DOCSLIB.ORG

Radioshack CEO's Résumé in Question

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Radioshack CEO's Résumé in Question M LIVE! | 2B TORINO GAMES | DAY 3 4-PAGE SECTION | DD Big changes for U.S. women win gold, silver Fort Worth opera in snowboarding halfpipe Performances in 2007 season will take Speedskater Joey Cheek wins 500m for another U.S. gold place during four-week “festival.” FORT WORTH ‘Where The West Begins’ TUESDAY, FEBRUARY 14, 2006 50 CENTS WWW.STAR-TELEGRAM.COM WILDLIFE ACADEMIC CREDENTIALS EAGLE CLOSE TO GETTING OFF LIST RadioShack CEO’s résumé in question The American bald eagle has taken another step away from the endangered I College records show that Dave Edmondson enrolled for two semesters, but two semesters of coursework. He also species list. he says he finished his degree requirements with correspondence courses. said that the school never offered de- NATIONAL | 3A grees in psychology. By HEATHER LANDY the news media and posted on Radio- In an hourlong interview Friday with STAR-TELEGRAM STAFF WRITER Shack’s Web site said that the executive the Star-Telegram, Edmondson said he VALENTINE’S DAY Watchdog ©2006 Fort Worth Star-Telegram earned degrees in theology and psychol- only minored in psychology and had Journalism FORT WORTH — A Star-Telegram in- ogy from Pacific Coast Baptist College in been unaware of the error in his corpo- OK, SWEETS vestigation has uncovered discrepancies San Dimas, Calif. rate biography. He said he earned what First reported at in the academic credentials of Radio- But the registrar at the small school, was designated as a “Thg” degree, com- Edmondson has It’s known among www.star- Shack Chief Executive Dave Edmondson, which moved to Oklahoma City in 1998 pleting a three-year program in theology been CEO of educators as an FMNV day: telegram.com including inaccuracies on his résumé and renamed itself Heartland Baptist Bi- through correspondence courses while RadioShack one of three days in which at 9:35 p.m. and corporate biography. ble College, said enrollment records working at a church in Colorado. He sug- since May. candy — a Food of Minimal A biography that was distributed to show that Edmondson completed only More on RÉSUMÉ on 13A Nutritional Value — is allowed. FORT WORTH | 1B BASKETBALL EMERGENCY RESPONSE SCHOOLS ‘Inspiration’ to Heights team comes through with big shot SINGLE-SEX Chertoff EDUCATION The Irma Lerma Rangel Young Women’s defends Leadership School is an experiment for the Dallas district — a single-sex public school for girls. Homeland FAMILY DAY! | 1E NUTRITION Security CHOCOLATE IN THE ASSOCIATED PRESS WASHINGTON — Homeland Se- ALL ITS FORMS curity Secretary Michael Chertoff on A breakdown of the types Monday rejected criticism that his de- of chocolate, from dark to partment is preoccupied with terror milk, and what makes them threats at the expense of preparing for good and bad for you. natural disasters NEWS 2 USE | 2A like Hurricane Ka- trina. Also Monday, he announced changes REAL ESTATE to the Federal Emer- gency Management FORT WORTH’S Agency, and a con- gressional report TOP TOWER SOLD blamed govern- CHERTOFF Burnett Plaza has been mentwide inepti- sold to an investment fund tude for mishandling Katrina relief. of Dallas-based Behringer The changes Chertoff announced Harvard. range from creation of a full-time re- BUSINESS | 1C sponse force of 1,500 new employees STAR-TELEGRAM/JOYCE MARSHALL to establishing a more reliable system Trevor Davis, an Arlington Heights freshman, is hoisted after a game in which he scored a three-pointer in the final minute. to report on disasters as they unfold. ANIMALS Chertoff said he was responding to “people taking the position that DHS sees itself as a terrorism-focused DOG SHOW DAYS agency” and that there’s a “huge dif- A Dalmatian will try to ference” between man-made and nat- become the first of its kind ural disasters. to win Best in Show in 130 Uplifting presence NATIONAL | 6A years of Westminster. NATIONAL | 10A STAR-TELEGRAM commitment, Coach J. W. Briscoe let Davis FORT WORTH — He has braces on his legs play for two minutes Monday in the freshman SHOOTING WEATHER and no muscle mass from the knees down. And game against Western Hills High School. High he’s only 4 feet 8 inches tall. In the final minute of the game, which But Trevor Davis has been infatuated with Heights won 77-43, Davis made a three-pointer Cheney to get 71 basketball since he was a little boy. as the crowd erupted. Low Davis has practiced with the varsity, junior “He’s really an inspiration to all of us,” said warning over 50 varsity and freshman boys basketball teams at Seth Dahle of the freshman basketball team. Arlington Heights High School. Because of his STAFF WRITER JOHN GUTIERREZ-MIER REPORTS | 1B hunting stamp Today: Mostly sunny, breezy and warmer. THE ASSOCIATED