Students invest real money in finance course

Fred Dickson, the Chief Investment Strategist from DA Davidson, spoke at USU tonight. He emphasized the importance of gaining experience in the field before you graduate from college. In fact, one of the big reasons for his visit was to reward the Jon M. Huntsman School of Business as a result of investments by a group of students.

Students in Paul Fjeldsted’s Investing Practicum class have a unique opportunity to invest real money. DA Davidson donated $50,000 for this purpose. When the investments work out, DA Davidson cuts a check to the school. Tonight, Mr. Dickson presented the school with a check for $1,500. Before presenting the check, Mr. Dickson praised the efforts of the school in promoting real-life involvement.  

It never hurts to ask

Recently, I wrote a blog post about an article by Jeff Haden, a blogger for CBS. After reading the article, I was left with a question: "What can I do to get a business to notice me in the sea of other applicants?"

I wrote him and asked the same question. He wrote an article, posted it, and sent me a link.

I can't say he did this just because I asked, but one thing I've learned in life is that it never hurts to write people letters. You often get something for your trouble.

So what did he have to say?

First, determine who you want to work for. Not just what industry, but narrow it down to specific businesses. Then get to know the company and think about what you can offer immediately, then tell them. One of my professors already suggested this to me as a potential job search option, but didn't go quite so far as to have a show-and-tell presentation ready.

Paul Lewis Siddoway

Another thing Haden said that I really liked was, "Don't be afraid to take charge of the interview." Obviously, it's not an ideal thing in every job interview situation. And you should always go into the interview with questions about the company that show you've done some research into what they do, but I would imagine the interviewer would get bored asking the same questions. Engaging in a conversation would probably be nice for them, too.

Haden also gave advice for the people on the other side of the interview. Mainly, employees should show they are willing to work for the company, not just fulfill their job description.

One thing Haden said reminded me of the account of Sir Ernest Shackleton, an Antarctic explorer. If you haven't read the story of the Imperial Trans-Antarctic Expedition, you need to. At least check out the Wikipedia page. When I think of leadership, I turn to Shackleton first.

When he was outfitting his expedition to the South Pole in 1914, he got more than 5,000 applications for 28 spots. The semi-finalists for the positions were chosen based on skill. The men who ended up going on the expedition were chosen based on personality and how personable they were. Shackleton knew they would be in close quarters for long periods of time. Besides himself, only two of his men had previous experience in the Antarctic.

Haden said it may be more important to hire someone with a little personality that can learn the job than someone who would be a great employee, but a horrible co-worker.

- Paul Lewis Siddoway

"Big Four" CEO, USU graduate to speak on Wednesday

James Quigley

This Wednesday, we will have the opportunity to hear from one of our most distinguished alumni. James Quigley, who graduated from USU in 1974 with a BS in accounting, will speak at a Dean's Convocation on Nov. 16.

Most people have heard people talk about the "Big Four" accounting firms. Well, Mr. Quigley is the global CEO of one of them - Deloitte Touche. He has clearly built a career around the fundamental principles of the Jon M. Huntsman School of Business. Students who take the time out of their day to hear Mr. Quigley will undoubtedly walk away with a better understanding of how to succeed in the business world.

Doug Robinson of the Deseret News recently wrote an article about Mr. Quigley. Here is how the article begins:

Jim Quigley is an oddity in the corporate world of high finance. His peers tend to be graduates of leafy old Ivy League schools – Wharton, Yale, Harvard, et al. Then there's Quigley. He grew up in a town of 400 in southern Utah. Graduated with a class of 92. Earned a B.S. degree from – ahem – a state school. And that advanced degree? Didn't get one. 

"Not exactly the credentials you have to have to be CEO of a large company," he likes to say.

Click here to read the rest of the article.

Penn State now "Penance" State

A brand is a living, breathing thing – built over time. Brands, like people, have good days and bad days. Unfortunately, as the stunning revelations coming out of Penn State this week demonstrate, the power of a brand that took years and even decades to build can be destroyed in a matter of days.

