http://www.tuck.dartmouth.edu/news/articles/ en Scott.P.Fletcher@tuck.dartmouth.edu Copyright 2013 2013-06-07T20:04:39+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/is-this-what-great-nations-do http://www.tuck.dartmouth.edu/newsroom/articles/is-this-what-great-nations-do America’s latest jobs report was again lamentable. Over half of the jobs created were in the low-productivity, low-wage industries of temporary help services, retail trade, and food and drinking establishments. Average hourly earnings increased by one cent. Over 21 million Americans remain unemployed or underemployed. While any job creation is better than no job creation, what America sorely needs are millions of high-productivity, high-wage jobs connected to the global economy. The U.S. Congress is currently considering legislation that would catalyze precisely this sort of job creation. This legislation isn’t focused on tax rates or government spending. Instead, it’s simply focused on admitting more workers into the U.S. economy. Not just any kind of workers: the special kind called “skilled immigrants.” In a new report, Matt Slaughter and co-author Gordon Hanson document the dynamic contributions talented immigrants have long made to the U.S. economy—and point out that there could be even more such contributions if U.S. law expanded the number of talented immigrants admitted into the United States. For generations, highly talented immigrants in science and engineering have been a catalyst for innovation, job creation, and rising standards of living in America. Immigration has played a vital role in helping American companies—young and old, small and large, U.S.-based and foreign-based alike—meet their growing demand for talent, which spurs job creation and raises incomes for American workers and their families. Talented immigrants do not take slices of a fixed pie away from native-born workers.  They make the pie bigger, to the benefit of all Americans. Today, foreign-born individuals make up 20 percent of science, technology, engineering, and math (STEM) workers with bachelor’s degrees and 40 percent of those with advanced degrees. Among all U.S. workers with both a STEM doctorate and in a STEM occupation, 60 percent are immigrants. In the key STEM fields of computer science, computer programming, and software development, over 50 percent of U.S. workers with a master’s degree are immigrants. Talented immigrants to the United States also have a track record of entrepreneurship. One quarter of U.S. high-technology firms established since 1995 have had at least one foreign-born founder. These new companies employ 450,000 people and generate more than $50 billion in sales. Immigrants or their children founded 40 percent of Fortune 500 companies, including firms behind seven of the 10 most valuable global brands. Despite the fragility of the U.S. economy overall, America’s demand for H-1B visas is today very strong. It is so strong that within one week after U.S. Citizenship and Immigration Services began accepting new H-1B petitions on April 1, it announced that approximately 124,000 petitions had already been filed – for just 85,000 slots. Any petitions received after close of business April 5 were rejected, and USCIS then allocated the fiscal 2014 H-1B visas via lottery. This most-recent H-1B visa lottery reprises the similar lotteries due to similarly strong demand in the pre-crisis years of 2007 and 2008. Is this what great nations do? Accept via random chance only a fraction of the world’s brightest yearning to enter, and then turn away the rest? Surely America can do better. Whether that happens is now in the hands of 535 elected representatives in Washington, D.C. There is reason to hope. Cross your fingers. Commentary, 2013-06-17T11:45:19+00:00 http://www.tuck.dartmouth.edu/newsroom/journalists/press-releases/tuck-professor-kevin-lane-keller-named-executive-director-of-the-marketing http://www.tuck.dartmouth.edu/newsroom/journalists/press-releases/tuck-professor-kevin-lane-keller-named-executive-director-of-the-marketing Kevin Lane Keller, the E.B. Osborn Professor of Marketing at the Tuck School of Business at Dartmouth, has been named executive director of the Marketing Science Institute (MSI), a leading organization that aims to bridge the gap between marketing science theory and business practice. An international leader in the study of marketing strategy and brand management, Keller will begin his two-year appointment in July 2013. During his appointment he will continue to teach on the faculty at Tuck. Keller is the third member of Tuck’s marketing faculty to serve as executive director of the institute. “As an organization, the Marketing Science Institute is unique in how it brings together thoughtful practitioners and practical-minded academics,” said Keller. “Its blend of rigor and relevance is exactly what we do at the Tuck School and in the marketing area, and I look forward to the opportunity to help with MSI’s efforts to produce innovative research with significant managerial impact.” Keller’s involvement