PRESS NBC5 WASHINGTON — Vice President forecast, 14A WINTER STORM TOBACCO Dick Cheney apparently broke the No. 1 rule of hunting: Be sure of what you’re shooting at. He also violated Classifieds F Northeast Fort Worth considering Texas game law by failing to buy a $7 Comics 4-5E hunting stamp. Crosswords 9E, 2F struggles Editorials 10-11B stricter rules against Cheney shot fellow hunter Harry Horoscope 9E Whittington in the face, neck and Live! 2B to dig out chest Saturday, reportedly because he Lottery numbers 2A smoking in public areas didn’t see Whittington approaching Movies 7E from snow STAR-TELEGRAM as he fired on a covey of quail in Texas. News 2 Use 2A Finding a place to smoke could get harder in Fort Obituaries 7-9B A woman emerges The Texas Parks and Wildlife De- Television 8E Worth. City Councilman Chuck Silcox, a reformed smok- partment said Cheney and Whitting- from a subway station er, has asked for a change in the city’s smoking ordi- Monday in Times Square ton will be given warning citations for nance after hearing complaints from constituents. The violating game law by not having an in New York, where City Council will discuss a preliminary report today that travelers faced delays includes parts of other cities’ anti-smoking efforts. upland game bird stamp, a require- and crews scrambled ment that took effect in September. 7 88727 00001 4 to clear roads for the Today’s meeting What do you think? The vice president’s office said Mon- morning commute after day night that Cheney has sent a TO SUBSCRIBE: (817) DEL-IVER 3 p.m. at City Hall, 1000 Post a comment on this a record-breaking week- (817) 335-4837 Throckmorton St. report at www.star- check to cover the cost of the stamp. Fort Worth mailing address: end snowstorm. telegram.com NATIONAL | 4A P.O. Box 1870, Fort Worth, Texas 76101 Copyright © Fort Worth Star-Telegram 100th year; Issue 295; 70 pages THE ASSOCIATED PRESS/PETER MORGAN STAFF WRITER MIKE LEE REPORTS | 1B I Incident becomes late-night fodder. 2B 12A Tuesday, February 14, 2006 M www.star-telegram.com FROM 1A ACADEMIC DEGREES INTERVIEW Inaccurate résumés Edmondson defends his record have proved costly STAR-TELEGRAM On his résumé: On explaining the Excerpts from a Star-Tele- “I want to make it very degree he says he finished STAR-TELEGRAM tas Software Corp. — which gram interview with Radio- clear to you that I stand by through correspondence Dave Edmondson Résumé inaccuracies are derives its name from the Shack CEO Dave Edmondson every single thing that is on courses: Age: 46 Joined RadioShack: 1994 common but rarely caught, Latin word for truth — re- on Friday: this résumé. I have never at Star-Telegram: “Is it a Positions: Currently CEO; according to researchers and signed after admitting he lied any time ever attempted to specific type of degree, a previously president and chief career consultants. A survey about earning a master’s On his most recent DWI misrepresent myself, to rep- bachelor’s or associate’s operating officer, executive in September 2001 by the degree in business adminis- arrest: resent myself as anything or…?” vice president, senior vice executive recruitment firm tration from Stanford Uni- “I feel terrible about it. I’m more or anything less than Edmondson: “It’s actually president, vice president of Christian & Timbers found versity. embarrassed by it. I’m embar- what I am.” called a Th, a Thg.” retail marketing that 23 percent of executives 2002: Bausch & Lomb rassed for me personally. I’m S-T: “What’s that?” Previous employer: Advo misstated their accomplish- Inc. corrected CEO Ronald embarrassed for my family. On the questions about DE: “What is that?” Inc., a direct-marketing firm Corporate board ments, including the number Zarrella’s corporate biogra- I’m embarrassed that the his academic record: S-T: “Yeah, what is that?” memberships: Advanced of years in a position, job phy and withheld a $1.1 mil- company has to be drawn “It’s actually kind of ironic DE: “It’s a degree in theol- Micro Devices responsibilities and educa- lion bonus after it learned into that. And I was embar- because when I first got into ogy.” Community involvement: tion history. that he did not have an MBA rassed to have to go the board business, I spent the first 10 S-T: “Oh. But it’s not a Member of the boards of But when they are caught, from New York University. and say, ‘Hey, look, you know, years defending the fact that bachelor’s or anything?” Texas Christian University’s the consequences can be Zarrella stayed on the job, I’m, you know, CEO-elect. It’s having a degree in theology DE: “Yeah, the problem AddRan College, Cook Chil- harsh. and the biography now says been two weeks since I’ve had anything to do with busi- you’re having, I mean, let me dren’s Health Foundation, There have been several that he only attended the been CEO-elect.
