Finance

School of Business Retirees Gather for Business, Friendship

Posted on by Melissa Ferrigno

2015-03-03-retireesgatheringAddressing a gathering of retired- and almost-retired UConn faculty, School of Business Dean John A. Elliott urged them to use their expertise to help mentor junior staff and graduate students.

Dean Elliott thanked those congregated for their years of service to the School of Business, their willingness to act in an advisory capacity to him and to newer faculty, and recognized them as a vital connection to some of the School’s most illustrious alumni.

Rob Hoskin, Harry Johnson, Keith Johnson, Lin Klein, Jeffrey Kramer, Richard Norgaard, David Palmer, Murphy Sewall, James Sfiridis, Susan Spiggle and Crayton Walker were among those assembled, with their significant others, at the beautiful Mansfield home of Richard Norgaard and Karen Zimmer. Dean Elliott’s charming wife, Laura Philips, also attended the first formal gathering of retired faculty on Dec. 7.

Other important purposes of the meeting were to reinforce contacts among lifelong colleagues, share memories and enjoy each other’s company.  Attendees enjoyed a catered, champagne brunch, entered a drawing for door prizes and shared stories of those who could not be present that day but wished to be remembered to all, such as Karla Fox who was in New York at the birth of her fourth grandchild.

One interesting discovery is the creative outlets in which some retirees are engaged.  Michael Lubatkin has just published a scholarly book, but focused more in the area of philosophy than in management.  Dick Kochanek has been painting for a number of years and his artwork has evolved such that he is currently receiving accolades at juried shows.  Rob Hoskin has honed his skills as a craftsman and produces beautiful objects in wood.

Among those who could not attend is Steve Messner.  His daughter would love to deliver any notes and well wishes, so please write to Steve in care of: Stephanie Brown, 144 Woodleaf Drive, Winter Springs, FL 32708.

Planning is underway to host a Spring 2015 event on the Storrs campus. More information will be provided soon.  Those wishing to remain in touch should contact Cynthia H. Adams, Professor Emerita from the former School of Allied Health, at cindyadams930@gmail.com or 860-230-8951.

Photos from the gathering can be viewed here.

Plan Sponsors Act Defensively in Making Investment Decisions

Posted on by Melissa Ferrigno

Plan Advisor – Newly published research finds that plan sponsors’ expectations of performance are driven by past performance, investment consultants’ recommendations, and soft factors which they identify in their asset managers, such as having a consistent investment philosophy, clear decisionmaking processes and capable investment professionals.

Researchers Howard Jones, from the Saïd Business School, University of Oxford, and Jose Martinez, from the University of Connecticut School of Business, say the partial dependency of expected performance on past performance and soft factors is not, in itself, irrational. Investors could use such variables as signals of future performance. However, what they did find irrational is that past performance is relied upon when it is uninformative about future performance, and the same was true for soft factors.

The Connecticut Economic Outlook: February 2015

Posted on by Claire Hall

UConn economists at The Connecticut Center for Economic Analysis predicted strong economic progress and growth for the state in a report released Wednesday.

One model predicts Connecticut’s gross domestic product would grow 4.85 percent in 2015 and in 2016, but a second model predicted even more robust growth. The group also anticipates strong progress in the jobs market, from the current level of 1.69 million jobs in December 2014 to 1.73 million by the end of 2016.

The economists urged state government to invest in education, transportation and high-speed communications systems to enable long-term economic and job growth. The same organization also warned that extensive government ‘belt tightening’ could damage the state’s robust recovery and thwart its chance at sustained employment growth.

Report Finds “Conflicts of Interest” Have No Effect on FDA Advisory Committee Votes

Posted on by Melissa Ferrigno

Policy and Medicine – Stringent conflicts-of-interest policies keep many experts off of FDA advisory committees. A new study suggests that the fear of pro-industry bias underlying these policies may be misplaced, and also serves to keep highly qualified candidates off of these committees.

James C. Cooper, director of research and policy at the Law and Economics Center at George Mason Law School and Joseph Golec, professor of Finance of the University of Connecticut, who conducted the study, sought to compare conflicted members’ voting patterns with objective criteria. They found that decisions by advisory committees with conflicted members to recommend drugs were more likely to be consistent with both the ultimate FDA decision as well as stock market predictions than non-conflicted advisory committees and members.

Numbers Are In: High Hopes For 2014 Connecticut Home Sales Went Unfulfilled

Posted on by Melissa Ferrigno

Hartford Courant – A new report from Connecticut Realtors shows that the promise early in 2014 for a third year of gains in home sales fizzled by the end of the year. “They are being cautious and more conservative before they make a big purchase like a home,” said Jeffrey P. Cohen, associate professor of real estate and finance at the University of Connecticut’s Center for Real Estate in Storrs.

Builders See Promise in Homes for the Aging Set

Posted on by Melissa Ferrigno

ctpost.com – “The over-55 group needs to sell their current homes before they can think about buying into an over-55 community, so I see the market for existing homes as an indicator as to the future of over-55 home construction,” said Katherine Pancak, professor-in-residence of finance and real estate at the University of Connecticut School of Business.