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How many receipts do you have in your wallet? No, really, how many? And how many of those will you never look at again? Bradley Ericson, the 19-year-old Drexel University student whose idea to eliminate paper receipts on college campuses has earned him accolades, is willing to bet that you have a lot of them. Ericson, now a sophomore at the University’s LeBow College of Business, found inspiration for his company, 3SecondReceipts, when he found himself up to his ears in little slips of paper.

Entrepreneur

Mark Loschiavo, executive director of Drexel University's Baiada Center for Entrepreneurship, and Timothy Ericson, CEO of CityRyde, were quoted in an article for Entrepreneur about how experience isn’t necessary in order to be successful as an entrepreneur."We started from nothing," says Ericson, CEO and co-founder of CityRyde, a bike-sharing consulting firm. "We basically spent our first two years becoming experts in an industry that was totally new to us."Ericson, who had experience in business and information technology before founding CityRyde, is one of many entrepreneurs to start a business either with no "domain" experience--experience in the industry in which they're looking to start a business--or with strong domain experience but little entrepreneurial know-how.Loschiavo says this can be a stumbling block for entrepreneurs with strong domain experience but no business experience.

Philadelphia Business Journal

A Drexel University sophomore from Bergen County, N.J., is Entrepreneur magazine’s 2009 College Entrepreneur of the Year.Bradley Ericson, a student in Drexel’s LeBow College of Business, is the co-founder and CEO of 3Second Receipts LLC, which is developing a system to enable users to give customers digital receipts instead of printed ones.Ericson is profiled in the magazine’s January issue, which is on sale and online now. He also will receive $5,000 in startup capital for his company and be the subject of a follow-up article in the magazine in 2011.

The Philadelphia Inquirer

Peco Energy Co. chief executive Denis O'Brien received Drexel University's LeBow College of Business 2009 Business Leader of the Year award Dec. 3 at the Park Hyatt at the Bellevue. O'Brien, who also is a vice president of Exelon Corp., earned a Drexel MBA in 1987 and is a university trustee. Attended by 675 guests, the luncheon raised more than $400,000 to establish a scholarship fund and support academic programs at LeBow.

Entrepreneur.com

Timothy Ericson and Jason Meizner, recent LeBow College graduates and founders of CityRyde LLC, a startup housed in the College’s Laurence A. Baiada Center for Entrepreneurship, are featured in an article titled “Entrepreneurship: No Experience Necessary: Six tips for starting a business with little industry experience or business know-how.” Mark Loschiavo, executive director of the Baiada Center, is also quoted. “We started from nothing,” says Ericson, CEO and co-founder of CityRyde, a bike-sharing consulting firm. “We basically spent our first two years becoming experts in an industry that was totally new to us.” “Domain experts … need a passionate belief that there’s a problem out there that needs to be solved, and need to be flexible about the solution to it,” says Loschiavo.

Entrepreneur Magazine

LeBow College of Business sophomore Bradley Ericson was recently named College Entrepreneur of the Year by Entrepreneur magazine. Ericson will be featured in January issue of Entrepreneur, and will appear on the issue's cover. A follow-up story about the progress of his business, 3SecondReceipts, will appear in the magazine in 2011. The Philadelphia Inquirer, The Philadelphia Business Journal, KYW News Radio, and WHYY News also covered this accomplishment.

The New York Law Journal

A recent New York Law Journal article titled "Say-on-Pay: Less May Be More," referenced a research paper by Jie Cai and Ralph Walkling titled “Shareholders’ Say on Pay: Does it Create Value?”

Newswise

LeBow College of Business alumnus Douglas S. Briggs, a member of the Drexel 100 honorary society, was appointed to the board of trustees of the Wistar Institute, an independent nonprofit biomedical research institute.

KYW News Radio

George Tsetsekos, Ph.D., dean of LeBow College of Business, was interviewed for a December 3 broadcast on KYW1060 News Radio about the sale of NBC to Comcast.“The Comcast Tower at 15th and Arch Streets will likely become a familiar sight throughout the country,” Tsetsekos said. “We hope that, given the presence of Comcast here, a lot of corporate activities will take place and a lot of interactions will take place from here – as opposed to New York.“Tsetsekos credits Comcast’s senior leadership for transforming what was once a mom-and-pop cable company into a media empire. 

The Philadelphia Inquirer

Peco Energy Co. chief executive Denis O’Brien was honored as Drexel University’s LeBow College of Business 2009 business leader of the year. O’Brien earned a Drexel MBA in 1987 and is a university trustee. He’s also a vice president of Exelon Corp., Peco’s parent company.O'Brien was also featured in December 3 broadcasts of WPVI (6ABC) and KYW1060 News Radio.  

CBS 3

Bert Rosenbloom Ph.D., a marketing professor at LeBow College of Business, was interviewed for a segment on Black Friday merchandising for a CBS 3 newscast that aired Tuesday, November 24."Retailers have cut back dramatically on the amount of inventory that they carry this year," said Rosenbloom. "The commando shopper ... just goes in, gets the discounted item, the loss leader item, and gets out."