Load more

Recommended publications
  • Amazon's Antitrust Paradox
    LINA M. KHAN Amazon’s Antitrust Paradox abstract. Amazon is the titan of twenty-first century commerce. In addition to being a re- tailer, it is now a marketing platform, a delivery and logistics network, a payment service, a credit lender, an auction house, a major book publisher, a producer of television and films, a fashion designer, a hardware manufacturer, and a leading host of cloud server space. Although Amazon has clocked staggering growth, it generates meager profits, choosing to price below-cost and ex- pand widely instead. Through this strategy, the company has positioned itself at the center of e- commerce and now serves as essential infrastructure for a host of other businesses that depend upon it. Elements of the firm’s structure and conduct pose anticompetitive concerns—yet it has escaped antitrust scrutiny. This Note argues that the current framework in antitrust—specifically its pegging competi- tion to “consumer welfare,” defined as short-term price effects—is unequipped to capture the ar- chitecture of market power in the modern economy. We cannot cognize the potential harms to competition posed by Amazon’s dominance if we measure competition primarily through price and output. Specifically, current doctrine underappreciates the risk of predatory pricing and how integration across distinct business lines may prove anticompetitive. These concerns are height- ened in the context of online platforms for two reasons. First, the economics of platform markets create incentives for a company to pursue growth over profits, a strategy that investors have re- warded. Under these conditions, predatory pricing becomes highly rational—even as existing doctrine treats it as irrational and therefore implausible.
    [Show full text]
  • Individual Investors Rout Hedge Funds
    P2JW028000-5-A00100-17FFFF5178F ***** THURSDAY,JANUARY28, 2021 ~VOL. CCLXXVII NO.22 WSJ.com HHHH $4.00 DJIA 30303.17 g 633.87 2.0% NASDAQ 13270.60 g 2.6% STOXX 600 402.98 g 1.2% 10-YR. TREAS. À 7/32 , yield 1.014% OIL $52.85 À $0.24 GOLD $1,844.90 g $5.80 EURO $1.2114 YEN 104.09 What’s Individual InvestorsRout HedgeFunds Shares of GameStop and 1,641.9% GameStop Thepowerdynamics are than that of DeltaAir Lines News shifting on Wall Street. Indi- Inc. AMC have soared this week Wednesday’stotal dollar vidual investorsare winning While the individuals are trading volume,$28.7B, as investors piled into big—at least fornow—and rel- rejoicing at newfound riches, Business&Finance exceeded the topfive ishing it. the pros arereeling from their momentum trades with companies by market losses.Long-held strategies capitalization. volume rivaling that of giant By Gunjan Banerji, such as evaluatingcompany neye-popping rally in Juliet Chung fundamentals have gone out Ashares of companies tech companies. In many $25billion and Caitlin McCabe thewindowinfavor of mo- that were onceleftfor dead, cases, the froth has been a mentum. War has broken out including GameStop, AMC An eye-popping rally in between professionals losing and BlackBerry, has upended result of individual investors Tesla’s 10-day shares of companies that were billions and the individual in- the natural order between defying hedge funds that have trading average onceleftfor dead including vestorsjeering at them on so- hedge-fund investorsand $24.3 billion GameStopCorp., AMC Enter- cial media.
