Media Mentions

Philadelphia Business Journal

Donna DeCarolis, Ph.D., associate dean of strategic initiatives at Drexel University’s LeBow College of Business, said credit cards have been the most popular option for small businesses. But two-thirds of small business owners have reported major rate increases and 41 percent said their credit lines were reduced in the past year, according to a recent study from the National Small Business Association. A Federal Reserve study shows that 41 percent of banks tightened credit in the past year and 70 percent raised interest on credit loans. “These [small businesses] are angry,” DeCarolis said. “They are good customers who pay their minimum balance. But the other side of things is that Advanta needs to stay afloat.”

The Triangle

The LeBow College of Business held an opening reception for its new Center of Excellence, the Center for Corporate Reputation Management, the first interdisciplinary one of its kind in a United States academic institution. The center opened June 1 and will begin hosting activities in the fall, according to Elliot Schreiber, clinical professor of marketing in the College of Business and executive director of the center. A number of programs are being considered, including events to enhance students’ co-op experience and ways to obtain research money for graduate students.

CNBC.com

Dow Jones announced that Cisco and Travelers will be replacing GM and Citigroup on the Dow as of next week. As of late this morning, the two new components are both up over 4 percent.  Often when a company is added to a major index, it sees a lift in its share price both from the publicity as well as from the need for tracking funds to buy the new components.  But is there an arbitrage play to profit even more? Eliezer Fich, Ph.D., associate professor of finance at Drexel University's LeBow College of Business, says he believes there is.

WHYY News Radio

Paul Jensen, Ph.D., associate professor of economics, spoke about the ramifications of GM's bankruptcy on WHYY News Radio. "Bankruptcy could pay off for consumers," Jensen said, adding that it could lead to better products at lower prices.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna DeCarolis, Ph.D., discussed the increasing decision small business have to make regarding health coverage for their employees. Increasing costs of healthcare premiums and decreasing sales in the economy is forcing small businesses to either drop health coverage or lay off workers. 10% of small businesses are considering eliminating health care coverage this year compared to 3% percent in 2005. There are ways of reducing healthcare costs for small businesses such as cost sharing with employees, requiring generic drugs to fill prescriptions and shopping around for competitive insurance prices.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., business commentary covered alternative approaches to leadership. New research suggests that a willingness to share ones weaknesses is an excellent attribute that contributes to leadership since by sharing your flaws with coworkers it gives them a sense of trust and solidarity. The key to this alternative approach is to reveal selective weaknesses such as being a workaholic and not ones that will be taken as a fatal flaw.

Business Wire

PHILADELPHIA--(BUSINESS WIRE)--Drexel’s LeBow College of Business will soon be home to the first Center for Corporate Reputation Management at a U.S. university. With an official launch planned for fall 2009, the Center will get off the ground with its first advisory council meeting today, June 1, 2009. Under the direction of Elliot Schreiber, Ph.D., the Center will actively engage the global business community to identify best practices in reputation, encourage interdisciplinary knowledge sharing and research in reputation, and address how reputation enhances business objectives of organizations.

Toiletpaperentrepreneur.com

Mark Loschiavo, Director of the Baiada Center, was featured in the article "31 Ways To Get Inspired" found on Toiletpaperentrepreneur.com. He was listed under #7, Tips From The Best, where he recommends a book and a video that will help entrepreneurs gain inspiration.

Business Wire

American Water Works Company, Inc, the largest investor-owned U.S. water and wastewater utility company, announced today that its senior vice president and CFO, Ellen Wolf, has been named a finalist in the Philadelphia Business Journal’s 2009 CFO of the Year Award Program. The CFO of the Year finalists will be recognized and the winners will be ranked during an awards ceremony and lunch on July 9, 2009 at the Sheraton City Center Hotel in Philadelphia. The CFO of the Year Awards is a program of the Philadelphia Business Journal, and is presented by Marsh, with support from Drexel University’s LeBow College of Business. For more information on the program, please visit www.bizjournals.com/philadelphia.

Entrepreneur Magazine

While studying abroad in Paris during his junior year at Drexel University, Timothy Ericson was impressed by the environmentally friendly bicycle-sharing system he encountered. After doing some research, Ericson learned that the program had 20,600 bicycles, 1,451 stations and more than 42 million users, and he saw an opportunity to take the concept back home and make some money while promoting a healthier environment. “Hopping on a bicycle to go to school and work would be a great convenience for me,” says Ericson, 23. “But beyond the convenience factor, this system reduces carbon emissions, which is something I believe in strongly.”

The Philadelphia Inquirer

A Drexel connection also helped princetongreen.org land a Florida residential developer as a client. Jay C. Lewis, president and founder of Surrey Homes near Orlando, had gone through the Drexel M.B.A. program with Ulshafer. After 10 years working around here for Ryan Homes, Lewis headed to Florida to start his own home-building company in January 2007. He kept in touch with Ulshafer.