with the Marketing Science Institute is longstanding. He previously served as an academic trustee with the organization from 2000 to 2006, and is a frequent speaker at MSI conferences. As executive director, he will oversee the quality and content of MSI-sponsored research, and facilitate the matching of research interests between MSI’s corporate members and academics. With more than 90 published papers, Keller’s research has been widely cited and has received numerous awards. His textbook, “Strategic Brand Management,” now in its 4th edition, has been adopted by top business schools and leading firms around the world. He is also the co-author, with Philip Kotler, of the bestselling introductory MBA marketing textbook of all time, “Marketing Management,” now in its 14th edition. About The Marketing Science Institute The Marketing Science Institute is a learning organization dedicated to bridging the gap between marketing science theory and business practice. MSI is a corporate-membership-based organization. In addition, leading researchers from universities worldwide participate in MSI research programs. As a nonprofit institution, MSI financially supports academic research for the development of leading-edge marketing knowledge on topics of importance to business. MSI supports studies by academics on these issues and disseminates the results through conferences and workshops. 2013-06-14T15:31:13+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/tuck-professor-kevin-lane-keller-named-executive-director-of-the-marketing http://www.tuck.dartmouth.edu/newsroom/articles/tuck-professor-kevin-lane-keller-named-executive-director-of-the-marketing {media1}Kevin Lane Keller, the E.B. Osborn Professor of Marketing at the Tuck School of Business at Dartmouth, has been named executive director of the Marketing Science Institute (MSI), a leading organization that aims to bridge the gap between marketing science theory and business practice. An international leader in the study of marketing strategy and brand management, Keller will begin his two-year appointment in July 2013. During his appointment, he will continue to teach on the faculty at Tuck. Keller is the third member of Tuck’s marketing faculty to serve as executive director of the institute. “As an organization, the Marketing Science Institute is unique in how it brings together thoughtful practitioners and practical-minded academics,” said Keller. “Its blend of rigor and relevance is exactly what we do at the Tuck School and in the marketing area, and I look forward to the opportunity to help with MSI’s efforts to produce innovative research with significant managerial impact.” Keller’s involvement with the Marketing Science Institute is longstanding. He previously served as an academic trustee with the organization from 2000 to 2006, and is a frequent speaker at MSI conferences. As executive director, he will oversee the quality and content of MSI-sponsored research, and facilitate the matching of research interests between MSI’s corporate members and academics. With more than 90 published papers, Keller’s research has been widely cited and has received numerous awards. His textbook, “Strategic Brand Management,” now in its 4th edition, has been adopted by top business schools and leading firms around the world. He is also the co-author, with Philip Kotler, of the bestselling introductory MBA marketing textbook of all time, “Marketing Management,” now in its 14th edition. About The Marketing Science Institute The Marketing Science Institute is a learning organization dedicated to bridging the gap between marketing science theory and business practice. MSI is a corporate-membership-based organization. In addition, leading researchers from universities worldwide participate in MSI research programs. As a nonprofit institution, MSI financially supports academic research for the development of leading-edge marketing knowledge on topics of importance to business. MSI supports studies by academics on these issues and disseminates the results through conferences and workshops. School News, 2013-06-14T15:10:24+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/new-leaders-in-the-business-of-health-care http://www.tuck.dartmouth.edu/newsroom/articles/new-leaders-in-the-business-of-health-care {media1}It wasn’t until after college, doing workforce development at the New York nonprofit Seedco, that Kate Head T’13, TDI’13 (at right) really understood the connection between health care and poverty. “My clients often couldn’t get jobs because they had a lot of health problems,” she recalls. “Seeing the services they couldn’t access made me interested in the challenges of health care.” For Catherine Augustyn T’13, TDI’13 (below), a career in health care was in the plan all along—both of her parents were doctors and she assumed she would be one too. But a job in health care consulting after graduating from Princeton University showed her she didn’t need to be a physician to have a stimulating job in the field. “I started to realize I liked the strategy, operations, and