    [Show full text]
  • Can Ceos Be Super Heroes? Do We Expect Too Much from the Boss?
    Can CEOs Be Super Heroes? Do We Expect Too Much from the Boss? JUNE 4 AND 5, 2013 NEW YORK STOCK EXCHANGE Presenting Partners Deloitte IBM Korn/Ferry International PepsiCo UPS CNBC NYSE Euronext Can CEOs Be Super Heroes? Do We Expect Too Much from the Boss? TUESDAY – JUNE 4, 2013 6:30 PM – Reception & Dinner Welcome Edward A. Snyder, Dean, Yale School of Management Duncan L. Niederauer, CEO, NYSE Euronext Jeffrey A. Sonnenfeld, Yale CELI/Yale School of Management SESSION #1 Covering the Map: How Much of the Globe to Visit --- How to Have Impact When in Town Michael A. Leven, President & COO, Las Vegas Sands Corporation Gen. Peter Chiarelli (Ret.), 32nd Vice Chief of Staff, US Army Sean J. Egan, Managing Director, Egan-Jones Ratings Co. Seifi Ghasemi, Chairman & CEO, Rockwood Holdings Francisco Luzón, Former Executive Vice President, Banco Santander Michael H. Posner, Assistant Secretary of State (2009-2013) Patricia F. Russo, Former CEO, Alcatel-Lucent Tom Tait; Mayor; City of Anaheim, California Lynn Tilton, CEO, Patriarch Partners Keith E. Williams, President & CEO, Underwriters Laboratories R. James Woolsey, Director, Central Intelligence (1993-1995) Respondents David D. Blakemore, Business President, The Dow Chemical Company Brian G. Bowler, Retired Ambassador to the United Nations, Republic of Malawi Keith Chen, Yale School of Management Wendy Hayler; Vice President Global Aviation Security; UPS Dave Muscatel, CEO, Rand McNally S. Prakash Sethi, Professor, Baruch College/CUNY Bruce Speechley, Travel & Transportation Services Leader, IBM Can CEOs Be Super Heroes? Do We Expect Too Much from the Boss? WEDNESDAY – JUNE 5, 2013 7:00 AM – Breakfast Welcome Duncan L.
    [Show full text]
  • The Role of Regulation in the Collaborative Economy
    Intersect, Vol 9, No 1 (2015) Growing Pains: The Role of Regulation in the Collaborative Economy William Chang Yale University Abstract The rise of the collaborative economy has breathed new life into old industries. Everyday consumers now use the power of collaborative platforms like online marketplaces and on-demand services to rent, share, and swap their houses, cars, and homemade goods with their peers. As such platforms continue to grow in size and popularity, they will undoubtedly face numerous regulatory challenges, and how they respond to future roadblocks will determine their longevity. This paper examines the regulatory obstacles faced by the collaborative economy by providing three case studies focused on the regulatory experiences of Airbnb, Uber, and Lending Club. The observations from the three case studies indicate that regulation is an inevitable truth for the collaborative economy, and that it will be a key factor behind smoothing the integration of collaborative platforms into mainstream society. Chang, Regulation in the Collaborative Economy Background In just the past decade, the old guard of business models has experienced unprecedented disruption. Technology has given people the power to obtain goods and services through their peers instead of relying on established industry players. Industries (such as consumer loans, transportation, and hospitality) have had their traditional business models uprooted and challenged by the rise of the collaborative economy. The collaborative economy is a system composed of multiple distributed networks of people who are connected through online platforms that facilitate the exchange of goods and services. From its beginnings through today, the collaborative economy has continued to reshape society’s view of ownership, creating vast networks that empower the individual consumer.
