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It truly has been a roller coaster of a month for those working in, invested in, or keeping a close eye on the financial markets this past month. It’s been the perfect winter storm of plunging oil prices, jittery investors and even a much over-due market correction. And now, with a pandemic declared, it looks like financial markets will continue on their wild ride due in part to COVID-19. If you are a journalist covering the markets and have questions about what possibly lies ahead – then let us help. W. Todd Roberson, Indiana University Kelley School of Business senior lecturer in finance, can discuss changes to financial markets, including stock markets, bond markets, interest rates and Fed policy changes. Professor Roberson can also give his thoughts and perspectives on what it means for investors and what investors should know and do in response to changing market conditions. Professor Roberson is available to speak with media, and if you would like to arrange an interview contact Teresa Mackin at tmackin@iu.edu or 317-274-2233.
Baylor Sports Marketing Expert Discusses NBA, NCAA Coronavirus Decisions
On Wednesday, the NBA took the unprecedented step to suspend its season following the revelation that one of its players tested positive for coronavirus. In addition, the NCAA announced that the March Madness basketball tournaments will be played, but without fans present. Baylor University’s Dr. Kirk Wakefield is a nationally recognized expert on sports marketing, sports psychology and fan/consumer response. He has conducted research on the sports retail market – including the NBA and all major national organizations – for more than 20 years. In this brief Q&A, he shares his thoughts about these two decisions. Q: This was an unprecedented action by the NBA to suspend the season due to coronavirus. What does this mean for the teams? A: We’ve had work stoppage before with labor lockouts. Fans were angry then, but the majority won’t be now. Most won’t blame the league or the teams. We might see even more passion for the teams as fans are anxious for play to resume. Q: Based on your understanding of the decision-making process, does this seem to be an action that was done thoughtfully? A: It was carefully considered. No one wants to be the one who could have prevented a catastrophe and didn’t take prudent steps. Just like after lockout years, the leagues will recover. Q: The NCAA tournament will be played – but without fans. What does this mean for college sports teams and the NCAA? A: Obviously, viewership will increase – which is good for sponsors with heavy broadcast and digital assets. Sponsors and venues/teams who are reliant on gate revenue will be hit the hardest. ABOUT KIRK WAKEFIELD, PH.D. Kirk Wakefield, Ph.D., is the Edwin W. Streetman Professor of Retail Marketing and executive director of Sports Sponsorship & Sales at Baylor Unviersity's Hankamer School of Business. His research on retailing covers more than two decades and focuses primarily on sports psychology, team sports marketing, entertainment marketing, and fan and consumer response to pricing and promotional tools. He has conducted fan research in almost every venue in sports including the NBA, NFL, MLB, MLS, NHL and NASCAR. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 18,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY At Baylor University’s Hankamer School of Business, integrity stands shoulder-to-shoulder with analytic and strategic strengths. The School’s top-ranked programs combine rigorous classroom learning, hands-on experience in the real world, a solid foundation in Christian values and a global outlook. Making up approximately 25 percent of the University’s total enrollment, undergraduate students choose from 16 major areas of study. Graduate students choose from full-time, executive or online MBA or other specialized master’s programs, and Ph.D. programs in Information Systems, Entrepreneurship or Health Services Research. The Business School also has campuses located in Austin and Dallas, Texas. Visit www.baylor.edu/business and follow on Twitter at twitter.com/Baylor_Business.
What Coronavirus Means for the Workplace
As the World Health Organization (WHO) has declared the coronavirus (COVID-19) a pandemic, organizations, schools and large public events have been scrambling in an effort to figure out what will happen next. But what if your employer doesn't have a formal work from home (or remote) policy? "Given that a high percentage of families have two working parents, managers need to understand that their usual expectations for productivity are going to have to adjust," says Narda Quigley, PhD, professor of management in the Villanova School of Business. In addition, it will be a completely different dynamic for the manager-employee relationship. Deadlines and tasks will need to be fluid in a more virtual workday, Dr. Quigley says. "It is impossible to expect that there wouldn't be an extreme impact on the processes that organizations depend on for day-to-day functioning, and so the goals have to change accordingly. Productivity goals and expectations probably need to be tabled (or at least dramatically decreased) until more about COVID-19 is understood. The organizations that are able to be nimble in the face of an unknown and developing situation, yet understanding of the urgency of public health directives and the needs of their employees, will emerge from this situation with valuable experience that may help them weather the next unexpected situation." Dr. Quigley also notes that women may be negatively impacted by an extended work from home period. "As work transitions to the home sphere, one question to consider is whether this disruption will have a longer-term adverse impact on the careers of women, rather than men. Given the continued prevalence of traditional gender roles and expectations around caretaking in many American families, women will likely be expected to focus less on work when they are working from home, particularly if they have children at home or individuals in their families who are sick. "Upon transitioning back into their regular working lives, women may find themselves further than ever from their next promotion. Organizations must be cognizant of this and understand that there are likely 'hidden' ways that women are contributing to their ongoing ability to operate—and without this activity, their ability to continue with business-as-usual would grind to a halt. However, this would require a fundamental, culture-wide rethinking of how we value what stands as work in this society, as American cultural norms are so strongly gender-specific."
Recognizable companies including Google, Twitter and Eli Lilly all are encouraging their employees to work at home to prevent spread of the coronavirus. Research on the benefits and drawbacks of “working from home is still in its infancy, but researchers have generally found that telecommuting can function as a double-edged sword, said Erik Gonzalez-Mulé, assistant professor of organizational behavior and human resources at the Indiana University Kelley School of Business. “On the one hand, telecommuting can increase productivity because it enhances employees’ feelings of control and autonomy. With the freedom to choose when and how to do their work, employees generally experience greater motivation and satisfaction,” Gonzalez-Mulé. “Of course, there is a caveat here, in that managers should take care to maintain the same performance management systems they use for ‘in-residence’ employees, such as setting specific goals, ‘checking in’ on goal progress, using regular performance evaluations, and the like. “The idea is to communicate to employees that, as long as the work gets done -- which managers can assess with performance management systems -- they can choose when and how to do it,” he added. “On the other hand, recent studies show that telecommuting can increase feelings of isolation. This is because telecommuting workers have significantly less face-to-face contact with their manager and colleagues, which can lead telecommuters to feel alone and socially disconnected. One way to ameliorate these effects is to use technologies that involve virtual face-to-face contact, like Zoom or Skype, or to have at least some ‘real’ face-to-face contact, such as some meetings that are conducted in-person.”
Privacy Issues in Using Facial Recognition Software by Law Enforcement
The Atlanta Police Department is just the latest in criminal investigation units across the U.S. that have adopted facial recognition software to assist in police investigations. But privacy experts are cautiously watching the acceptance of this type of software for possible infringements of a citizen's privacy. The software uses a person’s photograph to search the internet including social media accounts for additional images of a suspect. The process is called “scraping” and Deven Desai, associate professor for law and ethics at Scheller College of Business at the Georgia Institute of Technology expresses concern over the use of the controversial technique, which is becoming more commonly used by hundreds of police departments across the U.S. “The issue becomes one of what we like to call “technical accountability,” said Desai, who cites the reliability of the software, the privacy of citizens, and the length of time images are stored by the departments as just a few factors to consider. How long will a person's photograph be kept and for what means? These are just a few of the questions that continue to raise concerns among some experts who see this new technology as a potential for harm to the public at large. Before fully embracing facial software, the accountability for using this form of spying should be studied in more detail before the practice is adopted widely.
Professor Barry Branch, Ledbetter Professor of the Practice at Scheller College of Business was a featured author in the article “National Rent Report for January 2020 Shows Growing Number of Renters” in the online magazine RENTCafe. Branch discussesd national trends that are leading more young people to rent rather than purchase a single-family home. “Young professionals are increasingly attracted to multifamily projects near their jobs. These buildings are attractive if they offer cutting edge technology that enables residents to work from home; attractive amenities that provide a healthy lifestyle and greater interaction with others; proximity to a variety of retail, food and entertainment attractions as well as public greenspaces; a significant reduction in their reliance on automobiles and access to public transportation; and greater flexibility to adjust to job changes and changes in their personal circumstances,” he said. In the piece he acknowledges the stable economy but notes that increased uncertainty in national, political, and economic environments may lead many people to resist the commitment to purchase a home. However, Branch points to the possibility that a larger demand for rental units may provide less inventory and therefore, an increase in rent prices. He states that “an offsetting factor among renters is the current trend towards rapidly increasing rental rates in many markets, which threatens their ability to manage their cost of living.” To offset these adverse factors, he cites low-interest rates that will incentivize developers to build more units and government programs for creating affordable housing as just a few factors that will continue to keep the rental market thriving. Are you a journalist looking to know more about this topic? Then let our experts help. Barry Branch is Sr. Professor of the Practice of Real Estate Development at Scheller College of Business, Georgia Institute of Technology. He is co-founder of The Branch-Shelton Company, LLC, a private investment management and financial advisory firm. Barry is available to speak with media regarding this important topic – simply click on his icon to arrange an interview.
The Markets never lie – and it looks like Wall Street is smiling about Joe Biden
The Markets never lie – and it looks like Wall Street is smiling about Joe Biden It wasn’t just the Joe Biden campaign celebrating after a monumental Super Tuesday – so too was Wall Street. Dow (INDU) futures were last up more than 580 points, or 2.3%, after the former US vice president was projected to win many as nine states including Texas, Virginia and Minnesota. Sanders captured Utah, Vermont and Colorado, and was leading in California. Futures for the S&P 500 (INX) were up 1.8%, while the Nasdaq Composite (COMP) increased 1.9%. Wall Street has been unnerved by prospect that Sanders, who wants to ban fracking, break up big banks and institute a wealth tax, could win the Democratic nomination and eventually the presidency. March 04 – CNN Business But what impact and influence will investors and indexes have on the actual outcome of the primaries? Will voters be convinced or swayed by the markets or is this result simply a by-product of an election result? It is interesting for sure, and if you are a reporter covering this topic – then let our experts help with your coverage. Jeff Haymond, Ph.D. is Dean, School of Business Administration and a Professor of Economics at Cedarville and is an expert in finance and trade. Dr. Haymond is available to speak with media regarding this topic – simply click on his icon to arrange an interview.
FAU Experts Available to Speak on Coronavirus and its Impact Worldwide
Coronavirus has now earned global attention and Florida Atlantic University experts are available to speak with media about the impact of coronavirus on areas related to this worldwide epidemic, including hospitality, tourism, employment sick leave, and politics. If you are a journalist covering the progress of this virus and how it is impacting various sectors and segments of society – then let us help with your stories, questions and ongoing coverage. LeaAnne DeRigne, Ph.D., MSW, associate professor in FAU’s Phyllis and Harvey Sandler School of Social Work LeaAnne DeRigne is an expert on paid sick leave and its impact on the health and financial security of individuals, families and public health in general. Her recent research on the importance of paid sick leave benefits has received wide press coverage,and has been cited around the country by policy makers, lobbyists, and advocates pushing cities and states to mandate sick leave coverage. Key findings from the study, which are representative of the nation, showed that regardless of income, age, race, occupation, full-time or part-time work status, health status or health insurance coverage, workers without paid sick leave were three times more likely to delay medical care than were workers with paid sick leave. She also conducts research on other workplace benefits such as flexible work, vacation time and pensions. Peter Ricci, clinical associate professor and director of the Department of Marketing and Hospitality Management in FAU’s College of Business Peter Ricci is a hospitality industry veteran with more than 20 years of managerial experience in segments including food service, lodging, incentive travel, and destination marketing. While filling the role of hotel general manager for almost a decade, Ricci served as a part-time educator before entering academia full time as both a clinical associate professor and administrator. Kevin Wagner, Ph.D., professor and chair of FAU’s Department of Political Science in the Dorothy F. Schmidt College of Arts and Letters Kevin Wagner’s research and teaching interests include presidential and judicial politics, political behavior and legislative behavior. He is also a research fellow of the FAU Business and Economics Polling Initiative (BEPI). Wagner has lectured extensively on American politics and has served as an expert in many leading newspapers including the New York Times, Boston Globe, New York Newsday, the Dallas Morning News, and the Miami Herald. He has been featured as the political analyst for CBS 12 in West Palm Beach and on national television including NBC’s “Today.” All of the experts listed above are ready and available to speak with media. To arrange an interview simply click on an expert’s profile or email Lisa Metcalf at lmetcalf@fau.edu.
It’s here and it’s time America got serious about Covid-19, known as coronavirus. The CDC is working overtime, and leading government health officials are scrambling to ensure hospitals are equipped, front-line health providers are ready and the public is informed. But with any emergency, there comes the risk of misinformation and unnecessary worry. As the new coronavirus outbreak becomes an ever-looming threat in the United States, state infectious disease specialists say the first step to staying safe is this: Remain calm. Also, don’t worry about buying a mask. “You really have to make sure you get the accurate information and not … ‘Lock your doors, close the windows, buy a generator and hope for the best,’” said Dr. Peter Gulick, an infectious disease expert at the Michigan State University's College of Osteopathic Medicine and director of the MSU Internal Medicine Osteopathic Residency program. That’s not only alarmist and bad advice, he said, it’s a waste of energy. The best advice — like these tips from the U.S. Centers for Disease Control and Prevention — is tried-and-true, Gulick said: Wash hands often with soap and water for at least 20 seconds. It’s especially important after using the bathroom, before eating, and after blowing your nose, coughing or sneezing. No soap and water? Use an alcohol-based hand sanitizer with at least 60 percent alcohol. Avoid touching your eyes, nose and mouth with unwashed hands. Avoid close contact with people who are sick. If you’re sick, stay home. Cover your cough or sneeze with a tissue, then throw the tissue in the trash. Clean and disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe. If you think you’ve come in contact with someone with the virus (there have been no confirmed cases yet in Michigan) contact your health provider immediately. February 26 – The Bridge Regrettably, that too can often lead to financial reactions that can ripple across the economy. Lately, the surging stock market has plunged with worries from investors and Wall Street about how America’s workforce will be impacted if the virus spreads. Friday ended the worst week the stock market has had since 2008. NBC News 6 sat down with the Dean of the Broad College of Business at Michigan State University, Sanjay Gupta, to talk more about the stocks and what to expect after this week. “The stock market is clearly spooked, and it has become nervous with whatever is going on in the business world,” said Gupta. What has ‘spooked’ the business world, is COVID-19. “The coronavirus is quarantined lots of factories, in fact the whole country,” said Gutpa. Gutpa says the halt in Chinese manufacturing also limits businesses and goods here in the United States. “In our day to day lives, either there will be some things that we count on that may not be available. It might be that the priciest of those things that we count on change, or go up dramatically because we are so dependent on a foreign source,” said Gutpa. February 29 – WLNS TV Covering an outbreak like Covid-19 isn’t easy, there are multiple angles to explore and it is vital that only the correct facts are shared by media to the millions of viewers, readers and listeners that are waiting for the latest information – and that’s where our experts can help. Sanjay Gupta is the Eli and Edythe L. Broad Dean of the Eli Broad College of Business. He is an expert in the areas of corporate and individual tax policy issues and finance. Peter Gulick is currently an associate professor of medicine at Michigan State University, College of Osteopathic Medicine, and serves as adjunct faculty in the College of Human Medicine and the College of Nursing. Both experts have already been sought out by the media for their expert insight on this issue – if you are interested in arranging an interview, simply click on either expert’s profile to arrange a time today.
