rocking the nation's big health management firms. Managed care corporate leaders can view changes as an opportunity, says Thomas Getzen, professor of risk, insurance and health management at Temple's Fox School of Business and author of the book Health Economics and Financing. "If I were a CEO I would be scared, but perhaps also excited by the prospect," Getzen said.
Philadelphia Business Journal, "Business schools scramble to adjust curricula after the Wall Street collapse"
November 19, 2008
As Wall Street collapsed, so too did Jonathan Scott’s syllabus for his "Introduction to Financial Markets" class at Temple's Fox School of Business. "I pretty much threw the plan out the window," Scott said. "And still as things transpire, I try to get them to think about what's going on in the markets." Faced a financial market meltdowns, Scott turned his class into a real-time laboratory for his students. At every session, they discuss the latest twists and turns, look at the underlying processes, and try to reason out why it happened.
Philadelphia Inquirer, "World's financial tremors shake China's confidence"
November 17, 2008
J. Jay Choi, professor of finance at Temple’s Fox School of Business, points out how the economies of China and the United States are interdependent. For example, American metal exporters feel the pain of factory closings 7,000 miles away. Choi once analyzed world economies at Chase Manhattan Bank.
Philadelphia Business Journal, "New Temple business school building comes into focus"
November 14, 2008
PBJ toured the new, state-of-the-art home of the Fox School of Business and the School of Tourism and Hospitality. The dean of the schools, M. Moshe Porat, thinks Alter Hall will enable Fox to capitalize on its high rankings in international business and entrepreneurship and the new faculty it has hired in recent years. "All of this will provide a tremendous momentum for us," Porat said.
TheStreet.com, "Gas Prices Won't Stay Down Forever"
November 14, 2008
Frederic Murphy of Temple’s Fox School of Business, who once oversaw medium-term forecasting models at the Energy Information Administration, says that "prices [for oil] climbing back to $100 per barrel over the next three or four years is not unreasonable. But, it's all subject to whether the global economy recovers.
Chicago Tribune, "Crisis chips at faith in stocks"
November 9, 2008
After a yearlong slide that has pushed major stock indexes down sharply from their record highs, many people are rethinking their once rock-solid allegiance to stocks, disregarding the advice of experts to stay put. Many investors had barely recovered from the 2000-02 downturn when the current one began in October 2007. And if they've kept contributing to their 401(k) or other retirement accounts, they're staring at far larger losses."Whereas, in the beginning of this decade their account balances might have just hit six figures, now they may be in the $200,000-to-$250,000 range," said Jack VanDerhei of Temple's Fox School of Business,"A 10 percent drop at $250,000 has a much bigger psychological impact on them than a 10 percent drop at $100,000."
Smart Money, "Bear Market Puts 401(k) Under Microscope"
November 6, 2008
With stocks falling, Americans fretting over their savings and Democrats winning Washington, criticism of the current 401(k) system is sure to get louder. House leaders have already started holding hearings. Some proposals are pretty drastic. "I'd be very hard-pressed to see something that would be realistic enough to have a chance of passing and something employers would still be interested in sponsoring," says Jack VanDerhei of Temple's Fox School of Business.
Philadelphia Inquirer, "What's that strange feeling?"
November 1, 2008
Fear. It's something Wall Street observers monitor, and one tool they use to do it is the volatility index, or VIX. October's wild market swings sent the VIX through the roof. "Now we're in uncharted territory," said finance expert Bruce Rader of Temple's Fox School of Business. All through the year, the VIX hovered around 20 to 30 percent, but in September it rose to a whopping 40 percent. But then came October, when it peaked at an all-time high of almost 90 percent. "It is a measure of how much people have panicked," said Rader.
Forbes, MSN Money, Condé Nast Portfolio, more, "Should a demand for change include 401(k) plans?"
October 30, 2008
The 401(k) retirement savings system has come under scrutiny since the economic meltdown pushed stocks lower, costing retirement plans an about $2 trillion in 15 months. Retirement security has been declining for years because people don't make good investment choices. Jack VanDerhei of Temple's Fox School of Business told the Associated Press that his recent studies show that about half of workers who are within 10 years of their target retirement date had more than 70 percent of their 401(k) funds in stocks.
USA Today, "401(k) losses: Older investors' retirement funds hit hard"
October 30, 2008
Older Americans are watching their retirement savings evaporate as the economy slumps and the stock market falters. During a bull market many workers were eager to invest part of their retirement savings in stock and stock mutual funds. But when older workers' investments are hit by a bear market, their financial futures change. If they don't have a pension plan and are relying only on a 401(k), the bear market will cut their retirement income by up to 17.7 percent, according to analysis by Jack VanDerhei of Temple's Fox School of Business.
USA Today, "More companies may end 401(k) match"
October 29, 2008
As the economy slows down, more companies are suspending matches of contributions to their employees' 401(k) retirement accounts. General Motors last week became the latest on a list of well-known companies trying to conserve cash by halting 401(k) matches. The match is easy to junk because it is essentially a form of profit-sharing by a company, says Jack VanDerhei of Temple's Fox School of Business.
South Florida Sun-Sentinel, "The Savings Game: Your investment strategies must evolve throughout your lifetime"
October 27, 2008
Nationally syndicated personal finance columnist Humberto Cruz explored investment risk. Many older Americans are heavily exposed to the stock market. While such high allocations to stocks may be appropriate for younger workers, "it is less certain that those approaching retirement would receive similar recommendations," Fox School of Business faculty member Jack VanDerhei told the House Education and Labor committee this month.
Poughkeepsie Journal (N.Y.), "To ease pain, plan to invest for the long haul"
October 26, 2008
Retirement recently got harder for Americans planning to unlock their stock portfolios. But experts say stocks usually rebound -- eventually. There are "no guarantees that we are going to have something within a person's life span that will get back to levels it had been," said Fox School of Business faculty member Jack VanDerhei. "But if you look at 10-year intervals over the past, typically that's always been the situation."