The Triangle

LeBow College of Business hosted José Goñi, the Chilean ambassador to the United States, Nov. 13 as part of its “A View from the Top” lecture series, which introduces notable leaders of the world to Drexel students and community. Goñi’s presentation largely dealt with Chile’s success over the past decade, and focused on the country’s poverty rates and economic data over recent years. According to Goñi, the Chilean poverty rate has fallen to about 10 percent since 1990. Goñi also stressed that despite the global recession, the Chilean government has maintained a balanced budget, which has aided the country’s rise on the world stage.

The Triangle

BusinessWeek has ranked the part-time MBA program at Drexel University’s LeBow College of Business first in the country for academic quality, and tenth overall in its 2009 rankings. LeBow was the only Philadelphia part-time MBA program to rank within the top thirty. “The Drexel part-time MBA is committed to exceeding the needs of our students and alumni and is a key factor in their upward mobility, as evidenced by the achievements of our MBA students and alumni,” George Tsetsekos, dean of the LeBow College of Business. “To be ranked No. 1 in academic quality by BusinessWeek is a testament to our growing stature as one of the world’s leading resources for business education. This ranking validates the rigorous experiential education, leadership assessment, and global perspective that LeBow provides,” Tsetsekos stated.

KOVR CBS 13 Sacramento & KFBK News Radio Sacramento

The Drexel Part-Time MBA program has received widespread media attention after being ranked No. 1 for academic quality and No. 10 overall in the nation by BusinessWeek's 2009 rankings. Broadcast stories on CBS 13 Sacramento and KFBK News Radio Sacramento both covered this prestigious ranking.In ranking LeBow College of Business No.1 in academic quality, BusinessWeek combined six equally weighted measures: average GMAT score, average student work experience, the percentage of instructors who are tenured, average class size in core business classes, the number of business electives available to part-timers, and the percentage of students who ultimately complete the program. 

Sacramento Business Journal

The Sacramento Business Journal carried a story announcing that the Drexel Part-Time MBA program has been ranked No. 1 in academic quality among its peer programs by BusinessWeek magazine. The Drexel Part-Time MBA program is offered at Drexel’s Sacramento Center for Graduate Studies as well as on the main campus and in Malvern, PA.

4Hoteliers

A research article co-authored by Pravin Nath, Ph.D., assistant professor of marketing, was quoted in a 4Hoteliers article about the position of chief marketing officers being at the verge of extinction."[A] study by Pravin Nath... found that the presence of a CMO had no impact on a firm's performance and that firms with CMOs do not perform better, and may perform worse, than those without them," the article reports.

The Philadelphia Inquirer

Roger McCain, PhD, professor of economics, was quoted in a Philadelphia Inquirer article about the SEPTA strike’s cost to the region. The biggest direct cost we all experience is time lost. McCain, who said it took him 25 minutes to drive down Market Street from 30th Street to 34th Street Wednesday morning, said time is the ultimate scarce resource. Scarcity is what economics is all about, McCain said.

Reuters

Denis O’Brien, president and CEO of PECO and executive vice president of Exelon, will receive Drexel University’s LeBow College of Business 2009 Business Leader of the Year Award at a luncheon on December 3 at The Park Hyatt Philadelphia at The Bellevue. A Drexel alumnus, O’Brien received his MBA in 1987 from the University’s LeBow College of Business and is a University trustee. In his current position, O’Brien is responsible for strategic leadership and oversight of all of PECO’s operations. O’Brien has more than 25 years of utility experience in engineering, operations, strategic planning and executive management.

Rapaport Diamond Report

Maria Olivero, assistant professor of economics at the LeBow College of Business, was quoted on an article in Rapaport titled “The Consumer Psyche.” “It is the American consumer that drives the world economy,” says Olivero.  While business leaders point to an increase in consumption in emerging markets like China and Brazil, Olivero says those consumers are not ready to take the spending baton from American shoppers. “Getting consumers to spend in other parts of the world can’t happen if Americans aren’t spending — their economies still depend on the United States,” she says.

Fox News

Jie Cai, Ph.D., assistant professor of finance at LeBow College of Business and a fellow at our Center for Corporate Governance, was quoted in a Fox News article titled "Who Represents Taxpayers' Stakes in TARP Banks? Good Question."“If the U.S. government still holds those shares when Citigroup holds its next shareholder meeting, then the U.S. government is just like any other shareholder,” Cai said. “And just like any other shareholder, they can vote any way they like.”Cai noted that the bank hopes to do that, but that efforts to raise money by issuing additional shares will depend on market conditions. “It will be interesting to see how it plays out,” he said.  