management we were recommending to our clients,” she says. {media2}As the first Tuck students to receive the joint MBA-MPH degree with The Dartmouth Institute for Health Policy and Clinical Practice (TDI), Head and Augustyn are now poised to take leadership positions in the highly specialized sector that ignited their passion years ago. Head will join the Chartis Group, which provides consulting to medical centers. Augustyn will be a project manager under the chief financial officer at the Massachusetts Eye and Ear, a hospital affiliated with Harvard Medical School. Tuck has long recognized the value of integrating management and health care—the MD-MBA joint degree with the Geisel School of Medicine was first offered in 1998—but in the last five years the school has made a deliberate effort to draw health care issues deeper into the MBA curriculum. Since health care spending is the largest single component of the U.S. economy—accounting for about 20 percent of GDP—this added attention only makes sense; the business opportunities are legion, and the need for better efficiency and value is acute. As a result, and with the support of numerous Tuck alumni, Tuck launched the Health Care Initiative (HCI) in 2008. The HCI has expanded the Tuck curriculum to include more courses on health care, networked with alumni doing consulting and finance work in the field, developed career paths in health care for students, and organized the annual Uhrig speaker series on health care.  And over the last several years a large and active Tuck Health Care Club has been developed which now has over 100 student members. “The Health Care Initiative provides great benefits even for the students not interested in health care,” says Paul B. Gardent, an adjunct professor of business administration at Tuck and co-executive director of the HCI. “There’s nothing more complex as an organization than a medical center.” That complexity provides perfect case studies for MBA courses such as Operations Management and Managing Complex Organizations, among others. Similar opportunities exist in finance, marketing, and entrepreneurship. The MBA-MPH program is a natural extension of that theme, designed for students who want to combine the comprehensive management education available at Tuck with the fluency of health policy and clinical practice issues afforded by TDI. “The combination of those two programs we thought would be a really terrific marriage,” says Gardent, who is also the director of the joint degree program. The MPH degree at TDI is a one-year, 56-credit program for full-time students, and it is integrated into the two-year MBA program at Tuck so that joint-degree students graduate with the classmates with whom they started. While the workload of fitting three years of education into two years is considerable—roughly 30 percent more than a typical MBA—the first graduates report that it is manageable, especially when you account for Tuck’s minimum requirement of four courses per term. “You lose some of the travel opportunities in the MBA to do the MPH coursework,” says Head, “and you sacrifice a little relaxation time in your second year, but I think it’s worth it.” For students who want to take more time for the MPH but still graduate with their MBA class, it’s possible to push some of the TDI coursework, or the internship and final project, into the final summer. “Tuck is very supportive of that,” says Augustyn, “especially if it means you get more out of the program. Tuck in general is a place that’s small enough that you can make it what you want.” In addition to the regular courses in the MPH program, students complete a capstone project that applies their learning to a real-world situation. It’s akin to the First-Year Project at Tuck—developing methodologies, doing analysis, making recommendations—but more research-based and individual. The final product is a 20- to 40-page paper and a presentation to faculty. Augustyn did a quality improvement study at Massachusetts Eye and Ear; Head designed a sanitation system intervention for a community in Tanzania, fulfilling a curiosity about global public health. Reflecting on that project, Head was impressed with her ability to drop into an unknown place and make real strides for health care improvement. “I had all these different public health models to represent the different issues,” she explains, “but also had the business school related issues like budget and timeline. I can now wear these different hats.” Commenting on Head and Augustyn, Gardent concluded, “If our first two graduates are any indication, our MBA-MPH joint degree students are going to really enrich both the Tuck and TDI student bodies. And we know these graduates will play a leadership role in improving health care.” School News, 2013-06-13T21:02:57+00:00 http://www.tuck.dartmouth.edu/newsroom/journalists/press-releases/political-veterans-to-join-tucks-center-for-global-business-and-government http://www.tuck.dartmouth.edu/newsroom/journalists/press-releases/political-veterans-to-join-tucks-center-for-global-business-and-government Former U.S. Senator Judd Gregg, former New Hampshire Governor John Lynch, and former White House speechwriter Matthew Rees will join the Tuck School of Business at Dartmouth July 1 as senior fellows at the Center for Global Business and Government.  “It is truly an honor to have Judd Gregg, John Lynch, and Matthew Rees join the Center for Global Business and Government,” said Matthew Slaughter, faculty director of the center and the associate dean of faculty at Tuck. “Together, they bring enormous breadth of insight into the interactions between public policymakers and the private sector grounded in their experiences as senior leaders in government, business, and the media.” At Tuck, their duties will include working with the center to further develop and enrich the school’s connections to expert practitioners in the private and public sectors, as well as overseeing research and analysis projects conducted with MBA students on subjects at the intersection of global business and government. The appointments of Gregg, Lynch, and Rees will further expand opportunities for Tuck MBA students and alumni interested in areas such as market regulation, fiscal policy, and management. Judd Gregg, a Republican, had a political career spanning three decades. He was U.S. senator for New Hampshire from 1993 to 2011, the state’s governor from 1989 to 1993, and a U.S. representative from 1981 to 1989. In the Senate, he held leadership posts as chairman of the Senate Budget Committee and chairman of the Senate Health, Education, Labor, and Pensions Committee. He is currently chief executive officer of the Securities Industry and Financial Markets Association. John Lynch, a Democrat, was governor of New Hampshire from 2005 until January of this year. Before entering politics, Lynch served as CEO of office furniture manufacturer Knoll Inc., director of admissions at Harvard Business School, and president of The Lynch Group, a Manchester, N.H.-based consulting firm. In January, he was named a Perkins Bass Distinguished Visitor at Dartmouth College’s Nelson A. Rockefeller Center. Matthew Rees is a former speechwriter in the Executive Office of the President, where he wrote for George W. Bush, Condoleezza Rice, and Robert Zoellick. During a 10-year career in journalism, Rees worked for The Weekly Standard, The Economist, The New Republic, and The Wall Street Journal. He is also the creator of FT Newsmine, a weekly financial email produced in collaboration with the Financial Times, and the founder of Geonomica, an editorial consulting firm. Established in 2012, Tuck’s Center for Global Business and Government is dedicated to programs and activities that prepare business leaders to better understand, shape, and succeed in the dynamic interactions between business and government in the global economy. It regularly hosts seminars and speeches by senior officials in business and government, enriches the MBA program through on-campus and travel programs that address global business and economic trends and provides individual advising for students seeking to globalize their MBA experience. Faculty Director Matthew Slaughter is also the Signal Companies’ Professor of Management at Tuck and a former member of the White House Council of Economic Advisers. 2013-06-13T19:18:17+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/political-veterans-to-join-tucks-center-for-global-business-and-government http://www.tuck.dartmouth.edu/newsroom/articles/political-veterans-to-join-tucks-center-for-global-business-and-government {media1}“It is truly an honor to have Judd Gregg, John Lynch, and Matthew Rees join the Center for Global Business and Government,” said Matthew Slaughter, faculty director of the center and the associate dean of faculty at Tuck. “Together, they bring enormous breadth of insight into the interactions between public policymakers and the private sector grounded in their experiences as senior leaders in government, business, and the media.” At Tuck, their duties will include working with the center to further develop and enrich the school’s connections to expert practitioners in the private and public sectors, as well as overseeing research and analysis projects conducted with MBA students on subjects at the intersection of global business and government. The appointments of Gregg, Lynch, and Rees will further expand opportunities for Tuck MBA students and alumni interested in areas such as market regulation, fiscal policy, and management. Judd Gregg, a Republican, had a political career spanning three decades. He was U.S. senator for New Hampshire from 1993 to 2011, the state’s governor from 1989 to 1993, and a U.S. representative from 1981 to 1989. In the Senate, he held leadership posts as chairman of the Senate Budget Committee and chairman of the Senate Health, Education, Labor, and Pensions Committee. He is currently chief executive officer of the Securities Industry and Financial Markets Association. John Lynch, a Democrat, was governor of New Hampshire from 2005 until January of this year. Before entering politics, Lynch served as CEO of office furniture manufacturer Knoll Inc., director of admissions at Harvard Business School, and president of The Lynch Group, a Manchester, N.H.