Stockton Record (California), "In the meantime ..."
October 19, 2008
Fuel prices are sliding after peaking this summer. So what will Americans pay for gas in one year? Five years? "No one knows," said Frederic Murphy, an expert on energy markets at Temple's Fox School of Business.
Fort Worth Star Telegram (Texas), "Even sports aren’t immune to the economic downturn"
October 19, 2008
In the old days, when the business model of sports franchises was built on ticket sales, sports were relatively immune from the effects of economic downturns. But things have changed. "[The current economic downturn] will have a different effect than it would have 15 or 20 and certainly 30 years ago," said Michael Leeds of Temple's Fox School of Business. "That's because sports teams and leagues have very much shifted their focus from the average fan to corporate interests. And that, I think, will come back to bite them a little bit."
USA Today, "Social Security recipients to get a raise in 2009"
October 17, 2008
Finally, there's some good news for retirees. More than 50 million seniors will see their Social Security benefits increase 5.8 percent next year, the biggest cost-of-living increase in more than 25 years. The increase will boost the average retiree's benefit check by $63 a month. While the increase looks dramatic, "They're going to give retirees just enough to compensate for what inflation is doing to them anyway," says Jack VanDerhei of Temple's Fox School of Business.
WHYY-FM
October 14, 2008
Will the financial stabilization plan restore confidence in the credit markets? "The initial answer is a resounding 'yes' as the stock markets around the world recorded record gains on Monday," said Bruce Rader a finance expert at Temple's Fox School of Business. "The real question will be if this package will have the same affect on the credit markets since they were closed yesterday due to the Columbus Day holiday."
Philadelphia Inquirer,"How electronic trading has added to market's volatility"
October 12, 2008
Online and electronic trading has added to the market's volatility and reactivity, according to experts. "Before, you had to call a broker; now, you can see the pain" on laptops or television screens, said Bruce Rader, assistant professor of finance at Temple's Fox School of Business. "So you are sitting here and you are down and you see that immediately. So I tend to think it makes people more reactive."
Philadelphia Inquirer, "Economic crisis a teaching moment for students, profs"
October 10, 2008
The ongoing economic crisis is providing valuable teaching moments for students and professors at business schools, who've had to scuttle curricula to engage breaking headlines. "I'm about two weeks off my syllabus…This is historic" said Jon Scott, a faculty member at Temple's Fox School of Business for 17 years. Before each class, Scott discusses the day's main headlines with his students. Though many business majors are worried about their job prospects, Scott has reassuring words for them. "The entire banking system is not in trouble," he said.
Daily Yomiuri (Japan), "RANTSZ 'N' RAVES: Tokyo has strong case in '16 bid"
October 8, 2008
Tokyo might win a bid to host the 2016 Olympic Games. But would winning be a blessing or a curse? Michael Leeds of Temple's Fox School of Business, a noted expert on sports economics, says cities understate costs and overstate the economic impact. "Athens spent 1.3 billion dollars on security alone," Leeds said. "Unless world peace suddenly breaks out....Security alone could be close to 3 billion dollars by then."
Washington Post, "Retirement Savings Lose $2 Trillion in 15 Months"
October 8, 2008
Americans' retirement plans have lost $2 trillion in the last 15 months. Employees between the ages of 56 and 65 who had the fewest years on the job were the least affected, while those 36 to 45 years old with the longest tenures suffered the steepest declines, said Jack L. VanDerhei of Temple's Fox School of Business.
WHYY Radio, "Radio Times with Marty Moss-Coane"
October 6, 2008
The U.S. banking industry is undergoing a period of consolidation with reports of bank mergers and takeovers dominating the business news. Jonathon Scott, associate professor of finance at Temple University's Fox School of Business, joined host Marty Moss-Coane in the studio to explore how the U.S. banking system works and what all this turmoil means to individual depositors, businesses and the overall health of the economy.
Philadelphia Inquirer, "Economic turmoil is real, and it feeds fear among us"
October 5, 2008
“These are the times that try men's psyches,” reported the Inquirer’s Stacy Burling. Frank Farley, a psychologist at Temple University, agreed. "It's hard to keep perspective and keep balance in that kind of atmosphere," he said. But financial experts advise against giving into the fear. Jonathon Scott, associate professor of finance at Temple's Fox School of Business, said the stock market fell sharply when U.S. troops went into Iraq, then rose quickly after the march into Baghdad. "If you weren't invested at that time, you would have missed most of the gain for that year." Investors have a habit, he said, of "buying high and selling low. That's not how you want to accumulate wealth."
Philadelphia Inquirer, "Economists: Harder times ahead a certainty"
September 30, 2008
Uncertainty around the credit markets remains the biggest problem and could lead to consumers and businesses' freezing, like deer caught in the economic headlights. "It's possible that we could scare everybody to death so they stop spending," said William C. Dunkelberg, economics professor at Temple University.
Asheville Citizen-Times (North Carolina), “‘Perfect storm’ led to worst shortage in decades.”
September 28, 2008
Although Hurricanes Gustav and Ike didn't hit with as much force as predicted, their timing created a major fuel shortage in the Southeast. Ike took out refineries in Houston that have more refining capacity than those that were knocked out by Hurricanes Katrina and Rita in 2005, said Frederic Murphy of Temple's Fox School of Business.
Financial Week, “Bank bailout may lead to broader pay curb.”
September 28, 2008
The federal government's bailout of banks may impact executive pay outside the financial services industry. Legislation to limit executive compensation was introduced in the U.S. Senate after being pushed through the House last year. "It’s a way to curb executive pay without imposing too many specific regulations and limitations on compensation," said Steve Balsam, a compensation expert at Temple's Fox School of Business.
Business Week, Miami Herald, CNBC, Forbes, U.S.News & World Report, Salon, many more. “A successful bailout? Watch lending between banks.”