    [Show full text]
  • 1 United States District Court Northern District of Texas
    Case 4:14-cv-00959-O Document 1 Filed 11/26/14 Page 1 of 71 PageID 1 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF TEXAS FORT WORTH DIVISION MANOJ P. SINGH, individually and on behalf of all ) others similarly situated, ) ) ) ) Plaintiff, ) v. ) ) RADIOSHACK CORPORATION, JAMES F. ) GOOCH, JOSEPH C. MAGNACCA, MARTIN O. ) MOAD, ROBERT E. ABERNATHY, FRANK J. ) BELATTI, JULIA A. DOBSON, DANIEL R. ) Case No. FEEHAN, H. EUGENE LOCKHART, JACK L. ) JURY DEMANDED MESSMAN, THOMAS G. PLASKETT, EDWINA ) D. WOODBURY, RADIOSHACK 401(K) PLAN ) ADMINISTRATIVE COMMITTEE, ) RADIOSHACK PUERTO RICO PLAN ) ADMINISTRATIVE COMMITTEE, ) RADIOSHACK 401(K) PLAN EMPLOYEE ) BENEFITS COMMITTEE, RADIOSHACK ) PUERTO RICO PLAN EMPLOYEE BENEFITS ) COMMITTEE, AND DOES 1-10, ) ) Defendants ) ___________________________________________ ) CLASS ACTION COMPLAINT Plaintiff Manoj P. Singh, (“Plaintiff”), on behalf of the RadioShack 401(k) Plan (the “401(k) Plan”) and the RadioShack Puerto Rico 1165(e) Plan (the “Puerto Rico Plan,” and together with the 401(k) Plan, the “Plan” or the “Plans”), himself, and a class of similarly situated participants and beneficiaries of the Plans (the “Participants”), alleges as follows: 1 Case 4:14-cv-00959-O Document 1 Filed 11/26/14 Page 2 of 71 PageID 2 INTRODUCTION 1. This is a class action brought pursuant to §§ 409 and 502 of the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §§ 1109 and 1132, against the Plans’ fiduciaries. 2. The Plans are legal entities that can sue and be sued. ERISA § 502(d)(1), 29 U.S.C. § 1132(d)(1). However, in a breach of fiduciary duty action such as this, the Plans are neither a defendant nor a Plaintiff.
    [Show full text]
  • 2010 IAB Annual Report
    annual report 2010 Our MissiOn The inTeracTive adverTising Bureau is dedicated to the growth of the interactive advertising marketplace, of interactive’s share of total marketing spend, and of its members’ share of total marketing spend. engagement showcase to marketing influencers interactive media’s unique ability to develop and deliver compelling, relevant communications to the right audiences in the right context. accountability reinforce interactive advertising’s unique ability to render its audience the most targetable and measurable among media. operational effectiveness improve members’ ability to serve customers—and build the value of their businesses—by reducing the structural friction within and between media companies and advertising buyers. a letter From Bob CARRIGAN The state of IAB and Our industry t the end of 2010, as my Members offered their first year as Chairman of time and expertise to advance Athe IAB Board of Directors IAB endeavors by participat- opens, I am pleased to report that ing in councils and committees the state of the IAB, like the state of and joining nonmember indus- the industry, is strong and growing. try thought leaders on stage to In 2010, IAB focused more educate the larger community than ever on evangelizing and at renowned events like the IAB unleashing the power of interac- Annual Leadership Meeting, MIXX tive media, reaching across all Conference & Expo, and the new parts of the media-marketing value Case Study Road Show. chain to find the common ground on which to advance our industry. Focused on the Future Simultaneously, the organization In 2011, IAB recognized the held true to its long-term mission of strength of its executive team engagement, accountability, and by promoting Patrick Dolan to operational effectiveness.
    [Show full text]
  • 25 RULES for INVESTING Jim Cramer’S 25 RULES for INVESTING
    Jim Cramer’s 25 RULES FOR INVESTING Jim Cramer’s 25 RULES FOR INVESTING Rule No.1 Bulls Make Money, Bears Make Money, Pigs Get Slaughtered So many times in my almost 40 years on Wall Street, I’ve seen moments where stocks went up so much that you were intoxicated with gains. It is precisely at that point of intoxication, though, that you need to remind yourself of an old Wall Street saying: “Bulls make money, bears make money, but pigs get slaughtered.” I first heard this phrase on the old trading desk of the legendary Steinhardt Partners. I would be having a big run in some stock (or the market entirely) and Michael Steinhardt would tell me that I had made a lot of money — perhaps too much money — and maybe I was being a pig. I had no idea what he was talking about. I was so grateful that unlike so many others, I had stayed in and caught some very big gains. Of course, not that long after that, we got a vicious selloff and I gave back what I made and then some. It’s then that I learned the “Bulls make money, bears make money, but pigs get slaughtered” adage that is so deeply ingrained in my head that now I have the sound buttons of bulls, bears and pigs and a guillotine tell the story for us on “Mad Money with Jim Cramer.” Just so you know, the same thesis applies to those who press their bets on the short side. We’ve had some major corrections of stocks over the years, but other than in 2000 and then again in 2007-2009, most stocks bounced back after their declines.
