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.
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
That was one of the powerful messages shared by World Wrestling Entertainment (WWE) Co-President George Barrios ’87, ’89 MBA, one of the keynote speakers at the Geno Auriemma UConn Leadership Conference in Stamford, Conn.Continue Reading
Those unfamiliar with the finance discipline sometimes underestimate the tremendous good that analysts and investors bring to the world, said Yiming Qian, who has just joined the faculty as a full professor and holds the new position of Toscano Family Chair in Finance.Continue Reading
For years, Real Estate Professor John Clapp has been warning of the over-construction of malls and shopping centers, recognizing that the economy wasn’t going to be able to support so many retail locations.Continue Reading