September 28, 2008
In a widely distributed Associated Press report, experts offer their take on the federal government's biggest bailout since the Great Depression. Will the plan crafted by lawmakers revive fragile banks on Wall Street? "It's just a huge negative psychology that will be hard to turn around," said William Dunkelberg, chief economist for the National Federation of Independent Business and an economics professor at Temple.
Washington Post, “Smaller Banks Thrive Out of the Fray of Crisis”
September 26, 2008
While federal officials warned of an industry-wide collapse, many small banks seem to be thriving as deposits pour in from customers fleeing riskier investments, and qualified buyers are lining up for loans. "We collect money from local savers, and we lend it in the local community," said William Dunkelberg, a professor of economics at Temple and chairman of a small New Jersey bank. "We're doing fine. There are 9,000 financial institutions out there, and most of them are small and most of them are doing fine….If you can't get a loan, my advice is to go see your local community bank."
Czech Business Weekly, "CEE may escape worst of crisis"
September 22, 2008
J. Jay Choi, professor of finance and international business at Temple University in the U.S., told CBW that there is a continuing, systematic risk. “Even though some of these [institutions] can be and have been ‘rescued’ by stronger financial institutions or by U.S. government, this amounts to treatment of symptoms rather than causes,” he said.
CBS3, “Eye On The Economy: Frequently Asked Questions”
September 22, 2008
In an extended multimedia interview, finance expert Jonathan Scott of Temple's Fox School of Business offers his take on the financial market crisis -- and valuable advice about how the average consumer can respond. "For most consumers/investors, the best advice is to do nothing," said Scott. "Financial markets adjust…but always recover. Investing in the stock market is the only viable way to have sufficient wealth to enable a comfortable retirement."
Financial Times, “Hunt for donors in hard times”
September 22, 2008
How will the economic downturn impact fundraising at business schools? Development officers say that large capital gifts may not be affected by the slump, but the number of donors of smaller gifts is likely to decline. "In many ways the impact of economic downturns are intuitive," says Michael Burton, assistant dean for advancement at Temple's Fox School of Business. "When organizations and individuals feel wealthy, they are more inclined to make philanthropic commitments. When they do not feel wealthy, they are less inclined."
NBC10
September 21, 2008
Bruce Rader, assistant professor of finance at Temple's Fox School of Business, joined the set of "News 10 Today Weekend" for an extended discussion of the economy and the presidential election. "The next president, whoever it's going to be, is going to have some big problems that they're going to face," Rader said, citing "financial markets in disarray" and "massive debt."
The News Journal (Delaware), “Experts: Golden age has ended”
September 21, 2008
Wall Street is entering a period of painful change. The ongoing financial crisis is expected to trigger a huge regulatory crackdown that could impact the credit card industry, experts believe. Usury laws that limit excessive interest rates on loans could reappear. "There's no doubt Congress is going to come down on usury," said William Dunkelberg, an economics professor at Temple.
Philadelphia Inquirer, “Lenders lost moorings, some say”
September 21, 2008
Did Wall Street greed get in the way of good judgment? Proper risk management gets drummed into students, but when times are good, risk and ethics are frequently forgotten amid easy money. "I've been teaching all along about the evils of leverage," said Bruce Rader of Temple's Fox School of Business. "Firms that are too much leveraged expose themselves, just like individuals. If you borrow too much money and can't meet your cash flows, you go bankrupt. It's the same thing that's happening on the Street."
Reuters, "Main Street spared?"
September 19, 2008
The crisis on Wall Street hasn't hit Main Street, Temple economist William Dunkelberg told reporter Deborah Cohen. "We don’t have any evidence of a Main Street credit crunch," said Dunkelberg. "A credit crunch is when qualified people get a 'no' answer. If you're crashing and burning, of course the bank isn't going to lend you money….There are thousands of commercial banks out there -- if Bank A can't lend to you go talk to Bank B."
KYW News Radio
September 17, 2008
William Dunkelberg of Temple's Fox School of Business said that the global reach of AIG forced the Federal Reserve to rescue the troubled insurance giant. "If the Feds hadn't stepped in, the markets would be in tatters today because AIG is so massive and global and in so many businesses," said Dunkelberg. " We would have seen all kinds of distress in the market today [if the Fed had not bailed out AIG]."
Philadelphia Inquirer, "Outlook: Housing is weakest link as more banks falter"
September 16, 2008
Wall Street experienced a "horrid day" yesterday as the U.S. banking industry reeled. The U.S. has avoided a recession so far, but the housing sector of the market remained a threat. "I would feel a whole lot better if the housing market stabilized so that financial institutions could value these things," William Stull, chair of the economics department at Temple, said of mortgage-backed securities
Dallas Morning News, “John Goodman's influence felt in GOP policies”
September 12, 2008
Dallas health economist John Goodman has emerged as an influential voice -- and sometimes a controversial one -- among Republicans. He gained clout as one of the first to trumpet health savings accounts more than 20 years ago, said Thomas Getzen, a professor of health management at Temple's Fox School of Business. "I'm not sure he has direct political connections that give him political clout," Getzen said, "but he's certainly someone you'd want to talk to."
KYW News Radio
September 8, 2008
The federal takeover of lending agency giants Fannie Mae and Freddie Mac, although not a surprise, will come with some costs. The move could leave taxpayers footing a $1 trillion bill, says Forrest Huffman, a real estate expert at Temple's Fox School of Business. "I [also] would expect liquidity problems," Huffman said. "I would expect loan terms to become more stringent and more conservative as lenders realize that they have to hold onto more of the mortgages that they originate. And that would push up interest rates [and] costs."
Inside Higher Ed, “General Education in the City”
September 5, 2008
Temple’s new General Education undergraduate curriculum is changing the way the university and the city interact. Students are especially excited about “The Philadelphia Experience” portion of the new GenEd program. “They’re consciously interested in our city. They come here because of it,” says Terry Halbert, Temple University’s director of general education and a professor of legal studies in the Fox School of Business. “From an educational point of view, from a purely GenEd perspective, I like it because I know that the students already find this place interesting. So it’s the hook that we can use to make it more likely that they care about what they’re doing.”