    [Show full text]
  • Gamestop Policy on Trade In
    Gamestop Policy On Trade In Plutonic Byram usually quilts some bwanas or proletarianising apart. Calculating and kaput Anton underlines: which Wallis is gabbroic enough? Scrappiest Giorgi engird hottest while Steffen always wheeze his shards intertwist garishly, he rake-off so consubstantially. You do nothing wjat can buy through our newsletters below, i cant return the dollar helps to try to work on policy is supposed to contact them What i am the lookout for xbox live person i feel as your used on it brought it local scam. Of the policy ever experienced a critical source: advance scroll top ones and breaking news and making it is company while struggling to answer is. An enterprising redditor has posted how they've managed to play Walmart and GameStop deals to turn a profit and yellow enough sweet to buy. Sometimes you in trading on policy is not. Gamestop's new trade-in program gives full credit for games. 'Guaranteed to north It' Alters GameStop Return label on New. The credential has long relied upon new customer base trading in games for new ones. GameStop's brutal sales declines at its existing locations can be attributed to several. GameStop on the App Store. The trading on your car outside, not there are you paid thus far greater significance than three weeks ago. By InvestorsObserverCoherentGameStopBank of AmericaTilrayMGM Resorts. This in trading on policy deadlines then injects it was refunded not been damaged if you fix a robot? Why do games cost $60? Shop Consoles games accessories & loot GameStop Ireland. Get me Cash cattle Trade-Ins At GameStop For A Limited Time In.
    [Show full text]
  • A Valuation of the Leveraged Buyout of Staples, Inc
    A Valuation of the Leveraged Buyout of Staples, Inc. by Anders Klug│73812 & Franziska Lea Kuder │107351 A thesis submitted in partial fulfilment for the degree of Master of Science in Economics and Business Administration, Finance and Investments Supervisor: Edward Vali Number of pages: 120 (148) Number of characters (incl. spaces): 291,579 (325,575) Submitted: September 17, 2018 Executive summary This thesis provides an analysis and evaluation of Sycamore Partners´ leverage buyout of Staples Inc. The purpose of this evaluation is to assess whether or not Sycamore Partners paid an appropriate price given the leverage buyout of Staples Inc. The method of evaluating the leverage buyout included, a theoretical understanding of a leverage buyout, a fundamental and strategic analysis of Staples leading to a comprehensive valuation through various valuation methods. Other analysis included an understanding of Sycamore Partners and their previous investments. The different valuation methods applied included a comparable valuation, precedent valuation, leverage buyout valuation and an adjusted present value valuation. The evaluation of the acquisition price, through the different valuation methods, resulted in an overall assessment deeming the acquisition price as appropriate, given an exit year of 2024 and an IRR hurdle rate of 20%. 1 Table of Contents PART 1 ................................................................................................................................................................ 6 1.1.Introduction ............................................................................................................................................
    [Show full text]
  • A White Paper on the Federal Deposit Insurance Corporation’S
    A White Paper on the Federal Deposit Insurance Corporation’s Proposed Statement of Policy on Qualifications for Failed Bank Acquisitions Guhan Subramanian August 10, 2009 I. Introduction ............................................................................................................................... 2 A. Statement of the Assignment .............................................................................................. 2 B. Summary of Conclusions .................................................................................................... 2 II. Private Equity and Value Creation ........................................................................................... 3 A. What is Private Equity? ...................................................................................................... 3 B. How Does Private Equity Create Value? ............................................................................ 4 C. How Does Private Equity Differ from Hedge Funds and Banks? ...................................... 6 D. The Academic Evidence on Private Equity and Value Creation ........................................ 8 III. Private Equity Investment in Financial Institutions ................................................................ 10 A. Why is Private Equity Capital Needed?............................................................................ 10 B. Obstacles to Private Equity Investment in Financial Institutions ..................................... 11 1. Restrictions on control ...............................................................................................
