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Hometown Advantage? CEOs Tend to Acquire Companies in Familiar Stomping Grounds

UConn Today – Multinational conglomerate Berkshire Hathaway bought CEO Warren Buffett’s struggling hometown newspaper. Amazon acquired Whole Foods, which is headquartered in the same state where CEO Jeff Bezos grew up and owns a home.

New research shows these deals aren’t coincidences. Companies are 2.5 times more likely to acquire firms headquartered in the state where their CEO grew up than similar firms located elsewhere, the study found.

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Coveted Class: Financial Services

Paul Gilson, director and assistant professor of in residence of finance at the Graduate Business Learning Center in Hartford on Aug. 13, 2019. (Peter Morenus/UConn Photo)
Paul Gilson, director and assistant professor of in residence of finance at the Graduate Business Learning Center in Hartford on Aug. 13, 2019. (Peter Morenus/UConn Photo)

The Instructor

Associate professor-in-residence in finance, Paul Gilson grew up in the Thames River town of Gravesend, 20 miles east of London, and earned a degree in mathematics from Bristol University. His plan was always to go on to a Ph.D. “But first,” he says, “I needed a job.” So he went to work in London for KPMG, the global accounting giant. His first day at the office, stock markets around the world collapsed in the Black Monday crash of 1987, still the greatest one-day loss by percentage in Dow history. During the long recovery that followed, KPMG was kept very busy, and Gilson gained extensive experience in mergers and acquisitions, a specialty of his department. “The late 1980s in London,” he says. “It was an exciting time.” Continue Reading


Predictive Modeling Class Projects Become Twin Wins for UConn

The UConn delegates pose at a reception during the JMP Discovery Summit in Tuscon, AZ.  The two UConn teams represented here tied for first place in the contest. (Contributed Photo)
The UConn delegates pose at a reception during the JMP Discovery Summit in Tuscon, AZ. The two UConn teams represented here tied for first place in the contest. (Contributed Photo)

If a pet-adoption agency wants to quickly find a home for a puppy, is it better to post a picture of the pup with its littermates—or a series of photos of the dog alone?

And if soccer club owners are trying to identify which FIFA players are underpaid based on their talent, could they accurately do so by analyzing public data about each player’s skill ratings?Continue Reading



UConn’s MBA Program Ranks Among the Best in 2019-20

(Image Courtesy of Bloomberg Businessweek)
(Image Courtesy of Bloomberg Businessweek)

UConn’s MBA program has been named to Bloomberg Businessweek’s ranking of the best U.S. business schools of 2019-20. The MBA program ranked #29 among public universities, based on survey responses from MBA students, alumni, and corporate recruiters about their goals and experiences, as well as compensation and job-placement data from each school.Continue Reading


ISS National Lab and Boeing Partner for 6th Consecutive Year to Award $500,000 for Microgravity Research Through MassChallenge

International Space Station U.S National Laboratory – The International Space Station (ISS) U.S. National Laboratory and Boeing [NYSE: BA] have partnered for the sixth consecutive year to provide up to $500,000 in grants to innovative startups through the MassChallenge (Boston) startup accelerator program.

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While CT’s reserves rise, Wall Street compensation shrinks

Hartford Business Journal – While Connecticut’s budget reserve just hit a new high, one of the driving forces behind that accomplishment may be cooling down. According to a recent report from the New York State Comptroller Thomas DiNapoli, compensation on Wall Street was down 6% last year, driven by a 17% drop in bonuses.

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Alum Helps Disruptor ‘Fundbox’ Solve Small Business Cash-Flow Needs

Fundbox Director of Finance Steven Groccia '10 (BUS).  (Contributed Photo)
Fundbox Director of Finance Steven Groccia ’10 (BUS). (Contributed Photo)

For many small business owners, the months-long gap between completing a job and getting paid threatens the growth, potential, or even solvency of their firms.Continue Reading