Entrepreneurship expert: New Americans vital to U.S. economy
In the United States, there is a long history of marginalized communities being extremely entrepreneurial. These communities were driven, in large part, by the desire to meet their own ethnic, religious, and cultural needs, according to Christine Beech, D.M., the Dr. Jon and Betty Kabara Endowed Chair in Entrepreneurship and Innovation at Saint Mary’s University of Minnesota. In the mid-19th century, more than 100 hospitals were founded by the Jewish community to fight anti-Semitism in medical school appointments and meet patient needs of having kosher options during the hospital stay.These opportunities were not available in the existing network of mainstream hospitals. Similarly, in the beginning of the 20th century, Irish Catholic immigrants began establishing a network of parochial elementary schools as a way to preserve their faith and culture and allow children to learn about their faith in school, Dr. Beech said. These two initiatives, led by immigrant groups, helped establish networks of schools and healthcare institutions that served a social good in their communities while generating jobs and stimulating the economy. In addition, there is a long line of entrepreneurs in the African-American community who combatted racial discrimination through new businesses because they were marginalized from the mainstream economy, Dr. Beech said. Examples of these entrepreneurs include Madam C.J. Walker, who invented a line of hair care products to serve the needs of her community, and Charles Clinton Spaulding, who developed the largest African-American business in the early 20th century specifically serving the insurance needs of the African-American community. In modern times, one of the largest marginalized communities in the U.S. is comprised of new Americans, many of whom are immigrants and have developed culturally responsive businesses. Although current policies are set in place to curtail U.S. immigrants, it is important to remember that the country could potentially lose an entire segment of the population that has been vital to the economy, Dr. Beech said. Beech pointed to a 2015 study from the Kauffman Foundation which mentioned that 40% of the Fortune 500 in 2010 were companies founded by an immigrant or the child of an immigrant. Nearly 30% of all new businesses started in 2014 were started by immigrants, Dr. Beech said, according to a related study from the same foundation. “We've been able to see constant growth and diversity within our economy that's been very healthy for us,” said Dr. Beech, who also serves as the executive director of the Kabara Institute for Entrepreneurial Studies at Saint Mary’s. “There's a narrative that says that the immigrant community is coming here to find work. But in fact, when we look at the data, a significant portion of them are actually creating jobs and starting businesses.” Dr. Beech added three primary reasons for these continued statistics indicating significant immigrant entrepreneurship: The drive to be independent A desire to meet their communities culturally specific needs A response to societal biases that hinder success within the mainstream workforce “Those migrant communities often develop their own businesses, almost like a subset of the economy, where they can't be marginalized, where they're actually taking charge of their own economic well-being,” said Dr. Beech. When it comes to knowing the overall impact of the immigration policies on the economy, there will be a natural lag in the data — possibly as long as five years — given how much time it typically takes for immigrants to establish businesses after arriving in a new country, Dr. Beech said. Are you a journalist covering this topic and interested in an interview? That’s where we can help. Christine Beech, D.M., has had a career that encompasses academics, entrepreneurship, military service, and consulting. She has been a faculty member in the business department at Saint Mary’s University since 2017 and is the executive director of the Kabara Institute for Entrepreneurial Studies. Before joining Saint Mary’s University, Dr. Beech owned her own consulting business in the Washington, D.C., area for many years. Before that, she worked as a corporate entrepreneur where she led the development of a multimillion-dollar business line for a global consulting firm. Dr. Beech is an expert in entrepreneurship, social entrepreneurship, and women entrepreneurs. She is available to speak with the media. To arrange an interview with her, simply click on her photo below to access her contact information.