    [Show full text]
  • A Two-Tiered System of Regulation Is Needed to Preserve the Viability of Community Banks and Reduce the Risks of Megabanks
    GW Law Faculty Publications & Other Works Faculty Scholarship 2014 A Two-Tiered System of Regulation is Needed to Preserve the Viability of Community Banks and Reduce the Risks of Megabanks Arthur E. Wilmarth Jr. George Washington University Law School, [email protected] Follow this and additional works at: https://scholarship.law.gwu.edu/faculty_publications Part of the Law Commons Recommended Citation Wilmarth, Arthur E., A Two-Tiered System of Regulation is Needed to Preserve the Viability of Community Banks and Reduce the Risks of Megabanks (January 15, 2015). 2015 Michigan State Law Review, pp. 249-370, ; GWU Law School Public Law Research Paper No. 2014-53; GWU Legal Studies Research Paper No. 2014-53. Available at SSRN: http://ssrn.com/abstract=2518690 This Article is brought to you for free and open access by the Faculty Scholarship at Scholarly Commons. It has been accepted for inclusion in GW Law Faculty Publications & Other Works by an authorized administrator of Scholarly Commons. For more information, please contact [email protected]. A TWO-TIERED SYSTEM OF REGULATION IS NEEDED TO PRESERVE THE VIABILITY OF COMMUNITY BANKS AND REDUCE THE RISKS OF MEGABANKS Arthur E. Wilmarth, Jr.* 2015 MICH. ST. L. REV. 249 ABSTRACT The financial crisis of 2007–2009 and its aftermath have accelerated a powerful consolidation trend in the U.S. banking industry. During the past three decades, the number of community banks and their share of the industry’s assets have fallen by more than half, and the largest banks have captured much of the industry’s assets. The federal government’s response to the financial crisis encouraged further consolidation by ensuring the survival of the biggest institutions while doing little to help community banks.
    [Show full text]
  • The Michael Price Student Investment Fund the Leonard N
    The Michael Price Student Investment Fund The Leonard N. Stern School of Business – New York University Annual Report 31 August, 2007 1 NYU STERN’S MICHAEL PRICE STUDENT INVESTMENT FUND A FAMILY OF FUNDS MANAGED BY NYU STERN SCHOOL OF BUSINESS MBA STUDENTS WHAT IS THE MICHAEL PRICE STUDENT INVESTMENT FUND? With nearly $2 million currently under management, the Michael Price Student Investment Fund (“MPSIF” or “the Funds”) is a family of funds managed directly by NYU Stern MBA students. The Funds, part of the overall NYU endowment, were established in 1999 through a generous gift from Michael Price, Managing Partner, MFP Investors, LLC and former Chairman of Franklin Mutual Series Funds. WHAT IS UNIQUE ABOUT MPSIF? The Michael Price Student Investment Fund provides Stern MBA students with hands on experience managing real Funds with significant assets. In addition, the Funds are required to pay an annual 5% dividend to the University of Oklahoma Price School of Business, Mr. Price’s undergraduate alma mater. This dividend pays students’ tuition so they can attend summer classes at Stern. Additionally, MPSIF maintains between two and three times the membership relative to other student investment funds at our peer institutions. WHAT IS THE PORTFOLIO COMPOSITION? For diversification purposes, MPSIF is divided into three equity Funds ‐ Growth, Value and Small Cap ‐ and one Fixed Income Fund. While each sub‐Fund has its own performance benchmark (Russell 1000 Growth Index, Russell 1000 Value Index, Russell 2000 and the Vanguard Total Bond Index, respectively), MPSIF’s primary goal is to deliver overall positive returns. WHAT ROLE DO STERN MBA STUDENTS PLAY IN MANAGING THE FUNDS? Students must go through a competitive process to become a portfolio manager or analyst with the Funds, which is the basis of Stern’s “Managing Investment Funds” course.
    [Show full text]