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In This Edition
Reserve Your Room Now: AT&T Executive Education and Conference Center Taking Reservations
The AT&T Executive Education and Conference Center, scheduled to open Aug. 1, 2008, is now taking individual room reservations. This new facility—which is only footsteps away from the Blanton Museum of Art, Texas State History Museum, Texas Capitol and the Tower—will feature four-star accommodations and give guests access to all the resources Austin and The University of Texas at Austin have to offer. For more information, visit www.meetattexas.com.
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Clement Research Analyzes the Stock Analysts
 Michael Clement, associate professor of accounting, lectured on "Who are those high-paid stock pickers?" Feb. 12, as part of the Faculty Research Presentation Speaker Series. Clement researches analysts’ behavior and performance, and examines which characteristics are shared by the most accurate earnings forecasters. “Anytime I see someone making that much money, I wonder if they really are that good, and if some are actually better than others,” Clement said.
Read more, and watch a video of the lecture.
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Media: Does Option Demand Spur Market Volatility?
Wall Street Journal, Feb. 20, 2008
 Options offer investors protection against sharp moves in the value of their stock. But some observers think surging demand for options may be increasing the frequency of big market swings. Through options, investors get the right to buy or sell stock at fixed prices. The Wall Street banks that broker those deals end up taking the other side of the trade. If their clients make money, the banks lose. To offset that exposure, banks have to “delta hedge. ”That means selling stock when clients make bets that prices will fall and buying stock when clients stake out positions that will pay off if prices rise. “I see derivatives activity occasionally accentuating a trend that exists for good and cogent reasons,” said Ehud Ronn, McCombs finance professor. “In the equity markets, if individuals are dynamically hedging put options, then as prices fall they would sell more and indeed accelerate the process.”
Read the article (subscription required ).
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Kachelmeier Named Top Editor at Accounting Review
 Accounting Professor Steve Kachelmeier has been named the next senior editor of the Accounting Review and will assume his new role this spring. In his career, Kachelmeier has investigated a wide variety of issues involving auditing, financial reporting, international accounting, management accounting and taxation. Kachelmeier served as an associate editor at the Accounting Review (1999-2002) and Accounting Horizons (2003-06), and he has also been a member of the editorial boards of five academic journals.
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Graduate Business Council Selects Nine Teachers for Applause Awards
Each semester the Graduate Business Council hands out its Applause Awards to honor the full-time MBA students’ favorite teachers. The latest winners, announced Feb. 19, are: Michael Brandl, Doug Dierking, Greg Hallman, Lisa Koonce (right/left), Sandy Leeds, Kate Mackie, James Nolen, Robert Parrino and Kevin Williams. Congratulations!
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McCombs Takes Third in Case Competition to Help New Orleans Public Schools
An MBA team from McCombs finished third in a case competition hosted by the Haas School of Business at UC-Berkeley Feb. 14-15 which featured 12 of the top business schools in the nation. The Education Leadership Case Competition was designed as a showcase for MBAs to bring attention to critical issues in education, and to provide an opportunity for talented and dedicated graduate students to create potential solutions for the issue. Abbey Goldstein, Colin Murphy and Christina Steiner represented McCombs in the competition, which concentrated on helping New Orleans Public Schools.
Read more.
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