-based consulting firm. In January, he was named a Perkins Bass Distinguished Visitor at Dartmouth College’s Nelson A. Rockefeller Center. Matthew Rees is a former speechwriter in the Executive Office of the President, where he wrote for George W. Bush, Condoleezza Rice, and Robert Zoellick. During a 10-year career in journalism, Rees worked for The Weekly Standard, The Economist, The New Republic, and The Wall Street Journal. He is also the creator of FT Newsmine, a weekly financial email produced in collaboration with the Financial Times, and the founder of Geonomica, an editorial consulting firm. Established in 2012, Tuck’s Center for Global Business and Government is dedicated to programs and activities that prepare business leaders to better understand, shape, and succeed in the dynamic interactions between business and government in the global economy. It regularly hosts seminars and speeches by senior officials in business and government, enriches the MBA program through on-campus and travel programs that address global business and economic trends and provides individual advising for students seeking to globalize their MBA experience. Faculty Director Matthew Slaughter is also the Signal Companies’ Professor of Management at Tuck and a former member of the White House Council of Economic Advisers. School News, 2013-06-13T17:54:00+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/tuck-ward-the-2013-overseers-medal-todon-m.-wilson-iii-t73-1 http://www.tuck.dartmouth.edu/newsroom/articles/tuck-ward-the-2013-overseers-medal-todon-m.-wilson-iii-t73-1 Don Wilson is a man of impeccable standards and intelligence, and he has used both in his many years of dedicated, passionate service to Tuck. A forthright advisor who has fostered a spirit of continuous improvement and shown unalloyed zeal for Tuck, Don is a model for all Tuck alumni now and in the future. Don has a bachelor’s degree in economics from Harvard University, where he also studied in the pre-med curriculum and derived great satisfaction from taking organic chemistry. Since graduating from Tuck in 1973, Don has had a successful career in corporate and investment banking. As a managing director and general manager at Chemical Bank, Don headed up offices around the world, from Tokyo and South East Asia to London, Europe and the Middle East. He finished his career at JPMorgan Chase, serving as a managing director in the investment banking division and as the chief risk officer for the institution. In addition to being a banker, husband and father, Don is also a philanthropist with a strong record of public service. He is a director of the Goodwill Industries of Greater New York and Northern New Jersey, a member of the Council on Foreign Relations, and has established scholarship funds at Harvard and Tuck. Tuck has been extremely fortunate to be a focus of Don’s public service for more than a decade. He joined the board of overseers in 2001, serving for 12 years over the course of four terms. For more than six years he and his wife Lynn have opened their home in the fall for alumni events. He has spent time at Tuck as a visiting executive, imparting wisdom and perspective to students in the Financial Institutions course, and is a former Class Head Agent. But Don’s most important work at Tuck has come during his more than nine years as the executive chair of Tuck Annual Giving—a term longer than that of any other chair before him. From the beginning of Don’s tenure to the present day, TAG alumni participation has increased from 60 percent to a record-breaking 71 percent, generating roughly 47 million dollars for the school. While Don’s effect on Tuck could be expressed in numbers, his impact on the school has been truly immeasurable. In recognition of his distinguished career and his generous service to Tuck, the Tuck School of Business Board of Overseers is pleased to honor Don M. Wilson, III with the Overseers’ Medal for 2013. School News, 2013-06-12T15:49:17+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/tuck-ward-the-2013-overseers-medal-todon-m.-wilson-iii-t73 http://www.tuck.dartmouth.edu/newsroom/articles/tuck-ward-the-2013-overseers-medal-todon-m.