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After the admissions scandal – Otterbein’s President lends his perspective and pledge
It was a scandal that seemed to rip through some of the top-rated universities and schools in America. The very institutions that portray and image of integrity, ethics and higher expectations had failed in a very public manner. Universities and colleges are supposed to be beyond reproach and in this case some of the best-known names in higher learning were now subject to accepting bribes and admitting students who may have had wealthy parents and worthy-pocket books - but lacked the essential grades to attend. Mix in a few well-known celebrities and this allowed the story to show that America’s elite have access to the levers of academia that most do not. But out of every mistake, there comes a lesson. And ideally a way to find the right way to do things. That’s how the President of Otterbein University, John Comerford sees it. He was recently published when asked about his views on the issue as it played out. “We should use the scandal as a moment to open our eyes to this long-standing inequity, because higher education is still the best door to social mobility our nation has to offer. Some institutions, like Otterbein University, are trying to provide opportunity to all students. We are investing more in need-based aid. We are setting transparent, inflationary 2 percent increases in tuition for the next four years. We are intentionally recruiting in underserved areas, expanding the diversity of our student body and providing student support services on campus. Family income will never be considered in who gets into Otterbein.” – The Columbus Dispatch John Comerford is an expert in higher education, regional and national topics. He is the President of Otterbein University and is available to speak with media regarding this issue and how higher-education needs to be made available to everyone in America regardless of income, family name or background. Simply click on his icon to arrange an interview.
U.S. economy to remain strong through most of 2019, with output averaging 3 percent
Higher than expected economic growth in 2018 should continue into next year, with U.S. output averaging 3 percent and continued strong gains in domestic job growth. Indiana will continue to outperform the nation, with output growing at a rate of 3.2 percent, according to a forecast presented today by Indiana University's Kelley School of Business. A year ago, members of Kelley's Indiana Business Outlook Tour panel predicted that U.S. gross domestic product would grow by 2.6 percent this year and about 3 percent if tax reform were enacted. Indiana was forecast to see growth of 2.8 percent. Friday's release of GDP data for the third quarter supports their view that 2018 should end up with output growth above those levels. "The tax cut has produced an acceleration in the U.S. economy during 2018 to well above the new normal status quo of 2 percent growth," said Bill Witte, associate professor emeritus of economics at IU. "We expect output growth in 2019 to average 3 percent, but with deceleration as the year proceeds. By this time next year, quarterly growth will be heading toward equilibrium growth at a little below 2.5 percent." The story in Indiana and the greater Indianapolis area is very similar. "The state economy appears poised to see its strongest growth in the first quarter of 2019, after which growth rates are expected to slow but remain strong through the end of the year," said Ryan Brewer, associate professor of finance at Indiana University-Purdue University Columbus and author of the panel's Indiana forecast. "It is most likely Indiana will continue to experience growth across the board -- in jobs, numbers of establishments, income levels, wages as well as gross state product." The Kelley School released its forecast this morning at the Indianapolis Artsgarden and will present it again at 11 a.m. today in Bloomington. The Business Outlook Tour panel also will present national, state and local economic forecasts in eight other cities across the state through Nov. 28. The national labor market has exceeded expectations for two years now. A year ago, the panel felt the U.S. economy would create jobs at a monthly rate of about 175,000 and that the unemployment rate would fall to 4 percent. Instead, monthly job creation through September has averaged nearly 200,000, and the jobless rate has fallen to 3.7 percent. These job creation trends are expected to continue into 2019, with average monthly job gains of 200,000, and the participation rate -- which measures the percentage of the U.S. population that was employed or looking for a job -- remaining flat. "The labor market will be increasingly tight," Witte said. "The unemployment rate could decline a little, but firms unable to find workers will remain an important theme." Risks to the forecast include the effects of political uncertainty, further trade disputes and economic concerns being felt in other parts of the world, including China and Europe. The panel also expressed reservations about the impact of further Federal Reserve interest rate hikes. They expect the federal funds rate to rise above 3 percent by the end of 2019. Kyle Anderson, clinical assistant professor of business economics and author of the forecast for an 11-county area that includes Indianapolis, Carmel and Anderson, said the region is at full employment, and continued job growth will ensure it stays there. Economic growth in the area will average about 2.5 percent. "Communities around Central Indiana are finding it necessary and important to invest in projects that improve quality of life and provide amenities for residents," Anderson said, referring to examples of this in downtown areas of Indianapolis and Speedway and in Carmel. "The message to community leaders is clear: Investing in infrastructure to improve quality of life is necessary to maintain a healthy local economy. "Tax incentives are not sufficient to draw in businesses and residents. Bike trails, community centers and connected neighborhoods were once seen as luxuries, but now are important economic development tools," he added. "This trend will continue, especially if the economic expansion continues nationally." Other highlights from today's forecast: · Consumer spending will continue to grow, although at a rate less than in 2018. · Business investment will be good, but held back by trade concerns. · Housing will resume growth with a small boost from the aftermath of hurricanes Florence and Michael. Elsewhere, including in Central Indiana, 30-year mortgage rates, nearly a full point higher than a year ago, could dampen enthusiasm for new housing and constrain prices. · Government spending will be strong early in the year, but growth could slow significantly toward year end. · The trade balance will show increasing deficits. A detailed report on the outlook for 2018 will be published in the winter issue of the Indiana Business Review, available online in December. For more assistance, contact George Vlahakis, associate director of communications and media relations at the IU Kelley School of Business, 812-855-0846 (o) or 812-345-1500 (m), vlahakis@iu.edu.