The San Francisco Chronicle

A column in the San Francisco Chronicle refers to a research paper authored by LeBow College professors Eliezer Fich, Ph.D., associate professor of finance, and Jie Cai, Ph.D., assistant professor of finance, as well as Anh L. Tran, in listing questions that the reporter prepared for a potential interview with President Barack Obama. The proposed question: “Might the promised financial reforms address issues like ‘springloading?’ That is, the granting of new stock options to CEOs and other corporate honchos ‘systematically timed’ with takeover talk concerning their companies, according to a research paper from Drexel University’s LeBow College of Business.”

Entrepreneur.com

Mark Loschiavo, executive director of LeBow College’s Baiada Center for Entrepreneurship, commented on a story about the television program “Shark Tank,” in which entrepreneurs vie for start-up capital from investors. Be realistic, Loschiavo, says. “Venture capitalists or private-equity folks are always going to view the value of a business significantly lower than an entrepreneur believes it is worth. There’s always a chasm between what the entrepreneur wants and what the venture capitalists are willing to offer in terms of equity and investment.” “Venture capitalists can be excellent sources of feedback, whether they invest in your product or not,” Loschiavo says. “You can really learn a great deal about how to improve your plan or product, because these folks are going to pick up on any possible pitfalls.”

The Wall Street Journal

Eliezer Fich, Ph.D., associate professor of finance at LeBow College of Business, was quoted in a Wall Street Journal article about the practice of awarding stock options to top executives while engaging in negotiations to be acquired. “It’s very selfish behavior by these CEOs,” argues Fich, co-author of a research paper on the topic with Jie Cai, an assistant professor of finance at LeBow College, and Anh L. Tran. “They want to get the last nickel from the company, regardless of what’s in the best interests of shareholders.” Their paper, which has been presented at academic conferences but not yet published, examined 110 deals between 1999 and 2006 in which target company CEOs were given unscheduled stock-option grants while takeover discussions had started but hadn’t yet been made public.

KYW News Radio

Ed Nelling, Ph.D., a LeBow College of Business professor of finance, commented on a story about why American Express has just repealed monthly service fees on gift cards. “Especially in the current economic climate with everyone watching every dollar so closely, people were averse to using these gift cards or giving these gift cards to someone when they know that the gift card may waste away after some time.

iStockAnalyst

AN iStockAnalyst article entitled “It’s Not Easy Getting Green” references the CNBC article “Stock Option Grants to Target CEOs During Private Merger Negotiations,” authored by Eliezer Fich, associate professor of finance at LeBow College of Business.

CNBC

Eliezer Fich, associate professor of finance at LeBow College of Business, wrote an article for CNBC on findings outlined by his research paper co-authored with Jie Cai, an assistant professor of finance at LeBow College, and Anh Tran, entitled “Stock Option Grants to Target CEOs During Private Merger Negotiations.”  “My co-authors and I were baffled to discover that target CEOs, such as Marvel’s Perlmutter, are not technically in violation of Sections 10(b) and/or 16(b) of the 1934 Securities Act which penalize insider trading,” Fich writes. “Specifically, these laws state that ‘any person purchasing or selling a security while in possession of material, nonpublic information shall be liable in an action in any court of competent jurisdiction…’.”

MSN

David Becher, an assistant professor of finance at Drexel University’s LeBow College of Business, commented in an article entitled "Why a Meltdown Could Happen Again."“We haven’t changed the rules. The banks are still allowed to do what they did before, so there’s always the threat these products they are issuing can go ‘underwater’ again,” says Becher.

WMGK-FM

David Becher, PhD, associate professor of finance at LeBow College of Business, did a business update about the current mortgage crisis that aired on WMGK-FM.  “The housing market may be bottoming, but concerns remain. Waiting sellers may flood the markets and overwhelm a weak rebound. As mortgage rates reset higher, more Americans may be unable to afford their homes,” Becher said. “Millions owe more than their house is worth; this won’t change unless prices rise dramatically. While encouraging signs exist in the housing market, we are not out of the water yet.”

Agenda

In an article about the abrupt resignation this month of two directors on Hershey’s board over the creation of a risk committee, Ralph Walkling, executive director of the Center for Corporate Governance at LeBow College of Business, said he questions why the formation of a separate committee would have inhibited the full board from entertaining the acquisition or sale of the company anyway.“In general, on a typical board, just because you appoint a subcommittee to look at a particular issue does not mean you have relieved the full board of its responsibilities. The board still has oversight, and the subcommittee would still report to the full board,” he says.

Forbes

A recent Forbes article entitled “How to Start a Business From Your Dorm Room” features Baiada Center for Entrepreneurship executive director Mark Loschiavo and LeBow College sophomore and CEO of 3SecondReceipts LLC Bradley Ericson. Ericson is currently a contender for Entrepreneur magazine’s “College Entrepreneur of the Year” contest. “One of the first things that I do is ask students why they want to be an entrepreneur. Over the last five years, fewer and fewer of them say that they want to get rich, and more say ‘I want to make a difference,’” Loschiavo says.