-wilson-iii-t73 The Board of Overseers of The    Don Wilson is a man of impeccable standards and intelligence, and he has used both in his many years of dedicated, passionate service to Tuck. A forthright advisor who has fostered a spirit of continuous improvement and shown unalloyed zeal for Tuck, Don is a model for all Tuck alumni now and in the future. Don has a bachelor’s degree in economics from Harvard University, where he also studied in the pre-med curriculum and derived great satisfaction from taking organic chemistry. Since graduating from Tuck in 1973, Don has had a successful career in corporate and investment banking. As a managing director and general manager at Chemical Bank, Don headed up offices around the world, from Tokyo and South East Asia to London, Europe and the Middle East. He finished his career at JPMorgan Chase, serving as a managing director in the investment banking division and as the chief risk officer for the institution. In addition to being a banker, husband and father, Don is also a philanthropist with a strong record of public service. He is a director of the Goodwill Industries of Greater New York and Northern New Jersey, a member of the Council on Foreign Relations, and has established scholarship funds at Harvard and Tuck. Tuck has been extremely fortunate to be a focus of Don’s public service for more than a decade. He joined the board of overseers in 2001, serving for 12 years over the course of four terms. For more than six years he and his wife Lynn have opened their home in the fall for alumni events. He has spent time at Tuck as a visiting executive, imparting wisdom and perspective to students in the Financial Institutions course, and is a former Class Head Agent. But Don’s most important work at Tuck has come during his more than nine years as the executive chair of Tuck Annual Giving—a term longer than that of any other chair before him. From the beginning of Don’s tenure to the present day, TAG alumni participation has increased from 60 percent to a record-breaking 71 percent, generating roughly 47 million dollars for the school. While Don’s effect on Tuck could be expressed in numbers, his impact on the school has been truly immeasurable. In recognition of his distinguished career and his generous service to Tuck, the Tuck School of Business Board of Overseers is pleased to honor Don M. Wilson, III with the Overseers’ Medal for 2013. Paul Danos Dean Tuck School of Business at Dartmouth June 8, 2013 Christopher J. Williams T’84 Chairman, Board of Overseers Tuck School of Business at Dartmouth June 8, 2013 2013-06-12T15:49:07+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/the-education-technology-revolution http://www.tuck.dartmouth.edu/newsroom/articles/the-education-technology-revolution It’s graduation season at colleges and universities here in the United States. Yesterday at Dartmouth, about 1,800 students earned various degrees—including 266 newly minted Tuck MBAs. Graduation traditionally brings celebration: of a hard course of study completed, and of a job offer well earned. In recent years, however, graduation increasingly brings anxiety. All is not well with American higher education. Many of you know the anecdotes: kith or kin who borrowed heavily to pursue a degree, only to find that the next step was to underemployment as a barista—or, even worse, to unemployment and back home on mom and dad’s basement couch. The more systematic data are even more sobering. The Federal Reserve Bank of New York estimates in a recent report that total student debt in America had reached $966 billion at the end of 2012—an amount that has nearly tripled in just eight years, driven by a 70 percent increase in both the number of student-loan borrowers and the amount each borrower owes. Last month, McKinsey released a report based on a recent survey of 4,900 recent college graduates in America. The report, “Voice of the Graduate,” speaks of “a cry of help—an urgent call to deepen the relevance of higher education to employment and entrepreneurship so that the promise of higher education is fulfilled.” How plaintive is the cry? Sit down. Forty-two percent of graduates of four-year colleges are in jobs that do not require a four-year degree, and 41 percent are not working in the same field they desired before graduation. If granted a mulligan, 53 percent of all graduates would select a different major, a different school altogether, or both. Liberal-arts graduates fare the worst. According to the McKinsey report, “they tend to be lower paid, deeper in debt, less happily employed, and slightly more likely to wish they’d done things differently.” While you remain sitting (or curled up in a ball), let us share two optimistic thoughts. The first is that, although all is indeed not well with American higher education, much still is. Some of this cry likely reflects the cyclical damage of the Great Recession. College graduates still fare much better in the labor market than those without a college degree, with higher average earnings and lower average unemployment rates. And America’s best schools remain among the world’s best. This is especially true in the STEM (science, technology, engineering, and mathematics) fields, which are the source of so much innovation and productivity growth. Today in engineering, all of the world’s top 10 universities are in the United States, as are nine of the top 10 in life sciences, and seven of the top 10 in both natural sciences and mathematics. The second reason for optimism is that higher education has vast opportunity to innovate and address shortcomings in areas such as quality, cost, and relevance. Just how vast can be seen in the chart below, which documents the cumulative change from 2000 