Yahoo News, Politico.com, “McCain and the politics of mortality”
September 3, 2008
What are the chances of a 72-yaer-old man serving two terms as president? Actuary tables say there is a roughly 1-in-3 chance that a 72-year-old man will not reach the age of 80, which is how old McCain would be at the end of a second presidential term. And that doesn’t factor in individual medical history, such as McCain’s battles with potentially lethal skin cancer. “For a man, that’s above the expected lifetime at the present,” said Michael Powers, a professor of risk management and insurance at Temple University’s Fox School of Business.
WHYY Radio
September 2, 2008
Temple has reshaped its General Education curriculum to built “The Philadelphia Experience” into many of its classes. Beginning this fall, students in many GenEd courses will experience the city as a classroom, explains Terry Halbert, director of GenEd, and professor of legal studies in the Fox School of Business.
Philadelphia Inquirer, "Too many firms use jargon to convey ideas"
August 12, 2008
Reporter Stacey Burling wrote a column about businesses that stifle communication by using too much jargon, like “under-banked consumers” and “process optimization,” in their press releases and Web sites. In it, she lauded the Fox School for targeting this problem by “adding a business communications class this fall that will focus on clear, concise business writing and speaking.”
BusinessWeek, "Can women bridge the retirement savings gap?"
August 11, 2008
Women, who live longer than men on average, have less retirement money saved to enjoy their extended life spans. Jack VanDerhei, associate professor of Risk, Insurance and Healthcare Management, offered his expert opinion on the matter in a BusinessWeek article, stating that “the savings gap is expected to persist for the next 40 years.”
Duluth News Tribune, "Dropping SUV sales probably won't recover soon"
August 11, 2008
Before gas prices rose to $4 a gallon, SUVs were seen as a status symbol. Frederick Murphy, professor of management science and operations management, explained that this is no longer the case. “Since the recent fall in gas prices will not take is back to $1 per gallon for gasoline, and these vehicles no longer carry cachet, their market share will be reduced for a long time to come,” Murphy said.
NPR “All Things Considered,” “Economic Woes Force Many To Postpone Retirement”
August 3, 2008
Older workers are more concerned about their retirement than ever before. “Last year in 2007, 27 percent of active workers were very confident. That dropped all the way down to 18 percent this year, and that’s the single largest decline we’ve ever had,” said Jack VanDerhei, a professor at Temple University, and researcher at the Employee Benefit Research Institute in Washington, D.C. (Link)
Allentown Morning Call, "A moving target"
July 27, 2008
Writes Gail MarksJarvis: "Baby boomers who never got around to saving as much as they hoped promised to keep working past retirement age. The joke in the generation has been: 'I'll just work forever.' And the intent has shown up repeatedly in research. But now along comes an economic downturn, and people are losing jobs. It looks as though Plan B, a lifetime of working, might not be an option to rescue undersavers after all. 'It's a perfect storm,' said Jack VanDerhei, a Temple University professor and fellow at the Employee Benefit Research Institute."
Metro, "Reformers’ Roundtable The drop on DROP"
July 21, 2008
The city of Philadelphia’s Deferred Retirement Option Plan allows elected officials to start collecting their pensions early. Is it an option they should have? “Elected officials should be paid well enough so that they don’t need or hat the urge to make money on the side that would compromise their integrity,” said Frederic Murphy, Temple Fox School of Business professor of management science. “Given the relatively low salaries, they should be allowed to participate.”
Philadelphia Business Journal, "Business lending tougher"
July 11, 2008
Credit is tight this summer, even for good businesses seeking loans. "Last year, there were no standards," said William Dunkelberg, economics professor at Temple University and chairman of Liberty Bell Bank in Cherry Hill. "You just needed a pulse to get a loan. But banks are not venture capitalists. If there's no collateral or business history, they are supposed to be judicious
and make low-risk loans."
The Philadelphia Inquirer, "Pay and performance: The view from the top"
June 26, 2008
When it comes to keeping the best CEOs, the issue of salary is a significant one. Earlier this year, Rep. Henry Waxman called several corporate CEOs to a House hearing to have them justify their high salaries in light of low corporate performance. Did it have an impact? "The bottom line, they still went home to their mansions," said Steven Balsam, an accounting professor at Temple University and author of Executive Compensation: An Introduction to Practice & Theory.
Bucks County Courier-Times, "Hospital revenues up, but so are unpaid bills"
June 12, 2008
According to a new state health care cost analysis, most hospitals in the Bucks County area are seeing small profits. If profits fall below 2 percent for more than a year or two, hospitals face serious financial trouble, said Thomas Getzen of Temple's Fox School of Business. "You can't go too long without a positive margin," he said. "The hospital business is competitive. If you can't provide new amenities and new services, you're in trouble."
Philadelphia Inquirer, "Perk up: Economy isn't all that bad"
July 6, 2008
Despite gloomy media reports, local experts agree that the state of the economy may not be all that bad. William Dunkelberg, an economics professor at Temple's Fox School of Business and chief economist for the National Federation of Independent Business, said the economy was surprisingly strong. "The economy's not in recession," he said. "The positive is, look how resilient it is."
National Post (Canada), "Survival a creative exercise in rust belt cities"
June 6, 2008
Economic survival is a challenge in rust belt cities. Casinos and convention centers might produce hospitality jobs, but they cannot replace a healthy, industrial tax base. "It's like a stock portfolio: You need diversification," said William Stull, chair of economics at Temple's Fox School of Business. "Without it, you're carrying too much risk." Stull, who has just returned from a tour of extinct mining towns in southwest Montana, said that whether it is mining or manufacturing, industries across the continent have shrunk or vanished.