The Placer Herald

Dr. George Tsetsekos, Dean of Drexel University’s LeBow College of Business, was the guest speaker at a May 5 luncheon attended by approximately 100 business and community leaders at Whitney Oaks Country Club in Rocklin. Sponsored by Granite Community Bank, the luncheons are designed to keep area leaders informed on a number of fronts. Tsetsekos provided his assessment of the economy and offered some positive signs that were encouraging. Pictured with Tsetsekos are David Kaiser, President and CEO of Granite Community Bank, center, and Tobey Oxholm, Dean and CEO of Drexel University’s new Center for Graduate Studies in Sacramento.

Philly.com

Former Flyers tough guy Eddie Hospodar hasn't played hockey in 20 years, but this spring he collected his greatest assist. Driving to the Palestra for the St. Joe's-Temple game, his father, John, made a passing remark that one of his regrets in life was not finishing his master's degree at Drexel. John Hospodar, now 85, had worked at Campbell's in Camden and was transferred to Ohio in 1957 just short of completing his degree. Eddie Hospodar had no idea his father even attended Drexel. He called the school to see if Dad could resume his schoolwork and eventually met with George Tsetsekos, dean of Drexel's LeBow College of Business

Middle East Economic Survey

In a commentary for Middle East Economic Survey, Shawkat Hammoudeh writes: They say crocuses are the early signs of spring. They bloom before the daffodils, tulips and certainly roses do, and while the weather is still cold. When such a metaphor is applied to the U.S. economy, some people are now referring to what I call economic crocuses as the ‘green shoots’ or ‘mustard seeds’ of the economic recovery. Admittedly, when I wrote a first version of this post in March,  I said that it was premature to talk about an early recovery in the US economy, but now in May the situation has strengthened and reinforced the theme of the first version, pointing to a faster than expected modest recovery in the coming months. I believe now that there are stronger early economic signs which signal that the U.S. recession has bottomed out.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis', Ph.D., business commentary covered the role venture capitalists play in international strategies. Dr. DeCarolis mentioned that in a study of high tech companies that underwent an IPO, researchers investigated whether the international experience of a venture capitalist on the board of a new venture was related to the company going global. The results showed that companies that have venture capitalists with international experience tend to go global. Other companies that have the potential of expanding abroad are more likely to go global if company management has international experience.  

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., did a business commentary covering office communication and how email, instant messaging, cell phones and texting are supposed to facilitate communication within an office but instead are causing communication breakdowns. Different generations use different methods of communication, boomers prefer email and cell phones and face to face communication. Generation Y prefer instant messaging, email and cell phones while Generation X prefer cell phones and texting and avoid emailing. This causes disparity in the workplace since everyone might not be using the same means of communication. Companies are now setting rules of communication when sending out messages establishing what methods are appropriate for different situations.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna DeCarolis, Ph.D., discussed self efficacy and overconfidence in entrepreneurs and how this can lead to a decrease in performance for a new company, for her business commentary. Self efficacy and overconfidence are main factors in deciding to start a business and normally is assumed will lead to better performance but research have shown that it is the opposite. This is commonly seen in industries that are dynamic and uncertain since entrepreneurs have unrealistic assessments and expectations of what they can accomplish and the outcomes they expect to gain. Entrepreneurs in ambiguous situations need to be more cautious than usual with their behavior and strategies.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis', Ph.D., business commentary covered outsourcing for entrepreneurs involved with new ventures. Outsourcing has its pros and cons such as allowing a professional to do their part in an area that might not be your strongest. This might be more expensive at first but in the long run it’s better to have a professional do it right the first time. On the other end entrepreneurs might want to have more control over such duties as design and public relations to ensure quality and strategic consistency. The important aspect of outsourcing is finding the balance that will give you a competitive edge to boost your business to the next level.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna DeCarolis, Ph.D., discussed how rude employees and bad behavior affect small businesses for her business commentary. Information from a recent study of managers and employees across industries suggests that behavior is costly to the firm as a whole. Employees who are victims of toxic behavior reported a decrease in commitment to the company and performance since they spend time worrying about co-worker's behavior. “Managers should not tolerate or ignore rude behavior. Appropriate social behavior should be part of performance evaluations. Offenders should be warned and reprimanded and if all else fails dismissed." 

Nasdaq.com

PHILADELPHIA -(Dow Jones)- There should be a market mechanism, not dependence on regulators, to address the problem of banks being “too big to fail,” said William Poole, former president of the Federal Reserve Bank of St. Louis and senior fellow at the Cato Institute.Speaking Thursday at a conference organized by the Global Interdependence Center and Drexel University’s LeBow College of Business, Poole said there must be creditors - not just stock holders - that are at some risk of loss.