through 2012 in U.S. prices for five major industries (as measured by the U.S. Consumer Price Index of the Bureau of Labor Statistics). To read this chart, keep in mind that high-innovation, high-productivity-growth industries tend to be ones with falling, not rising, prices. Start at the bottom, with personal computers, which have experienced a stunning price decline of almost 87 percent. This industry is among the world’s most technologically innovative, in part because of how globally engaged it is. The net combination of these dynamic forces—what is commonly called the IT revolution—has long provided consumers with new and better products: massive innovations that mean for consumers dramatic price declines. Next is apparel, with a price decline of about 3 percent: quite innovative, actually, again in large part because of its global engagement. Then comes the overall CPI, rising a bit more than 32 percent, and health-care services—an industry rising just over 64 percent. (Footnote: that two-x differential of health costs over all costs is, if left unchecked over the next generation, what threatens U.S. fiscal solvency.) {media1}That leaves the red line: college tuition and fees, rising more than 108 percent. We would like to tell you this increase has been entirely driven by strong demand for a product of consistently high quality. This may be part of the story, but students crying for help suggest that strong demand isn't the whole story. Productivity is hard to measure in education, but what measures scholars use do not reveal anything near IT productivity-growth rates: e.g., many college classrooms today look like college classrooms 100 years ago. The future of U.S. higher education can be much brighter. Schools that figure out how to be more productive—how to innovate what they teach to whom and how—will discover a surge in interest among students, parents, and employers. The emergence of MOOCs—massive online open courses—is an example of this potential. Indeed, innovative schools might catalyze education’s version of the IT revolution.  Call it the Education Technology, or ET, revolution. For all those anxious students, parents, and educators alike, let’s bring it on. Commentary, 2013-06-10T12:18:28+00:00 http://www.tuck.dartmouth.edu/newsroom/articles/jobs-for-tucks-class-of-2013-plentiful-and-diverse http://www.tuck.dartmouth.edu/newsroom/articles/jobs-for-tucks-class-of-2013-plentiful-and-diverse The vast majority of Tuck students in the class of 2013 are finding well-paying, fulfilling careers. On the eve of Tuck’s June 8 investiture ceremony, Tuck’s Career Development Office (CDO) estimates that the percentage of the graduating class that has accepted or received job offers is equal to, or slightly better than, the numbers in 2011 and 2012, Tuck’s strongest employment years. This is a testament to the students’ hard work and the strength of the Tuck curriculum and network. For CDO director Jonathan Masland, there’s another reason to celebrate: students this year are being more selective about where they will work. “This class is more willing to roll the dice and not jump at the first opportunity,” he says. “They’re also taking more time to explore less traditional jobs, and moving to new cities with the confidence they can find work when they get there.” Among those who have accepted jobs, the choices of four students illustrate the success and diversity of the career paths for the class of 2013. Ashley Conti – DDJ Capital Management – Boston, Mass. Ashley Conti came to Tuck with an admittedly niche career goal: to work at an investment management company that specializes in high-yield debt and special situations, in Boston. Right away, she limited her potential employers to roughly four. That meant she had to work extra hard in and out of the classroom to make her dream a reality. During her first year at Tuck, while she and her classmates were adjusting to the rigorous demands of business school, Conti did a mini-internship with Tuckerman Capital, in Hanover. There, Nicholas Russell T’10 helped her look at companies as investments, something she didn’t have to do in her previous job helping distressed firms get through bankruptcy. To get specific experience in investing in distressed companies, Conti convinced Marianna Fassinotti T’07 to let her see the inner workings of her New York firm, Siguler Guff & Company. Her connection with her ultimate employer—DDJ Capital Management—also came through Tuck. The founder of the company had visited Tuck a few years ago to speak in a class, so Conti emailed him to talk about distressed investing. Eventually she met another person at the firm, through a classmate. Those relationships resulted in a summer internship at DDJ, a mid-sized firm that does opportunistic high-yield investment, loaning money to companies with a higher risk profile than average. “I noticed when I was working in my internship how much I had changed since before Tuck,” she explains. “The core curriculum really gave me a strong base set of skills. I learned how to think better, and