Chronicle of Higher Education, "Great, My Professor"
June 6, 2008
A Temple business professor has set up "Thank You Professor," a Web site that offers a positive alternative to the often hurtful feedback faculty members get at popular sites such as RateMyProfessor.com. The comments have been flooding in. "There are so many vehicles for students to express their opinion," says the site's creator, Samuel D. Hodge Jr., chair of the Fox School's Department of Legal Studies. "But there's nothing really at the school where the professor can get a letter directly from the student."
BBC World News
June 6, 2008
In a live report from Philadelphia, BBC World New explored unemployment pressures on young Americans looking for summer jobs. "It's going to be hard to get that summer job, because everyone is worried about the bottom line, cutting costs, and that means doing without one or two or more employees and consequently opportunities are down," said Temple economist William Dunkelberg.
U.S.News & World Report, " Health costs after 65: ouch, even with Medicare"
June 4, 2008
In her "On Health & Money" blog, Michelle Andrews describes healthcare costs for retired Americans. A recent study co-authored by Jack VanDerhei of Temple's Fox School of Business shows that a couple without employer-sponsored retiree coverage can expect to need anywhere from $194,000 to $635,000 to cover healthcare premiums and out-of-pocket costs during retirement.
Treasury and Risk magazine, "100 most influential people in finance"
June issue
Jack VanDerhei, professor at Temple's Fox School of Business, was selected as one of the 100 most influential people in finance for 2008. As research director of the Employee Benefits Research Institute, VanDerhei has his finger on the pulse of DC retirement plans.
CBS3,"Shoppers bracing for 'grocery gloom'"
May 29, 2008
Rising oil prices will hit the grocery store as much as the gas pump. "None of us really realizes how much of what we consume everyday is based on oil," said economics expert William Dunkelberg of Temple University. Essentially, any plastic item or anything wrapped in plastic is affected. Dunkelberg said the price increase will vary based on how much of a given chemical is in a product, but shoppers can expect to see some price increases in as soon as a week or two.
USA Today.com, "Rust Belt communities take a chance on tourism"
May 28, 2008
Former manufacturing towns like Erie, Pa., are hoping to buttress their economies with tourism. But William Stull, a professor of economics at
Temple University, warned that low-paying tourism jobs could not revive Rust Belt communities. To prop up shrinking tax bases, such towns must attract companies that hire educated workers, he said. Tourism could, however, force them to clean up and attract higher-end companies, Stull said. "There's no way that this [tourism] could possibly replace the jobs and the economic base in these areas," he said. "It's impossible."
Philadelphia Inquirer,"Once-industrial Erie turns toward tourism"
May 25, 2008
Former manufacturing towns like Erie, Pa., are hoping to buttress their economies with tourism. But William Stull, a professor of economics at
Temple University, warned that low-paying tourism jobs could not revive Rust Belt communities. To prop up shrinking tax bases, such towns must attract companies that hire educated workers, he said. Tourism could, however, force them to clean up and attract higher-end companies, Stull said. "There's no way that this [tourism] could possibly replace the jobs and the economic base in these areas," he said. "It's impossible."
Jewish Exponent, "Buying into cooperation"
May 22, 2008
Fox School of Business Dean Moshe Porat presented Warren V. "Pete" Musser the Yitzhak Rabin Public Service Award on behalf of the America-Israel Chamber of Commerce.
Philadelphia City Paper, "(Save Some) Green Grocer: Does Acme's tax-rebate deal make sense?"
May 14, 2008
Acme grocery chain is offering incentives if you spend your federal economic stimulus check with them. Does it make sense to use the check on groceries? William Stull, a professor of economics at Temple University, thinks so. He believes the tax rebates will stimulate spending, and sees the logic of programs like Acme's. "Look, food is pretty important," he says. "Prices for food are going up. It might be an advertising gimmick. But the rebate is supposed to be targeted toward spending, so there you go."
CN8 "Money Matter"
May 7, 2008
Fox School of Business professor William Dunkelberg discussed the growing use of credit cards in a slowing economy.
Azerbaijan Trend Capital, "The American dollar could face pressure should oil-producing countries refuse the sale of dollar in dollars.”
May 6, 2008
Dr. J. Jay Choi, Professor of Finance and International Business in Temple University, “Believes Iran's decision alone will not affect the value of the dollar very much. Iran does not much trade relations with the US now. If other major oil exporters follow suit, then pressure on the dollar would be more significant.”
Metro, "Shuttered program leaves city on hook"
May 5, 2008
Frederic Murphy, professor at the Fox School of Business, was one of three people discussing what should be done with programs like Safe and Sound. Murphy said City Council should pass legislation requiring thorough audits of all contracts with, the auditors reporting to council.
Philadelphia Inquirer, "Economy great - for pawnshops"
May 2, 2008
With the economy slowing and the price of everything from gasoline to food on the rise, one sector is doing great: pawnshops. "Upper-income people are in pawnshops nowadays, needing money right away to meet payments," said William Stull, chairman of the department of economics at Temple University's Fox School of Business and Management. "We are in an economy in which many people are living right at the margins, even middle- and upper-income people. They have little savings, they've borrowed so much, their credit-card bills are high, and their house values are going down."
WHYY radio
May 1, 2008
Fox School of Business professor Bruce B. Rader discussed the federal rebate checks and what impact, if any, they will have on the Philadelphia economy.
McClatchey News Service "Bush: Tapping ANWR would help lower gasoline prices"
April 30, 2008
President Bush is urging Congress to allow oil exploration in Alaska. Will it help expand supply and drop prices? Some energy experts say there's little Bush or anyone else can do in the short term to ease consumers' pain at the gas pump. "It's a world market, and the U.S. every year is a smaller player," said Frederic Murphy, a professor of operations management and management science at Philadelphia's Temple University.