Philly.com

William Poole, former president of the Federal Reserve Bank of St. Louis, will give the keynote address for the 27th annual Monetary and Trade Conference at Drexel University Thursday at 11:15 a.m. His topic will be “Saying Good-bye to Too Big to Fail,” referring to the phrase we’ve all heard far too often over the last year. The conference, which is jointly sponsored by the Global Interdependence Center and Drexel’s LeBow College of Business, will present several other speeches with suitably gloomy titles, such as “Searching for a Bottom” and “Creative Destruction in the Banking Industry: What’s Left and What’s Next.”

The Bottom Line

Dr. David Campbell, department head and professor of accounting, was featured in an article in The Bottom Line titled "Many in U.S. still have IFRS fears." Dr. Campbell discussed how businesses are reluctant to switch over to IFRS since the SEC is discussing a possible extension to the 2011 implementation of IFRS. Even though the switch is inevitable there is no rush for early adoption, this means that 1,100 foreign SEC registrants no longer have to reconcile the IFRS financial statements to U.S. GAAP statements said Campbell.

GreekNews.com

LeBow College of Business Dean George Tsetsekos, Ph.D., received the Hellenic Heritage Achievement Award for his outstanding achievements, and innovation strategies in education. Upon receiving his award, Mr. Tsetsekos said, “It’s always wonderful to be recognized for professional achievements, but being recognized by an organization connected to my heritage is something very special to me. Today it is estimated that more than three thousand academics of Hellenic heritage are involved in education and various roles at universities across the United States. They are part of the intellectual fabric of this great country. The Greek ideals of freedom and democracy provided the foundation upon which the West was built. It is in these challenging times it is with honor and distinction that Greek American faculties exemplify our Hellenic ideals in continuing the path of our ancestors to enrich the lives of generations to come.”

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis’, Ph.D., business commentary covered lowering price to attract or retain customers. She started by mentioning the three components of the customer relationship, price, service and quality, and how crucial they are in making this decision since by lowering one you might be lowering another . If lowering the price is not an option she recommended business owners to show how their product is different, better and how it contributes to the customers bottom line and goals. Competitors also may lower their price which requires owners to show how their product adds more value and is different than the rest.

USnews.com

U.S. News and World Report picked up the story “When to Lower Your Price Point” published in Entrepreneur.com for their website USnews.com. The story included a section provided by the Director of The Baiada Center, Mark Loschiavo, on price changes.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., discussed for her business commentary how entrepreneurs should handle stress especially now in times of an economic downturn. The main thing to avoid is cognitive distortions where people emphasize the negative and ignore the positive. Instead entrepreneurs should always remember that they are in control and should write down short and long term plans of action since writing will help clarify thoughts. Staying in touch with business associates, family and friends also helps to control stress since they keep you grounded and give you a different perspective on things.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, PhD, shared information on her business commentary about where entrepreneurs can get advice, meet other entrepreneurs or network to discuss the problems and challenges they face. She suggests entrepreneurs seek help and support since going it alone is normally not the best way to handle problems. Empowerment-group.org, phillypreneurs.com, phillystartupleaders.org and founderfactory.com were recommended for entrepreneurs in Philadelphia.

Fox Business

Erik Benrud, Ph.D., has been named Curriculum Director of II Exam Prep, the suite of self-study products for the Chartered Alternative Investment Analyst examinations, produced by Institutional Investor, Inc. Dr. Benrud is Associate Clinical Professor of Finance at the LeBow College of Business at Drexel University in Philadelphia. “We are very pleased to welcome Dr. Erik Benrud as he is very familiar with the CAIA study materials, having earned the CAIA designation recently. He also has extensive experience in writing exam preparatory materials and his own research interests are in alternative investments,” said Allison Adams, publisher of Institutional Investor Journals and II Exam Prep.

Alibaba.com

Mark Loschiavo, senior executive in residence and executive director of the Baiada Center at Drexel University's LeBow College of Business, has pinpointed the following four questions as the most important to consider when thinking about a price change. Are you offering something your customers need?, Are you offering an affordable luxury?, Are you offering something that can help your customers weather the recession?, Are you decidedly better than your competition?

Cloud Computing Journal

Erik Benrud has been named Curriculum Director of the suite of self-study products for the Chartered Alternative Investment Analyst examinations, produced by Institutional Investor, Inc. Dr. Benrud is Associate Clinical Professor of Finance at the LeBow College of Business at Drexel University in Philadelphia. "We are very pleased to welcome Dr. Erik Benrud, as he is very familiar with the study materials, having earned the designation recently. He also has extensive experience in writing exam preparatory materials and his own research interests are in alternative investments," said Allison Adams, publisher of Institutional Investor Journals and IIExamPrep.