I gained the confidence to have an opinion and speak my mind.” That confidence will be important in her full time job at DDJ, which she starts this summer. “I got exactly what I wanted out of business school,” she says. “I learned a tremendous amount, and I got a job that I really enjoy.” Henrique Thielen – Samsung Global Strategy Group – Seoul, Korea Henrique Thielen is from Caracas, Venezuela, but he’s also lived in Panama, Colombia, Mexico, and the U.S. That nomadic history would leave some people tired of traveling, but not Thielen. “I love changes and challenges,” he says. Which is why, even after receiving a job offer from PepsiCo in U.S., where he was a summer intern, Thielen chose to take a position in Korea with the Global Strategy Group (GSG) of Samsung Electronics. While he’ll be based in Korea, the job entails traveling across the globe to work with the company’s various business units to develop strategies and implement projects. “It’s a huge change from what I’ve been doing, and from a cultural perspective too,” he says. Thielen is one of five T’13s going to work for Samsung in Korea this year, and he will join a strong contingent of Tuck alumni who are already working there. This reflects Tuck’s close relationship with the company, which recruits for GSG positions at Tuck and just a handful of other business schools in the U.S. But even with that advantage, Thielen still benefited from the Tuck network during his interview process. “Reaching out to Tuck alumni at Samsung was phenomenally helpful,” he shares. “They helped me understand the company and to prepare for the interviews and presentations that were part of the application process. If I hadn’t contacted Tuck alumni, I probably wouldn’t have gotten the job.” Ying Zhao – Vornado Realty Trust – New York, N.Y. During breaks from her job as an auditor for Ernst & Young in Beijing, Ying Zhao liked to walk around the restaurants and retail stores beneath her office building, which spanned two blocks and straddled a subway station. She realized she liked real estate when she started making mental notes of the vacancies and was excited about what store or eatery would move in. She had come a long way from her small village in northeastern China, but she wanted to go further. Zhao came to Tuck with the specific desire to break into the real estate industry, a historically tight-knit sector where it really helps to know someone. After a summer internship with a real estate private equity fund, and a mini-internship with an owner-operator of high-end retail outlets in Europe, Zhao sent an email to the CEO of Vornado Realty Trust, who is also a member of the Dartmouth Board of Trustees. Vornado, one of the largest real estate firms in the U.S., owns more than 100 million square feet of retail and office space, primarily in New York and Washington, D.C. To Zhao’s surprise, the CEO agreed to meet with her. He connected Zhao with an executive vice president in the Acquisitions and Capital Markets Team, and they hit it off. While going through an extended vetting process for another job opportunity, Vornado again surprised Zhao, this time with an offer of employment. This summer, she will join the firm as an associate in Acquisitions and Capital Markets, doing market research, valuation, underwriting, and building models; in essence, following the entire transaction cycle. “It’s literally exactly what I wanted to do,” Zhao says. Ankur Kumar – Bain & Company – Houston, Texas Two weeks after graduating from New York University, Ankur Kumar unexpectedly found himself entering Officer Candidates School in Quantico, Va. What happened? For one, his parents had come from India and he felt so grateful for the opportunities in the U.S. that he wanted to give back. Then 9/11 occurred and Kumar was in lower Manhattan watching the towers come down. “I saw that as an attack on our way of life,” he says. Even though Kumar had an exhilarating job in the Marine Corps—flying CH-46 transport helicopters—he knew that the military wasn’t his ultimate career. “I wanted to gain the knowledge and credibility to enter the business world,” he explains, “and I thought the best way to do that was in business school.” Given his background with aviation, Kumar took an internship with the aerospace company United Technologies Corp. “After the internship, I wanted to branch out from aerospace and get exposure to different industries and different problems,” he says. The perfect venue for that, he learned, was consulting. Bain & Company has a long history with Tuck and is one of the many consulting firms that recruits on campus. Kumar was helped through the process by Jackie O’Brien T’12, who talked to him about office locations and the different industries he might be working in. “When I mentioned I was interested in the Houston office, she immediately put me in touch with the people there,” he says, “and it was really helpful to have conversations with them about what type of work they’re doing, and the lifestyle and work culture.” School News, 2013-06-07T20:04:39+00:00