Daily News "Q & A: Getting a handle on the economy"
April 30, 2008
What's going on with the economy and how does it affect the average consumer? Temple Fox School of Business finance professor Bruce B. Rader broke down the economic jargon in this Q&A.
Philadelphia Inquirer "China strains U.S. safety net"
April 25, 2008
Americans like the cheap goods we get from China. Some U.S. companies have invested heavily in China precisely because they wanted to avoid this country's rules, said Masaaki Kotabe, professor of international marketing at Temple University's Fox School of Business. As the economy suffers, he said, Americans are likely to be even more drawn to Chinese-made goods. The more cost-conscious they are, the more likely they are buying products from China, he said.
The Wall Street Journal online "The Pension Protection Act and 401(k)s"
April 22, 2008
Writes Fox School of Business Professor Jack VanDerhei: When Congress enacted the Pension Protection Act of 2006 (PPA), its primary focus--as the title indicates -- was on defined benefit pension plans, the type funded entirely by employers. Even though they are not in the title of the law, 401(k) plans also were significantly affected by PPA. In fact, the law opened the door for some of the most sweeping and beneficial changes in how 401(k)s operate -- both for the private-sector employers that sponsor these retirement plans and for the workers who participate in them.
NPR's "News & Notes" "Inside the Pennsylvania primary"
April 21, 2008
Temple student Jamira Burley and Thaddeus Mathis, professor of social administration and co-director of the Center for African American Research and Public Policy, joined News and Notes host Farai Chideya to discuss the democratic primary, gun laws and violence in Philadelphia. My brother's death really opened my eyes to the effect that guns have on the community-at-large and I decided to do something, said Burley who wants to see national and local administrators work to create tougher gun laws.
Philadelphia Inquirer "Do you have enough for retirement?"
April 20, 2008
Forget the scenes of blissful gray-haired couples prancing on exotic moonlit beaches. Replace the image with Mother Hubbard digging through the cupboard, or a gray-haired wretch toiling on the job long past 65, writes columnist Gail MarksJarvis. Most people retire without calculating what they will need, and fast-rising health-care costs are taking them by surprise, said Jack VanDerhei, a Temple University professor.
Fox Business Network "When it Comes to Retirement, Americans Remain Shaken, Not Stirred"
April 17, 2008
In her "Your $ Matters" column, Gail Buckner writes that Americans are starting to recognize that they haven't saved nearly enough for retirement. Jack Vanderhei of the Fox School of Business says that people's confidence about retirement issues has declined sharply -- a trend caused in part by media coverage and the presidential campaign, which has focused on Medicare funding problems and rising health costs.
University Business "Lecture Capture: A Fresh Look"
April issue
For a story on “lecture capture” technology, writer Ann McClure discussed the strides being made at the Fox School of Business. Associate Dean John DeAngelo discussed the quality control needs to make sure the system is producing a valuable final product.
CBS3
April 13, 2008
Food prices are on the rise and one basic reason is the increasing price of corn. Fox School of Business economist William Dunkelberg explains that corn and corn products like sweeteners are used in a wide variety of foods, so when corn prices rise, many other food items also get more expensive.
FOXNews, Pravda, FinancialWeek, Pittsburgh Post-Gazette, MSNBC
April 10, 2008
Eileen Alt Powell's Associated Press story on the increased worries of wage earners based on Jack VanDerhei's research continued to gain wide media play. VanDerhei is a professor at the Fox School of Business. More than 100 media outlets have used the story so far.
CN8 'Money Matters'
April 7, 2008
Fox School of Business Professor William Dunkelberg discussed several economics issues, including the declining state of home values and how rising energy costs are hurting businesses and families.
Philadelphia Business Journal "Disparate backgrounds unite 3 in IT honored by Fox School"
April 4, 2008
Three men being honored as technology leaders by Temple University's Fox School of Business on April 9 come from three different parts of the information-technology universe. The three are Cristóbal Conde, president and CEO of SunGard Data Systems Inc.; Joe Weiss, chairman of Electronic Ink Inc., based in Center City; and Matthew Charles Mullenweg founding developer of WordPress, an open-source software for publishing blogs.
(Toronto) Globe and Mail "All in the family, all in the workplace"
April 4, 2008
Business professors Alison Konrad of Ivey and Ph.D student Lisa Stickney of Temple University in Pennsylvania found that married women with "egalitarian attitudes" and supportive husbands have much greater earning power than women who feel compelled to rush home and take care of the household chores after work.
CN8 'Your Morning'
April 2, 2008
Fox School of Business Professor William Dunkelberg discussed the regulatory changes Treasury Secretary Henry Paulson has proposed for Wall Street.
ABC6
March 26, 2008
Students packed Temple's Mitten Hall for World Languages Day.
Vancouver Sun (Canada), "Lower pay linked to women's attitudes"
March 21, 2008
Married women who focus on their traditional role as homemakers may be to blame, at least in part, for earning less than married men in their careers, a university study suggests. A study co-authored by Lisa T. Stickney at Philadelphia's Fox School of Business and Management, Temple University, found a difference among married women's earnings, depending on their attitudes on the appropriate roles for women and men in the family and in wider society.
ABC6
March 17, 2008
Fox School of Business economist William Dunkelberg discussed the failure of banking giant Bear Sterns and what it signals about the banking industry.
Philadelphia Business Journal "Advice is cheap at business schools"
March 14, 2008
A number of local businesses are using Fox School students as consultants. Basically [students] are consultants at the undergraduate level -- that is unheard of, said Nicole DeSilvis, who teaches the schools international business capstone. Commenting on Fox Schools MBA requirement to consult, T.L. Hill, managing director of the enterprise management consulting practice, said, We like to think of it as an MBA residency.
CNN Money "Does Anyone Listen To Risk Managers?"
March 14, 2008
In the events leading to the subprime crisis, it's likely that the advice of some risk managers was ignored, said David Cummins, a professor of risk insurance at the Fox School of Business at Temple University in Philadelphia. Subprime mortgages were so profitable "that (business) people at firms weren't raising cautionary flags because they were making so much money. Risk managers may have blown the whistle but went unheeded," he said.
Metro
March 14, 2008
Examining the impact of the Foxwoods Casino in South Philadelphia on jobs, Metro reporter Solomon Leach writes that Fox School of Business Professor Fred Murphy projects a net loss of almost 6,000 jobs thanks to other businesses that will suffer a loss of revenue, although it is uncertain how many of those will be in the community.
Biz Ed, "Measures of Success"
March/April
An article on assessment for undergraduate programs explains that when Temple University Fox School faculty found that students needed to improve their ability to integrate information across disciplines they created a junior-level course built around a Capstone computer simulation to address this issue.
CN8, "Art Fennel Reports"
March 11, 2008
Fox School of Business Professor Bruce Rader discussed general conditions in the overall economy and the credit markets, and looked ahead to the impact on employment and the growing probability of a recession.
Bloomberg News
March 4, 2008
Fox School of Economics Professor William Dunkelberg appeared on a Bloomberg election panel discussing the potential impact of each candidate¹s election on the economy.
San Diego Union-Tribune, "Reviewing for a test could be just a click away on your iPod"
March 4, 2008
Writes Sherry Saavedra: "Today's classrooms are increasingly high-tech with electronic chalkboards that work like touch-screen computers, wireless access, Web cams and clickers that use infrared rays to project students' responses on a screen. So perhaps it was inevitable that an electronic version of the daily class lecture is now available to students anytime, anywhere." Saavedra notes that more than 50 classes at Temple's Fox School of Business are recorded and available for later download.
Philadelphia Inquirer, "Annette John-Hall: Can't the mint just make us all some money?"
February 29, 2008
Columnist Annette John Hall suggests that if the economy needs a boost, the mint should just make more money. Her plan wouldn't be so bad, except the money might not make it into circulation. Save or spend? What makes sense for the person doesn't necessarily make sense for the country, says Temple economics professor William Stull.
Metro
February 25, 2008
In the Reformer's Roundtable section, Fox School of Business professor Frederic Murphy talks about Mayor Michael Nutter¹s first budget proposal. The mayor should budget conservatively this year and use any surplus at the end of the year as a down payment for the rainy day fun, advised Murphy.
Philadelphia Inquirer, "John G. McKevitt: Temple administrator, 88"
February 16, 2008
John G. McKevitt, a retired Temple University administrator, died three days before his 89th birthday. For 13 years, McKevitt was involved with planning for Temple's city and suburban campuses. His projects included the construction of a computer center, Dixon Hall at Temple's Ambler campus, and the expansion of the dental school. He retired in 1982 as associate vice president for planning.
Jewish Exponent, "Getting down"
February 14, 2008
The Exponent ran a photo of Dean M. Moshe Porat of the Fox School at Temple University, Howard Cohen, special assistant to the dean and industrialist/ author/Holocaust survivor Gordon Zacks. Zacks recently addressed faculty and students about the roots of genocide and the ethical willpower needed to battle it.
KYW, "Local expert calls mortgage bailout program 'window dressing'"
February 12, 2008
The Bush administration has announced a bailout plan for some homeowners facing foreclosure because they can't pay the mortgage. Dr. Jonathan Scott, associate professor of finance at Temple University, says this won't help much, because property values and family finances aren't likely to improve in one month. He's also concerned about the precedent being set by the program:
"If you're going to do this for these homeowners, what's next? What about auto loans, where people may have made bad decisions about how much they wanted to borrow for a car? Or consumer loans? What about commercial mortgages that are showing signs of distress?"
Philadelphia Inquirer,"Chester stadium: Two views"
February 12, 2008
Is a pro soccer stadium in Chester worth millions of public dollars? Academics who have researched the economic impacts of a new stadium are
skeptical. "Plopping down a stadium," said Temple University assistant dean Michael Leeds, coauthor of The Economics of Sports, "does nothing for a city."
KYW
February 11, 2008
Looking for a new job? Try using social networking sites, suggests Corinne Snell from the Fox School of Business Center for Student Professional Development. Snell talked with reporter Hadas Kuznits in this podcast report.
KYW, "Temple students provide income-sensitive tax assistance"
February 9, 2008
This tax season, college students in Montgomery County are helping low-income residents file their tax returns. Students at Temple University's Ambler campus have been trained to help low and moderate income families file their state and federal taxes. According to Fox School of Business accounting professor Steven Balsam, it's a win-win situation. Taxpayers get free help and the students practice their skills.
Metro, "Reformers’ Roundtable: A 3-1-1 system"
February 4, 2008
In "Reformers Roundtable," Frederic Murphy, a professor of management science/operations management at Temple's Fox School of Business, explained the benefits of a 3-1-1 system, a non-emergency telephone service used by some communities to improve citizens' access to municipal services. "One of the great features of a 3-1-1 system," Murphy said, "is that what people call about shows what is important. Let the callers tell the government leaders rather than the other way around."
Los Angeles Times, "High anxiety for 401(k) investors"
January 30, 2008
A shaky stock market could have a big impact on private retirement plans. Given the public's growing dependence on 401(k) accounts, a deep or prolonged downturn in the markets could have a broad societal impact, said Jack VanDerhei, a retirement specialist at Temple University. "Without a doubt -- comparing where we are today with 401(k) plans as the primary form of retirement savings for many baby boomers -- the impact of a down equity market has a much bigger impact on society than when traditional pensions were the primary form of retirement income," VanDerhei said.
USA Today, "Turning 62: Research, caution help in handling lump sum"
January 28, 2008
Without adequate planning, the exorbitant cost of nursing home care can deplete your retirement portfolio. Middle-income consumers are most at risk of being squeezed, says Jack VanDerhei, a fellow at the Employee Benefit Research Institute and a business professor at Temple's Fox School of Business. That's because they likely won't qualify for Medicaid, VanDerhei says, and might not be able to afford nursing home care.