Cities value cybersecurity but budget prevents investment
Although city governments increasingly rely on software programs to provide services such as 911 calls, service delivery and online bill payment, they may not have the proper cybersecurity policies in place to protect their systems, according to a recent nationwide survey of cities by Augusta University researchers. “We’re concerned first with the human factor of all issues,” said Dr. William Hatcher, director of Augusta University’s Master of Public Administration program and one of the survey’s authors. “Having trained employees is necessary to stop attacks or even make sure organizations are not tricked through phishing type schemes.” Almost 30 percent of surveyed cities have no formal cybersecurity policy, which would include rules on password creation, guidelines for employee training on computer security and procedures for reviewing the list of employees with access to sensitive systems, according to the survey. Of the cities that have a formal policy, the survey found that: - 17 percent don’t require in-depth background checks when employees are granted access to sensitive systems. - 18 percent don’t teach employees to recognize breaches. - 37 percent don’t provide ongoing training to employees on new computer security procedures. - 47 percent don’t review the list of employees who have security access on a regular basis. - 54 percent don’t work with an outside auditor to review their policies on an annual basis. The survey looked into cities nationwide with more than 10,000 people and received responses from 193 local governments. Based on the results of the survey, Hatcher says most cities understand the importance of cybersecurity but are not investing in vulnerable areas due to financial constraints. “Providing effective cybersecurity protection is expensive, and many municipalities have financial issues paying for the service,” Hatcher said. Hatcher ‘s research focuses on the connection between public administration and the development of local communities. Through his research, he tries to understand why public administration scholars and practitioners often have different views about the efficacy of certain administrative practices. His research has appeared in journals such as American Journal of Public Health, Journal of Public Affairs Education, Public Administration Quarterly and The Review of Regional Studies. Contact us to schedule an interview with Dr. Hatcher or learn more about his expertise. Source:
3 measures to improve election security
As hacking attempts to undermine our elections have become the new normal, state governments are rushing to secure their voting systems with a $380-million fund from Congress before the midterms. The big question is, where should they invest that money to protect U.S. elections? “Almost every state today is using a different electronic election system,” said Alexander Schwarzmann, former director of the Center for Voting Technology Research at the University of Connecticut and current dean of the School of Computer and Cyber Sciences at Augusta University. “While diversity of systems somewhat increases our election security, states can strengthen it by investing in three areas: They should adopt a voter-verified paper ballot system, increase their technological capability to detect and address security vulnerabilities and implement auditing of election results to build public’s confidence in the outcomes.” Schwarzmann, who provided technological expertise to the State of Connecticut in cybersecurity and integrity of electronic election systems and led state-wide technological audits of voting systems, is available to discuss: • How he helped the State of Connecticut become a leader in voting technology cybersecurity • How state governments can improve confidence in their voting systems by investing in three areas: voter-verified paper ballots, technology to detect and counter security vulnerabilities and statistical and technological election audits Schwarzmann is a nationally-recognized expert in voting technology cybersecurity, and distributed systems. His own research programs have been supported by numerous grants totaling over $8.5 million from the National Science Foundation, including NSF Career Award, Air Force Office of Sponsored Research, State of Connecticut, NSF-NATO, and U.S. Election Assistance Commission and other agencies. He has authored three books and more than 150 research articles and has edited a number of scholarly volumes on computer science research. He served on several editorial boards, including IEEE Transactions on Computers and Information & Computation, two of the most venerable and prestigious journals in computer science. Contact us to schedule an interview with Alexander Schwarzmann or learn more about his expertise. Source:
Risk and returns for private equity and venture capital funds