Penn State and Joe Paterno are the definition of big-time college football. The image of Paterno – a football professor with a tie, thick glasses and Nike coaching shoes - has stalked the sidelines in Happy Valley since 1950. The success of the football program has driven the reputation of the university for decades. The Nittany Lions won national championships in 1982 and 1986.

Eric D. Schulz

Just how powerful is Joe Paterno? In 2004 the university president demanded his resignation. Paterno ignored him and kept on coaching. He and his wife Sue have donated over $4 million to the university. The school library bears his name, as does an ice cream flavor at the campus creamery.

In the past three days, the reputation and brand of both the school and Paterno have been destroyed as quickly and completely as New York’s Twin Towers. In case you haven’t followed the news, a former defensive coordinator under Paterno, Jerry Sandusky, has been accused of sexually assaulting young boys over a 15-year period. In 2002, a graduate assistant witnessed a sexual assault by Sandusky on a 10-year old boy inside the football locker room showers and reported it to Paterno. Paterno in turn told his superior, school athletic director Tim Curley, who took it to the school’s senior vice president for finance and business, Gary Schultz (no relation to me, thank heaven).

All three decided that protecting the power and prestige of the brands of Penn State and Joe Paterno were more important than doing the right thing. They swept the information under the table and never reported it to police. Curley and Schultz have been charged with perjury and failure to report to authorities what they knew in a Grand Jury investigation, but Paterno has not been charged (yet).

Regardless, the brand reputations of Penn State and Joe Paterno have lost their luster. The school will need to do some serious damage control. Their plight is similar to that which the Miss America pageant faced back in 1984 when nude photos – pics that had been taken back in 1982 -- surfaced of then Miss America Vanessa Williams (yes, THAT Vanessa Williams – the singer and actress, most recently seen on “Ugly Betty”.) The pageant had brushed with scandal before, and responded in 1985 by crowning the most squeaky – clean contestant they could find, Utah’s Sharlene Hawkes.

Penn State will need to sweep out their entire athletic department leadership, as well as their football coaching staff, and start over with a coach and new athletic director above reproach, never tainted or even hinted at by scandal or NCAA violation. If they do – and if the football team excels – they will be able to regain their luster quickly. Winning fixes everything in sports (unfortunately sometimes – as in Kobe Bryant / Ben Rothlesberger / Michael Vick cases). For Joe Pa however, there will be no redemption. The man who spent over 60 years building his reputation will need to slink off into retirement and stay away from Penn State forever. It's a shame, but when he walks away from his resignation press conference, that will be the last we will ever see of the winningest coach in football history.

The moral of this story is something all brands should take note of. No matter how big or powerful a brand you have stewardship over, morality trumps all. Do not try to “protect the brand” by actively doing, or ignoring, immoral acts. Don’t hide negative test results from the FDA or other government agencies in place to protect the public. Don’t – as auto companies are famous for doing – have “statistical” acceptability of product failures. A death due to your product is not acceptable under any circumstance.

When I was at Coke, I was standing alongside the Chief Marketing Officer, Sergio Zyman one day, when an international Coke brand manager approached him and started explaining the idea she had for a Coke brand consumer promotion in her country. His reply was the height of brand arrogance. He said “Let me ask you this. Do you think you have within your power the ability to destroy brand Coca-Cola?” “Of course not”, she replies. “Then do whatever you want”, he said.

Unfortunately, as was the case at Penn State, too many leaders think that way.

- Eric D. Schulz

Eric D. Schulz is the co-director of strategic marketing and brand management at the Jon M Huntsman School of Business at Utah State University. Prior to joining the University, he spent five years as vice president of marketing for the Utah Jazz (NBA); he previously was VP of marketing with the XFL Football League, and served as a General Manager in minor league baseball. He can be reached at eric.schulz@usu.edu.

Apps, apps, and more apps

Apparently, one screen isn’t enough to keep us entertained any more.

A recent article on CNN.com says that numerous studies show that 80 percent of TV viewers of all age incorporate a “second screen” – laptop, smartphone or tablet computer – into their viewing habits.

Connor Child

The most likely reason for this trend is that people like to talk about TV shows and event while they are happening. Zeebox is an app developed to take advantage of this scenario. It “determines what show is currently being viewed and then provides streams from relevant social media, as well as offering targeted links to spin-off products, and background information about the actors, music or writers drawn from online resources.”

I appreciate the concept behind this service as much as anyone. I’m always going to the internet during shows to see what other movies/TV shows such and such actor has been in. During a sporting event, I like to see other people’s responses to the ref’s last call or Coach Jackson’s decision to go for it on fourth down.

But, the old man inside of me worries about whether this type of technology will dumb down TV. For example, my favorite show of all time is Lost. I would turn my phone off while I watched an episode, and if anyone ever tried to talk to me I would pause it. It’s too cerebral of a show to allow yourself to be distracted by apps or any type of second screen. Since Lost went off the air, I have been worried about whether I will ever see a show like it again. Now, as shows try harder to be second screen compatible, I am even more worried.

In addition to being fun and neat, apps can be genuinely useful. Jayne O’Donnell wrote an article for USA Today about how apps can help consumers save money as the Christmas season approaches. eBay has its Red Laser app and Amazon has its Price Check. Both are price comparison apps that quickly tell consumers where else they can get Good A and at what price.

Ms. O’Donnell offers a few other tips on how to use apps to help you shop smartly. One of the coolest apps she highlighted was Lemon, an app that keeps track of receipts. As someone with no organized method of keeping receipts, I can quickly see how that app would make my life easier.

- Connor Child

It's all about context

Even though the design of our building is the next major step after we complete the programming, there are some design issues that affect spaces in the building, and therefore, are important for us to consider as part of the programming process. So, we have started working on some design concepts with our architects. In short, we need to make sure our building fits the context of the campus.

Ken Snyder

Let me share examples of some of the issues we are considering:

• One of the things we must consider is how our building will fit in with the other buildings and features of the campus. We have a beautiful campus and our building needs to enhance that beauty and not detract from it.

• Another thing we must consider is traffic flow. Our building will be between two parking lots and the rest of campus. We want it to prove inviting so that people will want to walk through it, even if it is only in one door and out the other. It’s important to us that we be connected with the campus community and one way to do that is to design a facility that is welcoming.

• We have to think about how tall the new building should be. We don’t want it to block the view we have from the George S. Eccles Business Building.

• We want to maximize the terrific asset we have of providing views of the south end of Cache Valley. We need to create reasons (classrooms!) that pull people into the south end of the new building where they will be able to enjoy the great views. If our classrooms are all located in or close to the old business building, the part of the new building with the great view of Cache Valley will be underutilized.

• One of the first things that visitors to our campus will see is Huntsman Hall. It will be like a face of the university. We want that face to reflect the campus.

Context counts!

- Ken Snyder

The difficulties of quantifying abstract skills

When I was in high school, my mother, as a joke, gave me a t-shirt that said, "My mommy says I'm special." I don't often wear it in public.

I would wear a shirt that says, "My boss thinks I'm exceptional." Or “outstanding.” Or “dependable,” “smart” and “talented.”

Paul Lewis Siddoway

I would even consider wearing it to an interview. Especially if my boss signed it.

Okay, maybe not.

It seems like getting a job is just one struggle after another. Finding openings is hard enough. Standing out in relation to the crowd and actually getting an interview seems impossible at times.

Jeff Haden, a blogger for BNET, part of CBS's interactive business network, came up with some suggestions on things businesses are looking for. Essentially, Haden says uniqueness, social smarts, adaptability, inquisitiveness, focus, the urge to tinker with the status quo, a desire to prove they (the employee) are right, public praise of others, and complaining only in private are some of the qualities businesses are looking for.

That's great. My question is, "How do I show potential employers that I'm focused?" Or, "How do I show in my résumé that I have social skills?"

Any suggestions?

- Paul Lewis Siddoway