Ft. Worth Star-Telegram, "Lean economy may hinder Cowboys stadium naming rights deal"
January 28, 2008
The new Dallas Cowboys stadium still doesn't have a name, and experts say it could be difficult for a company to defend a multimillion-dollar marketing deal to its shareholders and employees. In a study co-authored by Michael Leeds, associate professor of economics at Temple, the authors found that most naming rights offer "no economic value" to the companies that buy them. And given the national economic woes, Leeds said that more companies will be reluctant to pursue such deals. "In general, such budgets, like luxury box sales, take a hit during economic slumps," Leeds said.
Philadelphia Inquirer, Associated Press, "Pugilist, thespian - now a scholar"
January 27, 2008
Sunday's front-page story explores the extraordinary saga of Randall "Tex" Cobb, the former boxer and actor who, at age 54, just earned a bachelor's degree, magna cum laude, from Temple's School of Tourism and Hospitality Management. Cobb decided to go back to college a little over three years ago. During his time as a student, he also worked construction jobs in the Philadelphia area. "This was no honorary degree," said Assistant Dean Jeffrey Montague. "He worked hard for this. He's a tremendous guy, a very, very genuine person. Some of the same qualities that made him a successful boxer made him a great student."
Clarion-Ledger (Jackson, Miss.), "Employers abandoning pensions"
January 27, 2008
After World War II, many companies set up pension plans that promised each employee a specific monthly benefit at retirement and required no investment decisions on the employee's part, said Jack VanDerhei, a Temple pension specialist. "The trend ever since 1974 has been moving in favor of defined contribution 401(k) plans," VanDerhei said. "The pace has picked up a lot in the last two years because of large pension plan sponsors doing pension plan freezes."
Bucks County Courier Times, Metro, "No one knows for sure how plan will help the average American"
January 25, 2008
It's too soon to tell what impact, if any, the federal economic stimulus package will have on the economy.This is called discretionary fiscal policy, William Dunkelberg, a professor of economics at Temple University's Fox School of Business told the Courier Times. It's always too late. And it looks like it's too little.
CN8, Arthur Fennel Reports
January 23, 2008
Fox School of Business Research Assistant Professor of Finance Bruce Rader discussed the Fed¹s interest rate cut and its intended impact on the stock market. Rader advised investors to stay calm about the economy.
Pittsburg Tribune Review, Newport News (Va.) Daily Press, "Government mess times 2"
January 23, 2008
Columnist Walter Williams believes the Bush administrations plan to help those caught in the subprime loan problem will cause even bigger issues. To support his argument, Williams points out that according to Temple University professor of economics William Dunkelberg 96 percent of all mortgages are being paid on time; 30 percent of American homeowners have no mortgage; delinquency rates were higher in the 1980s than they are today; only 2 percent to 3 percent of all mortgages are in foreclosure; and the government bailout helps a few people at a huge cost to the rest of the economy.
Reuters, "Tips for small businesses on surviving a recession"
January 22, 2008
With lean times ahead, small business owners need to husband their cash. Bill Dunkelberg, chief economist for the National Federation of Independent Businesses and a business professor at Temple University, advises small companies to keep their inventories lean. Don't spend your money, your cash, on things you can't liquidate, Dunkelberg says. Be careful not to be lured by government inducements such as low interest rates or tax credits.
CIO Insight, "Should CIOs Report to CEOs or CFOs?"
January 21, 2008
Temple Fox School of Business professor Rajiv Banker says conventional reporting structures at many companies will not produce the desired results.
The Scientist, "Academia plays a part in keeping graduates in the region"
January 2008
At Temple University, many students already have roots in the region, "so we have a vested interest as a university to really create job opportunities for them," says Chris Pavlides, executive director of the Innovation and Entrepreneurship Institute (IEI) at Temple's Fox School of Business.
Philadelphia Inquirer, "Urban Outfitters is going green"
January 19, 2008
This spring Urban Outfitters will sprout a new store concept named Terrain, launching it with the purchase of J. Franklin Styer Nurseries Inc., a
well-known garden center on Baltimore Pike in Concordville, near Chadds Ford. Temple University marketing professor Michael Smith said Urban's plan is all about margin diversification.
Bucks County Courier Times, "Levitt and Sons now bankrupt"
January 18, 2008
The burst in the housing market bubble is having a varied impact around the country. Florida, the Southwest, California, New York - the places that saw the biggest increase in housing values over the last five or six years - are now seeing the biggest declines. That's why you see a lot of foreclosures in Florida, said Forrest Huffman, a professor of real estate and finance at the Fox School of Business at Temple University.
Biz Ed magazine
January/February 2008
In it's research section, this month's issue includes an article, "Lower Pay Reflects Bias Against Women Execs" based on Fox School of Business professor Rajiv Banker's research on "The Gender Pay Gap in the Board Room: Are Women Executives Underpaid?" The study focused on whether and why women in positions of leadership were paid less than their male counterparts.
CN8 'Art Fennell Reports'
January 7, 2008
Fox School of Business economics professor Bruce Rader discussed the economic outlook for 2008 during an interview with Art Fennell.
Jewish Exponent, "Bad Neighbor!"
January 4, 2008
A bad neighbor can hurt the sale of your home. Forrest Huffman, Ph.D., professor of real estate and finance at Temple University Fox School of Business, noted that bad neighbors are recognized as a nuisance legally. "The issue of bad neighbors is well-documented in nuisance law, zoning codes and deed restrictions, to some extent, but there is little research evidence from academia that I know about," he said.
Maeil Business Newspaper
Jan. 2, 2008
Dr. J. Jay Choi, Professor of Finance and International Business in Temple University, warned, “about the systemic risk of US investment banking because of excess risk taking and the use of ‘innovated’ financial products without clear understanding and government oversight.”
