McCombs School in the News
December 2004
MBAs See Rise in Job Offers
Austin American-Statesman, Dec. 30, 2004
The MBA job market appears to be more promising for students. Two
years ago, jobs were hard to come by, but now MBA graduates are
getting multiple job offers with starting salaries of $90,000,
signing bonuses, moving expenses and sometimes other perks. At the
McCombs School, by December students had seen an increase in the
number of job offers, a doubling of on-campus interviews and a 48
percent increase in company presentations from over a year ago.
“Much like the firms that were rushing to hire our graduates in the
go-go ‘90s, business schools have learned our lessons over the past
four years,” said J.B. Bird, a spokesman for McCombs. A greater
emphasis on teaching business fundamentals has produced “a higher
percentage of students interested in the management opportunities
that firms have to offer,” he said.
Read the Statesman story (requires free registration).
Dell to Open New Plant in Winston-Salem
The Winston-Salem Journal, Dec. 23, 2004
Dell is scheduled to open a 500,000-square-foot plant in
Winston-Salem this fall to serve customers on the East Coast.
Workers at the new plant will produce only the computers, not the
monitors or keyboards. Some of the company’s suppliers are expected
to follow Dell. “Dell is primarily an assembler and marketing
company,” said Andrew Whinston, a professor of management science
and information systems (MSIS) at McCombs. “They cut sharp deals
with their suppliers.” Tim Ruefli, also a professor of MSIS at
McCombs, explains that by moving, Dell’s suppliers will continue to
deliver parts efficiently and to respond quickly to production
needs.
Read the Winston-Salem Journal story.
Professional Development Training Benefits Companies
The Austin Business Journal, Dec. 17, 2004
Investing in outside business consulting and training has been shown
to reap results that existing managers can’t always offer their own
companies. Larry Abeln, associate dean at McCombs, suggests that
outside professional development training may be so successful
because it provides a more neutral forum in which organizations can
solve issues, develop strategies and implement goals. “Companies may
find that needed answers are found directly from employees in their
organizations sharing best practices and engaging in beneficial
conversations,” Abeln said.
Read the Austin Business Journal story.
New Laws Put Accounting Students in High Demand
Houston Chronicle, SmartPros Accounting, Dec. 11-14, 2004
Companies are going the distance to fill their accounting needs. As
the demands of the profession increase with enforcement of the
Sarbanes-Oxley Act, some firms are traveling more than 2,000 miles
in search of employees. “Regardless of Sarbanes-Oxley, accounting
has always been viewed as one of those disciplines that impart basic
business skills that can be applied to other professions,” said
Richard Joseph, a professor of accounting at McCombs. “But at
orientation I ask the incoming students why they’re here, and they
say it’s because of a perceived demand.” UT Austin has one of the
largest accounting programs in the country, with about 575 students
in the Professional Program in Accounting and about 140 in a
one-year master’s program.
Read story at SmartPros Accounting.
Rao Discusses Pending Sale of Schlotzky’s Assets
National Public Radio, Dec. 4, 2004
After filing for Chapter 11 bankruptcy, Schlotzky’s planned to sell
some of its franchise and company-owned stores, as well as recipes
and other intellectual property. Ramesh Rao, a professor of finance
at McCombs, says that Schlotzky’s could emerge stronger after the
sales, but that it will still need to make major changes to meet
challenges. In particular, Rao says, the company should illuminate
operating inefficiencies that arise as a result of poor sales in
some of its menu items, including its wine section.
Listen to the KUT segment.
McCombs Students Take First in Entrepreneurship Contest
Austin Business Journal, Dec. 3, 2004
McCombs students are at it again. In the annual Shirley Murphy
Entrepreneur contest, a team of four students took the top prize and
$15,000 for their start-up business, uShip. The team consisted of
MBA ‘04 graduates Matthew Chasen, Jack Manickam and Mickey Millsap
and BBA ‘05 Neha Agrawal. The four developed uShip, a company that
connects those who need to ship furniture and other large items to
drivers who will be passing through their locations. The firm allows
the drivers and customers to agree on a price, and then charges the
driver a transaction fee of 7.9 percent of the agreed-upon price.
The team was one of two from UT Austin to win prizes in this year’s
contest.
Read the Austin Business Journal story.
U.S. Marine, a McCombs Student, Dies in Combat
Austin American-Statesman, National Public Radio, KEYE, et al., Dec.
3-12, 2004
Marine Cpl. Zachary Kolda, a 23-year-old international business
senior at McCombs, died in enemy action in Iraq Dec. 1 shortly after
an explosion in the Anbar province. Stationed out of Camp Mabry,
Kolda’s reserve battalion left for Iraq in August, just before he
was scheduled to start his final undergraduate year at UT Austin.
Kolda’s close friends remember him as a spirited soldier who kept
morale high through compassion, leadership and humor. “Every time I
got down, he’d always be there saying, ‘Come on man, come on man,’”
said Cpl. John Elmore. Kolda is the second UT Austin student to die
while fighting in Iraq. He is survived by his wife, Arleen Kolda.
See local and national stories on Kolda’s life.
Friendship Good for Business
USA Today, Nov. 30, 2004, Indianapolis Star, Dec. 13, 2004
Contrary to popular belief, mounting research indicates that having
best friends in the workplace may actually benefit business. In a
survey of more than five million workers, the Gallup Organization
found that those who have a best friend at work are seven times more
likely to be engaged in the workplace than those who don’t.
Furthermore, while Gallup says there is nothing in research that
suggests bosses should avoid best friendships with subordinates, a
study by James Westphal, a management professor at McCombs, says
CEOs are more likely to have friendships with other CEOs,
particularly with CEOs within the same industry. Friendship equals
trust, which can be important between competitors, Westphal says.
Read the USA Today story.
UT Austin Addresses Internet Security Concerns
Austin Business Journal, News 8 Austin, News 24 Houston, Nov.
30-Dec. 3
In response to increasing electronic crime, the University has
established a new security center, the Center for Information
Assurance and Security. Surveys show that 43 percent of 500 polled
organizations reported an increase in electronic crime in 2003,
despite the use of firewalls and security systems. “We hope to be
able to build concepts, prototypes that demonstrate…a hacker-free
Internet,” said Fred Chang, the center’s director. The ultimate goal
for the center is to conduct research that will lead to innovative
cybersecurity solutions and address the need to produce more trained
professionals in the field. In its efforts to be a
multi-disciplinary initiative, the center will include researchers
and students from the McCombs School, the Department of Computer
Sciences, the College of Engineering and the Applied Research
Laboratories.
Read the Austin Business Journal story.
Read the News 8 Austin story
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