The early success of some well-known private equity and venture capital funds has led to their rapid growth. According to research from Narasimhan Jegadeesh, the Dean’s Distinguished Chair in Finance, Roman Kraussl (U of Luxembourg), and Joshua M. Pollet (U of Illinois), investors should carefully evaluate the future risk and return potential of this asset class and avoid investing primarily because of past successes. Some private equity indices compiled by the industry suggest that these funds offer bigger returns than the public equity market, but prior academic studies offer mixed evidence on performance. Jegadeesh and his coauthors devised a new approach to determine the actual risk and returns by using market prices of funds that primarily invest in unlisted PE and VC funds listed on several European stock exchanges. This approach has a distinct advantage because it uses publicly available market prices rather than self-reported data, which were previously used in other academic studies. Their findings indicate that unlisted PE and VC funds as an asset class are unlikely to yield extraordinary returns as suggested by some self-reported data. They may even yield about the same return as the stock market but are illiquid. Source:
The return on international investment products
Individual investors have access to an ever-increasing number of US-registered equity funds that invest in international assets, as well as institutional investment products focused on global assets. Despite the growing importance of global equity markets for US investors, there is little academic research devoted to their study. Jeffrey Busse, associate professor of finance, Amit Goyal (University of Lausanne), and Sunil Wahal (Arizona State U) advanced the research, tackling the common theory that less developed markets are less efficient and, consequently, “exploitable by active fund managers.” The trio analyzed a large sampling of active retail mutual funds and institutional products investing in global equity markets, concentrating their research on a sample period from 1991 to 2009. The authors used quarterly returns net of trading costs and gross of fees. They also collected information on annual fee schedules, portfolio turnover, and assets under management. On average and in the aggregate, the data showed a lack of “superior performance” for the sampling. The research paper won the Spangler IQAM Best Paper in Investments Prize at the 2014 European Finance Association Annual Meeting in Lugano, Switzerland. Source:
Why local governments should expect more cyberattacks like the one that just hit Atlanta
The ransomware attack that has held Atlanta’s computer systems hostage over the weekend is only one example of local governments becoming targets of cybercrime. “This problem is likely going to get worse because local governments often do not have the resources for cybersecurity,” said Dr. William Hatcher, director of Augusta University's Master in Public Administration. “Public administration experts like myself are seriously concerned with cyberattacks like the one that just hit Atlanta occurring more often.” In recent years, many local governments have reduced staff to a point where they are only providing the day-to-day services to their citizens, Hatcher said. Little is left for long-term planning like investing in cybersecurity technology and creating a cybersecurity crisis management plan. Hatcher is available to discuss: - Why are local governments not prepared to prevent and deal with cyberattacks like the ransomware that just hit Atlanta? - Why should local governments expect these cyberattacks to happen more often? - Why can local governments do to protect themselves and their citizens from cyberattacks? Click on Dr. Hatcher's profile above to schedule an interview. Source:
In the attached Q&A, Baylor University’s Karon LeCompte, Ph.D., associate professor of curriculum and instruction and an expert on civics education and leadership theory, discusses the importance of investing in student leaders and how parents and teachers can identify leadership characteristics in their children. LeCompte co-directs Baylor’s iEngage Summer Civics Institute, a five-day program that helps students learn how to make a difference in their neighborhoods, schools and communities. "Authentic leaders with experiences that manifest characteristics of extensive skills and high moral values will be on the front stage of our democracy,” she said. “They are the future. It is our responsibility to give them the best gifts that we can – our attention and faith in their ability to lead. Source:
There’s no app for that. Financial planning and your retirement are not a click away
Smartphones may be one of the best technological advancements of our era. In your pocket, you have you home computer, your phone and for most people – their life. Be it a cab, your bank account or a dinner reservation – anything you may need is simply a touch away. Apps have transformed service models and convenience, but not everything in life should be as simple as posting to social media or hailing a ride with Uber. A growing trend some financial experts are seeing is investing apps. People are investing small and large amounts of money through their phone. Some are minor increments, some can be substantial sums of money. Most are done without thought or advice. While convenient – what’s not clear are the fees nor the portfolios. Odds are someone is getting rich, and it might not be those investing. James Philpot is an associate professor in finance and general business, and director of the Financial Planning Program at Missouri State University. He's an expert in this area and is available to speak to media. Click on his icon to arrange an interview. Source:
